UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Form 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 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: 001-38335 Liberty Latin America Ltd. (Exact name of Registrant as specified in its charter) (State or Other Jurisdiction of Incorporation or Or ...

Exhibit 99.1 Akebia Therapeutics Reports Second Quarter 2025 Financial Results and Recent Business Highlights Continued Vafseo® (vadadustat) growth with Q2 2025 net product revenues increasing to $13.3 million; Total Q2 2025 net product revenues increased to $60.5 million DaVita physicians are expected to begin treating patients with Vafseo in August 2025 as part of an operational pilot at 100+ DaVita dialysis clinics Patient enrollment completed in VOICE, a collaborative clinical trial of Vafseo conducted ...

[Financial and Business Highlights](index=1&type=section&id=Financial_and_Business_Highlights) [Second Quarter 2025 Financial Highlights](index=1&type=section&id=Second_Quarter_2025_Financial_Highlights) Datadog reported strong financial results for the second quarter of 2025, with revenue growing 28% year-over-year to $827 million, generating significant cash flow while maintaining a non-GAAP operating margin of 20% Q2 2025 Key Financial Metrics | Metric | Q2 2025 | Year-over-Year Change | | :--- | :--- | :--- | | Revenue | $827 million | +28% | | GAAP Operating Loss | $(36) million | N/A (was $12.6M income) | | GAAP Operating Margin | (4)% | N/A (was 2%) | | Non-GAAP Operating Income | $164 million | +4% | | Non-GAAP Operating Margin | 20% | from 24% | | GAAP Net Income per Diluted Share | $0.01 | -92% | | Non-GAAP Net Income per Diluted Share | $0.46 | +7% | | Operating Cash Flow | $200 million | +22% | | Free Cash Flow | $165 million | +15% | - The company ended the quarter with approximately **3,850 customers** having an Annual Recurring Revenue (ARR) of **$100,000 or more**, a **14% increase** from about **3,390** in the prior year[3](index=3&type=chunk)[6](index=6&type=chunk) - As of June 30, 2025, cash, cash equivalents, and marketable securities totaled **$3.9 billion**[6](index=6&type=chunk) [Second Quarter & Recent Business Highlights](index=1&type=section&id=Second_Quarter_&_Recent_Business_Highlights) The company emphasized significant product innovation, unveiling over 125 new products and features at its DASH 2025 conference, particularly focusing on AI and security, while gaining industry recognition - At the DASH 2025 user conference, Datadog announced over **125 new innovations** for observing and securing cloud environments and AI tech stacks[3](index=3&type=chunk)[4](index=4&type=chunk) - New AI-powered product launches include: - **Bits AI Agents:** Interactive investigation and code-fixing agents for SRE, Dev, and Security teams - **AI Agent Monitoring & LLM Experiments:** Tools for end-to-end visibility and testing of AI agents - **Toto and BOOM:** An open-weights time series model and a new benchmark for observability metrics from Datadog AI Research[7](index=7&type=chunk) - Key business and strategic achievements include: - Named a Leader in the Gartner Magic Quadrant for Observability Platforms for the fifth consecutive year - Joined the S&P 500 Index - Advancing toward Federal Risk and Authorization Management Program (FedRAMP) High authorization[7](index=7&type=chunk) [Financial Outlook](index=4&type=section&id=Financial_Outlook) [Third Quarter 2025 Outlook](index=4&type=section&id=Third_Quarter_2025_Outlook) Datadog projects third-quarter 2025 revenue to be between $847 million and $851 million, with non-GAAP operating income between $176 million and $180 million, and non-GAAP net income per share between $0.44 and $0.46 Q3 2025 Guidance | Metric | Guidance Range | | :--- | :--- | | Revenue | $847 million - $851 million | | Non-GAAP Operating Income | $176 million - $180 million | | Non-GAAP Net Income per Share | $0.44 - $0.46 | [Full Year 2025 Outlook](index=4&type=section&id=Full_Year_2025_Outlook) For the full year 