Revenue Performance - Revenue for Q3 2025 was $86.2 million, an increase of 12% year-over-year, primarily driven by record Interactive revenue, which rose 48% year-over-year[3] - Total revenue for Q3 2025 was $86.2 million, a 11.7% increase from $77.2 million in Q3 2024[34] - Service revenue increased to $79.4 million in Q3 2025, up from $72.9 million in Q3 2024, representing a growth of 17.9%[34] - Total revenue for the nine months ended September 30, 2025, was $226.9 million, a 5.1% increase from $214.1 million in the same period of 2024[50][51] Adjusted EBITDA - Adjusted EBITDA for Q3 2025 was $32.3 million, up 11% from the prior year, with Interactive Adjusted EBITDA reaching an all-time high, increasing 55% year-over-year[3] - Fourth quarter 2025 Adjusted EBITDA is expected to increase year-over-year, with full year 2025 Adjusted EBITDA projected to exceed $110 million[3] - Adjusted EBITDA for the nine months ended September 30, 2025, was $79.1 million, up from $69.1 million in the prior year, reflecting a 14.5% increase[50][51] Net Income and Loss - The company reported a net loss of $1.9 million for Q3 2025, compared to a net income of $2.8 million in Q3 2024[4] - Net loss for Q3 2025 was $1.9 million, compared to a net income of $2.8 million in Q3 2024[34] - The company reported a comprehensive loss of $1.0 million for Q3 2025, compared to a loss of $2.8 million in Q3 2024[34] - Net loss for the nine months ended September 30, 2025, was $9.8 million, compared to a net loss of $2.2 million for the same period in 2024[38] Debt and Liabilities - Long-term debt increased to $344.4 million as of September 30, 2025, compared to $292.2 million at December 31, 2024, marking an increase of 17.9%[36] - Total current liabilities rose to $109.1 million as of September 30, 2025, compared to $104.0 million at December 31, 2024, an increase of 4.9%[36] - The company incurred $365.7 million in new debt during the nine months ended September 30, 2025, to support its operations and growth initiatives[38] Operational Efficiency - The company is optimizing workforce efficiency, reducing headcount from 1,460 to 975 employees by year-end 2025[12] - Selling, general and administrative expenses were $31.7 million in Q3 2025, slightly up from $31.4 million in Q3 2024[34] Strategic Initiatives - The sale of the UK holiday parks business for £18.6 million is expected to close on November 7, 2025, supporting the transition to a higher-margin digital-led business model[3] - The divestiture of the lower-margin holiday parks business is expected to enhance capital flexibility and support future growth investments[17] - The company launched new products, including the Hybrid Dealer™, which won the Global Gaming Award for Innovative Product of the Year[2] - Inspired expanded its presence in Brazil by launching Virtual Sports with six new operators during Q3 2025[11] - A $25 million share repurchase program has been authorized by the Board, reflecting confidence in the company's growth prospects[3] Segment Performance - The Gaming segment contributed $76.0 million, accounting for 33.5% of total revenue, while the Sports segment generated $27.2 million, representing 12.0% of total revenue[50] - The Interactive segment's revenue was $40.8 million, contributing 18.0% to total revenue, and the Leisure segment accounted for $82.9 million, or 36.5% of total revenue[50] - Segment-level adjusted EBITDA for Gaming was $27.8 million, for Sports was $16.9 million, for Interactive was $23.5 million, and for Leisure was $10.9 million[50] Cash Flow - Net cash provided by operating activities was $50.8 million for the nine months ended September 30, 2025, compared to $24.8 million for the same period in 2024, indicating a 104.8% increase[38] - Cash and cash equivalents at the end of the period were $36.3 million, slightly down from $36.5 million at the end of the previous period[38] Market Outlook - The company anticipates potential new customers and expects to execute its strategic plan in various markets[30] - The company plans to continue focusing on market expansion and new product development to drive future growth[50][51] - The overall performance indicates a positive trend in revenue growth and profitability across key segments, positioning the company for future opportunities[50][51]

Exhibit 99.1 INTERIM RESULTS FOR THE PERIOD ENDED SEPTEMBER 30, 2025 Highlights and subsequent events FLNG Hilli: Hilli has offloaded its 142nd cargo. The existing charter contract in Cameroon ends in July 2026. During Q3 2025, Golar selected Seatrium shipyard for the re-deployment scope following the unit's exit from Cameroon and before starting 20-years of operations in Argentina. Hilli is expected to enter Seatrium's Singapore yard in the third quarter of 2026 for upgrades and life extension works before ...

