Sales Performance - Sales for the three months ended September 30, 2025, decreased by $23.7 million (approximately 6%) compared to the prior year period, primarily due to lower raw material pass-through pricing and decreased volume [92]. - The decrease in sales volume was approximately 3%, driven by softer demand in chemical intermediate and nylon end markets [92]. - The company's sales for the nine months ended September 30, 2025, were $1,162,286, a decrease of 2.2% compared to $1,188,495 in the prior year [92]. - Sales decreased by $26.2 million (approximately 2%) in the nine months ended September 30, 2025, due to decreased volume driven by softer demand in nylon end markets [94]. Pricing and Costs - The average ammonium sulfate industry prices in the corn belt have declined approximately 12% from the second quarter to the third quarter since 2016 [86]. - The company experienced a 5% decrease in raw material pass-through pricing due to a net cost decrease in benzene and propylene, which are key feedstocks [92]. - Costs of goods sold increased by $8.2 million (approximately 2%) in the three months ended September 30, 2025, primarily due to increased plant costs and raw material costs [95]. - Gross margin percentage decreased by approximately 8% in the three months ended September 30, 2025, primarily due to pricing impacts and increased plant costs [97]. - Gross margin percentage was approximately flat in the nine months ended September 30, 2025, due to insurance proceeds collected offsetting pricing impacts [98]. Income and Earnings - Net income (loss) was ($2.6) million for the three months ended September 30, 2025, compared to $22.3 million in the prior year period [107]. - Adjusted EBITDA for the nine months ended September 30, 2025, was $132.0 million, compared to $131.9 million in the prior year [110]. - Adjusted EPS - Basic (non-GAAP) for the nine months ended September 30, 2025, was $2.28, compared to $1.90 in the prior year [112]. - The effective tax rate for the nine months ended September 30, 2025, was lower than the prior year period due to the impact of IRC Section 45Q tax credits [104]. - The Company anticipates a $10 million reduction in cash taxes due to new tax provisions from the One Big Beautiful Bill Act [105]. Cash Flow and Capital Expenditures - Cash provided by operating activities decreased by $12.1 million for the nine months ended September 30, 2025, compared to the prior year, primarily due to unfavorable impacts from taxes and working capital [135]. - Capital expenditures for 2025 are expected to be between $120 million and $125 million, down from $134 million in 2024 [116]. - Cash used for investing activities decreased by $10.4 million for the nine months ended September 30, 2025, due to the timing of cash payments for capital expenditures [136]. - Cash provided by financing activities increased by $18.3 million for the nine months ended September 30, 2025, primarily due to net borrowings of $55 million [137]. - The company had a borrowed balance of $250 million under the revolving credit facility as of September 30, 2025 [131]. Share Repurchase and Stock Information - The company repurchased a total of 6,313,789 shares of common stock for an aggregate of $194.1 million at a weighted average price of $30.74 per share [120]. - No shares were repurchased under the share repurchase program during the quarter ended September 30, 2025, with 5,690 shares withheld for tax obligations [155]. - The approximate dollar value of shares that may yet be purchased under the repurchase plan is $61,957,898 [156]. Compliance and Risk Management - The company is in compliance with all covenants of its credit agreement as of September 30, 2025 [130]. - The company has not identified any changes in internal control over financial reporting that materially affect its operations as of September 30, 2025 [148]. - The company maintains effective disclosure controls and procedures as of September 30, 2025, providing reasonable assurance of compliance [147]. - There have been no material changes to the company's risk factors as previously disclosed [153]. Operational Efficiency and Production - The company is the world's largest single-site producer of ammonium sulfate fertilizer as of September 30, 2025, due to the scale and technology of its Hopewell manufacturing facility [85]. - The company’s ammonium sulfate product is positioned to increase yields of key crops, leveraging its nutrient density compared to other fertilizers [83]. - The company’s differentiated product offerings include high-purity applications and high-value intermediates, such as the U.S. Amines portfolio and EZ-Blox™ anti-skinning agent [87]. - The company’s production facilities are designed for nearly continuous operation to maximize efficiency, although this exposes it to risks associated with material disruptions [88]. Legal and Regulatory Matters - The company reported insurance settlement proceeds of approximately $26 million related to the Philadelphia Energy Solutions refinery shutdown, with total aggregate insurance proceeds reaching approximately $39 million [91]. - The company entered into an Order by Consent with the Virginia Department of Environmental Quality regarding alleged water discharge violations, resulting in a civil charge of $55,841 [151]. - Selling, general and administrative expenses increased by $3.2 million in the three months ended September 30, 2025, mainly due to legal and professional fees associated with strategic regulatory matters [100]. Interest Rate Exposure - The company has a floating interest rate exposure related to its Revolving Credit Facility, which may impact future earnings and cash flows [143]. - A 25-basis point fluctuation in interest rates would result in an increase or decrease of approximately $0.6 million in interest expense based on current borrowing levels [144].

