Filing Flows › Medalist Diversified (MDRR) › Q3 2025
Medalist Diversified (MDRR) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
Medalist Diversified (MDRR) reported revenue of $2.8M for the third quarter 2025 (Q3 2025), +19% from a year earlier and +13% from the quarter before. Operating margin was 15.8%, net loss $167K (6.0% of revenue).
Medalist Diversified, Q3 2025: revenue $2.8M (+19% year over year), operating margin 15.8%, net loss $167K, operating cash flow $1.6M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.8M | +13% | +19% |
| Operating profit | $442K | +83% | — |
| Net earnings | −$167K | — | — |
| Operating cash flow | $1.6M | +542% | 11× |
| Free cash flow | $1.0M | — | — |
What changed
Revenue was $2.8M in Q3 2025, up 19% year over year and up 13% from the previous quarter. Retail center property was the largest line at 56% of revenue. Single tenant net lease property added $414K year over year (up 439%), 92% of the total change.
Operating profit was $442K, a 15.8% margin (up 2.9 points year over year). Of the extra revenue versus a year earlier, 31% reached operating profit, above the 13% margin then. Total costs grew 15% against revenue growth of 19%. The fastest-growing cost line was Other operating costs (+16%). The quarter ended with a net loss of $167K, narrower than the previous quarter's $331K loss. Net interest and other expense of $769K was the main reason.
Operating cash flow was $1.6M (up 1021% year over year). Non-cash charges added back $769K of depreciation and amortization. Working capital and other items added $1.0M. Capital expenditures of $568K left free cash flow of $1.0M.
Questions
What was Medalist Diversified's revenue in the third quarter 2025?
Medalist Diversified (MDRR) reported revenue of $2.8M for the third quarter 2025 (Q3 2025), +19% from a year earlier and +13% from the quarter before.
Was Medalist Diversified profitable in the third quarter 2025?
Operating profit was $442K (15.8% of revenue) and net loss $167K.