Reports

Home Depot posted Q4 revenue of $38198000000 with net income of $2571000000. Sales declined year-over-year due to the prior-year 14th week, while comparable sales increased modestly and margins compressed.

• Revenue decreased 3.8% year-over-year due to prior-year extra week impact.
• Comparable sales increased 0.4%, with U.S. comps up 0.3%.

Constellation Energy generated higher revenue year over year in Q4 2025, but GAAP net income and EPS declined compared to the prior year. Adjusted operating earnings remained solid, and the company advanced strategic initiatives including the Calpine acquisition and long-term nuclear license renewals.

• Revenue increased year over year in Q4 2025.
• GAAP EPS declined to 1.38 from 2.71 in the prior year.

MercadoLibre delivered 45% year-over-year revenue growth in Q4 2025, reaching 8759000000, driven by strong momentum across Commerce and Fintech. Operating income increased to 889000000, while net income totaled 559000000. GMV and TPV showed robust expansion, reflecting continued ecosystem strength.

• Revenue grew 45% year-over-year to 8759000000.
• Operating income reached 889000000 with continued investment impact.

Scotiabank generated net income of 2299000000 and diluted EPS of 1.73 in Q1 2026, driven by broad-based earnings growth across business segments and improved return on equity, while maintaining strong capital levels.

• Net income increased to 2299000000 from 993000000 year-over-year.
• Diluted EPS rose to 1.73 from 0.66 last year.

American Tower delivered 7.5% revenue growth in Q4 2025, supported by solid organic tenant billings growth of 5.9%. However, net income declined 32.0% year-over-year primarily due to foreign currency impacts, while AFFO increased 13.1%.

• Total revenue increased 7.5% year-over-year to $2.74 billion.
• Net income declined 32.0% year-over-year to $837 million.

EOG Resources delivered a solid fourth quarter in 2025, with total revenue of $5.64 billion and net income of $701 million. The company achieved record crude oil equivalent production of 1,399 MBoed, driven by strong performance in the United States. Despite lower commodity prices compared to the prior year, EOG maintained robust free cash flow of $978 million and continued its commitment to shareholder returns through dividends.

• Total crude oil equivalent volumes reached a record 1,399.0 MBoed in Q4 2025, a significant increase from 1,095.7 MBoed in Q4 2024.
• Adjusted net income (non-GAAP) for the quarter was $1.22 billion, or $2.27 per share, adjusting for impairments and mark-to-market losses.

Realty Income delivered solid fourth quarter results with revenue growth, higher net income, $2.4 billion in investments at a 7.1% yield, and portfolio occupancy of 98.9%, while maintaining disciplined leverage.

• Revenue increased year-over-year to $1487942000.
• Net income rose to $296085000, or $0.32 per share.

Ferguson delivered 3.6% sales growth in Q4 2025, supported by organic growth and acquisition contributions. Gross margin expanded 90 basis points and operating profit rose 17.1%, driving double-digit EPS growth.

• Net sales increased 3.6% year over year to 7495000000.
• Gross margin expanded 90 basis points to 30.6%.

Alcon delivered a strong fourth quarter with sales reaching $2.7 billion, a 9% increase over the prior year. While reported operating margins and EPS faced pressure from increased R&D and marketing investments for new launches, core results remained resilient with core diluted EPS growing 8%. The company successfully navigated softer markets through price increases and a wave of innovative product introductions in both Surgical and Vision Care segments.

• Q4 sales grew 9% to $2.7 billion, or 7% on a constant currency basis, led by strong performance in equipment and ocular health.
• Core diluted EPS increased 8% to $0.78, despite significant investments in R&D and sales and marketing for new product platforms.

Keurig Dr Pepper delivered 10.5% net sales growth in Q4 2025, driven by strong U.S. Refreshment Beverages momentum and price realization. GAAP net income improved significantly year-over-year, while adjusted operating income rose 4.8%.

• Net sales increased 10.5% year-over-year to $4.50 billion.
• GAAP net income improved to $353 million from a prior-year loss.

Workday delivered a robust fourth quarter for fiscal 2026, characterized by a 14.5% increase in total revenues to $2.532 billion and a 15.7% surge in subscription revenues. The company demonstrated improved profitability with GAAP operating income more than doubling year-over-year and non-GAAP operating margin reaching 30.6%. Strong cash flow generation and a significant share repurchase program highlighted the quarter's financial strength.

• Total revenues grew 14.5% year-over-year to $2.532 billion, driven by strong subscription services performance.
• Non-GAAP operating margin expanded to 30.6%, up from 26.4% in the same period last year.

NRG Energy generated $7761000000 in revenue in Q4 2025, with GAAP net income of $66000000 and diluted EPS of $0.26. Adjusted EBITDA declined year-over-year, while adjusted EPS came in at $1.04.

• Revenue reached 7761000000 for the quarter.
• GAAP net income was 66000000, down significantly year-over-year.

Axon delivered a strong fourth quarter with revenue growing 39% year-over-year to $797 million, driven by robust demand for TASER 10 and software adoption. While the company reported a GAAP operating loss due to increased headcount and stock-based compensation, non-GAAP profitability remained strong with Adjusted EBITDA growing 46% year-over-year.

• Q4 revenue of $797 million exceeded expectations, growing 39% year-over-year.
• Software & Services revenue grew 40% to $343 million, now representing 43% of total revenue.

FIS delivered 8% GAAP revenue growth in Q4 2025, driven by strength in Banking Solutions and Capital Market Solutions. Adjusted EPS increased 20% year-over-year, supported by 7% adjusted EBITDA growth, while margins remained above 42%.

• Revenue increased 8% year-over-year to $2812000000.
• Adjusted EPS grew 20% year-over-year to $1.68.

CoStar Group delivered a strong fourth quarter with revenue increasing 27% year-over-year to $900 million. The company achieved record net new bookings of $308 million and saw Adjusted EBITDA surge 58% in Q4. Despite full-year net income being impacted by acquisition costs, the company is entering a period of significant earnings acceleration driven by the Homes.com network and the launch of Homes AI.

• Achieved record net new bookings of $308 million for the full year 2025.
• Revenue for Q4 2025 grew 27% year-over-year to $900 million, marking the 59th consecutive quarter of double-digit growth.

First Solar concluded 2025 with a strong fourth quarter, driven by increased module sales volume and the commissioning of its Louisiana factory. The company maintained a disciplined contracting approach and ended the year with a robust net cash balance of $2.4 billion, significantly bolstered by the sale of Section 45X tax credits.

• Quarterly net sales reached $1.7 billion, a $0.1 billion increase over the prior quarter due to higher module volumes.
• Full year 2025 net income per diluted share was $14.21 on total net sales of $5.2 billion.

Amer Sports reported Q4 revenue of 2101100000 with net income of 133500000, driven by broad-based segment and geographic growth. Gross margin expanded while operating margin slightly declined due to accelerated SG&A investments.

• Revenue increased 28.5% year-over-year to 2101100000.
• Gross margin expanded to 57.7% from 56.1%.

Expeditors generated Q4 2025 revenues of 2855954000, down 3% year over year, with operating income of 250910000 and net earnings attributable to shareholders of 200707000. Airfreight tonnage increased 6% while ocean container volume declined 6%.

• Revenue decreased 3% year over year to 2855954000.
• Operating income declined 17% to 250910000.

