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Equitable(EQH) - 2025 Q4 - Annual Results
2026-02-04 21:14
Financial Performance - Net income attributable to Holdings decreased by 75.9% to $215 million for Q4 2025, compared to $892 million in Q4 2024[7] - Non-GAAP Operating Earnings for Q4 2025 were $513 million, a slight decrease of 0.4% from $515 million in Q4 2024[7] - The company reported a diluted earnings per common share of $(4.47) for Q4 2025, down 74.5% from $2.74 in Q4 2024[7] - Non-GAAP operating earnings for the year ended December 31, 2025, were $1,741 million, down from $2,004 million in 2024, reflecting a decrease of 13.1%[15] - For the year ended December 31, 2025, consolidated operating earnings were $1,741 million, a decrease from $2,004 million in 2024, representing a decline of 13.1%[21] Equity and Capital - Total equity attributable to Holdings' common shareholders fell by 104.7% to $(1,142) million as of December 31, 2025, from $58 million a year earlier[7] - Total capital returned to common shareholders in 2025 was $1,764 million, an increase from $1,316 million in 2024[7] - The debt to capital ratio (ex. AOCI) increased to 38.3% as of December 31, 2025, up from 27.2% a year earlier[7] - Total equity attributable to Holdings decreased from $10,277 million in December 2024 to $9,968 million in March 2025, a decline of 3.0%[18] - Total equity attributable to Holdings decreased to $5,138 million as of December 31, 2025[74] Revenue and Income - Total revenues decreased by 9.3% year-over-year to $3,277 million for the three months ended December 31, 2025, compared to $3,615 million for the same period in 2024[11] - Total revenues for the consolidated segments amounted to $3,741 million for the three months ended December 31, 2025, compared to $3,948 million in the same period of 2024, a decrease of 5.2%[20] - Total revenues for the year ended December 31, 2025, increased by 13.0% to $6,204 million compared to $5,492 million for the year ended December 31, 2024[29] - Policy charges and fee income fell by 31.8% to $435 million for the three months ended December 31, 2025, down from $638 million in the prior year[11] - Policy charges, fee income, and premiums totaled $3,214 million in 2025, compared to $3,667 million in 2024, showing a decrease of 12.3%[21] Investment Income - Net investment income increased by 7.7% to $1,288 million for the three months ended December 31, 2025, compared to $1,196 million for the same period in 2024[11] - Net investment income for the consolidated segments was $1,311 million for the three months ended December 31, 2025, up from $1,228 million in the same period of 2024, an increase of 6.8%[20] - Net investment income for 2025 was $5,283 million, up from $4,850 million in 2024, indicating an increase of 8.9%[21] - Net investment income improved significantly to $48 million for the year ended December 31, 2025, compared to $27 million for the previous year, marking a 77.8% increase[33] Assets and Liabilities - Total assets rose to $318,312 million as of December 31, 2025, from $295,727 million as of December 31, 2024, reflecting a growth of 7.6%[16] - Total liabilities grew to $316,524 million as of December 31, 2025, up from $292,179 million as of December 31, 2024, marking an increase of 8.3%[16] - The account value balance at the end of the period for the General Account reached $98,909 million, up from $79,376 million at the beginning of the period, reflecting a growth of 24.7%[31] - The total asset value at the end of the period was $176,166 million, an increase from $152,213 