• Revenue of $189 million, year-over-year increase of 22% as reported and 18% organic with double-digit reported growth across all franchises
  • Orders increased sequentially and greater than 20% year-over-year
  • Increasing revenue guidance to a range of $729 to $737 million, which represents 14% -15.5% year-over-year non-COVID organic growth

WALTHAM, Mass., Oct. 28, 2025 (GLOBE NEWSWIRE) -- Repligen Corporation (NASDAQ:RGEN), a life sciences company focused on bioprocessing technology leadership, today reported financial results for its third quarter of 2025, covering the three- and nine- month periods ended September 30, 2025. Provided in this press release are financial performance highlights, updates to our guidance for the full year 2025 and access information for today’s webcast and conference call.

Olivier Loeillot, President and Chief Executive Officer of Repligen said, “We had another outstanding quarter in Q3 with 18% organic growth. We are thrilled with the momentum we are seeing across our broad, differentiated portfolio and the continued execution by our team. This resulted in double-digit revenue growth across all franchises and geographies. Consumables and capital equipment revenues were strong again, with continued performance from biopharma and CDMOs.

“Given our year-to-date performance of 16% organic non-COVID revenue growth and our very strong Q3 orders, we are raising our full-year revenue guidance again.”

Q3 2025 BUSINESS HIGHLIGHTS

  • Broad-based Growth . All franchises posted double-digit year-over-year revenue and order growth. Consumables and capital equipment revenues grew greater than 20%. Both CDMO and biopharma revenues increased over 20%. In addition, all geographies grew double-digits, led by Asia Pacific.
  • SoloVPE® PLUS. As an example of our innovation engine, we launched SoloVPE PLUS earlier this year, providing customers with increased data collection speed and enhanced sensitivity. Given these advantages, we had a record quarter for Process Analytics equipment placements this quarter.
  • Novasign Partnership. We announced a strategic partnership with Novasign to develop and integrate Novasign’s digital twin capabilities into Repligen filtration systems.

FINANCIAL PERFORMANCE

Q3 2025 Financial Performance (compared to prior year periods except as noted)

All adjusted figures are non-GAAP and, except for earnings per share, are rounded to the nearest million, and are reconciled in the tables included later in this press release.

  • Reported revenue was $189 million compared to $155 million, an increase of 22% as reported, 18% organic. There was no COVID-related revenue in either reporting period. Year-to-date 2025 revenue was $540 million compared to $467 million for the same period in 2024.
  • GAAP gross profit was $101 million compared to $77 million. Adjusted gross profit was $101 million compared to $78 million.
  • GAAP income (loss) from operations was $17 million, compared to ($8) million. Adjusted income from operations was $27 million, compared to $23 million.
  • GAAP net income (loss) was $15 million, compared to ($1) million. Adjusted net income was $26 million compared to $24 million.
  • GAAP earnings (loss) per share was $0.26 on a fully diluted basis, compared to ($0.01). Adjusted earnings per share was $0.46 on a fully diluted basis, compared to $0.43.

MARGIN SUMMARY

GAAP Margins Q3 2025 Q3 2024 Q3-YTD
2025 		Q3-YTD
2024
Gross Margin 53.2% 50.0% 52.3% 50.5%
Operating (EBIT) Margin 8.9% (5.1)% 6.9% 0.3%
Adjusted (non-GAAP) Margins Q3 2025 Q3 2024 Q3-YTD
2025 		Q3-YTD
2024
Gross Margin 53.3% 50.7% 52.7% 50.3%
Operating (EBIT) Margin 14.2% 14.9% 13.3% 12.2%
EBITDA Margin 19.0% 20.7% 18.7% 17.6%

Cash and cash equivalents at September 30, 2025, were $749 million, compared to $757 million at December 31, 2024.

FINANCIAL GUIDANCE FOR FULL YEAR 2025

All Adjusted figures are non-GAAP

Our financial guidance for the full year 2025 is based on expectations for our existing business. Our GAAP and Adjusted (non-GAAP) guidance excludes the impact of any potential or pending business acquisitions in 2025, and future fluctuations in foreign currency exchange rates.

