1,673 material Form 8-K filings that 1,260 companies we cover made with the SEC in February 2026, each read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). All of them were written later, when past filings were added: a selection, not every 8-K of the month (see the note below).
Archrock reported fourth-quarter 2025 revenue of $377.1 million and net income of $116.8 million, both up from the fourth quarter of 2024, and gave 2026 guidance with net income of $306 million to $356 million and adjusted EBITDA of $865 million to $915 million. The fourth quarter included $22.9 million of sales and use tax benefits and $31.6 million of net asset sale gains that the company said were not in its 2025 guidance.
Q4 2025 revenue was $377.1 million versus $326.4 million in Q4 2024; net income was $116.8 million and EPS was $0.67 versus $0.34.
Q4 results included a $22.9 million cash net benefit from prior period sales and use tax audit settlements and $31.6 million of net gains from asset sales.
Excluding those items, full-year 2025 adjusted EBITDA would have been $846.4 million, against prior guidance of $835 million to $850 million.
The board approved an additional $100 million share repurchase authorization, with $117.7 million of capacity available as of December 31, 2025.
LifeStance reported fourth-quarter 2025 revenue of $382.2 million, up 17%, and net income of $11.7 million, compared with a net loss a year earlier, and issued 2026 guidance for revenue of $1.615 billion to $1.655 billion. The Board also approved a share repurchase program of up to $100 million and announced that Executive Chairman Kenneth Burdick will become non-executive Chairman effective March 16, 2026.
Q4 2025 revenue was $382.2 million, up 17%; full year revenue was $1,424.3 million, up 14%.
Q4 2025 net income was $11.7 million, versus a net loss of $7.1 million in Q4 2024; full year net income was $9.7 million.
2026 guidance: revenue of $1.615 billion to $1.655 billion and Adjusted EBITDA of $185 million to $205 million.
Board approved a repurchase program of up to $100 million of common stock; Kenneth Burdick moves to non-executive Chairman effective March 16, 2026.
Talos Energy reported a fourth-quarter 2025 net loss attributable to the company of $202.6 million, or $1.19 per diluted share, on total revenues of $392.2 million. The loss includes a $170.4 million non-cash ceiling test impairment, which the company says does not affect cash flows. The company also issued 2026 guidance calling for production of 85 to 90 thousand barrels of oil equivalent per day and capital expenditures of $500 million to $550 million.
Q4 2025 total revenues were $392.2 million; net loss was $202.6 million, or $1.19 per diluted share
Adjusted net loss was $76.5 million, or $0.44 per diluted share, for the quarter
Full-year 2025 net loss was $494.3 million, or $2.82 per diluted share; full-year revenues were $1,780.1 million
2026 guidance: production of 85 to 90 MBoe/d and capital expenditures of $500 million to $550 million
Par Pacific reported fourth-quarter 2025 net income attributable to stockholders of $77.7 million, or $1.53 per diluted share, compared with a net loss of $55.7 million in the same quarter of 2024. For the full year, net income was $369.4 million, or $7.16 per diluted share, versus a net loss of $33.3 million in 2024, while full-year revenue declined to $7.46 billion from $7.97 billion. The company also repurchased 6.5 million shares in 2025, reducing shares outstanding by 10%, and its board authorized a new $250 million repurchase program in February 2026.
Q4 2025 net income attributable to stockholders was $77.7 million ($1.53 per diluted share), versus a $55.7 million loss in Q4 2024.
Full-year 2025 net income was $369.4 million ($7.16 per diluted share), versus a $33.3 million loss in 2024.
Full-year 2025 Adjusted EBITDA was $633.5 million, compared with $238.7 million in 2024.
Full-year 2025 revenue was $7.46 billion, down from $7.97 billion in 2024; Q4 revenue was $1.81 billion, down from $1.83 billion.
Interparfums reported record fourth-quarter and full-year 2025 results, with full-year net sales of $1.49 billion (up 2%) and diluted EPS of $5.24 (up from $5.12). The company reaffirmed its 2026 outlook of $1.48 billion in sales and $4.85 in EPS and kept its annual dividend at $3.20 per share, but said it may revisit guidance later in 2026.
Fourth-quarter 2025 net sales rose 7% to $386 million and diluted EPS rose 16% to $0.88, while operating income fell 24% to $28 million.
Full-year 2025 operating income was $270 million, down 2% from $275 million, with operating margin of 18.2% versus 18.9%.
2026 guidance is $1.48 billion in sales and $4.85 EPS, unchanged; the company will monitor early-2026 developments before potentially revisiting it.
The Board approved a 2026 annual cash dividend of $3.20 per share, unchanged from 2025; the next $0.80 quarterly dividend is payable March 31, 2026.
UFP Technologies reported fiscal 2025 net sales of $602.8 million, up 19.5%, and GAAP diluted EPS of $8.75, up from $7.58. Fourth-quarter results were weaker: sales rose 3.4% to $148.9 million, but operating income fell 3.4% and adjusted EPS slipped to $2.44 from $2.46. Shareholders should note that the company attributed about $6.3 million of labor-related inefficiencies at its Illinois facility to 2025 results.
Full-year 2025 net income was $68.3 million, up 15.8%, and adjusted EPS was $9.76 versus $8.68 in 2024.
Fourth-quarter 2025 sales were $148.9 million, up 3.4%, with organic sales essentially flat; gross margin fell to 28.2% from 29.2%.
Full-year organic growth was approximately 1.5%, while acquisitions contributed $90.7 million of 2025 net sales.
Long-term debt fell to $123.0 million at December 31, 2025, from $176.9 million a year earlier.
