Drug Development and Clinical Trials - The company is developing a pipeline of RAS(ON) inhibitors, including daraxonrasib, elironrasib, and zoldonrasib, targeting RAS-addicted cancers [111]. - Daraxonrasib has received Breakthrough Therapy Designation from the FDA for previously treated metastatic pancreatic ductal adenocarcinoma (PDAC) with KRAS G12 mutations [112]. - The ongoing RASolute 302 study is a Phase 3 trial comparing daraxonrasib (300 mg daily) to chemotherapy, with expected clinical readout in 2026 [113]. - Elironrasib has received Breakthrough Therapy Designation from the FDA for KRAS G12C-mutated locally advanced or metastatic NSCLC [124]. - The company plans to initiate a global Phase 3 trial of daraxonrasib in combination with pembrolizumab and chemotherapy in 2026 [116]. - Clinical data for daraxonrasib showed it was well tolerated and demonstrated encouraging antitumor activity in patients with RAS-mutant PDAC [117]. - The company is evaluating multiple combination regimens for daraxonrasib, including with pembrolizumab and standard chemotherapy agents [120]. - Zoldonrasib is designed to irreversibly inactivate RAS G12D and is currently in development [130]. - The company is advancing RMC-5127 (G12V) into clinical development, expanding its RAS(ON) inhibitor portfolio [111]. - The company is winding down enrollment for the RASolute 302 study as it nears completion at all sites [113]. - The company expects to initiate a registration trial for zoldonrasib combination therapy in first-line metastatic PDAC in the first half of 2026 [132]. - A first-in-human dose escalation clinical trial of RMC-5127 is expected to begin in Q1 2026 [134]. - The company plans to conduct additional pivotal combination studies in 2026 that incorporate either zoldonrasib or elironrasib [132]. - The company entered into a collaboration with Tango Therapeutics in November 2024 to investigate vopimetostat in combination with daraxonrasib and zoldonrasib [139]. Financial Performance - Research and development expenses for Q3 2025 were $262.5 million, an increase of 73% from $151.8 million in Q3 2024 [152]. - General and administrative expenses for Q3 2025 were $52.8 million, up 120% from $24.0 million in Q3 2024 [152]. - Total operating expenses for the nine months ended September 30, 2025, reached $820.7 million, a 73% increase compared to $473.2 million for the same period in 2024 [152]. - The net loss for Q3 2025 was $305.2 million, compared to a net loss of $156.3 million in Q3 2024, reflecting an increase of 95% [152]. - Interest income for Q3 2025 was $22.1 million, an increase from $20.4 million in Q3 2024 [152]. - Research and development expenses increased by $110.8 million, or 73%, during the three months ended September 30, 2025, compared to the same period in 2024, primarily due to higher clinical trial expenses for daraxonrasib [153]. - Total research and development expenses for the nine months ended September 30, 2025, were $692.4 million, an increase of $288.3 million, or 71%, compared to the same period in 2024 [154]. - General and administrative expenses rose by $28.8 million, or 120%, during the three months ended September 30, 2025, driven by increased commercial preparation and employee-related expenses [155]. - Interest income increased by $1.7 million during the three months ended September 30, 2025, due to a larger cash and marketable securities balance [157]. - Interest expense increased by $11.4 million during the three months ended September 30, 2025, primarily due to the Royalty Purchase Agreement [158]. - As of September 30, 2025, the company had $1.9 billion in cash, cash equivalents, and marketable securities [172]. - The company completed the EQRx Acquisition in November 2023, issuing 54,786,528 shares and receiving $1.1 billion in net cash [162]. - The company entered into a Royalty Purchase Agreement in June 2025, receiving an upfront payment of $250 million and the potential for an additional $1 billion in synthetic royalty funding [164]. - The company has an accumulated deficit of $2.5 billion as of September 30, 2025, with primary cash usage for research and development expenditures [173]. - The company expects expenses to continue to increase as it advances product candidates into later stages of development, including larger clinical trials [173]. - The company has cash, cash equivalents, and