Market Signal Briefing

NEW YORK & NEW ORLEANS--(BUSINESS WIRE)--Kahn Swick & Foti, LLC (“KSF”) and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until November 17, 2025 to file lead plaintiff applications in a securities class action lawsuit against Cytokinetics, Incorporated (NasdaqGS: CYTK), if they purchased or otherwise acquired the Company's securities between December 27, 2023 and May 6, 2025, inclusive (the “Class Period”). This action is pendi.

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Air Industries (AIRI - Free Report) came out with a quarterly loss of $0.01 per share versus the Zacks Consensus Estimate of a loss of $0.22. This compares to a loss of $0.12 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +95.45%. A quarter ago, it was expected that this maker of parts for the aerospace industry and defense contractors would post a loss of $0.15 per share when it actually produced a loss of $0.11, delivering a surprise of +26.67%.

Over the last four quarters, the company has surpassed consensus EPS estimates two times.

Air Industries, which belongs to the Zacks Aerospace - Defense industry, posted revenues of $10.31 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 3.09%. This compares to year-ago revenues of $12.56 million. The company has topped consensus revenue estimates two times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Air Industries shares have lost about 26.8% since the beginning of the year versus the S&P 500's gain of 14.6%.

What's Next for Air Industries?While Air Industries has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Air Industries was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.02 on $13.5 million in revenues for the coming quarter and -$0.61 on $48.29 million in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Aerospace - Defense is currently in the top 37% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Woodward (WWD - Free Report) , another stock in the broader Zacks Aerospace sector, has yet to report results for the quarter ended September 2025. The results are expected to be released on November 24.

This maker of cockpit controls and other equipment for the defense and aerospace markets is expected to post quarterly earnings of $1.83 per share in its upcoming report, which represents a year-over-year change of +29.8%. The consensus EPS estimate for the quarter has been revised 0.7% higher over the last 30 days to the current level.

Woodward's revenues are expected to be $935.8 million, up 9.5% from the year-ago quarter.

FGI Industries Ltd. (FGI - Free Report) came out with quarterly earnings of $0.13 per share, beating the Zacks Consensus Estimate of a loss of $0.43 per share. This compares to a loss of $0.05 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +130.23%. A quarter ago, it was expected that this company would post a loss of $0.3 per share when it actually produced a loss of $0.6, delivering a surprise of -100%.

Over the last four quarters, the company has surpassed consensus EPS estimates two times.

FGI Industries, which belongs to the Zacks Retail - Home Furnishings industry, posted revenues of $35.85 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 0.42%. This compares to year-ago revenues of $36.1 million. The company has topped consensus revenue estimates three times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

FGI Industries shares have added about 29.6% since the beginning of the year versus the S&P 500's gain of 14.6%.

What's Next for FGI Industries?While FGI Industries has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for FGI Industries was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.74 on $35.2 million in revenues for the coming quarter and -$2.14 on $135.1 million in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Retail - Home Furnishings is currently in the top 37% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

One other stock from the same industry, Lovesac (LOVE - Free Report) , is yet to report results for the quarter ended October 2025.

This company is expected to post quarterly loss of $0.70 per share in its upcoming report, which represents a year-over-year change of -118.8%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Lovesac's revenues are expected to be $153.81 million, up 2.6% from the year-ago quarter.

Swedish defense firm Saab said on Friday it has signed a contract worth 3.1 billion euros ($3.62 billion) with the Colombian government to deliver 17 Gripen fighter jets between 2026 and 2032.

, /PRNewswire/ -- Conrad Industries, Inc. (OTCID: CNRD) announced today its third quarter and nine months ended September 30, 2025 financial results and backlog at September 30, 2025.

For the quarter ended September 30, 2025, Conrad had net income of $5.5 million and earnings per diluted share of $1.09 compared to net income of $7.5 million and earnings per diluted share of $1.49 during the third quarter of 2024. The Company had net income of $15.2 million and earnings per diluted share of $3.02 for the nine months ended September 30, 2025 compared to net income of $11.2 million and earnings per diluted share of $2.24 for the nine months ended September 30, 2024. Net income recognized in the third quarter and first nine months of 2024 included collection of an $8.04 million judgment in a lawsuit, which increased Other Income by $8.04 million and net income by approximately $5.8 million. The Company's financial reports are available at www.otcmarkets.com.

During the first nine months of 2025, Conrad signed $123.4 million in contracts in its new construction segment compared to $218.4 million added to backlog during the first nine months of 2024. Conrad's backlog was $196.0 million at September 30, 2025, $293.8 million at December 31, 2024 and $282.2 million at September 30, 2024. Since September 30, 2025, the Company has signed an additional $46.8 million in contracts.

Conrad Industries, Inc., established in 1948 and headquartered in Morgan City, Louisiana, designs, builds and overhauls a wide variety of steel marine vessels, including barges, dredges and dredge support equipment, tugboats, ferries, drydocks, liftboats, offshore supply vessels and other steel products for both commercial and government customers. The Company provides conversion, repair and new construction services at its five shipyards located in southern Louisiana and Texas.

For Information Contact:
Scott Thomas (985) 702-0195
[email protected] 

SOURCE Conrad Industries, Inc.

Q3: 2025-11-13 Earnings SummaryEPS of -$0.23 misses by $0.11

 |

Revenue of

$47.03M

(-27.10% Y/Y)

misses by $5.89M

Fluent, Inc. (FLNT) Q3 2025 Earnings Call November 13, 2025 4:30 PM EST

Company Participants

Donald Patrick - Chief Executive Officer
Ryan Perfit - CFO and Principal Financial & Accounting Officer

Conference Call Participants

Matthew Weber - Canaccord Genuity Corp., Research Division
Patrick Sholl - Barrington Research Associates, Inc., Research Division
William Dezellem - Tieton Capital Management, LLC

Presentation

Operator

Good afternoon, and welcome. Thank you for joining us to discuss Fluent's Third Quarter 2025 Earnings Results. With me today are Fluent's Chief Executive Officer, Don Patrick; Chief Financial Officer, Ryan Perfit, and Chief Strategy Officer, Ryan Schulke. Our call today will begin with comments from Don Patrick and Ryan Perfit, followed by a question-and-answer session. I would like to remind you that this call is being webcast live and recorded. A replay of the event will also be made available following the call on Fluent's website.

To access the webcast, please visit the Investor Relations page at www.fluentco.com. Before we begin, I would like to advise listeners that certain information discussed by management during this conference call will contain forward-looking statements covered under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any forward-looking statements made during this call only speak as of the date hereof. Actual results could differ materially from those stated or implied by such forward-looking statements due to risks and uncertainties associated with the company's business. These statements may be identified by words such as expects, plans, projects, could, will, estimates and other words of similar meaning. The company undertakes no obligation to update the information provided on this call.

For a discussion of the risks and uncertainties associated with Fluent's business, we encourage you to review the company's filings with the Securities and Exchange Commission, including the company's most recent annual report on

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Q3: 2025-11-14 Earnings SummaryEPS of -$0.07 misses by $0.07

 |

Revenue of

$30.50M

(34.31% Y/Y)

beats by $185.20K

Bit Digital, Inc. (BTBT) Q3 2025 Earnings Call November 14, 2025 9:00 AM EST

Company Participants

William Schnier - Head of Investor Relations
Samir Tabar - Chief Executive Officer
Erke Huang - CFO, Secretary & Director

Conference Call Participants

George Sutton - Craig-Hallum Capital Group LLC, Research Division
Brian Dobson - Clear Street LLC
Kevin Dede - H.C. Wainwright & Co, LLC, Research Division
Henry Hearle
Mike Grondahl - Northland Capital Markets, Research Division
Patrick McCann - NOBLE Capital Markets, Inc., Research Division

Presentation

Operator

Hello, and welcome to the Bit Digital Third Quarter 2025 Earnings Conference Call. Good morning, good afternoon and good evening, depending on where you are joining us from. We'll begin shortly. [Operator Instructions]. As a reminder, today's call is being recorded. I'll now turn the call over to your host, Cameron Schnier, Head of Investor Relations at Bit Digital. Please go ahead.

William Schnier
Head of Investor Relations

Thank you, and welcome to the Bit Digital Third Quarter 2025 Earnings Call. Joining me on the call today are Sam Tabar, our Chief Executive Officer; and Erke Huang, our Chief Financial Officer.

Before we begin, I'd like to remind everyone that certain statements made during today's call may be considered forward-looking. These statements involve risks and uncertainties that could cause actual results to differ materially from those projected. For a discussion of those risks, please refer to our filings with the SEC, including our Form 10-Q filed today.

