Reports

RBC generated strong first quarter 2026 results, with total revenue of CAD 17.96 billion and net income of CAD 5.79 billion. Diluted EPS was CAD 4.03, while adjusted diluted EPS reached CAD 4.08. The bank maintained solid profitability with ROE of 17.6% and a CET1 ratio of 13.2%.

• Total revenue increased to CAD 17.96 billion.
• Net income attributable to shareholders was CAD 5.79 billion.

TD delivered reported net income of 4043000000 and adjusted net income of 4216000000 for Q1 2026, with total reported revenue of 16585000000. Diluted EPS was 2.34 and adjusted diluted EPS was 2.44. Return on common equity was 13.6% and the CET1 ratio stood at 14.5%.

• Reported net income increased to 4043000000 in Q1 2026.
• Total reported revenue was 16585000000 for the quarter.

Revenue increased 17% year over year to 4651000000, driven by strength in Global Business Solutions and Consumer segments. Operating income rose 44% to 855000000, while diluted EPS grew 49% to 2.48, reflecting strong margin expansion.

• Total revenue grew 17% year over year to 4651000000.
• Operating income increased 44% year over year to 855000000.

For the three months ended January 31, 2026, CIBC delivered total revenue of CAD 8398000000 and net income of CAD 3100000000, with diluted EPS of 3.21 and adjusted diluted EPS of 2.76. Profitability improved as return on common shareholders’ equity rose to 20.2% and adjusted ROE to 17.4%, while the CET1 ratio was 13.4%.

• Total revenue was CAD 8398000000 for Q1 2026, with revenue reported across all strategic business units.
• Net income was CAD 3100000000 and diluted EPS was 3.21 for the quarter.

Revenue increased 17.6% year-over-year to 2131053000, driven by strong international growth and operating leverage. Operating income rose 42.3% while net income increased 65.9%, reflecting margin expansion and improved tax rate.

• Revenue grew 17.6% year-over-year to 2131053000.
• Operating income increased 42.3% with margin expansion to 25.5%.

Revenue increased 39% year over year to 33379000000, driven by a 73% surge in ISG revenue. Net income rose 47% to 2259000000, while operating income grew 43%, reflecting strong operating leverage and AI server momentum.

• Total revenue grew 39% year over year to 33379000000.
• ISG revenue surged 73% year over year, led by AI-optimized servers up 342%.

Warner Bros. Discovery generated $9.46 billion in Q4 2025 revenue, down year-over-year, with a net loss of $252 million and Adjusted EBITDA of $2.22 billion. Streaming subscribers grew to 131.6 million, but Global Linear Networks saw a significant EBITDA decline.

• Total revenue declined 6% year-over-year to $9.46 billion.
• Net loss was $252 million, while Adjusted EBITDA fell 19% to $2.22 billion.

For Q4 2025, Sempra generated total revenues of 3749000000 and GAAP net income attributable to common shares of 352000000, or 0.54 per diluted share. Adjusted earnings were 841000000, or 1.28 per diluted share, compared to 960000000 in Q4 2024.

• GAAP earnings attributable to common shares were 352000000 with diluted EPS of 0.54.
• Adjusted earnings were 841000000, or 1.28 per diluted share.

For the fourth quarter ended December 31, 2025, argenx generated total operating income of 1322155000 and product net sales of 1285711000, primarily driven by VYVGART. Operating profit reached 367611000 and profit for the period was 532950000, with diluted EPS of 8.02.

• Product net sales reached 1285711000 in Q4 2025.
• Total operating income was 1322155000 for the quarter.

Rocket Companies delivered $2692000000 in Q4 2025 revenue with GAAP net income of $68000000 and adjusted net income of $316000000, supported by strong origination volumes and servicing portfolio growth.

• Total revenue, net increased to 2692000000 from 1769000000 year over year.
• Adjusted net income rose to 316000000 from 85000000 in the prior year quarter.

Autodesk delivered 19% year-over-year revenue growth in Q4 FY26, with operating margin at 22% and non-GAAP operating margin expanding to 38%, driven by strength in AECO and international markets.

• Revenue increased 19% year over year to 1957000000.
• GAAP operating margin was 22% while non-GAAP operating margin reached 38%.

Revenue more than doubled year over year to 1572000000, driven by intense AI infrastructure demand. Adjusted EBITDA reached 898000000 with a 57% margin, while GAAP net loss was 452000000 amid elevated interest expense and operating expansion.

• Revenue increased to 1572000000 from 747000000 year over year.
• Adjusted EBITDA was 898000000 with a 57% margin.

Baidu generated USD4682000000 in revenue for Q4 2025, up 5% quarter over quarter, with net income attributable to Baidu of USD255000000 and operating income of USD212000000. AI Cloud Infra and AI-native Marketing Services remained key growth drivers.

• Total revenue reached USD4682000000, increasing 5% quarter over quarter.
• Net income attributable to Baidu was USD255000000 with diluted EPS of USD0.53.

In Q4 2025, Cheniere generated revenue of 5450000000 and net income attributable to Cheniere of 2302000000, driven by higher LNG volumes and favorable derivative impacts. Consolidated Adjusted EBITDA reached 2047000000 as LNG exports increased year-over-year.

• Revenue increased to 5450000000 from 4436000000 in the prior year quarter.
• Net income attributable to Cheniere rose to 2302000000 from 977000000 year-over-year.

For Q4 2025, PSEG generated operating revenues of 2915000000 and net income of 315000000, or 0.63 per diluted share. Non-GAAP operating earnings were 362000000, or 0.72 per share, compared to 421000000 in Q4 2024.

• Net income was 315000000 with diluted EPS of 0.63.
• Non-GAAP operating earnings were 362000000, or 0.72 per share.

BeOne Medicines achieved total Q4 revenue of $1.5 billion, a 33% increase year-over-year, driven by the global success of BRUKINSA which reached $1.1 billion in quarterly sales. The company transitioned to a GAAP net income of $66.5 million compared to a net loss in the prior year, supported by improved operating leverage and product margin expansion to 90.4%.

• Global BRUKINSA revenues grew 38% year-over-year to $1.1 billion in Q4, establishing it as a leader in the BTK inhibitor class.
• Achieved GAAP operating income of $185 million in Q4, a significant turnaround from a $79.4 million loss in the prior year period.

Block delivered 24% year-over-year gross profit growth in Q4 2025, exceeded Rule of 40, and expanded adjusted operating margins to 20%, driven by strong Cash App performance and operating leverage.

• Gross profit increased 24% year over year to 2872000000.
• Adjusted operating income rose to 587789000 with a 20% margin.

Revenue increased to 179652000, up approximately 36% year over year, driven by growth in both space systems and launch services. The company posted a net loss of 52922000 while continuing to invest in Neutron development and expanding backlog to 1850000000.

• Revenue grew to 179652000, up from 132388000 in Q4 2024.
• Gross profit increased to 68232000 from 36817000 year over year.

In Q4 2025, EMCOR reported record revenues of 4513121000 and net income of 434607000, with diluted EPS of 9.68. Operating income rose to 573754000, and remaining performance obligations increased to 13250000000, up 31.2% year-over-year.

• Quarterly revenues increased 19.7% year-over-year to 4513121000.
• Net income rose to 434607000 with diluted EPS of 9.68.

Coupang generated 8835000000 in Q4 2025 revenue, up 11% year-over-year, while reporting a net loss of 26000000 as margins contracted and profitability was affected late in the quarter.

• Total net revenues increased 11% year-over-year to 8835000000.
• Gross profit rose to 2544000000 but gross margin declined to 28.8%.

Natera delivered 39.8% year-over-year revenue growth in Q4 2025 driven by higher product volumes and pricing improvements, expanded gross margin to 66.9%, and narrowed its operating loss compared to the prior year period.

• Total revenue increased 39.8% year-over-year to 665500000 driven by product revenue growth.
• Gross margin expanded to 66.9% from 62.9% in the prior year quarter.

Revenue increased 26% year over year to 815751000, while GAAP net loss was 34312000. Non-GAAP net income reached 168651000, and ARR grew 25% year over year to 3359000000, reflecting continued platform demand and strong recurring revenue momentum.

• Revenue grew 26% year over year to 815751000.
• ARR increased 25% year over year to 3359000000.

Pembina delivered solid fourth quarter results with earnings of $489 million and adjusted EBITDA of $1.075 billion. While financial metrics saw a year-over-year decrease primarily due to lower marketing contributions and new toll structures on the Alliance Pipeline, the company achieved record annual volumes of 3.7 million boe/d and sanctioned $425 million in new expansion projects.

• Achieved record annual Pipelines and Facilities volumes of 3.7 million barrels of oil equivalent per day.
• Sanctioned two conventional pipeline expansions (Birch-to-Taylor and Taylor-to-Gordondale) totaling $425 million.

MasTec delivered record Q4 revenue of 3939800000 with strong profitability improvement, as net income rose significantly year-over-year and backlog reached record levels.

• Revenue increased 15.8% year-over-year to 3939800000.
• GAAP net income rose to 153057000 from 84702000 year-over-year.

Liberty Media delivered a strong Q4 2025, with consolidated revenue growing 38% to $1.6 billion and operating income increasing significantly to $206 million. The results were bolstered by an additional Formula 1 race in the quarter and the inclusion of MotoGP results following its acquisition. Formula 1 continued its growth trajectory with increased fan attendance and viewership, while the company completed the split-off of Liberty Live Holdings in December.

• Consolidated revenue for Q4 increased 38% year-over-year to $1.61 billion, driven by F1 growth and the MotoGP acquisition.
• Formula 1 revenue in Q4 rose 22% to $1.38 billion, aided by one additional race compared to the prior year period.