HP Inc. delivered a solid first quarter for fiscal 2026, characterized by a 6.9% year-over-year increase in net revenue to $14.4 billion. While GAAP diluted EPS saw a slight decline of 1.7%, non-GAAP diluted EPS grew by 9.5% to $0.81. The company demonstrated strong cash generation with $383 million in operating cash flow and $175 million in free cash flow, while returning $0.6 billion to shareholders.

• Net revenue increased 6.9% year-over-year to $14.4 billion, driven by robust growth in Personal Systems.
• Non-GAAP diluted net EPS rose 9.5% to $0.81, exceeding the high end of the previously provided outlook.

GoDaddy delivered a solid Q4 2025, with total revenue reaching $1.27 billion, up 7% year-over-year. The company saw significant margin expansion, with operating income growing 24% and Normalized EBITDA (NEBITDA) increasing 12%. The Applications and Commerce segment continued to lead growth with a 13% increase in revenue.

• Total revenue grew 7% year-over-year to $1.27 billion, driven by strong performance in Applications and Commerce.
• Operating income increased 24% year-over-year to $317 million, representing a 25% margin.

Sun Communities delivered a solid fourth quarter with North America Same Property NOI increasing by 7.9%. The company reported net income attributable to common shareholders of $121.9 million and Core FFO of $1.40 per share. Management initiated 2026 Core FFO guidance and increased the quarterly distribution rate by 8% to $1.12 per share.

• North America Same Property NOI grew by 7.9% in Q4 2025, driven by strong underlying fundamentals.
• The company acquired 14 MH and RV communities for $457.0 million during the year and distributed over $1.5 billion to shareholders.

Fresenius Medical Care generated Q4 2025 revenue of 5070000000, stable year over year, while operating income more than doubled to 594000000, resulting in an 11.7% operating margin. Net income attributable to shareholders rose to 327000000, reflecting strong profitability gains.

• Revenue remained stable at 5070000000 (+7% at constant currency).
• Operating income increased 129% to 594000000 with 11.7% margin.

BridgeBio saw significant revenue growth in Q4 2025, primarily driven by the commercial success of Attruby (acoramidis) following its 2024 FDA approval. The company achieved three positive Phase 3 trial readouts in late 2025 and is preparing for multiple NDA submissions in 1H 2026, transitioning into a multi-product commercial-stage biopharmaceutical company.

• Total Q4 revenue reached $154.2 million, a massive increase from $5.9 million in the prior year, driven by Attruby net product sales.
• Reported three positive Phase 3 trial readouts (PROPEL 3, FORTIFY, and CALIBRATE) within a three-month window.

Globus Medical delivered a record fourth quarter with worldwide net sales of $826.4 million, up 25.7% year-over-year. The growth was driven by the successful integration of NuVasive and the acquisition of Nevro, alongside double-digit growth in the base business. GAAP net income rose significantly to $140.6 million, and the company updated its 2026 EPS guidance upward.

• Worldwide net sales grew 25.7% to $826.4 million in Q4, or 24.7% on a constant currency basis.
• The US Spine business grew 10% and Enabling Technologies grew 19% over the prior-year quarter.

Elanco delivered strong top-line growth in Q4 2025 with 9% organic constant currency growth, led by new product momentum in Pet Health and volume gains in Farm Animal. However, significant restructuring and impairment charges drove a reported net loss for the quarter.

• Total revenue increased 12% year over year to $1144000000, with 9% organic constant currency growth.
• Pet Health revenue grew 11% driven by new products including Credelio Quattro and Zenrelia.

Westlake generated $2.53 billion in Q4 2025 revenue but reported a net loss of $544 million, primarily due to $511 million of identified shutdown and restructuring charges. EBITDA was negative and margins contracted sharply year-over-year, reflecting lower sales volumes, lower average selling prices, and higher feedstock and energy costs.

• Net sales declined 11% year-over-year due to lower volumes and pricing across both segments.
• Net loss of $544 million was heavily impacted by $511 million of identified shutdown and restructuring items.

SPX Technologies delivered a robust Q4 2025, with revenue increasing 19.4% year-over-year to $637.3 million. The company saw significant growth in both its HVAC and Detection & Measurement segments, driven by organic demand and strategic acquisitions like Sigma & Omega and KTS. Adjusted EBITDA and Adjusted EPS both grew by over 20% for the full year, and the company introduced optimistic 2026 guidance.

• Q4 revenue grew 19.4% YoY to $637.3 million, driven by strong demand in heating and cooling products.
• Adjusted EPS for Q4 increased 24.5% to $1.88, while GAAP EPS rose 29.4% to $1.54.

Leonardo DRS generated revenue of 1060000000 in Q4 2025, up year-over-year, with net earnings of 102000000 and diluted EPS of 0.38. Growth was supported by strong bookings and improved operating performance, while backlog increased to 8731000000.

• Revenue increased to 1060000000, up 8% year-over-year.
• Net earnings rose to 102000000 with diluted EPS of 0.38.

Jazz Pharmaceuticals delivered a strong Q4 2025 with total revenues reaching $1.2 billion, a 10% year-over-year increase. The company achieved record annual revenues of $4.3 billion, driven by growth in Xywav and Epidiolex. Despite a GAAP net loss for the full year due to acquisition-related charges, the company maintained strong cash flow and is preparing for significant product launches in 2026.

• Achieved record quarterly revenue of $1.2 billion in 4Q25, up 10% year-over-year.
• Xywav and Epidiolex continued strong performance with annual revenues of $1.7 billion and $1.1 billion respectively.

Tempus AI delivered 83% year-over-year revenue growth in Q4 2025, driven by Diagnostics expansion, with gross margin improvement and positive adjusted EBITDA, though it remained GAAP unprofitable.

• Revenue increased 83% year-over-year to $367.21 million.
• Gross margin expanded to 64.7% from 60.8% a year earlier.

Henry Schein delivered strong fourth-quarter results with total sales reaching $3.4 billion, a 7.7% increase, driven by significant momentum in global equipment, specialty products, and technology segments. The company exceeded its updated 2025 guidance and introduced 2026 guidance reflecting continued growth expectations under incoming leadership.

• Q4 total net sales grew 7.7% to $3.4 billion, marking the highest sales growth in 15 quarters.
• Non-GAAP diluted EPS for Q4 rose 12.6% year-over-year to $1.34.

Mosaic reported a challenging fourth quarter with a net loss of $519 million, primarily driven by $422 million in pre-tax notable items including asset impairments. Despite the quarterly loss, the company achieved full-year net income of $541 million and saw strong performance in its Potash and Fertilizantes segments, while Phosphate was impacted by weak U.S. demand and higher raw material costs.

• Full year 2025 net income reached $541 million with adjusted EBITDA of $2.4 billion.
• Fourth quarter results were heavily impacted by $422 million in pre-tax notable items, including a $189 million impairment of the Carlsbad asset.

Range Resources delivered strong year-over-year growth in revenue and net income for Q4 2025, driven by higher natural gas prices and increased production volumes, while maintaining disciplined capital spending and improving its balance sheet.

• Revenue increased 31% year-over-year to $820158000.
• Net income rose 89% year-over-year to $179087000.

