Financial Performance - Net loss for Q3 2025 was $4.6 million, or $0.45 per share, compared to a net income of $1.4 million, or $0.16 per share in Q3 2024[9]. - The net loss attributable to Serina Therapeutics, Inc. for the three months ended September 30, 2025, was $4,585,000, compared to a net income of $1,410,000 in 2024[24]. - Basic net loss per common share for the three months ended September 30, 2025, was $(0.45), compared to $0.16 in 2024[24]. - Total revenues for the three months ended September 30, 2025, were $14,000, compared to $0 for the same period in 2024, representing a significant increase[24]. - Total operating expenses for the nine months ended September 30, 2025, were $17,945,000, compared to $11,569,000 in 2024, indicating a 55% increase[24]. Expenses - Operating expenses for Q3 2025 were $6.4 million, up from $5.3 million in Q3 2024, representing a 20.8% increase[4]. - R&D expenses increased to $3.6 million in Q3 2025 from $2.4 million in Q3 2024, a rise of 50%[6]. - Research and development expenses increased to $3,651,000 for the three months ended September 30, 2025, up from $2,415,000 in 2024, reflecting a growth of 51%[24]. Cash and Assets - Cash and cash equivalents as of September 30, 2025, totaled $8.6 million, an increase from $3.7 million at the end of 2024[10][22]. - Total assets increased to $12.4 million as of September 30, 2025, compared to $6.7 million at the end of 2024[22]. - Cash and cash equivalents at the end of the period on September 30, 2025, were $8,620,000, up from $3,235,000 at the end of the same period in 2024[26]. Financing Activities - Serina secured up to $20 million in funding through a convertible note and warrant financing agreement, with the first tranche of $5 million drawn in September 2025[5]. - Net cash provided by financing activities for the nine months ended September 30, 2025, was $16,931,000, compared to $8,181,000 in 2024, showing a significant increase of 107%[26]. Regulatory and Development Milestones - The FDA has aligned with the company's plan to advance SER-252 under a 505(b)(2) NDA pathway, marking a significant regulatory milestone[3][5]. - SER-270, designed for tardive dyskinesia, is on track for formulation optimization and pre-IND activities completion in 2026[5]. Shareholder Information - As of November 7, 2025, Serina issued 474,712 shares of common stock at a gross average price of $6.00, resulting in net proceeds of $2.8 million[5]. - The weighted average number of common shares outstanding for the three months ended September 30, 2025, was 10,339,000, compared to 8,851,000 in 2024, reflecting a 17% increase[24]. Other Income - Total other income, net for the three months ended September 30, 2025, was $1,797,000, down from $6,695,000 in 2024, indicating a decrease of 73%[24]. Corporate Initiatives - The company launched a comprehensive corporate communications platform in October 2025 to enhance stakeholder engagement and transparency[5].

Financial Performance - The net loss for Q3 2025 was $4.6 million, or $0.45 per share, compared to a net income of $1.4 million, or $0.16 per share, in Q3 2024[9]. - The net loss attributable to Serina Therapeutics, Inc. for the three months ended September 30, 2025, was $4,585 thousand, compared to a net income of $1,410 thousand in 2024[24]. - Basic net loss per common share for the three months ended September 30, 2025, was $(0.45), compared to $0.16 in 2024[24]. - Total revenues for the three months ended September 30, 2025, were $14 million, compared to $0 million for the same period in 2024, representing a significant increase[24]. Operating Expenses - Operating expenses for Q3 2025 were $6.4 million, up from $5.3 million in Q3 2024, representing a 20.8% increase[4]. - General and administrative expenses decreased to $2.7 million in Q3 2025 from $2.9 million in Q3 2024, a reduction of 6.9%[7]. - Total operating expenses for the nine months ended September 30, 2025, were $17,945 thousand, compared to $11,569 thousand in 2024, indicating a 55% increase[24]. Research and Development - R&D expenses increased to $3.6 million in Q3 2025 from $2.4 million in Q3 2024, a rise of 50% driven by outsourced research services and clinical activities[6]. - Research and development expenses increased to $3,651 thousand for the three months ended September 30, 2025, up from $2,415 thousand in 2024, reflecting a 51% increase[24]. - SER-270 is on track for formulation optimization and pre-IND activities in 2026, targeting tardive dyskinesia treatment[5][16]. - The SER-252 registrational study is designed to evaluate safety and efficacy in adults with Parkinson's disease, involving 40 participants in the single-ascending-dose component[15]. Cash and Financing - Cash and cash equivalents increased to $8.6 million as of September 30, 2025, compared to $3.7 million as of December 31, 2024[10][22]. - Net cash used in operating activities for the nine months ended September 30, 2025, was $(11,922) thousand, slightly improved from $(12,548) thousand in 2024[26]. - Net cash provided by financing activities