Market Newsdesk

July 21, 2026 5:08 pm

TLX591-Tx ProstACT SELECT Study Published in Cancers Journal

Peer-reviewed publication of ProstACT SELECT¹ results confirm the utility of ⁶⁸Ga (gallium)-PSMA-PET imaging to select patients for TLX591-Tx therapy using a theranostic approach².
Consistent with previously reported results³, the publication highlights TLX591-Tx’s clinical differentiation and safety profile.
TLX591-Tx, Telix’s lead PSMA-targeting rADC therapy candidate, is currently being evaluated in ProstACT Global Phase 3 study⁴ for advanced metastatic prostate cancer.

MELBOURNE, Australia and INDIANAPOLIS , July 22, 2026 (GLOBE NEWSWIRE) — Telix Pharmaceuticals Limited (ASX: TLX, NASDAQ: TLX, “Telix”) today announced publication of results from the ProstACT SELECT study in Cancers, a peer-reviewed journal. The Phase 1 study evaluated TLX591-Tx (lutetium-177 (¹⁷⁷Lu) rosopatamab tetraxetan), Telix’s first-in-class prostate-specific membrane antigen (PSMA) targeting radio antibody-drug conjugate (rADC) therapy candidate. The study’s scientific purpose was to evaluate lesion concordance between ⁶⁸Ga-PSMA-PET⁵ and multi-time point SPECT⁶ imaging for patient selection using a “theranostic” approach.

The publication highlights TLX591-Tx’s differentiated clinical profile, including an intensified dosing schedule, prolonged tumor retention and low exocrine (salivary) gland irradiation. The authors also concluded that in a heterogeneous population representative of a real-world setting, TLX591-Tx therapy in combination with standard of care (SOC) demonstrated a manageable and predictable safety profile, and indicative efficacy with a median radiographic progression-free survival (rPFS) of 8.8 months reported in evaluable patients.

Nat Lenzo, MD, Nuclear Medicine Oncologist and Principal Investigator on the ProstACT SELECT study commented, “A key objective of ProstACT SELECT was to determine whether PSMA-PET imaging could reliably identify patients suitable for TLX591-Tx therapy, and the results clearly support this approach. The results provide compelling evidence that the PSMA-PET imaging agent and TLX591-Tx are targeting the same disease sites, supporting the ongoing ProstACT Global trial for mCRPC⁷, where there remains significant unmet need for additional treatment options.”

David N. Cade, MD, Group Chief Medical Officer, Telix, said, “The publication of ProstACT SELECT data further strengthens the scientific foundation for Telix’s lead therapeutic candidate, TLX591-Tx. The peer-reviewed results support our patient-selection strategy and demonstrate a differentiated pharmacologic profile characterized by durable tumor targeting, hepatobiliary clearance, and a manageable safety profile. Telix is further evaluating TLX591-Tx in the international multi-center Phase 3 ProstACT Global study, where we aim to meaningfully improve outcomes for patients living with advanced prostate cancer.”

The full paper is available at: https://www.mdpi.com/3989748

About ProstACT SELECT

The purpose of the ProstACT SELECT trial was to evaluate the utility of ⁶⁸Ga-PSMA-PET imaging (Illuccix) to select patients for TLX591-Tx rADC therapy. The primary objectives were to determine whole body biodistribution and organ radiation dosimetry and assess the safety and tolerability of TLX591-Tx in patients with advanced mCRPC. rPFS was a secondary study objective.

About
Telix Pharmaceuticals Limited

Telix Pharmaceuticals (ASX: TLX, NASDAQ: TLX) is a commercial-stage global radiopharmaceutical company, advancing targeted theranostics to improve outcomes for people with cancer across the patient journey. Theranostics pairs a precision diagnostic with a targeted therapy to both diagnose and treat disease.

Telix’s commercial franchise is anchored by its prostate cancer imaging portfolio: Illuccix® (kit for the preparation of gallium-68 gozetotide injection), commercially available in 22 countries including the U.S. and Gozellix® (kit for the preparation of gallium-68 gozetotide injection), approved by the U.S. Food and Drug Administration (FDA). The Company’s late-stage therapeutic pipeline includes three assets in pivotal-stage trials: TLX591-Tx (lutetium-177 (¹⁷⁷Lu) rosopatamab tetraxetan) in prostate cancer, TLX101-Tx (¹³¹I-iodofalan) in recurrent glioblastoma, and TLX250-Tx (lutetium (¹⁷⁷Lu) girentuximab tetraxetan) in kidney cancer, additionally complemented by a deep pipeline of next generation assets. TLX591-Tx has not received a marketing authorization in any jurisdiction.

Telix is headquartered in Melbourne, Australia, with operations across North America, Europe, Latin America and Asia-Pacific. For more information, visit www.telixpharma.com or follow Telix on LinkedIn, X and Facebook.

Telix Contacts

Investor Relations	Media
Annie Kasparian	Eliza Schleifstein
[email protected]	[email protected]

Charlene Jaw
[email protected]

Legal Notices

Cautionary Statement Regarding Forward-Looking Statements.

You should read this announcement together with our risk factors, as disclosed in our most recently filed reports with the Australian Securities Exchange (ASX), U.S. Securities and Exchange Commission (SEC), including our Annual Report on Form 20-F filed with the SEC, or on our website.

The information contained in this announcement is not intended to be an offer for subscription, invitation or recommendation with respect to securities of Telix Pharmaceuticals Limited (Telix) in any jurisdiction, including the United States. The information and opinions contained in this announcement are subject to change without notification.  To the maximum extent permitted by law, Telix disclaims any obligation or undertaking to update or revise any information or opinions contained in this announcement, including any forward-looking statements (as referred to below), whether as a result of new information, future developments, a change in expectations or assumptions, or otherwise. No representation or warranty, express or implied, is made in relation to the accuracy or completeness of the information contained or opinions expressed in the course of this announcement.

This announcement may contain forward-looking statements, including within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, that relate to anticipated future events, financial performance, plans, strategies or business developments. Forward-looking statements can generally be identified by the use of words such as “may”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “believe”, “outlook”, “forecast” and “guidance”, or the negative of these words or other similar terms or expressions. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Forward-looking statements are based on Telix’s good-faith assumptions as to the financial, market, regulatory and other risks and considerations that exist and affect Telix’s business and operations in the future and there can be no assurance that any of the assumptions will prove to be correct. In the context of Telix’s business, forward-looking statements may include, but are not limited to, statements about: the initiation, timing, progress, completion and results of Telix’s preclinical and clinical trials, and Telix’s research and development programs; Telix’s ability to advance product candidates into, enroll and successfully complete, clinical studies, including multi-national clinical trials; the timing or likelihood of regulatory filings and approvals for Telix’s product candidates, manufacturing activities and product marketing activities; Telix’s sales, marketing and distribution and manufacturing capabilities and strategies; the commercialization of Telix’s product candidates, if or when they have been approved; Telix’s ability to obtain an adequate supply of raw materials at reasonable costs for its products and product candidates; estimates of Telix’s expenses, future revenues and capital requirements; Telix’s financial performance; developments relating to Telix’s competitors and industry; the anticipated impact of U.S. and foreign tariffs and other macroeconomic conditions on Telix’s business, including as a result of war or other geopolitical conflicts; and the pricing and reimbursement of Telix’s product candidates, if and after they have been approved. Telix’s actual results, performance or achievements may be materially different from those which may be expressed or implied by such statements, and the differences may be adverse. Accordingly, you should not place undue reliance on these forward-looking statements.

Trademarks and Trade Names. All trademarks and trade names referenced in this press release are the property of Telix Pharmaceuticals Limited (Telix) or, where applicable, the property of their respective owners. For convenience, trademarks and trade names may appear without the ® or ™ symbols. Such omissions are not intended to indicate any waiver of rights by Telix or the respective owners. Trademark registration status may vary from country to country. Telix does not intend the use or display of any third-party trademarks or trade names to imply any affiliation with, endorsement by, or sponsorship from those third parties.

___________________________

¹ ClinicalTrials.gov ID: NCT04786847.
² Lenzo et al. Cancers. 2026.
³ Telix ASX disclosures October 19, 2023 and May 31, 2024.
⁴ ClinicalTrials.gov ID: NCT06520345.
⁵ Imaging of prostate-specific membrane antigen with positron emission tomography.
⁶ Single-photon emission computed tomography.
⁷ Metastatic castration-resistant prostate cancer.

July 21, 2026 5:07 pm

Nayax to Report 2026 Q2 Earnings on August 10, 2026

HERZLIYA, Israel, July 21, 2026 (GLOBE NEWSWIRE) — Nayax Ltd. (Nasdaq: NYAX; TASE: NYAX), a global commerce enablement and payments platform designed to help merchants scale their business by simplifying payments and maximizing loyalty, today announced that it will release its earnings for the second quarter of 2026 on Monday, August 10, 2026, before U.S. markets open.

Nayax will hold two calls, one in English and one in Hebrew. Nayax CEO and Chairman, Yair Nechmad, will speak alongside Chief Financial Officer, Sagit Manor, and Chief Strategy Officer, Aaron Greenberg.

Conference Calls:

The conference call in English will be held at:
8:30 a.m. Eastern Time / 3:30 p.m. Israel Time / 5:30 a.m. Pacific Time.

The conference call in Hebrew will be held at:
9:30 a.m. Eastern Time / 4:30 p.m. Israel time / 6:30 a.m. Pacific Time.

For the conference call in English, we encourage participants to pre-register using the link below. Those who pre-register will be given a unique PIN to gain immediate access to the call, bypassing the live operator. Participants may pre-register any time, including up to and after the call/webcast start time. You will immediately receive an online confirmation, an email with the dial-in number and a calendar invitation for the event.

To pre-register, go to:

https://services.incommconferencing.com/DiamondPassRegistration/register?confirmationNumber=13761534&linkSecurityString=1f29c3bc04

For those who are unable to pre-register, kindly join the conference call/webcast by using one of the dial-in numbers or clicking the webcast link below.

U.S. TOLL-FREE: 1-877-737-7051
ISRAEL TOLL-FREE: 1-809-455-690
INTERNATIONAL: 1-201-689-8878

WEBCAST LINK:

https://viavid.webcasts.com/starthere.jsp?ei=1769007&tp_key=f785b41e93

Participants may also register and join the conference call/webcast by visiting the Events section of the Nayax website.

Following the conference call, a replay will be available until August 24, 2026. To access the replay, please dial one of the following numbers:

Replay TOLL-FREE: 1-844-512-2921
Replay TOLL/INTERNATIONAL: 1-412-317-6671
Access PIN: 13761534

An archive of the conference call will also be available on Nayax’s Investor Relations website Nayax – Investor Relations.

To access the conference call/webcast in Hebrew, use the link below:

https://teams.microsoft.com/meet/340771838493476?p=nnMmI5L7APYpfdoF11

About Nayax

Nayax is a global commerce enablement, payments and loyalty platform designed to help merchants scale their business. Nayax offers a complete solution including localized cashless payment acceptance, management suite, and loyalty tools, enabling merchants to conduct commerce anywhere, at any time. With foundations and global leadership in serving unattended retail, Nayax has transformed into a comprehensive solution focused on our customers’ growth across multiple channels. As of March 31, 2026, Nayax has 13 global offices, approximately 1,200 employees, connections to more than 80 merchant acquirers and payment method integrations, and is globally recognized as a payment facilitator. Nayax’s mission is to improve our customers’ revenue potential and operational efficiency — effectively and simply. For more information, please visit www.nayax.com.

