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: 001-36869 PJT Partners Inc. (Exact name of registrant as specified in its charter) Delaware 36-4797143 (State or other jurisdic ...

Revenue Growth - The Company's revenues increased to $239.6 million in the quarter ended September 30, 2025, from $224.4 million in the quarter ended September 30, 2024, an increase of $15.3 million, or 7%[86] - Revenue increased to $474.4 million for the six months ended September 30, 2025, up by $38.3 million or 9% from $436.1 million in the same period in 2024[104] - Patient management services revenues rose to $297.6 million, an increase of $11.2 million or 4%, while network solutions services revenues increased to $176.8 million, up by $27.0 million or 18%[104] Cost and Expenses - Cost of revenues increased to $181.5 million in the quarter ended September 30, 2025, from $173.6 million in the quarter ended September 30, 2024, an increase of $7.8 million, or 5%[87] - General and administrative expense increased to $22.3 million in the quarter ended September 30, 2025, from $22.1 million in the quarter ended September 30, 2024, an increase of $0.2 million, or 1%[88] - General and administrative expenses increased to $43.6 million, up by $1.4 million or 3%, accounting for approximately 9% of revenues[107] Profitability - Income before income tax provision increased to $35.9 million in the quarter ended September 30, 2025, from $28.7 million in the quarter ended September 30, 2024, an increase of $7.2 million, or 25%[89] - Net income increased to $27.9 million in the quarter ended September 30, 2025, from $23.4 million in the quarter ended September 30, 2024, an increase of $4.5 million, or 19.3%[95] - Gross profit increased to $58.2 million in the quarter ended September 30, 2025, from $50.7 million in the quarter ended September 30, 2024, an increase of $7.4 million, or 14.6%[95] - Income before income tax provision increased to $71.2 million, a rise of $14.5 million or 26% compared to $56.7 million in the same period in 2024[108] - Net income for the six months ended September 30, 2025, was $55.1 million, reflecting a 22.6% increase from $45.0 million in the prior year[103] - Gross profit for the six months ended September 30, 2025, was $114.8 million, representing a 16.1% increase from $98.9 million in the prior year[103] Cash Flow - Cash and cash equivalents increased to $207.5 million as of September 30, 2025, up by $36.9 million from $170.6 million as of March 31, 2025[110] - Net cash provided by operating activities rose to $80.0 million, an increase of $17.3 million from $62.7 million in the same period in 2024[114] Taxation - The effective tax rate was 22% for the quarter ended September 30, 2025, compared to 18% for the quarter ended September 30, 2024[89] - The effective tax rate for the six months ended September 30, 2025, was 23%, compared to 21% for the same period in 2024[108] Acquisitions - The Company acquired a privately held technology firm during the quarter ended September 30, 2025, enhancing its bill review process[85] Future Expectations - The company expects general and administrative expenses to remain at approximately 9% to 11% of revenues in future quarters[1]

(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 Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q 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: 001-37846 QUOIN PHARMACEUTICALS LTD. (Exact name of registrant as specified in its chart ...

Financial Performance - The company completed a $60.3 million oversubscribed private placement, reducing total debt obligations and enhancing financial stability [5]. - Cash, cash equivalents, and marketable securities as of September 30, 2025, totaled $4.1 million, down from $27.6 million at the end of 2024, but expected to fund operations into 2028 [10]. - Net loss for Q3 2025 was $7.9 million, compared to $12.7 million for the same period in 2024, reflecting improved financial performance [10]. - Total liabilities as of September 30, 2025, were $22.1 million, down from $33.1 million at the end of 2024, indicating improved financial health [14]. Research and Development - Research and development expenses for Q3 2025 were $3.2 million, a decrease of $3.0 million compared to $6.2 million in Q3 2024 [10]. - The company plans to initiate a Phase 1 clinical trial for RT-114, a novel oral therapy targeting obesity, by the end of 2025 [7]. - Preclinical data presented at ObesityWeek® 2025 showed that oral semaglutide delivered via RaniPill® demonstrated comparable bioavailability and weight loss to subcutaneous administration [6]. Corporate Governance - Abraham Bassan and Vasudev Bailey, Ph.D., were appointed to the Board of Directors, enhancing the company's governance [5]. Collaboration and Licensing - Rani Therapeutics entered into a collaboration and license agreement with Chugai Pharmaceutical Co. valued at up to $1.085 billion to develop an oral therapy [5]. Operating Expenses - General and administrative expenses for Q3 2025 were $4.0 million, down from $5.6 million in Q3 2024, primarily due to lower compensation costs [10].

