DigitalBridge Group Inc (6CL.F) delivered a strong QoQ revenue rebound in QQ2 2025, with revenue of $111.87 million and gross profit of $103.28 million, yielding a robust gross margin of approximately 92.3% and an operating margin of about 78.9%. EBITDA stood at $96.80 million and operating income at $88.21 million, underscoring the efficiency of core services and asset-light operating discipline.
However, the quarter was characterized by significant non-operating headwinds. Total other income and expenses net totaled $(114.79) million, which drove a negative income before tax of $(26.58) million despite a positive net income of $31.62 million and a reported net margin of roughly 28.27%. The discrepancy between pre-tax loss and net income signals sizable non-operating items or unusual accounting effects that warrant close scrutiny. On a cash basis, DigitalBridge generated healthy operating cash flow of $76.97 million and free cash flow of $150.28 million, with a year-end cash balance of approximately $345.02 million and total assets near $3.41 billion. The balance sheet reflects a conservative leverage profile (long-term debt around $335.18 million) and meaningful equity, but there are some inconsistencies in the reported net debt figure relative to cash, which should be clarified in subsequent filings.
Overall, the QQ2 2025 results showcase a robust operating framework and cash generation capability, supporting a constructive near-term outlook if non-operating items normalize. Investors should monitor the trajectory of other income/expenses, the delivery cadence of digital infrastructure assets, and any changes in capital deployment that could affect future profitability and earnings stability.