Financial Performance - Total revenues decreased 3.1% to $686.5 million in Q2 FY2025 compared to $708.4 million in Q2 FY2024[4] - Net income for Q2 FY2025 was $19.7 million, or $2.43 per diluted share, compared to $50.8 million, or $6.66 per diluted share in Q2 FY2024[6] - Adjusted EBITDA for the three months ended April 30, 2025, was $61.3 million, compared to $102.2 million for the same period in 2024, reflecting a decrease of 40.1%[29] - The net income available to common stockholders for the three months ended April 30, 2025, was $17,057,000, a decline of 64.6% from $48,167,000 in 2024[42] - Income before income taxes for the three months ended April 30, 2025, was $26,530,000, a significant decrease of 61.8% compared to $69,392,000 in 2024[42] Homebuilding Metrics - Homebuilding gross margin percentage after cost of sales was 13.8% in Q2 FY2025, down from 19.5% in Q2 FY2024[4] - Consolidated contracts decreased 7.5% to 1,398 homes valued at $706.6 million in Q2 FY2025 compared to 1,512 homes valued at $785.8 million in Q2 FY2024[6] - Home deliveries totaled 1,398 units for the three months ended April 30, 2025, a decrease of 7.5% from 1,512 units in 2024[44] - Total home deliveries decreased by 1.4% to 2,603 homes compared to 2,639 homes in the previous year[49] - The backlog of contracts as of April 30, 2025, was 1,711 homes, reflecting a decrease of 15.2% from 2,018 homes in 2024[44] Liquidity and Financial Position - Total liquidity as of April 30, 2025, was $202.4 million, within the targeted range of $170 million to $245 million[13] - Cash and cash equivalents decreased to $73,980,000 as of April 30, 2025, from $209,976,000 as of October 31, 2024[40] - The company reported a total liabilities figure of $1,732,729,000 as of April 30, 2025, down from $1,805,225,000 in the previous period[40] - The company’s total stockholders' equity increased to $820,370,000 as of April 30, 2025, compared to $800,349,000 as of October 31, 2024[40] Future Outlook - The company expects total revenues for Q3 FY2025 to be between $750 million and $850 million[9] - Adjusted homebuilding gross margin for Q3 FY2025 is expected to be between 17.0% and 18.0%[9] - Forward-looking statements indicate potential risks including economic conditions, interest rate fluctuations, and supply chain issues that may impact future performance[23] Inventory and Assets - Total inventories increased to $1,743,965,000 as of April 30, 2025, compared to $1,644,804,000 as of October 31, 2024, reflecting a growth of approximately 6%[40] - Total assets decreased to $2,553,099,000 as of April 30, 2025, from $2,605,574,000 as of October 31, 2024[40] Segment Performance - The Northeast segment saw a 10.8% decrease in revenue to $513,432 thousand, while home deliveries increased by 35.0% to 895 homes[49] - The Southeast segment experienced a 12.1% increase in revenue to $159,970 thousand, with home deliveries rising by 10.9% to 304 homes[49] - The West segment reported a 2.2% decrease in revenue to $676,484 thousand, with home deliveries declining by 5.0% to 1,362 homes[49] Joint Ventures - Income from unconsolidated joint ventures for the three months ended April 30, 2025, was $9.0 million, down 19.0% from $11.2 million in the same period of 2024[25] - The company reports its proportionate share of income or loss from unconsolidated homebuilding and land development joint ventures as a separate line item in consolidated financial statements[61] - Overall, the unconsolidated joint ventures (excluding KSA JV) reported a 7.2% decrease in home deliveries to 231 units, with contract dollars down by 14.8% to $149.5 million[58]