Our remarks today may also include non-GAAP financial measures. Reconciliations of those measures to the most directly comparable GAAP figures can be found in our Form 10-Q, which is available on our website. After our prepared remarks, we'll open the call for Q&A. With that, I'll hand the phone over to Sam to discuss our performance. Sam?

Samir Tabar
Chief Executive Officer

Thank

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SAN DIEGO, Nov. 14, 2025 (GLOBE NEWSWIRE) --

Company: Fiserv, Inc. (NYSE: FI) is a Milwaukee, Wisconsin-based global payments and financial technology provider.

What is the class period? July 23, 2025 and October 29, 2025

What is the case about? Robbins LLP reminds stockholders that a class action was filed on behalf of all investors who purchased or otherwise acquired Fiserv, Inc. during the class period because the Company allegedly misled investors regarding its 2025 financial growth.

For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.

What are the allegations? According to the complaint, in July 2025, Fiserv revised its 2025 guidance, including lowering its organic revenue growth guidance based on a review, termed a “re-underwrit[ing],” of the Company’s new initiatives and products. The Company told investors that although certain of those initiatives and projects were delayed, they were fundamentally sound.

However, the complaint alleges that Fiserv’s representations to the market in July 2025 were false and misleading. On October 29, 2025, Fiserv announced disappointing third quarter 2025 financial results and admitted that the Company’s 2025 guidance disclosed in July 2025 was based on “assumptions . . . which would have been objectively difficult to achieve even with the right investment and strong execution.” In addition, Fiserv disclosed that it had during the third quarter conducted a full review of its new initiatives and products—conceding that the prior “re-underwrit[ing]” was incomplete—and “made the decision to deprioritize the short-term revenue and expense initiatives.” On this news, the price of Fiserv’s common stock plummeted $55.57 per share, or 44%, from a closing price of $126.17 per share on October 28, 2025 to a closing price of $70.60 on October 29, 2025.

What can you do now? You may be eligible to participate in the class action against Fiserv, Inc. Shareholders who wish to serve as lead plaintiff for the class must submit their papers to the court by January 5, 2026. The lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.

All representation is on a contingency fee basis. Shareholders pay no fees or expenses.

About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002.

To be notified if a class action against Fiserv, Inc. settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today.

Attorney Advertising. Past results do not guarantee a similar outcome.

November 14, 2025 6:36 PM EST | Source: Bri-Chem Corp.
Edmonton, Alberta--(Newsfile Corp. - November 14, 2025) - Bri-Chem Corp. (TSX: BRY) ("Bri-Chem" or "Company"), a leading North American oilfield chemical distribution and blending company, is pleased to announce its 2025 third quarter financial results.

Three months endedNine months ended

September 30

Change

September 30

Change
(in '000s except per share amounts)
2025

2024

$

%

2025

2024

$

%
Financial performance

Sales$18,194
$21,975
$(3,781)

(17%)
$58,637
$ 62,452
$ (3,815)

(6%)
Adjusted EBITDA(1)
836

588

248

42%

2,346

851

1,495

176%
As a % of revenue
5%

3%

4%

1%

Operating earnings
576

234

342

146%

1,324

710

614

87%
Adjusted net (loss) / earnings (1)
16

(549)

565

(103%)

(542)

(2,900)

2,358

(81%)
Net earnings / (loss)$160
$(269)
$429

(159%)
$(95)
$(2,263)
$2,168

(96%)
Per diluted share

Adjusted EBITDA (1)$0.03
$0.02
$0.01

50%
$0.09
$0.03
$0.06

200%
Adjusted net earnings / (loss) (1)$-
$(0.02)$0.02

(93%)
$(0.02)$(0.11)$0.09

(82%)
Net earnings / (loss)$0.01
$(0.01)$0.02

(134%)
$(0.00)$(0.09)$0.09

(100%)
Financial position
 

 

 

 

 

 

 

 
Total assets
 

 

 

 
$48,855
$57,101
$(8,246)
(14%)
Working capital
 

 

 

 

10,790

13,740

(2,950)
(21%)
Long-term debt
 

 

 

 

6,331

6,564

(233)
(4%)
Shareholders equity
 

 

 

 
$19,547
$21,248
$(1,701)
(8%)
(1) Non-GAAP financial measure. Refer to "Non-GAAP Financial Measures" in this press release.

Key Q3 2025 highlights include:

Consolidated sales for the three months ended September 30, 2025 were $18.2 million, representing a 17% decrease from the prior year. The decrease is primarily due to decreased sales in the fluids distribution division in tandem with lower rig counts in North America.Consolidated gross margin for the three months ended September 30, 2025 decreased by $180 thousand compared to the same period last year. The gross margin dollar decrease is primarily related to the decreased realized margin percentage Canada for blending & packaging division. Adjusted EBITDA for the third quarter 2025 increased by $247 thousand when compared to the same period in the prior year and operating earnings increased by $342 thousand for the three months ended September 30, 2025 compared to the prior year due to a decrease in bad debt expense.Adjusted net earnings per diluted share for the three months ended September 30, 2025 was nil per share compared to adjusted net loss of $0.02 per diluted share for same period last year. Working capital, as at September 30, 2025, was $10.8 million compared to $13.7 million on September 30, 2024, a decrease of 21%. The decrease in working capital relates to a significant decrease in accounts receivables and inventory which was offset by decreased bank indebtedness.Summary for the three months ended September 30, 2025:

Consolidated sales for the three months ended September 30, 2025 were $18.2 million compared to $22 million for the same period in 2024, representing a $3.8 million decrease over the comparable period. Revenue was impacted by lower fluid distribution sales, arising from the sale of a customer to a competitor and the subsequent discontinuation of services to the new group.

Bri-Chem's Canadian drilling fluids distribution division generated sales of $2.3 million for the three months ended September 30, 2025, which was lower than the comparable prior period by 41%. The number of Canadian active operating land rigs in Q3 2025 averaged 176, compared to 206 in the same period last year representing a decrease of approximately 15% (Source: Baker Hughes). Bri-Chem's United States drilling fluids distribution division generated sales of $9.5 million for the three months ended September 30, 2025, compared to sales of $11.7 million for the comparable period in 2024, representing a quarterly decrease of 19%. The active number of US operating land rigs in Q3 2025 averaged 525, compared to a 2024 Q3 average of 565 representing a decrease of approximately 7% (Source: Baker Hughes).

Bri-Chem's Canadian blending and packaging division generated sales of $3.7 million for the three months ended September 30, 2025, compared to Q3 2024 sales of $4.6 million, representing a quarterly decrease of 19%. The decrease in sales relates to 3rd party contract work realized in 2024 that was diminished or discontinued in the current period. US blending and packaging sales for the three months ended September 30, 2025 were $2.7 million compared to $1.8 million in the prior year. The 49% increase is due to an increase in cementing activities in the California region.

Operating earnings for the three months ended September 30, 2025 was $576 thousand which is an increase from earnings of $234 thousand in the same period in the prior year. Adjusted EBITDA was $836 thousand for Q3 2025 compared to $588 thousand for Q3 2024. The increase is primarily driven by a lower expense realized across operating expenses as Management continues to streamline operations and reduce overhead. Adjusted EBITDA as a percentage of sales was 5% for the quarter, which is an increase from 3% in Q3 2024.

OUTLOOK

Bri-Chem anticipates a measured but improving operating environment as the North American energy sector adjusts to ongoing commodity price volatility, evolving political and regulatory pressures, and a cautious yet gradually recovering capital spending cycle. According to the latest Baker Hughes forecasts, total rig activity in both Canada and the United States is expected to remain relatively stable through the remainder of 2025, with modest growth emerging in early 2026 as producers begin to increase drilling and completion programs in response to improved price stability and demand fundamentals.

In Canada, drilling activity is projected to follow historical seasonal trends, with winter drilling providing a moderate uplift in fluids demand through early 2026. However, overall volumes are expected to remain below pre-pandemic averages due to restrained capital budgets and project deferrals in certain basins. By mid-2026, a return to more normalized activity levels is anticipated as operators gain confidence in forward pricing and regulatory clarity improves.

In the United States, rig counts are expected to stabilize and gradually strengthen over the next year, led by consistent investment in the Permian Basin and incremental growth in other key regions such as the Rockies and Mid-Continent. These trends are expected to support steady demand for Bri-Chem's drilling fluid distribution business and create opportunities for incremental market share gains in select basins.

Against this backdrop, Bri-Chem will continue to prioritize liquidity preservation, disciplined working capital management, and cost efficiency to sustain margin performance in a competitive pricing environment. The Company's proactive financial management and strong banking relationships will remain central to its ability to navigate market fluctuations and pursue growth selectively where returns justify investment.

