Market Signal Briefing

Having failed to reclaim $70,000 during the recovery started on February 24, Bitcoin (BTC) abruptly started a crash in the early hours of Friday, February 27, falling about 3.3% within just four hours.

12h05 ▪ 5 min read ▪ by Ghiles A.

Summarize this article with:

The cryptocurrency market is going through a period of high tension, marked by several months of decline. Yet, search data reveals an unexpected signal: despite the negative climate, bitcoin is attracting a discreet but measurable renewed interest. This evolution highlights a clear divide between investors’ fear and the growing curiosity of the public.

In brief Google search trends reveal a clear divide between investor fear and growing public curiosity around bitcoin. Alarmist queries such as “Bitcoin to zero” and “Bitcoin is dead” are surging, a signal historically associated with market bottoms. At the same time, educational searches like “What is Bitcoin?” are hitting record highs, driven by new, novice users. Bitcoin Google Trends illustrate investors’ concern While bitcoin has just surpassed $68,000 again after a marked rebound in the US stock markets, web statistics show an increase in negative queries. Many people are searching for truly alarmist expressions.

Specific terms like “Bitcoin to zero” are breaking records, notably in the United States where it reached a score of 100 on the company’s relative interest scale this February. The phrase “Bitcoin is dead” is also experiencing unprecedented success.

The authors of these queries already have some financial knowledge. However, their experience in this market is still too short. They clearly lack perspective on historical declines. As a result, they do not know how the asset reacts to major crises. Their view is limited to recent chart fluctuations. This virtual panic reflects the general sentiment of economic actors.

Increase in searches for the expressions “Bitcoin to zero” and “Bitcoin is dead”.
An instructive comparison with previous historical market cycles Experienced traders analyze these statistics carefully. They logically compare the current situation with past archives. Often, such extreme pessimism indicates an imminent bottom.

Investor NoName emphasizes in a post on X a significant increase in negative bitcoin queries. These have doubled compared to previous crypto winters. They even exceed levels recorded during the health crisis.

At the same time, the site Bitcoin Deaths, which lists media articles proclaiming bitcoin’s end – numbering 467 to date –, indicates that an investor placing $100 at each of these declarations would today have accumulated a virtual portfolio exceeding $68 million, strikingly illustrating the resilience of the digital currency.

Marked interest from novices in the definition of Bitcoin Meanwhile, a completely different phenomenon is happening online. The exact question “What is Bitcoin?” is exploding on the web. This basic query is now at an all-time historic high. This unprecedented situation reveals an obvious divide in public opinion. On one side, some users fear a total financial collapse.

On the other hand, curious people seek particularly simple information about BTC. These internet users are generally complete beginners in the field. They have no prior investment experience. Yet, these educational queries far surpass pessimistic searches. Faced with the decline, the general public is exploring fundamental concepts. The price drop is visibly attracting a whole new audience. 

The digital asset thus retains a consistently strong intrinsic appeal. It now reaches people distant from traditional finance. The renowned platform Binance confirms this overall trend around bitcoin. The company states that millions of individuals discover this universe daily. This sudden enthusiasm for the technology deserves thorough analysis.

The emergence of a new generation of buyers on the network This intense online activity provides very relevant insight. However, these bitcoin queries have not yet translated into immediate investments. The arrival of new capital logically requires an incompressible delay. Internet users first seek to understand how the system works. 

Nonetheless, this educational enthusiasm is a very powerful early indicator. It suggests the emergence of a new cohort of beginner individuals. These novices are currently accumulating knowledge about the Bitcoin network. 

In the long run, they might more easily take the step to purchase. Once the economy stabilizes, their massive arrival will likely support demand. Historically, this learning cycle often precedes a major adoption phase. Current interest thus lays the solid foundations for the next bullish cycle in the crypto market.

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Ghiles A.

Journaliste et rédacteur web passionné par l’univers des cryptomonnaies et des technologies Web3. J’y traite les dernières tendances et actualités afin de proposer un contenu de haute qualité à un large public du secteur.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

Hedera (HBAR) has moved back into the spotlight after reports revealed that a senior U.S. Department of Transportation official filed a patent outlining a nationwide road-use charging system built on distributed ledger technology. What stands out is the patent’s explicit support for Hashgraph-style systems, directly aligning with Hedera’s architecture.

For investors tracking real-world blockchain adoption, this development reframes the HBAR price outlook from short-term volatility to long-term infrastructure relevance, a narrative that markets tend to price in early.

Government Adoption Narrative: Why It Matters for HBAR PriceUnlike typical crypto headlines, this narrative is not based on partnerships or marketing announcements. It is rooted in a publicly filed patent, describing systems for mileage-based road charges, real-time digital settlement, smart contracts, and privacy-preserving data flows.

These are areas where Hedera’s design stands out: high throughput, fast finality, predictable low fees, and enterprise-grade security. Such features are critical when evaluating technology for national-scale systems, which is why the development has added weight to the broader HBAR price outlook.

Even if adoption unfolds gradually, markets often price in future utility well before execution, especially when the use case involves public infrastructure.

HBAR Price Action Shows Signs of RecoveryOn the technical front, HBAR has printed a Morning Star pattern, a classic bullish reversal signal that typically appears near the end of prolonged downtrends. This formation suggests that downside momentum has faded and buyers are starting to regain control. Following the pattern formation, price has moved higher in a measured and controlled manner, rather than a sharp speculative spike. 

This type of recovery often indicates accumulation rather than short-term trading activity. Importantly, HBAR continues to respect a rising diagonal support, reinforcing the idea that the market structure is stabilizing.

Instead of heavy volatility, HBAR price action shows steady higher lows, signaling that sellers are struggling to push HBAR back into prior demand zones. At present, HBAR appears to be coiling above the key support zone near $0.0900, a behavior commonly seen before trend continuation moves. As long as price holds above this rising base, the technical bias remains constructive.

A clean break above nearby resistance of $0.1100 would likely attract momentum traders, potentially accelerating the move. On the downside, a loss of the ascending support of $0.0900 would delay the bullish scenario, but for now, the structure favors continuation rather than rejection.

This alignment between improving price behavior and strengthening narrative support adds credibility to the current HBAR price outlook.

Final Take: Early Stage of a Bigger Move?This Hedera price analysis suggests HBAR may be transitioning from recovery into early rally formation. The combination of government-linked adoption signals, bullish reversal patterns, and controlled price action places HBAR at a critical inflection point. While confirmation is still required, the market appears to be positioning before momentum fully arrives, rather than reacting after the fact.

If HBAR price continues to respect its rising structure and broader adoption narratives gain traction, the HBAR price outlook could shift decisively toward a sustained upside phase, making the coming sessions particularly important to watch.

Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.

Investment Disclaimer:All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.

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Bitcoin bulls were battling to flip three resistance levels back into support by the end of the week, but history shows they may need to wait another month.

Bitcoin (BTC) is battling three key resistance levels at once, and the end of the bear market may depend on breaking them in March.

Key takeaways:

Bitcoin still faces three resistance levels on the weekly chart after its mid-week gains.

Bitcoin is down 14% in February, the fifth consecutive red month for BTC price.

Bitcoin bulls attempt three support flipsData from TradingView showed the BTC/USD pair hovering around $67,720 after being rejected by the $70,000 psychological level. 

An analysis of the current market structure points to a cluster of barriers that have merged into a resistance area, as shown in the chart below.

The 200-week exponential moving average (EMA) at $68,330, the old 2021 all-time high at $69,000, and the psychological level at $70,000 are capping the price rebound at the time of writing.

BTC/USD weekly chart. Source: Cointelegraph/TradingViewBTC failed to reclaim any of these levels following its climb to $70,040 on Wednesday. Commenting, analyst Captain Faibik said that Bitcoin needs a weekly candlestick close above the 200-week EMA for the bulls to maintain momentum. 

If this happens, “we can then expect a bounce back toward 80k in the coming days,” the analyst said in a recent post on X, adding:

“I think March is going to be a bullish month.” BTC/USD weekly chart. Source: Captain Faibik As Cointelegraph reported, the bear market may end if the BTC price breaks above the cost basis of the 18-24-month age band at $74,500.

Bitcoin heads for five straight months of lossesHistorical price data from CoinGlass confirmed Bitcoin is facing its fifth consecutive red month, down 14% in February. The last time this happened was toward the end of 2018 at the depths of the bear market.

“Bitcoin is nearing a rare bearish streak,” Alex said in a recent post on X, adding:

“Last time in 2018 and 2019, the streak was followed by five strong green candles and a 4x rally.” Bitcoin monthly percentage returns. Source: CoinGlassAfter a 57% decline between August 2018 and January 2019, Bitcoin then recorded five consecutive green months, gaining 317% to $13,880 from $3,329.

If history repeats, the reversal could begin in April, particularly as selling pressure nears exhaustion levels.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.

TL;DR:

LUNC rallied about 24% to near $0.00004905 as Bitcoin hovered around $67,000 and the broader market stayed flat. Burn metrics showed 32 million tokens burned that day, 224.46 million weekly, and 85.58 billion total, nearly 19% of supply. Volume jumped 466% to about $74.3 million as SEC scrutiny of Jane Street and lawsuit claims tied to TerraUSD’s May 7, 2022 depegging resurfaced. Do Kwon debate returned; LUNC stays far below $117 peak. Terra Luna Classic (LUNC) staged a sharp move, climbing about 24% and printing a session high near $0.00004905, even as the broader crypto market stayed mostly flat. With Bitcoin hovering around $67,000, the rally read less like passive beta and more like a single-name rotation. In that setup, a headline-driven LUNC breakout pulled traders back into a token still shadowed by its 2022 collapse. The move caught attention precisely because the tape was quiet, prompting the obvious question: what, exactly, pushed LUNC higher today, and why it mattered today?

Burns and lawsuit chatter drive the move One of the clearest catalysts was supply reduction. Burn metrics show about 32 million LUNC tokens were burned on the day, pushing the total weekly burn to roughly 224.46 million. It added that around 85.58 billion tokens have been burned so far, described as nearly 19% of total supply. Since the 2022 collapse, community-driven burns have been positioned as a confidence repair tool, and the latest numbers gave that storyline fresh oxygen. For traders, the burn cadence signaled intent and boosted investor optimism. In short, burn momentum reframed the rally as scarcity.

Supply optics were paired with a burst of activity. LUNC’s 24-hour trading volume surged 466% to around $74.3 million, a spike consistent with fast capital rushing into a high-volatility setup. In market structure terms, that kind of volume can validate a move by improving liquidity, but it also raises the odds of sharp reversals if the catalyst fades. With the broader market described as flat, the volume jump stood out as its own signal. It also helped LUNC dominate attention despite muted majors. Put differently, a 466% volume shock confirmed the chase.

