Table of Contents 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 April 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: 001-38977 PHREESIA, INC. (Exact name of registrant as specified in its charter) Delaware 20-2275479 (State or oth ...

Financial Performance - Nutanix reported an 18% year-over-year growth in Annual Recurring Revenue (ARR), reaching $2.14 billion compared to $1.82 billion in the previous year[3]. - Total revenue for Q3 FY'25 was $639.0 million, representing a 22% increase from $524.6 million in Q3 FY'24[3]. - GAAP operating income improved to $48.6 million from a loss of $11.6 million year-over-year, marking a $60.2 million increase[3]. - Non-GAAP operating income rose to $137.1 million, up $63.8 million from $73.3 million in the same quarter last year[3]. - Free cash flow for the third quarter was $203.4 million, significantly higher than $78.3 million in Q3 FY'24, an increase of $125.1 million[3]. - Total revenue for the three months ended April 30, 2025, was $638,983,000, representing a 21.7% increase from $524,577,000 in the same period of 2024[21]. - Total revenue for the nine months ended April 30, 2025, reached $1,884,660,000, up 17.7% from $1,600,864,000 in the prior year[21]. - Gross profit for the three months ended April 30, 2025, was $555,992,000, compared to $444,958,000 for the same period in 2024, indicating a 24.9% increase[21]. - Total billings for the three months ended April 30, 2025, were $647,045,000, compared to $557,285,000 in the same period of 2024, reflecting a 16.1% increase[28]. - Total revenue for the nine months ended April 30, 2024, was $1.60 billion, compared to $1.88 billion for the same period in 2025, indicating a year-over-year increase of about 17.7%[30]. - Gross profit for the nine months ended April 30, 2025, was $1,633,711,000, with a gross margin of 86.7%[40]. - Net income for the nine months ended April 30, 2025, was $149,716,000, with diluted net income per share of $0.52[40]. Revenue Breakdown - Subscription revenue for the three months ended April 30, 2024, was $486.62 million, an increase from $609.66 million for the same period in 2025, representing a growth of approximately 25.2%[30]. - Subscription billings for the three months ended April 30, 2024, were $515.92 million, increasing to $627.25 million for the same period in 2025, representing a growth of approximately 21.6%[30]. - Professional services revenue for the three months ended April 30, 2024, was $26.24 million, compared to $28.00 million for the same period in 2025, showing a slight increase of approximately 6.7%[30]. - Other non-subscription product revenue for the three months ended April 30, 2024, was $11.72 million, significantly decreasing to $1.32 million for the same period in 2025, indicating a decline of approximately 88.7%[30]. Cash Flow and Expenses - Cash provided by operating activities for the nine months ended April 30, 2025, was $601,927,000, compared to $428,234,000 in the same period of 2024[25]. - Total operating expenses for the nine months ended April 30, 2025, were $1,492,378,000, resulting in an operating margin of 7.5%[40]. - Research and development expenses totaled $471,596, with a reduction of $117,664 compared to previous periods[46]. - Sales and marketing expenses were $717,926, reflecting a decrease of $61,110[46]. Future Projections - The company expects fourth quarter revenue to be between $635 million and $645 million, with a non-GAAP operating margin projected between 15.5% and 16.5%[5]. - For the full fiscal year 2025, Nutanix anticipates revenue between $2.52 billion and $2.53 billion, with a non-GAAP operating margin of approximately 20.5%[6]. - The company plans to use a long-term projected non-GAAP tax rate of 20% starting in fiscal 2025[48]. Stockholder Information - Total current liabilities decreased to $1,244,341,000 from $1,281,555,000 year-over-year[20]. - Total assets as of April 30, 2025, were $3,096,630,000, down from $2,143,918,000 in the previous year[20]. - Stockholders' deficit improved slightly to $(711,434,000) from $(728,148,000) year-over-year[20]. - The company reported a total stock-based compensation expense of $266,419,000 for the nine months ended April 30, 2025[25]. - The company included 56,094 potentially dilutive shares related to convertible senior notes and employee equity incentive plans[46]. Operational Highlights - Nutanix announced the general availability of Nutanix Cloud Infrastructure (NCI) for external storage, enhancing its cloud platform capabilities[4]. - A partnership with Pure Storage was established to deliver integrated solutions for mission-critical workloads, particularly in AI applications[4]. - The average contract duration increased to 3.1 years from 3.0 years, indicating a slight extension in customer commitments[3].

