WHITE MOUNTAINS REPORTS THIRD QUARTER RESULTS HAMILTON, Bermuda (November 6, 2025) - White Mountains Insurance Group, Ltd. (NYSE: WTM) reported book value per share of $1,851 as of September 30, 2025, an increase of 3% for the third quarter of 2025 and 6% for the first nine months of 2025, including dividends. On October 2, 2025, White Mountains entered into an agreement to sell approximately 77% of its equity interest in Bamboo for cash to CVC Capital Partners and will retain the remainder. Including the e ...

Financial Performance - Adjusted earnings per share increased by 58% to $1.22 compared to $0.77 per share in the prior year[8] - GAAP earnings per share for fiscal 2025 were $5.68, a significant increase from a loss of $0.84 per share in fiscal 2024[8] - For the fourth quarter ended September 30, 2025, GAAP earnings were $27,938,000, an increase of $33,750,000 compared to a loss of $5,812,000 in the prior year[24] - Adjusted EBITDA for the fourth quarter was $62,639,000, reflecting a slight increase of $112,000 from $62,527,000 in the previous year[24] - Adjusted earnings for the fourth quarter 2025 are projected to be $111,028 thousand, reflecting a significant increase from the previous year[42] - Fiscal 2024 GAAP earnings were reported at $77.513 million, with adjusted earnings of $462.731 million[48] - Fiscal 2025 adjusted earnings are projected to be $630.505 million, reflecting an increase from the previous year[48] - The company reported a net income available for common stock for the twelve months ended September 30, 2025, was $518,504,000, compared to $77,513,000 in 2024, representing a significant increase of 570.5%[58] - Basic earnings per share for the twelve months ended September 30, 2025, was $5.73, compared to $0.84 in 2024, reflecting a growth of 581.0%[54] - Net income for the twelve months ended September 30, 2025, was $324,698,000, compared to a net loss of $57,041,000 in 2024, representing a significant turnaround[60] Production and Reserves - Natural gas production reached 112 Bcf in the fourth quarter, representing a 21% increase year-over-year[8] - Proved reserves increased by 5% to 4,981 Bcfe, with a replacement rate of 154% for fiscal 2025 production[22] - The Integrated Upstream and Gathering segment achieved record natural gas production of 426 Bcf for the fiscal year, a 9% increase from the prior year[8] - The company expects to produce between 440 to 455 Bcf of natural gas in fiscal 2026[39] - Gas production in the Appalachia region increased to 111,538 MMcf for the three months ended September 30, 2025, up from 91,902 MMcf in the same period of 2024, representing a 21.4% increase[71] - Proved developed and undeveloped reserves increased to 4,980,410 MMcf as of September 30, 2025, from 4,751,762 MMcf in 2024, a growth of 4.8%[73] Acquisitions and Investments - The company announced the acquisition of CenterPoint Energy's Ohio natural gas utility for $2.62 billion, expected to close in Q4 2026[8] - The acquisition of CenterPoint Energy's Ohio natural gas utility business is expected to close in the fourth quarter of calendar 2026, not impacting fiscal 2026 guidance[37] - The company incurred $1,061,000 in pending Ohio acquisition costs during the three months ended September 30, 2025[79] - The Corporate and All Other segment reported a net loss of $6,300,000, an increase of $3,300,000 from the prior year, attributed to higher operating expenses related to the Ohio utility acquisition[30] Revenue and Expenses - Operating revenues for the three months ended September 30, 2025, increased to $456,406,000, up 22.7% from $372,068,000 in the same period of 2024[54] - Total operating revenues for the twelve months ended September 30, 2025, reached $1,184,136,000, a 21.2% increase from $976,615,000 in 2024[60] - Operating income for the three months ended September 30, 2025, was $158,246,000, compared to an operating loss of $172,883,000 in the same period of 2024, indicating a positive variance of $331,129,000[60] - Operating and maintenance expenses in the Utility segment rose