CURRENT GUIDANCE
(at October 28, 2025)
FY 2025 GAAP Adjusted (non-GAAP)
Total Reported Revenue $729M - $737M $729M - $737M
Reported Growth 15% - 16% 15% - 16%
Organic Growth - 12% - 13.5%
Organic, Non-COVID Growth - 14% - 15.5%
Non-COVID Growth - 17% - 18%
Gross Margin 51.5% - 52.5% 52% - 53%
Income from Operations $50M - $52M $98M - $100M
Operating Margin ~7% ~13.5%
Other Income (Expense) ~$7.5M ~$21M
Adjusted EBITDA Margin - ~19%
Tax Rate on Pre-Tax Income 17% - 18% 21% - 22%
Net Income $46.5M - $48M $93.5M - $95M
Earnings Per Share - Diluted $0.82 - $0.85 $1.65 - $1.68

Revenue guidance reflects a ~1% tailwind from foreign currency.

Conference Call and Webcast Access

Repligen will host a conference call and webcast today, October 28, 2025, at 8:30 a.m. ET, to discuss third quarter 2025 financial results, corporate developments and financial guidance for 2025. The conference call will be accessible by dialing toll-free (800) 715-9871 for domestic callers or (646) 307-1963 for international callers. No passcode is required for the live call. In addition, a webcast will be accessible via the Investor Relations section of the Company’s website. Both the conference call and webcast will be archived for a period following the live event. You can access the replay on the Investor Relations section of the Company's website.

About Repligen Corporation

Repligen Corporation is a global life sciences company that develops and commercializes highly innovative bioprocessing technologies and systems that enable efficiencies in the process of manufacturing biological drugs. We are “inspiring advances in bioprocessing” for the customers we serve; primarily biopharmaceutical drug developers and contract development and manufacturing organizations (CDMOs) worldwide. Our focus areas are Filtration and Fluid Management, Chromatography, Process Analytics and Proteins. Our corporate headquarters are located in Waltham, Massachusetts, and the majority of our manufacturing sites are in the U.S., with additional key sites in Estonia, France, Germany, Ireland, the Netherlands and Sweden. For more information about the company see our website at www.repligen.com, and follow us on LinkedIn.

Non-GAAP Measures of Financial Performance

To supplement our financial statements, which are presented on the basis of U.S. generally accepted accounting principles (GAAP), the following Adjusted (non-GAAP) measures of financial performance are included in this release: organic non-COVID revenue and non-COVID revenue growth; organic revenue and organic revenue growth; adjusted cost of goods sold, adjusted gross profit and adjusted gross margin; adjusted R&D expense and adjusted SG&A expense; adjusted income from operations and adjusted operating margin; adjusted pre-tax income; adjusted net income; adjusted earnings per share (diluted); adjusted earnings before interest, taxes, depreciation and amortization (EBITDA), and adjusted EBITDA margin. The Company provides the impact of foreign currency translation, to enable determination of revenue growth rates at constant currency. To calculate the impact of foreign currency translation, the Company converts actual net sales from local currency to U.S. dollars using constant foreign currency exchange rates in the current and prior year periods.

The Company’s non-GAAP financial results and/or non-GAAP guidance exclude the impact of: acquisition and integration costs; restructuring charges including the costs of severance and accelerated depreciation among other charges; inventory step-up costs and adjustments; incremental costs attributed to CEO transition; contingent consideration related to the Company’s acquisitions; intangible amortization costs; non-cash interest expense related to the accretion of the debt discount; amortization of debt issuance costs related to Company’s convertible debt; foreign currency impact of certain intercompany loans; and, the related impact on tax of non-GAAP charges. These costs are excluded because management believes that such expenses do not have a direct correlation to future business operations, nor do the resulting charges recorded accurately reflect the performance of our ongoing operations for the period in which such charges are recorded.

NOTE:

All reconciliations of above GAAP figures (reported or guidance) to adjusted (non-GAAP) figures are detailed in the tables included later in this press release. When analyzing the Company’s operating performance and guidance, investors should not consider non-GAAP measures as a substitute for the comparable financial measures prepared in accordance with GAAP.

Forward-Looking Statements

This press release contains forward-looking statements, which are made pursuant to and in reliance upon the safe harbor provisions of federal securities laws, including the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statements contained herein which do not describe historical facts, including, among others, any express or implied statements or guidance regarding current or future financial performance and position, including our 2025 financial guidance and related assumptions; expected demand in the markets in which we operate; expectations regarding the acquisition of 908 Devices’ bioprocessing portfolio; and the expected performance of our business and momentum across our portfolio, are based on management’s current expectations and beliefs and are forward-looking statements which involve risks and uncertainties that could cause actual results to differ materially from those discussed in such forward-looking statements.

