Knight Therapeutics Inc. ranks on The Globe and Mail's sixth-annual Women Lead Here benchmark of executive gender diversity
'We are both proud and humble to have Knight Therapeutics Inc. once again featured on the Globe and Mail's Report on Canada's Women Lead Here, as one of the top companies for executive gender diversity within the Canadian corporate landscape and specialty pharmaceutical sector,' said Samira Sakhia, President and Chief Executive Officer of Knight. 'A culture of diversity is at the core of Knight's values, and we remain committed to fostering these principles every day, both within our company and in our unwavering dedication to improving the lives of patients'.
The Women Lead Here benchmark was established in 2020 by Report on Business magazine and applies a proprietary research methodology to provide an overview of the largest Canadian corporations with the highest degree of gender diversity among executive ranks. The ranked companies have made tangible and organizational progress related to executive gender parity.
For the 2025 ranking, Report on Business conducted a journalistic analysis of approximately 500 large publicly-traded Canadian companies based on revenue, evaluating the ratio of female-identifying to male-identifying executives in the top three tiers of executive leadership. The resultant data was applied to a weighted formula that also factored in company performance, diversity and year-to-year change.
In total, 93 companies earned the 2025 Women Lead Here seal, with a combined average of 46% of executive roles held by female-identifying individuals.
The 2025 Women Lead Here list is published in the April 2025 issue of Report on Business magazine, distributed with The Globe and Mail on March 29, 2025 and online at tgam.ca/WomenLeadHere
About The Globe and Mail
The Globe and Mail is Canada's foremost news media company, leading the national discussion and causing policy change through brave and independent journalism since 1844. With our award-winning coverage of business, politics and national affairs, The Globe and Mail newspaper reaches 6.1 million readers every week in our print or digital formats, and Report on Business magazine reaches 2.8 million readers in print and digital every issue. Our investment in innovative data science means that as the world continues to change, so does The Globe. The Globe and Mail is owned by Woodbridge, the investment arm of the Thomson family.
About Knight Therapeutics Inc.
Knight Therapeutics Inc., headquartered in Montreal, Canada, is a specialty pharmaceutical company focused on acquiring or in-licensing and commercializing pharmaceutical products for Canada and Latin America. Knight's Latin American subsidiaries operate under United Medical, Biotoscana Farma and Laboratorio LKM. Knight Therapeutics Inc.'s shares trade on TSX under the symbol GUD. For more information about Knight Therapeutics Inc., please visit the company's web site at www.knighttx.com or www.sedarplus.ca.
Forward-Looking Statement
This document contains forward-looking statements for Knight Therapeutics Inc. and its subsidiaries. These forward-looking statements, by their nature, necessarily involve risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements. Knight Therapeutics Inc. considers the assumptions on which these forward-looking statements are based to be reasonable at the time they were prepared but cautions the reader that these assumptions regarding future events, many of which are beyond the control of Knight Therapeutics Inc. and its subsidiaries, may ultimately prove to be incorrect. Factors and risks which could cause actual results to differ materially from current expectations are discussed in Knight Therapeutics Inc.'s Annual Report and in Knight Therapeutics Inc.'s Annual Information Form for the year ended December 31, 2024, as filed on www.sedarplus.ca. Knight Therapeutics Inc. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information or future events, except as required by law.
Investor Contact:
Knight Therapeutics Inc.
Samira Sakhia
Arvind Utchanah
President & Chief Executive Officer
Chief Financial Officer
T: 514.484.4483
T. +598.2626.2344
F: 514.481.4116
Email: IR@knighttx.com
Email: IR@knighttx.com
Website: www.knighttx.com
Website: www.knighttx.com
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Bausch + Lomb Announces Second-Quarter 2025 Results
VAUGHAN, Ontario--(BUSINESS WIRE)--Bausch + Lomb Corporation (NYSE/TSX: BLCO), a leading global eye health company dedicated to helping people see better to live better, today announced its second-quarter 2025 financial results. 'Our continued growth speaks to the breadth and depth of our portfolio and is driven by a mix of hero products and a steady stream of new introductions around the world,' said Brent Saunders, chairman and CEO, Bausch + Lomb. 'Our robust pipeline represents the future of the company, and we're excited to showcase potential gamechangers at our November 13 investor day.' Select Company Highlights Resumed full production of all enVista ® platform IOLs following return to market platform IOLs following return to market Reached approximately $1 billion in trailing 12-month revenue across the dry eye portfolio Drove broad-based growth in Vision Care, led by key contact lens franchises – Daily SiHy, ULTRA ® monthly, and Biotrue ® ONEday – and strong performance from consumer brands, including ARTELAC ® , LUMIFY ® and Blink ® monthly, and Biotrue ONEday – and strong performance from consumer brands, including ARTELAC , LUMIFY and Blink Successfully executed refinancing transaction thereby extending maturity profile Second-Quarter 2025 Revenue Performance Total reported revenue was $1.278 billion for the second quarter of 2025, as compared to $1.216 billion in the second quarter of 2024, an increase of $62 million, or 5%. Excluding the favorable impact of foreign exchange of $21 million, revenue increased by approximately 3% on a constant currency1 basis compared to the second quarter of 2024. Revenue by segment was as follows: Second-Quarter 2025 (in millions) Three Months Ended June 30 Reported Change Reported Change Change at Constant Currency1 (non-GAAP) 2025 2024 Total Bausch + Lomb Revenue $1,278 $1,216 $62 5% 3% Vision Care $753 $697 $56 8% 6% Surgical $216 $209 $7 3% 1% Pharmaceuticals $309 $310 ($1) 0% (1%) Expand Vision Care Segment Vision Care segment revenue was $753 million for the second quarter of 2025, as compared to $697 million for the second quarter of 2024, an increase of $56 million, or 8%. Excluding the favorable impact of foreign exchange of $14 million, segment revenue increased on a constant currency1 basis by approximately 6% compared to the second quarter of 2024, driven by sales from the dry eye portfolio and LUMIFY in the consumer eye care business and SiHy Daily lenses, ULTRA monthly and Biotrue ONEday in the contact lens business. Surgical Segment Surgical segment revenue was $216 million for the second quarter of 2025, as compared to $209 million for the second quarter of 2024, an increase of $7 million, or 3%. Excluding the favorable impact of foreign exchange of $5 million, segment revenue increased on a constant currency1 basis by approximately 1% compared to the second quarter of 2024, primarily driven by growth in consumables, partially offset by the voluntary recall of certain enVista IOL products. Pharmaceuticals Segment Pharmaceuticals segment revenue was $309 million for the second quarter of 2025, as compared to $310 million for the second quarter of 2024, a decrease of $1 million. Excluding the favorable impact of foreign exchange of $2 million, segment revenue decreased on a constant currency1 basis by approximately 1% compared to the second quarter of 2024, driven by a decline in the U.S. Generics business and gross-to-net pricing pressure, primarily attributable to XIIDRA®, partially offset by increased sales of MIEBO and revenue growth in International Pharmaceuticals. Operating Results Operating loss was $11 million for the second quarter