Southland Holdings, Inc. announced Q4 and full year 2025 financial results, reporting revenue of $104.0 million and gross loss of $193.4 million for Q4, and revenue of $772.2 million and gross loss of $155.3 million for the year, primarily impacted by a $135.8 million unfavorable adjustment from the Washington State Convention Center adverse ruling. The company launched a strategic plan including capital restructuring with sureties replacing senior lender and providing $116 million in funding.
Key takeaways
Q4 2025 revenue $104.0 million vs $267.3 million in Q4 2024
Q4 2025 gross loss $193.4 million vs gross profit $7.7 million in Q4 2024
Q4 2025 net loss attributable to stockholders $216.4 million or $(4.00) per share
Full year 2025 revenue $772.2 million vs $980.2 million in 2024
Full year 2025 net loss attributable to stockholders $306.5 million or $(5.67) per share
$135.8 million unfavorable WSCC adjustment: $46.7 million revenue reduction and $89.1 million cost increase
Backlog $2.03 billion as of December 31, 2025
Sureties replaced senior lender, assumed $110 million debt, waived payments saving $27 million over next 12 months
$116 million funding from sureties: $14 million as of Dec 31, 2025 and $102 million subsequent