Revenue and Sales Performance - For the three months ended September 30, 2025, revenue increased by $29.7 million or 3,473% from $0.9 million, and for the nine months, it increased by $47.9 million or 573% from $8.4 million, driven by higher product sales and selling prices [259][260]. Cost and Expenses - Cost of goods sold for the three months ended September 30, 2025, increased by $38.7 million or 150% from $25.8 million, and for the nine months, it increased by $77.5 million or 114% from $68.1 million, primarily due to increased product sales volume [261][262]. - Selling, general and administrative expenses for the three months ended September 30, 2025, increased by $2.0 million or 11% to $19.8 million, and for the nine months, they rose by $22.9 million or 53% to $66.3 million [266]. - Research and development expenses for the three months ended September 30, 2025, decreased by $0.5 million or 7% to $6.9 million, while for the nine months, they increased by $4.1 million or 24% to $21.0 million [264]. - The company incurred a loss from write-down of property, plant, and equipment of $0.6 million for the three months ended September 30, 2025, compared to $3.2 million for the same period in 2024 [267]. - Interest expense, net for the three months ended September 30, 2025, increased by $4.7 million to $(4.8) million, primarily due to interest on the 2025 Convertible Notes [268]. - The company recognized a loss on debt extinguishment of $3.6 million for the three months ended September 30, 2025, and a loss of $52.7 million for the nine months [272]. - Other expenses for the three months ended September 30, 2025, amounted to $0.3 million, primarily related to professional fees for amending the AFG Convertible Notes [274]. Financing and Capital - The Company has received funding under the DOE Loan Facility for an aggregate amount of $90.9 million, with the first draw of $68.3 million at an interest rate of 4.791% [253]. - The Company closed on the DOE Loan Facility, providing up to $303.5 million in funding, with Tranche 1 amounting to $102.0 million and Tranche 2 to $117.3 million [280]. - As of June 21, 2024, the company entered into a financing transaction with Cerberus, providing a $210.5 million secured multi-draw facility and a $105.0 million revolving credit facility [279]. - The Company raised $81.1 million from the issuance of 21,562,500 shares of common stock at a public offering price of $4.00 per share [281]. - The Company issued $225 million principal amount of 6.75% Convertible Notes due 2030, raising net proceeds of $240 million [282]. - The Company has future contractual obligations totaling $814.0 million as of September 30, 2025, including $336.1 million for the 2025 Convertible Notes due June 2030 [298]. - The Company expects to remain in compliance with the Minimum Liquidity covenant over the next twelve months [286]. - The Company relies on outside capital to fund its operations and expects this reliance to continue until it reaches profitability [285]. Operational Milestones and Projects - The Company successfully achieved all operational milestones to secure the final $40.5 million under the fully funded $210.5 million Delayed Draw Term Loan, enabling ongoing operations and U.S. production expansion [257]. - The Company plans to expand its manufacturing capacity to 8 GWh by 2027 to meet growing demand for longer duration battery energy storage systems [251]. - The Company announced an $8 million standalone BESS order for the Naval Base of San Diego, fully funded by a grant from the California Energy Commission [258]. - The Company launched its new proprietary battery management system, DawnOS, designed to optimize energy storage systems and integrate them into the grid [258]. - The Company has a strong foundation and sufficient capital to continue implementing Project AMAZE, driven by customer project cash flow and operational efficiencies [258]. Financial Position and Losses - For the nine months ended September 30, 2025, the Company incurred a net loss of $849.2 million and had an accumulated deficit of $2,415.4 million [283]. - As of September 30, 2025, the Company had $58.7 million in unrestricted cash and cash equivalents and working capital of $85.4 million [283]. - Net cash used in operating activities was $160.9 million for the nine months ended September 30, 2025, compared to $111.3 million for the same period in 2024 [290][293]. - Capital expenditures for the nine months ended September 30, 2025, were $29.7 million, an increase from $20.1 million in the same period in 2024 [285]. - The company has incurred significant losses and negative cash flows from operations since inception and expects to continue this trend until achieving profitability [277]. Accounting and Market Risks - There have been no material changes in the critical accounting estimates in the Company's Annual Report for the year ended December 31, 2024 [300]. - The Company's market risk exposures have not materially changed for the nine months ended September 30, 2025, compared to the previous Annual Report for the year ended December 31, 2024 [301]. Regulatory and Tax Incentives - The Inflation Reduction Act offers a 10-year term tax credit for energy storage projects, with additional credits for projects in "energy communities" and those meeting domestic content requirements [254].

