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: 001-13695 (Exact name of registrant as specified in its charter) | Delaware | 16-1213679 | | --- | --- | | (State or oth ...

Financial Performance - In Q3 2025, Mercer International Inc. reported Operating EBITDA of negative $28.1 million, a decrease from positive $50.5 million in Q3 2024[2] - The net loss for Q3 2025 was $80.8 million ($1.21 per share), compared to a net loss of $17.6 million ($0.26 per share) in Q3 2024[2] - Total revenues for Q3 2025 decreased by approximately 9% to $458.1 million from $502.1 million in Q3 2024, primarily due to lower pulp and manufactured products sales realizations[14] - Operating loss for Q3 2025 was $67.6 million compared to an operating income of $8.8 million in Q3 2024[50] - The company reported a net loss of $80.8 million in Q3 2025, compared to a net loss of $17.6 million in Q3 2024[45] - Total revenues for the nine months ended September 30, 2025 decreased by approximately 9% to $1,418.6 million from $1,555.0 million in the same period of 2024[36] - Operating EBITDA for the nine months ended September 30, 2025 decreased to negative $1.9 million from positive $144.5 million in the same period of 2024[38] Revenue Breakdown - The pulp segment's revenues decreased by approximately 10% to $318.6 million in Q3 2025 from $354.2 million in Q3 2024, driven by lower sales realizations[19] - Solid wood segment revenues in Q3 2025 decreased by approximately 6% to $117.2 million from $125.1 million in Q3 2024, primarily due to lower manufactured products revenues[30] - Lumber revenues increased by approximately 24% to $61.0 million in Q3 2025 from $49.1 million in Q3 2024, driven by higher sales realizations[31] - Manufactured products revenues decreased by approximately 66% to $12.2 million in Q3 2025 from $35.8 million in Q3 2024, impacted by lower sales realizations and volumes[33] Production and Sales Realizations - Average NBSK pulp sales realizations decreased by approximately 11% to $728 per ADMT in Q3 2025 from $814 per ADMT in Q3 2024[20] - Pulp production for NBSK decreased to 366.7 thousand ADMTs in Q3 2025 from 374.4 thousand ADMTs in Q3 2024, a decline of 2.0%[47] - Lumber production in Q3 2025 was 115.4 million fbm, slightly down from 122.5 million fbm in Q3 2024, a decrease of 5.8%[47] - Average sales realizations for manufactured products were $1,615 per cubic meter in Q3 2025, compared to $3,463 per cubic meter in Q3 2024, a significant drop of 53.4%[47] - Average lumber sales realizations rose by approximately 23% to $553 per Mfbm in Q3 2025 from $451 per Mfbm in Q3 2024 due to lower supply and improved demand[31] Cost and Expenses - Per unit fiber costs increased by approximately 14% in Q3 2025 compared to Q3 2024, with expectations for further increases in Q4 2025 due to supply constraints[26] - The company incurred interest expenses of $28,506 thousand in Q3 2025, compared to $26,429 thousand in Q3 2024[59] - Total depreciation and amortization for the nine months ended September 30, 2025, was $117,390 thousand, slightly down from $121,959 thousand in the same period of 2024[54] - Inventory impairment increased to $31,400 thousand for the nine months ended September 30, 2025, compared to $4,000 thousand in the same period of 2024[54] Liquidity and Assets - As of September 30, 2025, the company had cash and cash equivalents of $98.1 million and total liquidity of approximately $376.1 million[40] - Total current assets decreased to $867.8 million as of September 30, 2025, from $910.0 million at the end of 2024[52] - Long-term debt increased to $1.55 billion as of September 30, 2025, compared to $1.47 billion at the end of 2024[52] - Cash and cash equivalents decreased to $98.1 million as of September 30, 2025, down from $184.9 million at the end of 2024[52] - Cash used in operating activities for the nine months ended September 30, 2025, was $(37,569) thousand, compared to a cash inflow of $19,046 thousand for the same period in 2024[54] Future Outlook - The company expects to realize approximately $30 million in cost savings and reliability improvements by the end of 2025 as part of its "One Goal One Hundred" program[5] - The company is advancing a carbon capture and sequestration project at the Peace River mill, expected to enhance long-term economic viability and sustainability[6] - The company will host a conference call on November 7, 2025, to discuss the earnings release and future outlook[41]

