Financial Instruments and Capital Structure - As of December 31, 2025, the company had a $505.0 million promissory note convertible into common stock at a price of $5.4270 per share, with an interest rate of Term SOFR plus 8.0% per annum [598]. - The company has approximately $300.6 million in contingent value rights (CVRs) outstanding, which may be converted into cash or shares if worldwide net sales of ANKTIVA exceed $1.0 billion [599]. - There are 65,053,571 shares subject to warrants with exercise prices between $3.1010 and $3.2946, expiring between July 24, 2026, and July 28, 2030 [600]. - The company has outstanding stock options and RSU awards totaling 5,783,187 shares, with a portion vested and exercisable [600]. - The company issued contingent value rights (CVRs) for approximately $304.0 million contingent upon achieving specific regulatory and sales milestones for ANKTIVA [623]. - As of December 31, 2025, the company has a $505.0 million variable-rate loan outstanding, maturing on December 31, 2027, with an interest rate of 11.66% [785][786]. - The company has 65,053,571 warrants outstanding at a fair value of $84.4 million as of December 31, 2025 [791]. - A hypothetical 10% increase in the market price of the company's common stock would increase the fair value of warrant liabilities by $10.3 million [791]. Shareholder and Ownership Structure - Dr. Soon-Shiong and affiliates hold approximately 64.2% of the company's common stock as of December 31, 2025, which could impact stock price if sold [610]. - The company is classified as a controlled company under Nasdaq listing standards, with Dr. Soon-Shiong and affiliates controlling approximately 64.2% of the common stock [621]. Financial Performance and Risks - The company expects to need additional capital for commercialization, clinical trials, and R&D, which may lead to dilution of existing shareholders [613]. - The company has incurred significant costs related to operating as a public company, including legal and compliance expenses, which may affect financial performance [614]. - The market price of the company's common stock has been volatile, influenced by various factors including clinical trial results and regulatory decisions [603]. - Future sales of common stock or rights to purchase common stock could result in additional dilution and negatively affect stock price [610]. - The company is subject to ongoing litigation, which may divert management's attention and resources, potentially harming business operations [605]. Compliance and Regulatory Issues - The company is subject to increased compliance costs due to the requirements of Section 404 of the Sarbanes-Oxley Act, which may necessitate hiring additional finance staff [617]. - The company may face sanctions or investigations by regulatory authorities if it fails to demonstrate compliance with Section 404 in a timely manner [617]. - The FDA approved the company's Biologics License Application (BLA) in April 2024, which was after the milestone date set forth in the CVR agreement, resulting in the termination of the regulatory milestone CVR [624]. Cash and Investment Position - The company has $88.3 million in cash and cash equivalents and $154.5 million in its investment portfolio as of December 31, 2025 [782]. - The company’s investment policy focuses on low-risk, investment-grade debt instruments, but it can no longer invest excess funds in corporate or European bonds due to the RIPA [782]. Interest Rate and Currency Risks - The company is exposed to interest rate risk from its revenue interest purchase agreement, which may vary based on forecasted net sales [787]. - A hypothetical 100 basis point change in interest rates would not have had a material impact on the company's consolidated financial statements due to the short-term maturities of cash equivalents [783]. - A hypothetical 100-basis point increase in the Term SOFR rate would increase future interest payments by $10.1 million [786]. - The company has not incurred any material effects from foreign currency changes on contracts, and a 10% adverse change in exchange rates would not have been material [788]. - The company does not currently enter into currency forward exchange or option contracts to hedge foreign currency exposures, but may do so in the future [790]. - The company has not entered into any material foreign currency hedging contracts but may consider them in the future [788]. Inflation and Market Conditions - Inflation has not had a material effect on the company's business, financial condition, or results of operations [792]. - The fair value of warrant liabilities is sensitive to changes in the market price and volatility of the company's common stock [791]. - The company’s charter documents may have anti-takeover effects that could discourage acquisitions, even if beneficial to stockholders [626].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 HIMS & HERS HEALTH, INC. Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to fi ...

Financial Performance - Revenue from continuing operations for Q1 2025 was $2,746,000, a decrease of 30% from $3,934,000 in Q1 2024[2] - Net loss from continuing operations was $1,412,000 or $0.13 per share, compared to a net loss of $1,600,000 or $0.16 per share in the prior year[2][18] - Oil and natural gas revenues decreased by $1,267,000, with oil prices down 20% and natural gas prices up 64% compared to the prior year[4] Expenses and Costs - General and administrative expenses increased by $453,000, or 39%, primarily due to higher personnel costs and professional service fees[3] - Oil and natural gas operating results increased by $84,000, attributed to a $613,000 decrease in ceiling test impairment and a $425,000 decrease in operating expenses[4] Strategic Initiatives - The company has formally closed its Honolulu office and relocated its headquarters to Houston, Texas, aiming for operational efficiency and cost savings[9] - The board has tasked the CFO with evaluating strategic alternatives beyond the energy sector to enhance value creation opportunities[13] Financial Position - Barnwell's working capital at the end of the quarter was $1,826,000, including $3,622,000 in cash and cash equivalents[2] - In November 2025, the company completed a private placement generating gross proceeds of $2,443,000, strengthening its debt-free balance sheet[11] Foreign Currency Impact - The company recorded a foreign currency gain of $47,000, a positive shift from a $351,000 loss in the prior year[5]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-39191 Ovintiv Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) Suit ...

