GlobeNewswire – Page 41

Veracyte to Participate in Upcoming Investor Conferences

Posted on October 29, 2026 by Ravi Shankar

SOUTH SAN FRANCISCO, Calif., Oct. 29, 2026 (GLOBE NEWSWIRE) — Veracyte, Inc. (Nasdaq: VCYT), a leading cancer diagnostics company, today announced it will be participating in the following investor conferences:

UBS Global Healthcare Conference – Palm Beach Gardens, FL
Fireside chat on Tuesday, November 10 at 4:15 p.m. Eastern Time
Jefferies Global Healthcare Conference – London, UK
Fireside chat on Wednesday, November 18 at 2:30 p.m. Greenwich Mean Time
Stephens Annual Investment Conference – Nashville, TN
Fireside chat on Thursday, November 19 at 9:30 a.m. Central Time

Live audio webcasts of the company’s presentations will be available by visiting Veracyte’s website at http://investor.veracyte.com/events-presentations. Replays of the webcasts will be available for 90 days after each live presentation broadcast.

About Veracyte
Veracyte (Nasdaq: VCYT) is a global diagnostics company with a vision to transform cancer care for patients around the world. The company’s molecular tests assess the unique biology of each patient’s tumor to help clinicians answer essential questions about cancer care. Veracyte’s Diagnostics Platform combines broad genomic and clinical data, advanced bioinformatics and AI, and a powerful evidence-generation engine to support continued innovation and pipeline development. The company’s portfolio includes the Afirma® Genomic Sequencing Classifier test, Decipher® Bladder Genomic Classifier test, Decipher® Prostate Genomic Classifier test, Prosigna® Breast Risk of Recurrence test, and the TrueMRD™ Monitoring Test for MIBC. For more information, visit Veracyte’s website or follow the company on LinkedIn or X (Twitter).

Investors:
Kelly Gura
investors@veracyte.com

Media:
Molly Cornbleet
media@veracyte.com
+1-650-351-8780

Posted in UncategorizedTagged GlobeNewswire

Exponent Declares Regular Quarterly Dividend for Q4 2026

Posted on October 29, 2026 by Ravi Shankar

MENLO PARK, Calif., Oct. 29, 2026 (GLOBE NEWSWIRE) — Exponent, Inc. (Nasdaq: EXPO) today announced that its Board of Directors has declared a quarterly cash dividend of $0.31 per share of common stock to be paid on December 18, 2026 to all common stockholders of record as of December 4, 2026.

Exponent has paid, and expects to continue to pay, quarterly dividends each year in March, June, September, and December. Future declarations of quarterly dividends and the establishment of future record and payment dates are subject to the final determination of Exponent’s Board of Directors.

“Our quarterly cash dividend reflects the consistency of Exponent’s cash generation and our continued commitment to returning capital to shareholders,” commented Dr. Catherine Corrigan, Chief Executive Officer. “Our disciplined approach to capital allocation, supported by a strong balance sheet, allows us to return capital to shareholders while continuing to invest in the people and capabilities that drive long-term growth.”

About Exponent

Exponent brings together 90+ technical disciplines and 950+ consultants to help our clients navigate the increasing complexity of more than a dozen industries, connecting decades of pioneering work in failure analysis to develop solutions for a safer, healthier, more sustainable world.

Exponent’s consultants deliver the highest value by leveraging multidisciplinary expertise and resources from across Exponent’s offices in North America, Asia, and Europe. Exponent’s consultants, laboratories, databases, and computing resources work seamlessly together around the globe, enabling us to produce the breakthrough insights needed to help multinational companies, startups, law firms, insurance companies, governments, and society respond to incidents and push their products and processes forward.

Exponent may be reached at (888) 656-EXPO, info@exponent.com, or www.exponent.com.

Forward Looking Statements

This news release contains, and incorporates by reference, certain “forward-looking” statements (as such term is defined in the Private Securities Litigation Reform Act of 1995, and the rules promulgated pursuant to the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended) that are based on the beliefs of the Company’s management, as well as assumptions made by and information currently available to the Company’s management. When used in this document and in the documents incorporated herein by reference, the words “intend,” “anticipate,” “believe,” “estimate,” “expect” and similar expressions, as they relate to the Company or its management, identify such forward-looking statements. Such statements reflect the current views of the Company or its management with respect to future events and are subject to certain risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, the Company’s actual results, performance, or achievements could differ materially from those expressed in, or implied by, any such forward-looking statements. Factors that could cause or contribute to such material differences include the possibility that the demand for our services may decline as a result of changes in generally applicable and industry-specific economic conditions, the timing of engagements for our services, the effects of competitive services and pricing, the absence of backlog related to our business, our ability to attract and retain key employees, the effect of tort reform and government regulation on our business, and liabilities resulting from claims made against us. Additional risks and uncertainties are discussed in our Annual Report on Form 10-K under the heading “Risk Factors” and elsewhere in the report. The inclusion of such forward-looking information should not be regarded as a representation by the Company or any other person that the future events, plans, or expectations contemplated by the Company will be achieved. The Company undertakes no obligation to release publicly any updates or revisions to any such forward-looking statements.

Posted in UncategorizedTagged GlobeNewswire

Alpine Income Property Trust Closes $175 Million Unsecured Financing

Posted on October 29, 2026 by Ravi Shankar

WINTER PARK, Fla., Oct. 29, 2026 (GLOBE NEWSWIRE) — Alpine Income Property Trust, Inc. (NYSE: PINE) (the “Company”), today announced the successful closing of its previously announced 2030 term loan due October 2030 (the “2030 Term Loan”) and upsized revolving credit facility (“Revolving Credit Facility”) providing $175 million in unsecured financings consisting of:

A new $100 million 2030 Term Loan; and
A $75 million increase in the aggregate amount of commitments under the Revolving Credit Facility to $325 million from $250 million.

“The new term loan and expanded revolver add $175 million of potential liquidity and financial flexibility to fund future acquisitions,” said Philip R. Mays, Senior Vice President and Chief Financial Officer of Alpine Income Property Trust. “We appreciate the continued support of our existing banking partners and are pleased to welcome Capital One and Associated Bank to our Credit Facility.”

At closing, the Company moved $100 million of existing SOFR swap agreements previously applied to the Revolving Credit Facility to the 2030 Term Loan, resulting in an initial fixed interest rate on the 2030 Term Loan of approximately 4.6% based on the Company’s current leverage ratio. The Company will continue to evaluate interest rate hedging alternatives as $50 million of the SOFR swap agreements applied to the 2030 Term Loan mature in January 2027, with the remaining $50 million maturing in March 2028.

The 2030 Term Loan and upsized Revolving Credit Facility were provided by a syndicate of banks led by Truist Bank, N.A., as administrative agent. Co-syndication agents included Capital One, National Association, KeyBank National Association, PNC Bank, National Association, Raymond James Bank, Regions Bank, and The Huntington National Bank. Additional participating banks included Associated Bank, National Association, Pinnacle Bank, and Stifel Bank & Trust.

About Alpine Income Property Trust, Inc.

Alpine Income Property Trust, Inc. (NYSE: PINE) is a publicly traded real estate investment trust that seeks to deliver attractive risk-adjusted returns and dependable cash dividends by investing in, owning and operating a portfolio of single tenant net leased commercial income properties that are predominantly leased to high-quality publicly traded and credit-rated tenants. The Company also complements its income property portfolio by strategically investing in a select portfolio of commercial loan investments intended to deliver an attractive risk-adjusted return.

We encourage you to review our most recent investor presentation which is available on our website at http://www.alpinereit.com.

Safe Harbor

This press release may contain “forward-looking statements.” Forward-looking statements include statements that may be identified by words such as “potential,” “future,” “outlook,” “could,” “may,” “might,” “will,” “likely,” “anticipates,” “intends,” “plans,” “seeks,” “believes,” “estimates,” “expects,” “continues,” “projects” and similar references to future periods, or by the inclusion of forecasts or projections. Statements, among others, relating to potential liquidity and financial flexibility to fund future acquisitions and the Company’s continued evaluation of interest rate hedging alternatives are forward-looking statements. Forward-looking statements are based on the Company’s current expectations and assumptions regarding capital market conditions, the Company’s business, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, the Company’s actual results may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include general business and economic conditions, continued volatility and uncertainty in the credit markets and broader financial markets, geopolitical conflicts, tariffs and international trade policies, risks inherent in the real estate business, including tenant or borrower defaults, potential liability relating to environmental matters, credit risk associated with the Company investing in commercial loans and investments, illiquidity of real estate investments and potential damages from natural disasters, the impact of epidemics or pandemics on the Company’s business and the businesses of its tenants and borrowers and the impact of such epidemics or pandemics on the U.S. economy and market conditions generally, other factors affecting the Company’s business or the businesses of its tenants and borrowers that are beyond the control of the Company or its tenants or borrowers, and the factors set forth under “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 and other risks and uncertainties discussed from time to time in the Company’s filings with the U.S. Securities and Exchange Commission. Any forward-looking statement made in this press release speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

CONTACT: Contact:
Investor Relations
ir@alpinereit.com

Posted in UncategorizedTagged GlobeNewswire

Exponent Reports Third Quarter 2026 Financial Results

Posted on October 29, 2026 by Ravi Shankar

MENLO PARK, Calif., Oct. 29, 2026 (GLOBE NEWSWIRE) — Exponent, Inc. (Nasdaq: EXPO) today reported financial results for the third quarter of fiscal year 2026 ended October 2, 2026.

“Exponent delivered another strong quarter, with double-digit growth in revenues and earnings, reflecting continued demand for our specialized, integrated engineering and scientific expertise,” stated Dr. Catherine Corrigan, Chief Executive Officer. “User research studies continued to be a strong contributor to our growth, as clients move quickly to understand how people interact with technology across a widening range of devices and applications. Reactive work also grew, on top of a strong prior-year quarter, with increased dispute-related and failure analysis demand in the chemical, consumer products and transportation industries.

“These results reflect the durable, long-term trends shaping our business, including rapid technological innovation, increasing complexity, investment in critical infrastructure, and rising societal expectations for safety and reliability. As artificial intelligence and other digital technologies become increasingly embedded into physical systems, the digital and physical worlds are converging. Exponent is differentiated at that convergence, where data and computation meet real-world evidence, and where technology must ultimately work for the user. Our multidisciplinary scientists and engineers bring together deep domain expertise, scientific rigor, and an understanding of complex physical systems to help clients innovate with confidence, solve their most challenging problems, and manage high-consequence risk,” Dr. Corrigan continued.

Third Quarter Financial Results

Total revenues and revenues before reimbursements for the third quarter of 2026 increased 18% to $173.7 million and 12% to $153.1 million, respectively, as compared to $147.1 million and $137.1 million in the third quarter of 2025.

Net income increased to $30.9 million, or $0.64 per diluted share, in the third quarter of 2026, as compared to $28.0 million, or $0.55 per diluted share, in the same period of 2025. The tax benefit associated with share-based awards was immaterial in both the third quarter of 2026 and 2025. Inclusive of the tax benefit, Exponent’s consolidated tax rate was 28.0% in the third quarter of 2026, as compared to 27.4% for the same period in 2025.

EBITDA¹ increased to $45.0 million, or 29.4% of revenues before reimbursements, in the third quarter of 2026, as compared to $38.8 million, or 28.3% of revenues before reimbursements in the third quarter of 2025.

Year to Date Financial Results

Total revenues and revenues before reimbursements for the first three quarters of 2026 increased 18% to $511.6 million and 11% to $453.7 million, respectively, as compared to $434.6 million and $407.4 million in the same period of 2025.

Net income increased to $89.9 million, or $1.83 per diluted share, through the first three quarters of 2026, as compared to $81.2 million, or $1.58 per diluted share, in the same period of 2025. During the first three quarters of 2026, we realized a negative tax impact associated with share-based awards of $0.8 million, as compared to $0.4 million during the same period one year ago. Inclusive of the tax impact associated with share-based awards, Exponent’s consolidated tax rate was 28.7% through the first three quarters of 2026, as compared to 28.2% for the same period last year.

EBITDA¹ increased to $130.8 million, or 28.8% of revenues before reimbursements, through the first three quarters of 2026, as compared to $113.4 million, or 27.8% of revenues before reimbursements, in the same period of 2025.

Through the first three quarters of 2026, Exponent paid $46.1 million in dividends, repurchased $146.1 million of common stock, and closed the period with $114.7 million in cash and cash equivalents.

In a separate press release today, Exponent announced its quarterly cash dividend of $0.31 to be paid on December 18, 2026, and reiterated its intent to continue to pay quarterly dividends.

Business Overview

Exponent’s engineering and other scientific segment represented 85% of the Company’s revenues before reimbursements in the third quarter and through the first three quarters of 2026. Revenues before reimbursements in this segment increased 13% in the third quarter and through the first three quarters of 2026, as compared to the prior year period. Growth during the quarter was driven by strong user research activity spanning a broad set of challenges, including health applications, dynamic and unstructured real-world environments, and sensory perception. Dispute-related services involving chemical facilities, consumer products and advanced transportation technologies also drove growth in the quarter, as clients rely on Exponent in critical, high-stakes situations.

Exponent’s environmental and health segment represented 15% of the Company’s revenues before reimbursements in the third quarter and through the first three quarters of 2026. Revenues before reimbursements in this segment increased 3% in the third quarter and 4% through the first three quarters of 2026, as compared to the prior year period. Growth in this segment was driven by increased projects assessing the effects of chemicals on human health and the environment.

Business Outlook

“Our ability to scale our operating model in response to market demand resulted in 77% utilization and expanded profitability during the third quarter of 2026. We are encouraged by the market opportunities across the industries we serve and continue to strategically build upon our diversified portfolio of talent and capabilities,” commented Eric Anderson, Chief Financial Officer. “As we close out 2026, we are raising our full-year revenue and margin guidance, reflecting the strength of our year-to-date performance and our outlook for the remainder of the year. Looking ahead, we remain confident in Exponent’s long-term growth trajectory and our ability to capitalize on the strong demand for our differentiated expertise.”

For the fourth quarter of fiscal 2026 as compared to the same period one year prior, Exponent anticipates:

Revenues before reimbursements to grow 8% to 10%; and,
EBITDA¹ to be 26.3% to 26.8% of revenues before reimbursements.

For the full fiscal year 2026 as compared to fiscal year 2025, Exponent anticipates:

Revenues before reimbursements to grow 10% to 11%; and,
EBITDA¹ to be 28.0% to 28.3% of revenues before reimbursements.

“Rapid innovation continues to reshape industries as companies race to make physical products more intelligent, while expectations for safety, reliability, and performance continue to rise. Exponent is built for this moment. We help clients navigate these increasingly complex challenges, whether validating AI-enabled systems, strengthening critical infrastructure, or understanding how people interact with the technologies around them. Across these areas, our integrated platform brings the scientific and engineering expertise needed to deliver explainability, clarity, and trust. This distinctive ecosystem, together with strong long-term growth drivers, positions Exponent to deliver sustainable value for our clients and shareholders,” concluded Dr. Corrigan.