Financial Performance - For the three months ended September 30, 2025, the company reported a net loss of $308.9 million, or $4.33 per diluted share, compared to a net loss of $61.9 million, or $0.89 per diluted share for the same period in 2024, primarily due to a U.S. pension plan settlement loss of $227.7 million [124][144]. - Revenue for the three months ended September 30, 2025 was $460.2 million, a decrease of 7.4% from $497.0 million in the same period of 2024, driven by the timing of software license renewals [127]. - License and Support (L&S) revenue decreased by 20.6% to $83.0 million for the three months ended September 30, 2025, compared to $104.5 million for the same period in 2024, also due to the timing of software license renewals [128]. - Excluding License and Support (Ex-L&S) revenue for the three months ended September 30, 2025 was $377.2 million, down 3.9% from $392.5 million in the same period of 2024, primarily due to lower volume with clients in the DWS and CA&I segments [129]. - Gross profit for the three months ended September 30, 2025 was $117.2 million, with a gross profit margin of 25.5%, compared to $145.0 million and 29.2% for the same period in 2024 [133]. - For the nine months ended September 30, 2025, revenue was $1,375.6 million, a decrease of 6.0% from $1,463.0 million in the same period of 2024, mainly due to the timing of software license renewals [145]. - L&S revenue for the nine months ended September 30, 2025 was $241.7 million, down 13.6% from $279.8 million in the same period of 2024 [146]. - Gross profit for the nine months ended September 30, 2025 was $354.7 million, with a gross profit margin of 25.8%, compared to $410.9 million and 28.1% for the same period in 2024 [151]. - For the nine months ended September 30, 2025, the company reported a net loss of $358.5 million, or $5.06 per diluted share, compared to a net loss of $223.4 million, or $3.23 per diluted share for the same period in 2024 [159][160]. - Total revenue for the nine months ended September 30, 2025 was $1,375.6 million, a decrease of 6.0% from $1,463.0 million in the prior year [161]. - The company's gross profit for the nine months ended September 30, 2025 was $354.7 million, representing a gross profit margin of 25.8%, down from 28.1% in the prior year [161]. Expenses and Costs - The company recognized net cost-reduction charges of $1.0 million related to workforce reductions during the three months ended September 30, 2025 [131]. - Interest expense increased to $18.2 million for the three months ended September 30, 2025, compared to $7.9 million for the same period in 2024, primarily due to increased long-term debt and higher interest rates [137]. - Research and development expenses for the nine months ended September 30, 2025 were $16.5 million, slightly down from $17.5 million in the prior year [153]. - The operating profit for the nine months ended September 30, 2025 was $1.9 million, significantly lower than the $48.8 million reported in the prior year, impacted by goodwill impairment charges [154]. - Interest expense increased to $34.6 million for the nine months ended September 30, 2025, compared to $23.7 million in the prior year, primarily due to higher long-term debt and interest rates [155]. - The company experienced a loss before income taxes of $312.9 million for the nine months ended September 30, 2025, compared to a loss of $134.6 million in the prior year [157]. Revenue Breakdown - Digital Workplace Solutions (DWS) revenue decreased by 3.4% to $382.0 million for the nine months ended September 30, 2025, compared to $395.3 million in the prior year [167]. - Cloud, Applications & Infrastructure Solutions (CA&I) revenue decreased by 5.2% to $542.2 million for the nine months ended September 30, 2025, compared to $571.7 million in the prior year [168]. - Enterprise Computing Solutions (ECS) revenue decreased by 7.5% to $392.1 million for the nine months ended September 30, 2025, compared to $424.0 million in the prior year [169]. Cash Flow and Debt - Cash and cash equivalents at September 30, 2025, were $321.9 million, down from $376.5 million at December 31, 2024 [177]. - Cash used for operations during the nine months ended September 30, 2025, was $244.9 million, compared to cash provided by operations of $58.5 million in the same period of 2024 [180]. - Total debt increased to $734.9 million as of