Financial Performance - Strive, Inc. reported a GAAP net loss of $393.6 million for the period from September 12, 2025, to December 31, 2025, with 95.4% of this loss attributed to the fair market value decrease in bitcoin holdings[3]. - Non-GAAP adjusted net loss attributable to common stockholders was $208.2 million, or $4.73 per diluted common share, for the same period[3]. - The company reported a net loss of $393,598,000 for the period from September 12, 2025, to December 31, 2025, compared to a net loss of $26,990,000 for the previous period[12]. - Non-GAAP adjusted net loss attributable to common stockholders was $208,221,000, significantly higher than the $11,124,000 loss in the prior period[12]. - The net loss per diluted common share was $9.04, compared to $11.74 in the previous period[12]. - The weighted average number of diluted common shares outstanding increased to 43,997,862 from 2,299,243 in the prior period[12]. - The company incurred a goodwill and intangible asset impairment of $140,785,000 during the reporting period[12]. - Share-based compensation expense amounted to $21,710,000, while transaction costs were $12,400,000[12]. Bitcoin Holdings and Performance - The company accumulated a total of 13,628 bitcoin as of March 17, 2026, with 5,048 bitcoin acquired from Semler Scientific, Inc.[3]. - Strive achieved a Bitcoin Yield of 22.2% in Q4 2025 and 13.8% quarter-to-date in Q1 2026[3]. - The company is focused on maximizing value for stockholders and accumulating bitcoin as part of its treasury strategy[26]. - The company has adopted new accounting standards for measuring bitcoin at fair value, which may lead to unrealized gains or losses[19]. - Future performance metrics such as Bitcoin Yield, Bitcoin Gain, and Bitcoin $ Gain are used to assess the company's strategy but have limitations[16]. Assets and Liabilities - Strive's cash and cash equivalents totaled $83.7 million as of March 17, 2026, with a fair value of $50.4 million in STRC Stock[3]. - Total current assets increased to $71.8 million as of December 31, 2025, compared to $23.8 million in the previous year[4]. - Total liabilities were reported at $14.3 million as of December 31, 2025, significantly up from $4.9 million in the previous year[4]. Corporate Actions - The company completed a public offering of 2,000,000 shares of SATA Stock at $80.00 per share, resulting in net proceeds of approximately $148.4 million[3]. - Strive executed an all-stock acquisition of Semler Scientific, acquiring approximately 5,048 bitcoin and establishing a subsidiary focused on preventative healthcare[3]. - The company made an initial investment of $50 million in Variable Rate Series A Perpetual Stretch Preferred Stock of Strategy Inc. in March 2026[3]. Risks and Challenges - The company anticipates potential risks related to market conditions and the integration of its merger with Semler Scientific, Inc.[27].

Exhibit 99.1 Intuitive Machines Reports Fourth Quarter and Full-Year 2025 Financial Results Houston, TX, March 19, 2026 -- Intuitive Machines, Inc. (Nasdaq: LUNR, "Intuitive Machines," or the "Company"), a leading space technology, infrastructure, and services company, today announced its financial results for the fourth quarter and full-year ended December 31, 2025. Intuitive Machines CEO Steve Altemus said, "2025 was a transformational year for Intuitive Machines. We completed our second lunar mission, ex ...

