Latest news with #non-GAAP
Business Wire
a day ago
- Business
- Business Wire
Accenture Reports Third-Quarter Fiscal 2025 Results
NEW YORK--(BUSINESS WIRE)--Accenture (NYSE: ACN) reported financial results for the third quarter of fiscal 2025 ended May 31, 2025. All comparisons are to the third quarter of fiscal 2024, unless noted otherwise. Accenture Chair and CEO Julie Sweet 'I am very pleased with our third quarter fiscal 2025 results, including our 30 clients with quarterly bookings greater than $100 million, broad-based growth and continued expansion of our leadership in Gen AI. Companies need resilience and results, and we are laser-focused on delivering measurable value for our clients, which is fueling our growth and making a difference for us in the market. I want to thank our more than 790,000 people for all they do every day to deliver on the promise of technology and human ingenuity as only Accenture can.' Third Quarter Fiscal 2025 Key Metrics New bookings of $19.7 billion, a decrease of 6% in U.S. dollars and 7% in local currency Generative AI new bookings of $1.5 billion Revenues of $17.7 billion, an increase of 8% in U.S. dollars and 7% in local currency Operating margin of 16.8%, an increase of 80 basis points, and an increase of 40 basis points compared to adjusted 1 operating margin Diluted earnings per share of $3.49, a 15% increase, and a 12% increase over adjusted EPS Free cash flow of $3.5 billion Quarterly cash dividend of $1.48 per share, representing a 15% increase; repurchases or redemptions of 6.0 million shares for a total of $1.8 billion Fiscal 2025 Business Outlook Highlights Company now expects full-year revenue growth to be 6% to 7% in local currency Updates foreign exchange impact to positive 0.2% Now expects operating margin to be 15.6%, an expansion of 10 basis points over adjusted operating margin Now expects diluted earnings per share to be in the range of $12.77 to $12.89 Raises free cash flow to be in the range of $9.0 billion to $9.7 billion 1 Adjusted financial measures presented in this release are non-GAAP financial measures that exclude business optimization costs recorded in fiscal 2024 as further described in this release. Conference Call and Webcast Details Accenture will host a conference call at 8:00 a.m. EDT today to discuss its third quarter fiscal 2025 financial results. To participate in the teleconference, please dial +1 (877) 883-0383 [+1 (412) 317-6061 outside the U.S., Puerto Rico and Canada] and enter access code 6485273 approximately 15 minutes before the scheduled start of the call. The conference call will also be accessible live via webcast on the Investor Relations section of the Accenture website at A replay will be available on this website following the call. About Accenture Accenture is a leading global professional services company that helps the world's leading businesses, governments and other organizations build their digital core, optimize their operations, accelerate revenue growth and enhance citizen services—creating tangible value at speed and scale. We are a talent- and innovation-led company with approximately 791,000 people serving clients in more than 120 countries. Technology is at the core of change today, and we are one of the world's leaders in helping drive that change, with strong ecosystem relationships. We combine our strength in technology and leadership in cloud, data and AI with unmatched industry experience, functional expertise and global delivery capability. Our broad range of services, solutions and assets across Strategy & Consulting, Technology, Operations, Industry X and Song, together with our culture of shared success and commitment to creating 360° value, enable us to help our clients reinvent and build trusted, lasting relationships. We measure our success by the 360° value we create for our clients, each other, our shareholders, partners and communities. Visit us at
Cision Canada
3 days ago
- Business
- Cision Canada
Aurora Cannabis Files Full Year Results and Announces Fiscal 2025 Fourth Quarter
NASDAQ| TSX: ACB Achieves Record Annual Global Medical Cannabis Net Revenue 1 of $244.4 million, representing 39% YoY growth Delivers Record Adjusted EBITDA 1 of $49.7 million, representing 261% YoY growth Generates Annual Positive Free Cash Flow 1 of $9.9 million Sustains Strong Balance Sheet with ~$185.3 million of Cash and Debt-Free Cannabis Business 2 EDMONTON, AB, June 18, 2025 /CNW/ - Aurora Cannabis Inc. (the "Company" or "Aurora") (NASDAQ: ACB) (TSX: ACB), a leading Canada-based global medical cannabis company, today announced its financial and operational results for the fourth quarter and fiscal year 2025 periods ending March 31, 2025. "We are pleased to report an exceptional year to our shareholders, highlighted by record annual global medical net revenue 1, adjusted EBITDA 1, and positive free cash flow 1. These achievements underscore the thoughtful execution of our strategic plan, set us further apart from competitors, and strengthen our foundation for sustained and profitable growth," said Executive Chairman and Chief Executive Officer for Aurora, Miguel Martin. "Specific to Q4 2025, we ended our banner fiscal year by further strengthening our business model. International revenue more than doubled, representing 61% of global medical cannabis net revenue 1. Plant propagation also increased significantly as we benefited from peak seasonality along with organic expansion. These top-line gains were complemented by a sharp year over year increase in adjusted EBITDA 1 profitability and the third quarter of positive free cash flow 1 generation." concluded Mr. Martin. _________________________________ 1 This press release includes certain non-GAAP financial measures, which are intended to supplement, not substitute for, comparable GAAP financial measures. See "Non-GAAP Measures" below for reconciliations of non-GAAP financial measures to GAAP financial measures. 2 Aurora's only remaining debt is non-recourse debt of $61.7 million relating to Bevo Farms Ltd as detailed in the March 31, 2025 Financial Statements. Fourth Quarter 2025 Highlights (Unless otherwise stated, comparisons are made between fiscal Q4 2025, Q3 2025, and Q4 2024 results and are in Canadian dollars) Consolidated Revenue and Adjusted Gross Profit: Total net revenue 1 was $90.5 million, as compared to $67.4 million in the prior year period. The 34% increase from the prior year period was mainly due to 48% growth in our global medical cannabis business and 32% growth in our plant propagation business, slightly offset by lower quarterly revenue in our consumer cannabis business. Consolidated adjusted gross margin before fair value adjustments 1 was 62% in Q4 2025 and 50% in the prior year period. Adjusted gross profit before FV adjustments 1 was $54.2 million in Q4 2025 compared to $33.4 million in the prior year period, an increase of 62%. Medical Cannabis: Medical cannabis net revenue 1 was $67.8 million, a 48% increase from the prior year period, delivering 75% of Aurora's Q4 2025 consolidated net revenue 1 and 88% of adjusted gross profit before fair value adjustments 1. The increase in medical cannabis net revenue 1 of $22.1 million was primarily due to higher sales to Australia, Germany, Poland, and the UK, as well as increased revenue in Canada to insurance covered and self-paying patients. Adjusted gross margin before fair value adjustments 1 on medical cannabis net revenue 1 reached 70% for the three months ended March 31, 2025, compared to 66% in the prior year period. The adjusted gross margins before fair value adjustments 1 improved through sustainable cost reductions, higher selling prices, and improved efficiency in production operations, including sourcing for Europe from Canada. Consumer Cannabis: Aurora's consumer cannabis net revenue 1 was $8.2 million a 20% decrease compared to $10.2 million in the prior year period. The decrease was due to our continued decision to prioritize the supply of our GMP manufactured products to our high margin global medical cannabis business rather than the consumer business, which offers lower margins. Adjusted gross margin before fair value adjustments 1 on consumer cannabis net revenue 1 was 27%, an increase from 16% compared to the prior year period. The increase from the prior year period is primarily due to cost improvements resulting from spend efficiencies. Plant Propagation: Plant propagation net revenue 1 was wholly comprised of the Bevo business, and contributed $13.8 million of net revenue 1, a 32% increase compared to $10.4 million in the prior year period. The increase was a result of organic growth and expanded product offerings, both arising from increased capacity. Adjusted gross margin before fair value adjustments 1 on plant propagation revenue was 37% for Q4 2025 and 25% for the prior year period. The fluctuations in the plant propagation adjusted gross margin before fair value adjustments 1 is due to product mix with higher margin sales. Adjusted Selling, General and Administrative ("Adjusted SG&A"): Adjusted SG&A 1 was $36.7 million in Q4 2025, which excludes $5.8 million of business transformation costs. The increase compared to the prior year period relates to higher freight and logistics costs, notably from sales to Europe with the increase in sourcing from Canada and incremental costs following the acquisition of MedReleaf Australia. Net Income (Loss): Net loss from continuing operations for the three months ended March 31, 2025 was $17.2 million compared to a net loss of $20.3 million for the prior year period. The decrease in net loss of $3.0 million compared to the three months ended March 31, 2024 is comprised of a decrease in gross profit of $18.8 million and an increase in operating expenses of $3.0 million, offset with other income in the current period $10.5 million compared to other expenses of $18.7 million during the three months ended March 31, 2024. Adjusted EBITDA: Adjusted EBITDA 1 increased 619% to $16.7 million for the three months ended March 31, 2025 compared to $2.3 million for the prior year period. Fiscal Q1 2026 Expectations: Expect continued strong global cannabis revenue driven by improved performance in Canadian medical, comparable performance in consumer, offset by temporary declines in some of our international markets. Taken together, global cannabis should be slightly lower compared to Q4 2025 and is expected to improve in later quarters due to increased distribution and further innovation. Seasonally higher revenues for plant propagation as they complete their peak quarter, in line with historical seasonal trends. Margins to hold strong and we expect positive adjusted EBITDA 1 to continue, with a decline versus Q4 FY25 due to lower revenue contributions from the higher margin international markets. Free cash flow 1 is projected to remain