marketable securities totaling $1.9 billion as of September 30, 2025, down from $2.3 billion as of December 31, 2024 [191]. - Cash used in operating activities for the nine months ended September 30, 2025, was $623.5 million, attributed to a net loss of $766.4 million [177]. - Cash provided by investing activities for the nine months ended September 30, 2025, was $43.2 million, consisting of $1.5 billion in maturities of marketable securities [179]. - Cash provided by financing activities for the nine months ended September 30, 2025, included $244.2 million from the sale of future royalties [181]. - The company anticipates substantial additional funds will be required for development efforts and potential commercialization of current and future programs [175]. - The company may seek additional capital through various means, including public or private equity offerings and debt financings, depending on market conditions [175]. - Cash used in operating activities for the nine months ended September 30, 2024, was $419.1 million, with a net loss of $405.5 million [178]. - The company entered into a Royalty Purchase Agreement in June 2025, allowing Royalty Pharma to receive tiered royalty payments on worldwide net product sales of daraxonrasib and zoldonrasib [185]. - The company has contractual obligations related to office and laboratory space lease in Redwood City, California [183]. - The company is exposed to interest rate risk, but historical fluctuations in interest income have not been significant due to the short-term maturities of its cash equivalents and marketable securities [191].

Financial Performance - Revenues increased by 8% to $318.9 million compared to $294.3 million in Q3 2024[3] - Net income for Q3 2025 was $20.6 million, or $0.79 per diluted share, up from $19.6 million, or $0.74 per diluted share in Q3 2024[6] - Total revenues for the three months ended September 30, 2025, increased to $318,949,000, up from $294,278,000 in the same period of 2024, representing a growth of 8.5%[25] - Professional employer services revenue rose to $299,685,000, compared to $272,793,000 in the prior year, reflecting an increase of 9.8%[25] - Net income for the three months ended September 30, 2025, was $20,619,000, up from $19,628,000 in 2024, marking a growth of 5.1%[25] - Basic income per common share increased to $0.80 for the three months ended September 30, 2025, compared to $0.75 in the same period of 2024, a rise of 6.7%[25] - Total revenues for the nine months ended September 30, 2025, reached $919,172,000, compared to $839,711,000 in 2024, showing a growth of 9.4%[25] - Diluted income per common share for the three months ended September 30, 2025, was $0.79, up from $0.74 in the same period of 2024, an increase of 6.8%[25] Operational Metrics - Gross billings rose by 9% to $2.32 billion from $2.14 billion in the same quarter last year[4] - Average worksite employees (WSEs) increased by 6% year-over-year[6] - The average number of WSEs is projected to grow by 6% to 8%[14] Cost and Expenses - Workers' compensation expense as a percentage of gross billings was 2.2%, down from 2.3% in Q3 2024[5] - Total cost of revenues for the three months ended September 30, 2025, was $242,184,000, up from $219,866,000 in 2024, reflecting an increase of 10.1%[25] - Income from operations for the three months ended September 30, 2025, was $24,782,000, compared to $23,453,000 in 2024, representing a growth of 5.6%[25] - Provision for income taxes for the three months ended September 30, 2025, was $6,133,000, slightly up from $6,076,000 in 2024, an increase of 0.9%[25] - Gross margin for the three months ended September 30, 2025, was $76,765,000, compared to $74,412,000 in 2024, indicating an increase of 3.2%[25] Shareholder Actions - The company repurchased $7.5 million of stock in Q3 2025, with approximately $92.5 million remaining under the repurchase program[9] Future Outlook - BBSI expects gross billings growth of 8.5% to 9.5% for 2025[14] - The company remains debt-free as of the end of Q3 2025[7] - Total current assets increased to $516.9 million as of September 30, 2025, compared to $475.4 million at the end of 2024[23]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________________ to _________________ Commission File Number: 001-38541 Dianthus Therapeutics, Inc. (Exact Name of Registrant as Specified in its Charter) ...