2025, the company anticipates revenue between $3.312 billion and $3.322 billion, with non-GAAP operating income between $684 million and $694 million, and non-GAAP net income per share projected at $1.80 to $1.83 Full Year 2025 Guidance | Metric | Guidance Range | | :--- | :--- | | Revenue | $3.312 billion - $3.322 billion | | Non-GAAP Operating Income | $684 million - $694 million | | Non-GAAP Net Income per Share | $1.80 - $1.83 | [Consolidated Financial Statements](index=9&type=section&id=Consolidated_Financial_Statements) [Condensed Consolidated Statements of Operations](index=9&type=section&id=Condensed_Consolidated_Statements_of_Operations) For Q2 2025, revenue increased to $826.8 million from $645.3 million in Q2 2024, but a significant rise in operating expenses led to a GAAP operating loss of $35.5 million and a net income decrease to $2.6 million Statement of Operations Summary (Three Months Ended June 30) | (In thousands) | 2025 | 2024 | % Change | | :--- | :--- | :--- | :--- | | Revenue | $826,760 | $645,279 | +28.1% | | Gross Profit | $660,782 | $521,780 | +26.6% | | Total Operating Expenses | $696,282 | $509,162 | +36.7% | | Operating (Loss) Income | $(35,500) | $12,618 | N/A | | Net Income | $2,647 | $43,824 | -94.0% | [Condensed Consolidated Balance Sheets](index=11&type=section&id=Condensed_Consolidated_Balance_Sheets) As of June 30, 2025, Datadog's balance sheet shows total assets of $5.82 billion, a decrease in total liabilities to $2.63 billion, and a growth in total stockholders' equity to $3.20 billion Balance Sheet Summary | (In thousands) | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Cash, cash equivalents, and marketable securities | $3,910,970 | $4,189,059 | | Total Assets | $5,822,415 | $5,785,339 | | Total Liabilities | $2,626,658 | $3,070,976 | | Total Stockholders' Equity | $3,195,757 | $2,714,363 | [Condensed Consolidated Statements of Cash Flow](index=12&type=section&id=Condensed_Consolidated_Statements_of_Cash_Flow) In Q2 2025, Datadog generated $200.1 million in net cash from operating activities, while net cash used in investing activities was $191.1 million and financing activities used $605.5 million, primarily due to convertible senior note repayment Cash Flow Summary (Three Months Ended June 30) | (In thousands) | 2025 | 2024 | | :--- | :--- | :--- | | Net cash provided by operating activities | $200,055 | $164,424 | | Net cash used in investing activities | $(191,067) | $(59,711) | | Net cash (used in) provided by financing activities | $(605,454) | $24,235 | | Net (Decrease) Increase in Cash | $(590,824) | $128,745 | [Reconciliation of GAAP to Non-GAAP Measures](index=13&type=section&id=Reconciliation_of_GAAP_to_Non-GAAP_Measures) This section provides a detailed reconciliation between GAAP and non-GAAP financial figures, adjusting GAAP operating loss for non-cash and non-recurring items to derive non-GAAP operating income and free cash flow Reconciliation of GAAP Operating Loss to Non-GAAP Operating Income (Q2 2025) | (In thousands) | Amount | | :--- | :--- | | **GAAP operating loss** | **$(35,500)** | | Plus: Stock-based compensation expense | $180,462 | | Plus: Amortization of acquired intangibles | $1,706 | | Plus: Employer payroll taxes on employee stock transactions | $16,067 | | Plus: M&A transaction costs | $1,373 | | **Non-GAAP operating income** | **$164,108** | Reconciliation to Free Cash Flow (Q2 2025) | (In thousands) | Amount | | :--- | :--- | | Net cash provided by operating activities | $200,055 | | Less: Purchases of property and equipment | $(15,152) | | Less: Capitalized software development costs | $(19,550) | | **Free cash flow** | **$165,353** | [Supplementary Information](index=5&type=section&id=Supplementary_Information) [Forward-Looking Statements and Risk Factors](index=5&type=section&id=Forward-Looking_Statements_and_Risk_Factors) This section contains standard legal disclaimers regarding forward-looking statements related to strategy, market opportunities, and financial outlook, cautioning that