Reports

Costco delivered strong second-quarter results with net sales growing 9.1% to $68.2 billion and net income rising 13.8% to $2.04 billion. The performance was driven by robust membership growth, a 22.6% surge in digitally-enabled sales, and improved gross margins, despite ongoing global economic fluctuations.

• Net sales increased 9.1% year-over-year to $68.2 billion, supported by a 7.4% total company comparable sales growth.
• Membership income grew by 13.6% (12.2% ex-FX), with worldwide renewal rates holding strong at 89.7%.

CNRL generated CAD 9609000000 in revenue in Q4 2025 and reported net income of CAD 5303000000, significantly higher than the prior year due largely to a CAD 4989000000 gain on acquisitions, disposition, and remeasurement associated with the AOSP asset swap.

• Quarterly revenue reached CAD 9609000000, slightly above the prior year.
• Net income surged to CAD 5303000000 driven by a CAD 4989000000 asset swap gain.

Marvell delivered record Q4 revenue with strong growth in its data center business and expanding margins, driven by demand for AI infrastructure and cloud data center connectivity solutions.

• Revenue reached a quarterly record with strong growth in the data center segment.
• Net income nearly doubled year-over-year reflecting strong operating leverage.

Ciena delivered strong Q1 2026 performance with revenue rising 33% year over year to $1427042000 and net income increasing to $150283000. Operating income more than doubled as demand for optical networking and AI-driven infrastructure accelerated.

• Revenue increased 33.1% year over year driven by strong demand for optical networking infrastructure.
• Adjusted EPS more than doubled year over year reflecting strong operating leverage.

Kroger concluded its fiscal year 2025 with a strong fourth quarter, characterized by a 2.4% increase in identical sales (excluding fuel) and a significant 20% growth in adjusted eCommerce sales. While the full-year results were impacted by a $2.5 billion impairment charge related to the automated fulfillment network, the company achieved adjusted FIFO operating profit growth and provided optimistic guidance for 2026, focusing on eCommerce profitability and productivity gains.

• Identical sales without fuel increased 2.4% in Q4, driven by improving market share trends and solid customer value propositions.
• Adjusted eCommerce sales grew 20% in the quarter, with the company expecting this segment to reach profitability in 2026.

JD.com generated $50.376B in revenue in Q4 2025, up 1.5% year-over-year, but reported a net loss of $388M as operating margins turned negative amid higher marketing, fulfillment, and technology investments tied to new initiatives.

• Revenue increased 1.5% year-over-year to $50.376B driven by strong service revenue growth.
• Operating margin turned negative as investments in marketing and new businesses increased expenses.

Burlington delivered a strong Q4 performance with 11% sales growth, 4% comparable store sales growth, and expanded margins. Net income increased year over year while adjusted EPS grew significantly due to operating leverage and improved merchandise margins.

• Total sales increased 11% year over year to $3.64B with comparable store sales rising 4%.
• Gross margin expanded to 43.7% from 42.9% due to merchandise margin improvements and lower freight expense.

CooperCompanies delivered a strong start to fiscal 2026, exceeding revenue and operating margin expectations. Growth was primarily driven by the CooperVision MyDay portfolio and effective cost synergies from recent reorganizations, leading the company to raise its full-year earnings and free cash flow guidance.

• Revenue reached $1.024 billion, a 6% increase year-over-year (3% organic growth).
• Non-GAAP Diluted EPS rose 20% to $1.10, benefiting from operating expense leverage and lower interest costs.

Samsara delivered strong Q4 results with revenue growing 28% year-over-year to $444.30M and ARR reaching $1.89B. The company achieved GAAP profitability for the second consecutive quarter while expanding operating margins and maintaining strong free cash flow generation.

• Revenue increased 28% year-over-year to $444.30M.
• Annual recurring revenue reached $1.89B, growing 30% year-over-year.

BJ’s generated $5575388000 in total revenue in Q4 fiscal 2025, supported by membership growth and steady traffic trends. Net income rose to $125854000 while comparable club sales increased modestly year over year.

• Total revenue reached $5575388000 in the fourth quarter, up year over year.
• Net income increased to $125854000 with diluted EPS of $0.96.