Financial Performance - Total revenues decreased 3.1% to $686.5 million in Q2 FY2025 compared to $708.4 million in Q2 FY2024, while total revenues for the first half increased 4.4% to $1.36 billion[4]. - Net income for Q2 FY2025 was $19.7 million, or $2.43 per diluted common share, compared to $50.8 million, or $6.66 per diluted common share in Q2 FY2024[6]. - Adjusted EBITDA for the three months ended April 30, 2025, was $61.3 million, a decrease from $102.2 million in the same period of 2024[29]. - Income before income taxes for the three months ended April 30, 2025, was $26,530,000, a significant decrease of 61.8% compared to $69,392,000 in 2024[42]. - The net income available to common stockholders for the three months ended April 30, 2025, was $17,057,000, a decline of 64.6% from $48,167,000 in the same period of 2024[42]. Homebuilding Metrics - Homebuilding gross margin percentage after cost of sales interest expense and land charges was 13.8% in Q2 FY2025, down from 19.5% in Q2 FY2024[4]. - Consolidated contracts decreased 7.5% to 1,398 homes valued at $706.6 million in Q2 FY2025 compared to 1,512 homes valued at $785.8 million in Q2 FY2024[6]. - Home deliveries for the three months ended April 30, 2025, totaled 1,398 units, a decrease of 7.5% from 1,512 units in 2024[44]. - Total home deliveries decreased by 1.4% to 2,603 homes compared to 2,639 homes in the previous year[49]. - The company’s backlog as of April 30, 2025, was 1,711 homes, reflecting a decrease of 15.2% from 2,018 homes in 2024[44]. Revenue and Sales Trends - Home sales revenue decreased to $650,314,000 for the three months ended April 30, 2025, down 5.3% from $686,929,000 in 2024[42]. - Consolidated total revenue from home sales was $1,349,886 thousand, a decline of 4.3% from $1,410,162 thousand[49]. - The average price of homes sold decreased by 3.7% to $525,535 for the three months ended April 30, 2025, compared to $545,825 in 2024[44]. - The average price of homes in the West region increased by 2.3% to $492,431 for the three months ended April 30, 2025, compared to $481,569 in 2024[44]. - The average home price decreased by 3.0% to $518,589 thousand from $534,355 thousand[49]. Liquidity and Financial Position - Total liquidity as of April 30, 2025, was $202.4 million, within the targeted range of $170 million to $245 million[13]. - Cash and cash equivalents decreased to $73,980,000 from $209,976,000 as of October 31, 2024, a decline of approximately 64.7%[40]. - Total assets decreased to $2,553,099,000 as of April 30, 2025, from $2,605,574,000 as of October 31, 2024, a reduction of approximately 2.0%[40]. - The total liabilities decreased to $1,732,729,000 as of April 30, 2025, from $1,805,225,000 as of October 31, 2024, reflecting a decrease of about 4.0%[40]. Future Outlook and Strategic Initiatives - The company expects total revenues for Q3 FY2025 to be between $750 million and $850 million, with adjusted homebuilding gross margin between 17.0% and 18.0%[9]. - The company anticipates challenges due to economic conditions, including inflation and supply chain issues, which may impact future performance[23]. - Future outlook includes continued focus on joint ventures and market expansion strategies to enhance revenue growth[49]. Joint Ventures and Segment Performance - Income from unconsolidated joint ventures for the three months ended April 30, 2025, was $9.0 million, down from $11.2 million in the same period of 2024[25]. - The KSA joint venture reported a significant increase in home deliveries to 293 homes, up 196.0%, with revenue rising to $74,932 thousand, a 252.8% increase[49]. - Overall, the unconsolidated joint ventures (excluding KSA JV) reported a 7.2% decrease in home deliveries to 231 homes, with contract dollars down 14.8% to $149.5 million[58]. - The company reclassified 86 homes and $70.1 million of contract backlog from the Northeast segment to unconsolidated joint ventures, indicating strategic adjustments in asset management[56].

