[PART I — FINANCIAL INFORMATION](index=4&type=section&id=PART%20I.%20%E2%80%94%20FINANCIAL%20INFORMATION) This section presents the company's condensed consolidated financial statements and related disclosures [Item 1. Condensed Consolidated Financial Statements](index=4&type=section&id=Item%201.%20Condensed%20Consolidated%20Financial%20Statements) The financial statements show decreased assets, increased net loss, and significant cash reduction, raising going concern doubts [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets decreased to $48.3 million, driven by a significant cash drop, while liabilities and equity remained stable Condensed Consolidated Balance Sheet Highlights (in thousands of USD) | Balance Sheet Item | June 30, 2025 (unaudited) | December 31, 2024 | | :--- | :--- | :--- | | **Assets** | | | | Cash | $2,207 | $8,002 | | Total current assets | $27,903 | $32,198 | | Total assets | $48,268 | $53,425 | | **Liabilities & Equity** | | | | Total current liabilities | $29,218 | $19,704 | | Total liabilities | $41,388 | $44,446 | | Total stockholders' equity | $6,880 | $6,494 | | **Total liabilities and stockholders' equity** | **$48,268** | **$53,425** | [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Net losses increased to $21.2 million for the six months, driven by higher operating expenses despite a slight revenue increase Statements of Operations Summary (in thousands of USD, except per share data) | Metric | Q2 2025 | Q2 2024 | 6 Months 2025 | 6 Months 2024 | | :--- | :--- | :--- | :--- | :--- | | Total revenue, net | $2,979 | $2,721 | $5,193 | $5,072 | | Total operating expenses | $10,986 | $9,918 | $22,621 | $20,484 | | Loss from operations | $(8,007) | $(7,197) | $(17,428) | $(15,412) | | Net loss | $(10,560) | $(9,628) | $(21,156) | $(18,996) | | Net loss per share | $(10.26) | $(2.66) | $(26.78) | $(7.80) | [Condensed Consolidated Statements of Cash Flows](index=11&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Cash decreased by $5.8 million, with $13.5 million used in operations and reduced financing activities Cash Flow Summary for Six Months Ended June 30 (in thousands of USD) | Cash Flow Activity | 2025 | 2024 | | :--- | :--- | :--- | | Net cash used in operating activities | $(13,509) | $(15,217) | | Net cash used in investing activities | $0 | $(16) | | Net cash provided by financing activities | $7,621 | $24,842 | | **Net increase (decrease) in cash** | **$(5,795)** | **$9,580** | | Cash at beginning of period | $8,002 | $6,469 | | **Cash at end of period** | **$2,207** | **$16,049** | [Notes to Condensed Consolidated Financial Statements](index=13&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Notes detail a going concern warning, revenue concentration, debt instruments, and equity transactions - The company has incurred recurring operating losses and has an accumulated deficit of **$367.4 million** as of June 30, 2025. Management has substantial doubt about the company's ability to continue as a going concern as current cash balances are not sufficient to fund operations for the next year[37](index=37&type=chunk)[38](index=38&type=chunk) - The company is highly dependent on two major customers, which accounted for **58%** and **30%** of total revenue for the three months ended June 30, 2025[53](index=53&type=chunk) - The company manages its operations through two segments: human health and animal health, with the human health segment focused on developing and commercializing products like Mytesi[36](index=36&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=78&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses plant-based medicines, OnTarget trial results, Gelclair launch, and critical liquidity concerns [Overview](index=78&type=section&id=Overview) Jaguar Health focuses on plant-based GI medicines, with mixed OnTarget trial results, a new Gelclair launch, and orphan disease development - The OnTarget Phase 3 clinical trial for prophylaxis of diarrhea in adult cancer patients did not meet its primary endpoint for all tumor types, but a prespecified subgroup analysis of breast cancer patients showed **statistical significance**[341](index=341&type=chunk) - The company entered into an exclusive 5-year in-license agreement for Gelclair, a prescription product for oral mucositis, and initiated its commercial launch in October 2024 to expand its cancer-related supportive care offerings[345](index=345&type=chunk) - Napo Therapeutics, a subsidiary, is focused on expanding crofelemer access in Europe for orphan diseases, initially targeting Short Bowel Syndrome (SBS-IF) and Microvillus Inclusion Disease (MVID)[346](index=346&type=chunk) [Results of Operations](index=91&type=section&id=Results%20of%20Operations) Revenue slightly increased, but operating expenses rose significantly due to sales and marketing for Gelclair, widening the operating loss Comparison of Results for Six Months Ended June 30 (in thousands of USD) | Item | 2025 | 2024 | Variance | Variance % | | :--- | :--- | :--- | :--- | :--- | | Total revenue | $5,193 | $5,072 | $121 | 2.4% | | Cost of product revenue | $1,042 | $857 | $185 | 21.6% | | Research and development | $6,995 | $7,965 | $(970) | (12.2)% | | Sales and marketing | $4,960 | $2,967 | $1,993 | 67.2% | | General and administrative | $9,624 | $8,695 | $929 | 10.7% | | Loss from operations | $(17,428) | $(15,412) | $(2,016) | 13.1% | | Net loss | $(21,156) | $(18,996) | $(2,160) | 11.4% | - The increase in Sales and