Market Signal Briefing

Met or Exceeded All Guidance Metrics Provided
8% Year-Over-Year Increase in Consolidated Communities
Successfully Completed $900 Million Unsecured Debt Refinancing Extending Maturities Until 2031 and 2033
Operating Performance Reflects a $34 Million Expense from Refinancing and $19 Million in Land Charges

MATAWAN, N.J., Dec. 04, 2025 (GLOBE NEWSWIRE) -- Hovnanian Enterprises, Inc. (NYSE: HOV), a leading national homebuilder, reported results for its fiscal fourth quarter and year ended October 31, 2025.

RESULTS FOR THE THREE-MONTHS AND FULL YEAR ENDED OCTOBER 31, 2025:

Total revenues were $817.9 million in the fourth quarter of fiscal 2025, which was within the guidance range we provided, compared with $979.6 million in the same quarter of the prior year. For the year ended October 31, 2025, total revenues were $2.98 billion compared with $3.00 billion in fiscal 2024.Domestic unconsolidated joint ventures(1) sale of homes revenues for the fourth quarter of fiscal 2025 increased 27.3% to $180.4 million (285 homes) compared with $141.7 million (235 homes) for the three months ended October 31, 2024. For fiscal 2025, domestic unconsolidated joint ventures sale of homes revenues increased 17.6% to $621.6 million (934 homes) compared with $528.6 million (803 homes) in the fiscal year ended October 31, 2024.Homebuilding gross margin percentage, after cost of sales interest expense and land charges, was 10.7% (with 2.5% attributable to land charges) for the three months ended October 31, 2025, compared with 18.0% during the fourth quarter a year ago (with only 0.9% attributable to land charges). In fiscal 2025, homebuilding gross margin percentage, after cost of sales interest expense and land charges, was 12.7% compared with 18.7% in the prior fiscal year.Homebuilding gross margin percentage, before cost of sales interest expense and land charges, was 16.3% during the fiscal 2025 fourth quarter, which was within the guidance range we provided, compared with 21.7% in last year’s fourth quarter. For the year ended October 31, 2025, homebuilding gross margin percentage, before cost of sales interest expense and land charges, was 17.2% compared with 22.0% in the previous fiscal year.Total SG&A was $91.5 million, or 11.2% of total revenues, in the fourth quarter of fiscal 2025 compared with $87.7 million, or 9.0% of total revenues, in the fourth quarter of fiscal 2024. Total SG&A was $349.8 million, or 11.7% of total revenues, in fiscal 2025 compared with $342.2 million, or 11.4% of total revenues, in the previous fiscal year.Total interest expense as a percentage of total revenues increased to 4.2% for the fourth quarter of fiscal 2025, compared with 3.2% for the fourth quarter of fiscal 2024. The year-over-year increase in interest expense is primarily related to a few large communities in planning. For the year ended October 31, 2025, total interest expense as a percentage of total revenues was 4.2% compared with 4.0% in the previous fiscal year.The company incurred losses related to the early extinguishment of debt and land charges of $52.9 million, contributing to a loss before income taxes for the fourth quarter of fiscal 2025 of $4.1 million compared with income before income taxes of $117.9 million in the fourth quarter of the prior fiscal year. For fiscal 2025, income before income taxes was $86.1 million compared with $317.1 million during the prior fiscal year.Income before income taxes, excluding $19.4 million in land-related charges and a $33.5 million loss on extinguishment of debt related to our September 2025 debt refinancing, was $48.8 million in the fourth quarter of fiscal 2025, which was within the guidance range we provided, compared with income before these items of $125.8 million in the fourth quarter of fiscal 2024. For the year ended October 31, 2025, income before income taxes excluding land-related charges and loss (gain) on extinguishment of debt, net was $158.8 million compared with income before these items of $327.3 million in fiscal 2024.Net loss was $0.7 million, or $0.51 per diluted common share, for the three months ended October 31, 2025, compared with net income of $94.3 million, or $12.79 per diluted common share, in the same period of the previous fiscal year. For fiscal 2025, net income was $63.9 million, or $7.43 per diluted common share, compared with net income of $242.0 million, or $31.79 per diluted common share, during fiscal 2024.EBITDA was $35.7 million for the fourth quarter of fiscal 2025 compared with $151.0 million for the fourth quarter of the prior year. For fiscal 2025, EBITDA was $226.4 million compared with $445.4 million in the prior year. Reported EBITDA is inclusive of the loss on extinguishment of debt and land related charges of $52.9 million discussed above.Adjusted EBITDA was $88.6 million for the quarter ended October 31, 2025, which was above the high end of the guidance range we provided, compared with $159.0 million in the fourth quarter of the prior fiscal year. For the year ended October 31, 2025, adjusted EBITDA was $299.1 million compared with $455.6 million in the previous fiscal year.Consolidated contracts in the fourth quarter of fiscal 2025 decreased 10.8% to 1,209 homes ($629.2 million) compared with 1,355 homes ($705.6 million) in the same quarter last year. Contracts, including domestic unconsolidated joint ventures, for the three months ended October 31, 2025, decreased 7.7% to 1,450 homes ($787.1 million) compared with 1,571 homes ($845.7 million) in the fourth quarter of fiscal 2024. Last year's results were reflective of an exceptionally strong market, with contracts that included domestic unconsolidated joint ventures rising by 81.6% in October 2024.As of October 31, 2025, the number of consolidated communities increased by 7.7% to 140, compared with 130 communities as of October 31, 2024. Including domestic unconsolidated joint ventures, community count grew by 6.1% to 156 as of October 31, 2025, up from 147 as of October 31, 2024.Consolidated contracts per community declined by 17.3% year-over-year to 8.6 in the fourth quarter of fiscal 2025, compared to 10.4 in the same quarter of fiscal 2024. When including domestic unconsolidated joint ventures, contracts per community decreased by 13.1% to 9.3 for the three months ended October 31, 2025, compared with 10.7 in the prior year period. As discussed above, we had an exceptionally strong fourth quarter of fiscal 2024, which included a 56.5% year-over-year increase in consolidated contracts per community in October of 2024.The dollar value of consolidated contract backlog, as of October 31, 2025, decreased 22.4% to $726.5 million compared with $936.8 million as of October 31, 2024. The dollar value of contract backlog, including domestic unconsolidated joint ventures, as of October 31, 2025, decreased 25.2% to $923.2 million compared with $1.23 billion as of October 31, 2024. The year-over-year decrease in backlog dollars is partly due to increased sales of quick move in homes (QMIs), which are typically in backlog for a very short period of time.The gross contract cancellation rate for the fourth quarter ended October 31, 2025, was 17% for both consolidated contracts and domestic unconsolidated joint venture contracts, compared with 18% for both items in the fourth quarter of the prior year.For the trailing twelve-month period our net income return on inventory was 3.8% and our adjusted earnings before interest and income taxes return on investment (Adjusted EBIT ROI) was 17.7%. For the most recently reported trailing twelve-month periods, we believe we had the second highest Adjusted EBIT ROI compared to nine of our publicly traded midsized homebuilder peers.
(1)When we refer to “Domestic Unconsolidated Joint Ventures”, we are excluding results from our multi-community unconsolidated joint venture in the Kingdom of Saudi Arabia (KSA).

LIQUIDITY AND INVENTORY AS OF OCTOBER 31, 2025:

During the fourth quarter of fiscal 2025, land and land development spending was $199.4 million compared with $318.4 million in the same quarter one year ago. For fiscal 2025, land and land development spending was $859.4 million compared with $995.4 million in the prior year.Total liquidity as of October 31, 2025, was $404.1 million, which was significantly above our target liquidity range of $170 million to $245 million.In the fourth quarter of fiscal 2025, approximately 3,100 lots were put under option or acquired in 32 consolidated communities.As of October 31, 2025, our total controlled consolidated lots were 35,883 compared with 41,891 lots at the end of the previous fiscal year’s fourth quarter. Continuing our land-light strategic focus, 85% of our lots were optioned at the end of the fourth quarter of fiscal 2025. Based on trailing twelve-month deliveries, the current position equaled 6.5 years’ supply.Total QMIs as of October 31, 2025, were 907, a decline of 10.7% compared with 1,016 as of July 31, 2025, illustrating our efforts to match our starts with our sales pace. This equates to 6.5 QMIs per community as of October 31 2025. DEBT REFINANCING:

The Company issued $450.0 million aggregate principal amount of 8.0% Senior Notes due 2031 and $450.0 million aggregate principal amount of 8.375% Senior Notes due 2033.The Company used the net proceeds from the new issuances to redeem all of its outstanding secured notes consisting of 8.0% Senior Secured 1.125 Lien Notes due 2028 and 11.75% Senior Secured 1.25 Lien Notes due 2029, as well as to repay in full all loans outstanding under its Senior Secured 1.75 Lien Term Loan Facility due 2028.The Company entered into a Fourth Amendment to the Credit Agreement governing its $125 million secured revolving credit facility which, among other things, extended the final scheduled maturity thereof by two years to June 30, 2028.Key benefits of the refinancing: Simplified capital structure: Replaced multiple tiers of secured debt with unsecured notes.Extended maturity runway: The transaction refinanced all of the Company’s secured debt maturing in fiscal 2028 and 2029 and proactively extended these maturities to fiscal 2031 and fiscal 2033 with unsecured notes.Decreased interest incurred: Despite the nominal increase in debt outstanding, we are pleased that the transaction resulted in $12 million decrease in annual interest incurred.Extended the revolver maturity: The transaction extended the maturity of the revolver, which was the nearest term maturity, from the third quarter of fiscal 2026 until the third quarter of fiscal 2028. FINANCIAL GUIDANCE(2):

The Company is providing guidance for total revenues, adjusted homebuilding gross margin, adjusted income before income taxes and adjusted EBITDA for the first quarter of fiscal 2026. Financial guidance below assumes no adverse changes in current market conditions, including deterioration in our supply chain or material increases in mortgage rates, inflation or cancellation rates, and excludes further impact to SG&A expenses from phantom stock expense related solely to stock price movements from the closing price of $120.23 on October 31, 2025.

For the first quarter of fiscal 2026, total revenues are expected to be between $550 million and $650 million, adjusted homebuilding gross margin is expected to be between 13.0% and 14.0%, adjusted income before income taxes is expected to be between $10 million and $20 million and adjusted EBITDA is expected to be between $35 million and $45 million.

(2)The Company cannot provide a reconciliation between its non-GAAP projections and the most directly comparable GAAP measures without unreasonable efforts because it is unable to predict with reasonable certainty the ultimate outcome of certain significant items required for the reconciliation. These items include, but are not limited to, land-related charges, inventory impairments and land option write-offs and loss (gain) on extinguishment of debt, net. These items are uncertain, depend on various factors and could have a material impact on GAAP reported results.

COMMENTS FROM MANAGEMENT:

“Despite a tough housing market, our team performed very well, meeting or beating all of our guidance for the quarter,” said Ara K. Hovnanian, Chairman of the Board and Chief Executive Officer. “To maintain sales pace, we continued to rely on incentives, which lowered our gross profit margins but allowed us to sell older, less profitable land. In the fourth quarter, we averaged 8.6 contracts per community. Given our recent land acquisitions, we expect our gross margin percentage to be lowest in the first quarter of fiscal 2026 and to gradually increase in the following quarters. This gives us a strong base for long-term value creation for our shareholders.”

“This quarter marked a significant milestone in strengthening our capital structure with the successful refinancing of our secured debt with unsecured bonds—a culmination of years of disciplined liability management and strategic capital market activity. By improving our financial flexibility and reducing risk, we’ve positioned ourselves to invest strategically in growth, while navigating market cycles with confidence. Our focus remains unwavering: delivering industry-leading returns to our shareholders over the long term through prudent financial stewardship and operational excellence,” concluded Mr. Hovnanian.

WEBCAST INFORMATION:

Hovnanian Enterprises will webcast its fiscal 2025 fourth quarter and full year financial results conference call at 11:00 a.m. E.T. on Thursday, December 4, 2025. The webcast can be accessed live through the “Investor Relations” section of Hovnanian Enterprises’ website at http://www.khov.com. For those who are not available to listen to the live webcast, an archive of the broadcast will be available under the “Past Events” section of the Investor Relations page on the Hovnanian website at http://www.khov.com. The archive will be available for 12 months.

ABOUT HOVNANIAN ENTERPRISES, INC.:

Hovnanian Enterprises, Inc., founded in 1959 by Kevork S. Hovnanian, is headquartered in Matawan, New Jersey and, through its subsidiaries, is one of the nation’s largest homebuilders with operations in Arizona, California, Delaware, Florida, Georgia, Maryland, New Jersey, Ohio, Pennsylvania, South Carolina, Texas, Virginia and West Virginia. The Company’s homes are marketed and sold under the trade name K. Hovnanian Homes. Additionally, the Company’s subsidiaries, as developers of K. Hovnanian’s Four Seasons communities, make the Company one of the nation’s largest builders of active lifestyle communities.

Additional information on Hovnanian Enterprises, Inc. can be accessed through the “Investor Relations” section of the Hovnanian Enterprises’ website at http://www.khov.com. To be added to Hovnanian's investor e-mail list, please send an e-mail to [email protected] or sign up at http://www.khov.com.

NON-GAAP FINANCIAL MEASURES:

Consolidated earnings before interest expense and income taxes (“EBIT”) and before depreciation and amortization (“EBITDA”) and before inventory impairments and land option write-offs and loss (gain) on extinguishment of debt, net (“Adjusted EBITDA”), the ratio of Adjusted EBITDA to interest incurred and EBIT before inventory impairments and land option write-offs and loss (gain) on extinguishment of debt, net (“Adjusted EBIT”) are not U.S. generally accepted accounting principles (“GAAP”) financial measures. The most directly comparable GAAP financial measure is net (loss) income. The reconciliation for historical periods of EBIT, EBITDA, Adjusted EBIT and Adjusted EBITDA to net (loss) income are presented in tables attached to this earnings release.

Homebuilding gross margin, before cost of sales interest expense and land charges, and homebuilding gross margin percentage, before cost of sales interest expense and land charges, are non-GAAP financial measures. The most directly comparable GAAP financial measures are homebuilding gross margin and homebuilding gross margin percentage, respectively. The reconciliation for historical periods of homebuilding gross margin, before cost of sales interest expense and land charges, and homebuilding gross margin percentage, before cost of sales interest expense and land charges, to homebuilding gross margin and homebuilding gross margin percentage, respectively, is presented in a table attached to this earnings release.

Adjusted income before income taxes, which is defined as (loss) income before income taxes excluding land-related charges and loss (gain) on extinguishment of debt, net is a non-GAAP financial measure. The most directly comparable GAAP financial measure is (loss) income before income taxes. The reconciliation for historical periods of adjusted income before income taxes to (loss) income before income taxes is presented in a table attached to this earnings release.

Adjusted investment, which is defined as total inventories excluding liabilities from inventory not owned, net of debt issuance costs and interest capitalized and including investments in and advances to unconsolidated joint ventures (“Adjusted Investment”), is a non-GAAP financial measure. The most directly comparable GAAP financial measure is total inventories. The reconciliation for historical periods of Adjusted Investment to total inventories is presented in a table attached to this earnings release.

The ratio of Adjusted EBIT return on adjusted investment (“Adjusted EBIT ROI”), which is the ratio of Adjusted EBIT for the trailing twelve-months, to the average Adjusted Investment for the prior five fiscal quarters, is a non-GAAP financial measure. The most directly comparable GAAP financial measure is the ratio of net income return to total inventories. The presentation of the ratios of Adjusted EBIT ROI and net income return on inventory are presented in a table attached to this earnings release.

Total liquidity is comprised of $272.8 million of cash and cash equivalents, $6.3 million of restricted cash required to collateralize letters of credit and $125.0 million available under a senior secured revolving credit facility as of October 31, 2025.

