Financial Performance - Net sales for 2025 were $1,888.6 million, a 3% increase from $1,839.7 million in 2024, driven by acquisitions (approximately 4%) and favorable foreign currency translation (approximately 1%) [148]. - The company reported a net loss of $2.5 million or $0.14 net loss per diluted share in 2025, compared to a net income of $116.6 million or $6.51 earnings per diluted share in 2024 [149]. - Non-GAAP net income for 2025 was $123.2 million, down from $133.5 million in 2024, with non-GAAP earnings per diluted share at $7.02 compared to $7.44 in the previous year [149]. - Adjusted EBITDA for 2025 was $299.2 million, a decrease from $310.9 million in 2024, attributed to lower operating margins and increased selling, general and administrative expenses [149]. - Net cash flows from operating activities were $136.5 million in 2025, down from $204.6 million in 2024, primarily due to lower operating performance and higher cash outflows [151]. - The company declared cash dividends totaling $1.99 per share in 2025, amounting to $34.6 million, compared to $1.88 per share or $33.6 million in 2024 [134]. - The company reported a decrease in cash and cash equivalents to $179.8 million as of December 31, 2025, down from $188.9 million in 2024, reflecting a net cash flow decrease of $9.1 million [167]. - The Company recorded a pre-tax, non-cash impairment charge of $88.8 million for the EMEA reporting unit goodwill in Q2 2025 due to lower projected earnings and increased cost of capital [163]. - The Company achieved annualized cost savings of at least $20 million from its global cost and optimization program initiated in 2022, with an additional $40 million expected by the end of 2026 [177]. Acquisitions and Market Position - Quaker Houghton acquired Dipsol Chemicals Co., Ltd. in April 2025, enhancing its surface treatment solutions for automotive and industrial applications [21]. - The company’s acquisitions in 2025, including Natech and CSI, strengthen its market position in Europe and South Africa, respectively [22][23]. - Acquisition-related step-up inventory amortization for 2025 is $6.022 million, with no such charges in 2024 and 2023 [188]. Research and Development - Research and development expenses were $60.7 million in 2025, an increase from $57.3 million in 2024 and $50.3 million in 2023 [20]. - Quaker Houghton operates approximately 30 laboratory facilities worldwide focused on applied research and development [19]. Employee and Organizational Culture - The company has approximately 4,700 full-time employees globally as of December 31, 2025 [29]. - Quaker Houghton’s core values emphasize safety, integrity, and diversity, guiding its organizational culture and employee engagement initiatives [31]. - The company relies on attracting and retaining qualified personnel, with competition for talent intensifying in the current labor market [107]. Risks and Challenges - The company is subject to significant risks from demand fluctuations in the steel, automotive, aerospace, and industrial equipment industries, which could adversely affect liquidity and financial position [50]. - Forward-looking statements indicate potential impacts from economic downturns, tariffs, and supply chain constraints on business operations and financial condition [42]. - The company faces challenges in developing and gaining market acceptance for new products, which are essential for maintaining competitive position [53]. - Inflationary pressures and raw material cost increases are expected to impact the company's operations and customer demand [47]. - The company may face challenges in passing through raw material cost increases to customers, potentially impacting sales volumes [78]. - The specialty chemical industry faces supply shortages for certain raw materials, which could adversely affect the company's liquidity and financial position [79]. - Disruptions in the supply chain or loss of manufacturing facilities could lead to significant sales losses and negatively impact liquidity and financial results [80]. - The company is subject to stringent labor laws, and labor disputes could disrupt operations and negatively impact financial results [91]. - Environmental regulations and climate change risks could impose additional operational restrictions and costs, impacting financial performance [88]. - The company may face liabilities related to hazardous materials, which could result in significant financial exposure and operational disruptions [94]. Financial Obligations and Debt - As of December 31, 2025, the Company had outstanding borrowings of $859.7 million under its Credit Facility, with total net debt amounting to $691.4 million after accounting for cash and cash equivalents of $179.8 million [172]. - Total contractual cash obligations as of December 31, 2025, amounted to $1,069.1 million, including long-term debt of $869.8 million and interest obligations of $60.4 million [183]. - The Company has a share repurchase program authorized for up to $150 million, with approximately $59.2 million remaining under the program as of December 31, 2025 [179]. - The Company entered into $300.0 million notional amounts of three-year interest rate swaps to convert variable rate borrowings into a fixed rate obligation of 3.64% plus an applicable margin [174]. Cybersecurity and Compliance - The company is at risk of reputational damage and operational disruptions due to potential cybersecurity breaches and failures in information security [100]. - The company's Global Cyber Security team is responsible for identifying and managing cybersecurity risks, with personnel experienced in data security and privacy [120]. - The company has implemented a cybersecurity risk management program leveraging the NIST framework, which includes categories such as govern, identify, protect, detect, respond, and recover [122]. - All employees are required to complete periodic cybersecurity training, with additional specialized training for certain roles [128]. - The Audit Committee oversees management's approach to managing cybersecurity risks, with updates provided at least quarterly [119]. Tax and Legal Matters - The effective tax rate for 2025 was 350.1%, significantly impacted by the non-cash goodwill impairment charge, compared to 31.8% in 2024 [202]. - The gross liability for uncertain tax positions, including interest and penalties, was $14.2 million as of December 31, 2025 [178]. - The Company established a transition tax liability of $15.5 million for U.S. income taxes on undistributed earnings of non-U.S. subsidiaries, which has been fully paid as of December 31, 2025 [158]. - Pending legal proceedings, including tax and environmental matters, could adversely affect liquidity and reputation in the market [83].

