What changed in this filing

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Item 1. Financial Statements

2026-08-10 compared with 2026-05-08 · 106 added, 84 removed, 442 unchanged (30% of the section changed)

5 unchanged sentences

Three Months Ended

March 31, Six Months Ended

June 30, Nine Months Ended

2026 2025 2026 2025

3 unchanged sentences

Selling, general and administrative expenses 3,100 2,635 8,731 7,826

Loss (gain) on disposal of operating assets 15 — ( 5 ) —

Operating profit (loss) 2,661 ( 781 ) 5,224 ( 2,693 )

Loss on disposal of operating assets 36 — 31 —

Operating profit 286 3,260 5,510 567

Interest expense, net 289 391 945 1,289

Foreign currency exchange (gain) loss, net ( 1 ) 1 ( 1 ) ( 1 )

Other expense, net 13 37 29 75

Foreign currency exchange loss (gain), net — 5 ( 1 ) 4

Other expense (income), net 15 ( 479 ) 44 ( 404 )

Income (loss) from continuing operations before income tax expense ( 18 ) 3,343 4,522 ( 322 )

Income tax (benefit) expense ( 306 ) 75 99 80

Income tax expense 22 41 121 120

Income (loss) from continuing operations ( 40 ) 3,302 4,401 ( 442 )

(Loss) income from discontinued operations, net of tax — ( 70 ) — 36

Income from discontinued operations, net of tax — 106 — 142

Net income (loss) $ ( 40 ) $ 3,408 $ 4,401 $ ( 300 )

1 unchanged sentence

Basic earnings (loss) per share from continuing operations $ ( 0.01 ) $ 0.54 $ 0.72 $ ( 0.07 )

Basic earnings (loss) per share from discontinued operations — ( 0.01 ) — 0.01

Basic earnings per share from discontinued operations — 0.02 — 0.02

Basic earnings (loss) per share $ ( 0.01 ) $ 0.56 $ 0.72 $ ( 0.05 )

1 unchanged sentence

Diluted earnings (loss) per share from continuing operations $ ( 0.01 ) $ 0.54 $ 0.71 $ ( 0.07 )

Diluted earnings (loss) per share from discontinued operations — ( 0.01 ) — 0.01

Diluted earnings per share from discontinued operations — 0.02 — 0.02

Diluted earnings (loss) per share $ ( 0.01 ) $ 0.56 $ 0.71 $ ( 0.05 )

4 unchanged sentences

and Subsidiaries

Consolidated Condensed Statements of Comprehensive Income

Consolidated Condensed Statements of Comprehensive Income (Loss)

(Amounts in thousands)

Three Months Ended

March 31, Six Months Ended

June 30, Nine Months Ended

2026 2025 2026 2025

42 unchanged sentences

Serial preferred shares, no par value, authorized 1,000 shares;

zero shares issued and outstanding at March 31, 2026 and September 30, 2025

zero shares issued and outstanding at June 30, 2026 and September 30, 2025

Common shares, par value $ 1 per share, authorized 10,000 shares;

issued and outstanding shares 6,254 at March 31, 2026 and 6,180 at September 30, 2025

issued and outstanding shares 6,254 at June 30, 2026 and 6,180 at September 30, 2025

Additional paid-in capital 12,015 11,892

8 unchanged sentences

(Unaudited, Amounts in thousands)

Six Months Ended

Nine Months Ended

Cash flows from operating activities:

51 unchanged sentences

(Unaudited, Amounts in thousands)

Six Months Ended

Nine Months Ended

Cash paid during the year:

5 unchanged sentences

Debt issuance costs — incurred but not yet paid

Interest added to promissory note — related party (paid-in-kind)

See notes to unaudited consolidated condensed financial statements.

