Financial Performance - BriaCell Therapeutics Corp. reported a net loss of $6.12 million for the three months ended April 30, 2025, compared to a net loss of $1.72 million in the same period of 2024[109]. - The company reported a loss of $6,224,929 for the three-month period ended April 30, 2025, compared to income of $1,692,242 in 2024, driven by a significant decrease in non-cash gains[117]. - The company reported a net loss of $18,392,033 for the nine-month period, compared to a loss of $3,682,796 in 2024, primarily due to a smaller gain on the fair value of the warrant liability[127]. Operating Expenses - Total operating expenses decreased to $6.33 million in Q2 2025 from $9.23 million in Q2 2024, primarily due to reduced research, development, and clinical trial expenses[109]. - Total research, development, and clinical trial costs for the three-month period ended April 30, 2025, were $4,810,196, down 37.8% from $7,657,632 in 2024[111]. - Clinical trial expenses for the same period were $3,190,751, a decrease of 26.9% from $4,359,850 in 2024, primarily due to the conclusion of the Bria-IMT™ Phase 1/2a trial[112]. - The Bria-IMT™ Pivotal Phase 3 Study costs amounted to $2,708,394, down 28.1% from $3,764,521 in 2024, reflecting a shift in spending focus[113]. - General and administrative expenses for the three-month period were $1,518,059, slightly down from $1,572,016 in 2024, indicating operational efficiencies[115]. - For the nine-month period ended April 30, 2025, total research, development, and clinical trial costs were $14,160,314, a 38.1% decrease from $22,772,344 in 2024[120]. - Clinical trial expenses for the nine-month period were $9,822,400, down 22.5% from $12,650,189 in 2024, reflecting the completion of the Bria-IMT™ Phase 1/2a trial[121]. Capital Raising and Financial Position - The company raised approximately $3.05 million from a public offering of 762,500 common shares at $4.00 per share in February 2025[94]. - In April 2025, BriaCell closed an underwritten public offering for 3,066,666 units, generating approximately $13.8 million in gross proceeds[105]. - The Company intends to raise additional capital through debt or equity financings to achieve its business objectives[131]. - Certain directors and officers agreed to defer payment of their fees until financing was completed, after which these fees were paid in full[131]. - As of April 30, 2025, the company had total assets of $17,001,798, significantly up from $5,872,261 in July 2024, indicating improved financial position[129]. - The Company achieved a positive working capital balance of $10,454,565 as of April 30, 2025, compared to a negative working capital balance of $3,807,303 on July 31, 2024[142]. - The Company's cash and cash equivalents increased by $11,598,164 from July 31, 2024, to April 30, 2025[132]. - Cash gained in financing activities for the period ended April 30, 2025, was $31,891,239, compared to nil for the period ended April 30, 2024[133]. Clinical Trials and Research Developments - The pivotal Phase 3 study of Bria-IMT™ has enrolled over 75 patients and is expected to complete enrollment by late 2025 or early 2026, with top-line data potentially available in H1 2026[99]. - Bria-OTS™ demonstrated a 100% resolution of lung metastasis in a patient after two months of therapy, confirmed at four months[100]. - BriaCell's Phase 2 study showed a median overall survival of 17.3 months for HR+ metastatic breast cancer patients treated with Bria-IMT™ plus checkpoint inhibitors, outperforming the standard of care, TRODELVY, which had a median survival of 14.4 months[97]. - The company is developing anti-B7-H3 antibodies for multiple cancer indications through its subsidiary, BriaPro Therapeutics Corp.[95]. - BriaCell's ongoing Phase 1/2 study of Bria-OTS™ has cleared safety evaluation and is now transitioning to combination therapy with an immune checkpoint inhibitor[108]. - Positive survival and clinical benefit data from the Phase 2 study were presented at ASCO 2025, indicating potential for FDA approval and commercialization[107]. Risk Management - The Company is exposed to foreign exchange risk due to transactions in Canadian Dollars, but a 5% change in the exchange rate would not have a material effect on total loss[145]. - Management believes that the credit risk concentration with respect to financial instruments is remote[141]. - The Company continues to focus on its Phase 3 Bria-IMT™ pivotal study in advanced metastatic breast cancer while reducing expenditure on non-core activities[131].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended April 30, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 000-13301 RF INDUSTRIES, LTD. (Exact name of registrant as specified in its charter) 16868 Via Del Campo Court, Suite 200 San Diego, California 92127 (Address of principal executi ...

