Filing Flows › ZeroStack (ZSTK) › Q1 2025
ZeroStack (ZSTK) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 13, 2025
ZeroStack (ZSTK) reported revenue of $11.8M for the first quarter 2025 (Q1 2025), -35% from a year earlier and -12% from the quarter before. Operating margin was -8.3%, net loss $758K (6.4% of revenue).
ZeroStack, Q1 2025: revenue $11.8M (-35% year over year), operating margin -8.3%, net loss $758K, operating cash flow −$2.7M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $11.8M | -12% | -35% |
| Operating profit | −$977K | — | — |
| Net earnings | −$758K | — | — |
| Operating cash flow | −$2.7M | — | — |
What changed
Revenue was $11.8M in Q1 2025, down 35% year over year and down 12% from the previous quarter.
Gross margin was 24.5%, up 3.1 points from a year earlier. Operating costs exceeded revenue by $1.0M, an operating margin of -8.3%. Operating expenses fell 39% while revenue fell 35%. The fastest-growing cost line was Research & development (+140%). The quarter ended with a net loss of $758K, narrower than the previous quarter's $6.1M loss. Non-operating items added $257K, -36% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$2.7M. Non-cash charges added back $182K of depreciation and amortization and $172K of share-based compensation. Working capital and other items used $2.3M. Capital expenditures of $24K exceeded it, leaving free cash flow of −$2.7M.
Questions
What was ZeroStack's revenue in the first quarter 2025?
ZeroStack (ZSTK) reported revenue of $11.8M for the first quarter 2025 (Q1 2025), -35% from a year earlier and -12% from the quarter before.
Was ZeroStack profitable in the first quarter 2025?
Operating loss was $977K (-8.3% of revenue) and net loss $758K.
Source: ZeroStack 10-Q on SEC EDGAR.