FOURTH QUARTER AND FISCAL YEAR 2024 FINANCIAL RESULTS AND SHAREHOLDER LETTER Exhibit 99.2 A LETTER FROM OUR CHAIRMAN AND CEO RH REPORTS FOURTH QUARTER AND FISCAL YEAR 2024 RESULTS FOURTH QUARTER 2024 HIGHLIGHTS GAAP Net Revenues of $812M Increased 10%, GAAP Operating Income of $70M Increased 9%, Adjusted Operating Income of $92M Increased 38%, GAAP Operating Margin of 8.7%, Adjusted Operating Margin of 11.3%, GAAP Net Income of $14M, Adjusted Net Income of $32M, and Adjusted EBITDA Margin of 17.1% On a comp ...

Financial Performance - The company has incurred losses totaling €380.4 million since inception, with a net loss of €68.1 million for the year ended December 31, 2024[102]. - As of December 31, 2024, the company had cash and cash equivalents of €49.7 million[102]. - The company anticipates continuing to incur significant losses for the foreseeable future due to ongoing clinical studies and development expenses related to its product candidates[103]. - The company has not yet established a source of revenue sufficient to cover its operating costs, relying instead on capital increases and collaboration agreements[104]. - The company expects near-term losses and cash utilization to stabilize or slightly decrease due to amendments in the Janssen Agreement[97]. - The company may face challenges in raising additional funding, which could materially affect its operations and financial position[105]. - The company may face dilution of current ownership interests if additional capital is raised through equity or convertible securities[108]. - Debt financing could lead to increased fixed payment obligations and may impose restrictive covenants affecting operational flexibility[108]. - The company has entered into loan agreements with the European Investment Bank, Bpifrance Financement, and HSBC France, which could impact financial stability if payment defaults occur[110]. - Failure to obtain timely funding may result in significant delays or discontinuation of research and development programs[111]. Competition and Market Risks - The company faces substantial competition from other biotechnology and pharmaceutical companies, many of which have greater resources and experience[99]. - The company may face difficulties in achieving market acceptance for NBTXR3, even if it receives regulatory approval[153]. - The ability to penetrate global markets is crucial for future profitability, dependent on Janssen's commitment and resource allocation[159]. - Legislative and political uncertainties could adversely affect the ability to market products and generate revenues[257]. Clinical Development Challenges - The development of product candidates is subject to high attrition rates, with no assurance of success at any stage[113]. - The complexity of the nanotechnology used in product candidates like NBTXR3 may lead to unpredictable development timelines and costs[125]. - Manufacturing processes for NBTXR3 are highly regulated and subject to risks that could impact production and supply[129]. - Difficulty in patient enrollment for clinical studies could delay regulatory approval and commercialization timelines[136]. - Changes in manufacturing processes may require additional regulatory approvals, potentially delaying product development[135]. - The company faces challenges in patient enrollment for clinical trials due to competition and limited qualified investigators, which may delay or terminate studies[138]. - Delays in patient enrollment could lead to increased costs and affect the timing of clinical trials, potentially hindering product development[140]. - Undesirable side effects from product candidates could interrupt clinical trials and delay regulatory approvals, impacting market acceptance[141]. - The company relies on third parties for various aspects of development, which may lead to risks if these parties do not perform satisfactorily[171]. Regulatory and Compliance Issues - The regulatory landscape for the company's product candidates, particularly NBTXR3, is complex and may lead to unexpected costs or delays in obtaining necessary marketing authorizations[227][228]. - NBTXR3 is classified as a Class III medical device in the EU and as a drug in the U.S., requiring compliance with different regulatory frameworks that may extend the development timeline and increase costs[229]. - The company must provide regulatory authorities with data demonstrating the safety and efficacy of its product candidates before they can be marketed, which adds to the complexity of the