Cytokinetics achieved a major milestone in Q4 2025 with the FDA approval of MYQORZO for obstructive hypertrophic cardiomyopathy. While the company reported a net loss of $183 million for the quarter, it ended the year with a strong cash position of $1.22 billion to support its U.S. commercial launch and ongoing Phase 3 clinical trials.

• MYQORZO received regulatory approvals in the U.S., China, and Europe for the treatment of symptomatic obstructive HCM.
• The U.S. commercial launch of MYQORZO is underway with the first prescriptions dispensed in early 2026.

Armstrong World Industries delivered record-setting results for the fourth quarter and full year 2025, driven by strong average unit value (AUV) growth in Mineral Fiber and expansion in Architectural Specialties. Despite soft demand in home centers and indirect impacts from a federal government shutdown, the company achieved double-digit growth in annual sales and earnings for the second consecutive year.

• Net sales grew 6% in Q4 to $388 million, driven by favorable pricing and mix (AUV) and acquisition contributions.
• Operating income margin expanded 140 basis points to 23.7%, while adjusted EBITDA margin grew 160 basis points to 32.0%.

Light & Wonder delivered a strong finish to 2025, achieving record quarterly AEBITDA of $405 million and consolidated revenue of $891 million. Despite a net loss in Q4 due to a $128 million legal settlement, the company saw robust performance in North American gaming operations and record iGaming revenue, while successfully transitioning to a sole ASX listing.

• Achieved record quarterly Consolidated AEBITDA of $405 million, up 29% year-over-year.
• Gaming revenue increased 17% to $602 million, driven by record machine sales and premium installed base growth.

Repligen delivered Q4 2025 revenue of 197913000 dollars, up 18% year-over-year, with GAAP net income of 13287000 dollars compared to a loss in the prior year. Gross margin expanded significantly and operating income turned positive, reflecting strong execution and operating leverage.

• Total revenue increased 18% year-over-year to 197913000 dollars, driven by product growth.
• GAAP gross margin expanded to 52.5% from 23.2% in the prior year period.

Dillard's posted a decline in fourth quarter net sales and comparable store sales, with lower net income and operating income year over year, while retail gross margin remained flat.

• Net sales declined to 1962200000 from 2016600000 in the prior year quarter.
• Comparable store sales decreased 1% year over year.

Planet Fitness delivered strong Q4 2025 results with revenue up 10.5% year over year and system-wide same club sales growth of 5.7%. Net income and Adjusted EBITDA both increased, supported by growth across franchise, corporate-owned clubs, and equipment segments.

• Total revenue increased 10.5% to 376258000 year over year.
• System-wide same club sales grew 5.7% in the quarter.

CAVA reported Q4 2025 revenue growth of 21.2% year-over-year to 274985000, supported by 24 net new restaurant openings. Same restaurant sales increased 0.5%, while restaurant-level profit margin declined to 21.4%. Net income totaled 4921000.

• Revenue increased 21.2% year-over-year to 274985000.
• Same restaurant sales grew 0.5%.

Vaxcyte ended 2025 with a robust cash balance of $2.4 billion, further bolstered by a $632.5 million equity offering in early 2026. The company is aggressively advancing its pneumococcal conjugate vaccine (PCV) franchise, specifically VAX-31, into Phase 3 trials for adults and Phase 2 for infants, while scaling up manufacturing capabilities with Lonza.

• Initiated the comprehensive VAX-31 adult Phase 3 clinical program (OPUS-1, OPUS-2, and OPUS-3) with topline data expected starting in Q4 2026.
• Completed enrollment in the VAX-31 infant Phase 2 dose-finding study with 900 healthy infants dosed.

Life Time delivered a record fourth quarter with revenue growing 12.3% and net income soaring 230.6% to $123 million. The company benefited from higher member engagement, increased dues, and significant one-time gains from legal settlements and sale-leaseback transactions. Management announced a new $500 million share repurchase program and a net debt leverage ratio of 1.6x, well below its target.

• Total revenue for Q4 rose to $745.1 million, driven by a 10.8% increase in average center revenue per membership.
• Net income saw a massive year-over-year increase due to improved operations and $54.3 million in tax-effected one-time gains and proceeds.

EXL delivered a robust Q4 2025 with revenue growing 12.7% year-over-year to $542.6 million. The company saw significant growth in its Healthcare and Life Sciences segment and authorized a new $500 million stock repurchase program. Profitability improved with Adjusted Diluted EPS rising 15% to $0.50.

• Revenue increased 12.7% year-over-year to $542.6 million, driven by strong demand for AI-native solutions.
• The Board authorized a new $500 million common stock repurchase program effective February 28, 2026.

Cipher Digital underwent a transformative quarter, rebranding to reflect its shift from bitcoin mining to High-Performance Computing (HPC) infrastructure. The company secured significant financing through $3.73 billion in bond offerings and signed major leases with AWS and Google/Fluidstack. While reporting a GAAP net loss for the year, the company successfully divested non-core mining assets and is on track with its Barber Lake and Black Pearl developments.

• Rebranded to Cipher Digital to reflect a strategic shift toward HPC data center development.
• Secured 600 MW of contracted HPC capacity through long-term leases with AWS and Google/Fluidstack.

Coca-Cola FEMSA delivered a strong fourth quarter with consolidated volume growth of 1.3% and a 13.3% increase in operating income. Despite currency headwinds and a slight volume decline in Mexico, the company achieved record December volumes in its four largest operations and expanded its operating margin by 160 basis points to 17.6%.

• Consolidated revenue grew 2.9% to Ps. 77,750 million, driven by revenue management initiatives.
• Operating income increased 13.3% to Ps. 13,702 million, aided by insurance recoveries in Brazil and Mexico.

DigitalOcean delivered 18% year-over-year revenue growth in Q4 2025, reaching $242390000 in revenue. Profitability improved with net income of $25660000 and adjusted EBITDA of $99264000, while ARR grew to $970000000 and net dollar retention increased to 101%.

• Revenue increased 18% year over year to 242390000.
• Adjusted EBITDA reached 99264000 with a 41% margin.

Option Care Health delivered a strong finish to 2025, with Q4 revenue growing 8.8% year-over-year to $1.47 billion. While net income saw a slight decline of 2.7%, the company achieved growth in Adjusted EBITDA and Adjusted Diluted EPS, while returning $95 million to shareholders through stock repurchases in the quarter.

• Net revenue for the fourth quarter increased 8.8% to $1.47 billion compared to the prior year.
• Adjusted EBITDA grew 3.7% to $126.0 million for the quarter.

OMA delivered a solid fourth quarter with a 6.0% increase in passenger traffic and a 5.9% growth in Adjusted EBITDA. Despite a slight 2.9% dip in operating income due to increased concession taxes and maintenance provisions, net income grew by 3.6% year-over-year. The company maintained a strong balance sheet with a leverage ratio of 1.03x and successfully secured approval for its 2026-2030 Master Development Program.

• Total passenger traffic reached 7.5 million in 4Q25, driven by strong growth in Monterrey and San Luis Potosí.
• Adjusted EBITDA grew 5.9% to Ps.2,577 million, maintaining a high margin of 73.6%.

Resideo achieved record full year revenue of $7.47 billion and record Adjusted EBITDA. Q4 performance was strong with revenue of $1.895 billion, exceeding the high end of the outlook range. The company successfully terminated its Indemnification Agreement with Honeywell, which impacted GAAP net income but significantly improved the long-term financial structure.

