Revenue Performance - Revenues before reimbursements decreased 2% to $322.2 million in Q3 2025 from $329.4 million in Q3 2024[2] - Total revenues for Q3 2025 were $332.8 million, a decrease of 3% from $342.7 million in Q3 2024[43] - For the nine months ended September 30, 2025, total revenues were $990.7 million, a 1% increase from $982.7 million in the same period of 2024[45] - For the nine months ended September 30, 2025, revenues before reimbursements were $234.8 million, a 0.9% increase from $232.7 million in 2024[52] Net Income and Earnings - Net income attributable to shareholders increased 31% to $12.4 million, or $0.25 per diluted share, compared to $9.5 million, or $0.19 per diluted share in the prior year quarter[3] - Net income for Q3 2025 increased by 32% to $12.4 million, compared to $9.4 million in Q3 2024[43] - Net income for the nine months ended September 30, 2025, was $26.9 million, reflecting a 30% increase from $20.7 million in 2024[45] - Net income for the year-to-date period ended September 30, 2025, was $26.949 million, up from $20.668 million in 2024[54] Operating Performance - Consolidated adjusted operating earnings rose 22% to $26.6 million in Q3 2025, with an adjusted EBITDA increase of 23% to $36.3 million[3] - Operating margin for Broadspire improved to 15.1% in Q3 2025 from 14.5% in Q3 2024, driven by revenue growth and decreased administrative costs[14] - For the three months ended September 30, 2025, consolidated operating earnings were $26,591, an increase from $21,835 in the same period of 2024, representing a growth of 25.4%[36] - Operating earnings for the same period were $17.01 million, representing a 14.9% increase compared to $14.80 million in 2024[52] Cash Flow and Financial Position - The company reported a free cash flow of $24,129 for the nine months ended September 30, 2025, a significant improvement of $42,481 compared to a negative free cash flow of $(18,352) in the same period of 2024[36] - The company’s consolidated cash and cash equivalents increased to $68.8 million as of September 30, 2025, compared to $55.4 million at December 31, 2024[26] - Cash, cash equivalents, and restricted cash at the end of the period were $69.115 million, compared to $54.683 million at the end of September 2024[54] - Net cash provided by operating activities increased significantly to $51.715 million from $11.093 million in the previous year[54] International Operations - International Operations achieved record revenues of $112.9 million in Q3 2025, up 6.7% from $105.7 million in Q3 2024[9] - International operations generated $7,447 in operating earnings for the three months ended September 30, 2025, compared to $5,136 in 2024, marking an increase of 45.0%[36] - The U.S. contributed 58.0% of total revenues for the three months ended September 30, 2025, slightly down from 60.8% in the same period of 2024[35] Corporate Costs and Share Repurchase - Unallocated corporate costs decreased to $5.9 million in Q3 2025 from $7.0 million in Q3 2024, primarily due to lower professional fees[20] - The company repurchased 263,098 shares of CRD-A at an average cost of $10.71 per share during Q3 2025[28] Future Outlook - The company plans to continue focusing on market expansion and new product development to drive future growth[41]
Crawford(CRD_A) - 2025 Q3 - Quarterly Results