4 unchanged sentences

Three Months Ended

March 31, 2026

June 30, 2026

Common Shares Additional

4 unchanged sentences

Shares Amount

Balance at January 1, 2026 6,215 $ 6,215 $ 11,863 $ 18,942 $ 1,678 $ 38,698

Comprehensive income — — — 2,651 16 2,667

Balance at April 1, 2026 6,254 $ 6,254 $ 11,901 $ 21,593 $ 1,694 $ 41,442

Comprehensive (loss) income — — — ( 40 ) 16 ( 24 )

Performance and restricted share expense — — 114 — — 114

Share transactions under equity-based plans 39 39 ( 39 ) — — —

Balance at March 31, 2026 6,254 $ 6,254 $ 11,901 $ 21,593 $ 1,694 $ 41,442

Balance at June 30, 2026 6,254 $ 6,254 $ 12,015 $ 21,553 $ 1,710 $ 41,532

Three Months Ended

March 31, 2025

June 30, 2025

Common Shares Additional

4 unchanged sentences

Shares Amount

Balance at January 1, 2025 6,147 $ 6,147 $ 11,778 $ 15,565 $ 186 $ 33,676

Comprehensive (loss) income — — — ( 1,392 ) 22 ( 1,370 )

Balance at April 1, 2025 6,190 $ 6,190 $ 11,796 $ 14,173 $ 208 $ 32,367

Comprehensive income — — — 3,408 23 3,431

Performance and restricted share expense — — 47 — — 47

Share transactions under equity-based plans ( 10 ) ( 10 ) 10 — — —

Balance at March 31, 2025 6,190 $ 6,190 $ 11,796 $ 14,173 $ 208 $ 32,367

Six Months Ended

March 31, 2026

Balance at June 30, 2025 6,180 $ 6,180 $ 11,853 $ 17,581 $ 231 $ 35,845

Nine Months Ended

June 30, 2026

Common Shares Additional

8 unchanged sentences

Share transactions under equity-based plans 74 74 ( 134 ) — — ( 60 )

Balance at March 31, 2026 6,254 $ 6,254 $ 11,901 $ 21,593 $ 1,694 $ 41,442

Six Months Ended

March 31, 2025

Balance at June 30, 2026 6,254 $ 6,254 $ 12,015 $ 21,553 $ 1,710 $ 41,532

Nine Months Ended

June 30, 2025

Common Shares Additional

9 unchanged sentences

Share transactions under equity-based plans 22 22 ( 56 ) — — ( 34 )

Balance at March 31, 2025 6,190 $ 6,190 $ 11,796 $ 14,173 $ 208 $ 32,367

Balance at June 30, 2025 6,180 $ 6,180 $ 11,853 $ 17,581 $ 231 $ 35,845

See notes to unaudited consolidated condensed financial statements.

23 unchanged sentences

Three Months Ended

March 31, Six Months Ended

June 30, Nine Months Ended

2026 2025 2026 2025

14 unchanged sentences

Discontinued operations — 0.02 — 0.02

Net loss per share – diluted:

$ 0.43 $ ( 0.23 ) $ 0.72 $ ( 0.61 )

Net earnings (loss) per share $ ( 0.01 ) $ 0.56 $ 0.71 $ ( 0.05 )

Anti-dilutive weighted-average common shares excluded from calculation of diluted earnings per share 82 69 6 148

32 unchanged sentences

This guidance will expand our annual income tax disclosures, but will not affect our consolidated condensed financial statements.

Employee Retention Credit

Under the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), the Employee Retention Credit (“ERC”) is a refundable payroll tax credit available to eligible businesses and tax-exempt organizations impacted by the COVID-19 pandemic.

Businesses qualified if they experienced a full or partial government-ordered suspension of operations or a "significant" decline in gross receipts.

The Company, having reasonably assured eligibility, submitted and received approval for ERC refunds.

In the absence of specific U.S.

GAAP guidance on accounting for such credits, the Company adopted International Accounting Standards (“IAS”) 20 – Accounting for Government Grants and Disclosure of Government Assistance.

Under IAS 20, the credit can be presented as other income or as a reduction of related expense.

The Company elected to reduce the expense categories in which the original payroll taxes were incurred.

No ERC related income or expense was recognized during the three and nine months ended June 30, 2026.

During the three and nine months ended June 30, 2025, the Company recognized a total gross benefit of $ 3,373 , consisting of $ 2,859 ERC refund and $ 514 in interest income.

