Revenue Performance - Total revenues decreased by $0.5 million, or 3%, to $18.4 million for the three months ended November 30, 2025, compared to $18.9 million for the same period in 2024[126]. - Software-related revenue decreased by $1.8 million, or 17%, primarily due to a $1.4 million decline in revenue from Clinical Operations and a $0.4 million decline from Development[126]. - Service-related revenue increased by $1.3 million, or 16%, driven by organic growth of $0.8 million from Commercialization and $0.5 million from Development[126]. - The company generated revenue primarily from software licenses, consulting services, and customized software platforms for the pharmaceutical industry[151]. Profitability - Gross profit increased by $1.5 million, or 15%, to $10.9 million for the three months ended November 30, 2025, compared to $10.2 million for the same period in 2024[130]. - Net income increased by $470,000, or 228%, to $676,000 for the three months ended November 30, 2025, compared to $206,000 for the same period in 2024[125]. Expenses - Research and development costs increased by $1.3 million, or 51%, to $3.9 million for the three months ended November 30, 2025, reflecting higher investment in product and platform development[133]. - R&D spend as a percentage of revenue increased to 16% for the three months ended November 30, 2025, from 10% for the same period in 2024[134]. - Sales and marketing expenses increased by $0.3 million, or 12%, to $3.2 million for the three months ended November 30, 2025[135]. - General and administrative expenses decreased by $1.4 million, or 25%, to $4.0 million for the three months ended November 30, 2025[136]. - Stock-based compensation costs were $1.5 million for the three months ended November 30, 2025, compared to $1.7 million for the same period in 2024[168]. Cash Flow - Cash provided by operating activities improved by $5.5 million to $4.2 million for the three months ended November 30, 2025, compared to net cash used of $1.3 million for the same period in 2024[144]. - Net cash used in operating activities was $1.3 million for the three months ended November 30, 2024, primarily due to a $3.7 million increase in accounts receivable and a $4.1 million decrease in other liabilities[145]. - Net cash used in investing activities was $4.9 million for the three months ended November 30, 2025, including $5.5 million invested in short-term investments and $0.9 million in capitalized software development costs[146]. - Net cash used in investing activities was $3.1 million for the three months ended November 30, 2024, with $3.5 million invested in short-term investments and $0.6 million in capitalized software development costs[147]. Capital Expenditures - Capitalized computer software development costs were $0.9 million and $0.7 million for the three months ended November 30, 2025, and November 30, 2024, respectively[155]. - Amortization of software development costs amounted to $0.7 million for the three months ended November 30, 2025, compared to $0.8 million for the same period in 2024[156]. - The company incurred $0.2 million for investing in intangible assets and a net working capital settlement related to the Pro-ficiency acquisition[147]. Share Repurchase - As of November 30, 2025, $30 million remains available for additional share repurchases under the authorized repurchase program[149]. Impairment - No impairment losses were recorded during the three months ended November 30, 2025, and November 30, 2024[162].

Financial Position - Terns Pharmaceuticals has approximately $1.0 billion in cash, cash equivalents, and marketable securities as of year-end 2025, expected to provide a runway into 2031[1]. - Terns completed a public offering of 18,687,500 shares, generating gross proceeds of approximately $747.5 million before expenses[7]. Clinical Trials and Drug Development - The CARDINAL Phase 1/2 trial of TERN-701 is enrolling well, with over 85 patients enrolled as of December 8, 2025[7]. - TERN-701 achieved a major molecular response (MMR) rate of 75% (18/24) by 24 weeks in evaluable patients at the recommended phase 2 dose range of >320mg QD, significantly higher than asciminib[7]. - The company plans to select a pivotal dose for TERN-701 in mid-2026 and initiate a pivotal trial in late 2026 or early 2027[3]. - TERN-701 has been granted U.S. FDA Fast Track designation for the treatment of chronic myeloid leukemia (CML) in Q4 2025[1]. - The company aims to generate data that strengthens TERN-701's position as a potential best-in-disease therapy across all lines of CML treatment[2]. - The majority of treatment-emergent adverse events (TEAEs) in the CARDINAL trial were low grade, with no dose-limiting toxicities observed[3]. - Updated and expanded CARDINAL data is expected to be released in the second half of 2026[3]. Strategic Partnerships - The company is seeking a strategic partner to advance the TERN-501 and TERN-801 legacy metabolic programs[7].

