Reports

Palantir delivered a strong Q2 2025 with robust growth in U.S. commercial revenue, high profitability, and significant deal activity, driven by AI adoption and enterprise demand.

• Revenue grew to over $1 billion in Q2, driven by strong U.S. performance.
• U.S. commercial revenue surged 93% YoY to $306 million.

MercadoLibre posted solid Q2 2025 results, with net revenues reaching $6.79B and net income totaling $523M. Strong growth in fintech and e-commerce activity, particularly in Argentina and Brazil, contributed to the company’s performance. The fintech user base rose significantly, and marketplace engagement remained high.

• Total net revenues and financial income rose to $6.79B, driven by fintech and commerce growth.
• Net income reached $523M, slightly down YoY due to FX losses, but operating income grew to $825M.

Vertex Pharmaceuticals delivered a strong second quarter in 2025, with total revenue increasing by 12% to $2.96 billion, primarily due to the continued performance of cystic fibrosis therapies and early contributions from new product launches like ALYFTREK, JOURNAVX, and CASGEVY. The company also reported significant improvements in GAAP and non-GAAP net income compared to the prior year, which had been impacted by a large acquisition-related expense.

• Total revenue for Q2 2025 reached $2.96 billion, marking a 12% increase year-over-year, driven by strong performance across its product portfolio.
• The company saw significant contributions from its recent product launches: ALYFTREK, JOURNAVX, and CASGEVY, alongside continued growth in its established cystic fibrosis therapies.

Williams delivered an outstanding second quarter in 2025, with significant growth across key financial metrics. Adjusted EBITDA increased by 8% year-over-year, and cash flow from operations rose by 13%. The company's GAAP net income was $546 million, with diluted EPS of $0.45. These strong results were primarily fueled by successful Transco expansion projects and increased volumes in its gathering and processing segments, prompting Williams to raise its full-year 2025 Adjusted EBITDA guidance.

• GAAP net income for Q2 2025 was $546 million, or $0.45 per diluted share, showing a strong performance.
• Adjusted EBITDA increased by $141 million (8%) to $1.808 billion compared to Q2 2024, driven by Transco expansions and new volumes.

Axon delivered another record quarter with 33% revenue growth driven by strong adoption of premium software offerings and robust TASER 10 demand.

• Revenue reached $668,538,000, growing 33% year-over-year.
• Net income came in at $36,117,000 with diluted EPS of $0.44.

ONEOK saw strong earnings growth in Q2 2025, driven by the EnLink and Medallion acquisitions and record Rocky Mountain NGL throughput volumes.

• Net income attributable to ONEOK reached $841 million for the quarter.
• Adjusted EBITDA rose to $1.98 billion, including $21 million in transaction costs.

Simon delivered a successful second quarter, driven by portfolio quality and disciplined execution, leading to increased net income and FFO. The company raised its full-year Real Estate FFO guidance and increased its quarterly dividend, reflecting strong operational performance and strategic investments.

• Net income attributable to common stockholders increased to $556.1 million, or $1.70 per diluted share, compared to $493.5 million, or $1.51 per diluted share in the prior year.
• Real Estate Funds From Operations (FFO) was $1.154 billion, or $3.05 per diluted share, an increase of 4.1% compared to the prior year.

Diamondback Energy delivered strong Q2 2025 results, driven by robust oil production and significant shareholder returns. The company generated substantial free cash flow and continued to reduce capital expenditures while maintaining high operational efficiency.

• Net income for Q2 2025 was $699 million, with adjusted net income at $785 million.
• Net cash provided by operating activities reached $1.7 billion, and Free Cash Flow was $1.2 billion.

IDEXX delivered robust financial results in Q2 2025, driven by strong growth in Companion Animal Group diagnostics and record instrument placements. EPS rose 49% as reported, while international growth outpaced domestic gains.

• Revenue reached $1.11 billion, up 11% year-over-year
• EPS increased 49% to $3.63, including discrete tax benefits

Equity Residential delivered steady results in Q2 2025, driven by robust demand in high-density urban markets like San Francisco and New York. The company saw increases in EPS, revenue, and net income, supported by higher occupancy and leasing rates.

• EPS increased to $0.50, supported by property sale gains.
• Normalized FFO per share reached $0.99, slightly up from last year.

SBA Communications delivered a very positive second quarter in 2025, with net income of $225.7 million and industry-leading AFFO per share of $3.17. The company saw strong domestic activity with new U.S. leasing business exceeding expectations, benefiting from high levels of new colocations. International leasing also showed solid activity, contributing to the highest company-wide new colocations in nearly three years. The early closing of over 4,300 sites from the Millicom acquisition significantly boosted results, leading to a meaningful increase in the full year outlook across all key financial metrics.

• Net income reached $225.7 million, or $2.09 per share, demonstrating strong profitability.
• Adjusted Funds From Operations (AFFO) per share was $3.17, maintaining an industry-leading position.

The company exceeded the midpoint of its revenue and gross margin guidance. Earnings came in at $0.53 per share, and net income reached $170.3 million. Automotive was the largest revenue contributor, and Free Cash Flow margin remained strong at 20.1%.

• Revenue was $1.4687 billion, above the midpoint of guidance
• Net income came in at $170.3 million

Coterra Energy delivered an excellent second quarter in 2025, with production volumes exceeding guidance ranges and capital expenditures coming in below the low end of guidance. The company reported strong financial results, including $511 million in net income and $0.48 in adjusted EPS, and continued its commitment to shareholder returns and debt reduction.

• Total BOE and natural gas production exceeded the high-end of guidance ranges, while oil volumes beat the midpoint by approximately 2%.
• Capital expenditures (non-GAAP) were below the low-end of the guidance range, indicating strong capital efficiency.

Waters Corporation delivered excellent results in the second quarter of 2025, with sales of $771 million, a 9% increase year-over-year, and non-GAAP EPS growing 12% to $2.95. This performance was driven by robust instrument replacement trends, particularly among large pharma and CDMO customers, and strong execution against commercial growth initiatives.

• Sales of $771 million exceeded guidance, growing 9% as reported and 8% in constant currency.
• GAAP EPS was $2.47 and non-GAAP EPS was $2.95, both above the mid-point of guidance.

Tyson Foods delivered solid Q3 results with year-over-year growth in sales and adjusted EPS. Strength in chicken and prepared foods offset a goodwill impairment in beef. The company remains focused on operational execution and protein demand.

