Reports

Dominion Energy delivered solid Q4 2025 results with operating revenue of $4.09 billion and GAAP EPS of $0.65, up significantly from the prior year. Net income rose sharply year-over-year driven by improved operating performance across core segments.

• Q4 GAAP net income increased to $567 million from $134 million year-over-year.
• Operating earnings per share reached $0.68 compared to $0.58 in Q4 2024.

ONEOK generated strong revenue growth in Q4 2025, with total revenues rising year over year while maintaining solid profitability and operating income.

• Total revenues increased significantly year over year.
• Net income remained strong at nearly $1.0 billion.

Keysight delivered record Q1 revenue of $1600000000, up 23% year-over-year, with strong growth in both Communications Solutions Group and Electronic Industrial Solutions Group. GAAP net income rose to $281000000 and free cash flow increased to $407000000.

• Revenue increased 23% year-over-year to $1600000000.
• GAAP net income rose to $281000000 from $169000000.

Diamondback posted a net loss in Q4 2025 due to a significant impairment charge, while generating over $1 billion in free cash flow and reducing total debt quarter over quarter. Adjusted earnings and EBITDA remained solid despite lower commodity prices.

• Reported net loss of 1458000000 driven by 3652000000 impairment charge.
• Generated 1002000000 in free cash flow during the quarter.

Telefônica Brasil generated R$15611000000 in net operating revenue in Q4 2025, up 7.1% YoY, with EBITDA of R$6699000000 (+8.1% YoY) and net income of R$1877000000 (+6.5% YoY). Growth was driven by mobile services and FTTH expansion, while free cash flow more than doubled year-over-year.

• Net operating revenue increased 7.1% YoY to R$15611000000.
• EBITDA rose 8.1% YoY to R$6699000000, with margin at 42.9%.

BWXT delivered solid Q4 2025 performance with 19% revenue growth, higher GAAP and non-GAAP EPS, and strong Commercial Operations expansion. Backlog increased significantly year over year, reflecting strong demand across both segments.

• Revenue increased 19% year over year to 885842000.
• GAAP EPS rose to 1.01 and non-GAAP EPS to 1.08.

Kratos delivered 21.90% revenue growth in Q4 2025, driven by strong organic expansion across both segments, with improved operating income and a book-to-bill ratio of 1.30.

• Revenue increased 21.90% year-over-year with 20.00% organic growth.
• Operating income improved to 8200000 from 3000000 in the prior year period.

Ovintiv concluded 2025 with a strategic transformation, delivering strong fourth-quarter production of 623 MBOE/d and generating over $500 million in free cash flow. The company completed its 2025 capital program within guidance and announced a significant new shareholder return framework for 2026, supported by the acquisition of NuVista and the $3 billion sale of Anadarko assets.

• Generated $508 million in Non-GAAP Free Cash Flow during the fourth quarter.
• Announced a new shareholder return framework for 2026, targeting at least 75% of Non-GAAP Free Cash Flow.

Domino's delivered solid Q4 2025 results with revenue rising to 1535740000 and net income increasing to 181643000, supported by 4.9% global retail sales growth excluding FX and 392 net new stores.

• Total revenues increased to 1535740000 from 1443914000 year over year.
• Net income rose to 181643000 compared to 169444000 last year.

Erie Indemnity reported Q4 2025 net income of 63380000, or 1.21 per diluted share, compared to 152029000 in the prior year quarter, impacted by a 100000000 charitable contribution. Operating income was 157714000, while management fee revenues continued to grow year over year.

• Net income was 63380000 compared to 152029000 in Q4 2024.
• Operating income was 157714000, down from 167310000 in the prior year quarter.

BioMarin achieved strong topline growth in Q4 2025 with total revenues increasing 17% year-over-year, driven by robust performance in VOXZOGO and Enzyme Therapies. However, the company reported a GAAP net loss for the quarter primarily due to $240 million in charges related to the strategic decision to voluntarily withdraw ROCTAVIAN from the market.

• Total Q4 revenues grew 17% to $875 million, led by a 31% increase in VOXZOGO sales and 13% growth in Enzyme Therapies.
• The company announced a definitive agreement to acquire Amicus Therapeutics to diversify and accelerate future revenue growth.

