Financial Performance - Total net revenues for Q3 2025 were $1,321.8 million, a 9% increase from $1,215.6 million in Q3 2024[176]. - Pre-tax net income for the three months ended September 30, 2025, was $168.9 million, down from $563.0 million in 2024, with an income tax expense of $87.4 million[192]. - For the nine months ended September 30, 2025, the company generated pre-tax net income of $967.3 million, a decrease from $1.2 billion in the same period of 2024[210]. - Total net revenues for the nine months ended September 30, 2025, were $191.2 million, or 5%, higher than the same period in 2024, driven by oil, NGL, and natural gas sales[195]. Production and Sales - Oil production increased by 16% to 17,198 MBbls in Q3 2025, driven by new wells and acquisitions[177]. - NGL production rose by 23% to 9,736 MBbls, while natural gas production increased by 17% to 64,841 MMcf in Q3 2025[177]. - Net production volumes for oil, NGLs, and natural gas increased by 15%, 19%, and 14%, respectively, due to additional production from new wells[196]. - Average realized sales price for natural gas surged by 178% to $1.08 per Mcf in Q3 2025 compared to Q3 2024[178]. - Average realized sales prices for natural gas increased by 700% in the first nine months of 2025 compared to the same period in 2024, attributed to higher regional and national average index gas prices[197]. - Average realized sales prices for oil and NGLs decreased by 14% and 6%, respectively, due to lower NYMEX crude prices and lower Mont Belvieu spot prices[198]. Expenses and Costs - Lease operating expenses increased by $18.1 million to $191.3 million for the three months ended September 30, 2025, a 10% increase compared to the same period in 2024[180]. - Total operating expenses increased by $57.3 million, with lease operating expenses rising by 11% to $558.9 million[199]. - Severance and ad valorem taxes rose by $9.9 million to $101.5 million, with severance taxes increasing by $10.6 million due to higher NGL and natural gas revenues[181]. - Depreciation, depletion, and amortization (DD&A) expense increased by $73.3 million to $526.9 million, driven by higher production volumes[184]. - General and administrative expenses rose to $50.0 million from $43.8 million, with cash G&A per Boe decreasing by 9% to $0.86[186]. - Severance and ad valorem taxes increased by $23.6 million, with severance taxes rising primarily due to higher NGL and natural gas revenues[200]. - Depreciation, depletion, and amortization (DD&A) expense amounted to $1.5 billion, an increase of $217.3 million over the same period in 2024, driven by higher production volumes[202]. Shareholder Returns - During the nine months ended September 30, 2025, the company declared and paid dividends totaling $366.8 million[170]. - The company repurchased 4.4 million shares of Class A Common Stock and 2.0 million shares of Class C Common Stock for a total of $73.7 million[171]. - The company declared and paid quarterly base dividends totaling $0.45 per share of Class A Common Stock and distributions totaling $0.45 per share of Class C Common Stock, amounting to $366.8 million in total dividends and distributions for the nine months ended September 30, 2025[214]. Debt and Financing - The company redeemed all outstanding 3.25% senior unsecured convertible notes due 2028, resulting in the issuance of 30.6 million shares of Class A Common Stock[172]. - A loss on extinguishment of debt of $264.3 million was recorded, mainly related to the redemption of Convertible Senior Notes[188]. - The company has a total debt balance of $3.5 billion, consisting of senior notes with fixed interest rates, unaffected by interest rate movements[237]. - The company redeemed an aggregate principal amount of $175 million of its 2031 Senior Notes at a price equal to 109.875% of the principal amount during the nine months ended September 30, 2025[216]. Cash Flow and Investments - Cash flows from operating activities for the nine months ended September 30, 2025, were $2.7 billion, an increase of $162.8 million from the same period in 2024[218]. - Cash used in investing activities for the nine months ended September 30, 2025, was $2.1 billion, a decrease from $2.6 billion in the same period of 2024[218]. - Total development capital expenditures for the nine months ended September 30, 2025, were $1.5 billion, with expectations for total capital expenditures in 2025 to be between $1.92 billion and $2.02 billion[212]. Market Risks and Derivatives - The company’s primary market risk exposure is in the pricing for oil, NGL, and natural gas production, with potential revenue fluctuations of $323.1 million for each 10% change in oil prices per Bbl[230]. - The company utilized derivative instruments to mitigate price risk associated with anticipated production, allowing for increased certainty of cash flows for its drilling program[231]. - As of September 30, 2025, the net fair value of oil and gas derivative contracts outstanding increased to $200.342 million from $111.356 million as of December 31, 2024[235]. - A hypothetical 10% upward or downward shift in the NYMEX forward curve for crude oil would result in a $99.8 million change in fair value position[235]. - The company has no borrowings outstanding under its Credit Agreement as of September 30, 2025, and does not intend to enter into derivative hedge contracts for interest rate fluctuations[236]. Future Expectations - For the period October 2025 - December 2025, crude oil swaps volume is 5,244,000 Bbls at an average price of $70.99 per Bbl[234]. - Natural gas swaps for the same period show a volume of 15,180,000 MMBtu at an average price of $4.02 per MMBtu[235]. - The weighted average differential for crude oil basis differential swaps for October 2025 - December 2025 is $1.10 per Bbl[233]. - The company expects to maintain a consistent volume of natural gas swaps, with a projected volume of 12,880,000 MMBtu for October 2027 - December 2027[235]. - The weighted average price for natural gas swaps at the Waha Hub for October 2026 - December 2026 is $2.68 per MMBtu[235].