Guidewire delivered a strong second quarter with total revenue growing 24% year-over-year, driven by a 33% increase in subscription and support revenue. The company achieved a significant turnaround in GAAP net income and raised its full-year fiscal 2026 outlook across all key financial metrics, citing strong sales momentum and demand for AI-driven core system modernizations.

• Annual Recurring Revenue (ARR) grew to $1.121 billion, representing a 22% increase year-over-year.
• Subscription and support revenue surged 33% to $237.2 million, now making up 66% of total revenue.

Gap Inc. delivered Q4 fiscal 2025 revenue growth of 2% with comparable sales rising 3%, marking its eighth consecutive quarter of positive comps, although operating income and net income declined year over year due to margin pressure.

• Revenue increased 2% year-over-year to $4.236B.
• Comparable sales grew 3%, marking the eighth consecutive quarter of positive comps.

Bilibili generated $1189900000 in revenue in Q4 2025, up 8% year over year, with net income reaching $73500000 as advertising revenue surged and margins improved. Adjusted profitability nearly doubled year over year while operating leverage improved.

• Revenue increased 8% year over year to $1189900000.
• Advertising revenue surged 27% year over year and became a key growth driver.

The Toro Company delivered a strong first quarter, exceeding expectations with a 4% increase in net sales to $1.04 billion and a 14% rise in adjusted EPS. Growth was primarily driven by the Professional segment and the acquisition of Tornado Infrastructure Equipment, leading the company to raise its full-year fiscal 2026 guidance.

• Net sales increased 4% year-over-year to $1.04 billion, driven by strong execution in both Professional and Residential segments.
• Adjusted diluted EPS rose 14% to $0.74, benefiting from net price realization and productivity improvements.

South Bow generated $503 million in revenue during the fourth quarter of 2025, producing $156 million in net income and $252 million in normalized EBITDA. Distributable cash flow totaled $149 million as the company maintained strong contracted pipeline cash flows despite tighter pricing differentials and operational constraints earlier in the year.

• Fourth-quarter revenue totaled $503 million.
• Net income reached $156 million, or $0.75 per share.

Methanex reported Q4 2025 revenue of $968.8 million with a net loss attributable to shareholders of $88.8 million, primarily driven by a non-cash impairment charge related to its New Zealand operations. Despite the loss, the company delivered Adjusted EBITDA of $186 million supported by higher methanol sales volumes.

• Revenue reached $968.8 million in Q4 2025 driven by higher methanol sales volumes.
• Net loss attributable to shareholders was $88.8 million largely due to an $82 million impairment charge related to New Zealand assets.

Victoria's Secret & Co. delivered an exceptional fourth quarter, exceeding top- and bottom-line guidance with net sales of $2.270 billion and comparable sales growth of 8%. Despite GAAP operating income being impacted by one-time charges including an Adore Me asset impairment, adjusted results showed significant growth, with adjusted EPS of $2.77 beating the high end of the company's guidance.

• Net sales of $2.270 billion increased 8% year-over-year, exceeding the guidance range of $2.170 billion to $2.200 billion.
• Total comparable sales increased 8% in the fourth quarter, driven by enthusiastic customer response to product and marketing.

Liquidia generated $92021000 in revenue in Q4 2025 driven primarily by YUTREPIA product sales following its commercial launch earlier in the year. The company reported net income of $14555000 and positive operating income of $19787000, marking the second consecutive profitable quarter.

• Quarterly revenue reached $92021000 driven mainly by YUTREPIA product sales.
• Net income was $14555000, representing the company’s second consecutive profitable quarter.

Autohome experienced a decline in revenue and net income during the fourth quarter of 2025, primarily driven by reduced advertising spend from internal combustion engine (ICE) automakers. Despite these headwinds, the company is transitioning into a comprehensive automotive service ecosystem and authorized a new $200 million share repurchase program.

• Total net revenues decreased by 18% year-over-year to RMB1.46 billion in Q4 2025.
• Media services revenue saw a significant drop of 23.6% due to shrinking sales volumes in the ICE segment.

Rumble generated $27.07M in Q4 revenue with MAUs reaching 52 million and ARPU at $0.46. The company reported a net loss of $32.69M while investing heavily in advertising, infrastructure, and platform growth.

