Financial Performance - Solana Company reported third quarter revenue of $697,000, including first-time staking rewards income of $342,000[4] - Total operating expenses for the third quarter of 2025 were $36.0 million, compared to $3.9 million in the prior year period[6] - The net loss for the third quarter of 2025 was $352.8 million, or a loss of $32.89 per basic and diluted common share, compared to a net loss of $3.7 million in the prior-year period[10] Capital and Funding - The company closed a $508 million PIPE transaction on September 18, 2025, and launched an ATM program to raise additional capital[4][7] - Cash and liquidity as of September 30, 2025, included $124 million in cash and $350.2 million of digital assets at fair value, totaling $474.2 million[11] Expenses - Selling, general and administrative expenses increased to $4.6 million from $2.9 million in the prior year, primarily due to a $1.5 million discretionary bonus[5] - Research and development expenses decreased to $0.9 million from $1.1 million in the prior year, driven by reduced clinical trial activities[5] Asset Valuation - An unrealized loss on digital assets of $30.5 million was recorded due to the net change in fair value of digital assets held by the company[5] Product Development - The company announced positive clinical data for the PoNS device, demonstrating its effectiveness in improving gait deficits[7] Strategic Goals - Solana Company aims to maximize SOL per share through strategic use of capital markets and on-chain opportunities[13]

Financial Performance - Consolidated sales increased by $1.5 million, or 0.3%, in the second quarter of fiscal 2026 compared to the same period last year, while sales decreased by $1.9 million, or 0.2%, in the first six months[109]. - Operating income for the second quarter of fiscal 2026 was $36,179,000, a decrease of 6.7% from $38,772,000 in the same quarter of fiscal 2025[108]. - The operating margin decreased to 6.9% in the second quarter of fiscal 2026 from 7.4% in the same quarter of fiscal 2025[108]. - Gross margin decreased by 10 basis points in the second quarter of fiscal 2026 compared to the same period last year, driven by increased supply chain costs[112]. - SG&A expenses as a percentage of sales increased by 40 basis points in the second quarter of fiscal 2026 due to fixed cost deleverage in the Retail segment[112]. - Retail segment sales increased by $0.5 million, or 0.2%, in Q2 2026, and by $5.3 million, or 1.2%, in the first six months compared to the same periods last year[114]. - Wholesale segment sales rose by $5.5 million, or 2%, in Q2 2026, and by $7.6 million, or 1%, in the first six months compared to the same periods last year[118]. - Operating income for the Retail segment decreased by 14.6% in Q2 2026 and by 23.9% in the first six months compared to the same periods last year[114]. - Operating margin for the Retail segment fell by 190 basis points in Q2 2026 and by 290 basis points in the first six months compared to the same periods last year[116]. - Gross margin for the Wholesale segment increased by 100 basis points in Q2 2026 and by 40 basis points in the first six months compared to the same periods last year[119]. - Corporate and Other sales decreased by $3.4 million, or 8.1%, in Q2 2026, and by $10.9 million, or 13.5%, in the first six months compared to the same periods last year[122]. Cash Flow and Investments - Net cash provided by operating activities was $86.3 million in the first six months of fiscal 2026, an increase of $18.1 million compared to the same period last year[132]. - Capital expenditures in the first six months of fiscal 2026 were $38.9 million, primarily related to new stores and manufacturing investments[134]. - Cash and cash equivalents increased to $338.5 million as of October 25, 2025, compared to $328.4 million at April 26, 2025[130]. - Cash paid to shareholders in quarterly dividends was $18.1 million, with expectations for regular quarterly dividends to continue[143]. - Cash used to repurchase 0.3 million shares of company stock amounted to $13.3 million, with 3.4 million shares remaining available for repurchase as of October 25, 2025[143]. - Cash paid for tax withholding on stock issued as part of employee benefit plans was $4.9 million, net of proceeds from exercised stock options[143]. Strategic Initiatives - The company aims to grow sales and market share through its Century Vision strategic plan, targeting its centennial year in 2027[100]. - The company plans to expand its retail store network and upgrade existing locations to new concept designs to drive growth in the Retail segment[106]. - The La-Z-Boy Stores retail network consists of 370 stores, over 500 La-Z-Boy Comfort Studio locations, and over 800 La-Z-Boy branded space locations[102]. - Joybird operates 14 small-format stores and focuses on a digital-first consumer experience to drive profitable growth[103]. - The company has approximately 7.7 million square feet of proprietary floor space dedicated to selling La-Z-Boy branded products in North America[102]. Tax and Accounting - The effective tax rate was 26.7% for Q2 2026 and 26.1% for the first six months, compared to 26.3% and 25.9% for the same periods last year[128]. - There were no material changes to critical accounting policies during the six months ended October 25, 2025[144]. - Recent accounting standards and their impacts were discussed in the Quarterly Report on Form 10-Q[145]. - No material changes in market risk disclosures were noted during the first six months of fiscal 2026[146].

