Company Overview - As of December 31, 2025, Capital One Financial Corporation was the largest issuer of credit cards in the U.S. based on outstanding credit card loan balances [16]. - Capital One had approximately 76,300 employees worldwide as of December 31, 2025, focusing on recruitment, development, and retention strategies [124]. Acquisitions and Mergers - The acquisition of Discover Financial Services was completed on May 18, 2025, with a purchase consideration of $51.8 billion and total identifiable assets acquired valued at $168.6 billion [23]. - Capital One plans to acquire Brex Inc. for $5.15 billion, consisting of approximately $2.58 billion in cash and about 10.6 million shares of common stock [26]. - The Global Payment Network, acquired through the Discover merger, enhances Capital One's transaction processing capabilities and customer base [21]. Financial Performance - Capital One's consolidated total net revenues are primarily derived from lending activities, with significant contributions from non-interest income such as discount and interchange income [30]. - The Credit Card segment includes domestic consumer card lending and international card businesses in the U.K. and Canada [36]. - The Consumer Banking segment encompasses deposit gathering and lending activities for consumers and small businesses, including auto lending [36]. Regulatory Compliance - Capital One's operations are subject to extensive regulation and supervision by U.S. federal and state laws, impacting its business and organizational structure [42]. - The Company is classified as a Category III institution under the Basel III Capital Rules, with total consolidated assets between $250 billion and $700 billion [52]. - The minimum common equity Tier 1 (CET1) capital ratio required is 4.5%, with a Tier 1 capital ratio of 6.0% and a total capital ratio of 8.0% [54]. - The Company's stress capital buffer requirement is set at 4.5% for the period from October 1, 2025, to September 30, 2026 [59]. - The Bank's minimum capital requirements, including its capital conservation buffer, are 7.0% for CET1 capital, 8.5% for Tier 1 capital, and 10.5% for total capital ratios [60]. - The Federal Reserve's capital plan rule requires the Company to submit a capital plan annually, detailing planned capital actions over a nine-quarter horizon [74]. - The Company is subject to supervisory stress testing requirements, including the Dodd-Frank Act stress tests, to assess capital sufficiency during adverse economic conditions [77]. - The Basel III Finalization Proposal, released in July 2023, aims to revise capital rules for institutions with total assets of $100 billion or more [66]. - The Market Risk Rule requires adjustments to risk-based capital ratios to reflect market risk in the trading book, applicable to institutions with trading assets and liabilities equal to 10% or more of total assets or $1 billion or more [65]. - The capital conservation buffer for the Bank is fixed at 2.5%, with a countercyclical capital buffer currently set at 0% [60]. - The Company is not classified as a Global Systemically Important Bank (G-SIB) and therefore is not subject to the G-SIB Surcharge [56]. - The Company and the Bank are required to maintain a liquidity coverage ratio (LCR) of at least 100% of projected adjusted net cash outflows over a 30-day period [82]. - As a Category III institution, the Company and the Bank's total net cash outflows are adjusted by an outflow percentage of 85% [83]. - The net stable funding ratio (NSFR) requires the Company and the Bank to maintain available stable funding of at least 85% of their required stable funding [84]. - The Company is subject to minimum liquidity standards set by the Federal Reserve and OCC, including conducting internal liquidity stress tests [85]. - The FDIC has finalized a rule to implement a special assessment to recover losses to the Deposit Insurance Fund (DIF) due to the protection of uninsured depositors, with a quarterly rate of 3.36 basis points starting in Q2 2024 [98]. - The Company is required to submit a resolution plan every three years to the Federal Reserve and FDIC, with the next full submission due by July 1, 2026 [89]. - The Federal Banking Agencies proposed a rule requiring the Company to maintain a minimum outstanding eligible long-term debt amount of no less than 6% of total risk-weighted assets [92]. - The Company must comply with the Volcker Rule, which prohibits proprietary trading and certain investments in covered funds [104]. - The Bank's consumer lending activities are regulated under various federal laws, including the Truth in Lending Act and the Equal Credit Opportunity Act [106]. - The FDIC has established a