Filing Flows › People (PPLI) › Q4 2025
People (PPLI) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 20, 2026
People (PPLI) reported revenue of $646M for the fourth quarter 2025 (Q4 2025), -10% from a year earlier and +10% from the quarter before. Operating margin was -17.5%, net loss $75.8M (11.7% of revenue).
People, Q4 2025: revenue $646M (-10% year over year), operating margin -17.5%, net loss $75.8M, operating cash flow $36.6M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $646M | +10% | -10% |
| Operating profit | −$113M | — | — |
| Net earnings | −$75.8M | — | — |
| Operating cash flow | $36.6M | +21% | -67% |
| Free cash flow | $31.4M | +24% | -70% |
What changed
Revenue was $646.0M in Q4 2025, down 10% year over year and up 10% from the previous quarter.
Operating costs exceeded revenue by $113.4M, an operating margin of -17.5%. Total costs grew 13% against a revenue fall of 10%. The fastest-growing cost line was Other operating costs (+465%). The quarter ended with a net loss of $75.8M, wider than the previous quarter's $21.7M loss. Non-operating items added $115.9M, 4583% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $36.6M (down 67% year over year). Non-cash charges added back $34.3M of depreciation and amortization and $16.2M of share-based compensation. Working capital and other items added $61.8M. Capital expenditures of $5.2M left free cash flow of $31.4M.
Questions
What was People's revenue in the fourth quarter 2025?
People (PPLI) reported revenue of $646M for the fourth quarter 2025 (Q4 2025), -10% from a year earlier and +10% from the quarter before.
Was People profitable in the fourth quarter 2025?
Operating loss was $113M (-17.5% of revenue) and net loss $75.8M.
Source: People 10-K on SEC EDGAR.