The credit was allocated as follows:

• $ 2,406 to cost of goods sold (“COGS”),

• $ 453 to selling, general and administrative expense (“SG&A”), and

• $ 514 to other (income) expense, net.

The Company also recognized $ 675 of professional fees related to the ERC within SGA expenses during both the three months and nine months ended June 30, 2025.

Discontinued Operations

12 unchanged sentences

Three Months Ended

March 31, Six Months Ended

June 30, Nine Months Ended

2026 2025 2026 2025

2 unchanged sentences

Interest expense, net — — — 15

Income from discontinued operations before income tax expense and gain on sale — — — 214

Income from discontinued operations before income tax (benefit) expense and loss on sale — — — 214

Loss on sale of discontinued operations before income tax expense — — — ( 11 )

Income tax expense from discontinued operations — — — 167

(Loss) income from discontinued operations, net of tax $ — $ ( 70 ) $ — $ 36

Income tax (benefit) expense from discontinued operations — ( 106 ) — 61

Income from discontinued operations, net of tax $ — $ 106 $ — $ 142

Inventories consist of:

5 unchanged sentences

For a portion of the Company’s inventory, cost is determined using the last-in, first-out (“LIFO”) method.

Approximately 62 % and 40 % of the Company’s inventories as of March 31, 2026 and September 30, 2025, respectively, use the LIFO method.

Approximately 74 % and 40 % of the Company’s inventories as of June 30, 2026 and September 30, 2025, respectively, use the LIFO method.

An actual valuation of inventory under the LIFO method is made at the end of each fiscal year based on the inventory levels and costs existing at that time.

2 unchanged sentences

The first-in, first-out (“FIFO”) method is used for the remainder of the inventories, which are stated at the lower of cost or net realizable value (“NRV”).

If the FIFO method had been used for the inventories for which cost is determined using the LIFO method, inventories would have been $ 12,078 and $ 10,897 higher than reported as of March 31, 2026 and September 30, 2025, respectively.

If the FIFO method had been used for the inventories for which cost is determined using the LIFO method, inventories would have been $ 14,897 and $ 10,897 higher than reported as of June 30, 2026 and September 30, 2025, respectively.

Net realizable value is the estimated selling price in the ordinary course of business less reasonably predictable costs of completion, disposal, and transportation.

The Company estimates net realizable value, excess and obsolescence and shrink reserves for its inventory based upon historical experience, historical and projected sales trends and the age of inventory on hand.

As of March 31, 2026 and September 30, 2025, the inventory valuation allowances were $ 5,386 and $ 5,919 , respectively.

As of June 30, 2026 and September 30, 2025, the inventory valuation allowances were $ 4,549 and $ 5,919 , respectively.

Accumulated Other Comprehensive Income

3 unchanged sentences

Total accumulated other comprehensive income $ 1,710 $ 1,661

During the six months ended March 31, 2025, the Company reclassified $ 5,554 from foreign currency translation adjustment to income from discontinued operations in the consolidated condensed statements of operations concurrent with the disposition of the CBlade and the substantially complete liquidation of operations in Europe.

During the nine months ended June 30, 2025, the Company reclassified $ 5,554 from foreign currency translation adjustment to income from discontinued operations in the consolidated condensed statements of operations concurrent with the disposition of CBlade and the substantially complete liquidation of operations in Europe.

Debt consists of:

19 unchanged sentences

however, availability under the Letter of Credit Sub-facility will be dependent upon the maintenance of such compensating balances.

As of March 31, 2026 and September 30, 2025, the Company maintained compensating balances of $ 1,081 and $1,553, respectively, which were included in restricted cash in the consolidated condensed balance sheets.

As of the reporting date, the Company had no outstanding letters of credit issued under this Loan Agreement.

The Company had outstanding letters of credit issued by another financial institution, which are fully secured by cash compensating balances.

As of June 30, 2026 and September 30, 2025, the Company maintained compensating balances of $ 1,081 and $ 1,553 , respectively, which were included in restricted cash in the consolidated condensed balance sheets.

In consideration of the execution and delivery by Siena of the Loan Agreement, the Company agreed pursuant to the fee letter to pay a closing fee in the amount of $ 230 (of which $ 115 was paid on the closing date and $ 115 was paid on the first anniversary of the closing date, with the remaining amount (if any) of the closing fee to be paid in full on the maturity date).