Financial Performance - Total revenue for Q3 2025 was $724.6 million, a 35% increase from Q3 2024[16] - Net loss for Q3 2025 was $277.8 million, compared to a net loss of $412.2 million in Q3 2024, showing an improvement[29] - Cash Generation was $108 million in Q3 2025, marking the sixth consecutive quarter of positive Cash Generation[10] - Total operating expenses for Q3 2025 were $720.9 million, up from $665.0 million in Q3 2024, reflecting an 8.3% increase[29] - The company reported a basic net income per share of $0.07 for Q3 2025, compared to a loss of $0.37 per share in Q3 2024[29] - Cash and cash equivalents rose to $709.1 million, compared to $575.0 million at the end of 2024, indicating a 23.2% increase[27] - Net cash used in operating activities for Q3 2025 was $121,523, a slight improvement from $156,156 in Q3 2024[32] - Net cash used in investing activities for Q3 2025 was $743,641, compared to $764,363 in Q3 2024, reflecting ongoing investments in solar energy systems[32] Subscriber Metrics - Subscriber Additions totaled 30,104 in Q3 2025, a 1% decrease from Q3 2024, while total Subscribers grew 13% year-over-year to 971,805[7] - Net Subscriber Value increased by 38% to $13,205 in Q3 2025 compared to $9,579 in Q3 2024[9] - Subscriber Value increased from $47,335 in Q3 2024 to $52,446 in Q3 2025, reflecting a growth of approximately 10.5%[44] - Total customers reached 1,015,910 in Q3 2024, projected to grow to 1,137,913 by Q3 2025[46] - The storage attachment rate improved from 60% in Q3 2024 to 70% in Q3 2025, showing a significant increase in customer adoption of storage solutions[46] Asset and Liability Management - Total assets increased to $22.2 billion as of September 30, 2025, up from $19.9 billion at the end of 2024, representing a 16.6% growth[27] - Total liabilities increased to $17.6 billion as of September 30, 2025, compared to $15.7 billion at the end of 2024, marking a 11.7% rise[27] - The company’s total stockholders' equity grew to $3.0 billion as of September 30, 2025, up from $2.6 billion at the end of 2024, indicating a 16.8% increase[27] Revenue Streams - Customer agreements and incentives revenue was $491.6 million in Q3 2025, up 21.1% from $405.9 million in Q3 2024[29] - Solar energy systems and product sales increased to $233.0 million in Q3 2025, a 77.6% increase from $131.3 million in Q3 2024[29] Future Projections - The company expects Aggregate Subscriber Value for Q4 2025 to be between $1.33 billion and $1.63 billion, indicating a 5% decline at the midpoint compared to Q4 2024[12] - Contracted Net Value Creation for the full-year 2025 is projected to be between $1.0 billion and $1.3 billion, representing 67% growth compared to 2024 at the midpoint[14] Environmental Impact - Positive Environmental Impact from Customers is estimated at millions of metric tons of avoided carbon emissions due to energy produced from the company's solar systems[87] Capital Management - Proceeds from issuance of non-recourse debt in Q3 2025 were $1,847,950, compared to $749,700 in Q3 2024, indicating strong capital raising efforts[32] - Deferred revenue increased to $55,370 in Q3 2025 from $32,013 in Q3 2024, suggesting growth in customer commitments[32] Cost Management - Aggregate Creation Costs are calculated as total operating expenses adjusted for certain items and capital expenditures, with specific items detailed in the Non-GAAP reconciliation table[67] - Creation Costs per Subscriber Addition are derived from Aggregate Creation Costs divided by Subscriber Additions[68]

Financial Performance - Total revenue for Q3 2025 was $32.86 million, a slight decrease from $33.10 million in Q3 2024, while total revenue for the nine months ended September 30, 2025, increased to $91.15 million from $85.64 million in the same period of 2024[220]. - Gross profit for Q3 2025 was $24.46 million, compared to $24.50 million in Q3 2024, with a gross profit margin of approximately 74.4%[220]. - The company reported a net income of $12.53 million in Q3 2025, a significant improvement compared to a net loss of $2.63 million in Q3 2024[220]. - Total revenue for the three months ended September 30, 2025, decreased