Filing Flows › Terra Property Trust (TPTS) › Q3 2025
Terra Property Trust (TPTS) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 7, 2025
Terra Property Trust (TPTS) reported revenue of $7.3M for the third quarter 2025 (Q3 2025), -40% from a year earlier and -15% from the quarter before. Operating margin was 6.7%, net loss $6.7M (92.4% of revenue).
Terra Property Trust, Q3 2025: revenue $7.3M (-40% year over year), operating margin 6.7%, net loss $6.7M, operating cash flow −$4.3M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $7.3M | -15% | -40% |
| Operating profit | $491K | — | — |
| Net earnings | −$6.7M | — | — |
| Operating cash flow | −$4.3M | -469% | — |
What changed
Revenue was $7.3M in Q3 2025, down 40% year over year and down 15% from the previous quarter.
Operating profit was $491K, a 6.7% margin (down 47.4 points year over year). Total costs grew 22% against a revenue fall of 40%. The quarter ended with a net loss of $6.7M, narrower than the previous quarter's $9.2M loss. Net interest and other expense of $7.2M was the main reason.
Operating cash flow was −$4.3M. Non-cash charges added back $680K of depreciation and amortization. Working capital and other items added $1.8M.
Questions
What was Terra Property Trust's revenue in the third quarter 2025?
Terra Property Trust (TPTS) reported revenue of $7.3M for the third quarter 2025 (Q3 2025), -40% from a year earlier and -15% from the quarter before.
Was Terra Property Trust profitable in the third quarter 2025?
Operating profit was $491K (6.7% of revenue) and net loss $6.7M.