Alliance Laundry Holdings Inc.

Previous wording

Net revenues for the three months ended June 30, 2026 increased $29.6 million, or 6.6%, to $476.8 million from $447.2 million for the three months ended June 30, 2025. The increase in net revenues reflects a combination of price increases and volume growth, with price contributing approximately half of the increase. Equipment revenue increased $28.8 million, or 7.6%, year over year, primarily driven by volume growth and price increases. Service parts revenue increased $0.3 million, or 0.7%, year over year primarily driven by price increases. Equipment financing revenue increased $0.1 million, or 1.0% year over year driven by an increase in interest income due to growth in the loan base, partially offset by a decrease in variable loan rates tied to the prime rate.

Current wording

Net revenues for the three months ended September 30, 2026 increased $23.3 million, or 5.3%, to $460.9 million from $437.6 million for the three months ended September 30, 2025. The increase in net revenues reflects a combination of price increases, volume growth and mix, with price contributing approximately half of the increase. Growth in North America was partially offset by lower International revenue, which was also unfavorably impacted by foreign currency fluctuation of approximately 1%. Equipment revenue increased $19.3 million, or 5.2%, year over year, primarily driven by volume growth and price increases. Service parts revenue increased $2.8 million, or 6.3%, year over year primarily driven by price increases. Equipment financing revenue increased $0.4 million, or 3.4%, year over year, driven by an increase in interest income due to growth in the loan base, partially offset by a decrease in variable loan rates tied to the prime rate.

Previous wording

Gross profit for the three months ended June 30, 2026 increased $15.7 million, or 9.0%, to $189.9 million from $174.2 million for the three months ended June 30, 2025. Gross profit as a percentage of net revenues was 39.8% for the three months ended June 30, 2026, as compared to 39.0% for the three months ended June 30, 2025. The increase in gross profit as a percentage of revenue was primarily driven by favorable production volume cost absorption, cost reduction initiatives and $3.8 million of insurance proceeds and tariff refunds, which favorably impacted gross margin in the current period.

Current wording

Gross profit for the three months ended September 30, 2026 increased $19.6 million, or 12.1%, to $181.6 million from $162.0 million for the three months ended September 30, 2025. Gross profit as a percentage of net revenues was 39.4% for the three months ended September 30, 2026, as compared to 37.0% for the three months ended September 30, 2025. The increase in gross profit as a percentage of revenue was primarily driven by favorable production volume cost absorption, cost reduction initiatives, pricing actions already in place and $5.3 million of tariff refunds, which favorably impacted gross margin in the current period. These benefits mitigated ongoing inflationary cost pressures, led by steel and freight. Our local-for-local manufacturing footprint continues to provide a structural advantage, particularly given the current tariff environment.

Previous wording

Selling, general, and administrative expenses for the three months ended June 30, 2026 increased $3.9 million to $84.2 million from $80.3 million for the three months ended June 30, 2025. Selling, general, and administrative expenses as a percentage of net revenues was 17.7% for the three months ended June 30, 2026 as compared to 18.0% for the three months ended June 30, 2025. Included within Selling, general, and administrative expenses is $9.8 million and $11.2 million of non-cash depreciation and amortization related to the fair value step-up of assets recorded under purchase accounting from a prior business combination for the three months ended June 30, 2026 and 2025, respectively. The increase in Selling, general and administrative expenses is primarily due to increased administrative costs related to public company support costs, partially offset by a favorable impact from foreign exchange movements.

Current wording

Selling, general, and administrative expenses for the three months ended September 30, 2026 increased $5.3 million to $81.8 million from $76.5 million for the three months ended September 30, 2025. Selling, general, and administrative expenses as a percentage of net revenues was 17.7% for the three months ended September 30, 2026 as compared to 17.5% for the three months ended September 30, 2025. Included within Selling, general, and administrative expenses is $9.7 million and $11.1 million of non-cash depreciation and amortization related to the fair value step-up of assets recorded under purchase accounting from a prior business combination for the three months ended September 30, 2026 and 2025, respectively. The increase in Selling, general, and administrative expenses is primarily due to increased administrative costs related to public company support costs, partially offset by a favorable impact from foreign exchange movements.