Financial Performance - Hurco reported a net loss of $3,041,000, or $0.47 per diluted share, for Q4 FY 2025, compared to a net loss of $1,442,000, or $0.23 per diluted share, in Q4 FY 2024[1]. - Net loss for the fiscal year 2025 was $(15,117,000), slightly improved from $(16,608,000) in fiscal year 2024[19]. - Basic loss per share for Q4 2025 was $(0.47), compared to $(0.23) in Q4 2024[19]. - Operating loss for Q4 2025 was $(3,458,000), compared to a loss of $(491,000) in Q4 2024, reflecting an operating margin of (8)%[19][20]. Sales and Revenue - Sales and service fees for Q4 FY 2025 were $45,467,000, a decrease of $8,235,000, or 15%, compared to Q4 FY 2024, with a favorable currency impact of $882,000[2]. - Sales in the Americas for Q4 FY 2025 decreased by 22% compared to Q4 FY 2024, primarily due to a change in the mix of machine model shipments[4]. - European sales for Q4 FY 2025 decreased by 8%, with a favorable currency impact of 4%[5]. - Asian Pacific sales for Q4 FY 2025 decreased by 25%, primarily due to decreased sales in India and China[6]. - Sales and service fees for Q4 2025 were $45,467,000, a decrease of 15.3% from $53,702,000 in Q4 2024[19]. Profitability - Gross profit for Q4 FY 2025 was $7,749,000, or 17% of sales, down from $12,186,000, or 23% of sales, in Q4 FY 2024[12]. - Gross profit for Q4 2025 was $7,749,000, down 36.5% from $12,186,000 in Q4 2024, resulting in a gross margin of 17%[19][20]. Expenses - Selling, general, and administrative expenses for Q4 FY 2025 were $11,207,000, or 25% of sales, compared to $12,677,000, or 24% of sales, in Q4 FY 2024[13]. Assets and Equity - Cash and cash equivalents totaled $48,713,000 as of October 31, 2025, compared to $33,330,000 as of October 31, 2024[15]. - Total current assets decreased to $225,078,000 in Q4 2025 from $228,577,000 in Q4 2024[22]. - Shareholders' equity decreased to $198,787,000 as of October 31, 2025, down from $207,172,000 in 2024[22]. Capital Expenditures and Tax - Capital expenditures for fiscal year 2025 were $3,021,000, an increase from $2,876,000 in fiscal year 2024[20]. - The effective tax rate for fiscal year 2025 was 6%, compared to (29)% in fiscal year 2024[20]. Management Focus - Hurco's management team is focused on execution, customer engagement, and growth, positioning the company for long-term growth in FY 2026[3]. Operational Efficiency - Days sales outstanding improved to 42 days in Q4 2025 from 49 days in Q4 2024[20].

