Filing Flows › TTM Technologies (TTMI) › Q2 2025
TTM Technologies (TTMI) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 4, 2025
TTM Technologies (TTMI) reported revenue of $731M for the second quarter 2025 (Q2 2025), +21% from a year earlier and +13% from the quarter before. Operating margin was 8.5%, net earnings $41.5M (5.7% of revenue).
TTM Technologies, Q2 2025: revenue $731M (+21% year over year), operating margin 8.5%, net earnings $41.5M, operating cash flow $97.8M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $731M | +13% | +21% |
| Gross profit | $148M | +13% | +26% |
| Operating profit | $61.8M | +23% | +58% |
| Net earnings | $41.5M | +29% | +58% |
| Operating cash flow | $97.8M | — | +134% |
| Free cash flow | $37.6M | — | +18% |
What changed
Revenue was $730.6M in Q2 2025, up 21% year over year and up 13% from the previous quarter. Commercial was the largest line at 54% of revenue. Commercial added $72.4M year over year (up 22%), 58% of the total change.
Gross margin was 20.3%, up 0.9 points from a year earlier. Operating profit was $61.8M, a 8.5% margin (up 2.0 points year over year). Of the extra revenue versus a year earlier, 18% reached operating profit, above the 6% margin then. Operating expenses grew 10% against revenue growth of 21%. The fastest-growing cost line was General & admin (+29%). Net earnings were $41.5M, up 58% year over year. The effective tax rate was 8.8%.
Operating cash flow was $97.8M (up 134% year over year), 236% of net earnings. Non-cash charges added back $36.9M of depreciation and amortization and $9.2M of share-based compensation. Working capital and other items added $10.2M. After capital expenditures, net ($60.2M), free cash flow as the company reports it was $37.6M.
Questions
What was TTM Technologies' revenue in the second quarter 2025?
TTM Technologies (TTMI) reported revenue of $731M for the second quarter 2025 (Q2 2025), +21% from a year earlier and +13% from the quarter before.
Was TTM Technologies profitable in the second quarter 2025?
Operating profit was $61.8M (8.5% of revenue) and net earnings $41.5M.
Source: TTM Technologies 10-Q on SEC EDGAR.