Adjusted diluted earnings per share, excluding strategic initiative impacts, were $0.41 for Q2 2025.
Adjusted diluted earnings per share for the first half of 2025 were $0.87, compared to $0.87 in the same period of 2024.
Adjusted diluted earnings per share for the first half of 2025 were $0.87, compared to $0.87 in the same period of 2024 (or $0.94 excluding a 2024 reduction in force expense).
Cash and short-term investments totaled $101 million as of June 28, 2025, with no debt and a current ratio of 4.0:1.
Declared a $0.16 per share quarterly dividend for Q3 2025, approximately 40% of adjusted diluted earnings.
For Q2 2024, net sales were $130.8 million and diluted earnings were $0.47 per share.
For the first half of 2025, net sales totaled $268.2 million with a loss of $0.57 per share.
Generated $25.9 million cash from operations in the first half of 2025; capital expenditures were $6.7 million.
Generated $25.9 million cash from operations in the first half of 2025; capital expenditures were $6.7 million with expected increases in H2 2025.
Net sales for Q2 2025 were $132.5 million with a diluted loss of $1.05 per share.
Returned $23 million to shareholders in H1 2025 through dividends and share repurchases.
Returned $23 million to shareholders in the first half of 2025 through dividends and share repurchases.
Stockholders' equity was $289.3 million, equating to a book value of $17.82 per share.
Adjusted unallocated corporate expenses and software development costs declined 2.1% year-over-year.
Capital expenditures were $2.7 million, primarily for aircraft maintenance and software development.
Cash and short-term investments totaled $113.4 million at quarter-end with no debt.
Medical revenues rose 17.6% year-over-year to a record $45.1 million in Q2 2025, driven by new transplant center customers and strengthened demand from third-party service providers.
Medical segment adjusted EBITDA margin increased to 13.4% in Q2 2025 from 11.4% in Q1 2025 but declined 100 basis points compared to 14.4% in Q2 2024 due to elevated maintenance downtime and costs.
Passenger segment adjusted EBITDA tripled year-over-year from $0.8 million to $2.4 million.
Passenger segment adjusted SG&A expenses fell 17% year-over-year due to lower marketing spend, restructuring in Europe, and exit from Canada.
Passenger segment flight margin improved by 580 basis points year-over-year to 30.5% in Q2 2025, driven by margin expansion in short distance and Jet & Other segments.
Working capital increased by $7 million in Q2 2025, contributing to cash from operations being negative $3.1 million despite adjusted EBITDA of $3.2 million.
Dafinchi
