Star Equity Holdings, Inc.

Star Equity Holdings, Inc. reported FY 2025 revenues of $172.2 million, up 23% YoY from $140.1 million in 2024, driven by the August 2025 acquisition of Star Operating Companies adding Building Solutions ($27.6M) and Energy Services ($4.9M) segments, offsetting a slight decline in Business Services from $140.1M to $139.7M. Gross profit rose 14% to $79.9M from $70.2M, with gross margin contracting to 46.4% from 50.1% due to higher costs in new segments. Operating loss narrowed slightly to -$3.7M from -$3.8M, but net loss widened to -$5.9M from -$4.8M, reflecting a $2.1M tax provision and $0.7M preferred dividends, yielding EPS of -$2.00 vs. -$1.59 prior year. Cash used in operations was -$7.3M, with net cash decrease of -$4.3M; total assets grew to $113.2M from $52.6M post-merger. The merger enhances diversification across building, business services, energy, and investments, positioning for organic growth and acquisitions amid competitive markets.

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