Financial Performance - Consolidated net sales for the three months ended February 28, 2025, were $1,476.6 million, a decrease of 3.0% compared to $1,523.0 million for the same period in 2024[115]. - The CPG segment reported net sales of $473.4 million, down 4.5% from $495.8 million in the prior year, primarily due to unfavorable weather conditions and foreign exchange impacts[115][116]. - The PCG segment experienced a slight decline in net sales of 0.8%, totaling $340.6 million, compared to $343.5 million in the previous year[115][117]. - The Consumer segment achieved modest organic sales growth, with net sales of $503.8 million, a decrease of 0.7% from $507.2 million, impacted by unfavorable foreign exchange[115][118]. - The SPG segment saw a significant decline in net sales of 10.1%, totaling $158.8 million, primarily due to lower demand in specialty OEM markets[115][119]. - Consolidated net income for the three months ended February 28, 2025, was $52.3 million, or 3.5% of net sales, down from $61.5 million, or 4.0% of net sales, for the same period in 2024[137]. - For the nine months ended February 28, 2025, consolidated net sales increased to $5,327.1 million, a slight increase of 0.7% compared to $5,290.7 million in the prior year[138]. - Consolidated net income for the nine months ended February 28, 2025, was $464.3 million, representing 8.8% of net sales, compared to $408.6 million or 7.7% of net sales for the same period in 2024[161]. Cost and Expenses - Consolidated gross profit margin decreased to 38.4% for the third quarter of fiscal 2025, down from 39.9% in the prior year, reflecting reduced fixed-cost absorption and inflationary pressures[120]. - SG&A expenses decreased by $3.1 million year-over-year but increased to 34.0% of net sales from 33.1% in the prior year, driven by MAP 2025 initiatives and other cost factors[122]. - The CPG segment's SG&A decreased by approximately $11.6 million, while the PCG segment's SG&A increased by about $4.0 million due to merit increases and acquisition-related expenses[123][124]. - SG&A expenses decreased by $1.4 million year-over-year but increased slightly to 29.4% of net sales from 29.3%[146]. - Total restructuring costs for the nine months ended February 28, 2025, were $18.2 million, compared to $14.1 million for the same period in 2024, reflecting an increase of 29.1%[153]. - Restructuring costs related to the MAP 2025 initiative totaled $3.5 million for the three months ended February 28, 2025, down from $6.4 million in the prior year[129]. Tax and Pension - A net favorable income tax adjustment of $22.1 million was recorded, increasing the total deferred tax asset related to U.S. foreign tax credit carryforwards to $43.9 million as of February 28, 2025[109]. - The effective income tax benefit rate for the three months ended February 28, 2025, was (27.7%), compared to (26.4%) for the same period in 2024, influenced by a $22.1 million favorable adjustment for deferred income taxes[136]. - The effective income tax rate for the nine months ended February 28, 2025, was 14.7%, significantly lower than 25.5% for the same period in 2024[159]. - For the three months ended February 28, 2025, total net periodic pension and postretirement benefit costs decreased to $12.3 million from $15.2 million, a reduction of $2.9 million[128]. - The total net periodic pension and postretirement benefit costs for the nine months ended February 28, 2025, decreased to $37.0 million from $45.5 million, a reduction of $8.5 million[152]. - The company expects future pension expenses to fluctuate based on investment performance and interest rate changes, which may materially impact consolidated financial results[152]. Cash Flow and Liquidity - Cash provided by operating activities decreased to $619.0 million in the first nine months of fiscal 2025, down from $941.1 million in the same period last year, a decline of 34.2%[162]. - Cash used for investing activities increased to $305.7 million in the first nine months of fiscal 2025, compared to $153.9 million in the prior year, an increase of 98.2%[166]. - As of February 28, 2025, the company had $1.21 billion in available liquidity, down from $1.36 billion as of May 31, 2024, a decrease of 11.0%[171]. - The Net Leverage Ratio as of February 28, 2025, was 1.56 to 1.00, well below the maximum allowable ratio of 3.75 to 1.00[174]. Interest and Market Risks - Interest expense decreased to $23.0 million for the three months ended February 28, 2025, compared to $28.5 million for the same period in 2024, reflecting a decrease in the average interest rate from 4.75% to 4.41%[131]. - Interest expense decreased to $70.6 million for the nine months ended February 28, 2025, down from $90.7 million in the prior year, a reduction of 22.1%[155]. - The average interest rate for the nine months ended February 28, 2025, was 4.50%, down from 4.75% in the prior year, reflecting lower market rates[155]. - The company faces various uncertainties that could materially affect actual results, including market volatility, raw material prices, and legal risks[181]. - There have been no material changes in exposure to market risks related to raw materials costs, interest rates, and foreign exchange rates since May 31, 2024[182]. Future Outlook - The company expects inflationary headwinds to continue affecting results throughout fiscal 2025 and into fiscal 2026, with potential impacts from tariffs[121]. - The company incurred approximately $13.0 million of future additional charges related to the implementation of the MAP 2025 initiative[153]. - Environmental obligations are being appropriately addressed, with no anticipated material impact on results of operations or financial condition[180]. - The company has no off-balance sheet financings or subsidiaries not included in its financial statements[179].