• Revenue reached $27.07M in Q4 2025.
• Monthly active users increased to 52 million, up 11% sequentially.

Pattern Group delivered record fourth-quarter results with revenue growing 40% year-over-year to $723 million, driven by strong international expansion and non-Amazon marketplace growth. Despite significant one-time stock-based compensation costs related to its 2025 IPO impacting full-year net income, the company maintained high capital efficiency, achieving a record Net Revenue Retention of 124% and authorizing its first $100 million share repurchase program.

• Quarterly revenue reached a record $723 million, representing 40% year-over-year growth.
• International revenue surged 69% in Q4 to $94 million, showing rapid global diversification.

Tango Therapeutics reported no revenue for the fourth quarter of 2025 as collaboration revenue ended following the Gilead agreement truncation. The company recorded a net loss of 38749000 while continuing to invest in research and development programs including vopimetostat and other oncology pipeline candidates.

• Total revenue for Q4 2025 was 0 compared with 5431000 in Q4 2024.
• Net loss widened to 38749000 driven by ongoing R&D investment in oncology programs.

Wiley delivered Q3 FY2026 revenue of 410036000 with significant profitability improvement as operating income rose 21% year over year and adjusted operating margin expanded to 17%. Growth was driven by Research Publishing while Learning declined slightly amid softer market conditions.

• Revenue increased 1% year over year to 410036000 driven by Research segment growth.
• Operating income rose 21% year over year to 62758000 reflecting strong cost discipline.

Distribution Solutions Group reported flat organic sales growth for the fourth quarter of 2025, with revenue reaching $481.6 million. While the company faced margin pressure from end-market softness and shifts in product mix, it successfully extended its credit facility through 2030 and maintained strong liquidity of $469 million to support future strategic growth.

• Revenue increased slightly to $481.6 million, supported by incremental acquisition revenue despite flat organic daily sales.
• Operating income declined to $7.7 million from $20.1 million in the prior year quarter due to higher employee-related costs and investments.

Global Ship Lease delivered solid Q4 2025 results with revenue growth and higher net income supported by charter renewals at higher rates and fleet additions. The company ended the quarter with strong forward visibility, including $2.24B in contracted revenues and high charter coverage for upcoming years.

• Revenue increased year over year driven by higher charter renewal rates and fleet additions.
• Net income rose to $100.22M with EPS of $2.79.

Allient delivered strong fourth-quarter results with revenue rising to $143.4 million, supported by increased demand in the Industrial market and solid performance across other verticals. Operating income and profitability improved significantly as the company benefited from operating leverage and cost efficiencies.

• Revenue increased 17% year over year to $143.4 million driven by industrial automation demand.
• Operating income grew 76% to $11.349 million with operating margin expanding to 7.9%.

Olaplex reported a 4.3% increase in net sales for Q4 2025, driven by strong growth in the Professional and Direct-To-Consumer channels, despite a decline in Specialty Retail. However, the company experienced a wider net loss of $13.1 million compared to the prior year, primarily due to increased SG&A expenses and litigation-related costs.

• Net sales grew 4.3% to $105.1 million, with Professional channel sales surging 18.9%.
• Specialty Retail channel faced a significant headwind, with revenue declining 14.5% year-over-year.

Compass Therapeutics reported no revenue in Q4 2025 and a net loss of $15.72M as the company continued to fund research and development for its antibody-based oncology therapies. R&D spending remained the largest cost driver while the company ended the year with $209M in cash and marketable securities to fund operations into 2028.

• Quarterly net loss was $15.72M with EPS of -$0.09.
• Research and development spending remained the primary expense at $13.67M for the quarter.

Quanex reported a slight increase in net sales of 2.3% for Q1 2026, driven by foreign exchange and tariff pass-throughs, despite a challenging macroeconomic environment. While the company recorded a net loss, it showed improvement over the prior year's loss, though Adjusted EBITDA and margins declined due to lower volumes and temporary operational costs in Mexico.

• Net sales increased by 2.3% to $409.1 million compared to $400.0 million in the prior year period.
• Adjusted EBITDA declined to $27.4 million from $38.5 million, with margins compressing from 9.6% to 6.7%.

