Consolidated Interim Report 1 January – 30 June 2025Key points from the H1-2025 report (period 1 January - 30 June 2025) 14 August 2025Announcement no. 9 On 14 August 2025, the Board of Directors and the Executive Board of Pharma Equity Group A/S ("PEG", "The Company" or the "Group") considered and approved the interim report for the Group for the period 1 January – 30 June 2025 ("H1 2025 report"), which can be summarized as follows: The headlines for the period can be summarized as follows The Company has launched a new strategy to drive growth and shareholder returns. On 1 April 2025, Christian Henrik Tange was appointed as the new CEO of Pharma Equity Group and Sebastian Bo Jakobsen was appointed as CEO of the subsidiary Reponex Pharmaceuticals A/S The company continues the dialogue with potential licensing partners. Clinical trial applications for RNX-011 (peritonitis) and the clinical trial application for RNX-051 (Colorectal Adenoma and Colon Cancer) have been submitted to the Danish authorities in H1 2025. The profit for the period of 1 January – 30 June 2025 amounts to DKK -9.5 million, which is in line with expectations..                                                                                             H1-2025 TDKK          H1-2024 TDKK Profit/Loss                                                                                -9.495                         -12.901 Receivable Portinho S.A.                                                          58.000                        58.000 Cash and cash equivalents                                                       702                             863 Total Assets                                                                               62.299                        63.169 Equity                                                                                        39.379                        12.432 Convertible Loans                                                                     15.234                        18.511 The result for H1-2025 was DKK -9.5 million (H1-2024: DKK -12.9 million). Equity as of 30 June 2025 is DKK 39.4 million (30. June 2024: DKK 12.4 million) Cash and cash equivalents as of 30 June 2025 are DKK 0.7 million (30 June 2024: DKK 0.9 million) Online presentation of the H1-2025 reportAt 11:00 a.m. today, 14 August 2025, CEO Christian Henrik Tange invites you to an online presentation of the H1 2025 report for the period 1 January 2025 – 30 June 2025 and significant events so far in 2025. Registration is free for everyone and can be done via link: https://www.linkedin.com/feed/update/urn:li:activity:7345408645636993027 Contact person – Investor RelationsAny questions regarding the H1 2025 report can be directed to the Company's CEO Christian Henrik Tange, by email investor@pharmaequitygroup.com. On the Company's website www.pharmaequitygroup.com further information and all published company announcements can be found. Hørsholm 14 August 2025Christian Vinding Thomsen, Chairman                                                 Christian Henrik Tange CEO About Pharma Equity Group A/S  Pharma Equity Group (PEG) is a dynamic life sciences investment and development firm listed on the Nasdaq Copenhagen stock exchange. PEG is dedicated to identifying, acquiring, and advancing innovations across pharmaceuticals (Pharma), medical technology (MedTech), and other medical devices, with a strategic focus on early-stage opportunities, particularly those emerging from Scandinavian research institutions. By leveraging strategic capital allocation, robust governance including a dedicated Investment Committee, and an extensive industry network, PEG aims to transform groundbreaking ideas into impactful healthcare solutions and products. The company is committed to building a balanced portfolio that delivers ongoing value creation and supports long-term growth for the benefit of patients, healthcare systems, and its investors. Attachments 2025 08 14 Announcement no 09 - UK H1 2025 financial report PharmaEquityGroup-H1 2025 report The post Consolidated Interim Report 1 January – 30 June 2025 appeared first on ForexTV.

Vancouver, BC, Aug. 14, 2025 (GLOBE NEWSWIRE) -- Trident Resources Corp. (TSX-V: ROCK) (OTCQB: TRDTF) (“Trident” or the “Company”) is pleased to announce detailed plans for its upcoming inaugural drill program at the Contact Lake Gold Project in Saskatchewan’s underexplored and prolific La Ronge Gold Belt. Trident enters this program with over CAD $11 million in cash and marketable securities, fully funding this drill program and positioning the Company to act swiftly on future exploration opportunities across its Saskatchewan portfolio. Contact Lake Project Location Map:https://www.tridentresourcescorp.com/projects/contact-lake-gold-project/#&gid=1&pid=1 "With drilling to be underway within the next week, we are excited to build on our proven track record of discovery and resource growth in the La Ronge Gold District. We believe our gold assets have the potential to become a tier 1 project in Canada and provide a strong foundation for value creation. We are also optimistic that our systematic exploration methodology will deliver success with additional new discoveries in our underexplored district scale land package,” said Jonathan Wiesblatt, CEO of Trident. The drill program at the Contact Lake mine site will comprise of 5,000 metres across 16 holes with the aim of confirming and extending gold mineralization along strike and down-dip from the historically defined gold mineral resources. The Contact Lake mine was operated by Cameco between December 1994 to May 1998 when 1,006,673 tonnes of ore were processed at a head grade of 6.16 grams per tonne (g/t) Au for a reported 188,185 ounces of gold (Au) recovered with life of mill recovery rate stated at 95%. Contact Lake hosts significant underground infrastructure and exploration potential in the areas immediately adjacent to the underground development. Cameco reported that substantial historically defined gold resources were left in the ground when mining activities were terminated at a time when the gold price was approximately $300/ounce.  Contact Lake Gold Project Plan View:https://www.tridentresourcescorp.com/_gallery/album-2/lg/ContactLakeGoldProject2.jpg The Contact Lake deposit is hosted within the northeast trending Bakos shear zone, which cuts through the granitic portion of the Little Deer Lake composite pluton. The auriferous Bakos shear zone has been drill-defined at between 15 to 40 metres in width over a strike length of greater than 2 km. The 2025 drilling will focus on extending gold mineralization between the underground development and the unmined resources of the BK3 zone, located immediately northeast of the former mine site. Drilling will also target down-dip extensions of the high-grade gold mineralization of the main zone as these types of shear-hosted gold deposits commonly extend at depth providing strong discovery potential below the currently defined dimensions of the Contact Lake deposit. Cyr Drilling from Winnipeg, Manitoba, has been chosen as the drill contractor and is mobilizing their personnel and drill equipment to Contact Lake. All drill cores will be logged, photographed and processed on site throughout the program. Data collection will include geologic, geotechnical and a full 48 element analytical suite in conjunction with a comprehensive QA / QC program with lab-certified standards, field blanks and duplicates comprising >10% of the sample stream. All 2025 data will be incorporated into the existing Contact Lake database and utilized in future exploration programs on the project.    Location Map of Planned Drill Holes:http://www.tridentresourcescorp.com/_resources/images/Drill-Plan-NR-202508.jpg The initial drill holes of the 2025 program will be focused on the discovery of shallow gold mineralization immediately northeast of the Contact Lake Main Zone (MZ1), which produced the majority of gold resources during mining operations. The second phase of drilling will target zones at moderate depth (200-250 metres below surface) that lie between the MZ1 zone and the BK3 zone. The BK3 zone is located 150 metres northeast of MZ1, below the western edge of Contact Lake and is reported to host substantial gold resources that were never mined. The final phase of the 2025 drill program will target the down-plunge extension of the gold mineralization in both the MZ1 and MZ2 zones.   Drilling will target the heart of the past-producing Contact Lake Mine, following up on historical high-grade intercepts including: Contact Lake Gold Deposit - Historical Drill Intercepts Hole ID From (m) To (m) Interval (m) Au (g/t) Description TU89-125 56.0 76.5 20.5 12.81 length weighted average TU89-127 39.5 57.8 18.3 10.41 length weighted average TU90-146 205.3 205.9 0.6 2,616.00 single assay TU92-316 138.3 138.8 0.5 94.06 single assay Notes:*Analytical data sourced from Cameco historical records*Historical sampling was discontinuous - data gaps were assigned a zero value*Intervals are drilled intercepts and do not reflect true thickness with true thickness unknown  Qualified Person: The scientific and technical data contained in this news release was approved by Cornell McDowell, P.Geo., a non-independent “qualified person” under the National Instrument 43-101 Standards of Disclosure of Mineral Projects. About Trident Resources Corp.: Trident Resources Corp. is a Canadian public mineral exploration company listed on the TSX Venture Exchange focused on the acquisition, exploration and development of advanced-stage gold and copper exploration projects in Saskatchewan, Canada. The Company is advancing its 100% owned Contact Lake and Greywacke Lake projects which host significant historical gold resources located within the prospective and underexplored La Ronge Gold Belt, as well as the 100% owned Knife Lake copper project which contains a historical copper resource. To find out more about Trident Resources Corp. (TSX-V: ROCK), visit the Company’s website at www.tridentresourcescorp.com Trident Resources Corp. Jonathan Wiesblatt, Chief Executive OfficerEmail: Jon.Wiesblatt@tridentresourcescorp.com For further information contact myself or:Andrew J. Ramcharan, PhD, P.Eng., Corporate Communications Trident Resources Corp.Telephone: 647-309-5130Toll Free: 800-567-8181Facsimile: 604-687-3119Email: info@tridentresourcescorp.com NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE. Forward-Looking Information and Statements This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements.  Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, regulatory approvals, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedarplus.ca for further information. The post Trident Resources To Commence 5,000m Diamond Drilling Program on Contact Lake High-Grade Gold Project, Saskatchewan appeared first on ForexTV.

Hungary's industrial output contracted by 4.9% in June 2025 compared to the same month a year earlier, aligning with initial estimates. This follows a 2.4% decrease recorded in May. Manufacturing experienced a notable decline of 5.3%, worsening from May’s 2.5% downturn, particularly impacting the production of textiles, apparel, leather, and related goods. Additionally, there was a marginal decrease in the output of electricity, gas, steam, and air-conditioning supply, which fell by 0.1%, a stark contrast to the previous month's 8.6% growth. Conversely, production in the mining and quarrying sector saw a positive turnaround, increasing by 5.2% after an 8.0% drop earlier. Seasonally adjusted figures indicate that overall industrial activity fell by 1.2% in June, following a 1.1% decrease in the prior month. The material has been provided by InstaForex Company - www.instaforex.com The post Hungary Industrial Output Contraction Confirmed at 4.9% appeared first on ForexTV.

Steel rebar futures fell below CNY 3,190 on Thursday, marking their lowest level in two weeks, due to elevated inventories and typically subdued demand during this season. Adverse weather conditions have compounded these factors, disrupting outdoor construction activities and consequently reducing metal consumption. Investors are also awaiting pivotal Chinese economic data to gain insight into potential steel production cutbacks. Reports suggest that authorities have instructed several mills to temporarily cease operations this month due to air pollution concerns, aligning with policy measures aimed at addressing overcapacity in construction materials to counteract deflationary pressures. Additionally, information from the China Iron and Steel Association revealed that crude steel output from a select sample of mills decreased by 7.4% in the last 10 days of July compared to the preceding period. The material has been provided by InstaForex Company - www.instaforex.com The post Steel Tumbles on High Supply, Weak Demand appeared first on ForexTV.

In July 2025, India experienced an unexpected drop of 0.58% in wholesale prices on a year-on-year basis, exceeding market predictions of a 0.30% decline and building on a preceding 0.13% decrease in June. This represents the second straight month of annual reductions in wholesale prices and marks the most significant decrease since July 2023. The decline was mainly influenced by a significant reduction in food prices, which fell by 2.15%—the largest drop since August 2015—compared to a 0.26% decline in June. Notably, there were substantial declines in the prices of onions (-44.38%), potatoes (-41.26%), and vegetables overall (-28.96%). In parallel, fuel prices also decreased by 2.43%, following a 2.65% drop in June, further intensifying the pressure on wholesale inflation. In contrast, inflation in the manufacturing sector saw a slight increase, reaching 2.05% in July, up from 1.97% in June, indicating faster cost rises in several subcategories. Significant accelerations were noticed in other non-metallic mineral products (2.69% versus 1.91% in June) and leather and related products (2.57% compared to 2.42%). The material has been provided by InstaForex Company - www.instaforex.com The post India Wholesale Prices Fall the Most in 2 Years appeared first on ForexTV.

Switzerland experienced a 0.9% decrease in producer and import prices in July 2025 compared to the same period in the previous year. This decline deepened from the 0.7% reduction recorded in June, marking the 27th consecutive period of decline and representing the most significant drop since December 2024. The decline was largely attributed to a continued decrease in import prices, which fell by 2.8%, consistent with the reduction in June. On the other hand, producer prices remained unchanged compared to a 0.3% rise previously reported. Month-to-month, there was a 0.2% reduction in these prices in July, building on a 0.1% decrease from the previous month. This overall decline was primarily due to reduced costs for watches, and medical and dental instruments and supplies. In contrast, the prices of petroleum, natural gas, and petroleum products increased. The material has been provided by InstaForex Company - www.instaforex.com The post Swiss Producer and Import Price Deflation Deepens appeared first on ForexTV.

In a testament to a period of measured economic stability, France's Consumer Price Index (CPI) has remained unchanged, holding steady at 1.0% on a year-over-year basis for July 2025. This consistency mirrors the CPI level recorded in the same period a year ago, signifying no fluctuation despite global economic unpredictability. The data, updated as of August 14, 2025, reinforces a trend of price stability in the French economy, suggesting that inflationary pressures have been effectively managed over the year. This indicator remains a focal point for investors and economists, as it provides insights into consumption trends and purchasing power within one of Europe's largest economies. France's sustained CPI comes amidst widespread volatility in many international markets, where inflation rates have seen significant spurts and declines. As a key figure in the European Union, France's stable inflation rate could signal resilience amidst broader regional challenges, offering a point of assurance to stakeholders and policymakers focusing on economic forecasting and strategic planning. The material has been provided by InstaForex Company - www.instaforex.com The post Stability Amid Uncertainty: French CPI Holds Steady at 1.0% Year-Over-Year for July appeared first on ForexTV.

 Växjö, Sweden, 14 August 2025 * * * JLT Mobile Computers, a leading supplier of rugged computers for demanding environments, publishes its interim report for the period January–June 2025 today. Summary of key figures Order intake MSEK 81.5 (55.0) Net sales MSEK 75.8 (69.6) Operating profit MSEK -0.4 (0.4) Profit after taxes MSEK -0.4 (0.2) Cash flow MSEK -5.5 (4.2) In short The year started strong, with several major deals made with US customers and a record-high order intake recorded in the first quarter. Gross margin and results were impacted by the falling USD. Large US deals invoiced during the first quarter, accounting for over 80 percent of the quarter’s invoicing, were negatively affected by the continued weakening of the US dollar. As invoicing were carried out at a significantly lower exchange rate than the rate at which components had been purchased, the gross margin was reduced during the period. Order intake for the second quarter amounted to MSEK 21.7 (20.9) and total for the first half of the year, the order intake reached MSEK 82, an increase of 48 percent compared to the previous year. To meet increased demand, production capacity was tripled during the second quarter. Customer expectations were met, and net sales increased by 24 percent compared to the same period the previous year. For the first half of the year, net sales amounted to MSEK 76, compared to MSEK 70 the previous year, which corresponds to an increase of 9.0 per cent. Operating profit decreased by MSEK 0.9 due to the lower gross margin in the second quarter. The result for the half-year was MSEK -0.4, compared to MSEK 0.4 the previous year. Continued investments in marketing and sales are being made to support market expansion. In May, the industry’s first vehicle-mounted computer featuring a 15” Full HD widescreen was launched, targeting the mining, forestry, and agriculture sectors. The launch is expected to strengthen the company’s position within these segments and reinforce its role as a technical pioneer. In a time of global uncertainty, JLT is well positioned to meet future challenges and opportunities, with leading products and increased production capacity. The full interim report is attached to this press release and available for download at the company’s website, jltmobile.com. Additional financial information is available online on JLT’s investor pages. This information is information that JLT Mobile Computers AB (pub) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out below, at 8:00 am CET on  August 14, 2025. Reader Enquiries JLT Mobile Computers Group Certified Adviser Per Holmberg, CEO Eminova Fondkommission AB Tel.: +46 70 361 3934 Tel.: +46 08 684 211 10 per.holmberg@jltmobile.comwww.jltmobile.com adviser@eminova.sewww.eminova.se About JLT Mobile Computers Reliable performance, less hassle. JLT Mobile Computers is a leading supplier of rugged mobile computing devices and solutions for demanding environments. Almost 30 years of development and manufacturing experience have enabled us to set the standard in rugged computing, combining outstanding product quality with expert service, support and solutions to ensure trouble-free business operations for customers in warehousing, transportation, manufacturing, mining, ports and agriculture. JLT operates globally from offices in Sweden, France, and the US, complemented by an extensive network of sales partners in local markets. The company was founded in 1994, and the share has been listed on the Nasdaq First North Growth Market stock exchange since 2002 under the symbol JLT. Eminova Fondkommission AB acts as Certified Adviser. Learn more at jltmobile.com. Attachment Interim report January-June, 2025 The post   JLT Mobile Computers AB (publ) publishes interim report for January–June 2025 appeared first on ForexTV.

