SECAUCUS, N.J., Aug. 22, 2025 (GLOBE NEWSWIRE) -- The Children’s Place, Inc. (Nasdaq: PLCE), the largest pure-play children’s specialty retailer in North America with an omni-channel portfolio of brands and an industry-leading digital-first model, today announced that their second quarter fiscal 2025 financial results will be released on Friday, September 5, 2025 at approximately 4:30 p.m. Eastern Time, which can be accessed at https://corporate.childrensplace.com/. About The Children’s Place The Children’s ...

Core Viewpoint - The Children's Place, Inc. has announced a multi-season collaboration with Sanrio, launching a series of limited-edition capsule collections featuring Hello Kitty and Friends, aimed at connecting generations through playful fashion [1][3]. Company Overview - The Children's Place is the largest pure-play children's specialty retailer in North America, operating an omni-channel portfolio and a digital-first model [1][6]. - The company has a global retail and wholesale network that includes 495 stores in North America and distribution in 12 countries through international franchise partners [6]. Collaboration Details - The collaboration will feature themed drops that blend the charm of Hello Kitty with The Children's Place's quality and playful spirit, celebrating seasonal milestones [2][3]. - The first full capsule collection, "Perfect Paris," will launch on September 11, 2025, followed by additional collections through Spring 2026 [4][5]. Product Highlights - The collections will include: - "Perfect Paris," inspired by Hello Kitty's global aesthetic, featuring cozy textures and playful details for transitional weather [5]. - "Trick or Treat with Hello Kitty and Friends," designed for Halloween 2025, focusing on stylish and fun apparel [5]. - "Forever Fancy," a holiday collection with festive designs [5]. - "Galentine's with Hello Kitty and Friends," emphasizing friendship and self-expression for Spring 2026 [5]. Brand Philosophy - The partnership aims to inspire joy and meaningful connections across generations, reflecting the core values of both brands [4][3]. - The collaboration is designed to create collectible and wearable apparel that resonates with both children and their parents, celebrating the magic of childhood [3][4].

PART I [Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements.) In Q1 2025, net sales decreased 9.6% to $242.1 million, net loss improved to $34.0 million, and a rights offering shifted equity to a positive $1.4 million, with cash flow from operations significantly improving [Consolidated Balance Sheets](index=4&type=section&id=Consolidated%20Balance%20Sheets) As of May 3, 2025, total assets were $779.6 million, with a significant shift from a stockholders' deficit of $59.4 million to a positive equity of $1.4 million, primarily due to a rights offering | Balance Sheet Highlights (in thousands) | May 3, 2025 | February 1, 2025 | May 4, 2024 | | :--- | :--- | :--- | :--- | | **Total Assets** | **$779,602** | **$747,552** | **$848,335** | | Cash and cash equivalents | $5,694 | $5,347 | $12,960 | | Inventories | $422,204 | $399,602 | $425,156 | | **Total Liabilities** | **$778,187** | **$806,963** | **$883,185** | | Revolving loan | $258,623 | $245,659 | $226,100 | | Related party long-term debt | $107,010 | $165,974 | $166,635 | | **Total Stockholders' Equity (Deficit)** | **$1,415** | **($59,411)** | **($34,850)** | - Stockholders' equity turned positive to **$1.4 million** from a deficit of **$59.4 million** at the end of the previous quarter, largely due to a **$90 million** rights offering completed in Q1 2025[10](index=10&type=chunk)[17](index=17&type=chunk) [Consolidated Statements of Operations](index=5&type=section&id=Consolidated%20Statements%20of%20Operations) In Q1 2025, net sales decreased 9.6% to $242.1 million, while the net loss improved to $34.0 million, and the operating loss narrowed to $24.1 million | Operating Results (in thousands, except EPS) | Thirteen Weeks Ended May 3, 2025 | Thirteen Weeks Ended May 4, 2024 | | :--- | :--- | :--- | | Net sales | $242,125 | $267,878 | | Gross profit | $70,783 | $92,741 | | Operating loss | ($24,117) | ($27,988) | | Net loss | ($34,023) | ($37,795) | | Loss per common share (Diluted) | ($1.57) | ($2.98) | - The diluted loss per share improved to **($1.57)** from **($2.98)** year-over-year, partly due