Filing Flows › Noble Romans (NROM) › Q4 2025
Noble Romans (NROM) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Jun 8, 2026
Noble Romans (NROM) reported revenue of $4.5M for the fourth quarter 2025 (Q4 2025), +21% from a year earlier and +8% from the quarter before. Operating margin was 3.8%, net earnings $32K (0.7% of revenue).
Noble Romans, Q4 2025: revenue $4.5M (+21% year over year), operating margin 3.8%, net earnings $32K, operating cash flow $329K. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.5M | +8% | +21% |
| Operating profit | $171K | -79% | +150% |
| Net earnings | $32K | -95% | — |
| Operating cash flow | $329K | -9% | +4% |
| Free cash flow | $300K | -3% | +1% |
What changed
Revenue was $4.5M in Q4 2025, up 21% year over year and up 8% from the previous quarter.
Operating profit was $171K, a 3.8% margin (up 2.0 points year over year). Of the extra revenue versus Q4 2024, 13% reached operating profit, above the 2% margin then. Total costs grew 19% against revenue growth of 21%. The fastest-growing cost line was Other operating costs (+22%). Net earnings were $32K. The effective tax rate was 78.4%.
Operating cash flow was $329K (up 4% year over year), 1032% of net earnings. Non-cash charges added back $98K of depreciation and amortization and $14K of share-based compensation. Working capital and other items added $185K. Capital expenditures of $30K left free cash flow of $300K.
Questions
What was Noble Romans' revenue in the fourth quarter 2025?
Noble Romans (NROM) reported revenue of $4.5M for the fourth quarter 2025 (Q4 2025), +21% from a year earlier and +8% from the quarter before.
Was Noble Romans profitable in the fourth quarter 2025?
Operating profit was $171K (3.8% of revenue) and net earnings $32K.
Source: Noble Romans 10-K on SEC EDGAR.