positive, due to continued strong performance and improved operating cash use. Historical Quarterly Results: In connection with the audit of the annual consolidated financial statements as at and for the year ended March 31, 2025, the Company identified an error in inventory and cost of sales arising from intercompany profit eliminations, resulting in an overstatement of inventory and understatement of cost of sales. Additionally, the Company understated its lease liability during a period in which a rent concession was granted by the lessor. In respect of the Company's presentation of cash and cash equivalents and restricted cash, the Company determined that certain previously reported restricted cash held within its captives was accessible to the Company and therefore not restricted. The unrestricted portion has been reclassified to cash and cash equivalents. The Company has concluded that these errors are not material to any of the Company's previously-issued audited consolidated financial statements and unaudited condensed consolidated interim financial statements. Accordingly, the Company has concluded that an amendment to its previously-filed audited consolidated financial statements and unaudited condensed consolidated interim financial statements is not required. The revisions will be reflected in the comparative period of the Company's prospective condensed consolidated interim financial statements filings. There is no impact to the annual consolidated financial statements, however the comparative periods have been revised accordingly. The core balances impacted in the consolidated financial position and cash flow are: cash and cash equivalents, restricted cash, inventory and property, plant and equipment. In the consolidated statement of income (loss) the core areas impacted are: cost of sales, gross profit and net income (loss). A summary of the impact to its previously filed audited consolidated financial statements and unaudited condensed consolidated interim financial statements can be found in the historical quarterly results section of the FY25 Q4 MD&A, filed June 18, 2025 (the "MD&A"). Key Quarterly Financial Results ($ thousands, except Operational Results) Three months ended March 31, 2025 December 31, 2024 (4) $ Change % Change March 31, 2024 (3) $ Change % Change Financial Results Net revenue (1a) $90,538 $88,198 $2,340 3 % $67,411 $23,127 34 % Medical cannabis net revenue (1a) $67,776 $68,149 ($373) (1 %) $45,648 $22,128 48 % Consumer cannabis net revenue (1a) $8,166 $9,912 ($1,746) (18 %) $10,233 ($2,067) (20 %) Plant propagation revenue $13,770 $8,897 $4,873 55 % $10,416 $3,354 32 % Adjusted gross margin before FV adjustments on total net revenue (1b) 62 % 61 % N/A 1 % 50 % N/A 12 % Adjusted gross margin before FV adjustments on cannabis net revenue (1b) 65 % 63 % N/A 2 % 54 % N/A 11 % Adjusted gross margin before FV adjustments on medical cannabis net revenue (1b) 70 % 69 % N/A 1 % 66 % N/A 4 % Adjusted gross margin before FV adjustments on consumer cannabis net revenue (1b) 27 % 26 % N/A 1 % 16 % N/A 11 % Adjusted gross margin before FV adjustments on plant propagation net revenue (1b) 37 % 40 % N/A (3 %) 25 % N/A 12 % Adjusted SG&A expense (1d) $36,687 $31,263 $5,424 17 % $31,351 $5,336 17 % Adjusted EBITDA (1c) $16,678 $19,393 ($2,715) (14 %) $2,319 $14,359 619 % Free cash flow (1e) $2,495 $27,364 ($24,869) (91 %) ($21,866) $24,361 111 % Balance Sheet Working capital (1f) $367,465 $338,741 $28,724 8 % $301,985 $65,480 22 % Cannabis inventory and biological assets (2) $193,980 $212,075 ($18,095) (9 %) $148,112 $45,868 31 % Total assets $852,666 $862,297 ($9,631) (1 %) $838,673 $13,993 2 % (1) These terms are defined in the "Cautionary Statement Regarding Certain Non-GAAP Performance Measures" section of this MD&A. Refer to the following sections for reconciliation of Non-GAAP Measures to the IFRS equivalent measure: a. Refer to the "Revenue" and "Cost of Sales and Gross Margin" section for a reconciliation of cannabis net revenue to the IFRS equivalent. b. Refer to the "Adjusted Gross Margin" section for reconciliation to the IFRS equivalent. c. Refer to the "Adjusted EBITDA" section for reconciliation to the IFRS equivalent. d. Refer to the "Operating Expenses" section for reconciliation to the IFRS equivalent. e. Refer to the "Liquidity and Capital Resources" section for a reconciliation to the IFRS equivalent. f. "Working capital" is defined as Current Assets less Current Liabilities as reported on the Company's Consolidated Statements of Financial Position. (2) Represents total biological assets and inventory, exclusive of merchandise, accessories, supplies, consumables and plant propagation biological assets. (3) Certain previously reported amounts have been adjusted to exclude the results of discontinued operations. (4) In connection with the audit of the annual consolidated financial statements as at and for the year ended March 31, 2025, the Company noted that inventory and lease obligation were misstated, impacting the condensed consolidat interim statements filed during the 2025 fiscal balances in the condensed consolidated interim financial statements as at and for the three months ended June 30, 2024, September 30, 2024 and December 31, 2024 were adjusted as a result and the amounts shown above reflect such adjustments. Refer to discussion under "Historical Quarterly Results" section of this MD&A for further detail. Conference Call Aurora will host a conference call today, Wednesday, June 18, 2025, to discuss these results. Miguel Martin, Chief Executive Officer, and Simona King, Chief Financial Officer, will host the call starting at 8:00 a.m. Eastern time | 6:00 a.m. Mountain Time. A question and answer session will follow management's presentation. About Aurora Cannabis Aurora is opening the world to cannabis, serving both the medical and consumer markets across Canada, Europe, Australia and New Zealand. Headquartered in Edmonton, Alberta, Aurora is a pioneer in global cannabis, dedicated to helping people improve their lives. The Company's adult-use brand portfolio includes Drift, San Rafael '71, Daily Special, Tasty's, Being and Greybeard. Medical cannabis brands include MedReleaf, CanniMed, Aurora and Whistler Medical Marijuana Co., as well as international brands, Pedanios, Bidiol, IndiMed and CraftPlant. Aurora also has a controlling interest in Bevo Farms Ltd., North America's leading supplier of propagated agricultural plants. Driven by science and innovation, and with a focus on high-quality cannabis products, Aurora's brands continue to break through as industry leaders in the medical, wellness and adult recreational markets wherever they are launched. Learn more at and follow us on X and LinkedIn. Aurora's common shares trade on the NASDAQ and TSX under the symbol "ACB". Forward Looking Statements This news release includes statements containing certain "forward-looking information" within the meaning of applicable securities law (" forward-looking statements"). Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements made in this news release include, but are not limited to, statements regarding ethe Company's Q4 and full year FY2025 results, statements under the heading "Fiscal Q1 2026 Expectation", including, but not limited to those related to revenue growth and adjusted gross margins, revenue in the plant propagation segment, and expectations for positive adjusted EBITDA and positive free cash flow, statements regarding the Company's continued commitment to strategic growth, operational excellence, and long-term sustained profitability, as well as statements regarding the Company's conference call to discuss results. These forward-looking statements are only predictions. Forward looking information or statements contained in this news release have been developed based on assumptions management considers to be reasonable. Material factors or assumptions involved in developing forward-looking statements include, without limitation, publicly available information from governmental sources as well as from market research and industry analysis and on assumptions based on data and knowledge of this industry which the Company believes to be reasonable. Forward-looking statements are subject to a variety of risks, uncertainties and other factors that management believes to be relevant and reasonable in the circumstances could cause actual events, results, level of activity, performance, prospects, opportunities or achievements to differ materially from those projected in the forward-looking statements. These risks include, but are not limited to, the magnitude and duration of potential new or increased tariffs imposed on goods imported from Canada into the United States, the ability to retain key personnel, the ability to continue investing in infrastructure to support growth, the ability to obtain financing on acceptable terms, the continued quality of our products, customer experience and retention, the development of third party government and non-government consumer sales channels, management's estimates of consumer demand in Canada and in jurisdictions where the Company exports, expectations of future results and expenses, the risk of successful integration of acquired business and operations (with respect to the Transaction and more generally with respect to future acquisitions), management's estimation that SG&A will grow only in proportion of revenue growth, the ability to expand and maintain distribution capabilities, the impact of competition, the general impact of financial market conditions, the yield from cannabis growing operations, product demand, changes in prices of required commodities, competition, and the possibility for changes in laws, rules, and regulations in the industry, epidemics, pandemics or other public health crises and other risks, uncertainties and factors set out under the heading "Risk Factors" in the Company's annual information from dated June 17, 2025 (the "AIF") and filed with Canadian securities regulators available on the Company's issuer profile on SEDAR+ at and filed with and available on the U.S Securities and Exchange Commision's EDGAR ("SEC")\ website at The Company cautions that the list of risks, uncertainties and other factors described in the AIF is not exhaustive and other factors could also adversely affect its results. Readers are urged to consider the risks, uncertainties and assumptions carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such information. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law. The Company's annual consolidated financial statements, the MD&A and AIF are available as part of the Company's Annual Report on Form 40-F filed with the SEC and available under the Company's profile on the SEC's website. These documents are also available on the Company's website, and shareholders may receive hard copies of such documents free of charge upon request. Non-GAAP Measures This news release contains reference to certain financial performance measures that are not recognized or defined under IFRS (termed "Non-GAAP Measures"). As a result, this data may not be comparable to data presented by other licensed producers of cannabis and cannabis companies. Non-GAAP Measures should be considered together with other data prepared in accordance with IFRS to enable investors to evaluate the Company's operating results, underlying performance and prospects in a manner similar to Aurora's management. Accordingly, these non-GAAP Measures are intended to provide additional information and to assist management and investors in assessing financial performance and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. The information included under the heading "Cautionary Statement Regarding Certain Non-GAAP Performance Measures" in the MD&A is incorporated by reference into this news release. The MD&A is available on the Company's issuer profiles on SEDAR+ at and on the SEC's EDGAR website at Net Revenue, Adjusted Gross Profit and Margin Net revenue, adjusted gross profit before FV adjustments, and adjusted gross margin before FV adjustments are Non-GAAP Measures and can be reconciled with revenue, gross profit and gross margin, the most directly comparable GAAP financial measures, respectively, as follows: (1) Net revenue is a Non-GAAP Measure and is defined in the "Cautionary Statement Regarding Certain Non-GAAP Performance Measures" section of this MD&A. Refer to the "Cost of Sales and Gross Margin" section of this MD&A for a reconciliation to IFRS equivalent. (2) Certain previously reported amounts have been adjusted to exclude the results related to discontinued operations. Adjusted EBITDA The following is the Company's adjusted EBITDA: (1) Business transformation related charges include costs related to closed facilities, certain IT project costs, costs associated with the repurposing of Sky and Sun, severance and retention costs in connection with the business transformation plan, and costs associated with the retention of certain medical aggregators. Some prior period amounts have been adjusted for changes in presentation. (2) Out-of-period adjustments reflect adjustments to net loss for the financial impact of transactions recorded in the current period that relate to prior periods. Some prior period amounts have been adjusted for changes in presentation. (3) Non-recurring items includes one-time excise tax refunds, non-core adjusted wholesale bulk margins, inventory count adjustments resulting from facility shutdowns and inter-site transfers, litigation and non-recurring project costs. (4) Adjusted EBITDA is a Non-GAAP Measure and is not a recognized, defined, or standardized measure under IFRS. Refer to "Cautionary Statement Regarding Certain Non-GAAP Performance Measures" section of the MD&A. Prior period comparatives were adjusted to include the adjustments for markets under development, business transformation costs and non-recurring charges related to non-core bulk cannabis wholesale to be comparable to the current period presentation. (5) Certain previously reported amounts have been adjusted to exclude the results of discontinued operations. (6) In connection with the audit of the annual consolidated financial statements as at and for the year ended March 31, 2025, the Company noted that inventory and lease obligation were misstated, impacting the condensed consolidated interim statements filed during the 2025 fiscal year. Certain balances in the condensed consolidated interim financial statements as at and for the three months ended June 30, 2024, September 30, 2024 and December 31, 2024 were adjusted as a result and the amounts shown above reflect such adjustments. Refer to discussion under "Historical Quarterly Results" section of this MD&A for further detail. Adjusted SG&A Adjusted SG&A is a Non-GAAP Measure and can be reconciled with sales and marketing and general and administrative expenses, the most directly comparable GAAP financial measure, as follows: (1) Adjusted SG&A is a Non-GAAP Measure and is not a recognized, defined, or standardized measure under IFRS. Refer to the "Cautionary Statement Regarding Certain Non-GAAP Performance Measures" section of this MD&A. (2) Certain previously reported amounts have been adjusted to exclude the results of discontinued operations. (3) In connection with the audit of the annual consolidated financial statements as at and for the year ended March 31, 2025, the Company noted that inventory and lease obligation were misstated, impacting the condensed consolidated interim statements filed during the 2025 fiscal year. Certain balances in the condensed consolidated interim financial statements as at and for the three months ended June 30, 2024, September 30, 2024 and December 31, 2024 were adjusted as a result and the amounts shown above reflect such adjustments. Refer to discussion under "Historical Quarterly Results" section of this MD&A for further detail. Free Cash Flow The table below outlines free cash flow for the periods ended: (1) Maintenance capital expenditures are comprised of costs to sustain facilities, machinery and equipment in working order to support operations and excludes discretionary investments for revenue growth. (2) Free cash flow is a Non-GAAP Measure and is not a recognized, defined, or a standardized measure under IFRS. Refer to the "Cautionary Statement Regarding Certain Non-GAAP Performance Measures" section of this MD&A. (3) Certain previously reported amounts have been adjusted for a reclassification of restricted cash to cash and cash equivalents as at March 31, 2024, June, 30, 2024, September 30, 2024 and December 31, 2024. Refer to discussion under "Historical Quarterly Results" section of the MD&A for further detail. Working Capital Working capital is a Non-GAAP Measure and can be reconciled with total current assets and total current liabilities, the most directly comparable GAAP financial measure, as follows: Three months ended ($ thousands) March 31, 2025 December 31, 2024 March 31, 2024 Total current assets 478,328 488,548 426,605 Total current liabilities (110,863) (149,807) (124,620) Working capital (1) 367,465 338,741 301,985 (1) Working capital for the three months ended December 31, 2024 has been adjusted. Refer to discussion under "Liquidity and Capital Resources" section of the MD&A. SOURCE Aurora Cannabis Inc.
Yahoo
3 days ago
- Business
- Yahoo
Aurora Cannabis Files Full Year Results and Announces Fiscal 2025 Fourth Quarter
NASDAQ | TSX: ACB Achieves Record Annual Global Medical Cannabis Net Revenue1 of $244.4 million, representing 39% YoY growth Delivers Record Adjusted EBITDA1 of $49.7 million, representing 261% YoY growth Generates Annual Positive Free Cash Flow1 of $9.9 million Sustains Strong Balance Sheet with ~$185.3 million of Cash and Debt-Free Cannabis Business2 EDMONTON, AB, June 18, 2025 /CNW/ - Aurora Cannabis Inc. (the "Company" or "Aurora") (NASDAQ: ACB) (TSX: ACB), a leading Canada-based global medical cannabis company, today announced its financial and operational results for the fourth quarter and fiscal year 2025 periods ending March 31, 2025. "We are pleased to report an exceptional year to our shareholders, highlighted by record annual global medical net revenue1, adjusted EBITDA1, and positive free cash flow1. These achievements underscore the thoughtful execution of our strategic plan, set us further apart from competitors, and strengthen our foundation for sustained and profitable growth," said Executive Chairman and Chief Executive Officer for Aurora, Miguel Martin. "Specific to Q4 2025, we ended our banner fiscal year by further strengthening our business model. International revenue more than doubled, representing 61% of global medical cannabis net revenue1. Plant propagation also increased significantly as we benefited from peak seasonality along with organic expansion. These top-line gains were complemented by a sharp year over year increase in adjusted EBITDA1 profitability and the third quarter of positive free cash flow1 generation." concluded Mr. Martin. _________________________________1 This press release includes certain non-GAAP financial measures, which are intended to supplement, not substitute for, comparable GAAP financial measures. See "Non-GAAP Measures" below for reconciliations of non-GAAP financial measures to GAAP financial measures. 2 Aurora's only remaining debt is non-recourse debt of $61.7 million relating to Bevo Farms Ltd as detailed in the March 31, 2025 Financial Statements. Fourth Quarter 2025 Highlights (Unless otherwise stated, comparisons are made between fiscal Q4 2025, Q3 2025, and Q4 2024 results and are in Canadian dollars) Consolidated Revenue and Adjusted Gross Profit:Total net revenue1 was $90.5 million, as compared to $67.4 million in the prior year period. The 34% increase from the prior year period was mainly due to 48% growth in our global medical cannabis business and 32% growth in our plant propagation business, slightly offset by lower quarterly revenue in our consumer cannabis business. Consolidated adjusted gross margin before fair value adjustments1 was 62% in Q4 2025 and 50% in the prior year period. Adjusted gross profit before FV adjustments1 was $54.2 million in Q4 2025 compared to $33.4 million in the prior year period, an increase of 62%. Medical Cannabis:Medical cannabis net revenue1 was $67.8 million, a 48% increase from the prior year period, delivering 75% of Aurora's Q4 2025 consolidated net revenue1 and 88% of adjusted gross profit before fair value adjustments1. The increase in medical cannabis net revenue1 of $22.1 million was primarily due to higher sales to Australia, Germany, Poland, and the UK, as well as increased revenue in Canada to insurance covered and self-paying patients. Adjusted gross margin before fair value adjustments1 on medical cannabis net revenue1 reached 70% for the three months ended March 31, 2025, compared to 66% in the prior year period. The adjusted gross margins before fair value adjustments1 improved through sustainable cost reductions, higher selling prices, and improved efficiency in production operations, including sourcing for Europe from Canada. Consumer Cannabis:Aurora's consumer cannabis net revenue1 was $8.2 million a 20% decrease compared to $10.2 million in the prior year period. The decrease was due to our continued decision to prioritize the supply of our GMP manufactured products to our high margin global medical cannabis business rather than the consumer business, which offers lower margins. Adjusted gross margin before fair value adjustments1 on consumer cannabis net revenue1 was 27%, an increase from 16% compared to the prior year period. The increase from the prior