approval process[230]. - Delays or failures in obtaining marketing authorization or CE-marking could significantly decrease the company's ability to generate product revenue[231]. - The approval processes for product candidates, including NBTXR3, are lengthy, expensive, and unpredictable, potentially harming the business if regulatory approval is not obtained[232]. - Regulatory authorities may impose limitations on approved products, including restrictions on marketing, labeling, and the need for costly post-marketing clinical trials[237]. - The company received Fast Track designation from the FDA for NBTXR3 in February 2020 for treating locally advanced head and neck squamous cell cancer, but this does not guarantee a faster approval process[244]. - Regulatory compliance is critical post-approval, and failure to meet requirements could lead to significant penalties, including suspension or withdrawal of marketing authorization[239]. - The company is subject to extensive healthcare laws and regulations, which could lead to significant civil, criminal, and administrative penalties if found non-compliant[263]. Strategic Partnerships and Licensing - A global exclusive licensing agreement with Janssen is critical for the commercialization of NBTXR3, with future payments expected to contribute significantly to revenue[165]. - The company transferred the sponsorship of the NANORAY-312 clinical trial to Janssen, increasing reliance on Janssen for successful execution[166]. - The company’s reliance on Janssen limits its ability to pursue additional studies or collaborations in oncology, amplifying associated risks[167]. - The company has strategic licensing agreements, including the Janssen Agreement, which grants worldwide development and commercialization rights for product candidate NBTXR3[180]. - The company faces risks if strategic licensees do not effectively pursue product candidates, potentially impacting revenue streams from milestone and royalty payments[181]. Operational and Management Risks - The company has identified a material weakness in internal control over financial reporting, which could adversely affect investor confidence[204]. - The company identified material weaknesses in internal control over financial reporting for the years ended December 31, 2022, and December 31, 2023, due to insufficient supervisory personnel with appropriate technical accounting experience[206]. - Remediation plans have been implemented to address these material weaknesses, but the effectiveness of these controls cannot be assured for the year ending December 31, 2024[207]. - The company may face limitations in preventing or detecting misstatements in financial statements, which could impact compliance with securities law and investor confidence[208]. - Compliance with Section 404 will incur substantial accounting expenses and management attention, with independent auditors required to attest to the effectiveness of internal controls starting with the annual report for the year ending December 31, 2025[209]. - The company may face difficulties in managing growth and expansion, which could disrupt operations and increase expenses[195]. - The company must share trade secrets with third parties, increasing the risk of unauthorized disclosure or misappropriation[188]. Supply Chain and Manufacturing Risks - The company is dependent on third parties for the supply of materials necessary for product candidates, which could be interrupted, affecting development and commercialization timelines[184]. - The company faces risks related to potential interruptions in supply from approved manufacturers, which could disrupt clinical and commercial supply chains[270]. - The company must ensure that all third-party manufacturers adhere to regulatory requirements to avoid sanctions that could disrupt operations[267]. - The company’s product candidates, including NBTXR3, are subject to rigorous quality control measures to prevent contamination and ensure stability[266]. - Manufacturing facilities, including the in-house facility in Villejuif, France, must comply with stringent cGMP and ISO13485 regulations, which may increase operational costs and complexity[265][269]. Insurance and Liability - The company maintains product liability insurance, but coverage may be insufficient to cover potential claims, impacting financial stability[199]. - Non-compliance with healthcare laws could result in exclusion from government-funded healthcare programs, significantly impacting revenue streams[263].