Today’s Conference Call Information

Exponent will discuss its financial results in more detail on a conference call today, Thursday, October 29, 2026, starting at 4:30 p.m. Eastern Time / 1:30 p.m. Pacific Time. The audio of the conference call is available by dialing (844) 481-2781 or (412) 317-0672. A live webcast of the call will be available on the Investor Relations section of the Company’s website at www.exponent.com/investors. For those unable to listen to the live webcast, a replay of the call will also be available on the Exponent website, or by dialing (855) 669-9658 or (412) 317-0088 and entering passcode 5957331#.

Use of non-GAAP Financial Measures ¹

EBITDA is a non-GAAP financial measure defined by the Company as net income before income taxes, interest income, depreciation, and amortization. EBITDAS is a non-GAAP financial measure defined by the Company as EBITDA before stock-based compensation. The Company regards EBITDA and EBITDAS as useful measures of operating performance and cash flow to complement operating income, net income, and other GAAP financial performance measures. Additionally, management believes that EBITDA and EBITDAS provide meaningful comparisons of past, present, and future operating results. Generally, a non-GAAP financial measure is a numerical measure of a company’s performance, financial position, or cash flow that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with GAAP. These measures, however, should be considered in addition to, and not as a substitute or superior to, operating income, cash flows, or other measures of financial performance prepared in accordance with GAAP.

Exponent has provided its outlook regarding EBITDA as a percentage of revenues before reimbursements. The Company has not reconciled this non-GAAP financial measure to the corresponding GAAP financial measure because guidance for the various reconciling items is not provided and the Company is unable to estimate with reasonable certainty the effect of these items without unreasonable effort. For example, the Company is unable to estimate with reasonable certainty the impact of equity awards on Exponent’s taxes without unreasonable effort. These items are uncertain, depend on various factors, and may have a material effect on Exponent’s results computed in accordance with GAAP. A reconciliation between the historical GAAP and non-GAAP financial measures presented in this release is provided in the financial tables at the end of this release.

About Exponent

Exponent may be reached at (888) 656-EXPO, info@exponent.com, or www.exponent.com.

Forward Looking Statements

Source: Exponent, Inc.

EXPONENT, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
For the Quarters Ended October 2, 2026 and October 3, 2025
(unaudited)
(in thousands, except per share data)


			Quarter Ended				Nine Months Ended
			October 2,		October 3,		October 2,		October 3,
			2026		2025		2026		2025

Revenues
	Revenues before reimbursements		$	153,063	$	137,073	$	453,740	$	407,378
	Reimbursements			20,670		10,047		57,908		27,211

		Revenues		173,733		147,120		511,648		434,589

Operating expenses
	Compensation and related expenses			90,038		87,726		282,018		261,103
	Other operating expenses			13,814		12,655		39,504		36,822
	Reimbursable expenses			20,670		10,047		57,908		27,211
	General and administrative expenses			7,334		7,654		20,940		18,806
				131,856		118,082		400,370		343,942

		Operating income		41,877		29,038		111,278		90,647

Other income (expense), net
	Interest income, net			668		2,312		3,102		7,370
	Miscellaneous income (expense), net			448		7,267		11,718		15,175
				1,116		9,579		14,820		22,545

		Income before income taxes		42,993		38,617		126,098		113,192

Income taxes				12,050		10,573		36,191		31,945

		Net income	$	30,943	$	28,044	$	89,907	$	81,247


Net income per share:
	Basic		$	0.64	$	0.55	$	1.84	$	1.59
	Diluted		$	0.64	$	0.55	$	1.83	$	1.58

Shares used in per share computations:
	Basic			48,131		50,872		48,891		51,113
	Diluted			48,422		51,179		49,195		51,454

EXPONENT, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
October 2, 2026 and January 2, 2026
(unaudited)
(in thousands)


				October 2,			January 2,
					2026			2026
			Assets
Current assets:
	Cash and cash equivalents			$	114,689		$	221,930
	Accounts receivable, net				209,604			181,507
	Prepaid expenses and other assets				28,976			24,143
		Total current assets			353,269			427,580
Property, equipment and leasehold improvements, net					69,900			71,981
Operating lease right-of-use asset					68,208			73,376
Goodwill					8,607			8,607
Other assets					193,092			195,975
				$	693,076		$	777,519

			Liabilities and Stockholders’ Equity
Current liabilities:
	Accounts payable and accrued liabilities			$	34,733		$	30,942
	Accrued payroll and employee benefits				121,993			121,302
	Deferred revenues				18,503			18,868
	Operating lease liability				6,533			6,890
		Total current liabilities			181,762			178,002
Other liabilities					128,822			133,232
Operating lease liability					74,606			75,944
		Total liabilities			385,190			387,178

Stockholders’ equity:
	Common stock				66			66
	Additional paid-in capital				392,784			369,747
	Accumulated other comprehensive loss				(2,496	)		(2,290	)
	Retained earnings				712,318			668,423
	Treasury stock, at cost				(794,786	)		(645,605	)
			Total stockholders’ equity		307,886			390,341
				$	693,076		$	777,519

EXPONENT, INC.
EBITDA and EBITDAS (1)
For the Quarters Ended October 2, 2026 and October 3, 2025
(unaudited)
(in thousands)


			Quarter Ended						Nine Months Ended
			October 2,			October 3,			October 2,			October 3,
				2026			2025			2026			2025

Net Income			$	30,943		$	28,044		$	89,907		$	81,247

Add back (subtract):

	Income taxes			12,050			10,573			36,191			31,945
	Interest income, net			(668	)		(2,312	)		(3,102	)		(7,370	)
	Depreciation and amortization			2,651			2,532			7,844			7,544

		EBITDA (1)		44,976			38,837			130,840			113,366

	Stock-based compensation			6,694			5,341			22,432			18,767

		EBITDAS (1)	$	51,670		$	44,178		$	153,272		$	132,133



(1) EBITDA is a non-GAAP financial measure defined by the Company as net income before income taxes, interest income, depreciation and amortization. EBITDAS is a non-GAAP financial measure defined by the Company as EBITDA before stock-based compensation. The Company regards EBITDA and EBITDAS as useful measures of operating performance and cash flow to complement operating income, net income and other GAAP financial performance measures. Additionally, management believes that EBITDA and EBITDAS provide meaningful comparisons of past, present and future operating results. Generally, a non-GAAP financial measure is a numerical measure of a company’s performance, financial position or cash flow that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with GAAP. These measures, however, should be considered in addition to, and not as a substitute or superior to, operating income, cash flows, or other measures of financial performance prepared in accordance with GAAP.

Posted in UncategorizedTagged GlobeNewswire

Merit Medical Reports Third Quarter 2026 Results: Delivers 9% Organic Constant Currency Revenue Growth and Raises Full-Year 2026 Guidance

Posted on October 29, 2026 by Ravi Shankar

Financial Highlights†

Reported revenue of $416.2 million, up 8.4%
Constant currency revenue* and constant currency revenue, organic* up 8% and up 9%, respectively
GAAP operating margin of 14.1%, compared to 11.1% in prior year period
Non-GAAP operating margin* of 21.3%, compared to 19.7% in prior year period
GAAP EPS $0.70, up 51%
Non-GAAP EPS* $1.12, up 22%
Cash flow from operations of $175.2 million year-to-date
Free cash flow* generation of $129.5 million year-to-date

† Comparisons above are calculated for the current quarter compared with the third quarter of 2025, unless otherwise specified. Amounts stated in this release are rounded, while percentages are calculated from the underlying amounts.

* Constant currency revenue; constant currency revenue, organic; non-GAAP gross profit and margin; non-GAAP operating income and margin; non-GAAP net income; non-GAAP EPS; and free cash flow figures (used here and below) are non-GAAP financial measures. A reconciliation of these financial measures to their most directly comparable GAAP financial measures is included under the heading “Non-GAAP Financial Measures” below.

SOUTH JORDAN, Utah, Oct. 29, 2026 (GLOBE NEWSWIRE) — Merit Medical Systems, Inc. (NASDAQ: MMSI), a leading global manufacturer and marketer of healthcare technology, today announced financial results for the three and nine-month periods ended September 30, 2026.

“Merit delivered third quarter financial results that exceeded the high end of our expectations, driven primarily by 9% organic, constant currency revenue growth, excluding the impact of a strategic divestiture,” said Martha G. Aronson, Merit’s President and CEO. “We experienced strong revenue growth trends in the U.S. and better-than-expected demand for Merit’s products across both our Foundational and our Therapeutic platforms. We also delivered strong growth in both our non-GAAP operating profit and our non-GAAP earnings per share, which increased 17% and 22%, respectively, year-over-year.” Ms. Aronson continued: “We have raised our 2026 revenue and non-GAAP earnings per share guidance to reflect the stronger-than-expected results over the first nine months of 2026 and remain confident in our team’s ability to execute, with attractive constant currency growth, improving profitability, and solid cash flow generation this year. Our team remains focused on delivering our Continued Growth Initiative financial targets for the three-year period ending December 31, 2026, and, in parallel, we are finalizing our longer-term strategic plan focused on identifying opportunities to better position the company for sustainable growth, enhanced profitability and value creation for our shareholders.”

Merit’s revenue by product category for the three and nine-month periods ended September 30, 2026 and 2025 was as follows (unaudited; in thousands, except for percentages):


	Three Months Ended
	Reported										Constant Currency*
	September 30,							Impact of foreign			September 30,
	2026		2025		% Change			exchange			2026		% Change
Foundational
Access	$	157,922	$	151,508	4		%	$	(1,018	)	$	156,904	4		%
OEM		46,278		41,499	12		%		47			46,325	12		%
Procedural Solutions		27,162		32,287	(16	)	%		184			27,346	(15	)	%
Vascular Intervention		42,367		35,391	20		%		(166	)		42,201	19		%
Other		2,006		221	808		%		547			2,553	1,055		%
Total Foundational		275,735		260,906	6		%		(406	)		275,329	6		%

Therapeutic
Cardiac Therapies		27,547		25,530	8		%		(53	)		27,494	8		%
Endoscopy		23,428		17,631	33		%		36			23,464	33		%
OEM		13,089		9,953	32		%		(16	)		13,073	31		%
Oncology		27,085		23,263	16		%		(24	)		27,061	16		%
Renal Therapies		13,550		13,808	(2	)	%		(123	)		13,427	(3	)	%
Vascular Intervention		35,810		33,066	8		%		(496	)		35,314	7		%
Total Therapeutic		140,509		123,251	14		%		(676	)		139,833	13		%

Total	$	416,244	$	384,157	8		%	$	(1,082	)	$	415,162	8		%


	Nine Months Ended
	Reported										Constant Currency *
	September 30,							Impact of foreign			September 30,
	2026		2025		% Change			exchange			2026		% Change
Foundational
Access	$	470,832	$	438,028	7		%	$	(8,538	)	$	462,294	6		%
OEM		134,156		128,140	5		%		(217	)		133,939	5		%
Procedural Solutions		81,599		92,597	(12	)	%		166			81,765	(12	)	%
Vascular Intervention		123,057		103,195	19		%		(1,638	)		121,419	18		%
Other		2,531		1,710	48		%		3,296			5,827	241		%
Total Foundational		812,175		763,670	6		%		(6,931	)		805,244	5		%

Therapeutic
Cardiac Therapies		83,461		69,019	21		%		(1,747	)		81,714	18		%
Endoscopy		68,767		52,582	31		%		56			68,823	31		%
OEM		33,365		30,830	8		%		(66	)		33,299	8		%
Oncology		76,367		69,257	10		%		(550	)		75,817	9		%
Renal Therapies		37,775		40,014	(6	)	%		(515	)		37,260	(7	)	%
Vascular Intervention		105,054		96,598	9		%		(2,252	)		102,802	6		%
Total Therapeutic		404,789		358,300	13		%		(5,074	)		399,715	12		%

Total	$	1,216,964	$	1,121,970	8		%	$	(12,005	)	$	1,204,959	7		%

Financial Summary:

GAAP gross margin was 48.2%, compared to 48.5% for the third quarter of 2025. Non-GAAP gross margin* was 52.8%, compared to 53.6% for the third quarter of 2025.

GAAP operating margin was 14.1%, compared to 11.1% for the third quarter of 2025. Non-GAAP operating margin* was 21.3%, compared to 19.7% for the third quarter of 2025.

GAAP net income was $42.3 million, or $0.70 per share, compared to $27.8 million, or $0.46 per share, for the third quarter of 2025. Non-GAAP net income* was $67.4 million, or $1.12 per share, compared to $54.9 million, or $0.92 per share, for the third quarter of 2025.

As of September 30, 2026, Merit had cash and cash equivalents of $503.6 million and total debt obligations of $747.5 million, compared to cash and cash equivalents of $446.4 million and total debt obligations of $747.5 million as of December 31, 2025. Merit had available borrowing capacity of approximately $697 million as of September 30, 2026.

Fiscal Year 2026 Financial Guidance

Based upon the information currently available to Merit’s management, for the twelve-month period ending December 31, 2026, absent the potential impact of trade policies and related actions implemented by the U.S. and other countries subsequent to today’s date, material acquisitions, non-recurring transactions or other factors beyond Merit’s current expectations, Merit anticipates the following financial results:

Revenue and Earnings Guidance*

	Updated Guidance		Prior Guidance⁽²⁾
	Year Ending	% Change	Year Ending	% Change
Financial Measure	December 31, 2026	Y/Y	December 31, 2026	Y/Y
Total Revenue	$1.635 – $1.642 billion	8% – 8%	$1.631 – $1.643 billion	8% – 8%

Non-GAAP Earnings Per Share⁽¹⁾	$4.33 – $4.37	13% – 14%	$4.25 – $4.35	11% – 14%

*Percentage figures approximated; dollar figures may not foot due to rounding.

(1) Merit’s non-GAAP earnings per share reflect the dilutive impact of its 3.00% Convertible Senior Notes due 2029 (the “Convertible Notes”) calculated using the if-converted method of approximately $0.01 per share for the year ending December 31, 2026. Any offsetting impacts of the capped call associated with the Convertible Notes are not considered.

(2) “Prior Guidance” reflects Merit’s full-year 2026 financial guidance, previously introduced on July 30, 2026.

Merit does not provide guidance for GAAP reported financial measures (other than revenue) or a reconciliation of forward-looking non-GAAP financial measures to the most directly comparable GAAP reported financial measures (other than revenue) because Merit is unable to predict with reasonable certainty the financial impact of various items which could impact Merit’s future financial results, such as expenses attributable to acquisitions or other extraordinary transactions, non-cash expenses related to amortization or write-off of previously acquired tangible and intangible assets, certain employee termination benefits, performance-based stock compensation expenses, expenses resulting from non-ordinary course litigation or administrative proceedings and resulting settlements, governmental proceedings, and changes in governmental or industry regulations. These items are uncertain, depend on various factors, and could have a material impact on GAAP reported results for the guidance period. For the same reasons, Merit is unable to address the significance of the unavailable information, which could be material to future results. Specifically, Merit is not, without unreasonable effort, able to reasonably predict the amount and impact of these items and Merit believes inclusion of the most comparable GAAP financial measure, and a reconciliation of these forward-looking non-GAAP measures to their GAAP counterparts could be confusing to investors or cause undue reliance.

