Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x 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 o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-40143 Better Home & Finance Holding Company (State or other jurisdiction of incorporation or organization) 1 World Trade Center 285 Fulton S ...

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 (855) 508-3568 Registrant's telephone number, including area code Securities registered pursuant to Section 12(b) of the Act: ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES ACT OF 1934 For the transition period from ________ to ________ Commission file ...

Financial Performance - The company reported a net loss of $65.6 million for the nine months ended September 30, 2025, compared to a net loss of $55.6 million for the same period in 2024, indicating an increase in losses year-over-year [129]. - As of September 30, 2025, the company had an accumulated deficit of $327.9 million and cash, cash equivalents, and short-term investments totaling $265.4 million [129]. - The net loss for Q3 2025 was $20.953 million, compared to a net loss of $20.217 million in Q3 2024, indicating a 3.6% increase in losses [148]. - For the nine months ended September 30, 2025, the company used $59.7 million in cash for operating activities, reflecting a net loss of $65.6 million [174]. - For the nine months ended September 30, 2024, the company used $53.1 million in cash for operating activities, reflecting a net loss of $55.6 million [175]. - Interest income for Q3 2025 was $2.739 million, an increase of 48.7% from $1.842 million in Q3 2024 [148]. - Other income increased by $1.1 million for the nine months ended September 30, 2025, mainly from state tax refunds [163]. - The company reported net cash provided by financing activities of $9.8 million for the nine months ended September 30, 2025, primarily from open market sales of common stock [178]. Research and Development - The company is developing NGN-401 for the treatment of Rett syndrome, with a registrational trial named Embolden currently evaluating a 1E15 vg dose in 20 female participants [107]. - The primary endpoint for the Embolden trial is a responder-based composite endpoint, with a minimum success threshold of 35% response rate (7 out of 20 patients) to reject the null hypothesis [109]. - Updated interim data from the Phase 1/2 trial showed that all pediatric participants experienced functional gains, with a total of 35 developmental milestones/skills gained across core clinical domains [111]. - The company completed enrollment in a Phase 1/2 clinical trial for NGN-101 in patients with CLN5 Batten disease but decided not to move forward with the program due to the denial of its RMAT application [125]. - The company is in the early discovery stage for additional potential programs utilizing its EXACT platform for complex neurological diseases [124]. - The company expects significant increases in research and development expenses over the next several years due to expanded clinical trials and personnel costs [139]. - Research and development expenses for Q3 2025 were $17.241 million, an increase of 5.9% from $16.285 million in Q3 2024 [148]. - For the nine months ended September 30, 2025, research and development expenses totaled $54.4 million, up 19.3% from $45.6 million in the same period of 2024 [153]. - The increase in Rett syndrome program expenses included a $2.1 million rise in preclinical costs and a $4.0 million increase in clinical trial costs for NGN-401 [154]. - The company anticipates continued increases in research and development and general and administrative expenses as it advances clinical development [156][159]. Operating Expenses - General and administrative expenses for Q3 2025 were $6.557 million, up 11.2% from $5.895 million in Q3 2024 [148]. - For the nine months ended September 30, 2025, general and administrative expenses reached $21.4 million, up 30.2% from $16.4 million in the same period of 2024 [158]. - Total operating expenses for the nine months ended September 30, 2025, were $75.799 million, compared to $62.018 million for the same period in 2024, reflecting a 22.2% increase [148]. Capital and Funding - The company has raised aggregate net proceeds of approximately $552.3 million since its inception, primarily through the sale of preferred and common stock [129]. - The company expects to require substantial additional capital to support ongoing operations and product development [168]. - The company has federal and state net operating loss carryforwards of $319.8 million and $39.6 million, respectively, which may offset future taxable income [146]. Regulatory and Compliance - The company received FDA clearance for its Investigational New Drug (IND) application for NGN-401 in January 2023 [108]. - The collaboration agreement with the University of Edinburgh was amended and extended through December 2026 to support pipeline development [132]. - The company has no products approved for sale and may never achieve regulatory and marketing approval for its product candidates [130]. - The company has no off-balance sheet arrangements as defined by SEC rules [195]. - The company’s financial statements are prepared in accordance with U.S. GAAP, with no material changes to significant accounting policies during the nine months ended September 30, 2025 [196]. Facilities and Lease Obligations - The company established a fully operational cGMP facility in Houston, Texas, to manufacture products for research and clinical studies, enhancing control over product quality and development timelines [126]. - The company has a lease obligation for its New York headquarters expiring in January 2028, covering approximately 6,000 square feet [181]. - The company has a lease for a manufacturing facility in Houston, Texas, expiring in August 2029, with an option to renew for two additional five-year terms [182]. - The company entered into a License Agreement with the University of Edinburgh, which includes obligations of up to $5.3 million in regulatory-related milestones and up to $25 million in sales-related milestones [191]. Contingent Liabilities - The total contingent value rights (CVR) liability as of September 30, 2025, was $1.1 million, compared to $1.8 million as of December 31, 2024 [188].