Previous wording

Interest expense, net for the six months ended June 30, 2026 decreased $48.6 million to $35.7 million from $84.3 million for the six months ended June 30, 2025. The decrease in interest expense was primarily attributable to a lower debt balance resulting from Term Loan voluntary prepayments, as discussed in Note 11 - Debt, and a lower interest rate on the Term Loan following refinancing activities in August 2025. Additionally, the decrease reflects a favorable change in the fair value of our interest rate swaps.

Current wording

Interest expense, net for the three months ended September 30, 2026 decreased $20.4 million to $16.6 million from $37.0 million for the three months ended September 30, 2025. The decrease in interest expense was primarily attributable to a lower debt balance resulting from Term Loan voluntary prepayments, as discussed in Note 12 - Debt, and a lower interest rate on the Term Loan following refinancing activities in August 2025 and a reduction in the Term Loan margin from SOFR plus 2.25% to SOFR plus 2.00% effective June 30, 2026, following Moody’s Ratings’ upgrade of the Company’s credit rating from B2 to B1 in June 2026. Additionally, the decrease reflects a favorable change in the fair value of our interest rate swaps resulting in a positive non-cash mark-to-market impact of $3.2 million for the three months ended September 30, 2026, compared to an unfavorable impact of $0.8 million for the three months ended September 30, 2025.

Previous wording

Other expenses, net for the three months ended June 30, 2026 was less than $0.1 million, compared to $13.8 million for the three months ended June 30, 2025. The expense in the prior year period was driven by $13.8 million of foreign exchange losses on intercompany loans where the lender or borrower’s functional currency differs from the loan denomination currency. In contrast, the current period included a de minimis foreign exchange loss on intercompany loans.

Current wording

Other (income)/expenses, net for the three months ended September 30, 2026 was income of $2.7 million, compared to expense of $5.6 million for the three months ended September 30, 2025. The expense in the prior year period was driven by $3.2 million of foreign exchange losses on intercompany loans where the lender or borrower’s functional currency differs from the loan denomination currency and $2.4 million of debt issuance costs. In contrast, the current period included a $2.7 million foreign exchange gain on intercompany loans.

Previous wording

The effective income tax rate was a 21.8% provision for the three months ended June 30, 2026 as compared to a 23.7% provision for the three months ended June 30, 2025. The decrease is primarily due to the benefit of deductibility for exercises of stock options, partially offset by limitations of deductibility of officer compensation subsequent to the IPO in the prior year period.

Current wording

The effective income tax rate was 24.2% for the three months ended September 30, 2026 as compared to 23.4% for the three months ended September 30, 2025. The increase is primarily due to lower tax benefits from stock option exercises compared to the prior-year period.

Previous wording

EBITDA as, on a segment basis, net income excluding interest income/expense, income taxes, depreciation and amortization. Segment Adjusted EBITDA is also adjusted for the discrete items that management excluded in analyzing the segments’ operating performance, such as refinancing and debt related costs, share-based compensation, strategic transaction costs, foreign exchange on intercompany loans and other non-recurring items which management believes are not indicative of the Company’s ongoing operating performance. Segment Adjusted EBITDA is a measure of operating performance of our reportable segments and may not be comparable to similar measures reported by other companies. See Note 15 - Segment Information to our interim condensed consolidated financial statements included in this Quarterly Report.

Current wording

Segment Adjusted EBITDA is a performance metric utilized by the Company’s Chief Operating Decision Maker to allocate resources on a segment basis. We define Segment Adjusted EBITDA as, on a segment basis, net income excluding interest income/expense, income taxes, depreciation and amortization. Segment Adjusted EBITDA is also adjusted for the discrete items that management excluded in analyzing the segments’ operating performance, such as refinancing and debt related costs, stock-based compensation, strategic transaction costs, foreign exchange on intercompany loans and other non-recurring items which management believes are not indicative of the Company’s ongoing operating performance. Segment Adjusted EBITDA is a measure of operating performance of our reportable segments and may not be comparable to similar measures reported by other companies. See Note 17 - Segment Information to our interim condensed consolidated financial statements included in this Quarterly Report.

