Contact: Sebastien Reyes Director of Investor Relations U-Haul Holding Company (602) 263-6601 Sebastien_Reyes@uhaul.com U-HAUL HOLDING COMPANY REPORTS SECOND QUARTER FISCAL 2026 FINANCIAL RESULTS RENO, Nev. (November 5, 2025)-- U-Haul Holding Company (NYSE: UHAL, UHAL.B), parent of U-Haul International, Inc., Oxford Life Insurance Company, Repwest Insurance Company and Amerco Real Estate Company, today reported net earnings available to common shareholders for its second quarter ended September 30, 2025, of ...

Revenue Performance - RCM Technologies reported revenue of $70.3 million for the thirteen weeks ended September 27, 2025, a 16.4% increase from $60.4 million in the prior year[3] - For the thirty-nine weeks ended September 27, 2025, revenue was $232.9 million, a 15.6% increase from $201.5 million in the prior year[4] - Consolidated revenue for the thirteen weeks ended September 27, 2025, was $70,289,000, an increase from $60,365,000 in the same period last year, representing a growth of 16.0%[19] - For the thirty-nine weeks ended September 27, 2025, consolidated revenue reached $232,928,000, up from $201,468,000 in the prior year, reflecting an increase of 15.6%[19] Profitability - Gross profit for the current quarter was $19.4 million, reflecting an 8.8% increase compared to $17.8 million in the comparable prior quarter[3] - The gross profit for the thirty-nine weeks ended September 27, 2025, was $63,665,000, an increase from $58,209,000 in the prior year, marking a growth of 9.4%[19] - GAAP net income for the current quarter was $2.3 million, or $0.30 per diluted share, down from $2.7 million, or $0.35 per diluted share, in the prior year[3] - The net income for the thirteen weeks ended September 27, 2025, was $2,259,000, a decrease from $2,746,000 in the same period last year, showing a decline of 17.7%[23] - Adjusted net income per diluted share for the current period was $1.73, an increase of 12.3% from $1.54 in the prior year[4] Expenses and Cash Flow - Selling, general and administrative expenses for the current quarter were $14.9 million, compared to $13.0 million in the prior year[11] - The company reported a net cash used in operating activities of $1,262,000 for the thirteen weeks ended September 27, 2025, compared to $4,344,000 in the same period last year, indicating an improvement in cash flow[23] Balance Sheet - Total current assets as of September 27, 2025, were $94,927,000, slightly down from $97,038,000 at December 28, 2024[21] - Total liabilities decreased to $88,437,000 as of September 27, 2025, compared to $98,593,000 at December 28, 2024, a reduction of 10.3%[21] - Cash and cash equivalents decreased to $1,309,000 as of September 27, 2025, from $4,729,000 at December 28, 2024, representing a decline of 72.3%[21] - The company’s total stockholders' equity increased to $41,378,000 as of September 27, 2025, from $33,484,000 at December 28, 2024, reflecting a growth of 23.5%[21] Future Outlook - RCM Technologies expects the fourth quarter to yield the highest quarterly gross profit and adjusted EBITDA in fiscal 2025[5] - The company experienced adjusted EBITDA of $5.5 million for the current quarter, slightly down from $5.6 million in the prior year[3] - The company anticipates continued growth in its healthcare segment, contributing to overall operational performance[5] - The company reported a record engineering backlog as of the end of October 2025, indicating strong momentum heading into 2026[5]

Financial Performance - For the three months ended September 30, 2025, revenue increased to $802.8 million, a 11.6% year-over-year growth from $719.1 million in 2024[112] - The gross profit margin improved to 27.0% in Q3 2025, compared to 25.2% in Q3 2024, reflecting better cost management[112] - Net income for the three months ended September 30, 2025, was $78.6 million, a 43% increase from $54.9 million in the same period of 2024[112] - The adjusted EBITDA for the nine months ended September 30, 2025, was $364.0 million, up from $298.6 million in the same period of 2024, representing a 22% increase[113] - Revenue for the nine months ended September 30, 2025, increased by $188.0 million, or 9%, to $2.2 billion compared to $2.0 billion for the same period in 2024[131] - Adjusted net income increased by $25.2 million, or 39%, for the three months ended September 30, 2025, primarily due to the increase in adjusted income from operations and lower interest expense[130] - Adjusted net income rose by $50.5 million, or 35%, for the nine months ended September 30, 2025, driven by increased adjusted income from operations and lower interest expenses[146] Revenue Growth - Back-up care revenue grew by 26% year-over-year due to increased utilization, while full service center-based child care revenue increased by 6%[108] - Revenue from back-up care services increased by $51.6 million, or 26%, to $253.4 million for the three months ended September 30, 2025, driven by increased utilization[116] - Revenue from back-up care services for the nine months ended September 30, 2025, increased by $91.7 million, or 20%, compared to the same period in 2024[133] Operational Efficiency - Occupancy rates improved, with 44% of monitored centers being more than 70% enrolled as of September 30, 2025[108] - Income from operations increased by $31.4 million, or 35%, to $120.8 million for the three months ended September 30, 2025, representing 15.1% of revenue[124] - Income from operations rose by $70.8 million, or 36%, to $269.2 million for the nine months ended September 30, 2025, with significant contributions from the back-up care and full service center-based child care segments[141] - Adjusted EBITDA increased by $35.1 million, or 29%, for the three months ended September 30, 2025, primarily due to contributions from both the back-up care and full service center-based child care segments[129] - Adjusted EBITDA increased by $65.4 million, or 22%, for the nine months ended September 30, 2025, primarily due to higher utilization in the back-up