Filing Flows › Mistras Group (MG) › Q3 2025
Mistras Group (MG) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
Mistras Group (MG) reported revenue of $196M for the third quarter 2025 (Q3 2025), +7% from a year earlier and +5% from the quarter before. Operating margin was 10.4%, net earnings $13.2M (6.8% of revenue).
Mistras Group, Q3 2025: revenue $196M (+7% year over year), operating margin 10.4%, net earnings $13.2M, operating cash flow $4.5M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $196M | +5% | +7% |
| Gross profit | $58.2M | +8% | +19% |
| Operating profit | $20.4M | +142% | +72% |
| Net earnings | $13.2M | +322% | +106% |
| Operating cash flow | $4.5M | — | -77% |
What changed
Revenue was $195.5M in Q3 2025, up 7% year over year and up 5% from the previous quarter. Oil & Gas was the largest line at 54% of revenue. Oil & Gas added $6.2M year over year (up 6%), 48% of the total change. Other Process Industries declined 26%.
Gross margin was 29.8%, up 3.0 points from a year earlier. Operating profit was $20.4M, a 10.4% margin (up 3.9 points year over year). Of the extra revenue versus a year earlier, 66% reached operating profit, above the 6% margin then. Operating expenses grew 2% against revenue growth of 7%. The fastest-growing cost line was Other operating costs (+14%). Net earnings were $13.1M, up 105% year over year. The effective tax rate was 22.3%.
Operating cash flow was $4.5M (down 77% year over year), 34% of net earnings. Non-cash charges added back $7.7M of depreciation and amortization and $1.5M of share-based compensation. Working capital and other items used $17.9M. Capital expenditures of $8.5M exceeded it, leaving free cash flow of −$4.1M.
Questions
What was Mistras Group's revenue in the third quarter 2025?
Mistras Group (MG) reported revenue of $196M for the third quarter 2025 (Q3 2025), +7% from a year earlier and +5% from the quarter before.
Was Mistras Group profitable in the third quarter 2025?
Operating profit was $20.4M (10.4% of revenue) and net earnings $13.2M.
Source: Mistras Group 10-Q on SEC EDGAR.