Adjusted EBITDA was $51 million, slightly up year-over-year, with an adjusted EBITDA margin of 28.5%, at the high end of guidance.
Adjusted net income was $26 million or $0.41 per diluted share, up from $0.38 per diluted share a year ago, reflecting share count reduction.
Free cash flow was $42 million year-to-date, down from prior year, mainly due to increased earn-out payments related to acquisitions.
Net income was $7 million or $0.11 per diluted share, down from $11 million or $0.17 per diluted share a year ago due to changes in fair value of contingent consideration.
Operating expenses decreased 3% year-over-year to $163 million, with adjusted operating expenses down 2% to $153 million.
Q2 2025 revenue was $179 million, flat year-over-year, with 5% growth in OEM and national revenue offset by softness in dealer revenue.
Share repurchases totaled $45 million year-to-date, exceeding free cash flow by 7%, and full-year repurchase target was raised to $70-$90 million.
Dafinchi