EDITORIAL CONTACT: Exhibit 99.1 PRESS RELEASE INVESTOR CONTACT: Tushar Jain Synopsys, Inc. 650-584-4289 Synopsys-ir@synopsys.com • Quarterly revenue of $1.740 billion, up 14% year-over-year (YoY) • Quarterly GAAP earnings per diluted share of $1.50; non-GAAP earnings per diluted share of $3.39 • Results reflect the closing of Ansys acquisition on July 17, 2025 • Expecting full-year 2025 revenue between $7.03 and $7.06 billion dollars as Synopsys transformation continues "In Q3, strength in Design Automation ...

[Fiscal Year 2026 First Quarter Overview](index=1&type=section&id=Fiscal%20Year%202026%20First%20Quarter%20Overview) Oracle's Q1 FY26 results show strong Cloud revenue growth and a significant increase in Remaining Performance Obligations [Key Financial Highlights](index=1&type=section&id=1.1%20Key%20Financial%20Highlights) Oracle reported strong Q1 FY26 financial results, driven by significant Cloud revenue growth and increased Remaining Performance Obligations Key Financial Metrics | Metric | Q1 FY26 (USD) | YoY Change (USD) | YoY Change (Constant Currency) | | :-------------------------------- | :-------------- | :--------------- | :----------------------------- | | Total Remaining Performance Obligations | $455 billion | 359% | 359% | | Total Quarterly Revenues | $14.9 billion | 12% | 11% | | Cloud Revenues | $7.2 billion | 28% | 27% | | Software Revenues | $5.7 billion | (1%) | (2%) | | GAAP Operating Income | $4.3 billion | - | - | | Non-GAAP Operating Income | $6.2 billion | 9% | 7% | | GAAP Net Income | $2.9 billion | - | - | | Non-GAAP Net Income | $4.3 billion | 8% | 6% | | GAAP EPS | $1.01 | (2%) | (5%) | | Non-GAAP EPS | $1.47 | 6% | 4% | | Short-term Deferred Revenues | $12.1 billion | - | - | | LTM Operating Cash Flow | $21.5 billion | 13% | - | - Cloud Infrastructure (IaaS) Revenue grew **55% in USD** (**54% in constant currency**) to **$3.3 billion**[6](index=6&type=chunk) - Cloud Application (SaaS) Revenue grew **11% in USD** (**10% in constant currency**) to **$3.8 billion**[6](index=6&type=chunk) [Management Commentary and Strategic Outlook](index=1&type=section&id=1.2%20Management%20Commentary%20and%20Strategic%20Outlook) Management highlighted significant RPO growth driven by multi-billion dollar contracts, projected strong OCI expansion, and announced a new Oracle AI Database service - Oracle signed four multi-billion-dollar contracts in Q1, leading to a **359% increase in RPO** to **$455 billion**[5](index=5&type=chunk) - Oracle Cloud Infrastructure (OCI) revenue is projected to grow **77% to $18 billion** in FY26, and further to **$144 billion** over the subsequent four years[5](index=5&type=chunk) - MultiCloud database revenue from Amazon, Google, and Microsoft surged by **1,529% in Q1**, with plans to deliver 37 more datacenters to hyperscaler partners[5](index=5&type=chunk) - Oracle will introduce a new 'Oracle AI Database' Cloud Infrastructure service, enabling customers to use various Large Language Models directly on Oracle Database for data access and analysis[5](index=5&type=chunk) [Dividend Declaration](index=1&type=section&id=1.3%20Dividend%20Declaration) Oracle's board of directors declared a quarterly cash dividend of $0.50 per share of outstanding common stock - A quarterly cash dividend of **$0.50 per share** of common stock was declared, payable on October 23, 2025, to stockholders of record as of October 9, 2025[5](index=5&type=chunk) [Company Information and Disclosures](index=2&type=section&id=Company%20Information%20and%20Disclosures) This section provides an overview of Oracle's business, forward-looking statements, and available investor resources [About Oracle](index=2&type=section&id=2.1%20About%20Oracle) Oracle Corporation provides integrated suites of applications and secure, autonomous infrastructure within the Oracle Cloud, with trademarks including Oracle, Java, MySQL, and NetSuite - Oracle offers integrated application suites and secure, autonomous infrastructure in the Oracle Cloud[9](index=9&type=chunk) - Key trademarks include Oracle, Java, MySQL, and NetSuite, with NetSuite recognized as the first cloud company[9](index=9&type=chunk) [Safe Harbor Statement](index=2&type=section&id=2.2%20Safe%20Harbor%20Statement) The report contains forward-looking statements subject to material risks and uncertainties, including product development, cloud management, and cybersecurity concerns - Statements about future plans, expectations, and growth (e.g., RPO, OCI, MultiCloud revenue) are forward-looking and subject to risks[10](index=10&type=chunk) - Risks include developing new products, managing cloud/hardware offerings, securing datacenter capacity, coding errors, acquisitions, government contracts, economic conditions, IT failures, and cybersecurity breaches[10](index=10&type=chunk) [Additional Information and Resources](index=2&type=section&id=2.3%20Additional%20Information%20and%20Resources) Oracle provides various online resources for investors, customers, and analysts, including SEC filings, technical innovations, and analyst reports - A list of recent technical innovations and announcements is available at www.oracle.com/news/[11](index=11&type=chunk) - Industry analyst reports on Oracle's products and services can be found at www.oracle.com/corporate/analyst-reports/[11](index=11&type=chunk) - SEC filings are available online from the SEC or Oracle's Investor Relations website[10](index=10&type=chunk) [Condensed Consolidated Financial Statements (GAAP)](index=3&type=section&id=Condensed%20Consolidated%20Financial%20Statements%20(GAAP)) This section presents Oracle's GAAP financial statements, including statements of operations, balance sheets, and cash flows [Condensed Consolidated Statements of Operations](index=3&type=section&id=3.1%20Condensed%20Consolidated%20Statements%20of%20Operations) Oracle's Q1 FY26 GAAP operating income increased despite rising operating expenses, while net income remained flat and diluted EPS slightly decreased GAAP Statements of Operations (in millions USD) | Metric (in millions) | Q1 FY26 (2025) | Q1 FY25 (2024) | YoY Change (US $) | YoY Change (Constant Currency) | | :------------------- | :------------- | :------------- | :---------------- | :----------------------------- | | Total Revenues | $14,926 | $13,307 | 12% | 11% | | Cloud Revenues | $7,186 | $5,623 | 28% | 27% | | Software Revenues | $5,721 | $5,766 | (1%) | (2%) | | Total Operating Expenses | $10,649 | $9,316 | 14% | 14% | | Operating Income | $4,277 | $3,991 | 7% | 4% | | Net Income | $2,927 | $2,929 | 0% | (4%) | | Diluted EPS | $1.01 | $1.03 | (2%) | (5%) | - Cloud and software operating expenses increased by **39% to $3.607 billion**, while restructuring expenses surged by **448% to $402 million**[13](index=13&type=chunk) - Provision for income taxes increased by **108% to $500 million**, partly due to the 'One, Big, Beautiful Bill Act'[13](index=13&type=chunk) [Condensed Consolidated Balance Sheets](index=6&type=section&id=3.2%20Condensed%20Consolidated%20Balance%20Sheets) Oracle's total assets increased to **$180.4 billion** as of August 31, 2025, driven by property, plant and equipment, with a corresponding rise in total liabilities GAAP Balance Sheets (in millions USD) | Metric (in millions) | August 31, 2025 | May 31, 2025 | | :------------------- | :-------------- | :----------- | | Total Current Assets | $24,634 | $24,579 | | Property, plant and equipment, net | $53,194 | $43,522 | | Total Non-Current Assets | $155,815 | $143,782 | | TOTAL ASSETS | $180,449 | $168,361 | | Total Current Liabilities | $39,874 | $32,643 | | Total Non-Current Liabilities | $115,909 | $114,749 | | Stockholders' Equity | $24,666 | $20,969 | | TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $180,449 | $168,361 | - Property, plant and equipment, net, increased by **$9.672 billion** from May 31, 2025, to August 31, 2025[21](index=21&type=chunk) - Deferred revenues (current liability) increased by **$2.711 billion** to **$12.098 billion**[21](index=21&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=3.3%20Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Q1 