Financial Performance - Seres reported a net income of $8.2 million for Q3 2025, compared to a net loss of $51.0 million in Q3 2024, primarily due to a $27.2 million gain from the sale of VOWST[11] - Total revenue for the three months ended September 30, 2025, was $351,000, compared to $0 for the same period in 2024, indicating a significant increase[19] - The company reported a net income from continuing operations of $8,204,000 for the three months ended September 30, 2025, compared to a net loss of $51,035,000 in the same period of 2024[19] - The gain on the sale of the VOWST Business was $27,222,000 for the three months ended September 30, 2025, contributing significantly to the overall financial performance[19] - The company reported a net income per share attributable to common stockholders of $0.94 for the three months ended September 30, 2025, compared to a loss of $6.69 per share in the same period of 2024[19] Expenses - Research and development (R&D) expenses decreased to $12.6 million in Q3 2025 from $16.5 million in Q3 2024, driven by reduced personnel and clinical expenses[11] - General and administrative (G&A) expenses fell to $9.5 million in Q3 2025, down from $12.7 million in Q3 2024, reflecting lower personnel and IT-related costs[11] - Research and development expenses for the three months ended September 30, 2025, were $12,616,000, down 23% from $16,460,000 in the same period of 2024[19] - General and administrative expenses decreased to $9,476,000 for the three months ended September 30, 2025, from $12,710,000 in the same period of 2024, representing a 25% reduction[19] Cash and Assets - As of September 30, 2025, Seres had $47.6 million in cash and cash equivalents, expecting to fund operations through Q2 2026[9] - Total current assets increased to $51,527,000 as of September 30, 2025, from $38,674,000 as of December 31, 2024, reflecting a growth of 33%[18] - Total liabilities decreased to $99,776,000 as of September 30, 2025, down from $126,026,000 as of December 31, 2024, indicating a reduction of approximately 21%[18] - Stockholders' equity increased significantly to $43,697,000 as of September 30, 2025, compared to $13,784,000 as of December 31, 2024, marking a growth of over 217%[18] Clinical Development - The SER-155 Phase 2 study is expected to enroll approximately 248 participants, with interim clinical results anticipated within 12 months of study initiation[6] - SER-155 demonstrated a 77% relative risk reduction in bacterial bloodstream infections (BSIs) in a Phase 1b study[13] - The company received a grant of up to $3.6 million from CARB-X to support the development of an oral liquid formulation of SER-155[6] - An ongoing investigator-sponsored study on SER-155 in immune checkpoint related enterocolitis is expected to provide initial results in early 2026[5] - SER-155 has received Breakthrough Therapy designation for the reduction of bloodstream infections in adults undergoing allogeneic hematopoietic stem cell transplantation[14] Cost Management - Cost-reduction measures implemented during Q3 2025 included workforce reductions, aimed at extending the company's cash runway[3] - Weighted average common shares outstanding increased to 8,758,692 for the three months ended September 30, 2025, compared to 7,632,242 for the same period in 2024, reflecting a growth in shareholder base[19]

Revenue Performance - Total revenues for the third quarter of 2025 were $216.166 million, an increase of 10.9% compared to $195.034 million in the same quarter of 2024[15] - Franchise revenues decreased to $161.346 million in Q3 2025 from $166.354 million in Q3 2024, representing a decline of 3.0%[15] - Total revenues for the nine months ended September 30, 2025, were $661.7 million, with revenues excluding advertising revenue at $449.5 million[123] - Total franchise revenues for the nine months ended September 30, 2025, were $502.3 million, compared to $518.7 million for the same period in 2024, reflecting a decline of 3.2%[37] - Total franchise revenues for the three months ended September 30, 2025, were $161.3 million, a decrease of 3.1% from $166.4 million in Q3 2024[37] Profitability - Net income for the third quarter of 2025 was $7.326 million, down from $19.061 million in Q3 2024, a decrease of 61.6%[15] - Basic earnings per share for Q3 2025 were $0.48, down from $1.24 in Q3 2024, a decrease of 61.3%[15] - The company reported a net income before income taxes of $10.1 million for the three months ended September 30, 2025[121] - Net income for the nine months ended September 30, 2024, was $59,716 thousand, compared to $29,337 thousand for the same period in 2025, indicating a decrease of 50%[21] Gross Profit and Expenses - The company reported a gross profit of $84.553 million for Q3 2025, compared to $93.319 million in Q3 2024, reflecting a decline of 9.4%[15] - The company incurred depreciation and amortization expenses of $31,378 thousand for the nine months ended September 30, 2025, compared to $29,049 thousand in 2024, indicating an increase of approximately 8.0%[21] - The total operating lease income for the nine months ended September 30, 2025, was $79.7 million, down from $85.2 million in the same period of 2024[53] - Stock-based compensation expense for the nine months ended September 30, 2025, was $9,733 thousand, down from $12,572 thousand in the same period of 2024, a decrease of about 22.9%[21] Assets and Liabilities - The company’s total assets were $1.773 billion as of September 30, 2025, slightly down from $1.791 billion at the end of 2024[11] - Total current liabilities decreased to $340.110 million as of September 30, 2025, from $445.305 million at the end of 2024, a reduction of 23.6%[11] - The company’s long-term debt increased to $1.187 billion as of September 30, 2025, compared to $1.087 billion at the end of 2024, an increase of 9.2%[11] - The company reported a total stockholders' deficit of $231.918 million as of September 30, 2025, compared to $216.019 million at the end of 2024[11] Cash Flow and Investments - Total cash flows provided by operating activities for the nine months ended September 30, 2025, were $83,302 thousand, an increase from $77,694 thousand in 2024, representing a growth of about 7.3%[21] - The company’s cash flows used in investing activities for the nine months ended September 30, 2024, were $(661) thousand, while in 2025, they increased to $(15,827) thousand, indicating a significant increase in investment outflows[21] - Cash, cash equivalents, and restricted cash at the end of the period on September 30, 2025, totaled $251,113 thousand, compared to $235,110 thousand at the end of September 30, 2024[21] Shareholder Activities - The company repurchased 989,662 shares of common stock at a cost of $22,503 thousand during the three months ended September 30, 2025[17] - For the nine months ended September 30, 2025, the Company paid dividends of $23.6 million, maintaining a dividend of $0.51 per share for both 2025 and 2024[89] - During the nine months ended September 30, 2025, the Company repurchased 1,299,440 shares of common stock at a cost of $30.1 million, with a remaining amount of $103.1 million available for repurchase under the 2022 Repurchase Program[93] Debt and Financing - The Company issued $600 million of Series 2025-1 6.720% Fixed Rate Senior Secured Notes on April 17, 2023, as part of a refinancing transaction[56] - The Company completed a refinancing transaction and issued $600 million of Series 2025-1 6.720% Fixed Rate Senior Secured Notes, Class A-2[58] - The Company incurred costs of approximately $4.1 million in connection with the issuance of the Credit Facility, which are being amortized over the term of the new arrangement[80] - The Company incurred approximately $8.0 million in costs related to the issuance of the 2023 Class A-2 Notes, with unamortized debt issuance costs of $5.3 million reported as of September 30, 2025[82] Franchise Operations - The Company has 477 IHOP franchisee-operated restaurants and leases from third parties for these properties, indicating ongoing market expansion efforts[48] - The Franchise Segment reported revenues of $161.3 million for the three months ended September 30, 2025, with revenues excluding advertising revenue at $93.1 million[121] - The balance of deferred franchise revenue as of September 30, 2025, was $39.6 million, with $1.5 million expected to be recognized in the remaining three months of 2025[37] Legal and Compliance - The Company does not expect any material adverse impact from ongoing legal proceedings, although there are various lawsuits and claims pending[135] - The company does not have a material amount of financial assets or liabilities that are required to be measured at fair value on a recurring basis[133]

Financial Performance - Revenues for Q3 2025 increased by $76.5 million to $1,335.0 million, a 6% rise compared to Q3 2024, driven by organic growth in North America, Europe, Latin America, and Rest of World [170]. - Operating profit for Q3 2025 rose by $40.8 million to $152.4 million, resulting in an operating profit margin increase from 8.9% to 11.4% [174]. - Non-GAAP operating profit for Q3 2025 increased by $36.6 million to $188.2 million, with a non-GAAP operating profit margin of 14.1%, up from 12.0% [182]. - Income from continuing operations attributable to Brink's shareholders for Q3 2025 increased by $7.3 million to $36.2 million, with diluted EPS rising to $0.86 from $0.65 [174]. - Revenues for the first nine months of 2025 increased by $134.5 million to $3,882.2 million, a 4% rise compared to the same period in 2024, with significant contributions from Latin America and North America [176]. - Non-GAAP income from continuing operations for the first nine months of 2025 increased by $6.6 million to $234.4 million, with non-GAAP diluted EPS rising to $5.49 from $5.06 [184]. - Adjusted EBITDA for Q3 2025 increased by 17% to $253.3 million, primarily due to the increase in non-GAAP