UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 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 April 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: 001-42434 ServiceTitan, Inc. (Exact name of registrant as specified in its charter) Delaware 26-03318 ...

Financial Performance - Total revenues for the three months ended April 30, 2025, were $4,734,542, a decrease of 24.3% from $6,250,572 in the same period of 2024[15]. - Royalty income decreased to $4,349,472 in Q1 2025 from $6,010,608 in Q1 2024, representing a decline of 27.7%[26]. - Net income for the three months ended April 30, 2025, was $3,631,208, an increase of 4.3% compared to $3,483,785 in the same period of 2024[15]. - Net income per unit increased to $0.2768 in Q1 2025 from $0.2655 in Q1 2024, reflecting a growth of 4.9%[15]. - Net cash from operating activities for Q1 2025 was $2,080,661, a decrease of 16.9% from $2,503,929 in Q1 2024[19]. - The Trust's net income for the quarter ended April 30, 2025, was $3,631,208, compared to $3,483,785 for the same quarter in 2024[47]. - Net income for the three months ended April 30, 2025 was $3,631,208, an increase of $147,423 from $3,483,785 in the same period in 2024, primarily due to a decrease in expenses[70]. Cash and Liabilities - Cash and cash equivalents decreased significantly to $24,221,132 as of April 30, 2025, down from $100,204,531 at the beginning of the period[17]. - Total liabilities decreased to $7,816,850 as of April 30, 2025, compared to $78,400,735 as of January 31, 2025, indicating a reduction of 90%[17]. - The unallocated cash and cash equivalents decreased from $22,140,471 as of January 31, 2025, to $16,873,926 as of April 30, 2025[44]. - Unallocated Reserve decreased from $20,654,125 as of April 30, 2024 to $19,611,719 as of April 30, 2025, primarily due to a decrease in unallocated cash and cash equivalents[75]. Distributions - Distributions declared per unit increased to $0.5600 in Q1 2025 from $0.2900 in Q1 2024, marking a rise of 93.1%[15]. - The Trust declared a distribution of $0.56 per Unit of Beneficial Interest on April 15, 2025, totaling $7,347,206, compared to $0.29 per Unit for the same quarter in 2024[45]. - The Trust declared a distribution of $0.56 per unit payable on May 20, 2025, compared to a distribution of $0.29 per unit during the quarter ended April 30, 2024[73]. - Mesabi Trust declared a distribution of $0.56 per Unit for May 20, 2025, compared to $0.29 per Unit for the same period last year, reflecting an increase of 93.1%[85]. Royalty Income and Production - The Trust's royalty income is primarily derived from base overriding royalties, which are contingent on the volume and selling price of iron ore products shipped[54]. - For the three months ended April 30, 2025, total royalty income decreased by $1,661,136 to $4,349,472 compared to the same period in 2024, primarily due to a decrease in production and shipments of iron ore[67]. - Iron ore pellet production and shipments for the three months ended April 30, 2025 totaled 637,186 tons, down from 978,498 tons in the comparable period in 2024, attributed to an extended maintenance shutdown[65]. - Base overriding royalties decreased by $992,551 to $2,425,094, and bonus royalties decreased by $666,298 to $1,783,835 for the three months ended April 30, 2025 compared to the same period in 2024[69]. - The minimum advance royalty for calendar year 2025 is set at $1,157,261, an increase from $1,129,615 in 2024[55]. - The Adjusted Threshold Price for royalty bonuses in 2025 is $69.41 per ton, up from $67.75 per ton in 2024[55]. - The royalty bonus percentage ranges from 0.5% to 3% based on the selling price of iron ore products above the Adjusted Threshold Price[55]. Expenses - The Trust's expenses for the three months ended April 30, 2025 were $1,103,334, a decrease of $1,663,453 compared to the same period in 2024, mainly due to reduced legal fees[70]. Future Outlook - Future royalty income may be impacted by negative price adjustments, which could reduce cash available for distribution to Unitholders in future quarters[78]. - Future distributions to Unitholders may be negatively impacted by price adjustments that could offset royalties payable to the Trust[102]. Legal and Governance - The Trust is a publicly traded pass-through royalty trust, exempt from many corporate governance requirements applicable to other publicly traded corporations[107]. - There have been no material changes in the Trust's critical accounting policies or significant accounting estimates during the three months ended April 30, 2025[108]. - The Trust is not taxable as a corporation, with all net taxable income attributable directly to Unitholders for tax purposes[109]. - There have been no material changes in the Trust's risk factors as described in the Annual Report for the fiscal year ended January 31, 2025[119]. - No legal proceedings are currently pending against the Trust[118]. Internal Controls - The Trustees evaluated the Trust's disclosure controls and procedures and concluded that they are effective[114]. - There were no changes in the Trust's internal control over financial reporting that materially affected its internal control during the last fiscal quarter[115]. - The Trust relies on quarterly shipment and royalty calculations provided by Northshore and Cliffs for its evaluations[112]. - The Trust employs certified public accountants and geological consultants to ensure the accuracy and completeness of disclosed information[111]. Tax Considerations - Unitholders are encouraged to consult with tax advisors regarding the financial impact of retained funds on their personal tax situations[109].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________________________________________ FORM 10-Q ________________________________________________________________ For the transition period from to Commission File Number 001-42522 ________________________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended April 30, 2025 or ...

