Financial Data and Key Metrics Changes - The company reported net revenue of $5.3 million for Q1 2025, slightly above guidance but down from $6.7 million in Q1 2024, primarily due to the exit of low-margin business [11][12] - GAAP gross margin was 2.5% and non-GAAP gross margin was 10.8% for Q1 2025, compared to 7.3% and 13.4% respectively in Q1 2024, with the decrease attributed to transition costs and lower revenue [12] - GAAP net loss from continuing operations was $4.8 million or $0.21 per share, an improvement from a loss of $5.4 million or $0.24 per share in Q1 2024 [13] - Cash and cash equivalents at the end of Q1 2025 were $132.7 million, with cash usage of $3.3 million during the quarter [15] Business Line Data and Key Metrics Changes - The transition of production from Singapore to Thailand is progressing well, with over 75% of volume now transitioned [50] - The company is focusing on higher-margin opportunities and has made targeted investments to support organic growth initiatives [12][20] Market Data and Key Metrics Changes - Approximately 25% of the company's business is exposed to U.S. import tariffs due to manufacturing in Thailand and Singapore [5][17] - The company is monitoring customer demand and potential indirect effects of tariffs, with some caution observed in the market [41][42] Company Strategy and Development Direction - The company is executing its Perform, Accelerate, Transform (PAT) strategy to strengthen its core business and expand into high-value applications [7][10] - New strategic partnerships have been formed, including collaborations with Tag and Track and Inplay to enhance product offerings in the IoT space [9][26] - The company aims to drive future growth through M&A, although current macroeconomic conditions present challenges [28][29] Management's Comments on Operating Environment and Future Outlook - Management anticipates continued market uncertainty and high volatility, closely monitoring risks related to trade policies and global GDP [5][6] - The company expects Q2 2025 net revenue in the range of $4.9 million to $5.3 million, reflecting cautious market conditions [17] Other Important Information - The company is developing new performance metrics to monitor progress across strategic objectives, with updates planned for each quarter [29][30] - A corporate governance update includes a proposal to declassify the board, pending shareholder approval [34][35] Q&A Session Summary Question: Impact of tariffs on customer pipeline - Management noted some customer concerns regarding indirect impacts from tariffs, but no significant effects have been observed yet [41][42] Question: Status of grocery logistics deal - The grocery logistics project is tracking as planned, with initial orders expected by the end of the year and a go-live target for mid-2026 [43] Question: Transition from Singapore to Thailand and margin guidance - Over 75% of production volume has transitioned to Thailand, with expectations for improved yields and efficiency [50] - Margin guidance for Q4 remains uncertain pending tariff outcomes [52] Question: Order pull-ins in Q1 - Management confirmed that Q1 did not benefit from any pull-ins, as lead times and inventory levels did not support significant changes [57] Question: Quoting activity in Q2 - Some caution has been observed in quoting activity, but no significant concerns have emerged for Q2 [59]

Financial Data and Key Metrics Changes - Identiv reported net revenue of $5.3 million for Q1 2025, slightly above guidance but down from $6.7 million in Q1 2024, primarily due to the exit of low-margin business [11][12] - GAAP gross margin was 2.5% and non-GAAP gross margin was 10.8% for Q1 2025, compared to 7.3% and 13.4% respectively in Q1 2024, with the decrease attributed to transition costs and lower revenue [12] - GAAP net loss from continuing operations was $4.8 million or $0.21 per share, an improvement from a loss of $5.4 million or $0.24 per share in Q1 2024 [13] - Cash and cash equivalents at the end of Q1 2025 were $132.7 million, with cash usage of $3.3 million during the quarter [14] Business Line Data and Key Metrics Changes - The transition of production from Singapore to Thailand is progressing well, with over 75% of volume