US Earnings Financial Results SEC Filings — March 09, 2026

09-03-2026

Zevra Therapeutics reported net revenue of $106.5M for 2025, up 350% YoY from $23.6M, driven by product sales including MIPLYFFA and OLPRUVA, leading to net income of $83.2M versus a $105.5M loss in 2024, primarily due to a $148.3M gain on PRV sale. However, the company recognized a $58.7M impairment of intangible assets, resulting in an ongoing operating loss of $62.9M (improved 28% from $87.0M prior year), with SG&A expenses rising 41% to $77.6M and intangible assets dropping to $6.4M from $69.0M. Cash and equivalents increased to $62.4M, with operating cash flow turning positive at near-breakeven versus $69.7M used previously.

• ·MIPLYFFA FDA approved Sep. 20, 2024; Orphan Drug Exclusivity through 2031; MAA submitted to EMA July 28, 2025.
• ·OLPRUVA FDA approved Dec. 22, 2022; IP through 2036.
• ·AZSTARYS FDA approved and partnered; receiving royalties and milestones; IP through 2037.
• ·Clinical programs: Celiprolol Phase 3 ongoing for VEDS (IP potential through 2038); KP1077IH Phase 3 ready for IH; KP1077N Phase 3 potential for Narcolepsy (both IP potential through 2038).
• ·Basic EPS $1.40 in 2025 vs $(2.28) in 2024.
• ·Total assets $284.7M as of Dec 31, 2025 (up from $178.1M); long-term debt $61.9M.

09-03-2026

Product revenue grew significantly to $72.2M from $7.3M YoY while supply agreement revenue increased substantially, but total revenue declined 5% YoY to $84.3M due to an 88% drop in collaboration revenue to $9.7M. Operating expenses surged 186% to $263.7M, driven by a 221% rise in SG&A to $230.1M, leading to a net loss of $171.3M versus $8.0M profit in 2024. Stockholders' equity fell to $114.3M from $256.8M amid heavy operating cash use of $170.9M.

• ·Net cash used in operating activities: $170.9M in 2025 vs provided $13.5M in 2024.
• ·Cash and equivalents decreased by $9.5M net in 2025.
• ·Total assets: $327.7M at Dec 31 2025 (down from $351.2M).
• ·Accumulated deficit: $294.6M at Dec 31 2025 (up from $123.3M).
• ·Term loans, net: $96.4M at Dec 31 2025 (none in 2024).
• ·Auditor focus: rebates estimation as key audit matter.

09-03-2026

Pantages Capital Acquisition Corp, a blank check company, reported total assets of $90.4M as of Dec 31, 2025, up from $87.2M prior year, driven by growth in the Trust Account to $90.1M (+4.1%) from interest income of $3.6M. However, cash declined sharply to $0.19M from $0.53M (-65%), operating losses widened to $1.02M from $0.35M, and shareholders' deficit deepened to $(1.38M) from $(0.36M). Net income turned positive at $2.55M (vs prior loss of $0.09M), primarily from Trust interest, with EPS of $0.23.

• ·Prepaid expenses declined to $87,377 from $122,434.
• ·Accounts payable and accrued expenses decreased to $78,128 from $121,039.
• ·Due to related parties minimal at $294 (down from $33,521).
• ·Basic and diluted EPS for redeemable Class A shares: $0.23 in 2025 vs $(0.03) in 2024.

09-03-2026

Tri-County Financial Group, Inc. reported total assets of $1.6B, up 3.7% YoY, with loans growing 3.0% to $1.3B and net income surging 31.0% to $13.7M driven by 16.8% higher net interest income and 10.2% noninterest income growth. However, nonperforming loans ratio rose to 0.43% from 0.33%, credit loss expense flipped to $0.7M from a $1.3M recovery, and allowance coverage of nonperforming loans declined to 264.9% from 346.9%. Financial ratios improved with ROA at 0.88% (up from 0.68%) and ROE at 9.09% (up from 7.45%), but noninterest expense increased 4.9%.

• ·Return on average assets improved to 0.88% from 0.68%; Return on average equity to 9.09% from 7.45%.
• ·Net interest margin expanded to 3.40% from 2.96%.
• ·Tier 1 leverage capital ratio of subsidiary Bank at 10.51% (up from 10.30%); Risk-based total capital ratio at 14.91% (up from 14.50%).
• ·Mortgage banking income up 13.4% to $11.3M; Insurance services up 24.6%.

09-03-2026

Cumberland Pharmaceuticals Inc. reported net revenues of $44.5M for the year ended December 31, 2025, up 17.6% YoY from $37.9M, driven by strong growth in Sancuso (+32% to $11.9M), Vibativ (+33% to $9.5M), new Talicia ($3.3M), and Other (+211% to $4.1M). However, Kristalose revenues declined 31% to $10.5M and Caldoror fell 6% to $4.7M; operating loss narrowed to $2.8M from $6.4M but remained negative, with net loss at $2.9M versus $6.4M prior year. Cash and equivalents decreased to $11.4M from $18.0M, working capital dropped sharply to $0.3M from $4.8M, and current ratio slipped to 1.0x from 1.2x.

• ·Cash from operating activities improved to $4.9M in 2025 from -$0.6M in 2024.
• ·Vibativ contribution margin: $7.6M in 2025 vs. $3.6M in 2024.
• ·Sancuso contribution margin: $7.2M in 2025 vs. $4.4M in 2024.
• ·Revolving line of credit availability increased to $9.8M from $4.7M.

