Financial Performance - Mesa Air Group reported an operating loss of $9.2 million for the three months ended September 30, 2025, compared to an operating loss of $17.0 million for the same period in 2024, indicating an improvement in performance [157]. - Total operating revenues decreased by $24.6 million, or 21.3%, to $90.7 million for the three months ended September 30, 2025, compared to $115.3 million in 2024 [161]. - Total operating revenue decreased by $79.4 million, or 22.2%, to $278.2 million for the nine months ended September 30, 2025 compared to the same period in 2024 [175]. - The company reported a net loss of $51.9 million for the nine months ended September 30, 2025, primarily due to a $53.4 million impairment expense related to held-for-sale assets [198]. - Adjusted EBITDA for the three months ended September 30, 2025, was $3.3 million, compared to $14.7 million for the same period in 2024 [192]. - Adjusted EBITDAR for the nine months ended September 30, 2025, was $19.4 million, down from $57.0 million in the same period of 2024 [192]. Revenue Breakdown - Contract revenue decreased by $27.8 million, or 29.7%, to $66.0 million, primarily due to fewer aircraft under contract [161]. - Contract revenue decreased by $98.9 million, or 32.6%, to $204.3 million primarily due to reduced block hours flown and fewer aircraft under contract [175]. - Pass-through and other revenue increased by $3.3 million, or 15.2%, to $24.7 million, attributed to an increase in pass-through maintenance related to the E-175 fleet [161]. Operating Expenses - Operating expenses decreased by $32.4 million, or 24.5%, to $99.9 million for the three months ended September 30, 2025, compared to $132.3 million in 2024 [162]. - Flight operations expense decreased by $2.2 million, or 5.8%, to $35.7 million, driven by decreased pilot training expenses and lower pilot wages [162]. - Maintenance expense decreased by $5.3 million, or 11.2%, to $42.3 million, primarily due to a decrease in labor and other expenses [163]. - Depreciation and amortization expense decreased by $4.9 million, or 68.6%, to $2.3 million, primarily due to the retirement and sale of several aircraft [162]. - Total maintenance costs decreased by $5.3 million, or 11.2%, to $42.3 million for the three months ended September 30, 2025 compared to the same period in 2024 [164]. - Aircraft rent expense decreased by $3.1 million, or 88.7%, to $0.4 million for the three months ended September 30, 2025 compared to the same period in 2024 [164]. - Depreciation and amortization expense decreased by $15.2 million, or 56.7%, to $11.6 million for the nine months ended September 30, 2025 compared to the same period in 2024 [180]. - Asset impairment charges decreased by $15.5 million, or 67.8%, to $7.3 million, reflecting improved asset management [162]. Cash Flow and Liquidity - For the nine months ended September 30, 2025, the company reported a net cash used in operating activities of $34.6 million, compared to a net cash provided of $42.1 million for the same period in 2024 [217][220][221]. - The company experienced a net cash flow provided by investing activities of $95.5 million for the nine months ended September 30, 2025, primarily from proceeds of $100.5 million from the sale of aircraft and engines [223]. - Net cash used in financing activities was $62.0 million for the nine months ended September 30, 2025, all attributed to payments on long-term debt and finance leases [225]. - As of September 30, 2025, the company had cash and cash equivalents of $38.7 million and $33.8 million in assets held for sale [215]. - The company has $10.7 million of borrowing capacity under the United Revolving Credit Facility as of September 30, 2025 [199]. - The company expects to meet its cash obligations for the next twelve months following the issuance of its Form 10-Q, alleviating substantial doubt regarding its ability to continue as a going concern [211]. Debt and Liabilities - As of September 30, 2025, the company had $95.0 million in secured indebtedness, with $68.0 million classified as current debt [215]. - The company had $3.0 million in restricted cash as of September 30, 2025, required to collateralize outstanding letters of credit [216]. - The company has no fixed-rate debt as of September 30, 2025, with all borrowings based on SOFR [233]. Future Outlook and Events - Mesa's merger with Republic is expected to close on November 25, 2025, with Republic stockholders holding approximately 88% interest in the surviving corporation [202]. - The company faced increased costs due to the transition of operations to United, impacting financial results and cash flows [197]. - The state net operating losses will expire between 2026 and 2042, while federal net operating losses can offset only 80% of taxable income in a given year [186]. - A hypothetical 100 basis point change in market interest rates would have affected interest expense by approximately $1.0 million in the nine months ended September 30, 2025 [232].

