Table of Contents 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 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: 001-40206 XBP Global Holdings, Inc. (Exact Name of Registrant as Specified in its Charter) (State of or other Jurisdict ...

Business Combination and Valuation - XBP Global completed its business combination with Exela Technologies BPA, LLC on July 29, 2025, acquiring it for $1.00 amid its voluntary bankruptcy proceedings [278]. - The overall implied equity valuation of the combined company is $585.7 million, reflecting a valuation of BPA equity at $407.0 million [285]. - The business combination was accounted for as a reverse acquisition, treating XBP Europe Holdings, Inc. as the acquired company for financial reporting purposes [281]. Revenue and Segments - XBP Global's revenue primarily comes from transaction processing, including payment processing and data capture, with a focus on the Americas, Europe, and increasing presence in Asia [275]. - The Applied Workflow Automation segment generated $189.4 million in revenue, a decline of $30.9 million, or 14.0%, primarily due to lower postage revenue and project completions [303]. - Technology segment revenue increased by $5.4 million, or 13.4%, to $45.9 million for the nine months ended September 30, 2025, largely due to the inclusion of a newly acquired entity [324]. Financial Performance - For the three months ended September 30, 2025, total revenue decreased by $24.3 million, or 10.4%, to $209.08 million from $233.4 million for the same period in 2024 [302]. - Net revenue for the nine months ended September 30, 2025, decreased by $79.9 million, or 12.0%, to $584.1 million from $664.0 million for the same period in 2024 [322]. - The net loss for the three months ended September 30, 2025, was $305,838 million, while the net profit for the nine months was $1,148,820 million [394][396]. Expenses and Cost Management - Cost of revenue decreased by $26.2 million, or 13.9%, compared to the prior year, with the Applied Workflow Automation segment's cost decreasing by $29.4 million, or 15.9% [305][307]. - Selling, general and administrative expenses increased by $2.1 million, or 7.9%, to $28.9 million, with SG&A expenses as a percentage of revenue rising to 13.8% from 11.5% [309]. - Selling, general and administrative expenses decreased by $22.5 million, or 23.8%, to $71.9 million for the nine months ended September 30, 2025, attributed to lower bad debt provisions and decreased legal fees [329]. Goodwill and Impairment - Goodwill impairment for the three months ended September 30, 2025, was $295.8 million, with $215.8 million related to the Applied Workflow Automation segment and $80.0 million to the Technology segment [311][331]. - The company incurred a significant impairment of goodwill amounting to $295,800,000 during the reporting period [397]. Cash Flow and Liquidity - Cash, restricted cash, and cash equivalents totaled $64.2 million as of September 30, 2025, slightly up from $64.1 million at the end of 2024 [347]. - Net cash provided by operating activities for the nine months ended September 30, 2025, was $13.9 million, a significant increase compared to a net cash used of $159.9 million in the same period of 2024, reflecting a change of $173.8 million [354]. - The company expects to continue facing liquidity constraints until all pre-petition liabilities are settled following its emergence from Chapter 11 [350]. Financing and Debt - The company entered into exit financing arrangements, including the issuance of $183.0 million in July 2030 Notes and a $150 million revolving credit facility [288]. - As of September 30, 2025, there were borrowings of $72.1 million outstanding under the ABL Facility, which matures on July 29, 2028 [377]. - The ABL Facility requires maintaining a minimum fixed charge coverage ratio of not less than 0.85 to 1.00 through December 31, 2025 [379]. Strategic Plans and Future Outlook - The company anticipates future growth opportunities driven by its proprietary platforms and automation solutions [274]. - The company plans to explore strategic transactions, including joint ventures and acquisitions, which may require additional funding [398]. - The company may seek to raise additional debt or equity financing through private placements or underwritten offerings to support potential transactions [400].

