Financial Performance - Reported quarterly revenue of $5.80 million, a 32% decrease compared to Q3 of fiscal 2025[8] - Telecommunications Products & Services business revenue was $5.76 million, down 32% compared to Q3 of fiscal 2025[8] - DaGe Platform generated $4,354 in revenue, a significant decline from $30,529 in Q3 of fiscal 2025 due to capital constraints[8] - Net loss attributable to shareholders was $1.67 million, a 0.6% increase from $1.66 million in Q3 of fiscal 2025[8] - Operating expenses were $1.96 million, a 4.5% decrease from $2.06 million in Q3 of fiscal 2025[8] - The Big Data segment generated $126 in revenue, compared to nil in Q3 of fiscal 2025, indicating initial growth in this area[8] Assets and Liabilities - On November 30, 2025, total assets were $60.06 million and total liabilities were $43.71 million[13] - The company reported a working capital surplus of $7.26 million and shareholders' equity of $16.34 million as of November 30, 2025[8] Business Strategy - FingerMotion is transitioning towards a more diversified business model, focusing on Command and Communication segment growth[9] - CEO Martin Shen emphasized a disciplined approach to capital management and a focus on operational efficiency to drive higher revenues[10]

Financial Results - Quantum Corporation provided preliminary financial results for its fiscal third quarter ended December 31, 2025[4] - The financial results will be detailed in a press release dated January 15, 2026[4] Regulatory Compliance - The report is filed under the Securities Exchange Act of 1934, indicating compliance with regulatory requirements[5]

Financial Results Announcement - ImmunityBio, Inc. announced preliminary, unaudited financial results for the fiscal quarter and full year ending December 31, 2025[4] - The reported financial results are based on preliminary estimates and may differ materially from actual results to be disclosed in the Annual Report on Form 10-K[4] - The financial results are subject to the Company's financial closing procedures and final adjustments[4] - The Company has not yet finalized its operating results and financial position for the fiscal year ended December 31, 2025[4] Press Release Information - The press release regarding these results was issued on January 15, 2026[4] - The information provided in the press release is not deemed "filed" under the Securities Exchange Act of 1934[5] - The press release is included as Exhibit 99.1 in the Current Report on Form 8-K[6] Company Information - The Company is listed on The Nasdaq Global Select Market under the symbol IBRX[2] - The Company is incorporated in Delaware and has its principal executive offices in San Diego, California[1] - David C. Sachs serves as the Chief Financial Officer of ImmunityBio, Inc.[9]

Financial Performance - Net revenues for the fourth quarter of 2025 were $17,890 million, a decrease of 2% from $18,224 million in the previous quarter, but an increase of 10% from $16,223 million in the same quarter last year [3]. - Institutional Securities segment reported net revenues of $7,931 million, down 7% from $8,523 million quarter-over-quarter, but up 9% year-over-year from $7,267 million [3]. - Wealth Management segment achieved net revenues of $8,429 million, reflecting a 2% increase from $8,234 million in the previous quarter and a 13% increase from $7,478 million year-over-year [3]. - Investment Management segment reported net revenues of $1,720 million, a 4% increase from $1,651 million quarter-over-quarter and a 5% increase from $1,643 million year-over-year [3]. - Consolidated net revenues for Q4 2025 were $17,890 million, down 2% from Q3 2025 but up 10% compared to the same quarter last year [7]. - The firm’s total net revenues for the twelve months ended December 31, 2025, were $70,645 million, representing a 14% increase from $61,761 million for the same period last year [3]. Income and Earnings - Income before provision for income taxes was $5,760 million, down 4% from $6,028 million quarter-over-quarter, but up 17% from $4,906 million year-over-year [3]. - Net income applicable to Morgan Stanley was $4,397 million, a decrease of 5% from $4,610 million in the previous quarter, but an increase of 18% from $3,714 million year-over-year [3]. - Earnings applicable to Morgan Stanley common shareholders were $4,250 million, down 4% from $4,450 million quarter-over-quarter, and up 19% from $3,564 million year-over-year [3]. - Net income applicable to Morgan Stanley for the quarter was $2,049 million, down 17% from $2,468 million in the previous quarter but up 30% year-over-year from $1,891 million [11]. Expenses - Non-interest expenses totaled $12,112 million, a slight decrease of 1% from $12,196 million in the previous quarter, but an increase of 10% from $11,202 million year-over-year [3]. - Compensation and benefits as a percentage of net revenues in Wealth Management was 52%, down from 53% in the previous quarter and year [13]. - Compensation expense for Q4 2025 was $7.06 billion, up from $6.29 billion in Q4 2024, indicating a year-over-year increase of 12.3% [33]. - Total non-interest expenses for Q4 2025 were $12.112 billion, a slight decrease from $12.196 billion in Q3 2025 and an increase from $11.202 billion in Q4 2024 [35]. Assets and Capital - Total assets increased to $1,420,270 million, representing a 4% increase from Q3 2025 and a 17% increase year-over-year [7]. - Average common equity for the firm was $100.9 billion, a 2% increase from Q3 2025 and a 7% increase year-over-year [9]. - Common Equity Tier 1 capital ratio stood at 15.0%, down from 15.1% in Q3 2025 [9]. - Total assets under management or supervision reached $1,895 billion, a 5% increase from $1,807 billion in the previous quarter [21]. Wealth Management - Total client assets in Wealth Management grew to $7,381 billion, reflecting a 5% increase from $7,054 billion in the previous quarter and a 19% increase year-over-year from $6,194 billion [17]. - Net new assets in Wealth Management were $122.3 billion, a 51% increase from $81.0 billion in the previous quarter and a 116% increase year-over-year from $56.5 billion [17]. - The pre-tax margin for Wealth Management improved to 31%, compared to 30% in the previous quarter and 27% a year ago [13]. - The return on average common equity for Wealth Management was 27%, up from 25% in the previous quarter and 20% year-over-year [13]. Credit Losses and Loans - Provision for credit losses was $18 million, a significant decrease of 84% from $115 million in the previous quarter, and an increase of 32% from $264 million year-over-year [3]. - The allowance for credit losses (ACL) for total loans was $1,132 million, representing 0.4% of gross loans [25]. - Total loans increased by 4% to $107.7 billion from $103.4 billion in the previous quarter [23]. - Consolidated loans and lending commitments totaled $499.3 billion, a 4% increase from $479.4 billion in the previous quarter [23]. Employee Metrics - Worldwide employees increased to 82,992, a 1% increase from the previous quarter and a 3% increase year-over-year [6]. - The number of stock plan participants declined slightly in the second half of 2025 due to the disposition of the Firm's EMEA stock plan business [42].

