Financial Performance - Revenue for 3Q25 was $455.1 million, representing a 6.6% year-over-year increase[14] - Adjusted EBITDA for 3Q25 was $261.5 million, with an Adjusted EBITDA margin of 57.5%[14] - Group ALFCF (Adjusted Levered Free Cash Flow) for 3Q25 reached $157.8 million, achieving a cash conversion rate of 60.4%[14] Regional Revenue Analysis - Nigeria's revenue in 3Q25 was $268.0 million, showing a 5.0% year-over-year increase[14] - SSA (Sub-Saharan Africa) revenue for 3Q25 amounted to $135.9 million, reflecting an 8.6% year-over-year increase[14] - Latam (Latin America) revenue in 3Q25 was $51.2 million, indicating an 11.2% year-over-year increase[14] Debt and Liquidity - Total Indebtedness as of 3Q25 was $3.9141 billion[16] - The company's cash and cash equivalents stood at $651.5 million as of 3Q25[16] - Consolidated net leverage ratio was 3.3x as of 3Q25[16] Operational Metrics - The company had 39,025 towers as of 3Q25[15] - The consolidated tenancy ratio was 1.48x in 3Q25[15]

Financial Highlights - In Q3 2025, total revenues reached US$21.1 million[9], while net income was US$9.3 million[9] - Non-Mainland China revenue contribution was 64.9% in Q3 2025[53] - In Q3 2025, the company sold 40k PetPhones[27] Business Line Performance - Life business (including PetPhone) experienced a year-over-year growth of 408.2% in Average Monthly Active Terminals (MAT) in Q3 2025[29] - Life business (excluding PetPhone) Year-over-Year Growth was 369.3% in Average Monthly Active Terminals (MAT) in Q3 2025[22] - SIM Business Line saw a year-over-year growth of 269.5% in Average Monthly Active Terminals (MAT) in Q3 2025, with over 400,000 units sold from Q1 2025 to Q3 2025[32, 33] - IoT Business Line achieved a year-over-year growth of 583.0% in Average Monthly Active Terminals (MAT) in Q3 2025[38] Operational Efficiency - Operating expenses for Q3 2025 were US$9.7 million[65] - R&D accounted for 61% of operating expenses in Q3 2025[65] - G&A accounted for 13% of operating expenses in Q3 2025[65] - S&M accounted for 26% of operating expenses in Q3 2025[65]

Company Overview - TIC Solutions is a provider of mission-critical engineering and tech-enabled services for industrial, infrastructure, and building customers[17] - The company operates across three segments: Inspection & Mitigation (~55% of 2024 revenue), Consulting Engineering (~30% of 2024 revenue), and Geospatial (~15% of 2024 revenue)[42, 60, 67] - The combined company had approximately $2 billion in revenue in 2024, with over 11,000 employees and 250+ locations[33] - Approximately 73% of the combined revenue comes from the United States, and 27% from international markets[24, 33] Strategic Priorities - The company's strategic priorities are integration, growth, and execution, focusing on unifying leadership and systems, and aligning go-to-market strategies[75, 79] - A synergy plan is in place with an estimated $25 million in cost savings[79, 91] - The company aims to invest in high-growth capabilities and end-market exposures, particularly in data centers and renewable energy[77, 80] Cross-Selling Opportunities - The combination of Acuren and NV5 presents significant cross-selling opportunities, such as expanding geographically and providing integrated asset intelligence offerings[90] - Early momentum in cross-selling includes 3D laser scanning for 1,000+ retail locations and digital twins at a Canadian mining facility[85, 89] Growth and Resilience - The company's services are mission-critical, non-discretionary, and often recurring, driving resilient financial performance across economic cycles[37, 32] - The company is advancing growth in infrastructure, climate, and grid resilience through consulting engineering and geospatial services[94, 95]

Financial Performance - Riskified's Q3 2025 revenue reached $81.9 million, a 4% year-over-year increase[49, 54] - The company's gross profit for Q3 2025 was $41.1 million[49] - Adjusted EBITDA for Q3 2025 was $5.6 million, a 518% year-over-year improvement[49, 56] - Non-GAAP operating expenses decreased from 49% to 44% of revenue year-over-year[57] - Riskified repurchased approximately 5.2 million ordinary shares for approximately $25.3 million in Q3 2025[63] Market Position and Growth - Riskified reviewed $148 billion in GMV in the last twelve months ended September 30, 2025[16, 20] - The company estimates the global ecommerce GMV to be $6.5 trillion in 2025 and $8.3 trillion in 2029[21] - Riskified's non-GAAP gross profit margin as of LTM Q3 2025 was 51%[18] - The company expects over $30 million in Free Cash Flow in 2025[73]

