Gentherm Reports 2025 Third Quarter Results

Achieved Record Quarterly Revenue of $387 Million; Strong Year to Date Operating Cash Flow of $88 Million
Secured $745 Million of Automotive New Business Awards in the Quarter
Revenue Mid-point Raised in 2025 Full Year Guidance Update

NOVI, Mich., Oct. 23, 2025 (GLOBE NEWSWIRE) -- Gentherm (NASDAQ:THRM), a global market leader of innovative thermal management and pneumatic comfort technologies, today announced its financial results for the third quarter ended September 30, 2025.

“Our third quarter financial and operational performance demonstrated our ability to deliver results, while executing our long-term strategic initiatives. Our commercial momentum continued as we secured $745 million of Automotive New Business Awards, keeping us on pace to deliver over $2 billion for the year. Growth over market in the quarter improved sequentially as we launched several new programs and take rates increased in the China market. Our operational excellence initiatives are gaining traction, which contributed to strong cash generation in the quarter,” said Bill Presley, the Company's President and CEO.

Third Quarter Highlights

Secured Automotive New Business Awards totaling $745 million, highlighted by a conquest lumbar and massage comfort solutions award with Mercedez-Benz, including our innovative pulsating massage solution, Puls.A™.
Selected by leading global furniture brand to supply comfort solutions with start of production expected in the first quarter of 2026.
Product revenues of $386.9 million increased 4.1% from $371.5 million in the prior year. Excluding the impact of foreign currency translation, product revenues increased 2.4%, with Automotive increasing 2.5% and Medical decreasing 1.6%.
Automotive Climate and Comfort Solutions revenue increased 8.6% year over year, or 7.0% excluding the impact of foreign currency translation, outperforming S&P Global’s mid-October light vehicle production report in our relevant markets by 160 basis points.
Gross margin was 24.6%, a decrease from 25.5% in the prior year. The decrease was primarily driven by higher material costs, the impact of a one-time prior year favorable adjustment related to the exit of our non-automotive electronics business, as well as expenses related to our footprint realignment, partially offset by operating leverage and foreign exchange.
Net income was $14.9 million, a decrease from $16.0 million in the prior year.
Adjusted EBITDA was $49.0 million, or 12.7% of revenue, compared to $48.1 million, or 12.9% of revenue, in the prior year.
GAAP diluted earnings per share was $0.49, compared to $0.51 in the prior year.
Adjusted diluted earnings per share was $0.73, compared to $0.75 in the prior year.
Delivered year-to-date cash flow from operations of $87.8 million, compared to $73.1 million in the prior year.
Reduced net leverage to ~0.2x; increased liquidity to $462.2 million.

Presley concluded, “We made great strides on the execution of our strategic priorities in the quarter. Our entrance into another adjacent market with a furniture brand reinforces our confidence in the ability to scale our core technologies across multiple end markets to drive profitable growth. We remain focused on finishing the year strong and positioning Gentherm for long-term value creation.”

Guidance

The Company’s guidance for full year 2025 as of October 23, 2025 is provided below¹:

	Previous July 24, 2025	Revised October 23, 2025
Product Revenues	$1.43B – $1.5B	$1.47B – $1.49B
Adjusted EBITDA Margin Rate	11.7% – 12.5%	11.9% – 12.3%
Full-year Adjusted Effective Tax Rate	26% – 29%	No change
Capital Expenditures	$55M – $65M	$45M – $55M

^{¹Guidance based on tariffs currently in effect as of today, our current forecast of customer orders and expectations of near-term conditions, flat to slightly increasing light vehicle production in our relevant markets for full year 2025 versus 2024, and a EUR to USD exchange rate of $1.13/Euro.}

The Company provides various non-GAAP financial measures in this release. See “Use of Non-GAAP Measures” below for additional information, including definitions, usefulness for investors and limitations, as well as reconciliations below to the most directly comparable GAAP financial measures.

