Filing Flows › NLI Holdings (NL) › Q1 2025
NLI Holdings (NL) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 7, 2025
NLI Holdings (NL) reported revenue of $40.3M for the first quarter 2025 (Q1 2025), +6% from a year earlier and +5% from the quarter before. Operating margin was 7.8%, net earnings $667K (1.7% of revenue).
NLI Holdings, Q1 2025: revenue $40.3M (+6% year over year), operating margin 7.8%, net earnings $667K, operating cash flow −$47.5M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $40.3M | +5% | +6% |
| Gross profit | $12.2M | +10% | +26% |
| Operating profit | $3.1M | -91% | +132% |
| Net earnings | $667K | -96% | -90% |
| Operating cash flow | −$47.5M | — | — |
What changed
Revenue was $40.3M in Q1 2025, up 6% year over year and up 5% from the previous quarter. Security Products was the largest line at 75% of revenue. Marine Components added $2.0M year over year (up 24%), 85% of the total change.
Gross margin was 30.2%, up 4.7 points from a year earlier. Operating profit was $3.1M, a 7.8% margin (up 4.2 points year over year). Of the extra revenue versus a year earlier, 78% reached operating profit, above the 4% margin then. Operating expenses grew 8% against revenue growth of 6%. The fastest-growing cost line was Other operating costs (+15%). Net earnings were $667K, down 90% year over year. The effective tax rate was -1.8%.
Operating cash flow was −$47.5M. Non-cash charges added back $945K of depreciation and amortization. Working capital and other items used $49.7M. Capital expenditures of $822K exceeded it, leaving free cash flow of −$48.3M.
Questions
What was NLI Holdings' revenue in the first quarter 2025?
NLI Holdings (NL) reported revenue of $40.3M for the first quarter 2025 (Q1 2025), +6% from a year earlier and +5% from the quarter before.
Was NLI Holdings profitable in the first quarter 2025?
Operating profit was $3.1M (7.8% of revenue) and net earnings $667K.
Source: NLI Holdings 10-Q on SEC EDGAR.