ARS Pharmaceuticals Reports Second Quarter 2025 Financial Results and Highlights Accelerating Growth for nef y® (epinephrine nasal spray) $15.7 million in revenue, including $12.8 million in neffy U.S. net product revenue in second quarter of 2025 Exhibit 99.1 Growth for neffy in the U.S. driven by increased payor access with additional near-term growth anticipated from national direct-to-consumer (DTC) campaign and pediatric co-promote partnership 93% commercial coverage achieved with streamlined prior aut ...

Crown Crafts Announces Financial Results for First Quarter Fiscal 2026 Gonzales, Louisiana – August 13, 2025, Crown Crafts, Inc. (NASDAQ-CM: CRWS) (the "Company") today reported results for the first quarter fiscal year 2026, which ended June 29, 2025. Exhibit 99.1 Conference Call The Company will host a teleconference today at 8:00 a.m. CDT to discuss the Company's results, during which interested individuals will be given the opportunity to ask appropriate questions. To join the teleconference, dial (844) ...

[PART I. FINANCIAL INFORMATION](index=5&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) This section presents the company's unaudited interim consolidated financial statements and management's discussion and analysis of its financial condition and results of operations [Item 1. Financial Statements (Unaudited)](index=5&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) This section presents the unaudited interim consolidated financial statements, including balance sheets, statements of operations, changes in stockholders' deficit, and cash flows, along with detailed notes explaining the company's organization, accounting policies, recent acquisition, fair value measurements, and equity structure [Consolidated Balance Sheets](index=5&type=section&id=Consolidated%20Balance%20Sheets) This section provides a snapshot of the company's financial position, detailing assets, liabilities, and stockholders' deficit at specific points in time Consolidated Balance Sheet Highlights (in thousands) | Metric | June 30, 2025 | December 31, 2024 | Change | Change (%) | | :-------------------------------- | :------------ | :---------------- | :----- | :--------- | | Cash and cash equivalents | $5,230 | $8,289 | $(3,059) | -36.9% | | Total current assets | $5,947 | $10,001 | $(4,054) | -40.5% | | Total assets | $6,048 | $10,101 | $(4,053) | -40.1% | | Total current liabilities | $347 | $1,666 | $(1,319) | -79.2% | | Total liabilities | $151,396 | $153,770 | $(2,374) | -1.5% | | Total stockholders' deficit | $(147,945) | $(148,041) | $96 | -0.1% | [Consolidated Statements of Operations](index=6&type=section&id=Consolidated%20Statements%20of%20Operations) This section presents the company's financial performance over specific periods, detailing revenues, expenses, and net loss Consolidated Statements of Operations Highlights (in thousands) | Metric | 3 Months Ended June 30, 2025 | 3 Months Ended June 30, 2024 | Change | Change (%) | 6 Months Ended June 30, 2025 | 6 Months Ended June 30, 2024 | Change | Change (%) | | :------------------------------------------ | :--------------------------- | :--------------------------- | :----- | :--------- | :--------------------------- | :--------------------------- | :----- | :--------- | | Research and development | $84 | $1,430 | $(1,346) | -94.1% | $177 | $2,918 | $(2,741) | -93.9% | | General and administrative | $1,051 | $2,779 | $(1,728) | -62.2% | $2,921 | $5,868 | $(2,947) | -50.2% | | Loss from operations | $(1,135) | $(4,209) | $3,074 | -73.0% | $(3,098) | $(8,786) | $5,688 | -64.7% | | Net loss | $(1,075) | $(4,064) | $2,989 | -73.5% | $(2,667) | $(8,445) | $5,778 | -68.4% | | Net loss per share (basic and diluted) | $(0.00) | $(0.07) | $0.07 | -100.0% | $(0.01) | $(0.16) | $0.15 | -93.8% | [Consolidated Statements of Changes in Stockholders' Deficit](index=7&type=section&id=Consolidated%20Statements%20of%20Changes%20in%20Stockholders'%20Deficit) This section outlines the changes in the company's equity over time, including preferred stock, common stock, additional paid-in capital, and accumulated deficit Changes in Stockholders' Deficit Highlights (in thousands) | Item | January 1, 2025 | March 31, 2025 | June 30, 2025 | | :------------------------------------------ | :-------------- | :------------- | :------------ | | Redeemable convertible preferred stock | $4,372 | $2,864 | $2,597 | | Common stock | $75 | $75 | $75 | | Additional paid-in capital | $308,247 | $310,653 | $311,010 | | Accumulated deficit | $(456,363) | $(457,955) | $(459,030) | | Total Stockholders' Deficit | $(148,041) | $(147,227) | $(147,945) | - Share-based compensation expense: **$227 thousand** (total for 6 months)[19](index=19&type=chunk) - Accretion of redeemable convertible preferred stock to redemption value: **$(1,775) thousand** (total for 6 months)[19](index=19&type=chunk) - Reclassification of pre-funded stock warrants: **$761 thousand**[19](index=19&type=chunk) - Net loss: **$(2,667) thousand** (total for 6 months)[19](index=19&type=chunk) [Consolidated Statements of Cash Flows](index=8&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) This section details the cash inflows and outflows from operating, investing, and financing activities over specific periods Consolidated Statements of Cash Flows Highlights (in thousands) | Activity | 6 Months Ended June 30, 2025 | 6 Months Ended June 30, 2024 | Change | | :-------------------------------- | :--------------------------- | :--------------------------- | :----- | | Net cash used in operating activities | $(3,694) | $(7,508) | $3,814 | | Net cash provided by financing activities | $635 | $0 | $635 | | Net decrease in cash and cash equivalents | $(3,059) | $(7,508) | $4,449 | | Cash and cash equivalents at end of period | $5,230 | $10,749 | $(5,519) | [Notes to Unaudited Interim Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Unaudited%20Interim%20Consolidated%20Financial%20Statements) This section provides detailed explanations and disclosures supporting the interim consolidated financial statements, covering accounting policies, acquisitions, and equity [Note 1. Organization and description of business](index=9&type=section&id=Note%201.