Business Segments - FOXO Technologies Inc. operates in two reportable business segments: Healthcare and Labs and Life, with a focus on behavioral health services and epigenetic diagnostics [205]. - The company finalized the acquisition of Myrtle and RCHI in 2024, expecting these businesses to produce a small cash flow surplus through 2025 [261]. Acquisitions - The company completed the acquisition of Myrtle for $0.5 million, which included a $0.3 million non-interest bearing note payable and 102,363 shares of Class A Common Stock [211]. - The company acquired RCHI and its subsidiary SCCH, with a senior secured note issued for $22.0 million, maturing on September 10, 2026, and accruing interest at rates of 8% to 20% [216][217]. - Myrtle's alcohol and drug treatment facility began operations on August 14, 2023, offering services for up to 30 patients, and expanded to include a Nonresidential Office-Based Opiate Treatment Facility on November 1, 2023 [213][224]. - The company plans to expand Myrtle's business model by acquiring additional facilities and replicating the model in other rural areas [224]. Financial Performance - Net revenues for the three months ended March 31, 2025, were $3.2 million, a significant increase from $7,180 for the same period in 2024, with contributions of $0.5 million from Myrtle and $2.7 million from RCHI [234]. - Direct costs of revenues were $1.9 million for the three months ended March 31, 2025, with no direct costs reported for the same period in 2024, attributed to the acquisitions of Myrtle and RCHI [235]. - Research and development expenses decreased to $30,000 for the three months ended March 31, 2025, from $165,360 in the same period of 2024, reflecting the cessation of ongoing projects [236]. - Selling, general and administrative expenses rose to $2.8 million for the three months ended March 31, 2025, compared to $1.0 million in 2024, primarily due to expenses from the acquired companies [238]. - The net loss attributable to FOXO was $0.6 million for the three months ended March 31, 2025, an improvement from a loss of $1.5 million in 2024, mainly due to a gain from extinguishment of Senior PIK Notes [243]. - The company recorded a gain of $1.9 million from the extinguishment of $5.4 million of Senior PIK Notes during the three months ended March 31, 2025 [240]. - Total revenues for the healthcare segment were $3.2 million for the three months ended March 31, 2025, with a segment loss of $0.8 million [245]. - Labs and Life segment revenues increased by 18.23% to $8,489 for the three months ended March 31, 2025, compared to $7,180 in 2024 [248]. Cash Flow and Capital - As of March 31, 2025, the company had cash and cash equivalents of $16,907, a decrease of $51,361 from $68,268 as of December 31, 2024 [266]. - For the three months ended March 31, 2025, the company incurred a net loss of $1.1 million, an improvement from a net loss of $2.2 million for the same period in 2024 [250]. - The working capital deficit improved to $25.5 million as of March 31, 2025, compared to $29.8 million as of December 31, 2024, reflecting a change of $4.4 million [266]. - Total debt, net of discounts, decreased to $6.0 million as of March 31, 2025, down from $10.2 million as of December 31, 2024, a reduction of $4.2 million [266]. - Net cash used in operating activities for the three months ended March 31, 2025, was $1.3 million, compared to $0.4 million for the same period in 2024, indicating an increase in cash used by $0.9 million [268]. - The company raised $1.3 million from financing activities during the three months ended March 31, 2025, compared to $0.4 million in the same period of 2024 [270]. - The company expects to incur additional losses in future periods and requires additional capital to fund its operations [250]. Revenue Recognition and Accounting - Estimated contractual allowances and implicit price concessions of $17.5 million were recorded as reductions to revenues for the three months ended March 31, 2025 [283]. - After accounting for estimated contractual allowances and implicit price concessions, the healthcare segment recorded net revenues of $3.2 million for the three months ended March 31, 2025 [283]. - The healthcare segment's primary source of operating cash is the collection of outstanding receivables, which is critical to its operating performance [281]. - The performance obligations for inpatient services are generally satisfied over periods averaging approximately 7 to 28 days, while outpatient services are satisfied in less than one day [278]. - The healthcare segment's revenues are based on estimated amounts expected to be received from third-party payers and patients, influenced by Medicare and Medicaid rates [279]. - The company does not present "allowances for doubtful accounts" on its balance sheets; accounts receivable are reported at realizable value, net of estimated contractual allowances [282]. - The company assesses going concern uncertainty quarterly, considering cash and working capital to operate for at least one year from the issuance date of consolidated financial statements [286]. Future Plans and Developments - The company entered into a KR8 Agreement to develop a Direct-to-Consumer APP utilizing AI Machine Learning technology, effective January 12, 2024 [231]. - The company plans to adopt ASU 2023-09 effective January 1, 2025, which requires enhanced annual disclosures for specific categories in income tax disclosures [287].