Financial Performance - Net income for Q4 2025 was $10.8 million, a slight decrease of 0.55% compared to Q3 2025[5] - For the full year 2025, net income was $43.1 million, a decrease of 5.75% from $45.7 million in 2024[5] - Earnings per share for Q4 2025 were $1.12, a decrease of 0.88% compared to $1.13 in Q3 2025[5] - Pre-provision pre-tax earnings for Q4 2025 were $14.2 million, down 4.95% from $14.9 million in Q3 2025[5] - Total interest income for 2025 was $128.8 million, down 2.11% from $131.5 million in 2024[5] Asset and Loan Growth - Total assets increased to $2.0 billion, reflecting a growth of 3.82% from the previous quarter[5] - Total loans reached $1.6 billion, marking a 4.71% increase compared to Q3 2025[5] - Total loans amounted to $1,483,112 thousand for the year ended December 31, 2025[11] - Total assets as of December 31, 2025, reached $1,820,194 thousand, up from $1,722,613 thousand in 2024[11] Deposits and Funding Sources - Total deposits increased to $1.7 billion, up 12.19% from $1.5 billion in 2024[7] - Noninterest-bearing deposits decreased to $317,743 thousand in 2025 from $381,660 thousand in 2024, indicating a shift in funding sources[11] Interest Income and Margins - The Company maintained a strong net interest margin, with net interest income of $22.3 million for Q4 2025[9] - For the three months ended December 31, 2025, net interest income was $22,265 thousand, resulting in a net interest margin of 4.76%[10] - The average yield on total loans for the year 2025 was 7.92%, compared to 8.56% in 2024, indicating a decrease in loan yield[11] - The net interest spread for the year 2025 was 3.99%, compared to 3.81% in 2024, reflecting improved efficiency in interest income generation[11] Strategic Plans and Operations - The company plans to grow organically by selectively opening additional branches in target markets and pursuing strategic acquisitions[12] - The company operates twelve locations across Oklahoma, Dallas/Fort Worth, Texas, and Kansas, focusing on business owners and entrepreneurs[12] Future Outlook - Forward-looking statements indicate potential uncertainties related to interest rates and economic conditions that may impact future performance[14] - The conference call to discuss fourth quarter results is scheduled for January 15, 2026, at 9:00 a.m. CST[13]

Financial Performance - Q4 2025 net income was $30 million, with adjusted EBITDA of $170 million, representing a 14.6% year-on-year increase[5]. - Q4 2025 adjusted EBITDA margin was 19.0%, up 290 basis points year-on-year, driven by pricing and raw material cost actions[9]. - FY 2025 net revenue was $3.47 billion, down 2.7% year-on-year; adjusting for the flooring divestiture, net revenue was up 1.8% year-on-year[5]. - Adjusted EPS for Q4 2025 was $1.28, up 39.1% year-on-year, attributed to higher operating income and lower shares outstanding[8]. - Net income attributable to H.B. Fuller for the three months ended November 29, 2025, was $29.7 million, compared to a net loss of $7.4 million in the same period of 2024[22]. - For the year ended November 29, 2025, net revenue was $3.47 billion, down 2.7% from $3.57 billion in 2024[24]. - Adjusted net income attributable to H.B. Fuller for the year ended November 29, 2025, was $70.6 million, compared to $52.0 million in 2024[26]. - Net income attributable to H.B. Fuller for the year ended November 29, 2025, was $151.967 million, with an adjusted net income of $234.608 million[47]. - The company reported a net income attributable to the company of $51.264 million for the three months ended November 30, 2025, compared to $55.361 million for the same period in 2024, reflecting a decrease of approximately 3.9%[59]. Revenue and Growth - Fiscal 2026 net revenue is expected to be flat to up 2%, with organic revenue anticipated to be approximately flat versus fiscal 2025[16]. - Total net revenue for H.B. Fuller in the three months ended November 29, 2025, was $894.8 million, a decrease of 3.9% compared to $923.3 million in the same period of the previous year[37]. - The company experienced a total net revenue decline of 3.1% for the three months ended November 29, 2025, with organic growth declining by 1.3%[53]. - The Hygiene, Health and Consumable Adhesives segment reported a net revenue growth of 0.3% for the year ended November 29, 2025, while Engineering Adhesives grew by 5.2%[55]. - The Building Adhesive Solutions segment faced a decline of 3.3% in net revenue for the year ended November 29, 2025[57]. EBITDA and Margins - Adjusted EBITDA for fiscal 2026 is projected to be in the range of $630 million to $660 million[16]. - Adjusted EBITDA for the three months ended November 29, 2025, was $170.1 million, representing a margin of 19.0%[26]. - The adjusted EBITDA margin improved to 19.0% in Q4 2025, compared to 16.1% in Q4 2024[37]. - Adjusted EBITDA for the year was $620.660 million, with an adjusted EBITDA margin of 17.9%[47]. - The adjusted EBITDA margin for the three months was 19.0%, indicating strong operational efficiency[47]. Expenses and Costs - Selling, general and administrative expenses for the three months ended November 29, 2025, were $183.6 million, accounting for 20.5% of net revenue[22]. - Interest expense for the year ended November 29, 2025, was $133.3 million, slightly up from $133.1 million in 2024[24]. - Selling, general and administrative expenses for the three months ended November 29, 2025, were $183.6 million, a slight decrease from $188.5 million in the same quarter last year[45]. - Acquisition project costs for the year amounted to $15.412 million, reflecting ongoing strategic investments[47]. - Organizational realignment costs totaled $31.424 million, aimed at enhancing operational effectiveness[47]. Debt and Cash Flow - Net debt at the end of Q4 2025 was $1,910 million, down $48 million sequentially and up $68 million year-on-year[12]. - Operating cash flow for fiscal year 2026 is expected to be between $275 million and $300 million[16]. - Total debt as of November 30, 2025, was $2.180 billion, with a net debt of $2.074 billion after accounting for cash and cash equivalents of $105.743 million[64]. - The net debt-to-adjusted EBITDA ratio improved to 3.5 as of November 30, 2025, compared to 3.3 in the previous quarter, indicating better leverage management[64]. - Net cash provided by operating activities decreased to $263,493 million in 2025 from $302,437 million in 2024, a decline of about 13%[70]. Strategic Initiatives - H.B. Fuller continues to focus on market expansion and product innovation as part of its strategic initiatives[47]. - The company is focused on strategic initiatives including acquisitions and organizational realignment to enhance operational efficiency and market presence[59].

Financial Performance - Goldman Sachs reported net revenues of $58.28 billion for 2025, a 9% increase compared to 2024[5] - Net earnings for 2025 were $17.18 billion, with diluted earnings per share (EPS) of $51.32, up from $40.54 in 2024[3] - Total net revenues for 2025 were $58.283 billion, representing a 9% increase from $53.512 billion in 2024[44] - Net earnings applicable to common shareholders rose by 21% to $16.300 billion in 2025, compared to $13.525 billion in 2024[48] - The firm reported a 68% increase in net interest income, reaching $13.559 billion in 2025, compared to $8.056 billion in 2024[48] Revenue Breakdown - Investment banking fees for 2025 reached $9.34 billion, a 21% increase compared to 2024, driven by higher advisory revenues[11] - Investment banking fees increased by 21% to $9.339 billion in 2025, up from $7.732 billion in 2024[44] - Net revenues in Global Banking & Markets for 2025 were $41.45 billion, an 18% increase from 2024[10] - The Americas accounted for 63% of total net revenues in 2025, with revenues of $36.548 billion, up from $34.448 billion in 2024[45] Operating Expenses - Operating expenses for 2025 were $37.54 billion, an 11% increase from 2024, with an efficiency ratio of 64.4%[30] - Total operating expenses increased by 3% to $9.722 billion compared to Q3 2025, driven by higher compensation and benefits expenses[50] Shareholder Returns - Goldman Sachs declared a quarterly dividend of $4.50 per common share, effective in Q1 2026[1] - The quarterly dividend was increased to $4.50 per common share from $4.00, with a total capital return of $16.78 billion to common shareholders in 2025, including $12.36 billion in share repurchases and $4.42 billion in dividends[37] - The firm returned $4.24 billion to common shareholders in Q4 2025, including $3.00 billion in share repurchases[37] Credit Losses and Provisions - Provision for credit losses for 2025 was a net benefit of $1.11 billion, compared to net provisions of $1.35 billion in 2024[28] - The firm reported a provision for credit losses of $(2.123) billion, indicating a significant change from the previous quarter[50] Asset Management - Total assets under supervision (AUS) reached $3.606 billion, up from $3.452 billion in Q3 2025, with net inflows of $116 million in