Financial Performance - For the year ended December 31, 2025, WPP plc reported revenue of £13,550 million and operating profit of £382 million[24]. - Revenue for 2025 decreased to £13,550 million, down 8% from £14,741 million in 2024[64]. - Operating profit fell to £382 million, a decline of 71% compared to £1,325 million in 2024[64]. - The loss for the year was £172 million, representing a 127.3% decrease from a profit of £629 million in 2024[64]. - Net cash inflow from operating activities dropped to £724 million, down 49% from £1,408 million in 2024[64]. - Headline PBT for 2025 was £1,086 million, down 26% from £1,467 million in 2024[92]. - Headline operating profit for 2025 was £1,360 million, a decrease of 22% from £1,747 million in 2024[88]. - Like-for-like revenue growth for 2025 was reported at -3.6%, compared to a growth of 2.3% in 2024[81]. - The company reported a significant goodwill impairment of £641 million for 2025, compared to £237 million in 2024[91]. - Adjusted free cash flow significantly decreased to £202 million in 2025, compared to £738 million in 2024, a drop of 72.6%[102]. Employee and Operational Metrics - The Group had 98,655 employees as of December 31, 2025[24]. - The Company employs approximately 98,655 people and has a presence in over 100 countries[38]. - The Company had approximately 73,000 employees based in 49 campuses as of December 31, 2025, compared to 68,000 in 47 campuses in 2024[58]. - WPP is reliant on third parties for significant portions of its IT and operations, which poses risks to operational performance[31]. - The Company is highly dependent on the talent and skills of its employees, with a focus on maintaining effective risk management and compliance frameworks[134]. - The Company has established reputations in the industry that attract talented personnel, but faces competition for key employees[134]. Client and Market Dynamics - The ten largest clients accounted for 21.4% of net sales in the year ended December 31, 2025[34]. - Economic risks, including inflation and currency volatility, could lead clients to reduce or cancel spending, impacting revenues[29]. - Geopolitical tensions may cause clients to scale back or delay marketing budgets, affecting overall business confidence[29]. - The failure to execute the strategic plan published in February 2026 could adversely affect market share and long-term value[30]. Financial Liabilities and Debt Management - The Company has issued $220 million of 5.625% bonds due November 2043, with WPP plc as the parent guarantor[68]. - Adjusted net debt improved to £(2,167) million in 2025 from £(1,742) million in 2024, indicating a reduction in net debt levels[105]. - Average adjusted net debt decreased to £(3,404) million in 2025 from £(3,506) million in 2024, reflecting a positive trend in debt management[105]. - The company has issued US$300 million 5.125% guaranteed senior notes due September 2042, with a repurchase of US$28.4 million in 2018 and US$178.7 million in 2019[158]. - The company has EUR 750 million 2.250% guaranteed senior notes due September 2026, listed on the Global Exchange Market of the Irish Stock Exchange[159]. Regulatory and Compliance Risks - The company faces risks related to data privacy and compliance with evolving regulations, which could lead to legal and financial repercussions[34]. - Cybersecurity threats have increased, with potential impacts on operations and client trust if data is compromised[34]. - Changes in local or international tax rules could expose WPP to significant additional tax liabilities, affecting liquidity[34]. - The Company is subject to potential increased costs due to future changes in ESG laws and regulations, including carbon offset pricing[37]. Shareholder Information - Major shareholders include BlackRock Inc. with 9.84% ownership, FIL Limited at 8.92%, and Mondrian Investment Partners at 5.63%[139]. - As of December 31, 2025, the total number of outstanding ordinary shares was 1,078,802,358, with 50.5% held by US residents[140]. - The geographic distribution of share ownership shows 28.6% in the United Kingdom, 50.5% in the United States, and 20.9% in the rest of the world[140]. Internal Controls and Audit - The Company has evaluated its disclosure controls and procedures as of December 31, 2025, concluding they were effective[218]. - Management assessed the effectiveness of internal control over financial reporting as of December 31, 2025, and found it to be effective[219]. - The Company's internal control over financial reporting was audited by PwC, confirming its effectiveness[220]. - There were no changes in the Company's internal control over financial reporting during 2025 that materially affected its effectiveness[221]. - The Audit Committee includes financial experts, with Sandrine Dufour identified as the financial expert under the Sarbanes-Oxley Act 2002[222].