Financial Performance - Net revenues for the three months ended September 30, 2025, were $5,783,182, a decrease from $6,440,049 for the same period in 2024, representing a decline of approximately 10.2%[200] - Net income for the three months ended September 30, 2025, was $2,232,855, compared to a net loss of $2,569,518 for the same period in 2024[200] - For the nine months ended September 30, 2025, net revenues were $19,220,445, down from $19,884,213 in 2024, indicating a decrease of about 3.3%[200] - Revenue for the three months ended September 30, 2025, decreased by $656,867, or 10%, compared to the same period in 2024, primarily due to a decrease in build revenue[238] - Revenue for the nine months ended September 30, 2025, decreased by $663,768 (3%) to $19,220,445 compared to $19,884,213 in the same period of 2024[246] - The company reported a net loss of $4,787,756, a decrease of $2,671,119 (36%) compared to a net loss of $7,458,875 in the same period of 2024[246] Debt and Financing - The company entered into a Securities Purchase Agreement on October 6, 2023, issuing a senior secured convertible note for a principal amount of $15,819,209[204] - The December 2023 Convertible Note has a maturity date of December 12, 2026, and is secured by a first priority perfected security interest in all existing and future assets of the company[205] - The company executed a Business Loan and Security Agreement on February 20, 2025, receiving a term loan of $1,575,000, which included an administrative agent fee of $75,000[216] - A new business loan agreement was entered into on April 4, 2025, for a principal amount of $1,824,300, with repayments structured over 69 equal weekly payments[218] - The net proceeds from the new loan were used to pay off the Agile Loan in a discounted amount of $1,749,300, including principal and interest[219] - Interest expense increased by $1,680,635, or 120%, for the three months ended September 30, 2025, due to additional debt taken out[243] - Interest expense increased by $3,200,138 (83%) to $7,044,791 due to additional debt and early repayment of the Agile Loan[251] - Total other income increased by $8,915,282, primarily due to gains on the fair value of conversion of Notes Payable to Series B and C Preferred Stock[250] Operating Expenses - Cost of goods sold increased by $3,021,678, or 68%, for the three months ended September 30, 2025, leading to a gross loss of $1,671,005[238] - Operating expenses rose by $771,097, or 29%, for the three months ended September 30, 2025, driven mainly by increased general and administrative costs[241] - Gross profit fell by $4,106,005 (73%) to $1,482,011 due to increased costs of materials, shipping, customs fees, and labor associated with builds[248] - Operating expenses rose by $3,376,213 (43%) to $11,141,113, primarily driven by a 52% increase in general and administrative expenses[249] Business Operations - The company operates a logistics center in the UK to source and transport over-25-year-old vehicles for restoration[203] - The company employs 95 individuals at its headquarters, known as the "RoverDome," located in Kissimmee, FL[203] - The company plans to expand its production capabilities by relocating quality and warranty services to a new facility in 2025[228] - The company introduced the Jaguar E-type in 2022, which has a higher price point and gross margin compared to traditional models[228] - The company opened new retail locations in West Palm Beach, FL, and Nantucket, MA, in 2025 to enhance marketing channels[229] Cash Flow and Liquidity - Cash used in operating activities was $5,942,498, with $1,457,749 allocated to fund working capital[262] - Financing activities provided cash of $4,623,329, mainly from proceeds of Convertible Notes and Series C Preferred Stock[264] - The company's liquidity condition raises substantial doubt about its ability to continue as a going concern within one year[260] Accounting and Financial Reporting - The Company provides for estimated warranty costs at the time revenue is recognized, influenced by historical warranty costs per vehicle[275] - Sales, value add, and other taxes collected on behalf of third parties are excluded from revenue, with contracts typically having a payment period of one year or less[276] - Shipping and handling costs related to customer contracts are recorded as part of the cost of goods[277] - Inventories are measured at the lower of cost or net realizable value, with finished goods