09-03-2026

EVgo Inc.'s 10-K filing highlights operational strategies including efficient charging equipment procurement, technology-enabled products like Autocharge+ and the EVgo Public Network to enhance customer experience and efficiencies, and diversified charging revenue streams from retail, commercial fleets, and OEM partnerships. However, it emphasizes significant risks from evolving regulations such as the OBBBA terminating the 30C income tax credit, potential policy changes, inflation driving up costs, and U.S. tax law modifications that could adversely impact financial condition. These factors underscore a challenging regulatory and economic environment amid efforts to maintain market leadership in EV charging infrastructure.

• ·Filing Date: March 09, 2026
• ·Risks include termination of 30C income tax credit via OBBBA and potential tariff/sanctions changes

09-03-2026

Melar Acquisition Corp. I/Cayman, a blank check company with no operating history or revenues, filed its 10-K on March 9, 2026, for the year ended December 31, 2025, disclosing risks related to completing an initial Business Combination, including the proposed Everli Business Combination which could result in substantially all assets and revenue in a foreign country. The filing details potential Working Capital Loans up to $1.5M from the Sponsor or affiliates, convertible into warrants, and lists beneficial owners via Schedule 13G filings from entities like LMR Partners, AQR, Wolverine (holding 926,328 Public Shares as of Sep 30, 2025), Mizuho, and others. No operating performance metrics are provided, consistent with SPAC status.

• ·Company inception: March 11, 2024
• ·Financial statements compare year ended December 31, 2025 to period from inception through December 31, 2024
• ·Risk of negative interest rates on Trust Account investments potentially reducing per-share redemption value
• ·Schedule 13G filing dates: November 14, 2024 (LMR, AQR); August 14, 2025 (Meteora); October 10, 2025 (Wolverine); November 13, 2025 (Mizuho); February 11, 2026 (W.R. Berkley); March 21, 2025 (Barclays)

09-03-2026

SharpLink Gaming reported total revenue of $28.1M for FY 2025, up 666% YoY from $3.7M, driven by $25.6M in new staking revenue, though affiliate marketing revenue declined 33% YoY to $2.5M. The company posted a massive net loss of $734.6M, primarily due to $616.2M unrealized losses on crypto assets and $140.2M impairment on LsETH holdings, contrasting with a $10.1M profit in FY 2024 which included discontinued operations income. LsETH holdings stood at a carrying value of $500.9M (204,409 units) after acquisitions funded by PIPE and ATM offerings, with original cost basis of $624.7M.

• ·ETH traded below $1,472 and above $4,821 per ETH on Coinbase in 2025.
• ·LsETH acquisitions: 236,983 units at approx. average purchase price per LsETH of $3.
• ·Adopted ASU 2023-08 effective Jan 1, 2025 for fair value accounting of ETH holdings.
• ·No long-term debt on balance sheet.
• ·Stock-based compensation, related party: $16.5M in 2025.

09-03-2026

908 Devices Inc. reported total revenue of $56.2M for the year ended December 31, 2025, up 17.7% YoY from $47.7M in 2024, driven by strong growth in recurring revenue (+22.0% to $19.4M), U.S. state/local sales (+38.2% to $24.2M), rest of world (+21.4% to $14.4M), and global pharmaceutical/industrial (+98.7% to $3.0M). However, U.S. federal and defense revenue declined 13.6% to $14.5M, contract revenue fell 11.4% to $0.1M, and device sales growth slowed to 15.7% at $36.7M, amid risks from long sales cycles and heavy reliance on government contracts.

• ·Over 700 customers including major government institutions.
• ·Risks include long and unpredictable sales cycles, heavy dependence on U.S. government orders, and potential impacts from government contracting/fiscal policy changes.

09-03-2026

Cross Country Healthcare's 2025 revenue declined 21.6% YoY to $1.05B from $1.34B, with Nurse and Allied Staffing revenue dropping to $863M amid 17.3% fewer FTEs (6,784 vs 8,205) and 8.5% lower revenue per FTE/day ($346 vs $378), while Physician Staffing revenue fell slightly to $192M on 14% fewer days filled despite 12.1% higher revenue per day ($2,274 vs $2,029). Net loss widened dramatically to $95M from $15M, driven by $78M impairment charges (up from $3M) and operating loss of $84M (vs $17M). Total assets shrank to $449M from $589M, reflecting significant goodwill impairment.

• ·Cash and equivalents increased to $109M from $82M.
• ·Goodwill decreased to $64M from $135M.
• ·Corporate overhead declined to $61M from $69M.
• ·Contribution income for Physician Staffing rose slightly to $16M from $15M.

09-03-2026

Cartesian Therapeutics reported total revenues of $2.8M for 2025, down 93% YoY from $38.9M, primarily due to a 99% drop in collaboration and license revenue to $0.4M, though grant revenue increased significantly to $2.4M. Operating expenses surged 77% to $146.2M, driven by a $56.7M impairment charge on the Descartes-08 for SLE intangible asset (up from $7.6M), R&D expenses up 29% to $58.0M, and G&A up 4% to $31.5M, resulting in a widened net loss of $130.3M (68% worse) and basic EPS of ($5.02). Cash and equivalents declined to $125.1M from $212.6M, with net cash decrease of $87.4M including $73.9M used in operations.

• ·In-process R&D assets declined to $93.9M from $150.6M as of Dec 31, 2025.
• ·Goodwill stable at $48.2M as of Dec 31, 2025.
• ·Stockholders’ deficit deepened to ($126.2M) from ($6.8M).
• ·Basic net loss per share ($5.02) vs ($4.48) YoY.
• ·CVR fair value loss of $4.4M in 2025.

