Filing Flows › NLI Holdings (NL) › Q2 2025
NLI Holdings (NL) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 6, 2025
NLI Holdings (NL) reported revenue of $40.4M for the second quarter 2025 (Q2 2025), +12% from a year earlier and +0.2% from the quarter before. Operating margin was 6.9%, net earnings $355K (0.9% of revenue).
NLI Holdings, Q2 2025: revenue $40.4M (+12% year over year), operating margin 6.9%, net earnings $355K, operating cash flow $7.3M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $40.4M | +0.2% | +12% |
| Gross profit | $12.9M | +6% | +15% |
| Operating profit | $2.8M | -11% | +254% |
| Net earnings | $355K | -47% | -95% |
| Operating cash flow | $7.3M | — | -53% |
| Free cash flow | $5.9M | — | -61% |
What changed
Revenue was $40.4M in Q2 2025, up 12% year over year and roughly flat from the previous quarter. Security Products was the largest line at 76% of revenue. Security Products added $2.5M year over year (up 9%), 55% of the total change.
Gross margin was 31.9%, up 0.8 points from a year earlier. Operating profit was $2.8M, a 6.9% margin (up 4.7 points year over year). Of the extra revenue versus a year earlier, 45% reached operating profit, above the 2% margin then. Operating expenses fell 3% while revenue rose 12%. Net earnings were $355K, down 95% year over year. The effective tax rate was -4.3%.
Operating cash flow was $7.3M (down 53% year over year), 691% of net income including minority interests. Non-cash charges added back $923K of depreciation and amortization. Working capital and other items added $5.3M. Capital expenditures of $1.3M left free cash flow of $5.9M.
Questions
What was NLI Holdings' revenue in the second quarter 2025?
NLI Holdings (NL) reported revenue of $40.4M for the second quarter 2025 (Q2 2025), +12% from a year earlier and +0.2% from the quarter before.
Was NLI Holdings profitable in the second quarter 2025?
Operating profit was $2.8M (6.9% of revenue) and net earnings $355K.
Source: NLI Holdings 10-Q on SEC EDGAR.