Aspira Women’s Health (AWH) - 2025 Q2 - Quarterly Report

PART I - Financial Information This part presents the unaudited condensed consolidated financial statements and management's discussion and analysis for Aspira Women's Health Inc Item 1. Financial Statements (unaudited) This section presents the unaudited condensed consolidated financial statements of Aspira Women's Health Inc for the periods ended June 30, 2025, and December 31, 2024, including balance sheets, statements of operations, changes in stockholders' deficit, and cash flows, along with accompanying notes detailing accounting policies, fair value measurements, commitments, and other financial disclosures Condensed Consolidated Balance Sheets This section presents the Company's financial position, detailing assets, liabilities, and stockholders' deficit at specific reporting dates | Metric | June 30, 2025 (Thousands) | December 31, 2024 (Thousands) | | :----------------------------- | :-------------------------- | :---------------------------- | | Assets | | | | Cash and cash equivalents | $1,545 | $1,769 | | Total current assets | $3,686 | $4,183 | | Total assets | $4,934 | $5,491 | | Liabilities | | | | Total current liabilities | $4,098 | $5,468 | | Warrant liabilities | $1,240 | $60 | | Total liabilities | $7,619 | $8,054 | | Stockholders' Deficit | | | | Total stockholders' deficit | $(2,685) | $(2,563) | Condensed Consolidated Statements of Operations This section details the Company's revenues, expenses, and net loss for the specified reporting periods | Metric (Thousands) | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :------------------------------------ | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Revenue: Product | $2,404 | $2,423 | $4,683 | $4,576 | | Total revenue | $2,404 | $2,423 | $4,683 | $4,576 | | Cost of revenue: Product | $870 | $1,002 | $1,589 | $1,941 | | Gross profit | $1,534 | $1,421 | $3,094 | $2,635 | | Total operating expenses | $3,344 | $5,814 | $8,144 | $11,738 | | Loss from operations | $(1,810) | $(4,393) | $(5,050) | $(9,103) | | Total other (expense) income, net | $(856) | $863 | $531 | $944 | | Net loss | $(2,666) | $(3,530) | $(4,519) | $(8,159) | | Net loss per share - basic and diluted | $(0.07) | $(0.28) | $(0.16) | $(0.67) | Condensed Consolidated Statements of Changes in Stockholders' Deficit This section outlines changes in the Company's equity, including net loss, stock issuances, and stock-based compensation | Metric (Thousands) | Balance at December 31, 2024 | Net Loss (Q1 2025) | Common Stock Issued (ATM) | Common Stock Issued (Convertible Notes) | Common Stock Issued (RSAs) | Stock-based Compensation | Balance at March 31, 2025 | Net Loss (Q2 2025) | Common Stock Issued (Equity Line) | Common Stock Issued (RSAs) | Stock-based Compensation | Balance at June 30, 2025 | | :------------------------------------ | :--------------------------- | :----------------- | :------------------------ | :-------------------------------------- | :------------------------- | :----------------------- | :-------------------------- | :----------------- | :-------------------------------- | :------------------------- | :----------------------- | :--------------------------- | | Common Stock (Shares) | 17,407,120 | - | 12,277,441 | 5,465,850 | 79,687 | - | 35,230,098 | - | 354,988 | 52,239 | - | 35,637,325 | | Common Stock (Amount) | $17 | - | $12 | $6 | $- | $- | $35 | - | $1 | $- | $- | $36 | | Additional Paid-In Capital | $528,817 | - | $3,325 | $910 | $37 | $66 | $533,155 | - | $24 | $45 | $(29) | $533,195 | | Accumulated Deficit | $(531,397) | $(1,853) | - | - | - | - | $(533,250) | $(2,666) | - | - | - | $(535,916) | | Total Stockholders' Deficit | $(2,563) | $(1,853) | $3,337 | $916 | $37 | $66 | $(60) | $(2,666) | $25 | $45 | $(29) | $(2,685) | Condensed Consolidated Statements of Cash Flows This section summarizes cash flows from operating, investing, and financing activities for the specified periods | Metric (Thousands) | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :------------------------------------ | :------------------------------- | :------------------------------- | | Net cash used in operating activities | $(4,836) | $(8,172) | | Net cash used in investing activities | $0 | $(35) | | Net cash provided by financing activities | $4,612 | $6,314 | | Net decrease in cash, cash equivalents and restricted cash | $(224) | $(1,893) | | Cash, cash equivalents and restricted cash, end of year | $1,545 | $962 | Notes to Condensed Consolidated Financial Statements This section