Financial Performance - Total operating revenues for Q3 2025 reached $4,525,000, a 49.4% increase from $3,028,000 in Q3 2024[17] - Net income for Q3 2025 was $240,000, compared to a net loss of $2,237,000 in Q3 2024, marking a significant turnaround[17] - For the nine months ended September 30, 2025, total operating revenues were $14,932,000, up 83.5% from $8,153,000 in the same period of 2024[19] - The Company reported operating revenues of $14.932 million for Q3 2025, a significant increase from $8.153 million in Q3 2024[75] - Operating income for Q3 2025 was a loss of $2.849 million, compared to a loss of $5.516 million in Q3 2024, indicating improved performance[75] - For the nine months ended September 30, 2025, operating revenues were $14.932 million, up from $8.153 million in 2024, indicating an 83.5% increase[108] Assets and Liabilities - Total assets decreased to $45,839,000 as of September 30, 2025, down from $50,139,000 at the end of 2024, reflecting a 8.6% decline[15] - Current liabilities decreased to $7,347,000 in Q3 2025, down 34.5% from $11,197,000 in Q4 2024[15] - The accumulated deficit increased to $70,407,000 as of September 30, 2025, compared to $61,008,000 at the end of 2024[15] - The company’s total stockholders' equity increased to $33,722,000 as of September 30, 2025, up from $33,181,000 at the end of 2024[15] - Total property and equipment decreased from $54,340 thousand at December 31, 2024, to $48,247 thousand at September 30, 2025, reflecting a reduction in asset value[35] Cash Flow - Net cash used in operating activities for the nine months ended September 30, 2025, was $(1,646) thousand, compared to $147 thousand in 2024, indicating a significant decline[23] - Cash flows from investing activities showed a net increase of $90 thousand in 2025, a recovery from a net cash used of $(2,620) thousand in 2024[23] - The company reported a net decrease in cash and cash equivalents of $(1,909) thousand for the nine months ended September 30, 2025, compared to an increase of $438 thousand in 2024[23] - Cash and cash equivalents were $4.9 million at September 30, 2025, down from $6.8 million at December 31, 2024[127] - Net cash used in operating activities for the nine months ended September 30, 2025, was $1.6 million, compared to $0.1 million provided in the same period of 2024[132] - Net cash provided by investing activities for the nine months ended September 30, 2025, was approximately $90,000, a significant improvement from $2.6 million used in the prior year[135] Share-Based Compensation - Share-based compensation expenses for Q3 2025 were $754,000, down from $2,094,000 in Q3 2024, indicating a reduction of 64.0%[17] - As of September 30, 2025, there were 266,666 shares of unvested stock options, representing $1.0 million of unrecognized compensation cost[65] - Share-based compensation expenses for Q3 2025 totaled $0.8 million, down from $2.1 million in Q3 2024, with stock options vesting decreasing from $1.2 million to $0.3 million[69] - For the nine months ended September 30, 2025, share-based compensation expenses were $3.1 million, compared to $4.7 million for the same period in 2024[69] Leasing and Revenue Generation - Total leasing revenues for the nine months ended September 30, 2025, were $6,875,000, an increase from $5,749,000 in the same period of 2024[59] - Minimum rentals for the three months ended September 30, 2025, were $1,185,000, compared to $1,083,000 for the same period in 2024[59] - Percentage rentals for the nine months ended September 30, 2025, were $1,828,000, slightly up from $1,783,000 in 2024[59] - Operating revenues from leasing activities for the three months ended September 30, 2025, were $3.5 million, an increase of 29.5% compared to $2.7 million for the same period in 2024[115] - For the nine months ended September 30, 2025, operating revenues from leasing activities reached $9.9 million, up 39.4% from $7.1 million in the prior year[115] - The increase in operating revenues is attributed to efforts in re-tenanting and converting below market leases to current market rates across three commercial centers[115] Development and Projects - Deferred development costs for development projects increased slightly from $14.4 million at December 31, 2024, to $14.5 million at September 30, 2025[33] - The company capitalized $1.0 million in deferred development costs related to its new Agave venture as of September 30, 2025, up from $30,000 in 2024[34] - The company initiated the planting of over 15,000 agave plants in the second quarter of 2025, with a growth cycle of seven to nine years until maturity for production[106] - Land development and sales operating revenues for the three months ended September 30, 2025, included $0.2 million from the Honokeana Homes project and $0.6 million from non-strategic remnant parcels[109] - The company has identified unimproved land for long-term lease and ongoing asset management, which may be expected to be leased for diversified agricultural, conservation, and cultural uses for the next ten or more years[105] Legal and Regulatory Matters - The company is involved in ongoing legal disputes regarding irrigation water rights, with potential financial impacts yet to be determined[52][53] - The company submitted a corrective action plan to the State of Hawai'i Department of Health on March 14, 2024, to address wastewater effluent issues[51] - The company has no material legal proceedings to report[146] Internal Controls and Compliance - There have been no significant changes in the company's internal controls over financial reporting during the nine months ended September 30, 2025[144] - The company's disclosure controls and procedures were effective as of September 30, 2025, providing reasonable assurance for timely reporting[143] - The company maintains disclosure controls designed to ensure compliance with SEC rules and timely decision-making[141]