Business Performance - Lucid Diagnostics achieved a record quarterly revenue of $1.2 million in Q3 2024, a 20% increase compared to the previous quarter[6] - EsoGuard test volume reached 2,787 in Q3 2024[6] - Over 7,000 firefighters have undergone EsoGuard esophageal precancer testing[6] - Year-to-date revenue for 3Q24 reached $3.149 million, a $1.761 million increase compared to $1.388 million in 3Q23[34] Strategic Accomplishments - The ESOGUARD BE-1 clinical validation study was accepted for peer-reviewed publication[8] - A key patent underlying EsoGuard received a Notice of Allowance[8] - Lucid Diagnostics met with CMS Medicare Administrative Contractor (MAC) Palmetto GBA's Molecular Diagnostics Program (MolDX) to discuss EsoGuard clinical evidence package for upcoming submission for Medicare coverage[8] Financials - Cash reserves decreased from $24.920 million in 2Q24 to $14.489 million in 3Q24, a decrease of $10.431 million[32] - Net loss for 3Q24 was $(12.371) million, compared to $(14.208) million in 3Q23, an improvement of $1.837 million[34] - Non-GAAP adjusted loss per share improved from $(0.22) in 3Q23 to $(0.20) in 3Q24[34] - Shares outstanding increased from 49.3 million in 2Q24 to 51.6 million in 3Q24, an increase of 2.3 million shares[32]

Financial Performance Highlights - Third quarter revenue reached $26.031 million, exceeding guidance and marking a 157% increase year-over-year, the highest level in 8 quarters[7] - Non-GAAP Gross Margin was 7.7%, surpassing guidance and representing the best level in 5 years[7] - Adjusted EBITDA was $(4.0) million, also exceeding guidance[7] - The company secured a $75 million facility and closed on $37.5 million, strengthening the balance sheet[7] Financial Metrics Improvement - Revenue increased by 30% quarter-over-quarter[17] - Non-GAAP Gross Margin increased by 2510 basis points quarter-over-quarter and 4600 basis points year-over-year[17] - U S GAAP gross margin improved from (42.5%) in Q3 2024 to 6.1% in Q3 2025[18] - Non-GAAP gross margin improved from (38.3%) in Q3 2024 to 7.7% in Q3 2025[18] Outlook - The company projects fourth quarter revenue between $30.0 million and $35.0 million[19] - The company projects Non-GAAP Gross Margin between 12.7% and 23.4% for the fourth quarter[19]

Financial Performance & Guidance - Valens Semiconductor reported Q3 2025 revenue of $17335 million[70], with a GAAP gross margin of 630%[70] - The company's Q3 2025 Adjusted EBITDA loss was $4298 million[70] - Revenue guidance for Q4 2025 is $182-$189 million[71] - The company anticipates full year 2025 revenue between $694 million and $701 million[71], representing approximately 20% year-over-year growth[77] - The gross margin guidance for 2025 is 580%-600%[71] - Adjusted EBITDA loss for 2025 is projected to be between $42 million and $46 million[71] Market Opportunities & Strategy - Valens Semiconductor targets revenue of $220 million to $300 million by 2029[74] - The company is focused on growth in the Pro AV, Industrial Machine Vision, and Automotive markets[74] - The automotive total addressable market (TAM) is projected to reach $45 billion by 2029[34], with 14 billion chips per year[34] - The video conferencing total addressable market (TAM) is projected to reach $350 million by 2028/2029[25]

Financial Performance - Q3 2025 revenue reached $45.6 million, a 25% year-over-year increase[9] - Q3 2025 GMV totaled $197.2 million, representing a 21% year-over-year growth[9] - Loss before income tax improved to $17.7 million in Q3 2025[7], a 1% year-over-year improvement[9] - Adjusted EBITDA loss was $14.0 million in Q3 2025, compared to $17.0 million in Q3 2024[9, 69] Usage and Customer Metrics - Physical goods orders increased by 34% year-over-year in Q3 2025[7, 20] - Quarterly Active Customers for physical goods grew by 23% year-over-year[7, 17] - Cash burn increased to $15.8 million in Q3 2025, compared to $12.4 million in Q2 2025[7, 9] Regional Performance - Nigeria showed strong momentum, with physical goods orders up 30% and GMV up 43% year-over-year[7] - Egypt's physical goods GMV, excluding corporate sales, grew by 44% year-over-year[25, 26] Future Outlook - The company is on track for targeted full-year 2027 profitability[7] - The company forecasts Loss before Income tax to be between negative $50 million and negative $55 million for full-year 2025[62]

INVESTOR PRESENTATION Q3 2025 INVESTOR PRESENTATION INVESTOR PRESENTATION Q3 2025 Q3 2025 1 NOTES REGARDING THIS PRESENTATION This presentation contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements relating to the expected performance of our business, future financial results, strategy, long-term growth and overa ...

Financial Highlights - Total revenue & reserve income reached $740 million, a 66% year-over-year increase[11] - Adjusted EBITDA was $166 million, up 78% year-over-year[11] - Adjusted EBITDA margin was 57%, a 737 bps increase year-over-year[11] Stablecoin Network Growth - USDC onchain volume reached $96 trillion, a 68x year-over-year increase[11] - Stablecoins in circulation grew 59% year-over-year[16] - USDC onchain transaction volume increased 74x year-over-year[22] - CCTP volume increased 74x year-over-year[22] - Meaningful wallets increased 77% year-over-year[22] Guidance Update for FY 2025 - Other revenue is expected to be between $90 million and $100 million[52] - Revenue less Distribution Costs (RLDC) Margin is expected to be approximately 38%[52] - Adjusted operating expenses are projected to be between $495 million and $510 million[52]