Gentex Corp

For the quarterly period ended September 30, 2025 or

For the transition period from to Commission File Number : 0-10235 GENTEX CORPORATION (Exact name of registrant as specified in its charter) Michigan 38-2030505 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)

600 N. Centennial Zeeland Michigan 49464 (Address of principal executive offices) (Zip Code)

(Former name, former address and former fiscal year, if changed since last report)

Indicate by a check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes: ☐ No: þ APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PRECEDING FIVE YEARS: Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court. Yes: ☐ No: o APPLICABLE ONLY TO CORPORATE ISSUERS: Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date. Class Shares Outstanding, October 24, 2025 Common Stock, $.06 Par Value 218,942,919

GENTEX CORPORATION AND SUBSIDIARIES For the Three and Nine Months Ended September 30, 2025 FORM 10-Q Index Part I - Financial Information Page Item 1. Unaudited Condensed Consolidated Financial Statements 3 Unaudited Condensed Consolidated Balance Sheets 3 Unaudited Condensed Consolidated Statements of Income 4 Unaudited Condensed Consolidated Statements of Comprehensive Income 5 Unaudited Condensed Consolidated Statements of Shareholders' Investment 6 Unaudited Condensed Consolidated Statements of Cash Flows 8 Notes to Unaudited Condensed Consolidated Financial Statements 10 Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 35 Item 3. Quantitative and Qualitative Disclosures About Market Risk 49 Item 4. Controls and Procedures 49

Part II - Other Information Item 1A. Risk Factors 51 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 51 Item 6. Exhibits 52 Signature s 52 Exhibit Index 53

PART I - FINANCIAL INFORMATION Item 1. Unaudited Condensed Consolidated Financial Statements.

GENTEX CORPORATION AND SUBSIDIARIES UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS As of September 30, 2025 and December 31, 2024 September 30, 2025 (Unaudited) December 31, 2024 (Note) ASSETS CURRENT ASSETS Cash and cash equivalents $ 178,589,422 $ 233,318,766 Short-term investments 4,815,376 22,304,829 Accounts receivable, net 384,673,839 295,344,353 Inventories, net 499,243,613 436,497,445 Prepaid expenses and other 101,151,652 49,862,777 Total current assets 1,168,473,902 1,037,328,170 PLANT AND EQUIPMENT - NET 799,496,473 728,481,467 OTHER ASSETS Goodwill 356,913,957 340,668,927 Long-term investments 247,357,706 339,604,044 Intangible assets, net 191,437,576 195,157,160 Deferred tax asset 92,660,519 53,154,832 Patents and other assets, net 82,414,519 66,426,375 Total other assets 970,784,277 995,011,338 TOTAL ASSETS $ 2,938,754,652 $ 2,760,820,975 LIABILITIES AND SHAREHOLDERS' INVESTMENT CURRENT LIABILITIES Accounts payable $ 252,041,199 $ 168,314,912 Short-term debt 4,130,859 - Accrued liabilities 138,284,171 84,377,764 Total current liabilities 394,456,229 252,692,676 OTHER NON-CURRENT LIABILITIES 45,097,267 36,028,644

DEFERRED INCOME TAXES 1,666,672 - TOTAL LIABILITIES 441,220,168 288,721,320 REDEEMABLE NON-CONTROLLING INTEREST 2,319,658 - SHAREHOLDERS' INVESTMENT Common stock 13,137,108 13,632,448 Additional paid-in capital 1,012,857,311 1,010,440,420 Retained earnings 1,471,866,630 1,450,287,128 Accumulated other comprehensive loss ( 2,646,223 ) ( 6,409,341 ) TOTAL GENTEX CORPORATION SHAREHOLDERS' INVESTMENT 2,495,214,826 2,467,950,655 Non-controlling Interest - 4,149,000 TOTAL SHAREHOLDERS' INVESTMENT 2,495,214,826 2,472,099,655 TOTAL LIABILITIES, REDEEMABLE NON-CONTROLLING INTEREST, AND SHAREHOLDERS' INVESTMENT $ 2,938,754,652 $ 2,760,820,975

Note: The condensed consolidated balance sheet at December 31, 2024 has been derived from the audited consolidated financial statements at that date, but does not include all of the inflation and footnotes required by accounting principles generally accepted in the United States for complete financial statements. 3