• Revenue reached $13.884 billion, up from $13.353 billion in Q3 2024.
• Adjusted EPS increased to $0.91, up from $0.87 the prior year.

Loews Corporation posted solid Q2 2025 results, driven by strong performance at Boardwalk Pipelines and improved investment income, despite a decline in CNA’s contribution and Loews Hotels’ profitability.

• Net income rose to $391 million, up from $369 million in Q2 2024.
• EPS increased to $1.87 from $1.67 in the prior-year quarter.

Corebridge Financial reported a net loss of $660 million for the second quarter of 2025, primarily due to higher realized losses compared to a gain on divestiture in the prior year. However, the company achieved strong adjusted after-tax operating income of $750 million and operating EPS of $1.36, demonstrating a 10% increase in adjusted pre-tax operating income year-over-year. The company also returned $442 million to shareholders and closed a significant portion of its Individual Retirement VA transaction, positioning itself for future organic growth.

• Corebridge Financial reported a net loss of $660 million, or $1.20 per share, in Q2 2025, largely due to higher realized losses.
• Adjusted after-tax operating income increased to $750 million, and operating EPS rose to $1.36 per share, reflecting strong underlying business performance.

AECOM delivered an outstanding third quarter in fiscal 2025, exceeding expectations across key financial metrics. The company achieved record adjusted EBITDA and EPS, driven by accelerated net service revenue growth in both segments and a significant expansion in segment adjusted operating margin, reaching 17.1% well ahead of target. Backlog and pipeline are at all-time highs, providing unprecedented visibility for future growth.

• Revenue increased slightly to $4.178 billion, with net service revenue growing by 6% to $1.938 billion, driven by strong performance in the Americas segment.
• Operating income surged by 29% to $294 million, and adjusted EPS increased by 16% to $1.34, both setting new quarterly records.

The company posted record revenue of $544.8 million and more than doubled its adjusted EBITDA year-over-year, driven by growth in subscriptions and personalized treatments.

• Revenue reached $544.8 million, driven by the online channel.
• Net income increased to $42.5 million from $13.3 million in Q2 2024.

BWX Technologies delivered exceptionally strong financial results in the second quarter of 2025, with significant revenue growth in both Government and Commercial Operations. The company achieved record backlog and increased its full-year 2025 guidance for adjusted EBITDA, non-GAAP EPS, and free cash flow, reflecting strong demand for nuclear solutions and successful strategic investments.

• Total revenues increased by 12% year-over-year to $764.0 million, with strong growth in both Government and Commercial Operations.
• Diluted GAAP EPS rose by 8% to $0.85, and non-GAAP EPS increased by 24% to $1.02, demonstrating improved profitability.

CNA delivered solid Q2 2025 results driven by strong Property & Casualty core income, improved combined ratios, and continued premium growth. Investment income also rose significantly year over year.

• Core income reached $335 million, up from $326 million last year
• P&C segments delivered $448 million in core income, driven by higher investment income and underwriting improvement

Encompass Health demonstrated strong performance in Q2 2025 with a 12.0% increase in net operating revenue to $1,457.7 million and a 23.9% rise in diluted EPS to $1.40. The company's growth was driven by increased discharges and improved pricing, leading to a 17.2% increase in Adjusted EBITDA and a 30.5% increase in Adjusted Free Cash Flow.

• Net operating revenue increased by 12.0% to $1,457.7 million in Q2 2025 compared to Q2 2024.
• Diluted earnings per share from continuing operations attributable to Encompass Health grew by 23.9% to $1.40.

BioMarin delivered a strong second quarter in 2025, with total revenues reaching $825 million, a 16% increase year-over-year, driven by robust growth in VOXZOGO and Enzyme Therapies. The company also saw significant profitability expansion, with GAAP net income increasing by 125% to $241 million and non-GAAP income growing by 49% to $282 million. BioMarin raised its full-year 2025 guidance for key financial metrics, reflecting continued patient demand and operational efficiencies.

• Total revenues for Q2 2025 were $825 million, marking a 16% increase year-over-year, primarily driven by strong VOXZOGO sales and growth in Enzyme Therapies.
• GAAP Net Income surged by 125% to $241 million, and Non-GAAP Income increased by 49% to $282 million, reflecting significant profitability expansion.

Kyndryl reported revenues of $3.74 billion for the first quarter of fiscal year 2026, with net income of $56 million and diluted EPS of $0.23. The company saw significant increases in adjusted EBITDA and adjusted net income, driven by contributions from Kyndryl Consult and hyperscaler-related activities. Kyndryl reaffirmed its fiscal 2026 outlook for revenue, earnings, and free cash flow.

• Revenues for the quarter ended June 30, 2025, totaled $3.74 billion, showing slight year-over-year growth.
• Net income increased significantly to $56 million, or $0.23 per diluted share, compared to $11 million in the prior-year period.

Vornado Realty Trust experienced a substantial increase in net income for Q2 2025, largely due to an $803.2 million gain from the 770 Broadway master lease with NYU. While GAAP EPS saw a significant rise, non-GAAP FFO per diluted share slightly decreased compared to the prior year's quarter. The company also reported varied performance across its property segments, with strong occupancy in New York Office and 555 California Street.

• Net income attributable to common shareholders surged to $743.8 million, or $3.70 per diluted share, primarily due to an $803.2 million gain from the 770 Broadway master lease with NYU.
• Funds From Operations (FFO) attributable to common shareholders plus assumed conversions (non-GAAP) was $120.9 million, or $0.60 per diluted share, a decrease from $0.76 per diluted share in the prior year's quarter.

Allison Transmission announced strong second quarter 2025 results with net income up 4% year over year to $195 million and diluted EPS reaching a record $2.29, an 8% increase. The company's net sales were $814 million, with growth in Defense and Outside North America On-Highway segments, partially offset by declines in North America On-Highway and Global Off-Highway.

• Net Income increased by 4% year over year to $195 million, representing 24% of Net Sales.
• Diluted EPS reached a record $2.29, an 8% increase compared to the prior year.

BellRing Brands posted higher revenues in Q3 2025, driven by volume and pricing gains. However, a legal settlement provision significantly lowered GAAP earnings. Adjusted earnings remained strong, supported by increased household penetration and innovation across the portfolio.

• Premier Protein sales increased 6.0% year-over-year in the quarter.
• Volume grew 3.5% and price/mix improved 2.7%, boosting net sales.

