Core Viewpoint - Fortrea reported solid financial performance in Q3 2025, with revenue growth and a commitment to operational excellence despite ongoing challenges [2][3]. Financial Results - Revenue for Q3 2025 was $701.3 million, an increase from $674.9 million in Q3 2024, representing a growth of approximately 3.9% [3]. - The GAAP net loss for Q3 2025 was $(15.9) million, with a diluted loss per share of $(0.17), an improvement from a net loss of $(18.5) million and diluted loss per share of $(0.21) in Q3 2024 [4]. - Adjusted net income for Q3 2025 was $11.7 million, with a diluted income per share of $0.12, compared to $20.7 million and $0.23 in Q3 2024 [4]. - Adjusted EBITDA for Q3 2025 was $50.7 million, down from $64.2 million in Q3 2024 [4]. Year-To-Date Results - Year-to-date revenue for the first nine months of 2025 was $2,062.9 million, compared to $1,999.4 million in the same period of 2024, indicating a growth of approximately 3.2% [6]. - Year-to-date GAAP net loss was $(953.7) million, including a non-cash goodwill impairment charge of $797.9 million, compared to a net loss of $(197.6) million in the same period of 2024 [7]. - Adjusted net income year-to-date was $31.2 million, with a diluted income per share of $0.34, compared to $13.5 million and $0.15 in the same period of 2024 [7]. Backlog and Book-to-Bill Ratio - As of September 30, 2025, the backlog was $7,644 million, with a book-to-bill ratio of 1.13x for the quarter [5][10]. Full-Year Guidance - The company raised its revenue guidance for the full year 2025 to a range of $2,700 million to $2,750 million and narrowed adjusted EBITDA guidance to a range of $175 million to $195 million [9][10].