to a higher number of weighted average shares outstanding following a rights offering[12](index=12&type=chunk)[94](index=94&type=chunk) [Consolidated Statements of Cash Flows](index=9&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) In Q1 2025, net cash used in operating activities significantly improved to **$43.0 million**, while financing activities provided **$42.3 million**, primarily from a **$90 million** rights offering | Cash Flow Summary (in thousands) | Thirteen Weeks Ended May 3, 2025 | Thirteen Weeks Ended May 4, 2024 | | :--- | :--- | :--- | | Net cash used in operating activities | ($42,958) | ($110,756) | | Net cash used in investing activities | ($3,413) | ($4,694) | | Net cash provided by financing activities | $42,298 | $114,889 | - Financing activities included **$90.0 million** in proceeds from a rights offering and a net **$12.96 million** from the revolving credit facility, offset by a **$60.2 million** repayment of a related party term loan[23](index=23&type=chunk) [Notes to Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) Key notes detail business segments, revenue recognition, debt structure, and equity changes, including a **$90 million** rights offering that made Mithaq Capital SPC a controlling stockholder with **62%** ownership, and the closure of the *Rael* lawsuit - The company operates two segments: The Children's Place U.S. (including U.S./Puerto Rico stores and U.S. wholesale) and The Children's Place International (including Canadian stores and international franchisees)[26](index=26&type=chunk)[113](index=113&type=chunk) - In February 2025, the company completed a **$90 million** rights offering, with Mithaq Capital SPC purchasing **6.7 million** shares for **$5.1 million** in cash and **$60.2 million** in debt forgiveness, gaining **62%** control of outstanding common stock[85](index=85&type=chunk)[86](index=86&type=chunk) - The company maintains a **$433 million** ABL Credit Facility and two term loans from Mithaq: an initial **$78.6 million** loan (now **$18.4 million** outstanding) and a new **$90.0 million** loan[56](index=56&type=chunk)[67](index=67&type=chunk)[68](index=68&type=chunk) - The *Rael v. The Children's Place* class action lawsuit is now closed, with the company releasing **$0.8 million** from its reserve in Q1 2025[80](index=80&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=27&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations.) Management attributes the **9.6%** net sales decline to macroeconomic pressures, resulting in a **540 basis point** gross margin contraction, while operating loss narrowed due to reduced one-time costs, and total liquidity of **$84.4 million** is deemed sufficient [Results of Operations](index=29&type=section&id=Results%20of%20Operations) Net sales decreased **9.6%** to **$242.1 million** in Q1 2025, with gross margin contracting **540 basis points** to **29.2%**, while SG&A expenses decreased due to reduced one-time costs - Net sales decreased by **$25.8 million (9.6%)** year-over-year, driven by lower e-commerce sales due to increased shipping minimums and reduced traffic/conversion, as well as lower brick-and-mortar revenue from fewer stores[138](index=138&type=chunk) - Gross margin decreased by **540 basis points** to **29.2%**, caused by a higher penetration of lower-margin wholesale sales and increased markdown activity[139](index=139&type=chunk) - SG&A expenses decreased significantly due to a reduction in one-time costs from Q1 2024 related to a change of control, with adjusted SG&A at **$86.5 million**, representing the lowest Q1 level in over 15 years[141](index=141&type=chunk) - The Children's Place U.S. segment net sales decreased **9.9%** to **$221.8 million**, while The Children's Place International segment net sales decreased **6.1%** to **$20.4 million**[148](index=148&type=chunk)[149](index=149&type=chunk) [Liquidity and Capital Resources](index=31&type=section&id=Liquidity%20and%20Capital%20Resources) As of May 3, 2025, total liquidity was **$84.4 million**, comprising **$38.7 million** from the ABL Credit Facility, **$40.0 million** from the Mithaq Credit Facility, and **$5.7 million** in cash, with management expecting sufficient funds for the next twelve months - Total liquidity was **$84.4 million** as of May 3, 2025, including availability under the ABL and Mithaq credit facilities