Financial Results Announcement - RCI Hospitality Holdings, Inc. announced sales at nightclubs and restaurants for the second fiscal quarter ended March 31, 2025[4] - The press release detailing the financial results was issued on April 8, 2025[4] Company Information - The company is listed on the Nasdaq Global Market under the trading symbol RICK[2]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 ☐ 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: 001-40793 Ocean Biomedical, Inc. (Exact name of registrant as specified in its charter) Delaware 87-1309280 (State or other juri ...

Financial Performance and Capital Requirements - The company has incurred significant net losses since inception and is expected to continue incurring substantial net losses for the foreseeable future[21] - The company requires substantial additional capital to finance operations, and failure to raise such capital may force delays or reductions in research and drug development programs[21] - The company may face increased regulatory costs and compliance requirements in drug development, impacting financial performance[17] - The company is subject to ongoing regulatory obligations and continued review, which may result in significant additional expenses[22] Operational Risks - The company relies on third-party manufacturing and supply vendors, which may lead to limitations or interruptions in the supply of development materials[21] - The market opportunities for the company's product candidates may be relatively small, targeting patients ineligible for or who have failed prior treatments[21] - The company has identified material weaknesses in internal control over financial reporting, which could affect the accuracy of financial condition reporting[22] - The company has entered into agreements that may impose obligations, and failure to comply could result in loss of important rights[21] Stock and Securities - The company is classified as an "emerging growth company," which may make its securities less attractive to investors[22] - The company may experience volatility in stock price and warrants, posing risks to investors[22] - Each new non-employee director is granted a one-time stock option to purchase 75,000 shares at a strike price of $10.00 per share[884] - The estimated fair value of the stock options on the grant date was $3.73 per share, resulting in stock-based compensation expenses of $0.7 million for fiscal year 2024 and $0.6 million for fiscal year 2023[885] - The Backstop Put Option Liability has an estimated future stock price range of $0.17 to $0.55, with an expected volatility of 147.5% and a risk-free rate of 4.17%[890] - The 2024 Convertible Note has an estimated volatility of 55%, a risk-free rate of 4.37%, and a probability range of 0% to 65%[892] - The SPA Warrants have an estimated volatility of 115%, a risk-free rate of 4.29%, and a probability range of 0% to 65%[892] - The fair value of the Ayrton Note Purchase Option was determined to be zero as of December 31, 2024, and 2023[893] Company Structure and Reporting - The company operates as one reportable segment focused on discovering and developing therapeutic products in oncology, fibrosis, infectious diseases, and inflammation[895] - The company has no off-balance sheet arrangements during the periods presented[896] - The company adopted ASU 2020-06 effective January 1, 2023, which simplifies accounting for convertible instruments[897] - The company is classified as a "smaller reporting company" with an expected market value of stock held by non-affiliates less than $700 million and annual revenue below $100 million[901]

Company Overview - Royal Gold, Inc. reported stream sales for the quarter ended March 31, 2025, with specific details provided in a press release dated April 8, 2025[4] - The company is listed on the Nasdaq Global Select Market under the trading symbol RGLD[2] Financial Reporting - The press release is furnished as Exhibit 99.1 to the Current Report on Form 8-K[4] - The financial information provided will not be deemed "filed" under the Securities Exchange Act of 1934[5] - The report was signed by David R. Crandall, Vice President, Corporate Secretary, and Chief Compliance Officer[10]

Financial Results - CorMedix Inc. announced preliminary financial results for Q1 2025 on April 8, 2025[6] - The company provided a business update alongside the financial results[6] - The press release detailing these results is included as Exhibit 99.1[6]

