Financial Performance - Net sales for Q1 2026 were $251.1 million, representing a 22% year-over-year growth[4] - GAAP gross margin increased to 52.3%, up from 48.3% a year ago, while Non-GAAP adjusted gross margin rose to 53.5% from 49.8%[4] - GAAP diluted earnings per share improved to $0.22 compared to a loss of $0.36 a year ago, and Non-GAAP adjusted diluted earnings per share increased to $0.38 from $0.06[4] - Adjusted EBITDA margin for Q1 2026 was 22.1%, up from 16.1% a year ago[4] - Operating income for Q1'26 was $36.0 million, up from $21.2 million in Q4'25 and $3.1 million in Q1'25, indicating a strong operational performance[25] - Net income for Q1'26 was $19.3 million, compared to $39.1 million in Q4'25 and a loss of $23.2 million in Q1'25, reflecting improved profitability[25] - Free cash flow for Q1'26 was $26.2 million, down from $30.9 million in Q4'25 but a significant improvement from a negative $1.4 million in Q1'25[29] - The adjusted net income (Non-GAAP) for Q1'26 was $33.9 million, slightly down from $34.5 million in Q4'25[37] Debt and Liquidity - The company made a $10 million term loan principal prepayment in Q1 and an additional $15 million in Q2 2026 to prioritize debt reduction[3] - Interest expense decreased to $6.2 million in Q1 2026 from $22.7 million a year ago[5] - Current liabilities decreased to $236.0 million from $283.0 million in the previous quarter, indicating improved liquidity[27] Outlook and Projections - The outlook for Q2 2026 includes projected net sales of $256.0 million, with an adjusted diluted earnings per share estimate of $0.40[6] - The company expects a normalized tax rate of 15% for fiscal year 2026, applied to each quarter[15] Operational Efficiency - Adjusted operating margin for Q1 2026 was 19.0%, compared to 12.2% a year ago[5] - The company reported a basic earnings per share of $0.22 for Q1'26, down from $0.48 in Q4'25 but an improvement from a loss of $0.36 in Q1'25[25] - The segment gross margin for Signal Integrity was 65.5% in Q1'26, while Analog Mixed Signal and Wireless had a gross margin of 62.3%[31] - The operating margin (GAAP) improved to 14.3% in Q1'26, up from 8.5% in Q4'25 and 1.5% in Q1'25[34] - Selling, general and administrative expenses (GAAP) decreased to $46.4 million in Q1'26 from $54.5 million in Q4'25[34] - The adjusted operating expenses (Non-GAAP) were $86.6 million in Q1'26, compared to $83.7 million in Q4'25[34] Strategic Focus - The company continues to invest strategically in innovation and operational scale to support long-term growth[3] - The company continues to focus on high-performance semiconductor and IoT systems, aiming to enhance its market position and expand its product offerings[22]

Revenue and Growth - Total revenue for fiscal year 2025 was $278.4 million, an increase of $18.9 million or 7.3% compared to $259.5 million in fiscal year 2024[182]. - Service revenue reached $181.4 million in fiscal year 2025, up $11.9 million or 7.0%, accounting for 65.2% of total revenue[183]. - Distribution segment sales increased by 7.8% to $97.0 million in fiscal year 2025, representing 34.8% of total revenue[184]. - Service revenue increased by $11.9 million, or 7.0%, in fiscal year 2025, with $10.4 million attributed to acquisitions[209]. - Distribution sales rose by $7.0 million, or 7.8%, in fiscal year 2025, primarily due to $7.2 million from acquisitions[213]. - Service organic growth was in the high single-digit range for both the fourth quarter and full fiscal year 2025, driven by consistent demand in the Calibration business[246]. - The company expects a return to high single-digit organic Service revenue growth once the macroeconomic