Q3 2025 Financial Performance - Revenue increased to $269 million, a $8 million or 3% increase compared to Q3 2024[8] - Gross profit increased to $68 million, a $23 million or 51% increase compared to Q3 2024[8, 10] - Operational EBITDA significantly increased by $28 million to $29 million, a 2800% increase compared to Q3 2024[10] - Adjusted Operational EBITDA increased by $24 million to $27 million, an 800% increase compared to Q3 2024[10] YTD September 2025 Financial Performance - Revenue increased slightly to $779 million, a $2 million or 0% increase compared to YTD 2024[12] - Gross profit increased to $165 million, a $13 million or 9% increase compared to YTD 2024[12] - Operational EBITDA increased by $23 million to $40 million, a 135% increase compared to YTD 2024[12] - Adjusted Operational EBITDA increased by $21 million to $39 million, a 117% increase compared to YTD 2024[12] Advanced Materials and Chemicals (AM&C) - AM&C revenue increased by 15% compared to the prior year quarter[9] Kodak U.S. Retirement Income Plan - Expected proceeds from reversion increased from $500 million to $600 million, consisting of approximately $450 million in cash and $150 million in hedge funds[8]

Financial Performance - Consolidated revenues for Q3 2025 were $269 million, an increase of $8 million or 3% compared to Q3 2024[3] - Advanced Materials & Chemicals (AM&C) revenues increased to $82 million, up $11 million or 15% year-over-year[3] - Gross profit rose to $68 million, a significant increase of $23 million or 51% compared to Q3 2024[3] - Operational EBITDA for Q3 2025 was $29 million, an increase of $28 million compared to $1 million in Q3 2024[3] - GAAP net income for the quarter was $13 million, a decrease of $5 million or 28% from Q3 2024[3] - Total revenues for Q3 2025 were $269 million, an increase of 3% from $261 million in Q3 2024[25] - Operational EBITDA for Q3 2025 was $29 million, a significant increase of 2800% compared to $1 million in Q3 2024[24] - Net income for Q3 2025 decreased to $13 million, down 28% from $18 million in Q3 2024[24] - Gross profit for Q3 2025 was $68 million, up from $45 million in Q3 2024, reflecting improved cost management[25] Cash and Liabilities - Cash balance at the end of Q3 2025 was $168 million, an increase of $13 million from the previous quarter[6] - Cash and cash equivalents decreased to $168 million as of September 30, 2025, down from $201 million at the end of 2024[27] - Total current liabilities rose significantly to $749 million in Q3 2025, compared to $261 million in Q4 2024[27] - The company reported a net cash used in operating activities of $9 million for the nine months ended September 30, 2025, compared to $11 million for the same period in 2024[29] Operational Insights - AM&C's Operational EBITDA increased by $10 million, driven by price increases and higher volumes in Industrial Film and Chemicals[7] - Print revenues decreased to $177 million, down $5 million or 3% year-over-year, primarily due to lower volume in Prepress Solutions[8] - Research and development costs for Q3 2025 were $7 million, slightly down from $8 million in Q3 2024, indicating a focus on cost control[25] Financial Stability - Kodak has resolved prior going concern conditions, enhancing its financial stability[11] - The pension reversion transaction is expected to yield proceeds increasing from $500 million to $600 million[2] - Interest expense increased to $18 million in Q3 2025 from $14 million in Q3 2024, indicating higher borrowing costs[24] Asset Management - The company’s total assets increased to $2,075 million as of September 30, 2025, compared to $2,001 million at the end of 2024[27]