Financial Performance - The company reported a net loss of $41.4 million and $152.1 million for the three and nine months ended September 30, 2025, respectively, with an accumulated deficit of $2.0 billion as of the same date [135]. - The net loss for the three months ended September 30, 2025, was $41.400 million, a reduction of 38% from a net loss of $66.293 million in 2024 [166]. - For the nine months ended September 30, 2025, the net loss was $152.1 million, a decrease of $45.6 million or 23.1% compared to a net loss of $197.7 million in 2024 [174]. Cash and Liquidity - The company has $277.1 million in cash and cash equivalents, expecting its cash runway to fund operations into the second half of 2027 [135]. - As of September 30, 2025, the company had cash and cash equivalents and investments totaling $277.1 million, consisting of bank deposits, money market funds, and available-for-sale securities [210]. - Cash used in operating activities for the nine months ended September 30, 2025, was $121.6 million, compared to $163.6 million in 2024, a decrease of $42.0 million or 25.7% [190]. - For the nine months ended September 30, 2025, cash provided by financing activities was $110.9 million, primarily from $105.3 million in net proceeds from the issuance of common stock [196]. - The primary use of cash is for operating expenses, including clinical manufacturing and research and development expenditures [197]. Research and Development - The company is focusing on three core programs: ALPHA3, RESOLUTION, and TRAVERSE clinical trials, while other product candidates are in pre-clinical studies [132]. - The ALPHA3 trial for cemacabtagene ansegedleucel (cema-cel) has over 50 activated trial sites in the U.S. and Canada, with additional sites in Australia and South Korea expected to open in early 2026 [120]. - ALLO-316 demonstrated a confirmed overall response rate (ORR) of 31% in patients with high CD70 expression, with 44% achieving at least a 30% reduction in tumor burden [128]. - The ALPHA3 trial's primary endpoint is event-free survival (EFS), targeting MRD-positive patients who are at high risk for relapse [121]. - The company anticipates proof-of-concept data for ALLO-329 by the first half of 2026, which will include both biomarker and clinical data [131]. - The company anticipates increased research and development expenses as clinical programs progress and additional product candidates are developed [157]. Expenses and Cost Management - Research and development expenses for the three months ended September 30, 2025, were $31.164 million, a decrease of 30% from $44.713 million in 2024 [166]. - General and administrative expenses decreased by 16% to $13.737 million in the three months ended September 30, 2025, compared to $16.333 million in 2024 [166]. - Total operating expenses for the three months ended September 30, 2025, were $44.901 million, down 37% from $71.774 million in 2024 [166]. - For the nine months ended September 30, 2025, total research and development expenses were $121.5 million, a decrease of $25.8 million or 17.5% compared to $147.3 million in 2024 [177]. - General and administrative expenses for the three months ended September 30, 2025, were $13.7 million, down from $16.3 million in 2024, a decrease of $2.6 million or 15.9% [169]. Strategic Collaborations and Agreements - The FDA granted Regenerative Medicine Advanced Therapy (RMAT) designation for ALLO-316 for adult patients with advanced or metastatic renal cell carcinoma [127]. - The company has committed approximately $37.3 million in funding for the development of Foresight Diagnostics' MRD assay [152]. - The company has a minimum funding commitment for the overall development program under the Amended Notch Agreement [142]. - The company has committed up to $15.0 million for a strategic collaboration with MD Anderson, with upfront payments totaling $6.0 million made in 2020 and 2023 [202]. - The company has expanded its CD19 license territory to include the EU and the UK, with options to expand to China and Japan upon meeting certain conditions [133]. Market and Financial Risks - The company faces foreign exchange risk due to milestone payments in Euros under its collaboration agreement with Servier, with $23.5 million of deposits placed in escrow as of September 30, 2025 [211]. - The company expects to finance its cash needs through equity or debt financings and collaboration arrangements until substantial product revenue is generated [198]. - A 10% change in interest rates would not have a material effect on the fair market value of the company's cash equivalents and available-for-sale securities [210]. - The company has critical accounting policies related to accrued research and development expenditures, stock-based compensation, and leases, which significantly impact its financial statements [206]. Workforce and Operational Changes - The company initiated a workforce reduction of approximately 28% of its employees, incurring about $3.3 million in cash-based expenses related to severance payments and benefits [134].