VANCOUVER, British Columbia, Aug. 14, 2025 (GLOBE NEWSWIRE) -- Cornish Metals Inc. (TSX-V/AIM: CUSN) (“Cornish Metals” or the “Company”), a mineral exploration and development company focused on advancing its wholly owned and permitted South Crofty tin project in Cornwall, United Kingdom, is pleased to announce that it has released its unaudited financial statements and management, discussion and analysis (“MD&A”) for the six months ended June 30, 2025. The reports are available under the Company’s profile on SEDAR+ (www.sedarplus.ca) and on the Company’s website (www.cornishmetals.com). Highlights for the six months ended June 30, 2025 and for the period ending August 13, 2025 (All figures expressed in Canadian dollars unless otherwise stated) Strategic investment and fundraise (the “Fundraise”) (news releases dated January 28-31, 2025): The Fundraise totalling £57.4 million announced on January 28-31, 2025 was anchored by the National Wealth Fund Limited (“NWF”) and Vision Blue Resources Limited (“Vision Blue”), investing £28.6 million and £18.1 million, respectively, with a further £10.7 million from existing shareholders and new investors, including £1.4 million from a retail offer; The Fundraise is expected to provide financial runway through to the end of Q1 2026 and will enable the Company to further de-risk South Crofty and advance it towards a formal final investment decision; Grant funding investment (news release dated June 11, 2025): South Crofty's Bartles Foundry project received grant funding of up to £4.2 million from the Cornwall and Isles of Scilly Good Growth Programme, which is managed by Cornwall Council and funded by the UK Government through the UK Shared Prosperity Fund; The first claim in the amount of approximately £0.7 million was submitted to the Council in late July and is expected to be received by the end of August 2025. Key long-lead item orders (news release dated June 3, 2025): Orders have been placed with Qualter Hall & Company Limited ("Qualter Hall") for the design, manufacture, supply, installation and commissioning of the production and service winders to be used at South Crofty's New Cook's Kitchen ("NCK") shaft. Mine dewatering and NCK shaft refurbishment progress (news releases dated July 23 and August 12, 2025): Mine dewatering has resumed near full capacity following completion of staged maintenance of the submersible pumps that resulted in reduced pump availability and delays in the servicing one of the pump motors; Refurbishment of NCK shaft is progressing well with advance rates back in-line with the plan for mine dewatering; The mid-shaft pump station at approximately 360 metres below surface has been reached. Securing the work area and stabilising of the underground chamber of the pump station, enabling the installation of new permanent pumps, has commenced; Mine dewatering and NCK shaft refurbishment to the lower pump station level (approximately 730 metres below surface) are expected to be completed by mid-2026. Start of surface works at South Crofty (news release dated July 23, 2025): The first major phase of surface redevelopment at South Crofty started in early July with refurbishment of the Mine Dry building and demolition of the old Bartles Foundry buildings; Excavation and earthworks for the processing plant are expected to commence in August 2025. Senior management appointments (news release dated April 27, 2025): Strengthening of the project and operations teams at South Crofty with the appointments of Dave Howe as General Manager and Guillermo Alcazar as Project Director; Mr. Howe has 35 years of open pit and underground hard rock mining (including narrow vein) operational and exploration experience, of which 24 years were in executive and senior management roles; Mr. Alcazar is a project executive with over two decades of global experience leading and overseeing multimillion-dollar complex portfolios of mining, heavy industrial and infrastructure projects across diverse development stages. Sale of North American Assets: Mactung and Cantung royalties: the deferred consideration of US$1.5 million was received from Elemental Altus Royalties Corp. (“Elemental Altus”) on July 23, 2025; Nickel King: the Company received the final cash payment of $250,000 from Northera Resources Ltd. (“Northera”) on July 30, 2025; Sleitat: discussions are underway for the disposal of the Sleitat tin-silver exploration asset located in Alaska. Purchase of 4.5 acres of land from Cornwall Council (news release dated April 1, 2025): The purchased land is immediately adjacent to existing surface land owned by Cornish Metals and provides direct access to the main road at Dudnance Lane, where a new entrance to the mine site is planned and where new mine workshops and stores will be located. Publication of sustainability report and Digbee rating (news releases dated June 25 and August 11, 2025): The Company published its inaugural sustainability report for the 2024 reporting year marking a meaningful milestone; The report outlines the Company’s performance and progress across key sustainability pillars, including governance and ethics, social responsibility and environmental stewardship, establishing a baseline for future reporting; Cornish Metals was awarded an inaugural overall sustainability rating of “A” by Digbee. The re-domiciliation of the Company from Canada to the UK is well advanced and expected to be completed in Q4 2025. Don Turvey, CEO and Director of Cornish Metals, stated: “The Cornish Metals team continues to work hard on advancing and derisking South Crofty towards a restart of responsible tin production. The pace of activities across the South Crofty site on-surface and underground is ramping up steadily. Important milestones were achieved in the first half of 2025, namely the £57.4 million fundraise that was supported by existing and new shareholders including Vision Blue and the UK’s National Wealth Fund, the placing of orders for the production and service winders that are key long-lead items and the strengthening of our operations and projects leadership. The publication of the Company’s first sustainability report also marks an important step in formalising our approach to sustainability and strengthening transparency and provides a strong foundation for continued progress.” Review of activities Strategic investment and fundraise On January 28-31, 2025, the Company announced a Fundraise totaling £57.4 million that was anchored by NWF and Vision Blue, investing £28.6 million and £18.1 million, respectively. A further £10.7 million was raised from existing shareholders and new investors, including £1.4 million from a retail offer. The Fundraise is expected to provide financial runway through to the end of Q1 2026 and enables the Company to further de-risk the South Crofty tin project and advance it towards a formal final investment decision by: bringing the South Crofty tin project nearer to production by funding certain elements of the South Crofty tin project’s initial capital expenditure requirements; commencing early project works, including initial construction of the groundworks for the processing plant; placing orders for long-lead items of plant and equipment; and advancing detailed project engineering studies. Grant funding investment South Crofty's Bartles Foundry project received grant funding of up to £4.2 million from the Cornwall and Isles of Scilly Good Growth Programme, which is managed by Cornwall Council and funded by the UK Government through the UK Shared Prosperity Fund. The grant funding is equivalent to a maximum of 62% of the total Bartles Foundry project cost estimated at approximately £6.8 million for the construction of workshops and stores on the Bartles Foundry site. This will support the requirements associated with South Crofty moving to production and includes the cost for the purchase of 4.5 acres of land from Cornwall Council mentioned further below (refer news release dated June 11, 2025). The first claim in the amount of approximately £0.7 million was submitted to the Council in late July and is expected to be received by the end of August 2025. Key long-lead item orders Orders have been placed with Qualter Hall for the design, manufacture, supply, installation and commissioning of the production and service winders to be used at South Crofty's NCK shaft. The two winders are long-lead items and constitute an important use of proceeds from the fundraise completed in March 2025. Mine dewatering and refurbishment of New Cook’s Kitchen Shaft Mine dewatering has resumed near full capacity following completion of staged maintenance of the submersible pumps that resulted in reduced pump availability and delays in the servicing one of the pump motors. Refurbishment of NCK shaft is progressing well with advance rates back in-line with the plan for mine dewatering. The mid-shaft pump station at approximately 360 metres below surface has been reached. Securing the work area and stabilising of the underground chamber of the pump station, enabling the installation of new permanent pumps, has commenced. Shaft refurbishment and mine dewatering will continue in parallel with this work, down to the current level of the submersible pumps at approximately 380 metres below surface. Work on the pump station is expected to be completed during Q4 2025. The submersible pumps will then be lowered to the lower pump station level (approximately 730 metres below surface) and mine dewatering and shaft refurbishment will resume at that point. Mine dewatering and NCK shaft refurbishment to the lower pump station level are expected to be completed by mid-2026. Start of surface works at South Crofty The first major phase of surface redevelopment at South Crofty started in early July with refurbishment of the Mine Dry building and demolition of the old Bartles Foundry buildings. Excavation and earthworks for the processing plant are expected to commence in August 2025. Senior management appointments On April 27, 2025, the Company announced the appointments of Dave Howe as General Manager and Guillermo Alcazar as Project Director, strengthening the project and operations teams at South Crofty as the project transitions to construction and development. Mr. Howe has 35 years of open pit and underground hard rock mining (including narrow vein) operational and exploration experience, of which 24 years were in executive and senior management roles. He has experience in rehabilitation of old previously operating wet mines, including drilling, dewatering and developing them back into successful operation, and has also managed different narrow vein mines. Mr. Alcazar is a project executive with over two decades of global experience leading and overseeing multimillion-dollar complex portfolios of mining, heavy industrial and infrastructure projects across diverse development stages. The Company also announced that Owen Mihalop, Chief Operating Officer, left the Company with effect from April 25, 2025 in order to pursue new opportunities. Land purchase from Cornwall Council On April 1, 2025, the Company announced the purchase of a 4.5-acre land parcel from Cornwall Council that is immediately adjacent to South Crofty surface infrastructure. The land purchase provides direct access to the main road at Dudnance Lane where a new entrance to the mine site is planned and where new mine workshops and stores will be located. This acquisition increased the total land area at South Crofty owned by the Company to approximately 32.5 acres. Sale of North American assets Mactung and Cantung royalties: the deferred consideration of US$1.5 million was received from Elemental Altus on July 23, 2025. Nickel King property: on July 30, 2025, the Company received the final cash payment of $250,000 from Northera, resulting in the agreed aggregate cash consideration of $500,000 being received in full. The Company will transfer the Nickel King property to Northera upon finalisation of a definitive sales agreement. Upon completion of a go-public transaction by Northera, resulting in a listing of securities on the TSX Venture Exchange, or other stock exchange, Northera will issue to Cornish Metals common shares in the capital of Northera having an aggregate market value equal to $5 million. Sleitat: the Company is in discussions to dispose of the Sleitat tin-silver exploration asset located in Alaska, USA. Publication of sustainability report and Digbee rating The Company published its inaugural sustainability report for the 2024 reporting year marking a meaningful milestone. The report, published in accordance with the Global Reporting Initiative ("GRI") Standards, outlines the Company’s performance and progress across key sustainability pillars, including governance and ethics, social responsibility and environmental stewardship, establishing a baseline for future reporting. Cornish Metals was awarded an inaugural overall sustainability rating of “A” by an independent panel of globally recognised sustainability experts from Digbee. This initial submission provides insights to enhance risk mitigation strategies, ensuring well-informed decision-making as the Company advances towards the responsible operation of South Crofty. Financial highlights for the six months ended June 30, 2025 and June 30, 2024   Six months ended   June 30, 2025 June 30, 2024 (Expressed in Canadian dollars)     Total operating expenses 7,618,614   4,561,792   Loss for the period 6,331,711   4,126,256   Net cash used in operating activities (6,275,976 ) (2,281,351 ) Net cash used in investing activities (17,906,530 ) (17,830,778 ) Net cash provided by (used in) financing activities 87,513,355   (96,159 ) Cash at end of the period 73,777,481   6,048,987   Operating expenses have risen reflecting increased professional fees associated with the planned re-domiciliation of the Company from Canada to the UK and costs relating to more corporate activity as the South Crofty tin project is advanced; Project related expenditure of $11.3 million for the advancement of South Crofty, primarily relating to NCK shaft re-access & refurbishment, preparation for the refurbishment of the mid-shaft pump station, ongoing project engineering studies and preliminary work for the construction of workshops & stores; Dewatering costs of $3.1 million for power, reagents, sludge disposal and maintenance of the water treatment plant (“WTP”); Receipt of $87.5 million in net proceeds from the Fundraise after repayment of the debt facility with Vision Blue which was settled through a set-off with the Fundraise; and Cash increased by $63.3 million to $73.8 million at the period end due to the proceeds received from the Fundraise offset by ongoing development activities at the South Crofty tin project. Outlook As described above, the Company continues to advance and de-risk the South Crofty tin project towards production. The Company’s near-term objectives are as follows: Complete dewatering of South Crofty mine and refurbishment of NCK shaft; Advance detailed engineering and Front End Engineering Design ("FEED"); Place deposits for long lead items of plant and equipment; Commence and advance early project works, including initial construction of the groundworks for the processing plant; and Arrange project financing for the South Crofty tin project. ABOUT CORNISH METALS Cornish Metals is a dual-listed mineral exploration and development company (AIM and TSX-V: CUSN) that is advancing the South Crofty tin project towards production. South Crofty: is a historical, high-grade, underground tin mine located in Cornwall, United Kingdom and benefits from existing mine infrastructure including multiple shafts that can be used for future operations; is permitted to commence underground mining (valid to 2071), construct a new processing facility and for all necessary site infrastructure; would be the only primary producer of tin in Europe or North America. Tin is a Critical Mineral as defined by the UK, American, and Canadian governments as it is used in almost all electronic devices and electrical infrastructure. Approximately two-thirds of the tin mined today comes from China, Myanmar and Indonesia; benefits from strong local community, regional and national government support with a growing team of skilled people, local to Cornwall, and could generate over 300 direct jobs. ON BEHALF OF THE BOARD OF DIRECTORS “Don Turvey”Don TurveyCEO and Director Engage with us directly at our investor hub. Sign up at: https://investors.cornishmetals.com/link/yVw05e For additional information please contact: Cornish Metals Fawzi HananoIrene Dorsman investors@cornishmetals.com info@cornishmetals.com     Tel: +1 (604) 200 6664 SP Angel Corporate Finance LLP (Nominated Adviser & Joint Broker)         Richard Morrison Charlie Bouverat Grant Barker Tel: +44 203 470 0470       Hannam & Partners(Joint Broker)         Matthew HassonAndrew Chubb Jay Ashfield cornish@hannam.partners Tel: +44 207 907 8500       BlytheRay(Financial PR) Tim Blythe Megan Ray cornishmetals@blytheray.com Tel: +44 207 138 3204             The Bartles Foundry project is part-funded by the UK Government through the UK Shared Prosperity Fund. Cornwall Council is responsible for managing projects funded by the UK Shared Prosperity Fund through the Cornwall and Isles of Scilly Good Growth Programme. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Caution regarding forward looking statements This news release may contain certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”). Forward-looking statements include predictions, projections, outlook, guidance, estimates and forecasts and other statements regarding future plans, the realisation, cost, timing and extent of mineral resource or mineral reserve estimates, estimation of commodity prices, currency exchange rate fluctuations, estimated future exploration expenditures, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, requirements for additional capital and the Company’s ability to obtain financing when required and on terms acceptable to the Company, future or estimated mine life and other activities or achievements of Cornish Metals. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “forecast”, “expect”, “potential”, “project”, “target”, “schedule”, “budget” and “intend” and statements that an event or result “may”, “will”, “should”, “could”, “would” or “might” occur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this news release, are forward-looking statements that involve various risks and uncertainties and there can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to receipt of regulatory approvals, risks related to general economic and market conditions; risks related to the availability of financing; the timing and content of upcoming work programmes; actual results of proposed exploration activities; possible variations in Mineral Resources or grade; projected dates to commence mining operations; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; changes in national and local government regulation of mining operations, tax rules and regulations. The list is not exhaustive of the factors that may affect Cornish’s forward-looking statements. Cornish Metals’ forward-looking statements are based on the opinions and estimates of management and reflect their current expectations regarding future events and operating performance and speak only as of the date such statements are made. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward- looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward-looking statements. Cornish Metals does not assume any obligation to update forward-looking statements if circumstances or management’s beliefs, expectations or opinions should change other than as required by applicable law. Market Abuse Regulation (MAR) Disclosure The information contained within this announcement is deemed by the Company to constitute inside information pursuant to Article 7 of EU Regulation 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 as amended. CONSOLIDATED CONDENSED INTERIM STATEMENTS OF FINANCIAL POSITION(Unaudited)(Expressed in Canadian dollars)   June 30, 2025 December 31, 2024       ASSETS     Current     Cash $ 73,777,481     $ 9,589,029   Marketable securities   3,108,832       2,874,696   Receivables   3,650,460       2,697,326   Prepaid expenses   1,219,926       504,902   Deferred financing fees   -       637,718       81,756,699       16,303,671         Deposits   113,352       64,341   Property, plant and equipment   29,344,240       27,132,244   Exploration and evaluation assets   100,771,833       79,961,014           $ 211,986,124     $ 123,461,270               LIABILITIES           Current     Accounts payable and accrued liabilities $ 6,507,324     $ 4,045,083   Deferred income   -       150,000   Loan liability   -       13,457,169       6,507,324       17,652,252   NSR liability   9,340,224       9,869,289       15,847,548       27,521,541   SHAREHOLDERS’ EQUITY     Capital stock   229,373,265       128,394,652   Capital contribution   2,007,665       2,007,665   Share-based payment reserve   1,692,422       1,353,933   Foreign currency translation reserve   12,854,213       7,640,757   Deficit   (49,788,989 )     (43,457,278 )           196,138,576       95,939,729           $ 211,986,124     $ 123,461,270   CONSOLIDATED CONDENSED INTERIM STATEMENTS OF LOSS AND COMPREHENSIVE LOSS(Unaudited)(Expressed in Canadian dollars)   Three months ended Six months ended   June 30, 2025 June 30, 2024 June 30, 2025 June 30, 2024           EXPENSES         Travel and marketing $ 231,911     $ 233,349     $ 437,578     $ 447,487   Insurance   184,241       196,444       364,161       399,507   Office, miscellaneous and rent   140,829       61,702       232,055       118,207   Professional fees   2,219,506       533,674       2,760,849       808,767   Generative exploration expense   2,278       4,513       2,278       5,704   Regulatory and filing fees   22,079       22,396       52,477       51,661   Share-based compensation   (11,011 )     7,000       151,606       130,799   Salaries, directors’ fees and benefits   1,639,058       743,516       3,617,610       2,599,660             Total operating expenses   (4,428,891 )     (1,802,594 )     (7,618,614 )     (4,561,792 )           Interest income   856,492       142,888       990,074       408,554   Interest expense   -       -       (486,337 )     -   Foreign exchange gain (loss)   275,131       (9,140 )     653,023       (28,040 ) Gain on receipt of non-refundable deposit   -       91,296       150,000       91,296   Unrealized gain (loss) on marketable securities   9,163       12,963       (19,857 )     (36,274 )           Loss for the period   (3,288,105 )     (1,564,587 )     (6,331,711 )     (4,126,256 )           Foreign currency translation   1,325,644       977,535       5,213,456       2,391,472                                     Total comprehensive loss for the period $ (1,962,461 )   $   (587,052 )   $ (1,118,255 )   $ (1,734,784 )           Basic and diluted loss per share $ (0.00 )   $ (0.00 )   $ (0.00 )   $ (0.00 )           Weighted average number of common shares outstanding:   1,252,414,079       535,270,712       960,789,988       535,270,712   CONSOLIDATED CONDENSED INTERIM STATEMENTS OF CASH FLOWS (Unaudited)(Expressed in Canadian dollars)   For the six months ended   June 30, 2025 June 30, 2024       CASH FLOWS FROM OPERATING ACTIVITIES     Loss for the period $ (6,331,711 )   $ (4,126,256 ) Items not involving cash:     Share-based compensation   151,606       130,799   Interest expense   486,337       -   Foreign exchange (gain) loss   (653,023 )     28,040   Gain on receipt of non-refundable deposit   (150,000 )     (91,296 ) Unrealized loss on marketable securities   19,857       36,274         Changes in non-cash working capital items:     (Increase) decrease in receivables   (949,755 )     264,739   (Increase) decrease in prepaid expenses   (224,802 )     64,364   Increase in accounts payable and accrued liabilities   1,375,515       1,411,985         Net cash used in operating activities   (6,275,976 )     (2,281,351 )       CASH FLOWS FROM INVESTING ACTIVITIES     Acquisition of property, plant and equipment   (2,811,621 )     (5,968,493 ) Acquisition of exploration and evaluation assets   (15,049,324 )     (11,968,598 ) Proceeds from receipt of non-refundable deposit   -       91,296   (Increase) decrease in deposits   (45,585 )     15,017                   Net cash used in investing activities   (17,906,530 )     (17,830,778 )       CASH FLOWS FROM FINANCING ACTIVITIES     Proceeds from the Fundraise   91,566,076       -   Share issue costs   (4,052,721 )     -   Increase in deferred financing fees   -       (96,159 )       Net cash provided by (used in) financing activities   87,513,355       (96,159 )       Change in cash during the period   63,330,849       (20,208,288 ) Cash, beginning of the period   9,589,029       25,791,552   Impact of foreign exchange on cash   857,603       465,723         Cash, end of the period $ 73,777,481     $ 6,048,987         Cash paid during the period for interest $ -     $ -         Cash paid during the period for income taxes $ -     $ -   CONSOLIDATED CONDENSED INTERIM STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY        (Unaudited)(Expressed in Canadian dollars)         Foreign       Capital stock   Share-based currency       Number of   Capital payment translation   Shareholders’   shares Amount contribution reserve reserve Deficit equity – total Balance at December 31, 2023 535,270,712   $ 128,394,652     $ 2,007,665   $ 711,690   $ 1,369,146   $ (42,391,158 )   $ 90,091,995   Foreign currency translation -     -       -     -     2,391,472     -       2,391,472   Share-based compensation -     -       -     217,336     -     -       217,336   Loss for the period -     -       -     -     -     (4,126,256 )     (4,126,256 ) Balance at June 30, 2024 535,270,712   $ 128,394,652     $ 2,007,665   $ 929,026   $ 3,760,618   $ (46,517,414 )   $ 88,574,547                   Balance at December 31, 2024 535,270,712   $ 128,394,652     $ 2,007,665   $ 1,353,933   $ 7,640,757   $ (43,457,278 )   $ 95,939,729   Share issuance pursuant to Fundraise 717,143,367     105,361,387       -     -     -     -       105,361,387   Share issue costs       (4,382,774 )     -     -     -     -       (4,382,774 ) Foreign currency translation -     -       -     -     5,213,456     -       5,213,456   Share-based compensation -     -       -     338,489     -     -       338,489   Loss for the period -     -       -     -     -     (6,331,711 )     (6,331,711 ) Balance at June 30, 2025 1,252,414,079   $ 229,373,265     $ 2,007,665   $ 1,692,422   $ 12,854,213   $ (49,788,989 )   $ 196,138,576   The post Cornish Metals Releases Unaudited Financial Statements and Management’s Discussion and Analysis for the Six Months Ended 30 June 2025 appeared first on ForexTV.

Boskalis Rockpiper DolWin epsilon Boskalis Rockpiper DolWin epsilon Papendrecht, 14 August 2025 KEY FIGURES FIRST HALF YEAR 2025 Revenue: EUR 2.35 billion (H1 2024: EUR 2.07 billion) EBITDA: EUR 748 million (H1 2024: EUR 553 million) Net profit: EUR 426 million (H1 2024: EUR 298 million) Order book: EUR 6.2 billion (End of 2024: EUR 7.0 billion) ‎Royal Boskalis B.V. (Boskalis) has concluded a remarkably strong first half of the year. All three divisions reported substantial increases in their results, leading to an exceptional first half performance. Revenue increased by 14% compared to last year, reaching EUR 2.35 billion (H1 2024: EUR 2.07 billion). Adjusted for (de)consolidations and currency effects, revenue was 5% higher. In Dredging, the main contribution came from large projects in the Far and Middle East. In Offshore Energy, the vessel utilization of the transport fleet which includes the heavy transport vessels, was high, and various offshore wind projects contributed to the strong half-year. Towage & Salvage also contributed to growth. Following the acquisition of the remaining stake in Smit Lamnalco, these towage activities are fully consolidated. Additionally, Salvage had a busy first half-year, with assignments in, amongst others, the Middle East, Vietnam, and the North Sea. EBITDA increased by 35% to EUR 748 million (H1 2024: EUR 553 million). Adjusted for exceptional income in 2024, EBITDA rose by 40%. Net profit increased by 43% to EUR 426 million (H1 2024: EUR 298 million). Adjusted for exceptional income in 2024, net profit increased by 52%. Theo Baartmans, CEO Boskalis: "In the past six months, we have performed exceptionally well across the board. Thanks to high vessel occupancy and strong project results in all three divisions, we have achieved an exceptionally good first-half result. Given the current turbulent geopolitical landscape and strong results from recent years, this is an extraordinary achievement. The exceptional figures we present today are only possible thanks to the dedication of our over 11,000 colleagues worldwide. Their contribution is the key to our success. Investing in attracting and retaining talent is therefore a high priority within Boskalis. In Dredging, we successfully completed several sizable multi-year projects in Singapore, Taiwan, and the Middle East. We recently also secured a large multi-year project in Taiwan, which will occupy a number of large dredging vessels for the next two years. The Dutch Inland Infra activities had a strong half-year due to ongoing projects, the successful initiation of several two-phase contracts, and securing remarkable new projects such as the IJsselmeer dike reinforcement, which is part of the important national Flood Protection Program. In Offshore Energy, despite turbulent market conditions, all business units contributed strongly. Our transport fleet was well occupied, and our strategic positioning, focused on offering services to both offshore wind and oil and gas clients, is yielding positive results. In early July, together with our shareholder HAL, we announced our intention to acquire the Dutch Infra activities of VolkerWessels. This proposed transaction seamlessly fits our strategy to substantially strengthen our position in the Dutch home market. Thanks to the complementary activity portfolios of Boskalis Nederland and VolkerWessels Infra, we can broaden and strengthen our capabilities. However, a customary due diligence will first take place, and competition authorities must grant approval. Despite these positive financial results, Boskalis is not immune to geopolitical tensions, macroeconomic unrest, and the weaker US dollar. These developments impact the investment willingness of governments and private clients. Nevertheless, with the projects in our portfolio, we remain moderately positive about the remainder of 2025." DEVELOPMENTS DIVISIONSIn the Dredging & Inland Infra division, revenue was nearly stable, while EBITDA was higher than in the same period last year. The utilization of the hopper fleet was comparable to last year, and the cutter suction dredgers continued to have good occupancy, albeit slightly lower than last year when they were fully occupied. Outside the Netherlands, Boskalis was active on large dredging projects in the Philippines, Taiwan, Singapore, Australia, Saudi Arabia, the United Arab Emirates, and Oman. Several of these multi-year projects were also completed in the past half-year. In the Netherlands, Boskalis worked on numerous projects, such as the multi-year projects Markermeerdijken north of Amsterdam, Meanderende Maas in North Brabant, and the Zuidasdok OVT project in Amsterdam. Boskalis successfully completed its work for the offshore carbon capture and storage project Porthos in the first half of the year. Finally, Boskalis was busy in Belgium with the development of the Europa Terminal and the Antwerp ring road. In the Offshore Energy division, revenue increased in the first half-year, with a significantly higher EBITDA. Within the Services cluster, the heavy marine transport (HMT) fleet occupancy was exceptionally high, and Marine Services also contributed well to the higher result. Notable transports were carried out with the recently widened BOKA Vanguard, which transported two large dry docks from China to Turkey and from Turkey to the west coast of the United States. The rest of the HMT and Marine Services fleet was occupied with transports for both offshore wind projects and oil and gas clients in Asia, South America, West Africa, and the United States. In Subsea Services and Survey, results were at a comparable level to last year, with work concentrated around the North Sea and the Middle East. In Contracting (Offshore Heavy Lifting and Subsea Cables), there was also a strong first half-year. A large offshore wind project off the East Coast of the United States is nearly completed, and Subsea Cables was primarily active in Europe, in addition to the installation of two export cables in Taiwan. Overall, the Offshore Energy division successfully capitalized on both the offshore wind market and the traditional oil and gas market, with strong project execution across the board. Towage & Salvage: The size of Boskalis’ Towage activities has increased due to the acquisition of the remaining stake in Smit Lamnalco in late 2024. Since then, these activities have been fully consolidated. These activities are characterized by long-term contracts for clients primarily in the Middle East, West Africa, and Australia. At the end of June, Boskalis signed an agreement for the sale of the Smit Lamnalco activities in Australia and Papua New Guinea, subject to approval by authorities and regulators. Salvage had a good and busy first half-year with two Lloyds Open Form contracts. In the Middle East, Salvage was called upon to extinguish a fire on a containership, while in Vietnam, a salvage team assisted a cargo ship following a collision. Furthermore, Salvage was involved in the emergency response of the collided Stena Immaculate in the North Sea and was active in a wide variety of smaller projects worldwide. Order book: The order book declined from EUR 7 billion at the end of 2024 to EUR 6.2 billion as of 30 June 2025. Approximately a quarter of the decrease is explained by currency effects. At the start of the second half-year, Boskalis secured two large contracts with a total value of approximately EUR 0.9 billion. In Taiwan, Boskalis will perform dredging work in a consortium for the installation of a 232-kilometer-long gas pipeline (YT2). Furthermore, Smit Lamnalco secured a large multi-year terminal contract in Guyana for which investments will also be made in four new, state-of-the-art vessels. FINANCIAL POSITION Boskalis' financial position is very robust. The net financial position further increased to EUR 565 million, partly due to the strong operational result. The solid solvency ratio stands at 52.8%, and Boskalis comfortably meets its financial covenants. Despite prevailing macroeconomic and geopolitical uncertainties, the projects in the portfolio provide a solid foundation for 2025 and 2026. KEY FIGURES 1st HY 2025 1st HY 2024 2024 (in EUR million)       Revenue 2,345 2,065 4,362 EBITDA 748 553 1,303 Operating result 521 363 782 Exceptional income (expense) - 19 144 EBIT 521 382 926 Net profit 426 298 781           30 June 2025 30 June 2024 End 2024         Net financial position incl lease liabilities: cash (debt) 565 560 518 Solvency 52.8% 54.8% 56.3% Order book 6,181 5,260 6,992 Definitions: Operating result is EBIT adjusted for exceptional items. EBIT(DA) and operating result include our share in the net result of joint ventures and associates. FOR FURTHER INFORMATIONMartijn L.D. Schuttevâer press@boskalis.comT +31 786969310 This is an English translation of the Dutch press release. In the event of any disparity between the Dutch original and this translation, the Dutch text will prevail. Boskalis is a leading global services provider operating in the dredging, maritime infrastructure and maritime services sectors. The company provides creative and innovative all-round solutions to infrastructural challenges in the maritime, coastal and delta regions of the world. With core activities such as coastal defense, riverbank protection and land reclamation Boskalis is able to provide adaptive and mitigating solutions to combat the effects of climate change, such as extreme weather conditions and rising sea levels, as well as delivering solutions for the increasing need for space in coastal and delta regions across the world. The company facilitates the development of offshore energy infrastructure, including renewable wind energy. Boskalis is furthermore active in the construction and maintenance of ports, waterways, access channels and civil infrastructure, thus helping to facilitate trade flows and regional socio-economic development. In addition, Boskalis is a global marine salvage expert and provides terminal services at various locations worldwide. With a versatile fleet of approximately 500 vessels and floating equipment and over 11,000 employees, Boskalis is creating new horizons around the world. This press release can also be found on our website www.boskalis.com. Attachments Boskalis H1 2025 press release 14082025 Boskalis Rockpiper DolWin epsilon The post Half-Year Results 2025: Boskalis posts strong performance appeared first on ForexTV.

