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: 001-40623 TWIN VEE POWERCATS CO. (Exact name of registrant as specified in its charter) Delawar ...

Membership and User Metrics - Active Members as of September 30, 2025 decreased to 34.3 thousand, a 14% decline year-over-year compared to 39.7 thousand in September 30, 2024[70] - Active Experts decreased to 8.1 thousand for the three months ended September 30, 2025, a 15% decline from 9.5 thousand in the same period of 2024[72] Revenue and Profitability - Revenue for the three months ended September 30, 2025 was $37,019 thousand, a slight decrease of 1% compared to $37,530 thousand in the prior year[72] - Consumer revenue for the three months ended September 30, 2025 increased by 4% to $33,166 thousand, while Institutional revenue decreased by 32% to $3,688 thousand[78] - Gross Profit for the three months ended September 30, 2025 was $23,296 thousand, representing a gross margin of 63%, down from 70% in the prior year[80] - The net loss for the three months ended September 30, 2025 was $18,756 thousand, a 51% increase compared to a net loss of $24,958 thousand in the prior year[72] - Average Revenue per Member per Month (ARPM) increased by 24% to $374 as of September 30, 2025, compared to $302 in September 30, 2024[71] Operating Expenses - Total operating expenses for the three months ended September 30, 2025 were $52,177 thousand, an increase of 19% compared to $42,378 thousand in the same period of 2024[83] - Sales and marketing expenses decreased by $3,532 thousand, or 18%, for the three months ended September 30, 2025, compared to the same period in 2024[84] - General and administrative expenses decreased by $3,302 thousand, or 15%, for the three months ended September 30, 2025, excluding non-cash stock-based compensation[87] - Product and development costs were $10,285 thousand for the three months ended September 30, 2025, down from $11,273 thousand in the same period in 2024[86] - General and administrative expenses decreased by $7,128 thousand, or 11%, for the nine months ended September 30, 2025, excluding non-cash stock-based compensation[87] Cash Flow and Liquidity - Cash used in operating activities increased by $11,625 thousand for the nine months ended September 30, 2025, compared to the same period in 2024[99] - Cash and cash equivalents totaled $32,710 thousand as of September 30, 2025, down from $52,541 thousand as of December 31, 2024[91] - Cash used in investing activities was $4,051 thousand for the nine months ended September 30, 2025, compared to $5,700 thousand in the same period in 2024[100] - The company expects to use cash on hand to satisfy future working capital requirements and sales and marketing activities[95] Future Outlook and Company Status - The company expects sequential quarterly gross margin improvement to continue into the fourth quarter of 2025 due to a shift towards higher frequency and higher priced Learning Memberships[81] - The company is rolling out new user experiences for students and Experts in Q4 2025 to address operational challenges and re-accelerate growth[69] - The company expects to remain an emerging growth company until the earlier of the fifth anniversary of its IPO, achieving total annual gross revenue of at least $1,235,000 thousand, or being deemed a large accelerated filer with a market value of $700,000 thousand[112] - As of June 30, 2025, the company will continue to qualify as a smaller reporting company, with a market value of shares held by non-affiliates being less than $250,000 thousand or annual revenues below $100,000 thousand[114] Market Risk - The company’s exposure to market risk, foreign currency exchange rates, and interest rates is considered immaterial[115] - Interest income for the three months ended September 30, 2025, was $357 thousand, a decrease from $768 thousand in the same period in 2024[89] - The company borrowed $20,000 thousand under a Term Loan on November 3, 2025, with the first tranche of up to $30,000 thousand available for borrowing[94]

Exhibit 99.1 • Announced expanded and accelerated Phase 3 Plan for CD388, its non-vaccine influenza preventative therapeutic • Enrolled and dosed first patients in Phase 3 ANCHOR study; target enrollment on track for completion in the Northern Hemisphere by December 2025; Phase 3 initiation triggered $45.0 million milestone payment to Janssen • BARDA award to support expanded manufacturing and clinical development of CD388 • FDA granted Breakthrough Therapy designation to CD388 • Conference call and webcast ...