ImmunityBio generated $38285000 in total revenue in Q4 2025, primarily from ANKTIVA product sales, as commercialization accelerated. Net loss attributable to common stockholders was $61944000, reflecting continued investment in R&D and commercialization activities.

• Q4 total revenue increased to $38285000 from $7552000 year over year.
• Net product revenue reached $38272000 compared to $7206000 in Q4 2024.

Primoris achieved record annual revenue of $7.6 billion and a backlog of $11.9 billion. While Q4 revenue grew by 6.7%, net income and Adjusted EBITDA saw slight year-over-year declines due to increased costs in renewables and lower storm restoration work in the Utilities segment.

• Full year 2025 revenue reached a record $7.6 billion, representing 19% year-over-year growth.
• Total backlog reached $11.9 billion, driven by a 20.6% increase in Master Service Agreements (MSA) backlog.

Axsome delivered 65% year-over-year revenue growth in Q4 2025 driven by strong AUVELITY and SUNOSI sales, while substantially reducing its net loss compared to the prior year period.

• Total revenue increased 65% year over year to $195999000.
• AUVELITY sales grew 68% year over year to $155100000.

Allison reported Q4 2025 net sales of 737000000 and net income of 99000000, down from the prior year period, while Adjusted EBITDA increased to 265000000 with margin expansion to 36.0%. Net cash provided by operating activities rose to 243000000.

• Net sales decreased to 737000000 from 796000000 in Q4 2024.
• Net income declined to 99000000 from 175000000 year over year.

Viper reported Q4 2025 total operating income of 435000000, up from 229000000 in the prior year, driven by higher oil, natural gas and NGL income. Net loss attributable to Viper was 103000000 primarily due to a 408000000 non-cash impairment charge, while production volumes more than doubled year over year.

• Total operating income increased to 435000000 from 229000000 year over year.
• Net loss attributable to Viper was 103000000 due to a 408000000 impairment.

Ryman delivered record Q4 consolidated revenue of 737808000, driven by strong Hospitality and Entertainment performance, with net income of 74462000 and operating income of 142854000.

• Record Q4 consolidated revenue of 737808000, up 13.9% year-over-year.
• Hospitality revenue increased 14.3% to 628276000.

UFP Industries faced a challenging fourth quarter with net sales declining 9% to $1.33 billion and diluted EPS falling to $0.70. Results were impacted by a 7% decline in organic units and higher tax and bonus adjustments, though the company maintained a strong liquidity position of $2.2 billion.

• Net sales decreased 9% year-over-year to $1.33 billion, driven by a 7% decline in organic units and a 2% price decrease.
• Adjusted EBITDA for the quarter was $107.2 million, with margins contracting to 8.1% compared to 9.1% in the prior year.

Novanta reported a strong fourth quarter with 9% revenue growth and a return to positive organic growth. Despite a slight decline in GAAP operating income, the company saw significant double-digit increases in Adjusted EBITDA and Adjusted EPS, driven by solid operating performance and successful acquisition integration.

• GAAP revenue increased 9% year-over-year to $258.3 million, exceeding expectations.
• Adjusted Diluted EPS grew 20% to $0.91, while Adjusted EBITDA increased 17% to $60.7 million.

Clearway Energy generated fourth quarter 2025 revenue of 363000000, reported a net loss of 199000000, and delivered Adjusted EBITDA of 237000000 with 177000000 in cash from operating activities and 35000000 in CAFD.

• Q4 2025 net loss was 199000000 compared to 48000000 in Q4 2024.
• Adjusted EBITDA increased to 237000000 from 228000000 year-over-year.

In Q4 2025, Brighthouse Financial generated total revenue of 1689000000 and net income available to common shareholders of 112000000, reflecting market-driven volatility. The company ended the quarter with a 456% combined RBC ratio and $900000000 in holding company liquid assets.

• Net income available to common shareholders was 112000000, or 1.93 per diluted share.
• Adjusted earnings were 214000000, or 3.70 per diluted share.

Genworth reported a modest net income of $2 million in Q4 2025, supported by strong performance in its Enact segment which offset losses in the Closed Block. The company successfully transitioned to a new reportable segment structure and continued its aggressive share repurchase program, returning $94 million to shareholders in the quarter.

