Financial Performance - Revenue for the three months ended September 30, 2025, was $395.7 million, an increase of $37.3 million from $358.5 million in the same period of 2024[137] - Total revenue for the three months ended September 30, 2025, increased by $37.3 million, or 10%, compared to the same period in 2024, reaching $395.7 million[187] - The company generated a net loss of $3.0 million for the three months ended September 30, 2025, compared to a net income of $8.9 million in the same period of 2024[137] - Net loss for the period was $2.96 million, a significant decline from a net income of $8.9 million in the same period last year, marking a 133% decrease[184] Transaction and Customer Metrics - The total payment volume (TPV) for the three months ended September 30, 2025, was $89.3 billion, representing a 12% growth from $79.8 billion in 2024[158] - The number of businesses using the company's solutions increased to 498,500 as of September 30, 2025, up 5% from 476,200 in 2024[158] - The company processed 33.3 million transactions during the three months ended September 30, 2025, a 16% increase from 28.6 million transactions in 2024[158] - The total number of BILL AP/AR customers was approximately 173,500 as of September 30, 2025[158] - The total number of spending businesses using the BILL Spend and Expense solution was approximately 42,500 as of September 30, 2025[158] Expenses and Costs - Subscription and transaction fees contributed $358.0 million, a 14% increase from $314.9 million in the prior year, driven by a $39.7 million increase in transaction fee revenue[187] - Service costs rose by $12.5 million, or 23%, to $66.1 million, impacting gross profit which increased by $25.0 million, or 9%, to $318.7 million[189] - Gross margin decreased to 80.5% for the three months ended September 30, 2025, down from 82.0% in the prior year, attributed to changes in cost mix[189] - Research and development expenses increased by $1.6 million, or 2%, primarily due to a $10.4 million rise in personnel-related costs, offset by a $9.9 million decrease from higher capitalization of software development costs[190] - Sales and marketing expenses increased by $22.9 million, or 18%, reflecting continued investment in brand awareness and customer acquisition[184] - General and administrative expenses rose by $10.1 million, or 15%, as the company expanded its administrative functions to support growth initiatives[184] - The operating loss for the three months ended September 30, 2025, was $20.7 million, compared to a loss of $7.7 million in the prior year, representing a 169% increase in losses[184] Cash Flow and Investments - Free cash flow increased to $82.3 million for the three months ended September 30, 2025, compared to $81.5 million in the prior year period[209] - Cash and cash equivalents totaled $1.1 billion, with available-for-sale short-term investments of $1.2 billion as of September 30, 2025[211] - Net cash provided by operating activities increased to $96.9 million during the three months ended September 30, 2025, from $88.6 million in the prior year period[220] - Net cash used in investing activities decreased to $108.7 million during the three months ended September 30, 2025, from $139.5 million in the prior year period[223] - Net cash provided by financing activities was $1.1 million for the three months ended September 30, 2025, compared to a net cash used of $105.2 million in the prior year period[225] Debt and Financing - Issued $1.4 billion in aggregate principal amount of 0% convertible senior notes due on April 1, 2030, with a conversion price of $119.45 per share[226] - Issued $575.0 million in aggregate principal amount of 0% convertible senior notes due on April 1, 2027, with a conversion price of $414.80 per share[227] - Repurchased $451.5 million of 2027 Notes for $408.6 million in cash, leaving $123.5 million outstanding[228] - Repurchased $1.116 billion of 2025 Notes for $1.0634 billion in cash, leaving $33.5 million outstanding[231] - Total borrowing capacity of $300.0 million under the 2021 Credit Facility, with $180.0 million borrowed as of September 30, 2025[232] - Total borrowing capacity of $300.0 million under the 2025 Credit Facility, with $150.0 million borrowed as of September 30, 2025[233] Credit and Risk Management - The company is