Legal headlines added a layer. The SEC has started investigating Jane Street over possible market manipulation in stocks and crypto products. It referenced a lawsuit alleging the firm used insider information to front-run positions and intentionally trigger TerraUSD’s depegging on May 7, 2022, an event described as erasing nearly $40 billion from the crypto market. Some in the LUNC community argue it may have involved an external attack, while online discussion revisited Do Kwon. Even so, lawsuit chatter re-ignited the Terra narrative, with LUNC still far below its historical all-time $117 peak.

It has been a rough stretch for Bitcoin. Prices have been pinned between $60,000 and $70,000 for weeks, and a brief dip below $67,000 on Thursday did little to ease investor nerves.

Now, a handful of analysts are saying the worst of the selling may finally be over — though what comes next is far from exciting.

No Crash, No Boom — Just Patience Crypto analyst Willy Woo put it plainly on X. The wave of bearish selling by investors “seems to have exhausted,” he said, giving Bitcoin some breathing room to trade flat for the next few weeks.

A small bounce toward the mid-$70,000 range is possible. But Woo was clear — that kind of move would almost certainly be pushed back down before it gains any real footing.

His best guess for when the bearish trend actually ends is Q4 2026. A genuine bull run, he said, probably won’t return until Q1 or Q2 of 2027.

This bearish sell down by investors seems to have exhausted, which gives price a repreive to consolidate sideways for maybe a month, even a rebound to mid 70s, which would likely to be rejected.

This is because the broader regime is heavily bearish with both spot and futures… pic.twitter.com/MAUlmBJtbE

— Willy Woo (@willywoo) February 27, 2026

The wait, in other words, is measured in quarters — not weeks. Woo also flagged something that doesn’t show up in Bitcoin’s price chart. Both spot and futures market liquidity are deteriorating at the same time.

That combination, he said, has never historically produced a real Bitcoin rally. Until one or both of those conditions improve, any upward movement is likely to be temporary.

BTCUSD now trading at $67,872. Chart: TradingView Why Did Bitcoin Drop In The First Place? Bitwise Chief Investment Officer Matt Hougan had a straightforward answer to that question. Forget the theories about market manipulation or fears over quantum computing breaking crypto encryption.

According to Hougan, the explanation is simple — people who owned Bitcoin sold it. Some followed the four-year market cycle. Others cashed out to fund investments in AI companies.

Some had no particular reason beyond wanting out. “They are mostly done selling, and we are in the process of bottoming,” he wrote on X.

The conspiracy theories are wild. First it was Binance and then it was Wintermute and then it was an unknown offshore macro hedge fund and then it was paper bitcoin and. today it is Jane Street and next week it will be someone else.

The real reason bitcoin is down is that a…

— Matt Hougan (@Matt_Hougan) February 26, 2026

Spring Will Come New all-time highs will come, he added. “This is a classic crypto winter, and there will be a classic crypto spring.”

For now, Woo’s analysis offers the most grounded take on where things stand. The selling has slowed. The market is catching its breath. But with liquidity still weak and no clear catalyst on the horizon,

Bitcoin’s path forward looks less like a comeback and more like a long, quiet wait — one that, by his own estimate, won’t end until the final months of 2026 at the earliest.

Featured image from Unsplash, chart from TradingView

ZKsync said it will deprecate ZKsync Lite on May 4, freezing the network and shifting focus to Era and ZK Stack.

Flare and Xaman wallet collaborated to enable one-click DeFi access for XRP holders. The integration aims to unlock billions of idle XRP in the Xaman wallet. Flare Network introduced a new one-click DeFi vault in collaboration with Xaman wallet, especially for XRP holders to simplify yield generation while eliminating complicated cross-chain steps, keeping users in full control of their assets.

According to the official update from Flare on February 26, it allows users to deposit XRP into curated DeFi vault strategies directly from their existing Xaman wallet with a single confirmation. 

The Architecture Behind Simplified XRP DeFi The DeFi vault consists of three infrastructure layers. Initially, FAssets, a wrapped version of XRP (FXRP), allows it to interact with DeFi protocols on Flare. Secondly, Flare Smart Accounts enable users to initiate DeFi actions from XRPL wallets while executing via the Flare chain. Lastly, Xaman wallet provides a familiar UI that lets users sign transactions with their existing XRPL keys. 

A new standard for XRP yield.

With Flare Smart Accounts, you can now access fully onchain yield on @upshift_fi — directly from XRPL.

No new wallets.
No new keys.
No gas tokens.
No custody tradeoffs.
No cross-chain complexity.

Now live in @XamanWallet. pic.twitter.com/kQdu2gk9QO

— Flare ☀️ (@FlareNetworks) February 26, 2026 Further, the Flare DeFi vault spans multiple strategies, including lending, liquidity provision, and collateralized borrowing, that reduce reliance on one incentive program and maintain more stable returns, as these strategy is curated and risk-managed by Clearstar, which monitors positions and rebalances funds when necessary.

 As a result, the yield generated is distributed in FXRP and can either be withdrawn or automatically compounded within the vault. Also, more than 60 million FXRP are now being used in structured products and staking programs. The token’s issued supply has exceeded 100 million, which shows that there is at least some willingness to use XRP instead of keeping it dormant.

Unlocking Idle XRP Capital Amid Market Volatility With that, Xaman presently provides access to almost 2 billion XRP, demonstrating how much capital is sitting idle in the economy. Much of the XRP has yet to be used in DeFi, because putting XRP into decentralized finance requires multiple wallets, learning unfamiliar chains, handling gas tokens, and wrapping assets manually. This collaboration intends to remove these hurdles.  

Following this partnership, XRP is trading down in the last 24 hours, slides 2.96% and is trading at $1.40, as it is down more than 26% over a month. Despite continuous market volatility, the cooperation represents a strategic push and could potentially shape the next stage of XRP’s position in decentralized finance.

Highlighted Crypto News Today:

Vitalik Buterin Unveils Four-Point Quantum Security Plan for Ethereum

Why Dogecoin (DOGE) May Be Approaching Its “Last Dance” Prefer us on Google

Dogecoin shows momentum signals suggesting potential short term rally.Strong Bitcoin correlation supports hopes of renewed upward movement.Analysts predict possible final cycle surge called last dance.Dogecoin (DOGE), the meme coin with the leading market capitalization and liquidity in the crypto market, is showing several potential signs of a new short-term rally.

Analysis from Swissblock and its notable correlation with Bitcoin are raising hopes that DOGE could recover after five consecutive months of decline.

Swissblock Predicts DOGE May Face a “Last Dance”Altcoin Vector, the institutional altcoin research arm of Swissblock, recently pointed out that DOGE’s Impulse index is showing a notable signal. The Impulse index is Swissblock’s proprietary indicator that measures an altcoin’s momentum.

A strong surge in the Impulse indicator could become the final trigger. It could activate a new price rally for DOGE.

DOGE Impulse Performance. Source: Altcoin VectorThe analysis also highlights a notable correlation between Bitcoin and DOGE. The two assets have shown significant alignment over the past several months. Data from DefiLlama shows that the 1-year, 1-month, and 7-day correlation coefficients between BTC and DOGE are 0.79, 0.83, and 0.88, respectively.

In the final week of February, Bitcoin recovered from $62,700 to $67,700. It also showed signs of a return to dip-buying flows. This could be a factor reinforcing Swissblock’s forecast.

Henrik Zeberg, Head of Macroeconomics at Swissblock, presented a bullish scenario for DOGE.

In his latest analysis, he applied Elliott Wave theory. He argued that DOGE is currently in Wave 4 and preparing to enter Wave 5. Wave 5 is the final rally of a major cycle. Therefore, he described the upcoming scenario as a potential “last dance” for DOGE.

Dogecoin (DOGE) Price Structure. Source: SwissblockZeberg compared the structure with historical performance. Wave 1 increased 22x. Wave 3 rose 65x. Wave 5 could still achieve a significant gain of 25x to 53x.

“And if we can start to see Bitcoin bouncing off of this current levels and Ethereum, especially Ethereum doing the same, well then maybe that Dogecoin has one last dance which will take it to a new all-time high despite the fact that this was established on as a joke” – Henrik Zeberg stated.

DOGE’s Recovery Needs More Than Just Technical SignalsFrom a short-term technical perspective, traders also observe a breakout pattern forming. This reinforces the bullish outlook. If the breakout succeeds, DOGE could quickly retest key resistance levels. That would support the argument for a strong final rally within the cycle.

$Doge/4-hour

Contracting Triangle loading 🔥#Dogecoin is squeezing tight between converging trendlines — highs getting lower, lows getting higher. Classic Contracting Triangle pattern building up pressure.

This coil typically resolves with a sharp breakout. Price is… pic.twitter.com/9xscNQzCIe

— Trader Tardigrade (@TATrader_Alan) February 27, 2026 Unlike low-cap meme coins, DOGE has a market capitalization of more than $16 billion and a daily trading volume exceeding $1 billion. Its upward momentum requires strong participation from crowd capital flows.

History shows that this usually happens when DOGE is influenced by major news or by a highly influential figure such as Elon Musk. Therefore, to regain its spotlight, DOGE may need a new narrative. It may need more than technical breakthroughs alone.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

Solana price dipped about 1.9% in 24h to around $86 on Feb 27 as intraday volatility clashed with a still‑bearish weekly structure highlighting deeper support near $50.

Summary

Solana price traded near $86–$87 on Feb 27, with intraday swings between roughly $84 and $88 and a daily move of about -1.9%. Despite short‑term recovery attempts and a roughly 5% weekly gain, SOL remains down about 30–36% over the past month and year, keeping the broader trend biased lower. Analysts highlight major weekly support near $50, then $22 and $10 in an extreme downside scenario, levels that align with prior consolidation and accumulation zones. Solana (SOL) price displayed early signs of recovery as of Feb. 27, though technical analysis of the weekly chart structure indicated potential downside risk, according to market data.

As of Feb. 27, SOL trades near $86, down about 1.9% on the day and roughly 36% below its level a year ago, after a failed breakout near $90 confirmed a local bull trap and shifted structure back to bearish, leaving $78 as the first major downside support while bulls eye any reclaim of the high‑$90s as a signal that the corrective phase may be ending.

The cryptocurrency’s price action showed intraday volatility, with the token oscillating within a trading range, according to technical indicators. Analysts noted that the bearish weekly structure pointed to major support levels that could be tested if momentum weakens.

Market observers indicated that downside support zones remained vulnerable to testing amid the current price movement patterns. The technical setup suggested traders should monitor key support levels as the asset navigates the current market conditions.

$SOL breaking below support at $95k was the beginning of a bearish cycle and reclaiming that point will have a bullish signal for investors.

So before you run and place a buy now, wait for price to test back the 95k zone and if it breaks above, BUY or Vice-versa.#Solana pic.twitter.com/Zz4tMQXfMZ

— Master Rich (@_MasterRich) February 26, 2026 Solana, which trades under the ticker SOL, has experienced price fluctuations consistent with broader cryptocurrency market volatility in recent sessions. The token’s chart structure indicated a potential reversal pattern, though the longer-term weekly timeframe presented a more cautious outlook, according to technical analysis.

