Revenue Performance - Total revenue for the three months ended April 30, 2025, was $93.96 million, a decrease of 12.2% from $107.06 million for the same period in 2024[98]. - Revenue from the U.S. Concrete Pumping segment decreased by 16.8%, or $12.5 million, from $74.6 million in Q2 2024 to $62.1 million in Q2 2025, primarily due to a slowdown in commercial construction and adverse weather[99]. - Revenue for the U.S. Concrete Waste Management Services segment increased by 6.9%, or $1.2 million, from $16.9 million in Q2 2024 to $18.1 million in Q2 2025, driven by organic growth and pricing improvements[100]. - Total revenue for the six months ended April 30, 2025, was $180.4 million, down 11.9% from $204.8 million for the same period in 2024[109]. - Revenue from the U.S. Concrete Pumping segment for the six months ended April 30, 2025, decreased by 15.8%, or $22.3 million, from $141.3 million in 2024 to $119.0 million in 2025[110]. - Revenue for the U.K. Operations segment decreased by 14.0%, or $4.3 million, from $30.9 million in the six months ended April 30, 2024, to $26.6 million in 2025[112]. Profitability Metrics - Gross profit for the three months ended April 30, 2025, was $36.18 million, down 13.4% from $41.77 million in the same period in 2024[102]. - Gross profit for the six months ended April 30, 2025 was $67.4 million, a decrease of $7.7 million (10.2%) from $75.1 million in the same period of 2024[113]. - Gross margin improved to 37.4% for the six months ended April 30, 2025, compared to 36.7% for the same period in 2024, primarily due to lower fuel and commercial insurance costs[113]. - Adjusted EBITDA for the U.S. Concrete Pumping segment was $21.8 million for the six months ended April 30, 2025, down $7.3 million (25.0%) from $29.1 million in 2024[125]. - Total adjusted EBITDA for the company was $46.8 million for the six months ended April 30, 2025, a decrease of $7.3 million (15.6%) from $39.5 million in 2024[125]. - Adjusted EBITDA for the three months ended April 30, 2025, was $22,497,000, down 18.2% from $27,548,000 in the prior year[152]. Expenses and Financial Costs - General and administrative expenses for Q2 2025 were $27.9 million, a decrease of $1.8 million from $29.7 million in Q2 2024, with G&A as a percentage of revenue increasing to 29.7%[103]. - Interest expense for Q2 2025 was $8.3 million, an increase of $1.4 million from $6.9 million in Q2 2024, primarily due to refinancing of senior notes[105]. - General and administrative (G&A) expenses decreased by $5.9 million to $55.7 million for the six months ended April 30, 2025, representing 30.9% of revenue, up from 30.1% in 2024[114]. - Interest expense for the six months ended April 30, 2025 was $14.1 million, an increase of $0.8 million from $13.3 million in the same period of 2024, mainly due to refinancing of senior notes[116]. - Total interest expense and amortization of deferred financing costs for the six months ended April 30, 2025, was $14,096,000, an increase from $13,336,000 in the prior year[152]. Net Income and Loss - Consolidated net income for the three months ended April 30, 2025, was a loss of $4,000 compared to a net income of $3,046,000 for the same period in 2024[152]. - Net loss for the U.S. Concrete Pumping segment was $4.7 million for the six months ended April 30, 2025, compared to a net loss of $2.3 million in the same period of 2024[125]. - U.S. Concrete Waste Management Services segment reported net income of $1.4 million for the six months ended April 30, 2025, compared to a net loss of $0.2 million in 2024[126]. - U.K. Operations segment net income decreased to $0.6 million for the six months ended April 30, 2025, down from $1.5 million in 2024[127]. - U.S. Concrete Pumping segment reported a net loss of $1,601,000 for the three months ended April 30, 2025, compared to a net income of $937,000 in the same period of 2024[152]. - U.S. Concrete Waste Management Services achieved a net income of $1,202,000 for the three months ended April 30, 2025, up from $1,065,000 in the prior year[152]. Cash Flow and Liquidity - As of April 30, 2025, the company had $37.8 million in cash and cash equivalents and $314.7 million in available borrowing capacity under the ABL Facility, totaling $352.5 million in liquidity[129]. - Net cash provided by operating activities for the six months ended April 30, 2025 was $30.8 million, despite a net loss of $2.6 million[143]. - Gross capital expenditures for the six months ended April 30, 2025 were approximately $19.5 million, down from $28.8 million in the same period of 2024[133]. - The company used $16.3 million for investing activities during the six months ended April 30, 2025, primarily for property, plant, and equipment[145]. - Net cash used in financing activities was $19.9 million for the six months ended April 30, 2025, which included $425.0 million from the issuance of 2032 Notes and $375.0 million for the extinguishment of 2026 Notes[147]. - The company had a working capital surplus of $45.7 million as of April 30, 2025, and is in compliance with its debt covenants[132]. Strategic Initiatives - The company views strategic acquisitions as opportunities to enhance competitiveness and plans to allocate capital for opportunistic M&A using cash and revolving credit[90]. - The ABL Facility was amended to increase maximum borrowings from $225.0 million to $350.0 million and extend its maturity to September 6, 2029[138]. - The company had no outstanding balance under the ABL Facility as of April 30, 2025, and maintained $1.1 million in credit line reserves[139]. - The company’s future capital requirements may vary significantly based on revenue growth, potential acquisitions, and overall economic conditions[130]. Other Financial Adjustments - The company incurred a loss on debt extinguishment of $1,392,000 for the six months ended April 30, 2025[152]. - Other adjustments for the six months ended April 30, 2025, included a non-recurring charge related to sales tax litigation amounting to $3.5 million[152]. - The company did not make modifications to its critical accounting policies and estimates during the six months ended April 30, 2025[154].