Previous wording

Revenue in North America increased $30.2 million or 9.2% to $359.3 million for the three months ended June 30, 2026 compared to the three months ended June 30, 2025. Equipment revenue increased $28.0 million, or 10.2%, mainly driven by strong demand across all end markets, with particularly strong performance in the Commercial In-Home end market (an increase of 19%). Service parts revenue increased $1.2 million, or 3.7%, primarily driven by price increases offsetting inflationary increases. Other revenues and Equipment financing revenue remained relatively flat year over year.

Current wording

Net revenues in North America increased $24.8 million, or 7.5%, to $355.6 million for the three months ended September 30, 2026 compared to the three months ended September 30, 2025. Equipment revenue increased $20.8 million, or 7.5%. Growth was led by an increase in the Commercial In-Home end market (an increase of 14%) and a high single-digit increase in On-Premise Laundry, both driven by higher volume, with On-Premise Laundry reflecting steady, replacement-driven demand. Service parts revenue increased $2.3 million, or 7.0%, primarily driven by unit volume and by price increases offsetting inflationary increases. Other revenues increased $1.3 million, or

Previous wording

Adjusted EBITDA increased $16.8 million or 17.4% to $113.6 million for the three months ended June 30, 2026 compared to the three months ended June 30, 2025 and Adjusted EBITDA Margin increased to 31.6% for the three months ended June 30, 2026 compared to 29.4% for the three months ended June 30, 2025. The increase in adjusted EBITDA margin is driven by broad-based growth across all end markets, supported by demand mix shift toward larger-capacity machines in the Vended market. Additionally, the adjusted EBITDA margin was impacted by $3.8 million of insurance proceeds and tariff refunds, which favorably impacted EBITDA margin in the current period.

Current wording

Adjusted EBITDA increased $19.8 million, or 20.7%, to $115.2 million for the three months ended September 30, 2026 compared to the three months ended September 30, 2025 and Adjusted EBITDA margin increased to 32.4% for the three months ended September 30, 2026 compared to 28.9% for the three months ended September 30, 2025. The increase in Adjusted EBITDA margin is driven by growth in the Commercial In-Home and On-Premise Laundry end markets. Additionally, Adjusted EBITDA margin was impacted by $5.3 million of tariff refunds, which favorably impacted EBITDA margin in the current period and helped offset significant cost pressures, led by steel and freight. Pricing actions taken late last year also helped offset inflation.

Previous wording

The following table sets forth our consolidated results of operations for the six months ended June 30, 2026 (in thousands):

Current wording

The following table sets forth our consolidated results of operations for the nine months ended September 30, 2026 (in thousands):

Previous wording

Net revenues for the six months ended June 30, 2026 increased $66.9 million, or 8.0%, to $903.6 million from $836.8 million for the six months ended June 30, 2025. Equipment revenue increased $64.3 million, or 9.1%, versus the prior year, due to volume and modest price increases in North America and modest price increases in International. Service parts revenue increased $2.2 million, or 2.6%, year over year primarily driven by volume growth and modest price increases. Other revenues decreased $0.1 million, or 0.5%. Equipment financing revenue increased $0.4 million, or 1.8% year over year driven by an increase in interest income due to growth of the loan base, partially offset by a decrease in variable loan rates tied to the prime rate.

Current wording

Net revenues for the nine months ended September 30, 2026 increased $90.2 million, or 7.1%, to $1,364.6 million from $1,274.4 million for the nine months ended September 30, 2025. Equipment revenue increased $83.7 million, or 7.8%, versus the prior year, due to volume and modest price increases in North America and modest price increases in International. Service parts revenue increased $5.0 million, or 3.8%, year over year primarily driven by volume growth and modest price increases. Other revenues increased $0.6 million, or 1.9%. Equipment financing revenue increased $0.9 million, or 2.4% year over year driven by an increase in interest income due to growth of the loan base, partially offset by a decrease in variable loan rates tied to the prime rate.

