Financial Performance - Q3 2025 revenue was $145.8 million, a decline of 33% compared to $193.4 million in Q3 2024[2] - GAAP net loss per share for Q3 2025 was ($0.62), compared to ($0.21) in Q3 2024[2] - For the nine months ended September 27, 2025, iRobot Corporation reported a net loss of $131.6 million, compared to a net loss of $68.4 million for the same period in 2024, representing an increase in losses of approximately 92.5%[16] - Total revenue for the nine months ended September 27, 2025, was $375.0 million, down 26.3% from $509.8 million in the same period of 2024[18] - GAAP Net Loss for the three months ended September 27, 2025, was $21,526 million, compared to a loss of $6,371 million for the same period in 2024, representing a significant increase in losses[33] - Non-GAAP Net Loss for the three months ended September 27, 2025, was $8,026 million, while it was a profit of $1,046 million in the same period of 2024, indicating a substantial decline in performance[33] Cash and Liquidity - Cash and cash equivalents decreased to $24.8 million as of September 27, 2025, down from $40.6 million as of June 28, 2025[4] - The company has no sources for additional capital as of September 27, 2025[4] - Cash, cash equivalents, and restricted cash at the end of the period were $31.8 million, a significant decrease from $141.9 million at the end of the same period in 2024[16] Operating Expenses - Total operating expenses for Q3 2025 were $62.9 million, an increase from $55.1 million in Q3 2024[2] - The company reported a GAAP operating loss of $17.7 million in Q3 2025, compared to an operating income of $7.3 million in Q3 2024[2] - iRobot's operating expenses for the nine months ended September 27, 2025, were $204.0 million, up from $167.9 million in the same period of 2024, representing an increase of 21.5%[31] Sales and Revenue Breakdown - Revenue from mid-tier and premium robots represented 74% of total robot sales in Q3 2025, down from 79% in the same period last year[5] - Revenue in the U.S. declined by 33%, EMEA by 13%, and Japan by 9% year-over-year[4] - Revenue from the United States for the nine months ended September 27, 2025, was $168.7 million, a decrease of 34.7% compared to $258.4 million in the prior year[18] - The average gross selling price for robot units was $311 for the nine months ended September 27, 2025, compared to $329 in the same period of 2024, indicating a decrease of approximately 5.5%[18] - iRobot shipped a total of 1,481 robot units in the nine months ended September 27, 2025, down 16.0% from 1,762 units in the same period of 2024[18] Inventory and Management - Inventory as of September 27, 2025, totaled $140.9 million, compared to $149.2 million in Q3 2024[4] - GAAP Days in Inventory increased to 128 days for the three months ended September 27, 2025, compared to 104 days in the same period of 2024, suggesting potential inventory management issues[33] - Non-GAAP Days in Inventory also remained at 128 days for the three months ended September 27, 2025, consistent with GAAP figures[33] Profitability Metrics - The company reported a GAAP gross margin of 27.7% for the nine months ended September 27, 2025, compared to 24.7% for the same period in 2024, reflecting an improvement of 3.0 percentage points[31] - Non-GAAP gross profit for the nine months ended September 27, 2025, was $106.3 million, compared to $127.4 million in the same period of 2024, a decrease of 16.6%[31] - Stock-based compensation expenses of $12.9 million for the nine months ended September 27, 2025, compared to $17.9 million in the same period of 2024[31] - Stock-based compensation for the three months ended September 27, 2025, was $3,854 million, down from $5,480 million in the same period of 2024[33] - Non-GAAP Net Loss Income Per Diluted Share for the three months ended September 27, 2025, was $(0.23), compared to $0.03 for the same period in 2024, reflecting a decline in profitability[33] Strategic Investments - The company reported a loss on strategic investments of $1,960 million for the three months ended September 27, 2025, with no losses reported in the same period of 2024[33] Shareholder Metrics - The number of shares used in diluted per share calculation increased to 34,866 million for the three months ended September 27, 2025, from 30,551 million in the same period of 2024[33] - Days Sales Outstanding decreased to 36 days for the three months ended September 27, 2025, compared to 48 days in the same period of 2024, indicating improved collection efficiency[33]

