Filing Flows › Solaris Energy Infrastructure (SEI) › Q4 2025
Solaris Energy Infrastructure (SEI) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 27, 2026
Solaris Energy Infrastructure (SEI) reported revenue of $180M for the fourth quarter 2025 (Q4 2025), +87% from a year earlier and +8% from the quarter before. Operating margin was 22.2%, net loss $3.5M (2.0% of revenue).
Solaris Energy Infrastructure, Q4 2025: revenue $180M (+87% year over year), operating margin 22.2%, net loss $3.5M, operating cash flow $95.9M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $180M | +8% | +87% |
| Operating profit | $39.8M | +5% | — |
| Net earnings | −$3.5M | -124% | — |
| Operating cash flow | $95.9M | +52% | +632% |
What changed
Revenue was $179.7M in Q4 2025, up 87% year over year and up 8% from the previous quarter.
Operating profit was $39.8M, a 22.2% margin (down 4.6 points year over year). Of the extra revenue versus a year earlier, 17% reached operating profit, below the 27% margin then. Total costs grew 98% against revenue growth of 87%. The fastest-growing cost line was Other operating costs (+107%). The quarter ended with a net loss of $3.5M, after a profit of $24.8M the previous quarter. Minority interests bore $1.9M of it: to shareholders the quarter was a loss of $1.7M. Net interest and other expense of $42.6M was the main reason.
Operating cash flow was $95.9M (up 632% year over year). Non-cash charges added back $23.5M of depreciation and amortization and $5.9M of share-based compensation. Working capital and other items added $70.1M. Capital expenditures of $254.5M exceeded it, leaving free cash flow of −$158.6M.
Questions
What was Solaris Energy Infrastructure's revenue in the fourth quarter 2025?
Solaris Energy Infrastructure (SEI) reported revenue of $180M for the fourth quarter 2025 (Q4 2025), +87% from a year earlier and +8% from the quarter before.
Was Solaris Energy Infrastructure profitable in the fourth quarter 2025?
Operating profit was $39.8M (22.2% of revenue) and net loss $3.5M.