Sales Performance - Total sales for the second quarter reached $522 million, a slight increase of 0.3% compared to the prior year[3] - Retail segment written sales grew by 4%, while same-store sales decreased by 2%, indicating sequential improvement over the last two quarters[4] - Fiscal third quarter sales are expected to be between $525 million and $545 million, reflecting a year-over-year growth of 1-4%[6] - Consolidated sales for the quarter ended October 25, 2025, were $522.48 million, slightly up from $521.03 million in the same quarter last year, representing a 0.3% increase[27] - The wholesale segment reported sales of $369.44 million, up from $363.90 million, a 1.4% increase year-over-year[33] - The retail segment sales remained relatively stable at $222.04 million compared to $221.56 million in the previous year, reflecting a slight increase of 0.2%[33] Profitability Metrics - GAAP operating margin was 6.9%, down from 7.4% in the prior year, while adjusted operating margin was 7.1%, down from 7.5%[12] - Diluted earnings per share (EPS) were $0.70 on a GAAP basis and $0.71 on an adjusted basis, compared to $0.71 in the prior year[12] - Operating income decreased to $36.18 million for the quarter, down 6.7% from $38.77 million in the same quarter last year[27] - Net income attributable to La-Z-Boy Incorporated for the quarter was $28.86 million, a decrease of 3.9% from $30.04 million in the prior year[27] - Diluted net income per share was $0.70, compared to $0.71 in the same quarter last year, reflecting a decline of 1.4%[27] - Adjusted net income attributable to La-Z-Boy Incorporated for the six months ended October 25, 2025, was $48,892, down from $56,678 in the prior year, representing a decrease of approximately 13%[34] Cash Flow and Assets - Generated $50 million in operating cash flow for the quarter, which is three times the amount from the same period last year[4] - Total current assets increased to $823.26 million from $805.69 million, marking a growth of 2.2%[29] - Total assets rose to $1.96 billion, up from $1.92 billion, indicating a 1.9% increase[29] - Cash and cash equivalents at the end of the period were $338.51 million, up from $328.45 million, showing a growth of 0.3%[31] Segment Performance - The wholesale segment reported an operating income of $29,056 for the quarter, which is 7.9% of sales, compared to $24,529 (6.7% of sales) in the same quarter last year[38] - The retail segment's operating income decreased to $23,821 (10.7% of sales) from $27,897 (12.6% of sales) year-over-year[38] - The corporate and other segment reported an operating loss of $16,698 for the quarter, compared to a loss of $13,654 in the same quarter last year[38] Strategic Initiatives - Announced a 10% increase in quarterly dividend to $0.242, marking the fifth consecutive year of double-digit increases[4] - Completed a 15-store acquisition in the southeast U.S., expected to add approximately $80 million in annual retail sales[4] - Plans to exit non-core businesses and proposed closure of the UK manufacturing facility, which will reduce sales by approximately $30 million net[4] Other Financial Metrics - Gross profit for the quarter was $231.14 million, compared to $230.65 million in the prior year, indicating a marginal increase of 0.2%[27] - GAAP gross profit for the quarter ended October 25, 2025, was $231,138, compared to $230,648 for the same quarter last year, reflecting a slight increase[34] - Adjusted gross profit for the six months ended October 25, 2025, was $442,412, slightly down from $444,131 in the prior year[34] - The company incurred distribution transformation charges of $768 in the current quarter, compared to no charges in the same quarter last year[34]

Financial Performance - Cambium Networks Corporation announced an update on recent financial and commercial activity on November 18, 2025[6] - The financial results and operational updates are detailed in Exhibit 99.1 of the report[7] Market Conditions - The press release includes forward-looking statements regarding the company's performance and market conditions[6] - The report emphasizes caution regarding factors that could cause actual results to differ from anticipated outcomes[6] Company Information - The company is listed on the Nasdaq Global Market under the symbol CMBM[5]

