Alaska Air Group, Inc. (ALK) Reports Q2 2025 Results; Earnings Beat Expectations
A busy airport terminal with travelers queuing up for flights, revealing the sheer volumes of travelers served by the company.
On July 23, 2025, Alaska Air Group, Inc. (NYSE:ALK) released its Q2 2025 results. The company reported adjusted EPS of $1.78, which exceeded guidance. Strong premium class performance and a profitable quarter from its Hawaiian assets helped the company earn revenue of $3.7 billion. The adjusted net income for the quarter reached $215 million.
Ahead of the earnings release, UBS maintained its 'Neutral' rating and $49 price target, citing the growing optimism regarding the airline industry. Validating the analyst's optimism, Alaska Air Group, Inc. (NYSE:ALK)'s premium revenue grew 5% YoY, driving 35% of its total sales.
Looking ahead, Alaska Air Group, Inc. (NYSE:ALK) expects FY25 EPS of at least $3.25. This is attributed to the Alaska Accelerate initiative and continued synergy realization. Furthermore, its new loyalty program, premium credit card launch, expansion of international long-haul network from Seattle, and a 17-aircraft 787 fleet in the pipeline are cited as other key growth drivers.
While a softer macro demand was noted during the quarter, Alaska Air Group, Inc. (NYSE:ALK) expressed growing confidence due to recent booking upticks and capacity discipline, reaffirming its target of $10 EPS by 2027 and $1 billion in expected incremental profit.
With its Alaska Airlines, Hawaiian Airlines, and Regional segments, Alaska Air Group, Inc. (NYSE:ALK) offers air transportation services. It is included in our list of cheap travel stocks.
While we acknowledge the potential of ALK as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 11 Most Undervalued Cloud Stocks Under $10 According to Hedge Funds and 11 Best Mineral Stocks to Buy According to Hedge Funds.
Disclosure: None.
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Wix Reports Second Quarter 2025 Results
Meaningful improvement in business fundamentals driving confidence in 2H y/y bookings and revenue growth acceleration Q2 new cohort bookings grew 14% y/y and new cohorts continue to pick up momentum with new cohort bookings exiting July achieving 20%+ y/y growth Top of funnel strength compounded by improved y/y conversion across key markets, including the U.S., U.K., and Europe Milestone acquisition of Base44 significantly expands Wix's total addressable market opportunity to include application development, with the Wix ecosystem a natural complement to vibe coding broadly Driven by tremendous demand, Base44 is on track to reach $40 to $50 million of ARR by year-end as it accelerates towards the $100 million of ARR milestoneNEW YORK – Ltd. (Nasdaq: WIX) (the 'Company'), the leading SaaS website builder platform1, today reported financial results for the second quarter of 2025. In addition, the Company provided its outlook for the third quarter and an updated outlook for full year 2025. Please visit the Wix Investor Relations website at to view the Q2'25 Shareholder Update and other materials. 'Demand for AI-powered online creation continues to accelerate, and Wix is leading the way as more people use our platform to build sophisticated, high-quality projects with greater speed and ease. This ongoing momentum drove our new cohort bookings to their highest levels since peak-COVID, setting the stage for continued growth in the second half of the year and beyond,' said Avishai Abrahami, Co-founder and CEO at Wix. 'Looking ahead, we're thinking bigger – not just transforming website building, but unlocking new markets enabled by AI, such as vibe coding. Our acquisition of Base44 represents another major expansion into this future, giving us immediate access to the application development market and new audiences ready to build and scale applications. We're already seeing extraordinary early momentum, with Base44 expected to grow ARR from just a few million in June to $40 to $50 million by the end of 2025, as Base44 accelerates towards a milestone of $100 million of ARR. We're laying the foundation for the next era of creation – visual-first editing for simplicity and speed coupled with AI-powered coding capabilities for flexibility and depth, empowering users to create and build in ways not previously possible.' Nir Zohar, President & Co-founder at Wix, continued, 'Our business fundamentals continued to improve in the second quarter with robust top of funnel demand, better conversion across our largest markets and improved monetization as recently launched AI tools began to bear fruit. As a result, we saw new user cohort bookings growth accelerated above Q1's post-COVID high watermark. Even more encouragingly, these positive trends continued into early Q3 with new user cohort bookings growing more than 20% y/y exiting July – a level of strength we haven't seen since peak-COVID. This more than 20% growth excludes the impact from Base44. Including Base44 cohorts, new cohort growth would have