UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 For the transition period from ____ to ____ Commission File Number: 001-39503 FORM 10-Q Athira Pharma, Inc. ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Exact name of registrant as specified in its charter) For the quarterly period ended September 30, 2025 Delaware 45-3368487 OR (State or other jurisdiction of incorporation or organization) ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) O ...

Exhibit 99.1 Motorsport Games Reports Third Quarter 2025 Financial Results MIRAMAR, Florida –November 6, 2025 — Motorsport Games Inc. (NASDAQ: MSGM) ("Motorsport Games" or "the Company") today reported financial results for its third quarter ended September 30, 2025. The Company has also posted the third quarter 2025 earnings slides highlighting key milestones that occurred during the period, which are accessible on the Company's investor relations website. "We are very pleased to once again generate net in ...

Financing and Debt - The Borrower has raised not less than $30,000,000 from unsecured convertible debt securities, preferred equity interests, and/or common equity interests as part of the Amendment No. 5 Equity Contribution[6] - The Borrower has entered into a credit agreement with Wells Fargo Bank, N.A. as the administrative agent, with amendments made on February 14, 2023, June 30, 2023, February 15, 2024, January 15, 2025, and November 4, 2025[43] - The agreement includes a sustainability investment-linked revolving credit facility, indicating a focus on sustainable financing[44] - The credit facility is structured to support the Borrower's growth and expansion strategies, particularly in sustainability initiatives[44] - The Borrower has committed to using proceeds from the credit facility for specific purposes, including potential acquisitions and operational enhancements[36] - The Borrower is subject to Bail-In Legislation, which may affect its financial obligations[117] - The Borrower must comply with the Bankruptcy Code, which governs its financial restructuring processes[118] - The minimum borrowing amount for Term Benchmark Loans and ABR Loans is set at $1,000,000[137] - The borrowing multiple for Term Benchmark Loans is $500,000, while for ABR Loans it is $250,000[138] Credit Agreement and Amendments - The Amendment No. 5 was executed on November 4, 2025, amending the Existing Credit Agreement originally dated August 29, 2022[32] - The Existing Credit Agreement remains in full force and effect, ratified and confirmed by the parties[13] - The Borrower has executed the Amendment, constituting a legal, valid, and binding obligation enforceable against the Borrower[7] - The Borrower has paid all fees and expenses required on the Amendment No. 5 Effective Date pursuant to the Engagement Letter dated October 17, 2025[6] - The Borrower has confirmed that all representations and warranties in the Amended Credit Agreement are true and correct in all material respects as of the Amendment No. 5 Effective Date[8] - The Amendment No. 5 Arranger is entitled to all rights, privileges, and immunities applicable to the "Arranger" under the Loan Documents[18] Financial Performance - Adjusted Consolidated EBITDA for the fiscal quarter ended September 30, 2021, was $11,462,000[60] - Adjusted Consolidated EBITDA for the fiscal quarter ended December 31, 2021, was $11,544,000[60] - Adjusted Consolidated EBITDA for the fiscal quarter ended March 31, 2022, was $10,420,000[60] - Adjusted Consolidated EBITDA for the fiscal quarter ended June 30, 2022, was $12,471,000[60] - The Borrower reported a cumulative Consolidated Net Income of 50% since the fiscal quarter of the Closing Date[112] Compliance and Covenants - The agreement outlines various financial covenants and conditions of lending, ensuring compliance and risk management[36] - The Borrower is required to maintain certain financial ratios and provide regular compliance certificates to the lenders[36] - The Borrower is expected to provide regular updates on financial performance and strategic initiatives to the lenders[36] - The Borrower must provide a certificate from a Responsible Officer to terminate the Covenant Relief Period, demonstrating compliance with financial covenants[186] - The Secured Net Leverage Ratio must be less than 4.00 to 1.00 for the Borrower to terminate the Covenant Relief Period[186] - The Covenant Relief Period is set to end on October 1, 2026, unless terminated earlier by the Borrower[185] Collateral and