Tag: GlobeNewswire

GAAP Net Loss of $0.07 Per Diluted Share for the Third Quarter

FFO, As Adjusted of $0.16 Per Diluted Share for the Third Quarter 

Raises Full Year 2026 FFO, As Adjusted Guidance to $0.57 to $0.59 Per Diluted Share

Office Same Store NOI Growth of 5.2% (Cash)
Positive Office New Lease Spreads of 22.8% (GAAP) and 23.3% (Cash)

Retail Same Store NOI Growth of 6.8% (Cash)
Positive Retail Renewal Spreads of 11.6% (GAAP) and 5.8% (Cash)

VIRGINIA BEACH, Va., Nov. 02, 2026 (GLOBE NEWSWIRE) — AH Realty Trust (NYSE: AHRT) today announced its results for the quarter ended September 30, 2026 and provided an update on current events and earnings guidance.

Third Quarter and Recent Highlights:

• Raised full-year 2026 FFO, as Adjusted by 11.5% from original guidance to $0.57 to $0.59 per diluted share, driven by continued NOI growth across the retail and mixed-use office portfolio, debt paydowns from closing the Multifamily Portfolio Sale First Closing sooner than anticipated, and the accretive impact of the Company’s share repurchase activity. Portfolio performance was highlighted by:
  • Better than anticipated office leasing activity and spreads
  • Sooner than expected retail tenant openings and rent commencements
  • Higher than anticipated percentage rent from retail tenants
  • OpEx savings resulting from successful real estate tax appeals
  • Lower than anticipated bad debt
• On October 28, 2026, the Company refinanced the loan secured by the Constellation Energy Building, extending the maturity date to October 28, 2029.
• On October 28, 2026, the Company recast its credit facilities, including the M&T term loan facility and the TD Bank term loan facility, which is now comprised of the following: a $150.0 million revolving credit facility with a 5 year maturity, a $200.0 million term loan with a 4 year maturity, and a $200.0 million term loan with a 5 year maturity. As part of the recast, we reduced the borrowing capacity of the revolving credit facility to better align its capacity with our anticipated business and liquidity needs. The Company also entered into a $100.0 million term loan with a 7 year term. The recast credit facility includes an accordion feature that allows the total commitments to be increased to $1.0 billion, subject to certain conditions, including obtaining commitments from any one or more lenders. The recasting is intended to simplify the Company’s capital structure and extend maturities. The terms and covenants remain materially similar to those in the previous facilities.
• On October 30, 2026, the Company sold The Everly and Solis Gainesville II multifamily assets, for a purchase price of $95.5 million.
• On October 29, 2026, the Solis Kennesaw real estate financing investment was fully redeemed for $15.7 million.

“With the transformation of AH Realty Trust now substantially complete, we are a simpler, stronger company, and our third quarter results reflect that,” said Shawn Tibbetts, Chairman, President and Chief Executive Officer. “Our retail and mixed-use office portfolio continues to perform ahead of our expectations, with same store cash NOI up 6.8% in retail and 5.2% in office. We have also reduced debt by nearly $500 million this year and recast our credit facility, giving us a stronger, more flexible balance sheet with no material maturities until 2029. Given that performance and our visibility into the coming quarters, we are again raising our full-year guidance. As we enter 2027, our focus is on driving organic NOI growth from the portfolio we own today, where meaningful upside is already embedded.”

Third Quarter and Recent Highlights Continued: 

• During the quarter ended September 30, 2026, the Company repurchased 0.8 million shares of common stock for $4.9 million  at an average cost of $6.25 per share, bringing the total for the year to 6.4 million shares repurchased for a total cost of $38.2 million, at an average cost of $5.96 per share.
• Net loss available to common stockholders and OP Unitholders of $6.6 million, or $0.07 per diluted share, compared to net loss available to common stockholders and OP Unitholders of $3.6 million, or $0.04 per diluted share, for the three months ended September 30, 2025. 
• Funds from operations available to common stockholders and OP Unitholders (“FFO”) of $15.2 million, or $0.16 per diluted share, compared to $20.2 million, or $0.20 per diluted share, for the three months ended September 30, 2025. See “Non-GAAP Financial Measures.” 
• FFO, As Adjusted available to common stockholders and OP Unitholders (“FFO, As Adjusted”) of $15.3 million, or $0.16 per diluted share, compared to $17.0 million, or $0.17 per diluted share, for the three months ended September 30, 2025. See “Non-GAAP Financial Measures.” 
• As of September 30, 2026, weighted average stabilized portfolio leased occupancy was 95.7%. Retail leased occupancy was 95.0% and office leased occupancy was  96.6%.
• As of September 30, 2026, weighted average stabilized portfolio economic occupancy was 90.3%. Retail economic occupancy increased 0.1% to 91.0%, reducing the spread to leased occupancy by 0.3%. Office economic occupancy was  89.6%.
• Executed 14 retail lease renewals and 2 new leases during the third quarter for an aggregate of 86,803 net rentable square feet. Positive spreads on both new leases and renewals:
  • New leasing spreads of 27.5% (GAAP) and 16.5% (Cash).
  • Renewal leasing spreads of 11.6% (GAAP) and 5.8% (Cash).
• Executed 2 office lease renewals and 4 new leases during the third quarter for an aggregate of 29,574 net rentable square feet. Positive spreads on both new leases and renewals.
  • New leasing spreads of 22.8% (GAAP) and 23.3% (Cash).
  • Renewal leasing spreads of 12.4% (GAAP) and 1.5% (Cash).
• Same Store Net Operating Income (“NOI”) on a cash basis increased 6.8% for the retail segment and 5.2% for the office segment compared to the quarter ended September 30, 2025.
• During the third quarter of 2026, unrealized losses on non-designated interest rate derivatives that negatively affected FFO were $0.9 million. As of September 30, 2026, the value of the Company’s entire interest rate derivative portfolio, net of unrealized losses, was $5.4 million.

Financial Results

Net loss available to common stockholders and OP Unitholders for the third quarter of 2026 was $6.6 million compared to net loss available to common stockholders and OP Unitholders of $3.6 million for the third quarter of 2025. The period-over-period change was driven by a $2.1 million decrease in interest expense following $456.0 million of debt repayments in the second quarter (net of additional borrowings) with proceeds from the first closing of the multifamily portfolio sale (the “Multifamily Portfolio Sale First Closing”), partially offset by impairment recognized of $3.4 million in our multifamily portfolio, all of which was related to our Gainesville, GA assets.

FFO available to common stockholders and OP Unitholders for the third quarter of 2026 was $15.2 million compared to $20.2 million for the third quarter of 2025. The period-over-period decrease in FFO was primarily due to the $2.2 million decrease in real estate financing segment gross profit as a result of disposing of the majority of the portfolio, and Solis Kennesaw being placed on non-accrual status, and a $2.1 million decrease in general contracting and real estate services gross profit as a result of the disposition in the second quarter. There was also a $2.1 million decrease in interest expense, partially offset by an increase in stock compensation and information technology costs.

FFO, As Adjusted available to common stockholders and OP Unitholders for the third quarter of 2026 decreased to $15.3 million compared to $17.0 million for the third quarter of 2025. The year-over-year decrease in FFO, As Adjusted was primarily due to reduced termination fees in the current year and increased stock compensation and information technology costs, partially offset by decreased interest expense due to approximately $456.0 million of debt repayments (net of additional borrowings) as a result of the Multifamily Portfolio Sale First Closing in the second quarter.

Operating Performance

At the end of the third quarter of 2026, the Company’s retail and office weighted average stabilized operating property portfolio leased occupancy were 95.0% and 96.6%, respectively, and weighted average stabilized portfolio economic occupancy were 91.0% and 89.6%.

Balance Sheet and Financing Activity

As of September 30, 2026, the Company had $1.0 billion of total debt outstanding, including $19.0 million outstanding under its revolving credit facility. Total debt outstanding excludes GAAP adjustments and deferred financing costs. As of September 30, 2026, the Company’s debt was 61.4% fixed or economically hedged after considering interest rate swaps.

On October 28, 2026, the Company refinanced the non-recourse loan secured by the Constellation Energy Building, extending the maturity date to October 28, 2029, and simultaneously executed a swap to fix the rate at 6.36%.

On October 28, 2026, the Company recast its credit facilities, including the M&T term loan facility and the TD Bank term loan facility, and executed swaps to hedge the newly structured term loans at a weighted average rate of 4.93%. The recasting is intended to simplify the Company’s capital structure and extend maturities. The terms and covenants remain materially similar to those in the previous facilities.

Following the dispositions of The Everly and Solis Gainesville II, the redemption of Solis Kennesaw, and the expected disposition of Greenside Apartments in November 2026, these new refinancing arrangements and swap agreements will result in an increase to 100% fixed or economically hedged debt.

Outlook

The Company raised its 2026 full-year FFO, As Adjusted guidance range to $0.57 to $0.59 per diluted share. The following table updates the Company’s assumptions underpinning its full-year guidance. The Company’s executive management will provide further details regarding its 2026 earnings guidance during tomorrow’s webcast and conference call.

Full-year 2026 Guidance (1)		Expected Ranges
		Low			High
RETAIL NOI		$70.3M			$71.5M
OFFICE NOI		60.2M			61.4M
EQUITY METHOD INVESTMENT (“EMI”) PROPERTY INCOME(2)		3.6M			4.0M
ACQUISITION NOI		0.0M			0.0M
TOTAL COMMERCIAL NOI		$134.1M			$136.9M
G&A EXPENSES		-20.0M			-19.0M
INTEREST EXPENSE		-55.6M			-54.6M
OTHER NOI(3)		8.0M			9.0M
PREFERRED STOCK DIVIDENDS		-11.5M			-11.5M
FUNDS FROM OPERATIONS, AS ADJUSTED (“FFO, AS ADJUSTED”)(4)		$56.3M			$58.3M
FFO, AS ADJUSTED PER DILUTED SHARE		$0.57			$0.59

⁽¹⁾ Includes the following assumptions:

• Revised 2026 Same-Store NOI Cash growth ranges:
  • Retail 2.50% – 3.50%
  • Office 3.00% – 4.00%
• Disposition of the Multifamily Portfolio, with the exception of Smith’s Landing
• Exit of the remaining Real Estate Financing Portfolio
• Remaining Secured Debt Paydowns of ~$57M with proceeds from the disposition of The Everly and expected disposition of Greenside
• Remaining Net Unsecured Debt Paydowns of ~$100M in 2026
• Includes Share Repurchases of 6.4M shares for $38.2M through September 30, 2026
• No Acquisitions in 2026

⁽²⁾ Includes T. Rowe Price Global HQ. EMI property income is reflected as the property’s NOI less interest expense, times the Company’s ownership percentage (50%).
⁽³⁾ Other income includes NOI from Smith’s Landing and NOI from parking income.
⁽⁴⁾ Ranges exclude certain items per the Company’s FFO, As Adjusted definition. FFO, As Adjusted is a forward-looking, non-GAAP measure that presents the Company’s projected Funds From Operations as adjusted for certain items that the Company believes are not indicative of its ongoing operating performance, including: (i) estimated income and expenses associated with assets held for sale or under LOI; and (ii) estimates of certain non-recurring transaction costs. The Company presents FFO, As Adjusted to provide investors with a supplemental measure of the Company’s anticipated operating performance following the completion of its announced strategic initiatives, but investors are cautioned against placing undue reliance on the Company’s presentation of FFO, As Adjusted. See “Non-GAAP Financial Measures.” The Company does not provide a reconciliation for its guidance range of FFO, As Adjusted or FFO, As Adjusted per diluted share to net income or net income per diluted share, the most directly comparable forward-looking GAAP financial measures, because it is unable to provide a meaningful or accurate estimate of reconciling items and the information is not available without unreasonable effort as a result of the inherent difficulty of forecasting the timing and/or amounts of various items that would impact net income per diluted share. For the same reasons, the Company is unable to address the probable significance of the unavailable information and believes that providing a reconciliation for its guidance range of FFO, As Adjusted and FFO, As Adjusted per diluted share would imply a degree of precision for its forward-looking net income per diluted share that could be misleading to investors.