Financial Performance - Total revenue for Q3 2025 was $216.8 million, an increase of 113.4% compared to $101.6 million in Q3 2024[8] - Revenue from molecular profiling services reached $207.6 million, reflecting a growth of 121.3% year-over-year[9] - Net income for Q3 2025 was $24.3 million, compared to a net loss of $(67.7) million in Q3 2024, marking a 135.9% improvement[12] - Adjusted EBITDA for the quarter was $51.2 million, a significant increase of 212.2% from a loss of $(45.6) million in the previous year[13] - The company raised its full-year 2025 revenue guidance to a range of $720 million to $730 million, indicating a year-over-year growth of 75% to 77%[14] - Total revenue for the three months ended September 30, 2025, was $216,833,000, a 113% increase from $101,620,000 in the same period of 2024[28] - Molecular profiling services revenue reached $207,587,000, up from $93,803,000, representing a 121% year-over-year growth[28] - Net income for the three months ended September 30, 2025, was $24,325,000, compared to a net loss of $67,729,000 in the same period of 2024[28] Operational Metrics - Total clinical case volume increased by 18.2%, totaling 50,763 cases in Q3 2025 compared to 42,956 cases in Q3 2024[5] - The average selling price (ASP) for total clinical services rose by 87.2% to $4,089 in Q3 2025, up from $2,184 in Q3 2024[7] - The company completed over 959,000 total profiles, including more than 577,000 Whole Exome and 628,000 Whole Transcriptome profiles by September 30, 2025[6] Cash Flow and Liquidity - Positive net cash flow from operating activities was $62.4 million, a 189.9% improvement from $(69.4) million in the prior year[13] - Cash, cash equivalents, and restricted cash increased to $754,739,000 as of September 30, 2025, from $65,442,000 at the end of 2024[30] - Net cash provided by operating activities for the nine months ended September 30, 2025, was $38,375, compared to a net cash used of $206,278 in the same period of 2024[33] - Free cash flow for the nine months ended September 30, 2025, was $27,205, an improvement from a negative free cash flow of $212,432 in the same period of 2024[36] - The company raised $528,459 from its initial public offering, contributing to a net cash provided by financing activities of $661,590 for the nine months ended September 30, 2025[33] Balance Sheet - Total assets as of September 30, 2025, amounted to $984,571,000, significantly higher than $343,734,000 as of December 31, 2024[30] - Current assets increased to $854,245,000 as of September 30, 2025, compared to $215,729,000 at the end of 2024[30] - Total liabilities decreased to $506,207,000 as of September 30, 2025, down from $620,921,000 as of December 31, 2024[30] - Total shareholders' equity improved to $478,364,000 as of September 30, 2025, from a deficit of $2,498,838,000 at the end of 2024[31] - The company’s accumulated deficit as of September 30, 2025, was $2,630,693,000, compared to $2,472,300,000 at the end of 2024[31] Other Financial Metrics - The company reported a basic net income per share of $0.09 for the three months ended September 30, 2025, compared to a loss of $2.59 per share in the same period of 2024[28] - Net loss for the nine months ended September 30, 2025, was $150,045, a decrease from a loss of $244,943 in the same period of 2024, representing a 38.6% improvement[33] - Adjusted EBITDA for the nine months ended September 30, 2025, was $31,665, compared to a loss of $166,564 in the same period of 2024, indicating a significant turnaround[35] - Changes in fair value of financial instruments resulted in a gain of $52,285 for the nine months ended September 30, 2025, compared to a loss of $6,067 in the same period of 2024[35] - The company reported a net cash used in investing activities of $11,170 for the nine months ended September 30, 2025, compared to a net cash provided of $55,222 in the same period of 2024[33] - The company experienced a significant increase in accounts receivable, which rose to $61,232 for the nine months ended September 30, 2025, compared to a decrease of $15,009 in the same period of 2024[33] - Stock-based compensation expense for the nine months ended September 30, 2025, was $56,639, significantly higher than $13,666 in the same period of 2024[33]

Financial Performance - For the three months ended September 30, 2025, net income attributable to Bunge shareholders was $166 million, a decrease of $55 million compared to $221 million for the same period in 2024[215]. - Total EBIT for the three months ended September 30, 2025, was $403 million, a decrease of $4 million compared to $407 million for the same period in 2024[217]. - For the nine months ended September 30, 2025, net income attributable to Bunge was $721 million, an increase of $186 million compared to $535 million for the same period in 2024[215]. - Income tax expense for the three months ended September 30, 2025, was $86 million, compared to $89 million for the same period in 2024[218]. - Segment EBIT for Soybean Processing and Refining increased by 52% to $337 million for the three months ended September 30, 2025, compared to $222 million for the same period in 2024[226]. - Segment EBIT increased by 10% to $254 million for the nine months ended September 30, 2025, driven by higher other income, partially offset by increased