operating profit [183]. - The company experienced a 5% organic revenue growth in Q3 2025, attributed to inflation-based price increases and growth in AMS and DRS revenue [172]. - Revenues for Q3 2025 increased by 6% to $1,335.0 million, driven by a 5% organic growth and contributions from acquisitions [188]. - For the nine months ended September 30, 2025, total revenues increased by 4% to $3,882.2 million, with a 5% organic growth [199]. Regional Performance - North America segment revenues rose by 5% to $434.8 million, with operating profit increasing by 37% to $56.8 million [192]. - Latin America revenues grew by 2% to $326.8 million, but operating profit decreased by 6% to $65.9 million due to unfavorable currency impacts [194]. - Europe segment revenues increased by 12% to $353.1 million, with operating profit up 15% to $46.2 million, primarily driven by currency effects and organic growth [196]. - Rest of World revenues rose by 5% to $220.3 million, with operating profit increasing by 9% to $47.8 million, supported by organic growth in BGS revenue [198]. - North America revenues for the nine months increased by 5% to $1,286.7 million, with operating profit rising by 22% to $172.2 million [202]. - Latin America revenues decreased by 3% to $953.8 million, with operating profit down 11% to $174.8 million, primarily due to currency exchange rate impacts [204]. - Europe revenues for the nine months increased by 8% to $990.0 million, with operating profit up 13% to $110.9 million [206]. Expenses and Costs - Selling, general and administrative expenses decreased by 2% to $199.0 million in Q3 2025, mainly due to lower consulting fees and transformation initiative costs [173]. - Corporate expenses for Q3 2025 decreased by 35% to $28.5 million, driven by lower insurance and security losses [212]. - Total other items not allocated to segments decreased by 11% to $(35.8) million in Q3 2025 from $(40.0) million in Q3 2024 [215]. - Acquisitions and dispositions costs increased by 8% to $(17.8) million in Q3 2025 compared to $(16.5) million in Q3 2024 [215]. - Transformation initiatives incurred expenses of $18.6 million in the first nine months of 2025, down 13% from $21.5 million in the same period of 2024 [220]. - DOJ/FinCEN investigations accrued costs of $5.5 million in the first nine months of 2025, a 29% decrease from $7.7 million in the same period of 2024 [221]. Taxation - The provision for income taxes for the three months ended September 30, 2025, was $53.0 million, compared to $27.2 million in 2024, reflecting an increase of 95% [237]. - The effective tax rate for the nine months ended September 30, 2025, was 40.8%, up from 36.0% in 2024 [237]. - Non-GAAP pre-tax income for the nine months ended September 30, 2025, was $335.3 million, with an effective income tax rate of 27.7% [251]. - The valuation allowance on tax credits increased due to the One Big Beautiful Bill Act, resulting in a tax expense of $18.7 million [249]. - The company recorded a significant income tax expense of $95.8 million for the nine months ended September 30, 2025, compared to $75.5 million in 2024 [251]. - The effective tax rate may fluctuate due to various factors, including changes in pre-tax earnings and legislative changes [238]. Cash Flow and Capital Expenditures - Cash flows from operating activities rose by $209.7 million in the first nine months of 2025 compared to the same period in 2024, totaling $265.9 million [260]. - Free cash flow before dividends increased by $76.3 million in the first nine months of 2025, reaching $174.3 million [262]. - Capital expenditures decreased slightly to $155.4 million in the first nine months of 2025 from $159.9 million in 2024 [264]. - Cash used for investing activities increased by $18.2 million in the first nine months of 2025, totaling $199.6 million [264]. - Total property and equipment acquired was $203.3 million, slightly down by 0.8% from $204.1 million in the prior year [266]. - Depreciation and amortization for the first nine months of 2025 was $208.7 million, down 11.6% from $220.3 million in 2024 [266]. Debt and Shareholder Returns - Total debt as of September 30, 2025, was $3,991.0 million, an increase from $3,896.2 million at the end of 2024 [273]. - Net debt increased to $2,750.7 million as of September 30, 2025, compared to $2,582.2 million at the end of 2024 [273]. - The company authorized a $500 million share repurchase program, which is set to expire on December 31, 2025 [279]. - During the nine months ended September 30, 2025, the company repurchased 1,724,309 shares for $153.6 million at an average price of $89.05 per share [281]. - The company paid dividends of $0.7525 per share, totaling $31.7 million in the first nine months of 2025, compared to $31.3 million in 2024 [272].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q _____________________ (Mark One) x 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: 001-39634 ______________________ Foghorn Therapeutics ...