Supplemental Financial Information

Further details regarding operating results, properties, and leasing statistics can be found in the Company’s supplemental financial package available on the Investors page at AHRealtyTrust.com.

Webcast and Conference Call

The Company will host a webcast and conference call on Tuesday, November 3, 2026 at 8:30 a.m. Eastern Time to review financial results and discuss recent events. The recorded webcast will be available through the Investors page of the Company’s website, AHRealtyTrust.com. To participate in the call, please dial (+1) 833 461 5787 (toll-free dial-in number) or (+1) 585 542 9983 (toll dial-in number). The conference ID is 984 437 291. A telephonic replay will be available shortly after the conclusion of the call through Tuesday, December 1, 2026. This replay may be accessed by dialing (+1) 833 309 1852 and providing passcode 984 437 291#. A replay of the webcast will also be available for 30 days beginning approximately two hours after the conclusion of the conference call.

About AH Realty Trust

AH Realty Trust is a pure-play, high-quality retail and mixed-use office REIT focused on identifying and realizing dominant market competitive advantages throughout the Sunbelt, mid-Atlantic and Southeast. Our company is primarily comprised of and focused on open-air shopping centers and mixed-use ecosystems within our markets.

Forward-Looking Statements

Certain matters within this press release are discussed using forward-looking language as specified in the Private Securities Litigation Reform Act of 1995, and, as such, may involve known and unknown risks, uncertainties and other factors that may cause the actual results or performance to differ from those projected in the forward-looking statement. These forward-looking statements may include comments relating to the current and future performance of the Company’s operating property portfolio, the Company’s development pipeline, financing activities, as well as acquisitions, dispositions, and the Company’s financial outlook, guidance, and expectations. Forward-looking statements depend on assumptions, data or methods which may be incorrect or imprecise, and the Company may not be able to realize any forward-looking statement. For a description of factors that may cause the Company’s actual results or performance to differ from its forward-looking statements, please review the information under the heading “Risk Factors” included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, and the other documents filed by the Company with the Securities and Exchange Commission from time to time. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statement contained herein, to reflect any change in the Company’s expectations with regard thereto, or any other change in events, conditions, or circumstances on which any such statement is based, except to the extent otherwise required by applicable law.

Non-GAAP Financial Measures

The Company calculates FFO in accordance with the standards established by the National Association of Real Estate Investment Trusts (“Nareit”). Nareit defines FFO as net income (loss) (calculated in accordance with GAAP), excluding depreciation and amortization related to real estate, gains or losses from the sale of certain real estate assets, gains and losses from change in control, and impairment write-downs of certain real estate assets and investments in entities when the impairment is directly attributable to decreases in the value of depreciable real estate held by the entity.

FFO is a supplemental non-GAAP financial measure. The Company uses FFO as a supplemental performance measure because it believes that FFO is beneficial to investors as a starting point in measuring the Company’s operational performance. Specifically, in excluding real estate related depreciation and amortization and gains and losses from property dispositions, which do not relate to or are not indicative of operating performance, FFO provides a performance measure that, when compared period-over-period, captures trends in occupancy rates, rental rates, and operating costs. We also believe that, as a widely recognized measure of the performance of REITs, FFO will be used by investors as a basis to compare the Company’s operating performance with that of other REITs.

However, because FFO excludes depreciation and amortization and captures neither the changes in the value of the Company’s properties that result from use or market conditions nor the level of capital expenditures and leasing commissions necessary to maintain the operating performance of the Company’s properties, all of which have real economic effects and could materially impact the Company’s results from operations, the utility of FFO as a measure of the Company’s performance is limited. In addition, other equity REITs may not calculate FFO in accordance with the Nareit definition as the Company does, and, accordingly, the Company’s FFO may not be comparable to such other REITs’ FFO. Accordingly, FFO should be considered only as a supplement to net income as a measure of the Company’s performance. FFO should not be used as a measure of our liquidity, nor is it indicative of funds available to fund our cash needs, including our ability to pay dividends or service indebtedness. Also, FFO should not be used as a supplement to or substitute for cash flow from operating activities computed in accordance with GAAP.

Management also believes that the computation of FFO in accordance with Nareit’s definition includes certain items that are not indicative of the results provided by the Company’s operating property portfolio and affect the comparability of the Company’s period-over-period performance. Accordingly, management believes that FFO, As Adjusted is a more useful performance measure that excludes income or loss from discontinued operations related to general contracting and real estate services, multifamily, and real estate financing. Other equity REITs may not calculate FFO, As Adjusted in the same manner as we do, and, accordingly, our FFO, As Adjusted may not be comparable to such other REITs’ FFO, As Adjusted.

NOI is the measure used by the Company’s chief operating decision-maker to assess segment performance. The Company calculates NOI as segment revenues less segment expenses. Segment revenues include rental revenues (base rent, expense reimbursements, termination fees, and other revenue) for our property segments. Segment expenses include rental expenses and real estate taxes for our property segments. NOI is not a measure of operating income or cash flows from operating activities as measured in accordance with GAAP and is not indicative of cash available to fund cash needs. As a result, NOI should not be considered an alternative to cash flows as a measure of liquidity. Not all companies calculate NOI in the same manner. The Company considers NOI to be an appropriate supplemental measure to net income because it assists both investors and management in understanding the core operations of the Company’s retail and office real estate businesses. To calculate NOI on a cash basis, we adjust NOI to exclude the net effects of straight line rent and the amortization of lease incentives and above/below market rents.

For reference, as an aid in understanding the Company’s computation of NOI, NOI Cash Basis, FFO, and FFO, As Adjusted, a reconciliation of net income calculated in accordance with GAAP to NOI, NOI Cash Basis, FFO, and FFO, As Adjusted has been included further in this release.

AH Realty Trust CONDENSED CONSOLIDATED BALANCE SHEETS (dollars in thousands)
		September 30, 2026				December 31, 2025
		(UNAUDITED)
ASSETS
Real estate investments:
Income producing property		$	1,791,169			$	1,801,279
Held for development			—				5,683
Construction in progress			13,109				13,028
			1,804,278				1,819,990
Accumulated depreciation			(436,065	)			(410,565	)
Net real estate investments			1,368,213				1,409,425
Real estate investments held for sale, net			—				4,800
Assets of discontinued operations held for sale			181,977				800,536
Cash and cash equivalents			27,215				40,743
Restricted cash			1,694				1,622
Accounts receivable, net			62,994				64,747
Notes receivable, net			7,866				—
Equity method investments			57,782				47,926
Operating lease right-of-use assets			22,430				22,610
Finance lease right-of-use assets			76,557				77,539
Acquired lease intangible assets			66,853				76,408
Other assets			43,593				50,154
Total Assets		$	1,917,174			$	2,596,510
LIABILITIES AND EQUITY
Indebtedness, net		$	953,533			$	1,283,987
Liabilities of discontinued operations held for sale			78,435				286,502
Accounts payable and accrued liabilities			30,665				36,810
Operating lease liabilities			31,073				31,198
Finance lease liabilities			85,451				84,835
Other liabilities			45,015				43,986
Total Liabilities			1,224,172				1,767,318
Total Equity			693,002				829,192
Total Liabilities and Equity		$	1,917,174			$	2,596,510

AH Realty Trust CONDENSED CONSOLIDATED INCOME STATEMENTS (in thousands)
		Three Months Ended September 30,								Nine Months Ended September 30,
		2026				2025				2026				2025
		(Unaudited)
Revenues
Rental revenues		$	52,323			$	53,108			$	157,188			$	154,010
Total revenues			52,323				53,108				157,188				154,010
Expenses
Rental expenses			12,402				12,092				37,699				34,590
Real estate taxes			4,784				4,760				14,316				14,533
Depreciation and amortization			18,246				17,907				54,389				53,598
General and administrative expenses			5,167				4,154				14,885				15,529
Acquisition, development, and other pursuit costs			—				1				16				84
Impairment charges			—				295				1,894				295
Total expenses			40,599				39,209				123,199				118,629
Loss on real estate dispositions, net			—				—				(854	)			—
Operating income			11,724				13,899				33,135				35,381
Interest income			277				71				573				563
Interest expense			(13,141	)			(15,256	)			(41,045	)			(42,975	)
Equity in income (loss) of unconsolidated real estate entities			193				38				770				(1,198	)
Gain on consolidation of real estate entities			—				—				—				3,920
Loss on extinguishment of debt			—				(36	)			(523	)			(36	)
Change in fair value of derivatives and other			477				(920	)			2,439				(981	)
Unrealized credit loss release (provision)			15				—				(81	)			242
Other income (expense), net			188				—				204				(86	)
Loss from continuing operations			(267	)			(2,204	)			(4,528	)			(5,170	)
Discontinued operations
(Loss) income from discontinued operations			(3,339	)			1,657				(47,136	)			6,620
Income tax (provision) benefit from discontinued operations			—				(192	)			(3,359	)			185
(Loss) income from discontinued operations, net of taxes			(3,339	)			1,465				(50,495	)			6,805
Net (loss) income			(3,606	)			(739	)			(55,023	)			1,635
Net (income) loss available to noncontrolling interests in investment entities			(129	)			51				(394	)			131
Preferred stock dividends			(2,887	)			(2,887	)			(8,661	)			(8,661	)
Net loss available to common stockholders and OP Unitholders		$	(6,622	)		$	(3,575	)		$	(64,078	)		$	(6,895	)

AH Realty Trust RECONCILIATION OF NET (LOSS) INCOME TO FFO & FFO, AS ADJUSTED (in thousands, except per share amounts)
		Three Months Ended  September 30,								Nine Months Ended September 30,
		2026				2025				2026				2025
		(Unaudited)
Net loss available to common stockholders and OP Unitholders		$	(6,622	)		$	(3,575	)		$	(64,078	)		$	(6,895	)
Depreciation and amortization, net(1)			18,657				23,395				63,241				69,774
Gain on consolidation of real estate entities			—				—				—				(6,915	)
Gain on operating real estate dispositions, net(2)			(251	)			—				(16,868	)			—
Impairment of real estate assets(3)			3,442				350				68,934				350
FFO available to common stockholders and OP Unitholders		$	15,226			$	20,170			$	51,229			$	56,314
FFO available to general contracting and real estate services			—				(2,240	)			3,650				(4,004	)
FFO available to multifamily			(342	)			636				(3,284	)			(1,750	)
FFO available to real estate financing			435				(1,598	)			(7,112	)			(5,208	)
FFO, As Adjusted available to common stockholders and OP Unitholders		$	15,319			$	16,968			$	44,483			$	45,352
Net loss available to common stockholders and OP Unitholders per diluted share and unit		$	(0.07	)		$	(0.04	)		$	(0.65	)		$	(0.07	)
FFO available to common stockholders and OP Unitholders per diluted share and unit		$	0.16			$	0.20			$	0.52			$	0.55
FFO, As Adjusted available to common stockholders and OP Unitholders per diluted share and unit		$	0.16			$	0.17			$	0.45			$	0.44
Weighted-average common shares and units – diluted			97,293				102,093				99,093				102,093

________________________________________
(1) The adjustment for depreciation and amortization excludes amortization of above and below-market ground lease assets. The adjustment for depreciation and amortization for the three and nine months ended September 30, 2026 excludes $0.2 million and $0.7 million, respectively, of depreciation attributable to our partners. The adjustment for depreciation and amortization for the three and nine months ended September 30, 2025 excludes $0.2 million and $0.7 million, respectively, of depreciation attributable to our partners.
(2) The adjustment for gain on operating real estate dispositions for the nine months ended September 30, 2026 excludes $0.2 million for the loss on the disposition of a non-operating parcel of undeveloped land under predevelopment. The adjustment for gain on operating real estate dispositions for the three and nine months ended September 30, 2026 includes the $2.2 million loss on disposition of the general contracting and real estate services business.
(3) Impairment recognized for the three months ended September 30, 2026 represents impairment of the multifamily properties Solis Gainesville II and The Everly. Impairment recognized for the nine months ended September 30, 2026 represents impairment related to (i) the multifamily assets, Greenside Apartments, The Everly, and Solis Gainesville II, (ii) the real estate financing investments Solis Kennesaw, Solis Peachtree, and Solis North Creek, and (iii) development projects that management has determined are no longer probable of execution and no longer intends to pursue.