Financial Performance - REX reported Q1 2025 net sales and revenue of $158.3 million, a decrease of 5.4% from $161.2 million in Q1 2024[3] - Gross profit for Q1 2025 was $14.3 million, slightly down from $14.5 million in Q1 2024[3] - Net income attributable to REX shareholders in Q1 2025 was $8.7 million, compared to $10.2 million in Q1 2024, resulting in diluted net income per share of $0.51, down from $0.58[4] - Net income for the three months ended April 30, 2025, was $10,672 million, a decrease of 13.1% from $12,273 million in the same period of 2024[22] - Net cash used in operating activities was $3,476 million, compared to $2,263 million in the prior year, indicating a decline in operational cash flow[22] - Capital expenditures for the period were $6,900 million, significantly lower than $24,832 million in the previous year[22] - Net cash provided by investing activities was $1,809 million, down from $11,895 million year-over-year[22] - Cash and cash equivalents at the end of the period were $159,913 million, a decrease from $231,200 million at the end of the previous year[22] Shareholder Actions - REX repurchased approximately 822,000 shares for a total consideration of $32.7 million in Q1 2025, representing about 4.7% of outstanding shares[9] - Treasury stock acquired amounted to $32,670 million, reflecting a new strategy in capital management[22] Capital Expenditures and Investments - Capital expenditures related to the One Earth Energy carbon capture and ethanol production expansion project totaled $122.7 million, with a combined budget of $220-$230 million for completion[8] - Non-cash investing activities included accrued capital expenditures of $2,717 million, down from $3,938 million in the prior year[22] Ethanol Production - REX achieved consolidated ethanol sales volumes of 70.9 million gallons in Q1 2025[7] - The expansion of ethanol production at the One Earth facility is ongoing, with project completion anticipated in 2026[5] - REX's effective ownership of annual ethanol production volumes is approximately 300 million gallons across six facilities[13] Carbon Capture Project - The permitting process for the carbon capture project at the Gibson City location is ongoing, with final decisions expected in January 2026[6]

Financial Performance - Net sales reached a record $20.5 million, up 4% from $19.7 million in fiscal 2024, driven by strong shipments to the Alternative/Clean Energy Market[129]. - Gross profit decreased by 1% to $9.74 million, with a gross margin of 47.5%, down from 50% in the previous year, primarily due to product mix and reclassification of labor costs[129][135]. - Operating income fell to $1.01 million, down from $1.20 million in fiscal 2024, attributed to lower gross profit and higher operating expenses[129]. - Net income was approximately $1.3 million, a decrease from $1.4 million in fiscal 2024, reflecting lower gross profit and increased operating expenses[129]. - The backlog of equipment and service-related orders was $8.67 million, down 6.6% from the prior year-end record high of $9.28 million[129]. - Sales in the Alternative/Clean Energy market surged 64% to $9.84 million, driven by production-scale system shipments to the solar market[141]. - U.S. and Canada sales increased by 15% to $12.51 million, supported by the delivery of five high Average Selling Price systems totaling $3.85 million[142]. - Research and product development expenses decreased by 6% to $2.72 million, due to reduced salaries and reallocation of labor expenses[143][144]. - Total operating expenses rose slightly by 1% to $8.73 million, with general and administrative expenses increasing by 12%[143]. - Operating income decreased by $172,000 or 15%, to $1,010,000 in fiscal 2025 compared to $1,182,000 in the prior fiscal year[152]. - Net income decreased by $168,000 or 12%, to $1,273,000 for fiscal 2025 compared to $1,441,000 for the prior fiscal year[155]. Market and Sales Dynamics - In fiscal 2025, 39% of total sales were generated from international markets, amounting to approximately $7,998,000, down from 45% or $8,822,000 in fiscal 2024[24][35]. - Approximately 39% of sales originated outside the U.S. and Canada, highlighting the company's geographic diversity[131]. - The company expects to derive a substantial portion of sales from outside the U.S., indicating reliance on global economic conditions[47]. - The company is exposed to risks related to international sales, including tariffs and trade wars, which could significantly impact revenue[75]. - Changes in United States trade policy, including tariffs, may adversely impact the company's business and results of operations[44]. - Customers or suppliers experiencing cash flow problems may modify, delay, or cancel purchase plans, adversely affecting sales and earnings[48]. Operational Challenges - The company has not faced significant issues with raw material availability, managing inventory through lean manufacturing processes[29][30]. - The company has faced challenges in the supply of various materials and components, particularly electronic components, due