Following Bri-Chem's Annual General Meeting in September 2025, the Company welcomed a new Board of Directors with a renewed mandate to drive operational performance, strengthen governance, and enhance long-term shareholder value. Collectively, the new Board brings over 100 years of combined experience in the chemical industry, offering deep sector knowledge and valuable insights that will help guide Bri-Chem's strategic direction and operational focus in the years ahead.

In conjunction with this leadership transition, Bri-Chem will undertake a comprehensive strategic review of all business units. This initiative is designed to evaluate performance, profitability, and long-term alignment with the Company's core objectives. The outcomes of this review are expected to shape future organizational priorities, improve capital allocation, and position Bri-Chem as a leaner, more profitable, and strategically focused entity heading into 2026 and beyond.

Management remains committed to operating with agility and discipline as it monitors commodity price trends, customer spending behaviors, and regulatory developments across North America. With a renewed strategic focus, strengthened leadership, and a stabilizing market outlook, Bri-Chem is well positioned to capture value as industry conditions gradually improve over the coming year.

About Bri-Chem

Bri-Chem has established itself, through a combination of strategic acquisitions and organic growth, as the North American industry leader for wholesale distribution and blending of oilfield drilling, completion, stimulation and production chemical fluids. We sell, blend, package and distribute a full range of drilling fluid products from 23 strategically located warehouses throughout Canada and the United States. Additional information about Bri-Chem is available at www.sedarplus.ca or at Bri-Chem's website at www.brichem.com.

Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking information or forward-looking statements (collectively, "forward-looking statements"). These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking statements and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially.

Although the Company believes that the expectations and assumptions on which such forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. By their nature, such forward-looking statements are subject to various risks and uncertainties, which could cause actual results to differ materially from the anticipated results or expectations expressed herein. These risks and uncertainties, include, but are not limited to general economic conditions, prevailing and anticipated industry conditions, access to debt and equity financing on acceptable terms, levels and volatility of commodity prices, maintained demand for drilling fluids, market forces, ability to achieve geographic expansion through new warehouse locations, anticipated impact of new warehouse locations, ability to obtain equipment from suppliers, ability to maintain negotiating power with suppliers and customers, ability to obtain and retain skilled personnel, competition from other industry participants and regulatory conditions. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this press release or otherwise. Except as required by applicable law, the Company does not undertake any obligation to publicly update or to revise any of the forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.

Non-GAAP Financial Measures

Bri-Chem uses certain measures in this press release which do not have any standardized meaning as prescribed by International Financial Reporting Standards ("IFRS"). These measures, which are derived from information reported in the Company's financial statements, may not be comparable to similar measures presented by other reporting issuers. Investors are cautioned that these measures should not be construed as an alternative to net earnings and operating earnings determined in accordance with IFRS, and these measures should not be considered to be more meaningful than IFRS measures in evaluating the Company's performance. These measures have been described and presented in this press release in order to provide shareholders and potential investors with additional information regarding the Company. These Non-IFRS measures are identified and defined as follows:

Adjusted Net Earnings (Loss), Adjusted Net Earnings (Loss) per share, Adjusted EBITDA, and Adjusted EBITDA per share.

Adjusted Net Earnings (Loss) are defined as net earnings/(loss) before non-recurring events, net of corporate income taxes ("Adjusted Net Earnings"). Adjusted Net Earnings (Loss) per share is defined as Adjusted Net Earnings (Loss) divided by diluted weighted average common shares. Management believes that in addition to net earnings, Adjusted Net Earnings (Loss) and Adjusted Net Earnings (Loss) per share are useful supplemental measures that represent normalized net earnings (loss) from the business so that financial statement users can make insightful comparisons between current periods and historical results.

Adjusted EBITDA is defined as earnings before interest, taxes, depreciation, amortization, impairment charges, share-based payments, and non-recurring events ("Adjusted EBITDA"). Adjusted EBITDA per share is defined as Adjusted EBITDA divided by diluted weighted average common shares. Management believes that in addition to net earnings, Adjusted EBITDA and Adjusted EBITDA per share are useful supplemental measures of operating performance that normalize financing, depreciation, income tax, and other non-recurring charges which are not controlled at the operating level. The following table provides a reconciliation of Net Earnings under IFRS, as disclosed in the interim financial statements, to Adjusted Net Earnings and Adjusted EBITDA:

Three months ended

 Nine months ended

September 30

 

September 30
(in 000's)
2025

2024

 2025

2024
Net earnings (loss)$160
$(269)
$(95)$(2,263)Less:
 

 

  

 
Deferred tax (recovery)
(144)
(280)
 (447)
(637)Adjusted net earnings (loss)
16

(549)
 (542)
(2,900)Add:
 

 

  

 
Financing costs
570

788

 1,952

2,670
Income tax expense
(27)
41

 38

116
Depreciation and amortization
276

308

 898

965
Adjusted EBITDA$836
$588

$2,346
$851
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/274670

November 14, 2025 6:38 PM EST | Source: The Rosen Law Firm PA
New York, New York--(Newsfile Corp. - November 14, 2025) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of RCI Hospitality Holdings, Inc. (NASDAQ: RICK) between December 15, 2021 and September 16, 2025, both dates inclusive (the "Class Period"), of the important November 20, 2025 lead plaintiff deadline in the securities class action first filed by the Firm.

SO WHAT: If you purchased RCI Hospitality securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the RCI Hospitality class action, go to https://rosenlegal.com/submit-form/?case_id=44953 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than November 20, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved, at that time, the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made materially false and/or misleading statements and/or failed to disclose that: (1) defendants engaged in tax fraud; (2) defendants committed bribery to cover up the fact that they committed tax fraud; (3) as a result, defendants understated the legal risk facing RCI Hospitality; and (4) as a result, defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the RCI Hospitality class action, go to https://rosenlegal.com/submit-form/?case_id=44953 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm.

Attorney Advertising. Prior results do not guarantee a similar outcome.

-------------------------------

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/274661

ClearSign Technologies (CLIR - Free Report) came out with a quarterly loss of $0.03 per share versus the Zacks Consensus Estimate of a loss of $0.04. This compares to a loss of $0.02 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +25.00%. A quarter ago, it was expected that this combustion systems technology company would post a loss of $0.04 per share when it actually produced a loss of $0.03, delivering a surprise of +25%.

Over the last four quarters, the company has surpassed consensus EPS estimates two times.

ClearSign, which belongs to the Zacks Industrial Services industry, posted revenues of $1.03 million for the quarter ended September 2025, missing the Zacks Consensus Estimate by 28.04%. This compares to year-ago revenues of $1.86 million. The company has not been able to beat consensus revenue estimates over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

ClearSign shares have lost about 39.9% since the beginning of the year versus the S&P 500's gain of 14.6%.

What's Next for ClearSign?While ClearSign has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for ClearSign was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.03 on $2.02 million in revenues for the coming quarter and -$0.14 on $3.99 million in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Industrial Services is currently in the bottom 21% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the broader Zacks Industrial Products sector, Powell Industries (POWL - Free Report) , has yet to report results for the quarter ended September 2025. The results are expected to be released on November 18.

This energy equipment company is expected to post quarterly earnings of $3.76 per share in its upcoming report, which represents a year-over-year change of -0.3%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Powell Industries' revenues are expected to be $292.85 million, up 6.5% from the year-ago quarter.

November 14, 2025 17:25 ET

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Dundee Corporation

TORONTO, Nov. 14, 2025 (GLOBE NEWSWIRE) -- “This quarter, we delivered strong net earnings that reflected the first full quarter of royalty revenue from the Borborema Gold Project and substantial investment gains across our mining portfolio.”, said Jonathan Goodman, President and Chief Executive Officer of Dundee Corporation. “With recurring cash flow now beginning to support our core cost base, we are in a stronger position to redeploy capital toward growth – reinforcing our ability to deliver sustained shareholder value.”

“The announced acquisition of Maritime Resources by New Found Gold marks another pivotal validation of our long-term investment strategy.” Mr. Goodman continued. “We recognized the intrinsic value of Maritime early and supported the company through market cycles. The transaction highlights our ability to identify exceptional assets ahead of the broader market – and positions us to participate in the upside of a synergistic combined platform. We continue to support our core holdings where disciplined capital and technical insight remain central to unlocking value in the underlying assets.”

Mr. Goodman concluded: “We ended the quarter with a strong cash position, no debt at the parent level, and a growing royalty revenue stream that will strengthen our financial position going forward. We are proud of the disciplined execution that has positioned us for this next phase of growth and remain focused on seizing new opportunities to bring future cash flow into Dundee and building lasting value for our shareholders. None of this progress would be possible without the dedication, focus and sharp execution of our team – they continue to be the driving force behind everything we achieve.”