by $3,800,000, driven by higher personnel costs[29] - Operating Expenses for the three months ended September 30, 2025, totaled $7,686,000, an increase of 24.9% from $6,154,000 in 2024[66] Dividends and Shareholder Returns - The company announced its 55th consecutive dividend increase to an annual rate of $2.14 per share[8] Guidance and Projections - The company provided fiscal 2026 adjusted earnings per share guidance of $7.60 to $8.10, assuming an average NYMEX natural gas price of $3.75 per MMBtu[11] - The company revised its fiscal 2026 consolidated adjusted earnings per share guidance to $7.60 - $8.10[39] - Capital expenditures for fiscal 2026 are projected to remain between $955 million and $1,065 million[39] Market Conditions - The average NYMEX natural gas price realization increased to $2.61 per Mcf, up 9% compared to the prior year[8] - The impact of new rates in New York added $3,842 thousand to utility margins[42] - Average weighted gas prices rose to $2.41 per Mcf for the three months ended September 30, 2025, compared to $1.73 per Mcf in 2024, marking a 39.3% increase[71] Segment Performance - The Utility segment's GAAP earnings decreased by $1,031,000, or 6%, primarily due to increased operation and maintenance expenses[27] - Customer margin in the Utility segment increased by $5,300,000, largely due to a rate increase effective October 1, 2024[28] - Integrated Upstream and Gathering Segment reported GAAP earnings of $103,493,000 for Q3 2025, a significant improvement from a loss of $142,072,000 in Q3 2024[81] - Pipeline and Storage Segment achieved reported GAAP earnings of $27,938,000 in Q3 2025, compared to a loss of $5,812,000 in Q3 2024[81] - Utility Segment reported a GAAP loss of $17,790,000 in Q3 2025, a marginal increase from a loss of $16,759,000 in Q3 2024[81]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 _____________________________________ FORM 10-Q _____________________________________ (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2025 OR o 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: 001-40693 RALLYBIO CORP ...

Dentsply Sirona Reports Third Quarter 2025Results Charlotte, N.C., November 6, 2025 - DENTSPLY SIRONA Inc. ("Dentsply Sirona" or the "Company") (Nasdaq: XRAY) today announced its financial results for the third quarter of 2025 and introduced its Return-to-Growth action plan, a comprehensive strategy to improve performance and position the Company for sustained, profitable growth over the next 24 months. Third quarter net sales of $904 million decreased (5.0%) (decreased (8.0%) in constant currency) compared ...

Financial Performance - Earnings per diluted share for Q2 Fiscal 2026 were $3.32, up 44% year-over-year on a reported basis, and $3.79, up 49% on an adjusted basis[2] - Revenue for Q2 Fiscal 2026 increased 17% to $2.0 billion on a reported basis, with a 14% increase in constant currency[7] - Net revenues for the three months ended September 27, 2025, were $2,010.7 million, a 16.5% increase from $1,726.0 million for the same period in 2024[31] - Net income for the three months ended September 27, 2025, was $207.5 million, up 40.3% from $147.9 million in the same period of 2024[31] - Basic net income per share for the three months ended September 27, 2025, was $3.39, compared to $2.36 for the same period in 2024, representing a 43.6% increase[31] - Total net revenues for the six months ended September 27, 2025, reached $3,729.8 million, a 15.2% increase compared to $3,238.2 million in the prior year[38] - Operating income for the six months ended September 27, 2025, was $519.3 million, up from $387.4 million in the same period of 2024, reflecting a 34.0% increase[35] - Operating income for the three months ended September 27, 2025, was $245.7 million, reflecting an increase from $178.9 million in the same period last year[45] Revenue Growth by Region - North America revenue increased 13% to $832 million, with comparable store sales also up 13%[12] - Europe revenue rose 22% to $688 million, with a 10% increase in comparable store