Track market-moving stories before they get noisy

GUADALAJARA, Mexico, May 04, 2026 (GLOBE NEWSWIRE) -- Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE: PAC; BMV: GAP) (“the Company” or “GAP”) reports that, following the announcement made by Spirit Airlines on May 2 regarding the immediate cessation of its operations, the Company has conducted an assessment of the potential impact on its airports.

Spirit Airlines did not operate at any of the Mexican airports managed by GAP. In Jamaica, its participation represented a limited portion of total passenger traffic, accounting for approximately 3.5% of passenger traffic in Kingston and 2.6% in Montego Bay.

Spirit’s operations at both airports were concentrated on routes to Florida, specifically Fort Lauderdale, Miami, and Orlando, markets that currently have available capacity served by other airlines, including JetBlue, American Airlines, and Southwest Airlines.

GAP does not maintain any material exposure arising from accounts receivable with Spirit Airlines. As of this date, the outstanding balances owed by the airline are fully covered by bank guarantees and cash deposits; therefore, there will be no financial impact.

GAP will continue to closely monitor developments in the Jamaican air travel market and will remain in communication with authorities and airlines to facilitate the reallocation of capacity on the affected routes, with the objective of preserving connectivity and minimizing any operational impact.

Company Description

Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) operates 12 airports throughout Mexico’s Pacific region, including the major cities of Guadalajara and Tijuana, the four tourist destinations of Puerto Vallarta, Los Cabos, La Paz and Manzanillo, and six other mid-sized cities: Hermosillo, Guanajuato, Morelia, Aguascalientes, Mexicali, and Los Mochis. In February 2006, GAP’s shares were listed on the New York Stock Exchange under the ticker symbol “PAC” and on the Mexican Stock Exchange under the ticker symbol “GAP”. In April 2015, GAP acquired 100% of Desarrollo de Concessioner Aeroportuarias, S.L., which owns a majority stake in MBJ Airports Limited, a company operating Sangster International Airport in Montego Bay, Jamaica. In October 2018, GAP entered into a concession agreement for the Norman Manley International Airport operation in Kingston, Jamaica, and took control of the operation in October 2019.

This press release may contain forward-looking statements. These statements are statements that are not historical facts and are based on management’s current view and estimates of future economic circumstances, industry conditions, company performance, and financial results. The words “anticipates”, “believes”, “estimates”, “expects”, “plans” and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations, and the factors or trends affecting financial condition, liquidity, or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends, or results will occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.

In accordance with Section 806 of the Sarbanes-Oxley Act of 2002 and Article 42 of the “Ley del Mercado de Valores”, GAP has implemented a “whistleblower” program, which allows complainants to anonymously and confidentially report suspected activities that involve criminal conduct or violations. The telephone number in Mexico, facilitated by a third party responsible for collecting these complaints, is 800 04 ETICA (38422) or WhatsApp +52 55 6538 5504. The website is www.lineadedenunciagap.com or by email at [email protected]. GAP’s Audit Committee will be notified of all complaints for immediate investigation.

Alejandra Soto Investor Relations and Social Responsibility [email protected]  Gisela Murillo, Investor [email protected]
+52 33 3880 1100 ext. 20294

GUADALAJARA, Mexico, May 05, 2026 (GLOBE NEWSWIRE) -- Grupo Aeroportuario del Pacífico, S.A.B. de C.V., (NYSE: PAC; BMV: GAP) (“the Company” or “GAP”) announces preliminary terminal passenger traffic figures for April 2026, compared with April 2025.

During April 2026, the 12 Mexican airports operated by GAP recorded a 6.3% decrease in total passenger traffic compared to April 2025. Guadalajara airport reported an increase of 0.9%, while Puerto Vallarta, Tijuana and Los Cabos reported a decrease of 17.0%, 10.5%, and 8.1%, respectively, compared to April 2025. With respect to GAP’s airports in Jamaica, Kingston recorded a decrease of 6.0%, while Montego Bay recorded a decrease of 22.0%, as a result of disruptions caused by Hurricane Melissa.

Domestic Terminal Passengers (in thousands):

AirportApr-25Apr-26% ChangeJan - Apr 25Jan - Apr 26% ChangeGuadalajara1,067.51,066.2(0.1%)4,088.64,101.80.3% Tijuana*748.6671.7(10.3%)2,806.12,640.2(5.9%)Los Cabos254.6240.9(5.4%)923.5869.2(5.9%)Puerto Vallarta278.4255.1(8.4%)932.0899.9(3.4%)Montego Bay0.00.0N/A0.00.0N/AGuanajuato194.0179.1(7.7%)709.6689.9(2.8%)Hermosillo184.4166.0(10.0%)693.1646.6(6.7%)Kingston0.00.0(28.0%)0.10.7610.9% Morelia60.258.3(3.2%)246.3251.22.0% La Paz111.8123.210.2% 392.4437.011.4% Mexicali105.090.5(13.8%)398.2350.2(12.0%)Aguascalientes53.355.13.5% 205.1194.0(5.4%)Los Mochis66.560.8(8.6%)231.6224.1(3.2%)Manzanillo10.79.9(7.4%)45.542.8(6.0%)Total3,135.22,976.9(5.0%)11,672.011,347.7(2.8%)  International Terminal Passengers (in thousands):

AirportApr-25Apr-26% ChangeJan - Apr 25Jan - Apr 26% ChangeGuadalajara452.9467.23.2% 1,959.91,959.3(0.0%)Tijuana*351.1312.8(10.9%)1,366.01,210.4(11.4%)Los Cabos442.9400.1(9.7%)1,825.81,772.8(2.9%)Puerto Vallarta375.7287.5(23.5%)1,848.21,566.4(15.2%)Montego Bay430.4335.6(22.0%)1,769.41,252.9(29.2%)Guanajuato84.372.2(14.3%)347.4330.1(5.0%)Hermosillo6.16.914.2% 27.028.97.0% Kingston155.0145.7(6.0%)583.0560.5(3.9%)Morelia56.064.915.9% 230.2280.722.0% La Paz3.04.655.2% 11.717.247.2% Mexicali0.60.6(8.9%)2.42.40.6% Aguascalientes27.529.57.5% 101.1106.85.6% Los Mochis0.70.711.5% 2.62.60.7% Manzanillo9.88.2(15.9%)53.744.5(17.0%)Total2,395.82,136.5(10.8%)10,128.39,135.5(9.8%)  Total Terminal Passengers (in thousands):

AirportApr-25Apr-26% ChangeJan - Apr 25Jan - Apr 26% ChangeGuadalajara1,520.41,533.40.9% 6,048.56,061.10.2% Tijuana*1,099.7984.5(10.5%)4,172.03,850.6(7.7%)Los Cabos697.5641.0(8.1%)2,749.32,642.0(3.9%)Puerto Vallarta654.1542.6(17.0%)2,780.22,466.3(11.3%)Montego Bay430.4335.6(22.0%)1,769.41,252.9(29.2%)Guanajuato278.4251.3(9.7%)1,057.01,020.0(3.5%)Hermosillo190.5173.0(9.2%)720.1675.5(6.2%)Kingston155.0145.7(6.0%)583.1561.2(3.8%)Morelia116.2123.26.0% 476.5532.011.6% La Paz114.8127.811.4% 404.1454.212.4% Mexicali105.691.0(13.8%)400.5352.6(12.0%)Aguascalientes80.784.74.9% 306.2300.8(1.8%)Los Mochis67.261.5(8.4%)234.1226.6(3.2%)Manzanillo20.518.1(11.4%)99.287.3(12.0%)Total5,531.05,113.4(7.6%)21,800.320,483.2(6.0%)       *Passengers in Tijuana who use CBX in both directions are classified as international.  CBX users (in thousands):

AirportApr-25Apr-26% ChangeJan - Apr 25Jan - Apr 26% ChangeTijuana345.0309.4(10.3%)
1,343.21,195.7(11.0%)
  Highlights for the month:

Seats and load factors
The seats available during April 2026 decreased by 8.3%, compared to April 2025. The load factors for the month went from 80.8% in April 2025 to 81.5% in April 2026.

Company Description

Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) operates 12 airports throughout Mexico’s Pacific region, including the major cities of Guadalajara and Tijuana, the four tourist destinations of Puerto Vallarta, Los Cabos, La Paz and Manzanillo, and six other mid-sized cities: Hermosillo, Guanajuato, Morelia, Aguascalientes, Mexicali, and Los Mochis. In February 2006, GAP’s shares were listed on the New York Stock Exchange under the ticker symbol “PAC” and on the Mexican Stock Exchange under the ticker symbol “GAP”. In April 2015, GAP acquired 100% of Desarrollo de Concessioner Aeroportuarias, S.L., which owns a majority stake in MBJ Airports Limited, a company operating Sangster International Airport in Montego Bay, Jamaica. In October 2018, GAP entered into a concession agreement for the Norman Manley International Airport operation in Kingston, Jamaica, and took control of the operation in October 2019.

 This press release may contain forward-looking statements. These statements are statements that are not historical facts and are based on management’s current view and estimates of future economic circumstances, industry conditions, company performance, and financial results. The words “anticipates”, “believes”, “estimates”, “expects”, “plans” and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations, and the factors or trends affecting financial condition, liquidity, or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends, or results will occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.     In accordance with Section 806 of the Sarbanes-Oxley Act of 2002 and Article 42 of the “Ley del Mercado de Valores”, GAP has implemented a “whistleblower” program, which allows complainants to anonymously and confidentially report suspected activities that involve criminal conduct or violations. The telephone number in Mexico, facilitated by a third party responsible for collecting these complaints, is 800 04 ETICA (38422) or WhatsApp +52 55 6538 5504. The website is www.lineadedenunciagap.com or by email at [email protected]. GAP’s Audit Committee will be notified of all complaints for immediate investigation.

GUADALAJARA, Mexico, May 09, 2026 (GLOBE NEWSWIRE) -- Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE: PAC; BMV: GAP) (the “Company” or “GAP”) announces that it has initiated the process for the potential establishment of an Irrevocable Trust for the Issuance of Energy and Infrastructure Investment Trust Certificates (“FIBRA GAP”), with the objective of subscribing a minority equity interest in the 12 Mexican airport concessionaires operated by GAP.

Through the initial issuance of FIBRA GAP, each of the 12 airports intends to obtain funds to complement the execution of the Master Development Program for the 2026–2029 period, which contemplates investments of approximately Ps. 40.0 billion.

The Master Development Program will generate significant growth in airport infrastructure, including an approximate increase of 60% in terminals, 35% in inspection points and access areas, 25% in aircraft parking positions, and 10% in airside infrastructure.

These investments will contribute to economic development in the areas surrounding the airports through the generation of direct and indirect employment, as well as a multiplier effect on investment.

The investment made by FIBRA GAP in the airports will represent an additional source of funds to invest in airport infrastructure, complementing the debt securities issuances under the program that GAP has utilized since 2015.

Company Description

Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) operates 12 airports throughout Mexico’s Pacific region, including the major cities of Guadalajara and Tijuana, the four tourist destinations of Puerto Vallarta, Los Cabos, La Paz and Manzanillo, and six other mid-sized cities: Hermosillo, Guanajuato, Morelia, Aguascalientes, Mexicali, and Los Mochis. In February 2006, GAP’s shares were listed on the New York Stock Exchange under the ticker symbol “PAC” and on the Mexican Stock Exchange under the ticker symbol “GAP”. In April 2015, GAP acquired 100% of Desarrollo de Concessioner Aeroportuarias, S.L., which owns a majority stake in MBJ Airports Limited, a company operating Sangster International Airport in Montego Bay, Jamaica. In October 2018, GAP entered into a concession agreement for the Norman Manley International Airport operation in Kingston, Jamaica, and took control of the operation in October 2019.

This press release may contain forward-looking statements. These statements are statements that are not historical facts and are based on management’s current view and estimates of future economic circumstances, industry conditions, company performance, and financial results. The words “anticipates”, “believes”, “estimates”, “expects”, “plans” and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations, and the factors or trends affecting financial condition, liquidity, or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends, or results will occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.  In accordance with Section 806 of the Sarbanes-Oxley Act of 2002 and Article 42 of the “Ley del Mercado de Valores”, GAP has implemented a “whistleblower” program, which allows complainants to anonymously and confidentially report suspected activities that involve criminal conduct or violations. The telephone number in Mexico, facilitated by a third party responsible for collecting these complaints, is 800 04 ETICA (38422) or WhatsApp +52 55 6538 5504. The website is www.lineadedenunciagap.com or by email at [email protected]. GAP’s Audit Committee will be notified of all complaints for immediate investigation.

Alejandra Soto Investor Relations and Social Responsibility [email protected]  Gisela Murillo, Investor [email protected]
+52 33 3880 1100 ext. 20294

More than one-third of responders with previously treated disease achieved complete responses, with median duration of response not yet reached, as reported in new Journal of Clinical Oncology publication RYBREVANT FASPRO™, an EGFR- and MET-targeting dual inhibitor, is the first and only subcutaneous therapy being evaluated in this setting Johnson & Johnson submitted a supplemental Biologics License Application to U.S. FDA seeking approval for this indication , /PRNewswire/ -- Johnson & Johnson (NYSE: JNJ) today announced pivotal results from the Phase 1b/2 OrigAMI-4 study showing that subcutaneous amivantamab and hyaluronidase-lpuj delivered durable responses in patients with advanced head and neck squamous cell carcinoma previously treated with immunotherapy and chemotherapy. Confirmed overall response rate was 42 percent, with more than one-third of responders achieving complete responses. Median duration of response was not yet reached, with a median follow up of 11.8 months.1 These data were featured in an oral session at the 2026 American Society of Clinical Oncology (ASCO) Annual Meeting (Abstract #6008) and simultaneously published in the Journal of Clinical Oncology (JCO).2 Together, with additional data presented in lung and colorectal cancers, these findings further demonstrate the expanding role of the amivantamab portfolio across tumor types.

A supplemental Biologics License Application (sBLA) seeking approval for subcutaneous amivantamab in head and neck cancer has been submitted to the U.S. Food and Drug Administration (FDA), following Breakthrough Therapy Designation.

High unmet need remains in advanced head and neck cancer

Head and neck squamous cell carcinoma is an aggressive disease that can significantly affect quality of life, with symptoms such as pain and difficulty swallowing that can make it hard to eat, speak and maintain proper nutrition.3,4 Certain forms of head and neck cancer, including tumors of the mouth, voice box and parts of the throat, are among the most difficult to treat, and are associated with poorer outcomes and persistent unmet need.5 Across head and neck cancers, up to half of patients will experience recurrence or metastatic disease, even when treated at an early stage.3 Once the disease becomes recurrent or metastatic, five-year survival is approximately 15 percent.6 For patients who receive additional treatment, current options provide limited benefit with response rates rarely exceeding 24 percent, and few patients achieve a complete response.7,8

Dual-targeting mechanism helps address tumor growth and resistance

Subcutaneous amivantamab is designed to dual target both epidermal growth factor receptor (EGFR) and mesenchymal-epithelial transition (MET), two pathways associated with tumor growth and resistance, while engaging the immune system.9

"Patients with recurrent or metastatic head and neck cancer who have already been treated with immunotherapy and chemotherapy face very poor outcomes," said Barbara Burtness, M.D.,* medical oncologist and professor of medicine at Yale Cancer Center in New Haven, Connecticut. "The high response seen with subcutaneous amivantamab on its own, including more than one-third of responders achieving complete responses, and the durability of those responses, suggests it has the potential to meaningfully improve expectations for these patients."

