Filing Flows › Star (STHO) › Q1 2025
Star (STHO) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 12, 2025
Star (STHO) reported revenue of $14.6M for the first quarter 2025 (Q1 2025), -43% from a year earlier and -55% from the quarter before. Operating margin was -76.7%, net loss $8.0M (55.0% of revenue).
Star, Q1 2025: revenue $14.6M (-42% year over year), operating margin -76.7%, net loss $8.0M, operating cash flow −$6.3M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $14.6M | -55% | -43% |
| Operating profit | −$11.2M | — | — |
| Net earnings | −$8.0M | — | — |
| Operating cash flow | −$6.3M | — | — |
What changed
Revenue was $14.6M in Q1 2025, down 43% year over year and down 55% from the previous quarter. Other income was the largest line at 44% of revenue. Land development revenue lost $11.4M year over year (down 69%), 105% of the total change.
Operating costs exceeded revenue by $11.2M, an operating margin of -76.7%. Total costs fell 29% while revenue fell 43%. The quarter ended with a net loss of $8.0M, narrower than the previous quarter's $102.9M loss. Minority interests bore $442K of it: to shareholders the quarter was a loss of $7.6M. Non-operating items added $3.2M, -39% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$6.3M. Non-cash charges added back $1.0M of depreciation and amortization. Working capital and other items added $743K. Capital expenditures of $305K exceeded it, leaving free cash flow of −$6.6M.
Questions
What was Star's revenue in the first quarter 2025?
Star (STHO) reported revenue of $14.6M for the first quarter 2025 (Q1 2025), -43% from a year earlier and -55% from the quarter before.
Was Star profitable in the first quarter 2025?
Operating loss was $11.2M (-76.7% of revenue) and net loss $8.0M.
Source: Star 10-Q on SEC EDGAR.