Filing Flows › Select Water Solutions (WTTR) › Q4 2025
Select Water Solutions (WTTR) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 18, 2026
Select Water Solutions (WTTR) reported revenue of $347M for the fourth quarter 2025 (Q4 2025), -0.7% from a year earlier and +8% from the quarter before. Operating margin was -0.1%, net loss $2.1M (0.6% of revenue).
Select Water Solutions, Q4 2025: revenue $347M (-0.7% year over year), operating margin -0.1%, net loss $2.1M, operating cash flow $65.5M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $347M | +8% | -0.7% |
| Operating profit | −$388K | — | -115% |
| Net earnings | −$2.1M | -190% | — |
| Operating cash flow | $65.5M | -9% | -3% |
What changed
Revenue was $346.5M in Q4 2025, down 1% year over year and up 8% from the previous quarter. Water Services was the largest line at 51% of revenue.
Gross margin was 13.1%, up 0.4 points from Q4 2024. Operating costs exceeded revenue by $388K, an operating margin of -0.1%. Operating expenses grew 10% against a revenue fall of 1%. The fastest-growing cost line was Other operating costs (+33%). The quarter ended with a net loss of $2.1M, after a profit of $2.3M the previous quarter. Minority interests bore $1.7M of it: to shareholders the quarter was a loss of $346K. Net interest and other expense of $11.1M was the main reason.
Operating cash flow was $65.5M (down 3% year over year). Non-cash charges added back $52.4M of depreciation and amortization and $5.8M of share-based compensation. Working capital and other items added $9.4M. Capital expenditures of $71.5M exceeded it, leaving free cash flow of −$6.0M.
Questions
What was Select Water Solutions' revenue in the fourth quarter 2025?
Select Water Solutions (WTTR) reported revenue of $347M for the fourth quarter 2025 (Q4 2025), -0.7% from a year earlier and +8% from the quarter before.
Was Select Water Solutions profitable in the fourth quarter 2025?
Operating loss was $388K (-0.1% of revenue) and net loss $2.1M.