Exhibit 99.1 Media Contact: Emily Karpenske | Senior Communication Specialist Emily.Karpenske@bwbmn.com | 952.653.0624 Investor Contact: Justin Horstman | VP Investor Relations Justin.Horstman@bwbmn.com | 952.542.5169 October 21, 2025 Bridgewater Bancshares, Inc. Announces Third Quarter 2025 Financial Results Third Quarter 2025 Highlights (1) Represents a non-GAAP financial measure. See "Non-GAAP Financial Measures" for further details. (2) Core deposits are defined as total deposits less brokered deposits ...

NOG Provides Third Quarter Update Acquires Core Uinta Basin Royalty and Minerals Bolt-on with Significant Inventory; Executes on Additional Ground Game; Well Performance Driving Increased Production Guidance MINNEAPOLIS—(BUSINESS WIRE)—Northern Oil and Gas, Inc. (NYSE: NOG) ("NOG" or the "Company") today provided an update on a number of business matters, including a recent bolt-on acquisition, an update on ground game transactions, capital expenditure and production guidance and other third quarter informa ...

CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): October 21, 2025 AST SpaceMobile, Inc. (Exact name of registrant as specified in its charter) | Delaware | 001-39040 | 84-2027232 | | --- | --- | --- | | (State or Other Jurisdiction | (Commission | (IRS Employer | | of Incorporation) | File Number) | Identification No.) | | Midland International Air & Space Port | | | | 2901 Enterprise Lane | | | | Midland, Texas | | 79706 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): October 21, 2025 Bolt Projects Holdings, Inc. (Exact name of registrant as specified in its charter) | Delaware | 001-40223 | 86-1256660 | | --- | --- | --- | | (State or other jurisdiction | (Commission File Number) | (I.R.S. Employer | | of incorporation) | | Identification No.) | | 2261 Mark ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): October 21, 2025 Bolt Projects Holdings, Inc. (Exact name of registrant as specified in its charter) | Delaware | 001-40223 | 86-1256660 | | --- | --- | --- | | (State or other jurisdiction | (Commission File Number) | (I.R.S. Employer | | of incorporation) | | Identification No.) | | 2261 Mark ...

[Third Quarter 2025 Financial Highlights](index=1&type=section&id=1.%20Third%20Quarter%202025%20Financial%20Highlights) Vicor reported increased Q3 2025 revenues, improved gross margin, and significant net income growth, supported by strong operational cash flow [Key Financial Results](index=1&type=section&id=1.1.%20Key%20Financial%20Results) Vicor Corporation reported Q3 2025 product revenues and licensing income of **$110.4 million**, an **18.5%** YoY increase, with gross margin at **57.5%** and net income of **$28.3 million** Total Product Revenues and Licensing Income | Metric | Q3 2025 (in millions) | Q3 2024 (in millions) | YoY Change | Q2 2025 (in millions) | QoQ Change | | :----- | :------ | :------ | :--------- | :------ | :--------- | | Total Product Revenues & Licensing Income | $110.4 | $93.2 | +18.5% | $141.0 | -21.7% | Gross Margin Performance | Metric | Q3 2025 (in millions) | Q3 2024 (in millions) | YoY Change | Q2 2025 (in millions) | QoQ Change | | :----- | :------ | :------ | :--------- | :------ | :--------- | | Gross Margin (absolute) | $63.5 | $45.7 | +38.9% | $92.1 | -31.0% | | Gross Margin (% of revenue) | 57.5% | 49.1% | +8.4 pp | 65.3% | -7.8 pp | Operating Expenses | Metric | Q3 2025 (in millions) | Q3 2024 (in millions) | YoY Change | Q2 2025 (in millions) | QoQ Change | | :----- | :------ | :------ | :--------- | :------ | :--------- | | Operating Expenses | $42.6 | $40.4 | +5.4% | $46.7 | -8.8% | Net Income and Diluted EPS | Metric | Q3 2025 (in millions, except EPS) | Q3 2024 (in millions, except EPS) | YoY Change | Q2 2025 (in millions, except EPS) | QoQ Change | | :----- | :------ | :------ | :--------- | :------ | :--------- | | Net Income | $28.3 | $11.6 | +144.0% | $41.2 | -31.3% | | Diluted EPS | $0.63 | $0.26 | +142.3% | $0.91 | -30.7% | [Operational Metrics](index=1&type=section&id=1.2.%20Operational%20Metrics) Cash flow from operations significantly increased to **$38.5 million**, while capital expenditures decreased, and cash and equivalents grew **7.0%** sequentially Cash Flow from Operations | Metric | Q3 2025 (in millions) | Q3 2024 (in millions) | YoY Change | Q2 2025 (in millions) | QoQ Change | | :----- | :------ | :------ | :--------- | :------ | :--------- | | Cash Flow from Operations | $38.5 | $22.6 | +70.4% | $65.2 | -40.9% | Capital Expenditures | Metric | Q3 2025 (in millions) | Q3 2024 (in millions) | YoY Change | Q2 2025 (in millions) | QoQ Change | | :----- | :------ | :------ | :--------- | :------ | :--------- | | Capital Expenditures | $4.0 | $8.4 | -52.4% | $6.2 | -35.5% | Stock Repurchases | Metric | Q3 2025 (in millions) | Q2 2025 (in millions) | QoQ Change | | :----- | :------ | :------ | :--------- | | Stock Repurchases | $15.6 | $17.5 | -11.0% | Cash and Cash Equivalents | Metric | Sept 30, 2025 (in millions) | June 30, 2025 (in millions) | QoQ Change | | :----- | :------------ | :------------ | :--------- | | Cash and Cash Equivalents | $362.4 | $338.5 | +7.0% | Backlog | Metric | Sept 30, 2025 (in millions) | Sept 30, 2024 (in millions) | YoY Change | June 30, 2025 (in millions) | QoQ Change | | :----- | :------------ | :------------ | :--------- | :------------ | :--------- | | Backlog | $152.8 | $150.6 | +1.5% | $155.2 | -1.5% | [Management's Commentary](index=1&type=section&id=2.%20Management's%20Commentary) CEO highlighted record Q3 licensing revenue from a settlement, anticipating substantial IP licensing growth and improved margins from ChiP foundry utilization - Licensing revenue reached a **record rate in Q3** following the litigation settlement for prior infringement recorded in Q2[7](index=7&type=chunk) - Vicor expects its IP licensing practice to grow substantially as high-density power systems (NBMs and VPD) are critical for high-performance computing, requiring OEMs and hyper-scalers to obtain or renew licenses[7](index=7&type=chunk) - The company's high-density power module business leverages its first ChiP foundry, which delivers **98% final test yields** and has a capacity exceeding **$1 billion per year**, with higher margins expected from greater absorption of this capacity[7](index=7&type=chunk) [Company Overview](index=2&type=section&id=3.%20Company%20Overview) Vicor Corporation designs and markets modular power components for diverse markets, providing investor information via its website and CFO [About Vicor Corporation](index=2&type=section&id=3.1.%20About%20Vicor%20Corporation) Vicor Corporation specializes in designing, manufacturing, and marketing modular power components and systems for various high-performance markets - Vicor Corporation designs, develops, manufactures, and markets modular power components and complete power systems based on patented technologies[11](index=11&type=chunk) - The company's products are sold to various power systems markets, including enterprise and high-performance computing, industrial equipment and automation, telecommunications and network infrastructure, vehicles and transportation, and aerospace and defense electronics[11](index=11&type=chunk) [Investor Information](index=2&type=section&id=3.2.%20Investor%20Information) Investors can find product information on Vicor's website and contact the Chief Financial Officer for further inquiries - Company website for product information: **www.vicorpower.com**[8](index=8&type=chunk) - Investor contact: James F. Schmidt, Chief Financial Officer, Office: **(978) 470-2900**, Email: **invrel@vicorpower.com**[12](index=12&type=chunk) [Condensed Consolidated Financial Statements](index=3&type=section&id=4.%20Condensed%20Consolidated%20Financial%20Statements) This section presents Vicor Corporation's detailed condensed consolidated statements of operations and balance sheets for the reported periods [Condensed Consolidated Statement of Operations](index=3&type=section&id=4.1.%20Condensed%20Consolidated%20Statement%20of%20Operations) The statement details Q3 and YTD 2025 revenues, costs, and profitability, showing significant increases in net income and EPS YoY Condensed Consolidated Statement of Operations (Thousands except for per share amounts) | | | QUARTER ENDED | | | YEAR ENDED | | | --- | --- | --- | --- | --- | --- | --- | | | | (Unaudited) | | | (Unaudited) | | | | SEPT 30, | | SEPT 30, | | SEPT 30, | SEPT 30, | | | 2025 | | 2024 | | 2025 | 2024 | | Product revenue | $ 88,698 | | $79,796 | | $257,597 | $ 232,071 | | Royalty revenue | 21,725 | | 13,370 | | 42,840 | 30,821 | | Patent litigation settlement | — | | — | | 45,000 | — | | Total product revenue, royalty revenue and patent litigation settlement | 110,423 | | 93,166 | | 345,437 | 262,892 | | Cost of product revenues | 46,910 | | 47,422 | | 145,431 | 129,254 | | Gross margin | 63,513 | | 45,744 | | 200,006 | 133,638 | | Operating expenses: | | | | | | | | Selling, general and administrative | 22,747 | | 23,398 | | 75,836 | 72,715 | | Research and development | 19,859 | | 16,960 | | 58,027 | 51,938 | | Litigation-contingency expense | — | | — | | — | 19,500 | | Total operating expenses | 42,606 | | 40,358 | | 133,863 | 144,153 | | Income (loss) from operations | 20,907 | | 5,386 | | 66,143 | (10,515) | | Other income (expense), net | 2,407 | | 3,713 | | 9,198 | 9,244 | | Income (loss) before income taxes | 23,314 | | 9,099 | | 75,341 | (1,271) | | Less: (Benefit) provision for income taxes | (4,988) | | (2,455) | | 3,278 | 2,832 | | Consolidated net income (loss) | 28,302 | | 11,554 | | 72,063 | (4,103) | | Less: Net income attributable to noncontrolling interest | 10 | | 2 | | 40 | 14 | | Net income (loss) attributable to Vicor Corporation | $ 28,292 | | $11,552 | | $ 72,023 | ($ 4,117) | | Net income (loss) per share attributable to Vicor Corporation: | | | | | | | | Basic | $ 0.63 | | $ 0.26 | $ | 1.60 | ($ 0.09) | | Diluted | $ 0.63 | | $ 0.26 | $ | 1.59 | ($ 0.09) | | Shares outstanding: | | | | | | | | Basic | 44,734 | | 45,117 | | 44,986 | 44,829 | | Diluted | 44,930 | | 45,174 | | 45,167 | 44,829 | [Condensed Consolidated Balance Sheet](index=4&type=section&id=4.2.%20Condensed%20Consolidated%20Balance%20Sheet) The balance sheet presents Vicor Corporation's financial position as of September 30, 2025, showing increased total assets and stockholders' equity Condensed Consolidated Balance Sheet (Thousands) | | SEPT 30. | DEC 31. | | --- | --- | --- | | | 2025 (Unaudited) | 2024 (Unaudited) | | Assets | | | | Current assets: | | | | Cash and cash equivalents | $ 362,382 | $ 277,273 | | Accounts receivable, net | 53,252 | 52,948 | | Inventories | 92,294 | 106,032 | | Other current assets | 25,985 | 26,781 | | Total current assets | 533,913 | 463,034 | | Long-term deferred tax assets | 275 | 261 | | Long-term investment, net | 2,406 | 2,641 | | Property, plant and equipment, net | 152,526 | 152,705 | | Other assets | 21,127 | 22,477 | | Total assets | $ 710,247 | $ 641,118 | | Liabilities and Equity | | | | Current liabilities: | | | | Accounts payable | 15,391 | 8,737 | | Accrued compensation and benefits | 13,438 | 10,852 | | Accrued expenses | 5,437 | 6,589 | | Accrued litigation | 27,919 | 26,888 | | Sales allowances | 2,569 | 1,667 | | Short-term lease liabilities | 1,584 | 1,716 | | Income taxes payable | 154 | 0 | | Short-term deferred revenue and customer prepayments | 4,197 | 5,312 | | Total current liabilities | 70,689 | 61,820 | | Long-term income taxes payable | 3,430 | 3,387 | | Long-term lease liabilities | 5,775 | 5,620 | | Total liabilities | 79,894 | 70,827 | | Equity: | | | | Vicor Corporation stockholders' equity: | | | | Capital stock | 429,542 | 408,187 | | Retained earnings | 374,826 | 302,803 | | Accumulated other comprehensive loss | (1,561) | (1,495) | | Treasury stock | (172,728) | (139,424) | | Total Vicor Corporation stockholders' equity | 630,079 | 570,071 | | Noncontrolling interest | 274 | 220 | | Total equity | 630,353 | 570,291 | | Total liabilities and equity | $ 710,247 | $ 641,118 | [Additional Disclosures](index=2&type=section&id=5.%20Additional%20Disclosures) This section provides details on the upcoming earnings conference call and important forward-looking statement disclaimers [Earnings Conference Call](index=2&type=section&id=5.1.%20Earnings%20Conference%20Call) Vicor will host an investor conference call on October 21, 2025, to discuss Q3 results, requiring registration for participants - Date and Time: **Tuesday, October 21, 2025, at 5:00 p.m. Eastern Time**[9](index=9&type=chunk) - Registration is required for participants intending to ask questions, providing dial-in info and a unique PIN[9](index=9&type=chunk) - A listen-only webcast will be available on the Investor Relations page of Vicor's website, with a replay also accessible after the live call[9](index=9&type=chunk) [Forward-Looking Statements](index=2&type=section&id=5.2.%20Forward-Looking%20Statements) This press release contains forward-looking statements subject to risks and uncertainties, with actual results potentially differing materially from projections - The press release contains forward-looking statements identified by words like 'expects,' 'anticipates,' and 'plans,' covering aspects such as revenue, profitability, and manufacturing capacity[10](index=10&type=chunk) - Actual results may differ materially due to various economic, business, operational, and financial factors, as detailed in Vicor's Form 10-K and other SEC filings[10](index=10&type=chunk) - Vicor does not undertake any obligation to update any forward-looking statements as a result of future events or developments[10](index=10&type=chunk)

Chubb Limited Financial Supplement for the Quarter Ended September 30, 2025 Investor Contact Karen Beyer: (212) 827-4445 email: investorrelations@chubb.com This report is for informational purposes only. It should be read in conjunction with documents filed by Chubb Limited with the Securities and Exchange Commission, including the most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Cautionary Statement Regarding Forward-Looking Statements Any forward-looking statements made in this f ...