Flutter delivered a robust Q4 performance with revenue increasing 25% to $4.7 billion, driven by strong US growth and strategic acquisitions like Snai and BetNacional. While net income was impacted by non-cash charges and higher tax expenses, Adjusted EBITDA grew 27% year-over-year, reflecting the benefits of scale and the 'Flutter Edge' platform.

• Group revenue grew 25% to $4.7bn, with US revenue up 33% driven by sportsbook and iGaming strength.
• Adjusted EBITDA increased 27% to $832m, with the US segment contributing $310m (up 90% YoY).

SBA generated solid Q4 2025 performance driven by 3.1% site leasing revenue growth, significant net income expansion supported by a gain on Canadian asset sale, and maintained strong tower cash flow margins above 80%.

• Site leasing revenue increased 3.1% year-over-year to 666217000.
• Net income more than doubled to 370426000 driven by asset sale gains.

Coterra generated 1959000000 in Q4 2025 operating revenue and 368000000 in net income, supported by record total production of 813100 BOE per day and 507000000 in free cash flow.

• Total equivalent production increased to 813100 BOE per day from 681500 year-over-year.
• Oil production rose to 175800 barrels per day from 113000 year-over-year.

NetApp generated 1713000000 in Q3 FY26 revenue, up 4% year-over-year, with GAAP operating margin expanding to 25.3% and record non-GAAP EPS of 2.12 driven by strong hybrid cloud performance and operational discipline.

• Revenue increased 4% year-over-year to 1713000000.
• GAAP operating income rose to 434000000 from 362000000 year-over-year.

Viatris delivered Q4 2025 total revenues of 3703600000, up 5% year over year, driven by strength in Brands and Emerging Markets. The company reported a GAAP net loss of -340100000, while adjusted net earnings were 658700000 and adjusted EBITDA reached 1003100000. Free cash flow totaled 619300000 in the quarter.

• Total revenues increased 5% year over year to 3703600000, led by Brands growth.
• Adjusted net earnings were 658700000 with adjusted EPS of 0.57.

For Q4 2025, TopBuild generated net sales of 1485247000, up 13.2% year-over-year, primarily from acquisitions. Net income declined to 104515000, with diluted EPS of 3.71. Adjusted EBITDA was 265175000, representing a 17.9% margin, while operating margin contracted to 12.1%.

• Net sales increased 13.2% year-over-year to 1485247000, driven by M&A.
• Net income was 104515000 with diluted EPS of 3.71.

Hormel Foods delivered a solid first quarter for fiscal 2026, characterized by organic net sales growth and strong performance in the Foodservice and International segments. While the Retail segment faced headwinds from strategic exits and higher costs, the company reaffirmed its full-year adjusted guidance and continued its portfolio-shaping strategy through the sale of the Justin's business and the announced sale of its whole-bird turkey business.

• Achieved net sales of $3.03 billion, representing a 1.3% increase over the prior year.
• Organic net sales grew 2%, marking the fifth consecutive quarter of organic growth.

Q4 2025 revenue increased to 822000000, led by Activewear growth, with gross margin of 31.2% and operating margin of 18.5%. Net income was 132000000 and adjusted operating margin expanded to 19.8%.

• Revenue rose to 822000000 from 792000000 year-over-year.
• Gross margin expanded to 31.2% and operating margin reached 18.5%.

Solventum generated 1998000000 in Q4 2025 net sales, down 3.7% reported but up 3.5% organically, with net income of 63000000 and adjusted diluted EPS of 1.57, reflecting margin resilience and transformation progress.

• Reported sales declined 3.7% year-over-year, while organic sales grew 3.5%.
• GAAP diluted EPS was 0.36 and adjusted diluted EPS increased to 1.57.

Celsius reported Q4 2025 revenue of 721628000, up 117% year over year, with net income of 24739000 and operating income of 26065000. Growth was driven by contributions from Alani Nu and Rockstar Energy, while gross margin declined to 47.4% due to integration and transition costs.

• Revenue increased 117% year over year to 721628000.
• Net income was 24739000 with diluted EPS of 0.04 and adjusted EPS of 0.26.

Donaldson reported record second-quarter sales of $896.3 million, a 3.0% increase driven by pricing and currency benefits. While GAAP net earnings and EPS saw slight year-over-year declines due to operating inefficiencies and higher interest expenses, the company maintained a strong outlook, forecasting all-time highs for full-year sales and adjusted EPS.

• Achieved record second-quarter sales of $896.3 million, up 3.0% over the prior year.
• Announced the acquisition of Facet for $820 million to strengthen the core filtration portfolio.

MP Materials generated $52.69 million in revenue and $9.43 million in net income in Q4 2025, supported by $51.02 million of price protection agreement income and initial magnetic precursor product sales, partially offset by the cessation of concentrate sales to China.

• Revenue declined year-over-year due to no rare earth concentrate sales in the quarter.
• Net income turned positive at $9.43 million versus a loss in the prior year period.

Net sales increased 7% to $2339400000, supported by pricing in coffee, while the company posted a net loss of $724200000 due to goodwill and intangible impairment charges. Adjusted EPS declined 9% year-over-year.

• Net sales rose 7% year-over-year, driven primarily by higher coffee pricing.
• Net loss widened to $724200000 due to impairment charges.

For Q4 2025, Bentley Systems generated total revenues of 391582000, up 11.9% year-over-year, with net income attributable to Bentley Systems of 58638000 and diluted EPS of 0.18. ARR reached 1462100000, growing 11.5% in constant currency, while operating margin expanded to 20.0%.

• Total revenues increased 11.9% year-over-year to 391582000.
• ARR grew to 1462100000 with 11.5% constant currency growth.

In Q4 2025, Millicom reported revenue of 1652000000, up 15.7% year-over-year, with operating profit of 469000000 and net income attributable to owners of 252000000. Adjusted EBITDA reached 778000000 and equity free cash flow totaled 278000000, while leverage ended the quarter at 2.31x.

• Revenue increased 15.7% year-over-year to 1652000000.
• Adjusted EBITDA rose 25.9% to 778000000 with margin expansion.

American Healthcare REIT generated $604080000 in total revenue and $10775000 in net income attributable to controlling interest for Q4 2025, driven by double-digit Same-Store NOI growth across its operating segments.

• Total portfolio Same-Store NOI increased 11.8% year-over-year in Q4 2025.
• SHOP and ISHC segments delivered 24.6% and 14.0% Same-Store NOI growth, respectively.

Fourth quarter revenue declined 0.4% year-over-year to 747500000, while net income increased 14.5% to 76600000, driven by gross margin expansion to 35.0% and strong commercial growth.

• Net revenue decreased 0.4% to 747500000, with installation revenue down but other revenue up 22.8%.
• Gross profit increased to 261500000 with gross margin expanding to 35.0%.

Fourth quarter net sales increased 4.5% to 866425000, while income from continuing operations declined to 86086000 and adjusted EBITDA decreased to 197104000, reflecting margin pressure and tariff impacts.

• Net sales grew 4.5% year-over-year to 866425000, with modest 0.3% organic growth.
• Operating income declined to 149835000 from 181667000 in the prior year.

Vipshop reported a stable fourth quarter with a slight revenue decline but improved net income and operating margins. The company demonstrated financial resilience through strategic realignment and AI-driven operational efficiencies, while returning significant capital to shareholders via dividends and buybacks.

• Net income attributable to shareholders grew 5.8% year-over-year to RMB2.6 billion despite a 2.3% decrease in total net revenues.
• Operating margin improved to 8.9% from 8.6% in the prior year period, driven by disciplined expense management across all categories.

For Q4 2025, Kymera reported collaboration revenue of 2871000 and a net loss of 86981000, driven by higher research and development expenses of 83831000, while ending the year with 1619434000 in cash, cash equivalents and marketable securities.

• Collaboration revenue was 2871000 in Q4 2025, down from the prior year period.
• Research and development expenses increased to 83831000 in Q4 2025.

In Q4 2025, D-Wave increased revenue year over year while reducing net loss compared to the prior year period. Bookings surged sequentially, and the company ended the quarter with a record cash and marketable securities balance.

• Revenue grew 19% year over year to 2752000.
• Net loss narrowed to 42326000 from 86077000 in the prior year quarter.

For Q4 2025, Rhythm generated net product revenue of 57253000, up from 41830000 in the prior year, while reporting a net loss attributable to common stockholders of 48837000 and ending the year with 388949000 in cash, cash equivalents and short-term investments.

• Q4 2025 net product revenue was 57253000, driven by global IMCIVREE sales growth.
• United States revenue was 39000000 and revenue outside the United States was 18300000.

For Q4 2025, Loar generated net sales of 131750000, up 19.3% year-over-year with 16.9% organic growth, while net income increased to 12511000 and Adjusted EBITDA reached 49764000 with margin expansion.

• Net sales increased 19.3% year-over-year to 131750000, with 16.9% organic growth.
• Net income rose to 12511000 from 3685000 in the prior year quarter.

For Q4 2025, Nexstar generated net revenue of 1289000000, down 13.4% year-over-year, and reported a net loss of -170000000, impacted by a 381000000 impairment of an equity method investment, with Adjusted EBITDA of 433000000.

• Net revenue declined 13.4% year-over-year to 1289000000 due to lower political advertising.
• Advertising revenue fell 27.6% to 549000000, with political advertising of 21000000.

Arcosa generated 716700000 in revenue and 52100000 in net income for Q4 2025, with Adjusted EBITDA increasing 13% year-over-year and margin expanding to 20.2%.

• Revenue increased 8% year-over-year to 716700000.
• Net income improved to 52100000 compared to a loss in the prior year.

Revenue grew 35% year over year to $282.87 million, driven by subscriber growth and improved conversion. Net income increased to $41.95 million, while Adjusted EBITDA margin expanded to 29.8%, reflecting operating leverage and gross margin expansion.

