Exhibit 99.1 Omeros Corporation Reports Third Quarter 2025 Financial Results – Conference Call Today at 4:30 p.m. ET SEATTLE, WA – November 13, 2025 – Omeros Corporation (Nasdaq: OMER) today announced recent highlights and developments as well as financial results for the third quarter ended September 30, 2025, which include: The upfront cash of $240.0 million payable at closing, together with cash on hand, is expected to provide sufficient capital to (i) fund the repayment at the closing of all outstanding ...

Clinical Trials and Development - The Phase 2b CORAL trial for Haduvio demonstrated statistically significant reductions in 24-hour cough frequency of 60.2% (p<0.0001), 53.4% (p<0.0001), and 47.9% (p<0.01) for the 108 mg BID, 54 mg BID, and 27 mg BID dose groups, respectively, compared to a placebo reduction of 16.9%[135]. - The Phase 2a RIVER trial showed a 67% reduction in 24-hour cough frequency from baseline and a 57% placebo-adjusted reduction (p<0.0001) for Haduvio in patients with refractory chronic cough[144]. - The Phase 2 CANAL trial showed a statistically significant reduction in daytime cough frequency (p<0.0001) and positive results on patient-reported outcomes for Haduvio[141]. - The TIDAL study aims to assess the safety and tolerability of Haduvio in patients with IPF, with data expected in Q4 2025[140]. - The company is also developing Haduvio for chronic cough in patients with non-IPF interstitial lung disease (ILD) and plans to conduct a clinical trial for this indication[143]. - The company plans to conduct multiple clinical trials for Haduvio, including Phase 3 trials for chronic cough in patients with IPF and non-IPF ILD[183]. - The company plans to request an End-of-Phase 2 meeting with the FDA in Q4 2025 and initiate the Phase 3 program for Haduvio in the first half of 2026[139]. Financial Performance - As of September 30, 2025, the company reported an accumulated deficit of $321.5 million due to research and development and administrative expenses[147]. - The company had cash, cash equivalents, and marketable securities totaling $194.9 million as of September 30, 2025, expected to fund operations for at least 12 months[148]. - Research and development expenses for Q3 2025 decreased to $10.1 million from $11.2 million in Q3 2024, primarily due to reduced clinical development expenses[160]. - General and administrative expenses for Q3 2025 increased to $3.8 million from $2.9 million in Q3 2024, mainly due to higher professional fees and personnel-related costs[161]. - Total operating expenses for Q3 2025 were $13.9 million, a slight decrease from $14.1 million in Q3 2024[159]. - Net loss for Q3 2025 was $11.8 million, compared to a net loss of $13.2 million in Q3 2024, reflecting an improvement of $1.4 million[159]. - Research and development expenses for the nine months ended September 30, 2025, were $27.3 million, down from $30.0 million in the same period of 2024[164]. - General and administrative expenses for the nine months ended September 30, 2025, increased to $11.8 million from $9.2 million in the same period of 2024[165]. - Interest income for Q3 2025 was $2.1 million, up from $0.8 million in Q3 2024, driven by higher cash equivalents and marketable securities[162]. - The company raised approximately $115.1 million from the June 2025 Offering of 17.4 million shares at $5.75 per share[168]. - The company has not generated any revenue since inception and has incurred significant operating losses and negative cash flows[167]. - For the nine months ended September 30, 2025, net cash used in operating activities was $34.5 million, resulting from a net loss of $34.4 million[174]. - Net cash used in investing activities for the nine months ended September 30, 2025, was $63.5 million, primarily due to $116.3 million in purchases of available-for-sale marketable securities[176]. - Net cash provided by financing activities for the nine months ended September 30, 2025, was $120.7 million, mainly from cash proceeds of $108.2 million from common stock sales[178]. - The company reported a net increase in cash and cash equivalents of $22.8 million for the nine months ended September 30, 2025, compared to a decrease of $16.3 million in the same period of 2024[173]. - The company’s non-cash charges for the nine months ended September 30, 2025, included stock-based compensation expense of $3.8 million[174]. Future Outlook and Funding Needs - The company anticipates substantial expenditures in the future for the clinical development and commercialization of Haduvio[150]. - The company expects to incur substantial expenditures to advance Haduvio through clinical development and regulatory approval, requiring significant additional funding[181]. - The company believes existing cash, cash equivalents, and marketable securities will fund operations into 2028, but additional capital will be needed for full development and commercialization of Haduvio[186]. - The company has no committed external source of funds and will need to obtain further funding through various means, which may lead to dilution for stockholders[188]. - The company completed a Phase 1 drug-drug interaction study showing no clinically meaningful pharmacokinetic findings when Haduvio was co-administered with pirfenidone or nintedanib[146]. - The safety profile of Haduvio was consistent with previous trials, with discontinuation rates due to adverse events at 5.6% for Haduvio and 5.0% for placebo[142].