Q1 Fiscal 2026 Highlights Record royalties of $4.0 million Record adjusted EBITDA1 of $3.3 million Total revenues of $13.0 million Net profit of $2.0 million after a $0.9 million restructuring charge MONTREAL, Aug. 13, 2025 (GLOBE NEWSWIRE) -- D-BOX Technologies Inc. (“D-BOX” or the "Company") (TSX: DBO) today reported financial results for its first quarter ended June 30, 2025. “In Q1 2026, D-BOX delivered robust financial performance with record royalty growth and strong profitability,” said Naveen Prasad, interim CEO of D-BOX. “Following record revenues and net income performance for the full fiscal year 2025, the Company continues to demonstrate the strength of our royalty-focused model, expanded theatrical footprint and disciplined expense control.” Q1 2026 Operating Results In Q1 2026, total revenues were $13.0 million, up 49% year-over-year, driven primarily by the accelerated fulfillment of theatrical system sales in Q1 as well as record royalties performance of $4.0 million, partially offset by deceleration of sim racing customers in the first quarter. Royalty revenues increased 64% year-over-year, achieving both historical quarterly records for D-BOX in terms of the number of tickets sold, as well as dollar value ($4.0 million). The record royalties performance was due to a 12% year-over-year increase in active D-BOX screens to 1,047, as well as ongoing strength in the gross box office driven by blockbusters in the first quarter including A Minecraft Movie, How to Train Your Dragon, Mission: Impossible - The Final Reckoning and F1: The Movie. Royalties accounted for an increased 31% share of the Company’s revenue mix. Simulation and training and sim racing customer groups were relatively flat and down 11%, year-over-year, respectively, in the first quarter. Adjusted EBITDA1 for the quarter totaled a record $3.3 million, representing a 26% Adjusted EBITDA margin1, up 23% year-over-year and demonstrating continued focus on cost control and operational efficiency. Net profit was $2.0 million and operating cash flow was $2.8 million, which would have been records of $2.9 million and $3.6 million, respectively, prior to a restructuring charge related to the CEO transition announced on June 4, 2025. Given the inherent variability and seasonality of quarterly sales, we emphasize the importance of assessing the Company’s performance on a trailing twelve-month basis. (Amounts are in thousands of Canadian dollars) Q1 2026 Q1 2025 Var.($)   Var. (%)   Revenues from         System sales         Theatrical 4,081 560 3,521   629  % Simulation and training 2,179 2,094 85   4  % Sim racing 2,301 2,590 (289 ) (11 )% Other 483 1,082 (599 ) (55 )% Total system sales 9,044 6,326 2,718   43  % Rights for use, rental and maintenance ("royalties") 3,994 2,436 1,558   64  % Total Revenues 13,038 8,762 4,276   49  % Balance Sheet and Liquidity D-BOX closed the first quarter of fiscal 2026 in a position of financial strength, with $2.8 million in operating cash flow, low-cost total debt of $1.4 million, and available liquidity including the undrawn portion of the line of credit of $18.5 million. SUPPLEMENTAL FINANCIAL DATA - UNAUDITED (Amounts are in thousands of Canadian dollars) Q1 2026   Q1 2025   Var. (%)   Total Revenues 13,038   8,762   49  % Gross profit 7,316   4,551   61  % Operating expenses2 5,339   4,824   11  % Operating income2 1,977   (273 ) n.m.   Adjusted EBITDA1, 2 3,328   264   1161  % Financial expenses 25   136   (82 )% Net profit (loss)2 1,952   (419 ) n.m.   Basic and diluted EPS 0.009   (0.002 ) n.m.   Gross margin1 56  % 52  % 4    p.p.   Operating expenses as % of total revenues1, 2 41  % 55  % (14)   p.p.   Operating margin1, 2 15  % (3 )% 18    p.p.   Adjusted EBITDA margin1, 2 26  % 3  % 23    p.p.   Cash flows provided by operating activities3 2,766   (1,461 ) n.m.           As at (in thousands of Canadian dollars)   June 30, 2025   March 31, 2025   Total debt1   1,389   1,221   Cash and cash equivalents   10,450   7,812   Net cash (net debt) 1   9,061   6,591   Adjusted EBITDA (LTM) 1, 2   10,376   7,311   1)   Please refer to "non-IFRS and other financial performance measures" in this press release2)   Included in Q1 FY2026 is a restructuring charge provision of $850 related to June 4, 2025 change in CEO3)   Included in Q1 FY2026 is a restructuring charge payment of $750 related to June 4, 2025 change in CEO n.m.= not meaningful This release should be read in conjunction with the Company’s unaudited interim condensed consolidated financial statements and the Management’s Discussion and Analysis dated August 13, 2025. These documents are available at www.sedarplus.ca. All dollar amounts are expressed in Canadian currency(1) Please refer to "non-IFRS and other financial performance measures" in this press release NON-IFRS AND OTHER FINANCIAL PERFORMANCE MEASURES D-BOX uses the following non-IFRS financial performance measures in its MD&A and other communications. The non-IFRS measures do not have any standardized meaning prescribed by IFRS and are unlikely to be comparable to similarly titled measures reported by other companies. Investors are cautioned that the disclosure of these metrics is meant to add to, and not to replace, the discussion of financial results determined in accordance with IFRS. Management uses both IFRS and non-IFRS measures when planning, monitoring and evaluating the Company’s performance. The non-IFRS performance measures are described as follows: Adjusted EBITDA EBITDA represents earnings before interest and financing, income taxes and depreciation and amortization. Adjustments to EBITDA are for items that are not necessarily reflective of the Company’s underlying operating performance. As there is no generally accepted method of calculating EBITDA, this measure is not necessarily comparable to similarly titled measures reported by other issuers. Adjusted EBITDA provides useful and complementary information, which can be used, in particular, to assess profitability and cash flow from operations. Adjusted EBITDA margin is defined as Adjusted EBITDA divided by total revenues. A reconciliation of net profit to Adjusted EBITDA margin is presented below:   Three month periods   2025   2024   Net profit (loss) 1,952   (419 ) Amortization of property and equipment 318   259   Amortization of intangible assets 144   142   Financial expenses 25   136   Income taxes —   10   Share-based payments 52   64   Foreign exchange (gain) loss (13 ) 72   Restructuring costs 850   —   Adjusted EBITDA 3,328   264   Total Debt, Net Debt and Total Debt to Adjusted EBITDA Total debt is defined as the total bank indebtedness, long-term debt (including any current portion), and net debt is calculated as total debt net of cash and cash equivalents. The Company considers total debt and net debt to be important indicators for management and investors to assess the financial position and liquidity of the Company and measure its financial leverage. These measures do not have any standardized meanings prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. Total debt to Adjusted EBITDA ratio is calculated as total net debt divided by the last four quarters Adjusted EBITDA. We believe that total debt to Adjusted EBITDA is a useful metric to assess the Company’s ability to manage debt and liquidity. Supplementary Financial MeasuresGross margin is defined as gross profit divided by total revenues. Operating expenses as a percentage of sales are defined as operating expenses divided by total revenues. Operating margin is defined as operating income divided by net sales. ABOUT D-BOX D-BOX Technologies Inc. (TSX: DBO) is a global leader in haptic technology, delivering immersive motion experiences that engage the body and spark the imagination. Our patented systems synchronize motion, vibration, and texture with on-screen content, enhancing storytelling across various platforms. With over 25 years of innovation, D-BOX's solutions are utilized in movie theaters, sim racing, and simulation & training. Headquartered in Montreal, Canada, with offices in Los Angeles, USA, D-BOX continues to redefine how audiences experience media worldwide. Visit https://www.d-box.com/. FOR FURTHER INFORMATION, PLEASE CONTACT: David ReidChief Financial OfficerD-BOX Technologies Inc.dreid@d-box.com D-BOX Media Relationsmedia@d-box.com  DISCLAIMER REGARDING FORWARD-LOOKING STATEMENTS Certain information included in this press release may constitute “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information may include, among others, statements regarding the future plans, activities, objectives, operations, strategy, business outlook, and financial performance and condition of the Corporation, or the assumptions underlying any of the foregoing. In this document, words such as “may”, “would”, “could”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate” and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Forward-looking information, by its very nature, is subject to numerous risks and uncertainties and is based on several assumptions which give rise to the possibility that actual results could differ materially from the Corporation’s expectations expressed in or implied by such forward-looking information and no assurance can be given that any events anticipated by the forward-looking information will transpire or occur, including but not limited to the future plans, activities, objectives, operations, strategy, business outlook and financial performance and condition of the Corporation. Forward-looking information is provided in this press release for the purpose of giving information about Management’s current expectations and plans and allowing investors and others to get a better understanding of the Corporation’s operating environment. However, readers are cautioned that it may not be appropriate to use such forward-looking information for any other purpose. Forward-looking information provided in this document is based on information available at the date hereof and/or management’s good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Corporation’s control. The risks, uncertainties and assumptions that could cause actual results to differ materially from the Corporation’s expectations expressed in or implied by the forward-looking information include, but are not limited to, the sustainability of net profit driven by continued strength in royalty revenues, the ongoing positive impact of past cost control measures on future profitability, and the sustained strength and value creation driven by its overall business model and operational discipline. These and other risk factors that could cause actual results to differ materially from expectations expressed in or implied by the forward-looking information are discussed under “Risk Factors” in the Corporation’s annual information form for the fiscal year ended March 31, 2025, a copy of which is available on SEDAR+ at www.sedarplus.ca. Except as may be required by Canadian securities laws, the Corporation does not intend nor does it undertake any obligation to update or revise any forward-looking information contained in this press release to reflect subsequent information, events, circumstances or otherwise. The Corporation cautions readers that the risks described above are not the only ones that could have an impact on it. Additional risks and uncertainties not currently known to the Corporation or that the Corporation currently deems to be immaterial may also have a material adverse effect on the Corporation’s business, financial condition or results of operations. 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Highlights Net revenue of $1.6 billion, an increase of 6.9% compared to Q2 2024 Adjusted EBITDA1 increase of 15.0% to $284.4 million and adjusted EBITDA margin1 of 17.8%, a 120 basis point increase over Q2 2024 Diluted EPS of $1.19 and adjusted EPS1 of $1.36, up 63.0% and 21.4%, respectively, compared to Q2 2024 Contract backlog of $7.9 billion, up 9.9% year-over-year, including 9% organic growth Acquired Cosgroves, a 90-person industry-leading firm, expanding buildings engineering capabilities in New Zealand Closed the acquisition of Page, a 1,400 person US-based design, architecture and engineering firm Increased guidance for net revenue, EBITDA margin, adjusted diluted EPS and adjusted ROIC to reflect strong performance year-to-date and the closure of the Page acquisition. EDMONTON, Alberta and NEW YORK, Aug. 13, 2025 (GLOBE NEWSWIRE) -- Stantec (TSX, NYSE:STN), a global leader in sustainable engineering, architecture and environmental consulting, released its second quarter 2025 results today which were underpinned by the continued demand for Stantec’s services and solid project execution. Net revenue increased to $1.6 billion in the second quarter, a 6.9% year-over-year increase, primarily driven by 4.8% organic growth1. Organic growth was achieved in each of Stantec's regional and business operating units, with Canada, the United States and Global achieving 6.2%, 4.4% and 4.3% organic growth, respectively. Most notably, Water achieved 12.4% organic growth and Energy & Resources delivered 9.5% organic growth. Second quarter 2025 adjusted EBITDA increased 15.0% or $37.1 million, and adjusted EBITDA margin was 17.8%, up 120 basis points compared to the second quarter of 2024. Stantec delivered diluted earnings per share (EPS) of $1.19 and adjusted EPS of $1.36. “Throughout the first half of 2025, Stantec has delivered strong financial and operational results, underpinned by the diversification of our business, and continued demand across all of our regions,” said Gord Johnston, President and CEO. “With our strong performance year-to-date and the acquisitions of Ryan Hanley, Cosgroves, and now Page, we are increasing our guidance for the full year.” _______________1 Adjusted EPS, adjusted net income, adjusted EBITDA, adjusted EBITDA  margin, and adjusted ROIC are non-IFRS measures, and organic growth, acquisition growth and DSO are other financial measures (discussed in the Definitions section of the Q2 2025 MD&A). 2025 Outlook Stantec is revising upward and narrowing certain targets contained within its 2025 guidance.   Previously Published 2025 Annual Range Revised 2025 Annual Range Targets     Net revenue growth 7% to 10% 10% to 12 % Adjusted EBITDA as % of net revenue (note) 16.7% to 17.3% 17% to 17.4% Adjusted net income as % of net revenue (note) above 8.8% above 8.8% Adjusted EPS growth (note) 16% to 19% 18.5% to 21.5% Adjusted ROIC (note) above 12% above 12.5% In setting our targets and guidance, we assumed an average value for the US dollar of $1.36, GBP of $1.84, and AU of $0.90 for the remainder of the year. For all other underlying assumptions, see the Q2 2025 MD&A. These targets reflect the recent acquisitions of Ryan Hanley, Cosgroves, and Page. They do not include any assumptions regarding the impact of revaluing our share-based compensation, as further described below. note: Adjusted EBITDA, adjusted net income, adjusted EPS, and adjusted ROIC are non-IFRS measures discussed in the Definitions section of the Q2 2024 MD&A. Stantec now expects to achieve net revenue growth of 10% to 12% in 2025, increasing the range from 7% to 10%, due to the acquisitions completed during the second quarter and the closing of the acquisition of Page in July, and supported by the Company's continued expectations to achieve net revenue growth in the mid- to high-single digits. Stantec's US organic growth outlook has now moderated slightly to mid-single digits related to slower procurement cycles persisting in the public sector in the near term, and elevated caution in the private sectors particularly for larger projects. The Company continues to expect that Canada’s organic net revenue growth to be in the mid- to high-single digits, driven by continuing strong momentum and elevated backlog levels. Stantec also continues to expect organic net revenue growth in Global in the mid to high single-digits, driven by continued high levels of activity in the Water business under the ongoing UK Asset Management Program (AMP) and framework agreements and positive demand fundamentals in the Energy & Resources business. Stantec has increased and narrowed the range for adjusted EBITDA margin slightly to 17.0% to 17.4%, from 16.7% to 17.3%, reflecting strong project margins driven by solid project execution and continued discipline and enhanced strategies in the management of administration and marketing costs. The Company expects adjusted EBITDA margin in Q3 2025 to be near or above the high end of this range because of increased seasonal activities in the northern hemisphere, offset by lower expected margins in Q4 of 2025 due to seasonal effects. Stantec's effective tax rate is now expected to fall within a range of 23.5% to 24.5%, an increase from 22% to 23%, due to the mix of earnings from the various jurisdictions we operate in and moderating impacts on tax planning strategies. Overall, Stantec continues to expect to drive adjusted net income to a margin of greater than 8.8% of net revenue; however, the Company now expects to deliver 18.5% to 21.5% growth in adjusted EPS in comparison to 2024, increased from 16% to 19% in its previous guidance, and adjusted ROIC greater than 12.5%. The above targets do not include any assumptions for additional acquisitions beyond those noted in this Outlook section or further impact from significant share price movements subsequent to June 30, 2025, and the relative total shareholder return components on our share-based compensation programs. Q2 2025 compared to Q2 2024 Net revenue increased 6.9% or $103.4 million, to $1.6 billion, primarily driven by 4.8% organic growth. Stantec achieved organic growth in each of its regional and business operating units, most notably in Water with double-digit organic growth. Project margin increased 6.5% or $53.0 million, to $864.7 million. As a percentage of net revenue, project margin was 54.2%, remaining aligned with the Company's expectations. Adjusted EBITDA increased 15.0% or $37.1 million, to $284.4 million. Adjusted EBITDA margin was 17.8%, an increase of 120 basis points compared to Q2 2024. The quarter-over-quarter increase in margin primarily reflects lower administrative and marketing expenses as a percentage of net revenue, due to lower claim provision expense and discretionary spending. Net income increased 62.7% or $52.2 million, to $135.4 million, and diluted EPS increased 63.0%, or $0.46, to $1.19, mainly due to increases in project margin and as a percentage of net revenue, lower administrative and marketing expenses partly offset by higher income tax expense. As well, Q2 2024 included a non-cash impairment charge of $16.5 million from Stantec's real estate optimization strategy. Adjusted net income grew 21.6% or $27.5 million, to $154.7 million, achieving 9.7% of net revenue—an increase of 120 basis points. Adjusted EPS increased 21.4% or $0.24, to $1.36. Contract backlog increased to $7.9 billion at June 30, 2025, achieving 9.9% overall growth year over year, which includes 9.0% organic growth. Organic growth was achieved in all of Stantec's regional operating units. Contract backlog represents approximately 12 months of work. Operating cash flows increased $59.3 million or 79.4%, with cash inflows of $134.0 million, reflecting solid operational performance and continued strong collection efforts. DSO was 73 days, a decrease of 4 days from Q1 2025 and below the Company's target of 80 days.  Net debt to adjusted EBITDA (on a trailing twelve-month basis) at June 30, 2025 was 1.1x, remaining within Stantec's internal target range of 1.0x to 2.0x. On July 31,2025, Stantec acquired Page, a 1,400-person architecture and engineering firm headquartered in Washington, DC that strategically complements the Company's Buildings business and serves the advanced manufacturing, healthcare, mission critical, academic, civic, aviation, science and technology, and commercial markets. On April 8, 2025 Stantec acquired Ryan Hanley, a 150-person engineering and environmental consultancy firm in Ireland, bolstering its offering in the Irish water sector. On June 27, 2025, Stantec acquired Cosgroves, a 90-person firm, expanding the Company's buildings engineering capabilities in New Zealand. On June 10, 2025, Stantec issued $425 million senior unsecured notes due June 10, 2032 that bear interest at a fixed rate of 4.374% per annum. These notes were assigned an investment-grade credit rating of BBB by DBRS Limited. On June 11, 2025, Stantec increased its unsecured revolving credit facility to $1.2 billion from $800 million and extended the maturity date to June 11, 2030 from June 27, 2029. On August 13, 2025, Stantec's Board of Directors declared a dividend of $0.225 per share, payable on October 15, 2025, to shareholders of record on September 29, 2025. Year-to-date Q2 2025 compared to year-to-date Q2 2024 Net revenue increased 10.0% or $286.3 million, to $3.1 billion, driven by 5.3% organic growth and 2.0% acquisition growth, as well as the positive impact of foreign exchange. Stantec achieved organic growth in each of its regional and business operating units. Project margin increased $154.0 million or 9.9%, to $1,708.2 million. As a percentage of net revenue, project margin was 54.2%, remaining aligned with the Company's expectations. Adjusted EBITDA increased $77.5 million or 16.9%, to $536.7 million. Adjusted EBITDA margin increased by 100 basis points over the prior period to 17.0%, primarily reflecting lower administrative and marketing expenses as a percentage of net revenue, due to lower claim provision expense and discretionary spending. Net income increased 46.9% or $75.2 million, to $235.5 million, and diluted EPS increased 46.1%, or $0.65, to $2.06, mainly due to increases in project margin and as a percentage of net revenue, lower administrative and marketing expenses partly offset by higher income tax expense. As well, 2024 included a non-cash impairment charge of $16.5 million from our real estate optimization strategy. Adjusted net income grew 24.9% or $57.3 million, to $287.5 million, achieving 9.1% of net revenue—an increase of 110 basis points—and adjusted diluted EPS increased 24.8%, or 0.50, to 2.52. Operating cash flows increased $117.3 million or 100%, with cash inflows of $234.7 million, reflecting solid revenue growth, operational performance, and strong collection efforts. Q2 2025 Financial Highlights   For the quarter ended June 30, For the two quarters ended June 30,   2025 2024 2025 2024 (In millions of Canadian dollars, except per share amounts and percentages) $   % of NetRevenue   $   % of NetRevenue   $   % of NetRevenue   $   % of NetRevenue   Gross revenue        1,964.3   123.0 %        1,889.7   126.5 %        3,887.9   123.4 %       3,611.1   126.1 % Net revenue        1,596.7   100.0 %        1,493.3   100.0 %        3,149.7   100.0 %       2,863.4   100.0 % Direct payroll costs          732.0   45.8 %          681.6   45.6 %        1,441.5   45.8 %       1,309.2   45.7 % Project margin          864.7   54.2 %          811.7   54.4 %        1,708.2   54.2 %       1,554.2   54.3 % Administrative and marketing expenses (note 1)          598.3   37.5 %          578.4   38.7 %        1,210.3   38.4 %       1,124.3   39.3 % Depreciation of property and equipment            17.3   1.1 %            17.2   1.2 %            34.9   1.1 %            33.0   1.2 % Depreciation of lease assets            31.1   1.9 %            32.0   2.1 %            63.3   2.0 %            63.5   2.2 % Net (reversal) impairment of lease assets            (0.8 ) (0.1 %)            16.5   1.1 %            (0.9 ) — %            16.9   0.6 % Amortization of intangible assets            31.3   2.0 %            31.8   2.1 %            60.0   1.9 %            62.8   2.2 % Net interest expense and other net finance expense            21.2   1.3 %            27.4   1.8 %            42.6   1.4 %            51.6   1.8 % Other (income) expenses           (12.8 ) (0.7 %)              0.9   0.2 %           (11.1 ) (0.4 %)            (4.8 ) (0.2 %) Income taxes (note 1)            43.7   2.7 %            24.3   1.6 %            73.6   2.3 %            46.6   1.6 % Net income (note 1)          135.4   8.5 %            83.2   5.6 %          235.5   7.5 %          160.3   5.6 % Basic and diluted earnings per share (EPS) (note 1)            1.19   n/m              0.73   n/m              2.06   n/m              1.41   n/m   Adjusted EBITDA (note 2)          284.4   17.8 %          247.3   16.6 %          536.7   17.0 %          459.2   16.0 % Adjusted net income (note 2)          154.7   9.7 %          127.2   8.5 %          287.5   9.1 %          230.2   8.0 % Adjusted EPS (note 2)            1.36   n/m              1.12   n/m              2.52   n/m              2.02   n/m   Dividends declared per common share          0.225   n/m            0.210   n/m            0.450   n/m            0.420   n/m   note 1: Results for the quarter ended June 30, 2024 and for the two quarters ended June 30, 2024 have been retrospectively revised for the change in accounting policy related to the treatment of deferred payments from our historical acquisitions. Refer to the Critical Accounting Developments, Estimates, and Measurements section of the Q2 2025 MD&A  further details. note 2: Adjusted EBITDA, adjusted net income, and adjusted EPS are non-IFRS measures (discussed in the Definitions section of the Q2 2025 MD&A). n/m = not meaningful Net Revenue by Reportable Segment (In millions of Canadian dollars, except percentages) Q2 2025   Q2 2024   Total Change   Change Due to Acquisitions   Change Due to Foreign Exchange   Change Due to Organic Growth   % of Organic Growth   Canada 393.7   370.7   23.0   —   n/a   23.0   6.2 % United States 819.6   775.6   44.0   —   10.0   34.0   4.4 % Global 383.4   347.0   36.4   12.4   9.2   14.8   4.3 % Total 1,596.7   1,493.3   103.4   12.4   19.2   71.8     Percentage Growth         6.9 % 0.8 % 1.3 % 4.8 %                               Backlog (In millions of Canadian dollars, except percentages) Jun 30, 2025   Dec 31, 2024   Total Change   Change Due to Acquisitions   Change Due to Foreign Exchange   Change Due to Organic Growth   % of Organic Growth   Canada 1,786.6   1,687.1   99.5   —   n/a   99.5   5.9 % United States 4,584.7   4,722.6   (137.9 ) —   (230.5 ) 92.6   2.0 % Global 1,490.5   1,414.2   76.3   16.1   43.6   16.6   1.2 % Total 7,861.8   7,823.9   37.9   16.1   (186.9 ) 208.7     Percentage Growth         0.5 % 0.2 % (2.4 )% 2.7 %                             Webcast & Conference Call Stantec will host a live webcast and conference call on Thursday, August 14, 2025, at 7:00 AM Mountain Time (9:00 AM Eastern Time) to discuss the Company’s second quarter performance. To listen to the webcast and view the slide presentation, please join here. If you are an analyst and would like to participate in the Q&A, please register here. The conference call and slideshow presentation will be broadcast live and archived in their entirety in the Investors section of Stantec.com. About Stantec Stantec empowers clients, people, and communities to rise to the world’s greatest challenges at a time when the world faces more unprecedented concerns than ever before.   ​We are a global leader in sustainable engineering, architecture, and environmental consulting. ​Our professionals deliver the expertise, technology, and innovation communities need to manage aging infrastructure, demographic and population changes, the energy transition, and more. ​ Today’s communities transcend geographic borders. At Stantec, community means everyone with an interest in the work that we do—from our project teams and industry colleagues to our clients and the people our work impacts. The diverse perspectives of our partners and interested parties drive us to think beyond what’s previously been done on critical issues like climate change, digital transformation, and future-proofing our cities and infrastructure.  ​ We are designers, engineers, scientists, project managers, and strategic advisors. We innovate at the intersection of community, creativity, and client relationships to advance communities everywhere, so that together we can redefine what’s possible.​ Stantec trades on the TSX and the NYSE under the symbol STN. Cautionary Statements Non-IFRS and Other Financial Measures Stantec reports its financial results in accordance with IFRS. However, in this press release, the following non-IFRS and other financial measures are used by the Company: adjusted EBITDA, adjusted net income, adjusted earnings per share (EPS), adjusted return on invested capital (ROIC), free cash flow, net debt to adjusted EBITDA, days sales outstanding (DSO), margin (percentage of net revenue), organic growth (retraction), acquisition growth, and measures described as on a constant currency basis and the impact of foreign exchange or currency fluctuations, as well as measures and ratios calculated using these non-IFRS or other financial measures. Additional disclosure for these non-IFRS and other financial measures, incorporated by reference, is included in the Definitions of Non-IFRS and Other Financial Measures section of the Q2 2025 Management’s Discussion and Analysis, available on SEDAR+ at sedarplus.ca, EDGAR at sec.gov, and the Company’s website at Stantec.com and the reconciliation of Non-IFRS Financial Measures appended hereto. These non-IFRS and other financial measures do not have a standardized meaning under IFRS and, therefore, may not be comparable similar measures presented by other issuers. Management believes that, in addition to conventional measures prepared in accordance with IFRS, these non-IFRS and other financial measures provide useful information to investors to assist them in understanding components of Stantec's financial results. These measures should not be considered in isolation or viewed as a substitute for the related financial information prepared in accordance with IFRS. Forward-looking Statements Certain statements contained in this news release constitute forward-looking statements. Forward-looking statements in this news release include, but are not limited to, (a) statements regarding the anticipated benefits and strategic positioning of Stantec after giving effect to the Page acquisition, and (b) Stantec's Outlook and Annual Targets for 2025 in their entirety, any projections related to revenue, adjusted EBITDA as a % of net revenue, adjusted net income as a % of net revenue, adjusted diluted EPS growth, adjusted ROIC, free cash flow to net income, net debt to adjusted EBITDA, effective tax rate, earnings patterns, and days sales outstanding. Any such statements represent the views of management only as of the date hereof and are presented for the purpose of assisting the Company’s shareholders in understanding Stantec’s operations, objectives, priorities, and anticipated financial performance as at and for the periods ended on the dates presented and may not be appropriate for other purposes. By their nature, forward-looking statements require management to make assumptions and are subject to inherent risks and uncertainties. Stantec's assumptions relating to the 2025 Outlook and Annual Targets are provided in the Company’s 2024 Annual Report. Readers of this news release are cautioned not to place undue reliance on forward-looking statements since a number of factors could cause actual future results to differ materially from the expectations expressed in these forward-looking statements. These factors include, but are not limited to, the risk of the Page acquisition not completing, economic downturns, future pandemics or health crises that could adversely affect operations, reduced public or private sector capital spend, changing market conditions for Stantec’s services, and the risk that Stantec fails to capitalize on its strategic initiatives. Investors and the public should carefully consider these factors, other uncertainties, and potential events, as well as the inherent uncertainty of forward-looking statements, when relying on these statements to make decisions with respect to the Company. Future outcomes relating to forward-looking statements may be influenced by many factors and material risks. For the three and six month periods ended June 30, 2025, there has been no significant change in the risk factors from those described in Stantec's 2024 Annual Report. This report is accessible online by visiting EDGAR on the SEC website at sec.gov or by visiting the CSA website at sedar+.com or Stantec’s website, stantec.com. You may obtain a hard copy of the 2024 Annual Report free of charge from the investor contact noted below. Investor ContactJess NieukerkStantec Investor RelationsPh: 403-569-5389jess.nieukerk@stantec.com To subscribe to Stantec’s email news alerts, please fill out the subscription form, which is also available on the Contact Information page of the Investors section at Stantec.com. Design with community in mind Attached to this news release are Stantec’s reconciliation of non-IFRS financial measures. Reconciliation of Non-IFRS Financial Measures   For the quarter ended June 30, For the two quarters ended June 30, (In millions of Canadian dollars, except per share amounts) 2025   2024   2025   2024   Net income (note 1)                 135.4                     83.2                   235.5                   160.3   Add back (deduct):         Income taxes (note 1) 43.7   24.3   73.6   46.6   Net interest expense 20.7   27.3   41.7   51.3   Net impairment of lease assets (note 2) 0.1   18.4   —   18.9   Depreciation and amortization 79.7   81.0   158.2   159.3   Unrealized (gain) loss on equity securities (7.9 ) (1.8 ) 0.8   (3.7 ) Gain on sale of an investment interest (3.7 ) —   (3.7 ) —   Acquisition, integration, and restructuring costs (note 1,6,7) 16.4   14.9   30.6   26.5             Adjusted EBITDA                 284.4                   247.3                   536.7                   459.2                       For the quarter ended June 30, For the two quarters ended June 30, (In millions of Canadian dollars, except per share amounts) 2025   2024   2025   2024   Net income (note 1)                 135.4                     83.2                   235.5                   160.3   Add back (deduct) after tax:         Net impairment of lease assets (note 2) 0.1   14.4   —   14.7   Amortization of intangible assets related to acquisitions (note 3) 15.7   18.9   30.8   37.0   Unrealized (gain) loss on equity securities (note 4) (6.1 ) (1.4 ) 0.6   (2.9 ) Gain on sale of an investment interest (note 5) (2.8 ) —   (2.8 ) 0   Acquisition, integration, and restructuring costs (note 1,6,7) 12.4   12.1   23.4   21.1             Adjusted net income                 154.7                   127.2                   287.5                   230.2   Weighted average number of shares outstanding - diluted 114,066,995   114,066,995   114,066,995   114,066,995   Adjusted earnings per share                   1.36                     1.12                     2.52                     2.02   See the Definitions section of the Q2 2025 MD&A for the discussion of non-IFRS and other financial measures used and additional reconciliations of non-IFRS financial measures. note 1: Results for the quarter ended June 30, 2024 and for the two quarters ended June 30, 2024 have been retrospectively revised for the change in accounting policy related to the treatment of deferred payments from historical acquisitions. Refer to the Critical Accounting Developments, Estimates, and Measurements section of the Q2 2025 MD&A for further details. note 2: The net (reversal) impairment of lease assets includes onerous contracts associated with the impairment for the quarter ended June 30, 2025 of $0.9 (2024 - $1.9) and for the two quarters ended June 30, 2025 of $0.9 (2024 - $2.0). For the quarter ended June 30, 2025, this amount is net of tax of nil (2024 - $4.0). For the two quarters ended June 30, 2025, this amount is net of tax of nil (2024 -$4.2). note 3: The add back of intangible amortization relates only to the amortization from intangible assets acquired through acquisitions and excludes the amortization of software purchased by Stantec. For the quarter ended June 30, 2025, this amount is net of tax of $5.1 (2024 - $5.4) and for the two quarters ended June 30, 2025, this amount is net of tax of $9.6 (2024 - $10.7). note 4: For the quarter ended June 30, 2025, this amount is net of tax of $(1.8) (2024 - $(0.4)) and for the two quarters ended June 30, 2025, this amount is net of tax of $0.2 (2024 - $(0.8)). note 5: For the quarter ended June 30, 2025, this amount is net of tax of $(0.9) (2024 - nil) and for the two quarters ended June 30, 2025, this amount is net of tax of $(0.9) (2024 - nil).                                                                                                                                              note 6: The add back of certain administrative and marketing costs and depreciation primarily related to acquisition and integration expenses associated with our acquisitions and restructuring costs. For the quarter ended June 30, 2025, this amount is net of tax of $4.1 (2024 - $3.5) and for the two quarters ended June 30, 2025, this amount is net of tax of $7.3 (2024 - $6.1). note 7: Acquisition, integration, and restructuring cost include additional acquisition costs related to the change in accounting policy described in note 1 for the quarter ended June 30, 2025 of $0.1 (2024 - $1.8) and for the two quarters ended June 30, 2025, of $0.7 (2024 - $4.8). The post Stantec reports second quarter 2025 results, delivering over 20% growth in adjusted earnings per share and increases its 2025 outlook appeared first on ForexTV.

