AEye (LIDR) 2025 Conference Summary Company Overview - **Company**: AEye - **Industry**: LiDAR technology for automotive and adjacent markets Key Points and Arguments Strategic Decisions and Product Development - AEye made a pivotal decision in early 2024 to separate from Continental and focus on developing a new LiDAR product called Apollo, aimed at improving performance, cost, and size [5][6] - Apollo was integrated with NVIDIA DRIVE AGX platform, enhancing performance metrics and providing an objective view of capabilities [7][8] Market Dynamics and Opportunities - There is a growing recognition of LiDAR's essential role in the automotive industry, with significant demand expected in the next twelve months [9][12] - AEye anticipates shipping 2 to 3 million sensors in China this year, indicating a strong market presence [11] - Replacement cycles in adjacent industries, such as tolling applications, are driving demand for LiDAR due to its cost-effectiveness compared to traditional methods [13][14] Financial Position and Growth Potential - AEye has over $80 million in cash, with the lowest burn rate in the industry, providing a strong financial position to capitalize on near-term revenue opportunities [17][18] - The company expects significant returns with lower revenue thresholds due to its efficient cost structure [18] Competitive Advantages - AEye's LiDAR technology can gather 4 to 5 times more photons than competitors, allowing for a detection range of up to one kilometer [22] - The Apollo system is designed for easy integration into vehicles without extensive modifications, enhancing its appeal to OEMs [23] Partnerships and Collaborations - AEye's partnership with NVIDIA has provided substantial support, including outbound marketing and validation of their technology, which has accelerated discussions with OEMs [47][50] - The collaboration with Lite On is crucial for supply chain management and cost efficiency, allowing AEye to maintain a competitive edge [60][68] Revenue Generation and Market Strategy - AEye has secured six contracts and is in deep negotiations for 30 more, indicating a robust pipeline for future revenue [31] - The company is focusing on both automotive and non-automotive markets, with higher margins expected in non-automotive applications [61] Future Outlook and Milestones - AEye aims to ship thousands of units by 2026, with a focus on ramping revenue and customer conversions [71] Additional Important Insights - The integration of Apollo and Optus platforms allows for a comprehensive solution that combines sensing and AI capabilities, expanding AEye's addressable market [44][46] - AEye is addressing supply chain concerns proactively, ensuring resilience through strategic partnerships [66][68] - The company is focused on maintaining financial discipline and resource allocation to convert customer engagements into long-term revenue [41][43]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission file number 333-259554 Delaware 37-1827430 (State or other jurisdiction of incorporation or organization) (I.R.S. Employ ...

Core Viewpoint - AEye is a technology company focused on lidar sensor solutions for advanced driver assistance and autonomous vehicle systems, facing challenges in revenue despite commercial progress [1][5]. Company Overview and Strategic Focus - AEye develops lidar-based sensing platforms for automotive, transportation, and smart infrastructure markets, with its 4Sight™ Intelligent Sensing Platform enabling adaptive sensing capabilities [3][10]. - The company emphasizes technological differentiation, strategic partnerships, and capital-light operations, with recent product milestones and contract wins [4][11]. Financial Performance - In Q2 2025, AEye reported a revenue of $22 thousand, down 31.3% from $32 thousand in Q2 2024, despite a potential $30 million contract opportunity [2][5]. - The company experienced a gross loss of $86 thousand, with operating expenses increasing to $8.6 million from $8.1 million in Q2 2024 [6][5]. - AEye's GAAP net loss was $9.3 million, up from $8.0 million in Q1 2025, indicating ongoing financial challenges [6]. Product Development and Partnerships - AEye's Apollo lidar platform has been fully integrated into the NVIDIA DRIVE AGX Orin system, enhancing access to new OEM opportunities [7]. - The company signed six new contracts in 2025, expanding its presence in both automotive and non-automotive sectors [8]. - AEye introduced OPTIS™, a sensing solution for airport security and logistics, further diversifying its product offerings [7][11]. Outlook and Future Considerations - Management expects cash burn to remain in the $27–$29 million range for the full year 2025, with no revenue or margin guidance provided [12]. - Key areas to monitor include the conversion of commercial wins into recognizable revenue and the management of operating expenses as commercialization ramps up [13].

