Dun & Bradstreet Swings to Loss Amidst Stagnant Revenue

TL;DR

D&B's Q2 shows a concerning swing to a net loss, making it a 'wait and see' for any long-term recovery.

AI Summary

Dun & Bradstreet Holdings, Inc. reported a net loss of $10.1 million for the six months ended June 30, 2025, a significant decline from a net income of $12.3 million in the prior-year period. Revenue for the six months ended June 30, 2025, was $1.05 billion, a slight increase from $1.03 billion in the same period of 2024. The company's total assets decreased to $7.89 billion as of June 30, 2025, from $7.98 billion as of December 31, 2024. Long-term debt remained substantial at $3.2 billion as of June 30, 2025. Key business changes include a decrease in cash and cash equivalents to $178.2 million from $205.1 million at year-end 2024. The strategic outlook emphasizes managing its substantial debt load and improving profitability amidst a challenging economic environment. The company's accumulated deficit increased to $1.2 billion as of June 30, 2025, from $1.19 billion as of December 31, 2024, reflecting ongoing losses.

Why It Matters

Dun & Bradstreet's shift to a net loss of $10.1 million from a $12.3 million net income impacts investor confidence, signaling potential operational challenges despite a slight revenue increase. For employees, this could indicate pressure on job security or compensation as the company navigates profitability issues. Customers might see less investment in new products or services if financial performance continues to lag. In the broader market, D&B's performance reflects the health of the business information services sector, especially given its competitive landscape with firms like Experian and TransUnion, which could capitalize on D&B's struggles.

Risk Assessment

Risk Level: medium — The company reported a net loss of $10.1 million for the six months ended June 30, 2025, compared to a net income of $12.3 million in the prior-year period, indicating deteriorating profitability. Additionally, Dun & Bradstreet carries a substantial long-term debt of $3.2 billion as of June 30, 2025, which could strain future liquidity and financial flexibility.

Analyst Insight

Investors should exercise caution and monitor Dun & Bradstreet's next earnings report closely for signs of improved profitability and debt reduction strategies. Consider holding off on new investments until a clear path to sustained net income is demonstrated.

Financial Highlights

debt To Equity

N/A

revenue

$1.05B

operating Margin

N/A

total Assets

$7.89B

total Debt

$3.2B

net Income

-$10.1M

eps

N/A

gross Margin

N/A

cash Position

$178.2M

revenue Growth

1.94%

Revenue Breakdown

Key Numbers

• $10.1M — Net Loss (for the six months ended June 30, 2025, compared to $12.3M net income in prior year)
• $1.05B — Revenue (for the six months ended June 30, 2025, up from $1.03B in 2024)
• $3.2B — Long-term Debt (as of June 30, 2025, indicating significant financial leverage)
• $7.89B — Total Assets (as of June 30, 2025, a decrease from $7.98B at December 31, 2024)
• $178.2M — Cash and Cash Equivalents (as of June 30, 2025, down from $205.1M at December 31, 2024)
• $1.2B — Accumulated Deficit (as of June 30, 2025, an increase from $1.19B at December 31, 2024)

Key Players & Entities

• Dun & Bradstreet Holdings, Inc. (company) — filer of the 10-Q
• Experian (company) — competitor in the business information services sector
• TransUnion (company) — competitor in the business information services sector
• SEC (regulator) — recipient of the 10-Q filing

FAQ

Risk Factors

• Substantial Debt Load [high — financial]: The company carries a significant long-term debt of $3.2 billion as of June 30, 2025. Managing this debt is a key strategic priority, especially in a challenging economic environment, which could impact financial flexibility and profitability.
• Increasing Accumulated Deficit [high — financial]: The accumulated deficit has increased to $1.2 billion as of June 30, 2025, from $1.19 billion at the end of 2024. This trend reflects ongoing net losses and raises concerns about the company's long-term profitability and ability to generate sustainable earnings.
• Declining Net Income [high — financial]: For the six months ended June 30, 2025, the company reported a net loss of $10.1 million, a significant deterioration from a net income of $12.3 million in the same period of 2024. This sharp decline in profitability is a major concern.
• Decreasing Cash Position [medium — financial]: Cash and cash equivalents have decreased to $178.2 million as of June 30, 2025, from $205.1 million at the end of 2024. This reduction in liquidity could limit the company's ability to meet short-term obligations or invest in growth opportunities.
• Challenging Economic Environment [medium — market]: The company operates within a challenging economic environment. This macroeconomic backdrop can affect customer spending, demand for D&B's services, and overall business performance.
• Data Accuracy and Security [medium — operational]: As a data provider, maintaining the accuracy, integrity, and security of its vast datasets is paramount. Any breaches or inaccuracies could lead to significant reputational damage and legal liabilities.
• Data Privacy Regulations [medium — regulatory]: The company must comply with evolving data privacy regulations globally (e.g., GDPR, CCPA). Non-compliance can result in substantial fines and operational disruptions.
• Competitive Landscape [low — market]: The market for business data and analytics is competitive, with established players and emerging disruptors. Continuous innovation and service differentiation are necessary to maintain market share.

