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60 Degrees Pharmaceuticals Defines Potential Human Babesiosis Market Size for ARAKODA® (tafenoquine): Annual Max TAM, Sales of $245 Million; Cumulative through Patent Expiration, $1.1 Billion

60 Degrees Pharmaceuticals Defines Potential Human Babesiosis Market Size for ARAKODA® (tafenoquine): Annual Max TAM, Sales of $245 Million; Cumulative through Patent Expiration, $1.1 Billion

Business Upturn15-07-2025
New Drug Application intended for 2026, subject to generation of positive data from three U.S. clinical trials planned or in progress
Total addressable market (TAM) for ARAKODA for Human Babesiosis is informed by results of a 6,000 nationwide patient survey and a quantitative research study involving 300 healthcare professionals
WASHINGTON, July 15, 2025 (GLOBE NEWSWIRE) — 60 Degrees Pharmaceuticals, Inc. (NASDAQ: SXTP; SXTPW) ('60 Degrees' or the 'Company'), a pharmaceutical company focused on developing new medicines for infectious diseases, today announced it has determined the maximum size of the commercial market for ARAKODA® (tafenoquine) for treatment of human babesiosis to be 380,000 patients/$245,000,000 in sales annually, with a cumulative TAM of 1.17 million patients/$1.1 billion through patent expiration in 2035. Human babesiosis is a serious and debilitating emerging tick-borne illness often found as a co-infection in patients with Lyme Disease. There is a substantial unmet medical need due to the lack of FDA-approved treatments and the frequent generation of resistance associated with repeated use of generic drugs to manage persistent disease.
TAM calculations were based on a nation-wide 6,000 patient survey and a quantitative research survey of 300 healthcare professionals conducted by Format Analytics, an independent market research firm.
'The full extent to which 60 Degrees Pharmaceuticals may be in a position to improve the lives of large numbers of people who suffer with babesiosis is now coming into view,' said Chief Executive Office of 60 Degrees Pharmaceuticals, Geoff Dow, PhD. 'Yet, no approved treatment exists for this disabling and sometimes deadly disease. As the leader in this space, our goal is to continue advancing our robust clinical research program evaluating tafenoquine for babesiosis, and to secure approval of a supplemental indication for ARAKODA as expeditiously as possible.'
Clinical Babesiosis Studies Sponsored by 60 Degrees Pharmaceuticals
Three 60 Degrees Pharmaceuticals-sponsored clinical trials ( NCT06478641 , NCT06207370 , NCT06656351 ) are underway or planned to evaluate tafenoquine's safety and efficacy in treating humans diagnosed with babesiosis. Data are expected from one or more of these studies in the first half of 2026 and will be used as part of a planned New Drug Application (NDA) submission to the U.S. Food and Drug Administration for babesiosis, anticipated in 2026.
About ARAKODA® (tafenoquine)
Tafenoquine was discovered by Walter Reed Army Institute of Research. Tafenoquine was approved for malaria prophylaxis in 2018 in the United States as ARAKODA® and in Australia as KODATEF®. Both were commercially launched in 2019 and are currently distributed through pharmaceutical wholesaler networks in each respective country. They are available at retail pharmacies as a prescription-only malaria prevention drug. According to the Centers for Disease Control and Prevention, the long terminal half-life of tafenoquine, which is approximately 16 days, offers the advantage of less frequent dosing for the prophylaxis of malaria. ARAKODA® is not suitable for everyone, and patients and prescribers should review the Important Safety Information below. Individuals at risk of contracting malaria are prescribed ARAKODA® 2 x 100 mg tablets once per day for three days (the loading phase) prior to travel to an area of the world where malaria is endemic, 2 x 100 mg tablets weekly for up to six months during travel, then 2 x 100 mg in the week following travel.
Tafenoquine has not been proven to be effective for treatment or prevention of babesiosis and is not approved by the U.S. Food and Drug Administration for such an indication.
ARAKODA® (tafenoquine) Important Safety Information
ARAKODA® is an antimalarial indicated for the prophylaxis of malaria in patients aged 18 years and older.
Contraindications
ARAKODA® should not be administered to: Glucose-6-phosphate dehydrogenase ('G6PD') deficiency or unknown G6PD status;
Breastfeeding by a lactating woman when the infant is found to be G6PD deficient or if G6PD status is unknown;
Patients with a history of psychotic disorders or current psychotic symptoms; or
Known hypersensitivity reactions to tafenoquine, other 8-aminoquinolines, or any component of ARAKODA®.