THIRD QUARTER AND FIRST NINE MONTHS OF 2025 RESULTS

During the third quarter of 2025, the mining investment segment recognized royalty revenue of $0.7 million from the Borborema Gold Project (“Borborema”). Aura Minerals Inc. (“Aura”) announced that commercial production on Borborema had been achieved on September 22, 2025, with ramp-up activities expected to continue through the remainder of 2025. In the third quarter and during the first nine months of 2025, Aura sold 9,373 and 10,563 gold equivalent gold ounces, respectively, from Borborema. Reported net income from all portfolio investments for the third quarter of 2025 of $84.0 million (2024 – $10.1 million). The key drivers of the current quarter’s positive performance include the $25.7 million and $16.8 million fair value gains on investments in Saturn Metals Limited (“Saturn Metals”) and Ausgold Limited (“Ausgold”), respectively. For the nine months ended September 30, 2025, the Corporation reported net income from portfolio investments of $129.6 million (2024 – $68.0 million). Consistent with the quarterly performance, the key drivers of the current year’s performance include the $36.5 million and $24.5 million fair value gains on investments in Saturn Metals and Ausgold, respectively. In addition, the Corporation sold its remaining stake in G Mining Ventures Corp. for $45.3 million cash proceeds and recognized a $14.2 million gain in the current year.  
On November 13, 2025, New Found Gold Corp. (“New Found Gold”) announced the completion of the transaction to acquire all of the issued and outstanding shares of Maritime Resources Corp. (“Maritime”), and Maritime shareholders received 0.75 of a share of New Found Gold for each existing Maritime share held. The Corporation will cease to account for its investment in Maritime using the equity method in the fourth quarter and transition to accounting for its newly received shares of New Found Gold as part of its mining portfolio investments measured at fair value. As at September 30, 2025, the fair value of the Corporation’s ownership of Maritime shares was $117.5 million, based on a publicly observable quoted market price. On November 12, 2025, Maritime announced the first gold pour from its Hammerdown Gold Project, a significant milestone marking the project’s successful transition from development activities into initial production.Reported share of income from equity accounted investments of $9.0 million for the third quarter of 2025 (2024 – $1.4 million). The $9.0 million share of income included a $5.9 million dilution gain recognized from the Corporation’s ownership in Magna Mining Inc. having been reduced from 21% at the end of June 2025 to 18% at the end of the third quarter. For the nine months ended September 30, 2025, the Corporation recognized income from equity accounted investments of $17.6 million (2024 – loss of $0.5 million).In October 2025, the Corporation participated in a AUD$45.0 million private placement announced by Saturn Metals, with Dundee purchasing 8.3 million shares in exchange for AUD$4.8 million. Saturn Metals indicates that it will use the proceeds from this private placement to advance their Apollo Hill Gold Project through pre-feasibility and publication of a maiden ore reserve in 2025, followed by a definitive feasibility study targeted for the second half of 2026, as well as to fund regional exploration activities. Reported consolidated general and administrative expenses for the third quarter of 2025 of $4.0 million (2024 – $4.3 million). Excluding share-based compensation of $0.9 million (2024 – $0.8 million), consolidated general and administrative expenses declined 7.6% year-over-year. For the nine months ended September 30, 2025, the Corporation reported consolidated general and administrative expenses of $12.8 million (2024 – $12.5 million).Reported net earnings attributable to owners of the Corporation for the third quarter of 2025 of $90.6 million (2024 – $7.3 million), or earnings per share on a diluted basis of $0.92 (2024 – $0.07). For the nine months ended September 30, 2025, the Corporation reported net earnings attributable to owners of the Corporation of $135.0 million (2024 – $67.3 million), or earnings per share on a diluted basis of $1.38 (2024 – $0.69).
SEGMENTED FINANCIAL RESULTS  

Mining Investments

In the third quarter of 2025, the Corporation reported net earnings before taxes from the mining investments segment of $91.4 million (2024 – $10.4 million). Performance from the mining portfolio investments generated income of $81.8 million (2024 – $9.0 million). The share of income from equity accounted mining investments during the third quarter of 2025 was $9.0 million (2024 – $0.7 million). Drivers of performance are described in the highlights above. During the same period, the Corporation reported net income from its royalty interest in the Borborema Gold Project of $430,000, which included $668,000 of royalty revenue.

During the first nine months of 2025, the Corporation reported net earnings before taxes from the mining investments segment of $148.4 million (2024 – $65.8 million). Performance from the mining portfolio investments generated income of $130.1 million (2024 – $65.1 million). The share of income from equity accounted mining investments during the first nine months of 2025 was $17.5 million (2024 – loss of $0.1 million).

Corporate and others

The Corporation reported net earnings before taxes from the corporate and others segment, including non-core subsidiaries, of $0.4 million (2024 – loss of $2.0 million) during the three months ended September 30, 2025. The fair value of non-mining portfolio investments in the corporate and others segment increased by $2.2 million (2024 – $1.2 million) during the third quarter of the current year and was driven almost exclusively by the investment revaluation of Dundee’s ownership in TauRx Pharmaceuticals Ltd. During the same period, the segment’s non-mining equity accounted investments reported pre-tax loss of $10,000 (2024 – earnings of $0.7 million).

During the first nine months of 2025, the Corporation reported a pre-tax loss from the corporate and others segment of $10.6 million (2024 – earnings of $6.0 million). The fair value of non-mining portfolio investments in the segment decreased by $0.6 million (2024 – increased by $2.8 million). During the same period, the segment’s non-mining equity accounted investments reported pre-tax earnings of $0.1 million (2024 – loss of $0.4 million).

Mining Services

During the third quarter of 2025, the mining services segment, comprised of the Corporation’s 78%-owned subsidiary, Dundee Sustainable Technologies Inc. (“Dundee Technologies”), reported a pre-tax loss of $0.1 million (2024 – $0.8 million). During the first nine months of 2025, this segment reported a pre-tax loss of $2.4 million (2024 – $3.4 million).

As at September 30, 2025, Dundee Technologies borrowed an aggregate of $6.1 million pursuant to several borrowing arrangements, of which a $5.7 million convertible debenture entered into with Investissement Québec (“IQ”) matured on May 15, 2025, as scheduled under its contractual terms. Subsequent to quarter-end, Dundee Technologies received the executed and signed debt settlement agreement from IQ. Pursuant to the agreement, the Corporation, as the guarantor, paid $1.1 million to settle the outstanding $5.7 million convertible debenture issued by IQ.

SHAREHOLDERS’ EQUITY ON A PER SHARE BASIS

        Carrying value as at  September 30, 2025    December 31, 2024   Mining Investments       Portfolio investments $              193,925  $                95,490  Equity accounted investments                    60,368                    30,013  Royalty                    18,653                    18,921                   272,946                  144,424  Corporate and Others       Corporate                   48,365                    32,976  Portfolio investments ‒ other                   69,473                    70,495  Equity accounted investments ‒ other                           -                    30,240  Real estate joint ventures                    2,219                     2,364  Subsidiaries                   (1,134)                    3,403  Equity accounted investment ‒ Held-for-Sale                   30,340                            -                   149,263                  139,478  Mining Services       Subsidiaries                      (548)                       (208)                       (548)                       (208)  SHAREHOLDERS' EQUITY ATTRIBUTABLE TO CLASS A SUBORDINATE SHARES       AND CLASS B SHARES OF THE CORPORATION $              421,661  $              283,694         Number of shares of the Corporation issued and outstanding:        Class A Subordinate Shares            86,867,071             86,269,735   Class B Shares              3,114,491               3,114,491  Total number of shares issued and outstanding            89,981,562             89,384,226         SHAREHOLDERS' EQUITY ON A PER SHARE BASIS  $                   4.69  $                   3.17         The Corporation’s unaudited interim consolidated financial statements as at and for the three and nine months ended September 30, 2025 and 2024, along with the accompanying management’s discussion and analysis, have been filed on the System for Electronic Document Analysis and Retrieval (“SEDAR”) and may be viewed by interested parties under the Corporation’s profile at www.sedarplus.ca or the Corporation’s website at www.dundeecorporation.com.

ABOUT DUNDEE CORPORATION:

Dundee Corporation is a public Canadian independent mining-focused holding company, listed on the Toronto Stock Exchange under the symbol “DC.A”. The Corporation is primarily engaged in acquiring mineral resource assets. The Corporation operates with the objective of unlocking value through strategic investments in mining projects globally. Our team conducts due diligence in order to assess the geological, technical, environmental, and financial merits and risks of each project and looks to deploy capital where it can either seek to generate investment returns or where the Corporation can collaborate with operating partners and take strategic partnerships through direct interests in mining operations.