million, representing a growth of 15.8%[31] Shareholder Metrics - Weighted-average diluted shares outstanding decreased by 8.2% to 289.1 million in Q4 2025 from 324.8 million in Q4 2024[7] - The ending common shares outstanding decreased from 309.9 million in March 2025 to 283.3 million in December 2025, a reduction of 8.6%[18] - Non-GAAP Operating ROE (TTM) improved to 25.6% for the year ended December 31, 2025, compared to 22.4% a year earlier[7] - Non-GAAP Operating Earnings per common share for the year ended December 31, 2025, was $5.64, down from $5.92 in the previous year, reflecting a decrease of approximately 5%[67] Market Performance - The S&P 500 index value increased from 5,882 in Q4 2024 to 6,846 in Q4 2025, representing a growth of 16.4%[22] - The company’s total AUM/A increased from $1,020.5 billion in Q4 2024 to $1,120.6 billion in Q4 2025, a rise of 9.8%[22] - Total assets under management (AUM) increased to $866.9 billion by December 31, 2025, up from $792.2 billion, indicating a growth of 9.4%[33] Segment Performance - Operating earnings for the Asset Retirement segment reached $410 million for the three months ended December 31, 2025, compared to $385 million in the same period of 2024, representing a 6.5% increase[20] - Operating earnings for the Wealth Management segment were $160 million for the three months ended December 31, 2025, compared to $161 million in the same period of 2024, a slight decrease of 0.6%[20] - Operating earnings for the Corporate and Other segment for the three months ended December 31, 2025, were a loss of $123 million, a 57.7% decrease compared to the previous quarter and a 131.3% decline year-over-year[44] Flow and Premiums - Total first year premiums and deposits for the year ended December 31, 2025, reached $22,361 million, up from $20,922 million in 2024, marking an increase of 6.9%[30] - Total renewal premiums and deposits for the year ended December 31, 2025, were $2,659 million, compared to $2,579 million in 2024, representing a growth of 3.1%[30] - The net flows for the Asset Management segment were negative at $(11.3) billion for the year ended December 31, 2025, compared to $(2.2) billion in the previous year[33] Ratings and Credit - Equitable Financial Life Insurance Company and its subsidiary received an A rating from A.M. Best and A+ from S&P[95] - Equitable Holdings, Inc. has a credit rating of bbb+ from S&P and Baa1 from Moody's[95]
Bassett(BSET) - 2025 Q4 - Annual Results
2026-02-04 21:14
Exhibit 99.1 Bassett Furniture Industries, Inc. P.O. Box 626 Bassett, VA 24055 Contacts: J. Michael Daniel Senior Vice President and Chief Financial Officer (276) 629-6000 – Investors mdaniel@bassettfurniture.com Peter D. Morrison Vice President of Communications (276) 629-6450 – Media ● Revenues increased 5.1% from the prior year quarter. Excluding sales from Noa Home Inc., which closed in late 2024, consolidated revenues increased 6.4%. ● Operating income was $2.3 million or 2.6% of sales as compared to o ...
Crown Holdings(CCK) - 2025 Q4 - Annual Results
2026-02-04 21:13
Corporate Headquarters 14025 Riveredge Drive, Suite 300 Tampa, FL 33637 CROWN HOLDINGS, INC. REPORTS FOURTH QUARTER AND FULL YEAR 2025 RESULTS Tampa, FL - February 4, 2026. Crown Holdings, Inc. (NYSE: CCK) today announced its financial results for the fourth quarter and full year ended December 31, 2025. News Release Highlights Fourth Quarter Full Year 2026 Outlook Timothy J. Donahue, Chairman, President and Chief Executive Officer, stated "The Company continued its strong momentum during the fourth quarter ...