FORWARD-LOOKING STATEMENTS

All statements in this press release that are not historical facts should be considered as “Forward-Looking Statements” within the meaning of the “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such forward-looking statements include but are not limited to statements related to the Company’s goals and expectations with respect to its financial results for future financial periods and statements regarding demand for homes, mortgage rates, inflation, supply chain issues, customer incentives and underlying factors. Although we believe that our plans, intentions and expectations reflected in, or suggested by, such forward-looking statements are reasonable, we can give no assurance that such plans, intentions or expectations will be achieved. By their nature, forward-looking statements: (i) speak only as of the date they are made, (ii) are not guarantees of future performance or results and (iii) are subject to risks, uncertainties and assumptions that are difficult to predict or quantify. Therefore, actual results could differ materially and adversely from those forward-looking statements as a result of a variety of factors. Such risks, uncertainties and other factors include, but are not limited to, (1) changes in general and local economic, industry and business conditions and impacts of a significant homebuilding downturn; (2) shortages in, and price fluctuations of, raw materials and labor, including due to geopolitical events, changes in trade policies, including the imposition of tariffs and duties on homebuilding materials and products and related trade disputes with and retaliatory measures taken by other countries and changes in immigration laws or the enforcement thereof and trends in labor migration; (3) fluctuations in interest rates and the availability of mortgage financing, including as a result of instability in the banking sector; (4) increases in inflation; (5) adverse weather and other environmental conditions and natural or man-made disasters; (6) the seasonality of the Company’s business; (7) the availability and cost of suitable land and improved lots and sufficient liquidity to invest in such land and lots; (8) reliance on, and the performance of, subcontractors; (9) regional and local economic factors, including dependency on certain sectors of the economy, and employment levels affecting home prices and sales activity in the markets where the Company builds homes; (10) increases in cancellations of agreements of sale; (11) changes in tax laws affecting the after-tax costs of owning a home; (12) legal claims brought against us and not resolved in our favor, such as product liability litigation, warranty claims and claims made by mortgage investors; (13) levels of competition; (14) utility shortages and outages or rate fluctuations; (15) information technology failures and data security breaches; (16) negative publicity; (17) global economic and political instability (18) high leverage and restrictions on the Company’s operations and activities imposed by the agreements governing the Company’s outstanding indebtedness; (19) availability and terms of financing to the Company; (20) the Company’s sources of liquidity; (21) changes in credit ratings; (22) government regulation, including regulations concerning the development of land, the home building, sales and customer financing processes, tax laws and environmental, health and safety matters; (23) potential liability as a result of the past or present use of hazardous materials; (24) operations through unconsolidated joint ventures with third parties; (25) significant influence of the Company’s controlling stockholders; (26) availability of net operating loss carryforwards; (27) loss of key management personnel or failure to attract qualified personnel; and (28) certain risks, uncertainties and other factors described in detail in the Company’s Annual Report on Form 10-K for the fiscal year ended October 31, 2024 and the Company’s Quarterly Reports on Form 10-Q for the quarterly periods during fiscal 2025 and subsequent filings with the Securities and Exchange Commission. Except as otherwise required by applicable securities laws, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changed circumstances or any other reason.

Hovnanian Enterprises, Inc.October 31, 2025Statements of consolidated operations(In thousands, except per share data) Three Months Ended Year Ended
 October 31, October 31,
 2025  2024 2025  2024
 (Unaudited) (Unaudited)
Total revenues$817,904  $979,638 $2,978,581  $3,004,918 Costs and expenses (1) 801,178   877,221  2,905,818   2,741,462 (Loss) gain on extinguishment of debt, net (33,512)  -  (33,113)  1,371 Income from unconsolidated joint ventures 12,678   15,448  46,437   52,262 (Loss) income before income taxes (4,108)  117,865  86,087   317,089 Income tax (benefit) provision (3,441)  23,516  22,222   75,081 Net (loss) income (667)  94,349  63,865   242,008 Less: preferred stock dividends 2,668   2,668  10,675   10,675 Net (loss) income available to common stockholders$(3,335) $91,681 $53,190  $231,333                                     Per share data:           Basic:           Net (loss) income per common share$(0.51) $13.84 $7.95  $34.40 Weighted average number of common shares outstanding 6,468   6,487  6,449   6,479 Assuming dilution:           Net (loss) income per common share$(0.51) $12.79 $7.43  $31.79 Weighted average number of common shares outstanding 6,468   7,017  6,892   7,007             (1) Includes inventory impairments and land option write-offs.  Hovnanian Enterprises, Inc.October 31, 2025Reconciliation of income before income taxes excluding land-related charges and loss (gain) on extinguishment of debt, net to (loss) income before income taxes(In thousands)                        Three Months Ended Year Ended
 October 31, October 31,
 2025  2024 2025  2024
 (Unaudited) (Unaudited)
(Loss) income before income taxes$(4,108) $117,865 $86,087  $317,089 Inventory impairments and land option write-offs 19,430   7,918  39,571   11,556 Loss (gain) on extinguishment of debt, net 33,512   -  33,113   (1,371)Income before income taxes excluding land-related charges and loss (gain) on extinguishment of debt, net (1)$48,834  $125,783 $158,771  $327,274             (1) Income before income taxes excluding land-related charges and loss (gain) on extinguishment of debt, net is a non-GAAP financial measure. The most directly comparable GAAP financial measure is (loss) income before income taxes. Hovnanian Enterprises, Inc.October 31, 2025Gross margin(In thousands)   Homebuilding Gross Margin Homebuilding Gross Margin   Three Months Ended Year Ended   October 31, October 31,   2025 2024 2025 2024    (Unaudited) (Unaudited)Sale of homes  $786,630 $927,499 $2,852,908 $2,875,488 Cost of sales, excluding interest expense and land charges (1)   658,528  726,491  2,360,888  2,241,749 Homebuilding gross margin, before cost of sales interest expense and land charges (2)   128,102  201,008  492,020  633,739 Cost of sales interest expense, excluding land sales interest expense   24,813  25,925  90,357  87,717 Homebuilding gross margin, after cost of sales interest expense, before land charges (2)   103,289  175,083  401,663  546,022 Land charges   19,430  7,918  39,571  8,903 Homebuilding gross margin  $83,859 $167,165 $362,092 $537,119               Homebuilding gross margin percentage   10.7%  18.0%  12.7%  18.7% Homebuilding gross margin percentage, before cost of sales interest expense and land charges (2)   16.3%  21.7%  17.2%  22.0% Homebuilding gross margin percentage, after cost of sales interest expense, before land charges (2)   13.1%  18.9%  14.1%  19.0%                  Land Sales Gross Margin Land Sales Gross Margin   Three Months Ended Year Ended   October 31, October 31,   2025 2024 2025 2024    (Unaudited) (Unaudited)Land and lot sales  $983 $26,974 $21,606 $42,757 Cost of sales, excluding interest (1)   -  8,846  10,475  21,635 Land and lot sales gross margin, excluding interest and land charges   983  18,128  11,131  21,122 Land and lot sales interest expense   -  125  618  2,090 Land and lot sales gross margin, including interest  $983 $18,003 $10,513 $19,032                             (1) Does not include cost associated with walking away from land options or inventory impairment losses which are recorded as Inventory impairment loss and land option write-offs in the Consolidated Statements of Operations.              (2) Homebuilding gross margin, before cost of sales interest expense and land charges, and homebuilding gross margin percentage, before cost of sales interest expense and land charges, are non-GAAP financial measures. The most directly comparable GAAP financial measures are homebuilding gross margin and homebuilding gross margin percentage, respectively. Hovnanian Enterprises, Inc.October 31, 2025Reconciliation of adjusted EBITDA to net (loss) income(In thousands) Three Months Ended Year Ended
 October 31, October 31,
 2025
  2024  2025  2024
 (Unaudited) (Unaudited)
Net (loss) income$(667) $94,349  $63,865  $242,008 Income tax (benefit) provision (3,441)  23,516   22,222   75,081 Interest expense 34,443   31,120   126,416   120,559 EBIT (1) 30,335   148,985   212,503   437,648 Depreciation and amortization 5,350   2,051   13,863   7,730 EBITDA (2) 35,685   151,036   226,366   445,378 Inventory impairments and land option write-offs 19,430   7,918   39,571   11,556 Loss (gain) on extinguishment of debt, net 33,512   -   33,113   (1,371)Adjusted EBITDA (3)$88,627  $158,954  $299,050  $455,563             Interest incurred$28,776  $34,199  $116,986  $128,777             Adjusted EBITDA to interest incurred 3.08   4.65   2.56   3.54                         (1) EBIT is a non-GAAP financial measure. The most directly comparable GAAP financial measure is net (loss) income. EBIT represents earnings before interest expense and income taxes. (2) EBITDA is a non-GAAP financial measure. The most directly comparable GAAP financial measure is net (loss) income. EBITDA represents earnings before interest expense, income taxes, depreciation and amortization. (3) Adjusted EBITDA is a non-GAAP financial measure. The most directly comparable GAAP financial measure is net (loss) income. Adjusted EBITDA represents earnings before interest expense, income taxes, depreciation, amortization, inventory impairments and land option write-offs and (loss) gain on extinguishment of debt, net.   Hovnanian Enterprises, Inc.October 31, 2025Interest incurred, expensed and capitalized(In thousands) Three Months Ended Year Ended  October 31, October 31,  2025 2024  2025  2024  (Unaudited) (Unaudited) Interest capitalized at beginning of period$48,139  $54,592  $57,671  $52,060 Plus: interest incurred 28,776   34,199   116,986   128,777 Less: interest expensed (34,443)  (31,120)  (126,416)  (120,559)Less: interest contributed to unconsolidated joint ventures (1) (322)  -   (6,091)  (5,468)Plus: interest acquired from unconsolidated joint ventures (2) 1,113   -   1,113   2,861 Interest capitalized at end of period (3)$43,263  $57,671  $43,263  $57,671             (1) Represents capitalized interest which was included as part of the assets contributed to joint ventures the company entered into during the three months and year ended October 31, 2025, and the year ended October 31, 2024. There was no impact to the Consolidated Statement of Operations as a result of these transactions. (2) Represents capitalized interest which was included as part of the assets acquired from joint ventures the company closed out during the three months and year ended October 31, 2025, and the year ended October 31, 2024. There was no impact to the Consolidated Statement of Operations as a result of these transactions. (3) Capitalized interest amounts are shown gross before the allocation of impairments, if any, to capitalized interest. Hovnanian Enterprises, Inc.October 31, 2025Reconciliation of Adjusted EBIT Return on Adjusted Investment(in thousands)           TTM    For the quarter ended ended    1/31/2025
  4/30/2025
  7/31/2025
  10/31/2025
  10/31/2025Net income (loss)   $28,191  $19,726  $16,615  $(667)  $63,865                             As of Five
Quarter  10/31/2024
  1/31/2025
  4/30/2025
  7/31/2025
  10/31/2025
  AverageTotal inventories $1,644,804  $1,666,490  $1,743,965  $1,692,932  $1,637,470  $1,677,132 Return on Inventory            3.8%                                       TTM   For the quarter ended ended    1/31/2025
  4/30/2025
  7/31/2025
  10/31/2025
  10/31/2025Net income (loss)   $28,191  $19,726  $16,615  $(667)  $63,865 Income tax provision (benefit)    11,672   6,804   7,187   (3,441)   22,222 Interest expense    28,873   29,083   34,017   34,443   126,416 EBIT (1)    68,736   55,613   57,819   30,335   212,503 Inventory impairments and land option write-offs    1,040   3,056   16,045   19,430   39,571 (Gain) loss on extinguishment of debt, net    -   (399)   -   33,512   33,113 Adjusted EBIT (2)   $69,776  $58,270  $73,864  $83,277  $285,187            As of     10/31/2024
  1/31/2025
  4/30/2025
  7/31/2025
  10/31/2025
   Total inventories $1,644,804  $1,666,490  $1,743,965  $1,692,932  $1,637,470   Less Liabilities from inventory not owned, net of debt issuance costs  (140,298)   (156,274)   (173,098)   (236,644)   (244,723)   Less Interest capitalized at end of period  (57,671)   (52,884)   (53,633)   (48,139)   (43,263)  FivePlus Investments in and advances to unconsolidated joint ventures  142,910   172,679   183,461   218,356   163,469  Quarter
AverageAdjusted Investment (3) $1,589,745  $1,630,011  $1,700,695  $1,626,505  $1,512,953  $1,611,982 Adjusted EBIT Return on Adjusted Investment (4)            17.7%                           (1) EBIT is a non-GAAP financial measure. The most directly comparable GAAP financial measure is net income (loss). EBIT represents earnings before interest expense and income taxes.
(2) Adjusted EBIT is a non-GAAP financial measure. The most directly comparable GAAP financial measure is net income (loss). Adjusted EBIT represents earnings before interest expense, income taxes, inventory impairments and land option write-offs and loss (gain) on extinguishment of debt, net.
(3) Adjusted Investment is a non-GAAP financial measure. The most directly comparable GAAP financial measure is total inventories. Adjusted Investment represents total inventories excluding liabilities from inventory not owned, net of debt issuance costs and interest capitalized and including investments in and advances to unconsolidated joint ventures.
(4) The ratio of Adjusted EBIT Return on Adjusted Investment is a non-GAAP financial measure. The most directly comparable GAAP financial measure is the ratio of net income (loss) to total inventories.
HOVNANIAN ENTERPRISES, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except per share data)
(Unaudited)   October 31,  October 31,   2025  2024          ASSETS        Homebuilding:        Cash and cash equivalents $272,772  $209,976 Restricted cash and cash equivalents  12,608   7,875 Inventories:        Sold and unsold homes and lots under development  1,132,798   1,195,318 Land and land options held for future development or sale  171,793   238,499 Consolidated inventory not owned  332,879   210,987 Total inventories  1,637,470   1,644,804 Investments in and advances to unconsolidated joint ventures  163,469   142,910 Receivables, deposits and notes, net  26,454   29,400 Property and equipment, net  50,539   43,431 Prepaid expenses and other assets  89,773   82,525 Total homebuilding  2,253,085   2,160,921 Financial services  151,211   203,589 Deferred tax assets, net  229,617   241,064 Total assets $2,633,913  $2,605,574          LIABILITIES AND EQUITY        Homebuilding:        Nonrecourse mortgages secured by inventory, net of debt issuance costs $29,494  $90,675 Accounts payable and other liabilities  438,698   433,273 Customers’ deposits  46,376   41,639 Liabilities from inventory not owned, net of debt issuance costs  244,723   140,298 Senior notes and credit facilities (net of discounts, premiums and debt issuance costs)  900,718   896,218 Accrued interest  11,874   14,508 Total homebuilding  1,671,883   1,616,611 Financial services  130,873   183,135 Income taxes payable  222   5,479 Total liabilities  1,802,978   1,805,225          Equity:        Preferred stock, $0.01 par value - authorized 100,000 shares; issued and outstanding 5,600 shares with a liquidation preference of $140,000 at October 31, 2025 and October 31, 2024  135,299   135,299 Common stock, Class A, $0.01 par value - authorized 16,000,000 shares; issued 6,503,722 shares at October 31, 2025 and 6,415,794 shares at October 31, 2024  65   64 Common stock, Class B, $0.01 par value (convertible to Class A at time of sale) - authorized 2,400,000 shares; issued 812,410 shares at October 31, 2025 and 757,023 shares at October 31, 2024  8   8 Paid in capital - common stock  757,391   749,752 Retained earnings  127,326   74,136 Treasury stock - at cost – 1,348,087 shares of Class A common stock at October 31, 2025 and 1,090,179 shares at October 31, 2024; 27,669 shares of Class B common stock at October 31, 2025 and October 31, 2024  (189,154)  (158,910)Total equity  830,935   800,349 Total liabilities and equity $2,633,913  $2,605,574  HOVNANIAN ENTERPRISES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(In Thousands Except Per Share Data)
(Unaudited)  Three Months Ended October 31,  Year Ended October 31,   2025  2024  2025
 2024                  Revenues:                Homebuilding:                Sale of homes $786,630  $927,499  $2,852,908  $2,875,488 Land sales and other revenues  3,125   29,398   30,698   55,366 Total homebuilding  789,755   956,897   2,883,606   2,930,854 Financial services  28,149   22,741   94,975   74,064 Total revenues  817,904   979,638   2,978,581   3,004,918                  Expenses:                Homebuilding:                Cost of sales, excluding interest  658,528   735,337   2,371,363   2,263,384 Cost of sales interest  24,813   26,050   90,975   89,807 Inventory impairment loss and land option write-offs  19,430   7,918   39,571   11,556 Total cost of sales  702,771   769,305   2,501,909   2,364,747 Selling, general and administrative  51,275   56,071   212,362   202,486 Total homebuilding expenses  754,046   825,376   2,714,271   2,567,233                  Financial services  14,958   14,084   56,001   49,940 Corporate general and administrative  40,255   31,610   137,476   139,740 Other interest  9,630   5,070   35,441   30,752 Other (income) expenses, net (1)  (17,711)  1,081   (37,371)  (46,203)Total expenses  801,178   877,221   2,905,818   2,741,462 (Loss) gain on extinguishment of debt, net  (33,512)  -   (33,113)  1,371 Income from unconsolidated joint ventures  12,678   15,448   46,437   52,262 (Loss) income before income taxes  (4,108)  117,865   86,087   317,089 State and federal income tax provision (benefit):                State  5,351   (2,482)  12,521   10,851 Federal  (8,792)  25,998   9,701   64,230 Total income taxes  (3,441)  23,516   22,222   75,081 Net (loss) income  (667)  94,349   63,865   242,008 Less: preferred stock dividends  2,668   2,668   10,675   10,675 Net (loss) income available to common stockholders $(3,335) $91,681  $53,190  $231,333                  Per share data:                Basic:                Net (loss) income per common share $(0.51) $13.84  $7.95  $34.40 Weighted-average number of common shares outstanding  6,468   6,487   6,449   6,479 Assuming dilution:                Net (loss) income per common share $(0.51) $12.79  $7.43  $31.79 Weighted-average number of common shares outstanding  6,468   7,017   6,892   7,007  (1) Includes gain on consolidation of a joint venture of $18.9 million and $45.7 million for the years ended October 31, 2025 and 2024, respectively.