accelerated more significantly in early Q3.' Lior Shemesh, CFO at Wix, added, 'We expect these increasingly stronger new cohorts layering onto the platform plus growing contribution from the recent Q1 and Q2 cohorts to be the primary drivers of our expected 2H top-line growth acceleration. As a result of robust performance in our core business YTD along with contribution from Base44, we are increasing our full year expectations. More excitingly, the cohort strength we're generating today, products we're innovating and new TAMs we're entering, are laying the foundation for robust growth in 2026 and beyond.' Q2 2025 Financial Results Total revenue in the second quarter of 2025 was $489.9 million, up 12% y/y Creative Subscriptions revenue in the second quarter of 2025 was $345.5 million, up 11% y/y Creative Subscriptions ARR increased to $1.407 billion as of the end of the quarter, up 10% y/y Business Solutions revenue in the second quarter of 2025 was $144.5 million, up 17% y/y Transaction revenue2 in the second quarter of 2025 was $63.6 million, up 18% y/y Partners revenue3 in the second quarter of 2025 was $183.3 million, up 24% y/y Total bookings in the second quarter of 2025 were $509.9 million, up 11% y/y Creative Subscriptions bookings in the second quarter of 2025 were $364.9 million, up 11% y/y Business Solutions bookings in the second quarter of 2025 were $145.1 million, up 12% y/y Total gross margin on a GAAP basis in the second quarter of 2025 was 69% Creative Subscriptions gross margin on a GAAP basis was 84% Business Solutions gross margin on a GAAP basis was 31% Total non-GAAP gross margin in the second quarter of 2025 was 70% Creative Subscriptions gross margin on a non-GAAP basis was 85% Business Solutions gross margin on a non-GAAP basis was 33% GAAP net income in the second quarter of 2025 was $57.7 million, or $1.03 per basic share and $0.98 per diluted share Non-GAAP net income in the second quarter of 2025 was $136.2 million, or $2.44 per basic share and $2.28 per diluted share Net cash provided by operating activities for the second quarter of 2025 was $150.3 million, while capital expenditures totaled $2.7 million, leading to free cash flow of $147.7 million In Q2'25, we executed $100 million of share repurchases, repurchasing approximately 646 thousand Wix ordinary shares in total at an approximate volume-weighted average price per share of $154.69 Total employee count at the end of Q2'25 was 5,326 ____________________1 Based on number of active live sites as reported by competitors' figures, independent third-party data and internal data as of Q1 2025.2 Transaction revenue is a portion of Business Solutions revenue, and we define transaction revenue as all revenue generated through transaction facilitation, primarily from Wix Payments, as well as Wix POS, shipping solutions and multi-channel commerce and gift card solutions. 3 Partners revenue is defined as revenue generated through agencies and freelancers that build sites or applications for other users ('Agencies') as well as revenue generated through B2B partnerships, such as LegalZoom or Vistaprint ('Resellers'). We identify Agencies using multiple criteria, including but not limited to, the number of sites built, participation in the Wix Partner Program and/or the Wix Marketplace or Wix products used (incl. Wix Studio). Partners revenue includes revenue from both the Creative Subscriptions and Business Solutions businesses. Financial Outlook Our strong first-half performance reinforces our confidence in accelerating growth throughout the remainder of 2025, supported by a stable and positive macroeconomic environment. Strong momentum in the core Wix business, driven by new cohort outperformance, is further bolstered by our entry into a new rapidly-growing TAM through our recent acquisition of Base44. As a result, we are raising our full year bookings outlook to $2,040 - $2,075 million, or 11-13% y/y growth, compared to $2,025 - $2,060 million previously. This increased expectation assumes a continued upwards trend in new cohort behavior, contribution from Base44 and current FX rates. We continue to anticipate an acceleration in bookings growth in 2H, driven mainly by improving business fundamentals. We expect: Increasingly stronger new cohorts layering onto the platform and contributing more incremental bookings dollars compared to the new cohorts of 2024 in their first respective quarters. Increased top of funnel demand, improved conversion in our largest geographic markets, larger mix of higher intent users and a shift to longer-duration subscriptions drove new cohort bookings growth in Q2 to accelerate. Encouragingly, new cohort bookings growth has continued to accelerate through July, and we expect this upwards trend to continue in 2H. Stronger new cohorts as well as increasing contribution from the recent Q1 and Q2 cohorts layering on are expected to drive the majority of the acceleration. Contribution from Base44 Targeted pricing optimizations in select geographies, as previously