Filing Flows › WaterBridge Infrastructure LLC (WBI) › Q4 2025
WaterBridge Infrastructure LLC (WBI) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 16, 2026
WaterBridge Infrastructure LLC (WBI) reported revenue of $209M for the fourth quarter 2025 (Q4 2025), +140% from a year earlier and +69% from the quarter before. Operating margin was 10.7%, net loss $16.4M (7.9% of revenue).
WaterBridge Infrastructure LLC, Q4 2025: revenue $209M (+140% year over year), operating margin 10.7%, net loss $16.4M, operating cash flow $88.2M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $209M | +69% | +140% |
| Operating profit | $22.3M | -6% | — |
| Net earnings | −$16.4M | -445% | — |
| Operating cash flow | $88.2M | +615% | +854% |
What changed
Revenue was $208.9M in Q4 2025, up 140% year over year and up 69% from the previous quarter.
Operating profit was $22.3M, a 10.7% margin (down 6.7 points year over year). Of the extra revenue versus a year earlier, 6% reached operating profit, below the 17% margin then. Total costs grew 159% against revenue growth of 140%. The fastest-growing cost line was Other operating costs (+201%). The quarter ended with a net loss of $16.4M, after a profit of $4.8M the previous quarter. Net interest and other expense of $39.5M was the main reason.
Operating cash flow was $88.2M (up 854% year over year). Non-cash charges added back $68.7M of depreciation and amortization and $2.7M of share-based compensation. Working capital and other items added $33.2M. Capital expenditures of $89.2M exceeded it, leaving free cash flow of −$1.0M.
Questions
What was WaterBridge Infrastructure LLC's revenue in the fourth quarter 2025?
WaterBridge Infrastructure LLC (WBI) reported revenue of $209M for the fourth quarter 2025 (Q4 2025), +140% from a year earlier and +69% from the quarter before.
Was WaterBridge Infrastructure LLC profitable in the fourth quarter 2025?
Operating profit was $22.3M (10.7% of revenue) and net loss $16.4M.