Core Insights - STMicroelectronics reported a net revenue of $3.33 billion for Q4 2025, reflecting a slight year-over-year increase of 0.2% and a sequential increase of 4.5% [3][4][7] - The company experienced a gross margin of 35.2%, which is a decrease of 250 basis points year-over-year but an improvement of 20 basis points compared to the previous quarter [4][10] - Operating income fell significantly to $125 million, down 66% year-over-year, largely due to $141 million in impairment and restructuring charges [3][11][12] - The net loss for the quarter was $30 million, translating to a diluted loss per share of $0.03, compared to a profit of $341 million and earnings per share of $0.37 in Q4 2024 [3][14] Financial Performance - Q4 2025 net revenues were $3.33 billion, with a gross profit of $1.17 billion, resulting in a gross margin of 35.2% [4][10] - The operating income for Q4 2025 was $125 million, with an operating margin of 3.8%, down from 11.1% in Q4 2024 [4][11] - For FY 2025, net revenues totaled $11.80 billion, a decrease of 11.1% from the previous year, with an operating income of $175 million [6][7] Segment Performance - The Analog products, MEMS and Sensors (AM&S) segment reported revenues of $1.45 billion, a 7.5% increase year-over-year [9][12] - The Power and Discrete products (P&D) segment saw a significant revenue decline of 31.6% year-over-year, totaling $412 million [9][12] - The Embedded Processing (EMP) segment generated $1.02 billion in revenue, a slight increase of 1.2% year-over-year [9][12] Cash Flow and Financial Position - Net cash from operating activities for Q4 2025 was $674 million, a decrease from $681 million in Q4 2024 [16][17] - Free cash flow for Q4 2025 was reported at $257 million, compared to $128 million in the same quarter last year [17][18] - The net financial position as of December 31, 2025, was $2.79 billion, reflecting total liquidity of $4.92 billion and total financial debt of $2.13 billion [19][62] Business Outlook - For Q1 2026, STMicroelectronics expects net revenues of approximately $3.04 billion, a sequential decrease of 8.7% [7][22] - The gross margin for Q1 2026 is projected to be around 33.7%, including about 220 basis points of unused capacity charges [7][22] - The company plans to invest between $2.0 to $2.2 billion in net capital expenditures for 2026 [7][21]

Core Insights - Verano Holdings Corp. reported its financial results for Q3 2025, showing a mixed performance with revenues slightly increasing from the previous quarter but declining year-over-year due to price compression and competition [1][5][6]. Financial Performance - Revenues for Q3 2025 were $202.8 million, a decrease of 6.4% from $216.7 million in Q3 2024 but an increase from $202.3 million in Q2 2025 [2][5]. - Gross profit was $95.2 million, representing 47% of revenue, down from 50% in Q3 2024 and 56% in Q2 2025, attributed to revenue declines and increased costs [6][8]. - The company reported a net loss of $43.8 million, or 22% of revenue, compared to a net loss of $42.6 million, or 20% of revenue in Q3 2024 [8][9]. - Adjusted EBITDA for Q3 2025 was $53.1 million, or 26% of revenue, down from $64.5 million, or 30% of revenue in Q3 2024 [9][30]. Operational Highlights - The company has expanded its retail footprint, opening its 82nd dispensary in Florida and increasing its Ohio locations to six [15]. - Verano secured a $75 million revolving credit facility, drawing $50 million to retire higher interest debt [15]. - The company is planning new product innovations for the upcoming retail holiday season, aiming for a strong finish to 2025 [4][5]. Balance Sheet and Liquidity - As of September 30, 2025, Verano's current assets totaled $385 million, with cash and cash equivalents at $83 million [13]. - The company had total debt of $401 million and working capital of $242 million [13][28]. Future Outlook - Management expressed optimism about long-term growth opportunities and plans for a transformative year in 2026, supported by infrastructure investments and brand performance improvements [4][5].

Core Viewpoint - STMicroelectronics reported its third quarter financial results for 2025, showing a slight increase in net revenues compared to the previous quarter but a year-over-year decline. The company anticipates a modest growth in the fourth quarter, indicating signs of market recovery despite challenges in gross margin and operating income [2][5][6]. Financial Performance - Third quarter net revenues reached $3.19 billion, a 15.2% increase quarter-over-quarter but a 2.0% decrease year-over-year [3][4][9]. - Gross margin was reported at 33.2%, slightly below the midpoint of the company's guidance, and down 460 basis points from the previous year [4][10]. - Operating income was $180 million, significantly lower than $381 million in the same quarter last year, reflecting a 52.9% decrease [4][11]. - Net income for the quarter was $237 million, down 32.3% from $351 million year-over-year [4][13]. Segment Performance - The Analog products, MEMS and Sensors (AM&S) segment saw revenues of $1.43 billion, a 7.0% increase year-over-year, while the Power and Discrete products (P&D) segment experienced a 34.3% decline [9][12]. - The Embedded Processing (EMP) segment reported revenues of $976 million, up 8.7% year-over-year, while the RF & Optical Communications (RF&OC) segment's revenues decreased by 3.4% [9][19]. Business Outlook - For the fourth quarter of 2025, STMicroelectronics projects net revenues of approximately $3.28 billion, representing a sequential increase of 2.9% and a gross margin of around 35.0% [5][26]. - The full-year revenue forecast for 2025 is approximately $11.75 billion, indicating a 22.4% growth in the second half compared to the first half [6][10]. Cash Flow and Financial Position - Net cash from operating activities was $549 million for the third quarter, down from $723 million in the previous year [14][15]. - The company reported a net financial position of $2.61 billion as of September 27, 2025, reflecting strong liquidity [17][59]. Corporate Developments - STMicroelectronics announced the acquisition of NXP's MEMS sensor business for up to $950 million, expected to close in the first half of 2026, which will be financed with existing liquidity [18].

