Filing Flows › Netgear (NTGR) › Q4 2025
Netgear (NTGR) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 13, 2026
Netgear (NTGR) reported revenue of $182M for the fourth quarter 2025 (Q4 2025), 0% from a year earlier and -1% from the quarter before. Operating margin was -2.6%, net loss $684K (0.4% of revenue).
Netgear, Q4 2025: revenue $182M (0% year over year), operating margin -2.6%, net loss $684K, operating cash flow $19.5M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $182M | -1% | 0% |
| Operating profit | −$4.7M | — | — |
| Net earnings | −$684K | — | — |
| Operating cash flow | $19.5M | — | -9% |
| Free cash flow | $13.6M | — | -28% |
What changed
Revenue was $182.5M in Q4 2025, roughly flat year over year and down 1% from the previous quarter.
Gross margin was 40.4%, up 7.8 points from a year earlier. Operating costs exceeded revenue by $4.7M, an operating margin of -2.6%. Operating expenses grew 5% against flat revenue. The fastest-growing cost line was Research & development (+16%). The quarter ended with a net loss of $684K, narrower than the previous quarter's $4.8M loss. Non-operating items added $2.2M, -87% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $19.5M (down 9% year over year). Non-cash charges added back $2.9M of depreciation and amortization and $8.7M of share-based compensation. Working capital and other items added $8.6M. Capital expenditures of $5.9M left free cash flow of $13.6M.
Questions
What was Netgear's revenue in the fourth quarter 2025?
Netgear (NTGR) reported revenue of $182M for the fourth quarter 2025 (Q4 2025), 0% from a year earlier and -1% from the quarter before.
Was Netgear profitable in the fourth quarter 2025?
Operating loss was $4.7M (-2.6% of revenue) and net loss $684K.
Source: Netgear 10-K on SEC EDGAR.