Playtika Holding Corp. Reports Q2 2025 Financial Results
Playtika (NASDAQ: PLTK) reported mixed Q2 2025 financial results with revenue of $696.0 million, representing an 11.0% year-over-year increase but a 1.4% sequential decrease. The company's Direct-to-Consumer (DTC) revenue reached $175.9 million, showing 1.3% year-over-year growth.
Key performance metrics include GAAP Net Income of $33.2 million (down 61.7% YoY) and Adjusted EBITDA of $167.0 million (down 12.6% YoY). The company's new game, Disney Solitaire, achieved a $100 million annual run-rate. Playtika increased its long-term DTC revenue target to 40% from 30% and declared a quarterly dividend of $0.10 per share.
The company revised its 2025 revenue guidance to $2.70-$2.75 billion while maintaining Adjusted EBITDA guidance of $715-$740 million.
Playtika (NASDAQ: PLTK) ha riportato risultati finanziari del secondo trimestre 2025 contrastanti con un fatturato di 696,0 milioni di dollari, in crescita dell'11,0% su base annua ma in calo dell'1,4% rispetto al trimestre precedente. I ricavi Direct-to-Consumer (DTC) dell'azienda hanno raggiunto 175,9 milioni di dollari, registrando una crescita dell'1,3% anno su anno.
Le principali metriche di performance includono un utile netto GAAP di 33,2 milioni di dollari (in calo del 61,7% su base annua) e un EBITDA rettificato di 167,0 milioni di dollari (in diminuzione del 12,6% anno su anno). Il nuovo gioco dell'azienda, Disney Solitaire, ha raggiunto un tasso annuo di ricavi di 100 milioni di dollari. Playtika ha aumentato il suo obiettivo a lungo termine per i ricavi DTC dal 30% al 40% e ha dichiarato un dividendo trimestrale di 0,10 dollari per azione.
La società ha rivisto le previsioni di fatturato per il 2025 a 2,70-2,75 miliardi di dollari, mantenendo però le stime di EBITDA rettificato tra 715 e 740 milioni di dollari.
Playtika (NASDAQ: PLTK) reportó resultados financieros mixtos en el segundo trimestre de 2025 con ingresos de 696.0 millones de dólares, lo que representa un aumento interanual del 11.0% pero una disminución secuencial del 1.4%. Los ingresos de la compañía Direct-to-Consumer (DTC) alcanzaron los 175.9 millones de dólares, mostrando un crecimiento interanual del 1.3%.
Las métricas clave incluyen un Ingreso Neto GAAP de 33.2 millones de dólares (una caída del 61.7% interanual) y un EBITDA Ajustado de 167.0 millones de dólares (una disminución del 12.6% interanual). El nuevo juego de la compañía, Disney Solitaire, alcanzó una tasa anual de ingresos de 100 millones de dólares. Playtika aumentó su objetivo a largo plazo de ingresos DTC del 30% al 40% y declaró un dividendo trimestral de 0.10 dólares por acción.
La empresa revisó su guía de ingresos para 2025 a 2.70-2.75 mil millones de dólares, manteniendo la guía de EBITDA Ajustado entre 715 y 740 millones de dólares.
Playtika (NASDAQ: PLTK)� 2025� 2분기 실적에서 6� 9,600� 달러� 매출� 보고했으�, 이는 전년 대� 11.0% 증가했으� 전분� 대� 1.4% 감소� 수치입니�. 회사� Direct-to-Consumer(DTC) 매출은 1� 7,590� 달러� 전년 대� 1.3% 성장했습니다.
주요 성과 지표로� GAAP 순이� 3,320� 달러(전년 대� 61.7% 감소)와 조정 EBITDA 1� 6,700� 달러(전년 대� 12.6% 감소)가 있습니다. 회사� 신작 게임� 디즈� 솔리테어� 연간 1� 달러 매출 런레이트� 달성했습니다. Playtika� 장기 DTC 매출 목표� 30%에서 40%� 상향 조정하고, 주당 분기 배당� 0.10달러� 발표했습니다.