Ituran concluded Q4 2025 with a 13% year-over-year revenue increase to $93.5 million and a 10% rise in net income. The company added 42,000 net subscribers in the quarter, reaching a total base of 2.63 million. Strong cash generation led to a total dividend declaration of $30 million for the quarter and an expansion of the share buy-back program.

• Quarterly revenue grew 13% year-over-year to $93.5 million, with subscription fees making up 76% of total sales.
• Net subscriber additions reached 42,000 in Q4, contributing to a record annual total of 221,000 additions.

GH Research, a clinical-stage biopharmaceutical company, reported a net loss of $48.3 million for the full year 2025. The company successfully completed its Phase 2b trial for GH001 in treatment-resistant depression, meeting its primary endpoint with significant MADRS reduction. The company maintains a strong cash position of $280.7 million to fund its upcoming Phase 3 pivotal program.

• Phase 2b trial of GH001 met primary endpoint with a placebo-adjusted MADRS reduction of -15.5 points at Day 8 (p<0.0001).
• GH001 achieved a 57.5% remission rate at Day 8 in the double-blind portion and 73% at six months in open-label extension.

Stratasys reported a decline in Q4 revenue to $140 million, down from $150.4 million in the prior year, while maintaining positive operating cash flow and a strong debt-free balance sheet. Despite a GAAP net loss, the company achieved non-GAAP profitability and highlighted significant growth in manufacturing applications, which now account for 37.5% of total revenue.

• Q4 revenue decreased by 6.9% year-over-year to $140 million amid a challenging macroeconomic environment.
• Manufacturing applications grew to 37.5% of total revenue, up from 25% in 2020, showing a shift toward high-value use cases.

Myers Industries delivered a strong fourth quarter with net income increasing 163.7% year-over-year despite flat net sales. The company successfully achieved its $20 million annualized cost reduction goal and saw significant margin expansion in its Material Handling segment, driven by its Focused Transformation program and improved product mix.

• Net income per diluted share improved 173% to $0.30 compared to $0.11 in the prior year quarter.
• Achieved the commitment to reduce annualized costs by $20 million, primarily within SG&A expenses.

Kura Oncology transitioned to a commercial-stage company in Q4 2025 following the FDA approval of KOMZIFTI. While the company reported its first product revenues, net losses widened significantly due to increased R&D for Phase 3 trials and commercialization expenses. The company maintains a strong cash position of $667.2 million, supplemented by significant milestone payments from its collaboration with Kyowa Kirin.

• Generated $2.1 million in net product revenue from the first five weeks of KOMZIFTI commercial sales.
• Received a $135 million milestone payment from Kyowa Kirin triggered by product delivery following FDA approval.

Nutex Health generated $151.7 million in Q4 2025 revenue, down 41.1% year over year primarily due to arbitration claim adjustments and revenue timing differences. Net income attributable to Nutex Health was $11.8 million, and hospital visits increased 6.1% year over year, reflecting higher patient volumes despite revenue volatility.

• Q4 revenue declined 41.1% year over year due to arbitration claim true-ups and timing differences in arbitration revenue recognition.
• Net income attributable to Nutex Health was $11.8 million in Q4 2025.

Omada Health delivered a strong fourth quarter, achieving its first period of positive GAAP net income and positive Adjusted EBITDA. Revenue grew 58% year-over-year driven by significant member growth and expansion in GLP-1 companion support services. The company also improved its gross margin to 71% and ended the year with a robust cash position following its IPO.

• Revenue increased 58% year-over-year to $75.8 million for the fourth quarter.
• Achieved positive GAAP net income of $5.2 million for Q4 compared to a net loss in the prior year.

Granite Ridge transitioned toward an Operated Partnerships model in 2025, driving production growth of 27% year-over-year in Q4. Despite a GAAP net loss due to impairments and unrealized derivative shifts, the company maintained strong liquidity and provided a positive 2026 outlook focused on aligning capital expenditures with cash flow.

• Total production increased 27% year-over-year to 35,120 Boe/day in Q4 2025.
• Strategic shift to Operated Partnerships added approximately 100 net locations since 2023.