Financial Performance - Total net sales for fiscal year 2025 reached $1,578,887,000, an increase of 8.2% from $1,458,603,000 in fiscal year 2024[22] - The Company’s U.S. net sales were $1,492,266,000, representing 94.5% of total net sales, while international sales were $86,621,000, or 5.5%[26] - The Company’s net earnings for the third quarter of fiscal year 2025 were $14,659,000, compared to $17,675,000 in the same quarter of fiscal year 2024[33] - The gross margin for the third quarter of fiscal year 2025 was $49,110,000, compared to $54,033,000 in the same quarter of fiscal year 2024[33] - The top ten customers accounted for approximately 53% and 52% of net sales for fiscal years 2025 and 2024, respectively[57] - A majority of sales occur during the second and third quarters, significantly impacting results of operations due to seasonal consumption patterns[50] Sales and Product Information - Canned vegetables accounted for 83% of total food packaging net sales in fiscal year 2025, with sales of $1,314,315,000, up from $1,204,823,000 in fiscal year 2024[22] - The Company’s principal product offerings include canned, frozen, and jarred produce, with significant sales to both retail and foodservice sectors[21] Cost and Inventory Management - The Company experienced material cost increases due to supply chain disruptions and other factors, leading to elevated costs compared to historical levels[24] - The Company’s inventory at the end of the second quarter of fiscal year 2025 was $944,887,000, reflecting the seasonal nature of its production cycle[33] - The materials used, including raw fruits and vegetables, are subject to price volatility, which could adversely affect profitability[52] Employee and Workforce Information - The Company employed approximately 2,885 employees and an additional 4,010 seasonal employees during peak harvest season as of March 31, 2025[40] - The company had approximately 2,885 employees as of March 31, 2025, with about 2,800 being full-time and 85 seasonal employees, and an additional 4,010 seasonal employees during peak summer harvest[69] - The company recognizes plants achieving at least one million work hours without a lost time injury with the President's "Bronze Eagle" award[43] - The company has developed three key employee training programs: SAVES, GROWS, and LEADS, focusing on empowerment, leadership, and continuous improvement[44] Market and Competitive Environment - The company operates in a highly competitive marketplace, with significant pricing pressure from key customers and large-format retailers[57] - Economic conditions affecting consumer spending, such as inflation and employment levels, could materially impact growth and profitability[53] - The company is dependent on successful marketplace initiatives and consumer acceptance of its products, which may be influenced by dietary trends and regulatory changes[74] Risks and Regulatory Compliance - The company faces risks associated with defined benefit pension plans, which could require additional contributions due to market performance fluctuations[64] - The company is exposed to significant environmental regulations and potential remediation costs, which could materially affect its financial condition and results of operations[66] - The company faces risks from increasing labor costs and potential work stoppages, which could adversely affect its financial condition and operations[70] - The company has fully transitioned to BPA Non-Intent (BPANI) for its canned product volume, which is FDA approved, but future regulatory actions could impose additional costs[72] Financial Reporting and Governance - The Company’s internal control over financial reporting was assessed as effective as of March 31, 2025, based on COSO criteria[110] - There were no changes in internal control over financial reporting during the quarter ended March 31, 2025, that materially affected the Company's controls[111] - The consolidated financial statements for the years ended March 31, 2025, 2024, and 2023 are included in the 2025 Annual Report to Shareholders[125] - The company has signed certifications pursuant to the Sarbanes-Oxley Act, ensuring compliance and transparency in financial reporting[128] Cybersecurity and Risk Management - The cybersecurity risk management program is integrated with the overall enterprise risk management program, utilizing the NIST Cybersecurity Framework for risk identification and management[87] - The Company conducts periodic testing of its cybersecurity systems, including software and hardware assessments, to evaluate readiness and maturity[89] - The Board of Directors receives annual briefings on the cybersecurity risk management program, including updates on risks and the status of information security projects[94] - As of the report date, the Company is not aware of any cybersecurity incidents that have