Revenue and Income - Revenue for the three months ended September 30, 2025, was $3.732 million, a decrease of 20% compared to $4.651 million in the same period of 2024[123] - Grant income for the three months ended September 30, 2025, was $828,000, representing a 100% increase from $0 in the same period of 2024[123] - Collaborative revenue recognized was $3.0 million for the three months ended September 30, 2025, primarily from agreements with SK On[126] Operating Performance - Total operating expenses decreased by $3.3 million to $28.982 million for the three months ended September 30, 2025, compared to $32.242 million in 2024, a reduction of 10%[123] - Operating loss for the three months ended September 30, 2025, was $24.422 million, an improvement of 11% from a loss of $27.591 million in the same period of 2024[123] - Direct costs decreased by 48% to $3.632 million for the three months ended September 30, 2025, compared to $6.973 million in 2024[123] Research and Development - Research and development expenses increased by 6% to $18.276 million for the three months ended September 30, 2025, compared to $17.319 million in 2024[123] Financing and Liquidity - The company raised net proceeds of $32.9 million through sales of common stock under an at-the-market offering program[121] - Total liquidity as of September 30, 2025, was $300.4 million, a decrease of $27.0 million compared to December 31, 2024[139] - Approximately $115.9 million remained available for future sales under the Equity Distribution Agreement as of September 30, 2025[145] Cash Flow - Cash used in operating activities increased by $5.0 million for the nine months ended September 30, 2025, with cash received from partners decreasing from $20.4 million in 2024 to $12.1 million in 2025[148] - Cash provided by financing activities increased by $39.5 million for the nine months ended September 30, 2025, mainly due to $32.9 million in net proceeds from the sale of common stock[155] - Cash used for capital expenditures totaled $8.1 million for the nine months ended September 30, 2025, primarily for the construction of the continuous electrolyte production pilot line[153] - Cash provided by investing activities decreased by $16.0 million for the nine months ended September 30, 2025, due to changes in proceeds and purchases of available-for-sale securities[151] Nonoperating Income and Expenses - Nonoperating income and expense decreased by $6.1 million for the three months ended September 30, 2025, primarily due to a $1.2 million decrease in interest income and a $5.1 million loss in the fair value of warrant liabilities[136] - Interest income earned decreased by $3.8 million for the nine months ended September 30, 2025, due to a reduction in available-for-sale securities[137] Future Expectations - The company expects to complete site acceptance testing of the SK On line by the end of 2025, which will lead to additional revenue recognition[126] - The company anticipates that cash used in operations for the remainder of the year will remain consistent, with decreased cash receipts from partners partially offsetting decreased cash used for expenses[150] - The Assistance Agreement with the U.S. Department of Energy provides funding of up to $50 million for the installation of equipment necessary for continuous production of sulfide-based solid electrolyte material[127] Share Repurchase - The company repurchased 3,361,396 shares of common stock at an average price of $1.05 per share for a total cost of approximately $3.53 million during the nine months ended September 30, 2025[146]

Financial Performance - Third quarter net sales reached $657.7 million, a 6.0% increase year over year, and a 5.3% increase in constant currency[6] - Year-to-date net sales totaled $2,081.5 million, up 3.5% year over year, and up 3.6% in constant currency[13] - Third quarter net income attributable to Acushnet Holdings Corp. was $48.5 million, down 13.7% year over year[6] - Year-to-date net income attributable to Acushnet Holdings Corp. improved to $223.4 million, a 3.7% increase year over year[19] - Adjusted EBITDA for the third quarter was $118.6 million, reflecting a 10.4% increase year over year[12] - Full-year 2025 revenue outlook updated to $2,520 to $2,540 million, with expected constant currency growth of 2.6% to 3.4%[22] - Full-year 2025 Adjusted EBITDA guidance set at approximately $405 to $415 million[22] Sales Breakdown - Net sales in the United States increased by $44.4 million