FY26 saw increased net cash from operating activities, but a significant rise in capital expenditures led to a substantial increase in net cash used for investing activities GAAP Statements of Cash Flows (in millions USD) | Metric (in millions) | Q1 FY26 (2025) | Q1 FY25 (2024) | | :------------------- | :------------- | :------------- | | Net cash provided by operating activities | $8,140 | $7,427 | | Net cash used for investing activities | $(8,718) | $(2,765) | | Net cash provided by (used for) financing activities | $210 | $(4,585) | | Net (decrease) increase in cash and cash equivalents | $(341) | $162 | | Cash and cash equivalents at end of period | $10,445 | $10,616 | - Capital expenditures dramatically increased to **$8.502 billion** in Q1 FY26 from **$2.303 billion** in Q1 FY25[23](index=23&type=chunk) - Proceeds from issuances of common stock were **$1.170 billion** in Q1 FY26, compared to **$179 million** in Q1 FY25[23](index=23&type=chunk) [Non-GAAP Financial Measures and Reconciliations](index=4&type=section&id=Non-GAAP%20Financial%20Measures%20and%20Reconciliations) This section details Oracle's non-GAAP financial measures, their reconciliation to GAAP, and the rationale for their use [Reconciliation of Selected GAAP Measures to Non-GAAP Measures](index=4&type=section&id=4.1%20Reconciliation%20of%20Selected%20GAAP%20Measures%20to%20Non-GAAP%20Measures) Oracle reconciles GAAP to non-GAAP measures by adjusting for items like stock-based compensation and restructuring, resulting in higher non-GAAP operating income and net income GAAP to Non-GAAP Reconciliation (in millions USD) | Metric (in millions) | GAAP Q1 FY26 | Non-GAAP Q1 FY26 | GAAP Q1 FY25 | Non-GAAP Q1 FY25 | Non-GAAP YoY Change (US $) | Non-GAAP YoY Change (Constant Currency) | | :------------------- | :----------- | :--------------- | :----------- | :--------------- | :------------------------- | :-------------------------------------- | | Total Revenues | $14,926 | $14,926 | $13,307 | $13,307 | 12% | 11% | | Total Operating Expenses | $10,649 | $8,690 | $9,316 | $7,599 | 14% | 14% |\ | Operating Income | $4,277 | $6,236 | $3,991 | $5,708 | 9% | 7% | | Operating Margin % | 29% | 42% | 30% | 43% | (111) bp. | (144) bp. | | Net Income | $2,927 | $4,283 | $2,929 | $3,964 | 8% | 6% | | Diluted EPS | $1.01 | $1.47 | $1.03 | $1.39 | 6% | 4% | - Key adjustments for non-GAAP calculations in Q1 FY26 included **$1.124 billion** for stock-based compensation, **$420 million** for amortization of intangible assets, **$13 million** for acquisition-related and other expenses, and **$402 million** for restructuring[15](index=15&type=chunk) - The effective non-GAAP tax rate for Q1 FY26 was **20.5%**, compared to the GAAP tax rate of **14.6%**[16](index=16&type=chunk) [Free Cash Flow - Trailing 4-Quarters](index=8&type=section&id=4.2%20Free%20Cash%20Flow%20-%20Trailing%204-Quarters) Trailing 4-quarter GAAP operating cash flow grew to **$21.534 billion**, but free cash flow turned negative due to a substantial increase in capital expenditures Trailing 4-Quarters Free Cash Flow (in millions USD) | Metric (in millions) | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | | :------------------- | :------ | :------ | :------ | :------ | :------ | | GAAP Operating Cash Flow | $19,126 | $20,287 | $20,745 | $20,821 | $21,534 | | Capital Expenditures | $(7,855) | $(10,745) | $(14,933) | $(21,215) | $(27,414) | | Free Cash Flow | $11,271 | $9,542 | $5,812 | $(394) | $(5,880) | | Operating Cash Flow % Growth over prior year | 8% | 19% | 14% | 12% | 13% | | Free Cash Flow % Growth over prior year | 19% | (6%) | (53%) | (103%) | (152%) | - Free Cash Flow as a % of Net Income was **(47%)** in Q1 FY26, down from **103%** in Q1 FY25, reflecting increased capital investments[25](index=25&type=chunk) [Explanation of Non-GAAP Measures](index=11&type=section&id=4.3%20Explanation%20of%20Non-GAAP%20Measures) Oracle utilizes non-GAAP measures to present core business performance by excluding specific non-recurring or non-cash items, aiding internal evaluation and forecasting - Non-GAAP measures exclude stock-based compensation, amortization of intangible assets, acquisition-related and other expenses, restructuring expenses, and the tax impact of the 'One, Big, Beautiful Bill Act'[31](index=31&type=chunk)[32](index=32&type=chunk)[33](index=33&type=chunk)[34](index=34&type=chunk) - These adjustments are made to help understand past financial performance, future results, and to provide a framework for assessing underlying business performance[31](index=31&type=chunk) - The 'One, Big, Beautiful Bill Act' (OBBBA), signed into law on July 4, 2025, resulted in a net tax expense of **$958 million** in Q1 FY26, which is excluded from non-GAAP income taxes and net income[34](index=34&type=chunk) [Supplemental Analysis of GAAP Revenues](index=9&type=section&id=Supplemental%20Analysis%20of%20GAAP%20Revenues) This section provides a detailed breakdown of Oracle's GAAP revenues by offerings and geographic regions [Revenues by Offerings](index=9&type=section&id=5.1%20Revenues%20by%20Offerings) Oracle's total revenues grew **12%** to **$14.926 billion** in Q1 FY26, primarily driven by strong Cloud revenue growth, despite a slight decline in software revenues Revenues by Offerings (in millions USD) | Revenue Category (in millions) | Q1 FY26 | Q1 FY25 | YoY Growth (US $) | YoY Growth (Constant Currency) | | :----------------------------- | :------ | :------ | :---------------- | :----------------------------- | | Cloud | $7,186 | $5,623 | 28% | 27% | | Software license | $766 | $870 | (12%) | (13%) | | Software support | $4,955 | $4,896 | 1% | (1%) | | Software (Total) | $5,721 | $5,766 | (1%) | (2%) | | Hardware | $670 | $655 | 2% | 1% | | Services | $1,349 | $1,263 | 7% | 5% | | Total revenues | $14,926 | $13,307 | 12% | 11% | [Cloud Revenues by Offerings](index=9&type=section&id=5.2%20Cloud%20Revenues%20by%20Offerings) Cloud revenues showed robust growth, with Cloud Infrastructure (IaaS) leading at **55%** to **$3.347 billion**, complemented by Cloud Applications (SaaS) growth Cloud Revenues by Offerings (in millions USD) | Cloud Revenue Category (in millions) | Q1 FY26 | Q1 FY25 | YoY Growth (US $) | YoY Growth (Constant Currency) | | :----------------------------------- | :------ | :------ | :---------------- | :----------------------------- | | Cloud applications | $3,839 | $3,469 | 11% | 10% | | Cloud infrastructure | $3,347 | $2,154 | 55% | 54% | | Total cloud revenues | $7,186 | $5,623 | 28% | 27% | [Geographic Revenues](index=9&type=section&id=5.3%20Geographic%20Revenues) The Americas remained Oracle's largest revenue contributor with **15%** growth, while Europe/Middle East/Africa and Asia Pacific also demonstrated positive revenue increases Geographic Revenues (in millions USD) | Geographic Region (in millions) | Q1 FY26 | Q1 FY25 | YoY Growth (US $) | | :------------------------------ | :------ | :------ | :---------------- | | Americas | $9,662 | $8,372 | 15% | | Europe/Middle East/Africa | $3,481 | $3,228 | 8% | | Asia Pacific | $1,783 | $1,707 | 4% | | Total revenues | $14,926 | $13,307 | 12% |

Exhibit 99.1 Lands' End Announces Second Quarter 2025 Results Increased gross margin approximately 90 basis points Reduced inventory for the ninth consecutive quarter DODGEVILLE, Wis., September 9, 2025 (GLOBE NEWSWIRE) – Lands' End, Inc. (NASDAQ: LE) today announced financial results for the second quarter ended August 1, 2025. Andrew McLean, Chief Executive Officer, stated: "As we reflect on the past several months – including the second and into the third quarter – we're seeing clear, encouraging momentu ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) For the quarterly period ended August 2, 2025 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-41140 SAMSARA INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of inc ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended August 2, 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 001-32545 DESIGNER BRANDS INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation ...