Financial Performance - Pre-tax income for Q3 2025 was $90.6 million, significantly up from $14.1 million in Q3 2024, with diluted EPS increasing to $4.90 from $0.52[2] - Year-to-date pre-tax income for 2025 reached $285.3 million, up from $167.5 million for the same period in 2024, with diluted EPS increasing to $15.47 from $8.59[8] - Net income for Q3 2025 was $67,888,000, significantly higher than $9,392,000 in Q3 2024, representing a 620.5% increase[26] - Basic earnings per share for Q3 2025 were $5.05, compared to $0.54 in Q3 2024, reflecting an increase of 834.3%[26] - Income before income taxes for the nine months ended September 30, 2025, was $285,330,000, up 70.3% from $167,536,000 in the same period of 2024[26] Premiums and Revenue - Gross premiums earned in Q3 2025 rose by 13.4% to $301.1 million compared to $265.5 million in Q3 2024, driven by a higher volume of policies in force[3] - Total gross premiums earned for the nine months of 2025 increased by 15.1% to $904.1 million from $785.7 million in the same period of 2024[9] - Net premiums earned rose to $194,991,000 in Q3 2025, up 25.1% from $155,824,000 in Q3 2024[26] - Total revenue for the nine months ended September 30, 2025, reached $654,703,000, a 11.2% increase compared to $588,176,000 for the same period in 2024[26] Loss Ratios and Expenses - The gross loss ratio improved to 22.0% in Q3 2025 from 39.8% in Q3 2024, reflecting lower catastrophic event activity and reduced claim frequency[5] - Losses and loss adjustment expenses for the nine months of 2025 decreased to $189.9 million from $264.0 million in 2024, with a gross loss ratio of 21.0% compared to 33.6%[10] - Policy acquisition and underwriting expenses for the nine months of 2025 rose to $89.5 million from $71.7 million in 2024, attributed to a higher volume of premiums[11] - Total expenses decreased to $125,751,000 in Q3 2025 from $161,237,000 in Q3 2024, a reduction of 22.0%[26] Investment and Other Income - The company reported net investment income of $17,529,000 for Q3 2025, up 27.0% from $13,714,000 in Q3 2024[26] - Policy fee income increased to $1,569,000 in Q3 2025, compared to $1,229,000 in Q3 2024, marking a growth of 28.0%[26] Shareholder Returns - Book value per share increased to $63.41 at the end of Q3 2025, up from $43.45 at the end of Q3 2024[22] - The company declared dividends per share of $0.40 for both Q3 2025 and Q3 2024, maintaining consistent returns to shareholders[26] Corporate Developments - The company established Exzeo as an independent, publicly traded entity, enhancing shareholder value[3] - Interest expense decreased to $1.0 million in Q3 2025 from $3.4 million in Q3 2024 due to the conversion of convertible senior notes[7]

Revenue Performance - Net revenue for the first quarter of fiscal 2026 was $292.5 million, a 13.5% increase from $257.7 million in the same period last year[97]. - Revenue from Core IoT product applications surged by 73.8%, driven by a 64.1% increase in units sold and a 5.9% rise in average selling prices[97][102]. - Revenue from Mobile product applications decreased by 18.4%, primarily due to a $10.5 million drop in licensing revenue despite a 21.4% increase in units sold[97][102]. - The Enterprise and Automotive product line generated $147.7 million, remaining