Product Approval and Market Launch - Humacyte's Symvess® (ATEV) received FDA approval in December 2024 for treating extremity vascular trauma, with a market launch expected in 2025[9]. - The company has established commercial-scale manufacturing with an annual capacity of up to 40,000 ATEVs[9]. - The current price point for Symvess is $17,000, making it the second most cost-effective option after saphenous vein grafts, resulting in a net cost reduction of $104,573[49]. - The anticipated milestones for 2026 include the U.S. commercial launch of CABG (CTEV) and the publication of Phase 3 results for the V007 dialysis study[137]. Clinical Performance and Safety - In clinical studies, Symvess demonstrated a primary patency rate of 87.1% and a secondary patency rate of 91.5%, compared to 78.9% for synthetic grafts[36]. - The conduit infection rate for Symvess was 0.9%, significantly lower than the 8.4% rate for synthetic grafts[36]. - The amputation rate for patients using Symvess was 4.5%, compared to 24.3% for synthetic grafts[36]. - ATEV demonstrated a functional patency of 81.3% at 6 months compared to 66.4% for autogenous fistula (AVF), indicating superior performance[60]. - In the V007 trial, ATEV showed a secondary patency rate of 68.3% at 12 months, outperforming AVF at 62.2%[60]. - ATEV has shown no increased safety events per year of usability in the expected target population, with treatment emergent adverse events at 96.3% for ATEV compared to 98.2% for AVF[64]. - The ATEV was successfully used in a 70-year-old patient with severe vascular disease, showing a patent ATEV without significant stenosis at the distal anastomosis after one year[88]. Strategic Partnerships and Market Focus - The company has a strategic partnership with Fresenius Medical Care Holdings, Inc. for marketing and distribution of its 6 millimeter ATEV in specified markets[1]. - Humacyte's technology aims to address major drawbacks of current treatment options for vascular injuries, providing a definitive and permanent repair solution[35]. - The company is focused on expanding its product offerings through its bioengineering platform, which enables the development of a broad range of regenerative medicine products[11]. - The company is focused on addressing unmet needs in multiple markets, including vascular trauma and peripheral arterial disease, through its bioengineering platform[139]. Financial Impact and Market Potential - Symvess is associated with a potential savings of $40,705 per patient compared to synthetic grafts, with infection charges per synthetic graft at $8,848 versus $589,921 for vascular graft infections[47]. - The total addressable market (TAM) for Symvess in the U.S. vascular trauma market is estimated at 26,000 patients, with 18,667 being emergent vascular trauma cases[42]. Future Developments and Innovations - Humacyte's pipeline includes multiple potential commercial launches, with ongoing Phase 3 trials for various applications[17]. - The company plans to launch the Coronary Tissue Engineered Vessel (CTEV) for Coronary Artery Bypass Grafting (CABG) in the U.S. and expand into international markets[134]. - The BioVascular Pancreas (BVP) demonstrated a 100% cure rate for diabetes in a rat model, with all animals showing normalized blood glucose levels[123]. - Over 80% islet retention was observed at 2 months in non-human primate studies, indicating superior islet survival compared to existing transplantation methods[125]. - The BVP is designed to deliver pancreatic islets while promoting neovascularization and long-term islet survival, addressing significant drawbacks of current islet transplantation methods[108]. - The company operates 8 LUNA200 systems, with an annual capacity expected to exceed 40,000 ATEVs, supporting commercial manufacturing scale[135]. - The CTEV showed positive patency results in animal models, with no significant stenosis or adverse events reported during the study duration[104]. Demographic Insights - The analysis of hemodialysis patients indicates that women have a 90% increased risk of complications with AVG ± CVC access compared to men, highlighting a significant unmet need in this demographic[57]. - The V012 trial aims to compare ATEV to AVF in female patients, with a target enrollment of 150 subjects and an interim analysis planned after 80 patients[70]. Military Applications - The Department of Defense (DoD) has designated Symvess as a "Priority Product," with funding for its development and evaluation in battlefield injuries, achieving a 100% limb salvage rate in Ukrainian warfighters[51].

