Filing Flows › Star Equity Holdings (STRR) › Q3 2025
Star Equity Holdings (STRR) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 14, 2025
Star Equity Holdings (STRR) reported revenue of $48.0M for the third quarter 2025 (Q3 2025), +30% from a year earlier and +35% from the quarter before. Operating margin was -3.4%, net loss $1.8M (3.7% of revenue).
Star Equity Holdings, Q3 2025: revenue $48.0M (+30% year over year), operating margin -3.4%, net loss $1.8M, operating cash flow −$2.7M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $48.0M | +35% | +30% |
| Operating profit | −$1.6M | — | — |
| Net earnings | −$1.8M | — | — |
| Operating cash flow | −$2.7M | -2070% | — |
What changed
Revenue was $48.0M in Q3 2025, up 30% year over year and up 35% from the previous quarter. Revenue from Contracting Customers was the largest line at 40% of revenue.
Gross margin was 43.0%, down 7.5 points from a year earlier. Operating costs exceeded revenue by $1.6M, an operating margin of -3.4%. Operating expenses grew 17% against revenue growth of 30%. The fastest-growing cost line was General & admin (+71%). The quarter ended with a net loss of $1.8M, wider than the previous quarter's $688K loss.
Operating cash flow was −$2.7M. Non-cash charges added back $666K of depreciation and amortization and $369K of share-based compensation. Working capital and other items used $2.0M. Capital expenditures of $615K exceeded it, leaving free cash flow of −$3.4M.
Questions
What was Star Equity Holdings' revenue in the third quarter 2025?
Star Equity Holdings (STRR) reported revenue of $48.0M for the third quarter 2025 (Q3 2025), +30% from a year earlier and +35% from the quarter before.
Was Star Equity Holdings profitable in the third quarter 2025?
Operating loss was $1.6M (-3.4% of revenue) and net loss $1.8M.