UNITED STATES SECURITIES AND EXCHANGE COMMISSION 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: 001-41741 Bowen Acquisition Corp Washington, DC 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 March 31, 2025 (Exact name of registrant as specified in its charter) | Cayman Islands | N/A | | --- | ...

[Q3 2025 Financial Highlights](index=1&type=section&id=Fiscal%20Third%20Quarter%202025%20Highlights) Kura Sushi reported total sales of $74.0 million, a significant increase from the previous year, achieved a net income of $0.6 million, and opened three new restaurants, despite a 2.1% decrease in comparable restaurant sales Q3 2025 Key Performance Indicators (vs. Q3 2024) | Metric | Q3 2025 | Q3 2024 | | :--- | :--- | :--- | | Total Sales | $74.0 million | $63.1 million | | Comparable Restaurant Sales | -2.1% | N/A | | Operating Loss | $0.2 million | $1.2 million | | Net Income (Loss) | $0.6 million | $(0.6) million | | Diluted EPS | $0.05 | $(0.05) | | Adjusted Net Income | $0.6 million | $4 thousand | | Restaurant-level Operating Profit* | $13.5 million | N/A | | Adjusted EBITDA* | $5.4 million | N/A | | New Restaurants Opened | 3 | N/A | - CEO Hajime Uba expressed satisfaction with the quarter's results, highlighting progress in the new reservation system, exploration of new market opportunities, and strategy for Bikkurapon collaborations to prepare for fiscal 2026[4](index=4&type=chunk) [Detailed Financial Analysis (Q3 2025)](index=1&type=section&id=Review%20of%20Fiscal%20Third%20Quarter%202025%20Financial%20Results) The company's total sales grew due to new restaurant openings, though comparable sales declined, while the operating loss narrowed significantly and the company swung to a net profit, with improved food and beverage expenses as a percentage of sales, but increased labor costs [Sales and Profitability](index=1&type=section&id=Sales%20and%20Profitability) Total sales increased by 17.3% to $74.0 million, primarily driven by the opening of thirteen new restaurants, partially offset by a 2.1% decrease in comparable restaurant sales, leading to a turnaround from a prior-year net loss to a net income of $0.6 million Q3 Sales and Profitability Comparison (in millions) | Metric | Q3 2025 | Q3 2024 | Change | | :--- | :--- | :--- | :--- | | Total Sales | $74.0 | $63.1 | +17.3% | | Comparable Restaurant Sales | -2.1% | N/A | N/A | | Operating Loss | $(0.2) | $(1.2) | +82.9% | | Net Income (Loss) | $0.6 | $(0.6) | Turnaround to Profit | - The **2.1% decrease** in comparable restaurant sales was composed of a **2.9% decrease** in traffic, partially offset by a **0.8% increase** from price and product mix[5](index=5&type=chunk) [Cost Structure Analysis](index=1&type=section&id=Cost%20Structure%20Analysis) Food and beverage costs improved to 28.3% of sales from 29.2% year-over-year, while labor costs rose to 33.1% of sales from 32.6%, and General and Administrative (G&A) expenses decreased to 11.8% of sales from 14.0% Cost as a Percentage of Sales | Cost Category | Q3 2025 | Q3 2024 | | :--- | :--- | :--- | | Food and Beverage | 28.3% | 29.2% | | Labor and Related | 33.1% | 32.6% | | Other Costs | 14.7% | 14.1% | | General & Administrative | 11.8% | 14.0% | - The decrease in G&A expenses as a percentage of sales was primarily due to sales leverage and a reduction in professional fees and litigation expenses[9](index=9&type=chunk) - Occupancy expenses increased in absolute terms to **$5.5 million** from **$4.3 million**, driven by the opening of thirteen new restaurants since Q3 2024[7](index=7&type=chunk) [Restaurant Development](index=2&type=section&id=Restaurant%20Development) Kura Sushi continued its expansion by opening three new restaurants during the third quarter in Arizona, Washington, and Texas, with two additional restaurants opened subsequent to the quarter's end, bringing the total to 78 locations - **Three new restaurants** were opened during Q3 2025 in: - Scottsdale, Arizona - Lynnwood, Washington - McKinney, Texas[12](index=12&type=chunk) - Subsequent to the quarter end (May 31, 2025), **two more restaurants** were opened in The Woodlands, Texas and Salt Lake