exposed to credit risk related to customer funds collected, with potential credit losses if customers dispute transactions after funds are remitted[254] - The company continually evaluates the credit quality of securities in its portfolios, making decisions based on credit rating thresholds and payment performance[255] - Credit risk arises from card receivable balances and loans held for investment, with potential defaults due to various factors including bankruptcy and operational failure[256] - The company relies on the creditworthiness of spending businesses for repayment of card receivables, which limits recourse for collection[256] Foreign Currency Risk - Foreign currency exchange risk is present in the company's cross-border payment service, with transaction fees not adjusted for foreign exchange fluctuations[257] - The company's Canadian subsidiary is also exposed to foreign currency exchange risk, affecting financial results due to transaction gains or losses[258] - A 10% change in the value of the U.S. dollar relative to foreign currencies is believed to have an immaterial effect on cash flows and operating results[259] New Initiatives - The company launched BILL AI in October 2025, introducing AI agents designed to autonomously collect and validate W-9s and reconcile receipts[136] - The company announced a reduction in force impacting approximately 6% of employees to improve organizational agility and efficiency[142]

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: 001-38888 Red River Bancshares, Inc. (Exact name of registrant as specified in its charter) (State or Other Jurisdiction of In ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION 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 transition period from to Commission File Number 001-40963 Washington, D.C. 20549 FORM 10-Q Allbirds, Inc. (Mark One) (Exact name of registrant as specified in its charter) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (State or other jurisdiction of incorporation or org ...

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 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 001-34003 TAKE-TWO INTERACTIVE SOFTWARE, INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 51-035084 ...

Revenue and Growth - Revenue for the three months ended September 30, 2025, was $937,589, a significant increase from $201,960 in the same period of 2024, representing a growth of approximately 364%[14] - The company generated $22.2 million from the issuance of common shares through At-The-Market offerings during the three months ended September 30, 2025, compared to $6.9 million in the same period of 2024[18] - The company generated its initial revenue in the fourth quarter of the fiscal year ended June 30, 2024[20] Losses and Expenses - The gross loss for the three months ended September 30, 2025, was $(3,516,642), compared to $(2,340,681) for the same period in 2024, indicating a decline in gross margin[14] - The net loss attributable to common stockholders for the three months ended September 30, 2025, was $(10,299,566), compared to $(11,780,206) for the same period in 2024, reflecting an improvement of approximately 13%[14] - Cash flows from operating activities resulted in a net cash used of $7.1 million for the three months ended September 30, 2025, compared to $5.6 million for the same period in 2024, indicating a 28% increase in cash outflow[18] - The company incurred negative cash flows from operating activities of $28.9 million for the fiscal year ended June 30, 2025[21] - Management anticipates that operating losses will lessen in the near term due to revenue growth and ongoing cost efficiencies[21] Assets and Equity - Total assets increased to $101,473,201 as of September 30, 2025, up from $84,457,791 as of June 30, 2025, representing a growth of about 20%[12] - Total stockholders' equity increased to $95,998,304 as of September 30, 2025, from $70,599,023 as of June 30, 2025, marking an increase of about 36%[12] - Cash and cash equivalents rose to $30,122,498 as of September 30, 2025, compared to $7,474,304 as of June 30, 2025, indicating a substantial increase of approximately 303%[11] Shareholder Activity - The company issued 8,217,533 shares pursuant to an At-The-Market offering, raising approximately $21 million in additional paid-in