Adjusted EBITDA was nearly $17 million with a 13% margin, expanding 723 basis points year-over-year, driven by lower personnel costs and disciplined spending.
Adjusted gross profit increased 23% year-over-year to $78 million with a margin of 61.1%, down from 63.5% due to business mix and FX losses.
GAAP net loss improved by $1.6 million year-over-year to $12 million, with a higher tax provision impacting the quarter.
Q2 2025 revenue less ancillary services was $127.5 million, representing 25% FX-neutral growth, exceeding guidance.
Sertifi contributed $12 million in Q2, adding approximately 12 points of growth.
Share repurchases totaled approximately $5 million in Q2, and the revolving credit facility was expanded to $300 million.
Leasing activity totaled approximately 405,000 square feet in Q2, the highest quarterly total since 2019, with a year-to-date total of about 690,000 square feet.
Mark-to-market on 205,000 square feet of second-generation space was down 5.4% on a cash basis and up 2.6% on a GAAP basis.
New York portfolio leased occupancy increased to 88.1%, the highest since early 2022, while San Francisco's occupancy was 75.1%, down due to the Google lease expiration.
Paramount Group delivered a strong second quarter with core FFO of $0.17 per share, exceeding consensus by $0.03.
The company ended the quarter with over $534 million in cash and restricted cash, and total debt of $3.2 billion with a weighted average interest rate of 4.3%.
Adjusted EPS was $4.66, up 5.7% from the prior year, supported by share repurchases and higher net income.
EBITDA for fiscal 2025 was $976 million, a 1.4% improvement over the prior year but within the outlook range.
Free cash flow generation was approximately $600 million, supporting strong liquidity and capital allocation.
H&R Block reported fiscal 2025 total revenue of $3.8 billion, a 4.2% increase year-over-year.
Net income from continuing operations was $609 million, with earnings per share (EPS) of $4.42, a 6.8% increase year-over-year.
Total operating expenses increased 4.6% to $2.9 billion, driven by higher tax professional wages, benefits, healthcare costs, legal fees, and severance charges.
Dafinchi