Financial Performance and Market Risks - Signet's share price may experience significant volatility due to fluctuations in financial results and market conditions, potentially impacting investment value [187]. - The company provides public guidance on expected sales and operating results, which may not be met, leading to potential declines in stock price if actual results fall short [188]. - A material deterioration in financial performance could breach borrowing covenants, necessitating renegotiation with lenders or alternative financing sources [191]. - The company is subject to various legal proceedings and regulatory investigations, which could negatively impact earnings, cash flow, and management focus [200]. - Changes in tax laws and regulations, including the Bermuda Corporate Income Tax Act of 2023, could adversely affect the company's effective tax rate and financial results [204]. Liquidity and Operational Risks - Signet's primary sources of liquidity include cash on hand, operational cash flow, and an asset-based credit facility, which are crucial for sustaining operations, especially during seasonal fluctuations [190]. - Collective bargaining agreements could lead to labor disruptions, increasing costs and negatively impacting operations [199]. - The company's ability to attract and retain qualified talent is critical for sales and earnings, with potential risks from labor market competition and leadership transitions [194]. International Operations and Currency Risks - Signet's global operations are impacted by international laws, foreign taxes, and potential shipping disruptions, which could affect sourcing and manufacturing [206]. - Signet's total assets were approximately 90% held in entities with a functional currency of US dollars, and about 91% of its sales were generated in US dollars for Fiscal 2026 [347]. - In Fiscal 2026, approximately 28% of the International reportable segment's goods purchased were transacted in US dollars, down from 31% in Fiscal 2025 [349]. - The company uses derivative financial instruments to hedge against foreign currency exchange rate risks, including forward foreign currency exchange contracts and commodity forward purchase contracts [346]. - The sensitivity analysis indicated that a 10% depreciation of the US dollar against the British pound could result in a fair value loss of $1.5 million for foreign exchange contracts [354]. - Signet's results are subject to fluctuations in the cost of diamonds, gold, and other precious metals, which are key components of its products [351]. - The company aims to minimize net foreign exchange exposure through managing cash levels and utilizing foreign currency exchange contracts and swaps [350]. - As of January 31, 2026, the fair value of derivative financial instruments is based on market value equivalents, considering current foreign currency and commodity forward rates [356]. Risk Management - The Finance Committee of the Board is responsible for monitoring market and liquidity risk within the company's treasury policies [344]. - Signet's exposure to market risk is managed by senior management, with certain derivative instruments requiring review and approval by the CFO [345].