plan to restore the DIF reserve ratio to meet or exceed 1.35% by September 30, 2028 [97]. - The Bank earns interchange fees from debit cards issued on networks not owned by the Company, subject to Regulation II, which limits fees for issuers with over $10 billion in assets [108]. - In 2023, the Federal Reserve proposed amendments to Regulation II that could lower the cap on debit interchange fees, potentially impacting revenue from four-party networks [109]. - The Bank is registered as a swap dealer with the CFTC, subjecting it to additional regulatory requirements regarding swaps and derivatives activities [121]. Risk Management - Capital One is facing risks related to the integration of the Discover transaction, which may incur substantial expenses and could take longer to realize anticipated benefits [139]. - The company is monitoring changes in the macroeconomic environment, including inflation, geopolitical conflicts, and potential recessions, which could impact its operations and results [139]. - Fluctuations in interest rates and their effect on funding and liquidity sources are critical factors for the company's financial health [139]. - The company is experiencing increases in credit losses and delinquencies, which may lead to inadequate reserves if expected losses are incorrectly estimated [139]. - Capital One is focused on maintaining adequate capital and liquidity levels to comply with revised requirements, which is essential for returning capital to stockholders [139]. - The company is addressing risks related to cyber-attacks and security incidents that could disrupt operations and damage reputation [139]. - Compliance with evolving domestic and foreign laws, particularly regarding privacy and data protection, remains a priority for the company [139]. Strategic Initiatives - The company is committed to executing its strategic initiatives and operational plans to enhance its market position [139]. - Capital One is adapting its operational and technological infrastructure to meet the demands of its business environment [139]. - The company is working to create a strong base of network licensees to achieve meaningful global card acceptance [139]. Technology and Innovation - The Company leverages technology, including cloud and AI, to improve operational efficiency and reduce costs [130]. - Capital One relies on third-party service providers, such as AWS and TSYS, for cloud infrastructure and credit card processing services [132]. - The Company is subject to evolving privacy and data protection laws, including the Gramm-Leach-Bliley Act and the California Consumer Privacy Act, which may increase compliance costs [113]. - The Bank must comply with the Bank Secrecy Act and the Anti-Money Laundering Act, which require implementing risk-based compliance programs to prevent money laundering [116]. - Climate change risks are a focus for regulatory bodies, and new laws or regulations may impact the Company's operations in the future [123].

Exhibit 99.1 iRhythm Holdings Announces Fourth Quarter and Full Year 2025 Financial Results SAN FRANCISCO, February 19, 2026 (GLOBE NEWSWIRE) -- iRhythm Holdings, Inc. (NASDAQ: IRTC), a leading digital health care company focused on creating trusted solutions that detect, predict, and prevent disease, today reported financial results for the three months and full year ended December 31, 2025. Fourth Quarter 2025 Financial Highlights Full Year 2025 Financial Highlights Fourth Quarter 2025 Financial Results R ...

Floor & Decor Holdings, Inc. Announces Fourth Quarter and Fiscal 2025 Financial Results Highlights for the Fourth Quarter of Fiscal 2025: Net sales of $1,129.7 million increased 2.0% from the fourth quarter of fiscal 2024 Comparable store sales decreased 4.8% Diluted EPS of $0.36 Opened eight new warehouse stores ATLANTA--(BUSINESS WIRE)--February 19, 2026--Floor & Decor Holdings, Inc. (NYSE: FND) ("We," "Our," the "Company," or "Floor & Decor") announces its financial results for the fourth quarter and ful ...

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 1-5684 W.W. Grainger, Inc. (Exact name of registrant as specified in its charter) Illinois 36-1150280 (State or other juri ...

Dropbox Announces Fourth Quarter and Fiscal 2025 Results Fourth Quarter GAAP Operating Margin of 25.5% and Non-GAAP Operating Margin of 38.2% Net Cash Provided by Operating Activities of $235.4 Million and Unlevered Free Cash Flow of $250.5 Million Revenue of $636.2 Million, down 1.1% year-over-year; excluding FormSwift, up 0.4% year-over-year Fiscal 2025 GAAP Operating Margin of 27.3% and Non-GAAP Operating Margin of 40.6% Net Cash Provided by Operating Activities of $951.8 Million and Unlevered Free Cash ...