inventory including completed vehicles not yet delivered[278] - The estimated fair value of cash, accounts receivable, and accounts payable approximates their carrying amounts due to short maturities[279] - The Company assesses warrants for liability or equity classification based on specific accounting standards, impacting how changes in fair value are recorded[280] - Convertible debt instruments are evaluated for liability classification and whether conversion features should be accounted for separately[281] - Redeemable equity instruments are classified based on whether they are subject to unconditional obligations for redemption, affecting their measurement[282] - The Company is not required to provide quantitative and qualitative disclosures about market risk as a smaller reporting company[283]

Financial Performance - Net revenues for the three months ended September 30, 2025, were $5,783,182, a decrease from $6,440,049 for the same period in 2024, representing a decline of approximately 10.2%[200] - Net income for the three months ended September 30, 2025, was $2,232,855, compared to a net loss of $2,569,518 for the same period in 2024[200] - The company had net revenues of $19,220,445 for the nine months ended September 30, 2025, down from $19,884,213 for the same period in 2024, indicating a decrease of about 3.3%[200] - Revenue for the three months ended September 30, 2025, decreased by $656,867, or 10%, compared to the same period in 2024, primarily due to a decrease in build revenue[238] - Revenue for the nine months ended September 30, 2025, decreased by $663,768 (3%) to $19,220,445 compared to $19,884,213 in the same period of 2024[246] - Gross profit fell by $4,106,005 (73%) to $1,482,011 due to increased costs of materials, shipping, customs fees, and labor[248] - Adjusted EBITDA for the three months ended September 30, 2025, was $(4,656,467), a decrease of $4,200,774 compared to the same period in 2024[235] Expenses and Costs - Cost of goods sold increased by $3,021,678, or 68%, for the three months ended September 30, 2025, leading to a gross loss of $1,671,005[238] - Operating expenses rose by $771,097, or 29%, driven mainly by increased general and administrative costs and a provision for credit losses[241] - Operating expenses increased by $3,376,213 (43%) to $11,141,113, primarily driven by a 52% rise in general and administrative expenses[249] - Interest expense increased by $1,680,635, or 120%, for the three months ended September 30, 2025, due to additional debt taken out[243] - Interest expense rose by $3,200,138 (83%) to $7,044,791 due to additional debt and early repayment of the Agile Loan[251] Financing Activities - The company entered into a Securities Purchase Agreement on October 6, 2023, issuing a senior secured convertible note for a principal amount of $15,819,209[204] - The December 2023 Convertible Note has a maturity date of December 12, 2026, and is secured by a first priority perfected security interest in all existing and future assets of the company[205] - The company received a term loan of $1,575,000 under a Business Loan and Security Agreement on February 20, 2025[216] - A new business loan agreement was entered into on April 4, 2025, providing a term loan of $1,824,300, to be repaid in 69 equal weekly payments of $35,693[218] - The net proceeds from the new loan were used to pay off the Agile Loan in the discounted amount of $1,749,300, including principal and interest[219] - Financing activities provided cash of $4,623,329, primarily from proceeds of Convertible Notes and Series C Preferred Stock[264] Liquidity and Going Concern - Cash and cash equivalents were $157,682 as of September 30, 2025, indicating liquidity challenges[257] - Net cash used in operating activities was $5,942,498 for the nine months ended September 30, 2025, compared to $7,199,988 in 2024[262] - The company faces substantial doubt about its ability to continue as a going concern within one year due to liquidity concerns[260] Operational Developments - The company operates a logistics center in the UK to source and transport over-25-year-old vehicles for restoration[203] - The company employs 95 individuals at its headquarters, known as the "RoverDome," located in Kissimmee, FL[203] - The company plans to relocate quality and warranty services to a new facility in 2025, which will also serve as a warranty, used vehicle sales, and service center[228] - The company has opened new marketing