Filing Flows

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).

Revenue$26.9M
Year over year-21%
Quarter over quarter-6%
Operating margin-6.0%
Net earnings−$1.3M

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 2025AmountQ/QY/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.

Open the interactive Sankey →

Source: Nortech Systems 10-Q on SEC EDGAR.