by $0.2 million, or 1%, compared to the same period in 2024, totaling $32.86 million[225]. - Mortgage Suite revenue decreased by $3.8 million, or 18%, primarily due to a decrease in homeowner's insurance revenue and customer churn[230]. - Consumer Banking Suite revenue increased by $3.2 million, or 34%, driven by deployments of several large customers[230]. - Gross margin for the nine months ended September 30, 2025, improved to 73% from 71% in the same period in 2024, with gross profit increasing by $5.8 million, or 10%[239]. - Total revenue for the nine months ended September 30, 2025, increased by $5.5 million, or 6%, totaling $91.15 million compared to $85.64 million in 2024[237]. Operating Expenses - Operating expenses for Q3 2025 totaled $29.37 million, down from $35.78 million in Q3 2024, reflecting a strategic focus on cost management[220]. - Total operating expenses for the three months ended September 30, 2025, decreased by $6.4 million, or 18%, compared to the same period in 2024, totaling $29.37 million[228]. - Research and development expenses decreased to $8.52 million in Q3 2025 from $10.13 million in Q3 2024, indicating a shift in investment strategy[220]. - Research and development expenses decreased by $1.6 million, or 16%, for the three months ended September 30, 2025, primarily due to a decrease in personnel-related expenses[229]. - General and administrative expenses increased by $2.5 million, or 7%, for the nine months ended September 30, 2025, primarily due to an increase in stock-based compensation[244]. - The company anticipates a slight decrease in operating expenses for 2025 compared to 2024, reflecting ongoing cost efficiency measures[210]. Cash Flow and Financial Position - As of September 30, 2025, the company had cash, cash equivalents, and marketable securities totaling $77.3 million[250]. - The accumulated deficit was $1,388.3 million as of September 30, 2025, indicating significant losses from operations[251]. - Net cash provided by operating activities for the nine months ended September 30, 2025, was $12.1 million, compared to a net cash used of $5.0 million in the same period of 2024[259]. - Net cash used in investing activities during the nine months ended September 30, 2025, was $20.0 million, primarily due to the purchase of marketable securities[260]. - Net cash used in financing activities for the nine months ended September 30, 2025, was $15.0 million, mainly for tax payments related to equity awards and share repurchases[262]. - The company believes current cash and marketable securities will be sufficient to fund operations for at least the next 12 months[255]. Strategic Initiatives - The company plans to exit its title operations, with a definitive agreement to sell the title insurance business expected to close later in the fiscal year[200]. - A strategic shift towards a platform-first model is underway, aiming to enhance the partner ecosystem and drive revenue growth[201]. - The shift from subscription arrangements to prepaid multi-year usage-based arrangements is noted, indicating a change in customer contract preferences[205]. Other Financial Metrics - Other income (expense), net increased by $6.7 million, or 63%, for the three months ended September 30, 2025, totaling $17.35 million[234]. - Restructuring expenses decreased by $4.6 million, or 98%, for the three months ended September 30, 2025, reflecting a smaller workforce reduction plan compared to 2024[233]. - Restructuring expenses decreased by $4.9 million, or 85%, for the nine months ended September 30, 2025, compared to the same period in 2024[245]. - Interest expense decreased by $6.7 million, or 100%, for the nine months ended September 30, 2025, primarily due to the repayment of $146.1 million under the Credit Agreement[246]. - Other income (expense), net increased by $7.6 million, or 64%, for the nine months ended September 30, 2025, primarily due to a $16.6 million gain on investment in non-marketable equity securities[247]. Share Repurchase Program - The share repurchase program authorized up to $25 million, with $15.8 million remaining available for future repurchases as of September 30, 2025[252].