provides detailed explanations and disclosures for the condensed consolidated financial statements 1. Organization, Basis of Presentation and Significant Accounting and Reporting Policies This section details the Company's business of developing and commercializing diagnostic tests for gynecologic disease, including Ova1Plus and OvaWatch. It highlights the Company's going concern risk due to significant net losses and negative cash flows, outlining planned actions to improve liquidity. It also covers the basis of financial statement presentation, key accounting policies like revenue recognition and common stock warrants, and recent accounting pronouncements - Aspira Women's Health Inc develops and commercializes diagnostic tests for gynecologic disease, primarily Ova1Plus and OvaWatch, distributed through its sales force, Aspira Synergy platform, and partnerships[23] - The Company faces substantial doubt about its ability to continue as a going concern due to an accumulated deficit of $535.9 million, a working deficit of $412,000, and ongoing net losses and negative cash flows from operations as of June 30, 2025[25][27][218] - Management plans to address liquidity by raising capital through equity offerings, securing debt, reducing executive bonuses, cutting professional services, and deferring discretionary marketing programs[29] - Revenue from OvaSuite tests is recognized upon completion and delivery of results, based on estimates of collectability considering payment history, payer coverage, and reimbursement contracts[32] - The Company operates as a single segment focused on the discovery, development, and commercialization of noninvasive diagnostic tests, with the CEO acting as the Chief Operating Decision Maker[36][140][141] - The Company adopted several new accounting standards (ASU 2022-03, ASU 2023-01, ASU 2023-06, ASU 2023-07) effective January 1, 2025 (or 2024 for 2023-07), none of which had a material impact on its financial statements[38][39][40][41][42][43] 2. Fair Value Measurements This section details the fair value measurements of the Company's financial instruments, including common stock warrants and the DECD loan. It explains the classification of warrants as liability- or equity-classified based on specific terms and the use of Black-Scholes and Monte Carlo simulation models for valuation, highlighting the significant increase in warrant liabilities due to new issuances - Cash and cash equivalents, accounts receivable, and accounts payable are classified as Level 1 fair value instruments due to their short-term nature and market interest rates[44] | Warrant Type | June 30, 2025 Fair Value (Thousands) | December 31, 2024 Fair Value (Thousands) | Valuation Model | Inputs Level | | :-------------------- | :----------------------------------- | :------------------------------------- | :---------------- | :----------- | | 2022 Warrants | $10 | $60 | Black-Scholes | Level 2 | | March 2025 Warrants | $1,230 | N/A (issued March 2025) | Monte Carlo | Level 3 | | Total Warrant Liabilities | $1,240 | $60 | | | - The fair value of the March 2025 Warrants, issued upon conversion of Convertible Notes, was estimated using a Monte Carlo simulation pricing model due to its incorporation of significant unobservable Level 3 inputs[50] - The DECD loan is classified within Level 3 of the fair value hierarchy, with its fair value estimated based on discounted cash flows using prevailing market interest rates[55] 3. Prepaid and Other Current Assets This section provides a breakdown of the Company's prepaid expenses and other current assets | (in thousands) | June 30, 2025 | December 31, 2024 | | :----------------------- | :-------------- | :---------------- | | Prepaid insurance | $251 | $629 | | Software licenses | $62 | $90 | | Subscriptions | $11 | $66 | | Other | $266 | $313 | | Total prepaid and other current assets | $590 | $1,098 | 4. Commitments and Contingencies, and Debt This section outlines the Company's debt obligations, including Convertible Notes, the DECD Loan, and insurance notes, along with operating lease commitments and non-cancellable royalty obligations. It also details business agreements for research and licensing, government assistance, and contingent liabilities - In March 2025, the Company issued $1.366 million in Convertible Notes in a private placement, which were converted into common stock and warrants on March 12, 2025, resulting in a $1.198 million loss upon issuance due to fair value exceeding proceeds[58][60][62] - The DECD Loan Agreement, totaling $4 million, had $1 