HOVNANIAN ENTERPRISES, INC.(DOLLARS IN THOUSANDS EXCEPT AVG. PRICE)(SEGMENT DATA EXCLUDES UNCONSOLIDATED JOINT VENTURES)   Contracts (1)DeliveriesContract  Three Months EndedThree Months EndedBacklog  October 31,October 31,October 31,  20252024% Change20252024% Change20252024% ChangeNortheast (2)                (DE, MD, NJ, OH, PA, VA, WV)Home 442 463(4.5)%  594 5792.6%  631 782(19.3)%  Dollars$244,509$279,076(12.4)% $320,675$365,115(12.2)% $383,131$531,481(27.9)%  Avg. Price$553,188$602,756(8.2)% $539,857$630,596(14.4)% $607,181$679,643(10.7)% Southeast (2)                (FL, GA, SC)Home 178 12938.0%  232 20612.6%  220 239(7.9)%  Dollars$85,156$72,70917.1% $118,915$98,00321.3% $127,668$121,9744.7%  Avg. Price$478,404$563,636(15.1)% $512,565$475,7437.7% $580,309$510,35113.7% West                (AZ, CA, TX)Home 589 763(22.8)%  700 962(27.2)%  391 628(37.7)%  Dollars$299,518$353,779(15.3)% $347,040$464,381(25.3)% $215,750$283,377(23.9)%  Avg. Price$508,520$463,6689.7% $495,771$482,7252.7% $551,790$451,23722.3% Consolidated Total                 Home 1,209 1,355(10.8)%  1,526 1,747(12.7)%  1,242 1,649(24.7)%  Dollars$629,183$705,564(10.8)% $786,630$927,499(15.2)% $726,549$936,832(22.4)%  Avg. Price$520,416$520,711(0.1)% $515,485$530,910(2.9)% $584,983$568,1213.0% Unconsolidated Joint Ventures (2) (3)                (excluding KSA JV)Home 241 21611.6%  285 23521.3%  275 403(31.8)%  Dollars$157,943$140,09012.7% $180,366$141,69827.3% $196,633$297,902(34.0)%  Avg. Price$655,365$648,5651.0% $632,863$602,9705.0% $715,029$739,211(3.3)% Grand Total                 Home 1,450 1,571(7.7)%  1,811 1,982(8.6)%  1,517 2,052(26.1)%  Dollars$787,126$845,654(6.9)% $966,996$1,069,197(9.6)% $923,182$1,234,734(25.2)%  Avg. Price$542,846$538,2900.8% $533,957$539,454(1.0)% $608,558$601,7221.1%  KSA JV Only                 Home 116 6870.6%  - 3(100.0)%  723 276162.0%  Dollars$27,469$17,34158.4% $-$429(100.0)% $175,777$64,360173.1%  Avg. Price$236,802$255,015(7.1)% $-$143,000(100.0)% $243,122$233,1884.3%  DELIVERIES INCLUDE EXTRASNotes:(1) Contracts are defined as new contracts signed during the period for the purchase of homes, less cancellations of prior contracts.(2) Reflects the reclassification of 22 homes and $14.4 million of contract backlog and 46 homes and $30.7 million of contract backlog as of October 31, 2025 from unconsolidated joint ventures to the consolidated Northeast and Southeast segments, respectively. This is related to the consolidation of the remaining assets and liabilities from an unconsolidated joint venture the Company closed out and two active selling communities from another unconsolidated joint venture that were consolidated during the three months ended October 31, 2025.(3) Represents home deliveries, home revenues and average prices for our unconsolidated homebuilding joint ventures for the period. We provide this data as a supplement to our consolidated results as an indicator of the volume managed in our unconsolidated homebuilding joint ventures. Our proportionate share of the income or loss of unconsolidated homebuilding and land development joint ventures is reflected as a separate line item in our consolidated financial statements under “Income from unconsolidated joint ventures”. HOVNANIAN ENTERPRISES, INC.(DOLLARS IN THOUSANDS EXCEPT AVG. PRICE)(SEGMENT DATA EXCLUDES UNCONSOLIDATED JOINT VENTURES)   Contracts (1)DeliveriesContract  Years EndedYears EndedBacklog  October 31,October 31,October 31,  20252024% Change20252024% Change20252024% ChangeNortheast (2) (3) (5)                (DE, MD, NJ, OH, PA, VA, WV)Home 1,795 1,809(0.8)%  1,968 1,64619.6%  631 782(19.3)%  Dollars$983,961$1,114,885(11.7)% $1,146,746$1,007,59613.8% $383,131$531,481(27.9)%  Avg. Price$548,168$616,299(11.1)% $582,696$612,148(4.8)% $607,181$679,643(10.7)% Southeast (2) (5)                (FL, GA, SC)Home 639 51723.6%  704 878(19.8)%  220 239(7.9)%  Dollars$324,393$279,43116.1% $349,448$447,804(22.0)% $127,668$121,9744.7%  Avg. Price$507,657$540,485(6.1)% $496,375$510,027(2.7)% $580,309$510,35113.7% West (4)                (AZ, CA, TX)Home 2,589 2,860(9.5)%  2,824 2,8240.0%  391 628(37.7)%  Dollars$1,290,351$1,367,203(5.6)% $1,356,714$1,420,088(4.5)% $215,750$283,377(23.9)%  Avg. Price$498,397$478,0434.3% $480,423$502,864(4.5)% $551,790$451,23722.3% Consolidated Total                 Home 5,023 5,186(3.1)%  5,496 5,3482.8%  1,242 1,649(24.7)%  Dollars$2,598,705$2,761,519(5.9)% $2,852,908$2,875,488(0.8)% $726,549$936,832(22.4)%  Avg. Price$517,361$532,495(2.8)% $519,088$537,675(3.5)% $584,983$568,1213.0% Unconsolidated Joint Ventures                (excluding KSA JV)Home 872 8216.2%  934 80316.3%  275 403(31.8)% (2) (3) (4) (5) (6)Dollars$564,259$561,0630.6% $621,608$528,61217.6% $196,633$297,902(34.0)%  Avg. Price$647,086$683,390(5.3)% $665,533$658,2961.1% $715,029$739,211(3.3)% Grand Total                 Home 5,895 6,007(1.9)%  6,430 6,1514.5%  1,517 2,052(26.1)%  Dollars$3,162,964$3,322,582(4.8)% $3,474,516$3,404,1002.1% $923,182$1,234,734(25.2)%  Avg. Price$536,550$553,118(3.0)% $540,360$553,422(2.4)% $608,558$601,7221.1%  KSA JV Only                 Home 448 27662.3%  1 50(98.0)%  723 276162.0%  Dollars$111,594$66,65167.4% $177$10,416(98.3)% $175,777$64,360173.1%  Avg. Price$249,094$241,4893.1% $177,000$208,320(15.0)% $243,122$233,1884.3%  DELIVERIES INCLUDE EXTRASNotes:(1) Contracts are defined as new contracts signed during the period for the purchase of homes, less cancellations of prior contracts.(2) Reflects the reclassification of 86 homes and $70.1 million of contract backlog and 13 homes and $10.6 million of contract backlog as of April 30, 2024 from the consolidated Northeast and Southeast segments, respectively, to unconsolidated joint ventures. This is related to the assets and liabilities contributed to a joint venture the company entered into during the three months ended April 30, 2024.
(3) Reflects the reclassification of 88 homes and $74.2 million of contract backlog as of July 31, 2024 from the unconsolidated joint ventures to the consolidated Northeast segment. This is related to the assets and liabilities acquired from a joint venture the company closed out during the three months ended July 31, 2024.
(4) Reflects the reclassification of 8 homes and $5.0 million of contract backlog as of January 31, 2025, from the consolidated West segment to unconsolidated joint ventures. This is related to the assets and liabilities contributed to the joint venture the company entered into during the three months ended January 31, 2025.
(5) Reflects the reclassification of 22 homes and $14.4 million of contract backlog and 46 homes and $30.7 million of contract backlog as of October 31, 2025 from unconsolidated joint ventures to the consolidated Northeast and Southeast segments, respectively. This is related to the consolidation of the remaining assets and liabilities acquired from an unconsolidated joint venture the Company closed out and two active selling communities from another unconsolidated joint venture that were consolidated during the three months ended October 31, 2025.
(6) Represents home deliveries, home revenues and average prices for our unconsolidated homebuilding joint ventures for the period. We provide this data as a supplement to our consolidated results as an indicator of the volume managed in our unconsolidated homebuilding joint ventures. Our proportionate share of the income or loss of unconsolidated homebuilding and land development joint ventures is reflected as a separate line item in our consolidated financial statements under “Income from unconsolidated joint ventures”. HOVNANIAN ENTERPRISES, INC.(DOLLARS IN THOUSANDS EXCEPT AVG. PRICE)(SEGMENT DATA UNCONSOLIDATED JOINT VENTURES ONLY)   Contracts (1)DeliveriesContract  Three Months EndedThree Months EndedBacklog  October 31,October 31,October 31,  20252024% Change20252024% Change20252024% ChangeNortheast (2)                (Unconsolidated Joint Ventures)Home 147 12022.5%  188 76147.4%  227 274(17.2)% (Excluding KSA JV)Dollars$104,335$83,85624.4% $118,858$57,427107.0% $163,213$212,370(23.1)% (DE, MD, NJ, OH, PA, VA, WV)Avg. Price$709,762$698,8001.6% $632,223$755,618(16.3)% $719,000$775,073(7.2)% Southeast (2)                (Unconsolidated Joint Ventures)Home 60 77(22.1)%  67 125(46.4)%  29 118(75.4)% (FL, GA, SC)Dollars$37,000$47,829(22.6)% $46,741$68,650(31.9)% $22,972$80,492(71.5)%  Avg. Price$616,667$621,156(0.7)% $697,627$549,20027.0% $792,138$682,13616.1% West                (Unconsolidated Joint Ventures)Home 34 1978.9%  30 34(11.8)%  19 1172.7% (AZ, CA, TX)Dollars$16,608$8,40597.6% $14,767$15,621(5.5)% $10,448$5,040107.3%  Avg. Price$488,471$442,36810.4% $492,233$459,4417.1% $549,895$458,18220.0% Unconsolidated Joint Ventures (2) (3)                (Excluding KSA JV)Home 241 21611.6%  285 23521.3%  275 403(31.8)%  Dollars$157,943$140,09012.7% $180,366$141,69827.3% $196,633$297,902(34.0)%  Avg. Price$655,365$648,5651.0% $632,863$602,9705.0% $715,029$739,211(3.3)%  KSA JV Only                 Home 116 6870.6%  - 3(100.0)%  723 276162.0%  Dollars$27,469$17,34158.4% $-$429(100.0)% $175,777$64,360173.1%  Avg. Price$236,802$255,015(7.1)% $-$143,000(100.0)% $243,122$233,1884.3%  DELIVERIES INCLUDE EXTRASNotes:(1) Contracts are defined as new contracts signed during the period for the purchase of homes, less cancellations of prior contracts.(2) Reflects the reclassification of 22 homes and $14.4 million of contract backlog and 46 homes and $30.7 million of contract backlog as of October 31, 2025 from unconsolidated joint ventures to the consolidated Northeast and Southeast segments, respectively. This is related to the consolidation of the remaining assets and liabilities acquired from an unconsolidated joint venture the Company closed out and two active selling communities from another unconsolidated joint venture that were consolidated during the three months ended October 31, 2025.
(3) Represents home deliveries, home revenues and average prices for our unconsolidated homebuilding joint ventures for the period. We provide this data as a supplement to our consolidated results as an indicator of the volume managed in our unconsolidated homebuilding joint ventures. Our proportionate share of the income or loss of unconsolidated homebuilding and land development joint ventures is reflected as a separate line item in our consolidated financial statements under “Income from unconsolidated joint ventures”. HOVNANIAN ENTERPRISES, INC.(DOLLARS IN THOUSANDS EXCEPT AVG. PRICE)(SEGMENT DATA UNCONSOLIDATED JOINT VENTURES ONLY)   Contracts (1)DeliveriesContract  Years EndedYears EndedBacklog  October 31,October 31,October 31,  20252024% Change20252024% Change20252024% ChangeNortheast (2) (3) (5)                (Unconsolidated Joint Ventures)Home 533 47312.7%  558 35756.3%  227 274(17.2)% (Excluding KSA JV)Dollars$354,749$361,468(1.9)% $389,471$266,56646.1% $163,213$212,370(23.1)% (DE, MD, NJ, OH, PA, VA, WV)Avg. Price$665,570$764,203(12.9)% $697,977$746,683(6.5)% $719,000$775,073(7.2)% Southeast (2) (5)                (Unconsolidated Joint Ventures)Home 254 257(1.2)%  297 340(12.6)%  29 118(75.4)% (FL, GA, SC)Dollars$164,762$156,2345.5% $191,533$209,504(8.6)% $22,972$80,492(71.5)%  Avg. Price$648,669$607,9146.7% $644,892$616,1884.7% $792,138$682,13616.1% West (4)                (Unconsolidated Joint Ventures)Home 85 91(6.6)%  79 106(25.5)%  19 1172.7% (AZ, CA, TX)Dollars$44,748$43,3613.2% $40,604$52,542(22.7)% $10,448$5,040107.3%  Avg. Price$526,447$476,49510.5% $513,975$495,6793.7% $549,895$458,18220.0% Unconsolidated Joint Ventures                (Excluding KSA JV)Home 872 8216.2%  934 80316.3%  275 403(31.8)% (2) (3) (4) (5) (6)Dollars$564,259$561,0630.6% $621,608$528,61217.6% $196,633$297,902(34.0)%  Avg. Price$647,086$683,390(5.3)% $665,533$658,2961.1% $715,029$739,211(3.3)%  KSA JV Only                 Home 448 27662.3%  1 50(98.0)%  723 276162.0%  Dollars$111,594$66,65167.4% $177$10,416(98.3)% $175,777$64,360173.1%  Avg. Price$249,094$241,4893.1% $177,000$208,320(15.0)% $243,122$233,1884.3%  DELIVERIES INCLUDE EXTRASNotes:(1) Contracts are defined as new contracts signed during the period for the purchase of homes, less cancellations of prior contracts.(2) Reflects the reclassification of 86 homes and $70.1 million of contract backlog and 13 homes and $10.6 million of contract backlog as of April 30, 2024 from the consolidated Northeast and Southeast segments, respectively, to unconsolidated joint ventures. This is related to the assets and liabilities contributed to a joint venture the company entered into during the three months ended April 30, 2024.
(3) Reflects the reclassification of 88 homes and $74.2 million of contract backlog as of July 31, 2024 from the unconsolidated joint ventures to the consolidated Northeast segment. This is related to the assets and liabilities acquired from a joint venture the company closed out during the three months ended July 31, 2024.
(4) Reflects the reclassification of 8 homes and $5.0 million of contract backlog as of January 31, 2025, from the consolidated West segment to unconsolidated joint ventures. This is related to the assets and liabilities contributed to the joint venture the company entered into during the three months ended January 31, 2025.
(5) Reflects the reclassification of 22 homes and $14.4 million of contract backlog and 46 homes and $30.7 million of contract backlog as of October 31, 2025 from unconsolidated joint ventures to the consolidated Northeast and Southeast segments, respectively. This is related to the consolidation of the remaining assets and liabilities acquired from an unconsolidated joint venture the Company closed out and two active selling communities from another unconsolidated joint venture that were consolidated during the three months ended October 31, 2025.
(6) Represents home deliveries, home revenues and average prices for our unconsolidated homebuilding joint ventures for the period. We provide this data as a supplement to our consolidated results as an indicator of the volume managed in our unconsolidated homebuilding joint ventures. Our proportionate share of the income or loss of unconsolidated homebuilding and land development joint ventures is reflected as a separate line item in our consolidated financial statements under “Income from unconsolidated joint ventures”.    Contact:Brad G. O’ConnorJeffrey T. O’Keefe Chief Financial OfficerVice President, Investor Relations 732-747-7800732-747-7800   

NEW YORK, NY / ACCESS Newswire / December 4, 2025 / Nixxy, Inc. (NASDAQ:NIXX) (member, Russell 3000E) ("Nixxy" or the "Company") today announces the appointment of Julia Yu as Chief Financial Officer, effective immediately. This marks an important and highly positive step for the Company as it prepares for the next phase of scale and anticipated growth heading into 2026. The Company also noted that the prior CFO consulting arrangement with Adam Yang concluded in accordance with its terms and thanks Mr. Yang for his leadership over the past year.