Financial Performance - Intuitive Machines achieved $44.8 million in revenue for Q4 2025, primarily driven by Commercial Lunar Payload Services, Omnibus Multidiscipline Engineering Services III, and Near Space Network Services[6] - The company reported a positive gross margin of 19% in Q4 2025, indicating margin improvement throughout the year[6] - Total revenues for the year ended December 31, 2025, were $210,059, a decrease of 7.9% compared to $228,000 in 2024[22] - Service revenue for the three months ended December 31, 2025, was $43,308, down 20.8% from $54,662 in the same period of 2024[22] - Operating loss for the year ended December 31, 2025, was $87,231, compared to a loss of $57,396 in 2024, reflecting an increase in operating expenses[22] - Net loss attributable to the Company for the year ended December 31, 2025, was $83,294, a decrease from $283,413 in 2024[22] - Adjusted EBITDA for the year ended December 31, 2025, was $(64,243), compared to $(41,695) in 2024, indicating a worsening operational performance[26] - Free Cash Flow for the year ended December 31, 2025, was $(55,952) thousand, a decrease from $(67,698) thousand in 2024[29] Cash Flow and Assets - Free cash flow usage was $56 million, reflecting an $11.7 million year-over-year improvement[6] - Cash and cash equivalents at the end of the period increased to $582,606 from $207,607 in 2024, representing a growth of 180.5%[24] - Total assets as of December 31, 2025, were $757,154, significantly higher than $355,404 in 2024, indicating strong asset growth[20] - Total liabilities increased to $553,452 in 2025 from $351,483 in 2024, reflecting a rise of 57.5%[20] - Net cash used in operating activities for the year ended December 31, 2025, was $14,318, an improvement from $57,587 in 2024[24] - The company reported a significant increase in cash flows from financing activities, totaling $446,588 in 2025, compared to $272,787 in 2024[24] - Net cash used in operating activities for 2025 was $(14,318) thousand, compared to $(57,587) thousand in 2024[29] Backlog and Future Revenue Potential - The combined backlog at the end of February 2026 was approximately $943 million, indicating strong future revenue potential[6] - The company's backlog as of December 31, 2025, was $213,070 thousand, down $115.3 million from $328,345 thousand in 2024[31] - The decrease in backlog was primarily due to performance on existing contracts totaling $210.1 million, including OMES III contract at $73.1 million and CLPS mission contracts at $72.3 million[31] - New awards contributed $105.0 million to backlog, with significant contracts including OMES III at $33.4 million and NSN contract at $18.0 million[31] - Full-year 2026 revenue guidance is projected to be between $900 million and $1 billion, with expectations for positive Adjusted EBITDA[6] Strategic Investments and Acquisitions - The company completed an $800 million acquisition of Lanteris Space Systems in Q1 2026, enhancing its capabilities as a next-generation space contractor[5] - Intuitive Machines also acquired KinetX Aerospace to expand its deep space navigation and constellation management capabilities[5] - A contract was awarded for the Missile Defense Agency SHIELD IDIQ with a ceiling of $151 billion, allowing for rapid delivery of innovative capabilities[5] - The company secured a strategic investment of $175 million in Q1 2026 to advance satellite communications and in-space data processing[5] - Intuitive Machines plans to invest in expanding its Near Space Network Services and establish a solar system internet independent of Earth[3] Capital Expenditures and Adjustments - Purchases of property and equipment for 2025 amounted to $(41,634) thousand, compared to $(10,111) thousand in 2024[29] - The company experienced close-out adjustments of $8.4 million on the IM-2 mission and $1.8 million on the IM-3 mission, contributing to the backlog decrease[31] Free Cash Flow Considerations - Free Cash Flow is not a GAAP measure and may not be comparable to similar metrics from other companies[30] - The timing of capital investments and fluctuations in growth may affect Free Cash Flow in the near to medium term[30] - Free Cash Flow should not be considered in isolation from GAAP financial information[30]