million forgiven in 2023 due to job creation milestones[63][65] - Payments on Loan 2 were deferred from August 2024 to May 2027 due to troubled debt restructuring[67] | (in thousands) | Total | 2025 (remaining six months) | 2026 | 2027 | 2028 | 2029 | Thereafter | | :------------- | :---- | :-------------------------- | :--- | :--- | :--- | :--- | :--------- | | DECD Loan | $1,395 | $117 | $237 | $145 | $213 | $217 | $466 | - The Company has operating lease commitments for facilities in Austin, Texas, and Shelton, Connecticut, with total future lease payments of $1.644 million as of June 30, 2025[70][71][72][78] - Aspira is obligated to pay 4% royalties on net sales of diagnostic tests or annual minimum royalties of $57,500 under a research collaboration agreement with Johns Hopkins University[80] - The Company received $3.5 million in government funding from ARPA-H for the Sprint for Women's Health program but the contract was terminated on June 9, 2025, due to not meeting Milestone 3 specifications[83][84][85][215] 5. Accrued Liabilities This section details the Company's accrued expenses, including payroll, collaboration, and professional services | (in thousands) | June 30, 2025 | December 31, 2024 | | :----------------------------- | :-------------- | :---------------- | | Payroll and benefits related expenses | $1,070 | $1,448 | | Collaboration and research agreements expenses | $235 | $228 | | Professional services | $334 | $253 | | Other accrued liabilities | $190 | $516 | | Total accrued liabilities | $1,829 | $2,445 | 6. Stockholders' Deficit This section details changes in stockholders' deficit, including the delisting from Nasdaq, various equity offerings (2025 Equity Purchase Agreement, 2025 Private Placement, 2024 Private Placement, 2024 At the Market Offering, 2024 Registered Direct Offering), warrant inducement agreements, and stock incentive plans - On April 15, 2025, the Company's shares were delisted from Nasdaq due to failure to meet the $2.5 million stockholders' equity requirement and now trade on the OTC QB Venture Market[89][175] - The Company entered into a 2025 Equity Purchase Agreement with Triton Funds L.P. for up to $2 million of common stock, issuing 354,988 restricted shares for $25,000 and incurring $214,000 in transaction costs[90][91] - March 2025 Warrants, issued upon conversion of Convertible Notes, are exercisable for five years at $0.25 per share for the first 24 months and $0.50 thereafter, and are classified as liability due to variable exercise price[92][93][217] - The 2024 At the Market Offering generated $3.484 million in gross proceeds from selling 12,277,441 shares during the six months ended June 30, 2025, with $62,000 remaining availability[100] - A Warrant Inducement Agreement in July 2024 led to the exercise of 1,711,111 warrants at a reduced price of $1.25 per share, generating $1.862 million in net proceeds and issuing new August 2024 Purchase Warrants[102][103][104] - The 2024 Direct Offering in January 2024 raised approximately $5.563 million gross proceeds from the sale of common stock and pre-funded warrants, which were fully exercised for $20 in February 2024[107][108][109] - The 2019 Stock Incentive Plan had 4,532,818 shares authorized for issuance as of June 30, 2025, with 680,493 options and 18,593 RSUs outstanding, and 3,210,004 shares reserved for future issuance[125] | Stock-Based Compensation (Thousands) | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :----------------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Cost of revenue | $2 | $8 | $9 | $26 | | Research and development | $(9) | $24 | $1 | $90 | | Sales and marketing | $(5) | $19 | $18 | $44 | | General and administrative | $27 | $71 | $90 | $324 | | Total | $15 | $122 | $118 | $484 | 7. Loss Per Share This section details the calculation of basic and diluted loss per share, noting that for periods with a net loss, potential common shares are antidilutive | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :---------------------------------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Net Loss (Thousands) | $(2,666) | $(3,530) | $(4,519) | $(8,159) | | Weighted average common shares (basic and diluted) | 35,564,032 | 12,518,725 | 28,579,132 | 12,181,481 | | Net loss per share - basic and diluted | $(0.07) | $(0.28) | $(0.16) | $(0.67) | | Potential Common Shares Excluded (Antidilutive) | June 30, 2025 | June 30, 2024 | | :---------------------------------------------- | :------------ | :------------ | | Stock options | 695,400 | 905,458 | | Restricted stock