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Jun 30
Kodak Q2 2025 Earnings Report
Kodak reported its second-quarter 2025 financial results, showing a decrease in consolidated revenues and a GAAP net loss.
Key Takeaways
Kodak experienced a challenging second quarter in 2025, with consolidated revenues decreasing by 1% to $263 million and a significant shift from a net income of $26 million in Q2 2024 to a net loss of $26 million. Operational EBITDA also declined by 25% to $9 million, primarily due to lower volumes and higher costs, partially offset by price increases.
Consolidated revenues for Q2 2025 were $263 million, a 1% decrease compared to $267 million in Q2 2024.
The company reported a GAAP net loss of $26 million in Q2 2025, a significant decline from a net income of $26 million in the prior-year quarter.
Operational EBITDA decreased by 25% to $9 million in Q2 2025, down from $12 million in Q2 2024.
Kodak ended the quarter with a cash balance of $155 million, a decrease of $46 million from December 31, 2024, driven by capital expenditures and working capital changes.
Kodak
Kodak
Kodak Revenue by Segment
Revenue by Segment
Print Revenue
CapyFin.comAdvanced Materials & Chemicals Revenue
CapyFin.comBrand Revenue
CapyFin.com Forward Guidance
Kodak plans to focus on serving customers, strengthening its balance sheet, and developing growth businesses for the remainder of the year, with a particular emphasis on the Advanced Materials & Chemicals group. The company is also progressing with the termination of its U.S. Kodak Retirement Income Plan to pay down debt.
Positive Outlook
- Continued progress against long-term plan despite uncertain business environment.
- Assessment of potential impact of new tariffs, with an expectation that they protect U.S. businesses like Kodak.
- Acceleration of growth in the Advanced Materials & Chemicals (AM&C) business.
- AM&C group's cGMP pharmaceutical manufacturing facility is now FDA registered and certified.
- Expected completion of the Kodak Retirement Income Plan reversion by December 2025 to reduce debt.
Challenges Ahead
- Uncertain business environment posing challenges.
- Potential impact of new tariffs going forward.
- Substantial doubt about the Company’s ability to continue as a going concern due to financing plans not being deemed “probable” under U.S. GAAP.
- Need to amend, extend, or refinance remaining debt and preferred stock obligations.
- Reliance on proceeds from the expected reversion of cash from the Kodak Retirement Income Plan to fund obligations.
Revenue & Expenses
Visualization of income flow from segment revenue to net income