comScore(US:SCOR)2025-11-06 23:23Financial Performance - Revenues for Q3 2025 were $88,906,000, a slight increase of 0.5% compared to $88,479,000 in Q3 2024[15] - Net income for Q3 2025 was $453,000, compared to a net loss of $60,630,000 in Q3 2024, indicating a significant improvement[15] - Total revenues for the nine months ended September 30, 2025, were $264,004, a 1.1% increase from $261,111 in the same period of 2024[144] - The company reported a net loss available to common stockholders of $4,518,000 for Q3 2025, compared to a loss of $65,208,000 in Q3 2024[15] - For the nine months ended September 30, 2025, the net loss was $13,032,000, a significant improvement compared to a net loss of $63,392,000 for the same period in 2024, representing a reduction of approximately 79.5%[19] Revenue Breakdown - Content & Ad Measurement revenue for Q3 2025 was $75,519, representing 84.9% of total revenue, with a slight increase of 0.3% from $75,274 in Q3 2024[143] - Research & Insight Solutions revenue for Q3 2025 was $13,387, a 1.4% increase from $13,205 in Q3 2024[143] - Cross-Platform revenue for the nine months ended September 30, 2025, increased by 32.4% to $34,761 from $26,252 in 2024[144] - Research & Insight Solutions revenue for the nine months ended September 30, 2025, decreased by 6.0% to $38,566 from $41,028 in 2024[144] Expenses and Costs - Cost of revenues for Q3 2025 was $52,783,000, up from $52,005,000 in Q3 2024, representing an increase of 1.5%[15] - Total expenses from operations for Q3 2025 were $87,201,000, down from $148,084,000 in Q3 2024, a decrease of 41.0%[15] - Selling and marketing expenses for Q3 2025 totaled $14,551,000, representing 16.4% of revenue, an increase of 16.3% from $12,515,000 in Q3 2024[151] - Employee costs within selling and marketing increased by 18.2% to $11,451,000 in Q3 2025, primarily due to higher commissions and bonuses[151] - Research and development expenses for Q3 2025 were $7,184,000, accounting for 8.1% of revenue, a slight decrease of 1.2% from $7,272,000 in Q3 2024[154] Assets and Liabilities - Total current assets decreased to $91,518,000 as of September 30, 2025, down from $108,057,000 as of December 31, 2024, a decline of 15.3%[14] - Total liabilities decreased to $225,732,000 as of September 30, 2025, from $231,040,000 as of December 31, 2024, a reduction of 2.3%[14] - The total stockholders' equity (deficit) as of September 30, 2025, was $(26,257,000), compared to $(8,263,000) as of December 31, 2024[14] - The company’s accumulated deficit increased to $1,501,204,000 as of September 30, 2025, compared to $1,474,268,000 as of December 31, 2024[14] Cash Flow and Financing - Net cash provided by operating activities for the nine months ended September 30, 2025, was $19,489,000, down from $28,140,000 in 2024, indicating a decrease of about 30.8%[19] - The company reported a total cash, cash equivalents, and restricted cash of $29,883,000 as of September 30, 2025, up from $20,185,000 in 2024, marking an increase of about 48.4%[19] - The company has agreed to make a one-time cash payment of $2,000,000 to each of the Preferred Stockholders on June 30, 2028, contingent upon the closing of the Exchange Agreements[25] - The company incurred stock-based compensation expense of $2,863,000 for the nine months ended September 30, 2025, an increase from $2,267,000 in 2024, representing a rise of approximately 26.4%[19] Debt and Preferred Stock - The Credit Agreement provides a borrowing capacity of $60 million, consisting of a $45 million term loan and a $15 million revolving credit facility[85] - As of September 30, 2025, accrued dividends for the Preferred Stock totaled $22.9 million, with no shares converted into Common Stock[78] - The company was in compliance with the covenants under the Credit Agreement as of September 30, 2025[91] - The company issued 82,527,609 shares of Preferred Stock on March 10, 2021, generating gross proceeds of $204 million, with net proceeds of $187.9 million after issuance costs[64] Impairment and Goodwill - The company incurred no impairment charges related to goodwill during the three and nine months ended September 30, 2025, following a $63,000,000 charge in the same periods of 2024[159] - The Company recorded a $63.0 million non-cash impairment charge for goodwill during the three and nine months ended September 30, 2024, after concluding that the estimated fair value of its reporting unit was less than its carrying value[42] Legal and Compliance - The Company is involved in various legal proceedings, with a potential sales tax liability assessment from Washington state amounting to approximately $8.0 million[131] - The company conducted an evaluation of its disclosure controls and procedures, concluding they were effective as of September 30, 2025[206] - There were no changes in internal control over financial reporting during the most recent fiscal quarter that materially affected the company's internal control[207]