Financial Performance - Revenue for the three months ended September 30, 2025, was $274.2 million, a 38% increase from $198.6 million in the same period of 2024[207]. - Revenue for the nine months ended September 30, 2025, increased by $219.9 million, or 41%, to $752.0 million compared to $532.1 million in the same period of 2024[216]. - The net loss for the three months ended September 30, 2025, was $1,097.0 million, compared to a net loss of $15.6 million in the same period of 2024[205]. - For the nine months ended September 30, 2025, the company reported a net loss of $1.0 billion, adjusted for $1.1 billion in non-cash charges, resulting in cash provided from operating activities of $210.8 million[234]. - The cash used in operating activities for the nine months ended September 30, 2024, was $134.8 million, influenced by a net loss of $829.9 million[235]. Customer Growth - The number of paid customers with more than $10,000 in annual recurring revenue (ARR) increased to 12,910 as of September 30, 2025, up from 9,762 a year earlier, representing a growth of 32.8%[180]. - The number of paid customers with more than $100,000 in ARR rose to 1,262, an increase from 876, reflecting a growth of 43.9% year-over-year[181]. - The increase in revenue was primarily driven by a 32% increase in Paid Customers with more than $10,000 in ARR and a 44% increase in Paid Customers with more than $100,000 in ARR[207]. - The number of Paid Customers with more than $10,000 in ARR and more than $100,000 in ARR increased by 32% and 44%, respectively, as of September 30, 2025[216]. Expenses and Costs - Research and development expenses surged to $680.9 million for the three months ended September 30, 2025, a 554% increase from $104.2 million in 2024[210]. - Sales and marketing expenses increased by 247% to $274.8 million for the three months ended September 30, 2025, compared to $79.3 million in 2024[211]. - General and administrative expenses rose to $371.4 million, a 748% increase from $43.8 million in the same period of 2024[212]. - Cost of revenue rose by $60.2 million, or 85%, primarily due to higher technical infrastructure and hosting costs, which increased by $28.9 million[217]. - Research and development expenses increased by $141.3 million, or 20%, to $833.9 million, driven by a $125.3 million rise in employee-related costs[218]. - Sales and marketing expenses grew by $30.4 million, or 7%, to $441.3 million, attributed to higher technical infrastructure costs and increased marketing spend[219]. - General and administrative expenses surged by $153.9 million, or 54%, to $440.6 million, mainly due to a $138.3 million increase in employee-related costs[220]. Cash Flow and Liquidity - The net cash provided by operating activities for the nine months ended September 30, 2025, was $210,795, compared to a net cash used of $(134,808) in 2024[191]. - The company had cash and cash equivalents of $340.5 million, digital assets of $30.3 million, and marketable securities of $1.2 billion as of September 30, 2025[246]. - The company believes its current liquidity will be sufficient to fund operations for at least the next twelve months, with potential future investments in complementary businesses and technologies[224]. - Net cash used in investing activities for the nine months ended September 30, 2025, was $294.4 million, primarily due to the purchase of marketable securities totaling $1.0 billion[237]. - Net cash used in financing activities during the nine months ended September 30, 2025, was $55.7 million, mainly due to $494.6 million for employee tax payments related to RSU awards[239]. Stock-Based Compensation - Figma recognized a one-time cumulative stock-based compensation expense of $975.7 million related to vested restricted stock units in connection with the IPO[172]. - Figma modified certain restricted stock units in May 2024, resulting in a stock-based compensation expense of $801.2 million during the nine months ended September 30, 2024[177]. - The company reported a $1.1 billion increase in stock-based compensation expense for the nine months ended September 30, 2025, net of amounts capitalized[234]. Other Financial Metrics - Non-GAAP operating income for the nine months ended September 30, 2025, was $85,530, up from $70,807 in 2024, reflecting a non-GAAP operating margin of 11%[187]. - Free Cash Flow for the three months ended September 30, 2025, was $49,047, compared to $60,419 in 2024, while Adjusted Free Cash Flow was $49,047 for 2025 versus $60,971 for 2024[191]. - The company expects Free Cash Flow to fluctuate in future periods as it invests in business growth