Adjusted EBITDA increased by 21% to $87 million, with a margin expansion of 190 basis points to 18%.
Adjusted free cash flow for the quarter was $87 million, representing a 100% conversion rate, with a trailing 12-month conversion rate of 91% versus 66% in 2024.
Finance segment average managed receivables increased 4% to $2.3 billion, with adjusted EBITDA up 9% to $42 million.
Loan loss provision remained stable at 1.5%, 60 basis points lower than the prior year.
Marketplace adjusted EBITDA grew 36% to $45 million, with margin expansion of 220 basis points to 12%.
Marketplace segment revenue grew with a 10% increase in GMV to $7.5 billion, driven by 32% growth in dealer GMV and flat commercial GMV.
OPENLANE reported consolidated revenues of $482 million in Q2 2025, representing 9% year-over-year growth.
Share repurchases totaled approximately 1.3 million shares for $31 million under an increased program through 2026.
The company used $210 million of cash to pay off senior notes, resulting in a net debt position of zero at quarter-end.
Adjusted EBITDA was $174 million, exceeding the high end of guidance, with a margin of 13.8%, down 30 basis points due to unfavorable currency impacts.
Gross profit margin improved by 10 basis points to 78%, driven by favorable pricing and lower inventory write-downs, partially offset by FX headwinds and input cost inflation.
Net income attributable to Herbalife was $49 million, with adjusted net income of $61 million and adjusted diluted EPS of $0.59, including an $0.11 FX headwind.
Net sales for Q2 2025 were $1.3 billion, down 1.7% year-over-year but flat on a constant currency basis.
Operating cash flow was strong at $96 million, and the company paid down $55 million in debt, maintaining a total leverage ratio of slightly under 3x as of June 30.
Dafinchi