FIGS, Inc.

Previous wording

At June 30, 2026, we had approximately 3.1 million active customers. Our customers come to us through word of mouth referrals, as well as through our data-driven brand and performance marketing efforts. See the section titled “Key Operating Metrics and Non-GAAP Financial Measures” for a definition of active customers.

Current wording

At September 30, 2026, we had approximately 3.2 million active customers. Our customers come to us through word of mouth referrals, as well as through our data-driven brand and performance marketing efforts. See the section titled “Key Operating Metrics and Non-GAAP Financial Measures” for a definition of active customers.

Previous wording

In the three and six months ended June 30, 2026, we had the following results compared to the comparable period in 2025:

Current wording

In the three and nine months ended September 30, 2026, we had the following results compared to the comparable period in 2025:

Previous wording

◦Expanded our community of active customers by 13.2% from approximately 2.7 million at June 30, 2025 to approximately 3.1 million at June 30, 2026;

Current wording

◦Expanded our community of active customers by 14.3% from approximately 2.8 million at September 30, 2025 to approximately 3.2 million at September 30, 2026;

Previous wording

◦Net income increased from $7.1 million to $28.4 million in the three months ended June 30, 2026, and increased from $7.0 million to $34.7 million in the six months ended June 30, 2026;

Current wording

◦Net income increased from $8.7 million to $19.3 million in the three months ended September 30, 2026, and increased from $15.7 million to $53.9 million in the nine months ended September 30, 2026;

Previous wording

◦Net income margin increased from 4.7% to 14.4% in the three months ended June 30, 2026, and increased from 2.5% to 9.7% in the six months ended June 30, 2026;

Current wording

◦Net income margin increased from 5.8% to 10.1% in the three months ended September 30, 2026, and increased from 3.7% to 9.9% in the nine months ended September 30, 2026;

Previous wording

◦Adjusted EBITDA increased from $19.7 million to $36.6 million in the three months ended June 30, 2026, and increased from $28.9 million to $50.5 million in the six months ended June 30, 2026, representing an adjusted EBITDA margin of 18.6% and 14.2%, respectively;

Current wording

◦Adjusted EBITDA increased from $18.9 million to $31.5 million in the three months ended September 30, 2026, and increased from $47.8 million to $82.0 million in the nine months ended September 30, 2026, representing an adjusted EBITDA margin of 16.5% and 15.0%, respectively;

Previous wording

◦Cash flows from operating activities increased from $(3.2) million to $43.7 million in the six months ended June 30, 2026; and

Current wording

◦Cash flows from operating activities increased from $0.2 million to $100.5 million in the nine months ended September 30, 2026; and

Previous wording

◦Free cash flow increased from $(5.6) million to $38.6 million in the six months ended June 30, 2026.

Current wording

◦Free cash flow increased from $(5.1) million to $89.8 million in the nine months ended September 30, 2026.

Previous wording

We continue to monitor changes in policy impacting global trade, including tariffs, which have been dynamic, unpredictable and subject to ongoing modification. In February 2026, the United States Supreme Court ruled that the use of the International Emergency Economic Powers Act (“IEEPA”) to impose tariffs was not permitted, invalidating a significant portion of U.S. tariffs that had been in effect since April 2025. The Administration responded by invoking a 10.0% global tariff pursuant to Section 122 of the Trade Act of 1974 (the “Trade Act”), effective on February 24, 2026, which expired on July 24, 2026. On July 23, 2026, the Administration imposed new tariffs ranging from 10.0%-12.5% pursuant to Section 301 of the Trade Act, effective July 24, 2026. These tariffs are intended to replace the Section 122 tariffs and affect imports from approximately 60 countries and territories, including those where our suppliers are located. The ruling and the Administration’s subsequent actions have created substantial uncertainty regarding the tariff environment, including with respect to (i) the scope and duration of the new tariffs imposed under Section 301 and any new or higher tariffs that may be imposed and (ii) the outcome of pending legal challenges to the Section 122 tariffs and the potential for further legal challenges to those, the Section 301 tariffs and any future tariffs.