Financial Performance - Gross premiums written decreased by 11% to $156.8 million for Q4 2025 compared to $176.3 million in Q4 2024[4] - Net premiums earned slightly decreased by 1% to $188.5 million for Q4 2025 from $190.2 million in Q4 2024, while annual net premiums earned increased by 2% to $761.9 million[4] - The company reported a net loss of $23.4 million in Q4 2025, a significant decline from a net income of $28.3 million in Q4 2024, representing a 183% decrease[4] - Adjusted net income for Q4 2025 was $14.5 million, down 49% from $28.7 million in Q4 2024[4] - Net income for the three months ended December 31, 2025, was a loss of $23.4 million, compared to a profit of $28.3 million in the same period of 2024[11] - Adjusted net income for the year ended December 31, 2025, was $21.8 million, down from $94.0 million in 2024[11] - Basic earnings per share (EPS) for Q4 2025 was $(1.06), compared to $1.14 in Q4 2024, indicating a significant decline[22] Investment Income - Net investment income increased by 18% to $31.4 million in Q4 2025, up from $26.7 million in Q4 2024, and annual net investment income rose by 9% to $116.7 million[4] - The company reported net realized and unrealized gains on investments of $49.7 million in Q4 2025, compared to $0.4 million in Q4 2024, indicating a significant improvement[22] Assets and Equity - Total assets decreased by 3% to $3,436.6 million as of December 31, 2025, compared to $3,541.3 million as of December 31, 2024[7] - Stockholders' equity fell by 11% to $955.7 million in 2025 from $1,068.7 million in 2024[7] - The average stockholders' equity for the year ended December 31, 2025, was $1,012.2 million, down from $1,041.3 million in 2024[11] - Stockholders' equity decreased to $955.7 million in 2025 from $1,068.7 million in 2024, a decline of approximately 10.5%[19] Underwriting Performance - The combined ratio excluding LPT increased to 106.8% in Q4 2025 from 95.5% in Q4 2024, indicating a decline in underwriting performance[4] - The GAAP combined ratio for the three months ended December 31, 2025, was 106.1%, compared to 95.5% in 2024, indicating a decline in underwriting performance[13] - The loss and LAE ratio for the three months ended December 31, 2025, was 71.3%, up from 59.5% in the same period of 2024[13] Shareholder Returns - Cash dividends declared per share increased by 7% to $0.32 in Q4 2025 from $0.30 in Q4 2024[4] - Cash dividends declared per share rose to $1.26 in 2025 from $1.18 in 2024, an increase of 6.8%[19] - The book value per share increased by 8% to $46.98 in 2025 from $43.52 in 2024[7] - Book value per share increased by 10.8% to $46.98 in 2025 from $43.52 in 2024[19] - Adjusted book value per share was $50.95 in 2025, slightly up from $50.71 in 2024, showing a modest increase[19] Share Count - Average common shares outstanding (basic) decreased to 21,922,345 in Q4 2025 from 24,725,425 in Q4 2024, a reduction of approximately 11.5%[22] Other Financial Metrics - Total investments and cash as of December 31, 2025, amounted to $2,498.8 million, a decrease from $2,532.4 million in 2024[17] - The weighted average ending book yield on fixed income securities, cash, and cash equivalents was 4.9% as of December 31, 2025, compared to 4.5% in 2024[17] - The impact of the LPT Agreement on net income was a loss of $1.4 million in Q4 2025, compared to a gain of $0.1 million in Q4 2024[22] - Net unpaid losses and LAE at the end of the period for December 31, 2025, were $1,419.3 million, unchanged from the previous year[15] - The company reported a return on stockholders' equity of (2.3)% for the three months ended December 31, 2025, compared to 2.6% in 2024[11]

Exhibit 99.1 Onto Innovation Reports 2025 Fourth Quarter and Full Year Results Wilmington, Mass., February 19, 2026 – Onto Innovation Inc. (NYSE: ONTO) ("Onto Innovation," "Onto," or the "Company") today announced financial results for the fourth quarter and full year 2025. Fourth Quarter and Full Year Business and Financial Highlights: "2025 concluded on a strong note for Onto Innovation, highlighted by record revenue for both the fourth quarter and the full year, the successful acquisition of select produ ...