of 2025, as compared to operating income of $26 million for the second quarter of 2024, a decrease of $37 million. The change was largely due to higher selling and advertising and promotion costs, primarily attributable to MIEBO, a one-time impact related to the voluntary recall of certain enVista IOL products, product mix and currency impact. Net Loss Net loss attributable to Bausch + Lomb Corporation for the second quarter of 2025 was $62 million, as compared to $151 million for the second quarter of 2024, a favorable change of $89 million. The change was mainly driven by a decrease in income taxes, partially offset by financing fees from the refinancing debt transaction and operating results. Adjusted net income attributable to Bausch + Lomb Corporation (non-GAAP)1 for the second quarter of 2025 was $25 million, as compared to adjusted net income of $45 million for the second quarter of 2024, a decrease of $20 million. Cash Flow from Operations Cash flow from operations for the second quarter of 2025 was $35 million, as compared to $15 million for the second quarter of 2024, an increase of $20 million. Cash flow from operations was positively impacted primarily by improvement in working capital, offset by financing fees related to the refinancing debt transaction. Earnings Per Share GAAP Earnings Per Share ('EPS') Basic and Diluted attributable to Bausch + Lomb Corporation for the second quarter of 2025 was ($0.18), as compared to ($0.43) for the second quarter of 2024. Adjusted EPS attributable to Bausch + Lomb Corporation (non-GAAP)1 for the second quarter of 2025 was $0.07, as compared to $0.13 for the second quarter of 2024. Adjusted EPS attributable to Bausch + Lomb Corporation excluding Acquired IPR&D (non-GAAP)1 for the second quarter of 2025 was $0.07, as compared to $0.14 for the second quarter of 2024. Adjusted EBITDA (non-GAAP)1; Adjusted EBITDA Excluding Acquired IPR&D (non-GAAP)1 Adjusted EBITDA (non-GAAP)1 was $191 million for the second quarter of 2025, as compared to $209 million for the second quarter of 2024, a decrease of $18 million. Adjusted EBITDA excluding Acquired IPR&D (non-GAAP)1 was $192 million for the second quarter of 2025, as compared to $212 million for the second quarter of 2024, a decrease of $20 million. The change was primarily due to the decrease in operating results, as noted above. 2025 Financial Outlook2 Bausch + Lomb provided updated guidance for the full year of 2025 as follows: As of April 30, 2025 As of July 30, 20253 Full-Year Revenue $5.000B – $5.100B ~4.5 – 6.5% constant currency growth1 $5.050B – $5.150B ~5 – 7% constant currency growth1 Full-Year Adjusted EBITDA Excluding Acquired IPR&D (non-GAAP)1 $850M – $900M $860M – $910M Full-Year Revenue Foreign Exchange Tailwinds Nominal $25M Full-Year Adj. EBITDA Excluding Acquired IPR&D (non-GAAP)1 Foreign Exchange Tailwinds Nominal Nominal Expand Other than with respect to GAAP revenue, the company only provides guidance on a non-GAAP basis. The company does not provide a reconciliation of forward-looking Adjusted EBITDA excluding Acquired IPR&D (non-GAAP)1 to GAAP net income (loss) attributable to Bausch + Lomb Corporation or of forward-looking constant currency revenue growth1 to reported revenue growth, due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliations. These amounts may be material and, therefore, could result in the projected GAAP measure or ratio being materially different or less than the projected non-GAAP measure or ratio. These statements represent forward-looking information and may represent a financial outlook, and actual results may vary. Please see the risks and assumptions referred to in the Forward-looking Statements section of this news release. Balance Sheet Highlights Bausch + Lomb's cash, cash equivalents and restricted cash were $272 million at June 30, 2025 Basic weighted average shares outstanding for the second quarter of 2025 were 353.7 million and diluted weighted average shares outstanding for the second quarter of 2025 were 355.5 million4 Conference Call Details Date: Wednesday, July 30, 2025 Time: 8:00 a.m. ET Webcast: Participant Event Dial-in: +1 (888) 506-0062 (North America) +1 (973) 528-0011 (International) Participant Access Code: 155159 Replay Dial-in: +1 (877) 481-4010 (North America) +1 (919) 882-2331 (International) Replay Passcode: 51714 (replay available until August 13, 2025) Expand About Bausch + Lomb Bausch + Lomb is dedicated to protecting and enhancing the gift of sight for millions of people around the world – from birth through every phase of life. Its comprehensive portfolio of approximately 400 products includes contact lenses, lens care products, eye care products, ophthalmic pharmaceuticals, over-the-counter products and ophthalmic surgical devices and instruments. Founded in 1853, Bausch + Lomb has a significant global research and development, manufacturing and commercial footprint with approximately 13,500 employees and a presence in approximately 100 countries. Bausch + Lomb is headquartered in Vaughan, Ontario, with corporate offices in Bridgewater, New Jersey. For more information, visit and connect with us on Facebook, Instagram, LinkedIn, X and YouTube. Forward-looking Statements This news release contains forward-looking information and statements within the meaning of applicable securities laws (collectively, 'forward-looking statements'), which may generally be identified by the use of the words 'anticipates,' 'hopes,' 'expects,' 'intends,' 'plans,' 'projects,' 'predicts,' 'forecasts,' 'should,' 'could,' 'would,' 'may,' 'might,' 'will,' 'strive,' 'believes,' 'estimates,' 'potential,' 'target,' 'guidance,' 'outlook,' or 'continue' and positive and negative variations or similar expressions and phrases or statements that certain actions, events or results may, could, should or will be achieved, received or taken, or will occur or result, and similar such expressions also identify forward-looking information. Forward-looking statements include statements regarding Bausch + Lomb's future prospects and performance, including the company's 2025 full-year guidance and the performance of certain products. These forward-looking statements, including the company's full-year guidance, are based upon the current expectations and beliefs of management and are provided for the purpose of providing additional information about such expectations and beliefs, and readers are cautioned that these statements may not be appropriate for other purposes. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, the risks and uncertainties discussed in Bausch + Lomb's filings with the U.S. Securities and Exchange Commission ('SEC') and the Canadian Securities Administrators (the 'CSA') (including the company's Annual Report on Form 10-K for the year ended Dec. 31, 2024 (which was filed with the SEC and CSA on Feb. 19, 2025) and its most recent quarterly filings), which factors are incorporated herein by reference. They also include, but are not limited to, risks and uncertainties respecting the proposed plan to separate Bausch + Lomb into an independent, publicly traded company, separate from the remainder of Bausch Health Companies Inc. ('BHC') (the 'separation'), which include, but are not limited to, the expected benefits and costs of the separation, the expected timing of completion of the separation and its manner and terms (including that it may include the transfer of all or a portion of BHC's remaining direct or indirect equity interest in Bausch + Lomb to its shareholders (the 'distribution')), the expectation that, if the separation is to be effected through a distribution, then it will be completed following the achievement of targeted debt leverage ratios, subject to receipt of applicable shareholder and other necessary approvals and other factors, including those described in BHC's public statements, the ability to complete the distribution considering the various conditions to the completion of the distribution (some of which are outside the company's and BHC's control, including