Filing Flows › NewLake Capital Partners (NLCP) › Q4 2025
NewLake Capital Partners (NLCP) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 6, 2026
NewLake Capital Partners (NLCP) reported revenue of $12.3M for the fourth quarter 2025 (Q4 2025), -1% from a year earlier and -2% from the quarter before. Operating margin was 50.9%, net earnings $6.0M (48.9% of revenue).
NewLake Capital Partners, Q4 2025: revenue $12.3M (-1% year over year), operating margin 50.9%, net earnings $6.0M, operating cash flow $10.1M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $12.3M | -2% | -1% |
| Operating profit | $6.3M | -9% | +1% |
| Net earnings | $6.0M | -9% | +0.1% |
| Operating cash flow | $10.1M | -6% | -5% |
What changed
Revenue was $12.3M in Q4 2025, down 1% year over year and down 2% from the previous quarter.
Operating profit was $6.3M, a 50.9% margin (up 1.2 points year over year). Total costs fell 4% while revenue fell 1%. Net earnings were $6.0M, roughly flat year over year. The effective tax rate was 0.0%.
Operating cash flow was $10.1M (down 5% year over year), 164% 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 fourth quarter 2025?
NewLake Capital Partners (NLCP) reported revenue of $12.3M for the fourth quarter 2025 (Q4 2025), -1% from a year earlier and -2% from the quarter before.
Was NewLake Capital Partners profitable in the fourth quarter 2025?
Operating profit was $6.3M (50.9% of revenue) and net earnings $6.0M.