environment normalizes[248]. Profitability - Total gross profit was $89.5 million in fiscal year 2025, a 6.7% increase from $83.8 million in fiscal year 2024[185]. - Service gross profit was $60.7 million, reflecting a 5.9% increase from fiscal year 2024[216]. - Net income for fiscal year 2025 was $14.5 million, an increase of $0.9 million from $13.6 million in fiscal year 2024[187]. - Net income for fiscal year 2025 was 5.2% of total revenue, slightly down from 5.3% in fiscal year 2024[207]. - Adjusted EBITDA for FY 2025 was $39.7 million, a 2.9% increase from $38.6 million in FY 2024[226]. - Adjusted diluted earnings per share for FY 2025 was $2.29, down from $2.36 in FY 2024[230]. Expenses and Margins - Operating expenses were $71.6 million, or 25.7% of total revenue, compared to $64.0 million, or 24.7% of total revenue, in fiscal year 2024[186]. - Total operating expenses increased by $7.6 million, or 11.8%, to $71.6 million in FY 2025 compared to FY 2024[220]. - The Service segment gross margin decreased by 40 basis points to 33.4% in fiscal year 2025, while the Distribution segment gross margin increased by 20 basis points to 29.7%[185]. - Service gross margin for FY 2025 was 36.2% in Q4, up from 35.7% in Q4 FY 2024[217]. - Distribution gross margin for FY 2025 was 28.2% in Q4, an increase of 20 basis points compared to FY 2024[219]. Cash Flow and Financial Position - Cash provided by operating activities was $39.0 million in FY 2025, up from $32.6 million in FY 2024[238]. - Net cash provided by operating activities increased to $39.0 million in fiscal year 2025 from $32.6 million in fiscal year 2024, primarily due to increases in depreciation and amortization[240]. - Accounts receivable rose by $8.2 million in fiscal year 2025, including $7.7 million from acquisitions, compared to a $3.1 million increase in fiscal year 2024[240]. - The inventory balance decreased by $2.9 million in fiscal year 2025, following a $0.5 million increase in fiscal year 2024[240]. - The company has access to a revolving credit facility of $80.0 million through June 2026[232]. - The interest rate for the revolving credit facility ranged from 5.1% to 6.2% during fiscal year 2025, with a fixed rate of 3.90% on the 2018 Term Loan[251]. - As of March 29, 2025, the leverage ratio was 0.78, compared to 0.10 at March 30, 2024[235]. Acquisitions and Strategic Initiatives - Acquired revenue from recent acquisitions, including Martin and Becnel, contributed $10.4 million to the Service segment's growth[175]. - Business acquisitions totaled $87.4 million in fiscal year 2025, significantly higher than $12.9 million in fiscal year 2024[242]. - Management is implementing a diversification strategy in the Distribution segment to mitigate impacts from specific industries and enhance competitive differentiation[179]. Tax and Currency - The company expects an effective tax rate of 27.0% to 29.0% for FY 2026[222]. - The anticipated income tax rate for fiscal year 2026 is projected to range between 27.0% and 29.0%[249]. - Approximately 90% of total revenues for fiscal years 2025 and 2024 were denominated in U.S. dollars, with a 10% change in the value of the Canadian dollar or Euro impacting revenue by approximately 1%[253]. - A foreign exchange contract with a notional amount of $1.1 million was outstanding as of March 29, 2025, to mitigate currency risk[254]. Product Shipments and Backorders - Total pending product shipments decreased by $1.8 million, or 34.7%, at the end of fiscal year 2025 compared to fiscal year 2024[214]. - Backorders at the end of fiscal year 2025 were $2.7 million, down from $4.5 million at the end of fiscal year 2024[214].