Conference Call

As previously announced, Gentherm will conduct a conference call today at 8:00 am Eastern Time to review these results. The dial-in number for the call is 1-877-407-4018 (callers in the U.S.) or +1-201-689-8471 (callers outside the U.S.). The passcode for the live call is 13756525.

A live webcast and one-year archived replay of the call, as well as a copy of the supplemental materials that will be used during the conference call, can be accessed on the Events page of the Investor section of Gentherm's website at www.gentherm.com.

A telephonic replay will be available approximately two hours after the call until 11:59 pm Eastern Time on November 6, 2025. The replay can be accessed by dialing 1-844-512-2921 (callers in the U.S.), or +1-412-317-6671 (callers outside the U.S.). The passcode for the replay is 13756525.

Investor Contact
Gregory Blanchette
investors@gentherm.com 
248.308.1702

Media Contact
Melissa Fischer
media@gentherm.com 
248.289.9702

About Gentherm
Gentherm (NASDAQ: THRM) is a global market leader of innovative thermal management and pneumatic comfort technologies. Automotive products include Climate Control Seats (CCS®), Climate Control Interiors (CCI™), Lumbar and Massage Comfort Solutions, and Valve Systems. Medical products include patient temperature management systems. The Company is also developing a number of new technologies and products that will help enable improvements to existing products and to create new product applications for existing and new markets. Gentherm has more than 14,000 employees in facilities across 13 countries. In 2024, the company recorded annual sales of approximately $1.5 billion and secured $2.4 billion in automotive new business awards. For more information, go to www.gentherm.com.

Forward-Looking Statements
Except for historical information contained herein, statements in this release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent Gentherm Incorporated's goals, beliefs, plans and expectations about its prospects for the future and other future events. The forward-looking statements included in this release are made as of the date hereof or as of the date specified herein and are based on management's reasonable expectations and beliefs. In making these statements we rely on assumptions and analysis based on our experience and perception of historical trends, current conditions and expected future developments, third party information and projections from sources that management believes to be reputable, as well as other factors we consider appropriate under the circumstances. Such statements are subject to a number of important assumptions, significant risks and uncertainties (some of which are beyond our control) and other factors that may cause actual results or performance to differ materially from that described in or indicated by the forward-looking statements, including but not limited to:

macroeconomic, geopolitical and similar global factors in the cyclical Automotive industry;
the impact of, and our ability to mitigate the effects of, global economic and trade policies, including increases in duties, tariffs and taxation on the import or export of our products related to U.S. trade disputes;
increasing U.S. and global competition, including with non-traditional entrants;
our ability to effectively manage new product launches and research and development, and the market acceptance of such products and technologies;
the evolution and challenges of the automotive industry towards electric vehicles, autonomous vehicles and mobility on demand services, and related consumer behaviors and preferences;
our ability to convert automotive new business awards into product revenues;
the constraints in the supply chain environment, and inflationary and other cost pressures;
the production levels of our major customers and OEMs in our relevant markets and sudden fluctuations in such production levels;
our business in China, which is subject to unique operational, competitive, geopolitical, regulatory and economic risks;
the impact of our global operations, including our global supply chain, operations within Ukraine, and foreign currency and exchange risk;
our product quality and safety and impact of product safety recalls and alleged defects in products;
our ability to attract and retain highly skilled employees and wage inflation;
a tightening labor market, labor shortages or work stoppages impacting us, our customers or our suppliers, such as recent labor strikes among certain OEMs and suppliers;
our achievement of product cost reductions to offset customer-imposed price reductions or other pricing pressures;
our ability to execute efforts to optimize our global supply chain and manufacturing footprint, including opening new facilities and transferring production;
our ability to source, consummate, integrate and achieve planned benefits of strategic acquisitions, investments and, as applicable, exits;
any security breaches and other disruptions to our information technology networks and systems, as well as privacy, data security and data protection risks, including risks associated with use of artificial intelligence capabilities in our business operations;
any loss or insolvency of our key customers and OEMs, or key suppliers;
our ability to project future sales volume based on third-party information, based on which we manage our business;
the protection of our intellectual property in certain jurisdictions;
our compliance with global anti-corruption laws and regulations;
legal and regulatory proceedings and claims involving us or one of our major customers;
the extensive regulation of our patient temperature management business;
risks associated with our manufacturing processes;
the effects of climate change and catastrophic events, as well as regulatory and stakeholder-imposed requirements to address climate change and other sustainability issues;
our product quality and safety;
our borrowing availability under our revolving credit facility, as well as the ability to access the capital markets, to support our planned growth; and
our indebtedness and compliance with our debt covenants.

