Covista Inc.
For the period ended Sep 30, 2026. Filed Oct 29, 2026.
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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.
Sep 30, 2026 · Filed Oct 29, 2026
Contents
Restructuring Expense
- Restructuring Expense
During the three months ended September 30, 2026 and 2025, Covista recorded restructuring expense primarily driven by prior real estate consolidations at Covista’s home office. We continue to incur restructuring charges or reversals related to exited leased space from previous restructuring actions. When estimating costs of exiting lease space, estimates are made which could differ materially from actual results and may result in additional restructuring charges or reversals in future periods. Termination benefit charges represent severance pay and benefits for employees impacted by workforce reductions. Restructuring expense was as follows (in thousands):
| · · · · · · · · · | ||||||
|---|---|---|---|---|---|---|
| · · Three Months Ended September 30, 2026 | ||||||
| | | Real Estateand Other | | TerminationBenefits | | Total |
| Home Office | | $100 | $63 | $163 | ||
| Total | | $100 | | $63 | | $163 |
| · · · · · · · · · | ||||||||
|---|---|---|---|---|---|---|---|---|
| · · Three Months Ended September 30, 2025 | ||||||||
| · · Real Estateand Other · · TerminationBenefits · · Total | ||||||||
| Medical and Veterinary | | $44 | $— | $44 | ||||
| Home Office | | | 145 | | 121 | | 266 | |
| Total | | $189 | | $121 | | $310 | ||
The following table summarizes the separation and restructuring plan activity for fiscal years 2026 and 2027, for which cash payments are required (in thousands):
| | | | |
|---|---|---|---|
| Liability balance as of June 30, 2025 | | $— | |
| Increase in liability (termination and other charges) | | | 5,592 |
| Reduction in liability (payments and adjustments) | | | (4,068) |
| Liability balance as of June 30, 2026 | | | 1,524 |
| Increase in liability (termination and other charges) | | | 63 |
| Reduction in liability (payments and adjustments) | | | (1,356) |
| Liability balance as of September 30, 2026 | | $231 |
These liability balances are recorded within accrued liabilities on the Consolidated Balance Sheets.
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