Financial Performance - Total revenues for Q3 2025 were $375.5 million, representing a year-over-year increase of 12.0%[2] - Subscription revenues reached $344.3 million, up 13.5% year-over-year, accounting for 92% of total revenues[2][5] - Annualized Recurring Revenues (ARR) grew to $1,405.2 million, reflecting a constant currency growth rate of 10.5% compared to the previous year[2] - Total revenues for the three months ended September 30, 2025, increased to $375.5 million, up 12% from $335.2 million in the same period of 2024[18] - Subscription revenues rose to $344.3 million, representing a 14% increase compared to $303.2 million in the prior year[18] - Gross profit for the nine months ended September 30, 2025, was $903.6 million, a 11% increase from $813.4 million in 2024[18] - Operating income for the three months ended September 30, 2025, was $84.5 million, up 23% from $68.6 million in the same quarter of 2024[22] - Net income attributable to Bentley Systems for the nine months ended September 30, 2025, was $219.2 million, a 19% increase from $184.7 million in 2024[18] - Cash flows from operating activities for the nine months ended September 30, 2025, totaled $396.9 million, compared to $353.7 million in the same period of 2024[20] - The company reported a basic net income per share of $0.18 for the three months ended September 30, 2025, compared to $0.13 in the same period of 2024[22] Cash Flow and Expenses - Cash flows from operations were $116.4 million, up from $86.1 million year-over-year[2] - Free cash flow for the quarter was $110.7 million, compared to $84.3 million in the same period last year[2] - Cash flows from operations for the three months ended September 30, 2025, were $116,376 million, compared to $86,105 million for the same period in 2024, representing a year-over-year increase of 35%[24] - Free cash flow for the nine months ended September 30, 2025, was $384,040 million, up from $345,161 million in 2024, indicating a growth of 11.3%[24] - Cash interest expenses for the three months ended September 30, 2025, were $2,520 million, down from $3,424 million in 2024, showing a reduction of 26.4%[24] - Cash taxes for the nine months ended September 30, 2025, totaled $34,027 million, slightly up from $33,023 million in 2024, indicating a year-over-year increase of 3%[24] - The company reported cash acquisition expenses of $9,354 million for the nine months ended September 30, 2025, compared to $5,571 million in 2024, representing a 67.5% increase[24] - Changes in operating assets and liabilities for the nine months ended September 30, 2025, resulted in a negative impact of $37,039 million, compared to a negative impact of $44,718 million in 2024, showing an improvement[24] Profitability Metrics - Operating income margin improved to 22.5%, up from 20.5% in the same period last year[2] - Net income per diluted share increased to $0.18, compared to $0.13 for the same period last year[2] - Adjusted operating income for the nine months ended September 30, 2025, was $390.0 million, compared to $354.3 million in the same period of 2024[22] - Adjusted EBITDA for the three months ended September 30, 2025, reached $129,722 million, compared to $110,001 million in 2024, reflecting a 17.9% increase[24] Research and Development - Research and development expenses for the three months ended September 30, 2025, increased to $78.8 million, up from $70.1 million in 2024[18] Strategic Initiatives - New AI capabilities were unveiled during the quarter, enhancing the company's portfolio and addressing the engineering capacity gap[4][5] - The company is positioned for potential acquisitions and stock repurchases to support long-term growth[5] Cash and Liquidity - The company had cash and cash equivalents of $165.4 million at the end of the period, significantly up from $72.2 million at the end of September 2024[20]

