Financial Performance - First-quarter 2025 net sales were $698.0 million, a 0.4% increase compared to $695.4 million in the same period last year[5][17]. - Adjusted-diluted EPS for the first quarter was $1.45, down from $1.56 in the prior year, while reported-diluted EPS was $1.23 compared to $1.55[5][17]. - The company raised its full-year 2025 net sales guidance to a range of $2.945 billion to $2.975 billion, up from the previous range of $2.875 billion to $2.905 billion[5][10]. - Full-year 2025 adjusted-diluted EPS guidance was increased to a range of $6.15 to $6.35, up from $6.00 to $6.20, incorporating estimated tariff costs of $20 to $25 million[5][10]. - The guidance for reported diluted EPS for 2025 is projected between $5.86 and $6.06, reflecting a decrease of 12.4% to 9.4% compared to 2024[23]. Cash Flow and Profitability - Operating cash flow for the first quarter was $129.4 million, reflecting a 9.5% increase, while free cash flow rose to $58.1 million from $27.6 million in the prior year[8]. - The company reported an operating profit of $107.0 million for Q1 2025, adjusted to $125.0 million after accounting for restructuring and other charges[20]. - Operating cash flow for Q1 2025 was $129.4 million, up from $118.2 million in Q1 2024, demonstrating improved cash generation[26]. - Free cash flow increased to $58.1 million in Q1 2025, compared to $27.6 million in the same period last year, highlighting enhanced financial flexibility[26]. Segment Performance - Proprietary Products segment net sales grew by 0.6% to $563.0 million, with organic net sales growth of 2.4% driven by demand for self-injection device platforms[4][19]. - Contract-Manufactured Products segment net sales declined by 0.7% to $135.0 million, although organic net sales grew by 0.8%[7][19]. Shareholder Actions - The company repurchased 550,281 shares for $133.5 million at an average price of $242.63 during the first quarter[9]. Expenses and Charges - The company recorded $17.8 million in restructuring charges during Q1 2025, primarily related to severance and depreciation costs[20]. - Capital expenditures for the first quarter were $71.3 million, a decrease of 21.3% compared to the same period last year[8]. Balance Sheet and Inventory - The company’s total debt remained stable at $202.6 million as of March 31, 2025, with equity slightly increasing to $2,683.1 million[28]. - Cash and cash equivalents decreased to $404.2 million as of March 31, 2025, down from $484.6 million at the end of 2024[28]. - Inventories increased to $388.7 million as of March 31, 2025, compared to $377.0 million at the end of 2024, indicating potential growth in production or sales[28]. Profit Margins - The gross profit margin for the first quarter was 33.2%, slightly up from 33.1% in the same period last year[19].

Financial Performance - Net income applicable to common stockholders for Q1 2025 was $220.4 million, or $1.30 per diluted share, compared to $210.1 million, or $1.23 per diluted share in Q1 2024, representing a 5.6% increase in earnings per share [3]. - Total revenue for Q1 2025 was $704.8 million, with net interest income of $612.2 million, up from $567.7 million in Q1 2024, indicating an increase of 7.7% [5][9]. - Non-interest income totaled $92.6 million, a decrease of $6.8 million from $99.4 million in Q1 2024, primarily due to credit valuation adjustments [8]. - Net income for the three months ended September 30, 2025, was $226,917 thousand, an increase from $177,766 thousand in the previous quarter [33]. - Earnings per common share (diluted) rose to $1.30, compared to $1.01 in the prior quarter, reflecting a significant increase of 28.7% [33]. - Adjusted net income for Q1 2025 was $229,486,000, up from $181,251,000 in Q4 2024, representing a 26.6% increase [44]. Loan and Deposit Growth - Period end loans and leases balance reached $53.1 billion, an increase of $0.6 billion, or 1.0% from the prior quarter, while deposits increased by $0.8 billion, or 1.3%, to $65.6 billion [5][13]. - Total loans and leases increased to $53,056,223 thousand, compared to $52,505,168 thousand in the previous quarter, marking a growth of 