Filing Flows › NewLake Capital Partners (NLCP) › Q1 2025
NewLake Capital Partners (NLCP) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 8, 2025
NewLake Capital Partners (NLCP) reported revenue of $13.2M for the first quarter 2025 (Q1 2025), +5% from a year earlier and +6% from the quarter before. Operating margin was 49.2%, net earnings $6.3M (47.7% of revenue).
NewLake Capital Partners, Q1 2025: revenue $13.2M (+5% year over year), operating margin 49.2%, net earnings $6.3M, operating cash flow $10.2M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $13.2M | +6% | +5% |
| Operating profit | $6.5M | +4% | -7% |
| Net earnings | $6.3M | +4% | -8% |
| Operating cash flow | $10.2M | -4% | +1% |
What changed
Revenue was $13.2M in Q1 2025, up 5% year over year and up 6% from the previous quarter.
Operating profit was $6.5M, a 49.2% margin (down 6.2 points year over year). Operating profit fell $484K even though revenue rose $601K versus a year earlier, so costs grew faster than sales. Total costs grew 19% against revenue growth of 5%. The fastest-growing cost line was Other operating costs (+26%). Net earnings were $6.3M, down 8% year over year. The effective tax rate was 0.0%.
Operating cash flow was $10.2M (up 1% year over year), 159% of net earnings. Non-cash charges added back $3.9M of depreciation and amortization and $388K of share-based compensation. Working capital and other items used $513K.
Questions
What was NewLake Capital Partners' revenue in the first quarter 2025?
NewLake Capital Partners (NLCP) reported revenue of $13.2M for the first quarter 2025 (Q1 2025), +5% from a year earlier and +6% from the quarter before.
Was NewLake Capital Partners profitable in the first quarter 2025?
Operating profit was $6.5M (49.2% of revenue) and net earnings $6.3M.