September 30, 2025, from $493.2 million at December 31, 2024, primarily due to the issuance of the 2031 Notes [183]. - The company completed a private placement offering of $700 million aggregate principal amount of the 2031 Notes in June 2025 [184]. - Cash provided by financing activities during the nine months ended September 30, 2025, was $188.1 million, compared to cash used for financing activities of $13.7 million in the prior year [182]. - The company had no borrowings under its Amended and Restated ABL Credit Facility as of September 30, 2025, with $90.6 million available under the facility [196]. - The company expects to meet all covenants and conditions under its various lending and funding agreements for at least the next 12 months [201]. - The company incurred a loss on debt extinguishment of $7.0 million related to the satisfaction and discharge of the 2027 Notes [194]. Pension and Contributions - In September 2025, the company purchased a group annuity contract for approximately $316 million, resulting in a pre-tax settlement loss of $227.7 million for the three and nine months ended September 30, 2025 [202]. - For the nine months ended September 30, 2025, the company made cash contributions totaling $317.2 million, including a discretionary contribution of $250 million to its U.S. defined benefit pension plans [204]. - The company expects to make cash contributions of approximately $24 million for the remainder of 2025, leading to total expected contributions of approximately $342 million for the year [205]. - Future total cash contributions to global defined benefit pension plans are estimated at approximately $78 million in 2026 [206]. - The company made cash contributions of $17.6 million primarily to international defined benefit pension plans for the nine months ended September 30, 2024 [207]. - The company may need additional funding if it cannot generate sufficient cash flows from operations to meet pension contributions [208]. - The company will evaluate opportunities for further reduction of its global defined benefit pension obligations depending on market conditions [209]. - The company may explore additional debt and equity sources to fund its liquidity and capital needs [210]. Accounting and Risk Assessment - There have been no significant changes to the company's critical accounting policies and estimates since the last annual report [211]. - There has been no material change in the company's assessment of its sensitivity to market risk since the last annual report [212].

Financial Performance - Third quarter 2025 revenues were $1,460 million, a decrease of 5% compared to $1,540 million in the prior year period[5][18]. - Net loss attributable to Huntsman Corporation for Q3 2025 was $25 million, an improvement from a net loss of $33 million in Q3 2024[4][5]. - Adjusted EBITDA for Q3 2025 was $94 million, down from $131 million in the same period last year, reflecting a decrease of 28%[4][5]. - Adjusted EBITDA for the nine months ended September 30, 2025, was $240 million, down from $343 million for the same period in 2024, indicating a decline of approximately 30%[21]. - The company reported a net loss of $188 million attributable to Huntsman Corporation for the nine months ended September 30, 2025, compared to a net loss of $48 million for the same period in 2024, representing a significant deterioration in performance[21]. Cash Flow and Liquidity - Free cash flow from continuing operations was $157 million in Q3 2025, compared to $93 million in Q3 2024, representing a 68% increase[4][10]. - Total cash at the end of the period increased to $468 million in Q3 2025, up from $330 million in Q3 2024, representing a 42% increase[25]. - Free cash flow from continuing operations for the nine months ended September 30, 2025, was $105 million, compared to a negative $7 million in the same period of 2024[25]. - Net cash provided by operating activities from continuing operations was $200 million for Q3 2025, a 49% increase from $134 million in Q3 2024[25]. - Cash paid for interest decreased to $5 million in Q3 2025 from $14 million in Q3 2024, a reduction of 64%[25]. - Cash paid for income taxes increased to $18 million in Q3 2025 from $16 million in Q3 2024, reflecting a 13% increase[25]. Dividends and Shareholder Returns - The regular quarterly dividend was reset to $0.0875 per share, a reduction of 65% from the previous dividend, resulting in an annual