planned Increasing contribution from Studio cohorts as new users layer on and earlier users mature, build multiple websites and increasingly contribute bookings Ramping benefit from AI products We are updating our full year revenue outlook to $1,975 - 2,000 million, up 12-14% y/y, compared to the prior outlook of $1,970 - 2,000 million. We continue to anticipate revenue growth acceleration in 2H. We expect total revenue in Q3 2025 to be $498 - 504 million, up 12-13% y/y. For the full year 2025, we now expect non-GAAP total gross margin of ~69% and non-GAAP operating expenses to be ~49% of revenue. This reflects higher cost of revenue and operating expenses than previously anticipated as a result of incremental ongoing AI, marketing and headcount investments we plan to make to operate, integrate and grow Base44. With higher bookings expectations offsetting these increased costs, we now expect to generate free cash flow of $595 - $610 million in 2025, or 30-31% of revenue. Conference Call and Webcast Information Wix will host a conference call to discuss the results at 8:30 a.m. ET on Wednesday, August 6, 2025. A live and archived webcast of the conference call will be accessible from the "Investor Relations" section of the Company's website at About Ltd. Wix is a leading global platform for creating, managing, and growing a complete digital presence. Founded in 2006, Wix empowers millions of users, including self-creators, agencies, enterprises and more, with industry-leading infrastructure, performance and security. The platform combines advanced AI, flexible design and robust business and commerce solutions to help users build stronger brands, connect with their audiences and scale their businesses online. Wix is shaping the future of how digital experiences are built, with its intuitive AI-powered website builder and no-code application creation through Base44, making sophisticated creation accessible to all. For more about Wix, please visit our Press RoomMedia Relations Contact: PR@ Non-GAAP Financial Measures and Key Operating Metrics To supplement its consolidated financial statements, which are prepared and presented in accordance with U.S. GAAP, Wix uses the following non-GAAP financial measures: bookings, cumulative cohort bookings, bookings on a constant currency basis, revenue on a constant currency basis, non-GAAP gross margin, non-GAAP operating income (loss), non-GAAP operating margin, non-GAAP net income (loss), non-GAAP net income (loss) per share, free cash flow, free cash flow on a constant currency basis, free cash flow, as adjusted, free cash flow margins, non-GAAP R&D expenses, non-GAAP S&M expenses, non-GAAP G&A expenses, non-GAAP operating expenses, non-GAAP cost of revenue expense, non-GAAP financial expense, non-GAAP tax expense (collectively the "Non-GAAP financial measures"). Measures presented on a constant currency or foreign exchange neutral basis have been adjusted to exclude the effect of y/y changes in foreign currency exchange rate fluctuations. Bookings is a non-GAAP financial measure calculated by adding the change in deferred revenues and the change in unbilled contractual obligations for a particular period to revenues for the same period. Bookings include cash receipts for premium subscriptions purchased by users as well as cash we collect from business solutions, as well as payments due to us under the terms of contractual agreements for which we may have not yet received payment. Cash receipts for premium subscriptions are deferred and recognized as revenues over the terms of the subscriptions. Cash receipts for payments and the majority of the additional products and services (other than Google Workspace) are recognized as revenues upon receipt. Committed payments are recognized as revenue as we fulfill our obligation under the terms of the contractual agreement. Bookings and Creative Subscriptions Bookings are also presented on a further non-GAAP basis by excluding, in each case, bookings associated with long-term B2B partnership agreements. Non-GAAP gross margin represents gross profit calculated in accordance with GAAP as adjusted for the impact of share-based compensation expense, acquisition-related expenses and amortization, divided by revenue. Non-GAAP operating income (loss) represents operating income (loss) calculated in accordance with GAAP as adjusted for the impact of share-based compensation expense, amortization, acquisition-related expenses and sales tax expense accrual and other G&A expenses (income). Non-GAAP net income (loss) represents net loss calculated in accordance with GAAP as adjusted for the impact of share-based compensation expense, amortization, sales tax expense accrual and other G&A expenses (income), amortization of debt discount and debt issuance costs and acquisition-related expenses and non-operating foreign exchange expenses (income). Non-GAAP net income (loss) per share represents non-GAAP net income (loss) divided by the weighted average number of shares used in computing GAAP loss