Financial Performance - Total revenue for Q3 2025 decreased by $1.7 million, or 2%, to $78.8 million compared to $80.5 million in Q3 2024[5] - The company reported a net loss of $6.7 million, or a loss of $0.18 per basic share, an improvement from a net loss of $18.1 million, or a loss of $0.29 per basic share in the prior year[7] - Adjusted net income was $19.3 million, or adjusted net earnings of $0.36 per basic share, compared to an adjusted net loss of $0.3 million in the prior year[8] - Adjusted EBITDA for Q3 2025 was $33.5 million, a 9% increase from $30.8 million in Q3 2024[9] - Total revenue for the three months ended September 30, 2025, was $78.824 million, a decrease of 2% compared to $80.530 million in the same period of 2024[24] - Franchise revenue increased to $51.882 million for the three months ended September 30, 2025, up 16% from $44.458 million in 2024[24] - Net loss attributable to Xponential Fitness, Inc. for the three months ended September 30, 2025, was $4.859 million, compared to a net loss of $12.120 million in the same period of 2024[24] - Operating income for the nine months ended September 30, 2025, was $28.068 million, a significant improvement from an operating loss of $1.700 million in 2024[24] - Adjusted EBITDA for the three months ended September 30, 2025, was $33,479 thousand, up from $30,802 thousand in the same period of 2024, indicating an increase of 5.5%[30] - Adjusted net income attributable to Xponential Fitness, Inc. for the three months ended September 30, 2025, was $13,924 thousand, compared to a loss of $219 thousand in the same period of 2024[30] Cash and Debt Position - The company had approximately $41.5 million in cash and cash equivalents and $376.4 million in total long-term debt as of September 30, 2025[10] - Cash, cash equivalents, and restricted cash increased to $41.463 million as of September 30, 2025, from $32.739 million at the end of 2024[26] - Total current assets rose to $99.217 million as of September 30, 2025, compared to $84.147 million at the end of 2024, reflecting a 17.9% increase[22] - Total liabilities decreased to $559.000 million as of September 30, 2025, down from $597.402 million at the end of 2024[22] - The company reported a net cash provided by operating activities of $17.640 million for the nine months ended September 30, 2025, compared to $10.901 million in 2024[26] Studio Openings and Sales Growth - System-wide sales reached $432.2 million in Q3 2025, reflecting a 10% year-over-year increase[6] - Quarterly average unit volume (AUV) was $668,000, up 2% year-over-year, with total members increasing by 7% to 796,000[6] - For full year 2025, the company expects net new studio openings in the range of 170 to 190, a decrease of 37% at the midpoint[11] - North America system-wide sales are projected to be between $1.730 billion and $1.750 billion, representing a 12% increase at the midpoint[11] - System-wide sales growth is driven by new studio openings and increases in same store sales, with approximately 7% and 2% of franchisee sales contributing to royalty and marketing fund revenue, respectively[31] Impairments and Charges - The impairment of goodwill and other noncurrent assets was $32.411 million for the nine months ended September 30, 2025, compared to $16.594 million in 2024[26] - The company reported an impairment of goodwill and other noncurrent assets amounting to $17,568 thousand for the three months ended September 30, 2025, compared to $4,505 thousand in 2024[30] - Restructuring and related charges (excluding impairments) amounted to $2,175 thousand for the three months ended September 30, 2025, down from $9,193 thousand in the same period of 2024[30] Shareholder Information - The weighted average shares of Class A common stock outstanding increased to 35,110 thousand for the three months ended September 30, 2025, from 32,177 thousand in 2024[24] - The weighted average shares of Class A common stock outstanding for the three months ended September 30, 2025, increased to 35,110 thousand from 32,177 thousand in 2024, reflecting a growth of 11.4%[30] - Adjusted net earnings per share - diluted for the three months ended September 30, 2025, was $0.34, compared to a loss of $0.05 in the same period of 2024[30] Revenue Guidance - Revenue guidance for 2025 is set between $300.0 million and $310.0 million, indicating a 5% decrease at the midpoint[11]

| | | Q3 2025 | % Change Q3 | YTD September | % | Change | YTD | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | 2024 | 30, 2025 | September | 30, | 2024 | | Revenue | | $634.5 | (8%) | $1,982.2 | | (12%) | | | Gross profit | | $184.4 | (13%) | $578.9 | | (17%) | | | Net income (loss) | $29.3 | | 319% | ($88.0) | | nm | | | Diluted income (loss) per share | | $0.76 | 322% | ($2.29) | | nm | | | Adjusted diluted EPS* | | $0.39 | (36%) | $1.14 | | (55%) | | | Adjusted EBITDA* | | $57.5 | (22%) | $18 ...