Detailed OrigAMI-4 study results

Cohort 1 of the OrigAMI-4 study evaluated subcutaneous amivantamab monotherapy in 102 patients with recurrent or metastatic head and neck cancer who had previously received immunotherapy and platinum-based chemotherapy, excluding patients with human papillomavirus (HPV)-positive oropharyngeal cancer. Patients received treatment every three weeks following an initial loading dose. The primary endpoint was overall response rate, as assessed by local investigators per protocol. Responses were confirmed via blinded independent central review (BICR).1

Based on BICR, confirmed overall response rate was 42 percent (95 percent confidence interval [CI], 32-52), including complete responses in more than one-third of responders (15 percent) and a 27 percent partial response rate. Clinical benefit rate was 63 percent (95 percent CI, 53-72), and median time to first response was 6.6 weeks (range, 5.6-36.9). At the time of analysis (median follow-up of 11.8 months), median duration of response had not yet been reached among confirmed responders, demonstrating notable durability. Median progression-free survival and overall survival were 6.8 months and 12.5 months, respectively.1

The safety profile of subcutaneous amivantamab monotherapy was consistent with prior reports, with no new safety signals identified. Most treatment-related adverse events were Grade 1 or 2 (mild to moderate) and associated with EGFR or MET inhibition. The most common on-target adverse events included hypoalbuminemia (50 percent), rash (37 percent), paronychia (34 percent) and dermatitis acneiform (34 percent). Administration-related reactions occurred in 15 percent of patients, with no Grade 3 or higher events reported. Treatment-related discontinuations remained low at eight percent.1

"Progress has been limited for patients with recurrent and metastatic head and neck cancer, highlighting the need for differentiated approaches that can address the disease more comprehensively," said Yusri Elsayed, M.D., M.H.Sc., Ph.D., Global Therapeutic Area Head, Oncology, Johnson & Johnson. "Subcutaneous amivantamab is the only therapy of its kind being studied in this disease, targeting both EGFR and MET while engaging the immune system. The encouraging responses we're seeing in OrigAMI-4, along with a well-established and manageable safety profile, underscore the potential of this approach and move us closer to delivering a fast, convenient treatment option."

Ongoing study of RYBREVANT FASPRO™ in head and neck cancer

A trial-in-progress update from the Phase 3 OrigAMI-5 study (NCT07276399) was also shared at ASCO 2026 (Abstract #583a). The study is evaluating subcutaneous amivantamab in combination with carboplatin and pembrolizumab as a first-line treatment for patients with recurrent or metastatic head and neck cancer, with the goal of improving outcomes in the first-line setting.10

RYBREVANT FASPRO™ is already approved in more than 40 countries, including the United States, Europe, Japan, and other markets, as a subcutaneous treatment for patients with EGFR-mutated non-small cell lung cancer.11

About the OrigAMI-4 Study

OrigAMI-4 (NCT06385080) is an open-label Phase 1b/2 study evaluating RYBREVANT FASPRO™ (amivantamab and hyaluronidase-lpuj) in recurrent or metastatic head and neck squamous cell carcinoma (R/M HNSCC). The study includes five cohorts exploring RYBREVANT FASPRO™ across different treatment settings and regimens.

Cohort 1 evaluated RYBREVANT FASPRO™ as monotherapy in patients with R/M HNSCC who had received prior platinum-based chemotherapy and PD-1/PD-L1 immunotherapy. Patients with HPV-positive oropharyngeal squamous cell carcinoma were excluded, as well as those with prior anti-EGFR therapy.

RYBREVANT FASPRO™ was administered on a weekly schedule during the initial treatment period followed by dosing every three weeks (Q3W), with weight-based dosing adjustments. The primary endpoint across cohorts is overall response rate (ORR), as assessed by investigators, using RECIST v1.1.†12

About Head and Neck Squamous Cell Carcinoma

Head and neck squamous cell carcinoma (HNSCC) is the most common form of head and neck cancer, a group of cancers that arise in the mouth, throat, voice box, sinuses, nasal cavity, and salivary glands.13 It represents approximately 4.5 percent of all cancers worldwide and is the seventh most common cancer globally.13 Major risk factors include tobacco and alcohol use, as well as infection with high-risk human papillomavirus (HPV).13 Approximately 80 percent of recurrent or metastatic HNSCC are not driven by HPV, and are typically associated with poorer prognosis and reduced response to treatment.13, 14 Despite advances in surgery, radiation, chemotherapy, and immunotherapy, many patients ultimately progress to advanced, recurrent or metastatic disease.15,16

About RYBREVANT FASPRO™ and RYBREVANT®

RYBREVANT FASPRO™ (amivantamab and hyaluronidase-lpuj) received U.S. FDA approval in December 2025 and is approved in multiple markets worldwide for the treatment of adults with EGFR-mutated non-small cell lung cancer (NSCLC), including those with exon 19 deletions, exon 21 L858R substitution mutations, and exon 20 insertion mutations. It is the only subcutaneous therapy approved in these populations and can be used as monotherapy or in combination with LAZCLUZE® (lazertinib) or chemotherapy in the front- and second-line settings, offering convenient monthly‡ or bi-weekly dosing. RYBREVANT FASPRO™ is co-formulated with recombinant human hyaluronidase PH20 (rHuPH20), Halozyme's ENHANZE® drug delivery technology.

RYBREVANT® (amivantamab-vmjw), administered intravenously, received U.S. FDA approval in March 2024 and is approved for the same indications as RYBREVANT FASPRO™ across multiple markets. RYBREVANT® is a first-in-class, fully human bispecific antibody targeting EGFR and MET, designed to inhibit tumor growth while engaging the immune system.

The effectiveness of RYBREVANT FASPRO™ is supported by the established clinical profile of RYBREVANT®, including data from multiple Phase 3 studies such as MARIPOSA, which demonstrated improvements in progression-free and overall survival when used in combination with LAZCLUZE® in first-line advanced EGFR-mutated NSCLC.

The National Comprehensive Cancer Network® (NCCN®) Clinical Practice Guidelines in Oncology (NCCN Guidelines®)§17 include amivantamab-vmjw (RYBREVANT®) across its FDA-approved treatment settings, including as a Category 1 preferred option in combination with lazertinib (LAZCLUZE®) for first-line treatment of patients with locally advanced or metastatic NSCLC with EGFR exon 19 deletions or exon 21 L858R mutations. Subcutaneous amivantamab and hyaluronidase-lpuj (RYBREVANT FASPRO™) may be substituted for IV amivantamab-vmjw (RYBREVANT®) where appropriate. See the latest NCCN Guidelines® for NSCLC for complete information. || ¶

The NCCN Guidelines for Central Nervous System Cancers also include amivantamab (RYBREVANT®)-based regimens, including in combination with lazertinib (LAZCLUZE®), as the only NCCN-preferred combination options for patients with EGFR-mutated NSCLC and brain metastases. || ¶

Beyond NSCLC, RYBREVANT-based therapies are being investigated across other solid tumors, including head and neck and colorectal cancers.

The legal manufacturer for RYBREVANT FASPRO™ and RYBREVANT® is Janssen Biotech, Inc. For more information, visit www.rybrevanthcp.com

INDICATIONS

RYBREVANT FASPRO™ (amivantamab and hyaluronidase-lpuj) and RYBREVANT® (amivantamab-vmjw) are indicated:

in combination with LAZCLUZE (lazertinib) for the first-line treatment of adult patients with locally advanced or metastatic NSCLC with EGFR exon 19 deletions or exon 21 L858R substitution mutations, as detected by an FDA-approved test.in combination with carboplatin and pemetrexed for the treatment of adult patients with locally advanced or metastatic NSCLC with EGFR exon 19 deletions or exon 21 L858R substitution mutations, whose disease has progressed on or after treatment with an EGFR tyrosine kinase inhibitor.in combination with carboplatin and pemetrexed for the first-line treatment of adult patients with locally advanced or metastatic NSCLC with EGFR exon 20 insertion mutations, as detected by an FDA-approved test.as a single agent for the treatment of adult patients with locally advanced or metastatic NSCLC with EGFR exon 20 insertion mutations, as detected by an FDA approved test, whose disease has progressed on or after platinum-based chemotherapy.IMPORTANT SAFETY INFORMATION FOR RYBREVANT FASPRO™ AND RYBREVANT® 10,18

CONTRAINDICATIONS

RYBREVANT FASPRO™ is contraindicated in patients with known hypersensitivity to hyaluronidase or to any of its excipients.

WARNINGS AND PRECAUTIONS

Hypersensitivity and Administration-Related Reactions with RYBREVANT FASPRO™

RYBREVANT FASPRO™ can cause hypersensitivity and administration-related reactions (ARR); signs and symptoms of ARR include dyspnea, flushing, fever, chills, chest discomfort, hypotension, and vomiting. The median time to ARR onset is approximately 2 hours.

RYBREVANT FASPRO™ with LAZCLUZE®

In PALOMA-3 (n=206), all Grade ARR occurred in 13% of patients, including 0.5% Grade 3. Of the patients who experienced ARR, 89% occurred with the initial dose (Week 1, Day 1).

Premedicate with antihistamines, antipyretics, and glucocorticoids and administer RYBREVANT FASPRO™ as recommended. Monitor patients for any signs and symptoms of administration-related reactions during injection in a setting where cardiopulmonary resuscitation medication and equipment are available. Interrupt RYBREVANT FASPRO™ injection if ARR is suspected. Resume treatment upon resolution of symptoms or permanently discontinue RYBREVANT FASPRO™ based on severity.

Infusion-Related Reactions with RYBREVANT®

RYBREVANT® can cause infusion-related reactions (IRR) including anaphylaxis; signs and symptoms of IRR include dyspnea, flushing, fever, chills, nausea, chest discomfort, hypotension, and vomiting. The median time to IRR onset is approximately 1 hour.

RYBREVANT® with LAZCLUZE®

In MARIPOSA (n=421), IRRs occurred in 63% of patients, including Grade 3 in 5% and Grade 4 in 1% of patients. IRR-related infusion modifications occurred in 54%, dose reduction in 0.7%, and permanent discontinuation of RYBREVANT® in 4.5% of patients.

RYBREVANT® with Carboplatin and Pemetrexed

Based on the pooled safety population (n=281), IRRs occurred in 50% of patients including Grade 3 (3.2%) adverse reactions. IRR-related infusion modifications occurred in 46%, and permanent discontinuation of RYBREVANT® in 2.8% of patients.

RYBREVANT® as a Single Agent

In CHRYSALIS (n=302), IRRs occurred in 66% of patients. IRRs occurred in 65% of patients on Week 1 Day 1, 3.4% on Day 2 infusion, 0.4% with Week 2 infusion, and were cumulatively 1.1% with subsequent infusions. 97% were Grade 1-2, 2.2% were Grade 3, and 0.4% were Grade 4. The median time to onset was 1 hour (range: 0.1 to 18 hours) after start of infusion. IRR-related infusion modifications occurred in 62%, and permanent discontinuation of RYBREVANT® in 1.3% of patients.

Premedicate with antihistamines, antipyretics, and glucocorticoids and infuse RYBREVANT® as recommended. Administer RYBREVANT® via a peripheral line on Week 1 and Week 2 to reduce the risk of IRRs. Monitor patients for signs and symptoms of IRRs in a setting where cardiopulmonary resuscitation medication and equipment are available. Interrupt infusion if IRR is suspected. Reduce the infusion rate or permanently discontinue RYBREVANT® based on severity. If an anaphylactic reaction occurs, permanently discontinue RYBREVANT®.

Interstitial Lung Disease/Pneumonitis

RYBREVANT FASPRO™ and RYBREVANT® can cause severe and fatal interstitial lung disease (ILD)/pneumonitis.

RYBREVANT FASPRO™ with LAZCLUZE®

In PALOMA-3, ILD/pneumonitis occurred in 6% of patients, including Grade 3 in 1%, Grade 4 in 1.5%, and fatal cases in 1.9% of patients. 5% of patients permanently discontinued RYBREVANT FASPRO™ and LAZCLUZE® due to ILD/pneumonitis.

RYBREVANT® with LAZCLUZE®

In MARIPOSA, ILD/pneumonitis occurred in 3.1% of patients, including Grade 3 in 1.0% and Grade 4 in 0.2% of patients. There was one fatal case of ILD/pneumonitis and 2.9% of patients permanently discontinued RYBREVANT® and LAZCLUZE® due to ILD/pneumonitis.

RYBREVANT® with Carboplatin and Pemetrexed

Based on the pooled safety population, ILD/pneumonitis occurred in 2.1% of patients with 1.8% of patients experiencing Grade 3 ILD/pneumonitis. 2.1% discontinued RYBREVANT® due to ILD/pneumonitis.

RYBREVANT® as a Single Agent

In CHRYSALIS, ILD/pneumonitis occurred in 3.3% of patients, with 0.7% of patients experiencing Grade 3 ILD/pneumonitis. Three patients (1%) permanently discontinued RYBREVANT® due to ILD/pneumonitis.

Monitor patients for new or worsening symptoms indicative of ILD/pneumonitis (e.g., dyspnea, cough, fever). Immediately withhold RYBREVANT FASPRO™ or RYBREVANT® and LAZCLUZE® (when applicable) in patients with suspected ILD/pneumonitis and permanently discontinue if ILD/pneumonitis is confirmed.

Venous Thromboembolic (VTE) Events with Concomitant Use with LAZCLUZE®

RYBREVANT FASPRO™ and RYBREVANT® in combination with LAZCLUZE® can cause serious and fatal venous thromboembolic (VTE) events, including deep vein thrombosis and pulmonary embolism. Without prophylactic anticoagulation, the majority of these events occurred during the first four months of treatment.

RYBREVANT FASPRO™ with LAZCLUZE®

In PALOMA-3 (n=206), all Grade VTE occurred in 11% of patients and 1.5% were Grade 3. 80% (n=164) of patients received prophylactic anticoagulation at study entry, with an all Grade VTE incidence of 7%. In patients who did not receive prophylactic anticoagulation (n=42), all Grade VTE occurred in 17% of patients. In total, 0.5% of patients had VTE leading to dose reductions of RYBREVANT FASPRO™ and no patients required permanent discontinuation. The median time to onset of VTEs was 95 days (range: 17 to 390).

RYBREVANT® with LAZCLUZE®

In MARIPOSA (n=421), VTEs occurred in 36% of patients including Grade 3 in 10% and Grade 4 in 0.5% of patients. On-study VTEs occurred in 1.2% of patients (n=5) while receiving anticoagulation therapy. There were two fatal cases of VTE (0.5%), 9% of patients had VTE leading to dose interruptions of RYBREVANT®, and 7% of patients had VTE leading to dose interruptions of LAZCLUZE®; 1% of patients had VTE leading to dose reductions of RYBREVANT®, and 0.5% of patients had VTE leading to dose reductions of LAZCLUZE®; 3.1% of patients had VTE leading to permanent discontinuation of RYBREVANT®, and 1.9% of patients had VTE leading to permanent discontinuation of LAZCLUZE®. The median time to onset of VTEs was 84 days (range: 6 to 777).

Administer prophylactic anticoagulation for the first four months of treatment. The use of Vitamin K antagonists is not recommended.