Financing Activities - The company completed a public offering of 17,968,750 shares at $8.00 per share, raising $134.6 million net of transaction costs[109]. - The company also completed a private placement, selling pre-funded warrants for 1,250,015 shares at $7.9999 each, generating $9.3 million net of transaction costs[110]. - The company raised $153.8 million in equity capital from the October 2025 Financing Transactions, receiving net proceeds of $143.9 million after transaction costs[139]. - Net cash provided by financing activities for the nine months ended September 30, 2024, was $88.7 million from a Private Placement offering, along with $0.5 million from stock options, offset by $0.3 million in principal payments on equipment finance leases[147]. Financial Position - As of September 30, 2025, the company had $122.8 million in cash, cash equivalents, and investments in U.S. Treasury securities[111]. - The company expects its cash and investments will be sufficient to fund planned operating expenses and capital expenditures into 2028[140]. Operating Losses and Expenses - The company reported net losses of $79.0 million for the nine months ended September 30, 2025, and $98.3 million for the year ended December 31, 2024, with an accumulated deficit of $359.2 million[111]. - The company anticipates continued net operating losses for several years, with increasing research and development expenses due to ongoing clinical trials and product development[112]. - General and administrative expenses are expected to approximate those incurred during the three months ended September 30, 2025, while decreasing on an annualized basis due to lower anticipated legal fees[120]. - For the three months ended September 30, 2025, total operating expenses decreased by $9.9 million to $21.6 million compared to $31.5 million in the same period of 2024[127]. - Research and development expenses for the three months ended September 30, 2025, were $15.7 million, down from $23.4 million in 2024, a decrease of $7.7 million[128]. - General and administrative expenses decreased by $2.2 million to $6.0 million for the three months ended September 30, 2025, compared to $8.1 million in 2024[129]. - The net loss for the three months ended September 30, 2025, was $20.3 million, an improvement of $9.2 million compared to a net loss of $29.5 million in 2024[127]. - For the nine months ended September 30, 2025, total research and development expenses were $47.6 million, down from $55.7 million in 2024, a decrease of $8.1 million[133]. - General and administrative expenses increased by $15.9 million to $38.6 million for the nine months ended September 30, 2025, compared to $22.7 million in 2024[134]. - The company reported a net cash used in operating activities of $78.5 million for the nine months ended September 30, 2025, compared to $52.8 million in 2024[140]. Product Development - The most advanced product candidate, LX2006, is in a Phase 1/2 clinical trial, showing sustained improvements in cardiac and neurologic measures in treated participants[106]. - The second product candidate, LX2020, has completed enrollment in its Phase 1/2 clinical trial, with ten participants dosed and generally well-tolerated results[106]. - The company expects to share additional clinical efficacy data for LX2020 in January 2026 at the J.P. Morgan Healthcare Conference[107]. - The company has not generated any revenue from product sales to date, relying on financing from stock sales and private placements[113]. Future Outlook and Risks - The company anticipates significant increases in expenses and capital requirements as it advances its lead product candidates and development programs, necessitating substantial additional funding[148]. - Future operating and capital requirements will depend on various factors, including the progress and costs of product discovery and clinical trials, as well as regulatory approval processes[148]. - The company may face challenges in raising additional funds or entering favorable collaborations, which could delay or scale back product development and commercialization[149]. Accounting and Reporting - Management's financial statements are prepared in accordance with U.S. GAAP, requiring estimates and judgments that may differ from actual results under different conditions[150]. - There have been no significant changes to critical accounting estimates from those described in the audited financial statements for the year ended December 31, 2024[151]. - The company qualifies as an "emerging growth company" under the JOBS Act, allowing it to take advantage of extended transition periods for new accounting standards[152]. - The company is classified as a smaller reporting company and is not required to provide certain market risk disclosures[153].