2 unchanged sentences

In addition, an unused line fee accrues with respect to the unused amount of the Revolver at an annual rate of 0.5 %.

All fees that are payable in future installments or in full at maturity were recognized within accrued liabilities in the consolidated condensed balance sheets as of March 31, 2026.

All fees that are payable in future installments or in full at maturity were recognized within accrued liabilities in the consolidated condensed balance sheets as of June 30, 2026.

Borrowings under the Credit Facility are secured by (a) a continuing first priority lien on and security interest in and to substantially all of the assets of the Company and other loan parties identified therein;

1 unchanged sentence

The obligations of the Borrowers are guaranteed by each guarantor on the terms set forth in the Loan Agreement.

The Loan Agreement includes a springing financial covenant requiring the Company to maintain a minimum fixed charge coverage ratio ("FCCR") of 1.0 to 1.0, in accordance with the Loan Agreement, once the availability block has been released.

The Loan Agreement contains a $ 2,000 availability block that reduces the borrowing base until the later of the (i) the first anniversary date of the closing date and (ii) date on which the Company achieves a FCCR of at least 1.05 to 1.00, measure on a trailing twelve-month basis, at which point the availability block will be eliminated.

The Loan Agreement includes a financial covenant requiring the Company to maintain a minimum fixed charge coverage ratio ("FCCR") of 1.0 to 1.0, in accordance with the Loan Agreement, once the availability block has been released.

The Loan Agreement contains a $ 2,000 availability block that reduces the borrowing base until the later of the (i) the first anniversary date of the closing date and (ii) date on which the Company achieves a FCCR of at least 1.05 to 1.00, measured on a trailing twelve-month basis, at which point the availability block is eliminated.

The Loan Agreement also contains affirmative, negative and financial covenants customary for financings of this type, including, among other things, limitations on certain other indebtedness, loans and investment, liens, mergers, asset sales, and transactions with affiliates, as well as customary events of default for financings of this type.

Additionally, the Loan Agreement contains provisions for a lockbox arrangement and a subjective acceleration clause related to the appraised value of collateralized property, plant, and equipment;

hence, the Term Loan and the Revolver were each classified as current maturities of long-term debt in the consolidated condensed balance sheet as of March 31, 2026.

As of March 31, 2026, the Company was in compliance with its FCCR covenant.

As of March 31, 2026, total availability under the Revolver wa s $ 17,236 , and no letters of credit were outstanding.

As of March 31, 2026 and September 30, 2025, the Company had effective interest rates of 15.7 % and 9.8 %, respectively, under its revolving credit agreements.

hence, the Term Loan and the Revolver were each classified as current maturities of long-term debt in the consolidated condensed balance sheet as of June 30, 2026.

As of June 30, 2026, the Company was in compliance with its FCCR covenant.

As of June 30, 2026, total availability under the Revolver was $ 15,156 , and no letters of credit were outstanding.

As of June 30, 2026 and September 30, 2025, the Company had effective interest rates of 13.9 % and 9.8 %, respectively, under its revolving credit agreements.

The effective interest rate for the current period presented was impacted by a provision in the Loan Agreement requiring interest to be calculated on a specified minimum borrowing level, regardless of actual outstanding borrowings.

1 unchanged sentence

Debt issuance costs

As of March 31, 2026 and September 30, 2025, the Company had debt issuance costs related to its outstanding revolving credit agreement of $ 556 , which is included in the consolidated condensed balance sheets as a deferred charge in other current assets, net of amortization of $ 263 and $ 170 , respectively.

As of March 31, 2026 and September 30, 2025, the Company had debt issuance costs related to the Term Loan of $ 83 , which are included net of debt in the consolidated condensed balance sheets, net of amortization of $ 48 and $ 33 , respectively.

As of June 30, 2026 and September 30, 2025, the Company had debt issuance costs related to its outstanding revolving credit agreement of $ 556 , which is included in the consolidated condensed balance sheets as a deferred charge in other current assets, net of amortization of $ 309 and $ 170 , respectively.

