OSAKA, Japan, Nov. 11, 2026 (GLOBE NEWSWIRE) — TryHard Holdings Limited (“TryHard” or the “Company”) (Nasdaq: THH), a lifestyle entertainment platform in Japan, today announced that its wholly owned subsidiary, TryHard Japan Co., Ltd. (“TryHard Japan”), successfully operated a drone light show reportedly the largest in Japan, featuring 4,050 drones at the 2026 Saga International Balloon Fiesta on November 3, 2026, along the banks of the Kase River in Saga City, Japan.

According to the event organizer, the performance attracted approximately 50,000 spectators, and featured synchronized drone formations accompanied by a live violin performance. The drone show was operated by TryHard Japan, with planning and production undertaken by SBI MUSIC CIRCUS Co., Ltd.

Bringing Drone Entertainment to Asia’s Largest Hot Air Balloon Competition

The Saga International Balloon Fiesta, which began in 1980, is Asia’s largest hot air balloon competition. The five-day festival, running from October 30 to November 3, drew approximately 852,000 visitors in total, including 240,000 on November 3 alone, when the drone show took place, demonstrating the scale of the event and its significance as a major regional attraction.

The 4,050-drone performance transformed the evening sky into a canvas of light, depicting Saga’s history, streetscapes and familiar local scenery. Accompanied by live violin music, the show created a distinctive transition from the festival’s daytime hot air balloon activities to a technology-driven nighttime entertainment experience.

A synchronized drone formation illuminates the night sky during the 2026 Saga Balloon Fiesta, where TryHard Japan operated a 4,050-drone performance

Caption: A synchronized drone formation illuminates the night sky during the 2026 Saga International Balloon Fiesta, where TryHard Japan operated a 4,050-drone performance.

Building on a Growing Track Record in Drone Entertainment

TryHard Japan has incorporated drone performances into its entertainment productions since 2022, beginning with a 500-drone show at the Osaka Senshu Summer Festival. It has since expanded its experience in combining drone technology with fireworks, music and other live entertainment elements.

In August 2026, the Company participated in the 10th anniversary SBI Fireworks Festival in Osaka-Sennan, which featured a record-setting 4,000-drone performance. The Saga show further demonstrated TryHard Japan’s capabilities in operating large-scale drone entertainment across different event settings.

Expanding Drone Entertainment Opportunities

Building on its event production and operational experience, TryHard Japan is developing drone entertainment as a standalone business, exploring opportunities across regional tourism, corporate promotions and personalized celebrations.

Under the concept of “Connecting Hearts with Light,” the Company aims to combine drone technology with creative entertainment to engage audiences and support regional revitalization while participating in Japan’s emerging low-altitude economy.

Rakuyo Otsuki, Chief Executive Officer of TryHard Holdings, commented: “The successful 4,050-drone performance at the Saga International Balloon Fiesta demonstrates how technology can bring new dimensions to established cultural events. Building on our experience in large-scale entertainment production, we see exciting opportunities to develop drone-based experiences that connect audiences with local communities and support regional revitalization across Japan.”

About TryHard Holdings Limited

TryHard Holdings Limited (Nasdaq: THH) is a lifestyle entertainment platform in Japan with investments across nightlife, music, culture, and live events.

Through its wholly owned subsidiary, TryHard Japan Co., Ltd., the Company plans, produces and operates large-scale music festivals, live entertainment events and cultural programs across Japan. The Company continues to expand its entertainment platform through differentiated content, strategic collaborations and technology-driven audience experiences.

For more information, please visit the Company’s website: https://www.tryhardthh.com/.

IR Contact:
HBK Strategy Limited
ir@hbkstrategy.com
+852 2156 0223

Disclaimer

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident,” “potential,” “continue,” or other similar expressions. Among other things, business outlook in this press release, as well as TryHard’s strategic and operational plans and expectations regarding its business expansion and venue operations, contain forward-looking statements. TryHard may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its interim and annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about TryHard’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: TryHard’s goals and strategies; TryHard’s future business development, financial conditions, and results of operations; the expected outlook of the lifestyle entertainment business in Japan; TryHard’s expectations regarding demand for and market acceptance of its products and services; TryHard’s expectations regarding its relationships with its customers and other stakeholders; competition in TryHard’s industry; TryHard’s proposed use of proceeds; and relevant government policies and regulations relating to TryHard’s industry, and general economic and business conditions in Japan and assumptions underlying or related to any of the foregoing. All information provided in this announcement and in the attachments is as of the date of the announcement, and the Company undertakes no duty to update such information, except as required under applicable law.

Investors are advised to refer to the Company’s filings made with the U.S. Securities and Exchange Commission when making investment decisions, which are available for review at www.sec.gov.

This release does not constitute an offer to sell or solicit an offer to buy any securities, nor does it represent a public offering under Financial Instruments and Exchange Act of Japan.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/81674c72-e45d-405b-ad3b-7834252c0a11

SINGAPORE and HOUSTON, Nov. 11, 2026 (GLOBE NEWSWIRE) — GOWell Energy Technology (NASDAQ: GOW) (“GOWell” or the “Company”), a global one-stop-shop for innovative well logging solutions in the energy sector, today announced that its Singapore operating subsidiary, GOWell Technology Singapore Pte. Ltd, has completed the acquisition of Well-Sense Holdings Ltd (together with its subsidiaries, “WellSense”), a leading provider of distributed fiber optic sensing and well integrity diagnostic technologies based in Aberdeen, Scotland.

The acquisition brings together WellSense’s proprietary fiber optic sensing technologies, technical expertise and established customer relationships with GOWell’s global footprint and customer network. The combined organization will be positioned to provide a wide range of advanced well-integrity solutions across international energy markets.

WellSense has developed a strong reputation for delivering innovative fiber optic sensing solutions and diagnostic services to customers across the energy sector. Its FiberLine Intervention (Fli) technology has been deployed globally across a range of applications spanning well integrity, production optimization and subsurface diagnostics.

Financial terms of the transaction were not disclosed. The acquisition was funded from GOWell’s existing cash.

Strategic Rationale

This acquisition extends GOWell’s well integrity portfolio from point measurements to continuous distributed fiber optic sensing (DFOS). It brings fiber diagnostics and GOWell’s well integrity measurements together, locating and characterizing problems more precisely and efficiently. WellSense’s drop-in deployment model fits GOWell’s approach of delivering technology through GOWell’s service company partners.

The integration will be guided by a commitment to customer continuity, operational excellence and long-term growth.

Guillaume Borrel, Chief Executive Officer of GOWell, said:

“WellSense is our first acquisition as a public company. Its field-proven fiber sensing technology is now backed by GOWell’s global manufacturing platform and technical support. Fiber sensing locates problems along the well; our logging technologies identify and characterize them precisely. Together, we offer a more complete and efficient integrity picture.”

Annabel Green, Chief Executive Officer of WellSense, said:

“Joining GOWell represents an exciting opportunity for our employees, customers and partners. GOWell’s global infrastructure and customer relationships provide a strong platform to grow our business and broaden access to our technologies, while maintaining the expertise, innovation and customer focus that define WellSense. We look forward to our next chapter as part of GOWell.”

About GOWell Energy Technology

GOWell Energy Technology is an international company that provides a wide range of innovative well-logging technologies and distributed sensing solutions for energy companies globally. The Company maintains a multi-disciplinary research and development team with a robust patent portfolio of technology aimed at solving complex industry challenges. GOWell’s solutions can be applied to a wide range of wells from traditional energy to energy transition. The Company has a global, diverse customer base with long-term relationships with the key major oil service companies and operators in the energy sector. Headquartered in Singapore, GOWell has a global manufacturing and procurement network, with principal offices in the United States and UAE in addition to regional hubs and operations that cover more than 50 countries.

For more information about GOWell Energy Technology, visit: https://www.gowell.energy/.

About WellSense

WellSense, formerly part of the FrontRow Energy Technology Group, founded in 2015 and headquartered in Aberdeen, Scotland, is a technology company specializing in distributed fiber optic sensing, well integrity diagnostics and subsurface monitoring solutions. WellSense’s proprietary FiberLine Intervention (Fli) technology has been deployed globally across a wide range of well applications.

Forward Looking Statements

This press release includes or may include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, the acquisition of WellSense, the anticipated benefits of the acquisition, and the plans, strategies and prospects, both business and financial, of GOWell and its subsidiaries. These statements are based on the beliefs and assumptions of the management of GOWell. Although GOWell believes that its plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, GOWell cannot assure that it will achieve or realize these plans, intentions or expectations. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Generally, statements that are not historical facts, including statements concerning possible or assumed future actions, business strategies, events or results of operations, and any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. These statements may be preceded by, followed by or include the words “believes,” “estimates,” “expects,” “predicts,” “projects,” “forecasts,” “may,” “might,” “will,” “could,” “should,” “would,” “seeks,” “plans,” “scheduled,” “possible,” “continue,” “potential,” “anticipates” or “intends” or similar expressions; provided that the absence of these does not mean that a statement is not forward-looking. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release might not occur, and GOWell’s actual results could differ materially from those anticipated in these forward-looking statements.

Important factors that could cause actual results to differ materially from those discussed in the forward-looking statements include: general economic, political and business conditions; the ability of GOWell to integrate WellSense’s business and technologies, and to realize the anticipated benefits of the acquisition; the ability of GOWell to retain key WellSense personnel, customers and partners; the amount and timing of any deferred consideration payable in connection with the acquisition; GOWell’s market capitalization and financial performance after the acquisition; the ability of GOWell to execute its growth strategy, manage growth profitably and retain its key customers and employees; the competitiveness of GOWell’s products and services; changes in applicable laws or regulations; the ability of GOWell to maintain the listing of its securities on the Nasdaq Stock Market; the outcome of any legal proceedings that may be instituted against GOWell or its subsidiaries; and other risks and uncertainties indicated in GOWell’s filings with the Securities and Exchange Commission. Undue reliance should not be placed upon the forward-looking statements.

These forward-looking statements are made only as of the date of this press release. GOWell does not undertake any obligation to publicly update or revise any forward-looking statement contained in this press release, whether as a result of new information, future events or otherwise, except as required by law.

Contact:

Investor Relations Contact:

Gateway Group
Georg Venturatos, Patrick Hall
949-574-3860
GOWell@gateway-grp.com

Media Relations Contact:

Gateway Group
Zach Kadletz, Ryan Deloney
949-574-3860
GOWell@gateway-grp.com

Partnership gives Symphonic’s artists and labels preferred access to Discovr Radio, connecting music distribution directly with guaranteed exposure to radio listeners

BOULDER, Colo., Nov. 11, 2026 (GLOBE NEWSWIRE) — Auddia Inc. (NASDAQ: AUUD) (“Auddia” or the “Company”), an AI-first technology company that has built a proprietary AI platform for audio identification and classification to reinvent how consumers engage with audio and how artists get discovered, today announced an affiliate partnership between its Discovr Radio platform and Symphonic, a leading music technology and services company for independent labels, managers, and artists. The partnership is Discovr Radio’s first with a music distributor.