Financial Performance - Total revenue for fiscal 2025 was $2,371.6 million, up from $2,330.2 million in fiscal 2024, reflecting a growth of 1.8%[156] - Net income (GAAP) for the fiscal year ended September 30, 2025, was $45,588 thousand, a decrease of 67.5% from $140,175 thousand in 2024[158] - Adjusted EBITDA (Non-GAAP) for the fiscal year ended September 30, 2025, was $157,719 thousand, down 35.5% from $243,418 thousand in 2024[158] - Homebuilding revenue for the fiscal year ended September 30, 2025, was $2,302,630 thousand, a slight increase of 0.4% from $2,292,984 thousand in 2024[166] - Homebuilding gross profit decreased by $84.2 million to $329.4 million for the fiscal year ended September 30, 2025, compared to $413.6 million in the prior year, with a gross margin decline of 370 basis points to 14.3%[172] - Operating income for the total homebuilding segment was $36.6 million for the fiscal year ended September 30, 2025, a decrease of $106.4 million compared to the prior year[181] - Net cash provided by operating activities was $32.0 million for the fiscal year ended September 30, 2025, driven by income before income taxes of $40.9 million[192] Land Acquisition and Development - Beazer Homes spent $491.9 million on land acquisition and $192.0 million on land development in fiscal 2025, compared to $507.8 million and $268.7 million in fiscal 2024, respectively[41] - The company controls a total of 25,660 lots, including 10,287 lots held for sale and 3,663 lots under development as of September 30, 2025[46] - The total remaining purchase price under all land option agreements was $1.61 billion, with non-refundable amounts incurred totaling $333.4 million[43] - The company expects to exercise substantially all of its option agreements, subject to market conditions and seller satisfaction of contract terms[44] - The company invested $684.0 million in land acquisition and development during fiscal 2025, an 11.9% decrease from $776.5 million in fiscal 2024[153] Market Conditions and Challenges - Demand for homes softened during fiscal 2025 due to elevated interest rates, despite multiple rate cuts by the Federal Reserve[74] - Elevated mortgage interest rates negatively affect home affordability, impacting consumer purchasing power and potentially reducing revenues and earnings[77] - The enactment of H.R. 1 limits annual deductions for real estate property taxes and mortgage interest, potentially reducing homeownership affordability[79] - Competition in the homebuilding industry is intense, with many competitors having greater financial resources, which could impact market share and pricing[82] - Cancellation rates during fiscal 2025 remained within historical norms, but significant cancellations could adversely affect sales revenue and inventory levels[83] Sales and Orders - Net new orders for fiscal 2025 were 3,890, a decrease of 7.8% from 4,221 in the prior year, with orders per community per month dropping to 2.0 from 2.4[153] - The backlog reflects 945 homes with a dollar value of $516.5 million as of September 30, 2025, compared to 1,482 homes valued at $797.2 million in 2024[50] - The average selling price (ASP) in backlog increased to $546.5 thousand as of September 30, 2025, up from $537.9 thousand in 2024[50] Employee and Corporate Culture - The company employs 1,018 persons, including 261 in sales and marketing and 207 in construction as of September 30, 2025[64] - The company is committed to fostering a culture of inclusivity and employee engagement through various programs and benefits[67] Financial Position and Debt - The total debt to total capitalization ratio was 45.2% as of September 30, 2025, down 20 basis points from the prior year, indicating improved capital allocation strategies[148] - The company has significant restrictions imposed by its debt agreements, which could limit its ability to incur additional debt and affect financial flexibility[108] - The company's credit ratings and access to capital could be adversely affected by negative changes, impacting liquidity and borrowing costs[107] Risks and Liabilities - The company is facing potential liabilities from construction defect, product liability, and warranty claims, which are common in the homebuilding industry[95] - Insurance coverage for construction defects is becoming increasingly expensive and may not be adequate to cover all liabilities, potentially impacting financial condition[99] - Cybersecurity breaches and IT failures pose risks that could disrupt operations and result in significant financial liabilities[104] - Global economic and political instability could adversely affect the supply chain and overall business operations, impacting financial performance[105] Sustainability and Energy Efficiency - Beazer Homes achieved its goal of building 100% Zero Energy Ready homes in fiscal 2025, qualifying for an