payout of $0.35 per share[4][6]. Segment Performance - Polyurethanes segment revenues decreased by 5% to $956 million in Q3 2025, primarily due to lower average selling prices[7][18]. - Performance Products segment revenues fell by 12% to $246 million, driven by lower sales volumes and average selling prices[8][18]. - Advanced Materials segment revenues increased by 2% to $265 million, primarily due to higher average selling prices[9][18]. Restructuring and Cost Savings - The company expects to achieve over $100 million in savings from ongoing restructuring programs, projected to be completed by 2026[6]. Balance Sheet and Financial Position - Total assets as of September 30, 2025, were $7,082 million, slightly down from $7,114 million as of December 31, 2024[22]. - Cash increased to $468 million as of September 30, 2025, up from $340 million at the end of 2024, indicating a significant liquidity improvement[22]. - Total debt excluding affiliates rose to $2,008 million as of September 30, 2025, compared to $1,835 million at the end of 2024, reflecting increased leverage[23]. - Net debt excluding affiliates increased to $1,540 million as of September 30, 2025, from $1,495 million at the end of 2024, reflecting a slight increase in financial obligations[23]. - The effective tax rate for the nine months ended September 30, 2025, was -21%, compared to 76% for the same period in 2024, showing a significant tax benefit[21]. - The adjusted effective tax rate for the nine months ended September 30, 2025, was 267%, compared to 34% for the same period in 2024, indicating a substantial increase in tax liabilities[21]. Inventory Management - Inventory levels decreased to $836 million as of September 30, 2025, from $917 million as of December 31, 2024, indicating improved inventory management[22]. Operational Overview - The company operates over 60 manufacturing, R&D, and operations facilities in approximately 25 countries, employing around 6,300 associates[31]. - The company reported revenues of approximately $6 billion from continuing operations for the year 2024[31]. - Adjusted EBITDA is used to measure the operating performance of the business, providing meaningful insight into performance trends[27].

Financial Performance - Total revenue for the three months ended September 30, 2025, was $109.728 million, a 23.5% increase from $88.804 million in the same period of 2024[21] - SaaS revenue reached $83.982 million for the three months ended September 30, 2025, up 37.9% from $60.866 million in the prior year[21] - Net income for the three months ended September 30, 2025, was $13.017 million, compared to $2.928 million in the same period of 2024, representing a significant increase[21] - Gross profit for the nine months ended September 30, 2025, was $226.287 million, up from $180.694 million in the same period of 2024, reflecting a growth of 25.3%[21] - Total revenue for the nine months ended September 30, 2025, reached $304,810,000, up 26.4% from $241,299,000 in the same period of 2024[143] - For the nine months ended September 30, 2025, AvePoint reported a net income of $19.5 million, compared to a net loss of $11.96 million for the same period in 2024[29] Assets and Equity - Total assets as of September 30, 2025, were $743.515 million, an increase from $519.055 million as of December 31, 2024[18] - Total stockholders' equity increased to $466.809 million as of September 30, 2025, from $270.948 million as of December 31, 2024[18] - AvePoint's total stockholders' equity increased to $466,809,000 from $443,135,000 as of June 30, 2025, reflecting a growth of approximately 5.0%[24] - AvePoint's total paid-in capital rose to $970,918,000 as of September 30, 2025, up from $953,446,000 at the end of June 2025, indicating a growth of about 1.5%[24] Cash and Cash Equivalents - Cash and cash equivalents increased to $471.640 million as of September 30, 2025, compared to $290.735 million at the end of 2024, marking a growth of 62.2%[18] - AvePoint's cash and cash equivalents at the end of the period were $471.6 million, a significant increase from $249.8 million at the end of the previous year[29] Operating Expenses - Operating expenses for the three months ended September 30, 2025, totaled $73.454 million, up from $59.931 million in the same period of 2024, indicating a rise of 22.6%[21] - Stock-based compensation expense for the three months ended September 30, 2025, was $10,678,000, compared