HR Block Inc, listed as 0HOB.L on the London Stock Exchange, reported QQ1 2025 results showing a sharp QoQ revenue pullback and a material swing to a net loss. Revenue of $193.81 million was accompanied by a gross loss of $75.77 million, resulting in an operating loss of $228.33 million and a net loss of $172.58 million (EPS -$1.23) for the quarter. The EBITDA print was negative at $-187.58 million, with EBITDA margin near -97%. Profitability metrics deteriorated meaningfully versus the prior period, while cash burn persisted with operating cash flow at $(328.58) million and free cash flow at $(347.32) million for QQ1 2025. The company finished the period with $439.0 million in cash and cash equivalents and a total debt load of $1.93 billion, yielding a net debt position of approximately $1.49 billion and a negative total stockholders’ equity of $(368.1) million. The liquidity profile remains tight (current ratio 0.77) and working capital dynamics were adverse, driven largely by sizable working capital effects and ongoing cost pressures. YoY improvements in revenue (+5.45%) juxtapose a pronounced QoQ slowdown (-81.76%), underscoring seasonality and the challenge of converting top-line strength into bottom-line profitability in the current operating environment. Management commentary for QQ1 2025 is not provided in the supplied transcript, limiting visibility into near-term guidance. Investors should monitor cost-control initiatives, balance sheet restructuring actions, and any updated guidance as the tax-season cycle evolves.