Financial Performance - For the first quarter of fiscal 2026, the company reported a net loss of $13.2 million, or $0.58 per diluted share, compared to a net income of $9.4 million, or $0.41 per diluted share in the same period of fiscal 2025[65]. - Total revenue for the first quarter of fiscal 2026 decreased by 5.5% or $34.4 million, primarily due to challenging industry conditions and a projected 23.6% decline in net farm income compared to 2022[76]. - Gross profit for the first quarter of fiscal 2026 decreased by 25.3% or $30.8 million, with a gross profit margin declining to 15.3% from 19.4% in the prior year quarter[78]. - The company reported a loss before income taxes of $17.3 million for the first quarter of fiscal 2026, compared to an income of $12.8 million in the same period of fiscal 2025[86]. - Net cash provided by operating activities was $6.2 million for the first three months of fiscal 2026, a significant improvement from a net cash used of $32.4 million in the prior year[101]. Revenue Breakdown - Total revenue for the first quarter of fiscal 2026 was $594.3 million, a decrease of 5.5% compared to $628.7 million in the same period of fiscal 2025[86]. - Agriculture segment revenue decreased by 14.1% to $384.4 million, primarily due to lower equipment sales driven by challenging industry conditions[87]. - Equipment revenue for the first quarter of fiscal 2026 was $436.8 million, a decrease of 6.7% compared to $468.1 million in the same period of fiscal 2025[76]. - Parts revenue decreased by 2.4% to $105.6 million, while service revenue also saw a decline of 2.4% to $44.0 million in the first quarter of fiscal 2026[76]. - The construction segment reported a revenue increase of 0.9% to $72.1 million, but incurred a loss before income taxes of $4.2 million[89][90]. Operating Metrics - The absorption rate for the company decreased to 75.5% in the first quarter of fiscal 2026, down from 77.1% in the same period last year, primarily due to lower gross profit[79]. - Operating expenses decreased by 2.8% to $96.4 million, but as a percentage of revenue, operating expenses increased to 16.2% from 15.8% year-over-year[80]. - The gross profit margin for equipment sales dropped significantly to 6.8% from 11.9% in the prior year, reflecting lower equipment margins driven by softer retail demand[78]. - Equipment inventory turnover decreased from 2.0 times to 1.7 times over the rolling 12 months ended April 30, 2025, indicating a decline in demand[97]. Segment Performance - The company operates through four reportable segments: Agriculture, Construction, Europe, and Australia, with principal revenue sources including new and used equipment sales, parts sales, service, and equipment rental[61]. - Europe segment revenue increased by 44.2% to $93.9 million, attributed to higher equipment demand from EU stimulus programs[91]. - Shared Resources loss before income taxes was $4.5 million for the first quarter of fiscal 2026, compared to a loss of $1.4 million in the same period last year[94]. Tax and Debt - The effective tax rate improved to 23.6% in the first quarter of fiscal 2026 from 26.2% in the same period of fiscal 2025[83]. - Total long-term debt, including finance lease obligations, was $211.2 million, primarily fixed rate debt[109]. Foreign Currency Risk - The company manages foreign currency exchange rate risk through derivative financial instruments, primarily foreign exchange forward contracts[110]. - A hypothetical 10% increase or decrease in foreign exchange rates would not have a material impact on results of operations or cash flows[110]. - The Ukrainian subsidiary had $1.0 million of net monetary assets denominated in Ukrainian hryvnia (UAH) as of April 30, 2025[110]. - The continuation of the Russia/Ukraine conflict could lead to significant UAH devaluations or more stringent payment controls in the future[110]. - Fluctuating foreign currency exchange rates may adversely impact results of operations, cash flows, and net investment in foreign operations[111].