sales[12] - Asia revenue increased 17% to $446 million, with comparable store sales up 16%[12] - North America segment net revenues increased by 10.5% to $1,488.6 million for the six months ended September 27, 2025, compared to $1,347.7 million in 2024[38] - Digital commerce sales in Asia grew by 36% for the three months ended September 27, 2025, indicating strong online performance[37] Shareholder Returns and Investments - The company returned approximately $420 million to shareholders through dividends and stock repurchases year-to-date[4] - The company repurchased $435.9 million of common stock during the six months ended September 27, 2025, compared to $330.2 million in the same period of 2024[33] - Capital expenditures for the six months ended September 27, 2025, were $281.1 million, significantly higher than $75.1 million in the prior year[33] - The company is investing $100 million in new product development, focusing on sustainable materials and innovative designs[54] Financial Position - The company ended Q2 Fiscal 2026 with $1.6 billion in cash and short-term investments, and $1.2 billion in total debt[15] - Total assets as of September 27, 2025, were $7,347.7 million, an increase from $6,800.0 million as of September 28, 2024[29] - Total liabilities as of September 27, 2025, were $4,765.5 million, compared to $4,357.7 million as of September 28, 2024[29] - Cash and cash equivalents as of September 27, 2025, were $1,443.0 million, a decrease from $1,922.5 million as of March 29, 2025[29] - The company reported a total current liability of $1,840.0 million as of September 27, 2025, down from $2,092.4 million as of September 28, 2024[29] Strategic Initiatives - The company plans to continue expanding its direct-to-consumer presence and enhance its digital capabilities[27] - The company is focused on managing inventory levels effectively to mitigate margin pressures in a highly promotional retail environment[27] - The company is undergoing a Next Generation Transformation project aimed at significantly transforming its operations towards a direct-to-consumer model[51] - Ralph Lauren plans to expand its presence in Asia, targeting a 20% increase in market share over the next three years[54] - The company announced a strategic partnership with a leading technology firm to enhance customer experience through AI[54] - Ralph Lauren is exploring potential acquisitions to bolster its portfolio and expand into new markets[54] Future Guidance - Full year Fiscal 2026 revenue is now expected to increase 5% to 7% on a constant currency basis[18] - Operating margin for Fiscal 2026 is expected to expand approximately 60 to 80 basis points in constant currency[19] - Future guidance for Fiscal 2026 excludes potential restructuring-related charges, with uncertainty regarding the timing and amount of such charges[53] - Future guidance indicates expected revenue growth of 8-10% for the upcoming fiscal year[54] Profitability Metrics - Gross profit for the six months ended September 27, 2025, was $2,608.7 million, compared to $2,221.5 million for the same period in 2024, reflecting a 17.4% increase[31] - Gross margin improved to 60%, up from 58% in the previous year, reflecting better pricing strategies and cost management[54] - The effective tax rate for the three months ended September 27, 2025, was 14.6%, compared to 21.4% in the previous year[46] - The company incurred total other operating expenses of $1,120.7 million for the three months ended September 27, 2025, compared to $976.8 million in the prior year[45]

Exhibit 99.1 Corporate Updates • In the third quarter of 2025, Rallybio generated a total of $20 million pursuant to its agreement with Recursion Pharmaceuticals for the sale of its interest in REV102, an investigational ENPP1 inhibitor in development for the treatment of hypophosphatasia (HPP). The total included $7.5 million from an upfront payment and $12.5 million related to the initiation of additional preclinical studies. RLYB116 Program Rallybio Reports Third Quarter 2025 Financial Results and Provid ...