Financial Performance - For the three months ended September 30, 2025, the company reported a net loss of $341,897, with operating costs of $428,114 and a gain on investments held in the Trust Account of $119,784[143]. - For the nine months ended September 30, 2025, the company had a net loss of $863,650, resulting from operating costs of $1,150,604 and a gain on investments held in the Trust Account of $370,226[145]. - The company incurred net cash used in operating activities of $1,041,916 for the nine months ended September 30, 2025, due to the net loss and changes in working capital[147]. Capital and Funding - The company generated gross proceeds of $115,000,000 from the Initial Public Offering of 11,500,000 units on May 9, 2023[150]. - As of September 30, 2025, the company had $319,258 in cash and cash equivalents held outside of the Trust Account and a working capital deficit of $3,049,242[152]. - The company has deferred underwriting fees of $5,175,000 and up to $1,710,000 in promissory notes due upon the completion of its business combination[158]. Business Operations - The company has not engaged in any operations or generated revenues to date, focusing solely on financing and organizational activities[142]. - The company has not entered into any off-balance sheet financing arrangements as of September 30, 2025[159]. Future Plans - The company has until September 9, 2026, to complete a business combination, with the possibility of monthly extensions thereafter[155]. - The company plans to address its liquidity concerns through the successful closing of a business combination[153].

Financial Results - KULR Technology Group, Inc. announced financial results for Q3 2025, with specific figures to be detailed in the press release[5] - The report was filed on November 18, 2025, indicating the date of the earliest event reported[2] - The press release is attached as Exhibit 99.1, providing detailed financial data and insights[11] Company Information - The company is listed on NYSE American LLC under the trading symbol KULR[3] - KULR Technology Group is classified as an emerging growth company, which may influence its financial reporting standards[4] - The company’s principal executive offices are located in Webster, Texas[2] Operational Highlights - The press release includes recent operational highlights, which may impact future performance[7] - The financial results and operational updates are not deemed "filed" under the Securities Exchange Act, indicating a specific regulatory compliance approach[10] Investor Communication - The company utilizes various social media channels for public disclosures, enhancing investor communication[9] - The report emphasizes the importance of reviewing the company's website and social media for material information updates[9]

Financial Performance - For the three months ended September 30, 2025, the company reported a net loss of $341,897, with operating costs of $428,114, offset by a gain on investments held in the Trust Account of $119,784[143]. - For the nine months ended September 30, 2025, the company had a net loss of $863,650, resulting from operating costs of $1,150,604, offset by a gain on investments held in the Trust Account of $370,226[145]. - The company incurred net cash used in operating activities of $1,041,916 for the nine months ended September 30, 2025, due to its net loss[147]. Cash and Working Capital - As of September 30, 2025, the company had $319,258 in cash and cash equivalents held outside of the Trust Account and a working capital deficit of $3,049,242[152]. - The company has incurred $5,175,000 in deferred underwriting fees and up to $1,710,000 in promissory notes due upon completion of its business combination[158]. Business Combination - The proposed business combination with Cartiga, LLC is expected to close in the first quarter of 2026, pending shareholder approval[141]. - The company has until September 9, 2026, to complete its business combination, with the option to extend on a month-to-month basis[155]. Operations and Revenue - The company has not engaged in any operations or generated revenues to date, focusing solely on financing and organizational activities[142]. - There were no cash flows from investing activities for the nine months ended September 30, 2025 and 2024[149]. Initial Public Offering - The company generated gross proceeds of $115,000,000 from its Initial Public Offering of 11,500,000 units on May 9, 2023[150].