per share. Free cash flow represents net cash provided by (used in) operating activities less capital expenditures. Free cash flow, as adjusted, represents free cash flow further adjusted to exclude one-time cash restructuring charges and the capital expenditures and other expenses associated with the buildout of our new corporate headquarters. Free cash flow margins represent free cash flow divided by revenue. Non-GAAP cost of revenue represents cost of revenue calculated in accordance with GAAP as adjusted for the impact of share-based compensation expense, acquisition-related expenses and amortization. Non-GAAP R&D expenses represent R&D expenses calculated in accordance with GAAP as adjusted for the impact of share-based compensation expense, acquisition-related expenses and amortization. Non-GAAP S&M expenses represent S&M expenses calculated in accordance with GAAP as adjusted for the impact of share-based compensation expense, acquisition-related expenses and amortization. Non-GAAP G&A expenses represent G&A expenses calculated in accordance with GAAP as adjusted for the impact of share-based compensation expense, acquisition-related expenses and amortization. Non-GAAP operating expenses represent operating expenses calculated in accordance with GAAP as adjusted for the impact of share-based compensation expense, acquisition-related expenses and amortization. Non-GAAP financial expense represents financial expense calculated in accordance with GAAP as adjusted for unrealized gains of equity investments, amortization of debt discount and debt issuance costs and non-operating foreign exchange expenses. Non-GAAP tax expense represents tax expense calculated in accordance with GAAP as adjusted for provisions for income tax effects related to non-GAAP adjustments. The presentation of this financial information is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. The Company uses these non-GAAP financial measures for financial and operational decision making and as a means to evaluate period-to-period comparisons. The Company believes that these measures provide useful information about operating results, enhance the overall understanding of past financial performance and future prospects, and allow for greater transparency with respect to key metrics used by management in its financial and operational decision making. For more information on the non-GAAP financial measures, please see the reconciliation tables provided below. The accompanying tables have more details on the GAAP financial measures that are most directly comparable to non-GAAP financial measures and the related reconciliations between these financial measures. The Company is unable to provide reconciliations of free cash flow, free cash flow margin, free cash flow, as adjusted, bookings, cumulative cohort bookings, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating expenses as a percentage of revenue, and non-GAAP tax expense to their most directly comparable GAAP financial measures on a forward-looking basis without unreasonable effort because items that impact those GAAP financial measures are out of the Company's control and/or cannot be reasonably predicted. Such information may have a significant, and potentially unpredictable, impact on our future financial results. Wix also uses Creative Subscriptions Annualized Recurring Revenue (ARR) as a key operating metric. Creative Subscriptions ARR is calculated as Creative Subscriptions Monthly Recurring Revenue (MRR) multiplied by 12. Creative Subscriptions MRR is calculated as the total of (i) the total monthly revenue of all Creative Subscriptions in effect on the last day of the period, other than domain registrations; (ii) the average revenue per month from domain registrations multiplied by all registered domains in effect on the last day of the period; and (iii) monthly revenue from other partnership agreements including enterprise partners. Forward-Looking Statements This document contains forward-looking statements, within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. Such forward-looking statements may include projections regarding our future performance, including, but not limited to revenue, bookings and free cash flow, and may be identified by words like 'anticipate,' 'assume,' 'believe,' 'aim,' 'forecast,' 'indication,' 'continue,' 'could,' 'estimate,' 'expect,' 'intend,' 'may,' 'plan,' 'potential,' 'predict,' 'subject,' 'project,' 'outlook,' 'future,' 'will,' 'seek' and similar terms or phrases. The forward-looking statements contained in this document, including the quarterly and annual guidance, are based on management's current expectations, which are subject to uncertainty, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Important factors that could cause our actual results to differ materially from those indicated in the forward-looking statements include, among others, our ability to attract and retain registered users and partners, and generate new premium subscriptions and additional business