AH Realty Trust RECONCILIATION OF NET (LOSS) INCOME TO SAME STORE NOI, CASH BASIS (in thousands) (unaudited)
		Three Months Ended  September 30,								Nine Months Ended September 30,
		2026				2025				2026				2025
Retail Same Store (1)
Same Store NOI, Cash Basis		$	16,950			$	15,876			$	50,097			$	48,135
GAAP Adjustments (2)			446				1,294				2,759				3,682
Same Store NOI			17,396				17,170				52,856				51,817
Non-Same Store NOI (3)			397				1,031				462				1,493
Segment NOI			17,793				18,201				53,318				53,310
Office Same Store (4)
Same Store NOI, Cash Basis			13,635				12,961				40,363				38,539
GAAP Adjustments (2)			1,843				2,429				5,112				6,288
Same Store NOI			15,478				15,390				45,475				44,827
Non-Same Store NOI (3)			(157	)			620				(88	)			742
Segment NOI			15,321				16,010				45,387				45,569
Other NOI			2,023				2,045				6,468				6,008
Total Property NOI			35,137				36,256				105,173				104,887
Depreciation and amortization			(18,246	)			(17,907	)			(54,389	)			(53,598	)
General and administrative expenses			(5,167	)			(4,154	)			(14,885	)			(15,529	)
Acquisition, development, and other pursuit costs			—				(1	)			(16	)			(84	)
Impairment charges			—				(295	)			(1,894	)			(295	)
Loss on real estate dispositions, net			—				—				(854	)			—
Interest income			277				71				573				563
Interest expense			(13,141	)			(15,256	)			(41,045	)			(42,975	)
Equity in income (loss) of unconsolidated real estate entities			193				38				770				(1,198	)
Gain on consolidation of real estate entities			—				—				—				3,920
Loss on extinguishment of debt			—				(36	)			(523	)			(36	)
Change in fair value of derivatives and other			477				(920	)			2,439				(981	)
Unrealized credit loss release (provision)			15				—				(81	)			242
Other income (expense), net			188				—				204				(86	)
Loss from continuing operations			(267	)			(2,204	)			(4,528	)			(5,170	)
Discontinued operations
(Loss) income from discontinued operations			(3,339	)			1,657				(47,136	)			6,620
Income tax (provision) benefit from discontinued operations			—				(192	)			(3,359	)			185
(Loss) income from discontinued operations, net of taxes			(3,339	)			1,465				(50,495	)			6,805
Net (loss) income			(3,606	)			(739	)			(55,023	)			1,635
Net (income) loss available to noncontrolling interests in investment entities			(129	)			51				(394	)			131
Preferred stock dividends			(2,887	)			(2,887	)			(8,661	)			(8,661	)
Net loss available to common stockholders and OP Unitholders		$	(6,622	)		$	(3,575	)		$	(64,078	)		$	(6,895	)

________________________________________
(1) Retail same-store portfolio for the three and nine months ended September 30, 2026 and September 30, 2025 excludes Allied | Harbor Point Retail, Liberty Retail, Point Street Retail, The Edison Retail, and Chronicle Mill Retail, which were sold in May 2026 as part of the Multifamily Portfolio Sale First Closing. They also exclude Southern Post Retail, which reached stabilization in Q3 2026.
(2) GAAP Adjustments include adjustments for the net effects of straight-line rental revenues, the amortization of lease incentives and above/below market rents, the net effects of straight-line rental expenses, and ground rent expenses for finance leases.
(3) Includes expenses associated with the Company’s in-house asset management division.
(4) Office same-store portfolio for the three and nine months ended September 30, 2026 and 2025 excludes Chronicle Mill Office, which was sold in May 2026 as part of the Multifamily Portfolio Sale First Closing, and Southern Post Office, which is not yet stabilized.

Contact:

Chelsea Forrest
AH Realty Trust
Executive Vice President of Investor Relations and Administration
Email: Chelsea.Forrest@AHRealtyTrust.com
Phone: (757) 612-4248 

CAMBRIDGE, Mass., Nov. 02, 2026 (GLOBE NEWSWIRE) — Spero Therapeutics, Inc. (Nasdaq: SPRO), a clinical-stage biopharmaceutical company focused on advancing next-generation medicines in immune-mediated diseases, today announced that Esther Rajavelu, President and Chief Executive Officer, will participate in a “fireside chat” at the Guggenheim 3rd Annual Healthcare Innovation Conference in Boston, MA. The company’s leadership team will be available for one-on-one meetings with investors. The team will also participate in the Jefferies Global Healthcare Conference in London, UK where they will be available for meetings with investors.

Guggenheim 3rd Annual Healthcare Innovation Conference
Date:	Tuesday, November 10
Time:	10:30 AM ET
Location:	Boston, MA
Webcast Link:	click here

Jefferies Global Healthcare Conference
Dates:	November 18-19
Location:	London, UK

To request a meeting with management please reach out to your institutional contact at the respective conference.

About Spero Therapeutics

Spero Therapeutics is a clinical-stage biopharmaceutical company focused on advancing next-generation medicines for patients with serious immune-mediated diseases. The company’s lead program, SP001, is a third-generation, Fc-silent anti-CD40L monoclonal antibody being advanced first in IgG4-related disease, with potential for development in additional immunological & inflammatory diseases. For more information, visit www.sperotx.com.

Investor Relations Contact:
Shai Biran, PhD
Spero Therapeutics
IR@Sperotx.com

Media Inquiries:
media@sperotx.com

WARSAW, Ind., Nov. 02, 2026 (GLOBE NEWSWIRE) — OrthoPediatrics Corp. (“OrthoPediatrics” or the “Company”) (Nasdaq: KIDS), a company focused exclusively on advancing the field of pediatric orthopedics, today announced that it will participate in two upcoming investor conferences, held in New York, NY.

Event: Stifel 2026 Healthcare Conference
Format: Fireside Chat
Date: Wednesday, November 11, 2026
Time: 10:00 am ET

Event: Piper Sandler 38^th Annual Healthcare Conference
Format: Fireside Chat
Date: Wednesday, December 2, 2026
Time: 4:00 pm ET

An audio webcast of the discussions will be available online at the OrthoPediatrics’ investor relations website, http://ir.orthopediatrics.com. Additionally, a replay will be available after the events.

About OrthoPediatrics Corp.
Founded in 2006, OrthoPediatrics is an orthopedic company focused exclusively on advancing the field of pediatric orthopedics. As such, it has developed the most comprehensive product offering to the pediatric orthopedic market to improve the lives of children with orthopedic conditions. OrthoPediatrics currently markets over 95 systems that serve three of the largest categories within the pediatric orthopedic market. This product offering spans trauma and deformity, scoliosis, and sports medicine/other procedures. OrthoPediatrics’ global sales organization is focused exclusively on pediatric orthopedics and distributes its products in the United States and over 75 countries outside the United States. For more information, please visit www.orthopediatrics.com. For more information about the OrthoPediatrics Specialty Bracing portfolio, please visit www.opsb.com.

Investor Contact
Philip Trip Taylor
Gilmartin Group
philip@gilmartinir.com 
415-937-5406

Company to Host Conference Call and Webcast at 8:30 AM ET on November 3, 2026

Disciplined Portfolio Management and Selective Capital Deployment, Supported by a Growing Pipeline of Differentiated Investment Opportunities

Net Investment Income (“NII”) of $0.17 Per Share in 3Q26

NAV of $7.40 Per Share as of September 30, 2026

Strong Liquidity Position with Approximately $6 Million of Cash and Equivalents, $44 Million of Revolving Credit Facility Availability, and Ample Liquid Assets as of September 30, 2026

Redeemed $6.5 Million of GECCI Notes due April 2029, Retiring a Portion of Highest Cost and Nearest Term Debt

Year-to-Date through October 30, 2026, Repurchased Approximately 350,000 Shares at a 33% Discount to NAV on September 30, 2026

Board Declares $0.25 Per Share Distribution for 4Q26, Resulting in an Annualized Dividend Yield of 20.2% on GECC’s Closing Price as of October 30, 2026

PALM BEACH GARDENS, Fla., Nov. 02, 2026 (GLOBE NEWSWIRE) — Great Elm Capital Corp. (“we,” “our,” the “Company” or “GECC”) (NASDAQ: GECC), a business development company, today announced its financial results for the third quarter ended September 30, 2026.

Management Commentary

Jason Reese, Chairman of the Board of Directors and Chief Executive Officer of the Company, stated: “Our third quarter results reflect a challenging credit environment and continued pressure on certain portfolio investments, particularly our CLO joint venture. While net investment income and NAV declined during the quarter, we remain focused on strengthening portfolio performance, maintaining disciplined underwriting standards and positioning GECC for more consistent earnings and long-term value creation. 

“We made meaningful progress advancing our investment strategy during the quarter, expanding our pipeline of private investment opportunities and further diversifying the portfolio. We continue to emphasize credit quality, attractive risk-adjusted returns and durable cash income, while leveraging our institutional relationships to access differentiated opportunities across private credit and select equity investments. Importantly, our underlying credit portfolio remains healthy. We also saw positive momentum across our specialty finance platform, with distributions from Great Elm Specialty Finance increasing meaningfully during the quarter. 

“We remain actively engaged with our CLO partners to address performance and identify opportunities to enhance the value of those investments. At the same time, we continue to manage our balance sheet proactively, reducing our highest-cost debt while maintaining substantial liquidity and financial flexibility. We also repurchased shares at a significant discount to NAV, reflecting our confidence in the long-term value of our portfolio and our commitment to disciplined capital allocation.

“Looking ahead, we believe our growing pipeline of differentiated investments, strong liquidity position and continued focus on portfolio optimization provide a solid foundation for improving earnings performance and creating long-term shareholder value.”

Recent Board Actions and Shareholder Returns

• The Company’s Board of Directors approved a quarterly dividend of $0.25 per share for the fourth quarter of 2026, equating to a 20.2% annualized yield on GECC’s October 30, 2026, closing price of $4.95.
• From July 1, 2026, through October 30, 2026, the Company repurchased 241,235 shares for approximately $1.2 million, at an average price of $4.95 per share or a 33% discount to the Company’s net asset value (“NAV”) on September 30, 2026.

Third Quarter and Recent Operating Highlights

• Total investment income (“TII”) for the quarter ended September 30, 2026, was $8.7 million, as compared to $10.9 million for the quarter ended June 30, 2026.
  • The quarter-over-quarter decrease was primarily driven by a $2.0 million dividend received from the Company’s investment in insurance-related preference shares in the prior quarter.
• Net investment income (“NII”) for the quarter ended September 30, 2026, was $2.4 million, or $0.17 per share, as compared to $4.5 million, or $0.32 per share, for the quarter ended June 30, 2026.
  • The decrease in NII was primarily driven by lower TII and the reinstatement of incentive fee accruals following the waiver of such fees in the prior quarter.
• Net assets were $102.7 million, or $7.40 per share, as of September 30, 2026, as compared to $110.4 million, or $7.95 per share, as of June 30, 2026.
  • The 6.9% quarter-over-quarter decrease in net assets was primarily driven by realized and unrealized investment losses, including a $3.3 million decrease in the fair value of the CLO Formation JV investment.
• During the quarter ended September 30, 2026, GECC received $0.8 million of distributions from its CoreWeave-related equity investment, bringing total distributions to date to approximately $10.3 million, well in excess of its $6.0 million original capital investment.
• GECC’s asset coverage ratio was 166.3% as of September 30, 2026, as compared to 166.4% as of June 30, 2026.

