Revenue Performance - Total revenue for Q4 2025 was $172.9 million, a 6.5% increase from $162.3 million in Q4 2024[4] - Revenue from material sales in Q4 2025 was $95.5 million, up from $93.3 million in Q4 2024, driven by higher unit material volume[4] - Revenue from royalty and license fees in Q4 2025 was $72.6 million, compared to $64.4 million in Q4 2024, reflecting increased unit material volume[4] - Full year 2025 total revenue was $650.6 million, slightly up from $647.7 million in 2024[7] - Full year 2025 revenue from material sales decreased to $353.0 million from $365.4 million in 2024, primarily due to changes in customer mix[7] - Full year 2025 revenue from royalty and license fees increased to $275.1 million from $266.8 million in 2024[7] Income and Profitability - Operating income for Q4 2025 was $67.2 million, compared to $52.5 million in Q4 2024, which included $8.9 million in restructuring costs[4] - Net income for Q4 2025 was $66.3 million, or $1.39 per diluted share, up from $46.0 million, or $0.96 per diluted share in Q4 2024[4] - Net income for the year ended December 31, 2025, was $242.1 million, up 9% from $222.1 million in 2024[22] - Operating income for the year ended December 31, 2025, was $248.6 million, an increase of 4.7% from $238.8 million in 2024[22] - Gross margin for Q4 2025 was $131.6 million, compared to $124.9 million in Q4 2024, reflecting a gross margin increase of 5.4%[22] Cash Flow and Dividends - Cash dividends declared per common share increased to $0.45 in Q4 2025 from $0.40 in Q4 2024, representing a 12.5% increase[22] - The company announced a cash dividend of $0.50 per share for Q1 2026, payable on March 31, 2026[11] - Net cash provided by operating activities for the year was $210.8 million, down from $253.7 million in 2024, a decrease of 16.9%[24] - The company reported a net cash used in investing activities of $45.5 million for the year, compared to $164.4 million in 2024[24] - Cash and cash equivalents at the end of 2025 were $138.4 million, up from $99.0 million at the end of 2024[24] Research and Development - Research and development expenses decreased to $38.5 million in Q4 2025 from $46.3 million in Q4 2024, a reduction of 16.0%[22] Future Outlook - The company expects 2026 revenue to be in the range of $650 million to $700 million, reflecting the dynamic OLED industry[10] Accounts Receivable - The company experienced a decrease in accounts receivable by $6.3 million in 2025, contrasting with an increase of $26.2 million in 2024[24]