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 July 31, 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: 001-38960 Skillsoft Corp. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporatio ...

[Executive Summary & Company Overview](index=1&type=section&id=Executive%20Summary%20%26%20Company%20Overview) [Company Introduction](index=1&type=section&id=Company%20Introduction) InnovAge Holding Corp provides comprehensive healthcare for frail seniors through the PACE program and announced its fiscal 2025 results - InnovAge (Nasdaq: INNV) is an industry leader in providing comprehensive healthcare programs to frail, predominantly dual-eligible seniors through the Program of All-inclusive Care for the Elderly (PACE)[2](index=2&type=chunk) - The company announced financial results for its fiscal fourth quarter and full year ended June 30, 2025[2](index=2&type=chunk) [CEO Statement](index=1&type=section&id=CEO%20Statement) The CEO highlighted fiscal 2025's success and expressed confidence for continued momentum into fiscal 2026 - Patrick Blair, CEO, stated that 'Fiscal 2025 was a strong year The combination of **responsible growth, financial discipline, clinical performance, and compliance execution** is what gives us confidence in the durability of our progress'[3](index=3&type=chunk) - The company expects Fiscal 2026 to continue that momentum[3](index=3&type=chunk) [Fiscal Year 2025 Financial Performance Highlights](index=1&type=section&id=Fiscal%20Year%202025%20Financial%20Performance%20Highlights) [GAAP Financial Performance](index=1&type=section&id=GAAP%20Financial%20Performance) The company reported an 11.8% revenue increase to $853.7 million but saw its net loss widen by 52% to $35.3 million | Metric | FY2025 (in millions) | FY2024 (in millions) | YoY Change (%) | | :-------------------------- | :------------------- | :------------------- | :------------- | | Total revenues | $853.7 | $763.9 | 11.8% | | Loss Before Income Taxes | $(34.0) | $(21.8) | 56.0% | | Net Loss | $(35.3) | $(23.2) | 52.0% | | Net Loss margin | (4.1)% | (3.0)% | 1.1 pp | | Net Loss per share | $(0.22) | $(0.16) | - | | Net Loss Attributable to InnovAge Holding Corp. | $(30.3) | $(21.3) | - | [Non-GAAP Financial Performance](index=2&type=section&id=Non-GAAP%20Financial%20Performance) Non-GAAP metrics showed strong growth, with Adjusted EBITDA more than doubling and participant census increasing | Metric | FY2025 (in millions) | FY2024 (in millions) | YoY Change (%) | | :-------------------------------- | :------------------- | :------------------- | :------------- | | Center-level Contribution Margin | $153.6 | $132.1 | 16.3% | | Center-level Contribution Margin as % of revenue | 18.0% | 17.3% | 0.7 pp | | Adjusted EBITDA | $34.5 | $16.5 | 109.1% | | Adjusted EBITDA margin | 4.0% | 2.2% | 1.8 pp | - Census increased to approximately **7,740 participants** in FY2025 compared to 7,020 participants in FY2024[8](index=8&type=chunk) [Fiscal Year 2026 Financial Guidance](index=2&type=section&id=Fiscal%20Year%202026%20Financial%20Guidance) The company projects FY2026 revenues of $900-$950 million and Adjusted EBITDA of $56-$65 million | Metric | Low (in millions) | High (in millions) | | :------------------ | :---------------- | :---------------- | | Census | 7,900 | 8,100 | | Total Member Months | 91,600 | 94,400 | | Total revenues | $900 | $950 | | Adjusted EBITDA | $56 | $65 | - Total Member Months are defined as the total number of participants multiplied by the number of months within a year in which each participant was enrolled in the program, serving as a precise metric for participant tracking[7](index=7&type=chunk) - The company is unable to provide guidance for net loss or a reconciliation of Adjusted EBITDA guidance due to the inherent difficulty in forecasting and quantifying certain reconciling items without unreasonable effort[7](index=7&type=chunk) [About InnovAge](index=3&type=section&id=About%20InnovAge) InnovAge is a market leader in PACE programs, serving approximately 7,740 participants across 20 centers in six states - InnovAge is a market leader in managing the care of high-cost, frail, and predominantly dual-eligible seniors through the Program of All-inclusive Care for the Elderly (PACE)[11](index=11&type=chunk) - The company's mission is to enable older adults to age independently in their own homes for as long as safely possible[11](index=11&type=chunk) - As of June 30, 2025, InnovAge served approximately **7,740 participants across 20 centers in six states**[11](index=11&type=chunk) [Forward-Looking Statements - Safe Harbor](index=3&type=section&id=Forward-Looking%20Statements%20-%20Safe%20Harbor) This section details risks and uncertainties associated with forward-looking statements and directs readers to SEC filings - Forward-looking statements are identified by specific terminology (e.g, 'anticipate,' 'expect,' 'project') and relate to future operating or financial performance, not strictly historical facts[12](index=12&type=chunk) - These statements are based on current information, beliefs, expectations, and assumptions, but are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict and outside of the company's control[13](index=13&type=chunk) - Important factors that could cause actual results to differ materially include the viability of growth strategy, ability to integrate acquisitions, macroeconomic challenges, government inspections, legal proceedings, dependence on government payors, and regulatory developments[13](index=13&type=chunk) [Note Regarding Use of Non-GAAP Financial Measures](index=4&type=section&id=Note%20Regarding%20Use%20of%20Non-GAAP%20Financial%20Measures) [Definition of Center-level Contribution Margin](index=4&type=section&id=Definition%20of%20Center-level%20Contribution%20Margin) This non-GAAP measure assesses segment performance by subtracting direct care costs from revenues - Center-level Contribution Margin is a non-GAAP measure used by management for assessing operating segment performance and allocating resources, particularly in budgeting and forecasting[16](index=16&type=chunk) - It is defined as total revenues less external provider costs and cost of care, excluding depreciation and amortization, encompassing all medical and pharmacy costs[17](index=17&type=chunk) - Sales and marketing expense or corporate, general and administrative expenses are not allocated across centers for the purpose of evaluating Center-level Contribution Margin[16](index=16&type=chunk) [Definition of Adjusted EBITDA](index=5&type=section&id=Definition%20of%20Adjusted%20EBITDA) Adjusted EBITDA is a non-GAAP measure calculated by adjusting net loss for specific non-cash and non-recurring items - Adjusted EBITDA is defined as net loss adjusted for interest expense, net, other investment income, depreciation and amortization, and provision (benefit) for income tax[18](index=18&type=chunk) - It includes addbacks for non-recurring or exceptional items such as management equity compensation, litigation costs and settlement, M&A diligence, transaction and integration, business optimization, EMR