Management Commentary Exhibit 99.1 FOR IMMEDIATE RELEASE RF Industries Reports Second Quarter Fiscal Year 2025 Financial Results SAN DIEGO, CA, June 16, 2025 – RF Industries, Ltd, (NASDAQ: RFIL), a national manufacturer and marketer of interconnect products and systems, today announced second quarter fiscal year 2025 financial results for the fiscal quarter ended April 30, 2025. Second Quarter Fiscal 2025 Highlights and Operating Results: See "Note Regarding Use of Non-GAAP Financial Measures," "Unaudited R ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended April 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to ____________ Commission File Number: 000-28132 STREAMLINE HEALTH SOLUTIONS, INC. (Exact name of registrant as specified in its c ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission File Number: 001-40927 ZEO ENERGY CORP. (Exact name of registrant as specified in its charter) Delaware 98-1601409 (St ...

FORM 10-Q UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission File Number: 001-40927 ZEO ENERGY CORP. (Exact name of registrant as specified in its charter) Delaware 98-1601409 (St ...

Financial Performance - Fourth quarter revenue totaled $119.2 million, representing year-over-year growth of 6% compared to $112.2 million in the fourth quarter of fiscal 2024[2][4] - Fourth quarter GAAP net loss was $18.8 million, or ($0.18) per share, significantly improved from a net loss of $236.5 million, or ($2.32) per share, in the same quarter last year[2][5] - Non-GAAP adjusted net income for the fourth quarter was $10.8 million, or $0.10 per share, compared to $12.6 million, or $0.12 per share, in the fourth quarter of fiscal 2024[2][6] - Non-GAAP adjusted EBITDA for the fourth quarter was $20.5 million, representing a year-over-year increase of 66% from $12.3 million in the fourth quarter of fiscal 2024[2][6] - Fiscal year 2025 revenue totaled $490.5 million, with a GAAP net loss of $92.1 million, or ($0.89) per share, compared to a net loss of $420.4 million, or ($4.16) per share, in fiscal 2024[2][7] - Non-GAAP adjusted EBITDA for fiscal year 2025 was $72.3 million, down from $92.4 million in fiscal 2024[2][8] - Consolidated net revenue for the year ended March 31, 2025, was $490,506 thousand, a decrease of 10% from $544,482 thousand in 2024[39] Revenue Breakdown - Total On Device Solutions revenue for fiscal year 2025 was $341.6 million, while App Growth Platform revenue was $153.2 million[6] - Net revenue for the three months ended March 31, 2025, was $119,152 thousand, an increase from $112,223 thousand in the same period of 2024, representing a growth of 8.6%[31] - On Device Solutions revenue increased by 11% to $86,832 thousand for the three months ended March 31, 2025, compared to $78,504 thousand in the same period of 2024[37] - App Growth Platform revenue decreased by 3% to $33,250 thousand for the three months ended March 31, 2025, down from $34,437 thousand in 2024[37] Cost and Expenses - The total costs of revenue and operating expenses for the three months ended March 31, 2025, were $130,844 thousand, significantly lower than $320,062 thousand for the same period in 2024, indicating a reduction of 59.1%[31] - The company reported a total of $39,464 thousand in product development expenses for the year ended March 31, 2025, down from $54,157 thousand in 2024[39] - General and administrative expenses increased to $173,647 thousand for the year ended March 31, 2025, compared to $169,617 thousand in 2024[39] Cash Flow and Assets - Cash and cash equivalents and restricted cash at the end of the period on March 31, 2025, were $40,084 thousand, up from $33,605 thousand at the end of March 31, 2024, reflecting an increase of 19.0%[35] - Total assets decreased to $812,854 thousand as of March 31, 2025, from $865,540 thousand as of March 31, 2024, a decline of 6.1%[33] - Long-term debt, net of debt issuance costs, increased to $408,687 thousand as of March 31, 2025, compared to $383,490 thousand as of March 31, 2024, an increase of 6.6%[33] Loss and Improvement - The net loss attributable to Digital Turbine, Inc. for the three months ended March 31, 2025, was $18,826 thousand, compared to a net loss of $236,506 thousand in the same period of 2024, showing an improvement of 92.0%[31] - The company experienced a comprehensive loss of $18,000 thousand for the three months ended March 31, 2025, compared to a comprehensive loss of $238,968 thousand for the same period in 2024, reflecting a reduction of 92.5%[31] - The company reported a basic net loss per common share of $0.18 for the three months ended March 31, 2025, compared to a basic net loss per common share of $2.32 for the same period in 