Revenue Sources and Financial Performance - Farmer Mac's primary revenue sources include net interest income and guarantee fees from outstanding guaranteed securities and long-term standby purchase commitments (LTSPCs) [31]. - Net income attributable to common stockholders for 2025 was $182.5 million, a year-over-year increase of $2.1 million, driven by a $36.9 million increase in net interest income [203]. - Core earnings for 2025 were $182.9 million, reflecting an increase of $11.3 million year-over-year, primarily due to a $43.5 million increase in net effective spread [204]. - Net interest income for 2025 was $390.7 million, up $36.9 million from 2024, with a net interest yield of 1.19% [207]. - The company provided $10.5 billion in liquidity and lending capacity to lenders serving rural America during 2025 [201]. Loan and Credit Risk Management - The maximum loan size for eligible Agricultural Finance mortgage loans secured by more than 2,000 acres is $17.4 million as of December 31, 2025, with a cumulative direct credit exposure limit of 10% of Farmer Mac's Tier 1 capital, which is $170.6 million [36]. - The allowance for losses increased by $14.3 million, primarily due to $32.9 million in net provision expense, with significant credit deteriorations in Corporate AgFinance and Broadband Infrastructure segments [211]. - Substandard assets increased to $569.8 million as of December 31, 2025, representing 3.52% of the Agricultural Finance portfolio and 0.96% of the Infrastructure Finance portfolio [213]. - 90-day delinquency rates for Agricultural Finance loans were 0.40% as of December 31, 2025, compared to 0.37% in 2024 [214]. - The company has a concentration of $7.6 billion in AgVantage securities issued by three counterparties, which poses a significant credit risk if any of these counterparties default [128]. Business Operations and Market Position - The Agricultural Finance line of business includes the Farm & Ranch and Corporate AgFinance segments, which provide a secondary market for eligible loans through purchasing, guaranteeing, and servicing [34]. - Farmer Mac's activities aim to enhance lenders' liquidity and lending capacity, providing a stable funding source for agricultural and rural credit markets [29]. - The company markets a mix of products to lenders, including long-term fixed-rate loans, to meet their capital and liquidity needs [30]. - Farmer Mac's competitive position is influenced by the willingness of originators to offer eligible loans for sale in the secondary market, as well as the types of products offered by competitors [56]. - The company is classified within level I for compliance with capital standards as of December 31, 2025, indicating the highest compliance level [106]. Employee Engagement and Corporate Culture - As of December 31, 2025, Farmer Mac employed 212 people, reflecting a net increase of 21 employees (11%) compared to year-end 2024 [67]. - The company has a flexible office space and hybrid work model, which has enhanced employee engagement and contributed to receiving the USA Today Top Workplaces national award in 2025 [70]. - Farmer Mac's compensation and benefits package includes a robust paid time off program, a group health plan with all premiums paid by the company, and a 401(k) plan with employer contributions [72]. - The company has adopted a strategic learning and development program called "Farmer Mac LEARN," structured around six strategic LEARN Academies to support employee career development [71]. - The turnover rate decreased to 3.9% in 2025 from 6.8% in 2024 [76]. Capital Management and Financial Stability - As of December 31, 2025, the regulatory capital was $1.7 billion, exceeding the risk-based capital requirement of $201.3 million by approximately $1.5 billion [104]. - The company declared dividends of $1.50 per share for four quarters in 2025, with an increase to $1.60 scheduled for March 2026 [88]. - The company is authorized to borrow up to $1.5 billion from the U.S. Treasury to fulfill guarantee obligations, but has not utilized this authority as of December 31, 2025 [94][95]. - The company has a common stock repurchase program with an authorized amount of $50.0 million, extended to August 5, 2027 [90]. - The company must maintain a capital conservation buffer of more than 2.5% of risk-weighted assets, with restrictions on dividend payouts if the buffer falls below this level [113]. Risk Factors and Compliance - The company is subject to risks from geopolitical instability and natural disasters, which may adversely affect borrowers' ability to repay loans [119]. - The company faces risks from changes in U.S. trade policies and regulations that could impact agricultural producers and infrastructure borrowers [123]. - The company is regulated by government agencies, and changes in legislation could adversely affect its business operations and financial condition [161]. - The company may face increased compliance costs and legal liabilities due to evolving privacy and cybersecurity regulations [165]. - The company is exposed to operational risks due to reliance on third-party servicers for loan servicing, which could adversely affect business operations [142]. Cybersecurity and Operational Risks - Cybersecurity threats have increased, with the company facing regular attacks from various sources, which could disrupt operations and lead to significant financial losses [145]. - The company has implemented a comprehensive cybersecurity risk management program, including annual assessments and regular training for all employees [171]. - The cybersecurity subcommittee of the board meets monthly to discuss the performance and effectiveness of the cybersecurity program [177]. - The Chief Information Security Officer (CISO) has over 20 years of experience in cybersecurity and reports directly to the Chief Risk Officer [178]. - The company maintains a privacy and security incident response program to manage and recover from cybersecurity incidents [173].

As filed with the Securities and Exchange Commission on February 19, 2026 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 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 001-14951 FEDERAL AGRICULTURAL MORTGAGE CORPORATION (Exact na ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) Securities registered pursuant to Section 12(b) of the Act: | | | Registered | | --- | --- | --- | | Title of Each Class Common Stock, par value $0.001 per share | Trading Symbol(s) PLSE | Name of Each Exchange on Which The Nasdaq Stock Market LLC | ☒ 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 REPO ...