Customer Base and Revenue - As of September 30, 2025, the company had over 11,000 customers in 150 countries, including 36% of the Fortune 100[111] - Recurring revenue for the three and nine months ended September 30, 2025 was 96% and 97% of total revenue, compared to 96% for both periods in 2024[118] - Total revenue for Q3 2025 was $217,960,000, a 1.5% increase from $214,654,000 in Q3 2024[141] - The increase in total revenue for the nine months ended September 30, 2025 was primarily driven by renewals and upselling activities, contributing $19,600,000[141] - Annualized recurring revenue (ARR) as of September 30, 2025, was $837.73 million, representing a year-over-year growth of 1.8%[158] - Total revenue for the three months ended September 30, 2025, was $217.96 million, reflecting a year-over-year growth of 1.5%[155] Financial Performance - Net income for Q3 2025 was $9,809,000, a decrease of $5,601,000 (36.4%) from $15,410,000 in Q3 2024[138] - GAAP net income for the nine months ended September 30, 2025, was $20.252 million, down from $23.354 million in the same period of 2024, reflecting a decrease of 13.4%[171] - Non-GAAP net income for the nine months ended September 30, 2025, was $119.679 million, compared to $128.796 million in 2024, showing a decline of 7.1%[171] - Non-GAAP income from operations for the nine months ended September 30, 2025, was $105.61 million, down from $123.51 million in the same period in 2024[156] - Adjusted EBITDA for Q3 2025 was $43.5 million, a decrease of 13.1% compared to $50.1 million in Q3 2024[172] Expenses and Costs - Total operating expenses for the nine months ended September 30, 2025 were $445,587,000, an increase of $30,740,000 (7.4%) from the same period in 2024[138] - Research and development expenses for Q3 2025 were $46,914,000, an increase of $1,938,000 (4.3%) from Q3 2024[145] - Sales and marketing expenses for Q3 2025 totaled $79,296,000, up $4,475,000 (6.0%) from Q3 2024[138] - General and administrative expenses for the nine months ended September 30, 2025, rose by $3.6 million (5.8%) compared to the same period in 2024, driven by a $1.9 million increase in personnel expenses and a $2.4 million rise in professional fees[149] - Total cost of revenue for Q3 2025 was $64,984,000, up 2.9% from $63,157,000 in Q3 2024[143] Cash Flow and Investments - Free cash flow for the nine months ended September 30, 2025, was $97.82 million, compared to $95.24 million in the same period in 2024[157] - Cash and cash equivalents as of September 30, 2025, totaled $130.6 million, down from $230.1 million at the end of Q3 2024[178] - Total cash used in investing activities for the nine months ended September 30, 2025, was $292.2 million, significantly higher than $99.5 million in 2024[182] - Operating activities generated $116.3 million in cash for the nine months ended September 30, 2025, compared to $107.9 million in 2024[180] Tax and Other Income - The company recorded a benefit to the tax provision for the three months ended September 30, 2025, due to the One Big Beautiful Bill Act signed on July 4, 2025[116] - Interest income for the nine months ended September 30, 2025, increased by $1.9 million (12.4%) compared to the same period in 2024, attributed to higher cash and cash equivalents[151] - Other income for the nine months ended September 30, 2025, increased by $4.9 million (720.3%) compared to the same period in 2024, primarily due to favorable foreign exchange rates[153] - The provision for income taxes for the nine months ended September 30, 2025, decreased by $8.2 million (66.1%) compared to the same period in 2024, influenced by a prior period tax expense related to an intercompany sale of intellectual property[154] Company Strategy and Outlook - The company aims to be a leader in delivering integrated risk and threat management across on-premise, cloud, and external attack surfaces[109] - The Command Platform integrates cloud security, SIEM, advanced detection and response, and vulnerability management offerings[108] - The company expects operating expenses to increase as a percentage of revenue as it prioritizes investments to drive growth[129] - Gross margin is expected to fluctuate over time based on factors such as average sales price and revenue mix[128] Debt and Financial Obligations - The company entered into a $200 million revolving credit facility on June 25, 2025, with a letter of credit sublimit of $20 million[112] - The company has a credit agreement allowing for borrowings up to $200 million, with incremental facilities based on Consolidated EBITDA[174] - The company has a minimum spend commitment of $125 million per year over the next five years under a cloud-services agreement, totaling $660 million[176] - The fair value of the company's 2027 Notes and 2029 Notes as of September 30, 2025, was $560.6 million and $264.9 million, respectively[193] Market Conditions - The company does not believe that inflation had a material effect on its business, financial condition, or results of operations as of September 30, 2025[195] - If costs become subject to significant inflationary pressures, the company may not be able to fully offset such higher costs through price increases, which could harm its business and financial condition[195] - As of September 30, 2025, a hypothetical 10% increase or decrease in interest rates would not have had a material impact on the company's financial statements[194]