Such risks and uncertainties include, among others, our ability to successfully grow our bioprocessing business; our ability to manage through and predict headwinds; the risk that we have assumed that markets and franchises will improve and grow as predicted; our ability to achieve our 2025 financial guidance; our ability to develop and commercialize products and the market acceptance of our products; our ability to successfully integrate any acquired businesses and relevant personnel in a timely manner or at all, and to achieve the expected benefits of such acquisitions; the risk that demand for our products could decline, which could adversely impact our future revenues, cash flows, results of operations and financial condition; our ability to compete with larger, better financed bioprocessing companies; risks around the Company’s effectiveness of disclosure controls and procedures and the effectiveness of our internal control over financial reporting; our compliance with all U.S. Food and Drug Administration and European Medicines Evaluation Agency regulations; our volatile stock price; the impact of tariffs on our business, and other risks and uncertainties detailed in Repligen’s filings with the U.S. Securities and Exchange Commission (the Commission), including our Annual Report on Form 10-K for the year ended December 31, 2024 and in subsequently filed reports with the Commission, including our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, and any subsequent filings made with the Commission, which are available at the Commission’s website at www.sec.gov. Actual results may differ materially from those Repligen contemplated by these forward-looking statements, which reflect management’s current views, expectations, and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions, and are based only on information currently available to us. Repligen cautions you not to place undue reliance on any forward-looking statements, which speak only as of the date they are made. Repligen disclaims any obligation to update or revise any such statements to reflect any change in expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.

Repligen Contact:
Jacob Johnson
VP, Investor Relations
(781) 419-0204
[email protected]


REPLIGEN CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited, amounts in thousands, except per share data)

Three Months Ended September 30, Nine Months Ended September 30,
2025 2024 2025 2024
Revenue:
Product $ 188,766 $ 154,834 $ 540,232 $ 466,784
Royalty and other revenue 39 37 111 108
Total revenue 188,805 154,871 540,343 466,892
Costs and operating expenses:
Cost of goods sold 88,290 77,383 257,929 231,088
Research and development 14,175 9,710 41,057 31,523
Selling, general and administrative 73,663 75,610 216,145 202,894
Change in fair value of contingent consideration (4,148 ) — (12,087 ) —
Total costs and operating expenses 171,980 162,703 503,044 465,505
Income (loss) from operations 16,825 (7,832 ) 37,299 1,387
Other income (expenses):
Investment income 6,921 9,130 20,820 27,534
Interest expense (5,414 ) (5,122 ) (16,018 ) (15,269 )
Amortization of debt issuance costs (416 ) (429 ) (1,243 ) (1,432 )
Other (expenses) income, net (804 ) 3,104 2,412 (647 )
Other income, net 287 6,683 5,971 10,186
Income (loss) before income taxes 17,112 (1,149 ) 43,270 11,573
Income tax provision (benefit) 2,201 (495 ) 7,663 3,218
Net income (loss) $ 14,911 $ (654 ) $ 35,607 $ 8,355
Earnings (loss) per share:
Basic $ 0.27 $ (0.01 ) $ 0.63 $ 0.15
Diluted $ 0.26 $ (0.01 ) $ 0.63 $ 0.15
Weighted average common shares outstanding:
Basic 56,265 56,012 56,208 55,896
Diluted 56,532 56,012 56,520 56,315


September 30, December 31,
Balance Sheet Data 2025 2024
Cash and cash equivalents $ 748,747 $ 757,355
Working capital 965,349 939,254
Total assets 2,923,711 2,829,666
Long-term obligations 709,488 730,161
Accumulated earnings 442,961 407,354
Stockholders' equity 2,083,087 1,972,718


REPLIGEN CORPORATION
RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES

(Unaudited, amounts in thousands, except percentage and earnings per share data)
In all tables below, totals may not add due to rounding

Reconciliation of Total Revenue (GAAP) Growth to Organic Non-COVID Revenue Growth (Non-GAAP)