Financial Performance - Net loss for the nine months ended September 30, 2025, was CAD 9,687,000, compared to CAD 6,881,000 for the same period in 2024, representing a 40.5% increase in losses[4] - For the three months ended September 30, 2025, Fury Gold reported a net loss of CAD 4,699,000, compared to a net loss of CAD 2,673,000 for the same period in 2024, representing an increase in loss of 75.5%[8] - The total comprehensive loss for the period was CAD 9,693,000, compared to CAD 6,883,000 in the prior year, indicating a 40.5% increase[4] - The company reported a basic and diluted loss per share of CAD 0.06 for the nine months ended September 30, 2025, compared to CAD 0.05 in 2024[4] - For the nine months ended September 30, 2025, the company's share of net loss of associates was $3,634, with Dolly Varden contributing $3,632 and UMS contributing $2[38] - The company incurred a comprehensive loss of $9,693,000 for the nine months ended September 30, 2025, compared to $6,883,000 for the same period in 2024, reflecting a 41% increase[85] Assets and Equity - Total assets increased to CAD 86,629,000 as of September 30, 2025, compared to CAD 85,112,000 at December 31, 2024, reflecting a growth of 1.8%[2] - Total equity rose to CAD 80,638,000 from CAD 78,203,000, reflecting a growth of 3.1%[2] - Mineral property interests increased to CAD 50,176,000 as of September 30, 2025, from CAD 45,200,000 at December 31, 2024, indicating an increase of 6.5%[2] - Accounts receivable increased significantly to CAD 314,000 from CAD 54,000, a rise of 481.5%[2] - The company's principal resource properties had a carrying amount of C$50,176 as of September 30, 2025, after accounting for impairments and additions[31] Cash Flow and Reserves - Cash reserves rose to CAD 6,127,000 from CAD 4,912,000, marking a 24.7% increase[2] - As of September 30, 2025, Fury Gold's cash balance was CAD 6,127,000, an increase from CAD 3,336,000 at the end of the same period in 2024[8] - Cash used in operating activities for the three months ended September 30, 2025, was CAD 5,503,000, compared to CAD 3,348,000 in the same period of 2024, reflecting a 64.2% increase[8] - The company's total cash used in operating activities for the nine months ended September 30, 2025, was CAD 12,567,000, compared to CAD 6,507,000 in 2024, marking a 93.2% increase[8] - The working capital surplus as of September 30, 2025, was $10,205,000, compared to $8,045,000 at December 31, 2024, indicating a 26.9% increase[85] Share Capital and Transactions - The company issued 8,394,045 shares in connection with the QPM Acquisition, contributing CAD 4,503,000 to share capital[6] - The total consideration for the QPM acquisition was C$5,482, which included C$750 in cash, C$4,533 in common shares, and C$199 in transaction costs[29] - The company closed a non-brokered private equity placement for gross proceeds of $4,306,000, consisting of 6,728,000 units at C$0.64 per unit[57] - The company raised $3,080 through the issuance of flow-through shares on June 19, 2025, to be used for mineral exploration activities[45] - The company issued 440,000 common shares at C$0.67 per share, generating gross proceeds of $295,000 as part of the June 2025 Offering[55] Investments and Interests - Fury Gold holds a 12.92% common share interest in Dolly Varden Silver Corporation and a 25% interest in Universal Mineral Services Limited[11] - The company recognized a net gain on investments of CAD 1,854,000 for the three months ended September 30, 2025, compared to a net gain of CAD 1,780,000 in the same period of 2024[8] - The fair market value of the Company's equity interest in Dolly Varden was C$78,733 as of September 30, 2025, up from C$58,920 a year earlier[36] - The carrying amount of the Company's investments in associates decreased from C$36,248 at December 31, 2023, to C$24,514 at September 30, 2025, primarily due to losses and disposals[36] Expenses and Costs - Operating expenses for the three months ended September 30, 2025, were CAD 5,524,000, up 69% from CAD 3,264,000 in the same period of 2024[4] - The company recognized total share-based compensation expense of $164,000 for the three months ended September 30, 2025, compared to $179,000 for the same period in 2024[58] - The total remuneration for key management personnel for the nine months ended September 30, 2025, was $1,421,000, a decrease of 3% from $1,469,000 in 2024[73] - The company recognized share-based compensation expense of $535,000 for the nine months ended September 30, 2025, down from $831,000 in the same period of 2024[58] Exploration and Evaluation - The company's exploration and evaluation costs for the three months ended September 30, 2025, totaled $4,295, with $1,824 in Quebec and $2,471 in Nunavut[48] - The company's exploration and evaluation costs for the nine months ended September 30, 2025, totaled $9,489, with $5,518 in Quebec and $3,971 in Nunavut[49] - The company has unspent funding of $47 related to a government grant for geometallurgical studies, requiring $94 in qualifying expenses to be incurred before March 31, 2026[42] - The company recognized a government grant income of $126 for the three months ended September 30, 2025, and $144 for the nine months ended September 30, 2025[50]

