Financial Performance - Q2'26 total revenue increased to $19.9 million, up from $19.4 million in Q2'25, reflecting a growth of approximately 2.6% year-over-year[4] - Net loss narrowed to $(0.6) million in Q2'26 from $(3.6) million in Q2'25, representing an improvement of $3.0 million[4] - Adjusted EBITDA for Q2'26 was $0.5 million, marking the fourth consecutive quarter of positive adjusted EBITDA, compared to a loss of $(1.4) million in Q2'25[5] - Net loss for the six months ended September 30, 2025, was $1,825,000, a decrease from a net loss of $7,383,000 in the same period of 2024, indicating improved financial performance[33] - The company reported a basic net loss per share of $0.17 for the three months ended September 30, 2025, compared to $1.10 for the same period in 2024[29] - Net income for the three months ended September 30, 2025, was a loss of $581 million, compared to a loss of $3,625 million for the same period in 2024[35] Revenue Breakdown - Maintenance revenue grew by 18% to $4.5 million in Q2'26, up from $3.8 million in Q2'25, due to new customer contracts and expanded relationships[2] - EV charging revenue was $4.8 million in Q2'26, relatively flat compared to Q2'25, with expectations for slight declines in FY'26 due to market uncertainties[20] - Orion reiterated its FY 2026 revenue growth outlook of approximately 5%, targeting $84 million, which is expected to lead to positive adjusted EBITDA for the full fiscal year[5] - Significant new business wins included $11 million in public sector lighting and $7 million in LED lighting for major automotive industry facilities[7] Cost Management - Gross profit margin improved by 790 basis points to 31.0% in Q2'26 compared to 23.1% in Q2'25, driven by product mix and cost improvements[4] - Orion's operating expenses decreased to $6.4 million in Q2'26 from $7.7 million in Q2'25, reflecting ongoing cost containment efforts[18] - Operating expenses for the six months ended September 30, 2025, were $13,333,000, down from $15,475,000 in the same period of 2024, reflecting cost management efforts[29] - The company continues to face pressures to reduce selling prices of its lighting products due to increased competition, which may negatively impact gross margins[29] Assets and Liabilities - Cash and cash equivalents decreased to $5,155,000 as of September 30, 2025, down from $5,972,000 at the end of March 2025[32] - Total assets decreased to $47,902,000 as of September 30, 2025, compared to $52,463,000 as of March 31, 2025[32] - Total liabilities decreased to $36,520,000 as of September 30, 2025, from $40,579,000 as of March 31, 2025, indicating improved financial stability[32] Operational Changes - The company is currently implementing a new ERP system, which may involve substantial costs and potential operational disruptions[29] - The company is expanding its Voltrek EV Charging field sales and service presence to the Southeastern United States, establishing a new office in Jacksonville, FL[15] Other Financial Metrics - EBITDA for the latest quarter was $269 million, a significant improvement from a negative EBITDA of $2,691 million in the same quarter last year[35] - Adjusted EBITDA increased to $451 million, up from $32 million in the previous year, indicating a strong operational performance[35] - Stock-based compensation expenses were $157 million, slightly down from $180 million in the same quarter of 2024[35] - The company incurred restructuring costs of $0 in the latest quarter, compared to $163 million in the same quarter last year[35] - Severance costs decreased to $25 million from $158 million year-over-year, reflecting improved workforce management[35] - Interest expenses for the quarter were $280 million, compared to $283 million in the same quarter of the previous year[35] - Depreciation expenses were $263 million, an increase from $278 million in the same quarter of 2024[35] - The company reported no deferred cost write-offs for ATM in the latest quarter, while it had $0 in the same quarter last year[35] - Earnout expenses were $0 in the latest quarter, down from $630 million in the same quarter of the previous year, indicating a reduction in contingent liabilities[35]

Revenue and Income - Q3 2025 home closing revenue decreased by 6% to $262.0 million, with 788 home closings, down 3% from the previous year[5]. - Pretax income for Q3 2025 was $17.2 million, down from $39.6 million in Q3 2024, resulting in earnings of $0.24 per diluted share compared to $0.58[5][4]. - Home closing revenue for the three months ended September 30, 2025, was $262,041, a decrease of 6% compared to $277,835 in 2024[22]. - Net income for the three months ended September 30, 2025, was $16,215, down 21,609 from $37,824 in 2024[25]. - Adjusted net income for the nine months ended September 30, 2025, was $40,702, compared to $65,552 in 2024[32]. Orders and Backlog - Net new home orders increased by 15% to 690, with a contract value of $231.8 million, compared to $205.2 million in Q3 2024[5][17]. - The backlog of homes as of September 30, 2025, was valued at $258,732, a decrease of 21% from $332,035 in 2024[23]. - The cancellation rate for new home orders was 11.2%, slightly improved from 11.4% in Q3 2024[17]. Market Presence and Expansion - Active community count rose by 32% to 