Revenue Performance - Consolidated revenue for Q4 2025 was $22.5 million, a 9% increase from $20.7 million year-over-year[1] - North America business segment revenue increased 6% year-over-year to $14.8 million, with an operating profit of $1.5 million, or 10% of revenue[6] - Europe business segment revenue rose 16% year-over-year to $6.3 million, but reported an operating loss of $1 million, or 16% of revenue[7] - Total net revenues for the three months ended December 31, 2025, were $22,474 thousand, up from $20,678 thousand in the same period of 2024, representing an increase of approximately 8.7%[29] - Total revenues from unaffiliated customers for the twelve months ended December 31, 2025, were $91,719 thousand, an increase from $83,902 thousand in 2024, marking a growth of about 9.5%[30] Profitability - Non-GAAP consolidated operating profit was $0.9 million, excluding amortization of intangibles and stock option expenses[4] - Net income for the three months ended December 31, 2025, was $60 thousand, compared to $3,281 million for the same period in 2024, indicating a significant decline[27] - Operating profit for the three months ended December 31, 2025, was $554 thousand, down from $4,851 thousand in the same period of 2024, reflecting a decrease of about 88.6%[29] - Non-GAAP operating income for the twelve months ended December 31, 2025, was $8,796 thousand, down from $21,095 thousand in 2024, a decline of about 58.3%[32] Cash Flow and Financial Position - Cash flow from operations was $1.5 million, with cash and cash equivalents totaling $10.8 million as of December 31, 2025[14] - Cash flows from operating activities for the twelve months ended December 31, 2025, were $5,661 thousand, compared to $21,100 thousand for the same period in 2024, a decrease of approximately 73%[27] - The company reported a cash balance of $10,763 thousand at the end of December 31, 2025, compared to $17,740 thousand at the end of December 31, 2024, reflecting a decrease of approximately 39.4%[27] Expenses - Sales and marketing expenses for the twelve months ended December 31, 2025, totaled $45,267 thousand, compared to $34,470 thousand in 2024, indicating an increase of approximately 31.3%[30] - The company’s total operating expenses for the three months ended December 31, 2025, were $16,976 thousand, compared to $13,066 thousand in the same period of 2024, an increase of approximately 30.5%[32] - The company incurred stock-based compensation expenses of $1,447 thousand for the twelve months ended December 31, 2025, compared to $1,646 thousand in 2024, a decrease of about 12.1%[32] Future Outlook - For Q1 2026, the company expects continued year-over-year revenue growth as membership fees are recognized ratably over the subscription period[16] - Membership fees revenue is recognized ratably over a 12-month subscription period, impacting EPS in the short term[2] - Licensing revenue from Australia and Japan was $8,000 and $7,000 respectively for Q4 2025, with expectations for future growth[11] Share Repurchase - The company did not repurchase any shares of its outstanding common stock during Q4 2025[15] Customer Metrics - Travelzoo reached 30 million travelers, including members from Jack's Flight Club[12]

Ferrari N.V. 2025 ANNUAL REPORT AND FORM 20-F UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☑ 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 OR SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF ...

Sales Performance by Region - Beverage Packaging, North and Central America segment accounted for 48% of consolidated net sales in 2025, with approximately 50 billion aluminum beverage containers shipped, representing 36% of total shipments in the region [51][53]. - Beverage Packaging, EMEA segment contributed 30% to consolidated net sales in 2025, with 38 billion aluminum beverage containers shipped, capturing an estimated 39% of the market [56]. - Beverage Packaging, South America segment represented 16% of consolidated net sales in 2025, with approximately 20 billion aluminum beverage containers shipped, holding a 46% market share [60]. Financial Risk Management - The company limits exposure to aluminum price fluctuations through sales contracts that allow for pass-through of aluminum price changes and the use of derivative instruments [55][62]. - A hypothetical 10% adverse change in aluminum prices could result in an estimated $3 million after-tax reduction in net earnings over a one-year period [212]. - Interest rate exposure management includes the use of pay-fixed interest rate swaps, with a 100-basis point increase in interest rates potentially leading to a $7 million after-tax reduction in net earnings [214]. - A hypothetical 10% reduction in currency exchange rates could result in an estimated $15 million after-tax reduction in net earnings over a one-year period [217]. - The company has three fixed-for-fixed cross currency swaps outstanding, totaling €1.05 billion, with a 10% adverse change in foreign currency exchange rates potentially leading to a $67 million after-tax currency translation adjustment loss [218]. Research and Development - Research and development efforts focus on packaging innovation and sustainability, conducted primarily at a technical center in Westminster, Colorado [71]. Expansion and Acquisitions - The company acquired Florida Can Manufacturing in Q1 2025, expanding its manufacturing capabilities in North America [52].

