Filing Flows › Seritage Growth Properties (SRG-PA) › Q3 2025
Seritage Growth Properties (SRG-PA) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 14, 2025
Seritage Growth Properties (SRG-PA) reported revenue of $4.8M for the third quarter 2025 (Q3 2025), +47% from a year earlier and +3% from the quarter before. Operating margin was -126.8%, net loss $12.4M (259.6% of revenue).
Seritage Growth Properties, Q3 2025: revenue $4.8M (+47% year over year), operating margin -126.8%, net loss $12.4M, operating cash flow −$12.5M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.8M | +3% | +47% |
| Operating profit | −$6.1M | — | — |
| Net earnings | −$12.4M | — | — |
| Operating cash flow | −$12.5M | — | — |
What changed
Revenue was $4.8M in Q3 2025, up 47% year over year and up 3% from the previous quarter.
Operating costs exceeded revenue by $6.1M, an operating margin of -126.8%. Total costs fell 52% while revenue rose 47%. The quarter ended with a net loss of $12.4M, narrower than the previous quarter's $28.5M loss. Net interest and other expense of $6.3M was the main reason.
Operating cash flow was −$12.5M. Non-cash charges added back $1.7M of depreciation and amortization. Working capital and other items used $1.8M. Capital expenditures of $3.7M exceeded it, leaving free cash flow of −$16.2M.
Questions
What was Seritage Growth Properties' revenue in the third quarter 2025?
Seritage Growth Properties (SRG-PA) reported revenue of $4.8M for the third quarter 2025 (Q3 2025), +47% from a year earlier and +3% from the quarter before.
Was Seritage Growth Properties profitable in the third quarter 2025?
Operating loss was $6.1M (-126.8% of revenue) and net loss $12.4M.