Financial Performance - Q3 2025 revenue totaled $715 million, up 3% from $691 million in Q3 2024[4] - Adjusted EBITDA for Q3 2025 was $141 million, a 25% increase from $112 million in Q3 2024[2] - Net income attributable to common stockholders was $849 million, compared to a loss of $63 million in Q3 2024[8] - Operating income for Q3 2025 was $94 million, up 62% from $58 million in Q3 2024[5] - Revenue for Q3 2025 was $715,183,000, a 3.0% increase from $691,300,000 in Q3 2024[28] - Operating income for Q3 2025 was $93,625,000, compared to $57,841,000 in Q3 2024, reflecting a significant improvement[28] - Net income for Q3 2025 was $848,478,000, a substantial increase from a net loss of $63,133,000 in Q3 2024[28] - Adjusted EBITDA for Q3 2025 increased to $140,633, up from $112,275 in Q3 2024, reflecting a margin of 19.7%[44] - Free Cash Flow for Q3 2025 was $13,417, compared to $5,102 in Q3 2024, indicating a positive cash generation trend[45] - Cash provided by operating activities for Q3 2025 was $33,686, an increase from $24,393 in Q3 2024[45] - The company reported a net income margin of 118.7% for Q3 2025, compared to a negative margin of (9.1)% in Q3 2024[44] Cash and Debt Management - Cash balance at the end of Q3 2025 was $683 million[2] - The company repaid approximately $825 million of debt during the quarter[2] - Cash and cash equivalents as of September 30, 2025, were $661,722,000, down from $724,479,000 at the end of 2024[30] - Total cash, cash equivalents, and restricted cash at the end of the period was $682,747, down from $689,801 at the beginning of the period[32] - The company made payments on borrowings from lenders totaling $2,048,415, while proceeds from borrowings were $1,325,000[32] - The company incurred $111,312 in interest expense for Q3 2025, slightly down from $113,126 in Q3 2024[44] Operational Highlights - Distribution revenue increased by $24 million, or 4%, to $575 million, driven by a $16 million increase in transaction-based revenue[7] - Total bookings reached 95 million, a 3% increase from Q3 2024 levels[7] - The company completed the sale of its Hospitality Solutions business, impacting financial results and operations[23] - The company anticipates continued growth in the travel industry, with a focus on enhancing technology solutions and operational efficiency[24] Forward-Looking Statements - Fourth quarter Pro Forma Adjusted EBITDA guidance is approximately $110 million, with expected low single-digit revenue growth[15] - Full-year Pro Forma Free Cash Flow guidance is expected to be approximately $70 million[14] - Forward-looking statements indicate potential risks including dependency on global travel transaction volumes and competition in the travel distribution industry[25] Adjusted Financial Metrics - Adjusted Net Loss is defined as net income attributable to common stockholders adjusted for various costs, including discontinued operations and stock-based compensation[34] - Adjusted EBITDA is calculated by adjusting income from continuing operations for depreciation, amortization, and other specified costs[35] - The company emphasizes the importance of non-GAAP financial measures for monitoring core operations and evaluating financial performance[40] - Pro Forma Free Cash Flow is adjusted to reflect the impact of the Hospitality Solutions Sale and related refinancing activities[39] - Adjusted Net Loss from continuing operations for Q3 2025 was $(4,880), an improvement from $(18,868) in Q3 2024[44] - Normalized Adjusted EBITDA for the nine months ended September 30, 2025, was $416,864, compared to $377,034 for the same period in 2024[44] Discontinued Operations - The company experienced a loss from discontinued operations amounting to $783,725 in 2025, compared to a gain of $4,484 in 2024[32] - Free Cash Flow from Discontinued Operations for Q3 2025 was $(1,179), compared to $2,449 in Q3 2024, indicating challenges in this segment[46] - Cash provided by investing activities was $1,054,898 for discontinued operations, contrasting with cash used of $3,211 in the previous year[32] - Cash used in investing activities for Q3 2025 was $(20,269), a decrease from $35,543 in Q3 2024[45]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________________________________________________________________________ FORM 10-Q (Exact name of registrant as specified in its charter) ___________________________________________________________________________________________ (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 ...