Financial Performance - Taysha Gene Therapies reported a net loss of $109.0 million for the year ended December 31, 2025, compared to a net loss of $89.3 million for 2024, representing an increase in loss of approximately 22%[10] - Taysha's revenue for the year ended December 31, 2025, was $9.8 million, an increase from $8.3 million in 2024[20] - The accumulated deficit widened to $(711.30) million in 2025 from $(602.31) million in 2024, indicating a decrease in financial health[22] Expenses - Research and development expenses increased to $86.4 million in 2025 from $66.0 million in 2024, primarily due to higher compensation expenses and clinical trial activities[8] - General and administrative expenses rose to $33.9 million in 2025 from $29.0 million in 2024, driven by increased compensation and legal fees[9] Cash and Assets - Taysha had $319.8 million in cash and cash equivalents as of December 31, 2025, with expectations to fund operations into 2028[11] - Total assets increased to $343.32 million in 2025 from $160.36 million in 2024, representing a growth of 114%[22] - Cash and cash equivalents rose significantly to $319.77 million in 2025, up from $139.04 million in 2024, marking an increase of 130%[22] - Total stockholders' equity surged to $246.94 million in 2025, compared to $71.53 million in 2024, reflecting a growth of 245%[22] - Additional paid-in capital grew to $958.43 million in 2025, up from $677.86 million in 2024, an increase of 41.4%[22] Liabilities - Current liabilities slightly increased to $26.55 million in 2025 from $26.23 million in 2024, a rise of 1.3%[22] - Accounts payable rose to $6.28 million in 2025 from $3.59 million in 2024, an increase of 74.8%[22] - Term loan, net increased to $50.11 million in 2025 from $43.94 million in 2024, a rise of 14.9%[22] Clinical Trials and Product Development - The company dosed multiple patients in the REVEAL pivotal trial and is on track to complete dosing in both the REVEAL and ASPIRE trials by Q2 2026[4] - Taysha received FDA clearance to initiate the ASPIRE trial, which will include safety data for patients aged 2 to <4 years in the planned BLA submission[6] - The anticipated demand for TSHA-102 is supported by market research indicating strong interest from clinicians and caregivers for treating 6,000 to 9,000 patients with Rett syndrome in the U.S.[13] - The company expects to complete dosing in the REVEAL pivotal trial and the ASPIRE trial in the second quarter of 2026, with longer-term safety and efficacy data expected to be released around the same time[13] Asset Changes - Property, plant and equipment decreased to $6.74 million in 2025 from $7.49 million in 2024, a decline of 10.1%[22] - Operating lease right-of-use assets increased to $9.44 million in 2025 from $8.38 million in 2024, a growth of 12.6%[22] - The company has maintained a favorable tolerability profile for TSHA-102, with no treatment-related serious adverse events reported as of March 2026[6]

Financial Performance - Fourth quarter 2025 net income of $7.8 million improved by $13.4 million compared to a net loss of $5.6 million in the prior year[4] - Net sales for the fourth quarter were $215.9 million, a decrease of $25.4 million or 10.5% from $241.3 million in the prior year[6] - Net sales for the fiscal year ended February 1, 2026, were $565.2 million, a decrease of 9.8% compared to $626.6 million for the fiscal year ended February 2, 2025[29] - Operating income for the fiscal year ended February 1, 2026, was a loss of $10.2 million, an improvement from a loss of $36.9 million in the previous year[29] - Net income attributable to controlling interest for the fiscal year ended February 1, 2026, was a loss of $16.4 million, compared to a loss of $43.7 million in the previous year[29] Cash Flow and Liquidity - Full year positive free cash flow of $16.6 million, an improvement of $41.8 million from the prior year[4] - Free cash flow for the fiscal year ended February 1, 2026, was $16.6 million, a significant recovery from a negative free cash flow of $25.2 million in the previous year[34] - The company reported cash and cash equivalents of $16.3 million as of February 1, 2026, up from $3.3 million at the end of the previous fiscal year[31] Margins and Profitability - Gross margin increased to 53.0%, up 890 basis