Financial Performance - Consolidated revenues for the three and nine months ended September 30, 2025, were $269 million and $779 million, representing increases of $8 million (3%) and $2 million (0%) compared to the same periods in 2024[168]. - Revenues for Q3 2025 increased by $8 million to $269 million compared to Q3 2024, driven by improved pricing in Print and Advanced Materials and Chemicals, and favorable foreign currency fluctuations[186][187]. - Kodak's consolidated total revenue for the three months ended September 30, 2025, was $269 million, a decrease of $5 million compared to $261 million in the same period of 2024[200]. - Print revenues decreased by $5 million (3%) to $177 million for the three months and by $30 million (5%) to $520 million for the nine months ended September 30, 2025, accounting for 66% and 67% of total revenues, respectively[169]. - Advanced Materials and Chemicals revenues increased by $11 million (15%) to $82 million for the three months and by $28 million (14%) to $231 million for the nine months ended September 30, 2025[169]. Cost and Expenses - Kodak has faced increased manufacturing costs due to tariffs on imported goods, particularly aluminum, but has largely mitigated these costs through pricing actions and supplier negotiations[171]. - Gross profit for Q3 2025 improved by $23 million to $68 million, primarily due to better pricing and lower aluminum costs, despite higher manufacturing costs in Print[186][189]. - Selling, general and administrative expenses decreased by $3 million in Q3 2025, attributed to lower litigation-related costs compared to the prior year[192]. - Kodak recorded restructuring costs of $1 million and $12 million for the three and nine months ended September 30, 2025, respectively[217]. - The restructuring actions implemented in 2025 are expected to generate future annual cash savings of approximately $17 million, reducing SG&A expenses, Cost of revenues, and R&D costs[218]. Cash Flow and Liquidity - Kodak ended the quarter with a cash balance of $168 million, a decrease of $33 million from December 31, 2024[219]. - Cash, cash equivalents, and restricted cash balances were $271 million as of September 30, 2025, down from $301 million at December 31, 2024[242]. - Net cash used in operating activities for the nine months ended September 30, 2025, was $(9) million, an improvement of $2 million compared to $(11) million in the same period of 2024[243]. - Net cash used in financing activities decreased by $18 million to $(3) million for the nine months ended September 30, 2025, primarily due to a $17 million prepayment in the prior year[245]. - Kodak's plans to return to sustainable positive cash flow include generating profitable revenues and reducing operating expenses[232]. Strategic Initiatives - Kodak plans to expand its manufacturing capabilities for EV battery materials and diagnostic test reagents, leveraging its existing chemical manufacturing expertise[185]. - The company aims to capitalize on its intellectual property through new business opportunities in 3D printing materials and printed electronics markets[185]. - Kodak has implemented measures to address supply chain disruptions, including increasing safety stock and certifying additional sources of materials[178]. - The company has filed petitions for anti-dumping and countervailing duties on imported plates from China and Japan, resulting in significant duties imposed on these imports[179]. Market Conditions and Challenges - The company is actively monitoring global economic conditions, including inflation and geopolitical issues, which have led to revenue declines and increased manufacturing costs[170]. - Kodak's ability to offset higher costs and secure raw materials remains uncertain due to ongoing global economic changes and supply chain challenges[183]. - Kodak's digital plate products are facing challenges from higher raw material prices and competitive pricing pressures[185]. - Kodak's operations in Israel and Russia have been minimally impacted, with less than 1% of total consolidated revenue and assets affected by the conflicts in these regions[180][182]. - The Advanced Materials and Chemicals segment has experienced labor shortages and increased demand for consumer film products, leading to backorders despite capital investments to increase capacity[177]. Investments and Impairments - Kodak's investment in Wildcat Discovery Technologies resulted in an impairment charge of $17 million in Q2 2025 and an additional $4 million in Q3 2025 due to strategic options being contemplated by Wildcat[185]. - Kodak expects to receive approximately $600 million from the KRIP reversion, consisting of $450 million in cash and the remainder in non-cash assets[238]. - The company plans to use $300 million of the expected $450 million from the KRIP reversion to pay down Term Loans[240]. Operational Performance - Operational EBITDA for the Print segment improved by $17 million to $8 million for the three months ended September 30, 2025, due to favorable pricing and lower costs[207]. - Advanced Materials and Chemicals segment's Operational EBITDA increased by $10 million to $16 million for the three months ended September 30, 2025, reflecting improved pricing and volume[212]. - The Advanced Materials and Chemicals segment's Operational EBITDA as a percentage of revenues improved to 20% for the three months ended September 30, 2025, compared to 8% in the prior year[209]. Pension and Liabilities - Kodak's pension income excluding service cost component decreased by $26 million in Q3 2025 compared to the prior year, due to lower expected returns on assets[195]. - The company anticipates that the undiscounted actuarial liability for workers' compensation obligations will continue to decline, averaging a decrease of $5 million per year from 2014 to 2024[247]. Accounting and Compliance - The Company has not made any material changes to its critical accounting policies or estimates since December 31, 2024[254]. - Kodak is exposed to fluctuations between the U.S. dollar and other currencies due to its operations in many foreign countries[255]. - Volatility in global financial markets could increase foreign currency exchange rate volatility, impacting sales and net income[255].

