What happened
Mobility Global Inc. (NYSE: MBGL) reported third-quarter revenue of $478 million, up 7.4% from a year earlier. Net income fell to $42 million.
That compares with $71 million a year earlier. Diluted earnings per share dropped to $0.14 from $0.24, and operating profit fell 12% to $92 million. It was the company's first full quarter as a standalone public company after its separation from S&P Global.
Both segments grew. CARFAX revenue rose 8% to $313 million and B2B revenue rose 6% to $164 million. Adjusted EBITDA, a non-GAAP measure, rose 2% to $195 million, a 41% margin. It includes standalone public company costs for the first time.
Explain the financial terms
A fiscal quarter is a three-month period in the company's reporting year.
Why it matters
Revenue grew while profit shrank. OptimistFi's calculation puts net margin at 8.8%, down from 16.0% a year earlier. Selling and general expenses rose 50% to $203 million. Interest expense and other, net reached $26 million from $4 million. Separation transaction costs were $16 million, up from $3 million.
OptimistFi has argued that MBGL's value depends on turning the former S&P Global Mobility assets into recurring, cash-generative demand. Subscription revenue rose 7% to $389 million. Free cash flow rose to $186 million from $136 million. That supports the view, but the earnings decline leaves the picture mixed.
The cash figure has a caveat. Net changes in other operating assets and liabilities added $98 million to operating cash flow, against $11 million a year earlier.
What's next
Management hosts a call at 8 a.m. EST on Nov. 12 to discuss the results. The board declared a $0.06 dividend payable Dec. 14 to holders of record on Nov. 30.
The company expects to begin repurchases before the end of 2026. It targets $350 million to $450 million by the end of 2027, depending on market conditions. The program is authorized up to $800 million.
Full-year 2026 adjusted EBITDA guidance is now $750 million to $760 million, up from $745 million to $760 million. Repurchases that start on schedule would strengthen the case. Another quarter of falling diluted earnings per share would weaken it.
Explain the financial terms
A fiscal quarter is a three-month period in the company's reporting year.
Guidance is management's forecast, not a completed result.