and cash on hand[157](index=157&type=chunk) - Cash used in operating activities improved to **$43.0 million** in Q1 2025 from **$110.8 million** in Q1 2024, mainly due to a smaller increase in inventory and the paydown of past-due accounts payable in the prior year[160](index=160&type=chunk) - The company has a **$250.0 million** share repurchase program with **$156.5 million** remaining, but its use is currently restricted by covenants in its credit agreement[159](index=159&type=chunk) | ABL Credit Facility Status (in millions) | May 3, 2025 | February 1, 2025 | May 4, 2024 | | :--- | :--- | :--- | :--- | | Maximum borrowing availability | $315.5 | $301.9 | $286.0 | | Outstanding borrowings | $258.6 | $245.7 | $226.1 | | Availability | $38.7 | $40.2 | $47.7 | [Quantitative and Qualitative Disclosures About Market Risk](index=37&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk.) The company faces primary market risks from interest rate fluctuations on its variable-rate ABL Credit Facility and New Mithaq Term Loan, foreign currency exchange movements in Canada and Hong Kong, and significant supply chain dependencies on foreign imports - The company is exposed to interest rate risk on its **$258.6 million** of borrowings under the ABL Credit Facility and its **$90.0 million** New Mithaq Term Loan, as both bear interest at variable rates based on SOFR[195](index=195&type=chunk)[196](index=196&type=chunk) - Foreign currency exchange risk exists for operations in Canada and Hong Kong, where a hypothetical **10%** change in exchange rates would impact Q1 2025 net sales by approximately **$1.8 million** and total costs by **$2.2 million**[202](index=202&type=chunk) - The company is exposed to geopolitical and supply chain risks by importing the majority of its merchandise from countries including Bangladesh, Vietnam, India, Kenya, Ethiopia, China, and Indonesia[203](index=203&type=chunk) [Controls and Procedures](index=39&type=section&id=Item%204.%20Controls%20and%20Procedures.) As of May 3, 2025, management concluded that disclosure controls and procedures were effective, with no material changes to internal control over financial reporting during the quarter - Management, including the Principal Executive Officer and Principal Financial Officer, concluded that the company's disclosure controls and procedures were effective as of May 3, 2025[206](index=206&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that have materially affected, or are reasonably likely to materially affect, these controls[207](index=207&type=chunk) PART II [Legal Proceedings](index=40&type=section&id=Item%201.%20Legal%20Proceedings.) The *Rael v. The Children's Place* class action lawsuit is closed, while the *Gabriela Gonzalez v. The Children's Place* case and related arbitration claims remain ongoing, with no expected material adverse effect - The *Rael v. The Children's Place, Inc.* class action lawsuit is considered closed following the final distribution of merchandise vouchers in March 2025[80](index=80&type=chunk) - The company is defending against the *Gabriela Gonzalez v. The Children's Place, Inc.* class action and a related mass arbitration claim concerning its advertising practices, with management not currently expecting a material adverse effect on its financial position[81](index=81&type=chunk)[82](index=82&type=chunk) [Issuer Purchases of Equity Securities](index=40&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds.) The company has a **$156.5 million** share repurchase program, currently restricted by credit agreement covenants, and repurchased **14,725** shares at **$5.76** per share in Q1 2025 for tax withholding obligations - There is **$156.5 million** remaining under the company's authorized share repurchase program, but its execution is currently restricted by heightened payment conditions in the ABL Credit Facility agreement[212](index=212&type=chunk) | Share Repurchase Activity (Q1 2025) | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | February 2025 | 0 | N/A | | March 2025 | 14,725 | $5.76 | | April 2025 | 0 | N/A | | **Total** | **14,725** | **$5.76** |

