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LiveWire (LVWR) - 2025 Q4 - Annual Report
2026-02-20 21:32
Financial Performance - LiveWire's net loss for the year ended December 31, 2025, was $75,114 thousand, a decrease from $93,925 thousand in 2024, reflecting a 20.0% improvement [326]. - The Electric Motorcycles segment reported an operating loss of $73,831 thousand for 2025, compared to a loss of $105,500 thousand in 2024, marking a 30.0% reduction [327]. - The STACYC segment's operating loss was $1,653 thousand in 2025, down from $4,856 thousand in 2024, representing a 66.0% improvement [328]. - Revenue for the year ended December 31, 2025 decreased by $2,317 thousand, or 27.6%, to $6,064 thousand from $8,381 thousand for the year ended December 31, 2024 [349]. - Electric motorcycles revenue decreased by $2,953 thousand, or 38.6%, to $4,691 thousand in 2025, while parts, accessories, and apparel revenue increased by $636 thousand, or 86.3%, to $1,373 thousand [348]. Sales Performance - Total Wholesale Motorcycle Unit Sales increased to 589 units in 2025 from 511 units in 2024, a growth of 15.3% [336]. - Company Retail Motorcycle Unit Sales decreased to 64 units in 2025 from 101 units in 2024, a decline of 36.6% [336]. - Total Retail Motorcycle Unit Sales rose to 844 units in 2025, up from 492 units in 2024, an increase of 71.5% [336]. - Electric Balance Bike and Electric Bike Unit Sales totaled 21,633 units in 2025, compared to 18,549 units in 2024, reflecting a growth of 11.2% [336]. - STACYC segment revenue increased by $1,356 thousand, or 7.4%, to $19,608 thousand in 2025 from $18,252 thousand in 2024 [354]. - Electric balance bikes and electric bikes revenue increased by $1,765 thousand, or 12.6%, to $15,808 thousand in 2025 [353]. Cost Management - Cost of goods sold for the year ended December 31, 2025 decreased by $8,960 thousand, or 33.2%, to $18,058 thousand from $27,018 thousand for the year ended December 31, 2024 [350]. - Selling, administrative, and engineering expenses decreased by $25,026 thousand, or 28.8%, to $61,837 thousand in 2025 from $86,863 thousand in 2024 [351]. Cash Flow and Financing - As of December 31, 2025, LiveWire's cash and cash equivalents were $82,777 thousand, an increase from $64,437 thousand as of December 31, 2024 [358]. - The Company entered into a Term Loan Agreement with H-D providing access of up to $75 million, with a maturity date of December 15, 2027 [362]. - The effective interest rate for the Term Loan was 7.64% for the year ended December 31, 2025 [363]. - LiveWire does not expect to generate positive cash flow from operations over the next twelve months [359]. - Net cash used by operating activities decreased by $40,311 thousand to $53,548 thousand in 2025 compared to $93,859 thousand in 2024 [369]. - Net cash used in investing activities decreased by $4,257 thousand to $3,811 thousand in 2025 compared to $8,068 thousand in 2024 [370]. - Net cash provided by financing activities increased by $77,179 thousand to $75,735 thousand in 2025, driven by borrowings under the Term Loan of $75.0 million [371]. - LiveWire's overall increase in cash during 2025 was primarily due to an increase in net cash provided by financing activities [368]. Future Plans and Strategies - LiveWire plans to launch two new 125 cc-equivalent mini-motos, the S4 Honcho products, in spring 2026 to expand market access and affordability [329]. - LiveWire's focus for 2026 includes continued network expansion, cost savings, and product innovation aimed at profitability [333]. - The company expects capital expenditures between $3 million and $8 million in 2026 [366]. - The company continues to explore additional means for raising capital to support ongoing operations and future investments [365]. Inventory and Liabilities - The company has a liability of $6,080 thousand for excess inventory components held by H-D as of December 31, 2025 [367]. - LiveWire is subject to certain payments under the Contract Manufacturing Agreement with H-D if minimum purchase commitments are not met starting in 2027 [367].
