Filing Flows › Z Squared (ZSQR) › Q4 2025
Z Squared (ZSQR) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 19, 2026
Z Squared (ZSQR) reported revenue of $862K for the fourth quarter 2025 (Q4 2025) and +263% from the quarter before. Operating margin was -230.6%, net loss $1.9M (224.8% of revenue).
Z Squared, Q4 2025: revenue $862K, operating margin -230.6%, net loss $1.9M, operating cash flow −$1.7M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $862K | +263% | — |
| Operating profit | −$2.0M | — | — |
| Net earnings | −$1.9M | — | — |
| Operating cash flow | −$1.7M | — | — |
What changed
Revenue was $862K in Q4 2025, up 263% from the previous quarter.
Gross margin was 94.8%. Operating costs exceeded revenue by $2.0M, an operating margin of -230.6%. The quarter ended with a net loss of $1.9M, narrower than the previous quarter's $2.7M loss. Minority interests bore $675K of it: to shareholders the quarter was a loss of $1.3M.
Operating cash flow was −$1.7M. Non-cash charges added back $295K of depreciation and amortization.
Questions
What was Z Squared's revenue in the fourth quarter 2025?
Z Squared (ZSQR) reported revenue of $862K for the fourth quarter 2025 (Q4 2025) and +263% from the quarter before.
Was Z Squared profitable in the fourth quarter 2025?
Operating loss was $2.0M (-230.6% of revenue) and net loss $1.9M.
Source: Z Squared 10-K on SEC EDGAR.