for Titleist golf equipment and $10.2 million for Golf gear year-to-date[14] - Net sales in regions outside the United States increased by 1.8%, or 2.3% on a constant currency basis, driven by EMEA and Rest of World[15] - Golf balls segment sales increased to $202.4 million, up $11.8 million or 6.2% year-over-year[35] - The United States generated $397.0 million in sales, reflecting a $22.8 million increase or 6.1% from the previous year[36] - Golf gear sales for the nine months increased by $14.6 million or 7.5%, totaling $208.8 million[37] - EMEA region sales grew by $29.7 million or 11.3%, reaching $293.6 million for the nine months[38] - FootJoy golf wear sales decreased by $9.3 million or 1.9%, totaling $467.9 million for the nine months[37] - Japan experienced a decline in sales of $6.4 million or 5.9%, totaling $102.3 million for the nine months[38] Assets and Liabilities - Total assets increased to $2.35 billion as of September 30, 2025, compared to $2.18 billion at the end of 2024, marking a growth of 7.9%[32] - Cash and cash equivalents rose to $89.5 million at the end of Q3 2025, up from $53.1 million at the end of 2024[34] - Long-term debt increased to $878.3 million as of September 30, 2025, compared to $753.1 million at the end of 2024[32] Operating Expenses - Operating expenses for the nine months ended September 30, 2025, totaled $683.6 million, an increase from $660.0 million in the same period of 2024[31] - Research and development expenses for Q3 2025 were $18.6 million, slightly down from $18.9 million in Q3 2024[31] Shareholder Actions - The company repurchased 2,842,719 shares of common stock for an aggregate of $187.5 million during the nine months ended September 30, 2025[21] Future Outlook - Acushnet Holdings Corp. plans to continue expanding its presence in international markets and investing in new product development[28] Cash Flow - The company reported a net increase in cash of $36.4 million for the nine months ended September 30, 2025[34] Quarterly Highlights - In Q3 2025, total net sales reached $657.7 million, an increase of $37.2 million or 6.0% compared to Q3 2024[36] - Adjusted EBITDA for Q3 2025 was $118.6 million, compared to $107.4 million in Q3 2024, resulting in an Adjusted EBITDA margin of 18.0%[46] - For the nine months ended September 30, 2025, total net sales were $2,081.5 million, a $69.6 million increase or 3.5% from the same period in 2024[38] Non-GAAP Measures - The company utilizes non-GAAP measures such as Adjusted EBITDA to assess ongoing operating performance, excluding certain nonrecurring items[39]

Financial Performance - Total revenues for Q3 2025 were $441.9 million, slightly down from $443.4 million in Q3 2024[3] - Net income for the quarter was $12.9 million, or $0.52 per diluted share, compared to $33.4 million, or $1.33 per diluted share, in the same period last year[3] - Adjusted non-GAAP EPS for Q3 2025 was $1.12, down from $1.35 in Q3 2024[6] - Adjusted EBITDA for the quarter was $44.2 million, compared to $50.5 million in the same period a year ago[5] - Total operating income decreased to $5.9 million in Q3 2025 from $45.6 million in Q3 2024, a decline of 87.0%[24] - Net income for the nine months ended September 30, 2025, was $69.2 million, down from $106.0 million in the same period of 2024, a decrease of 34.7%[25] - Adjusted EBITDA for the nine months ended September 30, 2025, was $147.3 million, down from $168.6 million in the same period of 2024, a decrease of 12.5%[25] - The company reported a gross profit of $116.7 million in Q3 2025, down from $124.1 million in Q3 2024, a decrease of 5.9%[24] Revenue Breakdown - Performance Chemicals revenues were $170.8 million, up 4% year-over-year, but gross margins decreased by 7.0 percentage points to 15.1%[11] - Fuel Specialties revenues increased by 4% to $172.0 million, with gross margins improving by 2.0 percentage points to 35.6%[12] - Oilfield Services revenues decreased by 13% to $99.1 million, with operating income down 32% to $4.8 million[13] - Net sales for Performance Chemicals increased to $170.8 million in Q3 2025, up from $163.6 million in Q3 2024, representing a growth of 7.4%[24] Cash Flow and Assets - Cash generated from operating activities was $39.3 million, down from $73.5 million a year ago, with net cash position at $270.8 million[15] - Cash and cash equivalents decreased to $270.8 million as of September 30, 2025, from $289.2 million at the end of 2024, a decline of 6.0%[28] - Total assets