DFIN posts Q3 GAAP net loss of $40.9M on $82.8M pension charge; sales fall 2.3%
DFIN reported third-quarter 2025 results with net sales of $175.3 million, down 2.3% from a year earlier, and a GAAP net loss of $40.9 million, or $1.49 per diluted share, driven mainly by an $82.8 million non-cash pension plan settlement charge. Adjusted EBITDA rose 14.6% to $49.5 million, and the company guided fourth-quarter net sales to $150 million to $160 million, with the company citing a government shutdown that has curtailed IPO and other capital markets activity.
Key points
- Q3 net sales were $175.3 million, down $4.2 million, or 2.3%, from Q3 2024, while software solutions net sales rose 10.3% to $90.7 million.
- GAAP net loss was $40.9 million, or $1.49 per diluted share, versus net earnings of $8.7 million, or $0.29 per diluted share, a year earlier.
- Non-GAAP net earnings were $23.7 million, or $0.86 per diluted share, versus $14.3 million, or $0.48 per diluted share, in Q3 2024.
- Fourth-quarter guidance: total net sales of $150 million to $160 million and Adjusted EBITDA margin of 22% to 24%.
The filing
Written by AI on Nov 8, 2026, 6:58 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 29, 2025.
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