98 at the end of Q3 2025, indicating growth in market presence[5]. - Total controlled lots increased by 36% to 24,300, reflecting expansion in land acquisition[5][17]. - The total number of controlled lots increased by 36% to 24,300, with optioned lots in the Central region rising by 87%[24]. - Smith Douglas Homes aims to increase market share while maintaining financial discipline as it expands into new markets[4]. Financial Stability - The company's net debt-to-net book capitalization was 8.4% at the end of Q3 2025, demonstrating financial stability[4]. - The net debt-to-net book capitalization ratio as of September 30, 2025, was 8.4%, compared to -5.0% in 2024[29]. - Cash and cash equivalents decreased to $14.8 million from $22.4 million at the end of 2024[13]. Regional Performance - Home closings in the Southeast region decreased by 12% to 493 units, while the Central region saw an increase of 8% to 295 units[22]. - The average selling price (ASP) of homes closed in the Southeast region was $345, a decrease of 2% from $352 in 2024[22]. Capitalization - The company reported a total capitalization of $480,081 as of September 30, 2025, compared to $404,787 in 2024[29].

Exhibit 99.1 Steve Madden Announces Third Quarter 2025 Results ~ Provides Fourth Quarter 2025 Guidance ~ LONG ISLAND CITY, N.Y., November 5, 2025 – Steven Madden, Ltd. (Nasdaq: SHOO), a leading designer and marketer of fashion- forward footwear, accessories and apparel, today announced financial results for the third quarter ended September 30, 2025. Amounts referred to as "Adjusted" are non-GAAP measures that exclude the items defined as "Non-GAAP Adjustments" in the "Non-GAAP Reconciliation" section. Thir ...

Financial Performance - The company reported an accumulated deficit of approximately $405.1 million as of September 30, 2025, compared to $395.4 million as of December 31, 2024[77]. - The company recorded a net loss of $9.8 million for the nine months ended September 30, 2025, compared to a net income of $5.7 million for the same period in 2024[77]. - The company reported a net loss of $9.8 million for the nine months ended September 30, 2025, primarily due to a decrease in accounts payable and other expenses[118]. - Net cash used in operating activities for the nine months ended September 30, 2025, was approximately $9.0 million, compared to $14.4 million for the same period in 2024[117]. Expenses - Research and development expenses decreased to $0.9 million for the three months ended September 30, 2025, down from $1.9 million in the same period of 2024, a decrease of approximately 52.6%[90]. - General and administrative expenses were $1.9 million for the three months ended September 30, 2025, a decrease of approximately 24% from $2.5 million in the same period of 2024[91]. - Investment income decreased to $107 thousand for the three months ended September 30, 2025, down from $314 thousand in the same period of 2024, a decrease of approximately 66%[93]. - Other income was zero for the three months ended September 30, 2025, compared to $26.6 million in the same period of 2024, a decrease of $26.6 million due to prior adjustments related to future royalties[95]. - The company anticipates increased expenses related to ongoing development activities and commercialization efforts for its product candidates[114]. Revenue Generation - The company has not generated any revenue from product sales to date and has no products approved for commercialization[82]. - The company has not generated any revenue from product sales to date and relies on collaborative revenue from the sale of royalty interests[114]. Financing Activities - The company entered into a private placement agreement on October 21, 2025, to issue 80,000 shares of Series A Convertible Preferred Stock for an aggregate offering price of up to $200 million[78]. - The gross proceeds from the private placement are estimated to be approximately $200 million, which will fund the confirmatory Phase 3 trial of roluperidone and support potential commercialization efforts[79]. - The company expects to finance its cash needs through equity offerings, debt financings, and other collaborations, with potential dilution of common stockholder interests[115]. - The company received an upfront payment of $60 million from Royalty Pharma for the sale of its royalty interest in seltorexant, with up to an additional $95 million in potential future milestone payments[113]. - The company has not issued or sold any shares of common stock under its at-the-market equity offering program during the nine months ended September 30, 2025[111]. Regulatory and Compliance - The company is subject to General Instruction I.B.6 of Form S-3, limiting sales of common stock until its public float exceeds $75 million[111]. - The company is classified as a "smaller reporting company," allowing it to take advantage of scaled disclosures under the Securities Exchange Act[125]. Future Expectations - The company expects to incur clinical trial costs and hire additional support staff for the Phase 3 trial of roluperidone, leading to increased clinical and administrative costs[77]. - The company has critical accounting policies related to research and development costs, goodwill, and liabilities from the sale of future royalties[123].