Solaris reported fourth quarter 2025 revenue of $180 million, up 8% from the third quarter, and a net loss of $4 million, or $(0.04) per diluted Class A share, which included a $41 million loss on debt extinguishment. The company raised its first quarter 2026 Adjusted EBITDA guidance to $72-77 million and set second quarter guidance at $76-84 million. For shareholders, higher revenue and raised guidance are offset by a GAAP net loss driven by the debt charge.
Fourth quarter 2025 revenue of $180 million, up 8% sequentially and up from $96 million in fourth quarter 2024.
Net loss of $4 million, or $(0.04) per diluted Class A share, including a $41 million loss on extinguishment of the Term Loan.
Adjusted pro forma earnings of $0.35 per fully diluted share, compared with $0.12 a year earlier.
First quarter 2026 Adjusted EBITDA guidance raised to $72-77 million from $70-75 million; second quarter guidance set at $76-84 million.
Everus Construction Group reported fourth-quarter 2025 revenue of $1.01 billion, up 33.1%, and net income of $55.3 million, up 60.8%, with diluted EPS of $1.08 versus $0.67 a year earlier. For full-year 2025, net income rose 40.7% to $201.8 million and diluted EPS was $3.95, but free cash flow fell to $100.0 million from $128.8 million. The company also initiated 2026 guidance for revenue of $4.1 billion to $4.2 billion and EBITDA of $320 million to $335 million.
Q4 2025 revenue of $1.01 billion, up 33.1%; E&M revenue up 44.0% to $791.6 million, T&D revenue up 6.8% to $227.7 million
Q4 2025 diluted EPS of $1.08, compared with $0.67 in Q4 2024; full-year 2025 diluted EPS of $3.95, compared with $2.81
Full-year 2025 free cash flow of $100.0 million, down from $128.8 million, mainly from higher net capital expenditures and lower operating cash flow
2026 guidance: revenue of $4.1 billion to $4.2 billion, EBITDA of $320 million to $335 million, and gross capital expenditures of $90 million to $100 million
Matador Resources reported fourth-quarter 2025 net income of $192.5 million, down from $214.5 million a year earlier, and diluted EPS of $1.55 versus $1.71, while daily production reached a company record of 211,290 BOE. The company also gave 2026 guidance calling for oil production of 122,000 to 124,000 barrels per day and total D/C/E and midstream capital spending of $1.45 billion to $1.55 billion, a reduction of about 11% from 2025.
Q4 2025 oil and natural gas revenues were $702.8 million, down from $893.9 million in Q4 2024.
Q4 2025 adjusted EPS was $0.87, compared with $1.83 in Q4 2024 and $1.36 in Q3 2025.
2026 guidance: oil production of 122,000 to 124,000 Bbl/d, about 3% above 2025 actual production of 119,723 Bbl/d.
2025 shareholder returns totaled $218.9 million, including $163.1 million in dividends and $55.8 million in share repurchases.
Globus Medical reported fourth-quarter 2025 worldwide net sales of $826.4 million, up 25.7%, and GAAP diluted EPS of $1.03 versus $0.19 a year earlier. The company reaffirmed 2026 revenue guidance of $3.18 to $3.22 billion and raised its non-GAAP diluted EPS guidance to $4.40 to $4.50 from $4.30 to $4.40. The sales growth includes the Nevro acquisition; the base business excluding Nevro grew 10.6% in the quarter.
Q4 2025 worldwide net sales were $826.4 million, up 25.7%; base business excluding Nevro rose 10.6%.
Q4 2025 GAAP net income was $140.6 million; GAAP diluted EPS was $1.03 versus $0.19 in Q4 2024.
2026 revenue guidance reaffirmed at $3.18 to $3.22 billion; non-GAAP diluted EPS guidance raised to $4.40 to $4.50 from $4.30 to $4.40.
MGE Energy reported fourth-quarter and full-year 2025 results on February 24, 2026, with net income rising in both periods versus 2024. Electric segment growth was driven mainly by the Darien Solar Project and the Paris Battery Energy Storage System, both of which became operational in 2025.
Full-year 2025 net income was $135.9 million, or $3.72 per diluted share, versus $120.6 million, or $3.33 per share, in 2024.
Fourth-quarter 2025 net income was $23.3 million, or 64 cents per diluted share, versus $22.0 million, or 61 cents, a year earlier.
Full-year 2025 operating revenues were $743.7 million, up from $676.9 million in 2024.
Electric segment earnings rose $11.3 million in 2025, while gas segment earnings rose $2.5 million.
HP reported fiscal 2026 first-quarter results for the period ended January 31, 2026, with net revenue of $14.4 billion, up 6.9% from a year earlier, and non-GAAP diluted EPS of $0.81, up from $0.74. GAAP diluted EPS fell slightly to $0.58 from $0.59. HP kept its annual guidance but said it currently expects results closer to the low end of the range for GAAP EPS, non-GAAP EPS and free cash flow, citing rising memory costs.
Net revenue was $14.4 billion, up 6.9% (5.2% in constant currency) from $13.5 billion a year earlier.
GAAP diluted EPS was $0.58 versus $0.59; non-GAAP diluted EPS was $0.81 versus $0.74.
Fiscal 2026 guidance is maintained at non-GAAP diluted EPS of $2.90 to $3.20 and free cash flow of $2.8 to $3.0 billion, with results expected at the lower end.
Second-quarter non-GAAP diluted EPS is estimated at $0.70 to $0.76.
EOG Resources reported fourth quarter 2025 results on February 24, 2026, with revenue of $5,638 million, up from $5,585 million a year earlier. Net income fell to $701 million, or $1.30 per diluted share, from $1,251 million, or $2.23, in the fourth quarter of 2024, largely because impairments rose to $689 million. The filing also references first quarter and full year 2026 forecasts, but the figures for those forecasts are not in the text provided.
Q4 2025 revenue was $5,638 million versus $5,585 million in Q4 2024.
