Revenue Performance - The company expects product revenue to reach at least $10.5 million in fiscal year 2026, representing an increase of at least 17% compared to $9.1 million in fiscal year 2025[3]. - Product revenue for Q1 fiscal 2026 was $2.9 million, a slight decrease from $3.3 million in Q1 fiscal 2025, but a 5.5% increase from $2.7 million in Q4 fiscal 2025[10]. - Product revenue for Q4 2025 was $2,892,635, a decrease of 11.7% from $3,274,167 in Q4 2024[24]. - License revenue was $0 in Q4 2025, compared to $3,000,000 in Q4 2024[24]. Profitability and Loss - Product gross profit in Q1 fiscal 2026 was $1.6 million, or 54.2% of revenue, compared to $1.9 million, or 58.9% of revenue, in the same quarter of the prior year[11]. - Product gross profit decreased to $1,567,828 in Q4 2025 from $1,926,889 in Q4 2024, reflecting a decline of 18.6%[24]. - The net loss for Q1 fiscal 2026 was $1.4 million, or ($0.03) per share, compared to net income of $1.8 million, or $0.06 per share, in Q1 fiscal 2025[13]. - The company reported a net loss of $1,437,890 in Q4 2025, compared to a net income of $1,785,322 in Q4 2024[24]. - Basic and diluted net loss per share for Q4 2025 was $(0.03), down from $0.06 in Q4 2024[24]. Operating Expenses - Total operating expenses were $3.3 million in Q1 fiscal 2026, slightly up from $3.2 million in the same quarter of the prior year[12]. - Total operating expenses increased to $3,275,135 in Q4 2025 from $3,215,682 in Q4 2024, an increase of 1.9%[24]. - Research and development expenses rose to $1,389,680 in Q4 2025, up from $1,172,228 in Q4 2024, an increase of 18.5%[24]. - Selling, general and administrative expenses decreased to $1,885,455 in Q4 2025 from $2,043,454 in Q4 2024, a decrease of 7.7%[24]. Cash and Working Capital - The company had cash and cash equivalents of $3.6 million as of December 31, 2025, down from $6.6 million as of September 30, 2025[15]. - The company had no debt outstanding as of December 31, 2025, and working capital decreased to $6.8 million from $7.9 million as of September 30, 2025[15]. Product Development and Partnerships - The company successfully completed nine trigeminal neuralgia cases with all patients reportedly pain-free, following FDA 510(k) clearance for the OneRF Trigeminal Nerve Ablation System[3]. - The company is advancing discussions with potential tier-one strategic partners for multiple new products, including the Basivertebral Nerve Ablation System and percutaneous paddle lead for lower back pain[3]. - The company is on track to have its drug delivery system commercially available for investigational clinical studies or animal studies by Q3 fiscal 2026, ahead of schedule by six months[3].

Financial Performance - Fourth quarter 2025 net sales were $506.9 million, an increase of 4% compared to $485.7 million in the fourth quarter of 2024[2] - Full year 2025 net sales reached $2.1 billion, a 5% increase from $2.0 billion in 2024[3] - Fourth quarter 2025 operating income was $51.6 million, up 20% from $43.0 million in the same quarter of 2024[2] - Full year 2025 operating income was $269.0 million, a 10% increase compared to $243.6 million in 2024[3] - Total net sales for FY 2025 reached $2,131.3 million, reflecting a 5% increase from $2,021.3 million in FY 2024[25] - Operating income for the full year of 2025 was $268.9 million, with an operating margin of 12.6%, compared to $243.6 million and 12.1% in 2024[26] Earnings Per Share - GAAP diluted EPS for the fourth quarter 2025 was $0.87, a 21% increase from $0.72 in the fourth quarter of 2024[2] - Full year 2025 adjusted diluted EPS was $4.14, up $0.22 or 6% compared to $3.92 in 2024[3] - Diluted earnings per share (EPS) for Q4 2025 was $0.87, a 21% increase from $0.72 in Q4 2024[26] - Adjusted diluted EPS for FY 2025 was $4.14, a 6% increase from $3.92 in FY 2024[26] Cash Flow and Balance - Cash balance at the end of 2025 was $99.7 million, a decrease of $120.9 million from the end of 2024[10] - Net cash flows from operating activities for 2025 were $238.9 million, down from $261.4 million in 2024[10] - Cash and cash equivalents at the end of the period were $99.7 million, down from $220.5 million at the end of 2024[24] Other Significant Events - The company terminated its US Pension Plan, resulting in a pre-tax settlement charge of $54.9 million, impacting EPS by approximately $0.91 per share net of tax[6] - Net income for the twelve months ended December 31, 2025, was $148.7 million, a decrease of 18% from $181.6 million in 2024[24] - The company made acquisitions and investments totaling $114.7 million in FY 2025, a substantial increase from $5.2 million in FY 2024[24] - The company reported a significant increase in net sales in Europe, Middle East & Africa by 29% year-over-year for Q4 2025[25] - The company experienced a foreign currency translation impact of $5.2 million on net sales for Q4 2025[25] Future Guidance - The company expects full year 2026 sales guidance to be between $2.17 billion and $2.24 billion[11]

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 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 . Commission File Number: 001-35907 IQVIA HOLDINGS INC. (Exact name of registrant as specified in its charter) Delaware 27-1341991 (State or other jurisdiction ...