Financial Performance - Net income for the three months ended April 30, 2025, was $54.5 million, compared to $52.0 million for the same period in 2024, representing a 4.8% increase[9] - Comprehensive income attributable to Greif, Inc. for the three months ended April 30, 2025, was $123.2 million, up from $44.1 million in 2024, indicating a significant increase of 179.5%[9] - Net cash provided by operating activities for the six months ended April 30, 2025, was $105.6 million, compared to $92.0 million for the same period in 2024, an increase of 14.8%[13] - The net income for the three months ended April 30, 2025, was $47.3 million, compared to $55.9 million for the six months ended April 30, 2025[14] - Comprehensive income for the three months ended April 30, 2025, was $123.2 million, while the comprehensive income for the six months ended April 30, 2025, was $102.3 million[14] - The net income attributable to Greif, Inc. for the six months ended April 30, 2025, was $55.9 million, compared to $111.6 million for the same period in 2024[92] Assets and Equity - Total assets as of April 30, 2025, were $6,754.4 million, compared to $6,647.6 million as of October 31, 2024, reflecting a growth of 1.6%[11] - Cash and cash equivalents increased to $252.7 million as of April 30, 2025, from $197.7 million at the end of October 2024, marking a rise of 27.8%[11] - The total shareholders' equity increased to $2,175.0 million as of April 30, 2025, from $2,117.5 million as of October 31, 2024, representing a growth of 2.7%[12] - As of April 30, 2025, Greif, Inc. reported a total equity of $2,175.0 million, an increase from $2,117.5 million as of October 31, 2024[14] - The company's total equity as of April 30, 2024, was $2,047.4 million, reflecting an increase from $1,986.3 million as of October 31, 2023[15] Debt and Financing - Long-term debt decreased to $2,290.9 million as of April 30, 2025, down from $2,626.2 million as of October 31, 2024, a reduction of 12.7%[12] - The Company has a secured revolving credit facility of $800.0 million, maturing on March 1, 2027[49] - As of April 30, 2025, the outstanding balance under the 2022 and 2023 Credit Agreements was $2,392.3 million, with a current portion of $95.8 million and a long-term portion of $2,296.5 million[55] - The weighted average interest rate for borrowings under the 2022 and 2023 Credit Agreements was 5.88% for the six months ended April 30, 2025, with an actual interest rate of 6.06% as of the same date[55] Foreign Currency and Translation - The company reported a foreign currency translation gain of $118.0 million for the three months ended April 30, 2025, compared to a loss of $29.2 million in 2024[9] - The company experienced a foreign currency translation gain of $117.3 million for the three months ended April 30, 2025[14] - The company reported a foreign currency translation loss of $28.3 million for the current period[15] - The net investment hedges resulted in a final gain of $11.3 million, included in the foreign currency translation component of other comprehensive income (OCI) [74] Dividends - Dividends paid to Greif, Inc. shareholders amounted to $31.4 million for the three months ended April 30, 2025, with a per share distribution of $0.54 for Class A and $0.81 for Class B shares[14] - Dividends paid to Greif, Inc. shareholders amounted to $30.0 million, with Class A and Class B shares receiving $0.52 and $0.78 per share, respectively[15] Acquisitions and Restructuring - The Company acquired Ipackchem Group SAS for a total purchase price of $582.1 million, incurring transaction costs of $8.9 million[29] - As of April 30, 2025, the fair value of identifiable net assets acquired from Ipackchem was $301.1 million, with goodwill recognized at $281.0 million[32] - The Company recorded restructuring charges of $11.2 million for the three months ended April 30, 2025, compared to $(6.8) million for the same period in 2024[43] - The Company expects to incur remaining restructuring costs of $25.9 million as of April 30, 2025[46] Operational Segments - The Customized Polymer Solutions segment generated $624.4 million in net sales for the six months ended April 30, 2025, up from $513.6 million in the same period of 2024, reflecting a 21.6% increase[100][102] - The Sustainable Fiber Solutions segment reported net sales of $1,160.5 million for the six months ended April 30, 2025, compared to $1,108.9 million in the prior year, marking a 4.7% increase[100][102] - The Durable Metal Solutions segment achieved net sales of $721.1 million for the six months ended April 30, 2025, compared to $784.2 million in the same period of 2024, reflecting a decrease of 8.0%[100][102] - The Integrated Solutions segment reported an operating profit of $17.7 million for the six months ended April 30, 2025, down from $28.5 million in the same period of 2024, a decline of 37.5%[100][102] Compliance and Standards - The interim condensed consolidated financial statements have been prepared in accordance with GAAP, ensuring compliance with SEC regulations[17] - The company is in the process of determining the potential impact of recently issued accounting standards on its financial position and operations[24] Environmental and Tax - The company expects to make employer contributions of $5.9 million to its pension plans during 2025 [86] - As of April 30, 2025, the company's environmental reserves were $19.8 million, up from $19.1 million as of October 31, 2024 [90] - Income tax expense for the six months ended April 30, 2025, was $37.6 million, compared to a benefit of $(21.2) million for the same period in 2024, reflecting a $58.8 million increase [84] - A deferred tax liability of $63.6 million was recorded as part of the Ipackchem Acquisition, arising from temporary differences between the fair value of acquired assets and their tax basis [85]