• Revenue increased 35% year over year to $282,868,000.
• Net income rose to $41,954,000 with significant year-over-year growth.

Elastic generated 449881000 in total revenue, up 18% year-over-year, with GAAP net income of 7753000 and non-GAAP operating margin of 18.6%, supported by solid subscription growth and improved free cash flow.

• Total revenue increased 18% year-over-year to 449881000.
• Non-GAAP operating income reached 83496000 with 18.6% margin.

Acushnet reported a solid fourth quarter with net sales growth of 7.2%, driven primarily by strong performance in Titleist golf equipment. However, the company swung to a net loss of $34.9 million for the quarter, largely due to a $17.0 million loss on debt extinguishment and increased operating losses. Despite the quarterly loss, the company increased its dividend and provided a positive outlook for 2026.

• Fourth quarter net sales increased 7.2% to $477.2 million, led by a 10.2% jump in Titleist golf equipment sales.
• The company reported a net loss of $34.9 million in Q4, compared to a $1.1 million loss in the prior year, impacted by debt refinancing costs.

For Q4 2025, TeraWulf generated total revenue of 35800000, reflecting increasing HPC lease revenue contribution, while reporting a net loss of 661416000 primarily driven by operating costs and fair value adjustments.

• Total Q4 revenue was 35800000, composed of 26100000 digital asset revenue and 9700000 HPC lease revenue.
• HPC lease revenue increased sequentially from 7200000 in Q3 to 9700000 in Q4.

Main Street generated total investment income of 145541000 and net investment income of 92100000 in Q4 2025, driving a net increase in net assets resulting from operations of 131111000 and a return on equity of 17.7%.

• Net investment income increased to 92100000, or 1.03 per share.
• Distributable net investment income was 98030000, or 1.09 per share.

KBR reported a mixed fourth quarter for fiscal 2025, with revenues declining 11% year-over-year to $1.9 billion due to slower award pacing and scope reductions in EUCOM. However, the company demonstrated strong operational efficiency, significantly expanding margins and growing net income by 46%. KBR also announced progress on its strategic spin-off of the Mission Technology Solutions segment, expected to complete in the second half of 2026.

• Net income attributable to KBR rose 46% to $111 million despite an 11% decline in total revenue.
• Operating income margin improved significantly to 10.1% from 6.6% in the prior year quarter.

Fourth quarter 2025 revenues increased 10.7% year-over-year to 990746000, while net income rose to 54531000 and Adjusted EBITDA improved to 106238000, reflecting margin expansion and strong segment performance.

• Revenues grew 10.7% year-over-year to 990746000, led by Corporate Finance growth of 26.1%.
• Net income increased to 54531000 compared to 49710000 in the prior year quarter.

Fourth quarter 2025 GAAP revenue from continuing operations increased to 568984000, while the company reported a net loss from continuing operations of 3552000, impacted by 28150000 of interest expense and restructuring and impairment-related charges.

• Q4 GAAP revenue from continuing operations rose to 568984000 from 442010000 year-over-year.
• Gross profit reached 307447000 with a 54.0% gross margin.

Sunrun delivered substantial year-over-year revenue growth in Q4 2025, driven primarily by energy systems and product sales. The company generated positive net income and strong cash generation, while achieving a record 71% storage attachment rate and $176 million in contracted net value creation.

• Total revenue increased 124% year-over-year to 1158833000.
• Net income attributable to common stockholders was 103574000, with diluted EPS of 0.38.

Eos Energy reported record Q4 revenue of 57998000, up approximately 8x year-over-year and 90% sequentially, while net loss narrowed significantly versus the prior year. Gross margins improved materially, backlog expanded to 701500000, and liquidity strengthened to 624566000 in total cash.

• Revenue reached 57998000, approximately 8x year-over-year growth.
• Gross loss margin improved by 230 percentage points year-over-year.

Nelnet delivered solid fourth-quarter profitability with GAAP EPS of 1.60 and non-GAAP EPS of 1.56. Loan Servicing and Systems revenue declined year over year, while Education Technology Services and Payments revenue increased. The company reported a loss in its solar construction business and exited that business in November 2025.

• GAAP net income attributable to Nelnet was 57771000 (EPS 1.60) for Q4 2025
• Non-GAAP net income (excluding derivative market value adjustments) was 56343000 (EPS 1.56) for Q4 2025

Compass delivered record Q4 revenue growth of 23.1% year-over-year driven by strong transaction growth, while expanding Adjusted EBITDA substantially despite a GAAP net loss. Operating cash flow remained positive for the eighth consecutive quarter.

• Revenue increased 23.1% year-over-year to 1699800000 driven by 19.7% transaction growth
• Adjusted EBITDA improved to 58300000 from 16700000 in the prior year quarter

In Q4 2025, Shift4 generated $1189000000 of gross revenue and $53000000 of net income, driven by $59000000000 of end-to-end payment volume and $610000000 of gross revenue less network fees. Adjusted EBITDA rose to $304000000 with a 50% adjusted EBITDA margin, and adjusted free cash flow was $171000000.

• End-to-end payment volume reached $59000000000, up 23% year over year.
• Gross revenue less network fees was $610000000, up 51% year over year.

Fourth quarter 2025 total revenue increased to 481600000, driven by growth in recurring revenue to 304000000, while net income was 64336000 and adjusted EBITDA reached 160900000.

• Total Q4 revenue grew to 481600000 from 453038000 year-over-year.
• Recurring revenue increased to 304000000, representing a significant portion of total revenue.

Crinetics generated 6161000 in Q4 revenue driven by the U.S. launch of PALSONIFY, while reporting a net loss of 122815000 as R&D and commercial infrastructure investments increased significantly year-over-year.

• Total revenue was 6161000 including 5420000 in net product revenue from PALSONIFY
• Research and development expenses increased to 85053000 from 66566000 year-over-year

OneStream delivered 24% year-over-year revenue growth in Q4 2025, with subscription revenue increasing 27%. The company generated GAAP net income attributable to OneStream of 999000 and expanded non-GAAP operating margin to 10%.

• Total revenue increased 24% year-over-year to 163732000
• Subscription revenue grew 27% year-over-year to 150310000

Fourth quarter 2025 worldwide revenue increased 4.0% to 406786000, GAAP net income was 54088000, and adjusted net income was 110669000, with strong cash generation during the quarter.

• Worldwide revenue grew 4.0% year-over-year to 406786000.
• GAAP net income was 54088000 compared to a loss in the prior year period.

For Q4 2025, ACM Research generated revenue of 244430000, up 9.4% year-over-year, while net income attributable to ACM Research, Inc. declined to 8049000 and operating income decreased to 23035000 amid lower gross margin.

• Revenue increased 9.4% year-over-year to 244430000.
• Gross margin declined to 40.9% from 49.6% in the prior year period.

Tutor Perini delivered strong Q4 2025 results with revenue of 1507365000 and net income attributable to the Company of 28837000, compared to a loss in the prior year period. Construction operations income improved significantly across segments, supported by higher project execution and margin expansion.

• Revenue increased to 1507365000 from 1067649000 year-over-year
• Income from construction operations was 50112000 compared to a loss of 86245000 in Q4 2024

NHI delivered solid Q4 2025 results with total revenues of 105823000 and net income attributable to common stockholders of 38113000. Normalized FFO per diluted share increased year-over-year to 1.22, while SHOP NOI more than doubled compared to the prior year period.

• Total revenues increased to 105823000 from 85754000 year-over-year
• Net income attributable to common stockholders was 38113000 compared to 43213000 in Q4 2024

Hilton Grand Vacations generated total revenue of 1333000000 dollars in Q4 2025, up from the prior year, with net income attributable to stockholders of 48000000 dollars and diluted EPS of 0.55. Adjusted EBITDA attributable to stockholders increased to 292000000 dollars, supported by higher contract sales of 852000000 dollars and improved segment margins.

• Total revenue increased to 1333000000 dollars, driven by growth in real estate and resort operations.
• Net income attributable to stockholders rose to 48000000 dollars, with diluted EPS of 0.55.

Alignment Healthcare delivered strong Q4 2025 growth with revenue increasing 44.4% year-over-year to 1012804000 and health plan membership rising 25.0%. The company reported a net loss of 11006000 but generated adjusted EBITDA of 11414000 and achieved an 87.7% medical benefits ratio.

• Total revenue increased 44.4% year-over-year to 1012804000
• Health plan membership grew 25.0% year-over-year to 236300

CMB Tech NV delivered Q4 2025 revenue of 589123000 USD and net income of 90061000 USD, supported by strong tanker and dry bulk markets and vessel disposals, with EBITDA reaching 322060000 USD.

• Q4 2025 net income was 90061000 USD with EPS of 0.31.
• EBITDA increased significantly year-over-year to 322060000 USD.

Assured Guaranty delivered strong Q4 2025 results with net income of 119000000 and adjusted operating income of 109000000, supported by solid insurance segment performance and 61000000 in gross written premiums. The company returned 147000000 to shareholders during the quarter.

• Net income attributable to AGL was 119000000, or 2.53 per diluted share
• Adjusted operating income was 109000000, or 2.32 per diluted share

Frontdoor generated Q4 2025 revenue of 433000000 with net income of 1000000 and Adjusted EBITDA of 59000000, driven by renewal growth and strong expansion in non-warranty revenue.

• Revenue increased 13% year-over-year to 433000000.
• Gross profit reached 213000000 with a 49% gross margin.

In Q4 2025, CommScope generated net sales of 514500000, up 23.9% year-over-year. GAAP loss from continuing operations was 50300000, while Non-GAAP adjusted EBITDA increased to 64700000 with margin expanding to 12.6%. Cash flow from operations was 281300000 and free cash flow reached 255500000.

• Net sales increased 23.9% year-over-year to 514500000.
• Non-GAAP adjusted EBITDA rose to 64700000 with 12.6% margin.