year period is primarily due to cost improvements resulting from spend efficiencies. Plant Propagation:Plant propagation net revenue1 was wholly comprised of the Bevo business, and contributed $13.8 million of net revenue1, a 32% increase compared to $10.4 million in the prior year period. The increase was a result of organic growth and expanded product offerings, both arising from increased capacity. Adjusted gross margin before fair value adjustments1 on plant propagation revenue was 37% for Q4 2025 and 25% for the prior year period. The fluctuations in the plant propagation adjusted gross margin before fair value adjustments1 is due to product mix with higher margin sales. Adjusted Selling, General and Administrative ("Adjusted SG&A"):Adjusted SG&A1 was $36.7 million in Q4 2025, which excludes $5.8 million of business transformation costs. The increase compared to the prior year period relates to higher freight and logistics costs, notably from sales to Europe with the increase in sourcing from Canada and incremental costs following the acquisition of MedReleaf Australia. Net Income (Loss):Net loss from continuing operations for the three months ended March 31, 2025 was $17.2 million compared to a net loss of $20.3 million for the prior year period. The decrease in net loss of $3.0 million compared to the three months ended March 31, 2024 is comprised of a decrease in gross profit of $18.8 million and an increase in operating expenses of $3.0 million, offset with other income in the current period $10.5 million compared to other expenses of $18.7 million during the three months ended March 31, 2024. Adjusted EBITDA:Adjusted EBITDA1 increased 619% to $16.7 million for the three months ended March 31, 2025 compared to $2.3 million for the prior year period. Fiscal Q1 2026 Expectations: Expect continued strong global cannabis revenue driven by improved performance in Canadian medical, comparable performance in consumer, offset by temporary declines in some of our international markets. Taken together, global cannabis should be slightly lower compared to Q4 2025 and is expected to improve in later quarters due to increased distribution and further innovation. Seasonally higher revenues for plant propagation as they complete their peak quarter, in line with historical seasonal trends. Margins to hold strong and we expect positive adjusted EBITDA1 to continue, with a decline versus Q4 FY25 due to lower revenue contributions from the higher margin international markets. Free cash flow1 is projected to remain positive, due to continued strong performance and improved operating cash use. Historical Quarterly Results:In connection with the audit of the annual consolidated financial statements as at and for the year ended March 31, 2025, the Company identified an error in inventory and cost of sales arising from intercompany profit eliminations, resulting in an overstatement of inventory and understatement of cost of sales. Additionally, the Company understated its lease liability during a period in which a rent concession was granted by the lessor. In respect of the Company's presentation of cash and cash equivalents and restricted cash, the Company determined that certain previously reported restricted cash held within its captives was accessible to the Company and therefore not restricted. The unrestricted portion has been reclassified to cash and cash equivalents. The Company has concluded that these errors are not material to any of the Company's previously-issued audited consolidated financial statements and unaudited condensed consolidated interim financial statements. Accordingly, the Company has concluded that an amendment to its previously-filed audited consolidated financial statements and unaudited condensed consolidated interim financial statements is not required. The revisions will be reflected in the comparative period of the Company's prospective condensed consolidated interim financial statements filings. There is no impact to the annual consolidated financial statements, however the comparative periods have been revised accordingly. The core balances impacted in the consolidated financial position and cash flow are: cash and cash equivalents, restricted cash, inventory and property, plant and equipment. In the consolidated statement of income (loss) the core areas impacted are: cost of sales, gross profit and net income (loss). A summary of the impact to its previously filed audited consolidated financial statements and unaudited condensed consolidated interim financial statements can be found in the historical quarterly results section of the FY25 Q4 MD&A, filed June 18, 2025 (the "MD&A"). Key Quarterly Financial Results ($ thousands, except Operational Results) Three months ended March 31, 2025 December 31, 2024(4) $ Change % Change March 31, 2024(3) $ Change % Change Financial ResultsNet revenue (1a) $90,538 $88,198 $2,340 3 % $67,411 $23,127 34 % Medical cannabis net revenue (1a) $67,776 $68,149 ($373) (1 %) $45,648 $22,128 48 % Consumer cannabis net revenue (1a) $8,166 $9,912 ($1,746) (18 %) $10,233 ($2,067) (20 %) Plant propagation revenue $13,770 $8,897 $4,873 55 % $10,416 $3,354 32 % Adjusted gross margin before FV adjustments on total net revenue (1b) 62 % 61 % N/A 1 % 50 % N/A 12 % Adjusted gross margin before FV adjustments on cannabis net revenue (1b) 65 % 63 % N/A 2 % 54 % N/A 11 % Adjusted gross margin before FV adjustments on medical cannabis net revenue (1b) 70 % 69 % N/A 1 % 66 % N/A 4 % Adjusted gross margin before FV adjustments on consumer cannabis net revenue (1b) 27 % 26 % N/A 1 % 16 % N/A 11 % Adjusted gross margin before FV adjustments on plant propagation net revenue (1b) 37 % 40 % N/A (3 %) 25 % N/A 12 % Adjusted SG&A expense(1d) $36,687 $31,263 $5,424 17 % $31,351 $5,336 17 % Adjusted EBITDA (1c) $16,678 $19,393 ($2,715) (14 %) $2,319 $14,359 619 % Free cash flow (1e) $2,495 $27,364 ($24,869) (91 %) ($21,866) $24,361 111 % Balance SheetWorking capital (1f) $367,465 $338,741 $28,724 8 % $301,985 $65,480 22 % Cannabis inventory and biological assets (2) $193,980 $212,075 ($18,095) (9 %) $148,112 $45,868 31 % Total assets $852,666 $862,297 ($9,631) (1 %) $838,673 $13,993 2 % (1) These terms are defined in the "Cautionary Statement Regarding Certain Non-GAAP Performance Measures" section of this MD&A. Refer to the following sections for reconciliation of Non-GAAP Measures to the IFRS equivalent measure: a. Refer to the "Revenue" and "Cost of Sales and Gross Margin" section for a reconciliation of cannabis net revenue to the IFRS equivalent. b. Refer to the "Adjusted Gross Margin" section for reconciliation to the IFRS equivalent. c. Refer to the "Adjusted EBITDA" section for reconciliation to the IFRS equivalent. d. Refer to the "Operating Expenses" section for reconciliation to the IFRS equivalent. e. Refer to the "Liquidity and Capital Resources" section for a reconciliation to the IFRS equivalent. f. "Working capital" is defined as Current Assets less Current Liabilities as reported on the Company's Consolidated Statements of Financial Position. (2) Represents total biological assets and inventory, exclusive of merchandise, accessories, supplies, consumables and plant propagation biological assets. (3) Certain previously reported amounts have been adjusted to exclude the results of discontinued operations. (4) In connection with the audit of the annual consolidated financial statements as at and for the year ended March 31, 2025, the Company noted that inventory and lease obligation were misstated, impacting the condensed consolidat interim statements filed during the 2025 fiscal balances in the condensed consolidated interim financial statements as at and for the three months ended June 30, 2024, September 30, 2024 and December 31, 2024 were adjusted as a result and the amounts shown above reflect such adjustments. Refer to discussion under "Historical Quarterly Results" section of this MD&A for further detail. Conference Call Aurora will host a conference call today, Wednesday, June 18, 2025, to discuss these results. Miguel Martin, Chief Executive Officer, and Simona King, Chief Financial Officer, will host the call starting at 8:00 a.m. Eastern time | 6:00 a.m. Mountain Time. A question and answer session will follow management's presentation. DATE: Wednesday, June 18, 2025 TIME: 8:00 a.m. Eastern Time | 6:00 a.m. Mountain Time WEBCAST: Click Here About Aurora Cannabis Aurora is opening the world to cannabis, serving both the medical and consumer markets across Canada, Europe, Australia and New Zealand. Headquartered in Edmonton, Alberta, Aurora is a pioneer in global cannabis, dedicated to helping people improve their lives. The Company's adult-use brand portfolio includes Drift, San Rafael '71, Daily Special, Tasty's, Being and Greybeard. Medical cannabis brands include MedReleaf, CanniMed, Aurora and Whistler Medical Marijuana Co., as well as international brands, Pedanios, Bidiol, IndiMed and CraftPlant. Aurora also has a controlling interest in Bevo Farms Ltd., North America's leading supplier of propagated agricultural plants. Driven by science and innovation, and with a focus on high-quality cannabis products, Aurora's brands continue to break through as industry leaders in the medical, wellness and adult recreational markets wherever they are launched. Learn more at and follow us on X and LinkedIn. Aurora's common shares trade on the NASDAQ and TSX under the symbol "ACB". Forward Looking Statements This news release includes statements containing certain "forward-looking information" within the meaning of applicable securities law ("forward-looking statements"). Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements made in this news release include, but are not limited to, statements regarding ethe Company's Q4 and full year FY2025 results, statements under the heading "Fiscal Q1 2026 Expectation", including, but not limited to those related to revenue growth and adjusted gross margins, revenue in the plant propagation segment, and expectations for positive adjusted EBITDA and positive free cash flow, statements regarding the Company's continued commitment to strategic growth, operational excellence, and long-term sustained profitability, as well as statements regarding the Company's conference call to discuss results. These forward-looking statements are only predictions. Forward looking information or statements contained in this news release have been developed based on assumptions management considers to be reasonable. Material factors or assumptions involved in developing forward-looking statements include, without limitation, publicly available information from governmental sources as well as from market research and industry analysis and on assumptions based on data and knowledge of this industry which the Company believes to be reasonable. Forward-looking statements are subject to a variety of risks, uncertainties and other factors that management believes to be relevant and reasonable in the circumstances could cause actual events, results, level of activity, performance, prospects, opportunities or achievements to differ materially from those projected in the forward-looking statements. These risks include, but are not limited to, the magnitude and duration of potential new or increased tariffs imposed on goods imported from Canada into the United States, the ability to retain key personnel, the ability to continue investing in infrastructure to support growth, the ability to obtain financing on acceptable terms, the continued quality of our products, customer experience and retention, the development of third party government and non-government consumer sales channels, management's estimates of consumer demand in Canada and in jurisdictions where the Company exports, expectations of future results and expenses, the risk of successful integration of acquired business and operations (with respect to the Transaction and more generally with respect to future acquisitions), management's estimation that SG&A will grow only in proportion of revenue growth, the ability to expand and maintain distribution capabilities, the impact of competition, the general impact of financial market conditions, the yield from cannabis growing operations, product demand, changes in prices of required commodities, competition, and the possibility for changes in laws, rules, and regulations in the industry, epidemics, pandemics or other public health crises and other risks, uncertainties and factors set out under the heading "Risk Factors" in the Company's annual information from dated June 17, 2025 (the "AIF") and filed with Canadian securities regulators available on the Company's issuer profile on SEDAR+ at and filed with and available on the U.S Securities and Exchange Commision's EDGAR ("SEC")\ website at The Company cautions that the list of risks, uncertainties and other factors described in the AIF is not exhaustive and other factors could also adversely affect its results. Readers are urged to consider the risks, uncertainties and assumptions carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such information. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law. The Company's annual consolidated financial statements, the MD&A and AIF are available as part of the Company's Annual Report on Form 40-F filed with the SEC and available under the Company's profile on the SEC's website. These documents are also available on the Company's website, and shareholders may receive hard copies of such documents free of charge upon request. Non-GAAP Measures This news release contains reference to certain financial performance measures that are not recognized or defined under IFRS (termed "Non-GAAP Measures"). As a result, this data may not be comparable to data presented by other licensed producers of cannabis and cannabis companies. Non-GAAP Measures should be considered together with other data prepared in accordance with IFRS to enable investors to evaluate the Company's operating results, underlying performance and prospects in a manner similar to Aurora's management. Accordingly, these non-GAAP Measures are intended to provide additional information and to assist management and investors in assessing financial performance and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. The information included under the heading "Cautionary Statement Regarding Certain Non-GAAP Performance Measures" in the MD&A is incorporated by reference into this news release. The MD&A is available on the Company's issuer profiles on SEDAR+ at and on the SEC's EDGAR website at Net Revenue, Adjusted Gross Profit and Margin Net revenue, adjusted gross profit before FV adjustments, and adjusted gross margin before FV adjustments are Non-GAAP Measures and can be reconciled with revenue, gross profit and gross margin, the most directly comparable GAAP financial measures, respectively, as follows: ($ thousands) Three months ended Years ended March 31, 2025 December 31, 2024(2) March 31, 2024(2) March 31, 2025 March 31, 2024(3) Medical cannabis net revenue(1)Canadian medical cannabis net revenue 26,751 27,295 26,449 107,432 103,068 International medical cannabis net revenue 41,025 40,854 19,199 137,010 72,449 Total medical cannabis net revenue 67,776 68,149 45,648 244,442 175,517 Consumer cannabis net revenue(1)Consumer cannabis net revenue(1) 8,166 9,912 10,233 40,033 46,958 Wholesale bulk cannabis net revenue(1) 826 1,240 1,114 4,436 2,403 Total cannabis net revenue(1) 76,768 79,301 56,995 288,911 224,878— Plant propagation revenue 13,770 8,897 10,416 54,382 44,759 Total net revenue(1) 90,538 88,198 67,411 343,293 269,637 (1) Net revenue is a Non-GAAP Measure and is defined in the "Cautionary Statement Regarding Certain Non-GAAP Performance Measures" section of this MD&A. Refer to the "Cost of Sales and Gross Margin" section of this MD&A for a reconciliation to IFRS equivalent. (2) Certain previously reported amounts have been adjusted to exclude the results related to discontinued operations. Adjusted EBITDA The following is the Company's adjusted EBITDA: ($ thousands) Three months ended Twelve months ended March 31, 2025 December 31, 2024(6) March 31, 2024(5) March 31, 2025 March 31, 2024(5) Net income (loss) from continuing operations (17,232) 28,110 (20,267) 15,763 (57,083) Income tax expense (recovery) 3,693 (377) (711) 4,619 (554) Other income (expense) (10,490) 4,821 18,719 (15,434) 12,536 Share-based compensation 3,786 1,657 3,029 12,930 12,717 Depreciation and amortization 6,322 6,030 6,296 25,470 32,066 Acquisition costs 624 819 2,970 3,435 5,326 Inventory and biological assets fair value and impairment adjustments 22,225 (28,311) (16,940) (17,905) (25,540) Business transformation related charges (1) 5,983 4,780 7,539 18,996 25,189 Out-of-period adjustments (2) — — (185) — 1,236 Non-recurring items (3) 1,767 1,864 1,869 1,835 7,859 Adjusted EBITDA (4) 16,678 19,393 2,319 49,709 13,752 (1) Business transformation related charges include costs related to closed facilities, certain IT project costs, costs associated with the repurposing of Sky and Sun, severance and retention costs in connection with the business transformation plan, and costs associated with the retention of certain medical aggregators. Some prior period amounts have been adjusted for changes in presentation. (2) Out-of-period adjustments reflect adjustments to net loss for the financial impact of transactions recorded in the current period that relate to prior periods. Some prior period amounts have been adjusted for changes in presentation. (3) Non-recurring items includes one-time excise tax refunds, non-core adjusted wholesale bulk margins, inventory count adjustments resulting from facility shutdowns and inter-site transfers, litigation and non-recurring project costs. (4) Adjusted EBITDA is a Non-GAAP Measure and is not a recognized, defined, or standardized measure under IFRS. Refer to "Cautionary Statement Regarding Certain Non-GAAP Performance Measures" section of the MD&A. Prior period comparatives were adjusted to include the adjustments for markets under development, business transformation costs and non-recurring charges related to non-core bulk cannabis wholesale to be comparable to the current period presentation. (5) Certain previously reported amounts have been adjusted to exclude the results of discontinued operations. (6) In connection with the audit of the annual consolidated financial statements as at and for the year ended March 31, 2025, the Company noted that inventory and lease obligation were misstated, impacting the condensed consolidated interim statements filed during the 2025 fiscal year. Certain balances in the condensed consolidated interim financial statements as at and for the three months ended June 30, 2024, September 30, 2024 and December 31, 2024 were adjusted as a result and the amounts shown above reflect such adjustments. Refer to discussion under "Historical Quarterly Results" section of this MD&A for further detail. Adjusted SG&A Adjusted SG&A is a Non-GAAP Measure and can be reconciled with sales and marketing and general and administrative expenses, the most directly comparable GAAP financial measure, as follows:Three months ended Twelve months ended ($ thousands) March 31, 2025 December 31, 2024(3) March 31, 2024(2) March 31, 2025 March 31, 2024(2) General and administration 28,552 23,687 25,418 97,257 91,325 Sales and marketing 15,459 13,077 14,530 56,281 51,910 Business transformation costs (5,837) (5,128) (6,862) (20,326) (22,590) Out-of-period adjustments — — (642) — (1,236) Non-recurring costs (1,487) (373) (1,093) (2,144) (3,768) Adjusted SG&A (1) 36,687 31,263 31,351 131,068 115,641 (1) Adjusted SG&A is a Non-GAAP Measure and is not a recognized, defined, or standardized measure under IFRS. Refer to the "Cautionary Statement Regarding Certain Non-GAAP Performance Measures" section of this MD&A. (2) Certain previously reported amounts have been adjusted to exclude the results of discontinued operations. (3) In connection with the audit of the annual consolidated financial statements as at and for the year ended March 31, 2025, the Company noted that inventory and lease obligation were misstated, impacting the condensed consolidated interim statements filed during the 2025 fiscal year. Certain balances in the condensed consolidated interim financial statements as at and for the three months ended June 30, 2024, September 30, 2024 and December 31, 2024 were adjusted as a result and the amounts shown above reflect such adjustments. Refer to discussion under "Historical Quarterly Results" section of this MD&A for further detail. Free Cash Flow The table below outlines free cash flow for the periods ended:Three months ended Years ended ($ thousands) March 31, 2025 December 31, 2024(3) March 31, 2025 March 31, 2025 March 31, 2024(3) Cash provided by (used in) operating activities from continuing operations before changes in non-cash working capital (2,928) 9,513 (10,074) 7,996 (47,625) Changes in non-cash working capital 6,947 20,107 (10,335) 10,210 (15,541) Net cash provided by (used in) operating activities from continuing operations 4,019 29,620 (20,409) 18,206 (63,166) Less: maintenance capital expenditures(1) (1,524) (2,256) (1,457) (8,290) (6,582) Free cash flow(2) 2,495 27,364 (21,866) 9,916 (69,748) (1) Maintenance capital expenditures are comprised of costs to sustain facilities, machinery and equipment in working order to support operations and excludes discretionary investments for revenue growth. (2) Free cash flow is a Non-GAAP Measure and is not a recognized, defined, or a standardized measure under IFRS. Refer to the "Cautionary Statement Regarding Certain Non-GAAP Performance Measures" section of this MD&A. (3) Certain previously reported amounts have been adjusted for a reclassification of restricted cash to cash and cash equivalents as at March 31, 2024, June, 30, 2024, September 30, 2024 and December 31, 2024. Refer to discussion under "Historical Quarterly Results" section of the MD&A for further detail. Working Capital Working capital is a Non-GAAP Measure and can be reconciled with total current assets and total current liabilities, the most directly comparable GAAP financial measure, as follows:Three months ended ($ thousands) March 31, 2025 December 31, 2024 March 31, 2024 Total current assets 478,328 488,548 426,605 Total current liabilities (110,863) (149,807) (124,620) Working capital(1) 367,465 338,741 301,985 (1) Working capital for the three months ended December 31, 2024 has been adjusted. Refer to discussion under "Liquidity and Capital Resources" section of the MD&A. View original content to download multimedia: SOURCE Aurora Cannabis Inc. View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