Financial Performance - Total revenue for the year ended December 31, 2024, was $51.7 million, an increase of 20% compared to $43 million in 2023[4] - Adjusted operating income for 2024 was $0.9 million, a turnaround from an adjusted operating loss of $2.4 million in 2023, representing an increase of approximately $3.3 million[5] - Net loss for 2024 was $12.6 million, significantly reduced from a net loss of $24.4 million in 2023[7] - Loss per share for 2024 was $1.22 based on 10,306,904 weighted average shares outstanding, compared to $3.39 per share in 2023 based on 7,206,577 shares[8] - Revenues increased to $51.68 million in 2024, up 19.8% from $43.12 million in 2023[30] - Net loss narrowed to $12.60 million in 2024 compared to a net loss of $24.40 million in 2023, representing a 48.5% improvement[30] - Adjusted income from operations improved to $922,613 in 2024 from a loss of $2.42 million in 2023[35] - Basic loss per share improved to $(1.22) in 2024 from $(3.39) in 2023, indicating a significant reduction in loss per share[30] Operating Expenses - Operating expenses for 2024 were $62.2 million, down from $63.2 million in 2023, despite nonrecurring expenses including a $6.7 million impairment of goodwill[6] - Total expenses decreased slightly to $62.17 million in 2024 from $63.23 million in 2023, reflecting a reduction of 1.7%[30] Cash and Assets - Cash and cash equivalents rose to $8.20 million in 2024 from $6.43 million in 2023, an increase of 27.5%[28] - Total assets decreased to $58.44 million in 2024 from $66.25 million in 2023, a decline of 11.6%[28] - Total liabilities increased slightly to $46.79 million in 2024 from $46.30 million in 2023, an increase of 1.0%[28] - Employee receivable increased to $1.01 million in 2024 from $796,085 in 2023, a rise of 26.8%[28] - Goodwill decreased to $21.51 million in 2024 from $25.22 million in 2023, a reduction of 14.7%[28] Strategic Initiatives - The company launched "The Pod," a new shareholder loyalty program offering perks such as gift cards and access to events[22] - Dolphin was named '2025 Agency of the Year' by Observer's PR Power List, highlighting its industry recognition[3] - The company is focusing on sustainable growth and profitability through investments in growth initiatives and opportunistic hiring[2] - Dolphin achieved milestones with 137 new talent signings in 2024, indicating expansion in its talent management division[17] - The company plans to expand its digital identity protection services through a partnership with Loti AI[11]

Exhibit 99.1 Fundamental Global Inc. Reports Fourth Quarter and Full Year 2024 Financial Results Mooresville, NC – April 1, 2025 - Fundamental Global Inc. (Nasdaq: FGF, FGFPP) (the "Company" or "Fundamental Global") today announced results for the fourth quarter and full year ended December 31, 2024. Kyle Cerminara, Chairman and Chief Executive Officer commented, "During 2024, we implemented initiatives to consolidate multiple public companies and streamline and simplify our operating structure. We successf ...

Financial Performance - Total net sales for the three months ended February 28, 2025, reached $365.5 million, a 28.3% increase from $284.8 million in the same period last year[13] - Gross profit for the six months ended February 28, 2025, was $202.5 million, compared to $164.8 million for the same period in 2024, reflecting a 22.8% increase[13] - Operating income for the three months ended February 28, 2025, was $18.5 million, a significant recovery from an operating loss of $3.3 million in the prior year[13] - Net income attributable to Penguin Solutions for the three months ended February 28, 2025, was $8.1 million, compared to a net loss of $13.6 million in the same period last year[13] - The comprehensive income attributable to Penguin Solutions for the six months ended February 28, 2025, was $13,306,000, compared to $172,529,000 for the same period in 2024, indicating a decrease of about 92%[14] - Basic earnings per share for continuing operations for the three months ended February 28, 2025, was $0.09, compared to a loss of $(0.26) for the same period in 2024[93] Cash and Assets - Cash and cash equivalents increased to $621.7 million as of February 28, 2025, up from $383.1 million as of August 30, 2024[12] - Total assets grew to $1.81 billion as of February 28, 2025, compared to $1.47 billion as of August 30, 2024, marking a 22.8% increase[12] - The company reported long-term debt of $638.900 million as of February 28, 2025, compared to $657.347 million as of August 30, 2024[49] - As of February 28, 2025, cash and cash equivalents were $596.5 million, with short-term investments totaling $25.3 million[41] Liabilities and Equity - The company