[Executive Summary](index=1&type=section&id=Executive%20Summary) This section summarizes Matador's Q3 2025 financial and operational performance, highlighting management's positive outlook and key achievements [Management Commentary](index=1&type=section&id=Management%20Summary%20Comments) Matador's CEO highlighted significant dividend increases, a share repurchase program, and improved company rankings, reflecting strong financial health and positive outlook - Matador's Board increased the annual cash dividend from **$1.25 to $1.50 per share**, marking the seventh raise in four years, supported by strong liquidity and free cash flow[3](index=3&type=chunk) - As of October 21, 2025, Matador repurchased **1.3 million shares** for approximately **$55 million** (weighted average price of **$41 per share**), representing over **1% of total outstanding shares**[4](index=4&type=chunk)[21](index=21&type=chunk) - Matador ranked **36th** among DFW's top 150 public companies by 2024 revenue, advancing **11 places**, and became the largest publicly-traded E&P company in DFW by revenue and profitability per employee[4](index=4&type=chunk) [Q3 2025 Financial and Operational Highlights](index=1&type=section&id=Third%20Quarter%202025%20Financial%20and%20Operational%20Highlights) Matador achieved record production, exceeded guidance, reduced drilling costs, and significantly decreased its Reserves-Based Loan balance in Q3 2025 Q3 2025 Production Highlights | Metric | Q3 2025 Actual | Guidance Midpoint (July 2025) | Difference | YoY Gain (Q3 2024) | | :-------------------------------- | :------------- | :---------------------------- | :--------- | :----------------- | | Total BOE per day | 209,184 | 199,750 | +5% | +22% | | Oil production (barrels per day) | 119,556 | 117,250 | +2% | +19% | | Natural gas production (MMcf per day) | 537.8 | 495 | +9% | N/A | - Drilling and completion costs were approximately **$855 per completed lateral foot**, **3% less** than the July 2025 guidance midpoint of **$880**[6](index=6&type=chunk) - Matador reduced its Reserves-Based Loan (RBL) balance by **$105 million**, from **$390 million** to **$285 million** by September 30, 2025[6](index=6&type=chunk)[19](index=19&type=chunk) [Guidance Updates](index=1&type=section&id=Guidance%20Updates) This section details Matador's updated full-year 2025 guidance and provides an outlook for 2026, including production and capital expenditure forecasts [Full-Year 2025 Guidance Update](index=1&type=section&id=Full-Year%202025%20Guidance%20Update) Matador increased full-year 2025 production guidance and capital expenditure estimates due to accelerated operations, while reducing drilling costs per lateral foot Full-Year 2025 Guidance Changes | Metric | Prior Full-Year 2025 Guidance | New Full-Year 2025 Guidance | | :------------------------ | :---------------------------- | :-------------------------- | | Total BOE per day | 200,000 to 205,000 | 205,500 to 206,500 | | Oil (Bbl per day) | 117,500 to 119,500 | 119,250 to 119,750 | | Natural Gas (MMcf per day) | 495 to 513 | 517.5 to 520.5 | | D/C/E CapEx | $1.18 to $1.37 billion | $1.47 to $1.55 billion | | Midstream CapEx | $120 to $180 million | $155 to $175 million | | Total CapEx | $1.30 to $1.55 billion | $1.625 to $1.725 billion | - The number of operated wells expected to be drilled and turned to sales in full-year 2025 increased from **106.3 net operated wells** to **118.3 net operated wells**[11](index=11&type=chunk) - Expected full-year 2025 drilling and completion cost per lateral foot decreased from **$865 to $895** to a lower range of **$835 to $855 per completed lateral foot**[10](index=10&type=chunk)[11](index=11&type=chunk) [2026 Outlook](index=1&type=section&id=2026%20Outlook) Matador anticipates organic production growth of 2-5% in 2026, reaching 210,000 BOE per day, while reducing total capital expenditures by 8-12% - Base case 2026 organic production is expected to be approximately **210,000 BOE per day**, with organic oil production growth of **2 to 5%** from 2025 to 2026 (exclusive of acquisitions)[11](index=11&type=chunk)[13](index=13&type=chunk) - Matador expects an improved capital program for full-year 2026, resulting in **8 to 12% lower total capital expenditures** compared to 2025 for approximately the same lateral footage[11](index=11&type=chunk)[13](index=13&type=chunk) - Key priorities for 2026 include maintaining a strong balance sheet, growing proved reserves, increasing engineered inventory, continuing acreage acquisition, and enhancing midstream businesses[13](index=13&type=chunk) [Operational Review](index=2&type=section&id=Operational%20Review) This section reviews Matador's land program, upstream operations, and midstream business, highlighting strategic acquisitions, production achievements, and infrastructure developments [Land Program](index=2&type=section&id=Matador%27s%20Land%20Program) Matador's 'brick-by-brick' land acquisition strategy in the Delaware Basin secured over 10 years of high-return drilling locations - Matador completed over **$125 million** in land transactions in the Delaware Basin during Q3 2025, primarily acquiring undeveloped acreage and working interests[7](index=7&type=chunk) - Targeted acquisitions provide Matador with over **10 years of engineered locations**, boasting average rates of return of approximately **50%** even at **$50 per barrel** oil prices[7](index=7&type=chunk) [Upstream Operations](index=2&type=section&id=Upstream%20Operations) Matador's Q3 2025 upstream operations exceeded production guidance, driven by strong