Financial Performance - Total GAAP revenues decreased by 7.1% to $180.2 million from $194.0 million in Q3 2024[8] - Consolidated comparable sales decreased by 5.9%[8] - GAAP net loss attributable to The ONE Group increased to $76.7 million from $9.3 million, primarily due to a $64.0 million increase in income tax expense[8] - Adjusted EBITDA decreased to $10.6 million from $14.9 million[8] - Total revenues for the three months ended September 28, 2025, were $180.2 million, a decrease of 7.9% compared to $194.0 million for the same period in 2024[30] - Owned restaurant net revenue was $177.4 million for the three months ended September 28, 2025, down from $190.6 million in the prior year, representing a decline of 6.9%[30] - The net loss attributable to The ONE Group Hospitality, Inc. for the three months ended September 28, 2025, was $76.7 million, compared to a net loss of $9.3 million for the same period in 2024[30] - Total GAAP revenues for the nine months ended September 28, 2025, were $598,708,000, compared to $451,464,000 for the same period in 2024, marking an increase of 32.6%[36] Operational Changes - The company plans to open five to seven new venues in 2025[7] - The company completed the closure of six underperforming Grill locations and plans to convert up to nine additional units by the end of 2026[4] - A non-cash loss on impairment of $3.4 million was recorded during Q3 2025, primarily related to underperforming restaurants[13] - Cash and cash equivalents decreased to $5.5 million as of September 28, 2025, from $27.6 million at December 31, 2024[34] - Total current assets decreased to $46.5 million as of September 28, 2025, compared to $69.3 million at December 31, 2024[34] - Total liabilities increased slightly to $762.6 million as of September 28, 2025, from $758.7 million at December 31, 2024[34] Sales and Revenue Trends - The company expects total GAAP revenues for 2025 to be between $820 million and $825 million, with consolidated comparable sales projected to decline by 3% to 2%[16] - Same Store Sales for US STK Owned Restaurants decreased by 8.3% year-to-date compared to 2023, with Q3 showing a decline of 11.4%[36] - The company experienced a decrease in Same Store Sales for Grill Concepts Owned Restaurants, which fell by 13.2% year-to-date compared to 2023[36] Profitability Metrics - Operating loss for the nine months ended September 28, 2025, was $3.5 million, an improvement from an operating loss of $3.2 million for the same period in 2024[30] - Total owned operating expenses for the three months ended September 28, 2025, were $157.3 million, a decrease of 5.3% from $166.1 million in the same period of 2024[30] - The company reported a net loss per common share of $2.75 for the three months ended September 28, 2025, compared to a loss of $0.53 per share for the same period in 2024[30] - General and administrative expenses as a percentage of total revenues increased to 7.4% for the three months ended September 28, 2025, from 6.6% in the same period of 2024[32] Restaurant Performance - Restaurant Operating Profit for the nine months ended September 28, 2025, was $86,838,000, compared to $67,012,000 for the same period in 2024, indicating a year-over-year increase of 29.5%[41] - STK restaurant operating profit for Q3 2025 is $5,879,000, down from $6,547,000 in Q3 2024, representing a decrease of 10.2%[42] - Benihana restaurant operating profit for Q3 2025 is $13,928,000, a decrease of 18.0% compared to $17,110,000 in Q3 2024[42] - Core Grill Concepts restaurant operating profit for Q3 2025 is $131,000, significantly down from $1,416,000 in Q3 2024, a decline of 90.8%[42] - STK restaurant EBITDA for Q3 2025 is $5,790,000, a decrease of 7.4% from $6,250,000 in Q3 2024[42] - Benihana restaurant EBITDA for Q3 2025 is $14,364,000, down 18.5% from $17,679,000 in Q3 2024[42] - Core Grill Concepts restaurant EBITDA for Q3 2025 is $22,000, a decline of 98.5% compared to $1,479,000 in Q3 2024[42] - Restaurant EBITDA as a percentage of owned restaurant net revenue was 11.5% for the three months ended September 28, 2025, compared to 13.0% for the same period in 2024[41] - Non-core Grill Concepts restaurant operating profit for Q3 2025 is $(12,000), improving from $(783,000) in Q3 2024[42]

