Financial Performance - Total revenue for Q4 2025 was $185.7 million, an increase of 0.6% or $1.1 million compared to Q4 2024[3] - Same-restaurant sales decreased by 3.3%, resulting in a decline of $5.4 million in revenue for the quarter[3] - Operating income for Q4 2025 was $10.3 million, a decrease of 25.3% or $3.5 million compared to Q4 2024[9] - Net income for Q4 2025 was $6.3 million, down 49.5% or $6.2 million from Q4 2024[10] - Restaurant-Level Adjusted EBITDA for Q4 2025 was $40.6 million, a decrease of 10.3% or $4.7 million compared to Q4 2024[11] - Total revenue for fiscal 2025 was $732.1 million, an increase of 3.0% or $21.5 million compared to fiscal 2024[13] - Same-restaurant sales for fiscal 2025 decreased by 0.5%, resulting in a decline of $2.9 million[13] - Operating income for fiscal 2025 was $43.7 million, a decrease of 24.8% or $14.4 million compared to fiscal 2024[16] - Net income for the fiscal year ended December 28, 2025, was $21,092, a decrease of 40% compared to $35,076 in the previous year[42] - Adjusted EBITDA for the fiscal year was $97,331, down from $104,760, reflecting a decline of 7.4%[43] - Net income for Q4 2025 was $6,277,000, representing a net income margin of 3.4%, compared to $12,429,000 and 6.7% in Q4 2024[53] - Adjusted EBITDA for fiscal year 2025 was $97,331,000, with an Adjusted EBITDA margin of 13.3%, down from $104,760,000 and 14.7% in fiscal year 2024[53] - Operating income for Q4 2025 was $10,331,000, with an operating income margin of 5.6%, compared to $13,833,000 and 7.5% in Q4 2024[57] - Restaurant-Level Adjusted EBITDA for fiscal year 2025 was $158,402,000, with a Restaurant-Level Adjusted EBITDA margin of 21.6%, down from $168,114,000 and 23.7% in fiscal year 2024[57] Expansion and Growth - The company opened eight new restaurants in fiscal 2025, bringing the total to 102[19] - Fiscal 2026 outlook includes the opening of 8 new units and a restaurant-level adjusted EBITDA margin target of 20.5% to 21%[21] - Portillo's continues to expand its restaurant footprint, operating over 100 locations across 11 states, with plans for further growth in new markets[30] Operational Costs and Expenses - Total restaurant operating expenses for the quarter were $145.171 million, accounting for 78.2% of net revenues, compared to 75.5% in the prior year, indicating an increase in operational costs[38] - General and administrative expenses for fiscal year 2025 totaled $77,140,000, compared to $75,089,000 in fiscal year 2024[57] - Depreciation and amortization for Q4 2025 was $7,623,000, up from $6,568,000 in Q4 2024[57] - Interest expense for fiscal year 2025 was $22,808,000, down from $25,616,000 in fiscal year 2024[53] - Strategic realignment costs in fiscal year 2025 amounted to $6,474,000, including $4.4 million related to the company's strategic reset[56] - The company incurred a loss on disposal of property and equipment, along with impairment charges totaling $2,635,000 in fiscal year 2025[55] Financial Position - Total assets increased to $1,606,534, up from $1,500,086, representing a growth of 7.1% year-over-year[40] - Total current liabilities rose to $193,956, an increase of 43% from $135,569 year-over-year[40] - Cash and cash equivalents at the end of the period were $19,963, down from $22,876, a decrease of 12.5%[42] - Long-term debt, net of current portion, decreased to $237,977 from $275,422, a reduction of 13.6%[40] - Total stockholders' equity attributable to Portillo's Inc. increased to $467,797, up from $401,061, a growth of 16.6%[40] Customer Engagement and Market Adaptation - The company emphasizes its loyalty program, Portillo's Perks, which enhances customer engagement and retention through rewards and exclusive offers[31] - Portillo's is focused on enhancing its digital ordering and delivery platforms, which are critical for adapting to changing consumer preferences and market conditions[35] Risks and Challenges - The company faces various risks, including economic uncertainties, competition, and operational challenges, which could impact future performance and growth strategies[35]

