Revenue and Income Projections - Revenue for the year ended December 31, 2025 is estimated to be between $6,053.0 million and $6,083.0 million, representing an increase of approximately 15.6% to 16.1% compared to $5,237.2 million in the prior year[7] - Net income is expected to be between $270.0 million and $280.0 million, a significant increase from $11.0 million in the previous year[7] EBITDA and Cash Flow Estimates - Adjusted EBITDA is projected to be between $806.0 million and $812.0 million, reflecting an increase of 16.7% to 17.6% from $690.5 million in the prior year[8] - Cash Flow from Operations is estimated to be between $310.0 million and $320.0 million, compared to $76.3 million for the prior year, indicating an increase of $233.7 million to $243.7 million[8] - Free Cash Flow is expected to be between $200.0 million and $210.0 million, a turnaround from a cash use of $45.0 million in the previous year, representing an increase of $245.0 million to $255.0 million[9] - The midpoint reconciliation of net income to Adjusted EBITDA shows a net income of $275.0 million and an Adjusted EBITDA of $809.0 million, resulting in an Adjusted EBITDA Margin of 13.3%[10] - The Company anticipates a significant increase in cash flow metrics, with Free Cash Flow projected at $205.0 million compared to a negative $45.1 million in the prior year[14] Financial Reporting and Guidance - The Company emphasizes that these preliminary estimates are subject to revision and may differ materially from actual results due to ongoing financial closing processes[3] - Management highlights the importance of non-GAAP financial measures such as Adjusted EBITDA and Free Cash Flow for evaluating business operations and financial health[17] - The Company plans to provide a full disclosure of its 4Q 2025 and full-year 2025 results, along with its 2026 outlook, in the following month[2]

Financial Performance - Net income for Q4 2025 was $32.6 million, or $1.10 per diluted share, a significant increase from $6.0 million, or $0.22 per diluted share in Q3 2025, and $14.0 million, or $0.66 per diluted share in Q4 2024[4] - Adjusted earnings for Q4 2025, excluding merger-related expenses, were $25.8 million, or $0.87 per diluted share, reflecting a 14.74% increase from $22.5 million, or $0.82 per diluted share in Q3 2025[7] - For the full year 2025, adjusted earnings were $73.4 million, or $2.95 per diluted share, a 46.06% increase from $50.3 million, or $2.39 per diluted share in 2024[7] - Net income available to common shareholders for Q4 2025 was $32,573,000, a significant increase from $5,969,000 in Q3 2025, representing a growth of 444%[41] - Net income available to common shareholders for the twelve months ended December 31, 2025, was $61,829,000, representing a 22.9% increase from $50,273,000 in the previous year[34] Loan and Deposit Growth - Total loans reached $6.4 billion as of December 31, 2025, with organic loan growth of $26.6 million, or 0.42% (1.65% annualized) compared to Q3 2025[4] - Total deposits were $7.0 billion at December 31, 2025, with organic deposit growth of $122.1 million, or 2.21% (8.75% annualized) from Q3 2025[4] - The increase in loans for the full year was primarily driven by growth in the Ridge View Bank and BankOnBuffalo markets, with a total organic loan growth of $218.8 million, or 4.83% compared to December 31, 2024[7] - Total loans and loans held for sale increased to $6,489,706,000 for the three months ended December 31, 2025, up 9.3% from $5,971,441,000 in the previous quarter[35] - Total deposits as of December 31, 2025, reached $7,027,109,000, up from $6,900,267,000 in Q3 2025, indicating a growth of 1.84%[42] Asset Quality - Total nonperforming assets were approximately $42.2 million, or 0.50% of total assets, as of December 31, 2025, slightly up from $40.4 million, or 0.49% of total assets in Q3 2025[4] - Net loan charge-offs for the three months ended December 31, 2025, were $1.5 million, or 0.09% of average total