well performance, accelerated execution, and improved capital efficiency - Matador exceeded the midpoint of July 2025 guidance for BOE volumes by **5%**, delivering **209,184 BOE per day** in Q3 2025, reflecting strong production and well outperformance[8](index=8&type=chunk) - Q3 2025 production included **1.5 Bcf (17 MMcf per day)** from six non-operated Haynesville Shale wells, highlighting Matador's estimated **200 to 300 Bcf 'gas bank'**[9](index=9&type=chunk)[27](index=27&type=chunk) - Matador's overall completion efficiency increased by **20% in 2025** compared to 2024, driven by reduced drilling days and expanded use of advanced frac operations[12](index=12&type=chunk) - The Gavilon 104H Avalon well, online in September 2024, paid out in approximately **one year**, with cumulative production of **280,000 barrels of oil** and **358 MMcf of natural gas** by September 30, 2025, and over **85 potential future drilling locations**[28](index=28&type=chunk) [Midstream Operations (San Mateo)](index=3&type=section&id=Midstream%20Operations%20(San%20Mateo)) San Mateo, Matador's midstream business, significantly contributed to Q3 2025 revenue and efficiency through new infrastructure and record natural gas processing volumes - During September 2025, San Mateo commissioned the Ranger North Compressor station, designed for **30 MMcf per day** (expandable to **70 MMcf per day**), its first sour gas handling facility, increasing third-party optionality[15](index=15&type=chunk) - The Marlan plant expansion, in service Q2 2025, enabled San Mateo to process a record **533 MMcf per day of natural gas** in Q3 2025, a **10% increase** from Q2 2025[16](index=16&type=chunk) San Mateo Q3 2025 Financials and Throughput Volumes | Metric | Q3 2025 | Q2 2025 | Change (QoQ) | Q3 2024 | Change (YoY) | | :-------------------------------- | :------ | :------ | :----------- | :------ | :----------- | | Net Income (millions) | $50 | N/A | N/A | N/A | N/A | | Adjusted EBITDA (millions) | $74 | N/A | N/A | N/A | N/A | | Natural gas gathering (MMcf per day) | 530 | 491 | +8% | 431 | +23% | | Natural gas processing (MMcf per day) | 533 | 486 | +10% | 424 | +26% | | Oil gathering and transportation (Bbl per day) | 58,400 | 50,300 | +16% | 52,300 | +12% | | Produced water handling (Bbl per day) | 413,700 | 414,400 | —% | 513,200 | -19% | [Financial Performance](index=4&type=section&id=Financial%20Performance) This section reviews Matador's Q3 2025 financial summary, shareholder returns, realized commodity prices, and capital expenditures, highlighting key financial metrics and strategic allocations [Q3 2025 Financial Summary](index=4&type=section&id=Financial%20Summary) Matador reported strong Q3 2025 financial results, including significant net income, increased operating cash flow, and reduced RBL borrowings Q3 2025 Key Financial Metrics | Metric | Q3 2025 | | :-------------------------------- | :-------- | | Net income | $176 million | | Earnings per share | $1.42 | | Adjusted earnings per share | $1.36 | | Net cash provided by operating activities | $722 million | | Adjusted EBITDA | $567 million | | Adjusted free cash flow | $93 million | - Net cash provided by operating activities increased by **44%** from **$501 million** in Q2 2025 to **$722 million** in Q3 2025[18](index=18&type=chunk) - Matador paid down an additional **$105 million** on its RBL in Q3 2025, reducing total borrowings to **$285 million**, maintaining a strong balance sheet with a debt-to-EBITDA leverage ratio under **1.0x** and approximately **$2 billion** in available liquidity[19](index=19&type=chunk) [Shareholder Returns](index=4&type=section&id=Shareholder%20Returns) Matador demonstrated commitment to shareholder returns through a **20%** dividend increase, a share repurchase program, and employee stock purchases - Matador's Board approved a **20% increase** in the dividend policy, raising it from **$1.25 annually ($0.3125 per quarter)** to **$1.50 annually ($0.375 per quarter)**, representing an annualized yield of approximately **3.5%**[20](index=20&type=chunk) - Under its share repurchase authorization, Matador repurchased **$55 million (1.3 million shares)** of common stock at an average price of **$41 per share**, representing over **1% of total outstanding shares**[21](index=21&type=chunk) - Matador's directors and executive officers purchased approximately **67,000 shares** in 2025, with over **95% of employees** participating in the Employee Share Purchase Plan (ESPP)[22](index=22&type=chunk) [Q3 2025 Realized Commodity Prices](index=6&type=section&id=Third%20Quarter%202025%20Realized%20Commodity%20Prices) Matador's Q3 2025 realized oil prices slightly increased sequentially but decreased year-over-year, while natural gas prices declined sequentially but increased year-over-year Realized Commodity Prices | Realized Commodity Prices | Q3 2025 | Q2 2025 | Sequential Change | Q3 2024 | YoY Change | | :------------------------ | :------ | :------ | :---------------- | :------ | :--------- | | Oil Prices, per Bbl | $64.91 | $64.34 | +1% | $75.67 | -14% | | Natural Gas Prices, per Mcf | $1.95 | $2.05 | -5% | $1.83 | +7% | [Q3 2025 Capital Expenditures](index=6&type=section&id=Third%20Quarter%202025%20Capital%20Expenditures) Matador's Q3 2025 D/C/E capital expenditures exceeded guidance due to accelerated operations, while midstream CapEx remained consistent Q3 2025 Capital Expenditures | ($ millions) | Actual | July 2025 Guidance | | :----------- | :----- | :----------------- | | D/C/E | $429.9 | $300 to $370 | | Midstream | $42.8 | $25 