implementation, gain (loss) on cost and equity method investments, asset impairments, and loss on sale of assets[18](index=18&type=chunk) - Adjusted EBITDA margin is Adjusted EBITDA expressed as a percentage of total revenue[18](index=18&type=chunk) [Condensed Consolidated Financial Statements](index=6&type=section&id=Condensed%20Consolidated%20Financial%20Statements) [Condensed Consolidated Balance Sheets](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) The balance sheet shows total assets of $526.9 million and total stockholders' equity of $237.9 million as of June 30, 2025 | Item | June 30, 2025 (in thousands) | June 30, 2024 (in thousands) | YoY Change (in thousands) | | :-------------------------------- | :--------------------------- | :--------------------------- | :------------------------ | | Total Assets | $526,851 | $547,661 | $(20,810) | | Total Liabilities | $263,943 | $247,853 | $16,090 | | Total Stockholders' Equity | $237,898 | $277,608 | $(39,710) | | Cash and cash equivalents | $64,129 | $56,946 | $7,183 | | Accounts receivable, net | $36,373 | $48,106 | $(11,733) | | Property and equipment, net | $168,044 | $193,022 | $(24,978) | | Goodwill | $142,046 | $139,949 | $2,097 | | Accounts payable and accrued expenses | $76,750 | $55,459 | $21,291 | | Long-term debt, net | $57,464 | $61,478 | $(4,014) | [Condensed Consolidated Statements of Operations](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) The company's statement of operations reveals an increased net loss of $35.3 million on revenues of $853.7 million for FY2025 | Item | Year Ended June 30, 2025 (in thousands) | Year Ended June 30, 2024 (in thousands) | YoY Change (in thousands) | | :------------------------------------ | :-------------------------------------- | :-------------------------------------- | :------------------------ | | Total revenues | $853,699 | $763,855 | $89,844 | | Total expenses | $883,460 | $787,035 | $96,425 | | Operating Loss | $(29,761) | $(23,180) | $(6,581) | | Loss Before Income Taxes | $(34,027) | $(21,819) | $(12,208) | | Net Loss | $(35,343) | $(23,221) | $(12,122) | | Net Loss Attributable to InnovAge Holding Corp. | $(30,313) | $(21,338) | $(8,975) | | Net loss per share - basic and diluted | $(0.22) | $(0.16) | $(0.06) | [Condensed Consolidated Statements of Cash Flows](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operating activities improved significantly to $32.9 million, leading to a $7.2 million increase in total cash | Item | Year Ended June 30, 2025 (in thousands) | Year Ended June 30, 2024 (in thousands) | YoY Change (in thousands) | | :------------------------------------------ | :-------------------------------------- | :-------------------------------------- | :------------------------ | | Net cash provided by (used in) operating activities | $32,866 | $(36,898) | $69,764 | | Net cash used in investing activities | $(5,550) | $(26,373) | $20,823 | | Net cash used in financing activities | $(19,082) | $(7,034) | $(12,048) | | INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS & RESTRICTED CASH | $7,180 | $(70,305) | $77,485 | | CASH, CASH EQUIVALENTS & RESTRICTED CASH, END OF PERIOD | $64,140 | $56,960 | $7,180 | [Reconciliation of GAAP and Non-GAAP Measures](index=11&type=section&id=Reconciliation%20of%20GAAP%20and%20Non-GAAP%20Measures) [Adjusted EBITDA Reconciliation](index=11&type=section&id=Adjusted%20EBITDA%20Reconciliation) Net loss is reconciled to Adjusted EBITDA, which rose to $34.5 million in FY2025, driven by adjustments for litigation and impairments | Item | Year Ended June 30, 2025 (in thousands) | Year Ended June 30, 2024 (in thousands) | YoY Change (in thousands) | | :------------------------------------ | :-------------------------------------- | :-------------------------------------- | :------------------------ | | Net Loss | $(35,343) | $(23,221) | $(12,122) | | Interest expense, net | $4,612 | $4,023 | $589 | | Depreciation and amortization | $19,510 | $18,950 | $560 | | Provision for income tax | $1,316 | $1,402 | $(86) | | Stock-based compensation | $7,619 | $6,832 | $787 | | Litigation costs and settlement | $19,367 | $4,878 | $14,489 | | M&A diligence, transaction and integration | $1,360 | $778 | $582 | | Business optimization | $3,040 | $4,399 | $(1,359) | | EMR implementation | $0 | $3,660 | $(3,660) | | Loss (gain) on cost and equity method investments | $1,393 | $(2,842) | $4,235 | | Asset impairments and loss on assets held for sale | $13,615 | $0 | $13,615 | | Adjusted EBITDA | $34,462 | $16,474 | $17,988 | | Adjusted EBITDA margin | 4.0% | 2.2% | 1.8 pp | - Litigation costs for FY2025 include **$10.1 million accrued** in connection with the potential settlement of a previously disclosed stockholder class action[24](index=24&type=chunk) - Asset impairments for FY2025 include a **$2.6 million impairment loss** for the investment in DispatchHealth Holdings Inc and charges related to halting developments for a planned de novo center in Louisville, Kentucky[26](index=26&type=chunk)[32](index=32&type=chunk) [Center-Level Contribution Margin Reconciliation](index=13&type=section&id=Center-Level%20Contribution%20Margin%20Reconciliation) Total revenues are reconciled to Center-Level Contribution Margin, which grew to $153.6 million in FY2025 | Item | Year Ended June 30, 2025 (in thousands) | Year Ended June 30, 2024 (in thousands) | YoY Change (in thousands) | | :------------------------------------ | :-------------------------------------- | :-------------------------------------- | :------------------------ | | Total revenues | $853,699 | $763,855 | $89,844 | | External provider costs | $431,152 | $403,010 | $28,142 | | Cost of care, excluding depreciation and amortization | $268,908 | $228,781 | $40,127 | | Center-Level Contribution Margin | $153,639 | $132,064 | $21,575 | | Center-Level Contribution Margin as a % of revenue | 18.0% | 17.3% | 0.7 pp | - Capitation revenue, the primary component of total revenues, increased to **$852.35 million** in FY2025 from $762.57 million in FY2024[33](index=33&type=chunk) - The 'All other' segment, primarily Senior Housing, contributed **$0.99 million to total revenues** and **$0.42 million to Center-Level Contribution Margin** in FY2025[34](index=34&type=chunk)