initiatives[189]. - The gross margin may fluctuate due to the timing and amount of technical infrastructure costs and investments in AI technologies[197]. - The company has made significant investments in integrating AI into its platform, which is expected to impact operating results and financial condition[195]. IPO and Mergers - Figma completed its IPO on August 1, 2025, issuing 12.5 million shares at $33.00 per share, resulting in net proceeds of $393.1 million after underwriting discounts[170]. - Figma incurred transaction costs of $4.4 million and $13.6 million related to the abandoned merger with Adobe for the three and nine months ended September 30, 2024, respectively[175]. - The operating cash outflow associated with the transaction costs from the abandoned merger was $68.5 million for the three and nine months ended September 30, 2024[176]. - The company recorded transaction costs associated with the abandoned merger with Adobe, impacting both Free Cash Flow and Adjusted Free Cash Flow[189]. Tax and Valuation - The company maintains a full valuation allowance on its deferred tax assets, indicating uncertainty about their realization[203]. - The provision for income taxes recorded a benefit decrease of $56.4 million, or 105%, due to income tax expense related to foreign subsidiaries[222]. - The fair value of the company's investment in a Bitcoin exchange-traded fund was $96.4 million as of September 30, 2025, with a hypothetical 10% decrease in price potentially reducing its value by $9.6 million[251]. Future Outlook - The company expects general and administrative expenses to decrease as a percentage of revenue over time, despite absolute dollar increases as the business grows[201]. - The company does not currently engage in hedging activities to mitigate foreign currency exchange risks, although it may consider this in the future[249].

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 26, 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 333-48123 The Hackett Group, Inc. (Exact name of registrant as specified in its charter) FLORIDA 65-0750100 (State or other jurisdiction of ...

Financial Performance - For Q3 2025, SandRidge reported a net income of $16.0 million, or $0.44 per basic share, with adjusted net income of $15.5 million, or $0.42 per basic share[6]. - Total revenues for Q3 2025 increased by 32% year-over-year, driven by production from the Cherokee acquisition and development program[5]. - Net income for the nine months ended September 30, 2025, was $48.56 million, a 7% increase from $45.40 million in the same period of 2024[29]. - Total revenues for the nine months ended September 30, 2025, rose to $116.96 million, up 35.6% from $86.32 million in 2024[29]. - Net income available to common stockholders for Q3 2025 was $15,953,000, a decrease of 37.4% from $25,484,000 in Q3 2024[47]. - Adjusted net income available to common stockholders for the nine months ended September 30, 2025, was $42,248,000, representing a 93.5% increase from $21,804,000 in the same period of 2024[47]. - The company reported a total adjusted net income per share of $1.15 for the nine months ended September 30, 2025, compared to $0.59 for the same period in 2024[47]. Production and Operations - Production averaged 19.0 MBoe per day in Q3 2025, a 12% increase compared to Q3 2024, with oil production rising by 49%[5]. - Total oil production increased by 49% year-over-year to 344 MBbl for the three months ended September 30, 2025, compared to 231 MBbl in 2024[24]. - Daily production increased to 19.0 MBoed in Q3 2025, compared to 17.0 MBoed in Q3 2024, representing a 11.8% growth[24]. - Four wells from the ongoing one-rig Cherokee development program achieved average peak 30-day initial production rates of approximately 2,000 gross Boe per day, with around 43% being oil[10]. - The company is focused on the Mid-Continent region for its oil and gas production and development activities[51]. Financial Position - The company had $102.6 million in cash and cash equivalents as of September 30, 2025, with no outstanding debt obligations[12]. - The company's cash and cash equivalents increased to $102.59 million as of September 30, 2025, from $99.51 million at the end of 2024[27]. - The total stockholders' equity increased to $492.45 million as of September 30, 2025, from $460.53 million at the end of 2024[27]. - The company reported a net increase in cash and cash equivalents of $3,076,000 for the nine months ended September 30, 2025, contrasting with a decrease of $159,863,000 in 2024[34]. Costs and Expenses - Lease operating expenses for Q3 2025 totaled $10.9 million, or $6.25 per Boe, reflecting increased operational activity and costs[11]. - The average cost per Boe for lease operating expenses rose to $6.25 in Q3 2025, compared to $5.82 in Q3 2024, indicating a 7.4% increase[24]. - General and administrative expenses for the nine months ended September 30, 2025, totaled $9,618,000, with an adjusted G&A of $7,449,000[49]. - Adjusted G&A per Boe for Q3 2025 was $1.23, up from $1.02 in Q3 2024, indicating improved cost management[49]. Cash Flow and Investments - Net cash provided by operating activities for the nine months ended September 30, 2025, was $68,450,000, compared to $47,940,000 in 2024, reflecting a significant increase of about 42.8%[38]. - Adjusted operating cash flow for the nine months ended September 30, 2025, reached $79,840,000, up from $51,912,000 in 2024, indicating a growth of approximately 53.8%[38]. - Free cash flow for the nine months ended September 30, 2025, was $29,327,000, compared to $34,367,000 in 2024, showing a decrease of about 14.4%[40]. - Capital expenditures for the nine months ended September 30, 2025, totaled $50.64 million, with drilling and completion accounting for $46.25 million[25]. - Capital expenditures for property, plant, and equipment for the nine months ended September 30, 2025, totaled $41,361,000, significantly higher than $13,572,000 in 2024, marking an increase of approximately 205.5%[34]. - Net cash used in investing activities for the nine months ended September 30, 2025, was $46,128,000, a decrease from $138,662,000 in 2024, indicating a reduction of about 66.7%[34]. Future Outlook - Future projects include one-rig development in the Cherokee Shale Play and evaluation of merger and acquisition opportunities[18]. - The company anticipates future operational improvements and cost reductions as part of its corporate strategies[50]. - Forward-looking statements indicate potential risks including oil price volatility and regulatory changes affecting operations[50]. Shareholder Returns - The company declared a dividend of $0.12 per share, payable on November 28, 2025, to stockholders of record on November 14, 2025[15]. - The company repurchased 0.6 million shares for $6.4 million at an average price of $10.72 per share during the nine months ended September 30, 2025[17]. Derivative Contracts - The company experienced a loss on derivative contracts of $5,936,000 for the nine months ended September 30, 2025, compared to a loss of $1,866,000 in the same period of 2024[47].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File Number: 001-40465 Marqeta, Inc. 180 Grand Avenue, 6th Floor, Oakland, California 94612 (Address of principal exec ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2025 OR 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: 001-40624 CS Disco, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation o ...

For the quarterly period ended September 30, 2025 or UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 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: 001-39486 QUANTUM-SI INCORPORATED (Exact name of registrant as specified in its charter) ___________________ ...

Revenue Performance - Service revenue for the three months ended September 30, 2025, increased by $4.0 million, or 2.3%, compared to the same period in 2024, driven by an increase in platform usage revenue in the Asia-Pacific region [120]. - For the six months ended September 30, 2025, service revenue rose by $7.5 million, or 2.2%, primarily due to a $20.1 million increase in platform usage revenue, also mainly from the Asia-Pacific region [121]. - The service revenue for the three months ended September 30, 2025, was $179.1 million, representing 97.3% of total revenue [119]. - Other revenue decreased by $0.9 million, or 15.6%, for the three months ended September 30, 2025, compared to the same period in 2024, primarily due to lower product revenue of $0.8 million [123]. - For the six months ended September 30, 2025, other revenue decreased by $1.2 million, or 10.8%, compared to the same period in 2024, driven by a $1.6 million decline in product revenue [124]. Profitability and Expenses - Gross profit for the three months ended September 30, 2025, was $119.3 million, with a gross profit margin of 64.8% [108]. - The company reported a net income of $767,000 for the three months ended September 30, 2025, which is 0.4% of total revenue [108]. - Cost of service revenue increased by $7.4 million, or 14.8%, for the three months ended September 30, 2025, mainly due to a $10.1 million rise in costs to deliver subscription and platform usage services [126]. - For