City, Utah[12](index=12&type=chunk) [Fiscal Year 2025 Outlook](index=2&type=section&id=Fiscal%20Year%202025%20Outlook) The company updated its full-year guidance for fiscal 2025, projecting total sales of approximately $281 million, planning to open 15 new restaurants, and expecting general and administrative expenses to be below 13.0% of sales Updated FY 2025 Guidance | Metric | Guidance | | :--- | :--- | | Total Sales | Approx. $281 million | | New Restaurants | 15 (annual unit growth > 20%) | | Avg. Net Capex per Unit | Approx. $2.5 million | | G&A Expenses (% of Sales) | Below 13.0% (excl. legal settlements) | [Financial Statements](index=6&type=section&id=Financial%20Statements) This section provides the detailed, unaudited financial statements for the third quarter and nine months ended May 31, 2025, including the income statement, selected balance sheet and operating data, and reconciliations of GAAP to non-GAAP measures [Statements of Operations](index=6&type=section&id=Statements%20of%20Operations%20and%20Comprehensive%20Income%20(Loss)) For the three months ended May 31, 2025, the company reported sales of $74.0 million and a net income of $0.6 million, or $0.05 per diluted share, a significant improvement from the same period in 2024, which saw sales of $63.1 million and a net loss of $0.6 million Consolidated Statements of Operations (in thousands, for Three Months Ended May 31) | Account | 2025 | 2024 | | :--- | :--- | :--- | | Sales | $73,965 | $63,082 | | Total operating expenses | $74,127 | $64,251 | | **Operating loss** | **$(162)** | **$(1,169)** | | Income (loss) before income taxes | $620 | $(498) | | **Net income (loss)** | **$565** | **$(558)** | | Diluted EPS | $0.05 | $(0.05) | [Selected Balance Sheet and Operating Data](index=7&type=section&id=Selected%20Balance%20Sheet%20Data%20and%20Selected%20Operating%20Data) As of May 31, 2025, the company held $47.1 million in cash and cash equivalents and had total assets of $419.4 million, with the total number of restaurants growing to 76, while restaurant-level operating profit margin was 18.2% and Adjusted EBITDA margin slightly increased to 7.3% Selected Balance Sheet Data (in thousands) | Account | May 31, 2025 | August 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $47,132 | $50,986 | | Total assets | $419,373 | $328,522 | | Total liabilities | $192,369 | $165,984 | | Total stockholders' equity | $227,004 | $162,538 | Selected Operating Data (for Three Months Ended May 31) | Metric | 2025 | 2024 | | :--- | :--- | :--- | | Restaurants at end of period | 76 | 63 | | Comparable restaurant sales | (2.1)% | 0.6% | | Adjusted EBITDA | $5,410 | $4,451 | | Restaurant-level operating profit | $13,492 | $12,604 | | Restaurant-level operating profit margin | 18.2% | 20.0% | [Reconciliation of Non-GAAP Measures](index=8&type=section&id=Reconciliation%20of%20Non-GAAP%20Measures) The company provides reconciliations for its non-GAAP metrics, showing Adjusted Net Income of $0.6 million, Adjusted EBITDA of $5.4 million, and Restaurant-level operating profit of $13.5 million for Q3 2025 Reconciliation to Adjusted EBITDA (Q3 2025, in thousands) | Line Item | Amount | | :--- | :--- | | Net income | $565 | | Interest income, net | $(782) | | Income tax expense | $55 | | Depreciation and amortization | $3,559 | | **EBITDA** | **$3,397** | | Stock-based compensation | $1,293 | | Non-cash lease expense | $720 | | Litigation | $— | | **Adjusted EBITDA** | **$5,410** | Reconciliation to Restaurant-level Operating Profit (Q3 2025, in thousands) | Line Item | Amount | | :--- | :--- | | Operating loss | $(162) | | Add: Depreciation & amortization | $3,559 | | Add: Stock-based compensation | $1,293 | | Add: Pre-opening costs | $404 | | Add: Non-cash lease expense | $720 | | Add: General & administrative | $8,741 | | Less: Corp-level stock comp | $(1,063) | | **Restaurant-level operating profit** | **$13,492** |

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended May 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: 001-11107 FRANKLIN COVEY CO. (Exact name of registrant as specified in its charter) Utah 87-0401551 (I.R.S. ...