Operations and Facilities - Vulcan Materials Company operates 425 active aggregates facilities, with top ten revenue-producing states accounting for 90% of 2025 revenues, and top five states contributing 63%[25] - In 2025, the company operated 425 active aggregates facilities, 71 asphalt facilities, and 76 concrete facilities[56] - The company has approximately 310,000 acres in its land portfolio, actively managing land use from pre-mining to reclamation to maximize value[41] - The company has 248 production stage properties and 81 development stage properties, with production currently halted at operations in Calica, Mexico, and Puerto Cortés, Honduras[162][160] - The aggregates segment includes 248 active facilities, comprising 204 production stage mining properties and 44 sand and gravel facilities[183] Financial Performance - Net earnings attributable to Vulcan increased 18% to $1,076.7 million, with adjusted earnings per diluted share rising to $8.00 from $7.53[212] - Total revenues increased by $523.4 million, or 7%, to $7,941.1 million, while gross profit rose by $175.0 million, or 9%, to $2,174.6 million[213] - Adjusted EBITDA improved by 13% to $2,323.6 million, with an adjusted EBITDA margin expansion of 160 basis points[212] - The company expects net earnings attributable to Vulcan for 2026 to be between $1,100 million and $1,300 million, with adjusted EBITDA projected between $2,400 million and $2,600 million[218] - The total debt to adjusted EBITDA ratio was 1.9 times, with a weighted-average debt maturity of 13.7 years and an effective interest rate of 5.0%[214] Market and Demand - In 2025, total annual housing starts in the U.S. reached approximately 1.5 million units, indicating a recovery in the housing market[77] - The company is currently operating below full capacity, positioning itself to benefit from economies of scale as demand for aggregates grows[69] - The company anticipates continued strength in public construction activity and improving private nonresidential opportunities in 2026[215] - Approximately 80% of total aggregates shipments are delivered by truck directly from the production location to customers, with less than 5% delivered by rail or water[58][60] - The company has over 25,000 customers across its markets, benefiting from a coast-to-coast footprint of strategically located permitted reserves[62] Sustainability and Environmental Initiatives - The company recycled 2.5 million tons of recycled asphalt pavement (RAP) and 1.7 million tons of concrete in 2025, contributing to sustainability efforts[52] - The company is committed to reducing greenhouse gas emissions, with approximately 90% of gross profit derived from producing aggregates, which results in low emissions[95] - In 2025, Tier IV machines performed over 67% of the off-road fleet's work, positively impacting air emissions and GHG emissions[96] - The company has planned four additional solar projects in California for 2026, aimed at lowering operating costs and benefiting the local electric grid[97] - The company has licensed CarbonCure technology for its Concrete segment, which captures and sequesters carbon dioxide within ready-mixed concrete, enhancing strength and reducing the carbon footprint[99] Strategic Acquisitions and Growth - The company has completed over 30 acquisitions in the last 10 years, including more than 75 aggregates quarries and sales yards in top revenue states[35] - The company’s future growth is partially reliant on acquiring and successfully integrating other businesses within the industry, which involves various risks[132] - The company disposed of its asphalt mix and construction paving operations in the greater Houston market in 2025 to optimize its asset portfolio[84] - In Q4 2025, the company divested its concrete business in California, aligning with its aggregates-led strategy and generating cash proceeds for future growth opportunities[86] Safety and Workforce - In 2025, Vulcan achieved a safety performance of 0.9 injuries per 200,000 employee hours worked, significantly better than the industry average of 1.8[46] - The company employed 11,172 people in the U.S. as of January 1, 2026, with a satisfactory relationship with its workforce, including unionized employees[105] Legal and Regulatory Environment - The company is subject to various legal proceedings but did not incur any penalties in 2025 for failure to disclose transactions identified as abusive by the IRS[189] - The company’s operations are affected by numerous legal requirements and governmental policies, which may impose new liabilities or require additional investments[141] - The company is involved in environmental investigations and legal proceedings, which may result in significant costs and liabilities[142] Financial Obligations and Risks - The company has $4,362.1 million in debt with maturities ranging from 2027 to 2054, indicating a significant financial obligation[135] - The company’s operations are highly sensitive to changes in product shipments due to the capital-intensive nature of the industry, which could adversely affect financial results[134] - The company faces competition from a fragmented industry