[Second Quarter 2025 Results Overview](index=1&type=section&id=1.%20Second%20Quarter%202025%20Results%20Overview) [Key Financial Highlights](index=1&type=section&id=1.1.%20Key%20Financial%20Highlights) GameStop Corp reported Q2 fiscal 2025 results with significant improvements in net sales, operating income, and net income year-over-year, alongside a substantial increase in cash and digital asset holdings Key Financial Data for Q2 FY2025 | Metric | Q2 2025 (Millions $) | Q2 2024 (Millions $) | YoY Change | | :-------------------------------- | :------------------- | :------------------- | :--------- | | Net Sales | 972.2 | 798.3 | +21.8% | | SG&A Expenses | 218.8 | 270.8 | -19.2% | | Operating Income (Loss) | 66.4 | (22.0) | N/A (Turned to profit from loss) | | Adjusted Operating Income (Loss) | 64.7 | (31.6) | N/A (Turned to profit from loss) | | Net Income | 168.6 | 14.8 | +1039.2% | | Adjusted Net Income | 138.3 | 5.2 | +2560.0% | | Cash, Cash Equivalents & Marketable Securities | 8,700.0 | 4,200.0 | +107.1% | | Bitcoin Holdings | 528.6 | N/A | N/A | [Non-GAAP Measures and Other Metrics](index=1&type=section&id=2.%20Non-GAAP%20Measures%20and%20Other%20Metrics) [Definition and Purpose](index=1&type=section&id=2.1.%20Definition%20and%20Purpose) GameStop utilizes non-GAAP metrics to offer additional insight into core operating performance by excluding specific items like transformation costs and asset impairments - GameStop uses non-GAAP measures (Adjusted SG&A, Operating Income/Loss, Net Income/Loss, EPS, Adjusted EBITDA, Free Cash Flow) to supplement GAAP results, providing insight into core operating performance by excluding items like transformation costs, asset impairments, unrealized gains/losses on digital assets, and severance[5](index=5&type=chunk)[28](index=28&type=chunk)[37](index=37&type=chunk) - Free cash flow, defined as net cash flow from operating activities less capital expenditures, is considered a key financial indicator of the company's ability to generate additional cash from its business operations[5](index=5&type=chunk)[35](index=35&type=chunk) [Limitations of Non-GAAP Measures](index=13&type=section&id=2.2.%20Limitations%20of%20Non-GAAP%20Measures) Non-GAAP measures have limitations as they exclude key financial components and may not be comparable to other companies' metrics - Non-GAAP measures have limitations, including not reflecting the company's capital costs and tax structure, cash requirements for capital expenditures or contractual commitments, changes in or cash requirements for working capital needs, and cash requirements for replacing depreciated and amortized assets[37](index=37&type=chunk)[39](index=39&type=chunk) - The company acknowledges its non-GAAP definitions may not be comparable to those of other companies in the industry and emphasizes these measures should not be considered in isolation or as a substitute for GAAP-reported results[38](index=38&type=chunk) [Condensed Consolidated Financial Statements](index=3&type=section&id=3.%20Condensed%20Consolidated%20Financial%20Statements) [Condensed Statements of Operations](index=3&type=section&id=3.1.%20Condensed%20Statements%20of%20Operations) The statements detail revenue, costs, and profitability for the three and twenty-six-week periods, highlighting significant improvements in net sales and gross profit [Three Months Ended August 2, 2025 and August 3, 2024](index=3&type=section&id=3.1.1.%20Three%20Months%20Ended%20August%202%2C%202025%20and%20August%203%2C%202024) In Q2 2025, GameStop saw substantial net sales growth and a significant profitability turnaround, moving from an operating loss to positive operating income Condensed Statements of Operations (Three Months) | Metric | 13 Weeks Ended Aug 2, 2025 (Millions $) | 13 Weeks Ended Aug 3, 2024 (Millions $) | YoY Change | | :-------------------------------- | :-------------------------------------- | :-------------------------------------- | :--------- | | Net Sales | 972.2 | 798.3 | +21.8% | | Cost of Sales | 689.1 | 549.5 | +25.4% | | Gross Profit | 283.1 | 248.8 | +13.8% | | SG&A Expenses | 218.8 | 270.8 | -19.2% | | Operating Income (Loss) | 66.4 | (22.0) | N/A (Turned to profit from loss) | | Net Income | 168.6 | 14.8 | +1039.2% | | Basic Income per Share | 0.38 | 0.04 | +850.0% | | Diluted Income per Share | 0.31 | 0.04 | +675.0% | [Twenty-Six Weeks Ended August 2, 2025 and August 3, 2024](index=4&type=section&id=3.1.2.%20Twenty-Six%20Weeks%20Ended%20August%202%2C%202025%20and%20August%203%2C%202024) For the first half of fiscal 2025, GameStop achieved modest net sales growth and a significant improvement in overall profitability, turning a net loss into net income Condensed Statements of Operations (Twenty-Six Weeks) | Metric | 26 Weeks Ended Aug 2, 2025 (Millions $) | 26 Weeks Ended Aug 3, 2024 (Millions $) | YoY Change | | :-------------------------------- | :-------------------------------------- | :-------------------------------------- | :--------- | | Net Sales | 1,704.6 | 1,680.1 | +1.5% | | Cost of Sales | 1,168.7 | 1,186.8 | -1.5% | | Gross Profit | 535.9 | 493.3 | +8.6% | | SG&A Expenses | 446.9 | 565.9 | -21.0% | | Operating Income (Loss) | 55.6 | (72.6) | N/A (Turned to profit from loss) | | Net Income (Loss) | 213.4 | (17.5) | N/A (Turned to profit from loss) | | Basic Income (Loss) per Share | 0.48 | (0.05) | N/A (Turned to profit from loss) | | Diluted Income (Loss) per Share | 0.42 | (0.05) | N/A (Turned to profit from loss) | [Condensed Statements of Operations by Segment](index=5&type=section&id=3.2.%20Condensed%20Statements%20of%20Operations%20by%20Segment) This section details operating performance by geographic segment for the three and twenty-six-week periods, highlighting regional contributions to net sales and operating income [Three Months Ended August 2, 2025 and August 3, 2024](index=5&type=section&id=3.2.1.%20Three%20Months%20Ended%20August%202%2C%202025%20and%20August%203%2C%202024) In Q2 2025, the U.S. segment drove significant growth in net sales and operating income, while Australia also saw increases and Europe reported an operating loss Statements of Operations by Segment (Three Months) | Segment | Q2 2025 Net Sales (Millions $) | Q2 2024 Net Sales (Millions $) | YoY Change | Q2 2025 Operating Income (Loss) (Millions $) | Q2 2024 Operating Loss (Millions $) | | :-------- | :----------------------------- | :----------------------------- | :--------- | :------------------------------------------- | :---------------------------------- | | United States | 724.6 | 545.6 | +32.8% | 63.7 | (1.5) | | Canada | — | 37.7 | -100.0% | — | (4.2) | | Australia | 140.9 | 87.8 | +60.5% | 6.0 | (5.9) | | Europe | 106.7 | 127.2 | -16.2% | (3.3) | (10.4) | | Total | 972.2 | 798.3 | +21.8% | 66.4 | (22.0) | - The company divested its operations in Canada during the second quarter of fiscal 2025, resulting in no reported sales or operating income for the segment in Q2 2025[30](index=30&type=chunk)[32](index=32&type=chunk) [Twenty-Six Weeks Ended August 2, 2025 and August 3, 2024](index=6&type=section&id=3.2.2.%20Twenty-Six%20Weeks%20Ended%20August%202%2C%202025%20and%20August%203%2C%202024) In the first half of 2025, the U.S. segment showed strong net sales growth and a significant turnaround to operating income, while asset impairments were recorded for divestitures Statements of Operations by Segment (Twenty-Six Weeks) | Segment | YTD 2025 Net Sales (Millions $) | YTD 2024 Net Sales (Millions $) | YoY Change | YTD 2025 Operating Income (Loss) (Millions $) | YTD 2024 Operating Loss (Millions $) | | :-------- | :------------------------------ | :------------------------------ | :--------- | :-------------------------------------------- | :----------------------------------- | | United States | 1,262.1 | 1,162.9 | +8.5% | 97.3 | (26.9) | | Canada | 38.2 | 80.3 | -52.4% | (22.2) | (8.6) | | Australia | 222.8 | 167.4 | +33.1% | 0.6 | (14.0) | | Europe | 181.5 | 269.5 | -32.6% | (20.1) | (23.1) | | Total | 1,704.6 | 1,680.1 | +1.5% | 55.6 | (72.6) | - Asset impairments of **$33.4 million** were incurred due to plans to divest operations in Canada and France, with the Canadian divestiture completed in Q2 fiscal 2025[15](index=15&type=chunk)[30](index=30&type=chunk)[32](index=32&type=chunk) [Condensed Consolidated Balance Sheets](index=7&type=section&id=3.3.