Financial Performance - Net income for Q3 2025 was $51.5 million, or $1.87 per diluted share, compared to $30.5 million, or $1.15 per diluted share, in Q3 2024[2] - Adjusted net income increased 70% to $55.2 million, or $2.01 per diluted share, from $32.4 million, or $1.23 per diluted share, in Q3 2024[4] - Net income for Q3 2025 was $51,455, up 68.7% from $30,497 in Q3 2024[36] - Total underwriting revenue for Q3 2025 increased to $226,595, a 66.2% rise from $136,361 in Q3 2024[36] - The company’s net comprehensive income for the nine months ended September 30, 2025, was $163.658 million, compared to $96.460 million in the same period of 2024, reflecting a 69.7% increase[42] - Adjusted net income for the nine months ended September 30, 2025, was $155,003, representing a 68.1% increase from $92,219 in 2024[37] Premiums and Revenue - Gross written premiums rose 43.9% to $597.2 million compared to $415.0 million in Q3 2024[5] - Gross written premiums for Q3 2025 reached $597,171, a 43.9% increase from $414,977 in Q3 2024[36] - Net written premiums for Q3 2025 were $275,244, reflecting a 72.3% growth compared to $159,710 in Q3 2024[36] - For the nine months ended September 30, 2025, gross written premiums totaled $1,535,623, a 31.4% increase from $1,168,239 in the same period of 2024[37] - The company reported total revenues of $244.660 million for Q3 2025, a 64.6% increase from $148.503 million in Q3 2024[42] Ratios and Returns - The total loss ratio for Q3 2025 was 32.3%, up from 29.7% in Q3 2024, with a catastrophe loss ratio of 0.8% compared to 9.5% in the prior year[9] - The combined ratio improved to 78.1% from 80.5% in Q3 2024, while the adjusted combined ratio was 74.8% compared to 77.1% in the same period last year[7] - Annualized return on equity was 23.9%, up from 19.7% in Q3 2024, with an annualized adjusted return on equity of 25.6% compared to 21.0% in the prior year[12] - Annualized adjusted return on equity for Q3 2025 was 25.6%, compared to 21.0% in Q3 2024[48] - Adjusted combined ratio for the nine months ended September 30, 2025, is 78.1%, compared to 80.5% for the same period in 2024[49] Investments and Assets - Net investment income increased by 54.9% to $14.6 million from $9.4 million in Q3 2024, driven by higher yields on invested assets[8] - Total assets as of September 30, 2025, were $2,943,546, an increase from $2,262,220 as of December 31, 2024[39] - Stockholders' equity increased to $878.1 million at September 30, 2025, from $703.3 million at the same date in 2024[12] - Tangible stockholders' equity as of September 30, 2025, is $815,572,000, an increase from $715,788,000 as of December 31, 2024[50] Expenses and Losses - The company’s total expenses for Q3 2025 were $177.521 million, compared to $110.000 million in Q3 2024, an increase of 61.0%[42] - Total losses and loss adjustment expenses for Q3 2025 were $72,812,000, an increase of 80.6% from $40,315,000 in Q3 2024[45] - Catastrophe losses decreased significantly by 85.3% to $1,900,000 in Q3 2025 from $12,924,000 in Q3 2024[45] - The company incurred catastrophe losses of $1,900,000 for the three months ended September 30, 2025, down from $12,924,000 in 2024[50] Acquisitions - The company announced the acquisition of The Gray Casualty and Surety Company during the quarter, aiming to drive long-term profitable growth[4]

Financial Performance - The company reported a net loss of $37.0 million, or $0.32 per share, in Q3 2025, compared to a net income of $71.8 million, or $0.62 per share, in Q3 2024[75]. - For the first nine months of 2025, the company reported a net loss of $28.1 million, or $0.24 per share, compared to a net income of $99.4 million, or $0.86 per share, in the same period of 2024[75]. - Segment profit decreased by $58.7 million to a segment loss of $15.3 million in Q3 2025, compared to a profit of $43.4 million in Q3 2024, with currency exchange rates increasing the segment loss by approximately $4 million[98]. - Segment profit decreased by $70.7 million to $37.2 million in the first nine months of 2025 compared to $107.9 million in the same period of 2024[111]. - Income from operations rose by $5 million, but customer demand remained weak, with expectations of no meaningful improvement in sales volumes in the near term[125]. Sales and Pricing - Average TiO2 selling prices declined by 6% during the first nine months of 2025, and were 2% lower than the average prices in the