Forward-Looking Statements

This press release contains statements that constitute forward-looking statements. Many of the forward-looking statements contained in this press release can be identified by the use of forward-looking words such as “anticipate,” “believe,” “could,” “expect,” “should,” “plan,” “intend,” “estimate” and “potential,” among others. Forward-looking statements include, but are not limited to, statements regarding our intent, belief or current expectations, such as statements in this press release regarding our financial outlook, future business prospects and the impact of recent acquisitions or partnerships published by the Company. Forward-looking statements are based on our management’s beliefs and assumptions and on information currently available to our management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors, including, but not limited to: our expectations regarding general market conditions, including as a result of the COVID-19 pandemic and other global economic trends; changes in consumer tastes and preferences; fluctuations in inflation, interest rate and exchange rates in the global economic environment; the availability of qualified personnel and the ability to retain such personnel; changes in commodity costs, labor, distribution and other operating costs; our ability to implement our growth strategy; changes in government regulation and tax matters; other factors that may affect our financial condition, liquidity and results of operations; general economic, political, demographic and business conditions in Israel, including the war in Israel that began on October 7, 2023 and global perspectives regarding that conflict; the success of operating initiatives, including advertising and promotional efforts and new product and concept development by us and our competitors; and other risk factors discussed under “Risk Factors” in our annual report on Form 20-F filed with the SEC on March 9, 2026 (our “Annual Report”). The preceding list is not intended to be an exhaustive list of all of our forward-looking statements. The forward-looking statements are based on our beliefs, assumptions and expectations of future performance, taking into account the information currently available to us. These statements are only estimates based upon our current expectations and projections about future events. There are important factors that could cause our actual results, levels of activity, performance or achievements to differ materially from the results, levels of activity, performance or achievements expressed or implied by the forward-looking statements. In particular, you should consider the risks provided under “Risk Factors” in our Annual Report. You should not rely upon forward-looking statements as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Each forward-looking statement speaks only as of the date of the particular statement. Except as required by law, we undertake no obligation to update publicly any forward-looking statements for any reason, to conform these statements to actual results or to changes in our expectations.

Public Relations Contact:

Scott Gamm
Strategy Voice Associates
[email protected]

Investor Relations Contact:

Aaron Greenberg
Chief Strategy Officer
[email protected]

July 21, 2026 5:06 pm

Albany International Schedules Second-Quarter 2026 Earnings Release and Conference Call

Albany International Schedules Second-Quarter 2026 Earnings Release and Conference Call

PORTSMOUTH, N.H.–(BUSINESS WIRE)–
Albany International Corp. (NYSE: AIN) announced today that it will release second-quarter 2026 results on August 4, 2026, before market open.

The Company will host a webcast to discuss the results at 9:00 a.m. Eastern Time on Tuesday, August 4, 2026. Interested parties are encouraged to listen to the live webcast via the Company’s Investor Relations website at investors.albint.com or by registering via the link here.

The event can also be accessed by dialing +1 (833) 461-5787 and using the Meeting ID: 487 159 842.

An archive of the webcast will be available on the website at approximately noon Eastern Time on Tuesday, August 4, 2026.

About Albany International Corp.

Albany is a leading materials science developer and manufacturer of engineered components, using advanced materials processing and automation capabilities, with two core businesses:

Machine Clothing is the world’s leading producer of custom-designed consumable belts, essential for the manufacture of paper, paperboard, tissue, and towel, as well as pulp, non-wovens, and a variety of other industrial applications.
Albany Engineered Composites is a growing designer and manufacturer of advanced materials-based engineered components for demanding aerospace applications, supporting both commercial and military platforms.

Albany International is headquartered in Portsmouth, New Hampshire, operates 25 facilities in 12 countries, employs approximately 5,700 people worldwide, and is listed on the New York Stock Exchange (Symbol AIN). Additional information about the Company and its products and services can be found at www.albint.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260721745403/en/

Investor / Media Contact:

Karen Blomquist

Director, Investor Relations

Tel +603.330.2461

EMAIL[email protected]

Media Contact

Sheri Tripp

Senior Manager, Corporate Communications and Marketing

Tel +1 603.330.8317

EMAIL[email protected]

KEYWORDS: New Hampshire United States North America

INDUSTRY KEYWORDS: Air Transport Aerospace Manufacturing Other Manufacturing Machinery

MEDIA:

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July 21, 2026 5:05 pm

Stride Announces Date for Fourth Quarter Fiscal Year 2026 Earnings Call

RESTON, Va., July 21, 2026 (GLOBE NEWSWIRE) — Stride Inc. (NYSE: LRN) announced today it plans to discuss its fourth quarter and full fiscal year 2026 financial results during a conference call scheduled for Tuesday, August 4, 2026 at 5:00 p.m. eastern time (ET).

A live webcast of the call will be available at investors.stridelearning.com/events-and-presentations. To participate in the live call, investors and analysts should dial (833) 461-5787 (domestic) or +1 (585) 542-9983 (international) and provide the conference ID number 708 877 615. Please access the website at least 15 minutes prior to the start of the call.

A replay of the call will be posted at investors.stridelearning.com/events-and-presentations as soon as it is available.

About Stride Inc.

Stride Inc. (NYSE: LRN) is redefining lifelong learning with innovative, high-quality education solutions. Serving learners in primary, secondary, and postsecondary settings, Stride provides a wide range of services including K-12 education, career learning, professional skills training, and talent development. Stride reaches learners in all 50 states and over 100 countries. Learn more at stridelearning.com.

Investor Contact
Investor Relations
Stride, Inc.
[email protected]

July 21, 2026 5:04 pm

Northpointe Bancshares, Inc. Reports Second Quarter 2026 Results

Northpointe Bancshares, Inc. Reports Second Quarter 2026 Results

GRAND RAPIDS, Mich.–(BUSINESS WIRE)–
Northpointe Bancshares, Inc. (NYSE: NPB) (“Northpointe” or the “Company”), the holding company for Northpointe Bank, today reported net income to common stockholders of $21.3 million, or $0.60 per diluted share, for the second quarter of 2026. This compares to $21.7 million, or $0.62 per diluted share, for the first quarter of 2026, and $18.0 million, or $0.51 per diluted share, for the second quarter of 2025.

“We continued to deliver consistent profitability and strong financial performance for the first half of 2026,” remarked Chuck Williams, Chairman and Chief Executive Officer. “Our performance reflects the continued success in our Mortgage Purchase Program business, with 36% growth in portfolio balances and 42% growth in total loans funded over the prior year. Our year-to-date results demonstrate the strength and resilience of our franchise, and our ability to generate consistent long-term value for shareholders.”

Second Quarter 2026 Highlights

Delivered consistent profitability and financial performance, including:
- Return on average equity of 14.36%, compared to 15.32% in the prior quarter.
- Return on average tangible common equity of 14.69%, compared to 15.71% in the prior quarter (see non-GAAP reconciliation).
- Return on average assets of 1.18%, compared to 1.28% in the prior quarter.
- Efficiency ratio of 54.76%, compared to 54.30% in the prior quarter.
Continued growth in the balance sheet, including:
- Mortgage Purchase Program (“MPP”) balances increased by $77.3 million, or 8% annualized, from the prior quarter. This is net of $489.0 million in balances participated to other institutions at period end, which compares to $412.7 million in the prior quarter.
- First-lien home equity lines which are tied seamlessly to a demand deposit sweep account (the Company commonly refers to these loans as “All-in-One” or “AIO” loans) balances increased by $36.7 million, or 19% annualized.
- Total deposits increased by $231.9 million, or 19% annualized, primarily driven by higher brokered CDs.
Asset quality remained stable:
- Non-performing assets decreased by $4.0 million from the prior quarter.
- Net charge-offs remained historically low at $528,000, or 0.03% of average loans (annualized).
Wholesale funding ratio stable at 63.09% compared to 62.94% in the prior quarter.
The Company’s Board of Directors declared a regular quarterly cash dividend of $0.025 per share, payable on August 4, 2026, to stockholders of record as of July 15, 2026.

Net Interest Income

Net interest income before provision was $42.4 million for the second quarter of 2026, an increase of $1.1 million compared to the first quarter of 2026. The linked quarter increase reflects a $389.5 million increase in average interest-earning assets partially offset by a 9 basis point decrease in net interest margin. As compared to the second quarter of 2025, net interest income before provision increased by $5.9 million, which was driven primarily by a $1.30 billion increase in average interest-earning assets partially offset by an 11 basis point decrease in net interest margin.

Net interest margin was 2.33% for the second quarter of 2026, a decrease of 9 basis points compared to 2.42% in the first quarter of 2026 and a decrease of 11 basis points compared to 2.44% in the second quarter of 2025. The linked quarter decrease was driven primarily by lower average yields on MPP balances reflecting tighter margins and a decrease in the Secured Overnight Financing Rate (“SOFR”) over the same period. Average rates paid on interest-bearing liabilities was flat compared to the linked quarter period. The decrease compared to the prior year quarter was driven primarily by lower average yields on interest-earning assets, which outpaced the decrease in average rates paid on interest-bearing liabilities.

Average interest-earning assets at June 30, 2026 increased by $389.5 million from March 31, 2026 and by $1.30 billion compared to June 30, 2025. The increases from both comparable periods reflect the strong growth in MPP and AIO balances, which are the portfolios the Company is focused on strategically growing, partially offset by continued run-off in the remainder of the loan portfolio.

Provision (Benefit) for Credit Losses

The Company recorded total provision for credit losses expense (including both loans and unfunded commitments) of $210,000 in the second quarter of 2026, compared to a provision (benefit) of $445,000 in the first quarter of 2026 and provision expense of $583,000 in the second quarter of 2025. The Company’s quarterly provision (benefit) for credit losses reflects net loan charge-offs, along with factors such as loan growth, portfolio mix, reserves on individually evaluated loans, credit migration trends, and changes in the economic forecasts used in the credit models.

The Company’s allowance for credit losses was $9.4 million at June 30, 2026, $9.7 million at March 31, 2026 and $12.4 million at June 30, 2025. The allowance for credit losses represented 0.15% of loans held for investment at June 30, 2026, 0.15% of loans held for investment at March 31, 2026 and 0.23% of loans held for investment at June 30, 2025. The majority of the growth in the loans held for investment portfolio has come from MPP or AIO balances, with continued run-off in residential mortgage, construction, and other consumer / home equity loans, which carry higher average loss rates. In total, at June 30, 2026, residential mortgage, construction, and other consumer / home equity loans have decreased by $45.0 million from March 31, 2026 and by $216.9 million from June 30, 2025.

The total provision for credit losses expense in the second quarter of 2026 reflected net charge-offs of $528,000, and a decrease of $264,000 in allowance for credit losses, which was primarily attributable to lower levels of non-performing loans and continued change in loan mix, partially offset by slightly higher loss rates from the economic forecasts used in the credit models. The total provision (benefit) in the prior quarter reflected net charge-offs of $266,000, and a decrease of $735,000 in allowance for credit losses, which was primarily attributable to lower delinquent loans and continued run-off in the construction loan portfolio. The total provision expense for credit losses in the prior year quarter reflected net charge-offs of $488,000, and an increase of $60,000 in allowance for credit losses.

