H1 2025 Performance - Audioboom's gross revenue reached $35.1 million, a 3% increase compared to H1 2024[8] - Gross profit increased by 30% to $7.4 million compared to H1 2024[8] - Adjusted EBITDA saw a significant increase of 500% to $1.8 million compared to H1 2024[8] - Showcase revenue grew by 24% year-on-year[9] Updated Outlook & Adelicious Acquisition - Market expectations for 2025 are upgraded to $83.2 million of revenue and $4.9 million adjusted EBITDA following the Adelicious acquisition[9] - The acquisition of Adelicious is expected to add 20 million monthly downloads and 5 million unique listeners to Audioboom[56] - Audioboom expects to recognize $3.2 million of Adelicious's 2025 revenue in FY 2025[33, 53] - Updated 2026 market expectations include revenue of $94.5 million and adjusted EBITDA of $7.2 million[53] Strategic Initiatives - Audioboom initiated its M&A strategy with the acquisition of Adelicious Ltd at a <1X revenue multiple[2] - The acquisition of Adelicious creates the 2nd largest podcast network in the UK[2] - Brand investment in podcasting is 4.5X higher on a per capita basis in the USA than the UK[40]

Acquisition Highlights - doValue will acquire 100% of coeo Group from Waterland Private Equity for €350 million upfront cash consideration (including repayment of coeo’s debt) plus up to €40 million earnout in 2028[14, 15] - The acquisition is expected to be financed with a c €325 million bridge-to-bond facility[15] - The acquisition is expected to close by January 2026[14, 55] Strategic Rationale - The acquisition accelerates doValue's growth, diversification, and digital transformation, enabling it to evolve into a long-term high-growth company[15] - coeo's digital capabilities will accelerate the development of doValue's digital platform and its ability to compete in the non-financial receivables space[27] - The acquisition provides access to the high-growth BNPL and e-commerce markets, which are de-correlated from the macro cycle and NPE volumes[27, 29] - The acquisition diversifies doValue's business into the non-financial receivables segment, with non-NPL revenues expected to reach approximately 55% of Group revenues by 2026[11, 50] Financial Impact - The acquisition is expected to result in superior earnings accretion, exceeding 30% in 2027, excluding synergies[15, 45] - coeo's revenue contribution in 2024 was €182 million, with a growth of 38%[44, 47] - coeo's EBITDA contribution in 2024 was €75 million, with a growth of 45%[47] - Post-transaction, leverage is expected to increase to approximately 2.5x in 2025, with deleveraging down to approximately 2.2x in 2026 and 1.7x in 2027[15, 46]

Company Overview - Nordnet is a leading Nordic broker with 2.23 million customers across 4 Nordic countries as of June 2025 [5] - The company's savings capital reached SEK 1,064 billion as of June 2025 [5] - Nordnet facilitated 58 million on-exchange trades in LTM 2Q25 [5] Market Position and Strategy - Nordnet holds the 1 market share in the Nordics among online platforms [10] - The company aims to grow within the Saver segment, targeting the 1 choice for savers by focusing on funds, pension, and ease of use [20] - Nordnet intends to maintain dominance within the Investor segment by enhancing its platform and products [20] Financial Performance and Targets - Nordnet's adjusted revenue for LTM 2Q25 was SEK 5,231 million, representing a CAGR of 25% since 2019 [39] - The company's adjusted operating expenses for LTM 2Q25 were SEK 1,553 million [54] - Nordnet targets customer growth of 13-15% per annum and an average savings capital per customer of around SEK 500k [62] Expansion and Future Growth - Nordnet is planning to launch in Germany in H2 2026, aiming to diversify its business and tap into a large addressable market [67] - The company's strategic ambitions include building the best platform for savings and investments and capturing Nordic growth potential [70] - Nordnet aims to deliver superior shareholder returns through buybacks and a dividend payout ratio of 70% [64]