for the nine months ended September 30, 2025, was $16,931 thousand, compared to $8,181 thousand in 2024, showing a 107% increase[26]. - Cash and cash equivalents at the end of the period on September 30, 2025, were $8,620 thousand, up from $3,235 thousand at the end of the same period in 2024[26]. - Serina secured up to $20 million in funding through a convertible note and warrant financing agreement, with the first tranche of $5 million drawn in September 2025[5]. - As of November 7, 2025, Serina issued 474,712 shares of common stock at a gross average price of $6.00, resulting in net proceeds of $2.8 million[5]. Shareholder Information - The weighted average number of common shares outstanding for the three months ended September 30, 2025, was 10,339 thousand, compared to 8,851 thousand in 2024, reflecting a 17% increase[24]. - Total other income, net for the three months ended September 30, 2025, was $1,797 thousand, down from $6,695 thousand in 2024, indicating a decrease of 73%[24]. Regulatory Milestones - The FDA supported advancing SER-252 under a 505(b)(2) NDA pathway, marking a significant regulatory milestone[3][5].

Financial Performance - The company reported an operating loss of $6.4 million for the nine months ended September 30, 2025, compared to a loss of $5.3 million for the same period in 2024, indicating an increase in losses year-over-year [147]. - For the three months ended September 30, 2025, net loss was $4.6 million, compared to a net income of $1.4 million for the same period in 2024, representing a decrease of $5.98 million [168]. - The net loss for the nine months ended September 30, 2025 was $15.9 million, compared to a net loss of $8.5 million in the same period of 2024 [193][194]. - Other income for the three months ended September 30, 2025, was $1.8 million, down from $6.7 million in 2024, a decrease of $4.9 million [175]. Cash and Financing - As of September 30, 2025, the company had an accumulated deficit of $60.2 million and $8.6 million in cash and cash equivalents, raising concerns about its ability to continue as a going concern [148]. - The company had $8.6 million in cash and cash equivalents, with significant reliance on financing from stock issuances and convertible notes [178]. - The company entered into a Securities Purchase Agreement resulting in net proceeds of $4.9 million from the issuance of Series A Convertible Preferred Stock [179]. - The company has an at-the-market offering program with a potential aggregate offering price of up to $13.3 million, having sold 385,851 shares at an average price of $5.96, resulting in net proceeds of $2.2 million [181]. - Net cash provided by financing activities for the nine months ended September 30, 2025 was $16.9 million, an increase of 107.0% from $8.2 million in 2024 [195][196]. - The financing activities in 2025 included $4.9 million from the issuance of common stock to Juvenescence and $4.9 million from a securities purchase agreement [195]. Research and Development - The company expects to incur substantial expenditures for the development of its product candidates and anticipates that research and development expenses will continue to increase significantly [149]. - The company has not yet had any products approved for sale and does not expect to generate product sales until regulatory approval is obtained for its product candidates [150]. - The company announced a clinical hold on its IND application for SER-252, its lead development program for advanced Parkinson's disease, due to the FDA's request for additional information [162]. - The company plans to advance SER 252 into Phase I clinical trials and further invest in its pipeline, including hiring additional personnel to support development efforts [155]. - Research and development expenses are expected to increase substantially as the company continues to invest in clinical trials and other development activities [158]. - Research and development expenses increased to $3.6 million for the three months ended September 30, 2025, up from $2.4 million in 2024, marking a $1.2 million increase [170]. Operating Expenses - Total operating expenses for the nine months ended September 30, 2025, were $17.9 million, compared to $11.6 million for the same period in 2024, an increase of $6.4 million [174]. - General and administrative expenses are projected to rise over the next several years to support ongoing research and development, manufacturing activities, and compliance with public company regulations [164]. - General and administrative expenses decreased to $2.7 million for the three months ended September 30, 2025, from $2.9 million in 2024, a net decrease of $0.2 million [173]. Risks and Uncertainties - The company faces numerous risks and uncertainties in product development, including the potential need for additional clinical trials and the unpredictability of regulatory approvals [162]. - The accumulated deficit as of September 30, 2025, was $60.2 million, raising substantial doubt about the company's ability to continue as a going concern [186].