Financial Performance - Net sales decreased by $25.8 million, or 9.6%, to $242.1 million for Q1 2025 compared to $267.9 million in Q1 2024[4] - Comparable retail sales fell by 13.6% for the quarter, primarily due to a decline in e-commerce revenue[5] - Gross profit decreased by $21.9 million to $70.8 million, with gross margin dropping 540 basis points to 29.2%[6] - The operating loss was $(24.1) million, an improvement from $(28.0) million in the prior year[8] - Net loss was $(34.0) million, or $(1.57) per diluted share, compared to $(37.8) million, or $(2.98) per diluted share in Q1 2024[11] - Adjusted net loss per diluted common share was $1.52 for Q1 2025, compared to $1.18 for Q1 2024, indicating a deterioration in performance[26] - Gross profit decreased to $70,783,000 in Q1 2025 from $92,741,000 in Q1 2024, reflecting a decline of 23.7%[29] - The adjusted operating loss for Q1 2025 was $23,979,000, compared to $5,080,000 in Q1 2024, reflecting a significant increase in operational challenges[28] Cost Management - Selling, general, and administrative expenses were reduced to $86.7 million from $109.1 million, marking the lowest level in over 15 years for Q1[7] - Selling, general and administrative expenses were $86,670,000 in Q1 2025, down from $109,094,000 in Q1 2024, a reduction of 20.5%[29] Liquidity and Cash Flow - As of May 3, 2025, the company had total liquidity of $84.4 million, including $5.7 million in cash and cash equivalents[13] - Net cash used in operating activities was $42,958,000 for Q1 2025, compared to $110,756,000 for Q1 2024, indicating a significant improvement in cash flow management[34] - The company experienced a net cash increase of $347,000 in Q1 2025, contrasting with a decrease of $679,000 in Q1 2024[34] Inventory and Assets - Inventories were $422.2 million, slightly down from $425.2 million a year earlier, reflecting a shift in product strategy[14] - The total current assets increased to $500,609,000 as of May 3, 2025, from $468,004,000 as of February 1, 2025, showing a growth of 6.0%[31] - Total liabilities decreased to $778,187,000 as of May 3, 2025, from $806,963,000 as of February 1, 2025, a reduction of 3.5%[31] Future Plans - The company plans to open new stores in the latter half of 2025 and introduce new product offerings, including licensing partnerships[3] - The company is focused on improving inventory turns and reducing inefficient SG&A spending to enhance long-term growth[3] Overall Performance - The Children's Place reported a net loss of $34,023,000 for the first quarter ended May 3, 2025, compared to a net loss of $37,795,000 for the same period in 2024, representing a 7.3% improvement[26] - The weighted average common shares outstanding were retroactively adjusted by a factor of 1.002 due to the completion of the rights offering on February 6, 2025[27]

Core Viewpoint - The Children's Place, Inc. reported a challenging first fiscal quarter for 2025, with significant declines in net sales and gross profit, primarily due to macroeconomic pressures and changes in shipping thresholds impacting e-commerce sales [2][3][5]. Financial Performance - Net sales decreased by $25.8 million, or 9.6%, to $242.1 million compared to $267.9 million in the same period last year [3][23]. - Comparable retail sales fell by 13.6%, largely driven by a decrease in e-commerce revenue [4]. - Gross profit decreased by $21.9 million to $70.8 million, with gross margin dropping 540 basis points to 29.2% [5][29]. - Selling, general, and administrative expenses were reduced to $86.7 million from $109.1 million, marking the lowest level in over 15 years for the first quarter [6][10]. Operational Insights - The company experienced an operating loss of $(24.1) million, an improvement from $(28.0) million in the prior year [7]. - Adjusted net loss was $(32.8) million, or $(1.52) per diluted share, compared to $(14.9) million, or $(1.18) per diluted share, in the same period last year [10][26]. Inventory and Cash Flow - Inventory levels were $422.2 million, slightly down from $425.2 million a year ago, reflecting a shift in product strategy [13]. - As of May 3, 2025, the company had total liquidity of $84.4 million, with $5.7 million in cash and cash equivalents [12]. Strategic Outlook - The company plans to focus on improving inventory turns, streamlining productivity, and reducing SG&A spending while entering the back-to-school selling season with a more balanced inventory [2]. - Future initiatives include a revitalized loyalty program, new product offerings, and innovative marketing strategies to attract new customers [2].