2024, indicating a significant improvement[31] Future Outlook - The company expects fiscal year 2026 revenue to be between $515 million and $525 million, with non-GAAP adjusted EBITDA projected between $85 million and $90 million[12] - The CEO highlighted strong advertiser and partner demand, along with profit margin expansion, as key drivers for continued growth in fiscal 2026[3] - The company is making meaningful progress in utilizing AI and Machine Learning to optimize first-party data and explore new opportunities for Alternative Apps distribution[3] Shareholder Information - The weighted-average common shares outstanding for the three months ended March 31, 2025, were 105,427 thousand, compared to 101,974 thousand for the same period in 2024, an increase of 3.4%[31] - The company reported a foreign currency translation gain of $826 thousand for the three months ended March 31, 2025, compared to a loss of $2,462 thousand for the same period in 2024, indicating a positive shift in foreign exchange impact[31] Non-GAAP Metrics - Non-GAAP gross profit for the three months ended March 31, 2025, was $56,604 thousand, representing a gross profit margin of 48%, up from 46% in the same period of 2024[39] - Non-GAAP adjusted net income for the year ended March 31, 2025, was $36,837 thousand, down from $60,272 thousand in 2024[41] - Non-GAAP adjusted EBITDA for the three months ended March 31, 2025, increased to $20,462 thousand, compared to $12,301 thousand in the same period of 2024[43] - Non-GAAP free cash flow for the three months ended March 31, 2025, was $5,466 thousand, a significant improvement from a cash outflow of $15,637 thousand in 2024[45]

VIE Structure and Regulatory Risks - VIEs and VIE Subsidiaries contributed 84.9%, 82.6%, and 81.5% of net revenues for the fiscal years ending February 28, 2023, February 29, 2024, and February 28, 2025, respectively[28]. - The company relies on VIE Contractual Arrangements to control VIEs, which may not be as effective as direct ownership[37]. - The company is subject to risks associated with VIE structures, including potential penalties from the PRC government if regulations change[38]. - The company faces uncertainties regarding future PRC laws and regulations that could affect the enforceability of VIE Contractual Arrangements[38]. - The company has effective control over VIEs through various contractual agreements, including exclusive business service agreements and call option agreements[29]. - The company faces significant risks related to its corporate structure, as it operates as a Cayman Islands holding company with no equity ownership in the VIEs, which could lead to regulatory challenges in China[68]. - The company operates through a VIE structure, which faces regulatory risks that could lead to severe penalties or operational changes if deemed non-compliant by the PRC government[171]. - TAL Education Group relies on VIE Contractual Arrangements for operations in China, which may not provide effective control compared to direct ownership[178]. - The legal owners of the VIEs may have conflicts of interest that could adversely affect the company's business and financial condition[183]. - The company has entered into equity pledge agreements to secure obligations of the VIEs, but these may not be fully enforceable under PRC law[179]. - The PRC legal system's uncertainties could limit the company's ability to enforce VIE Contractual Arrangements, affecting business operations[181]. - The lack of priority pledges and liens against VIEs' assets poses risks, as third-party creditors may claim rights to these assets during liquidation proceedings[193]. - The PRC government's increased oversight over overseas offerings could result in material adverse changes in operations and the value of the company's ADSs[197]. Financial Performance - For the year ended February 28, 2025, total third-party net revenues reached $2,250,233, an increase from $1,490,440 in the previous year, representing a growth of approximately 51%[59]. - The net income for the year ended February 28, 2025, was $84,260, compared to a net loss of $4,138 for the year ended February 29, 2024, indicating a significant turnaround[59]. - Total current assets as of February 28, 2025, amounted to $4,126,920, up from $3,699,174 as of February 29, 2024, reflecting an increase of about 11.6%[61]. - The company reported net cash provided by operating activities of $397,923 for the year ended February 28, 2025, compared to a net cash used in operating activities of $71,919 in the previous year[62]. - Total liabilities decreased to $1,736,669 as of February 28, 2025, from $1,289,185 as of February 29, 2024, showing a reduction of