capital[15] - The weighted average shares outstanding for the three months ended September 30, 2025, were 112,240,128, compared to 69,519,432 for the same period in 2024, indicating a significant increase in share count[14] - Total common shares of 6,666,651 were issued upon conversion of $5,000,000 of the 2024 Notes, with a fair market value of $16.0 million[72] Research and Development - Research and development expenses for the three months ended September 30, 2025, were $2,697,639, compared to $2,032,135 for the same period in 2024, reflecting an increase of about 33%[14] Inventory and Grants - As of September 30, 2025, total inventories amounted to $104.1 million, a decrease from $408.1 million on June 30, 2025[43] - Grants receivable increased from $0.2 million on June 30, 2025, to $0.5 million on September 30, 2025[44] - The Company completed a DOE project with cumulative funds invoiced totaling $2.3 million, representing 100% of eligible reimbursements[46] Debt and Financing - The Company amended the Purchase Agreement to issue a new series of senior secured convertible notes (the "2024 Notes") totaling $12.0 million, with a discount of $2.1 million[68] - The 2024 Notes bear zero coupon, mature on September 1, 2025, and require $5.0 million in cash to be maintained in a restricted account[68] - The Company recognized amortization of the debt discount of the 2024 Notes totaling $2.3 million for the fiscal year ended June 30, 2025[70] Tax Credits and Compliance - The Company has incurred qualifying expenditures for a tax credit of up to $19.5 million but will not recognize amounts until compliance assurance is met[50] - The Company has not incurred any qualifying expenditures toward an additional tax credit of up to $40.5 million as of September 30, 2025[52] Operational Focus - The company is focused on increasing domestic U.S. production of critical battery materials through exploration and commercialization of new technologies[19] - The Company began a third exploration program for its Tonopah Flats Lithium Project, involving 6,500 feet of total drilling[59] Stock-Based Compensation - Stock-based compensation expense for the three months ended September 30, 2025, was $2.3 million, compared to $3.2 million for the same period in 2024[105] - The Company recognized $18.1 million of unamortized expenses related to outstanding equity compensation awards to be recognized over a remaining weighted-average period of 3.5 years[106] Other Financial Metrics - The operating lease cost for the three months ended September 30, 2025, was $144,511 compared to $86,937 for the same period in 2024[78] - Total accounts payable and accrued liabilities decreased to $5.2 million as of September 30, 2025, from $5.8 million on June 30, 2025[64]

Financial Performance - Total revenues for Q3 2025 were $43,207,000, a decrease of 7.0% compared to $46,544,000 in Q3 2024[18] - Net income for Q3 2025 was $4,997,000, compared to a net loss of $5,831,000 in Q3 2024, marking a significant turnaround[18] - The company reported a loss from operations of $7,348,000 for Q3 2025, slightly improved from a loss of $7,388,000 in Q3 2024[18] - The company incurred total costs and operating expenses of $50,555,000 in Q3 2025, down from $53,932,000 in Q3 2024, a reduction of 6.4%[18] - For the nine months ended September 30, 2025, the net loss was $12.766 million, a decrease from a net loss of $25.199 million in the same period of 2024, representing a 49% improvement[25] - The company reported a net loss of $12.8 million for the nine months ended September 30, 2025, an improvement compared to a net loss of $25.2 million for the same period in 2024[98] Assets and Liabilities - Total current assets decreased to $125,621,000 as of September 30, 2025, down from $135,128,000 at December 31, 2024, representing a decline of 7.5%[16] - Total liabilities decreased to $34,506,000 as of September 30, 2025, down from $41,554,000 at December 31, 2024, a reduction of 16.9%[16] - Stockholders' equity as of September 30, 2025, was $114,181,000, down from $118,137,000 at December 31, 2024, reflecting a decrease of 3.9%[16] - Cash and cash equivalents were $103,186,000 as of September 30, 2025, compared to $111,835,000 at December 31, 2024, a decrease of 7.8%[16] - Total assets as of September 30, 2025, were $99,057,000, an increase from $97,917,000 as of December 31, 2024[53] Cash Flow and Financing - Net cash provided by operating activities was $2.000 million, compared to $1.846 million for the same period in 2024, indicating an 8% increase[25] - The net cash used in financing activities was $4.484 million, significantly lower than $18.150 million in the same period of 2024, indicating a 75% reduction[25] - Cash used in investing activities for the nine months ended September 30, 2025 was $6.2 million, consistent with the $6.2 million used in the same period of 2024, primarily for software and computer hardware investments[157] - Cash used in financing activities for the nine months ended September 30, 2025 was $4.5 million, a significant decrease from $18.2 million in the same period of 2024[158][159] Stock-Based Compensation - Stock-based compensation increased to $9.791 million for the nine months ended September 30, 2025, compared to $8.774 million in 2024, marking a 12% rise[25] - Stock-based compensation expense for the nine months ended September 30, 2025, was $9.8 million, up from $8.8 million in 2024, reflecting a year-over-year increase of 11.6%[70] - Total stock-based compensation cost for the nine months ended September 30, 2025, was $10.4 million, compared to $9.3 million in 2024, representing a 11.9% increase[70] Revenue Sources - Dealer revenue for the nine months ended September 30, 2025, was $124.5 million, an increase of 6.0% from $116.6 million in 2024[79] - Dealer revenue accounted for 93.5% of total revenues in Q3 2025, compared to 90.1% in Q3 2024, while OEM incentives revenue decreased to 5.9% from 9.4%[130] - The company expects fluctuations in OEM revenue in future quarters due to changes in agreements with affinity group marketing partners[131] Market and Economic Conditions - The macroeconomic environment has caused significant disruptions, with ongoing concerns about inflation and high interest rates impacting consumer sentiment and spending[102] - Economic conditions, such as interest rates and inflation, have led to a decrease in consumer demand for automobiles, with new vehicle sales dropping from 17.0 million in 2019 to 13.8 million in 2022[197] - The automotive industry has faced inventory supply challenges, with inventory levels in Q4 2024 at the highest since June 2020, but still below historic levels[193] Merger Agreement - The company entered into a Merger Agreement on October 14, 2025, with Fair Holdings, Inc., where each share of common stock will be converted into $2.55 in cash[86] - The consummation of the Merger is subject to customary closing conditions, including stockholder approval, and will result in the company's stock being delisted from Nasdaq[101] - The Merger Agreement includes a requirement for Parent to secure an additional $60.0 million in financing commitments for completion[172] - The company may incur a termination fee of either $4.0 million or $8.0 million if the Merger Agreement is terminated under specified circumstances[175][182] Operational Challenges - TrueCar experienced a decline in lead quality and quantity since 2021, attributed to industry-wide automobile inventory shortages and macroeconomic factors such as inflation and interest rates[206] - Labor disputes and supply chain disruptions could adversely impact inventory supply and demand for new automobiles[195] - The company recognizes the importance of providing a compelling value proposition to both consumers and dealers through its offerings[207] Product Development - The company aims to develop and improve new products, including TrueCar+, to drive dealer adoption and increase revenue[211] - TrueCar+ aims to create a seamless end-to-end car-buying experience, but technical integration with existing dealer software remains a significant hurdle[208]