Merit’s financial guidance for the year ending December 31, 2026 is subject to risks and uncertainties identified in this release and Merit’s filings with the SEC. This guidance is based on information and estimates available to Merit as of October 29, 2026. Should known or unknown risks or uncertainties materialize or should underlying assumptions prove inaccurate, actual results will likely vary, and could vary materially, from past results and those anticipated, estimated or projected.

CONFERENCE CALL

As previously announced, Merit will hold its investor conference call today, Thursday, October 29, 2026, at 4:30 p.m., Eastern Time, to discuss its results for the third quarter and provide an operational update. To access the conference call, please pre-register using the following link. Registrants will receive confirmation with dial-in details. A live webcast and slide deck will also be available at merit.com.


CONSOLIDATED BALANCE SHEETS (in thousands)

	September 30,			December 31,
	2026			2025
ASSETS	(Unaudited)
Current Assets
Cash and cash equivalents	$	503,551		$	446,404
Trade receivables, net		221,866			203,710
Other receivables		37,875			17,773
Inventories		391,022			333,705
Prepaid expenses and other current assets		35,188			31,493
Prepaid income taxes		5,030			4,941
Income tax refund receivables		4,283			2,128
Total current assets		1,198,815			1,040,154

Property and equipment, net		437,347			428,401
Intangible assets, net		591,204			537,654
Goodwill		537,135			506,837
Deferred income tax assets		7,273			7,049
Right-of-use operating lease assets		84,379			87,600
Other assets		68,753			78,227
Total Assets	$	2,924,906		$	2,685,922

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities
Trade payables	$	66,286		$	60,551
Accrued expenses		174,024			159,486
Short-term operating lease liabilities		10,382			10,876
Income taxes payable		14,391			8,851
Total current liabilities		265,083			239,764

Long-term debt		737,404			734,038
Deferred income tax liabilities		37,216			19,665
Liabilities related to unrecognized tax benefits		2,248			2,248
Deferred compensation payable		19,373			17,542
Deferred credits		1,321			1,398
Long-term operating lease liabilities		74,273			76,658
Other long-term obligations		43,437			10,306
Total liabilities		1,180,355			1,101,619

Stockholders’ Equity
Common stock		808,930			763,909
Retained earnings		946,139			824,030
Accumulated other comprehensive loss		(10,518	)		(3,636	)
Total stockholders’ equity		1,744,551			1,584,303
Total Liabilities and Stockholders’ Equity	$	2,924,906		$	2,685,922


CONSOLIDATED STATEMENTS OF INCOME (Unaudited, in thousands except per share amounts)

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2026			2025			2026			2025
Net sales	$	416,244		$	384,157		$	1,216,964		$	1,121,970
Cost of sales		215,613			197,746			616,370			579,052
Gross profit		200,631			186,411			600,594			542,918

Operating expenses:
Selling, general and administrative		119,511			119,801			366,950			340,384
Research and development		22,393			23,966			70,391			70,811
Contingent consideration (benefit) expense		(36	)		32			(70	)		1,198
Total operating expenses		141,868			143,799			437,271			412,393

Income from operations		58,763			42,612			163,323			130,525

Other income (expense):
Interest income		4,128			3,615			11,780			11,166
Interest expense		(7,333	)		(6,754	)		(25,977	)		(20,097	)
Other income (expense) — net		227			(933	)		11,519			(1,717	)
Total other expense — net		(2,978	)		(4,072	)		(2,678	)		(10,648	)

Income before income taxes		55,785			38,540			160,645			119,877

Income tax expense		13,474			10,785			38,536			29,394

Net income	$	42,311		$	27,755		$	122,109		$	90,483

Earnings per common share
Basic	$	0.71		$	0.47		$	2.05		$	1.53
Diluted	$	0.70		$	0.46		$	2.03		$	1.49

Weighted average shares outstanding
Basic		59,806			59,245			59,666			59,095
Diluted		60,379			59,919			60,134			60,604


CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited, in thousands)

	Nine Months Ended
	September 30,
	2026			2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	122,109		$	90,483
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		93,383			91,629
Gain on disposition of a business		(12,557	)		(249	)
Amortization of right-of-use operating lease assets		8,771			8,693
Fair value adjustments related to contingent consideration liabilities		(70	)		1,198
Stock-based compensation expense		35,497			33,563
Other adjustments		6,950			5,123
Changes in operating assets and liabilities, net of acquisitions and divestitures		(78,853	)		(31,579	)
Total adjustments		53,121			108,378
Net cash, cash equivalents, and restricted cash provided by operating activities		175,230			198,861

CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures for property and equipment		(45,686	)		(57,252	)
Proceeds from asset and business dispositions		25,555			298
Cash paid for notes receivable and other investments		(9,242	)		(14,936	)
Cash paid in acquisitions, net of cash acquired		(93,049	)		(122,834	)
Other investing, net		(2,293	)		(2,327	)
Net cash, cash equivalents, and restricted cash used in investing activities		(124,715	)		(197,051	)

CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock		16,272			22,179
Contingent payments related to acquisitions		(3,030	)		(2,645	)
Payment of taxes related to an exchange of common stock		(6,973	)		(8,597	)
Net cash, cash equivalents, and restricted cash provided by financing activities		6,269			10,937
Effect of exchange rates on cash		454			3,047
Net increase in cash, cash equivalents and restricted cash		57,238			15,794

CASH, CASH EQUIVALENTS AND RESTRICTED CASH:
Beginning of period		448,549			378,767
End of period	$	505,787		$	394,561

RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO THE CONSOLIDATED BALANCE SHEETS:
Cash and cash equivalents		503,551			392,457
Restricted cash reported in prepaid expenses and other current assets		2,236			2,104
Total cash, cash equivalents and restricted cash	$	505,787		$	394,561

Non-GAAP Financial Measures

Although Merit’s financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”), Merit’s management believes that the non-GAAP financial measures referenced in this release may provide investors with useful information regarding the underlying business trends and performance of Merit’s ongoing operations and can be useful for period-over-period comparisons of such operations. Non-GAAP financial measures used in this release include:

constant currency revenue;
constant currency revenue, organic;
non-GAAP gross profit and margin;
non-GAAP operating income and margin;
non-GAAP net income;
non-GAAP earnings per share; and
free cash flow.

Merit’s management team uses these non-GAAP financial measures to evaluate Merit’s profitability and efficiency, to compare operating and financial results to prior periods, to evaluate changes in the results of its operating segment, and to measure and allocate financial resources internally. However, Merit’s management does not consider such non-GAAP measures in isolation or as an alternative to measures determined in accordance with GAAP.

Readers should consider non-GAAP measures used in this release in addition to, not as a substitute for, financial reporting measures prepared in accordance with GAAP. These non-GAAP financial measures generally exclude some, but not all, items that may affect Merit’s net income. In addition, they are subject to inherent limitations as they reflect the exercise of judgment by management about which items are excluded. Merit believes it is useful to exclude such items in the calculation of non-GAAP gross profit and margin, non-GAAP operating income and margin, non-GAAP net income, and non-GAAP earnings per share (in each case, as further illustrated in the reconciliation tables below) because such amounts in any specific period may not directly correlate to the underlying performance of Merit’s business operations and can vary significantly between periods as a result of factors such as acquisition or other extraordinary transactions, non-cash expenses related to amortization or write-off of previously acquired tangible and intangible assets, certain employee termination benefits, expenses resulting from non-ordinary course litigation or administrative proceedings and resulting settlements, governmental proceedings or changes in tax or industry regulations, gains or losses on disposal of certain assets, equity method investment loss (income) from equity investees, and debt issuance costs. Merit may incur similar types of expenses in the future, and the non-GAAP financial information included in this release should not be viewed as a statement or indication that these types of expenses will not recur. Additionally, the non-GAAP financial measures used in this release may not be comparable with similarly titled measures of other companies. Merit urges readers to review the reconciliations of its non-GAAP financial measures to their most directly comparable GAAP financial measures included herein, and not to rely on any single financial measure to evaluate Merit’s business or results of operations.

Constant Currency Revenue

Merit’s constant currency revenue is prepared by converting the current-period reported revenue of subsidiaries whose functional currency is a currency other than the U.S. dollar at the applicable foreign exchange rates in effect during the comparable prior-year period and adjusting for the effects of hedging transactions on reported revenue, which are recorded in the U.S. dollar. The constant currency revenue adjustment of $(1.1) million and $(12.0) million to reported revenue for the three and nine-month periods ended September 30, 2026 was calculated using the applicable average foreign exchange rates for the three and nine-month periods ended September 30, 2025.

Constant Currency Revenue, Organic

Merit’s constant currency revenue, organic, is defined, with respect to prior fiscal year periods, as GAAP revenue less revenue from certain divestitures. For the three and nine-month periods ended September 30, 2025, Merit’s constant currency revenue, organic, excludes revenues attributable to the DualCap® product line which Merit sold to Health Line International Corporation (“Health Line”) on February 17, 2026 (the “DualCap Divestiture”).

With respect to current fiscal year periods, constant currency revenue, organic, is defined as constant currency revenue (as defined above), less revenue from certain acquisitions and divestitures. For the three-month period ended September 30, 2026, Merit’s constant currency revenue, organic, excludes revenues attributable to products acquired in connection with (i) Merit’s acquisition of View Point Medical, Inc. (“View Point”) in April 2026 (the “View Point Merger”) and (ii) the assets acquired from Pentax of America, Inc. related to the C2 CryoBalloon™ device in November 2025 (the “C2 Acquisition”). For the nine-month period ended September 30, 2026, Merit’s constant currency revenue, organic, excludes revenues attributable to products acquired in connection with (i) the View Point Merger, (ii) the C2 Acquisition and (iii) Merit’s acquisition of Biolife Delaware, L.L.C. (“Biolife”) in May 2025 (the “Biolife Merger”) and excludes revenues attributable to the DualCap Divestiture.

Non-GAAP Gross Profit and Margin

Non-GAAP gross profit is calculated by reducing GAAP cost of sales by amounts recorded for amortization of intangible assets and inventory mark-up related to acquisitions. Non-GAAP gross margin is calculated by dividing non-GAAP gross profit by reported net sales.

Non-GAAP Operating Income and Margin

Non-GAAP operating income is calculated by adjusting GAAP operating income for certain items which are deemed by Merit’s management to be outside of core operations and vary in amount and frequency among periods, such as expenses related to acquisitions or other extraordinary transactions, non-cash expenses related to amortization or write-off of previously acquired tangible and intangible assets, certain employee termination benefits, performance-based stock compensation expenses, expenses resulting from non-ordinary course litigation or administrative proceedings and resulting settlements, governmental proceedings, and changes in governmental or industry regulations, as well as other items referenced in the tables below. Non-GAAP operating margin is calculated by dividing non-GAAP operating income by reported net sales.

Non-GAAP Net Income

Non-GAAP net income is calculated by adjusting GAAP net income for the items set forth in the definition of non-GAAP operating income above, as well as for expenses related to Merit’s long-term debt, gains or losses on disposal of certain assets, equity method investment loss (income) from equity investees, and other items set forth in the tables below.

Non-GAAP EPS

Non-GAAP EPS is defined as non-GAAP net income divided by the diluted shares outstanding for the corresponding period.

Free Cash Flow

Free cash flow is defined as cash flow from operations calculated in accordance with GAAP, less capital expenditures for property and equipment calculated in accordance with GAAP, as set forth in the consolidated statement of cash flows.

Other Non-GAAP Financial Measure Reconciliations

The following tables set forth supplemental financial data and corresponding reconciliations of non-GAAP financial measures to Merit’s corresponding financial measures prepared in accordance with GAAP, in each case, for the three and nine-month periods ended September 30, 2026 and 2025. The non-GAAP income adjustments referenced in the following tables do not reflect non-performance-based stock compensation expense of $6.4 million and $4.6 million for the three-month periods ended September 30, 2026 and 2025, respectively, and $15.9 million and $13.9 million for the nine-month periods ended September 30, 2026 and 2025, respectively.

Reconciliation of GAAP Net Income to Non-GAAP Net Income
(Unaudited, in thousands except per share amounts)

	Three Months Ended
	September 30, 2026
	Pre-Tax			Tax Impact			After-Tax			Per Share Impact
GAAP net income	$	55,785		$	(13,474	)	$	42,311		$	0.70

Non-GAAP adjustments:
Cost of Sales
Amortization of intangibles		18,996			(4,484	)		14,512			0.24
Operating Expenses
Contingent consideration benefit		(36	)		(14	)		(50	)		(0.00	)
Amortization of intangibles		2,540			(600	)		1,940			0.03
Performance-based share-based compensation (a)		7,173			(665	)		6,508			0.11
Corporate restructuring (b)		301			(71	)		230			0.00
Acquisition-related		280			(11	)		269			0.00
Medical Device Regulation expenses (c)		519			(123	)		396			0.01
Other (Income) Expense
Long-term debt costs (e)		1,414			(334	)		1,080			0.02
Other non-operating loss (f)		254			(60	)		194			0.00

Non-GAAP net income	$	87,226		$	(19,836	)	$	67,390		$	1.12

Diluted shares											60,379

	Three Months Ended
	September 30, 2025
	Pre-Tax			Tax Impact			After-Tax			Per Share Impact
GAAP net income	$	38,540		$	(10,785	)	$	27,755		$	0.46

Non-GAAP adjustments:
Cost of Sales
Amortization of intangibles		19,212			(4,539	)		14,673			0.24
Inventory mark-up related to acquisitions		183			(43	)		140			0.00
Operating Expenses
Contingent consideration expense		32			(5	)		27			0.00
Amortization of intangibles		2,560			(604	)		1,956			0.03
Performance-based share-based compensation (a)		9,028			(1,413	)		7,615			0.13
Corporate restructuring (b)		286			(67	)		219			0.00
Acquisition-related		(68	)		16			(52	)		(0.00	)
Medical Device Regulation expenses (c)		1,655			(391	)		1,264			0.02
Other (d)		74			(17	)		57			0.00
Other (Income) Expense
Long-term debt costs (e)		1,414			(334	)		1,080			0.02
Other non-operating loss (f)		260			(61	)		199			0.00

Non-GAAP net income	$	73,176		$	(18,243	)	$	54,933		$	0.92

Diluted shares											59,919

_____________________
Note: Certain per-share impacts may not sum to totals due to rounding.

Reconciliation of GAAP Net Income to Non-GAAP Net Income
(Unaudited, in thousands except per share amounts)