solutions as we continuously adjust our marketing strategy and customer care; maintenance of our brand and reputation, and generation of revenue from sources other than premium subscriptions; risks associated with international operations and the use of platform in various countries; risks related to the macroeconomic environment and ongoing global conflicts; security risks and payment risks and fluctuations in foreign currency exchange rates; failures of third-party hardware, software and infrastructure on which we rely, or failure to manage the operation of our infrastructure; adverse market conditions, including inflation, interest rates and other adverse developments that may adversely affect our cash balances and investment portfolio; our history of operating losses and inability to achieve sustained profitability; downturns or upturns in sales are not immediately reflected in full in our operating results; our ability to repurchase our ordinary shares and/or 0.00% Convertible Senior Notes due 2025 pursuant to our repurchase program; our ability to raise capital when needed or on acceptable terms; risks related to acquisitions and investments, pricing decisions, pandemics, natural disasters and other catastrophic events; our ability to develop and introduce new products and services, as well as maintain third-party products and are ability to keep up with rapid changes in design and technology; our ability to attract and retain qualified employees and key personnel; our ability to attract a diversified customer base and increased competition; our ability to maintain compatibility of our platform and solutions with changes in third-party applications and changes to technologies used in our solutions; our ability to acquire and service small business users; risks related to security breaches and unauthorized access to data, cyberattacks; our expectation regarding the uncertain future relationship between the United States and other countries with respect to trade policies, taxes, government regulations, and tariffs; our ability to comply with the regulations applicable to our operations, including new governmental regulations regarding the internet, consumer protection, artificial intelligence ('AI'), privacy and data protection laws and regulations, as well as contractual privacy and data protection obligations; risks relating to intellectual property, including infringements, litigation and claims, and our ability to maintain and protect our intellectual property rights and proprietary information; our expectations regarding the outcome of any regulatory investigation or litigation, including class actions; risks related to the development and integration of AI, generative AI, agentic AI, machine learning, and similar tools into our offerings, and comply with the regulatory environment impacting AI and AI-related activities; risks related to activities of registered users or content of their websites, and risks related to domain names and industry regulations; risks related to compliance with laws and regulations, including those related to economic sanctions, tariffs, export controls, anti-corruption and anti-money laundering, anti-trust, and consumer protection, and changes in these laws and regulations; risks related to tax, including application of indirect taxes, tax laws, changes in tax laws or changes in provision for income tax and examination of income tax returns; risks related to ordinary shares, activist shareholders, and our status as a foreign private issuer; risks related to our incorporation and location in Israel, including conflicts in the area; our expectations regarding future changes in our cost of revenues and our operating expenses on an absolute basis and as a percentage of our revenues; our planned level of capital expenditures and our belief that our existing cash and cash from operations will be sufficient to fund our operations for at least the next 12 months and for the foreseeable future; and our ability to enter into new markets and attracting new customer demographics, including our ability to successfully attract new partners and large enterprise-level users and to grow our activities, including through the adoption of our Wix Studio product, with these customer types as anticipated and other factors discussed under the heading 'Risk Factors' in the Company's annual report on Form 20-F for the year ended December 31, 2024 filed with the Securities and Exchange Commission on March 21, 2025. The preceding list is not intended to be an exhaustive list of all of our forward-looking statements. Any forward-looking statement made by us in this press release speaks only as of the date hereof. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or Ltd. CONSOLIDATED STATEMENTS OF OPERATIONS - GAAP (In thousands, except loss per share data) Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 (unaudited) (unaudited) Revenues Creative Subscriptions $ 345,456 $ 312,125 $ 683,132 $ 616,418 Business Solutions 144,474 123,621 280,449 239,104 489,930 435,746 963,581 855,522 Cost of Revenues Creative Subscriptions 54,131 53,039 110,198 107,842 Business Solutions 99,209 88,635 194,934 171,129 153,340 141,674 305,132 278,971 Gross Profit 336,590 294,072 658,449 576,551 Operating expenses: Research and development 134,735 119,257 262,232 243,502 Selling and marketing 113,155 102,498 224,718 209,732 General and administrative 44,394 43,712 89,788 85,042 Total operating expenses 292,284 265,467 576,738 538,276 Operating income 44,306 28,605 81,711 38,275 Financial income (expenses), net (38,377 ) 12,383 (32,545 ) 31,267 Other income, net 123 38 187 249 Income (loss) before taxes on income 6,052 41,026 49,353 69,791 Income tax expenses (benefit) (51,651 ) 1,508 (42,116 ) 6,271 Net income $ 57,703 $ 39,518 $ 91,469 $ 63,520 Basic net income per share $ 1.03 $ 0.71 $ 1.64 $ 1.14 Basic weighted-average shares used to compute net income per share 55,905,451 55,361,595 55,807,604 55,730,296 Diluted net income per share $ 0.98 $ 0.68 $ 1.55 $ 1.09 Diluted weighted-average shares used to compute net income per share 59,650,008 59,526,418 60,017,802 58,373,454 Ltd. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) Period ended June 30, December 31, 2025 2024 Assets (unaudited) (audited) Current Assets: Cash and cash equivalents $ 693,042 $ 660,939 Restricted cash 11,100 - Short-term deposits 111,892 106,844 Restricted deposits 901 773 Marketable securities 310,061 338,593 Trade receivables 55,354 44,674 Prepaid expenses and other current assets 95,975 128,577 Total current assets 1,278,325 1,280,400 Long-Term Assets: Prepaid expenses and other long-term assets 32,934 27,021 Property and equipment, net 121,715 128,155 Deferred tax asset 70,325 - Marketable securities 5,259 6,135 Intangible assets, net 21,935 22,141 Goodwill 72,084 49,329 Operating lease right-of-use assets 393,460 399,861 Total long-term assets 717,712 632,642 Total assets $ 1,996,037 $ 1,913,042 Liabilities and Shareholders' Deficiency Current Liabilities: Trade payables $ 25,237 $ 47,077 Employees and payroll accruals 100,742 143,131 Deferred revenues 715,705 661,171 Current portion of convertible notes, net 574,469 572,880 Accrued expenses and other current liabilities 132,938 63,246 Operating lease liabilities 32,806 27,907 Total current liabilities 1,581,897 1,515,412 Long Term Liabilities: Deferred revenues 105,331 89,271 Deferred tax liability 5,150 1,965 Convertible notes, net - - Other long-term liabilities 28,561 16,021 Operating lease liabilities 392,761 369,159 Total long-term liabilities 531,803 476,416 Total liabilities 2,113,700 1,991,828 Shareholders' Deficiency Ordinary shares 106 107 Additional paid-in capital 1,988,990 1,840,574 Treasury shares (1,325,163 ) (1,025,167 ) Accumulated other comprehensive loss 28,477 7,242 Accumulated deficit (810,073 ) (901,542 ) Total shareholders' deficiency (117,663 ) (78,786 ) Total liabilities and shareholders' deficiency $ 1,996,037 $ 1,913,042 Ltd. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 (unaudited) (unaudited) OPERATING ACTIVITIES: Net income $ 57,703 $ 39,518 $ 91,469 $ 63,520 Adjustments to reconcile net loss to net cash provided by operating activities: Depreciation 6,099 6,427 12,236 12,869 Amortization 1,246 1,465 2,707 2,948 Share based compensation expenses 59,439 59,886 119,700 118,028 Amortization of debt discount and debt issuance costs 795 791 1,589 1,581 Changes in accrued interest and exchange rate on short term and long term deposits 126 890 (98 ) 1,770 Amortization of premium and discount and accrued interest on marketable securities, net (24,409 ) 3,937 (20,852 ) 4,534 Remeasurement gain on Marketable equity - - - (3,367 ) Changes in deferred income taxes, net (64,817 ) (208 ) (64,816 ) (5,219 ) Changes in operating lease right-of-use assets 4,800 5,286 9,603 10,310 Changes in operating lease liabilities 34,062 (7,860 ) 25,299 (11,512 ) Loss (gain) on foreign exchange, net (3,832 ) 1,598 (5,838 ) 2,151 Decrease (increase) in trade receivables (7,956 ) 491 (10,610 ) 1,610 Decrease (increase) in prepaid expenses and other current and long-term assets (6,090 ) (28,195 ) 52,199 (40,763 ) Decrease in trade payables (12,581 ) (14,502 ) (21,919 ) (16,625 ) Increase (decrease) in employees and payroll accruals 21,409 13,690 (42,739 ) 11,261 Increase in short term and long term deferred revenues 26,211 25,426 70,573 66,745 Increase in accrued expenses and other current liabilities 58,130 11,389 77,323 14,024 Net cash provided by operating activities 150,335 120,029 295,826 233,865 INVESTING ACTIVITIES: Proceeds from short-term deposits and restricted deposits - 162 107,780 985 Investment in short-term deposits and restricted deposits - (11 ) (112,810 ) (30,173 ) Proceeds from available-for-sale marketable debt securities 20,700 38,350 51,300 91,155 Investment in trading marketable debt securities (163,313 ) (163,698 ) (191,006 ) (191,545 ) Proceed from trading marketable debt securities 162,525 - 190,217 - Purchase of property and equipment and lease prepayment (2,265 ) (6,871 ) (4,894 ) (14,586 ) Capitalization of internal use of software (405 ) (324 ) (826 ) (734 ) Proceeds from (investment in) other assets (10,458 ) 550 (10,458 ) 550 Proceeds from sale of equity securities - - - 22,148 Payment for Businesses acquired, net of acquired cash (18,545 ) - (18,545 ) - Proceed from realization of investments in privately held companies - - 417 - Purchases of investments in privately held companies (2,358 ) (460 ) (3,108 ) (1,010 ) Net cash used in investing activities (14,119 ) (132,302 ) 8,067 (123,210 ) FINANCING ACTIVITIES: Proceeds from exercise of options and ESPP shares 360 1,615 23,014 24,243 Purchase of treasury stock (100,000 ) (225,000 ) (300,000 ) (466,302 ) Net cash used in financing activities (99,640 ) (223,385 ) (276,986 ) (442,059 ) Effect of exchange rates on cash, cash equivalent and restricted cash 14,290 (1,598 ) 16,296 (2,151 ) INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 50,866 (237,256 ) 43,203 (333,555 ) CASH, CASH EQUIVALENTS AND RESTRICTED CASH—Beginning of period 653,276 513,323 660,939 609,622 CASH, CASH EQUIVALENTS AND RESTRICTED CASH—End of period $ 704,142 $ 276,067 $ 704,142 $ 276,067 Ltd. KEY PERFORMANCE METRICS (In thousands) Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 (unaudited) (unaudited) Creative Subscriptions 345,456 312,125 683,132 616,418 Business Solutions 144,474 123,621 280,449 239,104 Total Revenues $ 489,930 $ 435,746 $ 963,581 $ 855,522 Creative Subscriptions 364,871 328,967 734,340 663,604 Business Solutions 145,053 129,432 286,489 252,076 Total Bookings $ 509,924 $ 458,399 $ 1,020,829 $ 915,680 Free Cash Flow $ 147,665 $ 112,834 $ 290,106 $ 218,545 Free Cash Flow excluding HQ build out $ 147,665 $ 117,797 $ 290,106 $ 228,870 Creative Subscriptions ARR $ 1,406,739 $ 1,276,493 $ 1,406,739 $ 1,276,493 Ltd. RECONCILIATION OF REVENUES TO BOOKINGS (In thousands) Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 (unaudited) (unaudited) Revenues $ 489,930 $ 435,746 $ 963,581 $ 855,522 Change in deferred revenues 26,232 25,426 70,594 66,745 Change in unbilled contractual obligations (6,238 ) (2,773 ) (13,346 ) (6,587 ) Bookings $ 509,924 $ 458,399 $ 1,020,829 $ 915,680 Y/Y growth 11 % 11 % Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 (unaudited) (unaudited) Creative Subscriptions Revenues $ 345,456 $ 312,125 $ 683,132 $ 616,418 Change in deferred revenues 25,653 19,615 64,554 53,773 Change in unbilled contractual obligations (6,238 ) (2,773 ) (13,346 ) (6,587 ) Creative Subscriptions Bookings $ 364,871 $ 328,967 $ 734,340 $ 663,604 Y/Y growth 11 % 11 % Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 (unaudited) (unaudited) Business Solutions Revenues $ 144,474 $ 123,621 $ 280,449 $ 239,104 Change in deferred revenues 579 5,811 6,040 12,972 Business Solutions Bookings $ 145,053 $ 129,432 $ 286,489 $ 252,076 Y/Y growth 12 % 14 % Ltd. RECONCILIATION OF COHORT BOOKINGS (In millions) Six Months Ended June 30, 2025 2024 (unaudited) Q1 Cohort revenues $ 21 $ 21 Q1 Change in deferred revenues 26 22 Q1 Cohort Bookings $ 47 $ 43 Ltd. RECONCILIATION OF REVENUES AND BOOKINGS EXCLUDING FX IMPACT (In thousands) Three Months Ended June 30, 2025 2024 (unaudited) Revenues $ 489,930 $ 435,746 FX impact on Q2/25 using Y/Y rates (1,636 ) - Revenues excluding FX impact $ 488,294 $ 435,746 Y/Y growth 12 % Three Months Ended June 30, 2025 2024 (unaudited) Bookings $ 509,924 $ 458,399 FX impact on Q2/25 using Y/Y rates (5,560 ) - Bookings excluding FX impact $ 504,364 $ 458,399 Y/Y growth 10 % Ltd. TOTAL ADJUSTMENTS GAAP TO NON-GAAP (In thousands) Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 (1) Share based compensation expenses: (unaudited) (unaudited) Cost of revenues $ 3,472 $ 3,516 $ 6,792 $ 7,106 Research and development 32,098 30,782 63,589 61,884 Selling and marketing 9,046 9,206 18,223 19,689 General and administrative 14,823 16,382 31,096 29,349 Total share based compensation expenses 59,439 59,886 119,700 118,028 (2) Amortization 1,259 1,465 2,731 2,948 (3) Acquisition related expenses 6,087 1 6,087 6 (4) Amortization of debt discount and debt issuance costs 795 791 1,589 1,581 (5) Sales tax accrual and other G&A expenses (938 ) 237 (239 ) 358 (6) Unrealized loss (gain) on equity and other investments - 831 (42 ) (2,536 ) (7) Non-operating foreign exchange income 11,902 (2,921 ) 8,823 (7,584 ) (8) Provision for income tax effects related to non-GAAP adjustments - (191 ) - 583 Total adjustments of GAAP to Non GAAP $ 78,544 $ 60,099 $ 138,649 $ 113,384 Ltd. RECONCILIATION OF GAAP TO NON-GAAP GROSS PROFIT (In thousands) Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 (unaudited) (unaudited) Gross Profit $ 336,590 $ 294,072 $ 658,449 $ 576,551 Share based compensation expenses 3,472 3,516 6,792 7,106 Acquisition related expenses 163 - 163 - Amortization 668 668 1,335 1,335 Non GAAP Gross Profit 340,893 298,256 666,739 584,992 Non GAAP Gross margin 70 % 68 % 69 % 68 % Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 (unaudited) (unaudited) Gross Profit - Creative Subscriptions $ 291,325 $ 259,086 $ 572,934 $ 508,576 Share based compensation expenses 2,442 2,519 4,809 5,188 Acquisition related expenses 163 - 163 - Non GAAP Gross Profit - Creative Subscriptions 293,930 261,605 577,906 513,764 Non GAAP Gross margin - Creative Subscriptions 85 % 84 % 85 % 83 % Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 (unaudited) (unaudited) Gross Profit - Business Solutions $ 45,265 $ 34,986 $ 85,515 $ 67,975 Share based compensation expenses 1,030 997 1,983 1,918 Amortization 668 668 1,335 1,335 Non GAAP Gross Profit - Business Solutions 46,963 36,651 88,833 71,228 Non GAAP Gross margin - Business Solutions 33 % 30 % 32 % 30 % Ltd. RECONCILIATION OF OPERATING INCOME TO NON-GAAP OPERATING INCOME (In thousands) Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 (unaudited) (unaudited) Operating income $ 44,306 $ 28,605 $ 81,711 $ 38,275 Adjustments: Share based compensation expenses 59,439 59,886 119,700 118,028 Amortization 1,259 1,465 2,731 2,948 Sales tax accrual and other G&A expenses (938 ) 237 (239 ) 358 Acquisition related expenses 6,087 1 6,087 6 Total adjustments $ 65,847 $ 61,589 $ 128,279 $ 121,340 Non GAAP operating income $ 110,153 $ 90,194 $ 209,990 $ 159,615 Non GAAP operating margin 22 % 21 % 22 % 19 % Ltd. RECONCILIATION OF NET INCOME TO NON-GAAP NET INCOME AND NON-GAAP NET INCOME PER SHARE (In thousands, except per share data) Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 (unaudited) (unaudited) Net income $ 57,703 $ 39,518 $ 91,469 $ 63,520 Share based compensation expenses and other Non GAAP adjustments 78,544 60,099 138,649 113,384 Non-GAAP net income $ 136,247 $ 99,617 $ 230,118 $ 176,904 Basic Non GAAP net income per share $ 2.44 $ 1.80 $ 4.12 $ 3.17 Weighted average shares used in computing basic Non GAAP net income per share 55,905,451 55,361,595 55,807,604 55,730,296 Diluted Non GAAP net income per share $ 2.28 $ 1.67 $ 3.83 $ 2.96 Weighted average shares used in computing diluted Non GAAP net income per share 59,650,008 59,526,418 60,017,802 59,800,202 Ltd. RECONCILIATION OF NET CASH PROVIDED BY OPERATING ACTIVITIES TO FREE CASH FLOW (In thousands) Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 (unaudited) (unaudited) Net cash provided by operating activities $ 150,335 $ 120,029 $ 295,826 $ 233,865 Capital expenditures, net (2,670 ) (7,195 ) (5,720 ) (15,320 ) Free Cash Flow $ 147,665 $ 112,834 $ 290,106 $ 218,545 Capex related to HQ build out - 4,963 - 10,325 Free Cash Flow excluding HQ build out $ 147,665 $ 117,797 $ 290,106 $ 228,870 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
23 minutes ago
- Yahoo
Up to three-hour delays expected at Woodlands, Tuas as ICA flags National Day weekend traffic surge
SINGAPORE, Aug 6 — Travellers from Singapore who are heading to Malaysia over the upcoming National Day weekend should brace for heavy traffic and longer immigration clearance times at land checkpoints, the Immigration and Checkpoints Authority (ICA) said yesterday, according to CNA. From August 8 to 10 — coinciding with the National Day public holiday on Saturday, August 9 — congestion is expected at both Woodlands and Tuas checkpoints. ICA urged travellers to check real-time traffic updates before starting their journey, CNA reported. For those who must travel during peak periods, ICA suggested using cross-border bus services to avoid lengthy jams. 'We seek travellers' understanding to cooperate with ICA officers, observe traffic rules and maintain lane discipline,' the authority said, warning it would take action against those who ignore instructions, CNA wrote. The advisory follows record-breaking traffic volumes in June. During the school holidays, an average of more than 525,000 travellers crossed daily via the two land checkpoints — nearly 10 per cent more than in the same period last year. On June 20, a new single-day high of 578,000 crossings was recorded, surpassing the previous peak of over 562,000 set last December, CNA noted. According to ICA, car travellers departing during peak hours in June faced waits of up to three hours for immigration clearance, largely due to traffic tailbacks from the Malaysian side. With the upcoming long weekend likely to draw similar or heavier traffic, ICA's advice is clear: plan ahead, consider alternative transport, and be prepared for delays.
Wall Street Journal
27 minutes ago
- Wall Street Journal
Corn Futures Hit Lowest Price Since 2020
Expectations for a record U.S. crop and big harvests in other growing regions have pushed down corn futures to their lowest price since autumn 2020, when they were climbing back from the Covid slump. U.S. farmers planted a lot of corn this year at the expense of soybeans, the price of which tumbled the last time President Trump was in the White House. China retaliated to Trump's 2018 tariffs by buying far fewer U.S. soybeans, which lost about 20% and prompted a similar shift to corn. Growers and grain traders are waiting to see if China acts similarly this summer as trade talks continue.
