DHI(US:DHX)2025-11-10 21:17Revenue Performance - Total revenue for Q3 2025 was $32.1 million, a decrease of 9% compared to Q3 2024[4] - Total revenue for Q3 2025 was $32,123, a decrease of 9% compared to $35,283 in Q3 2024[25] - Year-to-date revenue for 2025 was $96,451, down 10% from $107,141 in 2024[35] - The company reported a total revenue of $96,451,000 for the nine months ended September 30, 2025, compared to $107,141,000 in the same period of 2024, a decrease of 10%[60] Bookings and Customer Metrics - Total bookings were $25.4 million, down 12%, with ClearanceJobs bookings at $12.0 million (down 7%) and Dice bookings at $13.4 million (down 17%)[4] - Total bookings for Q3 2025 were $25.4 million, a decrease of 12% from $28.9 million in Q3 2024[41] - Average annual revenue per recruitment package customer for ClearanceJobs increased by 7% to $26,601 in Q3 2025, while Dice saw a decrease of 4% to $15,727[42] - Recruitment package customers decreased by 8% for ClearanceJobs to 1,822 and by 13% for Dice to 4,239 as of September 30, 2025[47] - Renewal rate on revenue for ClearanceJobs dropped to 85% in Q3 2025 from 91% in Q3 2024, and Dice's renewal rate decreased to 69% from 74%[43] Profitability and Loss - Net loss for the quarter was $4.3 million, or $0.10 per diluted share, compared to a net loss of $0.2 million, driven by a $9.6 million impairment of intangible assets[4] - Net loss for Q3 2025 was $4,269, compared to a net loss of $200 in Q3 2024, representing a significant increase in loss[25] - For Q3 2025, the net loss was $8.5 million, or $0.19 per diluted share, compared to a net loss of $2.7 million, or $0.05 per diluted share in Q3 2024[36] - For the nine months ended September 30, 2025, the net loss was $24.3 million, or $0.54 per diluted share, compared to a net loss of $8.4 million, or $0.19 per diluted share in the same period of 2024[38] Adjusted EBITDA - Adjusted EBITDA increased by 19% to $10.3 million, with an Adjusted EBITDA margin of 32% compared to 24% in the previous year[4] - Adjusted EBITDA for Q3 2025 was $10,273, reflecting a 19% increase from $8,619 in Q3 2024[35] - Adjusted EBITDA margin improved to 32% in Q3 2025, up from 24% in Q3 2024[35] - The Adjusted EBITDA margin for Q3 2025 was 32%, up from 24% in Q3 2024, showing improved operational efficiency[62] - For the nine months ended September 30, 2025, the Adjusted EBITDA was $25,748,000, slightly down from $26,160,000 in the same period of 2024[60] Cash Flow and Debt - Cash flow from operations was $4.8 million, generating free cash flow of $3.2 million, an increase from $2.3 million[4] - Free cash flow for Q3 2025 was $3.17 million, an increase of 38% from $2.29 million in Q3 2024[52] - Total debt decreased to $30.0 million from $32.0 million, with cash at the end of the quarter at $2.3 million[4] - The company reported a total of $2,296 in cash at the end of Q3 2025, down from $3,702 at the end of 2024[30] - Interest expense for YTD 2025 was $1,893,000, down from $2,546,000 in YTD 2024, indicating a reduction in financing costs[60] Guidance and Future Outlook - Full-year revenue guidance is reiterated at $126 to $128 million, with Q4 revenue expected to be between $29.5 million and $31.5 million[6] - Full-year Adjusted EBITDA margin guidance raised to 27% due to improved Dice margins[6] - The company provided guidance for future Adjusted EBITDA margin but could not reconcile it to GAAP measures due to uncertainties in predicting various financial impacts[63] Asset and Liability Overview - Total assets decreased to $192,476 as of September 30, 2025, from $221,371 at the end of 2024[30] - Total liabilities were reported at $95,199 as of September 30, 2025, down from $107,046 at the end of 2024[30] - Deferred revenue as of September 30, 2025, was $40.98 million, down 10% from $45.46 million in December 2024[47] Impairment and Other Charges - The company incurred an impairment of intangible assets amounting to $9,600,000 in Q3 2025[58]