Q2 2025 Highlights - Transactions reached 397,000, a 26% year-over-year growth[26] - The company achieved record revenue of $74 million, a 31% year-over-year increase[26] - The platform has expanded to include 75 carriers[26] Financial Performance - Q2 2025 revenue was $74 million, exceeding the guidance of $70 million - $71 million[55] - Adjusted EBITDA for Q2 2025 was $(29) million, aligning with the guidance of $(29) million - $(28) million[55] - Non-IFRS gross margin reached 735% for Q2 2025, compared to 720% in Q2 2024[75] Guidance - Q3 2025 transaction guidance is 419,000 - 425,000, representing a 24%-25% year-over-year growth[69] - Q3 2025 revenue is projected to be $76 million - $77 million, a 23%-25% year-over-year increase[69] - Full year 2025 revenue guidance is $295 million - $300 million, reflecting a 24%-26% year-over-year growth[69] - Full year 2025 Adjusted EBITDA is expected to be $(109) million - $(105) million[69]

Tonmya Approval and Launch - TonmyaTM is the first FDA-approved medicine for fibromyalgia in over 15 years[1,13] - Tonix is well-positioned to support the commercial launch of TonmyaTM, expected in Q4 2025[13] - Tonix ended Q2 2025 with approximately $125 million in cash and cash equivalents and raised approximately $50 million in Q3 2025 through equity sales[41] - The company anticipates its cash runway will support the launch and other operations into Q3 2026[13,41] Clinical Efficacy and Safety - Clinical trials demonstrated durable reduction in fibromyalgia pain with TonmyaTM[22] - In Trial 1, the TONMYA group showed a change from baseline of -1.9 compared to -1.5 in the placebo group, with a p-value of 0.010[28] - In Trial 3, the TONMYA group showed a change from baseline of -1.8 compared to -1.2 in the placebo group, with a p-value of less than 0.001[29] - A greater percentage of study participants taking Tonmya experienced a clinically meaningful (≥30%) improvement in their pain after three months, compared to placebo[35] - The most common adverse reactions (incidence ≥2% and at a higher incidence in TONMYA-treated patients compared to placebo-treated patients) were oral hypoesthesia, oral discomfort, abnormal product taste, somnolence, oral paresthesia, oral pain, fatigue, dry mouth, and aphthous ulcer[24,40,94] Market Opportunity and Commercial Strategy - Over 10 million people in the US are living with fibromyalgia[13,50] - Approximately 5% of fibromyalgia-diagnosing HCPs write approximately 70% of fibromyalgia prescriptions[62]

Financial Performance - Q2 2025 revenue reached $811 million, a 3% year-over-year increase[50, 55] - H1 2025 revenue totaled $163447 million, a 5% year-over-year increase[55, 89] - Q2 2025 Adjusted EBITDA was $21 million[50, 57] - The company repurchased 49 million shares for $233 million in Q2 2025[58, 65] - The company has approximately $85 million remaining for share repurchases as of August 15, 2025[58, 65] Market Position and Growth - Riskified reviewed approximately $145 billion in GMV in the twelve months ended June 30, 2025[16, 18] - The company estimates the global ecommerce GMV to be approximately $65 trillion in 2025 and $83 trillion in 2029[19] - Non-GAAP operating expenses as a percentage of revenue decreased from 50% to 47% year-over-year[56] Future Outlook - The company's 2025 revenue guidance is between $336 million and $346 million[59] - The company's 2025 Adjusted EBITDA guidance is between $18 million and $26 million[59] - The company expects approximately $30 million in Free Cash Flow in 2025[74]

Company Overview and Milestones - CBAK was among the first to research lithium battery applications in cars, positioning itself as a pioneer in the EV era[9] - Model 32140 cells captured 19% of the global market share, while Model 26650 captured 64% of the global market share in 2024[12] - Nanjing Branch reported a net income of RMB 2846 million with a gross margin of 2751% for the first 6 months of 2025[13] Production Capacity and Expansion - Dalian Branch's production capacity is expected to reach 33 GWh by 2025, mainly for Model 40135 cells[19] - Nanjing Branch has two production lines with a capacity of 13 GWh for lithium-ion batteries, or 06 GWh with one line for lithium-ion batteries and 048 GWh with the other line for sodium-ion batteries[24] - CBAK is planning to expand Nanjing Branch's capacity up to 20 GWh once fully constructed[24] Product Portfolio and Development - Model 40135 is about 5 times the capacity of Model 26650, 15% higher in energy density and 12% lower in cost[37] - Model 32140 sales volume captured 19% of global market share, Model 26650 for 64% of global market share[12] Financial Performance and Projections - Net revenues from battery business in the first half of 2025 totaled $7546 million, with residential energy supply & uninterruptable supplies accounting for 4704%[49] - Sales forecast for the battery segment in 2025 is projected to reach RMB 14 billion, a 4098% increase over 2024[69] - Net income for the battery segment is projected to reach RMB 100 million in 2025[70]