Lattice Semiconductor delivered a strong second quarter in 2025, with revenue of $124.0 million, a GAAP gross margin of 68.4%, and GAAP net income of $2.9 million. The company also reported a non-GAAP diluted EPS of $0.24 and an adjusted EBITDA margin of 34.1%. Growth was seen across key financial metrics, with solid performance in communications and computing markets and anticipated recovery in industrial and automotive markets.

• Revenue for Q2 2025 was $124.0 million, showing sequential growth.
• GAAP net income was $2.9 million, with a diluted EPS of $0.02.

Sterling Infrastructure delivered outstanding second quarter results, achieving record net income and adjusted EBITDA. Strong performance was driven by growth in E-Infrastructure and Transportation segments, while Building Solutions faced modest headwinds.

• Revenue reached $614,468,000, with a 21% increase YoY excluding RHB.
• Net income grew to $71,000,000, a 37% increase YoY.

MSA Safety reported a 3% GAAP increase in quarterly net sales to $474.1 million, with flat organic growth year-over-year. GAAP diluted EPS was $1.59, while adjusted diluted EPS reached $1.93. The company maintained a strong balance sheet, enabling the acquisition of M&C TechGroup and continued capital returns to shareholders.

• Net sales for Q2 2025 reached $474.1 million, marking a 3% GAAP increase year-over-year, though organic sales remained flat.
• GAAP diluted EPS was $1.59, and adjusted diluted EPS was $1.93, reflecting a 13% and 4% decrease respectively compared to the prior year.

Wayfair reported a profitable Q2 2025 with net income of $15 million and revenue reaching $3.27 billion, driven by solid U.S. performance and margin expansion.

• Generated $3.27 billion in revenue, a 5% increase YoY.
• Achieved net income of $15 million, reversing a loss in the prior year.

Air Lease posted strong results for Q2 2025, driven by a $344 million insurance recovery, solid aircraft rental growth, and improved profitability. Adjusted metrics rose modestly, with robust leasing demand and ongoing fleet expansion.

• Reported $344 million gain from insurance recoveries related to Russian fleet.
• Rental of flight equipment revenue rose to $679 million, boosted by lease growth and end-of-lease revenue.

JBT Marel Corporation delivered strong second quarter 2025 results, with revenue reaching $935 million and adjusted EBITDA of $156 million. The company exceeded its guidance, driven by better-than-expected recurring revenue and favorable foreign exchange. Diluted EPS was $0.07, and adjusted EPS was $1.49. The company also re-established its full-year 2025 guidance, reflecting clarity on tariff policies and a strong backlog.

• Achieved quarterly orders of $938 million and quarter-ending backlog of $1.4 billion, indicating strong demand.
• Reported total revenue of $935 million, with over half generated from recurring revenue, highlighting a stable revenue base.

Ryman Hospitality Properties, Inc. achieved an all-time quarterly record consolidated revenue of $659.5 million in Q2 2025. Despite a decrease in net income and operating income compared to the prior year, the company demonstrated strong cost management and efficient capital deployment, including the acquisition of JW Marriott Phoenix Desert Ridge Resort & Spa. The Entertainment segment also delivered record revenue, benefiting from recent investments.

• Consolidated revenue reached an all-time quarterly record of $659.5 million, a 7.5% increase year-over-year.
• Net income decreased by 27.6% to $75.9 million, and operating income declined by 17.0% to $139.4 million, primarily due to challenging year-over-year comparisons including one-time franchise tax refunds in Q2 2024 and a shift in group mix.

In Q2 2025, Bruker posted revenue of $797.4 million and flat GAAP EPS, with pressures from U.S. academic and biopharma markets. The company launched a major cost-reduction plan aiming for a stronger FY2026.

• Revenue was $797.4M, down slightly from last year.
• GAAP EPS held steady at $0.05; Non-GAAP EPS declined to $0.32.

Trex delivered Q2 2025 revenue growth of 3% year-over-year, powered by successful new product launches and strong channel performance. However, gross margin declined due to temporary production adjustments and facility startup costs. Net income fell year-over-year, though adjusted results were more stable.

• Q2 revenue reached $388 million, a 3% increase from Q2 2024.
• Gross profit was $158 million, or 40.8% margin; adjusted gross profit was $161 million.

Viper Energy, Inc. announced strong second quarter 2025 results, with significant increases in oil and combined production volumes. The company reported a net income of $84 million and an EPS of $0.28. Strategic moves included the closing of a drop-down transaction and an offering of senior notes, alongside ongoing plans for the Sitio Royalties Corp. acquisition, which is expected to further boost production and solidify its market position.

• Q2 2025 average oil production increased to 41,615 bo/d, and combined production reached 79,286 boe/d.
• Net income attributable to Viper Energy, Inc. was $37 million, resulting in an EPS of $0.28 per Class A common share.

Icahn Enterprises saw higher revenue in Q2 2025 and a smaller net loss compared to the prior year. Although the company remained in the red, its Adjusted EBITDA loss significantly narrowed year over year.

• Revenue rose to $2.369 billion in Q2 2025, up from $2.201 billion in Q2 2024.
• Net loss attributable to Icahn Enterprises narrowed to $165 million from $331 million a year earlier.

New Jersey Resources reported a consolidated net loss of $(15.1) million, or $(0.15) per share, in the third quarter of fiscal 2025. Despite the net loss, the company achieved consolidated net financial earnings (NFE) of $6.2 million, or $0.06 per share, a significant improvement compared to a net financial loss in the prior year. The company also raised the lower end of its fiscal 2025 net financial earnings per share (NFEPS) guidance, reflecting confidence in its diversified business model and operational resilience.

• Consolidated net loss for Q3 fiscal 2025 was $(15.1) million, or $(0.15) per share.
• Consolidated net financial earnings (NFE) for Q3 fiscal 2025 were $6.2 million, or $0.06 per share, an improvement from a net financial loss in the prior year.

Tower Semiconductor delivered a strong Q2 with revenue reaching $372 million and net income of $47 million, driven by momentum in RF infrastructure related to AI and data centers.

• Revenue grew to $372 million, with 4% QoQ and 6% YoY growth.
• Net income rose to $47 million, up from $40 million in Q1.

Archrock delivered an outstanding second quarter in 2025, with significant increases in revenue, net income, and adjusted EBITDA compared to the prior year. The company successfully completed the acquisition of NGCS, grew its operating horsepower, and maintained a high utilization rate. Strong customer demand and a robust contract compression backlog contributed to the positive performance, leading to an increase in full-year adjusted EBITDA guidance and enhanced shareholder returns through increased dividends and share repurchases.