	Nine Months Ended
	September 30, 2026
	Pre-Tax			Tax Impact			After-Tax			Per Share Impact
GAAP net income	$	160,645		$	(38,536	)	$	122,109		$	2.03

Non-GAAP adjustments:
Cost of Sales
Amortization of intangibles		55,941			(13,206	)		42,735			0.71
Operating Expenses
Contingent consideration benefit		(70	)		(9	)		(79	)		(0.00	)
Amortization of intangibles		7,490			(1,768	)		5,722			0.10
Performance-based share-based compensation (a)		19,602			(1,727	)		17,875			0.30
Corporate restructuring (b)		2,460			(581	)		1,879			0.03
Acquisition-related		7,091			(916	)		6,175			0.10
Medical Device Regulation expenses (c)		2,589			(611	)		1,978			0.03
Other (Income) Expense
Long-term debt costs (e)		9,305			(2,197	)		7,108			0.12
Gain on disposal of business unit		(12,502	)		1,520			(10,982	)		(0.18	)
Other non-operating loss (f)		1,079			(267	)		812			0.01

Non-GAAP net income	$	253,630		$	(58,298	)	$	195,332		$	3.25

Diluted shares											60,134

	Nine Months Ended
	September 30, 2025
	Pre-Tax		Tax Impact			After-Tax			Per Share Impact
GAAP net income	$	119,877	$	(29,394	)	$	90,483		$	1.49

Non-GAAP adjustments:
Cost of Sales
Amortization of intangibles		55,798		(13,184	)		42,614			0.70
Inventory mark-up related to acquisitions		250		(59	)		191			0.00
Operating Expenses
Contingent consideration expense		1,198		29			1,227			0.02
Amortization of intangibles		7,497		(1,771	)		5,726			0.09
Performance-based share-based compensation (a)		19,681		(2,344	)		17,337			0.29
Corporate restructuring (b)		2,873		(678	)		2,195			0.04
Acquisition-related		2,088		(2	)		2,086			0.03
Medical Device Regulation expenses (c)		4,883		(1,153	)		3,730			0.06
Other (d)		103		(24	)		79			0.00
Other (Income) Expense
Long-term debt costs (e)		4,242		(1,002	)		3,240			0.05
Other non-operating loss (f)		11		(61	)		(50	)		(0.00	)

Non-GAAP net income	$	218,501	$	(49,643	)	$	168,858		$	2.79

Diluted shares										60,604

_____________________
Note: Certain per-share impacts may not sum to totals due to rounding.

Reconciliation of Reported Operating Income to Non-GAAP Operating Income
(Unaudited, in thousands except percentages)

	Three Months Ended						Three Months Ended						Nine Months Ended						Nine Months Ended
	September 30, 2026						September 30, 2025						September 30, 2026						September 30, 2025
	Amounts			% Sales			Amounts			% Sales			Amounts			% Sales			Amounts		% Sales
Net Sales as Reported	$	416,244					$	384,157					$	1,216,964					$	1,121,970

GAAP Operating Income		58,763		14.1		%		42,612		11.1		%		163,323		13.4		%		130,525	11.6	%
Cost of Sales
Amortization of intangibles		18,996		4.6		%		19,212		5.0		%		55,941		4.6		%		55,798	5.0	%
Inventory mark-up related to acquisitions		—		—				183		0.0		%		—		—				250	0.0	%
Operating Expenses
Contingent consideration (benefit) expense		(36	)	(0.0	)	%		32		0.0		%		(70	)	(0.0	)	%		1,198	0.1	%
Amortization of intangibles		2,540		0.6		%		2,560		0.7		%		7,490		0.6		%		7,497	0.7	%
Performance-based share-based compensation (a)		7,173		1.7		%		9,028		2.4		%		19,602		1.6		%		19,681	1.8	%
Corporate restructuring (b)		301		0.1		%		286		0.1		%		2,460		0.2		%		2,873	0.3	%
Acquisition-related		280		0.1		%		(68	)	(0.0	)	%		7,091		0.6		%		2,088	0.2	%
Medical Device Regulation expenses (c)		519		0.1		%		1,655		0.4		%		2,589		0.2		%		4,883	0.4	%
Other (d)		—		—				74		0.0		%		—		—				103	0.0	%

Non-GAAP Operating Income	$	88,536		21.3		%	$	75,574		19.7		%	$	258,426		21.2		%	$	224,896	20.0	%

_____________________
Note: Certain percentages may not sum to totals due to rounding.

(a)	Represents performance-based share-based compensation expense, including stock-settled and cash-settled awards.
(b)	Includes employee termination benefits associated with activities related to corporate restructuring initiatives and costs to terminate certain distribution contracts from the Biolife Merger.
(c)	Represents incremental expenses incurred to comply with the E.U. Medical Device Regulation.
(d)	Represents costs to comply with Merit’s corporate integrity agreement with the U.S. Department of Justice.
(e)	Represents costs associated with the Convertible Notes including the amortization of debt issuance costs and, for the nine-months ended September 30, 2026, a one-time charge for additional interest incurred pursuant to Merit’s obligation to remove restrictive legends.
(f)	Includes equity method investment loss from equity investees.

Reconciliation of Reported Revenue to Constant Currency Revenue (Non-GAAP), and Constant Currency Revenue, Organic (Non-GAAP)
(Unaudited, in thousands except percentages)

			Three Months Ended								Nine Months Ended
			September 30,								September 30,
	% Change		2026			2025			% Change		2026			2025
Reported Revenue	8.4	%	$	416,244		$	384,157		8.5	%	$	1,216,964		$	1,121,970

Add: Impact of foreign exchange				(1,082	)		—					(12,005	)		—

Constant Currency Revenue (a)	8.1	%	$	415,162		$	384,157		7.4	%	$	1,204,959		$	1,121,970

Less: Revenue from certain acquisitions				(2,634	)		—					(16,338	)		—
Less: Revenue from divestitures (b)				—			(5,228	)				(1,644	)		(15,440	)

Constant Currency Revenue, Organic (a)	8.9	%	$	412,528		$	378,929		7.3	%	$	1,186,977		$	1,106,530

_____________________
(a)	A non-GAAP financial measure. For a definition of this and other non-GAAP financial measures, see the section of this release entitled “Non-GAAP Financial Measures.”
(b)	On February 17, 2026, Merit consummated the DualCap Divestiture for consideration of $28 million, of which $25.5 million was paid to Merit at closing.

Reconciliation of Reported Gross Margin to Non-GAAP Gross Margin (Non-GAAP)
(Unaudited, as a percentage of reported revenue)

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2026		2025		2026		2025
Reported Gross Margin	48.2	%	48.5	%	49.4	%	48.4	%

Add back impact of:
Amortization of intangibles	4.6	%	5.0	%	4.6	%	5.0	%
Inventory mark-up related to acquisitions	—	%	0.0	%	—	%	0.0	%

Non-GAAP Gross Margin	52.8	%	53.6	%	53.9	%	53.4	%

_____________________
Note: Certain percentages may not sum to totals due to rounding.

Reconciliation of Reported Cash Flow from Operations to Free Cash Flow (Non-GAAP)
(Unaudited, in thousands)

	Nine Months Ended
	September 30,
	2026			2025
Reported Cash Flow from Operations	$	175,230		$	198,861

Less: Capital Expenditures		(45,686	)		(57,252	)

Free Cash Flow	$	129,544		$	141,609

Reconciliation of 2026 Net Sales Guidance – % Change from Prior Year (Constant Currency)

	Updated Guidance		Prior Guidance⁽¹⁾
	Low	High	Low	High
2026 Net Sales Guidance – % Change from Prior Year (GAAP)	7.9%	8.4%	7.6%	8.4%
Estimated impact of foreign currency exchange rate fluctuations	(0.8%)	(0.8%)	(0.8%)	(0.8%)
2026 Net Sales Guidance – % Change from Prior Year (Constant Currency)	7.0%	7.5%	6.8%	7.6%

_____________________
Note: Certain percentages may not sum to totals due to rounding.

(1) “Prior Guidance” reflects Merit’s full-year 2026 financial guidance, previously introduced on July 30, 2026.

ABOUT MERIT

Founded in 1987, Merit is engaged in the development, manufacture, and distribution of proprietary medical devices used in interventional, diagnostic, and therapeutic procedures, particularly in cardiology, radiology, oncology, critical care, and endoscopy. Merit serves customers worldwide with a domestic and international sales force and clinical support team totaling approximately 900 individuals. Merit employs approximately 7,500 people worldwide.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, among others:

statements preceded or followed by, or that include the words, “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “intends,” “seeks,” “believes,” “estimates,” “projects,” “forecasts,” “potential,” “target,” “continue,” “upcoming,” “optimistic” or other forms of these words or similar words or expressions, or the negative thereof or other comparable terminology;
statements that address Merit’s future operating performance or events or developments that Merit’s management expects or anticipates will occur, including, without limitation, any statements regarding Merit’s projected revenues, earnings or other future financial measures, Merit’s plans and objectives for future operations, Merit’s proposed new products or services, the integration, development or commercialization of the business or any assets acquired from other parties, future economic conditions or performance, the implementation of, and results which may be achieved through, Merit’s Continued Growth Initiatives Program or other business optimization initiatives, and any statements of assumptions underlying any of the foregoing; and
statements regarding Merit’s past performance, efforts, or results about which inferences or assumptions may be made, including statements preceded or followed by the words “preliminary,” “initial,” “potential,” “possible,” “diligence,” “industry-leading,” “compliant,” “indications” or “early feedback” or other forms of these words or similar words or expressions, or the negative thereof or other comparable terminology.

The forward-looking statements contained in this release are based on Merit management’s current expectations and assumptions regarding future events or outcomes. If underlying expectations or assumptions prove inaccurate, or risks or uncertainties materialize, actual results will likely differ, and may differ materially, from Merit’s expectations reflected in any forward-looking statements. Financial estimates are subject to change and are not intended to be relied upon as predictions of future operating results. Investors are cautioned not to unduly rely on any such forward-looking statements.

The following are some of the important risks and uncertainties that could cause Merit’s actual results to differ from management’s expectations in any forward-looking statements: risks and uncertainties arising from the conflict among the United States, Israel and Iran and related geopolitical instability; risks and uncertainties associated with Merit’s acquisition of Solo Pace, Inc. (“Solo Pace”) and SOLO PACE CONTROL and FUSION systems and related technology in October 2026; risks and uncertainties associated with Merit’s integration of the Solo Pace business, assets and operations into its operations and its ability to achieve anticipated financial results, product development and other anticipated benefits of the acquisition; uncertainties as to whether Merit will achieve revenue or other financial performance consistent with its forecasts projected for the Solo Pace acquisition; risks and uncertainties regarding trade policies or related actions implemented by the United States or other countries, including existing, proposed, prospective or invalidated tariffs, duties or other measures; risks and uncertainties associated with Merit’s integration of businesses or assets acquired from third parties, including the View Point Merger in April 2026, the C2 Acquisition in November 2025 and the Biolife Merger in May 2025, and Merit’s ability to achieve the anticipated operating and financial results, product development and other anticipated benefits of such acquisitions; effects of Merit’s 3.00% Convertible Senior Notes due 2029 on Merit’s net income and earnings per share performance; disruptions in Merit’s supply chain, manufacturing or sterilization processes; U.S. and global political, economic, competitive, reimbursement and regulatory conditions; risks and uncertainties associated with Merit’s executive succession and leadership transition; modification or limitation of, or policies and procedures associated with, governmental or private insurance reimbursement policies; reduced availability of, and price increases associated with, components and other raw materials; increases in transportation expenses; risks relating to Merit’s potential inability to successfully manage growth through acquisitions generally, including the inability to effectively integrate acquired operations or products or commercialize technology developed internally or acquired through completed, proposed or future transactions; prospective financial obligations or other uncertainties associated with Merit’s divestiture of its DualCap® anti-microbial cap product line in February 2026; fluctuations in interest or foreign currency exchange rates and inflation; cybersecurity events; government scrutiny and regulation of the medical device industry; difficulties relating to development, testing and regulatory approval, clearance and maintenance of Merit’s products; the safety, efficacy and patient and physician adoption of Merit’s products; the ability to fully enroll and the outcomes of ongoing and future clinical trials and market studies relating to Merit’s products; litigation and other legal proceedings affecting Merit; risks and possible effects of any failure to comply with U.S. and foreign laws and regulations; restrictions on Merit’s liquidity or business operations resulting from its debt agreements; infringement of Merit’s technology or the assertion that Merit’s technology infringes the rights of other parties; product recalls and product liability claims; potential for significant adverse changes in governing regulations;, changes in tax laws and regulations in the United States or other jurisdictions or exposure to additional tax liabilities which may adversely affect Merit’s effective tax rate; termination of relationships with Merit’s suppliers, or failure of such suppliers to perform; development of new products and technology that could render Merit’s existing or future products obsolete; market acceptance of new products; failure to comply with applicable environmental laws; changes in key personnel; labor shortages and increases in labor costs; price and product competition; extreme weather events; and geopolitical events. For a further discussion of the risks and uncertainties and other factors that may affect Merit’s business, operations and financial condition, see Part I, Item 1A. “Risk Factors” in Merit’s Annual Report on Form 10-K for the year ended December 31, 2025 filed with the SEC, which Merit updated in Part II, Item 1A. “Risk Factors” in Merit’s Quarterly Reports on Form 10-Q for each of the quarters ended March 31, 2026, June 30, 2026 and September 30, 2026.

All subsequent forward-looking statements attributable to Merit or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Actual results will likely differ, and may differ materially, from anticipated results. Financial estimates are subject to change and are not intended to be relied upon as predictions of future operating results. Those estimates and all other forward-looking statements included in this release are made only as of the date of this release, and except as otherwise required by applicable law, Merit assumes no obligation to update or disclose revisions to estimates and all other forward-looking statements.

TRADEMARKS

Unless noted otherwise, trademarks and registered trademarks used in this release are the property of Merit Medical Systems, Inc., its subsidiaries, or its licensors.


Contacts:
PR/Media Inquiries: Sarah Comstock Merit Medical	Investor Inquiries: Mike Piccinino, CFA, IRC ICR Healthcare
+1-801-432-2864	+1-443-213-0509
sarah.comstock@merit.com	mike.piccinino@icrhealthcare.com

Posted in UncategorizedTagged GlobeNewswire

Financial Institutions, Inc. Reports Net Income Available to Common Shareholders of $19.6 million, or $0.99 per Diluted Share, for the Third Quarter of 2026

Posted on October 29, 2026 by Ravi Shankar

Quarterly results highlighted by loan growth of 2.2% and deposit growth of 3.3%

WARSAW, N.Y., Oct. 29, 2026 (GLOBE NEWSWIRE) — Financial Institutions, Inc. (NASDAQ: FISI) (the “Company,” “we” or “us”) today reported financial and operational results for the third quarter ended September 30, 2026, reflecting strong performance by subsidiaries Five Star Bank (the “Bank”) and Courier Capital, LLC (“Courier Capital”), including healthy loan and deposit growth and sustained profitability.

