1 FORWARD-LOOKING STATEMENTS EARNINGS CONFERENCE CALL FOURTH QUARTER 2025 Nimrod Ben-Natan, President & CEO Walter Jankovic, CFO February 19, 2026 1 During the course of this presentation, we will focus only on continued operations unless otherwise stated. Our Video business is now classified as discontinued operations. We will provide projections and other forward-looking statements regarding future events or the future financial performance of Harmonic, including expectations concerning our business and b ...

Group 1 - Chemed Corporation's Board of Directors has authorized an additional $300 million for stock repurchase under the existing share repurchase program, funded through operational cash and a revolving credit facility [1] - The company declared a quarterly cash dividend of 60 cents per share, payable on March 13, 2026, to shareholders of record as of February 23, 2026, marking the 219th consecutive quarterly dividend in its 54 years as a public company [2] - Chemed operates two wholly owned subsidiaries: VITAS Healthcare, the largest provider of end-of-life hospice care in the U.S., and Roto-Rooter, the leading provider of plumbing and drain cleaning services [3]

Core Viewpoint - Zimmer Biomet Holdings, Inc. has demonstrated strong financial performance in the fourth quarter of 2025 and for the full year, highlighting its strategic focus on growth and shareholder returns. Financial Performance - In Q4 2025, Zimmer Biomet reported net sales of $2.244 billion, a 10.9% increase year-over-year [2] - The company's net earnings for Q4 were $139.3 million, with a gross profit of $785.4 million [2] - For the full year, net sales reached $8.232 billion, reflecting a 7.2% increase from the previous year [3] - Operating cash flow for the year was $1.697 billion, and free cash flow was $1.172 billion [3] Earnings Per Share - Diluted earnings per share decreased by 41.7% to $0.70 in Q4, while adjusted diluted earnings per share increased by 4.8% to $2.42, exceeding estimates of $2.38 [2] Strategic Initiatives - The company has implemented a direct and specialized sales organization in the U.S. to drive long-term growth [2] - A new stock repurchase authorization of up to $1.5 billion has been approved, effective from February 9, 2026, with no expiration date, indicating a commitment to returning capital to shareholders [3] Acquisitions - The acquisition of Paragon 28, Inc. in April 2025 has been excluded from organic constant currency sales calculations to provide a clearer performance picture [4] - The company remains focused on delivering EPS and free cash flow growth, as emphasized by its leadership [4]

Core Insights - Optex Systems reported first-quarter fiscal 2026 results showing higher revenue and order growth, but faced margin pressure due to legacy programs and increased costs [4][7] - The company anticipates that the first quarter will represent the lowest profitability of the fiscal year, with expectations for sequential improvement in operating results as margins recover and revenue increases [1][7] Financial Performance - Operating income was $0.1 million, down from $0.9 million in the prior-year period, while net income was $0.2 million and adjusted EBITDA was $0.7 million [1][7] - Revenue for the quarter reached $9.1 million, reflecting an 11.6% year-over-year increase, but gross margin declined to 22.9% [3][7] - General and administrative expenses rose to $1.9 million, primarily due to higher labor costs, stock compensation, and professional services [2] Segment Performance - Optex-Richardson revenue increased by 55.9% year over year, driven by higher periscope production and increased XM30 activity, while AOC revenue declined by 20.1% due to lower volumes [6][8] - New orders totaled $7.9 million, up 31.7% year over year, with Optex-Richardson orders rising by 46.2% [15] Capital Investments and Stock Buyback - The board approved a new stock buyback program authorizing up to $10 million, replacing the prior program [5][17] - Management plans to invest approximately $2.4 million in fiscal 2026 for capital improvements aimed at expanding capacity and supporting new product development [19] Balance Sheet and Cash Flow - At the end of the quarter, the company had $5.8 million in cash, down from $6.4 million at fiscal year-end, with accounts receivable slightly decreasing to $4.4 million [11] - Inventory increased to $15.0 million as production ramped up for the XM30 program, while total working capital was reported at $21.2 million [12] Future Outlook - Management expects to generate net income and positive operating cash flow over the next nine months, with plans to fund capital investments through existing cash and operating cash flow [18] - The company anticipates additional laser filter awards as government funding resumes, which could positively impact future revenue [15]

Core Viewpoint - Ledyard Financial Group, Inc. has authorized the repurchase of up to 173,135 shares of its common stock, representing approximately 5% of its issued and outstanding shares, indicating a strategy to enhance long-term shareholder value [1][2]. Company Overview - Ledyard Financial Group, Inc. is headquartered in Hanover, New Hampshire, and serves as the holding company for Ledyard National Bank, which was founded in 1991. The bank offers a comprehensive range of banking, investment, and wealth management services [3]. Stock Information - Shares of Ledyard Financial Group, Inc. are traded on the OTCQX® Best Markets under the symbol LFGP, providing investors with access to the company's stock activity and financial results through its Investor Relations section on the bank's website [4].