now transitioned [50] - The company is focusing on higher-margin opportunities and has made significant progress in its new product development (NPD) pipeline, with 21 active projects [31][32] Market Data and Key Metrics Changes - Approximately 25% of Identiv's business is exposed to U.S. import tariffs due to its manufacturing footprint in Thailand and Singapore [5][16] - The company is preparing for various tariff scenarios and expects to pass along incurred tariffs to customers as surcharges [16] Company Strategy and Development Direction - Identiv is executing its Perform, Accelerate, Transform (PAT) strategic framework to strengthen its core business and expand into high-value applications [7][18] - The company aims to drive future growth through strategic partnerships and innovative product development, particularly in the IoT space [10][36] Management's Comments on Operating Environment and Future Outlook - Management noted ongoing market uncertainty and high volatility, with a cautious outlook due to shifting trade policies and a softening global GDP [5][10] - Despite challenges, the company believes its value proposition remains strong, driven by long-term trends in RFID and IoT solutions [36] Other Important Information - A new strategic partnership with Tag and Track was announced, aimed at enhancing IoT solutions for the pharmaceutical industry [9] - The company is also collaborating with Inplay to develop a new portfolio of BLE-enabled smart labels for logistics applications [9][27] Q&A Session Summary Question: Impact of tariffs on customer pipeline - Management acknowledged some customer concerns regarding indirect impacts from tariffs but noted no significant effects observed so far [40][41] Question: Status of grocery logistics deal - The grocery logistics project is tracking as planned, with initial orders expected by the end of the year and a go-live target for mid-2026 [43] Question: Transition from Singapore to Thailand and margin guidance - Over 75% of production volume has transitioned to Thailand, with expectations to complete the transition by the end of Q2 [50][52] - Margin guidance for Q4 remains uncertain pending the outcome of tariff reviews [53] Question: Order pull-ins in Q1 - Management confirmed that Q1 did not benefit from any pull-ins, maintaining normal order flow [58] Question: Quoting activity in Q2 - There is caution among customers, but no significant concerns for Q2 have been noted, with guidance reflecting potential slowdowns [61]

Financial Performance - Net revenue decreased to $53 million in Q1 2025 from $67 million in Q1 2024 due to the planned exit of low margin business[10] - GAAP gross margin decreased to 25% in Q1 2025 from 73% in Q1 2024 due to Thailand to Singapore transition and decreased utilization[10] - Non-GAAP gross margin decreased to 108% in Q1 2025 from 134% in Q1 2024[10] - GAAP net loss from continuing operations improved to ($48 million) in Q1 2025 from ($54 million) in Q1 2024 due to reduction in strategic review costs[10] - Non-GAAP adjusted EBITDA was ($39 million) in Q1 2025 compared to ($32 million) in Q1 2024[10] Business Strategy and Outlook - The company is in "Execution Mode" of Perform-Accelerate-Transform (P-A-T) strategy[8] - The company expects Q2 2025 net revenue to be between $49 million and $53 million[12] - The company anticipates continued market uncertainty and is closely monitoring risks[7] - The company is transitioning RFID production to Thailand and expects to conclude Singapore-based production by the end of Q2 or shortly thereafter[8] - The company announced strategic partnerships with Tag-N-Trac for cold chain tracking solutions and is collaborating with InPlay on BLE-enabled smart labels[8]

"In the first quarter of 2025, we began executing our Perform-Accelerate-Transform ("P-A-T") strategic framework as a pure-play IoT solutions provider, supported by a strengthened commercial organization," said Kirsten Newquist, CEO of Identiv. "Our specialized RFID and BLE tags, inlays, and labels are an important component enabling the digital transformation and addressing key industry challenges. Even as we navigate through today's challenging macro environment, Identiv's value proposition remains strong ...