the six months ended September 30, 2025, cost of service revenue rose by $11.8 million, or 11.8%, primarily due to a $17.3 million increase in subscription and platform usage service costs [127]. - Research and development expenses decreased by $3.4 million, or 10.8%, for the three months ended September 30, 2025, mainly due to a $2.1 million reduction in stock-based compensation [132]. - General and administrative expenses increased by $2.4 million, or 12.0%, for the three months ended September 30, 2025, primarily due to a $3.6 million rise in legal and regulatory costs [138]. - Sales and marketing expenses decreased by $1.0 million, or 1.6%, for the three months ended September 30, 2025, primarily due to a $3.3 million decline in channel commissions [135]. - Cost of other revenue decreased by $0.5 million, or 6.8%, for the three months ended September 30, 2025, primarily due to lower product costs associated with IP telephone hardware [129]. Strategic Focus and Initiatives - The company is focusing on retaining existing customers and expanding its mid-market, enterprise, and public sector customer base as part of its long-term strategy [105]. - The company plans to increase service revenue through new customer acquisition, cross-selling additional products, and strategic acquisitions of technologies and businesses [109]. - The company is committed to maintaining a high level of investment in research and development to drive innovation across its Platform for CX [105]. - The company is enhancing its platform with AI-based capabilities and expanding its Technology Partner Ecosystem to provide tailored solutions [106]. - The company has expanded its reseller partner programs to increase market reach and improve sales efficiency [107]. Cash Flow and Financial Position - Cash and cash equivalents totaled $75.9 million as of September 30, 2025, down from $88.1 million on March 31, 2025 [151]. - Net cash provided by operating activities decreased by $9.8 million to $20.7 million for the six months ended September 30, 2025, compared to $30.5 million in 2024 [155]. - Cash used in investing activities increased to $8.7 million for the six months ended September 30, 2025, up from $7.2 million in 2024 [155]. - The company repurchased 1.0 million shares of common stock for approximately $1.8 million at an average price of $1.83 per share during the six months ended September 30, 2025 [153]. - The outstanding principal of the 2024 Term Loan is $127.0 million as of September 30, 2025, after a reduction of $25.0 million during the fiscal year [160]. - The company has a material cash requirement of $527.1 million as of March 31, 2025, with a significant increase in a non-cancellable hosting service contract commitment from $24.1 million to $54.0 million [165]. - The 2024 Term Loan bears interest at an effective rate of 8.65% as of September 30, 2025 [159]. - The company anticipates that existing cash and cash flows from operations will be sufficient to meet working capital and contractual obligations for at least the next twelve months [150]. Accounting and Risk Management - The company's consolidated financial statements are prepared in accordance with U.S. GAAP, with no significant changes to critical accounting policies during the six months ended September 30, 2025 [168]. - There have been no material changes in the company's exposures to market risk since March 31, 2025, including interest rate and foreign currency exchange risks [170]. - The preparation of financial statements requires estimates and judgments that affect reported amounts of assets, liabilities, revenue, and expenses [167]. Other Income and Taxation - Other income increased to $0.5 million for the three months ended September 30, 2025, compared to a loss of $12.7 million in the same period of 2024, primarily due to a decrease in loss on debt extinguishment by $12.0 million [144]. - The provision for income taxes decreased by $0.9 million for the three months ended September 30, 2025, representing an 81.1% decline compared to the same period in 2024 [147]. - Interest expense decreased by $3.1 million, or 38.7%, for the three months ended September 30, 2025, primarily due to a lower interest rate on the 2024 Term Loan compared to the 2022 Term Loan [141]. - The percentage of total revenue attributed to research and development was 15.2% for the three months ended September 30, 2025, down from 17.3% in the same period of 2024 [131].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-41255 Ponce Financial Group, Inc. (Exact Name of Registrant as Specified in its Charter) Maryland 87-189396 ...