%20Organization%20and%20description%20of%20business) This note describes the company's biopharmaceutical focus, strategic shift post-FDA setback, acquisition of Nova Pharmaceuticals, and ongoing going concern challenges - Galera Therapeutics, Inc. is a biopharmaceutical company focused on developing small molecule dismutase (SOD) mimetics to improve radiotherapy in cancer. Its lead product candidate, avasopasem, received Fast Track and Breakthrough Therapy designations for reducing severe oral mucositis (SOM) induced by radiotherapy[24](index=24&type=chunk) - In August 2023, the FDA issued a Complete Response Letter (CRL) for avasopasem's NDA, requiring an additional Phase 3 trial, which the company deemed infeasible with current resources. This led to winding down commercial readiness, a **70% workforce reduction**, and exploration of strategic alternatives[25](index=25&type=chunk)[26](index=26&type=chunk) - After stockholders rejected a liquidation plan, Galera acquired Nova Pharmaceuticals, Inc. in December 2024, shifting its strategic focus to developing a pan-inhibitor of nitric oxide synthase for highly resistant breast cancers (MpBC and TNBC). The company's clinical portfolio now includes this pan-NOS inhibitor and two SOD mimetics[28](index=28&type=chunk)[29](index=29&type=chunk)[30](index=30&type=chunk) - The company has incurred recurring losses and negative cash flows, with an accumulated deficit of **$459.0 million** as of June 30, 2025. Management concluded that substantial doubt exists about the company's ability to continue as a going concern beyond the first quarter of 2026, necessitating additional capital or expense deferrals[31](index=31&type=chunk) [Note 2. Basis of presentation and significant accounting policies](index=11&type=section&id=Note%202.%20Basis%20of%20presentation%20and%20significant%20accounting%20policies) This note details the accounting principles used in preparing the financial statements, including U.S. GAAP conformity, segment reporting, and treatment of warrants and R&D costs - The interim consolidated financial statements are prepared in conformity with U.S. GAAP and include all normal and recurring adjustments. They do not include adjustments for liquidation basis accounting, despite the going concern doubt[34](index=34&type=chunk)[35](index=35&type=chunk) - The company's CEO manages business activities as a single operating and reportable segment, using consolidated income/loss from operations and net income/loss to assess performance and allocate resources[39](index=39&type=chunk) - Pre-funded warrants issued in December 2024 were initially classified as liabilities due to redemption terms outside the company's control but were reclassified to equity in March 2025 after an amendment[42](index=42&type=chunk) - Research and development costs are expensed as incurred, based on estimates of work completed by third parties. Net loss per share calculations treat Series B preferred stock as a second class of common stock due to similar characteristics and pro rata loss allocation[44](index=44&type=chunk)[46](index=46&type=chunk) [Note 3. Asset acquisition](index=16&type=section&id=Note%203.%20Asset%20acquisition) This note describes the acquisition of Nova Pharmaceuticals, Inc. in December 2024, including the consideration issued and conversion terms of Series B preferred stock - On December 30, 2024, Galera acquired Nova Pharmaceuticals, Inc., issuing **119,318 shares of Series B preferred stock** with an aggregate fair value of **$2.6 million** as upfront consideration. Stockholder approval is required for the conversion of Series B into common stock, to be sought 12-18 months post-closing[53](index=53&type=chunk)[54](index=54&type=chunk) [Note 4. Fair value measurements](index=16&type=section&id=Note%204.%20Fair%20value%20measurements) This note provides details on the fair value of financial instruments, including money market funds and warrant liabilities, and changes in their valuation Fair Value Measurements (in thousands) | Asset/Liability | June 30, 2025 (Level 1) | December 31, 2024 (Level 1) | December 31, 2024 (Level 2) | | :------------------------------------ | :---------------------- | :------------------------ | :------------------------ | | Money market funds | $5,131 | $6,115 | — | | Warrant liability | — | — | $1,055 | Change in Fair Value of Warrant Liability (6 months ended June 30, 2025, in thousands) | Item | Amount | | :--------------------------- | :----- | | Balance at December 31, 2024 | $1,055 | | Change in fair value | $(294) | | Reclassification to equity | $(761) | | Balance at June 30, 2025 | $0 | [Note 5. Prepaid expenses and other current assets](index=18&type=section&id=Note%205.%20Prepaid%20expenses%20and%20other%20current%20assets) This note details the composition of prepaid expenses and other current assets, including prepaid insurance and other miscellaneous prepayments Prepaid Expenses and Other Current Assets (in thousands) | Item | June 30, 2025 | December 31, 2024 | | :-------------------------------- | :------------ | :---------------- | | Prepaid insurance | $392 | $795 | | Other prepaid expenses and other current assets | $325 | $282 | | Total | $717 | $1,077 | [Note 6. Property and equipment](index=18&type=section&id=Note%206.%20Property%20and%20equipment) This note explains the write-off of fixed assets and the impact on depreciation and amortization expenses due to office lease termination - The company wrote off its remaining fixed assets in Q3 2024 due to office lease termination. Depreciation and amortization expense was **$15,000** for the six months ended June 30, 2024, but **zero** for the same period in 2025[60](index=60&type=chunk) [Note 7. Accrued expenses](index=19&type=section&id=Note%207.%20Accrued%20expenses) This note provides a breakdown of accrued expenses, including compensation, research and development, and professional fees Accrued Expenses (in thousands) | Item | June 30, 2025 | December 31, 2024 | | :-------------------------------- | :------------ | :---------------- | | Compensation and related benefits | $14 | $48 | | Research and development expenses | $32 | $31 | | Professional fees and other expenses | $99 | $312 | | Total | $145 | $391 | [Note 8. Royalty purchase liability](index=19&type=section&id=Note%208.%20Royalty%20purchase%20liability) This note details the Royalty Agreement with Blackstone Life Sciences, its accounting as a debt instrument, and the suspension of interest expense recognition - Galera has a Royalty Agreement with Blackstone Life Sciences, under which it received **$117.5 million** in proceeds. This is accounted for as a debt instrument, with interest imputed based on estimated royalty repayment[63](index=63&type=chunk)[64](index=64&type=chunk)[65](index=65&type=chunk) - Interest expense recognition on the royalty purchase liability was suspended after October 2023 due to uncertainty of future royalties following the discontinuation of rucosopasem trials and the infeasibility of a new avasopasem Phase 3 trial. No interest expense was recognized in the first six months of 2025 or 2024[65](index=65&type=chunk)[68](index=68&type=chunk) - The agreement grants Blackstone a **high single-digit percentage** of worldwide net sales of avasopasem and rucosopasem (the Products) during the Royalty Period. If no Products are commercialized, the company has no obligation to make Product Payments[66](index=66&type=chunk)[67](index=67&type=chunk) [Note 9. Leases](index=20&type=section&id=Note%209.