Business Overview - Superior Group of Companies operates three diversified businesses: Branded Products, Healthcare Apparel, and Contact Centers[9] - The company has shown revenue growth across all business segments, with a consolidated Compound Annual Growth Rate (CAGR) of 8%[11] - The company has paid uninterrupted dividends since 1977[10] Financial Performance - In 2024, total revenue was $566 million, compared to $377 million in 2019[12] - Branded Products revenue was $354 million in 2024, up from $228 million in 2019[12] - Healthcare Apparel revenue was $118 million in 2024, slightly up from $119 million in 2019[12] - Contact Centers revenue significantly increased to $93 million in 2024 from $31 million in 2019[12] Segment EBITDA (2024) - Branded Products EBITDA was $36287 thousand[87] - Healthcare Apparel EBITDA was $8749 thousand[87] - Contact Centers EBITDA was $12176 thousand[87]

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]

Q2 2025 Performance Highlights - Porch Shareholder Interest revenue reached $107 million[20], with a gross profit of $89.2 million[20] and an 83% gross margin[20] - Adjusted EBITDA for Porch Shareholder Interest was $15.6 million[20], representing a 15% margin[20] - Reciprocal Written Premium (RWP) grew to $120.7 million[20], a $72 million increase or 431% increase year-over-year[20, 21] - Porch Shareholder Interest Cash Flow from Operations was $14.9 million[20] Reciprocal Performance - The Reciprocal's surplus combined with non-admitted assets reached $299 million as of June 30, 2025[27], a $102 million increase compared to the prior quarter[27] and a $259 million increase compared to the prior year[27] - The company estimates that a ~$300M surplus could potentially drive ~$1.5B Reciprocal Written Premium and ~$240M Insurance Services Adjusted EBITDA[29] Segment Performance - Insurance Services revenue was $67.4 million with a gross profit of $57.9 million and Adjusted EBITDA of $19.7 million[42], representing an 86% gross margin and 29% Adjusted EBITDA margin[42, 50] - Software & Data revenue was $24.0 million with a gross profit of $18.2 million and Adjusted EBITDA of $5.5 million[42], representing a 76% gross margin and 23% Adjusted EBITDA margin[42, 54] - Consumer Services revenue was $17.7 million with a gross profit of $15.2 million and Adjusted EBITDA of $2.0 million[42], representing an 86% gross margin and 11% Adjusted EBITDA margin[42, 58] Guidance - The company increased its 2025 revenue guidance to $405 million - $425 million[68], gross profit guidance to $328 million - $342 million[68], and Adjusted EBITDA guidance to $65 million - $70 million[68]

Q2 2025 Earnings August 5, 2025 1 Safe Harbor This presentation contains "forward-looking statements" within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on information available to the Company as of the date hereof, as well as the Company's current expectations, assumptions, estimates and projections that involve risks and uncertainti ...

Financial Performance - The company's consolidated production reached 1202 thousand gold equivalent ounces (GEOs) with a cost of sales of $1396 per ounce and all-in sustaining costs (AISC) of $2068 per ounce (or $1858 per ounce excluding Çöpler)[14] - Revenue increased significantly to $4055 million in Q2 2025, compared to $1848 million in Q2 2024[15] - Net income attributable to SSRM shareholders was $901 million in Q2 2025, a substantial increase from $97 million in Q2 2024[15] - Operating cash flow was $1578 million and free cash flow was $984 million for the quarter[14] Liquidity and Capital Allocation - The company maintained a strong balance sheet with a total liquidity of $9121 million, including $4121 million in cash and cash equivalents and an undrawn $400 million revolving credit facility plus a $100 million accordion feature[9, 14] - Approximately $162 million was spent at Hod Maden in Q2 2025, bringing the year-to-date spend to $291 million[14] Operational Highlights - Marigold produced 359 thousand ounces of gold at a cost of sales of $1584 per ounce and AISC of $1977 per ounce[14] - CC&V attributable production was 441 thousand ounces of gold at a cost of sales of $1116 per ounce and AISC of $1339 per ounce[14] - Puna produced 28 million ounces of silver at a cost of sales of $1503 per ounce and AISC of $1257 per ounce[14] Çöpler Incident and Remediation - Second quarter remediation spend at Çöpler totaled $61 million, with care and maintenance costs totaling $367 million[14] - The revised estimate for reclamation and remediation costs associated with the Çöpler incident is $3129 million, reflecting an increase of $129 million above the previously disclosed estimated cost range[20]

Financial Highlights - BlackLine's Q2'25 Annual Recurring Revenue (ARR) reached $677 million, reflecting a 9% year-over-year growth[9] - The company achieved a 22% Non-GAAP Operating Margin in Q2'25[9] - BlackLine's LTM (Last Twelve Months) Free Cash Flow was $144 million, with a 21% margin[10] - Total Revenue for Q2 2025 was $172 million, a 7% year-over-year increase[43] - Total RPO (Remaining Performance Obligations) reached $944 million, an 11% year-over-year increase[43] Market and Customer Base - BlackLine estimates its Total Addressable Market (TAM) at $45 billion[8, 9, 21] - The company serves over 4,400 global customers, with over 389,000 users in 100+ countries[11] - BlackLine is trusted by over 60% of the Fortune 500 companies[11] - BlackLine has 632 customers with an ARR of $250k+[37] Growth Strategy - BlackLine aims for a target model with 13%-16% Total Revenue Growth[55] - The company is expanding into the Public Sector market[29, 35] - BlackLine is focused on deepening relationships with the world's largest and most complex organizations[32]

Financial Performance & Growth - Total revenue has grown consistently, with FY25 reaching $1595 million and a projected $1715 million for FY26 [9] - The company anticipates a 12% year-over-year (YoY) growth in total revenue [9] - Adjusted EBITDA shows increasing profitability, reaching $583 million in FY25 and a projected $614 million in FY26 [9] - The company has successfully driven approximately 400 basis points of Adjusted EBITDA margin leverage since FY23 [57] - Free Cash Flow (FCF) also demonstrates leverage, reaching $219 million in FY25 [59] Market & Product Strategy - The company estimates a Realized HCM Total Addressable Market (TAM) of approximately $22 billion [12] - The company has penetrated approximately 3% of its addressable market [13] - Over 25% of new client revenue comes from referrals from channels [46] - The company has over 92% net revenue retention as a public company [47] - Total Non-GAAP R&D investment has increased to $227 million in FY25 [24]

Financial Performance - Total revenues decreased to $190 million from $218 million, primarily due to asset sales and lower office occupancy[7, 13] - Net loss attributable to common stockholders was $(83149) thousand, or $(041) per diluted share, compared to a net loss of $(47027) thousand, or $(033) per diluted share[7, 13] - FFO (excluding specified items) was $8 million, or $004 per diluted share, compared to $245 million, or $017 per diluted share[7, 13] - AFFO was $(61) million, or $(003) per diluted share, compared to $242 million, or $017 per diluted share[7, 13] - Same-store cash NOI decreased to $87096 thousand from $104120 thousand, primarily due to lower office occupancy[7, 13] Portfolio & Leasing - In-service office portfolio occupancy was 751% and leased was 762%[7] - In-service studio portfolio stage leased was 636% and total leased was 630%[7] - Excluding Sunset Glenoaks, studio total leased would have been 743% and stage leased 800%[7, 8] - Executed 72 new and renewal leases totaling 558055 square feet[13] Balance Sheet & Liquidity - Sold office property 625 Second in San Francisco for $28 million[11] - Repaid private placement notes totaling $465 million[13] - Raised $690 million through a common equity offering[13] - Unsecured revolving credit facility undrawn capacity was $775 million and unrestricted cash and cash equivalents were $236025 thousand, resulting in $1 billion of total liquidity[7, 15] - HPP's share of net debt to HPP's share of undepreciated book value was 313%[7, 15]

Q1 2026 Financial Performance - Service revenue reached $1763 million, representing a 2% year-over-year growth[39, 40, 42] - Total revenue amounted to $1814 million, showing a 2% year-over-year increase[39, 40, 42] - GAAP operating margin stood at 03%[39] - Non-GAAP operating margin was 9%[39, 40] - Cash flow from operations was $12 million[39] - Cash, equivalents, and restricted cash totaled $82 million at quarter-end[39] Business Highlights - Voice AI Interactions increased more than 7x from Q1 2025[35] - Annual revenue from customers with 3 or more products now represents more than one-third of annual revenue, excluding consumption revenue[35] Future Guidance - Q2 2026 service revenue is projected to be between $170 million and $175 million, with a growth rate ranging from -29% to 00% year-over-year[61] - Q2 2026 total revenue is expected to be between $175 million and $180 million, with a growth rate ranging from -33% to -06% year-over-year[61] - FY 2026 service revenue is projected to be between $685 million and $700 million, with a growth rate ranging from -11% to 10% year-over-year[63] - FY 2026 total revenue is expected to be between $706 million and $720 million, with a growth rate ranging from -13% to 07% year-over-year[63]

Financial Performance & Guidance - Second quarter 2025 CAFD reached $152 million, impacted by lower renewable resource[13] - The company is updating its 2025 CAFD guidance range to $405-440 million, raising the bottom end due to closed 3rd party M&A[13,40] - The company is targeting CAFD per share to $2.50-2.70 in 2027, increased from $2.40-2.60 previously[13] - The company expects to generate over $270 million of retained CAFD cumulatively between 2025-2027 and to have over $600 million of debt capacity to fund growth[44] Growth Initiatives - The company announced a dividend increase of 1.6% to $0.4456/share in 3Q25, or $1.7824/share annualized[13] - Mt Storm repowering is set to begin in 2H25, completed in two phases in 2026 and 2027, with estimated corporate capital of ~$220-230 million and a target 5-year average incremental annual asset CAFD yield of ~11-13%[13,19] - The company signed a 15-year PPA for Goat Mountain repowering with a hyperscaler customer, targeting a 2027 COD, with estimated corporate capital of ~$200 million and a target 5-year average incremental annual asset CAFD yield of +10%[13,19] - The company received an offer to invest in a 291 MW battery storage portfolio, requiring ~$65 million of estimated corporate capital[13] - The company closed a 3rd party M&A agreement for the operational Catalina Solar project, requiring ~$122 million of estimated corporate capital[13] Pipeline & Future Growth - The late-stage pipeline through 2029 vintages has over $1.5 billion of potential corporate capital investments beyond already offered/committed projects/advanced repowerings[32] - Clearway Group has 9.4 GW of late-stage projects through the end of the decade[13,60]