Filing Flows › NewLake Capital Partners (NLCP) › Q3 2025
NewLake Capital Partners (NLCP) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
NewLake Capital Partners (NLCP) reported revenue of $12.6M for the third quarter 2025 (Q3 2025), +0.3% from a year earlier and -3% from the quarter before. Operating margin was 54.9%, net earnings $6.7M (53.0% of revenue).
NewLake Capital Partners, Q3 2025: revenue $12.6M (+0.3% year over year), operating margin 54.9%, net earnings $6.7M, operating cash flow $10.7M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $12.6M | -3% | +0.3% |
| Operating profit | $6.9M | -9% | +4% |
| Net earnings | $6.7M | -9% | +4% |
| Operating cash flow | $10.7M | -6% | -2% |
What changed
Revenue was $12.6M in Q3 2025, roughly flat year over year and down 3% from the previous quarter.
Operating profit was $6.9M, a 54.9% margin (up 2.1 points year over year). Of the extra revenue versus a year earlier, 852% reached operating profit, above the 53% margin then. Total costs fell 4% while revenue was flat. Net earnings were $6.7M, up 4% year over year. The effective tax rate was 0.0%.
Operating cash flow was $10.7M (down 2% year over year), 158% of net earnings. Non-cash charges added back $3.9M of depreciation and amortization and $316K of share-based compensation.
Questions
What was NewLake Capital Partners' revenue in the third quarter 2025?
NewLake Capital Partners (NLCP) reported revenue of $12.6M for the third quarter 2025 (Q3 2025), +0.3% from a year earlier and -3% from the quarter before.
Was NewLake Capital Partners profitable in the third quarter 2025?
Operating profit was $6.9M (54.9% of revenue) and net earnings $6.7M.