The foregoing risks should be read in conjunction with the Company's reports filed with or furnished to the Securities and Exchange Commission (the “SEC”), including “Risk Factors,” in its most recent Annual Report on Form 10-K and subsequent SEC filings, for a discussion of these and other risks and uncertainties. In addition, with reasonable frequency, we have entered into business combinations, acquisitions, divestitures, strategic investments and other significant transactions. Such forward-looking statements do not include the potential impact of any such transactions that may be completed after the date hereof, each of which may present material risks to the Company’s future business and financial results. Moreover, we operate in a very competitive and rapidly changing environment and new risks emerge from time to time.

Except as required by law, the Company expressly disclaims any obligation or undertaking to update any forward-looking statements to reflect any change in its strategies or expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

Use of Non-GAAP Financial Measures
In addition to the results reported in accordance with GAAP throughout this release, the Company has provided here or elsewhere information regarding: adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”); Adjusted EBITDA margin; adjusted earnings per share (“Adjusted earnings per share” or “Adjusted EPS”); free cash flow; net capital expenditures (“net CAPEX”); Net Debt; liquidity; net leverage ratio (“net leverage”); revenue, segment revenue and product revenue excluding foreign currency translation and other specified gains and losses; and adjusted operating expenses, each a non-GAAP financial measure. The Company defines Adjusted EBITDA as earnings before interest, taxes, depreciation and amortization, deferred financing cost amortization, non-cash stock based compensation expenses, restructuring expenses, net, unrealized currency gain or loss and other gains and losses not reflective of the Company’s ongoing operations and related tax effects. The Company defines Adjusted EBITDA margin as Adjusted EBITDA divided by product revenues. The Company defines Adjusted EPS as earnings adjusted by restructuring expenses, net, unrealized currency gain or loss and other gains and losses not reflective of the Company’s ongoing operations and related tax effects. The Company defines Free Cash Flow as Net cash from operating activities less Purchases of property and equipment. The Company defines net CAPEX as Purchases of property and equipment less Proceeds from the sale of property and equipment. The Company defines Net Debt as the principal amount of all Consolidated Funded Indebtedness (as defined in the Credit Agreement) less cash and cash equivalents. The Company defines liquidity as the sum of cash and cash equivalents and availability under the Company’s revolving line of credit. The Company defines net leverage as Net Debt divided by Adjusted EBITDA for the trailing four fiscal quarters. The Company defines revenue, segment revenue or product revenue excluding foreign currency translation and other specified gains and losses as such revenue, excluding the estimated effects of foreign currency exchange on revenue by translating actual revenue using the prior period foreign currency exchange rates and excluding the other items specified. The Company defines adjusted operating expenses as operating expenses excluding related non-cash stock based compensation, restructuring expenses, net, and other gains and losses not reflective of the Company’s ongoing operations.

The Company’s reconciliations are included in this release or can be found in the supplemental materials on the Company’s website.

