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Johnson & Johnson Launches VARIPULSE™ Platform across Asia-Pacific, Advancing Atrial Fibrillation Treatment

Johnson & Johnson Launches VARIPULSE™ Platform across Asia-Pacific, Advancing Atrial Fibrillation Treatment

The VARIPULSE™ Platform is the first Pulsed Field Ablation (PFA) system fully integrated with the CARTO™ 3 electroanatomical mapping system, designed to drive efficiency, reproducibility, and procedural accuracy.1,i,ii,iii,iv,v,vi,vii,viii,ix
The VARIPULSE™ Platform is approved in Japan, Hong Kong, China, Australia, Taiwan and Korea.
IRVINE, Calif., July 8, 2025 /PRNewswire/ — Johnson & Johnson MedTech, a global leader in cardiac arrhythmia treatment, today announced the launch of the VARIPULSE™ Platform in Asia-Pacific. The platform is used to perform catheter ablation procedures for atrial fibrillation (AFib), an irregular and often rapid heartbeat caused by extra, uncoordinated electrical signals in the atria.x AFib is associated with structural changes in the heart due to underlying conditions and lifestyle factors.x,xi It significantly increases the risk of stroke, heart failure, and mortality.
The VARIPULSE™ Platform is the first PFA technology designed to streamline ablation and mapping through a single integrated workflow with the CARTO™ 3 System. This 3D electroanatomical cardiac mapping technology enables real-time visualization and supports precision, efficiency, reproducibility, and procedural accuracy for physicians treating patients with atrial fibrillation (AFib)xii. It enables safe and efficienti,ii,iii,iv,v,vi,vii, patient-centric therapy with minimal to no fluoroscopy exposurexiii,xiv,xv and is compatible with deep and/or conscious sedation.2,xvi,xvii
This innovation is backed by compelling clinical evidence. Both the inspIRE and admIRE clinical trials demonstrated strong safety and effectiveness of the VARIPULSE™ Platform:
In inspIRE, 80% of patients achieved freedom from recurrence with zero primary adverse events.xviii
In admIRE, results showed a 75% overall primary effectiveness success rate3, a 2.9% primary adverse event rate4,xix, 100% of patients achieved acute procedural success5, 43% had same-day discharge, and 25% of procedures were performed without fluoroscopy6.
In the ongoing VARIPURE registry, which included first-time users, there were no serious adverse events and no complications linked to the platform, including zero neurovascular events or coronary spasmsxx.
'The introduction of the VARIPULSE™ Platform in the Asia-Pacific region marks a significant advancement towards our goal of transforming atrial fibrillation care,' stated Jing Li, Vice President, Electrophysiology & Neurovascular, Johnson & Johnson MedTech, Asia Pacific. 'The adoption of the VARIPULSE™ Platform could demonstrate the unique value of integration with CARTO™ 3D to enhance efficiencies in the workflow of AFib treatment and improve patient outcomes.'
Atrial Fibrillation affects over 16 million people in Asia-Pacificxxi. Symptoms and clinical consequences of AFib disrupt patient's quality of life. The most common symptoms are heart palpitations, fatigue, shortness of breath, chest pain, and dizzinessxxii. As a progressive condition, early intervention is critical to reducing the risk of stroke, heart failure, and cardiovascular mortalityxxiii.
Unlike traditional ablation methods that use heat or cold, PFA uses short bursts of energy to affect heart tissue, potentially reducing the risk of damage to surrounding tissue such as the esophagus, pulmonary veins, and phrenic nerve.
'PFA, as a new type of energy, has the potential to further enhance the safety and efficacy of catheter ablation treatment, which is desirable for patients' said Dr. Yasuo Okumura7, Professor and Department Head, Vice Hospital Director, Nihon University School of Medicine, Itabashi Hospital, Tokyo, Japan. 'PFA is a relatively new medical technology, and therefore it is important to continue to assess its effectiveness and efficacy in Asia while ensuring proper use. But so far, we know that the integration of PFA technology with 3D mapping enables physicians to review their procedure in detail, and this contributes to quality of healthcare for patients.'