Lexicon Pharmaceuticals significantly reduced its net loss in Q4 2025 compared to the prior year, driven by a substantial decrease in operating expenses following a strategic repositioning. While total revenue declined due to the absence of a large one-time licensing payment seen in Q4 2024, the company strengthened its balance sheet through a subsequent capital raise and milestone payments in early 2026.

• Net loss narrowed to $15.5 million in Q4 2025 from $33.8 million in Q4 2024.
• Operating expenses decreased by 66% year-over-year, reflecting lower R&D costs and reduced marketing spend for INPEFA.

Grid Dynamics achieved record fourth-quarter and full-year revenues for 2025, driven by strong performance in the Technology, Media, and Telecom (TMT) vertical and growing AI-related demand. While revenue grew 5.9% year-over-year in Q4, GAAP net income saw a decrease compared to the prior year due to higher cost of revenues and operating expenses.

• Quarterly revenue reached a record $106.2 million, exceeding the midpoint of previous guidance.
• AI-related services accounted for 25% of Q4 revenue and over $90 million for the full year.

Bioventus delivered Q4 revenue growth with strong organic expansion and improved profitability. Net income turned positive year over year and adjusted EBITDA increased significantly, supported by strong demand in Pain Treatments and disciplined cost management.

• Revenue reached $157.9M, up 2.8% reported and 10.0% organic growth.
• Net income attributable to Bioventus improved to $14.8M from a prior-year net loss.

CorMedix achieved a record Q4 net revenue of $128.6 million, driven by strong DefenCath utilization and the first full quarter of the Melinta portfolio. Despite a significant tax expense related to deferred tax assets, the company maintained profitability with a net income of $14.0 million and a substantial increase in Adjusted EBITDA to $77.2 million.

• Q4 2025 net revenue reached $128.6 million, a significant increase from $31.2 million in Q4 2024.
• DefenCath sales contributed $91.2 million to the quarterly revenue, reflecting strong adoption by outpatient dialysis customers.

Smith & Wesson delivered strong third-quarter results with net sales increasing 17.1% year-over-year to $135.7 million. The company achieved significant market share growth in handguns, with unit shipments up 28% while the broader market declined. Profitability also improved with a higher gross margin of 26.2% and a return to positive free cash flow of $16.8 million.

• Net sales grew by 17.1% to $135.7 million, driven by strong demand and market share gains.
• Handgun unit shipments into the sporting goods channel increased 28%, significantly outperforming the NICS market decline of 2.2%.

Altimmune reported a net loss of $27.4 million for the fourth quarter of 2025, while significantly strengthening its balance sheet to $274 million in cash and short-term investments. The company is transitioning into a late-stage clinical phase with plans to initiate a Phase 3 MASH trial in 2026 following positive FDA alignment and Breakthrough Therapy Designation.

• Granted FDA Breakthrough Therapy Designation for pemvidutide in MASH based on IMPACT trial data.
• Ended Q4 with $274 million in cash, further bolstered by an $83 million capital raise in early 2026.

Gevo finished 2025 with $45 million in Q4 revenue and achieved a positive cash flow from operations of $20 million for the quarter. The company successfully integrated the Gevo North Dakota (formerly Red Trail Energy) acquisition, which contributed significantly to record ethanol production and carbon removal credits. Gevo is now targeting neutral to positive cash flow from operations for the full year 2026.

• Achieved positive cash flow from operations of $20 million in Q4 2025.
• Reported Q4 Non-GAAP Adjusted EBITDA of $7.7 million, marking the third consecutive positive quarter.

Invivyd demonstrated strong commercial momentum in Q4 2025 with PEMGARDA net product revenue growing 31% sequentially. The company significantly strengthened its balance sheet, ending the year with $226.7 million in cash, while successfully reducing annual operating expenses by nearly half compared to the prior year. Focus is now shifting toward the pivotal Phase 3 DECLARATION trial for VYD2311.

• PEMGARDA Q4 net product revenue reached $17.2 million, a 25% increase year-over-year.
• Cash position strengthened to $226.7 million following over $200 million in 2H 2025 financing.