approximately 34%[61]. - Cash and cash equivalents as of February 28, 2025, were $1,771,260, a decrease from $2,208,756 as of February 29, 2024, indicating a decline of about 19.7%[62]. - The company experienced a loss from equity method investments of $9,531 for the year ended February 28, 2025, compared to a loss of $6,242 in the previous year[59]. - Total costs and operating expenses for the year ended February 28, 2025, were $2,257,620, an increase from $1,576,114 in the previous year, representing a rise of approximately 43%[59]. - The company’s total equity as of February 28, 2025, was $3,766,398, compared to $3,638,764 as of February 29, 2024, reflecting a growth of about 3.5%[61]. - The company reported inter-company revenues of $534,960 for the year ended February 28, 2025, compared to $324,271 in the previous year, marking an increase of approximately 65%[59]. Regulatory Environment and Compliance - The PRC government has indicated an intent to exert more oversight over overseas offerings and foreign investments in China-based issuers, creating uncertainties regarding compliance[47]. - The Overseas Listing Trial Measures require domestic companies to file with the CSRC within three working days after completing a securities offering on a foreign stock exchange[47]. - The regulatory environment for after-school tutoring institutions in China has changed significantly, with new policies requiring these institutions to be registered as non-profit entities and prohibiting foreign ownership[81]. - The company is required to obtain and maintain various licenses and permits to operate its business in China, with substantial uncertainties regarding compliance due to evolving local regulations[84]. - The PCAOB's inability to inspect the company's auditor may affect investor confidence and the trading of its ADSs in the U.S.[74]. - The PCAOB has determined it can inspect registered public accounting firms in China and Hong Kong, removing the previous restrictions[224]. - The company was not identified as an SEC-Identified Issuer for the fiscal years ended February 28, 2023, and February 29, 2024[224]. - If identified as an SEC-Identified Issuer for two consecutive years, the company would face delisting from the NYSE and trading restrictions in the U.S.[225]. - The implementation of the HFCAA may cause investor uncertainty regarding the ability of China-based issuers to maintain U.S. listings, potentially affecting market prices[225]. - The company must comply with evolving cybersecurity and data privacy laws, with potential penalties for non-compliance that could harm its reputation and operations[133]. - The regulatory framework for generative AI is evolving, with new provisions requiring security assessments and compliance that may affect the company's operations[205]. - The company may face uncertainties regarding the interpretation and enforcement of new cybersecurity and data privacy regulations, impacting operational costs and legal compliance[198]. Operational Challenges and Market Conditions - The ability to develop new learning products under recent regulatory policies in China is critical for attracting prospective learners, and failure to do so may adversely affect business prospects[69]. - The company emphasizes the importance of maintaining and enhancing brand value, particularly for its "Xueersi" brand, to sustain competitive advantage and financial performance[78]. - The company is focused on executing growth strategies that include enhancing learning services and expanding geographic reach, but faces challenges in achieving these goals[76]. - There are uncertainties regarding the interpretation and implementation of PRC laws affecting the after-school tutoring industry, which could impact business operations[69]. - The company may face difficulties in expanding its market presence and obtaining necessary licenses, which could hinder growth opportunities[79]. - The company faces significant competition in the learning solutions market, which is rapidly evolving and highly fragmented, potentially impacting market share and profitability[87]. - The company has made investments to expand its global operations, which may not be successful and could negatively impact operating results[106]. - The company is subject to various risks associated with global expansion, including compliance with evolving laws and regulations in foreign jurisdictions[103]. - Seasonal fluctuations in learner enrollments may adversely affect the company's operating results and stock price[147]. - The company derives a significant portion of its revenues from a limited number of cities, including Beijing, Shanghai, Guangzhou, Shenzhen, and