care segment and enrollment growth in child care services[145] Cost Management - Cost of services increased by $111.8 million, or 7%, to $1.6 billion for the nine months ended September 30, 2025, primarily due to increased personnel costs[134] - Cost of services in the back-up care segment increased by $37.8 million, or 15%, to $285.3 million for the nine months ended September 30, 2025 compared to the prior year[136] - Selling, General and Administrative (SGA) expenses increased by $16.9 million, or 6%, to $281.4 million for the nine months ended September 30, 2025, consistent at 13% of revenue[139] Tax and Interest Expenses - Income tax expense for the three months ended September 30, 2025, was $30.1 million at an effective tax rate of 28%, compared to $22.9 million at 29% for the same period in 2024[126] - Income tax expense was $64.7 million for the nine months ended September 30, 2025, with an effective tax rate of 27%, compared to $50.0 million and 31% in the prior year[143] - Net interest expense decreased to $33.1 million for the nine months ended September 30, 2025, down from $37.3 million in the same period in 2024, due to lower interest rates and outstanding debt[142] Cash Flow and Investments - Net cash provided by operating activities was $202.8 million for the nine months ended September 30, 2025, a decrease from $216.8 million in the same period in 2024[162] - Cash used in investing activities decreased to $63.5 million for the nine months ended September 30, 2025, compared to $92.7 million in the same period in 2024[163] - The company had net investments of $58.9 million in fixed asset purchases during the nine months ended September 30, 2025, down from $65.3 million in the prior year[164] - Cash used in financing activities was $142.8 million for the nine months ended September 30, 2025, compared to $95.8 million in the same period in 2024[165] Debt and Shareholder Returns - Total debt as of September 30, 2025, was $916.8 million, down from $946.9 million as of December 31, 2024[169] - The blended weighted average interest rate for the term loans and revolving credit facility was 4.30% for the nine months ended September 30, 2025, compared to 4.93% for the same period in 2024[176] - The company authorized a share repurchase program of up to $500 million, with $448.8 million remaining available for future repurchases as of September 30, 2025[159] Strategic Focus - The company remains focused on strategic priorities to enhance service quality and expand its impact on clients and families[110] - The company plans to close additional underperforming centers over the next 12 months to optimize its portfolio[109] Market Risks - Company remains exposed to market risk from interest rate changes and foreign currency exchange rate fluctuations[181] - No material changes in exposure to interest rate or foreign currency exchange rate fluctuations since December 31, 2024[181] Accounting Policies - No material changes to critical accounting policies since December 31, 2024[179] Cash Position - As of September 30, 2025, the company had $116.6 million in cash, compared to $110.3 million as of December 31, 2024, with $82.2 million held in foreign jurisdictions[155] - The company reported a working capital deficit of $386.4 million as of September 30, 2025, up from $283.4 million as of December 31, 2024[157]

Merger and Acquisition - Ouster completed its merger with Velodyne Lidar Inc. on February 10, 2023, acquiring several lidar products that will be discontinued by 2025[132]. Market Potential - The company anticipates a multi-billion dollar total addressable market (TAM) for its digital lidar solutions across automotive, industrial, robotics, and smart infrastructure sectors[139]. Business Strategy and Growth - Ouster expects to grow its software-attached business and transform its product portfolio by 2025, aiming for improved revenue and gross margins over time[133]. - The company aims to expand its international presence, which may expose it to foreign currency risks and additional operational costs[141]. Research and Development - Ouster's R&D expenses are expected to grow over time, with a focus on new lidar technology and related software, while R&D as a percentage of revenue is expected to decrease[148]. - The company is developing solid-state digital flash sensors to enhance precision imaging without motion blur across the entire field of view[128]. - Research and development expenses increased by $6.5 million, or 15%, to $49.9 million for the nine months ended September 30, 2025, from $43.4 million in the prior year[172]. Financial Performance - Revenue increased by $11.5 million or 41%, to $39.5 million for the three months ended September 30, 2025, compared to $28.1 million for the same period in 2024[157]. - Cost of revenue rose by $5.5 million, or 32%, to $22.9 million for the three months ended September 30, 2025, primarily due to higher product manufacturing and stock-based compensation costs[158]. - Gross margin improved to 42% for the three months ended September 30, 2025, up from 38% in the prior year, mainly due to lower excess and obsolete inventory charges[159]. - Total operating expenses for the three months ended September 30, 2025, were $40.9 million, a 7% increase from $38.3 million in the same period in 2024[160]. - The net loss for the three months ended September 30, 2025, was $21.7 million, compared to a net loss of $25.6 million for the same period in 2024[154]. - Revenue for the nine months ended September 30, 2025, was $107.2 million, a 32% increase from $81.0 million in the same period in 2024[168]. - Cost of revenue rose by $7.5 million, or 14%, to $61.2 million for the nine months ended September 30, 2025, from $53.7 million in the prior year[170]. - Total operating expenses increased by $15.0 million, or 14%, to $120.9 million for the nine months ended September 30, 2025, compared to $105.9 million in the prior year[171]. - General and administrative expenses increased by $8.5 million, or 20%, to $50.1 million for the nine months ended September 30, 2025, compared to $41.7 million in the prior year[174]. Cash Flow and Financing - Cash provided by financing activities was $97.3 million during the nine months ended September 30, 2025, primarily from the issuance of common stock under the ATM Agreement[193]. - As of September 30, 2025, the company had cash, cash equivalents, restricted cash, and short-term investments totaling $247.2 million[180]. - Operating activities used $24.5 million in cash during the nine months ended September 30, 2025, with a net loss of $64.4 million[189]. - The remaining availability under the ATM Agreement as of September 30, 2025, is approximately $4.0 million[186]. - As of September 30, 2025, the company had cash and cash equivalents totaling $247.2 million, including $59.8 million in institutional money market funds, $76.1 million in commercial paper, and $81.3 million in corporate debt and U.S. government agency securities[198]. Tax and Interest - The company recorded an income tax benefit of $3.3 million for the nine months ended September 30, 2025, primarily related to the resolution of the IRS examination of its 2017 and 2018 tax years[178]. - Interest income rose by $0.3 million, or 12%, to $2.4 million for the three months ended September 30, 2025, due to higher invested balances[164]. - The company believes that a hypothetical 100 basis point change in interest rates would not materially impact its financial condition or results of operations due to the short-term nature of its investment portfolio[199]. - The company repaid all outstanding indebtedness on August 12, 2024, and as of September 30, 2025, had no debt outstanding, eliminating exposure to interest rate risk related to debt[200]. Currency Exchange Rate Risk - The company's revenue is primarily generated in U.S. dollars, while expenses are denominated in local currencies, exposing it to foreign currency exchange rate fluctuations[201]. - A hypothetical 10% change in foreign currency exchange rates would not have a material impact on the company's historical consolidated financial statements[201]. - The company has not engaged in any hedging strategies to manage foreign currency exchange rate risk[202]. - As international operations grow, the company will reassess its approach to managing currency rate fluctuations[202]. - The company's currency exchange rate risk management activities could expose it to substantial losses if rates move materially differently from expectations[202].

Financial Performance - Net revenues for Q3 2025 reached $71.9 million, a record for the company, representing a 24.0% increase from $58.0 million in Q3 2024[4] - Net income attributable to Viemed for Q3 2025 was $3.5 million, or $0.09 per diluted share[4] - Adjusted EBITDA for Q3 2025 totaled $16.1 million, reflecting a 15.5% increase compared to $13.9 million in Q3 2024[4] - Revenue for the three months ended September 30, 2025, was $71,914,000, a 24% increase from $58,004,000 in the same period of 2024[16] - Gross profit for the nine months ended September 30, 2025, reached $111,355,000, up 15% from $97,065,000 in 2024[16] - Net income for the three months ended September 30, 2025, was $3,600,000, compared to $3,905,000 in 2024, reflecting a decrease of 8%[16] - Adjusted EBITDA for the quarter ended September 30, 2025, was $16,121,000, an increase from $13,954,000 in the same quarter of 2024[20] - Revenue for the quarter ended September 30, 2025, was $71,914 million, an increase from $63,056 million in the previous quarter[27] - Gross profit for the same quarter was $41,345 million, with a gross profit margin of 57%[27] - Net income attributable to Viemed Healthcare, Inc. was $3,513 million, compared to $3,157 million in the previous quarter[27] - Adjusted EBITDA for the quarter was $16,121 million, up from $14,287 million in the previous quarter[27] Cash Flow and Expenses - The company maintains a cash balance of $11.1 million and has $38 million available under existing credit facilities as of September 30, 2025[4] - Net cash provided by operating activities for the nine months ended September 30, 2025, was $33,475,000, compared to $24,102,000 in 2024, representing a 39% increase[18] - Free cash flow for the trailing twelve months ended September 30, 2025, was $23,292,000, compared to $6,039,000 in the same period of 2024[25] - Cash and cash equivalents at the end of the period were $11,123,000, slightly down from $11,347,000 at the end of September 2024[18] - Cash and cash equivalents decreased to $11,123 million from $20,016 million in the previous quarter[27] Shareholder Actions - The company repurchased 1,706,380 common shares at a cost of $11.4 million, averaging $6.68 per share[4] Patient Metrics - Ventilator patient count increased to 12,372, an 8.8% rise from Q3 2024, while PAP therapy patient count rose to 31,891, a 63.7% increase[4] - The number of active ventilator patients was 12,372, an increase from 12,152 in the previous quarter[27] - The number of distinct patients billed for PAP therapy services rose to 31,891 from 26,260 in the previous quarter[27] - The number of distinct patients receiving supplies through the sleep resupply program increased to 33,518 from 25,246 in the previous quarter[27] Debt and Acquisitions - Long-term debt as of September 30, 2025, amounted to $19.6 million, up from $3.6 million at the end of 2024[14] - The acquisition of Lehan's Medical Equipment was completed on July 1, 2025, and has been accretive to net income and earnings per share since[4] Guidance - Full year 2025 net revenue guidance is updated to a range of $271 million to $273 million, down from the previous range of $271 million to $277 million[4] - Adjusted EBITDA guidance for 2025 is now expected to be between $60 million and $62 million, compared to the prior guidance of $59 million to $62 million[4] Operating Expenses - Total operating expenses for the three months ended September 30, 2025, were $34,871,000, up from $30,353,000 in 2024, indicating a 15% increase[16] Investment Performance - The company reported a net loss from investments of $0 for the three months ended September 30, 2025, compared to a gain of $96,000 in 2024[16] Share Statistics - The weighted average number of diluted shares outstanding for the three months ended September 30, 2025, was 40,495,761, compared to 40,779,414 in 2024[16]

