SCOR earnings analysis
What we found in SCOR's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Comscore's Q2 results deteriorated year over year: revenue fell 11.3% to $79.246 million, gross margin declined to approximately 35.7%, and operating loss widened to $11.980 million from $1.681 million. The Movies sale generated $55.7 million of net proceeds and enabled repayment of $40.1 million of debt obligations, but cash provided by operations declined to $8.041 million in the first half. The newly announced realignment carries $7 million to $9 million of estimated costs, while management expects continued advertising-market softness in 2026, leaving the execution and liquidity outlook challenging.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue declined 11.3% year over year
- Revenue was $79.246 million, down $10.143 million or 11.3% from $89.389 million in Q2 2025 and below the prior-quarter $85 million shown in the quarterly history. Management attributed the year-over-year decline primarily to the Movies divestiture, lower renewals, lost TV and syndicated digital business, and lower Proximic usage.
- Gross margin compressed sharply
- Gross margin fell to approximately 35.7% from 40.6% in Q2 2025 and 37.9% in Q1 2026, as cost of revenues was $50.982 million, or 64.3% of revenue, versus 59.4% a year earlier.
- Operating loss increased materially
- Operating loss widened to $11.980 million, or negative 15.1% of revenue, from a $1.681 million loss, or negative 1.9%, in Q2 2025. The quarter included a $2.682 million loss on the Movies divestiture and $14.998 million of general and administrative expense, up 16.5% year over year.
- Asset sale eliminated secured debt
- The Movies Business was sold for a $70.0 million base cash purchase price. Comscore used proceeds to repay the Credit Agreement in full, including $39.0 million of principal, $0.7 million of accrued interest and a $0.4 million prepayment premium.
- Liquidity improved after debt repayment
- Cash, cash equivalents and restricted cash totaled $28.7 million at June 30, 2026, including $3.0 million of restricted cash. Net cash provided by operating activities was $8.041 million for the first six months, versus $9.994 million in the prior-year period.
- Sale proceeds funded deleveraging
- Six-month investing cash flow was $43.458 million, primarily reflecting $55.7 million of net proceeds from the Movies divestiture, while financing cash outflow was $49.540 million, including $44.6 million of Credit Agreement principal repayments.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Realignment execution and liquidity risk
- The newly disclosed realignment plan is expected to generate $7 million to $9 million of exit-related costs, with implementation and cash payments substantially complete in Q3 2027. The filing warns that disruption, employee losses, delays and execution issues could reduce savings and impair liquidity.
- Advertising-market weakness persists
- Management stated that advertising-market softness is expected to continue affecting the business in 2026. Q2 revenue declined 11.3% to $79.246 million, and the filing warns that worsening advertising conditions could negatively affect financial position and liquidity.
- Potential substantial shareholder dilution
- The updated dilution risk notes that Series C Preferred Stock was convertible into 12,670,863 common shares as of June 30, 2026. In addition, 538,574 stock options, 1,018,660 restricted or deferred stock units and 3,246,363 shares available for future awards were reserved for issuance.
What they reported.
What the company itself reported, taken out of the document.
- Gross margin
- 35.7%
- Operating margin
- -15.1%
- Segment
- Content & Ad Measurement: $67.777 million, down $8.976 million or 11.7% year over year; Syndicated Audience was $55.249 million, down 13.6%, and Cross-Platform was $12.528 million, down 2.1%.
- Segment
- Research & Insight Solutions: $11.469 million, down $1.167 million or 9.2% year over year.
What they said about what is next.
The 10-Q does not provide numeric revenue or EPS guidance or indicate a change to the prior outlook. Management expects advertising-market softness to continue affecting the business in 2026; the realignment plan is estimated to incur $7 million to $9 million of exit-related costs and is expected to be substantially complete, including cash payments, in the third quarter of 2027.
The filing reads worse than the one before it.
What came before.
- 10-Q · May 15, 2026
- Comscore's Q1 2026 results reflect a slight revenue decline year-over-year, dropping to $85.3 million, which is 0.5% lower than Q1 2025. The company posted a net loss of $6.2 million and an EPS of -$0.41, missing…
- 10-K · March 26, 2026
- Comscore positions itself as a cross-platform audience measurement and advertising verification provider, emphasizing privacy-centric innovation (Predictive Audiences, CCM) and continued investment in cross‑platform…
- 10-Q · November 7, 2025
- Comscore reported quarterly revenue of $88,906,000 (up $427,000 vs. Q3 2024) and delivered operating income of $1,705,000 in Q3 2025 versus an operating loss of $(59,605,000) in Q3 2024. Diluted loss per share narrowed…
- 10-Q · May 8, 2025
- Comscore reported Q1 revenue of $85.709M, down modestly from $86.795M a year ago, with gross margin compressing to 39.6% and an expanded net loss per share of $(1.66). Operating cash flow strengthened to $9.062M,…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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