Lineage generated approximately $6600000 in revenue during the fourth quarter of 2025, primarily from collaboration activities following a milestone under its Roche agreement and a new research collaboration. The company reported net income of about $900000 despite increased operating expenses driven by higher research and development spending.

• Fourth quarter revenue increased to approximately $6600000 from $2900000 year over year.
• Net income was approximately $900000 compared with a net loss of $3300000 in the prior year period.

REGENXBIO reported a net loss of $67.1 million for Q4 2025, despite a 43% increase in revenue driven by higher license and royalty income. The company faced regulatory setbacks with clinical holds on RGX-111 and RGX-121, but continues to advance its pivotal trials for RGX-202 and sura-vec with a cash runway extending into early 2027.

• Revenue increased to $30.3 million in Q4 2025, up from $21.2 million in the prior year period.
• The FDA placed clinical holds on RGX-111 and RGX-121 in early 2026, and issued a Complete Response Letter for the RGX-121 BLA.

Ranger Energy Services demonstrated resilience in Q4 2025, reporting revenue of $142.2 million and net income of $3.2 million. The quarter was highlighted by the strategic acquisition of American Well Services (AWS) and the successful deployment of the next-generation ECHO Hybrid Electric Rigs, despite a year-over-year decline in Wireline Services activity.

• Completed the acquisition of American Well Services (AWS), establishing Ranger as the largest well services provider in the Lower 48.
• Successfully launched the ECHO Hybrid Electric Rig platform with a new contract for 15 additional units to be deployed through 2027.

Atea Pharmaceuticals ended Q4 2025 with $301.8 million in cash while advancing its global Phase 3 HCV program. The company completed enrollment for the C-BEYOND trial and expects topline results in 2026. Financials reflected increased R&D spending for clinical trials, offset by lower G&A costs and a one-time tax benefit.

• Completed enrollment for the Phase 3 C-BEYOND HCV trial in North America with over 880 patients.
• Expects topline results for C-BEYOND in mid-2026 and C-FORWARD by year-end 2026.

AerSale's Q4 2025 saw revenue decrease 4% to $90.9 million, yet GAAP net income nearly doubled to $5.4 million. The company benefited from improved MRO profitability and effective cost-cutting initiatives, leading to a 17.1% increase in Adjusted EBITDA. Growth in recurring revenue streams like USM sales and leasing helped offset the volatility of engine sales.

• Revenue of $90.9 million decreased 4% YoY primarily due to fewer engine sales (4 vs 6 in the prior year).
• Adjusted EBITDA increased 17.1% to $15.2 million, driven by MRO profitability and cost-cutting initiatives.

Methode reported a 2.6% decline in net sales to $233.7 million and a net loss of $15.9 million. Results were weighed down by industry-wide Automotive disruptions and operational challenges in Mexico, though partially offset by strong Industrial segment performance and favorable foreign exchange. The company narrowed its full-year sales guidance and lowered its adjusted EBITDA outlook.

• Net sales decreased 2.6% year-over-year to $233.7 million, primarily due to lower EV volumes in the Automotive segment.
• Adjusted EBITDA declined to $7.3 million from $12.3 million in the prior year, with margin contracting to 3.1%.

Gaotu achieved high-quality growth in Q4 2025, with net revenues reaching RMB1,685.3 million. The company successfully narrowed its operating and net losses through improved efficiency and operating leverage, while maintaining a strong net operating cash inflow of RMB964.8 million.

• Net revenues grew 21.4% year-over-year to RMB1,685.3 million, driven by strong market demand and improved product recognition.
• Net loss narrowed significantly to RMB84.2 million from RMB135.8 million in the same period of 2024.

Entravision saw a 26% year-over-year increase in consolidated net revenue for Q4 2025, driven by a 123% surge in the Advertising Technology & Services (ATS) segment. However, the company faced a net loss of $18.2 million, largely impacted by a $26 million impairment charge and a 32% decline in Media segment revenue due to lower political advertising compared to the previous year.

• Advertising Technology & Services (ATS) revenue grew 123% year-over-year to $88.6 million, driven by AI investments and expanded sales capacity.
• Media segment revenue declined 32% to $45.8 million, primarily due to the absence of cyclical political advertising and lower retransmission revenue.