FORWARD-LOOKING STATEMENTS:

This press release may contain forward-looking information within the meaning of applicable securities legislation, which reflects Dundee Corporation’s current expectations regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond Dundee Corporation’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to, the factors discussed under “Risk Factors” in the Annual Information Form of Dundee Corporation and subsequent filings made with securities commissions in Canada. Dundee Corporation does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

FOR FURTHER INFORMATION PLEASE CONTACT:

Investor and Media Relations
T: (416) 864-3584
E: [email protected]

Analyst’s Disclosure:I/we have a beneficial long position in the shares of BXSL either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

November 14, 2025 17:30 ET

 | Source:

Consolidated Lithium Metals Inc.

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

TORONTO, Nov. 14, 2025 (GLOBE NEWSWIRE) -- Consolidated Lithium Metals Inc. (TSXV: CLM) (FRA: Z36) (“CLM” or the “Company”) is pleased to announce that is closed its previously announced non-brokered private placement (the “Offering”) of units (the “Units”) at a price of $0.06 per Unit. The Company issued a total 57,361,667 Units for aggregate gross proceeds of approximately $3,441,700.

Each Unit comprises one common share in the capital of the Company and one common share purchase warrant (each, a “Warrant”). Each Warrant entitles the holder to purchase one common share of the Company at a price of $0.10 per share commencing on January 14, 2026 until November 14, 2028.

The Units distributed in connection with the Offering were issued and sold pursuant to the “Listed Issuer Financing Exemption” available under Part 5A of National Instrument 45-106 - Prospectus Exemptions (“NI 45-106”) and other exemptions under 45-106. All Units issued under the Listed Issuer Exemption are not subject to a hold period pursuant to applicable Canadian securities laws and all Units issued under other exemptions under NI 45-106 are subject to a statutory four-month hold period pursuant to applicable Canadian securities laws.

In connection with the Offering, the Company paid Integrity Capital Group finder fees equal to $250,000 and issued a total of 4,000,000 finder warrants (“Finder Warrants”). Each Finder Warrant entitles the holder thereof to purchase one common share of the Company at a price of $0.10 per common share until November 14, 2028. The Finder’s Warrants and common shares issuable upon exercise of the Finder’s Warrants, are subject to a statutory four-month hold period pursuant to applicable Canadian securities laws.

The net proceeds from the sale of the Units will be used to advance exploration activity of the Company’s lithium properties in Québec and for working capital and general corporate purposes, as more particularly described in the Company’s offering document under the Company’s profile at www.sedarplus.ca.

The Offering remains subject to the final acceptance of the TSX Venture Exchange.

Related Party Disclosure

Certain insiders of the Company subscribed for a total of approximately $150,000 Units. The participation by insiders constitutes “related party transactions” within the meaning of Multilateral Instrument 61-101 - Protection of Minority Shareholders in Special Transactions (“MI 61-101”). The Company has relied on applicable exemptions from the formal valuation and minority approval requirements in Sections 5.5(a) and 5.7(1)(a), respectively, of MI 61-101. No new insiders were created, nor has there been any change of control, as a result of the Offering. The Company did not file a material change report with respect to the insider participation more than 21 days before the expected closing of the Offering, as the details and amounts of the insider participation were not finalized until closer to the closing and the Company wished to close the transaction as soon as practicable for sound business reasons.

The securities described herein have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the U.S. or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. 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 the securities in any State in which such offer, solicitation or sale would be unlawful.

About Consolidated Lithium Metals

CLM is a Canadian junior mining exploration company trading under the symbol “CLM” on the TSX Venture Exchange and “Z36” on the Frankfurt Stock Exchange. The Company is focused on the exploration and development of critical mineral projects in stable jurisdictions. The Company is committed to supporting the energy transition through the responsible development of critical mineral supply chains.

Additional information on CLM can be found on its website at: www.consolidatedlithium.com and by reviewing its profile on SEDAR+ at www.sedarplus.ca.

For Further Information, Contact:

Rene Bharti
Vice President Corp. Dev.
Email: [email protected] 
Phone: +1 (647) 965 2173
Website: www.consolidatedlithium.com

Advisors: Wildeboer Dellelce LLP acted as legal counsel for CLM in respect of the Offering.

Cautionary Statement on Forward-Looking Information

This news release contains "forward-looking information", which may include, but is not limited to, statements with respect to anticipated business plans or strategies, including the Offering, regulatory and final TSXV approvals of the Offering and the intended use of proceeds of the Offering. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of CLM to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including risks related to: regulatory approvals, such as approval of the TSXV of the Offering; general business, economic, competitive, political, social, and market conditions; accidents, labour disputes and shortages; and other risks of the mining industry. Forward-looking statements contained herein are made as of the date of this press release and CLM disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.

NEITHER 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.

SINGAPORE, Nov. 14, 2025 (GLOBE NEWSWIRE) -- Genius Group Limited (NYSE American: GNS) (“Genius Group” or the “Company”), a leading AI-powered, Bitcoin-first education group, today announced it has filed a Class Action Complaint in the United States District Court for the Southern District of New York alleging that Citadel Securities LLC, and Virtu Americas LLC (the "Defendants") engaged in a long-running market manipulation scheme that includes spoofing and naked short selling of the Company’s shares and related acts in violation of Section 10(b), Sections 9(a)(2) and 9(e) and Section 20(a) of the Securities Exchange Act of 1934.

The Company believes the lawsuit sets a number of precedents with regards to the protection of shareholder interests and the Company. As such, the Company is taking action to recover damages caused due to alleged market manipulation:

This lawsuit is a Class Action Complaint filed on behalf of the Company and ALL of its investors who sold Genius Group stock at artificially deflated prices as a result of Defendants’ alleged abuses. Pursuing a class action will help the Company facilitate a recovery not just for Genius Group’s losses, but for all its harmed shareholders as well. The Company will ask the Court to appoint it “lead plaintiff” in the class action, so that the Company can effectively manage the litigation and diligently work to protect its shareholders’ interests. The class action complaint filed today that Defendants engaged in longstanding and widespread manipulative trading scheme centered on repeatedly “spoofing” Genius Group stock. “Spoofing” is a manipulative and illegal trading practice that involves submitting and then cancelling buy or sell orders without any genuine intent to execute them. The purpose of these “baiting orders” is to mislead other market participants about the level of supply and/or demand for a security, or about the degree of price volatility associated with a security, and thereby influence market prices for that security.

The complaint alleges that for a period of at least three years – between April 12, 2022 and May 30, 2025 (the “Class Period”) – Defendants repeatedly entered thousands of spoofing trades designed to create the false impression that there was both excess supply and excess volatility in Genius stock. The Company has confirmed that the lawsuit seeks at least the previously reported no less than $250 million in damages.

These manipulative orders were calculated to (and successfully did) deceive or induce other investors to sell their holdings at artificially deflated prices. In particular, the complaint alleges:

On 98% of all trading days during the Class Period, Defendants repeatedly entered spoofing trades designed to manipulate the price of Genius stock. Defendants entered dozens – sometimes thousands – of such trades on a given trading day, canceling them within milliseconds of placement.Defendants repeatedly built massive short positions through off-exchange trading over a few trading days, and then bombarded the market with spoofing trades (baiting orders canceled within 100 milliseconds of placement) causing significant declines in the price of Genius Group stock.Less than a minute after these baiting orders were placed, Defendants sold significant volumes of Genius stock short through off-exchange trading.Defendants also engaged in significant naked short-selling, i.e., improper short sales that are unsupported by existing market inventory. Indeed, major declines in Genius Group stock were also accompanied by large spikes in evidence of such activity. In filing this class action, Genius Group is demonstrating its commitment to its shareholders and the Company intends to work diligently to protect their interests.

Roger James Hamilton, CEO of Genius Group, said “We have been consistent in calling for fair markets and taking actions to protect our shareholders. The filing of this lawsuit is an important milestone for the company in what has been a long, multi-year fight to protect the company and its shareholders and expose unfair and illegal practices that our investors have dealt with.”

“Even today, multiple brokers have taken away the buy button on Genius shares while leaving the sell button, making it hard to buy but easy to sell our stock without providing adequate explanation as to why they are choosing to target our company. We give notice to any and all bad actors seeking to profit at the expense of our shareholders that we will continue to take forceful, proactive action to defend our company.”

The Company and its legal team will continue to provide updates to its shareholders on this case as appropriate. The Company also reminds shareholders of the record date of November 28, 2025 to transfer shares via the Direct Registration System (DRS) to book entry with the Company’s transfer agent, VStock in order to benefit from the Bitcoin Loyalty Payment program, designed to reduce the number of Company shares available to short sellers. Full details of the program can be found here.