to global supply chain shortages[73]. - The company has encountered difficulties in obtaining adequate supplies of components and raw materials, which could negatively affect profit margins[72]. - A tightening labor market could lead to increased costs and negatively affect project completion and operational efficiency[51]. - The company may rely on subcontractors to meet current demand, and any loss of these services could materially affect operations[74]. - Inflationary pressures have risen sharply since late 2021, with expectations of elevated rates throughout 2025, potentially impacting the company's liquidity and overall cost structure[80]. Strategic Initiatives - The company has invested significantly in expanding its product portfolio and market reach, leveraging its core ultrasonic coating technology[12][15]. - Sono-Tek's ultrasonic coating technology is utilized across various industries, including microelectronics, medical devices, and alternative energy, enhancing product performance and process efficiency[12][20]. - Sono-Tek's application consulting services support customers in optimizing their coating processes, enhancing customer relationships and satisfaction[23]. - The company plans to focus on rapid growth, including organic growth and possible acquisitions, which may strain resources[53]. - The ability to protect intellectual property rights is crucial for competitive advantage, but challenges exist in enforcement[54]. - The company faces competition from larger firms with greater resources, which could impact market share and revenue growth[63]. - Rapid technological changes may render existing products obsolete, necessitating timely and cost-effective responses[64]. - Development of new products and systems requires significant investment, and lack of market acceptance could adversely affect business[68]. Governance and Management - The company has a strong balance sheet with no debt, providing financial flexibility for growth and development opportunities[26]. - The company has a staggered board structure, with terms for certain directors running until the annual meeting in 2026, ensuring continuity in governance[182]. - The company has a strong focus on corporate governance, with no family relationships among directors and officers, ensuring independence[188]. - The Audit Committee, chaired by Eric Haskell, CPA, is responsible for selecting an independent public accountant and reviewing material accounting items affecting the consolidated financial statements[185]. - The Compensation Committee, led by Carol O'Donnell, oversees executive compensation and ensures compliance with NASDAQ's independent director requirements[186]. - Dr. Adeniyi Lawal, appointed as a Director in April 2024, brings extensive experience in renewable energy and has directed multi-million dollar projects funded by the Department of Energy[202]. - Eric Haskell's experience in acquisitions and divestitures provides valuable insights for the company's growth strategies[199]. Financial Management - The company has adopted a Stock Repurchase Plan allowing for open market purchases of up to $2,000,000 of its common stock[101]. - The company has not paid any cash dividends on its common stock since inception, indicating a focus on retaining earnings for business use[123]. - The company has no current plan to pay dividends, which may lead to investors losing their entire investment[105]. - The company's internal control over financial reporting must be effective to maintain investor confidence; any material weaknesses could negatively impact stock price and liquidity[84]. - Cash and cash equivalents increased by $3,067,000 to $5,202,000 at February 28, 2025, compared to $2,135,000 at February 29, 2024[157]. - Working capital increased by $1,378,000 to $13,501,000 at February 28, 2025, from $12,123,000 at February 29, 2024[156]. - Stockholders' equity increased by $1,513,000 from $16,279,000 at February 29, 2024, to $17,792,000 at February 28, 2025[158]. - Accounts receivable increased by $877,000 in fiscal 2025, primarily due to a large number of sales occurring in the fourth quarter[160]. - Interest and dividend income decreased by $41,000 to $489,000 for fiscal 2025 compared to $530,000 for the prior fiscal year[153]. - Income tax expense decreased to $261,000 for fiscal 2025 from $303,000 in the prior fiscal year, due to a decrease in income before income taxes[154]. Employee Relations - The company has maintained a good relationship with its 79 full-time and 10 part-time employees as of February 28, 2025[37]. - The company anticipates the need to hire additional qualified personnel to support business expansion, which may not be feasible[50]. Cybersecurity - The company is implementing cybersecurity measures to protect its operations and financial results[115]. Stock Market and Investor Relations - The market price of the company's common stock has been volatile, influenced by factors beyond its control[98]. - The company faces risks from potential activist shareholders that could disrupt its business and affect stock price[111].