Current wording

We continue to monitor changes in policy impacting global trade which have been dynamic, unpredictable and subject to ongoing modification. In February 2026, the United States Supreme Court ruled that the use of the International Emergency Economic Powers Act (“IEEPA”) to impose tariffs was not permitted, invalidating a significant portion of U.S. tariffs that had been in effect since early 2025. The Administration responded by invoking a 10.0% global tariff pursuant to Section 122 of the Trade Act of 1974 (the “Trade Act”), effective on February 24, 2026, which expired on July 24, 2026, and new tariffs ranging from 10.0% to 12.5% pursuant to Section 301 of the Trade Act, effective July 24, 2026. These new tariffs affect imports from approximately 60 countries and territories, including those where our suppliers are located. The ruling and the Administration’s subsequent actions have created substantial uncertainty, including with respect to (i) the scope and duration of the new tariffs imposed under Section 301 and any new or higher tariffs that may be imposed and (ii) the outcome of pending legal challenges to the Section 122 and Section 301 tariffs and the potential for further legal challenges to those and any future tariffs.

Previous wording

Tariffs have increased our product costs, negatively impacting gross margin for the three months ended June 30, 2026. We have implemented, and plan to continue to implement as needed, various mitigation strategies, which have included, and may in the future again include, adjusting the countries from which we source our products and renegotiating terms with suppliers, but we cannot be certain how effective they will be over the long term. Without taking into account mitigation efforts and based on the information available to us today, we believe that tariffs will continue to negatively impact gross margin for 2026, although to a lesser extent than we previously disclosed in our 2025 Annual Report on Form 10-K. This estimate and actual impact may change materially as conditions evolve and new information becomes available.

Current wording

Tariffs have increased our product costs. We have implemented, and plan to continue to implement as needed, various mitigation strategies, which have included, and may in the future again include, adjusting the countries from which we source our products and renegotiating terms with suppliers, but we cannot be certain how effective they will be over the long term. Without taking into account mitigation efforts and based on the information available to us as of the date of this Quarterly Report on Form 10-Q, we believe that tariffs will continue to negatively impact our costs for 2026, although to a lesser extent than we previously anticipated in our 2025 Annual Report on Form 10-K. This expectation and actual impact may change materially as conditions evolve and new information becomes available.

Previous wording

On June 23, 2026, CBP issued a withhold release order (“WRO”) against certain garments produced by our Jordanian manufacturing partner. That manufacturer accounted for approximately one-third of our finished goods production during the three months ended June 30, 2026. As a result of the WRO, our products produced by this partner may not currently be imported into the United States, and we may ultimately be unable or choose not to sell recently finished product from this partner. We have instituted various strategies to mitigate the impact of the WRO, including transitioning raw materials and future production to our other manufacturing partners. Overall, we expect the WRO will adversely impact our net revenues, gross margin and inventory levels in the second half of 2026. See Item 1A. “Risk Factors—Risks Related to Our Business—Our reliance on a limited number of third-party suppliers to provide materials for and produce our products could cause problems in our supply chain and subject us to additional risks” and “—Our ability to source and distribute our products, including our ability to do so profitably, is impacted by global trade policy.”

Current wording

On June 23, 2026, CBP issued a withhold release order (“WRO”) against certain garments produced by our Jordanian manufacturing partner, which prevents those products from being imported into the United States. We have transitioned production from this partner to our other manufacturing partners. The WRO adversely impacted net revenues, costs and inventory levels for the three months ended September 30, 2026, and we expect the WRO will continue to adversely impact net revenues, costs and inventory levels for at least the remainder of the year ending December 31, 2026. See Part II, Item 1A.“Risk Factors—Risks Related to Our Business—Our reliance on a limited number of third-party suppliers to provide materials for and produce our products could cause problems in our supply chain and subject us to additional risks” and “—Our ability to source and distribute our products, including our ability to do so profitably, is impacted by global trade policy.”

Previous wording

(1)Includes stock-based compensation expense of $6.7 million and $7.6 million for the three months ended June 30, 2026 and 2025, respectively.

Current wording

(1)Includes stock-based compensation expense of $6.9 million and $6.8 million for the three months ended September 30, 2026 and 2025, respectively.

Previous wording

Net revenues increased by $44.0 million, or 28.8%, for the three months ended June 30, 2026, compared to the prior year period. The increase in net revenues was primarily driven by an increase in orders and higher AOV.

Current wording

Net revenues increased by $39.0 million, or 25.7%, for the three months ended September 30, 2026, compared to the prior year period. The increase in net revenues was primarily driven by an increase in orders and higher AOV.