Previous wording

Gross profit for the six months ended June 30, 2026 increased $27.9 million, or 8.7%, to $347.1 million from $319.2 million for the six months ended June 30, 2025. Gross profit as a percentage of net revenues was 38.4% for the six months ended June 30, 2026 as compared to 38.1% for the six months ended June 30, 2025. The increase in gross profit as a percentage of revenue was primarily driven by favorable production volume cost absorption, cost reduction initiatives and modest price increases.

Current wording

Gross profit for the nine months ended September 30, 2026 increased $47.5 million, or 9.9%, to $528.7 million from $481.2 million for the nine months ended September 30, 2025. Gross profit as a percentage of net revenues was 38.7% for the nine months ended September 30, 2026 as compared to 37.8% for the nine months ended September 30, 2025. The increase in gross profit as a percentage of revenue was primarily driven by favorable production volume cost absorption, cost reduction initiatives, and modest price increases.

Previous wording

Selling, general, and administrative expenses for the six months ended June 30, 2026 increased $6.8 million to $157.6 million from $150.9 million for the six months ended June 30, 2025. Selling, general, and administrative expenses as a percentage of net revenues was 17.4% for the six months ended June 30, 2026 as compared to 18.0% for the six months ended June 30, 2025. Included within Selling, general, and administrative expenses is $19.5 million and $22.3 million of non-cash depreciation and amortization related to the fair value step-up of assets recorded under purchase accounting from a prior business combination for the six months ended June 30, 2026 and 2025, respectively. The increase in Selling, general and administrative expenses is primarily due to higher selling and promotional expenses driven by higher sales volume and increased administrative costs related to public company support costs, partially offset by a favorable impact from foreign exchange movements.

Current wording

Selling, general, and administrative expenses for the nine months ended September 30, 2026 increased $12.1 million to $239.4 million from $227.3 million for the nine months ended September 30, 2025. Selling, general, and administrative expenses as a percentage of net revenues was 17.5% for the nine months ended September 30, 2026 as compared to 17.8% for the nine months ended September 30, 2025. Included within Selling, general, and administrative expenses is $29.2 million and $33.3 million of non-cash depreciation and amortization related to the fair value step-up of assets recorded under purchase accounting from a prior business combination for the nine months ended September 30, 2026 and 2025, respectively. The increase in Selling, general, and administrative expenses is primarily due to higher selling and promotional expenses driven by higher sales volume and increased administrative costs related to public company support costs, partially offset by a favorable impact from foreign exchange movements.

Previous wording

Interest expense, net for the three months ended June 30, 2026 decreased $21.6 million to $17.8 million from $39.4 million for the three months ended June 30, 2025. The decrease in interest expense was primarily attributable to a lower debt balance resulting from Term Loan voluntary prepayments, as discussed in Note 11 - Debt, and a lower interest rate on the Term Loan following refinancing activities in August 2025. Additionally, the decrease reflects a favorable change in the fair value of our interest rate swaps.

Current wording

Interest expense, net for the nine months ended September 30, 2026 decreased $69.0 million to $52.3 million from $121.2 million for the nine months ended September 30, 2025. The decrease in interest expense was primarily attributable to a lower debt balance resulting from Term Loan voluntary prepayments, as discussed in Note 12 - Debt, and a lower interest rate on the Term Loan following refinancing activities in August 2025. Additionally, the decrease reflects a favorable change in the fair value of our interest rate swaps resulting in a positive non-cash mark-to-market impact of $10.6 million for the nine months ended September 30, 2026, compared to an unfavorable impact of $9.8 million for the nine months ended September 30, 2025.

Previous wording

Other (income)/expenses, net for the six months ended June 30, 2026 was income of $6.5 million compared to expenses of $20.9 million for the six months ended June 30, 2025. Other expenses, net for the six months ended June 30, 2026 included $6.5 million of foreign exchange gains on intercompany loans, net where the lender or borrower’s functional currency differs from the loan denomination currency. Other expenses, net for the six months ended June 30, 2025 included $19.9 million foreign exchange losses on intercompany loans, net and $1.1 million of debt issuance costs.