Core Insights - Identiv, Inc. has appointed Mick Lopez to its Board of Directors and is focusing on strategic partnerships to enhance its IoT solutions in the pharmaceutical industry and logistics applications [1][2] Financial Performance - For Q1 2025, Identiv reported revenue of $5.3 million, down from $6.7 million in Q1 2024, primarily due to exiting low-margin business [3] - GAAP gross margin for Q1 2025 was 2.5%, compared to 7.3% in Q1 2024, while non-GAAP gross margin decreased from 13.4% to 10.8% [3] - GAAP operating expenses were $5.6 million in Q1 2025, slightly up from $5.5 million in Q1 2024, reflecting targeted investments for organic growth [4] - The GAAP net loss from continuing operations was $4.8 million, or $0.21 per share, an improvement from a loss of $5.4 million, or $0.24 per share, in Q1 2024 [5] - Non-GAAP adjusted EBITDA loss increased to $3.9 million in Q1 2025 from $3.2 million in Q1 2024 [6] Financial Outlook - Management expects Q2 2025 net revenue to be between $4.9 million and $5.3 million, reflecting current market conditions and customer demand [7] Company Overview - Identiv specializes in RFID- and BLE-enabled IoT solutions, creating digital identities for physical objects and enhancing connectivity across various industries [10]

Core Insights - Identiv, Inc. has announced a strategic partnership with Tag-N-Trac to enhance supply chain visibility for pharmaceutical companies through specialized IoT solutions focused on cold chain tracking [1][4] Company Overview - Identiv is a leader in RFID- and BLE-enabled IoT solutions, with its technology integrated into over 1.5 billion applications globally, driving innovation across various sectors including healthcare and consumer electronics [6] - Tag-N-Trac provides a full stack IoT platform for real-time supply chain visibility and traceability, focusing on solving complex supply chain and inventory management challenges [7] Partnership Details - The partnership combines Identiv's advanced BLE smart labels with Tag-N-Trac's RELATIVITY™ SaaS platform, which offers item-level visibility and actionable insights from origin to delivery [2] - The RELATIVITY platform enables real-time monitoring of ambient conditions such as temperature and humidity, ensuring compliance for temperature-sensitive products [2][3] Industry Context - The need for real-time data and visibility in the pharmaceutical cold chain is increasing due to growing regulatory requirements and patient safety concerns [3] - The collaboration aims to provide pharmaceutical companies with the necessary data intelligence to manage temperature-sensitive products safely and efficiently [4]

About Identiv Identiv's RFID- and BLE-enabled IoT solutions create digital identities for physical objects, enhancing global connectivity for businesses, people, and the planet. Its solutions, integrated into over 1.5 billion applications worldwide, drive innovation across healthcare, consumer electronics, luxury goods, smart packaging, and more. For additional information, visit identiv.com. Identiv Investor Relations Contact: [email protected] SANTA ANA, Calif., April 22, 2025 /PRNewswire/ -- Identiv, Inc ...

Group 1 - Identiv, Inc. has appointed Mick Lopez to its Board of Directors, bringing extensive experience in strategic and financial governance, particularly in mergers and acquisitions [1][2] - Lopez has served as CFO for several companies, including Ribbon Communications and Vista Outdoor, and holds an MBA from The University of Chicago [2] - The company is seeking stockholder approval to declassify its Board, which would allow all directors to be elected for one-year terms starting from the 2026 annual meeting [3] Group 2 - As part of its governance review, Identiv has amended its corporate governance guidelines to require directors to tender their resignation if a majority of votes are marked "against" or "withheld" in uncontested elections [4] - Identiv's IoT solutions are integrated into over 1.5 billion applications globally, enhancing connectivity across various sectors including healthcare and consumer electronics [5]

Earnings Conference Call Q4 and FY 2024 March 5, 2025 Safe Harbor | Note Regarding Forward-Looking Information This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are those involving future events and future results that are based on current expectations as well as the current beliefs and assumptions of management of Identiv and can be identified by words such as "anticipate," "believe," "continue," "pla ...