Financial Performance - Revenues for Q2 FY2025 were $65.9 million, a 20% increase from $54.5 million in Q2 FY2024, driven by organic growth and the acquisition of NWL, Inc.[2] - Net income for Q2 FY2025 was $4.8 million, or $0.11 per share, compared to $4.9 million, or $0.13 per share in Q2 FY2024; non-GAAP net income was $8.9 million, or $0.20 per share, down from $10.0 million, or $0.27 per share in the prior year[3] - AMSC's total revenues for the first six months of FY2025 reached $138.2 million, compared to $94.8 million in the same period of FY2024[13] - Net income for the six months ended September 30, 2025, was $11.5 million, compared to $2.4 million for the same period in 2024, marking a 384.5% increase[16] - Non-GAAP net income for the six months ended September 30, 2025, was $20.4 million, up from $13.2 million in 2024, reflecting a 54.1% increase[17] Profitability - AMSC achieved gross margins greater than 30% in Q2 FY2025, marking a strong performance in profitability[5] - The company has experienced five consecutive quarters of profitability, indicating a positive trend in financial performance[5] - AMSC's operating income for Q2 FY2025 was $3.0 million, a significant improvement from an operating loss of $0.8 million in Q2 FY2024[13] Cash and Assets - Cash, cash equivalents, and restricted cash totaled $218.8 million as of September 30, 2025, significantly up from $85.4 million at March 31, 2025[4] - Total assets increased to $445.6 million as of September 30, 2025, up from $310.5 million on March 31, 2025, representing a 43.4% growth[15] - Cash, cash equivalents, and restricted cash at the end of the period totaled $218.8 million, significantly up from $74.8 million a year earlier, indicating a 192.5% increase[16] Expenses - Research and development expenses for Q2 FY2025 were $3.7 million, up from $2.6 million in Q2 FY2024, reflecting increased investment in innovation[13] - Stock-based compensation expense for the six months ended September 30, 2025, was $8.3 million, compared to $2.1 million in 2024, representing a 299.0% increase[17] Future Projections - For Q3 FY2025, AMSC expects revenues to be between $65.0 million and $70.0 million, with net income projected to exceed $2.0 million, or $0.05 per share[7] - The company anticipates a non-GAAP net income of $6.0 million for the quarter ending December 31, 2025, with a projected non-GAAP net income per share of $0.14[18] Liabilities and Cash Flow - Total current liabilities decreased to $87.8 million as of September 30, 2025, down from $99.8 million on March 31, 2025, a reduction of 12.1%[15] - The company reported a net cash provided by operating activities of $10.6 million for the six months ended September 30, 2025, compared to $16.1 million in 2024, a decrease of 34.1%[16] - The company completed a public equity offering, generating proceeds of $124.6 million, which contributed to the increase in cash reserves[16] Share Information - The weighted average shares outstanding for basic calculations increased to 41.1 million for the six months ended September 30, 2025, compared to 36.3 million in 2024[17] Market Demand - The company reported strong order demand across energy and military markets, supported by domestic manufacturing and reliable power needs[5]

Recent Business Highlights • Revenue grew 14% year over year to $1.72 billion • Product revenue grew 18% year over year to $559.3 million • Billings grew 14% year over year to $1.81 billion 1 • Record third quarter GAAP operating margin of 32% • Record third quarter Non-GAAP operating margin of 37% 1 Press Release Fortinet Reports Third Quarter 2025 Financial Results Highlights SUNNYVALE, Calif. - November 5, 2025 - Fortinet® (Nasdaq: FTNT), a global cybersecurity leader driving the convergence of networkin ...