first nine months of 2024[82]. - Sales volumes decreased by 3% in Q3 2025 compared to Q3 2024, primarily due to lower sales in European and export markets[93]. - Net sales for the first nine months of 2025 decreased by 2%, or $22.9 million, primarily due to a 2% decrease in average TiO2 selling prices[104]. - Net sales increased by $11 million due to a weakening of the U.S. dollar relative to the euro, translating euro-denominated sales into more U.S. dollars in 2025 compared to 2024[124]. Costs and Expenses - Cost of sales increased by $26.4 million, or 7%, in Q3 2025 compared to Q3 2024, primarily due to unfavorable fixed cost absorption and higher inventory costs[94]. - Cost of sales increased by $33.4 million, or 3%, in the first nine months of 2025, with cost of sales as a percentage of net sales rising to 85% from 81% in the same period of 2024[106][107]. - Gross margin as a percentage of net sales decreased to 10% in Q3 2025 from 21% in Q3 2024, driven by lower average TiO2 selling prices and reduced production volumes[96]. - Gross margin as a percentage of net sales decreased to 15% in the first nine months of 2025 from 19% in the same period of 2024[108]. - Selling, general and administrative expense in Q3 2025 was $2.2 million lower than in Q3 2024, remaining consistent at 13% of net sales for both periods[97]. - Selling, general and administrative expense increased by $10.9 million, or 6%, in the first nine months of 2025, with the expense as a percentage of net sales rising to 13%[110]. Liquidity and Debt - As of September 30, 2025, the company had total cash, cash equivalents, and restricted cash of $36.4 million, with $34.6 million held by non-U.S. subsidiaries[152]. - The company expects to have sufficient liquidity to meet short-term obligations for the twelve-month period ending September 30, 2026, and long-term obligations for the five-year period ending September 30, 2030[152]. - The Global Revolver has total borrowing availability of approximately $342 million as of September 30, 2025, with maturity in July 2029[152]. - Outstanding debt obligations included €426.174 million on 9.50% Senior Secured Notes due March 2029, with a carrying amount of $502.3 million[146]. - The company is in compliance with all debt covenants as of September 30, 2025, and expects to maintain compliance unless future operating results differ materially from expectations[147]. Operational Efficiency - The company operated its production facilities at 85% practical capacity utilization in the first nine months of 2025, down from 93% in the same period of 2024[83]. - Capital expenditures were $32.7 million in the first nine months of 2025, up from $17.2 million in the same period of 2024, aimed at improving manufacturing cost-effectiveness[141]. - The company plans to invest approximately $45 million in capital expenditures for 2025, with $32.7 million spent through September 30, 2025[153]. - The company is implementing targeted workforce reductions to improve long-term cost structure and capitalize on market share opportunities[127]. Market Outlook - The company anticipates long-term demand growth for TiO2 of 2% to 3% per year, consistent with GDP growth expectations[73]. - The company expects fourth quarter operating results to be lower than the third quarter due to weaker demand and continued pricing pressure[128]. - The TiO2 industry is cyclical, and changes in pricing, production volumes, and customer demand significantly impact the company's earnings and operating cash flows[150]. - The company routinely evaluates liquidity requirements and may seek to refinance or restructure indebtedness, raise additional capital, or engage in acquisitions in the TiO2 industry[151]. - The company may delay planned capital projects based on market conditions, including expected demand and availability of necessary materials[153]. Taxation - Income tax expense decreased to $7.9 million in Q3 2025 from $22.7 million in Q3 2024, primarily due to lower earnings[100]. - Income tax expense for the first nine months of 2025 was $19.0 million, down from $34.7 million in the same period of 2024, reflecting lower earnings and jurisdictional mix[113]. Interest and Other Income - Interest expense in Q3 2025 increased by $2.3 million due to higher average debt balances and interest rates, while an unrealized loss of $0.1 million was recognized compared to a gain of $2.2 million in Q3 2024[99].