Three Months Ended
September 30, 		Nine Months Ended
September 30,
2025 2024 2025 2024
TOTAL REPORTED REVENUE (GAAP) GROWTH 22 % 10 % 16 % 0 %
Acquisition revenue (2 )% (3 )% (1 )% (3 )%
Currency exchange (2 )% 0 % (1 )% 1 %
ORGANIC REVENUE GROWTH (NON-GAAP) 18 % 7 % 14 % (2 )%
COVID revenue 0 % 0 % 3 % (1 )%
ORGANIC NON-COVID REVENUE GROWTH (NON-GAAP) 18 % 7 % 16 % (4 )%

Reconciliation of Income (Loss) from Operations (GAAP) to Adjusted Income from Operations (Non-GAAP)

Three Months Ended
September 30, 		Nine Months Ended
September 30,
2025 2024 2025 2024
INCOME (LOSS) FROM OPERATIONS (GAAP) $ 16,825 $ (7,832 ) $ 37,299 $ 1,387
ADJUSTMENTS TO INCOME (LOSS) FROM OPERATIONS (GAAP):
Acquisition and integration costs 4,406 1,819 14,721 4,897
Restructuring activities and other related charges (1) (789 ) 2,579 1,089 1,939
Incremental costs attributed to CEO transition (2) — 17,379 — 22,346
Intangible amortization 9,963 8,570 29,288 25,926
Contingent Consideration (4,148 ) — (12,087 ) —
Inventory step-up charges 492 — 1,069 —
Other (4) 21 586 707 586
ADJUSTED INCOME FROM OPERATIONS (NON-GAAP) $ 26,770 $ 23,101 $ 72,086 $ 57,081
OPERATING (EBIT) MARGIN 8.9 % (5.1 )% 6.9 % 0.3 %
ADJUSTED OPERATING (EBIT) MARGIN 14.2 % 14.9 % 13.3 % 12.2 %

Reconciliation of Net Income (Loss) (GAAP) to Adjusted Net Income (Non-GAAP)

Three Months Ended
September 30, 		Nine Months Ended
September 30,
2025 2024 2025 2024
NET INCOME (LOSS) (GAAP) $ 14,911 $ (653 ) $ 35,607 $ 8,355
ADJUSTMENTS TO NET INCOME (LOSS) (GAAP):
Acquisition and integration costs 4,406 1,819 14,721 4,897
Restructuring activities and other related charges (1) (789 ) 2,345 1,089 1,705
Incremental costs attributed to CEO transition (2) — 17,379 — 22,346
Intangible amortization 9,963 8,570 29,288 25,926
Contingent Consideration (4,232 ) — (15,285 ) —
Inventory step-up charges 492 — 1,069 —
Non-cash interest expense 3,907 3,610 11,481 10,610
Amortization of debt issuance costs 416 429 1,243 1,432
Foreign currency impact of certain intercompany loans (3) — (2,819 ) — 626
Other (4) 21 586 707 586
Tax effect of non-GAAP charges (3,233 ) (7,223 ) (10,662 ) (12,809 )
ADJUSTED NET INCOME (NON-GAAP) $ 25,862 $ 24,043 $ 69,258 $ 63,674

Reconciliation of Earnings (Loss) Per Share (GAAP) to Adjusted Earnings Per Share (Non-GAAP)

Three Months Ended
September 30, 		Nine Months Ended
September 30,
2025 2024 2025 2024
EARNINGS (LOSS) PER SHARE (GAAP) - DILUTED $ 0.26 $ (0.01 ) $ 0.63 $ 0.15
ADJUSTMENTS TO EARNINGS (LOSS) PER SHARE (GAAP) - DILUTED:
Acquisition and integration costs 0.08 0.03 0.26 0.09
Restructuring activities and other related charges (1) (0.01 ) 0.04 0.02 0.03
Incremental costs attributed to CEO transition (2) — 0.31 — 0.40
Intangible amortization 0.18 0.15 0.52 0.46
Contingent Consideration (0.07 ) — (0.27 ) —
Inventory step-up charges 0.01 — 0.02 —
Non-cash interest expense 0.07 0.06 0.20 0.19
Amortization of debt issuance costs 0.01 0.01 0.02 0.03
Foreign currency impact of certain intercompany loans (3) — (0.05 ) — 0.01
Other (4) — 0.01 0.01 0.01
Tax effect of non-GAAP charges (0.06 ) (0.13 ) (0.19 ) (0.23 )
ADJUSTED EARNINGS PER SHARE (NON-GAAP) - DILUTED (5) $ 0.46 $ 0.43 $ 1.23 $ 1.13