Financial Data and Key Metrics Changes - The company reported a GAAP net loss of $9,300,000 or $0.48 per share in Q2 2025, an increase from a net loss of $8,000,000 or $0.46 per share in Q2 2024 [22] - Non-GAAP net loss was $6,700,000 or $0.35 per share in Q2 2025, compared to a non-GAAP net loss of $5,500,000 or $0.31 per share in the prior quarter [22] - Cash burn decreased to $7,100,000 in Q2 2025 from $8,100,000 in Q1 2025, despite one-time expenses [20][22] - The company ended the quarter with cash, cash equivalents, and marketable securities of $19,200,000, which has since more than tripled [22][23] Business Line Data and Key Metrics Changes - The company has signed six revenue-generating contracts in Q2 2025, tripling the number of contract wins from two in the previous quarter [19][40] - The sales funnel has grown significantly, leading to 30 new potentially high-value customer engagements [7][19] - The launch of Optus, a next-generation platform, has been deployed to multiple customers, enhancing the company's ability to scale efficiently [7][12] Market Data and Key Metrics Changes - The company is seeing strong traction in various sectors including defense, smart infrastructure, rail, trucking, aviation, and security, indicating a diverse market presence [16][40] - The integration with NVIDIA's DRIVE AGX ecosystem is expected to accelerate OEM collaborations and expand market reach [17][30] Company Strategy and Development Direction - The company aims to transition from product development to active sales and deployment, focusing on delivering differentiated products that gain market traction [25] - The capital light financial strategy allows the company to maintain low operating costs while driving significant scale [13][20] - The focus on physical AI and the integration of third-party software solutions through Optus is expected to enhance market opportunities [12][70] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the pipeline, with over 100 potential customers actively engaged and 30 in advanced negotiations [19][60] - The company anticipates modest top-line revenue growth for the remainder of the year but emphasizes the importance of accelerating customer engagements [19] - Management highlighted the importance of maintaining a disciplined approach to capital allocation while scaling operations [23][86] Other Important Information - The company has secured a $30,000,000 opportunity with a top global transportation OEM, expected to contribute to revenue this year [6][48] - The total potential liquidity, including cash and credit facilities, is approximately $126,000,000, providing a strong foundation for future growth [23][84] Q&A Session Summary Question: Can you provide more details on the Navidion integration? - The integration with NVIDIA has positioned the company at the top of performance benchmarks, simplifying conversations with OEMs and enhancing credibility [29][30] Question: Can you elaborate on Optus and its role in the broader strategy? - Optus combines sensing and analytics, allowing for tailored AI solutions and rapid deployment across various markets, filling the gap while automotive ramps up [34][35] Question: What is the status of the customer pipeline? - The company has over 100 engaged customers, with 30 in advanced negotiations, and is seeing traction across diverse industries [40][60] Question: Are there additional deliverables for the $30,000,000 opportunity? - The company is on the customer's timeline for integration and deployment, actively working on the project [48][49] Question: Can you provide insight into the sales and marketing expenses? - The increase in sales and marketing expenses is primarily due to reallocating funds from G&A and R&D, rather than new incremental spending [53] Question: What does "physical AI" mean in the context of the company's strategy? - Physical AI refers to the interaction of AI and sensing with the real world, extending beyond automotive applications [70] Question: Is the company looking to partner with defense contractors? - The company is open to partnerships with defense contractors and is actively pursuing opportunities in that sector [76][81]

Second Quarter 2025 Earnings CEO Matt Fisch CFO Conor Tierney July 31, 2025 Disclaimer Forward-Looking Statements This presentation of AEye, Inc. ("AEye" or the "Company") includes statements that are not historical facts, but rather are forward- looking statements within the meaning of the federal securities laws, including safe harbor provisions under the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are sometimes accompanied by words such as "believe," "continue," "pro ...

