Short answer
Cannae Holdings (CNNE) filed its Q1 2025 10-Q quarterly report on May 12, 2025 for the quarter ended Mar 31, 2025. Quarterly revenue was $103M (down 6.8% year over year) with net income of −$113M.
Q1 2025 key financials · XBRL
- Revenue
- $103M
- −6.8% YoY
- Net income
- −$113M
- −25.7% YoY
- Operating margin
- -20.7%
- EPS (diluted)
- −$1.81
- −42.5% YoY
Source: XBRL data from the Cannae Holdings (CNNE) Q1 2025 10-Q on SEC EDGAR. USD.
Cannae Holdings Q1 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $103.2M, down 6.8% YoY vs $110.7M in Q1 2024, driven by Restaurant Group decline
- Operating loss improved to $(21.4)M vs $(40.6)M YoY, margin approx. -20.7% vs -36.7% (calculated)
- Best segment: Black Knight Football revenues +35.3% to $71.3M (Dec 2024 period), operating loss reduced $13.5M
- Worst segment: Restaurant Group revenue down 6.9% to $99.1M, operating loss $(3.7)M vs $(3.1)M; cost of restaurant revenue ratio increased to 91.8% from 88.5%
- Operating cash flow or capital deployment changes not detailed; impairment of $68.1M on Dun & Bradstreet investment noted
- Management flags uncertainty with tax valuation allowances ($28.3M added), impairment risks on investments, and market/operational challenges impacting deferred tax assets and equity losses
Risk Factors
- New risk: Proxy contest initiated by shareholder to nominate directors, disrupting management focus and increasing legal/advisory costs
- Most materially updated risk: Potential change in Board/executive officers altering strategic direction, causing market volatility and operational disruptions
- Regulatory/legal risk: Public disputes with activist shareholders may damage reputation, strain investor relations, and raise future shareholder activism risk
- Operational risk: Proxy contest diverts Board/management from executing business strategy, risking employee loss and customer relationship disruption
- Financial risk: Incremental costs from proxy contest, including legal and advisory fees, adversely affecting financial condition
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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