• Record high full year 2025 net revenue of $7.47 billion, up 11% year-over-year.
• Q4 net revenue of $1.895 billion grew 2% year-over-year, driven by 6% growth in Products & Solutions.

Archrock delivered solid Q4 2025 performance with revenue growth, nearly doubled net income, expanding adjusted EBITDA, and improved segment margins, supported by strong contract operations utilization and disciplined capital management.

• Revenue increased to 377073000 from 326416000 year over year.
• Net income rose to 116772000 from 59758000 in the prior year period.

Everus delivered a strong Q4 2025 with revenue growth of 33.1% and a 60.8% increase in net income. The company achieved record quarterly revenue of $1.01 billion and ended the year with a record backlog of $3.23 billion, driven by robust demand in data center, renewables, and utility end markets.

• Quarterly revenue surpassed $1 billion for the first time in company history, up 33.1% year-over-year.
• Net income grew 60.8% to $55.3 million, with diluted EPS increasing 61.2% to $1.08.

Sotera Health generated fourth-quarter 2025 net revenues of 303441000 dollars, up 4.6% year-over-year, with net income of 34847000 dollars compared to 12323000 dollars in the prior year. Adjusted EBITDA increased to 157037000 dollars, while adjusted EBITDA margin was 51.8%.

• Q4 net revenues increased 4.6% year-over-year to 303441000 dollars.
• Net income rose to 34847000 dollars from 12323000 dollars in Q4 2024.

Matson finished 2025 with strong fourth quarter results that exceeded expectations, driven by higher than expected freight rates and volume in the China service. While consolidated revenue decreased to $851.9 million, net income rose to $143.1 million ($4.60 per diluted share) compared to $128.0 million in the prior year, aided by a one-time tax adjustment and improved performance from the SSAT joint venture.

• Net income increased to $143.1 million, benefiting from a $18.5 million one-time tax adjustment.
• China service performed better than expected due to strong e-commerce demand and a more stable trading environment following the U.S.-China trade deal.

Matador achieved record Q4 2025 production of 211,290 BOE per day, exceeding guidance midpoints. Despite lower realized natural gas prices at the Waha hub, the company maintained a strong balance sheet with a 1.1x leverage ratio and announced a 2026 plan focused on capital efficiency, projecting a 3% oil production increase while reducing total capital expenditures by 11%.

• Record Q4 2025 production of 211,290 BOE per day, up 5% year-over-year.
• Proved reserves increased 9% year-over-year to 667.0 million BOE at year-end 2025.

Merit Medical exceeded expectations in Q4 2025, driven by strong performance in its Cardiovascular and Endoscopy segments. The company achieved double-digit revenue growth, expanded its non-GAAP operating margin to 21.0%, and generated robust free cash flow, while issuing optimistic guidance for fiscal year 2026.

• Reported Q4 revenue of $393.9 million, an 11% increase year-over-year.
• GAAP EPS grew 37% to $0.63, while non-GAAP EPS rose 12% to $1.04.

CCC delivered a solid fourth quarter with revenue of $277.9 million, up 13% year-over-year. The company saw significant momentum in AI-based solutions, which now account for approximately 10% of total revenue. Despite a decrease in GAAP net income for the full year, the fourth quarter showed growth in profitability metrics and the company announced a new $500 million share repurchase authorization.

• Quarterly revenue grew 13% year-over-year to $277.9 million, driven by platform adoption.
• AI-based solutions now generate nearly $100 million in annual revenue, representing 10% of the total business.

TransMedics generated Q4 2025 revenue of 160764000, up 32% year-over-year, driven by increased OCS utilization and NOP expansion. Net income reached 105383000, primarily reflecting an 83750000 income tax benefit. Operating income was 21273000 with a gross margin of 58%.

• Revenue increased 32% year-over-year to 160764000.
• Gross margin was 58%, slightly down from 59% last year.

Trex reported fourth quarter 2025 net sales of $161 million, exceeding guidance despite a slight year-over-year decline. Profitability was impacted by one-time charges related to growth initiatives, including Arkansas plant start-up costs and railing conversion expenses, while the company authorized a new $150 million share buyback program.

• Fourth quarter sales of $161 million exceeded the midpoint of guidance, driven by strong railing sales.
• New products accounted for 24% of full-year sales, up from 18% in the prior year.

Corcept achieved record Q4 revenue of $202.1 million, an 11% increase year-over-year, driven by strong demand in its Cushing’s syndrome business. While net income decreased due to higher operating expenses and a transition to a new specialty pharmacy vendor, the company ended the year with a strong cash position and set ambitious 2026 revenue guidance.

• Q4 2025 revenue reached $202.1 million, up from $181.9 million in the prior year period.
• The company completed a transition to a new specialty pharmacy vendor to address previous capacity constraints.

Zeta Global delivered a strong fourth quarter with revenue of $395 million, up 25% year-over-year, and achieved a significant milestone by turning GAAP net income positive. The company reported its 18th consecutive 'beat and raise' quarter, driven by the compounding power of its proprietary data and AI-driven Marketing Cloud. Based on strong momentum and the integration of the Marigold acquisition, management significantly increased guidance for 2026 and raised long-term 2028 targets.

• Delivered Q4 revenue of $395M, exceeding the midpoint of guidance by $14M with 25% year-over-year growth.
• Achieved positive GAAP net income of $6.5M in Q4, representing a 1.7% margin.

In Q4 2025, Gulfport generated 398188000 in total revenue and 132415000 in net income, supported by higher natural gas prices and solid production volumes. The company delivered 234827000 in adjusted EBITDA and 120171000 in adjusted free cash flow while continuing share repurchases.

• Total revenue reached 398188000, up significantly year over year.
• Net income totaled 132415000 with diluted EPS of 6.83.

Tanger delivered a productive fourth quarter, achieving record annual leasing volume and strengthening portfolio occupancy to 98.1%. The company reported a 5.6% increase in Same Center NOI and introduced 2026 guidance reflecting continued growth expectations. Strategic financing in early 2026 further enhanced liquidity to over $1 billion.

• Portfolio occupancy increased to 98.1% compared to 98.0% in the prior year period.
• Same Center Net Operating Income (NOI) grew 5.6% to $107.3 million for the quarter.

Kiniksa generated total revenue of 202127000 dollars in Q4 2025, up from 122536000 dollars in Q4 2024, driven entirely by ARCALYST. The company reported net income of 14199000 dollars compared to a net loss in the prior year, while maintaining a strong cash position of 414074000 dollars.

• Q4 2025 total revenue increased to 202127000 dollars from 122536000 dollars year-over-year.
• Net income was 14199000 dollars compared to a net loss of 8888000 dollars in Q4 2024.

Lucid achieved record Q4 deliveries of 5,345 vehicles and a 123% year-over-year revenue increase to $522.7 million. While the company continues to operate at a net loss, it maintained a strong liquidity position of $4.6 billion and provided 2026 production guidance of 25,000 to 27,000 vehicles.

• Delivered a record 5,345 vehicles in Q4, representing a 72% increase compared to Q4 2024.
• Q4 revenue grew 123% year-over-year to $522.7 million, driven by higher delivery volumes.