Revenue and Financial Performance - For the three months ended September 30, 2025, CarGurus generated revenue of $238.7 million, a 3% increase from $231.4 million for the same period in 2024[151]. - For the nine months ended September 30, 2025, revenue reached $697.9 million, reflecting a 5% increase from $665.8 million in the same period of 2024[152]. - Marketplace revenue for the three months ended September 30, 2025, was $231.7 million, representing a 14% increase from $204.0 million in the prior year[216]. - Marketplace revenue increased by $27.6 million, or 14%, for the three months ended September 30, 2025, representing 97% of total revenue[217]. - Total revenue increased by $32.0 million, or 5%, to $697.89 million for the nine months ended September 30, 2025, compared to $665.85 million for the same period in 2024[237]. - Marketplace revenue grew by $79.5 million, or 14%, to $665.89 million for the nine months ended September 30, 2025, representing 95% of total revenue[238]. User Engagement and Dealer Metrics - The average monthly unique users for the U.S. market increased to 38,249 thousand in September 2025, up from 32,279 thousand in September 2024[163]. - The total number of paying dealers as of September 30, 2025, was 33,673, an increase from 31,684 in September 2024[169]. - The average monthly sessions in the U.S. increased to 89,032 thousand in September 2025, compared to 80,370 thousand in September 2024[167]. Profitability and Expenses - Adjusted EBITDA for the three months ended September 30, 2025, was $78.7 million, up from $64.9 million for the same period in 2024[151]. - Net income for Q3 2025 was $44,717,000 compared to $22,511,000 in Q3 2024, representing a 98.1% increase[177]. - For the nine months ended September 30, 2025, Adjusted EBITDA reached $222,258,000, a 30.1% increase from $170,836,000 in the same period of 2024[177]. - Operating expenses for the three months ended September 30, 2025, totaled $158.9 million, slightly increasing from $155.1 million in the prior year[213]. - Sales and marketing expense increased by $8.2 million, or 10%, for the three months ended September 30, 2025, representing 37% of total revenue[228]. - General and administrative expenses are expected to rise as the company scales its business, partially offset by a decrease after the wind-down of CarOffer[203]. CarOffer Wind-Down - CarGurus expects wholesale revenue to decrease and cease by the end of 2025 due to the wind-down of CarOffer[150]. - The estimated total expenditures associated with the wind-down of CarOffer are projected to be between $13.0 million and $15.0 million[155]. - The company is winding down CarOffer, expecting total expenditures for the wind-down to be between $13.0 million and $15.0 million[267]. - As of September 30, 2025, remaining cash expenditures related to the wind-down of CarOffer are expected to be between $7.0 million and $9.0 million[267]. Impairment and Losses - Digital Wholesale segment recognized impairment charges of $29.6 million for the nine months ended September 30, 2025, as impairment operating expense[204]. - The Digital Wholesale segment reported an operating loss of $9.4 million for the three months ended September 30, 2025, compared to a loss of $25.3 million in the same period of 2024[214]. - The company recognized impairment losses of $15.8 million related to the CG Buy Online pilot during the three months ended September 30, 2024[207]. - Impairment expense decreased by $7.0 million, or 100%, for the three months ended September 30, 2025, compared to the prior year[231]. - Impairment expense decreased by $104.9 million, or 78%, to $29.6 million, representing 4% of total revenue for the nine months ended September 30, 2025[252]. Cash Flow and Share Repurchase - Cash and cash equivalents decreased to $178.8 million as of September 30, 2025, from $304.2 million as of December 31, 2024[260]. - Net cash provided by operating activities increased to $212.2 million for the nine months ended September 30, 2025, compared to $179.8 million for the same period in 2024[261]. - The Board of Directors authorized a share repurchase program with a total authorization of up to $350.0 million, extended to July 31, 2026[265]. - During the three months ended September 30, 2025, the company repurchased 3,233,649 shares for $110.7 million at an average cost of $34.23 per share[265]. - For the nine months ended September 30, 2025, the company repurchased 9,164,088 shares for $295.2 million at an average cost of $32.22 per share[265]. Tax and Regulatory Changes - The One Big Beautiful Bill Act (OBBBA) enacted on July 4, 2025, includes provisions for immediate expensing of domestic research costs, which will impact future tax provisions[212]. - Provision for income taxes increased by $4.3 million, or 57%, to $11.85 million for the three months ended September 30, 2025, compared to $7.55 million for the same period in 2024, primarily due to increased profitability[234]. - Provision for income taxes changed by $32.2 million, resulting in a benefit of $5.8 million for the nine months ended September 30, 2025[256]. Market Conditions and Risks - As of September 30, 2025 and 2024, inflation has not materially affected the company's business or financial condition[297]. - The company may struggle to offset significant inflationary pressures through price increases, which could harm its operating results[297]. - Foreign currency exposures include the British pound, Euro, and Canadian dollar, but fluctuations have not materially impacted the company's financial condition[298]. - Future fluctuations in exchange rates may have a material impact on the company's business and financial results[298]. - The company has not utilized financial instruments to manage foreign currency exchange risk exposure[298]. - The company will continue to reassess its approach to managing foreign currency exchange risks as circumstances change[298].