1.04% [35]. - Total deposits increased to $64,966,959 thousand in Q1 2025, compared to $60,565,366 thousand in Q1 2024, showing a growth of 7.9% [38]. - Total deposits rose by 3.3% to $27.8 billion, compared to $26.9 billion in Q1 2024 [23]. - Core deposits amounted to $58,052,837,000 in Q1 2025, up from $56,518,126,000 in Q4 2024, representing a growth of 2.7% [47]. Credit Quality and Loss Provisions - The provision for credit losses was $77.5 million, contributing to a $23.8 million increase in the allowance for credit losses on loans and leases from the prior quarter [9]. - Total non-performing loans and leases increased to $564.4 million, representing 1.06% of total loans and leases, compared to 0.88% at December 31, 2024 [17]. - Provision for credit losses increased to $77,500,000 in Q1 2025, up from $45,500,000 in Q1 2024, indicating a rise of 70.5% [36]. - Non-performing assets rose to $564,708 thousand, up from $461,751 thousand in the previous quarter, indicating a deterioration in asset quality [33]. Operational Efficiency - The efficiency ratio was 45.79%, compared to 44.80% in the previous quarter, indicating a slight decline in operational efficiency [33]. - Non-interest expense increased by $2.5 million to $122.7 million, driven by higher investments in technology and professional services [23]. - The company is focused on expanding its market presence and enhancing technology investments to improve operational efficiency [24]. - Efficiency ratio improved to 45.79% in Q1 2025 from 44.80% in Q4 2024, indicating better cost management [44]. Asset Growth - Webster's total assets exceed $80 billion, indicating a strong financial position within the commercial banking sector [24]. - Total assets reached $80,279,750 thousand, an increase from $79,025,073 thousand in the previous quarter [35]. - Total interest-earning assets increased to $72,854,574 thousand in Q1 2025, up from $68,740,440 thousand in Q1 2024, reflecting a growth of 3.1% [38]. Interest Income and Margin - Total interest income for Q1 2025 was $973,487,000, an increase of 2.7% from $951,850,000 in Q1 2024 [36]. - Net interest income for Q1 2025 was $612,192 thousand, compared to $567,739 thousand in Q1 2024, representing an increase of 7.8% [38]. - The net interest margin for the quarter was reported at 3.48%, slightly up from 3.44% in the previous quarter [33]. - The average yield on loans and leases decreased to 5.84% in Q1 2025 from 6.24% in Q1 2024 [38].

Financial Performance - Net income for Q1 2025 was $33.4 million, or $0.87 per diluted share, compared to $33.1 million, or $0.86 per diluted share in Q4 2024[1] - Net income for Q1 2025 was $33,401,000, representing a slight increase of 1.0% from $33,065,000 in Q4 2024[16] - Diluted earnings per share for Q1 2025 rose to $0.87, up from $0.86 in Q4 2024, indicating a growth of 1.2%[16] Asset and Loan Growth - Total portfolio loans increased by $93.4 million, or 4.89% annualized, compared to December 31, 2024[3] - Total assets increased to $9,718,276,000 in Q1 2025, compared to $9,657,972,000 in Q4 2024, marking a growth of 0.6%[17] - Total deposits rose by $109.8 million, or 5.72% annualized, with customer deposit growth of $134.7 million, or 7.23% annualized[7] - Total deposits reached $7,892,933,000 in Q1 2025, an increase of 1.4% from $7,783,117,000 in Q4 2024[17] - Average interest-earning assets rose to $8,899,485 thousand in Q1 2025, compared to $8,860,338 thousand in Q4 2024[22] Profitability Ratios - Return on average assets (ROA) was 1.41%, return on average equity (ROE) was 9.67%, and return on average tangible equity (ROTE) was 13.29%, showing slight improvements from Q4 2024[3] - The return on average assets for Q1 2025 was 1.41%, up from 1.37% in Q4 2024, reflecting improved asset efficiency[16] - Return on average tangible shareholders' equity (non-GAAP) was 13.29% in Q1 2025, slightly up from 13.25% in Q4 2024[20] Nonperforming Assets and Credit Quality - Nonperforming assets decreased by $5.5 million to $22.4 million, or 0.29% of total loans plus other real estate owned (OREO)[3] - Total nonperforming assets decreased to $22,368 thousand in Q1 2025 