Financial Transactions and Acquisitions - The company sold its assets related to avasopasem and rucosopasem for an upfront payment of $3.5 million and potential future payments of up to $105.0 million upon achieving regulatory and commercial milestones[18]. - The acquisition of Nova Pharmaceuticals, Inc. was completed on December 30, 2024, with an investment of $2.9 million from a syndicate led by Ikarian Capital to support the development of a product candidate for advanced breast cancer[19]. - The Nova Acquisition may lead to significant ownership dilution for stockholders without guaranteed strategic benefits[211]. Clinical Trials and Drug Development - The lead program is a Phase 1/2 trial of a pan-NOS inhibitor in combination with nab-paclitaxel and alpelisib for metaplastic breast cancer (MpBC), with the Phase 2a portion reached in 2025 and additional sites added[20]. - A Phase I/II clinical trial of L-NMMA plus taxane achieved an overall response rate of 45.8%, with no grade ≥3 toxicities attributed to L-NMMA[27]. - Clinical trials are conducted in three phases, with Phase 3 involving a larger patient population to evaluate efficacy and safety[66]. - The FDA requires a comprehensive submission process for new drug products, including preclinical studies, IND submission, and clinical trials[50]. - An IND goes into effect 30 days after filing unless the FDA imposes a clinical hold[53]. - The FDA aims to complete the review of most standard NDAs within 10 months and priority review products within 6 months[70]. - Companies must submit annual reports detailing IND activities and any serious adverse reactions during clinical trials[62]. - The FDA may suspend or terminate clinical trials if participants are exposed to unacceptable health risks[57]. - Compliance with GCP and GLP regulations is essential throughout the drug development process[51]. - The FDA may require Risk Evaluation and Mitigation Strategies (REMS) as a condition of approval to minimize risks associated with the product[72]. - Advisory committees may review novel drug applications, providing recommendations that the FDA considers but is not bound by[74]. Regulatory and Compliance Challenges - The FDA commits to reviewing resubmissions of New Drug Applications (NDAs) in 2 or 6 months depending on the information provided[79]. - Post-approval, the FDA may impose conditions such as post-marketing studies or distribution restrictions that can affect market potential[81]. - Drug manufacturers must comply with ongoing FDA regulations, including recordkeeping and periodic reporting, to maintain compliance[82]. - The company is subject to various state and federal laws regarding drug pricing and may face challenges in revenue generation due to potential price controls and reimbursement reductions[125]. - The company must navigate evolving data privacy and security laws, which could impose significant compliance costs and risks[127]. - Compliance with healthcare regulatory laws may expose the company to criminal sanctions and civil penalties[215]. - Relationships with third-party payors and healthcare professionals are subject to fraud and abuse laws, impacting operational arrangements[216]. Financial Performance and Projections - The company incurred a net loss of $19.0 million for the year ended December 31, 2024, but recorded a net income of $149.0 million for the year ended December 31, 2025, primarily due to a $151.0 million non-cash gain from the extinguishment of a royalty purchase liability[136]. - As of December 31, 2025, the company had an accumulated deficit of $307.3 million, indicating ongoing financial challenges despite the recent net income[136]. - The company anticipates continued operating losses for the foreseeable future, emphasizing the need for successful product development to achieve profitability[137]. - The company may seek additional capital through securities offerings or debt financing, which could dilute existing shareholders and impose operational restrictions[138]. Intellectual Property Risks - The company has pending and in-force patent families covering certain combinations of tilarginine with oncology products, estimated to expire between 2035 and 2045[38]. - Intellectual property protection is critical, with potential challenges in securing broad patent coverage that could impair commercialization efforts[158]. - The patent application process is expensive and time-consuming, and the company may not be able to secure necessary protections in all jurisdictions[160]. - The uncertainty surrounding patent rights and potential infringement claims could limit the company's competitive advantage in the market[163]. - The company may face difficulties in enforcing its intellectual property rights, which could lead to costly and time-consuming legal battles[168]. - The company faces significant risks related to intellectual property rights, including potential infringement claims that could adversely affect its competitive position and financial condition[169]. - There is uncertainty regarding the validity of the company's patents, which could be challenged in litigation, potentially leading to loss of patent protection and harm to business operations[172]. - The biotechnology and pharmaceutical industries are subject to rapid technological changes and substantial litigation, increasing the risk of infringement claims against the company's product candidates[172]. - The company may incur substantial costs related to intellectual property