회사� 2025� 매출 가이던스를 27억~27� 5천만 달러� 수정했으�, 조정 EBITDA 가이던스는 7� 1,500만~7� 4,000� 달러� 유지했습니다.
Playtika (NASDAQ : PLTK) a publié des résultats financiers mitigés pour le deuxième trimestre 2025 avec un chiffre d'affaires de 696,0 millions de dollars, soit une augmentation de 11,0 % en glissement annuel mais une baisse de 1,4 % séquentielle. Les revenus Direct-to-Consumer (DTC) de la société ont atteint 175,9 millions de dollars, affichant une croissance annuelle de 1,3 %.
Les indicateurs clés de performance comprennent un bénéfice net GAAP de 33,2 millions de dollars (en baisse de 61,7 % sur un an) et un EBITDA ajusté de 167,0 millions de dollars (en recul de 12,6 % sur un an). Le nouveau jeu de la société, Disney Solitaire, a atteint un taux annuel de revenus de 100 millions de dollars. Playtika a relevé son objectif à long terme de revenus DTC de 30 % à 40 % et a déclaré un dividende trimestriel de 0,10 dollar par action.
La société a révisé ses prévisions de chiffre d'affaires pour 2025 à 2,70-2,75 milliards de dollars tout en maintenant ses prévisions d'EBITDA ajusté entre 715 et 740 millions de dollars.
Playtika (NASDAQ: PLTK) meldete gemischte Finanzergebnisse für das zweite Quartal 2025 mit einem Umsatz von 696,0 Millionen US-Dollar, was einem Anstieg von 11,0 % im Jahresvergleich, aber einem Rückgang von 1,4 % im Quartalsvergleich entspricht. Der Direct-to-Consumer (DTC) Umsatz des Unternehmens erreichte 175,9 Millionen US-Dollar und verzeichnete ein Wachstum von 1,3 % im Jahresvergleich.
Wichtige Leistungskennzahlen umfassen einen GAAP-Nettogewinn von 33,2 Millionen US-Dollar (Rückgang um 61,7 % im Jahresvergleich) und ein bereinigtes EBITDA von 167,0 Millionen US-Dollar (Rückgang um 12,6 % im Jahresvergleich). Das neue Spiel des Unternehmens, Disney Solitaire, erreichte eine jährliche Umsatzrate von 100 Millionen US-Dollar. Playtika erhöhte sein langfristiges DTC-Umsatzziel von 30 % auf 40 % und erklärte eine vierteljährliche Dividende von 0,10 US-Dollar je Aktie.
Das Unternehmen passte seine Umsatzprognose für 2025 auf 2,70 bis 2,75 Milliarden US-Dollar an, behielt jedoch die bereinigte EBITDA-Prognose von 715 bis 740 Millionen US-Dollar bei.
- Disney Solitaire reached $100 million annual run-rate revenue
- Overall revenue increased 11.0% year-over-year to $696.0 million
- Average Daily Paying Users increased 26.8% year-over-year to 378K
- Payer Conversion improved to 4.3% from 3.7% year-over-year
- Bingo Blitz revenue grew 2.9% year-over-year to $160.2 million
- Net Income decreased 61.7% year-over-year to $33.2 million
- Adjusted EBITDA declined 12.6% year-over-year to $167.0 million
- Slotomania revenue dropped 35.4% year-over-year to $86.5 million
- June's Journey revenue decreased 7.4% year-over-year to $69.1 million
- DTC platforms revenue showed minimal growth of 1.3% year-over-year
Insights
Playtika reports mixed Q2 results with 11% YoY revenue growth but declining margins and significant drops in adjusted net income.