loans, compared to $2.1 million, or 0.19%, for the same period in 2024[9] - The allowance for credit losses as a percentage of total loans was 1.03% as of December 31, 2025, compared to 1.05% as of September 30, 2025[27] - The provision for credit losses reflected a net reversal of $15.5 million for the three months ended December 31, 2025, compared to an expense of $18.5 million for the previous quarter[27] - The total nonperforming loans decreased to $39,887 thousand from $36,099 thousand in the previous quarter, indicating improved asset quality[37] Revenue and Income - Total revenue for the year ended December 31, 2025, was $282.2 million, an increase of 24.5% compared to $226.6 million for the year ended December 31, 2024[21] - Net interest income for the year ended December 31, 2025, was $242.0 million, reflecting a 29.11% increase from $187.5 million for the year ended December 31, 2024[21] - Total non-interest income for the year ended December 31, 2025, was $40.2 million, a slight increase from $39.1 million for the year ended December 31, 2024[21] - The yield on earning assets was 5.90% for the year ended December 31, 2025, an increase of 2 basis points from December 31, 2024[21] - Interest income for Q4 2025 was $115,550,000, compared to $108,645,000 in Q3 2025 and $83,678,000 in Q4 2024, showing a positive trend in revenue generation[44] Efficiency and Ratios - The efficiency ratio was 69.55% for the three months ended December 31, 2025, compared to 64.56% for the three months ended September 30, 2025[20] - The annualized return on average equity for the three months ended December 31, 2025, was 15.58%, up from 12.05% for the three months ended September 30, 2025[20] - The adjusted efficiency ratio (fully tax equivalent basis) improved to 58.80% for the three months ended December 31, 2025, from 57.67% in September 2025[46] - Return on average assets (GAAP) for the three months ended December 31, 2025, was 1.61%, up from 0.36% in the previous quarter[48] - The company reported a net interest spread of 3.32%, an increase from 3.13% in the previous quarter, highlighting improved efficiency in interest income generation[39] Shareholder Value - Book value per common share increased to $27.63 at December 31, 2025, from $26.68 at September 30, 2025, reflecting a 2.64% increase[5] - Cash dividends per common share remained stable at $0.18 for Q4 2025, consistent with the previous quarters[41] - The dividend payout ratio for Q4 2025 was 16%, a decrease from 82% in Q3 2025, indicating a more conservative approach to dividend distribution[41] - Shareholders' equity grew to $723,241 thousand, compared to $592,550 thousand in 2024, representing a 22.1% increase[40] - Tangible common equity reached $692,137 thousand in December 2025, compared to $657,900 thousand in September 2025 and $508,830 thousand in December 2024[45]

Financial Performance - Net income for Q4 2025 was $32.6 million, or $1.10 per diluted share, up from $6.0 million, or $0.22 per diluted share in Q3 2025, and $14.0 million, or $0.66 per diluted share in Q4 2024[4] - Adjusted earnings for Q4 2025 were $25.8 million, or $0.87 per diluted share, reflecting a 14.74% increase from $22.5 million, or $0.82 per diluted share in Q3 2025[7] - Adjusted earnings for the full year 2025 were $73.4 million, or $2.95 per diluted share, a 46.06% increase from $50.3 million, or $2.39 per diluted share in 2024[7] - Net income available to common shareholders for Q4 2025 was $32,573,000, a significant increase from $5,969,000 in Q3 2025 and $13,988,000 in Q4 2024[43] - Net income available to common shareholders for the twelve months ended December 31, 2025, was $61,829,000, representing a 23.0% increase from $50,273,000 in the previous year[34] - Adjusted net income available to common shareholders (non-GAAP) for the twelve months ended December 31, 2025, was $73,429,000, compared to $50,273,000 for the previous year, reflecting a year-over-year increase of 46%[41] Loan and Deposit Growth - Total loans reached $6.4 billion as of December 31, 2025, with organic loan growth of $26.6 million, or 0.42% (1.65% annualized) compared to Q3 2025[4] - Total deposits were $7.0 billion at December 31, 2025, with organic deposit growth of $122.1 million, or 2.21% (8.75% annualized) from Q3 2025[4] - Total loans and loans held for sale increased to $6,489,706,000, up 8.7% from $5,971,441,000 in the previous quarter[35] - Total deposits reached $7,027,109,000 in Q4 2025, up from $6,900,267,000 in Q3 2025, indicating a growth of 1.84%[42] Asset Quality - Total nonperforming assets were approximately $42.2 million, or 0.50% of total assets, as of December 31, 2025, compared to $40.4 million, or 0.49% of total assets in Q3 2025[4] - Net loan charge-offs were $1.5 million, or 0.09% (annualized) of average total loans, for the three months ended December 31, 2025, compared to $957 thousand, or 0.06%, for the three months ended September 30, 2025[9] - The allowance for credit losses as a percentage of total loans was 1.03% as of December 31, 2025, compared to 1.05% as of September 30, 2025[27] - Nonperforming assets as a percentage of total loans and other real estate owned (OREO) stood at 0.65%, slightly up from 0.62% in the prior quarter[37] Revenue and Income - Total revenue for the year ended December 31, 2025 was $282.2 million, an increase of 24.5% from $226.6 million for the year ended December 31, 2024[21] - Net interest income for the year ended December 31, 2025 was $242.0 million, reflecting a 29.11% increase from $187.5 million for the year ended December 31, 2024[21] - Total non-interest income for the year ended December 31, 2025 was $40.2 million, compared to $39.1 million for the year ended December 31, 2024[21] - Non-interest income for the three months ended December 31, 2025, was $12,084,000, a 14.4% increase from $10,566,000 in the previous quarter[34] Efficiency and Ratios - The efficiency ratio was 69.55% for the three months ended December 31, 2025, compared to 64.56% for the three months ended September 30, 2025[20] - The annualized return on average equity was 15.58% for the three months ended December 31, 2025, compared to 12.05% for the three months ended September 30, 2025[20] - The total risk-based capital ratio improved to 14.91%, compared to 13.97% in the previous quarter, reflecting a stronger capital position[37] - Common shareholders' equity as a percentage of total assets (GAAP) was 9.70%, up from 9.53% in the previous quarter and 8.93% a year ago, showing improved capital adequacy[45] Capital and Shareholder Value - Book value per common share increased to $27.63 at December 31, 2025, up from $26.68 at September 30, 2025[5] - Total shareholders' equity was $872.1 million as of December 31, 2025, representing an increase of $27.9 million, or 3.31% from September 30, 2025[31] - The increase in total shareholders' equity was driven by growth in earnings and an increase in additional paid-in capital related to the ESSA acquisition of $202.6 million[31] - Cash dividends per common share remained stable at $0.18 for both the current and previous quarters[34] Strategic Initiatives - The acquisition of ESSA Bancorp in July 2025 significantly contributed to the increase in earnings and loan growth[8] - The Corporation plans to optimize its branch and market footprint following the ESSA acquisition, which includes a strategic initiative involving $88.1 million in deposits classified as held for sale[7]

Exhibit 99.1 Enova Reports Fourth Quarter and Full Year 2025 Results CHICAGO, January 27, 2026 /PRNewswire/ -- Enova International (NYSE: ENVA), a leading financial services company powered by machine learning and world-class analytics, today announced financial results for the fourth quarter and full year ended December 31, 2025. "Our fourth quarter results capped off another exceptional year for Enova as originations growth and solid credit across our portfolio once again drove strong financial performanc ...