Security Interests - The Collateral Agreement is to be executed on the Closing Date and may be amended or modified over time[161] - The Collateral and Guarantee Requirement includes the pledge of all outstanding Equity Interests directly owned by the Loan Parties[162] - The Borrower and its subsidiaries have made commercially reasonable efforts to perfect security interests in collateral, with a 90-day period post-closing for any collateral that could not be perfected on the closing date[165] - The provision and perfection of security interests in collateral are not conditions precedent to any Credit Event on the Closing Date[165] - The Borrower is required to deliver additional security documents as needed after the Closing Date[164] - The Collateral Agent requires evidence of insurance as per the terms outlined in Section 5.02[164] Legal and Regulatory Considerations - The Borrower is subject to Debtor Relief Laws, which affect the rights of creditors generally[192] - The Borrower has established a Benchmark Replacement mechanism to adapt to changes in interest rate benchmarks[120] - The Borrower has defined a Benchmark Transition Event that may trigger changes in its financial agreements[127] - The Borrower has a Beneficial Ownership Certification requirement as part of its compliance obligations[131] Other Financial Provisions - The definition of "Change of Control" includes the acquisition of 40% or more of the voting power of Holdings by any person or group[149] - The term "Capitalized Lease Obligations" refers to liabilities that must be capitalized on the balance sheet in accordance with GAAP[140] - The term "Cash Management Agreement" encompasses various treasury management services provided to the Borrower or its Subsidiaries[144] - Consolidated Debt includes all indebtedness for borrowed money and guarantees, determined on a consolidated basis[170] - Consolidated Net Income excludes extraordinary gains or losses, transaction costs, and any income from investments accounted for using the equity method[173] - Consolidated Total Assets are determined on a consolidated basis in accordance with GAAP, excluding amounts from Unrestricted Subsidiaries[180] - Consolidated Total Net Debt is calculated as Consolidated Debt minus the Unrestricted Cash Amount[181] - The Cumulative Qualified Equity Proceeds Amount includes 100% of net proceeds from the sale of Qualified Equity Interests received after the Closing Date[188] - The definition of "Default" includes any event that would constitute an Event of Default upon notice or lapse of time[193] - The term "Disqualified Lender" includes any person identified as a competitor of the Borrower or its Subsidiaries[200] - The term "Cure Amount" is defined in Section 7.02(a) and relates to the Borrower's obligations[190] - The Borrower may engage in Customary Bridge Financings, provided the long-term debt has a final maturity date no earlier than the Latest Maturity Date[190] Project Updates - The Borrower has completed the "water flow" project at its extraction, bottling, and canning facility in Conway, Arkansas, restoring operations to pre-project levels[6]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Mark One) 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: 001-40315 ONKURE THERAPEUTICS, INC. (Exact name of registrant as specified in its charter) Delaware 47-2309515 (State or other ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Mark One) 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: 001-40315 ONKURE THERAPEUTICS, INC. (Exact name of registrant as specified in its charter) Delaware 47-2309515 (State or other ...

Real Estate Investments - As of September 30, 2025, National Health Investors, Inc. had a gross carrying value of $2.5 billion in real estate properties leased to 30 tenants, including 118 senior housing properties and 68 skilled nursing facilities[181]. - The Real Estate Investments segment includes 188 properties across 32 states, with an additional $224.6 million in mortgage and other notes receivable[181]. - Revenues in the Real Estate Investments segment primarily come from triple-net leases and interest income from financing arrangements for construction and acquisition projects[180]. - As of September 30, 2025, the total net operating income (NOI) for the real estate investments portfolio was $192,903,000, representing 86.2% of total NOI[188]. - The total number of properties in the real estate investments portfolio was 174, with a carrying amount