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01/10 16:38
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Access earnings results, analyst expectations, report, slides, earnings call, and transcript.
The earnings call reflects a positive sentiment due to strong financial performance, strategic DSP partnerships, and growth in subscription revenue and ARPU. Despite some management vagueness, the optimistic guidance on EBITDA and platform revenue initiatives, combined with a focus on shareholder returns through buybacks, suggests a positive market reaction.
Revenue Revenue for Q3 2025 was $1.2 billion, up 15% year-over-year, driven by strong growth in advertising and device sales.
Gross Margin Gross margin was 48%, a decrease of 2 percentage points year-over-year, due to higher costs in content acquisition.
Operating Expenses Operating expenses increased to $500 million, up 10% year-over-year, primarily due to investments in R&D and marketing.
Net Income Net income was $100 million, compared to a net loss of $50 million in Q3 2024, reflecting improved operational efficiency and revenue growth.
Free Cash Flow Free cash flow was $150 million, an increase of 25% year-over-year, driven by higher revenue and better working capital management.
The selected topic was not discussed during the call.
Explicit Risks: Forward-looking statements are subject to risks and uncertainties, as mentioned in the shareholder letter and SEC filings. These risks could cause actual results to differ materially from projections.
Regulatory Risks: Potential risks associated with compliance and regulatory filings as highlighted in the SEC filings.
The selected topic was not discussed during the call.
The selected topic was not discussed during the call.
The earnings call reflects a positive sentiment due to strong financial performance, strategic DSP partnerships, and growth in subscription revenue and ARPU. Despite some management vagueness, the optimistic guidance on EBITDA and platform revenue initiatives, combined with a focus on shareholder returns through buybacks, suggests a positive market reaction.
All transcripts are sourced directly from the official live webcast or the company’s official investor relations website. We use the exact words spoken during the call with no paraphrasing of the core discussion.
Full verbatim transcripts are typically published within 4–12 hours after the call ends. Same-day availability is guaranteed for all S&P 500 and most mid-cap companies.
No material content is ever changed or summarized in the “Full Transcript” section. We only correct obvious spoken typos (e.g., “um”, “ah”, repeated 10 times”, or clear misspoken ticker symbols) and add speaker names/titles for readability. Every substantive sentence remains 100% as spoken.
When audio quality is poor or multiple speakers talk over each other, we mark the section instead of guessing. This ensures complete accuracy rather than introducing potential errors.
They are generated by a specialized financial-language model trained exclusively on 15+ years of earnings transcripts. The model extracts financial figures, guidance, and tone with 97%+ accuracy and is regularly validated against human analysts. The full raw transcript always remains available for verification.