Playtika's Q2 2025 results present a mixed financial picture with revenue reaching
The company's adjusted net income plummeted by
The user engagement metrics show positive momentum with Average Daily Paying Users increasing
There's notable portfolio volatility within Playtika's game lineup. While their new Disney Solitaire title has reached a
The strategic shift toward direct-to-consumer (DTC) revenue, with an increased long-term target from
Management's decision to revise revenue guidance while maintaining EBITDA targets suggests they anticipate continued margin pressure but believe cost controls can offset lower-than-expected revenue. With
Revenue of
Revenue Decreased (1.4)% Sequentially and Increased
DTC Platforms Revenue Decreased (1.8)% Sequentially and Increased
HERZLIYA, Israel, Aug. 07, 2025 (GLOBE NEWSWIRE) -- Playtika Holding Corp. (NASDAQ: PLTK) today released financial results for its second quarter for the period ending June 30, 2025.
Financial Highlights
- Revenue of
$696.0 million decreased (1.4)% sequentially and increased11.0% year over year. - DTC platforms revenue of
$175.9 million decreased (1.8)% sequentially and increased1.3% year over year. - GAAP Net Income of
$33.2 million increased8.5% sequentially and decreased (61.7)% year over year. - Adjusted Net Income of
$6.5 million decreased (82.0)% sequentially and (91.4)% year over year. - Adjusted EBITDA of
$167.0 million decreased (0.2)% sequentially and (12.6)% year over year. - Cash, cash equivalents, and short-term investments totaled
$592.1 million as of June 30, 2025.
“We are pleased to report a resilient second quarter, with revenue reaching
“Our DTC business remains a key priority as we navigate the competitive landscape of mobile gaming,� said Craig Abrahams, President and Chief Financial Officer. “We are increasing our long-term target for DTC to
Selected Operational Metrics and Business Highlights
- Average Daily Paying Users of 378K decreased (3.1)% sequentially and increased
26.8% year over year. - Average Payer Conversion of
4.3% , up from3.7% in Q2 2024 and consistent with Q1 2025 conversion. - Bingo Blitz revenue of
$160.2 million decreased (1.3)% sequentially and increased2.9% year over year. - Slotomania revenue of
$86.5 million decreased (22.7)% sequentially and decreased (35.4)% year over year. - June’s Journey revenue of
$69.1 million increased0.3% sequentially and decreased (7.4)% year over year. - Announced plans for global launch of new slot game, Jackpot Tour, in Q4 2025.
Playtika Announces Quarterly Dividend
Playtika’s Board of Directors declared a cash dividend of
Financial Outlook
We are revising our guidance of revenue between
Conference Call
Playtika management will host a conference call at 5:30 a.m. Pacific Time (8:30 a.m. Eastern Time) today to discuss the company’s results. The conference call can be accessed via a webcast accessible at investors.playtika.com. A replay of the call will be available through the website one hour following the call and will be archived for one year.
Summary Operating Results of Playtika Holding Corp.
Three months ended June 30, | Six months ended June 30, | ||||||||||||||
(in millions, except percentages, Average DPUs, and ARPDAU) | 2025 | 2024 | 2025 | 2024 | |||||||||||
Revenues | $ | 696.0 | $ | 627.0 | $ | 1,402.0 | $ | 1,278.2 | |||||||
Total costs and expenses | $ | 586.3 | $ | 486.3 | $ | 1,224.5 | $ | 1,039.4 | |||||||
Operating income | $ | 109.7 | $ | 140.7 | $ | 177.5 | $ | 238.8 | |||||||
Net income (loss) | $ | 33.2 | $ | 86.6 | $ | 63.8 | $ | 139.6 | |||||||
Adjusted EBITDA | $ | 167.0 | $ | 191.0 | $ | 334.3 | $ | 376.6 | |||||||
Net income (loss) margin | 4.8 | % | 13.8 | % | 4.6 | % | 10.9 | % | |||||||
Adjusted EBITDA margin | 24.0 | % | 30.5 | % | 23.8 | % | 29.5 | % | |||||||
Non-financial performance metrics | |||||||||||||||
Average DAUs | 8.8 | 8.1 | 8.9 | 8.4 | |||||||||||
Average DPUs (in thousands) | 378 | 298 | 384 | 303 | |||||||||||
Average Daily Payer Conversion | 4.3 | % | 3.7 | % | 4.3 | % | 3.6 | % | |||||||
ARPDAU | $ | 0.87 | $ | 0.85 | $ | 0.87 | $ | 0.83 | |||||||
Average MAUs | 30.0 | 27.7 | 30.9 | 30.3 |
About Playtika Holding Corp.