from $27,945 thousand in Q4 2024, a reduction of 20.1%[19] - Total nonaccrual loans decreased to $22,339 thousand in Q1 2025 from $27,937 thousand in Q4 2024, representing a decline of 20.5%[19] - The allowance for credit losses (ACL) was $99.0 million, or 1.26% of total portfolio loans, down from 1.31% at the end of Q4 2024[5] - Allowance for credit losses to total portfolio loans was 1.26% in Q1 2025, down from 1.31% in Q4 2024[19] - Net loan charge-offs were ($27) thousand in Q1 2025, a significant improvement compared to ($58) thousand in Q4 2024[19] Income and Expense Analysis - Total interest and dividend income for Q1 2025 was $124,848,000, a decrease of 2.4% from Q4 2024's $127,879,000[16] - Net interest income after provision for credit losses increased to $86,363,000 in Q1 2025, compared to $85,720,000 in Q4 2024, reflecting a growth of 0.8%[16] - Total noninterest income decreased to $10,429,000 in Q1 2025, down 6.0% from $11,071,000 in Q4 2024[16] - Noninterest income decreased by $0.7 million to $10.4 million due to seasonally slower customer activity[6] Capital Position - The company maintains a strong regulatory capital position with all capital ratios above the well-capitalized thresholds[8] - Shareholders' equity as a percentage of total assets improved to 14.59% in Q1 2025, compared to 14.29% in Q4 2024, demonstrating stronger capital position[17] Efficiency Metrics - The efficiency ratio (FTE) for Q1 2025 was 56.99%, slightly higher than 56.93% in Q4 2024, indicating a marginal increase in operational costs relative to income[16] - Efficiency ratio (non-GAAP) was 56.99% in Q1 2025, slightly higher than 56.93% in Q4 2024[20] Interest Margin - Net interest margin (NIM) on a fully taxable equivalent basis increased by 4 basis points to 3.81% compared to 3.77% in Q4 2024[4] - Net interest margin (FTE) improved to 3.81% in Q1 2025 compared to 3.77% in Q4 2024[22] Tangible Book Value - Tangible book value increased to $27.24 in Q1 2025, up from $26.25 in Q4 2024, reflecting a growth of 3.8%[20]

Financial Performance - Sales for Q1 2025 were $204.6 million, an increase of $6.7 million or 3.4% from $197.9 million in Q1 2024[4] - Adjusted EBITDA for Q1 2025 was $12.3 million, representing 6.0% of sales, up from $6.1 million or 3.1% of sales in Q1 2024[4] - The net loss for Q1 2025 was $1.4 million, or ($0.04) per share, compared to a loss of $4.7 million, or ($0.14) per share in Q1 2024[4] - Adjusted net income for Q1 2025 was $2.4 million, or $0.07 per share, compared to a loss of $1.4 million, or ($0.04) per share in Q1 2024[4] - Gross profit increased to $40,302,000 in Q1 2025, up from $34,062,000 in Q1 2024, reflecting a gross margin improvement[17] - The net loss for Q1 2025 was $1,436,000, a significant reduction from a net loss of $4,669,000 in Q1 2024, indicating improved financial performance[17] - Basic loss per share improved to $(0.04) in Q1 2025 from $(0.14) in Q1 2024, reflecting better operational efficiency[17] Backlog and Future Sales - Consolidated backlog as of March 31, 2025, was $335.3 million, down $104.1 million or 23.7% from $439.4 million as of March 31, 2024[4] - The company reported a total backlog of $335,334,000 as of March 31, 2025, compared to $313,244,000 at the end of Q1 2024, indicating growth in future sales potential[25] - The company expects full-year 2025 sales to be between $870 million and $970 million, with adjusted EBITDA projected at $62 million to $72 million[5] Operational Efficiency and Investment - The company is focused on operational efficiency and commercial growth initiatives to capture market share[3] - The company incurred $3,887,000 in research and development expenses in Q1 2025, up from $3,719,000 in Q1 2024, highlighting ongoing investment in innovation[17] - Total operating expenses increased to $38,553,000 in Q1 2025 from $35,992,000 in Q1 2024, primarily driven by higher selling, general, and administrative costs[17] Cash Flow and Financing - Cash flows from operating activities resulted in a net cash used of $4,519,000 in Q1 2025, compared to $3,957,000 in Q1 2024[37] - The company generated $9,874,000 in net cash from financing activities in Q1 2025, down from $12,895,000 in Q1 2024, indicating a shift in financing strategy[19] Strategic Developments - The merger with Aebi Schmidt is on track to close by mid-2025, which is expected to enhance scale and product offerings[4] - Blue Arc sales in Q1 2025 were $26.3 million[4]