points from 44.1% in the prior year[7] - Gross profit for the fiscal year ended February 1, 2026, was $301.6 million, representing a gross margin of 53.3%, slightly down from 49.2% in the previous year[29] - Adjusted EBITDA for the fourth quarter increased by $8.9 million to $17.5 million compared to the prior year[4] - Forecasted adjusted EBITDA for the upcoming fiscal year is expected to range from $26 million to $30 million[39] Expenses and Liabilities - Selling, general and administrative expenses decreased by $5.3 million or 4.8% to $105.4 million[8] - The company incurred restructuring expenses of $1.2 million for the fiscal year ended February 1, 2026, compared to $7.7 million in the previous year[36] - Total liabilities decreased to $236.5 million as of February 1, 2026, from $272.8 million as of February 2, 2025[29] Sales Channels - Direct-to-consumer net sales decreased by 16.5% to $144.3 million, while retail store net sales increased by 4.7% to $71.6 million[6] Future Outlook - Fiscal 2026 outlook projects net sales in the range of $540 million to $560 million and adjusted EBITDA between $26 million and $30 million[11] - Capital expenditures for fiscal 2026 are expected to be approximately $12 million[11] - Forecasted net loss for the upcoming fiscal year is projected to be between $11.8 million and $7.5 million[39]

Financial Performance - Total sales for Q4 2025 were $112.1 million, a decrease of 6.0% from $119.2 million in Q4 2024, with comparable sales down 7.3%[4] - Net loss for Q4 2025 was $(29.6) million, or $(0.54) per diluted share, compared to a net loss of $(1.3) million, or $(0.02) per diluted share in Q4 2024[4] - Total sales for fiscal 2025 were $435.0 million, down 6.9% from $467.0 million in fiscal 2024, with comparable sales decreasing by 8.4%[4] - Adjusted EBITDA for Q4 2025 was $(1.8) million, compared to $4.2 million in Q4 2024[4] - For fiscal 2025, the net loss was $(35.9) million, or $(0.66) per diluted share, a significant decline from net income of $3.1 million, or $0.05 per diluted share in fiscal 2024[37] - Adjusted EBITDA for Q4 fiscal 2025 was $(1.8) million, down from $4.2 million in Q4 fiscal 2024; for fiscal 2025, adjusted EBITDA was $1.6 million compared to $19.9 million in fiscal 2024[40] - Gross profit for the fiscal year ended January 31, 2026, was $188.99 million, down from $217.20 million in the previous year[71] - Adjusted net income (non-GAAP basis) for the fiscal year ended January 31, 2026, was a loss of $11.5 million, or $(0.21) per diluted share, compared to an adjusted net income of $4.3 million, or $0.07 per diluted share for the previous fiscal year[76] Cash Flow and Investments - As of January 31, 2026, total cash and investments were $28.8 million, down from $48.4 million at February 1, 2025, with no outstanding debt[4] - Cash flow from operations for fiscal 2025 was $2.1 million, a decrease from $29.6 million in fiscal 2024[41] - Free cash flow before capital expenditures for store development was $(9.2) million in fiscal 2025, compared to $15.1 million in fiscal 2024[42] - Cash and cash equivalents increased to $23.81 million as of January 31, 2026, from $11.90 million as of February 1, 2025[73] - Cash flow from operating activities (GAAP basis) for the fiscal year ended January 31, 2026, was $2.1 million, a decrease from $29.6 million in the prior year[78] - Free cash flow (non-GAAP basis) for the fiscal year ended January 31, 2026, was a loss of $18.0 million, compared to a positive free cash flow of $1.9 million for the previous fiscal year[78] Operational Metrics - Gross margin for Q4 2025 was 40.8%, down from 44.4% in Q4 2024, primarily due to a decrease in merchandise margin and increased occupancy costs[21] - SG&A expenses for Q4 2025 were 42.4% of sales, compared to 41.7% in Q4 2024, with a dollar decrease of $2.2 million[26] - The impact of tariffs on merchandise margins was estimated to be approximately 110 basis points for Q4 2025 and 50 basis points for fiscal 2025[23] - Operating losses are forecasted in the near term, with an expected impact of tariffs on gross margin estimated at approximately 150 basis points if current rates remain[60] - The company plans to continue proactive measures, including vendor negotiations and cost mitigation programs, to address tariffs