Financial Performance - Consolidated revenues for Q4 2025 were $574.6 million, a decrease of 5.2% from Q4 2024[5] - Net earnings from continuing operations for Q4 2025 were $19.9 million, down from $58.3 million in the prior year[6] - Adjusted EBITDA for Q4 2025 was $61.5 million, representing 10.7% of revenues, compared to $64.1 million or 10.6% of revenues in Q4 2024[6] - Total revenues for the three months ended December 31, 2025, were $574,586, a decrease of 5.2% from $606,376 in the same period of 2024[25] - Lease revenues and fees for the year ended December 31, 2025, were $2,322,754, a slight decrease of 1.8% compared to $2,366,489 in 2024[27] - Operating profit for the three months ended December 31, 2025, was $38,529, down 24.2% from $50,874 in the prior year[25] - Net earnings for the year ended December 31, 2025, were $146,788, a decrease of 25.5% from $197,249 in 2024[23] - Basic earnings per share for continuing operations were $3.10 for the year ended December 31, 2025, compared to $4.63 in 2024, reflecting a decline of 33.5%[23] - Non-GAAP net earnings from continuing operations for the full year 2025 were $143.51 million, compared to $146.97 million for the full year 2024, reflecting a decrease of 2.5%[36] - Non-GAAP diluted earnings per share from continuing operations for the three months ended December 31, 2025, was $0.74, down from $0.78 in the same period of 2024, representing a decline of 5.1%[37] - Adjusted EBITDA for the three months ended December 31, 2025, was $61.55 million, compared to $63.93 million for the same period in 2024, indicating a decrease of 3.7%[43] - For the twelve months ended December 31, 2025, net earnings from continuing operations reached $124,352 thousand, with an adjusted EBITDA of $269,167 thousand[47] Cash and Assets - The company ended Q4 2025 with cash of $308.8 million and gross debt of $600 million[9] - Cash and cash equivalents increased to $308,774 as of December 31, 2025, from $90,920 in 2024, representing a significant increase of 239.5%[21] - Total assets grew to $1,610,408 as of December 31, 2025, up from $1,513,767 in 2024, indicating a growth of 6.4%[21] - Total liabilities remained relatively stable at $863,991 in 2025 compared to $863,486 in 2024[21] - Cash provided by operating activities for the year ended December 31, 2025, was $334,962, an increase from $138,525 in 2024[23] Growth and Projections - For full year 2026, the company projects total revenues from continuing operations between $3,020 million and $3,140 million[11] - The projected diluted EPS from continuing operations for full year 2026 is between $3.34 and $3.79[11] - The projected net earnings from continuing operations for fiscal year 2026 are estimated to be between $132,000 thousand and $155,000 thousand, with projected adjusted EBITDA ranging from $350,000 thousand to $320,000 thousand[51] - The projected diluted earnings per share from continuing operations for full year 2026 is estimated to be between $4.00 and $4.45[53] - For the three months ended March 31, 2026, the projected adjusted EBITDA from continuing operations is expected to be between $65,000 thousand and $75,000 thousand[52] Strategic Initiatives - The company plans to continue investing in growth and deleveraging following the acquisition of Purchasing Power[3] - The company plans to include estimated interest expense on Purchasing Power's asset-backed secured borrowings in its adjusted EBITDA starting in 2026, indicating a strategic shift in financial reporting[33] - The management emphasized that non-GAAP measures provide a clearer picture of operational performance, which is crucial for strategic planning and forecasting[35] Expenses and Write-offs - The company incurred restructuring expenses of $2.8 million in Q4 2025, which contributed to the decline in net earnings[37] - The total interest expense for the three months ended December 31, 2025, was $7.12 million, reflecting the costs associated with asset-backed secured borrowings[43] - Interest expense for the twelve months ended December 31, 2025, totaled $32,254 thousand, reflecting an increase from previous periods[47] - Stock-based compensation for the twelve months ended December 31, 2025, was $28,477 thousand, indicating a significant investment in employee incentives[47] - The company incurred restructuring expenses of $2,798 thousand for the twelve months ended December 31, 2025, as part of its operational adjustments[47] - The company reported a write-off of assets due to retailer bankruptcy amounting to $4.996 million in Q4 2025, impacting overall financial results[43] - The company reported costs related to a cybersecurity incident, net of insurance recoveries, amounting to $(88) thousand for the twelve months ended December 31, 2025[47] Market Performance - Progressive Leasing's GMV for Q4 2025 was $534 million, down 10.6% year-over-year[8] - PROG Marketplace GMV increased by 187% during the quarter[4] - Four Technologies achieved a GMV growth of 126% in Q4 2025[4] - Progressive Leasing reported a total GMV of $837.97 million for the three months ended December 31, 2025, an increase of 14.5% compared to $732.07 million in the same period of 2024[29]