%20Leases) This note describes the termination of a previous office lease and the commencement of a new operating lease, along with associated rental expenses - The company terminated its previous office lease in August 2024 for a **$0.4 million** fee and entered into a new 12-month operating lease in Malvern, Pennsylvania, commencing February 1, 2025[69](index=69&type=chunk)[70](index=70&type=chunk) Operating Lease Costs (in thousands) | Item | 3 Months Ended June 30, 2025 | 3 Months Ended June 30, 2024 | 6 Months Ended June 30, 2025 | 6 Months Ended June 30, 2024 | | :------------------------ | :--------------------------- | :--------------------------- | :--------------------------- | :--------------------------- | | Operating lease rental expense | $4 | $54 | $7 | $108 | | Operating cash flows for operating leases | N/A | N/A | $7 | $88 | [Note 10. Commitments and contingencies](index=21&type=section&id=Note%2010.%20Commitments%20and%20contingencies) This note outlines Nova's exclusive license agreement with Houston Methodist, including due diligence requirements, milestone payments, and royalty obligations - Nova, a Galera subsidiary, holds an exclusive worldwide license with Houston Methodist for oncology patents. The license includes due diligence requirements for IND submission by **January 31, 2028**, and subsequent clinical trials and BLA filing by specified dates[71](index=71&type=chunk)[72](index=72&type=chunk) - Fees are payable upon commercial milestones and **low-to-mid single-digit royalties** on net sales if FDA approval is received. An assignment fee of **$200,000** is payable if the license is assigned before the first Phase III trial[72](index=72&type=chunk)[74](index=74&type=chunk) [Note 11. Equity](index=21&type=section&id=Note%2011.%20Equity) This note details changes in the company's equity structure, including the termination of the Stockholder Rights Agreement, private placement, Series B Preferred Stock issuance, and share-based compensation - The Stockholder Rights Agreement, which declared a dividend of one preferred share purchase right for each common stock share, terminated upon the closing of the Nova acquisition[75](index=75&type=chunk) - In December 2024, a private placement generated **$2.9 million net proceeds** from issuing common stock and pre-funded warrants. The pre-funded warrants were initially liability-classified but reclassified to equity in March 2025 after an amendment[76](index=76&type=chunk)[77](index=77&type=chunk)[78](index=78&type=chunk) - **119,318.285 shares of Series B Preferred Stock** were issued to Nova securityholders, convertible into **1,000 common shares each**, subject to stockholder approval 12-18 months post-issuance. If not approved within 24 months, holders can elect cash redemption at fair value[80](index=80&type=chunk)[84](index=84&type=chunk)[85](index=85&type=chunk)[87](index=87&type=chunk) - Share-based compensation expense for the six months ended June 30, 2025, was **$227,000**, a significant decrease from **$1,598,000** in the prior year, primarily due to reduced R&D and G&A personnel[96](index=96&type=chunk) Stock Option Activity (6 months ended June 30, 2025) | Item | Shares | Weighted-average exercise price per share | | :-------------------------------- | :------- | :-------------------------------------- | | Outstanding at January 1, 2025 | 4,384,108 | $6.01 | | Granted | 8,488,000 | $0.02 | | Forfeited/Expired | (1,756,041) | $6.57 | | Outstanding at June 30, 2025 | 11,116,067 | $1.35 | | Vested and exercisable at June 30, 2025 | 2,562,871 | $5.58 | [Note 12. Related party transactions](index=28&type=section&id=Note%2012.%20Related%20party%20transactions) This note discloses transactions with related parties, including fees paid to IntellectMap Advisory Services and equity issued to board members post-Nova acquisition - Fees incurred with IntellectMap Advisory Services, whose CEO is the brother of Galera's CEO, were **$73,000** for the six months ended June 30, 2025, down from **$92,000** in 2024[103](index=103&type=chunk) - In connection with the Nova acquisition, Dr. Chang and Mr. Friedman (now board members) received Series B shares convertible into **1,841,920** and **8,326,269 common shares**, respectively. Mr. Friedman also entered an Independent Contractor Agreement for corporate and business development services, incurring **$60,000** in fees[104](index=104&type=chunk)[105](index=105&type=chunk) [Note 13. Subsequent events](index=28&type=section&id=Note%2013.%20Subsequent%20events) This note addresses the assessment of new budget and tax legislation signed in July 2025 and its expected impact on the financial statements - New budget and tax legislation signed on **July 4, 2025**, is being assessed for its effect on consolidated financial statements. However, due to a full valuation allowance against U.S. federal deferred tax assets, no material impact is currently expected[106](index=106&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=29&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) This section provides management's perspective on the company's financial condition and operational results, emphasizing the strategic shift post-Nova acquisition, ongoing liquidity challenges, and the need for future financing [Overview](index=29&type=section&id=Overview) This overview summarizes Galera's strategic pivot from SOD mimetics to a pan-NOS inhibitor for advanced breast cancers following FDA setbacks and the Nova acquisition, highlighting ongoing going concern issues - Galera Therapeutics, a biopharmaceutical company, initially focused on SOD mimetics to reduce radiotherapy side effects. Its lead candidate, avasopasem, received Fast Track and Breakthrough Therapy designations for severe oral mucositis (SOM)[108](index=108&type=chunk) - In August 2023, the FDA issued a Complete Response Letter for avasopasem, requiring a second Phase 3 trial, which was not feasible. This led to winding down avasopasem commercial efforts, significant headcount reduction, and halting rucosopasem clinical trials[109](index=109&type=chunk) - Following stockholder rejection of a liquidation plan, Galera acquired Nova Pharmaceuticals in December 2024, shifting its strategic focus to developing a pan-inhibitor of nitric oxide synthase for advanced breast cancers (MpBC and TNBC)[110](index=110&type=chunk)[111](index=111&type=chunk) - The current lead program is an investigator-sponsored Phase 1/2 trial of the pan-NOS inhibitor for MpBC, funded by an NIH grant. A second trial for TNBC is planned, and an investigator-sponsored trial for avasopasem in HR+ breast cancer is expected to commence in **H2 2025**[112](index=112&type=chunk) - The company has an accumulated deficit of **$459.0 million** as of June 30, 2025, and **$5.2 million** in cash and cash equivalents, expected to fund operations only through **Q1 2026**, raising substantial doubt about its ability to continue as a going concern[115](index=115&type=chunk)[116](index=116&type=chunk) [Critical Accounting Policies and