Revenue Performance - Total revenue for the year ended December 31, 2025, was $1,607,095, a decrease from $1,712,802 in 2024 and an increase from $1,512,764 in 2023[18] - North and Latin America (NLA) segment revenue was $558,033, accounting for 34.7% of total revenue, while the Europe and Sub-Saharan Africa (ESSA) segment generated $486,900, representing 30.3%[18] - The Middle East and North Africa (MENA) segment revenue increased to $363,616, making up 22.6% of total revenue, while the Asia-Pacific (APAC) segment revenue decreased to $198,546, contributing 12.4%[18] - Revenue is primarily derived from services and product sales to customers in the oil and gas industry, with no single customer accounting for more than 10% of revenue for the year ended December 31, 2025[45] - One customer accounted for approximately 10.5% and 12.5% of revenue in the years ended December 31, 2024 and 2023, respectively[45] - Revenue for the year ended December 31, 2025 decreased by $105.7 million, or 6.2%, to $1,607.1 million compared to $1,712.8 million for the year ended December 31, 2024[190] - NLA revenue was $558.0 million for the year ended December 31, 2025, a decrease of $8.0 million, or 1.4%, compared to 2024[205] - ESSA revenue decreased to $486.9 million for the year ended December 31, 2025, down $77.5 million, or 13.7%, compared to 2024[207] - MENA revenue increased to $363.6 million for the year ended December 31, 2025, an increase of $31.4 million, or 9.5%, compared to 2024[209] - APAC revenue was $198.5 million for the year ended December 31, 2025, a decrease of $51.6 million, or 20.6%, compared to 2024[211] Safety Performance - The Lost Time Injury Frequency (LTIF) rate for 2025 was 0.00, down from 0.06 in 2023, indicating improved safety performance[38] - The Total Recordable Case Frequency (TRCF) rate decreased to 0.37 in 2025 from 0.61 in 2023, reflecting a significant reduction in workplace injuries[38] Corporate Strategy and Goals - The corporate strategy for 2026 focuses on exceeding industry safety expectations, advancing product offerings, and leveraging data for operational improvements[22] - Expro aims to achieve above-market revenue growth and strong profitability while maintaining a commitment to free cash flow generation[22] Workforce and Employment - The company has approximately 8,500 employees, with 20% under collective bargaining agreements, indicating a stable workforce[25] Product Innovations - New product innovations include CoilHose™, Octopoda™, and Galea™, aimed at enhancing well intervention and integrity services[23] Corporate Social Responsibility - Expro is committed to corporate social responsibility, engaging in community activities that align with its core values[35] Market and Economic Risks - The company reported a significant reliance on the oil and gas industry's activity levels, which are influenced by global economic conditions and geopolitical events, such as the ongoing Russian war in Ukraine[68] - Oil and gas prices are volatile and can impact customer demand for services and products, with potential reductions in capital spending during periods of low prices[68] - The company faces risks from political, economic, and social instability in the countries where it operates, which could adversely affect demand for its products and services[78] - The company is exposed to financial risks as shareholders may shift investments away from fossil fuel companies due to climate change concerns[55] - The consolidation of major customers in the industry may lead to reduced capital spending and decreased demand for the company's products and services[86] - The company may face challenges in maintaining sales levels if larger customers consolidate or experience financial difficulties, impacting liquidity and profitability[87] Regulatory and Compliance Risks - The company is subject to numerous stringent environmental and governmental regulations that could materially impact capital expenditures and financial position[49] - Climate change regulations are becoming more stringent, with the EU targeting a 55% reduction in net emissions by 2030 from 1990 levels, which could affect demand for oil and gas services[53] - The company is subject to varying sustainability reporting requirements, which may increase compliance costs and affect capital raising efforts[92] - Compliance with trade sanctions and embargoes poses risks, as failure to comply could result