Previous wording

Gross profit increased by $69.4 million, or 37.2%, for the six months ended June 30, 2026, compared to the prior year period. The increase in gross profit was primarily due to higher unit sales, IEEPA tariff refunds and positive impact from price increases, partially offset by tariffs.

Current wording

Gross profit increased by $26.0 million, or 24.5%, for the three months ended September 30, 2026, compared to the prior year period. The increase in gross profit was primarily due to higher unit sales, positive impacts from price increases and ongoing efficiency efforts, partially offset by outsized improvements in returns processing in the prior year and higher inventory reserves.

Previous wording

Gross margin increased 4.5 percentage points for the six months ended June 30, 2026, compared to the prior year period. The increase in gross margin was primarily due to IEEPA tariff refunds, positive impacts from price increases and ongoing efficiency efforts, largely offset by tariffs.

Current wording

Gross margin decreased 0.6 percentage points for the three months ended September 30, 2026, compared to the prior year period. The decrease in gross margin was primarily due to outsized improvements in returns processing in the prior year and higher inventory reserves, partially offset by positive impacts from price increases and ongoing efficiency efforts.

Previous wording

Operating expenses increased by $20.3 million, or 21.9%, for the three months ended June 30, 2026, compared to the prior year period, driven by higher selling expense, general and administrative expense, and marketing expense. As a percentage of net revenues, operating expenses decreased by 3.2 percentage points, primarily driven by leverage on higher net revenues in general and administrative expense, marketing expense and selling expense.

Current wording

Operating expenses increased by $13.4 million, or 13.9%, for the three months ended September 30, 2026, compared to the prior year period, driven by higher selling expense, general and administrative and marketing expense. As a percentage of net revenues, operating expenses decreased by 6.0 percentage points, primarily driven by leverage on higher net revenues in general and administrative expense, marketing expense and selling expense.

Previous wording

Selling expense increased by $9.3 million, or 26.9%, for the three months ended June 30, 2026, compared to the prior year period and, as a percentage of net revenues, decreased by 0.4 percentage points. The decrease in selling expense as a percentage of net revenues was primarily due to leverage on higher net revenues and favorable shipping rates.

Current wording

Selling expense increased by $8.6 million, or 23.9%, for the three months ended September 30, 2026, compared to the prior year period and, as a percentage of net revenues, decreased by 0.3 percentage points. The decrease in selling expense as a percentage of net revenues was primarily due to leverage on higher net revenues and favorable shipping rates, partially offset by ongoing fuel pressures, supplier transition costs and international mix impact.

Previous wording

Marketing expense increased by $5.4 million, or 23.2%, for the three months ended June 30, 2026, compared to the prior year period and, as a percentage of net revenues, decreased by 0.7 percentage points. The decrease in marketing expense as a percentage of net revenues was primarily due to leverage on higher net revenues and digital marketing efficiency.

Current wording

Marketing expense increased by $2.0 million, or 8.6%, for the three months ended September 30, 2026, compared to the prior year period and, as a percentage of net revenues, decreased by 2.1 percentage points. The decrease in marketing expense as a percentage of net revenues was primarily due to leverage on higher net revenues and digital marketing efficiency.

Previous wording

General and administrative expense increased by $9.7 million, or 14.1%, for the six months ended June 30, 2026, compared to the prior year period and, as a percentage of net revenues, decreased by 2.7 percentage points. The decrease in general and administrative expense as a percentage of net revenues was primarily due to leverage on higher net revenues and lower stock-based compensation expense.

Current wording

General and administrative expense increased by $2.9 million, or 7.7%, for the three months ended September 30, 2026, compared to the prior year period and, as a percentage of net revenues, decreased by 3.5 percentage points. The decrease in general and administrative expense as a percentage of net revenues was primarily due to leverage on higher net revenues, partially offset by increased investment in people.

Previous wording

Provision for income taxes increased by $3.6 million, or 72.4%, for the three months ended June 30, 2026, compared to the prior year period, primarily due to an increase in pretax book income.

Current wording

Provision for income taxes increased by $2.1 million, or 64.2%, for the three months ended September 30, 2026, compared to the prior year period, primarily due to an increase in pretax book income.

Previous wording

(1)Includes stock-based compensation expense of $12.2 million and $14.9 million for the six months ended June 30, 2026 and 2025, respectively.