Estimates](index=31&type=section&id=Critical%20Accounting%20Policies%20and%20Estimates) This section confirms the consistency of critical accounting policies and estimates with the prior year's Form 10-K, noting no material changes - The company's critical accounting policies and estimates are consistent with those discussed in the 2024 Form 10-K, with no material changes identified during the six months ended June 30, 2025[119](index=119&type=chunk) [Components of Results of Operations](index=31&type=section&id=Components%20of%20Results%20of%20Operations) This section details the nature of research and development, general and administrative expenses, and the company's tax loss carryforwards and valuation allowance - Research and development expenses are expensed as incurred, primarily covering third-party services for product candidate development, clinical trials, manufacturing, and regulatory compliance. Internal R&D expenses are not tracked program-by-program[120](index=120&type=chunk)[123](index=123&type=chunk) - General and administrative expenses include personnel costs (salaries, benefits, share-based compensation), corporate facility costs, legal fees, and accounting/consulting services. These expenses are expected to increase with continued R&D and operational expansion, assuming additional capital is secured[130](index=130&type=chunk)[131](index=131&type=chunk) - The company had federal and state net operating loss carryforwards of **$209.5 million** and **$231.9 million**, respectively, and federal R&D tax credit carryforwards of **$9.0 million** as of December 31, 2024. A full valuation allowance is recorded against deferred tax assets due to uncertainty of utilization[133](index=133&type=chunk)[134](index=134&type=chunk) [Results of Operations - Comparison of the Three and Six months ended June 30, 2025 and 2024](index=35&type=section&id=Results%20of%20Operations%20-%20Comparison%20of%20the%20Three%20and%20Six%20months%20ended%20June%2030,%202025%20and%202024) This section compares the company's financial performance for the three and six months ended June 30, 2025 and 2024, highlighting significant reductions in R&D and G&A expenses Results of Operations (in thousands) | Metric | 3 Months Ended June 30, 2025 | 3 Months Ended June 30, 2024 | Change | 6 Months Ended June 30, 2025 | 6 Months Ended June 30, 2024 | Change | | :------------------------------------------ | :--------------------------- | :--------------------------- | :----- | :--------------------------- | :--------------------------- | :----- | | Research and development | $84 | $1,430 | $(1,346) | $177 | $2,918 | $(2,741) | | General and administrative | $1,051 | $2,779 | $(1,728) | $2,921 | $5,868 | $(2,947) | | Loss from operations | $(1,135) | $(4,209) | $3,074 | $(3,098) | $(8,786) | $5,688 | | Interest income | $60 | $149 | $(89) | $137 | $345 | $(208) | | Change in fair value of warrant liability | $0 | $0 | $0 | $294 | $0 | $294 | | Net loss | $(1,075) | $(4,064) | $2,989 | $(2,667) | $(8,445) | $5,778 | - Research and development expense decreased significantly by **$1.3 million (94.1%)** for the three months and **$2.7 million (93.9%)** for the six months ended June 30, 2025, primarily due to the termination of R&D employees and halting rucosopasem trials[138](index=138&type=chunk)[139](index=139&type=chunk) - General and administrative expense decreased by **$1.7 million (62.2%)** for the three months and **$3.0 million (50.2%)** for the six months ended June 30, 2025, mainly due to reduced headcount, vested stock options, and lower legal/professional fees[140](index=140&type=chunk)[141](index=141&type=chunk) - Interest income decreased due to a reduction in investable cash and securities. A **$0.3 million** change in the fair value of warrant liability was recognized in the six months ended June 30, 2025, prior to reclassification to equity[142](index=142&type=chunk)[143](index=143&type=chunk) [Liquidity and Capital Resources](index=37&type=section&id=Liquidity%20and%20Capital%20Resources) This section discusses the company's cash position, accumulated deficit, and the substantial doubt about its ability to continue as a going concern without additional financing - As of June 30, 2025, the company had **$5.2 million** in cash and cash equivalents and an accumulated deficit of **$459.0 million**. Existing cash is expected to fund operations only through **Q1 2026**, indicating substantial doubt about its ability to continue as a going concern[148](index=148&type=chunk) - The company has historically funded operations through equity sales and **$117.5 million** from the Royalty Agreement with Blackstone Life Sciences, totaling **$379.9 million** in aggregate gross proceeds[145](index=145&type=chunk) - Future funding requirements are substantial and uncertain, dependent on clinical trial progress, regulatory review, collaborations, intellectual property costs, and manufacturing. The company anticipates needing to raise additional financing through equity, debt, or strategic transactions, which may result in significant dilution or restrictive covenants[154](index=154&type=chunk)[155](index=155&type=chunk)[156](index=156&type=chunk) [Cash Flows](index=39&type=section&id=Cash%20Flows) This section summarizes the company's cash flows from operating and financing activities, noting a decrease in cash used in operations and proceeds from financing Summary of Cash Flows (in thousands) | Activity | 6 Months Ended June 30, 2025 | 6 Months Ended June 30, 2024 | | :-------------------------------- | :--------------------------- | :--------------------------- | | Net cash used in operating activities | $(3,694) | $(7,508) | | Net cash provided by financing activities | $635 | $0 | | Net decrease in cash and cash equivalents | $(3,059) | $(7,508) | - Net cash used in operating activities decreased from **$7.5 million** in H1 2024 to **$3.7 million** in H1 2025, reflecting a reduced net loss and changes in operating assets and liabilities[150](index=150&type=chunk)[151](index=151&type=chunk) - Financing activities provided **$0.6 million** in H1 2025 from the sale of common stock in a December 2024 private placement[152](index=152&type=chunk) [Key Agreements](index=43&type=section&id=Key%20Agreements) This section outlines significant agreements, including the Royalty Agreement with Blackstone Life Sciences, the Master Manufacturing Services Agreement with Patheon, and Nova's License Agreement with Houston Methodist - The Royalty Agreement with Blackstone Life Sciences provided **$117.5 million** in proceeds, in exchange for a **high single-digit percentage** of worldwide net sales of avasopasem and rucosopasem. The agreement remains in effect until Product Payments exceed a fixed multiple of the purchase price[159](index=159&type=chunk)[160](index=160&type=chunk)[161](index=161&type=chunk)[162](index=162&type=chunk) - Galera has a Master Manufacturing Services Agreement with Patheon for avasopasem