Financial Performance - Revenue for the three months ended October 3, 2025, was $141.92 million, a decrease of 15% compared to $166.04 million for the same period in 2024[117]. - Gross margin for the three months ended October 3, 2025, was $10.79 million, down 11% from $12.19 million in the prior year[117]. - Net loss for the three months ended October 3, 2025, increased to $4.40 million, representing a 181% increase from a net loss of $1.56 million in the same period in 2024[131]. - Revenue for the nine months ended October 3, 2025, was $392.43 million, a 4% increase from $376.68 million in the same period in 2024[132]. - Gross margin for the nine months ended October 3, 2025, was $23.61 million, a significant improvement from a gross margin loss of $34.80 million in the prior year[133]. - Net loss decreased by $63 million to $23 million, primarily due to a $58 million increase in gross margin and a $16 million decrease in ERP pre-implementation asset impairment[147]. Project Backlog - As of October 3, 2025, the company had a project backlog of approximately $754 million, primarily located in California, with ongoing projects in six other states[94]. - The company reported a backlog of projects amounting to $754 million as of October 3, 2025[189]. - Total backlog as of October 3, 2025, is composed of 66% from state and local agencies, 19% from federal agencies, and 15% from private owners[191]. - The backlog by contract type shows 87% as fixed-price contracts and 13% as cost reimbursable contracts[191]. - Estimated backlog recognition indicates that 85% is expected to be recognized within 0 to 24 months, 5% within 25 to 36 months, and 10% beyond 36 months[191]. Revenue Sources - Revenue from Shimmick Projects was $106.83 million for the three months ended October 3, 2025, a 5% increase from $101.48 million in the prior year[118]. - Revenue from Shimmick Projects increased by $38 million to $313 million for the nine months ended October 3, 2025, driven by $62 million from new higher margin projects and $31 million from a California Palisades fire clean-up project[134]. - Non-Core Projects revenue decreased by 46% to $35.09 million for the three months ended October 3, 2025, down from $64.56 million in the same period in 2024[118]. - Non-Core Projects revenue decreased by $21 million to $80 million, primarily due to a $13 million reduction from a project completion and the absence of a $31 million favorable settlement from the GGB Project[136][137]. - Revenue from Non-Core Loss Projects was $61 million, with a gross margin of $(3) million, showing improvement from $(34) million in the prior year[139]. Costs and Expenses - Selling, general and administrative expenses increased by $1 million to $14.29 million for the three months ended October 3, 2025, primarily due to increased legal costs[125]. - Selling, general and administrative expenses decreased by $4 million due to the implementation of a transformation plan[140]. - The company incurs significant selling, general, and administrative expenses as a public entity, which were not present during its private ownership[109]. Capital and Liquidity - Capital expenditures for the nine months ended October 3, 2025, were approximately $6 million, down from $10 million in the prior year[160]. - Unrestricted cash and cash equivalents totaled $18 million, with total liquidity of $48 million available from credit agreements[160]. - The company had a net cash decrease of $16.9 million for the nine months ended October 3, 2025, compared to a decrease of $37.3 million in the prior year[177]. - Net cash used in operating activities was $65.7 million, consistent with the previous year's $66.2 million[177][178]. - Net cash provided by financing activities for the nine months ended October 3, 2025, was $46.9 million, primarily from net borrowings of $49 million[184]. Debt and Financing - As of October 3, 2025, the company had a total debt of $57.5 million, with long-term debt netting $54.1 million[164]. - The ACF Credit Agreement provides a total commitment of $15 million with an interest rate of adjusted term SOFR plus 4.50%[169]. - The company incurred $450 thousand in cash interest during the three months ended October 3, 2025, and $1 million for the nine months[172]. - The company has a maximum leverage ratio covenant tested quarterly starting from the fourth quarter of 