Core Insights - The Children's Place, Inc. is expected to report a quarterly loss of 51 cents per share and revenue of $260.62 million for the first quarter, down from $267.88 million a year earlier [1] - In the fourth quarter, net sales fell 10.2% year-over-year to $408.6 million from $455.0 million [2] - The company's shares increased by 3.6% to close at $6.59 [2] Analyst Ratings - UBS analyst Jay Sole maintained a Neutral rating and reduced the price target from $11 to $9 [5] - Telsey Advisory Group analyst Dana Telsey kept a Market Perform rating with a price target of $9 [5] - B. Riley Securities analyst Jeff Lick upgraded the stock from Sell to Neutral and lowered the price target from $12 to $7 [5]

Company Overview - The Children's Place, Inc. is the largest pure-play children's specialty retailer in North America with an omni-channel portfolio of brands and an industry-leading digital-first model [2] - The company operates a global retail and wholesale network that includes two digital storefronts and 495 stores in North America, along with distribution in 13 countries through six international franchise partners [2] - The Children's Place designs, contracts to manufacture, and sells fashionable, high-quality, head-to-toe outfits predominantly at value prices, primarily under its proprietary brands: "The Children's Place", "Gymboree", "Sugar & Jade", and "PJ Place" [2] Financial Announcement - The Children's Place will release its first quarter fiscal 2025 financial results on June 6, 2025, at approximately 4:30 p.m. Eastern Time [1]

Store Operations - As of February 1, 2025, the company operated a total of 495 stores, a decrease from 523 stores as of February 3, 2024, with 431 stores in the United States, 58 in Canada, and 6 in Puerto Rico[45][46]. E-commerce Strategy - E-commerce sales are a strategic priority, with the company enhancing its online presence through partnerships, including a collaboration with SHEIN announced on October 30, 2024[48]. Financial Performance - The company reported a net sales distribution for Fiscal 2024, with the first quarter accounting for 19.3%, the second quarter 23.1%, the third quarter 28.1%, and the fourth quarter 29.5%[52]. - The operating income for Fiscal 2024 showed a loss of $27,988 thousand in the first quarter, a loss of $21,776 thousand in the second quarter, a profit of $29,258 thousand in the third quarter, and a profit of $6,805 thousand in the fourth quarter[52]. Customer Loyalty - Approximately 85% of sales at the end of Fiscal 2024 were attributed to members of the MyPLACE Rewards loyalty program and private label credit card program[54]. Sourcing and Supply Chain - The company has a diversified sourcing strategy, with Bangladesh and Vietnam accounting for more than 15% of production, sourcing primarily from a network of vendors in Asia and Africa[36]. - The company emphasizes a responsible sourcing program to ensure safe working conditions and compliance with local laws in its supply chain[38][41]. - The company imports a majority of its merchandise from countries including Bangladesh, Vietnam, and China, making it susceptible to changes in foreign trade and currency policies[286]. Distribution and Operations - The company operates a 700,000 square foot distribution center in Alabama, supporting retail, e-commerce, and wholesale operations in the U.S. and Canada[55]. Brand Development - The company launched new brands, including Sugar & Jade in November 2021 and PJ Place in October 2022, targeting specific market segments[53]. Marketing Strategy - The company’s marketing strategy includes a focus on digital channels and partnerships to enhance customer engagement and retention[37][54]. Intellectual Property - The Children's Place acquired certain intellectual property and related assets of Gymboree Group, Inc., including the worldwide rights to the names "Gymboree" and "Crazy 8" during Q1 of fiscal year 2019[57]. Debt and Liabilities - As of February 1, 2025, the company had $245.7 million in borrowings under its ABL Credit Facility, with interest rates tied to the prime rate plus 2.000% or SOFR plus 0.1000%[278]. - The New Mithaq Term Loan has an outstanding balance of $108.4 million as of February 6, 2025, with interest charged at SOFR plus 4.000% per annum[280]. - As of February 1, 2025, net liabilities in Canada and Hong Kong amounted to $22.2 million, with a 10% change in foreign currency exchange rates potentially impacting net investment by $2.2 million[282]. Currency Impact - A 10% change in foreign currency exchange rates could have resulted in a $10.8 million change in net sales and a $14.5 million change in total costs and expenses for Fiscal 2024[285]. - The average translation rate for the Canadian dollar was 0.7252 for the fiscal year ended February 1, 2025, compared to 0.7414 for the previous year[284]. Compliance and Regulations - The company is subject to extensive federal, state, and international laws and regulations affecting product safety and consumer protection, and believes it is in material compliance[58]. Cash Holdings - The company has cash and cash equivalents of $3.7 million held in foreign subsidiaries as of February 1, 2025[283]. Ownership Structure - The Children's Place is classified as a "controlled company" due to Mithaq's ownership of more than 50% of its outstanding shares[64].