Financial Performance - Q4 2025 net sales reached $468.5 million, a 6% increase from $444.1 million in Q4 2024, driven by acquisitions contributing 6% and favorable foreign currency translation of 2%[4] - Q4 2025 net income was $20.7 million, or $1.18 per diluted share, compared to $14.2 million or $0.81 per diluted share in Q4 2024, reflecting a year-over-year increase of 46% in net income[5] - Full year 2025 net sales totaled $1.89 billion, with a net loss of $2.5 million, including an $88.8 million impairment charge and $35.1 million in restructuring charges[6] - Full year non-GAAP net income was $123.2 million, with non-GAAP earnings per diluted share at $7.02, reflecting a decrease from $7.44 in the previous year[6] - Adjusted EBITDA for Q4 2025 was $71.9 million, an 11% increase from $64.8 million in Q4 2024, primarily due to higher net sales and improved operating margins[5] - Operating income for the full year 2025 was $53.0 million, down from $194.7 million in 2024, indicating a significant decline[32] - Net income attributable to Quaker Chemical Corporation for Q4 2025 was $20.7 million, up from $14.2 million in Q4 2024[32] - Non-GAAP net income for Q4 2025 was $28,857 thousand, compared to $23,570 thousand in Q4 2024, reflecting a strong performance in profitability[22] Cash Flow and Debt - The Company generated $136.5 million in operating cash flow for 2025, down from $204.6 million in 2024, primarily due to lower operating performance and increased cash outflows from restructuring[14] - As of December 31, 2025, total gross debt was $871.2 million, with cash and cash equivalents of $179.8 million, resulting in net debt of $691.4 million, equating to a net debt to trailing twelve months adjusted EBITDA ratio of approximately 2.3x[15] - Cash and cash equivalents decreased to $179.8 million in 2025 from $188.9 million in 2024, reflecting a liquidity contraction[34] - Net cash provided by operating activities decreased to $136,453 million in 2025 from $204,578 million in 2024[37] - Net cash used in investing activities increased to $214,119 million in 2025, compared to $76,420 million in 2024, primarily due to payments related to acquisitions[37] - Net cash provided by financing activities was $61,833 million in 2025, a recovery from a net cash used of $122,664 million in 2024[38] Segment Performance - The Asia/Pacific segment saw a 15% increase in net sales in Q4 2025 compared to Q4 2024, driven by new business wins, while the Americas segment remained flat[10] - Segment operating earnings for the Americas in Q4 2025 were $51,218 thousand, slightly up from $50,930 thousand in Q4 2024, while EMEA and Asia/Pacific segments also showed growth[27] Strategic Initiatives - The Company completed three strategic acquisitions in 2025, contributing positively to revenue growth[6] - Future outlook includes continued focus on strategic planning and potential acquisitions to drive growth and enhance market position[21] Impairment and Charges - The company reported a total impairment charge of $88,840 thousand for the year 2025, impacting overall profitability[27] - Restructuring and related charges rose to $35,130 million in 2025, compared to $6,530 million in 2024[37] - Impairment charges amounted to $88,840 million in 2025, indicating potential asset write-downs[37] Market Outlook - Looking ahead to 2026, the Company anticipates stable end markets in the first half, with potential growth in the latter half, supported by a disciplined focus on operations and cost control[8] Other Financial Metrics - Non-GAAP gross profit for Q4 2025 was $165,524 thousand, up from $156,200 thousand in Q4 2024, resulting in a non-GAAP gross margin of 35.3% compared to 35.2% in the previous year[21] - Non-GAAP operating income for Q4 2025 increased to $45,109 thousand from $40,453 thousand in Q4 2024, with a non-GAAP operating margin of 9.6% versus 9.1%[21] - Adjusted EBITDA for Q4 2025 was $71,861 thousand, an increase from $64,783 thousand in Q4 2024, leading to an adjusted EBITDA margin of 15.3% compared to 14.6%[22] - Total assets increased to $2.8 billion in 2025 from $2.6 billion in 2024, showing a growth of approximately 7.2%[34] - Long-term debt rose to $834.9 million in 2025, up from $669.6 million in 2024, indicating increased leverage[35] - Interest expense for Q4 2025 was $10,783 thousand, compared to $9,077 thousand in Q4 2024, indicating increased borrowing costs[27] - The effect of foreign exchange rate changes on cash resulted in a positive impact of $6,782 million in 2025, contrasting with a negative impact of $11,141 million in 2024[38] Shareholder Information - The basic weighted average common shares outstanding decreased to 17.3 million in Q4 2025 from 17.7 million in Q4 2024[32] - GAAP earnings per diluted share for Q4 2025 were $1.18, up from $0.81 in Q4 2024, while non-GAAP earnings per diluted share increased to $1.65 from $1.33[23] Company Overview - Quaker Houghton operates in over 25 countries, serving thousands of customers in various industries including steel, automotive, and aerospace[30]