In Q4 2025, Perimeter Solutions generated net sales of 102750000 and a net loss of 140231000, primarily impacted by founders advisory fees, while Adjusted EBITDA increased to 35952000 and adjusted net income reached 19893000.

• Net sales increased 19% year-over-year to 102750000.
• GAAP net loss was 140231000 compared to net income in the prior year quarter.

NuScale Power concluded 2025 with a strengthened cash position of $1.3 billion following a $750 million ATM program. While the company faced a significant net loss due to a one-time $507.4 million milestone payment to ENTRA1, it advanced its commercialization efforts through a collaborative agreement with TVA for up to 6 GW of SMR capacity.

• Strengthened liquidity significantly, ending the year with $1.3 billion in cash and investments.
• Advanced the largest nuclear deployment program in U.S. history through a partnership with ENTRA1 and TVA.

Ligand generated total revenues and income of 59666000 in Q4 2025, up 39% year-over-year, driven by a 45% increase in royalties, resulting in GAAP net income of 44784000 and adjusted net income of 42663000.

• Total revenues and income increased 39% year-over-year to 59666000.
• Royalty revenue grew 45% year-over-year to 50529000.

Shake Shack generated total revenue of 400531000 in Q4 2025, up 21.9% year-over-year, with net income of 12999000 and operating income of 18744000, supported by positive same-Shack sales and new Shack openings.

• Total revenue increased 21.9% year-over-year to 400531000.
• Same-Shack sales grew 2.1% versus 2024.

Hafnia generated operating revenue of 368400000 and net income of 109700000 in Q4 2025, supported by TCE earnings of 259000000 and Adjusted EBITDA of 149700000, with a payout ratio of 80%.

• Net income was 109700000 with EPS of 0.22.
• Operating revenue reached 368400000 in Q4 2025.

Revenue grew 59% year over year to 55059000, while GAAP net income reached 40057000. Gross margin expanded to 47.9% on a GAAP basis and 60.5% on a non-GAAP basis, reflecting improved operating performance amid strong enterprise demand.

• Revenue increased 59% year over year to 55059000.
• GAAP net income was 40057000 compared to a loss last year.

For Q4 2025, International Seaways generated shipping revenues of 267879000 and net income of 127504000, driven by higher spot TCE rates across crude and product segments, with Adjusted EBITDA of 174770000.

• Net income rose to 127504000, or 2.56 per diluted share.
• Adjusted EBITDA increased to 174770000 from 94846000 in the prior year quarter.

NCR delivered 4% revenue growth in Q4 2025, driven by strength in Self-Service Banking, with net income more than doubling year over year and solid adjusted EBITDA performance.

• Total revenue increased 4% year over year to 1152000000.
• Net income attributable to Atleos rose 102% year over year to 83000000.

nLIGHT delivered record Q4 2025 revenue driven by strong Aerospace and Defense demand, with substantial gross margin expansion and a sharply reduced net loss, while generating positive Adjusted EBITDA.

• Revenue increased 71.3% year-over-year to 81185000.
• Gross margin expanded to 30.7% from 2.4% in the prior year.

Concentra delivered double-digit revenue and Adjusted EBITDA growth in Q4 2025, driven by higher patient visits, improved revenue per visit, and continued expansion of occupational health centers and onsite clinics.

• Revenue increased 15.9% year-over-year to 539080000.
• Net income rose 58.7% year-over-year to 36191000.

Applied Optoelectronics posted strong Q4 2025 revenue growth driven by Datacenter and CATV, expanded gross margins, and narrowed both GAAP and non-GAAP losses versus the prior year.

• Revenue increased to 134274000 from 100271000 year over year, led by Datacenter growth.
• GAAP gross margin improved to 31.2% from 28.7% in Q4 2024.

Privia Health delivered a strong fourth quarter, with all 2025 operating and financial metrics meeting or exceeding the high end of guidance. The company achieved significant growth in net income and Adjusted EBITDA, ending the year with a robust cash position of $479.7 million and no debt.

• Total revenue for Q4 2025 increased 17.4% year-over-year to $541.2 million.
• Net income for the fourth quarter rose 108% to $9.2 million compared to the prior year period.

In Q4 2025, Warby Parker generated net revenue of 211968000, up 11.2% year-over-year. Net loss improved to 5953000, while adjusted EBITDA increased to 15246000 with a margin of 7.2%. Gross margin was 52.4% and active customers grew 7.0% year-over-year.

• Net revenue increased 11.2% year-over-year to 211968000.
• Gross margin was 52.4% in Q4 2025.

In Q4 2025, Marathon Digital generated 202314000 in revenue, down 6% year over year, and reported a net loss of 1709788000 largely due to a 1500000000 negative change in the fair value of digital assets, despite increasing energized hashrate and bitcoin holdings.

• Revenue decreased 6% year over year to 202314000.
• Net loss was 1709788000, impacted by a 1500000000 fair value loss on digital assets.

In Q4 2025, Ardagh Metal Packaging generated revenue of 1346000000 and Adjusted EBITDA of 166000000, up 1% year-over-year, while reporting a net loss of 16000000, reflecting higher operating and overhead costs partly offset by favorable volume and mix.

• Revenue increased 13% year-over-year to 1346000000.
• Adjusted EBITDA rose to 166000000 with a 12.3% margin.

Ambarella delivered double-digit revenue growth in Q4 fiscal 2026, with GAAP gross margin of 58.4% and non-GAAP net income of 5545000, while GAAP net loss narrowed year-over-year.

• Revenue increased 20.1% year-over-year to 100867000.
• GAAP gross margin was 58.4%, compared to 60.0% in the prior year.

Dentsply Sirona generated Q4 2025 net sales growth of 6.2% to 961000000, but recorded a GAAP net loss of 146000000 due to goodwill and intangible impairments, while adjusted EBITDA increased to 135000000.

• Net sales increased 6.2% year-over-year to 961000000.
• GAAP gross margin declined to 46.2% from 49.2% in the prior year.

For Q4 2025, Wave Life Sciences generated revenue of 17244000 and reported a net loss of 53179000, driven by higher research and development and general and administrative expenses compared to the prior year quarter.

• Revenue decreased to 17244000 from 83748000 in the prior year quarter.
• Net loss was 53179000 compared to net income of 29253000 in Q4 2024.

In Q4 2025, Tecnoglass generated record revenues of 245297000, up 2.4% year-over-year, while net income declined to 26106000 as gross margin contracted to 40.0% and SG&A increased to 21.8% of revenues.

• Total revenues increased 2.4% year-over-year to 245297000.
• Gross profit was 98230000 with a 40.0% gross margin.

Walker & Dunlop reported a challenging fourth quarter of 2025, characterized by a net loss of $13.9 million despite a 36% increase in total transaction volume to $18.3 billion. Financial results were heavily impacted by $66.2 million in expenses related to asset impairments and costs from indemnified and repurchased loans, primarily stemming from a borrower fraud investigation. While core capital markets activity showed strong momentum, the company's bottom line and adjusted EBITDA suffered significantly from these non-recurring charges.

• Total transaction volume grew 36% year-over-year to $18.3 billion, driven by a 77% increase in brokered debt financing.
• The company reported a net loss of $13.9 million and a diluted loss per share of $0.41, down 131% from Q4 2024.

First Advantage delivered a strong Q4 2025 with revenues of $420.0 million, up 36.8% year-over-year. The company successfully integrated core Sterling Check Corp. operations, achieving $55 million in synergies. Despite a flat hiring environment, the company saw 17% growth from upsells, cross-sells, and new logos, while maintaining a 97% customer retention rate in the quarter.

• Revenues grew 36.8% year-over-year to $420.0 million in Q4 2025.
• Achieved a 97% customer retention rate and 17% growth from combined upsell, cross-sell, and new logos during the quarter.

AvePoint delivered 29% year-over-year revenue growth in Q4 2025 to 114687000, with GAAP operating income of 14525000 and ARR reaching 416800000, up 27% year-over-year.

• Total revenue increased 29% year-over-year to 114687000, driven by SaaS revenue growth of 37%.
• GAAP operating income was 14525000, representing a 12.7% operating margin.

In Q4 2025, Burford generated lower revenues compared to the prior year period, with capital provision income declining due to fewer large realizations and higher unrealized losses. The company reported a net loss and negative operating income for the quarter.

• Total revenues were 33412000, down from 93025000 in Q4 2024.
• Capital provision income was 41065000 on a consolidated basis.

Grindr delivered exceptional results for the full year 2025, achieving $439.9 million in revenue and $94.8 million in net income. The company announced a significant $400 million increase to its stock repurchase program and provided 2026 revenue guidance exceeding $528 million.

• Full year 2025 revenue grew 28% year-over-year to $439.9 million.
• Achieved a significant turnaround in profitability with net income of $94.8 million compared to a net loss in 2024.

In Q4 2025, Perrigo delivered revenue growth driven by organic net sales gains in both Consumer Self-Care segments, expanded adjusted operating margins, and increased adjusted EPS compared to the prior year period.

• Net sales increased to 1186000000 in Q4 2025.
• Organic net sales growth was 4.00% year over year.

In Q4 2025, Hertz reported revenue of 2028000000 and a net loss of 194000000, with diluted EPS of -0.72. The company cited sequential improvement in pricing metrics and improved unit economics, including lower depreciation per unit per month versus the prior year quarter.

• Revenue was 2028000000 in Q4 2025.
• Net loss improved year-over-year to 194000000 and diluted EPS was -0.72.

In Q4 2025, United Parks & Resorts generated lower revenue and earnings year over year due to decreased attendance and slightly lower per capita revenue, partially offset by record in-park spending. Adjusted results exclude a one-time non-cash bad debt write-off.

• Total revenue decreased to 373547000 from 384384000 in the prior year quarter.
• Attendance declined 2.6% to 4755000 guests.