Non-interest Income

Non-interest income was $21.9 million for the second quarter of 2026, a decrease of $0.3 million compared to the first quarter of 2026 and a decrease of $0.5 million compared to the second quarter of 2025.

MPP fees, which are driven by total loans funded and participation balances, were $2.3 million for the second quarter of 2026, an increase of $0.3 million compared to the first quarter of 2026 and an increase of $1.0 million compared to the second quarter of 2025. The increases from both comparable periods reflect higher levels of funded loans, along with higher levels of participations, in the MPP business.

Loan servicing fees were $2.3 million for the second quarter of 2026, a decrease of $1.3 million compared to the first quarter of 2026 and an increase of $0.7 million compared to the second quarter of 2025. The changes from both comparable periods reflect changes in the fair value of mortgage servicing rights (“MSRs”) primarily attributable to the movement in market interest rates during the respective periods.

Net gain on sale of loans was $17.0 million for the second quarter of 2026, compared to $16.5 million for the first quarter of 2026 and $19.4 million for the second quarter of 2025. Net gain on sale of loans includes the capitalization of new MSRs, changes in fair value of loans, and gains on the sale of loans.

The net gain on sale of loans for the second quarter of 2026 included an increase of $657,000 from the combined change in fair value of loans held for investment and lender risk account (“LRA”), which are both attributable to changes in market interest rates. Excluding these items (see Net Gain on Sale of Loans table below for a reconciliation), net gain on sale of loans was $16.4 million, a decrease of $1.4 million on a comparative basis from the first quarter of 2026 and a decrease of $1.2 million on a comparative basis from the second quarter of 2025. The decreases from both comparable periods reflect lower levels of residential mortgage interest rate lock commitments.

Non-interest Expense

Non-interest expense was $35.2 million for the second quarter of 2026, an increase of $0.8 million compared to the first quarter of 2026 and an increase of $3.5 million compared to the second quarter of 2025.

Salaries and benefits expense increased by $0.7 million on a linked quarter basis and increased by $2.8 million compared to the second quarter of 2025. The linked quarter increase was driven primarily by higher variable compensation on mortgage production reflecting a higher mix of traditional retail volume during the quarter. The increase compared to the prior year quarter was driven primarily by higher salaries and other compensation and bonus and incentive compensation.

Data processing expenses increased by $0.2 million on a linked quarter basis and increased by $0.4 million compared to second quarter of 2025. The increases from both comparable periods were driven primarily by the timing of certain software expenses.

Other taxes and insurance decreased by $0.3 million on a linked quarter basis, but increased by $0.8 million compared to the second quarter of 2025. The changes for both comparable periods were driven primarily by FDIC assessment expense, which fluctuates with changes in assets, wholesale funding mix and utilization of capital.

Taxes

Income tax expense for the second quarter of 2026 was $7.1 million, compared to $7.3 million for the first quarter of 2026 and $6.3 million for the second quarter of 2025. The Company’s effective tax rate was 24.72% for both the second and first quarters of 2026, and was 23.67% for the second quarter of 2025.

Balance Sheet Highlights

Total assets were $7.53 billion at June 30, 2026, representing an increase of $134.1 million compared to March 31, 2026 and an increase of $1.10 billion compared to June 30, 2025. The increases for both comparable periods were driven primarily by growth in loans.

Gross loans held for investment were $6.48 billion at June 30, 2026, an increase of $69.0 million, or 4% annualized, compared to March 31, 2026 and an increase of $983.4 million, or 18%, compared to June 30, 2025. The increases for both comparable periods were driven primarily by growth in MPP balances and AIO loans, which were partially offset by decreases in the remainder of the loans held for investment portfolio. The Company continues to focus on growing these two main portfolios. Outside of these two portfolios, no other significant loans are being added to the loans held for investment portfolio. At June 30, 2026, virtually all of the loan portfolio was comprised of loans collateralized by residential property.

Loans held for sale totaled $312.0 million at June 30, 2026, compared to $297.2 million at March 31, 2026 and $331.2 million at June 30, 2025, and reflect the timing of closing saleable residential mortgage originations.

Total deposits were $5.23 billion at June 30, 2026, an increase of $231.9 million, or 19% annualized, compared to March 31, 2026 and an increase of $759.2 million, or 17%, compared to June 30, 2025. The linked quarter increase was driven primarily by higher levels of brokered deposits. As compared to June 30, 2025, the increase was driven primarily by higher levels of interest bearing demand and savings deposits, attributable to the growth in the Company’s diversified digital deposit banking platform and new deposit relationships.

Total borrowings were $1.51 billion at June 30, 2026, a decrease of $119.0 million compared to March 31, 2026 and an increase of $237.6 million compared to June 30, 2025. The changes for both comparable periods were driven primarily by fluctuations in the use of short-term lines of credit to meet liquidity needs.

Subordinated debentures were $112.0 million at both June 30, 2026 and March 31, 2026, and $24.2 million at June 30, 2025. The increase from June 30, 2025 reflects a private placement of $20.0 million in aggregate principal amount of fixed-to-floating rate subordinated notes issued during the first quarter of 2026 and $70.0 million in aggregate principal amount of a new 7.50% fixed-to-floating rate subordinated notes issued during the fourth quarter of 2025.

Asset Quality

Net charge-offs were $528,000, or 3 basis points annualized as a percentage of average loans, for the second quarter of 2026. This compares to $266,000, or 2 basis points annualized as a percentage of average loans, for the first quarter of 2026, and $488,000, or 4 basis points annualized as a percentage of average loans, for the second quarter of 2025.

A substantial portion of the Company’s non-performing loans are wholly or partially guaranteed by the U.S. Government, so asset quality metrics within this earnings release are shown with and without these guaranteed loans. Non-performing assets were $86.7 million at June 30, 2026 ($60.0 million excluding guaranteed loans), $90.7 million at March 31, 2026 ($63.4 million excluding guaranteed loans) and $87.1 million at June 30, 2025 ($58.5 million excluding guaranteed loans). Non-performing assets represented 1.15% of total assets at June 30, 2026 (0.80% excluding guaranteed loans), 1.23% at March 31, 2026 (0.86% excluding guaranteed loans) and 1.35% at June 30, 2025 (0.91% excluding guaranteed loans).

Capital

At June 30, 2026, the estimated capital levels for the Company and its subsidiary bank, Northpointe Bank (the “Bank”), remained well in excess of the minimum amounts needed for capital adequacy purposes, and the Bank’s capital levels met the necessary requirements to be considered “well-capitalized”. The regulatory capital ratios as of June 30, 2026 are estimates, pending completion and filing of the Bank’s regulatory reports.

Earnings Presentation and Conference Call

Northpointe will host its second quarter of 2026 earnings conference call on July 22, 2026 at 10:00 a.m. E.T. During the call, management will discuss the second quarter of 2026 financial results and provide an update on recent activities. There will be a live question-and-answer session following the presentation. It is recommended you join 10 minutes prior to the start time. Participants may access the live conference call by dialing 1-877-413-2414 and requesting “Northpointe Bancshares, Inc. Conference Call”. The conference call will also be webcast live at ir.northpointe.com. An audio archive will be available on the website following the call.

Forward Looking Statements

Statements in this earnings release regarding future events and our expectations and beliefs about our future financial performance and financial condition, as well as trends in our business and markets, constitute “forward-looking statements” within the meaning of, and subject to the protections of, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are made for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical in nature and may be identified by references to a future period or periods by the use of the words “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “project,” “outlook,” or words of similar meaning, or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” The forward-looking statements in this earnings release should not be relied on because they are based on current information and on assumptions that we make about future events and circumstances that are subject to a number of known and unknown risks and uncertainties that are often difficult to predict and beyond our control. As a result of those risks and uncertainties, and other factors, our actual financial results in the future could differ, possibly materially, from those expressed in or implied by the forward-looking statements contained in this earnings release and could cause us to amend our future plans. Factors that might cause such differences include, but are not limited to: the impact of current and future economic conditions, particularly those affecting the financial services industry, including the effects of declines in the real estate market, tariffs or trade wars (including reduced consumer spending, lower economic growth or recession, reduced demand for U.S. exports, disruptions to supply chains, and decreased demand for other banking products and services), high unemployment rates, inflationary pressures, increasing insurance costs, volatile interest rates, including the impact of changes in interest rates on our financial projections, models and guidance and slowdowns in economic growth, as well as the financial stress on borrowers as a result of the foregoing; uncertain duration of trade conflicts; potential impacts of adverse developments in the banking and mortgage industries, including impacts on deposits, liquidity and the regulatory rules and regulations; risks arising from media coverage of the banking and mortgage industries; risks arising from perceived instability in the banking and mortgage sectors; changes in the interest rate environment, including changes to the federal funds rate, which could have an adverse effect on the Company’s profitability; changes in prices, values and sales volumes of residential real estate; developments in our mortgage banking business, including loan modifications, general demand, and the effects of judicial or regulatory requirements or guidance; competition in our markets that may result in increased funding costs or reduced earning assets yields, thus reducing margins and net interest income; legislation or regulatory changes which could adversely affect the ability of the consolidated Company to conduct business combinations or new operations; changes in tax laws; significant turbulence or a disruption in the capital or financial markets and the effect of a fall in stock market prices on our investment securities; significant volatility in the markets for equity, fixed income and other asset classes globally or within specific markets; the ability to keep pace with technological changes, including changes regarding maintaining cybersecurity and managing the risks, regulatory uncertainty and operational impacts associated with generative artificial intelligence; increased competition in the financial services industry, particularly from regional and national institutions as well as fintech companies and other non-bank financial service providers offering digital, automated or alternative financial products and services; the impact of a failure in, or breach of, the Company’s operational or security systems or infrastructure, or those of third parties with whom the Company does business, including as a result of cyber-attacks or an increase in the incidence or severity of fraud, illegal payments, security breaches or other illegal acts impacting the Company or the Company’s customers; the effects of war or other conflicts, including the ongoing conflicts in the Middle East; major political shifts domestically or internationally (including federal budget disputes, debt ceiling negotiations, government shutdowns or other disruptions affecting government operations); and adverse results from current or future litigation, regulatory examinations or other legal and/or regulatory actions, including as a result of the Company’s participation in and execution of government programs, and legislative, regulatory or supervisory actions related to so‑called “de‑banking,” including any new prohibitions, requirements or enforcement priorities that could affect customer relationships, compliance obligations, or operational practices.

Therefore, the Company can give no assurance that the results contemplated in the forward-looking statements will be realized. Additional information regarding these and other risks and uncertainties to which our business and future financial performance are subject is contained in the sections titled “Cautionary Note Regarding Forward-Looking Statements” and “Risk Factors” in the Company’s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q on file with the U.S. Securities and Exchange Commission (the “SEC”), and in other documents that we file with the SEC from time to time, which are available on the SEC’s website, http://www.sec.gov. Due to these and other possible uncertainties and risks, readers are cautioned not to place undue reliance on the forward-looking statements contained in this earnings release or to make predictions based solely on historical financial performance. Any forward-looking statement speaks only as of the date on which it is made, and we do not undertake any obligation to update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. All forward-looking statements, express or implied, included in this earnings release are qualified in their entirety by this cautionary statement.

About Northpointe

Headquartered in Grand Rapids, Michigan, Northpointe Bancshares, Inc. is the holding company of Northpointe Bank, a client-focused company that provides home loans and retail banking products to communities across the nation. Our mission is to be the best bank in America by bringing value and innovation to the people we serve. To learn more visit www.northpointe.com.