Financial Performance - Total revenue for Q4 FY25 was $307 million, a slight increase from $305 million in Q4 FY24[7] - GAAP net income for Q4 FY25 was $49 million, or $0.51 per diluted share, down from $59 million, or $0.61 per diluted share in Q4 FY24[7] - Non-GAAP net income for Q4 FY25 was $96 million, or $0.99 per diluted share, compared to $78 million, or $0.81 per diluted share in Q4 FY24[7] - Full year FY25 total revenue reached $1.35 billion, up from $1.27 billion in FY24[7] - Full year FY25 GAAP net income was $255 million, or $2.62 per diluted share, compared to $262 million, or $2.69 per diluted share in FY24[7] - Non-GAAP full year net income for FY25 was $414 million, or $4.24 per diluted share, compared to $369 million, or $3.79 per diluted share in FY24[7] - Total revenue for the fiscal quarter ended September 26, 2025, was $307,024 thousand, a slight increase from $304,806 thousand in the same quarter of 2024, representing a growth of 0.7%[24] - Licensing revenue for the fiscal year ended September 26, 2025, reached $1,248,017 thousand, up from $1,181,794 thousand in 2024, marking a year-over-year increase of 5.6%[30] - Gross profit for the fiscal year ended September 26, 2025, was $1,188,998 thousand, compared to $1,133,225 thousand in 2024, reflecting a growth of 4.9%[24] - Operating income for the fiscal quarter ended September 26, 2025, was $29,677 thousand, down from $46,354 thousand in the same quarter of 2024, a decrease of 36.0%[24] - Net income attributable to Dolby Laboratories, Inc. for the fiscal year ended September 26, 2025, was $255,018 thousand, a decrease from $261,825 thousand in 2024, representing a decline of 2.6%[24] - GAAP net income for Q4 2025 was $49.332 million, down from $58.570 million in Q4 2024, while non-GAAP net income increased to $96.252 million from $78.436 million[32] - GAAP diluted earnings per share for Q4 2025 was $0.51, compared to $0.61 in Q4 2024, while non-GAAP diluted earnings per share rose to $0.99 from $0.81[32] - For fiscal year 2025, GAAP net income was $255.018 million, slightly down from $261.825 million in fiscal year 2024, with non-GAAP net income increasing to $413.511 million from $369.016 million[32] Cash Flow and Assets - Cash flows from operations for FY25 were $472 million, an increase from $327 million in FY24[7] - Cash and cash equivalents increased to $701,893 thousand as of September 26, 2025, from $482,047 thousand in 2024, an increase of 45.5%[26] - Total current assets rose to $1,388,261 thousand as of September 26, 2025, compared to $1,194,417 thousand in 2024, indicating an increase of 16.2%[26] - The company reported a net cash provided by operating activities of $472,198 thousand for the fiscal year ended September 26, 2025, compared to $327,252 thousand in 2024, an increase of 44.4%[28] Expenses and Liabilities - Research and development expenses for the fiscal year ended September 26, 2025, were $261,792 thousand, slightly down from $263,663 thousand in 2024, a decrease of 0.7%[24] - Total liabilities decreased to $595,814 thousand as of September 26, 2025, from $623,035 thousand in 2024, a reduction of 4.4%[26] - Stock-based compensation for fiscal year 2025 amounted to $128.514 million, up from $119.825 million in fiscal year 2024[32] - The company reported restructuring charges of $6.128 million in Q4 2025, compared to a credit of $(1.290) million in Q4 2024[32] Future Projections - Dolby expects Q1 FY26 total revenue to range from $315 million to $345 million[11] - For FY26, total revenue is projected to be between $1.390 billion and $1.440 billion[11] - The estimated GAAP gross margin for Q1 2026 and fiscal 2026 is projected at 88.0%, with a non-GAAP gross margin of 90.0%[33] - GAAP operating expenses for Q1 2026 are estimated between $235 million and $245 million, while non-GAAP operating expenses are projected between $195 million and $205 million[33] - The GAAP diluted earnings per share for Q1 2026 is estimated to be between $0.39 and $0.54, with non-GAAP diluted earnings per share projected between $0.79 and $0.94[33] - The effective tax rate for Q1 2026 is expected to be 23.0%, with a non-GAAP effective tax rate of 21.0%[33] - The weighted-average shares outstanding for diluted earnings per share in Q1 2026 is estimated at 96,800 thousand[33] Dividends - Dolby announced a cash dividend of $0.36 per share, payable on December 10, 2025[9]