AEye Reports Second Quarter 2025 Results Accelerating commercial traction: Tripled new business wins within diverse, high-growth markets PLEASANTON, Calif. – (BUSINESS WIRE) – July 31, 2025 – AEye, Inc. (Nasdaq: LIDR), a pioneer in high- performance lidar technology and creator of the Apollo lidar sensor, today announced its results for the second quarter ended June 30, 2025. Recent Business Highlights Management Commentary Matt Fisch, AEye Chief Executive Officer, said, "AEye reached a critical inflection ...

AEye stock (NASDAQ: LIDR) had a solid July, rising by close to 240% over the month, although the stock has retraced by about 12% over the last five trading days. AEye develops adaptive LiDAR (light detection and ranging) systems used to enable advanced driver-assistance systems (ADAS) and autonomous driving capabilities. So what’s been driving the surging investor interest in this micro cap name?HEFEI, CHINA - FEBRUARY 24: A resercher presents a newly-developed 77GHz millimeter-wave automotive radar chip at ...

Core Insights - AEye's stock surged nearly 50% on October 25, 2023, and has increased over 3x in a week due to a collaboration with Nvidia [2] - AEye specializes in adaptive LiDAR technology for advanced driver-assistance systems (ADAS) and autonomous vehicles [2] Company Developments - AEye's Apollo lidar sensor has been integrated into Nvidia's DRIVE AGX platform, which supports autonomous and semi-autonomous driving functionalities [3] - This integration provides AEye access to a significant ecosystem of OEMs and Tier 1 suppliers in the autonomous vehicle sector [4] Financial Performance - AEye reported trailing twelve-month revenue of only $246,000, with a significant decline in sales of 71% over the past year [5] - The company generated just $64,000 in revenue last quarter, leading to a high price-to-sales ratio of 314x compared to the S&P 500's 3.1x [5] Operational Challenges - AEye faces substantial operating losses, with a trailing operating loss of $32 million and no immediate path to profitability [5] - The partnership with Nvidia, while promising, does not guarantee commercial orders or long-term adoption, as it is not exclusive [5]

Core Viewpoint - AEye, Inc. (NASDAQ: LIDR) has experienced a significant stock surge of 240% at market open, which has since moderated to 149%, indicating strong market momentum for the company [1]. Company Summary - AEye, Inc. is a technology company that specializes in manufacturing lidar sensors, which are critical for various applications including autonomous vehicles and advanced driver-assistance systems [1]. Market Context - The surge in AEye's stock price reflects broader trends in the technology sector, particularly in the lidar and AI markets, which have been gaining traction due to increased demand for advanced sensing technologies [1].

PART I - FINANCIAL INFORMATION [Financial Statements (Unaudited)](index=5&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) For the first quarter ended March 31, 2025, AEye, Inc. reported a net loss of **$8.0 million**, an improvement from the **$10.2 million** net loss in the same period of 2024, with total assets of **$28.8 million** and total liabilities of **$11.8 million** [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of March 31, 2025, the company's total assets increased to **$28.8 million** from **$27.1 million** at year-end 2024, primarily due to an increase in marketable securities, while cash and cash equivalents decreased significantly to **$5.3 million** from **$10.3 million** Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $5,267 | $10,266 | | Marketable securities | $20,659 | $12,012 | | Total current assets | $26,962 | $25,171 | | **Total assets** | **$28,796** | **$27,120** | | **Liabilities & Equity** | | | | Total current liabilities | $10,769 | $11,307 | | **Total liabilities** | **$11,798** | **$11,996** | | **Total stockholders' equity** | **$16,998** | **$15,124** | - A new current liability for a convertible note of **$3.2 million** was recorded as of March 31, 2025[14](index=14&type=chunk) [Condensed Consolidated Statements of Operations and Comprehensive Loss](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Loss) For the three months ended March 31, 2025, revenue was minimal at **$64 thousand**, up from **$20 thousand** year-over-year, with the company significantly reducing its net loss to **$8.0 million** from **$10.2 million** in Q1 2024, driven by a **35% reduction** in total operating expenses Q1 2025 vs Q1 2024 Statement of