Core Insights - Elkem ASA, trading under the symbol ELKEF, is engaged in the production of advanced materials across various sectors, including silicones, silicon products, and carbon solutions, competing with global players in the materials industry [1] Financial Performance - On February 13, 2026, Elkem ASA reported an earnings per share (EPS) of -$0.02, which was below the estimated EPS of -$0.003, indicating negative earnings and a price-to-earnings (P/E) ratio of approximately -36.71 [2] - The company generated revenue of approximately $722 million, falling short of the estimated $837 million, with a price-to-sales ratio of about 1.11, suggesting investors are paying $1.11 for every dollar of sales [3] Valuation Metrics - Elkem ASA's enterprise value to sales ratio is approximately 1.65, providing insight into the company's valuation relative to its sales [4] - The enterprise value to operating cash flow ratio is around 20.62, indicating how many times the operating cash flow can cover the enterprise value, which is crucial for understanding financial health [4] Financial Stability - The company's debt-to-equity ratio is about 0.51, reflecting a moderate level of debt compared to equity, suggesting a balanced financing approach [5] - The current ratio of approximately 3.27 highlights Elkem ASA's strong ability to cover short-term liabilities with short-term assets, ensuring financial stability in the near term [5]

Materion Corporation 4Q 2025 Earnings Presentation February 12, 2026 © 2026 Materion Corporation | Agenda | | | --- | --- | | Introduction | Kyle Kelleher – Director, Investor Relations and Corporate FP&A | | Opening Remarks & Business Update | Jugal Vijayvargiya – President and Chief Executive Officer | | Financial Review | Shelly Chadwick – Vice President and Chief Financial Officer | | Q&A | Question and Answer Session | 2 © 2026 Materion Corporation Forward-looking Statements and Non-GAAP Financial Info ...

Core Viewpoint - PyroGenesis Inc. is set to build a commercial fumed silica reactor for USD 20 million in collaboration with HPQ Silicon Inc. and a joint venture partner, aiming to produce 1,000 tonnes per year of fumed silica [1][2][3] Company Overview - PyroGenesis is a leader in ultra-high temperature processes and engineering innovation, specializing in plasma-based technology for heavy industry and defense [1][14] - The company has a 35-year history in plasma technology and is involved in various sectors including aluminum, aerospace, and environmental services [14] Joint Venture Details - A non-binding memorandum of understanding (MOU) has been signed to form a joint venture (JV) for the fumed silica production plant [1][2] - The fumed silica reactor (FSR) will be financed by the JV partner, with terms yet to be finalized [2][3] - The JV will operate the system with the goal of selling fumed silica at market prices, and HSPI will charge a royalty for each kilogram sold [3][5] Production and Technology - The FSR will convert quartz into fumed silica in an eco-friendly process without harmful chemicals, expected to be delivered within 12 months of JV formation [6][11] - The technology aims to lower capital and operating costs, reduce CO2 emissions, and simplify logistics by producing fumed silica at a single location [13] Market Context - Fumed silica is widely used in various products, including cosmetics, pharmaceuticals, and construction materials, serving as a thickening and anti-caking agent [12] - The demand for fumed silica is expected to grow, positioning the JV to capture opportunities in the advanced materials market [16]

Core Viewpoint - HPQ Silicon Inc. has signed a non-binding memorandum of understanding (MOU) with a strategic partner to develop a commercial-scale fumed silica production plant with a capacity of 1,000 tonnes per year, valued at approximately US$20 million (C$27.3 million) [1][2]. Company Overview - HPQ Silicon Inc. is focused on innovation in advanced materials and critical process development, with a wholly owned subsidiary, HPQ Silica Polvere Inc. (HSPI) [1][2]. - The company aims to establish a commercial model for fumed silica production that can be replicated across multiple sites as demand increases [5][11]. Project Details - The proposed project involves forming a jointly owned operating company to build and operate the fumed silica facility, which will utilize HSPI's proprietary plasma-based Fumed Silica Reactor (FSR) technology developed by PyroGenesis Inc. [2][4]. - The strategic partner has secured project financing and will fund the construction of the facility [2][3]. Financial Structure - HSPI is expected to receive recurring royalties on each kilogram of fumed silica sold under an offtake arrangement with the strategic partner, although specific terms are yet to be agreed upon [4][5]. - This structure is designed to align the interests of HSPI and HPQ with long-term production performance while maintaining a capital-efficient profile [4][5]. Technical Validation - The completion of final agreements is contingent upon ongoing third-party testing and validation of fumed silica produced by HSPI's existing FSR pilot plant [6][8]. - Production samples have been delivered for testing to both the strategic partner and an independent laboratory in the U.S. to confirm the chemical and compositional characteristics required for commercial applications [6][8]. Market Context - Fumed silica is a critical industrial material used in various applications, including cosmetics, pharmaceuticals, food products, paints, coatings, sealants, and construction materials, due to its role as a thickening, anti-caking, and reinforcing agent [12].