Marketing expense was primarily due to a **$1.1 million** increase in personnel costs and a **$0.7 million** increase in direct marketing fees to support the Gelclair launch[414](index=414&type=chunk)[418](index=418&type=chunk) - The decrease in Research and Development expense was largely due to a **$0.9 million** reduction in clinical and contract manufacturing costs as the Phase 3 OnTarget Clinical Trial concluded[413](index=413&type=chunk)[415](index=415&type=chunk) [Liquidity and Capital Resources](index=103&type=section&id=Liquidity%20and%20Capital%20Resources) Cash reserves are critically low at $2.2 million, insufficient for future operations, necessitating additional funding to avoid curtailing activities - As of June 30, 2025, the company had cash of **$2.2 million** and an accumulated deficit of **$367.4 million**[438](index=438&type=chunk)[439](index=439&type=chunk) - Management acknowledges that current capital resources are not sufficient to fund the operating plan for at least one year, and if additional financing is not obtained, the company will need to curtail planned activities and reduce costs[439](index=439&type=chunk)[441](index=441&type=chunk) Cash Flow Summary for Six Months Ended June 30 (in thousands of USD) | Cash Flow Activity | 2025 | 2024 | | :--- | :--- | :--- | | Net cash used in operating activities | $(13,509) | $(15,217) | | Net cash provided by financing activities | $7,621 | $24,842 | | Net increase (decrease) in cash | $(5,795) | $9,580 | [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=107&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company states that quantitative and qualitative disclosures about market risk are not applicable - The company states that quantitative and qualitative disclosures about market risk are not applicable[458](index=458&type=chunk) [Item 4. Controls and Procedures](index=107&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and internal control over financial reporting were effective as of June 30, 2025 - Based on an evaluation as of June 30, 2025, the CEO and Principal Financial and Accounting Officer concluded that the company's disclosure controls and procedures were effective[460](index=460&type=chunk) - Management concluded that as of June 30, 2025, the company's internal control over financial reporting was effective based on the COSO 2013 framework[461](index=461&type=chunk) [PART II — OTHER INFORMATION](index=109&type=section&id=PART%20II.%20%E2%80%94%20OTHER%20INFORMATION) This section provides additional information including legal proceedings, risk factors, and equity security sales [Item 1. Legal Proceedings](index=109&type=section&id=Item%201.%20Legal%20Proceedings) The company is not currently subject to any material legal proceedings, though it may encounter routine legal actions - The company is not currently subject to any material legal proceedings[463](index=463&type=chunk) [Item 1A. Risk Factors](index=109&type=section&id=Item%201A.%20Risk%20Factors) Key risks include substantial minimum royalty payments starting in 2026 and potential FDA review delays impacting product approvals - The company's royalty interests require minimum royalty payments, totaling approximately **$36.0 million**, which will commence in 2026, potentially straining cash resources regardless of product sales levels[467](index=467&type=chunk)[468](index=468&type=chunk) - Disruptions at the FDA, including layoffs and the departure of senior scientists, could lead to slower review cycles and delayed approvals for the company's product candidates, materially harming the business[469](index=469&type=chunk)[472](index=472&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=111&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company conducted several unregistered equity sales, including common and preferred stock exchanges for debt, and issued warrants and convertible notes - Issued common stock and Series L and M Preferred Stock in multiple transactions to Iliad and Streeterville in exchange for reductions of outstanding royalty interest debt[473](index=473&type=chunk)[475](index=475&type=chunk)[480](index=480&type=chunk) - In a private placement on May 20, 2025, issued unregistered warrants to purchase up to **492,612** shares of common stock to institutional investors[476](index=476&type=chunk) - On June 24, 2025, completed a private exchange of approximately **$2.57 million** of new convertible promissory notes and new warrants for existing convertible notes[477](index=477&type=chunk)[478](index=478&type=chunk) [Item 6. Exhibits](index=114&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Quarterly Report on Form 10-Q, including certificates, warrants, agreements, and officer certifications

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 ☐ 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: 001-36338 22nd Century Group, Inc. (Exact name of registrant as specified in its charter) Nevada 98-0468420 (S ...

Exhibit 99.1 Aeries Technology, Inc. Reports Results for the Full Fiscal Year 2025 Beats Core Adjusted EBITDA Guidance, North America Revenue Up 15% Year-Over-Year. NEW YORK, July 02, 2025 - Aeries Technology, Inc. ("Aeries" or "the Company") (Nasdaq: AERT), a global leader in AI-enabled value creation, business transformation, and Global Capability Center (GCC) delivery for private equity (PE) portfolio companies, today announced financial results for the fiscal year ended March 31, 2025. As previously com ...

