Revenue climbs at Kodak as company advances turnaround plan

Listen to this article

Leaders at Eastman Kodak Company say its long-term strategy to rebuild the iconic brand is gaining traction, highlighted by a stronger balance sheet, steady revenue growth and continued investment in new products and infrastructure. 

The company reported after markets closed Thursday that fourth-quarter 2025 revenue was $290 million, up from $266 million in the fourth quarter of 2024, representing a 9 percent increase. 

For the full year, Kodak reported $1.069 billion in revenue, an increase of $26 million, or 2 percent, compared with 2024. When adjusting for favorable foreign exchange impacts of $11 million, revenue growth was roughly 1 percent year -over-year. 

“We continued to execute our long-term plan to bring Kodak back to its rightful place as an iconic global brand,” said Jim Continenza, Kodak’s executive chairman and CEO. “I’m pleased to report that our plan is on track.” 

One of the most significant financial developments for Kodak in 2025 was the strengthening of its balance sheet. The company now reports more cash than debt, reducing annual interest expenses by approximately $40 million. Leadership says continued debt reduction will remain a priority as the company pursues sustainable growth. 

Kodak ended the year with $337 million in cash, up $136 million from the end of 2024. Much of that increase was tied to the termination of the Kodak Retirement Income Plan and the reversion of plan assets to the company. 

Despite overall operational improvements, Kodak reported a GAAP net loss of $128 million for 2025, compared with net income of $102 million in 2024. The decline was largely attributed to the one-time financial impact of the pension plan termination and associated excise tax. 

Kodak’s print division, the company’s largest revenue generator, continues to play a central role in its strategy, Continenza noted. 

Print revenue reached $195 million in the fourth quarter, up 4 percent from the same period in 2024. Kodak has introduced 14 new print products in recent years, as the company works to expand its commercial printing solutions portfolio. 

The company’s Advanced Materials & Chemicals (AM&C) unit also delivered strong quarterly growth, reporting $85 million in revenue, a 25 percent increase year over year. The division has expanded its line of still films while pursuing new growth initiatives in emerging industrial markets. 

Meanwhile, Kodak’s brand licensing business continues to generate additional revenue streams by extending the Kodak name across consumer and technology products and its film business is also seeing a resurgence, with many of this year’s Oscar nominated movies shot on Kodak film. 

Another major development for the company has been the completion of its cGMP pharmaceutical manufacturing facility at Eastman Business Park. While the project has drawn significant attention, company leaders emphasize that the pharmaceutical business remains a long-term investment. 

Kodak’s near-term focus is obtaining Class 2 certification, which would allow the facility to produce higher-margin specialty pharmaceutical ingredients, Continenza said. Company officials say meaningful revenue from the operation is expected to take several years to materialize. 

Continenza said investments in technology, product innovation and upgraded internal systems are positioning Kodak for its next phase. 

“We are optimistic about taking the next step by operating and selling our way to sustainable growth,” he said. 

Kodak ranked as the region’s third largest manufacturer with 1,300 local employees, according to the most recent RBJ list.

[email protected] / (585) 653-4021