2026 under the Credit Agreement[168]. Public Offering and Market Activity - The company completed its initial public offering on November 16, 2023, selling 3,575,000 shares at a price of $7.00 per share, resulting in net proceeds of approximately $19 million[97]. - The company entered into an At The Market Offering Agreement allowing the sale of up to $7.8 million of common stock[173]. Operational Focus - The company focuses on critical infrastructure projects, including climate resilience, water and wastewater treatment, and energy transition initiatives[92][102]. - The company aims to minimize concentration of work with any one customer or industry to reduce risks and enhance competitiveness[104]. - The company self-performs many projects to better control costs and schedules, which is believed to deliver greater value to clients[94]. - The company has experienced seasonality in revenue, typically seeing the lowest revenue in the first quarter due to adverse weather conditions[100]. - The company faces risks related to project cancellations, which could significantly reduce expected revenue from its backlog[101].

Financial Performance - Hyperion DeFi reported a record net income of $6.6 million for Q3 2025, a significant increase from a net loss of $(7.9) million in Q3 2024[4][7]. - Adjusted revenue for Q3 2025 was $361,277, up from $1,625 in Q3 2024, representing a substantial year-over-year growth[4][7]. - Income from operations rose to $4.4 million in Q3 2025, compared to a loss of $(7.3) million in Q3 2024[7]. - Total revenue for the three months ended September 30, 2025, was $302,506, a significant increase from $1,625 in the same period of 2024[28]. - Net income for the three months ended September 30, 2025, was $6,625,582, compared to a net loss of $7,887,853 in the same period of 2024[28]. - The net loss for the nine months ended September 30, 2025, was $5,548,870, a significant improvement compared to a net loss of $29,863,653 for the same period in 2024[39]. - Adjusted EBITDA for the three months ended September 30, 2025, is $7,951,003, derived from Net Income ($6,625,582) adjusted for various non-cash items and unrealized accretion[61]. Revenue Projections - The company anticipates Q4 2025 adjusted revenues between $475,000 and $515,000, indicating a quarter-on-quarter growth of 31% to 43% compared to Q3 2025[11]. Cash Flow and Expenses - The company’s net cash used in operating activities decreased from $(24.0) million for the nine months ended September 30, 2024, to $(10.7) million for the same period in 2025[7]. - Research and development expenses decreased by 89% from $3.5 million in Q3 2024 to $0.4 million in Q3 2025[7]. - Cash flows from operating activities resulted in a net cash used of $10,712,616 for the nine months ended September 30, 2025, compared to $24,010,082 in 2024, indicating improved cash management[39]. Assets and Liabilities - Total assets as of September 30, 2025, were $82,789,907, a substantial increase from $3,667,759 as of December 31, 2024[26]. - Total current liabilities decreased to $4,037,092 as of September 30, 2025, from $16,046,207 as of December 31, 2024[26]. - Stockholders' equity increased to $70,755,032 as of September 30, 2025, compared to a deficit of $13,095,952 as of December 31, 2024[26]. Stock and Financing Activities - The company issued 1,127,100 shares of common stock in a market offering, raising approximately $5.66 million[30]. - The company raised $50,000,000 from the sale of preferred stock and warrants in a private placement during the nine months ended September 30, 2025[39]. - Proceeds from the sale of common stock and warrants in direct offerings amounted to $30,998,213 for the nine months ended September 30, 2025[39]. Token and Digital Assets - The number of HYPE tokens staked at the Kinetiq x Hyperion Validator increased by 60% month-over-month, from 8.2 million as of September 30, 2025, to 13.2 million as of October 31, 2025[4][7]. - The company reported realized gains of $6,942,713 from digital assets for the three months ended September 30, 2025[28]. - The total token count for Gross HYPE Tokens is 1,720,549, with a token price of $45.19 as of September 30, 2025[54]. Non-GAAP Financial Measures - Adjusted Revenue and other non-GAAP financial measures are used by the company to provide a more comprehensive view of its financial performance[43]. - The company emphasizes that Adjusted EBITDA provides additional insights into operating performance, excluding non-cash and unpredictable items[48]. - The company acknowledges material limitations associated with the use of non-GAAP financial measures, which should be considered by investors[49]. - The unrealized staking rewards on HiHYPE are not recognized from a GAAP Revenue perspective, impacting the overall revenue reporting[52].