of $2,549,823,000[188]. - The occupancy rate for the Real Estate Investments Portfolio in Q2 2025 was 85.2%, an increase from 83.9% in Q2 2024[224]. - NOI from Real Estate Investments segment for Q3 2025 was $66,022, nearly flat compared to $66,275 in Q3 2024[285]. SHOP Segment - The SHOP segment consists of 17 independent living facilities, four senior living campuses, and one assisted living facility, totaling 2,670 residential units with a gross carrying value of $551.8 million[186]. - The SHOP segment had a total of 22 properties, contributing $11,831,000 to the total NOI, which is 5.3% of the overall NOI[188]. - The average effective annualized NOI for the SHOP segment was $8,846 per unit as of September 30, 2025[190]. - The company experienced a transition of six senior housing properties into the SHOP segment, with a net carrying value of $125.3 million as of September 30, 2025[198]. - NOI from SHOP segment for Q3 2025 increased to $4,924, up 62.9% from $3,027 in Q3 2024[285]. Financial Performance - The company’s total NOI for the nine months ended September 30, 2025, was $223,777,000, an increase from $209,294,000 in the same period of 2024[189]. - Total revenues for Q3 2025 were $89.847 million, an increase of 8.3% from $82.944 million in Q3 2024[231]. - Net income attributable to common stockholders rose by 15.1% to $32.812 million in Q3 2025 compared to $28.511 million in Q3 2024[231]. - Total cash rental income increased by 18.5% to $71.237 million in Q3 2025 from $60.094 million in Q3 2024[231]. - Net income attributable to common stockholders increased by $9.2 million, or 9.7%, to $103.9 million for the nine months ended September 30, 2025[234]. - Funds From Operations (FFO) per diluted share increased by $0.11, or 3.2%, for the nine months ended September 30, 2025, compared to the same period in 2024[276]. - Normalized FFO per diluted share increased by $0.36, or 10.7%, for the nine months ended September 30, 2025, over the same period in 2024[277]. - Adjusted EBITDA for Q3 2025 was $75,378,000, compared to $64,364,000 in Q3 2024, indicating a 17.56% increase[283]. Debt and Liquidity - The company relies on external capital sources for funding future investments, which may impact growth if capital is not readily available[178]. - The company is exposed to interest rate risk as a portion of its debt bears interest at variable rates, while revenues are derived mainly from fixed-rate investments[178]. - Outstanding indebtedness as of September 30, 2025, was $1.1 billion[243]. - The company has a $700.0 million unsecured revolving credit facility maturing in October 2028, with an effective interest rate decrease of 0.10% following an amendment on October 31, 2025[244]. - The company repaid $75.0 million on its unsecured bank term loan in September 2025, extending its maturity to June 2026[246]. - The company has identified potential areas of concern regarding operators' liquidity to meet obligations, emphasizing the importance of balance sheet analysis[223]. - The company expects to meet short-term liquidity needs primarily through cash generated from operations and borrowings under its Credit Facility[270]. Regulatory and Operational Risks - The company’s investments are concentrated in healthcare properties, which may increase exposure to regulatory and operational risks[173]. - The company faces risks related to governmental regulations, particularly concerning Medicare and Medicaid reimbursement rates, which could impact tenant operations[173]. - The company’s financial condition may be adversely affected by the operating success of its tenants, managers, and borrowers, particularly in the context of potential bankruptcies[173]. Shareholder Returns - The company declared a quarterly dividend of $0.92 per common share on November 5, 2025, payable on January 30, 2026[261]. - The company maintains an ATM equity program allowing for the sale of up to $500.0 million of common stock directly into the market[264]. - In June 2025, the company entered into ATM forward sales agreements, selling 1.3 million shares at a weighted average price of $71.41, totaling $91.8 million[267]. - The company intends to comply with REIT dividend requirements, distributing at least 90% of annual taxable income for the year ended December 31, 2025[260].