with numerous independent producers and larger companies, which could lead to lower prices and sales volumes[129] - The company is dependent on the construction industry, which is influenced by economic cycles, interest rates, and demographic shifts, potentially impacting demand for its products[126] Resources and Reserves - As of December 31, 2025, the company reported total proven and probable aggregates reserves of 16.6 billion tons, reflecting an increase of 0.1 billion tons from the previous year[177] - Proven and probable aggregates reserves are defined as the economically mineable part of a measured or indicated mineral resource, with the company applying modifying factors to establish economic viability[173] - The company’s aggregates resources are estimated based on an average sales price assumption ranging from approximately $14.30 to $28.10 per ton depending on the location/market[171] - The aggregates reserves include a maximum of 243.8 million tons encumbered by volumetric production payments[177] - Of the total reserves, 13.8 billion tons (83%) are located on production stage properties, while 2.8 billion tons (17%) are on development stage properties[178]

Financial Performance - Old National's net income applicable to common shareholders for 2025 was $653.1 million, or $1.79 per diluted common share, with adjusted net income of $808.6 million, or $2.21 per diluted common share [230][231]. - Net income available to common shareholders was $653,122, a 24.8% increase from $523,053 in 2024 [239]. - The diluted net income per common share increased to $1.79 in 2025 from $1.68 in 2024, a rise of 6.5% [251]. - The company reported a return on average assets of 1.21% and a return on average common equity of 10.44% for the fourth quarter of 2025 [237]. - The return on average tangible common equity was 15.27%, slightly down from 15.37% in 2024 [239]. Growth and Acquisitions - Total deposits grew by 35% in 2025, with a loan-to-deposit ratio of 89% [230]. - Old National completed its acquisition of Bremer on May 1, 2025, enhancing its operating platform [233]. - Total loans reached $48.76 billion by December 31, 2025, up from $36.29 billion a year earlier [237]. - Total assets increased to $72,151,967, up 34.7% from $53,552,272 in the previous year [239]. - The company expanded its workforce to 4,971 full-time equivalent employees, an increase from 4,066 in the previous year [239]. Income and Revenue - Net interest income increased by 34% to $2.1 billion, driven by strong loan growth and the Bremer acquisition [232]. - Noninterest income rose from $354.7 million in 2024 to $466.5 million in 2025, primarily due to the Bremer acquisition and higher mortgage banking revenue [232]. - Noninterest income grew to $466,531 in 2025, compared to $354,697 in 2024, marking a 31.5% increase [251]. - The company reported a total interest income increase of $672,099 thousand from 2024 to 2025, attributed to strong loan growth and higher average balances [260]. Efficiency and Management - The efficiency ratio improved to 55.10%, reflecting disciplined expense management [230]. - The efficiency ratio improved to 55.10%, down from 55.85% in 2024, indicating better cost management [239]. - Total noninterest expense increased to $1.5 billion in 2025, a 35.7% rise from 2024, including $140.9 million of merger-related expenses [272]. Credit and Loan Quality - Provision for credit losses increased to $197,721, compared to $110,619 in 2024, reflecting a rise of 78.5% [239]. - The allowance for credit losses on loans increased to $569.5 million at December 31, 2025, up from $392.5 million at December 31, 2024, reflecting adjustments related to the Bremer acquisition [297]. - Total charge-offs for 2025 amounted to $125.0 million, significantly higher than $71.3 million in 2024 [332]. - The net charge-off ratio for commercial loans was 0.46% in 2025, up from 0.35% in 2024, indicating a rise in credit losses [333]. Asset Management - The tangible common equity to tangible assets ratio improved to 7.72% in 2025 from 7.41% in 2024, indicating stronger capital efficiency [249]. - The investment securities portfolio increased to $14.9 billion at December 31, 2025, compared to $10.9 billion at December 31, 2024, primarily due to the Bremer acquisition [279]. - Total funding increased by $16.3 billion to $62.5 billion at December 31, 2025, reflecting both deposit growth and wholesale borrowings [302]. Regulatory and Compliance - The effective tax rate was 20.5% in 2025, slightly down from 20.8% in 2024, influenced by tax benefits from tax credit investments [275]. - Old National's credit ratings are Baa1 for long-term and A1 for short-term from Moody's Investors Service as of December 31, 2025 [354]. - Compliance and regulatory risk management is embedded in the company's culture, with oversight from multiple lines of defense [359]. Future Outlook - Looking ahead, Old National aims for continued organic growth and investment in technology and talent [235]. - Projected net interest income for December 31, 2025, is estimated at $9,050,648 thousand, reflecting a year-over-year increase driven by loan growth and asset repricing [344].