Globant generated 612469000 in Q4 2025 revenue, reflecting a year-over-year decline, while maintaining a 9.7% IFRS operating margin and delivering net income growth with disciplined cost control and strong free cash flow generation.

• Revenue declined 4.7% year-over-year to 612469000.
• IFRS operating margin improved to 9.7% from 9.1% year-over-year.

In Q4 2025, Payoneer delivered 5% revenue growth and 9% revenue ex. interest growth year over year, supported by 10% volume growth and strong B2B performance. Net income and adjusted EBITDA both increased compared to the prior year period.

• Total revenue increased to 274693000, up 5% year over year.
• Volume grew 10% to 24800000000.

In Q4 2025, Vericel delivered 23% total revenue growth driven by MACI performance, achieved a record 79% gross margin, and increased net income and adjusted EBITDA compared to the prior year quarter.

• Total revenue increased 23% to 92918000.
• MACI revenue grew 23% to 84100000.

In Q4 2025, Nomad Foods reported revenue of 773100000 with a net loss of 10700000, impacted by refinancing-related charges. Adjusted EBITDA declined and gross margin contracted due to supply chain inflation headwinds.

• Revenue decreased 2.6% year over year to 773100000.
• Gross profit declined to 197700000 with margin contraction.

Aurinia delivered a strong fourth quarter with total revenue growing 29% year-over-year, driven primarily by increased LUPKYNIS sales. The company reported a significant net income boost due to a one-time $175.1 million income tax benefit from the release of valuation allowances on deferred tax assets.

• Q4 total revenue reached $77.1 million, a 29% increase compared to the same period in 2024.
• Net income for the quarter was $210.8 million, largely impacted by a $175.1 million non-cash income tax benefit.

In Q4 2025, PENN generated total revenues of 1806200000, up from the prior year, while net loss narrowed to 73400000. Consolidated Adjusted EBITDA increased to 225800000 driven by Interactive improvement and stable retail performance.

• Total revenues increased to 1806200000 from 1669000000 year over year.
• Net loss improved to 73400000 compared to 133800000 in Q4 2024.

Ducommun reported a strong finish to 2025 with record quarterly revenue of $215.8 million and record gross margins. Growth was primarily driven by the military and space segment, particularly in missile platforms, while commercial aerospace saw mixed results due to Boeing 737 MAX headwinds. Despite a GAAP net income increase, operating cash flow was significantly impacted by a one-time litigation settlement.

• Net revenue reached a quarterly record of $215.8 million, up 9.4% year-over-year.
• Gross margin expanded significantly by 420 basis points to a record 27.7%.

The RealReal delivered Q4 2025 GMV of 615683000 and revenue of 194051000, with gross margin expansion to 74.8% and Adjusted EBITDA of 21861000, while net loss narrowed year-over-year.

• GMV increased 22% year-over-year to 615683000.
• Total revenue rose 18% year-over-year to 194051000.

FIGS delivered Q4 2025 net revenues of 201896000, up 33.0% year over year, with net income of 18507000 and adjusted EBITDA of 26734000, reflecting improved operating leverage despite gross margin pressure.

• Net revenues increased 33.0% year over year to 201896000.
• Net income rose to 18507000 from 1885000 in the prior year.

Zai Lab delivered 17% year-over-year product revenue growth in Q4 2025, primarily driven by XACDURO and NUZYRA, while reducing net loss as revenue growth outpaced operating expense increases and foreign currency gains contributed positively.

• Total revenue increased 17% year-over-year to 127597000 in Q4 2025.
• Net loss narrowed to 50409000 from 81684000 in the prior year quarter.

Progyny generated Q4 2025 revenue of 318403000, up 6.7% year over year, with gross margin expanding to 24.1% and net income increasing to 12485000, alongside adjusted EBITDA of 51388000.

• Revenue increased 6.7% year over year to 318403000.
• Gross margin expanded to 24.1% from 21.3%.

Strategic Education generated Q4 2025 revenue of 323210000, up 3.8% year over year, with operating income rising to 51635000 and net income increasing to 37909000, reflecting margin expansion across segments.

• Revenue increased 3.8% year over year to 323210000.
• Operating income rose to 51635000 with margin expanding to 16.0%.

ICF generated Q4 2025 revenue of 443673000, down year over year, with net income of 17313000 and adjusted EBITDA of 45958000, while total backlog remained strong at 3400000000.

• Revenue declined to 443673000 from 496324000 due to federal government slowdown.
• Net income was 17313000 with net income margin of 3.9%.

MannKind generated 111955000 in total revenue in Q4 2025, up 46% year-over-year, driven by contributions from Furoscix, Afrezza growth, and higher royalties and collaborations revenue. The company reported a net loss of 15948000 and an operating loss of 7687000 for the quarter.

• Total revenue increased 46% year-over-year to 111955000.
• Furoscix contributed 23178000 in revenue following the October acquisition.

Revenue increased 13.1% year-over-year to 244832000, driven by organic growth and acquisitions, while GAAP net income declined to 35561000. Adjusted EBITDA rose to 98768000 with a slightly lower margin.

• Revenue grew 13.1% year-over-year to 244832000, or 11.4% on a constant currency basis.
• GAAP net income attributable to common shareholders declined 11.2% to 35561000.

Willdan delivered solid Q4 2025 performance with contract revenue up 20.6% and net income rising 143.4% year-over-year, driven by growth in its Energy segment and improved profitability.

• Contract revenue increased 20.6% year-over-year to 173687000.
• Net income surged 143.4% year-over-year to 18713000.

In Q4 2025, Syndax generated $68728000 in total revenue, primarily from Revuforj and Niktimvo, but reported a net loss of $68014000 as R&D and SG&A expenses increased year-over-year.

• Total revenue reached 68728000 in Q4 2025, driven by product and collaboration revenue.
• Revuforj net revenue was 44195000, reflecting continued commercial uptake.

Daqo New Energy generated 221711000 in revenue in Q4 2025, delivering 15439000 of gross profit and a net loss attributable to shareholders of 7280000. Polysilicon production rose to 42181 MT while average total production cost fell to 5.83 per kg, supporting a 23.7% non-GAAP EBITDA margin.

• Revenue was 221711000 and gross margin was 7.0% in Q4 2025.
• Net loss attributable to shareholders improved to 7280000 with loss per basic ADS of 0.11.

In Q4 2025, PureCycle generated 2700000 in revenue with record production of 7.5 million pounds, while reporting ongoing operating and net losses as it continues ramping operations and funding growth initiatives.

• Revenue reached 2700000 in Q4 with a fourth consecutive quarter of sequential growth.
• Produced a record 7500000 pounds of PureFive recycled polypropylene.

The Baldwin Group (BWIN) delivered a solid fourth quarter with total revenue increasing 5% to $347.3 million and organic revenue growth of 3%. While the company reported a GAAP net loss of $43.7 million, adjusted net income reached $36.3 million and adjusted EBITDA grew 10% to $69.6 million. For the full year, the company achieved $1.5 billion in revenue and expanded its adjusted EBITDA margin to 22.7%.

• Authorized a new $250 million share repurchase program for its common stock.
• Achieved 15% year-over-year growth in adjusted diluted EPS for the fourth quarter.

In Q4 2025, Relay generated 7000000 in license revenue and narrowed its net loss to 54889000 as research and administrative expenses declined year-over-year, ending the quarter with over 554000000 in cash and investments.

• Recorded 7000000 in license and other revenue in Q4 2025.
• Reduced R&D expenses to 55415000 from 68075000 year-over-year.

Net sales increased 16% year-over-year to 268688000, driven by acquisitions in Residential and Agtech, while GAAP net income declined significantly to 11798000 primarily due to a prior-year gain on sale and acquisition-related costs.

• Net sales grew 16% year-over-year to 268688000 driven by acquisitions.
• GAAP net income declined to 11798000 impacted by prior-year gain and acquisition costs.

In Q4 2025, DoubleVerify generated 205588000 in revenue, up 8% year-over-year, with net income of 29329000 and adjusted EBITDA of 77842000, reflecting a 38% adjusted EBITDA margin.

• Total revenue increased 8% year-over-year to 205588000.
• Adjusted EBITDA reached 77842000 with a 38% margin.

Fourth quarter revenue increased 3% year-over-year to 103648000, driven by 10% software growth, while the company reported a net loss of 5895000 and adjusted EBITDA of 32467000.

• Total revenue grew 3% year-over-year to 103648000.
• Software revenue increased 10% while services revenue declined 1%.

Fourth quarter net sales increased 12.5% year-over-year to 256460000, while net income rose to 81700000 from 5640000 in the prior year, reflecting improved operating profit and a significant income tax benefit.

• Total company net sales grew 12.5% to 256460000.
• Operating profit increased to 42800000 from 8620000 year-over-year.

In Q4 2025, Nexa generated net revenues of 903000000 and net income of 81000000, with Adjusted EBITDA reaching 300000000, reflecting improved pricing and operational performance across mining and smelting segments.

• Net revenues totaled 903000000 in Q4 2025, up 18% quarter-over-quarter.
• Adjusted EBITDA reached 300000000, up from 186000000 in 3Q25 and 197000000 in 4Q24.

Novavax reported Q4 2025 total revenue of 147139000 and net income of 17527000, compared to a net loss in the prior year period. Operating income turned positive to 14230000 as R&D and SG&A expenses declined materially year-over-year.

• Total revenue increased to 147139000 from 88311000 year-over-year.
• Net income was 17527000 compared to a net loss of 81030000 in Q4 2024.

Fourth quarter revenue increased 4.6% to 517500000, driven by strong Active Group growth, while operating margin expanded to 9.4% and diluted EPS rose to 0.38.