reported a total current liabilities of $473.7 million as of February 28, 2025, compared to $327.6 million as of August 30, 2024, indicating a 44.5% increase[12] - The total shareholders' equity as of February 28, 2025, was $602,528,000, reflecting an increase from $399,208,000 as of August 30, 2024, which is an increase of approximately 51%[15] - Total liabilities increased to $1.20 billion, up from $1.08 billion in the previous reporting period[12] Research and Development - Research and development expenses for the three months ended February 28, 2025, were $19.9 million, slightly down from $20.5 million in the same period last year[13] - Research and development expenses for the six months ended February 28, 2025, totaled $39,718,000, slightly down from $41,915,000 in the same period of 2024[13] Share Repurchase and Dividends - The company issued 553 shares under equity plans, resulting in an increase of $382,000 in additional paid-in capital[16] - Penguin Solutions repurchased shares worth $6,472,000 during the reporting period, contributing to a reduction in treasury shares[15] - The company declared and paid preferred cash dividends of $2.2 million in the second quarter of 2025, with accrued preferred dividends of $0.4 million as of February 28, 2025[63] Segment Performance - Advanced Computing segment sales increased to $200.2 million, up 41.5% from $141.4 million year-over-year[95] - Integrated Memory segment sales rose to $105.3 million, a 26.4% increase compared to $83.3 million in the prior year[95] - Total segment operating income for the three months was $49.1 million, compared to $26.5 million in the same period last year, reflecting an increase of 85.2%[95] Future Outlook - The company anticipates continued growth in revenues driven by new product launches and market expansion initiatives[6] - The company anticipates continued growth in the Advanced Computing and Integrated Memory segments, driven by demand in AI and high-performance computing markets[96] - The company plans to continue focusing on advanced computing solutions across multiple markets, including financial services and healthcare, to drive future growth[96] Impairments and Restructuring - The company incurred an impairment of goodwill of $6,079,000 during the three months ended February 28, 2025[13] - Restructuring charges recorded in the first six months of 2025 amounted to $1.0 million, compared to $6.3 million in the same period of 2024[84] - The company anticipates recording additional restructuring charges in future quarters[84] Tax and Other Expenses - The effective tax rate for the second quarter of 2025 was 46.3%, significantly higher than the (20.3)% effective tax rate in the second quarter of 2024[87] - The total interest expense for convertible senior notes for the six months ended February 28, 2025, was $4.6 million, compared to $3.3 million for the same period in 2024, reflecting a year-over-year increase of 40.4%[52]

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 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 February 28, 2025 OR For the transition period from to Commission File Number 001-38102 PENGUIN SOLUTIONS, INC. (Exact name of registrant as specified in its charter) Cayman Islands 98-1013909 (State or othe ...

Financial Performance - Total net sales for Q2 fiscal 2025 reached $365.5 million, representing a 28.3% increase compared to the same quarter last year[5] - GAAP gross margin was 28.6%, a decrease of 20 basis points from the year-ago quarter, while non-GAAP gross margin was 30.8%, down 70 basis points[5] - GAAP diluted earnings per share (EPS) improved to $0.09 from a loss of $(0.26) in the year-ago quarter, while non-GAAP diluted EPS increased to $0.52 from $0.27[5] - Total net sales for the three months ended February 28, 2025, reached $365,519 thousand, a 7.5% increase from $341,102 thousand in the previous quarter[21] - Advanced Computing segment sales increased to $200,157 thousand, up 12.8% from $177,426 thousand in the prior quarter[21] - Gross profit for the three months ended February 28, 2025, was $104,648 thousand, representing a gross margin of 28.6%[22] - Operating income for the three months ended February 28, 2025, was $18,488 thousand, compared to $17,356 thousand in the previous quarter[21] - Net income attributable to Penguin Solutions for the three months ended February 28, 2025, was $8,082 thousand, an increase from $5,217 thousand in the prior quarter[21] - Non-GAAP gross profit for the three months ended February 28, 2025, was $112,408 thousand, with a non-GAAP gross margin of 30.8%[22] - GAAP net income for the three months ended February 28, 2025, was $8,082,000, compared to $5,217,000 for the same period in 