Financial Performance - Net income for the three months ended April 30, 2025, was $54.5 million, compared to $52.0 million for the same period in 2024, representing a 4.8% increase[9]. - Comprehensive income attributable to Greif, Inc. for the three months ended April 30, 2025, was $123.2 million, up from $44.1 million in 2024, indicating a significant increase of 179.5%[9]. - Net cash provided by operating activities for the six months ended April 30, 2025, was $105.6 million, compared to $92.0 million for the same period in 2024, an increase of 14.9%[13]. - The net income for the three months ended April 30, 2025, was $47.3 million, compared to $55.9 million for the six months ended April 30, 2025, indicating a decrease of about 15.4%[14]. - Comprehensive income for the three months ended April 30, 2025, was $123.2 million, while for the six months ended April 30, 2025, it was $102.3 million, showing a significant increase in comprehensive income[14]. - The total operating profit for the six months ended April 30, 2025, was $178.5 million, compared to $167.0 million for the same period in 2024, representing a growth of 6.5%[100][102]. Assets and Equity - Total assets as of April 30, 2025, were $6,754.4 million, compared to $6,647.6 million as of October 31, 2024, reflecting a growth of 1.6%[11]. - The total shareholders' equity increased to $2,175.0 million as of April 30, 2025, from $2,117.5 million as of October 31, 2024, representing a growth of 2.7%[12]. - As of April 30, 2025, Greif, Inc. reported a total equity of $2,175.0 million, an increase from $2,117.5 million as of October 31, 2024, reflecting a growth of approximately 2.7%[14]. - The company reported a total of $2,476.4 million in retained earnings as of April 30, 2025, reflecting a stable earnings retention strategy[14]. Debt and Financing - Long-term debt decreased to $2,290.9 million as of April 30, 2025, down from $2,626.2 million as of October 31, 2024, a reduction of 12.7%[12]. - As of April 30, 2025, the outstanding balance under the 2022 and 2023 Credit Agreements was $2,392.3 million, with a current portion of $95.8 million and a long-term portion of $2,296.5 million[55]. - The weighted average interest rate for borrowings under the 2022 and 2023 Credit Agreements was 5.88% for the six months ended April 30, 2025, while the actual interest rate was 6.06%[55]. - The Company entered into a $300.0 million Incremental Term Loan A-4 Agreement on March 25, 2024, with quarterly principal installments starting April 30, 2024, and maturing on March 1, 2027[51]. Foreign Currency and Comprehensive Income - The company reported a foreign currency translation gain of $118.0 million for the three months ended April 30, 2025, compared to a loss of $29.2 million in 2024[9]. - The foreign currency translation contributed $117.3 million to other comprehensive income for the three months ended April 30, 2025[14]. - The accumulated other comprehensive income (loss) showed a loss of $308.7 million as of April 30, 2025, compared to a loss of $355.1 million as of October 31, 2024, indicating an improvement[14]. Dividends and Stock - Dividends paid to Greif, Inc. shareholders amounted to $31.4 million, with a dividend per Class A share of $0.54 and Class B share of $0.81[14]. - The total common stock increased from 47,437 thousand shares to 47,461 thousand shares, reflecting a slight increase in shares outstanding[14]. - The treasury stock decreased from $279.0 million to $276.8 million, indicating a reduction in the company's repurchased shares[14]. Acquisitions and Restructuring - The Company acquired Ipackchem Group SAS for a total purchase price of $582.1 million, incurring transaction costs of $8.9 million[29]. - As of April 30, 2025, the fair value of identifiable net assets acquired from Ipackchem was $301.1 million, with goodwill recognized at $281.0 million[32]. - The Company recorded restructuring charges of $11.2 million for the three months ended April 30, 2025, compared to $(6.8) million for the same period in 2024[43]. - The restructuring activities in 2025 focus on optimizing operations to align with long-term profitable earnings growth[42]. Operational Efficiency and Future Growth - The company plans to continue its market expansion and product development strategies to enhance future growth prospects[9]. - Greif, Inc. is transitioning to a material solution-based structure to enhance operational efficiency and capitalize on growth opportunities, which may impact future financial reporting[21]. - The company is in the process of determining the potential impact of recently issued accounting standards on its financial position and results of operations[24][27].