increased to $1,799.4 million as of September 30, 2025, compared to $1,734.7 million at the end of 2024, an increase of 3.7%[28] - Total current liabilities decreased to $356.1 million as of September 30, 2025, from $371.4 million at the end of 2024, a reduction of 4.1%[28] Corporate Costs and Dividends - Corporate costs for the quarter were $18.2 million, up from $11.8 million a year ago, which included an $8.4 million recovery of historic pension costs[14] - The company announced a 10% increase in the semi-annual dividend to $0.87 per share, bringing the annual dividend to $1.71 per share[17] Capital Expenditures and Impairments - Capital expenditures for the nine months ended September 30, 2025, were $35.7 million, compared to $29.3 million in the same period of 2024, an increase of 21.8%[30] - The company incurred an impairment of property, plant, and equipment amounting to $22.9 million in the nine months ended September 30, 2025[30]

Financial Performance - Reported Net Sales from Continuing Operations of $2.684 billion, a 3% decrease from the prior year[4] - Adjusted EBITDA of $638 million, representing a 10% decrease year-over-year, with an adjusted EBITDA margin of 24%[5][9] - Net Loss attributable to Owens Corning was $(495) million, with a net loss margin of (18%) from continuing operations[4][5] - Net sales for the three months ended September 30, 2025, were $2,684 million, a decrease of 2.9% compared to $2,763 million in the same period of 2024[25] - Gross margin for the three months ended September 30, 2025, was $757 million, down from $851 million in 2024, reflecting a decline of 11.0%[25] - The company reported a net loss of $494 million for the three months ended September 30, 2025, compared to net earnings of $321 million in the same period of 2024[25] - Adjusted EBITDA from continuing operations for the three months ended September 30, 2025, was $638 million, representing 24% of net sales, compared to 26% in Q3 2024[27] - Basic loss per share from continuing operations was $(5.93) for Q3 2025, compared to earnings of $3.30 per share in Q3 2024[29] - For the nine months ended September 30, 2025, net sales increased to $7,961 million, up 9.4% from $7,277 million in the same period of 2024[25] - Net earnings for the nine months ended September 30, 2025, were a loss of $225 million, compared to a profit of $905 million in the same period of 2024[35] Cash Flow and Shareholder Returns - Operating Cash Flow of $918 million, an increase of 31% compared to the previous year[4][5] - Free Cash Flow of $752 million, reflecting a 35% increase year-over-year[4][5] - The company returned $278 million to shareholders through dividends and share repurchases in Q3 2025[7] - Free cash flow for the nine months ended September 30, 2025, was $629 million, down from $766 million in 2024[43] - Net cash flow provided by operating activities for the nine months ended September 30, 2025, was $1,196 million, slightly down from $1,216 million in 2024[35] Future Outlook - Owens Corning expects revenue from continuing operations in Q4 2025 to decline mid-to-high teens to approximately $2.1 billion to $2.2 billion[15] - The company anticipates adjusted EBITDA margin from continuing operations of approximately 16% to 18% for Q4 2025[15] - Owens Corning is on track to exceed $125 million in enterprise cost synergies by mid-2026[11] - The new shingle plant in Prattville, Alabama, is expected to come online in 2027 to support future growth[11] Segment Performance - The Roofing segment reported net sales of $1,240 million for the three months ended September 30, 2025, a 2% increase from $1,221 million in 2024[37] - The Insulation segment experienced a 7% decline in net sales, reporting $941 million for the three months ended September 30, 2025, down from $1,008 million in 2024[38] - The Doors segment saw a significant increase in net sales, rising 85% to $1,639 million for the nine months ended September 30, 2025, compared to $884 million in 2024[39] Expenses and Liabilities - Total operating expenses increased significantly to $1,084 million in Q3 2025 from $379 million in Q3 2024, primarily due to a goodwill impairment charge of $780 million[25] - The company incurred a total adjusting items expense of $784 million for the three months ended September 30, 2025, compared to $72 million in the same period of 2024[27] - Goodwill impairment charge amounted to $780 million for the nine months ended September 30, 2025, with no such charge in 