units | 18,593 | 25,277 | | Warrants | 16,773,245 | 2,370,985 | | Total Potential common shares | 17,487,238 | 3,301,720 | 8. Related Party Transactions This section discloses related party transactions, including a consulting agreement with Biodesix, Inc., where a significant shareholder of Aspira also holds a substantial stake, and the participation of a significant shareholder in the March 2025 Private Placement of Convertible Notes - The Company has a consulting agreement with Biodesix, Inc., incurring $125,000 in R&D expenses, where Jack Schuler is a beneficial owner of over 5% of Aspira's stock and over 10% of Biodesix's stock[137] - Jack Schuler, a significant shareholder, purchased $200,000 of the Convertible Notes in the March 2025 Private Placement, which were subsequently converted into common stock and warrants[138] - Two purchasers of the Convertible Notes, Jeffrey Cohen, M.D. and John Fraser, were appointed to the Company's board of directors in April 2025[139] 9. Segment Reporting This section reiterates that the Company operates as a single operating segment focused on the discovery, development, and commercialization of noninvasive diagnostic tests, with the CEO as the Chief Operating Decision Maker. Financial performance is assessed on a consolidated basis - The Company's Chief Executive Officer acts as the Chief Operating Decision Maker (CODM) and reviews financial information on a consolidated basis for resource allocation and performance assessment[140][141] - Aspira manages its business as a single operating segment dedicated to noninvasive diagnostic tests, with accounting policies consistent across the segment[141] | Financial Metric (Thousands) | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Total Assets | $4,934 | $5,491 | $4,934 | $5,491 | | Total Revenue | $2,404 | $2,423 | $4,683 | $4,576 | | Net Loss | $(2,666) | $(3,530) | $(4,519) | $(8,159) | Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations This section provides management's perspective on the Company's financial condition and operational results, including forward-looking statements, a company overview, detailed analysis of financial performance for the three and six months ended June 30, 2025 and 2024, and a discussion of liquidity and capital resources Forward-Looking Statements This section highlights statements about future expectations, subject to risks and uncertainties, and should not be considered guarantees of future performance - The report contains forward-looking statements regarding future test volumes, revenue, expenses, cash flow, business strategy, product development, market expansion, regulatory approvals, and liquidity, subject to significant risks and uncertainties[144][146][149] - Key risks include the Company's ability to continue as a going concern, changes in payer reimbursement, ability to develop and commercialize new products, FDA compliance, competition, and securing additional capital[148] Company Overview This section provides an overview of Aspira's business, vision, product pipeline, and commercialization strategies for diagnostic tests - Aspira's vision is to develop and commercialize noninvasive, AI-powered tests for gynecologic diseases, expanding beyond ovarian cancer to conditions like endometriosis[152][153] - The Company's product pipeline focuses on ovarian cancer (OvaWatch, OVAinform) and endometriosis (ENDOinform), aiming to significantly expand the addressable market[156][157][158][159][160] - OvaWatch's expanded mass monitoring feature in Q2 2024 increased the addressable market for Aspira's tests tenfold, from 200,000-400,000 patients to 2-4 million tests per year[157] - Current commercialized products include Ova1Plus (Ova1 and Overa) for assessing malignancy likelihood in ovarian adnexal masses and OvaWatch for initial and periodic risk assessment of indeterminate or benign adnexal masses[161] - Products are distributed through a national sales force, the Aspira Synergy decentralized testing platform, and agreements with BioReference Health, LLC and ARUP Laboratories[162] - Aspira Labs, a CLIA-certified lab in Austin, Texas, performs Ova1Plus and OvaWatch testing and holds ISO 13485 certification[167] - Novitas Solutions provides national Medicare coverage for Ova1, and an LCD for OvaWatch is under review[168] - ACOG Practice Bulletin Number 174 recommends Ova1 ("Multivariate Index Assay") with parity to CA-125 for adnexal mass management[170] - OVAinform and ENDOinform are multi-marker tests combining serum proteins, clinical data, and miRNA, developed