Financial Performance - Revenue for the third quarter of 2025 was $0.4 million, consistent with the third quarter of 2024, primarily from access fees related to future astronauts[6] - Net loss for Q3 2025 was $64 million, an improvement from a net loss of $75 million in Q3 2024, mainly due to lower operating expenses[6] - Adjusted EBITDA for Q3 2025 totaled $(53) million, compared to $(59) million in Q3 2024, reflecting reduced operating expenses[6] - Free cash flow for Q3 2025 was $(108) million, an improvement from $(118) million in Q3 2024[6] - Total operating expenses for Q3 2025 were $66,531,000, a decrease of 19% from $82,130,000 in Q3 2024[21] - Non-GAAP total operating expenses for Q3 2025 were $58,195,000, down 17% from $70,229,000 in Q3 2024[21] - Net loss for Q3 2025 was $(64,417,000), an improvement from $(74,540,000) in Q3 2024[21] - Total operating expenses for the nine months ended September 30, 2025, were $225,788,000, down 25% from $301,283,000 in the same period of 2024[21] - Non-GAAP total operating expenses for the nine months ended September 30, 2025, were $196,582,000, a decrease of 26% from $265,947,000 in 2024[21] Cash Flow and Position - Cash position remains strong, with cash, cash equivalents, and marketable securities of $424 million as of September 30, 2025[6] - Free cash flow for Q4 2025 is expected to be in the range of $(90) million to $(100) million[8] - Net cash used in operating activities for Q3 2025 was $(56,303,000), compared to $(79,307,000) in Q3 2024[22] - The company has not provided a reconciliation of forward-looking free cash flow to GAAP financial measures due to substantial uncertainty[22] Operational Developments - The first commercial spaceflight is on track for Q4 2026, with private astronaut flights expected to follow 6 to 8 weeks later[5] - 90% of structural parts for the first SpaceShip are expected to be in the factory by Q4 2025, with commercial preparations underway[5] - A research mission with Purdue University has been announced for 2027[7] Capital Expenditures - Capital expenditures for Q3 2025 were $(51,484,000), an increase from $(38,659,000) in Q3 2024[22]

Exhibit 99.1 Jefferson Capital Reports Third Quarter 2025 Results "The investment environment remains favorable with elevated levels of consumer credit delinquencies, charge-offs and insolvencies to drive portfolio supply and low unemployment to support liquidation rates. We further improved our leading position in the market by upsizing our revolving credit facility to $1 billion in commitments while also improving pricing and enhancing terms." Third Quarter 2025 Highlights versus Third Quarter 2024 Collec ...