About the VARIPULSE™ PlatformThe VARIPULSE™ Platform is Johnson & Johnson MedTech's Pulsed Field ablation system. The fully integrated platform includes the VARIPULSE™ Catheter, TRUPULSE™ Generator, and CARTO™ 3 Mapping System VARIPULSE™ Software. The Platform is now approved for use in the United States, Europe, Asia Pacific, and Canada.
Cardiovascular Solutions from Johnson & Johnson MedTechAcross Johnson & Johnson, we are tackling the world's most complex and pervasive health challenges. Through a cardiovascular portfolio that provides healthcare professionals with advanced mapping and navigation, miniaturized tech, and precise ablation we are addressing conditions with significant unmet needs such as heart failure, coronary artery disease, stroke, and atrial fibrillation. We are the global leaders in heart recovery, circulatory restoration, and the treatment of heart rhythm disorders, as well as an emerging leader in neurovascular care, committed to taking on two of the leading causes of death worldwide in heart failure and stroke. For more, visit biosensewebster.com.
About Johnson & JohnsonAt Johnson & Johnson, we believe health is everything. Our strength in healthcare innovation empowers us to build a world where complex diseases are prevented, treated, and cured, where treatments are smarter and less invasive, and solutions are personal. Through our expertise in Innovative Medicine and MedTech, we are uniquely positioned to innovate across the full spectrum of healthcare solutions today to deliver the breakthroughs of tomorrow and profoundly impact health for humanity. Learn more about our MedTech sector's global scale and deep expertise in surgery, orthopaedics, vision, and cardiovascular solutions at https://thenext.jnjmedtech.com/. Follow us at @JNJMedTech and on LinkedIn. Biosense Webster, Inc. is a Johnson & Johnson MedTech company.
Cautions Concerning Forward-Looking Statements: This press release contains 'forward-looking statements' as defined in the Private Securities Litigation Reform Act of 1995 regarding the VARIPULSE™ Platform. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Johnson & Johnson. Risks and uncertainties include, but are not limited to: uncertainty of commercial success; challenges to patents; competition, including technological advances, new products and patents attained by competitors; manufacturing difficulties and delays; product efficacy or safety concerns resulting in product recalls or regulatory action; changes to applicable laws and regulations, including global health care reforms; changes in behavior and spending patterns of purchasers of health care products and services; and trends toward health care cost containment. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's most recent Annual Report on Form 10-K, including in the sections captioned 'Cautionary Note Regarding Forward-Looking Statements' and 'Item 1A. Risk Factors,' and in Johnson & Johnson's subsequent Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments.
© Johnson & Johnson and its affiliates 2025. All rights reserved. M_US_ELP_NAVI_403012
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1
When compared to procedures that did not use navigation systems.
2
Based on a subset of 29 deep sedation patients from the inspIRE study and 60 patients in inspIRE study. Procedures completed under sedation vs general anesthesia had comparable safety rates and procedure times, demonstrating safety and procedural efficiency.
3
Primary effectiveness was defined as 12-month freedom from documented (symptomatic or asymptomatic) atrial tachyarrhythmia (atrial fibrillation [AF]/atrial tachycardia [AT]/atrial flutter [AF]) episodes of ≥30 seconds duration based on rhythm monitoring during the post-blanking evaluation period (day 91-365), as well as freedom from other failure modes: failure to achieve entrance block in all PVs; >1 repeat ablation for atrial tachyarrhythmia during the 3-month blanking period or any repeat ablation during the evaluation period; use of a nonstudy catheter to treat the PVs and/or to ablate left atrial non-PV AF targets during the index procedure or to perform a repeat procedure during the 3-month blanking period; taking new or previously failed Class I/III AADs at greater doses during the evaluation period; continuous AF/AT/AFL of unknown origin during the evaluation period; or direct-current cardioversion during the evaluation period for AF/AT/AFL recurrences. The protocol defined performance goal is 50%.
4
Primary adverse events included device- or procedure- related death, major vascular access complications or bleeding, myocardial infarction, pericarditis, heart block, permanent phrenic nerve paralysis, stroke, thromboembolism, transient ischemic attack, pulmonary edema, and vagal nerve injury/gastroparesis within 7 days of the index ablation procedure. PAEs also included cardiac tamponade/perforation occurring up to 30 days post-procedure, atrioesophageal fistula occurring up to 90 days postprocedure, and PV stenosis occurring anytime during the 12-month follow-up period. The protocol-defined performance goal was 12%.