Through the partnership, Symphonic will offer its artists and label customers preferred pricing on a Discovr Radio subscription through a dedicated portal, giving independent artists a simple way to put their new releases in front of radio listeners on Auddia’s faidr app.

Connecting Distribution with Discovery

Distributors put artists’ music on streaming platforms; getting that music heard is the harder problem. Discovr Radio addresses it by delivering artists guaranteed exposure to radio listeners, placing their tracks directly into the faidr listening experience alongside familiar commercial radio programming. Partnering with a distributor puts Discovr Radio in front of artists at the moment they are planning and releasing new music.

“Distribution gets an artist’s music out into the world, and Discovr Radio gets it in front of listeners,” said Theo Romeo, Chief Product and Marketing Officer of Auddia. “Symphonic has built one of the most respected platforms for independent artists and labels, and as our first distribution partner, they give us a natural way to reach artists right when they release new music. We see distributors as an important channel for Discovr Radio as we grow.”

“Nothing is more important to us than making sure our artists and labels get their music in front of fans new and old,” said Jorge Brea, Founder and CEO of Symphonic. “Auddia and Discovr Radio are doing great work ensuring that artists’ songs are actually heard in the proper context, and we’re happy to give our roster the opportunity to opt in at a discount.”

Symphonic artists and labels can access the Discovr Radio offer through the SymphonicMS partner portal at symphonic.com. For more information, visit www.auddia.com.

About Auddia Inc.

Auddia, through its proprietary AI platform for audio identification and classification, is reinventing not only how consumers engage with AM/FM radio, podcasts, and other audio content but also how artists and labels promote their music and gain access to mainstream radio audiences. Auddia’s Discovr Radio is the first music-promotion platform to deliver artists guaranteed exposure to radio listeners. Auddia’s flagship audio superapp, called faidr, delivers multiple industry firsts, including:

  • Ad-free listening on any AM/FM radio station
  • Content skipping across any AM/FM station
  • One-touch skipping of entire podcast ad breaks
  • Integrated artist discovery experiences

For more information, visit www.auddia.com.

About Symphonic

Symphonic is a leading music technology and services company, offering a proprietary content management and distribution platform, global royalty collection and split payments, and robust label services and financial resources to independent labels, managers, and artists. Founded in 2006 by music producer Jorge Brea, Symphonic is 100% independent and proud to be “by artists, for artists.”

Headquartered in Tampa, FL, Symphonic has a significant presence in key U.S. markets – including Nashville, Los Angeles, New York, and Miami – as well as internationally in Canada, Mexico, Colombia, Brazil, Puerto Rico, the Dominican Republic, Europe, the UK, Asia-Pacific, and Africa.

Symphonic’s current roster and alumni include Bad Bunny, Daddy Yankee, Marshmello, Doechii, Gunna, Juan Luis Guerra, El Alfa, Ozuna, Sean Paul, Imogen Heap, Jon Batiste, Ani DiFranco, Sublime, OK Go, Sixpence None the Richer, New Radicals, Stick Figure, GRiZ, CloZee, Freddie Gibbs, Method Man, Tim McGraw, Ryuichi Sakamoto, Surf Mesa, and Tokischa – among many others.

For more information, visit symphonic.com.

About the Merger to form McCarthy Finney

Auddia entered into a definitive merger agreement on February 17, 2026. The merger contemplates a business combination between Auddia Inc. and Thramann Holdings, LLC, a single member Colorado LLC. Thramann Holdings fully owns LT350, Influence Healthcare, and Voyex, three early-stage AI native operating companies. Upon merger completion, Auddia will change its name to McCarthy Finney and trade under the ticker MCFN. McCarthy Finney is an AI holding company that will deliver AI and Web3 services to its four portfolio companies: LT350, Influence Healthcare, Voyex, and Auddia.

  • LT350 is a distributed AI data center company with 13 issued, 1 allowed, and 2 pending patents on a proprietary solar parking lot canopy infrastructure platform that integrates modular battery storage and GPU cartridges into the ceiling of the canopy to turn any parking lot into an AI data center. The Company aims to build the most secure, lowest latency, cost effective, and rapidly deployed network of distributed AI data centers at the edge by leveraging the use of underutilized parking lot space while strengthening the existing power infrastructure of local utilities.
  • Influence Healthcare is a health-tech company leveraging AI, blockchain, and vertical integration to empower surgeons to drive adoption of value based care (VBC) to the surgical specialties. The Company’s mission is to leverage technology and value based enterprises (VBEs) to build an alternative healthcare system that minimizes the corporate practice of medicine, eliminates administrative waste, and enhances the autonomy and pay of health care providers to empower them to improve quality and return the patient physician relationship to the center of medicine.
  • Voyex is a travel services platform that leverages agentic AI, an integrated fintech platform, and utilization of charter and private jet aircraft to significantly improve the travel experience. The Company aims is to alleviate the leading pain points for travelers of lengthy flight delays and cancellations.

Cautionary Note on Forward-Looking Statements

Certain statements in this communication, other than purely historical information, may constitute “forward-looking statements” within the meaning of the federal securities laws, including for purposes of the “safe harbor” provisions under the Private Securities Litigation Reform Act of 1995, concerning Auddia, Thramann Holdings, and the proposed merger between Auddia and Thramann Holdings (the “Proposed Transaction”) and other matters. These forward-looking statements include, but are not limited to, express or implied statements relating to Auddia’s and Thramann Holdings’ management expectations, hopes, beliefs, intentions or strategies regarding the future including, without limitation, statements regarding: the structure, timing and completion of the proposed merger by and between Auddia and Thramann Holdings, and the expected effects, perceived benefits or opportunities of the Proposed Transaction; the combined company’s listing on Nasdaq after the closing of the Proposed Transaction; expectations regarding the structure, timing and completion of the financing needed to close the Proposed Transaction, including investment amounts from investors, timing of closing of the Proposed Transaction, expected proceed, expectations regarding the use of proceeds, and impact on ownership structure; the anticipated timing of the closing; the expected executive officers and directors of the combined company; each company’s and the combined company’s expected cash position at the closing and cash runway of the combined company following the proposed merger and any additional financing; the future operations of the combined company, including research and development activities; the nature, strategy and focus of the combined company; the development and commercial potential and potential benefits of any products and services of the combined company; the cash balance of the combined entity at closing; expectations related to the anticipated timing of the closing of the Proposed Transaction (the “Closing”); the expectations regarding the ownership structure of the combined company; the expected trading of the combined company’s stock on Nasdaq under the ticker symbol “MCFN” after the Closing; and other statements that are not historical fact.

All statements other than statements of historical fact contained in this communication are forward-looking statements. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “opportunity,” “potential,” “milestones,” “pipeline,” “can,” “goal,” “strategy,” “target,” “anticipate,” “achieve,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “plan,” “possible,” “project,” “should,” “will,” “would” and similar expressions (including the negatives of these terms or variations of them) may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements are made based on current expectations, estimates, forecasts, and projections, as well as the beliefs and assumptions of management, concerning future developments and their potential effects. There can be no assurance that future developments affecting Auddia, Thramann Holdings, or the Proposed Transaction will be those that have been anticipated.

These forward-looking statements involve a number of risks and uncertainties, some of which are beyond Auddia’s or Thramann Holdings’ control, or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, the risk that the conditions to the Closing or consummation of the Proposed Transaction are not satisfied, including the failure to timely obtain approval of the proposed merger from Auddia’s stockholders the risk that the required financing is not obtained in a timely manner, if at all; uncertainties as to the timing of the consummation of the Proposed Transaction; risks related to Auddia’s continued listing on Nasdaq until closing of the Proposed Transaction and the combined company’s ability to remain listed following the Closing; uncertainties regarding the impact any delay in the Closing would have on the anticipated cash resources of the combined company, and other events and unanticipated spending and costs that could reduce the combined company’s cash resources; the occurrence of any event, change or other circumstance or condition that could give rise to the termination of the merger agreement; the effect of the announcement or pendency of the merger on Auddia’s or Thramann Holdings’ business relationships, operating results and business generally; costs related to the merger; the risk that as a result of adjustments to the exchange ratio, Auddia’s or Thramann Holdings’ stockholders could own more or less of the combined company than is currently anticipated; risks related to the market price of Auddia’s common stock relative to the value suggested by the exchange ratio; risks related to the inability of the combined company to obtain sufficient additional capital to continue to advance the development of its products and services; costs of the Proposed Transaction and unexpected costs, charges or expenses resulting from the Proposed Transaction; potential adverse reactions or changes to business relationships, operating results, and business generally, resulting from the announcement or completion of the Proposed Transaction;

Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties. These and other risks and uncertainties are more fully described in periodic filings with the SEC, including the factors described in the section titled “Risk Factors” in Auddia’s Annual Report on Form 10-K for the year ended December 31, 2025, which was originally filed with the SEC on March 6, 2026, subsequent Quarterly Reports on Form 10-Q filed with the SEC, and in other filings that Auddia makes and will make with the SEC in connection with the Proposed Transaction, including the Form S-4 and Proxy Statement described below, as well as discussions of potential risks, uncertainties, and other important factors included in other filings by Auddia from time to time. Should one or more of these risks or uncertainties materialize, or should any of Auddia’s or Thramann Holdings’ assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Nothing in this communication should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements in this communication, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein. Neither Auddia nor Thramann Holdings undertakes or accepts any duty to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in its expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based, except as required by law. This communication does not purport to summarize all of the conditions, risks and other attributes of an investment in Auddia or Thramann Holdings.

No Offer or Solicitation

This communication and the information contained herein is not intended to and does not constitute (i) a solicitation of a proxy, consent or approval with respect to any securities or in respect of the proposed transaction or (ii) an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities pursuant to the proposed transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, and otherwise in accordance with applicable law, or an exemption therefrom. Subject to certain exceptions to be approved by the relevant regulators or certain facts to be ascertained, the public offer will not be made directly or indirectly, in or into any jurisdiction where to do so would constitute a violation of the laws of such jurisdiction, or by use of the mails or by any means or instrumentality (including without limitation, facsimile transmission, telephone and the internet) of interstate or foreign commerce, or any facility of a national securities exchange, of any such jurisdiction.

NEITHER THE SEC NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THE SECURITIES OR DETERMINED IF THIS COMMUNICATION IS TRUTHFUL OR COMPLETE.