NORTHPOINTE BANCSHARES, INC.
(unaudited, dollars in thousands except per share data)
Consolidated Statements of Income

	Three Months Ended									Six Months Ended
	June 30, 2026			Mar 31, 2026			June 30, 2025			June 30, 2026			June 30, 2025
Interest income
Loans – including fees	$	100,126		$	94,913		$	86,260		$	195,040		$	158,332
Investment securities – taxable		61			57			158			117			312
Federal Home Loan Bank (“FHLB”) stock – taxable		1,780			1,745			1,553			3,526			3,181
Interest bearing deposits		5,071			4,788			5,122			9,859			10,418
Total interest income		107,038			101,503			93,093			208,542			172,243

Interest expense
Deposits		47,715			44,455			43,582			92,169			79,893
Subordinated debentures		2,519			2,102			678			4,621			1,564
Borrowings		14,382			13,673			12,313			28,055			23,877
Total interest expense		64,616			60,230			56,573			124,845			105,334

Net interest income		42,422			41,273			36,520			83,697			66,909
Provision (benefit) for credit losses		264			(469	)		548			(205	)		1,932
Provision (benefit) for unfunded commitments		(54	)		24			35			(30	)		(55	)
Net interest income after provision (benefit) for credit losses and unfunded commitments		42,212			41,718			35,937			83,932			65,032

Non-Interest Income
Service charges on deposits and fees		315			264			239			579			419
Loan servicing fees		2,268			3,548			1,525			5,816			2,520
MPP fees		2,306			1,970			1,355			4,276			2,496
Net gain on sale of loans		17,046			16,547			19,351			33,592			37,938
Other non-interest income (loss)		(41	)		(184	)		(32	)		(224	)		1,939
Total Non-Interest Income		21,894			22,145			22,438			44,039			45,312

Non-Interest Expense
Salaries and benefits		25,026			24,353			22,234			49,379			42,677
Occupancy and equipment		744			820			918			1,565			1,890
Data processing expense		2,521			2,349			2,155			4,870			4,262
Professional fees		1,362			1,318			1,793			2,680			3,021
Other taxes and insurance		1,987			2,237			1,190			4,224			2,977
Other non-interest expense		3,579			3,358			3,432			6,937			6,267
Total Non-Interest Expense		35,219			34,435			31,722			69,655			61,094

Income before income taxes		28,887			29,428			26,653			58,316			49,250
Income tax expense		7,141			7,274			6,309			14,415			11,658

Net Income	$	21,746		$	22,154		$	20,344		$	43,901		$	37,592
Preferred stock dividends		453			453			2,296			906			4,503
Net Income Available To Common Stockholders	$	21,293		$	21,701		$	18,048		$	42,995		$	33,089

Basic Earnings Per Share	$	0.61		$	0.63		$	0.52		$	1.24		$	1.03
Diluted Earnings Per Share	$	0.60		$	0.62		$	0.51		$	1.22		$	1.01

Weighted Average Shares Outstanding		34,740,412			34,702,246			34,574,086			34,721,434			32,208,838
Diluted Weighted Average Shares Outstanding		35,416,828			35,260,806			35,218,962			35,339,248			32,833,905

NORTHPOINTE BANCSHARES, INC.
(unaudited, dollars in thousands except per share data)

Consolidated Balance Sheets

	June 30, 2026			Mar 31, 2026			June 30, 2025
Assets
Cash and cash equivalents	$	538,359		$	487,617		$	415,659
Equity securities		1,333			1,339			1,329
Debt securities available for sale		4,880			4,884			8,785
FHLB stock		76,099			80,109			69,574
Loans held for sale (“HFS”), at fair value		311,991			297,243			331,199
Loans held for investment (“HFI”) ⁽¹⁾		6,480,158			6,411,197			5,496,806
Allowance for credit losses		(9,436	)		(9,700	)		(12,375	)
Net loans		6,470,722			6,401,497			5,484,431

Mortgage servicing rights		23,088			20,608			16,388
Intangible assets, net		1,220			1,367			1,806
Premises and equipment		26,970			27,394			27,479
Other assets		75,289			73,819			74,244
Total Assets	$	7,529,951		$	7,395,877		$	6,430,894

Liabilities
Non-interest-bearing	$	261,524		$	277,239		$	201,449
Interest-bearing		4,971,791			4,724,178			4,272,622
Total Deposits		5,233,315			5,001,417			4,474,071

Borrowings		1,512,500			1,631,496			1,274,929
Subordinated debentures		111,955			111,872			24,181
Subordinated debentures issued through trusts		5,000			5,000			5,000
Deferred tax liability		4,637			4,110			3,141
Other liabilities		50,896			51,989			45,295
Total Liabilities		6,918,303			6,805,884			5,826,617

Stockholders’ Equity
Preferred stock, common stock and additional paid in capital		206,104			204,875			276,885
Retained earnings		405,634			385,206			327,556
Accumulated other comprehensive loss		(90	)		(88	)		(164	)
Total Stockholders’ Equity		611,648			589,993			604,277

Total Liabilities and Stockholders’ Equity	$	7,529,951		$	7,395,877		$	6,430,894

(1) Includes $165.6 million, $173.9 million and $175.1 million of loans carried at fair value at June 30, 2026, March 31, 2026 and June 30, 2025, respectively.

NORTHPOINTE BANCSHARES, INC.
(unaudited, dollars in thousands except per share data)
Selected Financial Highlights

	Three Months Ended									Six Months Ended
	June 30, 2026			Mar 31, 2026			June 30, 2025			June 30, 2026			June 30, 2025
PER COMMON SHARE
Diluted earnings per share	$	0.60		$	0.62		$	0.51		$	1.22		$	1.01
Book value	$	17.69		$	17.10		$	17.58		$	17.69		$	17.58
Tangible book value ⁽¹⁾	$	16.94		$	16.35		$	14.67		$	16.94		$	14.67

PERFORMANCE RATIOS
Return on average assets (annualized)		1.18	%		1.28	%		1.34	%		1.23	%		1.32	%
Return on average equity (annualized)		14.36	%		15.32	%		13.60	%		14.83	%		13.40	%
Return on average tangible common equity (annualized) ⁽¹⁾		14.69	%		15.71	%		14.49	%		15.19	%		14.41	%
Net interest margin		2.33	%		2.42	%		2.44	%		2.37	%		2.40	%
Efficiency ratio ⁽²⁾		54.76	%		54.30	%		53.80	%		54.53	%		54.44	%

ASSET QUALITY AND RATIOS
Allowance for credit losses to loans HFI		0.15	%		0.15	%		0.23	%		0.15	%		0.23	%
Allowance for credit losses to loans HFI (excluding fair value loans)		0.15	%		0.16	%		0.23	%		0.15	%		0.23	%
Allowance for credit losses to non-accrual loans		11.80	%		12.07	%		15.10	%		11.80	%		15.10	%
Allowance for credit losses to non-accrual loans (excluding guaranteed) (3)		17.19	%		17.67	%		22.75	%		17.19	%		22.75	%
Net charge-offs	$	528		$	266		$	488		$	794		$	747
Annualized net charge-offs to average loans		0.03	%		0.02	%		0.04	%		0.02	%		0.03	%
Non-performing assets to total assets		1.15	%		1.23	%		1.35	%		1.15	%		1.35	%
Non-performing assets to total assets (excluding guaranteed) ⁽³⁾		0.80	%		0.86	%		0.91	%		0.80	%		0.91	%
Non-performing loans to total gross loans		1.23	%		1.30	%		1.49	%		1.23	%		1.49	%
Non-performing loans to total gross loans (excluding guaranteed) ⁽³⁾		0.84	%		0.90	%		1.01	%		0.84	%		1.01	%

SELECTED OTHER INFORMATION
Equity / assets		8.12	%		7.98	%		9.40	%		8.12	%		9.40	%
Tangible common equity / tangible assets ⁽¹⁾		7.78	%		7.63	%		7.84	%		7.78	%		7.84	%
Loans / deposits ⁽⁴⁾		123.83	%		128.19	%		122.86	%		123.83	%		122.86	%
Liquidity ratio ⁽⁵⁾		7.15	%		6.59	%		6.46	%		7.15	%		6.46	%
Wholesale funding ratio ⁽⁶⁾		63.09	%		62.94	%		70.71	%		63.09	%		70.71	%

SELECTED MORTGAGE DATA
Residential mortgage originations	$	670,607		$	693,674		$	665,515		$	1,364,281		$	1,151,020
Residential mortgage interest rate lock commitments	$	719,118		$	901,682		$	753,317		$	1,620,800		$	1,482,753
Residential mortgage applications	$	1,006,895		$	1,073,628		$	1,096,299		$	2,080,523		$	2,170,036
MPP total loans funded	$	12,806,011		$	11,163,102		$	9,009,750		$	23,969,113		$	15,753,867
MPP balances participated (period end)	$	489,009		$	412,693		$	8,644		$	489,009		$	8,644
Total loans serviced for others (UPB) ⁽⁷⁾	$	5,498,627		$	5,231,083		$	4,019,138		$	5,498,627		$	4,019,138
Loans serviced for others (UPB)	$	2,031,256		$	1,948,505		$	1,596,367		$	2,031,256		$	1,596,367
Loans sub-serviced for others (UPB)	$	3,467,371		$	3,282,578		$	2,422,771		$	3,467,371		$	2,422,771

(1)		See non-GAAP reconciliation.
(2)		Efficiency ratio is defined as non-interest expense divided by the sum of net interest income and non-interest income.
(3)		Ratio excludes non-performing loans wholly or partially insured by the U.S. Government (see non-performing asset table within for more detail).
(4)		Loan / deposits ratio reflects loans HFI as a percentage of total deposits.
(5)		Liquidity ratio defined as cash and cash equivalents divided by total assets.
(6)		Wholesale funding ratio defined as brokered CDs plus borrowings divided by total deposits plus borrowings.
(7)		Excludes UPB of loans HFI and loans HFS.