selling, general and administrative expenses[257]. - Corporate and Other EBIT decreased by 106% to a loss of $268 million for the three months ended September 30, 2025, primarily due to increased SG&A expenses from the Acquisition of Viterra[259]. Sales and Revenue - Soybean Processing and Refining segment net sales increased 38% to $10,857 million for the three months ended September 30, 2025, primarily due to contributions from the Viterra acquisition and higher oilseed merchandising volumes[227]. - Soybean Processing and Refining segment net sales increased 7% to $25,268 million for the nine months ended September 30, 2025, driven by contributions from the acquisition of Viterra and higher oilseed volumes[232]. - Softseed Processing and Refining segment net sales increased 130% to $3,661 million for the three months ended September 30, 2025, mainly from the acquisition of Viterra and higher average sales prices in Europe[239]. - Other Oilseeds Processing and Refining segment net sales increased 13% to $1,207 million for the three months ended September 30, 2025, primarily due to higher sales prices in the tropical oils business[245]. - Grain Merchandising and Milling segment net sales increased 168% to $6,428 million for the three months ended September 30, 2025, driven by contributions from the acquisition of Viterra and increased export demand[251]. Costs and Expenses - Cost of goods sold increased 37% to $10,359 million for the three months ended September 30, 2025, primarily due to higher net sales and unfavorable mark-to-market results[228]. - Cost of goods sold increased 5% to $23,877 million for the nine months ended September 30, 2025, primarily due to higher net sales[233]. - Cost of goods sold for the Softseed Processing and Refining segment increased 137% to $3,372 million for the three months ended September 30, 2025[240]. - Segment EBIT for Grain Merchandising and Milling decreased 73% to $21 million for the three months ended September 30, 2025, primarily due to higher selling, general and administrative expenses[253]. Working Capital and Cash Flow - Working capital at September 30, 2025, was $10,622 million, an increase of $2,394 million compared to $8,228 million at September 30, 2024[219]. - Cash used for operating activities was $503 million for the nine months ended September 30, 2025, a decrease of $1,350 million compared to cash provided of $847 million for the same period in 2024[295]. - Cash used for investing activities increased to $5,524 million for the nine months ended September 30, 2025, up from $957 million in the same period of 2024, primarily due to the acquisition of Viterra for $4,116 million[297]. - Cash provided by financing activities was $4,021 million for the nine months ended September 30, 2025[293]. Acquisition of Viterra - The acquisition of Viterra was completed on July 2, 2025, with Viterra shareholders receiving approximately 65.6 million shares of Bunge valued at $5.3 billion and $1.9 billion in cash[212]. - The company completed the acquisition of Viterra, which significantly impacted its equity and debt structure[290]. - Cash payments for the acquisition of Viterra were net of cash acquired, totaling $4,116 million, contributing to the increase in cash used for investing activities[297]. Debt and Equity - Total debt increased to $15,589 million as of September 30, 2025, up from $6,238 million at December 31, 2024, representing a $9,351 million increase[278]. - Total Bunge shareholders' equity reached $15,768 million at September 30, 2025, an increase of $5,855 million from $9,913 million at December 31, 2024[290]. - Noncontrolling interests increased to $1,462 million at September 30, 2025, compared to $1,032 million at December 31, 2024, an increase of $430 million[291]. - Bunge's total unused and available committed borrowing capacity was $8,665 million as of September 30, 2025[277]. Foreign Exchange and Market Risks - Foreign exchange losses for the three months ended September 30, 2025, amounted to $42 million, a decrease of 380% compared to the previous year, primarily due to unfavorable hedging results[229]. - Foreign exchange gains increased 116% to a gain of $9 million for the nine months ended September 30, 2025, attributed to a weaker U.S. dollar[234]. - The company recorded a foreign currency gain on debt of $251 million for the nine months ended September 30, 2025, impacting cash flows from operating activities[296]. - The company actively manages various market risks, including commodity prices, foreign currency exchange rates, and interest rates, through derivative instruments[303]. Derivative Instruments - The company primarily uses derivative instruments to manage exposure to agricultural commodity price movements, utilizing exchange-traded futures and options contracts[321]. - The company employs freight forward agreements (FFAs) and FFA options to hedge ocean freight costs, with changes in fair values recorded in Cost of goods sold[322]. - Energy derivatives are used to manage exposure to volatility in energy costs, with changes in fair values also recorded in Cost of goods sold[323]. - The company may enter into credit default swaps, carbon emission derivatives, and equity derivatives to manage credit risk and macroeconomic risks, with impacts recorded in Cost of goods sold[324].