Workforce and Business Operations - Sabre Corporation's workforce was reduced by approximately 17% following the sale of its Hospitality Solutions business, resulting in a total of 4,650 employees as of December 31, 2025[35]. - The company operates a business-to-business travel marketplace called Sabre Mosaic Marketplace, which integrates travel content from various suppliers with a large network of travel buyers[16]. - The company generates revenue through various streams, including distribution revenue from bookings made through its global distribution system (GDS), SaaS and hosted solutions, software licensing, and professional service fees[22][23][24][25]. - Sabre's customer base includes airlines, hotels, travel agencies, and corporate travel departments, with varying phases of adopting NDC strategies[21]. - A significant portion of travel buyer agreements, approximately 15% to 20%, is up for renewal each year, impacting revenue stability[57]. - The company relies on relationships with a limited number of large travel buyers, making it vulnerable to changes in their demand or business practices[55]. - The company has divested its Hospitality Solutions business, which may not yield the anticipated strategic and financial benefits, potentially impacting future growth[75]. Technology and Innovation - In 2024, Sabre launched SabreMosaic Airline Technology, an AI-enabled platform designed to help airlines create and sell personalized content to travelers[17]. - Sabre's growth strategy focuses on innovation and enhancing customer relationships, including the integration of new distribution capability (NDC) and expanding product lines[18]. - The company must continue to innovate and evolve its offerings to remain competitive in a rapidly changing travel technology market[44]. - The company is investing in the development of SabreMosaic Airline Technology, which is expected to impact revenue positively in future years[161]. Financial Performance and Risks - Revenue is highly dependent on transaction volumes in the global travel industry, particularly air travel, which significantly affects financial performance[42]. - The company faces pricing pressure from travel suppliers, leading to potential revenue and margin declines due to negotiations for lower fees[49]. - Financial instability among travel suppliers, including airlines, could lead to increased payment delays or defaults, negatively impacting cash flow[50]. - The company has $4.3 billion of outstanding indebtedness as of December 31, 2025, which may affect cash flow and operational capabilities[102]. - The company’s financial performance may be adversely affected by rising interest rates, which have already increased interest expenses significantly[106]. - The company anticipates a material negative impact on financial results and liquidity due to changing market conditions, with approximately $248 million of principal due or committed to be redeemed early under current debt facilities[212]. Cybersecurity and Compliance - The company has faced cybersecurity incidents, including unauthorized data extraction, which have not yet materially impacted financial conditions but could lead to significant future costs and reputational harm[87]. - The company has implemented measures to protect critical systems and data, but these protections are not comprehensive for all systems, potentially leading to significant recovery costs in the event of a disaster[83]. - Compliance with PCI Data Security Standards is essential for maintaining credit card processing services, with significant costs associated with compliance that may increase over time[63]. - Regulatory compliance regarding personal data protection is increasingly complex and could lead to significant operational costs and liabilities[52]. - The company is involved in various legal proceedings that could incur substantial costs and divert management's attention, potentially impacting financial results[64]. Market Conditions and Competition - The company faces competition from other global travel marketplace providers, local distribution systems, and direct distribution by travel suppliers[26]. - The travel industry is seasonal, with revenue typically peaking in the first and third quarters and declining significantly in the fourth quarter due to holiday travel patterns[33]. - The company is exposed to risks from adverse global economic conditions, including inflation, reduced consumer confidence, and increased tariffs, which could negatively impact travel demand[98]. - The company faces significant risks related to international operations, including political instability, regulatory changes, and currency fluctuations[101]. Debt and Liquidity Management - The company may need to incur additional indebtedness in the future, which could intensify existing risks associated with its current debt levels[103]. - The company has sufficient resources to fund liquidity requirements over the next twelve months, including approximately $248 million in principal payments due or committed for early redemption under current debt facilities[158]. - The company repaid $96 million of debt using cash from its balance sheet[213]. - Proceeds of $822 million from the sale of Hospitality Solutions were used to pay down debt and add approximately $135 million of cash to the balance sheet[213]. Revenue and Cost Management - Revenue for the year ended December 31, 2025, was $2,770,983, an increase of $26,138 or 1% compared to 2024[189]. - Adjusted Net Loss from continuing operations for 2025 was $(14,835), improving from $(75,858) in 2024[186]. - Cost of revenue, excluding technology costs, increased by $60,712 or 5% to $1,206,987 in 2025[192]. - Selling, general and administrative expenses decreased by $18,571 or 3% to $557,401 in 2025[194]. - Free Cash Flow for 2025 was $(191,751), a decline from $(9,278) in 2024[186]. Strategic Priorities and Future Outlook - The company has established strategic priorities to achieve sustainable long-term growth in response to changing needs of airline, hotel, and agency customers[157]. - The company anticipates continued growth in global share as it invests in technology and expands content and product functionality[164]. - Recent industry air distribution volume growth has leveled off, which may impact the company's growth rate moving forward[157].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q Commission File Number: 001-39667 LESLIE'S, INC. ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended January 3, 2026 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Delaware 20-8397425 (State or other jurisdiction of incorporation or organization) 2005 East Indian School Road Phoe ...