Journalist

Posted: February 27, 2026

The crypto market looks like it’s hanging by a thread.

The Fear & Greed Index jumped five points on the 25th of February, but it’s still just shy of the “fear” zone. Bulls need to step in, or Bitcoin [BTC] could slip back toward extreme fear, signaling renewed capitulation risk.

On the flip side, there are some green shoots. Bitcoin dominance [BTC.D] is running into resistance just under 60%, but the Altcoin Season Index is holding steady in a tight range. That suggests confidence in BTC hasn’t faded as rotational flows into altcoins stay capped.

Source: TradingView (BTC.D)

On the derivatives side, things look bullish, too. 

The 24‑hour liquidation chart shows longs are still getting wiped out, making up 66% of the $250 million liquidated, while Open Interest (OI) remains under control, meaning leverage isn’t getting out of hand.

All in all, strong BTC-led momentum plus cool derivatives could quickly flip the market, making Bitcoin’s current chop feel like a healthy reset if sentiment swings risk-on. Notably, analysts are keeping an eye on the upcoming regulatory clarity as a potential catalyst to do just that.

Crypto market watches Bitcoin as bulls gain the upper hand The bullish signs above back up a strong bottom thesis. 

On the rotation side, investors are leaning into utility plays, with Decred [DCR] leading 24‑hour gains, up nearly 15%. No major altcoins cracked the top movers, which just reinforces AMBCrypto’s take on Bitcoin dominance.

Against this backdrop, strong ETF inflows are making the divergence clear. The BTC ETF pulled in $254 million in the latest record, while Ethereum [ETH] saw only $6.6 million. Bottom line? Any meaningful rebound in the crypto market is looking like it’s going to run through Bitcoin.

Source: SoSoValue

In this context, BTC hanging around $65k is starting to feel like a bottom.

However, it’s far from clear-cut, as sentiment remains cautious. Because of this, analysts warn that the upcoming clarity on the 1st of March could act either as a catalyst or as a bull trap that catches late-longs off guard.

Until then, this zone is shaping up as a high-volatility battlefield between bulls and bears. That said, looking at current capital flows and the crypto market’s stance, bulls are slowly gaining the upper hand, with a potential short squeeze looming on the horizon.

Final Summary Despite cautious sentiment, Bitcoin’s chop around $65k, strong ETF inflows, and controlled derivatives suggest a potential bottom forming. Investors are leaning into utility plays, while altcoin momentum remains capped, reinforcing Bitcoin dominance amid ongoing high-volatility trading between bulls and bears.

U.S. Senator Elizabeth Warren has strongly opposed World Liberty Financial’s plan to get a national bank charter. She called it a serious corruption issue linked to President Donald Trump. 

The issue has sparked new concern about crypto rules, foreign investment, and political influence in the digital finance industry.

World Liberty Financial Bank Charter Application Faces ScrutinyAccording to the filing on February 23, 2026, World Liberty Financial applied for a national trust bank charter through the Office of the Comptroller of the Currency (OCC). 

The crypto firm, linked to Donald Trump and his family, plans to issue a dollar-pegged stablecoin called USD1 and offer digital asset custody services.

During a Senate Banking Committee hearing, Warren questioned OCC Comptroller Jonathan Gould over the approval process. She warned that granting the charter could create serious conflict-of-interest concerns if a president-linked company gains federal banking authority.

The firm is connected to Donald Trump Jr., Eric Trump, and other partners, with Trump listed as co-founder emeritus. 

If approved, the charter would allow the company to operate under federal oversight similar to other national trust banks.

$500 Million UAE Investment Raises National Security ConcernsWarren also highlighted a reported $500 million investment tied to Aryam Investment 1, a vehicle linked to Sheikh Tahnoon bin Zayed Al Nahyan of the United Arab Emirates. 

Reports suggest the investor acquired a 49% stake in World Liberty Financial shortly before Trump’s inauguration.

As per the reports, nearly $187 million from the transaction flowed to Trump family entities. Warren argued that such foreign financial ties raise national security and transparency questions. She demanded full disclosure of anyone owning 10% or more of the company.

🚨BREAKING: 🇺🇸Elizabeth Warren calls Trump-backed WLFI the “Worst Presidential #Crypto corruption scandal” and says 10%+ owners must be disclosed or the bank bid will be rejected. pic.twitter.com/qrhKV50v6t

— Pushpendra Singh Digital (@PushpendraTech) February 27, 2026 OCC Defends Review ProcessComptroller Gould defended the OCC’s review process, stating that applications are evaluated under standard regulatory procedures, not political pressure. He said the only political pressure he had felt came during the hearing itself.

The final decision on the bank charter may carry major implications for both crypto markets and political accountability.

Meanwhile, World Liberty Financial’s WLFI token has fallen nearly 30% over the past month and is currently trading around $0.1145. 

Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.

Investment Disclaimer:All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.

Sponsored and Advertisements:Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.

TL;DR:

Ripple outlined a 2026 pivot for XRPL, replacing centralized grants with a federated support model linking governance, funding, and upgrades. An integrated hub, XAO DAO microgrants, and regional hubs like XRP Asia aim to route capital horizontally and reduce single-entity dependency. The institutional push includes the FinTech Builder Program, proposed XLS-66 native lending, and privacy via zero-knowledge proofs and multi-purpose tokens, backed by venture and academic partners. Ripple detailed a 2026 pivot for the XRP Ledger ecosystem, moving away from a centralized, grants first playbook toward a distributed support architecture. The outline pairs DAO led funding, regional hubs, and institutional grade upgrades, while reducing reliance on Ripple as the primary capital allocator. Rather than tweaking optics, it redesigns funding pathways, governance mechanisms, and protocol capabilities in parallel, signaling a transition from incubation to infrastructure. In that context, a federated support model becomes the new operating baseline for builders planning 2026 roadmaps. The goal is broader decision-making and less single-point dependency for growth.

Decentralizing support and upgrading the stack The funding redesign is organized around three coordinated pillars. An integrated digital hub will aggregate grants, accelerators, and support programs, routing projects to multiple XRPL capital sources instead of a single gatekeeper. XAO DAO introduces a hybrid governance model that decentralizes microgrants through community voting while keeping operational guardrails. Regional hubs such as XRP Asia add localized mentorship and funding across APAC, spreading innovation capacity beyond Western centers. The combined effect is horizontal capital distribution, with pathways for teams at each stage. Together, funding decisions move closer to builders and regions while reducing single-entity dependency.

On the technical track, the roadmap positions XRPL as financial infrastructure for institutions. A FinTech Builder Program will back startups building stablecoin payment rails, tokenized credit markets, and enterprise-grade tooling, shifting from experimentation to regulated, compliance-ready delivery. The proposed XLS-66 amendment adds protocol-level lending, enabling on-chain liquidity provision, native yield, and built-in risk frameworks at the base layer. That contrasts with app-layer DeFi lending and signals a push to standardize credit on-ledger directly. Privacy work includes zero-knowledge proofs for confidential validation and multi-purpose tokens designed for regulatory requirements. Here, institution-ready primitives are the product strategy.

Ripple also framed 2026 as a broader coalition effort. Venture participants named include Pantera Capital, Dragonfly, Franklin Templeton, and a100x Ventures, with roles extending beyond checks into mentorship and access to capital networks. The University Digital Asset Xcelerator program expands to the University of Oxford and Fundação Getulio Vargas, adding formal research channels to the pipeline. The roadmap highlights three themes: decentralized capital allocation, protocol-level tooling, and globalized development. Ultimately, execution will be judged by adoption and governance depth, including XLS-66 uptake and privacy feature engagement. That will determine whether shift is evolution or restructuring.

Q4: 2026-02-26 Earnings SummaryEPS of $0.50 beats by $0.01

 |

Revenue of

$2.13B

(17.61% Y/Y)

beats by $86.73M

Monster Beverage Corporation (MNST) Q4 2025 Earnings Call February 26, 2026 5:00 PM EST

Company Participants

Hilton Schlosberg - CEO & Vice Chairman
Mark Astrachan - SVP of Investor Relations & Corporate Development
Guy Carling - President of EMEA & OSP

Conference Call Participants

Dara Mohsenian - Morgan Stanley, Research Division
Filippo Falorni - Citigroup Inc., Research Division
Matthew Smith - Stifel, Nicolaus & Company, Incorporated, Research Division
Bonnie Herzog - Goldman Sachs Group, Inc., Research Division
Carlos Alberto Laboy - HSBC Global Investment Research
Andrea Teixeira - JPMorgan Chase & Co, Research Division

Presentation

Operator

Good day, and welcome to the Monster Beverage Corporation Fourth Quarter 2025 Financial Results Conference Call. [Operator Instructions] Please note, this event is being recorded. I would now like to turn the conference over to Hilton Schlosberg, Vice Chairman and Chief Executive Officer. Please go ahead, sir.

Hilton Schlosberg
CEO & Vice Chairman

Good afternoon, ladies and gentlemen. Thank you for attending this call. I'm Hilton Schlosberg, Vice Chairman and Chief Executive Officer. Also on the call are Tom Kelly, our Chief Financial Officer; Rob Gehring, our CEO of the Americas; Guy Carling, our CEO of EMEA and OSP; and Emelie Tirre, our Chief Strategy Officer. As you saw in the press release, these are new roles and responsibilities for Rob, Guy and Emelie and I would like to congratulate each on their new position and for their contribution to Monster's ongoing success.

Mark Astrachan, our SVP of Investor Relations and Corporate Development, will now read our cautionary statement.

Mark Astrachan
SVP of Investor Relations & Corporate Development

Before we begin, I would like to remind listeners that certain statements made during this call may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 as amended in Section 21E of Securities Exchange Act of

The parent of the CashApp and Square apps said artificial intelligence is changing the way companies operate. (Dreamstime)

Shares of payment services company Block jumped 19% in premarket trading Friday after rising nearly 25% on Thursday afternoon. The moves came after after it said it was cutting 4,000 workers, or 40% of its workforce, and raised its 2026 guidance.

, /PRNewswire/ -- IDEAYA Biosciences, Inc. (NASDAQ: IDYA), a precision medicine oncology company committed to the discovery and development of targeted therapeutics, today announced that, on February 26, 2026, the Compensation Committee of IDEAYA's Board of Directors granted non-qualified stock options to purchase an aggregate of 346,200 shares of the Company's common stock to three newly hired employees. The stock options were granted under the IDEAYA Biosciences, Inc. 2023 Employment Inducement Incentive Award Plan (2023 Inducement Plan) as an inducement material to such individuals' entering into employment with IDEAYA in accordance with Nasdaq Listing Rule 5635(c)(4).