actual results may differ materially due to various risks and uncertainties - The press release contains forward-looking statements concerning strategy, product capabilities, market opportunities, and financial performance, which are based on current assumptions and subject to substantial risks[13](index=13&type=chunk) - Key risks cited include: rapid growth not being indicative of future growth, a history of operating losses, dependence on customer renewals and new customer attraction, security breach risks, and intense market competition[14](index=14&type=chunk) [About Non-GAAP Financial Measures](index=6&type=section&id=About_Non-GAAP_Financial_Measures) Datadog explains its use of non-GAAP financial measures for internal budgeting, forecasting, and performance evaluation, believing these supplemental measures are useful to investors by excluding certain non-cash or non-recurring expenses - Datadog uses non-GAAP measures to supplement GAAP results for internal planning and to evaluate financial performance[16](index=16&type=chunk) - Primary adjustments to derive non-GAAP figures from GAAP balances include excluding: stock-based compensation, amortization of acquired intangibles, employer payroll taxes on stock transactions, and M&A transaction costs[18](index=18&type=chunk) - Free cash flow is defined as net cash from operating activities minus capital expenditures and capitalized software development costs[18](index=18&type=chunk)[24](index=24&type=chunk) [Operating Metrics Definition](index=8&type=section&id=Operating_Metrics_Definition) This section defines key operating metrics used by the company, including customer count based on unique active subscription accounts and Annual Recurring Revenue (ARR) derived from annualized Monthly Recurring Revenue (MRR) - A customer is defined as an account with a unique identifier and an active subscription; free trial users are not included[26](index=26&type=chunk) - Annual Recurring Revenue (ARR) is defined as the monthly recurring revenue (MRR) multiplied by 12; MRR aggregates revenue from committed contracts, additional usage, and monthly subscriptions[27](index=27&type=chunk)

Exhibit 99.1 SolarEdge Announces Second Quarter 2025 Financial Results MILPITAS, Calif. — August 7, 2025. SolarEdge Technologies, Inc. (Nasdaq: SEDG), a global leader in smart energy technology, today announced its financial results for the second quarter ended June 30, 2025. "I'm proud of the steady progress we made in turning SolarEdge around this quarter," said Shuki Nir, CEO of SolarEdge. "This was our second consecutive quarter of year-over-year and sequential revenue growth, along with margin expansio ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) For the quarterly period ended June 30, 2025 OR ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐ 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: 001-40522 Monte Rosa Therapeutics, Inc. (Exact name of registrant as specified in its charter) (I.R.S. Emplo ...

Warner Bros. Discovery Reports Second-Quarter 2025 Results NM - Not Meaningful (*) A non-GAAP financial measure; see the section starting on page 13 titled Definitions & Sources for additional details. Q2 2025 Highlights · Total revenues were $9.8 billion, up modestly from the prior year quarter. Q2 2025 Earnings Press Release | August 7, 2025 1 · Distribution revenues were relatively unchanged, as growth in global streaming subscribers was offset by continued domestic linear pay TV subscriber declines. · A ...

August 7, 2025 For release: Immediately Refer to: Ashley Hennessey; gentry_ashley_jo@lilly.com; (317) 416-4363 (Media) Mike Czapar; czapar_michael_c@lilly.com; (317) 617-0983 (Investors) Lilly reports second-quarter 2025 financial results and raises guidance INDIANAPOLIS, August 7, 2025 - Eli Lilly and Company (NYSE: LLY) today announced its financial results for the second-quarter of 2025. "Lilly delivered another quarter of strong performance, achieving 38% year-over-year revenue growth driven by robust s ...

