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Advantage Solutions (ADV) investor relations material
Advantage Solutions Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary6 Nov, 2025
Executive summary
Q3 2025 revenues were $915 million, down 2.6% year-over-year, with adjusted EBITDA of $99.6 million, nearly flat year-over-year, and net income of $21 million versus a net loss of $37 million in Q3 2024; sequential improvement in cash generation and leverage ratio.
Experiential Services delivered strong growth and execution, offsetting declines in Branded and Retailer Services.
Adjusted unlevered free cash flow was $98 million, nearly 100% of EBITDA, ending the quarter with $201 million in cash.
Results benefited from cost reductions, a one-time gain on divestiture, and favorable tax legislation.
Ongoing IT transformation and new partnerships, including Instacart, are enhancing operational efficiency and real-time execution.
Financial highlights
Adjusted EBITDA for Q3 2025 was $99.6 million, down 1.4% year-over-year; margin expanded to 10.9%.
Net leverage ratio stood at 4.4x, with net debt of $1.47 billion and $201 million in cash at quarter-end.
Adjusted unlevered free cash flow conversion was 98.5% of adjusted EBITDA for the quarter.
Selling, general, and administrative expenses dropped to 6.3% of revenues in Q3 2025.
Interest expense, net, decreased by 10.3% year-over-year in Q3 2025.
Outlook and guidance
Fiscal 2025 revenue expected to be down low single digits to flat, with adjusted EBITDA down mid-single digits year-over-year due to divestiture and macro headwinds.
Adjusted unlevered free cash flow expected to exceed 50% of EBITDA for 2025.
Capex guidance for 2025 is $45–$55 million; net interest expense projected at $140–$150 million.
Long-term net leverage target set below 3.5x.
Management expects internally generated cash and unused credit facility capacity to be sufficient for short- and long-term needs.
Instacart partnership: expected 2026 impact?
Branded Services: drivers for 2026 stabilization
Centralized labor model: 2026 efficiency gains
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Next Advantage Solutions earnings date
Q4 20255 Mar, 2026
Next Advantage Solutions earnings date
Q4 20255 Mar, 2026
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Frequently asked questions
Advantage Solutions Inc. is a business solutions provider specializing in outsourced sales, marketing, and merchandising services. The company serves consumer goods manufacturers and retailers, helping them drive sales, improve product visibility, and enhance shopper engagement. Advantage Solutions offers services such as in-store merchandising, e-commerce optimization, experiential marketing, and data-driven insights. Advantage Solutions is headquartered in Irvine, California, and its shares are listed on the NASDAQ.
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