Financial Performance - Q3'25 Marketplace revenue increased by 14% year-over-year to $232 million, exceeding the midpoint of guidance[1] - GAAP Marketplace operating income reached $64.1 million, while Non-GAAP Adjusted EBITDA was $82.4 million, up 18% year-over-year[1] - Total revenue for Q3'25 was $238.7 million, a 3% increase compared to the prior year, with gross profit margin at 89%[4] - The U.S. Marketplace Segment revenue for Q3'25 was $210.4 million, reflecting a 12% increase year-over-year[8] - Digital Wholesale Segment revenue declined by 74% to $7.0 million in Q3'25[8] - U.S. Marketplace revenue was $210.4 million, up 12.3% from $187.3 million in the same quarter last year[29] - Gross profit for Q3 2025 was $213.5 million, compared to $182.6 million in Q3 2024, reflecting a 16.9% increase[27] - Net income for Q3 2025 was $44,717,000, a 98.5% increase from $22,511,000 in Q3 2024[32] - Non-GAAP net income for Q3 2025 reached $56,448,000, compared to $46,232,000 in Q3 2024, reflecting a 22.5% year-over-year growth[33] - GAAP net income margin improved to 19% in Q3 2025 from 10% in Q3 2024[35] - Non-GAAP adjusted EBITDA for Q3 2025 was $78,666,000, up from $64,882,000 in Q3 2024, indicating a 21.1% increase[35] - Marketplace (U.S. Marketplace Segment and Other) operating income for Q3 2025 was $64,115,000, a 21.6% increase from $52,751,000 in Q3 2024[36] - Non-GAAP Marketplace adjusted EBITDA for Q3 2025 was $82,447,000, compared to $70,126,000 in Q3 2024, representing a 17.5% growth[36] Guidance and Projections - Fourth quarter 2025 guidance for Marketplace revenue is projected between $236 million and $241 million[11] - Full-year 2025 guidance for Marketplace revenue is estimated to be between $902 million and $907 million[11] - Non-GAAP earnings per share for full-year 2025 is expected to range from $2.19 to $2.25[11] Dealer Metrics - The number of U.S. paying dealers grew by 5% to 25,743, while international paying dealers increased by 11% to 7,930[8] - The number of paying dealers is crucial as it reflects the value proposition of marketplace products and the success in sales and marketing[49] - Quarterly Average Revenue per Subscribing Dealer (QARSD) is calculated based on marketplace revenue from subscriptions divided by the average number of paying dealers, indicating product value and ROI[50] Cash Flow and Expenses - Cash provided by operating activities for the nine months ended September 30, 2025, was $212,163,000, an increase from $179,757,000 in the same period of 2024[32] - Total cash, cash equivalents, and restricted cash at the end of Q3 2025 was $178,855,000, down from $250,741,000 at the end of Q3 2024[32] - Operating expenses for Q3 2025 totaled $158.9 million, slightly up from $155.1 million in Q3 2024[27] - Stock-based compensation expense for Q3 2025 was $12,627,000, compared to $15,455,000 in Q3 2024, showing a decrease of 18.3%[33] - The company reported a net cash used in investing activities of $7,156,000 for Q3 2025, a decrease from $14,895,000 in Q3 2024[32] - Total operating expenses for Q3 2025 were $158.9 million, down from $184.0 million in Q3 2024, leading to a non-GAAP operating expense of $141.9 million[38] - Non-GAAP free cash flow for Q3 2025 was $64.0 million, significantly higher than $41.3 million in Q3 2024[40] Assets and Liabilities - Total assets decreased to $660.5 million as of September 30, 2025, down from $824.5 million at the end of 2024[26] - Current liabilities increased to $93.9 million as of September 30, 2025, compared to $93.1 million at the end of 2024[26] Strategic Initiatives - The company is winding down its CarOffer business, which may impact future operations and relationships with dealers[24] - The company aims to innovate and realize benefits from acquisitions while navigating competitive and rapidly changing market conditions[24] Non-GAAP Financial Measures - Non-GAAP net income metrics are utilized for evaluating operating results, excluding certain expenses such as stock-based compensation and impairments[44] - The company emphasizes the importance of non-GAAP financial measures for operational decision-making and transparency[41] - Company presented non-GAAP Adjusted EBITDA and non-GAAP Adjusted EBITDA margin as key measures for evaluating operating performance and making strategic decisions[46] - Non-GAAP Marketplace Adjusted EBITDA is defined as GAAP Marketplace operating income adjusted for depreciation, stock-based compensation, and transaction-related expenses[47] - Free Cash Flow is defined as cash flow from operations after expenditures for property, equipment, and website development costs, indicating financial performance[48]