Inter Parfums delivered record Q4 2025 net sales of 386175000 and net income attributable to Interparfums, Inc. of 28098000, with diluted EPS of 0.88, reflecting 7% sales growth and improved profitability despite margin pressure.

• Net sales increased 7% year-over-year to 386175000.
• Net income attributable to Interparfums, Inc. rose to 28098000 from 24228000.

Verra Mobility concluded fiscal year 2025 with robust execution, driven by a 16% increase in Q4 revenue to $257.9 million. The company saw significant growth in its Government Solutions segment due to the NYCDOT red-light expansion. While net income improved to $18.9 million from a loss in the prior year, Adjusted EBITDA remained flat at $101.8 million due to increased implementation costs.

• Total revenue for Q4 2025 increased 16% year-over-year to $257.9 million.
• Government Solutions segment revenue grew 25% to $129.2 million, fueled by NYC Department of Transportation contracts.

Xometry generated 192398000 in revenue in Q4 2025, up 30% year-over-year, driven by 33% marketplace growth. Gross profit reached 75238000 and Adjusted EBITDA improved to 8382000, while net loss narrowed to 8634000.

• Revenue increased 30% year-over-year to 192398000.
• Marketplace revenue grew 33% to 178475000.

Supernus achieved record total revenues of $211.6 million in Q4 2025, a 21% increase year-over-year. Despite the revenue growth, the company reported a GAAP operating loss and net loss for the quarter, primarily due to acquisition-related costs from the Sage Therapeutics transaction. However, non-GAAP adjusted operating earnings remained stable at $48.5 million.

• Record Q4 total revenues of $211.6 million, up 21% compared to Q4 2024.
• Combined revenues from four growth products (Qelbree, GOCOVRI, ZURZUVAE, and ONAPGO) grew 45% to $161.3 million.

Huron delivered strong fourth-quarter results with an 11.3% increase in revenues before reimbursable expenses, driven by record performance in the healthcare and commercial segments. While GAAP net income and EPS saw a slight decline due to contingent consideration charges, adjusted EBITDA and adjusted EPS grew significantly, reflecting continued margin expansion and operational efficiency.

• Revenues before reimbursable expenses grew 11.3% to $432.3 million in Q4 2025.
• Adjusted EBITDA increased 19.7% to $68.0 million, representing a margin of 15.7%.

Apellis generated 199913000 in total revenue in Q4 2025, primarily from SYFOVRE and EMPAVELI product sales, and reported a net loss of 58951000 as operating expenses exceeded gross profit.

• Total Q4 revenue reached 199913000, mainly driven by product sales.
• SYFOVRE remained the largest contributor to quarterly revenue.

Beam Therapeutics generated strong fourth quarter net income primarily due to a gain on sale of an equity method investment, while operating expenses remained relatively stable year over year. The company ended the quarter with a significantly strengthened cash position of over 1245210000.

• Reported net income of 244297000 for Q4 2025, driven by a 255146000 gain on sale of an equity method investment.
• License and collaboration revenue increased to 114109000 from 30067000 in the prior year quarter.

CECO delivered strong Q4 2025 results with revenue of 214693000, gross margin of 35.1%, operating income of 16528000, and adjusted EBITDA of 29800000, supported by record bookings and backlog growth.

• Revenue increased 35 percent year-over-year to 214693000.
• Gross profit reached 75376000 with gross margin of 35.1 percent.

Astronics Corporation finished 2025 with record fourth-quarter sales of $240.1 million and a record backlog of $674.5 million. The company achieved significant profitability improvements, with net income reaching $29.6 million compared to a loss in the prior year, driven by strong demand in the Aerospace segment and the acquisition of Bühler Motor Aviation.

• Record quarterly sales of $240.1 million, up 15.1% year-over-year.
• Aerospace segment achieved record sales of $219.6 million with a 19.0% operating margin.

Brightstar Lottery delivered a strong Q4'25 with revenue growing 3% to $668 million. While GAAP net income from continuing operations decreased due to higher tax provisions and FX impacts compared to the prior year, Adjusted EBITDA grew 5% to $304 million. The company successfully completed the sale of IGT Gaming for $4.1 billion during the year, significantly reducing net debt leverage to 2.4x.

• Q4 revenue of $668 million exceeded expectations, supported by 3.5% same-store sales growth.
• Net debt was reduced by over $2 billion following the IGT Gaming sale, reaching a leverage ratio of 2.4x.

Boston Beer reported a challenging fourth quarter with a net loss of $22.5 million and a 4.1% decline in net revenue, primarily driven by lower shipment volumes in core brands like Twisted Tea and Truly. Despite the volume headwinds, the company achieved significant gross margin expansion of 360 basis points through improved brewery efficiencies and pricing, while continuing to invest heavily in brand marketing and innovation.

• Net revenue decreased 4.1% to $385.7 million due to lower volumes, partially offset by price increases.
• Gross margin improved significantly to 43.5%, up 360 basis points from the prior year.

Solaris delivered a strong Q4 2025 with revenue of $180 million, up 8% sequentially, driven by the rebound in Logistics Solutions and steady performance in Power Solutions. While the company reported a GAAP net loss due to a one-time loss on debt extinguishment, adjusted pro forma net income reached $30 million. The company also secured a major 500 MW power agreement with a leading hyperscaler.

• Revenue increased 8% sequentially to $180 million, driven by an 11% increase in fully utilized logistics systems.
• Adjusted EBITDA attributable to Solaris reached $71 million, excluding losses from the Stateline joint venture.

Talos generated 392237000 in revenue and 240130000 in Adjusted EBITDA during Q4 2025, but recorded a net loss of 202580000 primarily due to 170392000 in non-cash impairment charges.

• Total revenues were 392237000 for the quarter.
• Net loss attributable to Talos Energy Inc. was 202580000, impacted by impairment charges.

Establishment Labs saw a 45.2% revenue increase in Q4 2025, driven by strong demand for Motiva and the launch of Preservé. The company achieved a milestone of positive adjusted EBITDA for the second half of the year and significantly narrowed its operating loss.

• Quarterly revenue grew 45.2% year-over-year to $64.6 million.
• Achieved positive Adjusted EBITDA of $5.5 million in Q4 2025 compared to a loss of $13.1 million in Q4 2024.

Par Pacific generated net income attributable to stockholders of 77700000 on revenues of 1813240000 in Q4 2025, supported by higher refining margins and improved segment profitability compared to the prior year.

• Net income attributable to stockholders was 77700000 compared to a loss in the prior year.
• Adjusted EBITDA increased significantly to 113060000 from 10949000 year-over-year.

Marqeta concluded 2025 with robust momentum, reporting Q4 Net Revenue of $172.1 million and a 36% increase in Total Processing Volume. The company significantly improved its profitability profile, with Adjusted EBITDA rising 142% year-over-year to $30.7 million, while GAAP net loss narrowed to just $1.4 million.

• Total Processing Volume (TPV) reached $108.7 billion in Q4, a 36% year-over-year increase driven by deepening customer relationships.
• Adjusted EBITDA grew by 142% to $30.7 million, representing an 18% margin compared to 9% in the prior year period.

Slide Insurance Holdings reported a strong fourth quarter with revenue growing 45.5% and net income more than doubling year-over-year. The company benefited from significant growth in gross premiums written, driven by policy acquisitions from Citizens and improved underwriting profitability, evidenced by a substantial decrease in the combined ratio to 38.0%.