Exhibit 99.1 P.O. Box 25099 ~ Richmond, VA 23260 ~ Phone: (804) 359-9311 ~ Fax: (804) 254-3584 ______________________________________________________________________________________________________ P R E S S R E L E A S E CONTACT: Universal Corporation Investor Relations RELEASE: 4:16 p.m. ET Phone: (804) 359-9311 Fax: (804) 254-3584 Email: investor@universalleaf.com Universal Corporation Reports First Half and Second Quarter 2026 Results Revenue up 3% and 6% for First Half and Second Quarter 2026, respecti ...

Financial Performance - Net loss for Q3 2025 was $32.4 million, a decrease of 171.7% compared to a net income of $45.1 million in Q3 2024[2] - Total revenues for the three months ended September 30, 2025, were $398.723 million, a decrease of 1.99% compared to $404.530 million for the same period in 2024[36] - Net income attributable to common shareholders for the three months ended September 30, 2025, was a loss of $43.366 million, compared to a profit of $33.026 million in the same period of 2024[36] - For the three months ended September 30, 2025, the net income was a loss of $32.353 million, compared to a profit of $45.145 million in the same period of 2024[53] - Operating income for the nine months ended September 30, 2025, was $34.943 million, down from $106.656 million for the same period in 2024[36] - Funds from Operations (FFO) for the three months ended September 30, 2025, was $71.688 million, down from $104.519 million in 2024, representing a decrease of 31.4%[53] - Adjusted FFO available to common share and unit holders for the three months ended September 30, 2025, was $60.160 million, compared to $71.671 million in 2024, a decrease of 16.1%[55] Revenue and Expenses - Same-Property Total RevPAR decreased by 1.5% year-over-year to $362, with occupancy increasing nearly 190 basis points and ADR declining by 5.4%[2] - Total hotel operating expenses for the three months ended September 30, 2025, were $259.052 million, an increase of 0.4% from $257.020 million in 2024[36] - Same-Property Total Expense variance for 2025 is projected to be between 2.0% and 2.7% against 2024[22] - Same-Property Total Revenue variance for 2025 is expected to range from (0.3%) to 0.8% compared to 2024[22] - Same-Property expenses totaled $292.261 million for the three months ended September 30, 2025, compared to $290.119 million in 2024[76] Outlook and Projections - The 2025 outlook for Adjusted EBITDAre is revised to a range of $332.5 to $341.5 million, with a midpoint reduction of $3.0 million[2] - For Q4 2025, the company anticipates a net loss between ($22.2 million) and ($13.2 million), with Adjusted EBITDAre expected to be between $59.7 million and $68.7 million[23] - The company expects Same-Property Hotel EBITDA for Q4 2025 to be between $59.4 million and $68.4 million, with a variance against 2024 of (6.7%) to 7.4%[24] - The company expects a net loss of between $67 million and $58 million for the year ending December 31, 2025[59] - The projected FFO for the year ending December 31, 2025, is between $202 million and $211 million[59] - Adjusted EBITDAre for the year ending December 31, 2025, is projected to be between $333 million and $342 million[61] Capital and Investments - Capital investments in Q3 totaled $14.2 million, with a full-year expectation of $65 to $75 million[2] - The company completed a $400 million private offering of 1.625% Convertible Notes due 2030, enhancing liquidity and lowering borrowing costs[2] - The balance sheet ended Q3 with $232 million in cash and a sector-low 4.1% weighted average interest rate[2] - The company plans to utilize cash flow to address the remaining $350 million of Convertible Notes maturing in December 2026[2] Property and Market Performance - Same-Property Occupancy increased to 79.9% for the three months ended September 30, 2025, up from 78.0% in 2024, reflecting a 2.4% increase[64] - Same-Property Average Daily Rate (ADR) decreased by 5.4% to $290.25 for the three months ended September 30, 2025, compared to $306.78 in 2024[64] - Same-Property Revenue Per Available Room (RevPAR) decreased by 3.1% to $231.84 for the three months ended September 30, 2025, compared to $239.34 in 2024[64] - Same-Property RevPAR for Q4 2025 is projected to be between $188 and $194, with a variance against 2024 expected to range from (1.25%) to 2.0%[24] - For the three months ended September 30, 2025, Same-Property RevPAR increased by 8.3% in San Francisco and 8.1% in Other Resort Markets compared to 2024[70] Impairment and Other Expenses - Impairment expenses for the three months ended September 30, 2025, were $46.497 million, significantly higher than $1.908 million in the same period of 2024[36] - The company reported an impairment of $46.497 million for the three months ended September 30, 2025, compared to $1.908 million in 2024[55] Assets and Liabilities - Total assets as of September 30, 2025, are reported at $5,554.25 million, a decrease from $5,693.34 million as of December 31, 2024[34] - Total liabilities as of September 30, 2025, amount to $2,946.66 million, compared to $2,905.46 million at the end of 2024[34] Other Information - The company owns 46 hotels and resorts, totaling approximately 12,000 guest rooms across 13 urban and resort markets[26] - The company anticipates an estimated $2.0 million from an expected initial business interruption insurance income settlement related to LaPlaya due to Hurricane Milton[24] - The company excluded Newport Harbor Island Resort from Q1 and Q2 2025 due to its redevelopment[71] - The company anticipates growth in Same-Property RevPAR and Total Revenue for 2025, excluding certain properties from the calculations[86]

Financial Performance - Net income for the three months ended September 30, 2025, increased by $3.1 million, or 41.6%, to $10.6 million compared to $7.5 million for the same period in 2024[96]. - For the nine months ended September 30, 2025, net income available to common shareholders increased by $6.6 million, or 32.7%, to $26.7 million compared to $20.1 million for the same period in 2024[102]. - Net interest income for the third quarter of 2025 was $20.2 million, an increase of $5.4 million, or 37.0%, from $14.7 million in the third quarter of 2024[97]. - Net interest income for the nine months ended September 30, 2025, was $105.4 million, compared to $91.8 million for the same period in 2024, reflecting a significant increase[112]. - The net interest margin improved to 3.49% for the nine months ended September 30, 2025, compared to 2.99% for the same period in 2024[112]. Assets and Liabilities - As of September 30, 2025, the company reported total assets of $2.17 billion and total equity of $314.8 million[94]. - Total assets increased by $29.9 million, or 1.40%, to $2.17 billion as of September 30, 2025, primarily due to a $90.7 million increase in net loans[115]. - Total liabilities rose by $15.1 million, or 0.8%, to $1.86 billion, mainly due to a $121.5 million increase in total deposits[116]. - Total equity increased by $14.8 million, or 4.9%, to $314.8 million, attributed to retained earnings despite cash dividends and stock repurchases[117]. Loans and Deposits - Net loans increased by $90.7 million, or 4.9%, driven by growth in construction and commercial non-owner occupied loan portfolios[115]. - Total deposits increased by $121.5 million, or 7.5%, to $1.75 billion, with significant growth in money market balances[116]. - Loans receivable increased to $1.96 billion at September 30, 2025, from $1.87 billion at December 31, 2024, an increase of $92.0 million, or 4.9%[126]. - Money market deposits increased by $273.3 million, primarily due to a $218.3 million increase in the premier money market account balance[127]. Expenses and Provisions - The provision for credit losses for the three months ended September 30, 2025, was $0.4 million, compared to a recovery of $0.1 million for the same period in 2024, marking an increase of $0.5 million[98]. - The provision for credit losses for the nine months ended September 30, 2025, was $1.9 million, an increase of $1.4 million compared to $0.5 million for the same period in 2024[104]. - Non-interest expense increased by $0.8 million, or 12.6%, to $7.2 million for the three months ended September 30, 2025, compared to the same period in 2024[100]. - Non-interest expense for the nine months ended September 30, 2025, increased by $1.2 million, or 6.5%, to $20.4 million compared to the same period in 2024[106]. Cash Flow and Investments - Cash provided by operating activities was $25.1 million during the nine months ended September 30, 2025, compared to $26.6 million for the same period in the prior year[136]. - Cash used in investing activities was $91.6 million during the nine months ended September 30, 2025, compared to $52.3 million in the same period last year[137]. Legal Matters - The Company is involved in a legal matter where unit owners claim damages totaling approximately $1.7 million related to the Absecon Gardens Condominium project[150]. - The Company has a loan default case involving Voorhees Diner Corporation, with the original loan amount of $1.0 million increased to $1.4 million[151]. - The Company believes that no material losses are anticipated from various contingent liabilities and legal actions outstanding in the normal course of business[152]. Capitalization - The Company and the Bank were both considered "well capitalized" as of September 30, 2025[141]. - Estimated uninsured deposits increased to $881.8 million at September 30, 2025, from $642.7 million at December 31, 2024, an increase of $239.1 million, or 37.2%[128].