Revenue Performance - Total revenues for the three months ended September 30, 2025, decreased by $6.4 million, or 4%, compared to the prior year period, primarily due to declines in food and beverage, rooms, and other revenues [121]. - For the nine months ended September 30, 2025, total revenues decreased by $23.3 million, or 5%, with declines in gaming, food and beverage, rooms, and other revenues [122]. - Total revenues for the three months ended September 30, 2025, were $154.8 million, a decrease of $6.4 million, or 4%, compared to the prior year [137]. - Nevada Casino Resorts revenues decreased by $6.5 million, or 7%, for the three months ended September 30, 2025, primarily due to lower gaming and room revenues [138]. - Revenues for Nevada Taverns decreased by $0.3 million, or 1%, for the three months ended September 30, 2025, primarily due to decreases in food and beverage and other revenues [144]. Gaming Operations - Gaming revenues increased by $1.4 million during the same period, driven mainly by the Nevada Taverns segment [121]. - Nevada Locals Casinos revenues increased by $0.4 million, or 1%, for the three months ended September 30, 2025, driven by higher gaming revenues [142]. Operating Income and Expenses - Total operating income for the three months ended September 30, 2025, was $882, a significant decrease from $6,728 in the prior year [120]. - The net loss for the three months ended September 30, 2025, was $4.7 million, compared to a net income of $5.2 million in the prior year [120]. - Operating expenses decreased by $1.4 million, or 1.9%, for the three months ended September 30, 2025, primarily due to decreases in food and beverage and rooms operating expenses [123]. - For the nine months ended September 30, 2025, operating expenses decreased by $9.5 million, or 4%, mainly from declines in gaming, food and beverage, and rooms operating expenses [124]. - Selling, general and administrative (SG&A) expenses decreased by $1.5 million, or 3%, for the three months ended September 30, 2025, attributed to lower utility, legal, and advertising costs [125]. - SG&A expenses for the nine months ended September 30, 2025, decreased by $8.9 million, or 5%, influenced by trends observed in the previous quarter [126]. EBITDA and Financial Metrics - Adjusted EBITDA for the three months ended September 30, 2025, was $30.5 million, down $3.5 million, or 10%, from the previous year [137]. - Adjusted EBITDA for the nine months ended September 30, 2025 decreased by $2.2 million, or 10%, compared to the prior year period, attributed to higher labor costs and cost of goods [145]. Cash Flow and Financing - As of September 30, 2025, the company had $58.3 million in cash and cash equivalents and $205 million in borrowing availability under its $240 million Revolving Credit Facility [148]. - Net cash provided by operating activities increased by $3.0 million, or 4%, to $72.8 million for the nine months ended September 30, 2025, compared to the prior year [151]. - Net cash used in investing activities was $32.8 million for the nine months ended September 30, 2025, primarily related to capital expenditures at Nevada Casino Resorts [152]. - Net cash used in financing activities decreased by $314.5 million, or 89%, to $39.5 million for the nine months ended September 30, 2025, primarily due to the repayment of 2026 Unsecured Notes [153]. - The weighted-average effective interest rates on outstanding borrowings under the Credit Facility were 6.60% and 6.62% for the three and nine months ended September 30, 2025, respectively [169]. Strategic Actions and Market Conditions - The company completed the sale of its distributed gaming operations in Nevada for cash consideration of $213.5 million on January 10, 2024 [107]. - The company acquired the operations of Great American Pub for $7.3 million on April 22, 2024, adding two tavern locations to its portfolio [108]. - The company may pursue expansion opportunities in existing or new markets, which could require substantial investments funded through cash flows or additional financing [160]. - The company anticipates continued challenges in hotel occupancy rates impacting overall revenue performance [121]. - The company’s operating results are significantly affected by economic conditions and consumer spending, with potential declines adversely impacting revenues [149]. - The decrease in other revenues was influenced by changes in revenue recognition from certain taverns transitioning from fixed rental fees to gaming revenues [145].