Financial Performance - Q1 revenue was $688 million, a 12% year-over-year increase, with subscription revenue also growing 12% to $673 million[6]. - GAAP operating income was $39 million, representing 6% of total revenue, compared to a loss of $47 million in Q1 FY25[6]. - Non-GAAP operating income increased to $184 million, or 27% of total revenue, up from $133 million, or 22% of total revenue, in Q1 FY25[6]. - GAAP net income was $62 million, compared to a net loss of $40 million in Q1 FY25, with diluted net income per share at $0.35[6]. - Non-GAAP net income rose to $158 million, with diluted net income per share at $0.86, compared to $117 million and $0.65 in Q1 FY25[6]. - Operating cash flow was $241 million, or 35% of total revenue, while free cash flow was $238 million, also 35% of total revenue[6]. - Total revenue for the three months ended April 30, 2025, was $688 million, a 11.5% increase from $617 million in the same period of 2024[27]. - Subscription revenue increased to $673 million, up 11.6% from $603 million year-over-year[27]. - Net income for the three months ended April 30, 2025, was $62 million, compared to a net loss of $40 million in the same period of 2024[27]. - Non-GAAP net income for the same period was $158 million, up from $117 million year-over-year, resulting in a non-GAAP net margin of 23%[40]. - Free cash flow for the three months ended April 30, 2025, was $238 million, compared to $214 million in the same period of 2024, maintaining a free cash flow margin of 35%[43]. - Operating income for the three months ended April 30, 2025, was $39 million, a significant improvement from an operating loss of $47 million in the same period of 2024[37]. - Total operating expenses decreased to $494 million from $516 million year-over-year, reflecting a reduction in research and development costs[27]. - The company reported a gross profit of $533 million for the three months ended April 30, 2025, resulting in a gross margin of 77%[35]. Future Projections - For Q2 FY26, the company expects total revenue between $710 million and $712 million, reflecting a growth rate of 10% year-over-year[10]. - For the full year FY26, total revenue is projected to be between $2.850 billion and $2.860 billion, indicating a growth rate of 9% to 10% year-over-year[10]. Strategic Focus - The company is focusing on profitable growth and innovation in identity security solutions for large organizations[3]. Performance Obligations - Remaining performance obligations (RPO) reached $4.084 billion, up 21% year-over-year, while current remaining performance obligations (cRPO) grew 14% to $2.227 billion[6]. Cash Position - Cash and cash equivalents increased to $494 million as of April 30, 2025, compared to $409 million at the end of January 2025[30]. - Total assets decreased slightly to $9,365 million from $9,437 million at the end of January 2025[30].

Revenue and Financial Performance - Revenue of $276 million, up 4% year-over-year, and up 5% in constant currency[2] - Box reported revenue of $276,272,000 for the three months ended April 30, 2025, an increase of 4% compared to $264,658,000 for the same period in 2024[41] - GAAP revenue for the three months ended April 30, 2025, was $276,272, representing a 4.8% increase from $264,658 in 2024[49] - Full year FY26 revenue guidance expected to be in the range of $1.165 billion to $1.170 billion, up 7% year-over-year[17] - Q2 FY26 revenue guidance expected to be in the range of $290 million to $291 million, up 8% year-over-year[12] Profitability Metrics - GAAP operating margin of 2.3% and non-GAAP operating margin of 25.3%[2] - Non-GAAP diluted EPS of $0.30, compared to $0.39 in the prior year[7] - GAAP diluted earnings per share (EPS) of $0.02, compared to $0.08 in the prior year[7] - Non-GAAP net income attributable to common stockholders for the three months ended April 30, 2025, was $45,243, down 22.5% from $58,400 in 2024[46] - Net income attributable to common stockholders was $3,515,000, a decrease of 69% from $11,513,000 in the prior year[41] - Net income for the three months ended April 30, 2025, was $8,194, a decrease of 52.5% compared to $17,222 in the same period of 2024[44] Cash Flow and Liquidity - Box's cash and cash equivalents increased to $689,628,000 as of April 30, 2025, compared to $624,575,000 at the end of January 2025[38] - Cash, cash equivalents, and restricted cash at the end of the period increased to $691,279, up from $450,385 at the end of the same period in 2024[44] - Non-GAAP free cash flow for the three months ended April 30, 2025, was $118,337, compared to $123,244 in 2024, reflecting a decrease of 4.8%[46] - Non-GAAP free cash