Q4 2025 net income was $701 million ($1.30 diluted EPS) versus $1,251 million ($2.23) in Q4 2024.
Q4 2025 impairments were $689 million versus $276 million in Q4 2024; excluding certain impairments, adjusted net income was $1,222 million ($2.27 per share), a non-GAAP measure.
Full year 2025 net income was $4,980 million ($9.12 per diluted share) versus $6,403 million ($11.25) in 2024.
LTC Properties reported fourth-quarter 2025 total revenues of $84.3 million, up from $52.6 million a year earlier, as it shifted its portfolio toward its SHOP senior housing segment. Diluted earnings per share were $2.11 versus $0.39, helped by a $78.1 million gain on sale of real estate, while diluted Core FFO per share rose to $0.70 from $0.65. The company also introduced 2026 guidance, including full-year diluted Core FFO per share of $2.75 to $2.79.
Q4 2025 total revenues were $84.3 million, compared with $52.6 million in Q4 2024.
Diluted EPS was $2.11, compared with $0.39, including a $78.1 million gain on sale of real estate.
Diluted Core FFO per share was $0.70, compared with $0.65; diluted Nareit FFO per share was flat at $0.72.
2026 guidance: full-year diluted Core FFO per share of $2.75 to $2.79; first-quarter diluted Core FFO per share of $0.66 to $0.68.
Axon reported fourth-quarter 2025 revenue of $797 million, up 39% year over year, and set 2026 guidance of 27% to 30% revenue growth. GAAP net income fell to $3 million from $135 million a year earlier, with an operating loss of $50 million, while non-GAAP net income rose to $178 million.
Q4 2025 revenue of $797 million, up 39% year over year; Software & Services revenue of $343 million, up 40%
Operating loss of $50 million; net income of $3 million, or $0.03 per diluted share, versus $135 million a year earlier
Non-GAAP net income of $178 million, or $2.15 per diluted share, versus $168 million a year earlier
2026 outlook of 27% to 30% revenue growth and 25.5% Adjusted EBITDA margin; new 2028 target of $6 billion in annual revenue
Mosaic reported a fourth-quarter 2025 net loss of $519 million, compared with net income of $169 million a year earlier, and cited $422 million in pre-tax notable items. For full year 2025, net income rose to $541 million from $175 million and adjusted EBITDA reached $2.4 billion, up 10 percent, though the company's 2026 phosphate and potash outlook was given without a change to prior guidance figures in the filing.
Q4 2025 net loss of $519 million, or diluted EPS of $(1.64), versus net income of $169 million in Q4 2024
Full-year 2025 net income of $541 million and diluted EPS of $1.70; adjusted EBITDA of $2.4 billion, up 10 percent
Q4 2025 adjusted EBITDA of $505 million, down from $594 million; net sales of $3.0 billion versus $2.8 billion
2026 outlook includes capital expenditures of approximately $1.5 billion and potash production of approximately 9 million tonnes
Resideo Technologies reported fourth-quarter and full-year 2025 results and gave a 2026 outlook. The full-year GAAP net loss of $527 million, driven by the expense of terminating the Indemnification Agreement with Honeywell, reversed a $116 million profit in 2024, while net revenue and Adjusted EBITDA rose. Shareholders face a large 2025 loss but a 2026 outlook calling for higher revenue and Adjusted EPS than 2025.
Full-year 2025 net loss of $527 million, compared with net income of $116 million in 2024, driven by the Indemnification Agreement termination expense; diluted loss per share was $3.77.
Full-year 2025 net revenue of $7.47 billion, up 11%, and Adjusted EBITDA of $833 million, up 20%.
Fourth-quarter 2025 net income of $136 million versus $23 million a year earlier; Adjusted EPS was $0.50 versus $0.59.
2026 outlook: net revenue of $7.8 billion to $7.9 billion and Adjusted EPS of $3.00 to $3.20, compared with 2025 Adjusted EPS of $2.68.
Merit Medical reported fourth-quarter 2025 revenue of $393.9 million, up 11%, and non-GAAP EPS of $1.04, up 12%. For fiscal 2026 it guided to total revenue of $1.610 billion to $1.630 billion and non-GAAP EPS of $4.01 to $4.15, implying growth of 6% to 8% and 5% to 8%, respectively.
Q4 2025 GAAP EPS was $0.63, up from $0.46 a year earlier; non-GAAP EPS was $1.04 versus $0.93.
Full-year 2025 revenue was $1.516 billion, up 12%, and non-GAAP EPS was $3.83, up 11%.
2026 guidance: revenue of $1.610 billion to $1.630 billion and non-GAAP EPS of $4.01 to $4.15, excluding possible effects of trade policies and unannounced acquisitions.
Verra Mobility reported fourth quarter 2025 revenue up 16% to $257.9 million and full year revenue up 11% to $979.1 million, with full year net income of $136.6 million versus $31.4 million in 2024. Fourth quarter Adjusted EPS fell to $0.30 from $0.33, and Adjusted EBITDA margin fell to 39% from 46%, while the company guided 2026 Adjusted EBITDA of $405 million to $415 million, compared with $415.9 million in 2025.
Q4 2025 revenue was $257.9 million, up 16% from $221.5 million; Q4 net income was $18.9 million, or $0.12 per share, versus a net loss of $66.7 million in Q4 2024, which included a goodwill impairment
Full year 2025 Adjusted EPS was $1.32, up from $1.23 in 2024; Q4 Adjusted EBITDA was $101.8 million versus $102.0 million a year earlier
2026 guidance: total revenue of $1,020 million to $1,030 million, Adjusted EBITDA of $405 million to $415 million, Adjusted EPS of $1.32 to $1.38, and Free Cash Flow of $150 million to $160 million
A new five-year New York City Department of Transportation contract, effective January 1, 2026, has a total value of $998 million; the company repurchased $133.4 million of its shares in Q4 2025
Supernus reported fourth-quarter and full-year 2025 results and issued 2026 guidance in a press release furnished as Exhibit 99.1. Revenue grew, but the company swung to a net loss, driven mainly by higher selling, general and administrative expenses, including about $72.9 million of Sage acquisition-related costs in 2025. The 2026 outlook projects total revenues of $840 million to $870 million and GAAP operating earnings of $0 to $30 million.