Financial Performance - Net income for the three months ended September 30, 2025, was $35.07 million, a 66.7% increase compared to $21.05 million for the same period in 2024[18]. - Basic earnings per share for the three months ended September 30, 2025, were $0.94, up from $0.71 in the same period of 2024, reflecting a 32.4% increase[18]. - Comprehensive income for the nine months ended September 30, 2025, was $115,036,000, up from $102,621,000 in 2024, reflecting a 12% growth[24]. - For the three months ended September 30, 2025, net income was $35,074, leading to a basic and diluted earnings per share of $0.94, compared to $21,048 and $0.71 for the same period in 2024[42]. - For the nine months ended September 30, 2025, net income was $76,952, resulting in a basic and diluted earnings per share of $2.10, compared to $60,600 and $2.04 for the same period in 2024[44]. Asset Growth - Total assets increased to $8.40 billion as of September 30, 2025, up from $6.30 billion at December 31, 2024, representing a 33.5% growth[15]. - Total deposits rose to $7.01 billion as of September 30, 2025, compared to $5.33 billion at December 31, 2024, marking a 31.5% increase[15]. - As of September 30, 2025, total loans net amount to $5,702,448, an increase from $4,080,466 as of December 31, 2024, representing a growth of approximately 39.7%[60]. - Segment assets as of September 30, 2025, totaled $8,401,248,000, compared to $6,295,910,000 at the end of 2024, representing an increase of approximately 33%[117]. Income and Expenses - Total non-interest expense for the three months ended September 30, 2025, was $49.70 million, up from $36.13 million in the same period of 2024, indicating a 37.5% increase[18]. - Salaries and employee benefits increased to $25.44 million for the three months ended September 30, 2025, compared to $19.72 million in the same period of 2024, a rise of 29.2%[18]. - Salaries and employee benefits for the nine months ended September 30, 2025, amounted to $80,122,000, compared to $61,853,000 for the same period in 2024, which is an increase of about 29%[117]. Credit Losses - Provision for credit losses increased to $17.20 million for the nine months ended September 30, 2025, compared to $2.15 million for the same period in 2024[21]. - The allowance for credit losses increased to $76,057 as of September 30, 2025, from $44,436 as of December 31, 2024, reflecting a rise of approximately 71.3%[60]. - Loans charged-off during the three months ended September 30, 2025, totaled $1,126,000, which is a significant increase from $619,000 in the same period of 2024, representing an increase of about 82%[65]. - The provision for credit loss expense for the three months ended September 30, 2025, was $700,000, compared to a provision of $625,000 for the same period in 2024, indicating an increase of approximately 12% year-over-year[65]. Securities and Investments - The total fair value of securities available-for-sale as of September 30, 2025, was $1,618,017, with an amortized cost of $1,848,461, reflecting unrealized losses of $236,243[45]. - The company reported $1,125,013 in total securities with unrealized losses as of September 30, 2025, compared to $1,356,156 as of December 31, 2024, indicating a decrease of about 17%[52]. - The company sold approximately $204.9 million in securities acquired from the Heartland acquisition during the first quarter of 2025, with no gain or loss incurred on the sale[48]. Acquisition and Goodwill - On February 1, 2025, the Company acquired Heartland BancCorp, which had total assets of approximately $1.94 billion, total loans of approximately $1.58 billion, and total deposits of approximately $1.73 billion at the time of acquisition[173]. - The total consideration transferred for the acquisition was $343.109 million, which included $23.102 million in cash and $320.007 million in equity instruments[176]. - The acquisition resulted in the recognition of $196.212 million in goodwill, primarily due to synergies and cost savings from combining operations, and $40.065 million in intangible assets related to core deposits[174]. Non-Interest Income - Non-interest income for the three months ended September 30, 2025, totaled $18.43 million, a 33.0% increase from $13.80 million in the same period of 2024[18]. - Wealth management fees for the three months ended September 30, 2025, were $4,288,000, compared to $3,580,000 in the same period of 2024, indicating a growth of about 20%[114]. - Interchange fee income for the three months ended September 30, 2025, was $5,087 thousand, an increase of 15.9% from $4,390 thousand in the same period of 2024[158]. Cash Flow and Liquidity - The company reported a net cash from operating activities of $116,647,000 for the nine months ended September 30, 2025, compared to $67,071,000 in 2024, marking a 74% increase[31]. - Cash and cash equivalents at the end of the period were $255,648,000, up from $195,555,000 at the end of September 2024, a 31% increase[31]. - Cash dividends paid were $32,454,000 for the nine months ended September 30, 2025, compared to $23,882,000 in 2024, representing a 36% increase[31]. Stock and Shareholder Information - The company reported a total of 37,493,333 shares issued and outstanding as of September 30, 2025, compared to 29,677,093 shares at December 31, 2024[15]. - The company has not repurchased any shares under the stock repurchase plan approved on January 31, 2022, which allows for the repurchase of up to 1,000,000 shares[121]. - The total unvested shares of restricted stock as of September 30, 2025, were 186,982, up from 134,553 as of December 31, 2024, indicating a 39% increase[126].