• Enact segment remains the primary engine of profitability with $146 million in adjusted operating income.
• The company transitioned to a new reporting structure consisting of Enact and Closed Block segments.

Hims & Hers delivered 28% year-over-year revenue growth in Q4 2025, reaching $617.82 million. Net income declined year-over-year while gross margin compressed to 72%, but Adjusted EBITDA improved, reflecting continued operating leverage.

• Revenue increased 28% year-over-year to $617818000.
• Gross margin declined to 72% from 77% last year.

Freshpet concluded fiscal year 2025 with a strong fourth quarter, achieving net sales of $285.2 million and a net income of $33.8 million, nearly doubling from the prior year. The company successfully surpassed $1 billion in annual net sales for the first time and achieved positive free cash flow for the full year, driven by volume gains and improved operational leverage.

• Quarterly net sales grew 8.6% to $285.2 million, primarily driven by a 9.7% increase in volume.
• Net income for Q4 rose to $33.8 million compared to $18.1 million in the prior year period.

Paymentus reported record Q4 2025 revenue of 330458000 with 28.1% year-over-year growth, alongside accelerating profitability as adjusted EBITDA increased 46.3% and margins expanded to 37.3%. Transaction volumes and contribution profit both showed strong double-digit growth.

• Revenue increased 28.1% year over year to 330458000.
• Net income rose to 20673000 with diluted EPS of 0.16.

Black Stone Minerals generated $118703000 in total revenue and $72227000 in net income for Q4 2025, supported by a $23521000 gain on commodity derivatives, while production declined year-over-year to 32.1 MBoe/d.

• Total revenue was 118703000, including 23521000 of derivative gains.
• Net income increased to 72227000 from 46346000 in Q4 2024.

Quaker Houghton (KWR) reported a solid fourth quarter for 2025, with net sales increasing 6% year-over-year to $468.5 million. Growth was primarily driven by strategic acquisitions, including Dipsol, and favorable currency translation, which offset a slight decline in organic volumes. The company saw significant margin improvement, with non-GAAP earnings per diluted share rising 24% to $1.65 and adjusted EBITDA growing 11% to $71.9 million.

• Q4 net sales grew 6% Y/Y to $468.5 million, largely driven by a 6% contribution from acquisitions.
• Non-GAAP earnings per diluted share increased 24% to $1.65 compared to $1.33 in the prior year period.

Boise Cascade reported a profitable fourth quarter despite seasonal demand softness and a $6 million legal accrual impact. The company maintained a strong revenue base of $1.5 billion for the quarter and $6.4 billion for the full year, positioning itself for a recovery in housing starts under new leadership.

• Fourth quarter net income reached $8.7 million, or $0.24 per share, on sales of $1.5 billion.
• Earnings were negatively impacted by a $6 million legal accrual ($0.16 per share) in the Building Materials Distribution segment.

Tarsus generated 151668000 in net product sales in Q4 2025, up sharply year-over-year, with net loss improving to 8373000 as commercialization of XDEMVY continued to scale.

• Net product sales increased to 151668000 from 66408000 year-over-year.
• Gross margin remained consistent at 93%.

Apple Hospitality reported fourth quarter 2025 results with steady revenue performance and continued profitability, while margins and certain operating metrics reflected market normalization trends.

• Total revenue remained stable year over year in the fourth quarter.
• Net income remained positive despite margin pressure.

GeneDx delivered Q4 2025 revenue of 120989000, up from 95640000 year over year, with adjusted gross margin expanding to 71.1% and adjusted net income of 4400000, while reporting a GAAP net loss of 17666000.

• Total revenue increased to 120989000 from 95640000 year over year.
• Exome and genome revenue grew to 104000000, up from 78800000 last year.

V2X delivered a strong fourth quarter with record revenue of $1.22 billion and significant growth in adjusted earnings. The company successfully reduced its net debt by $116 million year-over-year, achieving a net leverage ratio of 2.2x, while maintaining a healthy total backlog of $11.1 billion.

• Quarterly revenue increased 5% year-over-year to $1.22 billion.
• Adjusted diluted EPS reached a record $1.56, representing a 17% increase over the prior year.

Addus generated 373078000 in net service revenues for Q4 2025, up 25.6% year-over-year, with net income rising to 29782000 and operating income reaching 42277000.