3 days ago
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Korn Ferry Announces Fourth Quarter and Full Year FY'25 Results of Operations
LOS ANGELES--(BUSINESS WIRE)--Korn Ferry (NYSE: KFY), a global consulting firm, today announced fourth quarter and annual fee revenue of $712.0 million and $2,730.1 million, respectively. In addition, fourth quarter diluted earnings per share was $1.21 and adjusted diluted earnings per share was $1.32, while full year diluted earnings per share was $4.60 and adjusted diluted earnings per share was $4.88. 'Even amid the ever-changing global economic and political dynamics, we continue to deliver on our financial and strategic objectives, just as we have over the past several years. Our results reinforce the premise of Korn Ferry's diversification strategy and our continued momentum,' said Gary D. Burnison, CEO, Korn Ferry. 'Through ongoing investments to extend our offerings and solutions and expand our impact, we are powering performance for clients. This foundational focus for the future underpins our conviction to a strategy that will continue to propel us forward.' Selected Financial Results Fourth Quarter Year to Date FY'25 FY'24 FY'25 FY'24 Fee revenue $ 712.0 $ 690.8 $ 2,730.1 $ 2,762.7 Total revenue $ 719.8 $ 699.9 $ 2,761.1 $ 2,795.5 Net income attributable to Korn Ferry $ 64.2 $ 65.2 $ 246.1 $ 169.2 Net income attributable to Korn Ferry margin 9.0 % 9.4 % 9.0 % 6.1 % Basic earnings per share $ 1.23 $ 1.26 $ 4.69 $ 3.25 Diluted earnings per share $ 1.21 $ 1.24 $ 4.60 $ 3.23 Adjusted Results (b): Fourth Quarter Year to Date FY'25 FY'24 FY'25 FY'24 Adjusted EBITDA $ 121.1 $ 112.3 $ 463.9 $ 408.2 Adjusted EBITDA margin 17.0 % 16.3 % 17.0 % 14.8 % Adjusted net income attributable to Korn Ferry (c) $ 70.1 $ 65.7 $ 261.2 $ 224.0 Adjusted basic earnings per share (c) $ 1.34 $ 1.27 $ 4.98 $ 4.31 Adjusted diluted earnings per share (c) $ 1.32 $ 1.26 $ 4.88 $ 4.28 Expand ______________________ (a) Numbers may not total due to rounding. (b) Adjusted EBITDA refers to earnings before interest, taxes, depreciation and amortization, further adjusted to exclude integration/acquisition costs, impairment of fixed assets, impairment of right-of-use assets, restructuring charges, net and management separation charges when applicable. Adjusted results on a consolidated basis are non-GAAP financial measures that adjust for the following, as applicable (see attached reconciliations): Expand Fourth Quarter Year to Date FY'25 FY'24 FY'25 FY'24 Management separation charges (d) $ 4.6 $ — $ 4.6 $ — Integration/acquisition costs $ 1.7 $ 1.8 $ 8.8 $ 14.9 Restructuring charges, net $ — $ — $ 1.9 $ 68.6 Impairment of fixed assets $ — $ — $ 0.5 $ 1.6 Impairment of right-of-use assets $ — $ — $ 2.5 $ 1.6 Expand (c) Due to actions taken in connection with the worldwide minimum tax, the Company released a valuation allowance in FY'24 and recorded a $9.7 million non-recurring tax benefit, which is included in the Company's US GAAP results but excluded from the Adjusted results. (d) Contractual obligations due upon executive's death. Expand Fiscal 2025 Fourth Quarter Results The Company reported fee revenue in Q4 FY'25 of $712.0 million, an increase of 3% year-over-year (up 4.0% at constant currency). During the quarter, the increase in fee revenue was due to higher fee revenue in Executive Search and Recruitment process outsourcing ("RPO"), partially offset by a decline in fee revenue in Consulting. Net income attributable to Korn Ferry was $64.2 million with a margin of 9.0% in Q4 FY'25, compared to net income attributable to Korn Ferry of $65.2 million with a margin of 9.4%, in Q4 FY'24, a decrease of 40bps compared to the year-ago quarter. Adjusted EBITDA was $121.1 million in Q4 FY'25 compared to $112.3 million in Q4 FY'24. Adjusted EBITDA margin was 17.0% in Q4 FY'25, an increase of 70bps compared to the year-ago quarter. Net income attributable to Korn Ferry and net income attributable to Korn Ferry margin decreased slightly from the prior year, primarily due to certain income tax benefits recorded in Q4 FY'24 which reduced the prior year quarterly effective tax rate by approximately 4 percentage points. Adjusted EBITDA and Adjusted EBITDA margin increased due to an increase in fee revenue and disciplined cost management. Fiscal 2025 Full Year Results The Company reported fee revenue in FY'25 of $2,730.1 million, a decrease of 1% in both actual and constant currency compared to FY'24. Net income attributable to Korn Ferry was $246.1 million with a margin of 9.0% in FY'25, compared to net income attributable to Korn Ferry of $169.2 million with a margin of 6.1%, in FY'24, an increase of 290bps. Adjusted EBITDA was $463.9 million in FY'25 compared to $408.2 million in FY'24. Adjusted EBITDA margin was 17.0% in FY'25, an increase of 220bps compared to the year-ago period. Net income attributable to Korn Ferry and net income attributable to Korn Ferry margin increased as a result of disciplined cost management, strong consultant productivity and a decrease in restructuring charges, net, partially offset by a higher effective tax rate in FY'25 as a result of the favorable impact of the valuation allowance release mentioned in footnote (c) above on FY'24's effective tax rate. Adjusted EBITDA and Adjusted EBITDA margin increased due to disciplined cost management and strong consultant productivity. ______________________ (a) Numbers may not total due to rounding. (b) Estimated fee revenue associated with signed contracts for which revenue has not yet been recognized. (c) Represents number of employees originating, delivering and executing consulting services. (d) The number of hours worked by consultant and execution staff during the period. (e) The amount of fee revenue divided by the number of hours worked by consultants and execution staff. (f) Adjusted results exclude the following: Expand Fourth Quarter Year to Date FY'25 FY'24 FY'25 FY'24 Management separation charges (g) $ 4.6 $ — $ 4.6 $ — Restructuring charges, net $ — $ — $ 1.7 $ 18.9 Impairment of right-of-use assets $ — $ — $ — $ 0.6 Expand (g) Contractual obligations due upon executive's death. Expand Fee revenue was $169.4 million in Q4 FY'25 compared to $182.2 million in Q4 FY'24, a decrease of $12.8 million or 7% in both actual and constant currency. The year-over-year decrease in Consulting fee revenue was primarily due to a greater mix of larger engagements which convert to fee revenue over a longer duration and ongoing slower delivery of backlog engagements driven by clients. Adjusted EBITDA was $29.1 million in Q4 FY'25 compared to $32.3 million in the year-ago quarter. Adjusted EBITDA margin in the quarter decreased year-over-year by 60bps to 17.2%. This decrease resulted primarily from lower fee revenue discussed above. ______________________ (a) Numbers may not total due to rounding. (b) Estimated fee revenue associated with signed contracts for which revenue has not yet been recognized. (c) Adjusted results exclude the following: Expand Fourth Quarter Year to Date FY'25 FY'24 FY'25 FY'24 Restructuring charges, net $ — $ — $ — $ 9.5 Impairment of fixed assets $ — $ — $ 0.4 $ 1.5 Expand Fee revenue was $91.6 million in Q4 FY'25 compared to $91.3 million in Q4 FY'24, essentially flat year-over-year (up 1% at constant currency). Adjusted EBITDA was $28.5 million in Q4 FY'25, relatively flat compared to $28.0 million in the year-ago quarter. Adjusted EBITDA margin in the quarter increased slightly year-over-year by 40bps to 31.1%. ______________________ (a) Executive Search is the sum of the individual Executive Search Reporting Segments described in our annual and quarterly reporting on Forms 10-K and 10-Q and is presented on a consolidated basis as it is consistent with the Company's discussion of its Solutions, and financial metrics used by the Company's investor base. (b) Numbers may not total due to rounding. (c) Estimated fee revenue associated with signed contracts for which revenue has not yet been recognized. (d) Represents new engagements opened in the respective period. (e) Executive Search Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP financial measures that adjust for the following: Expand Fourth Quarter Year to Date FY'25 FY'24 FY'25 FY'24 Restructuring charges, net $ — $ — $ 0.2 $ 28.2 Impairment of right-of-use assets $ — $ — $ 2.5 $ 0.9 Impairment of fixed assets $ — $ — $ 0.2 $ 0.1 Expand Fee revenue was $227.0 million in Q4 FY'25 compared to $198.7 million Q4 FY'24, an increase of $28.3 million or 14% (up 15% at constant currency). The year-over-year increase in fee revenue was primarily driven by an increase in the number of engagements billed and an increase in weighted-average fee billed per engagement. The Company experienced fee revenue growth in North America, EMEA and APAC regions. Adjusted EBITDA was $54.2 million in Q4 FY'25 compared to $45.5 million in the year-ago quarter. Adjusted EBITDA margin increased by 100bps to 23.9% in Q4 FY'25. The increase in Adjusted EBITDA and Adjusted EBITDA margin was due to higher fee revenue and increased consultant productivity. _____________________ (a) Numbers may not total due to rounding. (b) Estimated fee revenue associated with signed contracts for which revenue has not yet been recognized. (c) Represents new engagements opened in the respective period. (d) Fee revenue from interim divided by the number of hours worked by consultants. (e) The number of billable consultants based on a weekly average in the respective period. (f) Adjusted results exclude the following: Expand Fee revenue was $130.7 million in Q4 FY'25 compared to $129.2 million Q4 FY'24, an increase of $1.5 million or 1% (up 2% at a constant currency). Fee revenue increased due to higher fee revenue from Interim as a result of the acquisition