Tianjin, which poses risks if these markets experience negative events[99]. Legal and Reputational Risks - The company has been involved in legal proceedings, including shareholder class action lawsuits, which could adversely affect its reputation and financial condition[115]. - A complaint was filed against the company and its CEO for misrepresentations regarding compliance with Chinese laws between June 14, 2022, and March 14, 2023[119]. - The company is currently unable to estimate potential losses related to ongoing lawsuits, which could materially affect its financial condition and operations[120]. - The company faces ongoing contract disputes in China, with no ability to predict outcomes or estimate potential losses[121]. - The company may incur legal costs and reputational damage due to inappropriate or illegal content on its platforms, despite having content-monitoring technologies in place[94]. - The company’s brand image and trading price of its ADSs may be negatively impacted by adverse publicity or legal scrutiny[113]. - The company is subject to penalties for violations of advertising and promotional content regulations, which could harm its reputation and operations[125]. - The company may encounter disputes related to third-party intellectual property, which could result in costly litigation and harm its reputation[144]. Human Resources and Operational Capacity - The company may face challenges in recruiting, training, and retaining qualified teachers, which are critical to service delivery and reputation[95]. - The company may face challenges in attracting and retaining qualified personnel, which could impede revenue growth and operational expansion[109]. - The company has enhanced preventive measures to avoid accidents or injuries on its premises, but cannot guarantee future incidents will not occur[123]. - The company has experienced significant disruptions to its online platforms, which could adversely affect its ability to retain and increase learner enrollment[155]. Shareholder and Financial Obligations - TAL Education Group provided capital contributions of $1.4 million to its subsidiaries in China for the fiscal year ending February 28, 2025, compared to nil in the previous two years[51]. - The company’s ability to pay dividends is dependent on the dividends from its PRC subsidiaries and service fees from the VIEs and VIE Subsidiaries[48]. - The PRC subsidiaries are permitted to pay dividends only out of retained earnings, which are subject to PRC accounting standards and regulations[52]. - The company relies on dividends from subsidiaries to meet its payment obligations, which may be subject to legal limitations[150]. - The company may need additional capital to pursue business objectives, and financing may not be available on acceptable terms[151]. - The company has incurred share-based compensation expenses of $108.6 million, $88.9 million, and $64.9 million for the fiscal years ended February 28, 2023, February 29, 2024, and February 28, 2025, respectively[170]. - As of February 28, 2025, the unrecognized compensation expenses related to non-vested restricted shares amounted to $101.6 million, which will be recognized over a weighted-average period of 3.3 years[170]. - The company has granted 4,232,126 non-vested restricted Class A common shares and 980,266 share options to purchase Class A common shares under its share incentive plans[170].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ...

Financial Performance - Powerfleet, Inc. reported preliminary financial results for the fiscal year ended March 31, 2025[5]. - The company has not provided specific financial metrics or guidance in this report[5]. Business Integration and Strategy - The company is in the process of integrating its business with MiX Telematics and Fleet Complete, aiming to recognize anticipated synergies[7]. - The company emphasizes the importance of protecting its intellectual property amid competitive pressures[7]. Risks and Uncertainties - Forward-looking statements indicate potential impacts from tariffs and economic conditions on future performance[7]. - Risks include the loss of key customers and the failure of product markets to develop as expected[7]. - The report includes a cautionary note regarding the reliance on forward-looking statements due to inherent uncertainties[7]. Regulatory Compliance - The company plans to publicly update or revise forward-looking statements only as required by applicable securities law[8]. Management Information - David Wilson serves as the Chief Financial Officer of Powerfleet, Inc.[13]. Additional Information - The press release detailing financial results is included as Exhibit 99.1[10].