About Genius Group

Genius Group (NYSE: GNS) is a Bitcoin-first business delivering AI powered, education and acceleration solutions for the future of work. Genius Group serves 6 million users in over 100 countries through its Genius City model and online digital marketplace of AI training, AI tools and AI talent. It provides personalized, entrepreneurial AI pathways combining human talent with AI skills and AI solutions at the individual, enterprise and government level. To learn more, please visit https://www.geniusgroup.ai/

Forward-Looking Statements 

Statements made in this press release include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements can be identified by the use of words such as “may,” “will”, “plan,” “should,” “expect,” “anticipate,” “estimate,” “continue,” or comparable terminology. Such forward-looking statements are inherently subject to certain risks, trends and uncertainties, many of which the Company cannot predict with accuracy and some of which the Company might not even anticipate and involve factors that may cause actual results to differ materially from those projected or suggested. Readers are cautioned not to place undue reliance on these forward-looking statements and are advised to consider the factors listed above together with the additional factors under the heading “Risk Factors” in the Company's Annual Reports on Form 20-F, as may be supplemented or amended by the Company's Reports of a Foreign Private Issuer on Form 6-K. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise. No information in this press release should be construed as any indication whatsoever of the Company’s future revenues, results of operations, or stock price.

November 14, 2025 17:30 ET

 | Source:

Avicanna Inc.

TORONTO, Nov. 14, 2025 (GLOBE NEWSWIRE) -- Avicanna Inc. (“Avicanna” or “Company”) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN) a biopharmaceutical company focused on the development, manufacturing, and commercialization of plant-derived cannabinoid-based products is pleased to announce and report the results of Q3 2025.

Management Commentary:

“Q3 reflects the continued progress of our strategy to build a diversified and sustainable biopharmaceutical business. We are pleased with the impact of our medical affairs initiatives and the strengthened engagement within the Canadian medical community, which have contributed to consecutive quarters of revenue growth in Canada. We also continued to translate our scientific leadership into tangible value through new IP and global collaborations. Despite short-term margin pressures, we remain confident in our path toward sustainable profitability as we stay focused on disciplined execution and delivering long-term value for our shareholders,” stated Aras Azadian, CEO of Avicanna Inc.

Q2 2025 Financial Highlights:

Revenue: The Company generated revenue of $6.40 million and $18.88 million for the three- and nine-month periods ended September 30, 2025. Canadian revenue increased by 4%, marking a second consecutive quarter of revenue growth across Canadian business units. This is a direct result of increased investment in medical affairs initiatives. International revenue also increased by approximately 6% as compared to the second quarter of 2025.Gross Profit and Margin: Gross profit of $3.15 million and $9.88 million for the three and nine-month periods. Resulting in gross margins of 49% and 52%, respectively. This represents a short-term reduction in gross margin from 57% for the prior year three-month period and is due to non-recurring costs, the Canada Post strike and one-time adjustments. The nine-month margin represents a slight improvement from 50% in the prior period and was largely a result of sales mix changes from product sales to licensing and service revenue. Adjusted EBITDA: The Company reported an adjusted EBITDA loss of $0.79 million which marks a decrease over the respective three-month period in 2024. The nine-month adjusted EBITDA loss was $0.61 million, which marks a slight improvement over the nine-month period loss of $0.72 million during 2024. The short-term reduction in adjusted EBITDA is largely a result of the reduction in gross margins attributed to non-recurring factors and one-time corrections.
Other Q3 2025 Corporate Highlights:

Canadian commercial advancements: Canadian commercial advancements in the third quarter across all business units resulted in record sale of 62,987 units, representing a 39% increase compared to the same period in 2024. At the end of the third quarter the Company had 52 commercial SKU’s and 174 commercial listings across medical and adult use channels, representing 29% growth in total listings from Q3 2024, and 18% growth from Q2 2025. The MyMedi.ca platform delivered its second consecutive quarter of growth driven by Medical Affairs efforts. Other Canadian business units including B2B Medical achieved a 113% increase in products sold. In addition, the Adult-Use business unit entered into three new provinces and territories including Newfoundland, Yukon and the Northwest Territories.Avicanna Announces USPTO Issuance of Patent covering topical cannabinoid compositions for clear skin: The United States Patent & Trademark Office issued patent No. US 12,343,315 B2, covering a topical gel formulation that is comprised of cannabinoids in combination with antioxidants, anti-microbial agents, and anti-inflammatory agents, and in reference to its potential in treating and preventing skin diseases and conditions including, but not limited to, acne, wrinkles, rosacea and erythema.Avicanna Subsidiary Completes Export of CBD Dominant Cannabis Flower into Switzerland: This marked the first export of organic certified flower for SMGH, the 20th international market for Aureus branded products and the 23rd market for all Avicanna products. This was the result of improvements to the SMGH infrastructure and expansion of the Aureus portfolio to meet the growing demand of medical cannabis flower in Europe and Australia.Avicanna LATAM SAS and Harrington Wellness Launch re+PLAY CBD Wellness Brand Topicals in the United States: re+PLAY is a CBD wellness brand founded by NBA veteran Al Harrington, with products that utilize Avicanna’s patented and proprietary CBD formulations. Initial product offerings include a 3% CBD localized cream and the 2% CBD and 1% CBG transdermal gel employing Avicanna’s patented deep tissue technology. The CBD and CBG used in the formulations were derived from USDA organic certified hemp cultivated in Avicanna’s subsidiary Santa Marta Golden Hemp SAS and manufactured by Avicanna LATAM SAS’s team in Colombia.
About Avicanna:

Avicanna is a commercial-stage international biopharmaceutical company focused on the advancement and commercialization of cannabinoid-based products and formulations for the global medical and pharmaceutical market segments. Avicanna has an established scientific platform including R&D and clinical development leading to the commercialization of more than thirty proprietary, evidence-based finished products and supporting four commercial stage business pillars.

Medical Cannabis formulary (RHO Phyto™): The formulary offers a diverse range of proprietary products including oral, sublingual, topical, and transdermal deliveries with varying ratios of cannabinoids, supported by ongoing patient and medical community education. RHO Phyto is an established brand in Canada currently available nationwide across several channels and expanding into new international markets.Medical cannabis care platform (MyMedi.ca): MyMedi.ca is a medical cannabis care platform formed with the aim to better serve medical cannabis patients’ needs and enhance the medical cannabis patients’ journey. MyMedi.ca is operated by Northern Green Canada Inc. and features a diverse portfolio of products and bilingual pharmacist-led patient support programs. MyMedi.ca also provides specialty services to distinct patient groups such as veterans and collaborates with public and private payers for adjudication and reimbursement. MyMedi.ca provides educational resources to the medical community to facilitate the incorporation of medical cannabis into health care regimens.Pharmaceutical pipeline: Leveraging Avicanna’s scientific platform, vertical integration, and real-world evidence, Avicanna has developed a pipeline of proprietary, indication-specific cannabinoid-based candidates that are in various stages of clinical development. These cannabinoid-based candidates aim to address unmet needs in the areas of dermatology, chronic pain, and various neurological disorders.Active pharmaceutical ingredients (Aureus Santa Marta™): Active pharmaceutical ingredients supplied by the Company’s majority owned subsidiary Santa Marta Golden Hemp SAS (“SMGH”) is a commercial-stage business dedicated to providing various forms of high-quality CBD, THC and CBG to the Company’s international partners for use in the development and production of food, cosmetics, medical, and pharmaceutical products. SMGH also forms part of the Company’s supply chain and is a source of reliable input products for its consumer retail, medical cannabis, and pharmaceutical products globally.
SOURCE Avicanna Inc. 

Stay Connected 

For more information about Avicanna, visit our website or contact Ivana Maric by email at [email protected]. 

Cautionary Note Regarding Forward-Looking Information and Statements

This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information contained in this news release may be identified by the use of words such as, “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe”, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook” and other similar expressions. Forward-looking information contained in this news release includes, without limitation, statements with respect to the Company’s future business operations, the opinions or beliefs of management and future business goals. Although the Company believes that the expectations and assumptions on which such forward looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to current and future market conditions, including the market price of the common shares of the Company, and the risk factors set out in the Company’s annual information form dated April 11, 2025, filed with the Canadian securities regulators and available under the Company’s profile on SEDAR+ at www.sedarplus.ca. The statements in this news release are made as of the date of this release. The Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

Shares of ticket reseller StubHub (STUB) plunged Friday after the company declined to provide guidance for the current quarter with its first earnings report as a public company.

Carolyn Capaccio

Thank you, operator. Good morning, everyone. Today's presentation contains forward-looking statements within the meaning of federal securities laws. Forward-looking statements include statements with respect to PowerFleet's beliefs, plans, goals, objectives, expectations, anticipations, assumptions, estimates, intentions and future performance and involve known and unknown risks, uncertainties and other factors, which may be beyond PowerFleet's control and which may cause actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements.