In evaluating its business, the Company considers and uses Free Cash Flow, Net Debt, net leverage and liquidity as supplemental measures of its liquidity and the other non-GAAP financial measures as supplemental measures of its operating performance. Management provides such non-GAAP financial measures so that investors will have the same financial information that management uses with the belief that it will assist investors in properly assessing the Company's performance on a period-over-period basis by excluding matters not indicative of the Company’s ongoing operating or liquidity results and therefore enhance the comparability of the Company's results and provide additional information for analyzing trends in the business. In evaluating our non-GAAP financial measures, you should be aware that in the future we may incur revenues, expenses, and cash and non-cash obligations that are the same as or similar to some of the adjustments in our presentation of non-GAAP financial measures. Our presentation of non-GAAP financial measures should not be construed as an inference that our future results will be unaffected by unusual or non-recurring items. There also can be no assurance that we will not modify the presentation of our non-GAAP financial measures in the future, and any such modification may be material. Other companies in our industry may define and calculate these non-GAAP financial measures differently than we do and those calculations may not be comparable to our metrics. These non-GAAP measures have limitations as analytical tools, and when assessing the Company's operating performance or liquidity, investors should not consider these non-GAAP measures in isolation, or as a substitute for net income, revenue or other consolidated income statement or cash flow statement data prepared in accordance with GAAP.

Non-GAAP measures referenced in this release and other public communications may include estimates of future Adjusted EBITDA, Adjusted EBITDA margin and Adjusted EPS. The Company has not reconciled the non-GAAP forward-looking guidance included in this release to the most directly comparable GAAP measures because this cannot be done without unreasonable effort due to the variability and low visibility with respect to taxes and non-recurring items, which are potential adjustments to future earnings. We expect the variability of these items to have a potentially unpredictable, and a potentially significant, impact on our future GAAP financial results.

GENTHERM INCORPORATED CONSOLIDATED CONDENSED STATEMENTS OF INCOME (Dollars in thousands, except per share data) (Unaudited)

	Three Months Ended September 30,						Nine Months Ended September 30,
	2025			2024			2025			2024
Product revenues	$	386,870		$	371,512		$	1,115,814		$	1,103,210
Cost of sales		291,722			276,639			844,439			822,883
Gross margin		95,148			94,873			271,375			280,327
Operating expenses:
Net research and development expenses		24,429			23,013			71,203			67,619
Selling, general and administrative expenses		42,875			36,861			122,440			116,992
Restructuring expenses, net		3,986			2,662			10,608			12,342
Loss on sale of land and building, net		—			—			2,196			—
Total operating expenses		71,290			62,536			206,447			196,953
Operating income		23,858			32,337			64,928			83,374
Interest expense, net		(3,313	)		(4,710	)		(10,911	)		(11,956	)
Foreign currency gain (loss)		339			(8,480	)		(27,391	)		(6,213	)
Other income (loss)		—			263			(1,124	)		952
Earnings before income tax		20,884			19,410			25,502			66,157
Income tax expense		5,935			3,445			10,204			16,531
Net income	$	14,949		$	15,965		$	15,298		$	49,626
Basic earnings per share	$	0.49		$	0.51		$	0.50		$	1.58
Diluted earnings per share	$	0.49		$	0.51		$	0.50		$	1.57
Weighted average number of shares – basic		30,480			31,187			30,619			31,421
Weighted average number of shares – diluted		30,748			31,365			30,802			31,605

GENTHERM INCORPORATED REVENUE BY PRODUCT CATEGORY AND RECONCILIATION OF FOREIGN CURRENCY TRANSLATION IMPACT (Dollars in thousands) (Unaudited)

	Three Months Ended September 30,							Nine Months Ended September 30,
	2025		2024^(a)		% Change			2025		2024^(a)		% Change
Climate Control Seats	$	201,275	$	189,898		6.0	%	$	592,448	$	581,713		1.8	%
Lumbar and Massage Comfort Solutions		55,799		48,970		13.9	%		153,642		133,090		15.4	%
Climate Control Interiors		52,638		49,283		6.8	%		147,564		140,712		4.9	%
Climate and Comfort Electronics		8,599		4,883		76.1	%		22,220		13,266		67.5	%
Automotive Climate and Comfort Solutions		318,311		293,034		8.6	%		915,874		868,781		5.4	%
Valve Systems		24,487		26,082		(6.1	)%		72,803		81,974		(11.2	)%
Other Automotive		31,413		39,688		(20.9	)%		91,260		116,689		(21.8	)%
Subtotal Automotive segment		374,211		358,804		4.3	%		1,079,937		1,067,444		1.2	%
Medical segment		12,659		12,708		(0.4	)%		35,877		35,766		0.3	%
Total Company	$	386,870	$	371,512		4.1	%	$	1,115,814	$	1,103,210		1.1	%

