Short answer
Cannae Holdings (CNNE) filed its Q3 2025 10-Q quarterly report on Nov 10, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $107M (down 6.1% year over year) with net income of −$68M.
Q3 2025 key financials · XBRL
- Revenue
- $107M
- −6.1% YoY · −3.0% QoQ
- Net income
- −$68M
- −402.9% YoY · +71.4% QoQ
- Operating margin
- -12.3%
- EPS (diluted)
- −$1.37
- −372.4% YoY · +65.0% QoQ
Source: XBRL data from the Cannae Holdings (CNNE) Q3 2025 10-Q on SEC EDGAR. USD.
Cannae Holdings Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $106.9M Q3 2025, down 6.1% YoY from $113.9M Q3 2024; nine months down 6.5% to $320.3M vs $342.6M prior year
- Operating loss Q3 2025 $13.2M vs $18.1M loss Q3 2024; operating margin approx. -12.3% vs -15.9% YoY
- Best segment: BKFC equity earnings improved to $26.6M gain Q3 2025 vs $14.4M loss YoY; worst segment: Alight equity loss $81.7M Q3 2025 vs $6.6M loss YoY driven by goodwill impairment
- Cash impact: $59.1M impairment charge recorded on Alight investment in Q3; valuation allowance increased by $99M on deferred tax assets
- Management flagged material declines in comparable store sales (O'Charley's -13.6% Q3, -13.3% YTD), expecting negative impact on future sales and income
Risk Factors
- New proxy contest risk triggered by shareholder nomination effort for Board directors and influence at annual meeting
- Proxy contest cost expected at $5.9 million excluding regular salaries, increasing legal and advisory expenses
- Potential governance risk if dissident shareholders succeed, causing strategic changes and market, employee, customer unrest
- Operational distraction risk from management focus diverted by proxy contest, impacting regular business execution
- No disclosed changes related to financial liquidity, debt, currency exposure, or concentration risks in this filing
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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