in collaboration with Harvard's Dana-Farber Cancer Institute, Brigham & Women's Hospital, and Medical University of Lodz[172][173] Recent Developments This section outlines key operational and financial events that have recently impacted the Company - In Q1 2025, salesforce rebalancing led to a 156% increase in sales per full-time equivalent salesperson in Q2 2025 compared to Q2 2024[174] - The Company's shares were delisted from Nasdaq on April 15, 2025, due to not meeting the minimum stockholders' equity requirement and now trade on the OTC QB Venture Market[175] - The ARPA-H contract award for the ENDOinform development program was terminated on June 9, 2025, as the Company did not meet Milestone 3 specifications[176][215] Results of Operations – Three Months Ended June 30, 2025 Compared to Three Months Ended June 30, 2024 This section analyzes the Company's financial performance for the three months ended June 30, 2025, compared to the same period in 2024 | Metric (Thousands) | 3 Months Ended June 30, 2025 | 3 Months Ended June 30, 2024 | Change (Amount) | Change (%) | | :------------------------------------ | :--------------------------- | :--------------------------- | :-------------- | :--------- | | Total revenue | $2,404 | $2,423 | $(19) | (1)% | | Cost of revenue | $870 | $1,002 | $(132) | (13)% | | Gross profit | $1,534 | $1,421 | $113 | 8% | | Gross profit margin | 63.8% | 58.6% | 5.2 pp | | | Research and development expenses | $704 | $952 | $(248) | (26)% | | Sales and marketing expenses | $679 | $2,137 | $(1,458) | (68)% | | General and administrative expenses | $1,961 | $2,725 | $(764) | (28)% | | Total operating expenses | $3,344 | $5,814 | $(2,470) | (42)% | | Loss from operations | $(1,810) | $(4,393) | $2,583 | (59)% | | Change in fair value of warrant liabilities | $(624) | $889 | $(1,513) | (170)% | | Net loss | $(2,666) | $(3,530) | $864 | (24)% | - Product revenue decreased by 1% due to an 11% decrease in OvaSuite test volume (5,728 tests in Q2 2025 vs. 6,471 in Q2 2024), partially offset by an increase in Average Unit Price (AUP) from $374 to $420[182][183][184] - Operating expenses significantly decreased by 42%, driven by reductions in sales and marketing (68%), general and administrative (28%), and research and development (26%) expenses[180][186][187][188] Results of Operations – Six Months Ended June 30, 2025 Compared to Six Months Ended June 30, 2024 This section analyzes the Company's financial performance for the six months ended June 30, 2025, compared to the same period in 2024 | Metric (Thousands) | 6 Months Ended June 30, 2025 | 6 Months Ended June 30, 2024 | Change (Amount) | Change (%) | | :------------------------------------ | :--------------------------- | :--------------------------- | :-------------- | :--------- | | Total revenue | $4,683 | $4,576 | $107 | 2% | | Cost of revenue | $1,589 | $1,941 | $(352) | (18)% | | Gross profit | $3,094 | $2,635 | $459 | 17% | | Gross profit margin | 66.1% | 57.6% | 8.5 pp | | | Research and development expenses | $1,677 | $1,858 | $(181) | (10)% | | Sales and marketing expenses | $1,765 | $4,026 | $(2,261) | (56)% | | General and administrative expenses | $4,702 | $5,854 | $(1,152) | (20)% | | Total operating expenses | $8,144 | $11,738 | $(3,594) | (31)% | | Loss from operations | $(5,050) | $(9,103) | $4,053 | (45)% | | Change in fair value of warrant liabilities | $297 | $1,140 | $(843) | (74)% | | Change in fair value of convertible notes | $170 | $- | $170 | - | | Loss upon issuance of Convertible Notes | $(1,198) | $- | $(1,198) | - | | Net loss | $(4,519) | $(8,159) | $3,640 | (45)% | - Product revenue increased by 2% to $4.683 million, driven by an increase in AUP from $372 to $411, despite a 7.3% decrease in OvaSuite test volume (11,407 tests in H1 2025 vs. 12,300 in H1 2024)[192][193][194] - Operating expenses decreased by 31% to $8.144 million, primarily due to significant reductions in sales and marketing (56%), general and administrative (20%), and research and development (10%) expenses[191][197][198][199] - Net loss decreased by 45% to $4.519 million, largely due to reduced operating expenses, partially offset by a $1.198 million loss upon issuance of Convertible Notes[191][201] Liquidity and Capital Resources This section discusses the Company's financial position, cash flows, and ability to meet its short-term and long-term obligations - The Company has an accumulated deficit of $535.9 million and a stockholders' deficit of $2.685 million as of June 30, 2025, with $1.545 million in cash and cash