• Net service revenues increased to 373078000 from 297144000 year-over-year.
• Net income grew to 29782000 from 19526000 in Q4 2024.

Ultra Clean Holdings delivered fourth-quarter results in line with expectations despite a dynamic operating environment. While revenue saw a slight sequential decline, the company is focusing on ramp-readiness for AI-driven demand and maintaining a strong global manufacturing network to capture future semiconductor market growth.

• Total revenue reached $506.6 million for the quarter, slightly down from $510.0 million in the previous quarter.
• The company reported a GAAP net loss of $3.3 million, an improvement from the $10.9 million loss in Q3 2025.

Dream Finders Homes generated $1212668000 in revenue in Q4 2025, with net income of $58717000 as margins compressed due to higher incentives and lower average selling prices, while net sales rose 9% year over year.

• Revenue declined year over year to $1212668000.
• Net income attributable to DFH was $58717000 with basic EPS of $0.60 and diluted EPS of $0.58.

Skyward Specialty delivered strong Q4 2025 performance with net income of 43230000, improved combined ratio of 88.5%, and double-digit gross written premium growth, driven by favorable prior year development and lower catastrophe losses.

• Net income increased to 43230000 from 14406000 year-over-year.
• Gross written premiums grew 13.2% to 439487000.

Innovex delivered a strong finish to 2025, with Q4 revenue of $273.6 million exceeding guidance due to higher subsea deliveries and acquisition synergies. While subsea projects weighed on margins, the company generated significant free cash flow and maintained a debt-free balance sheet.

• Q4 Revenue of $273.6 million grew 14% sequentially and 9% year-over-year.
• Successfully converted 83% of Adjusted EBITDA into Free Cash Flow for the full year.

Stepan delivered a 5% increase in Q4 net sales to $553.9 million, driven by higher selling prices and favorable mix, despite a 3% decline in global sales volume. While reported net income grew 49%, adjusted net income fell to a loss of $0.5 million due to higher interest expenses and lower Surfactant earnings. The company announced 'Project Catalyst' to optimize its footprint and target $100 million in pre-tax savings over two years.

• Reported Q4 net income rose 49% to $5.0 million, but adjusted net income was a loss of $0.5 million.
• Net sales increased 5% year-over-year to $553.9 million, primarily due to price pass-through of raw material costs.

Adeia delivered record Q4 2025 revenue and profitability, driven by strong licensing activity, resulting in substantial year-over-year growth in revenue, operating income, net income, and adjusted EBITDA.

• Revenue increased to 182642000 from 119168000 year-over-year.
• Operating income nearly doubled to 108754000 compared to 57482000 in the prior year period.

In Q4 2025, Diversified Healthcare Trust generated total revenues of 379571000 and reported a net loss of 21221000, while same property SHOP NOI increased materially year over year and Medical Office & Life Science occupancy improved.

• Total revenues were 379571000 for Q4 2025.
• Net loss was 21221000, or 0.09 per share.

ACV delivered a strong fourth quarter with revenue of $184 million and Adjusted EBITDA of $8 million, driven by market share gains and the continued adoption of dealer solutions. Despite a GAAP net loss of $20 million, the company showed significant year-over-year improvement in operating efficiency and set an optimistic outlook for fiscal year 2026 with expected revenue growth of 11% to 13%.

• Fourth quarter revenue grew 15% year-over-year to $184 million, driven by an 11% increase in Marketplace and Service revenue.
• Adjusted EBITDA of $8 million exceeded the high end of the company's previous guidance range.

Atlas Energy Solutions reported Q4 2025 revenue of $249.4 million and a net loss of $22.2 million. While the company faced challenging market conditions and lower sand pricing, volumes exceeded expectations due to muted seasonality and high utilization of the Dune Express logistics system.

• Q4 revenue reached $249.4 million with total volumes of 5.3 million tons, exceeding initial expectations due to strong holiday activity.
• The company reported a net loss of $22.2 million for the quarter, impacted by lower realized sand pricing and market conditions.

For Q4 2025, Veris Residential generated total revenues of 71310000 and net income available to common shareholders of -203000, with Core FFO per diluted share of 0.19. Same Store NOI increased 5.9% year-over-year, supported by rental growth and improved expense control.