Energy-Efficiency Tax Credit of $5,000 per home[91] - The Inflation Reduction Act of 2022 increased Energy-Efficiency Tax Credits, but future credits may be disallowed after June 30, 2026, impacting tax expenses[92] - The evolving legal and regulatory landscape regarding sustainability could entail significant costs and affect the company's ability to meet stakeholder expectations[103] Shareholder Actions - Approximately 5% of outstanding shares were repurchased during fiscal 2025 for an aggregate purchase price of $33.1 million, with remaining authorization to purchase up to $87.5 million[118] - The Company approved a new share repurchase program authorizing up to $100.0 million, replacing a prior program with $8.3 million remaining[205] - The Company has not paid any dividends during fiscal years 2025, 2024, or 2023, and future dividends will depend on financial condition and Board decisions[136]

Revenue Performance - SeaStar Medical reported a revenue of $0.9 million from the sale of QUELIMMUNE since receiving FDA approval in February 2024, with the first commercial units shipped in July 2024[149]. - For the three months ended September 30, 2025, revenue increased by 169% to $183,000 compared to $68,000 in the same period in 2024[159]. - Revenue for the nine months ended September 30, 2025, increased to $814,000, a 1097% increase compared to $68,000 for the same period in 2024[166]. - Gross profit for the nine months ended September 30, 2025, was $773,000, up 1037% from $68,000 in 2024[166]. Expenses and Losses - The company incurred a net loss of $3.472 million for the three months ended September 30, 2025, a decrease of 23% from a net loss of $4.478 million in the same period in 2024[159]. - Research and development expenses decreased by 21% to $1.85 million for the three months ended September 30, 2025, compared to $2.336 million in the same period in 2024[159]. - General and administrative expenses decreased by 13% to $1.898 million for the three months ended September 30, 2025, compared to $2.188 million in the same period in 2024[159]. - The total operating expenses for the three months ended September 30, 2025, were $3.748 million, a reduction of 17% from $4.524 million in the same period in 2024[159]. - Net loss for the nine months ended September 30, 2025, was approximately $9.2 million, a reduction of 55% compared to a net loss of $20.4 million in 2024[172]. - Total operating expenses for the nine months ended September 30, 2025, were $9.9 million, a decrease of 24% from $13.1 million in 2024[166]. Cash and Financial Position - As of September 30, 2025, the company had cash reserves of $13.8 million, a significant increase from $1.8 million as of December 31, 2024[145]. - The accumulated deficit as of September 30, 2025, was $148.8 million, up from $139.6 million as of December 31, 2024[144]. - The company recorded no provision for income taxes for the three months ended September 30, 2025, and September 30, 2024[164]. - Net cash used in operating activities for the nine months ended September 30, 2025, was $9.5 million, a decrease of $1.8 million compared to $11.3 million for the same period in 2024[182]. - Net cash provided by financing activities for the nine months ended September 30, 2025, was $21.5 million, primarily from the issuance of new shares of common stock ($14.3 million) and proceeds from pre-funded warrants ($5.9 million)[183]. Clinical Development and Future Outlook - The company is conducting a pivotal clinical trial for its adult SCD therapy, which is crucial for future revenue generation[150]. - SeaStar Medical's SCD therapy has the potential to address a market of over one million patients annually facing life-threatening hyperinflammatory conditions[143]. - The company expects to incur significant expenses for the clinical development of its adult SCD and commercialization of QUELIMMUNE, necessitating additional funding[179]. - The company anticipates that its future funding requirements will depend on the progress of clinical trials and regulatory approvals[179]. Concerns and Commitments - The company has raised concerns about its ability to continue as a going concern due to insufficient cash to meet working capital and capital expenditure requirements for at least twelve months[175]. - As of September 30, 2025, the company has unused available capacity on the ATM Facility that allows for potential capital raising of approximately $2.2 million[176]. - The company does not plan to include potential cash proceeds from the exercise of warrants in its liquidity projections as of the date of the Quarterly Report[178]. - The company has no contractual obligations or commitments outstanding as of September 30, 2025[181]. - The company is classified as an emerging growth company under the JOBS Act, allowing it to delay compliance with certain accounting standards[187].

Financial Performance - Revenue for the three months ended September 30, 2025, was $534,000, a 68.7% increase from $317,000 in the same period of 2024[21] - Operating expenses for the three months ended September 30, 2025, totaled $29,739,000, up from $13,991,000 in the prior year, representing a 112.5% increase[21] - Research and development expenses increased to $6,151,000 for the three months ended September 30, 2025, compared to $2,533,000 in the same period of 2024, marking a 142.5% rise[21] - The net loss attributable to Innventure, Inc. stockholders for the three months ended September 30, 2025, was $28,332,000, compared to a loss of $2,211,000 in the same period of 2024[21] - Basic and diluted loss per share for the three months ended September 30, 2025, was $(0.51), an improvement from $(0.94) in the prior year[21] - Total comprehensive loss for the three months ended September 30, 2025, was $34,454,000, compared to $10,014,000 in the same period of 2024[21] - The company reported a goodwill impairment of $346,557,000 for the nine months ended September 30, 2025[21] - Interest expense for the three months ended September 30, 2025, was $3,401,000, significantly higher than $852,000 in the same period of 2024[21] - The total operating expenses for the nine months ended September 30, 2025, were $434,211,000, compared to $36,256,000 in the same period of 2024, reflecting a substantial increase[21] - The net loss for the nine months ended September 30, 2025, was $429.684 million, compared to a net loss of $26.481 million for the same period in 2024, indicating a significant increase in losses[29] - Cash used in operating activities for the nine months ended September 30, 2025, was $56.328 million, up from $18.647 million in the prior year[29] - The company recognized an EBITDA loss of $412.499 million for the nine months ended September 30, 2025, compared to a loss of $25.035 million for the same period in 2024[33] Assets and Liabilities - Innventure reported total assets of $556.5 million as of September 30, 2025, down from $905.3 million at the end of 2024[18] - Cash and cash equivalents decreased to $9.1 million from $11.1 million at the end of 2024[18] - Accounts receivable increased significantly to $1.6 million from $283,000 at the end of 2024[18] - Total current liabilities rose to $82.5 million from $69.3 million at the end of 2024[18] - The accumulated deficit increased to $333.8 million from $78.3 million at the end of 2024[18] - Total stockholders' equity decreased to $406.6 million from $766.3 million at the end of 2024[18] - The company reported an accumulated deficit of $333.844 million as of September 30, 2025[27] - The total stockholders' equity increased to $525.745 million as of March 31, 2025, up from $766.293 million as of December 31, 2024[27] - The total number of common shares outstanding increased to 56,220,158 as of September 30, 2025[27] Financing Activities - The company issued 481,325 common shares, net of issuance costs, raising $2.625 million during the period[27] - The issuance of Series C Preferred Stock generated $5.663 million in net proceeds[27] - The company issued $36 million in debt securities, net of issuance costs, during the nine months ended September 30, 2025[29] - The net cash flows provided by financing activities were $63.349 million for the nine months ended September 30, 2025, compared to $38.191 million in the prior year[29] Strategic Developments - Accelsius secured a strategic investment from Johnson Controls and introduced the NeuCool® MR250 system, with a sales pipeline exceeding $1 billion[2] - AeroFlexx achieved its 5th consecutive quarter of revenue generation, expanding its customer pipeline in the U.S. and Europe[2] - Refinity is on track to demonstrate pilot scale and finalize initial site selection for its first plant by year-end 2025[2] - Innventure aims to unlock value through advancements in its operating companies and a high-quality pipeline of technology opportunities[3] Cash Flow and Expenses - The cash flow statements indicate significant cash movements, reflecting ongoing operational adjustments and financing activities[28] - Stock-based compensation expenses amounted to $7.725 million for the quarter ending September 30, 2025[27] - Stock-based compensation expenses increased to $22.972 million for the nine months ended September 30, 2025, compared to $1.056 million in the same period of 2024[35] - Cash paid for interest increased to $2.551 million for the nine months ended September 30, 2025, from $1.070 million in the previous year[31] - The company reported a change in fair value of financial liabilities of $(19.496) million for the nine months ended September 30, 2025[35]

Financial Performance - For the three months ended September 30, 2025, total revenues were $18.4 million, compared to $12.6 million for the same period in 2024, representing a year-over-year increase of 46%[57]. - Revenues for the three months ended September 30, 2025, were $18,359,000, a 46.0% increase from $12,604,000 in 2024; for the nine months ended September 30, 2025, revenues were $52,461,000, up 41.7% from $37,000,000 in 2024[92]. - The Company recognized $10.1 million in revenues for the nine months ended September 30, 2025, related to amounts deferred as of December 31, 2024[60]. - Direct-to-Consumer revenue for the three months ended September 30, 2025, was $5.7 million, accounting for 31% of total revenue, down from 62% in the same period of 2024[57]. - Revenue from the United States accounted for 84% of total revenue in Q3 2025, up from 60% in Q3 2024; for the nine months ended September 30, 2025, it was 78%, compared to 61% in 2024[92]. Cash and Investments - The company's cash and cash equivalents increased to $14,108,000 as of September 30, 2025, compared to $7,826,000 as of December 31, 2024, representing an increase of 80.5%[49]. - The total investments in debt securities amounted to $28,490,000 as of September 30, 2025, with Level 1 securities valued at $12,086,000 and Level 2 securities at $16,404,000[49]. - The company recorded restricted cash of $60,000 as of September 30, 2025, down from $125,000 as of December 31, 2024[49]. - The fair value of Private Placement Warrants was reported as $0 as of September 30, 2025, down from $88,000 as of December 31, 2024[56]. - The stock price of the Company was $5.30 as of September 30, 2025, compared to $1.53 as of December 31, 2024, reflecting a significant increase[74]. Losses and Expenses - The Company reported a net loss of $3.744 million for the three months ended September 30, 2025, compared to a net loss of $3.062 million for the same period in 2024[76]. - Operating loss for the three months ended September 30, 2025, was $(4,491,000), compared to $(3,252,000) in 2024; for the nine months ended September 30, 2025, the operating loss was $(3,932,000), an improvement from $(9,455,000) in 2024[92]. - The Company recognized $6.977 million in stock-based compensation expense related to RSUs for the three months ended September 30, 2025, compared to $2.720 million in 2024[89]. - Accrued expenses and other liabilities increased to $12.3 million as of September 30, 2025, from $7.0 million as of December 31, 2024[55]. Content and Assets - As of September 30, 2025, total content assets amounted to $28.1 million, a decrease from $31.5 million as of December 31, 2024[52]. - Content amortization for the three months ended September 30, 2025, was $3.6 million, compared to $4.6 million for the same period in 2024[54]. - Content obligations amounted to $0.4 million as of September 30, 2025, with $0.1 million recorded within content liabilities[100]. Future Expectations and Commitments - The Company expects to recognize $3.1 million in future revenues related to unsatisfied performance obligations as of September 30, 2025[58]. - Future advertising commitments totaled $1.8 million as of September 30, 2025, expected to be paid in Q1 2026[103]. - The Company expects to no longer qualify as an emerging growth company after December 31, 2025, which will affect its accounting pronouncements adoption timeline[36]. - The company anticipates that the adoption of ASU 2023-09 will not have a material impact on its consolidated financial statement disclosures[37]. - The company is currently evaluating the impact of adopting ASU 2024-03, which requires additional disclosures about specific expense categories[38]. Shareholder Actions - The Board declared a quarterly cash dividend of $0.08 per share, totaling approximately $4.7 million, to be paid on December 19, 2025[107]. - The Company had repurchased 216,000 shares of its common stock at an average price of $1.16 per share, totaling $0.3 million[68]. - The total number of outstanding warrants as of September 30, 2025, was 6,730,000, with no exercises during the three and nine months ended[72]. - The Company had 4,410,000 RSUs outstanding as of September 30, 2025, compared to 2,864,000 in 2024[78]. - The Company had an unrecognized compensation cost of $9.0 million expected to be recognized over approximately five to six months as of September 30, 2025[81].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q _____________________ (MARK ONE) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2025 o 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: 001-39139 CURIOSITYSTREAM INC. (Exact Name of Registrant as Specified ...

Financial Performance - The company generated a net income of $10.1 million for the nine months ended September 30, 2025[137]. - Operating revenues for the three months ended September 30, 2025, were $43.4 million, a decrease from $45.1 million in the same period of 2024, primarily due to lower average realized prices[164]. - Oil, natural gas, and NGLs revenues decreased to $133.3 million for the nine months ended September 30, 2025, down from $143.7 million in 2024, primarily due to lower average realized prices and production volumes[165]. - Average production was 12,396 Boe per day for the nine months ended September 30, 2025, compared to 12,639 Boe per day in 2024, reflecting a decrease in production[165]. - Average daily production for the three months ended September 30, 2025, was 12,293 Boe, compared to 12,076 Boe for the same period in 2024[164]. - Net derivative gain for the nine months ended September 30, 2025, was $26.0 million, compared to $3.9 million in 2024[176]. Financial Position - The company had negative working capital of $3.9 million at September 30, 2025[139]. - The company continues to report negative stockholders' equity of $(20.3) million as of September 30, 2025, along with ongoing losses from continuing operations[144]. - As of March 31, 2025, the company reported stockholders' equity of $(1.8) million, failing to meet NYSE American's listing standards requiring $2 million or more due to losses in three of the last four fiscal years[144]. - The company had $50.5 million in cash and cash equivalents as of September 30, 2025[139]. Debt and Liabilities - The company is required to maintain an Asset Coverage Ratio of at least 1.85x through December 31, 2026[138]. - The Total Net Leverage Ratio must not exceed 2.50x as of September 30, 2025[138]. - The company is required to make total debt repayments of $22.5 million through September 2026 under its 2024 Amended Term Loan Agreement[150]. - Scheduled amortization payments under the 2024 Amended Term Loan Agreement total $5.6 million for the remainder of 2025 and $22.5 million in 2026[132]. - The company recognized a loss on extinguishment of debt amounting to $7.5 million for the year ended December 31, 2024[133]. - Interest expense totaled $20.0 million for the nine months ended September 30, 2025, slightly up from $19.8 million in 2024, with a weighted average interest rate of approximately 12.20%[177]. Operational Activities - For the nine months ended September 30, 2025, cash flows provided by operating activities increased to $50.9 million from $28.7 million in the same period of 2024, driven by changes in working capital[153]. - Net cash flows used in investing activities for the nine months ended September 30, 2025, were approximately $70.0 million, primarily for drilling and completion activities[154]. - The company spent $69.6 million on oil and natural gas capital expenditures during the nine months ended September 30, 2025, with $59.9 million allocated to drilling and completion costs[155]. Cost Management - Lease operating expenses for the nine months ended September 30, 2025, were $33.4 million, slightly down from $34.2 million in 2024, with a per unit cost of $9.88 per Boe[166]. - Workover and other expenses increased to $4.6 million for the nine months ended September 30, 2025, up from $3.1 million in 2024, with a per unit cost of $1.35 per Boe[167]. - Taxes other than income were $7.9 million for the nine months ended September 30, 2025, down from $8.9 million in 2024, with a per unit cost of $2.35 per Boe[168]. - Gathering and other expenses decreased to $33.2 million for the nine months ended September 30, 2025, from $41.9 million in 2024, with a per unit cost of $9.80 per Boe[169][171]. - General and administrative expenses were $10.0 million for the nine months ended September 30, 2025, down from $11.1 million in 2024, with a per unit cost of $2.96 per Boe[172]. Strategic Initiatives - The company is exploring strategic transactions to improve liquidity and reduce expenses[143]. - The cessation of operations at the WAT facility has increased processing costs and decreased production and revenue[134]. - The company hedges approximately 85% to 50% of its anticipated oil and natural gas production on a rolling basis for the next four years[131].

Exhibit 99.1 BIO GREEN MED SOLUTION REPORTS THIRD QUARTER FINANCIAL RESULTS AND PROVIDES BUSINESS UPDATE KUALA LUMPUR, MALAYSIA, November 13, 2025 – Bio Green Med Solution, Inc. (NASDAQ: BGMS, NASDAQ: BGMSP; "BGMS" or the "Company" (formerly Cyclacel Pharmaceuticals, Inc.)), a diversified company engaged primarily in the provision of fire safety protection and distribution activities, today announced third quarter financial results and provided a business update. Highlights of the third quarter ended Septem ...