Financial Performance - Aeries Technology reported fiscal year 2025 revenues of $70.2 million, a decrease of 3.2% from $72.5 million in fiscal year 2024[4] - The company achieved a Core Adjusted EBITDA of $7.4 million for fiscal year 2025, representing a 365% increase compared to $1.6 million in fiscal year 2024[6] - Aeries experienced a net loss of $21.6 million in fiscal year 2025, compared to a net income of $17.3 million in fiscal year 2024[5] - Adjusted EBITDA for fiscal year 2025 was $(4.7) million, down from $9.2 million in fiscal year 2024[6] - Aeries has reiterated its revenue guidance for fiscal year 2026, projecting between $74 million and $80 million[7] - The company expects Adjusted EBITDA for fiscal year 2026 to be between $6 million and $8 million[7] Market Focus and Strategy - Aeries has exited non-core geographies, including the Middle East, to focus on its core North American market[3] - The company plans to discontinue reporting Core Adjusted EBITDA as a financial metric starting in FY2026, focusing instead on Adjusted EBITDA and GAAP results[2] Profitability and Margins - The gross profit margin for fiscal year 2025 was 24%, down from 30% in fiscal year 2024[16] Cash Flow and Assets - Cash and Cash Equivalents increased by 33% from $2,084 million in 2024 to $2,764 million in 2025[22] - Net cash used in operating activities decreased by 77%, from $(4,299) million in 2024 to $(1,009) million in 2025[22] - Total current assets decreased by 35% from $32,836 million in 2024 to $21,327 million in 2025[24] - Accounts receivable decreased significantly by 54% from $23,757 million in 2024 to $10,982 million in 2025[24] - Operating right-of-use assets increased by 31% from $7,318 million in 2024 to $9,602 million in 2025[24] - Deferred tax assets increased by 110% from $1,933 million in 2024 to $4,064 million in 2025[24] Liabilities and Shareholder Equity - Total liabilities decreased by 9% from $50,587 million in 2024 to $45,937 million in 2025[24] - Shareholders' deficit improved from $(12,240) million in 2024 to $(5,804) million in 2025, a reduction of 53%[24] Financing Activities - Net cash provided by financing activities decreased by 66%, from $7,056 million in 2024 to $2,432 million in 2025[22] Exchange Rate Effects - Effects of exchange rates on cash improved significantly by 280%, from $(64) million in 2024 to $115 million in 2025[22]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 6‑K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a‑16 OR 15d‑16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of August 2025 LG Display Co., Ltd. (Translation of Registrant's name into English) LG Twin Towers, 128 Yeoui‑daero, Yeongdeungpo‑gu, Seoul 07336, Republic of Korea (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20 ...

[Executive Summary & Q2 2025 Financial Highlights](index=1&type=section&id=Executive%20Summary%20%26%20Q2%202025%20Financial%20Highlights) [Second Quarter 2025 Summary Results](index=1&type=section&id=Second%20Quarter%202025%20Summary%20Results) QXO reported a basic and diluted loss per common share of $(0.15) and adjusted diluted EPS (non-GAAP) of $0.11, with net sales of $1,906.4 million and adjusted EBITDA of $204.6 million Second Quarter 2025 Summary Results (Millions of USD, except per share data) | Metric (Millions of USD, except per share data) | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | | :---------------------------------------------- | :------------------------------- | :------------------------------- | | Net Sales | $1,906.4 | $14.5 | | Gross Profit | $401.7 | $5.8 | | Adjusted Gross Profit | $482.0 | $5.8 | | Gross Margin | 21.1 % | 40.0 % | | Adjusted Gross Margin | 25.3 % | 40.0 % | | Net Loss | $(58.5) | $(0.6) | | Net Margin | (3.1)% | (4.1)% | | Adjusted EBITDA | $204.6 | $(1.2) | | Adjusted EBITDA Margin | 10.7 % | (8.3)% | | Adjusted Net Income | $109.2 | N/M | | Basic and Diluted Loss Per Common Share | $(0.15) | N/M | | Adjusted Diluted EPS | $0.11 | N/M | [Second Quarter Highlights](index=1&type=section&id=Second%20Quarter%20Highlights) QXO completed the acquisition of Beacon Roofing Supply, Inc. for **$1.06 billion** on April 29, 2025, with Q2 results reflecting Beacon's operations from acquisition date to June 30 - QXO completed the acquisition of Beacon Roofing Supply, Inc. on April 29, 2025, for a total purchase price of **$1.06 billion**, financed through cash, debt, and equity[5](index=5&type=chunk) - Second quarter operating financial results include Beacon's operating data only from the acquisition completion date of April 29, 2025, through June 30[6](index=6&type=chunk) Second Quarter Highlights (Millions of USD) | Metric | Amount (Millions of USD) | | :--------------------- | :----------------------- | | Net Sales | $1,910 | | Adjusted Gross Margin | 25.3% | | Adjusted Net Income | $109.2 | | Adjusted Diluted EPS | $0.11 | | Adjusted EBITDA | $204.6 | | Adjusted EBITDA Margin | 10.7% | [Management Commentary](index=1&type=section&id=Management%20Commentary) QXO Chairman and CEO Brad Jacobs noted smooth integration of Beacon, identifying opportunities beyond initial expectations, and initiated a transformation plan targeting **$50 billion** in annual revenue within a