Financial Performance - CNO reported consolidated financial results for the nine months ended September 30, 2025, with a focus on the performance of its insurance product lines: annuity, health, and life[243]. - For the nine months ended September 30, 2025, the total insurance product margin increased to $801.8 million, up from $786.9 million in 2024, representing a growth of 1.1%[263]. - The net operating income for the nine months ended September 30, 2025, was $295.8 million, compared to $291.3 million in 2024, reflecting a slight increase of 1.5%[263]. - The health margin for the nine months ended September 30, 2025, rose to $417.2 million, compared to $386.7 million in 2024, marking an increase of 7.9%[263]. - The annuity margin decreased to $182.2 million for the nine months ended September 30, 2025, down from $219.2 million in 2024, a decline of 16.9%[263]. - The life margin improved to $202.4 million for the nine months ended September 30, 2025, compared to $181.0 million in 2024, an increase of 11.9%[263]. - Operating earnings before taxes for the nine months ended September 30, 2025, were $379.7 million, slightly up from $376.9 million in 2024, an increase of 0.7%[263]. - The net income for the three months ended September 30, 2025, was $23.1 million, compared to $9.3 million in 2024, a significant increase of 148.4%[263]. Investment Performance - The investment segment's profitability is measured by total net investment income not allocated to insurance products, which includes various income sources and expenses related to corporate debt[251]. - Total net investment income increased by 4% to $310.4 million in Q3 2025, compared to $299.5 million in Q3 2024, and by 7% to $911.9 million in the first nine months of 2025, compared to $854.2 million in the same period of 2024[276]. - The investment income not allocated to product lines for the nine months ended September 30, 2025, was $111.3 million, up from $102.6 million in 2024, an increase of 8.5%[263]. - Net realized investment losses from disposals and impairments for the nine months ended September 30, 2025, were $43.8 million, compared to $37.6 million in 2024, an increase of 16.5%[263]. - The company recognized a decrease in pre-tax earnings of $18.1 million in Q3 2025 due to changes in the fair value of embedded derivative liabilities, compared to a decrease of $127.1 million in Q3 2024[307]. Regulatory and Economic Environment - CNO's operations are affected by economic uncertainties, including inflation and market volatility, which may impact financial performance[237]. - Future performance may be influenced by regulatory changes, interest rate risks, and the ability to generate sufficient liquidity for debt obligations[238]. - The company emphasizes the importance of maintaining effective controls over financial reporting and modeling to manage risks[239]. Business Segments - The Consumer Division engages with individual consumers through multiple sales channels, integrating agent sales forces with direct-to-consumer capabilities[249]. - The Worksite Division focuses on selling voluntary benefit life and health insurance products in workplaces, offering services to enhance benefits engagement[250]. Capital Management - The company plans to exit the fee services business, expecting to reduce annual fee revenue by approximately $30 million and increase annual pre-tax income by roughly $20 million[312]. - The expected operating earnings per diluted share for 2025 has been narrowed to a range of $3.75 to $3.85, down from a previous range of $3.70 to $3.90[313]. - The company is increasing its expected excess cash flow to the holding company to a range of $365 million to $385 million, up from $200 million to $250 million[316]. - The run rate operating ROE target is increased to a total improvement of 200 basis points through 2027, with an expected improvement of approximately 50 basis points in 2025[315]. - The company aims to maintain a consolidated RBC ratio of 375 percent for U.S. based insurance subsidiaries and a minimum holding company liquidity of $150 million[317]. Ratings and Financial Strength - Fitch, S&P, Moody's, and AM Best affirmed strong financial strength ratings for the company's primary insurance subsidiaries, indicating stable outlooks[332][333][334][335]. - As of September 30, 2025, the subsidiaries of CLTX reported a deficit of $563.6 million for Colonial Penn and an earned surplus of $1.0 million for Bankers Conseco Life Insurance Company[342]. - Free cash flow generated in the first nine months of 2025 was approximately $131.5 million, with $259.9 million used to repurchase 6.7 million shares of common stock[345]. Investment Portfolio - As of September 30, 2025, the total investment grade fixed maturities available for sale amounted to $22,299.1 million, with gross unrealized losses of $1,972.2 million[354]. - The total fixed maturities available for sale was $23,405.3 million, with an amortized cost of $25,219.3 million as of September 30, 2025[354]. - The company had no amounts outstanding under its $250 million Revolving Credit Agreement as of September 30, 2025, with no scheduled repayments until May 2029[344]. - The carrying value of investments held by VIEs was $296.8 million, with gross unrealized losses of $1.8 million as of September 30, 2025[372]. Expenses and Cost Management - Advertising expenses decreased to $14.8 million in Q3 2025 from $18.5 million in Q3 2024, reflecting a shift to more cost-effective advertising strategies[300]. - Expenses allocated to product lines were $151.0 million in Q3 2025, slightly down from $153.0 million in Q3 2024, while total allocated and unallocated expenses were $173.3 million in Q3 2025 compared to $168.6 million in Q3 2024[278][279].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q x 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 Commission File Number: 814-00646 MIDCAP FINANCIAL INVESTMENT CORPORATION (Exact name of Registrant as specified in its charter) Maryland 52-2439556 (State or other jurisdiction ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q x 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 Commission File Number: 814-00646 MIDCAP FINANCIAL INVESTMENT CORPORATION (Exact name of Registrant as specified in its charter) Maryland 52-2439556 (State or other jurisdiction ...