Financial Performance - The company recorded net losses of US$41.3 million in 2022, but generated net profits of US$25.3 million and US$21.4 million in 2023 and 2024, respectively[31]. - Revenue increased from US$558.2 million in 2022 to US$686.4 million in 2023, and is projected to reach US$778.3 million in 2024[31]. - The company recorded net foreign exchange losses of $21.9 million, $5.0 million, and $19.7 million in 2022, 2023, and 2024 respectively, indicating exposure to currency fluctuations[63]. - The company generated net cash from operating activities of US$68.3 million, US$114.0 million, and US$119.7 million in 2022, 2023, and 2024 respectively[117]. - The company recorded net impairment losses of US$7.8 million for property, plant, and equipment due to uncertain future prospects in 2022, but in 2023 and 2024, it reversed impairment losses of US$7.6 million and US$47 thousand respectively[114]. - As of December 31, 2024, the company's total indebtedness was US$212.6 million, primarily consisting of lease liabilities[121]. Restaurant Expansion - The number of restaurants expanded from 94 as of January 1, 2022, to 122 as of December 31, 2024[49]. - The company operates 122 restaurants across 14 countries as of December 31, 2024, and continues to invest significantly in international expansion[107]. - The company plans to continue expanding its restaurant network internationally, which may increase risks and uncertainties[49]. - The company faces significant risks in opening new restaurants, which could adversely affect growth and financial results if new locations are less profitable than existing ones[51]. - The breakeven for new restaurants opened in 2022, 2023, and 2024 was generally within six months[201]. Competition and Market Risks - The company faces intense competition in the international catering market, particularly in the hot pot segment[30]. - Intense competition in the catering service industry could hinder the company's ability to sustain revenues and profitability, especially in new markets[54]. - The company’s ability to attract and retain customers is critical, with potential impacts from changing consumer preferences and dining trends[41]. - Rising labor costs and minimum wage increases in various jurisdictions may adversely affect the company's profit margins and operating results[113]. - The company faces risks related to food ingredient cost volatility, which could impact profitability if menu prices do not adjust accordingly[110]. Operational Challenges - The company’s management system may face challenges in effectively managing operations across multiple jurisdictions as it continues to grow[37]. - Labor costs are increasing, and the company may struggle to attract and retain qualified employees across various geographical locations, impacting service quality[52]. - Food safety incidents and food-borne illnesses pose significant risks that could adversely affect the company's reputation and financial performance[46]. - The company relies on third-party logistics for food ingredient delivery, which poses risks of delays and contamination that could adversely affect operations[62]. - The company may need to close underperforming restaurants, which could materially impact overall business performance and financial results[60]. Marketing and Customer Engagement - The company invests significantly in marketing to attract guests, but competition may limit the effectiveness of these efforts, impacting financial performance[57]. - The guest loyalty program had approximately 6.31 million members as of December 31, 2024, up from 1.87 million on January 1, 2022[196]. - Haidilao aims to enhance brand awareness and promote Chinese culinary culture through innovative online marketing campaigns[208]. - The company plans to capitalize on off-peak hours by offering