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Yellow Pages (Y) investor relations material
Yellow Pages Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary13 Nov, 2025
Executive summary
Revenue declined 8.1% year-over-year in Q3 2025, with stabilization in customer count decline and strong average spend per customer.
New executive leadership team appointed to strengthen strategic execution.
Achieved solid profitability with Adjusted EBITDA at 20.6% of revenue for Q3 2025.
Cash on hand at end of October was approximately CAD 59 million.
Revenue initiatives showed progress, with stabilized customer count decline and strong average spend per customer.
Financial highlights
Total revenue for Q3 2025 was CAD 48.3 million, down 8.1% year-over-year; digital revenues fell 6.2% to CAD 40 million, print revenues dropped 16.3% to CAD 8.3 million.
Adjusted EBITDA was CAD 10 million (20.6% margin), down from CAD 12.5 million (23.8%) in Q3 2024.
Net income for Q3 2025 was CAD 4 million, or CAD 0.29 diluted EPS, compared to CAD 6.3 million, or CAD 0.46 diluted EPS, in Q3 2024.
Cash flows from operating activities were CAD 7.9 million, down from CAD 11.5 million year-over-year.
Adjusted EBITDA less CapEx was CAD 9.6 million (19.8% margin), down CAD 2.6 million year-over-year.
Outlook and guidance
Revenue and margin pressures expected to continue due to product mix changes and ongoing cost optimizations.
Deferred print revenues due to Canada Post strike will be recognized in Q4.
Continued focus on revenue stabilization, customer acquisition, and maintaining strong average spend per customer.
Explain digital revenue decline drivers.
Detail factors impacting future margin pressure.
Why invest in telesales despite margin pressure?
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Next Yellow Pages earnings date
Q4 202513 Feb, 2026
Next Yellow Pages earnings date
Q4 202513 Feb, 2026
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Frequently asked questions
Yellow Pages Ltd operates digital and print media platforms that provide local business listings, marketing solutions, and advertising services. The company serves small and medium-sized enterprises across Canada. It is headquartered in Montreal, Canada, and its shares are listed on the TSX.
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