Exhibit 99.1 BARINGS BDC, INC. REPORTS THIRD QUARTER 2025 RESULTS CHARLOTTE, N.C., November 6, 2025 - Barings BDC, Inc. (NYSE: BBDC) ("Barings BDC" or the "Company") today reported its financial and operating results for the third quarter of 2025. Highlights | | Three Months Ended | | Three Months Ended | | | --- | --- | --- | --- | --- | | Income Statement | September 30, 2025 | | June 30, 2025 | | | (dollars in millions, except per share data) | Total Amount | Per (1) Share | Total Amount | Per (2) Share ...

Financial Performance - The company reported a net loss of approximately $3.9 million for Q3 2025, compared to a net loss of approximately $2.3 million for the same period in 2024, reflecting an increase in R&D expenditures[11][16] - As of September 30, 2025, Quoin had approximately $5.4 million in cash, cash equivalents, and marketable securities, which, along with the recent funding, is expected to support operations into 2027[10][11] - Quoin's total operating expenses for Q3 2025 were approximately $4.0 million, compared to $2.5 million in Q3 2024[16] Research and Development - QRX003, the lead clinical asset, is set to commence pivotal studies for Netherton Syndrome in Q4 2025[1][4] - Research and development expenses for the nine months ended September 30, 2025, totaled approximately $6.7 million, up from $2.6 million in the same period in 2024[11][16] - The company received orphan drug designation from the FDA for QRX003, aimed at treating Netherton Syndrome[1][3] Funding and Financial Strategy - Quoin Pharmaceuticals closed a private placement financing of up to $105.3 million in October 2025, with initial funding of $16.6 million[1][4] - The company plans to utilize proceeds from the private placement for R&D, working capital, and potential future acquisitions[3][4] Marketing and Awareness - The NETHERTON NOW awareness campaign achieved over 1.5 million views within six months of its launch, significantly exceeding initial expectations[1][3] Leadership Changes - The appointment of Sally Lawlor as CFO is expected to strengthen the leadership team as the company prepares for commercialization[1][3]

Revenue Performance - First Advantage generated revenues of $409.2 million for the three months ended September 30, 2025, compared to $199.1 million for the same period in 2024, representing a 105.5% increase[116] - For the nine months ended September 30, 2025, revenues reached $1,154.4 million, up from $553.1 million in the same period of 2024, marking a 108.5% increase[116] - Revenues for Q3 2025 were $409.2 million, a 105.5% increase from $199.1 million in Q3 2024[134] - Revenues for the first nine months of 2025 reached $1,154.4 million, up 108.7% from $553.1 million in the same period of 2024[135] - Total revenues for the three months ended September 30, 2025, reached $409.2 million, up 105.7% from $199.1 million in 2024[176] - Total revenues for the nine months ended September 30, 2025, were $1.15 billion, up 108.5% from $553.1 million in 2024[176] Cost and Expenses - Cost of services for Q3 2025 was $222.0 million, a 120.1% increase from $100.9 million in Q3 2024[137] - Cost of services for the first nine months of 2025 totaled $622.4 million, a 122.0% increase from $280.4 million in the same period of 2024[140] - Cost of services as a percentage of revenue was 54.3% in Q3 2025, compared to 50.7% in Q3 2024[139] - Product and technology expense for Q3 2025 was $25.1 million, a 94.7% increase from $12.9 million in Q3 2024[142] - Selling, general, and administrative expenses for the three months ended September 30, 2025, were $57.5 million, an increase of $11.4 million or 24.8% compared to the same period in 2024[145] - For the nine months ended September 30, 2025, selling, general, and administrative expenses increased by $55.2 million or 44.0%, totaling $180.5 million compared to $125.4 million in 2024[147] - Depreciation and amortization for the three months ended September 30, 2025, was $62.3 million, an increase of $32.1 million or 106.4% compared to $30.2 million in 2024[149] - Interest expense, net for the three months ended September 30, 2025, was $40.0 million, an increase of $22.9 million or 132.9% compared to $17.2 million in 2024[153] Net Income and Adjusted Metrics - Net income for the three months ended September 30, 2025, was $2.6 million, an increase of $11.5 million compared to a net loss of $(8.9) million in 2024[162] - Adjusted EBITDA for the three months ended