Financial Performance - Net sales for the six months ended September 30, 2025, increased by 14% to $343.9 million compared to the same period in 2024[3] - Adjusted net income for the six months ended September 30, 2025, was $40.7 million, with adjusted diluted earnings per share at $0.68[3] - The company reported a net income of $3.0 million on a GAAP basis for the three months ended September 30, 2025[3] - Net income for the six months ended September 30, 2025, was $36,307 thousand, a decrease of 45% compared to $66,575 thousand for the same period in 2024[23] - Adjusted net income for the six months ended September 30, 2025, was $92,050 thousand, down from $109,313 thousand in 2024, a decrease of 15.8%[30] Expenses - Selling, general and administrative (SG&A) expenses increased by $45.0 million to $231.1 million, representing 67% of net sales[3] - Adjusted SG&A for the six months ended September 30, 2025, increased by $45.9 million to $370.5 million, or 53% of net sales[3] - Selling, general and administrative expenses for the six months ended September 30, 2025, were $426,974 thousand, up 16% from $366,716 thousand in 2024[28] - The company incurred acquisition-related seller expenses of $47,100 thousand during the six months ended September 30, 2025[23] Cash and Assets - As of September 30, 2025, the company had $194.4 million in cash and cash equivalents, up from $96.8 million a year earlier[5] - Cash and cash equivalents at the end of the period increased to $199,403 thousand, compared to $96,768 thousand a year earlier, marking a growth of 106%[23] - Total assets increased to $2,318,782 thousand as of September 30, 2025, up from $1,237,015 thousand a year ago, representing a growth of 87%[21] Liabilities and Debt - Total liabilities increased to $1,179,773 thousand as of September 30, 2025, compared to $509,320 thousand a year ago, reflecting a rise of 131%[21] - Long-term debt increased significantly to $831,551 thousand as of September 30, 2025, from $156,648 thousand a year ago, an increase of 431%[21] Future Projections - The company expects an 18-20% increase in net sales for Fiscal 2026, projecting net sales between $1,550 million and $1,570 million[6][7] - Adjusted EBITDA for Fiscal 2026 is projected to be between $302 million and $306 million, compared to $297 million in Fiscal 2025[7] Operational Highlights - The company achieved a record-breaking launch of the rhode brand in Sephora North America, contributing to market share gains[2] - Adjusted EBITDA for the six months ended September 30, 2025, was $153,300 thousand, an increase of 4.4% from $146,763 thousand in 2024[25] - The company reported a net cash provided by operating activities of $50,648 thousand for the six months ended September 30, 2025, compared to $12,449 thousand in 2024[23]

Financial Transactions - The company completed the sale of a 55% equity interest in its Worldpay Merchant Solutions business for an enterprise value of $18.5 billion, net cash proceeds exceeding $12 billion[142][146]. - The pending acquisition of the Issuer Solutions business from Global Payments is valued at $13.5 billion, with a net purchase price of $12.0 billion after adjustments[143]. - The company plans to fund the cash portion of the Issuer Solutions acquisition with approximately $8.0 billion of new debt, expected to close in Q1 2026[143][145]. - The company recorded a cumulative loss on the 2024 Worldpay Sale of $578 million, alongside a cumulative tax benefit of $1.1 billion from the release of U.S. deferred tax liabilities[148]. - As of September 30, 2025, the carrying value of the Worldpay equity method investment was $3.8 billion, with expected gains upon the sale of the remaining interest[149]. - The company repurchased approximately 4.2 million shares for approximately $301 million during the quarter ended September 30, 2025, with $2.1 billion remaining available for repurchase[193]. - For the year 2024, the company received $12.8 billion in cash proceeds and divested $3.1 billion in cash and cash equivalents related to the Worldpay Sale[196]. - The company expects to continue receiving regular cash distributions from Worldpay, amounting to $107 million and $40 million for the nine months ended September 30, 2025 and 2024, respectively[197]. Revenue and Profitability - Revenue from continuing operations is primarily derived from technology and processing solutions, transaction processing fees, and professional services, with a significant portion being recurring under multi-year contracts[144]. - Revenue for the three months ended September 30, 2025, increased by $147 million, or 6%, to $2,717 million compared to $2,570 million in 2024[159]. - Gross profit margin for the three months ended September 30, 2025, remained flat at 38% year-over-year, while the nine-month gross profit margin decreased to 36% from 38%[162]. - Selling, general and administrative expenses for the three months ended September 30, 2025, increased by $63 million, or 12%, to $584 million compared to $521 million in 2024[163]. - Operating income for the three months ended September 30, 2025, decreased by $33 million, or 7%, to $457 million compared to $490 million in 2024[167]. - Interest expense for the three months ended September 30, 2025, increased by $26 million, or 41%, to $90 million compared to $64 million in 2024[169]. - The