Exhibit 99.1 XBP Global Holdings, Inc. Reports Third Quarter 2025 Results November 14, 2025 Third Quarter 2025 Highlights IRVING, TX, November 14, 2025 (GLOBE NEWSWIRE) – XBP Global Holdings, Inc. ("XBP Global" or "the Company") (NASDAQ: XBP), a workflow automation leader leveraging decades of industry experience, a global footprint, and agentic AI to rethink business process automation and digital transformation, today announced its financial results for the quarter ended September 30, 2025. Due to the par ...

Financial Performance - Reported revenue for Q3 2025 totaled $209.1 million, a decline of 10.4% year-over-year[6] - Combined pro forma revenue for Q3 2025 was $220.4 million, a decrease of 18.1% year-over-year[7] - The net loss for the period was $305.838 million, compared to a net profit of $1.480 billion in the prior period, indicating a significant shift in financial performance[34] - Operating loss for the current period was $292.166 million, compared to a loss of $1.883 million in the previous period, highlighting operational challenges[34] - Pro Forma Revenue for Q3 2025 was $220,433 thousand, down from $269,167 thousand in Q3 2024, reflecting a decrease of approximately 18.1%[39] - Pro Forma Gross Profit for Q3 2025 was $48,328 thousand, compared to $53,872 thousand in Q3 2024, indicating a decline of about 9.4%[39] - Pro Forma Adjusted EBITDA for Q3 2025 was $24.7 million, an increase of 7.4% year-over-year[7] - Pro Forma Adjusted EBITDA for the nine months ended September 30, 2025, was $70,928 thousand, slightly down from $71,711 thousand for the same period in 2024[41] - The company reported a basic and diluted net loss per common share of $2.60 for the current period[34] - Net profit for the period from August 1, 2025, through September 30, 2025, was a loss of $305,838 thousand, compared to a profit of $1,454,658 thousand for the previous period[37] Asset and Liability Management - Total assets increased to $947.932 million as of September 30, 2025, compared to $390.421 million as of December 31, 2024, reflecting significant growth[31] - Total current liabilities amounted to $330.363 million, a decrease from $1.790 billion in the previous period, indicating improved liquidity management[31] - Cash and cash equivalents increased to $34.534 million from $11.635 million, reflecting better cash flow management[31] - The company reported a net cash increase of $20,344 thousand in cash, restricted cash, and cash equivalents, compared to a decrease of $20,174 thousand in the prior period[37] Operational Highlights - Applied Workflow Automation segment reported revenue of $189.4 million, down 14.0% year-over-year[4] - Technology segment revenue increased by 50.3% year-over-year, reaching $19.7 million[4] - Selling, general and administrative expenses rose to $17.980 million from $10.966 million, indicating increased operational costs[34] - Cash flows from operating activities for the period were $13,866 thousand, a significant improvement compared to a cash outflow of $159,942 thousand in the previous period[37] Goodwill and Impairment - Goodwill impairment recorded was $295.800 million, which may impact future earnings and asset valuations[34] - The company incurred a goodwill impairment of $295,800 thousand during the period[41] Strategic Initiatives - The acquisition of Exela BPA was finalized on July 29, 2025, with an equity valuation of $585.7 million[6] - The company is focusing on growth through client outreach and investment in new talent[3] - Future strategies include enhancing corporate governance and expanding agentic AI capabilities[3] Credit and Interest Expenses - Interest expense for the nine months ended September 30, 2025, was $89,506 thousand, compared to $80,118 thousand for the same period in 2024[41] - The company reported a provision for credit losses of $920 thousand for the period[37] - The company had cash paid for debt issuance costs amounting to $1,035 thousand during the period[37] Related Party Transactions - Related party revenue decreased to $4 thousand from $1.487 million, suggesting a decline in transactions with related entities[34]