Financial Position - As of December 31, 2024, the company had $17.2 million in cash and cash equivalents and working capital of $25.8 million[32]. - The company raised $10 million in a public offering in February 2024, which is being used to expand production capabilities and for general corporate purposes[206]. - As of December 31, 2024, the company had no outstanding bank debt and $2.4 million in unused revolving lines of credit[207][208]. - Net cash provided by operating activities was $4.5 million in 2024, down from $8.9 million in 2023, primarily due to a decrease in pre-tax income[212][213]. - Net cash used in investing activities rose significantly to $15.9 million in 2024 from $3.0 million in both 2023 and 2022, mainly for fixed asset purchases[215]. - Capital expenditures were approximately $9.5 million in 2024, compared to $2.4 million in 2023, reflecting increased investment in production equipment[218]. - The company expects to finance its 2025 operations through cash flow from operations and cash balances, although liquidity may be affected by external factors such as geopolitical tensions[219]. Revenue and Sales - Revenues decreased by 0.4% to $46.5 million in the year ended December 31, 2024, from $46.7 million in 2023, primarily due to operational challenges associated with new equipment installation[188]. - The company generated $15.8 million in sales to non-Israeli customers in 2024, accounting for 34% of total revenues, compared to $20 million (42.7%) in 2023 and $17.7 million (44.6%) in 2022[162]. - Defense and aerospace equipment accounted for 65% of the company's PCB production in 2024, up from 50.7% in 2023 and 48.7% in 2022[161]. - The backlog at December 31, 2024, was approximately $23.1 million, up from $18.1 million at December 31, 2023, with expectations to deliver most of this backlog in 2025[171]. Costs and Expenses - Cost of revenues increased by 7.7% to $36.2 million for the year ended December 31, 2024, from $33.6 million in 2023, mainly due to higher employee compensation costs[189]. - Gross profit decreased by 21% to $10.3 million for the year ended December 31, 2024, with gross profit margin dropping to 22.2% from 28.1% in 2023, attributed to increased manufacturing costs and a shift in product mix[190]. - Operating profit fell to $4.4 million in 2024 from $7.3 million in 2023, primarily due to the decrease in gross profit[191]. - Selling, general and administrative expenses were $5.8 million in 2024, slightly up from $5.7 million in 2023, maintaining a stable expense ratio[191]. - Research and development expenses were 0.4% of revenues in 2024, up from 0.2% in 2023, reflecting increased investment in innovation[186]. Market and Competition - Competition in the PCB market is intense, with significant pressure from manufacturers in Southeast Asia, which have lower production costs[40]. - The company competes with PCB manufacturers in Asia that have lower production costs, which could limit pricing power and affect financial results[88]. - Rapid changes in the electronics industry and recessionary pressures may lead to intensified price competition and reduced margins, adversely affecting financial results[65]. - The company has a strategy to focus on high-end PCB markets, particularly flex-rigid PCBs, which offer better margins[164]. Risks and Challenges - The company may require additional capital in the future, which may not be available, potentially affecting competitiveness and expansion plans[32]. - The company is dependent on unique machinery that may malfunction, affecting manufacturing activities and financial results[34]. - The company does not currently engage in hedging transactions, exposing it to risks from currency fluctuations[44]. - Political and military instability in Israel may disrupt operations and negatively affect business conditions and share price[41]. - The ongoing Israel-Hamas war may disrupt operations, delay shipments, and harm sales, potentially leading to a material adverse effect on the company's financial results[45]. - Travel advisories and restrictions could impact the ability to receive supplies and materials, adversely affecting timely product manufacturing[46]. - Unfavorable national and global economic conditions may reduce customer demand, leading to longer sales cycles and increased price competition[47]. - The company may face increased costs and resource expenditure due to new tariffs and trade policy uncertainties, particularly with countries like China and Canada[49]. - The Russian invasion of Ukraine has led to sanctions and geopolitical instability, which could disrupt operations and adversely affect financial condition[50]. - Cybersecurity breaches and natural disasters pose significant risks that could disrupt operations and lead to financial losses, with potential impacts on market share[70]. - International operations are subject to regulatory restrictions and economic instability, which may adversely affect sales and profitability[71]. - The company may face significant costs related to potential infringement claims on intellectual property, which could adversely affect its financial condition[94]. - The company relies on trade