Revenue Performance - Revenue for Q3 2025 was $71.2 million, down from $82.7 million in Q3 2024, primarily due to no sales of aircraft or engines this quarter [3] - Excluding flight equipment sales, revenue increased by 18.5% year-over-year, from $60.1 million in Q3 2024 to $71.2 million in Q3 2025 [3] - Asset Management Solutions revenue decreased to $39.2 million in Q3 2025 from $50.4 million in Q3 2024, but increased by 40.9% year-over-year when excluding flight equipment sales [4] Profitability Metrics - Adjusted EBITDA for Q3 2025 was $9.5 million, compared to $8.2 million in Q3 2024, reflecting higher leasing revenue and lower operating expenses [13] - GAAP net loss for Q3 2025 was $0.1 million, compared to a net income of $0.5 million in the prior year period [11] - Gross margin improved to 30.2% in Q3 2025 from 28.6% in Q3 2024, driven by higher leasing revenue and cost control measures [8] Cost Management - Selling, general, and administrative expenses decreased to $18.6 million in Q3 2025 from $21.7 million in Q3 2024, reflecting cost reduction efforts [9] Liquidity and Assets - The company ended the quarter with liquidity of $58.9 million, consisting of $5.3 million in cash and $53.6 million available on its revolving credit facility [14] - Total current assets increased to $322,975 thousand as of September 30, 2025, up from $284,030 thousand as of December 31, 2024, representing a growth of 13.7% [26] Year-to-Date Performance - Net income for the nine months ended September 30, 2025, was $3,178 thousand, slightly up from $3,149 thousand in the same period of 2024, reflecting a growth of 0.9% [28] - Adjusted EBITDA for the nine months ended September 30, 2025, was $30,924 thousand, an increase of 51.6% compared to $20,386 thousand for the same period in 2024 [29] - Cash and cash equivalents at the end of the period were $5,267 thousand, a decrease from $9,787 thousand at the end of the same period in 2024, indicating a decline of 46.3% [28] - Total liabilities rose to $229,195 thousand as of September 30, 2025, compared to $149,103 thousand as of December 31, 2024, marking an increase of 53.7% [26] - Adjusted net income for the nine months ended September 30, 2025, was $8,297 thousand, up from $4,745 thousand in the same period of 2024, representing a growth of 74.5% [29] - The company reported a net cash used in operating activities of $34,333 thousand for the nine months ended September 30, 2025, compared to $26,354 thousand for the same period in 2024, indicating an increase of 30.4% [28] - Proceeds from the revolving credit facility amounted to $256,469 thousand for the nine months ended September 30, 2025, compared to $132,294 thousand in the same period of 2024, reflecting a growth of 93.8% [28] - The company’s total stockholders' equity decreased to $417,081 thousand as of September 30, 2025, down from $455,620 thousand as of December 31, 2024, a decline of 8.4% [26] - Reported diluted earnings per share for the nine months ended September 30, 2025, was $0.16, compared to $0.09 for the same period in 2024, representing an increase of 77.8% [29] Strategic Focus and Outlook - The company placed an additional 757 freighter aircraft on lease during Q3 2025, indicating a strategic focus on increasing lease assets [4] - AerSale focuses on providing integrated aftermarket services and products for airlines operating large jets from Boeing, Airbus, and McDonnell Douglas [32] - The company anticipates greater demand for its USM business and MRO services, indicating a positive outlook for future financial performance [30] - AerSale expects improvements in lease pool, feedstock, and commercial demand, which may enhance operational capacity and service demand [30] - The company is well positioned to capitalize on current market dynamics and asset availability, suggesting a strong growth trajectory [30] - AerSale's offerings include Aircraft & Component MRO, Aircraft and Engine Sales and Leasing, and Engineered Solutions like AerSafe™, AerTrak™, and AerAware™ [32] Risk Factors and Forward-Looking Statements - The company emphasizes the importance of liquidity sufficiency in its future operations and growth plans [30] - AerSale's actual results may differ from expectations due to various risks and uncertainties outlined in their SEC filings [30] - The company does not plan to publicly update or revise forward-looking statements unless required by law, indicating a cautious approach to future projections [31] - AerSale aims to help aircraft owners and operators achieve significant savings in operation, maintenance, and monetization of their assets [32] - The evolving environment may introduce new risk factors that could impact AerSale's business and financial condition [30]