ACHESON, Alberta, Aug. 13, 2025 (GLOBE NEWSWIRE) -- North American Construction Group Ltd. (“NACG”) (TSX:NOA/NYSE:NOA) today announced results for the second quarter ended June 30, 2025. Unless otherwise indicated, financial figures are expressed in Canadian dollars, and comparisons are to the prior second quarter ended June 30, 2024. Second Quarter 2025 Financial Highlights: Combined revenue was $370.6 million and increased 12% (reported revenue of $320.6 million, increased 16%) Combined gross profit was $39.8 million (11%) and decreased 37% (reported gross profit of $35.8 million (11%), decreased 29%) Adjusted EPS was $0.02 and decreased 98% (basic earnings per share of $0.35, decreased 35%) Adjusted EBITDA was $80.1 million and decreased 12% (net income of $10.3 million, decreased 29%) Free cash flow was a use of cash of $0.4 million and increased $10.2 million Net debt was $896.9 million and increased $29.5 million Second Quarter 2025 Operational Highlights: Revenue and combined revenue for the second quarter increased, driven by global equipment utilization of 74%, consistent with 74% in the prior year, as well as strong performance in the both the Heavy Equipment - Australia and Heavy Equipment - Canada segments. Heavy Equipment - Australia revenue increased 14% to $168.1 million from $147.2 million due to their expanded heavy equipment fleet and ongoing production at a new copper mine project. Heavy Equipment - Canada revenue increased 20% to $147.4 million from $122.8 million due to increased reclamation activities and the ramp-up of the stream diversion project. Revenue generated by joint ventures and affiliates decreased 6% to $50.0 million from $53.4 million primarily due to lower revenue contributions by the Nuna joint venture. Our portion of revenue generated by the civil-infrastructure Fargo project remained strong this year, comparable to the prior year, as the project continued strong production momentum through the quarter. Gross profit for the quarter was negatively impacted by one-time or infrequent disruptions. We have taken targeted actions to mitigate certain issues, and we do not expect them to affect future performance. A temporary over-reliance on subcontractor labour in Australia increased costs and impacted margins. We are now focused on hiring and training internal labour to minimize this going forward. An abrupt, customer-requested shut-down of work, followed by a ramp back up later in the quarter, impacted margin efficiency for the Heavy Equipment - Canada segment. Adjusted EPS for the second quarter fell short of expectations largely due to the same issues impacting gross profit, along with a $7.7 million cumulative catch-up reduction in equity earnings. This adjustment is a one-time item arising from the settlement of a claim and a subsequent forecast revision for the Fargo project, resulting in a true-up to the forecast margin percentage. The Q2 adjusted EBITDA was lower year-over-year due to the same factors that impacted gross profit. Free cash flow for the quarter was a use of cash of $0.4 million. This use of cash was primarily based on adjusted EBITDA generation of $80.1 million offset by sustaining capital additions ($68.2 million), cash interest expense ($13.4 million), and current income tax expense ($0.8 million). Our net debt increase in the current quarter was primarily driven by growth capital of $24.5 million. Joe Lambert, President and CEO stated "Our outlook for the second half remains positive. We remain confident in delivering second half year results consistent with our original expectations aside from our oil sands business. While we expect revenue in the remainder of 2025 in the oil sands consistent with original expectations, we now expect increased costs due to demand volatility and near-term costs on our largest truck fleets. Beyond 2025, our long-term growth targets remain intact, with anticipated organic revenue growth of 5% to 10% annually, underpinned by ongoing Australian growth and new infrastructure projects that will further enhance operational diversification." Declaration of Quarterly Dividend On August 12th, 2025, the NACG Board of Directors declared a regular quarterly dividend (the “Dividend”) of twelve Canadian cents ($0.12) per common share, payable to common shareholders of record at the close of business on August 29, 2025. The Dividend will be paid on October 3, 2025, and is an eligible dividend for Canadian income tax purposes. NACG’s outlook for 2025 The following table provides projected key measures for 2025. While our revenue guidance remains unchanged, supported by our backlog, our EBITDA and EPS guidance for the second half of 2025 have been adjusted to reflect increased near-term costs related to demand volatility and higher maintenance requirements. Guidance on sustaining and growth capital spending and free cash flow remain unchanged. Our updated debt leverage target reflects the debenture conversions in the first quarter of 2025.     Actual results for the six months ended   Outlook for the six months ended     June 30, 2024   December 31, 2024   June 30, 2025   December 31, 2025         Current   Previous Key measures                     Combined revenue(i)   $675M   $740M   $762M   $700 - $750M   No Change Adjusted EBITDA(i)   $188M   $202M   $180M   $190 - $210M   $205 - $225M Adjusted EPS(i)   $1.58   $2.15   $0.54   $1.40 - $1.60   $1.95 - $2.15 Sustaining capital(i)   $138M   $69M   $158M   $60 - $70M   No Change Free cash flow(i)   ($50M)   $68M   ($42M)   $95 - $105M   No Change                       Capital allocation                     Growth spending(i)   $40M   $45M   $53M   Approx. $25M   No Change Net debt leverage(i)   2.2x   2.2x   2.2x   Targeting 2.1x   1.7x                       (i)See “Non-GAAP Financial Measures”. Results for the three and six months ended June 30, 2025 Consolidated Financial Highlights     Three months ended   Six months ended     June 30,   June 30, (dollars in thousands, except per share amounts)   2025   2024   2025   2024 Revenue   $ 320,634     $ 276,314     $ 661,467     $ 573,340   Cost of sales(i)     230,293       182,804       472,521       378,474   Depreciation(i)     54,511       43,151       115,225       91,013   Gross profit(i)   $ 35,830     $ 50,359     $ 73,721     $ 103,853   Gross profit margin(i)(ii)     11.2 %     18.2 %     11.1 %     18.1 % General and administrative expenses (excluding stock-based compensation)(ii)     11,698       12,483       22,788       23,318   Stock-based compensation expense (benefit)     964       (1,859 )     (2,444 )     1,749   Operating income(i)     22,789       39,395       53,371       77,875   Interest expense, net     14,123       14,339       27,639       29,936   Net income(i)     10,250       14,503       16,413       26,014   Comprehensive income(i)     9,691       15,834       16,332       26,652                     Adjusted EBITDA(i)(ii)     80,113       91,089       180,045       188,475   Adjusted EBITDA margin(i)(ii)(iii)     21.6 %     27.6 %     23.6 %     27.9 %                   Per share information                 Basic net income per share   $ 0.35     $ 0.54     $ 0.57     $ 0.97   Diluted net income per share   $ 0.33     $ 0.48     $ 0.55     $ 0.88   Adjusted EPS(ii)   $ 0.02     $ 0.80     $ 0.54     $ 1.58                                     (i)The prior year amounts are adjusted to reflect a change in policy. See "Change in significant accounting policy".(ii)See "Non-GAAP Financial Measures".(iii)Adjusted EBITDA margin is calculated using adjusted EBITDA over total combined revenue. Free cash flow     Three months ended   Six months ended     June 30,   June 30, (dollars in thousands)   2025   2024   2025   2024 Consolidated Statements of Cash Flows                 Cash provided by operating activities(i)   $ 64,674     $ 66,431     $ 116,092     $ 85,390   Cash used in investing activities(i)     (71,823 )     (87,017 )     (165,604 )     (153,112 ) Effect of exchange rate on changes in cash     915       (875 )     (160 )     (974 ) Add back of growth and non-cash items included in the above figures:                 Growth capital additions(ii)     24,463       19,943       52,529       39,550   Capital additions financed by leases(ii)     (18,605 )     (9,031 )     (44,808 )     (21,069 ) Free cash flow(i)   $ (376 )   $ (10,549 )   $ (41,951 )   $ (50,215 )                                   (i)The prior year amounts are adjusted to reflect a change in policy. See "Change in significant accounting policy".(ii)See "Non-GAAP Financial Measures". Net debt (dollars in thousands)   June 30, 2025   March 31, 2025   December 31, 2024 Credit Facility(i)   $          257,536     $          421,702     $          395,844   Equipment financing(i)                 314,414                   310,361                   253,639   Contingent obligations(i)                   96,837                   131,246                   127,866   Senior debt(ii)                 668,787                   863,309                   777,349   Senior unsecured notes                 225,000                             —                             —   Mortgage(i)                   27,175                     27,388                     27,600   Total debt(ii)                 920,962                   890,697                   804,949   Convertible debentures(i)                   55,000                     55,000                   129,106   Cash                 (79,025 )                 (78,241 )                 (77,875 ) Net debt(ii)   $          896,937     $          867,456     $          856,180                             (i)Includes current portion. (ii)See "Non-GAAP Financial Measures". Conference Call and Webcast Management will hold a conference call and webcast to discuss our financial results for the quarter ended June 30, 2025, tomorrow, Thursday, August 14, 2025, at 7:00 am Mountain Time (9:00 am Eastern Time). The call can be accessed by dialing: Toll Free: 1-800-717-1738Conference ID: 53211 A replay will be available through September 15, 2025, by dialing: Toll Free: 1-888-660-6264Conference ID: 53211Playback Passcode: 53211 The 2025 Q2 earnings presentation for the webcast will be available for download on the company’s website at www.nacg.ca/presentations/ The live presentation and webcast can be accessed at: https://onlinexperiences.com/scripts/Server.nxp?LASCmd=AI:4;F:QS!10100&ShowUUID=87347F42-2D6F-4E06-867A-B96665B437F5 A replay will be available until September 15, 2025, using the link provided. About the Company North American Construction Group Ltd. is a premier provider of heavy civil construction and mining services in Australia, Canada, and the U.S. For over 70 years, NACG has provided services to the mining, resource and infrastructure construction markets. For further information contact: Jason Veenstra, CPA, CAChief Financial OfficerNorth American Construction Group Ltd.(780) 960-7171IR@nacg.cawww.nacg.ca Basis of Presentation We have prepared our consolidated financial statements in conformity with accounting principles generally accepted in the United States ("US GAAP"). Unless otherwise specified, all dollar amounts discussed are in Canadian dollars. Please see the Management’s Discussion and Analysis (“MD&A”) for the quarter ended June 30, 2025, for further detail on the matters discussed in this release. In addition to the MD&A, please reference the dedicated 2025 Q2 Results Presentation for more information on our results and projections which can be found on our website under Investors - Presentations. Change in significant accounting policy - Classification of heavy equipment tires Effective in the first quarter of 2025, we have changed our accounting policy for the classification of heavy equipment tires. These tires are now recognized as property, plant, and equipment on the Consolidated Balance Sheets and are amortized through depreciation on the Consolidated Statements of Operations and Comprehensive Income. Previously, all tires were classified as inventories and expensed through cost of sales when placed into service. This change in accounting policy provides a more accurate reflection of the role of tires as components of the heavy equipment in which they are utilized, aligning the accounting treatment with the economic substance of their use. We have applied this change retrospectively in accordance with Accounting Standards Codification ("ASC") 250, Accounting Changes and Error Corrections, by restating the comparative period. For further details regarding the retrospective adjustments, refer to Note 16 in the consolidated financial statements for the period ended June 30, 2025. Forward-Looking Information The information provided in this release contains forward-looking statements. Forward-looking statements include statements preceded by, followed by or that include the words “anticipate”, “believe”, “expect”, “should” or similar expressions. The material factors or assumptions used to develop the above forward-looking statements include, and the risks and uncertainties to which such forward-looking statements are subject, are highlighted in the MD&A for the three and six months ended June 30, 2025. Actual results could differ materially from those contemplated by such forward-looking statements because of any number of factors and uncertainties, many of which are beyond NACG’s control. Undue reliance should not be placed upon forward-looking statements and NACG undertakes no obligation, other than those required by applicable law, to update or revise those statements. For more complete information about NACG, please read our disclosure documents filed with the SEC and the CSA. These free documents can be obtained by visiting EDGAR on the SEC website at www.sec.gov or on the CSA website at www.sedarplus.com. Non-GAAP Financial Measures This press release presents certain non-GAAP financial measures because management believes that they may be useful to investors in analyzing our business performance, leverage and liquidity. The non-GAAP financial measures we present include "adjusted EBIT", "adjusted EBITDA", "adjusted EBITDA margin", "adjusted EPS", "adjusted net earnings", "capital additions", "capital work in progress", "cash liquidity", "cash provided by operating activities prior to change in working capital", "cash related interest expense", "combined gross profit", "combined gross profit margin", "equity investment depreciation and amortization", "equity investment EBIT", "free cash flow", "general and administrative expenses (excluding stock-based compensation)", "gross profit margin", "growth capital", "margin", "net debt", "net debt leverage", "senior debt", "sustaining capital", "total capital liquidity", "total combined revenue", and "total debt". A non-GAAP financial measure is defined by relevant regulatory authorities as a numerical measure of an issuer's historical or future financial performance, financial position or cash flow that is not specified, defined or determined under the issuer’s GAAP and that is not presented in an issuer’s financial statements. These non-GAAP measures do not have any standardized meaning and therefore are unlikely to be comparable to similar measures presented by other companies. They should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. Each non-GAAP financial measure used in this press release is defined and reconciled to its most directly comparable GAAP measure in the "Non-GAAP Financial Measures" section of our Management’s Discussion and Analysis filed concurrently with this press release. Reconciliation of net income to adjusted net earnings, adjusted EBIT and adjusted EBITDA     Three months ended   Six months ended     June 30,   June 30, (dollars in thousands)   2025   2024   2025   2024 Net income(i)   $ 10,250     $ 14,503     $ 16,413     $ 26,014   Adjustments:                 Stock-based compensation expense (benefit)     964       (1,859 )     (2,444 )     1,749   (Gain) loss on disposal of property, plant and equipment     (110 )     32       (1,084 )     293   Change in fair value of contingent obligations from adjustments to estimates     (17,485 )     7,420       (18,802 )     8,858   Loss on derivative financial instruments     750       273       7,662       273   Equity investment loss (gain) on derivative financial instruments     892       (984 )     1,911       970   Equity investment restructuring costs     —       —       —       4,517   Depreciation expense relating to early component failures     —       —       4,274       —   Post-acquisition asset relocation and integration costs     —       —       1,640       —   Write-down on assets held for sale     —       4,181       —       4,181   Tax effect of the above items     5,426       (2,248 )     5,726       (4,507 ) Adjusted net earnings(i)(ii)     687       21,318       15,296       42,348   Adjustments:                 Tax effect of the above items     (5,426 )     2,248       (5,726 )     4,507   Interest expense, net     14,123       14,339       27,639       29,936   Equity investment EBIT(ii)     (5,057 )     6,555       (1,747 )     2,787   Equity loss (earnings) in affiliates and joint ventures     5,133       (6,629 )     1,850       (5,117 ) Change in fair value of contingent obligations     4,247       4,143       8,594       8,098   Income tax expense     5,771       5,346       10,015       9,813   Adjusted EBIT(i)(ii)     19,478       47,320       55,921       92,372   Adjustments:                 Depreciation(i)     54,511       43,151       115,225       91,013   Amortization of intangible assets     489       308       1,090       618   Depreciation expense relating to early component failures     —       —       (4,274 )     —   Write-down on assets held for sale     —       (4,181 )     —       (4,181 ) Equity investment depreciation and amortization(ii)     5,635       4,491       12,083       8,653   Adjusted EBITDA(i)(ii)   $ 80,113     $ 91,089     $ 180,045     $ 188,475   Adjusted EBITDA margin(i)(ii)(iii)     21.6 %     27.6 %     23.6 %     27.9 %                                   (i)The prior year amounts are adjusted to reflect a change in policy. See "Change in significant accounting policy".(ii)See "Non-GAAP Financial Measures". (iii)Adjusted EBITDA margin is calculated using adjusted EBITDA over total combined revenue. Reconciliation of equity earnings in affiliates and joint ventures to equity investment EBIT     Three months ended   Six months ended     June 30,   June 30, (dollars in thousands)    2025     2024     2025     2024  Equity (loss) earnings in affiliates and joint ventures   $             (5,133 )   $               6,629     $             (1,850 )   $               5,117   Adjustments:                 Loss (gain) on disposal of property, plant and equipment                         155                             —                           157                         (175 ) Interest (income) expense                         183                         (146 )                         154                         (719 ) Income tax expense (benefit)                       (262 )                           72                         (208 )                   (1,436 ) Equity investment EBIT(i)   $             (5,057 )   $               6,555     $             (1,747 )   $               2,787                                     (i)See "Non-GAAP Financial Measures". Reconciliation of total reported revenue to total combined revenue     Three months ended   Six months ended     June 30,   June 30, (dollars in thousands)    2025     2024     2025     2024  Revenue from wholly-owned entities per financial statements   $          320,634     $          276,314     $          661,467     $          573,340   Share of revenue from investments in affiliates and joint ventures                 121,843                   112,377                   257,740                   238,215   Elimination of joint venture subcontract revenue                 (71,849 )                 (58,968 )               (157,415 )               (136,119 ) Total combined revenue(i)   $          370,628     $          329,723     $          761,792     $          675,436                                     (i)See "Non-GAAP Financial Measures". Reconciliation of reported gross profit to combined gross profit     Three months ended   Six months ended     June 30,   June 30, (dollars in thousands)    2025    2024    2025    2024 Gross profit from wholly-owned entities per financial statements   $             35,830   $             50,359   $             73,721   $          103,853 Share of gross (loss) profit from investments in affiliates and joint ventures                     3,947                   12,920                   17,284                   21,855 Combined gross profit(i)(ii)   $             39,777   $             63,279   $             91,005   $          125,708                           (i)See "Non-GAAP Financial Measures". (ii)The prior year amounts are adjusted to reflect a change in policy. See "Change in significant accounting policy". Reconciliation of basic net income per share to adjusted EPS     Three months ended   Six months ended     June 30,   June 30, (dollars in thousands)    2025    2024    2025    2024 Net income(i)   $             10,250   $             14,503   $             16,413   $             26,014 Interest from convertible debentures (after tax)                         616                     1,489                     1,728                     2,981 Diluted net income available to common shareholders(i)   $             10,866   $             15,992   $             18,141   $             28,995                   Adjusted net earnings(i)(ii)   $                  687   $             21,318   $             15,296   $             42,348                   Weighted-average number of common shares           29,354,387           26,730,049           28,611,557           26,731,762 Weighted-average number of diluted common shares           32,562,639           33,026,740           32,743,696           33,026,740                   Basic net income per share   $                 0.35   $                 0.54   $                 0.57   $                 0.97 Diluted net income per share   $                 0.33   $                 0.48   $                 0.55   $                 0.88 Adjusted EPS(ii)   $                 0.02   $                 0.80   $                 0.54   $                 1.58                           (i)The prior year amounts are adjusted to reflect a change in policy. See "Change in significant accounting policy". (ii)See "Non-GAAP Financial Measures". Interim Consolidated Balance Sheets (Expressed in thousands of Canadian Dollars)(Unaudited)     June 30, 2025   December 31, 2024(i) Assets         Current assets         Cash   $             79,025     $             77,875   Accounts receivable                 195,313                   166,070   Contract assets                   15,670                       4,135   Inventories                   74,217                     69,027   Prepaid expenses and deposits                     5,540                       7,676   Assets held for sale                         683                           683                     370,448                   325,466   Property, plant and equipment, net of accumulated depreciation of $539,496 (December 31, 2024 – $500,303)             1,350,451               1,251,874   Operating lease right-of-use assets                   11,181                     12,722   Investments in affiliates and joint ventures                   79,181                     84,692   Intangible assets                   10,159                       9,901   Other assets                     5,795                       9,845   Total assets   $       1,827,215     $       1,694,500   Liabilities and shareholders’ equity         Current liabilities         Accounts payable   $          143,044     $          110,750   Accrued liabilities                   60,966                     78,010   Contract liabilities                     6,444                       1,944   Current portion of long-term debt                 149,539                     84,194   Current portion of contingent obligations                   33,021                     39,290   Current portion of operating lease liabilities                     1,488                       1,771                     394,502                   315,959   Long-term debt                 723,061                   719,399   Contingent obligations                   63,816                     88,576   Operating lease liabilities                   10,279                     11,441   Other long-term obligations                   42,910                     44,711   Deferred tax liabilities                 132,431                   125,378                 1,366,999               1,305,464   Shareholders' equity         Common shares (authorized – unlimited number of voting common shares; issued and outstanding – June 30, 2025 - 30,176,981 (December 31, 2024 – 27,704,450))                 295,074                   228,961   Treasury shares (June 30, 2025 - 1,010,022 (December 31, 2024 - 1,000,328))                 (16,156 )                 (15,913 ) Additional paid-in capital                   16,783                     20,819   Retained earnings                 165,698                   156,271   Accumulated other comprehensive loss                   (1,183 )                   (1,102 ) Shareholders' equity                 460,216                   389,036   Total liabilities and shareholders’ equity   $       1,827,215     $       1,694,500                     (i)The prior year amounts are adjusted to reflect a change in policy. See "Change in significant accounting policy". Interim Consolidated Statements of Operations andComprehensive Income (Expressed in thousands of Canadian Dollars, except per share amounts)(Unaudited)      Three months ended   Six months ended     June 30,   June 30,     2025   2024(i)   2025   2024(i) Revenue   $ 320,634     $ 276,314     $ 661,467     $ 573,340   Cost of sales     230,293       182,804       472,521       378,474   Depreciation     54,511       43,151       115,225       91,013   Gross profit     35,830       50,359       73,721       103,853   General and administrative expenses     12,662       10,624       20,344       25,067   Amortization of intangible assets     489       308       1,090       618   (Gain) loss on disposal of property, plant and equipment     (110 )     32       (1,084 )     293   Operating income     22,789       39,395       53,371       77,875   Interest expense, net     14,123       14,339       27,639       29,936   Equity loss (earnings) in affiliates and joint ventures     5,133       (6,629 )     1,850       (5,117 ) Loss on derivative financial instruments     750       273       7,662       273   Change in fair value of contingent obligations     (13,238 )     11,563       (10,208 )     16,956   Income before income taxes     16,021       19,849       26,428       35,827   Current income tax expense (benefit)     798       (1,275 )     2,575       3,021   Deferred income tax expense     4,973       6,621       7,440       6,792   Net income   $ 10,250     $ 14,503     $ 16,413     $ 26,014   Other comprehensive income                 Unrealized foreign currency translation loss (gain)     559       (1,331 )     81       (638 ) Comprehensive income   $ 9,691     $ 15,834     $ 16,332     $ 26,652   Per share information                 Basic net income per share   $ 0.35     $ 0.54     $ 0.57     $ 0.97   Diluted net income per share   $ 0.33     $ 0.48     $ 0.55     $ 0.88                                     (i)The prior year amounts are adjusted to reflect a change in policy. See "Change in significant accounting policy". The post North American Construction Group Ltd. Announces Results for the Second Quarter Ended June 30, 2025 appeared first on ForexTV.