to $9,811,000 for the same period in 2024, reflecting an increase of approximately 8.8%[24] - Stock-based compensation expenses rose to $31.4 million for the nine months ended September 30, 2025, compared to $29.8 million in the same period of 2024[29] Revenue Recognition and Deferred Revenue - The company’s deferred revenue increased to $174.202 million as of September 30, 2025, compared to $153.308 million at the end of 2024, reflecting a growth of 13.6%[18] - Deferred revenue increased to $174.2 million as of September 30, 2025, up from $153.3 million at the end of 2024, indicating strong future revenue potential[49] - The transaction price allocated to remaining performance obligations was $475.2 million, with $399.6 million related to SaaS and term license and support revenue, expecting to recognize approximately 57% over the next twelve months[54] Shareholder Activities - The company repurchased and retired common stock amounting to $8,356,000 during the three months ended September 30, 2025[24] - The Company authorized a new share repurchase program allowing for the buyback of up to $150 million of common stock, with 1,743,455 shares repurchased at an average price of $15.66 per share during the nine months ended September 30, 2025[109] - A total of 14,625,054 public warrants were exercised during the nine months ended September 30, 2025, generating cash proceeds of $168.2 million[114] Acquisitions - The acquisition of Ydentic on January 29, 2025, was valued at approximately $20.4 million, consisting of $14.9 million in cash and a $5.5 million unconditional purchase obligation[62] - The preliminary fair value of intangible assets acquired in the Ydentic acquisition was $3.9 million, with technology and software valued at $3.6 million[69] - The Company established a deferred tax liability with an offset to goodwill in connection with the Ydentic acquisition due to book-to-tax differences[64] Other Financial Metrics - The company reported a foreign currency remeasurement loss of $4.3 million for the nine months ended September 30, 2025, compared to a loss of $1.2 million in the prior year[29] - The effective tax rate for the three months ended September 30, 2025, was (1.6)%, compared to 5.9% for the same period in 2024[80] - The Company recorded interest income of $0.9 million and $0.1 million for the three and nine months ended September 30, 2025, respectively, related to the mandatorily redeemable noncontrolling interest[72]

Financial Performance - For Q3 2025, Camden reported an EPS of $1.00, compared to a loss of $0.04 in Q3 2024, and a Core FFO of $1.70, slightly down from $1.71 in Q3 2024[6]. - Net income attributable to common shareholders for Q3 2025 was $108.9 million, a significant recovery from a loss of $4.2 million in Q3 2024[27]. - Funds from operations (FFO) for Q3 2025 were $184.2 million, slightly up from $181.5 million in Q3 2024[29]. - Core funds from operations for the nine months ended September 30, 2025, totaled $564.2 million, compared to $563.6 million in the same period of 2024[29]. - The dividend per share increased to $1.05 in Q3 2025, up from $1.03 in Q3 2024, with a dividend payout ratio of 62.9%[29]. - Adjusted EBITDAre for the nine months ended September 30, 2025, was $680.4 million, compared to $672.2 million for the same period in 2024, reflecting a growth of 1.8%[27]. - The company reported a total earnings per common share of $1.00 for Q3 2025, compared to a loss of $0.04 in Q3 2024[86]. - Net income for Q3 2025 was $113,579, compared to a loss of $2,338 in Q3 2024, representing a significant turnaround[89]. - Annualized Adjusted EBITDAre for Q3 2025 was $903,012, up from $895,960 in Q3 2024, indicating a growth of 1.2%[92]. Revenue and Occupancy - Same property revenues increased by 0.8% year-over-year, while expenses rose by 2.3%, resulting in a net operating income (NOI) growth of 0.0%[6]. - The occupancy rate remained stable at 95.5% for both Q3 2025 and Q3 2024, with bad debt decreasing to 0.6% from 0.9% year-over-year[8]. - Property revenues for Q3 2025 reached $395.7 million, a 2.0% increase from $387.2 million in Q3 2024[27]. - The total portfolio occupancy rate was 95.5% as of September 30, 2025, slightly down from 95.6% in the previous quarter[39]. - The average occupancy rate for "Same Property" Communities was 95.5% in Q3 2025, unchanged from Q3 2024[47]. - The company reported a significant increase in