Filing Flows › Xerox Holdings (XRX) › Q4 2025
Xerox Holdings (XRX) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 17, 2026
Xerox Holdings (XRX) reported revenue of $2.0B for the fourth quarter 2025 (Q4 2025), +26% from a year earlier and +3% from the quarter before. Operating margin was -3.0%, net loss $73.0M (3.6% of revenue).
Xerox Holdings, Q4 2025: revenue $2.0B (+26% year over year), operating margin -3.0%, net loss $73.0M, operating cash flow $208M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.0B | +3% | +26% |
| Operating profit | −$61.0M | — | — |
| Net earnings | −$73.0M | — | — |
| Operating cash flow | $208M | +79% | -41% |
| Free cash flow | $192M | +85% | -45% |
What changed
Revenue was $2.0B in Q4 2025, up 26% year over year and up 3% from the previous quarter. Equipment was the largest line at 24% of revenue.
Operating costs exceeded revenue by $0.06B, an operating margin of -3.0%. Total costs grew 29% against revenue growth of 26%. The fastest-growing cost line was Other operating costs (+34%). The quarter ended with a net loss of $0.07B, narrower than the previous quarter's $0.76B loss.
Operating cash flow was $0.21B (down 41% year over year). Non-cash charges added back $0.11B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $0.16B. Capital expenditures of $0.02B left free cash flow of $0.19B.
Questions
What was Xerox Holdings' revenue in the fourth quarter 2025?
Xerox Holdings (XRX) reported revenue of $2.0B for the fourth quarter 2025 (Q4 2025), +26% from a year earlier and +3% from the quarter before.
Was Xerox Holdings profitable in the fourth quarter 2025?
Operating loss was $61.0M (-3.0% of revenue) and net loss $73.0M.
Source: Xerox Holdings 10-K on SEC EDGAR.