Revenue Growth - Byrna Technologies reported preliminary fiscal second quarter revenues of $28.5 million, a 41% increase from $20.3 million in the same quarter last year[3]. - E-commerce sales grew by 15% year-over-year, reflecting increased brand recognition and a balanced channel mix[4]. - Dealer sales surged 106% year-over-year to $7.5 million, driven by a partnership with Sportsman's Warehouse[5]. - International sales increased by 86%, including approximately $800,000 in royalty revenue from Byrna LATAM[6]. - Byrna's total sales breakdown for Q2 2025 included $16.6 million from web sales, $7.5 million from dedicated dealers, and $3.6 million from international sales[9]. Production and Manufacturing - Byrna produced 38,237 Compact Launchers in the quarter, contributing to a total of 63,835 launchers manufactured[6]. - The company plans to transition to a steady-state production cadence of 15,000 launchers per month[8]. Future Outlook - The company anticipates maintaining momentum through the second half of 2025, supported by the CL launch and expanded marketing efforts[8]. - Byrna plans to report full financial results for the fiscal second quarter in July, accompanied by a conference call for investors and analysts[10]. Risk Management - The company emphasizes the importance of addressing potential risks that could affect future performance, including supply chain disruptions and market responses[13].

Financial Performance - Gross profit increased by 15% year-over-year to $112 million, achieving a record gross profit margin of 37.1%[1] - Income from operations rose by 133% to $27 million, while adjusted EBITDA increased by 57% to $32 million[1] - GAAP EPS increased to $0.86 from $0.22, and non-GAAP EPS increased to $0.90 from $0.38[1] - Total revenue for 3Q25 was $210.2 million, a decrease of 5.2% compared to $221.7 million in 3Q24[24] - Gross profit for 3Q25 was $43.4 million, reflecting a year-over-year increase of 5.3% and a gross profit margin of 20.7%, up 210 basis points from 18.6% in 3Q24[24] - Income from operations rose significantly by 39.2% to $17.3 million in 3Q25 compared to $12.5 million in 3Q24[24] - Adjusted EBITDA for 3Q25 was $19.3 million, a 30.1% increase from $14.9 million in 3Q24[24] - Net income for the nine months ended April 30, 2025, was $63,657,000, compared to $30,572,000 for the same period in 2024, representing a growth of 108%[42] - Net income attributable to IDT Corporation for 3Q25 was $21.7 million, a significant increase from $5.6 million in 3Q24, representing a growth of 287.5%[59] - Non-GAAP net income for 3Q25 was $22.7 million, up from $9.7 million in 3Q24, marking an increase of 134.0%[59] Revenue Segments - Recurring revenue for the National Retail Solutions (NRS) segment grew by 23% to $29.4 million, driven by a 37% increase in Merchant Services revenue[2] - BOSS Money transactions increased by 27% to 6.0 million, with revenue rising by 25% to $34.4 million[2] - Traditional Communications segment's income from operations increased by 39% to $17.3 million, and adjusted EBITDA rose by 30% to $19.3 million[2] - IDT Digital Payments revenue increased by 1.0% year-over-year to $102.6 million, while BOSS Revolution revenue decreased by 18.1% to $51.7 million[24] - NRS' recurring revenue for 3Q25 was $29.4 million, reflecting a growth rate of 23% compared to the previous year[60] - Total revenue for NRS in 3Q25 was $31.1 million, up from $25.7 million in 3Q24, representing a year-over-year increase of 21.1%[60] Cash Flow and Assets - Net cash provided by operating activities was $75.7 million in 3Q25, a substantial increase from $9.5 million in 3Q24[26] - As of April 30, 2025, IDT held $223.8 million in cash and cash equivalents, with total current assets of $498.3 million and current liabilities of $287.2 million[25] - Cash, cash equivalents, and restricted cash at the end of the period totaled $323,077,000, up from $232,845,000, marking a 39% increase[42] - Net cash provided by operating activities increased to $96,059,000 from $52,778,000 year-over-year, reflecting an increase of 82%[42] Capital Expenditures and Dividends - Capital expenditures increased to $5.4 million in 3Q25 from $4.7 million in 3Q24[27] - Capital expenditures for the nine months were $15,507,000, up from $13,621,000, indicating a 14% increase[42] - The company approved a quarterly dividend of $0.06 per share, to be paid on June 18, 2025[29] - Dividends paid increased to $4,036,000 from $1,269,000, showing a significant rise of 218%[42] Operational Metrics - Active POS terminals increased by 17.6% year-over-year to 35,600, and payment processing accounts rose by 31.1% to 25,500[12] - Digital channel send volume for BOSS Money grew by 40% year-over-year, indicating a shift towards larger send amounts per transaction[19] - The Adjusted EBITDA margin for net2phone was 26% in 3Q25, indicating strong profitability relative to sales[60] - The company's income from operations for 