Q4 2025 total revenues were $211.6 million, up 21% from $174.2 million; full-year 2025 revenues were $719.0 million, up 9%.
Q4 2025 net loss was $4.1 million, or $0.07 per diluted share, versus net earnings of $15.3 million, or $0.27, a year earlier; full-year net loss was $38.6 million, or $0.68 per share.
2026 guidance: total revenues of $840 million to $870 million, GAAP operating earnings of $0 to $30 million, and adjusted operating earnings (non-GAAP) of $140 million to $170 million.
ONAPGO new patient initiation resumed in the first quarter of 2026; Q4 2025 ONAPGO net sales were $8.9 million.
Cytokinetics reported fourth quarter and full year 2025 results and gave 2026 guidance, while its MYQORZO heart drug launches in the U.S. Revenue rose from a year earlier, but the net loss widened sharply as the company built out its commercial operations. The company's 2026 GAAP combined R&D and SG&A expense guidance of $830 million to $870 million signals continued heavy spending.
Q4 2025 total revenues were $17.8 million, up from $16.9 million in Q4 2024; full year 2025 revenues were $88.0 million, up from $18.5 million.
Q4 2025 net loss was $183.0 million, or $(1.50) per share, versus a $150.0 million loss, or $(1.26) per share, a year earlier; full year net loss was $785.0 million, or $(6.54) per share, versus $589.5 million, or $(5.26) per share, in 2024
Cash, cash equivalents and investments were approximately $1.22 billion at December 31, 2025, including $100 million from a Royalty Pharma loan tranche.
2026 GAAP combined R&D and SG&A expense guidance is $830 million to $870 million.
CAVA Group reported fiscal fourth-quarter 2025 revenue of $272.8 million, up 21.2%, and net income of $4.9 million, down from $78.6 million a year earlier. That prior-year figure included an $80.1 million tax benefit from releasing a valuation allowance, and adjusted net income fell to $4.9 million from $6.5 million, while adjusted EBITDA rose 2.6% to $25.8 million. The company also gave fiscal 2026 guidance for adjusted EBITDA of $176.0 million to $184.0 million.
Q4 2025 CAVA revenue rose 21.2% to $272.8 million; same restaurant sales increased 0.5%.
Q4 2025 CAVA restaurant-level profit margin was 21.4%, down 100 basis points from 22.4% a year earlier.
Full-year 2025 revenue was $1,169.3 million, up 22.5%; adjusted net income rose 26.9% to $63.7 million.
Fiscal 2026 guidance includes adjusted EBITDA of $176.0 million to $184.0 million and same restaurant sales growth of 3.0% to 5.0%.
EXL reported fourth-quarter and full-year 2025 results, with revenue and earnings per share both up year over year. The company also issued 2026 guidance calling for revenue growth of 9% to 11%, and its board authorized a $500 million share repurchase program effective February 28, 2026.
Q4 2025 revenue was $542.6 million, up 12.7% from $481.4 million a year earlier; Q4 GAAP diluted EPS was $0.38, up from $0.31.
Full-year 2025 revenue was $2.09 billion, up 13.6%; GAAP diluted EPS was $1.54, up 28.0% from $1.21.
2026 guidance: revenue of $2.275 billion to $2.315 billion and adjusted diluted EPS of $2.14 to $2.19.
Board authorized a $500 million common stock repurchase program, effective February 28, 2026, for a two-year period.
GoDaddy reported fourth-quarter 2025 revenue of $1.3 billion, up 7% year over year, and net income of $245.1 million, up 23%. For full-year 2026, the company expects revenue of $5.195 billion to $5.275 billion, about 6% growth at the midpoint, and free cash flow of approximately $1.8 billion, compared with $1.6 billion in 2025.
Q4 2025 diluted earnings per share were $1.80, versus $1.36 a year earlier.
Full-year 2025 net income was $875.0 million, down from $936.9 million, which included a one-time, non-cash tax benefit of $34.6 million in 2025 and $267.4 million in 2024.
Q1 2026 revenue is expected in the range of $1.250 billion to $1.270 billion.
Full-year 2026 NEBITDA margin is expected to be over 33%.
Trex reported fourth-quarter and full-year 2025 results in a press release furnished as Exhibit 99.1. Full-year net sales rose 2.0% to $1.2 billion, but net income fell to $190 million from $238 million, and fourth-quarter net sales declined to $161 million from $168 million. The company also gave 2026 guidance for revenue of $1.185 billion to $1.230 billion and authorized a $150 million share repurchase for the first half of 2026.
Full-year net sales rose 2.0% to $1.2 billion; full-year net income was $190 million, or $1.78 per diluted share, versus $238 million, or $2.20, in 2024.
Fourth-quarter net sales were $161 million versus $168 million a year earlier; fourth-quarter net income was $2 million, or $0.02 per diluted share.
2026 guidance: revenue of $1.185 billion to $1.230 billion and adjusted EBITDA of $315 million to $340 million.
The board authorized a $150 million share repurchase program to be executed in the first half of 2026.
Matson reported fourth-quarter 2025 net income of $143.1 million, or $4.60 per diluted share, up from $3.80 a year earlier, while consolidated revenue fell to $851.9 million from $890.3 million. The company expects first-quarter 2026 Ocean Transportation operating income of about $50 million, lower than a year earlier, and expects full-year 2026 consolidated operating income to approach the 2025 level.