channels in 2025, including retail locations in West Palm Beach, FL, and Nantucket, MA[229] - The company increased production by approximately 20% in 2023 and added an additional 10,000 sq. ft. of space in the second half of 2024 to accommodate storage needs[227] Other Income and Gains - Total other income, net increased by $8,936,528 for the three months ended September 30, 2025, primarily due to a gain on the fair value conversion of Notes Payable to Series C Preferred Stock[242] - Total other income increased by $8,915,282, primarily from gains on the fair value of conversion of Notes Payable to Series B and C Preferred Stock[250] Customer and Inventory Information - As of September 30, 2025, customer deposits amounted to $6,893,657, with no deferred revenue for vehicles completed but not titled[254] - Inventories are measured at the lower of cost or net realizable value, with finished goods inventory including completed vehicles not yet delivered[278] Accounting and Reporting - The Company provides for estimated warranty costs at the time revenue is recognized, influenced by historical warranty costs per vehicle[275] - Sales and other taxes collected on behalf of third parties are excluded from revenue, with contracts typically having a payment period of one year or less[276] - Shipping and handling costs related to customer contracts are recorded as part of the cost of goods[277] - The estimated fair value of cash, accounts receivable, and accounts payable approximates their carrying amounts due to short maturities[279] - The Company assesses warrants for liability or equity classification based on specific accounting standards, impacting how changes in fair value are recorded[280] - Convertible debt instruments are evaluated for liability classification and whether conversion features should be accounted for separately[281] - Redeemable equity instruments are classified based on whether they are subject to unconditional obligations for redemption, affecting their measurement[282] - The Company is not required to provide market risk disclosures as a smaller reporting company[283]

Revenue Growth - Total revenue increased 3.2% year-over-year to $20.2 million for Q3 2025, compared to $19.6 million for Q3 2024[4] - Total revenue for the first nine months of 2025 increased 17.8% year-over-year to $60.9 million, up from $51.7 million for the same period in 2024[4] - Residential real estate services revenue rose by approximately $8.2 million, or 19.2%, to $50.8 million for the nine months ended September 30, 2025[4] - Revenue for the three months ended September 30, 2025, was $20,216,143, an increase from $19,593,036 in the same period of 2024, representing a growth of approximately 3.2%[20] Profit and Loss - Gross profit for the first nine months of 2025 increased by approximately $714 thousand, or 16.3%, to $5.1 million[4] - Gross profit for the nine months ended September 30, 2025, was $5,098,077, compared to $4,384,214 for the same period in 2024, reflecting an increase of about 16.3%[20] - Net loss for Q3 2025 was $5.5 million, or $(5.44) per share, compared to a net loss of $3.4 million, or $(16.49) per share, for Q3 2024[8] - The net loss attributable to common stockholders for the three months ended September 30, 2025, was $5,533,352, compared to a net loss of $3,372,206 in the same period of 2024, indicating a deterioration of about 63.9%[20] - The company reported a loss from operations of $(4,988,857) for the three months ended September 30, 2025, compared to $(1,747,790) in the same period of 2024, representing an increase in losses of approximately 185.5%[20] Operating Expenses - Total operating expenses for Q3 2025 were $6.7 million, up from $3.4 million in Q3 2024, resulting in a loss from operations of $5.0 million[7] - Total operating expenses for the three months ended September 30, 2025, were $6,697,038, significantly higher than $3,383,696 in the same period of 2024, marking an increase of approximately 97.5%[20] Financing and Cash Position - The company secured $1.25 billion in financing facilities to support its next-generation AI data center strategy and pursue acquisitions[5] - Cash and restricted cash increased to approximately $6.4 million as of September 30, 2025, compared to $3.2 million as of December 31, 2024[5] Market Outlook - The global market for modern data centers is projected to grow from approximately $347.6 billion in 2024 to $652.0 billion by 2030, representing a CAGR of about 11.2%[5] Shareholder Information - Weighted average shares used in computing net loss per share for the three months ended September 30, 2025, were 1,016,833, compared to 204,481 in the same period of 2024, indicating a significant increase in shares outstanding[20]