2024[41] - Total liabilities increased from $8,955 million at December 31, 2024, to $9,079 million at September 30, 2025, an increase of 1.4%[33] - Total assets decreased from $14,075 million at December 31, 2024, to $13,517 million at September 30, 2025, a decline of 4%[33] - Total equity decreased from $5,120 million at December 31, 2024, to $4,438 million at September 30, 2025, a decline of 13.3%[33] Interest and Earnings - The company’s interest expense for the nine months ended September 30, 2025, was $192 million, compared to $148 million in the same period of 2024[25] - Adjusted diluted earnings per share from continuing operations for the nine months ended September 30, 2025, were $10.81, down from $11.83 in the same period of 2024[29]

Financial Performance - Third quarter 2025 sales were $806.5 million, a decrease of 1% from $815.2 million in the prior year quarter[5]. - Third quarter GAAP EPS was $0.36, down from $0.41 in the prior year quarter, while adjusted EPS increased to $0.70, representing an 8% growth year-over-year[5][3]. - Total sales for the third quarter of 2025 were $806.5 million, a decrease of 1.1% from $815.2 million in the same period of 2024[33]. - Operating income for the nine months ended September 30, 2025, was $163.9 million, a decrease of 32.8% compared to $243.7 million for the same period in 2024[33]. - Net income for the nine months ended September 30, 2025, was $66.4 million, down 45.4% from $122.2 million in 2024[30]. - Net income for Q3 2025 was $32.8 million, down from $38.7 million in Q3 2024, with adjusted net income for the year ended December 31, 2024, at $244.9 million[35]. - Special items impacted net income by $15.7 million in the third quarter of 2025, compared to $6.6 million in the same quarter of 2024[26]. Margins and Earnings - Adjusted EBITDA margins expanded by 60 basis points to 16.5% due to a focus on profitable mix and increased productivity[4]. - The company continues to focus on disciplined cost control and productivity initiatives to drive margin expansion and earnings growth[7]. - Adjusted gross margin for Q3 2025 was $259.6 million, representing 32.2% of sales, compared to 32.1% in Q3 2024[35]. - Operating income for Q3 2025 was $67.1 million, down from $77.2 million in Q3 2024, with adjusted operating income at $86.5 million[35]. - EBITDA for Q3 2025 was $114.0 million, compared to $122.0 million in Q3 2024, while adjusted EBITDA increased to $132.9 million[35]. - Adjusted operating income as a percentage of sales for the nine months ended September 30, 2025, was 11.6%, up from 11.4% in the same period of 2024[35]. - The adjusted EBITDA as a percentage of sales for the nine months ended September 30, 2025, was 17.1%, compared to 16.7% in the same period of 2024[35]. Guidance and Expectations - The company maintains its full-year adjusted EPS guidance range of $2.77 to $2.87, reflecting a year-over-year growth of 4% to 8%[5][7]. - The company updated its full-year adjusted EBITDA guidance range to $540 to $550 million, considering current customer order patterns[7]. Cash Flow and Debt Management - Strong cash flow generation allowed for an additional $50 million in debt repayment, totaling $100 million year-to-date, with an expectation of $150 million total debt repayment for 2025[5][7]. - Cash and cash equivalents at the end of the third quarter of 2025 were $445.6 million, a decrease from $544.5 million at the end of 2024[28]. - The company reported a net cash provided by operating activities of $133.8 million for the nine months ended September 30, 2025, slightly down from $134.2 million in 2024[30]. Market Conditions - Demand in key markets was negatively impacted by weak consumer sentiment and geopolitical uncertainty, although defense, healthcare, and telecommunication sales grew in the high single digits[6]. Special Items and Costs - The company incurred restructuring costs of $4.0 million in the third quarter of 2025, compared to $3.1 million in the same quarter of 2024[26]. - Special items in operating income for Q3 2025 totaled $19.4 million, compared to $8.4 million in Q3 2024[35]. Assets and Share Information - Total assets increased to $6,055.8 million as of September 30, 2025, compared to $5,811.1 million at the end of 2024[28]. - The weighted-average diluted shares used to compute earnings per share were 91.8 million for the third quarter of 2025[24]. - Cash dividends declared per share increased to $0.2700 from $0.2575 in the prior year quarter[24].