Revenue Performance - Revenue for Q3 2025 was $471 million, representing a 5% increase year-over-year from $447 million in Q3 2024[7] - Create Solutions revenue was $152 million, up 3% year-over-year, driven by strong subscription growth[4] - Grow Solutions revenue reached $318 million, a 6% increase year-over-year, primarily due to the performance of the Unity Ad Network[5] - Revenue for Q3 2025 was $470.6 million, an increase from $446.5 million in Q3 2024, while revenue for the nine months ended September 30, 2025, was $1.35 billion, slightly down from $1.36 billion in the same period of 2024[28] - The company expects Q4 2025 revenue to be between $480 million and $490 million[11] - In Q4, the company anticipates mid-single digit sequential revenue growth in Grow and high-single digit year-over-year growth in Create[14] Profitability Metrics - Adjusted EBITDA for the quarter was $109 million, with a margin of 23%, compared to $92 million and a margin of 21% in Q3 2024[9] - Adjusted EBITDA for Q3 2025 was $109.5 million, representing an adjusted EBITDA margin of 23%, compared to $91.7 million and a margin of 21% in Q3 2024[28] - GAAP net loss for Q3 2025 was $126.8 million, with a net loss margin of 27%, compared to a net loss of $124.5 million and a margin of 28% in Q3 2024[28] - Basic and diluted net loss per share was $0.30, compared to $0.31 for the same period in 2024[6] - Adjusted EPS for Q3 2025 was $0.20, up from $0.19 in Q3 2024, reflecting a 5.3% increase[32] Cash Flow and Operating Activities - Net cash provided by operating activities was $155 million, up from $122 million in Q3 2024[8] - Free cash flow for the quarter was $151 million, compared to $115 million in Q3 2024[9] - Free cash flow for Q3 2025 was $151.3 million, compared to $115.2 million in Q3 2024, representing a 31.3% increase[32] - Net cash provided by operating activities for the nine months ended September 30, 2025, was $301.5 million, up from $203.4 million in the same period of 2024[32] Expenses and Cost Management - GAAP research and development expense for Q3 2025 was $244.4 million, accounting for 52% of revenue, while adjusted research and development expense was $138.7 million, or 30% of revenue[30] - GAAP sales and marketing expense for Q3 2025 was $165.9 million, representing 35% of revenue, while adjusted sales and marketing expense was $100.7 million, or 21% of revenue[30] - GAAP general and administrative expense for Q3 2025 was $65.9 million, accounting for 14% of revenue, while adjusted general and administrative expense was $39.5 million, or 8% of revenue[30] - Stock-based compensation expense for Q3 2025 was $91.6 million, down from $105.3 million in Q3 2024[28] - Amortization of intangible assets expense for Q3 2025 was $125.3 million, compared to $88.5 million in Q3 2024[28] - The company is managing costs effectively to drive improvements in operating margins over time[33] Strategic Initiatives and Future Outlook - Unity expects to enhance its platform and accelerate product innovation, particularly with the upcoming launch of Unity 6.3[33] - The company is focusing on artificial intelligence tools as part of its strategic initiatives[33] - Unity anticipates multi-year growth of its product portfolio, leveraging behavioral data through Unity Runtime[33] - The company reported a total impact on diluted net loss per share from non-GAAP adjustments of $1.42 for the nine months ended September 30, 2025[32] - Unity's weighted-average common shares used in GAAP diluted net loss per share increased to 424.3 million in Q3 2025 from 398.8 million in Q3 2024[32]

EXHIBIT 99.1 Teva's Innovative Portfolio Drives 11th Consecutive Quarter of Growth in Q3 2025; Increases 2025 Outlook for Austedo® and Non-GAAP EPS For an accessible version of this Press Release, please visit www.tevapharm.com Teva reports revenues of $4.5 billion in the third quarter of 2025, an increase of 3% year-over-year (YoY) in U.S. dollars or 1% in local currency (LC). Excluding Japan BV in Q3 2024, revenues increased 5% in U.S. dollars or 3% in LC. United States segment increased by 12%; Europe se ...