Group 1 - The article discusses the continuation of revenue and profitability challenges in the trucking industry, highlighting the operational focus of Quipus Capital rather than market-driven dynamics [1] - Quipus Capital emphasizes a long-term investment strategy, preferring to evaluate companies based on their operational aspects and long-term earnings potential [1] - The management call indicates that most recommendations will be holds, reflecting a cautious approach in a bullish market environment [1] Group 2 - The article does not provide any specific stock positions or plans to initiate positions in the mentioned companies, indicating a neutral stance from the analyst [2] - There is a clear distinction made that past performance does not guarantee future results, underscoring the importance of independent due diligence by investors [3]

Core Viewpoint - Plaid Technologies Inc. has appointed Dr. Ian Flint as a Technical Advisor to enhance its graphene-enabled technologies and support their commercialization efforts [1][5]. Group 1: Appointment of Dr. Ian Flint - Dr. Flint has over 30 years of experience in process development, pilot plant design, and industrial-scale operations, with a focus on graphite and graphene technologies for more than 15 years [2]. - His career includes roles in mineral processing, teaching engineering, and leading projects in graphite and graphene development, as well as founding two technology startups [3]. - In his advisory role, Dr. Flint will focus on process optimization, scale-up readiness, and transitioning from laboratory work to commercial production [4]. Group 2: Company Strategy and Goals - Plaid is positioned at the intersection of advanced materials and industrial applications, aiming to leverage graphene for significant value [5]. - The CEO of Plaid, Guy Bourgeois, emphasized that Dr. Flint's expertise aligns with the company's objectives to advance graphene-enabled solutions into field testing and market adoption [5]. - The company aims to develop scalable and commercially viable graphene solutions for large industrial markets, enhancing its technical depth through Dr. Flint's appointment [5]. Group 3: Stock Options Granted - The company has granted Dr. Flint 75,000 stock options at an exercise price of $0.94 per share, which will vest quarterly over 12 months [6]. - These options are part of the company's long-term incentive plan approved by shareholders on October 30, 2025 [6].

Core Insights - The 2D Material Beyond Graphene Market is projected to grow from USD 3.07 Billion in 2025 to USD 4.40 Billion by 2035, with a CAGR of 3.67% during the forecast period from 2026 to 2035 [1][2] Market Drivers - The market expansion is primarily driven by the increasing demand for high-performance materials in next-generation electronics and semiconductor devices, leading to the adoption of advanced 2D materials like phosphorene, MXenes, and TMDs [2][5] - The rise in IoT devices and 5G technologies is further fueling the need for effective, lightweight, and scalable materials [5] Regional Analysis - North America is expected to dominate the market with over 35% share in 2025, supported by strong semiconductor and advanced materials production, robust R&D infrastructure, and significant funding for research [9] - Asia Pacific is anticipated to grow at the fastest CAGR of 6.90% from 2026 to 2035, driven by rapid industrialization and a strong electronics manufacturing base [10] Segmentation Analysis - By Type: Monolayer Phosphorene held a 65% market share in 2025 due to its superior electronic properties, while Few-Layer Phosphorene is the fastest-growing segment from 2026 to 2035 [6] - By Production Method: Liquid Phase Exfoliation dominated with a 62% share in 2025, while Chemical Vapor Deposition (CVD) is the fastest-growing method during the forecast period [7] - By Application: Electronics & Semiconductors accounted for a 35% share in 2025, with Energy Storage Systems being the fastest-growing segment [8] Recent Developments - ACS Material has been recognized for its role in expanding the use of 2D materials in optoelectronic devices and announced the commercial rollout of wafer-scale TMD films for 5G transistors and flexible electronics in 2025 [12]