As of June 30, 2026 and September 30, 2025, the Company had debt issuance costs related to the Term Loan of $ 83 , which are included net of debt in the consolidated condensed balance sheets, net of amortization of $ 55 and $ 33 , respectively.

In April 2019, the Company entered into an economic development loan in the amount of $ 864 with FirstEnergy Corporation (“FirstEnergy”) through its Ohio Electric Security Plan (“ESP”) in effect at that time (the “ED Loan”).

2 unchanged sentences

Prime Rate plus 1.0 %.

As of March 31, 2026 and September 30, 2025, the Company had outstanding balances under the ED Loan of $ 160 and $ 147 , respectively.

As of June 30, 2026 and September 30, 2025, the Company had outstanding balances under the ED Loan of $ 163 and $ 147 , respectively.

Beginning on October 1, 2019, FirstEnergy invoiced the Company on a quarterly basis and payments were made accordingly.

2 unchanged sentences

This estimated effective rate is used in providing for income taxes on a year-to-date basis.

The Company’s effective tax rate through the first six months of fiscal 2026 was 2.2 %, compared with ( 2.2 )% for the same period of fiscal 2025.

The Company’s effective tax rate through the first nine months of fiscal 2026 was 2.7 %, compared with ( 37.2 )% for the same period of fiscal 2025.

The increase in the effective rate was primarily attributable to changes in jurisdictional mix of income in fiscal 2026 compared with the same period of fiscal 2025 along with the Company's transition from a pre-tax loss to a pre-tax income position.

4 unchanged sentences

The Company analyzes the need for a valuation allowance on a quarterly basis and has determined that a full valuation allowance on the U.S.

net deferred tax assets as of the second quarter of fiscal 2026 is appropriate.

net deferred tax assets as of the third quarter of fiscal 2026 is appropriate.

It is reasonably possible that sufficient positive evidence required to release all, or a portion of the U.S valuation allowance will exist within the next 12 months.

5 unchanged sentences

Three Months Ended

March 31, Six Months Ended

June 30, Nine Months Ended

2026 2025 2026 2025

4 unchanged sentences

Net periodic pension cost $ 15 $ 38 $ 46 $ 113

During the six months ended March 31, 2026 and 2025, the Company made $ 241 and $ 95 in cash contributions to its defined benefit pension plans.

During the nine months ended June 30, 2026 and 2025, the Company made $ 310 and $ 175 in cash contributions to its defined benefit pension plans.

The Company anticipates making $ 80 in cash contributions to fund its defined benefit pension plans for the balance of fiscal 2026.

2 unchanged sentences

The Company has outstanding equity awards under the Company’s 2007 Long-Term Incentive Plan (the “2007 Plan”) and the Company’s 2007 Long-Term Incentive Plan (Amended and Restated as of November 16, 2016) (as further amended, the “2016 Plan”), and awards performance and restricted shares under the 2016 Plan.

In the first six months of fiscal 2026, the Company granted 47 ti me-based restricted shares under the 2016 Plan to non-employee directors with a grant date fair value of $ 6.50 per share.

In the first nine months of fiscal 2026, the Company granted 47 ti me-based restricted shares under the 2016 Plan to non-employee directors with a grant date fair value of $ 6.50 per share.

The awards vest over one year .

In the first six months of fiscal 2026, the Company granted two separate awards under the 2016 Plan to certain key employees, 50 time-based restricted shares with a grant date fair value of $ 6.73 per share and 10 time-based restricted shares with a grant date fair value of $ 5.76 per share.

In the first nine months of fiscal 2026, the Company granted two separate awards under the 2016 Plan to certain key employees, 50 time-based restricted shares with a grant date fair value of $ 6.73 per share and 10 time-based restricted shares with a grant date fair value of $ 5.76 per share.

The awards vest over three years .

There were 35 shares forfeited during the six months ended March 31, 2026.

No performance-based shares were granted during the six months ended March 31, 2026.

If all outstanding share awards are ultimately earned and vest at the target number of shares, there are approximately 303 shares that remain available for award as of March 31, 2026.