Monitor for signs and symptoms of VTE events and treat as medically appropriate. Withhold RYBREVANT FASPRO™ or RYBREVANT® and LAZCLUZE® based on severity. Once anticoagulant treatment has been initiated, resume RYBREVANT FASPRO™ or RYBREVANT® and LAZCLUZE® at the same dose level at the discretion of the healthcare provider. In the event of VTE recurrence despite therapeutic anticoagulation, permanently discontinue RYBREVANT FASPRO™ or RYBREVANT®. Treatment can continue with LAZCLUZE® at the same dose level at the discretion of the healthcare provider. Refer to the LAZCLUZE® Prescribing Information for recommended LAZCLUZE® dosage modification.

Dermatologic Adverse Reactions

RYBREVANT FASPRO™ and RYBREVANT® can cause severe rash including toxic epidermal necrolysis (TEN), dermatitis acneiform, pruritus and dry skin.

RYBREVANT FASPRO™ with LAZCLUZE®

In PALOMA-3, rash occurred in 80% of patients, including Grade 3 in 17% and Grade 4 in 0.5% of patients. Rash leading to dose reduction occurred in 11% of patients, and RYBREVANT FASPRO™ was permanently discontinued due to rash in 1.5% of patients.

RYBREVANT® with LAZCLUZE®

In MARIPOSA, rash occurred in 86% of patients, including Grade 3 in 26% of patients. The median time to onset of rash was 14 days (range: 1 to 556 days). Rash leading to dose interruptions occurred in 37% of patients for RYBREVANT® and 30% for LAZCLUZE®, rash leading to dose reductions occurred in 23% of patients for RYBREVANT® and 19% for LAZCLUZE®, and rash leading to permanent discontinuation occurred in 5% of patients for RYBREVANT® and 1.7% for LAZCLUZE®.

RYBREVANT® with Carboplatin and Pemetrexed

Based on the pooled safety population, rash occurred in 82% of patients, including Grade 3 (15%) adverse reactions. Rash leading to dose reductions occurred in 14% of patients, and 2.5% permanently discontinued RYBREVANT® and 3.1% discontinued pemetrexed.

RYBREVANT® as a Single Agent

In CHRYSALIS, rash occurred in 74% of patients, including Grade 3 in 3.3% of patients. The median time to onset of rash was 14 days (range: 1 to 276 days). Rash leading to dose reduction occurred in 5% and permanent discontinuation due to rash occurred in 0.7% of patients. Toxic epidermal necrolysis occurred in one patient (0.3%).

When initiating treatment with RYBREVANT FASPRO or RYBREVANT and LAZCLUZE, prophylactic and concomitant medications are recommended to reduce the risk and severity of dermatologic adverse reactions. Instruct patients to limit sun exposure during and for 2 months after treatment. Advise patients to wear protective clothing and use broad spectrum UVA/UVB sunscreen.

If skin reactions develop, administer supportive care including topical corticosteroids and topical and/or oral antibiotics. For Grade 3 reactions, add oral steroids and consider dermatologic consultation. Promptly refer patients presenting with severe rash, atypical appearance or distribution, or lack of improvement within 2 weeks to a dermatologist. For patients receiving RYBREVANT FASPRO™ or RYBREVANT® in combination with LAZCLUZE®, withhold, reduce the dose, or permanently discontinue both drugs based on severity. For patients receiving RYBREVANT FASPRO™ or RYBREVANT® as a single agent or in combination with carboplatin and pemetrexed, withhold, dose reduce or permanently discontinue RYBREVANT FASPRO™ or RYBREVANT® based on severity.

Hepatotoxicity

LAZCLUZE® in combination with amivantamab can cause severe hepatotoxicity (including increased ALT and AST).

RYBREVANT® with LAZCLUZE®

In MARIPOSA, based on adverse reaction data, hepatotoxicity occurred in 49% of patients treated with LAZCLUZE®, including Grade 3 in 9.3% of patients and Grade 4 in 0.5%. LAZCLUZE® was interrupted for an adverse reaction of hepatotoxicity in 8% of patients, the dose was reduced in 1.4% and permanently discontinued in 0.2%.

Perform liver function tests (including ALT, AST, and total bilirubin) before initiation of LAZCLUZE® and during treatment, as clinically indicated. Withhold, reduce the dose, or permanently discontinue LAZCLUZE® and amivantamab based on severity.

Ocular Toxicity

RYBREVANT FASPRO™ and RYBREVANT® can cause ocular toxicity including keratitis, blepharitis, dry eye symptoms, conjunctival redness, blurred vision, visual impairment, ocular itching, eye pruritus and uveitis.

RYBREVANT FASPRO™ with LAZCLUZE®

In PALOMA-3, all Grade ocular toxicity occurred in 13% of patients, including 0.5% Grade 3.

RYBREVANT® with LAZCLUZE®

In MARIPOSA, ocular toxicity occurred in 16%, including Grade 3 or 4 ocular toxicity in 0.7% of patients.

RYBREVANT® with Carboplatin and Pemetrexed

Based on the pooled safety population, ocular toxicity occurred in 16% of patients. All events were Grade 1 or 2.

RYBREVANT® as a Single Agent

In CHRYSALIS, keratitis occurred in 0.7% and uveitis occurred in 0.3% of patients. All events were Grade 1-2.

Promptly refer patients presenting with new or worsening eye symptoms to an ophthalmologist. Withhold, dose reduce or permanently discontinue RYBREVANT FASPRO™ or RYBREVANT® and continue LAZCLUZE® based on severity.

Embryo-Fetal Toxicity

Based on animal models, RYBREVANT FASPRO™, RYBREVANT® and LAZCLUZE® can cause fetal harm when administered to a pregnant woman. Verify pregnancy status of females of reproductive potential prior to initiating RYBREVANT FASPRO™ and RYBREVANT®. Advise pregnant women and females of reproductive potential of the potential risk to the fetus. Advise patients of reproductive potential to use effective contraception during treatment and for 3 months after the last dose of RYBREVANT FASPRO™ or RYBREVANT®, and for 3 weeks after the last dose of LAZCLUZE®.

ADVERSE REACTIONS

RYBREVANT FASPRO™ with LAZCLUZE®

In PALOMA-3 (n=206), the most common adverse reactions (≥20%) were rash (80%), nail toxicity (58%), musculoskeletal pain (50%), fatigue (37%), stomatitis (36%), edema (34%), nausea (30%), diarrhea (22%), vomiting (22%), constipation (22%), decreased appetite (22%), and headache (21%). The most common Grade 3 or 4 laboratory abnormalities (≥2%) were decreased lymphocyte count (6%), decreased sodium (5%), decreased potassium (5%), decreased albumin (4.9%), increased alanine aminotransferase (3.4%), decreased platelet count (2.4%), increased aspartate aminotransferase (2%), increased gamma-glutamyl transferase (2%), and decreased hemoglobin (2%).

Serious adverse reactions occurred in 33% of patients, with those occurring in ≥2% of patients including ILD/pneumonitis (6%); and pneumonia, VTE and fatigue (2.4% each). Death due to adverse reactions occurred in 5% of patients treated with RYBREVANT FASPRO™, including ILD/pneumonitis (1.9%), pneumonia (1.5%), and respiratory failure and sudden death (1% each).

RYBREVANT® with LAZCLUZE®

In MARIPOSA (n=421), the most common adverse reactions (ARs) (≥20%) were rash (86%), nail toxicity (71%), infusion-related reactions (IRRs) (RYBREVANT®) (63%), musculoskeletal pain (47%), stomatitis (43%), edema (43%), VTE (36%), paresthesia (35%), fatigue (32%), diarrhea (31%), constipation (29%), COVID-19 (26%), hemorrhage (25%), dry skin (25%), decreased appetite (24%), pruritus (24%), and nausea (21%). The most common Grade 3 or 4 laboratory abnormalities (≥2%) were decreased albumin (8%), decreased sodium (7%), increased ALT (7%), decreased potassium (5%), decreased hemoglobin (3.8%), increased AST (3.8%), increased GGT (2.6%), and increased magnesium (2.6%).

Serious ARs occurred in 49% of patients, with those occurring in ≥2% of patients including VTE (11%), pneumonia (4%), ILD/pneumonitis and rash (2.9% each), COVID-19 (2.4%), and pleural effusion and IRRs (RYBREVANT®) (2.1% each). Fatal ARs occurred in 7% of patients due to death not otherwise specified (1.2%); sepsis and respiratory failure (1% each); pneumonia, myocardial infarction, and sudden death (0.7% each); cerebral infarction, pulmonary embolism (PE), and COVID-19 infection (0.5% each); and ILD/pneumonitis, acute respiratory distress syndrome (ARDS), and cardiopulmonary arrest (0.2% each).

RYBREVANT® with Carboplatin and Pemetrexed

In MARIPOSA-2 (n=130), the most common ARs (≥20%) were rash (72%), IRRs (59%), fatigue (51%), nail toxicity (45%), nausea (45%), constipation (39%), edema (36%), stomatitis (35%), decreased appetite (31%), musculoskeletal pain (30%), vomiting (25%), and COVID-19 (21%). The most common Grade 3 to 4 laboratory abnormalities (≥2%) were decreased neutrophils (49%), decreased white blood cells (42%), decreased lymphocytes (28%), decreased platelets (17%), decreased hemoglobin (12%), decreased potassium (11%), decreased sodium (11%), increased alanine aminotransferase (3.9%), decreased albumin (3.8%), and increased gamma-glutamyl transferase (3.1%).

In MARIPOSA-2, serious ARs occurred in 32% of patients, with those occurring in >2% of patients including dyspnea (3.1%), thrombocytopenia (3.1%), sepsis (2.3%), and PE (2.3%). Fatal ARs occurred in 2.3% of patients; these included respiratory failure, sepsis, and ventricular fibrillation (0.8% each).

In PAPILLON (n=151), the most common ARs (≥20%) were rash (90%), nail toxicity (62%), stomatitis (43%), IRRs (42%), fatigue (42%), edema (40%), constipation (40%), decreased appetite (36%), nausea (36%), COVID-19 (24%), diarrhea (21%), and vomiting (21%). The most common Grade 3 to 4 laboratory abnormalities (≥2%) were decreased albumin (7%), increased alanine aminotransferase (4%), increased gamma-glutamyl transferase (4%), decreased sodium (7%), decreased potassium (11%), decreased magnesium (2%), and decreases in white blood cells (17%), hemoglobin (11%), neutrophils (36%), platelets (10%), and lymphocytes (11%).

In PAPILLON, serious ARs occurred in 37% of patients, with those occurring in ≥2% of patients including rash, pneumonia, ILD, PE, vomiting, and COVID-19. Fatal adverse reactions occurred in 7 patients (4.6%) due to pneumonia, cerebrovascular accident, cardio-respiratory arrest, COVID-19, sepsis, and death not otherwise specified.

RYBREVANT® as a Single Agent

In CHRYSALIS (n=129), the most common ARs (≥20%) were rash (84%), IRR (64%), paronychia (50%), musculoskeletal pain (47%), dyspnea (37%), nausea (36%), fatigue (33%), edema (27%), stomatitis (26%), cough (25%), constipation (23%), and vomiting (22%). The most common Grade 3 to 4 laboratory abnormalities (≥2%) were decreased lymphocytes (8%), decreased albumin (8%), decreased phosphate (8%), decreased potassium (6%), increased alkaline phosphatase (4.8%), increased glucose (4%), increased gamma-glutamyl transferase (4%), and decreased sodium (4%).

Serious ARs occurred in 30% of patients, with those occurring in ≥2% of patients including PE, pneumonitis/ILD, dyspnea, musculoskeletal pain, pneumonia, and muscular weakness. Fatal adverse reactions occurred in 2 patients (1.5%) due to pneumonia and 1 patient (0.8%) due to sudden death.

LAZCLUZE® DRUG INTERACTIONS

Avoid concomitant use of LAZCLUZE® with strong and moderate CYP3A4 inducers. Consider an alternate concomitant medication with no potential to induce CYP3A4.

Monitor for adverse reactions associated with a CYP3A4 or BCRP substrate where minimal concentration changes may lead to serious adverse reactions, as recommended in the approved product labeling for the CYP3A4 or BCRP substrate.

Please see full Prescribing Information for RYBREVANT FASPRO™, RYBREVANT® and LAZCLUZE®.

cp-491009v2

About Johnson & Johnson

At Johnson & Johnson, we believe health is everything. Our strength in healthcare innovation empowers us to build a world where complex diseases are prevented, treated, and cured, where treatments are smarter and less invasive, and solutions are personal. Through our expertise in Innovative Medicine and MedTech, we are uniquely positioned to innovate across the full spectrum of healthcare solutions today to deliver the breakthroughs of tomorrow and profoundly impact health for humanity. Learn more at https://www.jnj.com/ or at www.innovativemedicine.jnj.com. Follow us at @JNJInnovMed.

Cautions Concerning Forward-Looking Statements

This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 regarding product development and the potential benefits and treatment impact of RYBREVANT®-based regimens. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Johnson & Johnson. Risks and uncertainties include, but are not limited to: challenges and uncertainties inherent in product research and development, including the uncertainty of clinical success and of obtaining regulatory approvals; uncertainty of commercial success; manufacturing difficulties and delays; competition, including technological advances, new products and patents attained by competitors; challenges to patents; product efficacy or safety concerns resulting in product recalls or regulatory action; changes in behavior and spending patterns of purchasers of health care products and services; changes to applicable laws and regulations, including global health care reforms; and trends toward health care cost containment. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's most recent Annual Report on Form 10-K, including in the sections captioned "Cautionary Note Regarding Forward-Looking Statements" and "Item 1A. Risk Factors," and in Johnson & Johnson's subsequent Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.com, www.investor.jnj.com or on request from Johnson & Johnson. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments.

*Barbara Burtness, M.D. has served as a consultant to Johnson & Johnson; she has not been paid for any media work.

† RECIST (version 1.1) refers to Response Evaluation Criteria in Solid Tumors, which is a standard way to measure how well solid tumors respond to treatment and is based on whether tumors shrink, stay the same or get bigger.

‡ Once monthly after weekly injections from weeks 1-4.

§ The NCCN content does not constitute medical advice and should not be used in place of seeking professional medical advice, diagnosis or treatment by licensed practitioners. NCCN makes no warranties of any kind whatsoever regarding their content, use or application and disclaims any responsibility for their application or use in any way.

|| See the NCCN Guidelines for detailed recommendations, including other treatment options.

¶ The NCCN Guidelines for NSCLC provide recommendations for certain individual biomarkers that should be tested and recommend testing techniques but do not endorse any specific commercially available biomarker assays or commercial laboratories.