Warnings and Precautions
Hemolytic Anemia: G6PD testing must be performed before prescribing ARAKODA® due to the risk of hemolytic anemia. Monitor patients for signs or symptoms of hemolysis.
G6PD Deficiency in Pregnancy or Lactation: ARAKODA® may cause fetal harm when administered to a pregnant woman with a G6PD-deficient fetus. ARAKODA® is not recommended during pregnancy. A G6PD-deficient infant may be at risk for hemolytic anemia from exposure to ARAKODA® through breast milk. Check infant's G6PD status before breastfeeding begins.
Methemoglobinemia: Asymptomatic elevations in blood methemoglobin have been observed. Initiate appropriate therapy if signs or symptoms of methemoglobinemia occur.
Psychiatric Effects: Serious psychotic adverse reactions have been observed in patients with a history of psychosis or schizophrenia, at doses different from the approved dose. If psychotic symptoms (hallucinations, delusions, or grossly disorganized thinking or behavior) occur, consider discontinuation of ARAKODA® therapy and evaluation by a mental health professional as soon as possible.
Hypersensitivity Reactions: Serious hypersensitivity reactions have been observed with administration of ARAKODA®. If hypersensitivity reactions occur, institute appropriate therapy.
Delayed Adverse Reactions: Due to the long half-life of ARAKODA® (approximately 16 days), psychiatric effects, hemolytic anemia, methemoglobinemia, and hypersensitivity reactions may be delayed in onset and/or duration.
Adverse Reactions: The most common adverse reactions (incidence greater than or equal to 1 percent) were: headache, dizziness, back pain, diarrhea, nausea, vomiting, increased alanine aminotransferase (ALT), motion sickness, insomnia, depression, abnormal dreams, and anxiety.
Drug Interactions
Avoid co-administration with drugs that are substrates of organic cation transporter-2 or multidrug and toxin extrusion transporters.
Use in Specific Populations
Lactation: Advise women not to breastfeed a G6PD-deficient infant or infant with unknown G6PD status during treatment and for 3 months after the last dose of ARAKODA®.
To report SUSPECTED ADVERSE REACTIONS, contact 60 Degrees Pharmaceuticals, Inc. at 1- 888-834-0225 or the FDA at 1-800-FDA-1088 or www.fda.gov/medwatch . The full prescribing information of ARAKODA® is located here .
About 60 Degrees Pharmaceuticals, Inc.
60 Degrees Pharmaceuticals, Inc., founded in 2010, specializes in developing and marketing new medicines for the treatment and prevention of infectious diseases that affect the lives of millions of people. 60 Degrees Pharmaceuticals, Inc. achieved FDA approval of its lead product, ARAKODA® (tafenoquine), for malaria prevention, in 2018. 60 Degrees Pharmaceuticals, Inc. also collaborates with prominent research organizations in the U.S., Australia, and Singapore. The 60 Degrees Pharmaceuticals, Inc. mission has been supported through in-kind funding from the U.S. Department of Defense and private institutional investors including Knight Therapeutics Inc., a Canadian-based Pan-American specialty pharmaceutical company. 60 Degrees Pharmaceuticals, Inc. is headquartered in Washington D.C., with a majority-owned subsidiary in Australia. Learn more at www.60degreespharma.com . The statements contained herein may include prospects, statements of future expectations and other forward-looking statements that are based on management's current views and assumptions and involve known and unknown risks and uncertainties. Actual results, performance or events may differ materially from those expressed or implied in such forward-looking statements.