secrets and non-disclosure agreements for intellectual property protection, as it does not hold any patents[92]. - The company is affected by rising labor costs due to high demand for high-tech personnel in Israel[97]. - The company may be classified as a passive foreign investment company (PFIC), which could impose adverse tax implications for U.S. investors[109]. - The company has faced challenges in obtaining directors' and officers' insurance on reasonable terms, which may impact its ability to retain key personnel[103]. - The company is subject to the Israeli Companies Law, which limits dividend distributions based on profitability and solvency thresholds[112]. - The obligation of personnel to perform military reserve service could disrupt operations if a significant number of employees are called up[124]. - The company has been affected by restrictions on travel and business operations due to heightened unrest, impacting agreements with partners[120]. - Tax benefits provided by the Israeli government may be reduced or eliminated, adversely affecting operating costs and financial results[131]. Investments and Development - The company has received a 40% royalty-bearing participation grant from the Israel Innovation Authority for an $800,000 R&D program aimed at improving production rates, extended until September 2025[64]. - The company invested approximately $15 million in new equipment and facility expansion over the three years ending December 31, 2024, and plans to invest an additional $10 million in capital expenditures in 2025[140]. - The company has received ITAR registration to penetrate the U.S. defense market, enhancing its position in the aerospace sector[164]. - The company has ongoing programs to upgrade processes through high-quality standards and employee training[166]. - The company invested in new machinery and equipment in 2024, including a new solder mask application department and various drilling machines[155]. Shareholder Returns - The company declared a cash dividend of $0.22 per share in November 2023, totaling approximately $1.3 million, paid on December 21, 2023[110]. - The company has experienced significant fluctuations in its ordinary shares' market price and volume, influenced by various external factors[106].

Revenue Performance - Net revenue for the three months ended February 28, 2025, was $6,728 million, a decrease of 0.6% compared to $6,767 million for the same period in 2024[110]. - Net revenue for the six months ended February 28, 2025, was $13,722 million, a decrease of 9.4% compared to $15,154 million for the same period in 2024[120]. - The Connected Living and Digital Commerce segment net revenue decreased 13% in the three months ended February 28, 2025, primarily due to an 18% decrease driven by the divestiture of the Mobility Business[119]. - The Intelligent Infrastructure segment net revenue increased 18% in the three months ended February 28, 2025, primarily due to a 19% increase in revenues from existing customers within the cloud and data center infrastructure business[119]. Profitability Metrics - Gross profit for the three months ended February 28, 2025, was $576 million, representing 8.6% of net revenue, down from 9.3% in the same period in 2024[123]. - Core operating income (Non-GAAP) for the three months ended February 28, 2025, was $334 million, compared to $338 million for the same period in 2024[142]. - Diluted core earnings per share (Non-GAAP) increased to $1.94 for the three months ended February 28, 2025, from $1.68 in the same period in 2024[142]. Expenses and Charges - Selling, general and administrative expenses decreased to $256 million for the three months ended February 28, 2025, from $308 million in the same period in 2024[124]. - Research and development expenses remained consistent at $7 million for the three months ended February 28, 2025, compared to $10 million in the same period in 2024[125]. - Amortization of intangibles increased to $15 million for the three months ended February 28, 2025, compared to $9 million for the same period in 2024, reflecting a change of $6 million[126]. - Restructuring, severance, and related charges decreased to $45 million for the three months ended February 28, 2025, down from $70 million in the same period in 2024, a change of $(25) million[127]. - Acquisition and divestiture related charges decreased to $8 million for the three months ended February 28, 2025, compared to $46 million in the same period in 2024, a change of $(38) million[134]. - Interest expense, net decreased to $37 million for the three months ended February 28, 2025, down from $47 million in the same period in 2024, a change of $(10) million[137]. Cash Flow and Capital Expenditures - Adjusted free cash flow for the six months ended February 28, 2025, was $487 million, a significant increase of 