1 Burtness B, et al. Amivantamab in recurrent/metastatic head & neck squamous cell cancer after disease progression on immune checkpoint inhibitor and chemotherapy. Pivotal results from the phase 1b/2 OrigAMI-4 study. Presented at: The 2026 American Society of Clinical Oncology (ASCO) Annual Meeting; May 31, 2026; Chicago, Illinois.
2 Burtness B, et al. Amivantamab in recurrent/metastatic HNSCC after checkpoint inhibitor and chemotherapy: pivotal results from the phase 1b/2 OrigAMI-4 study. Epub May 31, 2026. doi:10.1200/JCO-26-01042.
3 Zebralla V, Wichmann G, Pirlich M, et al. Dysphagia, voice problems, and pain in head and neck cancer patients. Eur Arch Otorhinolaryngol. 2021;278(10):3985-3994. doi:10.1007/s00405-020-06584-6
4 Nissi L, et al. Recurrence of head and neck squamous cell carcinoma in relation to high-risk treatment volume. Clin Transl Radiat Oncol. 2021;27:139-146. doi:10.1016/j.ctro.2021.01.013
5 Dunn LA, Ho AL, Pfister DG. Head and neck cancer: a review. JAMA. 2026;335(6):531-541. doi:10.1001/jama.2025.21733
6 Soulieres D, et al. LBA48 BURAN: A phase III study of buparlisib (BUP) plus paclitaxel (PAC) in patients with PD-1(PD-L1)-pretreated recurrent/metastatic (R/M) head and neck squamous cell carcinoma (HNSCC). Ann Oncol. 2025;36:S1707.
7 Fayette J, et al. INTERLINK-1: A Phase III, randomized, placebo-controlled study of monalizumab plus cetuximab in recurrent/metastatic head and neck squamous cell carcinoma. Clin Cancer Res. 2025;31(13):2617-2627. doi:10.1158/1078-0432.CCR-25-0073
8 Große-Thie C, Maletzki C, Junghanss C, Schmidt K. Long-term survivor of metastatic squamous-cell head and neck carcinoma with occult primary after cetuximab-based chemotherapy: A case report. World J Clin Cases. 2021;9(24):7092-7098. doi:10.12998/wjcc.v9.i24.7092
9 Harrington KJ, Rosenberg AJ, Yang MH, et al. Subcutaneous amivantamab in recurrent/metastatic head and neck squamous cell cancer after disease progression on checkpoint inhibitor and chemotherapy: Preliminary results from the phase 1b/2 OrigAMI-4 study. Oral Oncol. 2025;171:107791. doi:10.1016/j.oraloncology.2025.107791
10 Haddad R, et al. OrigAMI-5: A randomized, phase 3 study of amivantamab plus pembrolizumab and carboplatin vs standard of care pembrolizumab plus platinum and 5-fluorouracil as first-line treatment in recurrent/metastatic head and neck cancer. Presented at: The 2026 American Society of Clinical Oncology (ASCO) Annual Meeting; May 30, 2026; Chicago, Illinois.
11 RYBREVANT FASPRO™ Prescribing Information. Horsham, PA: Janssen Biotech, Inc.
12 ClinicalTrials.gov. A Study of Amivantamab Alone or in Addition to Other Treatment Agents in Participants With Recurrent/ Metastatic Head and Neck Cancer (OrigAMI-4). https://clinicaltrials.gov/study/NCT06385080?term=OrigAMI-4&limit=10&rank=1. Accessed May 2026.
13 Barsouk A, Aluru JS, Rawla P, Saginala K, Barsouk A. Epidemiology, Risk Factors, and Prevention of Head and Neck Squamous Cell Carcinoma. Med Sci (Basel). 2023;11(2):42. Published 2023 Jun 13. doi:10.3390/medsci11020042
14 Ghiani L, Chiocca S. High Risk-Human Papillomavirus in HNSCC: Present and Future Challenges for Epigenetic Therapies. International Journal of Molecular Sciences. 2022;23(7):3483. https://doi.org/10.3390/ijms23073483
15 Ferris RL, Blumenschein G Jr, Fayette J, et al. Nivolumab for Recurrent Squamous-Cell Carcinoma of the Head and Neck. New England Journal of Medicine. 2016;375(19):1856-1867. doi:10.1056/NEJMoa1602252
16 Wise-Draper TM, Bahig H, Tonneau M, Karivedu V, Burtness B. Current Therapy for Metastatic Head and Neck Cancer: Evidence, Opportunities, and Challenges. Am Soc Clin Oncol Educ Book. 2022;42:1-14. doi:10.1200/EDBK_350442
17 Referenced with permission from the NCCN Clinical Practice Guidelines in Oncology (NCCN Guidelines®) for Non-Small Cell Lung Cancer V.3.2026 © National Comprehensive Cancer Network, Inc. All rights reserved. To view the most recent and complete version of the guideline, go online to NCCN.org. Accessed May 2026.
18 RYBREVANT® Prescribing Information. Horsham, PA: Janssen Biotech, Inc.

View original content to download multimedia:https://www.prnewswire.com/news-releases/rybrevant-faspro-amivantamab-and-hyaluronidase-lpuj-pivotal-data-show-strong-and-durable-responses-in-advanced-head-and-neck-cancer-where-options-remain-limited-302786430.html

SOURCE Johnson & Johnson

GUADALAJARA, Mexico, June 05, 2026 (GLOBE NEWSWIRE) -- Grupo Aeroportuario del Pacífico, S.A.B. de C.V., (NYSE: PAC; BMV: GAP) (“the Company” or “GAP”) announces preliminary terminal passenger traffic figures for May 2026, compared with May 2025.

During May 2026, the 12 Mexican airports operated by GAP recorded a 2.8% decrease in total passenger traffic compared to May 2025. Guadalajara airport reported an increase of 7.1%, while Puerto Vallarta, Tijuana and Los Cabos reported a decrease of 14.4%, 9.8%, and 6.0%, respectively, compared to May 2025. With respect to GAP’s airports in Jamaica, Montego Bay recorded a decrease of 19.1%, while Montego Bay recorded a decrease of 5.2%.

Domestic Terminal Passengers (in thousands):       AirportMay-25May-26% ChangeJan - May 25Jan - May 26% ChangeGuadalajara1,023.41,085.96.1%5,112.05,187.71.5%Tijuana*730.5664.5(9.0%)3,536.63,304.7(6.6%)Los Cabos245.0247.00.8%1,168.51,116.2(4.5%)Puerto Vallarta278.2266.7(4.1%)1,210.21,166.5(3.6%)Montego Bay0.00.0N/A0.00.0N/AGuanajuato194.1181.3(6.6%)903.7871.3(3.6%)Hermosillo184.5179.1(2.9%)877.6825.7(5.9%)Kingston0.00.1140.0%0.10.8489.7%Morelia59.455.6(6.3%)305.6306.90.4%La Paz107.0122.014.0%499.4559.111.9%Mexicali103.686.9(16.1%)501.8437.1(12.9%)Aguascalientes60.753.6(11.6%)265.8247.7(6.8%)Los Mochis58.161.55.8%289.6285.5(1.4%)Manzanillo10.310.0(2.4%)55.852.8(5.3%)Total3,054.63,014.2(1.3%)14,726.714,361.9(2.5%) International Terminal Passengers (in thousands):       AirportMay-25May-26% ChangeJan - May 25Jan - May 26% ChangeGuadalajara457.5499.99.3%2,417.42,459.21.7%Tijuana*336.6297.9(11.5%)1,702.51,508.3(11.4%)Los Cabos367.3328.8(10.5%)2,193.22,101.6(4.2%)Puerto Vallarta236.1173.5(26.5%)2,084.31,740.0(16.5%)Montego Bay395.4320.1(19.1%)2,164.81,573.0(27.3%)Guanajuato80.371.9(10.4%)427.7402.0(6.0%)Hermosillo6.77.714.7%33.736.68.5%Kingston146.3138.7(5.2%)729.3699.2(4.1%)Morelia49.762.625.9%279.9343.322.7%La Paz3.14.751.9%14.821.948.2%Mexicali0.50.729.5%2.93.05.7%Aguascalientes28.729.00.9%129.8135.74.6%Los Mochis0.70.76.4%3.23.31.9%Manzanillo5.14.7(6.3%)58.749.3(16.1%)Total2,113.91,940.9(8.2%)12,242.211,076.4(9.5%) Total Terminal Passengers (in thousands):         AirportMay-25May-26% ChangeJan - May 25Jan - May 26% ChangeGuadalajara1,480.81,585.87.1%7,529.47,646.91.6%Tijuana*1,067.1962.4(9.8%)5,239.24,813.0(8.1%)Los Cabos612.3575.8(6.0%)3,361.73,217.8(4.3%)Puerto Vallarta514.3440.2(14.4%)3,294.52,906.5(11.8%)Montego Bay395.4320.1(19.1%)2,164.81,573.0(27.3%)Guanajuato274.4253.3(7.7%)1,331.41,273.3(4.4%)Hermosillo191.2186.8(2.3%)911.3862.3(5.4%)Kingston146.4138.8(5.2%)729.5700.0(4.0%)Morelia109.0118.28.4%585.5650.211.0%La Paz110.1126.815.1%514.2581.013.0%Mexicali104.187.6(15.9%)504.6440.2(12.8%)Aguascalientes89.382.6(7.6%)395.6383.4(3.1%)Los Mochis58.762.15.9%292.8288.8(1.4%)Manzanillo15.414.8(3.7%)114.5102.1(10.9%)Total5,168.54,955.2(4.1%)26,968.825,438.4(5.7%) *Passengers in Tijuana who use CBX in both directions are classified as international.

CBX users (in thousands):           AirportMay-25May-26% ChangeJan - May 25Jan - May 26% ChangeTijuana329.8293.5(11.0%)1,673.01,489.2(11.0%)        Highlights for the month:

Seats and load factors
The seats available during May 2026 decreased by 7.5%, compared to May 2025. The load factors for the month went from 81.1% in May 2025 to 84.1% in May 2026. Company Description

Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) operates 12 airports throughout Mexico’s Pacific region, including the major cities of Guadalajara and Tijuana, the four tourist destinations of Puerto Vallarta, Los Cabos, La Paz and Manzanillo, and six other mid-sized cities: Hermosillo, Guanajuato, Morelia, Aguascalientes, Mexicali, and Los Mochis. In February 2006, GAP’s shares were listed on the New York Stock Exchange under the ticker symbol “PAC” and on the Mexican Stock Exchange under the ticker symbol “GAP”. In April 2015, GAP acquired 100% of Desarrollo de Concessioner Aeroportuarias, S.L., which owns a majority stake in MBJ Airports Limited, a company operating Sangster International Airport in Montego Bay, Jamaica. In October 2018, GAP entered into a concession agreement for the Norman Manley International Airport operation in Kingston, Jamaica, and took control of the operation in October 2019.

This press release may contain forward-looking statements. These statements are statements that are not historical facts and are based on management’s current view and estimates of future economic circumstances, industry conditions, company performance, and financial results. The words “anticipates”, “believes”, “estimates”, “expects”, “plans” and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations, and the factors or trends affecting financial condition, liquidity, or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends, or results will occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.    In accordance with Section 806 of the Sarbanes-Oxley Act of 2002 and Article 42 of the “Ley del Mercado de Valores”, GAP has implemented a “whistleblower” program, which allows complainants to anonymously and confidentially report suspected activities that involve criminal conduct or violations. The telephone number in Mexico, facilitated by a third party responsible for collecting these complaints, is 800 04 ETICA (38422) or WhatsApp +52 55 6538 5504. The website is www.lineadedenunciagap.com or by email at [email protected]. GAP’s Audit Committee will be notified of all complaints for immediate investigation.

Alejandra Soto, Investor Relations and Social Responsibility OfficerGisela Murillo, Investor Relations

[email protected]@aeropuertosgap.com.mx
+52 33 3880 1100 ext. 20294

  

LOS ANGELES--(BUSINESS WIRE)---- $XPOF--XPOF Investors Have Opportunity to Join Xponential Fitness, Inc. Fraud Investigation with the Schall Law Firm.

NEW YORK, March 24, 2026 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Xponential Fitness, Inc. (“Xponential” or the “Company”) (NYSE: XPOF). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.

The investigation concerns whether Xponential and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action]

On February 26, 2026, Xponential reported its fourth quarter and full year 2025 financial results, including a much larger-than-expected loss and a projected 16% decline in revenue in 2026.  Xponential also announced that its “has agreed to pay $17.0 million over a 12-month period” and “recently finalized a $22.75 million settlement (to be paid out over a thirty-five month period) with over 500 current and former franchisees” to settle allegations that it had misled franchisees over financial projections and the financial health of certain fitness studios. 

On this news, Xponential’s stock price fell $3.79 per share, or 47.08%, to close at $4.26 per share on February 27, 2026.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980

Bragar Eagel & Squire, P.C. Litigation Partner Brandon Walker Encourages Investors Who Suffered Losses In Xponential (XPOF) To Contact Him Directly To Discuss Their Options

If you purchased or acquired stock in Xponential and would like to discuss your legal rights, call Bragar Eagel & Squire partner Brandon Walker or Melissa Fortunato directly at (212) 355-4648.

Click here to participate in the action.

NEW YORK, March 30, 2026 (GLOBE NEWSWIRE) --

What’s Happening:

Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Xponential Fitness, Inc. (“Xponential” or the “Company”) (NYSE:XPOF) on behalf of Xponential stockholders. Our investigation concerns whether Xponential has violated the federal securities laws and/or engaged in other unlawful business practices.
Investigation Details:

On February 26, 2026, Xponential filed with the Securities and Exchange Commission a Current Report on Form 8-K announcing a stipulated consent agreement between the Federal Trade Commission ("FTC") and Xponential regarding the FTC's previous investigation into Xponential. The report stated that, "the Company has agreed to pay $17.0 million over a 12-month period. The Company has also recently finalized a $22.75 million settlement (to be paid out over a thirty-five month period) with over 500 current and former franchisees." Following this news, Xponential's stock price dropped $3.79 per share, or 47.1%, to close at $4.26 on February 27, 2026.
Next Steps:

If you purchased or otherwise acquired Xponential shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at [email protected], by telephone at (212) 355-4648, or by filling out this contact form.  There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:

Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, South Carolina, and California. The firm represents individual and institutional investors in securities,
derivative, and commercial litigation as well as individuals in consumer protection and data privacy litigation. The firm has a nationwide practice and routinely handles cases in both federal and state courts. For more information about the firm, please visit www.bespc.com.  Attorney advertising.  Prior results do not guarantee similar outcomes.

Follow us for updates on LinkedIn and Facebook, and keep up with other news by following Brandon Walker, Esq. on LinkedIn.

Contact Information:

Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
(212) 355-4648
[email protected]
www.bespc.com

LOS ANGELES, April 06, 2026 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Xponential Fitness, Inc., (“Xponential" or the "Company") (NYSE:XPOF) investors that the firm has initiated an investigation into possible securities fraud, and may file a class action on behalf of investors.

Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: [email protected], to discuss their legal rights, or join the case via https://portnoylaw.com/xponential-fitness-inc. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.

Xponential’s stock price plummeted by as much as 39% during intraday trading on June 27, 2023, thereby injuring investors. This sharp market decline was triggered by a June 26, 2023, report from Fuzzy Panda Research alleging that the boutique fitness franchisor was “hiding the fact that many of their brands and franchisees are struggling.” The research firm directly challenged management’s transparency, specifically disputing the CEO’s claims that the Company has “never closed a store” by documenting more than 30 permanently shuttered locations. Furthermore, the report cited franchise documents suggesting a dire financial outlook for the majority of the network, claiming that 8 out of every 10 Xponential brands lose money on a monthly basis. With allegations that over half of the Company’s studios have failed to ever produce a positive financial return, the market reacted with significant volatility to the prospect of systemic operational failures and misleading corporate narratives.

The Portnoy Law Firm represents investors in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.