Financial Performance - Net sales for Q4 2025 were $2,247.0 million, an increase of 11.8% or $236.9 million compared to $2,010.1 million in Q4 2024[5] - Gross profit for Q4 2025 was $602.1 million, representing 26.8% of net sales, an increase of 4.6% or $26.7 million from $575.4 million in Q4 2024[5] - Net earnings for Q4 2025 were $51.0 million, a decrease of 37.5% or $30.6 million compared to $81.6 million in Q4 2024[7] - Adjusted EBITDA for Q4 2025 was $425.4 million, an increase of 22.0% or $76.7 million compared to $348.7 million in Q4 2024[9] - For fiscal year 2025, net sales were $8,158.1 million, an increase of $235.4 million compared to $7,922.7 million in fiscal year 2024[10] - Fiscal year 2025 Adjusted EBITDA was $1,538.8 million, an increase of 9.6% or $135.2 million compared to $1,403.6 million in fiscal year 2024[13] - Diluted earnings per share for FY 2025 were $5.51, a decrease from $5.64 in FY 2024[42] - Operating profit for Q4 FY 2025 was $168.4 million, compared to $190.9 million in Q4 FY 2024, reflecting a decline of 11.8%[42] Segment Performance - The Foodservice segment reported Q4 2025 net sales of $718.0 million, an increase of 20.4% or $121.9 million compared to Q4 2024[19] - Segment profit for Foodservice increased significantly to $399.7 million, up 29.7% from $308.1 million in 2024[48] - Segment Profit for Post Consumer Brands was $493.9 million, representing 12.3% of Net Sales[74] - Operating Profit for the Refrigerated segment was $399.7 million, with a segment profit margin of 15.1%[74] - Segment Profit for the Weetabix segment was $74.0 million, accounting for 13.6% of Net Sales[74] Cash Flow and Capital Expenditures - Operating activities generated cash of $998.3 million, up from $931.7 million in the previous year, reflecting a growth of 7.0%[46] - Free Cash Flow for the year ended September 30, 2025, was $488.1 million, compared to $502.2 million in 2024[77] - Capital expenditures for the year ended September 30, 2025, were $510.2 million[77] - Capital expenditures for FY 2026 are expected to range from $350 million to $390 million, with $80 million to $90 million allocated for foodservice investments[29] Shareholder Actions - Post repurchased 2.5 million shares for $273.8 million at an average price of $106.48 per share in Q4 FY 2025[28] - The company had $282.6 million remaining under its share repurchase authorization as of November 19, 2025[28] Assets and Liabilities - Total assets increased to $13,528.4 million as of September 30, 2025, up from $12,854.2 million in 2024, representing a growth of 5.2%[44] - Total current liabilities rose to $1,213.1 million, an increase of 28.5% from $944.9 million in 2024[44] - Long-term debt increased to $7,421.7 million, up from $6,811.6 million, marking a rise of 8.9%[44] Impairments and Expenses - The company recorded a non-cash goodwill impairment charge of $29.8 million in Q4 2025 related to its Cheese and Dairy reporting unit[23] - The company reported an impairment of goodwill of $29.8 million in the Refrigerated segment[74] - General corporate expenses for the year ended September 30, 2025, totaled $221.8 million[74] - Depreciation and amortization expenses for the year ended September 30, 2025, were $243.4 million[74] Leadership Changes - The company announced a leadership change with Robert V. Vitale becoming Chairman of the Board effective December 16, 2025[32] Guidance and Expectations - The company expects fiscal year 2026 Adjusted EBITDA to range between $1,500 million and $1,540 million[7] - Adjusted EBITDA guidance for FY 2026 is projected to be between $1,500 million and $1,540 million, including contributions from 8th Avenue's pasta business[29]