Financial Performance - Full year 2025 revenue reached a record $1.1 billion, representing a 10% increase from $1.04 billion in 2024[4] - Q4 2025 revenue increased 8% to $300.3 million, compared to $278.7 million in Q4 2024[4] - Q4 subscription revenue grew by 12%, while enterprise AI revenue surged by 50%[1] - GAAP net income for 2025 was $39.4 million, or 3.4% of revenue, compared to a net loss of $(12.8) million in 2024[9] - Non-GAAP net income for 2025 was $228.7 million, or 19.9% of revenue, up from $185.3 million in 2024[9] - Adjusted EBITDA for 2025 was $269.7 million, or 23.5% of revenue, compared to $196.0 million, or 18.8% of revenue in 2024[9] - GAAP net income for Q4 2025 was $19.713 million, compared to $11.577 million in Q4 2024, representing a year-over-year increase of 70.5%[33] - Non-GAAP operating income for Q4 2025 reached $61.615 million, up from $49.519 million in Q4 2024, reflecting a growth of 24.5%[36] - Adjusted EBITDA for Q4 2025 was $77.322 million, which is 25.7% of revenue, compared to $64.256 million or 23.1% of revenue in Q4 2024[33] - The company reported a total revenue increase of 23.5% for the twelve months ended December 31, 2025, compared to the previous year[33] Cash Flow and Assets - Q4 2025 GAAP operating cash flow was $83.6 million, significantly higher than $49.8 million in Q4 2024[4] - Cash flows from operating activities for the twelve months ended December 31, 2025, were $226,207 thousand, up from $143,168 thousand in 2024[27] - Total current assets decreased to $959,724 thousand in 2025 from $1,248,568 thousand in 2024, reflecting a decline of 23.1%[21] - Total liabilities decreased to $1,004,253 thousand in 2025 from $1,429,022 thousand in 2024, a reduction of 29.7%[21] - The company reported a total stockholders' equity of $785,817 thousand as of December 31, 2025, an increase from $622,192 thousand in 2024[21] Future Projections - For full year 2026, revenue is expected to be in the range of $1.247 to $1.261 billion[10] - Q1 2026 GAAP net income per share is projected to be between $0.10 and $0.17[10] - GAAP net income for the three months ending March 31, 2026, is projected to be between $8,874 and $14,954, with a year-end estimate of $75,496 to $83,176 million[46] - Non-GAAP net income for the same period is expected to range from $50,820 to $53,900, with a year-end forecast of $245,700 to $250,380 million[46] - GAAP net income per share (diluted) is anticipated to be between $0.10 and $0.17 for the three months ending March 31, 2026, and $0.86 to $0.95 for the year[46] - Non-GAAP net income per share (diluted) is projected to be between $0.66 and $0.70 for the three months ending March 31, 2026, and $3.15 to $3.21 for the year[46] Expenses and Costs - Research and development expenses for Q4 2025 were $36,104 thousand, down from $41,480 thousand in Q4 2024, a decrease of 13.4%[24] - Total stock-based compensation for the twelve months ended December 31, 2025, was $148.068 million, down from $166.315 million in the previous year[43] - Acquisition and related transaction costs, along with one-time integration costs, are projected to be between $1,710 and $2,710 million for the three months ending March 31, 2026, and $7,563 to $8,563 million for the year[46] - Legal fees related to the securities class action are expected to be $400 million for both the three months and year ending March 31, 2026[46] Strategic Initiatives - Five9 emphasizes the importance of AI in transforming the customer experience market, positioning itself to lead in this area[5] - The company completed the acquisition of Acqueon Inc., impacting cash flows and strategic positioning in the market[27] - The company plans to continue its market expansion and product development initiatives in the upcoming fiscal year[33] - The adjusted EBITDA margin improved from 18.8% in 2024 to 23.5% in 2025, indicating enhanced operational efficiency[33] Guidance and Taxation - The company does not anticipate any material impact on its worldwide income tax provision due to the tax treatment of non-GAAP adjustments[48] - Guidance provided on February 19, 2026, should not be construed as an update or reaffirmation after that date[46]

Exhibit 99.1 PRESS RELEASE Prothena Reports Fourth Quarter and Full Year 2025 Financial Results, and Provides Financial Guidance and Business Highlights DUBLIN, Ireland, February 19, 2026-- Prothena Corporation plc (NASDAQ:PRTA), a late-stage clinical biotechnology company with a robust pipeline of investigational therapeutics built on protein dysregulation expertise, today reported financial results for the fourth quarter and full year 2025. In addition, the Company provided business highlights and 2026 fi ...

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 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 000-03922 PATRICK INDUSTRIES, INC. (Exact name of registrant as specified in its charter) | Indiana | | 35-1057796 | | --- | --- | --- | | (State or ...

Media Contact: 858-366-6900 media@tandemdiabetes.com Investor Contact: 858-366-6900 IR@tandemdiabetes.com Exhibit 99.1 FOR IMMEDIATE RELEASE Tandem Diabetes Care Announces Fourth Quarter and Full Year 2025 Financial Results and 2026 Financial Guidance San Diego, February 19, 2026 - Tandem Diabetes Care, Inc. (Nasdaq: TNDM), a global insulin delivery and diabetes technology company, today reported its financial results for the quarter and fiscal year ended December 31, 2025 and provided its financial guidanc ...

Exhibit 99.1 Alarm.com Reports Fourth Quarter and Full Year 2025 Results -- SaaS and license revenue increased to $180.2 million, compared to $165.7 million for the fourth quarter of 2024 -- -- GAAP net income increased to $34.6 million, compared to $30.1 million for the fourth quarter of 2024-- TYSONS, VA., February 19, 2026 -- Alarm.com Holdings, Inc. (Nasdaq: ALRM), the leading platform for intelligently connected properties, today reported financial results for its fourth quarter and full year ended Dec ...