Veralto (VLTO) - 2025 Q4 - Annual Report
2026-02-20 21:32
UNITED STATES SECURITIES AND EXCHANGE COMMISSION (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: 001-41770 Washington, D.C. 20549 ____________________________________ FORM 10-K VERALTO CORPORATION (Exact name of registrant as specified in its charter) | Delaware | | ...
iPower (IPW) - 2026 Q2 - Quarterly Report
2026-02-20 21:31
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2025 or (Mark One) ☐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 001-40391 iPower Inc. (Exact name of registrant as specified in its charter) Nevada 8 ...
iPower (IPW) - 2026 Q2 - Quarterly Results
2026-02-20 21:30
Exhibit 99.1 "Importantly, our Board authorized iPower's first-ever $2 million share repurchase program, reflecting confidence in our strengthened balance sheet and the long-term value of our business. "The February restructuring was not simply a divestiture — it marked the beginning of a new chapter for iPower. We streamlined our sourcing, strengthened our financial position, reduced structural costs, and positioned our business to selectively invest in infrastructure-driven growth opportunities." iPower R ...
Artisan Partners(APAM) - 2025 Q4 - Annual Report
2026-02-20 21:30
Assets Under Management (AUM) - The firm's AUM decreased by approximately 43% from June 30, 2008, to March 31, 2009, primarily due to general market conditions [120]. - During the first quarter of 2020, AUM levels decreased by approximately 24% from February 19, 2020, to March 31, 2020, due to sharp global equity market declines related to the COVID-19 pandemic [120]. - In 2022, the firm's assets declined by approximately 27% as a result of persistent inflation, interest rate increases, and geopolitical tensions [120]. - As of December 31, 2025, the company's assets under management (AUM) increased to $179.9 billion, a rise of $18.7 billion, or 12%, from $161.2 billion at the end of 2024 [252]. - The average AUM for the year ended December 31, 2025, was $173.0 billion, reflecting an 8.0% increase from $160.2 billion in 2024 [252]. - Total Assets Under Management (AUM) reached $179,928 million, including $123 million for which Artisan Partners provides investment models to managed account sponsors [268]. - As of December 31, 2025, total assets under management (AUM) reached $179.9 billion, with equity, credit, and alternative assets contributing $158.0 billion, $17.9 billion, and $4.0 billion respectively [274]. Investment Performance - Approximately 88% of the company's AUM is managed in long-only equity investment strategies, exposing it to greater risk during market declines [143]. - Investment returns contributed $33.4 billion to the AUM in 2025, significantly impacting the overall growth despite net outflows [261]. - The Global Opportunities Strategy has an AUM of $16,537 million with a 1-year return of 10.14% and a 5-year average annual return of 5.25% [267]. - The Non-U.S. Growth Strategy reported a 1-year return of 37.93% and a 3-year return of 21.19%, with an AUM of $15,475 million [267]. - The Developing World Strategy achieved a 1-year return of 9.15% and a 3-year return of 22.93%, with an AUM of $4,283 million [268]. - The Global Value Strategy has an AUM of $36,280 million, with a 1-year return of 35.45% and a 5-year average annual return of 14.65% [267]. - The Emerging Markets Local Opportunities Strategy reported a 1-year return of 25.39% and an AUM of $1,861 million [268]. - The Credit Opportunities Strategy achieved a 1-year return of 11.06% and has an AUM of $367 million [267]. - The Global Equity Strategy has an AUM of $432 million with a remarkable 1-year return of 47.84% [267]. - The Sustainable Emerging Markets Strategy reported a 1-year return of 43.91% and an AUM of $2,537 million [267]. - The Antero Peak Strategy achieved a 1-year return of 21.80% with an AUM of $2,220 million [268]. Revenue and Financial Performance - The company generated $1,196.7 million in revenue for the year ended December 31, 2025, representing a 7.6% increase from $1,111.8 million in 2024 [252]. - The GAAP operating margin was 33.4% in 2025, compared to 33.0% in 2024, while the adjusted operating margin improved to 35.3% from 33.8% [252]. - Total revenues for the year ended December 31, 2025, were $1.2 billion, with management fees making up $1.2 billion and performance fees at $29.1 million [283]. - Approximately 80% of investment advisory fees were earned from clients located in the United States for the years ended December 31, 2025, 2024, and 2023 [284]. - The weighted average fee rate for Artisan Funds and Artisan Global Funds was 0.883% for the year ended December 31, 2025, slightly decreasing from 0.901% in 2023 [279]. Client Flows and Relationships - Net client cash flows for 2025 were $(12.7) billion, compared to $(3.7) billion in 2024, indicating increased outflows [258]. - Gross client cash