PART I [Business](index=4&type=section&id=Item%201.%20Business) Identiv operates as a single IoT Business segment, focusing on RFID and BLE devices, with a strategy to grow in healthcare and high-value markets - The company's vision is to create digital identities for everyday products through specialty RFID and IoT solutions, having integrated its devices into over **1.5 billion applications** globally[16](index=16&type=chunk) - Identiv's growth strategy, "Perform, Accelerate, Transform," focuses on optimizing its core channel business, accelerating growth in healthcare and high-value segments, and pursuing inorganic growth opportunities[23](index=23&type=chunk)[24](index=24&type=chunk)[25](index=25&type=chunk) - The company is expanding its BLE/multi-component technology platform and establishing a dedicated business development team to target specific high-value applications in healthcare and other industries[28](index=28&type=chunk)[32](index=32&type=chunk) - As of December 31, 2024, the company had **166 employees**, with the majority (**106**) in manufacturing, primarily located in Thailand and Singapore[35](index=35&type=chunk)[39](index=39&type=chunk) [Risk Factors](index=10&type=section&id=Item%201A.%20Risk%20Factors) The company faces significant risks including intense competition, customer concentration, supply chain disruptions, and macroeconomic volatility, following the Physical Security Business sale - The sale of the Physical Security Business on September 6, 2024, which accounted for a significant portion of historical revenue, creates uncertainty regarding the use of proceeds and future operations[45](index=45&type=chunk)[48](index=48&type=chunk) - The company is highly dependent on a few significant customers; in 2024, the top ten customers accounted for **51% of total net revenue**, with one customer representing **11%**, and in 2023, one customer accounted for **32% of net revenue**[59](index=59&type=chunk) - The business is vulnerable to supply chain disruptions due to reliance on a limited number of suppliers and contract manufacturers for key components, such as semiconductors[57](index=57&type=chunk)[70](index=70&type=chunk) - Adverse global macroeconomic conditions, including inflation and economic slowdowns, have led to delays and reductions in customer orders and increased material and shipping costs[55](index=55&type=chunk) [Unresolved Staff Comments](index=26&type=section&id=Item%201B.%20Unresolved%20Staff%20Comments) The company reports no unresolved staff comments from the SEC - None[89](index=89&type=chunk) [Cybersecurity](index=28&type=section&id=Item%201C.%20Cybersecurity) Identiv maintains a comprehensive cybersecurity risk management strategy, overseen by the board, with no material incidents reported to date - The company has integrated processes for assessing, identifying, and managing material cybersecurity risks into its overall risk management framework[91](index=91&type=chunk) - Oversight is provided by the board of directors and its audit committee, with daily management by the Global Director of IT, CEO, and CFO[96](index=96&type=chunk)[97](index=97&type=chunk) - As of the report date, the company has not experienced a cybersecurity threat or incident that resulted in a material adverse impact to its business, operations, or financial condition[95](index=95&type=chunk) [Properties](index=29&type=section&id=Item%202.%20Properties) The company's corporate headquarters are in Santa Ana, California, with major leased facilities in Germany, Thailand, and Singapore Properties Overview | Location | Function | Square Feet | Lease Expiration | | :--- | :--- | :--- | :--- | | Santa Ana, California | Corporate headquarters; administration; research and development; sales | 5,000 | January 2028 | | Sauerlach, Germany | European operations; research and development; sales | 5,156 | April 2026 | | Ayutthaya, Thailand | RFID/NFC product manufacturing; research and development | 41,441 | March 2028 | | Singapore | RFID/NFC product manufacturing; research and development | 27,545 | August 2026 | [Legal Proceedings](index=29&type=section&id=Item%203.%20Legal%20Proceedings) As of December 31, 2024, Identiv is not a party to any material legal proceedings - The company is not a party to any material legal proceedings as of December 31, 2024[100](index=100&type=chunk) [Mine Safety Disclosures](index=30&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Not applicable[102](index=102&type=chunk) [Information About Our Executive Officers](index=30&type=section&id=Information%20About%20Our%20Executive%20Officers) Key executive officers include CEO Kirsten Newquist (since Sept 2024) and CFO Justin Scarpulla (since Dec 2021), with extensive industry experience - Kirsten Newquist, age **58**, became CEO in September 2024, having previously held various leadership roles at Avery Dennison Corporation[103](index=103&type=chunk) - Justin Scarpulla, age **51**, has been the CFO since December 2021, with prior experience including roles at Space Exploration Technologies Corp. (SpaceX), Vizio, Inc., and MaxLinear, Inc[104](index=104&type=chunk) PART II [Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=31&type=section&id=Item%205.