UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ 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: 000-41218 Zapata Quantum, Inc. (Exact name of registrant as specified in charter) Delaware 98-1578373 (State or ot ...

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 Or Commission file number: 000-41218 Zapata Quantum, Inc. (Exact name of registrant as specified in charter) Indicate by checkmark whether the reg ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 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: 000-41218 Zapata Quantum, Inc. (Exact name of registrant as specified in charter) Delaware 98-1578373 (State or other ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 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: 000-41218 Zapata Quantum, Inc. (Exact name of registrant as specified in charter) (State or other jurisdiction of incorpora ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 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: 000-41218 Zapata Quantum, Inc. (Exact name of registrant as specified in charter) Delaware 98-1578373 (State or ot ...

Financial Performance - Net sales for the three months ended October 31, 2025, were $47.6 million, an increase of $1.8 million or 4.0% compared to $45.8 million for the same period in 2024[126]. - Net sales for the nine months ended October 31, 2025, were $146.8 million, an increase of 21.8% from $120.6 million for the same period in 2024, driven by acquisitions and organic growth[133]. - Net loss for the three months ended October 31, 2025, was $(16.0) million, compared to net income of $0.1 million for the same period in 2024[132]. Gross Profit and Operating Loss - Gross profit for the three months ended October 31, 2025, was $14.1 million, a decrease of $4.5 million or 23.9% compared to $18.6 million for the same period in 2024, with gross profit as a percentage of net sales decreasing to 29.7% from 40.6%[127]. - Gross profit for the nine months ended October 31, 2025, was $48.6 million, a decrease of $1.4 million or 2.8% from $50.0 million in 2024, with gross profit margin dropping to 33.1% from 41.4%[134]. - Operating loss for the nine months ended October 31, 2025, was $(10.3) million, compared to operating income of $1.4 million for the same period in 2024, resulting in an operating margin of (7.0%)[138]. Operating Expenses - Operating expenses increased by $2.3 million or 13.1% to $20.1 million for the three months ended October 31, 2025, primarily due to acquisitions and increased stock-based compensation[128]. - Operating expenses increased by $11.1 million or 22.8% to $59.6 million for the nine months ended October 31, 2025, with operating expenses as a percentage of net sales rising to 40.6%[135]. Income Tax Expense - Income tax expense for the three months ended October 31, 2025, was $13.7 million, significantly higher than $0.1 million for the same period in 2024, resulting in an effective tax rate of (597.9%)[131]. - Income tax expense for the nine months ended October 31, 2025, was $7.3 million, compared to $0.1 million for the same period in 2024[139]. Acquisitions - The company acquired Arizona PPE for approximately $4.1 million and California PPE for a combination of $2.4 million in cash and $3.3 million in stock in September 2025[118][119]. - The company also acquired Veridian for approximately $26.1 million in December 2024, which had an annual revenue of approximately $21.0 million[120]. Cash Flow and Liquidity - Cash and cash equivalents as of October 31, 2025, were approximately $17.2 million, with a decrease of $0.3 million from January 31, 2025[142]. - Cash used in operations was $17.6 million due to a net loss of $(19.1) million and an increase in working capital of $7.9 million[144]. - The Company expects its current cash, cash equivalents, and borrowing capacity to meet projected operating and investing requirements for at least the next twelve months[145]. Sales by Region - Net sales attributable to customers outside the U.S. were $28.4 million for the three months ended October 31, 2025, compared to $30.4 million for the same period in 2024[123]. - Sales in Russia accounted for approximately 2.2% of consolidated sales for the nine months ended October 31, 2025, with no significant sales in Ukraine[125]. Cost Challenges - The company is facing increased costs due to tariffs and higher manufacturing costs, which are expected to continue affecting operating results and margins[124].