decade - Beacon's integration is progressing smoothly, revealing opportunities exceeding initial expectations[4](index=4&type=chunk) - The company has made key strategic hires and launched an extensive transformation plan focusing on pricing, procurement, sales, organizational structure, logistics, and other core performance drivers[4](index=4&type=chunk) - The company is confident in organically at least doubling Beacon's original EBITDA and has set a long-term goal of **$50 billion** in annual revenue within the next decade[4](index=4&type=chunk) [Financing Update](index=2&type=section&id=Financing%20Update) QXO raised **$970 million** through debt and equity offerings in Q2, repaid **$140 million** in term loans, and reported net debt of approximately **$120 million** as of June 30, 2025 - In the second quarter, the company raised **$490 million** through debt and an additional **$480 million** through common stock and mandatory convertible preferred stock offerings[8](index=8&type=chunk) - Subsequently, the company repaid **$140 million** of its term loan[8](index=8&type=chunk) - As of June 30, 2025, the company's net debt was approximately **$120 million**[8](index=8&type=chunk) [Company Overview](index=2&type=section&id=Company%20Overview) [About QXO](index=2&type=section&id=About%20QXO) QXO is North America's largest publicly traded distributor of roofing, waterproofing, and related building products, aiming to be a technology-enabled leader in the **$800 billion** building products distribution industry and achieve **$50 billion** in annual revenue within a decade - QXO is North America's largest publicly traded distributor of roofing, waterproofing, and related building products[9](index=9&type=chunk) - The company plans to be a technology-enabled leader in the **$800 billion** building products distribution industry and create outsized value for shareholders[9](index=9&type=chunk) - The company is executing its strategy to achieve **$50 billion** in annual revenue within the next decade through accretive acquisitions and organic growth[9](index=9&type=chunk) [Non-GAAP Financial Measures](index=2&type=section&id=Non-GAAP%20Financial%20Measures) [Definition and Rationale](index=2&type=section&id=Definition%20and%20Rationale) QXO provides definitions and reconciliations for non-GAAP financial measures, including Adjusted Gross Profit, Adjusted Net Income, and Adjusted EBITDA, which management uses to assess ongoing performance by excluding items not reflective of core operations - QXO's non-GAAP financial measures include: Adjusted Gross Profit, Adjusted Gross Margin, Adjusted Net Income, Adjusted Diluted EPS, Adjusted EBITDA, and Adjusted EBITDA Margin[11](index=11&type=chunk) - Management uses these non-GAAP financial measures for financial, operational, and planning decisions, and to evaluate QXO's ongoing performance[13](index=13&type=chunk) - These metrics exclude items that may not reflect or be indicative of QXO's core operating performance, helping investors compare with prior periods and assess business trends[13](index=13&type=chunk) [Forward-Looking Statements & Risk Factors](index=2&type=section&id=Forward-Looking%20Statements%20%26%20Risk%20Factors) [Forward-Looking Statements](index=2&type=section&id=Forward-Looking%20Statements) This press release contains forward-looking statements based on management's assumptions and analysis of historical trends and future developments, subject to known and unknown risks and uncertainties that could cause actual results to differ materially - This press release contains forward-looking statements as defined under the Securities Act of 1933 and the Securities Exchange Act of 1934[14](index=14&type=chunk) - These statements are based on management's certain assumptions and analysis of historical trends, current conditions, and expected future developments[14](index=14&type=chunk) - Forward-looking statements are subject to known and unknown risks, uncertainties, and assumptions that could cause actual results, activity levels, performance, or achievements to differ materially from those expressed or implied by such statements[15](index=15&type=chunk) [Risk Factors](index=2&type=section&id=Risk%20Factors) The company faces risks including product supply, supplier pricing, acquisition integration, industry demand fluctuations, economic conditions, IT system security, talent retention, debt obligations, and reliance on key management - Insufficient product supply could lead to lost revenue, reduced profits, and damaged customer relationships[15](index=15&type=chunk) - Changes in supplier pricing and demand, and variations in supplier rebates, could adversely affect revenue and gross margins[15](index=15&type=chunk) - Inability to identify potential acquisition targets or successfully complete acquisitions, and risks associated with the Beacon acquisition, including failure to fully realize anticipated benefits or integration difficulties[15](index=15&type=chunk)[17](index=17&type=chunk) - Demand in the building products distribution industry may soften or shift significantly due to cyclicality or reliance on macroeconomic and political conditions, including inflation, interest rates, labor and supply