Financial Performance - Old National's net income applicable to common shareholders for 2025 was $653.1 million, or $1.79 per diluted common share, with adjusted net income of $808.6 million, or $2.21 per diluted common share [230][231]. - Net income available to common shareholders increased to $653,122, reflecting a 24.8% growth compared to $523,053 in 2024 [239]. - The return on average common equity for Q4 2025 was 10.44%, up from 9.01% in Q3 2025 [237]. - Diluted net income per common share increased to $1.79 in 2025 from $1.68 in 2024, a growth of 6.5% [251]. - The effective tax rate was 20.5% in 2025, slightly down from 20.8% in 2024, influenced by tax benefits from tax credit investments [275]. Growth and Acquisitions - The completion of the Bremer acquisition on May 1, 2025, solidified Old National's position as a premier mid-size bank [230][233]. - Total deposits grew by 35% in 2025, with a loan-to-deposit ratio of 89% [230]. - The company plans to focus on disciplined organic growth and continued investment in technology and client-facing capabilities in 2026 [235]. - The company's assets grew to $72.2 billion at December 31, 2025, an increase of $18.6 billion from $53.6 billion at December 31, 2024, mainly due to the Bremer acquisition [276]. Income and Expenses - Net interest income increased by 34% to $2.1 billion, driven by strong loan growth and the Bremer acquisition [232]. - Noninterest income rose from $354.7 million in 2024 to $466.5 million in 2025, primarily due to the Bremer acquisition and higher mortgage banking revenue [232]. - Total noninterest expense reached $1.5 billion in 2025, a 35.7% increase from 2024, including $140.9 million of merger-related expenses [272]. - The total interest expense for 2025 was $1,211,979 thousand, compared to $1,070,868 thousand in 2024 [260]. Asset and Loan Growth - Old National's total loans reached $48.76 billion by December 31, 2025, up from $36.29 billion a year earlier [237]. - Total loans grew significantly to $48,764,162, a 34.4% increase from $36,285,887 in 2024 [239]. - Average loans, including loans held-for-sale, increased by $8.7 billion in 2025, primarily due to the acquisition of Bremer loans totaling $11.1 billion [265]. - The loan portfolio totaled $48.8 billion at December 31, 2025, reflecting a 34.4% increase from $36.3 billion at December 31, 2024 [283]. Capital and Equity - Shareholders' equity reached $8.5 billion, or 12% of total assets, at December 31, 2025, up from $6.3 billion at December 31, 2024, due to equity raised from the Bremer acquisition [305]. - Tangible book value per share grew by 15% in 2025, with a focus on driving further growth in 2026 [230][234]. - The tangible common book value per share rose to $13.71, compared to $11.91 in 2024, reflecting improved capital strength [239]. Credit Quality and Losses - Provision for credit losses increased to $197,721 in 2025, up from $110,619 in 2024, reflecting a rise of 78.5% [251]. - The allowance for credit losses on loans increased to $569.5 million at December 31, 2025, up from $392.5 million at December 31, 2024, reflecting adjustments related to the Bremer acquisition [297]. - Total charge-offs for the year 2025 amounted to $125.0 million, significantly higher than $71.3 million in 2024 [332]. - The net charge-offs to average loans ratio for total loans was 0.25% in 2025, compared to 0.17% in 2024, indicating a deterioration in credit quality [333]. Operational Metrics - The efficiency ratio improved to 55.10%, reflecting disciplined expense management [230]. - The efficiency ratio improved to 55.10%, down from 55.85% in 2024, indicating better cost management [239]. - The number of full-time equivalent employees increased to 4,971, up from 4,066 in 2024, indicating growth in operational capacity [239]. Risk Management - The company maintains frameworks to mitigate operational risks, including cybersecurity threats and internal control weaknesses [358]. - Compliance and regulatory risks are managed through established policies and oversight to ensure adherence to applicable laws and regulations [359]. - Legal risks are addressed through corporate governance practices that comply with legal requirements and market standards [360].