Financial Performance - Gross margin percentage increased by 1.8% year-over-year to 9.8% in 2024 from 7.9% in 2023 due to more profitable routes and operational efficiency improvements[7] - Cash flow from operations improved by $1.6 million year-over-year to -$4.2 million from -$5.8 million in 2023, driven by better margins and working capital management[7] - Net loss improved by $3.7 million year-over-year to -$5.6 million in 2024 from -$9.3 million in 2023, despite lower revenue, due to higher gross margins and lower operating expenses[7] - Revenue for 2024 was reported at $13.73 million, down from $17.06 million in 2023[11] - Net loss for 2024 was $5,601,227, an improvement from a net loss of $9,327,606 in 2023, representing a reduction of approximately 40%[17] Assets and Liabilities - Total assets decreased to $5.69 million in 2024 from $10.04 million in 2023[13] - Total liabilities decreased to $6.35 million in 2024 from $7.41 million in 2023[13] Cash Flow and Financing - Cash used in operating activities decreased to $4,206,168 in 2024 from $5,790,684 in 2023, indicating a 27% improvement[17] - Cash and cash equivalents at the end of the period dropped to $204,032 from $1,560,105, reflecting a decrease of approximately 87%[17] - Net cash provided by financing activities was $4,242,023 in 2024, down from $6,800,722 in 2023, a decline of about 38%[17] - The company reported a gain from extinguishment of debt amounting to $1,607,766 in 2024[17] - Proceeds from issuance of common stock from ATM Offering amounted to $3,079,016 in 2024[17] Operational Highlights - Fr8Fleet, the dedicated capacity service, achieved 42% year-over-year revenue growth[3] - The company launched Waavely, an ocean freight booking and management platform, in July 2024, and Fleet Rocket, a Transportation Management System, in February 2025[2][3] - Customer satisfaction survey indicated a response rate of over 80%, with average scores greater than four out of five[3] - The company expects to continue improving financial results in 2025, focusing on software offerings and AI-powered solutions[5] Expenses and Costs - Depreciation and amortization increased to $430,414 in 2024 from $404,598 in 2023, a rise of about 6%[17] - Share-based compensation decreased to $981,023 in 2024 from $1,153,787 in 2023, a reduction of approximately 15%[17] - Accounts receivable increased significantly to $1,120,176 in 2024 from $45,383 in 2023, indicating a substantial growth[17] - The company capitalized software development costs of $336,153 in 2024, slightly up from $328,645 in 2023[17]

Financial Performance - The Company recorded a net loss of $89,624 for the three months ended March 31, 2025, consisting of operating costs of $355,862 and interest expense of $1,125, partially offset by investment income of $267,363[137]. - The Company recorded a net income of $357,077 for the three months ended March 31, 2024, primarily from investment income of $735,578[138]. - The Company has not generated any revenues to date and will only generate non-operating income after the completion of its Business Combination[136]. - Interest expenses under the promissory note to third parties were recorded at $1,125 for the three months ended March 31, 2025[147]. Cash and Working Capital - As of March 31, 2025, the Company had cash of $17,229 and a working capital deficit of $3,214,910[139]. - The Company borrowed $241,112 under Working Capital Loans as of March 31, 2025, which are included in convertible promissory notes[141]. - The Company borrowed a total of $841,112 from the Chief Financial Officer in the form of convertible promissory notes, which are repayable upon the consummation of the Business Combination[143]. - The CFO also paid $144,060 to third-party vendors for working capital purposes, which are unsecured and due on demand[144]. - From July 2024 to March 2025, the Company borrowed a total of $975,000 from Tianji and its subsidiaries, with an additional $100,000 received after March 31, 2025, bringing the total to $1,075,000 due to third parties[145]. Business Combination and Acquisition Plans - The Company entered into a merger agreement on January 26, 2025, with Tianji Tire Global (Cayman) Limited, involving a total merger consideration of $450,000,000[131][133]. - The Company has incurred significant costs in pursuit of its acquisition plans and cannot assure the success of completing a Business Combination[116]. - The Company has incurred significant costs related to financing and acquisition plans, raising concerns about its ability to continue as a going concern if the Initial Business Combination is not completed by August 12, 2025[148]. - The Company has the right to extend the Termination Date of its Business Combination up to ten additional times by depositing $75,000 per month, with a current outstanding requirement of $600,000 for extensions[120]. Compliance and Regulatory Matters - The Company received a delisting determination letter from Nasdaq on April 23, 2024, but subsequently paid the outstanding fee to regain compliance[121]. - There are no off-balance sheet arrangements or long-term liabilities as of March 31, 2025[149][150]. - The underwriter is entitled to a deferred fee of $2,587,499, which will be revised to $750,000 in cash and 200,000 shares upon the closing of the Business Combination[150]. Management and Operations - Management does not anticipate any material effects from recently issued accounting pronouncements on the financial statements[152]. - The Company has conducted no operations to date, resulting in no unaudited quarterly operating data being included in the report[153].

