EARNINGS PRESENTATION SECOND QUARTER 2025 08.06.2025 DISCLOSURES FORWARD-LOOKING STATEMENTS This presentation references certain financial measures that are not prepared in accordance with generally accepted accounting principles in the United States (GAAP), including, Adjusted EBITDA and free cash flow. The Company defines Adjusted EBITDA as earnings before interest expense, income taxes, depreciation and amortization, stock-based compensation and certain other items the Company believes are not indicative ...

Q3 FY25 Performance - Total revenue decreased to $62.2 million, compared to $70.5 million in Q3 FY24[5] - Gross margin increased to 73.7% from 71.5% in Q3 FY24[5] - Net loss improved to $(2.7) million from $(313.5) million in Q3 FY24[5] - Adjusted EBITDA decreased to $9.0 million from $12.5 million in Q3 FY24[5] - Cash provided by operating activities significantly increased to $48.4 million from $11.1 million in Q3 FY24[5] - Cash balance & marketable securities decreased to $73.7 million from $121.5 million in Q3 FY24[5] Revenue Details - Variable license revenue increased to $34.2 million in Q3 FY25[7] - Pro forma royalties increased to $43.2 million in Q3 FY25[9] - Adjusted Total Billings TTM increased by 3.5% to $226 million[12] Key Performance Indicators - Cerence technology is present in 52% of worldwide auto production (TTM)[12] - Approximately 12 million units shipped with Cerence technology in Q3, a 2.5% YoY increase[12] - Connected attach rate increased to 31% from 27% a year ago[12] - Average PPU on a TTM basis increased to $4.91 from $4.47 a year ago[12] Fiscal Q4 and FY25 Guidance - Q4FY25 revenue is projected to be between $53 million and $58 million[13] - FY25 revenue is projected to be between $244 million and $249 million[13]

August 6, 2025 Innovative Semiconductors / Photonics Design and Manufacturing Through AI Automation, Digital Twin Modeling, and Simulation Software APRIL 2024 From Atoms to Systems Q2 2025 Earnings Presentation This presentation and the accompanying oral presentation include express and implied "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terms such as "anticipate," "believe," "can," "co ...

Financial Performance - Total revenue for Q2 2025 reached $415813 million, a 28% increase compared to $324918 million in Q2 2024[11] - Company-operated shop revenue increased to $3805 million in Q2 2025 from $2953 million in Q2 2024[11] - Adjusted EBITDA increased by 37% to $89 million in Q2 2025, compared to $65 million in Q2 2024[13] - Net income attributable to Dutch Bros Inc increased to $25624 million in Q2 2025 from $11940 million in Q2 2024[31] Sales Metrics - Systemwide same shop sales increased by 61% in Q2 2025[17] - Company-operated same shop sales increased by 78% in Q2 2025[17] - Dutch Rewards transactions accounted for 716% of total transactions[36] Shop Expansion - The total shop count reached 1043 in Q2 2025, up from 912 in Q2 2024, representing a 14% increase[10] - Company-operated shops increased to 725 in Q2 2025 from 612 in Q2 2024, an 18% increase[10] Outlook - The company projects total revenue between $159 billion and $160 billion for FY 2025[23] - The company anticipates same shop sales growth of approximately 45% for FY 2025[23]

Financial Performance - Total revenue for Q2 2025 was $236 million, a 6% year-over-year increase[6] - Adjusted EBITDA for Q2 2025 reached $105 million, representing a 3% year-over-year growth[6] - Adjusted EPS for Q2 2025 was $034, a 10% year-over-year increase[6] - Free Cash Flow for Q2 2025 was $40 million, a 55% year-over-year increase[6] Strategic Highlights - Colorado and Nevada passed School Bus Stop Arm Enforcement laws, creating an incremental total addressable market of $40 million[10] - Government Solutions achieved solid Q2 bookings, potentially adding $21 million of incremental full run-rate ARR, bringing the trailing twelve months total to approximately $60 million[10] - A new $100 million stock repurchase program was authorized by the Board, valid through November 2026[10] Segment Performance - Commercial Services revenue increased by 5% year-over-year, driven by increased product adoption and tolling activity[11] - Government Solutions service revenue grew by 7% year-over-year, with 11% growth outside of New York City[11] - Parking Solutions SaaS and Services revenue remained relatively flat year-over-year, primarily due to a decline in installation and other professional services[11] 2025 Financial Outlook - The company reaffirmed its 2025 financial outlook, but noted a risk to the lower end of guidance ranges due to uncertainty in travel demand[11] - The company expects total revenue growth of 6% at the mid-point of guidance, resulting in revenue between $925 million and $935 million[43]

Investor Presentation August 2025 1 Disclaimer Forward-looking statements and other information This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect our current views with respect to, among other things, future events and our financial performance. These statements are often, but not always, made through the use of words or phrases such as "may," "should," "could," "predict," "potential," "b ...