09-03-2026

enGene Holdings Inc. reported a widened net loss of $29.8M for the three months ended January 31, 2026, up 21% YoY from $24.6M, driven by increased R&D expenses ($22.3M, +11%) and G&A expenses ($8.9M, +35%), with operating cash use rising to $28.9M from $25.7M. However, the company raised $126.3M gross from a public offering and $23.2M from pre-funded warrants, plus $25M from a Second Amended Term Loan, boosting total assets to $337.1M (up 52% QoQ from $221.5M) and shareholders' equity to $281.5M (up 68% QoQ). Cash and equivalents declined to $36.6M amid heavy investments in marketable securities.

• ·Loss per share improved to $0.44 from $0.48 YoY due to increased share count.
• ·Weighted-average shares outstanding: 67.3M in 2026 vs 51.0M in 2025.
• ·Marketable securities short-term increased to $239.3M from $143.6M QoQ.

09-03-2026

Boundless Bio, Inc. reported a reduced net loss of $58.2M for the year ended December 31, 2025, compared to $65.4M in 2024, primarily due to lower R&D expenses of $44.8M (down from $55.3M) and total operating expenses of $63.6M (down from $73.3M). However, G&A expenses rose slightly to $18.7M from $18.0M, cash and equivalents declined to $17.9M from $26.6M, and total assets fell to $157.1M from $206.4M amid a net cash decrease of $8.7M.

• ·Net loss per share improved to $(2.60) from $(3.85) YoY.
• ·Shares used in per share calculation: 22,360 in 2025 vs 16,984 in 2024.
• ·Accumulated deficit increased to $(259.7M) from $(201.5M).
• ·Stock-based compensation: $6.1M in 2025 vs $7.5M in 2024.
• ·Short-term investments: $89.7M as of Dec 31 2025 vs $125.5M as of Dec 31 2024.

09-03-2026

Spruce Biosciences reported a reduced net loss of $39M for the year ended December 31, 2025, compared to $53M in 2024, primarily due to a 58% decline in R&D expenses to $20M and overall operating expenses dropping 40% to $37M; however, collaboration revenue fell to $0 from $5M, G&A expenses rose 16% to $17M, and a $3.5M negative change in warrant liability impacted results. Cash burn from operations improved to $33M used from $56M, supported by $50M in financing proceeds that increased cash and equivalents to $49M from $39M. Shares outstanding more than doubled to 1.4M following equity issuances.

• ·Term loan fully repaid in 2025.
• ·Change in fair value of warrant liability: -$3.5M in 2025.
• ·Stock-based compensation: $2.6M in 2025 (down from $5.3M in 2024).
• ·Net loss per share: ($50.83) basic and diluted in 2025 vs ($96.40) in 2024.
• ·Weighted-average shares outstanding: 766,598 in 2025 vs 550,146 in 2024.

09-03-2026

Dianthus Therapeutics reported total revenues of $2.0M for the year ended December 31, 2025, down 67% YoY from $6.2M due to the absence of license revenue from a former related party, while license revenue rose modestly to $2.0M from $0.3M. Operating expenses increased 67% to $180M, with R&D expenses surging 75% to $146M and G&A up 37% to $34M, driving net loss to widen 91% to $162M from $85M. However, financing activities provided $280M, including $272M from a public offering, strengthening cash and equivalents to $51M (up 124% YoY) and total assets to $531M (up 42% YoY).

• ·Net loss per share basic and diluted: $(4.20) in 2025 vs $(2.55) in 2024.
• ·Weighted-average shares used in EPS: 38,617,580 in 2025 vs 33,313,849 in 2024.
• ·Stock-based compensation expense: $23M in 2025 (up 77% YoY from $13M).
• ·Short-term investments: $353M as of Dec 31, 2025 (up 40% YoY).
• ·Accumulated deficit: $(337M) as of Dec 31, 2025 vs $(174M) as of Dec 31, 2024.

09-03-2026

09-03-2026

Protagenic Therapeutics, Inc. reported total assets of $4.4M as of Dec 31, 2025, up significantly from $89K at Mar 31, 2025, driven by the acquisition of Phytanix Bio which added $943K cash and $2.1M intangibles; cash increased to $2.2M. However, operating expenses rose 130% YoY to $925K in Q3 FY26, resulting in a $925K operating loss, while 9M net loss widened 112% YoY to $3.7M despite a Q3 net income of $2.2M from $3.1M derivative gain. Cash used in operations was $3.1M over 9M, offset by $4.4M financing inflows.

• ·Notes payable increased to $3.16M from $1.67M.
• ·Accounts payable rose to $2.03M from $961K.
• ·Derivative liabilities decreased to $544K from $1.38M.
• ·Weighted average shares basic/diluted Q3: 1,934,878 vs 5,395,604 YoY.
• ·Reverse merger accounted under ASC 805 with purchase price allocation of $2.34M.

09-03-2026

3D Systems Corp reported FY 2025 revenue of $387M, down 12.1% YoY from $440M, driven by a 20% decline in Products revenue while Services grew 1.6%; both Healthcare Solutions (-5.3%) and Industrial Solutions (-17.2%) segments saw revenue drops. Operating loss improved to $96M from $277M due to sharp cuts in SG&A, R&D, and asset impairments, aided by a $140M gain on disposition boosting non-operating income. However, gross profit fell 20.2% to $131M with margins contracting 3.4pp to 33.9%, cash and equivalents dropped 44% to $96M, and operating cash flow worsened to $(88M).