EX-99.1 2 aehrex991.htm EX-99.1 EXHIBIT 99.1 Contacts: Aehr Test Systems Chris Siu Chief Financial Officer csiu@aehr.com PondelWilkinson, Inc. Todd Kehrli or Jim Byers Investor Contact tkehrli@pondel.com jbyers@pondel.com Fiscal Year Financial Results: Aehr Test Systems Reports Fiscal 2025 Fourth Quarter and Full Year Financial Results Page 2 of 8 An explanation of the use of non-GAAP financial measures and a reconciliation of Aehr's non-GAAP financial measures to the most directly comparable GAAP financial ...

WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): July 3, 2025 UNITED STATES SECURITIES AND EXCHANGE COMMISSION EMEREN GROUP LTD (Exact name of Registrant as Specified in Its Charter) (State or Other Jurisdiction of Incorporation) British Virgin Islands 001-33911 N/A (Commission File Number) (IRS Employer Identification No.) 149 Water Street, Suite 302 Norwalk, Connecticut 06854 (Address of ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): July 08, 2025 RxSight, Inc. (Exact name of Registrant as Specified in Its Charter) Delaware 001-40690 94-3268801 (Commission File Number) (IRS Employer Identification No.) 100 Columbia Aliso Viejo, California 92656 (Address of Principal Executive Offices) (Zip Code) Registrant's Telephone Numbe ...

Exhibit 99.1 Press Release FOR IMMEDIATE RELEASE PENGUIN SOLUTIONS REPORTS Q3 FISCAL 2025 FINANCIAL RESULTS Company raises midpoint of full-year GAAP and Non-GAAP diluted EPS outlook Milpitas, Calif. – July 8, 2025 – Penguin Solutions, Inc. ("Penguin Solutions," "we," "us," or the "Company") (NASDAQ: PENG) today reported financial results for the third quarter of fiscal 2025. Third Quarter Fiscal 2025 Highlights "We delivered solid third quarter results while executing against our strategic objectives," sai ...

Exhibit 99.1 Press Release FOR IMMEDIATE RELEASE PENGUIN SOLUTIONS REPORTS Q3 FISCAL 2025 FINANCIAL RESULTS Company raises midpoint of full-year GAAP and Non-GAAP diluted EPS outlook Milpitas, Calif. – July 8, 2025 – Penguin Solutions, Inc. ("Penguin Solutions," "we," "us," or the "Company") (NASDAQ: PENG) today reported financial results for the third quarter of fiscal 2025. Third Quarter Fiscal 2025 Highlights "We delivered solid third quarter results while executing against our strategic objectives," sai ...

Saratoga Investment Corp. Announces Fiscal First Quarter 2026 Financial Results Reports 17.9% Increase in Adjusted NII Per Share and 0.9% Increase in NAV from Previous Quarter Quarterly ROE of 14.1% Generates LTM ROE of 9.3% and Beats the BDC Industry Average of 7.0% NEW YORK, July 8, 2025 – Saratoga Investment Corp. (NYSE: SAR) ("Saratoga Investment" or "the Company"), a business development company ("BDC"), today announced financial results for its fiscal first quarter 2026 ended May 31, 2025. Exhibit 99. ...