Financial Performance - For the nine months ended September 30, 2025, DXP Enterprises reported approximately $1.3 billion in sales for its Service Centers and Innovative Pumping Solutions segments, reflecting a 14.1% increase compared to the same period in 2024[100]. - The Supply Chain Services segment generated approximately $191.7 million in sales for the nine months ended September 30, 2025, a decrease of 1.1% compared to the same period in 2024[101]. - Acquisition sales for the nine months ended September 30, 2025, were $74.1 million, up from $63.7 million in the same period in 2024[102]. - Organic sales for the nine months ended September 30, 2025, totaled $1.414 billion, compared to $1.267 billion for the same period in 2024, indicating a significant growth[105]. - The net income for the nine months ended September 30, 2025, was $65.8 million, compared to $49.1 million for the same period in 2024, representing a 33.9% increase[105]. - EBITDA for the nine months ended September 30, 2025, was $161.1 million, an increase from $133.3 million in the same period in 2024, reflecting a growth of 20.8%[105]. - Sales for the three months ended September 30, 2025 increased by $40.8 million, or 8.6%, to approximately $513.7 million from $472.9 million for the prior year's corresponding period[115]. - Net income for the three months ended September 30, 2025 was $21.6 million, or 4.2% of sales, compared to $21.1 million, or 4.5% of sales, for the prior year's corresponding period[114]. - Sales for the nine months ended September 30, 2025 increased by $157.8 million, or 11.9%, to approximately $1.5 billion from $1.3 billion for the prior year's corresponding period[125]. Profitability Metrics - The gross profit margin for the nine months ended September 30, 2025, improved to 31.5%, compared to 30.6% for the same period in 2024[105]. - Gross profit margin for the three months ended September 30, 2025 was 31.4%, compared to 30.9% for the prior year's corresponding period, positively impacted by 50 basis points due to recent acquisitions[119]. - Gross profit margin for the nine months ended September 30, 2025 was 31.5%, compared to 30.6% for the prior year's corresponding period, positively impacted by 90 basis points due to recent acquisitions[129]. - Operating income for the three months ended September 30, 2025 increased by $4.1 million to $43.7 million, primarily driven by increases in the Service Centers segment[121]. - Operating income for the nine months ended September 30, 2025 increased by $24.1 million, or 22.7%, to $130.2 million from $106.1 million in the prior year's corresponding period[131]. Cash Flow and Capital Expenditures - Free cash flow for the nine months ended September 30, 2025, was $19.5 million, down from $54.4 million in the same period in 2024[105]. - Net cash provided by operating activities for the nine months ended September 30, 2025, was $56.5 million, down from $70.1 million in the prior year[145]. - Capital expenditures for the nine months ended September 30, 2025, were $37.0 million, compared to $15.7 million in 2024[159]. - Free Cash Flow for the nine months ended September 30, 2025, was $19.5 million, a significant decrease from $54.4 million in 2024[140]. Debt and Working Capital - Total outstanding debt as of September 30, 2025, was $644.0 million, accounting for 56.9% of total capitalization of $1.1 billion[149]. - Net working capital as of September 30, 2025, increased to $364.6 million, up $73.6 million from $291.0 million as of December 31, 2024[157]. - Interest expense for the nine months ended September 30, 2025 decreased by $2.3 million compared with the prior year's corresponding period, primarily due to refinancing of the Term Loan[132]. Strategic Focus - The company is actively monitoring economic conditions and adjusting strategies to mitigate adverse effects from inflation and supply chain challenges[97]. - DXP Enterprises continues to focus on maintaining strong margins despite vendor price increases, demonstrating resilience in its operations[100]. - The Company invested $24.4 million in acquisitions during the nine months ended September 30, 2025, a decrease from $149.4 million in the same period of 2024[158]. Tax and Expenses - The effective tax rate for the three months ended September 30, 2025 was 26.6%, compared to 11.1% for the prior year's corresponding period, primarily due to a lower tax benefit from research and development tax credits[122]. - Selling, general and administrative expenses (SG&A) for the three months ended September 30, 2025 increased by $11.1 million, or 10.4%, to $117.6 million from $106.5 million for the prior year's corresponding period[120]. - Adjusted EBITDA for the three months ended September 30, 2025, was $56.5 million, representing a 7.3% increase from $52.4 million in 2024[138].