Financial Performance - U.S. Consumer net sales for fiscal 2025 were $2.99 billion, in line with guidance[6] - GAAP gross margin rate improved by 670 basis points to 30.6%, while non-GAAP adjusted gross margin improved by 490 basis points to 31.2%[6] - GAAP earnings per share increased by $3.08 to $2.47, and non-GAAP adjusted earnings per share rose by $1.45 to $3.74[6] - Non-GAAP adjusted EBITDA for fiscal 2025 was $581 million, an increase of $71 million compared to the prior year[6] - Free cash flow reached $274 million, exceeding expectations, with net leverage improving to 4.10x, a reduction of 0.76x year-over-year[6] - Fiscal 2026 guidance includes non-GAAP adjusted earnings per share projected between $4.15 and $4.35[6] - The company expects non-GAAP adjusted gross margin to be at least 32% in fiscal 2026[6] - The company reported a net income of $145.2 million for fiscal 2025, a significant improvement from a net loss of $34.9 million in the previous year[13] - The company anticipates continued solid financial performance in fiscal 2026, reflecting its growth strategy[3] - For the twelve months ended September 30, 2025, the company reported a net income of $145.2 million, compared to a net loss of $34.9 million for the same period in 2024, representing a significant turnaround[24] - Adjusted EBITDA for the twelve months ended September 30, 2025, was $581.1 million, an increase from $510.1 million in 2024, reflecting a growth of approximately 13.9%[24] - Income from operations for the twelve months ended September 30, 2025, was $358.6 million, compared to $208.8 million in 2024, marking an increase of 71.8%[24] - Diluted net income per common share for the twelve months ended September 30, 2025, was $2.47, a significant increase from a loss of $0.61 per share in 2024[24] Sales and Segment Performance - For the three months ended September 30, 2025, consolidated net sales decreased by 7% to $387.4 million compared to $414.7 million in the same period of 2024[15] - The U.S. Consumer segment reported net sales of $311.2 million, a slight increase of 0.5% from $309.7 million in the prior year[15] - The Hawthorne segment experienced a significant decline in net sales, down 38% to $49.9 million from $80.5 million year-over-year[15] - Segment Profit (Loss) for the U.S. Consumer improved by 21% to a loss of $65.5 million compared to a loss of $82.5 million in the previous year[15] Operational Efficiency and Cost Management - The company is strategically implementing AI and robotic automation to enhance operational efficiencies and cost savings[3] - The gross margin as a percentage of sales improved to 30.6% in 2025 from 23.9% in 2024, indicating enhanced operational efficiency[24] - The company incurred impairment, restructuring, and other charges totaling $83.8 million for the twelve months ended September 30, 2025, compared to $146.3 million in 2024, showing a reduction of 42.6%[24] - The company’s interest expense decreased to $128.8 million in 2025 from $158.8 million in 2024, representing a reduction of approximately 18.9%[24] Cash Flow and Assets - The company generated $371.3 million in net cash from operating activities, down from $667.5 million in the previous year[20] - Free cash flow for the twelve months ended September 30, 2025, was $273.9 million, down from $583.5 million in 2024, highlighting a decrease of approximately 53%[28] - Total assets decreased to $2,742.0 million as of September 30, 2025, down from $2,871.9 million in 2024[17] - Total liabilities decreased to $3,099.5 million from $3,262.5 million year-over-year[17] Tax and Impairment Charges - The company’s income tax expense for the twelve months ended September 30, 2025, was $76.5 million, compared to $11.3 million in 2024, indicating a substantial increase in tax obligations[24] - During the three months ended September 30, 2024, the Company incurred costs of $16.8 million related to restructuring initiatives[43] - For the twelve months ended September 30, 2024, the Company incurred total restructuring costs of $83.5 million[43] - The Company recognized a non-cash, pre-tax impairment charge of $64.6 million related to convertible debt investments during the three and twelve months ended September 30, 2024[43] - Pre-tax impairment charges of $51.5 million and $61.9 million were recorded for the investment in Bonnie Plants, LLC during the three and twelve months ended September 30, 2024, respectively[43] - A valuation allowance against certain deferred tax assets resulted in an additional tax expense of $15.6 million during the three and twelve months ended September 30, 2024[43] - The Company recorded a gain of $12.1 million associated with a payment received from a dispute resolution during the twelve months ended September 30, 2024[43]