Summary Average Balance Sheet
(Dollars in thousands)
	Three Months Ended						Three Months Ended						Three Months Ended
	June 30, 2026						March 31, 2026						June 30, 2025

	Average Principal Balance		Income/ Expense		Yield/ Rate		Average Principal Balance		Income/ Expense		Yield/ Rate		Average Principal Balance		Income/ Expense		Yield/ Rate
Assets
Loans ⁽¹⁾⁽²⁾	$	6,664,882	$	100,126	6.03	%	$	6,297,404	$	94,913	6.11	%	$	5,462,596	$	86,261	6.33	%
Securities, AFS⁽³⁾		6,120		61	4.00	%		6,199		57	3.73	%		9,916		157	6.35	%
Securities, FHLB Stock		76,461		1,780	9.34	%		80,109		1,745	8.83	%		69,574		1,553	8.95	%
Interest bearing deposits		553,686		5,071	3.67	%		527,962		4,788	3.68	%		463,199		5,122	4.44	%
Total Interest Earning Assets		7,301,149		107,038	5.88	%		6,911,674		101,503	5.96	%		6,005,285		93,093	6.22	%
Noninterest Earning Assets⁽⁴⁾		115,708						110,236						105,120
Total Assets	$	7,416,857					$	7,021,910					$	6,110,405

Liabilities
Deposits:
Transaction accounts	$	1,254,772	$	12,446	3.98	%	$	1,121,322	$	10,912	3.95	%	$	765,245	$	8,394	4.40	%
Savings & money market		491,371		4,187	3.42	%		534,564		4,614	3.50	%		326,396		3,114	3.83	%
Time		3,136,971		31,082	3.97	%		2,939,195		28,929	3.99	%		2,903,158		32,074	4.43	%
Total interest-bearing deposits		4,883,114		47,715	3.92	%		4,595,081		44,455	3.92	%		3,994,799		43,582	4.38	%
Sub Debt		116,905		2,519	8.64	%		101,378		2,102	8.41	%		29,166		678	9.32	%
Borrowings		1,455,723		14,382	3.96	%		1,401,300		13,673	3.96	%		1,249,314		12,313	3.95	%
Total interest-bearing liabilities		6,455,742		64,616	4.01	%		6,097,759		60,230	4.01	%		5,273,279		56,573	4.30	%
Noninterest-bearing deposits		301,940						292,437						195,275
Other noninterest-bearing liabilities		51,939						45,273						41,998
Total noninterest-bearing liabilities		353,879						337,710						237,273
Equity		607,236						586,441						599,853
	$	7,416,857					$	7,021,910					$	6,110,405

Net Interest Income			$	42,422					$	41,273					$	36,520
Net Interest Spread⁽⁵⁾					1.87	%					1.95	%					1.91	%
Net Interest Margin⁽⁶⁾					2.33	%					2.42	%					2.44	%

(1)		Loan balance includes loans HFI and loans HFS. Nonaccrual loans are included in total loan balances and no adjustment has been made for these loans in the yield calculation. Interest income on loans includes amortization of deferred loan fees, net of deferred loan costs.
(2)		Loan fees of $51,000, $74,000, and $30,000 for the quarters ended June 30, 2026, March 31, 2026 and June 30, 2025, respectively, are included in interest income.
(3)		Average yield based on carrying value and there are no tax-exempt securities in the portfolio.
(4)		Noninterest-earning assets includes the allowance for credit losses.
(5)		Net interest spread is the average yield on total interest-earning assets minus the average rate on total interest-bearing liabilities.
(6)		Net interest margin is annualized net interest income divided by total average interest-earning assets.

Summary Average Balance Sheet
(Dollars in thousands)
	Six Months Ended						Six Months Ended
	June 30, 2026						June 30, 2025

	Average Principal Balance		Income/ Expense		Yield/ Rate		Average Principal Balance		Income/ Expense		Yield/ Rate
Assets
Loans ⁽¹⁾⁽²⁾	$	6,482,158	$	195,040	6.07	%	$	5,069,698	$	158,332	6.30	%
Securities, AFS⁽³⁾		6,159		117	3.83	%		9,913		312	6.35	%
Securities, FHLB Stock		78,275		3,526	9.08	%		69,574		3,181	9.22	%
Interest bearing deposits		540,895		9,859	3.68	%		475,123		10,418	4.42	%
Total Interest Earning Assets		7,107,487		208,542	5.92	%		5,624,308		172,243	6.18	%
Noninterest Earning Assets⁽⁴⁾		112,988						106,952
Total Assets	$	7,220,475					$	5,731,260

Liabilities
Deposits:
Transaction accounts	$	1,188,416	$	23,357	3.96	%	$	752,548	$	16,385	4.39	%
Savings & money market		512,848		8,801	3.46	%		331,730		6,363	3.87	%
Time		3,038,629		60,011	3.98	%		2,580,565		57,145	4.47	%
Total interest-bearing deposits		4,739,893		92,169	3.92	%		3,664,843		79,893	4.40	%
Sub Debt		109,184		4,621	8.53	%		29,154		1,564	10.82	%
Borrowings		1,428,756		28,055	3.96	%		1,229,809		23,877	3.92	%
Total interest-bearing liabilities		6,277,833		124,845	4.01	%		4,923,806		105,334	4.31	%
Noninterest-bearing deposits		297,216						203,177
Other noninterest-bearing liabilities		48,530						38,581
Total noninterest-bearing liabilities		345,746						241,758
Equity		596,896						565,696
Total Liabilities and Equity	$	7,220,475					$	5,731,260

Net Interest Income			$	83,697					$	66,909
Net Interest Spread⁽⁵⁾					1.91	%					1.86	%
Net Interest Margin⁽⁶⁾					2.37	%					2.40	%

(1)		Loan balance includes loans HFI and loans HFS. Nonaccrual loans are included in total loan balances and no adjustment has been made for these loans in the yield calculation. Interest income on loans includes amortization of deferred loan fees, net of deferred loan costs.
(2)		Loan fees of $110,000 and $70,000 for the six months ended June 30, 2026 and 2025, respectively, are included in interest income.
(3)		Average yield based on carrying value and there are no tax-exempt securities in the portfolio.
(4)		Noninterest-earning assets includes the allowance for credit losses.
(5)		Net interest spread is the average yield on total interest-earning assets minus the average rate on total interest-bearing liabilities.
(6)		Net interest margin is annualized net interest income divided by total average interest-earning assets.

End of Period Loan Balances
(Dollars in thousands)	June 30, 2026		Mar 31, 2026		June 30, 2025

Residential:
Construction	$	8,271	$	11,008	$	27,144
All-in-One (AIO)		797,232		760,550		662,829
Other Consumer/Home Equity		48,127		50,208		54,495
Residential Mortgage ⁽¹⁾		1,668,169		1,728,291		1,859,814
Commercial		20,438		477		856
MPP		3,937,921		3,860,663		2,891,668
Total Loans HFI		6,480,158		6,411,197		5,496,806
Total Loans HFS		311,991		297,243		331,199
Total Gross Loans (HFI and HFS)	$	6,792,149	$	6,708,440	$	5,828,005

(1) Residential mortgage loans consist of closed end first liens, closed end second liens, and land development loans.

End of Period Deposit Balances
(Dollars in thousands)	June 30, 2026		Mar 31, 2026		June 30, 2025

Noninterest-bearing demand	$	261,524	$	277,239	$	201,449
Interest-bearing demand		1,359,670		1,299,693		749,479
Savings & money market		473,955		510,807		327,244
Brokered time deposits		2,743,529		2,543,511		2,790,399
Other time deposits		394,637		370,167		405,500
Total deposits	$	5,233,315	$	5,001,417	$	4,474,071

Loan Servicing Fees	Three Months Ended								Six Months Ended
(Dollars in thousands)	June 30, 2026			Mar 31, 2026		June 30, 2025			June 30, 2026		June 30, 2025

Fees on servicing	$	2,388		$	2,226	$	1,827		$	4,614	$	3,529
Change in fair value of MSRs ⁽¹⁾		(120	)		1,322		(302	)		1,202		(1,009	)
Total loan servicing fees	$	2,268		$	3,548	$	1,525		$	5,816	$	2,520

(1) Includes change in fair value and paid in full MSRs.

Net Gain on Sale of Loans	Three Months Ended									Six Months Ended
(Dollars in thousands)	June 30, 2026			Mar 31, 2026			June 30, 2025			June 30, 2026			June 30, 2025

Capitalized MSRs	$	2,750		$	2,238		$	902		$	4,988		$	1,968
Change in fair value of loans ⁽¹⁾		2,706			(3,524	)		3,340			(818	)		8,018
Gain/loss on sale of portfolio loans ⁽²⁾		—			—			—			—			—
Gain on sale of loans, net⁽³⁾		11,590			17,833			15,109			29,422			27,952
Total net gain on sale of loans	$	17,046		$	16,547		$	19,351		$	33,592		$	37,938

Total net gain on sale of loans	$	17,046		$	16,547		$	19,351		$	33,592		$	37,938
Exclude: (increases) decreases in fair value of loans HFI and LRA		(657	)		1,221			(1,812	)		564			(5,509	)
Exclude: Gain/loss on sale of portfolio loans		—			—			—			—			—
Total net gain on sale of loans, excluding portfolio sales and LRA / HFI fair value adjustments	$	16,389		$	17,768		$	17,539		$	34,156		$	32,429

(1) Includes the change in fair value of interest rate locks, loans HFS, and loans HFI.
(2) Includes proceeds from portfolio loans sales, which are netted against any associated changes in fair value of loans to determine total gain or loss on sale.
(3) Includes (a) net premium on sale of loans, (b) loan origination fees, points and costs, (c) provision from investor reserves, (d) gain or loss from forward commitments from hedging, and (e) fair value of LRA.

Salaries and employee benefits	Three Months Ended									Six Months Ended
(Dollars in thousands)	June 30, 2026			Mar 31, 2026			June 30, 2025			June 30, 2026			June 30, 2025

Salaries and other compensation	$	8,827		$	8,572		$	7,679		$	17,399		$	15,667
Salary deferral from loan origination		(1,203	)		(1,061	)		(991	)		(2,264	)		(1,959	)
Bonus and incentive compensation		4,274			4,600			3,564			8,874			7,206
MPP – variable compensation		1,536			1,489			1,058			3,025			1,676
Mortgage production – variable compensation		8,259			7,041			7,730			15,300			13,788
Employee benefits		3,333			3,712			3,194			7,045			6,299
Total salaries and employee benefits	$	25,026		$	24,353		$	22,234		$	49,379		$	42,677

Non-performing Assets
(Dollars in thousands)	June 30, 2026			Mar 31, 2026			June 30, 2025

Unguaranteed	$	54,888		$	54,902		$	54,402
Wholly or partially guaranteed		25,073			25,460			27,577
Total non-accrual loans	$	79,961		$	80,362		$	81,979

Unguaranteed	$	2,132		$	5,146		$	3,938
Wholly or partially guaranteed		1,598			1,852			974
Total past due loans (90 days or more and still accruing)	$	3,730		$	6,998		$	4,912

Unguaranteed	$	57,020		$	60,048		$	58,340
Wholly or partially guaranteed		26,671			27,312			28,551
Total non-performing loans	$	83,691		$	87,360		$	86,891

Other real estate owned	$	2,980		$	3,355		$	203

Total non-performing assets	$	86,671		$	90,715		$	87,094

Total non-performing assets (excl wholly or partially guaranteed)	$	60,000		$	63,403		$	58,543

Loans past due 31-89 days	$	40,066		$	34,639		$	44,626

Ratios:
Non-accrual loans to total gross loans		1.18	%		1.20	%		1.41	%
Non-performing loans to total gross loans		1.23	%		1.30	%		1.49	%
Non-performing assets to total assets		1.15	%		1.23	%		1.35	%

Ratios excluding loans wholly or partially guaranteed:
Non-accrual loans to total gross loans		0.81	%		0.82	%		0.93	%
Non-performing loans to total gross loans		0.84	%		0.90	%		1.01	%
Non-performing assets to total assets		0.80	%		0.86	%		0.91	%

Regulatory Capital Ratios ⁽¹⁾	June 30, 2026		Mar 31, 2026		June 30, 2025

Total Capital (to Risk Weighted Assets)
Consolidated	11.62	%	11.44	%	11.80	%
Bank	11.26	%	11.05	%	11.34	%
Tier 1 (Core) Capital (to Risk Weighted Assets)
Consolidated	9.66	%	9.45	%	11.15	%
Bank	11.10	%	10.89	%	11.15	%
CET 1 Capital Ratio (to Risk Weighted Assets)
Consolidated	9.19	%	8.97	%	9.25	%
Bank	11.10	%	10.89	%	11.15	%
Tier 1 Capital (to Average Assets)
Consolidated	8.30	%	8.46	%	9.98	%
Bank	9.54	%	9.75	%	9.98	%

(1) The regulatory capital ratios as of June 30, 2026 are estimates, pending completion and filing of the Bank’s regulatory reports.