litigation, which could divert management's attention and resources away from core business activities[170]. - Changes in patent law, such as the Leahy-Smith Act, could increase uncertainties and costs associated with patent prosecution and enforcement, adversely impacting the company's financial condition[181]. - The company relies on trade secrets and proprietary information, and any breach of confidentiality agreements could harm its competitive position[180]. - The federal government retains certain rights in inventions developed with its financial assistance, which could affect the company's ability to enforce patents related to federally funded research[184]. - The company may face ownership disputes related to intellectual property, which could lead to costly litigation and impact its business operations[177]. - The outcome of intellectual property litigation is unpredictable, and negative results could materially affect the company's stock price and overall financial health[179]. - The company must continuously monitor and protect its intellectual property rights, as unauthorized disclosures could impair its competitive position and business results[180]. - The company may not receive patent term extensions in the U.S. or foreign countries, which could harm its business and marketing exclusivity[185]. - Patent term extensions under the Hatch-Waxman Act can provide up to five years of additional protection, but the company may face challenges in obtaining these extensions[186]. - Compliance with procedural and fee payment requirements is crucial for maintaining patent protection; non-compliance could lead to loss of patent rights[188]. - The company’s trademarks and trade names may face challenges, and failure to protect them could adversely affect name recognition and market competitiveness[189]. - Intellectual property rights may not be adequately protected in foreign jurisdictions, potentially allowing competitors to exploit the company's technology[191]. - The company may face significant costs and resource diversion in enforcing patent rights in foreign jurisdictions, impacting overall business focus[194]. - Failure to identify relevant third-party patents could adversely affect the company's ability to develop and market its product candidates[195]. - Infringement claims could arise if the company incorrectly interprets patent relevance, leading to potential financial and operational setbacks[196]. - Patent terms may not provide sufficient competitive protection, as they generally expire 20 years from the earliest filing date[198]. - Disagreements over intellectual property agreements could narrow the company's rights, affecting financial obligations and overall business operations[206]. Market and Commercialization Challenges - Coverage and reimbursement from third-party payors are critical for successful commercialization of pharmaceutical products, with potential limitations on approved lists[110]. - Delays in obtaining coverage and reimbursement for new drugs can negatively impact market acceptance and future revenues[111]. - Legislative changes, such as the ACA, have significantly affected pharmaceutical pricing and reimbursement under government healthcare programs[119]. - Automatic reductions of Medicare payments to providers up to 2% per fiscal year are in effect through FY 2032, impacting overall healthcare costs[120]. - Recent Congressional inquiries aim to increase transparency in pharmaceutical pricing and reduce prescription drug costs under Medicare[121]. - Successful commercialization of the product candidate relies on third-party payors providing adequate coverage and reimbursement[213]. - The process of obtaining coverage and reimbursement is costly and time-consuming, potentially delaying market acceptance[214].

Revenue and Profitability - Revenue for Q4 2025 was $794 million, a 80% increase from $441 million in Q4 2024[3] - Full year 2025 revenue reached $2.49 billion, up 35% from $1.85 billion in 2024[3] - Gross profit for Q4 2025 was $144 million, compared to $82 million in Q4 2024, reflecting a gross margin of 18.1%[3] - Net income for 2025 was $149 million, significantly higher than $10 million in 2024[3] - Net income for 2025 reached $149,703 thousand, a significant increase from $9,924 thousand in 2024, representing a growth of approximately 1,409%[23] - Net income attributable to controlling interests for Q4 2025 was $35,535,000, a significant increase from $9,781,000 in Q4 2024[26] - EBITDA for Q4 2025 reached $72,032,000, compared to $42,633,000 in Q4 2024, reflecting a growth of 68.5%[26] - Adjusted EBITDA for the twelve months ended December 31, 2025, was $341,677,000, up from $165,133,000 in the previous year, indicating a year-over-year increase of 106.7%[26] Financial Position and Cash Flow - The company reported a year-end backlog of $8 billion, an 87% increase over the previous