Financial Performance - Energy Transfer reported net income attributable to partners of $928 million for Q4 2025, down from $1.08 billion in Q4 2024[2]. - Adjusted EBITDA for Q4 2025 was $4.18 billion, an increase of 8% compared to $3.88 billion in Q4 2024[3]. - Distributable Cash Flow attributable to partners for Q4 2025 was $2.04 billion, up from $1.98 billion in the same period last year[3]. - Revenues for Q4 2025 reached $25,320 million, a 29.1% increase from $19,541 million in Q4 2024[21]. - Operating income for the year ended December 31, 2025, was $9,027 million, slightly down from $9,138 million in 2024, reflecting a decrease of 1.2%[21]. - Adjusted EBITDA for the year ended December 31, 2025, was $15,984 million, an increase of 3.2% from $15,483 million in 2024[23]. - Distributable Cash Flow (consolidated) for Q4 2025 was $2,681 million, up 4.6% from $2,563 million in Q4 2024[23]. - The company reported a basic net income per common unit of $0.25 for Q4 2025, down from $0.29 in Q4 2024[21]. - Distributions to partners for the year ended December 31, 2025, totaled $4,555 million, an increase from $4,388 million in 2024[23]. Capital Expenditures and Investments - The Partnership plans to invest $5.0 billion to $5.5 billion in growth capital for 2026, focusing on enhancing its natural gas network[13]. - Construction is underway on the Mustang Draw II processing plant, expected to be in service in Q4 2026, with a capacity of 275 MMcf/d[6]. - The FGT Phase IX Project is expected to cost up to $535 million and is anticipated to be in service in Q4 2028[6]. Asset and Revenue Growth - Energy Transfer's total assets increased to $141.286 billion as of December 31, 2025, up from $125.380 billion in 2024[19]. - Common Units outstanding at the end of Q4 2025 were 3,440.0 million, compared to 3,431.1 million in Q4 2024[23]. - Total revenues for the "All Other" segment increased to $1,055 million in Q4 2025, compared to $607 million in Q4 2024, with a segment margin of $33 million[52]. Segment Performance - Intrastate transportation and storage segment Adjusted EBITDA increased to $355 million, up 35% from $263 million year-over-year, driven by higher realized natural gas sales and transportation fees[38][39]. - Interstate transportation and storage segment Adjusted EBITDA rose to $523 million, a 6.1% increase from $493 million, attributed to higher transportation revenue and increased utilization[40][41]. - Midstream segment Adjusted EBITDA was $720 million, slightly up from $705 million, supported by increased gathered volumes in the Permian region[42][43]. - NGL and refined products transportation and services segment Adjusted EBITDA decreased to $1,078 million from $1,108 million, primarily due to a $100 million drop in marketing margin[44][45]. - Crude oil transportation and services segment Adjusted EBITDA fell to $722 million from $760 million, impacted by decreased transportation revenue from the Bakken Pipeline joint venture[46][47]. - Segment Adjusted EBITDA related to the investment in Sunoco LP increased to $646 million for the three months ended December 31, 2025, compared to $439 million in the same period last year, reflecting a significant growth[48]. - Revenues from the investment in USAC rose to $252 million in Q4 2025, up from $245 million in Q4 2024, driven by a $9 million increase in contract operations revenues[49]. - Adjusted EBITDA related to unconsolidated affiliates increased to $184 million in Q4 2025, compared to $170 million in Q4 2024, with notable contributions from Citrus and MEP[56]. Cost and Expense Management - Total costs and expenses for Q4 2025 were $23,244 million, a 34.6% increase from $17,262 million in Q4 2024[21]. - Interest expense for the year ended December 31, 2025, was $3,474 million, an increase of 11.2% from $3,125 million in 2024[21]. - Operating expenses increased by $185 million primarily due to costs associated with Parkland's operations, impacting overall profitability[51]. - Selling, general and administrative expenses rose by $103 million, largely attributed to Parkland's operations and one-time transaction-related expenses[51]. Future Outlook - Energy Transfer expects 2026 Adjusted EBITDA to range between $17.45 billion and $17.85 billion, an increase from the previous estimate of $17.3 billion to $17.7 billion[13]. - The company anticipates recognizing significant gains in the first quarter of 2026 due to the timing of NGL and refined product inventory hedge settlements[45].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 27, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM _____ TO _____ Commission file number 001-39609 Hillman Solutions Corp. (Exact name of registrant as specified in its charter) Delaware 85-2096734 Securities registered pursuant ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): February 17, 2026 M3-Brigade Acquisition V Corp. (Exact name of registrant as specified in its charter) 1700 Broadway, 19th Floor, New York, New York 10019 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (212) 202-2200 Cayman Islands (Stat ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): February 17, 2026 M3-Brigade Acquisition V Corp. (Exact name of registrant as specified in its charter) Cayman Islands (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.) 1700 Broadway, 19th Floor, New York, New York 10019 (Address of princi ...