Financial Performance - Qorvo's fiscal 2026 third quarter revenue was $993.0 million, with a gross margin of 46.7% and diluted earnings per share of $1.75 on a GAAP basis[2] - Non-GAAP gross margin for the same quarter was 49.1%, with operating income of $247.6 million and diluted earnings per share of $2.17[2] - Revenue decreased by approximately 6.2% sequentially from Q2 fiscal 2026, but increased by 8.4% year-over-year compared to Q3 fiscal 2025[8] - Qorvo's net income for Q3 fiscal 2026 was $164.1 million, reflecting a 122.8% increase year-over-year[8] - Operating income for the total company increased by 21.8% sequentially and 262.5% year-over-year[12] - Non-GAAP net income for the three months ended December 27, 2025, was $203,238,000, up from $152,753,000 year-over-year[39] - Net income for the three months ended December 27, 2025, was $164.062 million, a significant increase from $41.271 million for the same period in 2024, representing a growth of 297%[47] Revenue Growth - The automotive components, consumer and enterprise Wi-Fi, and power management segments showed notable year-over-year revenue growth[3] - The HPA segment revenue grew by 11.2% year-over-year, while the ACG segment revenue increased by 8.8% year-over-year[12] - Qorvo reported revenue of $992.96 million for the three months ended December 27, 2025, an increase of 8.4% compared to $916.32 million for the same period in 2024[37] Cost Management - The company continues to focus on cost and productivity initiatives to enhance gross and operating margins[4] - Qorvo's total operating expenses for the three months ended December 27, 2025, were $272.05 million, down from $338.39 million in the same period last year, indicating cost management efforts[37] - Non-GAAP operating income margin was 24.9% for the three months ended December 27, 2025, compared to 19.4% for GAAP operating income margin[41] Future Outlook - Qorvo's March 2026 quarter outlook projects revenue of approximately $800 million, with a non-GAAP gross margin between 48% and 49%[5] - The company anticipates continued growth in free cash flow and gross margin, reflecting positive future outlooks despite potential market uncertainties[28] Cash Flow and Liquidity - Free cash flow for the three months ended December 27, 2025, was $236.9 million, calculated as net cash provided by operating activities minus property and equipment expenditures[41] - Net cash provided by operating activities for the nine months ended December 27, 2025, was $532.367 million, compared to $423.019 million for the same period in 2024, reflecting a year-over-year increase of 25.9%[47] - Cash and cash equivalents at the end of the period were $1.318 billion, up from $769.432 million at the end of the same period last year, indicating a 71.4% increase[47] Asset and Liability Management - Total current assets increased to $2,483,098,000 as of December 27, 2025, from $2,167,275,000 as of March 29, 2025[45] - Total liabilities decreased to $2,465,671,000 as of December 27, 2025, from $2,540,819,000 as of March 29, 2025[45] - The company recorded goodwill and intangible asset impairment of $113.066 million in the nine months ended December 27, 2024, with no impairment reported for the same period in 2025[47] Expenses - Research and development expenses for the three months ended December 27, 2025, were $178,066,000, compared to $179,126,000 in the same period last year[43] - The company reported depreciation expenses of $37.228 million for the three months ended December 27, 2025, down from $41.345 million in the same period of 2024, a decrease of 10.2%[47] - Stock-based compensation expense for the nine months ended December 27, 2025, was $109.749 million, slightly up from $108.931 million in the same period of 2024, an increase of 0.8%[47] Inventory and Receivables - The company’s inventories increased by $73.196 million for the three months ended December 27, 2025, compared to a minimal increase of $1.269 million in the same period of 2024, indicating a significant rise in inventory levels[47] - Accounts receivable increased by $54.964 million for the three months ended December 27, 2025, compared to an increase of $151.764 million in the same period of 2024, indicating a decrease in growth rate[47]