Important Additional Information about the Proposed Transaction Will be Filed with the SEC

This communication relates to the proposed merger involving Auddia and Thramann Holdings and may be deemed to be solicitation material in respect of the proposed merger. In connection with the proposed Transaction, McCarthy Finney intends to file relevant materials with the SEC, including a registration statement on Form S-4 (the “Form S-4”) that will contain a proxy statement (the “Proxy Statement”) and prospectus. This communication is not a substitute for the Form S-4, the Proxy Statement or for any other document that Auddia may file with the SEC and/or send to Auddia’s stockholders in connection with the proposed merger. AUDDIA URGES, BEFORE MAKING ANY VOTING DECISION, INVESTORS AND STOCKHOLDERS TO READ THE FORM S-4, THE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS THAT MAY BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT AUDDIA, THRAMANN HOLDINGS, THE PROPOSED TRANSACTION AND RELATED MATTERS.

Investors and stockholders will be able to obtain free copies of the Form S-4, the Proxy Statement and other documents filed by McCarthy Finney with the SEC (when they become available) through the website maintained by the SEC at www.sec.gov. Copies of the documents filed by Auddia with the SEC will also be available free of charge on Auddia’s website at www.auddia.com, or by contacting Auddia’s Investor Relations at investors.auddiainc.com/contact. In addition, investors and stockholders should note that Auddia communicates with investors and the public using its website at investors.auddiainc.com.

Participants in the Solicitation

Auddia, Thramann Holdings, and their respective directors and certain of their executive officers and other members of management may be deemed to be participants in the solicitation of proxies from Auddia’s stockholders in connection with the proposed transaction under the rules of the SEC. Information about Auddia’s directors and executive officers, including a description of their interests in Auddia, is included in Auddia’s most recent Annual Report on Form 10-K for the year ended December 31, 2025, which was filed with the SEC on March 6, 2026. Additional information regarding the persons who may be deemed participants in the proxy solicitations, including about the directors and executive officers of Thramann Holdings, and a description of their direct and indirect interests, by security holdings or otherwise, will also be included in the Form S-4, the Proxy Statement and other relevant materials to be filed with the SEC when they become available. These documents can be obtained free of charge from the sources indicated above.

Investor Relations:
Kirin Smith, President
PCG Advisory, Inc.
ksmith@pcgadvisory.com
www.pcgadvisory.com

  • Third quarter net revenue of $145 million, down approximately 2% year-over-year
  • Third quarter adjusted EBITDA of $22 million
  • Third quarter net income of $11 million and third quarter adjusted net income of $18 million
  • Strong liquidity position including cash, cash equivalents and investments of $561 million, and aggregate credit facilities of $350 million which remain undrawn

NEW YORK, Nov. 11, 2026 (GLOBE NEWSWIRE) — ODDITY Tech Ltd. (NASDAQ: ODD) today announced its financial results for the third quarter ended September 30, 2026.

“We made further progress stabilizing our business and delivered strong results for SpoiledChild and METHODIQ,” said Oran Holtzman, ODDITY co-founder and CEO. “We continue to work in close collaboration with our largest advertising partner to solve the IL MAKIAGE account dislocation and are hopeful we are on a path to normalization. Our goal is to return the company to growth and we are optimistic about the initiatives planned for 2027.”

ODDITY achieved key objectives during the third quarter, including:

  • Net revenue and adjusted EBITDA results above our outlook for the third quarter ended September 30, 2026.
  • Strong double-digit net revenue growth for SpoiledChild during the third quarter. SpoiledChild is on track to grow at least 35% compared to 2025 and approach $350 million of net revenue in 2026.
  • Continued sequential growth for METHODIQ, which remains on track to deliver first-year net revenue ahead of SpoiledChild’s first year.
  • Category expansion initiatives at METHODIQ, including the launch of longevity and metabolic health with prescription injectable and peptide therapies planned for 2027.
  • Maintaining a strong liquidity position, including $561 million of cash, cash equivalents and investments and $350 million of undrawn credit facilities.

“Third quarter net revenue declined 2% year-over-year, better than our outlook and a substantial sequential improvement from the second quarter,” said Lindsay Drucker Mann, ODDITY Global CFO. “We are raising our full year net revenue outlook and adjusted EBITDA outlook.”

Third Quarter Fiscal 2026 Financial Highlights:

Results for the third quarter ended September 30, 2026 are presented below in comparison to the third quarter ended September 30, 2025.

  • Net revenue was $145 million compared to $148 million in the third quarter of 2025, a decrease of 2%.
  • Gross profit was $98 million compared to $106 million in the third quarter of 2025; gross margin was 67.4% compared to 71.6%.
  • Net income was $11 million compared to $18 million in the third quarter of 2025.
  • Adjusted net income was $18 million compared to $25 million in the third quarter of 2025.
  • Adjusted EBITDA was $22 million compared to $29 million in the third quarter of 2025.
  • Diluted earnings per share was $0.23 compared to $0.28 in the third quarter of 2025.
  • Adjusted diluted earnings per share was $0.37 compared to $0.40 in the third quarter of 2025.
  • Cash, cash equivalents, and investments were $561 million as of September 30, 2026.
  • During the third quarter, ODDITY withheld approximately $0.5 million of Class A ordinary shares to satisfy tax withholding obligations that were settled in the fourth quarter. The shares withheld were treated as repurchases under the $200 million 2026 Buyback Plan. Approximately $86 million remained under the plan as of September 30, 2026, subject to market conditions and legal and regulatory constraints.
Financial results have been rounded to the nearest million, unless indicated otherwise.
 

The table below sets forth our actual results for the three months ended September 30, 2026 and the low and high end of our guidance range regarding our results for the third quarter of 2026 as issued on September 9, 2026.

  Three months ended September 30, 2026
  Actual
Results
Guidance
Low End
Guidance
High End
Net Revenue -2% -5% -5%
Adjusted EBITDA $22 million $18 million $20 million
       

Financial Outlook:

ODDITY is raising net revenue and adjusted EBITDA guidance for the full year ending December 31, 2026:

  • Net revenue to decrease by approximately 18.5% year-over-year
  • Adjusted EBITDA between $32 million and $34 million
  Current FY2026 Outlook Prior FY2026 Outlook
Net Revenue -18.5% -19.0%
Adjusted EBITDA $32 to $34 million $30 to $32 million
     

ODDITY is providing the following guidance for the fourth quarter ending December 31, 2026:

  • Net revenue to decrease by between 10% and 11% year-over-year
  • Adjusted EBITDA between $4 million and $6 million

Adjusted EBITDA, Adjusted net income, and Adjusted diluted earnings per share are non-GAAP financial measures. Please see the sections titled “Non-GAAP Financial Measures” and “Reconciliation of GAAP to Non-GAAP Measures” below for more information regarding ODDITY’s use of non-GAAP financial measures and reconciliations to the most directly comparable GAAP measures. ODDITY has not provided a quantitative reconciliation of its Adjusted EBITDA outlook to the corresponding net income measure because the quantification of certain items included in the calculation of GAAP net income cannot be calculated or predicted at this time without unreasonable efforts. ODDITY is unable to address the probable significance of the unavailable reconciling items, which could have a potentially unpredictable, and potentially significant, impact on its future GAAP financial results.

The financial outlook figures presented above are forward-looking statements that are subject to a variety of assumptions and estimates. Actual results may differ materially from ODDITY’s financial outlook as a result of, among other things, the factors described under “Forward-Looking Statements” below.

Conference Call Details:

A conference call to discuss ODDITY’s Q3 2026 financial and business results and outlook is scheduled for today, November 11, 2026, at 8:30 a.m. ET. To participate, please dial 1-877-407-9208 (US) or 1-201-493-6784 (international). To access the call, please reference the company name and call title: ODDITY Third Quarter 2026 Earnings Call. A webcast of the call will be accessible on the Investors section of ODDITY’s website at https://investors.oddity.com. A recording will be available shortly after the conclusion of the call. To access the replay, please dial 1-844-512-2921 (US) or 1-412-317-6671 (international). The access code for the replay is 13763500. An archive of the webcast will be available on the Investors section of ODDITY’s website for seven days following the call.

Non-GAAP Financial Measures:

In addition to the GAAP financial measures set forth in this press release, ODDITY has included the following non-GAAP financial measures: Adjusted EBITDA, Adjusted net income, Adjusted diluted earnings per share, and free cash flow. ODDITY believes these non-GAAP financial measures provide useful supplemental information to management and investors to help evaluate ODDITY’s business, measure its performance, identify trends, prepare financial projections, and make business decisions.

ODDITY defines “Adjusted EBITDA” as net income before financial income, net, taxes on income, and depreciation and amortization as further adjusted to exclude share-based compensation expense and certain unusual or non-recurring items. ODDITY believes Adjusted EBITDA is useful for financial and operational decision-making and as a means to evaluate period-to-period comparisons. By excluding certain items that may not be indicative of its recurring core operating results, ODDITY believes that Adjusted EBITDA provides meaningful supplemental information regarding its performance. In addition, Adjusted EBITDA is widely used by investors and securities analysts to measure a company’s operating performance without regard to items such as depreciation and amortization, interest expense, and interest income, which can vary substantially from company to company depending on their financing and capital structures and the method by which their assets were acquired.

ODDITY defines “Adjusted net income” as net income adjusted for the impact of share-based compensation, certain unusual or non-recurring items, one-time tax gains/losses and the tax effect of non-GAAP adjustments. In addition, ODDITY defines “Adjusted diluted earnings per share” as Adjusted net income divided by diluted shares outstanding. ODDITY believes the presentations of Adjusted net income and Adjusted diluted earnings per share are useful because they are frequently used by analysts, investors and other interested parties to evaluate companies in our industry. Further, ODDITY believes these measures are helpful in highlighting trends in our operating results, because they exclude the impact of items that are outside the control of management or not reflective of our ongoing operations and performance.

ODDITY defines “free cash flow” as net cash provided by operating activities less purchase of property and equipment.

ODDITY’s non-GAAP financial measures should be considered in addition to, not as a substitute for or in isolation from, its financial results prepared in accordance with U.S. GAAP. Other companies, including companies in our industry, may calculate these measures differently or not at all, which reduces their usefulness as comparative measures.

Reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures are included with the financial tables at the end of this release under the heading “Reconciliation of GAAP to Non-GAAP Measures.” 