• Total revenue grew 4.6% to 517500000, led by 12.4% growth in Active Group.
• Gross margin expanded 340 basis points to 47.0%.

Collaboration revenue increased to 23017000 in the fourth quarter of 2025, while net loss narrowed to 95786000 compared to 128898000 in the prior year period, driven by lower operating expenses.

• Collaboration revenue rose to 23017000 from 12874000 year-over-year.
• Research and development expenses decreased to 88652000 from 116877000.

Product revenues increased 13% year-over-year to 205449000, driven by 57% growth in Jornay PM to 45900000, while net income rose to 16963000 and adjusted EBITDA reached 127286000.

• Total product revenues grew 13% to 205449000 year-over-year.
• Jornay PM revenue increased 57% to 45900000 with prescriptions up 16%.

Enovis reported a challenging fourth quarter with a significant net loss due to a $501 million non-cash goodwill impairment charge, despite achieving 3% reported sales growth. The company saw continued momentum in its Reconstructive segment while the Prevention & Recovery segment remained stable, and management highlighted positive free cash flow and debt reduction for the full year.

• Fourth quarter net sales grew 3% on a reported basis to $576 million, driven by 7% growth in the Reconstructive segment.
• The company recorded a massive $519 million net loss from continuing operations, primarily due to a $501 million non-cash goodwill impairment charge.

Revenue increased to 720000000 from 678000000 year-over-year, while net income from continuing operations attributable to NCR Voyix was 78000000 compared to a loss in the prior year, and adjusted EBITDA rose to 130000000.

• Total revenue grew 6% year-over-year to 720000000.
• Net income from continuing operations was 78000000 versus a loss of 11000000 last year.

Ecovyst completed a transformational year marked by the $556 million divestiture of its Advanced Materials & Catalysts segment and the acquisition of the Waggaman assets. The company significantly deleveraged its balance sheet, reducing its net debt leverage ratio to 1.2x, while delivering Q4 sales growth of 33.9% driven by higher virgin sulfuric acid volumes and sulfur cost pass-throughs.

• Completed the sale of the Advanced Materials & Catalysts segment for $556 million to Technip Energies.
• Utilized $465 million in divestiture proceeds to pay down the Term Loan, achieving a 1.2x net debt leverage ratio.

Amphastar reported a slight decline in Q4 revenue to $183.1 million, primarily due to lower sales of Glucagon and Epinephrine, which were partially offset by a 12% increase in BAQSIMI® sales. Despite the revenue dip, the company maintained a strong gross margin of 46.8% and continued to invest heavily in its R&D pipeline, particularly in insulin and inhalation products.

• BAQSIMI® sales grew 12% year-over-year in Q4, driven by increased unit volumes from marketing efforts in the U.S.
• Glucagon sales saw a significant 45% decrease in Q4 due to lower average selling prices and increased competition.

Fourth quarter revenue increased 22.7% year-over-year to 362747000, while net income rose to 38499000 with diluted EPS of 1.04. Gross margin improved to 22.9% and adjusted EBITDA grew 39.2% to 42976000.

• Revenue grew 22.7% year-over-year to 362747000.
• Gross margin expanded to 22.9% from 22.0% in the prior year.

Revenue increased to 678800000, up 4.4% year-over-year, while net loss was 309300000 primarily due to a non-cash impact from contingent consideration; adjusted EBITDA rose to 201400000.

• Revenue grew 4.4% year-over-year to 678800000.
• Direct-to-Consumer revenue reached 250100000, up 43.2% year-over-year.

Arhaus delivered record net revenue for the full year 2025, driven by showroom expansion and strong client engagement. While Q4 saw a slight decline in net income compared to the previous year, the company maintained a debt-free balance sheet and announced a special cash dividend of $0.35 per share.

• Net revenue for Q4 2025 increased to $364.8 million compared to $347.0 million in Q4 2024.
• The company announced a special cash dividend of $0.35 per share payable in March 2026.

Fourth quarter net revenues increased 8% year-over-year to 174350000, primarily driven by higher active patients on therapy, while net loss improved to 24499000 compared to 65922000 in the prior year period.

• Total net revenues grew 8% year-over-year to 174350000.
• Gross margin declined to 76% from 79% in the prior year.

Fourth quarter 2025 revenue declined 6% year-over-year to 498179000, with net income of 8630000 and diluted EPS of 0.21. North America comparable sales fell 5.4%, while International comparable sales increased 5.9%.

• Total revenues decreased 6.1% year-over-year to 498179000.
• Net income declined to 8630000 from 14959000 in the prior year quarter.

Arlo delivered a strong Q4 2025, characterized by record subscription and services revenue of $89.4 million and a massive 138.2% year-over-year increase in Adjusted EBITDA. The company successfully transitioned its business model, with services now accounting for over 63% of total revenue, driving consolidated non-GAAP gross margins to a record 47.8%.

• Annual Recurring Revenue (ARR) grew 28.4% year-over-year to reach $330.5 million.
• Subscription and services revenue hit a record $89.4 million, representing 63.3% of total Q4 revenue.

Net revenue increased 28.7% year-over-year to 213552000, while net income rose to 16324000 and adjusted EBITDA improved to 29242000, reflecting strong volume growth and price/mix benefits.

• Net revenue grew 28.7% year-over-year to 213552000.
• Gross profit increased to 76425000 with gross margin of 35.8%.

In Q4 2025, Clover Health generated 487707000 in total revenue, up 44.7% year-over-year, but reported a net loss of 49320000 and negative adjusted EBITDA of 23333000 as its Insurance Benefits Expense Ratio rose to 95.0%.

• Total revenue increased 44.7% year-over-year to 487707000.
• Net loss from continuing operations was 49320000 compared to 21481000 in Q4 2024.

In Q4 2025, Hagerty grew total revenue 19% year over year to $357.326 million and increased net income 238% to $28.559 million, with a significantly improved loss ratio of 31.4%.

• Total revenue increased 19% year over year to 357326000.
• Net income increased 238% year over year to 28559000.

RLJ Lodging Trust achieved solid Q4 results that exceeded outlook expectations, driven by urban market outperformance and robust non-room revenue growth. Despite a 1.5% decline in comparable RevPAR due to a protracted government shutdown, the company maintained strong liquidity of over $1.0 billion and successfully addressed all debt maturities through 2028.

• Comparable RevPAR decreased 1.5% to $136.79, primarily impacted by the extended U.S. government shutdown starting in October.
• The company ended the year with over $1.0 billion in liquidity, including $410.2 million in unrestricted cash.

In Q4 2025, Lindblad Expeditions increased tour revenues 23% to 183181000 and delivered Adjusted EBITDA of 14151000, while net loss available to stockholders improved to 24814000.

• Tour revenues increased 23% year over year to 183181000.
• Adjusted EBITDA rose to 14151000 from 13430000 in the prior year period.

Opera reported fourth quarter 2025 revenue of 177210000, up 22% year-over-year, with net income of 55705000 and diluted EPS of 0.61. Adjusted EBITDA reached 41890000 with a 24% margin, supported by strong advertising and query revenue growth.

• Revenue increased 22% year-over-year to 177210000.
• Net income rose 94% year-over-year to 55705000 with a 31% margin.

In Q4 fiscal 2025, CRA grew revenue 11.6% year over year to 196963000, with utilization of 78%, while GAAP net income declined to 13185000 and non-GAAP EBITDA was 24350000.

• Revenue increased 11.6% year over year to 196963000.
• GAAP net income decreased 12.0% year over year to 13185000.

iQIYI generated USD971600000 of revenue in Q4 2025 (+3% YoY). Operating income was USD7900000 (1% margin). Net loss attributable to iQIYI was USD800000, while non-GAAP net income attributable to iQIYI was USD15700000. Free cash flow was USD3800000.

• Total revenue was USD971600000, up 3% year over year.
• Operating income was USD7900000 with a 1% operating margin.

In Q4 2025, Nordic American Tankers generated net voyage revenue of 58755000 and net income of 11660000, with EBITDA of 34695000, supported by an average TCE of 35000 per day per vessel.

• Net income was 11660000 compared to a net loss of 2781000 in Q3 2025.
• Adjusted EBITDA reached 34695000, the highest quarterly result of the year.

MidCap Financial (MFIC) delivered solid net investment income of $0.39 per share for Q4 2025, though Net Asset Value (NAV) declined by 3.3% to $14.18 due to valuation adjustments on older investment vintages. The company remains active in capital allocation, repurchasing $12.9 million of stock during the quarter and authorizing a significant new buyback program while adjusting its quarterly dividend to $0.31 per share.

• Net investment income per share was $0.39, slightly exceeding the previous quarter's $0.38.
• Net Asset Value per share decreased to $14.18 from $14.66, primarily driven by a handful of 2022 and earlier vintage investments.

Goldman Sachs BDC (GSBD) reported a decrease in net asset value per share to $12.64. The company generated net investment income of $0.37 per share, covering its $0.32 base dividend. Total investment income decreased year-over-year due to lower interest rates and tighter credit spreads, while the portfolio remains heavily weighted toward first lien senior secured debt.

• Net asset value (NAV) per share decreased 0.9% during the quarter to $12.64.
• The company declared a Q1 2026 base dividend of $0.32 per share and a Q4 2025 supplemental dividend of $0.03 per share.

Cronos achieved record Q4 2025 net revenue of 44531000, up 47% year-over-year, driven by higher cannabis flower sales in Israel and other countries and stronger Canadian extract sales. Gross profit increased 50% to 16189000, and Adjusted EBITDA turned positive at 456000. The company reported a net loss of 491000 in the quarter.

• Net revenue increased 47% year-over-year to 44531000, a quarterly record.
• Gross profit rose 50% to 16189000, with gross margin steady at 36%.