Q4 2025 diluted EPS $4.60 vs. $3.80 in Q4 2024; net income $143.1 million vs. $128.0 million
Q4 2025 revenue $851.9 million vs. $890.3 million; full-year 2025 net income $444.8 million and diluted EPS $13.81
Q1 2026 Ocean Transportation operating income expected at about $50 million; consolidated operating income expected lower than $82.1 million in Q1 2025
Board declared a $0.36 per share dividend payable March 5, 2026 to holders of record on February 5, 2026
Corcept reported fourth quarter and full-year 2025 results with revenue up from 2024 but net income and diluted earnings per share down. The company also gave 2026 revenue guidance of $900 million to $1,000 million, and said its Cushing's syndrome business was constrained by specialty pharmacy capacity and a fourth-quarter pharmacy transition.
Full-year 2025 revenue was $761.4 million, up from $675.0 million in 2024.
Full-year 2025 net income was $99.7 million, or $0.82 diluted per share, down from $141.2 million, or $1.23 diluted per share, in 2024.
Fourth-quarter 2025 revenue was $202.1 million, up from $181.9 million; fourth-quarter net income was $24.3 million, or $0.20 diluted per share, down from $30.7 million, or $0.26.
Full-year 2026 revenue guidance is $900 million to $1,000 million; cash and investments were $532.4 million at December 31, 2025.
First Solar reported fourth quarter and full-year 2025 results, with net sales of $1.7 billion for the quarter and $5.2 billion for the year, up from $4.2 billion in 2024. The company also issued 2026 guidance calling for net sales of $4.9 billion to $5.2 billion and Adjusted EBITDA of $2.6 billion to $2.8 billion, which compares with 2025 Adjusted EBITDA of $2.36 billion shown in the filing's reconciliation.
Q4 2025 net income per diluted share was $4.84, versus $3.65 in Q4 2024; full-year 2025 diluted EPS was $14.21, versus $12.02 in 2024
2026 guidance: volume sold of 17.0 GW to 18.2 GW, net sales of $4.9 billion to $5.2 billion, and year-end net cash balance of $1.7 billion to $2.3 billion
Year-end 2025 net cash balance was $2.4 billion, helped by proceeds from sales of 2025 Section 45X tax credits
Jazz Pharmaceuticals reported full-year 2025 total revenues of $4.3 billion, up 5%, and fourth-quarter revenues of $1.2 billion, up 10%, but its GAAP net result swung to a loss of $356 million for the year after a profit of $560 million in 2024. The company also guided to 2026 total revenues of $4.25 billion to $4.50 billion, which gives shareholders a revenue outlook while the 2025 loss was driven largely by acquired in-process R&D charges.
Full-year 2025 total revenues were $4.27 billion, up from $4.07 billion in 2024; fourth-quarter revenues were $1.20 billion, up 10%.
Full-year 2025 GAAP net loss was $356 million, or $5.84 per diluted share, compared with GAAP net income of $560 million, or $8.65 per diluted share, in 2024.
Acquired in-process R&D expense was $948 million in 2025, including $905 million for Modeyso from the Chimerix acquisition.
2026 guidance calls for total revenues of $4.25 billion to $4.50 billion.
Tanger reported fourth-quarter 2025 diluted net income of $0.29 per share, up from $0.23, and FFO of $0.63 per share, up from $0.54, with quarterly total revenues of $160.3 million versus $140.7 million a year earlier. The company also introduced full-year 2026 guidance of $2.41 to $2.49 in diluted FFO per share and $1.04 to $1.12 in diluted net income per share, and disclosed January 2026 financing transactions including $550 million of unsecured term loans.
Q4 2025 diluted net income was $0.29 per share ($33.2 million), versus $0.23 per share ($26.3 million) a year earlier
Full-year 2025 FFO was $2.33 per share ($278.0 million), versus $2.12 per share in 2024
2026 guidance: diluted FFO of $2.41 to $2.49 per share and diluted net income of $1.04 to $1.12 per share
January 2026 financing included $550 million of unsecured term loans and $250 million of 2.375% exchangeable senior notes due 2031
TransMedics reported fourth quarter 2025 revenue of $160.8 million, up 32% from a year earlier, and full year 2025 revenue of $605.5 million, up 37%. Net income was boosted by an $83.8 million tax benefit in the quarter, mainly from a one-time $103.3 million release of a deferred tax asset valuation allowance, and the company guided to 2026 revenue of $727 million to $757 million.
Q4 2025 revenue $160.8 million, up 32% from $121.6 million; net income $105.4 million, or $2.62 per diluted share, versus $0.19 a year earlier
Q4 net income includes an $83.8 million tax benefit, primarily a one-time $103.3 million valuation allowance release
Full year 2025 revenue $605.5 million, up 37%; net income $190.3 million, or $4.87 per diluted share
2026 revenue outlook of $727 million to $757 million, 20% to 25% growth; Q4 gross margin 58% versus 59% a year earlier
CoStar Group reported fiscal 2025 revenue of $3.2 billion, up 19%, and fourth-quarter revenue of $900 million, up 27%. Full-year net income fell to $7 million from $139 million in 2024, reflecting acquisition costs tied to Matterport and Domain, while Adjusted EBITDA rose 83% to $442 million. The company affirmed its 2026 revenue and Adjusted EBITDA guidance and plans to repurchase $700 million of stock in 2026.
Full-year 2025 revenue was $3.2 billion, up 19% from $2.7 billion; fourth-quarter revenue was $900 million, up 27% from $709 million.
Full-year 2025 net income was $7 million, or $0.02 per diluted share, versus $139 million, or $0.34 per diluted share, in 2024.
