Financial Performance - Interest expense increased to $4.2 million from $2.2 million, attributed to higher interest rates [1] - The company reported a net loss of $6.4 million, or $0.19 per diluted share, compared to a net loss of $35.0 million, or $1.04 per diluted share, in the prior-year quarter [1] - Adjusted net loss for the quarter was $6.0 million ($0.18 per diluted share), compared to $5.1 million ($0.15 per diluted share) in the year-ago quarter [1] Revenue and Profitability - Consolidated fourth-quarter revenue was $154.8 million, down from $163.3 million in the prior-year period, primarily due to softer customer demand in Global Seating and Trim Systems and Components segments [3] - Adjusted EBITDA increased to $2.3 million from $0.9 million a year earlier, with adjusted EBITDA margin rising to 1.5% from 0.6% [2] - For full-year 2025, consolidated revenue was $649.0 million, down from $723.4 million in 2024, driven by lower demand [6] Cash Flow and Debt Management - The company generated $33.7 million of free cash flow for the full year, up $21.5 million from 2024, attributed to improved working capital performance and lower capital expenditures [7] - Free cash flow enabled the company to reduce net debt by $35.8 million during the year, lowering the net leverage ratio to 4.1x trailing twelve-month adjusted EBITDA from 4.7x at the end of 2024 [8] Segment Performance - Global Seating fourth-quarter revenue was $70.7 million, down 5.6% year over year, but adjusted operating income improved to $1.8 million [9] - Global Electrical Systems fourth-quarter revenue increased 12.7% to $49.7 million, benefiting from previously awarded business wins [15] - Trim Systems and Components fourth-quarter revenue declined 22.5% to $34.4 million, reflecting lower demand tied to reduced North American Class 8 production volumes [15] Future Outlook - The company issued 2026 guidance of $660 million to $700 million in sales and $24 million to $30 million in adjusted EBITDA, driven by expected growth in Global Electrical Systems [5][16] - Management expects growth to be supported by strength in Global Electrical Systems, targeting over 10% growth in 2026 [14] - The 2026 outlook assumes improving conditions in end markets and continued ramp of new business, with a forecast for Class 8 heavy truck builds implying a 4% year-over-year increase [13]