Marketplace Performance - In 2025, the company had 22,062 active Marketplace Buyers and 14,905 active Marketplace Sellers, generating $10.4 billion in Marketplace GMV, reflecting changes of 5%, 4%, and 9% respectively from the prior year[41]. - The company’s marketplace platform enables real-time transactions of wholesale vehicles, with thousands of dealers transacting daily[35]. - The company’s operational metrics, such as Marketplace Buyers and Sellers, are tracked internally and may be subject to inaccuracies, affecting business perception[98]. - The company’s ability to grow the share of wholesale transactions from existing customers is critical for maintaining revenue, but customer retention is uncertain[104]. - Seasonal fluctuations in vehicle sales may impact quarterly results, with sales typically peaking in the first quarter and declining in the fourth quarter[120]. Financial Performance and Risks - The company recorded a loss of $18.7 million for the year ended December 31, 2025, related to the bankruptcy of Tricolor Holdings LLC and its affiliates[112]. - The company faces risks related to fluctuations in benchmark interest rates, which could adversely affect its business and financial condition[97]. - A decrease in the supply of used vehicles coming to the wholesale market could negatively impact sales volumes and profitability[106]. - The company is exposed to credit risk from dealer borrowers, which could negatively impact its financial condition due to defaults and fraud[112]. - The company may face challenges in identifying and integrating acquisitions, which could divert management's attention and adversely affect financial performance[113]. - The company bears settlement risk for vehicles sold through its marketplace, which could lead to significant net losses if receivables are not collected[115]. - Economic conditions, including consumer confidence and credit availability, significantly impact demand for used vehicles and overall financial performance[134]. Regulatory and Compliance Issues - The company is subject to extensive regulations affecting the wholesale, financing, and transportation of used vehicles, which vary by state and could impact operations[69]. - The company is required to comply with various laws and regulations regarding data security, and failure to do so could lead to costly legal actions and reputational damage[157]. - The company is subject to numerous federal, state, local, and international data privacy and security laws, which are continuously evolving and may lead to significant compliance costs[164]. - The California Consumer Privacy Act (CCPA) provides California residents with expanded rights regarding their personal information, including the right to request deletion and opt-out of data sharing, with potential civil penalties for violations[164]. - The company anticipates that compliance with evolving laws and regulations regarding artificial intelligence (AI) will increase operating expenses significantly[191]. - The regulatory framework governing the company's operations is subject to continuous change, which could lead to increased compliance costs and operational challenges[199]. Technology and Innovation - The company’s technology platform supports efficient vehicle movement through ACV Transportation, providing real-time transportation quotes during transactions[35]. - The company must continuously innovate and introduce new products, including those powered by artificial intelligence, to maintain a competitive edge in the marketplace[147]. - The reliance on third-party technology for critical business functions poses risks that could affect the integrity and efficiency of operations[146]. - The company utilizes AI technologies, which could expose it to reputational and legal risks if the outputs are perceived as flawed or biased[189]. Marketing and Brand Strategy - The company’s marketing initiatives focus on driving brand awareness and customer retention, utilizing various channels including digital and direct marketing[52]. - The company’s competitive advantage lies in its deep expertise in the used vehicle market and a transparent digital approach, enhancing trust and efficiency in transactions[40]. - The company’s ability to maintain and protect its reputation and brand recognition is crucial, as failure to do so could adversely affect its business[180]. Legal and Intellectual Property Risks - The company may face legal proceedings alleging infringement of third-party intellectual property rights, which could materially affect its business and financial condition[177]. - The use of open source software could expose the company to litigation regarding ownership and compliance with licensing terms[184]. - The company may incur significant expenses and distractions from management due to litigation related to intellectual property claims[179]. Stock and Capital Structure - The company expects to issue additional capital stock in the future, which will dilute existing stockholders' ownership interests[216]. - The market price of the company's common stock may be highly volatile due to various factors, including economic and regulatory conditions[217]. - The company does not intend to pay dividends in the foreseeable future, limiting returns for common stockholders to potential price appreciation[229]. - Anti-takeover provisions in the company's charter may make acquisitions more difficult and limit stockholder influence over management[223].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Form 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from (not applicable) Commission file number 1-6880 U.S. BANCORP (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organizati ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number 001-34658 BWX TECHNOLOGIES, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction ...

Exhibit 99.2 Ovintiv Inc. Selected Financial Information (unaudited) For the year ended December 31, 2025 U.S. Dollar / U.S. Protocol Consolidated Statement of Earnings (unaudited) | For the years ended December 31 (US$ millions, except per share amounts) | | 2025 | | 2024 | | 2023 | | --- | --- | --- | --- | --- | --- | --- | | Revenues | | | | | | | | Product and service revenues | $ | 7,176 | $ | 7,358 | $ | 7,812 | | Sales of purchased product | | 1,487 | | 1,585 | | 2,849 | | Gains (losses) on risk man ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): February 23, 2026 HERITAGE INSURANCE HOLDINGS, INC. (Exact name of registrant as specified in its charter) Delaware 001-36462 45-5338504 (State or other jurisdiction of incorporation) (Commission File Number) (I.R.S. Employer Identification No.) Securities registered pursuant to Section 12(b) o ...

BWX Technologies Reports Fourth Quarter and Full Year 2025 Results, Initiates 2026 Guidance Lynchburg, VA - Feb. 23, 2026 - BWX Technologies, Inc. (NYSE: BWXT) ("BWXT", "we", "us" or the "Company") reported fourth quarter and full year 2025 results. A reconciliation of non-GAAP results is detailed in Exhibit 1. "BWXT operates at the intersection of national security and commercial nuclear power markets, where demand for both remains exceptionally strong," continued Geveden. "Our strategy goes beyond capturi ...