Financial Performance - Coty Inc. reported financial results for the fiscal year ended June 30, 2025, with a focus on strategic planning and future revenue trends [158]. - The company reported a mid-single digit percentage net revenue decline in the fragrance category during the first three months of fiscal 2026, despite overall market growth [177]. - The company expects its reported net revenue for the second quarter of fiscal 2026 to be roughly flat compared to the prior year, with an estimated low to mid-single digit percentage benefit from foreign exchange [179]. - Net revenues for the three months ended September 30, 2025, decreased by 6%, or $94.3 million, to $1,577.2 million from $1,671.5 million in the same period of 2024, primarily due to a 10% decline in unit volume [190]. - Prestige segment net revenues decreased by 4%, or $44.6 million, to $1,069.5 million, while Consumer Beauty segment revenues decreased by 9%, or $49.7 million, to $507.7 million [191][193]. - Adjusted operating income for the total company was $240.5 million for the three months ended September 30, 2025, compared to $303.6 million in the same period of 2024 [205]. - Net income for Coty Inc. decreased to $74.0 million in Q3 2025 from $90.7 million in Q3 2024, representing an 18% decline [206]. - Adjusted net income attributable to Coty Inc. was $106.0 million, down 17% from $128.1 million in the same period last year [224]. Cost Management and Efficiency - The company anticipates ongoing cost efficiency and restructuring initiatives to enhance profitability and cash flow management [160]. - The company plans to implement a Fixed Cost Reduction Plan with expected cash costs of approximately $80.0 million, evenly split between fiscal 2026 and fiscal 2027 [171]. - The company is re-accelerating cost reduction efforts to deliver savings of approximately $80.0 million in fiscal 2026 [179]. - The company expects to incur approximately $35.0 million in costs related to tariff increases through the first quarter of fiscal 2027, with $30.0 million impacting fiscal 2026 results [232]. - Cash costs associated with the Fixed Cost Reduction Plan are expected to be approximately $80.0 million, split between fiscal 2026 and fiscal 2027, with $10.0 million incurred to date [233]. Strategic Initiatives - Coty is exploring strategic transactions, including a review of its consumer beauty business and potential divestitures related to its mass color cosmetics segment [160]. - The company is conducting a strategic review of its Consumer Beauty business, assessing alternatives such as partnerships and divestitures to maximize long-term value [170]. - Coty is focused on enhancing its digital and e-commerce capabilities to adapt to changing consumer preferences and market dynamics [161]. - The company aims to leverage its leadership in global fragrances to expand its market presence in profitable beauty categories [161]. - The company is strategically positioned to achieve sustained growth in prestige fragrances with new launches planned for fiscal 2026 and beyond [177]. Market Challenges - Coty is facing inflationary pressures and plans to implement pricing actions to mitigate increased costs [160]. - The company is navigating geopolitical risks, including the impact of the war in Ukraine and conflicts in the Middle East, on its operations and sales outlook [162]. - The Americas region experienced a mid-single digit percentage decline in net revenue during the first three months of fiscal 2026, driven by negative market trends in Brazil [181]. - The decrease in net revenues was attributed to declines in fragrances and color cosmetics across both Prestige and Consumer Beauty segments, with significant impacts from European markets [190][192]. Operational Performance - Operating income for the three months ended September 30, 2025, was $185.0 million, a decrease of 22% from $237.8 million in the same period of 2024, with an operating income margin of 11.7% compared to 14.2% [196]. - The cost of sales decreased by 3%, or $16.5 million, to $560.4 million, but the cost of sales as a percentage of net revenues increased to 35.5% from 34.5%, resulting in a gross margin decrease of approximately 100 basis points [194]. - Selling, general and administrative expenses decreased by 2%, or $14.5 million, to $793.5 million, but as a percentage of net revenues, these expenses increased to 50.3% from 48.3% [195]. - The Prestige segment's operating income decreased by 13% to $208.9 million, with an operating margin of 19.5%, down from 21.7% [200]. - The Consumer Beauty segment reported an operating loss of $7.7 million, compared to an income of $14.0 million in the prior year, with an operating loss margin of 1.5% [201]. Cash Flow and Financing - Net cash provided by operating activities was $65.2 million for the three months ended September 30, 2025, compared to $67.4 million in 2024, reflecting a decrease of $2.2 million [244]. - Net cash used in investing activities decreased by $23.5 million to $53.8 million in 2025 from $77.3 million in 2024, primarily due to lower capital expenditures [245]. - The company issued $900.0 million of 5.600% senior notes due 2031, receiving net proceeds of $888.0 million, which were used to redeem existing debt [235]. - The net amount factored under factoring facilities was $223.8 million as of September 30, 2025, compared to $211.8 million as of June 30, 2025 [242]. - The company has suspended the payment of dividends on common stock until it approaches a net debt to adjusted EBITDA target of 2x [247]. Sustainability and Social Responsibility - Coty is committed to sustainability initiatives, including progress towards achieving sustainability targets and addressing climate change concerns [162]. - The company has substantially completed the exit of its commercial activities in Russia, anticipating future net cash costs of $1.0 to $1.5 million funded by its Russian subsidiary [231].

