York Space Systems (YSS) Q4 FY2025 earnings: revenue $105 million

York Space Systems Inc. (YSS) reported revenue of $105 million for Q4 FY2025, the quarter ended 31 December 2025. Net income was -$28 million. The figures are the company's own, from the 10-K it filed with the SEC on 20 March 2026.

Revenue

$105 million

+16.1% on the quarter

Q1 FY2025Q4 FY2025

Operating margin

-16.3%

Q1 FY2025Q4 FY2025

Net income

-$28 million

Q1 FY2025Q4 FY2025

Diluted EPS

n/a

Q1 FY2025Q4 FY2025

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Revenue rose 52% to $386 million: Full-year revenue was $386.2 million, up $133 million or 52%, mainly from increased completion on two Transport Layer Tranche 2 contracts. Gross profit reached $75.5 million.
Backlog converted $319 million to revenue: Backlog ended 2025 at $543 million, down from $861.7 million a year earlier, after $319 million was converted to revenue during the year.
Tranche 1 satellites delivered on orbit: York delivered 21 Tranche 1 Transport Layer satellites to orbit for the Proliferated Warfighter Space Architecture, becoming the first prime to execute an on-orbit delivery under that contract.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q4 FY2025	Q3 FY2025	A year earlier	On the quarter
Revenue	105	90.8	n/a	+16.1%
Cost of revenue	84.3	70.5	n/a	+19.6%
Gross profit	21.1	20.3	n/a	+3.9%
Gross margin	20.0%	22.3%	n/a
Selling, general and administrative	21.5	41.5	n/a	-48.2%
Operating income	-17.1	-25.7	n/a
Operating margin	-16.3%	-28.3%	n/a
Pre-tax income	-23.3	-32.0	n/a
Net income	-28.5	-20.1	n/a
Net margin	-27.0%	-22.1%	n/a

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q4 FY2025	Q3 FY2025	A year earlier	On the quarter	On the year	Last 8 quarters
Operating cash flow	n/a	11.6	n/a
Shares outstanding at period end	0	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q4 FY2025	Q3 FY2025	A year earlier	On the quarter
Redeemable equity	143	n/a	n/a
Debt	149	n/a	n/a
Operating lease liabilities	23.2	n/a	n/a
Total liabilities and equity	1,475	n/a	n/a
Fixed assets	46.3	n/a	n/a
Goodwill	674	n/a	n/a
Intangible assets	408	n/a	n/a
Cash and equivalents	163	22.5	n/a	+621.4%
Receivables	11.5	n/a	n/a
Inventory	18.7	n/a	n/a
Other assets	154	n/a	n/a
Total assets	1,475	1,312	n/a	+12.5%

Questions

What was York Space Systems' revenue in Q4 FY2025?

York Space Systems (YSS) reported revenue of $105 million for Q4 FY2025, the quarter ended 31 December 2025.

How much did York Space Systems earn in Q4 FY2025?

Net loss for Q4 FY2025 was $28 million.

When did York Space Systems report Q4 FY2025 results?

York Space Systems filed its 10-K for the year that ended with the quarter on 20 March 2026; the fourth quarter is the year less the first three.

Quarterly results, the last 6 quarters

	Q1 FY2025	Q2 FY2025	Q3 FY2025 *	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	106	83.8	90.8	105	116	92.5
Cost of revenue	81.7	74.3	70.5	84.3	94.2	70.4
Gross profit	24.6	9.5	20.3	21.1	22.1	22.2
Gross margin	23%	11%	22%	20%	19%	24%
R&D	4.4	4.9	n/a	n/a	5.3	5.8
SG&A	26.8	25.8	41.5	21.5	36.7	40.8
Operating income	-6.6	-21.2	-25.7	-17.1	-110	-41.3
Operating margin	-6%	-25%	-28%	-16%	-95%	-45%
Interest expense	7.1	7.1	n/a	n/a	2.9	2.9
Pre-tax income	-13.0	-26.9	-32.0	-23.3	-115	-39.1
Net income	-11.7	-24.2	-20.1	-28.5	-115	-39.3
Net margin	-11%	-29%	-22%	-27%	-99%	-43%
Diluted EPS	-$0.12	-$0.25	n/a	n/a	-$1.51	-$0.31
Operating cash flow	-79.5	-20.3	11.6	n/a	-84.5	-102
Capital expenditure	1.2	0.1	n/a	n/a	2.1	1.3
Free cash flow	-80.7	-20.4	n/a	n/a	-86.6	-103
Shares outstanding	130m	137m	n/a	0	128m	129m
Filing	10-Q	10-Q	424B4	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A blank figure marked on a quarter is one the filings do not give on their own: the quarters as filed do not add to the year the company filed, or the year and its quarters stand on different share counts. Each quarter's page says which. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-K for the period ended 31 December 2025, filed 20 March 2026: the filing.