Filing Flows › Nakamoto (NAKA) › Q3 2025
Nakamoto (NAKA) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 19, 2025
Nakamoto (NAKA) reported revenue of $388K for the third quarter 2025 (Q3 2025), -40% from a year earlier and -5% from the quarter before.
Nakamoto, Q3 2025: revenue $388K (-40% year over year), net loss $86.0M, operating cash flow −$13.2M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $388K | -5% | -40% |
| Operating profit | −$10.4M | — | — |
| Net earnings | −$86.0M | — | — |
| Operating cash flow | −$13.2M | — | — |
What changed
Revenue was $388K in Q3 2025, down 40% year over year and down 5% from the previous quarter. Patient Care Services was the largest line at 100% of revenue. Patient Care Services lost $239K year over year (down 38%), 92% of the total change.
Operating costs exceeded revenue by $10.4M, an operating margin of -2680.4%. Total costs grew 536% against a revenue fall of 40%. The fastest-growing cost line was General & admin (+848%). The quarter ended with a net loss of $86.0M, wider than the previous quarter's $2.4M loss. Net interest and other expense of $75.6M was the main reason.
Operating cash flow was −$13.2M. Non-cash charges added back $10K of depreciation and $1.5M of share-based compensation. Working capital and other items added $71.3M.
Questions
What was Nakamoto's revenue in the third quarter 2025?
Nakamoto (NAKA) reported revenue of $388K for the third quarter 2025 (Q3 2025), -40% from a year earlier and -5% from the quarter before.
Source: Nakamoto 10-Q on SEC EDGAR.