Financial Performance - Old National's net income applicable to common shareholders for 2025 was $653.1 million, or $1.79 per diluted common share, with adjusted net income of $808.6 million, or $2.21 per diluted common share [230][231]. - Net income available to common shareholders was $653,122 in 2025, a 24.8% increase from $523,053 in 2024 [239]. - The diluted net income per common share increased to $1.79 in 2025, compared to $1.68 in 2024, a rise of 6.5% [251]. - The return on average common equity for Q4 2025 was 10.44%, up from 9.83% in Q4 2024 [237]. - The return on average tangible common equity was 15.27% in 2025, slightly down from 15.37% in 2024 [239]. Growth and Acquisitions - Total deposits grew by 35% in 2025, with a loan to deposit ratio of 89% [230]. - Old National completed its acquisition of Bremer on May 1, 2025, enhancing its operating platform [233]. - The total loans increased to $48.76 billion by December 31, 2025, up from $36.29 billion a year earlier [237]. - Total assets grew to $72,151,967 in 2025, compared to $53,552,272 in 2024, an increase of 34.7% [239]. - The company's assets grew to $72.2 billion at December 31, 2025, an increase of $18.6 billion from $53.6 billion at December 31, 2024, mainly due to the acquisition of Bremer [276]. Income and Expenses - Net interest income increased by 34% to $2.1 billion, driven by strong loan growth and the Bremer acquisition [232]. - Noninterest income rose from $354.7 million in 2024 to $466.5 million in 2025, primarily due to the Bremer acquisition and higher mortgage banking revenue [232]. - Total noninterest expense increased to $1.5 billion in 2025, a 35.7% rise from 2024, including $140.9 million of merger-related expenses [272]. - The efficiency ratio improved to 55.10%, reflecting disciplined expense management [230]. Credit Quality and Losses - Provision for credit losses increased to $197,721 in 2025, up from $110,619 in 2024, reflecting a significant rise in credit risk [239]. - The allowance for credit losses on loans increased to $569.5 million at December 31, 2025, up from $392.5 million at December 31, 2024, reflecting adjustments related to the Bremer acquisition [297]. - Total provision for credit losses increased by $87.1 million in 2025 compared to 2024, reaching $197.7 million, primarily due to credit migration and macroeconomic factors [267]. - The net charge-off ratio for commercial loans was 0.46% in 2025, compared to 0.35% in 2024, indicating a rise in credit losses [333]. Deposits and Funding - Total deposits grew by $14.3 billion to $55.1 billion at December 31, 2025, attributed to Bremer deposits and organic growth [302]. - Total funding increased by $16.3 billion to $62.5 billion at December 31, 2025, reflecting both deposit growth and wholesale borrowings [302]. - The estimated amount of FDIC uninsured deposits for regulatory purposes was $23.7 billion at December 31, 2025 [303]. Operational Metrics - Full-time equivalent employees increased to 4,971 in 2025, up from 4,066 in 2024, reflecting expansion in operations [239]. - The average loans for the year increased to $44.22 billion in 2025 from $35.51 billion in 2024, reflecting growth in the loan portfolio [333]. - The average commercial loan size was approximately $771,000, while the average commercial real estate loan size was approximately $1.5 million as of December 31, 2025 [322]. Risk Management - The company is focused on managing interest rate risk to maximize net interest income while maintaining adequate funding and liquidity [340]. - Compliance and regulatory risk management is embedded in the company culture, ensuring adherence to applicable laws and regulations [359]. - The company maintains frameworks to manage operational risks, including cybersecurity threats and internal control weaknesses [358]. Tax and Legal Considerations - The effective tax rate was 20.5% in 2025, slightly down from 20.8% in 2024, influenced by tax benefits from tax credit investments [275]. - The company reviews income tax expense and deferred tax assets quarterly, with potential material impacts from tax law interpretations and disputes [378].

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 UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ Commission file number: 001-38762 BIOMX INC. (Exact name of registrant as specified in its charter) | Delaware | 82-3364020 | | --- | --- | | (State or other ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.) Form 20-F x Form 40-F o _______________________________ FORM 6-K _______________________________ REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 OF THE SECURITIES EXCHANGE ACT OF 1934 For the month of February 2026 Commission File No. 001-37596 _______________________________ FERRARI N.V. (Translati ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 20-F ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 or ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of event requiring this shell company report or For the transition period from: to Commission file number: 001-10533 Commission file number: 001-34121 Rio Tinto plc Rio Tinto Limited ABN 96 004 458 404 (Mark One) For the fiscal year ended: ...