• ·Asset impairment charges fell to $0.8M from $145M YoY.
• ·SG&A expenses decreased $49M or ~23% to $161M.
• ·R&D expenses declined $21M or 25% to $65M.
• ·Inventories increased 7.6% to $127M.

09-03-2026

ALX Oncology Holdings Inc. reported a narrowed net loss of $101.7M for the year ended December 31, 2025, improving 25% YoY from $134.9M in 2024, primarily due to a 27% reduction in total operating expenses to $104.0M, with R&D expenses declining 34% to $77.0M and G&A down 9% to $23.9M. However, total assets shrank 60% to $59.0M from $147.8M, driven by a drop in short-term investments to $28.4M from $110.2M and cash equivalents to $16.4M from $17.6M, while stockholders' equity fell to $26.0M from $113.6M and interest income decreased 58%. Cash used in operations improved to $84.1M from $121.9M, but net cash decreased amid limited financing inflows.

• ·Impairment charge of $3.2M recorded in 2025.
• ·Weighted-average shares used for net loss per share: 53,658,399 in 2025 vs 52,174,904 in 2024.
• ·Net loss per share improved to $(1.90) from $(2.58) YoY.
• ·ATM offering proceeds: $1.7M in 2025 vs $29.7M in 2024.

09-03-2026

Castellum, Inc. (CTM) reported FY2025 revenues of $52.9M, up 18.1% YoY from $44.8M in 2024, driven by gross profit growth of 6.0% to $19.4M, while total operating expenses fell 13.0% to $22.2M, narrowing net loss to common shareholders to $2.5M (-75.2% improvement). However, cash flow from operating activities deteriorated to $(1.9M) from $1.1M in 2024, and FY2024 revenues had declined 1.1% YoY from $45.2M in 2023 amid flat gross profit performance (-2.2%). Balance sheet strengthened with total assets at $41.9M (up from $37.8M) and liabilities reduced to $6.2M from $17.7M.

• ·Common shares used in net loss per share calculation: 92,962,823 (FY2025 basic and diluted)
• ·Net cash from financing activities: $4.7M (FY2025)
• ·Derivative liability reduced to $262K from $883K (Dec 31, 2025 vs 2024)
• ·Revolving credit facility fully repaid ($0 from $2.0M)
• ·Investment in joint ventures/captive insurance: $100K (FY2025)

09-03-2026

Voyager Therapeutics reported collaboration revenue of $40.4M for the year ended December 31, 2025, a 49.5% decline from $80.0M in 2024, driven by lower recognition including only $15.0M from the Novartis Amendment. Operating expenses rose 5.5% to $172.2M, with R&D up 5.7% and G&A up 4.5%, resulting in a widened net loss of $119.7M versus $65.0M in 2024. Cash used in operating activities surged to $132.5M from $15.3M, leading to a $6.2M net decrease in cash.

• ·Collaboration revenue for 2024 declined 68.0% from $250.0M in 2023.
• ·Net cash from investing activities was $125.4M inflow in 2025 versus $94.9M outflow in 2024.
• ·Net cash from financing activities was minimal at $0.8M in 2025, down from $114.0M in 2024.
• ·Income tax provision decreased to $0.1M in 2025 from $0.7M in 2024.

09-03-2026

Tiptree Inc. reported net income attributable to common stockholders of $34.9M for the year ended December 31, 2025, a 35% YoY decline from $53.4M in 2024, primarily due to widening losses from continuing operations of $38.9M (vs. $32.3M loss prior year) and sharply lower revenues of $0.5M (down 68% YoY). Expenses from continuing operations rose 13% YoY to $47.2M, while net income from discontinued operations fell 14% to $73.8M. However, book value per share increased 9% to $13.45, total assets grew 20% to $6.84B, and total stockholders' equity rose 15% to $752M.

• ·Diluted EPS $0.76 for 2025, down from $1.34 in 2024.
• ·Dividends declared per common share $0.24 in 2025, down from $0.49 in 2024.
• ·Operating cash flow used $27.2M in 2025, worsening from $25.0M used in 2024.
• ·Non-controlling interests increased to $244M as of Dec 31 2025 from $199M.
• ·Comprehensive income attributable to common stockholders $55.2M in 2025, up slightly from $51.7M in 2024.

09-03-2026

Anixa Biosciences reported no revenue for the three months ended January 31, 2026, with net loss attributable to common shareholders narrowing 19% YoY to $2.6M from $3.2M, driven by R&D expenses down 29% and G&A down 12%, while interest income declined to $131k. Total assets decreased 5% QoQ to $15.2M as of January 31, 2026 from $16.1M, due to lower short-term investments (-9%), though cash rose 24% to $1.5M and the company raised $1.6M net via at-the-market equity offering. Cash used in operations improved to $2.6M from $2.9M YoY, but net cash from investing activities fell sharply to $1.2M from $2.7M.

• ·Revenue remained at $0 for both periods.
• ·Weighted average common shares outstanding increased to 33.24M from 32.20M YoY.
• ·Basic and diluted EPS improved to ($0.08) from ($0.10) YoY.
• ·Noncontrolling interest loss of $20k in Q1 FY2026.
• ·Stock-based compensation in R&D: $338k (down from $397k YoY); in G&A: $458k (down from $658k YoY).

09-03-2026

Vicarious Surgical Inc. discloses a limited operating history with no revenue generated from sales of its product candidates and ongoing losses since inception, anticipating continued significant losses for the next several years. The company highlights key risks including dependence on market acceptance, commercialization challenges, international expansion risks, and needs for robust sales/marketing infrastructure, with no offsetting positive financial metrics reported. It outlines a planned recurring revenue model following initial Vicarious Surgical System placement, driven by utilization of single-use components like robotic arms, camera, and instrument tips.