Revenue Performance - Revenue for Q4 2025 was $30.7 million, a decrease of 13.3% from $35.4 million in Q4 2024[2] - For the fiscal year 2025, total revenue was $110.8 million, down 18.3% from $135.6 million in fiscal year 2024[3] - The Smart Water segment generated $8.5 million in Q4 2025, a decrease of 28% from $11.9 million in Q4 2024, but annual revenue increased by 10% to $35.8 million[9] - Revenue from the Energy Solutions segment for Q4 2025 was $15.7 million, an 11% decrease from $17.6 million in Q4 2024, with a 35% annual decline to $50.7 million[10] - The Intelligent Industrial segment reported $6.4 million in Q4 2025, a 9% increase from $5.8 million in Q4 2024, while annual revenue decreased by 4% to $24.0 million[11] - Total revenue for the year ended September 30, 2025, was $110.803 million, a decrease of 18.3% compared to $135.598 million in 2024[25] - The Smart Water segment generated revenue of $35.816 million for the year ended September 30, 2025, an increase of 10.4% from $32.434 million in 2024[25] - The Energy Solutions segment reported a revenue decline of 35% to $50.706 million in 2025, down from $77.977 million in 2024[25] Net Loss and Financial Position - Net loss for Q4 2025 was $9.1 million, or $(0.71) per diluted share, compared to a net loss of $12.9 million, or $(1.00) per diluted share in Q4 2024[2] - The net loss for the year ended September 30, 2025, was $9.724 million, compared to a net loss of $6.578 million in 2024[23] - The company used $22.2 million in cash from operating activities for the twelve-month period ended September 30, 2025[12] - Cash and cash equivalents increased to $26.338 million as of September 30, 2025, from $6.895 million in 2024, representing a significant increase of 282.5%[23] - Total current liabilities rose to $24.430 million in 2025, up from $17.197 million in 2024, indicating a 42.5% increase[21] Assets and Inventory - Total assets increased slightly to $153.037 million as of September 30, 2025, compared to $152.194 million in 2024[21] - The company reported a significant inventory obsolescence expense of $3.071 million for the year ended September 30, 2025[23] Strategic Initiatives - The company anticipates continued market demand for Hydroconn and Aquana solutions, particularly in international markets[5] - Geospace Technologies acquired Geovox Security, Inc. to enhance its Intelligent Industrial segment and increase recurring revenue[7] Operating Performance - Operating loss from the Energy Solutions segment was $4.992 million for the three months ended September 30, 2025, compared to an operating income of $5.567 million in the same period of 2024[25] - The company made a payment of $1.750 million for a business acquisition during the year[23]

Financial Performance - Net income for fiscal year 2025 was $335.6 million, an increase of 15.9% from $289.8 million in 2024[38] - NFE (Non-GAAP financial measure) for fiscal year 2025 was $329.6 million, up 13.3% from $290.8 million in 2024[38] - Total operating revenue for NJNG in fiscal year 2025 reached $1.3 billion, a 27.8% increase from $1.02 billion in 2024[44] - Residential operating revenue increased to $781.3 million in 2025, up 21.7% from $642.4 million in 2024[44] Customer Base and Service Delivery - NJNG's service territory covers 1,538 square miles and serves an estimated population of 1.7 million people[42] - As of September 30, 2025, NJNG had 13,121 residential and 7,846 commercial and industrial customers utilizing transportation services[63] - NJNG maintains firm transportation and storage capacity agreements totaling 914,163 Dths for reliable service delivery[51] Natural Gas Supply and Management - NJNG purchased natural gas from approximately 63 suppliers in fiscal 2025, with over 10% sourced from two suppliers[49] - The company utilizes financial derivative instruments to mitigate the impact of volatile wholesale natural gas prices on customers[58] - NJNG expects to meet natural gas requirements for existing and projected firm customers and plans to renegotiate contracts as needed[59] Environmental and Remediation Efforts - NJNG estimates future expenditures for environmental remediation of former MGP sites will range from approximately $144.3 million to $200.2 million[88] - As of September 30, 2025, NJNG recorded an MGP remediation liability of $167.0 million on the Consolidated Balance Sheets[89] - NJNG is involved in administrative proceedings with the NJDEP for the remedial cleanup of former MGP sites dating back to the late 1800s[200] Employee and Workforce Management - As of September 30, 2025, the Company employed 1,376 employees, a slight increase from 1,372 employees as of September 30, 2024[91] - NJNG and NJRHS have collective bargaining agreements with the Union, with contracts ratified on August 6, 2025, and July 29, 2025, respectively, covering wage increases and benefits[91] - The Company offers competitive compensation packages and periodically reviews employee compensation to