Cautionary Note Regarding Forward-Looking Statements
This press release may contain 'forward-looking statements' within the meaning of the safeharbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward‐looking statements reflect the current view about future events. When used in this press release, the words 'anticipate,' 'believe,' 'estimate,' 'expect,' 'future,' 'intend,' 'plan,' or the negative of these terms and similar expressions, as they relate to us or our management, identify forward‐looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, activities of regulators and future regulations and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: there is substantial doubt as to our ability to continue on a going-concern basis; we might not be eligible for Australian government research and development tax rebates; if we are not able to successfully develop, obtain FDA approval for, and provide for the commercialization of non-malaria prevention indications for tafenoquine (ARAKODA® or other regimen) or Celgosivir in a timely manner, we may not be able to expand our business operations; we may not be able to successfully conduct planned clinical trials or patient recruitment in our trials might be slow or negligible; and we have no manufacturing capacity which puts us at risk of lengthy and costly delays of bringing our products to market. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the Securities and Exchange Commission ('SEC'), including the information contained in our Annual Report on Form 10-K filed with the SEC on April 1, 2024, and our subsequent SEC filings. Investors and security holders are urged to read these documents free of charge on the SEC's website at www.sec.gov. As a result of these matters, changes in facts, assumptions not being realized or other circumstances, the Company's actual results may differ materially from the expected results discussed in the forward-looking statements contained in this press release. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
Media Contacts:Sheila A. Burke
[email protected]
(484) 667-6330
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VOXXVOXX net sales contributed $78.8 million during the second quarter of 2025. The Company continues to work through the post-acquisition transition, with a focus on aligning product strategies, optimizing customer relationships, and identifying operational synergies across both businesses. Share RepurchasesDuring the second quarter of 2025, the Company repurchased 5.7 million shares of its common stock at an average price of $22.13 per share for a total of $126.2 million. Year-to-date, the Company has repurchased 8.8 million shares for a total of $202.2 million, at an average price of $22.97 per share. On July 16, 2025, the Company announced a new share repurchase authorization from the Board of Directors of an additional 40 million shares, representing more than 18% of the Company's outstanding shares as of June 30, 2025. This new authorization is in addition to the Company's existing repurchase authorization. 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Third quarter 2025 and calendar years 2025 and 2026 forecasted vehicle production volumes from S&P Global Mobility are shown below: Light Vehicle Production (per S&P Global Mobility mid-July light vehicle production forecast)Region Q3 2025 Q3 2024 % Change Calendar Year 2026 Calendar Year 2025 Calendar Year 2024 2026 vs 2025% Change 2025 vs 2024% Change North America 3.78 3.77 — % 14.32 14.85 15.45 (4)% (4)% Europe 3.69 3.73 (1)% 16.80 16.74 17.17 — % (3)% Japan and Korea 2.92 2.90 1 % 11.34 11.87 11.98 (4)% (1)% China 7.36 7.30 1 % 31.24 31.23 30.09 — % 4 % Total Light Vehicle Production 17.75 17.70 — % 73.70 74.69 74.69 (1)% — % Based on the updated light vehicle production forecast, first-half 2025 results, reduced demand in the China market stemming from recently implemented counter-tariffs, and the expected incremental sales contribution from the VOXX acquisition, Gentex is revising its full-year 2025 guidance. The updated guidance reflects the anticipated impact of all known tariffs effective as of July 25, 2025. 2025 Annual Guidance Consolidated Revenue: $2.44 – $2.61 billion (New consolidated guidance, previously: $2.15 – $2.32 billion) Gentex primary markets: $2.10 – $2.20 billion Gentex China market: $100 – $125 million VOXX Revenue estimate: $240 – $280 million Gross Margin: 33% – 34% (New consolidated guidance) Gentex (stand-alone): 34% – 34.5% (Previously 33% - 34%) VOXX (stand-alone): 27% – 29% Operating Expenses (New consolidated guidance, excluding severance): $370 – $390 million Gentex: $300 – $310 million (unchanged) VOXX: $70 – $80 million Tax Rate: 16% – 17% (previously: 15% – 17%) Capital Expenditures: $100 – $125 million (unchanged) Depreciation & Amortization: $91 – $98 million (New consolidated guidance) Gentex: $90 – $95 million VOXX: $1 - $3 million Given the current geopolitical environment, tariff