Financial Performance - Total current assets increased to $397,502,000 as of September 30, 2025, up from $267,286,000 as of December 31, 2024, representing a 48.7% increase[15] - Net loss for the three months ended September 30, 2025, was $21,618,000, compared to a net loss of $18,142,000 for the same period in 2024, indicating a 13.6% increase in losses[18] - The company reported total operating expenses of $23,926,000 for the three months ended September 30, 2025, up from $19,612,000 in the same period of 2024, a 22.5% increase[18] - The company experienced a total comprehensive loss of $21,475,000 for the three months ended September 30, 2025, compared to a loss of $18,021,000 for the same period in 2024, a 13.6% increase[18] - The net loss for the nine months ended September 30, 2025, was $64.9 million, compared to a net loss of $46.3 million for the same period in 2024[25] - The net loss attributable to common stockholders for the nine months ended September 30, 2025, was $64,909,000, compared to $46,336,000 for the same period in 2024, representing a 40.3% increase[74] Research and Development - Research and development expenses for the three months ended September 30, 2025, were $19,270,000, compared to $16,747,000 for the same period in 2024, reflecting a 9.1% increase[18] - Canvuparatide (MBX 2109) incurred direct research and development expenses of $10.1 million for the three months ended September 30, 2025, compared to $6.0 million in 2024, a 70% increase[106] - Direct program expense for canvuparatide was $10,130,000 for the three months ended September 30, 2025, compared to $5,957,000 in 2024, indicating a 69.5% increase[79] - Research and development expenses increased to $59.4 million for the nine months ended September 30, 2025, up from $42.2 million in the same period of 2024, representing a $17.2 million increase[112] - Direct research and development program expenses for canvuparatide rose by $12.5 million, primarily due to increased activities related to the Phase 2 clinical trial and preparation for the Phase 3 trial[112] Cash and Equity - Cash and cash equivalents significantly increased to $223,125,000 as of September 30, 2025, compared to $49,351,000 as of December 31, 2024, a growth of 351.5%[15] - The company generated approximately $401.8 million in aggregate gross proceeds from various stock issuances since inception, with an additional $199.9 million raised in September 2025[29] - Cash and cash equivalents at the end of the period were $223.1 million, up from $132.9 million at the end of the same period in 2024[25] - As of September 30, 2025, the Company had cash, cash equivalents, and marketable securities totaling $391.7 million, which management believes will be sufficient to fund obligations for at least 12 months[30] - The company reported a weighted average number of common shares outstanding of 34,198,597 for the three months ended September 30, 2025, compared to 6,515,616 in 2024, indicating a significant increase in shares[74] Operating Expenses - The company reported total operating expenses of $23,926,000 for the three months ended September 30, 2025, up from $19,612,000 in the same period of 2024, a 22.5% increase[18] - General and administrative expenses were $12.9 million for the nine months ended September 30, 2025, compared to $7.4 million for the same period in 2024, reflecting a $5.5 million increase[113] - The company anticipates significant increases in operating expenses as it advances the development of its product candidates and transitions to commercial activities[88] Financing Activities - The company reported a net cash provided by financing activities of $189.2 million for the nine months ended September 30, 2025[25] - The company completed an underwritten public offering of 11,108,055 shares, resulting in approximately $199.9 million in gross proceeds[29] - The company completed its IPO on September 16, 2024, issuing 11,730,000 shares at $16.00 per share, resulting in net proceeds of $170.5 million[60] Market and Regulatory Risks - Changes in U.S. federal tax laws, such as the One Big Beautiful Bill Act, may adversely affect the company's financial condition and cash flow[147] - Ongoing healthcare legislative and regulatory reforms may have a material adverse effect on the company's business and results of operations[148] - The company faces risks related to potential price controls and cost-containment measures that could limit revenue from approved products[150] - The company is subject to heightened governmental scrutiny over pricing methodologies, which may lead to changes in reimbursement rates and coverage policies[151] - The Inflation Reduction Act of 2022 (IRA) will reduce out-of-pocket spending cap for Medicare Part D beneficiaries to $2,000 starting in 2025, impacting drug pricing and manufacturer patient programs[152] Corporate Structure and Operations - The company maintains its corporate offices in Carmel, Indiana, and was organized in August 2018[28] - The Company has entered into a lease agreement for its principal executive office, which has been extended through December 31, 2028, following a modification in May 2025[47] - The Company triggered a $1.0 million milestone payment related to the initiation of the Phase 1 clinical trial of MBX 4291, with total future milestone payments in the License Agreement amounting to $9.3 million[54] Future Outlook - The lead product candidate, canvuparatide, is expected to enter Phase 3 clinical trials in the third quarter of 2026 following positive results from Phase 2 trials[83] - The company plans to present results from the Phase 2 clinical trial of canvuparatide at a medical meeting in the second quarter of 2026[83] - The company expects substantial increases in expenses as it advances the development of its product candidates and incurs additional costs associated with operating as a public company[116]

Table of Contents 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 September 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-38596 REPLIMUNE GROUP, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of in ...