to $55 | - D/C/E CapEx was **$95 million** above guidance midpoint, primarily due to accelerating **4.5 net operated wells** turned to sales (**$15 million**), unforecasted non-operated well activity (**$15 million**), increased working interest additions (**$9 million**), and Q4 2025 well costs (**$56 million**)[32](index=32&type=chunk) [Fourth Quarter 2025 Estimates](index=7&type=section&id=Fourth%20Quarter%202025%20Estimates) This section provides Matador's Q4 2025 estimates for production, wells turned to sales, and capital expenditures, outlining expected trends and operational plans [Production Estimates](index=7&type=section&id=Fourth%20Quarter%202025%20Estimated%20Oil%2C%20Natural%20Gas%20and%20Total%20BOE%20Production%20Growth) Matador anticipates increased Q4 2025 oil production from new wells, but decreased natural gas production due to voluntary shut-ins and natural decline Q3 vs. Q4 2025 Production Comparison | Period | Average Daily Total Production (BOE per day) | Average Daily Oil Production (Bbl per day) | Average Daily Natural Gas Production (MMcf per day) | % Oil | | :----- | :--------------------------------------- | :--------------------------------------- | :------------------------------------------ | :---- | | Q3 2025 | 209,184 | 119,556 | 537.8 | 57% | | Q4 2025E | 205,000 to 208,000 | 119,000 to 121,000 | 516 to 522 | 58% | - Natural gas production is expected to decrease in Q4 2025 due to voluntary shut-ins of high natural gas to oil ratio wells (negative Waha prices) and natural decline from six non-operated Haynesville shale wells[37](index=37&type=chunk) [Wells Turned to Sales Estimates](index=7&type=section&id=Fourth%20Quarter%202025%20Estimated%20Wells%20Turned%20to%20Sales) Matador expects to turn to sales **27.5 net operated horizontal wells** in Q4 2025, exceeding full-year expectations by **12 net wells**, with more planned for early 2026 - Matador expects to turn to sales **27.5 net operated horizontal wells** in the Delaware Basin during Q4 2025[39](index=39&type=chunk) - Due to accelerated activities, Matador expects to turn to sales **12 net wells more** than previously expected for full-year 2025[39](index=39&type=chunk) - An additional **13.6 net operated horizontal wells** are expected to be turned to sales in January 2026, projected to favorably increase production from 2025 to 2026[39](index=39&type=chunk) [Capital Expenditure Estimates](index=8&type=section&id=Fourth%20Quarter%202025%20Estimated%20Capital%20Expenditures) Matador forecasts a significant decrease in Q4 2025 D/C/E and midstream capital expenditures compared to Q3 2025, primarily due to completion timing - D/C/E CapEx for Q4 2025 is estimated to be **$300 to $380 million**, a **21% decrease** from **$429.9 million** in Q3 2025[40](index=40&type=chunk) - Midstream CapEx for Q4 2025 is estimated to be **$10 to $30 million**, a **53% reduction** from **$42.8 million** in Q3 2025[40](index=40&type=chunk) [Company Information & Disclosures](index=8&type=section&id=Company%20Information%20%26%20Disclosures) This section provides details on Matador's Q3 2025 earnings call, company overview, forward-looking statements, and contact information [Third Quarter 2025 Earnings Conference Call](index=8&type=section&id=Third%20Quarter%202025%20Earnings%20Conference%20Call) Matador Resources Company will host a live conference call on October 22, 2025, to discuss Q3 2025 results, with replay available online - A live conference call will be held on **Wednesday, October 22, 2025, at 10:00 a.m. Central Time** to review Q3 2025 results[41](index=41&type=chunk) - Access to the live call is available via a registration link, with a replay available on the Company's website for **one year**[41](index=41&type=chunk)[42](index=42&type=chunk) [About Matador Resources Company](index=8&type=section&id=About%20Matador%20Resources%20Company) Matador is an independent energy company focused on oil and natural gas E&P in the US, primarily in the Delaware Basin and Haynesville Shale, with midstream services - Matador is an independent energy company engaged in exploration, development, production, and acquisition of oil and natural gas resources in the United States[43](index=43&type=chunk) - Current operations primarily focus on the oil and liquids-rich Wolfcamp and Bone Spring plays in the Delaware Basin and the Haynesville shale and Cotton Valley plays in Northwest Louisiana[43](index=43&type=chunk) - The company also conducts midstream operations, providing natural gas processing, oil transportation, and gathering/disposal services for its own operations and third parties[43](index=43&type=chunk) [Forward-Looking Statements](index=8&type=section&id=Forward-Looking%20Statements) This section provides a cautionary disclaimer regarding forward-looking statements, noting that actual results may differ due to risks and uncertainties - The press release includes 'forward-looking statements' related to future events, business, and financial performance, identified by words like 'expect,' 'anticipate,' and 'project'[45](index=45&type=chunk) - Actual results and future events could differ materially from those anticipated due to various risks and uncertainties, including economic conditions, commodity prices, operational execution, and regulatory actions[45](index=45&type=chunk)[46](index=46&type=chunk) - Matador undertakes no obligation to update these forward-looking statements, and readers are cautioned not to place undue reliance on them[46](index=46&type=chunk) [Contact Information](index=9&type=section&id=Contact%20Information) Contact