Energy Storage and Robotics - KULR Technology Group reported a focus on energy storage systems and robotics, with the KULR ONE® platform as the strategic core of its business[142] - The KULR ONE® platform includes various offerings such as K1 Space, K1 Guardian, K1 Max, and K1 Air, targeting sectors like aerospace, defense, and energy storage[144] - KULR's battery management system (kBMS) is designed for both space and terrestrial applications, emphasizing safety and performance under extreme conditions[157] - The KULR ONE® Max platform is engineered for grid energy storage and AI data center backup, meeting UL 9540/9540A safety standards[151] - KULR has expanded into low-volume production of custom lithium-ion batteries, enhancing capabilities for the commercial space and defense sectors[177] - The company acquired intellectual property from Vibetech International to enhance its energy management solutions, focusing on reducing energy loss from vibrations[178] - KULR's kBMS will integrate with Nvidia Jetson to create KULR Core™, enabling AI capabilities for battery management and mission autonomy[160] - KULR's testing capabilities for cells and batteries have been significantly expanded over the last three years, focusing on abuse, electrical, and environmental testing[175] - KULR VIBE technology demonstrated a 23% increase in battery life and a 45% lift increase in a mission-critical drone application[179] - KULR's SafeCASE technology addresses the battery recycling market, which is expected to reach over $77 billion by 2034[185] - KULR's thermal management solutions are critical for the aerospace and defense industries, which are projected to be worth nearly $3 trillion in 30 years[186] Financial Performance - Total revenue for the three months ended September 30, 2025, was $6,884,840, representing an increase of $3,699,062 or 116% compared to $3,185,778 in the same period of 2024[209] - Revenue from product sales during the three months ended September 30, 2025, increased by $859,728 or 112% compared to the same period in 2024, driven by a new client base generating more significant revenue per contract[210] - Revenue from mining digital assets for the three months ended September 30, 2025, was $4,396,603, with a total of 55.70 bitcoin earned from mining operations since the initial contract on March 7, 2025[216] - Research and development expenses for the three months ended September 30, 2025, were $2,323,010, an increase of $1,090,677 or 89% compared to the same period in 2024, due to planned increases in R&D services and new hires[223] - Selling, general and administrative expenses for the three months ended September 30, 2025, were $6,263,803, representing an increase of $3,528,384 or 129% compared to $2,735,419 in the same period of 2024[227] - Gross profit for the three months ended September 30, 2025, was $628,880, a decrease of $1,628,572 or 72% compared to $2,257,452 in the same period of 2024, with gross profit margins dropping from 71% to 9%[220] - Bad debt expenses for the three and nine months ended September 30, 2025, were $780,643, attributed to the write-off of accounts receivable associated with the company's Investee[229] - Impairment of equipment deposits for the nine months ended September 30, 2025, was $1,355,174, with no impairment expenses recorded in the same period of 2024[230] - Other income for the three months ended September 30, 2025, was $1,764,661, an increase of $2,058,125 compared to $(293,464) in the same period of 2024, primarily due to a $6,837,563 unrealized gain on Bitcoin holdings[231] - For the nine months ended September 30, 2025, other income increased by $11,204,070, primarily due to a $14,456,623 unrealized gain on Bitcoin holdings[232] Bitcoin and Mining Operations - KULR has deployed 3,570 Bitmain S19 XP 140T Bitcoin mining machines, increasing operational capacity to 750 petahash per second (PH/s)[201] - The company purchased 783.81 Bitcoin at an average cost of $101,683 per Bitcoin, totaling $79,700,002 during the nine months ended September 30, 2025[190] - KULR entered into a Master Loan Agreement with Coinbase for a revolving credit facility of up to $20 million[199] - The company issued 9,420,337 shares of common stock for aggregate gross proceeds of $107,311,618 during the nine months ended September 30, 2025[193] - KULR's Xero Vibe fan technology aims to improve cooling efficiency and reduce power consumption in server and data centers[182] - The company has adopted Bitcoin as its primary treasury reserve asset and plans to continue accumulating Bitcoin without a specific target[233] - As of September 30, 2025, the company held Bitcoin valued at $120,523,261, compared to $20,281,184 as of December 31, 2024, representing a significant increase[237] - Net cash used in operating activities for the nine months ended September 30, 2025, was $31,039,539, compared to $12,498,818 for the same period in 2024[238] - Net cash used in investing activities during the nine months ended September 30, 2025, was $85,499,202, primarily related to investments in digital assets of $79,700,002[239] - Net cash provided by financing activities for the nine months ended September 30, 2025, was $107,295,479, significantly higher than $12,427,476 in 2024, mainly due to proceeds from ATM equity financings[241] - The company entered into multiple lease agreements for Bitcoin mining machines, with total lease costs amounting to $8,556,045[234] - The average value of Bitcoin earned through machine lease agreements was $109,254, with a total of 55.70 Bitcoin mined[234] - As of September 30, 2025, cash balances were $20,588,596, down from $29,831,858 as of December 31, 2024[237] - The company repaid the remaining balance of the loan payable on October 15, 2025, improving its liquidity position[243] Partnerships and Collaborations - The company has partnered with Lockheed Martin and Leidos to develop technologies for hypersonic vehicles and other defense systems[188] - The company aims to convert early design partnerships into long-term production contracts, reinforcing its core mission of delivering safe and high-performance energy solutions[166]