Table of Contents 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 September 30, 2025 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities ...

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 September 30, 2025 Commission File Number 0-15572 FIRST BANCORP (Exact Name of Registrant as Specified in its Charter) | North Carolina | | | 56-1421916 | | --- | --- | --- | --- | | (State or Other Jurisdiction of Incorporation or Organization) | | | (I.R.S. Employer Identification Number) | | 205 SE Broad St ...

Financial Performance - The company's net income for Q3 2025 was $368 million, an increase of $69 million or 23% year-over-year, while net income for the first nine months was $969 million, up $96 million or 11% from the prior year [225]. - Basic and diluted earnings per share for Q3 2025 increased 24% to $2.68 and $2.65, respectively, while for the first nine months, both increased 12% to $7.03 and $6.97 [227]. - Noninterest income for Q3 2025 was $101 million, a 19% increase from Q3 2024, driven by higher customer derivative income, other income, and wealth management fees [251]. - For the first nine months of 2025, noninterest income reached $279 million, up 13% year-over-year, primarily due to increased wealth management fees, foreign exchange income, and lending fees [251]. - Income before income taxes for Q3 2025 was $465 million, a 19% increase from Q3 2024, with an income tax expense of $97 million and an effective tax rate of 20.8% [264]. Asset and Liability Management - Total assets reached $79.7 billion as of September 30, 2025, an increase of $3.7 billion from December 31, 2024, driven by a $2.0 billion or 4% increase in net loans and a $1.9 billion or 17% increase in available-for-sale debt securities [227]. - Total deposits were $66.6 billion as of September 30, 2025, an increase of $3.4 billion or 5% from December 31, 2024 [227]. - Stockholders' equity was $8.6 billion as of September 30, 2025, up $860 million or 11% from December 31, 2024, with book value per share increasing to $62.39, a 12% rise [227]. - The loan-to-deposit ratio was 84% as of September 30, 2025, compared to 85% as of December 31, 2024, with total deposits rising to $66.6 billion [348]. - The Company maintained $3.0 billion in FHLB advances as of September 30, 2025, down from $3.5 billion as of December 31, 2024 [350]. Interest Income and Margin - Net interest income before provision for credit losses for Q3 2025 was $678 million, an increase of $105 million or 18% from Q3 2024, and $1.9 billion for the first nine months, a $204 million or 12% increase year-over-year [227]. - The net interest margin for Q3 2025 was 3.53%, up 29 basis points year-over-year, and 3.41% for the first nine months, an increase of 13 basis points compared to the same period in 2024 [227]. - The interest rate spread increased to 2.54% for Q3 2025 compared to 2.04% for Q3 2024 [242]. - The average yield on total interest-earning assets decreased to 5.80% in 2025 from 6.08% in 2024, a decline of 0.28 percentage points [245]. - The average C&I loan yield for Q3 2025 was 7.71%, up from 7.02% in Q2 2025 and 7.93% in Q3 2024 [395]. Regulatory and Compliance - The Company is required to report Scope 1 and 2 greenhouse gas emissions starting in 2026 and Scope 3 emissions starting in 2027 under California Senate Bill No. 253 [215]. - The Bank completed and submitted its resolution plan on October 1, 2025, as required for institutions with total assets between $50 billion and $100 billion [216]. - The Company received an "Outstanding" rating in its most recent performance evaluation under the Community Reinvestment Act framework prior to the October 2023 final rule [218]. - The Company's Common Equity Tier 1 (CET1) capital ratio was 14.8% as of September 30, 2025, exceeding the minimum requirement of 4.5% [326]. - Total capital ratio stood at 16.2% as of September 30, 2025, above the regulatory requirement of 8.0% [326]. Credit Quality and Losses - The allowance for credit losses (ALLL) increased to $841.910 million as of September 30, 2025, up from $741.578 million as of December 31, 2024 [344]. - Nonaccrual loans decreased by $2 million or 1% to $156.934 million from $159.018 million as of December 31, 2024, with 20% of nonaccrual loans being less than 90 days delinquent [340]. - Criticized loans increased by $18 million or 2% to $1.2 billion during the nine months ended September 30, 2025 [337]. - Net charge-offs for the three months ended September 30, 2025, were $18.140 million, a decrease from $29.363 million for the same period in 2024 [344]. - The total nonperforming assets increased to $200.738 million, a 3% increase from $194.095 million as of December 31, 2024 [338]. Segment Performance - The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Treasury and Other, focusing on various customer types and financial products [265]. - Consumer and Business Banking segment net income decreased by $18 million or 13% year-over-year to $123 million for Q3 2025, primarily due to a $15 million decrease in net interest income and an $11 million increase in provision for credit losses [269]. - Commercial Banking segment net income decreased by $7 million or 5% year-over-year to $136 million for Q3 2025, driven by a $23 million decrease in net interest income [274]. - Treasury and Other segment net income increased significantly to $108.78 million for Q3 2025, compared to $14.42 million in Q3 2024, driven by a $143 million increase in net interest income [277]. - Noninterest income in the Consumer and Business Banking segment increased by $11 million or 14% year-over-year to $91.21 million for the first nine months of 2025 [270]. Market and Economic Conditions - The Federal Reserve resumed lowering interest rates in September 2025, indicating a cautious approach to further cuts due to economic uncertainty [213]. - The One Big Beautiful Bill Act, signed into law in July 2025, introduces significant tax changes that the Company is currently evaluating [219]. - The GENIUS Act, enacted in July 2025, establishes a federal licensing framework for payment stablecoins, potentially increasing competition for banks [220]. - California Senate Bill No. 132, effective January 1, 2025, requires banks to adopt a single sales factor for income apportionment, changing the previous three-factor formula [221]. - The Company believes it has adequate liquidity resources to meet operational needs and is not aware of any events likely to materially affect its liquidity [359].