Financial Performance - Revenue decreased by 11% year-over-year, from $820 million in Q2 2024 to $731 million in Q2 2025[11, 16] - Adjusted EBITDA decreased by 42% year-over-year, from $161 million in Q2 2024 to $93 million in Q2 2025[11, 24] - Adjusted EBITDA margin decreased by 690 basis points year-over-year, from 19.6% in Q2 2024 to 12.7% in Q2 2025[11, 24] - Free cash flow was a use of $55 million in Q2 2025, compared to a generation of $84 million in Q2 2024[11] - Net loss attributable to Tronox was $84 million in Q2 2025, compared to a net income of $16 million in Q2 2024[11] Operational Highlights - TiO2 volumes decreased by 11% year-over-year and 2% sequentially[10, 20] - Zircon volumes decreased by 10% year-over-year and increased 1% sequentially[10, 20] - The company is executing a cost improvement program targeting $125-$175 million in run-rate savings by the end of 2026[10] - Capital expenditures were $83 million in Q2 2025, with approximately 56% allocated to maintenance and safety, and 44% to mining extensions[13, 35] - The company reduced the dividend by 60% to $0.05 per share for Q3 2025[36, 37, 38]

Core Insights - STMicroelectronics reported a significant decline in financial performance for Q1 2025, with net revenues of $2.52 billion, a decrease of 27.3% year-over-year and 24.2% quarter-over-quarter [3][5][6] - The gross margin fell to 33.4%, down 830 basis points from the previous year, primarily due to product mix and higher unused capacity charges [3][8] - Operating income plummeted to $3 million, a 99.5% decrease compared to the same quarter last year, resulting in an operating margin of only 0.1% [3][9] Financial Performance - **Net Revenues**: $2,517 million in Q1 2025, down from $3,321 million in Q4 2024 and $3,465 million in Q1 2024 [3][7] - **Gross Profit**: $841 million, a decrease of 41.7% year-over-year [8] - **Operating Income**: $3 million, down from $551 million in Q1 2024 [9] - **Net Income**: $56 million, an 89.1% decline from $513 million in the previous year [3][9] - **Diluted Earnings Per Share**: $0.06, compared to $0.54 in Q1 2024 [3][9] Segment Performance - **Analog, Power & Discrete, MEMS and Sensors (APMS)**: Net revenues of $1,466 million, down 28.0% year-over-year [7] - **Embedded Processing (EMP)**: Net revenues of $742 million, a decrease of 29.1% year-over-year [7] - **RF & Optical Communications (RF&OC)**: Net revenues of $306 million, down 19.2% year-over-year [7] Business Outlook - The company anticipates Q2 2025 net revenues of $2.71 billion, representing a sequential increase of 7.7% but a year-over-year decrease of 16.2% [5][21] - Gross margin is expected to remain around 33.4%, impacted by unused capacity charges [6][21] - The company is on track with a program to reshape its manufacturing footprint and aims for annual cost savings in the high triple-digit million-dollar range by the end of 2027 [5][17] Cash Flow and Financial Position - **Net Cash from Operating Activities**: $574 million, down 51.5% from $859 million in Q1 2024 [13] - **Free Cash Flow**: Positive at $30 million, compared to negative $134 million in the previous year [14] - **Net Capex**: $530 million in Q1 2025, down from $967 million in Q1 2024 [14] - **Inventory**: Increased to $3.01 billion, with days sales of inventory at 167 days [15] Corporate Developments - The company has made adjustments to its segment reporting effective January 1, 2025, to optimize resources and implement synergies [4][43] - STMicroelectronics is focused on innovation and cost management to enhance competitiveness in a challenging market environment [6][17]

Table of Contents As filed with the Securities and Exchange Commission on May 3, 2023. Registration No. 333-271270 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Amendment No. 1 to Form F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 FIDELIS INSURANCE HOLDINGS LIMITED (Exact Name of Registrant as Specified in its Charter) (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) Bermuda 6331 Not Applicable (I. ...