Q4 2025[56] Tax and Capital Ratios - The effective income tax rate for 2025 was 21.4%, down from 22.4% in 2024[36] - Common equity tier 1 capital ratio was 14.4% as of December 31, 2025, compared to 14.3% in Q3 2025[54] Market Performance - For Q4 2025, net revenues were $13.45 billion, a 3% decrease from Q4 2024 and an 11% decrease from Q3 2025[8] - Total net revenues for Q4 2025 were $13.454 billion, a decrease of 11% from Q3 2025 and an increase of 4% from Q4 2024[50] - Net earnings applicable to common shareholders increased by 14% year-over-year to $4.384 billion, compared to $3.860 billion in Q3 2025[50] - Investment management revenues rose by 8% to $3.201 billion compared to Q3 2025, while investment banking revenues decreased by 3% to $2.579 billion[50] Share Count - The average common shares outstanding decreased by 5% to 312.7 million in 2025 from 328.1 million in 2024[48]

Merger Agreement - Boston Scientific Corporation and Penumbra, Inc. have agreed to a merger, with Penumbra continuing as the surviving corporation and a wholly owned subsidiary of Boston Scientific[27]. - The merger is subject to the conditions set forth in Article VII and will become effective upon the filing of a certificate of merger with the Secretary of State of Delaware[31][33]. - Upon completion of the merger, all outstanding shares of Penumbra common stock will be converted into the right to receive the merger consideration, as specified in the agreement[29]. - The merger closing is scheduled to occur five business days after the satisfaction of all conditions, unless otherwise agreed in writing[32]. - The initial directors and officers of the surviving corporation will be those of Merger Sub immediately prior to the effective time, unless otherwise designated by Boston Scientific[37]. - The Amended and Restated Certificate of Incorporation of Penumbra will be amended and restated to conform to the bylaws of Merger Sub[35][36]. - The merger is expected to enhance Boston Scientific's portfolio and market position in the medical device industry[27]. - The agreement includes provisions for the conduct of business by both parties pending the merger[15]. - The merger is anticipated to create synergies and expand market reach for both companies[27]. - The board of directors of both companies has unanimously approved the merger agreement, deeming it in the best interests of their respective stockholders[29]. Share Consideration - Each share of Company Common Stock will be converted into either 3.8721 Parent Shares or $374.00 in cash, depending on the holder's election[42]. - 73.26% of the total shares will be entitled to receive cash consideration, while 26.74% will receive stock consideration[46]. - The Exchange Fund will include cash sufficient to pay the aggregate cash consideration required for the transaction[57]. - The Exchange Agent will manage the Exchange Fund and ensure it is maintained at a sufficient level for payments[58]. - Holders must submit an Election Form by the Election Deadline to specify their choice between cash or stock[49]. - If the number of Cash Elections exceeds the Maximum Cash Share Number, Stock Election Shares will be converted to Stock Consideration[47]. - The Exchange Agent will determine the allocation of Cash and Stock Consideration based on the elections made by shareholders[47]. - Any shares not properly elected by the Election Deadline will be deemed Non-Election Shares[52]. - The Company and Parent will comply with SEC regulations regarding the solicitation of elections[56]. - The Exchange Agent will invest cash in obligations guaranteed by the U.S. government[58]. - The Exchange Agent will mail a letter of transmittal and instructions for surrendering Certificates within three business days after the Effective Time[59]. - Holders of Certificates will receive the Merger Consideration and any dividends for each Share represented by the surrendered Certificates[59]. - No fractional shares will be issued; instead, cash will be provided for fractional interests, calculated based on the Parent Stock Price[63]. - The Exchange Fund will hold any undistributed portion for at least twelve months after the Effective Time[62]. - Each Company Option with an exercise price below the Equity Award Consideration Value will be converted into cash and stock consideration[69]. - Accelerated RSUs will vest and convert into the right to receive Equity Award Consideration at the Effective Time[72]. - The share transfer books will be closed at the Effective