Filing Flows › NextBoat (NXB) › Q3 2025
NextBoat (NXB) Q3 2025 earnings results (third quarter 2025)
10-Q filed Dec 15, 2025
NextBoat (NXB) reported revenue of $24.0M for the third quarter 2025 (Q3 2025), -7% from a year earlier and -23% from the quarter before. Operating margin was 1.3%, net loss $67K (0.3% of revenue).
NextBoat, Q3 2025: revenue $24.0M (-7% year over year), operating margin 1.3%, net loss $67K, operating cash flow −$446K. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $24.0M | -23% | -7% |
| Operating profit | $310K | — | — |
| Net earnings | −$67K | — | — |
| Operating cash flow | −$446K | — | — |
What changed
Revenue was $24.0M in Q3 2025, down 7% year over year and down 23% from the previous quarter.
Gross margin was 12.6%, up 1.4 points from a year earlier. Operating profit was $310K, a 1.3% margin (down 3.7 points year over year). Operating expenses grew 69% against a revenue fall of 7%. The fastest-growing cost line was SG&A (+141%). The quarter ended with a net loss of $67K, after a profit of $554K the previous quarter. Net interest and other expense of $377K was the main reason.
Operating cash flow was −$446K. Non-cash charges added back $87K of depreciation and amortization. Working capital and other items used $466K. Capital expenditures of $186K exceeded it, leaving free cash flow of −$631K.
Questions
What was NextBoat's revenue in the third quarter 2025?
NextBoat (NXB) reported revenue of $24.0M for the third quarter 2025 (Q3 2025), -7% from a year earlier and -23% from the quarter before.
Was NextBoat profitable in the third quarter 2025?
Operating profit was $310K (1.3% of revenue) and net loss $67K.
Source: NextBoat 10-Q on SEC EDGAR.