KEY FINANCIAL METRICS										Quarter-over-Quarter (“QoQ”)						Year-over-Year (“YoY”)
Dollars in thousands, except per share data Return metrics annualized	Q3 2026			Q2 2026			Q3 2025			Variance				%		Variance				%
Net income	$	19,990		$	21,184		$	20,477		$	(1,194	)		-5.6	%	$	(487	)		-2.4	%
Net income available to common shareholders		19,626			20,819			20,112			(1,193	)		-5.7	%		(486	)		-2.4	%
Diluted earnings per common share	$	0.99		$	1.04		$	0.99		$	(0.05	)		-4.8	%	$	–			0.0	%
Return on average assets		1.26	%		1.35	%		1.32	%		(9	)	bps				(6	)	bps
Return on average equity		12.32	%		13.31	%		13.31	%		(99	)	bps				(99	)	bps
Return on average tangible common equity ⁽¹⁾		13.75	%		14.88	%		14.98	%		(113	)	bps				(123	)	bps
Efficiency ratio		56.84	%		55.33	%		56.78	%		151		bps				6		bps
Total loans (end of period)	$	4,855,827		$	4,752,965		$	4,590,423		$	102,862			2.2	%	$	265,404			5.8	%
Total deposits (end of period)	$	5,474,936		$	5,299,465		$	5,357,809		$	175,471			3.3	%	$	117,127			2.2	%

Third Quarter 2026 Highlights and Key Developments

Total loans grew 2.2% from the end of the linked quarter and 5.8% from September 30, 2025, to reach $4.86 billion at September 30, 2026, driven by robust commercial lending.
Total deposits increased 3.3% quarter-over-quarter and 2.2% year-over-year to $5.47 billion at September 30, 2026. Growth was broad-based across all deposit categories, led by seasonal support in public deposits.
Net interest income reached a new quarterly high of $54.3 million and net interest margin of 3.70% was stable with the linked quarter and up 5 basis points from the year-ago quarter.
Investment advisory income, the Company’s leading contributor of noninterest income, increased 1.7% and 10.6% from the linked and year-ago quarters, respectively.
The efficiency ratio remained below 57% for the quarter, reflecting the Company’s focus on sustained profitability.
The Company’s strong capital position enabled the repurchase of 185,833 shares of common stock at an average price of $40.92 per share during the quarter.

“Our third quarter results underscore the strength of our relationship-driven business model and our unwavering commitment to disciplined execution,” said President and Chief Executive Officer Martin K. Birmingham. “Our commercial franchise continues to be the primary driver of loan growth and was supported by increases in consumer indirect and residential mortgage lending during the third quarter. While our quarterly net charge-off ratio was up from lower-than-typical levels in the linked and year-ago quarters, it remains within our full-year guidance. At the same time, the ratio of non-performing loans to total loans decreased by 3 basis points. Overall, we remain focused on credit-disciplined loan production in our core Upstate New York markets.”

Chief Financial Officer and Treasurer W. Jack Plants II added, “Third quarter performance benefited from continued growth in average earning assets and effective balance sheet management, supporting a 3.70% net interest margin and a nearly 5% increase in net interest income from the prior year period. Our balance sheet remains a source of strength, reflected in a tangible common equity ratio⁽¹⁾ of 8.40%, a common equity Tier 1 ratio of 11.36%, and a return on average tangible common equity⁽¹⁾ of 13.75%. These strong capital levels provide us flexibility to support loan growth and thoughtful investments in our business, while continuing to return capital to shareholders through share buybacks, as we did during the third quarter with the repurchase of 185,833 shares.”

Net Interest Income and Net Interest Margin

NET INTEREST INCOME										QoQ					YoY
Dollars in thousands	Q3 2026			Q2 2026			Q3 2025			Variance			%		Variance				%
Interest income	$	85,003		$	83,076		$	84,422		$	1,927		2.3	%	$	581			0.7	%
Interest expense		30,712			29,715			32,633			997		3.4	%		(1,921	)		-5.9	%
Net interest income		54,291			53,361			51,789			930		1.7	%		2,502			4.8	%
Net interest margin (tax-equivalent basis) ⁽²⁾		3.70	%		3.70	%		3.65	%		–	bps				5		bps
Average interest-earning assets	$	5,837,535		$	5,785,900		$	5,656,869		$	51,635		0.9	%	$	180,666			3.2	%
Average interest-bearing liabilities		4,573,266			4,559,420			4,437,752			13,846		0.3	%		135,514			3.1	%

Net interest income was $54.3 million, up $930 thousand from the linked quarter and up $2.5 million from the third quarter of 2025. Net interest margin of 3.70% was consistent with the linked quarter and up 5 basis points from the year-ago quarter, driven by lower interest-bearing liability costs.

Average interest-earning assets of $5.84 billion were up $51.6 million from the second quarter of 2026 and up $180.7 million from the third quarter of 2025. The linked quarter variance reflected a $114.5 million increase in average loans, partially offset by decreases in the average balances of investment securities of $61.6 million and Federal Reserve interest-earning cash of $1.2 million. The year-over-year variance reflected a $228.2 million increase in the average balance of loans, partially offset by a $43.2 million decrease in the average balance of investment securities and a $4.3 million decrease in the average balance of Federal Reserve interest-earning cash. The average yield on interest-earning assets was 5.79% in the third quarter of 2026, compared to 5.76% in the second quarter of 2026, and 5.93% in the third quarter of 2025.
Average interest-bearing liabilities of $4.57 billion were up $13.8 million from the second quarter of 2026 and up $135.5 million from the third quarter of 2025. The linked quarter variance was primarily due to increases in the average balances of time, savings and money market deposits, partially offset by decreases in average interest-bearing demand deposits and short-term borrowings, while average long-term borrowings were flat. The year-over-year variance reflected increases in the average balances of savings and money market deposits, time deposits, short-term borrowings and interest-bearing demand deposits, partially offset by a decrease in average long-term borrowings. The average cost of interest-bearing liabilities was 2.67%, reflecting an increase of 6 basis points from the linked quarter and a decrease of 25 basis points from the year-ago quarter.

Noninterest Income

SELECT NONINTEREST INCOME CATEGORIES									QoQ Change					YoY Change
Dollars in thousands	Q3 2026			Q2 2026			Q3 2025		$			%		$			%
Investment advisory	$	3,343		$	3,287		$	3,023	$	56		1.7	%	$	320		10.6	%
Investments in limited partnerships		(274	)		(140	)		223		(134	)	95.7	%		(497	)	-222.9	%
Income from derivative instruments, net		106			518			847		(412	)	-79.5	%		(741	)	-87.5	%
Net gain on investment securities		–			–			703		–		–			(703	)	-100.0	%
Other		1,239			1,200			1,596		39		3.3	%		(357	)	-22.4	%
Total noninterest income		10,457			10,954			12,056		(497	)	-4.5	%		(1,599	)	-13.3	%

Noninterest income was $10.5 million in the third quarter of 2026, versus $11.0 million in the second quarter of 2026 and $12.1 million in the third quarter of 2025. The linked quarter variance was primarily driven by decreased income from derivative instruments, net, or swap fees, along with greater losses on investments in limited partnerships. The aforementioned lower level of swap fees and loss on limited partnerships were also contributors to the year-over-year variance. Detail on other select categories with notable variances follows:

Investment advisory income of $3.3 million was up from both the linked and year-ago quarters, reflecting both new business and market performance.
A loss on investments in limited partnerships, which are primarily small business investment companies, of $274 thousand was recognized in the third quarter of 2026, compared to a loss of $140 thousand and a gain of $223 thousand in the linked and year-ago quarters, respectively. Income from these investments, which we account for under the equity method, fluctuates based on the maturity and performance of the underlying investments.
Income from derivative instruments, net, which is based on the number and value of interest rate swap transactions executed during the quarter, of $106 thousand was down from $518 thousand and $847 thousand in the linked and year-ago quarters, respectively.
A net gain on investment securities of $703 thousand was recorded in the third quarter of 2025. There was no gain or loss recorded in the second or third quarters of 2026.
Other noninterest income of $1.2 million was relatively flat with the linked quarter and down from the year-ago quarter, driven by a variety of factors.

Noninterest Expense and Income Taxes

SELECT NONINTEREST EXPENSE CATEGORIES							QoQ Change				YoY Change
Dollars in thousands	Q3 2026		Q2 2026		Q3 2025		$		%		$			%
Salaries and employee benefits	$	19,654	$	19,165	$	18,522	$	489	2.6	%	$	1,132		6.1	%
Professional services		1,475		1,263		1,688		212	16.8	%		(213	)	-12.6	%
Total noninterest expense		36,822		35,605		35,875		1,217	3.4	%		947		2.6	%

Noninterest expense was $36.8 million in the third quarter of 2026, compared to $35.6 million in the second quarter of 2026 and $35.9 million in the third quarter of 2025. Detail on select categories with notable variances follows:

Salaries and employee benefits expense was $489 thousand higher than the second quarter of 2026, primarily driven by an increase in health insurance benefit expense, and $1.1 million higher than the third quarter of 2025, reflecting a combination of factors, including annual merit increases, higher incentive compensation and investments in personnel.
Professional services expense was $212 thousand higher than the linked quarter, driven in part by the timing of typical external audit-related expenses. The $213 thousand decrease year-over-year was driven by lower other professional and consulting expenses.

INCOME TAXES										QoQ					YoY
Dollars in thousands	Q3 2026			Q2 2026			Q3 2025			Variance			%		Variance			%
Income tax expense	$	4,057		$	4,418		$	4,761		$	(361	)	-8.2	%	$	(704	)	-14.8	%
Tax credit on investments placed in service/amortized		1,045			1,045			1,103			–		0.0	%		(58	)	-5.3	%
Effective tax rate		16.9	%		17.3	%		18.9	%		-0.4	%				-2.0	%

Income tax expense was $4.1 million for the third quarter of 2026, compared to $4.4 million in the second quarter of 2026 and $4.8 million in the third quarter of 2025. Income tax expense reflects federal and state tax benefits that the Company recognized related to tax credit investments placed in service and/or amortized during each period, as outlined above.

The effective tax rate, which was 16.9% for the third quarter of 2026, fluctuates on a quarterly basis primarily due to the level of pre-tax earnings or loss and may differ from statutory rates due to interest income from tax-exempt securities, earnings on COLI, the tax impact of restricted stock award vesting, and the impact of tax credit investments.

Balance Sheet Composition and Liquidity

SELECT BALANCE SHEET DATA							QoQ Change					YoY Change
Dollars in thousands, end of period	Q3 2026		Q2 2026		Q3 2025		$			%		$			%
Total assets	$	6,506,919	$	6,334,952	$	6,288,052	$	171,967		2.7	%	$	218,867		3.5	%
Total investment securities		1,034,758		989,764		1,011,217		44,994		4.5	%		23,541		2.3	%
Commercial business and commercial mortgage		3,305,501		3,210,384		2,989,710		95,117		3.0	%		315,791		10.6	%
Residential real estate		740,524		738,681		724,506		1,843		0.2	%		16,018		2.2	%
Consumer indirect and other consumer		809,802		803,900		876,207		5,902		0.7	%		(66,405	)	-7.6	%
Total loans		4,855,827		4,752,965		4,590,423		102,862		2.2	%		265,404		5.8	%
Total deposits		5,474,936		5,299,465		5,357,809		175,471		3.3	%		117,127		2.2	%
Short-term borrowings		167,000		182,000		55,000		(15,000	)	-8.2	%		112,000		203.6	%
Long-term borrowings, net		78,768		78,694		115,000		74		0.1	%		(36,232	)	-31.5	%

Total loans of $4.86 billion at September 30, 2026 were up $102.9 million from the end of the linked quarter and up $265.4 million from September 30, 2025.

Strong commercial lending activity in the Bank’s Western and Central New York markets drove both the linked quarter and year-over-year growth.

Total deposits were $5.47 billion at September 30, 2026, up $175.5 million from June 30, 2026, and up $117.1 million from September 30, 2025.

The linked quarter variance was primarily due to seasonally higher public deposit balances, but reflected growth across all deposit types. The year-over-year increase reflected higher nonpublic, reciprocal and brokered deposits, partially offset by a modest decrease in public deposits. Public deposits represented 22% of total deposits at September 30, 2026, 22% at June 30, 2026, and 23% at September 30, 2025.

LIQUIDITY SOURCES							QoQ Change					YoY Change
Dollars in thousands, end of period	Q3 2026		Q2 2026		Q3 2025		$			%		$			%
Unencumbered securities	$	6,853	$	29,876	$	58,476	$	(23,023	)	-77.1	%	$	(51,623	)	-88.3	%
FHLBNY borrowing availability		204,714		182,426		288,811		22,288		12.2	%		(84,097	)	-29.1	%
FRB excess cash		37,629		39,564		96,968		(1,935	)	-4.9	%		(59,339	)	-61.2	%
FRB discount window		922,388		900,825		956,770		21,563		2.4	%		(34,382	)	-3.6	%
Total on-balance sheet liquidity		1,171,584		1,152,691		1,401,025		18,893		1.6	%		(229,441	)	-16.4	%

The Company maintains liquidity, both on and off-balance sheet, to meet customer demand. As outlined in the table above, at September 30, 2026, the Company had approximately $1.17 billion in available liquidity, excluding brokered deposit capacity, in addition to cash and cash equivalents of $102.9 million and available unsecured lines of credit totaling $155.0 million.

Capital Strength and Shareholder Returns

REGULATORY CAPITAL RATIOS	Q3 2026			Q2 2026			Q3 2025			QoQ Change				YoY Change
Leverage Ratio		10.09	%		10.06	%		9.77	%		3		bps		32	bps
Common Equity Tier 1 Ratio		11.36	%		11.44	%		11.15	%		(8	)	bps		21	bps
Tier 1 Capital Ratio		11.68	%		11.76	%		11.48	%		(8	)	bps		20	bps
Total Risk Based Capital Ratio		14.07	%		14.20	%		13.60	%		(13	)	bps		47	bps

The Company’s regulatory capital ratios at September 30, 2026 continued to exceed all regulatory capital requirements to be considered well capitalized.