Core Viewpoint - HPQ Silicon Inc. has increased its equity interest in Novacium SAS from 28.4% to 36.8%, reflecting a strategic move to enhance value participation as Novacium's technologies progress towards commercialization [1][5][11]. Transaction Details - The transaction involves HPQ acquiring an additional 8.4% interest in Novacium for a total consideration of C$4,033,425 (€2,500,000) through the issuance of common shares at a deemed price of C$0.18 per share [2][3]. - HPQ will issue a total of 22,407,916 common shares to three shareholders as part of this transaction [3]. Strategic Implications - The increased ownership is seen as a way to enhance HPQ's economic exposure to future upside while maintaining a disciplined investment approach [6][9]. - This move strengthens HPQ's participation in international revenues and royalty flows, particularly important given Novacium's portfolio of interdependent process technologies [7][8]. - The transaction is expected to improve alignment around intellectual property stewardship and commercialization strategy, reducing exposure to fragmented licensing and competing regional priorities [8][9]. Corporate Development Perspective - The increased stake enhances HPQ's flexibility regarding future strategic partnerships and value-realization paths while maintaining a disciplined capital deployment strategy [9]. - Management believes this transaction reduces execution risk by aligning HPQ more closely with Novacium's founders and technical leadership [9]. Technology Portfolio Expansion - Novacium represents a strategically important extension of HPQ's technology portfolio, focusing on multiple high-value platforms including battery materials, hydrogen systems, and circular-economy solutions [10][14]. - The company is developing silicon-based high-performance battery materials and hydrogen generation systems, which align with HPQ's broader energy-transition focus [15][16]. Execution Capabilities - Novacium's technical leadership and execution capabilities are considered key differentiators, allowing HPQ to extend its technical reach without duplicating infrastructure [18][19]. - The collaboration is expected to support execution across battery and hydrogen initiatives, reinforcing a partnership built around shared objectives and long-term value creation [20].

Core Insights - Palantir Technologies has been selected by President Trump to deploy AI systems aimed at detecting fraud, which has sparked renewed interest in the potential of advanced technology to enhance human capabilities [1][2] Company Summaries Palantir Technologies - Palantir specializes in real-time data integration and decision-making, leveraging its AI tools to detect fraud by analyzing large data streams and identifying anomalies [3][5] - The company is expected to report Q4 2025 earnings with projected revenue of approximately $1.34 billion, reflecting a year-over-year increase of about 62%, alongside an adjusted EPS of around $0.23 [5] Kraig Biocraft Laboratories - Kraig Biocraft Laboratories focuses on advanced materials, specifically recombinant spider silk, which is recognized for its exceptional strength, flexibility, and lightweight properties [6][7] - The company is scaling up production of spider silk and fulfilling sample orders for major brand companies, indicating progress towards commercial viability [9] NVIDIA - NVIDIA provides essential hardware for AI applications, with its GPUs and embedded AI systems being crucial for real-time processing in advanced wearable technologies [10][12] - The company is actively investing in AI development, including a significant $2 billion investment in CoreWeave to enhance AI factory capabilities [12] TE Connectivity - TE Connectivity specializes in ruggedized connectors and sensors, which are vital for the seamless operation of high-performance wearable systems [13][14] - The company's components are designed to function in harsh environments, making them suitable for advanced wearable technologies [13] Industry Outlook - The convergence of AI, advanced materials, and systems engineering is paving the way for the development of next-generation wearable technologies, which could significantly enhance human capabilities [15][16]

Core Insights - Smartkem, Inc. has announced a non-binding letter of intent to acquire 100% of Carbonium Core, Inc., a company specializing in nuclear-grade graphite for advanced reactor technologies [1][3] - The acquisition aligns with Smartkem's long-term materials roadmap and aims to enhance its advanced materials portfolio [2][4] Transaction Details - The proposed acquisition will involve Smartkem exchanging shares of Series B Convertible Preferred Stock valued at $120 million for Carbonium Core's outstanding shares [9] - The Series B Convertible Preferred Stock will be convertible into common stock at a rate of $1.00 per share, with no voting rights attached [10][11] - The transaction is expected to be completed by February 5, 2026, subject to due diligence and customary closing conditions [12] Strategic Fit - Carbonium Core's focus on producing nuclear-grade graphite domestically supports U.S. energy security and supply chain resilience [4][8] - The combination of Smartkem's materials chemistry and manufacturing capabilities with Carbonium Core's production platform aims to establish a secure supply chain for critical nuclear materials [4][8] Leadership Commentary - Smartkem's CEO emphasized the strategic importance of nuclear-grade graphite and its long-term demand drivers, highlighting the technical complexity of the market [5] - Carbonium Core's CEO noted the significance of domestic production capabilities for nuclear-grade graphite, reinforcing the potential of the partnership to enhance U.S. reactor technologies [5] Market Expansion - The acquisition is intended to expand Smartkem's reach into the nuclear-grade graphite market, which is critical for next-generation nuclear reactor technologies [8] - The transaction is seen as a logical extension of Smartkem's core competencies, providing opportunities for portfolio diversification and addressing global supply chain challenges [8]