Financial Performance - Total revenue increased by 3.1% to $1,377 million in Q3 2025[11] - GAAP net loss was $(112) million, or $(0.44) per diluted common share[11] - Adjusted EBITDA rose by 2.4% to $341 million, with an adjusted EBITDA margin decrease of 10 basis points to 24.8%[11] - AFFO increased by 6.3% to $221 million, while AFFO per share decreased by 5.6% to $0.85[11] - Net revenues for the three months ended September 30, 2025, were $1,377 million, a 3.1% increase from $1,335 million in the same period of 2024[23] - Net loss attributable to Lineage, Inc. for the three months ended September 30, 2025, was $100 million, compared to a net loss of $485 million in the same period of 2024[23] - Basic earnings per share for the three months ended September 30, 2025, were $(0.44), an improvement from $(2.44) in the prior year[23] - Comprehensive income attributable to Lineage, Inc. for the three months ended September 30, 2025, was $(136) million, compared to $(424) million in the same period of 2024[24] - The company reported a total operating income of $35 million for the three months ended September 30, 2025, compared to an operating loss of $515 million in the same period of 2024[23] - The net income (loss) before income taxes for the three months ended September 30, 2025, was $(101) million, an improvement from $(588) million in the same period of 2024[23] - The net income (loss) for the quarter ending September 30, 2025, is reported as a loss of $112 million[26] - For the nine months ended September 30, 2025, the company reported a net income loss of $119 million, an improvement from a loss of $671 million in the same period of 2024[28] Guidance and Outlook - Full-year 2025 adjusted EBITDA guidance revised to $1.290 to $1.305 billion, down from $1.290 to $1.340 billion[7] - Fourth quarter 2025 adjusted EBITDA expected to be between $319 to $334 million[7] - Occupancy is expected to continue increasing into Q4, but NOI outlook is lowered due to tariff uncertainty and lower US occupancy[5] Assets and Liabilities - Total assets as of September 30, 2025, were $19,197 million, compared to $18,661 million as of December 31, 2024[20] - Long-term debt increased to $5,925 million as of September 30, 2025, up from $4,906 million at the end of 2024[20] - As of September 30, 2025, the total equity balance is $9,378 million, with redeemable noncontrolling interests at $7 million[26] Operating Expenses - Total operating expenses decreased to $1,342 million for the three months ended September 30, 2025, down from $1,850 million in the prior year, reflecting a 27.4% reduction[23] - The cost of operations for the three months ended September 30, 2025, was $932 million, up from $897 million in the same period of 2024, indicating a 3.9% increase[23] - The company incurred acquisition, transaction, and other expenses of $12 million for the three months ended September 30, 2025, significantly lower than $592 million in the same period of 2024[23] Cash Flow and Investments - The company experienced a net cash provided by operating activities of $627 million for the nine months ended September 30, 2025, compared to $446 million in 2024[28] - The company reported a net cash used in investing activities of $899 million for the nine months ended September 30, 2025, compared to $536 million in 2024[28] Segment Performance - Total global warehousing segment revenues for the three months ended September 30, 2025, increased by 4.2% to $1,013 million, compared to $972 million in 2024[30] - The global warehousing segment's net operating income (NOI) for the three months ended September 30, 2025, was $384 million, a slight increase of 0.3% from $383 million in 2024[30] - The total global warehousing segment cost of operations for the three months ended September 30, 2025, rose by 6.8% to $629 million, up from $589 million in 2024[30] - The economic occupancy percentage for the global warehousing segment decreased to 80.3% in Q3 2025, down from 82.0% in Q3 2024, representing a decline of 170 basis points[30] - For the nine months ended September 30, 2025, total global warehousing segment revenues were $2,927 million, a marginal increase of 0.7% from $2,907 million in 2024[34] - The global warehousing segment's NOI for the nine months ended September 30, 2025, was $1,111 million, down 3.6% from $1,152 million in 2024[34] - The average economic occupancy for the nine months ended September 30, 2025, was 80.1%, a decrease of 270 basis points from 82.8% in 2024[34] Non-GAAP Measures - The company utilizes non-GAAP financial measures such as segment NOI, FFO, Core FFO, Adjusted FFO, EBITDA, and Adjusted EBITDA to evaluate performance and assist investors in understanding core operations[60] - Total segment NOI is calculated as total revenues minus operational costs, excluding depreciation and amortization, which helps assess segment performance[61] - EBITDAre is defined as earnings before interest, taxes, depreciation, and amortization, providing a measure of operating results unaffected by capital structure differences[62] - Adjusted EBITDA further excludes non-operating income and expenses, providing a clearer view of core business operations[63] - Funds from operations (FFO) is calculated by excluding extraordinary items and gains or losses from sales of real estate, facilitating performance comparisons[65] - Core FFO adjusts FFO for non-real estate items, offering a more stable measure of operating performance[66] - Adjusted FFO includes adjustments for deferred financing costs and maintenance capital expenditures, aiding in assessing capital investment capabilities[69] - The company emphasizes that FFO, Core FFO, and Adjusted FFO should be evaluated alongside GAAP net income for a comprehensive performance assessment[70] - Forward-looking guidance for certain financial data is not provided due to the unpredictable nature of reconciling items, which could significantly impact results[71]

Financial Performance - The net loss for the third quarter of 2025 was $47.7 million, or $0.61 per share, compared to a net loss of $15.5 million, or $0.24 per share, for the same period in 2024[7]. - The net loss for the first nine months of 2025 was $103.2 million, or $1.50 per share, compared to a net loss of $51.8 million, or $0.86 per share, for the same period in 2024[10]. - The net loss for the three months ended September 30, 2025, was $47,712 thousand, compared to a net loss of $15,499 thousand for the same period in 2024, indicating a year-over-year increase in losses of approximately 208%[20]. - The net loss per share, basic and diluted, for the three months ended September 30, 2025, was $0.61, compared to $0.24 for the same period in 2024, representing an increase of approximately 154%[20]. - The total comprehensive loss for the three months ended September 30, 2025, was $47,637 thousand, compared to $14,991 thousand for the same period in 2024, indicating an increase of approximately 217%[20]. Research and Development - Research and development expenses for the third quarter of 2025 were $44.9 million, up from $13.9 million in the third quarter of 2024, primarily due to a $25.8 million increase in nomlabofusp manufacturing costs[8]. - Research and development expenses for the three months ended September 30, 2025, were $44,931 thousand, significantly up from $13,919 thousand in the same period of 2024, representing an increase of about 222%[20]. - A median improvement of 2.25 in the modified Friedreich Ataxia Rating Scale (mFARS) score was observed after 1 year, compared to a worsening of 1.00 in a FACOMS reference population[5]. - In the open label study, 100% of participants (n=10) achieved skin FXN levels similar to asymptomatic carriers after 6 months of daily nomlabofusp administration[5]. - Seven out of 39 participants in the open label study experienced anaphylaxis in the first 6 weeks of dosing, but returned to their usual state of health after standard treatment[4]. - The company is implementing a modified starting dose regimen to mitigate the risk of anaphylactic reactions, which includes a 5 mg test dose followed by a 25 mg dose[5]. - The company plans to submit a Biologics License Application (BLA) seeking accelerated approval for nomlabofusp in the second quarter of 2026[4]. Assets and Liabilities - As of September 30, 2025, Larimar Therapeutics had cash, cash equivalents, and marketable securities totaling $175.4 million, with a projected cash runway into the fourth quarter of 2026[6]. - Total current assets decreased from $195,304 thousand as of December 31, 2024, to $183,223 thousand as of September 30, 2025, a decline of approximately 6%[18]. - Total liabilities increased from $28,413 thousand as of December 31, 2024, to $48,312 thousand as of September 30, 2025, reflecting a rise of about 70%[18]. - The total stockholders' equity decreased from $171,812 thousand as of December 31, 2024, to $139,038 thousand as of September 30, 2025, a decline of about 19%[18]. Operating Expenses - General and administrative expenses for the third quarter of 2025 were $4.6 million, compared to $4.3 million in the third quarter of 2024[9]. - Total operating expenses for the nine months ended September 30, 2025, were $108,479 thousand, compared to $59,597 thousand for the same period in 2024, an increase of about 82%[20]. - Other comprehensive loss for the three months ended September 30, 2025, included an unrealized gain on marketable securities of $75 thousand, compared to a gain of $508 thousand in the same period of 2024[20]. Shareholder Information - The weighted average common shares outstanding for the three months ended September 30, 2025, were 78,324,767, up from 63,806,158 in the same period of 2024, an increase of approximately 22%[20].

