Filing Flows › Polaris (PII) › Q1 2025
Polaris (PII) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 30, 2025
Polaris (PII) reported revenue of $1.5B for the first quarter 2025 (Q1 2025), -12% from a year earlier and -13% from the quarter before. Operating margin was -2.4%, net loss $66.7M (4.3% of revenue).
Polaris, Q1 2025: revenue $1.5B (-12% year over year), operating margin -2.4%, net loss $66.7M, operating cash flow $83.2M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.5B | -13% | -12% |
| Operating profit | −$36.1M | — | — |
| Net earnings | −$66.7M | — | — |
| Operating cash flow | $83.2M | -60% | — |
| Free cash flow | $54.9M | — | — |
What changed
Revenue was $1.5B in Q1 2025, down 12% year over year and down 13% from the previous quarter. Off Road was the largest line at 78% of revenue. Off Road lost $0.14B year over year (down 10%), 68% of the total change.
Gross margin was 16.0%, down 3.1 points from a year earlier. Operating costs exceeded revenue by $0.04B, an operating margin of -2.4%. Operating expenses fell 4% while revenue fell 12%. The quarter ended with a net loss of $0.07B, after a profit of $0.01B the previous quarter. Net interest and other expense of $0.04B was the main reason.
Operating cash flow was $0.08B. Non-cash charges added back $0.07B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $0.06B. After purchase of property and equipment, net ($0.03B), adjusted free cash flow as the company reports it was $0.05B.
Questions
What was Polaris' revenue in the first quarter 2025?
Polaris (PII) reported revenue of $1.5B for the first quarter 2025 (Q1 2025), -12% from a year earlier and -13% from the quarter before.
Was Polaris profitable in the first quarter 2025?
Operating loss was $36.1M (-2.4% of revenue) and net loss $66.7M.
Source: Polaris 10-Q on SEC EDGAR.