The 2023 Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously employees of IDEAYA, or following a bona fide period of non-employment, as an inducement material to such individuals' entering into employment with IDEAYA, pursuant to Nasdaq Listing Rule 5635(c)(4).

The stock options have an exercise price of $31.90 per share, which is equal to the closing price of IDEAYA's common stock on The Nasdaq Global Select Market on the date of grant. The stock options have a 10-year term and will vest over four years, with 25% of the options vesting on the first anniversary of the vesting commencement date and the remaining 75% of the options vesting in equal monthly installments over the three years thereafter. Vesting of the stock options is subject to such employee's continued service to IDEAYA on each vesting date.

About IDEAYA Biosciences
IDEAYA is a precision medicine oncology company committed to the discovery, development, and commercialization of transformative therapies for cancer. Our approach integrates expertise in small-molecule drug discovery, structural biology and bioinformatics with robust internal capabilities in identifying and validating translational biomarkers to develop tailored, potentially first-in-class targeted therapies aligned to the genetic drivers of disease. We have built a deep pipeline of product candidates focused on synthetic lethality and antibody-drug conjugates, or ADCs, for molecularly defined solid tumor indications. Our mission is to bring forth the next wave of precision oncology therapies that are more selective, more effective, and deeply personalized with the goal of altering the course of disease and improving clinical outcomes for patients with cancer.

Investor and Media Contact
IDEAYA Biosciences
Joshua Bleharski, Ph.D.
Chief Financial Officer 
[email protected]

SOURCE IDEAYA Biosciences, Inc.

Highlights:

618 m of 0.77% CuEq from surface in NAK25-80, linking high grade, at-surface gold rich mineralization to high-grade core at depth.Continuity from surface to depth: NAK25-80 builds on prior long-intervals, including NAK25-78: 802 m of 0.71% CuEq from surface, and strengthens confidence in thickness and continuity of the South Zone mineralization.Material step-out growth: NAK25-73/75/79/80 extend the South Zone corridor ~750 m east and ~500 m south along the porphyry margin, open to the east and south.Strengthens the district-scale thesis: Building on Feb 25, 2026 footprint expansion and reinforces a high-grade core within a very broad mineralized envelope.Toronto, Ontario--(Newsfile Corp. - February 27, 2026) - American Eagle Gold Corp. (TSXV: AE) (OTCQB: AMEGF) (the "Company" or "American Eagle") reports new drill results from its 100%-owned NAK Project that further de-risk and expand the South Zone while reinforcing NAK's emerging district-scale growth profile. These results follow the Company's February 25, 2026 release, which demonstrated continuous stock-hosted mineralization over a 1.7 km east-west trend, complementing this significant expansion by further extending mineralization over 500 m south of the Babine porphyry stock.

Hole NAK25-80 delivered a standout interval of 618 m averaging 0.77% copper equivalent (CuEq) from surface. This result confirms strong continuity within the South Zone high-grade core and further supports the concept of a large, coherent mineralized body extending from surface to significant depth, building on prior long-interval drilling in the South Zone (including NAK25-78: 802 m of 0.71% CuEq from surface).

Importantly, step-out drilling to the east (NAK25-73, NAK25-75, and NAK25-79) indicates a connected mineralized corridor along the southern margin of the Babine porphyry stock that can now be traced for at least ~750 m eastward from the South Zone/Main Zone area, and ~500 m to the south. This materially increases the mineralized footprint of the South Zone and leaves the corridor open to further expansion to the east and south.

Together, the February 25 district-scale breakthrough, highlighted by NAK25-70's 901 m of 0.43% CuEq from surface, and today's South Zone results reinforce a clear growth pathway at NAK: advance the higher-grade South Zone as the near-term core, while systematically expanding and vectoring within a much larger, newly demonstrated mineralized system.

View NAK Section Map and 3D Model Incorporating February 27 Results

View Plan Map of Reported Holes

Watch Video Discussing February 27 Results

NAK25-80

NAK25-80 was drilled from near the western boundary of the high-grade historical Gold or "Stockwork Zone", which was further expanded by the Company in drilling between 2022 and 2025. The drill hole was collared into rocks of the Babine biotite feldspar porphyry stock, which hosts mineralized stockwork to a depth of 142 m. This interval returned strong gold grades and strongly anomalous copper from surface (101 m of 0.68 g/t Au, 0.14 % Cu). Below 142 m, and down to a depth of 659 meters, the hole intersected sandstone and conglomerate that were intruded by mafic dykes, with mineralization becoming increasingly copper-rich. The mineralization features localized zones of conglomerate clast replacement chalcopyrite and bornite, along with variably dense disseminations, and these are interspersed with quartz-anhydrite veins that host coarse aggregates of bornite and, in some places, molybdenite.

NAK25-80 Assay Results (Table 1)*

HoleFrom (m)To (m)Length (m)Cu %Au g/tAg g/tMo ppmCuEq %NAK25-80416596180.230.421.01140.77Including

NAK25-80411421010.140.681.1660.95And Including

NAK25-802466594130.280.381.11410.80Including

NAK25-804626591970.340.301.21490.77Within

NAK25-80417316900.220.380.951040.71View Cross Section

* Copper Equivalent (CuEq) shown in Tables for drill intercepts are calculated on the basis of US$ 4.50/lb for Cu, US$ 3,375/oz for Au, US$ 60/oz for Ag and US$ 25/lb for Mo, with 80% metallurgical recoveries assumed for all metals (since it's unclear what metals will be the principal products, assuming different recoveries is premature at this stage). The formula is: CuEq. = Cu % + (Au grade in g/t x (Au recovery / Cu recovery) x [Au price ÷ 31] / [Cu price x 2200 x 1%]) + (Ag grade in g/t x (Ag recovery / Cu recovery) x [Ag price ÷ 31] / [Cu price x 2200 x 1%] + (Mo grade in % x (Mo recovery / Cu recovery) x [Mo price] / [Cu price]). The assays have not been capped. The reported intervals represent drill intercepts, and insufficient data are available at this time to state the true thickness of the mineralized intervals.

South Zone Eastern Expansion

The additional holes in this release, NAK25-73, -75, and -79 successfully link the broad, low-to-moderate grade mineralization enveloping the high-grade South Zone to near-surface mineralization previously intersected to the east in drill hole NAK23-09. Hole NAK25-73 was collared from the same pad as NAK23-09, and was drilled shallowly to the west, intersecting 1,032 m grading 0.25% CuEq from surface, with mineralization occurring largely within stratified rocks marginal to the Babine porphyry stock to the north, with higher-grade intervals associated with dykes of a variety of compositions. NAK25-79 was collared 320 meters southeast of NAK25-73 and was drilled to the southwest. It intersected sporadic copper mineralization that increased substantially in tenor below 400 meters, extending the mineralization in that area over 500 meters to the south of the southern boundary of the Babine porphyry stock. The highest-grade mineralization in the hole was hosted by intervals of coarser-grained sandstone and conglomerate that are correlative with similarly well-mineralized rocks along strike to the northwest.

NAK25-73 Assay Results (Table 2)

HoleFrom (m)To (m)Length (m)Cu %Au g/tAg g/tMo ppmCuEq %NAK25-736103910330.120.080.6540.25Including

NAK25-734175911740.150.070.7700.28Including

NAK25-736297471170.300.101.2840.48Including

NAK25-7391910391200.150.100.5810.32View Cross Section

NAK25-75 Assay Results (Table 3)

HoleFrom (m)To (m)Length (m)Cu %Au g/tAg g/tMo ppmCuEq %NAK25-75584543960.110.070.6620.24Within

NAK25-75589809220.100.060.5640.22Including

NAK25-755869473610.130.080.5860.27Including

NAK25-75787875880.240.111.12360.51View Cross Section

NAK25-79 Assay Results (Table 4)

HoleFrom (m)To (m)Length (m)Cu %Au g/tAg g/tMo ppmCuEq %NAK25-794445511070.130.141.5210.33Within

NAK25-794447663220.120.071.2170.23Including

NAK25-796607661060.180.061.4170.29View Cross Section

Sign Up For American Eagle Gold's Live Webinar at 1pm EST

HoleUTM_GridUTM_EastUTM_NorthAzimuthInclinationTD (m)NAK25-73NAD83_Z96759906129284255-551039NAK25-75NAD83_Z96756926129488210-60980NAK25-79NAD83_Z96762426129093240-50807NAK25-80NAD83_Z96752226129400230-72731QA/QC and Sampling Protocol

Sampling at NAK follows a rigorous methodology and internal QA/QC protocol. Drill core is halved on site, and samples are submitted to ALS Geochemistry in Langley, British Columbia for preparation and analysis. ALS is accredited to the ISO/IEC 17025 standard for assays. All analytical methods include quality control standards inserted at set frequencies. The entire sample interval is crushed and homogenized, and 250 g of the homogenized sample is pulped. All samples were analyzed for gold, silver, copper, molybdenum and a suite of 45 other major and trace elements. Analysis for gold is by fire assay fusion followed by Inductively Coupled Plasma Atomic Emission Spectroscopy (ICP-AES) on 30 g of pulp. Analysis for silver, copper, and molybdenum and all other major and trace elements are analyzed by four-acid digestion followed by Inductively Coupled Plasma Mass Spectroscopy (ICP-MS).

Internal QA/QC protocols dictate that individual core samples are no less than 70 cm and no greater than 3 m in length. To control standard, blank, and duplicate sample frequency, and to better constrain pass/fail re-analysis intervals, samples are submitted to the lab in 50 sample batches. Within each 50-sample batch, there is one gold-copper standard and two coarse reject duplicates, inserted at regular intervals, and two blank samples, inserted sequentially following well-mineralized samples where possible, for a total of 10% QA/QC samples. All gold and copper standard analyses from the 2024 program passed within 3 standard deviations of expected values. Where duplicate values differed significantly, the lower values from the resulting re-analyses were used.

About American Eagle's NAK Project

The NAK Project lies within the Babine copper-gold porphyry district of central British Columbia. It has excellent infrastructure through all-season roads and is close to the towns of Smithers, Houston, and Burns Lake, B.C., which lie along a major rail line and Provincial Highway 16. Historical drilling and geophysical, geological, and geochemical work at NAK, which began in the 1960's, tested only to shallow depths. Still, the work revealed a very large near-surface copper-gold system that measures over 1.5 km x 1.5 km. Drilling completed by American Eagle in 2022, 2023, and 2024 returned significant intervals of high-grade copper-gold mineralization that reached beyond and much deeper than the historical drilling, indicating that zones of near-surface and deeper mineralization, locally with considerably higher grades, exist within the broader NAK property mineralizing system. American Eagle Gold completed an aggressive 31,500 metre drill program in 2025 designed to expand and improve the mineral footprint; assays are currently being received.