Forward-Looking Statements:

Certain statements in this press release may constitute “forward-looking” statements and information, within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 that relate to our current expectations and views of future events. In some cases, these forward-looking statements can be identified by words or phrases such as “aim,” “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “goal,” “hope,” “intend,” “may,” “objective,” “plan,” “potential,” “predict,” “project,” “shall,” “should,” “target,” “will,” “seek,” or similar words. The absence of these words does not mean that a statement is not forward-looking. These forward-looking statements address various matters, including ODDITY’s business strategy, market opportunity, new category and product launches, ability to deliver superior products and experiences, ability to remedy the dislocation in our customer acquisition costs, potential long-term success and ODDITY’s outlook for the fourth quarter of 2026 and the full year ending December 31, 2026. These forward-looking statements are subject to risks, uncertainties and assumptions, some of which are beyond our control. In addition, these forward-looking statements reflect our current views with respect to future events and are not a guarantee of future performance. Actual outcomes may differ materially from the information contained in the forward-looking statements as a result of a number of factors, including, without limitation, the following: our ability to maintain the value of our brands; our ability to anticipate and respond to market trends and changes in consumer preferences; our ability to cost-effectively attract new customers (including by responding effectively to changes to algorithm-based bidding systems on key advertising platforms), retain existing customers and maintain or increase sales to those customers; our ability to maintain a strong base of engaged customers and content creators; the risk that the HHS’s interim enforcement discretion policy covering certain compounded peptides, which is not binding, may be modified, withdrawn, finalized in a different form, including following public comment, challenged or applied differently than we
expect; the fact that compounded peptide products are not approved by, and have not been evaluated by, the FDA for safety or effectiveness, and may be subject to adverse events, product liability claims, negative publicity or changes in medical or scientific understanding, which could have an adverse impact on our reputation and consumer demand; the loss of suppliers or shortages or disruptions in the supply of raw materials or finished products; our ability to accurately forecast customer demand, manage our inventory, and plan for future expenses; our future rate of growth; competition; the fluctuating cost of raw materials; the illegal distribution and sale by third parties of counterfeit versions of our products or the unauthorized diversion by third parties of our products; changes in, or disruptions to, our shipping arrangements; our ability to manage our growth effectively; a general economic downturn or sudden disruption in business conditions; our ability to successfully introduce and effectively market new brands, or develop and introduce new, innovative, and updated products; foreign currency fluctuations; product returns; our ability to execute on our business strategy; our ability to maintain a high level of customer satisfaction; our ability to comply with and adapt to changes in laws and regulatory requirements applicable to our business, including with respect to regulation of the internet and e-commerce, evolving AI-technology related laws, tax laws, the anti-corruption, trade compliance, anti-money laundering, and terror finance and economic sanctions laws and regulations, consumer protection laws, and data privacy and security laws; failure of our products to comply with quality standards and risks related to product liability claims; trade restrictions; existing and potential tariffs; any data breach or other security incident of our information technology systems, or those of our third-party service providers or cyberattacks; risks related to online transactions and payment methods; any failure to obtain, maintain, protect, defend, or enforce our intellectual property rights; conditions in Israel and the Middle East generally, including as a result of geopolitical conflict; the concentration of our voting power as a result of our dual class structure; our status as a foreign private issuer; and other risk factors set forth in the section titled “Risk Factors” in our Annual Report on Form 20-F filed with the Securities and Exchange Commission on March 17, 2026, and other documents filed with or furnished to the SEC. These statements reflect management’s current expectations regarding future events and operating performance and speak only as of the date of this press release. You should not put undue reliance on any forward-looking statements. Except as required by applicable law, we undertake no obligation to update or revise publicly any forward-looking statements.

About ODDITY:

ODDITY is a consumer tech company that builds and scales digital-first brands to disrupt the offline-dominated beauty and wellness industries. The company serves over 70 million users with its AI-driven online platform, deploying data science to identify consumer needs, and developing solutions in the form of beauty and wellness products. ODDITY owns IL MAKIAGE, SpoiledChild, and METHODIQ. The company operates with business headquarters in New York City, an R&D center in Tel Aviv, Israel, and a biotechnology lab in Boston.

Contacts:
Press:
press@oddity.com
Investor:
investors@oddity.com

 
ODDITY TECH LTD.
 
CONSOLIDATED STATEMENTS OF INCOME
U.S. dollar in thousands (except per share data)
 
    Three months ended
September 30,
  Nine months ended
September 30,
      2026       2025       2026       2025  
                 
    (Unaudited)   (Unaudited)
Net revenue   $ 144,981     $ 147,902     $ 523,438     $ 657,118  
                 
Cost of revenue     47,301       42,016       163,842       176,032  
                 
Gross profit     97,680       105,886       359,596       481,086  
                 
Selling, general and administrative     87,580       88,526       376,246       363,967  
                 
Operating income (loss)     10,100       17,360       (16,650 )     117,119  
                 
Financial (income), net     (6,854 )     (6,200 )     (28,693 )     (11,340 )
                 
Income before taxes on income     16,954       23,560       12,043       128,459  
                 
Taxes on income     5,759       5,815       9,319       23,598  
                 
Net income   $ 11,195     $ 17,745     $ 2,724     $ 104,861  
Weighted-average number of shares – basic (thousands)     46,522       57,335       49,995       56,725  
Weighted-average number of shares – diluted (thousands)     48,235       62,659       53,202       61,777  
                 
Earnings per share attributable to Class A and Class B Ordinary shareholders:                
Basic   $ 0.24     $ 0.31     $ 0.05     $ 1.85  
Diluted   $ 0.23     $ 0.28     $ 0.05     $ 1.70  
                                 
                                 

ODDITY TECH LTD.
 
CONSOLIDATED BALANCE SHEETS
U.S. dollar in thousands
 
    September 30,     December 31,
    2026     2025
    (Unaudited)     (Audited)
ASSETS          
CURRENT ASSETS:          
Cash and cash equivalents   $ 168,341     $ 402,209
Marketable securities     30,146       11,170
Trade receivables     10,294       16,902
Inventories     157,507       135,181
Prepaid expenses and other current assets     35,288       36,336
           
Total current assets     401,576       601,798
           
LONG-TERM ASSETS:          
Marketable securities     362,182       362,571
Property, plant and equipment, net     9,972       10,864
Deferred tax asset, net     28,088       27,693
Intangible assets, net     50,153       43,582
Goodwill     64,904       64,904
Operating lease right-of-use assets     19,321       22,311
Other assets     4,094       4,069
           
Total long-term assets     538,714       535,994
           
Total assets   $ 940,290     $ 1,137,792
               
               

ODDITY TECH LTD.
 
CONSOLIDATED BALANCE SHEETS
U.S. dollar in thousands
 
    September 30,   December 31,
    2026   2025
    (Unaudited)   (Audited)
LIABILITIES AND SHAREHOLDERS’ EQUITY        
CURRENT LIABILITIES:        
Trade payables   $ 54,766     $ 75,957
Other accounts payable and accrued expenses     43,612       32,869
Operating lease liabilities, current     4,917       6,002
         
Total current liabilities     103,295       114,828
         
LONG-TERM LIABILITIES:        
Operating lease liabilities, non-current     16,128       17,463
Exchangeable Note     538,049       584,368
Other long-term liabilities     24,719       24,638
         
Total liabilities     682,191       741,297
         
SHAREHOLDERS’ EQUITY:        
Class A Ordinary shares     11       15
Class B Ordinary shares     3       3
Additional paid-in capital1     15,117       77,571
Accumulated other comprehensive (loss) income     (3,530 )     4,892
Retained earnings1     246,498       314,014
         
Total shareholders’ equity     258,099       396,495
         
Total liabilities and shareholders’ equity   $ 940,290     $ 1,137,792
               
               
¹ Retained earnings in 2026 were reduced by $70.2 million of share repurchase costs in excess of additional paid-in capital. 
 
 

ODDITY TECH LTD.
 
CONSOLIDATED STATEMENTS OF CASH FLOWS
U.S. dollar in thousands
 
    Nine months ended
September 30,
      2026       2025  
    (Unaudited)
Cash flows from operating activities:        
Net income   $ 2,724     $ 104,861  
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation and amortization     11,423       7,981  
Share-based compensation     25,908       25,734  
Deferred income taxes     1,996       (3,462 )
Amortization of debt issuance costs     2,511       –  
Gain on repurchase of 0% exchangeable senior notes due 2030 (“exchangeable notes”)     (13,539 )     –  
Change in trade receivables     6,608       (300 )
Change in prepaid expenses and other receivables     638       (6,178 )
Change in inventories     (22,326 )     (16,238 )
Change in trade payables     (21,191 )     (19,167 )
Change in other accounts payable and accrued expenses     13,182       1,389  
Change in operating lease right-of-use assets     5,910       4,237  
Change in operating lease liability     (5,341 )     (2,594 )
Other     (3,617 )     (3,729 )
         
Net cash provided by operating activities   $ 4,886     $ 92,534  
         
Cash flows from investing activities:        
Purchase of property and equipment     (2,361 )     (2,957 )
Capitalization of software development costs and investment in other intangible assets     (11,410 )     (8,048 )
Investment in marketable securities, net     (28,284 )     (93,072 )
Maturities of short-term deposits     –       21,365  
Other investing activities     –       (151 )
         
Net cash used in investing activities     (42,055 )     (82,863 )
         
Cash flows from financing activities:        
Proceeds from issuance of exchangeable notes, net of issuance costs     –       583,120  
Repurchase of exchangeable notes     (35,291 )     –  
Purchase of capped calls     –       (63,280 )
Proceeds from exercise of options     1,388       12,004  
Repurchase and retirement of Class A ordinary shares     (162,778 )     –  
         
Net cash (used in) provided by financing activities     (196,681 )     531,844  
         
Effect of exchange rate fluctuations on cash and cash equivalents     (65 )     210  
         
Net (decrease) increase in cash, cash equivalents and restricted cash     (233,915 )     541,725  
Cash, cash equivalents and restricted cash at the beginning of the period     402,279       50,347  
         
Cash, cash equivalents and restricted cash at the end of the period   $ 168,364     $ 592,072  
                 
                 

ODDITY TECH LTD.
 
Reconciliation of GAAP to Non-GAAP Measures
U.S. dollar in thousands (except per share data)
 
  Three months ended
September 30,
Nine months ended
September 30,
    2026       2025       2026       2025    
                 
  (Unaudited)   (Unaudited)  
Reconciliation of Net Income and Adjusted EBITDA                
Net income $ 11,195     $ 17,745     $ 2,724     $ 104,861    
Financial (income), net   (6,854 )     (6,200 )     (28,693 )     (11,340 )  
Taxes on income   5,759       5,815       9,319       23,598    
Depreciation and amortization   3,922       2,673       11,423       7,981    
Share-based compensation   8,021       8,881       25,908       25,734    
Other adjustments1   –       –       7,199       –    
                 
Adjusted EBITDA $ 22,043     $ 28,914     $ 27,880     $ 150,834    
                 
Reconciliation of Net Income and Adjusted Net Income                
   
Net income $ 11,195     $ 17,745     $ 2,724     $ 104,861    
Share-based compensation   8,021       8,881       25,908       25,734    
Other adjustments2   –       –       (6,340 )     –    
Tax adjustments3   (1,475 )     (1,658 )     (3,598 )     (6,738 )  
                 
Adjusted net income $ 17,741     $ 24,968     $ 18,694     $ 123,857    
                 
Diluted earnings per share $ 0.23     $ 0.28     $ 0.05     $ 1.70    
Impact of adjustments   0.14       0.12       0.30       0.30    
                 
Adjusted diluted earnings per share $ 0.37     $ 0.40     $ 0.35     $ 2.00    
                                 
                                 

Reconciliation of net cash provided by operating activities to free cash flow    
    Nine months ended
September 30,
      2026       2025  
    (Unaudited)
Net cash provided by operating activities   $ 4,886     $ 92,534  
Purchase of property and equipment     (2,361 )     (2,957 )
         
Free cash flow   $ 2,525     $ 89,577  
                 
                 
                 
                 
¹ Represents costs of certain legal matters and employee actions outside the ordinary course of business.
² Represents costs of certain legal matters and employee actions outside the ordinary course of business and, in the second quarter of 2026, a $13.5 million gain on repurchases of our exchangeable notes.
³ Represents the tax impact of (a) the reconciling items above and (b) other discrete tax items in 2025.
 