of Trilogy, effective November 1, 2024, partially offset by a decrease in fee revenue in Permanent Placement due to an industry wide slowdown in demand. Adjusted EBITDA was $27.4 million in Q4 FY'25 compared to $28.1 million in the year-ago quarter. Adjusted EBITDA margin was 21.0%, down year-over-year by 80bps. ______________________ (a) Numbers may not total due to rounding. (b) Estimated fee revenue associated with signed contracts for which revenue has not yet been recognized. (c) Estimated total value of a contract at the point of execution of the contract. (d) Adjusted results exclude the following: Expand Fee revenue was $93.3 million in Q4 FY'25 compared to $89.5 million in Q4 FY'24, an increase of $3.8 million or 4% (up 5% at constant currency). RPO fee revenue increased due to recent new client wins being stood up and an increase in demand from our base clients in the North America and Asia Pacific regions. Adjusted EBITDA was $14.5 million in Q4 FY'25 compared to $11.8 million in the year-ago quarter. Adjusted EBITDA margin increased 230bps to 15.5% in Q4 FY'25. The increase in Adjusted EBITDA and Adjusted EBITDA margin both resulted from an increase in fee revenue and disciplined cost management. Outlook Assuming worldwide geopolitical conditions, economic conditions, financial markets and foreign exchange rates remain steady, on a consolidated basis: Q1 FY'26 fee revenue is expected to be in the range of $675 million and $695 million; and Q1 FY'26 diluted earnings per share is expected to range between $1.16 to $1.24. On a consolidated adjusted basis: Q1 FY'26 adjusted diluted earnings per share is expected to be in the range from $1.18 to $1.26. ______________________ (1) Consolidated adjusted diluted earnings per share is a non-GAAP financial measure that excludes the items listed in the table. Expand Earnings Conference Call Webcast The earnings conference call will be held today at 12:00 PM (EDT) and hosted by CEO Gary Burnison, CFO Robert Rozek, SVP Business Development & Analytics Gregg Kvochak and VP Investor Relations Tiffany Louder. The conference call will be webcast and available online at We will also post to the investor relations section of our website earnings slides, which will accompany our webcast, and other important information, and encourage you to review the information that we make available on our website. About Korn Ferry Korn Ferry is a global consulting firm that powers performance. We unlock the potential in your people and unleash transformation across your business—synchronizing strategy, operations, and talent to accelerate performance, fuel growth, and inspire a legacy of change. That's why the world's most forward-thinking companies across every major industry turn to us—for a shared commitment to lasting impact and the bold ambition to Be More Than. Forward-Looking Statements Statements in this press release and our conference call that relate to our outlook, projections, goals, strategies, future plans and expectations, including statements relating to expected labor market conditions, expected demand for and relevance of our products and services, expected results of our business diversification strategy, expected benefits of the acquisition of Trilogy, impact of global events on our business, and other statements of future events or conditions are forward-looking statements that involve a number of risks and uncertainties. Words such as 'believes', 'expects', 'anticipates', 'goals', 'estimates', 'guidance', 'may', 'should', 'could', 'will' or 'likely', and variations of such words and similar expressions are intended to identify such forward-looking statements. Readers are cautioned not to place undue reliance on such statements. Such statements are based on current expectations; actual results in future periods may differ materially from those currently expected or desired because of a number of risks and uncertainties that are beyond the control of Korn Ferry. The potential risks and uncertainties include those relating to global and local political and or economic developments in or affecting countries where we have operations, such as inflation, trade wars, interest rates, labor market conditions, global slowdowns, or recessions, competition, geopolitical tensions, shifts in global trade patterns, changes in demand for our services as a result of automation, dependence on and costs of attracting and retaining qualified and experienced consultants, impact of inflationary pressures on our profitability, our ability to maintain relationships with customers and suppliers and retaining key employees, maintaining our brand name and professional reputation, potential legal liability and regulatory developments, portability of client relationships, consolidation of or within the industries we serve, changes and developments in government laws and regulations, evolving investor and customer expectations with regard to corporate responsibility matters, currency fluctuations in our international operations, risks related to growth, alignment of our cost structure, including as a result of recent workforce, real estate, and other restructuring initiatives, restrictions imposed by off-limits agreements, reliance on information processing systems, cyber security vulnerabilities or events, changes to data security, data privacy, and data protection laws, dependence on third parties for the execution of critical functions, limited protection of our intellectual property ("IP"), our ability to enhance, develop and respond to new technology, including artificial intelligence, our ability to successfully recover from a disaster or other business continuity problems, employment liability risk, an impairment in the carrying value of goodwill and other intangible assets, treaties, or regulations on our business and our Company, deferred tax assets that we may not be able to use, our ability to develop new products and services, changes in our accounting estimates and assumptions, the utilization and billing rates of our consultants, seasonality, the expansion of social media platforms, the ability to effect acquisitions and integrate acquired businesses, resulting organizational changes, our indebtedness, and those relating to the ultimate magnitude and duration of any pandemic or outbreaks. For a detailed description of risks and uncertainties that could cause differences from our expectations, please refer to Korn Ferry's periodic filings with the Securities and Exchange Commission. Korn Ferry disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Use of Non-GAAP Financial Measures This press release contains financial information calculated other than in accordance with U.S. Generally Accepted Accounting Principles ('GAAP'). In particular, it includes: Adjusted net income attributable to Korn Ferry, adjusted to exclude integration/acquisition costs, impairment of fixed assets, impairment of right-of-use assets, management separation charges and restructuring charges, net of income tax effect, and to exclude a $9.7 million non-recurring tax benefit in fiscal 2024 from actions taken in connection with the worldwide minimum tax that resulted in the release of a valuation allowance; Adjusted basic and diluted earnings per share, adjusted to exclude integration/acquisition costs, impairment of fixed assets, impairment of right-of-use assets, management separation charges and restructuring charges, net of income tax effect, and to exclude a $9.7 million non-recurring tax benefit in fiscal 2024 from actions taken in connection with the worldwide minimum tax that resulted in the release of a valuation allowance; Constant currency (calculated using a quarterly average) percentages that represent the percentage change that would have resulted had exchange rates in the prior period been the same as those in effect in the current period; and Consolidated and Executive Search Adjusted EBITDA, which is earnings before interest, taxes, depreciation and amortization, further adjusted to exclude integration/acquisition costs, impairment of fixed assets, impairment of right-of-use assets, management separation charges and restructuring charges, net when applicable, and Consolidated and Executive Search Adjusted EBITDA margin. This non-GAAP disclosure has limitations as an analytical tool, should not be viewed as a substitute for financial information determined in accordance with GAAP, and should not be considered in isolation or as a substitute for analysis of the Company's results as reported under GAAP, nor is it necessarily comparable to non-GAAP performance measures that may be presented by other companies. Management believes the presentation of non-GAAP financial measures in this press release provides meaningful supplemental information regarding Korn Ferry's performance by excluding certain charges that may not be indicative of Korn Ferry's ongoing operating results. These non-GAAP financial measures are performance measures and are not indicative of the liquidity of Korn Ferry. These charges, which are described in the footnotes in the attached reconciliations, represent 1) costs we incurred to acquire and integrate a portion of our Professional Search & Interim business, 2) impairment of fixed assets primarily due to software impairment charge in our Digital segment, 3) impairment of right-of-use assets due to the decision to terminate and sublease some of our offices, 4) restructuring charges, net to align workforce to challenging macroeconomic business environment, 5) separation charges due to contractual obligations due upon executive's death and 6) to exclude a $9.7 million non-recurring tax benefit in fiscal 2024 from actions taken in connection with the worldwide minimum tax that resulted in the release of a valuation allowance. The use of non-GAAP financial measures facilitates comparisons to Korn Ferry's historical performance. Korn Ferry includes non-GAAP financial measures because management believes they are useful to investors in allowing for greater transparency with respect to supplemental information used by management in its evaluation of Korn Ferry's ongoing operations and financial and operational decision-making. Adjusted net income attributable to Korn Ferry, adjusted basic and diluted earnings per share and Consolidated and Executive Search Adjusted EBITDA, exclude certain charges that management does not consider on-going in nature and allows management and investors to make more meaningful period-to-period comparisons of the Company's operating results. Management further believes that Consolidated and Executive Search Adjusted EBITDA is useful to investors because it is frequently used by investors and other interested parties to measure operating performance among companies with different capital structures, effective tax rates and tax attributes and