and trade restrictions[60] Future Outlook - The merger with FullBeauty Brands is expected to close in Q2 of fiscal 2026, projected to generate $1.2 billion in revenue and $25 million in annual run-rate cost synergies[7] - The company aims to increase private-brand penetration from approximately 57% at the start of fiscal 2025 to over 60% in fiscal 2026 and more than 65% in fiscal 2027[9] - The company expects capital expenditures for fiscal 2026 to range from $8.0 million to $12.0 million, primarily for technology-related projects[48] - The company opened eight new DXL stores during fiscal 2025 and plans to limit new store openings in fiscal 2026 due to economic headwinds[47][48] Inventory and Assets - Inventory decreased by 2.6% to $73.5 million as of January 31, 2026, compared to $75.5 million at February 1, 2025[45] - Total assets decreased from $380.96 million as of February 1, 2025, to $366.95 million as of January 31, 2026[73] Tax and Valuation - The effective tax rate for the fourth quarter was 3.1%, and for the fiscal year 2025, it was 10.7%[76] - The company established a full valuation allowance against net deferred tax assets amounting to $20.4 million for the fiscal year ended January 31, 2026[76] - Impairment of assets recorded was $1.3 million for both the three months and fiscal year ended January 31, 2026[76] Transaction Costs - The company incurred transaction-related costs of $3.6 million for the three months ended January 31, 2026[76]

Financial Performance - Fiscal 2026 net sales reached $671.3 million, a 2.7% increase from $653.4 million in fiscal 2025[4] - Operating income for fiscal 2026 was $29.8 million, up 49.0% from $20.0 million in fiscal 2025[11] - Adjusted operating income for fiscal 2026 was $34.8 million, an increase of 28.7% from $27.1 million in fiscal 2025[11] - Fourth quarter net sales were $191.6 million, reflecting a 5.6% increase from $181.5 million in the fourth quarter of fiscal 2025[7] - Fourth quarter diluted EPS was $0.55, a 52.8% increase from $0.36 in the prior-year period[7] - Net income attributable to Movado Group, Inc. for the twelve months ended January 31, 2026, was $26,552,000, compared to $18,364,000 in 2025, representing a year-over-year increase of 44.5%[21] - Diluted earnings per share for the three months ended January 31, 2026, increased to $0.55 from $0.36 in the same period last year, reflecting a growth of 52.8%[21] - Net income for the twelve months ended January 31, 2026, was $26,868 thousand, an increase of 40.1% compared to $19,209 thousand in the previous year[31] Sales Growth - The Movado brand saw a 25% sales growth in wholesale business during the fourth quarter[3] - U.S. net sales increased by 11.2% in the fourth quarter compared to the same period last year[8] - Total net sales on a constant dollar basis for the twelve months ended January 31, 2026, increased by 1.0% to $659,666,000 compared to $653,378,000 in 2025[23] Cash and Assets - The company ended fiscal 2026 with $230.5 million in cash and no debt[4] - Cash and cash equivalents at the end of the period rose to $230,541 thousand, compared to $208,501 thousand at the end of the previous year, marking an increase of 10.4%[31] - Total assets increased to $742,621 thousand in January 2026, up from $729,231 thousand in January 2025, representing a growth of 1.8%[29] - Net cash provided by operating activities was $57,921 thousand, a significant recovery from a cash outflow of $1,504 thousand in the prior year[31] - Shareholders' equity increased to $508,842 thousand, up from $481,329 thousand, reflecting a growth of 5.7%[29] Expenses and Dividends - The company reported a total operating expense of $333,774,000 for the twelve months ended January 31, 2026, slightly up from $333,125,000 in 2025[21] - Dividends paid were $31,052 thousand, consistent with the previous year's payment of $31,069 thousand[31] - Capital expenditures decreased to $4,512 thousand from $7,966 thousand, indicating a reduction in investment spending[31] Future Outlook - The company has opted not to provide a fiscal 2027 outlook due to current economic and geopolitical uncertainties[10] - The company anticipates continued growth in e-commerce and plans to focus on new product development to adapt to changing consumer preferences[20] - Movado