Financial Performance - The company reported an operating loss of $6.4 million for the nine months ended September 30, 2025, compared to a loss of $5.3 million for the same period in 2024[147]. - For the three months ended September 30, 2025, net loss was $4.6 million, compared to a net income of $1.4 million for the same period in 2024, representing a decrease of $5.98 million[168]. - For the nine months ended September 30, 2025, net loss was $15.9 million, compared to a net loss of $8.5 million for the same period in 2024, representing an increase of $7.4 million[168]. - Net cash used in operating activities for the nine months ended September 30, 2025, was $11.9 million, a decrease of 5.0% from $12.5 million in 2024[193][194]. Research and Development - Research and development expenses are anticipated to increase significantly as the company advances its product candidates through clinical trials and seeks regulatory approvals[158]. - The company anticipates that its research and development expenses will continue to rise as product candidates advance into later stages of clinical development[163]. - Research and development expenses increased to $3.6 million for the three months ended September 30, 2025, up from $2.4 million in 2024, marking a $1.2 million increase[170]. - Research and development expenses for the nine months ended September 30, 2025, were $9.8 million, compared to $5.1 million in 2024, an increase of $4.6 million[171]. Financial Position - As of September 30, 2025, the company had an accumulated deficit of $60.2 million and $8.6 million in cash and cash equivalents[147]. - As of September 30, 2025, the company had $8.6 million in cash and cash equivalents, with significant reliance on financing from stock issuances and convertible notes[178]. - The company expects to incur substantial expenditures for product development and will require additional financing to continue operations beyond twelve months from the issuance of the financial statements[186]. Operating Expenses - General and administrative expenses are expected to increase to support ongoing research and development activities and compliance with public company regulations[164]. - General and administrative expenses decreased to $2.7 million for the three months ended September 30, 2025, down from $2.9 million in 2024, a decrease of $0.2 million[173]. - General and administrative expenses for the nine months ended September 30, 2025, were $8.2 million, up from $6.5 million in 2024, an increase of $1.7 million[174]. - Total operating expenses for the three months ended September 30, 2025, were $6.4 million, compared to $5.3 million in 2024, an increase of $1.1 million[168]. Financing Activities - The company has financed its operations primarily through aggregate net proceeds of $63.8 million from various equity and debt instruments[147]. - Net cash provided by financing activities for the nine months ended September 30, 2025, was $16.9 million, an increase of 107.0% from $8.2 million in 2024[195][196]. - Financing activities in 2025 included net proceeds of $4.9 million from the issuance of common stock to Juvenescence and $4.9 million from a securities purchase agreement[195]. - In 2024, the company received $5.0 million from the exercise of Post-Merger Warrants by Juvenescence, contributing to the total financing activities[196]. Clinical Development - The FDA placed a clinical hold on the company's IND application for SER-252, requesting additional information related to a commonly used excipient in the formulation[162]. - The company has not had any products approved for sale and does not expect to generate product sales until successful development and regulatory approval are achieved[150]. Cash Flow - The company experienced a net increase in cash of $4.95 million for the nine months ended September 30, 2025, compared to a net decrease of $4.38 million in 2024, representing a change of 212.9%[192]. - The significant increase in cash from financing activities reflects the company's strategic efforts to enhance liquidity and support growth initiatives[195]. - The company reported a $2.7 million cash increase from operating assets and liabilities for the nine months ended September 30, 2025[193].