year[6] - Net cash provided by operating activities increased to $331,645 thousand in 2025, compared to $117,613 thousand in 2024, marking an increase of about 182%[23] - Total assets amounted to $1,816,272 thousand, while total liabilities and member's equity were $1,478,031 thousand, reflecting a healthy balance sheet position[21] - Cash and cash equivalents at the beginning of the period were $207,987,171, increasing to $394,876,207 by the end of the period[24] - The company reported a net cash used in financing activities of $68,014,000 for the period, compared to $79,373,000 in the previous period[24] Future Projections - The company expects 2026 revenue guidance in the range of $3.720 billion to $3.820 billion[10] - Projected gross profit for 2026 is estimated between $580 million and $620 million, with a gross margin of 15.6% to 16.2%[10] - Adjusted EBITDA for 2026 is expected to be between $400 million and $420 million[10] Investment and Expenses - Cash flows used in investing activities totaled $76,742 thousand in 2025, up from $8,269 thousand in 2024, reflecting a significant increase in investment activity[23] - The company incurred $55,331 thousand in cash paid for acquisitions in 2025, indicating ongoing strategic growth initiatives[23] - Depreciation and amortization expenses were $85,543 thousand in 2025, slightly up from $84,836 thousand in 2024[23] - Unit-based compensation expense rose to $27,326 thousand in 2025, compared to $8,607 thousand in 2024, showing an increase of approximately 218%[23] Debt Management - The successful IPO raised $552.5 million in net proceeds, which was used to repay outstanding term loans[6] - Interest expense decreased to $12,297,000 in Q4 2025 from $13,733,000 in Q4 2024, showing a reduction of 10.5%[26] - The company reported a loss on extinguishment of debt of $3,061 thousand in 2024, which was not present in 2025, indicating improved debt management[23] - The company recorded a loss on the extinguishment of debt of $4,398,000 in Q4 2024, which was not repeated in Q4 2025[26] Changes in Accounts - Accounts receivable saw a positive change of $21,469 thousand in 2025, contrasting with a negative change of $49,970 thousand in 2024[23] - Contract liabilities increased by $66,896 thousand in 2025, compared to an increase of $24,344 thousand in 2024, indicating a growth of approximately 175%[23] - Non-cash compensation expense for Q4 2025 was $24,455,000, significantly higher than $2,722,000 in Q4 2024[26] - The provision for income taxes for Q4 2025 was $1,801,000, compared to a tax benefit of $399,000 in Q4 2024[26] - The change in the fair value of investments resulted in a loss of $750,000 in the previous year, which was not reported in the current year[26]

Financial Performance - Q4 2025 revenue increased by 94% to $6.2 million, while full year 2025 revenue rose by 38% to $17.7 million[9] - For the year ended December 31, 2025, Satellogic reported revenue of $17,707,000, a 37.5% increase from $12,870,000 in 2024[29] - The company's net loss available to stockholders for 2025 was $(4,783,000), significantly improved from $(116,272,000) in 2024[29] - Non-GAAP Adjusted EBITDA loss for 2025 was $(17,427,000), compared to a loss of $(33,731,000) in 2024, indicating a reduction in operational losses[24] - Satellogic's basic net loss per share improved to $(0.04) in 2025 from $(1.28) in 2024[29] - The company reported a net loss of $4,783,000 for the year ended December 31, 2025, compared to a net loss of $116,272,000 in 2024, indicating a significant improvement[33] Cash Flow and Liquidity - Cash and cash equivalents at year-end 2025 totaled $94.4 million, significantly up from $22.5 million at year-end 2024[20] - Cash, cash equivalents, and restricted cash at the end of the period rose to $102,092,000 in 2025, up from $23,682,000 in 2024, showing a strong liquidity position[33] - Net cash used in operating activities decreased to $26,886,000 in 2025 from $35,890,000 in 2024, reflecting better cash flow management[33] - The company generated $112,513,000 in net cash from financing activities in 2025, a substantial increase from $37,455,000 in 2024, driven by various stock offerings[33] Operational Efficiency - For the year ended December 31, 2025, net cash used in operating activities decreased by 25% to $26.9 million, reflecting improved operational efficiency[9] - The company incurred total costs and expenses of $48,726,000 in 2025, down from $65,076,000 in 2024, a decrease of 25.1%[29] - The company incurred depreciation expenses of $7,740,000 in 2025, down from $12,655,000 in 2024, indicating reduced asset depreciation[33] Assets and Liabilities - Total assets increased to $151,303,000 in 2025 from $61,691,000 in 2024, reflecting a growth of 144.5%[31] - Satellogic's total liabilities decreased to $90,777,000 in 2025 from $114,723,000 in 2024, a reduction of 