landscape, and evolving customer sourcing strategies, the Company will continue to withhold revenue guidance for calendar year 2026 until we have the required visibility needed to support future guidance. Closing Remarks'The second quarter began with a flurry of activity that has not slowed down. We closed the VOXX acquisition on April 1st and then moved very quickly into a chaotic period of global trade uncertainty that lasted for the entire quarter and remains unresolved. It was, nevertheless, a very productive quarter, as we continued to make progress on our path to improved profitability. Our teams are performing at a very high level and our operational efficiency is improving significantly versus the same time last year. These improvements played a key role in driving strong revenue and profitability improvements, despite revenue reductions in the domestic China market and the lower than expected light vehicle production in our primary markets. Over the next several quarters, the Company will continue executing the margin improvement initiatives that are targeted to get the core margin profile in line with our long-term target of 35 - 36%. While we are working on those targets, we are also working with the VOXX team to ensure the combined organization is appropriately structured to support long-term profitability and shareholder value,' concluded Downing. 'On the product front, we continue to make significant strides in the development of large area devices and we remain very confident that the technology breakthroughs we have made in the last year will create significant opportunities for our dimmable visor, sunroof, side-window, and panoramic roof applications globally,' said CTO and COO, Neil Boehm. 'Additionally, we continue to make progress on our launches of Driver Monitoring System ("DMS") platforms for four key customers as demand for safety and driver-assist technology continues to accelerate across global markets. We are increasingly confident in the strength of our technology roadmap and our team's ability to deliver the best scalable technology platforms that create value for our customers and end consumers,' concluded Boehm. Safe Harbor for Forward-Looking StatementsThis news release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The statements contained in this communication that are not purely historical are forward-looking statements. Forward-looking statements give the Company's current expectations or forecasts of future events. These forward-looking statements generally can be identified by the use of words such as 'anticipate,' 'believe,' 'could,' 'estimate,' 'expect,' 'forecast,' 'future,' 'goal,' 'guidance,' 'hope,' 'intend,' "likely", 'may,' 'opinion,' 'optimistic,' 'plan,' 'poised,' 'predict,' 'project,' 'should,' 'strategy,' 'target,' 'will,' "work to," and variations of such words and similar expressions. Such statements are subject to risks and uncertainties that are often difficult to predict and beyond the Company's control, and could cause the Company's results to differ materially from those described. These risks and uncertainties include, without limitation: changes in general industry or regional market conditions, including the impact of inflation; changes in consumer and customer preferences for our products (such as cameras replacing mirrors and/or autonomous driving); our ability to be awarded new business; continued uncertainty in pricing negotiations with customers and suppliers; loss of business from increased competition; changes in strategic relationships; customer bankruptcies or divestiture of customer brands; fluctuation in vehicle production schedules (including the impact of customer employee strikes); changes in product mix; raw material and other supply shortages; labor shortages, supply chain constraints and disruptions; our dependence on information systems; higher raw material, fuel, energy and other costs; unfavorable fluctuations in currencies or interest rates in the regions in which we operate; costs or difficulties related to the integration and/or ability to maximize the value of any new or acquired technologies and businesses; changes in regulatory conditions; warranty and recall claims and other litigation and customer reactions thereto; possible adverse results of pending or future litigation or infringement claims; changes in tax laws; import and export duty and tariff rates in or with the countries with which we conduct business; negative impact of any governmental investigations and associated litigation, including securities litigation relating to the conduct of our business; and force majeure events. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law or the rules of the NASDAQ Global Select Market. Accordingly, any forward-looking statement should be read in conjunction with the additional information about risks and uncertainties identified under the heading 'Risk Factors' in the Company's latest Form 10-K and Form 10-Q filed with the SEC, which risks and uncertainties include tariffs that have affected, are affecting, and will continue to affect, general economic and industry conditions, customers, suppliers, and the regulatory environment in which the Company operates. Includes content supplied by S&P Global Mobility Light Vehicle Production Forecast of July 16, 2025 ( Second Quarter Conference CallA conference call related to this news release will be simulcast live on the Internet beginning at 9:30 a.m. ET today, July 25, 2025. Participants who wish to ask questions may register for the call at It is recommended that participants join 10 minutes prior to the event start, although they may register ahead of the call and dial in at any time during the call. Participants may listen to the call via audio streaming A webcast replay will be available approximately 24 hours after the conclusion of the call at About the CompanyFounded in 1974, Gentex Corporation (The NASDAQ Global Select Market: GNTX) is a leading supplier of digital vision, connected car, dimmable glass, fire protection technologies, medical devices, and consumer electronics. Visit the Company's web site at Contact Information:Gentex Investor & Media ContactJosh O'Berski616.931.3505 GENTEX CORPORATIONAUTO-DIMMING MIRROR SHIPMENTS Three Months Ended June 30, Six Months Ended June 30, 2025 2024 % Change 2025 2024 % Change North American Interior Mirrors 2,221 2,346 (5)% 4,470 4,608 (3)% North American Exterior Mirrors 1,524 1,705 (11)% 2,895 3,326 (13)% Total North American Mirror Units 3,746 4,051 (8)% 7,365 7,934 (7)% International Interior Mirrors 5,313 5,189 2 % 10,453 10,744 (3)% International Exterior Mirrors 2,517 2,944 (15)% 5,300 5,978 (11)% Total International Mirror Units 7,830 8,133 (4)% 15,753 16,721 (6)% Total Interior Mirrors 7,534 7,535 — % 14,923 15,352 (3)% Total Exterior Mirrors 4,041 4,649 (13)% 8,194 9,304 (12)% Total Auto-Dimming Mirror Units 11,575 12,184 (5)% 23,118 24,655 (6)% Note: Percent change and amounts may not total due to rounding. GENTEX CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) Three Months Ended June 30, 2025 and 2024 Supplemental Information Consolidated Gentex VOXX 2025 2024 Net Sales $ 579,024,658 $ 78,833,552 $ 657,858,210 $ 572,925,778 Cost of Goods Sold 374,545,311 58,021,996 432,567,307 384,362,469 Gross Profit 204,479,347 20,811,556 225,290,903 188,563,309 Engineering, Research & Development 45,444,027 6,027,250 51,471,277 44,003,994 Selling, General & Administrative 29,077,498 19,437,857 48,515,355 29,675,293 Severance Expense 6,196,902 587,234 6,784,136 — Operating Expenses 80,718,427 26,052,341 106,770,768 73,679,287 Income (Loss) from Operations 123,760,920 (5,240,785 ) 118,520,135 114,884,022 Other (Loss)/Income (3,141,223 ) 91,227 (3,049,996 ) (13,553,043 ) Income (Loss) before Income Taxes 120,619,697 (5,149,558 ) 115,470,139 101,330,979 Income Tax Provision (Benefit) 20,537,066 (717,377 ) 19,819,689 15,290,541 Net Income (Loss) 100,082,631 (4,432,181 ) $ 95,650,450 $ 86,040,438 Less: Net loss attributable to non-controlling interest — (389,134 ) (389,134 ) — Net Income (Loss) Attributable to Gentex Corporation $ 100,082,631 $ (4,043,047 ) $ 96,039,584 $ 86,040,438 Earnings Per Share Attributable to Gentex Corporation(1) Basic $ 0.45 $ (0.02 ) $ 0.43 $ 0.37 Diluted $ 0.45 $ (0.02 ) $ 0.43 $ 0.37 Cash Dividends Declared per Share $ 0.120 $ 0.120 (1) Earnings Per Share has been adjusted to exclude the portion of net income allocated to participating securities as a result of share-based payment awards. GENTEX CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) Six Months Ended June 30, 2025 and 2024 Supplemental Information Gentex VOXX 2025 2024 Net Sales $ 1,155,797,748 $ 78,833,552 $ 1,234,631,300 $ 1,163,150,989 Cost of Goods Sold 759,584,814 58,021,996 817,606,810 772,350,073 Gross Profit 396,212,934 20,811,556 417,024,490 390,800,916 Engineering, Research & Development 91,368,391 6,027,250 97,395,641 86,185,980 Selling, General & Administrative 59,010,503 19,437,857 78,448,360 60,384,602 Severance Expense 9,086,014 587,234 9,673,248 — Operating Expenses 159,464,908 26,052,341 185,517,249 146,570,582 Income (Loss) from Operations 236,748,026 (5,240,785 ) 231,507,241 244,230,334 Other (Loss)/Income (2,500,747 ) 91,227 (2,409,520 ) (15,251,428 ) Income before Income Taxes 234,247,279 (5,149,558 ) 229,097,721 228,978,906 Provision for Income Taxes 39,290,603 (717,377 ) 38,573,226 34,707,753 Net Income (Loss) 194,956,676 (4,432,181 ) $ 190,524,495 $ 194,271,153 Less: Net loss attributable to non-controlling interest — (389,134 ) (389,134 ) — Net Income (Loss) Attributable to Gentex Corporation $ 194,956,676 $ (4,043,047 ) $ 190,913,629 $ 194,271,153 Earnings Per Share Attributable to Gentex Corporation(1) Basic $ 0.86 $ (0.02 ) $ 0.85 $ 0.84 Diluted $ 0.86 $ (0.02 ) $ 0.85 $ 0.84 Cash Dividends Declared per Share $ 0.240 $ 0.240 (1) Earnings Per Share has been adjusted