• Total revenues increased to 71310000 from 68083000 year-over-year.
• Core FFO per diluted share rose to 0.19 from 0.11.

Tennant Company's fourth-quarter performance was severely hindered by production and fulfillment disruptions following the go-live of its new ERP system in North America. This led to an estimated $30 million unfavorable impact on net sales and a $22 million impact on Adjusted EBITDA, resulting in a net loss for the quarter despite growth in other regions like EMEA and APAC.

• North America ERP implementation caused significant order-management and fulfillment disruptions in November.
• Q4 Net sales declined 11.3% to $291.6 million, with organic sales down 13.9%.

Q4 2025 revenue and net income declined versus the prior year period, primarily driven by lower rental revenue and tenant reimbursements related to tenant defaults. The company reported AFFO of $53333000 and continued executing new leases and financing actions.

• Total revenue was $66657000, down from $76744000 in the prior year quarter.
• Net income attributable to common stockholders was $30705000 ($1.06 diluted EPS).

Ziff Davis reported a slight decrease in Q4 revenue and Adjusted EBITDA, but achieved significant growth in operating cash flow and free cash flow. Net income was heavily impacted by a $58 million loss on the sale of a business and equity investment losses, while the company continued aggressive share repurchases.

• Q4 Revenues decreased by 1.5% to $406.7 million compared to the prior year period.
• Net income dropped to $0.4 million primarily due to a pre-tax $58.0 million loss on the sale of a business.

Helix reported a decrease in quarterly revenue to $334.2 million compared to $355.1 million in the prior year, primarily driven by lower utilization in the Well Intervention segment. Despite seasonal impacts and a non-cash impairment charge of $18.1 million, the company maintained a strong cash position and generated significant free cash flow of $107.5 million in Q4.

• Net income for Q4 2025 was $8.3 million, or $0.06 per diluted share, including an $18.1 million pre-tax impairment charge.
• Free Cash Flow for the quarter was robust at $107.5 million, contributing to a year-end cash balance of $445.2 million.

Easterly Government Properties delivered a solid fourth quarter with net income of $4.8 million and Core FFO of $36.8 million. The company successfully completed the FDA laboratory development in Atlanta and maintained a high-quality portfolio primarily leased to U.S. Government agencies with a weighted average remaining lease term of 9.5 years.

• Reported Core FFO of $0.77 per share on a fully diluted basis for the fourth quarter.
• Substantially completed the 162,000 square foot FDA laboratory development in Atlanta, Georgia.

For Q4 2025, Vir reported total revenue of 64070000 primarily from license revenue, with a net loss of 42923000, reflecting reduced operating expenses year over year and a strengthened cash position of 781600000 in cash and investments.

• Total revenue increased to 64070000 from 12374000 year over year.
• License and collaboration revenue was 63760000 in Q4 2025.

Lincoln Educational Services generated $142872000 in Q4 2025 revenue, up 19.7% year-over-year, with net income rising to $12700000 and operating income increasing 62.3%. Growth was supported by a 15.7% increase in student starts and a 14.9% rise in end-of-period population.

• Revenue increased 19.7% year-over-year to $142872000.
• Net income rose to $12700000 from $6834000 last year.

Douglas Dynamics delivered a strong fourth quarter with net sales increasing 28.6% to $184.5 million, driven by early winter weather and record performance in the Work Truck Solutions segment. The company successfully executed strategic pillars, including the acquisition of Venco Venturo, and reported significantly improved profitability with adjusted diluted EPS rising nearly 58% year-over-year.

• Net sales for Q4 increased to $184.5 million, a 28.6% increase compared to the prior year.
• Work Truck Solutions achieved record fourth quarter and full-year results due to strong municipal demand.

In Q4 2025, SI-BONE generated worldwide revenue of 56350000, delivered positive adjusted EBITDA of 5150000, narrowed its net loss to 1648000, and produced positive free cash flow, ending the quarter with strong cash reserves.

• Worldwide revenue increased 15.0% year over year to 56350000.
• Gross margin remained strong at 79.0%.

Cannae Holdings reported a net loss of $93 million for the fourth quarter of 2025, primarily driven by its share of losses from unconsolidated affiliates and a decline in restaurant revenues. The company is actively transforming its portfolio, recently selling Dun & Bradstreet for $630 million and increasing its focus on sports assets like Black Knight Football Club.