ensure competitiveness within the industry[93] Risks and Challenges - The company faces risks related to attracting and retaining a qualified workforce, which is essential for implementing its business strategy and maintaining operations[114] - Weather patterns significantly influence demand for natural gas, with milder winters or cooler summers potentially leading to decreased revenues and cash flows[116] - Climate change poses risks that could affect the cost of providing natural gas and the demand for it, impacting the company's financial performance[119] Regulatory and Compliance Issues - Regulatory changes and compliance costs may significantly affect the company's operations and profitability, particularly regarding natural gas pricing and supply[125] - NJNG's ability to obtain rate increases and maintain authorized rates of return may be impacted by regulatory actions and the transition to new information technology systems[133] - Regulatory decisions by the BPU will impact the recovery of costs and the rate of return on invested capital for NJNG[217] Cybersecurity and Technology Risks - The company continues to face risks from cyberattacks, which could adversely affect business operations and financial results[136] - The reliance on information technology for managing natural gas distribution and trading operations exposes the company to potential disruptions and data breaches[137] - The Audit Committee oversees the company's cybersecurity risk management practices and receives updates at least quarterly from senior leadership[185] Market and Economic Factors - Economic and political instability could create uncertainty, increasing the cost of capital and impairing access to financial markets[161] - Inflation and rising natural gas costs may increase customer debt levels and adversely affect collections[149] - Changes in customer growth, particularly in the housing market, could negatively impact the company's Utility Gross Margin and cash flows[145] Investments and Acquisitions - Acquisitions involve risks, including the potential failure to realize anticipated synergies and growth opportunities[160] - The company is exposed to market risks that could impact the value of its transportation and storage contracts[148] Solar Energy Initiatives - CEV operates approximately 479 MW of solar capacity across seven states as of September 30, 2025[65] - CEV sold its residential solar portfolio on November 25, 2024, to a third party[66] - NJR's investments in solar energy projects face risks related to construction, permitting, and regulatory approvals, which could impact project viability[106]

Exhibit 99.1 Corporate Contact: Ioannis Zafirakis Director, Co-Chief Financial Officer, Chief Strategy Officer, Treasurer and Secretary Telephone: + 30-210-9470100 Email: izafirakis@dianashippinginc.com Website: www.dianashippinginc.com X: @Dianaship Investor Relations/Media Contact: Nicolas Bornozis / Daniela Guerrero Capital Link, Inc. 230 Park Avenue, Suite 1540 New York, N.Y. 10169 Tel.: (212) 661-7566 Email: diana@capitallink.com DIANA SHIPPING INC. REPORTS FINANCIAL RESULTS FOR THE THIRD QUARTER AND N ...

Financial Results - Wellgistics Health, Inc. reported financial results for the quarter ended September 30, 2025, with a press release issued on November 20, 2025[5]. - The press release includes forward-looking statements regarding the company's projects and potential financial performance[9]. - The press release is attached as Exhibit 99.1, which contains detailed financial results and operational insights[11]. Company Classification and Regulations - The company is classified as an emerging growth company under the Securities Act of 1933[4]. - The company’s Registration Statement on Form S-1 was declared effective by the SEC on September 25, 2025, discussing various risks associated with forward-looking statements[9]. Financial Metrics and Guidance - The company has not yet disclosed specific financial metrics or performance indicators in the provided documents[5]. - The company has not provided specific guidance or outlook for future performance in the available documents[5]. Company Information - The company’s principal executive offices are located in Tampa, FL[1]. - The trading symbol for Wellgistics Health, Inc. is WGRX, listed on The Nasdaq Capital Market LLC[3]. Product and Market Information - The report does not include any information on new products, technologies, market expansion, or acquisitions[5].