SELECT SHAREHOLDERS’ EQUITY AND PER SHARE DATA										QoQ						YoY
Dollars in thousands, except per share data	Q3 2026			Q2 2026			Q3 2025			Variance				%		Variance				%
Shareholders’ equity	$	618,993		$	643,441		$	621,720		$	(24,448	)		-3.8	%	$	(2,727	)		-0.4	%
Common shareholders’ equity		601,710			626,156			604,435			(24,446	)		-3.9	%		(2,725	)		-0.5	%
Tangible common equity ⁽¹⁾		541,655			566,007			543,992			(24,352	)		-4.3	%		(2,337	)		-0.4	%
Common book value per share	$	30.82		$	31.77		$	30.03		$	(0.95	)		-3.0	%	$	0.79			2.6	%
Tangible common book value per share ⁽¹⁾	$	27.75		$	28.72		$	27.02		$	(0.97	)		-3.4	%	$	0.73			2.7	%
Common equity to assets ratio		9.25	%		9.88	%		9.61	%		(64	)	bps				(37	)	bps
Tangible common equity to tangible assets ratio ⁽¹⁾		8.40	%		9.02	%		8.74	%		(62	)	bps				(33	)	bps

Shareholders’ equity was $619.0 million at September 30, 2026, compared to $643.4 million at June 30, 2026, and $621.7 million at September 30, 2025. The decline was primarily the result of an increase in accumulated other comprehensive loss associated with unrealized losses in the available for sale securities portfolio, which was driven by the increase in interest rates, as well as stock repurchases during the third quarter of 2026, partially offset by net income, net of dividends, retained.

The Company declared a common stock dividend of $0.32 per common share in the third quarter of 2026, consistent with the linked quarter and reflecting an increase of $0.01, or 3.2%, over the year-ago quarter, returning 32% of third quarter net income to common shareholders.

During the third quarter of 2026, the Company repurchased 185,833 shares of common stock at an average price of $40.92 per share. As of September 30, 2026, 320,480 shares remained available under the repurchase program that was approved in September 2025 and which does not have an expiration date.

Credit Quality

SELECT CREDIT QUALITY METRICS										QoQ						YoY
Dollars in thousands	Q3 2026			Q2 2026			Q3 2025			Variance				%		Variance				%
Non-performing loans	$	38,542		$	39,007		$	33,951		$	(465	)		-1.2	%	$	4,591			13.5	%
Total non-performing loans to total loans		0.79	%		0.82	%		0.74	%		(3	)	bps				5		bps
Allowance for credit losses “ACL” – loans		48,014			47,497			47,292			517			1.1	%		722			1.5	%
ACL – loans to total loans ratio		0.99	%		1.00	%		1.03	%		(1	)	bps				(4	)	bps
Provision for credit losses – loans	$	4,542		$	4,133		$	2,062		$	409			9.9	%	$	2,480			120.3	%
Provision for credit losses		3,879			3,108			2,732			771			24.8	%	$	1,147			42.0	%
Net charge-offs/average loans (annualized)		0.33	%		0.11	%		0.18	%		22		bps				15		bps

The Company has remained strategically focused on the importance of credit discipline, allocating resources to credit and risk management functions as the loan portfolio has grown.

Non-performing loans were $38.5 million, or 0.79% of total loans, at September 30, 2026, a modest decrease from the linked quarter. The increase from one year prior primarily reflects one well-collateralized commercial business loan that moved to nonaccrual status in the first quarter of 2026, offset in part by the partial charge-off of a previously disclosed nonaccrual commercial business relationship for which a specific reserve was in place.
Provision for credit losses was $3.9 million in the third quarter of 2026 and was driven by a combination of factors, including loan growth and fluctuation in the balance of unfunded commitments. The provision for credit losses on unfunded commitments, which is included in the provision for credit losses as required by the current expected credit loss standard, totaled a credit of $663 thousand in the third quarter of 2026, compared to a credit of $1.0 million in the second quarter of 2026 and a provision of $671 thousand in the third quarter of 2025.

Subsequent Events

The Company is required, under U.S. generally accepted accounting principles (“GAAP”), to evaluate subsequent events through the filing of its consolidated financial statements for the quarter ended September 30, 2026 on Form 10-Q. As a result, the Company will continue to evaluate the impact of any subsequent events on critical accounting assumptions and estimates made as of September 30, 2026, and will adjust amounts preliminarily reported, if necessary, in its Form 10-Q as filed with the Securities and Exchange Commission (the “SEC”).

Conference Call

The Company will host an earnings conference call and audio webcast on October 30, 2026, at 8:30 a.m. Eastern Time. The call will be hosted by Martin K. Birmingham, President and Chief Executive Officer, and W. Jack Plants II, Chief Financial Officer and Treasurer. Within the United States, participants may access the call by dialing 1-877-425-9470 and requesting the “Financial Institutions, Inc. Third Quarter 2026 Earnings Conference Call.” A live webcast will also be available at https://viavid.webcasts.com/starthere.jsp?ei=1776786&tp_key=90ac35b0c7 in listen-only mode. A replay of the webcast will be available on the Company’s IR website, www.FISI-Investors.com, for at least 30 days.

About Financial Institutions, Inc.

Financial Institutions, Inc. (NASDAQ: FISI) is a financial holding company with approximately $6.5 billion in assets offering banking and wealth management products and services. Its Five Star Bank subsidiary provides consumer and commercial banking and lending services to individuals, municipalities and businesses through banking locations spanning Western and Central New York and a commercial loan production office serving the Mid-Atlantic region. Its Courier Capital, LLC subsidiary offers customized investment management, consulting and retirement plan services to individuals, businesses, institutions, foundations and retirement plans. Learn more at FISI-Investors.com.

Non-GAAP Financial Information

In addition to results presented in accordance with GAAP, this press release contains certain non-GAAP financial measures. A reconciliation of these non-GAAP measures to GAAP measures is included in Appendix A to this document.

The Company believes that providing certain non-GAAP financial measures provides investors with information useful in understanding our financial performance, performance trends and financial position. Our management uses these measures for internal planning and forecasting purposes and we believe that our presentation and discussion, together with the accompanying reconciliations, allows investors, security analysts and other interested parties to view our performance and the factors and trends affecting our business in a manner similar to management. These non-GAAP measures should not be considered a substitute for GAAP measures, and we strongly encourage investors to review our consolidated financial statements in their entirety and not to rely on any single financial measure to evaluate the Company. Non-GAAP financial measures have inherent limitations, are not uniformly applied and are not audited. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies’ non-GAAP financial measures having the same or similar names.

Safe Harbor Statement

This press release may contain forward-looking statements as defined by Section 21E of the Securities Exchange Act of 1934, as amended, that involve significant risks and uncertainties. In this context, forward-looking statements often address our expected future business and financial performance and financial condition, and often contain words such as “anticipate,” “believe,” “continue,” “estimate,” “expect,” “focus,” “forecast,” “intend,” “may,” “plan,” “preliminary,” “should,” “target” or “will.” Statements herein are based on certain assumptions and analyses by the Company and factors it believes are appropriate in the circumstances. Actual results could differ materially from those contained in or implied by such statements for a variety of reasons including, but not limited to: changes in interest rates; inflation; tariffs; changes in deposit flows and the cost and availability of funds; fraudulent deposit activity; the Company’s ability to implement its strategic plan, including by expanding its commercial lending footprint and integrating its acquisitions; whether the Company experiences greater credit losses than expected; whether the Company experiences breaches of its, or third party, information systems; the attitudes and preferences of the Company’s customers; legal and regulatory proceedings and related matters, including any action described in the Company’s reports filed with the SEC, could adversely affect it and the banking industry in general; the competitive environment; fluctuations in the fair value of securities in its investment portfolio; changes in the regulatory environment and the Company’s compliance with regulatory requirements; general economic and credit market conditions nationally and regionally; and macroeconomic volatility related to global political unrest. Consequently, all forward-looking statements made herein are qualified by these cautionary statements and the cautionary language and risk factors included in the Company’s Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q and other documents filed with the SEC. Except as required by law, the Company undertakes no obligation to revise these statements following the date of this press release.

_{⁽¹⁾ See Appendix A — Reconciliation to Non-GAAP Financial Measures for the computation of this non-GAAP financial measure.}
_{⁽²⁾ Calculated on a tax-equivalent basis assuming a Federal income tax rate of 21%.}

FINANCIAL INSTITUTIONS, INC. Selected Financial Information (Unaudited) (Amounts in thousands, except per share amounts)
	2026									2025
SELECT BALANCE SHEET DATA:	September 30,			June 30,			March 31,			December 31,			September 30,
Cash and cash equivalents	$	102,883		$	99,174		$	85,451		$	108,751		$	185,945
Investment securities:
Available for sale		958,239			910,466			1,003,697			922,472			923,592
Held-to-maturity, net		76,519			79,298			82,074			84,708			87,625
Total investment securities		1,034,758			989,764			1,085,771			1,007,180			1,011,217
Loans held for sale		1,913			2,502			1,034			3,365			2,252
Loans:
Commercial business		773,008			768,549			746,425			738,307			740,603
Commercial mortgage–construction		625,095			558,036			513,615			488,558			441,034
Commercial mortgage–multifamily		560,780			565,027			578,731			588,732			592,634
Commercial mortgage–non-owner occupied		1,001,518			970,966			922,628			942,219			893,884
Commercial mortgage–owner occupied		345,100			347,806			316,781			322,776			321,555
Residential real estate loans		663,160			662,582			652,861			657,001			648,397
Residential real estate lines		77,364			76,099			74,779			75,121			76,109
Consumer indirect		779,059			771,126			787,888			807,310			838,671
Other consumer		30,743			32,774			33,879			37,842			37,536
Total loans		4,855,827			4,752,965			4,627,587			4,657,866			4,590,423
Allowance for credit losses–loans		48,014			47,497			44,661			47,386			47,292
Total loans, net		4,807,813			4,705,468			4,582,926			4,610,480			4,543,131
Total interest-earning assets		6,020,962			5,834,020			5,787,556			5,755,696			5,739,699
Goodwill and other intangible assets, net		60,055			60,149			60,245			60,343			60,443
Total assets		6,506,919			6,334,952			6,294,783			6,274,140			6,288,052
Deposits:
Noninterest-bearing demand		974,634			950,510			953,397			962,724			959,404
Interest-bearing demand		769,479			712,124			744,690			672,323			776,445
Savings and money market		2,021,827			1,964,402			1,984,048			1,884,801			1,955,832
Time deposits		1,708,996			1,672,429			1,655,746			1,686,500			1,666,128
Total deposits		5,474,936			5,299,465			5,337,881			5,206,348			5,357,809
Short-term borrowings		167,000			182,000			114,000			109,000			55,000
Long-term borrowings, net		78,768			78,694			78,621			193,653			115,000
Total interest-bearing liabilities		4,746,070			4,609,649			4,577,105			4,546,277			4,568,405
Shareholders’ equity		618,993			643,441			631,670			628,854			621,720
Common shareholders’ equity		601,710			626,156			614,385			611,569			604,435
Tangible common equity ⁽¹⁾		541,655			566,007			554,140			551,226			543,992
Accumulated other comprehensive loss		(74,414	)		(43,349	)		(39,327	)	$	(33,030	)	$	(36,758	)

Common shares outstanding		19,521			19,706			19,686			19,797			20,130
Treasury shares		1,179			993			1,013			902			570
CAPITAL RATIOS AND PER SHARE DATA:
Leverage ratio		10.09	%		10.06	%		9.89	%		9.69	%		9.77	%
Common equity Tier 1 capital ratio		11.36	%		11.44	%		11.37	%		11.11	%		11.15	%
Tier 1 capital ratio		11.68	%		11.76	%		11.70	%		11.43	%		11.48	%
Total risk-based capital ratio		14.07	%		14.20	%		14.16	%		14.90	%		13.60	%
Common equity to assets		9.25	%		9.88	%		9.76	%		9.75	%		9.61	%
Tangible common equity to tangible assets ⁽¹⁾		8.40	%		9.02	%		8.89	%		8.87	%		8.74	%

Common book value per share	$	30.82		$	31.77		$	31.21		$	30.89		$	30.03
Tangible common book value per share ⁽¹⁾	$	27.75		$	28.72		$	28.15		$	27.84		$	27.02
_{⁽¹⁾ See Appendix A — Reconciliation to Non-GAAP Financial Measures for the computation of this non-GAAP financial measure.}

FINANCIAL INSTITUTIONS, INC. Selected Financial Information (Unaudited) (Amounts in thousands, except per share amounts)
	Nine Months Ended						2026									2025
SELECT STATEMENT OF OPERATIONS	September 30,						Third			Second			First			Fourth			Third
DATA:	2026			2025			Quarter			Quarter			Quarter			Quarter			Quarter
Interest income	$	249,642		$	248,340		$	85,003		$	83,076		$	81,563		$	84,649		$	84,422
Interest expense		89,997			100,565			30,712			29,715			29,570			32,438			32,633
Net interest income		159,645			147,775			54,291			53,361			51,993			52,211			51,789
Provision for credit losses		9,226			8,222			3,879			3,108			2,239			3,404			2,732
Net interest income after provision for credit losses		150,419			139,553			50,412			50,253			49,754			48,807			49,057
Noninterest income:
Service charges on deposits		3,244			3,278			1,117			1,083			1,044			1,082			1,137
Card interchange income		6,026			5,783			2,071			2,063			1,892			2,011			2,006
Investment advisory		9,691			8,645			3,343			3,287			3,061			3,074			3,023
Company owned life insurance		8,588			8,591			2,932			2,884			2,772			2,788			2,849
Investments in limited partnerships		(190	)		945			(274	)		(140	)		224			457			223
Loan servicing		541			484			189			201			151			208			181
Income from derivative instruments, net		863			1,436			106			518			239			1,110			847
Net gain on sale of loans held for sale		491			542			185			181			125			195			285
Net gain on investment securities		328			706			–			–			328			225			703
Net (loss) gain on other assets		(454	)		(281	)		–			27			(481	)		(225	)		(281	)
Net loss on tax credit investments		(1,253	)		(1,539	)		(451	)		(350	)		(452	)		(446	)		(513	)
Other		4,209			4,456			1,239			1,200			1,770			1,430			1,596
Total noninterest income		32,084			33,046			10,457			10,954			10,673			11,909			12,056
Noninterest expense:
Salaries and employee benefits		57,421			53,490			19,654			19,165			18,601			19,323			18,522
Occupancy and equipment		11,968			11,386			4,161			3,941			3,865			4,104			3,814
Professional services		4,088			4,830			1,475			1,263			1,350			1,686			1,688
Computer and data processing		17,349			17,155			5,627			5,512			6,211			5,934			5,789
FDIC assessments		3,041			4,086			1,068			987			986			984			1,227
Advertising and promotions		1,559			1,328			444			592			524			482			491
Amortization of intangibles		288			315			94			96			98			100			103
Deposit-related charged-off items expense		443			83			207			126			109			77			144
Other		11,865			12,569			4,092			3,923			3,851			4,029			4,097
Total noninterest expense		108,022			105,242			36,822			35,605			35,595			36,719			35,875
Income before income taxes		74,481			67,357			24,047			25,602			24,832			23,997			25,238
Income tax expense		12,321			12,470			4,057			4,418			3,847			4,017			4,761
Net income		62,160			54,887			19,990			21,184			20,985			19,980			20,477
Preferred stock dividends		1,094			1,094			364			365			364			364			365
Net income available to common shareholders	$	61,066		$	53,793		$	19,626		$	20,819		$	20,621		$	19,616		$	20,112
FINANCIAL RATIOS:
Earnings per share – basic	$	3.11		$	2.68		$	1.00		$	1.06		$	1.05		$	0.98		$	1.00
Earnings per share – diluted	$	3.07		$	2.65		$	0.99		$	1.04		$	1.04		$	0.96		$	0.99
Cash dividends declared on common stock	$	0.96		$	0.93		$	0.32		$	0.32		$	0.32		$	0.31		$	0.31
Common dividend payout ratio		30.87	%		34.70	%		32.00	%		30.19	%		30.48	%		31.63	%		31.00	%
Dividend yield (annualized)		3.29	%		4.57	%		3.26	%		3.29	%		4.09	%		3.95	%		4.52	%
Return on average assets (annualized)		1.33	%		1.18	%		1.26	%		1.35	%		1.37	%		1.27	%		1.32	%
Return on average equity (annualized)		13.01	%		12.32	%		12.32	%		13.31	%		13.43	%		12.53	%		13.31	%
Return on average common equity (annualized)		13.14	%		12.44	%		12.43	%		13.44	%		13.57	%		12.64	%		13.45	%
Return on average tangible common equity (annualized) ⁽¹⁾		14.55	%		13.89	%		13.75	%		14.88	%		15.04	%		14.02	%		14.98	%
Efficiency ratio ⁽²⁾		56.40	%		58.38	%		56.84	%		55.33	%		57.06	%		57.43	%		56.78	%
Effective tax rate		16.5	%		18.5	%		16.9	%		17.3	%		15.5	%		16.7	%		18.9	%
_{⁽¹⁾ See Appendix A – Reconciliation to Non-GAAP Financial Measures for the computation of this non-GAAP financial measure.} _{⁽²⁾ The efficiency ratio is calculated by dividing noninterest expense by net revenue, i.e., the sum of net interest income (tax-equivalent basis assuming a Federal income tax rate of 21%) and noninterest income before net gains on investment securities. This is a banking industry measure not required by GAAP.}

