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Gentherm Inc

For the period ended Mar 31, 2025. Filed Apr 24, 2025.

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About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2025 · Filed Apr 24, 2025

THRM$29.47-0.5%Stored close · as of Nov 6, 2026
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

☒ Quarterly report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934

For the quarterly period ended March 31,2025

OR

☐ Transition report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934

For the transition period from to .

Commission File Number:0-21810

(Exact name of registrant as specified in its charter)

Michigan95-4318554
(State or other jurisdiction ofincorporation or organization)(I.R.S. EmployerIdentification No.)
28875 Cabot Drive, Novi, MI48377
(Address of principal executive offices)(Zip Code)

Registrant’s telephone number, including area code: (248)504-0500

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading SymbolName of each exchange on which registered
Common Stock, no par valueTHRMNasdaq

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer☒Accelerated filer☐
Non-accelerated filer☐Smaller reporting company☐
Emerging growth company☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐ No☒

At April 18, 2025, there were 30,859,785 issued and outstanding shares of Common Stock of the registrant.

TABLE OFCONTENTS

Part I. Financial Information3
Item 1.Financial Statements (Unaudited)3
Consolidated Condensed Balance Sheets3
Consolidated Condensed Statements of (Loss) Income4
Consolidated Condensed Statements of Comprehensive Income (Loss)5
Consolidated Condensed Statements of Cash Flows6
Consolidated Condensed Statements of Changes in Shareholders’ Equity7
Notes to Unaudited Consolidated Condensed Financial Statements8
Note 1 - Overview8
Note 2 - New Accounting Pronouncements9
Note 3 - Restructuring9
Note 4 - Details of Certain Balance Sheet Components11
Note 5 - Goodwill and Other Intangibles11
Note 6 - Debt12
Note 7 - Commitments and Contingencies14
Note 8 - Supplier Finance Program15
Note 9 - Earnings Per Share15
Note 10 - Financial Instruments16
Note 11 - Fair Value Measurements18
Note 12 - Equity18
Note 13 - Reclassifications Out of Accumulated Other Comprehensive Income (Loss)19
Note 14 - Income Taxes19
Note 15 - Segment Reporting20
Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations23
Item 3.Quantitative and Qualitative Disclosures About Market Risk34
Item 4.Controls and Procedures35
Part II. Other Information36
Item 1.Legal Proceedings36
Item 1A.Risk Factors36
Item 2.Unregistered Sales of Equity Securities and Use of Proceeds37
Item 5.Other Information37
Item 6.Exhibits38
Signatures39
ContentsView on SEC.gov

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