Financial Performance - Q2 2025 revenue reached $155.6 million[9], compared to $99.2 million[9] in Q2 2024, representing a significant increase - Adjusted EBITDA for Q2 2025 was $17.3 million[11], while Q2 2024 saw $23.5 million[11] - The company reported a net loss after tax of $147.7 million[12] for Q2 2025 - Cash and cash equivalents totaled $299.8 million[12], with crypto holdings of $169.3 million[12] Operational Highlights - SEALMINER A2 sales generated $69.5 million[12] in revenue - 21.2 EH/s of SEALMINER A2 mining rigs have been manufactured, with an additional 0.4 EH/s in final assembly as of the end of July 2025[13] - Self-mining hash rate increased from 11.5 EH/s in March 2025 to 16.5 EH/s in June 2025[15] - Hash rate of mining rigs sold increased ~17x, from 0.3 EH/s in Q1 2025 to 5.0 EH/s in Q2 2025[17] Future Growth & Capacity - The company has 1.3 GW of existing power capacity and a secured 2.7 GW pipeline[35] - Potential ASIC Revenue TAM is estimated at ~$21.25 billion[24] - Potential SEALMINER Revenue at 30% market share is estimated at ~$6.4 billion[26]

Product & Indication - PAPZIMEOS is the first and only FDA-approved therapy for the treatment of adults with Recurrent Respiratory Papillomatosis (RRP)[11, 44, 55] - PAPZIMEOS is a non-replicating adenoviral vector-based immunotherapy indicated for the treatment of adults with recurrent respiratory papillomatosis[27] - The recommended dose of PAPZIMEOS is 5×10^11 particle units (PU) per injection, administered subcutaneously four times over a 12-week interval[27] Clinical Data - The pivotal study demonstrated a 51% Complete Response Rate (95% CI [34-69%])[37] - 15 out of 18 Complete Responders evaluated at 2 years demonstrated continued Complete Response[37] - PAPZIMEOS was well-tolerated with no dose-limiting toxicities and no treatment-related adverse events greater than Grade 2[37] Commercial Strategy & Launch - The company is employing a targeted launch strategy with a field team covering >90% of ENT patient potential[47] - 93 IDNs and community hospitals account for 80% of initial target potential, with a total target universe of ~500 accounts[48] - 18 dedicated sales territories will cover >90% of ENT patient potential[47] RRP Market - Approximately 27,000 adult patients in the US have RRP[16] - IDNs and Community hospitals account for >90% of identified patient potential[46]

Transaction Overview - Formpipe is divesting its Public Sector business area to STG for up to SEK 850 million[4] - The Board intends to distribute a substantial portion of the proceeds to shareholders and reinvest the rest in Lasernet[4] - Major shareholders representing 20% of votes have entered into voting undertaking agreements[6] Financial Details - The purchase price includes SEK 775 million in cash at closing[7] - SEK 50 million will be paid through a loan note payable in 2029 with a 4.25% compounding interest rate[7] - An additional SEK 25 million will be paid if STG achieves a certain return on its investment[7] Business Performance (2024) - Formpipe Public's ARR was SEK 239 million with a 7% growth[8] - Formpipe Public's Revenue was SEK 306 million with a -5% growth[8] - Lasernet's ARR was SEK 220 million with a 21% growth[8] - Lasernet's Revenue was SEK 223 million with a 11% growth[8] - Formpipe Public's Adjusted Cash EBITDA margin was 15%[8] - Lasernet's Adjusted Cash EBITDA margin was 10%[8] Lasernet Business - Lasernet's ARR Q1'25 was SEK 214 million[11] - Lasernet serves various industries, with 68% of ARR from SaaS Support & Maintenance and 32% from other sources[11]