flat compared to the previous year, with a 9.0% increase in units sold offset by an 8.2% decrease in average selling prices[101][102]. Financial Metrics - Gross margin decreased to 42.6% from 46.9% year-over-year, primarily due to increased amortization of acquired intangible assets and reduced revenue from licensing[98][103]. - Operating expenses totaled $147.8 million, a slight decrease from $149.3 million in the prior year, with research and development expenses rising to $94.4 million[101][106]. - Net loss for the quarter was $20.6 million, compared to a net loss of $23.1 million in the same quarter last year[101]. - Interest expense decreased significantly to $5.8 million from $11.7 million in the prior year due to the early repayment of the Term Loan Facility[112]. Cash Flow and Liquidity - Cash and cash equivalents increased to $459.9 million, up $7.4 million from $452.5 million as of June 2025[99]. - As of September 2025, cash and cash equivalents increased to $459.9 million from $391.5 million in June 2025, reflecting a positive cash flow trend[117]. - Cash provided by operating activities for the three months ended September 2025 was $30.2 million, a significant improvement compared to cash used of $11.4 million in the same period last year[119]. - Cash flows from investing activities showed a positive shift with $48.8 million provided, compared to cash used of $9.1 million in the prior year, primarily due to $61.0 million in proceeds from short-term investments[121]. - Financing activities resulted in cash used of $10.4 million for the three months ended September 2025, up from $3.5 million in the same period last year, mainly due to $7.2 million in common stock repurchases[122]. - The company had $350.0 million available under its revolving credit facility with no outstanding balance as of September 2025[123]. Operational Efficiency - Days sales outstanding improved to 37 days in September 2025 from 47 days in September 2024, indicating better collection efficiency[120]. - The company reported a decrease of $31.6 million in accrued liabilities primarily related to annual bonus payments during the three months ended September 2025[119]. Future Outlook - The company continues to monitor global macroeconomic factors and trade policies that may impact its operations and financial performance[100]. - The effective tax rate and cash flows were not materially impacted by the Pillar Two Model Rules or the OBBBA legislation for the first three months of fiscal 2026[114][115]. - The company believes existing cash, anticipated cash flows, and available credit will be sufficient to meet working capital and cash requirements for at least the next 12 months[125]. Commitments - Unconditional purchase commitments totaled $41.1 million as of September 2025, with $27.2 million due for the remainder of fiscal 2026[124].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 OF THE SECURITIES EXCHANGE ACT OF 1934 For the month of November, 2025. Commission File Number: 001-38763 MILLICOM INTERNATIONAL CELLULAR S.A. (Exact Name of Registrant as Specified in Its Charter) 8400 NW 36 Street, Suite 530 Doral, FL 33166 United States (Address of principal executive of ice) Indicate by check mark whether the registrant files or will file an ...

