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Maui Land & Pineapple (MLP) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 14, 2025
Maui Land & Pineapple (MLP) reported revenue of $4.5M for the third quarter 2025 (Q3 2025), +49% from a year earlier and -2% from the quarter before. Operating margin was -8.0%, net earnings $240K (5.3% of revenue).
Maui Land & Pineapple, Q3 2025: revenue $4.5M (+49% year over year), operating margin -8.0%, net earnings $240K, operating cash flow −$932K. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.5M | -2% | +49% |
| Operating profit | −$360K | — | — |
| Net earnings | $240K | — | — |
| Operating cash flow | −$932K | — | — |
What changed
Revenue was $4.5M in Q3 2025, up 49% year over year and down 2% from the previous quarter.
Operating costs exceeded revenue by $360K, an operating margin of -8.0%. Total costs fell 7% while revenue rose 49%. Net earnings were $240K. The effective tax rate was 0.0%. Non-operating items added $600K, 250% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$932K. Non-cash charges added back $290K of depreciation and $754K of share-based compensation. Working capital and other items used $2.2M. Capital expenditures of $1.5M exceeded it, leaving free cash flow of −$2.5M.
Questions
What was Maui Land & Pineapple's revenue in the third quarter 2025?
Maui Land & Pineapple (MLP) reported revenue of $4.5M for the third quarter 2025 (Q3 2025), +49% from a year earlier and -2% from the quarter before.
Was Maui Land & Pineapple profitable in the third quarter 2025?
Operating loss was $360K (-8.0% of revenue) and net earnings $240K.