Filing Flows › StoneX Group (SNEX) › Q2 FY25
StoneX Group (SNEX) Q2 FY25 earnings results (second quarter fiscal 2025)
10-Q filed May 7, 2025
StoneX Group (SNEX) reported revenue of $36.9B for the second quarter fiscal 2025 (Q2 FY25), +67% from a year earlier and +32% from the quarter before. Operating margin was 0.0%, net earnings $71.7M (0.2% of revenue).
StoneX Group, Q2 FY25: revenue $36.9B (+67% year over year), operating margin 0.0%, net earnings $71.7M, operating cash flow −$154M. The chart follows the revenue to costs, profit and cash.
| Q2 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $36.9B | +32% | +67% |
| Operating profit | −$8.6M | — | — |
| Net earnings | $71.7M | -7% | — |
| Operating cash flow | −$154M | -180% | — |
What changed
Revenue was $36.9B in Q2 FY25, up 67% year over year and up 32% from the previous quarter. Sales of physical commodities was the largest line at 98% of revenue. Sales of physical commodities added $14.7B year over year (up 69%), 99% of the total change.
Gross margin was 2.6%, down 1.1 points from a year earlier. Operating costs exceeded revenue by $0.01B, an operating margin of 0.0%. Operating expenses grew 16% against revenue growth of 67%. The fastest-growing cost line was Other operating costs (+17%). Net earnings were $0.07B, up 35% year over year. The effective tax rate was 26.2%. Non-operating items added $0.11B, 109% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$0.15B. Non-cash charges added back $0.02B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $0.25B. Capital expenditures of $0.02B exceeded it, leaving free cash flow of −$0.17B.
Questions
What was StoneX Group's revenue in the second quarter fiscal 2025?
StoneX Group (SNEX) reported revenue of $36.9B for the second quarter fiscal 2025 (Q2 FY25), +67% from a year earlier and +32% from the quarter before.
Was StoneX Group profitable in the second quarter fiscal 2025?
Operating loss was $8.6M (0.0% of revenue) and net earnings $71.7M.
Source: StoneX Group 10-Q on SEC EDGAR.