Financial Performance - Total net sales increased by 10.8% to $17.1 billion in Q1 fiscal 2026, driven by recent acquisitions and case volume growth[7] - Adjusted EBITDA rose 16.6% to $480.1 million in Q1 fiscal 2026, reflecting strong operational performance[11] - Gross profit improved by 14.3% to $2.0 billion, supported by acquisitions and pricing improvements[8] - Operating profit increased to $224.7 million from $215.3 million, indicating a growth of 6.5% year-over-year[30] - Net income decreased by 13.3% to $93.6 million, primarily due to increased operating expenses[10] - Net income for the three months ended September 27, 2025, was $93.6 million, down from $108.0 million, representing a decrease of 13.3%[30] - Basic earnings per share (EPS) decreased to $0.60 from $0.70, a decline of 14.3%[30] - Diluted earnings per share (GAAP) decreased to $0.60, down 13.0% from $0.69 in the same quarter last year[41] Sales and Revenue Guidance - For Q2 fiscal 2026, the company expects net sales between $16.4 billion and $16.7 billion[21] - Full fiscal year 2026 net sales guidance increased to a range of $67.5 billion to $68.5 billion[22] - Net sales for the three months ended September 27, 2025, were $17,075.9 million, an increase of 10.8% compared to $15,415.5 million for the same period in 2024[30] - Total net sales rose by 10.8% to $17,075.9 million, up from $15,415.5 million year-over-year[47] - Foodservice segment sales increased by 18.8% to $9,146.1 million, while Convenience segment sales grew by 3.5% to $6,586.9 million[47] Expenses and Cash Flow - Operating expenses rose by 15.7% to $1.8 billion, influenced by recent acquisitions and higher personnel costs[9] - The company reported negative free cash flow of $224.1 million in Q1 fiscal 2026, compared to negative free cash flow of $43.0 million in the prior year[13] - Free cash flow (Non-GAAP) was negative at $(224.1) million, compared to $(43.0) million in the prior year[44] - Interest expense increased significantly by 56.3% to $104.4 million from $66.8 million year-over-year[41] Assets and Liabilities - Total assets as of September 27, 2025, were $18,351.8 million, an increase from $17,881.2 million as of June 28, 2025[31] - Total liabilities increased to $13,778.3 million from $13,408.8 million, indicating a rise in financial obligations[31] - Cash and restricted cash at the end of the period was $46.4 million, down from $86.7 million at the beginning of the period[32] Tax and Other Financial Metrics - The effective tax rate for Q1 fiscal 2026 was approximately 23.0%, down from 26.5% in the prior year[10] - Adjusted EBITDA (Non-GAAP) increased by 16.6% to $480.1 million compared to $411.9 million for the three months ended September 28, 2024[41] - Segment Adjusted EBITDA for Foodservice improved by 18.1% to $324.4 million, and for Convenience, it rose by 14.9% to $121.0 million[47] - The company reported a change in LIFO reserve of $24.5 million, a 92.9% increase compared to $12.7 million in the previous year[41] - Corporate & All Other segment reported a loss of $(59.3) million, worsening by 15.8% from $(51.2) million in the prior year[47]

Financial Performance - Total Revenue for Q3 2025 was $144.0 million, a decrease of $14.0 million, or 8.9%, compared to Q3 2024[4] - Total Subscription Revenue for Q3 2025 was $133.0 million, down $13.0 million, or 8.9%, primarily due to a $10.6 million shift in service offering mix and a $7.3 million decrease in volume across all services[5] - HSD Revenue totaled $106.6 million, a decrease of $0.9 million, or 0.8%, compared to Q3 2024[8] - Adjusted EBITDA for Q3 2025 was $68.8 million, a decrease of $8.5 million, or 11.0%, with an Adjusted EBITDA margin of 47.8%[12] - Net Loss for Q3 2025 was $35.7 million, compared to a net loss of $22.4 million for Q3 2024, resulting in a Net Profit Margin of (24.8)%[11] - Total revenue for the three months ended September 30, 2025, was $144.0 million, a decrease of 8.9% compared to $158.0 million for the same period in 2024[22] - Total subscription services revenue for the nine months ended September 30, 