Financial Performance - Third quarter 2025 revenue totaled $1.0 billion, a decrease of 9.1% compared to $1.1 billion in the prior-year period[2] - Net income from continuing operations was $39.3 million, or $1.72 per diluted share, down from $100.3 million, or $4.23 per diluted share in Q3 2024[2] - Operating income was $70.2 million with an operating ratio of 90.3%, compared to $64.0 million and an operating ratio of 91.0% in the prior year[7] - Revenues for Q3 2025 were $1,048,137, a decrease of 1.4% from $1,063,124 in Q3 2024[20] - Operating income for Q3 2025 was $54,627, down 59.5% from $134,993 in Q3 2024[20] - Net income from continuing operations for the nine months ended September 30, 2025, was $68,214, compared to $144,326 for the same period in 2024, representing a decline of 52.8%[20] - Total consolidated revenues from continuing operations for Q3 2025 were $1,048,137, a decrease of 1.1% compared to $1,063,124 in Q3 2024[24] - Asset-Based revenues for the nine months ended September 30, 2025, were $2,086,081, slightly down from $2,093,914 in the same period of 2024[24] - The company reported a basic earnings per share of $2.97 for the nine months ended September 30, 2025, down from $6.12 in 2024[20] - Diluted earnings per share from continuing operations for Q3 2025 were $1.72, down from $4.23 in Q3 2024[29] Operating Metrics - Tonnage growth was driven by a 4.3% increase in daily shipments, primarily from newly onboarded core LTL customers[4] - Daily revenue in the Asset-Light segment decreased by 8.3% to $356.0 million compared to $385.3 million in the prior year[15] - Sequentially, third quarter revenue and shipments per day were flat, while weight per shipment declined by 3.9%[9] - Total operating expenses from continuing operations for Q3 2025 were $993,510, representing 94.8% of total revenues, up from 87.3% in Q3 2024[24] - Asset-Based shipments per day increased by 4.3% to 21,095 for the three months ended September 30, 2025, compared to 20,221 in 2024[40] - Tonnage per day increased by 2.3% to 11,238 for the three months ended September 30, 2025, compared to 10,983 in 2024[40] - Shipments per employee per day increased by 32.6% for the three months ended September 30, 2025, compared to the same period in 2024[41] Asset and Liabilities - Total assets increased to $2,501,181 as of September 30, 2025, up from $2,429,731 at the end of 2024[22] - Cash and cash equivalents decreased to $120,604 at the end of Q3 2025, down from $127,444 at the end of 2024[23] - Total current liabilities increased slightly to $670,455 as of September 30, 2025, compared to $665,985 at the end of 2024[22] - The company’s long-term debt, less current portion, increased to $135,469 as of September 30, 2025, from $125,156 at the end of 2024[22] - The company’s retained earnings increased to $1,495,194 as of September 30, 2025, compared to $1,435,250 at the end of 2024[22] Segment Performance - Asset-Light segment achieved $1.6 million of non-GAAP operating income despite revenue declines, supported by record volumes and improved margins[11] - The Asset-Light segment reported an operating loss of $1,595 in Q3 2025, compared to an operating income of $84,779 in Q3 2024[24] - For the three months ended September 30, 2025, ArcBest Corporation reported an operating income of $70,162 thousand with an operating ratio of 90.3% for the Asset-Based Segment, compared to $64,020 thousand and 91.0% in the same period of 2024[31] - The Asset-Light Adjusted EBITDA for the three months ended September 30, 2025, was $3,052 thousand, compared to a loss of $2,094 thousand in the same period of 2024[36] Cash Flow and Investments - Net cash provided by operating activities for the nine months ended September 30, 2025, was $184,291, a decrease from $229,048 in 2024[23] - Over $66 million returned to shareholders through share repurchases and dividends year-to-date[6] - The company continues to invest in innovative technology, with costs amounting to $7,713 in Q3 2025, down from $8,512 in Q3 2024[29] - The total depreciation and amortization for the nine months ended September 30, 2025, was $125,290 thousand, an