Revenue Performance - Total revenue for Q3 2025 was $14.1 million, a 16.5% increase from $12.1 million in Q3 2024[7] - MRAM product sales reached $12.7 million, up from $10.4 million in the same quarter last year, representing a 22.1% growth[7] - Revenue for the three months ended September 30, 2025, was $14,060 million, representing a 16% year-over-year increase from $12,093 million[22] Profitability Metrics - Gross margin improved to 51.3%, compared to 49.2% in Q3 2024[7] - Gross profit for the same period was $7,206 million, with a gross margin of 51.3%, up 2.1 percentage points from 49.2%[22] - The company reported a gross margin of 52.4% on a non-GAAP basis for the three months ended September 30, 2025, compared to 51.0% in the previous year[23] Net Income and Loss - GAAP net income was $54,000, or $0.00 per diluted share, down from $2.3 million, or $0.10 per diluted share, in Q3 2024[7] - Non-GAAP net income for Q3 2025 was $1.5 million, or $0.06 per diluted share, compared to $3.8 million, or $0.17 per diluted share, in Q3 2024[7] - Net income for the three months ended September 30, 2025, was $54 million, a significant decrease of 98% from $2,271 million in 2024[22] - For the nine months ended September 30, 2025, the net loss was $1,782 million, compared to a net loss of $433 million in 2024[20] Operating Expenses - Operating expenses for Q3 2025 were $8.8 million, compared to $8.1 million in Q3 2024[7] - Operating income improved to a loss of $1,545 million, a 27% reduction in loss compared to $2,115 million in the prior year[22] - Non-GAAP operating income for the same period was a loss of $138 million, a 76% improvement from a loss of $583 million in the previous year[23] Cash and Assets - Cash and cash equivalents increased by $3.2 million to $45.3 million as of September 30, 2025, compared to $42.1 million at the end of 2024[7] - Cash and cash equivalents at the end of the period increased to $45,257 million from $39,588 million in 2024[20] - Everspin's total assets as of September 30, 2025, were $80.3 million, an increase from $77.8 million at the end of 2024[16] Future Projections - Everspin expects Q4 2025 total revenue to be between $14.0 million and $15.0 million, with GAAP net income per diluted share projected between $0.02 and $0.07[5] - The company reported interest and other income of $1.6 million, down from $4.4 million in Q3 2024[7] - Operating cash flows provided $7,336 million, significantly up from $3,266 million in the previous year[20] - Stock-based compensation for the three months ended September 30, 2025, was $4,403 million, slightly down from $5,108 million in 2024[20]

Financial Performance - Gross premiums written reached $387.2 million in Q3 2025, compared to $331.7 million in Q3 2024, reflecting a 16.7% increase[78] - Gross premiums earned for Q3 2025 were $373.1 million, up from $317.0 million in Q3 2024, indicating a growth of 17.7%[78] - Total revenues for Q3 2025 were $387.8 million, a 26.9% increase from $305.7 million in Q3 2024[117] - Net premiums earned increased by 28.9% to $360.1 million for the three months ended September 30, 2025, compared to $279.3 million in 2024[117] - Net income surged by $26.2 million, or 297.7%, reaching $35.0 million for the nine months ended September 30, 2025, compared to $8.8 million in 2024[128] - Total revenues rose by $270.3 million, or 31.8%, to $1,120.1 million for the nine months ended September 30, 2025, from $849.8 million in 2024[128] Claims and Loss Ratios - The net combined ratio for Q3 2025 was 102.1%, compared to 91.1% in Q3 2024, indicating a deterioration in underwriting performance[78] - The gross loss ratio for Q3 2025 was 58.5%, slightly up from 57.1% in Q3 2024, suggesting increased claims severity[78] - Gross accident period loss ratio increased to 59.5% in Q3 2025 from 55.5% in Q3 2024, driven by higher loss costs and a geographic mix shift[123] - The gross accident period loss ratio increased to 58.7% for the nine months ended September 30, 2025, from 57.9% in 2024, driven by higher loss costs[135] - Loss and loss adjustment expenses rose by 29.8% to $239.4 million in Q3 2025, up from $184.5 million in Q3 2024[117] - Loss