"Julia's appointment comes at exactly the right time for Nixxy," said Mike Schmidt, CEO of Nixxy, Inc. "We are entering a period of rapid, and we believe potentially explosive, growth as we expand our AI-native communications and data infrastructure platform. Julia brings the experience and discipline to help us scale intelligently, building the systems, controls, and financial efficiencies needed to support larger transactions, manage complexity, and drive long-term value creation for our shareholders."

Ms. Yu is a highly accomplished global finance executive with more than two decades of leadership experience across public companies and high-growth technology enterprises. Her background spans SEC reporting, IPO/SPAC readiness, public-company compliance, audit oversight, capital markets, M&A, and enterprise-wide financial transformation - skills that are directly aligned with Nixxy's strategy as it grows into 2026 and beyond.

She has previously served as CFO and Executive Board Director for public companies and technology firms, leading organizations through complex regulatory environments, scaling financial systems, and overseeing major strategic and operational initiatives. Earlier in her career, Ms. Yu held senior finance roles at ExxonMobil and Unilever, where she developed deep operational and global experience across enterprise functions.

Ms. Yu has partnered with global innovators including AWS, Stripe, NVIDIA, IBM, and Visa, supporting transformative initiatives in intelligent automation, payments modernization, cross-border infrastructure, enterprise AI adoption, and real-time financial platforms. She is recognized for enabling scalable growth, strengthening financial discipline, and aligning execution with long-term value creation, all of which Nixxy expects will be critical as the Company manages a larger, more complex business.

Her thought leadership has been featured in Fortune, and she mentors founders through Techstars and Startupbootcamp. Ms. Yu holds CPA, MBA, CIA, and CGMA designations and is a Six Sigma Black Belt.

With this appointment, Nixxy believes it is adding a key strategic leader to help navigate its next stage of growth, support increasing transaction volume, and reinforce the financial foundation needed to execute on its 2026 scaling plans.

About Nixxy, Inc. (NASDAQ: NIXX) a technology company at the forefront of AI-powered business services, powering the next generation of intelligent services. Anchored by its proprietary AI Infrastructure platform, Nixxy provides scalable, secure, and LLM-agnostic infrastructure for deploying private AI at scale. From global voice and messaging to AI-enhanced diagnostics, Nixxy delivers solutions where infrastructure, intelligence, and monetizable data converge. With a strategy focused on platform extensibility, data monetization, and data access models, Nixxy is building the foundation for the future of enterprise AI deployment and private data economy.

Filings and press releases can be found at http://www.nixxy.com/investor-relations.

Contact Information
Investor Contact: Nixxy, Inc.
Investor Relations Email: [email protected]
Phone: (877) 708-8868

Forward-Looking Statements Disclaimer

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking statements, including those regarding the Company's business strategy, future operations, acquisition strategy, financial position, potential growth, spin-out transactions, and market opportunities. Words such as 'anticipates,' 'believes,' 'expects,' 'intends,' 'plans,' and 'will,' or similar expressions, are intended to identify forward-looking statements. These statements are based on the Company's current expectations and beliefs and involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements. The Company disclaims any obligation to update or revise forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

No Offer or Solicitation Disclaimer
This communication is for informational purposes only and is not intended to and does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

Risk Factors

Investors should carefully consider the risks associated with the Company's business, including but not limited to: the ability to successfully execute acquisitions and integrate acquired companies; the impact of technological changes on the Company's operations; and other risks detailed in the Company's filings with the Securities and Exchange Commission, including those risk factors contained in the Company's Form 10-K for the year ended December 31, 2024.

SOURCE: Nixxy, Inc.

Key Takeaways Investors eye a December rate cut as stabilizing data lift sentiment and boost picks like CCL.Positive economic reports and shrinking payrolls fuel expectations for further Fed easing.Earnings estimates for CCL, FUBO, RL and ROKU have risen over 60 days, signaling potential upside.
Signs of the economy becoming stable have lifted investors’ sentiment, leading to a rebound in stocks over the last two sessions. Concerns over the economy’s health and uncertainty over a rate cut by the Federal Reserve in December saw volatility return to Wall Street in November.

However, positive economic data have reinstated investors’ faith in the economy and raised hopes of another rate cut by the Fed in its December policy meeting.

Given this situation, it would be ideal to invest in consumer stocks that are likely to get a further boost during the holiday season. We have selected four stocks, namely, Carnival Corporation & plc (CCL - Free Report) , fuboTV Inc. (FUBO - Free Report) , Ralph Lauren Corporation (RL - Free Report) and Roku, Inc. (ROKU - Free Report) , for investors.

These stocks have seen positive earnings estimate revisions in the past 60 days, carry a Zacks Rank #2 (Buy), and are set for solid returns. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Rate Cut Hopes RiseHigh inflation had already been worrying investors, and a shrinking labor market over the past several months further raised concerns about a slowing economy that could eventually slip into a recession. However, some positive economic data over the past week have lifted investor confidence lately.

Wall Street rallied on Wednesday for the second straight day as investors regained faith in artificial intelligence stocks and a better-than-expected jobs data raised hopes of a December rate cut.  Payroll processor ADP’s report showed that private payrolls unexpectedly declined in November, with just 32,000 job additions, lower than the consensus estimate of 40,000.

Investors treated bad news as good news and started betting that a shrinking job market would lead the Federal Reserve to go ahead with another interest rate cut in December.  The Federal Reserve last cut interest rates by 25 basis points in October, saying that the move was to support a slowing jobs market despite inflation remaining above its 2% target.

Investors believe that the same reason will lead the Fed to another rate cut in December. Markets are now pricing in an 89.2% chance of a quarter percentage point rate cut by the Fed in its December FOMC meeting, according to the CME FedWatch Tool.

Also, inflation increased at a slower pace in September. The producer price index (PPI) showed that wholesale prices increased 0.3% sequentially in September. Core PPI, which excludes the volatile food and energy prices, rose 0.1% month over month in September, lower than the consensus estimate of a rise of 0.2%. This could give the Fed further confidence in going for a rate cut.

4 Consumer Discretionary Stocks With UpsideCarnival Corporation & plcCarnival Corporation & plc operates as a cruise and vacation company. As a single economic entity, CCL forms the largest cruise operator in the world. Carnival Corporation & plcis the world’s leading leisure travel firm and carries nearly half of the global cruise guests.

Carnival Corporation’s expected earnings growth rate for the current year is 52.8%. The Zacks Consensus Estimate for current-year earnings improved 1.4% over the last 60 days. CCL currently carries a Zacks Rank #2.

fuboTVfuboTV Inc. offers a sports-first live TV streaming platform as well as news and entertainment content. fuboTV is based in New York.

fuboTV’s expected earnings growth rate for the current year is more than 100%. The Zacks Consensus Estimate for current-year earnings has improved more than 100% over the past 60 days. FUBO currently carries a Zacks Rank #2.

Ralph Lauren CorporationRalph Lauren Corporation is a major designer, marketer and distributor of premium lifestyle products in North America, Europe, Asia and internationally. RL offers products in apparel, footwear, accessories, home furnishings, and other licensed product categories.

Ralph Lauren’s expected earnings growth rate for the current year is 25%. The Zacks Consensus Estimate for the current-year earnings has improved 3% over the past 60 days. RL has a Zacks Rank #2.

Roku, Inc. Roku, Inc. is the leading TV streaming platform provider in the United States, Canada and Mexico based on hours streamed.

Roku’s expected earnings growth rate for the current year is more than 100%. The Zacks Consensus Estimate for the current-year earnings has improved 83.3% over the past 60 days. ROKU has a Zacks Rank #2.

This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

At 24/7 Wall St., we have closely followed dividend-paying stocks for over 15 years. With a growing audience of savvy Baby Boomers and retirees seeking safe income ideas that deliver more than the 10-year Treasury bond’s 4% bi-annual dividend, we have screened hundreds of stocks, looking for recurring, dependable dividend payouts and a degree of safety that allows for a good night’s sleep. One group of stocks that we have always recommended is the Dividend Aristocrats. For dividend safety and reliability, they are among the best ideas for growth and income investors.

Investors seeking defensive companies that pay substantial dividends are drawn to the Dividend Aristocrats, and with good reason. The 66 companies that made the cut for the 2025 S&P 500 Dividend Aristocrats list have increased their dividends (not just maintained them) for 25 consecutive years. But the requirements go even further, with the following attributes also mandatory for membership on the aristocrats list:

Companies must be worth at least $3 billion for each quarterly rebalancing.
Average daily volume of at least $5 million transactions for every trailing three-month period at every quarterly rebalancing date.
They must be members of the S&P 500.

We screened the Dividend Aristocrats list for the five highest-yielding companies, and all five look like outstanding ideas for growth and income investors seeking dependable, growing dividends. All have a Buy rating at the top Wall Street firms we cover.

Why do we cover the Dividend Aristocrats?

S&P 500 companies that have paid and raised their dividends for 25 years or longer are the types that growth and income investors want to buy and hold in their stock portfolios for the long term. These stocks are mostly conservative, and should we see a dramatic market correction, they will likely keep their ground much better than volatile technology names.

Amcor
This company is an excellent idea as its products are always in demand and pays a 6.03% dividend. Amcor PLC (NYSE: AMCR) provides packaging solutions for consumer and healthcare products. The company develops sustainable packaging in flexible and rigid formats across multiple materials and operates through two segments.

The Flexibles segment consists of operations that manufacture flexible and film packaging in the food and beverage, medical and pharmaceutical, fresh produce, snack food, personal care, and other industries.

The Rigid Packaging segment consists of operations that manufacture rigid containers for a broad range of predominantly beverage and food products, including:

Carbonated soft drinks
Water
Juices
Sports drinks
Milk-based beverages
Spirits and wine
Sauces
Dressings
Spreads and personal care items
Plastic caps for a wide variety of applications

The company’s subsidiaries include Amcor Flexibles North America, Amcor UK Finance, and Amcor Finance (USA).

Morgan Stanley has an Overweight rating with a $11.50 target price.

Franklin Resources
Franklin Resources Inc. (NYSE: BEN) is among the most prominent global money managers. The firm markets mutual funds and institutional separate accounts under the Franklin, Templeton, and Mutual Series brands and pays a solid 5.81% dividend. At times, 50% of its sales are from outside the United States, an advantage given the maturing U.S. market.

Franklin Resources offers its products and services under the brands of:

Franklin
Templeton
Franklin Mutual Series
Franklin Bissett
Fiduciary Trust
Darby
Balanced Equity Management
K2
LibertyShares
Edinburgh Partners

The 2023 to 2025 bull market has been a strong tailwind for the company; however, the recent sell-off has made the shares appear incredibly cheap. While withdrawals from baby boomers may be a concern, the path forward in 2026 also appears solid, as the shares have rebounded from their April lows.

Goldman Sachs has a Buy rating with a $29 target price.

Realty Income
Realty Income Corp. (NYSE: O) is a real estate investment trust that invests in free-standing, single-tenant commercial properties. This is an ideal stock for growth and income investors seeking a safer, contrarian investment for the remainder of 2025, with a 5.66% monthly dividend. Realty Income is an S&P 500 company that provides stockholders with dependable monthly income.

The company acquires and manages freestanding commercial properties that generate rental income under long-term net-lease agreements with its commercial clients.

It is engaged in a single business activity: leasing property to clients, generally on a net basis. This business activity spans various geographic boundaries and encompasses a range of property types and clients across multiple industries.

The company owns or holds interests in approximately 15,621 properties in:

All 50 United States
The United Kingdom
France
Germany
Ireland
Italy
Portugal
Spain

With clients doing business in 89 industries, its property types include retail, industrial, gaming, and other sectors, such as agriculture and office.

Its primary industry concentrations include:

Grocery stores
Convenience stores
Dollar stores
Drug stores
Home improvement stores
Restaurants
Quick service

UBS has a Buy rating with a $66 price objective.

Target
Target Corp. (NYSE: TGT) is an American retail corporation with a chain of discount department stores and hypermarkets. This company remains a solid and safe retail total return play, and after a rough 2025, down almost 24%, it is a stellar buy, trading at 14 times forward earnings with a strong 5.20% dividend yield.

Target is a general merchandise retailer in the United States that offers apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as jewelry, accessories, and shoes. The company also offers a range of beauty and personal care products, baby gear, cleaning supplies, paper products, and pet care products. It also provides:

Dry grocery, dairy, frozen food, beverages, candy, snacks, deli, bakery, meat, and food service
Electronics, which includes video game hardware and software
Toys, entertainment, sporting goods, and luggage
Furniture, lighting, storage, kitchenware, small appliances, home décor, bed, and bath
Home improvement
School/office supplies
Greeting cards, party supplies, and other seasonal merchandise

In addition, the company sells merchandise through periodic design and creative partnerships, shop-in-shop experiences, and in-store amenities. It also sells its products through its stores and digital channels, including Target.com.

The company suffered a “Bud Light” moment a few years back after a disastrous merchandising campaign for LGBTQ products, which struck a nerve among many shoppers. While not as severe as the beer giants’ conundrum, it was a significant negative that has seemingly subsided.

Evercore ISI has assigned a Positive rating and a $100 target price.

Hormel Foods
This American food processing company was founded in 1891 in Austin, Minnesota. With a very reliable dividend and many well-known products, Hormel Foods Corp. (NYSE: HRL) is a very safe investment now, offering a 5.02% dividend yield. The company develops, processes, and distributes various meat, nuts, and other food products to retail, food service, deli, and commercial customers in the United States and internationally.

It operates through three segments:

Retail
Food Service
International

Hormel is a Dividend King with over 50 years of dividend increases and is a consumer staples company focused on protein-based packaged foods. Its yield is historically high, and the Hormel Foundation’s oversight ensures dividend reliability. Reports indicate that it is restructuring its portfolio and cutting costs to improve performance.

The company provides various perishable products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacon, and shelf-stable products, including canned luncheon meats, nut butter, snack nuts, chili, shelf-stable microwaveable meals, hash, stews, tortillas, salsas, tortilla chips, nutritional food supplements, and others.