Winvest Acquisition Corp.(WINVU) - 2025 Q1 - Quarterly Report
2026-02-04 21:12
Financial Operations - As of March 31, 2025, the company had not commenced core operations and generated non-operating income from interest on cash and cash equivalents held in the Trust Account[159]. - The company has not commenced operations and relies on the completion of an Initial Business Combination to generate revenue[213]. - There is substantial doubt about the company's ability to continue as a going concern due to insufficient liquidity and a mandatory liquidation date[214]. Business Combination and Extensions - The company entered into a Business Combination Agreement with Xtribe PLC and its subsidiaries, with a registration statement filed on Form F-4 declared effective on March 31, 2025[172]. - The November 2023 Extension Amendment allowed for a potential extension of the Termination Date until June 17, 2024, with a requirement to deposit $55,000 into the Trust Account for each extension[169]. - The June 2024 Extension Amendment allowed for an extension of the Termination Date until December 17, 2024, with a deposit requirement of $30,000 for each extension[173]. - The company held a special meeting on December 10, 2024, where stockholders approved an extension of the Termination Date to January 17, 2025, with the option for monthly extensions[176]. - The company has drawn down a total of $2,070,000 under various Extension Notes to extend the Termination Date[184]. Financial Performance - For the three months ended March 31, 2025, the company reported a net loss of $708,544, an increase from a net loss of $106,446 for the same period in 2024[192]. - As of March 31, 2025, the company had a working capital deficit of $6,637,935, compared to $5,813,265 as of December 31, 2024[193]. - The company incurred ongoing expenses related to being a public company, including legal and professional fees, totaling $730,258 for the three months ended March 31, 2025[192]. Share Redemptions - A total of approximately $98.0 million was redeemed by holders of 9,606,887 Public Shares at a redemption price of approximately $10.20 per share[164]. - Holders of 122,306 Public Shares redeemed their shares for approximately $1,322,518 at a redemption price of approximately $10.81 per share, leaving approximately $12,360,810 in the Trust Account[171]. - Approximately $7,367,204 was redeemed by holders of 650,790 Public Shares at a redemption price of approximately $11.32 per share, leaving 492,333 Public Shares outstanding[174]. - Following the December 2024 Extension Amendment, approximately $3,104,049 remained in the Trust Account after redemptions of 233,555 Public Shares at approximately $12.00 per share[178]. - Holders of 627,684 Public Shares redeemed shares for approximately $6.72 million at a price of $10.71 per share[203]. Funding and Debt - The company raised approximately $750,000 through an unsecured promissory note to extend the Termination Date for the Initial Business Combination[163]. - The company issued an unsecured promissory note on January 31, 2025, allowing borrowing of up to $1,000,000, with $277,756 drawn down to date[180]. - The company issued the First Extension Note for $750,000 and drew down $625,000 to extend the Termination Date to June 17, 2023[200]. - The Second Extension Note was issued for $390,000, with drawdowns of the same amount to extend the Termination Date to December 17, 2023[202]. - The company issued an unsecured promissory note for up to $1,000,000, with drawdowns of $1,000,000 as of March 31, 2025[204]. - The company has no long-term debt or significant liabilities, only a monthly fee of $10,000 to the Sponsor for administrative support[216]. IPO and Trust Account - The company completed its Initial Public Offering on September 17, 2021, raising gross proceeds of $100,000,000 from the sale of 10,000,000 units[195]. - As of September 27, 2021, a total of $116,150,000 of net proceeds from the Initial Public Offering was deposited in the Trust Account[199]. - As of March 31, 2025, the company had approximately $3.3 million in cash held in the Trust Account[212]. - Deferred underwriting discounts of $4,025,000 will be payable upon the consummation of the Initial Business Combination[217]. Regulatory and Compliance - The company received a delisting notice from Nasdaq on March 18, 2025, due to failure to complete the Initial Business Combination by the Extended Date[187].
WinVest Acquisition (WINV) - 2025 Q1 - Quarterly Report
2026-02-04 21:12
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 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: 001-40796 WINVEST ACQUISITION CORP. (Exact name of registrant as specified in its charter) | Delaware | 86-2451 ...
PTC(PTC) - 2026 Q1 - Quarterly Results
2026-02-04 21:12
PTC ANNOUNCES FIRST FISCAL QUARTER 2026 RESULTS Strategic focus on Intelligent Product Lifecycle vision BOSTON, MA, February 4, 2026 - PTC (NASDAQ: PTC) today reported financial results for its first fiscal quarter ended December 31, 2025. "PTC delivered solid financial results in Q1'26, driven by large deal volume and competitive displacements. The continued progress we're making with our go-to-market transformation is resulting in strong and strategic demand capture. This gives us greater confidence that ...