Financial Performance - The net loss for 2025 was $12,879,000, compared to a net loss of $9,826,000 in 2024, representing an increase in loss of approximately 31.5%[375] - The company reported a total comprehensive loss of $12,949,000 for 2025, compared to $9,825,000 in 2024, reflecting a worsening financial position[375] - The accumulated deficit increased from $50,136,000 in 2024 to $63,015,000 in 2025, an increase of approximately 25.7%[373] - The company has incurred losses since inception, raising substantial doubt about its ability to continue as a going concern within one year after the issuance of the consolidated financial statements[394] - The company has a total accumulated deficit of $63,015,000 as of December 31, 2025[378] Assets and Liabilities - Total current assets decreased from $2,557,000 in 2024 to $695,000 in 2025, a decline of approximately 72.8%[373] - Total current liabilities increased from $1,772,000 in 2024 to $4,044,000 in 2025, an increase of approximately 128.3%[373] - The total liabilities increased from $1,841,000 in 2024 to $4,073,000 in 2025, an increase of approximately 121.3%[373] - Cash and cash equivalents decreased significantly from $2,338,000 in 2024 to $600,000 in 2025, a decline of approximately 74.3%[373] - Cash and cash equivalents decreased to $600,000 by the end of 2025, down from $2,338,000 at the beginning of the year, reflecting a net change of $1,738,000[380] Operating Expenses - Total operating expenses rose from $10,108,000 in 2024 to $11,404,000 in 2025, an increase of approximately 12.8%[375] - Research and development expenses totaled $5,423,000 for the year ended December 31, 2025, compared to $5,993,000 in 2024, reflecting a decrease of approximately 9.5%[427] - The company incurred stock-based compensation expenses of $1,142,000 in 2025, up from $818,000 in 2024, representing a 39% increase[380] - Total general and administrative expenses increased to $5,981,000 in 2025 from $4,115,000 in 2024, marking an increase of approximately 45.3%[426] - The company’s professional fees in research and development decreased to $3,666,000 in 2025 from $5,169,000 in 2024, a decline of approximately 29%[427] Shareholder Equity - Basic and diluted loss per common share for 2025 was $12.52, compared to $18.30 in 2024, indicating a decrease in loss per share[375] - The company’s additional paid-in capital increased from $53,194,000 in 2024 to $62,013,000 in 2025, an increase of approximately 16.8%[373] - The total number of outstanding shares was reduced from 3,280,000 to approximately 546,667 due to a one-for-six reverse stock split effective June 13, 2025[398] - The Company authorized 500,000,000 shares of common stock, with 2,018,746 shares issued and outstanding as of December 31, 2025, compared to 567,582 shares in 2024[440] Financing Activities - The company raised $6,151,000 from the issuance of common shares for cash during the year ended December 31, 2025, compared to $112,000 in the previous year[380] - The Company entered into a Sales Agreement to offer and sell up to $6.5 million of common stock, with 50,858 shares sold under this agreement for net proceeds of $442 during the year ended December 31, 2025[443] - The Company entered into an Equity Purchase Agreement with Square Gate Capital for up to $25 million in common stock purchases, with an option to increase by an additional $25 million[463] - The Company raised total gross proceeds of $1,425 from a private placement of common stock and warrants on June 26, 2025, with net proceeds of $1,079 after transaction costs[441] Debt and Interest - The Company issued convertible notes with an aggregate principal amount of $900, which can be converted into common stock at a conversion price of $7.74[433] - The convertible notes accrue interest at a rate of 12% per annum, increasing to 20% upon an Event of Default, with a maturity date set for 180 days after the closing of the Notes Offering[435] - The Company recorded interest expense of $278 for the year ended December 31, 2025, which includes $69 for accrued interest and $209 for amortization of deferred debt costs[437] Tax and Deferred Assets - As of December 31, 2025, the net deferred tax assets are $0, with a valuation allowance of $7,817 against NOL carryover of $7,817[458] - The Company has incurred an aggregate net operating loss of $37,780, with net operating loss carryforwards beginning to expire in varying amounts starting in 2034[456] Other Financial Information - The Company capitalized costs associated with acquiring an exclusive worldwide license for the compound ART27.13 as an intangible asset valued at $2,039 as of December 31, 2025[459] - The operating lease cost increased to $35 in 2025 from $32 in 2024, with cash paid for operating leases also rising to $35 from $30[462] - Future minimum lease payments under the operating lease liability total $73, with current liabilities of $40 and non-current liabilities of $29 as of December 31, 2025[462] - The Company is obligated to make additional payments related to research and development contracts based on progress and milestones achieved[465]

Exhibit 99.1 Iovance Biotherapeutics Highlights Strong Fourth Quarter and Full Year 2025 Results, Business Achievements and Corporate Updates ~30% Quarterly Revenue Growth Driven by Amtagvi Demand Gross Margin Increased to 50% FY25 Revenue of $264M Achieved Annual Guidance U.S. FDA Fast Track Designation Granted for Lifileucel in Second-Line Advanced Non-Small Cell Lung Cancer SAN CARLOS, Calif., February 24, 2026 -- Iovance Biotherapeutics, Inc. (NASDAQ: IOVA), a commercial biotechnology company focused on ...