Exhibit 99.1 Relay Therapeutics Reports Third Quarter 2025 Financial Results and Corporate Updates Continued focused execution of RLY-2608 clinical trials in PI3Kα-mutated breast cancer and vascular malformations Appointed Lonnel Coats and Habib Dable, former biotech CEOs with launch and commercialization expertise, to the Company's Board of Directors Approximately $596 million in cash, cash equivalents and investments at end of Q3 2025 Cambridge, Mass. – November 6, 2025 – Relay Therapeutics, Inc. (Nasdaq: ...

Clinical Trial Results - The Company announced results from its Phase 3 INFRONT-3 clinical trial, which included a preliminary estimate of cash, cash equivalents, and short-term investments as of September 30, 2025[6]. - The Company is discontinuing the open-label extension portion of the INFRONT-3 trial and the continuation study for latozinemab[8]. - The Company issued a press release on October 21, 2025, detailing the results of the Phase 3 INFRONT-3 clinical trial and the workforce reduction plan[12]. Workforce Reduction - The Company plans to reduce its workforce by approximately 49%, impacting about 75 employees, to align resources with strategic priorities[8]. - Total incremental restructuring charges associated with the reduction in force are expected to be approximately $7.7 million[9]. - The reduction in force is expected to be completed during the first half of 2026[9]. - The Company may incur additional costs related to the workforce reduction that are not currently contemplated[9]. - Forward-looking statements regarding the Company's business strategy and expected impacts of the workforce reduction are subject to risks and uncertainties[14]. Executive Changes - Dr. Sara Kenkare-Mitra, President and Head of Research and Development, will resign effective December 22, 2025[10]. - Dr. Kenkare-Mitra will receive a lump-sum cash payment equal to nine months of her annual base salary and 50% of her annual bonus target[11].

Financial Performance - Commercial revenue for Q3 2025 was $17.1 million, a 13% decrease from $19.5 million in Q3 2024[6] - Total revenues for the three months ended September 30, 2025, were $17,062,000, a decrease of 12.7% compared to $19,546,000 for the same period in 2024[30] - Net loss improved to $13.2 million, or $0.46 per share, from a net loss of $16.2 million, or $0.62 per share, in Q3 2024[15] - Operating loss for the three months ended September 30, 2025, was $9,153,000, an improvement from a loss of $13,806,000 in the same quarter of 2024[30] - Net loss for the nine months ended September 30, 2025, was $36,966,000, compared to a net loss of $50,256,000 for the same period in 2024, indicating a reduction in losses[30] Expenses and Liabilities - Operating expenses decreased by 24%, or $7.2 million, to $23.0 million compared to $30.2 million in the same period last year[13] - Research and development expenses for the nine months ended September 30, 2025, were $15,148,000, slightly down from $15,510,000 in the previous year[30] - Total liabilities increased to $70,394,000 as of September 30, 2025, compared to $74,968,000 at the end of 2024[28] Cash and Assets - Cash, cash equivalents, and marketable securities totaled $23.3 million as of September 30, 2025, reflecting a net use of cash of $6.2 million[16] - Cash and cash equivalents increased to $15,422,000 as of September 30, 2025, up from $14,050,000 at the end of 2024[28] - Total current assets decreased to $41,367,000 as of September 30, 2025, from $57,000,000 at December 31, 2024[28] - The company’s additional paid-in capital increased to $392,782,000 as of September 30, 2025, from $367,568,000 at December 31, 2024[28] Market and Product Development - RECELL GO® received CE Mark approval, enabling commercialization in Europe, starting with Germany, Italy, and the United Kingdom[7] - A global review of over 8,000 patients confirmed RECELL's ability to achieve wound closure with less donor skin and faster healing[8] - The company is focusing on approximately 200 U.S. burn and trauma centers, targeting an addressable market of roughly $1.3 billion[9] Future Outlook - The company expects full-year 2025 revenue in the range of $70 million to $74 million, down from prior guidance of $76 million to $81 million[17] - AVITA Medical is exploring opportunities to enhance financial flexibility and plans to provide an update on capital and growth plans in Q1 2026[19] Profitability - The gross profit margin was 81.3%, down from 83.7% in the prior year, primarily due to product mix and inventory-related adjustments[12] - Gross profit for the nine months ended September 30, 2025, was $44,505,000, representing an increase of 14.2% from $39,031,000 in the prior year[30]