%20Condensed%20Consolidated%20Balance%20Sheets) As of August 2, 2025, the balance sheet shows a substantial increase in total assets, driven by growth in cash and the introduction of digital assets Condensed Consolidated Balance Sheets | Metric | August 2, 2025 (Millions $) | August 3, 2024 (Millions $) | YoY Change | | :-------------------------------- | :-------------------------- | :-------------------------- | :--------- | | Total Assets | 10,341.1 | 5,536.3 | +86.8% | | Cash and Cash Equivalents | 8,694.4 | 4,193.1 | +107.4% | | Merchandise Inventories, net | 484.9 | 560.0 | -13.4% | | Digital Assets | 528.6 | — | N/A | | Total Liabilities | 5,164.7 | 1,152.9 | +348.0% | | Long-term Debt, net | 4,160.9 | 12.4 | +33455.6% | | Total Stockholders' Equity | 5,176.4 | 4,383.4 | +18.1% | [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=3.4.%20Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) The statements show cash flows from operating, investing, and financing activities, highlighting significant cash inflows from financing and a large increase in cash [Three Months Ended August 2, 2025 and August 3, 2024](index=8&type=section&id=3.4.1.%20Three%20Months%20Ended%20August%202%2C%202025%20and%20August%203%2C%202024) In Q2 2025, operating cash flow increased, while investing activities saw a net outflow due to digital asset purchases, and financing activities provided significant inflows Condensed Consolidated Statements of Cash Flows (Three Months) | Metric | 13 Weeks Ended Aug 2, 2025 (Millions $) | 13 Weeks Ended Aug 3, 2024 (Millions $) | YoY Change | | :-------------------------------- | :-------------------------------------- | :-------------------------------------- | :--------- | | Net Cash Flows from Operating Activities | 117.4 | 68.6 | +71.1% | | Net Cash Flows (Used in) Provided by Investing Activities | (523.3) | 78.4 | N/A (Turned to outflow) | | Net Cash Flows Provided by Financing Activities | 2,675.3 | 3,052.9 | -12.4% | | Increase in Cash, Cash Equivalents, and Restricted Cash | 2,309.8 | 3,199.5 | -27.8% | | Cash, Cash Equivalents and Restricted Cash at End of Period | 8,733.9 | 4,217.0 | +107.1% | - Investing activities in Q2 2025 included **$500.0 million** in purchases of digital assets[20](index=20&type=chunk) - Financing activities in Q2 2025 included **$2,700.0 million** from the issuance of convertible debt, compared to $3,070.4 million from ATM offerings in Q2 2024[20](index=20&type=chunk) [Twenty-Six Weeks Ended August 2, 2025 and August 3, 2024](index=9&type=section&id=3.4.2.%20Twenty-Six%20Weeks%20Ended%20August%202%2C%202025%20and%20August%203%2C%202024) For the first half of 2025, operating cash flow improved significantly, turning from an outflow to an inflow, while financing activities provided substantial cash Condensed Consolidated Statements of Cash Flows (Twenty-Six Weeks) | Metric | 26 Weeks Ended Aug 2, 2025 (Millions $) | 26 Weeks Ended Aug 3, 2024 (Millions $) | YoY Change | | :-------------------------------- | :-------------------------------------- | :-------------------------------------- | :--------- | | Net Cash Flows from Operating Activities | 309.9 | (41.2) | N/A (Turned to inflow) | | Net Cash Flows (Used in) Provided by Investing Activities | (516.0) | 268.2 | N/A (Turned to outflow) | | Net Cash Flows Provided by Financing Activities | 4,153.3 | 3,050.2 | +36.2% | | Increase in Cash, Cash Equivalents, and Restricted Cash | 3,944.1 | 3,278.1 | +20.3% | | Cash, Cash Equivalents and Restricted Cash at End of Period | 8,733.9 | 4,217.0 | +107.1% | - Year-to-date investing activities included **$500.0 million** in purchases of digital assets[22](index=22&type=chunk) - Year-to-date financing activities included **$4,200.0 million** from the issuance of convertible debt[22](index=22&type=chunk) [Sales Mix Analysis (Schedule I)](index=10&type=section&id=4.%20Sales%20Mix%20Analysis%20(Schedule%20I)) [Three Months Ended August 2, 2025 and August 3, 2024](index=10&type=section&id=4.1.%20Three%20Months%20Ended%20August%202%2C%202025%20and%20August%203%2C%202024) In Q2 2025, the share of net sales from hardware & accessories and collectibles increased significantly, while software's contribution declined Sales Mix (Three Months) | Product Category | Q2 2025 Net Sales (Millions $) | Q2 2025 % of Total | Q2 2024 Net Sales (Millions $) | Q2 2024 % of Total | YoY Sales Change | | :----------------------- | :----------------------------- | :----------------- | :----------------------------- | :----------------- | :--------------- | | Hardware and accessories | 592.1 | 60.9% | 451.2 | 56.5% | +31.2% | | Software | 152.5 | 15.7% | 207.7 | 26.0% | -26.6% | | Collectibles | 227.6 | 23.4% | 139.4 | 17.5% | +63.3% | | Total | 972.2 | 100.0% | 798.3 | 100.0% | +21.8% | [Twenty-Six Weeks Ended August 2, 2025 and August 3, 2024](index=10&type=section&id=4.2.%20Twenty-Six%20Weeks%20Ended%20August%202%2C%202025%20and%20August%203%2C%202024) For the first half of 2025, the share of collectibles in total net sales grew substantially, while software's contribution decreased Sales Mix (Twenty-Six Weeks) | Product Category | YTD 2025 Net Sales (Millions $) | YTD 2025 % of Total | YTD 2024 Net Sales (Millions $) | YTD 2024 % of Total | YoY Sales Change | | :----------------------- | :------------------------------ | :------------------ | :------------------------------ | :------------------ | :--------------- | | Hardware and accessories | 937.4 | 55.0% | 956.5 | 57.0% | -2.0% | | Software | 328.1 | 19.2% | 447.4 | 26.6% | -26.7% | | Collectibles | 439.1 | 25.8% | 276.2 | 16.4% | +59.0% | | Total | 1,704.6 | 100.0% | 1,680.1 | 100.0% | +1.5% | [Non-GAAP Reconciliations (Schedule II & III)](index=11&type=section&id=5.%20Non-GAAP%20Reconciliations%20(Schedule%20II%20%26%20III)) [Adjusted SG&A, Operating Income, Net Income, and EPS](index=11&type=section&id=5.1.%20Adjusted%20SG%26A%2C%20Operating%20Income%2C%20Net%20Income%2C%20and%20EPS) Reconciliations show adjusted SG&A, operating income, net income, and EPS were significantly higher than GAAP figures after adjustments for specific items Adjusted SG&A, Operating Income, Net Income, and EPS | Metric | 13 Weeks Ended Aug 2, 2025 (Millions $) | 13 Weeks Ended Aug 3, 2024 (Millions $) | YoY Change | 26 Weeks Ended Aug 2, 2025 (Millions $) | 26 Weeks Ended Aug 3, 2024 (Millions $) | YoY Change | | :-------------------------------- | :-------------------------------------- | :-------------------------------------- | :--------- | :-------------------------------------- | :-------------------------------------- | :--------- | | SG&A expense (GAAP) | 218.8 | 270.8 | -19.2% | 446.9 | 565.9 | -21.0% | | Adjusted SG&A expense | 218.4 | 280.4 | -22.1% | 443.7 | 579.8 | -23.4% | | Operating income (loss) (GAAP) | 66.4 | (22.0) | N/A | 55.6 | (72.6) | N/A | | Adjusted operating income (loss) | 64.7 | (31.6) | N/A | 92.2 | (86.5) | N/A | | Net Income (loss) (GAAP) | 168.6 | 14.8 | +1039.2% | 213.4 | (17.5) | N/A | | Adjusted net income (loss) | 138.3 | 5.2 | +2560.0% | 219.2 | (31.4) | N/A | | Adjusted Basic EPS | 0.31 | 0.01 | +3000.0% | 0.49 | (0.09) | N/A | | Adjusted Diluted EPS | 0.25 | 0.01 | +2400.0% | 0.43 | (0.09) | N/A | - Adjustments primarily include transformation costs, asset impairments related to the Canada and France divestitures, and unrealized gains on digital assets[29](index=29&type=chunk)[30](index=30&type=chunk) [Adjusted EBITDA](index=12&type=section&id=5.2.