special discounts and menu items to improve overall restaurant performance[215]. Product and Service Innovation - The company launched the "Pomegranate plan" in 2024 to diversify its business offerings, including barbecue and specialty hot pot, but faces challenges in market competition and brand positioning[53]. - The company launched new products in 2024, including "Haidilao Beef" in Southeast Asia and "Pork Tripe and Pepper Soup Base" in South Asia, with a click-through rate of over 15% for three consecutive months in Japan[225]. - The menu typically offers 110 to 180 types of food ingredients, including Haidilao signature dishes and localized items, depending on restaurant size and ingredient availability[217]. - The company features localized soup bases, such as tom yum in Southeast Asia and miso in Japan, to cater to local tastes[220]. - The company provides personalized services for first-time local guests, including suggested cooking times for hot pot ingredients[214]. Regulatory and Compliance Issues - Compliance with regulatory requirements is critical; failure to obtain necessary licenses and permits could result in fines and operational disruptions[94]. - The company is subject to anti-corruption and anti-bribery laws, and non-compliance could adversely affect its business and reputation[104]. Corporate Governance and Shareholder Rights - The largest shareholder, Mr. Yong Zhang, controls 45.37% of the outstanding shares, which may influence corporate decisions and affect other shareholders' interests[133]. - The company is incorporated in the Cayman Islands, which may limit shareholders' ability to protect their rights through U.S. courts due to the majority of operations and assets being outside the U.S.[149]. - Corporate governance practices in the Cayman Islands differ significantly from those in the U.S., potentially affording shareholders less protection[151]. - The deposit agreement governing the ADSs includes a waiver of the right to a jury trial, which may lead to less favorable outcomes for plaintiffs in legal actions[153]. Economic and Environmental Factors - Macroeconomic factors, including changes in consumer spending patterns, may materially affect the company's financial conditions and results of operations[96]. - Health epidemics and natural disasters pose significant risks that could disrupt operations and adversely impact business performance[99]. - Rising interest rates could increase borrowing costs, negatively impacting the company's ability to finance restaurant expansions and acquisitions[65].

Financial Performance - Net income available to common stockholders for Q1 2025 was $18.7 million, compared to $18.9 million in Q4 2024 and $15.7 million in Q1 2024, reflecting a year-over-year increase of 18.9%[2] - Diluted earnings per share for Q1 2025 were $0.49, unchanged from Q4 2024 and up from $0.41 in Q1 2024[2] - Operating net income for Q1 2025 was $19.7 million, down from $20.2 million in Q4 2024 but up from $15.9 million in Q1 2024[3] - Net income for Q1 2025 was $20,242, representing a 17.7% increase from $17,205 in Q1 2024[24] - Net income for Q1 2025 was $20,242,000, slightly down from $20,371,000 in Q4 2024, a decrease of 0.6%[28] - Operating net income available to common stockholders was $19,710,000 in Q1 2025, compared to $20,220,000 in Q4 2024, a decline of 2.5%[30] Interest Income and Margin - Fully taxable equivalent net interest income for Q1 2025 was $65.8 million, an increase of $1.0 million or 1.6% from Q4 2024, and up $5.5 million or 9.0% from Q1 2024[7][9] - Net interest income for Q1 2025 was $65,756, an increase of 8.1% compared to $60,300 in Q1 2024[24] - Net interest income for Q1 2025 was $65,756,000, an increase of 1.6% from $64,711,000 in Q4 2024[28] - The net interest margin widened by 7 basis points to 2.93% in Q1 2025, driven by a decrease in average costs of deposits[7] - Net interest margin (GAAP) increased to 2.93% in Q1 2025, up from 2.86% in Q4 2024[30] - The net interest spread improved to 2.17%, up from 2.05% in the prior period[35] Noninterest Income and Expenses - Noninterest income increased to $4.5 million in Q1 