Current wording

Other (income)/expenses, net for the nine months ended September 30, 2026 was income of $9.2 million compared to expenses of $26.5 million for the nine months ended September 30, 2025. Other income, net for the nine months ended September 30, 2026 included $9.2 million of foreign exchange gains on intercompany loans, net where the lender or borrower’s functional currency differs from the loan denomination currency. Other expenses, net for the nine months ended September 30, 2025 included $23.0 million foreign exchange losses on intercompany loans, net and $3.5 million of debt issuance costs.

Previous wording

The effective income tax rate was 21.6% for the six months ended June 30, 2026 as compared to 23.6% for the six months ended June 30, 2025. The effective tax rate for the six months ended June 30, 2026 was impacted by the benefit of deductibility for exercises of stock options, partially offset by limitations of deductibility of officer compensation.

Current wording

The effective income tax rate was 22.5% for the nine months ended September 30, 2026 as compared to 23.5% for the nine months ended September 30, 2025. The effective tax rate for the nine months ended September 30, 2026 was impacted by the benefit of deductibility for exercises of stock options, partially offset by limitations of deductibility of officer compensation.

Previous wording

The following table presents the Company’s segment results for the six months ended June 30, 2026:

Current wording

The following table presents the Company’s segment results for the nine months ended September 30, 2026:

Previous wording

Revenue in North America increased $57.7 million or 9.3% to $679.1 million for the six months ended June 30, 2026 compared to the six months ended June 30, 2025. Equipment revenue increased $55.2 million, or 10.7%, mainly driven by strong demand across all end markets, with particularly strong performance in the Commercial In-Home end market (an increase of 21%). Service parts revenue increased $1.3 million, or 2.1%, primarily driven by volume growth and modest price increases. Other revenues and Equipment financing revenue remained relatively flat, having increased $0.6 million, or 3.1%, and $0.5 million, or 2.2%, respectively.

Current wording

Net revenues in North America increased $82.5 million, or 8.7%, to $1,034.7 million for the nine months ended September 30, 2026 compared to the nine months ended September 30, 2025. Equipment revenue increased $76.0 million, or 9.6%, mainly driven by strong demand across all end markets, with particularly strong performance in the Commercial In-Home end market (an increase of 19%). Service parts revenue increased $3.6 million, or 3.8%, primarily driven by volume growth and modest price increases. Other revenues increased $1.8 million, or 6.5%. Equipment financing revenue increased $1.0 million, or 2.7%, driven by an increase in interest income due to growth of the loan base.

Previous wording

Adjusted EBITDA increased $23.0 million or 12.9% to $200.6 million for the six months ended June 30, 2026 compared to the six months ended June 30, 2025 and Adjusted EBITDA Margin increased to 29.5% for the six months ended June 30, 2026 from 28.6% for the six months ended June 30, 2025. This increase was primarily driven by modest price increases and cost reduction initiatives.

Current wording

Adjusted EBITDA increased $42.8 million, or 15.7%, to $315.8 million for the nine months ended September 30, 2026 compared to the nine months ended September 30, 2025 and Adjusted EBITDA Margin increased to 30.5% for the nine months ended September 30, 2026 from 28.7% for the nine months ended September 30, 2025. This increase was primarily driven by modest price increases and cost reduction initiatives.

Previous wording

Revenue increased $9.2 million or 4.3% to $224.6 million for the six months ended June 30, 2026 compared to the six months ended June 30, 2025. Equipment revenue increased $9.1 million, or 4.8%, primarily due to strong performance in Europe (an increase of 9%). Service parts revenue increased $0.9 million, or 3.9%, primarily driven by volume growth.

Current wording

Net revenues increased $7.7 million, or 2.4%, to $329.9 million for the nine months ended September 30, 2026 compared to the nine months ended September 30, 2025. Equipment revenue increased $7.6 million, or 2.7%, primarily due to strong performance in Europe (an increase of 6%). Service parts revenue increased $1.4 million, or 4.0%, primarily driven by volume growth.