Reconciliation of Net Income (Loss) (GAAP) to Adjusted EBITDA (Non-GAAP)

Three Months Ended
September 30, 		Nine Months Ended
September 30,
2025 2024 2025 2024
NET INCOME (LOSS) (GAAP) $ 14,911 $ (653 ) $ 35,607 $ 8,355
ADJUSTMENTS:
Investment income (6,921 ) (9,130 ) (20,820 ) (27,534 )
Interest expense 5,414 5,121 16,018 15,269
Amortization of debt issuance costs 416 429 1,243 1,432
Income tax provision 2,201 (495 ) 7,663 3,218
Depreciation 10,101 8,825 29,506 25,297
Intangible amortization 9,908 8,598 29,288 26,009
EBITDA (NON-GAAP) $ 36,030 $ 12,695 $ 98,505 $ 52,046
OTHER ADJUSTMENTS:
Acquisition and integration costs 4,406 1,819 14,721 4,897
Restructuring activities and other related charges (1)(6) (789 ) 2,345 1,089 1,686
Incremental costs attributed to CEO transition (2) — 17,379 — 22,346
Contingent Consideration (4,232 ) — (15,285 ) —
Inventory step-up charges 492 — 1,069 —
Foreign currency impact of certain intercompany loans (3) — (2,819 ) — 626
Other (4) 21 586 707 586
ADJUSTED EBITDA (NON-GAAP) $ 35,928 $ 32,005 $ 100,806 $ 82,187
ADJUSTED EBITDA MARGIN (NON-GAAP) 19.0 % 20.7 % 18.7 % 17.6 %

Reconciliation of Cost of Goods Sold (GAAP) to Adjusted Cost Goods Sold (Non-GAAP)

Three Months Ended
September 30, 		Nine Months Ended
September 30,
2025 2024 2025 2024
COST OF GOODS SOLD (GAAP) $ 88,290 $ 77,383 $ 257,929 $ 231,088
ADJUSTMENT TO COST OF GOODS SOLD (GAAP):
Acquisition and integration costs (267 ) (90 ) (1,109 ) (289 )
Restructuring activities and other related charges (1) 1,011 (912 ) 801 1,050
Intangible amortization (280 ) — (747 ) —
Inventory step-up charges (492 ) — (1,069 ) —
ADJUSTED COST OF GOODS SOLD (NON-GAAP) $ 88,262 $ 76,381 $ 255,805 $ 231,849
GROSS MARGIN (GAAP) 53.2 % 50.0 % 52.3 % 50.5 %
ADJUSTED GROSS MARGIN (NON-GAAP) 53.3 % 50.7 % 52.7 % 50.3 %

Reconciliation of R&D Expense (GAAP) to Adjusted R&D Expense (Non-GAAP)

Three Months Ended
September 30, 		Nine Months Ended
September 30,
2025 2024 2025 2024
R&D EXPENSE (GAAP) $ 14,175 $ 9,710 $ 41,057 $ 31,523
ADJUSTMENT TO R&D EXPENSE (GAAP):
Acquisition and integration costs (568 ) (84 ) (1,681 ) (200 )
Restructuring activities and other related charges (1) (33 ) — (831 ) (449 )
Intangible amortization (618 ) — (1,510 ) —
ADJUSTED R&D EXPENSE (NON-GAAP) $ 12,956 $ 9,626 $ 37,035 $ 30,874

Reconciliation of SG&A Expense (GAAP) to Adjusted SG&A Expense (Non-GAAP)

Three Months Ended
September 30, 		Nine Months Ended
September 30,
2025 2024 2025 2024
SG&A EXPENSE (GAAP) $ 73,663 $ 75,610 $ 216,145 $ 202,894
ADJUSTMENTS TO SG&A EXPENSE (GAAP):
Acquisition and integration costs (3,571 ) (1,643 ) (11,931 ) (4,407 )
Restructuring activities and other related charges (1) (189 ) (1,667 ) (1,059 ) (2,540 )
Incremental costs attributed to CEO transition (2) — (17,379 ) — (22,346 )
Intangible amortization (9,065 ) (8,570 ) (27,031 ) (25,926 )
Other (4) (21 ) (586 ) (707 ) (586 )
ADJUSTED SG&A EXPENSE (NON-GAAP) $ 60,817 $ 45,764 $ 175,417 $ 147,089