Tecnoglass Q2 2025 Earnings Release [Financial & Operational Highlights](index=1&type=section&id=Financial%20%26%20Operational%20Highlights) Tecnoglass achieved record Q2 2025 results, with **$255.5 million** revenue, **44.7%** gross margin, **$79.8 million** Adjusted EBITDA, and a **$1.2 billion** backlog Key Financial & Operational Metrics | Metric | Q2 2025 Value | Year-over-Year Change | | :--- | :--- | :--- | | Total Revenue | $255.5 Million | +16.3% | | Single-Family Residential Revenue | $109.6 Million | +14.5% | | Gross Margin | 44.7% | +400 bps | | Net Income | $44.1 Million | - | | Adjusted Net Income | $48.5 Million | - | | Adjusted EBITDA | $79.8 Million | +24.5% | | Adjusted EBITDA Margin | 31.2% | - | | Backlog | $1.2 Billion | +17.2% | - Strategic operational highlights include the completion of the **Continental Glass Systems** asset acquisition to diversify production into the U.S., signing a lease for a West Coast showroom to promote the new **"Legacy"** aluminum product line, and continuing a feasibility study for a new automated facility in Florida[2](index=2&type=chunk) [Management Commentary](index=1&type=section&id=Management%20Commentary) Management attributed record quarterly performance to the vertically integrated platform, successful pricing, and strategic diversification, with a **$1.2 billion** backlog providing visibility into 2026 - CEO José Manuel Daes emphasized that the company's vertically integrated platform, successful pricing, and the **Continental Glass** acquisition are key drivers of growth and margin expansion[4](index=4&type=chunk) - COO Christian Daes noted that the record **$1.2 billion** backlog provides project visibility well into 2026, supported by a solid uptick in single-family residential orders and an expanding geographic footprint, including a new California showroom[4](index=4&type=chunk) [Detailed Financial Performance (Q2 2025)](index=2&type=section&id=Detailed%20Financial%20Performance%20(Q2%202025)) Q2 2025 saw record revenue of **$255.5 million** (+16.3% YoY), gross margin improvement to **44.7%**, and Adjusted EBITDA growth of **24.5%** to **$79.8 million** [Revenue Analysis](index=2&type=section&id=Revenue%20Analysis) Total revenues for Q2 2025 reached a record **$255.5 million**, increasing **16.3%** YoY, driven by strong growth in both multi-family/commercial and single-family residential segments Revenue Breakdown by Segment | Revenue Segment | Q2 2025 Revenue | YoY Growth | | :--- | :--- | :--- | | **Total Revenues** | **$255.5 Million** | **+16.3%** | | Multi-family/Commercial | - | +17.8% | | Single-family Residential | - | +14.5% | - A portion of the single-family residential growth was attributed to customers accelerating orders ahead of anticipated tariff-related price adjustments[5](index=5&type=chunk) [Profitability Analysis](index=2&type=section&id=Profitability%20Analysis) Gross margin expanded by **400 basis points** to **44.7%** in Q2 2025, contributing to a **24.5%** increase in Adjusted EBITDA to **$79.8 million** despite higher SG&A Key Profitability Metrics | Profitability Metric | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | Gross Profit | $114.3 Million | $89.6 Million | | Gross Margin | 44.7% | 40.8% | | Net Income | $44.1 Million | $35.0 Million | | Diluted EPS | $0.94 | $0.75 | | Adjusted Net Income | $48.5 Million | $40.5 Million | | Adjusted Diluted EPS | $1.03 | $0.86 | | Adjusted EBITDA | $79.8 Million | $64.1 Million | | Adjusted EBITDA Margin | 31.2% | 29.2% | - SG&A expenses increased mainly due to **$5.9 million** in aluminum tariffs paid in April and higher transportation and personnel expenses, partially offset by late-quarter price adjustments[7](index=7&type=chunk) [Cash Flow, Capital Allocation & Liquidity](index=3&type=section&id=Cash%20Flow%2C%20Capital%20Allocation%20%26%20Liquidity) Tecnoglass generated **$17.9 million** in