3Q25 was $26.6 million, compared to $28.3 million in 2Q25, reflecting a decrease of 6.0%[59] Performance Evaluation - The company's Adjusted EBITDA and Non-GAAP EPS metrics are used to provide insights into core operational strengths and performance relative to competitors[46] - The 'Rule of 40' score for the NRS segment is utilized to assess the balance between revenue growth and profitability, indicating a healthy combination for long-term success[53] - The Rule of 40 score for NRS in 3Q25 was 49%, indicating a healthy balance of growth and profitability[60] - BOSS Money's digital send volume is a key metric for evaluating operational performance in the remittance business[66] - The digital send volume reflects the aggregate amount of principal remitted by customers using BOSS Money and BOSS Revolutions apps[66] - This metric allows for performance comparison against competitors in the remittance business[66] - BOSS Money's digital channel performance can be assessed over different temporal periods using this metric[66] Stock-Based Compensation - Stock-based compensation recognized was $2,720,000 for the nine months, down from $5,375,000, reflecting a decrease of 49%[42]

Financial Performance - Net sales increased by $82.7 million or 28% in the three months ended April 30, 2025, and by $158.2 million or 28% in the six months ended April 30, 2025, primarily driven by the Marketing & Distribution segment [84]. - Total net sales for Q2 2025 were $380.3 million, an increase from $297.6 million in Q2 2024, while total net sales for the first half of 2025 were $714.5 million compared to $556.3 million in the same period last year [108]. - Net sales in the Marketing & Distribution segment increased by $75.4 million or 26% for the three months ended April 30, 2025, compared to the same period last year [114]. - Net sales in the Blueberries segment increased by $5.7 million or 57% for the three months ended April 30, 2025, primarily due to higher volume from increased acreage and yields [118]. Profitability and Expenses - Gross profit decreased by $2.6 million or 8% in the three months ended April 30, 2025, to $28.4 million, with gross profit percentage decreasing to 7.5% of revenue [90]. - SG&A expenses increased by $2.8 million or 15% in the three months ended April 30, 2025, and by $4.3 million or 11% in the six months ended April 30, 2025, primarily due to higher employee-related costs [93]. - Other expense was $0.6 million in Q2 2025 compared to other income of $1.0 million in Q2 2024, driven by foreign currency transaction losses from a weakening U.S. dollar against the Mexican peso [100]. - Total adjusted EBITDA for Q2 2025 was $19.1 million, a decrease from $20.2 million in Q2 2024, while total adjusted EBITDA for the first half of 2025 was $36.8 million compared to $39.4 million in the same period last year [109]. - Marketing & Distribution adjusted EBITDA for Q2 2025 was $16.8 million, down from $21.7 million in Q2 2024, and for the first half of 2025 it was $26.5 million compared to $32.7 million in the same period last year [109]. - Segment adjusted EBITDA for the Blueberries segment decreased by $2.4 million or 26% for the six months ended April 30, 2025, primarily due to lower per-unit margins [121]. International Operations - Gross profit at the International Farming segment increased due to higher pricing and yield from owned mango orchards [91]. - The International Farming segment's sales are concentrated in the second half of the fiscal year, aligning with the Peruvian avocado harvest season [76]. - Adjusted EBITDA for the International Farming segment increased by $3.7 million or 168% for the three months ended April 30, 2025, driven by higher pricing and yield from mango orchards [117]. - Equity method income increased by $0.4 million or 80% in Q2 2025 and by $0.8 million or 89% in the first half of 2025, primarily due to improved margins on fruit sold by Mr. Avocado in China [98]. Cash Flow and Liquidity - Net cash used in operating activities was $13.0 million for the six months ended April 30, 2025, compared to cash provided of $12.9 million in the same period last year, largely due to growth in working capital [123]. - The company’s liquidity includes cash and cash equivalents of $36.7 million as of April 30, 2025, down from $58.0 million as of October 31, 2024 [131]. - Outstanding borrowings on the syndicated debt facility totaled $147.5 million as of April 30, 2025 [136]. - The company was in compliance with all financial covenants of the credit facility as of April 30, 2025 [133]. Taxation and Regulatory Environment - Provision for income taxes decreased by $1.7 million or 50% in Q2 2025 and by $0.6 million or 11% in the first half of 2025, primarily due to lower income before taxes [105]. - The effective tax rate for Q2 2025 was 36.2%, compared to 32.7% in Q2 2024, and for the first half of 2025 it was 34.8% compared to 37.9% in the same period last year [105]. - The