equivalents, indicating substantial doubt about its ability to continue as a going concern[203][218] - Future liquidity depends on raising capital through equity offerings, debt financings, warrant exercises, collaborations, grants, and strategic alliances, as current working capital may not sustain operations for the next twelve months[204][228] | Cash Flow Activity (Thousands) | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :----------------------------- | :------------------------------- | :------------------------------- | | Net cash used in operating activities | $(4,836) | $(8,172) | | Net cash used in investing activities | $0 | $(35) | | Net cash provided by financing activities | $4,612 | $6,314 | - The Company has a full valuation allowance against its net deferred tax assets and its ability to use net operating loss (NOL) carryforwards is restricted by ownership change limitations (Section 382)[224][225][226] Item 3. Quantitative and Qualitative Disclosures About Market Risk This section states that the information required by Item 305(e) of Regulation S-K regarding quantitative and qualitative disclosures about market risk is not required for this filing Item 4. Controls and Procedures This section reports that the Company's disclosure controls and procedures were not effective as of June 30, 2025, due to a material weakness in internal control over financial reporting related to contract review processes and accounting for complex transactions. Remediation efforts include retaining outside accounting assistance - As of June 30, 2025, the Company's disclosure controls and procedures were not effective due to a material weakness in internal control over financial reporting[231] - The material weakness stems from inadequate operation of internal controls related to contract review processes and accounting for significant, non-routine, or complex transactions, such as a warrant inducement and a government grant[231][232] - Remediation activities include retaining outside accounting assistance from a nationally recognized firm for complex transactions, starting in Q1 2025[233] PART II - Other Information This part provides additional information including legal proceedings, risk factors, and exhibits Item 1. Legal Proceedings This section states that the Company is not currently a party to any legal or regulatory proceedings whose adverse outcome would have a material adverse effect on its financial position or results of operations as of June 30, 2025 - As of June 30, 2025, the Company is not involved in any legal proceedings or regulatory actions that are expected to have a material adverse effect on its financial position or results of operations[237] Item 1A. Risk Factors This section indicates that there have been no material changes to the risk factors previously disclosed in the Company's 2024 Annual Report on Form 10-K and the March 31, 2025 Quarterly Report on Form 10-Q, but acknowledges that additional unknown or immaterial risks may arise - No material changes to risk factors have occurred since the 2024 Annual Report on Form 10-K and the March 31, 2025 Quarterly Report on Form 10-Q[238] Item 2. Unregistered Sales of Equity Securities and Use of Proceeds This section states that there were no unregistered sales of equity securities or use of proceeds to report for the period Item 3. Defaults Upon Senior Securities This section states that there were no defaults upon senior securities to report for the period Item 4. Mine Safety Disclosures This section states that mine safety disclosures are not applicable to the Company Item 5. Other Information This section states that there is no other information to report for the period Item 6. Exhibits This section lists the exhibits filed or incorporated by reference with the report, including certifications from the CEO and CFO, and Inline XBRL documents - The report includes certifications from the Chief Executive Officer and Chief Financial Officer pursuant to Sections 302 and 906 of the Sarbanes-Oxley Act of 2002[244][246] - Inline XBRL Instance Document, Taxonomy Extension Schema, and Cover page formatted as Inline XBRL are filed as exhibits[244] SIGNATURES This section contains the signatures of the Company's authorized officers, including the Chief Executive Officer and Controller, certifying the filing of the report - The report is signed by Michael Buhle, Chief Executive Officer (Principal Executive Officer), and Julie Carrillo, Controller (Principal Financial Officer and Principal Accounting Officer), on August 12, 2025[249]