Financial Performance - Net revenue for fiscal 2025 was $40 billion, an 11% increase from $35.9 billion in fiscal 2024, driven by growth in processed transactions and nominal payments volume [209]. - Net income for fiscal 2025 was $20.1 billion, a 2% increase from $19.7 billion in fiscal 2024 [209]. - Operating expenses rose 30% to $16 billion in fiscal 2025, primarily due to higher litigation provisions and personnel expenses [210]. - Non-GAAP net income for fiscal 2025 was $22.5 billion, an 11% increase from $20.4 billion in fiscal 2024 [209]. - The company repurchased 54 million shares of class A common stock for $18.2 billion during fiscal 2025, with remaining authorized funds of $24.9 billion in the share repurchase program [215]. - The estimated interchange reimbursement fees at issue in unresolved claims for damages in U.S. litigation decreased from approximately $49.6 billion as of October 1, 2023, to approximately $39.4 billion as of October 1, 2025 [215]. - The interchange related to unresolved claims is expected to continue increasing [217]. Transaction Volume and Payment Solutions - Visa processed a total of 329 billion payments and cash transactions in fiscal 2025, averaging 901 million transactions per day, with 258 billion transactions processed by Visa itself [18]. - Visa's total payments and cash volume reached $17 trillion in fiscal 2025, supported by nearly 5 billion payment credentials available at over 175 million merchant locations worldwide [19]. - Cross-border transaction volume continues to grow year-over-year, with Visa investing in enhancing its cross-border network and improving transaction performance [47]. - In fiscal 2025, Visa Direct processed over 12.5 billion transactions for more than 650 partners [60]. - The company aims to capture approximately $35 trillion in annual B2B payment flows through its Visa Commercial Solutions [54]. - Visa Direct targets an annual opportunity of approximately $55 trillion in P2P, B2C, and G2C money movement flows [55]. - The total addressable opportunity for Visa's Commercial & Money Movement Solutions is approximately $200 trillion annually, excluding Russia and China [54]. Technology and Innovation - The adoption of Tap to Pay technology has grown significantly, comprising 79% of all face-to-face transactions globally and 66% in the United States in fiscal 2025 [41]. - Visa has provisioned over 16 billion tokens as of September 30, 2025, enhancing security for digital transactions through its Visa Token Service [43]. - Visa's open banking platform, Tink, has expanded its capabilities to include A2A transactions and seller payments, enhancing consumer payment experiences [75]. - Visa launched Visa A2A in the UK in fiscal 2025, providing a streamlined bill payment experience with increased consumer protection [76]. - Visa's technology platforms ensure security and reliability, supported by four global data centers designed for continuous availability [83]. - Visa's cybersecurity program is designed around international standards such as ISO 27002 and PCI DSS, with annual training for all employees on Key Controls [186]. - The company has experienced increased cyber and payment fraud activity due to the rise in e-commerce and mobile payments, leading to more sophisticated attacks [173]. Market Strategy and Growth Opportunities - The company aims to capture an estimated $20 trillion annual opportunity in underserved consumer spend, focusing on cash, checks, and less effective digital payment forms [34]. - Visa's strategy includes accelerating revenue growth through consumer payments, commercial and money movement solutions, and value-added services [32]. - Visa's affluent consumer programs, including the Infinite brand, target high-spending cardholders, generating more revenue compared to average cardholders [49]. - The company is expanding its offerings in Tap to Everything use cases, with over 20 million Tap to Phone transacting devices activated in fiscal 2025 [42]. - Visa's network of networks strategy aims to unify the payments ecosystem, facilitating various types of payments including P2P, B2C, B2B, and G2C [19]. - Visa has signed over 20 clients for its Visa Flex Credential across more than 20 countries, enhancing consumer control over payment sources [51]. Regulatory Environment and Compliance - The company is subject to complex global regulations, including anti-corruption and anti-money laundering laws, which could impact operations and compliance costs [125]. - Regulatory scrutiny on interchange reimbursement fees and operating rules is increasing, potentially affecting Visa's transaction volumes and net revenue [127]. - The U.S. Federal