%20Adjusted%20EBITDA) Adjusted EBITDA for the three and twenty-six-week periods showed a significant positive turnaround compared to the prior year after various adjustments Adjusted EBITDA | Metric | 13 Weeks Ended Aug 2, 2025 (Millions $) | 13 Weeks Ended Aug 3, 2024 (Millions $) | YoY Change | 26 Weeks Ended Aug 2, 2025 (Millions $) | 26 Weeks Ended Aug 3, 2024 (Millions $) | YoY Change | | :-------------------------------- | :-------------------------------------- | :-------------------------------------- | :--------- | :-------------------------------------- | :-------------------------------------- | :--------- | | Net income (loss) (GAAP) | 168.6 | 14.8 | +1039.2% | 213.4 | (17.5) | N/A | | EBITDA | 99.7 | (14.4) | N/A | 96.7 | (48.2) | N/A | | Adjusted EBITDA | 75.7 | (18.0) | N/A | 114.3 | (49.2) | N/A | - Adjustments to EBITDA include interest income, depreciation and amortization, income tax expense, stock-based compensation, transformation costs, divestitures, asset impairments, and unrealized gains on digital assets[31](index=31&type=chunk) [Free Cash Flow](index=13&type=section&id=5.3.%20Free%20Cash%20Flow) GameStop generated positive free cash flow for both the three and twenty-six-week periods, a significant improvement from the negative cash flow in the prior year Free Cash Flow | Metric | 13 Weeks Ended Aug 2, 2025 (Millions $) | 13 Weeks Ended Aug 3, 2024 (Millions $) | YoY Change | 26 Weeks Ended Aug 2, 2025 (Millions $) | 26 Weeks Ended Aug 3, 2024 (Millions $) | YoY Change | | :-------------------------------- | :-------------------------------------- | :-------------------------------------- | :--------- | :-------------------------------------- | :-------------------------------------- | :--------- | | Net cash flows provided by (used in) operating activities | 117.4 | 68.6 | +71.1% | 309.9 | (41.2) | N/A | | Capital expenditures | (4.1) | (3.1) | +32.3% | (7.0) | (8.0) | -12.5% | | Free cash flow | 113.3 | 65.5 | +73.0% | 302.9 | (49.2) | N/A | [Cautionary Statement Regarding Forward-Looking Statements](index=2&type=section&id=6.%20Cautionary%20Statement%20Regarding%20Forward-Looking%20Statements) [Cautionary Statement Regarding Forward-Looking Statements](index=2&type=section&id=6.1.%20Cautionary%20Statement%20Regarding%20Forward-Looking%20Statements) This section serves as a legal disclaimer, advising that forward-looking statements are subject to significant risks and uncertainties that could cause actual results to differ - This press release contains forward-looking statements, identifiable by words like "anticipates," "expects," or "will," which are subject to significant risks and uncertainties[7](index=7&type=chunk) - Actual developments, business decisions, results, and outcomes may differ materially due to factors such as economic conditions, industry competition, supply chain disruptions, technological advances, reliance on new products, and risks associated with investment holdings, including Bitcoin volatility[7](index=7&type=chunk) - The company undertakes no obligation to publicly update any forward-looking statements, except as may be required by applicable securities laws[7](index=7&type=chunk)

Fiscal 2026 Second Quarter Financial Results Overview [Executive Summary](index=1&type=section&id=executive-summary) Skillsoft achieved Q2 FY26 TDS revenue growth and positive free cash flow, revising full-year guidance due to market softness - Achieved a **fourth consecutive quarter of revenue growth** in the TDS enterprise solution, reinforcing the durability and potential of the core business[4](index=4&type=chunk) - Economic uncertainty continued into Q2, weighing on revenue, primarily due to weaker discretionary demand for live training[4](index=4&type=chunk) - Accelerating execution to reimagine learning, with September announcements introducing AI Innovation based products and a reshaped go-to-market strategy[4](index=4&type=chunk) - Revised full-year revenue guidance range to account for softness in federal and live learning spending[5](index=5&type=chunk) - Generated positive free cash flow year-to-date and remains on track to deliver on adjusted EBITDA and free cash flow targets for the balance of the year[5](index=5&type=chunk) [Fiscal 2026 Second Quarter Select Metrics and Financial Measures](index=1&type=section&id=fiscal-2026-second-quarter-select-metrics-and-financial-measures) Skillsoft reported a 3% year-over-year decrease in total revenue for Q2 FY26, reaching $129 million, with improved GAAP net loss | Metric | Q2 FY26 (Millions) | Q2 FY25 (Millions) | YoY Change | | :----- | :----------------- | :----------------- | :--------- | | Total Revenue | $129 | $132 | -3% | | Talent Development Solutions (TDS) Revenue | $101 | $101 | 0% | | Global Knowledge (GK) Revenue | $28 | $31 | -10% | | GAAP Net Loss | ($24) | ($40) | Improved | | GAAP Net Loss per share | ($2.78) | ($4.84) | Improved | | Adjusted EBITDA | $28 | $28 | 0% | | Adjusted EBITDA Margin | 22% | 21% | +1 pp | | Free Cash Flow (Q2) | ($23) | ($16) | Worsened | | Free Cash Flow (YTD) | $4 | N/A | Positive | [Fiscal 2026 Second Quarter Business Highlights](index=1&type=section&id=fiscal-2026-second-quarter-business-highlights) Key business achievements in Q2 FY26 included positive Free Cash Flow, expanded market reach, and significant growth in technology and AI learners - Achieved positive Free Cash Flow in both the year-to-date and last-twelve-month periods[9](index=9&type=chunk) - Announced availability in AWS Marketplace, simplifying and accelerating the purchasing process[9](index=9&type=chunk) - Expanded reach through partnership with Salesforce to bring Skillsoft CAISY™ agent actions to Agentforce and the Salesforce ecosystem[9](index=9&type=chunk) - Achieved **50% year-over-year increase in technology learners**, **74% increase in AI learners**, and **158% increase in total AI learning hours** on the Skillsoft platform[9](index=9&type=chunk) [Full-Year Fiscal 2026 Financial Outlook](index=1&type=section&id=full-year-fiscal-2026-financial-outlook) Skillsoft revised its full-year fiscal 2026 financial outlook, projecting GAAP Revenue between $510 million and $530 million | Metric | Full-Year Fiscal 2026 Outlook | | :----- | :---------------------------- | | GAAP Revenue | $510 million – $530 million | | Adjusted EBITDA | $112 million – $118 million | [Segment Reporting