FINANCIAL INSTITUTIONS, INC. Selected Financial Information (Unaudited) (Amounts in thousands)
	Nine Months Ended						2026									2025
	September 30,						Third			Second			First			Fourth			Third
SELECT AVERAGE BALANCES:	2026			2025			Quarter			Quarter			Quarter			Quarter			Quarter
Federal funds sold and interest-earning deposits	$	28,566		$	47,271		$	27,120		$	28,347		$	30,266		$	48,418		$	31,461
Investment securities ⁽¹⁾		1,049,543			1,072,077			1,016,043			1,077,633			1,055,385			1,066,829			1,059,244
Loans:
Commercial business		748,647			708,298			762,740			745,977			736,942			731,314			726,315
Commercial mortgage		2,407,298			2,221,845			2,485,369			2,392,003			2,342,957			2,313,465			2,239,666
Residential real estate loans		657,336			646,891			662,283			655,028			654,614			650,190			648,642
Residential real estate lines		75,222			75,168			76,598			74,853			74,189			75,288			75,774
Consumer indirect		783,321			841,830			775,732			779,336			795,107			823,521			838,026
Other consumer		33,137			39,802			31,650			32,723			35,074			36,917			37,741
Total loans		4,704,961			4,533,834			4,794,372			4,679,920			4,638,883			4,630,695			4,566,164
Total interest-earning assets		5,783,070			5,653,182			5,837,535			5,785,900			5,724,534			5,745,942			5,656,869
Goodwill and other intangible assets, net		60,207			60,610			60,112			60,207			60,305			60,404			60,505
Total assets		6,270,963			6,198,689			6,312,602			6,271,961			6,227,388			6,261,856			6,159,886
Interest-bearing liabilities:
Interest-bearing demand		703,121			721,179			691,497			701,768			716,370			713,033			687,978
Savings and money market		1,954,029			1,936,765			1,977,954			1,976,903			1,906,445			1,924,952			1,881,445
Time deposits		1,687,635			1,613,532			1,702,746			1,676,759			1,683,185			1,692,138			1,643,342
Short-term borrowings		118,654			97,165			122,337			125,331			108,138			79,913			110,011
Long-term borrowings, net		85,489			118,737			78,732			78,659			99,302			133,242			114,976
Total interest-bearing liabilities		4,548,928			4,487,378			4,573,266			4,559,420			4,513,440			4,543,278			4,437,752
Noninterest-bearing demand deposits		951,090			936,854			958,502			944,037			950,644			955,880			960,089
Total deposits		5,295,875			5,208,330			5,330,699			5,299,467			5,256,644			5,286,003			5,172,854
Total liabilities		5,632,286			5,603,129			5,668,894			5,633,343			5,593,794			5,629,101			5,549,575
Shareholders’ equity		638,677			595,560			643,708			638,618			633,594			632,755			610,311
Common equity		621,392			578,275			626,423			621,333			616,309			615,470			593,026
Tangible common equity ⁽²⁾		561,185			517,665			566,311			561,126			556,004			555,066			532,521
Common shares outstanding:
Basic		19,650			20,101			19,620			19,687			19,642			20,093			20,122
Diluted		19,922			20,306			19,902			19,941			19,922			20,347			20,336
SELECTED AVERAGE YIELDS: *(Tax equivalent basis)*
Investment securities ⁽³⁾		4.47	%		4.35	%		4.46	%		4.46	%		4.48	%		4.48	%		4.45	%
Loans		6.07	%		6.25	%		6.08	%		6.07	%		6.07	%		6.20	%		6.29	%
Total interest-earning assets		5.77	%		5.87	%		5.79	%		5.76	%		5.76	%		5.86	%		5.93	%
Interest-bearing demand		1.06	%		1.15	%		1.07	%		1.08	%		1.04	%		1.20	%		1.09	%
Savings and money market		2.34	%		2.68	%		2.39	%		2.33	%		2.29	%		2.46	%		2.62	%
Time deposits		3.45	%		4.09	%		3.43	%		3.38	%		3.53	%		3.73	%		3.88	%
Short-term borrowings		2.57	%		2.13	%		2.66	%		2.62	%		2.40	%		1.77	%		2.41	%
Long-term borrowings, net		6.93	%		5.28	%		6.98	%		6.99	%		6.84	%		6.31	%		5.53	%
Total interest-bearing liabilities		2.64	%		3.00	%		2.67	%		2.61	%		2.65	%		2.83	%		2.92	%
Net interest rate spread		3.13	%		2.87	%		3.12	%		3.15	%		3.11	%		3.03	%		3.01	%
Net interest margin		3.69	%		3.50	%		3.70	%		3.70	%		3.67	%		3.62	%		3.65	%
_{⁽¹⁾ Includes investment securities at adjusted amortized cost.} _{⁽²⁾ See Appendix A – Reconciliation to Non-GAAP Financial Measures for the computation of this non-GAAP financial measure.} _{⁽³⁾ The interest on tax-exempt securities is calculated on a tax-equivalent basis assuming a Federal income tax rate of 21%.}

FINANCIAL INSTITUTIONS, INC. Selected Financial Information (Unaudited) (Amounts in thousands)
	Nine Months Ended						2026									2025
	September 30,						Third			Second			First			Fourth			Third
ASSET QUALITY DATA:	2026			2025			Quarter			Quarter			Quarter			Quarter			Quarter
Allowance for Credit Losses – Loans
Beginning balance	$	47,386		$	48,041		$	47,497		$	44,661		$	47,386		$	47,292		$	47,291
Net loan charge-offs (recoveries):
Commercial business		3,311			2,083			344			(23	)		2,990			46			123
Commercial mortgage–construction		963			(357	)		963			–			–			(10	)		(357	)
Commercial mortgage–multifamily		–			–			–			–			–			–			–
Commercial mortgage–non-owner occupied		(3	)		594			(1	)		(1	)		(1	)		–			(1	)
Commercial mortgage–owner occupied		(2	)		(3	)		(1	)		–			(1	)		–			(1	)
Residential real estate loans		8			108			(11	)		–			19			(4	)		(25	)
Residential real estate lines		27			27			–			30			(3	)		–			–
Consumer indirect		5,000			5,017			2,010			1,140			1,850			2,239			1,926
Other consumer		1,098			1,011			721			151			226			140			396
Total net charge-offs (recoveries)		10,402			8,480			4,025			1,297			5,080			2,411			2,061
Provision for credit losses–loans		11,030			7,731			4,542			4,133			2,355			2,505			2,062
Ending balance	$	48,014		$	47,292		$	48,014		$	47,497		$	44,661		$	47,386		$	47,292

Net charge-offs (recoveries) to average loans (annualized):
Commercial business		0.59	%		0.39	%		0.18	%		-0.01	%		1.65	%		0.02	%		0.07	%
Commercial mortgage–construction		0.24	%		-0.90	%		0.64	%		0.00	%		0.00	%		-0.01	%		-0.31	%
Commercial mortgage–multifamily		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%
Commercial mortgage–non-owner occupied		0.00	%		0.90	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%
Commercial mortgage–owner occupied		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%
Residential real estate loans		0.00	%		0.02	%		-0.01	%		0.00	%		0.01	%		0.00	%		-0.02	%
Residential real estate lines		0.05	%		0.05	%		0.16	%		0.16	%		-0.03	%		0.00	%		0.00	%
Consumer indirect		0.85	%		0.80	%		1.03	%		0.59	%		0.94	%		1.08	%		0.91	%
Other consumer		4.43	%		3.40	%		9.04	%		1.85	%		2.61	%		1.50	%		4.16	%
Total loans		0.30	%		0.25	%		0.33	%		0.11	%		0.44	%		0.21	%		0.18	%

Supplemental information ⁽¹⁾
Non-performing loans:
Commercial business	$	6,613		$	3,799		$	6,613		$	7,677		$	6,698		$	4,709		$	3,799
Commercial mortgage–construction		19,069			19,794			19,069			20,520			20,520			20,321			19,794
Commercial mortgage–multifamily		1,019			540			1,019			540			540			540			540
Commercial mortgage–non-owner occupied		–			–			–			–			–			–			–
Commercial mortgage–owner occupied		973			1,102			973			981			983			1,095			1,102
Residential real estate loans		8,141			5,877			8,141			6,974			7,434			6,443			5,877
Residential real estate lines		266			212			266			412			431			374			212
Consumer indirect		2,331			2,482			2,331			1,772			1,767			2,155			2,482
Other consumer		130			145			130			131			102			118			145
Total non-performing loans		38,542			33,951			38,542			39,007			38,475			35,755			33,951
Foreclosed assets		3,544			142			3,544			552			552			94			142
Total non-performing assets	$	42,086		$	34,093		$	42,086		$	39,559		$	39,027		$	35,849		$	34,093

Total non-performing loans to total loans		0.79	%		0.74	%		0.79	%		0.82	%		0.83	%		0.77	%		0.74	%
Total non-performing assets to total assets		0.65	%		0.54	%		0.65	%		0.62	%		0.62	%		0.57	%		0.54	%
Allowance for credit losses–loans to total loans		0.99	%		1.03	%		0.99	%		1.00	%		0.97	%		1.02	%		1.03	%
Allowance for credit losses–loans to non-performing loans		125	%		139	%		125	%		122	%		116	%		133	%		139	%
_{⁽¹⁾ At period end.}

FINANCIAL INSTITUTIONS, INC. Appendix A — Reconciliation to Non-GAAP Financial Measures (Unaudited) (In thousands, except per share amounts)
	Nine Months Ended						2026									2025
	September 30,						Third			Second			First			Fourth			Third
	2026			2025			Quarter			Quarter			Quarter			Quarter			Quarter
Ending tangible assets:
Total assets							$	6,506,919		$	6,334,952		$	6,294,783		$	6,274,140		$	6,288,052
Less: Goodwill and other intangible assets, net								60,055			60,149			60,245			60,343			60,443
Tangible assets							$	6,446,864		$	6,274,803		$	6,234,538		$	6,213,797		$	6,227,609

Ending tangible common equity:
Common shareholders’ equity							$	601,710		$	626,156		$	614,385		$	611,569		$	604,435
Less: Goodwill and other intangible assets, net								60,055			60,149			60,245			60,343			60,443
Tangible common equity							$	541,655		$	566,007		$	554,140		$	551,226		$	543,992

Tangible common equity to tangible assets ⁽¹⁾								8.40	%		9.02	%		8.89	%		8.87	%		8.74	%

Common shares outstanding								19,521			19,706			19,686			19,797			20,130
Tangible common book value per share ⁽²⁾							$	27.75		$	28.72		$	28.15		$	27.84		$	27.02

Average tangible assets:
Average assets	$	6,270,963		$	6,198,689		$	6,312,602		$	6,271,961		$	6,227,388		$	6,261,856		$	6,159,886
Less: Average goodwill and other intangible assets, net		60,207			60,610			60,112			60,207			60,305			60,404			60,505
Average tangible assets	$	6,210,756		$	6,138,079		$	6,252,490		$	6,211,754		$	6,167,083		$	6,201,452		$	6,099,381

Average tangible common equity:
Average common equity	$	621,392		$	578,275		$	626,423		$	621,333		$	616,309		$	615,470		$	593,026
Less: Average goodwill and other intangible assets, net		60,207			60,610			60,112			60,207			60,305			60,404			60,505
Average tangible common equity	$	561,185		$	517,665		$	566,311		$	561,126		$	556,004		$	555,066		$	532,521

Net income available to common shareholders	$	61,066		$	53,793		$	19,626		$	20,819		$	20,621		$	19,616		$	20,112
Return on average tangible common equity ⁽³⁾		14.55	%		13.89	%		13.75	%		14.88	%		15.04	%		14.02	%		14.98	%
_{⁽¹⁾ Tangible common equity divided by tangible assets.} _{⁽²⁾ Tangible common equity divided by common shares outstanding.} _{⁽³⁾ Net income available to common shareholders (annualized) divided by average tangible common equity.}

CONTACT: For additional information contact:
Kate Croft
Director of Investor Relations and Corporate Communications
(716) 817-5159
klcroft@five-starbank.com

Posted in UncategorizedTagged GlobeNewswire

Fidus Investment Corporation Schedules Third Quarter 2026 Earnings Release and Conference Call

Posted on October 29, 2026 by Ravi Shankar

EVANSTON, Ill., Oct. 29, 2026 (GLOBE NEWSWIRE) — Fidus Investment Corporation (NASDAQ: FDUS) (“Fidus” or the “Company”) today announced that it will report its third quarter 2026 financial results on Thursday, November 5, 2026 after the close of the financial markets.

Management will host a conference call to discuss the operating and financial results at 9:00am ET on Friday, November 6, 2026. To participate in the conference call, please dial (844) 808-7136 approximately 10 minutes prior to the call. International callers should dial (412) 317-0534. Please ask to be joined into the Fidus Investment Corporation call.

A live webcast of the conference call will be available at https://investor.fdus.com/news-events/events-presentations. Please access the website 15 minutes prior to the start of the call to download and install any necessary audio software.