Revenue and Income - Revenue for Q3 2025 was $67.9 million, a 5% increase from $64.5 million in Q3 2024[5] - Net income for Q3 2025 rose 26% to $34.5 million compared to $27.3 million in Q3 2024[8] - Year-to-date revenue for the first nine months of 2025 reached $114.3 million, a 38% increase from $83.0 million in the same period of 2024[10] - Revenues for Q3 2025 reached $67,886 million, a 5.3% increase from $64,507 million in Q3 2024[22] - Net income for Q3 2025 was $34,519 million, up from $27,346 million in Q3 2024, marking a 26.5% increase[22] - Operating income for the nine months ended September 30, 2025, was $34,406 million, significantly higher than $12,801 million for the same period in 2024[22] Cash and Assets - Cash and cash equivalents as of September 30, 2025, were $55.1 million, up from $39.3 million at the end of 2024[9] - Total current assets increased to $88,193 million as of September 30, 2025, from $63,809 million as of December 31, 2024[25] - Cash and cash equivalents at the end of Q3 2025 were $55,118 million, up from $39,336 million at the end of 2024[25] - Total assets increased to $310,986 million as of September 30, 2025, from $290,809 million as of December 31, 2024[25] Expenses and Costs - SG&A expenses decreased to $7.7 million in Q3 2025 from $8.6 million in Q3 2024, reflecting lower non-cash stock-based compensation[7] - Interest expense for Q3 2025 was $5.8 million, down from $6.0 million in Q3 2024[7] - Stock-based compensation for Q3 2025 was $1,101,000, a decrease from $3,369,000 in Q3 2024, showing a reduction of about 67.3%[39] - Depreciation and amortization for Q3 2025 was $8,196,000, down from $11,471,000 in Q3 2024, representing a decline of about 28.5%[39] - Business development and integration expenses for Q3 2025 were $331,000, compared to $287,000 in Q3 2024, an increase of approximately 15.3%[39] Financial Guidance and Projections - The company expects 2025 revenue to be between $118 million to $122 million, exceeding previous guidance of $105 million to $111 million[15] - The company is on track to achieve the higher end of its 2025 Adjusted EBITDA guidance of $42 million to $48 million[15] Other Financial Metrics - Adjusted EBITDA for Q3 2025 increased 4% to $49.1 million from $47.0 million in Q3 2024[8] - Adjusted EBITDA for the nine months ended September 30, 2025, was $54,821,000, compared to $40,237,000 for the same period in 2024, reflecting a growth of about 36.3%[39] - EBITDA for Q3 2025 was $47,677,000, up from $44,806,000 in Q3 2024, indicating an increase of approximately 6.2%[39] - Interest expense for the nine months ended September 30, 2025, totaled $17,274,000, slightly down from $17,766,000 in the same period of 2024, a decrease of approximately 2.8%[39] Liabilities and Tax - Total liabilities decreased to $233,064 million as of September 30, 2025, from $237,332 million as of December 31, 2024[25] - The company reported a tax benefit of $(840,000) for Q3 2025, compared to no tax benefit in Q3 2024[39]

Financial Performance - Immunome reported a net loss of $57.5 million for Q3 2025, compared to a net loss of $47.1 million in Q3 2024[10][16]. - The total operating expenses for Q3 2025 were $60.1 million, compared to $53.4 million in Q3 2024[16]. - The accumulated deficit as of September 30, 2025, was $658.3 million, up from $515.8 million at the end of 2024[14]. Cash Position - As of September 30, 2025, cash and cash equivalents totaled $272.6 million, with net proceeds of $44.9 million from equity offerings, expected to fund operations into 2027[10]. - Immunome's total assets increased to $299.4 million as of September 30, 2025, compared to $240.2 million at the end of 2024[14]. Research and Development - Research and development expenses for Q3 2025 were $49.2 million, including stock-based compensation costs of $2.9 million, while general and administrative expenses were $10.9 million, including stock-based compensation of $3.9 million[10]. - The company anticipates topline data for the Phase 3 RINGSIDE trial of varegacestat before the end of 2025, with a potential NDA submission if warranted[2][3]. - Objective responses have been observed in B-cell lymphoma patients treated with IM-1021, with initial data presentation planned for 2026[2][3]. - Immunome received IND clearance for IM-3050 in April 2025 and plans to initiate a Phase 1 study in early 2026[4]. - The company has three preclinical ADCs against solid tumor targets, IM-1617, IM-1340, and IM-1335, advancing towards 2026 IND submissions[5].