It sells its products under these brands:

Hormel
Always Tender
Applegate
Austin Blues
Bacon 1
Black Label
Bread Ready
Burke
Café H
Ceratti
Chi-Chi’s
Columbus
Compleats
Corn Nuts
Cure 81
Dan’s Prize
Di Lusso
Dinty Moore
Don Miguel
Doña Maria
Embasa
Fast N Easy
Fire Braised
Fontanini
Happy Little Plants
Herdez
Hormel Gatherings
Hormel Square Table
Hormel Vital Cuisine
House Of Tsang
Jennie-O
Justin’s
La Victoria
Layout
Lloyd’s
Mary Kitchen
Mr. Peanut
Natural Choice
Nut-Rition
Old Smokehouse
Oven Ready
Pillow Pack
Planters
Rosa Grande
Sadler’s Smokehouse
Skippy
Spam
Special Recipe
Thick & Easy
Valley Fresh
Wholly

J.P. Morgan has an Overweight rating and a $27 target price.

Our December High-Yield 6% Dividend Stocks Have Big Total Return Potential

December 04, 2025 09:30 ET

 | Source:

Nano One Materials Corp.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR THE DISSEMINATION, DISTRIBUTION, RELEASE OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES

VANCOUVER, British Columbia, Dec. 04, 2025 (GLOBE NEWSWIRE) -- Nano One Materials Corp. (TSX: NANO) (“Nano One” or the “Company”) is pleased to announce that it has priced its previously announced “commercially reasonable efforts” overnight marketed underwritten offering (the “Offering”) of units (the “Units”) of the Company.

Pursuant to the Offering, the Company intends to issue 4,650,000 Units at a price of C$1.40 per Unit (the “Offering Price”) for gross proceeds of approximately C$6.51 million. Each Unit shall be comprised of one common share of the Company (a “Unit Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant shall be exercisable into one common share of the Company (a “Warrant Share”) for a period of 24 months from the Closing Date (as herein defined) at an exercise price of C$1.75 per Warrant Share, subject to adjustment in certain events.

The Offering is expected to be completed pursuant to an underwriting agreement (the “Underwriting Agreement”) to be entered into between the Company and Canaccord Genuity Corp. as lead underwriter and sole bookrunner (“Canaccord Genuity” or the “Lead Underwriter”), and a syndicate of underwriters including Roth Canada Inc. and Cormark Securities Inc. (collectively with the Lead Underwriter, the “Underwriters”). The Company has agreed to grant the Underwriters an over-allotment option (the “Over-Allotment Option”) exercisable, in whole or in part, in the sole discretion of the Lead Underwriter, to purchase up to an additional 15% of the number of Units sold in the Offering for up to 30 days from the closing date of the Offering. The Over-Allotment Option is exercisable to acquire Units, Unit Shares and/or Warrants (or any combination thereof) at the discretion of the Lead Underwriter.

The Units will be offered by way of a prospectus supplement (the “Prospectus Supplement”) to the Company’s base shelf prospectus dated April 26, 2024 (the “Base Shelf Prospectus”) to be filed in each of the provinces of Canada, except Quebec, and the Units may be also offered in the United States on a private placement basis pursuant to exemptions from the registration requirements of the United States Securities Act of 1933, as amended (the "1933 Act"), subject to receipt of all necessary regulatory approvals, including the approval of the Toronto Stock Exchange, and in those other jurisdictions outside of Canada and the United States, provided that no prospectus filing or comparable obligation arises in such other jurisdiction.

The net proceeds of the Offering are expected to be used for, business development activities, expansion of the Company’s Candiac facility, working capital and general corporate purposes.

The closing of the Offering is expected to occur on or about December 10, 2025 and will be subject to market and other customary closing conditions (the “Closing Date”).

The Base Shelf Prospectus is available under the Company’s profile on SEDAR+ at www.sedarplus.ca and upon the signing of the Underwriting Agreement, the Prospectus Supplement will be filed and available on SEDAR+ at www.sedarplus.ca. Alternatively, the Prospectus Supplement and accompanying Base Shelf Prospectus may be obtained free of charge and upon request by contacting the Company by email at [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the 1933 Act or under any U.S. state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act, and applicable U.S. state securities laws.

About Nano One Materials Corp.

Nano One is a technology company changing how the world makes cathode active materials for lithium-ion batteries. Applications include stationary energy storage systems (ESS), portable electronics, and electric vehicles (EVs). The Company’s patented One-Pot process reduces costs, is easier-to permit, lowers energy intensity, environmental footprint, and reliance on problematic supply chains. The Company is supporting the drive towards energy security, supply chain resilience, industrial competitiveness and increased performance through process innovation. Production is being piloted and demonstrated in Candiac, Quebec, drawing on the existing plant and decades of commercial lithium-iron phosphate (LFP) manufacturing experience. Strategic collaborations and partnerships with international companies like Sumitomo Metal Mining, Rio Tinto, and Worley are supporting a design-one-build-many licensing growth strategy—delivering cost-competitive, easier-to-permit, and faster-to-market battery materials production solutions worldwide. Nano One has received funding from the Government of Canada, the Government of the United States, the Government of Québec, and the Government of British Columbia. For more information, please visit www.nanoOne.ca.

Company Contact

Paul Guedes

[email protected]

(604) 420-2041

Cautionary Note Regarding Forward-Looking Statements

This press release may contain statements that may be deemed to be "forward-looking statements" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information, including, but not limited to, statements regarding the anticipated terms of the Offering, the anticipated entry into the Underwriting Agreement and the anticipated terms thereof, the exercise of the Over-Allotment Option, the anticipated timing of the closing of the Offering, the anticipated use of the net proceeds of the Offering, the anticipated filing of the Prospectus Supplement and the anticipated offering of Units in the United States or any other jurisdiction pursuant to the Offering. Generally, forward-looking information may be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "proposed", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects Nano One’s current beliefs and is based on information currently available to Nano One and on assumptions we believes are reasonable. These assumptions include, but are not limited to assumptions regarding: the Offering, including, but not limited to the terms of the Offering, the entry into the Underwriting Agreement and the terms thereof, the exercise of the Over-Allotment Option, the timing of the closing of the Offering, the use of the net proceeds of the Offering, the filing of the Prospectus Supplement and the offering of Units in the United States or any other jurisdiction pursuant to the Offering; changes to market conditions; changes to the regulatory climate; and such other factors and risks as disclosed in the Company’s most recent annual information form, management’s discussion and analysis and other documents filed from time to time under the Company’s profile on SEDAR+ at www.sedarplus.ca. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of the Company or its subsidiaries to be materially different from those expressed or implied by such forward-looking information. Such risks and uncertainties may include, but are not limited to: prevailing capital markets conditions, general business, economic, competitive, political and social uncertainties, changes in legislation, and lack of qualified, skilled labor or loss of key individuals. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

MESA, ARIZONA / ACCESS Newswire / December 4, 2025 / Medical Care Technologies Inc. (OTC PINK:MDCE) today announced a strategic acceleration of its core mission in artificial intelligence-driven health and wellness technology. With Infinite Auctions (www.infiniteauctions.com) operating since 2016 and Real Game Used (www.realgameused.com) since 2017, both subsidiaries continue to provide brand strength, domain expertise, and emerging revenue that support MDCE's broader AI vision.

Leveraging the stability of these proven business units, MDCE is now shifting focus back to the parent company to build and launch a catalog of AI-based mobile applications centered on medical pre-screening, nutrition, wellness, and food intelligence - areas with significant global demand.

"Infinite Auctions and Real Game Used as long-term pillars will support our AI ambitions," said Marshall Perkins III, CEO of Medical Care Technologies Inc. "Now we are accelerating into the next phase: scalable applications designed to enhance personal health and everyday decision-making worldwide."

MDCE's first release enters the high-growth food and recipe AI market - a multi-billion-dollar mobile app category that impacts nearly every adult globally. The company sees this product as the foundation for expanding into deeper consumer health improvements through AI.

About Medical Care Technologies Inc.

Medical Care Technologies Inc. (www.medicalcaretechnologies.com, www.mdcestock.com) develops AI-powered technology focused on consumer wellness, nutritional insight, and preventive screening. Supported by its established subsidiaries Infinite Auctions and Real Game Used, the Company is expanding its innovation pipeline to improve health outcomes through accessible artificial intelligence.

Safe Harbor Statement

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those expressed due to risks and uncertainties.

Contact:

Investor Relations
Medical Care Technologies Inc.
[email protected]
Website: www.mdcestock.com

SOURCE: Medical Care Technologies Inc. (OTC Pink:MDCE)

Partner Reed Kathrein Investigating Whether Management Misrepresented Provision Trends and Lending Risk

, /PRNewswire/ -- National shareholder rights law firm Hagens Berman has launched an investigation into potential securities law violations by Klarna Group plc (NYSE: KLAR) following the company's recent Q3 2025 financial results. The disappointing results revealed a staggering increase in the provision for credit losses.  The company has seen a decline of approximately 23.6% from its initial public offering (IPO) price of $40.00 per share on September 9, 2025.

The investigation focuses on whether Klarna misled investors about the risks attendant to its aggressive push into the Fair Financing offering, which drove the massive provision increase and is potentially at odds with the company's prior assurances regarding its lending risk metrics in the Offering Documents.

"A core issue in the IPO setting is transparency with investors. When a company's provision for credit losses spikes 102% year-over-year, it calls into question whether that risk had already materialized by the time of the IPO," said Reed Kathrein, the Hagens Berman partner leading the investigation. "We are specifically focused on the disclosures surrounding the 139% growth in the Fair Financing portfolio and whether management adequately warned investors that this push would negate prior low provision metrics.  The firm urges investors in Klarna who suffered significant losses to contact the firm now to discuss their rights."

Legal Analysis: Provision for Credit Losses Disclosure Gap

Hagens Berman's investigation focuses on whether Klarna failed to properly disclose the significant, adverse impact that its Fair Financing growth would have on its provision for credit losses, rendering prior statements about its low risk profile misleading.

Financial Metric / Event

Disclosure & Specific Figure

Legal Focus

Q3 2025 Provision

Provision for Credit Losses increased by 102% year-over-year.

Whether the Offering Documents misled investors about expected provision trends and lending risk.

Lending Risk Profile

Provision as a percentage of GMV rose to 0.72% (38% higher than the prior 12-month period).

Whether the Offering Documents obscured credit loss risk attached to Gross Merchandise Volume (GMV) growth.

Causation

The increases were "driven by the upfront provisions" required to book the 139% growth in the Fair Financing portfolio.

Whether the Offering Documents failed to properly disclose the direct, adverse impact of aggressive Fair Financing expansion on company financial health.

Next Steps: Contact Partner Reed Kathrein Today

If you invested in Klarna (KLAR) and suffered significant losses, you may have legal options.

Mr. Kathrein and the firm's investor fraud team are actively advising investors who suffered losses following the November 18, 2025, disclosure of the provision increases.

TO SUBMIT YOUR KLAR LOSSES NOW, PLEASE USE THE SECURE FORM BELOW:

Submit Your KLAR Losses Now
Contact: Reed Kathrein at 844-916-0895 or email [email protected]
Visit: https://www.hbsslaw.com/cases/klarna-group-plc-klar-investigation

Whistleblowers: Persons with non-public information regarding Klarna should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].

About Hagens Berman
Hagens Berman is a global plaintiffs' rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman's team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw. 

SOURCE Hagens Berman Sobol Shapiro LLP

Also from this source

Key Takeaways ONDS ended Q3 with strong liquidity, including $840.4M in pro forma cash.Cash supports expansion in autonomous systems and fuels multiple recent acquisitions.OAS revenues jumped to $10M with a $22.2M backlog, signaling sustained demand momentum.
Ondas Holdings ((ONDS - Free Report) ) closed the third quarter of 2025 with a robust balance sheet. As of Sept. 30, 2025, Ondas had $433.4 million in cash, cash equivalents and restricted cash, and has raised $855 million since June to support its aggressive expansion plans. After adjusting for $407 million in net proceeds from an Oct. 7 equity raise and cash used for operations and M&A, ONDS’ pro forma cash balance reached $840.4 million, with stockholders' equity rising to $894 million.

This level of cash pile is nearly unmatched for a company of Ondas’ size and positions it strongly as it expands the defense and autonomous systems operations. The autonomous and unmanned systems, defense and security markets, according to management, are now at an “inflection point,” shifting from technology development to widespread platform adoption. Management noted that access to “low-cost capital” allows ONDS to “move decisively, scale efficiently and lead confidently” across these fast-growing verticals.

ONDS is deploying significant funds to boost the performance of the Ondas Autonomous Systems (“OAS”) unit, its fastest-growing business unit, which delivered $10 million of revenues in the third quarter, up from just $1 million in the year-ago quarter. The OAS had a backlog of $22.2 million at the end of the third quarter, driven by strong demand trends for Optimus and Iron Drone systems. Consolidated backlog stood at $23.3 million, and it reached $40 million, including acquisitions. ONDS noted that the customer pipeline remains strong and expects to end 2025 with further backlog expansion.

With ample cash, ONDS has resorted to aggressive M&A that expands its multi-domain capabilities like unmanned ground systems, robotics and fiber optic communications, subsurface intelligence and demining robotics. In the past few months, it has acquired Sentrycs, Apeiro Motion, Zickel, among others and recently announced an agreement to buy Roboteam, which specializes in multi-mission tactical ground robotics.

Image Source: Zacks Investment Research

Another major initiative funded through this capital is Ondas Capital, launched in September. This new business division is solely focused on boosting the deployment of unmanned/autonomous systems to Allied defense and security markets.

However, challenges remain. Increasingly crowded drone space and ballooning operating expenses as it builds leadership teams and infrastructure to support growth pose concerns for ONDS. The challenge ahead will be converting this financial strength into operational performance and profitability expansion.

Financial Resources for Other Drone CompaniesDraganfly ((DPRO - Free Report) ) is a Canada-based drone solutions and systems developer. It has 5-plus drone systems that are all NDAA-compliant. As the United States and NATO aggressively eliminate non-compliant Chinese systems from critical infrastructure, this compliance advantage becomes a moat. The company’s cash balance at the end of the third quarter of 2025 was C$69.9 million with minimal debt. Total assets also jumped to C$77 million due to higher cash.

On the earnings call, management noted that it was “burning about $1.5 million a month” and there was no “acute” requirement to raise cash. It is focused on acquisitions, but not necessarily around technology/products, but more focused on the people, added DPRO.

Unusual Machines ((UMAC - Free Report) ) is well-positioned within the evolving drone industry through its focus on manufacturing and selling (through B2B sales and a curated retail channel) small drones and essential components. The FPV segment is UMAC’s core operational area within the drone industry. At the end of the third quarter of 2025, UMAC had a cash balance of $64.3 million, which included a $48.5 million equity raise in July. It again raised an additional $72 million in gross proceeds from the ATM at $15.46/share and cash in hand swelled to $130 million.

UMAC held $16.8 million in short-term investments as of Sept. 30. Management noted that though the company had a profitable quarter, it was not cash flow positive. UMAC targets to sustain positive cash flow, and expects $30 million in annual revenues to reach there, which it expects in the latter half of 2026.

ONDS Price Performance, Valuation and EstimatesShares of ONDS have jumped 55.4% in the past three months against the Communication-Network software industry’s decline of 8.4%.

Image Source: Zacks Investment Research

In terms of the forward 12-month price/sales ratio, ONDS’ shares are trading at 29.26X, higher than the industry’s 2.04X.

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for ONDS earnings for 2025 has been revised 9.4% upwards over the past 60 days.

Image Source: Zacks Investment Research

ONDS currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Rivian’s new R2 SUV could be the catalyst to drive Rivian stock higher.

Getty Images for It's Good x Rivian

Recall Tesla (NASDAQ:TSLA) before the Model 3 and Model Y? It was a high-end, relatively niche brand. The Model S and X, priced over $80,000, couldn't achieve the necessary scale. Then, the revolutionary Model 3 arrived, lowering the price point, unlocking significant volume, and launching Tesla into becoming the dominant force in the EV market.

Now, let’s introduce Rivian (NASDAQ:RIVN). The company is at a critical threshold, similar to where Tesla found itself. Although its R1T pickup and R1S SUV have received high praise for their quality and utility, they belong to a high-price niche. The enormous uncertainty—and potential opportunity—hinges on one model: Can the forthcoming $45,000 R2 mass-market SUV effectively follow the ‘Tesla Playbook’ and possibly double the company’s value?

Is owning RIVN stock precarious? Certainly. High Quality Portfolio helps reduce that risk.