Current wording

(1)Includes stock-based compensation expense of $19.1 million and $21.7 million for the nine months ended September 30, 2026 and 2025, respectively.

Previous wording

Net revenues increased by $79.0 million, or 28.5%, for the six months ended June 30, 2026, compared to the prior year period. The increase in net revenues was primarily driven by an increase in orders and higher AOV.

Current wording

Net revenues increased by $118.0 million, or 27.5%, for the nine months ended September 30, 2026, compared to the prior year period. The increase in net revenues was primarily driven by an increase in orders and higher AOV.

Previous wording

Gross profit increased by $45.6 million, or 44.6%, for the three months ended June 30, 2026, compared to the prior year period. The increase in gross profit was primarily due to IEEPA tariff refunds, higher unit sales, and positive impact from price increases, partially offset by tariffs.

Current wording

Gross profit increased by $95.5 million, or 32.6%, for the nine months ended September 30, 2026, compared to the prior year period. The increase in gross profit was primarily due to higher unit sales, IEEPA tariff refunds and positive impacts from price increases, partially offset by tariffs and inventory reserves.

Previous wording

Gross margin increased 8.2 percentage points for the three months ended June 30, 2026, compared to the prior year period. The increase in gross margin was primarily due to IEEPA tariff refunds, positive impacts from price increases and ongoing efficiency efforts, partially offset by tariffs.

Current wording

Gross margin increased 2.7 percentage points for the nine months ended September 30, 2026, compared to the prior year period. The increase in gross margin was primarily due to IEEPA tariff refunds, positive impacts from price increases and ongoing efficiency efforts, partially offset by tariffs and inventory reserves.

Previous wording

Operating expenses increased by $39.4 million, or 22.3%, for the six months ended June 30, 2026, compared to the prior year period, driven by higher marketing expense, selling expense, and general and administrative expense. As a percentage of net revenues, operating expenses decreased by 3.1 percentage points, primarily due to leverage on higher net revenues in general and administrative expense and selling expense, partially offset by an increase in marketing expense.

Current wording

Operating expenses increased by $52.8 million, or 19.3%, for the nine months ended September 30, 2026, compared to the prior year period, driven by higher selling expense, marketing expense and general and administrative expense. As a percentage of net revenues, operating expenses decreased by 4.1 percentage points, primarily due to leverage on higher net revenues in general and administrative expense and selling expense, partially offset by an increase in marketing expense.

Previous wording

Selling expense increased by $13.0 million, or 19.4%, for the six months ended June 30, 2026, compared to the prior year period and, as a percentage of net revenues, decreased by 1.7 percentage points. The decrease in selling expense as a percentage of net revenues was primarily due to leverage on higher net revenues, favorable shipping rates and lower fulfillment expense due to fulfillment center optimization.

Current wording

Selling expense increased by $21.6 million, or 21.0%, for the nine months ended September 30, 2026, compared to the prior year period and, as a percentage of net revenues, decreased by 1.2 percentage points. The decrease in selling expense as a percentage of net revenues was primarily due to leverage on higher net revenues, favorable shipping rates and lower fulfillment expense due to fulfillment center optimization, partially offset by supplier transition costs.

Previous wording

Marketing expense increased by $16.7 million, or 40.4%, for the six months ended June 30, 2026, compared to the prior year period and, as a percentage of net revenues, increased by 1.4 percentage points. The increase in marketing expense as a percentage of net revenues was primarily due to our 2026 Winter Olympics campaign, partially offset by leverage on higher net revenues, and revenue efficiency on digital marketing spend.

Current wording

Marketing expense increased by $18.7 million, or 28.9%, for the nine months ended September 30, 2026, compared to the prior year period and, as a percentage of net revenues, increased by 0.2 percentage points. The increase in marketing expense as a percentage of net revenues was primarily due to our 2026 Winter Olympics campaign, partially offset by leverage on higher net revenues, and digital marketing efficiency.

Previous wording

General and administrative expense increased by $5.6 million, or 16.2%, for the three months ended June 30, 2026, compared to the prior year period and, as a percentage of net revenues, decreased by 2.3 percentage points. The decrease in general and administrative expense as a percentage of net revenues was primarily due to leverage on higher net revenues and lower stock-based compensation expense.