capitalized asset values, all of which can vary substantially from company to company. In the case of constant currency percentages, management believes the presentation of such information provides useful supplemental information regarding Korn Ferry's performance as excluding the impact of exchange rate changes on Korn Ferry's financial performance allows investors to make more meaningful period-to-period comparisons of the Company's operating results, to better identify operating trends that may otherwise be masked or distorted by exchange rate changes and to perform related trend analysis, and provides a higher degree of transparency of information used by management in its evaluation of Korn Ferry's ongoing operations and financial and operational decision-making. KORN FERRY AND SUBSIDIARIES FINANCIAL SUMMARY BY REPORTING SEGMENT (dollars in thousands) (unaudited) Three Months Ended April 30, Year Ended April 30, 2025 2024 % Change 2025 2024 % Change Fee revenue: Consulting $ 169,363 $ 182,177 (7.0 %) $ 662,708 $ 695,007 (4.6 %) Digital 91,634 91,304 0.4 % 363,530 366,699 (0.9 %) Executive Search: North America 143,014 125,468 14.0 % 535,921 506,927 5.7 % EMEA 53,479 45,643 17.2 % 194,088 184,516 5.2 % Asia Pacific 23,630 20,696 14.2 % 87,337 85,863 1.7 % Latin America 6,880 6,896 (0.2 %) 28,862 28,937 (0.3 %) Total Executive Search (a) 227,003 198,703 14.2 % 846,208 806,243 5.0 % Professional Search & Interim 130,710 129,162 1.2 % 503,515 540,615 (6.9 %) RPO 93,338 89,454 4.3 % 354,127 354,107 0.0 % Total fee revenue 712,048 690,800 3.1 % 2,730,088 2,762,671 (1.2 %) Reimbursed out-of-pocket engagement expenses 7,779 9,123 (14.7 %) 30,998 32,834 (5.6 %) Total revenue $ 719,827 $ 699,923 2.8 % $ 2,761,086 $ 2,795,505 (1.2 %) Expand (a) Total Executive Search is the sum of the individual Executive Search Reporting Segments and is presented on a consolidated basis as it is consistent with the Company's discussion of its Solutions, and financial metrics used by the Company's investor base. Expand KORN FERRY AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (in thousands, except per share amounts) April 30, 2025 2024 ASSETS Cash and cash equivalents $ 1,006,964 $ 941,005 Marketable securities 36,388 42,742 Receivables due from clients, net of allowance for doubtful accounts of $40,461 and $44,192 at April 30, 2025 and 2024, respectively 565,255 541,014 Income taxes and other receivables 38,394 40,696 Unearned compensation 61,649 59,247 Prepaid expenses and other assets 41,488 49,456 Total current assets 1,750,138 1,674,160 Marketable securities, non-current 233,626 211,681 Property and equipment, net 173,610 161,849 Operating lease right-of-use assets, net 152,712 160,464 Cash surrender value of company-owned life insurance policies, net of loans 252,621 218,977 Deferred income taxes 144,560 133,564 Goodwill 948,832 908,376 Intangible assets, net 70,193 88,833 Unearned compensation, non-current 106,965 99,913 Investments and other assets 27,967 21,052 Total assets $ 3,861,224 $ 3,678,869 LIABILITIES AND STOCKHOLDERS' EQUITY Accounts payable $ 58,884 $ 50,112 Income taxes payable 23,079 24,076 Compensation and benefits payable 530,473 525,466 Operating lease liability, current 38,573 36,073 Other accrued liabilities 304,589 298,792 Total current liabilities 955,598 934,519 Deferred compensation and other retirement plans 477,770 440,396 Operating lease liability, non-current 131,762 143,507 Long-term debt 397,736 396,946 Deferred tax liabilities 5,981 4,540 Other liabilities 20,238 21,636 Total liabilities 1,989,085 1,941,544 Stockholders' equity Common stock: $0.01 par value, 150,000 shares authorized, 78,264 and 77,460 shares issued and 51,458 and 51,983 shares outstanding at April 30, 2025 and 2024, respectively 364,425 414,885 Retained earnings 1,588,274 1,425,844 Accumulated other comprehensive loss, net (86,243 ) (107,671 ) Total Korn Ferry stockholders' equity 1,866,456 1,733,058 Noncontrolling interest 5,683 4,267 Total stockholders' equity 1,872,139 1,737,325 Total liabilities and stockholders' equity $ 3,861,224 $ 3,678,869 Expand KORN FERRY AND SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (dollars in thousands) (unaudited) Three Months Ended April 30, Year Ended April 30, Net income attributable to Korn Ferry $ 64,244 $ 65,189 $ 246,062 $ 169,154 Net income attributable to non-controlling interest 894 423 5,014 3,407 Net income 65,138 65,612 251,076 172,561 Income tax provision 23,789 20,302 93,836 50,081 Income before provision for income taxes 88,927 85,914 344,912 222,642 Interest expense, net 5,331 4,686 20,363 20,968 Depreciation and amortization 20,531 19,891 80,287 77,966 Integration/acquisition costs (1) 1,738 1,809 8,837 14,866 Impairment of fixed assets (2) — — 509 1,575 Impairment of right-of-use assets (3) — — 2,452 1,629 Restructuring charges, net (4) — — 1,892 68,558 Management separation charges (5) 4,614 — 4,614 — Adjusted EBITDA $ 121,141 $ 112,300 $ 463,866 $ 408,204 Net income attributable to Korn Ferry margin 9.0 % 9.4 % 9.0 % 6.1 % Net income attributable to non-controlling interest 0.1 % 0.1 % 0.2 % 0.1 % Income tax provision 3.3 % 2.9 % 3.4 % 1.8 % Interest expense, net 0.8 % 0.7 % 0.8 % 0.8 % Depreciation and amortization 2.9 % 2.9 % 2.9 % 2.8 % Integration/acquisition costs (1) 0.2 % 0.3 % 0.3 % 0.5 % Impairment of fixed assets (2) — % — % 0.0 % 0.1 % Impairment of right-of-use assets (3) — % — % 0.1 % 0.1 % Restructuring charges, net (4) — % — % 0.1 % 2.5 % Management separation charges (5) 0.7 % — % 0.2 % — % Adjusted EBITDA margin 17.0 % 16.3 % 17.0 % 14.8 % Net income attributable to Korn Ferry $ 64,244 $ 65,189 $ 246,062 $ 169,154 Integration/acquisition costs (1) 1,738 1,809 8,837 14,866 Impairment of fixed assets (2) — — 509 1,575 Impairment of right-of-use assets (3) — — 2,452 1,629 Restructuring charges, net (4) — — 1,892 68,558 Management separation charges (5) 4,614 — 4,614 — Tax effect on the adjusted items (6) (487 ) (1,267 ) (3,187 ) (22,030 ) Tax adjustment (7) — — — (9,714 ) Adjusted net income attributable to Korn Ferry $ 70,109 $ 65,731 $ 261,179 $ 224,038 Expand Explanation of Non-GAAP Adjustments (1) Costs associated with current and previous acquisitions, such as legal and professional fees, retention awards and the on-going integration expenses. (2) Costs associated with impairment of fixed assets primarily due to software impairment charge in our Digital segment. (3) Costs associated with impairment of right-of-use assets due to terminating and deciding to sublease some of our offices. (4) Restructuring charges incurred to align our workforce to eliminate excess capacity resulting from challenging macroeconomic business environment. (5) Contractual obligations due upon executive's death. (6) Tax effect on integration/acquisition costs, impairment of fixed assets and right-of-use assets, restructuring charges, net and separation charges. (7) Due to actions taken in connection with the worldwide minimum tax, the Company recorded a $9.7 million non-recurring tax benefit in fiscal 2024 that resulted in the release of a valuation allowance, which is included in the Company's US GAAP results but excluded from the Adjusted results. Expand Three Months Ended April 30, Year Ended April 30, 2025 2024 2025 2024 Basic earnings per common share $ 1.23 $ 1.26 $ 4.69 $ 3.25 Integration/acquisition costs (1) 0.03 0.04 0.17 0.29 Impairment of fixed assets (2) — — 0.01 0.03 Impairment of right-of-use assets (3) — — 0.05 0.03 Restructuring charges, net (4) — — 0.03 1.33 Management separation charges (5) 0.09 — 0.09 — Tax effect on the adjusted items (6) (0.01 ) (0.03 ) (0.06 ) (0.43 ) Tax adjustment (7) — — — (0.19 ) Adjusted basic earnings per share $ 1.34 $ 1.27 $ 4.98 $ 4.31 Diluted earnings per common share $ 1.21 $ 1.24 $ 4.60 $ 3.23 Integration/acquisition costs (1) 0.03 0.04 0.16 0.29 Impairment of fixed assets (2) — — 0.01 0.03 Impairment of right-of-use assets (3) — — 0.05 0.03 Restructuring charges, net (4) — — 0.03 1.32 Management separation charges (5) 0.09 — 0.09 — Tax effect on the adjusted items (6) (0.01 ) (0.02 ) (0.06 ) (0.43 ) Tax adjustment (7) — — — (0.19 ) Adjusted diluted earnings per share $ 1.32 $ 1.26 $ 4.88 $ 4.28 Expand Explanation of Non-GAAP Adjustments (1) Costs associated with current and previous acquisitions, such as legal and professional fees, retention awards and the on-going integration expenses. (2) Costs associated with impairment of fixed assets primarily due to software impairment charge in our Digital segment. (2) Costs associated with impairment of right-of-use assets due to terminating and deciding to sublease some of our offices. (4) Restructuring charges incurred to align our workforce to eliminate excess capacity resulting from challenging macroeconomic business environment. (5) Contractual obligations due upon executive's death. (6) Tax effect on integration/acquisition costs, impairment of fixed assets and right-of-use assets, restructuring charges, net and management separation charges. (7) Due to actions taken in connection with the worldwide minimum tax, the Company recorded a $9.7 million non-recurring tax benefit in fiscal 2024 that resulted in the release of a valuation allowance, which is included in the Company's US GAAP results but excluded from the Adjusted results. Expand
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Loop Capital Markets Maintains a Buy on Seagate Technology (STX) With a $200 Price Target
Seagate Technology Holdings plc (NASDAQ:STX) is one of the . In a report released on June 9, Ananda Baruah from Loop Capital Markets maintained a Buy rating on Seagate Technology Holdings plc (NASDAQ:STX) with a price target of $200.00. The company's fiscal Q3 2025 results showed profitable year-over-year growth and margin expansion, with revenue of $2.16 billion. GAAP diluted EPS for the quarter reached $1.57, while non-GAAP diluted EPS was $1.90. A technician configuring a network-attached storage drive. Seagate Technology Holdings plc (NASDAQ:STX) reduced outstanding debt by $536 million in the quarter, with cash and cash equivalents totaling $814 million by quarter end. It generated $259 million in cash flow from operations and returned $152 million of capital to shareholders through its quarterly dividend. Seagate Technology Holdings plc (NASDAQ:STX) also declared a cash dividend of $0.72 per share. Seagate Technology Holdings plc (NASDAQ:STX) is a holding company that develops, produces, and distributes electronic data storage solutions and data storage products. Its offerings include solid-state hybrid drives, hard disk drives, solid-state drives, serial advanced technology attachment controllers, peripheral component interconnect express cards, and storage subsystems and computing solutions. While we acknowledge the potential of STX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