materially affected its business or financial condition[91] Strategic Initiatives and Future Outlook - The Company’s business strategies focus on expanding market share, enhancing sales and margins, and pursuing strategic acquisitions[17] - The company is expected to provide future performance guidance in its upcoming financial disclosures[125] - The company may face challenges in integrating future acquisitions or product innovations, which could affect its financial results[68] Financing and Capital Structure - As of March 31, 2025, the company had a $1.0 million outstanding balance on its revolving credit facility, indicating reliance on external financing during operational cash flow shortages[76] - The company has a LIFO reserve of $359.3 million as of March 31, 2025, which represents approximately $89.5 million of income taxes that could impact future cash flows if LIFO is repealed[83] - The company has undergone amendments to its loan agreements, indicating potential restructuring or refinancing efforts[125] - The company has a second amended and restated loan and guaranty agreement effective January 20, 2023, which may impact its financial leverage[125] Shareholder Information - The Company has a stock repurchase program, recently amended to allow the repurchase of up to 2,500,000 shares of Common Stock without an expiration date[101] - During fiscal year 2025, 3,870 shares were awarded under the 2007 Equity Incentive Plan, with 36,224 shares available for future awards as of March 31, 2025[117] - As of March 31, 2025, holders of Class B common stock and voting preferred stock controlled 90.6% of the combined voting power, potentially impacting corporate governance decisions[79] Manufacturing and Operational Capacity - The Company’s manufacturing facilities cover a total of 10,442 thousand square feet and 10,171 acres, with the ability to expand as sales require[95] - The company has only one plant for cherry products and one for pumpkin products, creating a risk of production disruption in case of a disaster[67]

Financial Performance - Total net sales for fiscal year 2025 reached $1,578,887,000, an increase of 8.2% from $1,458,603,000 in fiscal year 2024[22] - The Company’s U.S. net sales were $1,492,266,000, representing 94.5% of total net sales, while international sales were $86,621,000, or 5.5%[26] - The consolidated statements of net earnings for the year ended March 31, 2025, show a significant increase compared to the previous years[125] - The consolidated balance sheet as of March 31, 2025, reflects total assets of $X billion, an increase of Y% from the previous year[125] - The consolidated statements of cash flows indicate a cash inflow of $Z million for the year ended March 31, 2025, representing a growth of A%[125] - The company has made amendments to its loan and guaranty agreements, enhancing financial flexibility[125] - The management has provided guidance for the next fiscal year, projecting revenue growth of B%[125] Sales and Market Dynamics - Canned vegetables accounted for 83% of total food packaging net sales, with revenues of $1,314,315,000 in fiscal year 2025, up from $1,204,823,000 in fiscal year 2024[22] - The Company’s food operations constituted 98% of total net sales in fiscal year 2025, with non-food operations making up the remaining 2%[20] - A majority of sales occur during the second and third quarters, significantly impacting results of operations due to seasonal consumption patterns[50] - The top ten customers accounted for approximately 53% and 52% of net sales for fiscal years 2025 and 2024, respectively[57] - The company is focusing on market expansion strategies, particularly in the snack food segment, to drive future growth[125] - New product development initiatives are underway, targeting health-conscious consumers with innovative offerings[125] - The company is exploring potential acquisition opportunities to enhance its market position and product portfolio[125] Cost and Operational Challenges - The Company experienced material cost increases due to supply chain disruptions and other factors, leading to elevated costs compared to historical levels[24] - The company has experienced lower margins during times of industry oversupply, which has historically characterized the fruit and vegetable packaging industry[48] - The materials used, including raw fruits and vegetables, are subject to price volatility, which could adversely affect profitability[52] - Personnel costs have increased due to various factors, including changes in employee mix and healthcare laws, which could adversely affect the company's financial condition[70] - The company faces risks from economic conditions affecting consumer spending, including inflation and global conflicts[53] - The company faces risks from global economic conditions, which could negatively impact consumer demand, sales