Financial Highlights – Per Share Data

	Q3/2025				Q4/2025				Q1/2026				Q2/2026			Q3/2026
Earnings Per Share (“EPS”)	$	(1.79	)		$	(1.57	)		$	(0.05	)		$	0.46		$	(0.30	)
Net Investment Income (“NII”) Per Share	$	0.20			$	0.31			$	0.36			$	0.32		$	0.17
Net Realized and Unrealized Gains / (Losses) Per Share	$	(1.98	)		$	(1.88	)		$	(0.41	)		$	0.14		$	(0.48	)
Net Asset Value (“NAV”) Per Share	$	10.01			$	8.07			$	7.74			$	7.95		$	7.40
Distributions Paid / Declared Per Share	$	0.37			$	0.37			$	0.30			$	0.25		$	0.25

Financial Review

Total investment income for the quarter ended September 30, 2026, was $8.7 million, or $0.63 per share. Total expenses for the quarter ended September 30, 2026, were $6.3 million, or $0.46 per share, including a $0.2 million excise tax benefit.

Net realized and unrealized losses for the quarter ended September 30, 2026, were approximately $6.6 million, or ($0.48) per share.

Liquidity and Capital Resources

As of September 30, 2026, cash and money market fund investments totaled approximately $6 million. In addition, GECC had $44 million of availability on its revolving line of credit (the “Revolver”) and ample liquid assets as of September 30, 2026.

As of September 30, 2026, total debt outstanding (par value) was $154.9 million, comprised of $50.0 million 8.50% senior notes due April 2029 (NASDAQ: GECCI), $41.4 million 8.125% senior notes due December 2029 (NASDAQ: GECCH), $57.5 million 7.75% senior notes due December 2030 (NASDAQ: GECCG), and $6.0 million on the Revolver due June 2029.

Distributions

The Company’s Board of Directors has approved a quarterly cash distribution of $0.25 per share for the quarter ending December 31, 2026, to be paid from distributable earnings. The fourth quarter distribution will be payable on December 31, 2026, to stockholders of record as of December 15, 2026.

The distribution equates to a 20.2% annualized dividend yield on the Company’s closing market price of $4.95 on October 30, 2026, and a 13.5% annualized dividend yield on the Company’s September 30, 2026, NAV of $7.40 per share.

Stock Repurchase Program

The Company’s Board of Directors authorized a stock repurchase program in October 2025, whereby the Company may opportunistically repurchase up to an aggregate of $10.0 million of its outstanding common shares. From July 1, 2026, through October 30, 2026, the Company repurchased 241,235 shares for $1.2 million, at an average price of $4.95 per share. From January 1, 2026, through October 30, 2026, the Company repurchased 349,653 shares for approximately $1.7 million, at an average price of $4.96 per share or a 33% discount to the Company’s NAV on September 30, 2026, leaving approximately $8.3 million of remaining capacity under the program for future repurchases.

Conference Call and Webcast

GECC will discuss these results in a conference call at 8:30 a.m. ET on November 3, 2026.

Conference Call Details

Date/Time:	Tuesday, November 3, 2026 – 8:30 a.m. ET
Participant Dial-In Numbers:
(United States):	877-407-0789
(International):	201-689-8562

To access the call, please dial-in approximately five minutes before the start time and, when asked, provide the operator with passcode “GECC”. An accompanying slide presentation will be available via the “Events and Presentations” section of Great Elm Capital Corp.’s website here, after the issuance of the earnings release.

Webcast

The call and presentation will also be simultaneously webcast over the internet via the “Events and Presentations” section of GECC’s website or by clicking on the webcast link here.

About Great Elm Capital Corp.

GECC is an externally managed business development company that seeks to generate current income and capital appreciation by investing in debt and income generating equity securities, including investments in specialty finance businesses and CLOs. For additional information, please visit http://www.greatelmcc.com.

Cautionary Statement Regarding Forward-Looking Statements

Statements in this communication that are not historical facts are “forward-looking” statements within the meaning of the federal securities laws. These statements include statements regarding our future business plans and expectations. These statements are often, but not always, made through the use of words or phrases such as “expect,” “anticipate,” “should,” “will,” “estimate,” “designed,” “seek,” “continue,” “upside,” “potential” and similar expressions. All such forward-looking statements involve estimates and assumptions that are subject to risks, uncertainties and other factors that could cause actual results to differ materially from the results expressed in the statements. The key factors that could cause actual results to differ materially from those projected in the forward-looking statements include, without limitation: conditions in the credit markets, our expected financings and investments, including interest rate volatility, inflationary pressure, the price of GECC common stock and the performance of GECC’s portfolio and investment manager. Information concerning these and other factors can be found in GECC’s Annual Report on Form 10-K and other reports filed with the Securities and Exchange Commission. GECC assumes no obligation to, and expressly disclaims any duty to, update any forward-looking statements contained in this communication or to conform prior statements to actual results or revised expectations except as required by law. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof.

Media & Investor Contact:

Investor Relations
investorrelations@greatelmcap.com

GREAT ELM CAPITAL CORP.
STATEMENTS OF ASSETS AND LIABILITIES (unaudited)
Dollar amounts in thousands (except per share amounts)

	September 30, 2026				December 31, 2025
Assets
Investments
Non-affiliated, non-controlled investments, at fair value (amortized cost of $190,290 and $254,313, respectively)	$	155,840			$	218,381
Non-affiliated, non-controlled short-term investments, at fair value (amortized cost of $5,586 and $32,803, respectively)		5,586				32,803
Affiliated investments, at fair value (amortized cost of $25,961 and $12,379, respectively)		8,244				–
Controlled investments, at fair value (amortized cost of $106,133 and $94,683, respectively)		81,358				79,887
Total investments		251,028				331,071
Cash and cash equivalents		–				1,834
Receivable for investments sold		637				3,215
Interest receivable		2,045				2,182
Dividends receivable		1,025				1,046
Due from affiliates		73				218
Deferred financing costs		480				256
Prepaid expenses and other assets		1,418				953
Total assets	$	256,706			$	340,775
Liabilities
Notes payable (including unamortized discount of $4,091 and $5,064, respectively)	$	144,808			$	189,319
Revolving credit facility		6,000				–
Payable for investments purchased		464				33,652
Interest payable		97				64
Accrued incentive fees payable		593				2,267
Due to affiliates		1,225				1,475
Accrued expenses and other liabilities		800				1,052
Total liabilities	$	153,987			$	227,829
Commitments and contingencies (Note 7)
Net Assets
Common stock, par value $0.01 per share (100,000,000 shares authorized, 13,889,750 shares issued and outstanding and 13,998,168 shares issued and outstanding, respectively)	$	139			$	140
Additional paid-in capital		358,239				358,778
Accumulated losses		(255,659	)			(245,972	)
Total net assets	$	102,719			$	112,946
Total liabilities and net assets	$	256,706			$	340,775
Net asset value per share	$	7.40			$	8.07

GREAT ELM CAPITAL CORP.
STATEMENTS OF OPERATIONS (unaudited)
Dollar amounts in thousands (except per share amounts)

	For the Three Months Ended September 30,								For the Nine Months Ended September 30,
	2026				2025				2026				2025
Investment Income:
Interest income from:
Non-affiliated, non-controlled investments	$	3,933			$	5,907			$	13,271			$	18,869
Non-affiliated, non-controlled investments (PIK)		571				866				2,093				2,121
Affiliated investments		62				–				232				–
Affiliated investments (PIK)		13				–				149				–
Controlled investments		970				810				2,681				2,528
Total interest income		5,549				7,583				18,426				23,518
Dividend income from:
Non-affiliated, non-controlled investments		–				95				2,207				2,663
Controlled investments		2,647				1,965				7,762				9,245
Total dividend income		2,647				2,060				9,969				11,908
Other income from:
Non-affiliated, non-controlled investments		315				999				556				1,814
Non-affiliated, non-controlled investments (PIK)		183				–				183				174
Total other income		498				999				739				1,988
Total investment income	$	8,694			$	10,642			$	29,134			$	37,414
Expenses:
Management fees	$	974			$	1,253			$	3,061			$	3,803
Incentive fees		593				–				2,037				2,620
Administration fees		280				505				1,262				1,243
Custody fees		32				38				100				113
Directors’ fees		55				53				162				159
Professional services		642				587				1,743				1,470
Interest expense		3,692				5,485				11,816				14,054
Other expenses		260				50				838				665
Total expenses	$	6,528			$	7,971			$	21,019			$	24,127
Incentive fee waiver		–				–				(3,711	)			–
Net expenses	$	6,528			$	7,971			$	17,308			$	24,127
Net investment income before taxes	$	2,166			$	2,671			$	11,826			$	13,287
Excise tax	$	(208	)		$	238			$	(34	)		$	374
Net investment income	$	2,374			$	2,433			$	11,860			$	12,913
Net realized and unrealized gains (losses):
Net realized gain (loss) on investment transactions from:
Non-affiliated, non-controlled investments	$	(2,214	)		$	6,156			$	3,360			$	6,879
Affiliated investments		–				–				1				–
Realized loss on repurchase of debt		–				–				(2	)			–
Total net realized gain (loss)		(2,214	)			6,156				3,359				6,879
Net change in unrealized appreciation (depreciation) on investment transactions from:
Non-affiliated, non-controlled investments		996				(28,339	)			(842	)			(22,726	)
Affiliated investments		(744	)			–				(2,944	)			–
Controlled investments		(4,638	)			(2,262	)			(9,979	)			(6,882	)
Total net change in unrealized appreciation (depreciation)		(4,386	)			(30,601	)			(13,765	)			(29,608	)
Net realized and unrealized gains (losses)	$	(6,600	)		$	(24,445	)		$	(10,406	)		$	(22,729	)
Net increase (decrease) in net assets resulting from operations	$	(4,226	)		$	(22,012	)		$	1,454			$	(9,816	)
Earnings per share (basic and diluted):	$	(0.30	)		$	(1.79	)		$	0.10			$	(0.83	)
Weighted average shares outstanding (basic and diluted):		13,889,750				12,315,210				13,921,112				11,808,363

HOBOKEN, N.J., Nov. 02, 2026 (GLOBE NEWSWIRE) — The Hain Celestial Group, Inc. (Nasdaq: HAIN), a leading global health and wellness company whose purpose is to inspire healthier living through better-for-you brands, will release its fiscal first quarter results before the market opens on Monday, November 9, 2026. The company will host a conference call, which will be webcast, to discuss the results at 8:00 AM ET.

The webcast and accompanying presentation will be available under the Investors section of the company’s corporate website at www.hain.com. Investors and analysts can access the conference call by dialing (833) 461-5787 or (585) 542-9983 and referencing conference ID: 621428581. A webcast replay of the call will be available shortly after the conclusion of the live call and archived for one year.   

About The Hain Celestial Group, Inc.
Hain Celestial is a leading health and wellness company whose purpose is to inspire healthier living for people, communities and the planet through better-for-you brands. For more than 30 years, Hain Celestial has intentionally focused on delivering nutrition and well-being that positively impacts today and tomorrow. Headquartered in Hoboken, N.J., Hain Celestial’s products across beverages, yogurt, baby/kids and meal preparation are marketed and sold around the world. Our leading brands include Celestial Seasonings® teas, The Greek Gods® yogurt, Earth’s Best® Organic and Ella’s Kitchen® baby and kids foods, Joya® and Natumi® plant-based beverages, Hartley’s® jelly, as well as Cully & Sully®, Yorkshire Provender®, New Covent Garden® soups, among others. For more information, visit www.hain.com and LinkedIn.