Shattuck Labs reported a narrowed net loss for the fourth quarter of 2025 as it transitioned its focus toward the SL-325 DR3 blocking antibody program. The company significantly reduced R&D expenses following the discontinuation of the SL-172154 program and strengthened its balance sheet through early 2026 capital markets activity, extending its cash runway into 2029.

• Phase 1 clinical trial of lead candidate SL-325 is nearly complete, with data expected in Q2 2026.
• Net loss narrowed to $12.6 million in Q4 2025 compared to $18.7 million in Q4 2024.

GoPro reported Q4 revenue of $202 million, which was flat year-over-year. Despite a 19% decline in camera unit sell-through and a decrease in subscriber count, the company significantly narrowed its GAAP net loss to $9 million from $37 million in the prior year. This improvement was driven by a 33% reduction in quarterly operating expenses. Looking forward, the company is betting on its new GP3 AI-enabled processor launching in Q2 2026.

• Q4 Revenue was flat at $202 million, while GAAP net loss improved by 75% year-over-year to $9 million.
• Operating expenses were reduced by $36.4 million (33%) in Q4 compared to the prior year period.

Caribou Biosciences generated $3941000 in licensing and collaboration revenue in the fourth quarter of 2025 while reporting a net loss of $26488000. Operating expenses declined year over year as research and development and general administrative spending decreased following workforce reductions and pipeline prioritization.

• Licensing and collaboration revenue reached $3941000 in Q4 2025.
• Net loss improved to $26488000 compared with $35490000 in Q4 2024.

BCP Investment Corporation reported total investment income of $17.5 million for Q4 2025, with net investment income of $7.4 million ($0.57 per share), both declining sequentially from the prior quarter. Net asset value totaled $209.2 million, or $16.68 per share, as portfolio activity included net repayments and share repurchases.

• Total investment income for Q4 2025 was $17.5 million, down from $18.9 million in Q3 2025.
• Net investment income was $7.4 million, or $0.57 per share.

OptimizeRx delivered a strong fourth quarter with record net income and adjusted EBITDA, despite flat year-over-year revenue. The company successfully achieved 'Rule of 40' status for the full year 2025 and authorized a new $10 million share repurchase program.

• Achieved record Q4 GAAP net income of $5.0 million and record Adjusted EBITDA of $12.0 million.
• Reached 'Rule of 40' benchmark for the full year 2025 with 19% revenue growth and 22% Adjusted EBITDA margins.

Orion Properties experienced a decline in total revenues and a net loss for the fourth quarter of 2025, though it achieved growth in Core FFO per share compared to the prior year. The company is actively transforming its portfolio by disposing of non-core office assets and shifting toward Dedicated Use Assets, while initiating a strategic review process to evaluate potential mergers or a sale of the company.

• Total revenues decreased to $35.2 million in Q4 2025 from $38.4 million in Q4 2024.
• Core FFO per diluted share rose slightly to $0.19 compared to $0.18 in the same period last year.

CPI Card Group achieved record Q4 revenue of $153.1 million, a 22% increase year-over-year, primarily fueled by the acquisition of Arroweye and strong demand for contactless cards. While net income grew 9% in the quarter, full-year profitability was impacted by acquisition and integration costs. The company introduced a new operating structure for 2026 and provided guidance for high single-digit revenue growth.

• Q4 revenue reached a record $153.1 million, up 22% year-over-year, driven by the Debit and Credit segment.
• Adjusted EBITDA for Q4 increased 34% to $29.4 million, reflecting strong operating leverage.

Clarus reported a decline in Q4 revenue to $65.4 million as it faced softness in North American wholesale and OEM demand, though it achieved positive free cash flow of $11.6 million and double-digit growth in apparel. The company is undergoing a simplification strategy and recognized significant non-cash impairment charges while maintaining a debt-free balance sheet.

• Sales decreased 8% to $65.4 million, impacted by the sale of PIEPS and lower OEM demand in the Adventure segment.
• Apparel sales within the Outdoor segment grew 10% year-over-year in the fourth quarter.