Changes](index=2&type=section&id=segment-reporting-changes) The company adjusted segment reporting components in Q4 FY25 to enhance transparency and peer comparability - Changes made to segment result components in Q4 FY25 to increase transparency and improve segment comparability to peers[10](index=10&type=chunk) - All prior period comparatives have been recast to conform to the current presentation[10](index=10&type=chunk) Company Information [Webcast and Conference Call Information](index=3&type=section&id=webcast-and-conference-call-information) Skillsoft hosted a conference call and webcast on September 9, 2025, to discuss financial results, with a replay available - Skillsoft hosted a conference call and webcast on September 9, 2025, at 5:00 p.m. Eastern Time to discuss financial results[11](index=11&type=chunk) - A replay of the event will be available for twelve months on the Investor Relations section of Skillsoft's website[11](index=11&type=chunk) [About Skillsoft](index=3&type=section&id=about-skillsoft) Skillsoft empowers organizations and learners with personalized, AI-powered learning experiences to address skill gaps and future-proof workforces - Skillsoft (NYSE: SKIL) empowers organizations and learners with personalized, interactive, AI-powered learning experiences and enterprise-ready solutions[12](index=12&type=chunk) - The platform helps customers solve complex business challenges like bridging skill gaps, improving talent retention, driving digital transformation, and future-proofing the workforce[12](index=12&type=chunk) - Skillsoft is the talent development partner for thousands of organizations, including **60% of the Fortune 1000**, serving over **105 million learners globally**[12](index=12&type=chunk) [Investor and Media Contacts](index=6&type=section&id=investor-and-media-contacts) Contact information for investor relations and media inquiries is provided - Investors can contact Ross Collins or Stephen Poe at SKIL@alpha-ir.com[25](index=25&type=chunk) - Media inquiries can be directed to Cameron Martin at cameron.martin@skillsoft.com[25](index=25&type=chunk) Non-GAAP Financial Measures and Key Performance Metrics [Introduction and Rationale](index=3&type=section&id=introduction-and-rationale) Skillsoft utilizes non-GAAP financial measures and key performance metrics to supplement GAAP information for performance evaluation and comparability - Non-GAAP measures and key performance metrics are used by analysts and investors to evaluate companies and provide insight into U.S. GAAP financial disclosures[13](index=13&type=chunk) - Management uses these measures to assess operating performance, financial leverage, resource allocation, and to provide normalized period-to-period comparisons[13](index=13&type=chunk) - Non-GAAP measures have limitations as analytical tools, are not GAAP presentations, and should not be considered alternatives to GAAP profit/loss or operating cash flows[13](index=13&type=chunk) - Quantitative reconciliations for forward-looking non-GAAP financial measures are not provided due to variability and difficulty in making accurate forecasts[15](index=15&type=chunk) [Key Performance Metric: Dollar Retention Rate (DRR)](index=3&type=section&id=key-performance-metric-dollar-retention-rate-drr) Dollar Retention Rate (DRR) measures the long-term value of customer contracts and the ability to retain and expand revenue from existing customers - DRR represents subscription renewals, upgrades, churn, and downgrades for existing customers divided by their beginning total renewable base[16](index=16&type=chunk) - DRR is used to measure the long-term value of customer contracts and the ability to retain and expand revenue from existing customers[17](index=17&type=chunk) [Non-GAAP Financial Measure Definitions](index=4&type=section&id=non-gaap-financial-measure-definitions) This section defines various non-GAAP financial measures used by Skillsoft, primarily excluding non-cash and discrete items for enhanced comparability [Adjusted Net Income (Loss)](index=4&type=section&id=adjusted-net-income-loss) Adjusted net income (loss) excludes non-cash items, discrete and event-specific costs, and certain accounting income/expenses - Adjusted net income (loss) excludes non-cash items, discrete and event-specific costs not representing normal cash operating expenses, and certain accounting income/expenses[18](index=18&type=chunk) - Exclusions include impairment charges, amortization of acquired intangible assets, acquisition and integration related costs, restructuring charges, transformation costs, system migration costs, long-term incentive compensation expenses, executive exit costs, fair value adjustments, and other (income) expense, net[18](index=18&type=chunk) [Adjusted EBITDA](index=5&type=section&id=adjusted-ebitda) Adjusted EBITDA is defined as net income (loss) with specific exclusions, including amortization, depreciation, and income taxes - Adjusted EBITDA is defined as net income (loss) excluding the same items as adjusted net income (loss), plus additional exclusions[19](index=19&type=chunk) - Additional exclusions for Adjusted EBITDA are amortization of intangible assets (other than those recognized as part of business combination accounting), depreciation expense, and provision for (benefit from) income taxes[19](index=19&type=chunk) [Other Adjusted Operating Measures](index=5&type=section&id=other-adjusted-operating-measures) This section defines other adjusted operating measures including adjusted total operating expenses, free cash flow, and adjusted net leverage - Adjusted total operating expenses exclude depreciation, long-term incentive compensation, system migration, and transformation costs[19](index=19&type=chunk) - Free cash flow is defined as net cash provided by (used in) operating activities less net purchases of property and equipment and internally developed software[19](index=19&type=chunk) - Adjusted net leverage is defined as current maturities of long-term debt, plus borrowings under accounts receivable facility, plus long-term debt, less cash and equivalents and restricted cash, divided by adjusted EBITDA for the preceding twelve-month period[19](index=19&type=chunk) Unaudited Condensed Consolidated Financial Statements [Balance Sheets](index=7&type=section&id=balance-sheets) As of July 31, 2025, Skillsoft reported total assets of $969.4 million, with a decrease in total liabilities and shareholders' equity | Metric (in thousands) | July 31, 2025 | January 31, 2025 | Change | | :-------------------- | :------------ | :--------------- | :----- | | Total assets | $969,426 | $1,106,069 | ($136,643) | | Total liabilities | $927,000 | $1,012,223 | ($85,223) | | Total shareholders' equity (deficit) | $42,453 | $93,846 | ($51,393) | | Accounts receivable, net | $96,778 | $178,989 | ($82,211) | | Deferred revenue (current

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For The Quarterly Period Ended July 31, 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: 001-34755 LIMONEIRA COMPANY (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or ...