2025, was $404.4 million, down 8.4% from $441.5 million in 2024[22] - Net loss for the nine months ended September 30, 2025, was $67.4 million, compared to a net loss of $48.2 million for the same period in 2024[22] - Adjusted EBITDA for the nine months ended September 30, 2025, was not explicitly stated but is a key metric for assessing operational performance[30] - Cash flows from operating activities for the nine months ended September 30, 2025, provided $91.8 million, a decrease from $132.8 million in 2024[23] - Capital expenditures for the nine months ended September 30, 2025, were $139.3 million, down from $164.1 million in 2024[23] - For the three months ended September 30, 2025, the net loss was $35.7 million, compared to a net loss of $22.4 million for the same period in 2024, resulting in a net profit margin of (24.8)%[36] - Adjusted EBITDA for the nine months ended September 30, 2025, was $215.8 million, with an adjusted EBITDA margin of 49.2%, compared to $214.7 million and 44.9% for the same period in 2024[36] Subscriber Metrics - Approximately 464,500 total subscribers as of September 30, 2025, a decrease of 26,000, or 5%, compared to September 30, 2024[13] - The company passed approximately 15,500 new homes and added 2,500 subscribers in Greenfield markets during Q3 2025, bringing total homes passed to 106,600 with a penetration rate of 16.0%[8] - Total subscribers decreased to 464,500 as of September 30, 2025, down from 473,800 as of March 31, 2025[38] - High-Speed Data (HSD) Revenue Generating Units (RGUs) decreased to 457,100 as of September 30, 2025, compared to 465,900 as of March 31, 2025[38] - Video RGUs declined to 40,000 as of September 30, 2025, down from 48,900 as of March 31, 2025[38] - Telephony RGUs decreased to 65,300 as of September 30, 2025, compared to 69,200 as of March 31, 2025[38] Capital Expenditures and Debt - Capital Expenditures totaled $52.5 million for Q3 2025, representing a $12.0 million increase compared to Q3 2024[16] - Total outstanding long-term debt and finance lease obligations was $1,065.5 million as of September 30, 2025, with total net leverage at 3.7x on a LTM Adjusted EBITDA basis[17] - Total capital expenditures for the three months ended September 30, 2025, were $52.5 million, an increase from $40.5 million in the same period in 2024[38] - Capital expenditures related to Greenfields were $20.2 million for the three months ended September 30, 2025, compared to $6.5 million in the same period in 2024[38] Acquisition and Corporate Developments - WOW! announced an agreement to be taken private by DigitalBridge Group Inc and Crestview Partners in a $1.5 billion transaction, subject to certain closing conditions[8] - The company is involved in a proposed acquisition by funds affiliated with DigitalBridge Investments and Crestview Partners, which may impact future operations[25] Company Recognition and Operations - WOW! serves approximately 2.0 million residential, business, and wholesale consumers across 20 markets, primarily in the Midwest and Southeast[24] - The company has been recognized nine times as a Best & Brightest Company to Work For in the Nation, indicating strong human resources practices[24] - The company incurred non-recurring professional fees and restructuring expenses of $14.0 million for the three months ended September 30, 2025[36]

Financial Performance - For the three months ended September 30, 2025, Openlane reported consolidated income from continuing operations of $47.9 million, up from $28.4 million in the same period of 2024, representing a 68% increase[4]. - Adjusted EBITDA for the three months ended September 30, 2025, was $87.1 million, compared to $74.5 million for the same period in 2024, reflecting a 17% year-over-year growth[4]. - For the nine months ended September 30, 2025, consolidated income from continuing operations was $118.2 million, a significant increase from $57.6 million in the same period of 2024, marking a 105% rise[5]. - The nine-month Adjusted EBITDA for 2025 reached $256.6 million, compared to $220.7 million in 2024, indicating a 