to exclude the portion of net income allocated to participating securities as a result of share-based payment awards. GENTEX CORPORATION AND SUBSIDIARIESCONDENSED CONSOLIDATED BALANCE SHEETS June 30, 2025 December 31, 2024 (Unaudited) (Note) ASSETS Cash and Cash Equivalents $ 119,774,840 $ 233,318,766 Short-Term Investments 21,303,330 22,304,829 Accounts Receivable, net 372,961,789 295,344,353 Inventories 475,719,663 436,497,445 Other Current Assets 72,217,004 49,862,777 Total Current Assets 1,061,976,626 1,037,328,170 Plant and Equipment - Net 783,863,952 728,481,467 Goodwill 340,668,927 340,668,927 Long-Term Investments 267,045,895 339,604,044 Intangible Assets, net 186,550,142 195,157,160 Patents and Other Assets, net 173,711,794 119,581,207 Total Other Assets 967,976,758 995,011,338 Total Assets $ 2,813,817,336 $ 2,760,820,975 LIABILITIES AND SHAREHOLDERS' INVESTMENT Current Liabilities $ 336,933,865 $ 252,692,676 Other Non-current Liabilities 43,755,486 36,028,644 Redeemable Non-controlling Interest 2,490,261 — Shareholders' Investment 2,430,637,724 2,472,099,655 Total Liabilities & Shareholders' Investment $ 2,813,817,336 $ 2,760,820,975 Note: The condensed consolidated balance sheet at December 31, 2024 has been derived from the audited consolidated financial statements at that date, but does not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. GENTEX CORPORATION AND SUBSIDIARIESRECONCILIATION OF NON-GAAP MEASURES (Unaudited) In this press release, the Company has provided information regarding certain non-GAAP financial measures, which are reconciled to their closest GAAP financial measure in the following schedules. Use of the term "adjusted" or "excluding" in connection with a financial measure identifies and reflects a non-GAAP financial measure. Non-GAAP Financial Measures: The Company has presented Adjusted Gross Profit, Adjusted Gross Margin, Adjusted Operating Expenses, and Adjusted Operating Income (Loss) as supplemental measures of the Company's performance. Current quarter Adjusted Gross Profit, Adjusted Operating Expenses, and Adjusted Operating Income (Loss) exclude certain purchase price adjustments pursuant to ASC 805, acquisition related costs, and severance costs set forth in the table below. Current quarter Adjusted Gross Margin is defined as Adjusted Gross Profit divided by Net Sales. (Unaudited) Three Months Ended June 30, Gentex VOXX Consolidated 2025 Consolidated 2024 Gross Profit - GAAP $ 204,479,347 $ 20,811,556 $ 225,290,903 $ 188,563,309 Inventory purchase price step-up adjustments pursuance to ASC 805 — 2,498,442 2,498,442 — Adjusted Gross Profit - (Non-GAAP) $ 204,479,347 $ 23,309,998 $ 227,789,345 $ 188,563,309 Gross Margin - GAAP 35.3 % 26.4 % 34.2 % 32.9 % Adjusted Gross Margin - (Non-GAAP) 35.3 % 29.6 % 34.6 % 32.9 % Operating Expenses - GAAP 80,718,427 26,052,341 106,770,768 73,679,287 Less: Acquisition Related Costs 957,207 1,515,844 2,473,051 — Severance Costs 6,196,902 587,234 6,784,136 — Adjusted Operating Expenses - (Non-GAAP) $ 73,564,318 $ 23,949,263 $ 97,513,581 $ 73,679,287 Income (Loss) from Operations - GAAP 123,760,920 (5,240,785 ) $ 118,520,135 $ 114,884,022 Inventory purchase price step-up adjustments pursuance to ASC 805 — 2,498,442 2,498,442 — Acquisition Related Costs 957,207 1,515,844 2,473,051 — Severance Costs 6,196,902 587,234 6,784,136 — Adjusted Income (Loss) from Operations - (Non-GAAP) $ 130,915,029 $ (639,265 ) $ 130,275,764 $ 114,884,022 Adjusted Net Income and Adjusted Earnings per Diluted Share: Adjusted Net Income and Adjusted Earnings per Diluted Share are presented as supplemental measures of the Company's performance. Adjusted Net Income is defined as Net Income (Loss) adjusted for purchase price adjustments pursuant to ASC 805, acquisition related costs, and severance costs during the second quarter of 2025. Adjusted Earnings per Diluted Share is defined as Adjusted Net Income (Loss) divided by weighted average diluted shares outstanding. (Unaudited) Three Months Ended June 30, Gentex VOXX Consolidated 2025 Consolidated 2024 Net Income (Loss) Attributable to Gentex Corporation - GAAP $ 100,082,631 $ (4,043,047 ) $ 96,039,584 $ 86,040,438 Inventory purchase price step-up adjustments pursuance to ASC 805, net of tax — 2,068,710 2,068,710 — Acquisition Related Costs, net of tax 792,567 1,255,119 2,047,686 — Severance Costs, net of tax 5,131,035 486,230 5,617,265 — Net Income (Loss) Attributable to Gentex Corporation - (Non-GAAP) $ 106,006,233 $ (232,988 ) $ 105,773,245 $ 86,040,438 Adjusted Basic Earnings Per Share: Basic $ 0.48 $ — $ 0.47 $ 0.37 Diluted $ 0.48 $ — $ 0.47 $ 0.37 The Company believes that the presentation of these non-GAAP financial measures provides insight into the Company's core performance and trends with respect to the same. Management of the Company similarly uses such non-GAAP financial measures in assessing the business internally. This press release was published by a CLEAR® Verified individual.