Financial Performance - Total revenue for the three months ended October 31, 2025, was $249,163,000, representing a 25% increase from $199,275,000 in the same period of 2024[22] - Gross profit for the three months ended October 31, 2025, was $176,340,000, compared to $129,945,000 for the same period in 2024, indicating a 36% increase[22] - Net loss attributable to common stockholders for the three months ended October 31, 2025, was $39,527,000, an improvement from a net loss of $61,112,000 in the same period of 2024[22] - Operating expenses for the three months ended October 31, 2025, totaled $218,566,000, up from $173,993,000 in the same period of 2024, marking a 26% increase[22] - The company reported a weighted-average share count of 93,273,982 for the three months ended October 31, 2025, compared to 35,094,547 for the same period in 2024[22] - Subscription revenue for the three months ended October 31, 2025, was $182.8 million, up 26% from $145.3 million in 2024[57] - For the three months ended October 31, 2025, total revenue was $249.2 million, a 25% increase from $199.3 million in the same period of 2024[150] - Platform revenue increased by $48.4 million, or 25%, driven by a $37.5 million increase in subscription revenue and a $10.9 million increase in usage-based products[151] Cash and Assets - Cash and cash equivalents increased to $493,238,000 as of October 31, 2025, up from $441,802,000 as of January 31, 2025[20] - Total assets as of October 31, 2025, were $1,816,571,000, compared to $1,768,648,000 as of January 31, 2025, reflecting a growth of 2.7%[20] - The total cash, cash equivalents, and restricted cash at the end of the period was $493.865 million, up from $135.086 million at the end of the same period in 2024[33] - As of October 31, 2025, the fair value of the Company's money market funds was $475.2 million, an increase from $427.8 million as of January 31, 2025[60] - The balance of common stock as of October 31, 2025, was $1.504 billion, an increase from $1.454 billion as of January 31, 2025[28] Expenses and Costs - General and administrative expenses rose by $21.5 million, or 53%, primarily due to a $19.7 million increase in personnel-related costs, including $17.9 million in stock-based compensation[159] - Research and development expenses increased by $12.6 million, or 19%, driven by a $10.4 million rise in personnel-related costs and a $2.0 million increase in infrastructure and server costs[157] - Sales and marketing expenses increased by $10.5 million, or 15%, driven by higher personnel-related costs and a shift in customer success roles to sales and marketing[156] - Total cost of revenue for the three months ended October 31, 2025, was $72.8 million, a 5% increase from $69.3 million in the same period of 2024[154] - Total debt as of October 31, 2025, was $104.6 million, consisting of a Term Loan of $106.2 million net of unamortized debt issuance costs[193] Stock and Equity - The company reported stock-based compensation expense of $142.716 million for the nine months ended October 31, 2025, compared to $69.050 million in the prior year, indicating a 106.5% increase[31] - Total stock-based compensation expense for the three months ended October 31, 2025, was $49,660 thousand, compared to $25,426 thousand in the same period of 2024, reflecting a significant increase[101] - The company had 751,305 stock options outstanding with a weighted average exercise price of $13.59 and a remaining contractual life of 5.23 years[103] - The company recognized stock-based compensation expense of $0.3 million and $1.2 million for stock options in the three and nine months ended October 31, 2025, respectively[104] Acquisitions and Investments - The company acquired Conduit Tech, Inc. for a total purchase consideration of $19.8 million, net of cash acquired of $6.3 million, in October 2025[75] - The acquisition of Convex Labs Inc. in April 2024 had a purchase price of $25.8 million, consisting of $23.5 million in stock and $2.3 million in cash[79] - The company incurred $19.781 million in cash outflows for business acquisitions during the nine months ended October 31, 2025[31] Future Outlook and Strategy - The company plans to continue investing significantly across all aspects of its business to increase GTV, focusing on serving additional customers in existing trades and markets[124] - The company aims to expand into new trade verticals, having started with plumbing and now serving multiple trades, which unlocks new markets for future customer growth[126] - The company expects its cost of platform revenue to increase in absolute dollars as the adoption and usage of its platform and product offerings increase[141] - The company expects sales and marketing expenses to increase as it invests to attract new customers and retain existing ones, with a focus on expanding its customer success team[144] Risks and Challenges - Risks and uncertainties could adversely affect the company's business, financial condition, and results of operations, potentially impacting stock price[217] - Inflation has not materially affected the company's financial condition, but rising personnel-related costs could pose future challenges[209] - A 100 basis point increase in floating interest rates would increase annual interest expense by approximately $1.1 million[207] Compliance and Controls - There were no material changes in internal control over financial reporting during the quarter ended October 31, 2025[212] - The company believes its disclosure controls and procedures are effective at a reasonable assurance level[211] - The company has not entered into derivative or hedging transactions for foreign currency but may consider it if exposure increases[208]

Exhibit 99.1 FOR IMMEDIATE RELEASE Casey's General Stores, Inc. One SE Convenience Blvd Ankeny, IA 50021 Casey's Announces Second Quarter Results Ankeny, IA, December 9, 2025 - Casey's General Stores, Inc. ("Casey's" or the "Company") (Nasdaq: CASY) one of the leading convenience store chains in the United States, today announced financial results for the three and six months ended October 31, 2025. Second Quarter Key Highlights "Casey's delivered a great second quarter highlighted by strong sales and traff ...

