Filing Flows › Nortech Systems (NSYS) › Q1 2025
Nortech Systems (NSYS) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 14, 2025
Nortech Systems (NSYS) reported revenue of $26.9M for the first quarter 2025 (Q1 2025), -21% from a year earlier and -6% from the quarter before. Operating margin was -6.0%, net loss $1.3M (4.9% of revenue).
Nortech Systems, Q1 2025: revenue $26.9M (-21% year over year), operating margin -6.0%, net loss $1.3M, operating cash flow −$2.9M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $26.9M | -6% | -21% |
| Operating profit | −$1.6M | — | — |
| Net earnings | −$1.3M | — | — |
| Operating cash flow | −$2.9M | -469% | — |
What changed
Revenue was $26.9M in Q1 2025, down 21% year over year and down 6% from the previous quarter. Medical Imaging was the largest line at 32% of revenue. Medical Device lost $2.7M year over year (down 25%), 36% of the total change.
Gross margin was 11.4%, down 4.5 points from a year earlier. Operating costs exceeded revenue by $1.6M, an operating margin of -6.0%. Operating expenses grew 9% against a revenue fall of 21%. The fastest-growing cost line was Sales & marketing (+47%). The quarter ended with a net loss of $1.3M, narrower than the previous quarter's $1.5M loss.
Operating cash flow was −$2.9M. Non-cash charges added back $347K of depreciation and amortization and $118K of share-based compensation. Working capital and other items used $2.1M. Capital expenditures of $268K exceeded it, leaving free cash flow of −$3.2M.
Questions
What was Nortech Systems' revenue in the first quarter 2025?
Nortech Systems (NSYS) reported revenue of $26.9M for the first quarter 2025 (Q1 2025), -21% from a year earlier and -6% from the quarter before.
Was Nortech Systems profitable in the first quarter 2025?
Operating loss was $1.6M (-6.0% of revenue) and net loss $1.3M.
Source: Nortech Systems 10-Q on SEC EDGAR.