For the FISCAL YEAR ended December 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________________ to ___________________ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | Commission I.R.S. Employer | Registrants; | | | | | | --- | --- | --- | --- | --- | --- | | File Number Identification ...

Dallas, February 18, 2026 - (PRNewswire) - Wingstop Inc. (NASDAQ: WING) today announced financial results for the fourth quarter and fiscal year ended December 27, 2025. "Our team continues to demonstrate operational excellence as we opened 493 net new restaurants and expanded into six new international markets," said Michael Skipworth, President & Chief Executive Officer. "I am proud of our efforts as we implemented the Wingstop Smart Kitchen in all of our 2,586 domestic restaurants in just 10 months. In a ...

Sabre reports full year 2025 results Company meets fourth quarter guidance for revenue and Pro Forma Adjusted EBITDA; advances AI strategic initiatives Business Highlights: 2025 Financial Results: SOUTHLAKE, Texas – February 18, 2026 – Sabre Corporation ("Sabre" or the "Company") (NASDAQ: SABR) today announced financial results for the quarter and year ended December 31, 2025. 1 • Repaid >$1 billion of debt and reduced net leverage • Improved debt maturity profile with over 90% of debt maturing in 2029 or l ...

Exhibit 99.1 SolarEdge Announces Fourth Quarter and Full Year 2025 Financial Results MILPITAS, Calif. — February 18, 2026. SolarEdge Technologies, Inc. (Nasdaq: SEDG), a global leader in smart energy technology, today announced its financial results for the fourth quarter and year ended December 31, 2025. "Our fourth quarter results delivered 70% year-over-year revenue growth, marking our fourth consecutive quarter of year-over-year revenue growth and fifth consecutive quarter of margin expansion," said Shu ...

Exhibit 99.1 News Release JLL Reports 2025 Financial Results for Fourth Quarter and Full Year JLL achieved a record fourth-quarter diluted earnings per share of $8.34, up 66% versus the prior-year quarter (in local currency ) 1 CHICAGO, February 18, 2026 – Jones Lang LaSalle Incorporated (NYSE: JLL) today reported 2025 operating performance for the fourth quarter and full year. This was the seventh consecutive quarter of double-digit revenue increases driven by an acceleration of Transactional revenue growt ...

Merger and Acquisitions - On October 1, 2024, the company completed the Southwestern Merger, issuing approximately 95.7 million shares valued at approximately $7.9 billion to Southwestern's shareholders[262]. - The company assumed approximately $3.7 billion of Southwestern's senior notes as part of the merger, with Southwestern's existing credit facility extinguished for approximately $585 million[281]. - The Southwestern Merger was completed on October 1, 2024, with the company assuming approximately $3.7 billion of Southwestern's senior notes and extinguishing its credit facility for about $585 million[291]. Financial Performance - Cash provided by operating activities increased to $4.58 billion in 2025 from $1.57 billion in 2024, driven by higher sales volumes and natural gas prices[284]. - Total natural gas, oil, and NGL sales rose to $8.48 billion in 2025, an increase of $5.51 billion compared to 2024, primarily due to increased volumes from the Southwestern Merger and higher average natural gas prices[299]. - Capital expenditures for 2025 were $2.74 billion, up from $1.56 billion in 2024, reflecting increased drilling and completion activities[288]. - Cash paid for common stock dividends was $765 million in 2025, compared to $388 million in 2024[296]. - The company received $116 million in deferred consideration in 2025 related to Eagle Ford divestitures, down from $166 million in 2024[286]. - The average realized price for natural gas in 2025 was $3.16 per Mcf, compared to $2.75 per Mcf in 2024[298]. - Total gains on natural gas derivatives reached $542 million in 2025, a significant recovery from a loss of $32 million in 2024[303]. - Marketing revenues surged to $3.163 billion in 2025, up from $1.290 billion in 2024, driven by increased production volumes and higher natural gas prices[304]. Expenses and Liabilities - Production expenses increased to $635 million in 2025 from $316 million in 2024, largely due to the Southwestern Merger and increased volumes[300]. - Gathering, processing, and transportation expenses rose to $2.38 billion in 2025, up from $1.04 billion in 2024, attributed to the Southwestern Merger and increased rates[301]. - Severance and ad valorem taxes increased by $96 million in 2025 compared to 2024, primarily due to a $103 million increase from the Southwestern Merger[302]. - Interest expense on debt increased to $295 million in 2025 from $181 million in 2024, largely due to the assumption of Southwestern's Senior Notes[310]. - Income tax expense for 2025 was recorded at $463 million, compared to a benefit of $127 million in 2024[311]. - Depreciation, depletion, and amortization increased to $2.980 billion in 2025 from $1.729 billion in 2024, primarily due to the Southwestern Merger[308]. Capital and Investment Plans - The company plans to invest between $2.75 billion and $2.95 billion in capital expenditures for the year ending December 31, 2026, completing 205 to 235 gross wells[282]. - The company entered into an Amended and Restated Credit Agreement on September 30, 2025, increasing the 2025 Credit Facility's commitments from $2.5 billion to $3.5 billion[265]. - The 2025 Credit Facility provides for aggregate commitments of $3.5 billion, with $3.5 billion available for borrowings as of December 31, 2025[280]. Operational Metrics - The average operated rig count in 2025 was 11 rigs, with 272 operated wells completed, compared to 9 rigs and 81 wells in 2024[288]. - The company completed 272 operated wells in 2025, a significant increase from 81 in 2024, indicating a ramp-up in drilling activity[288]. - The company repurchased 0.9 million shares for $100 million in 2025, with no repurchases in 2024[295]. Environmental Goals - The company aims for net zero (Scope 1 and 2) greenhouse gas emissions by 2035 and to maintain 100% responsibly sourced gas certification across its portfolio[261].