 

ODDITY TECH LTD.
 
Supplemental Financial Information
U.S. dollar in thousands
 
Cash, cash equivalents, and investments
 
    September 30,   December 31,
    2026   2025
    (Unaudited)   (Audited)
         
Cash, restricted cash, and cash equivalents   $ 168,364   $ 402,279
Marketable securities     392,328     373,741
         
Total cash and investments   $ 560,692   $ 776,020
             
             

Net revenue by sales channel      
  Three months ended   Nine months ended
  September 30, September 30,
    2026       2025       2026       2025  
  (Unaudited)   (Unaudited)
Online direct-to-consumer $ 138,714     $ 140,458     $ 505,827     $ 636,672  
Percent of net revenue   96 %     95 %     97 %     97 %
               
Other (Israel retail, marketing affiliates) $ 6,267     $ 7,444     $ 17,611     $ 20,446  
Percent of net revenue   4 %     5 %     3 %     3 %
               
Net revenue $ 144,981     $ 147,902     $ 523,438     $ 657,118  
                               
                               

Note: ODDITY does not sell to resellers or distributors. Online direct-to-consumer revenues are generated directly by ODDITY through its online platform only (i.e., ILMAKIAGE.com, SpoiledChild.com, and METHODIQ.com). All revenue in Israel, including revenue generated in stores, online, and from beauty academies, is included in Other.

AC Immune to Present at Jefferies Global Healthcare Conference 2026 

Lausanne, Switzerland, November 11, 2026 — AC Immune SA (NASDAQ: ACIU), a clinical-stage biopharma company targeting the key pathologic misfolded proteins and pathways that drive neurodegenerative diseases, today announced that Martin Zügel, Interim CEO, will present and participate in a fireside chat at the annual Jefferies Global Healthcare Conference 2026, taking place November 16-19 in London, UK.

The session will begin with a brief company presentation by Martin, followed by a fireside chat hosted by Alyna Shamsi, Equity Research Analyst at Jefferies.

During the session, Martin will discuss AC Immune’s lead candidate, ACI-7104, an anti-alpha-synuclein (a-syn) active immunotherapy in Phase 2 development for early-stage Parkinson’s disease, alongside updates on the Company’s wholly-owned portfolio, including ACI-19764 and its small-molecule Morphomer targeting a-syn.

Session details

Presentation and fireside chat
Speaker: Martin Zügel, Interim CEO, AC Immune
Host: Alyna Shamsi, Equity Research Analyst, Jefferies
Session: Biotechnology | Hybrid
Date/Time/Location: November 18, 11:30 GMT, Waldorf – Aldwych, Ground Level

Ends

For further information, please contact:

SVP, Investor Relations & Corporate Communications

Gary Waanders, Ph.D., MBA
AC Immune
Phone: +41 21 345 91 91
Email: gary.waanders@acimmune.com

 

International Media
Optimum Strategic Communications
Nick Bastin, Joshua Evans, Aoife Minihan, Ben Cowe
Phone: +44 (0) 20 4566 8543
Email: acimmune@optimumcomms.com

 

About AC Immune SA 

AC Immune (NASDAQ: ACIU) is a clinical-stage biopharma company selectively targeting the key pathologic misfolded proteins and pathways that drive neurodegenerative diseases. Building on more than two decades of expertise in the field of misfolded proteins, AC Immune is advancing a diversified portfolio of disease-modifying active immunotherapies and small molecule approaches.

AC Immune’s wholly-owned pipeline includes its lead program, ACI-7104, in Phase 2 development for early Parkinson’s disease (PD), a progressive neurodegenerative disease affecting c.10 million people worldwide with no approved disease-modifying therapies today. By targeting misfolded alpha-synuclein, a key driver of PD progression, ACI-7104 aims to slow, or halt, the spread of the disease throughout the brain before irreversible neurological damage occurs. The Company is also advancing ACI-19764, an NLRP3 inflammasome inhibitor in Phase 1, and a preclinical intracellular small molecule alpha-synuclein program.

AC Immune has built one of the most extensively validated neurodegenerative disease pipelines in biotech, including three active immunotherapies with FDA Fast Track designation, and programs being developed in collaboration with three of the world’s leading pharmaceutical companies. These collaborations provide external validation of the Company’s science, targets and proprietary platforms while contributing substantial non-dilutive funding, more than $4.5 billion in potential milestone payments, and future royalty opportunities. By combining deep expertise in protein misfolding with differentiated technology platforms and clinically validated targets, AC Immune is advancing a new generation of disease-modifying therapies for neurodegenerative diseases, aiming to make a real difference for patients.

All trademarks used or mentioned in this release are protected by law. The information on our website and any other websites referenced herein is expressly not incorporated by reference into, and does not constitute a part of, this press release.

Forward looking statements

This press release contains statements that constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are statements other than historical fact and may include statements that address future operating, financial or business performance or AC Immune’s strategies or expectations. In some cases, you can identify these statements by forward-looking words such as “may,” “might,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “projects,” “potential,” “outlook” or “continue,” and other comparable terminology. Forward-looking statements are based on management’s current expectations and beliefs and involve significant risks and uncertainties that could cause actual results, developments and business decisions to differ materially from those contemplated by these statements. These risks and uncertainties include those described under the captions “Item 3. Key Information – Risk Factors” and “Item 5. Operating and Financial Review and Prospects” in AC Immune’s Annual Report on Form 20-F and other filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made, and AC Immune does not undertake any obligation to update them in light of new information, future developments or otherwise, except as may be required under applicable law. All forward-looking statements are qualified in their entirety by this cautionary statement.

Attachment

Espoo, Finland, 11 November 2026: Herantis Pharma Plc (“Herantis”), a clinical-stage company developing disease-modifying therapies to stop the progression of Parkinson’s disease, today announces that the Horizon Europe-funded research Project HERMOD (HER-096 Motor Outcomes and Disease Modification in Parkinson’s Disease) has officially launched to support the multinational Phase 2 clinical study of HER-096, its lead candidate for the treatment of Parkinson’s disease. The €8 million project brings together leading clinical research, academic and industry partners across Europe.

Prof. Rejko Krüger, lead principal investigator at Luxembourg Institute of Health and Centre Hospitalier de Luxembourg, said: “HERMOD brings together complementary expertise across Europe to evaluate and advance a promising investigational therapy for Parkinson’s disease. By combining scientific excellence, clinical expertise and cross-sector collaboration, we aim to generate knowledge that may help improve the lives of people living with this condition.”

Antti Vuolanto, CEO of Herantis Pharma, said: “We are pleased to launch HERMOD and begin the next stage in the clinical development of HER-096. This project will help us evaluate the potential of HER-096 in people with Parkinson’s disease and generate important evidence to support future development decisions.”

Evaluating HER-096 in a Phase 2 clinical study
HERMOD Phase 2 clinical study is a multicenter, randomized, placebo-controlled study in people with newly diagnosed Parkinson’s disease. The study will evaluate the efficacy, safety and tolerability of HER-096 while also exploring innovative digital biomarkers that may help detect treatment effects and disease progression more sensitively.

The study will recruit approximately 100 participants at clinical sites across Europe, including sites participating in the EU-funded HERMOD consortium. The study will include a 36-week double-blind, placebo-controlled period followed by a 24-week period during which all participants will receive active treatment.

Study preparations are progressing as planned. Clinical Trial Application (CTA) submission is targeted for Q4 2026, with first participant dosing expected in H1 2027, subject to financing and regulatory approvals.

A European collaboration
The HERMOD consortium combines expertise in clinical neurology, Parkinson’s disease research, biomarker development, clinical trial operations, data analysis and innovation management. The project is coordinated by Karolinska University Hospital, while Herantis Pharma Plc, the developer of HER-096, serves as the Sponsor of the Phase 2 clinical study and leads the project’s scientific and technical implementation. Luxembourg Institute of Health leads clinical study activities in collaboration with Centre Hospitalier de Luxembourg. Karolinska University Hospital and Skåne University Hospital serve as clinical sites, and Karolinska Institutet contributes expertise in advanced brain imaging.

The consortium includes:

  • Herantis Pharma Plc (Finland) – Sponsor of the Phase 2 clinical study and Developer of HER-096
  • Karolinska University Hospital (Sweden) – Project Coordinator and Clinical site
  • Luxembourg Institute of Health (Luxembourg) – Clinical study lead in collaboration with Centre Hospitalier de Luxembourg, which serves as a clinical site
  • Skåne University Hospital (Sweden) – Clinical site
  • Karolinska Institutet – Centre for Imaging Research, Brain Molecular Imaging Center and MRI Center

The consortium’s clinical sites will contribute to patient recruitment and study execution alongside other participating clinical sites outside the EU-funded consortium.

Expected impact
The EU-funded HERMOD project aims to strengthen Europe’s leadership in neurodegenerative disease research while advancing the development of innovative therapeutic approaches for Parkinson’s disease. In addition to evaluating HER-096, the project is expected to contribute to improvements in clinical assessment methods, advances in biomarker development, and a deeper understanding of disease progression.

The HERMOD Phase 2 clinical study seeks to translate scientific advances into potential benefits for patients, healthcare systems and society.

About HERMOD
Project title: HERMOD – HER-096 Motor Outcomes and Disease Modification in Parkinson’s Disease
Programme: Horizon Europe
Grant Agreement No.: 101286586
Coordinator: Karolinska University Hospital
Clinical Trial Sponsor: Herantis Pharma Plc
Website (coming soon): www.hermod-project.eu

Funding
The HERMOD EU consortium is funded by the European Union through the Horizon Europe Research and Innovation Programme under Grant Agreement No. 101286586.

Views and opinions expressed are those of the author(s) only and do not necessarily reflect those of the European Union or the European Health and Digital Executive Agency (HaDEA). Neither the European Union nor the granting authority can be held responsible for them.

About Parkinson’s disease
Parkinson’s disease is the second most common neurodegenerative disorder worldwide, affecting more than 10 million people globally. The disease progressively impairs movement and quality of life and is associated with a wide range of non-motor symptoms. While currently available treatments can help manage motor symptoms, there remains a significant unmet need for therapies that can slow or halt the underlying disease process and address non-motor symptoms.