GENTEX CORPORATION AND SUBSIDIARIES UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME For the Three and Nine Months Ended September 30, 2025 and 2024 Three Months Ended September 30, Nine Months Ended September 30, 2025 2024 2025 2024 Net income from consolidated operations $ 100,886,704 $ 122,549,041 $ 291,411,199 $ 316,820,194 Other comprehensive income (loss) before tax: Foreign currency translation adjustments 872,761 1,776,813 2,636,542 317,059 Unrealized gains (losses) on derivatives 147,094 - ( 1,098,273 ) - Unrealized (losses) gains on debt securities, net ( 301,948 ) 4,193,565 2,524,319 4,245,746 Other comprehensive income, before tax 717,907 5,970,378 4,062,588 4,562,805 Income tax impact related to components of other comprehensive income (loss) ( 32,519 ) 880,649 299,470 891,607 Other comprehensive income, net of tax 750,426 5,089,729 3,763,118 3,671,198 Comprehensive income from consolidated operations $ 101,637,130 $ 127,638,770 $ 295,174,317 $ 320,491,392 Net loss attributable to non-controlling interests ( 81,206 ) - ( 470,340 ) - Comprehensive income attributable to Gentex Corporation $ 101,718,336 $ 127,638,770 $ 295,644,657 $ 320,491,392

GENTEX CORPORATION AND SUBSIDIARIES UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' INVESTMENT For the Three Months Ended September 30, 2025 and 2024 Common Stock Shares Common Stock Amount Additional Paid-In Capital Retained Earnings Accumulated Other Comprehensive Income (Loss) Total Equity Attributable to Noncontrolling Interests Total Shareholders' Investment BALANCE AS OF JULY 1, 2025 219,520,750 $ 13,171,245 $ 998,911,809 $ 1,421,351,763 $ ( 3,396,649 ) $ 2,430,038,168 $ 599,556 $ 2,430,637,724 Issuance of common stock from stock plan transactions 434,634 26,078 7,028,233 - - 7,054,311 - 7,054,311 Repurchases of common stock ( 1,003,580 ) ( 60,215 ) ( 4,044,427 ) ( 24,178,827 ) - ( 28,283,469 ) - ( 28,283,469 ) Stock-based compensation expense related to stock options, employee stock purchases and restricted stock - - 10,436,395 - - 10,436,395 - 10,436,395 Dividends declared ($ 0.12 per share) - - - ( 26,274,216 ) - ( 26,274,216 ) - ( 26,274,216 )

(1) Net income (loss) excludes net loss attributable to redeemable non-controlling interest of $ 81,902 for the three months ended September 30, 2025 (see Note 16 ). 6

(1) Net income (loss) excludes net loss attributable to redeemable non-controlling interest of $ 414,641 for the nine months ended September 30, 2025 (see Note 16 ). 7

GENTEX CORPORATION AND SUBSIDIARIES UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS For the Nine Months Ended September 30, 2025 and 2024 2025 2024 CASH FLOWS FROM OPERATING ACTIVITIES: Net income from consolidated operations $ 291,411,199 $ 316,820,194 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 78,808,967 70,887,294 Gain on disposal of assets ( 161,501 ) ( 1,279,049 ) Loss on disposal of assets 13,243 48,618 Gain on sale of investments and technology investment income ( 1,637,823 ) ( 4,736,312 ) Loss on sale of investments and technology investment losses 6,630,483 14,839,974 Reserve for credit losses 4,778,334 - Deferred income taxes ( 5,832,023 ) ( 9,970,207 ) Stock-based compensation expense related to employee stock options, employee stock purchases and restricted stock 26,596,685 30,936,895 Impairment charge 8,376,148 - Change in operating assets and liabilities: Accounts receivable, net ( 30,771,806 ) ( 34,528,140 ) Inventories 35,148,302 ( 46,837,992 ) Prepaid expenses and other ( 6,400,676 ) ( 2,616,370 ) Accounts payable 52,627,156 ( 8,976,998 ) Accrued liabilities, excluding dividends declared 2,040,885 19,229,845 Net cash provided by operating activities 461,627,573 343,817,752 CASH FLOWS USED FOR INVESTING ACTIVITIES: Activity in investments: Sales proceeds 71,903,080 35,059,971 Maturities and calls 1,655,000 10,260,000 Purchases ( 16,267,120 ) ( 83,764,695 ) Plant and equipment additions ( 103,418,837 ) ( 102,966,564 ) Proceeds from sale of plant and equipment 259,111 142,400 Acquisition of businesses, net of cash acquired ( 156,291,615 ) - Loans to technology investment partners ( 14,199,157 ) - Increase in other assets ( 925,381 ) ( 5,614,129 ) Net cash used for investing activities ( 217,284,919 ) ( 146,883,017 ) CASH FLOWS USED FOR FINANCING ACTIVITIES:

Issuance of common stock from stock plan transactions 13,338,052 24,024,353 Cash dividends paid ( 80,586,484 ) ( 83,145,216 ) Repurchases of common stock ( 229,023,565 ) ( 184,609,148 ) Net cash used for financing activities ( 296,271,997 ) ( 243,730,011 ) NET DECREASE IN CASH, CASH EQUIVALENTS, and RESTRICTED CASH ( 51,929,343 ) ( 46,795,276 ) CASH, CASH EQUIVALENTS, and RESTRICTED CASH, beginning of period 233,318,766 226,435,019 CASH, CASH EQUIVALENTS, and RESTRICTED CASH, end of period $ 181,389,423 $ 179,639,743 Reconciliation of cash, cash equivalents and restricted cash to the Unaudited Condensed Consolidated Balance Sheets: Balance as of September 30, 2025 December 31, 2024 Cash and cash equivalents $ 178,589,422 $ 233,318,766 Restricted cash included in Prepaid expenses and other 2,800,001 - $ 181,389,423 $ 233,318,766

Nine months ended September 30 SUPPLEMENTAL CASH FLOW DATA 2025 2024 Non-cash investing and financing activities: Change in property and equipment in accounts payable and accrued expenses and other current liabilities $ 12,433,422 $ ( 4,115,011 )

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

(2) Adoption of New Accounting Standards

In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures . Under this ASU, public business entities must annually "(1) disclose specific categories in the rate reconciliation and (2) provide additional information for reconciling items that meet a quantitative threshold (if the effect of those reconciling items is equal to or greater than 5 percent of the amount computed by multiplying pretax income (or loss) by the applicable statutory income tax rate)." This ASU is effective on a prospective basis for the Company in the fiscal year ending December 31, 2025 and will result in additional disclosures being included in the consolidated financial statements for the Company's Form 10-K for the year ended December 31, 2025.

In November 2024, the FASB issued ASU No. 2024-03, "Disaggregation of Income Statement Expenses (Subtopic 220-40)." The ASU requires public business entities to disaggregate, in a tabular presentation, certain income statement expenses into different categories, such as purchases of inventory, employee compensation, depreciation, and intangible asset amortization. The guidance is effective for fiscal years beginning after December 15, 2026, and interim periods beginning after December 15, 2027. Companies have the option to apply the guidance either on a retrospective or prospective basis, and early adoption is permitted. The Company is currently evaluating the impact of adopting this ASU on the consolidated financial statements and related disclosures. In January 2025, the FASB issued ASU No. 2025-01, "Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date." This ASU amends the effective date of ASU 2024-03 to clarify that all public business entities are required to adopt the guidance in annual reporting periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

In May 2025, the FASB issued ASU 2025-03, Business Combinations (Topic 805) and Consolidation (Topic 810): Determining the Accounting Acquirer in the Acquisition of a Variable Interest Entity ("VIE") , which provides clarifying guidance on determining the accounting acquirer in certain transactions involving VIE's. The update aims to improve consistency and comparability in financial reporting. The guidance will be effective for annual periods beginning after December 15, 2026, including interim periods within those annual periods. Early adoption is permitted. Upon adoption, the guidance will be applied prospectively. The Company is currently evaluating the provisions of the guidance and the impact on its future consolidated financial statements.

In July 2025, the FASB issued ASU 2025-05, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets , which introduces a practical expedient for the application of the current expected credit loss model to current accounts receivable and contract assets in which all entities can assume that current conditions as of the balance sheet date do not change for the remaining life of the assets. This ASU is effective for annual periods beginning after December 15, 2025, and interim periods within those annual reporting periods. Early adoption is permitted. The Company is currently evaluating the impact that the adoption of this standard will have on its consolidated financial statements and disclosures.

In September 2025, the FASB issued ASU 2025-06, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software . This ASU updates the cost capitalization threshold for internal-use software development costs by rem