Clear Channel Outdoor Holdings reported an 8.2% increase in consolidated revenue for Q4 2025, reaching $461.5 million. The company also announced a definitive agreement to be acquired by Mubadala Capital and TWG Global for $2.43 per share in cash, expected to close in Q3 2026.

• Consolidated revenue grew 8.2% year-over-year to $461.5 million in Q4 2025.
• The company entered into a definitive agreement to be acquired by Mubadala Capital for $2.43 per share.

Fortrea delivered fourth-quarter results in line with full-year targets, showing resilience after a challenging first half of the year. While revenue declined year-over-year, the company achieved a strong book-to-bill ratio of 1.14x and focused on debt reduction and cost-saving initiatives to strengthen its balance sheet.

• Fourth quarter revenue reached $660.5 million, meeting the company's stated full-year targets despite a year-over-year decline.
• Achieved a robust Q4 book-to-bill ratio of 1.14x, indicating strong new business awards and a journey back to growth.

In Q4 2025, Pacira generated total revenues of 196873000 and GAAP net income of 1637000, as higher operating expenses offset revenue growth, while adjusted EBITDA was 38709000.

• Total revenues increased 5% year-over-year to 196873000.
• EXPAREL sales grew to 155782000, up from 147676000 in Q4 2024.

In Q4 2025, SMP generated net sales of 385090000 and net earnings attributable to SMP of 7862000, with operating income of 21573000. Adjusted EBITDA increased to 37373000, representing 9.7% of net sales.

• Net sales increased 12.2% year over year to 385090000.
• Operating income rose to 21573000 from 3880000 in the prior year period.

In Q4 2025, Phathom generated net revenues of 57584000, with operating expenses of 55865000 and a net loss of 21148000. Non-GAAP adjusted net loss improved significantly to 5735000, reflecting lower operating expenses and continued VOQUEZNA growth.

• Net revenues increased to 57584000 from 29664000 in the prior year period.
• Operating expenses declined to 55865000 from 85266000 year over year.

Integra LifeSciences reported a slight revenue decline in Q4 2025, impacted by remediation efforts in its Tissue Technologies segment, while showing organic growth in its Codman Specialty Surgical business. The company is undergoing a transformation plan to improve long-term margins and operational accountability.

• Reported Q4 revenues of $434.9 million, a 1.7% decrease compared to the prior year.
• Codman Specialty Surgical segment grew 2.7% reported, driven by strong performance in Neurosurgery and International markets.

OPKO reported Q4 2025 total revenue of 148500000 and a net loss of -31300000, driven by a consolidated operating loss of -38300000. Services revenue declined due to BioReference asset sales and lower volumes, while product revenue increased and IP/other revenue included a Regeneron upfront payment and Eli Lilly royalty revenue.

• Total revenue was 148500000 versus 183600000 in the prior-year quarter.
• Operating loss widened to -38300000 from -33100000 in the prior-year quarter.

PAR Technology generated Q4 2025 revenue of 120101000, up year-over-year, driven by subscription service growth. ARR reached 315400000 with strong expansion across Engagement Cloud and Operator Cloud, while the company reported a GAAP net loss of -20894000 and positive adjusted EBITDA of 7046000.

• Total revenue increased to 120101000, up from 105005000 in Q4 2024.
• Annual Recurring Revenue grew to 315400000, up 16% year-over-year.

For Q4 2025, Bain Capital Specialty Finance generated net investment income of 29700000, or 0.46 per share, and net income per share of 0.43. The company maintained stable credit metrics with low non-accrual levels and ended the quarter with a net asset value per share of 17.23 and net debt-to-equity of 1.24x.

• Net investment income per share was 0.46, covering the 0.42 regular dividend.
• Total fair value of investments was 2508400000 across 203 portfolio companies.

Hepsiburada delivered strong top-line growth in Q4 2025 with GMV increasing 10.5% and revenue up 17.8% year-over-year. Despite the revenue growth, the company faced significant profitability headwinds, reporting a net loss of TRY 3.1 billion and a near-zero EBITDA due to increased investments in growth initiatives, marketing, and merchant delivery subsidies.

• GMV grew 10.5% to TRY 85.3 billion, driven by a 17.6% increase in order volume.
• Revenue increased 17.8% to TRY 28.0 billion, supported by strong growth in 1P sales and delivery services.

Castle Biosciences reported Q4 2025 revenue of 87010000 with core revenue driver test report volume up 42% year-over-year. The quarter produced an operating loss of 3827000 and a net loss of 2332000, while non-dermatologic test revenue increased to 38400000.

• Revenue was 87010000, up from 86311000 in Q4 2024.
• Core revenue driver test reports (DecisionDx-Melanoma and TissueCypher) increased to 21825 from 15344 in Q4 2024.

In Q4 2025, Butterfly reported total revenue of 31514000, up 41% year-over-year, with gross profit of 21221000 and gross margin of 67.3%. Net loss was 15292000, while adjusted EBITDA loss narrowed to 3228000. Cash and cash equivalents totaled 150489000 at quarter end.

• Revenue grew 41% year-over-year to 31514000.
• Gross margin expanded to 67.3% from 61.4% prior year.

Fourth quarter revenue increased 16% year-over-year to 35214000, driven by new Gen-3 satellite and mission solutions contracts. Net loss narrowed to 868000, while adjusted EBITDA improved to 8818000.

• Revenue grew 16% year-over-year to 35214000.
• Net loss narrowed significantly to 868000 from 19420000 in the prior year.

Betterware (BeFra) achieved a 1.2% year-over-year increase in consolidated net revenue for Q4 2025, reaching Ps. 3,825.5 million. While gross margins faced temporary pressure from FX-related impacts, the company saw a strong recovery in EBITDA and net income compared to the previous year. Cash generation remained a standout strength with an 83% EBITDA-to-cash conversion, and the company announced the completion of the Tupperware Latam acquisition to drive future growth.

• Consolidated net revenue increased 1.2% YoY to Ps. 3,825.5 million, driven by growth in Jafra Mexico and a return to growth for Jafra US.
• EBITDA grew 42.4% YoY to Ps. 726.5 million, with an EBITDA margin of 19.0%, reflecting disciplined expense management.

Titan International delivered a solid fourth quarter with a 7% revenue increase to $410.4 million, driven by strong performance in the Earthmoving/Construction segment. Despite a GAAP net loss due to significant non-cash tax valuation allowances, the company saw improvements in gross margin and Adjusted EBITDA.

• Revenues grew 7% year-over-year to $410.4 million for the fourth quarter.
• Earthmoving/Construction segment was a standout with 21% revenue growth and significant margin expansion.

FTAI Infrastructure saw a substantial increase in revenue and Adjusted EBITDA for Q4 2025 compared to the prior year, despite reporting a net loss. The company successfully refinanced its bridge facility with a new $1.315 billion term loan and is actively pursuing M&A opportunities in its railroad segment.

• Reported Q4 Adjusted EBITDA of $80.2 million, representing a $320.8 million annual run rate.
• Total revenues for Q4 2025 increased to $143.5 million from $80.8 million in Q4 2024.

In Q4 2025, Cars.com generated revenue of 183903000, up 2% year over year, with net income of 7398000 and Adjusted EBITDA of 54896000. Dealer revenue growth offset declines in OEM and National revenue.

• Revenue increased 2% year over year to 183903000, a quarterly record.
• Dealer revenue grew 3% to 164423000, while OEM and National revenue declined 9%.

Sweetgreen's Q4 2025 was marked by a 3.5% revenue decrease and a significant same-store sales decline of 11.5%. The company attributed the softness to a selective consumer environment and the transition from Sweetpass+ to SG Rewards. Despite these headwinds, digital revenue reached 65.1% of total sales, and the company is moving forward with its 'Sweet Growth Transformation Plan' to improve operational execution and culinary standards.

• Total revenue decreased 3.5% year-over-year to $155.2 million for the fourth quarter.
• Same-store sales fell by 11.5%, driven by a 13.3% decrease in traffic and mix, partially offset by price increases.

Cable One (Sparklight) reported a 6.1% year-over-year revenue decline to $363.7 million for Q4 2025, primarily driven by a decrease in residential video subscribers. While the company posted a net loss of $7.6 million, this was a significant improvement from the $105.2 million loss in the prior year quarter, which had been impacted by a large non-cash impairment. Residential data connect activity showed growth, and disconnect trends improved compared to the third quarter of 2025.

• Total revenues decreased 6.1% year-over-year, largely due to a $7.7 million decline in residential video revenue.
• Net loss improved to $7.6 million compared to a $105.2 million loss in Q4 2024, which included a $111.7 million impairment.

In Q4 2025, Shentel generated total revenue of 91592000, up 7.2% year over year, with Adjusted EBITDA of 33471000 and a net loss from continuing operations of 5373000. Adjusted EBITDA margin expanded to 37%.

• Total revenue increased 7.2% year over year to 91592000.
• Adjusted EBITDA grew 31.3% to 33471000.

Emergent BioSolutions faced a challenging fourth quarter with total revenues falling to $148.7 million, primarily driven by a 41% drop in Naloxone sales due to generic competition. Despite the quarterly loss, the company achieved full-year profitability with net income of $52.6 million and reduced its debt by $100 million as part of its multi-year turnaround strategy.

• Total revenues for Q4 2025 decreased 24% to $148.7 million compared to $194.7 million in Q4 2024.
• Naloxone product sales fell 41% due to increased generic competition impacting price and unit sales.

In Q4 2025, Koppers generated net sales of 432700000 and net income attributable to Koppers of 29700000, compared to a net loss in the prior year period. Adjusted EBITDA was 53200000, with margin expansion in Railroad and Utility Products and Services and Performance Chemicals.

• Net sales declined 9.3% year over year to 432700000.
• Net income attributable to Koppers improved to 29700000 from a loss of 10200000.