company continues to monitor regulatory changes and their impact on pricing strategies due to potential future trade policy changes [77]. Interest and Charges - Interest expense for the period primarily consisted of interest on borrowings under working capital facilities and long-term debt [95]. - Interest expense decreased by $0.9 million or 26% in Q2 2025 compared to Q2 2024, and by $2.0 million or 30% in the first half of 2025 compared to the same period last year, due to lower average balances on the revolving line of credit and lower interest rates [96]. - The company incurred $1.5 million in charges related to the closure of Canadian distribution centers during the first quarter of 2025 [78]. - The company recognized $1.1 million in tariffs on Mexican imports during a brief tariff application period in March 2025 [75].

Financial Performance - Total net revenue decreased 5% to $1.090 billion from $1.144 billion, with American Eagle revenue decreasing 4% and Aerie revenue decreasing 3% year-over-year [144]. - Gross profit decreased 31% to $322 million year-over-year, resulting in a gross margin of 29.6% compared to 40.6% last year [149]. - Operating loss of $85 million compared to operating income of $77 million last year, with an adjusted operating loss of $68 million this year [144]. - Comparable sales for American Eagle decreased 2% year-over-year, while Aerie's comparable sales decreased 4% year-over-year [144]. - Total comparable sales decreased by 3%, compared to a 7% increase last year [146]. - Net loss income was $64.9 million, or 6.0% of net revenue, compared to a net income of $67.8 million, or 5.9% of net revenue, representing a 196% decrease [163]. - Total operating loss was $85.2 million, a decrease of $163.0 million compared to an operating income of $77.8 million in the same period last year, reflecting a 209% decline [156]. Inventory and Charges - The company incurred a $75 million inventory charge related to a write-down of spring and summer merchandise [142]. - Impairment and restructuring charges amounted to $17.1 million, representing 1.6% of net revenue, a significant increase from 0.0% in the prior year [154]. Revenue Sources - Digital revenue decreased 2%, and store revenue decreased 6% during the reported period [146]. Store Operations - The number of stores at the end of the period increased to 1,176 from 1,173, with 6 stores opened and 2 closed [143]. - International licensed retail stores increased to 363 from 315 year-over-year [143]. - The company operated 363 licensed retail stores and concessions internationally as of May 3, 2025, across approximately 30 countries [168]. - The company remodeled 13 stores and opened 6 new stores during the 13 weeks ended May 3, 2025 [181]. Cash Flow and Liquidity - Cash flow and liquidity are expected to be sufficient to fund anticipated capital expenditures and working capital requirements for the next twelve months and beyond [137]. - Cash and cash equivalents decreased by $221.1 million for the 13 weeks ended May 3, 2025, compared to a decrease of $53.6 million in the same period last year [172]. - Total cash used in operating activities was $(54.7) million for the 13 weeks ended May 3, 2025, compared to $(38.1) million in the prior year, reflecting an increase in cash outflow of $16.6 million [172]. Capital Expenditures and Financing - For the 13 weeks ended May 3, 2025, capital expenditures totaled $61.6 million, a 70% increase from $36.2 million in the same period last year [180]. - The company expects capital expenditures for Fiscal 2025 to be approximately $275 million to support expansion efforts and technology upgrades [180]. - Cash used for financing activities for the 13 weeks ended May 3, 2025, included $201.5 million for stock repurchases under the ASR Agreement [175]. - The company repurchased approximately 0.7 million shares for $7.9 million during the 13 weeks ended May 3, 2025 [185]. - The company entered into an accelerated share repurchase agreement to repurchase $200 million of its common stock, with an initial delivery of approximately 14.5 million shares [184]. Shareholder Returns - The Board declared a quarterly cash dividend of $0.125 per share, paid on April 25, 2025 [186]. - The company has 54.0 million shares remaining authorized for repurchase through February 3, 2029 [183]. Other Financial Metrics - Interest income decreased by $3.2 million, or 94%, to $(0.2) million for the 13 weeks ended May 3, 2025, compared to $(3.4) million in the prior year [160]. - The effective tax rate increased to 23.3% for the 13 weeks ended May 3, 2025, compared to 18.0% for the same period in 2024 [162]. - An unrealized gain of $14 million was included in accumulated other comprehensive income for the 13 weeks ended May 3, 2025, due to foreign exchange rate risk [189]. - As of May 3, 2025, the company had $110.0 million in borrowings and $12.0 million in stand-by letters of credit under its Credit Facility [179].