Financial Performance Highlights - Credicorp achieved a Return on Equity (ROE) of 20.9% in 1H25[91], and the long-term sustainable ROE target was raised from approximately 18% to approximately 19.5%[102] - Net Interest Income (NII) increased by 5.3% year-over-year (YoY) in 2Q25[83] - Fee income increased by 8.2% YoY[19], and gains on FX transactions increased by 7.9% YoY[19], while insurance underwriting results increased by 11.2% YoY[19] Key Ratios and Metrics - The Common Equity Tier 1 (CET1) ratio stood at 12.56%[14, 19], a 51 basis points (bps) increase YoY[19] - The Non-Performing Loan (NPL) ratio decreased by 102 bps YoY to 5.0%[19] - The Cost of Risk (CoR) decreased by 141 bps YoY to 1.6%[19] - The Net Interest Margin (NIM) increased by 9 bps YoY to 6.4%[19] - Low-cost deposits accounted for 57.2% of the funding base, a 274 bps increase YoY[19] Business Segment Performance - Universal Banking demonstrated strong profitability, with an ROE of 30.9% in 2Q25[37] - Yape's lending operations saw significant growth, with the number of users with loans increasing from 0.8 million in 2Q24 to 3.0 million in 2Q25[45, 47], and lending revenue share increasing from 4% to 18% over the same period[45, 47] - Mibanco Peru's ROE increased to 16.3% in 2Q25[50], driven by improved risk management and a stronger NIM[49] - Grupo Pacifico's insurance service income was S/ 847.914 million in 2Q25[59], with insurance service expenses accounting for 68.3% of the income[59] Economic Outlook and Guidance - The company expects a GDP growth of around 3%[14, 96] - The company updated its 2025 guidance, expecting a total loan portfolio growth of around 6.5%[96]

Financial Performance - Cosan's EBITDA under management reached R$ 60 billion, a decrease from R$ 73 billion in 2Q24[6] - Dividends and Interest on Capital Received amounted to R$ 06 billion, down from R$ 21 billion in 2Q24[6] - Net Debt remained stable at R$ 175 billion, consistent with 1Q25[6] - Net Income was R$ (09) billion, compared to R$ (02) billion in 2Q24[6] Operational Highlights - Rumo experienced higher transported volume, reaching 218 billion RTK, a 4% increase[12] and increased EBITDA (+6%)[12] - Compass saw growth in distributed volume (+9%)[12] - Moove experienced lower EBITDA (-12%) due to a reduction in lubricant volumes sold (-13%)[12] - Raízen experienced a reduction in EBITDA (-23%), lower crushing in ESB offset by better performance of Fuel Distribution Brazil[13] Sugarcane crushing was 25 million tons, a 21% decrease[13] - Radar's portfolio land value is R$ 168 billion, with Cosan's stake at R$ 52 billion[13] Liability Management - Cosan Corporate's Net Debt was R$ 175 billion in 2Q25[15] - The Debt Service Coverage Ratio (DSCR) was 12x LTM[6, 15] - The average cost of debt is 088%[17]

Financial Performance - Net Revenue reached R$15365 million in 2Q25[7], compared to R$14930 million in 2Q24[7], and R$30877 million in 1H25[7], compared to R$28307 million in 1H24[7] - Adjusted EBITDA was R$2502 million in 2Q25[7], compared to R$2621 million in 2Q24[7], and R$5255 million in 1H25[7], compared to R$4737 million in 1H24[7] - Net Income was R$735 million in 2Q25[7], compared to R$1094 million in 2Q24[7], and R$1920 million in 1H25[7], compared to R$1688 million in 1H24[7] - Free Cash Flow was R$842 million in 2Q25[7], compared to R$1728 million in 2Q24[7], and R$2124 million in 1H25[7], compared to R$2572 million in 1H24[7] - Leverage reached a historical low of 043x in 2Q25[7] Segment Performance - Brazil segment experienced sequential volume growth, particularly in Processed products, leading to increased productivity and market share gains[15] Adjusted EBITDA Margin was 164%[16] - International segment mitigated the impact of chicken export restrictions through market diversification and a broad product portfolio, maintaining good price levels[25] Adjusted EBITDA Margin was 173%[26] - Other Segments, including Ingredients, saw Adjusted EBITDA of R$52 million in 2Q25 with an 81% margin[34] Strategic Initiatives - BRF+ program generated additional savings of R$208 million in efficiencies in 2Q25[62] - The company entered the chilled chicken segment in Saudi Arabia with the launch of the Sadia Fresh line[62] - The client base in Brazil exceeds 330k[19]