increase from $109,720 thousand in the same period of 2024[35] Tax and Impairment - The effective tax rate for continuing operations for the three months ended September 30, 2025, was 26.6%, compared to 26.6% in the same period of 2024[33] - The company recognized a noncash impairment charge related to an equity investment in Phantom Auto, which ceased operations in Q1 2024[39] - The total effective tax rate for GAAP amounts was impacted by non-GAAP adjustments based on statutory rates applicable to each item[39] Other Notable Changes - The change in fair value of contingent consideration for the MoLo acquisition was reduced to zero in Q2 2025, reflecting no expected earnout payment[26] - The company recorded a net gain of $15.7 million related to two service center sales during Q3 2025[24] - The gain on the sale of certain properties for the three months ended September 30, 2025, was $(15,726) thousand, compared to $(15,726) thousand in the same period of 2024[33] - Average length of haul in miles decreased by 1.2% to 1,129 for the three months ended September 30, 2025, compared to 1,143 in 2024[40] - Asset-Based billed revenue per hundredweight decreased by 1.1% to $50.19 compared to $50.76 in 2024[40] - The Asset-Based segment reported a 3.0% decrease in billed revenue per shipment for the three months ended September 30, 2025, compared to 2024[40] - Billed revenue per hundredweight decreased by 1.1% in Q3 2025 compared to the same period in 2024[8] - The company reported a 0.8% increase in tonnage per day for the nine months ended September 30, 2025, compared to the same period in 2024[40]

Product Development and Approval - ANKTIVA has been approved by the U.S. FDA and the MHRA for the treatment of adult patients with BCG-unresponsive NMIBC with CIS, with commercial distribution beginning in May 2024[340][341] - The company submitted a supplemental Biologics License Application (sBLA) for BCG-unresponsive papillary NMIBC in March 2025 and received a Request for Information (RTF) letter from the FDA in May 2025[342] - ANKTIVA is being evaluated in multiple oncology indications, including lung, colorectal, prostate, and ovarian cancers, as well as GBM and NHL[342] - Data from clinical trials suggest ANKTIVA may enhance the activity of therapeutic monoclonal antibodies (mAbs) across various tumor types, including lung cancer[343] - The company is exploring ANKTIVA's potential in treating infectious diseases, including HIV and Long COVID[343] - ANKTIVA has shown potential to increase lymphocyte count in healthy adults, indicating its use as a therapy to rescue lymphopenia[343] - Early results from glioblastoma patients treated with ANKTIVA showed 100% disease control, prompting the initiation of a randomized registration trial[352] - ImmunityBio has begun enrollment in a global Phase 3 study for non-small cell lung cancer, evaluating ANKTIVA in combination with other therapies[352] Financial Performance - Q3 2025 total revenue and other income reached $33.7 million, up from $26.4 million in Q2 2025, representing a growth of approximately 27.6%[352] - Product revenue increased by 434% in Q3 2025 compared to Q3 2024, with year-to-date sales totaling $74.7 million[352] - ANKTIVA unit sales volume grew by 467% year-to-date in 2025 compared to fiscal year 2024[352] - As of September 30, 2025, the cash position was $257.8 million, an increase from $153.7 million as of June 30, 2025[352] - Product revenue, net increased by $25.8 million to $31.78 million for the three months ended September 30, 2025, representing a 434% increase compared to the same period in 2024[381] - Total revenue for the three months ended September 30, 2025, was $32.06 million, up 425% from $6.11 million in 2024[380] - Total revenue for the nine months ended September 30, 2025, was $75.0 million, up from $7.2 million in 2024, marking a 943% increase[390] Expenses and Losses - Research and development expense rose by $0.8 million to $51.23 million, a 2% increase compared to $50.44 million in the prior year[384] - Selling, general and administrative expense increased by $0.4 million to $36.28 million, reflecting