Traeger's Q4 2025 results were characterized by a 13.8% revenue decline driven by high-end grill sales volume and pricing shifts, though the company managed to grow Adjusted EBITDA by 5.5% year-over-year. The company is heavily focused on its 'Project Gravity' restructuring, which is expected to yield up to $70 million in annualized savings. Despite beating the high end of their full-year revenue guidance, the company faces headwinds from tariffs and is forecasting a significant revenue decline for the upcoming fiscal year 2026.

• Q4 revenue fell 13.8% to $145.4 million, impacted by lower grill and accessory sales, though consumables saw 15.8% growth.
• Adjusted EBITDA increased to $19.4 million despite lower revenues, reflecting cost discipline under the Project Gravity initiative.

a.k.a. Brands reported Q4 net sales growth of 3.1% driven by U.S. strength, though net loss widened to $14.5 million. The company expanded its retail footprint with new Princess Polly leases and expects 2026 to be an inflection point for growth and margin expansion.

• Net sales increased 3.1% to $164.0 million in Q4, with U.S. sales specifically rising 5.3%.
• Net loss widened to $14.5 million compared to $9.4 million in the prior year's fourth quarter.

Full House Resorts reported a slight revenue increase of 3.4% in Q4 2025, driven by strong growth at American Place and the ramp-up of Chamonix, despite a net loss of $12.4 million. The company is preparing to break ground on its permanent American Place facility in early 2026 and saw significant operational improvements in its Colorado segment.

• Revenues increased 3.4% to $75.4 million in Q4 2025, led by an 11% revenue jump at American Place Casino.
• Adjusted EBITDA grew to $10.7 million, overcoming the sale of Stockman's Casino and renovation disruptions at Grand Lodge.

PMV Pharma focused on advancing its lead candidate, rezatapopt, through the PYNNACLE clinical trial, achieving Orphan Drug Designation and maintaining a cash runway into 2027. While the company reported a net loss for the fiscal year, it saw a significant reduction in general and administrative expenses due to operational efficiencies.

• Enrollment remains on track for the Phase 2 pivotal portion of the PYNNACLE trial for rezatapopt in ovarian cancer.
• FDA granted Orphan Drug Designation to rezatapopt for TP53 Y220C positive ovarian cancer in March 2026.

NextCure reported a full year 2025 net loss of $55.8 million, driven by increased R&D spending for its ADC programs. The company ended the year with $41.8 million in cash and expects its runway to extend into the first half of 2027, supporting upcoming clinical readouts for SIM0505 and LNCB74.

• SIM0505 (CDH6 ADC) Phase 1 dose escalation data readout is anticipated in Q2 2026.
• LNCB74 (B7-H4 ADC) Phase 1 dose escalation trial update is planned for the second half of 2026.

CarParts.com reported a 10% decline in Q4 revenue to $120.4 million, but showed significant operational improvement with a narrowed net loss and nearly $5 million improvement in Adjusted EBITDA. The company completed a major cost structure reset, including warehouse consolidation and strategic partnerships, aiming for free cash flow through efficiency rather than market recovery.

• Q4 net sales decreased 10% year-over-year to $120.4 million, primarily due to rationalized marketing spend for profitability.
• Gross margin expanded by 70 basis points to 33.2% in Q4, driven by pricing and improved marketing efficiency.

ESS Tech reported a challenging fourth quarter with negative revenue due to contract wind-downs, though it achieved significant year-over-year improvements in operating expenses and adjusted EBITDA. The company is undergoing a leadership reset and strategic shift toward commercial-scale deployment of its iron flow long-duration energy storage systems.

• Completed a leadership and organizational reset, appointing Drew Buckley as permanent CEO.
• Acquired VoltStorage GmbH’s IP and assets to strengthen iron-salt battery technology and commercial capabilities.

Inuvo underwent a strategic platform reset in Q4 2025, intentionally reducing lower-quality platform activity to favor sustainable growth. This led to a significant year-over-year revenue decline in the quarter and a net loss, though the company strengthened its liquidity in early 2026 through settlements and financing.

• Strategic Platform Reset: Deliberate reduction in certain platform activities to improve long-term compliance and stability.
• Revenue Impact: Q4 revenue dropped 45.5% year-over-year to $14.3 million due to the strategic shift.