Investor Relations Contact:
Investor.Relations@hain.com

Media Contact:
Justin Godley
Justin.Godley@hain.com

THORNTON, Colo., Nov. 02, 2026 (GLOBE NEWSWIRE) — MYR Group Inc. (“MYR Group”) (NASDAQ: MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced it will attend the UBS Global Industrials and Transportation investor conference. MYR Group’s Chief Executive Officer, Rick Swartz, and Chief Financial Officer, Kelly Huntington, will meet with institutional investors during the UBS Global Industrials and Transportation Conference on December 2, 2026, in Palm Beach. This event is only available to UBS clients.

About MYR Group Inc.
MYR Group is a holding company of leading, specialty electrical contractors providing services throughout the United States and Canada through two business segments: Transmission & Distribution (T&D) and Commercial & Industrial (C&I). MYR Group subsidiaries have the experience and expertise to complete electrical installations of any type and size. Through their T&D segment they provide services on electric transmission, distribution networks, substation facilities, clean energy projects, and electric vehicle charging infrastructure. Their comprehensive T&D services include design, engineering, procurement, construction, upgrade, maintenance, and repair services. T&D customers include investor-owned utilities, cooperatives, private developers, government-funded utilities, independent power producers, independent transmission companies, industrial facility owners, and other contractors. Through their C&I segment, they provide a broad range of services which include the design, installation, maintenance, and repair of commercial and industrial wiring generally for data centers, clean energy projects, airports, hospitals, hotels, commercial and industrial facilities, manufacturing plants, processing facilities, water/waste-water treatment facilities, mining facilities, intelligent transportation systems, roadway lighting, signalization, stadiums, and electric vehicle charging infrastructure. C&I customers include general contractors, commercial and industrial facility owners, government agencies, and developers. For more information, visit myrgroup.com. 

Contact
Jennifer Harper, Vice President, Investor Relations & Treasurer, MYR Group Inc., (847) 979-5835, investorinfo@myrgroup.com

WALTHAM, Mass., Nov. 02, 2026 (GLOBE NEWSWIRE) — Korsana Biosciences, Inc. (“Korsana” or the “Company”) (Nasdaq: KRSA), a biotechnology company discovering and developing novel therapies to reduce the burden of neurodegenerative diseases, today announced that management will participate in the following upcoming investor conferences.

• Guggenheim 3rd Annual Healthcare Innovation Conference: Fireside chat on Monday, November 9, 2026, at 10:00 a.m. ET in Boston, MA.
• Stifel 2026 Healthcare Conference: Fireside chat on Tuesday, November 10, 2026, at 1:20 p.m. ET in New York, NY.
• UBS Global Biopharma Conference 2026: Fireside chat on Monday, November 16, 2026, at 3:20 p.m. GMT in London, UK.
• Jefferies London Healthcare Conference: Presentation on Tuesday, November 17, 2026, at 3:00 p.m. GMT in London, UK.

Live webcasts of the presentations will be available in the Investors section of the Company’s website at https://investors.korsana.com/news-events/events-presentations. Replays of the webcasts will be archived on the Company’s website for 90 days following the events.

About Korsana Biosciences
Korsana Biosciences is committed to building best-in-class therapeutics with the goal of reducing the burden of neurodegenerative diseases for patients and caregivers. The Company’s lead program, KRSA-028, is a next-generation shuttled antibody targeting amyloid beta for the treatment of Alzheimer’s disease. KRSA-028 leverages Therapeutic Targeting (THETA™), a novel CNS shuttle technology developed in partnership with Paragon Therapeutics and designed to enable dramatically higher drug concentrations in the brain and overcome the limitations of earlier shuttle technologies. In addition, Korsana is advancing a pipeline of innovative therapies for neurodegenerative diseases. For more information, please visit www.korsana.com and follow the Company on LinkedIn.

Investor and Media Contact:
Eva Stroynowski
IR@korsana.com
Media@korsana.com

SAN DIEGO, Nov. 02, 2026 (GLOBE NEWSWIRE) — SOLV Energy, Inc. (Nasdaq: MWH) (“SOLV”), a leading provider of infrastructure services to the power industry, today announced it has completed the acquisition of ASB Energy Services (“ASB”), a Texas-based contractor specializing in substation foundations, civil construction, and battery energy storage system (BESS) infrastructure.

The acquisition strengthens SOLV’s energy infrastructure platform and expands its self-perform high-voltage construction capabilities. SOLV acquired ASB for approximately $45 million, excluding customary closing adjustments, with consideration consisting of $36 million in cash and $9 million in shares of Class A common stock. The transaction broadens SOLV’s ecosystem of services, increases its presence in Texas and other high-growth regions, and improves its ability to support customers across the power lifecycle.

Founded in 2007 and headquartered in Amarillo, Texas, ASB has established a reputation for delivering complex energy infrastructure projects safely and efficiently. The company serves customers across the data center, energy storage, renewable energy, and industrial sectors and is recognized for its experienced workforce, strong execution, and commitment to safety.

“This acquisition advances our strategy to build a diversified energy infrastructure services platform capable of supporting customers throughout the power lifecycle,” said George Hershman, Chief Executive Officer of SOLV Energy. “ASB brings proven expertise, a strong safety culture, and an experienced team that complements our existing capabilities and strengthens our ability to deliver critical energy infrastructure for customers across the country. As demand for reliable electricity continues to grow, we believe investments in generation, storage, transmission, and substation infrastructure will remain an important long-term opportunity.”

“Joining SOLV marks an exciting next chapter for our employees and customers,” said Dwayne Hoving, Founder and CEO of ASB Energy Services. “From the beginning, ASB was built around delivering high-quality work, developing our people, and creating long-term value for our customers. By becoming part of SOLV, we gain access to additional resources, broader opportunities, and a shared commitment to safety and execution excellence, while continuing to deliver the level of service our customers have come to expect.”

ASB will operate as a SOLV Energy company, retaining its leadership team, operating approach, and customer relationships. The acquisition supports SOLV’s long-term strategy to expand its energy infrastructure platform and capitalize on increasing investment driven by grid modernization, energy storage deployment, industrial growth, and rising electricity demand across the United States.

About SOLV Energy

SOLV Energy is a leading provider of infrastructure services to the power industry, including engineering, procurement, construction, testing, commissioning, operations, maintenance and repowering. Since 2008, we have built more than 500 power plants, representing 22 GW of generating capacity. SOLV Energy also provides operations and maintenance (O&M) services to 152 operating power plants, representing over 23 GW of generating capacity. In addition to EPC and O&M for utility-scale power plants and related T&D infrastructure, we offer large-scale repair, emergency response and repowering services and install end-to-end SCADA and network infrastructure solutions to maximize project performance and energy availability. To learn more, visit solvenergy.com.

Forward-Looking Statements

This press release contains forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995, which are subject to known and unknown risks, uncertainties and other important factors that may cause actual results to be materially different from the statements made herein. All statements other than statements of historical fact contained in this press release are forward-looking statements. Forward-looking statements discuss our current expectations and projections relating to our financial position, results of operations, plans, objectives, future performance and business. You can identify forward-looking statements by the fact that they do not relate strictly to any historical or current facts. You should evaluate all forward-looking statements made in this press release in the context of the risks and uncertainties disclosed herein, in our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, including “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and our other filings with the SEC, accessible on the SEC’s website at www.sec.gov and the Investors Relations section of the Company’s website at https://investors.solvenergy.com/financial-information/sec-filings. The Company assumes no responsibility to update forward-looking statements made herein or otherwise. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, our actual financial condition, results of operations, future performance and business may vary in material respects from the performance projected in these forward-looking statements.

Media Contact:
Ashley McCarthy
media@solvenergy.com

Dipti Vachani appointed as Chief Executive Officer
Signed multi-year license renewals with Charter and TCL
Reiterate confidence in long-term $600 million annual revenue outlook

SAN JOSE, Calif., Nov. 02, 2026 (GLOBE NEWSWIRE) — Adeia Inc. (Nasdaq: ADEA) (the “Company” or “Adeia”), the technology company pioneering foundational innovations that shape how the world computes, connects and experiences entertainment, today announced financial results for the third quarter ended September 30, 2026.

“I am honored to join Adeia at such an exciting time as AI is driving innovation in both media and semiconductors, and Adeia’s foundational technologies are at the heart of these trends,” said Dipti Vachani, chief executive officer of Adeia. “Our third quarter results reflected strong deal activity with eight license agreements signed across Pay-TV, consumer electronics, e-commerce and social media. Those deals included significant renewals with long-time customers Charter and TCL and four new customers during the quarter. We are on target to achieve our long-term annual revenue outlook of $600 million and we remain excited about our future.”

Vachani continued, “I want to thank the Board for their confidence in me and Paul Davis for his support during this transition. Through my nearly 30 years of experience in the semiconductor space, I have a deep understanding of the technology, the ecosystem and the barriers to scale that Adeia customers are experiencing. With my proven track record, coupled with our talented team of innovators and extensive patent portfolios, I am confident that we have all the ingredients to grow and expand our business.”

“We are pleased with the progress that we have made to date as our pipeline remains strong and is growing,” said Keith Jones, chief financial officer. “As we approach the end of the year, our revenue could be impacted by the ultimate timing of executing a select few deals. We remain confident in our ability to achieve the high-end of our revenue guidance range for 2026. However, we felt it prudent to adjust the range to reflect the potential impact to the extent certain of these deals are executed beyond the end of the year.”

Third Quarter Financial Highlights

• Revenue was $80.2 million as compared to $96.1 million in the second quarter of 2026
• GAAP diluted earnings per share (EPS) was $0.02 and non-GAAP diluted EPS was $0.21
• GAAP net income was $2.3 million and adjusted EBITDA was $36.9 million
• Cash flow from operations was $5.1 million
• Paid down $6.1 million on our term loan
• Ended the quarter with $127.7 million in cash, cash equivalents, and marketable securities

Business Highlights

• Signed eight license agreements, including with four new customers in the quarter, for access to our media portfolio:
  • A multi-year renewal with Charter, the largest Pay-TV and broadband provider in the U.S.
  • A multi-year renewal with TCL, one of the world’s largest manufacturers of connected TVs
  • A new long-term license agreement with Fanatics, a leading sports apparel e-commerce company
  • New license agreements with a social media company and a consumer electronics company, as well as three other license agreements with Pay-TV providers

Capital Allocation

During the quarter, the Company made $6.1 million in principal payments towards its term loan, bringing the outstanding balance to $386.5 million as of September 30, 2026.  

On September 14, 2026, the Company distributed $5.5 million to stockholders of record on August 24, 2026, for a quarterly cash dividend of $0.05 per share of common stock.

The Board of Directors declared a dividend of $0.05 per share, payable on December 14, 2026, to stockholders of record on November 23, 2026.