120% compared to $221 million for the same period in 2024[143]. - Net cash provided by operating activities for the six months ended February 28, 2025, was $646 million, a decrease from $666 million for the same period in 2024[167]. - Net cash used in investing activities was $(503) million for the six months ended February 28, 2025, compared to $1,558 million for the same period in 2024[167]. - The company anticipates net capital expenditures to be in the range of 1.5% to 2.0% of net revenue for Fiscal Year 2025[171]. Acquisitions and Divestitures - The acquisition of Pharmaceutics International, Inc. was completed for a cash consideration of $307 million, enhancing the company's service offerings in regulated industries[144]. - The acquisition of Mikros Technologies was completed for $63 million, focusing on liquid cooling solutions for thermal management[146]. - The divestiture of the Mobility Business resulted in a pre-tax gain of $944 million, with transaction costs of approximately $46 million incurred during the sale process[148]. - The company recorded assets acquired of $349 million from the acquisition of Pharmaceutics International, including $149 million in intangible assets[145]. - The company incurred transaction and disposal costs of approximately $67 million related to the sale of the Mobility Business during the fiscal year ended August 31, 2024[154]. Financial Position and Liquidity - As of February 28, 2025, the company had approximately $1.6 billion in cash and cash equivalents, with a significant portion held by foreign subsidiaries[157]. - The company had $4.0 billion in available unused borrowing capacity under its revolving credit facilities as of February 28, 2025[158]. - The global asset-backed securitization program allowed the company to sell $2.0 billion of trade accounts receivable during the six months ended February 28, 2025[164]. - The global asset-backed securitization program's maximum cash proceeds available at any one time is $700 million, with terms amended to extend the termination date to January 2028[163]. - The company sold $2.0 billion and $3.7 billion of trade accounts receivable during the three and six months ended February 28, 2025, respectively[166]. - The outstanding balance of receivables sold but not yet collected was approximately $571 million as of February 28, 2025[166]. Share Repurchase and Stock Information - The company repurchased shares of common stock totaling $972 million under the 2025 Share Repurchase Program as of April 3, 2025[173]. - The company repurchased a total of 2,515,525 shares of common stock during the three months ended February 28, 2025, at an average price of $142.55 per share[185]. - As of February 28, 2025, the approximate dollar value of shares that may yet be purchased under the announced program is $364 million[185]. - The Board of Directors authorized a share repurchase program of up to $1.0 billion in September 2024[185]. - The average price paid per share for the repurchased shares in January 2025 was $169.14, with only 991 shares purchased[185]. Tax and Regulatory Information - The effective income tax rate for the three months ended February 28, 2025, was 36.2%, compared to 12.7% for the same period in 2024, a change of 23.5%[138]. - The company did not identify any modifications to its internal control over financial reporting that materially affected its effectiveness for the fiscal quarter ended February 28, 2025[182]. - There were no material changes in primary risk exposures or management of market risks from those disclosed in the Annual Report for the fiscal year ended August 31, 2024[180]. - No defaults upon senior securities were reported during the period[186]. Other Information - The sales cycle increased to 33 days for the three months ended February 28, 2025, compared to 27 days in the previous quarter[112]. - Days in accounts receivable increased to 50 days for the three months ended February 28, 2025, compared to 35 days in the same period in 2024[112]. - Four executive officers adopted trading arrangements under Rule 10b5-1 during the three months ended February 28, 2025, with total shares to be sold amounting to 664,246[189]. - The trading arrangements include up to 630,000 shares by the Executive Chairman of the Board of Directors, set to expire on March 31, 2027[189]. - The company issued a warrant to Amazon.com NV Investment Holdings LLC to acquire up to 1,158,539 ordinary shares at an initial exercise price of $137.77 per share[175]. - The fair value of the warrant was determined using the Black-Scholes option pricing model, with an expected volatility of 34.4%[178]. - The company has not disclosed any new product or technology developments in the provided content[188]. - There are no new strategies or market expansions mentioned in the content provided[188].