Financial Performance - Total revenues for the three months ended September 30, 2025, were $80,853,000, representing a 14.3% increase from $70,836,000 in the same period of 2024[80]. - Transaction fees increased to $48,060,000 in Q3 2025, up from $43,604,000 in Q3 2024, reflecting an increase of 10.1%[80]. - Subscription fees rose to $22,265,000 in Q3 2025, compared to $20,188,000 in Q3 2024, marking a growth of 10.3%[80]. - Segment net loss for the same period was $(919,000), a significant decline from a net income of $3,572,000 in 2024[103]. - Revenue for the three months ended September 30, 2025, was $80,853,000, an increase of 14.3% compared to $70,836,000 in 2024[103]. Accounts Receivable and Allowance for Credit Losses - Accounts receivable net of the allowance for uncollectible accounts increased to $41.9 million as of September 30, 2025, from $37.9 million as of June 30, 2025, representing a growth of 5.3%[40]. - The allowance for credit losses at the end of the quarter was $14.179 million, up from $13.646 million at the end of the previous quarter, indicating an increase of 3.9%[41]. - The provision for expected losses for finance receivables was $(167,000) for the three months ended September 30, 2025, compared to $391,000 for the same period in 2024, indicating a significant reduction in provisions[44]. Debt and Financing - The Company’s total debt and other financing arrangements decreased to $38.289 million as of September 30, 2025, from $38.663 million as of June 30, 2025, a decline of 1.0%[50]. - The total outstanding debt as of September 30, 2025, is $38.289 million, with principal amounts payable totaling $38.605 million[63]. - The 2025 Credit Facility includes a $40 million secured term loan facility and a $30 million secured revolving credit facility, aimed at financing working capital needs and general corporate purposes[52]. - The weighted average interest rate for the 2025 Credit Facility is approximately 7.13% as of September 30, 2025[55]. - Interest on the 2025 Credit Facility is based on a base rate or SOFR, with margins ranging from 1.75% to 3.50% depending on the loan type[159]. Acquisitions - The Company acquired SB Software for approximately $11.4 million, enhancing operational capabilities in Europe[69]. - The Company acquired Cheq for $4.5 million, positioning itself for expansion into the sports and entertainment sectors[75]. - Goodwill of $7.8 million from the SB Software acquisition reflects expected synergies[73]. - Goodwill from the acquisition amounted to $2.0 million, reflecting expected synergies between Cheq and the Company[78]. - The Company recognized a $0.8 million loss due to the increase in the fair value of contingent consideration related to SB Software[70]. Revenue Recognition and Deferred Revenue - Deferred revenue at the end of Q3 2025 was $3,975,000, significantly higher than $1,471,000 at the end of Q3 2024, indicating a growth of 170.5%[84]. - Future performance obligations estimated to be recognized in revenue total $6,310,000 as of September 30, 2025[85]. Expenses - Total accrued expenses increased to $22.480 million as of September 30, 2025, compared to $19.748 million as of June 30, 2025[64]. - Other general and administrative expenses include marketing, bad debt expense, and various selling expenses, totaling $(2,867,000) for the period[103]. - Professional services expenses increased significantly to $(9,044,000) in 2025 from $(3,125,000) in 2024[103]. - Depreciation and amortization expenses rose to $(3,795,000) in 2025, compared to $(2,672,000) in 2024[103]. Compliance and Accounting Standards - The Company was in compliance with its financial covenants for the 2025 Credit Facility as of September 30, 2025[58]. - The Company performed an annual goodwill impairment test and did not recognize any impairment charges during the three months ended September 30, 2025[67]. - The Company is currently assessing the impact of new accounting standards on its consolidated financial statements and disclosures, including ASU 2023-09 and ASU 2024-03, which will affect future reporting periods[36][37]. Cash Management - The company invests excess cash in money market funds, which are highly liquid and marketable, earning a floating rate of interest[160]. - There are no freestanding derivative instruments held by the company as of September 30, 2025[161].

