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.
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.
Cash flow from operations was $26 million, or 17% of revenue, and free cash flow was $10.9 million, a significant improvement from negative $18.5 million in Q2 2024.
Fastly reported Q2 2025 revenue of $148.7 million, a 12% year-over-year increase, exceeding the high end of guidance.
Gross margin improved to 59%, up 170 basis points quarter-over-quarter due to margin leverage and network efficiencies.
Operating loss was $4.6 million, better than the guided midpoint of $6 million loss, with operating expenses up only 2% year-over-year.
Security revenue reached a record $29.3 million, representing 20% of total revenue and growing 15% year-over-year.
Top 10 customers accounted for 31% of revenue, down from 33% in Q1, with revenue outside the top 10 growing 17% year-over-year.
Fortinet reported strong Q2 2025 financial results with total billings growing 15% to $1.78 billion and revenue increasing 14% to $1.63 billion.
Free cash flow was $284 million, adjusted free cash flow was $428 million, up $104 million, with strong cash generation of $1.27 billion year-to-date.
Gross margin improved by 10 basis points to 81.6%, with product gross margin up 180 basis points and service gross margin down 80 basis points.
Infrastructure investments increased to $168 million, up $145 million year-over-year, supporting FortiSASE, FortiCloud, and other services.
Non-GAAP operating margin was 33.1%, slightly above guidance despite a 200 basis point year-over-year decline due to investments and FX headwinds.
Product revenue grew 13% to $509 million, driven by upgrade buying and operational technology growth, while service revenue increased 14% to $1.12 billion.
Dafinchi