• Completed the sale of Dun & Bradstreet to Clearlake Capital for $630 million in proceeds.
• Repurchased $323 million of stock in 2025, representing 28% of shares outstanding.

AMC generated $1.29B in revenue in Q4 2025, down year-over-year, while narrowing its net loss to $127.40M. Attendance declined, but contribution margin per patron improved, reflecting stronger pricing and spending per guest.

• Revenue decreased 1.4% year-over-year to $1288300000.
• Net loss narrowed to $127400000 from $135600000 last year.

HealthStream achieved record quarterly revenue of $79.7 million in Q4 2025, up 7.4% year-over-year. While GAAP net income and operating income declined due to a $3.8 million non-cash charge related to a CEO stock gift to employees, non-GAAP measures showed strong growth, with adjusted EBITDA increasing by 16.4%.

• Achieved record quarterly revenue of $79.7 million, driven by 8.2% growth in subscription services.
• CEO Robert A. Frist, Jr. contributed $3.8 million of personal stock to grant shares to over 700 non-officer employees.

In Q4 2025, MediaAlpha generated revenue of 291155000 with record transaction value of 612972000, led by strong growth in Property & Casualty insurance, while net income increased substantially to 33985000.

• Revenue decreased 3% year over year to 291155000.
• Transaction Value increased 23% year over year to 612972000.

EverQuote delivered a strong Q4 2025 with revenue growing 32% year-over-year to $195.3 million. The company achieved record GAAP net income of $57.8 million, largely driven by a $38.4 million one-time release of a tax valuation allowance. Adjusted EBITDA also saw robust growth, increasing 32% to $25.1 million, as the company successfully scaled its AI-integrated insurance marketplace.

• Q4 revenue grew 32% year-over-year to $195.3 million, driven by strong performance in the Automotive vertical.
• GAAP net income reached $57.8 million, benefiting from a $38.4 million one-time deferred tax asset valuation allowance release.

Myriad Genetics delivered fourth quarter 2025 revenue of 209800000 with stable year-over-year performance, a GAAP net loss of 7900000, and adjusted EPS of 0.04. Test volumes increased 2% year-over-year, driven by growth in hereditary cancer and mental health testing, while gross margin remained at 70.0%.

• Fourth quarter revenue was 209800000, consistent year-over-year.
• GAAP net loss narrowed to 7900000 with adjusted EPS of 0.04.

Claritev generated fourth quarter 2025 revenues of 246554000, up year-over-year, with a net loss of 80570000 and Adjusted EBITDA of 151326000. The company delivered positive free cash flow and significant medical cost savings from processed claims.

• Q4 2025 revenues increased 6.2% year-over-year to 246554000.
• Net loss narrowed to 80570000 from 137965000 in Q4 2024.

Backblaze reported Q4 2025 revenue of 37762000, up 12% year over year, driven by 24% growth in B2 Cloud Storage. Net loss narrowed to 5413000, while adjusted EBITDA increased to 10415000 with a 28% margin and adjusted free cash flow turned positive.

• Revenue increased 12% year over year to 37762000.
• B2 Cloud Storage revenue grew 24% year over year to 21300000.

DMC Global faced significant macroeconomic headwinds in Q4 2025, resulting in a net loss of $11.2 million and negative adjusted EBITDA. Despite revenue declines in its Arcadia and NobelClad segments, the company achieved a major strategic objective by reducing net debt to its lowest level since 2021, supported by strong operating cash flow of $15.2 million.

• Net debt was reduced by 67% year-over-year to $18.7 million, the lowest level since the Arcadia acquisition.
• Consolidated sales of $143.5 million declined 6% year-over-year due to challenging conditions in energy and construction markets.

Offerpad reported a revenue of $114.1 million for Q4 2025, reflecting a disciplined operating model in a constrained housing environment. While the company experienced a net loss, it showed significant year-over-year improvement in net loss and Adjusted EBITDA, while evolving into a four-solution platform to drive future growth.

• Revenue reached $114.1 million with 312 homes sold during the fourth quarter.
• Net loss improved by 49% year-over-year to $8.8 million, compared to $17.3 million in Q4 2024.