Revenue Performance - Total revenue for Q3 2025 increased by 2% to $73.8 million compared to $72.3 million in Q3 2024, while total revenue for the nine months ended September 30, 2025 rose by 6% to $201.0 million from $189.2 million in the same period of 2024[137]. - The customer under the Updated Services Agreements accounted for 63% of total revenue in the nine months ended September 30, 2025, up from 58% in the same period of 2024[126]. - Wholesale capacity services revenue increased by 8% and 16% for the three and nine months ended September 30, 2025, compared to the same periods in 2024, reaching $47,346 thousand and $126,440 thousand respectively[141]. - Commercial IoT service revenue grew by 3% and 4% for the three and nine months ended September 30, 2025, with average subscribers increasing by 6% and 5% respectively, totaling 542,715 for the three months[142]. - SPOT service revenue decreased by $1.0 million and $3.0 million for the three and nine months ended September 30, 2025, primarily due to a decline in average subscribers[143]. - Duplex service revenue fell by $1.2 million and $3.8 million for the three and nine months ended September 30, 2025, attributed to fewer average subscribers following the discontinuation of Duplex device sales[144]. Subscriber and Market Expansion - As of September 30, 2025, the company had approximately 783,000 subscribers worldwide, reflecting the demand for MSS services in remote areas[127]. - The company plans to expand its global network with approximately 90 new antennas across 35 ground stations in 25 countries to enhance service coverage and quality[116]. - The company retains 15% of its current and future network capacity to support other customers, indicating potential for subscriber base growth[125]. Satellite and Technology Development - The company expects to acquire 17 replacement satellites by early 2026, with an option for an additional nine satellites, to ensure continuous service delivery[118]. - The company entered into Launch Services Agreements with SpaceX for two launches of the replacement satellites, anticipated to be completed in 2026[119]. - The company released the RM200M two-way module in October 2025, aimed at integrating into IoT and industrial solutions, reflecting ongoing product development efforts[128]. Financial Position and Cash Flow - Total operating expenses rose to $63.7 million and $193.2 million for the three and nine months ended September 30, 2025, compared to $62.9 million and $185.9 million in 2024[145]. - Cash and cash equivalents decreased to $346.3 million as of September 30, 2025, down from $391.2 million at December 31, 2024, primarily due to capital expenditures[158]. - The principal amount of debt outstanding was $418.7 million at September 30, 2025, an increase from $417.5 million at December 31, 2024, due to new debt issuance[159]. - Net cash provided by operating activities was $445,762 thousand for the nine months ended September 30, 2025, compared to $98,535 thousand in 2024[160]. - Net cash used in investing activities was $485.9 million for the nine months ended September 30, 2025, compared to $107.7 million for the same period in 2024, primarily due to milestone payments totaling $334.8 million to MDA Space and SpaceX[163]. - Net cash used in financing activities was $6.1 million during the nine months ended September 30, 2025, compared to net cash provided of $4.9 million in the same period of 2024[164]. - Deferred revenue, net, as of September 30, 2025, totaled $734.4 million, with the majority expected to be earned over a period exceeding five years[165]. Risk and Compliance - There were no material changes to market risk during the quarter ended September 30, 2025[170]. - No material off-balance sheet transactions were reported[167]. Tax and Currency Impact - The company recorded foreign currency losses of $0.6 million and gains of $15.5 million for the three and nine months ended September 30, 2025, compared to gains and losses in the same periods of 2024[155]. - Income tax expense decreased by $0.6 million and increased by $2.0 million for the three and nine months ended September 30, 2025, compared to the same periods in 2024[156].

Financial Performance - Mach reported total revenue of $273 million and net losses of $36 million for Q3 2025[6]. - Adjusted EBITDA for Q3 2025 was reported at $124 million[20]. Production and Pricing - Average net production was 94.0 thousand barrels of oil equivalent per day, consisting of 21% oil, 56% natural gas, and 23% NGLs[8]. - The average realized price was $64.79 per barrel of oil, $2.54 per Mcf of natural gas, and $21.78 per barrel of NGLs[6]. - Mach achieved a combined initial production rate in excess of 100 million cubic feet of natural gas per day from its first five wells in the Mancos Shale[5]. Capital Expenditures and Costs - Mach incurred total development costs of $59 million, including $53 million of upstream capital[11]. - The 2026 drilling and completion capital program was reduced by 18%, or $63 million, while maintaining prior production guidance[13]. Cash and Debt Position - As of September 30, 2025, Mach had a cash balance of $54 million and remaining availability under the Revolving Credit Facility of $295 million[7]. - The pro forma net-debt-to-Adjusted-EBITDA ratio was 1.3x as of September 30, 2025[7]. Distributions - The company declared a quarterly cash distribution of $0.27 per common unit, payable on December 4, 2025[12].