The Tesla Playbook: Scaling To ThriveRivian’s offerings have been well-received, and the company has effectively figured out the blueprint for the EV pickup—an area where Tesla’s Cybertruck has so far generated more excitement than actual success. The long-term positive scenario relies on Rivian's capacity to grow beyond its niche premium vehicles and broaden its market reach. Currently, Rivian markets vehicles that retail for $70,000 and above.That represents a minuscule market.

The Model 3/Y Parallel: Prior to the Model 3, Tesla appeared as a luxury item for the affluent with the X and S models. The Model 3 reduced the cost to around $40k, enabling Tesla to sell millions rather than just thousands of vehicles.Rivian’s Pivot: The R2 is aiming for a $45,000 starting price. This transition shifts Rivian from competing with Range Rovers to competing with the Toyota RAV4, Honda CR-V, and Tesla Model Y—the largest vehicle category in the world.Survival: Rivian cannot continue existing solely by selling pricey trucks. They require the considerable revenue generated by the R2 to cover their fixed costs (such as factories and R&D).Rivian Has An Edge Over The Model The Tesla Model Y is presently the best-selling vehicle globally, yet it has drawbacks: including its “jelly bean” design and off-road performance.Differentiation: The R2 is being designed as the “Rugged Alternative.” It has a boxy, sturdy appearance, reminiscent of a traditional SUV (think mini-Land Rover)Smarter Manufacturing: Avoiding “Production Hell”This is the area of risk. Tesla nearly faced bankruptcy while attempting to manufacture the Model 3 due to over-automating too swiftly. Rivian seems to be learning from some of Tesla's errors.

Simpler Design: The R1 (the current truck) is over-engineered and costly to produce. The R2 adopts “Zonal Architecture,” which significantly diminishes wiring and the need for computer chips, thereby making the vehicle cheaper and quicker to assemble.Structural Battery: The battery pack is the vehicle's floor. This innovation reduces components and weight, a strategy Tesla was the first to implement to cut costs. These fundamental technological advancements render the vehicle lighter, less expensive to manufacture, and more easily updated via software.The Factory Strategy: Rivian initially intended to construct a large new factory in Georgia for the R2. To conserve cash (and mitigate risk), they have halted plans for Georgia and opted to commence R2 production in their existing Illinois facility.This cautious decision saves them $2.25 billion right away.The Path To A 2x Stock UpsideMass-Market Revenue Scale: Though short-term growth may be slower (with a consensus of 8% for FY’25), the introduction of the R2 platform is anticipated to awaken sales. Consensus forecasts a sales growth of approximately 28% in the upcoming year. If growth reaches 35% annually after 2026, revenue could ascend to approximately $13 billion by 2028.Margins Improvement: By leveraging the partnership with Volkswagen to cut costs, Rivian is aiming for a Bill of Materials (BOM) of only $32,000 per R2 vehicle. This, in conjunction with overhead reductions, is pivotal for achieving healthier gross margins. By 2028, enhanced factory utilization and improved fixed-cost absorption might elevate adjusted net margins to 10%. On $13 billion in revenue, this would result in $1.3 billion in Net Income (comparable to Tesla's profitability profile during its consolidation period).The Valuation Multiple: Even applying a conservative 30x P/E multiple (a small fraction of Tesla’s approximately 260x), the $1.3 billion in earnings would suggest a $40 billion market cap. This valuation implies around a 2x upside from current levels.The Trefis High Quality (HQ) Portfolio, featuring a selection of 30 stocks, has a history of consistently outperforming its benchmark, which encompasses all three indices: the S&P 500, S&P mid-cap, and Russell 2000. What accounts for this? As a collective, HQ Portfolio stocks have delivered superior returns with lower risk compared to the benchmark index, providing a smoother experience, as illustrated in HQ Portfolio performance metrics.

ATHENS, Greece, Dec. 04, 2025 (GLOBE NEWSWIRE) -- Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Stone Shipping Ltd, for one of its Ultramax dry bulk vessels, the m/v DSI Pollux. The gross charter rate is US$14,750, minus a 5.00% commission paid to third parties, for a period until minimum January 1, 2027 up to maximum February 28, 2027. The charter is expected to commence on December 8, 2025. The m/v DSI Pollux is currently chartered to Bunge SA, Geneva, at a gross charter rate of US$14,000 per day, minus a 5.00% commission paid to third parties.

The “DSI Pollux” is a 60,446 dwt Ultramax bulk vessel built in 2015.

The Company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Western Bulk Carriers AS, for one of its Ultramax dry bulk vessels, the m/v DSI Andromeda. The gross charter rate is US$14,600, minus a 5.00% commission paid to third parties, for a period until minimum April 1, 2027 up to maximum May 31, 2027. The charter is expected to commence on December 7, 2025. The m/v DSI Andromeda was chartered, as previously announced, to Cargill Ocean Transportation (Singapore) Pte. Ltd., at a gross charter rate of US$14,000 per day, minus a 4.75% commission paid to third parties.

The “DSI Andromeda” is a 60,309 dwt Ultramax bulk vessel built in 2016.

The employments of “DSI Pollux” and “DSI Andromeda” are anticipated to generate a total of approximately US$12.60 million of gross revenue for the minimum scheduled period of the time charters.

Diana Shipping Inc.’s fleet currently consists of 36 dry bulk vessels (4 Newcastlemax, 8 Capesize, 4 Post-Panamax, 6 Kamsarmax, 5 Panamax and 9 Ultramax). The Company also expects to take delivery of two methanol dual fuel new-building Kamsarmax dry bulk vessels by the second half of 2027 and the first half of 2028, respectively. As of today, the combined carrying capacity of the Company’s fleet, excluding the two vessels not yet delivered, is approximately 4.1 million dwt, with a weighted average age of 12.03 years. A table describing the current Diana Shipping Inc. fleet can be found on the Company’s website, www.dianashippinginc.com. Information contained on the Company’s website does not constitute part of this press release.

About the Company

Diana Shipping Inc. is a global provider of shipping transportation services through its ownership and bareboat charter-in of dry bulk vessels. The Company’s vessels are employed primarily on short to medium-term time charters and transport a range of dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes.

Cautionary Statement Regarding Forward-Looking Statements

Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts.

The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “believe,” “anticipate,” “intends,” “estimate,” “forecast,” “project,” “plan,” “potential,” “may,” “should,” “expect,” “pending” and similar expressions identify forward-looking statements.

The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, Company management’s examination of historical operating trends, data contained in the Company’s records and other data available from third parties. Although the Company believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies that are difficult or impossible to predict and are beyond the Company’s control, the Company cannot assure you that it will achieve or accomplish these expectations, beliefs or projections.

In addition to these important factors, other important factors that, in the Company’s view, could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for dry bulk shipping capacity, changes in the Company’s operating expenses, including bunker prices, drydocking and insurance costs, the market for the Company’s vessels, availability of financing and refinancing, changes in governmental rules and regulations or actions taken by regulatory authorities, tariff policies and other trade restrictions, potential liability from pending or future litigation, general domestic and international political conditions, including risks associated with the continuing conflict between Russia and Ukraine and related sanctions, potential disruption of shipping routes due to accidents or political events, including the escalation of the conflict in the Middle East, vessel breakdowns and instances of off-hires and other factors. Please see the Company’s filings with the U.S. Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties. The Company undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

Corporate Contact:
Ioannis Zafirakis 
Director, Co-Chief Financial Officer, 
Chief Strategy Officer, 
Treasurer and Secretary 
Telephone: + 30-210-9470-100 
Email:

[email protected] Website:

www.dianashippinginc.com X: @Dianaship

                                 Investor Relations/Media Contact:
Nicolas Bornozis / Daniela Guerrero 
Capital Link, Inc. 
230 Park Avenue, Suite 1540 
New York, N.Y. 10169 
Tel.: (212) 661-7566 
Email:

[email protected]

About Angela Harmantas
Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government. She earned a Bachelor of... Read more

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December 04, 2025 9:25 AM EST | Source: Cosa Resources Corp.
Vancouver, British Columbia--(Newsfile Corp. - December 4, 2025) - Cosa Resources Corp. (TSXV: COSA) (OTCQB: COSAF) (FSE: SSKU) ("Cosa" or the "Company") is pleased to announce that it has closed the brokered private placement previously announced by the Company on November 13, 2025, as upsized on November 14, 2025, for aggregate gross proceeds to the Company of C$7,500,000.74 (the "Offering"). The Offering was completed through a syndicate of agents, led by Haywood Securities Inc. and including Velocity Capital Partners and CIBC Capital Markets (collectively, the "Agents").

Cosa's largest shareholder, Denison Mines Corp. (TSX: DML) (NYSE American: DNN) ("Denison"), participated in the Offering pursuant to its rights under the investor rights agreement between Denison and the Company dated January 14, 2025 (the "Investor Rights Agreement"). With closing of the Offering, Denison now owns 18.59% of Cosa on a partially-diluted basis. Denison is a leading Athabasca Basin-focused uranium mining, development, and exploration company with a market capitalization of approximately C$3 billion. Denison's current focus is advancing the development-stage Wheeler River project, which represents one of the largest undeveloped uranium mining projects in the infrastructure rich eastern portion of the Athabasca Basin.

Pursuant to the Offering, the Company issued: (i) 11,538,462 hard dollar units of the Company (the "Units") at a price of C$0.26 per Unit (the "Unit Issue Price"); (ii) 7,537,690 charity flow-through units of the Company (the "Charity FT Units") at a price of C$0.398 per Charity FT Unit; and (iii) 5,000,000 flow-through common shares of the Company (the "FT Shares", and together with the Units and Charity FT Units, the "Offered Securities") at a price of C$0.30 per FT Share.

Each FT Share qualifies as a "flow-through share" within the meaning of the Income Tax Act (Canada) and will qualify as an "eligible flow-through share" as defined in The Mineral Exploration Tax Credit Regulations, 2014 (Saskatchewan). Each Unit consists of one common share of the Company (a "Unit Share") plus one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Charity FT Unit consists of one FT Share plus one-half of one Warrant. Each Warrant entitles the holder thereof to purchase one common share of the Company (a "Warrant Share") at an exercise price of C$0.37 until December 4, 2027.

The Company will use the net proceeds from the sale of Units to fund exploration and for additional working capital purposes. The gross proceeds from the sale of Charity FT Units and FT Shares will be used by the Company to incur eligible "Canadian exploration expenses" that qualify as "flow-through critical mineral mining expenditures" as such terms are defined in the Income Tax Act (Canada), and to incur "eligible flow-through mining expenditures" pursuant to The Mineral Exploration Tax Credit Regulations, 2014 (Saskatchewan) (collectively, the "Qualifying Expenditures") related to the Company's uranium projects in the Athabasca Basin, Saskatchewan, on or before December 31, 2026. All Qualifying Expenditures will be renounced in favour of the subscribers of the Charity FT Units and FT Shares effective December 31, 2025.

In consideration for the services provided by the Agents in connection with the Offering, on closing the Company: (i) paid to the Agents a cash commission equal to 5.0% of the gross proceeds of the Offering, other than in respect of Offered Securities issued to certain purchasers on a president's list agreed upon by the Company and the Agents (the "President's List"), in which case the commission in respect of such issuance was equal to 3.0%; and (ii) issued compensation options of the Company (the "Compensation Options") to the Agents to acquire that number of common shares in the capital of the Company (each a "Compensation Option Share") which is equal to 6.0% of the number of Offered Securities sold under the Offering, other than in respect of Offered Securities issued to purchasers on the President's List, in which case the Company did not issue any Compensation Options. Each Compensation Option entitles the holder to acquire one Compensation Option Share until December 4, 2027, at an exercise price of C$0.26.

The Offered Securities are subject to a hold period expiring on April 5, 2026.

Certain directors and officers of the Company, Denison, and certain officers of Denison subscribed for an aggregate of 2,607,692 Units and 616,669 FT Shares for gross proceeds of C$863,000.62 under the Offering. Participation by these insiders of the Company in the Offering constitutes a related-party transaction as defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The issuance of these securities is exempt from the formal valuation requirements of Section 5.4 of MI 61-101 pursuant to Subsection 5.5(b) of MI 61-101 as the Shares are listed on the TSX Venture Exchange. The issuance of these securities is also exempt from the minority approval requirements of Section 5.6 of MI 61-101 pursuant to Subsection 5.7(1)(b) of MI 61-101 as the fair market value was less than C$2,500,000.

Denison will be filing an early warning report, under National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in respect of the acquisition by Denison of 2,307,692 Units on closing of the Offering. Prior to the issuance of the Units by Cosa, Denison held 16,723,172 Shares and 1,263,833 common share purchase warrants, representing 19.95% of Cosa on a partially-diluted basis. Immediately after giving effect to the Offering, Denison had beneficial ownership of, or control and direction over, 19,030,864 Shares, representing 16.85% of the issued and outstanding Shares of Cosa as of the date hereof and 2,417,679 common share purchase warrants, representing 9.81% of the warrants issued and outstanding after the Offering. The Units were acquired by Denison for investment purposes. Denison intends to review, on a continuous basis, various factors related to its investment in Cosa, and may decide to acquire or dispose of additional securities of Cosa as future circumstances may dictate, including pursuant to the exercise of warrants, the terms of the Acquisition Agreement between Denison and Cosa dated November 26, 2024 and/or its pre-emptive rights under the Investor Rights Agreement. Further information is available in Cosa's press release dated January 14, 2025, in the early warning report to be filed by Denison under Cosa's profile on SEDAR+ or by contacting Denison:

Geoff Smith, Vice President Corporate Development & Commercial
Denison Mines Corp.
[email protected]
Suite 1100 - 40 University, Toronto, Ontario M5J 1T1

The Offered securities described in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any United States state securities laws, and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons absent registration or an exemption from registration requirements. This news release does not constitute an offer for sale of securities, nor a solicitation for offers to buy any securities in the United States, not in any other jurisdiction in which such offer, solicitation or sale would be unlawful.

The terms "Unites States" and "U.S. person" used herein are as defined in Regulation S under the U.S. Securities Act.

About Cosa Resources Corp.

Cosa Resources is a Canadian uranium exploration company operating in northern Saskatchewan. The portfolio comprises roughly 237,000 ha across multiple underexplored 100% owned and Cosa-operated joint venture projects in the Athabasca Basin region, the majority of which reside within or adjacent to established uranium corridors.

In January of 2025, the Company entered a transformative strategic collaboration with Denison Mines that has secured Cosa access into several additional highly prospective eastern Athabasca uranium exploration projects. As Cosa's largest shareholder, Denison gains exposure to Cosa's potential for exploration success and its pipeline of uranium projects.

Cosa's award-winning management team has a track record of success in Saskatchewan. In 2022, members of the Cosa team were awarded the AME Colin Spence Award for the discovery of the Hurricane uranium deposit. Cosa personnel led teams or had integral roles in the discovery of Denison's Gryphon deposit and 92 Energy's GMZ zone and held key roles in the founding of both NexGen and IsoEnergy.

The Company's focus throughout 2026 is drilling at the Darby and Murphy Lake North projects in the eastern Athabasca Basin. Both projects are operated by Cosa and are 70/30 joint ventures between Cosa and Denison respectively. Drilling at Darby is planned to test priority targets identified by thorough review of historical data and drill core and will target areas with anomalous uranium, clay alteration, and historical mineralization intersected nearby. Drilling at Murphy Lake North will follow up 2025 drilling which intersected broad zones of structurally controlled alteration over roughly 2 kilometres of strike length.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Information

This press release contains "forward-looking information" within the meaning of applicable Canadian securities laws. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, identified by words or phrases such as "believes", "anticipates", "expects", "is expected", "scheduled", "estimates", "pending", "intends", "plans", "forecasts", "targets", or "hopes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "will", "should" "might", "will be taken", or "occur" and similar expressions) are not statements of historical fact and may be forward-looking statements. Forward-looking information herein includes, but is not limited to, statements that address activities, events or developments that Cosa expects or anticipates will or may occur in the future including the final approval of the Offering by the TSX Venture Exchange, the proposed use of proceeds of the Offering and the tax treatment of the Charity FT Units and FT Shares.

Forward-looking statements and forward-looking information relating to any future mineral production, liquidity, enhanced value and capital markets profile of the Company, future growth potential for the Company and its business, and future exploration plans are based on management's reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the price of metals; costs of exploration and development; the estimated costs of development of exploration projects; the Company's ability to operate in a safe and effective manner.

