Mobility Global, Inc.

What they do

The company operates two segments. CARFAX offers vehicle history, valuation, and ownership information to consumers and over 40,000 dealer customers as of December 31, 2025, sold primarily through dealer subscriptions (Advantage, Car Listings, CARFAX For Life) and Banking & Insurance Group customers. B2B comprises Marketing & Sales (including automotiveMastermind, Market Scan, Polk Auto Solutions, and Recall) and Strategy & Planning (forecasts, analytics, and advisory services), serving 100% of the top 40 global carmakers and 94% of the top 100 automotive suppliers as of December 31, 2025.

Revenue drivers

• CARFAX — Generates revenue from dealer subscriptions priced per location per month and from Banking & Insurance Group customers. In Q2 2025, CARFAX revenue was $289 million, about 66% of total quarterly revenue of $439 million, with subscription revenue of $234 million and non-subscription revenue of $55 million.
• B2B — Predominantly subscription-based, with revenue from marketing and sales analytics (automotiveMastermind, Market Scan, Polk Auto Solutions, Recall) and strategy and planning forecasts and advisory services. In Q2 2025, B2B revenue was $150 million, about 34% of total quarterly revenue, including $124 million subscription and $26 million non-subscription revenue.
• Subscription revenue (company-wide) — The largest revenue stream, totaling $358 million in Q2 2025 (roughly 82% of total quarterly revenue), split between CARFAX ($234 million) and B2B ($124 million).
• Non-subscription revenue — Includes transactional items such as marketing campaigns, VIN pulls, and Recall outreach. In Q2 2025, non-subscription revenue was $81 million, with $55 million from CARFAX and $26 million from B2B.

Recent performance

Revenue rose to $468.0 million in the quarter ended June 30, 2026, from $439.0 million in the quarter ended June 30, 2025, based on reported XBRL financials. For full-year 2025, revenue was $1,750 million, with operating profit of $339 million and net income of $220 million. Adjusted EBITDA for 2025 was $711 million, a 40.6% margin, with Q4 2025 Adjusted EBITDA of $163 million reflecting higher selling and general expenses and transaction costs. Segment Adjusted EBITDA margins in 2025 were 46.9% for CARFAX and 32.4% for B2B. Balance sheet at June 30, 2026: total assets $13.06 billion, total liabilities $3.23 billion, shareholder equity $9.84 billion, cash $186.0 million, long-term debt $1.98 billion.

Strategy

Management states it expects to grow the CARFAX product suite through cross-product adoption and new product launches, supported by continued investment in the CARFAX brand to build consumer trust and support pricing power and retention. The company also plans geographic expansion in Canada and Europe through new product introductions, a consumer-led model, and strategic investments. For B2B, the strategy is to scale new platform capabilities to drive upsell and margin expansion, leveraging a unique data estate and solutions increasingly embedded in customer workflows. On July 2, 2026, the company entered a material agreement, completed an acquisition or disposition, and reported a change in control, among other events, though the filing excerpt does not describe the transaction.

Risks

• Reliance on CARFAX dealer subscriptions — CARFAX accounted for roughly 66% of Q2 2025 revenue, so changes in dealer location counts, average monthly price per location, or retention could materially affect results.
• B2B customer concentration — B2B serves 100% of the top 40 global carmakers and 94% of the top 100 automotive suppliers as of December 31, 2025, exposing the segment to the spending cycles of a concentrated set of large customers.
• Transaction and integration risk — On July 2, 2026, the company reported a material agreement, a completed acquisition or disposition, and a change in control, but the provided excerpt does not detail the transaction or its financial impact.
• Pre-separation comparability — Q3 and Q4 2025 information is unaudited, preliminary, and reflects carve-out financials as reported by S&P Global Inc., so period-over-period comparisons may not be reliable and amounts ultimately reported may differ.

Outlook

Management expects to continue growing the CARFAX product suite through cross-product adoption and new product launches, and to expand geographically in Canada and Europe. It also aims to scale new B2B platform capabilities to drive upsell and margin expansion. The 8-K and 10-Q excerpts provided do not include specific numerical guidance.