Full-year 2025 Adjusted EBITDA was $442 million, up 83%; full-year Adjusted EPS was $0.87 versus $0.73.
2026 guidance was affirmed: revenue of $3.78 billion to $3.82 billion and Adjusted EBITDA of $740 million to $800 million.
Workday reported fiscal fourth-quarter 2026 total revenues of $2.532 billion, up 14.5%, and GAAP diluted earnings per share of $0.55, up from $0.35 a year earlier. It also guided fiscal 2027 subscription revenues to $9.925 billion to $9.950 billion, or 12% to 13% growth, while restructuring expenses rose to $303 million for the full year from $84 million.
Q4 total revenues were $2.532 billion, up 14.5%; GAAP diluted EPS was $0.55 versus $0.35.
Fiscal 2026 total revenues were $9.552 billion, up 13.1%; GAAP operating income was $721 million versus $415 million.
Fiscal 2027 guidance: subscription revenues of $9.925 billion to $9.950 billion and non-GAAP operating margin of about 30.0%.
Co-founder Aneel Bhusri returned as chief executive officer; the company repurchased 12.8 million Class A shares for $2.9 billion in fiscal 2026.
MercadoLibre released fourth-quarter and full-year 2025 results on February 24, 2026, reporting net revenues and financial income of $8,759 million, up 45% year over year. Net income was $559 million, down 13% year over year, which the company attributed to a normalized tax rate compared with unusually low levels in Q4 2024. Income from operations included $99 million of one-off tax credits; excluding them, operating income declined 4% year over year, so shareholders face higher revenue alongside lower profit.
Q4 2025 net revenues and financial income: $8,759 million, up 45% year over year (47% FX-neutral)
Q4 2025 income from operations: $889 million (10.1% margin), including $99 million of one-off tax credits in Brazil; excluding them, operating income declined 4% year over year with a 9.0% margin
Q4 2025 net income: $559 million, down 13% year over year
Adjusted free cash flow: $763 million in Q4 2025 and $1.5 billion for full-year 2025
eXp World Holdings reported full-year 2025 revenue up 4% to $4.8 billion, but its net loss widened to $22.7 million from $21.3 million in 2024, and adjusted EBITDA fell to $33.2 million from $75.5 million. The company guided to 2026 full-year adjusted EBITDA of $50 million to $75 million and declared a $0.05 quarterly dividend. For shareholders, sales grew while profitability declined.
Full-year 2025 revenue rose 4% to $4.8 billion; net loss was $22.7 million, or $(0.14) per diluted share.
Full-year 2025 adjusted EBITDA was $33.2 million, compared with $75.5 million in 2024.
2026 outlook: full-year revenue of $4.85 billion to $5.15 billion and adjusted EBITDA of $50 million to $75 million.
Board declared a $0.05 per share dividend on February 10, 2026, payable March 27, 2026 to holders of record on March 9, 2026.
Expeditors International reported fourth-quarter 2025 results that declined from the same quarter of 2024, with diluted EPS down 11% to $1.49 and revenue down 3% to $2.9 billion. The company said ocean rates fell sharply and may remain soft in 2026, and its Board approved a new share repurchase program of up to $3 billion, which takes effect when the current program ends at 130 million outstanding shares.
Diluted EPS was $1.49 versus $1.68 a year earlier, down 11%; net earnings attributable to shareholders were $201 million, down 15%.
Operating income fell 17% to $251 million; ocean revenue per container fell 41% compared with the fourth quarter of 2024.
For full-year 2025, diluted EPS rose 4% to $5.95 and the company returned $875 million through dividends and share repurchases.
The Board authorized a new share repurchase program of up to $3 billion on February 23, 2026, effective when the current program expires at 130 million outstanding shares.
NexPoint Residential Trust reported a 2025 net loss attributable to common stockholders of $32.0 million, or $1.26 per diluted share, compared with net income of $1.1 million in 2024, as full-year revenue fell to $251.3 million from $259.7 million. It also issued initial 2026 guidance for a net loss of $1.26 to $1.54 per diluted share and Core FFO of $2.42 to $2.71 per diluted share, against $2.79 in 2025, which points to lower Core FFO for shareholders if the guidance holds.
Full-year 2025 net loss attributable to common stockholders was $32.0 million, or $1.26 per diluted share, versus net income of $1.1 million, or $0.04 per share, in 2024.
Total revenues were $251.3 million for 2025 versus $259.7 million in 2024; fourth-quarter revenues were $62.1 million versus $63.8 million.
Fourth-quarter 2025 net loss was $10.3 million, or $0.41 per share, versus $26.9 million, or $1.06 per share, a year earlier; Core FFO was $0.65 per diluted share versus $0.68.
2026 initial guidance: loss of $1.26 to $1.54 per diluted share and Core FFO of $2.42 to $2.71 per diluted share; Same Store NOI growth of -2.5% to 1.5%.
Harmony Biosciences reported fourth quarter and full year 2025 results, with WAKIX net product revenue up 21% in the quarter and 22% for the year. Fourth quarter GAAP net income fell to $22.5 million from $49.5 million, while full year GAAP net income rose to $158.7 million, and the company reiterated 2026 WAKIX net revenue guidance of $1.0 to $1.04 billion.
Q4 2025 net product revenue was $243.8 million, compared with $201.3 million in Q4 2024.
Q4 2025 GAAP net income was $22.5 million, or $0.38 per diluted share, versus $49.5 million, or $0.85, a year earlier.
Full year 2025 net product revenue was $868.5 million, compared with $714.7 million in 2024; full year GAAP net income was $158.7 million, or $2.71 per diluted share.