Operations (in thousands, except per share data) | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Revenue | $64 | $20 | | Gross loss | $(32) | $(243) | | Research and development | $3,490 | $4,532 | | General and administrative | $2,895 | $5,615 | | Total operating expenses | $6,768 | $10,488 | | Loss from operations | $(6,800) | $(10,731) | | **Net loss** | **$(8,016)** | **$(10,219)** | | **Net loss per share** | **$(0.46)** | **$(1.61)** | - Weighted average shares outstanding increased significantly to **17.4 million** from **6.4 million** year-over-year, reflecting share issuances from financing activities[16](index=16&type=chunk) [Condensed Consolidated Statements of Stockholders' Equity](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Stockholders%27%20Equity) During the first quarter of 2025, stockholders' equity increased by **$1.9 million** to **$17.0 million**, primarily due to the issuance of **4.5 million shares** for **$7.8 million** and **$2.5 million** in stock-based compensation, offset by the **$8.0 million** net loss for the quarter - The company issued **4,514,023 shares** under its Common Stock Purchase Agreements for proceeds of **$7.8 million** in Q1 2025[18](index=18&type=chunk) - The accumulated deficit grew from **$373.1 million** at the end of 2024 to **$381.1 million** as of March 31, 2025, due to the quarterly net loss[18](index=18&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operating activities was **$7.8 million**, consistent with the prior year, while investing activities used **$8.6 million** due to increased purchases of marketable securities, and financing activities provided a substantial inflow of **$11.4 million** from a convertible note and common stock issuances, resulting in a net decrease in cash of **$5.0 million** Q1 2025 vs Q1 2024 Cash Flow Summary (in thousands) | Activity | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net cash used in operating activities | $(7,803) | $(7,885) | | Net cash (used in) provided by investing activities | $(8,578) | $368 | | Net cash provided by financing activities | $11,382 | $120 | | **Net decrease in cash** | **$(4,999)** | **$(7,397)** | | **Cash at end of period** | **$5,267** | **$11,685** | [Notes To Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20To%20Condensed%20Consolidated%20Financial%20Statements) Key notes highlight the company's early-stage nature, its reliance on raising capital to fund operations, and its assessment of sufficient liquidity for at least one year, with Q1 2025 activities including a **$3.24 million** convertible note issuance, a **$1.4 million** cash settlement of a lease dispute (resulting in a **$1.7 million** gain), and continued capital raising through stock purchase agreements - The company has a history of net losses and negative cash flows, with an accumulated deficit of **$381.1 million** as of March 31, 2025, but management believes its plans to raise capital and manage spending alleviate substantial doubt about its ability to continue as a going concern[29](index=29&type=chunk)[31](index=31&type=chunk)[32](index=32&type=chunk) - In January 2025, the company issued a senior unsecured convertible promissory note with a principal amount of **$3.24 million** and a warrant to purchase **805,263 shares**, for which the company elected the fair value option[62](index=62&type=chunk)[66](index=66&type=chunk) - The company settled a lease termination dispute in April 2025, involving a **$1.4 million** cash payment and a warrant for **350,000 shares**, which was treated as a subsequent event resulting in a **$1.685 million** gain recorded in Q1 2025[58](index=58&type=chunk)[90](index=90&type=chunk)[91](index=91&type=chunk) - Revenue in Q1 2025 was **$64 thousand**, entirely from development contracts with a European customer, recognized over time, compared to **$20 thousand** in Q1 2024 from prototype sales[82](index=82&type=chunk)[83](index=83&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=26&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's early-stage nature, its reliance on Tier 1 automotive suppliers like LITEON for commercialization, and the critical need to raise additional capital to fund operations, having raised **$11.1 million** in gross proceeds in Q1 2025, which contributed to a reduced net loss of **$8.0 million** for the quarter - The company is an early-stage entity with a history of losses and is dependent on raising additional capital to fund operations and achieve commercialization of its lidar