conditions related to regulatory matters and receipt of applicable shareholder and other approvals), the impact of any potential sales or dispositions of the company's common shares by BHC (including in connection with a foreclosure on the Bausch + Lomb common shares owned by BHC that are or may be pledged as collateral for certain of BHC's debt), that market or other conditions are no longer favorable to completing the transaction, that applicable shareholder, stock exchange, regulatory or other approval is not obtained on the terms or timelines anticipated or at all, business disruption during the pendency of or following the separation, diversion of management time on separation-related issues, retention of existing management team members, the reaction of customers and other parties to the separation, the structure of the distribution, the qualification of the distribution as a tax-free transaction for Canadian and/or U.S. federal income tax purposes (including whether or not an advance ruling from the Canada Revenue Agency and/or the Internal Revenue Service will be sought or obtained), the ability of the company and BHC to satisfy the conditions required to maintain the tax-free status of such distribution (some of which are beyond their control), other potential tax or other liabilities that may arise as a result of the distribution, the potential dis-synergy costs resulting from the separation, the impact of the separation on relationships with customers, suppliers, employees and other business counterparties, general economic conditions, conditions in the markets the company is engaged in, behavior of customers, suppliers and competitors, technological developments and legal and regulatory rules affecting the company's business. In particular, the company can offer no assurance that the separation will occur at all, or that any such transaction will occur on the terms and timelines or in the manner anticipated by the company and BHC. They also include risks and uncertainties relating to acquisitions and other business development transactions the company has completed or may, in the future, pursue and complete, such as the acquisition of XIIDRA® and certain other ophthalmology assets and the acquisition of Elios Vision, Inc., TearLab Corporation, d/b/a Trukera Medical and Whitecap Biosciences, LLC, including risks that the company may not realize the expected benefits of those transactions on a timely basis or at all and, where applicable, risks relating to increased levels of debt as a result of debt incurred to finance such transactions, including in regards to compliance with our debt covenants. They also include risks relating to the voluntary recall of certain of our enVista® IOL products, including our ability to resupply inventory to the market and the success of the enhanced protocols we have put in place (including the enhanced inspection protocols for IOLs and more explicit standards for third party suppliers). They also include the expected impact of the tariffs imposed by the U.S. and counter-tariffs or other retaliatory measures imposed on the U.S. by other countries and disruptions to global supply chains and other potential results as a result of these developments and our ability to successfully manage the expected impact of such tariffs and counter-tariffs and other measures, including the success of our planned actions and levers to manage these matters. Finally, they also include, but are not limited to, risks and uncertainties caused by or relating to adverse economic conditions and other macroeconomic factors, including heightened inflation and interest rates, fluctuations in exchange rates, imposition of and adverse changes to tariff, duties and other trade protection measures, slower growth or a potential recession, which could adversely impact our revenue, expenses and resulting margins. In addition, certain material factors and assumptions have been applied in making these forward-looking statements, including, without limitation, the assumption that the risks and uncertainties outlined above will not cause actual results or events to differ materially from those described in these forward-looking statements. In addition, management has also made certain assumptions regarding our 2025 full-year guidance with respect to expectations regarding base performance growth, business performance, currency impact, impacts of inflation, the company's ability to offset the impact of tariffs in 2025 (based on the current tariff policy and the actions the company is taking to manage these measures), adjusted gross margin (non-GAAP), adjusted SG&A expense (non-GAAP) and the company's ability to continue to manage such expense in the manner anticipated, interest expense (which will vary based on, among other things, interest rates and our indebtedness), adjusted tax rate and full-year capex and the anticipated timing and extent of the company's R&D expense. Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. Bausch + Lomb undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless required by law. Links provided in this news release are solely for information purposes and do not constitute Bausch + Lomb affirming any forward-looking statements contained in the linked content. Non-GAAP Information To supplement the financial measures prepared in accordance with U.S. generally accepted accounting principles (GAAP), the company uses certain non-GAAP financial measures and ratios. Management uses these non-GAAP measures and ratios as key metrics in the evaluation of the company's performance and the consolidated financial results and, in part, in the determination of cash bonuses for its executive officers. The company believes these non-GAAP measures and ratios are useful to investors in their assessment of our operating performance and the valuation of the company. In addition, these non-GAAP measures and ratios address questions the company routinely receives from analysts and investors, and in order to assure that all investors have access to similar data, the company has determined that it is appropriate to make this data available to all investors. These measures and ratios do not have any standardized meaning under GAAP and other companies may use similarly titled non-GAAP financial measures and ratios that are calculated differently from the way we calculate such measures and ratios. Accordingly, our non-GAAP financial measures and ratios may not be comparable to similar non-GAAP measures and ratios of other companies. We caution investors not to place undue reliance on such non-GAAP measures and ratios, but instead to consider them with the most directly comparable GAAP measures and ratios. Non-GAAP financial measures and ratios have limitations as analytical tools and should not be considered in isolation. They should be considered as a supplement to, not a substitute for, or superior to, the corresponding measures calculated in accordance with GAAP. The reconciliations of these historic non-GAAP financial measures and ratios to the most directly comparable financial measures and ratios calculated and presented in accordance with GAAP are shown in the tables below. Specific Non-GAAP Measures EBITDA, Adjusted EBITDA and Adjusted EBITDA excluding Acquired IPR&D EBITDA (non-GAAP) is Net income (loss) attributable to Bausch + Lomb Corporation (its most directly comparable U.S. GAAP financial measure) adjusted for interest, income taxes, depreciation and amortization. Adjusted EBITDA (non-GAAP) is EBITDA (non-GAAP) further adjusted for the items described below. Management believes that Adjusted EBITDA (non-GAAP), along with the GAAP measures used by management, most appropriately reflect how the company measures the business internally and sets operational goals and incentives. In particular, the company believes that Adjusted EBITDA (non-GAAP) focuses management on the company's underlying operational results and business performance. As a result, the company uses Adjusted EBITDA (non-GAAP) both to