Core Insights - The company achieved a 7% net sales growth in 2025, demonstrating resilience despite U.S. new pool construction nearing post-GFC lows [1] - Record full-year gross margins of 48% were achieved, reflecting a 700 basis point expansion over six years due to productivity gains and a shift towards higher-margin technology products [1] - The company successfully mitigated tariff headwinds by reducing China-sourced U.S. cost of sales exposure from 10% to approximately 3% by year-end [1] Market Expansion - The addressable market was expanded by making OmniX automation standard on all new variable speed pumps and gas heaters, lowering the entry barrier for pool modernization [1] - The company entered previously unserved segments with the launch of 4-horsepower pumps for large residential pools and a new pressure cleaner line, targeting approximately 100,000 annual unit opportunities [1] Commercial Segment Strengthening - The commercial segment was strengthened through the first full year of ChlorKing ownership and the expansion of the 'Hayward Hub' regional training and service network [1]