flow was not explicitly stated but is calculated as cash flows from operating activities less net capital expenditures, indicating liquidity and profitability[34] Expenses and Cost Management - Total operating expenses increased to $209,261,000, up from $188,399,000, primarily driven by higher research and development and sales and marketing expenses[41] - Stock-based compensation expense totaled $54,894,000 for the three months ended April 30, 2025, compared to $51,162,000 in the same period last year[41] Market Position and Innovations - Box continues to focus on expanding its market presence and enhancing its platform capabilities through enterprise AI and content management solutions[35] - New AI innovations introduced, including AI Agents for enhanced decision-making and productivity[3] Performance Obligations and Billings - Remaining performance obligations (RPO) of $1.469 billion, up 21% year-over-year, or 17% on a constant currency basis[7] - Remaining performance obligations (RPO) represent contracted revenue not yet recognized, which is a key indicator of future revenue growth[33] - Billings of $242.3 million, up 27%, or 17% on a constant currency basis[7] - Billings, which include sales to new customers and subscription renewals, are considered a significant performance measure for understanding sales activity[31] Deferred Revenue - Deferred revenue at the end of the period was $574,119, an increase from $513,572 in the previous year[49] Share Repurchase - Box repurchased approximately 1.6 million shares for approximately $50 million in Q1 FY26[9] - The company repurchased $49,659 of common stock during the three months ended April 30, 2025, compared to $32,134 in 2024[44] Future Guidance - The company provided guidance for GAAP net income per share attributable to common stockholders for the fiscal year ending January 31, 2026, to be between $0.16 and $0.20[51] - Non-GAAP operating margin for the fiscal year ending January 31, 2026, is projected to be 28.0%[53]

Financial Performance - Cato Corporation reported net income of $3.3 million or $0.17 per diluted share for Q1 2025, a decrease from $11.0 million or $0.54 per diluted share in Q1 2024[2]. - Sales for Q1 2025 were $168.4 million, down 4% from $175.3 million in Q1 2024, with same-store sales remaining flat[2][9]. - Total revenues for Q1 2025 were $170.2 million, compared to $177.1 million in Q1 2024[9]. Margins and Expenses - Gross margin as a percentage of sales decreased to 35.1% in Q1 2025 from 35.8% in Q1 2024, attributed to higher markdown sales[3][9]. - Selling, General and Administrative expenses decreased to $55.3 million in Q1 2025 from $56.8 million in Q1 2024, but as a percentage of sales, it increased to 32.8% from 32.4%[3][9]. - Interest and other income decreased to $1.2 million in Q1 2025 from $5.8 million in Q1 2024, primarily due to a prior year gain on sale of land[3][9]. Store Operations - The company closed eight stores during the quarter, reducing the total number of stores to 1,109 as of May 3, 2025, down from 1,171 stores a year earlier[4]. - Cato Corporation bought back 294,036 shares during the quarter[4]. Cash and Liabilities - Cash and cash equivalents increased to $31.3 million as of May 3, 2025, from $20.3 million[10]. - Current liabilities stood at $130.0 million as of May 3, 2025, compared to $130.7 million in the previous quarter[10].

Financial Performance - Total revenue for 2024 was $73.2 million, a 33.2% decrease from $109.7 million in 2023 due to higher interest rates impacting residential solar sales[7] - Adjusted EBITDA for 2024 was $2.0 million, down from $7.0 million in 2023, representing 2.7% of total revenue compared to 6.4% in the prior year[12][15] - Gross profit for 2024 decreased to $34.4 million (47.0% of total revenue) from $49.8 million (45.4% of total revenue) in 2023, driven by lower sales but improved operational efficiencies[7] - The company reported a net loss of $9.9 million in 2024, compared to net income of $4.8 million in 2023, primarily due to stock compensation and increased costs[12] - In Q4 2024, total revenue was $18.6 million, an 18.9% decrease from $23.0 million in Q4 2023, again attributed to higher interest rates[12] - Q4 2024 adjusted EBITDA increased to $3.1 million (16.8% of total revenue) from approximately $(0.9) million in Q4 2023, mainly due to a significant change in depreciation and amortization[12][15] - Total revenue for the year ended December 31, 2024, was $73,244,083, a decrease of 33.3% compared to $109,691,001 in 2023[22] - Net loss for the year ended December 31, 2024, was $9,872,358, compared to a net income of $4,845,069 in 2023[22] - The company