Helmerich & Payne(HP) - 2026 Q1 - Quarterly Results
2026-02-04 21:12
Exhibit 99.1 NEWS RELEASE February 4, 2026 HELMERICH & PAYNE, INC. ANNOUNCES FISCAL FIRST QUARTER RESULTS Operating and Financial Highlights for the Quarter Ended December 31, 2025 Helmerich & Payne | 222 N. Detroit Ave. | Suite 1100 Tulsa OK 74120 | 918 588 5190 | helmerichpayne com • The Company reported consolidated net loss of $(97) million, or $(0.98) per share, which includes the impact of a non-cash impairment charge of $103 million. Adjusted for this and other non-recurring one-time items, adjusted ...
Fluence Energy(FLNC) - 2026 Q1 - Quarterly Report
2026-02-04 21:12
Financial Performance - Total revenue for Q4 2025 reached $475.234 million, a significant increase from $186.788 million in Q4 2024, representing a growth of 154% year-over-year[16] - Gross profit for the quarter was $23.049 million, compared to $21.201 million in the same quarter last year, showing a slight increase of 8.7%[16] - Net loss for Q4 2025 was $62.588 million, compared to a net loss of $57.013 million in Q4 2024, indicating a deterioration in profitability[18] - Revenue for the three months ended December 31, 2025, was $182.2 million, a significant increase from $70.6 million in the same period of 2024, representing a growth of approximately 158%[144] - Net loss for the three months ended December 31, 2025, was $62.588 million, compared to a net loss of $57.013 million for the same period in 2024, representing an increase of approximately 9.1%[22] - The company reported a net loss of $45.1 million for the three months ended December 31, 2025, compared to a net loss of $41.5 million in the same period of 2024[83] - Net loss increased by $5.6 million, or 10%, for the three months ended December 31, 2025, attributed to higher general and administrative and sales and marketing expenses[213] Cash and Liquidity - Cash and cash equivalents decreased to $452.563 million from $690.768 million as of September 30, 2025, reflecting a decline of 34.4%[15] - Cash, cash equivalents, and restricted cash as of December 31, 2025, totaled $477.774 million, down from $654.409 million at the end of the same period in 2024, indicating a decrease of approximately 27%[22] - The company’s restricted cash increased to $25.2 million as of December 31, 2025, from $23.9 million on September 30, 2025[38] - The 2024 Credit Agreement requires the Company to maintain Total Liquidity of no less than $150 million through December 31, 2025, and no less than $100 million thereafter[100] - As of December 31, 2025, the Company had $121.7 million in outstanding letters of credit under the 2024 Revolver, with remaining availability of $378.3 million[101] Expenses - Research and development expenses increased to $18.541 million from $17.195 million, reflecting a rise of 7.8%[16] - Sales and marketing expenses rose to $22.031 million from $18.202 million, an increase of 21.5%[16] - General and administrative expenses increased by $5.1 million, or 14%, for the three months ended December 31, 2025, largely due to higher legal and consulting services[207] - Cost of goods and services for the same period was $7.2 million, up from $2.9 million in 2024, indicating a rise of about 150%[144] - Stock-based compensation expense totaled $5.3 million for the three months ended December 31, 2025, slightly down from $5.3 million in 2024[155] Assets and Liabilities - Total current assets decreased to $1.986 billion from $2.064 billion, a reduction of 3.8%[15] - Total liabilities decreased to $1.781 billion from $1.808 billion, a decrease of 1.5%[15] - Total stockholders' equity decreased to $488.224 million from $548.848 million, a decline of 11%[15] - The company's total lease liabilities decreased to $12.9 million as of December 31, 2025, from $15.3 million at the end of September 2025[94] - Accruals increased to $278.0 million as of December 31, 2025, compared to $246.2 million at the end of September 2025[95] Revenue Recognition and Deferred Revenue - Revenue is primarily generated from energy storage products and solutions, operational services, and digital applications, with revenue recognition based on the percentage of completion method[39][40] - The company reported a deferred revenue of $163.257 million