Core Viewpoint - Advanced Drainage Systems, Inc. reported a slight increase in net sales and a significant rise in net income for the fiscal third quarter ended December 31, 2025, indicating positive financial performance despite a modest sales growth [1]. Financial Performance - Net sales increased by $2.8 million, or 0.4%, reaching $693.4 million [1]. - Net income rose by $11.7 million, or 14.3%, totaling $94.0 million [1]. - Net income per diluted share increased by $0.1 [1].

Core Viewpoint - SmartFinancial, Inc. has declared a quarterly cash dividend and authorized a new stock repurchase plan, indicating a commitment to returning value to shareholders while managing capital effectively [1][2]. Dividend Declaration - The board of directors declared a quarterly cash dividend of $0.08 per share of common stock, payable on March 2, 2026, to shareholders of record as of February 13, 2026 [1]. Stock Repurchase Plan - The 2026 Repurchase Plan allows SmartFinancial to repurchase up to $10 million of its common stock, effective from March 1, 2026, and expiring on February 28, 2027, unless extended [2]. - This new plan will replace the previous stock repurchase plan, which will be terminated upon the new plan's effectiveness [2]. Repurchase Mechanism - Repurchases under the 2026 Repurchase Plan may occur in the open market, through accelerated share repurchase programs, or in privately negotiated transactions, adhering to regulatory requirements [3]. - The plan does not obligate SmartFinancial to repurchase any specific amount of stock and can be modified or discontinued at the Board's discretion [3]. Company Overview - SmartFinancial, Inc. is a publicly-traded bank holding company for SmartBank, which is a full-service commercial bank established in 2007, with branches in Tennessee, Alabama, and Florida [4]. - The company's success is attributed to recruiting top talent, exceptional client service, strategic branching, and a disciplined lending approach [4].

Core Viewpoint - Verizon Communications reported fourth-quarter earnings, revenue, and wireless subscriber additions that exceeded Wall Street estimates, leading to a positive market reaction and a strong profit outlook for 2026 under new leadership [1]. Group 1: Financial Performance - Verizon's fourth-quarter earnings and revenue surpassed analyst expectations, indicating strong operational performance [1]. - The company announced a stock repurchase program of up to $25 billion over the next three years, reflecting confidence in its financial position and future growth [1]. Group 2: Subscriber Growth - Verizon achieved significant wireless subscriber additions, contributing to its overall positive earnings report and market performance [1]. Group 3: Future Outlook - The guidance for profits in 2026 was higher than expected, suggesting a robust growth trajectory under the new chief executive [1].

Core Insights - HomeTrust Bancshares, Inc. has completed its 5% stock repurchase program, repurchasing a total of 806,000 shares at an average price of $31.84 per share [1] - The Board of Directors has authorized an additional repurchase of up to 870,000 shares, representing approximately 5% of the currently outstanding shares [1] Company Overview - HomeTrust Bancshares, Inc. is headquartered in Asheville, North Carolina, and operates as the holding company for HomeTrust Bank, which has over 30 locations across North Carolina, South Carolina, East Tennessee, Southwest Virginia, and Georgia [2] - As of September 30, 2025, the company reported total assets of $4.6 billion [2] - The company aims to be recognized as a high-performing regional community bank and has received multiple accolades, including being named one of Bank Director's "Best U.S. Banks" and one of Forbes' "America's Best Banks" [2]

Core Viewpoint - HomeTrust Bancshares, Inc. has completed its 5% stock repurchase program and authorized an additional repurchase of up to 870,000 shares, reflecting a commitment to enhancing shareholder value [1] Company Overview - HomeTrust Bancshares, Inc. is headquartered in Asheville, North Carolina, and operates as the holding company for HomeTrust Bank, which has over 30 locations across North Carolina, South Carolina, East Tennessee, Southwest Virginia, and Georgia [2] - As of September 30, 2025, the company reported total assets of $4.6 billion [2] - The company aims to be recognized as a high-performing regional community bank and has received multiple accolades, including being named one of Bank Director's "Best U.S. Banks" and one of Forbes' "America's Best Banks" [2]