Financial Performance - For the three months ended September 30, 2025, the company reported a net income of $2,137,767, consisting of interest earned on investments held in the Trust Account of $2,651,071, offset by formation and operating costs of $513,304[115]. - For the nine months ended September 30, 2025, the company had a net income of $6,379,642, which included interest earned on investments of $7,360,268 and a change in fair value of over-allotment liability of $268,783, offset by formation and operating costs of $1,249,409[116]. Investments and Cash Position - As of September 30, 2025, the company had investments held in the Trust Account amounting to $238,827,542, which will be used to complete the Business Combination[126]. - As of September 30, 2025, the company had cash of $323,684 available for operational activities and evaluating target businesses[127]. Initial Public Offering - The company generated gross proceeds of $200,000,000 from the Initial Public Offering of 20,000,000 Units at $10.00 per Unit on December 16, 2024[119]. - Following the full exercise of the over-allotment option, the company received an additional gross proceeds of $30,000,000 from the sale of 3,000,000 Units[120]. - The company incurred total offering expenses of $5,328,515, which included $4,600,000 in cash underwriting fees[121]. Business Combination and Future Plans - The company expects to continue incurring significant costs in pursuit of its acquisition plans, raising substantial doubt about its ability to continue as a going concern[129]. - The company has engaged B. Riley as an advisor for the Business Combination, agreeing to pay a cash fee of 4.5% of the gross proceeds of the Initial Public Offering upon consummation of the initial Business Combination[133]. - The company may seek to extend the combination period, which is currently set to end on December 16, 2026, requiring approval from public shareholders[113].

Financial Performance - For the three months ended September 30, 2025, the company reported a net income of $2,137,767, consisting of interest earned on investments held in the Trust Account of $2,651,071, offset by formation and operating costs of $513,304 [115]. - For the nine months ended September 30, 2025, the company had a net income of $6,379,642, which included interest earned on investments of $7,360,268 and a change in fair value of over-allotment liability of $268,783, offset by formation and operating costs of $1,249,409 [116]. Investments and Cash Position - As of September 30, 2025, the company had investments held in the Trust Account totaling $238,827,542, which are intended to be used for completing the Business Combination [126]. - As of September 30, 2025, the company had cash of $323,684, primarily used for identifying and evaluating target businesses [127]. - The company has no long-term debt or capital lease obligations as of the reporting date [130]. Initial Public Offering - The company generated gross proceeds of $200,000,000 from the Initial Public Offering of 20,000,000 Units at $10.00 per Unit on December 16, 2024 [119]. - Following the full exercise of the over-allotment option, the company generated an additional $30,000,000 from the sale of 3,000,000 Units at $10.00 per Unit [120]. - The company incurred $5,328,515 in offering expenses, which included $4,600,000 in cash underwriting fees and $728,515 in other offering costs [121]. Business Combination and Advisory - The company has engaged B. Riley as an advisor for the Business Combination, agreeing to pay a cash fee of 4.5% of the gross proceeds of the Initial Public Offering upon consummation of the initial Business Combination [133]. Going Concern - The company expects to continue incurring significant costs in pursuit of its acquisition plans, raising substantial doubt about its ability to continue as a going concern [129].

Financial Results Announcement - TherapeuticsMD, Inc. announced its financial results for the quarter ended September 30, 2025[5]. - The press release detailing the financial results was issued on November 12, 2025[5]. Company Information - The company is listed on The Nasdaq Stock Market under the trading symbol TXMD[2]. - The company is classified as an emerging growth company[3]. Financial Metrics and Guidance - The report does not include specific financial metrics or performance data in the provided content[4]. - No user data or performance guidance for future quarters was disclosed in the available content[4]. - The financial statements and exhibits are not included in the provided content[8]. Product and Market Strategy - There is no indication of any new product launches or technological advancements mentioned in the current report[7]. - The report does not specify any market expansion or acquisition strategies[7]. - The company has not committed to releasing updates on forward-looking statements[7].