Capital Management and Growth - As of October 1, 2025, Golub Capital had over $85.0 billion of capital under management, indicating significant growth in assets[22]. - As of September 30, 2025, the total investments at fair value amounted to $8,769,389,000, an increase from $8,235,411,000 in 2024, representing a growth of 6.5%[49]. Market Position and Relationships - Golub Capital has closed deals with over 420 middle-market sponsors and repeat transactions with over 280 sponsors, showcasing strong market relationships[30]. - The target market includes small and middle-market companies in the U.S. with annual revenues between $10 million and $2.5 billion, representing a significant growth segment[24]. - The company has identified increased competition for direct lending to middle-market businesses, which may affect pricing terms for potential investments[28]. Investment Strategy and Risk Management - The company focuses on recession-resistant industries, aiming to generate strong risk-adjusted net returns through a diversified portfolio[33]. - The equity cushion sought by GC Advisors is generally between 35% and 45% of total portfolio capitalization, emphasizing risk management[38]. - Middle-market investments have historically generated premium yields compared to large corporate loans, particularly in uncertain market environments[28]. - GC Advisors utilizes a disciplined investment and underwriting process to minimize credit losses through effective due diligence and monitoring[31]. - The investment strategy focuses on minimizing downside risk by selecting investments with low loss probabilities and negotiating favorable covenants[64]. Investment Performance and Monitoring - The internal performance ratings distribution shows that 87.6% of investments were rated 4, indicating an acceptable level of risk, while 9.6% were rated 3, suggesting below-expectation performance[49]. - The company utilizes a monitoring template to assess investment performance and compliance with standards, emphasizing active portfolio monitoring[46]. Financial Management and Fees - The incentive fee rates were reduced from 20.0% to 15.0%, and the incentive fee cap was also reduced from 20.0% to 15.0% under the new Investment Advisory Agreement approved on June 3, 2024[80]. - The base management fee rate was reduced from 1.375% to 1.0% effective July 1, 2024[80]. - The base management fee is calculated at an annual rate equal to 1.0% of the average adjusted gross assets at the end of the two most recently completed calendar quarters[81]. Regulatory Compliance and Risk Factors - The company is subject to risks associated with the current interest rate environment, which could affect the cost of capital and net investment income[74]. - The company is exposed to credit and default risk, with portfolio companies potentially unable to repay or refinance outstanding principal[76]. - Economic recessions or downturns could impair portfolio companies, leading to defaults that harm operating results[74]. - The company must ensure that at least 70% of its total assets are qualifying assets as defined under the 1940 Act[125]. - The company is required to maintain a bond issued by a reputable fidelity insurance company to protect against larceny and embezzlement[142]. Taxation and Distribution Requirements - To qualify as a RIC, the company must distribute at least 90% of its investment company taxable income as dividends to stockholders[153]. - The company is subject to a 4% nondeductible federal excise tax on any undistributed income or capital gains[157]. - The company must derive at least 90% of its gross income from specific sources, including dividends and interest, to maintain RIC status[155]. - Distributions of net capital gains designated as "capital gain dividends" will be taxable to U.S. stockholders as long-term capital gains at a maximum rate of either 15% or 20%[173]. Interest Rate Exposure - The weighted average floor on loans with floating interest rates was 0.78% as of September 30, 2025[650]. - A hypothetical 200 basis points increase in interest rates could result in a net increase in investment income of $84,104,000[652]. - The company has entered into interest rate swaps with floating rate provisions based on SOFR, indicating exposure to interest rate fluctuations[653]. - The company expects future loans to also have floating interest rates, which are typically based on SOFR[650].