solutions[96](index=96&type=chunk)[98](index=98&type=chunk) - Key strategic initiatives include leveraging its Tier 1 partner, LITEON, for automotive market entry and pursuing non-automotive opportunities, with recent partnerships announced to enter the Chinese market[100](index=100&type=chunk)[101](index=101&type=chunk) - In Q1 2025, the company raised **$11.055 million** in gross proceeds through stock purchase agreements and a convertible note issuance[99](index=99&type=chunk) - Management believes its plans to manage spending and raise capital alleviate substantial doubt about its ability to continue as a going concern for at least 12 months from the report's issuance date[145](index=145&type=chunk) [Results of Operations](index=32&type=section&id=Results%20of%20Operations) Comparing Q1 2025 to Q1 2024, revenue increased by **$44 thousand** due to development contracts, cost of revenue decreased by **63%**, and total operating expenses fell by **35%** (**$3.7 million**), driven by lower R&D costs and a **$1.7 million** gain from a lease settlement, leading to a reduced operating loss of **$6.8 million** and a net loss of **$8.0 million** Comparison of Operations for the three months ended March 31 (in thousands) | | 2025 | 2024 | Change $ | Change % | | :--- | :--- | :--- | :--- | :--- | | Revenue | $64 | $20 | $44 | 220% | | Gross loss | $(32) | $(243) | $211 | (87)% | | Research and development | $3,490 | $4,532 | $(1,042) | (23)% | | General and administrative | $2,895 | $5,615 | $(2,720) | (48)% | | Loss from operations | $(6,800) | $(10,731) | $3,931 | (37)% | | Net loss | $(8,016) | $(10,219) | $2,203 | (22)% | - The decrease in General and Administrative expenses was primarily driven by a favorable adjustment of **$1.685 million** upon the settlement of a lease dispute[125](index=125&type=chunk) - Interest expense and other increased significantly due to **$2.1 million** in costs related to new financing arrangements in Q1 2025[128](index=128&type=chunk) [Liquidity and Capital Resources](index=33&type=section&id=Liquidity%20and%20Capital%20Resources) As of March 31, 2025, the company had **$25.9 million** in cash, cash equivalents, and marketable securities, with primary liquidity sources from equity issuances, including **$11.4 million** provided by financing activities in Q1 2025, and despite ongoing losses, management believes its capital-raising plans and spending management will provide sufficient liquidity for at least the next year, though subject to "baby shelf" rules limiting capital raises - As of March 31, 2025, cash, cash equivalents, and marketable securities totaled **$25,926 thousand**[131](index=131&type=chunk) - The company has several financing facilities in place, including a Common Stock Purchase Agreement (CSPA) with New Circle and an At-The-Market (ATM) agreement with A.G.P., which provided gross proceeds of **$6.5 million** and **$8.2 million** respectively through March 31, 2025[139](index=139&type=chunk)[140](index=140&type=chunk) - In January 2025, the company issued a convertible note for an aggregate purchase price of **$3.0 million**[141](index=141&type=chunk) - The company is limited by the SEC's "baby shelf" rules, which restricts the amount it can raise through its Form S-3 shelf registration to one-third of its public float in any 12-month period, as its public float is below **$75 million**[136](index=136&type=chunk)[183](index=183&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=39&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company is exposed to market risks, primarily interest rate risk, credit risk, and foreign currency exchange risk, with interest rate risk on its cash and marketable securities considered low due to their short-term nature, credit risk concentrated with two customers, and foreign currency risk arising from euro-denominated transactions not currently hedged - **Interest Rate Risk:** A hypothetical **10% change** in interest rates is not expected to have a material impact on the company's financials due to the short-term nature of its cash and investments[161](index=161&type=chunk) - **Credit Risk:** As of March 31, 2025, two customers accounted for **10% or more** of accounts receivable[162](index=162&type=chunk) - **Foreign Currency Risk:** The company has exposure to fluctuations in the euro versus the U.S. dollar but does not currently engage in hedging activities[164](index=164&type=chunk) [Controls and Procedures](index=40&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, evaluated the company's disclosure controls and procedures and concluded they were effective as of March 31, 2025, with no material changes in internal control over financial reporting during the quarter - The Principal Executive Officer and Principal Financial Officer concluded that the company's disclosure controls and procedures were effective as of March 31, 2025[166](index=166&type=chunk) - No material changes to the internal control over financial reporting occurred during the first quarter of 2025[169](index=169&type=chunk) PART II - OTHER INFORMATION [Legal Proceedings](index=42&type=section&id=Item%201.