ʱپ첹�(ٴ:�PLTK) is a mobile gaming entertainment and technology market leader with a portfolio of multiple game titles. Founded in 2010, Playtika was among the first to offer free-to-play social games on social networks and, shortly after, on mobile platforms. Headquartered in Herzliya, Israel, and guided by a mission to entertain the world through infinite ways to play, Playtika has employees across offices worldwide.
Forward Looking Information
This press release contains “forward-looking statements� within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Section 21E of the Exchange Act. All statements other than statements of historical facts contained in this press release, including statements regarding our business strategy, plans and our objectives for future operations, are forward-looking statements. Further, statements that include words such as “anticipate,� “believe,� “continue,� “could,� “estimate,� “expect,� “future,� “intend,� “intent,� “may,� “might,� “potential,� “present,� “preserve,� “project,� “pursue,� “should,� “will,� or “would,� or the negative of these words or other words or expressions of similar meaning may identify forward-looking statements.
We have based these forward-looking statements largely on our current expectations and projections about future events and trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives, and financial needs. The achievement or success of the matters covered by such forward-looking statements involves significant risks, uncertainties and assumptions, including, but not limited to, the risks and uncertainties discussed in our filings with the Securities and Exchange Commission. Moreover, we operate in a very competitive and rapidly changing environment and industry. As a result, it is not possible for our management to assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, the forward-looking statements discussed in this press release may not occur and actual results could differ materially and adversely from those anticipated, predicted or implied in the forward-looking statements.
Important factors that could cause actual results to differ materially from estimates or projections contained in the forward-looking statements include without limitation:
- actions of our majority shareholder or other third parties that influence us;
- our reliance on third-party platforms, such as the iOS App Store and Google Play Store, to distribute our games and collect revenues, and the risk that such platforms may adversely change their policies;
- our reliance on a limited number of games to generate the majority of our revenue;
- our reliance on a small percentage of total users to generate a majority of our revenue;
- our free-to-play business model, and the value of virtual items sold in our games, is highly dependent on how we manage the game revenues and pricing models;
- our inability to integrate SuperPlay into our operations successfully or realize the anticipated benefits of this acquisition, along with our inability to identify acquisition targets that fit our strategy or complete acquisitions and integrate any acquired businesses successfully, could limit our growth, disrupt our plans and operations, or impact the amount of capital allocated to mergers and acquisitions;
- our ability to compete in a highly competitive industry with low barriers to entry;
- our ability to retain existing players, attract new players and increase the monetization of our player base;
- our ability to develop and/or launch new products and content or otherwise execute against our product roadmap strategy;
- we have significant indebtedness and are subject to the obligations and restrictive covenants under our debt instruments;
- our inability to obtain additional financing on favorable terms or at all;
- the extension of the maturity date of our senior secured revolving credit facility from March 2026 to September 2027 remains subject to the satisfaction of certain conditions, including a regulatory approval in China, and a failure to satisfy such conditions could result in the termination of our revolving credit facility in March 2026;
- our controlled company status;
- legal or regulatory restrictions or proceedings could adversely impact our business and limit the growth of our operations;
- risks related to our international operations and ownership, including our significant operations in Israel and Ukraine and the fact that our controlling stockholder is a Chinese-owned company;
- geopolitical events such as the Wars in Israel and Ukraine;
- our reliance on key personnel;
- market conditions or other factors affecting the payment of dividends, including the decision whether or not to pay a dividend;
- uncertainties regarding the amount and timing of repurchases under our stock repurchase program;
- security breaches or other disruptions could compromise our information or our players� information and expose us to liability; and
- our inability to protect our intellectual property and proprietary information could adversely impact our business.