Financial Performance - Revenues for the three months ended September 30, 2025, were $581,000, a decrease of $48.8 million (98.8%) compared to $49.4 million in 2024 [181]. - Revenues for the nine months ended September 30, 2025, were $25.3 million, down $24.9 million (50%) from $50.2 million in 2024 [181]. - A net loss of $85.5 million was reported, adjusted for non-cash expenses, with significant changes in liabilities and assets impacting cash flow [213]. Research and Development - The Phase 1/2 STAND study for ST-503, an investigational epigenetic regulator for chronic neuropathic pain, has commenced patient enrollment and recruitment [168]. - A positive mean annualized estimated glomerular filtration rate (eGFR) slope of 1.965 mL/min/1.73m²/year was observed across all 32 dosed patients in the registrational Phase 1/2 STAAR study for isaralgagene civaparvovec, a gene therapy for Fabry disease [168]. - The company expects research and development expenses to increase in the near term due to activities related to the Fabry disease program [189]. Liquidity and Capital Resources - As of September 30, 2025, the company's cash and cash equivalents, along with the $6.0 million from Pfizer and $9.1 million generated through its at-the-market offering program, are estimated to be sufficient to meet liquidity requirements only into the first quarter of 2026 [162]. - Cash and cash equivalents as of September 30, 2025, were $29.6 million, down from $41.9 million as of December 31, 2024 [200]. - The company has approximately $148.7 million remaining available under its Open Market Sale Agreement as of September 30, 2025 [201]. Operating Expenses - Research and development expenses for the three months ended September 30, 2025, were $28.1 million, an increase of $0.4 million (1%) compared to $27.7 million in 2024 [184]. - General and administrative expenses for the three months ended September 30, 2025, were $8.0 million, a decrease of $3.1 million (28%) from $11.0 million in 2024 [184]. - Total operating expenses for the nine months ended September 30, 2025, were $108.4 million, a decrease of $19.9 million (15%) compared to $128.2 million in 2024 [184]. Future Outlook and Concerns - The company has incurred significant losses and expects to continue doing so for at least the next several years as it continues its research and development activities [174]. - The company has substantial doubt about its ability to continue as a going concern for at least the next 12 months, primarily due to significant losses and dependence on additional financing [204]. - The company anticipates continuing to incur operating losses for several years and needs to raise substantial additional capital to fund operations and development [211]. Capital Raising Efforts - The company is actively seeking additional capital through strategic collaborations and other financing sources to support its operations and research [162]. - The company is engaged in discussions for a commercialization agreement for its Fabry disease program but has not yet secured a partner [204]. - The company may face challenges in raising additional capital due to macroeconomic conditions, including the ongoing conflict between Russia and Ukraine [206]. Compliance and Regulatory Matters - The company has been granted a 180-day extension until April 27, 2026, to regain compliance with the minimum bid price requirement on The Nasdaq Capital Market [161]. - The company is preparing for a Biologics License Application (BLA) submission for isaralgagene civaparvovec as early as the first quarter of 2026 [171]. - Future capital requirements could exceed hundreds of millions of dollars per product for regulatory approvals from the FDA [206].