effective tax rate for the three months ended September 30, 2025, was 23%, down from 28% in 2024[172]. - Recurring revenue growth was driven by broad-based growth across the Banking portfolio, particularly in core and digital payments businesses[161]. - The company experienced a decrease in non-recurring revenue due to the divestiture of a non-strategic business during the first quarter of 2025[161]. - Revenue in the Banking Solutions segment increased by 6% to $1,894 million for the three months ended September 30, 2025, driven by broad-based growth across the portfolio[178]. - Adjusted EBITDA for the Banking Solutions segment was $804 million for the three months ended September 30, 2025, with an adjusted EBITDA margin of 45.8%[177]. - Revenue in the Capital Market Solutions segment increased by 7% to $783 million for the three months ended September 30, 2025, primarily due to recurring revenue growth[180]. - Adjusted EBITDA for the Capital Market Solutions segment was $396 million for the three months ended September 30, 2025, with an adjusted EBITDA margin of 50.5%[180]. - Revenue in the Corporate and Other segment decreased by 34% to $40 million for the three months ended September 30, 2025, primarily due to the divestiture of a non-strategic business[186]. Cash Flow and Liquidity - Cash flows from operations increased by $457 million to $1,850 million for the nine months ended September 30, 2025, compared to $1,393 million in 2024[194]. - As of September 30, 2025, the company had $2.9 billion of available liquidity, including $571 million in cash and cash equivalents[190]. - The company intends to maintain investment-grade debt ratings and believes current cash levels will suffice for operating cash requirements and debt service payments for the next 12 months[191]. - Cash flows from financing activities primarily involve borrowing funds, repaying debt, repurchasing shares, and paying dividends[199]. Strategic Initiatives and Market Position - The company continues to invest in modernization and innovation, focusing on integrated solutions to meet market demands and regulatory requirements[151][152]. - The company aims to strategically allocate resources to both internal and external growth initiatives to enhance long-term value[141]. - The integration of the Issuer Solutions business is anticipated to provide expected cost and revenue synergies, although risks remain regarding the complexity and timing of integration[140]. - The company is positioned to benefit from the ongoing consolidation in the banking industry, as merged entities often migrate to a single platform, potentially increasing demand for its solutions[154]. - The company plans to temporarily pause further investment in acquisitions after closing the Issuer Solutions Acquisition to accelerate deleveraging until it returns to its target leverage ratio[196]. Risk Management - Cybersecurity threats are increasing in frequency and complexity, prompting the company to enhance its fraud, security, risk management, and compliance solutions[157]. Accounting and Compliance - Recent accounting pronouncements are not expected to have a material impact on the company's consolidated financial statements[201]. - There were no material changes in the company's contractual obligations through the nine months ended September 30, 2025, compared to the previous year[200].

Revenue Performance - Total revenue for Q3 2025 was $14.7 million, an increase of $1.3 million, or 10%, compared to Q3 2024[5] - U.S. revenue for Q3 2025 was $13.5 million, reflecting a 10% increase from the prior year, with 420 revenue units sold[6] - Revenue for the three months ended September 30, 2025, was $14,690 million, an increase from $13,373 million in the same period of 2024, representing a growth of 9.8%[26] - The company updated its full-year 2025 revenue guidance to between $55.6 million and $56.6 million[19] - For Q4 2025, the company expects total revenue between $15.0 million and $16.0 million[16] Profitability - Gross profit for Q3 2025 was $12.8 million, a 15% increase year-over-year, with a gross margin of 87%[10] - Gross profit for the nine months ended September 30, 2025, was $34,515 million, compared to $30,187 million for the same period in 2024, reflecting an increase of 14.4%[26] - The net loss for Q3 2025 was $12.9 million, or $0.49 per share, compared to a net loss of $13.1 million, or $0.57 per share, in Q3 2024[14] - The net loss for the three months ended September 30, 2025, was $12,870 million, slightly improved from a net loss of $13,099 million in the same period of 2024[26] - Net loss per share, basic and diluted, for the three months ended September 30, 2025, was $0.49, compared to $0.57 for the same period in 2024[26] Expenses - R&D expenses increased by $0.6 million, or 26%, to $3.1 million in Q3 2025[11] - Research and development expenses for the three months ended September 30, 2025, were $3,146 million, an increase from $2,504 million in 2024, marking a growth of 25.7%[26] - SG&A expenses rose by $0.2 million, or 1%, to $21.9 million in Q3 2025[12] - Selling, general and administrative expenses for the nine months ended September 30, 2025, totaled $66,464 million, down from $71,077 million in 2024, a decrease of 6.5%[26] - Total operating expenses for the three months ended September 30, 2025, were $25,021 million, up from $24,136 million in 2024, indicating a rise of 3.7%[26] Cash and Financial Position - Cash and cash equivalents as of September 30, 2025, were $85.1 million, with net cash used in operating and investing activities at $10.0 million[15] Other Financial Metrics - Interest expense for the three months ended September 30, 2025, was $1,480 million, compared to $958 million in the same period of 2024, representing an increase of 54.5%[26] - Other income for the nine months ended September 30, 2025, was $3,108 million, up from $2,905 million in 2024, reflecting a growth of 7%[26] - Active implanting centers in the U.S. grew to 250, a 20% increase since September 30, 2024[8] - The cumulative translation adjustment for the three months ended September 30, 2025, was $(1) million, compared to $2 million in the same period of 2024[26]

Revenue Performance - Product revenue increased by 3.6% to $12.813 million, while service revenue rose by 1.6% to $7.106 million for the three months ended September 30, 2025[129]. - Total revenue for the same period reached $19.919 million, reflecting a 2.9% increase compared to $19.361 million in the prior year[129]. - Total revenue for the first six months of FY2026 was $39.494 million, a 0.6% increase from $39.267 million in FY2025, driven by a 4.7% increase in product revenue[138]. - Service revenue decreased by 6.8%, or $1.0 million, to $13.169 million in the first six months of FY2026 compared to FY2025[138]. Profitability and Margins - Gross profit increased by 38.1% to $6.177 million, with gross margin improving from 23.1% to 31.0% due to higher revenue in the EV and maintenance segments[129]. - Gross profit increased by 37.7% to $12.078 million in the first six months of FY2026, with gross margin improving from 22.3% to 30.6%[138]. Expenses - Cost of service revenue decreased by 17.3% to $4.965 million, primarily due to restructuring efforts made in fiscal 2025[129]. - General and administrative expenses decreased by 16.5% to $3.812 million, attributed to the absence of Voltrek earnout expenses and reduced wages[130]. - Sales and marketing expenses fell by 16.6% to $2.376 million, mainly due to decreased wages and benefits from restructuring[131]. - Research and development expenses decreased by 29.6% to $231,000 compared to the previous year[132]. Segment Performance - Lighting segment revenue decreased by 1.6%, or $0.2 million, to $10.664 million in Q2 FY2026 compared to Q2 FY2025, with an operating loss reduced by 33.4% to $853 thousand[134]. - Maintenance segment revenue increased by 18.3%, or $0.7 million, to $4.491 million in Q2 FY2026, with operating income rising by 257.4% to $554 thousand[135]. - EV segment revenue increased by 0.8%, or $39 thousand, to $4.764 million in Q2 FY2026, with operating income improving by 275.3% to $1.059 million[136]. - Maintenance segment revenue for the first six months of FY2026 increased by 19.2%, or $1.4 million, to $8.488 million, with operating income rising to $683 thousand[144]. - EV segment revenue decreased by 12.8%, or $1.1 million, to $7.460 million in the first six months of FY2026, but operating income improved by 188.3% to $737 thousand[147]. Cash Flow and Liquidity - Cash and cash equivalents decreased to approximately $5.2 million as of September 30, 2025, from $6.0 million at March 31, 2025, due to a $1.3 million debt repayment[149]. - Cash provided by operating activities was $1.304 million in the first six months of FY2026, compared to a cash outflow of $2.464 million in the same period of FY2025[151]. - Cash used in financing activities was $1.8 million in the first six months of fiscal 2026, primarily due to payments on the revolving credit facility and long-term debt[154]. - Cash provided by financing activities was $2.5 million in the first six months of fiscal 2025, mainly from a term loan, partially offset by payments on the revolving credit facility and long-term debt[155]. - Net working capital as of September 30, 2025, was $8.1 million, with current assets of $32.0 million and current liabilities of $24.0 million[156]. - The borrowing base under the revolving credit facility supported approximately $14.1 million of availability as of September 30, 2025, with $5.8 million drawn against it[158]. Other Financial Information - The company expects customer concentration to remain around 24.3% for fiscal 2025, with efforts to diversify its customer base ongoing[127]. - The company completed a 1-for-10 reverse stock split on August 22, 2025, to comply with Nasdaq's Minimum Bid Price Rule[120]. - An estimated liability of approximately $1.4 million has been accrued for the remaining earnout amount related to the acquisition of Voltrek[121]. - Backlog totaled $18.2 million as of September 30, 2025, expected to be recognized as revenue within one year[166]. - Monthly principal payments of $25,000 on the Senior Subordinated Note will begin on January 15, 2026, increasing to $50,000 on July 15, 2026[163]. - The final Remaining Earnout Amount could exceed the current accrued liability and materially affect future liquidity[165]. - The credit agreement includes a springing minimum fixed cost coverage ratio of 1.0 to 1.0 when excess availability falls below $4.0 million, which is currently not required[160]. - The company has no off-balance sheet arrangements[167].