PLAYTIKA HOLDING CORP. CONSOLIDATED BALANCE SHEETS (In millions, except par value) | |||||||
June 30, | December 31, | ||||||
2025 | 2024 | ||||||
(Unaudited) | |||||||
ASSETS | |||||||
Current assets | |||||||
Cash and cash equivalents | $ | 500.9 | $ | 565.8 | |||
Short-term investments | 91.2 | � | |||||
Restricted cash | 1.5 | 1.9 | |||||
Accounts receivable | 194.0 | 187.6 | |||||
Prepaid expenses and other current assets | 128.9 | 117.5 | |||||
Total current assets | 916.5 | 872.8 | |||||
Property and equipment, net | 105.3 | 115.4 | |||||
Operating lease right-of-use assets | 115.5 | 89.9 | |||||
Intangible assets other than goodwill, net | 495.5 | 562.2 | |||||
Goodwill | 1,706.1 | 1,692.3 | |||||
Deferred tax assets, net | 116.8 | 119.0 | |||||
Investments in unconsolidated entities | 20.9 | 20.6 | |||||
Other non-current assets | 160.2 | 167.0 | |||||
Total assets | $ | 3,636.8 | $ | 3,639.2 | |||
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) | |||||||
Current liabilities | |||||||
Current maturities of long-term debt | $ | 11.1 | $ | 11.6 | |||
Accounts payable | 72.1 | 58.6 | |||||
Operating lease liabilities, current | 21.0 | 25.7 | |||||
Accrued expenses and other current liabilities | 560.3 | 463.0 | |||||
Total current liabilities | 664.5 | 558.9 | |||||
Long-term debt | 2,383.3 | 2,388.5 | |||||
Contingent consideration | 150.0 | 354.6 | |||||
Other long-term liabilities | 404.5 | 372.2 | |||||
Operating lease liabilities, long-term | 109.9 | 71.4 | |||||
Deferred tax liabilities | 12.4 | 24.7 | |||||
Total liabilities | 3,724.6 | 3,770.3 | |||||
Commitments and contingencies | |||||||
Stockholders' equity (deficit) | |||||||
Common stock of | 4.1 | 4.1 | |||||
Treasury stock at cost (51.8 shares at both June30, 2025 and December 31, 2024) | (603.5 | ) | (603.5 | ) | |||
Additional paid-in capital | 1,393.6 | 1,362.7 | |||||
Accumulated other comprehensive income | 23.6 | (0.2 | ) | ||||
Accumulated deficit | (905.6 | ) | (894.2 | ) | |||
Total stockholders' deficit | (87.8 | ) | (131.1 | ) | |||
Total liabilities and stockholders� deficit | $ | 3,636.8 | $ | 3,639.2 |
PLAYTIKA HOLDING CORP. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (In millions, except for per share data) (Unaudited) | |||||||||||||
Three months ended June 30, | Six months ended June 30, | ||||||||||||
2025 | 2024 | 2025 | 2024 | ||||||||||
Revenues | $ | 696.0 | $ | 627.0 | $ | 1,402.0 | $ | 1,278.2 | |||||
Costs and expenses | |||||||||||||
Cost of revenue | 195.8 | 168.2 | 393.2 | 345.2 | |||||||||
Research and development | 114.5 | 100.6 | 218.3 | 207.5 | |||||||||
Sales and marketing | 257.7 | 169.4 | 529.5 | 359.8 | |||||||||
General and administrative | 17.9 | 48.1 | 83.1 | 119.9 | |||||||||
Impairment charges | 0.4 | � | 0.4 | 7.0 | |||||||||
Total costs and expenses | 586.3 | 486.3 | 1,224.5 | 1,039.4 | |||||||||
Income from operations | 109.7 | 140.7 | 177.5 | 238.8 | |||||||||
Interest and other, net | 64.6 | 20.4 | 91.3 | 43.6 | |||||||||
Income before income taxes | 45.1 | 120.3 | 86.2 | 195.2 | |||||||||
Provision for income taxes | 11.9 | 33.7 | 22.4 | 55.6 | |||||||||
Net income | 33.2 | 86.6 | 63.8 | 139.6 | |||||||||