Core Viewpoint - Children's Place (NASDAQ: PLCE) has released its latest quarterly results unexpectedly after market close on April 11, 2025, ahead of the official earnings season [1] Group 1: Company Performance - The timing of the earnings release may raise questions regarding the company's financial health and strategic decisions [1] Group 2: Market Context - The earnings season is set to officially begin the following week, making the early release of results by Children's Place particularly notable [1]

Financial Performance - Net sales for the fourth quarter were $409 million, a decrease of $46.4 million or 10.2% compared to the same period last year[6]. - For the full year, net sales decreased by $216.2 million or 13.5% to $1.386 billion, driven by declines in e-commerce and brick-and-mortar sales[14]. - Net sales for the fourth quarter ended February 1, 2025, were $408.562 million, a decrease of 10.2% compared to $455.034 million for the same period in 2024[34]. - For the fiscal year ended February 3, 2024, net sales were $1.386 billion, down from $1.602 billion in the previous fiscal year, representing a decline of 13.5%[34]. Profitability - Gross profit margin improved to 29% for the fourth quarter and 33% for the full year, reflecting a significant increase from previous periods[1]. - Adjusted net income for the full year was $5.5 million, a significant turnaround from an adjusted net loss of $(103.3) million in the prior year[20]. - The net loss for the fourth quarter was $7.990 million, significantly improved from a net loss of $128.836 million in the same quarter last year[34]. - The adjusted operating income for the fiscal year was $52.720 million, compared to an adjusted operating loss of $32.490 million in the previous year[37]. - Net loss for the fiscal year ended February 1, 2025, was $57,819 thousand, an improvement compared to a net loss of $154,541 thousand for the fiscal year ended February 3, 2024[44]. Expenses and Cost Management - Selling, general, and administrative expenses were reduced to $100.6 million in the fourth quarter, the lowest level in over 15 years[9]. - Selling, general and administrative expenses decreased to $100.574 million in the fourth quarter, down 14.5% from $117.587 million in the prior year[34]. - The company is focused on optimizing its fleet and restructuring costs to better align with market demands and consumer preferences[30]. Liquidity and Cash Flow - The company raised $90 million through a rights offering, enhancing its liquidity position[2]. - Cash and cash equivalents decreased from $13,639 thousand at the beginning of the period to $5,347 thousand at the end of the period, a decline of approximately 60.8%[44]. - The company reported net cash used in operating activities of $117,594 thousand for the fiscal year ended February 1, 2025, compared to net cash provided by operating activities of $92,800 thousand for the previous year[44]. - Net cash provided by financing activities was $128,398 thousand for the fiscal year ended February 1, 2025, compared to net cash used in financing activities of $(68,268) thousand for the previous year[44]. Store Operations - The company opened its first new store in over two years during the fourth quarter, while closing 16 stores, ending the year with 495 stores[21]. - Comparable retail sales decreased by 15.3% for the quarter, primarily due to a planned reduction in e-commerce revenue[7]. Strategic Initiatives - The company plans to enhance its omni-channel strategy and improve its product mix to drive profitable sales in fiscal 2025[4]. - The company plans to continue its strategic initiatives to enhance operational efficiencies and improve sales margins despite ongoing market challenges[30]. Balance Sheet - Total assets decreased from $800,308 thousand in February 3, 2024, to $747,552 thousand in February 1, 2025, representing a decline of approximately 6.6%[40]. - Total liabilities remained relatively stable, decreasing slightly from $809,327 thousand in February 3, 2024, to $806,963 thousand in February 1, 2025[40]. - Total current liabilities decreased from $616,404 thousand in February 3, 2024, to $518,118 thousand in February 1, 2025, a reduction of approximately 16%[40]. - The company’s stockholders' deficit increased from $(9,019) thousand in February 3, 2024, to $(59,411) thousand in February 1, 2025[40]. - The number of shares of common stock outstanding increased from 12,782 thousand to 22,013 thousand post-rights offering[43].