2026 WAKIX net revenue guidance of $1.0 to $1.04 billion was reiterated.
Fidelity National Information Services furnished supplemental unaudited pro forma figures that recast its 2024 and 2025 results as if the Issuer Solutions acquisition and Worldpay sale had been combined, both completed January 9, 2026. For fiscal 2025, the recast shows pro forma combined revenue of $13.2 billion and Adjusted Combined EBITDA of $5.4 billion, a 41.2% margin. The company states the figures are illustrative and not necessarily indicative of future results, and the exhibit is furnished rather than filed.
FY2025 pro forma combined revenue was $13,186 million, compared with $12,520 million in FY2024.
FY2025 Adjusted Combined EBITDA was $5,431 million with a 41.2% margin; FY2024 was $5,158 million with a 41.2% margin.
Adjusted Combined EBITDA margin rose from 38.8% in Q1 2025 to 43.2% in Q4 2025.
FIS paid approximately $7.7 billion in cash on January 9, 2026, the difference between the Issuer Solutions and Worldpay purchase prices.
NRG Energy reported full-year 2025 revenue of $30.7 billion and Adjusted EPS of $8.24, up from $6.83 in 2024. GAAP net income fell to $864 million from $1.1 billion, mainly due to unrealized non-cash mark-to-market losses on hedges, and fourth-quarter GAAP net income was $66 million. The company reaffirmed its 2026 guidance, which includes about 11 months of ownership of assets acquired from LS Power that closed on January 30, 2026.
Full-year GAAP net income was $864 million, versus $1,125 million in 2024; fourth-quarter GAAP net income was $66 million, versus $643 million a year earlier.
Full-year Adjusted EPS was $8.24, versus $6.83 in 2024; Adjusted EBITDA was $4,087 million, versus $3,789 million.
Full-year revenue was $30,713 million, versus $28,130 million in 2024.
2026 guidance was reaffirmed, including Adjusted EPS of $7.90 to $9.90 and Adjusted EBITDA of $5,325 million to $5,825 million.
Repligen reported fourth-quarter 2025 revenue of $198 million, up 18% as reported and 14% organic, and full-year 2025 revenue of $738 million, up 16%. GAAP results improved from the prior year, with fourth-quarter net income of $13 million versus a loss of $34 million, and the company issued 2026 guidance calling for revenue of $810 million to $840 million and adjusted diluted EPS of $1.93 to $2.01.
Q4 2025 revenue was $198 million, up from $168 million, an 18% increase as reported and 14% organic.
Q4 GAAP diluted EPS was $0.23, compared with a loss of $0.60 a year earlier; adjusted diluted EPS was $0.49, compared with $0.44.
2026 guidance: total reported revenue of $810 million to $840 million and adjusted diluted EPS of $1.93 to $2.01.
Cash, cash equivalents and marketable securities were $768 million at December 31, 2025.
FIS reported fourth-quarter and full-year 2025 results and gave 2026 guidance after closing its Total Issuing Solutions acquisition and selling its Worldpay stake on January 9, 2026. Full-year GAAP diluted EPS fell 49% to $0.73, including a $539 million non-cash deferred tax expense tied to the Worldpay sale, while adjusted EPS rose 10%. The company said it will temporarily pause share repurchases and tuck-in M&A to reduce debt.
Q4 2025 GAAP diluted EPS was $0.98, up from $0.56; adjusted EPS was $1.68, up 20%
Full-year 2025 revenue was $10.7 billion, up 5% on a GAAP basis
2026 outlook: revenue of $13,770 million to $13,850 million and adjusted EPS of $6.22 to $6.32
Quarterly dividend raised 10% to $0.44 per share; share repurchases paused until target leverage of 2.8x is reached
Westlake reported a fourth-quarter 2025 net loss of $544 million, or $4.22 per share, compared with net income of $7 million, or $0.06 per share, a year earlier. Excluding $511 million of identified items, mainly plant shutdown expenses, the loss was $33 million, or $0.25 per share, and EBITDA was $196 million versus $416 million a year earlier. Management said it expects 2026 earnings to improve, targeting $600 million of EBITDA benefit from its PEM profitability plan.
Q4 2025 net sales were $2.5 billion, down 11% year over year, with sales volume down 7% and average sales price down 4%.
Q4 2025 net loss was $544 million, or $4.22 per share; excluding identified items, the loss was $33 million, or $0.25 per share.
Full-year 2025 net loss was $1.5 billion, or $11.70 per share, including a $727 million goodwill write-off; excluding identified items, the loss was $116 million, or $0.90 per share.
Management targets $600 million of EBITDA improvement in 2026 from the PEM profitability plan, and cites the January 2026 acquisition of ACI.
Ryman Hospitality Properties reported fourth quarter 2025 revenue of $737.8 million, up 13.9% from a year earlier, and net income of $74.5 million, up 3.0%. For the full year, net income fell 11.7% to $247.3 million and net income per diluted share fell 13.9% to $3.77, and the company issued 2026 guidance with consolidated Adjusted EBITDAre of $846.0 million to $895.0 million at the midpoint range shown in the filing.
Q4 2025 total revenue was $737.8 million, up from $647.6 million; Q4 net income per diluted share was $1.11, down 1.8%.
Full-year 2025 net income was $247.3 million, down from $280.2 million; net income available to common stockholders per diluted share was $3.77 versus $4.38.
2026 guidance projects consolidated net income available to common stockholders per diluted share of $3.80 to $3.93, and the company does not expect to update it before its next earnings release.
The revolving credit facility was increased to $850 million from $700 million and extended to January 2030; a $1.20 per share dividend is payable April 15, 2026.
Sotera Health reported full-year 2025 net revenues up 5.7% to $1.164 billion and net income of $78 million, or $0.27 per diluted share, compared with $44 million, or $0.16 per diluted share, in 2024. The company also gave initial 2026 guidance for net revenues of $1.233 billion to $1.251 billion and Adjusted EBITDA of $632 million to $641 million. General Counsel Alex Dimitrief retires March 31, 2026, will serve as an advisor on ethylene oxide litigation, and Erika Ostrowski becomes Senior Vice President and General Counsel effective April 1, 2026.