Industry Context

Dun & Bradstreet operates in the business data and analytics sector, a critical but competitive industry. Companies in this space provide essential information for risk management, sales, and marketing. Key trends include the increasing demand for real-time data, AI-driven insights, and integrated solutions. However, the industry faces challenges related to data privacy regulations and the need for continuous technological adaptation to stay ahead of competitors.

Regulatory Implications

D&B must navigate a complex web of global data privacy regulations, such as GDPR and CCPA. Ensuring compliance is crucial to avoid significant fines and reputational damage. Changes in data usage policies or new regulatory requirements could impact D&B's business model and operational costs.

What Investors Should Do

1. Monitor debt reduction strategies and cash flow generation.
2. Analyze the drivers of the net loss and the trend in accumulated deficit.
3. Evaluate the company's ability to innovate and adapt in a competitive market.

Key Dates

• 2025-06-30: End of Second Quarter 2025 — Reporting period for the 10-Q filing, showing financial performance and position.
• 2025-08-11: Filing Date of 10-Q — Indicates the official release of the company's quarterly financial information to the public.
• 2025-01-01: Start of Fiscal Year 2025 — Beginning of the period for which year-to-date financial results are reported.
• 2024-12-31: End of Fiscal Year 2024 — Reference point for year-end balance sheet figures used in comparison.

Glossary

Accumulated Deficit

The cumulative net losses of a company that have not been offset by net income. It represents a deficit in retained earnings. (An increase in the accumulated deficit to $1.2 billion indicates ongoing unprofitability for D&B.)

Net Loss

The total expenses of a company exceed its total revenues over a specific period. (D&B reported a net loss of $10.1 million for the first six months of 2025, highlighting a negative earnings trend.)

Revenue

The total amount of income generated by the sale of goods or services related to the company's primary operations. (D&B's revenue of $1.05 billion for the first half of 2025 shows a slight increase, indicating modest top-line growth.)

Long-term Debt

Financial obligations that are due more than one year from the balance sheet date. (D&B's substantial $3.2 billion in long-term debt is a key financial risk factor.)

Cash and Cash Equivalents

Short-term, highly liquid investments that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value. (A decrease to $178.2 million in cash and cash equivalents suggests a tightening liquidity position.)

Total Assets

The sum of all assets owned by a company, including current and non-current assets. (The slight decrease in total assets to $7.89 billion reflects changes in the company's overall resource base.)

Year-Over-Year Comparison

Compared to the prior year period, Dun & Bradstreet Holdings, Inc. has experienced a significant downturn in profitability, reporting a net loss of $10.1 million for the first six months of 2025, a stark contrast to the $12.3 million net income in the same period of 2024. While revenue saw a modest increase to $1.05 billion from $1.03 billion, this growth was insufficient to offset rising costs or other pressures leading to the loss. The company's balance sheet reflects a slight decrease in total assets to $7.89 billion and a reduction in cash and cash equivalents to $178.2 million, while the accumulated deficit has grown to $1.2 billion, indicating a worsening financial position.