If any of the outstanding share awards are ultimately earned and vest at greater than the target number of shares, up to a maximum of 150 % of such target, then a fewer number of shares would be available for award.

Stock-based compensation expense under the 2016 Plan was $ 143 and $ 88 during the first six months of fiscal 2026 and 2025, respectively, and $ 77 and $ 67 during the three months ended March 31, 2026 and 2025, respectively, within selling, general and administrative expense on the consolidated condensed statements of operations.

As of March 31, 2026, there was $ 571 of total unrecognized compensation cost related to the performance shares and restricted shares awarded under the 2016 Plan.

There were 35 shares forfeited during the nine months ended June 30, 2026.

No performance-based shares were granted during the nine months ended June 30, 2026.

If all outstanding share awards are ultimately earned and vest at the target number of shares, there are approximately 303 shares that remain available for award as of June 30, 2026.

Stock-based compensation expense under the 2016 Plan was $ 257 and $ 135 during the first nine months of fiscal 2026 and 2025, respectively, and $ 114 and $ 47 during the three months ended June 30, 2026 and 2025, respectively, within selling, general and administrative expense on the consolidated condensed statements of operations.

As of June 30, 2026, there was $ 457 of total unrecognized compensation cost related to the performance shares and restricted shares awarded under the 2016 Plan.

The Company expects to recognize this cost over the next 1.4 years.

17 unchanged sentences

Three Months Ended

March 31, 2026 Six Months Ended

March 31, 2026

June 30, 2026 Nine Months Ended

June 30, 2026

2026 2025 2026 2025

4 unchanged sentences

Three Months Ended

March 31, 2026 Six Months Ended

June 30, 2026 Nine Months Ended

2026 2025 2026 2025

7 unchanged sentences

All revenue based on selling locations originated from the Company’s U.S.

In addition to the disaggregated revenue information provided above, approximately 69 % and 57 % of total net sales for the six months ended March 31, 2026 and 2025, respectively, was recognized on an over-time basis because of the continuous transfer of control to the customer, with the remainder recognized at a point in time.

In addition to the disaggregated revenue information provided above, approximately 67 % and 61 % of total net sales for the nine months ended June 30, 2026 and 2025, respectively, was recognized on an over-time basis because of the continuous transfer of control to the customer, with the remainder recognized at a point in time.

Contract Balances

The following table contains a roll forward of contract assets and contract liabilities for the six months ended March 31, 2026 and 2025:

2026 March 31,

The following table contains a roll forward of contract assets and contract liabilities for the nine months ended June 30, 2026 and 2025:

2026 June 30,

Contract assets — beginning balance

4 unchanged sentences

$ 11,844 $ 12,681

2026 March 31,

2026 June 30,

Contract liabilities — beginning balance

3 unchanged sentences

Contract liabilities — ending balance $ 3,630 $ 2,061

During the three and six months ended March 31, 2026, the Company recognized revenues of approximately $ 49 and $ 656 , respectively, that were included in contract liabilities at the beginning of fiscal year 2026.

During the three and six months ended March 31, 2025, the Company recognized revenues of approximately $ 730 and $ 1,665 , respectively, that was included in contract liabilities at the beginning of fiscal year 2025.

Accounts receivable were $ 17,272 and $ 14,544 as of September 30, 2024 and March 31, 2025, respectively.

There were certain contracts that met the criteria for loss recognition, a loss contract reserve of $ 313 and $ 325 was recorded as of March 31, 2026 and September 30, 2025, respectively.

During the three and nine months ended June 30, 2026, the Company recognized revenues of approximately $ 94 and $ 751 , respectively, that were included in contract liabilities at the beginning of fiscal year 2026.

During the three and nine months ended June 30, 2025, the Company recognized revenues of approximately $ 2,050 and $ 3,716 , respectively, that was included in contract liabilities at the beginning of fiscal year 2025.

Accounts receivable were $ 17,272 and $ 14,223 as of September 30, 2024 and June 30, 2025, respectively.

There were certain contracts that met the criteria for loss recognition, a loss contract reserve of $ 555 and $ 325 was recorded as of June 30, 2026 and September 30, 2025, respectively.