Midpoint of 2026 Net Sales guidance reflects an increase of 6.3% versus 2025 Fourth Quarter 2025 Highlights (Thirteen Weeks Ended December 27, 2025) Full Year 2025 Highlights (Fifty-Two Weeks Ended December 27, 2025) Balance Sheet and Liquidity at December 27, 2025 Hillman Reports Fourth Quarter and Record Full Year 2025 Results; Provides 2026 Guidance Full Year 2025 Net Sales increased 5.4% to a record $1.55 billion CINCINNATI, February 17, 2026 -- Hillman Solutions Corp. (Nasdaq: HLMN) (the "Company" or " ...

Exhibit 99.1 Watsco Reports Record Full-Year Gross Margin, Meets Inventory Reduction Target and Generates Record 4th Quarter Cash Flow in Challenging Market Conditions ______________________ Boosts Annual Dividend 10% to $13.20 Per Share Entrepreneurial Culture, Transformational Technologies and Debt-Free Balance Sheet Positions Company for Growth MIAMI, FLORIDA – (GLOBENEWSWIRE), February 17, 2026 – Watsco, Inc. (NYSE: WSO) announced its operating results for the full-year and fourth quarter period ended D ...

Financial Performance - Watsco reported full-year revenues of $7.2 billion for 2025, a 52% increase from $4.8 billion in 2019, with a compound annual growth rate (CAGR) of 7%[9] - The company's operating income for 2025 was $720 million, up 96% from $367 million in 2019, reflecting a CAGR of 12%[9] - Watsco's earnings per share (EPS) for 2025 were $12.25, compared to $6.50 in 2019, marking an 88% increase[9] - Revenues for Q4 2025 were $1,578,757, a decrease of 9.9% from $1,753,962 in Q4 2024[25] - Net income attributable to Watsco, Inc. was $71,745 in Q4 2025, down from $96,841 in Q4 2024, representing a decline of 26.0%[25] - The diluted earnings per share for 2025 was $12.25, down from $13.30 in 2024, a decrease of 7.9%[25] Profitability and Margins - Gross margin improved to a record 28.0%, an increase of 370 basis points from 24.3%[9] - Gross profit margin improved to 27.1% in Q4 2025 from 26.7% in Q4 2024[25] Cash Flow and Assets - Operating cash flow for 2025 was $570 million, with a record $400 million in the fourth quarter, reflecting a sharp reduction in inventory[17] - Net cash provided by operating activities was $569,613 in 2025, down from $773,102 in 2024, a decrease of 26.4%[29] - Cash and cash equivalents at the end of 2025 were $433,283, down from $526,271 at the end of 2024, a decrease of 17.7%[29] - Total current assets decreased to $2,954,506 in 2025 from $3,079,981 in 2024, a reduction of 4.1%[28] - Total liabilities decreased to $1,192,744 in 2025 from $1,415,285 in 2024, a decline of 16.0%[28] Investments and Acquisitions - The company maintained a debt-free balance sheet with $780 million in cash and investments, allowing for sustained growth investments[6] - Watsco acquired three distributors in key markets during 2025, contributing to a total of 12 acquisitions since 2019, representing approximately $1.6 billion in annualized sales[19] - Business acquisitions net of cash acquired amounted to $19,198 in 2025, compared to $5,173 in 2024, indicating increased investment in growth[29] E-commerce and User Engagement - Watsco's e-commerce sales reached approximately $2.5 billion in 2025, accounting for 35% of overall sales, with some regions exceeding 60% e-commerce penetration[20] - The authenticated user community of Watsco's HVAC Pro+ Mobile Apps increased by 15% to approximately 73,000 users[20] Future Outlook - Watsco plans to continue optimizing inventory and improving operating efficiency as it anticipates a more conventional industry environment in 2026[10] Dividends - Dividends on common stock increased to $473,765 in 2025 from $423,521 in 2024, an increase of 11.9%[29]