Time, ceasing further registration of transfers[68]. - No interest will accrue on any cash payable to holders of Certificates or Book-Entry Shares[60]. - The Surviving Corporation will remit any withholding amounts to the appropriate Governmental Authority[64]. - Holders of Book-Entry Shares will automatically receive the Merger Consideration without needing to deliver a Certificate[59]. Corporate Structure and Compliance - The Company has 39,229,670 Shares issued and outstanding as of January 12, 2026, all of which are fully paid and nonassessable[87]. - The authorized share capital consists of 300,000,000 shares of common stock and 5,000,000 shares of preferred stock[86]. - 6,067,836 Shares are reserved for future issuance in connection with the Company Stock Plans, excluding the Company ESPP[88]. - 591,124 Shares are reserved for future issuance under the Company ESPP[88]. - The Company has not issued any Shares, Company Options, or Company RSUs since the Capitalization Date[89]. - No Shares were held in the treasury of the Company as of the Capitalization Date[87]. - The Company is not in violation of any provisions of its Charter or Bylaws[84]. - The Company has all necessary corporate power and authority to execute and deliver the Agreement and perform its obligations[95]. - The Company Board will adopt necessary resolutions prior to the Effective Time to effect the transactions contemplated[77]. - The Merger Consideration will be adjusted if there are changes in the outstanding Shares or Parent Shares prior to the Effective Time[78]. Financial Reporting and Compliance - The Company has timely filed all required documents with the SEC under the Securities Act and the Exchange Act since January 1, 2024[102]. - Each consolidated financial statement in the Company SEC Reports was prepared in accordance with GAAP and fairly presents the Company's financial position as of the respective dates[103]. - The Company maintains a system of internal controls over financial reporting designed to provide reasonable assurances regarding the reliability of financial reporting[104]. - The Company has no undisclosed liabilities that need to be reflected on its balance sheet as of December 31, 2024[107]. - The Company has been in compliance with the Sarbanes-Oxley Act and applicable NYSE rules since January 1, 2024[108]. - There are no material outstanding comments from the SEC regarding the Company SEC Reports, nor any ongoing SEC reviews[109]. - Since December 31, 2024, there has not been a Company Material Adverse Effect[110]. Regulatory Compliance and Permits - The Company Group is in possession of all necessary permits and licenses required to operate its business[99]. - The Company has not received any written notice from a Governmental Authority alleging failure to hold any Company Permits[100]. - No member of the Company Group is currently in conflict with any Company Permit or has been in violation of any applicable laws since January 1, 2024[101]. - Each Plan intended to be qualified under Section 401(a) of the Code is so qualified, and nothing has occurred that would adversely affect its status[116]. - The Company has timely filed all required income and other material Tax Returns and has paid all material Taxes required, except those contested in good faith[132]. - There are no pending audits or investigations regarding material Taxes of any member of the Company Group[134]. - The Company has good and valid fee title to each parcel of Owned Real Property, free and clear of all Liens and defects in title[128]. - The Company and its Subsidiaries are in compliance with all Laws relating to the employment of labor, including wages and discrimination[124]. - There are no unfair labor practice complaints pending against the Company or any Subsidiary[123]. - The Company has not effectuated a "plant closing" or "mass layoff" in the past year[123]. - Each Company Lease is valid, binding, and enforceable, with no defaults reported[130]. - The Company has valid ownership interests in all tangible personal property reflected in the Latest Balance Sheet[131]. - No member of the Company Group has participated in any "listed transaction" within the past five years[139]. Business Operations and Insurance - The company has customer contracts with expected annual revenues exceeding $5,000,000 for the twelve-month period ending December 31, 2025[142]. - The company maintains insurance policies against all risks, including cybersecurity and product liability, with reputable