revenues from Non-"Same Property" communities, which rose to $15,938 from $7,505 year-over-year[41]. - Total Same Property revenues for Q3 2025 reached $374.669 million, a slight increase of 0.1% from Q2 2025[50]. - Average occupancy across Same Property communities was 95.5% in 2025, up from 95.3% in 2024[54]. Development and Construction - Camden completed the lease-up at Camden Durham and construction at Camden Village District, with a total of 557 homes across these projects costing $211.2 million[9]. - The company has 1,162 units currently under construction, indicating ongoing expansion efforts[37]. - The development pipeline includes 1,162 homes with an estimated total cost of $501.0 million, of which $231.9 million has been incurred to date[60]. - Total completed communities in lease-up reached 557 homes with a total estimated cost of $211.2 million, achieving 63% leased and 61% occupied as of October 31, 2025[60]. Debt and Liquidity - As of September 30, 2025, Camden had approximately $796.3 million in liquidity, including $25.9 million in cash and $770.4 million available under its credit facilities[13]. - Total debt increased to $3.74 billion as of September 30, 2025, from $3.45 billion in the previous year[27]. - The company reported a net debt to annualized adjusted EBITDAre ratio of 4.2x for both the three and nine months ended September 30, 2025, indicating stable leverage[27]. - Total maturing debt as of September 30, 2025, is $3.74 billion, with a weighted average interest rate of 4.0% and a maturity profile averaging 5.2 years[69]. - Unsecured debt constitutes 91.2% of total debt, with a compliance ratio of 22% against a covenant limit of 60%[75]. - The company maintains a strong debt covenant compliance, with consolidated adjusted EBITDAre to total fixed charges at 544%, well above the required 150%[75]. Shareholder Returns and Stock Activity - Camden repurchased 465,742 common shares at an average price of $107.33, totaling $50.0 million, with $400.0 million remaining under its stock repurchase program[12]. - The share price at the end of Q3 2025 was $106.78, down from $123.53 at the end of Q3 2024[27]. - The company plans to maintain a dividend distribution of $1.05 per share for Q1, Q2, and Q3 of 2025[117]. Operating Expenses - Total Property Expenses increased to $145.696 million in Q3 2025, up from $143.360 million in Q3 2024, reflecting a growth of 1.6%[44]. - The company reported a 1.4% growth in expenses across Same Property communities, totaling $136.786 million in Q3 2025[50]. - Salaries and benefits for on-site employees rose by 4.4% to $75,522, representing 18.8% of total operating expenses[58]. - Marketing and leasing expenses increased by 13.8% to $9,270, indicating a strategic focus on enhancing market presence[58]. Regional Performance - The D.C. Metro area contributed 14.2% to the NOI with revenues of $49.263 million, showing a growth of 3.9% from $47.403 million in Q3 2024[47]. - Houston, TX reported a revenue of $48.466 million, a marginal increase of 0.7% compared to $48.125 million in Q3 2024[47]. - The D.C. Metro area reported a revenue increase of 3.8% to $146,071, with NOI growing by 4.1% to $100,089[54]. - Houston, TX experienced a revenue growth of 1.1% to $145,083, while NOI remained relatively stable with a slight increase of 0.2% to $82,542[54]. Rental Rates and Home Sizes - The weighted average monthly rental rate for "Same Property" Communities was $2,011, a slight increase of 0.1% from $2,008 in Q3 2024[47]. - The average rental rate per occupied home increased by 0.2% to $2,327 in Q3 2025 from $2,322 in Q2 2025[52]. - The average rental rate per occupied home in Arizona is $2,314, reflecting a 2.33 per square foot rate[123]. - The average rental rate per occupied home in California is $3,185, reflecting a 3.27 per square foot rate[123]. - The average rental rate per occupied home in Colorado is $2,499, reflecting a 2.61 per square foot rate[123]. - The average rental rate per occupied home in the DC Metro area is $2,741, reflecting a 3.00 per square foot rate[123]. - The average rental rate per occupied home in Southeast Florida is $3,057, reflecting a 2.87 per square foot rate[123]. - The average size of homes in Florida properties is 999 sq. ft. with an average rental rate of $2.30 per sq. ft.[126]. - The average size of homes in Georgia properties is 1,036 sq. ft. with an average rental rate of $1.84 per sq. ft.[126].

Financial Performance - For the first nine months of 2025, the Company's net sales decreased by 1% to $1,230.1 million compared to $1,243.2 million in the same period of 2024[53][68] - Gross profit for the first nine months of 2025 was $312.8 million, representing 25% of net sales, a decrease from 26% in the same period of 2024[71] - Consolidated income from operations for the first nine months of 2025 was $129.1 million, down 1% from $130.4 million in the same period of 2024[55] - The Company's net income after tax for the first nine months of 2025 was $88.3 million, or $7.31 per share, compared to $87.8 million, or $7.30 per share, in the same period of 2024[74] Sales Performance by Division - The Industrial Equipment Division's net sales increased by 16% to $714.8 million, driven by strong demand in excavators, vacuum trucks, and snow removal[56][69] - The Vegetation Management Division's net sales decreased by 18% to $515.3 million, primarily due to weaker demand in forestry, tree care, and agricultural mowing markets[57][70] Expenses and Financial Management - Selling, general and administrative expenses (SG&A) were $171.4 million, accounting for 14% of net sales, a decrease from $178.2 million in the same period of 2024[72] - Interest expense decreased to $10.8 million for the first nine months of 2025, down from $17.1 million in the same period of 2024, primarily due to debt reduction[73] Backlog and Orders - The Company's backlog as of September 30, 2025, totaled $618.3 million, a 15% decrease from $728.8 million year-over-year, although new orders increased by 6%[54] Capital Expenditures and Investments - Capital expenditures for the first nine months of 2025 were $25.4 million, with expectations of $30.0 million to $35.0 million for the full year[77] - Net cash used for investing activities was $41.9 million during the first nine months of 2025, compared to $16.1 million during the same period in 2024, indicating a 160% increase[82] Credit and Financial Position - The Company entered into a 2022 Credit Agreement providing up to $655.0 million in loans, with $255.0 million borrowed under a Term Facility and $400.0 million available under a Revolver Facility[80] - As of September 30, 2025, $210.0 million was outstanding under the 2022 Credit Agreement, with $2.8 million of the revolver capacity committed to standby letters of credit, resulting in $397.2 million in available borrowings[80] - The Company is in compliance with the covenants under the 2022 Credit Agreement as of September 30, 2025, indicating effective financial management[80] - The Company believes its financial position remains robust, supported by a strong balance sheet and healthy cash flow from operations, ensuring it can meet operating needs and explore strategic initiatives[84] Currency and Interest Rate Impact - The total foreign currency translation adjustment for the current quarter decreased stockholders' equity by $7.3 million, reflecting the impact of exchange rate fluctuations[94] - A uniform 10% strengthening or decrease in the value of the U.S. dollar would result in a change in gross profit of $9.5 million for the nine-month period ended September 30, 2025[95] - Assuming a two percentage point change in average interest rates, the Company's interest expense would have changed by approximately $1.1 million for the third quarter of 2025[96] Strategic Considerations - The Company continuously evaluates its capital allocation strategy, including potential share repurchases if market conditions are favorable[84] - Future challenges in the banking industry and credit markets could affect credit availability, creating uncertainty for the Company[83]