2025, compared to $3.7 million in Q4 2024 and $3.8 million in Q1 2024[10] - Noninterest income increased to $4,451 in Q1 2025, up from $3,848 in Q1 2024, a growth of 15.7%[24] - Total noninterest expenses for Q1 2025 were $39,305, an increase of 6.0% from $37,065 in Q1 2024[24] - Noninterest expenses were $39.3 million in Q1 2025, up from $38.5 million in Q4 2024 and $37.1 million in Q1 2024, primarily due to increased merger expenses[11] - Total noninterest income increased to $4,451,000 in Q1 2025, up from $3,744,000 in Q4 2024, representing a growth of 18.9%[28] - Noninterest expenses rose to $39,305,000 in Q1 2025, compared to $38,498,000 in Q4 2024, reflecting an increase of 2.1%[28] Assets and Liabilities - Total assets decreased to $9.759 billion as of March 31, 2025, from $9.880 billion as of December 31, 2024[15] - Total assets as of March 31, 2025, were $9,759,255, a decrease of 1.2% from $9,879,600 on December 31, 2024[23] - Total deposits decreased to $7,767,230 as of March 31, 2025, down from $7,820,114 at the end of 2024, a decline of 0.7%[23] - Total deposits were $7,767,230 as of March 31, 2025, a slight decrease from $7,820,114 on December 31, 2024, reflecting a 0.7% decline[26] - Gross loans decreased to $8,206,343 as of March 31, 2025, down from $8,280,482 on December 31, 2024, representing a decline of 0.9%[26] - Borrowings decreased to $613,053 as of March 31, 2025, down from $688,064 on December 31, 2024, a decline of 10.9%[26] Credit Losses and Risk Ratios - The provision for credit losses was stable at $3.5 million for Q1 2025, consistent with Q4 2024 and down from $4.0 million in Q1 2024[13] - Provision for credit losses remained stable at $3,500 for both Q1 2025 and Q4 2024[24] - Net loan charge-offs for the quarter were $3,400 thousand, slightly up from $3,334 thousand in the previous quarter, indicating a 2% increase[32] - Nonaccrual loans decreased to $49,860 thousand from $57,310 thousand, a reduction of 13%[32] - The common equity Tier 1 risk-based ratio improved to 11.14% from 10.97% in the previous quarter, showing a positive trend in capital adequacy[32] Capital Position - The company maintains a strong capital position with total stockholders' equity of $1,252,939 as of March 31, 2025[23] - Total stockholders' equity increased to $1,252,939 as of March 31, 2025, compared to $1,241,704 on December 31, 2024, marking a growth of 0.9%[27] - Tangible common equity rose to $929,280 thousand, compared to $917,766 thousand in the previous quarter, reflecting a 0.6% increase[32] - Book value per share (GAAP) increased to $29.69 from $29.47, marking a rise of 0.7%[32] Future Plans - The Company plans to finalize its merger with The First of Long Island Corporation in Q2 2025, aiming to create a premier community bank in the New York Metro area[5]

Financial Performance - Net income available to common stockholders for Q1 2025 was $18.7 million, compared to $18.9 million in Q4 2024 and $15.7 million in Q1 2024, reflecting a year-over-year increase of 18.9%[2] - Diluted earnings per share for Q1 2025 were $0.49, unchanged from Q4 2024 and up from $0.41 in Q1 2024[2] - Operating net income for Q1 2025 was $19.7 million, down from $20.2 million in Q4 2024 but up from $15.9 million in Q1 2024[3] - Net income for the three months ended March 31, 2025, was $20,242, slightly down from $20,371 in the previous quarter, indicating a decrease of 0.6%[24] - Earnings per common share for the three months ended March 31, 2025, remained stable at $0.49, consistent with the previous quarter[24] - Operating net income available to common stockholders was $19,710,000 in Q1 2025, compared to $20,220,000 in Q4 2024, a decline of 2.5%[30] Interest Income and Margin - Fully taxable equivalent net interest income for Q1 2025 was $65.8 million, an increase of $1.0 million or 1.6% from Q4 2024, and up $5.5 million or 9.0% from Q1 2024[7][9] - Net interest income for the three months ended March 31, 2025, was $65,756, an increase of 2.4% compared to $64,711 for the previous quarter[24] - The net interest margin widened by 7 basis points to 2.93% in Q1 2025, driven by a decrease in average costs