for the three months ended December 31, 2025, compared to $316.723 million in the same period of 2024, indicating a decrease of about 48%[22] - Deferred revenue at the end of the period increased to $804.5 million from $572.7 million year-over-year, reflecting a growth of approximately 40%[86] - As of December 31, 2025, the company had $5.5 billion in remaining performance obligations, with an expected revenue recognition of 57% to 62% within the next 12 months[88] Stock and Equity - The company reported a loss per share of Class A common stock of $0.34 for Q4 2025, compared to a loss of $0.32 in Q4 2024[16] - Basic loss per share for Class A common stock is calculated by dividing net loss attributable to Class A common stockholders by the weighted average number of shares outstanding[81] - The Company has two classes of common stock, Class A and Class B-1, with Class B-1 shares not entitled to distributions or dividends[81] - As of December 31, 2025, there were 1,739,395 stock options outstanding under the 2020 Unit Option Plan with no unrecognized stock compensation expense[147] - The 2021 Incentive Award Plan had 2,081,778 restricted stock units (RSUs) outstanding as of December 31, 2025, with an unrecognized stock compensation expense of $21.1 million[149] Financing and Debt - The Company issued $400.0 million aggregate principal amount of 2.25% convertible senior notes due 2030[71] - The interest expense for the 2030 Convertible Senior Notes for the three months ended December 31, 2025, was $2.7 million, compared to $571,000 for the same period in 2024[110] - The initial conversion rate for the 2030 Convertible Senior Notes is 46.8472 shares per $1,000 principal amount, equating to an initial conversion price of approximately $21.35 per share[103] - The Company entered into capped call transactions to offset potential dilution from the conversion of the 2030 Convertible Senior Notes[73] Market and Growth - The global utility-scale battery storage market is projected to add approximately 3,201 GWh between 2024 and 2035, driven by the transition to renewable energy[170] - The contracted backlog for energy storage products rose to 9.7 GW, reflecting a 7% increase from 9.1 GW[175] - The pipeline for energy storage products expanded to 41.8 GW, a significant 17% increase from 35.7 GW[175] - Contracted order intake for digital contracts reached 4.3 GW, a 34% increase from 3.2 GW in the same period last year[175] - Assets under management for services increased to 6.2 GW, an 11% rise from 5.6 GW[175] Legal and Compliance - The Company is involved in ongoing litigation seeking approximately $37.0 million in damages related to an energy storage facility, with a cross-complaint against it for $25.0 million[132] - The Company has received limited treasury services from The AES Corporation, recorded in "General and administrative expenses"[140]
Lesaka(LSAK) - 2026 Q2 - Quarterly Report
2026-02-04 21:11
Merchant Division Performance - Lesaka's Merchant Division reported an 8% increase in active merchants, reaching 132,443 in Q2 2026 compared to 122,846 in Q2 2025[238]. - The Merchant Division's Average Revenue Per User (ARPU) decreased by 10% to ZAR 1,835 in Q2 2026 from ZAR 2,030 in Q2 2025[238]. - The Merchant Division's Total Payment Volume (TPV) from Supplier Enabled Payments grew by 46% to ZAR 9.0 billion in Q2 2026 from ZAR 6.1 billion in Q2 2025[238]. - Merchant segment revenue decreased by 9% to $131.919 million[284]. Consumer Division Performance - The Consumer Division saw a 21% increase in active consumers, growing to 2.0 million in Q2 2026 from 1.6 million in Q2 2025[247]. - Lending origination in the Consumer Division surged by 88% to ZAR 1,156 million in Q2 2026, up from ZAR 617 million in Q2 2025[247]. - The Consumer Division's gross written premium from insurance policies increased by 38% to ZAR 134 million in Q2 2026 from ZAR 97 million in Q2 2025[247]. - Consumer segment revenue increased by 40% to ZAR 1,105,741, driven by higher transaction fees and loan originations[320]. Enterprise Division Performance - The Enterprise Division's Total Payment Volume (TPV) increased by 18% to ZAR 11.9 billion in Q2 2026 from ZAR 10.1 billion in Q2 2025[252]. - Enterprise segment revenue increased by 38% to