Financial Performance - Revenue for Q3 2025 was $14.5 million, a decrease of 14.5% compared to $16.9 million in Q3 2024[9] - Net loss for Q3 2025 was $1.1 million, compared to a net income of $3.0 million in Q3 2024[9] - Gross profit for Q3 2025 was $3.4 million, a decline from $6.1 million in Q3 2024[9] - Product revenue for Q3 2025 was $14,533,000, a decrease of 13.4% from $16,785,000 in Q3 2024[22] - The company reported a net loss of $1,120,000 for Q3 2025, compared to a net income of $3,045,000 in Q3 2024[22] - Adjusted EBITDA for the nine months ended September 30, 2025, was $3,275,000, down 49.8% from $6,532,000 in the same period of 2024[22] Margins and Expenses - Gross margin in Q3 2025 was 23%, down from 36% in the same period last year[9] - Research and development expenses for Q3 2025 were $1.1 million, compared to $970,000 in Q3 2024[21] - Selling, general and administrative expenses increased to $3.1 million in Q3 2025 from $1.9 million in Q3 2024[21] - Research and development expenses for Q3 2025 totaled $1,082,000, an increase of 11.5% from $970,000 in Q3 2024[22] - Selling, general and administrative expenses for Q3 2025 were $3,069,000, up 58.7% from $1,934,000 in Q3 2024[22] - Interest expense increased to $339,000 in Q3 2025 from $153,000 in Q3 2024[22] Assets and Liabilities - Total current assets increased to $32.8 million as of September 30, 2025, from $29.3 million at the end of 2024[17] - Total liabilities decreased to $36.8 million as of September 30, 2025, from $35.1 million at the end of 2024[17] Strategic Focus - The company is focused on expanding its product offerings in skin care, sun care, and color cosmetics despite a challenging market environment[3] Other Income and Tax Provisions - The company recorded other income of $1,234,000 for the nine months ended September 30, 2025, compared to no other income in the same period of 2024[22] - The provision for income taxes for the nine months ended September 30, 2025, was $390,000, while there was no provision in the same period of 2024[22]

Financial Performance - Total revenue for Q3 2025 was $57.238 million, an increase of 10.4% compared to $51.809 million in Q3 2024[20] - Management/advisory fees rose to $51.680 million in Q3 2025, up from $48.101 million in Q3 2024, reflecting a growth of 5.3%[20] - The net loss attributable to AlTi Global, Inc. for Q3 2025 was $84.135 million, compared to a loss of $72.542 million in Q3 2024[23] - Basic net loss per share from continuing operations was $(0.69) for Q3 2025, compared to $(0.13) for Q3 2024[23] - The net loss for the period ending September 30, 2025, was $106,954,000, compared to a net loss of $139,879,000 for the previous period, indicating an improvement of about 23.5%[28] - For the nine months ended September 30, 2025, AlTi Global reported a net loss from continuing operations of $109,033 thousand, compared to a net loss of $37,929 thousand for the same period in 2024, representing an increase in loss of 187%[35] - The net loss for the nine months ended September 30, 2025, was $106.8 million, compared to a net loss of $43.1 million for the same period in 2024[213] Operating Expenses and Impairments - Total operating expenses increased to $85.735 million in Q3 2025, compared to $61.322 million in Q3 2024, representing a rise of 39.8%[20] - The company reported an impairment loss on goodwill and intangible assets of $35 million in Q3 2025[21] - The company experienced a significant impairment loss on goodwill and intangible assets amounting to $35,000 thousand, down from $74,267 thousand in the previous year, indicating a 53% reduction[35] Assets and Liabilities - Total assets decreased to $1.154 billion as of September 30, 2025, down from $1.256 billion as of December 31, 2024[18] - Cash and cash equivalents decreased to $35.847 million as of September 30, 2025, from $64.417 million as of December 31, 2024[18] - The company’s total liabilities decreased to $270.590 million as of September 30, 2025, from $285.638 million as of December 31, 2024[18] - The total shareholders' equity decreased to $883.834 million as of September 30, 2025, down from $970.195 million as of December 31, 2024[18] - As of September 30, 2025, total shareholders' equity amounted to $883,834,000, a decrease from $990,187,000 at June 30, 2025, reflecting a decline of approximately 10.7%[27] Cash Flow and Investments - Cash flows from operating activities from continuing