assess the actual financial performance of the company and to forecast future results as part of its guidance. Management believes Adjusted EBITDA (non-GAAP) is a useful measure to evaluate current performance. Adjusted EBITDA (non-GAAP) is intended to show our unleveraged, pre-tax operating results and therefore reflects our financial performance based on operational factors. In addition, cash bonuses for the company's executive officers and other key employees are based, in part, on the achievement of certain Adjusted EBITDA (non-GAAP) targets. Adjusted EBITDA (non-GAAP) is Net income (loss) attributable to Bausch + Lomb Corporation (its most directly comparable U.S. GAAP financial measure) adjusted for interest expense, net, (benefit from) provision for income taxes, depreciation and amortization and further adjusted for the following items: Asset impairments : The company has excluded the impact of impairments of finite-lived and indefinite-lived intangible assets as such amounts are inconsistent in amount and frequency and are significantly impacted by the timing and/or size of acquisitions and divestitures. The company believes that the adjustments of these items correlate with the sustainability of the company's operating performance. Although the company excludes impairments of intangible assets from measuring the performance of the company and its business, the company believes that it is important for investors to understand that intangible assets contribute to revenue generation. : The company has excluded the impact of impairments of finite-lived and indefinite-lived intangible assets as such amounts are inconsistent in amount and frequency and are significantly impacted by the timing and/or size of acquisitions and divestitures. The company believes that the adjustments of these items correlate with the sustainability of the company's operating performance. Although the company excludes impairments of intangible assets from measuring the performance of the company and its business, the company believes that it is important for investors to understand that intangible assets contribute to revenue generation. Restructuring, integration and transformation costs: The company has incurred restructuring costs as it implemented certain strategies, which involved, among other things, improvements to its infrastructure and operations, internal reorganizations and impacts from the divestiture of assets and businesses. With regard to infrastructure and operational improvements which the company has taken to improve efficiencies in the businesses and facilities, these tend to be costs intended to right size the business or organization that fluctuate significantly between periods in amount, size and timing, depending on the improvement project, reorganization or transaction. Additionally, with the completion of the Bausch + Lomb IPO, as the company prepares for post-separation operations, the company is launching certain transformation initiatives that will result in certain changes to and investment in its organizational structure and operations. These transformation initiatives arise outside of the ordinary course of continuing operations and, as is the case with the company's restructuring efforts, costs associated with these transformation initiatives are expected to fluctuate between periods in amount, size and timing. These out-of-the-ordinary-course charges include third-party advisory costs, as well as certain compensation-related costs. Investors should understand that the outcome of these transformation initiatives may result in future restructuring actions and certain of these charges could recur. The company believes that the adjustments of these items provide supplemental information with regard to the sustainability of the company's operating performance, allow for a comparison of the financial results to historical operations and forward-looking guidance and, as a result, provide useful supplemental information to investors. The company has incurred restructuring costs as it implemented certain strategies, which involved, among other things, improvements to its infrastructure and operations, internal reorganizations and impacts from the divestiture of assets and businesses. With regard to infrastructure and operational improvements which the company has taken to improve efficiencies in the businesses and facilities, these tend to be costs intended to right size the business or organization that fluctuate significantly between periods in amount, size and timing, depending on the improvement project, reorganization or transaction. Additionally, with the completion of the Bausch + Lomb IPO, as the company prepares for post-separation operations, the company is launching certain transformation initiatives that will result in certain changes to and investment in its organizational structure and operations. These transformation initiatives arise outside of the ordinary course of continuing operations and, as is the case with the company's restructuring efforts, costs associated with these transformation initiatives are expected to fluctuate between periods in amount, size and timing. These out-of-the-ordinary-course charges include third-party advisory costs, as well as certain compensation-related costs. Investors should understand that the outcome of these transformation initiatives may result in future restructuring actions and certain of these charges could recur. The company believes that the adjustments of these items provide supplemental information with regard to the sustainability of the company's operating performance, allow for a comparison of the financial results to historical operations and forward-looking guidance and, as a result, provide useful supplemental information to investors. Acquisition-related costs and adjustments excluding amortization of intangible assets : The company has excluded the impact of acquisition-related costs and fair value inventory step-up resulting from acquisitions as the amounts and frequency of such costs and adjustments are not consistent and are significantly impacted by the timing and size of its acquisitions. In addition, the company excludes the impact of acquisition-related contingent consideration non-cash adjustments due to the inherent uncertainty and volatility associated with such amounts based on changes in assumptions with respect to fair value estimates, and the amount and frequency of such adjustments are not consistent and are significantly impacted by the timing and size of the company's acquisitions, as well as the nature of the agreed-upon consideration. : The company has excluded the impact of acquisition-related costs and fair value inventory step-up resulting from acquisitions as the amounts and frequency of such costs and adjustments are not consistent and are significantly impacted by the timing and size of its acquisitions. In addition, the company excludes the impact of acquisition-related contingent consideration non-cash adjustments due to the inherent uncertainty and volatility associated with such amounts based on changes in assumptions with respect to fair value estimates, and the amount and frequency of such adjustments are not consistent and are significantly impacted by the timing and size of the company's acquisitions, as well as the nature of the agreed-upon consideration. Share-based compensation : The company excludes costs relating to share-based compensation. The company believes that the exclusion of share-based compensation expense assists investors in the comparisons of operating results to peer companies. Share-based compensation expense can vary significantly based on the timing, size and nature of awards granted. : The company excludes costs relating to share-based compensation. The company believes that the exclusion of share-based compensation expense assists investors in the comparisons of operating results to peer companies. Share-based compensation expense can vary significantly based on the timing, size and nature of awards