These statements reflect the Company's respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by management, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements or forward-looking information and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the future tax treatment of the Charity FT Units and FT Shares, competitive risks and the availability of financing; precious metals price volatility; risks associated with the conduct of the Company's mining activities; regulatory, consent or permitting delays; risks relating to reliance on the Company's management team and outside contractors; the Company's inability to obtain insurance to cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; risks relating to project financing and equity issuances; risks and unknowns inherent in all mining projects; contests over title to properties, particularly title to undeveloped properties; laws and regulations governing the environment, health and safety; operating or technical difficulties in connection with mining or development activities; employee relations, labour unrest or unavailability; the Company's interactions with surrounding communities; the speculative nature of exploration and development; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; and the factors identified in the Company's public disclosure documents. Readers are cautioned against attributing undue certainty to forward-looking statements or forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/276923

Key Takeaways Salesforce shares gained after Q3 earnings beat expectations and revenues rose 10% year over year.CRM saw broad strength across renamed Agentforce segments, led by 19.5% growth in the 360 Platform.Salesforce raised FY26 guidance, projecting up to $41.55B in revenues and higher non-GAAP EPS and cash flow.
Salesforce, Inc. (CRM - Free Report) shares gained 2.1% during Wednesday’s extended trading session after the company reported better-than-expected bottom-line results for the third quarter of fiscal 2026 and raised guidance for the full fiscal.

Salesforce reported third-quarter fiscal 2026 non-GAAP earnings of $3.25 per share, which beat the Zacks Consensus Estimate by 14.04%. The bottom line improved 34.9% year over year.

Salesforce’s fiscal third-quarter revenues of $10.3 billion match the Zacks Consensus Estimate and increased 10% year over year. The growth in top and bottom lines reflected the benefits of CRM’s go-to-market strategy and sustained focus on customer success. The initiatives to integrate generative artificial intelligence (AI) into its offerings also boosted demand for Salesforce’s solutions during the reported quarter.

Salesforce’s Q3 Performance in DetailComing to CRM’s business segments, revenues from Subscription and Support (95% of total revenues) increased 9.5% year over year to $9.73 billion. Professional Services and Other (5% of total sales) revenues declined 5.7% to $533 million.

In the third quarter of fiscal 2026, Salesforce renamed its service offerings under the Subscription and Support segment to reference Agentforce. There were no changes in the allocation of revenues between these service offerings coming from this change. The renamed offerings are now called Agentforce Sales, Agentforce Service, Agentforce 360 Platform, Slack and Other, Agentforce Marketing and Agentforce Commerce, and Agentforce Integration and Agentforce Analytics.

Agentforce Sales revenues grew 8.4% year over year to $2.3 billion. Revenues from Agentforce Service increased 9% to $2.5 billion. Agentforce 360 Platform, Slack and Other revenues rose 19.5% to $2.18 billion. Agentforce Marketing and Agentforce Commerce were up 2% to $1.36 billion. The Agentforce Integration and Agentforce Analytics division recorded 6.1% year-over-year growth to $1.39 billion.

Revenues from the Americas (65% of total revenues) increased 8% year over year to $6.7 billion. Sales in EMEA (24%) grew 7% to $2.5 billion, while the Asia Pacific (11%) region’s revenues rose 11% to $1.1 billion.

Non-GAAP operating income was $3.64 billion, up 16.5% from the year-ago quarter’s $3.12 billion. Moreover, the non-GAAP operating margin expanded 240 bps to 35.5%.

Salesforce’s Balance Sheet & Other DetailsSalesforce exited the fiscal third quarter with cash, cash equivalents and marketable securities of $11.32 billion, down from $15.37 billion at the end of the previous quarter. CRM generated an operating cash flow of $2.3 billion and a free cash flow of $2.2 billion.

As of Oct. 31, the current remaining performance obligation (cRPO) was $29.4 billion, up 11% year over year. The company returned $4.2 billion to shareholders, including $3.8 billion in share repurchases and $395 million in dividends.

Salesforce Updates Guidance for FY26Buoyed by stronger-than-expected third-quarter performance, Salesforce raised its revenue guidance for fiscal 2026. For fiscal 2026, Salesforce now expects revenues in the range of $41.45-$41.55 billion, up 9-10% year over year compared with the prior guidance of $41.1-$41.3 billion. The Zacks Consensus Estimate for revenues is currently pegged at $41.21 billion.

Subscription and Support revenues are now expected to increase slightly below 10%, instead of the 9.5% growth expected earlier. The company now anticipates fiscal 2026 non-GAAP earnings per share in the range of $11.75-$11.77, slightly higher than the previous forecast of $11.33-$11.37. The Zacks Consensus Estimate for non-GAAP earnings is currently pegged at $11.36.

Non-GAAP operating margin is projected to expand to 34.1%, while GAAP operating margin is expected to be 20.3%. Salesforce raised its forecast for operating cash flow growth to 13-14% year over year from the previous guidance of 12-13%. The company expects free cash flow growth to be in the range of 13-14% year over year, up from the previous guidance of 12-13%.

Salesforce initiated guidance for the fourth quarter of fiscal 2026. It projects total sales between $11.13 billion and $11.23 billion, which indicates 11-12% growth from the year-ago level. The Zacks Consensus Estimate for revenues is currently pegged at $10.89 billion.

The company expects non-GAAP earnings per share in the band of $3.02-$3.04, while GAAP EPS is anticipated to be between $1.47 and $1.49. The cRPO growth is projected to be approximately 15% year over year. The Zacks Consensus Estimate for non-GAAP earnings is currently pegged at $3.01.

Salesforce’s Zacks Rank and Stocks to ConsiderCurrently, CRM carries a Zacks Rank #3 (Hold).

PROS Holdings (PRO - Free Report) , Blackbaud (BLKB - Free Report) and Open Text (OTEX - Free Report) are some better-ranked stocks that investors can consider from the Zacks Computer – Software industry. PROS Holdings, Blackbaud and Open Text each carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The Zacks Consensus Estimate for PROS Holdings’ 2025 earnings has been revised upward by a penny to 67 cents per share over the past 60 days and suggests a year-over-year increase of 63.4%. PROS Holdings shares have risen 5.8% year to date.

The Zacks Consensus Estimate for Blackbaud’s 2025 earnings has been revised upward by a penny to $4.41 per share in the past 60 days, calling for a year-over-year rise of 8.4%. Blackbaud shares have plunged 16.5% year to date.

The Zacks Consensus Estimate for Open Text’s fiscal 2026 earnings has moved northward by 6 cents to $4.21 per share over the past 30 days and implies a year-over-year increase of 10.2%. Open Text shares have jumped 17.9% year to date.

December 4, 2025 – TheNewswire - British Columbia – Cameo Resources Inc. (CSE: MEO , FSE: Z88) (“ Cameo ” or the “ Company ”) is pleased to announce that it has completed the field data collection from its initial Induced Polarization(“ IP ”) geophysical survey previously announced October 8, 2025. The Company engaged HETAMIS Mineral Services Limited (“ HETAMIS ”) to conduct the IP survey over its 100% owned, 19.58 square kilometer, Katoro Gold Property (“ Katoro ” or the “ Property ”), located in the Geita region of the Lake Victoria Goldfields of Tanzania .   Highlights of the IP Survey :

Ethereum’s largest buyers keep adding to their ETH stacks even as the dollar value of those purchases shrinks. On-chain flows and DAT demand still absorb more supply than the market creates, while a fresh RSI breakout suggests momentum may soon spill into price.

Bitmine’s ETH Buys Slow in Dollar Terms as Monthly Totals Drop SharplyBitmine keeps increasing its Ethereum holdings, yet the value of those purchases shows a clear downward trend. The latest chart shared by Maartunn illustrates steady hourly inflows into the treasury while the broader market downturn reduces their dollar impact. As prices eased from mid-November, each tranche of accumulated ETH translated into a smaller monthly total.

Bitmine Ethereum Treasury Inflows. Source: CryptoQuant / X

The decline becomes evident when comparing recent figures. July saw Bitmine add about 2.6 billion dollars’ worth of Ethereum. August then peaked near 4.3 billion dollars, marking the strongest month in the period. However, the momentum reversed in September with 3.4 billion dollars, followed by 2.3 billion dollars in October. By November, the monthly value fell to just 892 million dollars, even though Bitmine continued buying consistently.

These numbers show that Bitmine’s accumulation strategy has not changed, but market conditions have. As ETH prices moved lower, the same inflow volumes produced smaller valuations. Therefore, the firm’s rising on-chain balances now contrast with the sharp slide in monthly dollar totals, signaling how price pressure has reshaped the scale of its treasury expansion.

ETH DAT Buying Outpaces New Supply Even as Monthly Totals DeclineMoreover, ETH demand from DAT structures remains strong, yet the latest figures show a steady drop in monthly purchase volumes. The chart shared by Max Shannon highlights that DATs continue to provide a structural bid for Ethereum, though the scale of that support has weakened since the summer peak.

ETH Purchases vs Net New Supply. Source: Bitwise / X

In July, DATs absorbed about 1.24 million ETH while net new supply held near 80,000 ETH. August marked the high point with roughly 1.97 million ETH purchased, again far above the modest monthly issuance. After that surge, buying slowed. September recorded around 1.06 million ETH, followed by 670,000 ETH in October. By November, purchases slipped to roughly 370,000 ETH even as net new supply stayed anchored at about 80,000 ETH each month.

This pattern shows that DAT demand still exceeds Ethereum’s new supply by a wide margin. However, the progressive decline in monthly inflows underscores how the pace of accumulation has cooled since late summer, leaving a narrower cushion between buyer demand and circulating issuance.

Analyst Flags Ethereum RSI Breakout as Price Compresses Near SupportMeanwhile, Ethereum chart from trader Merlijn shows momentum indicators turning higher even as price trades inside a tight triangle. On the two-day ETH/USD view, candles cluster just above horizontal support while a descending trendline caps recent highs, forming a compression zone.

Ethereum RSI Breakout Signal. Source: Merlijn The Trader

At the same time, the relative strength index has already broken its own downward resistance, hinting that buying pressure may be returning ahead of price. Merlijn wrote that “momentum leads, price follows” and pointed to 3,400 dollars as the next upside level if the breakout extends. He added that “the move is brewing,” urging market watchers to monitor Ethereum closely as it approaches the apex of the current pattern.

On December 4, 2025, Axelar, through its research division Interop Labs, unveiled AgentFlux, an innovative tool designed to bring AI-driven automation to blockchain environments without relying on external cloud services. This breakthrough offers financial institutions an opportunity to implement intelligent automation securely, safeguarding sensitive data.

AgentFlux addresses a critical need for financial services: the ability to harness the power of artificial intelligence while keeping data privacy intact. Traditionally, deploying AI systems involves utilizing external cloud infrastructure, which raises concerns about data security and compliance with privacy regulations. By offering an on-chain solution, AgentFlux eliminates the need for data to leave the secure blockchain environment, mitigating the risk of exposure to external threats.

Axelar’s initiative comes at a time when the financial sector is increasingly adopting AI technologies to enhance efficiency and decision-making. As institutions face pressure to innovate, they seek tools that not only streamline operations but also adhere to stringent security standards. AgentFlux provides a solution by integrating AI capabilities directly within blockchain frameworks, maintaining data integrity and confidentiality.

The financial industry has historically been cautious about adopting new technologies due to regulatory requirements and the potential for data breaches. The introduction of AgentFlux represents a significant step forward, allowing firms to automate complex processes such as transaction monitoring, risk assessment, and customer service. By embedding AI functionalities within the blockchain, financial institutions can achieve real-time data processing and analysis without compromising security.

One of the defining features of AgentFlux is its ability to operate independently from cloud-based systems. Traditional AI deployments often rely on cloud providers, which can become points of vulnerability. By keeping operations on-chain, AgentFlux ensures that data remains within the secure confines of the blockchain, reducing the risk of unauthorized access and data leaks.

Beyond security, AgentFlux offers financial firms a new level of transparency and accountability. Blockchain’s immutable ledger provides a clear audit trail for all automated processes, enhancing trust among stakeholders. This transparency is crucial in a sector where compliance and regulatory oversight are paramount. By enabling observable, traceable AI operations, AgentFlux supports institutions in meeting regulatory demands while leveraging advanced technology.

The integration of AI into blockchain systems is not without challenges. One potential risk is the computational intensity of AI operations, which can strain blockchain resources. However, Axelar’s solution is designed to optimize performance, balancing the demands of AI processing with the need for efficient blockchain operations. By implementing advanced algorithms and optimization techniques, AgentFlux aims to deliver robust performance without overburdening the system.

AgentFlux’s development reflects a broader trend in the convergence of AI and blockchain technologies. As industries seek to harness the power of both, the potential applications extend beyond finance. Healthcare, logistics, and supply chain management are also exploring on-chain AI to enhance operations and improve outcomes. The introduction of AgentFlux positions Axelar at the forefront of this technological fusion, offering a blueprint for other sectors to follow.

Historically, the financial industry has been a pioneer in adopting digital innovations, from online banking to algorithmic trading. The introduction of AgentFlux aligns with this trajectory, offering a new tool to navigate the complexities of modern financial operations. By providing a secure, on-chain AI solution, Axelar is tapping into the growing demand for smarter, more efficient ways to manage financial data.

The implications of AgentFlux extend to global financial markets, where cross-border transactions and international regulations add layers of complexity. By facilitating secure, automated processes within blockchain networks, the platform enables seamless, compliant transactions across jurisdictions. This capability is particularly relevant as global markets become more interconnected and regulatory frameworks evolve to address new technological advancements.

Despite its potential, the deployment of AgentFlux requires careful consideration of existing infrastructure and integration capabilities. Financial institutions must evaluate their current systems to determine compatibility with on-chain AI solutions. Moreover, while AgentFlux promises enhanced security, institutions must remain vigilant against emerging threats and continually assess the robustness of their overall cybersecurity strategies.

In summary, the launch of AgentFlux by Axelar marks a significant milestone in the integration of AI and blockchain technologies, providing financial firms with a secure, efficient means of automating processes. By keeping operations on-chain, the platform addresses key concerns about data privacy and compliance, paving the way for broader adoption of AI in the financial sector. As the industry continues to evolve, tools like AgentFlux will play a crucial role in shaping the future of finance.

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Vitalik Buterin detailed three upcoming protocol updates that will influence how Ethereum manages computation, security, and long-term scalability. The information was published in a new technical post on his official blog, highlighting renewed priorities for maintaining the network's long-term resilience.

Canada has emerged as a key player, especially in the realm of Bitcoin. As of December 2025, the country is experiencing a noticeable surge in Bitcoin usage, driven by growing public interest and increased business adoption. However, the rising number of transactions is testing the limits of its current transaction speed capabilities.

The Canadian crypto landscape is witnessing an uptick in Bitcoin transactions, with both individual and institutional participants showing heightened activity. This growth is partly fueled by the country’s progressive stance on digital currencies, with government policies encouraging innovation in the fintech sector. The friendly regulatory environment has made Canada a hub for blockchain startups and has facilitated the integration of cryptocurrencies into mainstream financial activities.

Despite the encouraging climate, the increase in Bitcoin transactions has brought to light significant challenges concerning network efficiency. The average confirmation time for a Bitcoin transaction can vary significantly, often taking longer during periods of high demand. This delay stems from the Bitcoin network’s design, which processes transactions in blocks, each taking about 10 minutes on average. When transaction volumes spike, this can lead to prolonged wait times, affecting both consumers and businesses.

Bitcoin’s underlying technology, the blockchain, processes transactions through a decentralized network of nodes that validate and confirm each exchange. The system’s decentralized nature, while enhancing security and reducing the risk of fraud, inherently limits its scalability. As demand increases, the network’s ability to maintain swift transaction speeds becomes strained. In Canada, this limitation has prompted discussions among stakeholders about potential solutions, such as implementing layer-two protocols like the Lightning Network to facilitate faster transactions.

The Lightning Network is a second-layer solution designed to enable off-chain transactions, which can significantly reduce congestion on the Bitcoin blockchain. By allowing smaller transactions to occur off the main blockchain and only settling the net result on-chain, the Lightning Network can alleviate pressure and enhance speed. This approach is gaining traction in Canada, especially among tech-savvy businesses eager to leverage Bitcoin’s potential without the lag associated with congested networks.