Financial Performance - Total revenue for Q3 2025 reached $1,092.7 million, a 11.3% increase from $981.8 million in Q3 2024[7] - Service revenue increased to $845.0 million, up 8.3% from $779.9 million year-over-year[7] - Net income for the nine months ended September 30, 2025, was $318.2 million, compared to $294.4 million for the same period in 2024, reflecting an increase of 8.5%[8] - Basic earnings per share available to common stockholders rose to $0.43 in Q3 2025, compared to $0.36 in Q3 2024, marking a 19.4% increase[7] - The net income for the three months ended September 30, 2025, was $95.5 million, compared to a net income of $76.1 million for the same period in 2024, representing an increase of 25.1%[12] - Net income for the nine months ended September 30, 2025, was $318.2 million, an increase of 8.0% compared to $294.4 million for the same period in 2024[15] - Net income increased 25% to $95.2 million, while net income available to common stockholders rose 21% to $80.7 million[118] Assets and Liabilities - Total assets increased to $12,240.1 million as of September 30, 2025, up from $11,807.0 million at the end of 2024, representing a growth of 3.7%[10] - Current liabilities increased to $1,516.7 million as of September 30, 2025, compared to $1,331.3 million at the end of 2024, reflecting a rise of 13.9%[10] - The company’s retained earnings grew to $1,212.3 million as of September 30, 2025, up from $1,090.3 million at the end of 2024, indicating an increase of 11.2%[10] - As of September 30, 2025, the total stockholders' equity increased to $5,485.3 million, up from $5,157.6 million on June 30, 2024, reflecting a growth of approximately 6.3%[12] - The total long-term debt as of September 30, 2025, was $2,568.6 million, a decrease from $2,626.2 million at December 31, 2024, representing a reduction of 2.2%[68] Cash Flow - Cash provided by operating activities was $723.0 million, slightly down from $747.5 million in the previous year[15] - Cash used in investing activities totaled $465.3 million, significantly higher than $209.6 million in the prior year[15] - Cash and cash equivalents at the end of the period were $753.3 million, down from $790.1 million at the end of the previous year[15] - The company reported a net cash used in financing activities of $226.5 million, a decrease from $491.6 million in the prior year[15] Expenses - Total operating expenses for Q3 2025 were $935.6 million, up from $828.9 million in Q3 2024, indicating a rise of 12.9%[7] - Share-based payments expense for the nine months ended September 30, 2025, totaled $59.5 million, compared to $40.8 million for the same period in 2024, reflecting a rise of 45.5%[13] - Selling, general, and administrative expenses increased by 22% in Q3 2025, mainly due to higher employee compensation and professional fees[134] - Interest expense for the three months ended September 30, 2025, was $48.2 million, a decrease from $57.2 million in 2024[36] Acquisitions - The company completed the acquisition of J.M. Wood for a total purchase consideration of $239.0 million, with approximately $163.6 million paid at closing[28][29] - The acquisition of J.M. Wood is expected to enhance the company's geographic coverage and leverage regional expertise[28] - The fair value of identifiable intangible assets acquired from J.M. Wood was $49.9 million, with a weighted average amortization period of 6.8 years[30] Dividends - The company paid dividends of $165.5 million to common stockholders, an increase from $152.4 million in the previous year[15] - The company declared a quarterly dividend of $0.31 per common share, payable on December 17, 2025, to common stockholders of record on November 26, 2025[82] Tax and Compliance - The effective tax rate for the three months ended September 30, 2025, was 14.8%, down from 20.5% for the nine months ended September 30, 2025[43] - The company remains compliant with all financial covenants applicable to its debt agreements as of September 30, 2025[150] Market and Operational Insights - Total GTV increased 7% to $3.9 billion[118] - Total service revenue grew by 8% to $845.0 million in Q3 2025, with transactional buyer revenue up 12%[124] - Inventory sales revenue surged by 23% in Q3 2025, primarily due to the inclusion of J.M. Wood and a large customer in the CC&T sector[128] - The automotive sector GTV rose by 6% in Q3 2025, attributed to market share gains and higher volumes, despite a decrease in average price per lot sold[120] Other Financial Metrics - Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) increased 16% to $327.7 million[118] - Adjusted net income available to common stockholders increased by 33% to $174.0 million for the three months ended September 30, 2025, compared to $130.8 million in 2024[171] - Adjusted net debt decreased by 7% to $1,967.5 million as of September 30, 2025, compared to $2,110.0 million in 2024[176]