granted. Separation costs and separation-related costs : The company has excluded certain costs incurred in connection with activities taken to: (i) separate the Bausch + Lomb business from the remainder of BHC and (ii) register the Bausch + Lomb business as an independent publicly traded entity. Separation costs are incremental costs directly related to effectuating the separation of the Bausch + Lomb business from the remainder of BHC and include, but are not limited to, legal, audit and advisory fees, talent acquisition costs and costs associated with establishing a new Board of Directors and Audit Committee. Separation-related costs are incremental costs indirectly related to the separation of the Bausch + Lomb business from the remainder of BHC and include, but are not limited to, IT infrastructure and software licensing costs, rebranding costs and costs associated with facility relocation and/or modification. As these costs arise from events outside of the ordinary course of continuing operations, the company believes that the adjustments of these items provide supplemental information with regard to the sustainability of the company's operating performance, allow for a comparison of the financial results to historical operations and forward-looking guidance and, as a result, provide useful supplemental information to investors. : The company has excluded certain costs incurred in connection with activities taken to: (i) separate the Bausch + Lomb business from the remainder of BHC and (ii) register the Bausch + Lomb business as an independent publicly traded entity. Separation costs are incremental costs directly related to effectuating the separation of the Bausch + Lomb business from the remainder of BHC and include, but are not limited to, legal, audit and advisory fees, talent acquisition costs and costs associated with establishing a new Board of Directors and Audit Committee. Separation-related costs are incremental costs indirectly related to the separation of the Bausch + Lomb business from the remainder of BHC and include, but are not limited to, IT infrastructure and software licensing costs, rebranding costs and costs associated with facility relocation and/or modification. As these costs arise from events outside of the ordinary course of continuing operations, the company believes that the adjustments of these items provide supplemental information with regard to the sustainability of the company's operating performance, allow for a comparison of the financial results to historical operations and forward-looking guidance and, as a result, provide useful supplemental information to investors. Other Non-GAAP adjustments : The company also excludes certain other amounts, including IT infrastructure investment, litigation and other matters, gain/(loss) on sales of assets and certain other amounts that are the result of other, non-comparable events to measure operating performance if and when present in the periods presented. These events arise outside of the ordinary course of continuing operations. Given the unique nature of the matters relating to these costs, the company believes these items are not routine operating expenses. For example, legal settlements and judgments vary significantly, in their nature, size and frequency, and, due to this volatility, the company believes the costs associated with legal settlements and judgments are not routine operating expenses. The company excluded these costs as this event is outside of the ordinary course of continuing operations and infrequent in nature. The company believes that the exclusion of such out-of-the-ordinary-course amounts provides supplemental information to assist in the comparison of the financial results of the company from period to period and, therefore, provides useful supplemental information to investors. However, investors should understand that many of these costs could recur and that companies in our industry often face litigation. Adjusted EBITDA excluding Acquired In-Process Research and Development (IPR&D) (non-GAAP) is Adjusted EBITDA (non-GAAP) further adjusted to exclude Acquired IPR&D. The IPR&D expenditures represent costs directly resulting from business development transactions and not through the normal course of business. The company believes that the exclusion of such out-of-the-ordinary-course amounts provides supplemental information to assist in the comparison of the financial results of the company from period to period and, therefore, provides useful supplemental information to investors in assessing our performance. However, investors should understand that the company may enter into additional business development transactions in the future and, as a result, such Acquired IPR&D may recur in the future. Adjusted Net Income (non-GAAP) Adjusted net income (non-GAAP) is net income (loss) attributable to Bausch + Lomb Corporation (its most directly comparable GAAP financial measure) adjusted for asset impairments, restructuring, integration and transformation costs, acquisition-related contingent consideration, separation costs and separation-related costs and other non-GAAP adjustments, as these adjustments are described above, and further adjusted for amortization of intangible assets and loss on extinguishment of debt and write-down of financing fees, as described below: Amortization of intangible assets : The company has excluded the impact of amortization of intangible assets, as such amounts are inconsistent in amount and frequency and are significantly impacted by the timing and/or size of acquisitions. The company believes that the adjustments of these items correlate with the sustainability of the company's operating performance. Although the company excludes the amortization of intangible assets from its non-GAAP expenses, the company believes that it is important for investors to understand that such intangible assets contribute to revenue generation. Amortization of intangible assets that relate to past acquisitions will recur in future periods until such intangible assets have been fully amortized. Any future acquisitions may result in the amortization of additional intangible assets. : The company has excluded the impact of amortization of intangible assets, as such amounts are inconsistent in amount and frequency and are significantly impacted by the timing and/or size of acquisitions. The company believes that the adjustments of these items correlate with the sustainability of the company's operating performance. Although the company excludes the amortization of intangible assets from its non-GAAP expenses, the company believes that it is important for investors to understand that such intangible assets contribute to revenue generation. Amortization of intangible assets that relate to past acquisitions will recur in future periods until such intangible assets have been fully amortized. Any future acquisitions may result in the amortization of additional intangible assets. Loss on extinguishment of debt and write-down of financing fees : The company has excluded loss on extinguishment of debt and write-down of financing fees as this represents a loss from refinancing our existing debt and is not a reflection of our operations for the period. Further, the amount and frequency of such amounts are not consistent and are significantly impacted by the timing and size of debt financing transactions and other factors in the debt market that are not in management's control. Bausch + Lomb did not have any material losses on extinguishment of debt and write-downs of financing fees prior to the second quarter of 2025. Adjusted net income (non-GAAP) excludes the impact of these certain items that may obscure trends in the company's underlying performance. Management uses Adjusted net income (non-GAAP) for strategic decision making, forecasting future results and evaluating current performance. By disclosing this non-GAAP measure, it is management's intention to provide investors with a meaningful, supplemental comparison of the