and loss adjustment expenses increased by $137.1 million, or 25.3%, totaling $678.3 million for the nine months ended September 30, 2025[128] Operating Expenses - Operating expenses increased by 42.8% to $387.5 million in Q3 2025, compared to $271.3 million in Q3 2024[117] - Operating expenses increased by $262.6 million, or 32.6%, totaling $1,068.8 million for the nine months ended September 30, 2025, compared to $806.2 million in 2024[128] - Sales and marketing expenses increased by 19.4% to $40.6 million in Q3 2025, compared to $34.0 million in Q3 2024[117] - Sales and marketing expenses rose by $30.6 million, or 31.0%, to $129.2 million for the nine months ended September 30, 2025[128] - Other insurance expenses surged by 199.1% to $67.0 million in Q3 2025, up from $22.4 million in Q3 2024[117] - Other insurance expenses increased by $76.5 million, or 101.9%, totaling $151.6 million for the nine months ended September 30, 2025[128] Net Income and Loss - Net loss for Q3 2025 was $(5.4) million, compared to a net income of $22.8 million in Q3 2024, reflecting a significant decline[78] - Net loss for Q3 2025 was $5.4 million, a decline from net income of $22.8 million in Q3 2024, representing a 123.7% decrease[117] Cash Flow and Capital Management - Net cash provided by operating activities for the nine months ended September 30, 2025, was $136.4 million, an increase from $126.5 million in the same period of 2024[162] - Net cash used in investing activities decreased to $59.2 million for the nine months ended September 30, 2025, compared to $114.1 million in 2024, primarily due to lower purchases of investments[163] - Net cash used in financing activities increased to $23.1 million for the nine months ended September 30, 2025, from $16.3 million in 2024, mainly due to higher tax withholding obligations[164] - As of September 30, 2025, the company had $653.3 million in cash and cash equivalents, with $308.5 million held outside of regulated insurance entities[155] - The company expects existing cash, cash equivalents, and marketable securities to support short-term working capital and capital expenditure requirements for at least the next 12 months[156] Strategic Initiatives - The company has strategically reduced the utilization of external quota share reinsurance to balance the cost of reinsurance with capital efficiency[74] - Economic instability has led to inflationary pressures and increased vehicle repair and medical costs, impacting claims severity and overall performance[75] - The company entered into an Amended Term Loan in October 2024, with a principal amount due on October 29, 2030, and interest determined on a floating rate[154] - The company’s cash flow from operations is highly dependent on efficiently acquiring and maintaining customers while pricing insurance products appropriately[147]

Financial Performance - Total revenue for Q3 2025 increased 54% to $54.3 million, compared to $35.3 million in Q3 2024[4] - Software revenue for Q3 2025 grew 28% to $40.9 million, up from $31.9 million in Q3 2024[4] - Drug discovery revenue surged 295% to $13.5 million in Q3 2025, compared to $3.4 million in Q3 2024[4] - Net loss for Q3 2025 was $32.8 million, an improvement from a net loss of $38.1 million in Q3 2024[4] - Gross profit for Q3 2025 was $28,039 million, compared to $17,728 million in Q3 2024, reflecting a gross margin improvement[22] - Net loss narrowed to $32,795 million in Q3 2025 from $38,136 million in Q3 2024, indicating improved financial performance[22] - Non-GAAP net loss for Q3 2025 was $42,324 million, compared to $63,685 million in Q3 2024, showing a significant reduction in losses[28] Operating Expenses - Operating expenses decreased by 14% to $74.0 million in Q3 2025, down from $86.2 million in Q3 2024[4] - Operating expenses decreased to $73,986 million in Q3 2025 from $86,150 million in Q3 2024, a reduction of 14%[22] Cash and Assets - Cash, cash equivalents, restricted cash, and marketable securities totaled $401.0 million at the end of Q3 2025, compared to $367.5 million at the end of 2024[4] - Cash and cash equivalents increased to $172,120 million as of September 30, 2025, up from $147,326 