Fourth-quarter 2025 net revenues rose 4.6% to $303 million, and net income was $35 million, or $0.12 per diluted share, versus $12 million a year earlier.
Full-year 2025 Adjusted EBITDA increased 8.2% to $594 million, and Adjusted EPS was $0.86, up $0.16 per diluted share.
2026 outlook: net revenues of $1.233 billion to $1.251 billion and Adjusted EPS of $0.93 to $1.01.
Dimitrief's advisory agreement is expected to pay $22,500 per month for up to 12 months.
AdaptHealth reported fourth-quarter 2025 net revenue of $846.3 million, down 1.2%, and a net loss attributable to the company of $102.8 million, compared with net income of $50.3 million a year earlier. The loss includes a non-cash goodwill impairment charge of $128.0 million, and Adjusted EBITDA fell 18.7% to $163.1 million. The company also issued 2026 guidance of $3.44 billion to $3.51 billion in net revenue and $680 million to $730 million in Adjusted EBITDA.
Q4 2025 net revenue was $846.3 million, down from $856.6 million; Adjusted EBITDA was $163.1 million, down from $200.6 million.
Q4 2025 net loss attributable to AdaptHealth was $102.8 million, including a $128.0 million non-cash goodwill impairment tied to the Diabetes Health unit.
Full-year 2025 net loss attributable to AdaptHealth was $70.8 million, versus net income of $90.4 million in 2024.
2026 guidance: net revenue of $3.44 billion to $3.51 billion, Adjusted EBITDA of $680 million to $730 million, and free cash flow of $175 million to $225 million.
Albany International reported fourth-quarter 2025 net revenue of $321.2 million, up from $286.9 million a year earlier, but GAAP net income attributable to the company fell to $13.9 million, or $0.49 per basic share, from $17.7 million, or $0.57. For the full year 2025 the company reported a net loss attributable to the company of $57.3 million, or $1.94 per share. The company also said it is working on a strategic review of its structures assembly business and its Salt Lake City production site, with an advisor engaged.
Q4 2025 net revenue $321.2 million vs. $286.9 million in Q4 2024; GAAP diluted EPS $0.48 vs. $0.56
Q4 2025 Adjusted EPS $0.65 vs. $0.58; Adjusted EBITDA $57.3 million vs. $50.0 million
Full-year 2025 net loss attributable to the company of $57.3 million, or $1.94 per share, vs. net income of $87.6 million in 2024
Q1 2026 outlook: consolidated revenue $275 million to $285 million; Adjusted EPS $0.50 to $0.60
American Tower reported fourth quarter and full year 2025 results, with revenue up 7.5% to $2,738 million in the quarter and up 5.1% to $10,645 million for the year. Quarterly net income attributable to common stockholders fell 33.3% to $821 million, while full year figures rose 12.2% to $2,530 million. The company's 2026 outlook projects Adjusted EBITDA of $7,090 million to $7,160 million, a midpoint decline of 0.1% from 2025.
Q4 2025 total revenue rose 7.5% to $2,738 million; full year 2025 revenue rose 5.1% to $10,645 million.
Q4 2025 net income attributable to AMT common stockholders fell 33.3% to $821 million; full year rose 12.2% to $2,530 million.
Full year 2025 AFFO attributable to common stockholders per share was $10.76, up 2.1%; per share, as adjusted, rose 8.0%.
2026 outlook: Adjusted EBITDA of $7,090 million to $7,160 million and AFFO per share of $10.78 to $10.95, with AFFO growth at the midpoint of 0.7%.
Keurig Dr Pepper reported fourth-quarter 2025 net sales of $4.5 billion, up 10.5%, and full-year net sales of $16.6 billion, up 8.2%. Full-year adjusted diluted EPS rose 7.3% to $2.05, and the company expects 2026 net sales of $25.9-$26.4 billion with low-double-digit constant currency adjusted EPS growth, including an expected contribution from JDE Peet's. The company also said Chair Bob Gamgort will leave the Board at the end of the first quarter of 2026, with Pamela Patsley becoming Chair.
Q4 net sales $4.5 billion, up 10.5%; GAAP diluted EPS $0.26 versus a loss of $0.11 a year earlier; adjusted diluted EPS $0.60, up 1.7%.
Full year net sales $16.6 billion, up 8.2%; GAAP diluted EPS $1.53; adjusted diluted EPS $2.05, up 7.3%.
2026 guidance: net sales of $25.9-$26.4 billion and low-double-digit constant currency adjusted EPS growth, assuming an early April JDE Peet's close.
Pamela Patsley to succeed Bob Gamgort as Board Chair at the end of Q1 2026.
Constellation reported fourth-quarter 2025 results on February 24, 2026. Q4 operating revenues rose to $6,074 million from $5,382 million, but GAAP net income per share fell to $1.38 from $2.71 and adjusted operating earnings per share fell to $2.30 from $2.44. Full-year adjusted operating earnings per share rose to $9.39 from $8.67, while full-year GAAP earnings per share fell to $7.40 from $11.89. 2026 guidance will be discussed on a March 31, 2026 call.
Q4 2025 revenue of $6,074 million vs. $5,382 million in Q4 2024; Q4 GAAP net income of $432 million vs. $852 million
Full-year 2025 adjusted operating earnings of $9.39 per share vs. $8.67 in 2024; full-year GAAP net income of $2,319 million vs. $3,749 million
Calpine acquisition completed January 7, 2026; quarterly dividend of $0.4265 per share payable March 20, 2026
2026 guidance to be discussed on the March 31, 2026 conference call
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