company's operating results and trends for the periods presented. Management believes that this measure is also useful to investors as such measure allows investors to evaluate the company's performance using the same tools that management uses to evaluate past performance and prospects for future performance. Accordingly, the company believes that Adjusted net income (non-GAAP) is useful to investors in their assessment of the company's operating performance and the valuation of the company. It is also noted that, in recent periods, our GAAP net income (loss) attributable to Bausch + Lomb Corporation was significantly lower than our Adjusted net income (non-GAAP). Constant Currency Constant currency change or constant currency revenue growth is a change in GAAP revenue (its most directly comparable GAAP financial measure) on a period-over-period basis adjusted for changes in foreign currency exchange rates. The company uses Constant Currency revenue (non-GAAP) and Constant Currency revenue Growth (non-GAAP) to assess performance of its reportable segments, and the company in total, without the impact of foreign currency exchange fluctuations. The company believes that such measures are useful to investors as they provide a supplemental period-to-period comparison. Although changes in foreign currency exchange rates are part of our business, they are not within management's control. Changes in foreign currency exchange rates, however, can mask positive or negative trends in the underlying business performance. Constant currency impact is determined by comparing 2025 reported amounts adjusted to exclude currency impact, calculated using 2024 monthly average exchange rates, to the actual 2024 reported amounts. Adjusted EPS (non-GAAP) and Adjusted EPS excluding Acquired IPR&D (non-GAAP) Adjusted earnings per share or Adjusted EPS (non-GAAP) is calculated as Diluted income per share attributable to Bausch + Lomb Corporation ('GAAP EPS') (its most directly comparable GAAP financial measure), adjusted for the per diluted share impact of each adjustment made to reconcile Net income (loss) attributable to Bausch + Lomb Corporation to Adjusted net income (non-GAAP) as discussed above. Adjusted EPS excluding Acquired IPR&D (non-GAAP) is Adjusted EPS (non-GAAP) further adjusted for the per diluted share impact of Acquired IPR&D. Like Adjusted net income (non-GAAP), Adjusted EPS (non-GAAP) and Adjusted EPS excluding Acquired IPR&D (non-GAAP) excludes the impact of certain items that may obscure trends in the company's underlying performance on a per share basis. By disclosing these non-GAAP measures, it is management's intention to provide investors with a meaningful, supplemental comparison of the company's results and trends for the periods presented on a diluted share basis. Accordingly, the company believes that Adjusted EPS (non-GAAP) and Adjusted EPS excluding Acquired IPR&D (non-GAAP) are useful to investors in their assessment of the company's operating performance, the valuation of the company and an investor's return on investment. It is also noted that, for the periods presented, our GAAP EPS was significantly lower than our Adjusted EPS (non-GAAP) and Adjusted EPS excluding Acquired IPR&D (non-GAAP). © 2025 Bausch + Lomb. _____________________________________ 1 This is a non-GAAP measure or a non-GAAP ratio. For further information on non-GAAP measures and non-GAAP ratios, please refer to the 'Non-GAAP Information' section of this news release. Please also refer to tables at the end of this news release for a reconciliation of this and other non-GAAP measures to the most directly comparable GAAP measure. 2 The guidance in this news release is only effective as of the date given, July 30, 2025, and will not be updated or affirmed unless and until the company publicly announces updated or affirmed guidance. Distribution or reference of this news release following July 30, 2025, does not constitute the company reaffirming guidance. See the 'Forward-looking Statements' section for further information. 3 The increase in the anticipated full-year revenue is a result of strong business performance and an increase in expected currency tailwinds (a result of the weakening of the U.S. dollar relative to other currencies). The increases in anticipated constant currency revenue growth and anticipated Adjusted EBITDA excluding Acquired IPR&D are a result of strong business performance. 4 Diluted weighted average shares includes the dilutive impact of options, performance based restricted stock units and restricted stock units, which are approximately 1,800,000 common shares for the 3 months ended June 30, 2025, and which are excluded when calculating GAAP diluted loss per share because the effect of including the impact would be anti-dilutive. Expand FINANCIAL TABLES FOLLOW Bausch + Lomb Corporation Table 1 Consolidated Statements of Operations For the Three and Six Months Ended June 30, 2025 and 2024 (unaudited) Three Months Ended Six Months Ended June 30, June 30, (in millions, except per share amounts) 2025 2024 2025 2024 Revenues Product sales $ 1,272 $ 1,213 $ 2,405 $ 2,307 Other revenues 6 3 10 8 1,278 1,216 2,415 2,315 Expenses Cost of goods sold (excluding amortization and impairments of intangible assets) 523 482 1,004 905 Cost of other revenues 2 1 3 2 Selling, general and administrative 579 535 1,142 1,039 Research and development 96 84 182 166 Amortization of intangible assets 67 74 134 148 Other expense, net 22 14 44 23 1,289 1,190 2,509 2,283 Operating (loss) income (11 ) 26 (94 ) 32 Interest income 3 3 6 6 Interest expense (128 ) (102 ) (222 ) (201 ) Loss on extinguishment of debt (9 ) — (9 ) — Foreign exchange and other (2 ) (3 ) (8 ) (3 ) Loss before provision for income taxes (147 ) (76 ) (327 ) (166 ) Benefit from (provision for income taxes) 89 (72 ) 58 (145 ) Net loss (58 ) (148 ) (269 ) (311 ) Net income attributable to noncontrolling interest (4 ) (3 ) (5 ) (7 ) Net loss attributable to Bausch + Lomb Corporation $ (62 ) $ (151 ) $ (274 ) $ (318 ) Basic and diluted loss per share attributable to Bausch + Lomb Corporation $ (0.18 ) $ (0.43 ) $ (0.78 ) $ (0.90 ) Basic weighted-average common shares 353.7 351.8 353.3 351.5 Diluted weighted-average common shares 353.7 351.8 353.3 351.5 Expand Bausch + Lomb Corporation Table 2 Reconciliation of GAAP Net Loss and Diluted Loss per Share Attributable to Bausch + Lomb Corporation to Adjusted Net Income (Loss) (non-GAAP) and Adjusted Earnings (Loss) Per Share (non-GAAP) For the Three and Six Months Ended June 30, 2025 and 2024 (unaudited) Three Months Ended June 30, 2025 2024 (in millions, except per share amounts) Income (Expense) Earnings per Share Impact Income (Expense) Earnings per Share Impact Net loss and Diluted loss per share attributable to Bausch + Lomb Corporation $ (62 ) $ (0.18 ) $ (151 ) $ (0.43 ) Non-GAAP adjustments: (a) Amortization of intangible assets 67 0.19 74 0.21 Asset impairments — — 5 0.01 Restructuring, integration and transformation costs 53 0.15 27 0.08 Acquisition-related costs and adjustments (excluding amortization of intangible assets) 5 0.01 21 0.06 Loss on extinguishment of debt and write-down of financing fees 40 0.11 — — Separation costs and separation-related costs — — 1 — Gain on sale of assets — — (1 ) — Other 13 0.04 4 0.01 Tax effect of non-GAAP adjustments (91 ) (0.25 ) 65 0.19 Total non-GAAP adjustments 87 0.25 196 0.56 Adjusted net income (non-GAAP) and Adjusted earnings per share (non-GAAP) $ 25 $ 0.07 $ 45 $ 0.13 Acquired IPR&D 1 — 3 0.01 Adjusted net income excluding Acquired IPR&D (non-GAAP) and Adjusted earnings per share excluding Acquired IPR&D (non-GAAP) $ 26 $ 0.07 $ 48 $ 0.14 Expand Six Months Ended June 30, 2025 2024 (in millions, except per share amounts) Income (Expense) Earnings per Share Impact Income (Expense) Earnings per Share Impact Net loss and Diluted loss per share attributable to Bausch + Lomb Corporation $ (274 ) $ (0.78 ) $ (318 ) $ (0.90 ) Non-GAAP adjustments: (a) Amortization of intangible assets 134 0.38 148 