Financial Performance - Total revenue for Q3 2025 was $92.4 million, representing a 4.0% increase year-over-year, marking the seventh consecutive quarter of mid-single-digit revenue growth [4] - GAAP net loss for Q3 2025 was $5.3 million, an improvement from a net loss of $6.0 million in the prior-year period [6] - Adjusted EBITDA for Q3 2025 was $2.3 million, compared to $0.5 million in the prior-year period, indicating the third consecutive quarter of positive adjusted EBITDA [7] - For the full year 2025, the company reiterates its revenue outlook in the range of $354 million to $357 million, reflecting approximately 6% growth at the midpoint compared to 2024 revenue [9] - The fourth quarter 2025 revenue is expected to be in the range of $87 million to $90 million, indicating approximately 10% year-over-year growth at the midpoint [10] - Adjusted net loss for Q3 2025 was $0.5 million, compared to an adjusted net loss of $2.6 million in the prior-year period [6] - Net loss for the nine months ended September 30, 2025, was $15,620,000, an improvement from a net loss of $26,131,000 in the same period of 2024 [26] - For the three months ended September 30, 2025, the company reported a net loss of $5,294 million, compared to a net loss of $5,963 million in the same period of 2024, representing a 11.2% improvement [31] - The total loss from operations for the nine months ended September 30, 2025, was $20,901 million, a decrease of 32.8% compared to a loss of $31,130 million in 2024 [31] Cash and Assets - The company has cash, cash equivalents, marketable securities, and restricted cash totaling $124.5 million as of September 30, 2025, with no debt outstanding [8] - Total current assets rose to $203,715,000 as of September 30, 2025, compared to $185,451,000 at the end of 2024, marking a 9.0% increase [24] - Cash and cash equivalents as of September 30, 2025, were $106,476,000, down from $113,795,000 at the end of 2024 [24] - The company reported a net cash used in operating activities of $10,273,000 for the nine months ended September 30, 2025, compared to a net cash provided of $8,932,000 in the same period of 2024 [26] Sales and Market Performance - Business-to-business international sales increased by 18.8% to $38,403,000 from $32,328,000 year-over-year [28] - Direct-to-consumer domestic sales declined by 17.9% to $15,803,000 from $19,249,000 year-over-year [28] - Units sold in Q3 2025 reached 51,100, up from 43,900 in Q3 2024, indicating a growth of 16.3% [28] Expenses and Liabilities - Total operating expense for Q3 2025 was $48.4 million, a decrease of 1.4% from $49.1 million in the prior-year period, reflecting ongoing cost management efforts [5] - Total liabilities decreased to $109,834,000 from $122,325,000, reflecting a reduction of approximately 10.1% [24] - The adjusted operating expenses for the nine months ended September 30, 2025, were $128,310 million, down from $138,037 million in 2024, indicating a decrease of 7.3% [31] Other Financial Metrics - Total gross margin for Q3 2025 was 44.7%, down from 46.5% in the prior-year period, primarily due to increased business-to-business sales [5] - The diluted EPS for the three months ended September 30, 2025, was $(0.20), an improvement from $(0.25) in 2024, reflecting a 20% reduction in losses per share [31] - Non-GAAP adjusted net loss for the three months ended September 30, 2025, was $(462) million, compared to $(2,605) million in 2024, showing a significant reduction of 82.3% [31] Legal and Settlement Expenses - The company incurred $1,784 million in legal and settlement expenses for the nine months ended September 30, 2025, consistent with the same amount in 2024 [31] - The company reported acquisition-related expenses of $127 million for the three months ended September 30, 2024, with no such expenses reported in 2025 [31] - The change in fair value of earnout liability for the nine months ended September 30, 2024, was $1,830 million, with no such adjustments reported in 2025 [31] Stock-Based Compensation and Amortization - Stock-based compensation for the nine months ended September 30, 2025, was $6,203 million, compared to $5,704 million in 2024, representing an 8.7% increase [31] - Amortization of intangibles for the three months ended September 30, 2025, was $1,285 million, up from $1,107 million in 2024, reflecting a 15.9% increase [31]