reported a basic and diluted net loss per common unit of $(0.48) for the year ended December 31, 2024[22] Cash Flow and Assets - Cash and cash equivalents decreased to $5,634,115 as of December 31, 2024, from $8,022,306 in 2023, representing a decline of 29.6%[24] - Total assets increased to $60,976,116 as of December 31, 2024, up from $48,086,119 in 2023, reflecting a growth of 26.8%[20] - Total liabilities rose to $18,063,424 as of December 31, 2024, compared to $17,463,600 in 2023, an increase of 3.4%[20] - Cash flows used in operating activities for the year ended December 31, 2024, were $(8,716,717), compared to $11,977,134 in 2023[24] Operating Expenses and Investments - Operating expenses for the year ended December 31, 2024, totaled $84,073,855, down from $104,551,674 in 2023, a decrease of 19.6%[22] - The company made a significant investment of $3,000,000 in a related party during the year ended December 31, 2024[24] Related Party Revenue - Related party revenue for the year ended December 31, 2024, was $22,156,018, an increase of 43.3% from $15,464,852 in 2023[22] Non-Cash Transactions - Non-cash transactions related to operating lease liabilities amounted to $837.76 million[25] - Deferred equity issuance costs totaled $2.769039 billion[25] - Class A common stock issued to vendors reached $891.035 million[25] - Class A common stock issued to backstop investors was $156.946 million[25] - Preferred dividends amounted to $9.275795 million[25] Strategic Initiatives - The company completed the integration of Lumio's assets acquired in November 2024, as part of its market expansion strategy[6] - Zeo secured $4.0 million in December 2024 to develop a year-round sales force and expand market presence, aiming for growth in the second half of 2025[6] - The company achieved its sixth consecutive year of positive adjusted EBITDA, indicating a focus on operational efficiency[6] - Management expressed optimism for 2025, highlighting opportunities for acquiring renewable energy assets in a consolidating market[3]

Financial Performance - Total revenue for 2024 was $73.2 million, a 33.2% decrease from $109.7 million in 2023, primarily due to higher interest rates affecting residential solar sales[7] - Adjusted EBITDA for 2024 was $2.0 million, down from $7.0 million in 2023, representing 2.7% of total revenue compared to 6.4% in the previous year[12][15] - The company achieved its sixth consecutive year of positive adjusted EBITDA despite a challenging market environment[6] - Gross profit for 2024 decreased to $34.4 million (47.0% of total revenue) from $49.8 million (45.4% of total revenue) in 2023, driven by lower sales but improved operational efficiencies[7] - In Q4 2024, total revenue was $18.6 million, an 18.9% decrease from $23.0 million in Q4 2023, again impacted by higher interest rates[12] - Q4 2024 adjusted EBITDA increased to $3.1 million (16.8% of total revenue) from approximately $(0.9) million in Q4 2023, primarily due to a significant change in depreciation and amortization[12][15] - The net loss for 2024 was $9.9 million compared to a net income of $4.8 million in 2023, largely due to stock compensation and increased operational costs[12] - Total revenue for the year ended December 31, 2024, was $73,244,083, a decrease of 33% compared to $109,691,001 in 2023[22] - Net loss for the year ended December 31, 2024, was $9,872,358, compared to a net income of $4,845,069 in 2023[22] Cash Flow and Assets - Cash and cash equivalents decreased to $5,634,115 as of December 31, 2024, from $8,022,306 in 2023, representing a decline of 29.5%[24] - Total assets increased to $60,976,116 as of December 31, 2024, up from $48,086,119 in 2023, reflecting a growth of 26.5%[20] - Total liabilities rose to $18,063,424 as of December 31, 2024, compared to $17,463,600 in 2023, indicating an increase of 3.4%[20] - Operating expenses for the year ended December 31, 2024, totaled $84,073,855, down from $104,551,674 in 2023, a reduction of 19.6%[22] - Cash flows from operating activities resulted in a net cash used of $8,716,717 for the year ended December 31, 2024, compared to a net cash provided of $11,977,134 in 2023[24] Revenue Sources and Transactions - The company reported a significant increase in related party revenue, which rose to $22,156,018 in 2024 from $15,464,852 in 2023, marking a growth of 43.5%[22] - The company incurred $4,836,538 in depreciation and amortization expenses for the year ended December 31, 2024, compared to $1,841,874 in 2023, an increase of 162%[22] - The company issued convertible preferred stock, generating net proceeds of $9,221,649 during the year ended December 31, 