Filing Flows › Seritage Growth Properties (SRG-PA) › Q1 2025
Seritage Growth Properties (SRG-PA) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 15, 2025
Seritage Growth Properties (SRG-PA) reported revenue of $4.6M for the first quarter 2025 (Q1 2025), -20% from a year earlier and +5% from the quarter before. Operating margin was -370.3%, net loss $22.2M (482.8% of revenue).
Seritage Growth Properties, Q1 2025: revenue $4.6M (-20% year over year), operating margin -370.3%, net loss $22.2M, operating cash flow −$9.2M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.6M | +5% | -20% |
| Operating profit | −$17.0M | — | — |
| Net earnings | −$22.2M | — | — |
| Operating cash flow | −$9.2M | — | — |
What changed
Revenue was $4.6M in Q1 2025, down 20% year over year and up 5% from the previous quarter.
Operating costs exceeded revenue by $17.0M, an operating margin of -370.3%. Total costs grew 11% against a revenue fall of 20%. The fastest-growing cost line was General & admin (+71%). The quarter ended with a net loss of $22.2M, wider than the previous quarter's $11.4M loss.
Operating cash flow was −$9.2M. Non-cash charges added back $2.1M of depreciation and amortization and $201K of share-based compensation. Working capital and other items added $10.7M. Capital expenditures of $13.3M exceeded it, leaving free cash flow of −$22.5M.
Questions
What was Seritage Growth Properties' revenue in the first quarter 2025?
Seritage Growth Properties (SRG-PA) reported revenue of $4.6M for the first quarter 2025 (Q1 2025), -20% from a year earlier and +5% from the quarter before.
Was Seritage Growth Properties profitable in the first quarter 2025?
Operating loss was $17.0M (-370.3% of revenue) and net loss $22.2M.