20.9%[31] - Remaining performance obligations as of December 31, 2025, totaled $65.1 million, with $28.6 million expected to be recognized as revenue within one year[20] Strategic Partnerships and Contracts - An $18 million agreement was signed with CEiiA in Portugal for the delivery of two NewSat Mark V satellites, enhancing Europe's Earth observation capabilities[3] - The Government of Albania extended its agreement for high-frequency satellite monitoring, ensuring continued access to high-resolution imagery[5] - The new Merlin constellation, designed to remap the planet daily at 1-meter resolution, is fully funded by a $30 million customer contract, with the first launch scheduled for October 2026[7] Company Vision and Goals - The company aims to democratize access to geospatial data, focusing on high-resolution images to address global challenges such as climate change and food security[26] Changes in Financial Instruments - The company reported a change in fair value of financial instruments of $25,871,000 in 2025, compared to $(60,071,000) in 2024, indicating a positive shift[29] - The company reported a change in fair value of financial instruments resulting in a loss of $29,182,000 in 2025, contrasting with a gain of $58,546,000 in 2024[33] Stock-Based Compensation - Stock-based compensation increased to $4,260,000 in 2025 from $2,335,000 in 2024, reflecting higher employee compensation costs[33] Accounts Receivable - The company’s accounts receivable increased by $6,024,000 in 2025, compared to an increase of $1,126,000 in 2024, indicating potential growth in sales[33]

Company Status and Growth - The company will remain an emerging growth company until the last day of the fiscal year following the fifth anniversary of its IPO or until it meets certain revenue or market value thresholds, including total annual gross revenue of at least $1.235 billion or a market value exceeding $700 million [468]. - The company has elected to take advantage of reduced disclosure requirements available to emerging growth companies, which may affect the comparability of its financials with other public companies [469]. Financial Losses and Tax Implications - As of December 31, 2025, the company had approximately $153.2 million in federal net operating loss carryforwards and $156.4 million in state net operating loss carryforwards, with federal losses able to be carried forward indefinitely [487]. - The federal net operating losses generated after December 31, 2017, are limited to the lesser of the net operating loss carryover or 80% of the corporation's adjusted taxable income for taxable years beginning after December 31, 2020 [487]. - The company may experience ownership changes that could limit its ability to utilize net operating loss carryforwards, potentially increasing future tax obligations [490]. - Changes in tax laws, including the Tax Act and the Inflation Reduction Act of 2022, could materially increase the company's tax obligations and operational requirements [491]. Internal Controls and Compliance - The company has identified material weaknesses in its internal control over financial reporting in the past, which were remediated, but future weaknesses may still occur [485]. - The company's disclosure controls and procedures may not prevent all errors or fraud, leading to potential misstatements or insufficient disclosures [496]. - Inherent limitations in the control system may result in undetected errors or fraud due to faulty judgments or collusion [497]. - Compliance with evolving laws and regulations may divert management's focus from revenue-generating activities to compliance efforts, potentially harming business performance [493]. - Failure to comply with regulations could lead to difficulties in obtaining insurance and attracting qualified board members and senior management [494]. Legal and Operational Risks - The company is subject to U.S. and foreign anti-corruption laws, which could result in liability for violations and impact its business operations [480]. - The company may face increased costs and challenges in litigation due to exclusive forum provisions in its corporate charter, which could limit stockholders' ability to bring claims in favorable jurisdictions [476]. - Being a public company has resulted in increased legal, accounting, and compliance costs, which may negatively affect financial results [493]. - Unfavorable global economic conditions, including potential economic downturns and geopolitical conflicts, could adversely impact the company's operations and financial condition [492]. Financial Management - The company has broad discretion in the use of its cash, cash equivalents, and investments, which may not yield a return and could compromise its growth strategy [471]. - As a smaller reporting company, the company is not required to provide certain market risk disclosures under SEC rules [596].

