CF ACQUISITION(CFFE) - 2025 Q4 - Annual Results

Revenue Performance - Reported revenue for full year 2025 totaled $791.0 million, a decline of 9.4% year-over-year[6] - Combined pro forma revenue for full year 2025 was $879.6 million, a decline of 13.6% year-over-year[6] - Fourth quarter revenue totaled $207.0 million, a decline of 15.1% year-over-year on a pro forma basis[6] - The applied workflow automation segment reported revenue of $723.2 million for FY 2025, down 11.4% from FY 2024[7] - The technology segment reported revenue of $67.8 million for FY 2025, an increase of 20.6% from FY 2024[7] - Reported revenue for FY 2025 was $791,042,000, a decrease of 9.3% from $872,690,000 in FY 2024[39] - Pro forma revenue for FY 2025 adjusted to $879,600,000, down 13.6% from $1,017,618,000 in FY 2024[39] Profitability Metrics - GAAP net income for 2025 was $1.1 billion, compared to a net loss of $215.2 million in the prior year[6] - Pro forma normalized EBITDA for 2025 was $90.2 million, a decrease of 13.7% year-over-year[6] - Reported gross profit for FY 2025 was $171,670,000, a decline of 9.1% compared to $188,766,000 in FY 2024[39] - Pro forma gross profit for FY 2025 was $192,335,000, down 12.7% from $220,298,000 in FY 2024[39] - Pro forma net income for FY 2025 was $1,090,175,000, a significant recovery from a loss of $227,294,000 in FY 2024[41] - Net loss for the three months ended December 31, 2025, was $45,286,000, compared to a loss of $134,987,000 for the same period in 2024[41] Cash Flow and Expenses - Cash provided by operating activities for the period was $18,232,000, a recovery from cash used of $159,942,000 in the previous period[37] - Net cash used in investing activities was $6,336,000, compared to $2,690,000 in FY 2024[37] - Net cash provided by financing activities was $13,109,000, a decrease from $145,264,000 in FY 2024[37] - Selling, general and administrative expenses were $49.669 million, slightly down from $53.946 million[34] - The company incurred interest expenses of $24.237 million, down from $75.226 million in the previous period[34] Balance Sheet Highlights - Total assets increased to $902.097 million as of December 31, 2025, up from $390.421 million in the previous year[31] - Current liabilities totaled $322.043 million, significantly reduced from $1.790206 billion in the previous period[31] - The company’s total liabilities decreased to $814.758 million from $1.847209 billion[31] - The impairment of goodwill was recorded at $320.292 million, indicating a significant write-down[34] - Cash and cash equivalents rose to $37.113 million, compared to $11.635 million in the previous period[31] Strategic Focus - The company is focused on stabilizing its portfolio and laying the groundwork for a return to growth through strategic investments in sales leadership and AI initiatives[5] - Closed total contract value (TCV) of $297.8 million, including $163.8 million of new TCV[6]