Other comprehensive income (loss) | |||||||||||||
Foreign currency translation | 15.5 | (1.5 | ) | 22.7 | (5.5 | ) | |||||||
Change in fair value of derivatives | 7.8 | (3.3 | ) | 1.1 | 2.4 | ||||||||
Total other comprehensive income (loss) | 23.3 | (4.8 | ) | 23.8 | (3.1 | ) | |||||||
Comprehensive income | $ | 56.5 | $ | 81.8 | $ | 87.6 | $ | 136.5 | |||||
Net income per share attributable to common stockholders, basic | $ | 0.09 | $ | 0.23 | $ | 0.17 | $ | 0.38 | |||||
Net income per share attributable to common stockholders, diluted | $ | 0.09 | $ | 0.23 | $ | 0.17 | $ | 0.38 | |||||
Weighted-average shares used in computing net income per share attributable to common stockholders, basic | 375.5 | 371.4 | 375.4 | 370.9 | |||||||||
Weighted-average shares used in computing net income per share attributable to common stockholders, diluted | 375.6 | 371.8 | 375.8 | 371.3 |
PLAYTIKA HOLDING CORP. CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) (Unaudited) | |||||||
Six months ended June 30, | |||||||
2025 | 2024 | ||||||
Cash flows from operating activities | $ | 164.9 | $ | 180.1 | |||
Cash flows from investing activities | |||||||
Purchase of property and equipment | (15.2 | ) | (23.3 | ) | |||
Capitalization of internal use software costs | (15.9 | ) | (19.5 | ) | |||
Purchase of software for internal use | (14.2 | ) | (15.2 | ) | |||
Purchase of short-term investments | (159.8 | ) | (390.1 | ) | |||
Proceeds from short-term investments | 69.1 | � | |||||
Other investing activities | 0.8 | (1.0 | ) | ||||
Net cash used in investingactivities | (135.2 | ) | (449.1 | ) | |||
Cash flows from financing activities | |||||||
Dividend paid | (74.9 | ) | (37.1 | ) | |||
Repayments on bank borrowings | (9.5 | ) | (9.5 | ) | |||
Payment for share buyback | (10.9 | ) | � | ||||
Payment of tax withholdings on stock-based payments | (1.7 | ) | (1.3 | ) | |||
Net cashout flow for business acquisitions | � | (0.7 | ) | ||||
Net cash used in financing activities | (97.0 | ) | (48.6 | ) | |||
Effect of exchange rate changes on cash and cash equivalents and restricted cash | 2.0 | (2.3 | ) | ||||
Net change in cash, cash equivalents and restricted cash | (65.3 | ) | (319.9 | ) | |||
Cash, cash equivalents and restricted cash at the beginning of the period | 567.7 | 1,031.7 | |||||
Cash, cash equivalents and restricted cash at the end of the period | $ | 502.4 | $ | 711.8 |
CALCULATION OF FREE CASH FLOW (In millions) | |||||||
Six months ended June 30, | |||||||
2025 | 2024 | ||||||
Cash flows from operating activities | $ | 164.9 | $ | 180.1 | |||
Purchase of property and equipment | (15.2 | ) | (23.3 | ) | |||
Capitalization of internal use software costs | (15.9 | ) | (19.5 | ) | |||
Purchase of software for internal use | (14.2 | ) | (15.2 | ) | |||
Free Cash Flow | $ | 119.6 | $ | 122.1 |
Non-GAAP Financial Measures
Adjusted EBITDA and Adjusted Net Income are non-GAAP financial measures and should not be construed as an alternative to net income as an indicator of operating performance, nor as an alternative to cash flow provided by operating activities as a measure of liquidity, or any other performance measure in each case as determined in accordance with GAAP.