Project Overview - The Syerston Scandium Project boasts the largest high-grade scandium resource globally and is development-ready[12] - A feasibility study update is underway for the Syerston Scandium Project[12] - The project has a granted Mining Lease (ML1770) and secured water rights[42] Scandium Market Dynamics - Solid oxide fuel cells account for 75% of global scandium demand, followed by aluminum alloys at 20% and semiconductors at 5%[18] - Over 90% of world demand is from US industry, for both civilian and defense applications[18] - China dominates global scandium supply, exceeding the share of many strategic metals[22] - In April 2025, China declared scandium a 'dual-use item', leading to export controls[25] Syerston Resource Estimate - The Syerston Mineral Resource Estimate (JORC 2012) contains a Measured plus Indicated resource of 235 Mt at 408 ppm Sc, containing 9,583 t of Sc[45] - At a 300 ppm Sc cut-off, the Syerston Mineral Resource Estimate (JORC 2012) contains a Measured plus Indicated plus Inferred resource of 603 Mt at 390 ppm Sc, containing 23,554 t of Sc[45] - At a 600 ppm Sc cut-off, the Syerston Mineral Resource Estimate (JORC 2012) contains a Measured plus Indicated plus Inferred resource of 08 Mt at 663 ppm Sc, containing 501 t of Sc[45] Scandium in Aluminum Alloys - Scandium additions of 010%wt to aluminum billet adds between $090 to $180/lb to the cost[33] - Scandium is the most potent alloy for aluminum, enhancing strength, extrudability, corrosion resistance, and weldability[29]

Financial Performance - The company maintained its 2025 outlook, with Q2 performance aligning with expectations[12] - Core FFO/Share for Q2 2025 was $0.59, reflecting a (1.7%) growth[18] - Year-to-date 2025 Core FFO/Share was $1.21, a 3.4% increase[18] - The company projects incremental NOI of $195 million, representing 28% growth[14] Portfolio Performance - Total Portfolio Cash NOI Growth for Q2 2025 was 5.7%[18] - Total Portfolio Net Effective NOI Growth for Q2 2025 was 2.9%[18] - Same Property Cash NOI Growth for Q2 2025 was 3.9%[18] - Same Property Net Effective NOI Growth for Q2 2025 was 1.1%[18] Strategic Capital Allocation - The company executed over 900,000 SF of leasing year-to-date and stabilized 7 projects year-to-date at a 7.4% unlevered yield[12] - The company completed dispositions of 209,000 SF in Q2 2025, generating $82 million in total sales price and an 12.8% unlevered IRR[24] Balance Sheet and Liquidity - The company has a strong balance sheet with 4.0x Net Debt/EBITDAre and $1.8 billion of liquidity[12]

Financial Performance - For the three months ended June 30, 2025, lease revenue was $177468 thousand, compared to $162075 thousand for the same period in 2024[14] - Net income available to common stockholders for the three months ended June 30, 2025, was $55185 thousand, compared to $51318 thousand for the same period in 2024[14] - Funds From Operations (FFO) allocable to common stockholders and unitholders for the three months ended June 30, 2025, was $102800 thousand, compared to $89647 thousand for the same period in 2024[15] - Adjusted Funds From Operations (AFFO) for the three months ended June 30, 2025, was $84160 thousand, compared to $74139 thousand for the same period in 2024[15] Portfolio Composition - As of June 30, 2025, the total number of in-service properties was 414, with a gross leasable area of 68044707 square feet and an occupancy rate of 942%[33] - Same Store NOI Cash Basis (Less Termination Fees) increased by 87% for the three months ended June 30, 2025, compared to the same period in 2024, reaching $121947 thousand[34] Debt Analysis - The total weighted average interest rate on debt outstanding was 410% as of June 30, 2025, compared to 416% as of June 30, 2024[21] - Fixed-rate debt accounted for $2379774 thousand of the total debt outstanding as of June 30, 2025[21] Leasing Activity - For the three months ended June 30, 2025, new leases commenced totaled 411 thousand square feet with a cash basis rent growth of 405%[36] - Tenant retention by square feet was 710% for the three months ended June 30, 2025[36] Outlook - The company estimates Funds From Operations - FFO (NAREIT) to be between $288 and $296 per share/unit for 2025[68]

Financial Performance Highlights - Banner Corporation reported net income of $45.5 million for the second quarter of 2025, slightly up from $45.1 million in the previous quarter[7] - The return on average assets was 1.13%, and the return on average equity was 9.92%, compared to 1.15% and 10.17% respectively in the prior quarter[7] - Net interest margin (tax equivalent) remained steady at 3.92%[7] - The efficiency ratio (GAAP) decreased by 71 basis points to 62.50%, and the adjusted non-GAAP efficiency ratio decreased by 190 basis points to 60.28%[7] Loan Portfolio and Credit Quality - HFI Loan growth reached $547 million year-over-year (5%) and $252 million quarter-over-quarter (9% annualized)[7] - Total loan originations (excluding HFS) amounted to $967 million[7] - The allowance for credit losses was $4.8 million, driven by loan growth and risk rating downgrades; the allowance for credit losses to total loans was 1.37%[7] - Non-performing assets remained low at 0.30% of total assets, a slight increase of 4 basis points from the last quarter[7] Balance Sheet and Capital Management - As of the reporting period, Banner Corporation's assets totaled $16.4 billion, deposits were $13.5 billion, and loans amounted to $11.7 billion[9] - The company announced a dividend of $0.48 per share to be paid in August 2025[7] Strategic Focus and Market Position - Banner Corporation emphasizes its core banking competency, revenue growth, net interest margin protection, careful spending, and moderate risk profile[8, 10] - The company operates in a region with strong population growth, particularly in Idaho (20% projected growth)[11]

Company Overview - Triumph's market capitalization was $1.5 billion as of July 11, 2025 [9] - The company's revenue for the trailing twelve months (TTM) ending June 30, 2025, was $419 million [9] - Net income to common shareholders for the same period was $10.4 million [9] - The U S freight and logistics industry represents a $990 billion market based on gross freight revenue from U S trucking on primary shipments [14] Factoring - Triumph is the 2 transportation factor in the U S [17] - The factoring portfolio turns 10.4x annually [17, 36] - The average discount rate for factoring is 1.37% [17, 33] - Triumph purchased $11 billion in transportation accounts receivable over the last 12 months [33] Payments & Intelligence - Triumph handles payments for 41 of the top 100 freight brokers [24, 44] - Triumph disburses over $155 million every day [24] - Triumph's Network Engagement touches over 63% of all brokered freight [44, 54] - Triumph Intelligence processes $70 billion in annual, verified freight transaction data [28, 54]

Consolidated Results - Net sales remained unchanged at $1,179.4 million, with a 0.7% organic sales decline offset by a 0.7% favorable currency translation[10] - Gross profit was $595.5 million, representing a gross margin of 50.5%, a decrease of 10 bps from the previous year's 50.6%[10] - Operating earnings were $327.3 million, resulting in an operating margin of 25.5%, a decrease from 27.4% in the prior year[10] - Diluted EPS decreased by 6.9% to $4.72[10] Segment Performance - **Commercial & Industrial:** Sales decreased by 6.5% to $347.8 million, with a 7.6% organic sales decline[11] - **Snap-on Tools:** Sales increased by 1.9% to $491.0 million, driven by a 1.6% organic sales increase[12] - **Repair Systems & Information:** Sales increased by 3.0% to $468.6 million, with a 2.3% organic sales gain[13] - **Financial Services:** Revenue increased by 1.2% to $101.7 million, while operating earnings decreased by 2.8%[14] Financial Position - Gross finance portfolio totaled $2,540.8 million[15] - Net debt was $(254.6) million, resulting in a net debt to capital ratio of (4.7)%[17] Cash Flow - Net cash provided by operating activities was $237.2 million[16] - Free cash flow was $191.1 million[16]

Non-GAAP Financial Measures Quarterly Results 2Q25 Conference Call July 17, 2025 Forward Looking Statements The information included in this document contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and involve certain risks and uncertainties that may cause actual results to differ materially from those expressed in the forward-looking statements. Factors that might cause su ...