• Gross premiums written increased 56.7% year-over-year to $618.5 million.
• Net income grew 126.9% to $170.4 million, with diluted EPS rising to $1.23.

Alphatec (ATEC) delivered a strong fourth quarter with total revenue growing 21% year-over-year to $213 million. The company achieved a major milestone by generating positive free cash flow of $8 million in Q4 and $3 million for the full year, while expanding its adjusted EBITDA margin to 16%.

• Q4 total revenue reached $213 million, a 21% increase compared to the prior year period.
• Achieved positive free cash flow of $8 million in the fourth quarter, marking a transition to self-sustaining growth.

Clarivate reported Q4 2025 revenue of $617 million, a decline of 6.9% compared to the prior year, primarily due to divestitures. However, the company returned to profitability with a net income of $3.1 million and announced a strategic pivot to sell its Life Sciences & Healthcare business to focus on Intellectual Property and Academia segments.

• Returned to GAAP profitability in Q4 with net income of $3.1 million compared to a significant loss in the prior year.
• Announced the formal pursuit of a sale for the Life Sciences & Healthcare (LS&H) segment to reduce leverage.

LTC Properties delivered significant revenue growth of 60% year-over-year, primarily fueled by its strategic shift toward SHOP investments. The company reported a substantial increase in net income due to a $78 million gain on the sale of skilled nursing centers and introduced 2026 guidance reflecting continued portfolio evolution.

• Total revenues increased by 60.3% to $84.3 million compared to $52.6 million in the prior year quarter.
• SHOP acquisitions totaled $353 million in 2025, with SHOP now representing 24% of gross investments.

Interface delivered a strong fourth quarter to close a record-breaking fiscal year 2025. The company saw net sales grow 4.3% in Q4, driven by strength in Healthcare and Education segments. Significant operational efficiencies and a disciplined capital allocation strategy allowed for a 40% reduction in total debt year-over-year while increasing adjusted earnings per share by 44%.

• Q4 net sales increased 4.3% year-over-year to $349.4 million, with a 1.6% increase on a currency-neutral basis.
• Adjusted EPS grew 44.1% to $0.49 compared to $0.34 in the prior year quarter.

Navitas Semiconductor experienced a decline in revenue to $7.3 million in Q4 2025 as it transitioned away from mobile markets toward high-power applications like AI data centers. Despite the revenue drop and a GAAP net loss of $31.8 million, the company strengthened its balance sheet with a $95.6 million private placement and expects a return to sequential growth in Q1 2026.

• High-power markets (AI, Grid, Industrial) represented the majority of quarterly revenue for the first time.
• Mobile market exposure declined to less than 25% of total revenue.

UFP Technologies reported a modest 3.4% increase in Q4 sales to $148.9 million, driven by growth in the medical market. While GAAP net income rose to $17.6 million, adjusted EBITDA and adjusted operating income saw declines compared to the prior year, impacted by labor-related inefficiencies at the AJR facility and higher SG&A expenses.

• Q4 net sales grew 3.4% to $148.9 million, while organic sales remained essentially flat.
• Medical market sales increased 4.2% to $138.2 million, representing the vast majority of total revenue.

Revolve Group delivered a robust Q4 2025, characterized by a 10% increase in net sales to $324.4 million and a 58% surge in net income. The company saw record growth in active customers and maintained a debt-free balance sheet while navigating a shift in product mix toward lower-value beauty items.

• Net sales increased 10% year-over-year to $324.4 million, showing sequential improvement from Q3.
• Net income grew 58% to $18.6 million, driven by gross margin expansion and operating expense leverage.

Axogen delivered strong Q4 2025 revenue growth of 21.3% year-over-year, driven by broad-based performance across all market segments. The quarter was highlighted by the landmark FDA BLA approval of Avance®, though net income was impacted by one-time costs related to this milestone.

• Q4 revenue reached $59.9 million, a 21.3% increase compared to the prior year.
• The FDA approved the Biologics License Application (BLA) for Avance® on December 3, 2025.

Albany delivered Q4 2025 revenue growth of 12.0% year over year to 321206000, with operating income of 29871000 and net income of 13998000. Adjusted EBITDA increased to 57301000, driven by strong performance in Engineered Composites.

• Revenue increased to 321206000 from 286905000 year over year.
• Operating income rose to 29871000, up from 24306000.

Harmony delivered Q4 2025 net product revenue of 243776000, representing 21% year-over-year growth for WAKIX, with GAAP net income of 22486000 and continued expansion in patients on therapy.

• WAKIX net product revenue increased 21% year over year to 243776000.
• Average patients on WAKIX grew to approximately 8500 in Q4 2025.

Shoals reported record quarterly revenue of $148.3 million, a 39% increase year-over-year, alongside record backlog and awarded orders. Despite strong top-line growth, gross margins were pressured by increased material costs and tariffs, while the company provided a cautious outlook for Q1 2026 due to utility-scale solar market headwinds.

• Achieved record quarterly revenue of $148.3 million, up 39% compared to the prior-year period.
• Order backlog and awarded orders reached a record $747.6 million, an 18% increase from year-end 2024.

Xenia delivered a strong finish to 2025, with Q4 Net Income of $6.1 million and Adjusted EBITDAre growing 7.5% year-over-year. The company benefited from the successful ramp-up of the Grand Hyatt Scottsdale and strong performance across its San Diego and Orlando portfolios. Despite a portfolio reduction through the sale of Fairmont Dallas earlier in the year, the company achieved a 15.4% increase in Adjusted FFO per diluted share in the fourth quarter.

• Same-Property RevPAR increased 4.5% in Q4 2025, supported by a 130 basis point increase in occupancy and a 2.5% rise in ADR.
• Adjusted FFO per diluted share grew to $0.45 in Q4, a 15.4% increase compared to the prior year period.

Harsco generated Q4 2025 revenue of 556382000, with consolidated Adjusted EBITDA of 70127000 and an Adjusted EBITDA margin of 12.6%, while reporting a GAAP loss from continuing operations of 85859000.

• Q4 revenues were 556382000, broadly flat year over year.
• Adjusted EBITDA totaled 70127000 with a 12.6% margin.

Flywire delivered revenue of 157544000 in Q4 2025, up 34.0% year-over-year, with Total Payment Volume reaching 9300000000 and Adjusted EBITDA increasing to 25400000, while net income was 33000.

• Revenue increased 34.0% year-over-year to 157544000.
• Total Payment Volume grew 35.6% to 9300000000.

AdaptHealth generated Q4 2025 net revenue of 846289000 with organic revenue growth of 1.7%, while reporting a net loss attributable to AdaptHealth Corp. of 102770000, impacted by a 127995000 goodwill impairment charge. Adjusted EBITDA was 163143000 with a 19.3% margin.

• Net revenue was 846289000, down 1.2% year over year.
• Organic revenue growth was 1.7% in the quarter.

Day One achieved strong commercial momentum with OJEMDA net product revenue reaching $52.8 million in Q4 2025, contributing to a full-year total of $155.4 million. The company significantly reduced its net loss compared to the prior year and ended 2025 with a solid cash position of $441.1 million while expanding its oncology pipeline.

• OJEMDA Q4 net product revenue reached $52.8 million, showing consistent double-digit sequential quarterly growth.
• Full-year 2025 OJEMDA revenue grew 172% year-over-year to $155.4 million.