Non-GAAP Financial Measures

This earnings release contains certain financial measures that are not measures recognized under U.S. generally accepted accounting principles (“GAAP”) and therefore are considered non-GAAP financial measures. The measures entitled tangible common equity, tangible book value, tangible assets, tangible common equity to tangible assets and return on average tangible common equity are not measures recognized under GAAP and therefore are considered non-GAAP financial measures. The most comparable GAAP measures to these measures are stockholders’ equity, book value per share, total assets, equity to assets and return on average equity, respectively.

The Company believes that non-GAAP financial measures provide useful information to management and investors that is supplementary to its financial condition, results of operations and cash flows computed in accordance with GAAP; however the Company acknowledges that the non-GAAP financial measures have inherent limitations. As such, these disclosures should not be viewed as a substitute for results determined in accordance with GAAP, and these disclosures are not necessarily comparable to non-GAAP financial measures that other companies use.

The Company calculates tangible common equity as stockholders’ equity less goodwill and intangible assets (net of deferred tax liability (“DTL”)) and preferred stock. The Company calculates tangible book value (“TBV”) per share as tangible common equity divided by the number of shares of common stock outstanding at the end of the relevant period. The Company calculates tangible assets as total assets less intangible assets (net of DTL). The Company calculates tangible common equity/tangible assets as tangible common equity divided by tangible assets. The Company calculates return on average tangible common equity as annualized net income available to common stockholders divided by average tangible equity. The most directly comparable GAAP financial measures are outlined in the non-GAAP reconciliation table below.

Non-GAAP Measures Reconciliation
	As of or for the Three Months Ended									As of or for the Six Months Ended
(Dollars in thousands)	June 30, 2026			Mar 31, 2026			June 30, 2025			June 30, 2026			June 30, 2025

Stockholders’ equity (GAAP)	$	611,648		$	589,993		$	604,277		$	611,648		$	604,277
Less: Preferred stock		24,979			24,979			98,734			24,979			98,734
Less: Intangible assets, net of DTL		919			1,029			1,379			919			1,379
Tangible common equity		585,750			563,985			504,164			585,750			504,164
Common shares at end of period		34,581,842			34,494,116			34,364,659			34,581,842			34,364,659
Tangible book value per share	$	16.94		$	16.35		$	14.67		$	16.94		$	14.67
Book value per share (GAAP)	$	17.69		$	17.10		$	17.58		$	17.69		$	17.58
Total assets (GAAP)	$	7,529,951		$	7,395,877		$	6,430,894		$	7,529,951		$	6,430,894
Less: Intangible assets, net of DTL		919			1,029			1,379			919			1,379
Tangible assets	$	7,529,032		$	7,394,848		$	6,429,515		$	7,529,032		$	6,429,515

Tangible common equity/tangible assets		7.78	%		7.63	%		7.84	%		7.78	%		7.84	%
Equity to assets (GAAP)		8.12	%		7.98	%		9.40	%		8.12	%		9.40	%

Net income	$	21,746		$	22,154		$	20,344		$	43,901		$	37,592
Less: Preferred stock dividends		453			453			2,296			906			4,503
Net income available to common stockholders		21,293			21,701			18,048			42,995			33,089

Annualized net income available to common stockholders		85,406			88,010			72,390			86,703			66,726
Average tangible common equity		581,266			560,361			499,667			570,863			463,075
Return on average tangible common equity		14.69	%		15.71	%		14.49	%		15.19	%		14.41	%

Annualized net income		87,223			89,847			81,600			88,530			75,807
Average equity		607,236			586,441			599,853			596,896			565,696
Return on average equity (GAAP)		14.36	%		15.32	%		13.60	%		14.83	%		13.40	%

View source version on businesswire.com: https://www.businesswire.com/news/home/20260721793462/en/

Kevin Comps, President

616-974-8491 | [email protected]

Brad Howes, CFO

616-726-2585 | [email protected]

KEYWORDS: Michigan United States North America

INDUSTRY KEYWORDS: Banking Professional Services Finance

MEDIA:

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July 21, 2026 5:03 pm

Birks Group Inc. Reports Fiscal 2026 Results

Birks Group Inc. Reports Fiscal 2026 Results

MONTREAL–(BUSINESS WIRE)–
Birks Group Inc. (the “Company” or “Birks Group”) (NYSE American: BGI), today reported its financial results for the fiscal year ended March 28, 2026.

Highlights

All figures presented herein are in Canadian dollars, unless indicated otherwise.

For the fiscal year ended March 28, 2026 (“fiscal 2026”), the Company reported net sales of $205.4 million, an increase of $27.6 million or 15.5%, compared to the fiscal year ended March 29, 2025 (“fiscal 2025”). Comparable store sales for fiscal 2026 increased by 2.6% compared to fiscal 2025. The increase in net sales is attributable in part, to the acquisition of the luxury timepieces and jewelry retail activities of European Boutique (“European Boutique Acquisition”), as well as an increase in both Birks branded jewelry and third party branded jewelry. The Company reported a gross profit of $79.2 million in fiscal 2026, compared to $66.3 million in fiscal 2025, an increase of $12.9 million, due to increased sales volume attributable in part, to the European Boutique Acquisition, an increase in sales of Birks branded jewelry and third-party branded jewelry, and a foreign exchange gain due to the weakening of the U.S. dollar. Gross profit as a percentage of sales for fiscal 2026 was 38.5%, an increase of 120 basis points from the gross profit as a percentage of sales of 37.3% for fiscal 2025 primarily as a result of the foreign exchange gain.

Mr. Niccolò Rossi di Montelera, Executive Chairman of the Board and Interim Chief Executive Officer of Birks Group, commented: “During fiscal 2026, we achieved 15.5% growth in net sales and a 2.6% growth in comparable store sales. Our retail performance has outperformed over the prior year due to the strategic acquisition of European Boutique along with organic growth, particularly with our Birks branded jewelry. We continue to focus on generating profitable growth in our Birks brand, including a new Birks mono-brand store which is planned to open in the fall of 2026 in Vancouver’s newly developed Oakridge mall.”

Mr. Rossi di Montelera further commented: “I am particularly pleased with the successful integration of the European Boutique Acquisition, our recent refinancing of our term loan with Gordon Brothers and the amendment and extension of our revolver facility with Wells Fargo Canada Corporation, as well as the performance of our Birks branded jewelry business. These achievements would not have been possible without the unwavering commitment and dedication of our employees.”

Financial overview for the fiscal year ended March 28, 2026:

Total net sales for fiscal 2026 were $205.4 million compared to $177.8 million in fiscal 2025, an increase of $27.6 million, or 15.5%. The increase in net sales in fiscal 2026 was primarily driven by the results of the Company’s retail channel. Net retail sales in fiscal 2026 were $27.2 million higher than fiscal 2025, an increase attributable in part, to the European Boutique Acquisition, and an increase in sales of Birks branded jewelry and third-party branded jewelry, partially offset by a decrease in third-party branded timepiece sales due to a brand exit in one retail store.

Comparable store sales increased by 2.6% in fiscal 2026 compared to fiscal 2025 mainly due to higher sales in Birks branded jewelry, an increase in average sales transaction value, and an increase in sales of third-party branded jewelry, partially offset by lower sales in third-party branded timepieces mainly due to a brand exit in one retail store.

Total gross profit for fiscal 2026 was $79.2 million, or 38.5% of net sales, compared to $66.3 million, or 37.3% of net sales, in fiscal 2025. This increase of $12.9 million in gross profit was primarily due to increased sales volume attributable in part, to the European Boutique Acquisition, an increase in sales of Birks branded jewelry and third-party branded jewelry, and a foreign exchange gain due to the weakening of the U.S. dollar, partially offset by a decrease in third-party branded timepiece sales mainly due to a brand exit in one retail store and the sales mix. The increase of 120 basis points in gross margin percentage resulted primarily from the foreign exchange gain.

SG&A expenses in fiscal 2026 were $68.5 million, or 33.4% of net sales, compared to $59.5 million, or 33.5% of net sales in fiscal 2025, an increase of $9.0 million. The primary driver of the increase in SG&A expenses was mainly due to the European Boutique Acquisition. Other factors that contributed to the increase in SG&A expenses include (i) an increase in occupancy costs of $2.8 million ($2.7 million of the increase related to European Boutique’s operations), (ii) an increase in compensation costs of $3.4 million mainly due to higher sales volume ($2.4 million of the increase related to European Boutique’s operations) as well as severance costs of approximately $0.9 million primarily related to the CEO transition, (iii) an increase in credit card fees of $1.2 million due to higher sales volume ($0.6 million of the increase related to European Boutique’s operations), and (iv) an increase in professional fees of $1.6 million mainly due to transaction costs of $0.4 million related to the European Boutique Acquisition and an increase in consulting fees ($0.2 million of the increase related to European Boutique’s operations). These increases were partially offset by a decrease in general expenses of $0.1 million (includes $0.1 million of additional costs related to European Boutique’s operations), as well as a decrease in marketing costs of $0.1 million (includes $0.3 million of marketing costs related to European Boutique’s operations) as a result of overall cost-saving measures, including reduced spending on events and campaigns, and by lower non-cash stock-based compensation expense ($0.2 million) mainly due to fluctuations in the Company’s stock price during fiscal 2026. As a percentage of sales, SG&A expenses in fiscal 2026 decreased by 10 basis points as compared to fiscal 2025. We intend to continue to look for cost containment initiatives and saving opportunities when feasible.

Adjusted EBITDA⁽¹⁾ for fiscal 2026 was $12.9 million, an increase of $3.7 million, compared to adjusted EBITDA⁽¹⁾ of $9.2 million for fiscal 2025.

Operating income for fiscal 2026 was $3.1 million, an increase of $8.6 million, compared to a reported operating loss of $5.5 million for fiscal 2025.

Interest and other financing costs were $8.8 million in fiscal 2026, a decrease of $0.9 million, compared to interest and other financing costs of $9.7 million in fiscal 2025. This decrease is mainly driven by a foreign exchange gain of $1.1 million in fiscal 2026 versus a foreign exchange loss of $1.0 million in fiscal 2025 on our U.S. dollar-denominated debt relating to the weakening of the U.S. dollar compared to the Canadian dollar, partially offset by an increase in the average amount outstanding on the amended credit facility and the increase in the amended term loan in connection with the European Boutique Acquisition during fiscal 2026 compared to fiscal 2025.

The Company recognized a net loss for fiscal 2026 of $3.4 million, or $0.17 per share, compared to a net loss for fiscal 2025 of $12.8 million, or $0.66 per share.

(1)

This is a non-GAAP financial measure defined below under “Non-GAAP Measures” and accompanied by a reconciliation to the most directly comparable GAAP financial measure.

About Birks Group Inc.

Birks Group is a leading designer of fine jewelry, and an operator of luxury jewelry, timepieces and gifts retail stores in Canada. The Company currently operates 32 store locations, including: 17 store locations under the Maison Birks brand in most major metropolitan markets in Canada, one retail location in Montreal under the Birks brand, one retail location in Montreal under the TimeVallée brand, one retail location in Calgary under the Brinkhaus brand, one retail location in Vancouver under the Patek Philippe brand, one retail location in Vancouver under the Chaumet brand, four retail locations in Laval, Ottawa and Toronto under the Breitling brand, one retail location in Toronto under the Omega brand, one retail location in Toronto under the Montblanc brand, and four retail locations in the Greater Toronto Area under the European Boutique brand. Birks was founded in 1879 and has become Canada’s premier designer and retailer of fine jewelry, timepieces and gifts. Additional information can be found on Birks’ website, www.birksgroup.com.