Revenue and Financial Performance - For the year ended December 31, 2025, Shoals Technologies Group derived 78.7% of its revenue from the sale of system solutions, with a backlog of $747.6 million, including $326.2 million in signed purchase orders[171]. - Revenue increased by $76.1 million, or 19%, for the year ended December 31, 2025, driven by higher demand for products to meet utility scale solar project needs[208]. - For the year ended December 31, 2025, revenue was $475.3 million, an increase from $399.2 million in 2024, but a decrease from $488.9 million in 2023[222]. - Net income for the year ended December 31, 2025, was $33.6 million, an increase of $9.4 million, or 39%, compared to $24.1 million in 2024[207]. - Adjusted EBITDA for 2025 was $99.5 million, slightly up from $99.1 million in 2024, but down from $173.4 million in 2023[222]. - Cash provided by operating activities was $17.1 million in 2025, a significant decrease from $80.4 million in 2024 and $92.0 million in 2023[227]. - As of December 31, 2025, cash and cash equivalents were $7.3 million, down from $23.5 million in 2024[227]. - The company had outstanding borrowings of $136.8 million as of December 31, 2025, a decrease from $141.8 million in 2024[228]. - Net income for 2025 was $33.6 million, an increase from $24.1 million in 2024, but a decrease from $42.7 million in 2023[223]. Costs and Expenses - Cost of revenue increased by $51.6 million, or 20%, for the year ended December 31, 2025, resulting in a gross profit margin of 35.0%, down from 35.6% in 2024[209]. - General and administrative expenses rose by $19.3 million, or 23%, primarily due to increased legal and professional costs, including litigation expenses that grew from $6.0 million in 2024 to $9.1 million in 2025[210]. - Gross profit increased by $24.5 million, or 17%, for the year ended December 31, 2025, reflecting the company's ability to manage costs despite rising material prices[207]. - Gross profit for 2025 was $166.5 million, with a gross profit percentage of 35.0%, compared to 35.6% in 2024 and 34.4% in 2023[222]. - The company incurred approximately $41.0 million in expenses related to wire insulation shrinkback issues in 2025[233]. Market and Industry Conditions - The U.S. solar industry showed growth in 2025, with expansion in new solar module manufacturing capacity, indicating a positive outlook for the industry[187]. - The Inflation Reduction Act (IRA) and subsequent changes through H.R. 1 could impact the financial attractiveness of solar projects, potentially reducing demand for Shoals' products[185]. - Global inflationary pressures persisted in 2025, with higher interest rates affecting the company's cost of capital[189]. - The company faced challenges in obtaining raw materials due to global supply chain issues, exacerbated by the Russia-Ukraine conflict[190]. - The company is exposed to market risks from fluctuations in commodity prices, particularly steel, aluminum, and copper, which could adversely affect operating margins[260]. Corporate Structure and Strategy - The company simplified its corporate structure by eliminating the Up-C structure in the first quarter of 2023, resulting in all LLC interests being held by the company[173]. - The company has a focus on two end-markets: clean, grid-connected energy and data center electrical infrastructure, aiming to capitalize on the growing global demand for energy[170]. - The company plans to expand its sales presence and marketing efforts in current geographic markets and additional countries in the future[198]. - The company continues to monitor and optimize inventory levels in preparation for upcoming production demands[182]. Employee and Operational Metrics - The number of full-time employees in general and administrative departments increased from 185 to 199, indicating a focus on growth and expansion[197]. - The company announced a share repurchase program authorizing the repurchase of up to $150.0 million of Class A common stock, with an estimated completion date of December 31, 2025[230]. Liabilities and Warranty Issues - The company has a recorded warranty liability of $3.3 million related to wire insulation shrinkback as of December 31, 2025, with a potential estimated loss of $73.0 million[255]. - The company disclosed a range of potential loss from wire insulation shrinkback between $73.0 million and $160.0 million, with $69.7 million incurred to date[254]. - The company recorded total warranty expenses of $59.2 million, $13.3 million, and zero for the years ended December 31, 2023, 2024, and 2025, respectively[256]. - A 100 basis point increase in interest rates would impact the expected annual interest expense by approximately $1.4 million[263]. - As of December 31, 2025, the company reported long-term debt totaling $136.8 million, all of which is variable interest rate debt[263]. - Income tax expense was $14.9 million for the year ended December 31, 2025, compared to $13.7 million in 2024, with an effective tax rate decrease from 36.3% to 30.8%[216]. Interest and Financing - Interest expense decreased by $3.8 million, or 28%, for the year ended December 31, 2025, due to prior year prepayments on the Term Loan Facility[212]. - The company has $438.0 million in deferred tax assets, net of a $3.0 million valuation allowance as of December 31, 2025[252]. - Revenue recognition is primarily based on the output method, with a potential increase in net income of $0.4 million if recognized at a point in time[246]. - The company does not maintain insurance for product warranty issues and has initiated a lawsuit against Prysmian regarding wire insulation shrinkback[258].

