Filing Flows › Mistras Group (MG) › Q2 2025
Mistras Group (MG) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 11, 2025
Mistras Group (MG) reported revenue of $185M for the second quarter 2025 (Q2 2025), -2% from a year earlier and +15% from the quarter before. Operating margin was 4.5%, net earnings $3.1M (1.7% of revenue).
Mistras Group, Q2 2025: revenue $185M (-2% year over year), operating margin 4.5%, net earnings $3.1M, operating cash flow −$9.3M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $185M | +15% | -2% |
| Gross profit | $53.9M | +32% | +5% |
| Operating profit | $8.4M | — | -30% |
| Net earnings | $3.1M | — | -51% |
| Operating cash flow | −$9.3M | -264% | — |
What changed
Revenue was $185.4M in Q2 2025, down 2% year over year and up 15% from the previous quarter. Oil & Gas was the largest line at 55% of revenue. Oil & Gas lost $6.4M year over year (down 6%), 147% of the total change.
Gross margin was 29.1%, up 2.0 points from a year earlier. Operating profit was $8.4M, a 4.5% margin (down 1.8 points year over year). Operating expenses grew 16% against a revenue fall of 2%. The fastest-growing cost line was Other operating costs (+84%). Net earnings were $3.0M, down 53% year over year. The effective tax rate was 25.4%.
Operating cash flow was −$9.3M. Non-cash charges added back $7.7M of depreciation and amortization and $2.3M of share-based compensation. Working capital and other items used $22.4M. Capital expenditures of $5.4M exceeded it, leaving free cash flow of −$14.7M.
Questions
What was Mistras Group's revenue in the second quarter 2025?
Mistras Group (MG) reported revenue of $185M for the second quarter 2025 (Q2 2025), -2% from a year earlier and +15% from the quarter before.
Was Mistras Group profitable in the second quarter 2025?
Operating profit was $8.4M (4.5% of revenue) and net earnings $3.1M.
Source: Mistras Group 10-Q on SEC EDGAR.