Filing Flows › Turning Point Brands (TPB) › Q4 2025
Turning Point Brands (TPB) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 2, 2026
Turning Point Brands (TPB) reported revenue of $121M for the fourth quarter 2025 (Q4 2025), +29% from a year earlier and +2% from the quarter before. Operating margin was 16.5%, net earnings $8.2M (6.8% of revenue).
Turning Point Brands, Q4 2025: revenue $121M (+29% year over year), operating margin 16.5%, net earnings $8.2M, operating cash flow $24.9M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $121M | +2% | +29% |
| Gross profit | $67.7M | -4% | +29% |
| Operating profit | $19.9M | -23% | +11% |
| Net earnings | $8.2M | -61% | +240% |
| Operating cash flow | $24.9M | +657% | +40% |
| Free cash flow | $21.5M | — | +29% |
What changed
Revenue was $121.0M in Q4 2025, up 29% year over year and up 2% from the previous quarter.
Gross margin was 55.9%, down 0.1 points from Q4 2024. Operating profit was $19.9M, a 16.5% margin (down 2.6 points year over year). Of the extra revenue versus Q4 2024, 7% reached operating profit, below the 19% margin then. Operating expenses grew 38% against revenue growth of 29%. Net earnings were $8.2M, up 240% year over year. The effective tax rate was 16.1%.
Operating cash flow was $24.9M (up 40% year over year), 213% of net income including minority interests. Non-cash charges added back $1.8M of share-based compensation. Working capital and other items added $11.4M. Capital expenditures of $3.3M left free cash flow of $21.5M.
Questions
What was Turning Point Brands' revenue in the fourth quarter 2025?
Turning Point Brands (TPB) reported revenue of $121M for the fourth quarter 2025 (Q4 2025), +29% from a year earlier and +2% from the quarter before.
Was Turning Point Brands profitable in the fourth quarter 2025?
Operating profit was $19.9M (16.5% of revenue) and net earnings $8.2M.