Reserve has capped the maximum debit interchange reimbursement rate at 21 cents plus 5 basis points per transaction, impacting Visa's business [128]. - Visa's compliance programs are designed to adapt to evolving regulations, but failure to comply could result in penalties and damage to its reputation [126]. - The company is currently under examination by the U.S. Internal Revenue Service and other tax authorities, which may affect its cash flows and financial position [146]. Competition and Market Challenges - Intense competition in the global payments space is driven by evolving technology and consumer expectations, with new competitors emerging and existing clients developing their own services [149]. - Competitors may leverage better technology and financial resources, potentially offering more favorable pricing and innovative solutions that could harm the company's market position [150]. - The company faces intense competitive pressure on pricing from RTP networks and other payment facilitators, which may require adjustments to pricing or incentives to maintain growth [157]. - The company is exposed to significant risks from indemnifying clients for settlement losses, which could negatively impact liquidity and financial position [168]. - Rapid technological changes in the payments industry, including mobile payments and blockchain technologies, present both opportunities and risks for the company [170]. Workforce and Corporate Responsibility - Visa's workforce increased from approximately 31,600 in fiscal 2024 to approximately 34,100 employees in fiscal 2025, marking an 8% year-over-year growth [87]. - The voluntary workforce turnover rate was approximately 6% as of September 30, 2025, indicating employee retention [87]. - Visa's engagement with governments across over 200 countries aims to shape policies that expand access to digital payments [85]. - The company must adapt to evolving corporate responsibility and sustainability regulations, which could impact its reputation and financial results [166].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________ FORM 10-Q Maryland 27-5017321 (State or Other Jurisdiction of Incorporation or Organization) (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 814-00861 Fidus Investment C ...

Exhibit 99.1 Athira Pharma Reports Third Quarter 2025 Financial Results and Provides Business Update • Athira conducted the first-in-human Phase 1 (NCT 06432647) double-blind, placebo- controlled clinical trial that enrolled 80 healthy volunteers to evaluate single and multiple oral ascending doses of ATH-1105. The study was completed in November 2024 and evaluated the safety and tolerability of ATH-1105 and included measurements of pharmacokinetic outcomes. Corporate Updates Financial Results Continuing to ...

Sales Performance - Worldwide sales for Q3 2025 increased to $249.3 million, up from $244.0 million in Q3 2024, with international sales of $73.6 million compared to $72.3 million[5] - The company achieved record third quarter sales both in the U.S. and internationally, with over 20,000 pumps shipped in the U.S. and more than 9,000 pumps shipped internationally[6] - Total GAAP sales in the United States for Q3 2025 reached $175.631 million, a 2% increase from $171.650 million in Q3 2024[24] - Total sales outside the United States for Q3 2025 were $73.622 million, a 2% increase from $72.321 million in Q3 2024[24] - Total non-GAAP worldwide sales for the nine months ended September 30, 2025, were $724.353 million, reflecting a 10% increase compared to $657.555 million in the same period of 2024[26] Financial Performance - GAAP gross profit for Q3 2025 was $134.3 million, resulting in a gross margin of 54%, an improvement from 51% in Q3 2024[7] - GAAP gross profit for Q3 2025 was $134.292 million, up from $124.653 million in Q3 2024, resulting in a gross margin of 54%[26] - The operating loss for Q3 2025 was $22.9 million, or negative 9% of sales, compared to a loss of $26.1 million, or negative 11% of sales in Q3 2024[7] - The net loss for Q3 2025 was $21.2 million, an improvement from a net loss of $23.3 million in Q3 2024[7] - The company reported a GAAP net loss of $21.165 million for Q3 2025, compared to a net loss of $23.251 million in Q3 2024[26] - Non-GAAP operating loss for the nine months ended September 30, 2025, was $164.433 million, an increase from a loss of $97.900 million in the same period of 2024[26] - Non-GAAP net loss for the nine months ended September 30, 2025, was $173.003 million, compared to a loss of $96.135 million in the