For the latest videos from American Eagle, Ore Group, and all things mining, subscribe to our YouTube Channel: youtube.com/@theoregroup

About American Eagle Gold Corp.

American Eagle is dedicated to advancing its NAK copper-gold porphyry project in west-central British Columbia, Canada. The Company benefits from over $25 million in cash, bolstered by two strategic investors formed in the past two years with Teck Resources and South32. With substantial financial and technical resources, American Eagle Gold is well-positioned to drill, de-risk, and define the full potential of the NAK Copper-Gold porphyry project.

Q.P. Statement

Mark Bradley, B.Sc., M.Sc., P.Geo., a Certified Professional Geologist and independent 'qualified person' for the purposes of Canada's National Instrument 43-101 Standards of Disclosure for Mineral Properties, has verified and approved the information contained in this news release.

Forward-Looking Statements

Certain information in this press release may contain forward-looking statements. Forward-looking statements in this press release include, but are not limited to: including statements relating to the use of proceeds of the Offering, the tax treatment of the Charity FT Shares, the receipt of all necessary regulatory approvals in connection with the Offering, the 2025 drill program or its anticipated results at the Company's NAK project, the ability of the Company to make the Qualifying Expenditures as anticipated by management, and other matters ancillary or incidental to the foregoing. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Therefore, actual results might differ materially from those suggested in forward-looking statements. American Eagle Gold Corp. assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to American Eagle Gold Corp. Additional information identifying risks and uncertainties is contained in filings by American Eagle Gold Corp. with Canadian securities regulators, which filings are available under American Eagle Gold Corp. profile at www.sedarplus.ca.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/285606

Source: American Eagle Gold Corp.

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February 27, 2026 06:00 ET  | Source: Johnson Outdoors Inc.

RACINE, Wis., Feb. 27, 2026 (GLOBE NEWSWIRE) -- Johnson Outdoors Inc. (Nasdaq: JOUT), a leading global innovator of outdoor recreation equipment and technology, today announced approval by its Board of Directors of a quarterly cash dividend of $0.33 per Class A share and $0.30 per Class B share.

The quarterly cash dividend is payable on April 30, 2026, to shareholders of record at the close of business on April 16, 2026.

About Johnson Outdoors Inc.

JOHNSON OUTDOORS is a leading global innovator of outdoor recreation equipment and technologies that inspire more people to experience the awe of the great outdoors. The company designs, manufactures and markets a portfolio of winning, consumer-preferred brands across four categories: Watercraft Recreation, Fishing, Diving and Camping. Johnson Outdoors' iconic brands include: Old Town® canoes and kayaks; Carlisle® paddles; Minn Kota® trolling motors, shallow water anchors and battery chargers; Cannon® downriggers; Humminbird® marine electronics and charts; SCUBAPRO® dive equipment; and Jetboil® outdoor cooking systems.

Visit Johnson Outdoors at http://www.johnsonoutdoors.com

Safe Harbor Statement

Certain matters discussed in this press release are “forward-looking statements,” intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical fact are considered forward-looking statements. These statements may be identified by the use of forward-looking words or phrases such as "anticipate,'' "believe,'' "confident," "could,'' "expect,'' "intend,'' "may,'' "planned,'' "potential,'' "should,'' "will,'' "would'' or the negative of those terms or other words of similar meaning. Such forward-looking statements are subject to certain risks and uncertainties, which could cause actual results or outcomes to differ materially from those currently anticipated. Factors that could affect actual results or outcomes include the matters described under the caption “Risk Factors” in Item 1A of the Company’s Form 10-K for the fiscal year ended October 3, 2025 which was filed with the Securities and Exchange Commission on December 12, 2025, and the following: changes in economic conditions, consumer confidence levels and discretionary spending patterns in key markets; uncertainties stemming from political instability (and its impact on the economies in jurisdictions where the Company has operations), uncertainties stemming from changes in U.S. trade policies, tariffs, and the reaction of other countries to such changes; the global outbreaks of disease, which may affect market and economic conditions, and may have wide-ranging impacts on employees, customers and various aspects of our operations; the Company’s success in implementing its strategic plan, including its targeted sales growth platforms, innovation focus and its increasing digital presence; litigation costs related to actions of and disputes with third parties, including competitors; the Company’s continued success in its working capital management and cost-structure reductions; the Company’s success in integrating strategic acquisitions; the risk of future write-downs of goodwill or other long-lived assets; the ability of the Company’s customers to meet payment obligations; the impact of actions of the Company’s competitors with respect to product development or enhancement or the introduction of new products into the Company’s markets; movements in foreign currencies, interest rates or commodity costs; fluctuations in the prices of raw materials or the availability of raw materials or components used by the Company; any disruptions in the Company’s supply chain as a result of material fluctuations in the Company’s order volumes and requirements for raw materials and other components, or the demand for those same raw materials and components by third parties, necessary to manufacture and produce the Company’s products including related to shortages in procuring necessary raw materials and components to manufacture and produce such products; the success of the Company’s suppliers and customers and the impact of any consolidation in the industries of the Company’s suppliers and customers; the ability of the Company to deploy its capital successfully; unanticipated outcomes related to outsourcing certain manufacturing processes; unanticipated outcomes related to litigation matters; and adverse weather conditions. Shareholders, potential investors and other readers are urged to consider these factors in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements included herein are only made as of the date of this filing. The Company assumes no obligation, and disclaims any obligation, to update such forward-looking statements to reflect subsequent events or circumstances.

At Johnson Outdoors Inc.  David Johnson        
Chief Financial Officer       
262-631-6600      Patricia Penman
Chief Marketing Officer
262-631-6600  

‒ Full Year 2025 Performance Met or Exceeded All Guidance Metrics and 2026 Reflects Another Year of Growth –

‒ Q4 2025 Net Revenue of $814 million; GAAP Net Income of $35 million; Diluted Income per Share of $0.11 ‒
‒ Q4 2025 Adjusted Net Income of $68 million, Adjusted EBITDA of $175 million; Adjusted Diluted EPS of $0.21 ‒

‒ Full Year 2025 Net Revenue of $3.02 billion; GAAP Net Income of $72 million; Diluted Income per Share of $0.22 ‒
‒ Full Year 2025 Adjusted Net Income of $269 million; Adjusted EBITDA of $688 million; Adjusted Diluted EPS of $0.83 ‒

‒ Provides 2026 Financial Guidance of $3.05 to $3.15 billion in net revenue, $720 to $760 million in Adjusted EBITDA, and $0.93 to $1.03 in Adjusted Diluted EPS –

BRIDGEWATER, N.J., Feb. 27, 2026 (GLOBE NEWSWIRE) -- Amneal Pharmaceuticals, Inc. (Nasdaq: AMRX) (“Amneal” or the “Company”) today announced its results for the fourth quarter and full year ended December 31, 2025.

“We are extremely pleased with Amneal’s sixth consecutive year of consistent execution and strong growth. Our full year 2025 performance highlights the durability of our diversified portfolio and the successful execution of our strategy. In Specialty, CREXONT® continues to see strong uptake, and we successfully launched our newest branded product, the BREKIYA® autoinjector. In Affordable Medicines, we delivered a robust cadence of new product approvals, including our first two inhalation products and our fourth and fifth biosimilars. Looking ahead, we believe Amneal is very well positioned to deliver substantial growth and create long-term value for years to come,” said Chirag and Chintu Patel, Co-Chief Executive Officers.

Net revenue in the fourth quarter of 2025 was $814 million, an increase of 11% compared to $731 million in the fourth quarter of 2024. Specialty net revenue increased 38% driven by CREXONT® and UNITHROID®. Affordable Medicines net revenue decreased 1% due to the timing of revenue for key products and new launches. AvKARE net revenue increased 24% driven by growth in the government label sales channel. Net income attributable to Amneal Pharmaceuticals, Inc. was $35 million in the fourth quarter of 2025 compared to a net loss of $31 million in the fourth quarter of 2024, reflecting higher revenue and gross profit and lower operating expense. Adjusted EBITDA in the fourth quarter of 2025 was $175 million, an increase of 13% compared to the fourth quarter of 2024, reflective of higher revenue and gross profit, partially offset by commercial investments. Diluted income per share in the fourth quarter of 2025 was $0.11 compared to a loss of $0.10 for the fourth quarter of 2024 due to the aforementioned factors as well as lower interest expense. Adjusted diluted EPS in the fourth quarter of 2025 was $0.21 compared to $0.12 in the fourth quarter of 2024.

Net revenue for the year ended December 31, 2025 was $3.02 billion, an increase of 8%, compared to $2.79 billion for the year ended December 31, 2024. Revenues for each of the business segments increased in 2025 with Specialty growing 19%, Affordable Medicines growing 4%, and AvKARE growing 12%. Net income attributable to Amneal Pharmaceuticals, Inc. was $72 million for the year ended December 31, 2025 compared to a net loss of $117 million for the year ended December 31, 2024, due to higher revenue and gross profit, and lower expenses. Adjusted EBITDA for the year ended December 31, 2025 was $688 million, an increase of 10% compared to the prior year, reflective of higher revenue and gross profit and operating leverage in selling, general and administrative expenses and research and development expenses, partially offset by increased commercial investments. Diluted income per share for the year ended December 31, 2025 was $0.22 compared to diluted loss per share of $0.38 for the year ended December 31, 2024 due to the aforementioned factors as well as lower interest expense. Adjusted diluted EPS in the year ended December 31, 2025 was $0.83 compared to $0.58 for the year ended December 31, 2024.

The Company presents GAAP and adjusted (non-GAAP) quarterly and full-year results. Please refer to the “Non-GAAP Financial Measures” section and the accompanying GAAP to non-GAAP reconciliation tables for more information.

2026 Full Year Financial Guidance

 2026 Guidance2025 ActualsNet revenue (1)$3.05 billion - $3.15 billion$3.02 billionAdjusted EBITDA (2)$720 million - $760 million$688 millionAdjusted diluted EPS (3)$0.93 - $1.03$0.83Operating cash flow$325 million - $375 million$340 millionOperating cash flow, excluding discrete items (4)$350 million - $400 million$340 millionCapital expenditures (5)~$110 million$89 million    (1)The Company expects Affordable Medicines net revenue to grow 7% to 8%, Specialty net revenue to be flat year-over-year, and AvKARE to generate $625 million to $700 million net revenue.(2)Includes 100% of adjusted EBITDA from AvKARE. See also “Non-GAAP Financial Measures” below.(3)Accounts for 35% non-controlling interest in AvKARE. Assumes weighted-average diluted shares outstanding of ~330 million for the year ending December 31, 2026, compared to weighted-average diluted shares outstanding of 325 million for the year ended December 31, 2025. See also “Non-GAAP Financial Measures” below for assumptions used in the calculation of weighted-average diluted shares.(4)Excludes discrete items such as legal settlement payments.(5)Reflects actual purchases and deposits for future acquisition of property, plant, and equipment, net of contributions from an alliance party.   Amneal’s 2026 estimates are based on management’s current expectations, including with respect to prescription trends, pricing levels, the timing of future product launches, the costs incurred and benefits realized of restructuring activities, and our long-term strategy. The Company’s financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The Company cannot provide a reconciliation between non-GAAP projections and the most directly comparable measures in accordance with GAAP without unreasonable efforts because it is unable to predict with reasonable certainty the ultimate outcome of certain significant items required for the reconciliation. The items include, but are not limited to, acquisition-related expenses, restructuring expenses and benefits, asset impairments, legal settlements, and other gains and losses. These items are uncertain, depend on various factors, and could have a material impact on GAAP reported results.