Current wording

General and administrative expense increased by $12.6 million, or 11.9%, for the nine months ended September 30, 2026, compared to the prior year period and, as a percentage of net revenues, decreased by 3.0 percentage points. The decrease in general and administrative expense as a percentage of net revenues was primarily due to leverage on higher net revenues and lower stock-based compensation expense.

Previous wording

Other income, net decreased for the three months ended June 30, 2026, compared to the prior year period, primarily due to foreign exchange loss.

Current wording

Other income, net decreased for the nine months ended September 30, 2026, compared to the prior year period, primarily due to foreign exchange loss.

Previous wording

Provision for income taxes increased by $1.8 million, or 25.5%, for the six months ended June 30, 2026, compared to the prior year period, primarily due to an increase in pretax book income.

Current wording

Provision for income taxes increased by $3.8 million, or 37.8%, for the nine months ended September 30, 2026, compared to the prior year period, primarily due to an increase in pretax book income.

Previous wording

We define AOV as the sum of the total net revenues in a given period divided by the total orders placed in that period. Total orders are the summation of all completed individual purchase transactions in a given period. We believe our relatively high AOV demonstrates the premium nature of our product. As we expand into and increase our presence in additional product categories, price points and international markets, AOV may fluctuate. AOV for the three and six months ended June 30, 2026 and 2025, respectively, are presented in the following table:

Current wording

We define AOV as the sum of the total net revenues in a given period divided by the total orders placed in that period. Total orders are the summation of all completed individual purchase transactions in a given period. We believe our relatively high AOV demonstrates the premium nature of our product. As we expand into and increase our presence in additional product categories, price points and international markets, AOV may fluctuate. AOV for the three and nine months ended September 30, 2026 and 2025, respectively, are presented in the following table:

Previous wording

(4)For the six months ended June 30, 2025, reflects $171,000 of stock-based compensation expense and payroll taxes inadvertently not reflected in our previously disclosed Adjusted EBITDA results for the three months ended March 31, 2025.

Current wording

(4)For the nine months ended September 30, 2025, reflects $171,000 of stock-based compensation expense and payroll taxes inadvertently not reflected in our previously disclosed Adjusted EBITDA results for the three months ended March 31, 2025.

Previous wording

The following table presents a reconciliation of free cash flow to net cash (used in) provided by operating activities, which is the most directly comparable financial measure calculated in accordance with GAAP.

Current wording

The following table presents a reconciliation of free cash flow to net cash provided by operating activities, which is the most directly comparable financial measure calculated in accordance with GAAP.

Previous wording

As of June 30, 2026 and December 31, 2025, we had $108.5 million and $82.0 million of cash and cash equivalents, respectively. Since inception, we have financed operations primarily through cash flows from operating activities and the sale of our capital stock.

Current wording

As of September 30, 2026 and December 31, 2025, we had $76.5 million and $82.0 million of cash and cash equivalents, respectively. Since inception, we have financed operations primarily through cash flows from operating activities and the sale of our capital stock.

Previous wording

In September 2021, we entered into a credit agreement with Bank of America, N.A. (as amended from time to time, the “Credit Agreement”) providing for a revolving credit facility in an amount of up to $100.0 million (as amended, the “2021 Facility”). On November 3, 2025, we entered into a second amendment to the Credit Agreement, which, among other things, extends the maturity date of the 2021 Facility from September 7, 2026 to November 3, 2030 and reduces the annual commitment fee to 0.15% of the unused Revolving Facility (as defined in the Credit Agreement). As of June 30, 2026, we had no outstanding borrowings under the 2021 Facility (other than $8.4 million of outstanding letters of credit) and available borrowings of $91.6 million.

Current wording

In September 2021, we entered into a credit agreement with Bank of America, N.A. (as amended from time to time, the “Credit Agreement”) providing for a revolving credit facility in an amount of up to $100.0 million (as amended, the “2021 Facility”). On November 3, 2025, we entered into a second amendment to the Credit Agreement, which, among other things, extends the maturity date of the 2021 Facility from September 7, 2026 to November 3, 2030 and reduces the annual commitment fee to 0.15% of the unused Revolving Facility (as defined in the Credit Agreement). As of September 30, 2026, we had no outstanding borrowings under the 2021 Facility (other than $7.6 million of outstanding letters of credit) and available borrowings of $92.4 million.