Financial Performance - Revenues for Q2 FY 2026 reached $631.3 million, a 7.5% increase from $587.2 million in Q2 FY 2025[4] - Net income for Q2 FY 2026 was $99.5 million, up 3.2% from $96.4 million in Q2 FY 2025[6] - Adjusted EBITDA for Q2 FY 2026 was $188.1 million, reflecting a 17.2% increase compared to $160.4 million in Q2 FY 2025[4] - Income from operations for Q2 FY 2026 was $146.9 million, up from $125.1 million in Q2 FY 2025, representing a 17.0% increase[38] - Adjusted operating income for Q2 FY 2026 reached $159.0 million, compared to $135.6 million in Q2 FY 2025, reflecting a 17.2% growth[38] - Adjusted EBITDA for Q2 FY 2026 was $188.1 million, compared to $160.4 million in Q2 FY 2025, marking a 17.3% rise[41] - The company projects income from operations for FY 2026 to be between $437.0 million and $454.0 million[43] - Adjusted operating income for FY 2026 is expected to range from $485.0 million to $505.0 million[43] Enrollment Metrics - Total enrollments in Q2 FY 2026 were 248.5K, a 7.8% increase from 230.6K in Q2 FY 2025[10] - Career Learning enrollments increased by 17.6% to 111.5K in Q2 FY 2026 compared to 94.8K in Q2 FY 2025[10] - Revenue per enrollment for Q2 FY 2026 was $2,437, up 1.8% from $2,395 in Q2 FY 2025[12] Forecast and Projections - The company forecasts FY 2026 revenue in the range of $2.480 billion to $2.555 billion[19] - Adjusted operating income for FY 2026 is projected to be between $485 million and $505 million[19] - Capital expenditures for FY 2026 are expected to be between $70 million and $80 million[19] - The effective tax rate is anticipated to be between 24% and 25% for FY 2026[19] Cash and Assets - Total current assets as of December 31, 2025, were $1,600,317,000, slightly down from $1,632,734,000 as of June 30, 2025[26] - Total liabilities decreased to $758,709,000 as of December 31, 2025, from $814,340,000 as of June 30, 2025, showing a reduction of 6.8%[27] - Cash and cash equivalents at the end of the period were $497,098,000, down from $782,497,000 at the beginning of the period, a decrease of 36.5%[29] Earnings and Share Metrics - Basic earnings per share for the three months ended December 31, 2025, was $2.31, up from $2.24 in the same period of 2024, a growth of 3.1%[24] - Adjusted earnings per share for Q2 FY 2026 was $2.50, up from $2.37 in Q2 FY 2025, which is a 5.5% increase[41] - Stock-based compensation expense for Q2 FY 2026 was $10.3 million, compared to $7.9 million in Q2 FY 2025, a 30.0% increase[41] - The weighted average diluted shares for Q2 FY 2026 were 46,863,391, compared to 47,462,688 in Q2 FY 2025[41] Cash Flow and Operating Activities - The company reported a net cash used in operating activities of $103,944,000 for the six months ended December 31, 2025, compared to a net cash provided of $81,360,000 in 2024[30] - The company has capitalized software development costs of $24,691,000 for the six months ended December 31, 2025, compared to $18,601,000 in 2024, indicating an increase of 32.8%[30] Gross Margin - Gross margin for the six months ended December 31, 2025, was $501,754,000, up from $455,711,000 in 2024, indicating a year-over-year growth of 10.1%[24]

Exhibit 99.1 National Bank Holdings Corporation Announces Fourth Quarter and Full Year 2025 Financial Results NYSE Ticker: NBHC Denver, Colorado, January 27, 2026 - (Globe Newswire) – National Bank Holdings Corporation (the "Company" or "NBHC") reported: | | | | For the quarter | (1) | | | | | For the year | | | | 2025 Adjusted (1)(2) | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 4Q25 | | 3Q25 | | 4Q24 | | 2025 | | | 2024 | QTD | | | YTD | | Net income ( ...