Table of Contents 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 September 30, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File Number: 001-39277 MP MATERIALS CORP. (Exact name of registrant as specified in its charter) (St ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 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 _________ Commission File Number 001-33034 FREEDOM HOLDING CORP. (Exact name of registrant as specified in its charter) Nevada 30-0233726 (State or other ...

Financial Performance - Q2 FY2026 revenue was $1.1 billion, a 2% increase year-over-year, driven by a 3% growth in the Defense and Advanced Technologies segment and a 1% increase in the Communication Services segment [4]. - The net loss for Q2 FY2026 was $61 million, an improvement from a net loss of $138 million in Q2 FY2025, attributed to a favorable service mix and reduced expenses [4]. - Adjusted EBITDA for Q2 FY2026 was $385 million, reflecting a 3% year-over-year increase, with a 6% increase in the Communication Services segment offset by a 15% decline in the Defense and Advanced Technologies segment [13]. - Revenues for Q2 FY26 were $1,140.9 million, a 2% increase from $1,122.3 million in Q2 FY25 [59]. - Net loss for Q2 FY26 improved to $61.4 million from a loss of $137.6 million in Q2 FY25, representing a 55% reduction [59]. - Non-GAAP net income for Q2 FY26 was $12.6 million, a significant recovery from a loss of $29.4 million in Q2 FY25 [67]. - Adjusted EBITDA for Q2 FY26 increased by 3% to $384.7 million compared to $375.0 million in Q2 FY25 [59]. - Free cash flow for the quarter was $69 million, an improvement of $58 million compared to the prior year quarter [39]. - Viasat generated $282 million in operating cash flow during Q2 FY2026, an increase of $43 million YoY and $24 million sequentially [37]. Segment Performance - The backlog for the Defense and Advanced Technologies segment reached a record $1.2 billion, up 31% year-over-year and 14% sequentially, with a book-to-bill ratio of 1.5x [32]. - Awards for Q2 FY2026 totaled a record $1.5 billion, a 17% increase year-over-year, with Communication Services awards increasing 35% to over $1 billion [13]. - The Communication Services segment revenue increased 1% year-over-year to $837 million, with aviation and government satcom service revenues growing 15% and 9% respectively [22]. - The Defense and Advanced Technologies segment revenue was $304 million, a 3% increase year-over-year, driven by a 14% increase in information security and cyber defense [33]. - Adjusted EBITDA for the Defense and Advanced Technologies segment declined 15% year-over-year to $48 million, impacted by higher R&D investments and declines in tactical networking [34]. - Communication Services segment revenues grew by 1% to $836.7 million in Q2 FY26, while new contract awards surged by 35% to $1,031.0 million [60]. - Defense and Advanced Technologies segment revenues increased by 3% to $304.2 million, but new contract awards decreased by 9% to $466.8 million [60]. Future Outlook - The company expects low single-digit YoY revenue growth and flattish YoY Adjusted EBITDA for FY2026 [46]. - The Communication Services segment is projected to have flat revenue performance for FY2026, while the Defense and Advanced Technologies segment anticipates mid-teens