Previous wording

In August 2024, our board of directors authorized a share repurchase program for up to $50.0 million of our outstanding Class A common stock, with no expiration date. On February 27, 2025, our board of directors authorized an increase of $50.0 million to the share repurchase program, bringing the total authorization for repurchases under the program as of that date to up to $100.0 million of our outstanding Class A common stock. During the three months ended June 30, 2026, we repurchased 2,009,381 shares of our Class A common stock for approximately $24.0 million. During the six months ended June 30, 2026, we repurchased 2,580,973 shares of our Class A common stock for approximately $32.8 million. As of June 30, 2026, we had approximately $19.2 million available for future repurchases under the share repurchase program.

Current wording

In August 2024, our board of directors authorized a share repurchase program for up to $50.0 million of our outstanding Class A common stock, with no expiration date. On February 27, 2025, our board of directors authorized an increase of $50.0 million to the share repurchase program, and on August 6, 2026, our board of directors authorized an additional increase of $100.0 million to the share repurchase program, bringing the total authorization for repurchases under the program to up to $200.0 million of our outstanding Class A common stock. During the three months ended September 30, 2026, we repurchased 985,622 shares of our Class A common stock for approximately $13.8 million. During the nine months ended September 30, 2026, we repurchased 3,566,595 shares of our Class A common stock for approximately $46.6 million. As of September 30, 2026, we had approximately $105.3 million available for future repurchases under the share repurchase program.

Previous wording

Cash flows from operating activities increased by $46.8 million for the six months ended June 30, 2026, compared to the same period last year. The increase was due to the timing of cash payments for accrued expenses of $38.6 million, an increase in our net income including the impact of non-cash adjustments of $28.6 million, and lower inventory purchases of $28.2 million. The increase in our net income includes a benefit to cost of goods sold from IEEPA tariff refunds. The increase was partially offset by the timing of cash payments of accounts payable of $18.7 million, IEEPA tariff refund receivable of $16.0 million, the timing of cash payments of accrued compensation and benefits of $8.3 million, and the timing of cash payments of prepaid expenses and other current assets of $4.7 million.

Current wording

Cash flows from operating activities increased by $100.3 million for the nine months ended September 30, 2026, compared to the same period last year. The increase was due to lower inventory purchases of $42.1 million, an increase in our net income including the impact of non-cash adjustments of $40.9 million, the timing of cash payments for accrued expenses of $29.0 million, and the timing of cash receipts of accounts receivable of $2.3 million. The increase in our net income includes a benefit to cost of goods sold from IEEPA tariff refunds. The increase was partially offset by the timing of cash payments of accrued compensation and benefits of $9.4 million and the timing of cash payments related to deferred revenue of $4.3 million.

Previous wording

Cash flows from investing activities increased by $53.8 million for the six months ended June 30, 2026, compared to the same period last year. The increase in cash flows from investing activities was primarily due to higher maturities and sales of available-for-sale securities of $91.8 million. This was offset by higher purchases of available-for-sale securities of $34.1 million, and higher purchases of property and equipment of $2.6 million.

Current wording

Cash flows from investing activities decreased by $9.2 million for the nine months ended September 30, 2026, compared to the same period last year. The decrease in cash flows from investing activities was primarily due to higher purchases of available-for-sale securities of $69.3 million, and higher purchases of property and equipment of $5.4 million. This was partially offset by higher maturities and sales of available-for-sale securities of $66.7 million.

Previous wording

Cash flows from financing activities decreased by $39.2 million as compared to the same period last year. The decrease in financing cash flows was primarily due to an increase in repurchases of Class A common stock of $30.1 million. In addition, cash flows from financing activities decreased due to payments for taxes related to the net share settlement of equity awards of $9.8 million, with no comparable activity in the prior year.

Current wording

Cash flows from financing activities decreased by $57.4 million as compared to the same period last year. The decrease in financing cash flows was primarily due to an increase in repurchases of Class A common stock of $44.0 million. In addition, cash flows from financing activities decreased due to payments for taxes related to the net share settlement of equity awards of $13.5 million, with no comparable activity in the prior year.

Previous wording

Refer to Note 10 to our condensed consolidated financial statements appearing elsewhere in this Quarterly Report on Form 10-Q for any commitments entered into during the three and six months ended June 30, 2026.

Current wording

Refer to Note 10 to our condensed consolidated financial statements appearing elsewhere in this Quarterly Report on Form 10-Q for any commitments entered into during the three and nine months ended September 30, 2026.