Revenue Performance - For the first nine months of 2025, revenues reached $4.050 billion, a 16.4% increase from $3.480 billion in the same period of 2024[133] - During Q3 2025, total revenues increased by 19.4% to $1.394 billion compared to Q3 2024, driven by improving demand, acquisitions contributing 10.5%, and foreign exchange fluctuations adding 1.8%[139] - For the three months ended September 30, 2025, total revenues were $1,394.4 million, a 19.4% increase from $1,167.5 million in the same period of 2024[140] - Revenues from the Americas accounted for 58.0% of total revenues, increasing to $808.6 million from $697.2 million, while EMEA contributed 39.9% with revenues of $555.7 million, up from $444.9 million[140] - Revenues in the United States increased by 7.4% to $716.2 million compared to $666.9 million in Q3 2024, driven by increased spending at large accounts and contributions from 2024 acquisitions[142] - EMEA's top revenue-generating countries included the United Kingdom ($153.4 million), Switzerland ($113.3 million), and Netherlands ($60.7 million), showing significant growth from the previous year[143] - APAC revenues rose by 17.7% to $30.0 million for Q3 2025, primarily due to growth in the Consumer Goods, Retail & Travel vertical[144] Operating Performance - Income from operations as a percentage of revenues decreased to 9.2% for the nine months ended September 30, 2025, down from 11.7% for the same period in 2024[133] - Diluted earnings per share decreased to $4.75 for the nine months ended September 30, 2025, from $6.04 for the same period in 2024[133] - Operating expenses for Q3 2025 included cost of revenues at $983.2 million (70.5% of revenues), up from $764.0 million (65.4%) in Q3 2024[137] - Selling, general, and administrative expenses for Q3 2025 were $234.9 million, representing 16.8% of revenues, compared to $206.8 million (17.7%) in Q3 2024[137] - The effective tax rate for Q3 2025 was 25.6%, compared to 28.1% in Q3 2024[137] - The company reported a decrease in operating profit margins in both segments due to lower government incentives and increased variable compensation expenses[167][171] Cash Flow and Financial Position - As of September 30, 2025, the company had cash and cash equivalents totaling $1.239 billion[172] - Net cash provided by operating activities for the nine months ended September 30, 2025, was $372.0 million, a decrease of 13.2% from $428.9 million in 2024[173] - Cash used in investing activities included $27.5 million for capital expenditures in 2025, up from $16.4 million in 2024, and $3.3 million for business acquisitions, down from $57.1 million in 2024[175] - Cash used in financing activities totaled $438.6 million for share repurchases in 2025, compared to $385.0 million in 2024, with $35.0 million received from stock option exercises and ESPP purchases[176] - The company recorded a tax shortfall of $0.8 million for stock awards during the nine months ended September 30, 2025, compared to an excess tax benefit of $20.5 million in 2024[155] - Cash, cash equivalents, and restricted cash at the end of the period were $1.24 billion in 2025, down from $2.04 billion in 2024[173] - The company experienced a net decrease in cash of $46.9 million in 2025, compared to a decrease of $2.4 million in 2024[173] - The company anticipates that existing cash and expected cash flow from operations will be sufficient to meet projected operating and capital expenditure requirements for at least the next twelve months[177] Geopolitical Impact - The company continues to adapt its business continuity plans in response to the ongoing war in Ukraine, reallocating work to other geographies[130] - The impact of the war in Ukraine has led to increased expenses related to business continuity and humanitarian commitments, which are expected to persist in future quarters[131] - The ongoing geopolitical events, including the invasion of Ukraine, may continue to disrupt financial markets and impact the company's business operations[178] - Forward-looking statements indicate potential impacts from geopolitical events and economic conditions on client demand and profitability[182] Segment Performance - Americas segment revenues for Q3 2025 increased by $95.3 million, or 13.5%, to $799.9 million compared to Q3 2024[163] - Americas segment operating profit for Q3 2025 decreased by $20.4 million, or 13.0%, to $136.3 million compared to Q3 2024[163] - Acquisitions contributed $66.3 million to Americas segment revenues in Q3 2025[163] - Europe segment revenues for Q3 2025 increased by $131.6 million, or 28.4%, to $594.5 million compared to Q3 2024[167] - Europe segment operating profit for Q3 2025 decreased by 3.3% to $88.9 million compared to Q3 2024[167] - Acquisitions contributed $55.8 million to Europe segment revenues in Q3 2025[167] - Financial Services in the Americas segment grew by 16.4% in Q3 2025 compared to Q3 2024, driven by new client revenues from acquisitions[165] - Financial Services in the Europe segment grew by 49.4% in Q3 2025 compared to Q3 2024, benefiting from new client revenues from acquisitions[170] Miscellaneous - The company maintained a $100 million humanitarian aid commitment to employees in Ukraine, with $12.5 million remaining to be expensed as of September 30, 2025[128] - The effective tax rate for the nine months ended September 30, 2025, was 25.8%, down from 21.4% in 2024, influenced by government incentives related to R&D in Poland[155] - The company may require additional cash resources for future investments or acquisitions, which could lead to dilution for existing shareholders if equity is issued[178] - The company has not entered into any material off-balance sheet commitments or arrangements that expose it to significant risks[180]