All statements other than statements of historical facts are statements that could be forward-looking statements. For example, forward-looking statements include statements regarding prospects for additional customers, potential contract values, market forecasts, projections of earnings, revenues, synergies, accretion or other financial information, emerging new products and plans, strategies and objectives of management for future operations, including growing revenue, controlling operating costs, increasing production volumes and expanding business with core customers. The risks and uncertainties referred to above include, but are not limited to, risks detailed from time to time in PowerFleet's filings with the Securities and Exchange Commission, including PowerFleet's annual report on Form 10-K for the year ended March 31, 2025.

These risks could cause actual results to differ materially from those expressed in any forward-looking statements made by or on

CNBC's Phil LeBeau joins 'Closing Bell Overtime'  with the latest on the air traffic pullbacks.

Here are some of the major companies whose stocks moved on the week's news.

November 14, 2025 5:36 PM EST | Source: The Rosen Law Firm PA
New York, New York--(Newsfile Corp. - November 14, 2025) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of common stock of Inspire Medical Systems, Inc. (NYSE: INSP) between August 6, 2024 and August 4, 2025, both dates inclusive (the "Class Period"), of the important January 5, 2026 lead plaintiff deadline.

SO WHAT: If you purchased Inspire Medical common stock during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Inspire Medical class action, go to https://rosenlegal.com/submit-form/?case_id=21452 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than January 5, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved, at that time, the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, throughout the Class Period, defendants misrepresented and failed to disclose key facts about Inspire V, a sleep apnea device, including the actual market demand for the device and whether Inspire Medical had taken the steps necessary to launch it. Defendants issued a series of materially false and misleading statements that led investors to believe that demand for Inspire V was strong and that Inspire Medical had taken the necessary steps for a successful launch. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Inspire Medical class action, go to https://rosenlegal.com/submit-form/?case_id=21452 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

-------------------------------

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/274650

Walmart Inc. (WMT) CEO Doug McMillon will retire at the end of January after nearly 12 years leading the nation's largest retailer, according to a company filing released Friday. John Furner, currently Walmart's U.S. CEO, will take over as head of the company on February 1, according to the filing.

November 14, 2025 5:39 PM EST | Source: The Rosen Law Firm PA
New York, New York--(Newsfile Corp. - November 14, 2025) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of common stock of James Hardie Industries plc (NYSE: JHX) between May 20, 2025 through August 18, 2025, both dates inclusive (the "Class Period") of the important December 23, 2025 lead plaintiff deadline.

SO WHAT: If you purchased James Hardie common stock during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the James Hardie class action, go to https://rosenlegal.com/submit-form/?case_id=46976 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 23, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved, at that time, the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, James Hardie Industries plc misled investors about the strength of its key North America Fiber Cement segment between May 20 and August 18, 2025. Despite knowing by April and early May that distributors were destocking inventory, James Hardie falsely claimed demand remained strong and that stock levels were "normal." When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the James Hardie class action, go to https://rosenlegal.com/submit-form/?case_id=46976 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

-------------------------------

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/274651

November 14, 2025 16:30 ET

 | Source:

BGIN Blockchain Limited

SINGAPORE, Nov. 15, 2025 (GLOBE NEWSWIRE) -- BGIN BLOCKCHAIN LIMITED (“BGIN” or the “Company”; NASDAQ: BGIN), a digital asset technology company with proprietary cryptocurrency mining technologies and an innovator in cryptocurrency mining hardware and infrastructure, today released its unaudited financial results for the six months ended June 30, 2025 (“1H 2025”).

1H 2025 Financial Highlights

Total revenue was US$47.7 million, compared with US$144.5 million in the same period of 2024.Mining revenue increased by 164.4% year-over-year to US$30.8 million.Gross loss was US$6.3 million, compared with gross profit of US$84.8 million in the same period of 2024. Management Commentary

“The first half of 2025 presented significant headwinds for the alternative crypto mining sector, primarily driven by a sharp decline in the market price of KAS coin,” said Mr. Allen Qingfeng Wu, Chief Executive Officer of BGIN. “This directly impacted the demand for our mining machines, which has historically been our primary revenue source. In response, we executed a strategic pivot, reallocating resources away from low margin mining pool revenue stream and significantly scaling our self-mining operations. This is reflected in our mining revenue, which grew by 164% to $30.8 million in 1H 2025, demonstrating our operational flexibility.”

Mr. Pengju Wang, Co-Chief Financial Officer of BGIN, added, “Our financial results for the period reflect the challenging market conditions, particularly the contraction in high-margin machine sales. However, we have taken decisive actions to preserve our strong liquidity position. Our focus remains on strategic capital allocation towards our proprietary R&D and mining farm investment, which we believe is the key to value creation and long-term competitiveness in this cyclical industry.”

1H 2025 Unaudited Financial Results

Total revenues were US$47.7 million, compared with US$144.5 million in the same period of 2024.

Mining revenue was US$30.8 million, an increase of 164.4% from US$11.6 million. This was primarily due to the Company’s expanded deployment of KAS mining machines, increasing the number of machines in operation.Revenue from sales of mining machines was US$9.7 million, compared with US$94.9 million from the same period of 2024. The change was primarily due to the decrease in the market price of KAS, which resulted in significantly lower demand and the number of units sold (6,618 units sold in 1H 2025 vs. 47,252 in 1H 2024).Revenue from hosting services was US$2.3 million, compared with US$2.1 million from the same period of 2024, remaining largely stable year-over-year.Revenue from mining pool was US$4.8 million, compared with US$35.8 million from the same period of 2024. The change was due to the Company’s strategic decision in February 2025 to shift its mining pool operations primarily for internal use due to its lower gross profit margin and limited long-term strategic value. Costs of revenue were US$54.0 million in 1H 2025, a decrease of 9.6% from US$59.7 million in 1H 2024. The decrease reflected lower costs of mining machine sales and mining pool costs, offset by a significant increase in self-mining costs, due to higher electricity rates and depreciation from the increased machine deployment.

Gross loss was US$6.3 million in 1H 2025, compared to a gross profit of US$84.8 million in the same period of 2024. The negative swing was primarily driven by the margin compression in machine sales and the gross loss from the scaled self-mining operations, where increased revenue was offset by even higher operational costs.

Operating costs and expenses were US$55.1 million in 1H 2025, an increase of 582.8% from US$8.1 million in the same period of 2024. The increase was primarily due to a US$19.1 million non-cash impairment charge on property and equipment, a US$13.3 million increase in the change in fair value of cryptocurrencies, and higher research and development and general and administrative expenses.

Basic & diluted net loss per share was US$0.56 in 1H 2025, compared to basic & diluted net income per share of US$0.59 in the same period of 2024.

About BGIN BLOCKCHAIN LIMITED

BGIN BLOCKCHAIN LIMITED (NASDAQ: BGIN) is a digital asset technology company with proprietary cryptocurrency-mining technologies that leverages its experience in designing ASIC chips and mining machines to penetrate new cryptocurrency opportunities and executing on long term strategic focus on self-mining. BGIN’s mission is to make crypto mining accessible to all by developing innovative products tailored to various market needs, from beginners to large-scale industrial miners. BGIN designs and manufactures mining machines under its ICERIVER brand, providing customers with operational flexibility through advanced mining infrastructure and hosting services.