09-03-2026

MYOMO, Inc. reported total revenue of $40.9M for FY 2025, up 26% YoY from $32.6M, driven by growth in direct billing (+20%), international (+48%), and U.S. O&P (+100%), though VA revenue declined to $0.8M from $1.2M. Gross profit rose 16% to $26.9M but gross margin contracted 5.5 percentage points to 65.7% due to 50% higher cost of revenue; operating expenses surged 40% to $41.3M, resulting in a widened GAAP net loss of $15.6M from $6.2M and Adjusted EBITDA loss of $11.5M from $5.1M. Cash and equivalents fell to $14.1M from $24.4M amid $14.5M operating cash burn.

• ·R&D expenses increased 46% YoY to $6.9M.
• ·G&A expenses rose 13% YoY to $14.0M.
• ·Net cash used in operating activities worsened to $14.5M from $3.3M.
• ·Short-term investments grew to $4.3M from $0.5M.
• ·Working capital declined to $19.2M from $22.6M.

09-03-2026

Repay Holdings Corp reported FY2025 revenue of $309.3M, a 1.2% YoY decline from $313.0M in FY2024, driven by an 8.5% drop in Business Payments to $48.4M despite a 1.7% increase in Consumer Payments to $285.9M. The company posted a net loss of $271.1M, significantly wider than $10.3M in 2024, primarily due to a $242.7M non-cash impairment loss, while Adjusted EBITDA fell 8.7% to $128.6M. Total assets decreased to $1.2B from $1.6B, reflecting goodwill impairment, and operating cash flow dropped to $91.1M from $150.1M.

• ·Goodwill decreased to $474.5M from $716.8M as of Dec 31, 2025 vs 2024.
• ·Cash and cash equivalents fell to $115.7M from $189.5M.
• ·Long-term debt, net reduced to $280.1M from $496.8M.

09-03-2026

Corbus Pharmaceuticals Holdings, Inc. reported a significantly widened net loss of $78.5 million for the year ended December 31, 2025, compared to $40.2 million in 2024, primarily due to a 118% surge in research and development expenses to $70.1 million while general and administrative expenses declined 8% to $15.2 million, resulting in total operating expenses increasing 75% to $85.3 million. Cash and cash equivalents grew to $28.5 million from $17.2 million, bolstered by $77.4 million in net financing activities, with total assets reaching $168.2 million and stockholders' equity at $147.5 million. However, net cash used in operating activities rose to $64.5 million from $41.8 million, reflecting heightened spending.

• ·Weighted average shares outstanding increased to 13,317,116 in 2025 from 10,915,413 in 2024.
• ·Investments slightly increased to $134.8M as of Dec 31, 2025 from $131.9M as of Dec 31, 2024.
• ·Accumulated deficit grew to $(555.4M) from $(476.9M).
• ·Stock-based compensation expense rose slightly to $6.3M in 2025 from $6.1M in 2024.

09-03-2026

Kronos Worldwide Inc's 10-K discloses sales volume distributed as 45% Europe, 40% North America, 8% Asia Pacific, and 7% Rest of World, with end-use breakdown of 59% Coatings, 30% Plastics, 8% Paper, and 3% Other. The filing highlights significant Q4 non-cash items including a $64.5M pre-tax gain on LPC investment remeasurement and a $4.6M gain on earn-out liability, offset by $19.3M and $8.5M non-cash deferred tax expenses, $10.3M restructuring costs for workforce reductions, and $9.0M pension plan settlement loss. Leverage risks are noted, potentially limiting cash for operations, capex, dividends, or acquisitions.

• ·Net impacts per share: restructuring $0.06, pension settlement $0.06, German tax expenses $0.17 and $0.07, earn-out gain $0.03, LPC gain $0.44
• ·One-time items recognized in third and fourth quarters

09-03-2026

Septerna, Inc. reported revenue of $46M for 2025, a massive increase from $1.1M in 2024, alongside a narrowed net loss of $49M versus $72M prior year, supported by $110M positive operating cash flow, higher interest income of $20M, and a $12.5M gain on asset sale. However, R&D expenses surged 49% to $98M, G&A rose 76% to $29M, total cash and equivalents declined to $121M from $239M due to $229M investing outflows, and stockholders' equity decreased to $382M from $420M. Deferred revenue jumped to $168M, indicating potential future recognition.

• ·Weighted-average shares outstanding increased to 44.3M in 2025 from 9.9M in 2024 due to IPO conversion.
• ·Net cash from operating activities flipped to positive $110M in 2025 from negative $67M in 2024.
• ·Stock-based compensation expense rose to $8.5M in 2025 from $3.2M.
• ·Total stockholders' equity declined to $382M from $420M.

09-03-2026

MacroGenics' FY 2025 total revenue remained flat at $149.5M compared to $150.0M in 2024, with contract manufacturing surging 302% to $52.6M and royalty revenue rising significantly to $9.7M (NM), but collaborative agreements declined 27% to $87.2M and product sales dropped 100% to $0. Net loss widened to $74.6M from $66.9M despite R&D expenses falling 17% to $147.2M and SG&A down 45% to $39.2M, while cash and equivalents plummeted 69% to $57.2M from $182.8M amid $114.1M investing outflows and a new $70M liability from selling ZYNYZ royalty interests to Sagard.