Financial Performance - Total Net Sales for Q3 2025 were $1.594 billion, a decrease of $16 million, or 1.0%, compared to Q3 2024[96] - Operating Income for Q3 2025 was $161 million, down $57 million, or 26.1%, with an Operating Income rate of 10.1%, down from 13.5%[96] - Gross Profit for Q3 2025 was $658 million, a decrease of $42 million, with a Gross Profit rate of 41.3%, down from 43.5% in Q3 2024[111] - For year-to-date 2025, total Net Sales were $4.567 billion, an increase of $47 million, or 1.1%, compared to year-to-date 2024[121] - Operating Income for year-to-date 2025 was $527 million, a decrease of $61 million compared to year-to-date 2024, with an Operating Income rate of 11.5%[118] - Gross Profit for year-to-date 2025 was $1.945 billion, an increase of $12 million, with a Gross Profit rate of 42.6%, down from 42.8% in year-to-date 2024[122] - Net sales for year-to-date 2025 were $4,358 million, with a gross profit of $1,812 million[164] Expenses and Cost Management - Direct Net Sales decreased by $22 million, or 7.0%, primarily due to a decline in fulfilled orders[110] - General, Administrative and Store Operating Expenses increased to $497 million, up $15 million, with a rate of 31.2%, compared to 30.0% in Q3 2024[113] - Total General, Administrative and Store Operating Expenses were $1.418 billion for year-to-date 2025, an increase of $73 million, with an expense rate of 31.0%[124] - The company plans to deliver $250 million in cost savings over the next two years to invest in revenue-generating initiatives[103] Cash Flow and Capital Expenditures - Net cash provided by operating activities for year-to-date 2025 was $225 million, including net income of $246 million[134] - Capital expenditures for year-to-date 2025 were $174 million, with plans for approximately $240 million in capital expenditures for 2025 focused on real estate and technology[136][138] - Cash and cash equivalents at the end of year-to-date 2025 were $236 million, down from $674 million at the beginning of the year[133] Debt and Interest - Average daily borrowings for Q3 2025 were $3.916 billion, with an average borrowing rate of 7.0%[115] - Interest Expense for year-to-date 2025 was $208 million, a decrease from $236 million in year-to-date 2024, due to lower average daily borrowings and borrowing rates[127] - Cash paid for interest in year-to-date 2025 was $181 million, down from $217 million in the same period of 2024[147] - As of November 1, 2025, total long-term debt was $3,890 million, a slight decrease from $3,884 million in February 2025[147] - The principal value of outstanding debt as of November 1, 2025, is $3,916 million, with an estimated fair value of $4,037 million[180] Shareholder Returns - The company repurchased 11.450 million shares for $343 million during year-to-date 2025[131] - Total dividends paid in 2025 amounted to $126 million, with a per share dividend of $0.60, consistent with 2024's total of $134 million[145] Risk Management - The company’s Canadian dollar earnings are subject to foreign exchange rate risk due to sourcing merchandise through U.S. dollar transactions[175] - Royalties from international partners are calculated based on local currency sales, exposing the company to foreign currency exchange rate fluctuations[176] - The company actively monitors credit risk by limiting exposure to any single financial institution and reviewing the credit standing of partners[179] Corporate Strategy - The transformation plan, "The Consumer First Formula," focuses on attracting new, younger customers and creating innovative products[98] Ratings and Facilities - The corporate credit rating from Moody's is Ba2 and from S&P is BB+, both with a stable outlook as of November 1, 2025[157] - The ABL Facility was amended in May 2025, extending the expiration date to May 2030 and removing a 0.10% interest rate credit spread adjustment[152] - The company had $741 million available under the Asset-backed Revolving Credit Facility as of November 1, 2025, after accounting for $9 million in outstanding letters of credit[154] Asset Management - The investment portfolio primarily consists of interest-bearing instruments, including U.S. government obligations and AAA-rated money market funds, with a focus on preserving principal and maximizing interest income[177] - All outstanding long-term debt as of November 1, 2025, has fixed interest rates, limiting exposure to interest rate changes[178] - The carrying values of Accounts Receivable, Accounts Payable, and Accrued Expenses approximate their fair values due to short maturities as of November 1, 2025[181] - The company had contingent obligations of $220 million related to lease payments as of November 1, 2025[165]