Store Operations and Growth - As of October 31, 2025, Casey's operates 2,921 stores, with approximately 71% located in areas with populations under 20,000[56] - The Fikes acquisition added 198 stores and a wholesale fuel network, contributing $511,805 to total revenue for the second quarter of fiscal 2026, which increased by $559,313 (14.2%) year-over-year[55][69] - Operating expenses increased by $101,908 (16.7%) to $711,587, with approximately 10.5% of the increase attributed to operating 236 more stores[73] - Total revenue for the first six months of fiscal 2026 increased by $1,028,682 (12.8%) compared to the same period in fiscal 2025, primarily driven by $1,034,139 from the Fikes acquisition[78] - Prepared food and dispensed beverage revenue rose by $103,277 (12.5%) due to a 5.0% increase in same-store sales and approximately 7.5% from store growth[78] - Grocery and general merchandise revenue increased by $297,348 (14.0%), with a 10.8% contribution from store growth and a 3.2% increase in same-store sales[78] - Retail fuel revenue grew by $450,674 (9.1%), supported by an increase of 269,982 gallons sold (17.4%), despite a 7.1% decrease in average retail price per gallon[78] - Other revenue surged by $177,383 (133.8%) primarily due to increased wholesale fuel revenue from the Fikes acquisition[79] - Operating expenses increased by $190,610 (15.6%), with 236 more stores accounting for approximately 10% of the increase[83] Financial Performance - Net income rose by $25,418 (14.0%) to $206,336, driven by higher profitability in-store and in fuel[77] - Net income rose by $60,575 (16.8%) to $421,691, attributed to higher profitability in stores and fuel, offset by increased operating expenses[86] - EBITDA for the first six months of fiscal 2026 increased by 18.7% to $824,369 compared to $694,662 in the prior year[89] - The effective tax rate decreased to 23.7% from 24.3% in the prior year, mainly due to increased excess tax benefits from share-based awards[85] - Net cash provided by operating activities was $719,486, an increase of $167,429 from the prior year, driven by improved revenue less cost of goods sold[94] Debt and Interest Expenses - Interest expense increased by $12,137 (96.7%) to $24,690, primarily due to incremental debt issued to fund the Fikes acquisition[76] - As of October 31, 2025, the Company had total long-term debt of $2,352,032,000 after accounting for current maturities and debt issuance costs[97] - The Company has a total of $818,125,000 in variable rate incremental term loan facilities, requiring quarterly installments until October 30, 2029[97] - The Company has issued various senior notes with interest rates ranging from 2.85% to 5.43%, with total amounts due across different maturities[97] - An immediate 100-basis-point increase in interest rates would result in an approximate annualized impact of $9.6 million on interest expense[105] Strategic Initiatives and Environmental Commitment - As of October 31, 2025, Casey's has 232 EV charging stations at 48 stores across 13 states, reflecting the company's commitment to an electric vehicle strategy[64] - Approximately 41% of stores offer biodiesel, and all newly built stores are equipped to sell renewable fuels, aligning with the company's environmental stewardship efforts[65] - The Company has a strategy focused on identifying, acquiring, and integrating new properties and stores to support business growth[102] Risks and Regulatory Environment - The Company emphasizes that its financial condition may be adversely affected by increases in food ingredient costs and disruptions in the distribution network[99] - The Company is subject to extensive governmental regulations that could materially impact revenues and gross profit, particularly in the tobacco and nicotine sectors[100] - The Company faces risks related to changes in consumer preferences and the need for innovative technology to maintain financial performance[99] Cost Management and Revenue Analysis - Total revenue less cost of goods sold (exclusive of depreciation and amortization) was 24.9% of revenue for the second quarter of fiscal 2026, compared to 24.3% in the prior year[71] - Fuel revenue less cost of goods sold (exclusive of depreciation and amortization) increased to 14.0% of fuel revenue, with revenue less cost of goods sold per gallon rising to 41.6 cents[72] - The Company utilizes futures contracts to hedge against fuel price volatility, ensuring that all hedges are matched against recorded physical transactions[106]