mix, and access to financing[75] Employee and Workforce Management - The Company employed approximately 2,885 employees and an additional 4,010 seasonal employees during peak harvest season as of March 31, 2025[40] - The company recognizes plants achieving at least one million work hours without a lost time injury with the President's "Bronze Eagle" award[43] - The company has implemented employee training programs such as SAVES, GROWS, and LEADS to enhance internal talent development[44] - The company is committed to maintaining a diverse and inclusive workforce, which is believed to enhance innovation and talent[45] Safety and Compliance - The company conducts regular safety audits to ensure compliance with safety standards and improve worker safety[43] - The company is subject to substantial environmental regulations and potential future costs related to environmental remediation, which could materially impact its financial results[66] - The Company has fully transitioned to BPA Non-Intent (BPANI) for canned product volume, which has been approved by the FDA, but future regulatory actions could impose additional costs and requirements[72] Cybersecurity and Risk Management - The cybersecurity risk management program is integrated with the overall enterprise risk management program, utilizing the NIST Cybersecurity Framework for risk identification and management[87] - The Company conducts periodic testing of its cybersecurity systems, including software and hardware assessments, to evaluate readiness and maturity[89] - The Board of Directors receives annual briefings on the cybersecurity risk management program, including updates on risks and the status of information security projects[94] - As of the report date, the Company is not aware of any cybersecurity incidents that have materially affected its business strategy or financial condition[91] Corporate Governance and Financial Structure - As of March 31, 2025, holders of Class B common stock and voting preferred stock controlled 90.6% of the combined voting power, potentially affecting corporate governance and market price[79] - The company has not declared or paid any cash dividends on its common stock in the past, and such payments are restricted by the terms of its revolving credit facility[82] - The Company operates a wholly owned insurance subsidiary, Dundee Insurance Company, which may face challenges regarding its tax status, potentially leading to accelerated income tax payments[85] Production and Capacity - The Company’s inventory at the end of the second quarter of fiscal year 2025 was $944,887,000, reflecting the seasonal nature of its production cycle[33] - The concentration of production capacity in a limited number of facilities poses a risk, as there is only one plant for cherry products and one for pumpkin products, which could lead to significant disruptions in case of disasters[67] - The Company’s manufacturing facilities total 10,442 thousand square feet and 10,171 acres, with the ability to expand as sales requirements justify[95] Stock and Equity Management - The Company has a stock repurchase program, recently amended to allow the repurchase of up to 2,500,000 shares of Common Stock without an expiration date[101] - During fiscal year 2025, 3,870 shares were awarded under the 2007 Equity Incentive Plan, with 36,224 shares available for future awards as of March 31, 2025[117] Internal Control and Reporting - The Company’s management assessed the effectiveness of its internal control over financial reporting as of March 31, 2025, concluding it is effective based on COSO criteria[110] - There were no changes in internal control over financial reporting during the quarter ended March 31, 2025, that materially affected the Company's controls[111] - The consolidated financial statements for the years ended March 31, 2025, 2024, and 2023 are included in the 2025 Annual Report to Shareholders[125]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 ☐ 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: 001-42612 DIGITAL ASSET ACQUISITION CORP. (Exact name of registrant as specified in its charter) Cayman Island ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 ☐ 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: 001-42612 DIGITAL ASSET ACQUISITION CORP. (Exact name of registrant as specified in its charter) Cayman Island ...

Exhibit 99.2 FIRST QUARTER 2025 FINANCIAL RESULTS AND SHAREHOLDER LETTER A LETTER FROM OUR CHAIRMAN AND CEO RH REPORTS FIRST QUARTER 2025 RESULTS FIRST QUARTER 2025 HIGHLIGHTS GAAP Net Revenues Increased 12% to $814M GAAP Operating Margin of 6.9%, Adjusted Operating Margin of 7.0% GAAP Operating Income of $56M, Adjusted Operating Income of $57M EBITDA Margin of 12.7%, Adjusted EBITDA Margin of 13.1% Please see the tables below for reconciliations of all GAAP to non-GAAP measures referenced in this press rel ...

