Filing Flows › UWM Holdings (UWMC) › Q3 2025
UWM Holdings (UWMC) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
UWM Holdings (UWMC) reported revenue of $843M for the third quarter 2025 (Q3 2025), +13% from a year earlier and +11% from the quarter before. Operating margin was 1.5%, net earnings $12.1M (1.4% of revenue).
UWM Holdings, Q3 2025: revenue $843M (+13% year over year), operating margin 1.5%, net earnings $12.1M, operating cash flow −$3.1B. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $843M | +11% | +13% |
| Operating profit | $12.7M | -96% | -61% |
| Net earnings | $12.1M | -96% | -62% |
| Operating cash flow | −$3.1B | — | — |
What changed
Revenue was $843.3M in Q3 2025, up 13% year over year and up 11% from the previous quarter.
Operating profit was $12.7M, a 1.5% margin (down 2.8 points year over year). Operating profit fell $19.6M even though revenue rose $97.7M versus a year earlier, so costs grew faster than sales. Total costs grew 16% against revenue growth of 13%. Net earnings were −$1.3M. The effective tax rate was 4.6%.
Operating cash flow was −$3,079.3M. Non-cash charges added back $14.1M of depreciation and amortization and $14.7M of share-based compensation. Working capital and other items used $3,120.3M. Capital expenditures of $10.4M exceeded it, leaving free cash flow of −$3,089.7M.
Questions
What was UWM Holdings' revenue in the third quarter 2025?
UWM Holdings (UWMC) reported revenue of $843M for the third quarter 2025 (Q3 2025), +13% from a year earlier and +11% from the quarter before.
Was UWM Holdings profitable in the third quarter 2025?
Operating profit was $12.7M (1.5% of revenue) and net earnings $12.1M.
Source: UWM Holdings 10-Q on SEC EDGAR.