Previous wording

Adjusted EBITDA increased $0.8 million or 1.2% to $66.5 million for the six months ended June 30, 2026, compared to the six months ended June 30, 2025 and Adjusted EBITDA Margin decreased to 29.6% for the six months ended June 30, 2026 from 30.5% for the six months ended June 30, 2025. This decrease in margin was primarily driven by regional customer and product mix.

Current wording

Adjusted EBITDA increased $1.8 million, or 1.9%, to $93.1 million for the nine months ended September 30, 2026, compared to the nine months ended September 30, 2025 and Adjusted EBITDA Margin decreased to 28.2% for the nine months ended September 30, 2026 from 28.3% for the nine months ended September 30, 2025. This decrease in margin was primarily driven by regional customer and product mix.

Previous wording

Our principal sources of liquidity are cash on hand, cash flows generated from operations, and potential borrowings under our revolving credit facilities. We believe that our sources of liquidity will be adequate to meet our anticipated requirements for ongoing operations, capital expenditures, working capital, interest payments, scheduled principal payments, and other debt repayments over the next twelve months while remaining in compliance with the covenants of our debt agreements. We expect that capital expenditures in 2026 will be approximately$60.0 million. We have invested $13.9 million of cash into capital expenditures during the six months ended June 30, 2026.

Current wording

Our principal sources of liquidity are cash on hand, cash flows generated from operations, and potential borrowings under our revolving credit facilities. We believe that our sources of liquidity will be adequate to meet our anticipated requirements for ongoing operations, capital expenditures, working capital, interest payments, scheduled principal payments, and other debt repayments over the next twelve months while remaining in compliance with the covenants of our debt agreements. We expect that capital expenditures in 2026 will be approximately $60.0 million. We have invested $23.8 million of cash into capital expenditures during the nine months ended September 30, 2026.

Previous wording

Cash provided by operating activities for the six months ended June 30, 2026 of$146.1 million was primarily derived from net income adjusted for non-cash provisions, partially offset by a$19.8 million increase in working capital. The primary contributors to the change in working capital were a$57.6 million increase in accounts andequipment financing receivables heldfor securitization investors and an increase of$9.9 million in accounts and equipment financing receivables, partially offset by a$40.8 million increase in accounts payable and a decrease of$7.7 million in other assets.

Current wording

Cash provided by operating activities for the nine months ended September 30, 2026 of $230.2 million was primarily derived from net income adjusted for non-cash provisions, partially offset by a $24.6 million increase in working capital. The primary contributors to the change in working capital were a $86.2 million increase in accounts and equipment financing receivables held for securitization investors and an increase of $1.7 million in accounts and equipment financing receivables, partially offset by a $39.6 million increase in accounts payable, an increase of $10.9 million in other liabilities, and a decrease of $9.3 million in other assets and a decrease of $3.5 million in inventories, net.

Previous wording

Cash provided by operating activities for the six months ended June 30, 2025 of$50.7 millionwas primarily derived from net income adjusted for non-cash provisions, partially offset by a$67.4 million increase in working capital. The primary contributors to the change inworking capital were a$45.7 million increasein accounts and equipment financing receivables held for securitization investors, adecrease in other liabilities of$15.8 million, a$13.9 million increase in inventory, an increase in accounts receivable and equipment financing receivables of $11.4 million, and an increase of $4.2 million in other assets, partially offset by anincrease of $23.5 million in accounts payable.

Current wording

Cash provided by operating activities for the nine months ended September 30, 2025 of $116.8 million was primarily derived from net income adjusted for non-cash provisions, partially offset by a $73.8 million increase in working capital. The primary contributors to the change in working capital were a $56.2 million increase in accounts and equipment financing receivables held for securitization investors, a $14.9 million increase in inventory, a decrease in other liabilities of $5.9 million, an increase in accounts receivable and equipment financing receivables of $3.8 million, and an increase of $3.2 million in other assets, partially offset by an increase of $10.0 million in accounts payable.

Previous wording

Cash used in investing activities of$13.6 million for the six months ended June 30, 2026 wasprimarily the result of $13.9 million of capital expenditures, $3.2 million related to the acquisitions of distributors in the United States, partially offset by a $3.2 millionnet inflow related tocollections of new equipment financing receivables exceeding originations.