Conference Call Information

Amneal will host a conference call and live webcast at 8:30 am Eastern Time today, February 27, 2026, to discuss its results. The live webcast and presentation will be accessible through the Investor Relations section of the Company’s website at https://investors.amneal.com. To access the call through a conference line, dial (833) 470-1428 (in the U.S.) with access code 937407. A replay of the conference call will be posted shortly after the call. For a list of toll-free international numbers, visit this website: https://www.netroadshow.com/events/global-numbers?confId=94630.

About Amneal

Amneal Pharmaceuticals, Inc. (Nasdaq: AMRX), headquartered in Bridgewater, New Jersey, is a diversified, global biopharmaceutical leader focused on expanding access to affordable and innovative medicines. Founded in 2002 by brothers and co-CEOs Chirag and Chintu Patel, Amneal was built on the belief that innovation only matters if it’s accessible. Today, Amneal has a diverse and growing portfolio of approximately 300 complex, specialty and biosimilar medicines, delivering over 160 million prescriptions each year, primarily in the United States. Our Affordable Medicines segment spans retail, injectable, and biosimilar products. Our Specialty segment provides branded treatments in neurology, including Parkinson’s disease and migraine, and endocrinology. Our AvKARE segment distributes pharmaceuticals and medical products to U.S. federal, retail, and institutional customers. For more information, visit www.amneal.com and follow us on LinkedIn.

Cautionary Statement on Forward-Looking Statements

Certain statements contained herein, regarding matters that are not historical facts, may be forward-looking statements (as defined in the U.S. Private Securities Litigation Reform Act of 1995). Such forward-looking statements include statements regarding management’s intentions, plans, beliefs, expectations, financial results, or forecasts for the future, including among other things: discussions of future operations; expected or estimated operating results and financial performance; statements regarding our positioning and potential growth, statements regarding our ability to create long-term value, and other non-historical statements. Words such as “plans,” “expects,” “will,” “anticipates,” “estimates,” and similar words, or the negatives thereof, are intended to identify estimates and forward-looking statements.

The reader is cautioned not to rely on these forward-looking statements. These forward-looking statements are based on current expectations of future events, including with respect to future market conditions, company performance and financial results, operational investments, business prospects, new strategies and growth initiatives, the competitive environment, and other events. If the underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of the Company.

Such risks and uncertainties include, but are not limited to: our ability to successfully develop, license, acquire and commercialize new products on a timely basis; the competition we face in the pharmaceutical industry from brand and generic drug product companies, and the impact of that competition on our ability to set prices; our ability to obtain exclusive marketing rights for our products; the impact of illegal distribution and sale by third parties of counterfeit versions of our products or stolen products; the impact of negative market perceptions of us and the safety and quality of our products; our revenues are derived from the sales of a limited number of products, a substantial portion of which are through a limited number of customers; the continuing trend of consolidation of certain customer groups; the impact of supply chain disruption; the imposition of tariffs may adversely affect our business, results of operations and financial condition; a U.S. government shutdown could adversely impact our regulatory, operational and financial performance; legal, regulatory and legislative efforts by our brand competitors to deter competition from our generic alternatives; our dependence on information technology systems and infrastructure and the potential for cybersecurity incidents, and risks associated with artificial intelligence; the impact of a prolonged business interruption within our supply chain; our ability to attract, hire and retain highly skilled personnel; risks related to federal regulation of arrangements between manufacturers of branded and generic products; our reliance on certain licenses to proprietary technologies from time to time; the significant amount of resources we expend on research and development; the risk of claims brought against us by third parties; risks related to changes in the regulatory environment, including U.S. federal and state laws related to government contracting, healthcare fraud abuse and health information privacy and security and changes in such laws; changes to Food and Drug Administration product approval requirements and review processes; the impact of healthcare reform and changes in coverage and reimbursement levels and funding by governmental authorities and other third-party payers; our ability to identify, make and integrate acquisitions or investments in complementary businesses and products on advantageous terms; our dependence on third-party agreements for a portion of our product offerings; our potential expansion into additional international markets subjecting us to increased regulatory, economic, social and political uncertainties; the impact of global economic, political or other catastrophic events; our substantial amount of indebtedness and our ability to generate sufficient cash to service our indebtedness in the future, and the impact of interest rate fluctuations on such indebtedness; our obligations under a tax receivable agreement may be significant; and the high concentration of ownership of our Class A common stock by the Amneal Group. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company’s filings with the Securities and Exchange Commission, including under Item 1A, “Risk Factors” in the Company’s most recent Annual Report on Form 10-K and in its subsequent reports on Forms 10-Q and 8-K. Investors are cautioned not to place undue reliance on any such forward-looking statements, which speak only as of the date they are made. Forward-looking statements included herein speak only as of the date hereof and we undertake no obligation to revise or update such statements to reflect the occurrence of events or circumstances after the date hereof.

Non-GAAP Financial Measures

This release includes certain non-GAAP financial measures, including EBITDA, adjusted EBITDA, adjusted net income, adjusted diluted EPS, adjusted operating cash flow and net leverage, which are intended as supplemental measures of the Company’s performance that are not required by or presented in accordance with GAAP.

Adjusted diluted EPS reflects diluted earnings per share based on adjusted net income (loss), which is net income (loss) adjusted to (A) exclude (i) non-cash interest, (ii) GAAP provision for income taxes, (iii) amortization, (iv) stock-based compensation expense, (v) acquisition, site closure expenses, and idle facility expenses, (vi) restructuring and other charges, (vii) loss on refinancing, (viii) charges (credit) related to certain legal matters, including interest, net, (ix) asset impairment charges, (x) increase in tax receivable agreement liability, (xi) other and (xii) net income attributable to non-controlling interests, and (B) include non-GAAP provision for income taxes. Non-GAAP adjusted diluted EPS for the three months and year ended December 31, 2025 and 2024 was calculated using the weighted average fully diluted shares outstanding of Class A common stock (inclusive of the effect of dilutive securities).

EBITDA reflects net income (loss) adjusted to exclude interest expense, net, provision for income taxes and depreciation and amortization. Adjusted EBITDA reflects net income (loss) adjusted to exclude (i) interest expense, net, (ii) provision for income taxes, (iii) depreciation and amortization, (iv) stock-based compensation expense, (v) acquisition, site closure, and idle facility expenses, (vi) restructuring and other charges, (vii) loss on refinancing, (viii) charges (credit) related to legal matters, net, (ix) asset impairment charges, (x) foreign exchange loss (gain), (xi) increase in tax receivable agreement liability, and (xii) other.

Adjusted operating cash flow reflects cash flow from operations excluding discrete items such as legal settlement payments.

Net leverage is calculated as net debt (total outstanding principal on the Company’s debt, less cash and cash equivalents) divided by adjusted EBITDA for the year or the trailing twelve-month period then ended.

Management uses these non-GAAP measures internally to evaluate and manage the Company’s operations and to better understand its business because they facilitate a comparative assessment of the Company’s operating performance relative to its performance based on results calculated under GAAP. These non-GAAP measures also isolate the effects of some items that vary from period to period without any correlation to core operating performance and eliminate certain charges that management believes do not reflect the Company’s operations and underlying operational performance. The compensation committee of the Company’s board of directors also uses certain of these measures to evaluate management’s performance and set its compensation. The Company believes that these non-GAAP measures also provide useful information to investors regarding certain financial and business trends relating to the Company’s financial condition and operating results facilitates an evaluation of the financial performance of the Company and its operations on a consistent basis. Providing this information therefore allows investors to make independent assessments of the Company’s financial performance, results of operations, cash flows, net leverage and trends while viewing the information through the eyes of management.

These non-GAAP measures are subject to limitations. The non-GAAP measures presented in this release may not be comparable to similarly titled measures used by other companies because other companies may not calculate one or more in the same manner. Additionally, the non-GAAP performance measures exclude significant expenses and income that are required by GAAP to be recorded in the Company’s financial statements; do not reflect changes in, or cash requirements for, working capital needs; and do not reflect interest expense, or the requirements necessary to service interest or principal payments on debt. Further, our historical adjusted results are not intended to project our adjusted results of operations or financial position for any future period. To compensate for these limitations, management presents and considers these non-GAAP measures in conjunction with the Company’s GAAP results; no non-GAAP measure should be considered in isolation from or as alternatives to any measure determined in accordance with GAAP. Readers should review the reconciliations included below and should not rely on any single financial measure to evaluate the Company’s business.

A reconciliation of each historical non-GAAP measure to the most directly comparable GAAP measure is set forth below.