operations resulted in a net cash outflow of $53,528 thousand, compared to an outflow of $16,448 thousand in the prior year, reflecting a 226% increase in cash used[35] - The company reported net cash provided by investing activities from continuing operations of $13,221 thousand, a significant recovery from a net cash outflow of $85,888 thousand in the same period last year[37] - The cash and cash equivalents at the end of the period were $35,847 thousand, down from $220,592 thousand a year earlier, indicating a decrease of 84%[37] Shareholder Equity and Stock - Preferred share dividends accrued during the period totaled $6,124,000, with a preferred stock tranche issuance of $18,471,000[28] - The issuance of shares for business combination resulted in a reduction of $24,396,000 in Class A Common Stock[27] - The company’s total shares outstanding for Class A Common Stock increased to 102,464,812 as of September 30, 2025, from 101,567,545 at June 30, 2025[27] - Class A Common Stock increased from 93,686,980 shares as of December 31, 2024, to 102,464,812 shares as of September 30, 2025, a growth of 9.2%[54] Acquisitions and Disposals - The Company disposed of its International Real Estate segment during the third quarter ended September 30, 2025, reorganizing into one operating segment[55] - The Company recognized a loss of $19.6 million upon the disposal of its International Real Estate Businesses, classified as discontinued operations[157] - The total purchase consideration for the Kontora Acquisition was $15.7 million, which included contingent consideration of $5.7 million tied to future revenue streams[202] Revenue Recognition and Fees - The Company’s revenue streams include management fees, performance fees, distributions from investments, and other income[56] - The company recognizes revenue from investment management, trustee, and custody fees at the time of transfer of promised goods or services to customers[86] - Investment management fees are recognized over the period services are performed, with revenue varying based on assets under administration (AUA) changes[87] - The company charges investment management fees based on the fair value of assets under management (AUM), with fixed fees applied in certain circumstances[89] Global Operations and Market Position - AlTi Global's total assets under management reached approximately $89.2 billion as of September 30, 2025, maintaining a strong position in the wealth management sector[40] - As of September 30, 2025, AlTi Global had approximately 490 professionals operating in 19 cities across 9 countries, highlighting its extensive global reach[40] - The Company has strategic investments with External Strategic Managers managing approximately $5.4 billion of AUM as of September 30, 2025[69]

Financial Performance - Revenue for Q3 2025 was $60.154 million, a decrease of 19% compared to $74.244 million in Q3 2024[13] - Net income for Q3 2025 was $8.711 million, compared to a net loss of $28.309 million in Q3 2024[15] - The company reported a loss from operations of $14.587 million for Q3 2025, compared to a loss of $16.038 million in Q3 2024[13] - Basic net income per share for Q3 2025 was $0.98, compared to a loss of $4.74 per share in Q3 2024[13] - For the nine months ended September 30, 2025, the net loss was $21,132 thousand, a slight improvement from a net loss of $22,145 thousand in the same period of 2024, representing a 4.6% decrease in losses[23] - The Company reported a net income of $8.711 million for the three months ended September 30, 2025, compared to a net loss of $28.309 million in 2024[68] Assets and Liabilities - Total current assets decreased to $143.720 million as of September 30, 2025, down from $231.224 million as of December 31, 2024[11] - Total liabilities decreased to $512.835 million as of September 30, 2025, from $675.094 million as of December 31, 2024[11] - Cash and cash equivalents were $106.661 million as of September 30, 2025, down from $183.237 million as of December 31, 2024[11] - Total stockholders' equity improved to $(22.050) million as of September 30, 2025, from $(67.316) million as of December 31, 2024[11] - As of September 30, 2025, total long-lived assets decreased to $367.7 million from $376.6 million as of December 31, 2024, representing a decline of approximately 2.4%[72] - The Company’s total property and equipment, net, was $93.5 million as of September 30, 2025, down from $100.6 