Lesley F. Portnoy, Esq.
Admitted CA, NY and TX Bar
[email protected]
310-692-8883
www.portnoylaw.com

Attorney Advertising

Posted by Defense World Staff on Apr 7th, 2026

JPMorgan Chase & Co. raised its holdings in Xponential Fitness, Inc. (NYSE:XPOF – Free Report) by 75.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 297,838 shares of the company’s stock after purchasing an additional 127,631 shares during the period. JPMorgan Chase & Co. owned 0.61% of Xponential Fitness worth $2,320,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. SkyView Investment Advisors LLC lifted its stake in shares of Xponential Fitness by 4.9% during the second quarter. SkyView Investment Advisors LLC now owns 39,871 shares of the company’s stock valued at $302,000 after buying an additional 1,859 shares during the period. Raymond James Financial Inc. lifted its stake in shares of Xponential Fitness by 20.4% during the third quarter. Raymond James Financial Inc. now owns 14,732 shares of the company’s stock valued at $115,000 after buying an additional 2,500 shares during the period. Rhumbline Advisers lifted its stake in shares of Xponential Fitness by 8.1% during the second quarter. Rhumbline Advisers now owns 35,633 shares of the company’s stock valued at $267,000 after buying an additional 2,668 shares during the period. Vanguard Group Inc. lifted its stake in shares of Xponential Fitness by 0.3% during the third quarter. Vanguard Group Inc. now owns 1,554,023 shares of the company’s stock valued at $12,106,000 after buying an additional 4,495 shares during the period. Finally, Aquatic Capital Management LLC purchased a new position in shares of Xponential Fitness during the third quarter valued at approximately $44,000. Hedge funds and other institutional investors own 58.55% of the company’s stock.

Xponential Fitness Stock Performance Shares of XPOF stock opened at $6.74 on Tuesday. Xponential Fitness, Inc. has a one year low of $3.83 and a one year high of $11.14. The company has a 50 day moving average price of $6.92 and a 200 day moving average price of $7.22. The firm has a market capitalization of $330.55 million, a price-to-earnings ratio of -4.62 and a beta of 1.22.

Xponential Fitness (NYSE:XPOF – Get Free Report) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($0.91) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.88). Xponential Fitness had a negative return on equity of 2.19% and a negative net margin of 10.90%.The company had revenue of $82.96 million for the quarter, compared to analyst estimates of $73.42 million. During the same period last year, the company posted ($0.19) EPS. The business’s revenue for the quarter was down .3% on a year-over-year basis. As a group, equities analysts forecast that Xponential Fitness, Inc. will post 0.61 EPS for the current fiscal year.

Wall Street Analyst Weigh In XPOF has been the topic of several recent analyst reports. Guggenheim reduced their price objective on shares of Xponential Fitness from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, March 2nd. Roth Mkm downgraded shares of Xponential Fitness from a “buy” rating to a “neutral” rating and set a $7.00 price objective on the stock. in a research note on Friday, February 27th. Robert W. Baird reduced their price objective on shares of Xponential Fitness from $8.00 to $6.50 and set a “neutral” rating on the stock in a research note on Friday, February 27th. Wall Street Zen downgraded shares of Xponential Fitness from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, KeyCorp initiated coverage on shares of Xponential Fitness in a research note on Thursday, March 12th. They set a “sector weight” rating on the stock. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $8.92.

Check Out Our Latest Report on Xponential Fitness

About Xponential Fitness (Free Report)

Xponential Fitness is a leading franchisor and operator of boutique fitness studios headquartered in Irvine, California. The company specializes in developing, marketing, and supporting a portfolio of fitness brands that deliver low-impact cardio, strength training, and mindful movement workouts. Through its asset-light franchise model, Xponential provides entrepreneurs with proprietary studio designs, branded equipment, digital support, and comprehensive training programs to ensure consistent member experiences.

Its portfolio comprises core brands such as Club Pilates, Pure Barre, CycleBar, StretchLab, YogaSix, Row House, Rumble, AKT, and STRIDE.

Featured Stories Five stocks we like better than Xponential Fitness

Receive News & Ratings for Xponential Fitness Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Xponential Fitness and related companies with MarketBeat.com's FREE daily email newsletter.

« PREVIOUS HEADLINEAmerican Coastal Insurance Corporation $ACIC Shares Acquired by JPMorgan Chase & Co.

NEXT HEADLINE »JPMorgan Chase & Co. Reduces Holdings in SPDR Blackstone Senior Loan ETF $SRLN

IRVINE, Calif.--(BUSINESS WIRE)--Xponential Fitness, a leading curator of globally and nationally recognized boutique health and wellness brands, announced today the signing of its largest multi-unit agreement in the company's history. Riser Fitness has obtained the remaining territories in six states and has agreed to open 127 Club Pilates studios over the next five years. The agreement will expand Riser Fitness and Club Pilates' reach in the following states: California Idaho Minnesota Nevada.

IRVINE, Calif.--(BUSINESS WIRE)--Xponential Fitness, Inc. (NYSE: XPOF) (“Xponential” or the “Company”), one of the leading global franchisors of boutique health and wellness brands, today reported financial results for the first quarter ended March 31, 2026.

Financial Highlights: Q1 2026 Compared to Q1 2025

Revenue of $60.7 million decreased 21%. North America system-wide sales1 increased 2% to $436.9 million. North America same store sales2 decreased 6%, compared to growth of 6%. North America quarterly run-rate average unit volume (AUV)3 of $662,000, compared to $685,000. Net loss of $0.8 million, or a loss of $0.02 per basic share, on a share count of 37.3 million shares of Class A Common Stock, compared to a net loss of $2.7 million, or loss per basic share of $0.10, on a share count of 33.9 million shares of Class A Common Stock. Adjusted net loss4 of $2.0 million, or an adjusted net loss of $0.04 per basic share4, compared to adjusted net loss4 of $7.7 million, or adjusted net loss of $0.20 per basic share4. Adjusted EBITDA5 of $20.4 million, compared to $27.3 million. “During the first quarter, we continued to strengthen execution across Xponential, including the addition of Robert Julian as interim Chief Financial Officer, Erik Quade as Chief Information Officer, and starting mid-May Steph So as our new Chief Marketing Officer, which further deepens our capabilities across finance, technology, and marketing,” said Mike Nuzzo, CEO of Xponential Fitness, Inc. “We are operating as a more unified organization, aligning marketing, operations, technology, and brand-building to drive stronger performance and lay the foundation for continued improvement.”

Mr. Nuzzo continued, “As we look ahead, our focus is on restoring sustainable organic growth through a more disciplined framework. This includes stabilizing top-of-funnel lead generation, improving lead-to-member conversion, and optimizing pricing and membership structures over time, all while continuing to support retention through class innovation, studio remodel programs, and clear brand positioning. We are confident these actions will strengthen performance and position us well for the quarters ahead.”

Operating Results for the First Quarter Ended March 31, 2026

Total revenue was $60.7 million, down 21% from the prior year period. The decline in total revenue was expected and driven primarily by strategic divestitures, fewer equipment installations, and lower merchandise revenue following the Company’s transition to the new outsourced logistics arrangement.

Franchise revenue was $41.2 million, down 6% year-over-year. This decline was driven primarily by a decrease in same store sales, coupled with brand divestitures completed in 2025.

Equipment revenue was $4.4 million, down 61% year-over-year. This decrease was primarily the result of fewer global equipment installations, driven by fewer studio openings and lower franchise license sales.

Merchandise revenue was $0.7 million, down 90% year-over-year. The decrease was primarily driven by the Company’s transition from an in-house wholesale model, where it recorded the full value of merchandise revenue, to an outsourced retail model, which now records only the commission, or net profit from retail items sold.

Franchise marketing fund revenue was $8.7 million, down 6% year-over-year. The decrease was primarily due to lower system-wide sales stemming from divested brands.

Other service revenue was $5.8 million, down 8% year-over-year, primarily driven by lower vendor commission and brand access fee revenues.

Selling, general and administrative expenses were $30.0 million, down 34% year-over-year, primarily driven by lower legal and personnel-related costs.

Marketing fund expenses were $11.7 million, up 25% year-over-year. This increase reflected the timing of incremental marketing spend, as the Company front-loaded more investment in the first quarter of 2026 compared with the first quarter of 2025.

Net loss totaled $0.8 million, or a loss of $0.02 per basic share, compared to a net loss of $2.7 million, or a loss of $0.10 per basic share, in the prior year period.

Adjusted net loss4 was $2.0 million, or adjusted net loss of $0.04 per basic share4, compared to adjusted net loss4 of $7.7 million, or adjusted net loss of $0.20 per basic share4.

Adjusted EBITDA5 was $20.4 million, down 25% from $27.3 million in the prior year period.

Liquidity and Capital Resources

As of March 31, 2026, the Company had approximately $21.5 million of cash, cash equivalents and restricted cash and $523.7 million in total long-term debt. Net cash used in operating activities was $21.7 million for the quarter ended March 31, 2026.

All financial data included in this release refer to global numbers, unless otherwise noted. All KPI information is presented on an adjusted basis to include full historical data for all brands in the brand portfolio as of March 31, 2026, and to exclude all information for all brands not owned as of March 31, 2026. Definitions for the non-GAAP measures and a reconciliation to the corresponding GAAP measures are included in the tables that accompany this release.

2026 Outlook

The Company is reiterating full year 2026 outlook, which compares to 2025 results as follows:

Net new studio openings in the range of 150 to 170, or a decrease of 20% at the midpoint; North America system-wide sales1 in the range of $1.72 billion to $1.80 billion, or an increase of 1% at the midpoint; Revenue in the range of $260.0 million to $270.0 million, representing a decrease of 16% at the midpoint; and Adjusted EBITDA5 in the range of $100.0 million to $110.0 million, representing a decrease of 6% at the midpoint. Additional key assumptions for full year 2026 include:

Tax rate in the mid-to-high single digits; Share count of 40.9 million shares of Class A Common Stock for the GAAP EPS and Adjusted EPS calculations. A full explanation of the Company’s share count calculation and associated EPS and Adjusted EPS calculations can be found in the tables at the end of this press release. The Company is not able to provide a quantitative reconciliation of the estimated full year Adjusted EBITDA for fiscal year ending December 31, 2026 without unreasonable efforts to the most directly comparable GAAP financial measure due to the high variability, complexity and low visibility with respect to certain items such as taxes, tax receivable agreement remeasurements, and income and expense from changes in fair value of contingent consideration from acquisitions. We expect the variability of these items to have a potentially unpredictable and potentially significant impact on future GAAP financial results, and, as such, we also believe that any reconciliations provided would imply a degree of precision that would be confusing or misleading to investors.

First Quarter 2026 Conference Call

The Company will host a conference call today at 1:30 p.m. Pacific Time / 4:30 p.m. Eastern Time to discuss its first quarter 2026 financial results. Participants may join the conference call by dialing 1-877-407-9716 (United States) or 1-201-493-6779 (International).

A live webcast of the conference call will also be available on the Company’s Investor Relations site at https://investor.xponential.com/. For those unable to participate in the conference call, a telephonic replay of the call will be available shortly after the completion of the call, until 11:59 p.m. ET on Thursday, May 21, 2026, by dialing 1-844-512-2921 (United States) or 1-412-317-6671 (International) and entering the replay pin number: 13759469.

About Xponential Fitness, Inc.

Xponential Fitness, Inc. (NYSE: XPOF) is one of the leading global franchisors of boutique health and wellness brands. Through its mission to deliver the talents, assets, and capabilities necessary for successful franchise growth, the Company operates a diversified platform of five brands spanning modalities including Pilates, barre, stretching, strength training and yoga. In partnership with its franchisees and master franchisees, Xponential offers energetic, accessible, and personalized workout experiences led by highly qualified instructors in studio locations throughout the U.S. and internationally, with franchise, master franchise and international expansion agreements in 49 U.S. states, Puerto Rico, and 28 additional countries. Xponential’s portfolio of brands includes Club Pilates, the largest Pilates brand in the United States; StretchLab, a concept offering one-on-one and group stretching services; YogaSix, the largest franchised yoga brand in the United States; Pure Barre, a total body workout that uses the ballet barre to perform small isometric movements, and the largest Barre brand in the United States; and BFT, a functional training and strength-based program. For more information, please visit the Company’s website at xponential.com.

Non-GAAP Financial Measures

In addition to our results determined in accordance with GAAP, we believe non-GAAP financial measures are useful in evaluating our operating performance. We use certain non-GAAP financial information, such as EBITDA, Adjusted EBITDA, adjusted net income (loss), and adjusted net earnings (loss) per share, which exclude certain non-operating or non-recurring items, including but not limited to, equity-based compensation expenses and related employer payroll taxes, acquisition and transaction expenses (income), litigation expenses, financial transaction fees and related expenses, tax receivable agreement remeasurement, impairment of goodwill and other assets, loss and expenses due to brand divestitures and wind down (excluding impairments), transformation initiative costs, and charges incurred in connection with our restructuring plan that we believe are not representative of our core business or future operating performance, to evaluate our ongoing operations and for internal planning and forecasting purposes. We believe that non-GAAP financial information, when taken collectively with comparable GAAP financial measures, is helpful to investors because it provides consistency and comparability with past financial performance and provides meaningful supplemental information regarding our performance by excluding certain items that may not be indicative of our business, results of operations or outlook. However, non-GAAP financial information is presented for supplemental informational purposes only, has limitations as an analytical tool, and should not be considered in isolation or as a substitute for financial information presented in accordance with GAAP. In addition, other companies, including companies in our industry, may calculate similarly titled non-GAAP measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of our non-GAAP financial measures as tools for comparison. We seek to compensate such limitations by providing a detailed reconciliation for the non-GAAP financial measures to the most directly comparable financial measures stated in accordance with GAAP. Investors are encouraged to review the related GAAP financial measures and the reconciliation of the non-GAAP financial measures to their most directly comparable GAAP financial measures and not rely on any single financial measure to evaluate our business. For a reconciliation of non-GAAP to GAAP measures discussed in this release, please see the tables at the end of this press release.

Forward-Looking Statements

This press release contains forward-looking statements that are based on current expectations, estimates, forecasts and projections of future performance based on management’s judgment, beliefs, current trends, and anticipated financial performance. Forward-looking statements include, without limitation, statements relating to expected growth of our business; expected benefit of the changes in management; projected number of new studio openings; profitability; anticipated industry trends; projected financial and performance information such as system-wide sales and Adjusted EBITDA; and other statements under the section “2026 Outlook”; our competitive position in the boutique fitness and broader health and wellness industry; and ability to execute our business strategies and our strategic growth drivers. Forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from those contained in the forward-looking statements. These factors include, but are not limited to: franchisees’ ability to generate sufficient revenues; our ability to anticipate and satisfy consumer preferences; risks related to loss of reputation and brand awareness; our ability to manage changes in executive leadership; our ability to attract and retain key senior management and key employees; risks relating to expansion into international markets; macroeconomic conditions or economic downturns; geopolitical uncertainty, including, but not limited to, the impact of the presidential administration in the U.S. trade policies and tariffs and the ongoing conflicts in Europe and the Middle East; general economic conditions and industry trends; risks relating to our review of strategic alternatives, including that such review may not result in a transaction and could adversely affect our business, operations and stock price; and other risks as described in our filings with the Securities and Exchange Commission (“SEC”), including our Annual Report on Form 10-K for the full year ended December 31, 2025, filed by Xponential with the SEC on March 4, 2026, and other periodic reports filed with the SEC. Other unknown or unpredictable factors or underlying assumptions subsequently proving to be incorrect could cause actual results to differ materially from those in the forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, level of activity, performance, or achievements. You should not place undue reliance on these forward-looking statements. All information provided in this press release is as of today’s date, unless otherwise stated, and Xponential undertakes no duty to update such information, except as required under applicable law.

Xponential Fitness, Inc.

