Monarch Casino & Resort(MCRI) - 2025 Q4 - Annual Results

Financial Performance - In Q4 2025, Monarch Casino & Resort reported net revenue of $140.0 million, a 4.1% increase from $134.5 million in Q4 2024[1] - Net income for Q4 2025 reached $22.9 million, reflecting a significant increase of 444.9% compared to $4.2 million in Q4 2024[1] - Adjusted EBITDA for Q4 2025 was $51.8 million, up 9.6% from $47.3 million in the same quarter last year[1] - For the full year 2025, net revenue totaled $545.1 million, a 4.4% increase from $522.2 million in 2024[1] - Full year net income was $101.4 million, a 39.3% increase from $72.8 million in 2024[1] Earnings and Margins - The adjusted EBITDA margin improved to 37.0% in Q4 2025, an increase of approximately 185 basis points from 35.1% in Q4 2024[3] - Basic earnings per share rose to $1.27 in Q4 2025 compared to $0.23 in Q4 2024, reflecting a growth of 452%[23] Expenses and Assets - Total operating expenses decreased to $110,898,000 in Q4 2025 from $130,610,000 in Q4 2024, a reduction of approximately 15%[23] - Total current assets increased to $129,253,000 in 2025 from $90,422,000 in 2024, marking a growth of 43%[25] - Cash and cash equivalents significantly improved to $96,468,000 in 2025, up from $58,760,000 in 2024, an increase of 64%[25] - Total assets grew to $712,849,000 in 2025, compared to $691,583,000 in 2024, reflecting a growth of 3.2%[26] - Stockholders' equity increased to $537,670,000 in 2025 from $517,748,000 in 2024, a rise of 3.9%[26] Shareholder Returns and Capital Management - The company declared a cash dividend of $0.30 per share, payable on March 16, 2026[1] - Capital expenditures in Q4 2025 were $3.4 million, primarily for ongoing maintenance at the properties[10] - The company repurchased 445,715 shares of common stock for $41.0 million in Q4 2025, totaling 797,279 shares for $72.2 million for the full year[6][12] Strategic Initiatives - Monarch continues to evaluate potential M&A opportunities to drive long-term value for shareholders[13] Tax and Interest Income - The company reported a provision for income taxes of $(6,815,000) in Q4 2025, compared to a benefit of $63,000 in Q4 2024[27] - Interest income net improved to $654,000 in Q4 2025 from $245,000 in Q4 2024, showing a growth of 167%[27]