Part I. Financial Information [Consolidated Financial Statements](index=3&type=section&id=Item%201.%20Consolidated%20Financial%20Statements) The consolidated financial statements present Saratoga Investment Corp.'s financial position as of May 31, 2025, and its performance for the three-month period then ended, highlighting total assets of $1.20 billion and a net increase in net assets of $13.9 million [Consolidated Statements of Assets and Liabilities](index=3&type=section&id=Consolidated%20Statements%20of%20Assets%20and%20Liabilities) As of May 31, 2025, Saratoga's total assets increased to $1.20 billion, with net assets growing to $396.4 million, though Net Asset Value (NAV) per share decreased to $25.52 Consolidated Statements of Assets and Liabilities Highlights (in thousands) | Metric | May 31, 2025 | February 28, 2025 | | :--- | :--- | :--- | | Total investments at fair value | $968,318 | $978,078 | | Total assets | $1,202,269 | $1,191,544 | | Total liabilities | $805,900 | $798,878 | | Total net assets | $396,369 | $392,665 | | **Net asset value per share** | **$25.52** | **$25.86** | [Consolidated Statements of Operations](index=5&type=section&id=Consolidated%20Statements%20of%20Operations) For the three months ended May 31, 2025, total investment income decreased to $32.3 million, resulting in a net increase in net assets of $13.9 million, or $0.91 per share, driven by a shift from net realized/unrealized losses to gains Quarterly Operating Results (in thousands, except per share data) | Metric | Three months ended May 31, 2025 | Three months ended May 31, 2024 | | :--- | :--- | :--- | | Total investment income | $32,319 | $38,678 | | Total operating expenses | $22,177 | $24,343 | | Net investment income | $10,142 | $14,335 | | Net realized and unrealized gain (loss) | $3,790 | $(7,725) | | **Net increase in net assets** | **$13,932** | **$6,610** | | **Earnings per share** | **$0.91** | **$0.48** | [Consolidated Statements of Changes in Net Assets](index=6&type=section&id=Consolidated%20Statements%20of%20Changes%20in%20Net%20Assets) For the quarter ended May 31, 2025, net assets increased by $3.7 million, primarily due to a $13.9 million net gain from operations and $8.8 million from capital share transactions, partially offset by $19.0 million in distributions Reconciliation of Net Assets for the three months ended May 31, 2025 (in thousands) | Description | Amount | | :--- | :--- | | Net assets at beginning of period | $392,665 | | Net increase from operations | $13,932 | | Distributions to shareholders | $(18,980) | | Net increase from capital share transactions | $8,752 | | **Net assets at end of period** | **$396,369** | [Consolidated Statements of Cash Flows](index=7&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) During the three months ended May 31, 2025, the company generated $32.3 million in cash from operating activities, resulting in a net increase in cash and cash equivalents of $19.6 million Summary of Cash Flows (in thousands) | Activity | Three months ended May 31, 2025 | Three months ended May 31, 2024 | | :--- | :--- | :--- | | Net cash from operating activities | $32,291 | $52,145 | | Net cash from financing activities | $(12,728) | $645 | | **Net increase in cash** | **$19,563** | **$52,790** | | Cash at end of period | $224,287 | $93,297 | [Consolidated Schedule of Investments](index=9&type=section&id=Consolidated%20Schedule%20of%20Investments) As of May 31, 2025, Saratoga's investment portfolio had a fair value of $968.3 million across 46 portfolio companies, primarily composed of first lien term loans, with top concentrations in Healthcare Services, Consumer Services, and HVAC Services and Sales Investment Portfolio Composition by Type (May 31, 2025) | Investment Type | Fair Value (in millions) | % of Net Assets | | :--- | :--- | :--- | | Non-control/Non-affiliate | $875.4 | 220.9% | | Affiliate | $52.0 | 13.1% | | Control | $40.9 | 10.3% | | **Total Investments** | **$968.3** | **244.3%** | Top 5 Industry Concentrations by Fair Value (May 