Filing Flows › Republic Airways Holdings (RJET) › Q3 2025
Republic Airways Holdings (RJET) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 21, 2025
Republic Airways Holdings (RJET) reported revenue of $412M for the third quarter 2025 (Q3 2025), +257% from a year earlier and +2% from the quarter before. Operating margin was -2.2%, net loss $14.1M (3.4% of revenue).
Republic Airways Holdings, Q3 2025: revenue $412M (+258% year over year), operating margin -2.2%, net loss $14.1M, operating cash flow −$177M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $412M | +2% | +257% |
| Operating profit | −$9.2M | -117% | — |
| Net earnings | −$14.1M | -168% | — |
| Operating cash flow | −$177M | — | — |
What changed
Revenue was $412.0M in Q3 2025, up 257% year over year and up 2% from the previous quarter. Contract Revenue was the largest line at 16% of revenue. Pass Through and Other Revenue added $3.3M year over year (up 15%), 1% of the total change. Contract Revenue declined 30%.
Operating costs exceeded revenue by $9.2M, an operating margin of -2.2%. Total costs grew 218% against revenue growth of 257%. The fastest-growing cost line was Other operating costs (+239%). The quarter ended with a net loss of $14.1M, after a profit of $20.9M the previous quarter.
Operating cash flow was −$176.6M. Non-cash charges added back $31.7M of depreciation and amortization and $200K of share-based compensation. Working capital and other items used $194.4M. Capital expenditures of $100.2M exceeded it, leaving free cash flow of −$276.8M.
Questions
What was Republic Airways Holdings' revenue in the third quarter 2025?
Republic Airways Holdings (RJET) reported revenue of $412M for the third quarter 2025 (Q3 2025), +257% from a year earlier and +2% from the quarter before.
Was Republic Airways Holdings profitable in the third quarter 2025?
Operating loss was $9.2M (-2.2% of revenue) and net loss $14.1M.