Filing Flows › Star (STHO) › Q3 2025
Star (STHO) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 7, 2025
Star (STHO) reported revenue of $28.1M for the third quarter 2025 (Q3 2025), +14% from a year earlier and -33% from the quarter before. Operating margin was 4.3%, net earnings $1.8M (6.4% of revenue).
Star, Q3 2025: revenue $28.1M (+14% year over year), operating margin 4.3%, net earnings $1.8M, operating cash flow $5.3M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $28.1M | -33% | +14% |
| Operating profit | $1.2M | -59% | — |
| Net earnings | $1.8M | — | -98% |
| Operating cash flow | $5.3M | — | — |
| Free cash flow | $5.0M | — | — |
What changed
Revenue was $28.1M in Q3 2025, up 14% year over year and down 33% from the previous quarter. Other income was the largest line at 84% of revenue. Other income added $7.3M year over year (up 45%), 204% of the total change. Land development revenue declined 72%.
Operating profit was $1.2M, a 4.3% margin (up 29.1 points year over year). Total costs fell 12% while revenue rose 14%. Net earnings were $1.8M, down 98% year over year ($274K including minority interests, which bore $1.5M of losses). The effective tax rate was 0.0%.
Operating cash flow was $5.3M, 1937% of net income including minority interests. Non-cash charges added back $1.1M of depreciation and amortization. Working capital and other items added $3.9M. Capital expenditures of $356K left free cash flow of $5.0M.
Questions
What was Star's revenue in the third quarter 2025?
Star (STHO) reported revenue of $28.1M for the third quarter 2025 (Q3 2025), +14% from a year earlier and -33% from the quarter before.
Was Star profitable in the third quarter 2025?
Operating profit was $1.2M (4.3% of revenue) and net earnings $1.8M.
Source: Star 10-Q on SEC EDGAR.