Financial Performance - The Company recorded a net loss of $89,624 for the three months ended March 31, 2025, consisting of operating costs of $355,862 and interest expense of $1,125, partially offset by investment income of $267,363 [137]. - For the three months ended March 31, 2024, the Company had a net income of $357,077, primarily from investment income of $735,578, offset by operating costs of $49,800 and a loss on modification of deferred underwriter commission of $378,501 [138]. Cash and Working Capital - As of March 31, 2025, the Company had cash of $17,229 and a working capital deficit of $3,214,910 [139]. Borrowings and Debt - The Company has borrowed $775,000 from a subsidiary of Tianji from July 2024 to December 2024, and an additional $300,000 from Tianji and its subsidiaries from January 2025 to April 2025, all of which are unsecured and non-interest bearing [128]. - The Company borrowed a total of $841,112 from the Chief Financial Officer in the form of convertible promissory notes, which are repayable upon the consummation of the Business Combination [143]. - The CFO also paid $144,060 to third-party vendors for working capital, which is due on demand [144]. - From July 2024 to March 2025, the Company borrowed a total of $975,000 from Tianji and its subsidiaries, with an additional $100,000 received after March 31, 2025, bringing the total due to third parties to $1,075,000 [145]. - The Company issued a promissory note for $300,000 with an annual interest rate of 9.127%, of which $50,000 remained unpaid as of March 31, 2025 [146]. - Interest expenses under the promissory note for the three months ended March 31, 2025, were recorded at $1,125, with total outstanding amounts of $55,789 [147]. Acquisition Plans - The Company entered into a merger agreement on January 26, 2025, with Tianji Tire Global (Cayman) Limited, involving a total merger consideration of $450,000,000 [131][133]. - The Company has incurred significant costs in pursuit of its acquisition plans and cannot assure the success of completing a Business Combination [116]. - The Company has incurred significant costs related to financing and acquisition plans, raising concerns about its ability to continue as a going concern if the Initial Business Combination is not completed by August 12, 2025 [148]. Shareholder Actions - 2,903,151 ordinary shares were tendered for redemption during the extraordinary general meeting on August 12, 2024, leaving 2,224,131 ordinary shares still subject to redemption [119]. Financial Obligations - The underwriter is entitled to a deferred fee of $2,587,499, which will be revised to $750,000 in cash and 200,000 shares upon the closing of the Business Combination [150]. Accounting and Estimates - As of March 31, 2025, there were no critical accounting estimates affecting the financial statements [151]. - Management does not anticipate that any recently issued accounting pronouncements will materially affect the Company's financial statements [152]. Business Combination Timeline - The Company has the right to extend the Termination Date of its Business Combination up to ten additional times by depositing $75,000 per month, with the current Termination Date extended to October 12, 2024 [120]. - At the effective time of the Acquisition Merger, each Tianji Class A ordinary share will be converted into the right to receive one Reincorporation Merger Surviving Corporation Class A ordinary share [132]. Off-Balance Sheet Arrangements - There are no off-balance sheet arrangements or long-term liabilities as of March 31, 2025 [149].