Group, Inc. is actively managing its expenses and exploring market expansion opportunities to enhance profitability[20] Other Financial Metrics - Gross profit for the twelve months ended January 31, 2026, was $363,603,000, up from $353,140,000 in 2025, reflecting a year-over-year increase of 2.7%[21] - Operating income for the three months ended January 31, 2026, rose to $13,806,000, a significant increase from $9,222,000 in the prior year, marking a growth of 49.5%[21] - Non-operating income for the three months ended January 31, 2026, was $724,000, down from $1,554,000 in the prior year[21] - The effect of exchange rate changes contributed $8,616 thousand to cash, contrasting with a negative impact of $2,952 thousand in the previous year[31] - Total current liabilities remained relatively stable at $113,048 thousand, slightly up from $112,960 thousand in the previous year[29]

Financial Performance - Strive, Inc. reported a GAAP net loss of $393.6 million for the period from September 12, 2025, to December 31, 2025, with 95.4% of this loss attributed to the fair market value decrease in bitcoin holdings[3]. - Non-GAAP adjusted net loss attributable to common stockholders was $208.2 million, or $4.73 per diluted common share, for the same period[3]. - The company reported a net loss of $393,598,000 for the period from September 12, 2025, to December 31, 2025, compared to a net loss of $26,990,000 for the previous period[12]. - Non-GAAP adjusted net loss attributable to common stockholders was $208,221,000, significantly higher than the $11,124,000 loss in the prior period[12]. - The net loss per diluted common share was $9.04, compared to $11.74 in the previous period[12]. - The weighted average number of diluted common shares outstanding increased to 43,997,862 from 2,299,243 in the prior period[12]. - The company incurred a goodwill and intangible asset impairment of $140,785,000 during the reporting period[12]. - Share-based compensation expense amounted to $21,710,000, while transaction costs were $12,400,000[12]. Bitcoin Holdings and Performance - The company accumulated a total of 13,628 bitcoin as of March 17, 2026, with 5,048 bitcoin acquired from Semler Scientific, Inc.[3]. - Strive achieved a Bitcoin Yield of 22.2% in Q4 2025 and 13.8% quarter-to-date in Q1 2026[3]. - The company is focused on maximizing value for stockholders and accumulating bitcoin as part of its treasury strategy[26]. - The company has adopted new accounting standards for measuring bitcoin at fair value, which may lead to unrealized gains or losses[19]. - Future performance metrics such as Bitcoin Yield, Bitcoin Gain, and Bitcoin $ Gain are used to assess the company's strategy but have limitations[16]. Assets and Liabilities - Strive's cash and cash equivalents totaled $83.7 million as of March 17, 2026, with a fair value of $50.4 million in STRC Stock[3]. - Total current assets increased to $71.8 million as of December 31, 2025, compared to $23.8 million in the previous year[4]. - Total liabilities were reported at $14.3 million as of December 31, 2025, significantly up from $4.9 million in the previous year[4]. Corporate Actions - The company completed a public offering of 2,000,000 shares of SATA Stock at $80.00 per share, resulting in net proceeds of approximately $148.4 million[3]. - Strive executed an all-stock acquisition of Semler Scientific, acquiring approximately 5,048 bitcoin and establishing a subsidiary focused on preventative healthcare[3]. - The company made an initial investment of $50 million in Variable Rate Series A Perpetual Stretch Preferred Stock of Strategy Inc. in March 2026[3]. Risks and Challenges - The company anticipates potential risks related to market conditions and the integration of its merger with Semler Scientific, Inc.[27].

Exhibit 99.1 Intuitive Machines Reports Fourth Quarter and Full-Year 2025 Financial Results Houston, TX, March 19, 2026 -- Intuitive Machines, Inc. (Nasdaq: LUNR, "Intuitive Machines," or the "Company"), a leading space technology, infrastructure, and services company, today announced its financial results for the fourth quarter and full-year ended December 31, 2025. Intuitive Machines CEO Steve Altemus said, "2025 was a transformational year for Intuitive Machines. We completed our second lunar mission, ex ...