Cytek Biosciences achieved record Q4 revenue of $62.1 million, an 8% year-over-year increase. Despite the revenue growth, the company reported a significant net loss of $44.1 million, primarily due to a $38.1 million non-cash valuation allowance against deferred tax assets. Adjusted EBITDA for the quarter was $4.5 million, down from $12.5 million in the prior year due to increased operating expenses.

• Achieved record quarterly revenue of $62.1 million, representing 8% year-over-year growth.
• Total installed base expanded to 3,664 instruments with 630 placements during the full year 2025.

In Q4 2025, Krispy Kreme generated $392367000 in revenue, down 2.9% year-over-year, with organic revenue declining 3.9% due to strategic door closures. The company reported a GAAP net loss of $29125000, while Adjusted EBITDA rose 21.0% to $55565000, expanding margin to 14.2%. Free cash flow was positive at $27934000, reflecting improved operating performance despite lower sales.

• Net revenue declined 2.9% year-over-year to $392367000, with organic revenue down 3.9%.
• GAAP net loss widened to $29125000, with diluted EPS of -0.17.

Compass Diversified (CODI) reported a decrease in Q4 revenue to $468.6 million, primarily impacted by the deconsolidation of Lugano on November 16, 2025. Despite a GAAP net loss of $78.8 million, the company saw strong performance in its remaining subsidiaries, with non-GAAP Adjusted EBITDA for the quarter rising significantly to $91.0 million compared to the prior year.

• Deconsolidated Lugano Holding, Inc. on November 16, 2025, resulting in a $111.9 million loss on deconsolidation.
• Q4 Adjusted EBITDA grew to $91.0 million from $37.8 million in the prior year period.

Revenue increased year-over-year primarily due to a lease termination fee, while the company recorded a significant net loss attributable to common stockholders driven by impairment losses and other non-operating charges.

• Total revenue increased to 256027000 from 209666000 year-over-year.
• Net loss attributable to common stockholders widened to 277919000.

Total revenue reached 792000000 in Q4 2025, driven by solid core advertising and retransmission revenue, while the company reported a net loss attributable to common stockholders of 23000000 and Adjusted EBITDA of 179000000.

• Total revenue was 792000000, exceeding prior guidance.
• Core advertising revenue increased 3% year-over-year to 392000000.

Total revenue increased 2.8% year-over-year to 193498000, with operating income of 1738000 and net earnings of 5956000. Growth was supported by box office momentum, higher ticket prices, and improved hotel RevPAR.

• Total revenue rose to 193498000, up from 188313000 in the prior year quarter.
• Operating income improved to 1738000 from an operating loss of 2184000 last year.

OrthoPediatrics delivered a strong fourth quarter with revenue growing 17% year-over-year to $61.6 million, driven by robust performance in the Scoliosis and Trauma & Deformity segments. While the company reported a net loss of $10.1 million, it achieved positive Adjusted EBITDA of $4.8 million for the quarter and provided a positive outlook for 2026, targeting free cash flow breakeven.

• Q4 2025 revenue increased 17% to $61.6 million compared to $52.7 million in Q4 2024.
• The Scoliosis segment showed significant growth, with Q4 revenue rising to $17.6 million from $15.6 million in the prior year.

Fourth quarter revenue increased to 20728000 driven by HEPZATO KIT sales in the U.S., with gross margins of 85% and positive adjusted EBITDA of 2401000, while reporting a net loss of 1896000.

• Total revenue grew to 20728000, up from 15100000 in the prior year quarter.
• HEPZATO KIT generated 19000000 in U.S. revenue, while CHEMOSAT contributed 1700000 in Europe.

SITE Centers reported a strong fourth quarter driven by the sale of eight properties for $380 million, leading to a significant increase in net income compared to the prior year. The company successfully paid off its remaining consolidated mortgage loan balance and returned capital to shareholders through special distributions, while maintaining a focused strategy on maximizing value from its remaining retail assets.

• Sold eight properties in Q4 for a total of $380.0 million, contributing to a total of 14 properties sold in 2025 for $752.5 million.
• Paid off the remaining consolidated mortgage loan balance of $64.0 million in December 2025.

Puma Biotechnology achieved its third consecutive year of profitability in 2025. For Q4 2025, the company reported total revenue of $75.5 million, a significant increase from $59.1 million in Q4 2024, primarily due to higher product and royalty revenues. While GAAP net income decreased year-over-year due to tax valuation allowance adjustments, the company maintained a strong cash position and significantly reduced its total debt.

• Total revenue for Q4 2025 grew to $75.5 million, up from $59.1 million in the prior year period.
• Product revenue from NERLYNX reached $59.9 million in Q4, representing approximately 10% year-over-year growth.

National CineMedia (NCM) delivered a strong fourth quarter with revenue growth of 8% to $93.2 million, outperforming theater attendance growth. The company saw operating income rise to $23.8 million and net income reach $29.3 million. Despite a full-year net loss, the company's Q4 performance exceeded guidance for Adjusted OIBDA and showed improved advertiser demand heading into a promising 2026 film slate.

• Q4 revenue grew 8% year-over-year to $93.2 million, driven by strong advertiser demand that outpaced theater attendance.
• Operating income for the quarter increased to $23.8 million compared to $20.0 million in the prior year period.

Total Q4 2025 revenue increased to 57620000, supported by 54300000 in net product revenue including 6200000 from Vafseo, while net loss improved to 12244000 compared to 22804000 in the prior year period.

• Total revenue rose to 57620000 from 46497000 year-over-year.
• Vafseo generated 6200000 in Q4 net product revenue in its first year of launch.

For Q4 2025, time charter revenues were 52054000 and net income attributable to common stockholders was 1687000, down from the prior year period, reflecting vessel sales and increased drydocking days.

• Time charter revenues declined to 52054000 from 57073000 year-over-year.
• Net income attributable to common stockholders was 1687000 compared to 8295000 in Q4 2024.

Ready Capital faced a challenging fourth quarter with significant GAAP and distributable losses, primarily driven by a $150 million provision for loan losses and realized losses on investment sales. Despite these headwinds, the company is executing a liquidity plan to reposition equity away from 'Covid-vintage' production and recently completed a major $855 million loan sale subsequent to quarter-end.

• Reported a GAAP loss from continuing operations of $232.6 million, or $(1.46) per share.
• Distributable loss per share was $(0.43), or $(0.09) before realized losses on investments.

Q4 2025 net product sales were 40588000, driven by growth in ZYNRELEF and APONVIE, while Oncology revenues declined. The company reported a net loss of 2954000 and operating income of 38000.

• Total net product sales were 40588000 compared to 40781000 in Q4 2024.
• ZYNRELEF revenue increased to 12530000 from 8457000 year-over-year.

Braemar's fourth quarter was characterized by strong performance in its luxury resort portfolio, which saw a 4.1% RevPAR increase, offset by disruption from significant renovations at three key properties. The company is currently undergoing a formal sale process and successfully completed the sale of 'The Clancy' in San Francisco for $115 million during the quarter.

• Initiated a formal company sale process with Robert W. Baird & Co. as financial advisor.
• Sold 'The Clancy' hotel in San Francisco for $115 million ($280,000 per key) at a 5.2% cap rate.

Oportun delivered its fifth consecutive quarter of GAAP profitability in Q4 2025, exceeding its Adjusted EBITDA guidance by 15%. Despite a slight year-over-year decline in total revenue due to the exit of its credit card business, the company saw significant improvements in full-year net income and adjusted efficiency metrics, driven by disciplined expense management and a focus on high-quality originations.

• Achieved fifth consecutive quarter of GAAP profitability with Q4 net income of $3.4 million.
• Adjusted EBITDA of $42 million exceeded the top end of the company's guidance range by 15%.

Total Q4 2025 revenue increased to 191619000, led by 118990000 in SaaS revenue, while the company reported a net loss of 9660000 and generated consolidated Adjusted EBITDA of 38880000 with a 20.3% margin.

• SaaS revenue grew 14.1% year-over-year to 118990000 and represented over 62% of total revenue.
• Marketing Services revenue declined 11.7% year-over-year to 72629000.

TTEC's fourth quarter was defined by a $205.4 million non-cash goodwill impairment charge related to its Digital unit, resulting in a GAAP net loss despite a slight revenue increase. On a non-GAAP basis, the company saw improved profitability and margins compared to the prior year, with the Digital segment growing revenue by 9.2%.

• GAAP revenue increased 0.4% to $570.0 million compared to the prior year quarter.
• A $205.4 million non-cash goodwill impairment charge led to a GAAP net loss of $170.5 million.

Q4 2025 revenue was 30615000, flat year-over-year, as Commercial Channel revenue increased 22% to 13302000 while OEM Channel revenue declined 12% to 17313000. Gross margin expanded to 63% and GAAP income from continuing operations was 1801000.

• Revenue was 30615000, essentially flat versus 30602000 in Q4 2024.
• Commercial Channel revenue increased 22% to 13302000, while OEM Channel revenue declined 12% to 17313000.

Fourth quarter 2025 revenue was 682800000, down 0.4% year-over-year, as Public Cloud grew 6% to 442200000 while Private Cloud declined 10% to 240600000. Net loss narrowed to 32700000 and Non-GAAP Operating Profit increased to 41200000.

• Total revenue declined 0.4% year-over-year to 682800000.
• Public Cloud revenue increased 6% to 442200000, while Private Cloud fell 10% to 240600000.

Nerdy delivered Q4 revenue of $49.1 million, exceeding guidance and growing 2% year-over-year. The company achieved a significant milestone by reaching positive non-GAAP adjusted EBITDA of $1.3 million, driven by a shift toward higher-frequency Learning Memberships and operational efficiencies from AI-driven automation.

• Returned to positive year-over-year revenue growth for the first time since Q1 2024.
• Achieved positive non-GAAP adjusted EBITDA of $1.3 million, beating the top end of guidance.