Global Industrial delivered a robust Q4 2025, characterized by a 14.3% increase in net sales and a 40.7% surge in diluted EPS. The company benefited from improved gross margins and strong operating leverage, while also increasing its quarterly dividend for the 11th consecutive year.

• Net sales for Q4 2025 rose 14.3% to $345.6 million, driven by both volume and price improvements.
• Operating income from continuing operations grew 35.2% to $19.6 million, reflecting enhanced operating margins.

eXp World Holdings achieved a 4% year-over-year revenue increase for the full year 2025, reaching $4.8 billion. Despite a net loss in Q4, the company saw improvements in operating expenses and continued to expand its global agent footprint and technological capabilities, particularly in AI-driven platforms.

• Q4 2025 revenue reached $1.2 billion, contributing to a record full-year revenue of $4.8 billion.
• Global agent count stood at 83,060 as of year-end, with a global agent Net Promoter Score of 75.

Volaris generated total operating revenues of 882000000 in Q4 2025, up 5.6%, while net income declined to 4000000 from 46000000 in the prior year, reflecting higher operating expenses and margin compression.

• Total operating revenues increased 5.6% to 882000000.
• Operating income declined to 100000000 from 117000000 year-over-year.

Iovance generated Q4 2025 total product revenue of 86771000, reflecting approximately 30% sequential growth, with gross margin of approximately 50%. Net loss for the quarter was 71904000 as the company continued investing in commercialization and R&D.

• Total product revenue was 86771000 with ~30% quarterly growth.
• U.S. Amtagvi revenue reached approximately 65000000 in Q4.

IGI delivered a solid Q4 2025 with net income rising to $32.3 million and an annualized ROE of 18.5%. While underwriting income saw a slight decline due to lower net premiums earned, the company maintained a strong combined ratio of 82.0% and continued its aggressive capital return strategy, returning $10.2 million to shareholders during the quarter.

• Net income for Q4 2025 increased by 7.7% to $32.3 million compared to $30.0 million in Q4 2024.
• Book value per share grew to $16.91, representing a 13.9% increase from the end of 2024.

CareDx achieved a 25% year-over-year revenue increase in Q4 2025, reaching $108.4 million. While the company reported a GAAP net loss of $4.1 million, it maintained positive adjusted EBITDA and strong cash flow from operations, ending the year with a solid cash position of approximately $200 million.

• Total revenue for Q4 2025 grew 25% year-over-year to $108.4 million.
• Testing services volume increased by 17% year-over-year to approximately 53,000 tests.

First Watch generated Q4 2025 total revenues of 316352000, up 20.2% year over year, with same-restaurant sales growth of 3.1%. Net income increased to 15164000 and Adjusted EBITDA rose to 33687000, reflecting margin expansion.

• Total revenues increased 20.2% to 316352000.
• Same-restaurant sales grew 3.1% despite traffic decline of 1.9%.

New Mountain Finance Corporation (NMFC) reported a solid fourth quarter for 2025, meeting its dividend with net investment income of $0.32 per share. The company announced a significant $477 million asset sale to enhance portfolio diversification and liquidity, while also planning a permanent reduction in incentive fees to benefit shareholders.

• Net investment income of $33.0 million ($0.32 per share) successfully covered the quarterly dividend.
• Signed a definitive agreement to sell $477 million of assets at 94% of fair value to reduce PIK income and increase flexibility.

AbCellera reported a strong fourth quarter in 2025, driven by a significant patent litigation settlement that accounted for 60% of the year's total revenue. The company successfully transitioned into a clinical-stage biotech with two internal programs in trials and maintained a robust liquidity position of approximately $700 million.

• Transitioned to a clinical-stage company with ABCL635 entering Phase 2 and ABCL575 in Phase 1.
• Q4 revenue of $44.9 million was primarily driven by an upfront patent litigation settlement.

Universal Insurance Holdings delivered an outstanding fourth quarter in 2025, characterized by a massive increase in net income and a return to underwriting profitability. The company benefited from Florida's legislative reforms and higher investment yields, achieving a combined ratio of 87.5% compared to 107.9% in the prior year quarter.

• Diluted GAAP EPS rose to $2.28, a significant increase from $0.21 in the prior year quarter.
• The net combined ratio improved by 20.4 points to 87.5%, driven primarily by a lower net loss ratio.

Solid Power concluded 2025 with $21.7 million in total revenue, driven by its partnership with SK On. While the company reported an operating loss of $100.8 million, it maintained a strong liquidity position of $336.5 million and successfully executed on its electrolyte production roadmap, including the design of a new pilot line.

• Announced a Joint Evaluation Agreement with Samsung SDI and BMW to progress all-solid-state battery development.
• Completed factory acceptance testing for the line installation at SK On's facility.

Carlyle Secured Lending (CGBD) delivered record originations of $404.7 million in Q4 2025, though net investment income per share declined to $0.33 from $0.37 in the prior quarter. The company successfully enhanced its liability structure by issuing $300 million in 2031 Notes and fully redeeming higher-cost 2028 debt, while maintaining a stable portfolio with non-accruals at 1.2% of fair value.

• Achieved record quarterly originations of $404.7 million with a weighted average yield of 8.8%.
• Enhanced liability structure by decreasing weighted average cost of debt by 10 bps and extending maturity profile to 2030+.

Aimco reported a strong fourth quarter driven by $1.26 billion in total 2025 asset sales, including the $520 million Brickell Assemblage. Stockholders approved a Plan of Sale and Liquidation in February 2026, transitioning the company's focus to an orderly wind-down and maximizing cash distributions, with an initial liquidating distribution of $1.45 per share declared.

• Stockholders approved the Plan of Sale and Liquidation on February 6, 2026, to maximize returns through asset sales.
• Completed $1.26 billion in real estate dispositions during 2025, including the final suburban Boston property and the Brickell Assemblage.

SLR Investment Corp. delivered a solid fourth quarter with Net Investment Income of $0.40 per share and a modest increase in Net Asset Value to $18.26. The company maintained strong credit quality with 100% of its portfolio performing and no investments on non-accrual, while successfully shifting its focus toward direct asset-based lending investments.

• Net Investment Income for Q4 2025 was $21.6 million, or $0.40 per share, supporting a $0.41 per share distribution.
• Net Asset Value (NAV) per share increased to $18.26, up from $18.20 a year ago, reflecting resilient credit performance.

Camping World ended 2025 with a record market share of over 13% and achieved a 35% increase in full-year Adjusted EBITDA. Despite a net loss in Q4 driven by tax-related adjustments, the company successfully optimized its dealership portfolio to nearly 200 locations and significantly reduced its net debt leverage ratio from 8.1x to 5.7x.

• Achieved record combined new and used market share of over 13% at year-end.
• Full-year Adjusted EBITDA grew by over 35% to $242.9 million.

NexPoint Residential Trust (NXRT) reported a net loss for Q4 2025, primarily driven by lower rental income and higher interest expenses compared to the prior year. Despite the net loss, the company continued its value-add program and acquired a new property in Las Vegas, while issuing 2026 guidance that anticipates a return to positive Same Store NOI growth by year-end.