YoY revenue growth [46]. - Viasat's net debt relative to LTM Adjusted EBITDA is expected to decrease modestly by the end of FY2026 [46]. - Capital expenditures for FY2026 are expected to be approximately $1.2 billion, including about $400 million for Inmarsat-related expenditures [46]. - The company anticipates another year of double-digit operating cash flow growth, with positive free cash flow expected for FY2027 [46]. Cash and Liquidity - Viasat ended Q2 FY2026 with $2.4 billion in available liquidity, consisting of $1.2 billion in cash and cash equivalents and $1.15 billion in undrawn credit facilities [40]. - Capital expenditures for Q2 FY2026 were $214 million, a 7% decrease YoY due to lower satellite expenditures [38]. - The company received $436 million from Ligado and AST, which will be partially used to repay early the $200 million principal amount of the original 2026 Inmarsat term loan facility [24]. Awards and Contracts - Viasat received awards totaling over $155 million in Q2 FY2026 for information security and cyber defense products, reflecting strong demand from cloud service providers [35].

Financial Performance - The net loss for Q3 2025 was $2.4 million, compared to a net loss of $1.1 million in Q3 2024, marking an increase in net loss of 118.2%[7] - Total revenue for the nine months ended September 30, 2025, was $0, compared to $500,000 for the same period in 2024, indicating a significant decline in revenue[16] - The company reported total operating expenses of $2.4 million for Q3 2025, a decrease of 7% from $2.6 million in Q3 2024[16] - The company recognized a loss of $246,000 related to the change in the fair value of its contingent liability during Q3 2025[6] Cash Position - Cash and cash equivalents decreased to $4.4 million as of September 30, 2025, down from $12.5 million as of December 31, 2024, representing a decline of 64.8%[3] - Management indicated that existing cash and cash equivalents are insufficient to fund operations, necessitating substantial additional financing in the short term[8] Expenses - Research and development expenses for Q3 2025 were $0.9 million, compared to $0 for Q3 2024, indicating the company began incurring R&D costs following the acquisition of GPCR Therapeutics USA Inc.[4] - General and administrative expenses increased to $1.5 million in Q3 2025 from $1.4 million in Q3 2024, reflecting an increase of 7.1% primarily due to costs associated with the GPCR USA acquisition[5] Assets and Equity - The company’s total assets as of September 30, 2025, were $15.3 million, a slight increase from $15.1 million as of December 31, 2024[14] - Stockholders' equity increased to $6.9 million as of September 30, 2025, from $6.8 million as of December 31, 2024, reflecting a growth of 2.3%[14]

Table of Contents For the quarterly period ended September 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to _______________ Commission File No. 001-38258 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 (317) 569-7420 (Registrant's telephone number, including area code) N/A ( ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 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 No. 001-38258 MERCHANTS BANCORP (Exact name of registrant as specified in its charter) 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 September 30, 2025 ...