Filing Flows › UWM Holdings (UWMC) › Q2 2025
UWM Holdings (UWMC) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 7, 2025
UWM Holdings (UWMC) reported revenue of $759M for the second quarter 2025 (Q2 2025), +22% from a year earlier and +24% from the quarter before. Operating margin was 43.4%, net earnings $22.9M (3.0% of revenue).
UWM Holdings, Q2 2025: revenue $759M (+22% year over year), operating margin 43.4%, net earnings $22.9M, operating cash flow −$266M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $759M | +24% | +22% |
| Operating profit | $329M | — | +327% |
| Net earnings | $22.9M | — | +651% |
| Operating cash flow | −$266M | -145% | — |
What changed
Revenue was $758.7M in Q2 2025, up 22% year over year and up 24% from the previous quarter.
Operating profit was $329.4M, a 43.4% margin (up 31.0 points year over year). Of the extra revenue versus a year earlier, 185% reached operating profit, above the 12% margin then. Total costs fell 21% while revenue rose 22%. Net earnings were $22.9M, up 651% year over year. The effective tax rate was 4.5%.
Operating cash flow was −$265.9M. Non-cash charges added back $13.5M of depreciation and amortization and $11.7M of share-based compensation. Working capital and other items used $605.6M. Capital expenditures of $24.2M exceeded it, leaving free cash flow of −$290.1M.
Questions
What was UWM Holdings' revenue in the second quarter 2025?
UWM Holdings (UWMC) reported revenue of $759M for the second quarter 2025 (Q2 2025), +22% from a year earlier and +24% from the quarter before.
Was UWM Holdings profitable in the second quarter 2025?
Operating profit was $329M (43.4% of revenue) and net earnings $22.9M.
Source: UWM Holdings 10-Q on SEC EDGAR.