operating cash flow, invested **$32.5 million** in capex (including **Continental Glass**), and maintained strong liquidity of **$310 million** Cash Flow & Liquidity Summary | Metric | Q2 2025 Value | | :--- | :--- | | Cash from Operating Activities | $17.9 Million | | Capital Expenditures | $32.5 Million | | Cash Dividends Paid | $7.0 Million | | Total Liquidity (End of Q2) | $310 Million | | Cash and Cash Equivalents | $137.9 Million | | Total Debt | $109.2 Million | - The company has approximately **$76.5 million** remaining under its current share repurchase program as of August 7, 2025[12](index=12&type=chunk) [Strategic Initiatives & Corporate Developments](index=3&type=section&id=Strategic%20Initiatives%20%26%20Corporate%20Developments) Tecnoglass is pursuing strategic growth through the **Continental Glass Systems** acquisition and advancing U.S. expansion with a new Florida facility feasibility study and West Coast showroom [Continental Glass Asset Acquisition](index=3&type=section&id=Continental%20Glass%20Asset%20Acquisition) In April 2025, Tecnoglass acquired assets from **Continental Glass Systems** for approximately **$30 million** to strengthen its U.S. market presence and create operational synergies - Acquired certain assets of **Continental Glass Systems** for approximately **$30 million** in April 2025[15](index=15&type=chunk) - The acquisition is aimed at strengthening U.S. market presence, broadening client reach, and creating synergies in the architectural glass industry[15](index=15&type=chunk) [U.S. Expansion Plans](index=1&type=section&id=U.S.%20Expansion%20Plans) The company is advancing U.S. expansion with a West Coast showroom for its **"Legacy"** aluminum product line and a feasibility study for a new automated Florida manufacturing facility - A feasibility study is underway for a new, fully automated facility in Florida to address future growth, diversify operations, and improve logistics[2](index=2&type=chunk)[14](index=14&type=chunk) - A lease was signed for a West Coast showroom to promote the new **"Legacy"** aluminum product line and support geographical expansion[2](index=2&type=chunk) [Full Year 2025 Guidance](index=3&type=section&id=Full%20Year%202025%20Guidance) Tecnoglass raised its full-year 2025 guidance, projecting revenues between **$980 million** and **$1.02 billion** and Adjusted EBITDA of **$310 million** to **$325 million** Full Year 2025 Financial Guidance | Guidance Metric | Full Year 2025 Range | Midpoint Growth | | :--- | :--- | :--- | | Revenues | $980 Million - $1.02 Billion | ~12% | | Adjusted EBITDA | $310 Million - $325 Million | ~15% | - The updated outlook assumes that pricing initiatives will more than compensate for a projected **$25 million** full-year impact from elevated input costs and tariffs[16](index=16&type=chunk) [Financial Statements](index=5&type=section&id=Financial%20Statements) The consolidated financial statements show total assets of **$1.18 billion**, net income of **$86.3 million** for six months, and **$64.8 million** cash from operations [Consolidated Balance Sheets](index=5&type=section&id=Consolidated%20Balance%20Sheets) As of June 30, 2025, total assets increased to **$1.18 billion**, driven by property, plant, and equipment and inventories, with shareholders' equity reaching **$736.0 million** Consolidated Balance Sheet Highlights (in thousands) | Balance Sheet Item | June 30, 2025 | Dec 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $137,907 | $134,882 | | Total current assets | $639,399 | $560,010 | | Total assets | $1,181,209 | $1,016,648 | | Total current liabilities | $320,481 | $265,826 | | Total liabilities | $445,208 | $385,465 | | Total shareholders' equity | $736,001 | $631,183 | [Consolidated Statements of Operations](index=6&type=section&id=Consolidated%20Statements%20of%20Operations) Q2 2025 operating revenues were **$255.5 