Foreign currency translation impact^(b)		6,615		—					6,708		—
Total Company, excluding foreign currency translation impact	$	380,255	$	371,512		2.4	%	$	1,109,106	$	1,103,210		0.5	%

(a) Prior period product categories have been recast to conform with the current period presentation. See "Revenue by Product Category Historical Recast" table below for additional information.
(b) Foreign currency translation impacts for the Automotive segment and Medical segment were $6,462 and $153 respectively, for the three months ended September 30, 2025. Foreign currency translation impacts for Automotive Climate and Comfort Solutions were $4,684 for the three months ended September 30, 2025. Foreign currency translation impacts for the Automotive segment and Medical segment were $6,506 and $202 respectively, for the nine months ended September 30, 2025. Foreign currency translation impacts for Automotive Climate and Comfort Solutions were $4,329 for the nine months ended September 30, 2025.

GENTHERM INCORPORATED RECONCILIATION OF NET INCOME TO ADJUSTED EBITDA AND ADJUSTED EBITDA MARGIN (Dollars in thousands) (Unaudited)

	Three Months Ended September 30,						Nine Months Ended September 30,
	2025			2024			2025			2024
Net income	$	14,949		$	15,965		$	15,298		$	49,626
Add back:
Depreciation and amortization		13,274			12,351			39,120			38,742
Income tax expense		5,935			3,445			10,204			16,531
Interest expense, net		3,313			4,710			10,911			11,956
Adjustments:
Non-cash stock based compensation		3,980			2,927			10,569			10,334
Restructuring expenses, net		3,986			2,662			10,608			12,342
Unrealized currency loss		1,865			8,604			30,349			6,251
Leadership transition expenses		777			—			2,935			—
Loss on sale of land and building, net		—			—			2,196			—
Non-automotive electronics inventory benefit		—			(2,679	)		—			(4,451	)
Other^(a)		928			118			2,055			187
Adjusted EBITDA	$	49,007		$	48,103		$	134,245		$	141,518

Product revenues	$	386,870		$	371,512		$	1,115,814		$	1,103,210
Net income margin		3.9	%		4.3	%		1.4	%		4.5	%
Adjusted EBITDA margin		12.7	%		12.9	%		12.0	%		12.8	%

(a) Includes a $1,294 write-down of an equity investment for the nine months ended September 30, 2025.

GENTHERM INCORPORATED RECONCILIATION OF NET INCOME TO ADJUSTED NET INCOME AND ADJUSTED EARNINGS PER SHARE (Dollars in thousands, except per share data) (Unaudited)

	Three Months Ended September 30,						Nine Months Ended September 30,
	2025			2024			2025			2024
Net income	$	14,949		$	15,965		$	15,298		$	49,626
Amortization of acquisition related intangibles		1,676			1,608			4,873			4,797
Restructuring expenses, net		3,986			2,662			10,608			12,342
Unrealized currency loss		1,865			8,604			30,349			6,251
Leadership transition expenses		777			—			2,935			—
Loss on sale of land and building, net		—			—			2,196			—
Non-automotive electronics inventory benefit		—			(2,679	)		—			(4,451	)
Other		928			118			2,055			187
Tax effect of above		(1,582	)		(2,695	)		(13,422	)		(4,546	)
Adjusted net income	$	22,599		$	23,583		$	54,892		$	64,206