Revenue Performance - Revenue for Q3 2025 decreased by 4.0% to $533 million, down from $555 million in Q3 2024[3] - Revenue for the nine months ended September 30, 2025, was $1,609 million, down from $1,652 million in 2024, reflecting a decrease of approximately 2.6%[28] - Total revenue for the three months ended September 30, 2025, was $533 million, a decrease of 4% compared to $555 million in the same period of 2024[37] - Recurring revenue for the nine months ended September 30, 2025, was $1,501 million, down from $1,518 million in 2024, reflecting a decline of 1%[37] Profitability Metrics - Gross profit increased to $178 million with a gross profit margin of 33.4%, compared to $174 million and 31.4% in the prior year[4] - Adjusted EBITDA improved to $138 million, up from $118 million in the previous year[4] - Adjusted EBITDA from continuing operations for the nine months ended September 30, 2025, was $383 million, up from $339 million in 2024, reflecting an increase of approximately 12.9%[28] - Adjusted EBITDA from continuing operations for the three months ended September 30, 2025, increased to $138 million, up from $118 million in 2024, representing a growth of 17%[37] - Adjusted gross profit for the three months ended September 30, 2025, was $206 million, an increase from $200 million in 2024, marking a growth of 3%[35] - Adjusted gross profit margin for the nine months ended September 30, 2025, was 38.0%, up from 36.6% in 2024[37] Net Income and Loss - Net loss for Q3 2025 was $1,055 million, significantly higher than a net loss of $44 million in Q3 2024, primarily due to a non-cash goodwill impairment charge of $1,338 million[4] - Net income from continuing operations for the nine months ended September 30, 2025, was a loss of $2,145 million, compared to a loss of $169 million for the same period in 2024[27] - Goodwill impairment charges for the nine months ended September 30, 2025, amounted to $2,321 million, significantly impacting net income[29] Cash Flow and Liquidity - Cash and cash equivalents as of September 30, 2025, were $205 million, with total debt at $2,010 million[9] - Cash provided by operating activities for the nine months ended September 30, 2025, was $236 million, compared to $134 million in 2024, indicating a year-over-year increase of approximately 76.1%[27] - Free cash flow from continuing operations for the nine months ended September 30, 2025, was $151 million, compared to a negative $20 million in 2024[36] - Cash, cash equivalents, and restricted cash from continuing operations at the end of the period was $432 million, down from $562 million at the end of the same period in 2024[27] Shareholder Actions - The company repurchased $25 million of common stock under its existing share repurchase program[4] Future Guidance - Future revenue guidance for 2025 is projected between $2,252 million and $2,282 million[13] - Adjusted diluted earnings per share for 2025 is expected to be between $0.54 and $0.58[13] Asset and Liability Management - Total assets decreased from $8,193 million as of December 31, 2024, to $5,538 million as of September 30, 2025, representing a decline of approximately 32.3%[25] - Total liabilities decreased from $3,880 million as of December 31, 2024, to $3,534 million as of September 30, 2025, a reduction of about 8.9%[25] Client Acquisition - New client wins include MetLife, Cintas, and Mass General Brigham[4] Capital Expenditures - Capital expenditures for the nine months ended September 30, 2025, were $85 million, a decrease from $95 million in 2024[36] BPaaS Revenue - BPaaS revenue for the three months ended September 30, 2025, was $123 million, slightly up from $121 million in 2024[37]

Exhibit 99.1 Payoneer Reports Third Quarter 2025 Financial Results Record quarterly revenue demonstrates strength and resilience of diverse business model Increasing 2025 Guidance NEW YORK – November 5, 2025 – Payoneer Global Inc. ("Payoneer" or the "Company") (NASDAQ: PAYO), the global financial technology company powering business growth across borders, today reported financial results for its third quarter ended September 30, 2025. | | | | | | | YoY | | --- | --- | --- | --- | --- | --- | --- | | ($ in m ...