Financial Performance - Total revenues for Q3 2025 were $186.6 million, a decrease of 6.4% compared to $200.4 million in Q3 2024[24] - Net loss for Q3 2025 was $144.1 million, compared to a net loss of $107.0 million in Q3 2024, representing a 34.6% increase in losses year-over-year[24] - Comprehensive loss for Q3 2025 was $149.5 million, compared to a comprehensive loss of $112.6 million in Q3 2024, indicating a worsening of overall financial performance[26] - For the nine months ended September 30, 2025, Hudson Pacific Properties reported a net loss of $312,124, compared to a net loss of $207,925 for the same period in 2024, reflecting an increase in losses of approximately 50.1%[34] - Total revenues for the nine months ended September 30, 2025, were $575,078, a decrease of 9.1% compared to $632,416 for the same period in 2024[182] Assets and Liabilities - Total assets decreased to $7.8 billion as of September 30, 2025, down from $8.1 billion at the end of 2024, reflecting a 4.1% decline[22] - Total liabilities decreased to $4.3 billion as of September 30, 2025, down from $5.0 billion at the end of 2024, a reduction of 13.1%[22] - The company's total liabilities decreased to $4,310,391 from $4,954,508 at the end of 2024, reflecting a reduction of approximately 13.0%[37] - The total capital of Hudson Pacific Properties rose to $3,433,338 from $3,118,637, an increase of about 10.1%[37] Cash and Liquidity - Cash and cash equivalents increased to $190.4 million from $63.3 million at the end of 2024, indicating a significant improvement in liquidity[22] - Cash provided by operating activities for the nine months ended September 30, 2025, was $61,673 thousand, a decrease of 62.5% compared to $164,495 thousand in 2024[51] - The company’s total cash and cash equivalents and restricted cash at the end of the period was $214,447 thousand, compared to $113,935 thousand at the end of the previous year, reflecting an increase of approximately 88.1%[51] Revenue Segments - Office rental revenues for Q3 2025 were $148.3 million, down 9.0% from $162.9 million in Q3 2024[24] - Studio rental revenues remained relatively stable at $13.6 million in Q3 2025 compared to $13.7 million in Q3 2024[24] - Studio segment revenues for Q3 2025 were $32,038, a decline of 4.2% from $33,451 in Q3 2024[182] Shareholder Information - The weighted average shares of common stock outstanding increased to 451.0 million in Q3 2025 from 141.2 million in Q3 2024, reflecting a significant increase in share count[24] - The company reported a net loss attributable to common unitholders of $138.2 million for the three months ended September 30, 2025, compared to a loss of $100.5 million in 2024[40] - The basic and diluted net loss available to common stockholders for the three months ended September 30, 2025, was $(136,467,000), compared to $(97,918,000) for the same period in 2024[153] Operating Expenses - Operating expenses for Q3 2025 totaled $211.8 million, a decrease of 4.2% from $221.1 million in Q3 2024[24] - The company experienced a total other expenses of $118.9 million for the three months ended September 30, 2025, compared to $84.2 million in the prior year[40] Dividends and Stockholder Equity - The company declared a dividend of $5,047,000 for the three months ended September 30, 2024, compared to $5,047,000 for the previous quarter[32] - As of September 30, 2024, Hudson Pacific Properties, Inc. reported total stockholders' equity of $3,286,312,000, a decrease from $3,395,808,000 as of June 30, 2024[32] Investment and Development - The company owns 20% of the unconsolidated joint venture entity that owns the Bentall Centre property, which is part of its broader investment strategy[54] - The company has five future development properties totaling 2,044,865 square feet, indicating ongoing expansion plans[54] Debt and Financing - Proceeds from unsecured and secured debt amounted to $1,291,000, while payments of unsecured and secured debt were $1,801,467, resulting in net cash provided by financing activities of $117,693[34] - The Company has a total capacity of $795.3 million available under its unsecured revolving credit facility, which can be increased up to $2.0 billion[102] Impairments and Charges - The Company recorded an impairment charge of $18.4 million related to the 625 Second office property during the nine months ended September 30, 2025[75] - The company recognized a loss on deconsolidation of $77.9 million related to Sun Valley Peoria, LLC and Sun Valley Services, LLC during the nine months ended September 30, 2025[64]