details for investor relations and the Chief Financial Officer are provided for inquiries - Contact for investor relations is Mac Schmitz (Senior Vice President - Investor Relations) at **(972) 371-5225** or **investors@matadorresources.com**[47](index=47&type=chunk) - Contact for financial inquiries is Rob Macalik (Executive Vice President and Chief Financial Officer) at **(972) 371-5413**[47](index=47&type=chunk) [Financial Statements & Non-GAAP Reconciliations](index=10&type=section&id=Financial%20Statements%20%26%20Non-GAAP%20Reconciliations) This section presents Matador's selected financial and operating items, condensed consolidated financial statements, and reconciliations of non-GAAP financial measures [Selected Financial and Operating Items](index=10&type=section&id=Selected%20Financial%20and%20Operating%20Items) This section provides a detailed tabular comparison of key financial and operating metrics for Q3 2025, Q2 2025, and Q3 2024 Selected Financial and Operating Items (Q3 2025 vs. Q2 2025 vs. Q3 2024) | Metric | Q3 2025 | Q2 2025 | Q3 2024 | | :------------------------------------------ | :------ | :------ | :------ | | **Average Daily Production Volumes:** | | | | | Oil (Bbl/d) | 119,556 | 122,875 | 100,315 | | Natural gas (MMcf/d) | 537.8 | 516.8 | 427.0 | | Total oil equivalent (BOE/d) | 209,184 | 209,013 | 171,480 | | **Average Sales Prices:** | | | | | Oil, without realized derivatives (per Bbl) | $64.91 | $64.34 | $75.67 | | Natural gas, without realized derivatives (per Mcf) | $1.95 | $2.05 | $1.83 | | **Revenues (millions):** | | | | | Oil and natural gas revenues | $810.2 | $815.8 | $770.2 | | Third-party midstream services revenues | $43.8 | $42.0 | $38.3 | | **Other (millions):** | | | | | Net income | $176.4 | $150.2 | $248.3 | | Earnings per common share (diluted) | $1.42 | $1.21 | $1.99 | | Adjusted EBITDA | $566.5 | $594.2 | $574.5 | | Net cash provided by operating activities | $721.7 | $501.0 | $610.4 | | Adjusted free cash flow | $93.4 | $132.7 | $196.1 | | D/C/E capital expenditures | $429.9 | $345.3 | $329.9 | | Midstream capital expenditures | $42.8 | $56.2 | $48.9 | [Condensed Consolidated Balance Sheets](index=12&type=section&id=CONDENSED%20CONSOLIDATED%20BALANCE%20SHEETS%20-%20UNAUDITED) The unaudited condensed consolidated balance sheets present Matador's financial position as of September 30, 2025, compared to December 31, 2024 Condensed Consolidated Balance Sheets (Unaudited) | (In thousands) | September 30, 2025 | December 31, 2024 | | :------------------------------------ | :----------------- | :---------------- | | Total current assets | $916,841 | $927,345 | | Net property and equipment | $10,559,908 | $9,764,096 | | Total assets | $11,646,708 | $10,850,109 | | Total current liabilities | $1,257,191 | $995,357 | | Borrowings under Credit Agreement | $285,000 | $595,500 | | Borrowings under San Mateo Credit Facility | $815,000 | $615,000 | | Senior unsecured notes payable | $2,119,554 | $2,114,908 | | Total long-term liabilities | $4,533,737 | $4,397,320 | | Total Matador Resources Company shareholders' equity | $5,505,961 | $5,089,149 | | Total liabilities and shareholders' equity | $11,646,708 | $10,850,109 | [Condensed Consolidated Statements of Income](index=13&type=section&id=CONDENSED%20CONSOLIDATED%20STATEMENTS%20OF%20INCOME%20-%20UNAUDITED) The unaudited condensed consolidated statements of income detail revenues, expenses, and net income for the three and nine months ended September 30, 2025, and 2024 Condensed Consolidated Statements of Income (Unaudited) | (In thousands, except per share data) | Three Months Ended Sep 30, 2025 | Three Months Ended Sep 30, 2024 | Nine Months Ended Sep 30, 2025 | Nine Months Ended Sep 30, 2024 | | :------------------------------------ | :------------------------------ | :------------------------------ | :----------------------------- | :----------------------------- | | Total revenues | $939,015 | $899,783 | $2,848,285 | $2,534,612 | | Total expenses | $633,036 | $507,727 | $1,864,491 | $1,459,983 | | Operating income | $305,979 | $392,056 | $983,794 | $1,074,629 | | Net income attributable to Matador Resources Company shareholders | $176,364 | $248,291 | $566,674 | $670,789 | | Diluted Earnings per common share | $1.42 | $1.99 | $4.54 | $5.44 | [Condensed Consolidated Statements of Cash Flows](index=14&type=section&id=CONDENSED%20CONSOLIDATED%20STATEMENTS%20OF%20CASH%20FLOWS%20-%20UNAUDITED) The unaudited condensed consolidated statements of cash flows detail cash generated from operating, investing, and financing activities for the three and nine months ended September 30, 2025, and 2024 Condensed Consolidated Statements of Cash Flows (Unaudited) | (In thousands) | Three Months Ended Sep 30, 2025 | Three Months Ended Sep 30, 2024 | Nine Months Ended Sep 30, 2025 | Nine Months Ended Sep 30, 2024 | | :------------------------------------ | :------------------------------ | :------------------------------ | :----------------------------- | :----------------------------- | | Net cash provided by operating activities | $721,660 | $610,437 | $1,950,566 | $1,671,926 | | Net cash used in investing activities | $(562,961) | $(2,160,571) | $(1,569,635) | $(3,280,718) | | Net cash (used in) provided by financing activities | $(149,098) | $1,563,254 | $(379,286) | $1,579,517 | | Change in cash and restricted cash | $9,601 | $13,120 | $1,645 | $(29,275) | | Cash and restricted cash at end of period | $96,387 | $77,023 | $96,387 | $77,023 | [Supplemental Non-GAAP Financial