• Revenue for Q2 2025 increased by 41.6% to $383.2 million, up from $270.5 million in Q2 2024.
• Net income rose by 84.2% to $63.4 million, and adjusted EBITDA increased by 64% to $212.7 million, demonstrating strong profitability.

Sabra Health Care REIT delivered a productive second quarter in 2025, with significant increases in net income and FFO per share compared to the prior year. The company saw strong investment activity, improved rent coverage across its triple-net segments, and successfully transitioned managed senior housing properties to new operators. Leverage decreased, and the company updated its full-year 2025 guidance.

• Net Income per diluted common share increased to $0.27 in Q2 2025 from $0.10 in Q2 2024.
• Normalized FFO per diluted common share was $0.37 and Normalized AFFO per diluted common share was $0.38 for Q2 2025.

Palomar Holdings delivered a robust performance in the second quarter of 2025, driven by a 28.8% increase in gross written premiums and a 80.8% surge in net income. The company's adjusted net income also saw a substantial rise of 51.8%, reflecting strong execution of its strategic initiatives and effective reinsurance program management.

• Gross written premiums increased by 28.8% to $496.3 million, demonstrating strong top-line growth.
• Net income rose significantly by 80.8% to $46.5 million, indicating improved profitability.

Paymentus delivered robust second-quarter results, with revenue reaching $280.1 million, a 41.9% increase year-over-year, driven by an expanded biller base and higher transaction volumes. The company also saw substantial growth in adjusted EBITDA, which rose 40.7% to $31.7 million, representing a 33.9% adjusted EBITDA margin. Net income increased to $14.7 million, and diluted GAAP EPS was $0.11.

• Revenue for Q2 2025 was $280.1 million, marking a 41.9% increase year-over-year, primarily due to more billers and higher transaction volumes.
• Adjusted EBITDA grew by 40.7% year-over-year to $31.7 million, achieving a 33.9% adjusted EBITDA margin.

Primoris Services Corporation delivered a robust second quarter in 2025, with revenue climbing 20.9% to $1.89 billion and net income increasing by 70.2% to $84.3 million. Adjusted EPS rose to $1.68, and Adjusted EBITDA grew by 32.2% to $154.8 million, reflecting strong performance in both the Energy and Utilities segments and improved margins in Utilities.

• Revenue increased by 20.9% to $1,890.7 million in Q2 2025 compared to Q2 2024, primarily due to growth in the Energy and Utilities segments.
• Net income rose significantly by 70.2% to $84.3 million, resulting in diluted EPS of $1.54, up from $0.91 in the prior year.

Cabot Corporation delivered a strong financial performance in the third quarter of fiscal year 2025, achieving an Adjusted EPS of $1.90 despite a challenging demand environment. The company focused on disciplined execution, managing pricing and costs, and leveraging its global footprint to respond to uncertainties from tariffs and a weaker global macroeconomic environment. While Reinforcement Materials EBIT saw a decline, Performance Chemicals EBIT increased, and the company generated strong operating cash flow.

• Diluted EPS was $1.86 and Adjusted EPS was $1.90, representing a 1% decrease in Adjusted EPS compared to the prior year's same quarter.
• Reinforcement Materials segment EBIT decreased by 6% to $128 million, primarily due to lower volumes in Asia Pacific and the Americas.

Inspire Medical Systems reported second quarter 2025 revenue of $217.1 million, an 11% increase from the prior year. Despite the revenue growth, the company experienced a net loss of $3.6 million and an operating loss of $3.3 million, primarily due to increased operating expenses and a non-cash impairment. Adjusted net income was $13.3 million, and adjusted diluted EPS was $0.45.

• Revenue for Q2 2025 reached $217.1 million, marking an 11% increase compared to the same period last year.
• The company reported a net loss of $3.6 million and an operating loss of $3.3 million for the quarter.

Krystal Biotech delivered a robust second quarter in 2025, with net product revenue reaching $96.0 million, primarily from VYJUVEK. The company achieved a net income of $38.3 million and an EPS of $1.29 (diluted). Key highlights include the approval of VYJUVEK in Japan and Europe, alongside advancements in its diverse pipeline across respiratory, ophthalmology, oncology, and aesthetics.

• VYJUVEK net product revenue for Q2 2025 was $96.0 million, demonstrating strong commercial performance.
• The company reported a net income of $38.3 million and diluted EPS of $1.29 for the quarter.

Dorman Products, Inc. delivered an outstanding second quarter in 2025, with net sales increasing by 7.6% to $541.0 million and diluted EPS rising by 25% to $1.91. The strong performance was primarily driven by robust demand in the Light Duty business and effective cost-saving initiatives, leading the company to raise its full-year 2025 guidance for both net sales and diluted EPS.

• Net sales for Q2 2025 reached $541.0 million, marking a 7.6% increase from $503.0 million in Q2 2024.
• Diluted EPS grew by 25% to $1.91 in Q2 2025, up from $1.53 in the prior year's second quarter.

Mueller Water Products delivered strong Q3 2025 results with record net sales of $380.3M and higher profitability, including improved margins and earnings. The company increased guidance for net sales and adjusted EBITDA for the full fiscal year.

• Revenue grew 6.6% year-over-year to $380.3 million, driven by higher volumes and pricing.
• Net income rose to $52.5 million with a margin of 13.8%.

Freshpet posted strong Q2 2025 results, achieving profitability with $16.4 million in net income and growing revenue to $264.7 million. Operational efficiencies and reduced SG&A helped expand margins amid economic pressures.

• Revenue grew to $264.7 million, driven by volume gains and favorable pricing.
• Net income reached $16.4 million, reversing a net loss from the prior year.

ZoomInfo delivered a strong second quarter in 2025, with GAAP revenue increasing by 5% year-over-year to $306.7 million. The company achieved a GAAP operating income of $53.7 million and a non-GAAP adjusted operating income of $104.7 million. Key improvements were noted in renewal and retention rates, expansion with large customers, and accelerated growth in the Upmarket segment.

• GAAP Revenue reached $306.7 million, marking a 5% increase year-over-year.
• GAAP Operating Income was $53.7 million, with an 18% margin, while Adjusted Operating Income was $104.7 million, with a 34% margin.