Revenue Performance - Total revenue for Q3 2025 increased by 4% to $1,121 million compared to $1,073 million in Q3 2024[178]. - Total revenue for the three months ended September 30, 2025, was $1,121 million, reflecting a 4% increase from $1,073 million in the same period of 2024[178]. - For the nine months ended September 30, 2025, total revenue was $3,202 million, slightly up from $3,197 million in the same period of 2024[178]. - Consolidated revenue for the three months ended September 30, 2025, increased by 4% to $1,121 million compared to $1,073 million in 2024, driven by a $62 million increase in core business segment revenues[195]. - Consolidated revenue for the nine months ended September 30, 2025, was flat at $3,202 million compared to $3,197 million in 2024, with core business segment revenue increasing by 3%[196]. Recurring Revenue - Recurring revenue for Q3 2025 was $783 million, representing 69.8% of total revenue, a decrease from 73.2% in Q3 2024[178]. - Annualized recurring revenue (ARR) increased to $1,712 million in Q3 2025 from $1,645 million in Q3 2024, representing a growth of 4.1%[180]. - Recurring revenue as a percentage of Self-Service Banking (SSB) revenue decreased to 57% in Q3 2025 from 61% in Q3 2024[180]. Net Income and Profitability - Net income attributable to Atleos for Q3 2025 was $26 million, a 24% increase from $21 million in Q3 2024[179]. - Net income attributable to Atleos for Q3 2025 was $26 million, a 30% increase from $20 million in the same period of 2024[193]. - Net income attributable to Atleos for the nine months ended September 30, 2025, was $79 million, a 103% increase compared to $39 million in 2024[179]. EBITDA and Margins - Adjusted EBITDA for Q3 2025 was $219 million, representing 19.5% of total revenue, up from 19.1% in Q3 2024[179]. - Adjusted EBITDA for the three months ended September 30, 2025, was $219 million, representing an adjusted EBITDA margin of 19.5%[188]. - Adjusted EBITDA rose by 21% to $196 million for the three months ended September 30, 2025, compared to $162 million in the prior year[216]. - Adjusted gross margin rate for Q3 2025 was 26.5%, compared to 26.1% in Q3 2024[190]. - Total gross margin for Q3 2025 improved to 24.2%, up from 23.9% in Q3 2024[193]. Expenses - Selling, general and administrative expenses for the three months ended September 30, 2025, increased by 13% to $143 million, representing 12.8% of total revenue[199]. - Research and development expenses increased by 20% to $18 million in Q3 2025 from $15 million in Q3 2024[193]. - Research and development expenses for the nine months ended September 30, 2025, increased by 21% to $52 million, accounting for 1.6% of total revenue[202]. - Interest expense decreased to $68 million in Q3 2025 from $79 million in Q3 2024, a reduction of 14%[193]. Cash Flow and Debt - Cash provided by operating activities decreased by $139 million to $125 million for the nine months ended September 30, 2025, compared to $264 million in the prior year[229]. - As of September 30, 2025, cash and cash equivalents totaled $412 million, while total debt stood at $2,912 million[238]. - The company has a borrowing capacity of $348 million under its Revolving Credit Facility as of September 30, 2025[238]. - Net cash provided by operating activities for the nine months ended September 30, 2025, was $125 million, compared to $264 million for the same period in 2024[242]. - Adjusted free cash flow-unrestricted for the nine months ended September 30, 2025, was $114 million, slightly down from $123 million in 2024[242]. Strategic Initiatives - The company aims to shift towards a highly recurring revenue model to drive stable cash flows and returns to stockholders[165]. - Atleos is focusing on expanding its ATMaaS offerings to meet global demand for ATM access and digital currency solutions[165]. - The company expects to utilize cash flows to invest in business growth strategies and repay indebtedness over time[240]. - The company has a share repurchase program authorized for up to $200 million over 24 months, with no repurchase activity reported during the three and nine months ended September 30, 2025[237]. Macroeconomic Factors - The company is navigating macroeconomic pressures, including higher interest rates and increased logistics costs, which may impact business performance in the short term[170]. - The company emphasizes the importance of generating positive cash flows from operations, which are subject to economic conditions and competitive environment[239]. Spin-off and Corporate Structure - The spin-off from NCR Corporation was completed on October 16, 2023, establishing Atleos as a standalone publicly-traded company[162]. - The company expects to continue incurring one-time separation costs related to the spin-off, projected to last through at least fiscal year 2025[163]. Revenue Breakdown - Product revenue rose to $274 million in Q3 2025, up 17% from $234 million in Q3 2024, while service revenue increased slightly to $847 million[193]. - Self-Service Banking revenue for the nine months ended September 30, 2025, rose by 7% to $2,099 million from $1,967 million in 2024, contributing 65.6% of total revenue[196]. - Self-Service Banking revenue increased by 11% to $744 million for the three months ended September 30, 2025, compared to $672 million in the prior year[215]. - Hardware revenue surged by 25% to $235 million, driven by demand related to the industry refresh cycle[215]. - Network revenue decreased by 1% to $328 million for the three months ended September 30, 2025, primarily due to a decline in withdrawal volumes[219]. - Telecommunications & Technology (T&T) revenue fell by 13% to $40 million for the three months ended September 30, 2025, due to decreases in hardware maintenance and installation revenue[223].