Our Credit Agreement defines Adjusted EBITDA as net income before (i) interest expense, (ii) interest income, (iii) provision for income taxes, (iv) depreciation and amortization expense, (v) impairment charges, (vi) stock-based compensation, (vii) contingent consideration, (viii) acquisition and related expenses, and (ix) certain other items. We calculate Adjusted EBITDA Margin as Adjusted EBITDA divided by revenues.
We define Adjusted Net Income as net income before (i) impairment charges, and (ii) contingent consideration.
Adjusted EBITDA, Adjusted EBITDA Margin and Adjusted Net Income as calculated herein may not be comparable to similarly titled measures reported by other companies within the industry and are not determined in accordance with GAAP. Our presentation of Adjusted EBITDA, Adjusted EBITDA Margin and Adjusted Net Income should not be construed as an inference that our future results will be unaffected by unusual or unexpected items.
RECONCILIATION OF NET INCOME TO ADJUSTED EBITDA (In millions) | |||||||||||||||
The following table sets forth a reconciliation of Adjusted EBITDA to net income, the closest GAAP financial measure: | |||||||||||||||
Three months ended June 30, | Six months ended June 30, | ||||||||||||||
2025 | 2024 | 2025 | 2024 | ||||||||||||
Net income | $ | 33.2 | $ | 86.6 | $ | 63.8 | $ | 139.6 | |||||||
Provision for income taxes | 11.9 | 33.7 | 22.4 | 55.6 | |||||||||||
Interest expense and other, net | 64.6 | 20.4 | 91.3 | 43.6 | |||||||||||
Depreciation and amortization | 61.0 | 38.7 | 120.2 | 77.9 | |||||||||||
EBITDA | 170.7 | 179.4 | 297.7 | 316.7 | |||||||||||
Stock-based compensation(1) | 17.5 | 22.9 | 43.0 | 46.6 | |||||||||||
Impairment charge | 0.4 | � | 0.4 | 7.0 | |||||||||||
Changes in estimated value of contingent consideration | (33.0 | ) | (16.3 | ) | (26.1 | ) | (13.4 | ) | |||||||
Acquisition and related expenses(2) | 3.6 | 0.5 | 10.1 | 2.7 | |||||||||||
Other items(3) | 7.8 | 4.5 | 9.2 | 17.0 | |||||||||||
Adjusted EBITDA | $ | 167.0 | $ | 191.0 | $ | 334.3 | $ | 376.6 | |||||||
Net income margin | 4.8 | % | 13.8 | % | 4.6 | % | 10.9 | % | |||||||
Adjusted EBITDA margin | 24.0 | % | 30.5 | % | 23.8 | % | 29.5 | % |
_________
(1)Reflects stock-based compensation expense related to the issuance of equity awards to our employees and Directors.
(2)Includes costs incurred to evaluate and pursue acquisition activities as well as costs incurred by the Company in connection with the evaluation of strategic alternatives.
(3)Amounts for the three and six months ended June30, 2025 consists of
Amounts for the three and six months ended June 30, 2024 consist primarily of
RECONCILIATION OF NET INCOME TO ADJUSTED NET INCOME (In millions) | |||||||||||||||
The following table sets forth a reconciliation of Adjusted Net Income to net income, the closest GAAP financial measure: | |||||||||||||||
Three months ended June 30, | Six months ended June 30, | ||||||||||||||
2025 | 2024 | 2025 | 2024 | ||||||||||||
Net income | $ | 33.2 | $ | 86.6 | $ | 63.8 | $ | 139.6 | |||||||
Impairment charge | 0.4 | � | 0.4 | 7.0 | |||||||||||
Changes in estimated value of contingent consideration | (33.0 | ) | (16.3 | ) | (26.1 | ) | (13.4 | ) | |||||||
Income tax impact of adjustments | 5.9 | 5.7 | 4.6 | 2.7 | |||||||||||
Adjusted Net Income | $ | 6.5 | $ | 76.0 | $ | 42.7 | $ | 135.9 |
Contacts
Investor Relations
Tae Lee
[email protected]