same period of 2024[26] Guidance and Estimates - The company reaffirmed its full-year 2025 sales guidance at approximately $1.0 billion, with U.S. sales expected to be around $700 million and international sales approximately $300 million[10] - Gross margin for the full year 2025 is estimated to be between 53% and 54% of sales[10] - Adjusted EBITDA margin for the full year is estimated to be approximately negative 5% of sales, revised from approximately 3%[10] - Non-cash charges included in cost of goods sold and operating expenses are estimated to be approximately $115 million for the full year 2025[10] Other Developments - The company received FDA clearance for the extended wear use of the SteadiSet Infusion Set and filed for Android mobile control of the Tandem Mobi insulin delivery system[6] - The company recorded $11.2 million in impairment charges related to restructuring costs in Q1 2025[27] - The Tandem Choice program concluded in 2024, with no impact on sales for this program in 2025[24] - Free cash flow for Q3 2025 was $4.172 million, down from $21.542 million in Q3 2024[26]

Financial Performance - Artivion reported third quarter 2025 revenue of $113.4 million, an increase of 18% on a GAAP basis and 16% on a non-GAAP constant currency basis compared to Q3 2024[6] - Net income for Q3 2025 was $6.5 million, or $0.13 per fully diluted share, compared to a net loss of $(2.3) million, or $(0.05) per fully diluted share in Q3 2024[8] - Adjusted EBITDA increased by 39% to $24.6 million in Q3 2025, up from $17.7 million in Q3 2024[6] - Total revenues for the three months ended September 30, 2025, increased to $113,388,000, up 18.4% from $95,779,000 in the same period of 2024[26] - Gross margin for the three months ended September 30, 2025, was $74,395,000, representing a 65.6% margin compared to $61,009,000 in 2024[26] - Operating income for the three months ended September 30, 2025, rose to $12,536,000, compared to $4,387,000 in 2024, marking a 185.5% increase[26] - Total product revenues for the nine months ended September 30, 2025, were $253.907 million, reflecting a 17% increase from $215.568 million in the same period of 2024[30] - Free cash flows for Q3 2025 amounted to $17.653 million, significantly higher than $7.816 million in Q3 2024[30] Revenue Breakdown - Stent grafts revenue grew by 38%, On-X by 25%, preservation services by 5%, and BioGlue by 2% year-over-year in Q3 2025[4] - Aortic stent grafts generated $39.585 million in Q3 2025, up 31% from $28.643 million in Q3 2024[28] - On-X product revenues increased by 23% to $26.797 million in Q3 2025, compared to $21.478 million in Q3 2024[28] - Preservation services revenues decreased by 5% to $71.431 million for the nine months ended September 30, 2025, compared to $75.661 million in the same period of 2024[30] Guidance and Projections - Artivion raised its full year 2025 revenue guidance to a range of $439 to $445 million, reflecting constant currency growth of 13% to 14%[9] - The company also raised its adjusted EBITDA guidance for 2025, now expecting growth of 24% to 28%, with adjusted EBITDA projected to be between $88 to $91 million[10] - Artivion aims to grow adjusted EBITDA at twice the rate of constant currency revenue growth, indicating strong operational momentum[7] Clinical and Operational Developments - Artivion enrolled the first patient in the ARTIZEN trial for Arcevo, marking a significant milestone in its clinical programs[6] - Positive clinical data from AMDS PERSEVERE and PROTECT trials were presented, validating the benefits of AMDS technology[5] Balance Sheet and Cash Flow - Cash and cash equivalents increased to $73,426,000 as of September 30, 2025, up from $53,463,000 at the end of 2024[22] - Total current assets reached $337,498,000 as of September 30, 2025, compared to $290,080,000 at the end of 2024, reflecting a 16.3% increase[22] - Total liabilities decreased to $418,968,000 as of September 30, 2025, down from $512,901,000 at the end of 2024[22] - Total assets increased to $857,662,000 as of September 30, 2025, from $789,101,000 at the end of 2024, representing an 8.7% growth[22] Expenses - Research and development expenses for the three months ended September 30, 2025, were $8,078,000, up from $6,605,000 in 2024, indicating a 22.3% increase[26] - General, administrative, and marketing expenses increased to $57.281 million in Q3 2025 from $50.017 million in Q3 2024[30] - The company reported a comprehensive income of $7,043,000 for the three months ended September 30, 2025, compared to $4,045,000 in 2024[26]