Condensed Consolidated Balance Sheets

(Unaudited)

(in thousands, except per share amounts)

  March 31, December 31, 2026

2025

Assets Current assets: Cash, cash equivalents and restricted cash $

21,470

$

45,863

Accounts receivable, net 20,838

18,449

Inventories 2,504

2,222

Prepaid expenses and other current assets 26,167

24,151

Deferred costs, current portion 3,913

3,671

Notes receivable, net 96

290

Total current assets 74,988

94,646

Property and equipment, net 10,181

10,891

Right-of-use assets 12,797

13,736

Goodwill 127,789

127,789

Intangible assets, net 65,687

66,507

Deferred costs, net of current portion 23,864

24,860

Other assets 7,097

7,205

Total assets $

322,403

$

345,634

Liabilities, redeemable convertible preferred stock and stockholders' equity (deficit) Current liabilities: Accounts payable $

18,086

$

26,282

Accrued expenses 41,827

51,202

Deferred revenue, current portion 20,743

19,324

Current portion of long-term debt 5,250

5,250

Other current liabilities 13,117

13,917

Total current liabilities 99,023

115,975

  Deferred revenue, net of current portion 68,137

69,567

Contingent consideration from acquisitions 7,122

10,309

Long-term debt, net of current portion, discount and issuance costs 499,999

500,500

Lease liabilities, net of current portion 13,101

14,243

Other liabilities 6,993

6,993

Total liabilities 694,375

717,587

Commitments and contingencies Redeemable convertible preferred stock, $0.0001 par value, 400 shares authorized, none issued and outstanding as of March 31, 2026 and December 31, 2025 —

—

Stockholders' equity (deficit): Undesignated preferred stock, $0.0001 par value, 4,600 shares authorized, none issued and outstanding as of March 31, 2026 and December 31, 2025 —

—

Class A common stock, $0.0001 par value, 500,000 shares authorized, 41,812 and 35,256 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively 4

3

Class B common stock, $0.0001 par value, 500,000 shares authorized, 7,303 and 13,738 shares issued, and 7,228 and 13,663 shares outstanding as of March 31, 2026 and December 31, 2025, respectively —

1

Additional paid-in capital 443,635

489,732

Receivable from shareholder (17,016

)

(16,603

)

Accumulated deficit (741,245

)

(740,520

)

Treasury stock, at cost, 75 shares outstanding as of March 31, 2026 and December 31, 2025 (1,697

)

(1,697

)

Total stockholders' deficit attributable to Xponential Fitness, Inc. (316,319

)

(269,084

)

Noncontrolling interests (55,653

)

(102,869

)

Total stockholders' deficit (371,972

)

(371,953

)

Total liabilities, redeemable convertible preferred stock and stockholders' deficit $

322,403

$

345,634

  Xponential Fitness, Inc.

Condensed Consolidated Statements of Operations

(Unaudited)

(in thousands, except per share amounts)

  Three Months Ended March 31, 2026

2025

Revenue, net: Franchise revenue $

41,154

$

43,894

Equipment revenue 4,351

11,104

Merchandise revenue 653

6,255

Franchise marketing fund revenue 8,712

9,269

Other service revenue 5,844

6,361

Total revenue, net 60,714

76,883

Operating costs and expenses: Costs of product revenue 3,630

11,972

Costs of franchise and service revenue 3,262

4,097

Selling, general and administrative expenses 30,040

45,545

Impairment of goodwill and other noncurrent assets —

1,915

Depreciation and amortization 2,252

2,956

Marketing fund expense 11,674

9,357

Acquisition and transaction income (3,187

)

(8,638

)

Total operating costs and expenses 47,671

67,204

Operating income 13,043

9,679

Other expense (income): Interest income (637

)

(619

)

Interest expense 14,494

11,388

Tax receivable agreement expense —

1,084

Total other expense 13,857

11,853

Loss before income taxes (814

)

(2,174

)

Income taxes 6

485

Net loss (820

)

(2,659

)

Less: net loss attributable to noncontrolling interests (95

)

(736

)

Net loss attributable to Xponential Fitness, Inc. $

(725

)

$

(1,923

)

  Net loss per share of Class A common stock: Basic $

(0.02

)

$

(0.10

)

Diluted $

(0.02

)

$

(0.10

)

Weighted average shares of Class A common stock outstanding: Basic 37,317

33,910

Diluted 37,317

33,910

  Xponential Fitness, Inc.

Condensed Consolidated Statements of Cash Flows

(Unaudited)

(in thousands)

  Three Months Ended March 31, 2026

2025

Cash flows from operating activities: Net loss $

(820

)

$

(2,659

)

Adjustments to reconcile net loss to net cash provided by (used in) operating activities: Depreciation and amortization 2,252

2,956

Amortization and write off of debt issuance costs 78

50

Amortization and write off of discount on long-term debt 779

1,333

Change in contingent consideration from acquisitions (3,187

)

(8,638

)

Non-cash lease expense 939

1,137

Change in tax receivable agreement liability —

1,084

Bad debt expense 113

249

Equity-based compensation 1,984

3,281

Non-cash interest (474

)

(358

)

Gain on disposal of assets and lease terminations (354

)

—

Change in contingent consideration receivable from Lindora 114

—

Impairment of goodwill and other noncurrent assets —

1,915

Changes in assets and liabilities, net of effect of acquisition: Accounts receivable (2,003

)

(3,229

)

Inventories (282

)

1,696

Prepaid expenses and other current assets (2,303

)

(4,049

)

Operating lease liabilities (1,021

)

(1,034

)

Deferred costs 753

607

Notes receivable, net 1

—

Accounts payable (8,099

)

(245

)

Accrued expenses (9,875

)

15,299

Other current liabilities (569

)

(459

)

Deferred revenue (11

)

(4,480

)

Other assets 296

1,359

Other liabilities —

3

Net cash provided by (used in) operating activities (21,689

)

5,818

Cash flows from investing activities: Purchases of property and equipment (464

)

(465

)

Purchase of intangible assets (353

)

(399

)

Notes receivable issued —

(173

)

Notes receivable payments received 196

40

Net cash used in investing activities (621

)

(997

)

Cash flows from financing activities: Borrowings from long-term debt, net of original discount issue —

10,000

Payments on long-term debt (1,313

)

(1,374

)

Debt issuance costs —

(90

)

Payment of preferred stock dividend —

(1,792

)

Payments of contingent consideration —

(500

)

Payments for taxes related to net share settlement of restricted share units (632

)

(919

)

Payments for distributions to Pre-IPO LLC Members (138

)

(315

)

Net cash provided by (used in) financing activities (2,083

)

5,010

Increase (decrease) in cash, cash equivalents and restricted cash (24,393

)

9,831

Cash, cash equivalents and restricted cash, beginning of period 45,863

32,739

Cash, cash equivalents and restricted cash, end of period $

21,470

$

42,570

  Xponential Fitness, Inc.

Net Income (Loss) to GAAP EPS

(in thousands, except per share amounts)

  Three months ended March 31, 2026

2025

Numerator: Net loss attributable to XPO Inc. $

(820

)

$

(2,659

)

Less: net loss attributable to noncontrolling interests 95

1,304

Less: dividends on preferred shares —

(1,898

)

Net loss attributable to XPO Inc. - basic and diluted (725

)

(3,253

)

Denominator: Weighted average shares of Class A common stock outstanding - basic and diluted 37,317

33,910

  Net loss per share attributable to Class A common stock - basic $

(0.02

)

$

(0.10

)

Net loss per share attributable to Class A common stock - diluted $

(0.02

)

$

(0.10

)

  Anti-dilutive shares excluded from diluted loss per share of Class A common stock: Restricted stock units 2,499

1,718

Conversion of Class B common stock to Class A common stock 7,228

13,664

Convertible preferred stock —

8,112

Treasury share options 75

75

Rumble contingent shares 2,024

2,024

  Xponential Fitness, Inc.

Reconciliations of GAAP to Non-GAAP Measures

(in thousands, except per share amounts)

  Three Months Ended March 31, 2026

2025

Net loss $

(820

)

$

(2,659

)

Interest expense, net 13,857

10,769

Income taxes 6

485

Depreciation and amortization 2,252

2,956

EBITDA 15,295

11,551

Equity-based compensation 1,984

3,281

Employer payroll taxes related to equity-based compensation 44

115

Acquisition and transaction income (3,187

)

(8,638

)

Litigation expenses 4,040

16,189

Financial transaction fees and related expenses 189

303

TRA remeasurement —

1,084

Impairment of goodwill and other noncurrent assets —

1,915

Loss and expenses due to brand divestitures and wind down (excluding impairments) 960

81

Transformation initiative costs —

889

Restructuring and related charges (excluding impairments) 1,088

555

Adjusted EBITDA $

20,413

$

27,325

Three months ended March 31, 2026

2025

Net loss $

(820

)

$

(2,659

)

Acquisition and transaction income (3,187

)

(8,638

)

TRA remeasurement —

1,084

Impairment of goodwill and other noncurrent assets —

1,915

Loss and expenses due to brand divestitures and wind down (excluding impairments) 960

81

Restructuring and related charges (excluding impairments) 1,088

555

Adjusted net loss $

(1,959

)

$

(7,662

)

Adjusted net loss attributable to noncontrolling interest (467

)

(2,291

)

Adjusted net loss attributable to Xponential Fitness, Inc. (1,492

)

(5,371

)

Dividends on preferred shares —

(1,330

)

Adjusted loss per share - basic and diluted numerator $

(1,492

)

$

(6,701

)

  Adjusted net loss per share - basic and diluted $

(0.04

)

$

(0.20

)

Weighted average shares of Class A common stock outstanding - basic and diluted 37,317

33,910

    Shares excluded from adjusted diluted loss per share of Class A common stock Restricted stock units 2,499

1,718

Convertible preferred stock —

8,112

Conversion of Class B common stock to Class A common stock 7,228

13,664

Treasury share options 75

75

Rumble contingent shares 2,024

2,024

Note: The above adjusted net income (loss) per share is computed by dividing the adjusted net income (loss) attributable to holders of Class A common stock by the weighted average shares of Class A common stock outstanding during the period. Total share count does not include potential future shares vested upon achieving certain earn-out thresholds. Net income, however, continues to take into account the non-cash contingent liability primarily attributable to Rumble.

Footnotes

1. System-wide sales represent gross sales by all North America studios (which includes the United States, U.S. territories and Canada). System-wide sales include sales by franchisees that are not revenue realized by us in accordance with GAAP. While we do not record sales by franchisees as revenue, and such sales are not included in our consolidated financial statements, this operating metric relates to our revenue because we receive approximately 7% and 2% of the sales by franchisees as royalty revenue and marketing fund revenue, respectively. We believe that this operating measure aids in understanding how we derive our royalty revenue and marketing fund revenue and is important in evaluating our performance. System-wide sales growth is driven by new studio openings and increases in same store sales. Management reviews system-wide sales weekly, which enables us to assess changes in our franchise revenue, overall studio performance, the health of our brands and the strength of our market position relative to competitors.

2. Same store sales refer to period-over-period sales comparisons for the base of studios. We define the same store sales to include monthly sales for any traditional studio location in North America. If the studio has generated at least 13 months of consecutive positive sales and opened at least 13 calendar months ago as of any month within the measurement period, the respective comparable months will be included. We measure same store sales based solely upon monthly sales as derived through the designated point-of-sale system. This measure highlights the performance of existing studios, while excluding the impact of new studio openings. Management reviews same store sales to assess the health of the franchised studios.

3. AUV is calculated by dividing sales during the applicable period for all studios contributing to AUV by the number of studios contributing to AUV. All traditional studio locations in North America are included in the AUV calculation, so long as they meet certain time since opening and sales criteria (as defined immediately below). In particular, AUV (LTM as of period end) and Quarterly AUV (run rate) are calculated as follows:

AUV (LTM as of period end) consists of the average sales for the trailing 12 calendar months for all traditional studio locations in North America that opened at least 13 calendar months ago as of the measurement date and that have generated positive sales for each of the last 13 calendar months as of the measurement date. Quarterly AUV (run rate) consists of average quarterly sales for all traditional studio locations in North America that had opened at least six calendar months ago as of the beginning of the respective quarter, and that have non-zero sales in the respective quarter (including nominal or negative sales figures; the only figures excluded are exact $0 amounts in the quarter), multiplied by four. We measure sales for AUV based solely upon monthly sales as derived through the designated point-of-sale system. AUV is impacted by changes in same store sales, studio openings, and studio closures. Management reviews AUV to assess studio economics.

4. Adjusted net income (loss) is a non-GAAP financial measure that excludes certain amounts and is used to supplement net income (loss). Adjusted net income (loss) assumes that all net income (loss) is attributable to Xponential Fitness, Inc., which assumes the full exchange of all outstanding Class B common stock for shares of Class A common stock of Xponential Fitness, Inc., adjusted for the impact of certain non-cash and other items that we do not consider in our evaluation of ongoing operating performance. Adjusted net income (loss) per share, diluted, is calculated by dividing adjusted net income (loss) by the total weighted-average shares of Class A common stock outstanding plus any dilutive securities and assuming the full conversion of all outstanding Class B common stock. Total share count does not include potential future shares vested upon achieving certain earn-out thresholds.

5. We define Adjusted EBITDA as EBITDA (net income/loss before interest, taxes, depreciation and amortization), adjusted for the impact of certain non-cash and other items that we do not consider in our evaluation of ongoing operating performance. These items include equity-based compensation and related employer payroll taxes, acquisition and transaction expenses (income) (including change in contingent consideration and transaction bonuses), litigation expenses (consisting of legal and related fees for specific proceedings that arise outside of the ordinary course of our business net of insurance reimbursements), fees for financial transactions, such as secondary public offering expenses for which we do not receive proceeds (including bonuses paid to executives related to completion of such transactions) and other contemplated corporate transactions, expense related to the remeasurement of our TRA obligation, expense related to loss on impairment or write down of goodwill and other noncurrent assets, loss and expenses related to brand divestitures and wind down (including expenses directly related to the divested or wound down brands for arrangements that existed prior to divestiture or wind down), transformation initiative costs (primarily consisting of third-party professional consulting fees related to modifications of our business strategy and cost saving initiatives), other income (consisting of royalties received from divested brands), and restructuring and related charges incurred in connection with our restructuring plan that we do not believe reflect our underlying business performance and affect comparability.

More News From Xponential Fitness, Inc.

Xponential Fitness (XPOF - Free Report) reported $60.71 million in revenue for the quarter ended March 2026, representing a year-over-year decline of 21%. EPS of -$0.04 for the same period compares to -$0.20 a year ago.

The reported revenue represents a surprise of -6.07% over the Zacks Consensus Estimate of $64.64 million. With the consensus EPS estimate being $0.11, the EPS surprise was -138.1%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Xponential Fitness performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Same store sales: -6% versus the three-analyst average estimate of -3.7%.Revenue- Merchandise: $0.65 million versus $2.22 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -89.6% change.Revenue- Franchise: $41.15 million versus $39.22 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -6.2% change.Revenue- Franchise marketing fund: $8.71 million versus the four-analyst average estimate of $8.78 million. The reported number represents a year-over-year change of -6%.Revenue- Other service: $5.84 million compared to the $5.8 million average estimate based on three analysts. The reported number represents a change of -8.1% year over year.Revenue- Equipment: $4.35 million versus the three-analyst average estimate of $8.36 million. The reported number represents a year-over-year change of -60.8%.View all Key Company Metrics for Xponential Fitness here>>>

Shares of Xponential Fitness have returned -9.8% over the past month versus the Zacks S&P 500 composite's +11.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

129 Followers

Analyst’s Disclosure: I/we have a beneficial long position in the shares of XPOF 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.