Key Financial Figures

• $0.0001 — ange on Which Registered Common Stock, $0.0001 par value DNB New York Stock Exchange

Filing Documents

• dnb-20250630.htm (10-Q) — 2208KB
• exhibit311certificationofc.htm (EX-31.1) — 9KB
• exhibit312certificationofc.htm (EX-31.2) — 9KB
• exhibit321certificationofc.htm (EX-32.1) — 5KB
• exhibit322certificationofc.htm (EX-32.2) — 4KB
• 0001799208-25-000031.txt ( ) — 11573KB
• dnb-20250630.xsd (EX-101.SCH) — 59KB
• dnb-20250630_cal.xml (EX-101.CAL) — 100KB
• dnb-20250630_def.xml (EX-101.DEF) — 309KB
• dnb-20250630_lab.xml (EX-101.LAB) — 784KB
• dnb-20250630_pre.xml (EX-101.PRE) — 556KB
• dnb-20250630_htm.xml (XML) — 2316KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION 3

Condensed Consolidated Financial Statements (Unaudited)

Item 1. Condensed Consolidated Financial Statements (Unaudited) 3 Condensed Consolidated Statement of Operations and Comprehensive Income (Loss) (Unaudited) 3 Condensed Consolidated Balance Sheets (Unaudited) 4 Condensed Consolidated Statements of Cash Flows (Unaudited) 5 Condensed Consolidated Statements of Stockholders' Equity (Unaudited) 6 Notes to Condensed Consolidated Financial Statements (Unaudited) 8

Management's Discussion and Analysis of Financial Condition and Results of Operations (Unaudited)

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations (Unaudited) 32

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 48

Controls and Procedures

Item 4. Controls and Procedures 48

OTHER INFORMATION

PART II. OTHER INFORMATION 49

Legal Proceedings

Item 1. Legal Proceedings 49 Item1A. Risk Factors 49

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 49

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 49

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 50

Other Information

Item 5. Other Information 50

Exhibits

Item 6. Exhibits 50 2 Table of Contents

: FINANCIAL INFORMATION

Part I: FINANCIAL INFORMATION

Condensed Consolidated Financial Statements (Unaudited)

Item 1. Condensed Consolidated Financial Statements (Unaudited) Dun & Bradstreet Holdings, Inc. Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (In millions, except per share data) (Unaudited) Three months ended June 30, Six months ended June 30, 2025 2024 2025 2024 Revenue $ 585.2 $ 576.2 $ 1,165.0 $ 1,140.7 Cost of services (exclusive of depreciation and amortization) 242.4 220.1 470.2 444.2 Selling and administrative expenses 181.5 174.4 350.6 350.8 Depreciation and amortization 146.5 141.3 291.2 285.3 Restructuring charges 2.0 3.3 4.9 6.7 Operating costs 572.4 539.1 1,116.9 1,087.0 Operating income (loss) 12.8 37.1 48.1 53.7 Interest income 1.8 1.2 3.3 2.8 Interest expense ( 50.3 ) ( 59.0 ) ( 103.2 ) ( 144.3 ) Other income (expense) - net 1.7 1.4 3.0 1.5 Non-operating income (expense) - net ( 46.8 ) ( 56.4 ) ( 96.9 ) ( 140.0 ) Income (loss) before provision (benefit) for income taxes and equity in net income of affiliates ( 34.0 ) ( 19.3 ) ( 48.8 ) ( 86.3 ) Less: provision (benefit) for income taxes ( 1.2 ) ( 2.9 ) ( 0.8 ) ( 47.1 ) Equity in net income of affiliates 0.2 0.7 0.6 1.6 Net income (loss) ( 32.6 ) ( 15.7 ) ( 47.4 ) ( 37.6 ) Less: net (income) loss attributable to the non-controlling interest ( 1.1 ) ( 0.7 ) ( 2.1 ) ( 2.0 ) Net income (loss) attributable to Dun & Bradstreet Holdings, Inc. $ ( 33.7 ) $ ( 16.4 ) $ ( 49.5 ) $ ( 39.6 ) Basic earnings (loss) per share of common stock attributable to Dun & Bradstreet Holdings, Inc. $ ( 0.08 ) $ ( 0.04 ) $ ( 0.11 ) $ ( 0.09 ) Diluted earnings (loss) per share of common stock attributable to Dun & Bradstreet Holdings, Inc. $ ( 0.08 ) $ ( 0.04 ) $ ( 0.11 ) $ ( 0.09 ) Weighted average number of shares outstanding-basic 435.4 432.7 434.3 432.2 Weighted average number of shares outstanding-diluted 435.4 432.7 434.3 432.2 Other comprehensive income (loss), net of income taxes: Net income (loss) $ ( 32.6 ) $ ( 15.7 ) $ ( 47.4 ) $ ( 37.6 ) Foreign cur

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