0.42 Asset impairments — — 5 0.01 Restructuring, integration and transformation costs 91 0.26 55 0.15 Acquisition-related costs and adjustments (excluding amortization of intangible assets) 19 0.05 42 0.12 Loss on extinguishment of debt and write-down of financing fees 40 0.11 — — Separation costs and separation-related costs — — 3 0.01 Gain on sale of assets — — (5 ) (0.01 ) Other 15 0.04 6 0.02 Tax effect of non-GAAP adjustments (54 ) (0.14 ) 133 0.38 Total non-GAAP adjustments 245 0.70 387 1.10 Adjusted net (loss) income (non-GAAP) and Adjusted (loss) earnings per share (non-GAAP) $ (29 ) $ (0.08 ) $ 69 $ 0.20 Acquired IPR&D 29 0.08 3 0.01 Adjusted net income excluding Acquired IPR&D (non-GAAP) and Adjusted earnings per share excluding Acquired IPR&D (non-GAAP) $ — $ — $ 72 $ 0.21 Expand (a) The components of and further details respecting each of these non-GAAP adjustments and the financial statement line item to which each component relates can be found on Table 2a. Expand Bausch + Lomb Corporation Table 2a Reconciliation of GAAP to Non-GAAP Financial Information For the Three and Six Months Ended June 30, 2025 and 2024 (unaudited) Three Months Ended Six Months Ended June 30, June 30, (in millions) 2025 2024 2025 2024 Cost of goods sold reconciliation: GAAP Cost of goods sold (excluding amortization and impairments of intangible assets) $ 523 $ 482 $ 1,004 $ 905 Fair value inventory step-up resulting from acquisitions (a) (21 ) (20 ) (43 ) (40 ) Adjusted cost of goods sold (excluding amortization and impairments of intangible assets) (non-GAAP) $ 502 $ 462 $ 961 $ 865 Selling, general and administrative reconciliation: GAAP Selling, general and administrative $ 579 $ 535 $ 1,142 $ 1,039 Separation-related costs (b) — (1 ) (1 ) (2 ) Transformation costs (c) (22 ) (21 ) (58 ) (38 ) Other (d) (6 ) (2 ) (6 ) (3 ) Adjusted selling, general and administrative (non-GAAP) $ 551 $ 511 $ 1,077 $ 996 Research and development reconciliation: GAAP Research and development $ 96 $ 84 $ 182 $ 166 Separation-related costs (b) — — — (1 ) Adjusted research and development (non-GAAP) $ 96 $ 84 $ 182 $ 165 Amortization of intangible assets reconciliation: GAAP Amortization of intangible assets $ 67 $ 74 $ 134 $ 148 Amortization of intangible assets (e) (67 ) (74 ) (134 ) (148 ) Adjusted amortization of intangible assets (non-GAAP) $ — $ — $ — $ — Other expense, net reconciliation: GAAP Other expense, net $ 22 $ 14 $ 44 $ 23 Litigation and other matters (d) (6 ) — (7 ) (1 ) Restructuring and integration costs (c) (31 ) (6 ) (33 ) (17 ) Asset impairments (f) — (5 ) — (5 ) Separation costs (b) — — 1 — Acquisition-related contingent consideration (a) 18 — 27 (1 ) Acquisition-related costs (a) (2 ) (1 ) (3 ) (1 ) Gain on sale of assets (g) — 1 — 5 Adjusted other expense, net (non-GAAP) $ 1 $ 3 $ 29 $ 3 Interest expense reconciliation: GAAP Interest expense $ (128 ) $ (102 ) $ (222 ) $ (201 ) Write-down of financing fees (h) 31 — 31 — Adjusted interest expense (non-GAAP) $ (97 ) $ (102 ) $ (191 ) $ (201 ) Loss on extinguishment of debt reconciliation: GAAP Loss on extinguishment of debt $ (9 ) $ — $ (9 ) $ — Loss on extinguishment of debt (h) 9 — 9 — Adjusted loss on extinguishment of debt (non-GAAP) $ — $ — $ — $ — Foreign exchange and other reconciliation: GAAP Foreign exchange and other $ (2 ) $ (3 ) $ (8 ) $ (3 ) Other (d) 1 2 2 2 Adjusted foreign exchange and other (non-GAAP) $ (1 ) $ (1 ) $ (6 ) $ (1 ) Benefit from (provision for) income taxes reconciliation: GAAP Benefit from (provision for) income taxes $ 89 $ (72 ) $ 58 $ (145 ) Tax effect of non-GAAP adjustments (i) (91 ) 65 (54 ) 133 Adjusted (provision for) benefit from income taxes (non-GAAP) $ (2 ) $ (7 ) $ 4 $ (12 ) Expand (a) Represents the three components of the non-GAAP adjustment of 'Acquisition-related costs and adjustments (excluding amortization of intangible assets)' (see Table 2). (b) Represents the three components of the non-GAAP adjustment of 'Separation costs and separation-related costs' (see Table 2). (c) Represents the two components of the non-GAAP adjustment of 'Restructuring, integration and transformation costs' (see Table 2). (d) Represents the three components of the non-GAAP adjustment of 'Other' (see Table 2). (e) Represents the sole component of the non-GAAP adjustment of 'Amortization of intangible assets' (see Table 2). (f) Represents the sole component of the non-GAAP adjustment of 'Asset impairments' (see Table 2). (g) Represents the sole component of the non-GAAP adjustment of 'Gain on sale of assets' (see Table 2). (h) Represents the two components of the non-GAAP adjustment of 'Loss on extinguishment of debt and write-down of financing fees' (see Table 2). (i) Represents the sole component of the non-GAAP adjustment of 'Tax effect of non-GAAP adjustments' (see Table 2). Expand Bausch + Lomb Corporation Table 2b Reconciliation of GAAP Net Loss to Adjusted EBITDA (non-GAAP) For the Three and Six Months Ended June 30, 2025 and 2024 (unaudited) Three Months Ended Six Months Ended June 30, June 30, (in millions) 2025 2024 2025 2024 Net loss attributable to Bausch + Lomb Corporation $ (62 ) $ (151 ) $ (274 ) $ (318 ) Interest expense, net 125 99 216 195 (Benefit from) provision for income taxes (89 ) 72 (58 ) 145 Depreciation and amortization of intangible assets 107 110 213 220 EBITDA 81 130 97 242 Adjustments: Asset impairments — 5 — 5 Restructuring, integration and transformation costs 53 27 91 55 Acquisition-related costs and adjustments (excluding amortization of intangible assets) 5 21 19 42 Share-based compensation 30 22 58 41 Separation costs and separation-related costs — 1 — 3 Loss on extinguishment of debt 9 — 9 — Other non-GAAP adjustments: Gain on sale of assets — (1 ) — (5 ) Other 13 4 15 6 Adjusted EBITDA (non-GAAP) $ 191 $ 209 $ 289 $ 389 Acquired IPR&D 1 3 29 3 Adjusted EBITDA excluding Acquired IPR&D (non-GAAP) $ 192 $ 212 $ 318 $ 392 Expand Bausch + Lomb Corporation Table 3 Constant Currency Revenue (non-GAAP) and Constant Currency Revenue Growth (non-GAAP) - by Segment For the Three and Six Months Ended June 30, 2025 and 2024 (unaudited) Calculation of Constant Currency Revenue for the Three Months Ended June 30, 2025 June 30, 2024 Change in Revenue as Reported Change in Constant Currency Revenue (Non-GAAP) (b) Revenue as Reported Changes in Exchange Rates (a) Constant Currency Revenue (Non-GAAP) (b) Revenue as Reported (in millions) Amount Pct. Amount Pct. Vision Care $ 753 $ (14 ) $ 739 $ 697 $ 56 8 % $ 42 6 % Surgical 216 (5 ) 211 209 7 3 % 2 1 % Pharmaceuticals 309 (2 ) 307 310 (1 ) — % (3 ) (1 )% Total revenues $ 1,278 $ (21 ) $ 1,257 $ 1,216 $ 62 5 % $ 41 3 % Calculation of Constant Currency Revenue for the Six Months Ended June 30, 2025 June 30, 2024 Change in Revenue as Reported Change in Constant Currency Revenue (Non-GAAP) (b) Revenue as Reported Changes in Exchange Rates (a) Constant Currency Revenue (Non-GAAP) (b) Revenue as Reported (in millions) Amount Pct. Amount Pct. Vision Care $ 1,409 $ (1 ) $ 1,408 $ 1,332 $ 77 6 % $ 76 6 % Surgical 430 (1 ) 429 406 24 6 % 23 6 % Pharmaceuticals 576 — 576 577 (1 ) — % (1 ) — % Total revenues $ 2,415 $ (2 ) $ 2,413 $ 2,315 $ 100 4 % $ 98 4 % Expand (a) The impact for changes in foreign currency exchange rates is determined as the difference in the current period reported revenues at their current period currency exchange rates and the current period reported revenues revalued using the monthly average currency exchange rates during the comparable prior period. (b) To supplement the financial measures prepared in accordance with GAAP, the Company uses certain non-GAAP financial measures and ratios. For additional information about the Company's use of such non-GAAP financial measures and ratios, refer to the 'Non-GAAP Information' section in the body of the news release to which these tables are attached. Constant currency revenue (non-GAAP) for the three and six months ended June 30, 2025 is calculated as revenue as reported adjusted for the impact for changes in exchange rates (previously defined in this news release). Change in constant currency revenue (non-GAAP) is calculated as the difference between constant currency revenue for the current period and revenue as reported for the comparative period. Expand