2024[24] - Non-cash transactions related to operating lease liabilities amounted to $837.76 million[25] - Deferred equity issuance costs totaled $2.769039 billion[25] - Class A common stock issued to vendors reached $891.035 million[25] - Class A common stock issued to backstop investors was $156.946 million[25] - Preferred dividends amounted to $9.275795 million[25] Future Outlook - The company secured $4.0 million in December 2024 to develop a year-round sales force and expand market presence, aiming for growth in the second half of 2025[6] - Management expressed optimism for 2025, highlighting opportunities for acquiring renewable energy assets to enhance growth and market share[3] - Zeo Energy completed the integration of Lumio's assets acquired in November 2024 as part of its market expansion strategy[6]

Financial Performance - Total revenues for Q1 2025 were RMB 95,672.2 million (US$ 13,184.0 million), representing a 10% increase from RMB 86,812.1 million in Q1 2024[5] - Operating profit decreased by 38% to RMB 16,085.6 million (US$ 2,216.7 million) compared to RMB 25,973.7 million in the same quarter of 2024[7] - Net income attributable to ordinary shareholders was RMB 14,741.8 million (US$ 2,031.5 million), a decrease of 47% from RMB 27,997.8 million in Q1 2024[10] - Revenues for the three months ended March 31, 2025, increased to RMB 95,672,175, representing a growth of 10.0% compared to RMB 86,812,059 in the same period of 2024[26] - Operating profit decreased to RMB 16,085,563 for the three months ended March 31, 2025, down 38.5% from RMB 25,973,653 in the prior year[26] - Net income attributable to ordinary shareholders for the three months ended March 31, 2025, was RMB 14,741,829, a decline of 47.3% from RMB 27,997,826 in the same period of 2024[28] - Basic earnings per ADS were RMB 10.59 (US$ 1.46), down from RMB 20.33 in the same quarter of 2024[11] - Basic earnings per ordinary share decreased to 2.65 in 2025 from 5.08 in 2024, reflecting a decline of 47.8%[28] - Non-GAAP net income attributable to ordinary shareholders for the three months ended March 31, 2025, was RMB 16,915,962, down 44.8% from RMB 30,601,805 in 2024[36] Revenue Sources - Revenues from online marketing services increased by 15% to RMB 48,722.2 million (US$ 6,714.1 million) from RMB 42,456.2 million in Q1 2024[8] - Revenues from transaction services rose by 6% to RMB 46,950.0 million (US$ 6,469.9 million) compared to RMB 44,355.8 million in the same quarter of 2024[8] Expenses - Sales and marketing expenses surged by 43% to RMB 33,402.7 million (US$ 4,603.0 million) from RMB 23,410.7 million in Q1 2024[8] - Non-GAAP operating profit for Q1 2025 was RMB 18,259.7 million (US$ 2,516.3 million), a decrease of 36% from RMB 28,552.2 million in Q1 2024[9] - Research and development expenses rose to RMB 3,577,828 in 2025, an increase of 23.0% compared to RMB 2,909,620 in 2024[26] - Share-based compensation expenses included in total operating expenses were RMB 2,174,133 for the three months ended March 31, 2025[33] Cash and Liabilities - Cash, cash equivalents, and short-term investments totaled RMB 364.5 billion (US$ 50.2 billion) as of March 31, 2025, up from RMB 331.6 billion as of December 31, 2024[12] - Total liabilities increased to RMB 200,811,846 as of March 31, 2025, up from RMB 191,721,192, marking a rise of 4.7%[26] - Cash, cash equivalents, and restricted cash at the end of the period increased to RMB 135,258,089, up from RMB 114,704,917, indicating a growth of 17.9%[35] Strategic Plans - The company plans to continue investing in its ecosystem to support merchants and consumers amid external uncertainties[3] Share Information - The weighted-average number of ordinary shares outstanding increased slightly to 5,932,325 in 2025 from 5,907,021 in 2024[36]

Financial Performance - Net sales for Q4 fiscal 2025 increased by 10.7% to $593.9 million compared to Q4 fiscal 2024[5] - Full year net sales reached $2.5 billion, a 22.7% increase compared to fiscal 2024, primarily due to the Regional Homes acquisition[12] - Net income attributable to Champion Homes, Inc. for the twelve months ended March 29, 2025, was $198,413 thousand, a 35.3% increase from $146,696 thousand in 2024[38] - Full year net income increased by $51.7 million to $198.4 million, a 35.3% rise compared to fiscal 2024[15] - Adjusted EBITDA for fiscal 2025 increased by 16.2% to $285.1 million, with a margin of 11.5%[15] - Adjusted EBITDA for the twelve months ended March 29, 2025, reached $285,056 thousand, reflecting a 16.0% increase from $245,264 thousand in 2024[37] - Cash flows from operating activities for the year ended March 29, 2025, amounted to $240,857 