5
Acute procedural success was defined as the percent of participants with electrical isolation of all PVs with confirmed entrance block at the end of the procedure (n=255).
6
Visualization performed with ICE and the CARTO™ 3 System.
7
Dr. Okumura serves as a consultant for Johnson & Johnson but was not compensated for this announcement
________________________________________
i
Duytschaever M, De Potter T, Grimaldi M, et al. Paroxysmal Atrial Fibrillation Ablation Using a Novel Variable-Loop Biphasic Pulsed Field Ablation Catheter Integrated With a 3-Dimensional Mapping System: 1-Year Outcomes of the Multicenter inspIRE Study. Circ Arrhythm Electrophysiol. 2023;16(3):e011780. doi:10.1161/CIRCEP.122.011780 pg 4
ii
Reddy VY, Calkins H, Mansour M, Wazni O, Di Biase L, Bahu M, Newton D, Liu CF, Sauer WH, Goyal S, Iyer V, Nair D, Athill C, Hussein A, Whalen P, Melby D, Natale A; AdmIRE Trial Investigators. Pulsed Field Ablation to Treat Paroxysmal Atrial Fibrillation: Safety and Effectiveness in the AdmIRE Pivotal Trial. Circulation. 2024 Oct 8 pg 8
iii
Anter, E., Mansour, M., Nair, D.G. et al. Dual-energy lattice-tip ablation system for persistent atrial fibrillation: a randomized trial. Nat Med 30, 2303–2310 (2024). https://doi.org/10.1038/s41591-024-03022-6 pg 2
iv
Reddy VY, Lehmann JW, Gerstenfeld EP, Mugglin AS, Schneider CW, Achyutha AB, Mansour M. A randomized controlled trial of pulsed field ablation versus standard-of-care ablation for paroxysmal atrial fibrillation: The ADVENT trial rationale and design. Heart Rhythm O2. 2023 Mar 8;4(5):317-328. doi: 10.1016/j.hroo.2023.03.001. PMID: 37323994; PMCID: PMC10264259. Pg 6
v
VOLT CE Mark Study: Long-term safety and effectiveness of de novo PVI intreating AF. pg 3
vi
Scherr D, Turagam MK, Maury P, Blaauw Y, van der Voort P, Neuzil P, et al. Repeat procedures after pulsed field ablation for atrial fibrillation: MANIFEST-REDO study. Europace. 2025;2025(1):euaf012. doi:10.1093/europace/euaf012. Pg 4 results section
vii
Seemala SKR, Musikantow DR, Perdomo C, Malyshev Y, Ambesh P, Saleem M, et al. Pulsed field ablation (PFA) to treat atrial fibrillation and related arrhythmias: one-year outcomes of the VIRTUE trial. Poster PO-FP-006. Pg 1
viii
Fink T, Sciacca V, Bannmann K, et al. First experience using a novel variable loop catheter for mapping and pulsed field ablation of atrial fibrillation. Pacing Clin Electrophysiol. 2025 May;48(5):471-479. doi:10.1111/pace.15177. Epub 2025 Mar 28. PMID:40153431; PMCID:PMC12063197
ix
Fink T, Sciacca V, Bannmann K, et al. First experience using a novel variable loop catheter for mapping and pulsed field ablation of atrial fibrillation. Pacing Clin Electrophysiol. 2025 Mar 28. doi:10.1111/pace.15177. Epub ahead of print. PMID: 40153431.
x
Laizzo PA. Handbook of Cardiac Anatomy, Physiology, and Devices. 2015. Springer Science+Business Media. LLC: Switzerland
xi
Staerk L, Sherer JA, Ko D, Benjamin EJ, Helm RH. Atrial Fibrillation: Epidemiology, Pathophysiology, and Clinical Outcomes. Circ Res. 2017;120(9):1501-1517
xii
Di Biase L, Zou F, Lin AN, et al. Feasibility of Three-Dimensional Artificial Intelligence Algorithm Integration with Intracardiac Echocardiography for Left Atrial Imaging During Atrial Fibrillation Catheter Ablation. Europace. 2023 Aug 2;25(9):euad211.