Financial Performance - Revenue for Q3 2025 reached $205,110,000, a 77% increase from $115,828,000 in Q3 2024[24] - Gross profit for Q3 2025 was $134,472,000, compared to $84,471,000 in Q3 2024, reflecting a 59% increase[24] - Operating expenses for Q3 2025 totaled $127,918,000, up from $77,133,000 in Q3 2024, representing a 66% increase[24] - Net loss for Q3 2025 was $10,514,000, compared to a net income of $4,769,000 in Q3 2024[24] - The company reported a comprehensive loss of $11,365,000 for Q3 2025, compared to a comprehensive income of $9,039,000 in Q3 2024[26] - Net income for the nine months ended September 30, 2025, was a loss of $27.729 million, compared to a profit of $7.280 million in 2024[35] - Consolidated net loss for the three months ended September 30, 2025, was $(10,514) thousand, compared to net income of $4,769 thousand for the same period in 2024[107] - The company reported a net loss of $27,729,000 for the nine months ended September 30, 2025, compared to a net income of $7,280,000 for the same period in 2024[92] Assets and Liabilities - Total assets as of September 30, 2025, were $2,990,512,000, significantly up from $1,169,572,000 as of December 31, 2024[22] - Total liabilities increased to $988,961,000 as of September 30, 2025, compared to $139,341,000 at the end of 2024[22] - Cash and cash equivalents decreased to $60,750,000 from $177,350,000 as of December 31, 2024[22] - Accounts receivable, net, increased to $152,791,000 as of September 30, 2025, from $106,151,000 at the end of 2024[66] - Prepaid expenses and other current assets totaled $33,871,000 as of September 30, 2025, compared to $23,006,000 at the end of 2024[67] Equity and Stock - The total stockholders' equity attributable to Clearwater Analytics Holdings, Inc. increased to $1,981,550,000 from $1,008,255,000 as of December 31, 2024[22] - The company issued 3,833,333 shares of common stock, contributing $4,000,000 to additional paid-in capital[28] - The balance of shares withheld for net share settlement and other adjustments was $(264,336,000)[30] - The company has authorized a Share Repurchase Program to repurchase up to $100.0 million of Class A common stock, with no fixed expiration date[102] - As of September 30, 2025, a total of 7,092,009 shares of Class A common stock were available for issuance under the Employee Stock Purchase Plan (ESPP)[99] Cash Flow - Operating cash flow for the nine months ended September 30, 2025, was $120.565 million, an increase from $103.520 million in 2024[35] - Net cash provided by operating activities for the nine months ended September 30, 2025, was $120.6 million, an increase from $103.5 million in the same period of 2024, reflecting a growth of approximately 16.5%[169][170] - Net cash used in investing activities was $988.5 million for the nine months ended September 30, 2025, primarily due to acquisitions totaling $1,074.8 million, compared to $54.8 million in the same period of 2024[171][172] - Net cash provided by financing activities was $750.2 million for the nine months ended September 30, 2025, significantly higher than the $42.5 million used in financing activities in the same period of 2024[173][174] Acquisitions - The total merger consideration for the acquisition of Enfusion, Inc. was $1.4 billion, net of cash acquired[51] - The company completed acquisitions of Beacon and Enfusion on April 30 and April 21, 2025, respectively, to enhance its investment management solutions[122] - The acquisition of Beacon Platform Inc. resulted in a total merger consideration of $487,738,000, with goodwill recorded at $337,928,000[56] - The Bistro Asset Acquisition was completed for $112.7 million, with identified intangible assets valued at $112,733,000[64] - Acquisition-related costs for the nine months ended September 30, 2025, were $4.1 million, with no costs incurred in the previous year[58] Research and Development - Research and development expenses for Q3 2025 were $52,065,000, up from $36,618,000 in Q3 2024, a 42% increase[24] - The company plans to invest in research and development to maintain its technological advantage, even if it results in higher expenses relative to revenue growth[129] - Research and development expenses accounted for 25% of revenue for the three months ended September 30, 2025, down from 32% in 2024[157] Client Growth and Retention - Clearwater Analytics manages over $8.8 trillion of global invested assets for over 1,400 clients as of December 31, 2024[117] - The company maintained a gross revenue retention rate of at least 98% in 26 of the last 27 quarters, with net revenue retention rates between 108% and 114% in 2025[125][144] - Annualized recurring revenue increased by 76.7% from September 30, 2024, to September 30, 2025, driven by client growth and asset onboarding[142] - The company expects revenue growth as clients transition from onboarding to steady state, with revenues and gross margins expected to increase over time[125] Debt and Financing - The company entered into a 2025 Credit Agreement providing $800 million in term loans and $200 million in revolving commitments, with initial cash proceeds of $800 million received[71][72] - The interest rates for the 2025 Term Loans are based on a SOFR rate plus an applicable margin of 2.25%, with a potential decrease of 0.25% if certain secured net leverage levels are achieved[74] - A hypothetical increase or decrease in SOFR of 100 basis points would result in an annual change of $8.6 million in interest expense under the 2025 Credit Agreement as of September 30, 2025[182] Employee Compensation - Employee compensation expense for the three months ended September 30, 2025, was $88,971 thousand, up from $49,932 thousand in the same period in 2024[107] - Total equity-based compensation expense for the three months ended September 30, 2025, was $33,470,000, up from $25,976,000 in 2024[152] - Equity-based compensation expenses totaled $33,648,000, indicating a significant investment in employee incentives[30] Other Financial Metrics - Adjusted EBITDA for the three months ended September 30, 2025, was $70,733,000, which is 34% of revenue, compared to $38,340,000 or 33% of revenue in 2024[151] - The effective tax rate for the three months ended September 30, 2025, was (5.1%), compared to (11.3%) for the same period in 2024[111] - The company recognized a debt extinguishment loss of $0.4 million related to the prior credit agreement in interest expense[79]