a 1% rise from $35.92 million in 2024[387] - Loss from operations improved by $24.62 million, resulting in a loss of $55.63 million for the three months ended September 30, 2025, a 31% decrease from the loss of $80.25 million in 2024[380] - The company reported an accumulated deficit of $3.7 billion as of September 30, 2025, with net losses of $289.5 million and $354.4 million for the nine months ended September 30, 2025, and 2024, respectively[354] - Research and development expenses decreased slightly by $0.2 million to $154.7 million, with a significant expected increase in future R&D investments for product candidates and clinical trials[394][395] - Selling, general and administrative expenses decreased by $15.8 million to $111.3 million, primarily due to a reduction in legal and consulting costs[397] Cash Flow and Financing - Cash and cash equivalents, along with marketable securities, increased to $257.8 million as of September 30, 2025, compared to $149.8 million at the end of 2024[400] - The company has $565.6 million available for use under its $750.0 million shelf registration statement filed in 2023[401] - The company generated net proceeds of approximately $74.8 million from a securities purchase agreement on April 7, 2025, involving the sale of 29,024,768 shares of common stock[404] - The Revenue Interest Purchase Agreement (RIPA) generated a gross purchase price of $100.0 million following the FDA approval of ANKTIVA in April 2024[406] - For the nine months ended September 30, 2025, net cash used in operating activities was $234.6 million, compared to $306.1 million for the same period in 2024[412][413] - Net cash used in investing activities for the nine months ended September 30, 2025, was $193.4 million, significantly higher than $22.1 million for the same period in 2024[416][417] - Net cash provided by financing activities was $345.3 million for the nine months ended September 30, 2025, compared to $174.7 million for the same period in 2024[419][420] Future Outlook and Funding Needs - The company expects significant increases in research and development expenses as it continues to invest in clinical trials and product development[372] - The company anticipates ongoing increases in selling, general and administrative expenses as it commercializes ANKTIVA and expands operations[377] - The company expects to incur significant incremental commercialization expenses for product sales, marketing, manufacturing, and distribution as it scales operations[422] - Future funding requirements will depend on various factors, including the ability to generate sufficient revenues from the approved product and other candidates[427] - The company anticipates needing substantial additional funding to support ongoing operations and commercialization efforts[423][424] - The company has obligations to pay approximately $304.0 million in contingent consideration related to the acquisition of Altor, contingent on net sales exceeding $1.0 billion before December 31, 2026[410] - The company is obligated to pay approximately $2.3 million of contingent consideration related to the acquisition of VivaBioCell upon achieving a regulatory milestone[410] - The company may face dilution of ownership interest if additional capital is raised through equity sales or debt conversions[428] - The company has no committed source of additional capital and may need to delay or reduce research and development programs if unable to raise sufficient funds[428] Regulatory and Market Considerations - The company emphasizes the importance of regulatory approvals and market acceptance for its product candidates[334] - The company is awaiting a decision from the NCCN regarding the expansion of BCG-unresponsive NMIBC guidelines to include papillary-only disease[352] - The company must respond to various technological, regulatory, and market developments, which may incur additional costs[429] - There have been no material changes to financial market risks related to interest rates, foreign currency exchange rates, and stock price volatility[440]