manganese, with an initial term expiring **December 31, 2027**. There are no current contractual commitments to purchase avasopasem under this agreement[164](index=164&type=chunk)[165](index=165&type=chunk)[166](index=166&type=chunk)[167](index=167&type=chunk) - Nova's License Agreement with Houston Methodist grants exclusive rights to oncology patents, with due diligence requirements for IND submission and clinical trials. Fees and **low-to-mid single-digit royalties** are payable upon commercial milestones and net sales[168](index=168&type=chunk)[169](index=169&type=chunk)[170](index=170&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=45&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) As a smaller reporting company, Galera Therapeutics, Inc. is exempt from providing quantitative and qualitative disclosures about market risk - The company is a smaller reporting company and is not required to provide quantitative and qualitative disclosures about market risk[173](index=173&type=chunk) [Item 4. Controls and Procedures](index=45&type=section&id=Item%204.%20Controls%20and%20Procedures) Management acknowledges the inherent limitations of controls and procedures, providing only reasonable assurance, and concluded that disclosure controls were effective with no material changes in internal control over financial reporting - Management recognizes that controls and procedures provide only reasonable assurance and require judgment in balancing benefits and costs[174](index=174&type=chunk) - As of **June 30, 2025**, the principal executive officer and principal financial officer concluded that the company's disclosure controls and procedures were effective at the reasonable assurance level[175](index=175&type=chunk) - There were no material changes in internal control over financial reporting during the quarter ended **June 30, 2025**[176](index=176&type=chunk) [PART II. OTHER INFORMATION](index=48&type=section&id=PART%20II.%20OTHER%20INFORMATION) This section provides additional information not covered in the financial statements, including legal proceedings, risk factors, equity sales, and exhibits [Item 1. Legal Proceedings](index=48&type=section&id=Item%201.%20Legal%20Proceedings) The company is not currently a party to any legal proceedings that are expected to materially affect its business or financial results - The company is not currently involved in any legal proceedings deemed likely to materially affect its business or financial results[179](index=179&type=chunk) [Item 1A. Risk Factors](index=48&type=section&id=Item%201A.%20Risk%20Factors) Investing in the company's common stock involves a high degree of risk, with no material changes to the risk factors previously described in the 2024 Form 10-K - Investing in the company's common stock involves a high degree of risk. No material changes to the risk factors described in the 2024 Form 10-K have occurred[180](index=180&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=48&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) There were no unregistered sales of equity securities or use of proceeds to report during the period - No unregistered sales of equity securities or use of proceeds to report[181](index=181&type=chunk) [Item 3. Defaults Upon Senior Securities](index=48&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reported no defaults upon senior securities during the period - No defaults upon senior securities were reported[182](index=182&type=chunk) [Item 4. Mine Safety Disclosures](index=48&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Mine Safety Disclosures are not applicable to the company[183](index=183&type=chunk) [Item 5. Other Information](index=48&type=section&id=Item%205.%20Other%20Information) No director or officer adopted or terminated a Rule 10b5-1 or non-Rule 10b5-1 trading arrangement during the three months ended June 30, 2025 - No director or officer adopted or terminated a Rule 10b5-1 or non-Rule 10b5-1 trading arrangement during the three months ended **June 30, 2025**[184](index=184&type=chunk) [Item 6. Exhibits](index=49&type=section&id=Item%206.%20Exhibits) This section lists all exhibits filed or furnished with the report, including corporate governance documents, registration rights agreements, and certifications - The report includes a list of exhibits, such as the Restated Certificate of Incorporation, Certificate of Designation for Series B Preferred Stock, Amended and Restated Bylaws, Stockholder Rights Agreement, and various certifications[187](index=187&type=chunk) [Signatures](index=50&type=section&id=Signatures) The report is duly signed on behalf of Galera Therapeutics, Inc. by its Chief Executive Officer and President, J. Mel Sorensen, M.D., and Chief Accounting Officer, Joel Sussman, as of August 13, 2025 - The report is signed by J. Mel Sorensen, M.D., Chief Executive Officer and President, and Joel Sussman, Chief Accounting Officer, on **August 13, 2025**[193](index=193&type=chunk)

[PART I – FINANCIAL INFORMATION](index=3&type=section&id=PART%20I%20%E2%80%93%20FINANCIAL%20INFORMATION) [Item 1. Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) The company experienced decreased net sales and a wider net loss, alongside a reduction in total assets and operating cash flow, primarily due to increased inventories [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets and shareholders' equity declined from March 30, 2025, to June 29, 2025, while inventories increased | Balance Sheet Items | June 29, 2025 ($ thousands) | March 30, 2025 ($ thousands) | | :--- | :--- | :--- | | **Total Current Assets** | 51,242 | 55,303 | | **Total Assets** | 76,023 | 81,154 | | **Total Current Liabilities** | 17,797 | 15,505 | | **Total Liabilities** | 38,154 | 41,535 | | **Total Shareholders' Equity** | 37,869 | 39,619 | - Inventories increased to **$31.6 million** as of June 29, 2025, from **$27.8 million** as of March 30, 2025, with nearly all being finished goods[28](index=28&type=chunk) [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Net sales decreased by 4.5% year-over-year, leading to a significantly wider net loss and diluted loss per share | Metric | Three Months Ended June 29, 2025 ($ thousands) | Three Months Ended June 30, 2024 ($ thousands) | | :--- | :--- | :--- | | Net sales | 15,478 | 16,212 | | Gross profit | 3,518 | 3,966 | | Loss from operations | (1,199) | (297) | | Net loss | (1,104) | (322) | | Diluted loss per share | $(0.10) | $(0.03) | [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Operating cash flow decreased due to increased inventories, while cash used in financing activities also declined | Cash Flow Activity | Three Months Ended June 29, 2025 ($ thousands) | Three Months Ended June 30, 2024 ($ thousands) | | :--- | :--- | :--- | | Net cash provided by operating activities | 5,248 | 8,013 | | Net cash used in investing activities | (86) | (284) | | Net cash used in financing activities | (5,456) | (7,455) | | **Net decrease in cash** | **(294)** | **274** | [Notes to Financial Statements](index=8&type=section&id=Notes%20to%20Financial%20Statements) Notes detail the company's single segment operation, the Baby Boom acquisition, concentration risks, and a prior goodwill impairment charge - The company operates primarily in one principal segment: infant, toddler and juvenile products[23](index=23&type=chunk) - On July 19, 2024, the company acquired substantially all assets of Baby Boom Consumer Products, Inc. for a purchase price of **$18.0 million** in cash, funded by a term loan and borrowings under its revolving line of credit[29](index=29&type=chunk) - A non-cash goodwill impairment charge of **$13.8 million** was recorded during the three-month period ended March 30, 2025, resulting in no goodwill reported as of June 29, 2025[46](index=46&type=chunk) | Customer | % of Gross Sales (Q1 FY26) | % of Gross Sales (Q1 FY25) | | :--- | :--- | :--- | | Walmart Inc. | 45% | 39% | | Amazon.com, Inc. | 17% | 22% | | Target Corporation | 11% | <10% | - Sales of licensed products represented **50%** of gross sales in fiscal year 2025, with **21%** from license agreements with The Walt Disney Company[50](index=50&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=14&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes decreased net sales to tariff-driven inventory shortages and notes a decline in gross margin due to increased tariff costs | Metric | Q1 FY26 ($ thousands) | Q1 FY25 ($ thousands) | Change (%) | | :--- | :--- | :--- | :--- | | **Net Sales** | 15,478 | 16,212 | -4.5% | | Bedding and diaper bags | 6,791 | 6,251 | 8.6% | | Bibs, toys and disposable products | 8,687 | 9,961 | -12.8% | | **Gross Profit** | 3,518 | 3,966 | -11.3% | | Gross Margin | 22.7% | 24.5% | -1.8 p.p. | | **Marketing & Admin Expenses** | 4,717 | 4,263 | 10.6% | | **Net Loss** | (1,104) | (322) | 242.9% | - The decrease in net sales was attributed to inventory shortages resulting from a strategy to minimize the impact of high tariffs, which offset the **$2.1 million** in net sales added by the Baby Boom acquisition[62](index=62&type=chunk) - The decline in gross profit margin was primarily a result of increased tariff costs associated with products imported from China[63](index=63&type=chunk) - As of June 29, 2025, the company had **$7.7 million** outstanding on its revolving line of credit with **$12.2 million** available for borrowing[71](index=71&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=17&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company faces interest rate risk on variable-rate debt, commodity price risk from China sourcing, and significant market concentration risk - A one percentage point increase in interest rates would decrease annual net income by approximately **$108,000**, based on the **$13.9 million** of variable-rate debt outstanding[77](index=77&type=chunk) - The company is exposed to commodity price risk from changes in the cost of cotton, oil, and labor in China, its primary sourcing location[78](index=78&type=chunk) - Significant market concentration risk exists, with the top two customers representing **66%** of gross sales and licensed products accounting for **50%** of gross sales in fiscal year 2025[79](index=79&type=chunk) [Item 4. Controls and Procedures](index=17&type=section&id=Item%204.%20Controls%20and%20Procedures) Disclosure controls and procedures were deemed ineffective due to a material weakness in internal control over financial reporting, with remediation ongoing - The company's principal executive and financial officers concluded that disclosure controls and procedures were **not effective** as of June 29, 2025[80](index=80&type=chunk) - The ineffectiveness is due to a material weakness in internal control over financial reporting concerning the review and approval of manual journal entries, as previously reported in the Form 10-K for the year ended March 30, 2025[81](index=81&type=chunk) - Remediation efforts include improving internal control policies for segregation of duties and enhancing the review process for manual journal entries[83](index=83&type=chunk)[86](index=86&type=chunk) [PART II – OTHER INFORMATION](index=19&type=section&id=PART%20II%20%E2%80%93%20OTHER%20INFORMATION) [Item 1. Legal Proceedings](index=19&type=section&id=Item%201.%20Legal%20Proceedings) The company is not involved in any legal proceedings expected to materially adversely affect its financial condition or operations - The company reports no material legal proceedings that would be expected to have a significant adverse impact on its business[88](index=88&type=chunk) [Item 1A. Risk Factors](index=19&type=section&id=Item%201A.%20Risk%20Factors) No material changes to previously disclosed risk factors have been reported since the last annual filing - No material changes to the risk factors from the company's Annual Report on Form 10-K for the year ended March 30, 2025, have been reported[89](index=89&type=chunk) [Item 6. Exhibits](index=20&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including financing agreements, officer certifications, and interactive data files - The exhibits filed with this report include the Nineteenth Amendment to the Financing Agreement with CIT Group, certifications by the CEO and CFO, and interactive data files[98](index=98&type=chunk)[102](index=102&type=chunk)

Exhibit 99.1 SBC Medical Group Holdings Announces Second Quarter 2025 Financial Results IRVINE, Calif. — Aug 13, 2025—(BUSINESS WIRE)—SBC Medical Group Holdings Incorporated (NASDAQ: SBC, "SBC Medical" or the "Company"), a global owner, operator and provider of management services and products to cosmetic treatment centers, today announced its financial results for the second quarter of fiscal year 2025 (three months ended June 30, 2025) and for the first half of fiscal year 2025 (six months ended June 30, ...

Exhibit 99.1 SBC Medical Group Holdings Announces Second Quarter 2025 Financial Results IRVINE, Calif. — Aug 13, 2025—(BUSINESS WIRE)—SBC Medical Group Holdings Incorporated (NASDAQ: SBC, "SBC Medical" or the "Company"), a global owner, operator and provider of management services and products to cosmetic treatment centers, today announced its financial results for the second quarter of fiscal year 2025 (three months ended June 30, 2025) and for the first half of fiscal year 2025 (six months ended June 30, ...

Instil Bio Reports Second Quarter 2025 Financial Results and Provides Corporate Update With the clearance of the U.S. IND, initiation of the U.S. clinical trial of AXN-2510/IMM2510 ("'2510") anticipated before the end of 2025 Updated '2510 monotherapy data in squamous-NSCLC to be presented at IASLC's 2025 World Conference on Lung Cancer (WCLC) by ImmuneOnco DALLAS, TX, August 13, 2025 (GLOBE NEWSWIRE) Instil Bio, Inc. ("Instil") (Nasdaq: TIL), a clinical-stage biopharmaceutical company focused on developing ...