Financial Performance - Intuitive Machines achieved $44.8 million in revenue for Q4 2025, primarily driven by Commercial Lunar Payload Services, Omnibus Multidiscipline Engineering Services III, and Near Space Network Services[6] - The company reported a positive gross margin of 19% in Q4 2025, indicating margin improvement throughout the year[6] - Total revenues for the year ended December 31, 2025, were $210,059, a decrease of 7.9% compared to $228,000 in 2024[22] - Service revenue for the three months ended December 31, 2025, was $43,308, down 20.8% from $54,662 in the same period of 2024[22] - Operating loss for the year ended December 31, 2025, was $87,231, compared to a loss of $57,396 in 2024, reflecting an increase in operating expenses[22] - Net loss attributable to the Company for the year ended December 31, 2025, was $83,294, a decrease from $283,413 in 2024[22] - Adjusted EBITDA for the year ended December 31, 2025, was $(64,243), compared to $(41,695) in 2024, indicating a worsening operational performance[26] - Free Cash Flow for the year ended December 31, 2025, was $(55,952) thousand, a decrease from $(67,698) thousand in 2024[29] Cash Flow and Assets - Free cash flow usage was $56 million, reflecting an $11.7 million year-over-year improvement[6] - Cash and cash equivalents at the end of the period increased to $582,606 from $207,607 in 2024, representing a growth of 180.5%[24] - Total assets as of December 31, 2025, were $757,154, significantly higher than $355,404 in 2024, indicating strong asset growth[20] - Total liabilities increased to $553,452 in 2025 from $351,483 in 2024, reflecting a rise of 57.5%[20] - Net cash used in operating activities for the year ended December 31, 2025, was $14,318, an improvement from $57,587 in 2024[24] - The company reported a significant increase in cash flows from financing activities, totaling $446,588 in 2025, compared to $272,787 in 2024[24] - Net cash used in operating activities for 2025 was $(14,318) thousand, compared to $(57,587) thousand in 2024[29] Backlog and Future Revenue Potential - The combined backlog at the end of February 2026 was approximately $943 million, indicating strong future revenue potential[6] - The company's backlog as of December 31, 2025, was $213,070 thousand, down $115.3 million from $328,345 thousand in 2024[31] - The decrease in backlog was primarily due to performance on existing contracts totaling $210.1 million, including OMES III contract at $73.1 million and CLPS mission contracts at $72.3 million[31] - New awards contributed $105.0 million to backlog, with significant contracts including OMES III at $33.4 million and NSN contract at $18.0 million[31] - Full-year 2026 revenue guidance is projected to be between $900 million and $1 billion, with expectations for positive Adjusted EBITDA[6] Strategic Investments and Acquisitions - The company completed an $800 million acquisition of Lanteris Space Systems in Q1 2026, enhancing its capabilities as a next-generation space contractor[5] - Intuitive Machines also acquired KinetX Aerospace to expand its deep space navigation and constellation management capabilities[5] - A contract was awarded for the Missile Defense Agency SHIELD IDIQ with a ceiling of $151 billion, allowing for rapid delivery of innovative capabilities[5] - The company secured a strategic investment of $175 million in Q1 2026 to advance satellite communications and in-space data processing[5] - Intuitive Machines plans to invest in expanding its Near Space Network Services and establish a solar system internet independent of Earth[3] Capital Expenditures and Adjustments - Purchases of property and equipment for 2025 amounted to $(41,634) thousand, compared to $(10,111) thousand in 2024[29] - The company experienced close-out adjustments of $8.4 million on the IM-2 mission and $1.8 million on the IM-3 mission, contributing to the backlog decrease[31] Free Cash Flow Considerations - Free Cash Flow is not a GAAP measure and may not be comparable to similar metrics from other companies[30] - The timing of capital investments and fluctuations in growth may affect Free Cash Flow in the near to medium term[30] - Free Cash Flow should not be considered in isolation from GAAP financial information[30]