Core Insights - Eastman Kodak Company held its Third-Quarter 2025 Earnings Conference Call, indicating a focus on financial performance and strategic direction [1] Financial Performance - The company reported its earnings for the third quarter of 2025, highlighting key financial metrics and performance indicators [1] Strategic Direction - The conference call likely included discussions on future strategies and initiatives aimed at enhancing growth and profitability [1]

Core Insights - Eastman Kodak Company has encountered significant financial difficulties, leading to a recent going concern warning [1] Financial Challenges - The company has faced a series of financial challenges over the past month [1] - Management has taken proactive measures to address these challenges [1]

Core Insights - Eastman Kodak Company has encountered significant financial difficulties, leading to a recent going concern warning [1] Financial Challenges - The company has been proactive in addressing its financial issues over the past year [1]

Core Insights - Ateios Systems and Kodak are collaborating to innovate battery manufacturing through high-speed, solvent-free electrode production [1] Company Overview - The partnership aims to redefine the battery manufacturing process, focusing on efficiency and sustainability [1] Industry Impact - This development is expected to enhance the overall production capabilities within the battery industry, potentially leading to lower costs and improved performance of batteries [1]

Group 1 - Kodak has launched a line of retro-inspired digital toy cameras called the Kodak Charra, which shoot both photos and videos and include vintage filters and custom frames [1] - The cameras are sold in blind boxes, with a single camera priced at $29.99 and the full set at $179.94, but the full set is already sold out on Kodak's website [2] - Despite the nostalgic appeal of the new product line, Kodak's latest earnings report indicates substantial doubt about its ability to continue operations [3]

Core Insights - Kodak has launched a retro-style digital toy camera named "Charmera," inspired by the 1980s, which has gained significant consumer interest due to its nostalgic design and blind box sales model [1] - Despite facing financial difficulties, the Charmera camera has successfully tapped into Generation Z's love for retro trends and collectible blind boxes, providing a positive signal for the company [1] - Due to high demand, the shipping of the camera will be delayed by 1 to 10 business days, with some regions potentially facing unavailability notifications due to stock shortages [1]

Core Insights - Eastman Kodak has launched a new line of digital toy cameras called "Kodak Charmera," which has quickly sold out, indicating strong consumer interest and nostalgia for vintage photography [1][3][6] - The Charmera cameras are marketed as fashion accessories and come in various styles, appealing to Gen Z's interest in vintage aesthetics and blind box purchasing [2][6][7] - Despite the initial success of the Charmera, Kodak is facing significant financial challenges, including a recent net loss of $26 million and concerns about its ability to continue operations [4][5] Product Details - The Kodak Charmera cameras weigh 30 grams and measure 2.2 inches, available in seven styles with filters that mimic vintage film photography [2] - The cameras are sold in blind box packaging, with a price of $29.99 for a single camera or $179.94 for a complete color set [2] Financial Context - Kodak's second-quarter earnings report indicated a substantial financial loss, with a 200% decrease from the previous year's net income [4] - The company is also dealing with significant debt obligations and has plans to terminate its retirement pension plan to raise funds [5] Market Trends - The success of the Charmera aligns with a broader trend identified by The Global Wellness Institute, which highlights "analog wellness" as a key trend for 2025, reflecting a growing interest in pre-digital technology [6] - Kodak's selling strategy is similar to that of Pop Mart, which has successfully engaged Gen Z consumers through collectible toys [7]