of deposits[7] - The net interest margin (GAAP) rose to 2.93% in Q1 2025, compared to 2.86% in Q4 2024[30] - The net interest spread improved to 2.17%, up from 2.05% year-over-year[35] Noninterest Income and Expenses - Noninterest income increased to $4.5 million in Q1 2025, compared to $3.7 million in Q4 2024 and $3.8 million in Q1 2024[10] - Noninterest income totaled $4,451,000 in Q1 2025, up from $3,744,000 in Q4 2024, reflecting a growth of 18.9%[28] - Noninterest expenses were $39.3 million in Q1 2025, up from $38.5 million in Q4 2024 and $37.1 million in Q1 2024, primarily due to increased merger expenses[11] - Total noninterest expenses rose to $39,305 for the three months ended March 31, 2025, compared to $38,498 in the previous quarter, an increase of 2.1%[24] Assets and Liabilities - Total assets as of March 31, 2025, were $9.759 billion, a decrease from $9.880 billion as of December 31, 2024[15] - Total assets as of March 31, 2025, were $9,759,255, a decrease of 1.2% from $9,879,600 on December 31, 2024[23] - Net loans receivable decreased to $8,118,731 as of March 31, 2025, from $8,192,125 on December 31, 2024, reflecting a decline of 0.9%[23] - Total deposits were $7,767,230 as of March 31, 2025, down from $7,820,114 on December 31, 2024, representing a decrease of 0.7%[23] - Total stockholders' equity of $1,252,939 as of March 31, 2025, up from $1,241,704 on December 31, 2024, representing an increase of 0.9%[23] Credit Quality - The provision for credit losses was $3.5 million for Q1 2025, consistent with Q4 2024 and down from $4.0 million in Q1 2024[13] - Net loan charge-offs for the quarter were $3,400,000, slightly up from $3,334,000 in the previous quarter, indicating a 2% increase[32] - Nonaccrual loans decreased to $49,860,000 from $57,310,000, a reduction of 13%[32] - The allowance for credit losses on loans stood at $82,403,000, consistent with the previous quarter's $82,685,000[32] Future Plans - The Company plans to finalize its merger with The First of Long Island Corporation in Q2 2025, aiming to create a premier community bank in the New York Metro area[5]

Financial Performance - Revenues for Q1 2025 decreased by $30.3 million, or 3.3%, to $898.3 million compared to Q1 2024[76] - Net income for Q1 2025 decreased by $18.1 million, or 22.7%, to $61.8 million compared to Q1 2024[80] - Adjusted EBITDA for Q1 2025 increased by $4.1 million, or 3.7%, to $115.2 million, with an Adjusted EBITDA Margin of 12.8%[81] - Total revenues for the three months ended March 31, 2025, were $898,282,000, a decrease of 3.2% from $928,553,000 in the same period of 2024[86] - Net income for the three months ended March 31, 2025, was $61,824,000, down 22.7% from $79,965,000 in the prior year[86] - Adjusted EBITDA for the three months ended March 31, 2025, increased to $115,164,000, compared to $111,073,000 in 2024, reflecting a growth of 3.5%[87] Cash Flow and Expenses - Free Cash Flow was an outflow of $483.0 million in Q1 2025, compared to an outflow of $279.5 million in Q1 2024[84] - Net cash used in operating activities increased by $190.4 million, or 69.3%, to $465.2 million in Q1 2025[83] - The company reported a net cash used in operating activities of $465,210,000 for the three months ended March 31, 2025, compared to $274,818,000 in 2024[89] - Unallocated corporate expenses decreased by $19.8 million, or 50.0%, to $19.8 million for the three months ended March 31, 2025, primarily due to a legal settlement gain[91] - Net cash used in investing activities was $17.8 million, a decrease of $38.4 million compared to net cash provided by investing activities of $20.6 million in the prior year[131] - Net cash used in financing activities increased by $230.9 million to $32.3 million, primarily due to $182.6 million in common stock repurchases[132] Segment Performance - The decrease in revenues was primarily due to lower performance in the Economic Consulting and Corporate Finance segments[77] - Revenues for the Corporate Finance segment decreased by $22.4 million, or 6.1%, to $343.6 million, primarily due to lower demand and realized bill rates for transformation & strategy and