xiii
Debreceni D, Janosi K, Bocz B, et al. (2023). Zero fluoroscopy catheter ablation for atrial fibrillation: a systematic review and meta-analysis. Front Cardiovasc Med;10:1178783. doi: 10.3389/fcvm.2023.1178783
xiv
Rajendra A, Hunter TD, Morales GX, et al. (2023). Steerable sheath visualizable under 3D electroanatomical mapping facilitates paroxysmal atrial fibrillation ablation with minimal fluoroscopy. J Interv Card Electrophysiol;66(2):381-388. doi: 10.1007/s10840-022-01332-8.
xv
Tahin T, Riba A, Nemeth B, et al. (2021). Implementation of a zero fluoroscopic workflow using a simplified intracardiac echocardiography guided method for catheter ablation of atrial fibrillation, including repeat procedures. BMC Cardiovasc Disord;21(1):407. doi: 10.1186/s12872-021-02219-8.
xvi
Grimaldi M, Quadrini F, Caporusso N, et al. Deep sedation protocol during atrial fibrillation ablation using a novel variable-loop biphasic pulsed field ablation catheter. Europace. 2023;25(9):euad222. doi:10.1093/europace/euad222. PMID: 37470452; PMCID: PMC10434733.
xvii
De Potter T, Grimaldi M, Duytschaever M, Anic A, Vijgen J, Neuzil P, Van Herendael H, Verma A, Skanes A, Scherr D, Pürerfellner H, Rackauskas G, Jais P, Reddy VY, et al; inspIRE Trial Investigators. Predictors of success for pulmonary vein isolation with pulsed-field ablation using a variable-loop catheter with 3D mapping integration: complete 12-month outcomes from inspIRE. Circ Arrhythm Electrophysiol. 2024;17(5):e012667. doi:10.1161/CIRCEP.123.012667. Epub 2024 Apr 24. PMID: 38655693; PMCID: PMC11111320.
xviii
Reddy V, Grimaldi M, Duytschaever M, Anic A. Predictors of Success for Pulmonary Vein Isolation with Pulsed Field Ablation Using a Variable Loop Catheter with 3D Mapping Integration: Complete 12-month outcomes from inspIRE [abstract]. In: AF Symposium.; February 2-4; Boston.
xix
Reddy V, Calkins H, Mansour M, et al. Pulsed field ablation to treat paroxysmal atrial fibrillation: safety and effectiveness in the admIRE pivotal trial. Circulation. Published online September 11, 2024. doi: 10.1161/CIRCULATIONAHA.124.070333.
xx
Bessière F, Kronborg MB, Sommer P, et al. Evaluating Safety Profile and Learning Curve With a Pulsed Field Ablation Variable Loop Circular Catheter in Procedures for AF: Observations From a Prospective, Multicenter, Postmarket Clinical Trial. Presented at HRS 2025; April 27, 2025; San Diego, CA.
xxi
Global Burden of Disease Collaborative Network (2017) Global Burden of Disease Study 2017 (GBD 2017) Results. Seattle, United States: Institute for Health Metrics and Evaluation (IHME), 2017. Accessed 2019-07-16. Available from http://ghdx.healthdata.org/gbd-results-tool.
