Filing Flows › NI Holdings (NODK) › Q1 2025
NI Holdings (NODK) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 9, 2025
NI Holdings (NODK) reported revenue of $71.4M for the first quarter 2025 (Q1 2025), -4% from a year earlier and -3% from the quarter before. Operating margin was 10.8%, net earnings $6.5M (9.0% of revenue).
NI Holdings, Q1 2025: revenue $71.4M (-4% year over year), operating margin 10.8%, net earnings $6.5M, operating cash flow $9.9M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $71.4M | -3% | -4% |
| Gross profit | $29.0M | -26% | -3% |
| Operating profit | $7.7M | -44% | -12% |
| Net earnings | $6.5M | -34% | -7% |
| Operating cash flow | $9.9M | -54% | -41% |
| Free cash flow | $9.9M | -54% | -41% |
What changed
Revenue was $71.4M in Q1 2025, down 4% year over year and down 3% from the previous quarter.
Gross margin was 40.6%, up 0.6 points from a year earlier. Operating profit was $7.7M, a 10.8% margin (down 1.0 points year over year). Operating expenses grew 2% against a revenue fall of 4%. Net earnings were $6.5M, up 1% year over year. The effective tax rate was 16.6%.
Operating cash flow was $9.9M (down 41% year over year), 153% of net earnings. Non-cash charges added back $173K of depreciation and $480K of share-based compensation. Working capital and other items added $2.8M. Capital expenditures of $20K left free cash flow of $9.9M.
Questions
What was NI Holdings' revenue in the first quarter 2025?
NI Holdings (NODK) reported revenue of $71.4M for the first quarter 2025 (Q1 2025), -4% from a year earlier and -3% from the quarter before.
Was NI Holdings profitable in the first quarter 2025?
Operating profit was $7.7M (10.8% of revenue) and net earnings $6.5M.
Source: NI Holdings 10-Q on SEC EDGAR.