PLEASANTON, Calif. – (BUSINESS WIRE) – November 6, 2025 – AEye, Inc. (Nasdaq: LIDR), a global leader in software- defined lidar solutions, and the manufacturer of the Apollo lidar sensor, today announced its results for the third quarter ended September 30, 2025. Recent Business Highlights Management Commentary Exhibit 99.1 AEye Reports Third Quarter 2025 Results Doubled customer base, fueling expansion across high-growth markets Secured strategic investment to significantly expand Apollo production capacit ...

Financial Performance - Total revenues for Q3 2025 were $3.7 million, a decrease of approximately $0.1 million compared to $3.8 million in Q3 2024[14] - Total revenues for the three months ended September 30, 2025, were $3,681,000, a decrease of 2.6% compared to $3,779,000 for the same period in 2024[30] - Net loss attributable to Lineage for Q3 2025 was $29.8 million, or $0.13 per share, compared to a net loss of $3.0 million, or $0.02 per share, in Q3 2024[20] - Net loss attributable to Lineage for the nine months ended September 30, 2025, was $64,384,000, significantly higher than the net loss of $15,336,000 for the same period in 2024[32] - Collaboration revenues for the three months ended September 30, 2025, increased to $3,544,000, up from $3,386,000 in the same period of 2024, representing a growth of 4.7%[30] Operating Expenses - Operating expenses for Q3 2025 were $7.5 million, a decrease of $0.1 million from $7.6 million in Q3 2024[16] - Total operating expenses for the nine months ended September 30, 2025, were $38,019,000, an increase of 65.5% compared to $22,999,000 for the same period in 2024[30] Cash and Liquidity - Cash, cash equivalents, and marketable securities totaled $40.5 million as of September 30, 2025, expected to support operations into Q2 2027[13] - Cash and cash equivalents decreased to $40,977,000 as of September 30, 2025, from $46,354,000 at the beginning of the period[32] - The company experienced a net cash used in operating activities of $14,041,000 for the nine months ended September 30, 2025, compared to $16,746,000 for the same period in 2024[32] Research and Development - R&D expenses increased to $3.3 million in Q3 2025, up from $3.2 million in Q3 2024, driven by $0.2 million for the OPC1 program[17] - Lineage continues to pursue grant funding from the California Institute for Regenerative Medicine (CIRM) for the OPC1 program[3] - Lineage initiated a manufacturing scale project for Type 1 Diabetes cell therapy, focusing on large-scale production of islet cells[6] Clinical Studies and Collaborations - Lineage reported positive results from the RG6501 (OpRegen) Phase 1/2a clinical study, suggesting sustained gains in visual acuity[5] - A collaboration with William Demant Invest A/S was established to develop ReSonance (ANP1) for sensorineural hearing loss, with up to $12 million in development costs covered by WDI[9] - The first chronic spinal cord injury participant was treated in the DOSED clinical study, with no significant safety events reported after sixty days[15] Liabilities and Impairments - The total liabilities increased to $68,843,000 as of September 30, 2025, compared to $36,206,000 as of December 31, 2024[28] - The company reported a loss on impairment of intangible assets of $14,840,000 for the nine months ended September 30, 2025[30] - The change in fair value of warrant liability resulted in a loss of $36,992,000 for the nine months ended September 30, 2025[30] Share Information - The weighted-average common shares used to compute basic and diluted net loss per common share for the nine months ended September 30, 2025, were 227,765, compared to 186,860 for the same period in 2024[30]

- CX-2051 Phase 1b CRC combination study with bevacizumab to start in Q1 2026 - - Positive CX-801 Phase 1 monotherapy biomarker data at SITC 2025 supportive of ongoing Phase 1 combination study with KEYTRUDA® (pembrolizumab) in melanoma - - Company to host conference call today at 5 p.m. EST / 2 p.m. PST - SOUTH SAN FRANCISCO, Calif., November 6, 2025 – CytomX Therapeutics, Inc. (Nasdaq: CTMX), a leader in the field of masked, conditionally activated biologics, today announced third quarter 2025 financial r ...