Thomson Reuters 2025 Second-Quarter Results August 6, 2025 euters TRI NasdaqListed Agenda | ● | Welcome / Introduction | Gary Bisbee | | --- | --- | --- | | ● | Second-Quarter 2025 Highlights | Steve Hasker | | | Product & Innovation Update | David Wong | | ● | Financial Review | Mike Eastwood | | | Second-Quarter 2025 Results | | | | 2025 Full-Year Outlook Update | | Q & A ● 2 Special Note Special Note Reqarding Forward-Looking Statements, Material Assumptions and Material Risks This presentation consists ...

Financial Performance - Revenue for Fiscal Q3 2025 was $673.8 million, a decrease of 3.5% compared to $698.2 million in Fiscal Q3 2024[15] - Gross profit decreased by 10.1% year-over-year, from $202.5 million in Fiscal Q3 2024 to $182.1 million in Fiscal Q3 2025[15] - Gross margin decreased by 197 basis points year-over-year, from 29.0% in Fiscal Q3 2024 to 27.0% in Fiscal Q3 2025[15] - Adjusted EBITDA decreased by 26.3% year-over-year, from $86.9 million in Fiscal Q3 2024 to $64.0 million in Fiscal Q3 2025[15] - Adjusted EBITDA margin decreased by 295 basis points year-over-year, from 12.4% in Fiscal Q3 2024 to 9.5% in Fiscal Q3 2025[15] - Free cash flow decreased by 71.1% year-over-year, from $27.7 million in Fiscal Q3 2024 to $8.0 million in Fiscal Q3 2025[15] Revenue Disaggregation - Consolidated uniforms revenue decreased by 6.7%, from $279.004 million in Fiscal Q3 2024 to $260.427 million in Fiscal Q3 2025[48] - Consolidated workplace supplies revenue decreased by 1.4%, from $419.244 million in Fiscal Q3 2024 to $413.372 million in Fiscal Q3 2025[48] - Rental revenue decreased by 2.7%, and direct sales revenue decreased by 14.2%[13] Liquidity and Debt - Total available liquidity was $290 million, including $24 million cash on hand[14] - Net debt was $1.3 billion[38] - Net leverage ratio was 4.50x[14, 38]

Q3 FY25 Financial Performance - Total company Book-to-bill was approximately 10, consistent with the normal historical range[7] - Reported sales increased by 5% year-over-year, with organic sales up over 4%[7] - Total Annual Recurring Revenue (ARR) grew by 7% year-over-year[7] - GAAP pretax margin was 160% and diluted EPS was $260[7] - Segment operating margin was 212% and Adjusted EPS was $282, exceeding expectations[7] - Achieved approximately $250 million in year-over-year productivity benefits, ahead of schedule[7] - Free Cash Flow was $489 million, compared to $238 million in Q3 FY24[14] Segment Performance - Discrete segment sales increased by approximately 10% organically, with Automotive up low teens and e-Commerce & Warehouse Automation up approximately 30%[8] - Software & Control segment sales increased by 23% due to 22% organic growth[15] - Lifecycle Services segment sales decreased by 6% organically[15] Regional Performance - North America is expected to be the strongest region in FY25, with Q3 FY25 organic sales growth of 7%[10, 11] - Latin America organic sales decreased by 14%[10] Full Year Outlook - Updated reported and organic sales growth range to (2)% to 1% year-over-year[13] - Adjusted EPS range updated to $980 - $1020[13] - Expect segment margin of approximately 20%, including over $250 million benefit from cost reduction and margin expansion actions[13] - Expect Free Cash Flow conversion of approximately 100%[13]

Nick Grant, President and CEO Duncan Gilmour, CFO and Treasurer NYSE American: INTT | NYSE American: INTT | Second Quarter 2025 Financial Results Conference Call August 6, 2025 statements. Such risks and uncertainties include, but are not limited to, any mentioned in this presentation as well as the Company's ability to execute on its Vision 2030 Growth Strategy, realize the potential benefits of acquisitions and successfully integrate any acquired operations, grow the Company's presence in its key target a ...

Financial Performance - Total revenue for Q2 2025 was $239 million, a 42% decrease compared to $415 million in Q2 2024[32] - Licensing, royalties, and other revenue amounted to $229 million in Q2 2025, a 42% decrease from $393 million in Q2 2024[32] - Product sales were $11 million in Q2 2025, a 52% decrease compared to $23 million in Q2 2024[32] - Combined R&D and SG&A expenses decreased by 41% in Q2 2025 compared to Q2 2024[26,39] - SG&A expenses decreased by 57% in Q2 2025 as the company transitions lead global commercial leadership to Sanofi[26,39] - The company had combined cash and accounts receivable of $854 million as of June 30, 2025, including $628 million in cash[28] and $226 million in accounts receivable[28] Strategic Updates - The company is prioritizing the Sanofi partnership and seeking additional partnerships to leverage its technology platform and pipeline[10] - The company anticipates receiving up to $50 million in Sanofi milestones in the fourth quarter of 2025[29] - The company updated its full-year 2025 guidance to incorporate the Nuvaxovid postmarketing commitment (PMC) study[27] Pipeline Development - The company intends to partner both the COVID-Influenza Combination (CIC) vaccine and stand-alone flu vaccine candidates, with ongoing discussions with potential partners[18] - Pre-clinical H5N1 data was published in Nature Communications, highlighting robust immune responses after a single or two-dose administration[19] Financial Outlook - The company expects adjusted total revenue for full year 2025 to be between $1 billion and $105 billion[46] - The company is targeting combined R&D and SG&A expenses less partner reimbursement of approximately $350 million in 2026 and $250 million in 2027[45]