million as of December 31, 2024, representing a decrease of about 7.0%[80] Cash Flow and Expenses - Net cash used in operating activities for the nine months ended September 30, 2025, was $20,781 thousand, compared to $12,015 thousand in 2024, indicating a 73.2% increase in cash outflow[23] - The company reported a net cash used in investing activities of $11,215 thousand for the nine months ended September 30, 2025, down from $23,505 thousand in 2024, reflecting a 52.4% decrease[23] - Cash paid for interest increased significantly to $4,531 thousand in 2025 from $292 thousand in 2024, marking a substantial rise of 1461.3%[26] - The Company’s total interest expense for the nine months ended September 30, 2025, was not explicitly stated but is included in the overall financial performance evaluation[71] - The total interest expense for the three months ended September 30, 2025, was $8.1 million, an increase of 42.5% compared to $5.7 million for the same period in 2024[140] Stock and Equity - The total number of common shares issued as of June 30, 2024, was 6,116,832, with an additional paid-in capital of $927,529,000[20] - The balance of common stock as of December 31, 2023, was $91,000, with 6,040,234 shares outstanding[20] - The Company completed a 1-for-15 reverse stock split in October 2025, adjusting the number of shares and exercise prices of outstanding equity awards accordingly[32] - The Company issued 10-year Warrants with a strike price of $11.25 per share, exercisable for 649,782 shares, as part of a financing arrangement[141] - The Series B Preferred Stock issued has an initial stated value of $1,000 per share and does not have a stated maturity or mandatory redemption[111] Debt and Financing - The Company issued Second Lien Notes due 2029 amounting to $115,000 thousand as part of a troubled debt restructuring[26] - The Company recognized a gain of $27.7 million from the September 2025 Debt Exchange, classified as Gain on troubled debt restructuring in the condensed consolidated statements of operations[101] - The Company exchanged $341.1 million in principal amount of 2026 Notes for $45.0 million in cash, $115.0 million in Second Lien Notes, 3,555,596 shares of common stock, and 26,551 shares of Series B Preferred Stock[101] - The 2029 Notes have an effective interest rate of 19.13% and a combined carrying amount of $180.4 million as of September 30, 2025[137] - The Company must maintain a minimum cash balance of $60.0 million as per the covenants of the 2029 Notes[133] Restructuring and Costs - The company incurred restructuring costs of $9.312 million in Q3 2025, significantly higher than $1.448 million in Q3 2024[13] - The Company initiated a restructuring plan in Q3 2025, resulting in a charge of $9.3 million, primarily for severance and other compensation costs[181] - Total stock-based compensation costs for Q3 2025 amounted to $2.635 million, compared to $5.375 million in Q3 2024, and for the nine months ended September 30, 2025, it was $11.604 million compared to $18.833 million in the same period of 2024[180] Legal and Regulatory Matters - The Company faced multiple derivative lawsuits, including Marti v. LoCascio, claiming unspecified losses due to acts related to the Damri federal securities lawsuit[187] - Starboard Value LP filed a lawsuit alleging common law fraud and seeking damages for trading losses, which was settled in July 2025 without impacting the Company's financial statements[188] - The Company is subject to various legal and regulatory proceedings that could impact its operations and financial position[191] Tax and Valuation - The Company recorded a tax provision of $0.4 million for the three and nine months ended September 30, 2025, related to non-U.S. subsidiaries and unrecognized tax benefits[198] - A valuation allowance of $234.6 million was recorded against certain deferred tax assets for the year ended December 31, 2024, with an estimated decrease of $2.6 million in 2025[199] Other Financial Metrics - The allowance for credit losses decreased to $5.507 million as of September 30, 2025, from $8.627 million at the beginning of the year[64] - The Company actively monitors foreign currency exchange risks and may consider using derivative financial instruments to mitigate such risks[261] - The Company discontinued all COVID-19 related products and services and is cooperating with governmental inquiries regarding its previous offerings[190]