Xponential Fitness, Inc. (NYSE: XPOF) (“Xponential” or the “Company”), one of the leading global franchisors of boutique health and wellness brands, announced today that its Board of Directors has appointed Danielle Porto Parra as President, effective immediately.

Danielle is a seasoned operational leader with over 20 years of experience building and scaling high-performing brands. She brings deep expertise across marketing, operations, product development, and digital, with a proven ability to drive profitable growth, enhance operating performance, and strengthen brand relevance.

Her leadership experience spans Fortune 100 companies, private equity-backed organizations, franchise systems, and entrepreneurial high-growth businesses. Most recently, Danielle served as President Chief Brand Officer of McAlister’s Deli. Prior to that, she led Marketing & Culinary Innovation at GoTo Foods, across seven brands including Cinnabon, Auntie Anne’s and Jamba. She also has held C-level and executive roles at Pep Boys, Build.com, Caesars Entertainment and Petco. Danielle earned business and advertising degrees from the University of Georgia.

“On behalf of the Board, I am excited to announce Danielle’s appointment as Xponential continues to execute against its strategic priorities,” said Mr. Nuzzo, Chief Executive Officer, Director of Xponential Fitness. “Danielle brings deep expertise across both franchised and company-operated models, with a proven track record of improving unit-level economics, aligning operators, and enhancing the customer experience. Her ability to combine strategic vision with operational discipline positions her well to help us continue to build a best-in-class partnership with our franchisees. The Board is confident in her leadership and strategic perspective, and I look forward to working closely with her as we advance our mission.”

“I'm honored to join Xponential and our franchisees in our mission to improve health and wellness in everyday life,” said Ms. Parra, President of Xponential Fitness. “At the core of my leadership approach is a commitment to driving long-term success for our franchisees, when they succeed, our brands and the communities we serve thrive alongside them.”

About Xponential Fitness, Inc.

Xponential Fitness, Inc. (NYSE: XPOF) is one of the leading global franchisors of boutique health and wellness brands. Through its mission to deliver the talents, assets, and capabilities necessary for successful franchise growth, the Company operates a diversified platform of five brands spanning modalities including Pilates, barre, stretching, strength training, and yoga. In partnership with its franchisees, and master franchisees, Xponential offers energetic, accessible, and personalized workout experiences led by highly qualified instructors in studio locations throughout the U.S. and internationally, with franchise, master franchise and international expansion agreements in 49 U.S. states, Puerto Rico, and 28 additional countries. Xponential’s portfolio of brands includes Club Pilates, the largest Pilates brand in the United States; StretchLab, a concept offering one-on-one and group stretching services; YogaSix, the largest franchised yoga brand in the United States; Pure Barre, a total body workout that uses the ballet barre to perform small isometric movements, and the largest barre brand in the United States; and BFT, a functional training and strength-based program. For more information, please visit the Company’s website at xponential.com.

Forward-Looking Statements

This press release contains forward-looking statements that are based on current expectations, estimates, forecasts and projections of future performance based on management’s judgment, beliefs, current trends, and anticipated financial performance. Forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from those contained in the forward-looking statements. These factors include, but are not limited to: franchisees’ ability to generate sufficient revenues; our ability to anticipate and satisfy consumer preferences; risks related to loss of reputation and brand awareness; our ability to manage changes in executive leadership; our ability to attract and retain key senior management and key employees; risks relating to expansion into international markets; macroeconomic conditions or economic downturns; geopolitical uncertainty, including the impact of the presidential administration in the U.S. trade policies and tariffs; general economic conditions and industry trends; and other risks as described in our SEC filings, including our Annual Report on Form 10-K for the full year ended December 31, 2025, and other periodic reports filed with the SEC. Other unknown or unpredictable factors or underlying assumptions subsequently proving to be incorrect could cause actual results to differ materially from those in the forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, level of activity, performance, or achievements. You should not place undue reliance on these forward-looking statements. All information provided in this press release is as of today’s date, unless otherwise stated, and Xponential undertakes no duty to update such information, except as required under applicable law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260518647899/en/

On April 27, 2026, we delve into the discounted cash flow (DCF) analysis for The Toronto-Dominion Bank TD , a major player in the financial sector. The bank's stock has shown notable performance, with a year-to-date increase of 13.3% and a remarkable 75.1% rise over the past year. However, the current price of $105.03 raises questions about its valuation.

DCF Earnings-based intrinsic value of $79.11 vs price of $105.03 (margin of safety: -22.5%) DCF FCF-based intrinsic value of $-48.05 vs price of $105.03 (significantly overvalued) GF Score™ of 80/100 indicates a reliable DCF input What Is TD Worth? DCF Earnings-Based Model The DCF earnings-based model for TD employs a two-stage approach, where we first project earnings growth for the initial 10 years, followed by a terminal growth phase. The model assumes a current EPS of $6.34, with an expected growth rate of 6.2% over the next decade. The discount rate is set at 11%, combining the risk-free rate and equity risk premium.

Parameter Value Current EPS (TTM, excl. non-recurring) $6.34 10-Year Growth Rate 6.2% 10-Year Treasury Rate 4.32% Discount Rate (ceil(Treasury) + 6%) 11% Terminal Growth Rate 4% In the growth phase (Years 1-10), we project that EPS will grow at a rate of 6.2% per year, which, when discounted at 11%, results in a growth stage value of $50.13 per share. Following this, in the terminal phase (Years 11-20), we assume a slower growth rate of 4%, leading to a terminal stage value of $28.98 per share. The intrinsic value derived from this model is calculated as follows:

Stage Description Value Growth Stage (Years 1-10) EPS growing at 6.2%, discounted at 11% $50.13 Terminal Stage (Years 11-20) 4% terminal growth, discounted at 11% $28.98 Intrinsic Value Growth + Terminal $79.11 With the current price at $105.03, the intrinsic value of $79.11 indicates that TD is fairly valued, with a margin of safety of -22.5%. It is important to note that GuruFocus utilizes EPS excluding non-recurring items, as research suggests that stock prices correlate more closely with earnings than with free cash flow. For further calculations, you can visit the TD DCF Calculator.

What Does the Free Cash Flow DCF Say? When we apply a free cash flow (FCF) DCF model, the intrinsic value comes out to be $-48.05. This starkly contrasts with the earnings-based valuation, indicating a significant discrepancy between the two models. The FCF-based analysis suggests that TD is significantly overvalued, with a margin of safety of -100.0%.

How Does GF Value™ Compare to the DCF Models? The GF Value™ for TD stands at $77.95, providing a third perspective on the bank's valuation. This proprietary measure is calculated based on historical trading multiples, past business growth, and future performance estimates. When comparing all three models, the earnings-based DCF and GF Value™ suggest that TD is fairly valued, while the FCF model indicates it is significantly overvalued. For more details, visit the GF Value™ page.

What Does TD's GF Score™ Tell Us? The GF Score™ ranks stocks from 0 to 100 based on five key aspects: Financial Strength, Profitability, Growth, Valuation, and Momentum. Stocks with higher GF Score™ values have been found to generate higher long-term returns (backtested 2006-2021).

Metric Rating GF Score™ 80/100 Financial Strength 3/10 Profitability 6/10 Growth 8/10 Valuation 5/10 Momentum 9/10 The predictability rank for TD is 3/5 stars, indicating that the DCF model is relatively reliable for this stock. For more information, visit the TD stock page.

Key Assumptions and Limitations It is crucial to recognize that DCF models are highly sensitive to the assumptions made regarding growth rates and discount rates. Stocks with low predictability ratings tend to produce less reliable DCF estimates. The terminal growth rate of 4% is a simplifying assumption that may not reflect future economic conditions.

What This Means for Investors In summary, the DCF earnings model suggests that TD is fairly valued at $79.11, while the FCF model indicates a significant overvaluation at $-48.05. The GF Value™ of $77.95 aligns closely with the earnings-based DCF, suggesting a consensus on valuation. Overall, the analysis points to TD being fairly valued. For the full DCF analysis, visit the TD DCF Calculator. You can also explore the GF Value™ page, or use the GuruFocus Stock Screener to find undervalued predictable companies.

Frequently Asked Questions What is TD's intrinsic value based on DCF?

earnings-based $85.73, FCF-based $-48.05

Is TD overvalued or undervalued?

Based on the DCF and GF Value™ consensus, TD is considered fairly valued.

How reliable is the DCF model for TD?

The predictability rank of 3/5 indicates a moderate level of reliability for the DCF model.

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Two-year investment will help young people transition from pediatric to adult health and support services May 04, 2026 06:00 ET  | Source: Holland Bloorview Kids Rehabilitation Hospital

TORONTO, May 04, 2026 (GLOBE NEWSWIRE) -- Holland Bloorview Kids Rehabilitation Hospital (Holland Bloorview) is strengthening support for young people with disabilities transitioning to adulthood, thanks to a two-year, $475,000 commitment from TD Bank Group (TD).

The transition to adulthood for young people with disabilities and developmental differences can be an extremely challenging time – one that has been described by some clients and their families as akin to “falling off a cliff.” Upon turning 18, most young people experience several transitions, including school, employment, benefits and funding status, as well as a whole new health-care system.  Suddenly, they are faced with serious gaps in supports and services, long waitlists and numerous financial, social and physical barriers to accessibility and inclusion.

“We are so grateful to TD for their commitment to help young people with disabilities across Ontario gain access to critical supports as they navigate this challenging period. Inclusion is a key pillar of our Together We Dare campaign. If we can scale and spread our programs, more kids can receive the care they need, where and when they need it,” said Sandra Hawken, president and CEO, Holland Bloorview Foundation. 

Holland Bloorview’s Bridging to Adulthood helps ensure young people with disabilities and developmental differences experience a more equitable and inclusive transition to adulthood. Transitions programs provide customized, wraparound supports for clients and their families before, during and after the move to adult services, building self-determination and resilience.

Funding from TD will help Holland Bloorview expand the number of community agencies it partners with in this vital work. This means increased transition supports to additional groups so that more young people can have a well-supported, equitable and inclusive bridge to adult services – including a renewed sense of belonging and independence.

"Turning 18 shouldn’t mean losing the supports young people rely on," said Steve Banquier, Managing Director & Head, Prime Brokerage, TD Securities. "TD is proud to support Holland Bloorview’s Bridging to Adulthood program, which helps youth with disabilities navigate a period of change and stay connected to the support they need as they move forward."

By embedding best practices, expanding equitable resources and building collaborative transitions, Holland Bloorview’s Bridging to Adulthood supports better long-term health and life outcomes, fuelling meaningful change for young people with disabilities while accelerating disability inclusion and working towards health equity. 

Learn more about Holland Bloorview’s Bridging to Adulthood transitions supports and services and how Together We Dare, the largest campaign for childhood disability in Canada, is helping build a healthier, more inclusive and equitable world for children with disabilities and developmental differences.

—30—

About Holland Bloorview Kids Rehabilitation Hospital

At Holland Bloorview we believe in creating a world where all youth and children belong. As Canada’s hospital for children with disabilities, we combine world-class care, transformational research and academic leadership in pediatric disability. Every year we help over 9,500 kids and youth with disabilities and complex medical needs access care that focuses on their physical, mental and emotional well-being, and we power their infinite potential and possibility. Together we dream big. Together we dare to shape the future of disability health care for kids. For more information or to donate, please visit www.TogetherWeDare.ca.

Contact Data Erin Pooley Holland Bloorview Kids Rehabilitation Hospital 647-406-3567 [email protected]

Toronto-Dominion Bank (TD - Free Report) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #2 (Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change.

The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.

The power of a changing earnings picture in determining near-term stock price movements makes the Zacks rating system highly useful for individual investors, since it can be difficult to make decisions based on rating upgrades by Wall Street analysts. These are mostly driven by subjective factors that are hard to see and measure in real time.

As such, the Zacks rating upgrade for Toronto-Dominion is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price.

Most Powerful Force Impacting Stock PricesThe change in a company's future earnings potential, as reflected in earnings estimate revisions, and the near-term price movement of its stock are proven to be strongly correlated. The influence of institutional investors has a partial contribution to this relationship, as these big professionals use earnings and earnings estimates to calculate the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their bulk investment action then leads to price movement for the stock.

For Toronto-Dominion, rising earnings estimates and the consequent rating upgrade fundamentally mean an improvement in the company's underlying business. And investors' appreciation of this improving business trend should push the stock higher.

Harnessing the Power of Earnings Estimate RevisionsEmpirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, so it could be truly rewarding if such revisions are tracked for making an investment decision. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.

The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>> .

Earnings Estimate Revisions for Toronto-DominionThis retail and wholesale bank is expected to earn $6.90 per share for the fiscal year ending October 2026, which represents no year-over-year change.

Analysts have been steadily raising their estimates for Toronto-Dominion. Over the past three months, the Zacks Consensus Estimate for the company has increased 7.5%.

Bottom LineUnlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of "buy" and "sell" ratings for its entire universe of more than 4,000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a "Strong Buy" rating and the next 15% get a "Buy" rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.

You can learn more about the Zacks Rank here >>>

The upgrade of Toronto-Dominion to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.

On May 11, 2026, we delve into the DCF analysis for The Toronto-Dominion Bank TD . The stock has shown impressive price performance, with a year-to-date increase of 16.0% and a remarkable 76.7% rise over the past year. Below are key highlights from our analysis:

DCF Earnings-based intrinsic value of $79.11 vs current price of $107.46 (margin of safety: -25.4%) DCF FCF-based intrinsic value of $-48.05 vs current price (second opinion: significantly overvalued) GF Score™ of 84/100, indicating a reliable assessment of the DCF inputs What Is TD Worth? DCF Earnings-Based Model The DCF earnings-based model for TD employs a two-stage approach to estimate intrinsic value. The first stage accounts for a growth phase lasting ten years, where we anticipate an EPS growth rate of 6.2%. The second stage represents a terminal phase with a more conservative growth rate of 4% over the subsequent ten years. The discount rate applied is 11%, derived from the risk-free rate and equity risk premium.

Parameter Value Current EPS (TTM, excl. non-recurring) $6.34 10-Year Growth Rate 6.2% 10-Year Treasury Rate 4.33% Discount Rate (ceil(Treasury) + 6%) 11% Terminal Growth Rate 4% The calculation summary for the two-stage model is as follows:

Stage Description Value Growth Stage (Years 1-10) EPS growing at 6.2%, discounted at 11% $50.13 Terminal Stage (Years 11-20) 4% terminal growth, discounted at 11% $28.98 Intrinsic Value Growth + Terminal $79.11 With the current price at $107.46 and the intrinsic value calculated at $79.11, TD appears to be fairly valued, reflecting a margin of safety of -25.4%. It is important to note that GuruFocus uses EPS excluding non-recurring items, as research indicates that stock prices correlate more closely with earnings than with free cash flow. For further calculations, you can visit the TD DCF Calculator.

What Does the Free Cash Flow DCF Say? In contrast, the free cash flow (FCF) based intrinsic value for TD is calculated at $-48.05. This starkly contrasts with the earnings-based model, indicating a significant discrepancy between the two valuation methods. The FCF-based model suggests that TD is significantly overvalued, with a margin of safety of -100.0%.

How Does GF Value™ Compare to the DCF Models? The GF Value™ for TD stands at $77.95, providing a third perspective on the valuation. GF Value™ is GuruFocus' proprietary measure, calculated based on historical trading multiples, past business growth, and future performance estimates. When comparing the three models, the earnings-based DCF and GF Value™ suggest that TD is fairly valued, while the FCF model indicates significant overvaluation.