2024, representing a 55.5% increase[23] - Non-GAAP net income attributable to Penguin Solutions for the six months ended February 28, 2025, was $60,354,000, up from $26,679,000 in the prior year, reflecting a 126.3% increase[23] Financial Outlook - The company raised its revenue outlook for fiscal year 2025 to a growth of 17% year-over-year, with a margin of +/- 3%[6] - Projected gross margin for fiscal year 2025 is set at 29% +/- 1% for GAAP and 31% +/- 1% for non-GAAP[6] - Operating expenses are expected to be approximately $336 million +/- $5 million for GAAP and $265 million +/- $5 million for non-GAAP[6] - The company anticipates a diluted EPS of $-0.02 +/- $0.10 for GAAP and $1.60 +/- $0.10 for non-GAAP in fiscal year 2025[6] Cash and Assets - Total current assets increased to $1,244,765,000 as of February 28, 2025, from $867,704,000 as of August 30, 2024, marking a 43.4% growth[24] - Cash and cash equivalents rose to $621,682,000 as of February 28, 2025, compared to $383,147,000 a year earlier, indicating a 62.2% increase[24] - Total assets reached $1,811,344,000 as of February 28, 2025, up from $1,474,506,000 as of August 30, 2024, representing a 22.8% increase[24] - Cash, cash equivalents, and restricted cash at the end of the period on February 28, 2025, totaled $621,998,000, up from $370,611,000 at the end of the previous period[26] Expenses and Liabilities - Research and development expenses for the three months ended February 28, 2025, totaled $19,907 thousand, slightly up from $19,811 thousand in the previous quarter[21] - Total operating expenses for the three months ended February 28, 2025, were $86,160 thousand, compared to $80,456 thousand in the prior quarter[21] - Interest expense for the three months ended February 28, 2025, was $2,183 thousand, down from $4,396 thousand in the previous quarter[21] - Long-term debt decreased to $638,900,000 as of February 28, 2025, from $657,347,000 as of August 30, 2024, a reduction of 2.1%[24] - Total liabilities increased to $1,199,453,000 as of February 28, 2025, from $1,075,298,000 as of August 30, 2024, indicating an 11.5% rise[24] Cash Flow - The company reported a net cash provided by operating activities from continuing operations of $72,877,000 for the three months ended February 28, 2025, significantly up from $13,819,000 in the prior year[25] - The net cash used for investing activities from continuing operations was $(4,349,000) for the three months ended February 28, 2025, compared to $(18,922,000) in the same period of 2024[26] - The company experienced a net cash used for financing activities from continuing operations of $182,859,000 for the three months ended February 28, 2025, compared to $(7,763,000) in the prior year[26] Special Events and Changes - The company plans to transition Jack Pacheco to a special advisor role following his retirement on December 31, 2025[10] - Non-GAAP adjustments for fiscal year 2025 include $31 million for share-based compensation and $48 million for amortization of acquisition-related intangibles[7] - The company incurred an impairment of goodwill amounting to $6,079,000 during the three months ended February 28, 2025[25] - The company raised $191,182,000 from the issuance of convertible preferred shares during the three months ended February 28, 2025[26] - Preferred shares increased to 6 as of February 28, 2025, from none as of August 30, 2024, reflecting a new issuance[24] Strategic Importance of Non-GAAP Measures - Penguin Solutions emphasizes the importance of non-GAAP measures for assessing operational performance and making strategic decisions[17]

Exhibit 99.1 Press Release FOR IMMEDIATE RELEASE Quarterly Financial Results PENGUIN SOLUTIONS REPORTS Q2 FISCAL 2025 FINANCIAL RESULTS Revenue up 28% compared with year-ago quarter Company raises midpoint of annual revenue outlook Milpitas, Calif. – April 2, 2025 – Penguin Solutions, Inc. ("Penguin Solutions," "we," "us," or the "Company") (NASDAQ: PENG) today reported financial results for the second quarter of fiscal 2025 and announced the planned retirement of Chief Operating Officer ("COO") and Preside ...

CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (date of earliest event reported): April 2, 2025 Lucid Group, Inc. (Exact name of registrant as specified in its charter) (Commission File UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K Delaware 001-39408 85-0891392 (I.R.S. Employer Identification No.) (State or other jurisdiction of incorporation or organization) 7373 Gateway Boulevard Newark, CA 94560 (Address of Principal ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ 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 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of eve ...