Asset Sale - Matador Resources Company announced the sale of its Eagle Ford assets on April 4, 2025[4] Financial Stability - The company provided an update on the strength of its balance sheet, indicating improved financial stability[4] - The press release detailing these updates is incorporated by reference into the current report[4]

Financial Performance - Total net sales for the second quarter were $146.1 million, an increase of 5 percent compared to the prior year fiscal quarter[5]. - Maintenance product sales reached $139.3 million, reflecting a 6 percent increase year-over-year, driven by strong performance in EIMEA and Latin America[5]. - Net sales for the six months ended February 28, 2025, increased to $299.6 million, up from $279.5 million in the same period of 2024, representing a growth of approximately 7.2 percent[27]. - Net income surged to $29.9 million, a 92 percent increase from the prior year fiscal quarter, aided by a favorable tax adjustment of $11.9 million[5]. - Net income for the six months ended February 28, 2025, was $48.8 million, compared to $33.0 million for the same period in 2024, indicating a growth of approximately 47.6 percent[29]. Earnings and Margins - Gross margin improved to 54.6 percent, up from 52.4 percent in the prior year fiscal quarter, representing a 220 basis point increase[5]. - Diluted earnings per share rose to $2.19, a 92 percent increase, with non-GAAP adjusted diluted EPS at $1.32, up 16 percent[5]. - Diluted earnings per share are now expected to be between $5.25 and $5.55, reflecting anticipated growth of 11 to 17 percent compared to 2024 pro forma results[19]. Segment Performance - The Americas segment accounted for 45 percent of total net sales, with a 3 percent increase in sales, primarily due to a 4 percent rise in WD-40 Multi-Use Product sales[9]. - EIMEA segment sales increased by 10 percent, driven by a 12 percent rise in WD-40 Multi-Use Product sales, particularly in Italy and the Benelux region[9]. - Asia-Pacific segment sales decreased by 1 percent, with a notable 2 percent decline in WD-40 Multi-Use Product sales, although sales in China increased by 5 percent[9]. Guidance and Future Plans - The company revised its fiscal year 2025 guidance, projecting net sales growth between 6 and 11 percent, with total net sales expected to be between $600 million and $630 million[12]. - The company plans to divest its homecare and cleaning product portfolios in the Americas and United Kingdom, as these products represented only 5 percent of total net sales[10]. Tax and Financial Position - The provision for income tax has been reduced and is expected to be around 22.5 percent[19]. - The company reported a tax benefit from the release of an uncertain tax position amounting to $11.9 million[29]. - Total current assets increased to $272.4 million as of February 28, 2025, compared to $255.4 million as of August 31, 2024[25]. - Total liabilities decreased to $216.1 million as of February 28, 2025, from $218.5 million as of August 31, 2024[25]. - Cash and cash equivalents at the end of the period were $53.0 million, compared to $55.4 million at the end of the same period in 2024[29]. - Operating expenses for the six months ended February 28, 2025, were $115.4 million, up from $103.4 million in the same period of 2024, reflecting an increase of approximately 11.5 percent[27]. Reporting - The company expects to file its Quarterly Report on Form 10-Q for the period ended February 28, 2025, on April 9, 2025[21].