NON-GAAP MEASURES

The Company reports financial information in accordance with U.S. Generally Accepted Accounting Principles (“U.S. GAAP”). The Company’s performance is monitored and evaluated using various sales and earnings measures that are adjusted to include or exclude amounts from the most directly comparable GAAP measure (“non-GAAP measures”). The Company presents such non-GAAP measures in reporting its financial results to assist in business decision-making and to provide key performance information to senior management. The Company believes that this additional information provided to investors and other external stakeholders will allow them to evaluate the Company’s operating results using the same financial measures and metrics used by the Company in evaluating performance. The Company does not, nor does it suggest that investors and other external stakeholders should, consider non-GAAP measures in isolation from, or as a substitute for, financial information prepared in accordance with U.S. GAAP. These non-GAAP measures may not be comparable to similarly titled measures presented by other companies. In addition to our results determined in accordance with U.S. GAAP, we use non-GAAP measures including “EBITDA” and “Adjusted EBITDA”.

EBITDA

“EBITDA” is defined as net income (loss) before interest expense and other financing costs, income taxes expense (recovery) and depreciation and amortization.

EBITDA & Adjusted EBITDA (in thousands)
	For the fiscal year ended
	March 28, 2026			March 29, 2025

Net income (loss) (GAAP measure)	$	(3,395	)	$	(12,819	)
as a % of net sales		-1.7	%		-7.2	%
Add the impact of:
Interest expense and other financing costs		8,761			9,712
Depreciation and amortization		7,326			7,733
Income taxes (benefits)		—			—

EBITDA (non-GAAP measure)	$	12,692		$	4,626
as a % of net sales		6.2	%		2.6	%
Add the impact of:
Impairment of long-lived assets ^(a)		172			4,592

Adjusted EBITDA (non-GAAP measure)	$	12,864		$	9,218
as a % of net sales		6.3	%		5.2	%

^(a)Non-cash^{impairment of long-lived assets in fiscal 2026 and 2025 are related to an under-performing retail location and certain software costs associated with the delay in completing the implementation of the Company’s ERP system, respectively.}

Forward Looking Statements

This press release contains forward looking statements which can be identified, for example, by their use of words such as: “plans,” “expects,” “believes,” “will,” “anticipates,” “intends,” “projects,” “estimates,” “could,” “would,” “may,” “planned,” “goal,” and other words of similar meaning. All statements that address expectations, possibilities or projections about the future, including without limitation, statements about anticipated economic conditions, availability under our senior secured revolving credit facility with Wells Fargo Canada Corporation and our senior secured term loan facility with 1903P Loan Agent, LLC, an affiliate of Gordon Brothers Group, anticipated distribution of profits, and our strategies for growth, expansion plans, sources or adequacy of capital, expenditures and financial results are forward-looking statements.

Because such statements include various risks and uncertainties, actual results might differ materially from those projected in the forward-looking statements and no assurance can be given that the Company will meet the results projected in the forward-looking statements. Accordingly, the reader should not place undue reliance on forward-looking statements. These risks and uncertainties include, but are not limited to the following: (i) heightened inflationary pressure and interest rates, a decline in consumer discretionary spending, increased cost of borrowing or deterioration in consumer financial position; (ii) the Company’s ability to maintain its listing on the NYSE American or to list its securities on another national securities exchange, (iii) economic, political and market conditions, including the economies of Canada and the U.S., which could adversely affect the Company’s business, operating results or financial condition, including its revenue and profitability, through the impact of changes in the real estate markets, changes in the equity markets and decreases in consumer confidence and the related changes in consumer spending patterns, and the impact on store traffic, tourism and sales, as well as the recently imposed tariffs (and retaliatory measures), possible changes therefrom and other trade restrictions; (iv) the impact of fluctuations in foreign exchange rates, increases in commodity prices and borrowing costs and their related impact on the Company’s costs and expenses; (v) the Company’s ability to maintain and obtain sufficient sources of liquidity to fund its operations, to achieve planned sales, gross margin and net income, to keep costs low, to implement its business strategy, to maintain relationships with its primary vendors, to source raw materials, to mitigate fluctuations in the availability and prices of the Company’s merchandise, to compete with other jewelers, to succeed in its marketing initiatives (including with respect to Birks branded products), and to have a successful customer service program; (vi) the Company’s plan to evaluate the productivity of existing stores, close unproductive stores and open new stores in new prime retail locations, renovate existing stores and invest in its website and e-commerce platform; (vii) the Company’s ability to execute its strategic vision; (viii) the Company’s ability to invest in and finance capital expenditures; and (ix) the Company’s ability to continue as a going concern.

Information concerning the above and other risk factors that could cause actual results to differ materially is set forth under the captions “Risk Factors” and “Operating and Financial Review and Prospects” and elsewhere in the Company’s Annual Report on Form 20-F filed with the Securities and Exchange Commission on July 21, 2026 and subsequent filings with the Securities and Exchange Commission. The Company undertakes no obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this statement or to reflect the occurrence of unanticipated events, except as required by law.

BIRKS GROUP INC. CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share amounts)


	Fiscal Year Ended
	March 28, 2026			March 29, 2025
Net sales	$	205,424		$	177,807
Cost of sales		126,269			111,499
Gross profit		79,155			66,308
Selling, general and administrative expenses		68,520			59,518
Depreciation and amortization		7,326			7,733
Impairment of long-lived assets		172			4,592
Total operating expenses		76,018			71,843
Operating income (loss)		3,137			(5,535	)
Interest and other financial costs		8,761			9,712
Income (loss) before taxes and equity in earnings of joint venture		(5,624	)		(15,247	)
Income taxes (benefits)		—			—
Equity in earnings of joint venture, net of taxes of $0.8 million ($0.9 million in fiscal 2025)		2,229			2,428
Net (loss) income, net of tax	$	(3,395	)	$	(12,819	)

Weighted average common shares outstanding:
Basic		19,600			19,357
Diluted		19,600			19,357
Net (loss) income per common share:
Basic	$	(0.17	)	$	(0.66	)
Diluted		(0.17	)		(0.66	)

BIRKS GROUP INC. CONSOLIDATED BALANCE SHEETS (In thousands)

	As of
	March 28, 2026			March 29, 2025
Assets
Current Assets
Cash and cash equivalents	$	1,462		$	1,509
Accounts receivable and other receivables		4,356			6,608
Inventories		126,112			116,277
Prepaids and other current assets		1,837			2,072
Total current assets		133,767			126,466
Long-term receivables		1,361			1,084
Equity investment in joint venture		5,928			5,169
Property and equipment, net		23,167			25,380
Operating lease right-of-use assets		46,872			34,964
Intangible assets		3,250			3,017
Total non-current assets		80,578			69,614
Total assets	$	214,345		$	196,080

Liabilities and Stockholders’ Equity (Deficiency)
Current liabilities
Bank indebtedness	$	71,671		$	73,630
Accounts payable		60,034			58,114
Accrued liabilities		7,484			6,053
Current portion of long-term debt		2,697			4,860
Current portion of operating lease liabilities		9,623			6,929
Total current liabilities		151,509			149,586
Long-term debt and long-term debt due to related parties		35,792			21,374
Long-term portion of operating lease liabilities		45,898			38,629
Other long-term liabilities		2,514			4,502
Total long-term liabilities		84,204			64,505

Stockholders’ equity (deficiency)
Class A common stock – no par value, unlimited shares authorized, issued and outstanding		43,419			42,854
11,987,305 (11,876,717 as of March 29, 2025)
Class B common stock – no par value, unlimited shares authorized, issued and outstanding
7,717,970		57,755			57,755
Preferred stock – no par value, unlimited shares authorized, none issued and outstanding		—			—
Additional paid-in capital		19,154			19,719
Accumulated deficit		(141,690	)		(138,295	)
Accumulated other comprehensive income (loss)		(6	)		(44	)
Total stockholders’ equity (deficiency)		(21,368	)		(18,011	)
Total liabilities and stockholders’ equity (deficiency)	$	214,345		$	196,080

View source version on businesswire.com: https://www.businesswire.com/news/home/20260721930490/en/

Company Contact:

Aldo Battista

Vice President and Chief Financial Officer

(514) 397-2592

For all press and media inquiries,

please contact:

[email protected]

KEYWORDS: North America Canada

INDUSTRY KEYWORDS: Retail Luxury Jewelry

MEDIA:

July 21, 2026 5:03 pm

First BanCorp Declares Quarterly Cash Dividend on Common Stock

First BanCorp Declares Quarterly Cash Dividend on Common Stock

SAN JUAN, Puerto Rico–(BUSINESS WIRE)–First BanCorp. (the “Corporation”) (NYSE: FBP), the bank holding company for FirstBank Puerto Rico, announced today that its Board of Directors has declared a quarterly cash dividend of $0.20 per share on its outstanding common stock. The dividend is payable on September 11, 2026 to shareholders of record at the close of business on August 27, 2026.

About First BanCorp.

First BanCorp. is the parent corporation of FirstBank Puerto Rico, a state-chartered commercial bank with operations in Puerto Rico, the U.S. and British Virgin Islands and Florida, and of FirstBank Insurance Agency, LLC. First BanCorp’s shares of common stock trade on the New York Stock Exchange under the symbol “FBP.”

Safe Harbor

This press release may contain “forward-looking statements” concerning the Corporation. The words or phrases “expect,” “anticipate,” “intend,” “look forward,” “should,” “would,” “believes” and similar expressions are meant to identify “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbor created by such sections. Such forward-looking statements include, but are not limited to, statements regarding the Corporation’s ability to pay dividends on the Corporation’s Common Stock in any future periods. Forward-looking statements involve known and unknown risks, uncertainties and contingencies that may cause actual results to differ materially from the expectations expressed or implied by such forward-looking statements. These risks, uncertainties and contingencies include, but are not limited to the factors described in the Corporation’s most recent Annual Report on Form 10-K, in its Quarterly Reports on Form 10-Q and in our other filings with the Securities and Exchange Commission. The Corporation undertakes no obligation to update any “forward-looking statements” to reflect occurrences or unanticipated events or circumstances after the date of such statements, except as required by securities laws.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260721612121/en/

First BanCorp.
Ramon Rodríguez
Senior Vice President
Corporate Strategy and Investor Relations
(787) 729-8200 Ext. 82179
[email protected]

KEYWORDS: Florida Latin America North America United States Puerto Rico Caribbean

INDUSTRY KEYWORDS: Banking Professional Services Insurance Finance

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July 21, 2026 4:54 pm

Strata Critical Medical Schedules Second Quarter 2026 Earnings Conference Call

NEW YORK, July 21, 2026 (GLOBE NEWSWIRE) — Strata Critical Medical. (Nasdaq: SRTA, “Strata” or the “Company”), will release financial results for the second quarter ended June 30, 2026 on Tuesday, August 4, 2026 before the market opens. The company will hold a conference call on the same day at 8:00 am Eastern Time to discuss the results. The call will be hosted by Melissa Tomkiel, Strata’s Co-Chief Executive Officer and General Counsel, and Will Heyburn, Strata’s Co-Chief Executive Officer and Chief Financial Officer, and will include a question-and-answer session for call participants.