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TORONTO, July 30, 2025--(BUSINESS WIRE)--VerticalScope Holdings Inc. ("VerticalScope" or the "Company") (TSX: FORA; OTCQX: VFORF) announced today that the Company's second quarter 2025 financial results will be released after the market close on Tuesday, August 12, 2025. Management will host a conference call and webcast to discuss the Company's financial results at 7:00 a.m. ET on Wednesday, August 13, 2025. Live Call Registration and Webcast: Joining Live by Telephone:Canada: +1 833 950 0062United States: +1 833 470 1428Access Code: 628663 If you are unable to join live, an archived recording of the webcast will be available at: About VerticalScope Holdings Inc. Founded in 1999 and headquartered in Toronto, Ontario, VerticalScope is a technology company that has built and operates a cloud-based digital platform for online enthusiast communities in high-consumer spending categories. VerticalScope's mission is to enable people with common interests to connect, explore their passions and share knowledge about the things they love. Through targeted acquisitions and development, VerticalScope has built a portfolio of over 1,200 online communities and approximately 100 million monthly active users. Forward-Looking Statements This news release contains forward-looking information within the meaning of applicable securities legislation that reflects the Company's current expectations regarding future events. When used in this news release, words such as "should", "could", "intended", "expect", "plan" or "believe" and similar expressions indicate forward-looking statements. Forward-looking information, including statements regarding the anticipated timing for reporting of the Company's financial results, is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company's control. Although the Company believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurances can be given that actual results will be consistent with these forward-looking statements. Such risks and uncertainties include, but are not limited to, the factors discussed under "Risk Factors'' in the Company's Annual Information Form dated March 31, 2025, which is available on the Company's profile on SEDAR Plus at Actual results could differ materially from those projected herein. VerticalScope does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required under applicable securities laws. Related Linkshttp:// View source version on Contacts For further informationInvestor and media inquiries: VerticalScope — Vincenzo BellissimoChief Financial OfficerTel: 416-341-7166, IR@ FNK IR — Matt Chesler, CFATel: 646-809-2183, fora@
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TORONTO, July 30, 2025 (GLOBE NEWSWIRE) — Talisker Resources Ltd. ('Talisker' or the 'Company') (TSX: TSK, OTCQX: TSKFF) announces that its wholly owned subsidiary, Bralorne Gold Mines Ltd. ('Bralorne'), has entered into three definitive agreements with Ocean Partners USA, Inc. ('Ocean Partners'), an internationally respected metals trader, for the purchase of gravity gold and sulphide concentrate from the Mustang Mine, marking a further milestone in the Company's transition to production at its Bralorne Gold Project in British Columbia. The three agreements include two separate purchase agreements, one for gravity gold concentrate and one for sulphide concentrate, and a logistics agreement appointing Ocean Partners as Bralorne's exclusive logistics agent to manage the end-to-end transportation of both gravity and sulphide concentrates from the mill site to international buyers. Under the gravity gold and sulphide concentrate purchase agreements, Ocean Partners has agreed to purchase 100% of the gravity gold and sulphide concentrates produced pursuant to Bralorne's existing milling agreement. The purchase agreements include commercially competitive terms, flexible pricing tied to LBMA reference prices, structured advance and provisional payment provisions, as well as provisions ensuring quality and handling standards. Terry Harbort, CEO of Talisker stated, 'These agreements represent a critical commercial milestone for Talisker, establishing a clear, efficient path to market for gold and sulphide concentrate sales. The flexible pricing and payments will allow Talisker to optimize working capital increasing balance sheet strength.' For further information, please contact: Terry Harbort President and CEO +1 416 357 0227 About Talisker Resources Ltd. Talisker ( is a junior resource company involved in the exploration and development of gold projects in British Columbia, Canada. Talisker's flagship asset is the high-grade, fully permitted Bralorne Gold Project where the Company is currently transitioning into underground production at the Mustang Mine. Talisker projects also include the Ladner Gold Project, an advanced stage project with significant exploration potential from an historical high-grade producing gold mine and the Spences Bridge Project where the Company holds ~85% of the emerging Spences Bridge Gold Belt, and several other early-stage Greenfields projects. About Ocean Partners USA, Inc. Ocean Partners USA, Inc. is a leading international trader of base and precious metal concentrates. With offices across North America, Europe, and Asia, Ocean Partners provides logistics, marketing, and financing services to metal producers worldwide. Caution Regarding Forward Looking Statements Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words 'could', 'intend', 'expect', 'believe', 'will', 'projected', 'estimated' and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Talisker's current belief or assumptions as to the outcome and timing of such future events. In particular, this press release contains forward-looking information relating to, among other things, the sale of gravity gold and sulphide concentrates and the Company's operational activities at the Bralorne Gold Project. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to Talisker. Although such statements are based on reasonable assumptions of Talisker's management, there can be no assurance that any conclusions or forecasts will prove to be accurate. In particular, the Company advises that it does not have defined mineral reserves and it has not based its production decision on a feasibility study of mineral reserves, demonstrating economic and technical viability, and, as a result, there may be an increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, including increased risks associated with developing a commercially mineable deposit. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks inherent in the exploration, development and operation of mineral deposits, including risks relating to changes in project parameters as plans continue to be redefined, risks relating to variations in grade or recovery rates, risks relating to changes in mineral prices and the worldwide demand for and supply of minerals, risks related to increased competition and current global financial conditions, access and supply risks, reliance on key personnel, operational risks regulatory risks, including risks relating to the acquisition of the necessary licenses and permits, financing, capitalization and liquidity risks, title and environmental risks and risks relating to the failure to receive all requisite shareholder and regulatory approvals. Furthermore, historically, projects that are in production without defined mineral reserves have a much higher risk of economic and technical failure. There is no guarantee that production will begin as anticipated or at all or that anticipated production costs will be achieved. The forward-looking information contained in this release is made as of the date hereof, and Talisker is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