Financial Performance - For Q1 2025, net revenue was $1.4 million, down from $2.4 million in Q1 2024, primarily due to a $1.0 million decrease in consumer products revenue[18]. - Revenues for the three months ended March 31, 2025, were $1,431 million, down 39.2% from $2,356 million for the same period in 2024[32]. - The company reported a net income of $3,966 million for the three months ended March 31, 2025, compared to a net loss of $6,265 million in the same period of 2024[32]. - Net loss from continuing operations for Q1 2025 was $4.7 million, or $(0.13) per share, compared to a net loss of $5.5 million, or $(0.32) per share, in Q1 2024[23]. - Adjusted EBITDA from continuing operations improved to a loss of $1,614 million for Q1 2025, compared to a loss of $4,286 million in Q1 2024[40]. Cost Management - General and administration expenses decreased to $4.1 million in Q1 2025 from $7.3 million in Q1 2024, reflecting a reduction of $3.2 million[21]. - Research and development costs were $97,000 in Q1 2025, down from $272,000 in Q1 2024, a decrease of $175,000[22]. - The company has significantly reduced its workforce from 96 employees in December 2024 to 25 full-time employees currently, aiming to streamline operations and reduce overhead costs[4]. Asset and Equity Changes - Total stockholders' equity increased to $15.1 million as of March 31, 2025, up from $7.4 million at December 31, 2024[24]. - Total assets decreased from $63,200 million as of December 31, 2024, to $50,111 million as of March 31, 2025, representing a decline of approximately 20.7%[30]. - Total current liabilities decreased from $32,134 million as of December 31, 2024, to $24,052 million as of March 31, 2025, a reduction of about 25.3%[30]. Cash Flow and Debt - Cash and cash equivalents decreased from $1,175 million at the end of Q1 2024 to $88 million at the end of Q1 2025, a decline of approximately 92.5%[34]. - The company incurred a debt extinguishment loss of $431 million in Q1 2025, which was not present in Q1 2024[32]. - The company reported cash paid for income taxes of $256 million in Q1 2025, compared to $318 million in Q1 2024, indicating a decrease of approximately 19.5%[35]. Future Prospects - The company anticipates a potential recovery of approximately $50 million in insurance payments through Crown Medical Collections, which could provide significant cash flow in the second half of 2025[9][10]. - ProPhase is pursuing the sale of its subsidiary Nebula Genomics, with expectations of receiving letters of intent in the coming weeks and a potential sale within 3-4 months[7]. - The BE-Smart Esophageal Cancer Test is nearing commercialization, with a recent submission for peer review highlighting its potential to improve clinical testing for esophageal disease[11][13]. Profitability Metrics - Gross margin profit for Q1 2025 was $0.5 million, compared to a gross margin loss of $0.1 million in Q1 2024, resulting in an overall gross margin of 36.8% versus (2.5)%[20]. - Gross profit for the first quarter of 2025 was $526 million, compared to a gross loss of $60 million in the same quarter of 2024, indicating a significant improvement[32]. - Weighted average common shares outstanding increased from 17,207 million in Q1 2024 to 35,233 million in Q1 2025, reflecting a significant increase in share issuance[32].

Financial Performance - Total net revenues for Q1 2025 were RMB947.1 million (US$130.5 million), a decrease of 8.9% from RMB1,039.7 million in Q1 2024[5] - Gross profit increased by 4.1% to RMB113.5 million (US$15.6 million), with a gross margin of 12.0%, up from 10.5% in the same period last year[17] - Loss from operations was reduced by 84.3% to RMB26.1 million (US$3.6 million) compared to RMB166.9 million in Q1 2024[19] - Net loss decreased by 9.5% to RMB79.6 million (US$11.0 million) from RMB88.0 million in the same period last year[20] - Adjusted net loss (non-GAAP) was RMB20.9 million (US$2.9 million), down 75.6% from RMB85.7 million in Q1 2024[20] User Engagement - Average mobile MAUs were 41.4 million, down 8.7% year-over-year, attributed to fewer official tournament broadcasts[15] - Livestreaming revenues decreased by 29.5% to RMB564.5 million (US$77.8 million) due to a decline in paying users and average revenue per paying user[8] Revenue Streams - Revenues from innovative business, advertising, and others increased by 60.2% to RMB382.6 million (US$52.7 million), driven by voice-based social networking and game membership services[9] Cash and Assets - Cash and cash equivalents as of March 31, 2025, were RMB2,308.8 million (US$318.2 million), down from RMB4,467.8 million as of December 31, 2024, primarily due to a US$300 million special cash dividend[22] - As of March 31, 2025, total assets amounted to RMB 3,202,082, a decrease from RMB 5,446,333 as of December 31, 2024[31] - Cash and cash equivalents increased to RMB 1,852,492 as of March 31, 2025, from RMB 1,017,148 as of December 31, 2024[31] Expenses - Research and development expenses decreased by 39.5% to RMB32.7 million (US$4.5 million) from RMB54.2 million in Q1 2024, mainly due to reduced staff-related expenses[18] - Research and development expenses for the three months ended March 31, 2025, were RMB 32,749, down from RMB 54,150 in the same period of 2024[33] Shareholder Equity - The company’s accumulated deficit as of March 31, 2025, was RMB (3,871,429), an increase from RMB (3,791,817) as of December 31, 2024[32] - The total shareholders' equity as of March 31, 2025, was RMB 1,971,651, a significant decrease from RMB 4,210,089 as of December 31, 2024[32]