Financial Performance - Net income decreased 47.6% from $61.5 million for the year ended December 31, 2024 to $32.2 million for the year ended December 31, 2025[22] - Adjusted Funds from Operation (AFFO) increased 27% from $14.1 million for the year ended December 31, 2024 to $17.9 million for the year ended December 31, 2025; AFFO per weighted average common share increased 34.5% from $0.29 per share to $0.39 per share[22] - Total indebtedness decreased by $43.0 million from $204.6 million at December 31, 2024 to $161.6 million at December 31, 2025[22] Property Transactions - Completed dispositions of 60 properties for aggregate consideration of $90.2 million, recognizing a net gain on sale of $34.9 million[22] - Completed acquisitions of six properties in the Corn Belt region for total consideration of $7.3 million[22] - The company completed dispositions of 60 properties for a total consideration of $90.2 million, recognizing a net gain of $34.9 million during the year ended December 31, 2025[49] - The company acquired six properties in the Corn Belt region for an aggregate cash consideration of $7.3 million[51] Land and Crop Management - Owned farms with an aggregate of approximately 71,600 acres across multiple states, with 60% of the portfolio used for primary crops and 40% for specialty crops[16] - As of December 31, 2025, the company owned approximately 71,600 acres of farmland across multiple states, including Arkansas, California, and Texas[49] - Approximately 60% of the company's portfolio is comprised of properties used to grow primary crops such as corn, soybeans, wheat, rice, and cotton, which subjects the company to risks associated with these crops[95] - By value, approximately 40% of the company's portfolio is used for permanent crops, which have a higher risk profile compared to annual row crops[96] Revenue and Rental Income - The principal source of revenue is rent from tenants, with a mix of fixed and variable rents to mitigate credit-risk exposure[20] - The company expects rental income to increase over time, primarily through short-term leases[33] - The company recognizes a significant portion of rental revenue in the first and fourth quarters due to the seasonal nature of agriculture, with revenue in these quarters being meaningfully higher than in the second and third quarters[48] Financial Obligations and Risks - As of December 31, 2025, the company had approximately $161.6 million of outstanding indebtedness, primarily secured by mortgages on its farms[82] - The company’s debt agreements contain customary events of default, which could materially and adversely affect its financial condition if triggered[83] - As of December 31, 2025, $67.8 million of the company's outstanding indebtedness was subject to interest rates that reset periodically, with $26.2 million resetting in 2026[86] - The company is exposed to risks from global economic conditions, including elevated inflation and supply chain disruptions, which could adversely affect its operations and those of its tenants[89] Tenant and Market Risks - The company is subject to tenant credit risk, as certain leases do not require full payment of rent in cash in advance, exposing the company to potential defaults[101] - The company’s short-term leases make it more susceptible to decreases in prevailing market rental rates, which could adversely affect financial results[102] - The company’s tenants' profitability is crucial for its cash flow, and downturns in farming operations could materially affect rent collection[79] - Adverse weather conditions, seasonal variability, and crop diseases may significantly impact the company's revenues and tenants' ability to pay rent[113] Regulatory and Compliance Issues - The company is subject to various agricultural regulations, including those governing water usage and chemical applications, which may impact its operations[55][59] - The company is committed to ensuring compliance with labor and environmental regulations among its tenants, supporting human rights and fostering a positive company culture[65] Strategic Focus and Growth - The company intends to focus on acquiring high-quality farmland with average or better-than-average soil quality, water availability, and access to markets[42][45] - The company’s ability to expand through farmland acquisitions is critical to its growth strategy, but competition for suitable properties may increase prices and limit opportunities[98] Cybersecurity and Operational Risks - Cybersecurity risks have increased due to new technologies and sophisticated cyber-attacks, potentially impacting the company's operations and financial condition[132] - The company has experienced past cyberattacks, and while none were material, it anticipates future incidents that could disrupt operations and lead to financial losses[133] - The company employs tools to identify and mitigate cybersecurity threats, including firewalls and intrusion detection systems[194] Legal and Litigation Matters - The company filed a complaint against Sabrepoint on July 2, 2021, alleging involvement in a "short and distort scheme" that artificially lowered the company's stock price[129] - The company may incur significant unrecoverable costs if unsuccessful in the litigation against Sabrepoint, which could materially affect its business and financial condition[131] REIT Compliance and Shareholder Matters - To maintain qualification as a REIT, the company must distribute at least 90% of its REIT taxable income each year[167] - Failure to maintain REIT qualification could subject the company to U.S. federal income tax at regular corporate rates, significantly reducing distributions to stockholders[165] - The company may need to borrow funds or sell assets to meet distribution requirements to maintain REIT status[167] - The company’s charter restricts ownership of its stock to maintain REIT qualification, limiting market activity and business combinations[175]