inflows for 2025 were $27.0 billion, while gross client cash outflows were $39.7 billion [261]. - The company experienced net outflows of $15.6 billion in equity strategies in 2025, primarily due to weaker performance and client reallocations [261]. - The intermediated wealth distribution channel accounted for 61.4% of total AUM as of December 31, 2025, up from 58.6% in 2024 [271]. - The institutional channel represented 38.6% of total AUM as of December 31, 2025, a decrease from 41.4% in 2024 [271]. Operational and Regulatory Risks - The firm may offer lower fees to retain current assets and attract additional assets, which could exert downward pressure on fees [126]. - The firm has experienced competition for skilled investment professionals, which could impact its ability to execute business strategies [105]. - Poor investment performance can lead to a loss of AUM, negatively impacting revenues and financial condition [114]. - The investment management industry is facing transformative pressures, including a shift towards passive investment strategies and increased fee competition [133]. - The company is subject to extensive regulatory scrutiny, including from the SEC and other regulatory bodies, which could lead to significant operational costs and legal liabilities [165]. - The company is experiencing increased operational and regulatory risks associated with newer investment strategies offered through private funds [145]. - Employee misconduct or perceived misconduct could expose the company to significant legal liability and reputational harm [157]. - The company relies heavily on internal and third-party technology systems for operations, increasing the risk of operational disruptions and cybersecurity incidents [172]. Dividends and Shareholder Returns - The company declared a dividend of $1.58 per share of Class A common stock for Q1 2026, consisting of a variable quarterly dividend of $1.01 per share and a special annual dividend of $0.57 per share [237]. - The variable quarterly dividend of $1.01 per share represents approximately 80% of the cash generated in the fourth quarter of 2025 [237]. - The company expects to pay a quarterly dividend of approximately 80% of the cash generated from operations, subject to Board approval [237]. - The company’s stockholders would have experienced an 8% annual total return as of December 31, 2025, if all dividends were retained, compared to an 11% annual total return if all dividends were reinvested [236]. Cybersecurity and Risk Management - The company has a comprehensive cybersecurity risk management strategy integrated into its overall risk management framework [207]. - The company has not experienced any known material cybersecurity breach or threat that resulted in or is reasonably likely to result in any material loss or impact on its business strategy, results of operations, or financial condition [212]. - The Audit Committee oversees cybersecurity risk management and receives quarterly reports on significant cybersecurity events or trends impacting the company [219]. - The information security governance team reports to senior management on the results of its annual cybersecurity risk assessment [215]. - The company maintains a robust information security program that includes periodic internal audits and independent third-party reviews [210].
Balchem(BCPC) - 2025 Q4 - Annual Report
2026-02-20 21:26
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) Commission file number: 1-13648 _______________________________________________________________________________________________________________ Balchem Corporation (Exact name of Registrant as specified in its charter) 5 Paragon Drive, Montvale, NJ 07645 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (845) 326-5600 Securities registered pursuant to Section 12( ...
Casella(CWST) - 2025 Q4 - Annual Report
2026-02-20 21:24
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 000-23211 CAS ...
U.S. Global Investors(GROW) - 2026 Q2 - Quarterly Report
2026-02-20 21:22
☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period 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 0-13928 U.S. GLOBAL INVESTORS, INC. Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Exact name of registrant as specified in its charter) (Sta ...
MFA Financial(MFA) - 2025 Q4 - Annual Report
2026-02-20 21:22
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 ☐ 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: 1-13991 MFA FINANCIAL, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) ...
Owens & Minor(OMI) - 2025 Q4 - Annual Report
2026-02-20 21:19
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 For the year ended December 31, 2025 ☐ 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 1-9810 Accendra Health, Inc. (Exact name of registrant as specified in its charter) Virginia 54-1701843 (State or other jurisdiction of (I.R ...