Financial Performance - Record annual revenue of $2.3 billion, up slightly from the prior year[4] - Net earnings of $463.4 million, down 3%, with record net earnings per diluted share of $13.77, up 1%[4] - Adjusted EBITDA of $816.7 million, down 2%[4] - Fourth quarter revenue of $470.2 million, down 1%, with net earnings of $66.5 million, down 14%[4] - Fiscal 2025 revenue in the Heavy Materials sector down 2% to $1.4 billion, with operating earnings decreasing 11% to $310.7 million[9] - Fiscal 2025 revenue in the Light Materials sector increased 3% to $969.2 million, driven by higher sales volume and prices[16] - Total revenue for the quarter ended March 31, 2025, was $470.175 million, a decrease of 1.1% from $476.707 million in the same quarter of 2024[30] - Net earnings for the quarter were $66.480 million, down 13.7% from $77.099 million year-over-year[30] - The company reported a gross profit of $104.612 million for the quarter, compared to $119.680 million in the prior year, reflecting a decrease of 12.6%[30] - The total revenue for the fiscal year ended March 31, 2025, was $2.260 billion, slightly up from $2.259 billion in the previous fiscal year[30] - Adjusted EBITDA for the fiscal year ended March 31, 2025, was $816,674,000, down from $834,494,000 in 2024, a decrease of 2.1%[41] Investments and Acquisitions - Completed acquisitions of two aggregates businesses for a combined investment of $175 million[6] - Announced a $330 million investment to modernize and expand the Duke, OK Gypsum Wallboard plant, expected to increase capacity by 300 million square feet (25%)[6] Expenses and Costs - Corporate General and Administrative Expenses increased by approximately 24% due to higher IT spending and acquisition-related costs[20] - The company’s corporate general and administrative expenses increased to $19.596 million for the quarter, compared to $17.339 million in the same quarter of 2024[32] - The company incurred $3,359,000 in acquisition accounting and related expenses for the quarter ended March 31, 2025[40] Debt and Leverage - Maintained a net leverage ratio of 1.5x, ending the year with debt of $1.2 billion[5] - Total debt, excluding debt issuance costs, rose to $1,246,250,000 in 2025 from $1,102,500,000 in 2024, an increase of 13.1%[43] - Net Debt to Adjusted EBITDA ratio increased to 1.5x in 2025 from 1.3x in 2024, indicating a higher leverage position[43] Sales and Pricing - The average net sales price for cement increased by 2% to $157.62 per ton compared to $154.59 per ton in the previous year[34] - Cement sales volume decreased by 5% to 1.081 million tons for the quarter, while the total sales volume for the fiscal year decreased by 6% to 6.237 million tons[34] - Revenue from recycled paperboard increased by 9% year-over-year to $604.02 per ton for the fiscal year ended March 31, 2025[34] Assets and Equity - Total current assets increased to $668,657,000 in 2025 from $627,693,000 in 2024, representing a growth of 6.5%[36] - The company reported a total stockholders' equity of $1,456,700,000 in 2025, up from $1,308,535,000 in 2024, an increase of 11.3%[36] Cash Flow - Cash and cash equivalents decreased to $20,401,000 in 2025 from $34,925,000 in 2024, a decline of 41.5%[43] Depreciation and Amortization - Depreciation, depletion, and amortization for the quarter ended March 31, 2025, totaled $42,241,000, an increase from $38,485,000 in 2024, reflecting a rise of 9.2%[38] Interest Expense - The company’s interest expense for the fiscal year was $40.526 million, down from $42.257 million in the previous year[30] Earnings Per Share - Adjusted net earnings per diluted share (Adjusted EPS) for the fiscal year ended March 31, 2025, was $13.94, slightly up from $13.71 in 2024, an increase of 1.7%[40]

Exhibit 99.1 Trip.com Group Limited Reports Unaudited First Quarter of 2025 Financial Results SINGAPORE, May 19, 2025 — Trip.com Group Limited (Nasdaq: TCOM; HKEX: 9961) ("Trip.com Group" or the "Company"), a leading global one-stop travel service provider of accommodation reservation, transportation ticketing, packaged tours, and corporate travel management, today announced its unaudited financial results for the first quarter of 2025. First Quarter of 2025 Financial Results and Business Updates For the fi ...