Filing Flows › zSpace (ZSPC) › Q4 2025
zSpace (ZSPC) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 30, 2026
zSpace (ZSPC) reported revenue of $4.8M for the fourth quarter 2025 (Q4 2025), -43% from a year earlier and -45% from the quarter before. Operating margin was -116.2%, net loss $7.3M (150.3% of revenue).
zSpace, Q4 2025: revenue $4.8M (-43% year over year), operating margin -116.2%, net loss $7.3M, operating cash flow −$3.9M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.8M | -45% | -43% |
| Operating profit | −$5.6M | — | — |
| Net earnings | −$7.3M | — | — |
| Operating cash flow | −$3.9M | — | — |
What changed
Revenue was $4.8M in Q4 2025, down 43% year over year and down 45% from the previous quarter. Hardware was the largest line at 47% of revenue.
Gross margin was 49.1%, up 8.5 points from Q4 2024. Operating costs exceeded revenue by $5.6M, an operating margin of -116.2%. Operating expenses grew 29% against a revenue fall of 43%. The fastest-growing cost line was Research & development (+69%). The quarter ended with a net loss of $7.3M, wider than the previous quarter's $6.2M loss.
Operating cash flow was −$3.9M. Non-cash charges added back $3K of depreciation and $1.9M of share-based compensation. Working capital and other items added $1.4M.
Questions
What was zSpace's revenue in the fourth quarter 2025?
zSpace (ZSPC) reported revenue of $4.8M for the fourth quarter 2025 (Q4 2025), -43% from a year earlier and -45% from the quarter before.
Was zSpace profitable in the fourth quarter 2025?
Operating loss was $5.6M (-116.2% of revenue) and net loss $7.3M.
Source: zSpace 10-K on SEC EDGAR.