Measures](index=15&type=section&id=Supplemental%20Non-GAAP%20Financial%20Measures) This section defines and reconciles Matador's non-GAAP financial measures, including Adjusted EBITDA, Adjusted Net Income, and Adjusted Free Cash Flow, to comparable GAAP metrics [Adjusted EBITDA](index=15&type=section&id=Adjusted%20EBITDA) Adjusted EBITDA is a non-GAAP measure used to evaluate operating performance, defined as earnings before interest, taxes, DDA, and other non-cash items, with reconciliations to GAAP metrics - Adjusted EBITDA is defined as earnings before interest, income taxes, depletion, depreciation, amortization, accretion of asset retirement obligations, property impairments, unrealized derivative gains/losses, non-recurring transaction costs, other non-cash items, non-cash stock-based compensation, and net gain/loss on asset sales and impairment[58](index=58&type=chunk) Adjusted EBITDA Reconciliation to Net Income (Matador Resources Company) | (In thousands) | Sep 30, 2025 | Jun 30, 2025 | Sep 30, 2024 | | :---------------------------------------------------- | :----------- | :----------- | :----------- | | Net income attributable to Matador Resources Company shareholders | $176,364 | $150,225 | $248,291 | | Net income | $200,624 | $182,359 | $272,677 | | Interest expense | $50,641 | $53,345 | $36,169 | | Total income tax provision | $59,128 | $56,462 | $85,321 | | Depletion, depreciation and amortization | $305,354 | $302,602 | $242,821 | | Adjusted EBITDA attributable to Matador Resources Company shareholders | $566,515 | $594,245 | $574,484 | Adjusted EBITDA Reconciliation to Net Cash Provided by Operating Activities (Matador Resources Company) | (In thousands) | Sep 30, 2025 | Jun 30, 2025 | Sep 30, 2024 | | :---------------------------------------------------- | :----------- | :----------- | :----------- | | Net cash provided by operating activities | $721,660 | $501,027 | $610,437 | | Net change in operating assets and liabilities (working capital) | $(123,282) | $65,540 | $(15,367) | | Interest expense, net of non-cash portion | $46,948 | $49,672 | $33,469 | | Adjusted EBITDA attributable to Matador Resources Company shareholders | $566,515 | $594,245 | $574,484 | [Adjusted Net Income and Adjusted Earnings Per Diluted Common Share](index=17&type=section&id=Adjusted%20Net%20Income%20and%20Adjusted%20Earnings%20Per%20Diluted%20Common%20Share) Adjusted net income and adjusted EPS are non-GAAP measures that adjust net income for unrealized derivative gains/losses, impairment, and non-recurring items for clearer performance comparison - Adjusted net income and adjusted earnings per diluted common share are non-GAAP measures that adjust net income for unrealized derivative gains/losses, full-cost ceiling impairment charges, and non-recurring items, with related tax effects[63](index=63&type=chunk) Adjusted Net Income and Adjusted Earnings Per Share Reconciliation (Matador Resources Company) | (In thousands, except per share data) | Sep 30, 2025 | Jun 30, 2025 | Sep 30, 2024 | | :---------------------------------------------------- | :----------- | :----------- | :----------- | | Net income attributable to Matador Resources Company shareholders | $176,364 | $150,225 | $248,291 | | Unrealized (gain) loss on derivatives | $(19,952) | $37,313 | $(35,118) | | Adjusted net income attributable to Matador Resources Company shareholders (non-GAAP) | $169,268 | $190,943 | $236,002 | | Diluted Adjusted earnings per share attributable to Matador Resources Company shareholders (non-GAAP) | $1.36 | $1.53 | $1.89 | [Adjusted Free Cash Flow](index=17&type=section&id=Adjusted%20Free%20Cash%20Flow) Adjusted free cash flow is a non-GAAP measure modifying net cash from operating activities for working capital and capital expenditures, indicating internal funding, dividend, and debt management ability - Adjusted free cash flow is measured as net cash provided by operating activities, adjusted for working capital changes and cash performance incentives, less capital expenditures, adjusted for capital accruals[65](index=65&type=chunk) Adjusted Free Cash Flow Reconciliation (Matador Resources Company) | (In thousands) | Sep 30, 2025 | Jun 30, 2025 | Sep 30, 2024 | | :------------------------------------ | :----------- | :----------- | :----------- | | Net cash provided by operating activities | $721,660 | $501,027 | $610,437 | | Net change in operating assets and liabilities (working capital) | $(123,282) | $65,540 | $(15,367) | | Total discretionary cash flow | $567,348 | $535,009 | $578,087 | | Total accrual-based capital expenditures | $473,948 | $402,335 | $381,940 | | Adjusted free cash flow | $93,400 | $132,674 | $196,147 | Adjusted Free Cash Flow Reconciliation (San Mateo - 100%) | (In thousands) | Sep 30, 2025 | Jun 30, 2025 | Sep 30, 2024 | | :------------------------------------ | :----------- | :----------- | :----------- | | Net cash provided by San Mateo operating activities | $99,417 | $23,305 | $50,496 | | Total San Mateo discretionary cash flow | $63,327 | $77,465 | $59,660 | | San Mateo accrual-based capital expenditures | $60,014 | $92,400 | $12,020 | | San Mateo adjusted free cash flow | $3,313 | $(14,935) | $47,640 |

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number: 001-06605 | EQUIFAX INC. | | | | | --- | --- | --- | --- | | (Exact name of registrant as specified in its charter) | | | | | ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ to ____ Commission file number: 1-13648 _____________________________________________________________________________________________________________ ...