A webcast replay of the conference call will be available two hours after the call on the investor relations section of the Company’s website.

ABOUT FIDUS INVESTMENT CORPORATION

Fidus Investment Corporation provides customized debt and equity financing solutions to lower middle-market companies, which management generally defines as U.S. based companies with revenues between $10 million and $150 million. The Company’s investment objective is to provide attractive risk-adjusted returns by generating both current income from debt investments and capital appreciation from equity related investments. Fidus seeks to partner with business owners, management teams and financial sponsors by providing customized financing for change of ownership transactions, recapitalizations, strategic acquisitions, business expansion and other growth initiatives.

Fidus is an externally managed, closed-end, non-diversified management investment company that has elected to be treated as a business development company under the Investment Company Act of 1940, as amended. In addition, for tax purposes, Fidus has elected to be treated as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended. Fidus was formed in February 2011 to continue and expand the business of Fidus Mezzanine Capital, L.P., which commenced operations in May 2007 and is licensed by the U.S. Small Business Administration as a Small Business Investment Company (SBIC).

FORWARD-LOOKING STATEMENTS

This press release may contain certain forward-looking statements which are based upon current expectations and are inherently uncertain, including, but not limited to, statements about the future performance and financial condition of the Company, the prospects of our existing and prospective portfolio companies, the financial condition and ability of our existing and prospective portfolio companies to achieve their objectives, and the timing, form and amount of any distributions or supplemental dividends in the future. Any such statements, other than statements of historical fact, are likely to be affected by other unknowable future events and conditions, including elements of the future that are or are not under the Company’s control, and that the Company may or may not have considered, such as changes in the financial and lending markets and the impact of interest rate volatility, including the decommissioning of LIBOR and rising interest rates; accordingly, such statements cannot be guarantees or assurances of any aspect of future performance. Actual developments and results are highly likely to vary materially from these estimates and projections of the future as a result of a number of factors related to changes in the markets in which the Company invests, changes in the financial, capital, and lending markets, and other factors described from time to time in the Company’s filings with the Securities and Exchange Commission. Such statements speak only as of the time when made, and are based on information available to the Company as of the date hereof and are qualified in their entirety by this cautionary statement. The Company undertakes no obligation to update any such statement now or in the future, except as required by applicable law.

Company Contact:	Investor Relations Contact:
Shelby E. Sherard	Alliance Advisors
Chief Financial Officer	Jody Burfening
Fidus Investment Corporation	(212) 838-3777
(847) 859-3938	Jburfening@allianceadvisors.com
SSherard@fidusinv.com

Posted in UncategorizedTagged GlobeNewswire

Bridger Aerospace Announces Schedule for its Third Quarter 2026 Earnings Release and Conference Call

Posted on October 29, 2026 by Ravi Shankar

BELGRADE, Mont., Oct. 29, 2026 (GLOBE NEWSWIRE) — Bridger Aerospace Group Holdings, Inc. (“Bridger” or the “Company”) (NASDAQ: BAER, BAERW), one of the nation’s leading aerial firefighting companies, today announced that it will release financial results for the third quarter ended September 30, 2026 on Monday, November 16, 2026, after the market close.

Management will conduct an investor conference call on Monday, November 16, 2026, at 5:00 p.m. Eastern Time (3:00 p.m. Mountain Time) to discuss these results and business outlook. Interested parties can access the conference call by dialing 1-800-343-4849 or 1-203-518-9848. When prompted, please provide the Conference ID: BRIDGER. The conference call will also be broadcast live on the Investor Relations section of our website at https://ir.bridgeraerospace.com.

An audio replay of the conference call will be available through November 22, 2026, by calling 844-512-2921 or 412-317-6671 and using the passcode 11162599. The replay will also be accessible at https://ir.bridgeraerospace.com.

About Bridger Aerospace
Based in Belgrade, Montana, Bridger Aerospace Group Holdings, Inc. is one of the nation’s largest aerial firefighting companies. Bridger provides aerial firefighting and wildfire management services to federal and state government agencies, including the United States Forest Service, across the nation, as well as internationally. More information about Bridger Aerospace is available at https://www.bridgeraerospace.com.

Investor Contact
Tom Cook
BridgerAerospaceIR@icrinc.com

Media Contact
Devin Johnson
Bridger Aerospace
406-919-5980
d.johnson@bridgeraerospace.com

Source: Bridger Aerospace Group Holdings, Inc.

Posted in UncategorizedTagged GlobeNewswire

Glacier Bancorp Announces Approval of Share Repurchase Program

Posted on October 29, 2026 by Ravi Shankar

KALISPELL, Mont., Oct. 29, 2026 (GLOBE NEWSWIRE) — Glacier Bancorp, Inc. (the “Company”) (NYSE: GBCI) announced today that its Board of Directors approved a new stock repurchase program authorizing the Company to repurchase up to $200 million of its outstanding common stock through December 31, 2027.

Repurchases of shares under the program may be made in the open market, in block trades, or in privately negotiated transactions, subject to requirements of applicable federal securities laws. The timing, frequency, and quantity of share repurchases will be at the discretion of the Company’s senior management. The approved repurchase program does not require that any minimum number of shares be repurchased.

About Glacier Bancorp, Inc.

Glacier Bancorp, Inc. is the parent company for Glacier Bank and its bank divisions: Altabank (American Fork, UT), Bank of the San Juans (Durango, CO), Citizens Community Bank (Pocatello, ID), Collegiate Peaks Bank (Buena Vista, CO), First Bank of Montana (Lewistown, MT), First Bank of Wyoming (Powell, WY), First Community Bank Utah (Layton, UT), First Security Bank (Bozeman, MT), First Security Bank of Missoula (Missoula, MT), First State Bank (Wheatland, WY), Glacier Bank (Kalispell, MT), Guaranty Bank & Trust (Mount Pleasant, TX), Heritage Bank of Nevada (Reno, NV), Mountain West Bank (Coeur d’Alene, ID), The Foothills Bank (Yuma, AZ), Valley Bank (Helena, MT), Western Security Bank (Billings, MT), and Wheatland Bank (Spokane, WA).

Forward-Looking Statements

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as “estimate,” “anticipate,” “expect,” “will,” and similar references to future periods. All statements other than statements of historical fact are forward-looking statements for purposes of this release. Such statements are based on management’s current expectations, estimates and projections about the Company’s business. These statements are not guarantees of future performance and involve numerous risks, uncertainties and assumptions that are difficult to predict. Actual results could vary materially from those contained in forward-looking statements due to many factors, including, without limitation, market and other conditions and other factors described in our other filings with the Securities and Exchange Commission (the “SEC”) from time to time. Readers are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date on which they are made and reflect management’s current estimates, projections, expectations and beliefs. The Company undertakes no obligation to publicly revise or update the forward-looking statements to reflect events or circumstances that arise after the date of this release. For more information, see the risk factors described in the Company’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other filings with the SEC.

Visit the Company’s website at http://www.glacierbancorp.com

Contact:
Randall M. Chesler, CEO
(406) 751-4722

Ron J. Copher, CFO
(406) 751-7706

Posted in UncategorizedTagged GlobeNewswire

Medallion Bank Reports 2026 Third Quarter Results and Declares Series G Preferred Stock Dividend

Posted on October 29, 2026 by Ravi Shankar

SALT LAKE CITY, Oct. 29, 2026 (GLOBE NEWSWIRE) — Medallion Bank (Nasdaq: MBNKO, the “Bank”), an FDIC-insured bank providing consumer loans for the purchase of recreational vehicles, boats, and home improvements, along with loan origination services to fintech strategic partners, announced today its results for the quarter ended September 30, 2026. The Bank is a wholly owned subsidiary of Medallion Financial Corp. (Nasdaq: MFIN).

2026 Third Quarter Highlights

Net income of $11.8 million, compared to $19.8 million in the prior year quarter.
Net income attributable to common shareholder of $9.5 million, compared to $14.0 million in the prior year quarter.
Net interest income of $60.0 million, compared to $55.7 million in the prior year quarter. Total non-interest income of $2.6 million, compared to $2.5 million in the prior year quarter.
Net interest margin of 8.03%, compared to 8.61% in the prior year quarter.
Recreation loan originations grew 40% from the prior year quarter to $198.2 million, and the loan portfolio grew 20% to $1.9 billion, exclusive of loans held for sale.
Home Improvement loan originations grew 145% from the prior year quarter to $146.3 million, and the loan portfolio grew 18% to $947.5 million.
Strategic partnership loan originations grew 25% from the prior year quarter to $259.4 million. During the quarter, the Bank added rFinance to its growing strategic partnership program, with originations beginning in the fourth quarter.
Total provision for credit losses was $29.8 million, compared to $17.2 million in the prior year quarter. The current quarter provision for credit losses included $5.7 million related to increased allowance for credit losses tied to consumer loan growth, compared to $1.9 million in the prior year quarter.
Annualized net charge-offs in the quarter were 2.83% of average loans outstanding, compared to 2.28% in the prior year quarter.
Annualized return on average assets and return on average equity were 1.61% and 10.18%, respectively, compared to 3.08% and 17.77%, respectively, for the prior year quarter, reflecting significant loan growth.
Total assets were $3.0 billion and the Tier 1 leverage ratio was 17.4% at September 30, 2026.
Closed a public offering of 2,200,000 shares of Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series G, par value $1.00 per share, with a liquidation amount of $25 per share and an aggregate liquidation amount of $55.0 million.

Series G Preferred Stock Dividend

On October 29, 2026, the Bank’s Board of Directors declared a quarterly cash dividend of $0.5625 per share on the Bank’s Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series G, which trades on the Nasdaq Capital Market under the ticker symbol “MBNKO.” The dividend is payable on January 4, 2027, to holders of record at the close of business on December 15, 2026.

About Medallion Bank

Medallion Bank specializes in providing consumer loans for the purchase of recreational vehicles, boats, and home improvements, along with loan origination services to fintech strategic partners. The Bank works directly with thousands of dealers, contractors and financial service providers serving their customers throughout the United States. Medallion Bank is a Utah-chartered, FDIC-insured industrial bank headquartered in Salt Lake City and is a wholly owned subsidiary of Medallion Financial Corp. (Nasdaq: MFIN).

For more information, visit www.medallionbank.com

For a description of certain risks to which Medallion Bank is or may be subject, please refer to the factors discussed under the captions “Cautionary Note Regarding Forward-Looking Statements” and “Risk Factors” included in Medallion Bank’s Form 10-K for the year ended December 31, 2025, and in its Quarterly Reports on Form 10-Q, filed with the FDIC. Medallion Bank’s Form 10-K, Form 10-Qs and other FDIC filings are available in the Investor Relations section of Medallion Bank’s website. Medallion Bank’s financial results for any period are not necessarily indicative of Medallion Financial Corp.’s results for the same period.

Company Contact:
Investor Relations
212-328-2176
InvestorRelations@medallion.com

MEDALLION BANK STATEMENTS OF OPERATIONS (UNAUDITED)

	Three Months Ended September 30,				Nine Months Ended September 30,
(In thousands)	2026		2025		2026		2025
Interest income
Loan interest including fees	$	83,006	$	74,549	$	235,447	$	216,854
Investments		1,992		1,660		5,027		4,543
Total interest income		84,998		76,209		240,474		221,397
Interest expense		24,998		20,503		67,858		59,728
Net interest income		60,000		55,706		172,616		161,669
Provision for credit losses		29,835		17,202		73,465		54,937
Net interest income after provision for credit losses		30,165		38,504		99,151		106,732
Strategic partnership fees		762		990		2,722		2,461
Gain on sale of loans		1,682		—		2,963		1,304
Other non-interest income		114		1,476		967		3,234
Total non-interest income		2,558		2,466		6,652		6,999
Non-interest expense
Salaries and benefits		6,248		5,466		18,888		16,111
Loan servicing		3,931		3,249		11,803		9,696
Collection costs		1,759		1,947		5,569		5,622
Insurance including FDIC assessment		1,258		790		3,470		2,940
Professional fees		779		492		2,659		1,694
Information technology		483		507		1,376		1,153
Depreciation and amortization		609		585		1,813		1,750
Occupancy and equipment		138		137		465		423
Advertising		322		73		515		197
Other		877		493		2,170		1,666
Total non-interest expense		16,404		13,739		48,728		41,252
Income before income taxes		16,319		27,231		57,075		72,479
Provision for income taxes		4,474		7,390		16,239		19,695
Net income	$	11,845	$	19,841	$	40,836	$	52,784
Less: Preferred stock dividends		2,336		2,336		7,007		6,446
Less: Redemption of Series F preferred stock – funds paid in excess of carrying value		—		3,515		—		3,515
Net income attributable to common shareholder	$	9,509	$	13,990	$	33,829	$	42,823

MEDALLION BANK BALANCE SHEETS

	(UNAUDITED)						(UNAUDITED)
(In thousands)	September 30, 2026			December 31, 2025			September 30, 2025
Assets
Cash and federal funds sold	$	170,148		$	147,449		$	112,102
Investment securities, available-for-sale		63,853			60,183			61,081
Loans held for sale, at the lower of amortized cost or fair value		15,233			15,144			72,918
Loan receivables, inclusive of net deferred loan acquisition cost and fees		2,800,461			2,427,458			2,349,531
Allowance for credit losses		(122,635	)		(105,519	)		(99,334	)
Loans, net		2,677,826			2,321,939			2,250,197
Repossessed assets⁽¹⁾		3,422			2,589			3,353
Fixed assets and right-of-use lease assets, net		7,204			8,564			7,330
Deferred tax assets		16,036			14,353			14,368
Accrued interest receivable		21,738			19,265			16,835
Other assets		28,390			25,953			36,338
Total assets	$	3,003,850		$	2,615,439		$	2,574,522
Liabilities and Shareholders’ Equity
Liabilities
Deposits	$	2,386,276		$	2,084,265		$	2,055,802
Short-term borrowings		75,000			50,000			35,000
Accrued interest payable		2,459			3,488			3,273
Income tax payable⁽²⁾		17,919			15,229			21,734
Other liabilities		18,541			11,373			18,720
Due to affiliates		766			911			921
Total liabilities		2,500,961			2,165,266			2,135,450
Shareholders’ Equity
Series E preferred stock		26,303			26,303			26,303
Series G preferred stock		125,039			73,126			73,126
Common stock		1,000			1,000			1,000
Additional paid in capital		77,500			77,500			77,500
Accumulated other comprehensive loss, net of tax		(5,240	)		(3,214	)		(3,249	)
Retained earnings		278,287			275,458			264,392
Total shareholders’ equity		502,889			450,173			439,072
Total liabilities and shareholders’ equity	$	3,003,850		$	2,615,439		$	2,574,522

(1) Formerly described as loan collateral in process of foreclosure.
(2) The majority of income tax payable is payable to Medallion Financial Corp., pursuant to a tax sharing agreement.

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