Weighted average shares outstanding:
Basic		30,480			31,187			30,619			31,421
Diluted		30,748			31,365			30,802			31,605

Earnings per share, as reported:
Basic	$	0.49		$	0.51		$	0.50		$	1.58
Diluted	$	0.49		$	0.51		$	0.50		$	1.57

Adjusted earnings per share:
Basic	$	0.74		$	0.76		$	1.79		$	2.04
Diluted	$	0.73		$	0.75		$	1.78		$	2.03

GENTHERM INCORPORATED CONSOLIDATED CONDENSED BALANCE SHEETS (Dollars in thousands, except share data) (Unaudited)

	September 30, 2025		December 31, 2024
ASSETS
Current Assets:
Cash and cash equivalents	$	154,250	$	134,134
Accounts receivable, net		291,293		258,112
Inventory:
Raw materials		136,014		137,511
Work in process		35,040		19,059
Finished goods		82,199		70,786
Inventory, net		253,253		227,356
Other current assets		87,096		64,413
Total current assets		785,892		684,015
Property and equipment, net		256,948		252,970
Goodwill		108,730		99,603
Other intangible assets, net		54,291		57,251
Operating lease right-of-use assets		58,662		43,954
Deferred income tax assets		78,302		75,041
Other non-current assets		38,510		34,722
Total assets	$	1,381,335	$	1,247,556
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities:
Accounts payable	$	263,600	$	226,815
Current lease liabilities		10,181		7,517
Current maturities of long-term debt		109		137
Other current liabilities		126,435		105,824
Total current liabilities		400,325		340,293
Long-term debt, less current maturities		189,000		220,064
Non-current lease liabilities		49,678		37,052
Pension benefit obligation		3,880		4,017
Other non-current liabilities		20,504		29,183
Total liabilities	$	663,387	$	630,609
Shareholders’ equity:
Common Stock:
No par value; 55,000,000 shares authorized 30,525,148 and 30,788,639 issued and outstanding at September 30, 2025 and December 31, 2024, respectively		3,901		2,049
Paid-in capital		1,590		4,290
Accumulated other comprehensive income (loss)		1,358		(85,193	)
Accumulated earnings		711,099		695,801
Total shareholders’ equity		717,948		616,947
Total liabilities and shareholders’ equity	$	1,381,335	$	1,247,556

GENTHERM INCORPORATED CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Dollars in thousands) (Unaudited)

	Nine Months Ended September 30,
	2025			2024
Operating Activities:
Net income	$	15,298		$	49,626
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		39,478			40,085
Deferred income taxes		(12,836	)		1,568
Stock based compensation		10,573			10,291
Loss (gain) on disposition of property and equipment		2,671			(1,702	)
Provisions for inventory		5,234			502
Other non-cash items, including unrealized foreign currency loss (gain)		30,957			(1,057	)
Changes in assets and liabilities:
Accounts receivable, net		(20,543	)		(16,179	)
Inventory		(20,136	)		(27,826	)
Other assets		(22,325	)		(35,959	)
Accounts payable		33,514			38,501
Other liabilities		25,935			15,239
Net cash provided by operating activities		87,820			73,089
Investing Activities:
Purchases of property and equipment		(33,378	)		(50,354	)
Proceeds from the sale of property and equipment		3,770			7,537
Proceeds from deferred purchase price of factored receivables		744			10,266
Cost of technology investments		(915	)		(590	)
Net cash used in investing activities		(29,779	)		(33,141	)
Financing Activities:
Borrowings on debt		72,000			53,000
Repayments of debt		(103,112	)		(53,520	)
Proceeds from the exercise of Common Stock options		—			4,650
Taxes withheld and paid on employees' stock based compensation		(1,306	)		(3,157	)
Cash paid for the repurchase of Common Stock		(10,015	)		(41,578	)
Net cash used in financing activities		(42,433	)		(40,605	)
Foreign currency effect		4,508			1,565
Net increase in cash and cash equivalents		20,116			908
Cash and cash equivalents at beginning of period		134,134			149,673
Cash and cash equivalents at end of period	$	154,250		$	150,581
Supplemental disclosure of cash flow information:
Cash paid for taxes	$	22,171		$	19,470
Cash paid for interest		9,835			10,022