Financial Performance - Revenue for the three months ended September 30, 2025, was $9.8 million, an increase of 35% from $7.2 million in the same period of 2024[179]. - Gross profit for the three months ended September 30, 2025, was $0.3 million, down from $0.5 million in 2024, resulting in a gross margin of 3% compared to 7% in 2024[180]. - Operating expenses increased to $3.6 million for the three months ended September 30, 2025, from $2.6 million in 2024, primarily due to a contingency loss[181]. - Net loss for the three months ended September 30, 2025, was $6.7 million, compared to a net loss of $3.8 million in 2024, driven by increased losses from discontinued operations[194]. - Revenue for the nine months ended September 30, 2025, totaled $26.3 million, a decrease from $28.2 million in the same period of 2024[195]. - Gross profit for the nine months ended September 30, 2025, was $1.5 million, down from $1.9 million in 2024, with a gross margin of 6% compared to 7% in 2024[196]. - Operating expenses for the nine months ended September 30, 2025, were $6.9 million, a slight decrease from $7.1 million in 2024, attributed to a gain on the disposal of insolvent subsidiaries[197]. - Share-based compensation expenses increased to $0.9 million for the nine months ended September 30, 2025, compared to $0.4 million in 2024, due to grants of SARs to key employees[202]. - Loss from discontinued operations totaled $3.0 million for the three months ended September 30, 2025, compared to $1.5 million in 2024, primarily due to goodwill impairment[193]. - Non-operating loss for the three months ended September 30, 2025, was $0.3 million, consistent with the same period in 2024, reflecting unrealized losses and foreign exchange impacts[191]. - Gain on disposal of insolvent subsidiaries totaled $1.1 million for the nine months ended September 30, 2025, compared to $nil for the same period in 2024[206]. - Other expenses increased to $1.4 million for the nine months ended September 30, 2025, up from $0.8 million in 2024, primarily due to a $0.6 million contingency loss related to a legal proceeding[207]. - Non-operating income was less than $0.1 million for the nine months ended September 30, 2025, compared to a non-operating loss of $0.2 million in 2024, driven by a $1.3 million gain on digital asset revaluation[208]. - The net loss remained consistent at $9.8 million for both the nine months ended September 30, 2025, and 2024[211]. Cash Flow and Financing - Cash at the end of the period increased to $13.1 million as of September 30, 2025, from $5.2 million at December 31, 2024[212]. - Net cash used in operating activities was $5.5 million for the nine months ended September 30, 2025, compared to $3.7 million in 2024[216]. - Net cash provided by financing activities totaled $12.1 million for the nine months ended September 30, 2025, significantly up from $3.1 million in 2024[217]. - The Company had working capital of $9.4 million as of September 30, 2025, including $13.1 million in cash[219]. - The Company raised $13.3 million in gross cash proceeds from the PIPE Offering that closed on September 26, 2025[222]. - The outstanding amount of credit facilities was €2.3 million ($2.7 million USD) as of September 30, 2025, with interest rates ranging from 4.76% to 5.08% per year[225]. Corporate Actions and Compliance - The Company generated approximately $1.1 million in net proceeds from the May 2025 Private Placement, using $0.4 million each to purchase Solana and Ethereum, and $0.1 million each for Sui and Ripple[153]. - The PIPE Offering on September 19, 2025, resulted in gross proceeds of $2.9 million from 116,340 common share units and $10.4 million from 412,037 pre-funded warrant units[154]. - The first closing of the PIPE Offering on September 26, 2025, yielded aggregate gross cash proceeds of $13.3 million and 2,592,212 PIPE Pre-Funded Warrants valued at $54.7 million[155]. - The Company transferred 100% of its legacy hemp and cannabis business subsidiaries on September 26, 2025, to Flora Growth US Holdings LLC, satisfying the balance receivable under promissory notes[160]. - The Company is in compliance with Nasdaq's Minimum Bid Price Requirement after a reverse stock split on August 3, 2025, which resulted in a closing bid price above $1.00 for 10 consecutive trading days[163]. - The Company is currently evaluating options to regain compliance with Nasdaq's Corporate Governance Requirements following the passing of an Independent Director on August 25, 2025[165]. Business Operations - The Company operates as a global pharmaceutical distributor through its subsidiary Phatebo, focusing on 28 countries, primarily in Europe[151]. - The Company plans to utilize proceeds from the Cryptocurrency Offering to enhance its digital asset treasury strategy linked to 0G Tokens[157]. - The Company recognizes revenue at the transaction price upon transferring control of goods to customers, with payment terms generally ranging from 0 to 30 days[170]. - The Company includes costs of raw materials, purchased finished goods, and inventory reserves in its cost of sales, which can be impacted by various factors including product volume and mix[171].