August 2025 Monthly Dividend of $0.12 Per Share of Common Stock RMBS Portfolio Characteristics as of July 31, 2025 Next Dividend Announcement Expected September 8, 2025 VERO BEACH, Fla., Aug. 13, 2025 (GLOBE NEWSWIRE) -- Orchid Island Capital, Inc. (the “Company”) (NYSE: ORC) announced today that the Board of Directors of the Company declared a monthly cash dividend for the month of August 2025. The dividend of $0.12 per share will be paid September 29, 2025 to holders of record of the Company’s common stock on August 29, 2025, with an ex-dividend date of August 29, 2025. The Company plans on announcing its next common stock dividend on September 8, 2025. The Company intends to make regular monthly cash distributions to its holders of common stock. In order to qualify as a real estate investment trust (“REIT”), the Company must distribute annually to its stockholders an amount at least equal to 90% of its REIT taxable income, determined without regard to the deduction for dividends paid and excluding any net capital gain. The Company will be subject to income tax on taxable income that is not distributed and to an excise tax to the extent that a certain percentage of its taxable income is not distributed by specified dates. The Company has not established a minimum distribution payment level and is not assured of its ability to make distributions to stockholders in the future. As of August 13, 2025, the Company had 133,172,673 shares of common stock outstanding. As of July 31, 2025, the Company had 130,595,848 shares of common stock outstanding. As of June 30, 2025, the Company had 126,566,926 shares of common stock outstanding. RMBS Portfolio Characteristics Details of the RMBS portfolio as of July 31, 2025 are presented below. These figures are preliminary and subject to change. The information contained herein is an intra-quarter update created by the Company based upon information that the Company believes is accurate: RMBS Valuation Characteristics RMBS Assets by Agency Investment Company Act of 1940 (Whole Pool) Test Results Repurchase Agreement Exposure by Counterparty RMBS Risk Measures About Orchid Island Capital, Inc. Orchid Island Capital, Inc. is a specialty finance company that invests on a leveraged basis in Agency RMBS. Our investment strategy focuses on, and our portfolio consists of, two categories of Agency RMBS: (i) traditional pass-through Agency RMBS, such as mortgage pass-through certificates and collateralized mortgage obligations issued by Fannie Mae, Freddie Mac or Ginnie Mae, and (ii) structured Agency RMBS. The Company is managed by Bimini Advisors, LLC, a registered investment adviser with the Securities and Exchange Commission. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements include, but are not limited to, statements about the Company’s distributions. These forward-looking statements are based upon Orchid Island Capital, Inc.’s present expectations, but these statements are not guaranteed to occur. Investors should not place undue reliance upon forward-looking statements. For further discussion of the factors that could affect outcomes, please refer to the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024.     RMBS Valuation Characteristics   ($ in thousands)                                                     Realized                                                   Realized   May-25 -                                                   Jul-25   Jul-25                               Net             Weighted   CPR   CPR                               Weighted             Average   (1-Month)   (3-Month)   Modeled Interest     Current Fair   % of   Current   Average             Maturity   (Reported   (Reported   Rate Sensitivity (1)   Type Face Value   Portfolio   Price   Coupon   GWAC   Age   (Months)   in Aug)   in Aug)   (-50 BPS) (+50 BPS)   Fixed Rate RMBS                                                                   30yr 3.0 $ 848,648   $ 741,107   10.08 %   87.33   3.00 %   3.48 %   53   299   7.8 %   6.9 %   $ 21,788   $ (22,024 ) 30yr 3.5   166,312     151,220   2.06 %   90.93   3.50 %   4.04 %   65   282   9.4 %   8.3 %     4,127     (4,170 ) 30yr 4.0   158,877     148,139   2.02 %   93.24   4.00 %   4.70 %   51   304   9.3 %   6.6 %     3,837     (3,986 ) 30yr 4.5   285,759     272,923   3.71 %   95.51   4.50 %   5.44 %   37   318   13.3 %   10.9 %     5,919     (6,433 ) 30yr 5.0   418,604     410,003   5.58 %   97.95   5.00 %   5.92 %   32   322   7.6 %   9.9 %     8,643     (9,528 ) 30yr 5.5   1,237,391     1,243,479   16.92 %   100.49   5.50 %   6.42 %   13   342   8.5 %   7.3 %     23,348     (27,107 ) 30yr 6.0   2,457,281     2,513,089   34.19 %   102.27   6.00 %   6.93 %   11   344   9.2 %   8.7 %     31,899     (40,450 ) 30yr 6.5   1,525,438     1,585,715   21.57 %   103.95   6.50 %   7.40 %   13   343   14.9 %   15.5 %     13,850     (19,122 ) 30yr 7.0   256,727     270,437   3.68 %   105.34   7.00 %   7.94 %   21   331   15.6 %   25.6 %     1,890     (2,587 ) 30yr Total   7,355,037     7,336,112   99.80 %   99.74   5.49 %   6.35 %   21   333   10.4 %   10.3 %     115,301     (135,407 ) Total Pass-Through RMBS   7,355,037     7,336,112   99.80 %   99.74   5.49 %   6.35 %   21   333   10.4 %   10.3 %     115,301     (135,407 ) Structured RMBS                                                                   IO 20yr 4.0   6,029     504   0.01 %   8.37   4.00 %   4.57 %   162   72   11.9 %   12.7 %     2     (2 ) IO 30yr 3.0   2,472     300   0.00 %   12.12   3.00 %   3.64 %   126   224   26.8 %   10.4 %     -     (1 ) IO 30yr 4.0   67,107     12,622   0.17 %   18.81   4.00 %   4.59 %   131   220   7.0 %   6.7 %     (211 )   138   IO 30yr 4.5   2,912     533   0.01 %   18.29   4.50 %   4.99 %   181   166   8.9 %   8.3 %     (3 )   1   IO 30yr 5.0   1,539     322   0.00 %   20.92   5.00 %   5.37 %   181   166   15.5 %   8.3 %     (4 )   2   IO Total   80,059     14,281   0.19 %   17.84   4.01 %   4.59 %   136   206   8.2 %   7.3 %     (216 )   138   IIO 30yr 4.0   19,647     185   0.00 %   0.94   0.00 %   4.40 %   94   254   9.5 %   5.7 %     92     (64 ) Total Structured RMBS   99,706     14,466   0.20 %   14.51   3.22 %   4.55 %   128   215   8.4 %   7.0 %     (124 )   74                                                                       Total Mortgage Assets $ 7,454,743   $ 7,350,578   100.00 %       5.46 %   6.33 %   23   332   10.3 %   10.3 %   $ 115,177   $ (135,333 )         Hedge   Modeled Interest   Notional Period   Rate Sensitivity (1) Hedge Balance End   (-50 BPS)   (+50 BPS) 3-Month SOFR Futures $ (115,000 ) Aug-26   $ (1,150 )   $ 1,150   5-Year Treasury Future(2)   (562,500 ) Sep-25     (11,695 )     11,433   10-Year Treasury Future(3)   (228,500 ) Sep-25     (7,455 )     7,243   10-Year Ultra Treasury Future(4)   (197,500 ) Sep-25     (8,658 )     8,292   5-Year ERIS SOFR Swap Futures   (10,000 ) Sep-25     (231 )     224   Swaps   (3,843,300 ) Feb-31     (96,488 )     93,225   TBA Short   (340,000 ) Aug-25     (2,505 )     3,747   Hedge Total $ (5,296,800 )     $ (128,182 )   $ 125,314   Rate Shock Grand Total           $ (13,005 )   $ (10,019 )   (1 ) Modeled results from Citigroup Global Markets Inc. Yield Book. Interest rate shocks assume instantaneous parallel shifts and horizon prices are calculated assuming constant SOFR option-adjusted spreads. These results are for illustrative purposes only and actual results may differ materially. (2 ) Five-year Treasury futures contracts were valued at prices of $108.17 at July 31, 2025. The market value of the short position was $608.5 million. (3 ) Ten-year Treasury futures contracts were valued at prices of $111.06 at July 31, 2025. The market value of the short position was $253.8 million. (4 ) Ten-year Ultra futures contracts were valued at prices of $113.08 at July 31, 2025. The market value of the short position was $223.3 million. RMBS Assets by Agency               ($ in thousands)                         Percentage   Fair   of Asset Category Value   Portfolio As of July 31, 2025               Fannie Mae $ 4,419,539       60.1 % Freddie Mac   2,931,039       39.9 % Total Mortgage Assets $ 7,350,578       100.0 %   Investment Company Act of 1940 Whole Pool Test   ($ in thousands)                         Percentage   Fair   of Asset Category Value   Portfolio As of July 31, 2025               Non-Whole Pool Assets $ 417,423       5.7 % Whole Pool Assets   6,933,155       94.3 % Total Mortgage Assets $ 7,350,578       100.0 %   Borrowings By Counterparty                                 ($ in thousands)                                                   Weighted   Weighted               % of   Average   Average       Total   Total   Repo   Maturity   Longest As of July 31, 2025 Borrowings   Debt   Rate   in Days   Maturity J.P. Morgan Securities LLC $ 343,768       5.0 %     4.51 %     59   10/23/2025 Mirae Asset Securities (USA) Inc.   334,110       4.9 %     4.42 %     79   11/13/2025 ASL Capital Markets Inc.   326,866       4.8 %     4.48 %     44   9/18/2025 ABN AMRO Bank N.V.   324,146       4.8 %     4.47 %     51   9/22/2025 Marex Capital Markets Inc.   307,526       4.5 %     4.47 %     28   9/25/2025 Citigroup Global Markets Inc   303,177       4.5 %     4.49 %     87   10/30/2025 Wells Fargo Bank, N.A.   301,894       4.4 %     4.49 %     14   8/14/2025 Goldman, Sachs & Co   301,322       4.4 %     4.48 %     28   8/29/2025 RBC Capital Markets, LLC   300,339       4.4 %     4.52 %     20   8/27/2025 DV Securities, LLC Repo   293,657       4.3 %     4.48 %     71   10/28/2025 ING Financial Markets LLC   292,441       4.3 %     4.49 %     48   9/17/2025 Daiwa Securities America Inc.   291,352       4.3 %     4.50 %     47   9/23/2025 Bank of Montreal   288,463       4.2 %     4.50 %     35   10/28/2025 South Street Securities, LLC   280,229       4.1 %     4.47 %     58   10/14/2025 StoneX Financial Inc.   280,050       4.1 %     4.49 %     49   9/18/2025 Clear Street LLC   278,404       4.1 %     4.48 %     44   9/22/2025 Cantor Fitzgerald & Co   277,431       4.1 %     4.50 %     27   8/27/2025 Merrill Lynch, Pierce, Fenner & Smith   260,388       3.8 %     4.51 %     22   8/25/2025 MUFG Securities Canada, Ltd.   254,861       3.7 %     4.47 %     8   8/8/2025 Mitsubishi UFJ Securities (USA), Inc.   247,115       3.6 %     4.49 %     61   10/14/2025 The Bank of Nova Scotia   243,502       3.6 %     4.49 %     54   10/23/2025 Banco Santander SA   187,018       2.7 %     4.50 %     47   9/16/2025 Nomura Securities International, Inc.   142,942       2.1 %     4.47 %     25   9/8/2025 Mizuho Securities USA LLC   136,238       2.0 %     4.52 %     28   8/28/2025 Natixis, New York Branch   104,700       1.5 %     4.49 %     28   8/29/2025 Wells Fargo Securities, LLC   73,823       1.1 %     4.48 %     89   10/28/2025 Lucid Prime Fund, LLC   34,862       0.5 %     4.50 %     14   8/14/2025 Total Borrowings $ 6,810,624       100.0 %     4.49 %     44   11/13/2025   Contact: Orchid Island Capital, Inc.Robert E. Cauley3305 Flamingo Drive, Vero Beach, Florida 32963Telephone: (772) 231-1400 The post Orchid Island Capital Announces August 2025 Monthly Dividend and July 31, 2025 RMBS Portfolio Characteristics appeared first on ForexTV.