Chicago Atlantic BDC, Inc. Reports Fourth Quarter and Full Year 2025 Financial Results NEW YORK, March 19, 2026 --- Chicago Atlantic BDC, Inc. ("LIEN" or the "Company") (NASDAQ: LIEN), a specialty finance company that has elected to be regulated as a business development company, today announced its financial results for the fourth quarter and full year ended December 31, 2025. Fourth Quarter 2025 Highlights and Subsequent Activity Peter Sack, Chief Executive Officer of the Company, commented, "Chicago Atla ...

Financial Performance - Chicago Atlantic BDC generated net investment income of $0.36 per share for Q4 2025, with total investment income of approximately $14.2 million[3][8] - For the fiscal year ended December 31, 2025, the company reported net investment income of approximately $33.1 million, or $1.45 per weighted average share[9] - Total investment income for the three months ended December 31, 2025, was $14,228,519, an increase from $12,648,226 in the same period of 2024, representing a growth of 12.5%[24] - Net investment income for the three months ended December 31, 2025, was $8,267,100, compared to $7,990,681 for the same period in 2024, reflecting an increase of 3.5%[24] - Basic and diluted net investment income per share for the three months ended December 31, 2025, was $0.36, up from $0.35 in the same period of 2024, representing a growth of 2.9%[24] - Interest income for the three months ended December 31, 2025, was $12,255,979, compared to $11,702,242 in the same period of 2024, marking an increase of 4.7%[24] - Fee income for the three months ended December 31, 2025, was $1,972,540, significantly higher than $945,984 in the same period of 2024, indicating a growth of 108.5%[24] - Management fees for the three months ended December 31, 2025, were $1,446,470, compared to $758,363 in the same period of 2024, reflecting an increase of 90.9%[24] Portfolio and Investments - As of December 31, 2025, the total investment portfolio had a fair value of approximately $333.3 million across 39 portfolio companies[6][7] - During Q4 2025, Chicago Atlantic BDC funded $31.7 million in new investments across seven portfolio companies[4][6] - Subsequent to year-end, the company funded an additional $93.9 million to seven borrowers, including $35.5 million to three new portfolio companies[6][4] - The company had no loans on non-accrual status as of December 31, 2025, indicating strong portfolio performance[7] Dividends and Shareholder Returns - The company declared a dividend of $0.34 per share for the quarter ending March 31, 2026, marking the sixth consecutive quarter at that rate[3][12] Liquidity and Assets - The company had $77.9 million of liquidity as of December 31, 2025, including $2.9 million in cash and $75.0 million available on its senior credit facility[10] - The net asset value (NAV) per share increased to $13.30 as of December 31, 2025, compared to $13.27 as of September 30, 2025[11] Operational Metrics - Total expenses for the three months ended December 31, 2025, amounted to $5,961,419, up from $4,657,545 in the same period of 2024, indicating a rise of 28.0%[24] - Net increase in net assets resulting from operations for the three months ended December 31, 2025, was $8,246,496, compared to $7,974,878 in the same period of 2024, showing an increase of 3.4%[24] - Weighted average shares outstanding for the three months ended December 31, 2025, were 22,820,590, slightly increasing from 22,820,368 in the same period of 2024[24] Strategic Focus - The company is focused on senior secured lending and plans to pursue opportunities in the cannabis sector amid increased M&A activity[4][3] Realized Losses - The company reported a net realized loss from investments of $(74,483) for the year ended December 31, 2025, compared to a loss of $(74,483) in the previous year, indicating no change[24]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of March, 2026 Commission File Number: 001-35129 Arcos Dorados Holdings Inc. (Exact name of registrant as specified in its charter) Río Negro 1338, First Floor Montevideo, Uruguay, 11100 (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports u ...