Financial Performance - Net sales for the three months ended November 30, 2025, were $327,452 thousand, a 19.5% increase from $274,046 thousand in the same period of 2024[27] - Gross profit for the six months ended November 30, 2025, was $166,913 thousand, up 22.3% from $136,554 thousand in the prior year[27] - Operating income for the three months ended November 30, 2025, was $12,264 thousand, compared to $3,521 thousand in the same period of 2024, representing a significant improvement[27] - Net earnings attributable to controlling interest for the six months ended November 30, 2025, were $62,476 thousand, a 18.9% increase from $52,513 thousand in the same period of 2024[27] - Adjusted EBITDA for the six months ended November 30, 2025, was $125,538 million, compared to $104,649 million for the same period in 2024, reflecting an increase of about 19.9%[76] - Total net sales for the three months ended November 30, 2025, were $327,452 million, an increase from $274,046 million in the same period of 2024, representing a growth of approximately 19.5%[75] - Adjusted EBITDA for the three months ended November 30, 2025, was $60.5 million, a 7.6% increase from $56.2 million in the prior year[129] Cash and Liquidity - Cash and cash equivalents at the end of the period were $180,288 thousand, a decrease from $250,075 thousand at the beginning of the period[33] - The company reported a net cash provided by operating activities of $51,518 thousand for the three months ended November 30, 2025, compared to $49,053 thousand in the same period of 2024[33] - Net cash provided by operating activities was $92.6 million for the six months ended November 30, 2025, an increase of $2.4 million compared to the prior year[158] - Net cash used by investing activities was $117.9 million during the six months ended November 30, 2025, primarily due to the acquisition of Elgen and capital expenditures[159] - Net cash used by financing activities was $44.5 million for the six months ended November 30, 2025, including $20.0 million for share repurchases and $18.2 million in dividends[161] - The company has $500,000 million available under its multi-year revolving Credit Facility, with no borrowings outstanding as of November 30, 2025[56] - The company had no outstanding borrowings against its $500.0 million Credit Facility as of November 30, 2025, indicating full borrowing capacity available for future use[164] Assets and Liabilities - Total assets increased to $1,753,333 thousand as of November 30, 2025, compared to $1,695,152 thousand as of May 31, 2025[25] - Total liabilities rose to $790,310 thousand as of November 30, 2025, from $756,915 thousand as of May 31, 2025[25] - As of November 30, 2025, the total equity balance was $963.023 million, with controlling interest at $962.599 million and noncontrolling interest at $424 thousand[58] Dividends and Share Repurchase - The company declared cash dividends of $0.19 per common share for the three months ended November 30, 2025, compared to $0.17 in the same period of 2024[27] - The company declared cash dividends totaling $9.432 million for the six months ended November 30, 2025, consistent with the previous period[58] - The company repurchased 350,000 common shares during the six months ended November 30, 2025, leaving 5,015,000 shares available for repurchase[59] - The total number of common shares purchased from September 1 to November 30, 2025, was 286,578 shares, with an average price of $55.65 per share[177] - The maximum number of common shares that may yet be purchased under the publicly announced repurchase plans is 5,015,000 as of November 30, 2025[177] Acquisitions and Investments - The company acquired Elgen for $91,184 million, which is expected to enhance the Building Products segment's performance[79] - Goodwill from the Elgen acquisition amounted to $34,783 million, reflecting strategic benefits beyond the fair value of identifiable net assets[81] - The total identifiable assets acquired from Elgen were valued at $99,591 million, with intangible assets accounting for $34,800 million[82] - The company signed an agreement to acquire LSI for approximately $205 million, expected to close in January 2026, enhancing its Building Products segment[102] - On December 3, 2025, the company acquired Hydrostat's propane distribution and refurbishment assets for approximately $9.578 million, which will also be reported under Building Products starting Q3 fiscal 2026[103] Market Conditions and Demand - The company reported that demand for its products is closely tied to macroeconomic conditions, with moderate inflation and high mortgage rates impacting consumer sentiment and construction activity[116] - Inventory levels at key retail and distributor customers remained aligned with end-consumer demand, with no material build-up in distribution or retail channels[119] - The company expects demand to remain uneven as market participants await clearer signals on inflation and economic momentum[117] - U.S. residential construction spending was approximately 5% below prior year levels, while non-residential construction remained stable[121] - Existing home sales improved in November 2025, but authorized housing permits and private housing starts declined, indicating a weaker forward pipeline[121] - Builder sentiment, measured by the HMI, was at 38 in November 2025, marking the 19th consecutive month below the 50 threshold, with 41% of builders reporting price cuts[121] Financial Reporting and Compliance - The effective tax rate disclosures will be enhanced starting with the 2026 Form 10-K due to the adoption of ASU 2023-09[42] - The company expects no material impact on its financial condition from the adoption of ASU 2024-03 regarding expense disaggregation disclosures[43] - The estimated annual effective tax rate (ETR) for both the six months ended November 30, 2025, and November 30, 2024, was 24.1%[68] - Income tax expense for the three months ended November 30, 2025, was $8.8 million, a decrease of 3.3% from $9.1 million in the prior year quarter[145] - The company remains in compliance with financial covenants of its debt agreements, which do not include credit rating triggers or material adverse change provisions[164] - There were no changes in internal control over financial reporting that materially affected the company's financial reporting during the period covered[171] - The company is involved in various judicial and administrative proceedings but does not expect any material adverse effects on its business or financial position[173] - Risk factors have not changed significantly from those disclosed in the 2025 Form 10-K, which could materially affect the company's business and financial condition[174] - The company maintains effective disclosure controls and procedures, ensuring timely and accurate reporting of required information[169]