thousand, compared to $222,704 thousand in 2024, indicating a growth of 8.1%[35] Profitability Metrics - Gross profit margin expanded by 740 basis points to 25.7% in Q4 fiscal 2025, reflecting the absence of prior year product liability costs[8] - Gross profit for the twelve months ended March 29, 2025, rose to $664,023 thousand, representing a 36.7% increase compared to $485,794 thousand in 2024[33] - Total Gross Profit for the twelve months ended March 29, 2025, reached $664,023, up from $485,794 in the previous year, indicating a 36.7% growth[40] - Adjusted Gross Profit for the twelve months ended March 29, 2025, was $664,023, compared to $520,294 for the same period in 2024, reflecting a 27.6% increase[40] Sales and Market Activity - U.S. homes sold in Q4 fiscal 2025 rose by 5.1% to 5,941 units, driven by increased demand[7] - Average selling price per U.S. home sold increased by 5.0% to $94,300 in Q4 fiscal 2025[5] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[30] Expenses and Investments - SG&A expenses increased by 37.5% to $427.0 million for fiscal 2025, driven by higher sales volume and investments in growth[14] - The company repurchased $20 million of its common stock during Q4 fiscal 2025, with a refreshed authorization for $100 million in future repurchases[11] Assets and Equity - Total assets as of March 29, 2025, increased to $2,110,408 thousand, up 9.7% from $1,923,341 thousand in 2024[31] - Retained earnings as of March 29, 2025, were $975,981 thousand, a significant increase of 12.6% from $866,485 thousand in 2024[31] - Cash, cash equivalents, and restricted cash at the end of the period increased to $610,338 thousand from $495,063 thousand, a rise of 23.2%[35] Acquisitions - Champion Homes announced the acquisition of Iseman Homes to expand retail capabilities[6]

Financial Performance - AutoZone reported net sales of $4.0 billion for Q2 FY2025, a 2.4% increase from Q2 FY2024[1] - Operating profit decreased by 4.9% to $706.8 million, and net income fell by 5.3% to $487.9 million, with diluted earnings per share at $28.29[3] - Total auto parts sales reached $3,874,366 for the 12 weeks ended February 15, 2025, representing a 2.3% increase compared to $3,786,339 in the same period last year[23] - Same store sales for domestic locations increased by 1.9% for the 12 weeks ended February 15, 2025, compared to a 0.3% increase in the prior year[24] - Cash flow from operations for the 12 weeks ended February 15, 2025, was $583,749, compared to $434,127 in the same period last year[21] Sales and Store Performance - Domestic same store sales increased by 1.9%, while international same store sales decreased by 8.2%, resulting in total company same store sales growth of 0.5%[1] - AutoZone's international same store sales grew by 9.5% on a constant currency basis, indicating strong performance despite currency fluctuations[5] - The company opened 45 new stores during the quarter, including 28 in the U.S., 13 in Mexico, and 4 in Brazil, bringing the total store count to 7,432[6] - Total company stores opened, net, was 45 for the 12 weeks ended February 15, 2025, compared to 26 in the same period last year[22] Inventory and Costs - Inventory increased by 10.4% year-over-year, with net inventory per store slightly improving to negative $161,000[4] - Inventory as of February 15, 2025, was $6,588,586, an increase from $5,970,175 the previous year[25] - Total lease cost per ASC 842 was $614,312 for the trailing four quarters ended February 15, 2025, up from $546,195 the previous year[19] Share Repurchase and Capital Management - AutoZone repurchased 100,000 shares at an average price of $3,291, totaling $329.4 million, with $1.3 billion remaining under its share repurchase authorization[3] - Cumulative share repurchases since fiscal 1998 reached $37,820,600, with remaining share repurchase authorization at $1,329,400[20] - Adjusted debt to EBITDAR ratio improved to 2.5 from 2.4 year-over-year, reflecting a disciplined approach to capital management[17] Tax and Returns - The effective tax rate for the trailing four quarters was 20.3%, slightly down from 20.5% in the previous year[19] - Adjusted after-tax return for the trailing four quarters was $3,351,080, an increase from $3,253,009 in the previous year[18] Operating Expenses - Gross profit margin remained flat at 53.9%, with operating expenses as a percentage of sales increasing to 36.0% from 34.6% last year[2] - Average sales per program per week increased to $14.7, up from $14.1 in the prior year[23] Strategic Focus - The company remains focused on expanding its domestic DIY and commercial sales while investing in growth initiatives[5]