Current wording

Cash used in investing activities of $21.9 million for the nine months ended September 30, 2026 was primarily the result of $23.8 million of capital expenditures, $3.8 million related to the acquisitions of distributors in the United States, partially offset by a $5.0 million net inflow related to collections of equipment financing receivables exceeding originations.

Previous wording

Cash used in investing activities of$24.1 millionfor the six months ended June 30, 2025 was primarily the result of $16.6 million related to capital expenditures, $3.1 million related to acquisitions of distributors in the United States and a$4.6 millionnet outflow related tooriginations of new equipment financing receivables exceeding collections.

Current wording

Cash used in investing activities of $54.3 million for the nine months ended September 30, 2025 was primarily the result of $29.8 million related to capital expenditures, $13.6 million related to distributor acquisitions in the United States and a $11.3 million net outflow related to originations of new equipment financing receivables exceeding collections.

Previous wording

Cash used in financing activities of$98.2 million for the six months ended June 30, 2026 was primarily comprised of$115.0 million in voluntary prepayments on the Term Loan,$8.7 million for taxes paid related to net share settlement of stock options, partially offset by a$22.5 million net increase in asset backed borrowings owed to securitization investors.

Current wording

Cash used in financing activities of $194.2 million for the nine months ended September 30, 2026 was primarily comprised of $160.0 million in voluntary prepayments on the Term Loan, $75.0 million for repurchases of common stock, and $8.8 million for taxes paid related to net share settlement of stock options, partially offset by a $47.1 million net increase in asset backed borrowings owed to securitization investors.

Previous wording

Cash provided by financing activities of $25.2 million for the six months ended June 30, 2025, was primarily comprised of $29.5 million net increase in asset backed borrowings owed to securitization investors, partially offset by $2.3 million related to the repurchase of common stock.

Current wording

Cash used in financing activities of $91.6 million for the nine months ended September 30, 2025, was primarily comprised of $135.0 million in voluntary prepayments on the Term Loan partially offset by $47.2 million net increase in asset backed borrowings owed to securitization investors.

Previous wording

As of June 30, 2026, there was $1,250.0 million outstanding under the Term Loan and$245.1 million of unused capacity on the revolving facility. The Term Loan bears interest of SOFR plus a margin of 2.00%. As of June 30, 2026, the interest rate for the Term Loan is 5.66%.

Current wording

As of September 30, 2026, there was $1,205.0 million outstanding under the Term Loan and $245.0 million of unused capacity on the revolving facility. The Term Loan bears interest of SOFR plus a margin of 2.00%. As of September 30, 2026, the interest rate for the Term Loan is 5.82%. As of September 30, 2026, we had cash and cash equivalents of $133.7 million, which, together with the unused capacity of the revolving facility, represented total liquidity of approximately $378.7 million.

Previous wording

During the six months ended June 30, 2026, the Company made$115.0 million of voluntary prepayments on the Term Loan. Previously, during 2025, the Company made total voluntary prepayments on the Term Loan of $710.0 million, consisting of a $525.0 million prepayment on October 17, 2025, funded with net proceeds from the Company's initial public offering and cash on hand, and $185.0 million of other voluntary prepayments made during the year. The repayments were first applied to and eliminated the future required quarterly installment principal repayments. As such, the remaining balance of the Term Loan is due at maturity on August 19, 2031, with the exception of any Excess Cash Flow payment required under the Credit Agreement.

Current wording

During the nine months ended September 30, 2026, the Company made $160.0 million of voluntary prepayments on the Term Loan. Previously, during 2025, the Company made total voluntary prepayments on the Term Loan of $710.0 million, consisting of a $525.0 million prepayment on October 17, 2025, funded with net proceeds from the Company's initial public offering and cash on hand, and $185.0 million of other voluntary prepayments made during the year. The repayments were first applied to and eliminated the future required quarterly installment principal repayments. As such, the remaining balance of the Term Loan is due at maturity on August 19, 2031, with the exception of any Excess Cash Flow payment required under the Credit Agreement.