Financial Outlook

The Company is updating its full year 2026 outlook as follows:

		2026 GAAP Outlook						2026 Non-GAAP Outlook
Category (in millions, except for tax rate)		Updated			Prior			Updated			Prior
Revenue		$375.0 − 415.0			$395.0 − 435.0			$375.0 − 415.0			$395.0 − 435.0
Operating expenses (1)		$283.0 − 289.0			$295.0 − 305.0			$176.0 − 180.0			$184.0 − 192.0
Interest expense		$32.0 − 34.0			$34.0 − 36.0			$32.0 − 34.0			$34.0 − 36.0
Other income		$6.0 − 7.0			$5.5 − 6.5			$6.0 − 7.0			$5.5 − 6.5
Tax rate		20%			20%			21%			21%
Net income (2)		$52.8 − 79.2			$57.2 − 80.4			$136.7 − 164.3			$144.2 − 168.7
Adjusted EBITDA (2)		N/A			N/A			$201.1 − 237.1			$213.4 − 245.4
Diluted shares outstanding		113.5 − 114.5			114.0 − 115.0			113.5 − 114.5			114.0 − 115.0

⁽¹⁾ _{See tables for reconciliation of GAAP to non-GAAP operating expenses.}
⁽²⁾ _{See tables for reconciliation of GAAP net income to (i) non-GAAP net income and (ii) adjusted earnings before interest expense, income taxes, depreciation and amortization (adjusted EBITDA).}

Conference Call Information

The Company will hold its third quarter 2026 earnings conference call at 2:00 PM Pacific Time (5:00 PM Eastern Time) on Monday, November 2, 2026. To access the call in the U.S., please dial +1 (888) 660-6411, and for international callers, dial +1 (929) 203-0849. All participants should dial in 15 minutes prior to the start of the conference call. The Company also suggests utilizing the webcast link to access the live call and the replay at Q3 2026 Earnings Call Webcast. A live and replay webcast will be available on the Adeia Investor Relations website at https://investors.adeia.com.   

Safe Harbor Statement

This press release contains “forward-looking statements” within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on information available to the Company as of the date hereof, as well as the Company’s current expectations, assumptions, estimates and projections that involve risks and uncertainties. In this context, forward-looking statements often address expected future business, financial performance and financial condition, and often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “could,” “seek,” “see,” “will,” “may,” “would,” “might,” “potentially,” “estimate,” “continue,” “target,” similar expressions or the negatives of these words or other comparable terminology that convey uncertainty of future events or outcomes. All forward-looking statements by their nature address matters that involve risks and uncertainties, many of which are beyond the Company’s control, and are not guarantees of future results.

Forward-looking statements are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statements. Accordingly, there are or will be important factors that could cause actual results to differ materially from those indicated in such statements and, therefore, you should not place undue reliance on any such statements and caution must be exercised in relying on forward-looking statements. Important risk factors that may cause such a difference include, but are not limited to: the Company’s ability to implement its business strategy; the Company’s ability to enter into new and renewal license agreements with customers on favorable terms; the length of time it takes to enter into license agreements; the Company’s ability to retain and hire key personnel; uncertainty as to the long-term value of the Company’s common stock; legislative, regulatory and economic developments affecting the Company’s business; general economic and market developments and conditions; the Company’s ability to grow and expand its patent portfolios; the Company’s success in litigation, arbitration and administrative proceedings to defend our IP rights and our licensing practice and the costs associated with such defense; changes in technology and development of new technology in the industries in which in which the Company operates; the evolving legal, regulatory and tax regimes under which the Company operates; unforeseen liabilities and expenses; risks associated with the Company’s indebtedness; unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism or outbreak of war or hostilities, natural disasters and global health pandemics, each of which may have an adverse impact on the Company’s business, results of operations, and financial condition. These risks, as well as other risks associated with the Company’s business, are more fully discussed in the Company’s filings with the U.S. Securities and Exchange Commission (“SEC”), including the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. While the list of factors presented here is, and the list of factors presented in the Company’s filings with the SEC are, considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements.

Causes of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, failure to complete licensing arrangements on anticipated terms and timeline, failure to prevail in litigation we may bring against third parties, financial loss, legal liability to third parties and similar risks, and failure to attract or retain employees, any of which could have a material adverse effect on the Company’s consolidated financial condition, results of operations, liquidity or trading price of common stock. The Company does not assume any obligation to publicly provide revisions or updates to any forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws.

About Adeia Inc.

Adeia Inc. (Nasdaq: ADEA) develops foundational innovations that shape how the world computes, connects and experiences entertainment. Its inventions span a broad range of semiconductor and media technologies, including 3D interconnect (hybrid bonding) and advanced thermal management for AI datacenters, as well as content discovery, personalization, and streaming. These inventions are licensed to leaders across the chip design and manufacturing, consumer electronics, automotive, digital entertainment, and e-commerce industries. Adeia’s innovations enable more powerful and efficient products, and more immersive, personalized experiences across billions of devices worldwide. Learn more at www.adeia.com.

Non-GAAP Financial Measures

In addition to disclosing financial results calculated in accordance with U.S. Generally Accepted Accounting Principles (GAAP), the Company’s earnings release contains non-GAAP financial measures adjusted, where applicable, for either one-time or ongoing non-cash acquired intangibles amortization charges, costs related to actual or planned business combinations including transaction fees, integration costs, severance, facility closures, and retention bonuses, separation costs, all forms of stock-based compensation, leadership transition costs, loss on debt extinguishment, expensed debt refinancing costs, impairment of intangible assets, impact of certain foreign currency adjustments, discontinued operations and related tax effects. In addition, adjusted EBITDA adjusts for recurring charges of interest expense, income taxes, depreciation and amortization. Management believes that the non-GAAP measures used in this release provide investors with important perspectives on the Company’s ongoing business and financial performance and are helpful to provide investors with an understanding of our core operating results reflecting our normal business operations. The non-GAAP financial measures disclosed by the Company should not be considered a substitute for, or superior to, financial measures calculated in accordance with GAAP. Our use of non-GAAP financial measures has certain limitations in that the non-GAAP financial measures we use may not be directly comparable to those reported by other companies. For example, the terms used in this press release, such as EBITDA margin, which is defined as EBITDA as a percentage of revenue, adjusted EBITDA, adjusted EBITDA margin, non-GAAP operating expenses, non-GAAP net income and non-GAAP diluted earnings per share (EPS) do not have a standardized meaning. Other companies may use the same or similarly named measures, but exclude different items, which may not provide investors with a comparable view of our performance in relation to other companies. We seek to compensate for the limitation of our non-GAAP presentation by providing a detailed reconciliation of the non-GAAP financial measures to the most directly comparable GAAP measures in the tables attached hereto. Investors are encouraged to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures. All financial data is presented on a GAAP basis except where the Company indicates its presentation is on a non-GAAP basis.   

Set forth below are reconciliations of the Company’s reported and forecasted GAAP to non-GAAP financial metrics.

Investor Contact:

Chris Chaney
Vice President, Investor Relations
IR@adeia.com

– Tables Follow – SOURCE: ADEIA INC. ADEA
ADEIA INC. CONDENSED CONSOLIDATED STATEMENTS OF INCOME (in thousands, except per share amounts) (unaudited)
		Three Months Ended								Nine Months Ended
		September 30, 2026				September 30, 2025				September 30, 2026				September 30, 2025
Revenue		$	80,193			$	87,339			$	281,082			$	260,744
Operating expenses:
Research and development			18,674				16,040				55,217				48,364
Selling, general and administrative			29,002				24,920				89,816				85,481
Amortization expense			16,291				14,175				48,311				42,427
Litigation expense			7,182				5,195				18,489				18,223
Total operating expenses			71,149				60,330				211,833				194,495
Operating income			9,044				27,009				69,249				66,249
Interest expense			(8,051	)			(10,054	)			(24,632	)			(30,919	)
Other income and expense, net			1,785				1,476				5,144				4,622
Income before income taxes			2,778				18,431				49,761				39,952
Provision for income taxes			511				9,603				7,355				2,588
Net income		$	2,267			$	8,828			$	42,406			$	37,364
Net income per share:
Basic		$	0.02			$	0.08			$	0.39			$	0.34
Diluted		$	0.02			$	0.08			$	0.37			$	0.33
Weighted average number of shares used in per share calculations:
Basic			110,319				109,421				110,018				108,735
Diluted			114,254				112,823				114,288				112,676

ADEIA INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands) (unaudited)
		September 30,				December 31,
		2026				2025
ASSETS
Current assets:
Cash and cash equivalents		$	64,308			$	73,136
Marketable securities			63,439				63,597
Total cash, cash equivalents, and marketable securities			127,747				136,733
Accounts receivable, net			22,444				28,631
Unbilled contracts receivable			144,869				129,829
Other current assets			10,185				8,765
Total current assets			305,245				303,958
Long-term unbilled contracts receivable			41,562				49,499
Property and equipment, net			6,734				6,113
Operating lease right-of-use assets			7,286				8,177
Intangible assets, net			272,108				303,456
Goodwill			313,660				313,660
Other long-term assets			60,569				54,440
Total assets		$	1,007,164			$	1,039,303
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable		$	7,515			$	4,827
Accrued liabilities			24,334				34,250
Current portion of long-term debt, net			20,985				20,975
Deferred revenue			30,926				19,726
Total current liabilities			83,760				79,778
Deferred revenue, less current portion			49,989				49,975
Long-term debt, net			359,789				397,479
Noncurrent operating lease liabilities			8,229				8,734
Long-term income tax payable			7,774				7,273
Other long-term liabilities			14,857				15,523
Total liabilities			524,398				558,762
Commitments and contingencies
Stockholders’ equity:
Preferred stock			—			—
Common stock			133				128
Additional paid-in capital			717,329				685,992
Treasury stock at cost			(352,208	)			(297,778	)
Accumulated other comprehensive income (loss)			(478	)			60
Retained earnings			117,990				92,139
Total stockholders’ equity			482,766				480,541
Total liabilities and stockholders’ equity		$	1,007,164			$	1,039,303

ADEIA INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) (unaudited)
		Nine Months Ended
		September 30, 2026				September 30, 2025
Cash flows from operating activities:
Net income		$	42,406			$	37,364
Adjustments to reconcile net income to net cash from operating activities:
Depreciation of property and equipment			1,472				1,476
Amortization of intangible assets			48,311				42,427
Stock-based compensation expense			29,854				25,627
Deferred income tax and other			(5,662	)			2,256
Amortization of debt issuance costs			2,587				2,495
Other			(160	)			(334	)
Changes in operating assets and liabilities:
Accounts receivable			6,187				4,015
Unbilled contracts receivable			(7,103	)			3,347
Other assets			(996	)			(12,900	)
Accounts payable			2,692				(4,285	)
Accrued and other liabilities			(10,587	)			(1,615	)
Deferred revenue			9,244				(1,785	)
Net cash provided by operating activities			118,245				98,088
Cash flows from investing activities:
Purchases of property and equipment			(2,097	)			(1,216	)
Purchases of intangible assets			(14,992	)			(6,100	)
Purchases of short-term investments			(27,320	)			(46,256	)
Proceeds from sales of investments			—				996
Proceeds from maturities of investments			27,105				18,200
Net cash used in investing activities			(17,304	)			(34,376	)
Cash flows from financing activities:
Principal payments on debt agreements			(40,267	)			(39,267	)
Payments of dividends			(16,555	)			(16,328	)
Proceeds from employee stock purchase program and exercise of stock options			1,483				1,405
Repurchases of common stock			(34,419	)			(20,931	)
Repurchases of common stock for tax withholdings on equity awards			(20,011	)			(11,326	)
Net cash used in financing activities			(109,769	)			(86,447	)
Net decrease in cash and cash equivalents			(8,828	)			(22,735	)
Cash and cash equivalents at beginning of period			73,136				78,825
Cash and cash equivalents at end of period		$	64,308			$	56,090