Financial Performance - The company has not generated any revenue from drug sales to date, relying primarily on milestone payments and research fees [100]. - Revenue for the nine months ended September 30, 2025, was $0, a decrease of $1.0 million compared to $1.0 million in 2024 [118]. - The net loss attributable to vTv Therapeutics Inc. for the three months ended September 30, 2025, was $8.7 million, compared to a net loss of $4.8 million in 2024 [111]. - Net loss attributable to vTv Therapeutics Inc. increased by $5.0 million, from $14.8 million in 2024 to $19.8 million in 2025 [117]. Expenses - Research and development expenses for the three months ended September 30, 2025, were $7.0 million, an increase of $3.8 million or 117.7% compared to $3.2 million in 2024, driven by increased spending on cadisegliatin and other projects [113]. - General and administrative expenses increased by $0.4 million or 12.1% to $3.7 million for the three months ended September 30, 2025, compared to $3.3 million in 2024 [114]. - Total operating expenses for the three months ended September 30, 2025, were $10.7 million, an increase of $4.2 million compared to $6.5 million in 2024 [111]. - Research and development expenses increased by $4.6 million, or 49.8%, from $9.3 million in 2024 to $14.0 million in 2025, primarily due to increased indirect costs and spending on cadisegliatin [119]. - General and administrative expenses remained flat at $11.0 million for both periods, with a slight decrease of $0.0 million or 0.1% [120]. Cash Flow and Financing - As of September 30, 2025, the company had cash and cash equivalents of $98.5 million, with an accumulated deficit of $319.6 million [124]. - Net cash used in operating activities decreased by $4.5 million, from $20.5 million in 2024 to $16.0 million in 2025 [130]. - Net cash provided by financing activities increased to $77.8 million in 2025, compared to $52.6 million in 2024, driven by a private placement [132]. - The company plans to finance operations through cash reserves and future funding activities, including potential licensing and monetization of programs [134]. - The company has sold 179,400 shares under the TD Cowen ATM Offering for net proceeds of $2.5 million, leaving $47.5 million available to be sold [128]. Research and Development - The company expects to have top-line data from the CATT1 study in the second half of 2026, following a protocol amendment to shorten the study duration from 12 months to 6 months [96]. - The FDA granted Breakthrough Therapy designation for cadisegliatin in 2021, supporting its development as an adjunctive therapy to insulin for type 1 diabetes [95]. - The company initiated a food effect study in June 2025 to assess the impact of food on the pharmacokinetics of cadisegliatin, with data currently being analyzed [97]. - A Phase 2 trial in the Middle East for cadisegliatin in type 2 diabetes patients is expected to begin in the fourth quarter of 2025, involving 300 patients [98]. Financial Risks - The company has no material interest rate exposure, indicating a stable financial position regarding interest rates [144]. - Market risk exposure is limited to cash and cash equivalents with maturities of one year or less, focusing on capital preservation and liquidity needs [145]. - The investment strategy aims to maximize income from investments without assuming significant risk, maintaining cash with high credit quality institutions [145]. - There is no material foreign currency exposure, suggesting minimal risk from currency fluctuations [146].

EXHIBIT 99.1 The Chemours Company Reports Third Quarter 2025 Results Wilmington, Del., November 6, 2025 – The Chemours Company ("Chemours" or "the Company") (NYSE: CC), a global chemistry company with leading market positions in Thermal & Specialized Solutions ("TSS"), Titanium Technologies ("TT"), and Advanced Performance Materials ("APM"), today announced its financial results for the third quarter 2025. Key Third Quarter 2025 Results & Highlights 1 "Our consolidated results exceeded our expectations for ...

"Our primary focus continues to be restoring financial health", said Thomas Capasse, Ready Capital's Chairman and Chief Executive Officer. "Through our decisive exit strategies for our underperforming loan and real estate exposure and risk management of our upcoming debt maturities, we believe we are on the path to balance sheet stability and profitability." Third Quarter Highlights Use of Non-GAAP Financial Information In addition to the results presented in accordance with U.S. GAAP, this press release in ...