Remaining performance obligations

As of March 31, 2026, the Company has $ 157,719 of remaining performance obligations, of which $ 95,322 are anticipated to be complete within the next 12 months, and the remaining thereafter.

As of June 30, 2026, the Company has $ 164,160 of remaining performance obligations, of which $ 99,184 are anticipated to be complete within the next 12 months, and the remaining thereafter.

Commitments and Contingencies

5 unchanged sentences

The Company may be subject to late shipping charges under certain customer arrangements if delivery timelines are not met.

As of March 31, 2026, the Company has not accrued any amounts related to such potential charges, as the likelihood of incurring material penalties is not considered probable.

As of June 30, 2026, the Company has not accrued any amounts related to such potential charges, as the likelihood of incurring material penalties is not considered probable.

The Company will continue to monitor this matter and will record an accrual if and when it becomes probable that a liability has been incurred and the amount can be reasonably estimated.

7 unchanged sentences

The Company has not yet been officially served with this suit and is engaged in efforts described below to resolve this matter.

The suit makes claims that generally repeats the claims from the December 23, 2025 notice described above and requests injunctive relief, storm water compliance actions, and plaintiffs’ costs.

The Company is currently reviewing the aforementioned notices and resulting lawsuit, validating the violations alleged therein, and, to the extent applicable, determining the extent of remediation efforts that may be required in connection therewith, and has engaged an environmental consultant to assist with analyzing fees, penalties and legal costs that could potentially be assessed.

The suit makes claims that

generally repeats the claims from the December 23, 2025 notice described above and requests injunctive relief, storm water compliance actions, and plaintiffs’ costs.

The Company is evaluating the notices and the related lawsuit, validating the violations alleged therein, and, to the extent applicable, determining the extent of remediation efforts that may be required in connection therewith.

The Company has engaged an environmental consultant to assist with potential remediation requirements, as well as estimating potential fines, penalties and legal costs.

While the Company records reserves for legal disputes and regulatory matters in accordance to U.S.

GAAP, the ultimate resolution of such matters are inherently uncertain, and actual results may differ significantly from current estimates.

Based on the foregoing, the Company recorded an estimate for these contingent liabilities of $ 291 , which is included within accrued liabilities as of March 31, 2026.

The Company recorded expense of $ 236 and $ 391 related to these matters during the three months and six months ended March 31, 2026.

During the quarter ended June 30, 2026, the Company settled one of the notices for $ 65 .

Based on the information currently available the Company has recorded an accrual of $ 175 for its estimated remaining contingent liabilities, which is included within accrued liabilities as of June 30, 2026.

The Company recognized expense of $ 20 and $ 412 related to these matters during the three months and nine months ended June 30, 2026.

Segment Information

3 unchanged sentences

As such, the CODM reviews the income (loss) from continuing operations as a measure of segment profit or loss, as well as segment expense included in the below table, to evaluate operating performance, generate future operating plans and make strategic decisions.

The CODM also uses these measures in monitoring plan versus actual

The CODM also uses these measures in monitoring plan versus actual results.

The CODM does not review segment assets at a different asset level or category than those disclosed in the consolidated balance sheets.

Three Months Ended March 31, Six Months Ended March 31,

Three Months Ended June 30, Nine Months Ended June 30,

2026 2025 2026 2025

5 unchanged sentences

¹ Other items include gain on disposal of operating assets, interest expense, foreign currency exchange (gain) loss, other expense, net, and income tax (benefit) expense.

Subsequent Events

The Company has evaluated subsequent events through August 10, 2026, the date the financial statements were available to be issued, and has determined that the following subsequent events require disclosure in the financial statements.

Subsequent to June 30, 2026, the Company repaid in full the outstanding $ 1,950 term loan under its Loan Agreement.

The repayment, which occurred in July 2026, resulted in the extinguishment of the Company's term loan obligation.

In connection with the repayment, the Company incurred a $ 39 prepayment penalty and wrote off approximately $ 28 of unamortized deferred financing costs associated with the term loan.

These amounts will be recorded as a loss on extinguishment of debt in the other expense (income), net line on the consolidated condensed statements of operations for the fourth quarter of fiscal 2026.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements