Financial Performance - Xos delivered 130 units in Q3 2025, generating $16.5 million in revenue, compared to 135 units and $18.4 million in Q2 2025[2] - Total revenues for Q3 2025 were $16,500,000, a 4.5% increase from $15,790,000 in Q3 2024[21] - Gross profit for Q3 2025 was $2,531,000, down 11.6% from $2,864,000 in Q3 2024[21] - The net income for Q3 2025 was $2,123,000, compared to a net loss of $10,512,000 in Q3 2024[21] - Free cash flow for Q3 2025 was $3,077,000, a significant improvement from a negative free cash flow of $11,665,000 in Q3 2024[22] Cost Management - Operating expenses decreased by $3.0 million, or 24% year-over-year, highlighting cost discipline[2] - Operating expenses decreased to $9,525,000 in Q3 2025 from $12,555,000 in Q3 2024, a reduction of 24.2%[21] - The strategic termination of the Mesa, Arizona manufacturing facility lease is expected to save $20.7 million through 2033[6] Liquidity and Cash Flow - Positive free cash flow of $3.1 million was achieved, marking the second consecutive quarter of positive free cash flow[2] - Cash and cash equivalents increased to $14.1 million in Q3 2025, up from $8.8 million in Q2 2025[3] - Xos amended its $20 million Convertible Note to enhance liquidity and extend financial runway[6] - The company raised $2.4 million under its at-the-market offering program, reinforcing liquidity[6] Operational Losses - Operating loss was $7.0 million in Q3 2025, slightly improved from a loss of $7.1 million in Q2 2025[2] - The company reported a loss from operations of $6,994,000 in Q3 2025, an improvement from a loss of $9,691,000 in Q3 2024[21] - Non-GAAP operating loss for Q3 2025 was $4,767,000, compared to $6,643,000 in Q3 2024, reflecting a 28.2% improvement[22] Balance Sheet - Total assets decreased to $73,810,000 as of September 30, 2025, down from $98,333,000 at December 31, 2024[20] - Total liabilities decreased to $42,750,000 as of September 30, 2025, down from $64,723,000 at December 31, 2024[20] - Stockholders' equity decreased to $31,060,000 as of September 30, 2025, compared to $33,610,000 at December 31, 2024[20] Future Outlook - Xos maintains its 2025 revenue outlook of $50.2 to $65.8 million and unit delivery forecast of 320 to 420 units[7] - Gross margin improved to 15.3% in Q3 2025, up from 8.8% in Q2 2025, despite a decrease from 18.1% in Q3 2024[2]

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: 001-38634 Reviva Pharmaceuticals Holdings, Inc. (Exact name of registrant as specified in its charter) incorporation ...

Financial Estimates - Estimated total revenue for Q3 2025 is approximately $3.4 million[4] - Estimated cash and cash equivalents as of September 30, 2025, are approximately $21.6 million[4] Product Development and Rollout - Successful commercial rollout of the next generation Swoop® system powered by Optive AITM software, with strong traction building[9] - Entirety of the Company's U.S. hospital pipeline converted to next generation Swoop® systems[9] - Next generation Swoop® systems placed across all key hospital sites of care, including Adult Critical Care, Pediatric Critical Care, and Emergency Department[9] - Initiated full-scale commercial launch in office settings to unlock new revenue opportunities[9] - Commenced commercial rollout of Optive AITM software to installed base of Swoop® scanners in the U.S., Canada, Australia, and New Zealand markets[9]

Financial Performance - The net loss for the nine months ended September 30, 2025, was $89,801,000, compared to a net loss of $125,457,000 for the same period in 2024, representing a 28.5% improvement[19] - The company reported a basic net loss per share of $0.47 for the three months ended September 30, 2025, compared to $0.56 for the same period in 2024, reflecting a 16.1% improvement[19] - For the nine months ended September 30, 2025, the net loss was $89.8 million, an improvement from a net loss of $125.5 million in the same period of 2024, representing a 28.5% reduction[24] - The company recorded a net loss from discontinued operations of $9.674 million for the three months ended September 30, 2025[130] Assets and Liabilities - Total current assets decreased from $134,120,000 in December 2024 to $71,805,000 in September 2025, a decline of approximately 46.5%[16] - The total liabilities increased from $277,079,000 in December 2024 to $185,706,000 in September 2025, indicating a reduction in the company's debt obligations[16] - The total shareholders' deficit increased from $182,609,000 in December 2024 to $220,478,000 in September 2025, indicating a worsening financial position[16] - Cash and cash equivalents decreased from $3,400,000 in December 2024 to $2,395,000 in September 2025, a decline of approximately 29.5%[16] - The company had cash, cash equivalents, and short-term investments of $36.1 million as of September 30, 2025[40] Expenses - Research and development expenses for the three months ended September 30, 2025, were $15,995,000, down 33.8% from $24,084,000 in the same period of 2024[19] - Selling, general and administrative expenses for the three months ended September 30, 2025, were $10,397,000, a decrease of 8.2% from $11,323,000 in the same period of 2024[19] - Total stock-based compensation for the nine months ended September 30, 2025, was $6.5 million, down from $8.1 million in the same period of 2024[150] - Selling, general and administrative expenses for the nine months ended September 30, 2025, were $31.865 million, down from $37.395 million in the prior year, primarily due to reduced employee compensation expenses[205] Debt and Financing - The company has an ATM equity offering facility allowing for proceeds of up to $150.0 million, with net proceeds of $9.0 million and $15.3 million received during the three and nine months ended September 30, 2025, respectively[46] - The company reduced the aggregate principal balance of its 2026 Notes from $97.9 million to $17.1 million through a Convertible Note Exchange and an Equitization Transaction[56] - The company has an outstanding Term Loan of $67.1 million, secured by a first-priority security interest in its tangible and intangible property[105] - The anticipated transaction with Novo Nordisk is expected to provide $240.0 million in upfront cash, which will be used to repay the Term Loan[108] - The company recorded a premium of $29.3 million related to the repurchase of 2026 Notes, which is amortized as a reduction of term debt and interest expense[53] Clinical Development and Regulatory - The BLA for narsoplimab in TA-TMA was resubmitted to the FDA in March 2025, with a target action date extended to December 26, 2025[34] - The company has completed two Phase 2 clinical trials for zaltenibart in paroxysmal nocturnal hemoglobinuria (PNH) and is transitioning ongoing programs to Novo Nordisk[30][31] - The company is developing zaltenibart for PNH and C3G, with two Phase 2 trials substantially completed[164] - The company submitted a Marketing Authorization Application for narsoplimab in the EU, expecting an opinion by mid-2026[159] Cash Flow and Operations - Cash used in operating activities for the nine months ended September 30, 2025, was $76.3 million, down from $119.8 million in the prior year[24] - The company maintained a balance of unrestricted cash above $25.0 million, complying with debt covenants throughout the reporting period[41] - The company is unable to estimate long-term costs for the continued development of product candidates due to the unpredictable nature of clinical development activities[203] Future Expectations - The company expects to repay all outstanding obligations related to the Term Loan upon closure of the transaction with Novo Nordisk, anticipated in Q4 2025[128] - The company anticipates that research and development expenses in the fourth quarter of 2025 will be comparable to those in the third quarter[201] - The company expects selling, general and administrative expenses in the fourth quarter of 2025 to be higher than in the third quarter, mainly due to increased marketing expenses for the anticipated launch of narsoplimab[207] - The company expects interest expense for the fourth quarter of 2025 to be higher compared to the third quarter, assuming no remeasurement adjustment to the OMIDRIA contract royalty obligation[213]

Licensing and Partnerships - Vaxart entered into an exclusive license agreement with Dynavax for its COVID-19 oral pill vaccine candidate, with potential cumulative proceeds of up to $700 million plus royalties[1]. - Vaxart received an upfront license fee of $25 million from Dynavax, along with a $5 million equity investment, enhancing its financial position[4]. - The company is exploring partnership opportunities for its norovirus, HPV, and flu vaccine programs, which have shown promising data in preclinical and clinical studies[3][6]. Clinical Trials and Research - Approximately 5,400 participants have been enrolled in the COVID-19 Phase 2b trial, with topline data expected in late 2026 and data from a 400-person sentinel cohort anticipated in the first quarter of 2026[1][6]. - The company showcased positive topline results from its Phase 1 trial for the second-generation oral norovirus vaccine, indicating stronger antibody responses compared to first-generation constructs[3][6]. Financial Performance - Revenue for the third quarter of 2025 was $72.4 million, a significant increase from $4.9 million in the same quarter of 2024, primarily from government contracts[6][15]. - Research and development expenses rose to $75.9 million in Q3 2025, compared to $15.1 million in Q3 2024, mainly due to increased clinical trial expenses[6][15]. - Vaxart reported a net loss of $8.1 million for Q3 2025, an improvement from a net loss of $14.1 million in Q3 2024, with a net loss per share of $0.04 compared to $0.06[6][15]. - Cash, cash equivalents, and investments totaled $28.8 million as of September 30, 2025, with a current runway extended into the second quarter of 2027[1][6]. - Total assets increased to $208.99 million as of September 30, 2025, compared to $166.39 million at the end of 2024[13].

Financial Performance - Revenue for Q3 2025 was $81 thousand, up 102.5% from $40 thousand in Q3 2024, driven by sales of OTFT backplanes and TRUFLEX® materials[5] - Loss from operations for Q3 2025 was $3.1 million, compared to $2.8 million in Q3 2024, indicating a 10.7% increase in losses[5] - The net loss attributed to common stockholders for Q3 2025 was $3.9 million, compared to $2.8 million in Q3 2024, a 37.8% increase[14] Operating Expenses - Operating expenses increased to $2 million in Q3 2025 from $1.5 million in Q3 2024, reflecting a 33.3% rise[5] - Research and development expenses for Q3 2025 were $2.1 million, up from $1.5 million in Q3 2024, a 37% increase[14] Cash and Assets - Cash and cash equivalents decreased to $0.9 million as of September 30, 2025, down from $7.1 million as of December 31, 2024[5] - The total assets decreased to $3.2 million as of September 30, 2025, from $8.9 million as of December 31, 2024[11] Strategic Initiatives - The company signed a non-binding Letter of Intent with Jericho Energy Ventures to establish a U.S.-owned, AI-focused infrastructure company[5] Intellectual Property - Smartkem has an extensive IP portfolio with 140 granted patents across 17 patent families, 14 pending patents, and 40 codified trade secrets[7] Financing - The company obtained $1 million in bridge financing on October 31, 2025, secured by all assets of the company and its subsidiaries[5]

Financial Performance - For the three months ended September 30, 2025, net revenue decreased by $2.7 million, or 16%, to $13.9 million compared to $16.6 million for the same period in 2024[127]. - Gross profit for the same period decreased by $2.8 million, or 23%, to $9.2 million, with a gross profit percentage of 66% compared to 72% in 2024[129]. - The ADHD Portfolio generated $13.2 million in revenue, down from $15.3 million, a decrease of $2.1 million, while the Pediatric Portfolio revenue fell to $0.7 million from $1.3 million[128]. Expenses - Selling and marketing expenses decreased by $0.3 million, or 6%, to $5.3 million, primarily due to reduced commission expenses[130]. - General and administrative expenses decreased by $0.2 million, or 4%, to $4.9 million, attributed to cost reduction efforts[131]. - Research and development expenses were zero for the three months ended September 30, 2025, compared to $0.4 million in the same period in 2024, due to the suspension of development programs[133]. - Interest expense decreased by $0.5 million, or 48%, to $0.5 million, primarily due to the paydown of fixed payment arrangements[137]. Gains and Collaborations - The company recognized a gain of $3.8 million from derivative warrant liabilities for the three months ended September 30, 2025, compared to $2.9 million in 2024[138]. - The company anticipates launching EXXUA, a new antidepressant, in the second quarter of fiscal 2026, which is expected to be a major growth catalyst[120]. - The company has entered into exclusive collaboration agreements for ADHD products in Israel and Canada, with local partners responsible for regulatory approvals and marketing[123]. Financing Activities - The company filed a shelf registration statement covering the offering of up to $100.0 million of various securities, with $100.0 million remaining available as of the report date[142]. - In June 2025, the company raised gross proceeds of $16.6 million from the issuance of 2,806,688 shares of common stock at $1.50 per share and 8,233,332 prefunded warrants[143]. - Net cash provided by financing activities was $2.3 million for the three months ended September 30, 2025, primarily from $5.8 million of net proceeds from the Eclipse Revolving Loan[151]. Cash Flow and Debt - During the three months ended September 30, 2025, net cash used in operating activities was $0.6 million, an improvement of $572,000 compared to $1.2 million in the same period of 2024[146][148]. - The Eclipse Term Loan has an outstanding principal amount of $13.0 million with an interest rate of SOFR plus 7.0%, maturing on June 12, 2029[145]. - The Eclipse Revolving Loan has a maximum borrowing base of $14.5 million at an interest rate of SOFR plus 4.5%[145]. - The company had no remaining fixed payment arrangement accruals related to the acquisition of pediatric products from Cerecor, Inc. as of September 30, 2025[155]. - The company reported a decrease in accrued liabilities and an increase in accounts receivable, impacting cash flows during the three months ended September 30, 2025[148]. - There was no net cash provided by or used in investing activities during the three months ended September 30, 2025[150]. - The company has not entered into any off-balance sheet arrangements that could materially affect its financial condition[158].

– Secures Convertible Debt Financing; Initial Tranche of $15 Million in Cash With Option to Raise Additional Capital Up to $90 Million Total to Maintain Healthy Cash Floor and Fund Growth – – Executes Non-Binding Term Sheet for an Additional $20 Million of Equipment Financing, Bringing Total CapFormer Equipment Financing to Approximately $30 Million – – Maintains Revenue and Run-Rate Adjusted EBITDA Guidance, Strong Customer Demand, and CapFormer Build-Out Timeline – accordance with our 'water first' growth ...

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: 001-42127 CENTURION ACQUISITION CORP. (Exact Name of Registrant as Specified in Its Charter) Cayman Islands N/A (State or other ju ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 For the transition period from to Commission file number: 001-42127 CENTURION ACQUISITION CORP. (Exact Name of Registrant as Specified in Its Charter) Cayman Islands N/A (State or other jurisdiction of incorporation or organization) 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 ...