© 2025 Bentley Systems, Incorporated. All rights reserved. August 6, 2025 1 Bentley Systems Second Quarter 2025 Results Agenda © 2025 Bentley Systems, Incorporated. All rights reserved. 3 Perspectives from the Executive Chair, Greg Bentley 01 © 2025 Bentley Systems, Incorporated. All rights reserved. 4 Total addressable market ("TAM") Perspectives from the Executive Chair 01 © 2025 Bentley Systems, Incorporated. All rights reserved. 2 Perspectives from the CEO 02 Perspectives from the CFO 03 Q&A 04 Disclaim ...

Financial Performance - In Q2 2025, trivago experienced revenue growth, confirming strong momentum[17] - Total revenue for Q2 2025 increased year-over-year[18] - The Last Twelve Months (LTM) total revenue reached €504 million, a 7% increase[24] - Adjusted EBITDA for the LTM Q2 2025 was €13.1 million, an increase of €4.4 million[24] Strategic Focus - trivago is focused on capturing demand through brand marketing, search improvements, and content enhancement[27] - The company aims to match demand and supply by offering deals and partnerships[27] - Core feature improvements are expected to substantially improve conversion rates[27] - A differentiated member proposition is aimed at increasing logged-in users across all segments[27] Partnerships and Acquisitions - trivago expanded its smart bidding and transaction-based model to over 120 partners[51] - The acquisition of Holisto was completed on July 31, 2025, for USD 25.5 million (approximately EUR 22.3 million)[56] - The acquisition of Holisto allows trivago to accelerate the expansion of trivago Book & Go[54]

Financial Performance - Revenue reached $215.4 million, a 6.4% year-over-year increase[9] - Total shipments amounted to $206.4 million, up 1.9% year-over-year[9] - GAAP gross margin was 48.5%, compared to 47.8% in Q2 2024[9] - Non-GAAP gross margin was 48.7%, versus 48.2% in Q2 2024[9] - GAAP operating income was $31.7 million, down 15.7% year-over-year, representing 14.7% of revenue[9] - Non-GAAP operating income was $41.5 million, a 20.2% year-over-year decrease, accounting for 19.3% of revenue[9] - Diluted GAAP earnings per share were $0.44, compared to $0.35 in Q2 2024[9] - Diluted non-GAAP earnings per share were $0.54, slightly down from $0.55 in Q2 2024[9] Revenue Breakdown by Product Category - ECP, Furnace & Other contributed $155.0 million in revenue, up 1.1%, representing 72% of the revenue mix[13] - Cleaning products generated $48.0 million in revenue, a 23.2% increase, accounting for 22% of the revenue mix[13] - Advanced Packaging & Other brought in $12.4 million in revenue, up 20.4%, representing 6% of the revenue mix[13]

Q2 2025 Earnings Presentation This presentation contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon the current expectations of Acacia Research Corporation ("Acacia" or the "Company") and speak only as of the date hereof. All statements other than statements of historical fact are forward-looking statements and include statements related to estimates and projections with respect to, am ...

Financial Performance - Sales decreased to $824 million in Q2 2025, a 16% decrease compared to $986 million in Q2 2024[17] - Adjusted EBITDA decreased by 54% to $39 million in Q2 2025, compared to $85 million in Q2 2024[19] - Adjusted EBITDA margin decreased by 390 bps to 4.7% in Q2 2025, compared to 8.6% in Q2 2024[19] - Core revenue decreased by 13% due to lower volume/mix[20, 22] - Free Cash Flow is ~($150M)[35] Segment Results - North America net revenue decreased to $556 million in Q2 2025 from $711 million in Q2 2024, with an Adjusted EBITDA of $35 million and a margin of 6.3%[28] - Europe net revenue decreased to $268 million in Q2 2025 from $275 million in Q2 2024, with an Adjusted EBITDA of $17 million and a margin of 6.4%[28] - North America volume/mix down (16%)[29] - Europe volume/mix down (10%)[29] Outlook and Guidance - Net revenue is projected to be between $3.2 billion and $3.4 billion[34] - Core revenue is expected to be down 4% to 9%[34] - Adjusted EBITDA is projected to be between $170 million and $200 million[34] Balance Sheet - Total debt is $1,179 million as of June 28, 2025[47] - Cash is $134 million as of June 28, 2025[47] - Net debt leverage is 5.7x[47]