Filing Flows › Montauk Renewables (MNTK) › Q3 2025
Montauk Renewables (MNTK) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 5, 2025
Montauk Renewables (MNTK) reported revenue of $45.3M for the third quarter 2025 (Q3 2025), -31% from a year earlier and +0.3% from the quarter before. Operating margin was 9.8%, net earnings $5.2M (11.5% of revenue).
Montauk Renewables, Q3 2025: revenue $45.3M (-31% year over year), operating margin 9.8%, net earnings $5.2M, operating cash flow $12.7M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $45.3M | +0.3% | -31% |
| Operating profit | $4.4M | — | -80% |
| Net earnings | $5.2M | — | -69% |
| Operating cash flow | $12.7M | +54% | -56% |
What changed
Revenue was $45.3M in Q3 2025, down 31% year over year and roughly flat from the previous quarter. Natural Gas Environmental Attributes was the largest line at 66% of revenue. Natural Gas Environmental Attributes lost $23.5M year over year (down 44%), 114% of the total change.
Operating profit was $4.4M, a 9.8% margin (down 24.6 points year over year). Net earnings were $5.2M, down 69% year over year. The effective tax rate was -54.9%.
Operating cash flow was $12.7M (down 56% year over year), 243% of net earnings. Non-cash charges added back $8.3M of depreciation and amortization and $815K of share-based compensation. Working capital and other items used $1.7M. Capital expenditures of $29.8M exceeded it, leaving free cash flow of −$17.2M.
Questions
What was Montauk Renewables' revenue in the third quarter 2025?
Montauk Renewables (MNTK) reported revenue of $45.3M for the third quarter 2025 (Q3 2025), -31% from a year earlier and +0.3% from the quarter before.
Was Montauk Renewables profitable in the third quarter 2025?
Operating profit was $4.4M (9.8% of revenue) and net earnings $5.2M.
Source: Montauk Renewables 10-Q on SEC EDGAR.