carriers[145]. - The company is in compliance with all applicable Environmental Laws and possesses all necessary permits related to pollution and health safety[147]. - The company has not received any claims or notices alleging violations of Environmental Laws since January 1, 2024[147]. Intellectual Property - The company has a complete list of Registered Owned Intellectual Property, indicating status and jurisdiction[150]. - The company’s Intellectual Property is valid, enforceable, and does not conflict with third-party rights[151]. - The company has not received any written claims regarding breaches of its Intellectual Property rights in the past six years[151]. - The company is the exclusive owner of its Owned Intellectual Property, free of liens[153]. - The company has complied with all applicable notice and marking requirements for its Registered Intellectual Property[157]. - The company has not faced any actions challenging the validity or enforceability of its Intellectual Property[155]. Data Security and Privacy - The Company has maintained compliance with all privacy and information security obligations since January 1, 2024, including the Payment Card Industry Data Security Standard[164]. - There has been no unauthorized use or disclosure of Personally Identifiable Information collected by the Company or any Company Subsidiary[165]. - The Company has taken all commercially reasonable steps to maintain the confidentiality of trade secrets and confidential information[159]. - The Company and its Subsidiaries have not participated in any standards-setting activities that would affect the proprietary nature of any Company Intellectual Property[158]. - The Company has not received any written notices or complaints regarding failures to comply with Data Security Requirements[164]. - The Systems used by the Company are maintained in good working condition and are free from unauthorized access or security breaches[166]. Anti-Corruption Compliance - The Company has conducted its business in compliance with Anti-Corruption Laws and has retained accurate books and records[169]. - Since January 1, 2024, the Company has not received any inquiries or allegations concerning violations related to Anti-Corruption Laws[173]. Product Compliance - The Company Products are in material compliance with all applicable Device Regulatory Laws administered by the FDA[174]. - All preclinical and clinical investigations sponsored by the Company have been conducted in compliance with applicable laws, including Good Clinical Practices[176]. - Since January 1, 2024, all manufacturing operations for the Company Products have been conducted in compliance with QSR and FDA requirements[179]. - No material violations or adverse inspection findings have been reported by the FDA or other governmental authorities regarding the Company Products[180]. Parent Company Information - As of January 12, 2026, 1,483,019,808 Parent Shares were issued and outstanding, with 263,290,352 shares held in treasury[199]. - The authorized share capital of Parent consists of 2,000,000,000 shares of common stock and 50,000,000 shares of preferred stock[198]. - There are no outstanding obligations to repurchase or redeem any Equity Interests of any member of the Parent Group[200]. - The Company Board unanimously determined that the Merger and related transactions are advisable and in the best interests of the Company and its stockholders[188]. - The Company has received a financial opinion from Perella Weinberg Partners LP stating that the Merger Consideration is fair from a financial point of view[192]. - No member of the Company Group has been engaged in conduct that would lead to suspension or exclusion from government contracts[183]. - All Company Products have been manufactured and marketed in conformity with applicable laws and warranties since January 1, 2024[186]. - There are no existing or threatened claims against the Company Group related to defective products or services[186].

In US dollars, fourth quarter revenue was $33.73 billion, which increased 25.5% year-over-year and increased 1.9% from the previous quarter. Gross margin for the quarter was 62.3%, operating margin was 54.0%, and net profit margin was 48.3%. In the fourth quarter, shipments of 3-nanometer accounted for 28% of total wafer revenue; 5-nanometer accounted for 35%; 7-nanometer accounted for 14%. Advanced technologies, defined as 7-nanometer and more advanced technologies, accounted for 77% of total wafer revenue ...