Employee and Workforce Management - As of March 31, 2025, the company had 730 employees, with a voluntary employee turnover decrease of approximately 2.0 percentage points compared to the previous fiscal year, indicating improved employee satisfaction [71] - The company has implemented various health and wellness programs to enhance the physical and mental well-being of employees globally [76] - The company maintains a commitment to an inclusive workforce, aiming to reflect the communities in which it operates [73] - The company has invested heavily in talent acquisition and development processes, including standardized assessment processes and mentoring systems [72] - The company’s compensation package includes market-competitive pay, cash bonuses, stock-based compensation, and comprehensive benefits aimed at attracting and retaining talent [75] Financial Performance - Total revenues for the year ended March 31, 2025, were $240,978 thousand, an increase of 11.5% compared to $216,187 thousand in 2024 [302] - Gross profit for the year ended March 31, 2025, was $150,870 thousand, representing a gross margin of 62.6% [302] - Operating income for the year ended March 31, 2025, was $16,336 thousand, a significant recovery from an operating loss of $272,075 thousand in 2024 [302] - Net loss for the year ended March 31, 2025, was $(1,974) thousand, compared to a net loss of $(254,246) thousand in 2024 [304] - The company reported a comprehensive income of $3,006 thousand for the year ended March 31, 2025, compared to a comprehensive loss of $(256,206) thousand in 2024 [304] Cash Flow and Liquidity - Cash and cash equivalents as of March 31, 2025, were $27,321 thousand, a decrease from $28,214 thousand in 2024 [300] - Cash provided by operating activities increased to $46,808 thousand in 2025, compared to $44,133 thousand in 2024, reflecting a positive trend in operational efficiency [310] - Net cash used in investing activities was $4,499 thousand in 2025, a decrease from $81,306 thousand in 2024, suggesting improved investment management [310] - Proceeds from credit facility borrowings amounted to $73,465 thousand in 2025, compared to $71,000 thousand in 2024, indicating increased financing activity [310] Assets and Liabilities - Total assets as of March 31, 2025, were $433,348 thousand, down from $446,796 thousand in 2024 [300] - Total liabilities as of March 31, 2025, were $273,518 thousand, a decrease from $301,403 thousand in 2024 [300] - Stockholders' equity increased to $159,830 thousand as of March 31, 2025, from $145,393 thousand in 2024 [300] Research and Development - Research and development expenses for the year ended March 31, 2025, were $19,518 thousand, slightly up from $19,300 thousand in 2024 [302] - Research and development expenses are primarily composed of labor and third-party consultant costs, with costs expensed as incurred [348] Acquisitions and Goodwill - The company did not acquire any businesses in fiscal year 2025, while it acquired businesses for total net purchase prices of $87,187 million in 2024 and $6,140 million in 2023 [367] - Goodwill related to the GKE acquisition amounted to $48,850 as of March 31, 2024 [404] - The estimated fair value of consideration held back from the GKE acquisition was approximately $9,300 as of March 31, 2025 [391] Taxation - The total income tax expense for the year ended March 31, 2025, was $7,935,000, compared to a benefit of $(21,402,000) for 2024 [437] - The effective income tax rate for 2025 was 133.12%, compared to 7.76% in 2024, indicating a substantial increase in tax expense [438] - Deferred tax assets, net, decreased from $15,718 million in 2024 to $12,739 million in 2025, primarily due to an increase in the valuation allowance [439] Inventory and Cost Management - Total inventories decreased from $32,675 in March 31, 2024 to $25,365 in March 31, 2025, a reduction of approximately 22% [407] - The company maintains an inventory reserve for excess or obsolete inventory, which may fluctuate based