restructuring services[102] - Gross profit for the Corporate Finance segment decreased by $15.7 million, or 12.3%, with a gross profit margin decline of 2.3 percentage points to 32.6%[103] - Revenues for the Forensic and Litigation Consulting segment increased by $14.5 million, or 8.3%, to $190.6 million, driven by higher realized bill rates and increased demand for data & analytics services[106] - Gross profit for the Forensic and Litigation Consulting segment increased by $9.0 million, or 14.1%, with a gross profit margin of 38.1%[107] - Revenues for the Economic Consulting segment decreased by $24.7 million, or 12.1%, to $179.9 million, primarily due to lower demand for M&A-related services[110] - Gross profit for the Economic Consulting segment decreased by $3.7 million, or 8.2%, with a gross profit margin increase of 1.0 percentage points to 23.0%[111] - Revenues for the Technology segment decreased by $3.6 million, or 3.5%, to $97.2 million, primarily due to lower demand for M&A-related services[114] - Gross profit for the Technology segment decreased by $3.7 million, or 10.2%, with a gross profit margin decline of 2.5 percentage points to 33.9%[115] Employee Metrics - The total number of employees increased to 8,105 in Q1 2025 from 8,055 in Q1 2024[76] - The company experienced a net reduction in headcount of 269, or 3.2%, from December 31, 2024, to March 31, 2025[85] - The total number of billable professionals increased to 6,395, up from 6,366, reflecting a 0.5% increase year-over-year[1] - The number of billable professionals decreased by 4.5% to 937 compared to 981 in the prior year[118] Financial Obligations and Risks - Future contractual obligations include long-term obligations of $160.0 million related to outstanding borrowings under the Credit Facility as of March 31, 2025[141] - Current obligations under operating leases amount to $33.8 million, with non-current obligations totaling $201.2 million[141] - The company was contingently liable under bank guarantees totaling $13.1 million as of March 31, 2025, up from $10.9 million as of December 31, 2024[143] - Available amounts under guarantee facilities were $33.7 million as of March 31, 2025, compared to $31.8 million as of December 31, 2024[143] - Key risks include changes in demand for services, ability to recruit qualified professionals, and competition for clients and key personnel[146] - The company has no material changes in market risk exposure during the period covered by the report[148] - Future events could cause actual payments to differ from projected amounts due to various assumptions including interest rates[142] Forward-Looking Statements - The company emphasizes that forward-looking statements involve uncertainties and risks that could cause actual results to differ materially[144] - The company does not intend to publicly update or revise any forward-looking statements to reflect subsequent events or circumstances[147] - The company has guaranteed facilities totaling $46.8 million as of March 31, 2025[143] - The company anticipates additional capital expenditures of between $50 million and $60 million for the remainder of 2025, including costs related to new office space[138] - During the three months ended March 31, 2025, the company made $182.6 million in payments for common stock repurchases, with $264.3 million remaining available under the Repurchase Program[140]

Exhibit 99.1 Mobileye Releases First Quarter 2025 Results and Reaffirms Full-Year Outlook JERUSALEM – April 24, 2025 – Mobileye Global Inc. (Nasdaq: MBLY) ("Mobileye") today released its financial results for the three months ended March 29, 2025. "Based on strong revenue trends to-date and our own analysis of likely production impacts of the current tariff conditions (including the most recent third party forecasts), we continue to expect to deliver revenue and profitability within the guidance range. Whil ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 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: 0-49677 WEST BANCORPORATION, INC. (Exact Name of Registrant as Specified in its Charter) (State of Incorporation) (I.R.S. Employer ...