Tanger delivered robust performance in Q2 2025, with significant increases in net income and FFO per share compared to the prior year. The company's strategic focus on leasing, operations, and marketing, including attracting new retailers and enhancing shopper engagement, contributed to strong occupancy rates and positive rent spreads. Tanger also maintained a low-leveraged balance sheet, providing flexibility for future growth.

• Net income available to common shareholders increased to $29.9 million, or $0.26 per share, up from $24.6 million, or $0.22 per share, in the prior year period.
• Funds From Operations (FFO) available to common shareholders rose to $68.6 million, or $0.58 per share, compared to $60.9 million, or $0.53 per share, in the prior year period.

Boise Cascade saw a 45% decline in net income for Q2 2025, impacted by lower EWP and plywood prices, higher conversion costs, and muted housing demand. Revenue fell slightly year-over-year, with distribution margins remaining relatively resilient.

• Q2 2025 revenue was $1.74 billion, down 3% from $1.80 billion in Q2 2024
• Net income fell to $62.0 million from $112.3 million a year ago

Otter Tail Corporation experienced a mixed second quarter in 2025. While the Electric segment saw increased revenues and net income, the Manufacturing and Plastics segments faced headwinds, leading to an overall decrease in consolidated operating revenues and net income. The company is optimistic about its future, raising its full-year diluted EPS guidance.

• Consolidated operating revenues decreased by 2.7% to $333.043 million in Q2 2025 compared to $342.336 million in Q2 2024.
• Net income for Q2 2025 was $77.728 million, a decrease from $86.995 million in Q2 2024.

Oddity Tech delivered a record-breaking Q2 2025, beating guidance across all metrics. Strong performance in online sales and upcoming brand launches contributed to optimism as the company raised its full-year forecast.

• Q2 revenue reached a record $241M, surpassing guidance.
• Adjusted EPS came in at $0.92, beating expectations.

IAC delivered solid Q2 2025 results with $587 million in revenue and a net income of $211 million, reversing last year's loss. Operating income was slightly positive, driven by People Inc.'s digital growth and a strong gain from its MGM investment.

• Revenue declined 7% YoY to $586.9 million.
• Net income reached $211.5 million, boosted by a $307.4 million unrealized gain from MGM investment.

The company reported $159.5 million in total revenue and $120 million in net income, supported by a substantial gain on commodity derivatives. Production declined slightly, leading to a reduced distribution of $0.30 per unit.

• Total production averaged 34.6 MBoe/d, down from 35.5 MBoe/d in Q1 2025.
• Oil and gas revenue totaled $102 million, with oil contributing 55%.

Transocean Ltd. reported a substantial net loss of $938 million in Q2 2025, largely driven by a $1.128 billion loss on impairment of assets. However, contract drilling revenues increased sequentially to $988 million, and adjusted EBITDA rose to $344 million, reflecting improved rig utilization and revenue efficiency. The company also generated $104 million in free cash flow.

• Net loss attributable to controlling interest was $938 million, or $1.06 per diluted share, primarily due to a $1.128 billion asset impairment loss.
• Contract drilling revenues increased by $82 million sequentially to $988 million, driven by higher rig utilization and improved revenue efficiency.

National Storage Affiliates Trust experienced a challenging second quarter in 2025, with net income decreasing by 4.1% to $31.0 million and diluted EPS rising to $0.19. Core FFO per share declined by 11.3% to $0.55, largely due to a 6.1% decrease in same store net operating income, driven by lower revenues and higher operating expenses. The company noted ongoing softness in storage demand and increased use of concessions impacting results, but also highlighted sequential improvements in contract rate and occupancy.

• Net income for Q2 2025 was $30.958 million, a 4.1% decrease compared to Q2 2024.
• Diluted earnings per share increased to $0.19 in Q2 2025 from $0.16 in Q2 2024.

Marriott Vacations Worldwide delivered strong results in the second quarter of 2025, with consolidated contract sales of $445 million, net income of $69 million, and adjusted diluted EPS of $1.96. The company reiterated its full-year outlook, reflecting the resilience of its business model and continued prioritization of travel by leisure consumers.

• Consolidated contract sales reached $445 million in Q2 2025, showing a slight year-over-year decline of less than 1%.
• Net income attributable to common stockholders was $69 million, an 89% increase compared to the prior year.

Tidewater delivered solid performance in Q2 2025 with increased vessel revenues, improved average day rates, and a gross margin over 50%. Net income rose significantly, aided by FX gains and reversal of a valuation allowance. Free cash flow was strong, and the company launched a major share repurchase program.

• Revenue reached $341.4 million, slightly up from Q2 2024.
• Net income increased to $72.9 million, supported by a $27 million non-cash tax benefit.

SiriusPoint delivered a strong second quarter in 2025, marked by an improved Core combined ratio of 89.5% and an 83% year-over-year growth in Core underwriting income. The company also achieved a 10% increase in Core gross premiums written, demonstrating consistent top-line growth and exceeding its underlying return on equity target.

• Core combined ratio improved to 89.5% in Q2 2025, a 3.8 point improvement from the prior year.
• Core underwriting income grew by 83% year-over-year to $68 million in Q2 2025.

BioCryst Pharmaceuticals delivered its best financial performance in company history during the second quarter of 2025, primarily due to better-than-expected revenue growth from ORLADEYO and substantial operating profit. The company also strengthened its financial position through an additional debt paydown and plans to retire all remaining term debt with proceeds from the sale of its European ORLADEYO business.

• ORLADEYO net revenue reached $156.8 million in Q2 2025, marking a 45 percent year-over-year increase.
• Operating income for Q2 2025 was $29.8 million, a significant increase of 239 percent compared to the same period last year.

Addus HomeCare reported a robust second quarter in 2025, with net service revenues increasing by 21.8% to $349.4 million and adjusted EBITDA growing by 24.5% to $43.9 million. The company's personal care segment was a primary growth driver, supported by organic growth and recent acquisitions.

• Net service revenues increased by 21.8% year-over-year to $349.4 million in Q2 2025.
• Adjusted EBITDA grew by 24.5% year-over-year, reaching $43.9 million.

UFP Technologies posted a robust second quarter, achieving record sales and profitability metrics. Growth was driven by acquisitions and organic expansion in the MedTech segment. Gross margin slightly declined due to labor inefficiencies, but adjusted metrics reflected strong operational leverage.

• Revenue grew to $151.2 million, a 37% increase from Q2 2024.
• Net income rose to $17.2 million, or $2.21 per diluted share.

