Filing Flows › New Fortress Energy (NFE) › Q4 2025
New Fortress Energy (NFE) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Apr 13, 2026
New Fortress Energy (NFE) reported revenue of $396M for the fourth quarter 2025 (Q4 2025), -42% from a year earlier and +19% from the quarter before. Operating margin was -159.1%, net loss $847M (214.0% of revenue).
New Fortress Energy, Q4 2025: revenue $396M (-42% year over year), operating margin -159.1%, net loss $847M, operating cash flow −$76.2M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $396M | +19% | -42% |
| Operating profit | −$630M | — | -376% |
| Net earnings | −$847M | — | — |
| Operating cash flow | −$76.2M | — | -117% |
What changed
Revenue was $395.7M in Q4 2025, down 42% year over year and up 19% from the previous quarter.
Operating costs exceeded revenue by $629.7M, an operating margin of -159.1%. Total costs grew 128% against a revenue fall of 42%. The fastest-growing cost line was Other operating costs (+681%). The quarter ended with a net loss of $847.1M, wider than the previous quarter's $263.0M loss.
Operating cash flow was −$76.2M. Non-cash charges added back $56.9M of depreciation and amortization and $4.0M of share-based compensation. Working capital and other items added $710.1M. Capital expenditures of $58.6M exceeded it, leaving free cash flow of −$134.8M.
Questions
What was New Fortress Energy's revenue in the fourth quarter 2025?
New Fortress Energy (NFE) reported revenue of $396M for the fourth quarter 2025 (Q4 2025), -42% from a year earlier and +19% from the quarter before.
Was New Fortress Energy profitable in the fourth quarter 2025?
Operating loss was $630M (-159.1% of revenue) and net loss $847M.