Healthcare Biotech & Finance

credit / rates affecting interest expense

“Three Months Ended March 31, $ in thousands 2026 2025 Interest Expense Interest expense on repurchase agreement borrowings 52,593 55,025 Our interest expense decreased $2.4 million for three months ended March 31, 2026 compared to the same period in 2025 due to a lower cost of funds, which was partially offset by an increase in average borrowings.”

IVR 10-Q

input costs affecting expense

“Our cost of services increased by 14.0% to $98.5 million in the three months ended September 30, 2025 from $86.4 million in the three months ended September 30, 2024, primarily due to: ◦ an increase in delivery cost by 9.7% to $69.9 million in the three months ended September 30, 2025 from $63.7 million in the three months ended September 30, 2024 as last mile costs and our sales increased during the period, partially offset by a decrease in ocean freight costs; and ◦ an increase in rental cost by 27.8% to $18.4 million in the three months ended September 30, 2025 from $14.4 million in the three months ended September 30, 2024 as the total square footage of our fulfillment centers increased.”

GCT 10-Q

credit / rates affecting expense

“Three Months Ended March 31, 2026 2025 $ in thousands Reconciliation Net Interest Rate Margin / Effective Interest Rate Margin Reconciliation Net Interest Rate Margin / Effective Interest Rate Margin Net interest income 27,048 1.44 % 18,821 0.99 % Add: Contractual net interest income (expense) on interest rate swaps recorded as gain (loss) on derivative instruments, net 21,578 1.61 % 28,079 2.28 % Effective net interest income 48,626 3.05 % 46,900 3.27 % Our effective net interest income increased in the three months ended March 31, 2026 compared to the same period in 2025 due to higher average earning assets and a lower cost of funds, which were partially offset by a decrease in contractual net interest income on interest rate swaps, higher average borrowings and lower average earning asset yields.”

IVR 10-Q