• ·Auditor emphasis of matter on $70M royalty liability accounting due to ZYNYZ revenue forecast uncertainty.
• ·Interest expense on royalty liability: $8.3M for FY 2025.
• ·Net cash used in operating activities: $81.0M (FY 2025) vs $68.4M (FY 2024).

09-03-2026

ACCO Brands Corporation reported net sales of $1,524.7M for 2025, down 8.5% YoY from $1,666.2M, with comparable sales declining 9.3%; Americas segment sales fell 10.6% to $894.4M while International dropped 5.4% to $630.3M. However, the company swung to net income of $41.3M ($0.44/share) from a $101.6M loss, driven by no goodwill impairment (vs. $165.2M prior year) and operating income of $92.3M (vs. loss). Americas operating income improved sharply to $97.7M from a $45.5M loss, but International operating income declined 36.8% to $34.2M.

• ·Sales mix: Americas 59% (down from 60% in 2024, 62% in 2023); International 41% (up from 40%).
• ·Gross profit margin contracted to 32.8% from 33.3%.
• ·Net cash decreased $9.7M in 2025 vs. increase of $7.7M in 2024.
• ·Currency translation impact: +$13.2M on total sales.

09-03-2026

For the year ended December 31, 2025, Greenbacker Renewable Energy Company LLC reported total net revenue of $191.2M, down 2.3% YoY from $195.8M, primarily due to a 1.5% decline in energy revenue to $182.5M and a sharp 38.8% drop in investment management revenue to $11.5M. However, Adjusted EBITDA improved 20.6% to $72.0M from $59.8M, operating expenses fell 28.5% to $374.7M, and net loss attributable to the company narrowed 19.7% to $(194.6M) from $(242.3M), supported by lower impairments and gains. Segment-wise, IPP Adjusted EBITDA rose to $96.7M (+19.1% YoY) while IM Adjusted EBITDA turned negative at $(2.6M) from $2.1M.

• ·Management internalization acquisition completed May 19, 2022
• ·Filing date: March 09, 2026
• ·FFO for 2025: $18.1M, up from $10.7M in 2024

09-03-2026

NET Power Inc. reported a net loss attributable to the company of $579M in 2025, a substantial increase from $49M in 2024, primarily due to a $1.5B impairment and other charges alongside sharp rises in operating expenses including R&D (+56% YoY to $100M) and project development (+3,646% YoY to $72M). Revenue fell 100% YoY to $0 while total operating expenses surged to $1.8B from $182M, leading to an operating loss of $1.8B versus $181M prior year. Total assets declined sharply to $600M from $2.3B, with liquidity dropping to $376M from $530M amid higher cash burn in operations.

• ·Intangible assets, net declined to $182M from $1,241M; Goodwill to $0 from $360M.
• ·Net cash used in investing activities $9M (2025) vs $169M (2024).
• ·Loss per share of Class A Common Stock: -$7.34 (2025) vs -$0.67 (2024).
• ·Redeemable non-controlling interests in subsidiary: $331M (2025) vs $1,507M (2024).

09-03-2026

Oyster Enterprises II Acquisition Corp, a blank check company with no revenues or operating history, reported net income of $5.8M for FY 2025 driven by $6.2M in interest from its $259.2M Trust Account (25.3M Class A shares at $10.25 redemption value), compared to a $47k net loss in the 2024 inception stub period. However, it incurred a $457k operating loss from formation and G&A costs, with shareholders' deficit widening to $7.9M from $22k due to accretions and transaction costs. Total assets expanded to $260.3M post-IPO, while liabilities rose to $9.0M including $8.9M deferred underwriting fees.

• ·Company inception: October 9, 2024
• ·Class B ordinary shares issued to Sponsor for $25,000
• ·Accretion of Class A Ordinary Shares to redemption amount: $24.3M
• ·Fair value of rights included in Public Units: $3.7M
• ·Allocated value of transaction costs to Class A shares: $0.23M

09-03-2026

For the year ended December 31, 2025, Franklin Street Properties Corp reported total revenues of $107.2M, down 10.8% YoY from $120.1M, primarily due to the sale of one property and lease expirations, with leased space declining slightly to 68.9% from 70.3%. Expenses decreased 8.4% to $140.0M, driven by lower real estate costs and debt, resulting in a narrower net loss of $45.0M compared to $52.7M in 2024. However, rental revenue specifically fell 10.8% YoY, reflecting ongoing occupancy pressures partially offset by new leases.

• ·One property sold in 2025 and three properties sold in 2024 contributed to revenue declines.
• ·2024 vs 2023: Rental revenue down $25.4M or 17.4% to $120.1M, with leased space at 67.5% vs 71.5%; net loss widened to $52.7M from $48.1M.

09-03-2026

For the nine months ended January 31, 2026, Casey's General Stores reported revenue of $12.99B, up 8.7% YoY from $11.95B, and net income of $552M, up 23.1% YoY to $448M, driven by higher volumes and margin expansion. However, Q3 revenue growth was nearly flat at +0.3% YoY to $3.92B, with operating expenses up 4.0% YoY, though offset by a 2.7% decline in COGS and lower interest expense. The balance sheet showed total assets up 4.6% to $8.59B, cash up 42% to $465M, but inventories down 8.0% to $441M.