Danaos Corporation experienced an increase in operating revenues for the second quarter of 2025, driven by growth in both container and drybulk vessel segments. However, net income and adjusted net income saw a decline primarily due to increased operating expenses and finance expenses. The company maintained strong fleet utilization and a disciplined capital allocation strategy, adding a new container vessel to its orderbook with a secured long-term charter.

• Operating revenues increased by $15.9 million to $262.2 million in Q2 2025, up from $246.3 million in Q2 2024.
• Net income decreased to $130.9 million in Q2 2025 from $141.2 million in Q2 2024.

LTC Properties saw a $10.1M increase in revenue, largely from SHOP portfolio expansions, but net income declined due to higher operating and transaction costs. Core FFO and Core FAD improved, supported by growth initiatives and a strong investment pipeline.

• Revenue rose to $60.24 million due to conversion of triple-net leases to SHOP.
• Net income declined to $14.94 million, down from $19.19 million in Q2 2024.

Sitio Royalties reported a net income of $14.5 million and an Adjusted EBITDA of $125.4 million for the second quarter of 2025. The company's total average daily production was 41.9 thousand barrels of oil equivalent per day, with oil production at 19.3 thousand barrels per day. The company also turned-in-line 8.7 net wells and closed $6.0 million in acquisitions.

• Second quarter 2025 net income was $14.5 million, and Adjusted EBITDA reached $125.4 million.
• Total average daily production for Q2 2025 was 41,879 Boe/d, with oil production at 19,300 Bbls/d.

Bladex delivered a strong Q2 2025, reporting $64.2M in net income and $1.73 in EPS. Record fee income, growth in its commercial and investment portfolios, and healthy liquidity and capital metrics highlighted the quarter’s results.

• Net profit for Q2 2025 reached $64.2 million, up 28% YoY.
• Earnings per share increased to $1.73 from $1.36 in Q2 2024.

Ingevity's second quarter 2025 results showed a 7% decline in net sales to $365.1 million, primarily due to lower sales in Performance Chemicals. The company reported a net loss of $146.5 million and diluted loss per share of $4.02, largely impacted by a $183.8 million non-cash goodwill impairment charge related to Advanced Polymer Technologies. However, adjusted earnings increased by 39% to $51.1 million, and adjusted EBITDA rose by 9% to $110.0 million, with the adjusted EBITDA margin improving to 30.1%, driven by successful repositioning actions in Performance Chemicals.

• Net sales for Q2 2025 were $365.1 million, a 7% decrease compared to the prior year, mainly due to lower sales in Performance Chemicals.
• The company reported a net loss of $146.5 million and diluted loss per share of $4.02, which included a significant $183.8 million pre-tax non-cash goodwill impairment charge for Advanced Polymer Technologies.

Energizer delivered strong Q3 results with $725.3M in revenue and a sharp rise in EPS, benefiting from production credits and Project Momentum savings.

• Reported EPS surged to $2.13 and Adjusted EPS to $1.13, helped by production credits.
• Net income rebounded strongly to $153.5M from a $43.8M loss last year.

V2X delivered strong second quarter 2025 financial results, with revenue reaching $1.08 billion and net income at $22.4 million. The company saw significant year-over-year growth in adjusted net income and adjusted diluted EPS, and increased its full-year adjusted EPS guidance, reflecting confidence in its operational execution and market position.

• Revenue for the second quarter of 2025 was $1.08 billion, showing a slight increase compared to the prior year.
• Net income for the quarter was $22.4 million, a substantial improvement from a loss in the prior year, while adjusted net income increased by 61% year-over-year to $42.3 million.

Olo Inc. reported a strong second quarter in 2025, with total revenue increasing by 22% year-over-year to $85.7 million, exceeding guidance. The company also announced a definitive agreement to be acquired by Thoma Bravo for approximately $2.0 billion in equity value.

• Total revenue increased 22% year-over-year to $85.7 million, surpassing the high-end of guidance.
• Non-GAAP operating income reached $13.1 million, also exceeding the high-end of guidance.

Navitas Semiconductor faced revenue decline and a larger GAAP net loss in Q2 2025. Despite challenges, the company emphasized a strategic shift toward AI data centers and energy infrastructure, including a capital raise and new manufacturing partnership.

• Revenue declined to $14.5M, down from $20.5M YoY.
• GAAP net loss widened to $49.1M.

Semrush announced its second quarter 2025 financial results, reporting revenue of $108.9 million, a 20% increase year-over-year. The company experienced a loss from operations of $4.3 million, compared to an income of $3.4 million in the prior year. Non-GAAP income from operations was $12.0 million. Key highlights include significant growth in customers paying over $50,000 annually and the announcement of a $150 million share repurchase program.

• Revenue for Q2 2025 reached $108.9 million, marking a 20% increase year-over-year.
• The company reported a GAAP operating loss of $4.3 million, contrasting with an operating income of $3.4 million in the same period last year.

The Andersons reported Q2 2025 net income of $7.9M and EPS of $0.23, down significantly from the prior year. Adjusted EBITDA fell to $65.2M, impacted by weaker agribusiness margins and lower ethanol co-product values. The company also acquired full ownership of The Andersons Marathon Holdings LLC.

• Net income attributable to The Andersons was $7.9M, down from $36.0M in Q2 2024.
• Adjusted EBITDA declined to $65.2M from $98.3M YoY.

Alexander's, Inc. reported a net income of $6.1 million for the second quarter of 2025, a decrease from $8.4 million in the prior year. Funds from Operations (FFO) also saw a decline, reaching $14.8 million compared to $17.0 million in Q2 2024. Revenues for the quarter were $51.6 million, down from $53.4 million in the same period last year.

• Net income for Q2 2025 was $6.1 million, a decrease from $8.4 million in Q2 2024.
• Diluted EPS for Q2 2025 was $1.19, down from $1.63 in Q2 2024.

Helios Technologies delivered second quarter net sales of $212.5 million, a 3% decrease year-over-year, but a 9% sequential increase. The company expanded its gross margin by 120 basis points sequentially and operating margin by 160 basis points due to strong cost discipline. Diluted EPS was $0.34 and Non-GAAP EPS was $0.59. Helios generated $37 million in cash from operations, reduced debt for the eighth consecutive quarter, and improved its net debt to adjusted EBITDA ratio to 2.6x.

• Net sales for Q2 2025 were $212.5 million, down 3% year-over-year but up 9% sequentially.
• Gross margin expanded 120 basis points sequentially and operating margin expanded 160 basis points sequentially.