million**, yielding a gross profit of **$114.3 million** and net income of **$44.1 million** (**$0.94** per diluted share) Consolidated Statements of Operations (Q2, in thousands) | Income Statement Item | 2025 | 2024 | | :--- | :--- | :--- | | Total operating revenues | $255,546 | $219,654 | | Gross profit | $114,335 | $89,577 | | Operating income | $61,204 | $51,134 | | Net income | $44,083 | $35,028 | | Diluted income per share | $0.94 | $0.75 | [Consolidated Statements of Cash Flows](index=7&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) For the six months ended June 30, 2025, cash provided by operating activities was **$64.8 million**, with a net cash increase of **$3.0 million** for the period Consolidated Statements of Cash Flows (Six Months Ended June 30, in thousands) | Cash Flow Item | 2025 | 2024 | | :--- | :--- | :--- | | Cash Provided by Operating Activities | $64,760 | $67,945 | | Cash Used in Investing Activities | $(48,627) | $(27,802) | | Cash Used in Financing Activities | $(14,924) | $(40,327) | | Net Increase/(Decrease) in Cash | $3,024 | $(2,703) | [Supplemental Information](index=9&type=section&id=Supplemental%20Information) This section provides geographic revenue breakdown, with the U.S. as the dominant market, and reconciliations of non-GAAP measures like Adjusted EBITDA and Free Cash Flow [Revenues by Region](index=9&type=section&id=Revenues%20by%20Region) In Q2 2025, U.S. revenues grew **15.5%** to **$242.2 million**, comprising the majority of sales, while other countries saw significant **62.9%** growth Revenues by Geographic Region (Q2 2025, in thousands) | Region | Q2 2025 Revenue | YoY Change | | :--- | :--- | :--- | | United States | $242,205 | +15.5% | | Colombia | $6,620 | +13.5% | | Other Countries | $6,722 | +62.9% | | **Total** | **$255,546** | **+16.3%** | [Reconciliation of Non-GAAP Measures](index=10&type=section&id=Reconciliation%20of%20Non-GAAP%20Measures) Detailed reconciliations are provided for non-GAAP metrics, including Adjusted EBITDA of **$79.8 million** and Free Cash Flow of **$0.474 million** for Q2 2025 Reconciliation to Adjusted EBITDA (Q2 2025, in thousands) | Reconciliation to Adjusted EBITDA | Amount | | :--- | :--- | | Net income | $44,083 | | Add: Interest expense | $1,350 | | Add: Income tax provision | $18,148 | | Add: Depreciation & amortization | $9,145 | | Add/Subtract: Other adjustments | $7,053 | | **Adjusted EBITDA** | **$79,779** | Reconciliation to Free Cash Flow (Q2 2025, in thousands) | Reconciliation to Free Cash Flow | Amount | | :--- | :--- | | Cash Provided by Operating Activities | $17,862 | | Less: Acquisition of property and equipment | $(32,515) | | Add back: Portion of asset acquisition in capex | $15,127 | | **Free Cash Flow** | **$474** |

PART I. FINANCIAL INFORMATION [Item 1. Financial Statements (unaudited)](index=3&type=section&id=Item%201.%20Financial%20Statements%20(unaudited)) Unaudited statements show rising product revenue but continued net losses and a widening stockholders' deficit [Condensed Balance Sheets](index=3&type=section&id=Condensed%20Balance%20Sheets) The balance sheet reflects a significant decrease in cash and a widening stockholders' deficit to $405.8 million Condensed Balance Sheet Highlights (in thousands) | Account | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $149,569 | $297,263 | | Total current assets | $218,875 | $360,134 | | Total assets | $250,220 | $378,318 | | Total current liabilities | $91,823 | $85,728 | | Total liabilities | $656,054 | $631,898 | | Total stockholders' deficit | $(405,834) | $(253,580) | [Condensed Statements of Operations and Comprehensive Loss](index=4&type=section&id=Condensed%20Statements%20of%20Operations%20and%20Comprehensive%20Loss) Q2 2025 saw a surge in product revenue to $39.5 million, though the net loss remained high at $75.8 million Statement of Operations Summary (in thousands, except