Announced entry into an agreement to be acquired by XOMA Royalty Corporation for between $1.16 and $1.24 per share in cash, plus a contingent value right related to LAVA’s two partnered assets and unpartnered programs Consummation of acquisition expected to occur in the fourth quarter of 2025, subject to customary closing conditions and an extraordinary general meeting of shareholders Announced decision to discontinue development of LAVA-1266 for acute myeloid leukemia and myelodysplastic syndrome; wind-down of the program has been initiated UTRECHT, The Netherlands, and PHILADELPHIA, Aug. 13, 2025 (GLOBE NEWSWIRE) -- LAVA Therapeutics N.V. (NASDAQ: LVTX, “LAVA,” or the “Company”), a clinical-stage immuno-oncology company historically focused on its proprietary Gammabody® bispecific gamma delta T cell engagers, today announced financial results for the second quarter ended June 30, 2025 and provided a corporate update. “We are pleased to announce that LAVA has recently entered into a definitive agreement to be acquired by XOMA Royalty Corporation,” said Steve Hurly, Chief Executive Officer of LAVA. “This deal is the outcome of a comprehensive and diligent strategic review process by management and our Board of Directors, conducted under the guidance of our legal and financial advisors, with the objective of maximizing value for our shareholders while supporting the sustained success of LAVA’s business. Our Board of Directors has unanimously determined that the deal is in the best interests of all of our shareholders and has approved the proposed acquisition.” Entry into Share Purchase Agreement; Tender Offer On August 4, 2025, the Company announced that it has entered a definitive share purchase agreement (the “Purchase Agreement” and the transactions set forth in the Purchase Agreement, the “Transactions”) with XOMA Royalty Corporation (“XOMA”), whereby XOMA will acquire all of the issued and outstanding common shares of the Company through a cash tender offer for (i) between $1.16 and $1.24 per share in cash, consisting of (A) $1.16 per share, plus (B) an additional amount of up to $0.08 per share, plus (ii) a non-transferable contingent value right per share representing the right to receive potential contingent cash payments following the closing related to the Company’s two partnered assets as well as its unpartnered programs. Pursuant and subject to the terms of the Purchase Agreement, XOMA will commence a tender offer by August 15, 2025 to acquire all of the Company’s outstanding common shares. The closing of the Transactions is subject to customary closing conditions and is expected to close in the fourth quarter of 2025. Discontinued LAVA-1266 Program On August 4, 2025, the Company announced its plans to discontinue its Phase 1 clinical trial of LAVA-1266 for acute myeloid leukemia and myelodysplastic syndrome, and initiate the wind-down of the LAVA-1266 program. Updates Regarding Partnered Programs Johnson & Johnson (J&J) Partnered Program (JNJ-89853413) – Phase 1 Trial (NCT06618001) Designed to target CD33 and gamma delta T cells with a bispecific gamma delta T cell engager Key Indications: relapsed or refractory (R/R) acute myeloid leukemia (AML) or R/R higher-risk type of myelodysplastic neoplasms (MDS) Current Status: J&J is enrolling patients in a Phase 1, open label, multi-center trial, currently underway in Canada and Spain. The trial includes a dose escalation and dose expansion segment to evaluate JNJ-89853413 in approximately 100 adults with R/R AML or R/R higher risk type of MDS Pfizer Partnered Program (PF08046052) – Phase 1 Trial (NCT05983133) Potential first-in-class epidermal growth factor receptor (EGFR) and bispecific gamma delta T cell receptor-targeted therapy Key Indications: advanced solid tumors Current Status: Pfizer is enrolling patients in a Phase 1 open label, multi-center trial, currently underway in the US and UK. The trial is intended to evaluate PF08046052 in approximately 290 subjects Second Quarter 2025 Financial Results As of June 30, 2025, LAVA had cash, cash equivalents, and short-term investments of $56.2 million, compared to cash, cash equivalents, and short-term investments of $76.6 million as of December 31, 2024. Revenue from contracts with customers was zero for the quarters ended June 30, 2025 and 2024, respectively, and zero and $7.0 million for the six months ended June 30, 2025 and 2024, respectively. Revenue of $7.0 million received in the six months ended June 30, 2024 was comprised of a $7.0 million payment from Pfizer related to the achievement of a clinical milestone. Research and development expenses were $4.7 million and $6.0 million for the quarters ended June 30, 2025 and 2024, respectively, and $8.9 million and $11.6 million for the six months ended June 30, 2025 and 2024, respectively. The decrease in both periods was primarily due to a reduction in headcount related to restructuring activities and resulting decrease in research and development activity, with lower preclinical and clinical expenses due to the discontinuation of the LAVA-1207 program and a reduction in the estimated remaining clinical trial activities, partially offset by activities for LAVA-1266 occurring in the quarter ended June 30, 2025. General and administrative expenses were $2.6 million and $3.4 million for each of the quarters ended June 30, 2025 and 2024, respectively and $6.0 million and $6.8 million for the six months ended June 30, 2025 and 2024, respectively. The decrease reflected in both periods was due to lower headcount and an overall streamlining of administrative and operating costs related to the Company’s restructuring activities, partially offset by increased professional and consultant fees related to the Company’s transition to US GAAP reporting as well as increased severance payments related to the Company’s restructuring action in February 2025. Other income (expense), net was a $1.3 million other expense, net and $1.2 million other income, net for the quarters ended June 30, 2025 and 2024, respectively, with other income, net of $3.1 million and $2.7 million for the six months ended June 30, 2025 and 2024, respectively. For the three months ended June 30, 2025 and 2024, the decrease is primarily due to foreign exchange loss, due to fluctuations in the US dollar currency rate compared to the Euro, as well as lower interest rates for cash held in money market accounts, partially offset by lower interest expense incurred as the Company’s outstanding innovation credit from Rijksdienst voor Ondernemend Nederland (RVO) was forgiven in March 2025. Forgiveness of the RVO credit balance also increased other income, net for the six months ended June 30, 2025. Net loss was $8.6 million and $8.3 million for the quarters ended June 30, 2025 and 2024, respectively, or $0.32 and $0.31 net loss per share, respectively, and $12.1 million and $8.9 million, or $0.45 or $0.33 net loss per share, for the six months ended June 30, 2025 and 2024, respectively. LAVA Therapeutics N.V. Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) (In thousands, except share and per share amounts)                                 Three Months Ended   Six Months Ended     June 30,    June 30,      2025     2024     2025     2024   Revenue:                         Revenue from contracts with customers   $ —     $ —     $ —     $ 6,992   Total revenue     —       —       —       6,992   Cost and expenses:                         Research and development     (4,739 )     (5,958 )     (8,895 )     (11,606 ) General and administrative     (2,550 )     (3,435 )     (5,982 )     (6,816 ) Total cost and expenses     (7,289 )     (9,393 )     (14,877 )     (18,422 ) Operating loss     (7,289 )     (9,393 )     (14,877 )     (11,430 ) Other (expense) income, net                         Interest income     607       968       1,320       1,938   Interest expense     —       (129 )     (129 )     (259 ) Foreign currency exchange (loss) gain, net     (1,885 )     340       (3,338 )     997   Gain on extinguishment of borrowings     —       —       5,203       —   Total other (expense) income, net     (1,278 )     1,179       3,056       2,676   Net loss before taxes     (8,567 )     (8,214 )     (11,821 )     (8,754 ) Income tax expense     (72 )     (86 )     (297 )     (154 ) Net loss   $ (8,639 )   $ (8,300 )   $ (12,118 )   $ (8,908 ) Other comprehensive income (loss):                         Foreign currency translation adjustment     2,349       (424 )     3,327       (1,471 ) Comprehensive loss   $ (6,290 )   $ (8,724 )   $ (8,791 )   $ (10,379 )                           Net loss per share, basic and diluted   $ (0.32 )   $ (0.31 )   $ (0.45 )   $ (0.33 ) Weighted-average common shares outstanding, basic and diluted     26,899,122       26,822,139       26,894,666       26,807,760                             LAVA Therapeutics N.V. Condensed Consolidated Balance Sheets (Unaudited) (In thousands, except par value and share data)                 June 30,   December 31,   2025     2024   Assets           Current assets:           Cash and cash equivalents $ 26,380     $ 35,015   Short-term investments   29,789       41,561   Prepaid expenses   1,922       1,072   Other current assets   2,404       1,649   Total current assets   60,495       79,297   Property and equipment, net   43       1,002   Operating lease right-of-use assets   —       441   Other non-current assets   9       91   Total assets $ 60,547     $ 80,831   Liabilities and shareholders' equity           Current liabilities:           Accounts payable $ 1,428     $ 2,722   Accrued expenses and other current liabilities   4,184       10,083   Borrowings   —       4,886   Current portion of operating lease liabilities   —       315   Total current liabilities   5,612       18,006   Non-current portion of deferred revenue   35,000       35,000   Non-current portion of operating lease liabilities   —       80   Total liabilities   40,612       53,086   Shareholders' equity:           Common shares   3,717       3,717   Additional paid-in capital   212,637       211,656   Accumulated deficit   (187,091 )     (174,973 ) Accumulated other comprehensive loss   (9,328 )     (12,655 ) Total shareholders' equity   19,935       27,745   Total liabilities and shareholders' equity $ 60,547     $ 80,831     About LAVA Therapeutics LAVA Therapeutics N.V. is a biopharmaceutical company that has developed several clinical-stage bispecific gamma delta T cell engagers using its proprietary Gammabody® platform, including JNJ-89853413, targeting CD33 and hematologic cancers (NCT06618001), partnered with Johnson & Johnson, and PF-08046052, targeting EGFR and solid tumors (NCT05983133), partnered with Pfizer, Inc. For more information on LAVA, please visit www.lavatherapeutics.com. Gammabody® is a registered trademark of LAVA Therapeutics N.V. LAVA’s Cautionary Note on Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “anticipate”, “believe”, “could”, “will”, “may”, “expect”, “should”, “plan”, “intend”, “estimate”, “potential”, “suggests”, and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. Forward-looking statements in this press release include, but are not limited to, statements regarding: the expected timing and ability of the parties to complete the consummation of the transactions contemplated by the Offer, the Purchase Agreement and the CVR Agreement (the “Transactions”) including the parties' ability to satisfy the conditions as to the consummation of the tender offer and the other conditions to the consummation of the Transactions; LAVA’s ability to achieve the closing net cash amount as set forth in the Purchase Agreement; management’s belief that the Transactions will maximize shareholder value; the perceived benefits of the Transactions; and the potential payment of proceeds to the Company’s shareholders, including pursuant to the CVR Agreement, if any. These forward-looking statements are based on LAVA’s expectations and assumptions as of the date of this press release and are subject to various risks and uncertainties that may cause actual results to differ materially from these forward-looking statements. As a result, a number of important factors could cause actual results to differ materially from those indicated by such forward-looking statements, including: the risk that the Transactions may not be completed in a timely manner, or at all, which may adversely affect LAVA’s business and the price of its common shares; the delay or failure of the conditions of the Offer to be satisfied (or waived), including insufficient common shares of LAVA being tendered in the Offer; the possibility that competing offers will be made; significant costs associated with the Transactions; the risk that any shareholder or other litigation in connection with the Transactions may result in significant costs of defense, indemnification and liability; the risk that activities related to the CVR Agreement may not result in any value to LAVA’s shareholders; the possibility that prior to the completion of the Transactions, LAVA’s or XOMA’s business may experience significant disruptions due to transaction-related uncertainty; the effects of disruption from the transactions in LAVA’s business and the fact that the announcement and pendency of the Transactions may make it more difficult to establish or maintain relationships with employees, manufacturers, suppliers, vendors or business partners; the occurrence of any event, change or other circumstance that could give rise to the termination of the Purchase Agreement; as well as potential adverse effects on LAVA’s business condition and results from general economic and market conditions and overall fluctuations in the United States and international equity markets, including as a result of inflation, heightened interest rates, recent and potential future pandemics and other health crises, and hostilities, including the Russian invasion of Ukraine and the conflict in the Middle East. These and other risks are described in greater detail under the caption “Risk Factors” in LAVA’s most recent Annual Report on Form 10-K and other filings LAVA makes with the U.S. Securities and Exchange Commission (the “SEC”). LAVA assumes no obligation to update any forward-looking statements contained herein whether as a result of any new information, future events, change in expectations or otherwise, except as otherwise required by law. Additional Information and Where to Find ItThe tender offer for LAVA’s outstanding common shares described above has not commenced and this press release is neither a recommendation, nor an offer to purchase nor a solicitation of an offer to sell any of LAVA’s common shares or any other securities of LAVA. At the time the tender offer is commenced, XOMA will file or cause to be filed a Tender Offer Statement on Schedule TO, including an offer to purchase, with the SEC, and LAVA will file a Solicitation/Recommendation Statement on Schedule 14D-9 with the SEC related to the tender offer. The offer to purchase the outstanding LAVA’s outstanding common shares will only be made pursuant to the offer to purchase, the letter of transmittal and related documents filed as a part of the Schedule TO. LAVA also plans to file a proxy statement in connection with an extraordinary general meeting of shareholders at which LAVA shareholders will vote on certain proposed resolutions (the “EGM Proposals”) in connection with the transactions referenced herein, and will mail the definitive proxy statement and a proxy card to each shareholder entitled to vote at the extraordinary general meeting. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE PROXY STATEMENT REGARDING THE EXTRAORDINARY GENERAL MEETING AND THE TENDER OFFER MATERIALS (INCLUDING THE OFFER TO PURCHASE, A LETTER OF TRANSMITTAL AND RELATED DOCUMENTS) AND THE SOLICITATION/RECOMMENDATION STATEMENT ON SCHEDULE 14D-9 REGARDING THE OFFER, AS THEY MAY BE AMENDED OR SUPPLEMENTED FROM TIME TO TIME, WHEN THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION THAT INVESTORS AND SECURITY HOLDERS SHOULD CONSIDER BEFORE MAKING ANY DECISION REGARDING TENDERING THEIR SHARES (INCLUDING THE TERMS AND CONDITIONS OF THE OFFER) OR MAKING ANY VOTING DECISION FOR THE EXTRAORDINARY GENERAL MEETING. Investors and security holders may obtain a free copy of these statements (when available) and other documents filed with the SEC at the website maintained by the SEC at www.sec.gov or by directing such requests to the information agent for the offer, which will be named in the tender offer statement. Investors and security holders may also obtain, at no charge, the documents filed or furnished to the SEC by LAVA under the “SEC Filings” subsection of the “Financials & Filings” section of LAVA’s website at https://ir.lavatherapeutics.com or by accessing the Investor Relations sections of XOMA Royalty’s website at https://www.investors.xoma.com. CONTACTSInvestor Relationsir@lavatherapeutics.com LifeSci Advisors (IR/Media)Joyce AllaireJallaire@lifesciadvisors.com The post LAVA Reports Second Quarter 2025 Financial Results and Provides Corporate Update appeared first on ForexTV.

AUSTIN, Texas, Aug. 13, 2025 (GLOBE NEWSWIRE) -- Astrotech Corporation (Nasdaq: ASTC) (the “Company” or “Astrotech”) today announced that Thomas B. Pickens III, Chairman and Chief Executive Officer, and Jennifer Cañas, Chief Financial Officer, will host investor meetings on Tuesday, September 9, 2025 as part of the H.C. Wainwright 27th Annual Global Investment Conference in New York City taking place at the Lotte New York Palace Hotel. Investors can register and request meetings with management via their HC Wainwright representative or Astrotech Investor Relations at mkreps@darrowir.com. About Astrotech Corporation Astrotech Corporation is a mass spectrometry company that creates, operates, and scales innovative businesses through its wholly owned subsidiaries. Each subsidiary leverages Astrotech’s core technology to serve specialized markets: 1st Detect develops, manufactures, and markets trace detection systems for security and narcotics screening applications. AgLAB designs process analyzers tailored to the agriculture industry. Pro-Control produces solutions for in-situ chemical process control in industrial manufacturing. BreathTech is advancing a breath analysis platform to detect volatile organic compounds (VOCs) associated with infections and critical health conditions. EN-SCAN, Inc. delivers portable, ruggedized environmental testing solutions that integrate gas chromatography and mass spectrometry for use in challenging field environments. Astrotech is headquartered in Austin, Texas. To learn more, visit www.astrotechcorp.com. Company Contact: Jennifer CañasChief Financial Officer, Astrotech Corporation (512) 485-9530 Investor Contact: Matt KrepsManaging Director, Darrow Associates (214) 597-8200 mkreps@darrowir.com The post Astrotech to Participate in the H.C. Wainwright 27th Annual Global Investment Conference in September 2025 appeared first on ForexTV.