Contact
Anthony DiMeo
VP, Investor Relations
[email protected]

    Amneal Pharmaceuticals, Inc.
Consolidated Statements of Operations
(unaudited; $ in thousands, except per share amounts)
     Three Months Ended
December 31, Year Ended
December 31, 2025 2024 2025 2024Net revenue$814,319  $730,518  $3,018,760  $2,793,957 Cost of goods sold 517,129   467,645   1,905,452   1,773,519 Gross profit 297,190   262,873   1,113,308   1,020,438 Selling, general and administrative 146,458   128,687   526,827   476,436 Research and development 34,819   54,265   186,175   190,714 Intellectual property legal development expenses 1,411   1,852   7,632   5,845 Restructuring and other charges 2,470   493   4,208   2,355 Charges (credit) related to legal matters, net —   1,783   (390)  96,692 Other operating income (1)  —   (5,240)  (930)Operating income 112,033   75,793   394,096   249,326 Other (expense) income:       Interest expense, net (56,237)  (61,662)  (241,091)  (258,595)Foreign exchange (loss) gain, net (1,437)  (7,661)  7,635   (6,846)Loss on refinancing —   —   (31,365)  — Increase in tax receivable agreement liability (12,289)  (23,961)  (6,588)  (50,680)Other income, net 13,165   2,172   16,522   11,782 Total other expense, net (56,798)  (91,112)  (254,887)  (304,339)Income (loss) before income taxes 55,235   (15,319)  139,209   (55,013)Provision for income taxes 5,662   5,423   11,276   18,863 Net income (loss) 49,573   (20,742)  127,933   (73,876)Less: Net income attributable to non-controlling interests (14,497)  (10,339)  (55,876)  (43,010)Net income (loss) attributable to Amneal Pharmaceuticals, Inc.$35,076  $(31,081) $72,057  $(116,886)        Net income (loss) per share attributable to Amneal Pharmaceuticals, Inc.’s Class A common stockholders:       Basic$0.11  $(0.10) $0.23  $(0.38)Diluted$0.11  $(0.10) $0.22  $(0.38)Weighted-average common shares outstanding:       Basic 314,462   309,850   313,367   308,978 Diluted 328,094   309,850   324,805   308,978                  Amneal Pharmaceuticals, Inc.
Condensed Consolidated Balance Sheets
(unaudited; $ in thousands)     December 31,
2025 December 31,
2024Assets   Current assets:   Cash and cash equivalents$282,029  $110,552 Restricted cash 28,842   7,868 Trade accounts receivable, net 895,143   775,731 Inventories 606,302   612,454 Prepaid expenses and other current assets 98,395   80,717 Related party receivables 470   484 Total current assets 1,911,181   1,587,806 Property, plant and equipment, net 442,950   424,908 Goodwill 595,470   597,436 Intangible assets, net 563,498   732,377 Operating lease right-of-use assets 38,832   31,388 Operating lease right-of-use assets - related party 15,216   10,964 Financing lease right-of-use assets 53,328   56,433 Other assets 57,805   60,133 Total assets$3,678,280  $3,501,445 Liabilities and Stockholders’ Deficiency   Current liabilities:   Accounts payable and accrued expenses$761,316  $735,450 Current portion of liabilities for legal matters 43,256   31,755 Revolving credit facility —   100,000 Current portion of long-term debt, net 6,761   224,213 Current portion of operating lease liabilities 8,668   9,435 Current portion of operating lease liabilities - related party 2,705   3,396 Current portion of financing lease liabilities 3,442   3,211 Related party payables - short term 55,485   22,311 Total current liabilities 881,633   1,129,771 Long-term debt, net 2,565,115   2,161,790 Operating lease liabilities 33,233   24,814 Operating lease liabilities - related party 14,195   9,391 Financing lease liabilities 54,927   56,889 Related party payable - long term 19,132   50,900 Liabilities for legal matters - long term 71,819   85,479 Other long-term liabilities 32,263   26,949 Total long-term liabilities 2,790,684   2,416,212 Redeemable non-controlling interests 77,292   64,974 Total stockholders’ deficiency (71,329)  (109,512)Total liabilities and stockholders’ deficiency$3,678,280  $3,501,445          Amneal Pharmaceuticals, Inc.
Consolidated Statements of Cash Flows
(unaudited; $ in thousands)   Years Ended December 31, 2025 2024Cash flows from operating activities:   Net income (loss)$127,933  $(73,876)Adjustments to reconcile net income (loss) to net cash provided by operating activities:   Depreciation and amortization 223,572   236,191 Unrealized foreign currency (gain) loss (7,453)  7,191 Amortization of debt issuance costs and discount 22,431   29,097 Reclassification of cash flow hedge 1,229   (26,205)Loss on refinancing 31,365   — Intangible asset impairment charges 22,784   920 Stock-based compensation 31,953   27,768 Inventory provision 85,962   96,558 Other operating charges and credits, net 4,732   1,523 Changes in assets and liabilities:   Trade accounts receivable, net (120,566)  (162,637)Inventories (87,026)  (130,530)Prepaid expenses, other current assets and other assets (19,163)  (959)Related party receivables (13)  482 Accounts payable, accrued expenses and other liabilities 21,321   235,135 Related party payables 931   54,441 Net cash provided by operating activities 339,992   295,099 Cash flows from investing activities:   Purchases of property, plant and equipment (70,063)  (51,924)Acquisition of intangible assets (15,514)  (14,650)Deposits for future acquisition of property, plant, and equipment (28,780)  (8,416)Proceeds from sale of property, plant, equipment and other 2,094   — Proceeds from sale of subsidiary —   11,994 Net cash used in investing activities (112,263)  (62,996)Cash flows from financing activities:   Proceeds from issuance of debt 2,694,750   — Payments of principal on debt, revolving credit facility, financing leases and other (2,811,508)  (188,918)Payments of deferred financing, refinancing costs and debt extinguishment costs (74,973)  (71)Borrowings on revolving credit facility 218,000   48,000 Proceeds from exercise of stock options 1,960   1,154 Employee payroll tax withholding on restricted stock unit and performance stock unit vesting (22,278)  (7,952)Tax and other distributions to non-controlling interests (43,848)  (19,804)Payment of principal on notes payable - related party —   (44,200)Proceeds from alliance party 6,367   — Net cash used in financing activities (31,530)  (211,791)Effect of foreign exchange rate on cash (1,680)  (999)Net increase in cash, cash equivalents, and restricted cash 194,519   19,313 Cash, cash equivalents, and restricted cash - beginning of period 118,420   99,107 Cash, cash equivalents, and restricted cash - end of period$312,939  $118,420 Cash and cash equivalents - end of period$282,029  $110,552 Restricted cash - end of period 28,842   7,868 Long-term restricted cash included in other assets - end of period 2,068   — Cash, cash equivalents, and restricted cash - end of period$312,939  $118,420          Amneal Pharmaceuticals, Inc.
Non-GAAP Reconciliations
(unaudited, $ in thousands)    Reconciliation of Net Income (Loss) to EBITDA and Adjusted EBITDA     Three Months Ended December 31, Year Ended December 31, 2025 2024 2025 2024Net income (loss)$49,573  $(20,742) $127,933  $(73,876)Adjusted to add:       Interest expense, net 56,237   61,662   241,091   258,595 Provision for income taxes 5,662   5,423   11,276   18,863 Depreciation and amortization 49,227   66,130   223,572   236,191 EBITDA (Non-GAAP)$160,699  $112,473  $603,872  $439,773 Adjusted to add (deduct):       Stock-based compensation expense 8,202   7,209   31,823   27,552 Acquisition, site closure, and idle facility expenses (1) 539   538   5,301   2,112 Restructuring and other charges 2,470   493   4,208   2,265 Loss on refinancing (2) —   —   31,365   — Charges (credit) related to legal matters, net (3) —   1,783   (390)  96,692 Asset impairment charges 134   176   23,022   1,372 Foreign exchange loss (gain) 1,437   7,661   (7,635)  6,846 Increase in tax receivable agreement liability 12,289   23,961   6,588   50,680 Other (4) (10,568)  963   (9,739)  150 Adjusted EBITDA (Non-GAAP)$175,202  $155,257  $688,415  $627,442                  Amneal Pharmaceuticals, Inc.
Non-GAAP Reconciliations
(unaudited, $ in thousands)
      Calculation of Net Debt and Net Leverage
       December 31, 2025
 December 31, 2024
Term Loan Due 2032$2,094,750  $— Senior Notes Due 2032 600,000   — Term Loan Due 2025 —   191,979 Term Loan Due 2028 —   2,292,856 Revolving credit facility —   100,000 Gross debt (5)$2,694,750  $2,584,835 Less: Cash and cash equivalents 282,029   110,552 Net debt (Non-GAAP) (6)$2,412,721  $2,474,283       Adjusted EBITDA (Non-GAAP) for the year ended$688,415  $627,442       Net leverage (Non-GAAP) (7)3.5x  3.9x        Amneal Pharmaceuticals, Inc.
Non-GAAP Reconciliations
(unaudited; $ in thousands, except per share amounts)    Reconciliation of Net Income (Loss) to Adjusted Net Income and Calculation of Adjusted Diluted Earnings per Share     Three Months Ended December 31, Year Ended December 31, 2025 2024 2025 2024Net income (loss)$49,573  $(20,742) $127,933  $(73,876)Adjusted to add (deduct):       Non-cash interest 6,625   183   23,533   1,735 GAAP provision for income taxes 5,662   5,423   11,276   18,863 Amortization 34,660   49,037   162,401   168,518 Stock-based compensation expense 8,202   7,209   31,823   27,552 Acquisition, site closure expenses, and idle facility expenses (1) 538   538   5,238   2,112 Restructuring and other charges 2,470   493   4,201   2,249 Loss on refinancing (2) —   —   31,365   — Charges (credit) related to legal matters, including interest, net (3) —   1,783   (390)  96,819 Asset impairment charges 134   176   23,022   1,372 Increase in tax receivable agreement liability 12,289   23,961   6,588   50,680 Other (4) (10,568)  964   (9,729)  150 Provision for income taxes (8) (26,792)  (18,262)  (92,514)  (66,278)Net income attributable to non-controlling interests (14,497)  (10,339)  (55,876)  (43,010)Adjusted net income (Non-GAAP)$68,296  $40,424  $268,871  $186,886 Weighted average diluted shares outstanding (Non-GAAP) (9) 328,094   324,099   324,805   320,645 Adjusted diluted earnings per share (Non-GAAP)$0.21  $0.12  $0.83  $0.58                  Amneal Pharmaceuticals, Inc.
Non-GAAP Reconciliations