To join the live call, please register here. Upon registration, a dial-in and unique PIN will be provided to join the call.

An audio-only webcast of the call may be accessed from the Investors section of the Company’s website at https://ir.stratacritical.com/ or by registering at the link here. A replay of the webcast will be available for one year.

About Strata Critical Medical, Inc.

Strata is a time-critical logistics and medical services provider to the U.S. healthcare industry. We operate one of the nation’s largest air transport and surgical services networks for transplant hospitals and organ procurement organizations, offering an integrated “one call” solution for donor organ recovery.

Strata’s core services include air and ground logistics, surgical organ recovery, organ placement and normothermic regional perfusion for the transplant industry, as well as perfusion staffing and equipment solutions for cardiovascular surgery centers, offered under the Trinity Medical Solutions and Keystone Perfusion brands.

For more information, visit www.srta.com.

Contacts

Mathew Schneider
[email protected]

July 21, 2026 4:50 pm

Dyne Therapeutics Announces Proposed Public Offering of Common Stock

WALTHAM, Mass., July 21, 2026 (GLOBE NEWSWIRE) — Dyne Therapeutics, Inc. (Nasdaq: DYN), a clinical-stage company focused on delivering functional improvement for people living with genetically driven neuromuscular diseases, today announced that it has commenced an underwritten public offering of $300,000,000 of shares of its common stock. Dyne also intends to grant the underwriters a 30-day option to purchase up to an additional $45,000,000 of shares of its common stock. All of the shares in the proposed offering are to be sold by Dyne.

Morgan Stanley, Jefferies and Evercore ISI are acting as joint book-running managers for the offering. LifeSci Capital and Raymond James are also acting as joint book-running managers for the offering. Jones is acting as lead manager for the offering. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

The proposed offering is being made pursuant to a shelf registration statement on Form S-3 that was previously filed with the Securities and Exchange Commission (“SEC”) on March 5, 2024 and became automatically effective upon filing. This offering will be made only by means of a prospectus supplement and accompanying prospectus that form a part of the registration statement. A preliminary prospectus supplement relating to and describing the terms of the offering is expected to be filed with the SEC and, if and when filed, copies of the preliminary prospectus supplement relating to the offering may be obtained for free by visiting the SEC’s website at www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus may also be obtained by contacting: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, or by email at [email protected]; Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at (877) 821-7388, or by email at [email protected]; Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, NY 10055, by telephone at (888) 474-0200, or by email at [email protected]; LifeSci Capital LLC, Attention: LifeSci Capital LLC, 1700 Broadway, 40th Floor, New York, NY 10019, or by email at [email protected]; or Raymond James & Associates, Inc., at 880 Carillon Parkway, St. Petersburg, Florida 33716, Attention: Equity Syndicate, by calling toll-free at 1-800-248-8863, or emailing at [email protected]. The final terms of the offering will be disclosed in a final prospectus supplement to be filed with the SEC.

This press release shall not constitute an offer to sell, or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Dyne Therapeutics

Dyne Therapeutics is focused on delivering functional improvement for people living with genetically driven neuromuscular diseases. We are developing therapeutics that target muscle and the central nervous system (CNS) to address the root cause of disease. The company is advancing clinical programs for myotonic dystrophy type 1 (DM1) and Duchenne muscular dystrophy (DMD), and preclinical programs for facioscapulohumeral muscular dystrophy (FSHD) and Pompe disease. At Dyne, we are on a mission to deliver functional improvement for individuals, families and communities.

Forward-Looking Statements

This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, contained in this press release, including statements relating to the proposed underwritten public offering, the anticipated terms of the proposed offering, market and other conditions relating to the offering, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “objective,” “ongoing,” “plan,” “predict,” “project,” “potential,” “should,” or “would,” or the negative of these terms, or other comparable terminology are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Dyne may not actually achieve the plans, intentions or expectations disclosed in these forward-looking statements, and you should not place undue reliance on these forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in these forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and the completion of the public offering on the anticipated terms or at all and other factors discussed in the “Risk Factors” section of the preliminary prospectus supplement to be filed with the SEC, as well as the risks and uncertainties identified in Dyne’s filings with the SEC, including Dyne’s most recent Form 10-Q and in subsequent filings Dyne may make with the SEC. In addition, the forward-looking statements included in this press release represent Dyne’s views as of the date of this press release. Dyne anticipates that subsequent events and developments will cause its views to change. However, while Dyne may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Dyne’s views as of any date subsequent to the date of this press release.

Contacts:

Investors

Mia Tobias
[email protected]
781-317-0353

Media

Stacy Nartker
[email protected]
781-317-1938

July 21, 2026 4:48 pm

Genesco Shareholders Re-Elect All Nine of Genesco’s Highly Qualified Director Nominees at 2026 Annual Meeting of Shareholders

Genesco Shareholders Re-Elect All Nine of Genesco’s Highly Qualified Director Nominees at 2026 Annual Meeting of Shareholders

NASHVILLE, Tenn.–(BUSINESS WIRE)–Genesco Inc. (NYSE: GCO) today announced that, based on preliminary voting results provided by its proxy solicitor following the Company’s 2026 Annual Meeting of Shareholders, Genesco shareholders have voted to re-elect all nine of its highly qualified director nominees – Gregory Sandfort, Mimi Vaughn, Joanna Barsh, Matt Bilunas, Carolyn Bojanowski, John Lambros, Thurgood Marshall, Jr., Angel Martinez, and Mary Meixelsperger – to the Company’s Board of Directors.

Genesco issued the following statement:

“We greatly appreciate the strong support of Genesco’s shareholders in electing all nine of the Company’s directors, and the confidence they have shown in our Board, management team and Footwear First strategy to create shareholder value. We are advancing our four strategic growth drivers – curate and create winning product; elevate distinctive brands; create exceptional customer experiences; and build amazing teams. Our full focus is on continuing to build on the clear momentum our organization has underway. We are confident in our path forward and excited to capitalize on the opportunities we see ahead for our brands.”

The preliminary voting results announced today are subject to certification by the independent inspector of elections. Final voting results will be reported in a Current Report on Form 8-K to be filed with the U.S. Securities and Exchange Commission.

About Genesco Inc.

Genesco Inc. (NYSE: GCO) is a footwear first company with distinctively positioned retail and lifestyle brands and proven omnichannel capabilities offering customers the footwear they desire in engaging shopping environments, including more than 1,200 retail stores and branded e-commerce websites. Its Journeys, Little Burgundy and Schuh brands serve teens, kids and young adults with on-trend fashion footwear that inspires youth culture in the U.S., Canada and the U.K. Johnston & Murphy serves successful, affluent men and women with premium footwear, apparel and accessories in the U.S. and Canada, and Genesco Brands Group sells branded lifestyle footwear to leading retailers under licensed brands including Wrangler, Dockers and Starter. Founded in 1924, Genesco is based in Nashville, Tennessee. For more information on Genesco and its operating divisions, please visit www.genesco.com.

Forward-Looking Statements

This document includes certain forward-looking statements, which include statements regarding our intent, belief or expectations and all statements other than those made solely with respect to historical fact. Actual results could differ materially from those reflected by the forward-looking statements in this document and a number of factors may adversely affect the forward-looking statements and our future results, liquidity, capital resources or prospects. These include, but are not limited to, adjustments to projections reflected in forward-looking statements, including those resulting from weakness in store, e-commerce and shopping mall traffic, restrictions on operations imposed by government entities and/or landlords, changes in public safety and health requirements and limitations on our ability to adequately staff and operate stores. Differences from expectations could also result from store closures and effects on the business as a result of the level of consumer spending on our merchandise and interest in our brands and in general; the level and timing of promotional activity necessary to maintain inventories at appropriate levels; our ability to pass on price increases to our customers; the imposition of tariffs (including the timing and amount thereof) on products imported by us or our vendors as well as the ability and costs to move production of products in response to tariffs; the amount and timing of any tariff refunds; our ability to obtain from suppliers products that are in-demand on a timely basis and effectively manage disruptions in product supply or distribution, including disruptions as a result of pandemics or geopolitical events, including disruptions near crucial trade routes; unfavorable trends in fuel costs, foreign exchange rates, foreign labor and material costs, and other factors affecting the cost of products; a disruption in shipping or increase in cost of our imported products, and other factors affecting the cost of products; our dependence on third-party vendors and licensors for the products we sell; store closures and effects on the business as a result of civil disturbances; our ability to renew our license agreements; impacts of the ongoing geopolitical conflicts around the world including without limitation, the conflict with Iran; other sources of market weakness in the locations in which we operate; the effectiveness of our omni-channel initiatives; costs associated with shareholder activism; costs associated with changes in minimum wage and overtime requirements; wage pressures; labor shortages; the effects of inflation; the evolving regulatory landscape related to our use of social media; weakness in the consumer economy and retail industry; competition and fashion trends in our markets, including trends with respect to the popularity of casual and dress footwear; any failure to increase sales at our existing stores, given our high fixed expense cost structure, and in our e-commerce businesses; risks related to the potential for terrorist events; changes in buying patterns by significant wholesale customers; changes in consumer preferences; our ability to continue to complete and integrate acquisitions; our ability to expand our business and diversify our product base; impairment of goodwill in connection with acquisitions; payment related risks that could increase our operating cost, expose us to fraud or theft, subject us to potential liability and disrupt our business; and changes in the timing of holidays or in the onset of seasonal weather affecting period-to-period sales comparisons. Additional factors that could cause differences from expectations include the ability to secure allocations to refine product assortments to address consumer demand; the ability to renew leases in existing stores and control or lower occupancy costs, to open or close stores in the number and on the planned schedule, and to conduct required remodeling or refurbishment on schedule and at expected expense levels; our ability to realize anticipated cost savings, including rent savings; our ability to realize anticipated cost savings in connection with the restructuring of our information technology functions; amount and timing of share repurchases; our ability to make our occupancy costs more variable; our ability to achieve expected digital gains and gain market share; deterioration in the performance of individual businesses or of our market value relative to our book value, resulting in impairments of fixed assets, operating lease right of use assets or intangible assets or other adverse financial consequences and the timing and amount of such impairments or other consequences; unexpected changes to the market for our shares or for the retail sector in general; costs and reputational harm as a result of disruptions in our business or information technology systems either by security breaches and incidents or by potential problems associated with the implementation of new or upgraded systems or as the result of the restructuring of our information technology functions; risks that our efforts to integrate AI into our business operations may not be successful and could result in reputational harm and/or liability; changes in tax laws and tax rates and our ability to realize any anticipated tax benefits in both the amount and timeframe anticipated; the cost and outcome of litigation, investigations, environmental matters and other disputes that involve us; and other risk factors as set forth in our filings with the Securities and Exchange Commission. The Company disclaims any obligation to update or alter such statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260721309373/en/

Genesco Media Contact
Claire S. McCall, Director, Corporate Relations
(615) 308-2483 / [email protected]

Leigh Parrish / Viveca Tress
Joele Frank, Wilkinson Brimmer Katcher
(212) 355-4449

Genesco Financial Contact
Darryl MacQuarrie, Senior Director, FP&A & Investor Relations
(615) 308-5629 / [email protected]

KEYWORDS: Tennessee United States North America

INDUSTRY KEYWORDS: Online Retail Fashion Other Retail Retail Footwear

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