SHOUGUANG, China, Aug. 13, 2025 (GLOBE NEWSWIRE) -- Gulf Resources, Inc. (Nasdaq: GURE) (“Gulf Resources,” “we,” or the “Company”), a leading manufacturer of bromine, crude salt and specialty chemical products in China today announced its unaudited financial results for the three months ended June 30, 2025. The company reported: Net Revenue increased by 250% to $8,343,785 from $2,383,169 in the previous year. Gross profits increased to $986,655 from a loss of $2,728,889. The loss from operations was $750,686 compared to a loss of $5,146,997. The net loss was $773,777 versus a net loss of $33,097,918 in the previous period. The Loss per share was $0.06 versus a loss of $3.09 in the previous period. Negative cash flow for the 6 months of 2025 was sharply reduced from $61,856,355 to $2,339,081. On a segment basis Bromine Bromine sales increased by 313% to $7,676,374 from $1,859,234. Volume increased by 152% to 1,972 tonnes from 782 tonnes. Cost of net revenue increased by 48% to $7,016,815 from $4,729,059 . Gross profit was $659,559 versus a loss of $2,869,825 in the previous period. Net loss for the quarter was $130,381 versus a net loss of $4,662,586 in the previous year. Crude Salt Crude Salt revenues increased by 27% to $667,411 from $ 523,935. Volume increased by 4% to 25,934 tonnes from 24,852 tonnes. Cost of revenue declined by 11% to $340,315 from $382,999. Gross profit increased by 132% to $327,096 from $ 140,936. Net loss for the quarter was $147,489 versus a profit of $130,024 in the previous year. Chemicals & Natural gas, neither of which was operational, combined lost $388,202 vs. a loss of $413,027 in the previous year. Updates on Current Business During the three months ended June 30, 2025, bromine pricing exhibited significant volatility. On March 31, 2025, the last day of the first quarter of 2025, the price of bromine was RMB 29,000 per tonne. By April 14, bromine had reached a price of RMB 37,500 per tonne. By May 14, the price of bromine had declined to RMB 23,100 per tonne. At the end of the second quarter, bromine was priced at RMB 24,686 per tonne. Since the end of the second quarter, bromine prices have increased consistently to RMB 29,200 per tonne on August 12. The Company anticipates that this price recovery, coupled with increasing overall demand, represents a potentially sustainable market trend. (Source: sunsirs.com) The Company has initiated development activities on the crude salt fields acquired in the prior year. These assets are expected to enhance both salt and bromine production capacity and may facilitate the reopening of manufacturing facilities #2 and #10, which remain temporarily closed. The chemicals segment operations remain suspended pending improved market conditions. Given the challenging profitability environment faced by many chemical manufacturers, management has elected to defer completion of the remaining chemical factory construction until market conditions present opportunities for sustainable profitability. Natural gas operations also remain inactive while awaiting completion of provincial planning initiatives in Sichuan Province. Given China's increasing natural gas demand, the Company continues monitoring regulatory developments and evaluating potential joint venture opportunities in this sector. Mr. Liu Xiaobin, the CEO and Chairman of Gulf Resources, stated, “We are becoming more optimistic about our business. We see signs of stabilization in the Chinese economy. Many of our competitors in bromine and crude salt have closed their factories. Demand is increasing as are prices. These conditions auger well for the third quarter and coming quarters. We should start to see benefits from the acquisition of the new salt fields.” “We continue to believe,” Mr. Liu continued, “that we will find opportunities in chemicals and natural gas. However, right now, we are focused on generating profits and free cash flow from our bromine and crude salt segments, and confident that this will occur in the near future.” GULF RESOURCES, INC.  AND SUBSIDIARIESCONDENSED CONSOLIDATED BALANCE SHEETS(Expressed in U.S. dollars)                       June 30, 2025(Unaudited)   December 31, 2024(Audited) Current Assets                 Cash   $ 7,736,081     $ 10,075,162   Accounts receivable, net     3,150,850       564,523   Inventories, net     515,013       315,371   Prepayments and deposits     8,743,324       6,376,656   Amount due from related parties     25,144       25,040   Other receivable     105,564       94,074   Total Current Assets     20,275,976       17,450,826   Non-Current Assets                 Property, plant and equipment, net     128,694,551       136,143,177   Finance lease right-of use assets     74,668       76,868   Operating lease right-of-use assets     5,937,515       6,169,855   Prepaid land leases, net of current portion     9,648,863       9,615,269   Deferred tax assets, net     —       —   Total non-current assets     144,355,597       152,005,169   Total Assets   $ 164,631,573     $ 169,455,995                     Liabilities and Stockholders’ Equity                 Current Liabilities                 Accounts payable and accrued expenses   $ 11,551,878     $ 14,323,458   Taxes payable-current     298,037       113,999   Advance from customer     —       —   Amount due to related parties     2,589,489       2,584,808   Finance lease liability, current portion     188,550       217,743   Operating lease liabilities, current portion     162,134       491,850   Total Current Liabilities     14,790,088       17,731,858   Non-Current Liabilities                 Finance lease liability, net of current portion     891,801       1,075,865   Operating lease liabilities, net of current portion     6,734,859       6,941,602   Total Non-Current Liabilities     7,626,660       8,017,467   Total Liabilities   $ 22,416,748     $ 25,749,325                     Commitment and Loss Contingencies   $ —     $ —                     Stockholders’ Equity                 PREFERRED STOCK; $0.001 par value; 1,000,000 shares authorized; none outstanding   $ —     $ —   COMMON STOCK; $0.0005 par value; 80,000,000 shares authorized; 13,632,448 and 11,012,754 shares issued; and 13,346,618 and 10,726,924 shares outstanding as of June 30, 2025 and December 31, 2024     25,934       24,623   Treasury stock; 285,830 shares as of June 30, 2025 and December 31, 2024 at cost     (1,372,673 )     (1,372,673 ) Additional paid-in capital     105,167,292       101,688,262   Share to be issued     —       194,700   Retained earnings unappropriated     31,955,527       37,358,804   Retained earnings appropriated     26,667,097       26,667,097   Accumulated other comprehensive income     (20,228,352 )     (20,854,143 ) Total Stockholders’ Equity     142,214,825       143,706,670   Total Liabilities and Stockholders’ Equity   $ 164,631,573     $ 169,455,995                     GULF RESOURCES, INC.AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF LOSS AND COMPREHENSIVE LOSS(Expressed in U.S. dollars)(UNAUDITED)                                             Three-Month Period Ended June 30,   Six-Month Period Ended June 30,     2025   2024   2025   2024                   NET REVENUE   $ 8,343,785     $ 2,383,169     $ 9,948,232     $ 3,690,231                                     OPERATING COSTS AND EXPENSE                                 Cost of net revenue     (7,357,130 )     (5,112,058 )     (8,951,400 )     (7,231,903 ) Sales and marketing expenses     (14,802 )     (13,633 )     (19,855 )     (18,124 ) Direct labor and factory overheads incurred during plant shutdown     (727,774 )     (1,714,503 )     (3,953,582 )     (5,449,192 ) General and administrative expenses     (994,765 )     (689,972 )     (2,384,288 )     (1,407,428 )                                   TOTAL OPERATING COSTS AND EXPENSE     (9,094,471 )     (7,530,166 )     (15,309,125 )     (14,106,647 )                                   LOSS FROM OPERATIONS     (750,686 )     (5,146,997 )     (5,360,893 )     (10,416,416 )                                   OTHER INCOME (EXPENSE)                                 Interest expense     (21,674 )     (24,814 )     (43,396 )     (49,644 ) Interest income     1,795       34,791       4,224       70,851   Other expense, net     (3,212 )     —       (3,212 )     (4,003 ) Loss on disposal of property, plant and equipment     —       (29,169,008 )     —       (29,169,008 )                                   Loss before taxes     (773,777 )     (34,306,028 )     (5,403,277 )     (39,568,220 )                                   INCOME TAX BENEFIT (EXPENSE)     —       1,208,110       —       2,478,170   NET LOSS   $ (773,777 )   $ (33,097,918 )   $ (5,403,277 )   $ (37,090,050 )                                   COMPREHENSIVE LOSS                                 NET LOSS   $ (773,777 )   $ (33,097,918 )   $ (5,403,277 )   $ (37,090,050 ) - Foreign currency translation adjustments     403,775       (849,254 )     625,791       (1,243,121 ) TOTAL COMPREHENSIVE LOSS   $ (370,002 )   $ (33,947,172 )   $ (4,777,486 )   $ (38,333,171 )                                   BASIC AND DILUTED LOSS PER SHARE:   $ (0.06 )   $ (3.09 )   $ (0.43 )   $ (3.46 )                                   BASIC AND DILUTED WEIGHTED AVERAGE NUMBER OF SHARES:     13,346,618       10,726,924       12,520,613       10,726,924                                     GULF RESOURCES, INC.AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(Expressed in U.S. dollars)(UNAUDITED)                                       Six-Month Period Ended June 30,     2025   2024           CASH FLOWS FROM OPERATING ACTIVITIES                 Net Loss   $ (5,403,277 )   $ (37,090,050 ) Adjustments to reconcile net loss to net cash provided by (used in) operating activities:                 Amortization on capital lease     43,396       49,644   Depreciation and amortization     7,997,410       9,467,311   Deferred tax asset     —       (2,511,394 ) Stock-based compensation expense     196,100       —   Amortization of right-of-use asset     435,102       440,030   Loss on disposal of equipment     —       29,169,008   Changes in assets and liabilities:                 Accounts receivable     (2,574,907 )     3,108,788   Inventories     (197,631 )     160,396   Prepayments and deposits     (2,331,871 )     68,895   Advance from customers     —       (27,000 ) Other receivables     (11,447 )     4,854   Accounts and Other payable and accrued expenses     268,175       (2,583,610 ) Amount due to related Parties     —       —   Taxes payable     182,919       (315,782 ) Lease Liabilities     (743,404 )     (753,231 ) Net cash used in operating activities     (2,139,435 )     (812,141 )                   CASH FLOWS FROM INVESTING ACTIVITIES                 Purchase of property, plant and equipment     —       (60,526,213 ) Net cash provided by (used in) investing activities     —       (60,526,213 )                   CASH FLOWS FROM FINANCING ACTIVITIES                 Repayment of finance lease obligation     (260,997 )     (264,094 ) Net cash used in financing activities     (260,997 )     (264,094 )                   EFFECTS OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS     61,351       (253,907 ) NET DECREASE IN CASH AND CASH EQUIVALENTS     (2,339,081 )     (61,856,355 ) CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD     10,075,162       72,223,894   CASH AND CASH EQUIVALENTS - END OF PERIOD   $ 7,736,081     $ 10,367,539   GULF RESOURCES, INC.AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (CONTINUED)(Expressed in U.S. dollars)               Years Ended June 30,     2025   2024 SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION                 Cash paid during the six-month period ended June 30, 2025 for:                 Paid for taxes   $ 811,828     $ 886,928   Interest on finance lease obligation   $ 43,396     $ 49,644   SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES                                   About Gulf Resources, Inc.Gulf Resources, Inc. operates through four wholly-owned subsidiaries, Shouguang City Haoyuan Chemical Company Limited (“SCHC”), Shouguang Yuxin Chemical Industry Co., Limited (“SYCI”), Daying County Haoyuan Chemical Company Limited (“DCHC”) and Shouguang Hengde Salt Industry Co. Ltd. (“SHSI”). The Company believes that it is one of the largest producers of bromine in China. Elemental Bromine is used to manufacture a wide variety of compounds utilized in industry and agriculture. Through SYCI, the Company manufactures chemical products utilized in a variety of applications, including oil and gas field explorations and papermaking chemical agents, and materials for human and animal antibiotics. Through SHSI, the Company manufactures and sells crude salt. DCHC was established to further explore and develop natural gas and brine resources (including bromine and crude salt) in China. For more information, visit www.gulfresourcesinc.com. Forward-Looking StatementsCertain statements in this news release contain forward-looking information about Gulf Resources and its subsidiaries business and products within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. The actual results may differ materially depending on a number of risk factors including, but not limited to, the general economic and business conditions in the PRC, the risks associated with the COVID-19 pandemic outbreak, future product development and production capabilities, shipments to end customers, market acceptance of new and existing products, additional competition from existing and new competitors for bromine and other oilfield and power production chemicals, changes in technology, the ability to make future bromine asset purchases, and various other factors beyond its control. All forward-looking statements are expressly qualified in their entirety by this Cautionary Statement and the risks factors detailed in the Company's reports filed with the Securities and Exchange Commission. Gulf Resources undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release. CONTACT: beishengrong@vip.163.com The post Gulf Resources, Inc. Announces Second Quarter 2025 Unaudited Financial Results appeared first on ForexTV.

FUKUOKA, Japan, Aug. 13, 2025 (GLOBE NEWSWIRE) -- rYojbaba Co., Ltd. (“rYojbaba” or the “Company”), a Japanese labor consulting and health services company, today announced the pricing of its initial public offering of 1,250,000 Japanese common shares at US$4.00 per share. The Japanese common shares are expected to begin trading on the Nasdaq Capital Market on August 14, 2025, under the ticker symbol "RYOJ". Gross proceeds of the offering before deducting underwriting discounts and other offering expenses are expected to be US$5 million. The offering is expected to close on August 15, 2025, subject to customary closing conditions. In addition, rYojbaba has granted the underwriters a 45-day option to purchase up to an additional 187,500 Japanese common shares at the initial offering price, less underwriting discounts to cover over-allotments, if any. rYojbaba intends to use the net proceeds from the offering primarily for working capital and general corporate purposes, which may include implementation and development of an information technology (IT) platform for our labor consulting services, hiring of additional consultants and an expansion abroad of consulting business as well as an expansion of the osteopathic clinics and beauty salons through mergers and acquisitions and franchising. D. Boral Capital LLC (“D. Boral”) is acting as the sole book-running manager for the offering. Anthony, Linder & Cacomanolis, PLLC is acting as U.S. legal counsel to rYojbaba and Bevilacqua PLLC is acting as U.S. legal counsel to D. Boral for the offering. A registration statement on Form F-1, as amended (File No. 333-281225), relating to these securities was filed with the Securities and Exchange Commission ("SEC") and was declared effective by the SEC on July 31, 2025. This offering is being made only by means of a prospectus. A final prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Copies of the final prospectus related to the Offering may be obtained, when available, from D. Boral Capital LLC, 590 Madison Ave., 39th Floor, New York, NY 10022, by telephone: (212) 970-5150, or by email at: info@dboralcapital.com. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these Japanese common shares in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About rYojbaba Co., Ltd. rYojbaba operates a labor consulting and health services business. The labor consulting business provides strategic consulting services for both Japanese companies and labor unions, with the underlying goal to bridge the gap between Japan’s labor culture issues and the lack of solutions for work-related dissatisfactions. rYojbaba also operates 28 osteopathic clinics and 2 beauty salons across Japan within its health services business, primarily offering judo theory, a form of osteopathic medicine practiced in Japan. To learn more, visit https://www.ryojbaba.com/. Forward-Looking StatementsCertain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations, including the timing of the trading of its Japanese common shares or the closing of the offering. Investors can find many (but not all) of these statements by the use of words such as "approximates," "believes," "hopes," "expects," "anticipates," "estimates," "projects," "intends," "plans," "will," "would," "should," "could," "may" or other similar expressions. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct. The Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to read the risk factors contained in the Company’s final prospectus and other reports it files with the SEC before making any investment decisions regarding the Company’s securities. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Investor RelationsJohn Yi and Steven ShinmachiGateway Group, Inc.949-574-3860RYOJ@gateway-grp.com The post rYojbaba Co., Ltd. Announces Pricing of $5 Million Initial Public Offering of Japanese Common Shares and Listing on Nasdaq appeared first on ForexTV.

TEMECULA, Calif., Aug. 13, 2025 (GLOBE NEWSWIRE) -- Nufactor®, a specialty infusion company and subsidiary of FFF Enterprises, Inc., is pleased to announce the names of its 2025 Eric Dostie Memorial College Scholarship recipients. The annual scholarship program — now in its 31st year — grants 10 awards of $1,000 each to qualifying students affected by bleeding disorders who can best demonstrate scholastic achievement, community service, and financial need. Congratulations to the 2025 Eric Dostie Memorial College Scholarship recipients: Christopher Ambrosio, Lynbrook, NY Emily Alvarez Huerta, Fresno, CA Eva Brandon-Sanchez, Lafayette, OR Jocelyn Doerr, Blandon, PA Karissa Doerr, Blandon, PA James Hensley, Manhattan, KS Luke Luckey, Manchester, MI Kathryn Morrison, Zelienople, PA Caitlyn Myers, Logan, OH Rose Penwell, Jenison, MI The scholarship was created to honor the memory of 5-year-old Eric Dostie, a boy with hemophilia who was tragically murdered on August 27, 1994. Awards provide financial assistance to students who meet scholarship qualifications and who have hemophilia (or a similar bleeding disorder) and/or a family member with a bleeding disorder. Applicants submitted an essay describing how their education will be used to serve others and to encourage self-improvement and enrichment. “We’re eternally grateful to have been able to assist in a small way by helping with educational expenses for young students living with a chronic bleeding disorder,” said Patrick M. Schmidt, chief executive officer of FFF Enterprises. “Eric’s life was tragically cut short by the fear of an economic burden on a family associated with caring for a child diagnosed with hemophilia. We hope that each of this year’s inspirational winners takes a moment to reflect on Eric’s memory, as this small blessing serves as a tribute to his legacy. May Eric’s story continue to touch us as deeply today as it did 31 years ago.” Online applications for the 2026 Eric Dostie Memorial College Scholarship may be submitted online starting Tuesday, Nov. 4, 2025. The last day to apply will be Tuesday, Feb. 17, 2026. Winners will be announced in May 2026. Visit the Nufactor Eric Dostie Memorial College Scholarship website to learn more. About Nufactor, Inc. Nufactor, Inc. is a specialty infusion company and subsidiary of FFF Enterprises, Inc., the largest and most trusted specialty pharmaceutical distributor and diversified healthcare organization. Established in 1995, Nufactor offers safe, convenient, and reliable home infusion solutions for patients receiving immunoglobulin, plasminogen, antihemophilic factor, and infliximab. Nufactor has earned The Joint Commission’s Gold Seal of Approval®, URAC’s Specialty Pharmacy Accreditation, and is a URAC Certified Rare Disease Pharmacy Center of Excellence. Please visit LinkedIn, Instagram, Facebook, and YouTube for more information about the company. About FFF Enterprises, Inc. Founded in 1988, FFF Enterprises, Inc. is a privately held, multibillion-dollar specialty pharmaceutical distributor and diversified healthcare organization. FFF Enterprises is the parent company to leading specialty infusion company Nufactor, Inc., as well as InCircle, LLC and RightNow Inventory™. Our partners include global pharmaceutical and biologics manufacturers, prestigious healthcare systems, large and independent retail pharmacies, and leading alternate care sites. Our nationwide commerce is supported by a network of distribution and infusion pharmacy locations utilizing world-class technology and cybersecurity solutions. Please visit FFF Enterprises’ news site, as well as LinkedIn, X, Facebook, Instagram, and YouTube for more information about the company. Attachment 2025 Winners of the 31st-Annual Eric Dostie Memorial College Scholarship Announced CONTACT: Michelle Valenzuela FFF Enterprises.com (951) 296-2528 ext 1410 mvalenzuela@fffenterprises.com The post 2025 Winners of the 31st-Annual Eric Dostie Memorial College Scholarship Announced appeared first on ForexTV.