on new information or changes in business conditions [335] Segment Performance - The company operates in four reportable segments, focusing on life sciences tools and quality control solutions for regulated applications in the pharmaceutical and healthcare industries [311] - The Sterilization and Disinfection Control segment generated revenues of $93,418 million in 2025, up from $75,124 million in 2024, marking a 24.3% increase [449] - Clinical Genomics revenues increased to $47,081 million in 2025 from $52,588 million in 2024, indicating a decline of 10.6% [449] Debt Management - The company repurchased convertible senior notes totaling $71,560 thousand in 2025, reflecting a strategic move to manage debt [310] - The outstanding balance under the Revolver as of March 31, 2025 was $10,000, with $115,000 available for borrowing [415] - The weighted average interest rate on borrowings under the Credit Facility was 7.2% as of March 31, 2025 [410]

Financial Performance - Total revenue for fiscal year 2025 was $158.7 million, representing a 10% increase compared to $144.9 million in fiscal year 2024[9] - Music Publishing revenue increased by 12% year-over-year to $107.4 million, while Recorded Music revenue grew by 4% to $44.3 million[9] - Operating income for fiscal year 2025 was $35.1 million, a 43% increase from $24.6 million in fiscal year 2024[11] - OIBDA for fiscal year 2025 rose 24% to $61.4 million, compared to $49.6 million in the previous year[11] - Net income for fiscal year 2025 was $7.7 million, or $0.12 per diluted share, compared to $0.8 million, or $0.01 per share, in fiscal year 2024[12] - For the fiscal year ended March 31, 2025, Reservoir reported revenues of $158.7M, a 10% increase from $144.9M in the previous year[29] - Operating income for the fiscal year 2025 was $35.1M, reflecting a significant 43% increase compared to $24.6M in fiscal year 2024[29] - Net income attributable to Reservoir Media, Inc. for fiscal year 2025 was $7.7M, up from $644.9K in fiscal year 2024[29] - OIBDA for the fiscal year ended March 31, 2025, was $61,360,000, up from $49,562,000 in 2024, reflecting a year-over-year increase of 23.8%[41] - Net income for the fiscal year ended March 31, 2025, was $7,731,000, significantly higher than $837,000 in 2024, indicating a substantial increase of 832.5%[46] Cash Flow and Liquidity - Cash provided by operating activities increased to $45.3 million, up $9.1 million from the previous fiscal year[19] - As of March 31, 2025, total available liquidity was $79.6 million, compared to $132.3 million as of March 31, 2024[20] - Cash and cash equivalents increased to $21.4M as of March 31, 2025, up from $18.1M in the prior year[30] Future Projections - The company expects mid-single-digit growth for both top and bottom lines in fiscal year 2026[1] - Reservoir expects fiscal year 2026 revenue to be in the range of $164M - $169M, representing a 5% growth at the mid-point[21] - Adjusted EBITDA for fiscal year 2026 is projected to be between $68M - $72M, indicating a 6% growth at the mid-point[21] Assets and Liabilities - Total assets as of March 31, 2025, were $865.1M, an increase from $783.5M as of March 31, 2024[30] - Current assets increased to $79.3M as of March 31, 2025, compared to $70.9M in the previous year[30] - Total liabilities rose to $498.9M as of March 31, 2025, from $429.0M a year earlier[32] Operational Highlights - The company signed multiple publishing deals, including with Snoop Dogg and Death Row Records, and acquired several publishing catalogs[4] - The launch of the new subsidiary, PopIndia, aims to enhance the company's international presence, particularly in the Middle East and North Africa[6] Non-GAAP Measures - Reservoir's management emphasizes the importance of non-GAAP financial measures for evaluating operations and performance[34] - The company emphasizes that OIBDA and Adjusted EBITDA are non-GAAP measures that provide insights into operational performance, but they should not be viewed as substitutes for GAAP measures[38] Interest and Expenses - The company reported an interest expense of $21,883,000 for the fiscal year ended March 31, 2025, compared to $21,088,000 in 2024, indicating a rise of 3.8%[46] - The amortization and depreciation expense for the fiscal year ended March 31, 2025, was $26,299,000, up from $24,986,000 in 2024, representing an increase of 5.2%[41] Segment Performance - The recorded music segment's OIBDA for the fiscal year ended March 31, 2025, was $22,749,000, up from $19,141,000 in 2024, which is an increase of 13.6%[44] - The music publishing segment's OIBDA for the fiscal year ended March 31, 2025, was $37,345,000, compared to $28,884,000 in 2024, reflecting a growth of 29.3%[42]

Revenue Growth - Quarterly revenues for 4Q25 were $62,135, representing a 5.5% increase compared to 4Q24, with core organic revenues growth of 6.3%[9] - Full fiscal year revenues for FY25 reached $240,978, an 11.5% increase from FY24, with core organic revenues growth of 5.0%[10] - The Sterilization and Disinfection Control division generated revenues of $24,749 in 4Q25, with core organic revenues growth of 10.3%[12] - The Biopharmaceutical Development division saw a 20.3% increase in core organic revenues for FY25, driven by increased spending on capital equipment in North America and Europe[15] - Clinical Genomics division revenues for 4Q25 were $11,511, with core organic revenues growth of 4.4%, but a decline of 10.1% for the full year due to regulatory challenges in the China market[16] - Organic revenues growth for the year ended March 31, 2025, was 4.6%, while total revenues growth was 11.5%[31] Financial Performance - Adjusted operating income (AOI) for FY25 increased 12.3% year over year to 23.5% as a percentage of revenues, despite a significant rise in performance-based compensation expenses[4] - Cash flows from operations for FY25 totaled $46,808, with free cash flow of $42,559 primarily used to pay down debt[3] - Gross profit for the year ended March 31, 2025, was $150,870,000, representing a 13.3% increase from $133,250,000 in 2024[26] - The company reported a net loss of $7,114,000 for the three months ended March 31, 2025, compared to a net loss of $254,583,000 in the same period of 2024[26] - Non-GAAP adjusted operating income (AOI) for the three months ended March 31, 2025, was $12,104,000, slightly down from $12,336,000 in 2024[29] Asset Management - The company reduced inventories by 22.4% compared to the prior year, enhancing its ability to manage debt[4] - The company’s total assets decreased to $433,348,000 as of March 31, 2025, from $446,796,000 in 2024[28] - Stockholders' equity increased to $159,830,000 as of March 31, 2025, compared to $145,393,000 in 2024[28] Strategic Initiatives - Mesa Labs fully integrated GKE into its corporate infrastructure within nine months and exceeded acquisition commitments for revenues and profitability[5] - The company implemented Salesforce CRM across all sales teams, contributing to accelerated bookings growth[5] Market Outlook - The company anticipates continued growth in revenues and operating performance, despite uncertainties in the market environment[24] Impairment - The company experienced a significant impairment of goodwill and long-lived assets amounting to $274,533,000 in the year ended March 31, 2024[26] Shareholder Information - The weighted average common shares outstanding for the three months ended March 31, 2025, was 5,439,000, compared to 5,394,000 in the same period of 2024[29]

Exhibit 99.1 Kingsoft Cloud Announces Unaudited First Quarter 2025 Financial Results BEIJING, May 28, 2025 — Kingsoft Cloud Holdings Limited ("Kingsoft Cloud" or the "Company") (NASDAQ: KC and HKEX: 3896), a leading cloud service provider in China, today announced its unaudited financial results for the first quarter ended March 31, 2025. Mr. Tao Zou, Chief Executive Officer of Kingsoft Cloud, commented, "Despite uncertainties in global supply chain, we believe the importance for cloud services as infrastru ...

Financial Performance - For Q1 2025, Edible Garden reported total revenue of $2.7 million, a decrease of 13.2% from $3.1 million in Q1 2024, primarily due to the exit from lower-margin floral and lettuce product lines[8]. - Non-perishable revenue grew by 15% year-over-year, indicating strong consumer demand for higher-margin, shelf-stable products like Kick. Sport Nutrition and Pickle Party[3]. - Gross profit increased to $88,000, representing a 283% year-over-year increase from $23,000 in the prior-year period, with gross margin improving to 3.2% from 0.7%[9]. - The company experienced a net loss of $3.3 million for Q1 2025, an improvement from a net loss of $4.0 million in Q1 2024, driven by cost reductions and higher-margin product sales[11]. - Revenue decreased from $3,132 million to $2,718 million, a decline of approximately 13.2%[22]. - Cost of goods sold decreased from $3,109 million to $2,630 million, resulting in a gross profit of $88 million[22]. - Selling, general and administrative expenses decreased from $3,884 million to $3,015 million[22]. - Net loss attributable to common stockholders was $3,324 million, compared to a net loss of $3,977 million in the previous period[22]. - Net income (loss) per common share was $(2.47), compared to $(341.14) in the previous period[22]. - Loss from operations improved from $(3,861) million to $(2,926) million[22]. - Interest expense increased from $(117) million to $(440) million[22]. - Total other income (expenses) worsened from $(116) million to $(398) million[22]. - The company reported a significant decrease in gross profit margin due to higher costs relative to revenue[22]. Strategic Initiatives - Edible Garden completed a $15.5 million acquisition of assets from NaturalShrimp Farms Inc., enhancing its R&D and warehousing capabilities[4]. - The company launched or expanded retail partnerships with key accounts including Walmart and Stop & Shop, supporting growth in both fresh and non-perishable categories[5]. - Edible Garden's strategic focus on higher-margin, branded product lines is expected to strengthen its competitive positioning in both retail and e-commerce channels[7]. Market Trends - Cut herbs saw a 13% seasonal growth in Q1 2025, reflecting increased consumer preference for convenience and value[3]. - The company maintains over 90% of its operations in the U.S., minimizing exposure to global tariffs and disruptions[6]. Cost Management - Selling, general and administrative expenses decreased to $3.0 million from $3.9 million in the prior year, primarily due to lower personnel costs[10].

Financial Performance - Fourth quarter sales decreased 4.9% to $295.0 million compared to $310.1 million in the same quarter of fiscal 2024[2] - Total sales for the twelve months ended March 2025 were $1,195,334, a decrease of 6.4% compared to $1,276,789 in 2024[32] - Gross profit decreased by 7.6% to $417,645 from $452,103 year-over-year[32] - Operating income fell significantly by 82.4% to $12,565, down from $71,425 in the previous year[32] - Net loss for fiscal 2025 was $5.2 million, or $0.22 per diluted share, compared to net income of $37.6 million, or $1.18 per diluted share in the prior year[14] - Net loss for the twelve months was $5,182, a decline of 113.8% compared to net income of $37,571 in 2024[32] - Diluted loss per share was $(0.22), a decrease of 118.5% from earnings of $1.18 per share in 2024[32] - Adjusted net income for the twelve months was $15,624, down from $42,398 in the previous year[42] Sales and Store Performance - Comparable store sales increased 2.8% in the fourth quarter, with notable increases of 27% for front end/shocks and 25% for batteries[3] - Preliminary quarter-to-date comparable store sales for the first quarter of fiscal 2026 are up approximately 7%[12] - The company identified 145 underperforming stores for closure during the first quarter of fiscal 2026[19] Expenses and Costs - Total operating expenses for fiscal 2025 were $405.1 million, or 33.9% of sales, compared to $380.7 million, or 29.8% of sales in fiscal 2024[14] - Store impairment charges for the twelve months were $24,355, compared to $1,915 in 2024[42] - Management restructuring costs for the twelve months were $1,778, up from $1,210 in the previous year[42] - Costs incurred related to restructuring and elimination of certain management positions[43] Cash Flow and Assets - The company generated cash from operating activities of $132 million during fiscal 2025[5] - Total assets as of March 2025 were $1,641,823, a slight decrease from $1,692,814 in 2024[34] - Current liabilities increased to $524,290 from $455,156 in the previous year[34] Dividends and Guidance - The company approved a cash dividend of $0.28 per share for the first quarter of fiscal 2026[18] - The company is not providing fiscal 2026 financial guidance at this time but will share expectations during its earnings conference call[20] Tax Rates - Adjusted effective tax rates were 24.7% for the quarter ended March 2025 and 27.1% for the quarter ended March 2024[43] - For the twelve months ended March 2025, the adjusted effective tax rate was 25.0%, compared to 26.5% for the twelve months ended March 2024[43] Other Financial Adjustments - Gain on sale of the corporate headquarters building, net of associated closing and relocation costs[43] - Loss on subsequent inventory adjustments from prior year sale of wholesale tire and distribution assets[43]