per share data) | Metric | Q2 2025 | Q2 2024 | Six Months 2025 | Six Months 2024 | | :--- | :--- | :--- | :--- | :--- | | Product revenue, net | $39,503 | $7,324 | $68,023 | $9,236 | | Gross profit | $34,465 | $5,948 | $59,261 | $7,434 | | Total operating expenses | $94,389 | $83,248 | $198,047 | $154,688 | | Loss from operations | $(59,924) | $(77,300) | $(138,786) | $(147,254) | | Net loss | $(75,810) | $(91,446) | $(170,126) | $(174,298) | | Net loss per share | $(1.05) | $(1.56) | $(2.36) | $(2.98) | [Condensed Statements of Cash Flows](index=6&type=section&id=Condensed%20Statements%20of%20Cash%20Flows) Net cash used in operations increased to $147.7 million for the first six months of 2025 Cash Flow Summary for Six Months Ended June 30 (in thousands) | Activity | 2025 | 2024 | | :--- | :--- | :--- | | Net cash used in operating activities | $(147,659) | $(139,741) | | Net cash used in investing activities | $(115) | $(86) | | Net cash provided by financing activities | $80 | $34,671 | | **Net decrease in cash** | **$(147,694)** | **$(105,156)** | [Notes to Condensed Unaudited Financial Statements](index=7&type=section&id=Notes%20to%20Condensed%20Unaudited%20Financial%20Statements) Notes detail the VOQUEZNA launch, debt obligations, and a May 2025 restructuring plan - The FDA approved VOQUEZNA for Erosive GERD and H. pylori in late 2023, with commercial launch in Q4 2023, and an additional approval for Non-Erosive GERD was granted on **July 17, 2024**[22](index=22&type=chunk) - Management believes it has **sufficient working capital** to fund operations through at least the next twelve months from the issuance date of the financial statements[25](index=25&type=chunk) - For the first six months of 2025, **three customers accounted for 72% of product sales** and represented 82% of the accounts receivable balance as of June 30, 2025[38](index=38&type=chunk) - In May 2025, the company implemented a restructuring plan, reducing its workforce by 28 employees (approx. 6%) and incurring **total charges of $8.0 million**[104](index=104&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=24&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management highlights the strong VOQUEZNA launch, rising revenues, and sufficient liquidity for the next year [Overview](index=24&type=section&id=Overview) The company's focus is on commercializing VOQUEZNA, which shows strong prescription momentum post-launch - As of July 25, 2025, **over 580,000 prescriptions** for VOQUEZNA products have been filled by more than 29,300 prescribers since launch[110](index=110&type=chunk) - On July 17, 2024, the FDA approved VOQUEZNA 10 mg tablets for the relief of heartburn associated with **Non-Erosive GERD**[109](index=109&type=chunk) - The company has been informed of a potential supply disruption for clarithromycin, a component of VOQUEZNA TRIPLE PAK, which accounts for **approximately 1% of total revenue**[113](index=113&type=chunk) [Results of Operations](index=29&type=section&id=Results%20of%20Operations) Q2 2025 revenue surged to $39.5 million, with increased SG&A expenses driven by launch and restructuring costs Comparison of Three Months Ended June 30 (in thousands) | Account | 2025 | 2024 | Change | | :--- | :--- | :--- | :--- | | Product revenue, net | $39,503 | $7,324 | $32,179 | | Research and development | $9,076 | $7,376 | $1,700 | | Selling, general and administrative | $85,313 | $75,872 | $9,441 | | Net loss | $(75,810) | $(91,446) | $15,636 | Comparison of Six Months Ended June 30 (in thousands) | Account | 2025 | 2024 | Change | | :--- | :--- | :--- | :--- | | Product revenue, net | $68,023 | $9,236 | $58,787 | | Research and development | $18,260 | $16,806 | $1,454 | | Selling, general and administrative | $179,787 | $137,882 | $41,905 | | Net loss | $(170,126) | $(174,298) | $4,172 | - The **$41.9 million increase in SG&A** for the first