xxii
American Heart Association . (2024, August 12). What are the symptoms of atrial fibrillation?. www.heart.org. https://www.heart.org/en/health-topics/atrial-fibrillation/what-are-the-symptoms-of-atrial-fibrillation-afib-or-af
xxiii
Joglar JA, Chung MK, Armbruster AL, et al. 2023 ACC/AHA/ACCP/HRS Guideline for the Diagnosis and Management of Atrial Fibrillation: A Report of the American College of Cardiology/American Heart Association Joint Committee on Clinical Practice Guidelines [published correction appears in Circulation. 2024 Jan 2;149(1):e167]. Circulation. 2024;149(1):e1-e156. doi:10.1161/CIR.0000000000001193
Media contacts:Carlos Taveras Ctaveras@its.jnj.comErin FarleyEfarley1@its.jnj.com
View original content:https://www.prnewswire.com/apac/news-releases/johnson–johnson-launches-varipulse-platform-across-asia-pacific-advancing-atrial-fibrillation-treatment-302499470.html
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ITURAN PRESENTS SECOND QUARTER 2025 RESULTS

Record revenue of $86.8 million and added 40,000 net new subscribers in the quarter AZOUR, Israel, Aug. 19, 2025 /PRNewswire/ — Ituran Location and Control Ltd. (NASDAQ: ITRN) today announced its consolidated financial results for the second quarter, ended June 30, 2025. Highlights of the Second Quarter of 2025 Added 40,000 net subscribers in the quarter. Revenue of $86.8 million, a 2% increase year-over-year. Net income increased to $13.5 million, a 2% increase year-over-year. EBITDA totaled $22.9 million, a decrease of 1% year-over-year. The Board declared a quarterly dividend of $10.0 million, or $0.50 per share. Management Comment Eyal Sheratzky, Co-CEO of Ituran said, 'I am pleased to report another solid quarter for Ituran, as we continue to execute on our strategic objectives and deliver steady growth in both our subscriber base and financial performance. We achieved this despite a brief and intensive war with Iran during the quarter, which caused a temporary cessation of new car sales in Israel which lead to somewhat lower product sales for Ituran. Looking at the broader picture, our results demonstrate ongoing expansion in our large subscriber base across our target geographies. We continue to launch attractive new and advanced telematics products and services adding value to our customer base, including a new product targeted to motorcycle owners which is seeing solid traction. Together with the new OEM we have recently started working with, 2025 is shaping up to be another year of growth and profitability for Ituran. We reiterate our expectations to grow our subscriber base by 220-240,000 net in 2025″. Eyal Sheratzky, Co-CEO of Ituran continued, 'In the second quarter, I am happy to announce that at Ituran we celebrated three decades since inception, twenty of those years as a public company on Nasdaq. We look forward to continuing our journey delivering long-term profitable growth, cash generation, and overall solid returns for Ituran's shareholders for the decades ahead.' Second Quarter 2025 Results Revenues for the quarter were $86.8 million, a 2% increase compared with $84.9 million in Q2 2024. It is noted that the second quarter strength of the US dollar versus some of the various local currencies in which the Company operates compared to the year-ago US dollar level, impacted the revenue growth when translated into US dollars. In local currencies, revenues grew by 4% year-over-year. 73% of revenues were from location-based service subscription fees, and 27% were from product revenues. Revenues from subscription fees for the quarter were $63.8 million, an increase of 6% over the second quarter of 2024. In local currencies, subscription revenue grew by 7% year-over-year. The subscriber grew to 2,548,000 by the end of June 2025, marking a quarterly increase of 40,000 and a year-over-year increase of 219,000. Product revenues for the quarter were $23.0 million, a decrease of 6% year-over-year. Product sales were impacted due to a cessation of new sales during the 12-day war between Israel and Iran during the second quarter. Gross profit for the quarter was $42.9 million (49.5% of revenues), an 8% increase compared with $39.8 million (46.9% of revenues) in the second quarter of 2024. Gross margin on subscription revenues was 57.9%, compared to 58.2% in the second quarter of last year. The gross margin on product revenues was 26.0%, compared to 18.9% last year. The variance in the gross margin between quarters reflects changes in the mix of products and services sold in the quarter. Operating income for the quarter was $18.3 million (21.1% of revenues), representing a 3% increase compared to $17.7 million (20.9% of revenues) in the second quarter of 2024. In local currencies, operating income grew by 6% year-over-year. EBITDA for the quarter was $22.9 million (26.4% of revenues), a decrease of 1% compared