Financial Performance - The company reported a net loss of $1,978,165 for Q1 2025, an increase of 116% compared to a net loss of $916,753 in Q1 2024[118]. - General and administrative expenses rose to $1,994,227 in Q1 2025, up 118% from $916,249 in Q1 2024, primarily due to increased salaries and wages[118]. - Salaries and wages increased by $1,085,536 (218%) in Q1 2025, largely due to stock-based compensation[120]. Cash Position - Cash on hand as of March 31, 2025, totaled $295,368, reflecting an increase of $166,050 from $129,318 at the end of the previous fiscal year[124]. - Net cash provided by financing activities was $715,553 in Q1 2025, primarily from new equity issuances and crowdfunding[130]. Business Development - The company installed third-generation Arrive Points ("AP3" units) in Q4 2024, which began revenue operations in 2025[107]. - The company plans to leverage machine learning and artificial intelligence for data monetization, enhancing operational efficiencies[108][109]. - The company has secured pilot programs with significant customers, indicating early market penetration and validation of its business model[112]. Market Activity - The S-1 Registration Statement was declared effective on May 13, 2025, registering 29,978,212 shares of common stock[113]. - The company's common stock began trading on the Nasdaq Global Market under the ticker "ARAI" on May 15, 2025[114].

Financial Performance - Consolidated net sales for Q3 2025 reached $115.5 million, an 8% increase year-over-year, marking the 16th consecutive quarter of sales growth[7] - Net income for Q3 2025 was $11.6 million, reflecting a 50% increase compared to the same period last year[12] - EBITDA increased by 35% to $20.2 million in Q3 2025, demonstrating strong operational performance[12] - Consolidated gross profit for Q3 2025 was $33.0 million, a 10% increase over the prior year, with gross margins at 28.6%[8] - Operating income increased to $13.9 million, a 33% rise compared to the previous year, driven by improved sales and lower SG&A expenses[10] - Net sales for the nine months ended April 30, 2025, increased to $360,360,000, representing a 11.3% growth from $323,885,000 in 2024[29] - Gross profit margin improved to 30.0% in 2025, up from 28.4% in 2024, with gross profit rising to $108,250,000[29] - Operating income increased by 35.6% to $52,576,000, compared to $38,753,000 in the previous year, reflecting an operating margin of 14.6%[29] - Net income for the nine months ended April 30, 2025, was $40,941,000, a 32.5% increase from $30,901,000 in 2024, resulting in a net income margin of 11.4%[29] - EBITDA for the year to date ended April 30, 2025, was $68,631,000, compared to $51,614,000 in 2024, reflecting strong operational performance[32] Revenue Breakdown - The Business to Business (B2B) Products Group reported revenues of $42.7 million, an 18% increase year-over-year, driven by strong agricultural and fluids purification product sales[14] - The Retail and Wholesale (R&W) Products Group's revenues reached $72.8 million, a 3% increase, with $4.8 million contributed from the acquisition of Ultra Pet[16] Cash and Assets - Cash and cash equivalents grew to $36.5 million as of April 30, 2025, up from $23.5 million at the end of fiscal year 2024[13] - Cash and cash equivalents rose to $36,475,000 as of April 30, 2025, compared to $23,481,000 as of July 31, 2024, indicating improved liquidity[30] - Total assets increased to $369,543,000 as of April 30, 2025, up from $354,605,000 as of July 31, 2024[30] - Net cash provided by operating activities for the nine months ended April 30, 2025, was $54,988,000, significantly higher than $36,929,000 in 2024[31] Dividends and Shareholder Value - The company paid dividends totaling $6,290,000 during the nine months ended April 30, 2025, compared to $5,848,000 in the previous year[31] - Book value per share outstanding increased to $17.79 as of April 30, 2025, up from $15.35 as of July 31, 2024[30] Cost and Tax - The company experienced a 5% increase in domestic cost of goods sold per ton due to higher material and freight costs[8] - The effective tax rate decreased to 18% in Q3 2025 from 23% in the same period last year, primarily due to higher pre-tax income[11]