million at the end of 2024[24] - Total assets decreased to $653,660 million from $823,226 million at the end of 2024, primarily due to changes in current assets[24] - Total liabilities reduced to $332,308 million from $401,781 million at the end of 2024, reflecting improved financial health[24] Revenue Guidance - Updated software revenue growth guidance for 2025 is now expected to be between 8% and 13%, down from the previous range of 10% to 15%[7] - Drug discovery revenue guidance for 2025 is now projected to be between $49 million and $52 million, up from the prior expectation of $45 million to $50 million[7] Clinical Developments - The FDA granted SGR-1505 Orphan Drug Designation for the treatment of Waldenström macroglobulinemia in October 2025[6] - Schrödinger is progressing the Phase 1 clinical study of SGR-3515, with initial clinical data expected in the first half of 2026[7]

Financial Performance - Total revenue decreased by 2.3% to $140.0 million compared to $143.4 million in Q3 2024[5] - Net loss was $58.2 million, or $3.39 per diluted share, compared to a net loss of $44.8 million, or $2.74 per diluted share in Q3 2024[5] - Adjusted EBITDA was $13.1 million, down from $14.1 million in Q3 2024[5] - System-wide sales declined by 5.5%[5] - Total revenue for the thirteen weeks ended September 28, 2025, was $140,009,000, a decrease of 2.4% from $143,365,000 in the same period of 2024[26] - Net loss attributable to FAT Brands Inc. for the thirteen weeks ended September 28, 2025, was $58,219,000, compared to a net loss of $44,755,000 in the prior year, representing a 30.1% increase in loss[28] - Adjusted EBITDA for the thirty-nine weeks ended September 28, 2025, was $39,881,000, down from $48,012,000 in the same period of 2024, reflecting a decrease of 16.5%[27] - Restaurant sales for the thirty-nine weeks ended September 28, 2025, were $298,446,000, down 4.5% from $312,587,000 in the same period of 2024[26] - Basic and diluted loss per common share for the thirteen weeks ended September 28, 2025, was $3.39, compared to $2.74 in the prior year, indicating a 23.7% increase in loss per share[28] - Total costs and expenses for the thirteen weeks ended September 28, 2025, were $157,375,000, an increase of 3.6% from $152,198,000 in the same period of 2024[26] - Interest expense for the thirteen weeks ended September 28, 2025, was $37,101,000, compared to $31,109,000 in the same period of 2024, reflecting an increase of 19.2%[27] - Adjusted net loss for the thirty-nine weeks ended September 28, 2025, was $133,127,000, compared to $101,820,000 in the same period of 2024, representing a 30.5% increase[28] - Cash dividends declared per common share were $0.14 in the prior year, with no dividends declared for the current period[28] Operational Highlights - Same-store sales growth in the casual dining segment was 3.9%[4] - The company opened 60 new restaurants year-to-date, with 13 new store openings in Q3 2025[4][5] - Approximately 900 committed locations are expected to contribute $50-$60 million in incremental EBITDA once fully operational[4] - The partnership with Virtual Dining Concepts aims to expand Great American Cookies availability from Chuck E. Cheese locations nationwide[4] Expenses and Financial Strategy - General and administrative expenses increased by 23.7% to $42.7 million, primarily due to store closure costs[8] - General and administrative expenses increased to $42,665,000 for the thirteen weeks ended September 28, 2025, up from $34,481,000 in the same period of 2024, marking a 23.7% rise[26] - The company is negotiating a debt restructuring and plans a $75-$100 million equity raise to pay down debt[4]

Exhibit 99.1 FAT BRANDS INC. REPORTS THIRD QUARTER 2025 FINANCIAL RESULTS Conference call and webcast today at 4:30 p.m. ET LOS ANGELES (November 5, 2025) – FAT (Fresh. Authentic. Tasty.) Brands Inc. (NASDAQ: FAT) ("FAT Brands" or the "Company") today reported financial results for the fiscal third quarter ended September 28, 2025. Wiederhorn continued, "We have opened 60 new restaurants so far this year and remain focused on strategic expansion backed by approximately 900 committed locations, which are exp ...