ADEIA INC. GAAP TO NON-GAAP RECONCILIATIONS (in thousands, except per share amounts) (unaudited)
Net income
		Three Months Ended								Nine Months Ended
		September 30, 2026				September 30, 2025				September 30, 2026				September 30, 2025
GAAP net income		$	2,267			$	8,828			$	42,406			$	37,364
Adjustments to GAAP net income:
Stock-based compensation expense:
Research and development			2,065				1,488				5,715				4,144
Selling, general and administrative			8,576				7,195				24,139				21,483
Amortization expense			16,291				14,175				48,311				42,427
Transaction costs recorded in selling, general and administrative			—				23				—				1,177
Leadership transition and other related costs recorded in selling, general and administrative			205				—				402				—
Separation and other related costs recorded in selling, general and administrative (1)			216				334				6,328				6,713
Total operating expenses adjustments			27,353				23,215				84,895				75,944
Non-GAAP tax adjustment (2)			(5,817	)			24				(20,923	)			(24,069	)
Non-GAAP net income		$	23,803			$	32,067			$	106,378			$	89,239
Diluted earnings per share
		Three Months Ended								Nine Months Ended
		September 30, 2026				September 30, 2025				September 30, 2026				September 30, 2025
GAAP diluted earnings per share		$	0.02			$	0.08			$	0.37			$	0.33
Adjustments to GAAP diluted earnings per share:
Stock-based compensation expense:
Research and development			0.02				0.01				0.05				0.04
Selling, general and administrative			0.08				0.06				0.21				0.19
Amortization expense			0.14				0.13				0.42				0.38
Transaction costs recorded in selling, general and administrative			—				—				—				0.01
Leadership transition and other related costs recorded in selling, general and administrative			—				—				—
Separation and other related costs recorded in selling, general and administrative (1)			—				—				0.06				0.05
Total operating expenses adjustments			0.24				0.20				0.74				0.67
Non-GAAP tax adjustment (2)			(0.05	)			—				(0.18	)			(0.21	)
Non-GAAP diluted earnings per share		$	0.21			$	0.28			$	0.93			$	0.79

⁽¹⁾ _{Represents separation and related costs that were incurred subsequent to the separation on October 1, 2022, including expenses incurred on a transitional basis under a contract shared with Xperi Inc.}
⁽²⁾ _{The provision for income taxes is adjusted to reflect the net income tax effects of the various non-GAAP pretax adjustments.}

ADEIA INC. GAAP NET INCOME TO ADJUSTED EBITDA RECONCILIATION (in thousands) (unaudited)
		Three Months Ended								Nine Months Ended
		September 30, 2026				September 30, 2025				September 30, 2026				September 30, 2025
GAAP net income		$	2,267			$	8,828			$	42,406			$	37,364
Adjustments to GAAP net income:
Stock-based compensation expense:
Research and development			2,065				1,488				5,715				4,144
Selling, general and administrative			8,576				7,195				24,139				21,483
Transaction costs recorded in selling, general and administrative			—				23				—				1,177
Leadership transition and other related costs recorded in selling, general and administrative			205				—				402				—
Separation and other related costs recorded in selling, general and administrative (1)			216				334				6,328				6,712
Amortization expense			16,291				14,175				48,311				42,427
Depreciation expense			500				479				1,472				1,476
Interest expense			8,051				10,054				24,632				30,919
Other income and expense, net			(1,785	)			(1,476	)			(5,144	)			(4,622	)
Provision for income taxes			511				9,603				7,355				2,588
Adjusted EBITDA		$	36,897			$	50,703			$	155,616			$	143,668

⁽¹⁾ _{Represents separation and related costs that were incurred subsequent to the separation on October 1, 2022, including expenses incurred on a transitional basis under a contract shared with Xperi Inc.}   

ADEIA INC. RECONCILIATION FOR GUIDANCE ON OPERATING EXPENSES (in millions) (unaudited)
		Year Ended
		December 31, 2026
		Low				High
GAAP operating expenses		$	283.0			$	289.0
Amortization expense			64.0				65.0
Stock-based compensation expense			34.0				35.0
Separation and related costs (1)			9.0				9.0
Total of non-GAAP adjustments			107.0				109.0
Non-GAAP operating expenses		$	176.0			$	180.0

⁽¹⁾ _{Represents separation and related costs that were incurred subsequent to the separation on October 1, 2022, including expenses incurred on a transitional basis under a contract shared with Xperi Inc.} 

ADEIA INC. RECONCILIATION FOR GUIDANCE ON NET INCOME (in millions) (unaudited)
		Year Ended
		December 31, 2026
		Low				High
GAAP net income		$	52.8			$	79.2
Amortization expense			64.0				65.0
Stock-based compensation expense			34.0				35.0
Separation and related costs (1)			9.0				9.0
Total of non-GAAP operating expenses			107.0				109.0
Non-GAAP tax adjustment (2)			(23.1	)			(23.9	)
Non-GAAP net income		$	136.7			$	164.3

⁽¹⁾ _{Represents separation and related costs that were incurred subsequent to the separation on October 1, 2022, including expenses incurred on a transitional basis under a contract shared with Xperi Inc.} 
⁽²⁾ _{The provision for income taxes is adjusted to reflect the net income tax effects of the various non-GAAP pretax adjustments.}

ADEIA INC. RECONCILIATION FOR GUIDANCE ON ADJUSTED EBITDA (in millions) (unaudited)
		Year Ended
		December 31, 2026
		Low				High
GAAP net income		$	52.8			$	79.2
Stock-based compensation expense			34.0				35.0
Separation and related costs (1)			9.0				9.0
Amortization expense			64.0				65.0
Depreciation expense			2.1				2.1
Interest expense			32.0				34.0
Other income			(6.0	)			(7.0	)
Income tax expense			13.2				19.8
Total of non-GAAP adjustments			148.3				157.9
Adjusted EBITDA		$	201.1			$	237.1

⁽¹⁾ _{Represents separation and related costs that were incurred subsequent to the separation on October 1, 2022, including expenses incurred on a transitional basis under a contract shared with Xperi Inc.}

• Q3 Revenue grew 151% year-over-year to $235 million
• Q3 Direct Channel Revenue grew 112% year-over-year to $119 million
• Q3 Third-Party Channel Revenue grew 209% year-over-year to $116 million

AUSTIN, Texas, Nov. 02, 2026 (GLOBE NEWSWIRE) — Ethos (Nasdaq: LIFE), a leading life insurance technology company on a mission to democratize access to life insurance, today announced its financial results for the third quarter ended September 30, 2026.

“Q3 was a record quarter for Ethos. We grew revenue 151% year-over-year and delivered our third consecutive quarter of triple digit year-over-year growth,” said Peter Colis, CEO and Co-Founder of Ethos. “In Q3 alone, we protected more than 140,000 additional families. Our results illustrate the power of growth at scale paired with disciplined execution, and continue to show that Ethos is a business that gets better as it gets bigger.”

Third Quarter 2026 Financial Highlights

• Revenue: Grew 151% year-over-year to $235.2 million
• Direct Channel Revenue: Grew 112% year-over-year to $118.8 million
• Third-Party Channel Revenue: Grew 209% year-over-year to $116.4 million
• Gross Profit: $230.8 million, representing a 98% gross profit margin
• Contribution Profit: $66.4 million, a 28% contribution profit margin
• Net Income: $4.7 million, representing a 2% margin
• Net Income per Share: basic and diluted were $0.07 per share
• Non-GAAP Net Income: $33.8 million, representing a 14% margin
• Non-GAAP Net Income per Share: basic was $0.53 and diluted was $0.49 per share   
• Adjusted EBITDA: $34.9 million, representing a 15% margin
• Cash Flow: $40.7 million net cash provided by operations

Third Quarter 2026 Business Highlights

• Families Protected: Activated 142,111 new policies in Q3, representing 189% year-over-year growth
• Reported Average Revenue per Unit: $1,655, representing a 13% year-over-year decline due to a channel mix that skewed more heavily towards Ethos’ Third-Party channel.

Share Repurchase  

During the third quarter ended September 30, 2026, the Board of Directors of Ethos authorized a share repurchase program of up to $100 million of the Company’s outstanding Class A common stock. Since the announcement of such program no shares have been repurchased.

Financial Outlook  

For the fourth quarter of 2026, Ethos expects the following:

• Total Revenue: Between $220 million and $224 million, representing a 102% increase year-over-year at the midpoint
• Adjusted EBITDA: Between $30 million and $32 million

For the full fiscal year 2026, Ethos expects the following:

• Total Revenue: Between $838 million and $842 million, representing a 117% increase year-over-year at the midpoint
• Adjusted EBITDA: Between $134 million and $136 million

Ethos’ financial outlook for the fourth quarter and full fiscal year 2026 are forward-looking, and actual results may differ materially as a result of many factors. Refer to the Forward-Looking Statements safe harbor below for information on the factors that could cause the company’s actual results to differ materially from these forward-looking statements.

Reconciliation of Adjusted EBITDA on a forward-looking basis to net income, the most directly comparable GAAP measure, is not available without unreasonable efforts due to high variability and complexity and low visibility with respect to certain charges excluded from this non-GAAP measure, including interest expense, interest income, and income tax expenses. Ethos expects the variability of these items could have a significant, and potentially unpredictable, impact on its future GAAP financial results.

Conference Call Information

Ethos will host a conference call for analysts and investors to discuss its earnings results for the third quarter 2026 and outlook for its fourth fiscal quarter and fiscal year 2026 today at 1:30 p.m. Pacific time (4:30 p.m. Eastern time). A live webcast and accompanying presentation can be accessed through the events section of the Ethos investor relations website at investors.ethos.com. A recorded webcast of the event will also be available on the Ethos Investor Relations website.    

Non-GAAP Financial Information

Ethos has provided in this press release financial information that has not been prepared in accordance with generally accepted accounting principles in the United States (GAAP). We believe that non-GAAP financial measures, among others, provide important supplemental information to management and investors, help evaluate our business, identify trends affecting our performance, formulate business plans, and make strategic decisions.

The presentation of these non-GAAP financial measures is not meant to be considered in isolation or as a substitute for comparable GAAP financial measures and should be read only in conjunction with the Company’s consolidated financial statements prepared in accordance with GAAP. For further information regarding these non-GAAP measures, including the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures, please refer to the financial tables below.

Adjusted EBITDA –  Ethos defines Adjusted EBITDA as net income excluding interest expense, interest income, income tax expense (benefit), depreciation and amortization, and stock-based compensation expense and related taxes as set forth in the table below. Adjusted EBITDA Margin is calculated by dividing Adjusted EBITDA for a period by revenue for the same period. Ethos uses Adjusted EBITDA and Adjusted EBITDA Margin to assess performance, to inform the preparation of its annual operating budget and quarterly forecasts, to evaluate the effectiveness of its business strategies, and to assist its board of directors in monitoring its business and financial performance. Ethos believes that Adjusted EBITDA and Adjusted EBITDA Margin provide useful information to investors about its business and financial performance, enhance their overall understanding of its past performance and future prospects, including by providing consistency and comparability with its past financial performance, and allow for greater transparency with respect to measures used by its management in investors’ financial and operational decision making. In addition, Ethos believes Adjusted EBITDA is widely used by investors, securities analysts, and other parties in evaluating companies in its industry as a measure of operational performance.

Contribution Profit – Ethos defines Contribution Profit as gross profit less sales and marketing expense, which includes agent payments and underwriting costs for non-activated policies, plus stock-based compensation and related taxes related to its employees and overhead costs allocated to sales and marketing expenses. Gross profit is defined as revenue less cost of revenue. Cost of revenue primarily consists of underwriting costs associated with activated policies. Overhead costs allocated to sales and marketing expenses include professional fees, technology expenses, and other related expenses. Contribution Margin is calculated by dividing Contribution Profit for a period by revenue for the same period.

Non-GAAP Net Income and Non-GAAP Net Income Per Share, Basic and Diluted – Ethos defines non-GAAP net income as net income/(loss), adjusted to exclude stock-based compensation and related taxes, to provide investors and management with greater visibility into the underlying performance of its recurring core business operations. Ethos defines non-GAAP net income per share, basic, as non-GAAP net income divided by the weighted-average shares outstanding. Ethos defines non-GAAP net income per share, diluted, as non-GAAP net income divided by the weighted-average shares outstanding, which includes the dilutive effect of potentially diluted common stock equivalents outstanding during the period, if any.

About Ethos

Ethos is a leading life insurance technology company on a mission to protect families by democratizing access to life insurance and empowering agents at scale. With its robust three-sided technology platform, Ethos is transforming the life insurance experience for consumers, agents, and carriers alike. Ethos offers instant, accessible products and a seamless online process that requires no medical exams and just a few health questions; it eliminates traditional barriers, making it easier than ever for everyone to protect their families. Ethos is redefining how life insurance is bought, sold, and underwritten.