Market Overview - The global Pulmonary Arterial Hypertension (PAH) market was valued at $7.66 billion in 2023, with an estimated compound annual growth rate of 3.3% through 2034[128]. - Sotatercept, launched in 2024, is generating approximately $1.4 billion in annualized sales, indicating a growing interest in anti-proliferative therapies for PAH[129]. Product Development - IKT-001, a prodrug of imatinib mesylate, is set to enter a Phase 2b study involving approximately 150 PAH patients, expected to initiate in Q4 2025[124][135]. - The FDA acknowledged the 505(b)(2) pathway as appropriate for IKT-001's approval, with a pre-NDA meeting confirming no additional clinical studies are needed[127]. - IKT-001 has established bioequivalence with a 300 mg dose to 230 mg of imatinib mesylate, and a 500 mg dose to 383 mg of imatinib mesylate, based on a study completed in 2023[126]. - The primary efficacy endpoint for the IMPROVE-PAH study will be the change in pulmonary vascular resistance (PVR) at Week 26[135]. - The company plans to apply for Orphan Drug Designation for IKT-001 once pre-clinical studies are complete, enhancing its market exclusivity prospects[133]. Financial Performance - Research and development expenses increased by $3,459,824 or 82.6% to $7,649,697 for the three months ended September 30, 2025, compared to $4,189,873 in the prior year[151]. - Selling, general and administrative expenses rose by $3,973,900 or 242.7% to $5,611,503 for the same period, up from $1,637,603[152]. - Net loss for the three months ended September 30, 2025, was $11,930,280, representing an increase of $6,152,214 or 106.5% from the previous year[150]. - Research and development expenses for the nine months ended September 30, 2025, totaled $23,434,243, an increase of $13,417,261 or 133.9% from $10,016,982 in 2024[157]. - Selling, general and administrative expenses for the nine months ended September 30, 2025, increased by $11,137,139 or 197.3% to $16,780,525 from $5,643,386[158]. - Interest income surged by $2,401,060 or 879.3% to $2,674,119 for the nine months ended September 30, 2025, compared to $273,059 in the prior year[160]. - The company had cash, cash equivalents, and marketable securities of $77.3 million as of September 30, 2025[163]. - The accumulated deficit reached $129.9 million as of September 30, 2025, with expectations of continued significant losses in the future[167]. - The company anticipates needing substantial additional funding to support ongoing operations and product development[165]. - The company has not generated any revenue from product sales and does not expect to do so until regulatory approval is obtained for its product candidates[165]. Cash Flow and Financing - Net cash used in operating activities for the nine months ended September 30, 2025, totaled $20,270,491, compared to $13,802,492 for the same period in 2024, reflecting a significant increase in cash outflow[172][174]. - Net cash provided by investing activities for the nine months ended September 30, 2025, was $2,151,977, up from $1,757,524 in 2024, primarily due to $41.6 million from the maturity of marketable securities[175][176]. - Net cash used in financing activities for the nine months ended September 30, 2025, was $102,359, a decrease from $3,793,209 in 2024, indicating reduced financing activity[177][178]. Merger and Acquisition - The company entered into a merger agreement with CorHepta Pharmaceuticals, resulting in the issuance of 4,979,101 shares of common stock, with contingent consideration based on performance milestones[188][189]. - The fair value of contingent consideration recognized at acquisition was adjusted, resulting in a change in fair value of $2,016,111 for the nine months ended September 30, 2025[190]. - The acquired in-process research and development asset of $7,357,294 was written off as research and development expense immediately following the acquisition[191]. - The company has not recorded a liability for contingent consideration as the achievement of performance milestones is not currently deemed probable[182][190]. Clinical Trial Costs - The total remaining contract costs for a clinical trial supply agreement as of September 30, 2025, were approximately $6.3 million, with an estimated performance period through 2029[180]. - Research and development expenses are recorded as incurred, with significant costs associated with external service providers and clinical studies[184][185].