16% increase[5]. - The company reported a total EBITDA of $316.8 million for the nine months ended September 30, 2025, compared to $272.4 million for the same period in 2024, which is a 16% increase[5]. - Openlane's EBITDA for the three months ended September 30, 2025, was $107.5 million, up from $100.2 million in the same quarter of 2024, showing a 7% increase[4]. - The company reported a net income of $170.5 million for the twelve months ended September 30, 2025, compared to $170.5 million for the previous year, indicating stable performance[6]. Revenue and Operating Metrics - For the three months ended September 30, 2025, OPENLANE reported total operating revenues of $498.4 million, an increase of 8% compared to $459.8 million for the same period in 2024[8]. - Auction fees increased to $136.3 million for the three months ended September 30, 2025, up from $113.2 million in 2024, representing a growth of 20%[7]. - Service revenue decreased slightly to $144.2 million in Q3 2025 from $148.1 million in Q3 2024, a decline of 2%[7]. - Operating profit for the three months ended September 30, 2025, was $55.0 million, compared to $42.5 million in 2024, reflecting a growth of 29%[7]. - For the nine months ended September 30, 2025, total operating revenues reached $1,440.2 million, an increase of 8% from $1,333.5 million in 2024[17]. Marketplace Performance - Total Marketplace revenue increased by $35.1 million, or 10%, to $389.4 million for the three months ended September 30, 2025, compared to $354.3 million for the same period in 2024[27]. - Gross merchandise value (GMV) for the three months ended September 30, 2025, was approximately $7.3 billion, up from $6.7 billion in 2024, reflecting a 9% increase[28]. - Auction fees rose by $23.1 million, or 20%, to $136.3 million for the three months ended September 30, 2025, with auction fees per vehicle sold increasing by $51, or 16%, to $366[29]. - Gross profit from the Marketplace segment increased by $18.9 million, or 19%, to $119.4 million for the three months ended September 30, 2025, with gross profit margin improving to 30.7% from 28.4%[32][33]. - For the nine months ended September 30, 2025, total Marketplace revenue increased by $107.5 million, or 11%, to $1,116.1 million compared to $1,008.6 million in 2024[37]. Financial Expenses and Taxation - The company incurred a finance interest expense of $28.1 million for the three months ended September 30, 2025, compared to $30.7 million in the same period of 2024, reflecting a decrease of 8%[4]. - Interest expense decreased by 76% to $1.1 million for the three months ended September 30, 2025, down from $4.6 million in 2024, primarily due to repayment of senior notes[10]. - The effective tax rate for the three months ended September 30, 2025, was 14.6%, significantly lower than 31.6% for the same period in 2024, due to changes in tax legislation[12]. Cash Flow and Assets - Cash provided by operating activities for the nine months ended September 30, 2025, was $266.4 million, an increase from $260.1 million in 2024[67]. - Total assets as of September 30, 2025, were $2,831.7 million, an increase from $2,677.7 million as of December 31, 2024[64]. - Net cash used by investing activities for the nine months ended September 30, 2025, was $195.5 million, a significant decrease from net cash provided of $10.4 million for the same period in 2024[69]. - Net cash used by financing activities for the nine months ended September 30, 2025, was $119.9 million, down from $264.3 million for the same period in 2024[70]. Credit Losses and Provisions - Provision for credit losses decreased by $2.9 million, or 56%, to $2.3 million for the nine months ended September 30, 2025, reflecting risk reduction initiatives[46]. - The finance provision for credit losses decreased by $1.7 million, or 15%, to $9.7 million for the three months ended September 30, 2025, compared to $11.4 million in 2024[55]. - The finance provision for credit losses for the nine months ended September 30, 2025, decreased by $9.8 million, or 26%, to $27.2 million compared to $37.0 million in 2024[61].