Centerspace reported a Q2 2025 net loss of $0.87 per share but improved Core FFO to $1.28 per share. Same-store NOI rose by 2.9% and weighted average occupancy improved to 96.1%. The company also expanded its portfolio with new acquisitions.

• Core FFO per share increased to $1.28, up from $1.27 in Q2 2024.
• Same-store NOI rose 2.9% YoY, driven by 2.7% revenue growth.

Kosmos Energy posted a net loss of $88 million for Q2 2025, with revenues declining compared to the prior year. Despite this, the company made significant operational progress including achieving commercial operations at its GTA LNG project.

• Net loss of $88 million and adjusted EPS of -$0.19.
• Revenue for the quarter was $393 million, down from $451 million in Q2 2024.

ThredUp achieved record quarterly revenue of $77.7 million, a 16% increase year-over-year, driven by significant growth in active buyers and orders. The company also improved its gross margin and adjusted EBITDA from continuing operations, ending the quarter with a healthy cash position.

• Record quarterly revenue reached $77.7 million, marking a 16% increase year-over-year.
• Gross profit increased by 17% year-over-year, with gross margin improving to 79.5%.

Allegiant Travel Company experienced a challenging second quarter in 2025, reporting a net loss of $65.2 million and a GAAP diluted loss per share of $(3.62). Despite a 3.5% increase in total operating revenue to $689.4 million, operating expenses surged by 19.9%, largely due to $117.9 million in special charges, predominantly from the Sunseeker Resort sale. The airline segment, however, showed an adjusted operating margin of 8.6% and improved unit costs excluding fuel and special charges.

• Total operating revenue increased by 3.5% year-over-year to $689.4 million.
• The company reported a GAAP diluted loss per share of $(3.62) and a net loss of $65.2 million, significantly impacted by $103.3 million in special charges related to the Sunseeker Resort sale.

Vitesse Energy reported a strong second quarter in 2025, with net income of $24.7 million and Adjusted EBITDA of $61.1 million. The company saw a significant increase in production to 18,950 Boe per day, primarily due to the integration of Lucero assets. Strategic financial moves included settling a multi-year lawsuit for $24 million and using free cash flow to reduce total debt to $106.0 million, resulting in a Net Debt to Adjusted EBITDA ratio of 0.43.

• Net income reached $24.7 million, with Adjusted Net Income at $18.4 million.
• Production volume increased by 27% sequentially to 18,950 Boe per day, with oil comprising 65% of total production.

Hagerty posted double-digit revenue and income growth in Q2 2025, with exceptional gains in Marketplace revenue, leading to improved operating income and a raised full-year outlook.

• Total revenue rose 18% year-over-year to $368.7 million
• Marketplace revenue surged 327% year-over-year to $26.8 million

EverQuote delivered strong second-quarter results, with revenue increasing 34% year-over-year to $156.6 million. The company achieved record net income of $14.7 million and record adjusted EBITDA of $22.0 million, driven by disciplined expense management and leveraging AI and other technology investments.

• Total revenue grew 34% year-over-year to $156.6 million.
• Net income increased to a record $14.7 million, up from $6.4 million in Q2 2024.

Ardelyx delivered an outstanding second quarter in 2025, generating $97.7 million in total revenue, a 33% increase year-over-year. Both commercial products, IBSRELA and XPHOZAH, showed significant results, with IBSRELA recording its highest revenue quarter at $65.0 million and XPHOZAH generating $25.0 million. The company ended the quarter with $238.5 million in cash, cash equivalents, and investments, and raised its 2025 IBSRELA net sales revenue expectations.

• Total revenue for Q2 2025 reached $97.7 million, marking a 33% increase compared to Q2 2024.
• IBSRELA net sales revenue was $65.0 million, reflecting an 84% year-over-year growth.

Unitil Corporation reported a net income of $4.0 million and EPS of $0.25 for the second quarter of 2025, a slight decrease from the previous year. However, the company's adjusted net income, which excludes acquisition-related costs, increased to $4.7 million, or $0.29 per share, demonstrating strong operational performance despite the one-time expenses.

• Net Income for Q2 2025 was $4.0 million, a decrease of $0.3 million compared to Q2 2024.
• Adjusted Net Income for Q2 2025 was $4.7 million, an increase of $0.4 million compared to Q2 2024, driven by higher rates and customer growth.

HealthStream delivered a strong second quarter in 2025, achieving record quarterly revenues of $74.4 million, a 4.0% increase year-over-year. The company also saw significant growth in operating income, net income, and diluted EPS, alongside a substantial increase in Adjusted EBITDA. The Board of Directors authorized and partially executed a $25.0 million share repurchase program and declared a quarterly cash dividend.

• Record quarterly revenues reached $74.4 million, marking a 4.0% increase from the prior year.
• Operating income surged by 33.4% to $5.9 million, driven by increased revenues, sublease income, and lower bad debt expense.

Ameresco delivered a strong second quarter in 2025, with total revenue increasing by 8% to $472.3 million and Adjusted EBITDA growing by 24% to $56.1 million. The company's performance was bolstered by continued growth in Europe and its Energy Asset business, leading to a record total project backlog exceeding $5.1 billion.

• Total revenue for Q2 2025 reached $472.3 million, an 8% increase year-over-year, exceeding expectations.
• Adjusted EBITDA significantly increased by 24% to $56.1 million, demonstrating strong operating leverage.

SI-BONE delivered a robust second quarter in 2025, with worldwide revenue increasing by 21.7% to $48.6 million. The company achieved positive Adjusted EBITDA of $1.0 million and generated $1.1 million in net cash, demonstrating strong operational performance and disciplined execution. Net loss improved by 31.2% to $6.2 million.

• Worldwide revenue grew by 21.7% to $48.6 million, driven by strong U.S. performance.
• Achieved positive Adjusted EBITDA of $1.0 million, a significant improvement from a loss in the prior year.

Vimeo delivered solid Q2 2025 results, highlighted by a return to profitability, robust performance in its enterprise segment, and momentum in self-serve bookings. Operating income and cash flow improved sequentially.

• Net income reached $6.3 million, recovering from a loss in Q1.
• Total revenue held steady at $104.65 million.

Douglas Dynamics delivered strong second quarter 2025 results, with consolidated net income improving by 6.6% to $26.0 million. The Work Truck Solutions segment achieved record top- and bottom-line results, with 5.4% net sales growth and 39.8% Adjusted EBITDA growth, offsetting expected lower volumes in the Work Truck Attachments segment due to shipment timing. The company also returned approximately $13 million to shareholders and significantly improved its leverage ratio.