Financial Performance - Upwork's Q2 2025 adjusted EBITDA reached $57.1 million, a 40% year-over-year increase[21] - The company's Q2 2025 adjusted EBITDA margin hit a record 29.3%[21] - Upwork's Q2 2025 free cash flow generation was strong at $65.6 million[21] - Cash, cash equivalents, and marketable securities totaled approximately $635 million at the end of Q2 2025[21] - In Q2 2025, total GSV was $1,002.7 million, a decrease of 1% year-over-year[57] - In Q2 2025, total revenue was $194.9 million, an increase of 1% year-over-year[57] Growth Initiatives - GSV from AI-related work grew 30% year-over-year in Q2 2025, with some subcategories growing over 50% year-over-year[16] - Business Plus GSV grew 190% quarter-over-quarter in Q2 2025[17] - The company is positioned to increase wallet share within the $650 billion Enterprise opportunity[26] - Ads & monetization revenues grew 17% year-over-year[46]

Financial Performance - SuRo Capital's Net Asset Value (NAV) per share reached $9.18 as of June 30, 2025, marking the greatest quarter-over-quarter increase since inception (over 35%) [8] - Net assets totaled approximately $219.4 million at the end of the quarter [8] - The company declared a cash dividend of $0.25 per share [7] - Net realized gain on investments was $21.2 million [41] - Net change in unrealized appreciation of investments was $44.8 million [41] Investment Exits - SuRo Capital exited 40% of its original aggregate position in CoreWeave, Inc, realizing a gain of approximately $15.3 million [8] - The company sold its entire position in ServiceTitan, Inc, realizing a gain of approximately $5.9 million [8] New Investments - SuRo Capital made a $5.0 million investment in Plaid Inc [10] - The company invested $250,000 in Supplying Demand, Inc (d/b/a Liquid Death) as a convertible debt investment [10] Portfolio Composition - The top 5 positions accounted for approximately 53% of the investment portfolio at fair value as of June 30, 2025 [37] - The total investment portfolio fair value was $243.8 million [37] - Artificial Intelligence Infrastructure & Applications comprised 33.1% of the portfolio fair value, amounting to $80.8 million [39]

August 2025 2Q 2025 Earnings Presentation $162.8 M Revenue ($0.3) M Net loss available to common stockholders ($0.02) Diluted EPS 2Q'25 Business Highlights +7% YoY +38% YoY +13% YoY ($1.2 M) in 2Q'24 ($0.06) in 2Q'24 Enrollment Highlights Subsequent Event ▪ APEI completed the sale of GSUSA, including the transfer of the lease obligation on July 25, 2025 FORWARD- LOOKING STATEMENTS Statements made in this presentation regarding American Public Education, Inc. or its subsidiary institutions ("APEI" or the "Co ...

Q2 2025 Performance Highlights - Revenue reached $148 million, exceeding guidance, with a reported year-over-year growth of 53%[11], and a pro forma growth of 74% excluding fitness sale[11] - Adjusted EBITDA surpassed guidance, achieving a 304% margin, a 230 bps year-over-year expansion[11] - Payments Revenue, excluding Fitness, increased by 68% year-over-year, driven by Total Payments Volume (TPV) growth[11] - The company repriced and extended its Term Loan and Revolving Credit Facility, resulting in approximately $13 million in annual interest cost savings[11] Customer and Payments Growth - The company has over 725,000 global customers and a pro forma last twelve months (LTM) revenue of $5741 million[13] - Total customers enabled with more than one solution grew by 32% year-over-year, reaching 261,000[16, 17] - Total Payments Volume (TPV) increased by 7% year-over-year, reaching $129 billion[20] Financial Metrics and Outlook - Adjusted EBITDA for Q2 2025 was $45 million[27] - Levered Free Cash Flow (LFCF) for Q2 2025 was $189 million[31] - Adjusted Unlevered Free Cash Flow (aUFCF) for Q2 2025 was $349 million, a 162% year-over-year increase[33] - The company anticipates Q3 2025 total revenue to be between $1465 million and $1495 million, and adjusted EBITDA between $41 million and $43 million[38]