Financial Performance - ImmunityBio reported $33.7 million in total revenue for Q3 2025, up from $26.4 million in Q2 2025, reflecting strong sales momentum[1] - Product revenue for Q3 2025 was $31.8 million, a 434% increase from $6.0 million in Q3 2024, with year-to-date sales totaling $74.7 million[3] - The company reported a net loss of $67.3 million for Q3 2025, an improvement from a net loss of $85.7 million in Q3 2024[8] - Research and development expenses increased to $51.2 million in Q3 2025, up from $50.4 million in Q3 2024, due to higher manufacturing and distribution costs[6] - Selling, general and administrative expenses rose to $36.3 million in Q3 2025, compared to $35.9 million in Q3 2024, driven by increased headcount costs[7] - Total liabilities as of September 30, 2025, were $1.042 billion, with a stockholders' deficit of $524.3 million[14] - For the three months ended September 30, 2025, ImmunityBio reported a net cash used in operating activities of $68,907 thousand, compared to $98,763 thousand for the same period in 2024, reflecting a decrease of approximately 30.2%[15] - The net cash used in investing activities for the three months ended September 30, 2025, was $181,361 thousand, a significant increase from a net cash provided of $65,032 thousand in the same period of 2024[15] - Financing activities provided net cash of $173,519 thousand for the three months ended September 30, 2025, compared to $15,582 thousand in the same period of 2024, indicating a substantial increase of approximately 1006.5%[15] - The total cash and cash equivalents, and restricted cash at the end of the period on September 30, 2025, was $61,337 thousand, down from $112,300 thousand at the end of the same period in 2024, representing a decrease of approximately 45.5%[15] Clinical Development - ImmunityBio initiated a randomized registration trial for recurrent glioblastoma patients based on promising early results showing 100% disease control in five patients[1] - Enrollment has begun in a global Phase 3 study for ANKTIVA in combination with TEVIMBRA and docetaxel for NSCLC patients resistant to checkpoint inhibitors[1] - ImmunityBio cautions investors about the risks and uncertainties associated with its clinical development programs and regulatory processes, emphasizing the need for careful consideration of forward-looking statements[22] Product and Market Strategy - ANKTIVA, a first-in-class IL-15 agonist, is currently approved by the U.S. FDA for treating adult patients with BCG-unresponsive NMIBC with CIS, marking a significant milestone for ImmunityBio[18] - ImmunityBio's ANKTIVA is designated as an FDA Breakthrough Therapy, highlighting its potential to activate NK cells, T cells, and memory T cells for a long-duration response in cancer treatment[19] - The company is focused on developing next-generation therapies that enhance the natural immune system to combat cancers and infectious diseases, aiming to create durable and safe protection against these diseases[19] - ImmunityBio is exploring potential cancer vaccines and immunotherapies that could reduce or eliminate the need for standard high-dose chemotherapy, indicating a strategic shift in cancer care[19] - The company is actively pursuing regulatory submissions and market access initiatives to expand the use of ANKTIVA and other therapies, with expectations for increased patient access and potential treatment outcomes[20]

Exhibit 99.1 Contact: Investors: Stacey Walters (509) 495-2046 stacey.walters@avistacorp.com Media: Lena Funston (509) 495-8090 lena.funston@avistacorp.com Avista 24/7 Media Access (509) 495-4174 Avista Corp. Reports Strong Q3 2025 Financial Results, Confirms 2025 Earnings Guidance Analysis of 2025 Consolidated Earnings SPOKANE, Wash. – Nov. 5, 2025, 4:05 a.m. PST: Avista Corp. (NYSE: AVA) today reported third quarter 2025 financial results. Third quarter net income rose to $0.36 per diluted share in 2025, ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED September 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission file number 1-3701 AVISTA CORPORATION (Exact name of Registrant as specified in its charter) (State or other jurisdiction of incorporation o ...