Financial Performance - Net sales for Q3 2025 were $2,096 million, a year-over-year increase of 0.7%, with organic sales growth of 2.7%[5] - Net income surged to $1,266 million, reflecting a remarkable increase of 937.7% compared to Q3 2024[5] - Diluted earnings per share reached $7.22, up 931.4% from $0.70 in the same quarter last year[5] - Total net sales for the three months ended September 30, 2025, were $2,096 million, a slight increase of 0.7% compared to $2,082 million in the same period of 2024[24] - Net income for the nine months ended September 30, 2025, was $1,493 million, significantly up from $448 million in the same period of 2024, representing a growth of 233.5%[30] - The diluted earnings per share for the nine months ended September 30, 2025, was $8.53, compared to $2.58 in the same period of 2024, marking an increase of 230.6%[24] - Non-GAAP adjusted diluted earnings per share for the three months ended September 30, 2025, was $1.50, compared to $1.64 in the same period of 2024[50] - Non-GAAP net income attributable to Solventum for the nine months ended September 30, 2025, was $794 million, with diluted EPS of $4.53[57] Sales and Revenue Growth - The company has increased its full-year organic sales growth guidance to the high end of the +2.0% to +3.0% range[7] - Total reportable segment net sales for the nine months ended September 30, 2025, reached $5,600 million, an increase from $5,413 million in the same period of 2024, reflecting a growth of 3.4%[41] - Net sales for the nine months ended September 30, 2025, were $6,327 million, a 2.4% increase from $6,179 million in the same period of 2024[57][58] - Advanced Wound Care segment net sales were $1,400 million for the nine months ended September 30, 2025, up from $1,369 million in 2024, indicating a growth of 2.3%[41] - Dental Solutions segment reported net sales of $1,006 million for the nine months ended September 30, 2025, with an operating income margin of 26.1%[41] - The Purification and Filtration segment generated net sales of $497 million for the nine months ended September 30, 2025, with an operating income margin of 19.3%[41] Cost and Expenses - Operating cash flow for Q3 2025 was $75 million, a decrease of 55.6% from the previous year[5] - Free cash flow was reported at ($22) million, down 128.9% year-over-year[5] - Research and development expenses decreased by 3.2% to $183 million compared to Q3 2024[5] - Operating expenses for the nine months ended September 30, 2025, totaled $2,885 million, an increase from $2,574 million in 2024[57][58] - The company reported a significant increase in costs related to restructuring and separation, impacting overall financial performance[59][60] Initiatives and Future Outlook - Solventum launched a new initiative, 'Transform for the Future', aimed at generating approximately $500 million in annual cost savings[10] - The company anticipates cumulative pretax costs related to the 'Transform for the Future' initiative will be approximately $500 million[10] - Adjusted diluted earnings per share outlook has been raised to a range of $5.98 to $6.08[14] Cash and Assets - Cash and cash equivalents increased to $1,642 million as of September 30, 2025, up from $762 million at the end of 2024[26] - Total current assets rose to $4,407 million as of September 30, 2025, compared to $3,249 million at the end of 2024, reflecting a growth of 35.5%[26] Profitability Metrics - The gross profit margin for the three months ended September 30, 2025, was 54.2%, compared to 56.0% in the same period of 2024[24] - Gross margin for the nine months ended September 30, 2025, was 54.1%, down from 56.2% in 2024[57][58] - Operating income for the three months ended September 30, 2025, was $1,690 million, a substantial increase from $275 million in the same period of 2024[24] - Operating income for the nine months ended September 30, 2025, was $2,057 million, representing an operating income margin of 32.5%[57] - Health Information Systems segment achieved an operating income margin of 35.8% for the nine months ended September 30, 2025, compared to 32.6% in the previous year[41] - The company reported a gain on the sale of business amounting to $1,518 million for the nine months ended September 30, 2025[24] - The company incurred $1,518 million in losses on the sale of business, impacting overall profitability[57]