in criminal and civil penalties, including fines and loss of import/export privileges[111] - The company faces regulatory, political, and financial risks associated with greenhouse gas emissions, which could lead to increased operating costs and reduced demand for its services[112] - Data protection regulations may increase compliance costs, and failure to comply could result in fines and adversely affect the company's operations and reputation[113] - The company is subject to increasing regulatory enforcement in privacy and data protection, which could create compliance uncertainty and require changes in business practices[114] Financial Performance - Adjusted EBITDA for the year ended December 31, 2025 increased by $5.6 million, or 1.6%, to $353.0 million from $347.4 million for the year ended December 31, 2024[190] - Adjusted EBITDA margin increased to 22.0% during the year ended December 31, 2025, compared to 20.3% during the year ended December 31, 2024[190] - Net cash provided by operating activities was $210.2 million during the year ended December 31, 2025, an increase of $40.7 million from $169.5 million during the year ended December 31, 2024[190] Cybersecurity Risks - The Company faces ongoing cybersecurity risks that could materially affect its operations if realized[134] - The Company has implemented processes to assess and manage cybersecurity risks, including penetration testing and regular risk assessments[133] - The Chief Information Officer, with over 30 years of experience, oversees cybersecurity risk management, reporting to the Chief Financial Officer[134] - The Company has not identified any material risks from known cybersecurity threats in the last fiscal year[134] Stock and Shareholder Information - The market price of the company's common stock has been volatile, influenced by factors such as quarterly operating results and market conditions[116] - The company’s articles of association and Dutch corporate law may discourage takeover attempts, making it more difficult for third parties to acquire the company[122] - The company is authorized to issue common stock up to 20% of the issued share capital without further shareholder approval, which could affect the market price of its common stock[123] - The Board approved a stock repurchase program allowing the Company to acquire up to $100 million of its common stock from October 30, 2025, through December 31, 2026[144] - The Company repurchased approximately 3.7 million shares for a total cost of approximately $40.1 million during the year ended December 31, 2025[144] Global Operations - The Company operates in over 50 countries, maintaining several manufacturing and service facilities globally[135] - For the year ended December 31, 2025, approximately 81% of the company's revenue was generated outside of the United States, with 63% from offshore oil and gas operations[166] Market Trends and Projections - Global liquids demand grew by 1.2 million barrels per day year-on-year in 2025 and is expected to grow a further 1.1 million barrels per day in 2026[168] - North American drilling activity is projected to decline by 2% in 2026, with an average of 549 active rigs and around 15,300 wells completed[179] - European drilling activity is expected to increase by 1% in 2026, averaging 99 active rigs and accounting for approximately 780 new wells[180] - Offshore drilling in Central and South America is projected to grow by 11% in 2026, averaging 39 rigs and totaling about 225 new wells[179] - The EIA forecasts Brent crude oil prices to average approximately $56 per barrel for 2026, subject to geopolitical uncertainties[173] - The company anticipates continued demand for well intervention and production optimization services as operators focus on efficiency and cost reduction[177] - The market for energy services is significantly influenced by oil prices, affecting customer spending on exploration and production activities[171] - The company is well-positioned to support investment in strategic offshore developments and optimization of existing assets despite softer market conditions[178]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 For the fiscal year ended December 31, 2025 OR FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐ 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 1-12031 UNIVERSAL DISPLAY CORPORATION (Exact name of registrant as specified in its charter) | Pennsylvania | | ...