with $23.1 million (27.2% of revenues) in the second quarter of last year. In local currencies, EBITDA grew by 2% year-over-year. Finance expenses were $1.3 million compared with finance income of $0.1 million in the second quarter of last year. The expense this quarter was due to the strongly increased level of the Israeli Shekel compared to the US Dollar at the end of the quarter, which led to a lowering in value of US Dollar linked deposits in Israel, which caused a non-cash finance expense on those deposits. Net income for the quarter of 2025 was $13.5 million (15.5% of revenues), or diluted earnings per share of $0.68, an increase of 2% compared to $13.1 million (15.5% of revenues), or $0.66 per diluted share, in the second quarter of 2024. In local currencies, net income grew by 6% year-over-year. Cash flow from operations for the quarter was $22.4 million. On the balance sheet, as of June 30, 2025, the Company had net cash, including marketable securities, of $88.7 million, which includes no debt. This is compared with net cash, including marketable securities, of $77.3 million, as of year-end 2024. Dividend The Board of Directors declared a dividend of $10.0 million for the quarter. The current dividend takes into account the Company's continuing strong profitability, ongoing positive cash flow, and strong balance sheet. The Company will also be hosting a video conference call via the Zoom platform later today, Tuesday, August 19, 2025 at 9am Eastern Time and 4pm Israel time. On the call, management will review and discuss the results and will be available to answer investor questions. To participate in the Zoom call, please register at the following link. For those unable to listen to the live call, a replay of the call will be available from the day after the call in the investor relations section of Ituran's website. Certain statements in this press release are 'forward-looking statements' within the meaning of the Securities Act of 1933, as amended. These forward-looking statements include, but are not limited to, our plans, objectives, expectations and intentions and other statements contained in this report that are not historical facts as well as statements identified by words such as 'expects', 'anticipates', 'intends', 'plans', 'believes', 'seeks', 'estimates' or words of similar meaning. These statements are based on our current beliefs or expectations and are inherently subject to significant uncertainties and changes in circumstances, many of which are beyond our control. Actual results may differ materially from these expectations due to changes in global political, economic, business, competitive, market and regulatory factors, as well as factors related to the global COVID-19 pandemic. About Ituran Ituran is a leader in the emerging mobility technology field, providing value-added location-based services, including a full suite of services for the connected-car. Ituran offers Stolen Vehicle Recovery, fleet management as well as mobile asset location, management & control services for vehicles, cargo and personal security for the retail, insurance, financing industries and car manufacturers. Ituran is the largest OEM telematics provider in Latin America. Its products and applications are used by customers in over 20 countries. Ituran is also the founder of the Tel-Aviv based DRIVE startup incubator to promote the development of smart mobility technology. Ituran's subscriber base has been growing significantly since the Company's inception to over 2.5 million subscribers using its location-based services with a market leading position in Israel and Latin America. Established in 1995, Ituran has approximately 2,800 employees worldwide, with offices in Israel, Brazil, Argentina, Mexico, Ecuador, Columbia, India, Canada and the United States. For more information, please visit Ituran's website, at: Company Contact Udi Mizrahi udi_m@ Deputy CEO & VP Finance, Ituran (Israel) +972 3 557 1348 International Investor Relations Ehud Helft ituran@ EK Global Investor Relations (US) +1 212 378 8040 ITURAN LOCATION AND CONTROL LTD. CONDENSED CONSOLIDATED BALANCE SHEETS US dollars June 30, December 31, (In thousands) 2025 2024 (unaudited) Current assets Cash and cash equivalents 88,735 77,357 Investments in marketable securities 2 10 Accounts receivable (net of provision for credit loss) 59,899 47,688 Other current assets 48,279 46,067 Inventories 24,697 23,434 221,612 194,556 Long-term investments and other assets Investments in affiliated companies 549 519 Investments in other companies 1,799 1,491 Other non-current assets 5,961 5,853 Deferred income taxes 13,952 12,273 Funds in respect of employee rights upon retirement 24,510 21,823 46,771 41,959 Property and equipment, net 38,558 33,080 Operating lease right-of-use assets, net 8,814 8,947 Intangible assets, net 9,086 9,011 Goodwill 