Revenue: As of FY2025 Q3, the actual value is USD 1.421 B, missing the estimate of USD 1.431 B.EPS: As of FY2025 Q3, the actual value is USD -0.08.EBIT: As of FY2025 Q3, the actual value is USD -6 M.<h3>Segment Revenue</h3><ul><li>Truck Brokerage: Revenue increased from $655 million in Q3 2024 to $1,039 million in Q3 2025.</li><li>Complementary Services: Revenue increased from $419 million in Q3 2024 to $442 million in Q3 2025.</li><li>Last Mile: Revenue for Q3 2025 was $305 million, compared to $268 million in Q3 2024.</li><li>Managed Transportation: Revenue for Q3 2025 was $137 million, compared to $151 million in Q3 2024.</li></ul><h3>Operational Metrics</h3><ul><li>Gross Margin: Truck brokerage gross margin was 13.5% in Q3 2025, slightly down from 13.7% in Q3 2024. Complementary services gross margin was 21.3% in Q3 2025, slightly down from 21.5% in Q3 2024. Overall gross margin for Q3 2025 was 16.5%, compared to 17.3% in Q3 2024.</li><li>Adjusted EBITDA: $32 million in Q3 2025, compared to $33 million in Q3 2024. The adjusted EBITDA margin was 2.3%, compared to 3.2% in Q3 2024.</li><li>Net Loss: - $14 million in Q3 2025, compared to - $243 million in Q3 2024.</li><li>Operating Loss: $7 million in Q3 2025, compared to $20 million in Q3 2024.</li></ul><h3>Cash Flow</h3><ul><li>Free Cash Flow: $9 million in Q3 2025, compared to - $18 million in Q3 2024.</li><li>Adjusted Free Cash Flow: $18 million in Q3 2025, compared to $9 million in Q3 2024.</li><li>Operating Cash Flow: Net cash provided by operating activities for the nine months ended September 30, 2025, was $44 million, compared to net cash used in operating activities of $5 million for the same period in 2024.</li></ul><h3>Unique Metrics</h3><ul><li>Adjusted Free Cash Flow Conversion: 56.3% in Q3 2025, compared to 27.3% in Q3 2024.</li><li>Brokerage Volume: Increased by 1% year over year, with less-than-truckload volume increasing by 43%.</li><li>Last Mile Growth: Last Mile stops grew by 12% year-over-year.</li></ul><h3>Outlook / Guidance</h3>RXO expects fourth-quarter 2025 adjusted EBITDA to be between $20 million and $30 million. In the Brokerage segment, the company anticipates a low-single-digit percentage decline in overall volume and a gross margin between 12% and 13%.

RXO | 8-K: FY2025 Q3 Revenue Misses Estimate at USD 1.421 B