Merger and Acquisitions - On October 1, 2024, the company completed the Southwestern Merger, issuing approximately 95.7 million shares valued at about $7.9 billion to Southwestern's shareholders[262]. - The company assumed approximately $3.7 billion of Southwestern's senior notes as part of the merger, with Southwestern's existing credit facility extinguished for approximately $585 million[281]. - The Southwestern Merger was completed on October 1, 2024, with approximately $3.7 billion of Southwestern's senior notes assumed and a credit facility extinguished for approximately $585 million[281][291]. Financial Performance - Cash provided by operating activities increased to $4.58 billion in 2025 from $1.57 billion in 2024, driven by higher sales volumes and natural gas prices[284]. - Total natural gas, oil, and NGL sales rose to $8.48 billion in 2025, an increase of $5.51 billion compared to $2.97 billion in 2024, primarily due to increased volumes from the Southwestern Merger and higher average natural gas prices[299]. - Capital expenditures for 2025 were $2.74 billion, up from $1.56 billion in 2024, reflecting increased drilling and completion activities[288]. - Cash paid for common stock dividends was $765 million in 2025, compared to $388 million in 2024[296]. - The company repurchased 0.9 million shares for $100 million in 2025, with no repurchases in 2024[295]. - The average realized price for natural gas in 2025 was $3.16 per Mcf, compared to $2.75 per Mcf in 2024[298]. - Total gains on natural gas derivatives reached $542 million in 2025, a significant recovery from a loss of $32 million in 2024[303]. - Marketing revenues surged to $3.163 billion in 2025, up from $1.290 billion in 2024, driven by increased production volumes and higher natural gas prices[304]. Expenses and Liabilities - Production expenses increased to $635 million in 2025 from $316 million in 2024, largely due to the Southwestern Merger and increased volumes[300]. - Gathering, processing, and transportation expenses rose to $2.38 billion in 2025, up from $1.04 billion in 2024, attributed to the Southwestern Merger and increased rates[301]. - Severance and ad valorem taxes increased by $96 million in 2025 compared to 2024, primarily due to a $103 million increase from the Southwestern Merger[302]. - Interest expense on debt increased to $295 million in 2025 from $181 million in 2024, mainly due to the assumption of Southwestern's Senior Notes[310]. - Income tax expense for 2025 was recorded at $463 million, compared to a benefit of $127 million in 2024[311]. - Depreciation, depletion, and amortization increased to $2.980 billion in 2025 from $1.729 billion in 2024, primarily related to the Southwestern Merger[308]. Future Commitments and Investments - The estimated gross undiscounted future commitments under various agreements were approximately $9.6 billion as of December 31, 2025[279]. - The company plans to invest between $2.75 billion and $2.95 billion in capital expenditures for the year ending December 31, 2026, with expectations to complete 205 to 235 gross wells[282]. - The company entered into an Amended and Restated Credit Agreement on September 30, 2025, increasing the 2025 Credit Facility's commitments from $2.5 billion to $3.5 billion[265]. - The 2025 Credit Facility provides for aggregate commitments of $3.5 billion, with $3.5 billion available for borrowings as of December 31, 2025[280]. Environmental Goals - The company aims for net zero (Scope 1 and 2) greenhouse gas emissions by 2035 and to maintain 100% responsibly sourced gas certification across its portfolio[261].