%20Market%20for%20Registrant%27s%20Common%20Equity%2C%20Related%20Stockholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities) Identiv's common stock trades on Nasdaq, with a $10 million stock repurchase program authorized in November 2024, and no history or intent to pay cash dividends - The company's board authorized a **$10 million** stock repurchase program effective November 15, 2024[108](index=108&type=chunk) Stock Repurchase Program Activity (in thousands, except average price) | Period | Total Shares Purchased (Publicly Announced Program) | Average Price Paid | Remaining Value of Program | | :--- | :--- | :--- | :--- | | Nov 2024 | 199,500 | $3.91 | $9,220,684 | | Dec 2024 | 264,279 | $4.13 | $8,130,420 | | **Q4 Total** | **463,779** | **$4.03** | | - The company has never declared or paid cash dividends and intends to retain future earnings[108](index=108&type=chunk) [Reserved](index=31&type=section&id=Item%206.%20%5BReserved%5D) This item is reserved [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=32&type=section&id=Item%207.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Identiv's 2024 financial results show a 39% revenue decrease in continuing operations, offset by a $103.5 million asset sale gain, leading to $74.8 million net income - On September 6, 2024, the company completed the sale of its Physical Security Business for approximately **$143.9 million** in cash, and now operates as a single reportable segment: the IoT Business[112](index=112&type=chunk)[114](index=114&type=chunk) Key Financial Metrics (in thousands, except percentages) | Metric | 2024 | 2023 | % Change | | :--- | :--- | :--- | :--- | | Net revenue | $26,628 | $43,445 | (39%) | | Gross profit | $340 | $6,010 | (94%) | | Gross profit margin | 1% | 14% | - | | Loss from continuing operations | ($27,961) | ($13,505) | 107% | | Net income (loss) | $74,820 | ($5,489) | - | - The **39% decrease in net revenue** was primarily due to substantially lower unit sales of RFID transponder products to one customer undergoing a technology transition[134](index=134&type=chunk) - General and administrative expenses increased **94%** in 2024, primarily due to **$6.2 million** in professional services fees associated with strategic review-related activities[145](index=145&type=chunk) - Cash and cash equivalents increased to **$135.6 million** as of December 31, 2024, largely due to the proceeds from the asset sale[157](index=157&type=chunk) [Financial Statements and Supplementary Data](index=49&type=section&id=Item%208.%20Financial%20Statements%20and%20Supplementary%20Data) Audited consolidated financial statements are presented, with an unqualified opinion from BPM LLP and Inventory Valuation identified as a critical audit matter - The independent auditor, BPM LLP, issued an **unqualified opinion** on the consolidated financial statements and the effectiveness of internal control over financial reporting[196](index=196&type=chunk)[197](index=197&type=chunk) - The auditor identified **Inventory Valuation**, specifically adjustments for excess or obsolete inventories, as a critical audit matter due to the significant management judgment involved in forecasting product demand[201](index=201&type=chunk)[202](index=202&type=chunk) - The financial statements classify the results of the sold Physical Security Business as discontinued operations, with a reported gain on sale of **$103.5 million**, net of taxes, for 2024[217](index=217&type=chunk)[251](index=251&type=chunk) [Consolidated Financial Statements](index=53&type=section&id=Consolidated%20Financial%20Statements) Consolidated financial statements show significant increases in cash and assets, and a decrease in liabilities, with 2024 net income of $74.8 million driven by the asset sale Consolidated Balance Sheet Data (in thousands) | | Dec 31, 2024 | Dec 31, 2023 | | :--- | :--- | :--- | | Cash and cash equivalents | $135,646 | $23,312 | | Total current assets | $152,845 | $79,486 | | Total assets | $163,225 | $109,723 | | Total current liabilities | $7,960 | $30,782 | | Total liabilities | $9,156 | $35,451 | | Total stockholders' equity | $154,069 | $74,272 | Consolidated Income Statement Data (in thousands) | | Year Ended Dec 31, 2024 | Year Ended Dec 31, 2023 | | :--- | :--- | :--- | | Net revenue | $26,628 | $43,445 | | Gross profit | $340 | $6,010 | | Net loss from continuing operations | ($25,911) | ($13,875) | | Income from discontinued operations, net of tax | $100,731 | $8,386 | | Net income (loss) | $74,820 | ($5,489) | [Notes to Consolidated Financial Statements](index=57&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) Notes provide detailed disclosures on accounting policies, discontinued operations, revenue, segment reporting, and equity - Note 3 details the sale of the Physical Security Business for cash proceeds of **$144.3 million**, resulting in a gain on sale of **$103.5 million**, net of taxes[248](index=248&type=chunk)[251](index=251&type=chunk) - Note 12 confirms that after the sale of the Physical Security Business, the company has only one reportable segment: the IoT Business segment[311](index=311&type=chunk) - Note 9 discloses that as of December 31, 2024, the outstanding Series B convertible preferred stock, including accrued dividends, is convertible into **6,867,990 shares** of common stock[289](index=289&type=chunk)[291](index=291&type=chunk) - Note 10 shows total stock-based compensation expense was **$8.7 million** in 2024, of which **$5.3 million** was related to discontinued operations, largely due to accelerated vesting of RSUs for employees transferring with the sold business[301](index=301&type=chunk)[304](index=304&type=chunk) [Changes in and Disagreements with Accountants on Accounting and Financial Disclosure](index=85&type=section&id=Item%209.