Product Development - The company has developed two product candidates, AL001 and ALZN002, targeting Alzheimer's, bipolar disorder, major depressive disorder, and post-traumatic stress disorder[103]. - AL001, an ionic cocrystal of lithium, has shown superior results in preclinical studies, preventing cognitive deficits and improving memory compared to traditional lithium carbonate treatments[109]. - A Phase IIA clinical trial for AL001 was completed in March 2023, with positive topline data announced in June 2023, and full data expected in October 2024[110]. - The maximum tolerated dose for AL001 was identified as 240 mg three times daily, designed to mitigate risks for fragile populations like Alzheimer's patients[111]. - The company plans to initiate five clinical trials to compare lithium levels in the brain between AL001 and marketed lithium salts, with a partnership established with Massachusetts General Hospital for these trials[115]. - ALZN002 is an active immunotherapy vaccine designed to treat mild to moderate Alzheimer's dementia, with a Phase I/IIA clinical trial initiated in April 2023[120][121]. - The company has received a "study may proceed" letter from the FDA for ALZN002, indicating regulatory progress for this product candidate[120]. - AL001's formulation aims to reduce systemic toxicity and improve brain bioavailability, potentially offering a safer long-term treatment option for patients[118]. Financial Performance - For the three months ended October 31, 2025, total operating expenses decreased by 27% to $998,109 from $1,358,068 in 2024[124]. - Research and development expenses for the three months ended October 31, 2025, were $176,283, a decrease of 43% from $311,088 in 2024[126]. - General and administrative expenses for the three months ended October 31, 2025, were $821,826, down 22% from $1,046,980 in 2024[130]. - The net loss for the three months ended October 31, 2025, was $1,000,758, a reduction of 26% compared to a net loss of $1,361,563 in 2024[124]. - For the six months ended October 31, 2025, research and development expenses surged by 270% to $1.9 million from $518,000 in 2024[139]. - Clinical trial fees for the six months ended October 31, 2025, increased significantly to $1.7 million from $124,000 in 2024, reflecting a 1,270% rise[141]. - The company did not generate any revenue during the three months ended October 31, 2025, and does not anticipate generating revenue in the foreseeable future[125]. - Basic and diluted net loss per common share improved to $(0.30) for the three months ended October 31, 2025, from $(3.61) in 2024[124]. - Total general and administrative expenses for the six months ended October 31, 2025, were $1.8 million, consistent with the previous year[143]. - The company incurred no marketing fees for the three months ended October 31, 2025, compared to $304,000 in 2024[136]. - Professional fees increased to $712,000 in the six months ended October 31, 2025, from $371,000 in the same period of 2024, primarily due to higher legal fees related to the termination of the ALZN002 clinical trial[146][147]. - Insurance expenses decreased to $118,000 in the six months ended October 31, 2025, compared to $139,000 in the same period of 2024[148]. - Stock-based compensation expense decreased to $74,000 in the six months ended October 31, 2025, from $163,000 in the same period of 2024, due to fewer stock options vesting[149]. - Marketing fees decreased to $150,000 in the six months ended October 31, 2025, from $344,000 in the same period of 2024[150]. - As of October 31, 2025, the company had cash of $4.4 million, working capital of $4.0 million, and an accumulated deficit of $62.2 million[152]. - The company reported net losses of $1.0 million and $3.7 million for the three and six months ended October 31, 2025, respectively[152]. - Net cash used in operating activities was $3.5 million for the six months ended October 31, 2025, primarily due to a net loss of $3.7 million[157]. - Net cash provided by financing activities was $4.0 million from the sale of Series C Convertible Preferred Stock during the six months ended October 31, 2025[159]. - The company will need to obtain substantial additional funding for clinical development activities and continuing operations[153]. Licensing and Royalties - Royalty payments for the AL001 License Agreements are set at 4.5% on net sales, with minimum royalties starting at $40,000 on the first anniversary of the first commercial sale[161].