For more insights, visit the GF Value™ page.

What Does TD's GF Score™ Tell Us? The GF Score™ ranks stocks from 0 to 100 based on five key aspects: Financial Strength, Profitability, Growth, Valuation, and Momentum. Stocks with higher GF Score™ values have been found to generate higher long-term returns (backtested from 2006-2021).

Metric Rating GF Score™ 84/100 Financial Strength 3/10 Profitability 7/10 Growth 9/10 Valuation 5/10 Momentum 9/10 The predictability rank for TD is 3/5 stars, indicating that the DCF model is relatively reliable for this stock. For additional details, visit the TD stock page.

Key Assumptions and Limitations It is crucial to understand that DCF models are highly sensitive to the assumptions made regarding growth rates and discount rates. Stocks with low predictability ratings tend to produce less reliable DCF estimates. The terminal growth rate of 4% is a simplifying assumption that may not capture the full complexity of future growth.

What This Means for Investors In summary, the three valuation models present a mixed picture for The Toronto-Dominion Bank. The DCF earnings-based model suggests fair valuation, while the FCF model indicates significant overvaluation. The GF Value™ also aligns closely with the earnings-based DCF, suggesting a fair value perspective. Overall, TD appears to be fairly valued based on the earnings-based DCF and GF Value™, while the FCF model raises concerns about overvaluation. For the full DCF analysis, visit the TD DCF Calculator. You can also explore the GF Value™ page, or use the GuruFocus Stock Screener to find undervalued predictable companies.

Frequently Asked Questions What is TD's intrinsic value based on DCF?

Answer: earnings-based $85.73, FCF-based $-48.05

Is TD overvalued or undervalued?

Answer: The earnings-based DCF suggests fair valuation, while the FCF model indicates significant overvaluation.

How reliable is the DCF model for TD?

Answer: The predictability rank is 3/5, indicating moderate reliability for the DCF model.

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].

New analysis from the IMPACT-TD Registry confirms tardive dyskinesia (TD) causes a significant burden for most individuals with concomitant mood disorders, impacting their lives regardless of ageThe data shows that 85% of young adults with mood disorders living with TD movements, ages 18-29 (n=13), experience moderate to severe TD impact, yet only 23% received a formal diagnosis of TD, revealing a gap in disease identificationTeva is dedicated to advancing research and initiatives that deepen clinical understanding, identify diagnostic gaps and improve outcomes for patients with TD PARSIPPANY, N.J. and TEL AVIV, Israel, May 18, 2026 (GLOBE NEWSWIRE) -- Teva Pharmaceuticals, a U.S. affiliate of Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA), today announced new data from the ongoing, real-world IMPACT-TD Registry, highlighting a significant gap in diagnosing tardive dyskinesia (TD) in patients with underlying mood disorders. While the findings demonstrate that most patients across all age groups experience multidimensional impact from the condition, young adults (aged 18-29, n=13) had the lowest rate of formal diagnosis (23%) despite having one of the highest rates of personal impact (85%). The data were presented at the 2026 American Psychiatric Association Annual Meeting, taking place May 16 – 20, 2026 in San Francisco, California.

“The latest data from the IMPACT-TD Registry underscores the profound, multidimensional impact of tardive dyskinesia on individuals, extending far beyond any single demographic. Despite its widespread impact, we are still confronted with meaningful diagnostic gaps, leaving many patients undiagnosed and untreated,” said Verena Ramirez Campos, MD-MBA, Vice President U.S. Medical Affairs and Global Innovative Strategy at Teva. “We are committed to grasping the complete human experience of TD, and working to help close those gaps and bring forth innovations that make a meaningful difference in the day-to-day lives of people living with TD.”

The IMPACT-TD Registry, the largest TD study to date, is a 3-year, prospective, non-interventional, Phase 4 study examining how TD progresses over time and the impact it has on patients’ lives.1-3 The study, which includes a broad representation of people affected by TD (age, sex, race/ethnicity, underlying conditions, movement severity and treatment status), evaluates 611 participants aged ≥18 years who, at enrollment, had either a score of ≥2 on at least one item of the Abnormal Involuntary Movement Scale (AIMS) and probable TD, or were receiving vesicular monoamine transporter 2 (VMAT2) inhibitor therapy for TD. The present analysis of the IMPACT-TD Registry evaluated 211 adults with TD who were not receiving VMAT2 inhibitor therapy at enrollment and had concomitant mood disorders, such as bipolar disorder (60%) or depression (54%), reflecting a diverse, real-world patient population. Multidimensional impact of TD was measured using the clinician-reported IMPACT-TD scale, while TD severity was assessed by AIMS.

The IMPACT-TD findings revealed:

A majority of participants, regardless of age, reported a moderate to severe global impact from TD. This burden was particularly high for those aged 18-29 (85%) and 50-59 (87%, n=57), demonstrating that TD significantly affects daily life across the adult lifespan.The psychological impact of TD was most pronounced in adults aged <60. Over three-quarters (77%) of those aged 18-29 experienced moderate to severe psychological effects despite lower AIMS scores (6.4) on average compared to older adults aged 60-69 (8.4, n=56) and >69 (9.9, n=28).Despite the high impact, formal TD diagnosis rates were lowest among adults <40 years old. The rate was 23% for participants aged 18-29 and 35% for participants aged 30-39 (n=20), well below the peak of 57% seen in adults aged 40-49 (n=37) and 47% average in the 50+ age subgroups.A significant delay in diagnosis was also identified, with patients waiting an average of more than 3.5 years to be formally diagnosed after their involuntary movements were first recognized. “Beyond the visible symptoms, tardive dyskinesia impacts every aspect of daily living, from personal independence to social interaction and emotional wellbeing,” said Richard Jackson, MD, an Assistant Clinical Adjunct Professor in the University of Michigan School of Medicine’s Department of Psychiatry and IMPACT-TD principal investigator. “What remains a critical unknown is how this debilitating condition uniquely impacts those already struggling with mood disorders, especially at different ages. The IMPACT-TD study is designed to bridge this crucial knowledge gap, giving us the insights we urgently need to offer targeted, meaningful support to every TD patient, no matter their background.”

Teva is committed to assisting in addressing these significant diagnostic gaps, which could improve the lives of those living with tardive dyskinesia.

About Tardive Dyskinesia (TD)
Tardive dyskinesia (TD) is a highly debilitating, chronic movement disorder that affects one in four people who take certain mental health treatments and is characterized by uncontrollable, abnormal, and repetitive movements of the face, torso, and/or other body parts, which may be disruptive and negatively impact individuals.4-6

About Teva
Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) is transforming into a leading innovative biopharmaceutical company, enabled by a world-class generics business. For over 120 years, Teva’s commitment to bettering health has never wavered. From innovating in the fields of neuroscience and immunology to providing complex generic medicines, biosimilars and pharmacy brands worldwide, Teva is dedicated to addressing patients’ needs, now and in the future. At Teva, We Are All In For Better Health. To learn more about how, visit www.tevapharm.com.

Teva Cautionary Note Regarding Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are based on management’s current beliefs and expectations and are subject to substantial risks and uncertainties, both known and unknown, that could cause our future results, performance or achievements to differ significantly from that expressed or implied by such forward-looking statements. You can identify these forward-looking statements by the use of words such as “should,” “expect,” “anticipate,” “estimate,” “target,” “may,” “project,” “intend,” “plan,” “believe” and other words and terms of similar meaning and expression in connection with any discussion of future operating or financial performance. Important factors that could cause or contribute to such differences include risks relating to: our ability to successfully continue to develop and commercialize products for the treatment of tardive dyskinesia and for the treatment of chorea associated with Huntington’s disease, and to improve the lives of those living with tardive dyskinesia; our ability to successfully compete in the marketplace, including our ability to develop and commercialize additional pharmaceutical products; our ability to successfully execute our Pivot to Growth strategy, including to expand our innovative and biosimilar medicines pipeline and profitably commercialize the innovative medicines and biosimilar portfolio, whether organically or through business development; and other factors discussed in our Quarterly Report on Form 10-Q for the first quarter of 2026 and in our Annual Report on Form 10-K for the year ended December 31, 2025, including in the section captioned “Risk Factors.” Forward-looking statements speak only as of the date on which they are made, and we assume no obligation to update or revise any forward-looking statements or other information contained herein, whether as a result of new information, future events or otherwise. You are cautioned not to put undue reliance on these forward-looking statements.

References:

Finkbeiner S, Konings M, Henegar M, et al. Multidimensional impact of tardive dyskinesia: interim analysis of clinician-reported measures in the IMPACT-TD registry. Poster presented at: Annual Psych Congress Elevate; May 30-June 2, 2024; Las Vegas, NV.Data on file. Parsippany, NJ: Teva Neuroscience, Inc.American Psychiatric Association. Practice Guideline for the Treatment of Patients With Schizophrenia. 3rd ed. American Psychiatric Association; 2021.Warikoo N, Schwartz T, Citrome L. Tardive dyskinesia. In: Schwartz TL, Megna J, Topel ME, eds. Antipsychotic Drugs. Hauppauge, NY: Nova Science Publishers. 2013:235-258.Waln O, Jankovic J. An Update on Tardive Dyskinesia: From Phenomenology to Treatment. Tremor Other Hyperkinet Mov. 2013;3:1-11.Tardive dyskinesia. National Alliance on Mental Illness website. https://www.nami.org/Learn-More/Treatment/Mental-Health-Medications/Tardive-Dyskinesia. Accessed May 4, 2023.

Canada's largest banks head into fiscal Q2 2026 earnings facing a more complex macro backdrop than they did just three months ago. Visible Alpha consensus expectations show Canada's major banks are still poised to deliver resilient fiscal Q2 2026 results for the April quarter. Consensus expectations point to healthy year-over-year growth in revenue and earnings across most banks, although profitability metrics such as ROE and NIM are expected to soften sequentially.

Getting big returns from financial portfolios, whether through stocks, bonds, ETFs, other securities, or a combination of all, is an investor's dream. But for income investors, generating consistent cash flow from each of your liquid investments is your primary focus.

Cash flow can come from bond interest, interest from other types of investments, and, of course, dividends. A dividend is that coveted distribution of a company's earnings paid out to shareholders, and investors often view it by its dividend yield, a metric that measures the dividend as a percent of the current stock price. Many academic studies show that dividends account for significant portions of long-term returns, with dividend contributions exceeding one-third of total returns in many cases.

Headquartered in Toronto, Toronto-Dominion Bank (TD - Free Report) is a Finance stock that has seen a price change of 18.76% so far this year. The retail and wholesale bank is currently shelling out a dividend of $0.78 per share, with a dividend yield of 2.78%. This compares to the Banks - Foreign industry's yield of 2.78% and the S&P 500's yield of 1.42%.

Looking at dividend growth, the company's current annualized dividend of $3.11 is up 4.2% from last year. Over the last 5 years, Toronto-Dominion Bank has increased its dividend 3 times on a year-over-year basis for an average annual increase of 5.24%. Looking ahead, future dividend growth will be dependent on earnings growth and payout ratio, which is the proportion of a company's annual earnings per share that it pays out as a dividend. Toronto-Dominion's current payout ratio is 47%, meaning it paid out 47% of its trailing 12-month EPS as dividend.

Earnings growth looks solid for TD for this fiscal year. The Zacks Consensus Estimate for 2026 is $6.89 per share, which represents a year-over-year growth rate of 15.22%.

From greatly improving stock investing profits and reducing overall portfolio risk to providing tax advantages, investors like dividends for a variety of different reasons. However, not all companies offer a quarterly payout.

Big, established firms that have more secure profits are often seen as the best dividend options, but it's fairly uncommon to see high-growth businesses or tech start-ups offer their stockholders a dividend. During periods of rising interest rates, income investors must be mindful that high-yielding stocks tend to struggle. With that in mind, TD is a compelling investment opportunity. Not only is it a strong dividend play, but the stock currently sits at a Zacks Rank of #3 (Hold).

Toronto-Dominion Bank is lifting its dividend payout, joining other big Canadian banks in returning cash to investors following a strong underlying performance in the latest quarter.

 | 

Highlights

TD said agentic AI reduced mortgage pre-adjudication times from 15 hours to three minutes.

U.S. proprietary credit card balances rose 18% year over year on strong customer acquisition.

Management said AI is beginning to reshape frontline productivity, fraud operations and credit processes.

TD Bank’s latest earnings call suggested the industry is moving into a more operational phase in its use of artificial intelligence, where AI is increasingly tied to loan approvals, fraud management and the economics of customer acquisition.

CEO Raymond Chun said on the Thursday (May 28) that “I believe AI will transform our operations, make our colleagues more efficient, our processes faster and our products and services better.”

The comments came as TD highlighted a growing list of AI deployments across the organization, including agentic AI tools that reduced mortgage pre-adjudication cycle times from roughly 15 hours to three minutes. The bank also said it has more than 40,000 employees using Copilot tools internally and more than 7,000 engineers using AI in software development workflows.

Growth in Card Balances Cards continued to emerge as a key growth engine for the bank on both sides of the border.

In the United States, TD said proprietary credit card balances rose 18% year over year, driven by customer acquisition. CFO Kelvin Tran said new bank card account acquisition increased 32% from a year ago, while the integration of Nordstrom card clients onto TD’s servicing platform marked “an important strategic milestone” for scaling the franchise.

Tran told analysts the Nordstrom conversion could help TD pursue additional strategic card partnerships while lowering long-term servicing costs.

Advertisement: Scroll to Continue

The broader consumer banking franchise also showed signs of resilience despite ongoing macroeconomic uncertainty. Canadian personal and commercial banking delivered record quarterly revenue, pre-tax pre-provision profit and earnings, supported by higher loan and deposit volumes. Average deposits rose 3% year over year, while average loan volumes increased 6%.

In U.S. banking, deposits excluding sweeps and targeted runoff businesses rose 1% year over year, while middle-market lending balances increased 13%. TD also pointed to continued momentum in home equity lending and business banking.

The earnings release showed the bank continuing to balance growth investments as adjusted revenue rose 6% to $16.6 billion. The bank said it remains on track to exceed its previously stated 6% to 8% earnings per share growth target for fiscal 2026 if macroeconomic conditions remain stable.

Management also continued to emphasize the long-term importance of structural cost reductions and automation. TD said it is targeting $2 billion to $2.5 billion in annualized structural cost savings over the medium term, with AI expected to contribute more than $500 million in annualized savings and a similar amount in revenue uplift.  Shares were down about 0.5% in early trading Thursday.

Analysts engaged management during the Q&A on whether AI could ultimately improve the bank’s profitability profile beyond historical levels.

Chun said the bank is already “tracking well ahead of pace” on its AI targets and sees opportunities across “credit, contact centers, fraud, and frontline productivity.” He added that TD is increasingly focused on AI deployments that “transform end-to-end experiences, drive lower unit costs, and are scalable across the enterprise.”

Looking ahead, management maintained its guidance for fiscal 2026 and said the bank expects continued momentum across core businesses, including cards and commercial lending, even as it continues to invest heavily in AML remediation and governance systems.

Dividend increases include a boost of 6.67% from Dividend Champion Donaldson and a raise of 4.17% from Dividend King Lowe's. Canadian banks BMO, RY, and TD announced modest dividend hikes but are overvalued, with compressed yields near 3%. CSWC declared a special dividend, but its payout ratio above 100% and low quality and safety scores signal caution.