Exhibit 99.1 NRG Energy, Inc. Reports Full Year 2025 Financial Results HOUSTON—February 24, 2026—NRG Energy, Inc. (NYSE: NRG) today reported GAAP Net Income of $66 million for the three months ended December 31, 2025 and $0.9 billion for the full year 2025. GAAP EPS — basic was $4.09, Cash Provided by Operating Activities was $1.9 billion, Adjusted Net Income was $1.6 billion, Adjusted EPS was $8.24, Adjusted EBITDA was $4.1 billion, and Free Cash Flow before Growth (FCFbG) was $2.2 billion for the full yea ...

Exhibit 3.2 Amended and Restated Bylaws of Cipher Digital Inc. (a Delaware corporation) Table of Contents Article II - Meetings of Stockholders 1 Article III - Directors 12 Article IV - Committees 14 Article V - Officers 15 Page i 1.1. Registered Office. 1 1.2. Other Offices. 1 2.1. Place of Meetings. 1 2.2. Annual Meeting. 1 2.3. Special Meeting. 1 2.4. Notice of Business to be Brought before a Meeting. 1 2.5. Notice of Nominations for Election to the Board. 5 2.6. Notice of Stockholders' Meetings. 9 2.7. ...

Repligen Corporation 41 Seyon Street Building #1, Suite 100 Waltham, Massachusetts 02453 Repligen Reports Fourth Quarter and Full Year 2025 Financial Results and Provides 2026 Financial Guidance WALTHAM, Mass., February 24, 2026 -- Repligen Corporation (NASDAQ:RGEN), a life sciences company focused on bioprocessing technology leadership, today reported financial results for its fourth quarter of 2025, covering the three- and twelve- month periods ended December 31, 2025. The Company is also providing financ ...

Exhibit 99.1 FIS Reports Full-Year 2025 Results and Introduces 2026 Outlook JACKSONVILLE, Fla., February 24, 2026 - FIS (NYSE:FIS), a global leader in financial technology, today reported its fourth quarter and full-year 2025 results. ® "We are entering 2026 with continued strong momentum as our commercial excellence initiatives and investments in innovation are driving durable revenue growth and expanding margins," said FIS CEO and President Stephanie Ferris. "With the Issuing acquisition, FIS now operates ...

| (In millions, except per share amounts) | | Fourth Quarter | | Full Year | | | | --- | --- | --- | --- | --- | --- | --- | | | 2025 | 2024 | Change | 2025 | 2024 | Change | | Revenues | $1,060 | $981 | 8% | $3,648 | $3,234 | 13% | | Net Earnings | $102 | $89 | 15% | $278 | $213 | 31% | | Diluted weighted average number of shares | | | | | | | | outstanding (WASO) | 268.423 | 268.955 | | 268.726 | 267.733 | | | Diluted Earnings Per Share | | | | | | | | (EPS) | $0.38 | $0.33 | 15% | $1.03 | $0.80 | 29% | | ...

EXHIBIT 99.1 WESTLAKE CORPORATION Contact—(713) 960-9111 Investors—Steve Bender Media—L. Benjamin Ederington Westlake Corporation Reports Fourth Quarter and Full Year 2025 Results • Meaningful actions taken in 2025 to optimize footprint, improve plant reliability, and structurally reduce costs expected to provide earnings improvement in 2026 HOUSTON--(BUSINESS WIRE)--Westlake Corporation (NYSE: WLK) (the "Company" or "Westlake") today announced fourth quarter and full year 2025 results. i SUMMARY FINANCIAL ...