Kodak reports fourth-quarter revenue up 9 percent, full year up 2 percent

Eastman Kodak Co. reported fourth-quarter consolidated revenues of $290 million, compared with $266 million for Q4 2024, a 9 percent increase. By segment, Advanced Materials & Chemicals (AM&C) revenues were $85 million, compared with $68 million for Q4 2024, an increase of $17 million or 25 percent and Print revenues were $195 million, compared with $187 million for Q4 2024, an increase of $8 million or 4 percent. For the quarter, gross profit was $67 million, compared with $51 million for Q4 2024, an increase of $16 million or 31 percent

“Kodak ended 2025 with a strong fourth quarter, which has created a foundation for growth in 2026,” said Jim Continenza, Kodak’s Executive Chairman and CEO. “We continue to execute the long-term plan we began in 2019, which focuses on de-levering the company while continuing to invest in our infrastructure and new product innovation. Those investments are now paying dividends. Today Kodak has a stronger balance sheet than we’ve had in years, and we have reduced our annual interest expense by approximately $40 million. Our print business has launched 14 new products in the past few years, and our AM&C unit has introduced a range of still films and developed a number of growth initiatives in promising new businesses. We have updated our internal IT and reporting systems which allow us to streamline processes, reduce operating expenses and better serve our customers. I am optimistic about taking the next step by operating and selling our way to sustainable growth.”

For the full year ended December 31, 2025, revenues were $1.069 billion, an increase of $26 million or 2 percent compared to the same period in 2024. Adjusting for the favorable impact of foreign exchange of $11 million, revenues increased by $15 million, or 1 percent compared to the prior year.

GAAP net loss was $128 million for the full year 2025, compared to GAAP net income of $102 million in 2024, a decrease of $230 million. The decline in net income was primarily due to the non-recurring impact of the Kodak Retirement Income Plan (“KRIP”) termination and excise tax paid on the reversion of assets to the Company. Operational EBITDA for the year ended December 31, 2025, was $62 million, compared to $26 million in 2024, an increase of $36 million or 138 percent. The increase in Operational EBITDA was primarily driven by improved pricing, operational efficiencies and lower spend on investments in organizational structure, lower inventory reserve adjustments in Electrophotographic Printing Solutions (“EPS”) compared to the prior year and favorable foreign currency fluctuations. These favorable impacts were partially offset by higher manufacturing and aluminum costs.

Kodak ended the year with a cash balance of $337 million, up $136 million from Dec. 31, 2024.

Revenue and Operational EBITDA by Reportable Segment Q4 2025 vs. Q4 2024

Revenue and Operational EBITDA by Reportable Segment FY 2025 vs. FY 2024

* Total Operational EBITDA is a non-GAAP financial measure. The reconciliation between GAAP and non-GAAP measures is provided in Appendix A of this press release.

** The impact of foreign exchange represents the foreign exchange impact using average foreign exchange rates for the three or twelve months ended December 31, 2024, rather than the actual average exchange rates in effect for the three or twelve months ended December 31, 2025. Foreign exchange did not impact Operational EBITDA in the fourth quarter for 2025.

Eastman Business Park segment is not a reportable segment and is excluded from the tables above.