Revenue Performance - Trimble reported record annualized recurring revenue of $2.31 billion, up 6% year-over-year and 14% on an organic basis[9] - Total revenue for Q3 2025 was $901.2 million, representing a 3% increase year-over-year and a 10% increase on an organic basis[9] - Trimble raised its full-year 2025 revenue guidance to between $3,545 million and $3,585 million[4] - For Q4 2025, Trimble expects revenue between $927 million and $967 million, with GAAP earnings per share of $0.59 to $0.67[5] - Segment revenue for AECO in Q3 2025 was $358.5 million, up from $306.0 million in Q3 2024, representing a 17.1% increase[19] Profitability Metrics - GAAP net income for Q3 2025 was $111.5 million, with diluted earnings per share of $0.46[9] - The gross margin for Q3 2025 was 68.9%, compared to 65.7% in Q3 2024[9] - Trimble's GAAP operating income for Q3 2025 was $150.5 million, representing 16.7% of revenue[9] - Non-GAAP operating income for the first three quarters of 2025 was $675.0 million, compared to $653.6 million in 2024, reflecting a 3.4% increase[21] - Non-GAAP gross margin for the first three quarters of 2025 was 70.4%, compared to 66.9% in 2024[21] - GAAP net income for the year was $1,414.2 million, with a non-GAAP net income of $482.9 million[22] - GAAP diluted net income per share was $5.73, while non-GAAP diluted net income per share was $1.96[22] - Adjusted EBITDA for the year reached $702.3 million, representing a 26.0% margin[22] - Non-GAAP operating income for the year was $653.6 million, with a margin of 24.2%[22] - The company reported a GAAP operating income of $287.2 million, reflecting a 10.6% margin[22] Cash Flow and Financing - Operating cash flow decreased to $225.9 million in 2025 from $416.3 million in 2024[17] - The company reported a net cash used in financing activities of $729.3 million in 2025, compared to $1,463.7 million in 2024[17] - The company experienced a net decrease in cash and cash equivalents of $515.1 million in 2025, compared to an increase of $815.1 million in 2024[17] - Free cash flow for the year was $388.8 million, down from $206.2 million in the previous year[22] - Capital expenditures for the year totaled $27.5 million, compared to $19.7 million in the previous year[22] Balance Sheet Highlights - Trimble's total assets as of Q3 2025 were $9,019.6 million, down from $9,488.3 million at year-end 2024[15] - Current liabilities decreased to $1,253.6 million in Q3 2025 from $1,788.0 million at year-end 2024[15] Shareholder Actions - The company repurchased $50 million worth of shares in Q3 2025, totaling $727.4 million year-to-date[9] Future Projections - Forecasted GAAP diluted net income per share for Q4 2025 is projected to be between $0.59 and $0.67[22] - Forecasted non-GAAP diluted net income per share for Q4 2025 is expected to be between $0.91 and $0.99[22] Operational Insights - Operating income for the Field Systems segment in Q3 2025 was $136.7 million, a decrease from $123.7 million in Q3 2024[19] - The company emphasizes the importance of non-GAAP measures for understanding core operating performance and trends[24] - Cash paid for income taxes, excluding tax for the Ag divestiture, was $114.8 million in 2025, up from $81.6 million in 2024[17]

The New York Times Company Reports Third-Quarter 2025 Results NEW YORK, November 5, 2025 – The New York Times Company (NYSE: NYT) announced today third- quarter 2025 results. Key Highlights Meredith Kopit Levien, president and chief executive officer, The New York Times Company, said, "Q3 was another great quarter across the board at The Times and our results demonstrate that our strategy is working as designed. We saw strong revenue growth and we are generating significant free cash flow. We are confident ...

News Release FIS Reports Strong Third Quarter 2025 Results and Raises Full-Year Outlook JACKSONVILLE, Fla., November 5, 2025 - FIS (NYSE:FIS), a global leader in financial technology, today reported its third quarter 2025 results. ® "We delivered strong results this quarter with disciplined execution driving outperformance against all of our financial commitments," said FIS CEO and President Stephanie Ferris. "Our differentiated positioning within a favorable market environment is translating into strong sa ...