Cybersecurity Risks - The company has experienced significant cybersecurity risks, including breaches that could lead to unauthorized access to sensitive client data, potentially harming client relationships and incurring liabilities [117]. - The company relies on third-party relationships for data management, which poses additional cybersecurity risks, as past incidents have shown unauthorized access to client data through these vendors [118]. - The company has invested significantly in enhancing its cybersecurity measures, but ongoing threats from increasingly sophisticated cyber-attacks necessitate continuous investment in security controls [119]. Operational Risks - The company’s network infrastructure is critical for service delivery, and any damage or disruption could impair operations and harm its reputation, potentially leading to revenue loss [121]. - The company faces risks from potential defects in its applications, which could lead to significant costs and reputational damage if clients experience service interruptions [132]. - The company relies on in-house deployment personnel to implement and configure solutions, emphasizing the importance of client satisfaction to avoid additional costs and negative impacts on profitability [134]. - Third-party relationships are crucial for delivering services, and failures in these partnerships could negatively affect the company's reputation and operational capabilities [144]. Market Competition - The company must continuously innovate and enhance its applications to remain competitive, as failure to do so could adversely affect its market position and financial performance [123]. - The competitive landscape for HCM software is intense, with pressure from competitors offering lower prices and more integrated solutions, which could impact client retention and sales [126]. - Challenges in attracting larger clients include demand for customized features and longer sales cycles, which may limit market opportunities if not addressed [135]. Client Retention and Satisfaction - The company’s annual revenue retention rate is sensitive to client satisfaction and market conditions, with potential declines if clients reduce their use of applications or do not purchase additional services [130]. - The company’s ability to attract and retain clients is contingent on maintaining high service quality and addressing any performance issues promptly to avoid negative publicity [132]. Leadership and Talent Management - The company is dependent on key executives for leadership, and their loss could adversely affect operations and client relationships [136]. - Attracting and retaining qualified personnel, particularly in software development and IT, is critical for the company's growth and ability to enhance existing products [138]. - The company faces increased competition for talent due to new immigration laws, which could raise costs and hinder recruitment efforts [139]. Financial and Regulatory Risks - Significant growth in operations has created demands on management and resources, necessitating improvements in operational and financial controls [140]. - The company is expanding internationally, which involves regulatory, economic, and political risks that could impact business performance [143]. - The company may incur additional compliance costs due to increasing regulatory scrutiny on its automation initiatives, particularly AI-powered tools [152]. - Changes in laws and regulations could materially affect the company's business and operational costs, particularly regarding compliance with government regulations [160]. - The company is subject to various privacy and data protection laws, with non-compliance potentially leading to significant fines and reputational harm [164]. Financial Performance and Reporting - Financial results may fluctuate significantly due to various factors, including client acquisition, seasonal revenue patterns, and economic conditions [187]. - The company has historically experienced seasonality in revenues, particularly related to payroll tax filings, which positively impact first and fourth quarter revenues [188]. - The company must maintain effective internal control over financial reporting, as material weaknesses could lead to misstatements and loss of investor confidence [194]. - The company's actual operating results may differ significantly from guidance provided, which is based on projections subject to uncertainties beyond its control [195]. Investment and Cash Management - As of December 31, 2025, the company had corporate cash and cash equivalents totaling $370.0 million and funds held for clients amounting to $4.8 billion [338]. - The company had available-for-sale securities totaling $374.5 million, primarily consisting of U.S. treasury securities with original maturities of two years or less [338]. - A hypothetical increase or decrease in interest rates of 100 basis points would result in an approximately $22.1 million increase or decrease in interest earned on funds held for clients over the ensuing 12-month period [341]. - An immediate increase in interest rates of 100 basis points would have resulted in a $1.7 million reduction in the aggregate market value of available-for-sale securities as of December 31, 2025 [342]. - The company’s investments are subject to market risk due to changes in interest rates, which may affect future investment income [339]. - The company does not enter into investments for trading or speculative purposes, focusing instead on capital preservation and liquidity needs [338]. Strategic Acquisitions and Corporate Governance - The company intends to evaluate strategic acquisitions in the future, which may involve issuing additional equity securities [201]. - Anti-takeover provisions in the company’s charter may delay or prevent changes in control or management, potentially affecting stockholder opportunities [203].