Financial Performance - Revenue from continuing operations increased 16.8% to $205.4 million compared to $175.9 million in the prior year period[7] - Earnings from continuing operations were $0.8 million, a significant improvement from a loss of $6.2 million in the prior year[11] - Adjusted EBITDA from continuing operations increased 13.4% to $23.6 million compared to $20.8 million in the prior year[12] - Adjusted earnings per share from continuing operations were $0.05 compared to $0.02 in the prior year[12] - Operating income increased significantly to $6,866 compared to $807 in the same quarter last year, reflecting a substantial operational improvement[23] - Net earnings from continuing operations were $816, a turnaround from a loss of $6,214 in the prior year quarter[23] - Adjusted earnings from continuing operations for the first three quarters ended September 27, 2025, were $15,645,000, up from $5,859,000 in the prior year, representing a growth of 167%[30] - Adjusted EBITDA from continuing operations for the third quarter ended September 27, 2025, was $23,580,000, compared to $20,788,000 in the same quarter of 2024, indicating a year-over-year increase of 13.6%[33] - The company’s earnings from continuing operations attributable to common shareholders for the third quarter were $816,000, compared to a loss of $6,351,000 in the same quarter of 2024[30] Revenue Outlook - The company is updating its 2025 revenue outlook to $812 - 816 million, and for 2026, the outlook is $865 - 880 million[15] - Revenues for the quarter ended September 27, 2025, were $205,410, an increase of 16.8% compared to $175,856 for the same quarter in 2024[23] - Reported revenue for the third quarter ended September 27, 2025, was $5,962,000, compared to $1,784,000 for the same period in 2024, reflecting a significant increase[30] Cash Flow and Assets - Cash provided by operating activities of continuing operations was $34.1 million for the first three quarters of fiscal 2025, compared to $19.2 million in the prior year[13] - Cash provided by operating activities of continuing operations was $34,124, up from $19,221 in the same period last year[25] - Total assets as of September 27, 2025, were $694.1 million, with total debt of $265.8 million[13] - Total assets as of September 27, 2025, increased to $694,102 from $668,527 at the end of December 2024[24] - Current liabilities rose to $193,426 from $169,434, primarily due to an increase in accounts payable and short-term debt[24] - Total debt as of September 27, 2025, is $265,785,000, with net debt at $263,560,000 after accounting for cash and cash equivalents of $2,225,000[37] Operational Developments - A new aseptic manufacturing line is being announced at the Midlothian, Texas facility, which is already over 50% subscribed and expected to come online in late 2026[6] - The company reported a net loss from discontinued operations of $1,814 in the previous year, which has been eliminated in the current reporting period[25] - The company incurred asset impairment charges of $2,565,000 in the third quarter of 2025, which were not present in the same quarter of 2024[33] - The exit from aseptic totes resulted in charges of $1,423,000 in the third quarter of 2025, with no comparable charges in the previous year[33] Financial Ratios - The company expects to maintain a net leverage ratio of 2.8x through the end of the fiscal year[13] - Net leverage as of September 27, 2025, is 2.8x, compared to 3.0x as of December 28, 2024[37] - The company’s accumulated deficit improved to $(346,511) from $(355,982) year-over-year, indicating a reduction in losses[24] Other Financial Metrics - Gross profit increased by $2.6 million, or 11.4%, to $25.5 million, with a gross margin of 12.4%[9] - Gross profit for the quarter was $25,467, resulting in a gross margin of 12.4%, while the adjusted gross margin improved to 13.6%[27] - The reported gross margin for the third quarter was 14.1%, while the adjusted gross margin was 14.7%[30] - Interest expense, net for the third quarter was $5,424,000, a decrease from $6,762,000 in the prior year[33] - The company reported a loss on sale of receivables of $603,000 in the third quarter, compared to $236,000 in the same period of 2024[33] - Wastewater haul-off charges for the third quarter amounted to $1,145,000, down from $2,180,000 in the same quarter of the previous year[33] - The weighted-average common shares outstanding increased slightly to 118,245, compared to 116,841 in the same quarter last year[23]