September 30, 2025, was $118.5 million, representing an Adjusted EBITDA Margin of 29.0%, compared to $64.0 million and 32.2% in 2024[169] - For the nine months ended September 30, 2025, Adjusted EBITDA was $324.6 million, with an Adjusted EBITDA Margin of 28.1%, compared to $166.4 million and 30.1% in 2024[170] - Net loss for the nine months ended September 30, 2025, was $(38.3) million, an increase of $(28.4) million compared to $(9.9) million in 2024[164] - Adjusted Net Income for the three months ended September 30, 2025, was $52.3 million, a 37.7% increase from $38.0 million in the same period of 2024[181] - Adjusted Net Income for the nine months ended September 30, 2025, was $129.8 million, a 38.7% increase from $93.5 million in 2024[183] - Adjusted Diluted Earnings Per Share for the three months ended September 30, 2025, was $0.30, compared to $0.26 for the same period in 2024[182] Acquisition and Integration - The acquisition of Sterling Check Corp. on October 31, 2024, enhances First Advantage's capabilities and expands service offerings in background and identity verification[111] - The company recognized $199.4 million in revenues from Sterling, contributing 100.1% to Q3 2025 revenues due to the acquisition completed on October 31, 2024[136] - Sterling personnel expenses recognized after the Sterling Acquisition amounted to $19.8 million, with approximately $1.2 million related to cash compensation due to the conversion of Sterling equity awards[144] - The Sterling Acquisition contributed approximately $1.4 million and $7.5 million in transaction-related expenses for the three and nine months ended September 30, 2025, respectively[173] - Integration and restructuring charges related to the Sterling Acquisition amounted to approximately $3.8 million for the three months ended September 30, 2025[174] - Integration and restructuring charges related to the Sterling Acquisition were approximately $3.8 million and $15.4 million for the three and nine months ended September 30, 2025, respectively[192] Cash Flow and Debt - As of September 30, 2025, the company had $216.8 million in cash and cash equivalents and $250.0 million available under its revolving credit facility[195] - Total debt outstanding as of September 30, 2025, was $2,139.5 million[195] - Net cash provided by operating activities for the nine months ended September 30, 2025, was $129.2 million, an increase of $15.3 million compared to $113.9 million for the same period in 2024[203] - Net cash used in investing activities increased to $37.3 million for the nine months ended September 30, 2025, compared to $21.7 million for the same period in 2024[204] - Net cash used in financing activities was $(45.0) million for the nine months ended September 30, 2025, primarily due to a $45.5 million increase in principal repayments on the term loan[205] Tax and Regulatory Changes - The enactment of the One Big Beautiful Bill Act (OBBBA) introduces significant changes to the U.S. corporate tax regime, which may impact future taxable income and the effective tax rate[122] - The effective tax rates for the three and nine months ended September 30, 2025, were approximately 25.1% and 25.3%, respectively[193] Market Conditions and Customer Base - Approximately 86% of revenues for the nine months ended September 30, 2025, were generated in the United States, with the remaining 14% from international markets[116] - Current macroeconomic conditions, including elevated interest rates and inflation, are impacting customer demand and hiring activity, which may affect revenue growth[120] - The company anticipates that evolving consumer trends and labor market dynamics may influence future seasonality in hiring and demand for services[117] - First Advantage's diversified customer base and focus on innovative solutions contribute to the stability of its business and long-term financial performance[124] - The company has 80,000 customers globally, including multinational and mid-sized companies, utilizing its comprehensive suite of HR technology solutions[112] Special Dividends - The company declared a one-time special cash dividend of $1.50 per share on August 8, 2023, paid on August 31, 2023[196]

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-39610 ___________________________ Eastern Bankshares, Inc. (Exact name of the registrant as specified in its charter) ___________________________ 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 SECUR ...