Financial Performance - Total revenue for the three months ended September 30, 2025, was $185.486 million, a decrease of 4.3% compared to $193.903 million for the same period in 2024[14] - Net loss for the three months ended September 30, 2025, was $83.730 million, compared to a net loss of $57.731 million for the same period in 2024, representing a 45% increase in losses[14] - The company reported a loss from operations of $61.337 million for the three months ended September 30, 2025, compared to a loss of $41.861 million for the same period in 2024[14] - Total costs and expenses for the three months ended September 30, 2025, were $246.823 million, an increase of 4.7% from $235.764 million for the same period in 2024[14] - The net loss for the nine months ended September 30, 2025, was $265,342,000, compared to a net loss of $252,097,000 for the same period in 2024, indicating an increase in losses[24] - For the three months ended September 30, 2025, total equity-based compensation expense was $12,499,000, a 58.5% increase from $7,885,000 in the same period of 2024[119] Assets and Liabilities - Total current assets decreased to $248.276 million as of September 30, 2025, down from $332.069 million as of December 31, 2024, reflecting a decline of 25.3%[9] - Total liabilities as of September 30, 2025, were $1.347 billion, slightly down from $1.354 billion as of December 31, 2024[9] - The company’s total assets decreased to $973.003 million as of September 30, 2025, down from $1.158 billion as of December 31, 2024, a reduction of 16%[9] - The company’s accumulated deficit increased to $2.368 billion as of September 30, 2025, compared to $2.102 billion as of December 31, 2024[12] - Long-term debt as of September 30, 2025, was $393.571 million, an increase from $376.308 million as of December 31, 2024, representing an increase of about 4.6%[56] Cash Flow and Liquidity - Cash and cash equivalents decreased to $125.327 million as of September 30, 2025, from $216.426 million as of December 31, 2024, a decline of 42.1%[9] - Cash flows from operating activities resulted in a net cash used of $147,926,000 for the nine months ended September 30, 2025, compared to $115,814,000 for the same period in 2024[24] - Total cash, cash equivalents, and restricted cash at the end of the period was $155,778,000, down from $246,468,000 at the beginning of the period[24] - The company redeemed the Revolving Equipment Notes for 19 aircraft, reducing the aggregate principal amount outstanding by $45.3 million during the nine months ended September 30, 2025[66] Revenue Breakdown - Membership revenue for the three months ended September 30, 2025, was $6.3 million, a decrease of 52% from $13.2 million in the same period of 2024[37] - Deferred revenue as of September 30, 2025, was $711.2 million, down from $749.6 million as of December 31, 2024[39] - The company recognized $371.6 million in revenue from amounts included in the deferred revenue beginning balance during the nine months ended September 30, 2025[39] Stock and Equity - The weighted-average shares of Class A common stock outstanding for the three months ended September 30, 2025, were 703,813,424, compared to 697,721,699 for the same period in 2024[14] - The company issued 21,157,534 shares of common stock under the ATM program, raising $47,597,000[24] - The company issued 21,157,534 shares of Common Stock under the ATM Program for $49.4 million in gross proceeds during the three and nine months ended September 30, 2025[96] Taxation - The company recorded an income tax expense of $1.3 million for the three months ended September 30, 2025, compared to $0.4 million for the same period in 2024[141] - The effective tax rate for the three months ended September 30, 2025 was (1.6)%, compared to (0.7)% for the same period in 2024[141] - The company expects to continue evaluating the realizability of deferred tax assets, with a valuation allowance established for the majority of U.S. deferred tax assets[144] Impairment and Expenses - A one-time non-cash impairment charge of $20.2 million was recorded for vacated office space during the three months ended March 31, 2025[92] - The company incurred equity-based compensation expenses of $33,455,000 for the nine months ended September 30, 2025, compared to $33,364,000 in 2024[24] Compliance and Regulations - The Company was in compliance with the covenants under the Credit Agreement as of September 30, 2025[74] - The company is monitoring the implementation of the OECD's Pillar Two model rules, which introduce a global minimum tax of 15% effective January 1, 2024, but it did not materially impact financial results for the periods ended September 30, 2025 and 2024[146]