Financial Performance - As of September 30, 2025, total assets amounted to $70,672,085, a decrease of 4.4% from $73,992,200 on December 31, 2024[10] - Distributable income for the three months ended September 30, 2025, was $1,111,576, down 17.0% from $1,340,784 in the same period of 2024[12] - The net profits income for the nine months ended September 30, 2025, was $4,502,918, slightly down from $4,503,683 in 2024, indicating a stable revenue stream[12] - The total revenue for the three months ended September 30, 2025, was $1,258,795, a decline of 19.5% compared to $1,564,340 in 2024[12] - The trust declared distributions of $1,111,576 for the three months ended September 30, 2025, which is equal to the distributable income for that period[16] - The amortization of net profits interest for the three months ended September 30, 2025, was $926,436, slightly lower than $943,931 in 2024[16] - For the three months ended September 30, 2025, net profits income received by the Trust was $1,246,690, a decrease of 19.5% from $1,548,855 in the same period of the prior year due to decreased oil and gas production and lower prices[58] - Distributable income for the three months ended September 30, 2025, was $1,111,576, or $0.091367 per Trust unit, compared to $1,548,855 and $0.1275 per unit in the prior year[59] - Total gross profits for the three months ended September 30, 2025, were $3,928,334, down from $5,739,895 in the prior year[67] Assets and Liabilities - The trust corpus at the end of the period was $69,293,250, reflecting a decrease of 4.5% from $72,379,939 at the end of 2024[10] - The trust's cash and short-term investments decreased to $1,378,835 from $1,612,261, a decline of 14.5%[10] - The trust's total liabilities and trust corpus remained balanced at $70,672,085 as of September 30, 2025[10] - Total cash reserves remained unchanged at $1,000,000 as of September 30, 2025, and September 30, 2024[61] - As of September 30, 2025, cash reserves held by the Trustee for administrative expenses totaled $1,000,000[33] Operational Highlights - Oil sales volumes decreased by 11,442 Bbls (16.2%) for the three months ended September 30, 2025, compared to the same period in 2024, and 23,985 Bbls (11.0%) for the nine months ended September 30, 2025[69] - The average realized oil price per Bbl decreased to $63.58 for the three months ended September 30, 2025, from $78.07 in the same period of 2024[71] - Natural gas sales volumes decreased slightly by 614 Mcf for the three months ended September 30, 2025, compared to the same period in 2024[70] - Development expenses related to the Underlying Properties decreased for the three and nine months ended September 30, 2025, as T2S participated in drilling only one non-operated well[77] - T2S successfully participated in a non-operated well in the Permian Shelf Area, which was drilled and completed in Q3 2025[84] Budget and Expenditures - T2S revised its capital and workover budget for 2025 from an initial $4.0 million to approximately $1.0 million due to market conditions[39] - Approximately $0.2 million had been spent from the revised budget as of September 30, 2025[55] - The decrease in planned expenditures is primarily due to the deferral of two wells in Crane County, Texas, originally scheduled for drilling[84] - T2S revised its capital expenditure budget for 2025 from $4.0 million to approximately $1.0 million to preserve liquidity and maintain financial flexibility[83] - As of September 30, 2025, T2S had expended approximately $0.2 million of the initial budget[83] Trust Operations - The Trust's main asset is the Net Profits Interest, which entitles it to receive 80% of the net profits from oil and natural gas production from the Underlying Properties[49] - The Trust is required to make monthly cash distributions of substantially all its monthly cash receipts after deducting fees and expenses[50] - The Trust declared a cash distribution of $0.031565 per Trust unit based on production during August 2025[87] - In August 2025, the underlying sales volumes included 22,490 barrels of oil and 25,914 Mcf of gas, with average prices of $58.06 per barrel and $2.31 per Mcf[88] Governance and Compliance - The Trust's disclosure controls and procedures were evaluated as effective as of September 30, 2025[93] - There have been no material changes in the risk factors disclosed in the Trust's Annual Report for the year ended December 31, 2024[97] - The Trust does not have any directors or officers, and therefore has not adopted insider trading policies[101] - The trust's investment in net profits interest is assessed periodically for impairment, with no current indications of impairment despite market volatility[31]