39,613 39,325 Total assets 364,454 326,878 ITURAN LOCATION AND CONTROL LTD. CONDENSED CONSOLIDATED BALANCE SHEETS (cont.) US dollars June 30, December 31, (In thousands) 2025 2024 (unaudited) Current liabilities Credit from banking institutions – 114 Accounts payable 20,621 18,847 Deferred revenues 24,534 22,857 Other current liabilities 53,183 45,904 98,338 87,722 Long-term liabilities Liability for employee rights upon retirement 31,617 27,593 Deferred income taxes 566 418 Deferred revenues 14,752 12,231 Operating lease liabilities, non-current 5,175 5,562 Other non-current liabilities 2,330 2,095 54,440 47,899 Stockholders' equity 206,043 185,227 Non-controlling interests 5,633 6,030 Total equity 211,676 191,257 Total liabilities and equity 364,454 326,878 ITURAN LOCATION AND CONTROL LTD. CONDENSED CONSOLIDATED STATEMENTS OF INCOME US dollars Six months periodended June 30, Three months periodended June 30, (in thousands, except per share data) 2025 2024 2025 2024 Revenues: Telematics services (unaudited) (unaudited) 125,936 121,352 63,756 60,417 Telematics products 47,312 48,543 23,037 24,452 173,248 169,895 86,793 84,869 Cost of revenues: Telematics services 52,734 50,746 26,835 25,225 Telematics products 35,574 39,802 17,037 19,840 88,308 90,548 43,872 45,065 Gross profit 84,940 79,347 42,921 39,804 Research and development expenses 9,920 9,117 5,058 4,594 Selling and marketing expenses 8,634 7,272 4,375 3,698 General and administrative expenses 29,369 28,307 15,131 13,851 Other expenses (income), net 27 (123) 21 (84) Operating income 36,990 34,774 18,336 17,745 Financing income (expenses), net (782) 131 (1,328) 56 Income before income tax 36,208 34,905 17,008 17,801 Income tax expenses (7,329) (7,205) (3,263) (3,775) Share in profit (losses) of affiliated companies, net (18) (122) 16 (41) Net income for the period 28,861 27,578 13,761 13,985 Less: net income attributable to non-controlling interest (816) (1,415) (308) (858) Net income attributable to the company 28,045 26,163 13,453 13,127 Basic and diluted earnings per share attributable to Company's stockholders 1.41 1.32 0.67 0.66 Basic and diluted weighted average number of shares outstanding (in thousands) 19,894 19,894 19,894 19,894 ITURAN LOCATION AND CONTROL LTD. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS US dollars Six months periodended June 30, Three months periodended June 30, (in thousands) 2025 2024 2025 2024 (unaudited) (unaudited) Cash flows from operating activities Net income for the period 28,861 27,578 13,761 13,985 Adjustments to reconcile net income to net cash from operating activities: Depreciation and amortization 9,230 10,651 4,602 5,353 Loss in respect of trading marketable securities and other investments 8 35 – 139 Increase in liability for employee rights upon retirement 1,622 1,680 591 918 Share in losses (profit) of affiliated companies, net 18 122 (16) 41 Deferred income taxes (387) (1,237) (302) (447) Capital loss (gain) on sale of property and equipment, net 89 (95) 58 (131) Increase in accounts receivable (7,691) (6,544) (1,127) (1,704) Decrease (increase) in other current and non-current assets 4,800 (4,371) 4,822 (886) Decrease (increase) in inventories (58) 1,529 72 1,008 Increase (decrease) in accounts payable (124) 1,816 (393) 2,286 Increase (decrease) in deferred revenues 1,354 372 607 (892) Increase (decrease) in other current and non-current liabilities 163 2,804 (249) 3,268 Net cash provided by operating activities 37,885 34,340 22,426 22,938 Cash flows from investment activities Increase in funds in respect of employee rights upon retirement, net of withdrawals (852) (1,515) (560) (808) Capital expenditures (11,874) (6,309) (5,264) (3,178) Return from (investments in) affiliated and other companies, net (110) 57 (106) (81) Repayment of (investment in) long-term deposit (23) 23 61 (41) Proceeds from sale of property and equipment 454 293 154 137 Net cash used in investment activities (12,405) (7,451) (5,715) (3,971) Cash flows from financing activities Short term credit from banking institutions, net (114) (331) – (58) Dividend paid (17,705) (12,533) (9,947) (7,759) Dividend paid to non-controlling interests (1,677) (1,630) – – Net cash used in financing activities (19,496) (14,494) (9,947) (7,817) Effect of exchange rate changes on cash and cash equivalents 5,394 (2,619) 6,288 (1,975) Net change in cash and cash equivalents 11,378 9,776 13,052 9,175 Balance of cash and cash equivalents at beginning of period 77,357 53,434 75,683 54,035 Balance of cash and cash equivalents at end of period 88,735 63,210 88,735 63,210 Supplementary information on financing activities not involving cash flows: In May 2025, the Company declared a dividend in an amount of US$10 million. The dividend was paid in July 2025. Logo – View original content:

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