%20Changes%20in%20and%20Disagreements%20with%20Accountants%20on%20Accounting%20and%20Financial%20Disclosure) This item is not applicable - Not applicable[324](index=324&type=chunk) [Controls and Procedures](index=85&type=section&id=Item%209A.%20Controls%20and%20Procedures) Management and auditors concluded that disclosure controls and internal control over financial reporting were effective as of December 31, 2024, with an unqualified opinion from BPM LLP - Management concluded that as of December 31, 2024, the company's disclosure controls and procedures were **effective** at a reasonable assurance level[326](index=326&type=chunk) - Based on an assessment using the COSO framework, management concluded that the company's internal control over financial reporting was **effective** as of December 31, 2024[331](index=331&type=chunk) - No changes were made to internal control over financial reporting during the fourth quarter of 2024 that have materially affected, or are reasonably likely to materially affect, these controls[332](index=332&type=chunk) [Other Information](index=88&type=section&id=Item%209B.%20Other%20Information) No directors or officers adopted or terminated Rule 10b5-1 trading arrangements during Q4 2024 - No director or officer adopted or terminated a Rule 10b5-1 trading arrangement during the fiscal quarter ended December 31, 2024[342](index=342&type=chunk) [Disclosure Regarding Foreign Jurisdiction that Prevent Inspections](index=88&type=section&id=Item%209C.%20Disclosure%20Regarding%20Foreign%20Jurisdiction%20that%20Prevent%20Inspections) This item is not applicable - Not applicable[343](index=343&type=chunk) PART III [Directors, Executive Officers and Corporate Governance](index=89&type=section&id=Item%2010.%20Directors%2C%20Executive%20Officers%20and%20Corporate%20Governance) Information on directors, executive officers, and corporate governance is incorporated by reference from the 2025 Proxy Statement - The information required by this item concerning directors, executive officers, and corporate governance will be set forth in the company's upcoming Proxy Statement and is incorporated herein by reference[346](index=346&type=chunk) [Executive Compensation](index=89&type=section&id=Item%2011.%20Executive%20Compensation) Executive compensation information is incorporated by reference from the 2025 Proxy Statement - The information required by this item will be contained in the Proxy Statement under the captions "Compensation of Directors" and "Executive Compensation" and is incorporated herein by reference[348](index=348&type=chunk) [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](index=89&type=section&id=Item%2012.%20Security%20Ownership%20of%20Certain%20Beneficial%20Owners%20and%20Management%20and%20Related%20Stockholder%20Matters) Security ownership and related stockholder matters are incorporated by reference from the 2025 Proxy Statement - The information required by this item will be set forth in the Proxy Statement under the captions "Security Ownership of Certain Beneficial Owners and Management" and "Equity Compensation Plan Information" and is incorporated herein by reference[349](index=349&type=chunk) [Certain Relationships and Related Transactions, and Director Independence](index=89&type=section&id=Item%2013.%20Certain%20Relationships%20and%20Related%20Transactions%2C%20and%20Director%20Independence) Information on related party transactions and director independence is incorporated by reference from the 2025 Proxy Statement - The information required by this item will be set forth in the Proxy Statement under the captions "Certain Relationships and Related Transactions" and "Director Independence" and is incorporated herein by reference[350](index=350&type=chunk) [Principal Accountant Fees and Services](index=89&type=section&id=Item%2014.%20Principal%20Accountant%20Fees%20and%20Services) Principal accountant fees and services information is incorporated by reference from the 2025 Proxy Statement - The information required by this item will be set forth in the Proxy Statement under the captions "Principal Accountant Fees and Services" and is incorporated herein by reference[351](index=351&type=chunk) PART IV [Exhibits and Financial Statement Schedules](index=89&type=section&id=Item%2015.%20Exhibits%20and%20Financial%20Statement%20Schedules) This section lists all financial statements, schedules, and various exhibits filed as part of the Form 10-K report - This item lists all financial statements, schedules, and exhibits filed with the Annual Report on Form 10-K[353](index=353&type=chunk) [Form 10-K Summary](index=93&type=section&id=Item%2016.%20Form%2010-K%20Summary) This item is not applicable - Not applicable[358](index=358&type=chunk)