• Reported a net loss of $10.3 million for the fourth quarter, compared to a $26.9 million loss in Q4 2024.
• Core FFO for the quarter was $16.5 million, or $0.65 per diluted share, down from $17.7 million in the prior year period.

Avanos delivered a solid fourth quarter with net sales of $180.9 million and a significant improvement in operating income compared to the prior year's impairment-driven loss. While the company reported a small GAAP net loss, adjusted metrics showed resilience, particularly in the Specialty Nutrition segment which grew 8.7%. The company also provided 2026 guidance reflecting continued transformation and cost management efforts.

• Specialty Nutrition Systems (SNS) segment grew 8.7% in Q4, driven by strong performance in enteral feeding and neonate solutions.
• Operating income improved to $2.5 million from a $418.5 million loss in the prior year, which was impacted by a massive goodwill impairment.

Standard BioTools delivered Q4 revenue of $23.8 million, down 4% year-over-year, but showed improved operational efficiency. The company successfully operationalized over $40 million in annualized cost savings and significantly improved its net income position due to a one-time tax benefit, while maintaining a strong cash position of approximately $550 million following the SomaLogic transaction.

• Operationalized over $40 million in annualized cost savings to support the path to positive adjusted EBITDA by 2026.
• Q4 Net Income turned positive at $13.9 million, primarily driven by a $38.4 million non-cash partial release of a tax valuation allowance.

Orthofix achieved Q4 revenue of $219.9 million, showing 2% growth, while significantly reducing its net loss to $2.2 million. The company demonstrated strong operational progress with robust free cash flow of $16.8 million in the quarter and double-digit growth in its Global Spine Fixation business, despite the decision to discontinue the M6 product lines.

• Global Spine Fixation net sales grew 10% on a constant currency basis in Q4 2025.
• The company generated $16.8 million in free cash flow during the fourth quarter.

Clean Energy saw a slight revenue increase to $112.3 million in Q4 2025, driven by higher station construction and fuel sales, though it recorded a GAAP net loss of $43.0 million. The company achieved a significant milestone by completing its South Fork RNG facility and continues to see expanded adoption of RNG across fleet segments.

• RNG gallons sold increased by 3.4% to 64.1 million gallons in Q4 2025.
• Completed one of the largest U.S. RNG production plants at South Fork Dairy in Texas.

BlueLinx delivered modest revenue growth of 0.7% in Q4 2025 despite a challenging housing market, driven by volume gains in specialty products and the acquisition of Disdero. While the company reported a net loss due to higher SG&A and acquisition costs, it generated strong free cash flow of $56.4 million and maintained a robust liquidity position.

• Net sales increased 0.7% year-over-year to $715.8 million, aided by an extra week in the fiscal quarter.
• Specialty product sales grew 4.2% to $504.7 million, supported by the Disdero acquisition and volume gains.

Havertys reported strong fourth-quarter results for 2025, marked by a 9.5% increase in consolidated sales and an 8.2% rise in comparable store sales. Despite a slight decrease in gross profit margins due to LIFO impacts, the company achieved higher diluted EPS of $0.51 compared to $0.49 in the prior year and announced plans for further store expansion and a new $15 million stock repurchase authorization.

• Consolidated sales grew 9.5% to $201.9 million, with comparable store sales up 8.2%.
• Diluted EPS for the quarter increased to $0.51 from $0.49 in Q4 2024.

Portillo's generated slight revenue growth in Q4 2025 driven by new restaurant openings, but experienced a decline in same-restaurant sales and lower operating income and net income year over year.

• Total revenue increased 0.6% to 185745000 driven by new restaurant openings.
• Same-restaurant sales declined 3.3% due to a 3.3% decrease in transactions.

Luxfer delivered a strong 2025, exceeding expectations with improved adjusted earnings and robust free cash flow. While Q4 net sales declined 12.3% due to the Graphic Arts divestiture and softer demand in SCBA markets, the company maintained resilient margins through favorable mix and operational excellence initiatives.

• Net sales for Q4 declined 12.3% to $90.7 million, primarily due to the divestiture of the Graphic Arts business.
• Adjusted Diluted EPS for the full year increased 12.1% to $1.11, reflecting improved operating performance and mix.

This Form 8-K filing primarily addresses supplemental disclosures and litigation updates regarding the pending merger with First Eagle Investment Management. The company disclosed specific balance sheet adjustments used in valuation analyses and addressed shareholder lawsuits alleging disclosure deficiencies in the proxy statement.

• Diamond Hill entered into a merger agreement with First Eagle Investment Management on December 10, 2025.
• The company expects to complete the merger in the second quarter of 2026, subject to shareholder approval and client consents.

Gladstone Land Corporation saw a 96.5% year-over-year increase in quarterly revenue, reaching $41.5 million. While the company reported a net loss attributable to common stockholders of $1.8 million, its Adjusted Funds From Operations (AFFO) grew by 327.3% to $14.4 million, reflecting the successful execution of its 'Repositioned Farms' strategy and higher participation rents.

• Total operating revenues for Q4 2025 increased by 96.5% to $41.5 million compared to $21.1 million in Q4 2024.
• The company successfully transitioned several farms to a participation-rent model, resulting in $20.0 million in participation rent for the year.

Hyliion generated 712000 in Q4 2025 revenue from research and development services, reported a net loss of 13183000, and ended the quarter with 152359000 in cash and investments.

• Fourth quarter revenue was 712000, all from research and development services.
• Net loss narrowed to 13183000 from 14398000 in the prior year.

Evolent Health's Q4 2025 was characterized by a revenue decline to $468.7 million compared to the prior year, largely impacted by a massive $398 million goodwill impairment charge. Despite the GAAP net loss, the company achieved an Adjusted EBITDA of $37.8 million and provided strong 2026 revenue guidance of $2.4 billion to $2.6 billion, representing approximately 30% growth.

• Revenue for Q4 2025 was $468.7 million, down from $646.5 million in Q4 2024.
• A $398.0 million goodwill impairment charge significantly impacted GAAP net income and operating results.

Rocky Brands achieved a 9.1% increase in fourth quarter net sales to $139.7 million, led by a 30.8% surge in the retail segment. While gross margins saw a slight 20-basis point compression due to higher tariffs, net income grew significantly by 35.7% year-over-year. The company also announced a new $7.5 million share repurchase program.

• Fourth quarter net sales reached a record $139.7 million, up 9.1% year-over-year.
• Retail segment sales grew 30.8% to $57.0 million, driven by strong direct-to-consumer demand for the XTRATUF brand.

Unisys delivered a strong fourth quarter with revenue increasing 5.3% year-over-year to $574.5 million, driven by software license renewals. The company significantly improved its operating margins and finished the year with a solid cash balance of $413.9 million and a reduced pension deficit.

• Q4 revenue grew 5.3% YoY (2.7% in constant currency) to $574.5 million.
• Non-GAAP operating profit margin expanded 640 basis points YoY to 18.0%.

Inogen delivered Q4 2025 revenue of $81.7 million, driven by strong international POC sales growth of 14.8%. While the company still reported a net loss, it showed significant year-over-year improvement in GAAP net loss, adjusted net loss, and adjusted EBITDA, supported by a strong debt-free balance sheet.

• Q4 revenue grew 2.0% year-over-year to $81.7 million, primarily fueled by international expansion.
• GAAP net loss improved by 27% to $7.1 million compared to $9.8 million in the prior year period.