Financial Performance - Total revenues for the three months ended September 30, 2025, were $250,256,000, representing a 4.3% increase from $239,968,000 for the same period in 2024 [135]. - Net income for the three months ended September 30, 2025, was $34,488,000, an increase of 78.4% from $19,327,000 for the same period in 2024 [135]. - Operating income for the three months ended September 30, 2025, was $83,937,000, a 10.9% increase from $75,676,000 for the same period in 2024 [135]. - Total revenues for the nine months ended September 30, 2025, increased by 5.8% to $745.6 million compared to $704.6 million for the same period in 2024 [149]. - Net income for the nine months ended September 30, 2025, was $83.559 million, up from $74.138 million in the same period of 2024, representing a 12.4% increase [204]. - Adjusted EBITDA for the nine months ended September 30, 2025, increased by 7.1% to $459.3 million, with an adjusted EBITDA percentage of 61.6% [163]. - Adjusted EBITDA for Q3 2025 was $160.265 million, compared to $145.690 million in Q3 2024, indicating a 10% increase year-over-year [204]. Revenue Sources - Contract operations revenue increased by $7,500,000, or 3.4%, to $227,990,000 for the three months ended September 30, 2025, compared to $220,518,000 for the same period in 2024 [135]. - Related-party revenue surged by 91.7% to $48.4 million, attributed to revenue recognized from existing customers acquired by Energy Transfer [149][153]. - Contract operations revenue rose by $18.0 million, a 2.7% increase, primarily due to a 4.9% increase in average revenue per revenue-generating horsepower per month [149]. Cost Management - Costs of operations, exclusive of depreciation and amortization, decreased by 5.9% to $76,951,000 for the three months ended September 30, 2025, compared to $81,814,000 for the same period in 2024 [135]. - Selling, general, and administrative expenses decreased by 7.5% to $48.5 million for the nine months ended September 30, 2025, primarily due to a decrease in unit-based compensation [149][156]. - Depreciation and amortization expense increased by 5.9% to $71,222,000 for the three months ended September 30, 2025, compared to $67,237,000 for the same period in 2024 [135]. Cash Flow and Investments - Net cash provided by operating activities increased by $43.6 million for the nine months ended September 30, 2025, primarily due to a $55.5 million decrease in inventory purchases [183]. - Net cash provided by operating activities for the nine months ended September 30, 2025, was $254.774 million, compared to $211.139 million in the same period of 2024, a 20.6% increase [204]. - Net cash used in investing activities decreased by $111.3 million for the nine months ended September 30, 2025, primarily due to a $110.3 million decrease in capital expenditures [184]. Capital Expenditures - Maintenance capital expenditures for the nine months ended September 30, 2025, were $31.6 million, up from $23.8 million in the same period of 2024 [178]. - Expansion capital expenditures for the nine months ended September 30, 2025, were $77.6 million, down from $205.9 million in the same period of 2024 [179]. - The company plans to spend between $38.0 million and $42.0 million in maintenance capital expenditures for the year 2025 [178]. Debt and Interest - Interest expense, net, decreased by $2.7 million for the nine months ended September 30, 2025, due to lower weighted-average interest rates and decreased borrowings [159]. - Interest expense, net for the nine months ended September 30, 2025, was $142.109 million, slightly down from $144.855 million in the same period of 2024 [204]. - As of September 30, 2025, the company had outstanding borrowings under the Credit Agreement of $54.7 million, with $1.69 billion of remaining unused availability [186]. Asset Management - Impairment of assets for the nine months ended September 30, 2025, was $7.5 million, reflecting the evaluation of idle fleet deployment under current market conditions [157]. - The company retired 26 compression units with approximately 19,000 aggregate horsepower during the nine months ended September 30, 2025 [158]. - Impairment of assets for the nine months ended September 30, 2025, was $7.509 million, compared to $311,000 in the same period of 2024 [204]. Performance Metrics - Average revenue per revenue-generating horsepower per month increased by 4.2% to $21.46 for the three months ended September 30, 2025, compared to $20.60 for the same period in 2024 [130]. - Average horsepower utilization for the three months ended September 30, 2025, was 94.0%, a decrease of 0.6% from 94.6% for the same period in 2024 [128]. - DCF for the nine months ended September 30, 2025, was $282.5 million, up 9.1% from $259.1 million in 2024 [217]. - The DCF Coverage Ratio for the three months ended September 30, 2025, was 1.61x, compared to 1.41x in the same period of 2024 [217].