Financial Performance - Full year 2025 net income available to common shareholders (NIAC) increased 29% to $956 million, or $1.87 EPS, compared to $738 million, or $1.36 EPS in 2024[1] - Fourth quarter 2025 NIAC was $257 million, or $0.52 EPS, a 1% increase from $254 million, or $0.50 EPS in the third quarter 2025[3] - Adjusted net income rose by 13% to $1,008 million compared to $891 million in the previous year[15] - Earnings per share (EPS) increased by 38% to $1.87 from $1.36[15] - Net income attributable to common shareholders increased by 29% to $956 million from $738 million[15] - The company returned $894 million of capital to shareholders in 2025 through share repurchases at an average price of $21.16 per share[13] - The company achieved a net income of $266 million in Q4 2025, representing a 57% increase year-over-year[38] - Earnings per share (EPS) for Q4 2025 was $0.52, a 73% increase compared to $0.30 in Q4 2024[38] Revenue and Income - Total revenue for 2025 was $3.42 billion, a 7% increase from $3.19 billion in 2024[38] - Noninterest income for 2025 was $797 million, an increase of $118 million, driven by fixed income revenue growth of $18 million and mortgage banking revenue improvement of $8 million[8] - Total revenue (FTE) for Q4 2025 was $892 million, an 8% increase from Q4 2024, with total revenue for 2025 reaching $3,434 million, up 4% from 2024[41] - Adjusted total noninterest income in Q4 2025 was $212 million, a 12% increase year-over-year, with total noninterest income for 2025 reaching $797 million, up 3% from 2024[41] Interest Income and Expenses - Net interest income (FTE) for 2025 was $2.6 billion, up $110 million, or 4%, with a net interest margin improvement to 3.47%, an increase of 12 basis points from the prior year[7] - Interest income decreased to $4,200 million from $4,367 million, a decline of 4%[15] - Interest expense for Q4 2025 was $375 million, a decrease of 7% compared to Q4 2024[55] - The cost of total deposits was 1.92% in Q4 2025, down 19 basis points from Q3 2025[55] Asset and Loan Growth - Average loan and lease balances increased by $0.6 billion to $62.6 billion, with period-end loans and leases at $64.2 billion, up $1.6 billion from the previous year[10] - Total assets increased by $684 million (1%) from Q3 2025 to $83,876 million, and by $1,725 million (2%) compared to Q4 2024[51] - Loans and leases, net of unearned income rose by $1,098 million (2%) quarter-over-quarter, reaching $64,156 million, and increased by $1,590 million (3%) year-over-year[51] - Average loans grew by 1% to $62.6 billion from $62.0 billion[15] Credit Quality and Losses - Provision for credit losses expense decreased to $65 million from $150 million in 2024, with net charge-offs consistent year-over-year at $120 million[12] - Net charge-offs increased to $120 million from $112 million, a rise of 7%[15] - The allowance for loan and lease losses decreased to $738 million in 4Q25, down 5% from $777 million in 3Q25 and down 9% from $815 million in 4Q24[62] - Total nonperforming loans and leases amounted to $604 million, showing no significant change from the previous quarter[57] Efficiency and Ratios - Efficiency ratio improved to 60.66% from 62.06%, a decrease of 140 basis points[15] - The CET1 ratio at year-end 2025 was 10.64%, down from 11.20% at the end of 2024, with total capital ratio at 13.4%[13] - The effective tax rate for 2025 was 22.1%, compared to 21.0% in 2024[14] - The adjusted efficiency ratio for Q4 2025 was 60.7%, slightly improved from 61.4% in Q4 2024[41] Segment Performance - Net income for the Wholesale segment was $35 million in 4Q25, down 10% from $39 million in 3Q25, but up 59% from $22 million in 4Q24[69] - The Corporate segment reported a net loss of $73 million in 4Q25, an improvement of 14% from a loss of $85 million in 3Q25[73] - Total revenue for the Wholesale segment reached $135 million in 4Q25, a slight increase of 1% compared to $134 million in 3Q25 and a 23% increase from $111 million in 4Q24[69] Deposits and Funding - Average deposits remained flat at $65.4 billion, while period-end deposits increased by 3% to $67.5 billion compared to year-end 2024[11] - Total deposits grew by $1,952 million (3%) from Q3 2025 to $67,477 million, and increased by $1,896 million (3%) compared to Q4 2024[51] - Noninterest-bearing deposits decreased by $200 million (1%) from Q3 2025 to $15,823 million, and by $198 million (1%) year-over-year[51]