PHOENIX, Aug. 13, 2025 (GLOBE NEWSWIRE) -- Global Water Resources, Inc. (NASDAQ: GWRS), a pure-play water resource management company, reported results for the second quarter ended June 30, 2025. All comparisons are to the same year-ago period unless otherwise noted. The company will hold a conference call at 1:00 p.m. Eastern time tomorrow to discuss the results (see dial-in information below). Q2 2025 Financial Highlights Total revenue increased 5.4% to $14.2 million, primarily due to organic connection growth, increased consumption and higher rates. Net income decreased to $1.6 million or $0.06 per share from $1.7 million or $0.07 per share. One of the primary drivers of this decline is due to the company’s capital improvement plan, which has resulted in a related increase in depreciation expense. Adjusted EBITDA, a non-GAAP term, increased 2.1% to $6.9 million (see definition of adjusted EBITDA and its reconciliation to GAAP, below). Extended maturity date of revolving credit facility to May 18, 2027 and increased principal amount available for borrowing from $15 million to $20 million. Declared three monthly cash dividends of $0.02533 per common share or $0.30396 per common share on an annualized basis. Q2 2025 Operational Highlights Total active service connections at June 30, 2025 increased 3.8% to 65,639. Water consumption increased 8.2% to 1.2 billion gallons. Invested $20.2 million in infrastructure projects to support existing utilities and continued growth. The Arizona Corporation Commission (ACC) issued Decision No. 80695 for Global Water – Farmers Water Company, Inc. (GW-Farmers). The new rates are expected to generate an approximately $1.1 million increase in annual revenue once fully phased in. GW-Farmers will implement the rate increase in three stages, which began on May 1, 2025. Other Highlights In July, the company completed its previously announced acquisition of seven water systems from Tucson Water, the City of Tucson’s water utility. The assets were acquired at a value equivalent to approximately 1.05 times the current rate base of approximately $7.7 million and are expected to generate approximately $1.5 million in revenue annually. On July 1, 2025, the U.S. Census Bureau population projections estimated the City of Maricopa was the 6th fastest growing large city (population over 50,000) in the country, with a 2024 population increase of 7.4%. This demonstrates even faster population growth than 2023, which was 7.1%. Management Commentary “In Q2, our top-line growth was primarily driven by organic connection growth, increased consumption and successful rate case strategy,” commented Global Water Resources President and CEO Ron Fleming. “During the quarter, we received approval of our GW-Farmers general rate case, which started with 50% of the approved rate increase becoming effective on May 1, 2025, with subsequent increases to follow. The additional revenue will support our efforts to improve GW-Farmers for the benefit of its customers and the broader Sahuarita community. “We are very pleased with the Arizona Department of Transportation’s recent decision to include State Route 347 improvements in its $11.6 billion five-year plan, which we believe is a major milestone for the region and a catalyst for sustainable growth. Specifically, as construction activity accelerates on State Route 347, we expect this could drive expanded residential and commercial development resulting in an increase in demand for water, wastewater and recycled water services throughout the City of Maricopa and all of western Pinal County. “Looking ahead, we believe Arizona’s Senate Bill 1611, the new ‘ag-to-urban’ bill signed into law last month, will support water management, economic development, and housing accessibility in our areas when it becomes effective on September 26, 2025. According to the Arizona Department of Water Resources, up to 384,000 acres of agricultural land in the Phoenix and Pinal Active Management Areas are eligible for ag-to-urban conversion — an area with the potential to support over 1 million new homes. “Our general rate case for GW-Santa Cruz and GW-Palo Verde is proceeding as planned, with testimony and a hearing expected to commence in the fourth quarter of 2025. This process will determine our go-forward customer rates for our two largest utilities around mid-2026. We are seeking approximately $6.5 million in additional net annual revenue above 2024 test year levels to maintain the high-quality water and wastewater services we provide. “Until our current Pinal County utilities’ rate case is completed, the vast majority of our revenue is based on rates set from a 2019 test year. Further, based on the typical regulatory practice of allowing one year of post test year plant by the ACC, the capital investments we make in 2025 will be included in the current rate case. We expect appropriate rates that capture these items at the anticipated completion of the rate case. We remain confident in our ability over time to deliver a strong total return to our shareholders while delivering safe, reliable service and balancing customer affordability as we navigate rate cases, especially when considering all the highlights reported in this earnings release. “We are optimistic that Arizona's strong economic outlook has the potential to support the growth of our organic connections. With employment expected to rise by 478,000 jobs through 2032—an annual growth rate of 1.4%, outpacing the national average—Arizona is on an upward trajectory. Last year alone, the state received $50 billion in investment commitments, with major contributions from industry leaders such as Taiwan Semiconductor, Intel, and Procter & Gamble. Just last quarter, TSMC announced an extra $100 billion expansion in Metro Phoenix, bringing its planned investment to $165 billion—the largest direct foreign investment in U.S. history. In addition, earlier this year, Apple announced plans to invest billions in Arizona. These unprecedented investment commitments are expected to significantly reshape the Metro Phoenix area. “As the year advances, we aim to further extend the benefits of consolidation, regionalization, and proactive environmental management to the communities we serve. By executing our rate case strategy alongside our anticipation of ongoing organic growth, we believe we are well positioned for continued success over the long-term.” Financial Summary Revenue   Three Months Ended Favorable (Unfavorable)   June 30, 2025 vs. 2024     2025   2024 $ % Water service $ 7,368 $ 6,668 $ 700 10.5 % Wastewater and recycled water service   6,873   6,842   31 0.5 % Total regulated revenue   14,241   13,510   731 5.4 % Total revenue $ 14,241 $ 13,510 $ 731 5.4 %   The increase in regulated revenue for the three months ended June 30, 2025 was primarily attributable to the organic growth in active water and wastewater connections, increased water and recycled water consumption, higher rates for GW-Saguaro, resulting from the GW-Saguaro general rate case, effective July 2024 and January 2025, and higher rates for GW-Farmers resulting from the GW-Farmers general rate case, effective May 1, 2025. The increased consumption was predominantly driven by the increase in active connections and higher usage from irrigation and construction customers. The increase in wastewater and recycled water service revenue was partially offset by $0.2 million in bill credits related to the company's Southwest Plant, which were effective beginning August 2024. Operating Expenses   Three Months Ended Favorable (Unfavorable)   June 30, 2025 vs. 2024   2025 2024 $ % Personnel costs - operations and maintenance $ 1,356   $ 1,184 $ (172 ) (14.5) % Utilities, chemicals and repairs   1,183     1,084   (99 ) (9.1) % Other operations and maintenance expenses   1,378     1,217   (161 ) (13.2) % Total operations and maintenance expense   3,917     3,485   (432 ) (12.4) % Personnel costs - general and administrative   2,236     2,185   (51 ) (2.3) % Professional fees   441     482   41   8.5 % Other general and administrative expenses   1,710     1,565   (145 ) (9.3) % Total general and administrative expense   4,387     4,232   (155 ) (3.7) % Depreciation and amortization   3,317     2,996   (321 ) (10.7) % Total operating expenses $ 11,621   $ 10,713 $ (908 ) (8.5) %   Operations and Maintenance Higher personnel costs were primarily attributable to increased salaries and wages as a result of filling previously vacant positions as well as increased medical costs. The increase in other operations and maintenance expenses was primarily driven by additional contracts with IT service providers and one-time costs related to wastewater disposal. General and Administrative The increase in other general and administrative expenses was primarily attributable to higher costs associated with various service providers. Depreciation and Amortization The increase for the three months ended June 30, 2025, as compared to the three months ended June 30, 2024 was substantially attributable to an increase in depreciable fixed assets as well as additional amortization from a new office lease in Pima County in December 2024. Other Expense Other expense totaled $0.4 million for the three months ended June 30, 2025, compared to $0.5 million for the same period in 2024. The decrease in other expense was substantially attributable to higher income associated with Buckeye growth premiums of $0.1 million that resulted from an increase in new meter connections in the area for the three months ended June 30, 2025 compared to the same period in 2024. Net Income Net income decreased $0.1 million or 6.8% to $1.6 million or $0.06 per share in the second quarter of 2025, compared to net income of $1.7 million or $0.07 per share in the second quarter of 2024. Adjusted EBITDA Adjusted EBITDA increased $0.1 million or 2.1% to $6.9 million in the second quarter of 2025, compared to $6.8 million in the same period in 2024. Dividend Policy The company recently declared a monthly cash dividend of $0.02533 per common share (or $0.30396 per share on an annualized basis), payable on August 29, 2025, to holders of record at the close of business on August 15, 2025. Business Strategy Global Water's near-term growth strategy involves increasing service connections, improving operating efficiencies, and increasing utility rates as approved by the ACC. The company plans to continue aggregating water and wastewater utilities through strategic acquisitions and entity consolidation, which is expected to enable the company and its customers to realize the benefits of consolidation, regionalization, and environmental stewardship. Connection Rates As of June 30, 2025, active service connections increased by 2,383 or 3.8% to 65,639 compared to 63,256 at June 30, 2024, with the increase primarily due to organic growth in the company’s service areas. Arizona’s Growth Corridor: Positive Population and Economic Trends The company continues to experience organic growth exhibited through its year-over-year organic increase in active connections (i.e., exclusive of acquisition related growth) of 3.8% as of June 30, 2025. According to the 2024 U.S. Census estimates, the Phoenix metropolitan statistical area (MSA) is the 10th largest MSA in the U.S. and had an estimated population of 5.2 million, an increase of 7.0% over the 4.8 million people reported in the 2020 Census. Growth in the Phoenix MSA continues as a result of its excellent weather, large and growing universities, a diverse employment base, and low taxes. The Employment and Population Statistics Department of the State of Arizona predicts that the Phoenix metropolitan area will have a population of 5.8 million people by 2030 and 6.5 million by 2040. The company’s organic growth continues to be heavily influenced by the substantially lower cost of housing in the City of Maricopa as compared to other areas in the Phoenix MSA. As of June 2025, the median home sales price was nearly 30% lower in the City of Maricopa than in the City of Phoenix. The company is monitoring potential effects on its operations due to changes in the macroeconomic environment, such as the impacts of tariffs on its operational costs and construction work in progress, as well as new home construction in the company’s service areas. The company continues to expect a positive long-term outlook based on forecasted performance of job growth and construction in the Phoenix MSA housing market. Although the Phoenix MSA has experienced a decrease in both single family and multi-family permits issued in the first half of 2025 as compared to same year ago period due to external factors and macroeconomic challenges, including, among other things, uncertainty related to tariffs, management believes the company is well-positioned to benefit from the long-term growth expected in the Phoenix MSA due to the availability of lots and existing infrastructure in place within its service areas. Conference CallGlobal Water Resources will hold a conference call tomorrow to discuss its second quarter of 2025 results, including a question-and-answer period. Date: Thursday, August 14, 2025Time: 1:00 p.m. Eastern time (10:00 a.m. Pacific time)Toll-free dial-in number: 1-833-816-1435International dial-in number: 1-412-317-0527Conference ID: 10201420Webcast (live and replay): here The conference call webcast is also available via a link in the Investors section of the company’s website at www.gwresources.com. Please call the conference telephone number five minutes prior to the start time. An operator will register your name and organization. If you require any assistance connecting to the call, please contact Encore at 1-949-432-7450. A replay of the call will be available after 4:00 p.m. Eastern time on the same day through August 28, 2025. Toll-free replay number: 1-844-512-2921International replay number: 1-412-317-6671 Replay ID: 10201420 About Global Water Resources Global Water Resources, Inc. is a leading water resource management company that owns and operates 39 systems which provide water, wastewater, and recycled water service. The company’s service areas are located primarily in growth corridors around metropolitan Phoenix and Tucson. Global Water recycles over 1 billion gallons of water annually with 18.5 billion gallons recycled since 2004. The company has been recognized for its highly effective implementation of Total Water Management (TWM). TWM is an integrated approach to managing the entire water cycle that involves owning and operating water, wastewater and recycled water utilities within the same geographic area in order to maximize the beneficial use of recycled water. It enables smart water management programs such as remote metering infrastructure and other advanced technologies, rate designs, and incentives that result in real conservation. TWM helps protect water supplies in water-scarce areas experiencing population growth. Global Water has received numerous industry awards, including national recognition as a ‘Utility of the Future Today’ for its superior water reuse practices by a national consortium of water and conservation organizations led by the Water Environment Federation (WEF). The company also received Cityworks’ Excellence in Departmental Practice Award for demonstrating leadership and creativity in applying public asset management strategies to daily operations and long-term planning. To learn more, visit www.gwresources.com. Use of Non-GAAP Measures This press release contains certain financial measures that are not recognized measures under accounting principles generally accepted in the United States of America (“GAAP”), including EBITDA, adjusted EBITDA, and adjusted net income. EBITDA is defined for the purposes of this press release as net income before interest, income taxes, depreciation, and amortization. Adjusted EBITDA is defined as EBITDA excluding the gain or loss related to (i) nonrecurring events; (ii) restricted stock expense related to awards made to employees and the board of directors and (iii) disposal of assets, as applicable. Adjusted net income reflects net income excluding (i) the amortization related to ICFA intangible assets; and (ii) the tax effect of this item, as applicable. Management believes that EBITDA, adjusted EBITDA, and adjusted net income are useful supplemental measures of our operating performance and provide our investors meaningful measures of overall corporate performance. EBITDA is also presented because management believes that it is frequently used by investment analysts, investors, and other interested parties as a measure of financial performance. Adjusted EBITDA and adjusted net income are also presented because management believes that they provide our investors additional measures of our recurring core business. However, non-GAAP measures do not have a standardized meaning prescribed by GAAP, and investors are cautioned that non-GAAP measures, such as EBITDA, adjusted EBITDA, and adjusted net income, should not be construed as an alternative to net income or loss or other income statement data (which are determined in accordance with GAAP) as an indicator of our performance or as a measure of liquidity and cash flows. Management's method of calculating EBITDA, adjusted EBITDA, and adjusted net income may differ materially from the method used by other companies and accordingly, may not be comparable to similarly titled measures used by other companies. A reconciliation of EBITDA, adjusted EBITDA, and adjusted net income to net income, the most comparable GAAP measure, is included in the schedules attached to this press release. Cautionary Note Regarding Forward-Looking Statements Certain statements in this press release and the related conference call include certain forward-looking statements which reflect the company's expectations regarding future events. The forward-looking statements involve a number of assumptions, risks, uncertainties, and other factors that could cause actual results to differ materially from those contained in the forward-looking statements. These forward-looking statements include, but are not limited to, statements about our strategies; expectations about future business plans, prospective performance, growth, and opportunities, including expected growth in and around metropolitan Phoenix and Tucson and the resulting potential for new service connections, as well as the anticipation of continued growth in active service connections in line with the projected single-family housing permits; future financial performance; regulatory and ACC proceedings, decisions, and approvals, such as the anticipated benefits resulting from rate decisions, including any collective revenue increases due to new water and wastewater rates, as well as the outcome and timing of our rate cases and other applications with the ACC; our plans relating to future filings of our rate cases with the ACC; acquisition plans and strategies, including our ability to complete additional acquisitions, and our expectations about future benefits of our acquisitions, such as projected revenue from such acquisitions, as well as our plans relating to the integration and upgrade of acquired water systems; statements concerning Arizona’s Assured Water Supply “Ag-to-Urban” program, including anticipated benefits; population and growth projections; technologies, including expected benefits from implementing such technologies; revenues; metrics; operating expenses; trends relating to our industry, market, population and job growth, and housing permits; the adequacy of our water supply to service our current demand and growth for the foreseeable future; liquidity and capital resources; plans and expectations for capital expenditures; cash flows and uses of cash; dividends; depreciation and amortization; tax payments; our ability to repay indebtedness and invest in initiatives; the anticipated impact and resolutions of legal matters; the anticipated impact of new or proposed laws, including regulatory requirements, tax changes, and judicial decisions; the anticipated impact of accounting changes and other pronouncements; and other statements that are not historical facts, as well as statements identified by words such as "expects", "anticipates", "intends", "plans", "believes", "seeks", "estimates", or the negative of these terms, or other words of similar meaning. These statements are based on our current beliefs or expectations and are inherently subject to a number of risks, uncertainties, and assumptions, most of which are difficult to predict and many of which are beyond our control. Actual results may differ materially from these expectations due to changes in political, economic, business, market, regulatory, and other factors. Factors that may also affect future results are disclosed under the headings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our filings with the Securities and Exchange Commission (the "SEC"), which are available at the SEC's website at www.sec.gov. This includes, but is not limited to, our most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings with the SEC. Accordingly, investors are cautioned not to place undue reliance on any forward-looking statements, which reflect management’s views as of the date hereof. We undertake no obligation to publicly update any forward-looking statement, except as required by law, whether as a result of new information, future developments or otherwise. Company Contact:Michael J. Liebman CFO and SVPTel (480) 999-5104 Email Contact Investor Relations:Ron Both or Grant StudeEncore Investor RelationsTel (949) 432-7450Email Contact   GLOBAL WATER RESOURCES, INC. Condensed Consolidated Balance Sheets (unaudited) (in thousands, except share and per share amounts)     June 30, 2025 December 31, 2024 Assets     Utility Plant $ 562,267   $ 512,993   Less accumulated depreciation   (160,518 )   (153,614 ) Net utility plant   401,749     359,379   Current Assets     Cash and cash equivalents   10,220     9,047   Accounts receivable, net of allowance for credit losses of $170 and $163, respectively   3,830     3,233   Unbilled revenue   3,806     3,109   Taxes, prepaid expenses and other current assets   3,969     4,080   Total current assets   21,825     19,469   Other Assets     Goodwill   6,282     9,486   Intangible assets, net   8,475     8,427   Regulatory assets   7,023     4,032   Restricted cash   2,156     2,109   Right-of-use assets, net   1,759     2,157   Other noncurrent assets   113     78   Total other assets   25,808     26,289   Total Assets $ 449,382   $ 405,137   Capitalization and Liabilities     Capitalization     Common stock, $0.01 par value, 60,000,000 shares authorized; 27,830,545 and 24,570,994 shares issued as of June 30, 2025 and December 31, 2024, respectively $ 273   $ 240   Treasury stock, 357,268 and 344,978 shares at June 30, 2025 and December 31, 2024, respectively   (2 )   (2 ) Additional paid-in capital   76,469     47,366   Retained earnings   —     —   Total shareholders’ equity   76,740     47,604   Long-term debt, net   116,803     118,518   Total Capitalization   193,543     166,122   Current Liabilities     Accounts payable   986     2,051   Customer and meter deposits   1,669     1,609   Long-term debt, current portion   3,940     3,926   Leases, current portion   892     871   Accrued expenses and other current liabilities   12,519     13,801   Total current liabilities   20,006     22,258   Other Liabilities     Long-term lease liabilities   1,562     1,450   Deferred revenue - ICFA   22,449     21,517   Regulatory liabilities   5,360     5,386   Advances in aid of construction   145,854     126,467   Contributions in aid of construction, net   37,585     36,834   Deferred income tax liabilities, net   9,709     9,698   Other noncurrent liabilities   13,314     15,405   Total other liabilities   235,833     216,757   Total Capitalization and Liabilities $ 449,382   $ 405,137     GLOBAL WATER RESOURCES, INC. Condensed Consolidated Statements of Operations (unaudited) (in thousands, except share and per share amounts)     Three Months EndedJune 30, Six Months EndedJune 30,     2025     2024     2025     2024   Revenue         Water service $ 7,368   $ 6,668   $ 13,348   $ 11,894   Wastewater and recycled water service   6,873     6,842     13,350     13,226   Total revenue   14,241     13,510     26,698     25,120   Operating Expenses         Operations and maintenance   3,917     3,485     7,604     6,769   General and administrative   4,387     4,232     8,574     8,357   Depreciation and amortization   3,317     2,996     6,645     5,930   Total operating expenses   11,621     10,713     22,823     21,056   Operating Income   2,620     2,797     3,875     4,064   Other Income (Expense)         Interest income   216     266     315     504   Interest expense   (1,496 )   (1,507 )   (2,974 )   (3,073 ) Other, net   889     772     1,787     1,774   Total other expense   (391 )   (469 )   (872 )   (795 ) Income Before Income Taxes   2,229     2,328     3,003     3,269   Income Tax Expense   (617 )   (598 )   (800 )   (848 ) Net Income $ 1,612   $ 1,730   $ 2,203   $ 2,421             Basic earnings per common share $ 0.06   $ 0.07   $ 0.08   $ 0.10   Diluted earnings per common share $ 0.06   $ 0.07   $ 0.08   $ 0.10   Dividends declared per common share $ 0.08   $ 0.08   $ 0.15   $ 0.15             Weighted average number of common shares used in the determination of:         Basic   27,463,169     24,199,472     25,925,155     24,187,586   Diluted   27,504,578     24,308,524     25,986,878     24,306,316                             GLOBAL WATER RESOURCES, INC. Condensed Consolidated Statements of Cash Flows (unaudited) (in thousands)     Six Months Ended June 30,     2025     2024   Cash Flows from Operating Activities:     Net income $ 2,203   $ 2,421   Adjustments to reconcile net income to net cash provided by operating activities:     Depreciation and amortization   6,645     5,930   Share-based compensation   280     595   Deferred income tax expense   53     838   AFUDC-Equity   (556 )   (444 ) Operating lease expense   207     214   Other adjustments   103     59   Changes in assets and liabilities     Accounts receivable and other current assets   (1,238 )   (129 ) Accounts payable and other current liabilities   (261 )   101   Other noncurrent assets   (77 )   (21 ) Other noncurrent liabilities   1,468     4,007   Net cash provided by operating activities   8,827     13,571   Cash Flows from Investing Activities:     Capital expenditures   (35,395 )   (12,207 ) Other cash flows used in investing activities   —     (4 ) Net cash used in investing activities   (35,395 )   (12,211 ) Cash Flows from Financing Activities:     Dividends paid   (3,928 )   (3,640 ) Advances and contributions in aid of construction   3,007     2,215   Repayments of notes payable   (1,965 )   (1,917 ) Line of credit repayments   —     (2,315 ) Loan borrowings   222     20,000   Issuance of common stock, net of issuance costs   31,042     —   Financing costs of debt and equity transactions   (259 )   (369 ) Other financing activities   (331 )   (401 ) Net cash provided by financing activities   27,788     13,573   Increase in cash, cash equivalents, and restricted cash   1,220     14,933   Cash, cash equivalents, and restricted cash — Beginning of period   11,156     4,763   Cash, cash equivalents, and restricted cash — End of period $ 12,376   $ 19,696     Supplemental disclosure of cash flow information:     Six months ended June 30,     2025     2024   Cash and cash equivalents $ 10,220   $ 18,148   Restricted cash   2,156     1,548   Total cash, cash equivalents, and restricted cash $ 12,376   $ 19,696     A reconciliation of net income to EBITDA and Adjusted EBITDA for the three months ended June 30, 2025 and 2024 is as follows (in thousands):   Three Months EndedJune 30,     2025     2024   Net Income $ 1,612   $ 1,730   Income tax expense   617     598   Interest income   (216 )   (266 ) Interest expense   1,496     1,507   Depreciation and amortization   3,317     2,996   EBITDA   6,826     6,565   Gain on disposal of fixed assets   —     (20 ) Restricted stock expense   109     285   Acquisition gain resulting from regulatory decision   —     (37 ) EBITDA adjustments   109     228   Adjusted EBITDA $ 6,935   $ 6,793     A reconciliation of net income to adjusted net income for the three months ended June 30, 2025 and 2024 is as follows (in thousands):   Three Months EndedJune 30,     2025     2024   Net Income $ 1,612   $ 1,730   ICFA intangible amortization expense   —     81   Income tax effect of items above   —     (20 ) Adjusted Net Income $ 1,612   $ 1,791     The non-GAAP adjustments to reach adjusted net income did not result in changes to diluted earnings per share on an adjusted basis. 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