Financial Performance - Sales for Q3 2025 reached $409,542,000, a 67% increase from $245,085,000 in Q3 2024[10] - Gross profit for the nine months ended September 30, 2025, was $373,995,000, compared to $129,876,000 for the same period in 2024, representing a 188% increase[10] - Net income for the nine months ended September 30, 2025, was $187,303,000, significantly up from $23,878,000 in 2024, marking a 684% increase[10] - The company reported a comprehensive income of $96,329,000 for Q3 2025, compared to $4,932,000 in Q3 2024[10] - Hecla Mining Company reported a net income of $100.726 million for the three months ended September 30, 2025, compared to $1.761 million for the same period in 2024, indicating a significant increase in profitability[16] - For the nine months ended September 30, 2025, Hecla Mining reported a net income of $187.303 million, compared to a net income of $23.878 million for the same period in 2024, indicating strong year-over-year growth[19] - For the three months ended September 30, 2025, net income was $100.726 million, compared to $1.761 million for the same period in 2024, representing a significant increase[44] - Net income applicable to common stockholders reached $100.6 million in Q3 2025, a significant increase from $1.6 million in Q3 2024[106] - Net income applicable to common stockholders for the nine months ended September 30, 2025, was $186.9 million, significantly up from $23.5 million in the comparable 2024 period[123] Cash Flow and Liquidity - Cash provided by operating activities for the nine months ended September 30, 2025, was $345,583,000, compared to $150,807,000 in 2024, an increase of 129%[12] - Cash and cash equivalents at the end of Q3 2025 were $135,082,000, compared to $23,457,000 at the end of Q3 2024, indicating a significant increase[12] - As of September 30, 2025, the company had $133.9 million in cash and cash equivalents, with $117.1 million held in U.S. dollars and $16.8 million in foreign currency[206] - The company aims to maintain an acceptable level of debt and sufficient liquidity to fund operations, capital expenditures, and return cash to stockholders[196] Assets and Liabilities - Total assets as of September 30, 2025, amounted to $3,221,842,000, up from $2,981,060,000 at the end of 2024, reflecting an 8% increase[14] - Total liabilities decreased to $772,198,000 as of September 30, 2025, from $941,546,000 at the end of 2024, a reduction of 18%[14] - The company reported total stockholders' equity of $2.449 billion as of September 30, 2025, an increase from $2.310 billion as of July 1, 2025[16] - As of September 30, 2025, the long-term debt stood at $261.8 million, down from $495.2 million as of December 31, 2024[54] Production and Sales - The company’s total metal sales for the three months ended September 30, 2025, were $393.351 million, with significant contributions from its Greens Creek and Lucky Friday segments[24] - Metal sales for the nine months ended September 30, 2025, amounted to $945.033 million, compared to $665.141 million in 2024, reflecting a year-over-year increase of 42%[33] - Hecla Mining Company produced 4.6 million ounces of silver in Q3 2025, a 28% increase from 3.6 million ounces in Q3 2024, and 40,654 ounces of gold, up from 32,280 ounces in the same period[106] - Total metals production for silver increased to 4,590,276 ounces in Q3 2025 from 3,645,004 ounces in Q3 2024, representing a 26% increase[1] - Payable ounces of silver sold increased to 4,463,356 in Q3 2025 from 3,729,782 in Q3 2024, a rise of 20%[1] Capital Expenditures - Capital additions for the three months ended September 30, 2025, totaled $57.905 million, which supports ongoing operational improvements and expansions[24] - The company estimates capital expenditures for 2025 to be between $222 million and $242 million, with $170 million already incurred as of September 30, 2025[203] - Capital expenditures for 2025 amounted to approximately $170.0 million, with significant investments at Greens Creek ($31.3 million), Lucky Friday ($48.3 million), Casa Berardi ($45.1 million), and Keno Hill ($42.2 million)[110] Cost Structure - Cash Cost per ounce of silver for the three months ended September 30, 2025, was $(2.03), compared to $4.46 in the same period of 2024[114] - AISC after by-product credits per silver ounce decreased to $(2.55) for the three months ended September 30, 2025, from $7.04 in the comparable 2024 period[134] - Total cost of sales for the nine months ended September 30, 2025, was $414.1 million, up from $364.2 million in the same period of 2024[114] - Total cost of sales for silver operations was $157,470,000 for the three months ended September 30, 2025[185] - Total cost of sales for gold operations was $71,605,000 for the same period[186] Shareholder Returns - The company declared and paid a quarterly dividend of $0.00375 per common share during each of the first three quarters of 2025[51] - The company declared and paid dividends totaling $2.7 million for the three months ended September 30, 2025, compared to $8.7 million in the same period of 2024[198] - The company has a stock repurchase program authorized for up to 20 million shares, with 934,100 shares purchased at an average price of $3.99 per share as of September 30, 2025[200] Exploration and Development - The Greens Creek operation received a Clean Water Act Section 404 permit for a dry stack tailings expansion project, with work expected to commence in Q4 2025[106] - The Libby Exploration Project in Montana advanced with the U.S. Forest Service issuing a final decision notice, facilitating further exploration efforts[110] - The company is assessing strategic alternatives for Casa Berardi, including potential sale, joint ventures, or extending underground mining operations[162] Environmental and Regulatory - The company has surety bonds totaling $218.8 million in place for future reclamation and closure costs as of September 30, 2025[95] - The company anticipates falling within the scope of Pillar Two rules beginning January 1, 2026, but does not expect a material impact on its financial statements[39]