• ·Acquisitions spending $88M in nine months vs $1.21B prior year
• ·Long-term debt down to $2.33B from $2.41B
• ·Dividends declared at 57 cents per share (up from 50 cents prior year)
• ·Net cash used in investing $513M vs $1.52B prior year

09-03-2026

FreightCar America reported 2025 revenues of $501M, down 10% YoY from $559M due to lower railcar sales ($474M vs $539M), though aftermarket sales grew to $27M from $18M and gross profit rose 9% to $73M. The company achieved net income of $38M, a turnaround from a $76M loss in 2024, aided by a $49M tax benefit, but operating income declined 9% to $34M and railcar backlog halved to 1,926 units ($137M estimated revenue) from 2,797 units ($267M). Cash from operations fell 23% to $35M from $45M, while total assets grew 29% to $290M amid a $6M acquisition.

• ·Railcar orders received: 3,254 in 2025 vs 4,245 in 2024 (-23%)
• ·Railcars delivered: 4,125 in 2025 vs 4,362 in 2024 (-5%)
• ·Stockholders’ deficit improved to $(107M) from $(150M)
• ·Warrant liability increased to $169M from $136M
• ·Interest expense rose to $18M from $6.9M
• ·Acquisitions net cash outflow $6.3M in 2025

09-03-2026

Owlet, Inc. reported strong revenue growth of 35.4% YoY to $105.7M for the year ended December 31, 2025, driven by higher sales, with gross profit rising 36.2% to $53.5M and gross margin edging up to 50.6%; Adjusted EBITDA turned positive at $2.0M from a $1.8M loss. However, operating loss narrowed only modestly to $8.3M from $20.2M amid higher R&D and interest expenses, while net loss widened significantly to $39.7M from $12.5M due to a $26.6M unfavorable warrant liability adjustment. Net cash increased $20.4M, supported by $32.1M from financing activities, though operating cash use remained high at $10.8M.

• ·General and administrative expenses declined 13.9% YoY to $29.2M.
• ·Research and development expenses increased 43.7% YoY to $14.1M.
• ·Net loss per share attributable to common stockholders was $(2.31) basic and diluted in 2025 vs $(1.57) in 2024.
• ·Filing includes Consolidated Balance Sheets as of Dec 31, 2025 and 2024, audited by Independent Registered Public Accounting Firm (PCAOB ID 238).

09-03-2026

Stellar V Capital Corp., a SPAC, reported net income of $5.3M for the year ended December 31, 2025, driven by $5.7M in interest earned on marketable securities held in its Trust Account which grew to $156.7M, compared to a net loss of $0.16M in the stub period from inception (July 12, 2024) through December 31, 2024. However, loss from operations widened to $0.59M from $0.08M due to higher general and administrative costs of $0.59M versus $0.08M. Total assets expanded to $157.2M from $0.36M, while shareholders' deficit increased to $4.9M from $0.05M.

• ·Sponsor received 6,059,925 Class B founder shares for $25,000 consideration.
• ·Redemption price anticipated at approximately $10.07 per share, actual $10.45 as of Dec 31, 2025.
• ·Up to $1.5M working capital loans from sponsor convertible into private units at $10.00 per unit.
• ·Founder shares subject to lock-up until 6 months post-business combination or price/liquidation triggers.

09-03-2026

Heritage Commerce Corp's total assets grew 4.6% YoY to $5.58B in 2025 from $5.34B in 2024, driven by 4.8% higher average loans to $3.51B and net interest income up 15% to $185M with margin expansion to 3.56% from 3.25%. Noninterest income rose 9% to $12.1M, while nonperforming assets improved sharply to $2.8M or 0.08% of loans from $7.7M or 0.22%. However, noninterest expenses increased 13% to $128M, including $9.2M legal settlements and $2.1M merger-related costs, compared to $114M prior year.

• ·Shareholders’ equity increased to $697M in 2025 from $679M in 2024.
• ·Total interest-bearing deposits averaged $3.53B in 2025 (1.97% rate) vs $3.34B in 2024 (2.30% rate).
• ·Accumulated other comprehensive loss improved to $(4.7)M from $(8.1)M.
• ·Intangible assets ended 2025 at $251k, down from $344k.

09-03-2026

OraSure Technologies reported net revenues of $115.0M for FY 2025, down 38% YoY from $185.8M, driven by sharp declines across segments including Diagnostics (-12%), Sample Management Solutions (-25%), Risk Assessment Testing (-78%), and COVID-19 Diagnostics (-99%). The company swung to a larger net loss of $68.7M (-253% YoY from $19.5M loss) with operating loss widening to $72.0M; however, non-product revenues surged 391% to $6.0M. Cash and equivalents fell to $199.3M from $267.8M, with operating cash use of $49.0M versus prior provision.

• ·Working capital declined to $222.1M from $299.7M.
• ·Total stockholders' equity decreased to $340.8M from $410.3M.
• ·R&D expenses rose 63% YoY to $42.5M.
• ·Acquired business for $3.6M net of cash in FY2025.
• ·Share repurchases totaled 5,283K shares under repurchase program.

09-03-2026

FIGX Capital Acquisition Corp., a blank check company with no revenues or operating history, reported total assets of $154.7M as of December 31, 2025, driven by $153.7M in the Trust Account from 15,065,000 Class A ordinary shares at $10.20 redemption value. For the period from inception (February 20, 2025) through December 31, 2025, it recorded net income of $2.5M from $3.1M interest income offsetting a $397k operating loss and $164k share-based compensation expense; however, shareholders' deficit stood at $5.5M with an accumulated deficit of $5.5M.

• ·Up to $1.5M Working Capital Loans may be provided by Sponsor or affiliates/directors/officers and convertible into post-Business Combination units at $10.00 per unit.
• ·Cash: $905k; Total current assets: $977k; Total liabilities: $6.5M.
• ·Redemption value per Class A share: $10.20.
• ·No revenues; blank check company pre-Business Combination.