The HERMOD project seeks to address this challenge by evaluating HER-096, an investigational therapy designed to support neuronal function and potentially modify disease progression.

For more information, please contact:

Herantis Pharma Plc
Antti Vuolanto, CEO
Tel: +358407517329

Tone Kvåle, CFO
Tel: +47 915 19576
Email: ir@herantis.com

ICR Healthcare
Sarah Elton-Farr, Stephanie Cuthbert, Phillip Marriage
Tel: +44 20 3709 5700
Email: herantispharma@icrhealthcare.com

Certified Advisor:
UB Corporate Finance Ltd
Tel: +358 9 25 380 225
Email: ubcf@unitedbankers.fi

About Herantis Pharma Plc

Herantis Pharma Plc is a clinical-stage biotechnology company developing disease-modifying therapies for people with Parkinson’s disease. The Company’s lead candidate, HER-096, is a first-in-class small peptide that combines the neuroprotective mechanism of cerebral dopamine neurotrophic factor (CDNF) with the convenience of subcutaneous administration. In a Phase 1b clinical trial, HER-096 was shown to be generally safe and well tolerated in Parkinson’s disease patients. Herantis plans to advance HER-096 into a Phase 2 clinical trial in 2027 to evaluate its efficacy, safety, and tolerability in people with early-stage Parkinson’s disease.

Herantis is listed on Nasdaq First North Growth Market Finland.

Company website: www.herantis.com

Forward-looking statements
This release includes forward-looking statements which are not historical facts but statements regarding future expectations instead. These forward-looking statements include without limitation, those regarding Herantis’ future financial position and results of operations, the Company’s strategy, objectives, future developments in the markets in which the Company participates or is seeking to participate or anticipated regulatory changes in the markets in which the Company operates or intends to operate. In some cases, forward-looking statements can be identified by terminology such as “aim,” “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “guidance,” “intend,” “may,” “plan,” “potential,” “predict,” “projected,” “should” or “will” or the negative of such terms or other comparable terminology. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors because they relate to events and depend on circumstances that may or may not occur in the future. Forward-looking statements are not guarantees of future performance and are based on numerous assumptions. The Company’s actual results of operations, including the Company’s financial condition and liquidity and the development of the industry in which the Company operates, may differ materially from (and be more negative than) those made in, or suggested by, the forward-looking statements contained in this company release. Factors, including risks and uncertainties that could cause these differences include, but are not limited to risks associated with implementation of Herantis’ strategy, risks and uncertainties associated with the development and/or approval of Herantis’ drug candidates, ongoing and future clinical trials and expected trial results, the ability to commercialize drug candidates, technology changes and new products in Herantis’ potential market and industry, Herantis’ freedom to operate in respect of the products it develops (which freedom may be limited, e.g., by competitors’ patents), the ability to develop new products and enhance existing products, the impact of competition, changes in general economy and industry conditions, and legislative, regulatory and political factors. In addition, even if Herantis’ historical results of operations, including the Company’s financial condition and liquidity and the development of the industry in which the Company operates, are consistent with the forward-looking statements contained in this company release, those results or developments may not be indicative of results or developments in subsequent periods.

  • Q3 2026 Order Intake of $528m, up 2.0% vs Q3 2025 and Order Backlog of $1.3b, expanding 16.4% vs Q3 2025 on the back of good demand particularly in Airport, Municipal and for Walk-In Van solutions
  • Net Sales of $493m in Q3 2026, up 4.6% vs Q3 2025, supported by very strong performance in Walk-In Vans
  • Gross Margin of 19.2% in Q3 2026, down 80bps vs Q3 2025 due to ongoing high inflationary pressure
  • Adjusted EBITDA1 of $44.2m in Q3 2026, up 4.9% vs Q3 2025, representing an unchanged 9.0% of Net Sales, overcoming gross margin performance with accelerated synergy realization and cost management
  • Net Income substantially improved to $10.8m in Q3 2026, up $9.6m vs Q3 2025
  • Aebi Schmidt Group updates full-year 2026 guidance2 to Net Sales of $1.95b to $2.00b, Adjusted EBITDA1 of $170m to $180m and leverage at year-end of <2.5x
  • Recently announced planned acquisition of O.J. Watson Company Inc, a municipal and commercial upfitter based in Denver, Colorado, generating around $28m in Net Sales in its last fiscal year, and giving Aebi Schmidt direct presence in the Rocky Mountains

FRAUENFELD, Switzerland, Nov. 11, 2026 (GLOBE NEWSWIRE) — Aebi Schmidt Group (NASDAQ: AEBI) (“Aebi Schmidt”, the “Group”, or the “Company”), a world-class specialty vehicles leader, reports continued growth in Net Sales and Profitability, navigating a challenging market environment.

“Aebi Schmidt delivered a solid performance navigating a challenging market environment marked by cost inflation, geopolitical uncertainty, and supply chain disruptions,” said Barend Fruithof, Chairman and Group CEO of Aebi Schmidt. “We responded quickly by accelerating synergy realization and cost measures to deliver strong profitability, while advancing the transformation of the combined organization at a remarkable pace through an expanded leadership structure and an optimized operational footprint.”

Third Quarter 2026 Financial Results

  • Order Intake in Q3 2026 increased 2.0% vs Q3 2025, driven by North America despite softness in select end markets and weaker demand from China and the Middle East driven by geopolitical conflicts
  • Order Backlog, as of September 30, 2026, grew 16.4% to $1.3b vs September 30, 2025, driven by continued strength in Airport and Municipal and a growing Walk-in-Van backlog, extending into 2027
  • Net Sales of $493m, a solid 4.6% increase vs Q3 2025
    • North America Net Sales with strong organic growth of 7.9% vs Q3 2025, reflecting improvements in Municipal and outstanding performance in the Walk-In Van operations
    • Europe and RoW Net Sales decreasing 3.6% vs Q3 2025, with weaker Rest of the World partially countered by strong performance in core European markets, but also impacted by supply chain disruptions
  • Gross Margin of 19.2% in Q3 2026, down 80bps vs Q3 2025 primarily due to ongoing high inflationary pressure, with delayed materialization of executed sales price increases
  • Adjusted EBITDA1 in Q3 2026 of $44.2m, a solid 4.9% increase vs Q3 2025
    • North America Adjusted EBITDA of $37.2m, a strong increase of $2.9m or 8.4% vs prior year quarter, supported by synergy realization which more than compensated the temporary gross margin pressure
    • Europe and RoW Adjusted EBITDA of $7.0m, a decrease of $0.8m or 10.6% vs prior year quarter, with disciplined cost management mitigating the effects of supply chain disruptions
  • Q3 2026 Net Income of $10.8m, representing a ninefold increase versus $1.2m in Q3 2025

“We remain focused on increasing profitability and driving sustainable gross margin improvement,” commented Marco Portmann, Group CFO. “We accelerated operational improvements and maintained strict cost discipline to mitigate margin pressure in the short term, while executing sales pricing measures that will drive margin recovery in 2027.”

  • Net Working Capital1 at $465m at the end of Q3 2026, up 3.0% or $13m vs the end of Q3 2025 vs an increase in net sales of 4.6% and high material cost inflation, driven by further underlying efficiency improvements
  • Net Debt1 of $446m at the end of Q3 2026, a reduction of $22m or 4.8% since the end of Q3 2025. Leverage1 at 2.66x at the end of Q3 2026, improving more than half a turn vs 3.24x at the end of Q3 2025

“Net Working Capital remained stable on a like-for-like basis despite continued growth, underscoring the strength of our operational execution and disciplined approach to working capital management,” commented Marco Portmann. “In addition, leverage continued to improve and is expected to further improve towards year-end on the back of our usual seasonal strong fourth quarter cash flow.”

Full Year 2026 Outlook

“We continue to grow our relative market position, supported by a very strong backlog, and we are compensating for temporarily reduced gross margins with strict cost management and accelerated measures,” concluded Barend Fruithof. “Given the market headwinds and supply chain disruptions, we are updating our guidance for full year 2026.”

Aebi Schmidt Group updates full-year 2026 guidance2 to Net Sales of $1.95b to $2.00b (formerly $1.95b to $2.15b), Adjusted EBITDA1 of $170m to $180m (formerly $175m to $195m) and leverage at year-end of <2.5x (formerly 2.0x or slightly above).

Third Quarter 2026 Earnings Call

The Company will host an earnings conference call and webcast today at 8:30am Eastern Time. Investors and analysts can access the conference call and webcast, including conference call materials, at https://www.aebi-schmidt.com/investors, or directly through: 

_____________________________
[1] See Non-GAAP Financial Measures for additional information regarding non-GAAP financial measures.
[2] Guidance assumes stable macro-economic and political environment, with no further escalation of inflationary pressures or supply chain disruptions. Leverage guidance includes payments for acquisitions.

Media contact
Tina Fischer, Corporate Communication
media@aebi-schmidt.com
Phone: +41 44 308 58 48

Investor Contact
Simone Grancini, Director Investor Relations
investor.relations@aebi-schmidt.com
Phone: +41 44 308 58 77 | +1 920 259 0440

Further information
https://www.aebi-schmidt.com
https://www.youtube.com/AebiSchmidtGroup
https://media.aebi-schmidt.com (pictures, logos)
   

About Aebi Schmidt Group
Aebi Schmidt Group (NASDAQ: AEBI) is a world-class specialty vehicles leader, positioned to accelerate growth and drive exceptional value. The Company is headquartered in Switzerland, employs approximately 6,000 employees, and operates production facilities and service and upfit centers across Europe and North America.

Forward-looking statements
This release contains information, including our sales and earnings guidance, all other information provided with respect to our outlook for 2026 and future periods, and other statements concerning our business, strategic position, financial projections, financial strength, future plans, objectives, and the performance of our products and operations that may constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We intend the forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in those sections. Generally, we have identified such forward-looking statements by using words such as “believe,” “expect,” “intend,” “potential,” “future,” “may,” “will,” “should,” and similar expressions or by using future dates or targets in connection with any discussion of, among other things, the construction or operation of new or existing facilities, operating performance, trends, events or developments that we expect or anticipate will occur in the future, statements relating to volume changes, share of sales and earnings per share changes, anticipated cost savings and attainment of acquisition synergies, potential capital and operational cash improvements, changes in supply and demand conditions and prices for our products, trade duties and other aspects of trade policy, statements regarding our future strategies, products and innovations, and statements expressing general views about future operating results. However, the absence of these words or similar expressions does not mean that a statement is not forward-looking. Forward-looking statements are not historical facts but instead represent only Aebi Schmidt’s beliefs regarding future events, many of which, by their nature, are inherently uncertain and outside of Aebi Schmidt’s control. It is possible that Aebi Schmidt’s actual results and financial condition may differ, possibly materially, from the anticipated results and financial condition indicated in these forward-looking statements. Management believes that these forward-looking statements are reasonable as of the time made. However, caution should be taken not to place undue reliance on any such forward-looking statements because such statements speak only as of the date when made. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. In addition, forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from Aebi Schmidt’s historical experience and our present expectations or projections. More information about factors that potentially could affect our financial results is included in our filings with the SEC, which are available at www.sec.gov or our website. All forward-looking statements in this release are qualified by this paragraph. Investors should not place undue reliance on forward-looking statements as a prediction of actual results.

