Yellow Pages Stock Earnings Reports

Yellow Pages reported Q2 2025 revenue of $51.7M, down 7.4% YoY but showing modest sequential improvement in the revenue decline rate. Digital revenue was $41.0M (-6.4% YoY) and print was $10.7M (-11.2% YoY). Management highlighted improving core customer metrics — decelerating customer-count decline, stable renewals, increased new customer acquisition and higher average spend per customer — which they say underpin medium- to long-term recovery prospects. Adjusted EBITDA was $10.7M (-27.7% YoY) and adjusted EBITDA margin fell to 20.7% from 26.5% a year ago; management cited product-mix shift, continued investments in sales capacity, and the revaluation of cash-settled stock-based compensation as primary drivers of margin pressure. The company completed a pension de-risking transaction (group annuity purchase ~ $209.9–$210M) that triggered a non-cash settlement loss of ~$4M; the board approved a voluntary pension contribution of $2M to be made by end-2025 (part of a planned $4M contribution by June 2026). Net income fell to $1.5M from $7.6M a year earlier. Cash on hand was approximately $49M at the end of July, headcount was reduced to 566 (down 6.1% YoY), and the Board declared a $0.25 per share dividend payable Sept 15, 2025 (record Aug 25). Management expects near-term margin pressure to continue but emphasizes stabilization in customer metrics as a foundation for future revenue improvement. No forward revenue or earnings guidance was provided on the call.