Financial Performance - Net sales for the three months ended November 30, 2025, were $327,452,000, a 19.5% increase from $274,046,000 in the same period of 2024[27] - Gross profit for the six months ended November 30, 2025, was $166,913,000, compared to $136,554,000 for the same period in 2024, reflecting a 22.3% increase[27] - Operating income for the three months ended November 30, 2025, was $12,264,000, significantly up from $3,521,000 in the prior year, marking a 248.5% increase[27] - Net earnings attributable to controlling interest for the six months ended November 30, 2025, were $62,476,000, compared to $52,513,000 in 2024, representing an increase of 18.5%[27] - Total reportable operating segments' net sales for the six months ended November 30, 2025, were $631,159 million, compared to $531,354 million in the same period of 2024, reflecting an increase of approximately 18.8%[76] - Adjusted EBITDA for the six months ended November 30, 2025, was $125,538 million, compared to $104,649 million for the same period in 2024, indicating an increase of about 20%[76] Cash and Liquidity - Cash and cash equivalents at the end of the period were $180,288,000, down from $250,075,000 at the beginning of the period, indicating a decrease of 28%[33] - The company reported a net cash provided by operating activities of $51,518,000 for the three months ended November 30, 2025, compared to $49,053,000 in the prior year, a 5.0% increase[33] - Net cash provided by operating activities was $92.6 million for the six months ended November 30, 2025, an increase of $2.4 million compared to the prior year[158] - Net cash used by investing activities was $117.9 million during the six months ended November 30, 2025, primarily due to the acquisition of Elgen and capital expenditures[159] - The company had no outstanding borrowings against its $500.0 million Credit Facility as of November 30, 2025, indicating full borrowing capacity available for future use[164] Assets and Liabilities - Total assets increased to $1,753,333,000 as of November 30, 2025, compared to $1,695,152,000 as of May 31, 2025, reflecting a growth of 3.4%[25] - Total liabilities rose to $790,310,000 from $756,915,000, an increase of 4.4%[25] - The total liabilities for unallocated corporate and other as of November 30, 2025, were $300,746 million, down from $368,128 million as of May 31, 2025, indicating a reduction of about 18.3%[77] - The fair value of long-term debt was reported at $279,267 million as of November 30, 2025, compared to $263,547 million as of May 31, 2025[101] Shareholder Returns - The company declared cash dividends of $0.19 per common share for the three months ended November 30, 2025, up from $0.17 in the same period of 2024[27] - The company declared cash dividends totaling $9.432 million for the six months ended November 30, 2025, consistent with the previous period[58] - The total number of common shares purchased from September 1 to November 30, 2025, was 286,578, with an average price of $55.65 per share[177] - The maximum number of common shares that may yet be purchased under publicly announced plans or programs is 5,015,000 as of November 30, 2025[177] Acquisitions and Divestitures - The company has an 80% controlling interest in Halo, which was acquired on February 1, 2024, contributing to its consolidated financial results[36] - The company acquired Elgen for $91,184 million on June 18, 2025, which is expected to enhance the Building Products segment's performance[79] - The company signed an agreement to acquire LSI for approximately $205 million, expected to close in January 2026, which will enhance its Building Products segment[102] - The company divested its 49% interest in the SES joint venture, resulting in a loss of $2,950 million recorded in the consolidated statement of earnings for the six months ended November 30, 2025[46] Operational Performance - WAVE's net sales for Q2 2026 were $120,733 million, an increase from $114,627 million in Q2 2025, with operating income rising to $57,466 million from $53,366 million[49] - ClarkDietrich reported net sales of $282,615 million in Q2 2026, down from $290,447 million in Q2 2025, with operating income decreasing to $15,880 million from $37,498 million[49] - Other segment net sales were $73,345 million in Q2 2026, down from $87,916 million in Q2 2025, resulting in an operating loss of $996 million compared to a loss of $17 million in the prior year[49] Market Conditions - The Federal Reserve lowered the federal funds target range to 3.50% – 3.75% in December 2025, impacting consumer sentiment and commercial construction activity[116] - The company experienced a softer macroeconomic environment, with high financing costs constraining new residential construction and impacting demand in Building Products[116] - U.S. residential construction spending was approximately 5% below prior year levels, while non-residential construction remained stable[121] - Builder sentiment, measured by the HMI, was at 38 in November 2025, marking the 19th consecutive month below the 50 threshold, with 41% of builders reporting price cuts[121] Tax and Compliance - The estimated annual effective tax rate (ETR) for both the six months ended November 30, 2025, and November 30, 2024, was 24.1%[68] - Income tax expense for the three months ended November 30, 2025, was $8.8 million, a decrease of 3.3% from $9.1 million in the prior year quarter[145] - The company remains in compliance with financial covenants of its debt agreements, which do not include credit rating triggers or material adverse change provisions[164] Risk Management - The company is managing exposure to interest rate, foreign currency exchange, and commodity price risks through various derivative financial instruments[85] - Risk factors have not changed significantly from those disclosed in the 2025 Form 10-K, and additional risks may also materially affect the company's business[174] - The company is involved in various judicial and administrative proceedings but does not expect any material adverse effects on its business or financial position[173]