Reconciliation of Net Income (GAAP) Guidance to Adjusted Net Income (Non-GAAP) Guidance

Year Ending December 31, 2025
Low End High End
GUIDANCE ON NET INCOME (GAAP) $ 46,500 $ 48,000
ADJUSTMENTS TO GUIDANCE ON NET INCOME (GAAP):
Acquisition and integration costs 17,735 17,735
Restructuring activities and other related charges (1) 1,072 1,072
Anticipated pre-tax amortization of acquisition-related intangible assets 39,344 39,344
Contingent Consideration (15,368 ) (15,368 )
Inventory Step-Up Costs and Adjustments 1,561 1,561
Non-cash interest expense 15,107 15,107
Amortization of debt issuance costs 1,654 1,654
Tax effect of non-GAAP charges (15,042 ) (15,042 )
Other (4) 707 707
Guidance rounding adjustment 230 230
GUIDANCE ON ADJUSTED NET INCOME (NON-GAAP) $ 93,500 $ 95,000

Reconciliation of Earnings Per Share (GAAP) Guidance to Adjusted Earnings Per Share (Non-GAAP) Guidance

Year Ending December 31, 2025
Low End High End
GUIDANCE ON EARNINGS PER SHARE (GAAP) - DILUTED $ 0.82 $ 0.85
ADJUSTMENTS TO GUIDANCE ON EARNINGS PER SHARE (GAAP) - DILUTED:
Acquisition and integration costs 0.31 0.31
Restructuring activities and other related charges (1) 0.02 0.02
Anticipated pre-tax amortization of acquisition-related intangible assets 0.70 0.70
Contingent Consideration (0.27 ) (0.27 )
Inventory Step-Up Costs and Adjustments 0.03 0.03
Non-cash interest expense 0.27 0.27
Amortization of debt issuance costs 0.03 0.03
Tax effect of non-GAAP charges (0.27 ) (0.27 )
Other (4) 0.01 0.01
Guidance rounding adjustment — —
GUIDANCE ON ADJUSTED EARNINGS PER SHARE (NON-GAAP) - DILUTED $ 1.65 $ 1.68
______________

FOOTNOTES FOR ALL TABLES ABOVE (amounts in thousands, except share data):

(1)    In July 2023, we began restructuring activities to simplify and streamline our organization and strengthen the overall effectiveness of our operations. The Company continued further restructuring activities during 2025 including severance, employee-related and facility exit costs. Cost of goods sold includes the benefit received from the sale of inventory that had previously been reserved as part of the restructuring plan of $975 and $572 for the three months ended September 30, 2025 and 2024, respectively, and $3,268 and $3,607 for the nine months ended September 30, 2025 and 2024, respectively.
(2)    Includes $17,379 and $22,346, of incremental stock compensation expense, recorded during the three and nine months ended September 30, 2024, respectively, attributable to the transition of the Company’s Chief Executive Officer (“CEO”) to Executive Chair of the Board announced by the Company on June 12, 2024. The incremental stock compensation expense was the result of the modification of the unvested equity awards held by the CEO immediately prior to the modification. This resulted in the revalue of his unvested awards and a change in his remaining requisite service period due to his change in duties upon transitioning to Executive Chair of the Board.
(3)    During the three and nine months ended September 30, 2024 we recorded foreign currency (gains) and losses on certain intercompany loans of ($2,819) and $626 respectively. This is recorded in Other (expenses) income, net within the condensed consolidated statements of operations.
(4)    Includes one-time events relating to a cybersecurity incident, net of insurance, and costs associated with the restatement of previously issued financial statements.
(5)    GAAP loss per share—diluted for the three months ended September 30, 2024, was determined excluding the effect of 358,372 shares of dilutive shares as the impact of such shares would have been antidilutive due to the net loss for the period, while the adjusted earnings per share—diluted for the same period was determined based upon diluted shares of 56,370,694 shares.
(6)    Excludes $19 of accelerated depreciation related to the restructuring plan for the nine months ended September 30, 2024. This amount is included in the depreciation line item of this table for that period.