Mobility Global (MBGL) Q2 2026 earnings summary

Executive summary

• Completed spin-off from S&P Global and launched as an independent public company on July 1, 2026, listed as MBGL on NYSE, with integration of five businesses underway.

• Achieved 7% organic revenue growth in Q2 2026, with CARFAX segment up 8% and B2B up 4%.

• Launched new CARFAX products (Homegrown, Showroom), expanded internationally with CARFAX Germany, and advanced integration of business units and AI deployment.

• Initiated a quarterly cash dividend of $0.06 per share, reflecting strong cash generation.

• Operates two segments: CARFAX (consumer vehicle data) and B2B (automotive analytics for OEMs, suppliers, dealers), with a predominantly subscription-based revenue model.

Financial highlights

• Q2 2026 revenue: $468 million, up 7% year-over-year; CARFAX: $312 million (+8%), B2B: $156 million (+4%).

• Adjusted EBITDA: $202 million in Q2 (43% margin), up 7% year-over-year; $386 million for H1 (42% margin).

• GAAP net income: $53 million (11% margin), down 18% year-over-year due to one-time separation costs; diluted EPS: $0.18.

• Free cash flow for Q2: $129 million, down 21% year-over-year; H1 free cash flow: $177 million.

• Ended Q2 with $186 million cash and net debt of $2.0 billion.

Outlook and guidance

• Full-year 2026 revenue guidance: $1,870–$1,885 million (6.9%–7.7% growth); adjusted EBITDA: $745–$760 million (~40% margin).

• Margins expected to be volatile due to standalone costs and transition period; GAAP tax rate expected at 28%–31%.

• No macroeconomic improvement assumed in H2; sequential revenue improvement expected, mainly from CARFAX.

• Medium-term financial targets reiterated, with higher interest expense anticipated due to recent debt issuance.