Safe Harbor Statement

This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to,” and similar statements. Statements that are not historical facts, including statements about BGIN’s beliefs, plans, and expectations, are forward-looking statements. Although BGIN 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, and BGIN cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results set forth in BGIN’s filings with the U.S. Securities and Exchange Commission (the “SEC”). Additional factors are discussed in BGIN’s filings with the SEC, which are available for review at www.sec.gov. All information provided in this press release is as of the date of this press release, and BGIN does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For investor and media inquiries, please contact:

BGIN BLOCKCHAIN LIMITED

Investor Relations
[email protected]
Robin Yang
[email protected]

Media Relations
[email protected]
Brad Burgess
[email protected]

BGIN BLOCKCHAIN LIMITED
CONDENSED CONSOLIDATED BALANCE SHEETS
AS OF JUNE 30, 2025 AND DECEMBER 31, 2024
(US$, except share data, or otherwise noted)
         June 30,
2025  December 31,
2024   US$  US$   (Unaudited)    Assets      Current Assets      Cash and cash equivalents  23,906,114   114,804,348 Inventories  23,437,790   12,491,133 Prepaid expenses  30,049,159   9,188,914 Other receivable  4,538,348   8,945,986 Deferred issuance costs  1,517,669   795,797 Due from related parties  1,447,421   101,336 Intangible assets – cryptocurrencies  50,975,122   32,143,476 Rights to receive cryptocurrencies  —   16,193,593 Cryptocurrencies loan receivable  5,000,000   — Cryptocurrencies held as collateral  6,557,368   — Total current assets  147,428,991   194,664,583 Non-current assets        Deposits and other non-current assets  2,680,439   1,834,897 Right of use assets  326,549   431,707 Deferred income tax assets  2,112,353   2,112,353 Property and equipment, net  42,304,537   71,744,370 Total assets  194,852,869   270,787,910          LIABILITIES AND SHAREHOLDERS’ EQUITY        Liabilities:        Current liabilities        Accounts payable and accrued liabilities  5,372,174   7,190,436 Taxes payable  35,331,370   51,845,186 Contract liabilities  470,176   952,340 Due to related party  26,840   10,363 Operating lease liability  288,886   322,388 Other payables  168,552   281,898 Obligation to return collateral  6,557,368   — Total current liabilities  48,215,366   60,602,611          Operating lease liability – non current  37,812   123,015 Total liabilities  48,253,178   60,725,626          Commitments and contingencies        Shareholders’ equity        Class A ordinary shares, $0.0000695652173913043 par value, 852,581,250 shares authorized, 85,581,566 and 85,258,128 issued and outstanding as of June 30, 2025 and December 31, 2024, respectively (1)  —   — Class B ordinary shares, $0.0000695652173913043 par value, 225,543,750 shares authorized, 22,554,375 and 22,554,375 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively (1)  —   — Additional paid-in capital  1,943,128   — Retained earnings  144,537,194   209,954,196 Accumulated other comprehensive income  (244,059)  (244,059)Total shareholders’ equity  146,236,263   209,710,137 Non-controlling interest  363,428   352,147 Total liabilities and shareholders’ equity  194,852,869   270,787,910  (1)The number of ordinary shares has been retrospectively adjusted for the 1-for-10 share subdivision effected on February 3, 2025 (the “February 2025 Share Subdivision”), the increase of share capital effected on February 3, 2025 (the “Share Capital Increase”) and the issuance of the an aggregate of 19,770,000 Class A ordinary shares and 5,230,000 Class B ordinary shares on February 3, 2025 to existing shareholders of BGIN BLOCKCHAIN LIMITED on a pro rata basis (the “Share Issuance”), and the 1-for-1.4375 share subdivision effected on July 16, 2025 (the “July 2025 Share Subdivision”) BGIN BLOCKCHAIN LIMITED
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)
FOR THE SIX MONTHS ENDED JUNE 30, 2025 AND 2024
(US$, except share data, or otherwise noted)
         For The
Six Months Ended
June 30,
2025  For The
Six Months Ended
June 30,
2024   US$  US$   (Unaudited)  (Unaudited) Revenues:      Mining revenue  30,797,322   11,649,316 Sales of machines  9,733,185   94,947,127 Hosting revenue  2,311,069   2,131,656 Mining pool revenue  4,822,098   35,755,832 Total Revenue  47,663,674   144,483,931 Costs of Revenues:        Costs of mining revenue  39,903,509   4,985,782 Costs of sales of mining machines  7,494,999   17,742,554 Costs of hosting revenue  1,799,401   1,569,095 Costs of mining pool revenue  4,774,340   35,406,898 Total costs of revenue  53,972,249   59,704,329 Gross profit (loss)  (6,308,575)  84,779,602          Operating costs and expenses:        Selling expenses  290,862   386,181 General and administrative  13,477,903   2,627,482 Research and development  7,496,308   5,585,754 Unrealized gain on futures contracts  —   (101,921)Realized loss on futures contracts  560,492   732,177 Rewards earned from crypto short-term investments (right to receive cryptocurrencies)  (254,563)  (2,267,279)Change in fair value of cryptocurrencies  14,374,757   1,102,968 Impairment of property and equipment  19,124,349   — Total operating costs and expenses  55,070,108   8,065,362          Income (loss) from operations  (61,378,683)  76,714,240          Other (income) expenses:        Foreign exchange loss  172,275   356,260 Other income - interest income  (900,549)  (465,395)Other (income) expense, net  (413,735)  88,833 Total other income  (1,142,009)  (20,302)         Income (loss) before provision for income taxes  (60,236,674)  76,734,542          Current income tax expenses  169,047   13,158,563 Income taxes expense  169,047   13,158,563          Net income (loss)  (60,405,721)  63,575,979 Net income attributable to non-controlling interest  11,281   177,852 Net income (loss) attributable to ordinary shareholders  (60,417,002)  63,398,127 Total  (60,405,721)  63,575,979          Foreign currency translation adjustment – gain (loss)  —   — Comprehensive income (loss)  (60,405,721)  63,575,979 Comprehensive income attributable to non-controlling interest  11,281   177,852 Comprehensive income (loss) attributable to ordinary shareholders  (60,417,002)  63,398,127 Total  (60,405,721)  63,575,979          Basic & diluted net income (loss) per share  (0.56)  0.59          Weighted average number of ordinary shares-basic and diluted  108,059,102   107,812,503  BGIN BLOCKCHAIN LIMITED
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE SIX MONTHS ENDED JUNE 30, 2025 AND 2024
         For The
Six Months Ended
June 30,
2025  For The
Six Months Ended
June 30,
2024   US$  US$   (Unaudited)  (Unaudited) Cash Flows from Operating Activities:      Net income (loss)  (60,405,721)  63,575,979 Adjustments for items not affecting cash:        Depreciation  12,289,371   2,083,794 Inventories provision and write-off  5,410,874   — Impairment of property and equipment  19,124,349   — Change in fair value of cryptocurrencies  14,374,757   1,102,968 Cryptocurrencies mined  (35,815,800)  (47,405,148)Net loss from disposal of fixed assets  104,438   — Share-based payment  244,550   —  Employee compensation settled by cryptocurrencies  568,700   206,523 Expenses settled by cryptocurrencies  3,658,812   782,320 Cryptocurrencies paid to mining pool participants  4,608,876   35,406,898 Cryptocurrencies received from mining machines revenue  (9,203,336)  (88,839,341)Cryptocurrencies received from hosting revenue  (2,153,822)  (1,869,200)Unrealized gain from cryptocurrency futures contracts  —   (101,921)Realized loss on futures contracts  560,492   732,177 Rewards earned from crypto short-term investments (right to receive cryptocurrencies)  (133,382)  (2,267,279)Interest from crypto loan  (121,181)  — Non-cash operating leases expense  (13,546)  (11,738)Credit loss  5,395,306   — Changes in operating assets and liabilities        Accounts receivable  —   2,807,030 Inventories  (16,357,530)  (20,393,918)Prepaid expenses and other assets  (24,069,629)  (47,338,111)Other receivable  1,292,578   (5,207,298)Due from related party  (1,229,274)  — Accounts payable and accrued liabilities  (1,818,263)  3,237,324 Contract liabilities  (27,746)  337,824 Taxes payable  (16,513,816)  13,092,592 Other payables  (113,347)  (659,940)Net cash used in operating activities  (100,343,290)  (90,728,465)         Cash Flows from Investing Activities:        Purchase of property and equipment  (2,078,324)  (1,703,618)Proceeds received from sale of cryptocurrencies  16,175,915   95,603,186 Net cash provided by investing activities  14,097,591   93,899,568          Cash Flows from Financing Activities:        Proceeds from (repayments) of related parties  117,814   (142,767)Payments of issuance costs for IPO  (721,872)  (60,543)Dividend paid  (4,051,000)  — Capital contribution from shareholders  2,523   — Net cash used in financing activities  (4,652,535)  (203,310)         Effect of foreign exchange rate changes  —   — Net increase (decrease) in cash, cash equivalents  (90,898,234)  2,967,793 Cash and cash equivalents, beginning of period  114,804,348   46,696,859 Cash and cash equivalents, end of period  23,906,114   49,664,652          SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION:        Income taxes paid  (16,682,863)  (65,971)Cryptocurrencies converted into Tether (USDT)  (9,881,814)  (9,181,396) Cryptocurrencies invested in short-term investments  (29,192,850)  (107,615,447)Cryptocurrencies paid to borrower  (5,000,000)  — Redemption of cryptocurrency short-term investments  45,519,825   46,315,325 Cryptocurrencies deposited as margins for futures contracts  —   (2,299,682)Cryptocurrencies received from related party  —   158,454 Cryptocurrencies used for payments of due to related party  (218,147)  — Cryptocurrencies used for payments of dividends  (949,000)  (5,000,000)Cryptocurrency due from third party  1,779,651   — Right of use assets acquired in exchange for operating lease liabilities  68,056   362,168