Canada’s financial authorities are also keenly observing the developments in the crypto space. The Bank of Canada, for instance, has been studying the implications of digital currencies and has initiated pilot projects to explore the feasibility of a central bank digital currency (CBDC). Although a Canadian CBDC would not rely on blockchain technology in the same way as Bitcoin, its development reflects the country’s commitment to staying ahead in the digital currency race.

Historically, Canada has been proactive in adopting new technologies. The country’s early embrace of the internet and mobile banking set the stage for its current openness to blockchain and cryptocurrencies. Canadian citizens are generally tech-savvy, with high internet penetration rates and a strong inclination towards digital solutions. These cultural and technological foundations have contributed to the rapid uptake of cryptocurrencies.

However, the path forward is not without risks. Bitcoin remains highly volatile, which can impact its attractiveness as a stable medium of exchange or store of value. Additionally, the environmental concerns associated with Bitcoin mining, which consumes significant amounts of energy, remain a contentious issue. In response, some Canadian companies are exploring greener mining practices, utilizing renewable energy sources to mitigate environmental impact.

Blockchain security is another area of concern. While blockchain technology is celebrated for its security features, high-profile hacks and security breaches in the crypto space have raised questions about the safety of digital assets. In Canada, regulatory bodies are focusing on implementing robust cybersecurity measures to protect users and maintain trust in digital currencies.

Furthermore, the potential for regulatory changes poses a challenge. As cryptocurrencies become more integrated into the financial system, the possibility of stricter regulations looms. While Canada currently maintains a balanced approach, future shifts in policy could impact the growth trajectory of crypto adoption.

Comparing Canada’s situation with other countries, the United States, for example, has a more fragmented approach to crypto regulation, with different states adopting varying policies. This contrasts with Canada’s more unified regulatory framework, which could provide a competitive advantage. Conversely, countries like El Salvador, which have taken bold steps by adopting Bitcoin as legal tender, present a different model of integration that could influence Canada’s policy decisions.

In conclusion, Canada stands at the forefront of the cryptocurrency revolution, balancing innovation with caution. The surge in Bitcoin transactions underscores both the opportunities and challenges inherent in adopting digital currencies. As Canada navigates these complexities, its approach could serve as a blueprint for other nations looking to harness the benefits of cryptocurrencies while mitigating their risks. As the global landscape of digital finance evolves, Canada’s experience will likely offer valuable insights into the sustainable integration of cryptocurrencies into the mainstream economy.

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Whales closing their BTC longs could also mean that smart money believed the upside is limited.

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Solana Mobile will roll out a native token called SKR at the start of next year, a move that ties a new crypto asset directly to the company’s Seeker smartphone and its growing app network.

According to the company’s own blog and subsequent reports, SKR is being positioned as a governance and incentive token for people who use, build for, or operate parts of the platform.

Solana Mobile Confirms SKR Launch
Solana Mobile confirmed that SKR will launch in January 2026 and that the total supply will be 10 billion SKR. The announcement appeared on the company’s official channels and was widely picked up by crypto news outlets.

SKR Tokenomics

The total SKR supply is 10 billion SKR.

SKR distribution:

– 30% Airdrops

– 25% Growth + Partnerships

– 10% Liquidity + Launch

– 10% Community Treasury

– 15% Solana Mobile

– 10% Solana Labs pic.twitter.com/pluKRzTDVZ

— Seeker | Solana Mobile (@solanamobile) December 3, 2025

Token Distribution And Staking
Reports have disclosed a detailed split of that 10 billion. Some 30% is reserved for airdrops. 25% goes to growth and partnerships. 10% is set aside for liquidity and launch, another 10% for a community treasury, and 15% for Solana Mobile itself, etc.

This arrangement puts a large chunk of supply into the hands of users and partners from day one, with a sizeable allocation kept for the company and its parent.

SOL market cap currently at $80 billion. Chart: TradingView
How SKR Will Be Used
According to the Solana Mobile post, SKR will be used to reward builders and reinforce device security, and it will help coordinate how the dApp Store and related services work on Seeker devices.

The company also described a “Guardian” model meant to involve trusted actors in tasks like app review and device verification.

Source: Solana Mobile
Who Might Benefit First
Seeker owners and early dApp developers are the most likely to see immediate benefits. Airdrops are intended for users and builders, so people who actively use Seeker apps or who run services for that ecosystem could receive SKR at launch.

Based on reports, the token’s real value will hang on how many people buy Seeker phones, how many apps appear, and how active the community becomes.

A big airdrop number does not guarantee broad usage, and governance systems often face challenges if participation is low or power concentrates with a few parties.

Featured image from Gemini, chart from TradingView

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Christian, a journalist and editor with leadership roles in Philippine and Canadian media, is fueled by his love for writing and cryptocurrency. Off-screen, he's a cook and cinephile who's constantly intrigued by the size of the universe.

Ethereum shows renewed strength across multiple market signals as fresh ETF inflows, a weekly MA50 reclaim, and a clean ETHBTC breakout all align at the same time. Together, these developments mark one of the strongest multi-chart shifts for Ethereum in recent weeks.

Ethereum exchange traded funds saw a combined inflow of about 140.2 million dollars on Dec. 3, according to data shared by market watcher Ted. The table shows a broad rebound across issuers, with green entries marking positive flows after several days of mixed activity.

Ethereum ETF Daily Flows Table. Source: Ted

BlackRock recorded the largest single-issuer inflow, adding roughly 53 million dollars to its ETHA product. Fidelity followed with 34.4 million dollars, while Bitwise reported 4.5 million dollars. Grayscale’s ETHE and ETH trusts also posted modest positive entries, including 27.6 million dollars into EZET and 20.7 million dollars into ETHE.

The latest inflow reverses the sharp outflows seen on Dec. 2, when several issuers showed red figures. Transitioning into December, flows turned positive as multiple funds moved back into green territory. The data reflects renewed accumulation among U.S. spot Ethereum issuers during a period of broader market volatility.

Ethereum Reclaims Weekly MA50 After Sharp BounceEthereum moved back above the weekly 50-period moving average, according to a chart shared by Crypto Rover. The latest candle shows price reclaiming the blue MA50 line after several weeks of decline, signaling a clean recovery on the higher-timeframe chart.

Ethereum Weekly MA50 Chart. Source: Crypto Rover on X / TradingView

The weekly chart highlights a swift rebound from the recent pullback zone. ETH closed the week near 3,195 dollars, pushing back through the moving average that previously acted as resistance during the November drop. The move places Ethereum back inside the mid-trend structure after testing deeper support levels.

Trading volume on the weekly chart remains steady, and the green candle shows renewed buying after last week’s long downside wick. ETH now trades near the center of its multi-month range as it approaches the next cluster of overhead levels visible on the chart.

ETH/BTC Breaks Three-Month Downtrend on Daily ChartThe ETH/BTC pair has broken above a descending trendline that capped price since early September, according to a chart shared by Max Crypto. The daily candles show a clean move through the white resistance line after weeks of consolidation near the lows of the range.

ETHBTC Daily Downtrend Breakout. Source: Max Crypto on X and TradingView

The breakout follows a long sequence of lower highs, with ETH lagging behind Bitcoin for most of the past three months. Now, the fresh green candle closes above the trendline, signaling the first clear shift in structure on this timeframe.

This move improves the relative strength picture for Ethereum and other large-cap altcoins. As long as ETH/BTC holds above the former downtrend line, the cross signals that capital is rotating gradually away from Bitcoin and toward the broader altcoin market.

Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial.

Bitcoin (BTC) mining has evolved from garage rigs and warehouse farms into an institutional-scale industry projected to generate over $20 billion in revenue in 2025. Yet, most investors still see mining through an old lens. They either buy ASICs and deal with the headaches or gamble on volatile mining stocks. 

Summary

Bitcoin mining is shifting from hardware ownership to financial products, with tokenized hashrate and derivatives giving investors direct exposure to mining rewards without managing machines.
Hashrate is becoming a full-fledged commodity market, with forwards, hedges, and structured products allowing miners to stabilize revenue and institutions to trade mining capacity like energy or metals.
As infrastructure scales and institutional interest grows, hashrate is on track to become a standardized tradable asset, enabling predictable margins for miners and broad, ETF-like access for investors.

Markets are developing a cleaner exposure: tradable hashrate. Instead of managing hardware, investors can now buy tokens that represent computational power, collect mining rewards, and let professional operators handle machines behind the scenes.

Tokenization is just the first step
The early infrastructure is taking shape, with real money starting to flow in.

At the basic level, mining companies tokenize their computational power into tradable units. Each token represents a specific amount of hashrate — say, 1 TH/s. Token holders receive their proportional share of mining rewards. The mining company handles hardware, electricity, and maintenance. Investors just collect Bitcoin. For retail, tokenized hashrate lowers the barrier to entry: no hardware, hosting, or energy contracts, just exposure through a tradable token or listed product.

Platforms like Luxor have also introduced hashrate derivatives, forward contracts that miners use to hedge production and that sophisticated investors can trade for exposure through regulated markets. As of August 2025, Luxor’s OTC hashrate forwards had traded nearly $200 million notional YTD. These contracts hedge the revenue side of mining (hashprice), not input costs like electricity, so many operators combine them with traditional power hedges or PPAs to balance both sides of the equation. Together with tokenized mining, these instruments expand the financial toolkit that could mature into a full-fledged commodity market for hashrate.

Bitcoin’s 7D SMA hashrate recently peaked at 1.15 zettahashes per second on October 18th, 2025. That massive computational power now gets sliced up and sold to investors who never touch a mining rig.

Mining pools that once served only industrial operators issue tokens backed by their collective hashrate. The industry is shifting from selling mined Bitcoin to selling the ability to mine it.

Mining is becoming Wall Street’s next commodity play
Miners face the same problem that drove oil producers to create futures markets a century ago. Revenue swings wildly with prices, operational costs only climb higher, and competition appears suddenly and changes everything. Just as Exxon learned to sell next year’s oil production today to lock in predictable prices, Bitcoin miners now sell future hashrate to help miners secure more predictable revenue streams and make cash flows easier for banks to model and investors to understand. The model has worked for decades in energy and agriculture, where forward contracts protect producers from price swings.

When network difficulty spikes 20% in a single month, miners who hedged their hashrate through forward contracts keep their margins intact. The rest just take whatever the market gives them. So, what does a hashrate forward actually hedge? In practice, the underlier is computational power (e.g., TH/s). Settlement is indexed to Bitcoin block rewards and transaction fees, with adjustments for network difficulty. Key risks include basis risk (difficulty or fee volatility), operational uptime, and counterparty performance. Unlike BTC spot exposure, hashrate forwards directly reflect the economics of mining capacity.

Financial institutions are exploring how to adapt commodity market tools for hashrate. Some platforms now offer forward contracts for computational power. Others are developing difficulty hedging instruments. Regional indices exist mostly as concepts, waiting for the market depth to support real derivatives trading.

Once hashrate becomes fully financialized, it will redefine who can participate in mining. Today’s futures and swaps serve institutional traders. Tomorrow’s tokenized products will let anyone, from retail investors and crypto enthusiasts to institutional funds, access mining rewards without the operational complexity.

The building blocks are falling into place
Every financial innovation follows the same pattern. First comes basic trading, then derivatives, then structured products, and finally mass market adoption. Mining is moving through these stages quickly.

It started with a few bold moves: institutions adding Bitcoin to their balance sheets. Today, it’s no longer just a trend but a fixture: institutions now hold more than 10% of the total supply. Blockchain data shows this shift clearly, with public companies and ETFs absorbing Bitcoin at a pace the market has never seen before.

When Marathon and Riot went public, they gave retail investors their first shot at mining exposure without buying hardware. But mining stocks carried corporate risk, equity volatility, and offered only indirect exposure to the underlying business.

And now, tokenized hashrate takes this further. These products attract investors who’re looking for direct mining exposure, without the corporate layer. Some banks, like Sygnum, accept compute power as collateral for credit facilities and let miners borrow against future hashrate instead of selling Bitcoin reserves. The same transformation that took commodities decades is happening to hashrate in 24 months.

Miners need these tools as margins compress and competition intensifies. Investors want Bitcoin exposure beyond volatile spot prices. Hashrate products solve both problems simultaneously, which explains why adoption is growing rapidly, outpacing many other emerging crypto derivative categories.

The infrastructure is scaling up: systems that were little more than ideas a few years ago now channel hundreds of millions. If the pattern holds, retail products could follow the ETF trajectory, bringing hashrate within reach of everyday investors. The underlying mechanism is straightforward: investors don’t need to manage machines or self-custody BTC; they can participate in mining rewards through structured, professionally managed products.

In five years, hashrate could trade like any other commodity. Instead of pulling up a Bloomberg terminal and seeing only oil or copper futures, traders could also see BTC hashrate contracts listed alongside them. Portfolio managers would treat computational power as just another allocation, and major exchanges such as CME may eventually list standardized contracts, similar to other commodities.

Miners could finally run their businesses with predictable margins. They could sell their hashrate production three years forward and know exactly what they’ll earn, regardless of where Bitcoin trades. Mining turns into a predictable spread business: you know your power costs, you lock in your hashrate price, you pocket the difference.

The products available would range from dead simple to derivatives-trader complex. Anyone could buy basic hashrate tokens for exposure. Meanwhile, the quants would be trading difficulty swaps and would arbitrage regional indices. Banks would issue structured notes backed by computational power, and pension funds that won’t touch Bitcoin directly could still buy hashrate ETPs.

No longer hypothetical, the financialization of hashrate is underway, and advantage goes to those who recognize compute as both a resource and asset class.

Fakhul Miah

Fakhul Miah is the Managing Director of GoMining Institutional, bringing over 20 years of experience across investment banking and blockchain, including leadership roles at Morgan Stanley and Web3 pioneers. Founded in 2017, GoMining has grown into a Bitcoin-centered ecosystem anchored by 11 million+ TH/s of computing power across data centers in the U.S., Africa, and Central Asia. Its ecosystem spans digital miners, the Miner Wars GameFi project, a launchpad for BTCFi startups, GoMining Academy for education, and GoMining Institutional, the investment division of GoMining, where Fakhul leads institutional relationships and strategic growth, including the Alpha Blocks Fund, tailored for institutional investors.

Cover image via www.freepik.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Tron (TRX) founder Justin Sun has reacted as the blockchain hit a milestone in terms of unique account holders. Sun’s reaction came after Lookonchain, an on-chain analytics platform, highlighted that Tron’s total number of accounts has surpassed 350 million.  

Tron dominance on full displaySun took to X to write, "350 million milestone!" The development is very significant to the blockchain as it shows the growing usage and adoption of the network. It shows that 350 million different addresses have been created since Tron launched in 2017.

The spike to 350 million came after the network recorded over 261,000 new registrations in the last 24 hours, according to Tronscan data. This pushed the total number of accounts to 350,357,719.

Meanwhile, within the same time frame, the Tron network recorded 10,473,710 transactions, taking the total transaction count to 12.25 billion. These figures signal increased usage of the Tron network due to its dominance in low-fee stablecoin transfer.

This feature has made Tron very attractive to users looking to make transactions in terms of remittances and DeFi.

Meanwhile, on the crypto market, Tron has managed to stay green in the last 30 days despite broader market volatility. 

According to CoinMarketCap data, in the last 30 days, Tron is up by 0.1%. As of press time, Tron was changing hands at $0.2806, which represents a 0.5% increase in the last 24 hours. TRX climbed from a low of $0.2806 to its current level.

Tron might print higher figures in the price outlook if market participants actively engage in transacting the coin. The trading volume is currently in the red, down by 23.47% to $524.69 million. An exit from the red zone could support the price to move toward the $0.30 target.

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Tron’s resilience and growing adoptionTron has been known to post impressive numbers relative to other blockchains. In September 2025, for instance, Tron flipped nearly all other blockchains by raking in $1.142 million in revenue within a single day. 

Comparatively, Ethereum made $174,677 while Solana raked in $175,70,8, which showed Tron’s dominance for the month.

Meanwhile, the Tron treasury also got an upgrade in the month of September as Bravemorning Limited bought 312.5 million TRX. The value of the purchase was put at approximately $110 million at the time. The development shows confidence in the Tron network.