Non-GAAP Financial Measures
To supplement its reporting of financial measures determined in accordance with generally accepted accounting principles in the United States (“GAAP”), Aebi Schmidt utilizes certain non-GAAP financial measures. Aebi Schmidt utilizes non-GAAP financial measures such as Adjusted EBITDA, Adjusted EBITDA margin, Net Working Capital and Net Debt to separate the impact of certain items from the underlying business. Because Aebi Schmidt uses these adjusted financial results in the management of its business, management believes this supplemental information is useful to investors for their independent evaluation and understanding of Aebi Schmidt’s underlying business performance and the performance of its management. The non-GAAP financial measures described above are in addition to, and not meant to be considered superior to, or a substitute for, Aebi Schmidt’s financial statements prepared in accordance with GAAP. Non-GAAP financial measures have limitations in that they do not reflect all of the amounts associated with the Company’s results of operations as determined in accordance with GAAP. Also, other companies might calculate these measures differently. Investors are encouraged to review the reconciliations of the non-GAAP financial measures to their most directly comparable GAAP measures included in this press release and the accompanying tables. In addition, the non-GAAP financial measures included in this earnings announcement reflect management’s judgment of particular items, and may be different from, and therefore may not be comparable to, similarly titled measures reported by other companies.

The Company did not provide reconciliations of forward-looking non-GAAP financial measures, such as Adjusted EBITDA and Leverage, to the most comparable GAAP financial measure because the Company is unable to provide a meaningful or accurate calculation or estimation of reconciling items, and the information is not available without unreasonable effort. The Company is unable to address the probable significance of the unavailable information.

               
Aebi Schmidt Group
Combined Financial Summary (Non-GAAP, unaudited)1
(in thousands)
               
Adjusted EBITDA ($k) Q3
2025
Q4
2025
Q1
2026
Q2
2026
Q3
2026
 
PYTD
 
YTD
               
Net Sales 471,325 528,371 455,545 496,408 493,107 1,378,816 1,445,060
               
Net Income / Loss 1,194 8,772 671 10,474 10,798 -6,075 21,943
               
Add (subtract)              
Interest Expense 14,228 11,761 11,350 11,126 10,054 35,545 32,530
Depreciation & amortization 14,990 16,159 13,803 14,152 13,071 38,895 41,026
Income tax (benefit) / expenses -447 2,036 488 4,848 7,022 -1,181 12,358
Restructuring and other related charges 12,759 6,391 4,216 1,541 3,375 19,198 9,132
Transaction related expenses and adjustments 5,988 562 434 414 426 26,321 1,274
Foreign exchange losses on external debt -252 -371 300 -23 -930 3,331 -653
Pension related income, net -1,025 -2,076 -776 -739 -746 -2,979 -2,261
Other -5,238 4,839 2,631 320 1,177 -5,133 4,128
Adjusted EBITDA 42,197 48,073 33,117 42,113 44,247 107,922 119,477
Adjusted EBITDA (as % of Net Sales) 9.0% 9.1% 7.3% 8.5% 9.0% 7.8% 8.3%

PYTD includes Q1, Q2 and Q3 2025; YTD includes Q1, Q2 and Q3 2026

To aid investors and analysts with comparability for the combined business of Aebi Schmidt and The Shyft Group, the Company has also presented LTM Adjusted EBITDA for periods prior to June 30, 2025 on a “Combined” basis. Combined non-GAAP financial measures include results for both Aebi Schmidt and Shyft on a combined basis inclusive of periods prior to the acquisition. Information presented on a combined basis does not reflect pro-forma adjustments or other adjustments for costs related to integration activities, cost savings or synergies that have been or may be achieved if the business combination occurred on January 1, 2024.

           
Net Debt ($k) and Leverage Sep 30,
2025
Dec 31,
2025
Mar 31,
2026
Jun 30,
2026
Sep 30,
2026
Current portion of long-term debt 25,063 46,908 67,911 66,336 44,797
Long-term debt, less current portion 628,359 548,050 560,958 551,343 544,939
Total debt 653,422 594,958 628,869 617,679 589,736
Subtract          
Cash and cash equivalents 125,971 98,512 115,886 109,734 86,969
Subordinated Shareholder Loans 58,897 59,101 58,213 57,592 56,617
Net Debt 468,554 437,345 454,770 450,353 446,150
Divide by          
LTM Adjusted EBITDA 144,678 155,995 157,867 165,500 167,550
Net Debt Leverage 3.24x 2.80x 2.88x 2.72x 2.66x

Net Debt as defined in our Credit Facility Agreement, excluding long-term subordinated shareholder loans.

           
Net Working Capital ($k) Sep 30,
2025
Dec 31,
2025
Mar 31,
2026
Jun 30,
2026
Sep 30,
2026
Accounts receivable 297,322 310,755 271,241 276,267 282,219
Inventories 384,446 346,423 379,186 380,154 394,258
Accounts payable -230,307 -234,642 -201,927 -207,281 -211,557
Total Net Working Capital 451,461 422,536 448,500 449,140 464,920

Net Working Capital is calculated as Accounts Receivable plus Inventory, less Accounts Payable

           
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS ($k) Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026
Sales 471,325 528,371 455,545 496,408 493,107
Cost of products sold -377,212 -428,568 -368,156 -399,116 -398,534
Gross profit 94,113 99,803 87,389 97,292 94,573
Operating expenses:          
Research and development -8,735 -7,700 -6,701 -6,438 -6,334
Selling, general and administrative -59,296 -57,053 -58,547 -55,702 -57,736
Amortization of purchased intangibles -7,975 -8,193 -8,052 -8,414 -6,624
Other operating income (expense) -610 459 1,279 302 -73
Total operating expenses -76,616 -72,487 -72,021 -70,252 -70,767
Operating income 17,497 27,316 15,368 27,040 23,806
Other income (expense):          
Interest expense -14,227 -11,761 -11,350 -11,126 -10,054
Other income (expense) -2,523 -4,747 -2,859 -592 4,068
Total other income (expense) -16,750 -16,508 -14,209 -11,718 -5,986
Income (loss) before income taxes 747 10,808 1,159 15,322 17,820
Income tax (expense) benefit 447 -2,036 -488 -4,848 -7,022
Net income (loss) 1,194 8,772 671 10,474 10,798
Less: Net income (loss) attributable to non-controlling interest -12 4 -24 -36 -16
Net income (loss) attributable to Aebi Schmidt Holding AG 1,206 8,768 695 10,510 10,814
Earnings (loss) per share:          
Basic earnings (loss) per share 0.02 0.11 0.01 0.14 0.14
Diluted earnings (loss) per share 0.02 0.11 0.01 0.14 0.14
Basic weighted average common shares outstanding 76,963 76,991 77,106 77,181 77,258
Diluted weighted average common shares outstanding 77,134 77,300 77,406 77,520 77,546

           
CONDENSED CONSOLIDATED BALANCE SHEETS ($k) Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026
Current assets:          
Cash and cash equivalents 125,971 98,512 115,886 109,734 86,969
Accounts receivable, less allowance for credit losses 297,322 310,755 271,241 276,267 282,219
Contract assets 82,632 82,342 81,430 92,868 93,642
Inventories 384,446 346,423 379,186 380,154 394,258
Prepaid expense and other current assets 29,855 39,698 42,553 38,010 34,805
Total current assets 920,226 877,730 890,296 897,033 891,893
           
Property, plant and equipment, net 172,949 167,899 162,626 160,459 157,982
Goodwill 415,149 403,147 403,681 409,092 409,092
Intangible assets, net 341,341 334,726 326,532 320,261 313,294
Deferred tax assets 7,699 5,910 5,733 5,687 5,633
Right of use assets operating leases 164,925 167,162 166,166 170,881 165,651
Other assets 53,071 51,705 52,081 52,298 56,594
TOTAL ASSETS 2,075,360 2,008,279 2,007,115 2,015,711 2,000,139
           
Current liabilities:          
Accounts payable 230,307 234,642 201,927 207,281 211,557
Accrued warranty 17,509 17,669 17,148 16,267 16,176
Accrued compensation and related taxes 36,386 36,957 32,900 30,392 26,303
Contract liabilities 23,330 19,856 24,222 26,791 22,717
Operating lease liabilities 19,345 18,856 18,318 18,262 17,696
Other current liabilities and accrued expenses 85,895 86,366 86,010 87,272 89,341
Current portion of long-term debt 25,063 46,908 67,911 66,336 44,797
Total current liabilities 437,835 461,254 448,436 452,601 428,587
           
Other non-current liabilities 19,368 15,308 14,822 14,812 16,283
Long-term operating lease liabilities 141,058 144,401 144,839 150,632 146,891
Long-term debt, less current portion 569,462 488,949 502,745 493,751 488,322
Long-term loans from shareholders* 58,897 59,101 58,213 57,592 56,617
Deferred tax liabilities 36,445 24,315 23,367 22,029 25,778
Total liabilities 1,263,065 1,193,328 1,192,422 1,191,417 1,162,478
           
Shareholders’ Equity:          
Common Stock 76,977 76,999 77,158 77,217 77,260
Additional paid-in capital 651,531 652,425 652,736 654,231 655,180
Treasury shares, at cost -257 -257 -257 -257 -257
Retained earnings 50,721 57,551 56,300 64,865 73,734
Accumulated other comprehensive income 33,277 28,183 28,730 28,248 31,770
Total Shareholders’ equity attributable to AEBI 812,249 814,901 814,667 824,304 837,687
Non-controlling interest 46 50 26 -10 -26
Total Shareholders’ equity 812,295 814,951 814,693 824,294 837,661
           
TOTAL LIABILITIES AND EQUITY 2,075,360 2,008,279 2,007,115 2,015,711 2,000,139

* Q3 2025 figure previously included in “Long-term debt, less current portion” in the Company’s Quarterly Report on Form 10-Q for the period ended September 30, 2025; presented above as “Long-term loans from shareholders” for comparison purposes”