31, 2025) | Industry | Fair Value (in millions) | % of Total Portfolio | | :--- | :--- | :--- | | Healthcare Services | $83.6 | 8.6% | | Consumer Services | $59.2 | 6.1% | | HVAC Services and Sales | $53.8 | 5.6% | | Real Estate Services | $51.7 | 5.3% | | Healthcare Software | $45.9 | 4.7% | - The total fair value of the investment portfolio was **$968.3 million** as of May 31, 2025, compared to **$978.1 million** as of February 28, 2025[10](index=10&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=119&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's financial performance for the quarter ended May 31, 2025, highlighting a decrease in investment income, stable portfolio credit quality, and adequate liquidity with an asset coverage ratio of 163.8% [Overview](index=121&type=section&id=MD%26A%20Overview) Saratoga Investment Corp. is a BDC focused on generating income and capital appreciation by investing in U.S. middle-market companies, operating as a RIC and utilizing leverage through its SBIC subsidiaries, credit facilities, and a CLO - The company's investment objective is to generate current income and long-term capital appreciation from investments in private U.S. middle-market companies[389](index=389&type=chunk) - The company operates two SBIC subsidiaries, SBIC II LP and SBIC III LP, which allow for up to **$350.0 million** in combined SBA-guaranteed debentures[391](index=391&type=chunk) - In June 2024, the company completed the fifth refinancing of its Saratoga CLO and amended its Live Oak Credit Facility, increasing the available borrowings from **$50.0 million** to **$75.0 million**[392](index=392&type=chunk)[394](index=394&type=chunk) [Portfolio and Investment Activity](index=129&type=section&id=Portfolio%20and%20Investment%20Activity) For the quarter ended May 31, 2025, the company had net repayments of $14.2 million, with the $968.3 million portfolio composed of 127 investments in 46 companies, primarily first lien term loans, and maintaining strong credit quality with 90.6% rated 'Green' Quarterly Investment Activity (in millions) | Activity | Three months ended May 31, 2025 | Three months ended May 31, 2024 | | :--- | :--- | :--- | | New/Existing Investments | $50.1 | $39.3 | | Exits and Repayments | $(64.3) | $(75.7) | | **Net Activity** | **$(14.2)** | **$(36.4)** | Portfolio Composition by Type (May 31, 2025) | Investment Type | % of Total Portfolio | Weighted Avg. Current Yield | | :--- | :--- | :--- | | First lien term loans | 86.9% | 11.4% | | Second lien term loans | 0.7% | 16.8% | | Unsecured term loans | 1.7% | 10.6% | | Structured finance securities | 2.8% | 15.6% | | Equity interests | 7.9% | - | | **Total** | **100.0%** | **10.7%** | Credit Quality (CMR) Distribution (May 31, 2025) | Color Score | % of Total Portfolio (Fair Value) | | :--- | :--- | | Green (Performing) | 90.6% | | Yellow (Underperforming) | 0.1% | | Red (Default/Loss Expected) | 0.2% | | N/A (Equity/CLO) | 9.1% | [Results of Operations](index=134&type=section&id=Results%20of%20Operations) For Q1 FY2026, total investment income decreased by 16.4% YoY to $32.3 million, while total operating expenses fell 8.9% to $22.2 million, resulting in net investment income of $10.1 million and a net realized gain of $2.9 million Investment Income Comparison (in thousands) | Income Source | Q1 FY2026 | Q1 FY2025 | | :--- | :--- | :--- | | Interest from investments | $28,004 | $34,306 | | Interest from cash | $2,027 | $625 | | Management fee income | $705 | $804 | | Dividend Income | $999 | $1,547 | | Other income | $583 | $1,396 | | **Total Investment Income** | **$32,318** | **$38,678** | Operating Expenses Comparison (in thousands) | Expense Source | Q1 FY2026 | Q1 FY2025 | | :--- | :--- | :--- | | Interest and debt financing | $12,452 | $12,962 | | Base management fees | $4,333 | $4,983 | | Incentive management fees | $2,537 | $3,585 | | Other operating expenses | $2,850 | $2,875 | | **Total Operating Expenses** | **$22,177** | **$24,343** | - The decrease in interest income was due to an **11.6% decrease** in the size of the investment portfolio and a reduction in the weighted average current yield from **11.5% to 10.6%**, primarily due to lower SOFR rates[454](index=454&type=chunk) - The company recognized a net realized gain of **$2.9 million**, primarily from the sale of equity in Identity Automation Systems[470](index=470&type=chunk)[472](index=472&type=chunk)[473](index=473&type=chunk) [Financial Condition, Liquidity and Capital Resources](index=139&type=section&id=Financial%20Condition%2C%20Liquidity%20and%20Capital%20Resources) The company maintains a diverse liquidity profile with $131.6 million in cash, available credit facilities, and SBA debentures, reporting an asset coverage ratio of 163.8% and unfunded commitments totaling $136.4 million - The company's asset coverage ratio was **163.8%** as of May 31, 2025, exceeding the regulatory minimum of **150%**[490](index=490&type=chunk)[564](index=564&type=chunk) Contractual Obligations as of May 31, 2025 (in thousands) | Obligation | Total | Less Than 1 Year | 1 - 3 Years | 3 - 5 Years | More Than 5 Years | | :--- | :--- | :--- | :--- | :--- | :--- | | Encina Credit Facility | $32,500 | $32,500 | $0 | $0 | $0 | | Live Oak Credit Facility | $37,500 | $0 | $37,500 | $0 | $0 | | SBA debentures | $170,000 | $0 | $0 | $20,000 | $150,000 | | Unsecured Notes | $551,375 | $204,000 | $347,375 | $0 | $0 | | **Total** | **$791,375** | **$236,500** | **$384,875** | **$20,000** | **$150,000** | - As of May 31, 2025, the company had unfunded commitments of **$136.4 million**, with **$77.7 million** at the company's discretion and **$58.6 million** at the portfolio company's discretion upon meeting certain covenants[568](index=568&type=chunk)[569](index=569&type=chunk)[570](index=570&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=160&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risk is interest rate risk, with approximately 95.1% of debt investments and credit facilities bearing floating rates, where a hypothetical 100 basis point increase would positively impact net interest income - As of May 31, 2025, approximately **95.1%** of the company's debt investments bear interest at floating rates, while **4.9%** are at fixed rates, and the Encina and Live Oak credit facilities are also floating rate[575](index=575&type=chunk) Interest Rate Sensitivity Analysis (Annualized, in thousands) | Basis Point Change | Change in Interest Income | Change in Interest Expense | Change in Net Interest Income (pre-incentive) | Change in Net Interest Income (post-incentive) | | :--- | :--- | :--- | :--- | :--- | | +100 | $8,629 | $(700) | $7,929 | $6,343 | | -100 | $(8,580) | $700 | $(7,880) | $(6,304) | [Controls and Procedures](index=161&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, concluded that the company's disclosure controls and procedures were effective as of May 31, 2025, with no material changes to internal control over financial reporting during the quarter - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of the end of the period[581](index=581&type=chunk) - No material changes to internal control over financial reporting occurred during the quarter ended May 31, 2025[581](index=581&type=chunk) Part II. Other Information [Other Disclosures](index=162&type=section&id=Other%20Disclosures) The company reports no material legal proceedings or changes to risk factors, no defaults on senior securities, and an extended share repurchase plan with no shares repurchased during the quarter - The company is not subject to any material legal proceedings[583](index=583&type=chunk) - There have been no material changes to the risk factors disclosed in the company's Annual Report on Form 10-K for the fiscal year ended February 28, 2025[584](index=584&type=chunk) - The company's share repurchase plan, authorizing up to **1.7 million shares**, was extended to January 15, 2026, with no shares repurchased in the three months ended May 31, 2025, and **1,035,203 shares** purchased to date under the plan[585](index=585&type=chunk)