six months of 2025 was primarily due to a $32.5 million increase in advertising and promotional expenses for the VOQUEZNA launch and an $8.9 million increase in personnel-related expenses from restructuring[137](index=137&type=chunk) [Liquidity and Capital Resources](index=32&type=section&id=Liquidity%20and%20Capital%20Resources) The company holds $149.6 million in cash and believes it has sufficient capital to fund operations for one year - The company had **cash and cash equivalents of $149.6 million** as of June 30, 2025[139](index=139&type=chunk) - The company has a term loan agreement with Hercules, which was amended to increase the principal amount up to $300 million, but **does not expect to meet the revenue threshold** to draw the final $50 million tranche[144](index=144&type=chunk)[150](index=150&type=chunk) - The Revenue Interest Financing Agreement entitles investors to a **10% royalty on net sales** of vonoprazan products until they receive aggregate payments equal to 200% of their investment[156](index=156&type=chunk) Cash Flow Summary for Six Months Ended June 30 (in thousands) | Activity | 2025 | 2024 | | :--- | :--- | :--- | | Net cash used in operating activities | $(147,659) | $(139,741) | | Net cash used in investing activities | $(115) | $(86) | | Net cash provided by financing activities | $80 | $34,671 | [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=40&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) Market risk exposures remain materially unchanged from the 2024 Form 10-K disclosures - There have been **no material changes** to the company's market risk since the disclosures in the 2024 Form 10-K[176](index=176&type=chunk) [Item 4. Controls and Procedures](index=40&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of June 30, 2025 - Management evaluated disclosure controls and procedures and concluded **they were effective** as of June 30, 2025[178](index=178&type=chunk) - **No material changes** in internal control over financial reporting occurred during the second quarter of 2025[179](index=179&type=chunk) PART II. OTHER INFORMATION [Item 1. Legal Proceedings](index=42&type=section&id=Item%201.%20Legal%20Proceedings) The company reports no current involvement in any material legal proceedings - The company is **not currently a party** to any material legal proceedings[181](index=181&type=chunk) [Item 1A. Risk Factors](index=42&type=section&id=Item%201A.%20Risk%20Factors) Risk factors remain materially unchanged from those disclosed in the 2024 Annual Report - **No material changes** have occurred to the risk factors disclosed in the 2024 Form 10-K[182](index=182&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=42&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) No unregistered sales of equity securities or issuer repurchases occurred during the period - There were **no unregistered sales of equity securities** or issuer repurchases of equity securities in the reported period[183](index=183&type=chunk)[184](index=184&type=chunk) [Item 6. Exhibits](index=43&type=section&id=Item%206.%20Exhibits) This section lists all exhibits filed, including new executive separation and employment agreements - The report includes several exhibits, such as **separation agreements** with Azmi Nabulsi and Molly Henderson, and an employment letter with Anne Marie Cook[190](index=190&type=chunk)

Financial Results 2nd Quarter 2025 Advantage Solutions Reports Second Quarter 2025 Results Strong profitability growth in Experiential and Retailer Services ST. LOUIS, August 7, 2025 – Advantage Solutions Inc. (NASDAQ: ADV) ("Advantage," "Advantage Solutions," the "Company," "we," or "our"), a leading business solutions provider to consumer goods manufacturers and retailers, today reported financial results for the three months ended June 30, 2025. Unless otherwise noted, results presented in this release a ...