[Financial Highlights](index=1&type=section&id=Financial%20Highlights) PFG saw strong Q4 and full FY2025 growth in case volume, sales, and Adjusted EBITDA, but GAAP Net Income and Diluted EPS decreased due to acquisition costs [Fourth-Quarter Fiscal 2025 Highlights](index=1&type=section&id=Fourth-Quarter%20Fiscal%202025%20Highlights) PFG's Q4 FY2025 achieved double-digit growth in case volume, net sales, and Adjusted EBITDA, primarily from Independent Foodservice, yet Net Income and Diluted EPS declined significantly Q4 Fiscal 2025 Key Metrics vs. Q4 Fiscal 2024 | Metric | Q4 FY2025 | YoY Change | | :--- | :--- | :--- | | Net Sales | $16.9 billion | +11.5% | | Gross Profit | $2.0 billion | +14.6% | | Total Case Volume | N/A | +11.9% | | Net Income | $131.5 million | -21.0% | | Adjusted EBITDA | $546.9 million | +19.9% | | Diluted EPS | $0.84 | -21.5% | | Adjusted Diluted EPS | $1.55 | +6.9% | [Full-Year Fiscal 2025 Highlights](index=1&type=section&id=Full-Year%20Fiscal%202025%20Highlights) PFG's full FY2025 saw robust growth in net sales and Adjusted EBITDA, with strong operating cash flow, but Net Income and Diluted EPS declined significantly Full-Year Fiscal 2025 Key Metrics vs. Full-Year Fiscal 2024 | Metric | FY 2025 | YoY Change | | :--- | :--- | :--- | | Net Sales | $63.3 billion | +8.6% | | Gross Profit | $7.4 billion | +12.8% | | Total Case Volume | N/A | +8.5% | | Net Income | $340.2 million | -22.0% | | Adjusted EBITDA | $1.8 billion | +17.3% | | Diluted EPS | $2.18 | -21.9% | | Adjusted Diluted EPS | $4.48 | +4.2% | | Operating Cash Flow | $1.2 billion | N/A | | Free Cash Flow | $704.1 million | N/A | [Financial Performance Analysis](index=3&type=section&id=Financial%20Performance%20Analysis) PFG's FY2025 saw strong top-line growth from case volume and acquisitions, but net income declined due to higher operating and financing costs related to these acquisitions - CEO George Holm credited the **strong financial results** to contributions from all three operating segments and successful market share gains, highlighting the ongoing integration of Cheney Brothers and José Santiago[4](index=4&type=chunk)[6](index=6&type=chunk) [Fourth-Quarter Fiscal 2025 Financial Summary](index=3&type=section&id=Fourth-Quarter%20Fiscal%202025%20Financial%20Summary) Q4 net sales and Adjusted EBITDA grew significantly, driven by case volume and acquisitions, but net income declined due to increased operating expenses and financing costs from recent acquisitions - Net sales growth was driven by recent acquisitions (including Cheney Brothers), a favorable shift in case mix, and price inflation of approximately **4.3%**[8](index=8&type=chunk) - Operating expenses increased by **18.3%**, primarily due to acquisitions, higher personnel costs, and increased depreciation, partially offset by lower fuel prices[10](index=10&type=chunk) - The decrease in net income primarily resulted from higher depreciation, amortization, and interest expense related to recent acquisitions, outweighing gross profit contributions from new businesses[11](index=11&type=chunk) [Full-Year Fiscal 2025 Financial Summary](index=3&type=section&id=Full-Year%20Fiscal%202025%20Financial%20Summary) Full-year net sales and Adjusted EBITDA rose significantly, but net income decreased due to higher costs associated with recent acquisitions and increased average borrowings - Full-year net sales growth was driven by acquisitions, an **8.5%** increase in total case volume, and product cost inflation of approximately **4.7%**[13](index=13&type=chunk)[14](index=14&type=chunk) - Gross profit grew **12.8%** due to acquisitions, procurement efficiencies, and a favorable sales mix with growth in the independent channel[15](index=15&type=chunk) - Net income declined primarily due to increased depreciation, amortization, and interest expense related to acquisitions and higher average borrowings[17](index=17&type=chunk) [Cash Flow, Capital Allocation, and Share Repurchases](index=5&type=section&id=Cash%20Flow%2C%20Capital%20Allocation%2C%20and%20Share%20Repurchases) PFG generated strong FY2025 operating cash flow, increased capital expenditures, and actively managed its capital structure through share repurchases, including a new, larger program [Cash Flow and Capital Spending](index=5&type=section&id=Cash%20Flow%20and%20Capital%20Spending) Operating cash flow increased in FY2025 due to higher operating income, but free cash flow decreased due to a significant increase in capital expenditures Fiscal 2025 Cash Flow Summary (in millions) | Metric | Fiscal 2025 | Fiscal 2024 | | :--- | :--- | :--- | | Cash Flow from Operating Activities | $1,210.1 million | $1,163.0 million | | Capital Expenditures | $506.0 million | $395.6 million | | Free Cash Flow | $704.1 million | $767.4 million | [Share Repurchase Program](index=5&type=section&id=Share%20Repurchase%20Program) PFG repurchased common stock in FY2025 and authorized a new, larger share repurchase program, replacing the previous authorization - In fiscal year 2025, the company repurchased **0.8 million shares** for a total of **$57.6 million**, at an average cost of **$75.53 per share**[21](index=21&type=chunk) - A new **$500 million** share repurchase program was authorized on May 27, 2025, with an expiration date of May 27, 2029[22](index=22&type=chunk) [Segment Performance (Q4 Fiscal 2025)](index=5&type=section&id=Segment%20Performance%20(Q4%20Fiscal%202025)) All three operating segments contributed to Q4 growth, with Foodservice as the primary driver, showing significant increases in net sales and Adjusted EBITDA from acquisitions and independent case growth [Foodservice](index=5&type=section&id=Foodservice) The Foodservice segment's Q4 net sales and Adjusted EBITDA surged, driven by acquisitions, significant total case volume growth, and a rise in organic independent case volume Foodservice Q4 FY2025 Performance | Metric | Q4 FY2025 | YoY Change | | :--- | :--- | :--- | | Net Sales | $9.2 billion | +20.0% | | Adjusted EBITDA | $386.9 million | +26.3% | | Total Case Growth | N/A | +17.4% | | Organic Independent Case Growth | N/A | +5.9% | - Growth was driven by recent acquisitions (including Cheney Brothers), case volume growth in independent and Chain business, and higher selling prices[23](index=23&type=chunk) [Convenience](index=5&type=section&id=Convenience) The Convenience segment reported Q4 increases in net sales and Adjusted EBITDA, attributed to higher selling prices from inflation, a recent acquisition, and modest organic case volume growth Convenience Q4 FY2025 Performance | Metric | Q4 FY2025 | YoY Change | | :--- | :--- | :--- | | Net Sales | $6.4 billion | +2.8% | | Adjusted EBITDA | $120.0 million | +4.8% | | Organic Case Volume Growth | N/A | +0.6% | - Adjusted EBITDA growth resulted from higher gross profit from inventory holding gains and a favorable product mix, partially offset by increased personnel expenses[26](index=26&type=chunk)[27](index=27&type=chunk) [Specialty](index=7&type=section&id=Specialty) The