09-03-2026

Amplify Energy Corp. reported total production of 6,733 MBoe for the year ended December 31, 2025, a 5.8% YoY decline from 7,144 MBoe in 2024, with average net production falling to 18.4 MBoe/d from 19.5 MBoe/d. Realized price per Boe decreased slightly to $38.03 from $39.61, while lease operating expense rose marginally to $20.99/Boe from $20.01/Boe; Beta segment volumes grew 16.5% but Eagle Ford plunged 43.6% and Oklahoma fell 16.3%. Risk factors emphasize dependence on few customers and geographic concentration in limited areas.

• ·Standardized measure of proved reserves uses 10% annual discount rate and excludes non-property expenses like G&A and interest.
• ·PV-10 is a non-GAAP measure excluding future income tax effects.
• ·Risk factors include potential loss of significant customers and adverse developments in concentrated geographic areas.

09-03-2026

NL Industries Inc. reported equity in losses from its 31%-owned Kronos Worldwide of $33.9 million in 2025, a sharp reversal from equity in earnings of $26.4 million in 2024, while 2024 also benefited from $31.4 million in settlement income from an environmental remediation site. Additional 2025 pressures included an unrealized loss on marketable equity securities of $13.6 million (vs. a $9.8 million gain in 2024) and a $19.7 million non-cash pension plan settlement loss. Ownership in 87%-owned CompX International remained stable, with Kronos' TiO2 pigments comprising 90% of its 2025 net sales.

• ·Kronos sales volume by region: Europe 45%, North America 40%, Asia Pacific 8%, Rest of World 7%.
• ·Kronos sales volume by end-use: Coatings 59%, Plastics 30%, Paper 8%, Other 3%.

09-03-2026

GREENLIGHT CAPITAL RE, LTD. (GLRE) filed its 10-K annual report on March 09, 2026, with excerpts focusing on reinsurance terminology, Lloyd’s market operations including capital requirements (FAL deposits), ratings by agencies, and regulatory powers such as up to 5% premium levies. The table of contents outlines sections on business overview, consolidated and segment results (e.g., Open Market, Innovations, Runoff), financial condition, and critical accounting estimates, but no specific numerical financial performance data or period-over-period comparisons are provided in the content. Potential risks include intervention powers by Lloyd’s Council and debt-related vulnerabilities.

• ·Lloyd’s Central Fund provides additional security if FAL deposits are insufficient.
• ·Syndicates at Lloyd’s inherit the market-wide financial security rating.
• ·Table of contents includes segments: Open Market, Innovations, Other Corporate, Runoff Underwriting Business.

09-03-2026

Coherus Oncology, Inc. reported total net revenue of $42.2 million for the year ended December 31, 2025, up 59.8% YoY from $26.4 million in 2024, primarily driven by LOQTORZI sales surging 113.4% YoY to $40.8 million. However, other revenue declined sharply 81.6% YoY to $1.3 million from $7.3 million. The company remains eligible for two $37.5 million contingent payments from the UDENYCA franchise divestiture, dependent on post-closing net sales.

• ·Filing date: March 09, 2026
• ·Risks highlighted include manufacturing challenges from transitioning to onshoring biomanufacturing, inaccurate sales forecasting, longer payment cycles, accounts receivable collection difficulties, and compliance with U.S. Foreign Corrupt Practices Act

09-03-2026

AMERICAN COASTAL INSURANCE Corp (ACIC) reported net income of $106.8M for the year ended December 31, 2025, up 41% YoY from $75.7M in 2024, with diluted EPS increasing to $2.15 from $1.54 and book value per share rising to $6.51 from $4.89 amid a strong 36.2% ROE. Total revenue grew 13% YoY to $335.4M, supported by 12% higher net premiums earned ($306.9M) and improved combined ratio of 60.1% (down from 67.5%) due to sharply lower catastrophe losses (0.5% impact vs 9.3%). However, gross premiums written declined 5% to $612.5M, policy acquisition costs surged 38% to $97.8M, expense ratio rose to 45.1% from 42.2%, and operating cash flow fell sharply to $71.0M from $243.5M.

• ·Fixed maturities decreased to $253.2M (39.1% of portfolio) from $281.0M (52.0%) at Dec 31 2025 vs 2024.
• ·Cash and cash equivalents plus restricted cash increased to $292.9M from $199.4M.
• ·Unpaid losses and LAE reserves declined to $165.7M from $322.1M.
• ·Net cash from investing activities was positive $0.6M in 2025 vs negative $179.2M in 2024.

09-03-2026

Editas Medicine reported collaboration and R&D revenues of $40.5M for the year ended December 31, 2025, up 25% YoY from $32.3M. Operating expenses fell 29% to $200.5M, driven by R&D cuts of 55%, resulting in a narrower operating loss of $160.0M (-36% YoY) and net loss of $160.1M (32% improvement from $237.1M). However, restructuring and impairment charges ballooned to $60.7M from $12.2M, total assets shrank to $186.5M from $341.6M, marketable securities dropped to zero, and stockholders' equity plummeted to $27.3M from $134.3M.

• ·Marketable securities balance declined to $0 from $138.4M as of Dec 31, 2025.
• ·Liability for sale of future revenues increased to $58.6M from $57.4M.
• ·Net cash provided by investing activities $138.7M in 2025 vs $162.1M in 2024.
• ·Proceeds from at-the-market equity offering $42.8M in 2025.
• ·Cash, cash equivalents, and restricted cash increased to $149.3M from $135.4M.
• ·Net loss per share improved to $(1.80) from $(2.88).