GENTHERM INCORPORATED OTHER NON-GAAP RECONCILIATIONS (Dollars in thousands) (Unaudited)

	Three Months Ended September 30,						Nine Months Ended September 30,
	2025			2024			2025			2024
Total operating expenses	$	71,290		$	62,536		$	206,447		$	196,953
Restructuring expense, net		(3,986	)		(2,662	)		(10,608	)		(12,342	)
Non-cash stock based compensation		(3,979	)		(2,708	)		(10,211	)		(9,717	)
Leadership transition expenses		(777	)		—			(2,935	)		—
Loss on sale of land and building, net		—			—			(2,196	)		—
Other		(927	)		—			(927	)		(840	)
Adjusted operating expenses	$	61,621		$	57,166		$	179,570		$	174,054

	September 30, 2025		September 30, 2024
Cash and cash equivalents	$	154,250	$	150,581
Revolving line of credit availability		307,938		278,000
Total liquidity	$	462,188	$	428,581

GENTHERM INCORPORATED REVENUE BY PRODUCT CATEGORY HISTORICAL RECAST (Dollars in thousands) (Unaudited)

Product categories have been modified, and prior-period amounts have been recast to conform with the current period presentation. Climate Control Seat (CCS^®) includes CCS^®Heat (previously Seat Heaters), CCS^®Vent/CCS^®Active Cool (previously CCS) and CCS^®Neck Conditioners (previously included in Other Automotive). Climate Control Interiors (CCI™) includes CCI™ Steering Wheel Heat and CCI™ Interior Heat (previously included in Other Automotive). Other Automotive includes Automotive Cables, Battery Performance Solutions, non-automotive electronics and contract manufacturing electronics (previously classified as Electronics). The table below shows the prior period amounts on a quarterly basis for the years 2023 and 2024 recast to conform with the current presentation:

	2023
	Q1		Q2		Q3		Q4		Full Year
Climate Control Seats	$	193,395	$	199,780	$	201,221	$	203,192	$	797,588
Climate Control Interiors		42,947		46,084		45,398		43,547		177,976
Lumbar and Massage Comfort Solutions		38,738		37,604		33,260		35,321		144,923
Climate and Comfort Electronics		3,539		2,277		2,842		4,202		12,860
Automotive Climate and Comfort Solutions		278,619		285,745		282,721		286,262		1,133,347
Valve Systems		26,994		27,692		27,830		23,746		106,262
Other Automotive		47,079		48,096		44,231		43,937		183,343
Subtotal Automotive segment		352,692		361,533		354,782		353,945		1,422,952
Medical segment		10,933		10,790		11,413		12,988		46,124
Total Company	$	363,625	$	372,323	$	366,195	$	366,933	$	1,469,076

	2024
	Q1		Q2		Q3		Q4		Full Year
Climate Control Seats	$	192,049	$	199,766	$	189,898	$	189,597	$	771,310
Climate Control Interiors		44,398		47,031		49,283		46,260		186,972
Lumbar and Massage Comfort Solutions		38,251		45,869		48,970		45,494		178,584
Climate and Comfort Electronics		4,226		4,157		4,883		4,097		17,363
Automotive Climate and Comfort Solutions		278,924		296,823		293,034		285,448		1,154,229
Valve Systems		26,625		29,267		26,082		23,082		105,056
Other Automotive		39,089		37,912		39,688		30,304		146,993
Subtotal Automotive segment		344,638		364,002		358,804		338,834		1,406,278
Medical segment		11,377		11,681		12,708		14,080		49,846
Total Company	$	356,015	$	375,683	$	371,512	$	352,914	$	1,456,124

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