Revenue and Profitability - Total revenues for the three months ended September 30, 2025, increased by 26% to $31,109,000 compared to $24,705,000 for the three months ended August 25, 2024[129]. - HA manufacturing revenues surged by 107% to $9,360,000, driven by increased demand from a customer due to supply chain initiatives[130]. - Gross profit rose by 45% to $7,791,000, with a gross profit margin of 25.0%, up from 21.8% in the prior year[129]. Operating Expenses and R&D - Operating expenses decreased by 36% to $10,858,000, primarily due to a $5,890,000 reduction in selling, general, and administrative expenses[132]. - R&D expenses slightly declined to $1,963,000, reflecting consistent product development activities[133]. Interest and Debt Management - Interest expense increased by 19% to $6,384,000 compared to $5,383,000 in the prior year[135]. - The company had $179.6 million in borrowings outstanding under the Term Loan Credit Facility at an effective annual interest rate of 20.9%[153]. - Interest paid-in-kind under the Term Loan Credit Facility for the three months ended September 30, 2025, was $4.4 million[153]. - The company repaid $2.5 million of borrowings under the Revolving Credit Facility in June 2025[154]. Cash Flow and Liquidity - As of September 30, 2025, the company had cash of $18.9 million and received $10.0 million from early payment of principal under its note receivable[140]. - The company had approximately $23.6 million available for borrowing under the Revolving Credit Facility, with a maximum committed amount of $40.0 million[141]. - Cash flow improved by $1.6 million in the three months ended September 30, 2025, primarily due to a $2.4 million improvement in operating cash flows[142]. - The company expects its existing cash and cash generated from operations to be sufficient to finance its current operational and capital requirements for at least the next twelve months[144]. Strategic Initiatives - The company plans to launch a new ERP system in Q1 2026 to enhance inventory control and financial management[120]. - Lifecore improved workforce productivity by over 20% in the past year through targeted initiatives[120]. - The company has guaranteed contractual minimum purchasing commitments with Alcon through 2031[113]. - A significant prepayment of $5,500,000 from Alcon will be settled starting January 2026 through monthly credit memos[113]. Preferred Stock and Dividends - As of September 30, 2025, there were $0.9 million of dividends in arrears on the Redeemable Convertible Preferred Stock, representing $12.50 per preferred share[147]. - The aggregate liquidation preference of the Redeemable Convertible Preferred Stock was $47.5 million as of September 30, 2025[148]. - The company is considering financing alternatives to fund the Series A liquidation preference, which may include equity financing or debt financing[149].

Financial Performance - Total revenues for Q3 2025 were $8.6 million, a decrease of 32.8% from $12.8 million in Q3 2024[6] - Net loss for Q3 2025 was $19.6 million, or $0.22 per share, compared to a net loss of $20.6 million, or $0.29 per share, in Q3 2024[11] Product and Operational Metrics - Product gross margin improved to 64% in Q3 2025, up from 61% in Q3 2024, due to a shift towards more profitable products[6] - Research and Development expenses increased to $13.9 million in Q3 2025, compared to $11.5 million in Q3 2024, driven by higher headcount and lab supplies[6] Workforce and Management Changes - Codexis eliminated 46 positions, approximately 24% of its workforce, expecting an additional expense of about $3.5 million in Q4 2025[6] - Alison Moore has been appointed as the new CEO, succeeding Stephen Dilly, who will become Chairman of the Board[6] Cash and Investments - As of September 30, 2025, Codexis had $58.7 million in cash, cash equivalents, and short-term investments[11] - Cash and cash equivalents increased from $19,264 million to $25,351 million, an increase of about 31.5%[19] Assets and Liabilities - Total assets decreased from $149,011 million in December 2024 to $123,961 million in September 2025, a decline of approximately 16.8%[19] - Current assets fell from $98,772 million to $76,192 million, representing a decrease of about 22.9%[19] - Total liabilities increased from $82,084 million to $85,417 million, an increase of approximately 4.0%[19] - Long-term debt rose significantly from $28,905 million to $39,729 million, marking an increase of about 37.5%[19] - Stockholders' equity decreased from $66,927 million to $38,544 million, a decline of approximately 42.4%[19] - Total current liabilities decreased from $23,648 million to $18,475 million, a decline of about 21.9%[19] Accounts and Inventories - Accounts receivable decreased from $11,920 million to $6,030 million, a decline of approximately 49.5%[19] - Inventories increased from $1,799 million to $1,936 million, representing an increase of about 7.6%[19] Strategic Agreements and Future Plans - The company signed a $37.8 million Supply Assurance Agreement with Merck, with cash expected to be received by year-end 2025[6] - The company is transitioning to an innovative manufacturing solutions provider in oligonucleotide manufacturing, with a focus on ECO Synthesis technology[2] - Codexis will present at the 2025 TIDES Europe Annual Meeting from November 11-13 in Basel, Switzerland[4] Accumulated Deficit - Accumulated deficit increased from $562,806 million to $616,381 million, a rise of approximately 9.5%[19]