Exhibit 99.1 EverCommerce Announces Third Quarter 2025 Financial Results Denver, CO (November 6, 2025) EverCommerce Inc. ("EverCommerce" or the "Company") (NASDAQ: EVCM), a leading service commerce platform, today announced financial results for the quarter ended September 30, 2025. Third Quarter 2025 Financial Highlights "EverCommerce's third quarter Revenue results were in line with our guidance range and the Adjusted EBITDA results exceeded the top end of our guidance range, with continued execution agai ...

Revenue Performance - Total revenue for Q3 2025 was $19.9 million, a decrease of 1% compared to the same period in the prior year[5] - Total revenue for Q3 2025 was $19.906 million, a decrease of 1.2% from $20.157 million in Q3 2024[32] - The company raised its full year 2025 revenue guidance to $76.0 million to $78.0 million, representing a 2% to 5% decline compared to 2024 revenue[14] Expense Management - Total operating expenses were reduced to $25.1 million, an 11% decrease from $28.1 million in the same period last year[11] - Adjusted operating expenses decreased by 17% to $19.8 million from $23.8 million in the prior year[12] - Adjusted operating expenses guidance for full year 2025 was reduced to $90 million to $92 million, a decrease of 9% to 11% compared to 2024[15] - Selling, general and administrative expenses decreased to $21.750 million in Q3 2025 from $23.390 million in Q3 2024, a decline of 7.0%[32] - Research and development expenses for Q3 2025 were $3.352 million, down from $4.746 million in Q3 2024, reflecting a 29.4% reduction[32] Profitability - Gross profit for Q3 2025 was $17.197 million, compared to $16.907 million in Q3 2024, resulting in a gross margin of 86.4%, up from 83.9% year-over-year[34] - Net loss for Q3 2025 was $8.169 million, an improvement from a net loss of $11.066 million in Q3 2024[32] Customer Metrics - Surgical Glaucoma revenue increased by 6% to $19.7 million, while Dry Eye revenue decreased by 88% to $0.2 million due to a focus on achieving reimbursed market access[9] - Surgical Glaucoma active customers increased to 1,197 in Q3 2025 from 1,107 in Q3 2024, representing an 8.1% growth[39] - Dry Eye active customers dropped to 50 in Q3 2025 from 296 in Q3 2024, a significant decline of 83.1%[39] - Surgical Glaucoma ordering accounts reached an all-time high of 1,197, an 8% increase compared to Q3 2024[5] Financial Position - Cash and cash equivalents totaled $92.4 million as of September 30, 2025, down from $101.5 million as of June 30, 2025[13] - Total current assets decreased to $113.595 million as of September 30, 2025, from $139.774 million at December 31, 2024, a decline of 18.7%[31] - Total liabilities decreased to $51.966 million as of September 30, 2025, down from $55.316 million at December 31, 2024, a reduction of 6.1%[31] - Total stockholders' equity decreased to $64.290 million as of September 30, 2025, compared to $87.523 million at December 31, 2024, a decline of 26.6%[31] Restructuring and Costs - The company incurred $2.8 million in restructuring costs associated with workforce reductions announced in August 2025[11] - The company expects tariff exposure to increase costs by $1.0 million to $1.5 million for the full year 2025[16]

Karat Packaging Reports 2025 Third Quarter Financial Results CHINO, Calif, November 6, 2025 – Karat Packaging Inc. (Nasdaq: KRT) ("Karat" or the "Company"), a specialty distributor and manufacturer of environmentally friendly, disposable foodservice products and related items, today announced financial results for its 2025 third quarter ended September 30, 2025. Third Quarter 2025 Highlights Guidance "Despite ongoing trade uncertainty, we delivered another quarter of record sales, driven by strong volume gr ...

amprius Exhibit 99.1 LETTER TO SHAREHOLDERS Q3 2025 T Letter to Shareholders November 2025 Fellow Shareholders, n the third quarter. Amprius generated a record $21.4 million in revenue, up 42% from the second quarter and 173% from the prior year period. We also shipped batteries to 159 end customers, bringing our total customer count to 444. We continue to innovate and are excited to share our updates from the quarter. Company Overview Amprius is a pioneer and a leader in the silicon anode battery space. At ...