Table of Contents 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: 001-38608 One Commerce Square, 24th FL Philadelphia, PA 19103 (Address of prin ...

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 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ Commission File No. 001-40899 Bone Biologics Corporation (Exact name of registrant as specified in its charter) Delaware 42-1743430 | ...

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 ☐ 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: 001-35922 PEDEVCO Corp. (Exact name of registrant as specified in its charter) | Texas | 22-3755993 | | --- | - ...

Financial Performance - TRNR reported record quarterly revenue of $4.8 million, representing a 139% year-over-year growth[2] - The company incurred a net loss of $5.2 million, equating to a loss of $3.11 per diluted share, and an adjusted EBITDA loss of $2.9 million[2] - If the Sportstech acquisition had been included, TRNR's revenue for the quarter would have been approximately $18 million[2] - TRNR's management expressed confidence in achieving more than $80 million in revenue and profitability in Q4 on a pro forma basis[7] - Fitness product revenue for Q3 2025 reached $4,553 million, a significant increase from $1,617 million in Q3 2024, representing a growth of 181%[23] - Total revenue for the nine months ended September 30, 2025, was $7,391 million, compared to $2,997 million for the same period in 2024, marking a 147% increase[23] - Gross profit for Q3 2025 was $825 million, compared to a gross loss of $288 million in Q3 2024, indicating a turnaround in profitability[23] - The net loss attributable to common stockholders for Q3 2025 was $5,231 million, an improvement from a net loss of $7,141 million in Q3 2024[23] - Net loss for the nine months ended September 30, 2025, was $14,012, compared to a net loss of $29,172 in 2024, representing a 52% improvement[27] Acquisition and Strategic Initiatives - TRNR reiterates its full-year 2025 pro forma revenue guidance of more than $80 million, driven by the expected completion of the Sportstech acquisition[3] - The Sportstech acquisition is anticipated to close in 2025 based on achieving key closing milestones[4] - The new CFO, Caleb Morgret, is expected to accelerate the closing procedures for the Sportstech acquisition[7] - Cost savings initiatives have been initiated to leverage group synergies following the acquisition of Wattbike[5] - The company made a loan to Sportstech amounting to $5,025, indicating ongoing investment in strategic partnerships[27] Cash Flow and Liquidity - Cash and cash equivalents increased to $845 million as of September 30, 2025, up from $138 million at the end of 2024[25] - Cash and restricted cash at the end of the period was $845, up from $138 at the beginning of the period, showing a significant increase in liquidity[27] - Net cash used in operating activities decreased to $8,161 for the nine months ended September 30, 2025, from $8,909 in 2024, indicating an 8% reduction[27] - Total cash used in investing activities significantly increased to $53,490 in 2025, compared to $1,407 in 2024, reflecting a substantial rise in investment activities[27] - Net cash provided by financing activities rose to $62,248 in 2025, compared to $12,947 in 2024, marking an increase of 382%[27] Assets and Liabilities - Total assets as of September 30, 2025, were $85,438 million, significantly higher than $34,170 million at the end of 2024, reflecting a growth of 150%[25] - The company reported a total current liabilities of $30,808 million as of September 30, 2025, compared to $26,881 million at the end of 2024, an increase of 15%[25] - The accumulated deficit increased to $217,194 million as of September 30, 2025, from $202,586 million at the end of 2024[25] Research and Development - The company has invested $404 million in research and development for Q3 2025, a decrease from $2,212 million in Q3 2024, indicating a strategic shift in spending[23] - The company incurred $5,293 in stock-based compensation for the nine months ended September 30, 2025, down from $9,448 in 2024, a decrease of 44%[27] Digital Assets - The acquisition of digital assets amounted to $47,250 in 2025, indicating a strategic investment in digital growth[27] - The company reported a change in fair value of digital assets of $10,480, reflecting positive market conditions[27] - Proceeds from the issuance of convertible notes, net of issuance costs, were $52,533 in 2025, compared to $4,756 in 2024, showing a significant increase in financing through convertible debt[27]