Specialty segment's Q4 net sales and Adjusted EBITDA grew, supported by increased case volume, particularly in vending, office coffee, value, and retail channels Specialty Q4 FY2025 Performance | Metric | Q4 FY2025 | YoY Change | | :--- | :--- | :--- | | Net Sales | $1.3 billion | +4.1% | | Adjusted EBITDA | $93.2 million | +9.0% | | Total Case Volume Growth | N/A | +4.2% | - Adjusted EBITDA growth was driven by higher gross profit from sales growth and inventory holding gains, with operating expenses only slightly increasing due to cost controls and lower fuel expense[29](index=29&type=chunk) [Fiscal 2026 Outlook](index=7&type=section&id=Fiscal%202026%20Outlook) PFG projects continued growth in both net sales and Adjusted EBITDA for fiscal 2026, with specific guidance provided for Q1 and the full year Fiscal 2026 Guidance | Period | Metric | Guidance Range | | :--- | :--- | :--- | | **Q1 Fiscal 2026** | Net Sales | $16.6 billion - $16.9 billion | | | Adjusted EBITDA | $465 million - $485 million | | **Full-Year Fiscal 2026** | Net Sales | $67 billion - $68 billion | | | Adjusted EBITDA | $1.9 billion - $2.0 billion | [Financial Statements (Unaudited)](index=11&type=section&id=Financial%20Statements%20(Unaudited)) The unaudited financial statements detail sales growth but lower net income due to higher expenses, significant asset and liability expansion from acquisitions, and strong operating cash flow used for investments [Consolidated Statements of Operations](index=11&type=section&id=Consolidated%20Statements%20of%20Operations) For FY2025, net sales grew, but operating profit slightly decreased, and net income fell significantly, primarily due to a substantial increase in interest expense FY 2025 Statement of Operations Summary (in millions) | Line Item | FY 2025 | FY 2024 | | :--- | :--- | :--- | | Net sales | $63,298.9 | $58,281.2 | | Gross profit | $7,416.6 | $6,577.1 | | Operating profit | $816.3 | $826.4 | | Interest expense, net | $358.4 | $232.2 | | Net income | $340.2 | $435.9 | [Condensed Consolidated Balance Sheets](index=12&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of June 28, 2025, total assets and liabilities significantly increased, primarily driven by goodwill, intangible assets, PP&E, and long-term debt from acquisitions Balance Sheet Summary (in millions) | Line Item | June 28, 2025 | June 29, 2024 | | :--- | :--- | :--- | | Total current assets | $7,135.1 | $6,153.3 | | Goodwill | $3,480.1 | $2,418.3 | | Total assets | $17,881.2 | $13,392.9 | | Total current liabilities | $4,517.6 | $3,758.1 | | Long-term debt | $5,388.8 | $3,198.5 | | Total liabilities | $13,408.8 | $9,266.0 | | Total shareholders' equity | $4,472.4 | $4,126.9 | [Condensed Consolidated Statements of Cash Flows](index=13&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) For FY2025, net cash from operating activities was strong, with significant cash used in investing activities for acquisitions and capital expenditures, largely funded by new borrowings FY 2025 Statement of Cash Flows Summary (in millions) | Line Item | FY 2025 | FY 2024 | | :--- | :--- | :--- | | Net cash provided by operating activities | $1,210.1 | $1,163.0 | | Net cash used in investing activities | $(3,089.0) | $(682.7) | | Net cash provided by (used in) financing activities | $1,937.9 | $(472.6) | [Non-GAAP Financial Measures and Reconciliations](index=14&type=section&id=Non-GAAP%20Financial%20Measures%20and%20Reconciliations) This section explains PFG's use of non-GAAP measures like Adjusted EBITDA, Adjusted Diluted EPS, and Free Cash Flow to clarify core operating performance by excluding specific items, with detailed reconciliations provided - Management uses non-GAAP measures like **Adjusted EBITDA** and **Adjusted Diluted EPS** to evaluate business performance, for business planning, and as part of management compensation incentives[43](index=43&type=chunk)[45](index=45&type=chunk) - **Free Cash Flow** is defined as net cash provided by operating activities less capital expenditures and is used to assess the company's ability to make strategic investments and manage debt[46](index=46&type=chunk) [Reconciliation of Net Income to Adjusted EBITDA and Diluted EPS to Adjusted Diluted EPS](index=15&type=section&id=Reconciliation%20of%20Net%20Income%20to%20Adjusted%20EBITDA%20and%20Diluted%20EPS%20to%20Adjusted%20Diluted%20EPS) For FY2025, GAAP Net Income was reconciled to Adjusted EBITDA through adjustments for interest, taxes, depreciation, amortization, LIFO reserve changes, and acquisition expenses, with Diluted EPS similarly adjusted FY 2025 GAAP to Non-GAAP Reconciliation Summary (in millions) | Metric | Amount | | :--- | :--- | | Net income (GAAP) | $340.2 | | (+) Interest, Taxes, D&A | $1,194.9 | | (+) Other Adjustments | $231.8 | | **Adjusted EBITDA (Non-GAAP)** | **$1,766.9** | [Reconciliation of Net Cash Provided by Operating Activities to Free Cash Flow](index=16&type=section&id=Reconciliation%20of%20Net%20Cash%20Provided%20by%20Operating%20Activities%20to%20Free%20Cash%20Flow) Free Cash Flow for FY2025 was calculated by subtracting capital expenditures from net cash provided by operating activities, representing a decrease from the prior fiscal year FY 2025 Free Cash Flow Calculation (in millions) | Line Item | Amount | | :--- | :--- | | Net cash provided by operating activities (GAAP) | $1,210.1 | | (-) Purchases of property, plant and equipment | $(506.0) | | **Free cash flow (Non-GAAP)** | **$704.1** | [Segment Results Reconciliation](index=19&type=section&id=Segment%20Results%20Reconciliation) PFG reports performance for Foodservice, Convenience, and Specialty segments, with Foodservice being the largest contributor to both Net Sales and Segment Adjusted EBITDA in FY2025, showing strong profitability growth FY 2025 Segment Performance (in millions) | Segment | Net Sales | Segment Adjusted EBITDA | | :--- | :--- | :--- | | Foodservice | $33,646.1 | $1,221.6 | | Convenience | $24,507.5 | $407.3 | | Specialty | $4,905.0 | $348.2 | | **Total Segments** | **$63,058.6** | **$1,977.1** |

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 Table of Contents Suite 720, 999 West Broadway Vancouver, BC V5Z 1K5 (Address of principal executive offices, including zip code) Registrant's telephone number, including area code: (778) 331-0962 For the quarterly period ended June 30, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT O ...

Perspective Therapeutics Provides Recent Business Highlights and Reports 2Q 2025 Results SEATTLE – August 13, 2025 – Perspective Therapeutics, Inc. ("Perspective," the "Company," "we," "us," and "our") (NYSE AMERICAN: CATX), a radiopharmaceutical company that is pioneering advanced treatments for cancers throughout the body, today provided a business update and announced results for the quarter ended June 30, 2025. • [ 212Pb]VMT-α-NET study update presented at the 2025 ASCO Annual Meeting, based on updated ...