Adjusted EPS grew 39% to $4.78 per share and free cash flow doubled to $3 billion, all records for the company.
Affiliate fee revenues grew 5% for the full year, led by 7% growth in the Television segment.
Cable Network Programming segment revenue grew 7% with 6% EBITDA growth, driven by FOX News and Fox Nation subscriber growth.
Fiscal 2025 was a record year for Fox Corporation with revenue growth of 17% to $16 billion and EBITDA growth of 26% to $3.6 billion.
Fourth quarter revenues increased 6% with adjusted EBITDA up 21%, advertising revenues up 7%, and net income attributable to stockholders at $717 million or $1.57 per share.
FOX News achieved record audience share, reaching over 70% of the cable news audience at times during the year.
Free cash flow for the quarter was nearly $1.4 billion, consistent with seasonal working capital cycles.
Political advertising revenue exceeded $400 million, and Super Bowl LIX generated over $800 million in gross advertising revenue.
Television segment revenue grew 6%, with advertising revenues up 3% and EBITDA more than doubling compared to the prior year quarter.
GAAP net income was $68 million or $1.47 per diluted share, compared to $51 million or $1.10 per share in the prior year.
Gross margin reached an all-time quarterly record of 36.9%, up 230 basis points year-over-year due to favorable mix.
Itron reported second quarter revenue of $607 million, adjusted EBITDA of $90 million, non-GAAP earnings per share of $1.62, and free cash flow of $91 million.
Margins improved across all segments with Device Solutions gross margin up 350 basis points, Networked Solutions gross margin up 160 basis points, and Outcomes gross margin up 370 basis points year-over-year.
Non-GAAP operating income was a record $82 million, up 19% year-over-year, and adjusted EBITDA margin was 14.8%, a new record increasing 16% year-over-year.
Segment revenue trends included an 8% decrease in Device Solutions revenue on a constant currency basis, a 1% decrease in Networked Solutions revenue, and a 9% increase in Outcomes revenue year-over-year.
Total debt was $1.265 billion with net debt of $41 million, net leverage at 0.1x, and cash and equivalents of $1.2 billion at quarter end.
Annual recurring revenue (ARR) reached $178 million, up 8% year-over-year including $8 million from the Nok Nok acquisition; excluding Nok Nok, ARR grew 3%.
Digital Agreements ARR grew 4.5% to $63 million; revenue grew 1% with subscription revenue up 5%, offset by maintenance revenue declines from sunsetting on-premise e-signature products.
GAAP operating income increased to $10.5 million from $7.6 million in Q2 2024; GAAP net income per share rose to $0.21 from $0.17.
Gross margin improved to 73% in Q2 2025 from 66% in Q2 2024, driven by favorable product and customer mix and absence of prior year asset write-offs.
Non-GAAP earnings per share increased to $0.34 from $0.31 in Q2 2024.
OneSpan reported adjusted EBITDA of $18 million or 29.5% of revenue in Q2 2025, and a record adjusted EBITDA of $41 million (33% of revenue) for the first half of 2025.
Operating cash flow for Q2 2025 was $6.2 million, up from $2.3 million in Q2 2024; cash and cash equivalents ended at $92.9 million.
Security Solutions ARR was $114.5 million, up 9% year-over-year; security revenue declined 3% due to hardware and maintenance headwinds but subscription revenue grew 39%.
Subscription revenue grew 22% in Q2 2025, driven by 39% growth in security and 5% growth in digital agreements.
Total revenue declined modestly by 2% year-over-year to $59.8 million, primarily due to declines in security hardware revenue and maintenance revenue from contract transitions and sunsetted products.
Dafinchi