           
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS ($k) Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026
Cash flows from operating activities:          
Net income (loss) 1,194 8,772 671 10,474 10,798
Depreciation and amortization 14,990 16,159 13,803 14,152 13,071
Non-cash stock based compensation expense 5,288 1,903 1,003 1,573 490
Foreign exchange (gains) losses on debt -250 -371 300 -23 -930
Non-cash financing costs 4,366 -2,749 457 457 457
Changes in valuation of liability for employee share plan -6,377 0 0 0 0
Deferred taxes -5,301 4,001 2,355 599 3,973
Pension -176 -1,788 -119 -118 -111
Other, net 157 829 -9 6 -36
Changes in operating assets and liabilities:          
Accounts receivable and contract assets -37,802 -12,728 38,445 -17,754 -7,355
Inventories 4,331 38,639 -35,777 -10,132 -15,230
Accounts payable 23,933 4,584 -32,060 5,542 4,500
Contract liabilities 911 -10,716 4,641 4,663 -622
Income tax payable and receivable 2,382 -6,150 -2,364 -1,980 2,430
Accrued compensation and related taxes 16,314 -110 -3,206 -2,368 -4,037
Other current liabilities and accrued expenses -26,599 -2,120 0 0 -19,354
Other assets and liabilities -697 -4,631 -5,879 2,016 20,983
Net cash used in/provided by operating activities -3,336 33,524 -17,739 7,107 9,028
           
Cash flows from investing activities:          
Purchases of property, plant and equipment -5,237 -3,778 -1,934 -2,658 -3,627
Purchases of intangible assets 0 -2 0 0 0
Proceeds from sale of property, plant and equipment -185 205 879 218 46
Net cash acquired in the acquisition of a business 19,905 -539 0 0 0
Net cash used in/provided by investing activities 14,483 -4,114 -1,055 -2,440 -3,581
           
Cash flows from financing activities:          
Payments on debt -514,000 -59,182 0 -9,460 -29,851
Proceeds from issuance of debt 574,635 0 41,255 501 3,754
Deferred payments related to historical transactions 0 0 -916 0 0
Payment of finance lease principal -477 -320 -338 -506 -351
Payments of dividends -2,082 -1,828 -2,001 -1,961 -1,941
Exercising and vesting of stock incentive awards -1,966 -44 -1,170 -19 0
Net cash used in/provided by financing activities 56,110 -61,374 36,830 -11,445 -28,389
           
Effect of exchange rate changes on cash and cash equivalents -4,865 4,505 -662 626 177
Net increase (decrease) in cash and cash equivalents 62,392 -27,459 17,374 -6,152 -22,765
Cash and cash equivalents at beginning of period 63,579 125,971 98,512 115,886 109,734
Cash and cash equivalents at end of period 125,971 98,512 115,886 109,734 86,969

FORM 8.3

PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
Rule 8.3 of the Takeover Code (the “Code”)

1. KEY INFORMATION

(a) Full name of discloser: Man Group PLC
(b) Owner or controller of interests and short positions disclosed, if different from 1(a):
 The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.
 
(c) Name of offeror/offeree in relation to whose relevant securities this form relates:
 Use a separate form for each offeror/offeree
Sthree plc
(d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:  
(e) Date position held/dealing undertaken:
 For an opening position disclosure, state the latest practicable date prior to the disclosure
10/11/2026
(f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer? NO

2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE

If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

(a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

Class of relevant security: 1p ordinary
  Interests Short positions
Number % Number %
(1) Relevant securities owned and/or controlled: 7,175,892 5.91    
(2) Cash-settled derivatives: 3,157,767 2.60 15,497 0.01
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:        
 TOTAL: 10,333,659 8.51 15,497 0.01

All interests and all short positions should be disclosed.

Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

(b) Rights to subscribe for new securities (including directors’ and other employee options)

Class of relevant security in relation to which subscription right exists:  
Details, including nature of the rights concerned and relevant percentages:  

3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

The currency of all prices and other monetary amounts should be stated.

(a) Purchases and sales

Class of relevant security Purchase/sale Number of securities Price per unit
1p ordinary Purchase 519 2.9232 GBP
1p ordinary Purchase 32,372 2.9342 GBP

(b) Cash-settled derivative transactions

Class of relevant security Product description
e.g. CFD
Nature of dealing
e.g. opening/closing a long/short position, increasing/reducing a long/short position
Number of reference securities Price per unit
1p ordinary Equity Swap Reducing a long position 1,367 2.9333 GBP
1p ordinary Equity Swap Reducing a long position 4,446 2.9333 GBP
1p ordinary Equity Swap Reducing a long position 22 2.9333 GBP
1p ordinary Equity Swap Reducing a long position 8,474 2.9333 GBP

(c) Stock-settled derivative transactions (including options)

(i) Writing, selling, purchasing or varying

Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type
e.g. American, European etc.
Expiry date Option money paid/ received per unit

(ii) Exercise

Class of relevant security Product description
e.g. call option
Exercising/ exercised against Number of securities Exercise price per unit

(d) Other dealings (including subscribing for new securities)

Class of relevant security Nature of dealing
e.g. subscription, conversion
Details Price per unit (if applicable)

4. OTHER INFORMATION

(a) Indemnity and other dealing arrangements

Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
None

(b) Agreements, arrangements or understandings relating to options or derivatives

Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:
(i) the voting rights of any relevant securities under any option; or
(ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
None

(c) Attachments

Is a Supplemental Form 8 (Open Positions) attached? NO

Date of disclosure: 11/11/2026
Contact name: Molly Childs
Telephone number: +44 20 7144 3714

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

FORM 8.3

PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
Rule 8.3 of the Takeover Code (the “Code”)

1. KEY INFORMATION

(a) Full name of discloser: Man Group PLC
(b) Owner or controller of interests and short positions disclosed, if different from 1(a):
 The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.
 
(c) Name of offeror/offeree in relation to whose relevant securities this form relates:
 Use a separate form for each offeror/offeree
Vesuvius plc
(d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:  
(e) Date position held/dealing undertaken:
 For an opening position disclosure, state the latest practicable date prior to the disclosure
10/11/2026
(f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer? YES
Offeror: RHI Magnestia N.V.

2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE

If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

(a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

Class of relevant security: 10p ordinary
  Interests Short positions
Number % Number %
(1) Relevant securities owned and/or controlled: 12,867,699 5.18    
(2) Cash-settled derivatives: 12,648 0.00 174,511 0.07
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:        
 TOTAL: 12,880,347 5.19 174,511 0.07

All interests and all short positions should be disclosed.

Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

(b) Rights to subscribe for new securities (including directors’ and other employee options)

Class of relevant security in relation to which subscription right exists:  
Details, including nature of the rights concerned and relevant percentages:  

3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

The currency of all prices and other monetary amounts should be stated.

(a) Purchases and sales

Class of relevant security Purchase/sale Number of securities Price per unit
10p ordinary Sale 130,632 4.5442 GBP

(b) Cash-settled derivative transactions

Class of relevant security Product description
e.g. CFD
Nature of dealing
e.g. opening/closing a long/short position, increasing/reducing a long/short position
Number of reference securities Price per unit
10p ordinary Equity Swap Reducing a short position 400 4.5373 GBP
10p ordinary Equity Swap Increasing a long position 303 4.5460 GBP
10p ordinary Equity Swap Increasing a long position 786 4.5460 GBP
10p ordinary Equity Swap Reducing a short position 15,398 4.5373 GBP
10p ordinary Equity Swap Increasing a long position 65 4.5460 GBP
10p ordinary Equity Swap Reducing a short position 20,696 4.5373 GBP
10p ordinary Equity Swap Reducing a short position 1,028 4.5373 GBP
10p ordinary Equity Swap Reducing a short position 1,891 4.5373 GBP

(c) Stock-settled derivative transactions (including options)

(i) Writing, selling, purchasing or varying

Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type
e.g. American, European etc.
Expiry date Option money paid/ received per unit

(ii) Exercise

Class of relevant security Product description
e.g. call option
Exercising/ exercised against Number of securities Exercise price per unit

(d) Other dealings (including subscribing for new securities)

Class of relevant security Nature of dealing
e.g. subscription, conversion
Details Price per unit (if applicable)

4. OTHER INFORMATION

(a) Indemnity and other dealing arrangements

Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
None

(b) Agreements, arrangements or understandings relating to options or derivatives

Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:
(i) the voting rights of any relevant securities under any option; or
(ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
None

(c) Attachments

Is a Supplemental Form 8 (Open Positions) attached? NO

Date of disclosure: 11/11/2026
Contact name: Molly Childs
Telephone number: +44 20 7144 3714

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

FORM 8.5 (EPT/RI)

PUBLIC DEALING DISCLOSURE BY AN EXEMPT PRINCIPAL TRADER WITH RECOGNISED INTERMEDIARY STATUS DEALING IN A CLIENT-SERVING CAPACITY
Rule 8.5 of the Takeover Code (the “Code”)

1.        KEY INFORMATION

(a)        Name of exempt principal trader: Investec Bank Plc
(b)        Name of offeror/offeree in relation to whose relevant securities this form relates:
        Use a separate form for each offeror/offeree
Advanced Medical Solutions Group Plc
(c)        Name of the party to the offer with which exempt principal trader is connected: Investec is Advisor & Joint Broker to Advanced Medical Solutions Group plc
(d)        Date dealing undertaken: 10th November 2026
(e)        In addition to the company in 1(b) above, is the exempt principal trader making disclosures in respect of any other party to this offer?
        If it is a cash offer or possible cash offer, state “N/A”
N/A

2.        DEALINGS BY THE EXEMPT PRINCIPAL TRADER

Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(b), copy table 2(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

The currency of all prices and other monetary amounts should be stated.

(a)        Purchases and sales

Class of relevant security Purchases/ sales Total number of securities Highest price per unit paid/received Lowest price per unit paid/received
Ordinary shares Purchase 269,491 282.75 282.556

(b)        Cash-settled derivative transactions

Class of relevant security Product description
e.g. CFD
Nature of dealing
e.g. opening/closing a long/short position, increasing/reducing a long/short position
Number of reference securities Price per unit
N/A N/A N/A N/A N/A

(c)        Stock-settled derivative transactions (including options)

(i)        Writing, selling, purchasing or varying

Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type
e.g. American, European etc.
Expiry date Option money paid/ received per unit
N/A N/A N/A N/A N/A N/A N/A N/A

(ii)        Exercise

Class of relevant security Product description
e.g. call option
Exercising/ exercised against Number of securities Exercise price per unit
N/A N/A N/A N/A N/A

(d)        Other dealings (including subscribing for new securities)

Class of relevant security Nature of dealing
e.g. subscription, conversion
Details Price per unit (if applicable)
N/A N/A N/A N/A

3.        OTHER INFORMATION

(a)        Indemnity and other dealing arrangements

Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the exempt principal trader making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”
None

(b)        Agreements, arrangements or understandings relating to options or derivatives

Details of any agreement, arrangement or understanding, formal or informal, between the exempt principal trader making the disclosure and any other person relating to:
(i)        the voting rights of any relevant securities under any option; or
(ii)        the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
If there are no such agreements, arrangements or understandings, state “none”
None

Date of disclosure: 11th November 2026
Contact name: Abhishek Gawde
Telephone number: +91- 9923757332

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s dealing disclosure requirements on +44 (0)20 7638 0129.

The Code can be viewed on the Panel’s website at ssssssswwww.thetakeoverpanel.org.uk.

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