Financial Performance - Third quarter 2025 revenue was $16,000, a decrease from $29,000 in the same quarter of 2024[6] - Total operating expenses for Q3 2025 were $9.0 million, slightly up from $8.9 million in Q3 2024[6] - The net loss for Q3 2025 was $7.8 million, a slight improvement from a net loss of $7.9 million in Q3 2024[9] Expenses Breakdown - Research and development expenses decreased to $3.3 million in Q3 2025 from $3.5 million in Q3 2024, reflecting lower clinical study costs[7] - Selling, general and administrative expenses rose to $5.7 million in Q3 2025, compared to $5.4 million in the prior-year period[8] Cash Position - As of September 30, 2025, the company had cash, cash equivalents, and available-for-sale securities totaling approximately $102.4 million[9] Market Opportunities - The company is advancing discussions with managed Medicaid plans covering 33% of U.S. births and 35% of Medicaid births annually, indicating a significant commercial opportunity[3] Product Impact - The PreTRM Test is associated with a 20% reduction in NICU admissions, highlighting its potential impact on maternal and neonatal outcomes[5] - The company is on track to publish full results of the PRIME study this year, which will include health economic benefits and expected cost-saving benefits of the PreTRM Test[4] Leadership Changes - Sera Prognostics has strengthened its leadership team with the appointment of Dr. Tiffany Inglis as Chief Medical Officer and Marisol Urbano as Head of Commercial Operations[4]

User Metrics - As of September 30, 2025, global Monthly Active Users (MAU) decreased by approximately 8.5% year-over-year to 155.4 million, with notable declines in Korea and Rest of World[126] - In Korea, MAU was approximately 24.6 million, down from 28.1 million in the same quarter of 2024, reflecting a significant decline[126] - Japan's MAU increased to 25.3 million, up from 22.5 million year-over-year, driven by growth in eBookJapan and increased marketing investments[127] - Rest of World MAU decreased to 105.5 million from 119.3 million, primarily due to government bans on Wattpad and a security upgrade affecting search traffic[128] Revenue and Financial Performance - Revenue for the three months ended September 30, 2025, increased by 8.7% to $378,041,000 compared to $347,915,000 in the same period of 2024[150] - Revenue for the nine months ended September 30, 2025, increased by 5.7% to $1,052,019,000 compared to $995,631,000 in the same period of 2024[160] - Total revenue for Q3 2025 was $378.0 million, an increase of 8.7% compared to $347.9 million in Q3 2024[181] - Paid content revenue reached $286.8 million in Q3 2025, a slight increase of 0.6% from $285.2 million in Q3 2024[181] - Advertising revenue decreased by 9.3% to $39.4 million in Q3 2025, down from $43.4 million in Q3 2024[181] - IP adaptations revenue surged by 168.7% to $51.9 million in Q3 2025, compared to $19.3 million in Q3 2024[181] User Monetization - Global Monthly Paying Users (MPU) reached 7.7 million with a paying ratio of 5.0%, an increase of 0.3% compared to the previous year[131] - In Korea, MPU decreased to around 3.7 million, but the paying ratio increased to 14.9%, up from 13.8% year-over-year[132] - Average Revenue per Paying User (ARPPU) increased to $12.4, reflecting a 2.8% growth compared to the same quarter of 2024, driven by a strategic shift from web to app[135] - ARPPU in Japan reached $23.6, a 2.4% increase year-over-year, indicating strong monetization in that market[136] Expenses and Losses - Cost of revenue rose by 15.1% to $295,267,000 for the three months ended September 30, 2025, up from $256,534,000 in 2024[152] - Marketing expenses increased by 7.5% to $35,166,000 for the three months ended September 30, 2025, compared to $32,719,000 in 2024[153] - General and administrative expenses decreased by 6.4% to $62,486,000 for the three months ended September 30, 2025, down from $66,747,000 in 2024[154] - Net loss for the three months ended September 30, 2025, was $11,050,000, a decrease of 155.3% compared to a net income of $19,986,000 in 2024[150] - The company reported a net loss of $36.9 million for the nine months ended September 30, 2025, adjusted for non-cash items totaling $60.3 million[188] Cash Flow and Investments - Net cash provided by operating activities for the nine months ended September 30, 2025, was $3.6 million, down from $26.5 million in the same period of 2024[187] - As of September 30, 2025, the company had $584.6 million in cash and cash equivalents, primarily invested in short-term, highly liquid investments[185] - For the nine months ended September 30, 2025, net cash used in investing activities was $5.0 million, with significant payments for intangible assets and property[189] Future Outlook - The company anticipates future capital requirements will depend on growth rate and sales activities, with potential needs for additional financing[186] - The company believes that non-GAAP measures like Adjusted EBITDA and revenue on a constant currency basis provide useful insights into performance by excluding foreign currency volatility[179] - The company emphasizes that non-GAAP measures should not be considered in isolation from GAAP measures, as they have limitations[171]