Financial Performance - F5 reported first quarter fiscal year 2026 revenue of $822 million, reflecting a 7% year-over-year growth from $766 million in the same period last year[3]. - Product revenue grew by 11%, with systems revenue increasing by 37% to $218 million, while software revenue decreased by 8% to $192 million[2][3]. - GAAP gross profit for the first quarter was $671 million, resulting in a gross margin of 81.5%, compared to $626 million and 81.7% in the prior year[4]. - Non-GAAP gross profit was $689 million, with a gross margin of 83.8%, slightly down from $643 million and 83.9% year-over-year[4]. - GAAP net income for the quarter was $180 million, or $3.10 per diluted share, up from $166 million, or $2.82 per diluted share, in the previous year[6]. - Non-GAAP net income was $259 million, or $4.45 per diluted share, compared to $227 million, or $3.84 per diluted share, in the first quarter of fiscal year 2025[6]. - Total net revenues for the three months ended December 31, 2025, were $822,465,000, representing a 7.3% increase from $766,489,000 in the same period of 2024[31]. - Gross profit for the same period was $670,680,000, with a gross margin of 81.5%, slightly down from 81.7% in 2024[35]. - Net income for the three months ended December 31, 2025, was $180,054,000, an increase of 8.2% compared to $166,445,000 in 2024[31]. - Diluted net income per share increased to $3.10, up from $2.82 in the prior year, reflecting a 9.9% growth[31]. - Non-GAAP net income for the three months ended December 31, 2025, was $258,763,000, compared to $226,972,000 in 2024, indicating a growth of 14.0%[35]. Outlook and Guidance - F5 raised its fiscal year 2026 revenue growth outlook to 5% to 6%, up from a previous range of 0% to 4%[9]. - The company expects non-GAAP operating margin to be in the range of 34% to 35%, an increase from the prior guidance of 33.5% to 34.5%[9]. - For the second quarter of fiscal year 2026, F5 is guiding revenue between $770 million and $790 million, with non-GAAP earnings projected at $3.34 to $3.46 per diluted share[10]. Market Drivers - F5's strong performance is attributed to market demand drivers such as the shift to hybrid multicloud architectures and enterprise adoption of AI[2][14]. Balance Sheet and Cash Flow - Cash and cash equivalents at the end of the period were $1,201,870,000, down from $1,346,368,000 at the beginning of the period[33]. - Total current assets were $2,515,419,000, slightly down from $2,518,701,000 in the previous quarter[29]. - Total liabilities increased to $2,753,418,000 from $2,727,493,000 in the previous quarter[29]. - Operating expenses for the three months ended December 31, 2025, were $456,493,000, compared to $420,897,000 in the same period of 2024, marking an increase of 8.4%[31]. - The company reported a deferred revenue of $1,253,071,000, an increase from $1,213,226,000 in the previous quarter[29].

Financial Performance - Net income for Q4 2025 was $3.7 million, or 5 cents per diluted share, down from $5.6 million, or 7 cents per diluted share in Q4 2024, but improved 66.1% sequentially from Q3 2025 [1][3] - Operating revenue for Q4 2025 was $210.1 million, a decrease from $230.4 million in Q4 2024; excluding fuel surcharges, it was $185.5 million compared to $202.9 million in the previous year [2][14] - For the full year 2025, operating revenue was $883.7 million, down from $963.7 million in 2024; excluding fuel surcharges, it was $779.0 million compared to $840.0 million in 2024 [3][14] - Operating income for Q4 2025 was $4.6 million, down from $6.7 million in Q4 2024, but improved 67.3% from Q3 2025 [4][14] - The company reported a full-year operating income of $22.9 million for 2025, down from $33.2 million in 2024 [5][14] - Total operating revenue for Q4 2025 decreased by 8.8% to $210,108,000 compared to $230,432,000 in Q4 2024 [16] - Total operating income for Q4 2025 was $4,582,000, a decline of 31.9% from $6,727,000 in Q4 2024 [16] - Total operating revenue for the year 2025 was $883,652,000, an 8.3% decrease from $963,708,000 in 2024 [18] Revenue Breakdown - Truckload revenue, net of fuel surcharge, fell by 2.0% to $91,201,000 from $93,106,000 year-over-year [16] - Dedicated revenue, net of fuel surcharge, decreased by 13.7% to $56,086,000 compared to $64,997,000 in the previous year [16] - Intermodal revenue dropped to zero, down 100% from $13,209,000 in Q4 2024 [16] - Brokerage revenue increased by 13.8% to $38,168,000 from $33,541,000 year-over-year [16] Operating Efficiency - Operating expenses as a percentage of operating revenue were 97.8% for Q4 2025, compared to 97.1% for Q4 2024 [5][6] - The consolidated operating ratio for Q4 2025 was 97.8%, compared to 97.1% in Q4 2024 [16] - Average revenue per truckload tractor per week was $4,200 in Q4 2025, slightly down from $4,227 in Q4 2024 [20] Strategic Focus - The company emphasized a focus on safe, premium service and data-driven operating efficiencies to mitigate the impact of the freight market recession [7] - Marten Transport's balance sheet remains strong and debt-free, allowing continued investment in technology and fleet modernization [7] - The company expects positive impacts from recent immigration enforcement efforts on growth opportunities in the freight market [9] - Marten Transport operates across five distinct business platforms, specializing in temperature-sensitive and dry truckload transportation [8] Cash Flow - Total cash provided by operating activities for the year ended December 31, 2025, was $93,488,000, down from $134,814,000 in 2024 [20]

Financial Performance - Sales for Q3 Fiscal Year 2026 were $1.42 billion, representing a 6% increase in US dollars and a 4% increase in constant currency compared to the same quarter last year[3]. - GAAP gross margin improved to 43.2%, up 30 basis points year-over-year, while non-GAAP gross margin reached 43.5%, also up 30 basis points[3]. - GAAP operating income was $286 million, a 22% increase compared to Q3 of the prior year, with non-GAAP operating income at $312 million, up 17%[3]. - GAAP earnings per share (EPS) increased to $1.69, up 28% year-over-year, while non-GAAP EPS was $1.93, up 21%[3]. - Cash flow from operations for the quarter was $481 million, with a cash balance of $1.8 billion at the end of the quarter[3]. - Net income for Q3 2025 was $251,039,000, a 25.4% increase from $200,147,000 in Q3 2024[19]. - Total net sales for Q3 2025 reached $1,421,479,000, reflecting a 6% increase compared to $1,340,294,000 in Q3 2024[17]. - Gross profit under GAAP for Q3 2025 was $614,639,000, up from $574,441,000 in Q3 2024, resulting in a gross margin of 43.2%[19]. - Operating income under GAAP for Q3 2025 was $286,014,000, compared to $234,556,000 in Q3 2024, with an operating margin of 20.1%[19]. - Cash flows from operating activities for Q3 2025 totaled $480,532,000, an increase from $370,870,000 in Q3 2024[16]. - Cash and cash equivalents at the end of Q3 2025 were $1,817,820,000, compared to $1,502,832,000 at the end of Q3 2024[16]. - Non-GAAP net income for Q3 2025 was $287,020,000, compared to $241,490,000 in Q3 2024, reflecting a 19% increase[19]. Future Outlook - The financial outlook for Q4 FY26 projects sales between $1,070 million and $1,090 million, with expected sales growth of 6% to 8% in US dollars year-over-year[4]. - Non-GAAP operating income for Q4 FY26 is expected to be between $155 million and $165 million, contributing to an annual outlook of $900 million to $910 million[4]. - The company plans to continue focusing on product innovation and market expansion to drive future growth[21]. Operational Highlights - The company emphasized strong operational execution and disciplined cost management, leading to outstanding gross and operating margins despite a challenging environment[2]. - Logitech continues to focus on innovation with new products like the premium MX Master 4 mouse, contributing to broad-based growth across categories and regions[2]. - Restructuring charges (credits) are associated with employee terminations, facility closures, and early contract cancellations, impacting ongoing operating results[25]. - Losses (gains) on investments vary based on the performance of invested companies, including equity method investments and impairments[26]. Non-GAAP Measures - Non-GAAP income tax adjustments measure the tax effects of non-GAAP adjustments and non-recurring tax events[27]. - Non-GAAP financial measures should not be considered in isolation from GAAP measures, as they have inherent limitations[28]. - Logitech presents percentage sales growth in constant currency to show performance unaffected by currency fluctuations[29]. Balance Sheet - The company maintains a strong balance sheet with total assets of $4.1 billion and total liabilities of $1.76 billion as of December 31, 2025[15]. - Share-based compensation expense for Q3 2025 was $23,435,000, down from $26,193,000 in Q3 2024[20].