%20Legal%20Proceedings) The company was involved in a legal dispute with the landlord of its former headquarters over an alleged breach of lease, which was settled on April 28, 2025, involving a payment of **$1.4 million** in cash and the issuance of a warrant to purchase **350,000 shares** of common stock - A complaint was filed against the company in August 2024 regarding a breach of lease for its former headquarters, with the landlord initially claiming up to **$8.5 million**[172](index=172&type=chunk) - On April 28, 2025, the dispute was settled, with the company agreeing to pay **$1,400** in cash and issue a warrant to purchase **350,000 shares** of common stock at an exercise price of **$2.22 per share**[172](index=172&type=chunk)[285](index=285&type=chunk) [Risk Factors](index=42&type=section&id=Item%201A.%20Risk%20Factors) The company faces numerous significant risks, including a history of losses and the expectation of continued losses, substantial reliance on Tier 1 automotive suppliers for market entry, and the critical need to raise additional capital, alongside uncertainties in market adoption of lidar technology, intense competition, potential supply chain disruptions, and the risk of stock price volatility and potential delisting from Nasdaq - **Financial Viability:** The company is an early-stage company with a history of losses (**$381.1 million** accumulated deficit) and expects to incur significant losses for the next few years, necessitating additional capital which may not be available on acceptable terms[177](index=177&type=chunk)[178](index=178&type=chunk)[180](index=180&type=chunk) - **Business Model Reliance:** The business substantially relies on relationships with Tier 1 automotive suppliers to secure design wins with OEMs, as highlighted by the recent termination of its program with Continental and new engagement with LITEON[175](index=175&type=chunk)[179](index=179&type=chunk) - **Market and Technology Risk:** Market adoption of lidar is uncertain and may develop more slowly than expected, with the company facing intense competition from other lidar developers and alternative technologies like cameras and radar[176](index=176&type=chunk)[211](index=211&type=chunk)[246](index=246&type=chunk) - **Supply Chain Risk:** The company relies on third-party, and sometimes single-source, suppliers for key components, making it susceptible to shortages, price fluctuations, and disruptions, particularly from international suppliers[175](index=175&type=chunk)[215](index=215&type=chunk) - **Stock and Listing Risk:** The company received a notice from Nasdaq on March 11, 2025, for non-compliance with the **$1.00** minimum bid price requirement and has until September 8, 2025, to regain compliance or face potential delisting[199](index=199&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=82&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) There were no unregistered sales of equity securities during the period - None reported for the quarter[333](index=333&type=chunk) [Defaults Upon Senior Securities](index=82&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) There were no defaults upon senior securities during the period - None reported[334](index=334&type=chunk) [Mine Safety Disclosures](index=82&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Not applicable[335](index=335&type=chunk) [Other Information](index=83&type=section&id=Item%205.%20Other%20Information) For the three months ended March 31, 2025, no director or officer of the company adopted or terminated a Rule 10b5-1 trading arrangement or a non-Rule 10b5-1 trading arrangement - No director or officer adopted or terminated a Rule 10b5-1 trading plan during the first quarter of 2025[337](index=337&type=chunk) [Exhibits](index=83&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including the company's articles of incorporation, bylaws, and certifications from the CEO and CFO as required by the Sarbanes-Oxley Act