Learn more at ethos.com.

Investor Relations Contact:
Aaron Turner
ir@ethos.com

Press Contact:
Allyson Savage
press@ethos.com

Forward-Looking Statements

This press release and the related conference call contain express and implied “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding potential share repurchases, Ethos’ financial outlook for the fiscal quarter ending December 31, 2026 and the fiscal year ending December 31, 2026, the size of Ethos’ market opportunity, market trends, and Ethos’ business and financial strategy and plans. In some cases, you can identify forward-looking statements by terms such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “project,” “will,” or similar expressions. Such statements are subject to risks, uncertainties and other factors that may cause actual results to be materially different from any future results expressed or implied by the forward-looking statements. These include, but are not limited to: Ethos’ limited operating history at its current scale, scope and complexity; the growth rate of the markets in which Ethos competes; Ethos’ ability to effectively manage and sustain its growth; Ethos’ ability to compete with existing competitors and new market entrants; Ethos’ ability to attract new and retain existing carriers and agency counterparties; adoption of and engagement with Ethos’ platform by individual agents; Ethos’ brand awareness and the success of its marketing efforts to grow its business; potential damage to Ethos’ reputation; disruptions or other business interruptions that affect the availability of Ethos’ platform. Additional risks and uncertainties that could cause actual outcomes and results to differ materially from those contemplated by the forward-looking statements contained herein are included in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of Ethos’ most recent filings with the Securities and Exchange Commission, including in its Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2026.  Except as required by law, Ethos undertakes no obligation, and does not intend, to update these forward-looking statements.

ETHOS TECHNOLOGIES INC. Condensed Consolidated Statements of Operations (In Thousands, Except Per Share Data) (Unaudited)
		Three Months Ended September 30,								Nine Months Ended September 30,
		2026				2025				2026				2025
Revenue:
Commission		$	235,215			$	93,794			$	617,876			$	277,531
Total revenue			235,215				93,794				617,876				277,531
Costs and expenses:
Sales and marketing			169,423				57,074				441,616				165,205
General and administrative			39,176				8,871				243,730				30,414
Technology (exclusive of amortization)			16,480				7,769				57,414				24,711
Cost of revenue			4,451				1,677				11,707				4,674
Depreciation and amortization			1,838				1,332				4,757				4,075
Total costs and expenses			231,368				76,723				759,224				229,079
Income (loss) from operations			3,847				17,071				(141,348	)			48,452
Other income (expense):
Interest expense			(358	)			(786	)			(1,636	)			(2,405	)
Interest income			1,908				1,410				5,050				4,472
Other income, net			65				42				170				100
Total other income, net			1,615				666				3,584				2,167
Net income (loss) before income tax expense			5,462				17,737				(137,764	)			50,619
Income tax expense			790				1,863				4,424				4,029
Net income (loss)			4,672				15,874				(142,188	)			46,590
Deemed dividend on the conversion of Series D and D-1 redeemable convertible preferred stock			—				—				(5,642	)			—
Net income (loss) attributable to common stockholders		$	4,672			$	15,874			$	(147,830	)		$	46,590
Per share data:
Basic net income (loss) per share		$	0.07			$	0.96			$	(2.52	)		$	2.83
Diluted net income (loss) per share		$	0.07			$	0.27			$	(2.52	)		$	0.80
Weighted-average shares used in computing basic net income (loss) per share			64,396				16,556				58,669				16,453
Weighted-average shares used in computing diluted net income (loss) per share			69,207				58,222				58,669				58,593

ETHOS TECHNOLOGIES INC. Condensed Consolidated Balance Sheets (In Thousands) (Unaudited)
		September 30,				December 31,
		2026				2025
Assets
Current assets:
Cash and cash equivalents		$	149,800			$	91,091
Short-term investments			71,656				34,876
Accounts receivable, net			83,464				36,498
Commissions receivable-current, net			33,936				28,786
Prepaid and other current assets			68,752				54,553
Total current assets			407,608				245,804
Long-term assets:
Commissions receivable, net			315,389				224,219
Property and equipment, net			12,097				8,189
Operating lease right-of-use assets			1,354				2,183
Goodwill			2,238				2,238
Acquired intangible assets, net of amortization			587				662
Long-term investments			68,613				31,468
Other long-term assets			633				574
Total long-term assets			400,911				269,533
Total assets		$	808,519			$	515,337
Liabilities, redeemable preferred stock and stockholders’ equity
Current liabilities:
Accounts payable		$	77,558			$	55,070
Accrued expenses			109,384				39,224
Liabilities related to sale of commissions receivable, current			8,314				11,750
Operating lease liabilities, current			875				1,125
Other current liabilities			80,692				6,021
Total current liabilities			276,823				113,190
Long-term liabilities:
Liabilities related to sale of commissions receivable, non-current			7,061				12,509
Operating lease liabilities, non-current			619				1,228
Deferred tax liability			11,867				8,529
Total long-term liabilities			19,547				22,266
Total liabilities			296,370				135,456
Commitments and contingencies
Redeemable convertible preferred stock, par value $0.0001			—				403,997
Stockholders’ deficit:
Common stock, $0.0001 par value			6				2
Additional paid-in capital			759,000				78,950
Accumulated other comprehensive loss			(2,155	)			(554	)
Accumulated deficit			(244,702	)			(102,514	)
Total stockholders’ equity (deficit)			512,149				(24,116	)
Total liabilities, redeemable convertible preferred stock and stockholders’ equity		$	808,519			$	515,337

ETHOS TECHNOLOGIES INC. Condensed Consolidated Statements of Cash Flows (In Thousands) (Unaudited)
		Nine Months Ended September 30,
		2026				2025
Cash flows from operating activities
Net income (loss)		$	(142,188	)		$	46,590
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Deferred taxes			3,338				3,483
Depreciation and amortization			4,757				4,075
Non-cash interest expense			1,636				2,405
Amortization of discounts and premium, investments			(962	)			(994	)
Stock-based compensation expense			237,296				10,564
Operating lease right-of-use asset amortization			828				635
Unrealized foreign currency translation			(205	)			(244	)
Changes in operating assets and liabilities:
Prepaid and other assets			(21,183	)			(15,889	)
Accounts payable			22,641				35,266
Accounts receivable			(46,966	)			(5,636	)
Commissions receivable			(5,150	)			(11,014	)
Long-term commissions receivable			(91,170	)			(35,507	)
Accrued expenses			71,119				10,517
Other current liabilities			73,813				(12,220	)
Other long-term liabilities			—				(750	)
Net cash provided by operating activities			107,604				31,281
Cash flows from investing activities
Purchase of property and equipment			(1,350	)			(1,101	)
Purchase of investments			(145,532	)			(52,509	)
Proceeds from maturity of investments			70,615				79,870
Investment in software development costs			(5,328	)			(3,145	)
Net cash provided by (used in) investing activities			(81,595	)			23,115
Cash flows from financing activities
Proceeds from issuance of Class A common stock in initial public offering, net of underwriting discounts and commissions			91,580				—
Proceeds from liabilities related to sale of commissions receivable			—				5,000
Taxes paid related to net share settlement of restricted stock units			(49,085	)			—
Repayment of liabilities related to sale of commissions receivable			(10,196	)			(7,802	)
Proceeds from equity incentive plans and warrant exercise			3,352				794
Payment of deferred offering costs			(2,843	)			(3,175	)
Net cash provided by (used in) financing activities			32,808				(5,183	)
Net increase in cash and cash equivalents			58,817				49,213
Effect of exchange rates on cash			(108	)			(19	)
Cash and cash equivalents, beginning of period			91,091				35,075
Cash and cash equivalents, end of period		$	149,800			$	84,269

ETHOS TECHNOLOGIES INC. RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In Thousands) (Unaudited)
		Three Months Ended September 30,								Nine Months Ended September 30,
		2026				2025				2026				2025
		(in thousands)
Gross profit		$	230,764			$	92,117			$	606,169			$	272,857
Less: sales and marketing			(169,423	)			(57,074	)			(441,616	)			(165,205	)
Add: stock-based compensation and related taxes allocated to sales and marketing			(170	)			23				11,413				2,043
Add: professional fees allocated to sales and marketing			1,806				258				3,156				1,174
Add: technology expenses allocated to sales and marketing			2,137				750				4,823				2,197
Add: other expenses allocated to sales and marketing			1,310				620				3,392				1,746
Contribution profit		$	66,424			$	36,694			$	187,337			$	114,812
Gross profit margin			98	%			98	%			98	%			98	%
Contribution profit margin			28	%			39	%			30	%			41	%

		Three Months Ended September 30,								Nine Months Ended September 30,
		2026				2025				2026				2025
		(in thousands)
Net income (loss)		$	4,672			$	15,874			$	(142,188	)		$	46,590
Stock-based compensation and related taxes			29,170				272				240,163				10,564
Non-GAAP net income		$	33,842			$	16,146			$	97,975			$	57,154
Interest expense			358				786				1,636				2,405
Interest income			(1,908	)			(1,410	)			(5,050	)			(4,472	)
Income tax expense			790				1,863				4,424				4,029
Depreciation and amortization			1,838				1,332				4,757				4,075
Adjusted EBITDA		$	34,920			$	18,717			$	103,742			$	63,191
Net income (loss) margin			2	%			17	%			-23	%			17	%
Non-GAAP net income margin			14	%			17	%			16	%			21	%
Adjusted EBITDA margin			15	%			20	%			17	%			23	%

		Three Months Ended September 30,								Nine Months Ended September 30,
		2026				2025				2026				2025
		(in thousands)
Stock–based compensation and related taxes
Sales and marketing		$	(170	)		$	23			$	11,413			$	2,043
General and administrative			25,603				137				205,538				5,905
Technology (exclusive of amortization)			3,737				112				23,212				2,616
Total		$	29,170			$	272			$	240,163			$	10,564

		Three Months Ended September 30,								Nine Months Ended September 30,
		2026				2025				2026				2025
		(in thousands, except per share data)
GAAP net income (loss)		$	4,672			$	15,874			$	(142,188	)		$	46,590
Deemed dividend on the conversion of Series D and D-1 redeemable convertible preferred stock			—				—				(5,642	)			—
GAAP net income (loss) attributable to common stockholders		$	4,672			$	15,874			$	(147,830	)		$	46,590
GAAP net income (loss)		$	4,672			$	15,874			$	(142,188	)		$	46,590
Add back: Stock-based compensation expense and related taxes			29,170				272				240,163				10,564
Non-GAAP net income		$	33,842			$	16,146			$	97,975			$	57,154
Deemed dividend on the conversion of Series D and D-1 redeemable convertible preferred stock			—				—				(5,642	)			—
Non-GAAP net income attributable to common stockholders		$	33,842			$	16,146			$	92,333			$	57,154
Per share data:
Weighted-average shares used in computing GAAP net income (loss) per share, basic			64,396				16,556				58,669				16,453
Weighted-average shares used in computing GAAP net income (loss) per share, diluted			69,207				58,222				58,669				58,593
Weighted-average shares used in computing non-GAAP net income per share, basic			64,396				16,556				58,669				16,453
Weighted-average shares used in computing non-GAAP net income per share, diluted			69,207				58,222				65,707				58,593
GAAP net income (loss) per share attributable to common stockholders, basic		$	0.07			$	0.96			$	(2.52	)		$	2.83
GAAP net income (loss) per share attributable to common stockholders, diluted		$	0.07			$	0.27			$	(2.52	)		$	0.80
Non-GAAP net income per share attributable to common stockholders, basic		$	0.53			$	0.98			$	1.57			$	3.47
Non-GAAP net income per share attributable to common stockholders, diluted		$	0.49			$	0.28			$	1.41			$	0.98