Outlook
Our guidance for 2025 is described below:
- Revenue in the range of $4.2 billion to $4.4 billion
- Adjusted EBITDA margin in the range of 11.0% to 12.0%
- SG&A expense of approximately 9.0% of revenue, inclusive of an estimated $45 million of stock-based compensation expense
- Mid-20s effective tax rate for adjusted net income
- Capital expenditures of approximately $140 million to $160 million