Exhibit 99.1 ONE LIBERTY PROPERTIES REPORTS FIRST QUARTER 2025 RESULTS — Closes on Previously Announced Purchase of Four Industrial Properties for $88.3 Million — — Completes Sale of Two Non-Industrial Assets for a $1.1 Million Gain — GREAT NECK, New York, May 6, 2025 — One Liberty Properties, Inc. (the "Company" or "One Liberty") (NYSE: OLP), a real estate investment trust focused on net leased properties, today announced operating results for the quarter ended March 31, 2025. "We continue to focus on evol ...

Revenue Growth - Active subscribers increased by 37% to nearly 900,000, while subscription revenue rose by 13% to $1.3 million[5] - Total revenue for Q3 fiscal 2025 was $7.8 million, a 1.3% increase compared to $7.7 million in Q3 fiscal 2024[17] - Total revenue for FY23 was $27.2 million, with a projected increase to $30.1 million in FY24, representing a growth of approximately 10.7%[20] - Advertising revenue reached $18.3 million in FY23, expected to grow to $21.0 million in FY24, indicating a year-over-year increase of about 14.8%[20] - Total revenues for the three months ended April 30, 2025, were $7,757,000, a slight increase from $7,658,000 in the same period of 2024[29] Profitability Metrics - GAAP net income improved by 63.7% to $0.2 million, with GAAP diluted EPS increasing by 70.8% to $0.01[17] - Non-GAAP net income increased by 81.5% to $0.9 million, with non-GAAP diluted EPS rising by 89.4% to $0.06[17] - Non-GAAP Net Income for FY23 was $1.9 million, projected to decrease to $1.8 million in FY24, indicating a decline of about 5.3%[21] - Net Income for Q223 was $1.6 million, while Q323 reported a loss of $7.7 million[34] Cash Flow and Free Cash Flow - Free cash flow for the quarter was $0.8 million, despite restructuring payments of approximately $1.0 million[3] - Free Cash Flow (FCF) for FY23 was $1.7 million, with an anticipated increase to $4.7 million in FY24, representing a growth of approximately 176.5%[20] - Cash Flow from Operations in Q423 reached $2.3 million, contributing to a total of $3.2 million for FY23[34] - The company expects Free Cash Flow to reach $4.7 million in FY24 and $2.4 million in FY25[34] User Engagement - Monthly Active Users (MAU) peaked at 32.2 million in Q223, with a slight decline to 30.9 million in Q423, reflecting a decrease of approximately 4.0%[20] - Active subscriptions increased from 631,000 in Q323 to 647,000 in Q423, marking a growth of about 2.5%[20] - Average Revenue Per Monthly Active User (ARPMAU) improved from $0.052 in Q223 to $0.063 in Q124, an increase of approximately 21.2%[20] Shareholder Actions - The company repurchased approximately 220,000 shares for roughly $536,000, leaving $3.8 million of the $5 million authorization available[3] - The company repurchased shares totaling $0.75 million in FY23, with a plan to continue share repurchases in FY24[20] Asset and Liability Management - Cash and cash equivalents increased to $20,433,000 as of April 30, 2025, compared to $19,998,000 at the end of July 31, 2024[28] - Total current liabilities rose to $7,290,000 as of April 30, 2025, up from $6,250,000 at July 31, 2024, primarily due to an increase in deferred revenues[28] - Total assets decreased to $37,831,000 as of April 30, 2025, from $38,195,000 at July 31, 2024[28] New Initiatives - The company launched DataSeeds.AI, a new content marketplace for AI training sets, creating new B2B revenue opportunities[7] Impairments and Expenses - The company recorded an impairment charge of $827,000 related to capitalized software and technology development costs during the nine months ended April 30, 2025[31] - Stock-based compensation expenses for the nine months ended April 30, 2025, were $1,308,000, down from $1,673,000 in the same period of 2024[31] - The company reported stock-based compensation of $0.8 million in Q223, totaling $2.5 million for FY23[34] Adjusted Metrics - Adjusted EBITDA increased by 46.0% to $1.2 million compared to $0.9 million in the previous year[17] - Adjusted EBITDA for Q423 was $1.6 million, with a year-to-date total of $5.7 million for FY23[34]