Sierra Bancorp Declares Quarterly Cash Dividend
Sierra Bancorp Declares Quarterly Cash Dividend

Yahoo

time22 minutes ago

  • Yahoo

Sierra Bancorp Declares Quarterly Cash Dividend

PORTERVILLE, Calif., July 25, 2025--(BUSINESS WIRE)--Sierra Bancorp (Nasdaq: BSRR), parent of Bank of the Sierra, announced that its Board of Directors has declared a regular quarterly cash dividend of $0.25 per share. The dividend was approved subsequent to the Board's review of the Company's financial performance and capital for the quarter ended June 30, 2025, and will be paid on August 14, 2025, to shareholders of record as of August 4, 2025. Counting dividends paid by Bank of the Sierra prior to the formation of Sierra Bancorp, the Company has paid regular cash dividends to shareholders every year since 1987, comprised of annual dividends through 1998 and quarterly dividends thereafter. The dividend noted in today's announcement marks the Company's 106th consecutive quarterly cash dividend. Sierra Bancorp is the holding Company for Bank of the Sierra ( which is in its 48th year of operations and is one of the largest independent banks headquartered in the South San Joaquin Valley. Bank of the Sierra is a community-centric regional bank, which offers a broad range of retail and commercial banking services through full-service branches located within the counties of Tulare, Kern, Kings, Fresno, Ventura, San Luis Obispo, and Santa Barbara. The Bank also maintains an online branch and provides specialized lending services through an agricultural credit center in Templeton, California. In 2025, Bank of the Sierra was recognized as one of the strongest and top-performing community banks in the country, with a 5-star rating from Bauer Financial. Forward-Looking Statements The statements contained in this release that are not historical facts are forward-looking statements based on management's current expectations and beliefs concerning future developments and their potential effects on the Company. Readers are cautioned not to unduly rely on forward-looking statements. Actual results may differ from those projected. These forward-looking statements involve risks and uncertainties including but not limited to the health of the national and local economies including the impact to the Company and its customers resulting from changes to, and the level of, inflation and interest rates; changes in laws, rules, regulations, or interpretations to which the Company is subject; the Company's ability to maintain and grow its deposit base; loan demand and continued portfolio performance, the Company's ability to attract and retain skilled employees, customers' service expectations; cyber security risks: the Company's ability to successfully deploy new technology, the success of acquisitions and branch expansion; operational risks including the ability to detect and prevent errors and fraud; the effectiveness of the Company's enterprise risk management framework; the impact of adverse developments at other banks, including bank failures, that impact general sentiment regarding the stability and liquidity of banks that could affect stock price; changes to valuations of the Company's assets and liabilities including the allowance for credit losses, earning assets, and intangible assets; changes to the availability of liquidity sources including borrowing lines and the ability to pledge or sell certain assets; costs related to litigation; the effects of severe weather events, pandemics, other public health crises, acts of war or terrorism, and other external events on our business; and other factors detailed in the Company's SEC filings, including the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's most recent Form 10‑K and Form 10‑Q. Category: FinancialSource: Sierra Bancorp View source version on Contacts Contact: Kevin McPhaill, President/Chief Executive OfficerPhone: (559) 782-4900 or (888) 454-BANKWebsite Address: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

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