HealthStream Announces Fourth Quarter and Full-Year 2025 Results Page 1 February 23, 2026 Exhibit 99.1 Contact: Scott A. Roberts Chief Financial Officer (615) 301-3182 ir@healthstream.com Media: Mollie Condra, Ph.D. Head, Investor Relations & Communications (615) 301-3237 mollie.condra@healthstream.com HealthStream Announces Fourth Quarter & Full-Year 2025 Results NASHVILLE, Tenn. (February 23, 2026)—HealthStream, Inc. (the "Company") (Nasdaq: HSTM), a leading healthcare technology platform company for clin ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________ FORM 10-K __________________________________ (Mark One) x 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 o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________ to______________ 001-32492 (Commission File Number) __________________________ ...

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: 001-16533 ProAssurance Corporation (Exact name of registrant as specified in its charter) Delaware 63-1261433 (I.R. ...

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 No. 001-41051 BLACKBOXSTOCKS INC. (Exact name of registrant as specified in its charter) Nevada 45-3598066 (State or other juris ...

Financial Performance - Achieved record quarterly orders and revenue, both exceeding $1.0 billion[3] - Full year 2025 consolidated revenue totaled $3.8 billion, with 50% generated from recurring revenue[3] - Full year 2025 adjusted EBITDA was $600 million, representing a margin of 15.8 percent[5] - Full year 2025 loss from continuing operations was $50 million, with a margin of (1.3) percent[4] - Revenue for the three months ended December 31, 2025, was $1,008.0 million, a significant increase from $467.6 million in the same period of 2024, representing a growth of 115.5%[23] - Adjusted income from continuing operations for the twelve months ended December 31, 2025, was $333.1 million, up from $198.0 million in 2024, reflecting a growth of 68.2%[24] - Adjusted EBITDA from continuing operations for the twelve months ended December 31, 2025, was $600.4 million, compared to $295.0 million in 2024, marking an increase of 103.5%[28] - The company reported a net income of $53.1 million for the three months ended December 31, 2025, compared to a net loss of $7.0 million in the same period of 2024[23] - Net loss from continuing operations for 2025 was $49.7 million, a significant decline compared to a profit of $84.6 million in 2024[40] Growth and Projections - For 2026, JBT Marel expects consolidated revenue growth of 5-7 percent, including a 1 percent foreign exchange translation benefit[12] - Full year 2026 revenue guidance is set at $3,990 - $4,065 million[11] - Anticipated adjusted EPS for 2026 is between $8.00 - $8.50[11] - Adjusted EBITDA from continuing operations is projected to be between $675 million and $710 million for the full year 2026[52] - Revenue guidance for 2026 is set between $3,990 million and $4,065 million, indicating a potential growth in sales[52] - Diluted earnings per share from continuing operations is expected to be between $4.70 and $5.15 for 2026[48] Orders and Backlog - Year-end backlog for 2025 was approximately $1.4 billion[5] - Total inbound orders for the three months ended December 31, 2025, reached $1,042.7 million, up from $523.1 million in the same period of 2024, indicating a growth of 99.4%[23] - The orders backlog as of December 31, 2025, was $1,372.0 million, significantly higher than $720.5 million in the previous year[23] Cost and Debt Management - Realized year-over-year synergy savings of approximately $43 million in 2025, with expected savings of $60 million in 2026[9] - As of December 31, 2025, the company's net debt to trailing twelve months adjusted EBITDA was 2.9x[6] - Total debt as of Q4 2025 was $1,881.9 million, an increase of 629.8% from $252.1 million in Q4 2024[44] - Net debt stood at $1,714.0 million in Q4 2025, compared to only $23.7 million in Q4 2024, reflecting a substantial increase[44] - The bank total net leverage ratio is calculated at 2.6 as of December 31, 2025[46] Cash Flow and Assets - Free cash flow for 2025 was $249.8 million, up from $199.3 million in 2024, indicating a 25.4% increase[42] - Cash and cash equivalents from continuing operations decreased to $186.5 million at the end of 2025 from $1,228.4 million at the end of 2024[40] - Total assets increased to $8,196.8 million in 2025 from $3,413.8 million in 2024, representing a growth of 140.5%[38] Profitability Metrics - Gross profit margin decreased to 34.5% for the three months ended December 31, 2025, compared to 38.4% in the same period of 2024[23] - Operating income margin improved to 7.2% for the three months ended December 31, 2025, compared to 3.4% in the same period of 2024[23] - M&A related costs for the twelve months ended December 31, 2025, totaled $114.5 million, reflecting the company's ongoing investment in growth strategies[25]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K MANPOWERGROUP INC. (Exact name of registrant as specified in its charter) | WISCONSIN | | 39-1672779 | | --- | --- | --- | | (State or other jurisdiction of | | (I.R.S. Employer | | incorporation or organization) | | Identification No.) | | 100 MANPOWER PLACE, MILWAUKEE, WISCONSIN | | 53212 | | (Address of principal executive offices) | | (Zip Code) | | Registrant's telephone number, including area code: (414) 961-1000 | | | | ...

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 To Commission File Number: 001-36834 EASTERLY GOVERNMENT PROPERTIES, INC. (Exact name of registrant as specified in its charter) Maryland 47-2047728 (State or other jurisdic ...

Premium Composition - The Exchange's direct and affiliated assumed written premiums for 2025 are composed of 71% personal lines and 29% commercial lines[17]. Expenses and Compensation - Agent compensation accounts for approximately 71% of the 2025 policy issuance and renewal expenses[14]. - The Exchange's management fees, which are the primary source of revenue, are based on the direct and affiliated assumed premiums written[21]. Workforce and Employee Metrics - The average employee tenure in 2025 was 10.9 years, with a voluntary turnover rate of 6.3%[32]. - The total workforce consists of 6,667 full-time employees, with about 50% dedicated to claims and life insurance management services for the Exchange[31]. Business Model and Strategy - The Exchange's business model aims to combine localized marketing and claims servicing with centralized support services to enhance operational efficiency[23]. - The company emphasizes a disciplined underwriting philosophy to generate higher risk-adjusted investment returns[24]. - The Exchange's strategic focus includes careful risk selection, appropriate pricing, and superior investment returns to achieve long-term acceptable returns[24]. Revenue and Competition - The Exchange's revenue generation is significantly influenced by the performance and financial condition of the Exchange itself[19]. - The company faces competition primarily in the personal lines automobile and homeowners insurance sectors from large national companies and regional insurers[21].