ZAR 515,131, primarily due to the inclusion of Recharger[320]. Financial Performance - Revenue for the second quarter of fiscal 2026 increased by $2.5 million, or 1.4% in U.S. dollars, but decreased by ZAR 97.6 million, or 3.1% in ZAR, primarily due to a decrease in prepaid airtime sold[273]. - Consolidated revenue for the second quarter of fiscal 2026 was $178.734 million, a 1% increase from $176.216 million in the same period of fiscal 2025[284]. - Group Adjusted EBITDA for the second quarter of fiscal 2026 was $17.777 million, a 54% increase from $11.580 million in the same period of fiscal 2025[284]. - Operating income for the second quarter of fiscal 2026 was $2.15 million, a 293% increase compared to $547,000 in the same period last year[269]. - Operating income margin for the second quarter of fiscal 2026 was 1.2%, compared to 0.3% in the same period of fiscal 2025[278]. Cost and Expenses - Cost of goods sold, IT processing, servicing, and support decreased by $8.2 million (ZAR 244.7 million), or 6.2% (in ZAR 10.4%), primarily due to lower prepaid airtime costs[274]. - Selling, general and administration expenses increased by $3.9 million (ZAR 38.3 million), or 10.8% (in ZAR 5.9%), mainly due to the inclusion of Recharger and higher employee-related expenses[275]. - Depreciation and amortization expense increased by $5.3 million (ZAR 85.1 million), or 65.0% (57.8%), due to changes in useful life for certain intangible assets and acquisition-related amortization[276]. Taxation - The effective tax rate for fiscal 2026 was impacted by a tax expense of $0.7 million compared to a tax benefit of $(6.4) million in fiscal 2025[282]. - Total South African taxes paid in the first half of fiscal 2026 amounted to $4.994 million (ZAR 84.493 million), an increase from $3.068 million (ZAR 55.871 million) in the same period of fiscal 2025, representing a year-over-year increase of 62%[354]. - Total tax paid in the first half of fiscal 2026, including foreign taxes, was $5.138 million, up from $3.208 million in the first half of fiscal 2025, representing a 60% increase[354]. Cash Flow and Financing - Net cash utilized in operating activities during the second quarter of fiscal 2026 was $10.9 million, compared to $9.2 million in the same quarter of fiscal 2025[348]. - Cash and cash equivalents as of December 31, 2025, totaled $69.5 million, including ZAR 1.1 billion ($65.6 million) in ZAR-denominated balances[337]. - Long-term borrowings outstanding as of December 31, 2025, amounted to ZAR 3.6 billion ($217.1 million)[344]. - Cash flows from financing activities in the second quarter of fiscal 2026 included $20.5 million utilized from banking facilities to support Consumer lending growth, with $12.4 million repaid during the same period[359]. Acquisitions and Strategic Initiatives - The company closed the acquisitions of Adumo and Recharger in fiscal 2025, integrating their businesses into its operations[265]. - Lesaka finalized the lease for a new head office in Johannesburg, consolidating three offices into one hub to enhance operational efficiency[231]. - Lesaka's new brand launched in November 2025 aims to create a unified identity for customers and employees, supporting strategic initiatives for growth[230]. Other Financial Metrics - Net interest charge decreased to $4.08 million (ZAR 69.9 million) from $5.55 million (ZAR 99.4 million), primarily due to lower interest expenses[267]. - The company recorded an increase in the fair value of Cell C of $3.0 million (ZAR 50 million) during the second quarter of fiscal 2026[279]. - The company incurred transaction costs related to acquisitions totaling $141,000 for the six months ended December 31, 2025[334].
Snap(SNAP) - 2025 Q4 - Annual Results
2026-02-04 21:11
Exhibit 99.1 Snap Inc. Announces Fourth Quarter and Full Year 2025 Financial Results Fourth quarter revenue increased 10% year-over-year to $1,716 million Fourth quarter gross margin of 59%, up 4 percentage points sequentially and 2 percentage points year-over-year Fourth quarter operating cash flow was $270 million and Free Cash Flow was $206 million Fourth quarter net income of $45 million and Adjusted EBITDA of $358 million SANTA MONICA, Calif. – February 4, 2026 – Snap Inc. (NYSE: SNAP) today announced ...