• Consolidated Net Income increased by 6.6% to $26.0 million, or $1.09 per diluted share, compared to Q2 2024.
• The Work Truck Solutions segment achieved record second quarter results with a 5.4% increase in Net Sales and a 39.8% increase in Adjusted EBITDA.

Lindblad Expeditions delivered robust performance in Q2 2025, with a 23% increase in total tour revenues and a substantial 139% surge in Adjusted EBITDA. The growth was fueled by strong contributions from both the Lindblad and Land Experiences segments, alongside improved occupancy and net yield.

• Total tour revenues increased by 23% to $167.9 million compared to Q2 2024.
• Adjusted EBITDA saw a significant 139% increase, reaching $24.8 million.

Castle Biosciences delivered a strong second quarter in 2025, achieving $86 million in revenue. The company saw solid year-over-year test volume growth in its core revenue drivers, DecisionDx-Melanoma and TissueCypher, which exceeded expectations. This performance led to an upward revision of the full-year 2025 revenue guidance.

• Q2 2025 revenue reached $86 million, demonstrating strong top-line performance.
• Total test reports for core revenue drivers (DecisionDx-Melanoma, TissueCypher) increased by 33% over Q2 2024.

SES AI reported second quarter revenue of $3.5 million, contributing to a total of $9.3 million in the first half of 2025. The company achieved a strong gross margin of 74% and significantly reduced cash used in operations. SES AI also affirmed its 2025 revenue guidance of $15 million to $25 million and expanded its market reach through the acquisition of UZ Energy.

• Second quarter revenue reached $3.5 million, contributing to $9.3 million in the first half of 2025.
• Gross Margin stood at a strong 74%, primarily driven by service performance.

Tactile Systems Technology, Inc. delivered strong financial performance in the second quarter of 2025, with total revenue increasing by 7.8% year-over-year to $78.9 million, exceeding expectations. The growth was primarily driven by a significant increase in airway clearance product sales. Despite the revenue growth, net income and adjusted EBITDA saw declines compared to the prior year, attributed to planned strategic investments.

• Total revenue for Q2 2025 increased by 7.8% year-over-year, reaching $78.9 million.
• Gross margin improved to 75% in Q2 2025, up from 74% in Q2 2024, primarily due to lower manufacturing and warranty costs.

Denny's Corporation delivered a mixed performance in Q2 2025. While total operating revenue increased slightly, net income and EPS saw a decline compared to the prior year. Keke's demonstrated strong same-restaurant sales growth, partially offsetting a decline in Denny's domestic system-wide same-restaurant sales. The company focused on strategic initiatives including value innovation, off-premises strength, and optimizing its franchise system, alongside corporate administrative expense savings.

• Total operating revenue increased to $117.7 million, up from $115.9 million in the prior year quarter, primarily driven by additional Keke's company equivalent units.
• Net income was $2.5 million, or $0.05 per diluted share, a decrease from $3.6 million, or $0.07 per diluted share, in the prior year quarter.

PLAYSTUDIOS reported a challenging second quarter with revenue of $59.3 million, down from $72.6 million in the prior year, and a net loss of $2.9 million. Despite market headwinds, the company emphasized growing traction in its direct-to-consumer channel and promising early momentum in its sweepstakes initiative, alongside continued development of Tetris Block Party.

• Revenue for Q2 2025 was $59.3 million, a significant decrease from $72.6 million in Q2 2024.
• The company reported a net loss of $2.9 million for the quarter, compared to a net loss of $2.6 million in the same period last year.

Medifast experienced a challenging second quarter in 2025, with revenue decreasing by 37.4% to $105.6 million and net income falling to $2.5 million. The decline was largely attributed to a significant reduction in the number of active earning OPTAVIA coaches and lower average revenue per coach, reflecting broader market challenges including the impact of GLP-1 medications.

• Revenue for Q2 2025 was $105.6 million, a 37.4% decrease from $168.6 million in Q2 2024.
• Net income for the quarter was $2.5 million, or $0.22 per diluted share, which included a $2.0 million gain on investment in LifeMD.

CVRx delivered solid second quarter results, with total revenue reaching $13.6 million, a 15% increase year-over-year. The company saw continued growth in its U.S. Heart Failure business, driven by expansion into new sales territories and increased awareness of Barostim. Despite an increase in operating expenses, the company's gross profit also grew by 16%.

• Total revenue for Q2 2025 was $13.6 million, marking a 15% increase compared to the same period last year.
• U.S. Heart Failure revenue reached $12.1 million, also up 15% year-over-year, driven by increased units sold.

CVG experienced a challenging second quarter in 2025 with revenues down 11.2% to $172.0 million, primarily due to softening global demand across all segments. The company reported a net loss from continuing operations of $4.1 million and diluted EPS of $(0.12). Despite these declines, CVG achieved strong free cash flow of $17.3 million, a significant increase from the prior year, driven by improved working capital management. Adjusted EBITDA also decreased by 36.6% to $5.2 million.

• Revenues for Q2 2025 were $172.0 million, an 11.2% decrease year-over-year, attributed to softening global demand.
• The company reported a net loss from continuing operations of $4.1 million, or $(0.12) per diluted share, compared to a net loss of $1.3 million, or $(0.04) per diluted share, in the prior year.

Offerpad reported revenue of $160.3 million and sold 452 homes in Q2 2025, demonstrating operational discipline and strong momentum in its asset-light services. The company improved its Adjusted EBITDA loss sequentially and strengthened its balance sheet with a recent capital raise.

• Offerpad raised $21 million in July, increasing total liquidity to over $75 million and strengthening its balance sheet.
• The HomePro program has expanded to all markets, driving strong engagement by offering diverse selling solutions.

Revenue for Q2 2025 was $8.71M, down 20.8% YoY, as higher Tranglo remittance volumes offset declines in global and Indonesian airtime revenues. Tranglo's TPV rose to $1.46B, up 6.9% YoY, with an improved take rate of 0.36%. Net loss attributable to shareholders was $4.66M, or $0.10 per share. Gross margin expanded to 37.2%, but operating expenses rose due to one-time de-SPAC incentive share costs and AI development investments.

• Tranglo TPV reached $1.46B, up 6.9% YoY, with take rate improving to 0.36%.
• Remittance revenue excluding TNG Asia & GEA grew 8.3% YoY to $5.23M.