shortages, weather, and commodity prices[15](index=15&type=chunk) - Risks to the proper functioning of IT systems (including cybersecurity threats and AI usage), and the risk of losing key talent or inability to attract and retain new qualified talent[17](index=17&type=chunk) - Risks related to debt obligations from the Beacon acquisition, and the company's high reliance on the continued leadership of Chairman and CEO Brad Jacobs[17](index=17&type=chunk) [Condensed Consolidated Financial Statements](index=5&type=section&id=Condensed%20Consolidated%20Financial%20Statements) [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) QXO reported net sales of **$1,906.4 million**, gross profit of **$401.7 million**, and a net loss of **$(58.5) million** for Q2 2025, showing significant growth compared to Q2 2024 primarily due to the Beacon acquisition Condensed Consolidated Statements of Operations (Millions of USD, except per share data) | Metric (Millions of USD, except per share data) | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :---------------------------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Net Sales | $1,906.4 | $14.5 | $1,919.8 | $29.0 | | Cost of Products Sold | $1,504.7 | $8.7 | $1,512.8 | $17.5 | | Gross Profit | $401.7 | $5.8 | $407.0 | $11.5 | | Total Operating Expenses | $563.8 | $10.1 | $608.5 | $15.6 | | Operating Loss | $(162.1) | $(4.3) | $(201.5) | $(4.1) | | Interest (Expense) Income, Net | $(30.2) | $3.5 | $26.4 | $3.4 | | Loss on Debt Extinguishment | $(45.7) | — | $(45.7) | — | | Loss Before Income Taxes | $(236.3) | $(0.8) | $(219.1) | $(0.7) | | Income Tax Benefit | $(177.8) | $(0.2) | $(169.3) | $(0.2) | | Net Loss | $(58.5) | $(0.6) | $(49.8) | $(0.5) | | Basic and Diluted Loss Per Common Share | $(0.15) | $(9.93) | $(0.19) | $(9.72) | [Condensed Consolidated Balance Sheets](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of June 30, 2025, QXO's total assets significantly increased to **$17,114.2 million** from **$5,098.3 million** at December 31, 2024, driven by the Beacon acquisition, with total liabilities rising to **$7,198.9 million** and total stockholders' equity to **$9,915.3 million** Condensed Consolidated Balance Sheets (Millions of USD) | Metric (Millions of USD) | June 30, 2025 | December 31, 2024 | | :----------------------------------- | :------------ | :---------------- | | **Assets** | | | | Cash and Cash Equivalents | $2,278.5 | $5,068.5 | | Accounts Receivable, Net | $1,575.7 | $2.7 | | Inventories, Net | $1,849.6 | — | | Total Current Assets | $6,494.8 | $5,089.6 | | Property and Equipment, Net | $696.3 | $0.4 | | Goodwill | $5,137.9 | $1.2 | | Intangible Assets, Net | $4,003.8 | $4.0 | | Total Assets | $17,114.2 | $5,098.3 | | **Liabilities and Stockholders' Equity** | | | | Accounts Payable | $1,426.9 | $6.2 | | Accrued Expenses | $585.7 | $38.6 | | Total Current Liabilities | $2,165.4 | $45.1 | | Long-Term Debt, Net | $3,051.5 | — | | Deferred Income Tax Liabilities, Net | $1,042.3 | — | | Total Liabilities | $7,198.9 | $45.4 | | Mandatory Convertible Preferred Stock | $558.1 | — | | Convertible Preferred Stock | $498.6 | $498.6 | | Additional Paid-in Capital | $8,965.8 | $4,560.5 | | Retained Earnings (Accumulated Deficit) | $(104.1) | $(6.2) | | Total Stockholders' Equity | $9,915.3 | $5,052.9 | | Total Liabilities and Stockholders' Equity | $17,114.2 | $5,098.3 | [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) For the six months ended June 30, 2025, QXO reported net cash outflow from operating activities of **$(137.7) million**, net cash outflow from investing activities of **$(10,575.4) million** primarily due to business acquisitions, and net cash inflow from financing activities of **$7,923.7 million** from stock issuances Condensed Consolidated Statements of Cash Flows (Millions of USD) | Cash Flow Activities (Millions of USD) | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :------------------------------------- | :----------------------------- | :----------------------------- | | Net Cash Outflow from Operating Activities | $(137.7) | $(0.7) | | Net Cash Outflow from Investing Activities | $(10,575.4) | $(0.1) | | Net Cash Inflow from Financing Activities | $7,923.7 | $965.9 | | Effect of Exchange Rate Changes | $(0.3) | — | | Net (Decrease) Increase in Cash and Cash Equivalents | $(2,789.7) | $965.1 | | Cash and Cash Equivalents at Beginning of Period | $5,072.0 | $6.2 | | Cash and Cash Equivalents at End of Period | $2,282.3 | $971.3 | - Net cash outflow from investing activities was primarily due to business acquisitions, totaling **$(10,556.5) million**[23](index=23&type=chunk) - Net cash inflow from financing activities primarily resulted from the issuance of common stock (**$4,218.4 million**) and mandatory convertible preferred stock (**$558.1 million**)[23](index=23&type=chunk) [Sales by Line of Business](index=8&type=section&id=Sales%20by%20Line%20of%20Business) [Three Months Ended June 30, 2025](index=8&type=section&id=Three%20Months%20Ended%20June%2030%2C%202025) In Q2 2025, QXO's net sales reached **$1,906.4 million**, with residential roofing products contributing **48.7%**, non-residential roofing products **28.1%**, and complementary building products **22.4%** Sales by Line of Business (Millions of USD, Percentage %) | Line of Business | 2025 Net Sales (Millions of USD) | Percentage % | 2024 Net Sales (Millions of USD) | Percentage % | | :---------------------------- | :------------------------------- | :----------- | :------------------------------- | :----------- | | Residential Roofing Products | $929.8 | 48.7 % | $— | 0.0 % | | Non-Residential Roofing Products | $535.5 | 28.1 % | $— | 0.0 % | | Complementary Building Products | $426.1 | 22.4 % | $— | 0.0 % | | Software Products and Services | $15.0 | 0.8 % | $14.5 | 100.0 % | | **Total Net Sales** | **$1,906.4** | **100.0 %** | **$14.5** | **100.0 %** | [Six Months Ended June 30, 2025](index=8&type=section&id=Six%20Months%20Ended%20June%2030%2C%202025) For the six months ended June 30, 2025, QXO's total net sales were **$1,919.8 million**, with residential roofing products as the primary revenue source at **48.5%**, followed by non-residential roofing products at **27.9%** Sales by Line of Business (Millions of USD, Percentage %) | Line of Business | 2025 Net Sales (Millions of USD) | Percentage % | 2024 Net Sales (Millions of USD) | Percentage % | | :---------------------------- | :------------------------------- | :----------- | :------------------------------- | :----------- | | Residential Roofing Products | $929.8 | 48.5 % | $— | 0.0 % | | Non-Residential Roofing Products | $535.5 | 27.9 % | $— | 0.0 % | | Complementary Building Products | $426.1 | 22.2 % | $— | 0.0 % | | Software Products and Services | $28.4 | 1.4 % | $29.0 | 100.0 % | | **Total Net Sales** | **$1,919.8** | **100.0 %** | **$29.0** | **100.0 %** | [Reconciliation of Non-GAAP Measures](index=9&type=section&id=Reconciliation%20of%20Non-GAAP%20Measures) [Adjusted Gross Profit and Adjusted Gross Profit Margin](index=9&type=section&id=Adjusted%20Gross%20Profit%20and%20Adjusted%20Gross%20Profit%20Margin) QXO reconciled gross profit and gross margin to adjusted gross profit of **$482.0 million** and adjusted gross margin of **25.3%** for Q2 2025, primarily by excluding **$80.3 million** in inventory fair value adjustments Adjusted Gross Profit and Adjusted Gross Profit Margin (Millions of USD, except percentages) | Metric (Millions of USD, except percentages) | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :----------------------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Gross Profit | $401.7 | $5.8 | $407.0 | $11.5 | | Inventory Fair Value Adjustment | $80.3 | — | $80.3 | — | | **Adjusted Gross Profit** | **$482.0** | **$5.8** | **$487.3** | **$11.5** | | Net Sales | $1,906.4 | $14.5 | $1,919.8 | $29.0 | | Gross Margin | 21.1 % | 40.0 % | 21.2 % | 39.7 % | | **Adjusted Gross Margin** | **25.3 %** | **40.0 %** | **25.4 %** | **39.7 %** | - The inventory fair value adjustment resulted from recording inventory at fair value during the business acquisition and is expected to be fully recognized within the year ending December 31, 2025[30](index=30&type=chunk) [Adjusted Net Income and Adjusted Diluted EPS](index=10&type=section&id=Adjusted%20Net%20Income%20and%20Adjusted%20Diluted%20EPS) QXO reconciled net loss and diluted loss per common share to adjusted net income of **$109.2 million** and adjusted diluted EPS of **$0.11** for Q2 2025, after adjustments for amortization, stock-based compensation, debt extinguishment, and other items Adjusted Net Income and Adjusted Diluted EPS (Millions of USD, except per share data) | Metric (Millions of USD, except per share data) | Three Months Ended June 30, 2025 | Six Months Ended June 30, 2025 | | :---------------------------------------------- | :------------------------------- | :----------------------------- | | Net Loss | $(58.5) | $(49.8) | | Loss Before Income Taxes | $(236.3) | $(219.1) | | Amortization | $79.8 | $80.0 | | Stock-Based Compensation | $65.0 | $85.2 | | Loss on Debt Extinguishment | $45.7 | $45.7 | | Restructuring Costs | $35.3 | $35.3 | | Transaction Costs | $65.6 | $75.5 | | Transformation Costs | $11.8 | $11.8 | | Inventory Fair Value Adjustment | $80.3 | $80.3 | | Adjusted Income Before Income Taxes | $147.2 | $194.7 | | Income Tax Impact of Adjusting Items | $38.0 | $50.3 | | **Adjusted Net Income** | **$109.2** | **$144.4** | | Convertible Preferred Stock Dividends | $(22.5) | $(45.0) | | Mandatory Convertible Preferred Stock Dividends | $(3.1) | $(3.1) | | Adjusted Net Income Attributable to Common Stockholders | $83.6 | $96.3 | | Basic and Diluted Loss Per Common Share | $(0.15) | $(0.19) | | **Adjusted Diluted EPS** | **$0.11** | **$0.17** | | Adjusted Diluted Weighted-Average Common Shares Outstanding | 702.0 | 580.6 | - The effective tax rate for adjusted net income (loss) is **25.84%**, influenced by certain tax benefits on adjusted income (loss) before income taxes[32](index=32&type=chunk) [Adjusted EBITDA and Adjusted EBITDA Margin](index=11&type=section&id=Adjusted%20EBITDA%20and%20Adjusted%20EBITDA%20Margin) QXO reconciled net loss to adjusted EBITDA of **$204.6 million** and adjusted EBITDA margin of **10.7%** for Q2 2025, after adjustments for depreciation, amortization, stock-based compensation, interest expense, debt extinguishment, and other items Adjusted EBITDA and Adjusted EBITDA Margin (Millions of USD, except percentages) | Metric (Millions of USD, except percentages) | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :----------------------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Net Loss | $(58.5) | $(0.6) | $(49.8) | $(0.5) | | Depreciation | $27.2 | $0.1 | $27.3 | $0.2 | | Amortization | $79.8 | $0.2 | $80.0 | $0.4 | | Stock-Based Compensation | $65.0 | — | $85.2 | — | | Interest Expense (Income), Net | $30.2 | $(3.5) | $(26.4) | $(3.4) | | Loss on Debt Extinguishment | $45.7 | — | $45.7 | — | | Income Tax Benefit | $(177.8) | $(0.2) | $(169.3) | $(0.2) | | Restructuring Costs | $35.3 | $2.8 | $35.3 | $2.8 | | Transaction Costs | $65.6 | — | $75.5 | — | | Transformation Costs | $11.8 | — | $11.8 | — | | Inventory Fair Value Adjustment | $80.3 | — | $80.3 | — | | **Adjusted EBITDA** | **$204.6** | **$(1.2)** | **$195.6** | **$(0.7)** | | Net Sales | $1,906.4 | $14.5 | $1,919.8 | $29.0 | | Net Margin | (3.1)% | (4.1)% | (2.6)% | (1.7)% | | **Adjusted EBITDA Margin** | **10.7 %** | **(8.3)%** | **10.2 %** | **(2.4)%** | - Loss on debt extinguishment resulted from the cost of extinguishing a portion of the term loan early[34](index=34&type=chunk)

Exhibit 99.1 GREENWICH, Conn. — August 14, 2025 — QXO, Inc. ("QXO" or the "Company") (NYSE: QXO) today announced its financial results for the second quarter 2025. The Company reported a basic and diluted loss per common share of $(0.15) and an Adjusted Diluted Earnings per Common Share ("Adjusted Diluted EPS"), a non-GAAP financial measure, of $0.11 for the three months ended June 30, 2025. SECOND QUARTER 2025 SUMMARY RESULTS | | | | Three Months Ended June 30, | | | --- | --- | --- | --- | --- | | (in mil ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION 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 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to _________________ Commission File No. 001-41478 ADDENTAX GROUP CORP. (Exact name of registrant as specified in its charter) Washington, D.C. 20549 (State or other jurisdiction of ...

Exhibit 99.1 22nd Century Group Reports Second Quarter 2025 Financial Results VLN® Early Adoption Commercial Activity Expands with Two Partner Brand Launches in Progress – Smoker Friendly and Pinnacle Commenced Pinnacle VLN® Stocking Shipments for Almost 1,000 Locations of Top-5 C-Store Customer, Additional Locations to Come Significantly Expanded State Authorizations for both Reduced Nicotine Content and Conventional Products High Margin Branded Products Business Model Set to Grow Profitably MOCKSVILLE, N. ...

[Overview of Second Quarter 2025 Results](index=1&type=section&id=Overview%20of%20Second%20Quarter%202025%20Results) [Key Highlights & Management Comments](index=1&type=section&id=Key%20Highlights%20%26%20Management%20Comments) Battalion Oil successfully completed its 2025 six-well drilling plan ahead of schedule and under budget, with new wells showing strong initial production. However, the company faces a significant operational challenge due to the abrupt shutdown of its primary acid gas injection (AGI) facility, forcing a temporary shut-in of production - Completed the 2025 six-well drilling plan, with the final two wells in the West Quito area drilled ahead of schedule and approximately **$1.0 million per well under budget**[2](index=2&type=chunk) - Initial production rates from the new wells are outperforming legacy offset wells, which have also seen increased production due to positive frac interference[2](index=2&type=chunk) - The Acid Gas Injection (AGI) facility, which treated an average of **24 MMcf/d**, ceased operations on August 11, 2025, citing economic non-viability. This has forced the company to temporarily shut in some production and seek alternative gas processing solutions[3](index=3&type=chunk) [Financial & Operating Performance](index=1&type=section&id=Financial%20%26%20Operating%20Performance) Q2 2025 revenue decreased to $42.8 million from $49.1 million year-over-year due to lower realized prices, despite a slight production increase to 12,989 Boe/d, resulting in a $3.5 million net loss to common stockholders Q2 2025 vs Q2 2024 Key Financial Metrics | Metric | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | **Total Operating Revenue** | $42.8 million | $49.1 million | | **Average Daily Production** | 12,989 Boe/d | 12,857 Boe/d | | **Net Loss to Common Stockholders** | $3.5 million | $8.7 million | | **Adjusted EBITDA** | $18.1 million | $15.6 million | - The decrease in revenue was primarily due to a **$5.93 decrease per Boe** in average realized prices (excluding hedges), partially offset by a **132 Boe/d production increase**[4](index=4&type=chunk) Operating Expenses per Boe (YoY Comparison) | Expense Category | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | **Lease operating and workover** | $10.98 | $10.22 | | **Gathering and other** | $9.27 | $10.36 | | **General and administrative** | $2.17 | $2.85 | [Liquidity and Balance Sheet](index=3&type=section&id=Liquidity%20and%20Balance%20Sheet) As of June 30, 2025, Battalion Oil reported $44.6 million in cash and cash equivalents, with $219.4 million in outstanding term loan indebtedness Liquidity Position as of June 30, 2025 | Metric | Amount | | :--- | :--- | | **Cash and cash equivalents** | $44.6 million | | **Term loan indebtedness** | $219.4 million | [Financial Statements](index=5&type=section&id=Financial%20Statements) [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Q2 2025 total operating revenues were $42.8 million, leading to a net income of $4.8 million, significantly improved from a prior-year net loss, but resulting in a $3.5 million net loss to common stockholders after preferred dividends Q2 2025 Statement of Operations Highlights (in thousands) | Metric | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | **Total operating revenues** | $42,812 | $49,104 | | **(Loss) income from operations** | $(153) | $5,120 | | **Net gain on derivative contracts** | $11,548 | $1,223 | | **Net income (loss)** | $4,796 | $(105) | | **Net loss available to common stockholders** | $(3,474) | $(8,691) | | **Diluted net loss per share** | $(0.21) | $(0.53) | [Condensed Consolidated Balance Sheets](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of June 30, 2025, total assets increased to $498.8 million, driven by higher cash and oil/gas properties, while total liabilities rose to $306.4 million, shifting stockholders' equity to a $5.2 million deficit Balance Sheet Summary (in thousands) | Metric | June 30, 2025 | Dec 31, 2024 | | :--- | :--- | :--- | | **Cash and cash equivalents** | $44,621 | $19,712 | | **Total current assets** | $83,462 | $54,052 | | **Net oil and natural gas properties** | $402,327 | $368,005 | | **Total assets** | $498,781 | $431,048 | | **Total current liabilities** | $90,042 | $77,664 | | **Long-term debt, net** | $191,467 | $145,535 | | **Total stockholders' (deficit) equity** | $(5,236) | $4,120 | [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operating activities significantly decreased to $10.2 million in Q2 2025, while investing activities used $33.4 million, and financing activities provided $55.4 million for the first six months Cash Flow Summary for Three Months Ended June 30 (in thousands) | Metric | 2025 | 2024 | | :--- | :--- | :--- | | **Net cash provided by operating activities** | $10,205 | $29,824 | | **Net cash used in investing activities** | $(33,362) | $(13,857) | | **Net cash (used in) provided by financing activities** | $(5,790) | $(10,478) | | **Net (decrease) increase in cash** | $(28,947) | $5,489 | [Supplemental Information](index=8&type=section&id=Supplemental%20Information) [Selected Operating Data](index=8&type=section&id=Selected%20Operating%20Data) Q2 2025 average daily production slightly increased to 12,989 Boe/d, while crude oil prices dropped, yet post-hedge total realized price per Boe rose, and adjusted total operating costs per Boe decreased Q2 Production Volumes | Production | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | **Crude oil (MBbls)** | 584 | 577 | | **Natural gas (MMcf)** | 2,136 | 1,929 | | **Total (MBoe)** | 1,182 | 1,170 | | **Average daily production (Boe/d)** | 12,989 | 12,857 | Q2 Average Prices per Unit | Price | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | **Crude oil (per Bbl)** | $62.14 | $79.20 | | **Total per Boe (pre-hedge)** | $36.02 | $41.95 | | **Total per Boe (post-hedge)** | $39.66 | $39.21 | Q2 Average Costs per Boe | Cost | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | **Lease operating** | $9.03 | $9.41 | | **Gathering and other** | $9.27 | $10.36 | | **General and administrative (adjusted)** | $2.11 | $2.49 | | **Total operating costs (adjusted)** | $24.49 | $25.93 | [Non-GAAP Reconciliations](index=9&type=section&id=Non-GAAP%20Reconciliations) This section provides detailed reconciliations of GAAP to non-GAAP measures, clarifying adjusted net loss and Adjusted EBITDA by removing non-cash and non-recurring items for a clearer operational performance view [Reconciliation of Net Loss to Adjusted Net Loss](index=9&type=section&id=Reconciliation%20of%20Net%20Loss%20to%20Adjusted%20Net%20Loss) Q2 2025 reported net loss of $3.5 million was adjusted to a $10.6 million net loss, or ($0.65) per share, primarily by excluding a $7.2 million non-cash unrealized derivative gain Adjusted Net Loss Reconciliation for Q2 2025 (in thousands) | Metric | Amount | | :--- | :--- | | **Net loss available to common stockholders** | $(3,474) | | **Unrealized gain on derivatives** | $(7,248) | | **Non-recurring charges** | $73 | | **Adjusted net loss available to common stockholders** | $(10,649) | | **Adjusted diluted net loss per share** | $(0.65) | [Adjusted EBITDA Reconciliation](index=10&type=section&id=Adjusted%20EBITDA%20Reconciliation) Adjusted EBITDA for Q2 2025 increased to $18.1 million, with the Last Twelve Months (LTM) Adjusted EBITDA reaching $64.7 million as of June 30, 2025 Adjusted EBITDA Reconciliation for Q2 (in thousands) | Metric | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | **Net income (loss), as reported** | $4,796 | $(105) | | **Interest expense** | $7,341 | $7,610 | | **Depletion, depreciation and accretion** | $13,939 | $13,213 | | **Unrealized (gain) on derivatives** | $(7,248) | $(4,434) | | **Adjusted EBITDA** | $18,137 | $15,634 | - Adjusted Last Twelve Months (LTM) EBITDA as of June 30, 2025 was **$64.7 million**[30](index=30&type=chunk)