BRP(US:BRP)2025-11-04 21:15Revenue Growth - Total revenue for Q3 2025 increased by 8% year-over-year to $365.4 million, with organic revenue growth of 5%[1] - Year-to-date total revenue grew by 9% to $1.158 billion, with organic revenue growth also at 9%[11] - For the three months ended September 30, 2025, revenues increased to $365.4 million, up from $338.9 million in the same period of 2024, representing a growth of approximately 7.5%[37] - Organic revenue for the three months ended September 30, 2025, was $350.1 million, reflecting a growth of $15.2 million or 5% compared to the same period in 2024[39] - Organic revenue growth for the nine months ended September 30, 2025, was 9%, down from 16% in the same period of 2024, indicating a slowdown in growth[39] Net Loss and Earnings Per Share - Q3 2025 net loss was $30.2 million, resulting in a diluted loss per share of $0.27; adjusted diluted EPS was $0.31, a decrease of 6% year-over-year[5] - Year-to-date net loss amounted to $10.5 million, with a diluted loss per share of $0.12; adjusted diluted EPS increased by 11% year-over-year to $1.37[11] - The net loss for the three months ended September 30, 2025, was $30.2 million, compared to a net loss of $14.5 million in the same period of 2024, indicating a significant increase in losses[37] - Adjusted net income for the three months ended September 30, 2025, was $36.5 million, compared to $38.5 million in the same period of 2024, showing a decrease in adjusted net income[40] - The company reported an adjusted diluted EPS of $0.31 for the three months ended September 30, 2025, down from $0.33 in the same period of 2024[40] Adjusted EBITDA and Cash Flow - Adjusted EBITDA for Q3 2025 was $72.5 million, maintaining the same level year-over-year, with an adjusted EBITDA margin of 19.8%[5] - Year-to-date adjusted EBITDA grew by 9% to $271.8 million, with an adjusted EBITDA margin of 23.5%[11] - Adjusted EBITDA for the three months ended September 30, 2025, was $72.5 million, slightly down from $72.8 million in the same period of 2024, resulting in an adjusted EBITDA margin of 19.8%[37] - The pro forma adjusted EBITDA for the nine months ended September 30, 2025, was $279.9 million, compared to $247.7 million in the same period of 2024, indicating a year-over-year increase[43] - Adjusted free cash flow for Q3 2025 increased by 26% year-over-year to $41.8 million[5] - Adjusted free cash flow for the three months ended September 30, 2025, was $41,810 thousand, compared to $33,180 thousand for the same period in 2024, reflecting a year-over-year increase of 4.9%[47] - For the nine months ended September 30, 2025, adjusted free cash flow was $76,257 thousand, down from $86,043 thousand in 2024, indicating a decrease of 11.3%[47] Financial Position and Assets - As of September 30, 2025, cash and cash equivalents were $89.7 million, with a borrowing capacity of $524 million under the revolving credit facility[6] - Total assets increased to $3,793,774, up from $3,534,731, representing a growth of 7.3%[21] - Current liabilities decreased to $959,713 from $1,056,434, a reduction of 9.2%[21] - Total stockholders' equity increased to $1,127,680 from $1,008,344, reflecting a growth of 11.8%[21] - Cash and cash equivalents at the end of the period were $325,944, down from $344,716, a decrease of 5.3%[23] Capital Expenditures and Payments - Capital expenditures for the nine months were $29,174, slightly up from $28,897 in 2024[23] - The company reported a significant payment of $85,090 for contingent earnout consideration, compared to $21,145 in the prior year[23] - The payment of contingent earnout consideration in excess of purchase price accrual for the nine months ended September 30, 2025, was $85,090 thousand, significantly higher than $21,145 thousand in 2024[47] - The payment of colleague earnout incentives for the nine months ended September 30, 2025, was $30,854 thousand, compared to $11,144 thousand in 2024, showing a substantial increase of 176.5%[47] Strategic Focus and Future Plans - The CEO highlighted ongoing optimization of the capital stack and continued de-levering as key drivers for long-term shareholder value[4] - The company continues to focus on strategic acquisitions and partnerships to enhance its market position and operational efficiency[48] - The financial results reflect the company's ongoing commitment to improving cash flow and managing operational expenses effectively[48] - The company plans to present fiduciary assets and liabilities separately on the consolidated balance sheets starting January 1, 2025, which will affect the calculation of adjusted free cash flow[35]