Financial Performance - Rhythm Pharmaceuticals reported preliminary unaudited net revenues of approximately $57 million for Q4 2025, an 11% increase sequentially from Q3 2025[7]. - Full-year 2025 net product revenues are expected to be around $194 million, a 50% increase compared to $130 million in 2024[7]. - U.S. sales of IMCIVREE accounted for approximately 68% of Q4 2025 net product revenues and about 69% of full-year 2025 revenues[7]. - The financial results presented are preliminary and subject to change pending the completion of financial closing and audit procedures[13]. Clinical Trials and Research - The company plans to complete enrollment in the Phase 3 trial substudy for congenital hypothalamic obesity in the first half of 2026[8]. - Topline data from the Phase 3 EMANATE trial for genetically caused MC4R pathway diseases is expected to be announced in Q1 2026[9]. - Positive preliminary data for the exploratory Phase 2 trial of setmelanotide in Prader-Willi Syndrome showed BMI and hyperphagia reductions at months 3 and 6[10]. - A pivotal Phase 3 trial for bivamelagon in acquired hypothalamic obesity is planned for 2026, pending regulatory feedback[11]. - Enrollment in the Phase 1 trial for RM-718 is expected to be completed in Q1 2026[12]. Product Launch and Approvals - The company anticipates launching IMCIVREE in the U.S. for acquired hypothalamic obesity pending FDA approval, with a PDUFA goal date of March 20, 2026[14].

Revenue Projections - Preliminary unaudited net revenue for Q4 2025 is expected to be between $88.6 million and $90.6 million, representing a 12% to 15% increase over Q4 2024[4] - Full-year 2025 net revenue is projected to be between $295.5 million and $297.5 million, reflecting an 11% to 12% growth compared to 2024[4] - The company anticipates 2026 net revenue guidance of $327 million to $337 million, indicating an 11% to 13% growth from 2025[4] - The long-term financial outlook for 2028 is updated to reflect total net revenue between $450 million and $500 million, representing a three-year CAGR of 15% to 19%[4] Profitability - Positive non-GAAP operating income for Q4 2025 is reaffirmed at $5 million to $7 million, marking a significant milestone for the company[4] - The company expects to achieve sustainable annual profitability beginning in 2026[9] Product Contributions - Evolysse injectable hyaluronic acid gels contributed approximately 8% of total revenue for full-year 2025[9] - The anticipated commercial launch of Estyme in Europe is expected to enhance revenue contributions in 2026[9] Strategic Focus - The company is focused on increasing market share and expanding its portfolio internationally, with a disciplined spending approach to drive profitability[3] - Cash and cash equivalents as of December 31, 2025, are reported at $53 million, up from $43.5 million on September 30, 2025, indicating strong sales growth and prudent expense management[9]

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): January 9, 2026 Atossa Therapeutics, Inc. (Exact name of Registrant as Specified in Its Charter) (State or Other Jurisdiction of Incorporation) Delaware 001-35610 26-4753208 (Commission File Number) (IRS Employer 1448 NW Market Street, Suite 500 Seattle, Washington 98107 (Address of Principal E ...

Financial Performance - AXT, Inc. updated revenue expectations for Q4 2025, with unaudited financial results to be released on January 8, 2026[5] - The press release regarding financial results is attached as Exhibit 99.1[9] Company Information - The company is incorporated in Delaware and trades on the NASDAQ under the symbol AXTI[4]

Financial Position - As of December 31, 2025, NewAmsterdam Pharma Company reported a cash, cash equivalents, and marketable securities balance of approximately $729 million[8] - The report does not include any financial statements or exhibits beyond the press release[11] Company Overview - The company is registered under the Commission File Number 001-41562 and trades on The Nasdaq Stock Market LLC under the symbol NAMS[5] - NewAmsterdam Pharma is classified as an emerging growth company under the Securities Act of 1933[5] - The company has not indicated any changes in its name or address since the last report[2] Strategic Priorities - The company highlighted its achievements for 2025 and outlined strategic priorities for 2026 in a press release issued on January 9, 2026[8] Compliance and Reporting - The company has not elected to use the extended transition period for complying with new or revised financial accounting standards[6] - The information provided in the report is not deemed "filed" for purposes of the Securities Exchange Act of 1934[10] - The Chief Financial Officer, Ian Somaiya, signed the report on January 9, 2026[15] - The press release is furnished as Exhibit 99.1 to the Current Report on Form 8-K[8]