(unaudited)  Explanations for Non-GAAP Reconciliations  (1)Acquisition, site closure, and idle facility expenses for the three months and year ended December 31, 2025 primarily included costs related to a planned facility closure and rent for vacated properties. Acquisition, site closure, and idle facility expenses for the three months and year ended December 31, 2024 primarily included rent for vacated properties.(2)For the year ended December 31, 2025, loss on refinancing was primarily comprised of debt issuance costs associated with the portion of the Term Loan Due 2028 that was modified as part of the Company’s debt refinancing on August 1, 2025. Refer to Note 5. below for additional information.(3)For the year ended December 31, 2024, charges related to legal matters, net were primarily associated with a settlement in principle on the primary financial terms for a nationwide resolution to the opioids cases that have been filed and that might have been filed against the Company by political subdivisions and Native American tribes across the United States.(4)For the three months and year ended December 31, 2025, the caption “other” primarily reflects a non-recurring, non-operating, non-cash gain. System implementation expense of $0.3 million, formerly included in its own caption in the non-GAAP reconciliations, for the three months ended December 31, 2024 has been reclassified to the caption “other” to conform to the current period presentation. System implementation expense of $2.4 million and change in the fair value of contingent consideration of ($0.9 million), formerly included in their own captions in the non-GAAP reconciliations, for the year ended December 31, 2024 have been reclassified to the caption “other” to conform to the current period presentation.(5)On August 1, 2025, the Company borrowed $2.1 billion under new seven-year term loans (the “Term Loan Due 2032”) pursuant to an amendment to the Term Loan Credit Agreement and completed a private offering of $600 million aggregate principal amount of 6.875% senior secured notes due 2032 at par (the “Senior Notes Due 2032”). The Company used the net proceeds of the Term Loan Due 2032 and the Senior Notes Due 2032 to refinance the Term Loan Due 2028 in full, to repay outstanding amounts borrowed under the revolving credit facility in full, and to pay related fees, premiums and expenses. Refer to Note 15. Debt in the Company’s 2024 Annual Report on Form 10-K for information about the Company’s debt as of December 31, 2024.(6)Net debt was calculated as the total outstanding principal on the Company’s debt less cash and cash equivalents.(7)Net leverage was calculated by dividing net debt as of December 31, 2025 and December 31, 2024 by adjusted EBITDA for the years ended December 31, 2025 and 2024, respectively.(8)The non-GAAP effective tax rates for the three months and year ended December 31, 2025 were 28.2% and 25.6%, respectively. The non-GAAP effective tax rates for the three months and year ended December 31, 2024 were 31.1% and 26.2%, respectively.(9)Weighted average diluted shares outstanding for the three months and year ended December 31, 2025 and 2024 consisted of fully diluted Class A common stock (inclusive of the effect of dilutive securities).   Amneal Pharmaceuticals, Inc.
Affordable Medicines Segment
Reconciliation of GAAP to Non-GAAP Operating Results (1)
(unaudited; $ in thousands)     Three Months Ended December 31, 2025 Three Months Ended December 31, 2024 As Reported Adjustments Non-GAAP As Reported Adjustments Non-GAAPNet revenue$436,650  $—  $436,650  $439,296  $—  $439,296 Cost of goods sold (2) 285,858   (11,288)  274,570   261,196   (11,595)  249,601 Gross profit 150,792   11,288   162,080   178,100   11,595   189,695 Gross margin % 34.5%    37.1%  40.5%    43.2%            Selling, general and administrative (3) 37,269   (2,472)  34,797   33,915   (1,909)  32,006 Research and development (4) 28,010   (671)  27,339   48,598   (674)  47,924 Intellectual property legal development expenses 1,320   —   1,320   1,907   —   1,907 Restructuring and other charges 2,198   (2,198)  —   —   —   — Charges related to legal matters, net —   —   —   1,783   (1,783)  — Other operating income (1)  —   (1)  —   —   — Operating income$81,996  $16,629  $98,625  $91,897  $15,961  $107,858  (1)Revenue, cost of goods sold, and gross profit from the sale of Amneal products by AvKARE were included in our Affordable Medicines segment.(2)Adjustments for the three months ended December 31, 2025 and 2024, respectively, were comprised of stock-based compensation expense ($0.9 million in each period), amortization expense ($10.4 million and $10.6 million), and asset impairment charges (none and $0.1 million).(3)Adjustments for the three months ended December 31, 2025 and 2024, respectively, were comprised of stock-based compensation expense ($1.8 million and $1.4 million), site closure costs ($0.5 million in each period), and asset impairment charges ($0.2 million and none).(4)Adjustments for the three months ended December 31, 2025 and 2024 were comprised of stock-based compensation expense.   Amneal Pharmaceuticals, Inc.
Affordable Medicines Segment
Reconciliation of GAAP to Non-GAAP Operating Results (1)
(unaudited; $ in thousands)
     Year Ended December 31, 2025 Year Ended December 31, 2024 As Reported Adjustments Non-GAAP As Reported Adjustments Non-GAAPNet revenue$1,745,524  $—  $1,745,524  $1,685,263  $—  $1,685,263 Cost of goods sold (2) 1,061,600   (45,409)  1,016,191   1,011,363   (46,718)  964,645 Gross profit 683,924   45,409   729,333   673,900   46,718   720,618 Gross margin % 39.2%    41.8%  40.0%    42.8%            Selling, general and administrative (3) 142,383   (8,812)  133,571   129,578   (7,160)  122,418 Research and development (4) 156,013   (2,816)  153,197   171,771   (2,587)  169,184 Intellectual property legal development expenses 7,389   —   7,389   5,685   —   5,685 Restructuring and other charges 2,971   (2,971)  —   70   (70)  — (Credit) charges related to legal matters, net (5) (390)  390   —   96,692   (96,692)  — Other operating income (5,240)  —   (5,240)  —   —   — Operating income$380,798  $59,618  $440,416  $270,104  $153,227  $423,331  (1)Revenue, cost of goods sold, and gross profit from the sale of Amneal products by AvKARE were included in our Affordable Medicines segment.(2)Adjustments for the years ended December 31, 2025 and 2024, respectively, were comprised of stock-based compensation expense ($3.8 million and $3.6 million), amortization expense ($40.9 million and $41.8 million), and asset impairment charges ($0.7 million and $1.3 million).(3)Adjustments for the years ended December 31, 2025 and 2024, respectively, were comprised of stock-based compensation expense ($6.5 million and $5.1 million), site closure expenses ($2.1 million in each period), and asset impairment charges ($0.2 million and none).(4)Adjustments for the years ended December 31, 2025 and 2024 were comprised of stock-based compensation expense.(5)Adjustment for the year ended December 31, 2024 was primarily associated with a settlement in principle on the primary financial terms for a nationwide resolution to the opioids cases that have been filed and that might have been filed against the Company by political subdivisions and Native American tribes across the United States.   Amneal Pharmaceuticals, Inc.
Specialty Segment
Reconciliation of GAAP to Non-GAAP Operating Results
(unaudited; $ in thousands)
     Three Months Ended December 31, 2025 Three Months Ended December 31, 2024 As Reported Adjustments Non-GAAP As Reported Adjustments Non-GAAPNet revenue$166,928  $—  $166,928  $120,836  $—  $120,836 Cost of goods sold (1) 63,229   (22,586)  40,643   59,537   (36,224)  23,313 Gross profit 103,699   22,586   126,285   61,299   36,224   97,523 Gross margin % 62.1%    75.7%  50.7%    80.7%            Selling, general and administrative (2) 40,843   (491)  40,352   30,129   (293)  29,836 Research and development (2) 6,809   (81)  6,728   5,667   (257)  5,410 Intellectual property legal development expenses 91   —   91   (55)  —   (55)Restructuring and other charges —   —   —   493   (493)  — Operating income$55,956  $23,158  $79,114  $25,065  $37,267  $62,332  (1)Adjustments for the three months ended December 31, 2025 and 2024 were comprised of amortization expense.(2)Adjustments for the three months ended December 31, 2025 and 2024 were comprised of stock-based compensation expense.   Amneal Pharmaceuticals, Inc.
Specialty Segment
Reconciliation of GAAP to Non-GAAP Operating Results
(unaudited; $ in thousands)
     Year Ended December 31, 2025 Year Ended December 31, 2024 As Reported Adjustments Non-GAAP As Reported Adjustments Non-GAAPNet revenue$528,508  $—  $528,508  $445,749  $—  $445,749 Cost of goods sold (1) 245,915   (136,713)  109,202   202,821   (117,573)  85,248 Gross profit 282,593   136,713   419,306   242,928   117,573   360,501 Gross margin % 53.5%    79.3%  54.5%    80.9%            Selling, general and administrative (2) 135,715   (1,812)  133,903   109,658   (1,048)  108,610 Research and development (3) 30,162   (3,511)  26,651   18,943   (1,058)  17,885 Intellectual property legal development expenses 243   —   243   160   —   160 Restructuring and other charges 471   (471)  —   1,517   (1,517)  — Other operating income —   —   —   (930)  930   — Operating income$116,002  $142,507  $258,509  $113,580  $120,266  $233,846  (1)Adjustments for the years ended December 31, 2025 and 2024, respectively, were comprised of amortization expense ($114.6 million and $117.6 million) and asset impairment charges ($22.1 million and none).(2)Adjustments for the years ended December 31, 2025 and 2024 were comprised of stock-based compensation expense.(3)Adjustments for the years ended December 31, 2025 and 2024, respectively, were comprised of stock-based compensation expense ($0.4 million and $1.1 million) and site closure costs ($3.1 million and none).   Amneal Pharmaceuticals, Inc.
AvKARE Segment
Reconciliation of GAAP to Non-GAAP Operating Results (1)
(unaudited; $ in thousands)
     Three Months Ended December 31, 2025 Three Months Ended December 31, 2024 As Reported Adjustments Non-GAAP As Reported Adjustments Non-GAAPNet revenue$210,741  $—  $210,741  $170,386  $—  $170,386 Cost of goods sold 168,042   —   168,042   146,912   —   146,912 Gross profit 42,699   —   42,699   23,474   —   23,474 Gross margin % 20.3%    20.3%  13.8%    13.8%            Selling, general and administrative (2) 17,169   (2,700)  14,469   16,015   (3,546)  12,469 Operating income$25,530  $2,700  $28,230  $7,459  $3,546  $11,005  (1)Revenue, cost of goods sold, and gross profit from the sale of Amneal products by AvKARE were included in our Affordable Medicines segment.(2)Adjustments for the three months ended December 31, 2025 and 2024 were comprised of amortization expense.   Amneal Pharmaceuticals, Inc.
AvKARE Segment
Reconciliation of GAAP to Non-GAAP Operating Results (1)
(unaudited; $ in thousands)
     Year Ended December 31, 2025 Year Ended December 31, 2024 As Reported Adjustments Non-GAAP As Reported Adjustments Non-GAAPNet revenue$744,728  $—  $744,728  $662,945  $—  $662,945 Cost of goods sold 597,937   —   597,937   559,335   —   559,335 Gross profit 146,791   —   146,791   103,610   —   103,610 Gross margin % 19.7%    19.7%  15.6%    15.6%            Selling, general and administrative (2) 63,176   (10,799)  52,377   60,709   (14,182)  46,527 Operating income$83,615  $10,799  $94,414  $42,901  $14,182  $57,083  (1) Revenue, cost of goods sold, and gross profit from the sale of Amneal products by AvKARE were included in our Affordable Medicines segment.(2) Adjustments for the years ended December 31, 2025 and 2024 were comprised of amortization expense.  

, /PRNewswire/ -- Escalade, Inc. (Nasdaq: ESCA, or the "Company"), a leading manufacturer and distributor of sporting goods and indoor/outdoor recreational equipment, today announced results for the fourth quarter and full year 2025.

FOURTH QUARTER 2025 RESULTS
(As compared to the fourth quarter 2024)

Net sales decreased 2.2% to $62.6 million Gross margin improved 280 basis points, to 27.7% Net income of $3.7 million, or $0.27 per diluted share vs. $2.7 million, or $0.19 per diluted share for 2024 EBITDA totaled $6.5 million, an increase of 9.3% Cash provided by operations of $14.9 million vs $12.3 million in 2024 Total debt decreased 27.9% and net leverage was 0.3x Increased quarterly dividend to $0.1525 per share FULL YEAR 2025 RESULTS
(As compared to full year 2024)

Net sales decreased 4.5% to $240.2 million Gross margin improved 219 basis points, to 26.9% Net income of $13.7 million, or $0.99 per diluted share vs. $13.0 million, or $0.93 per diluted share for 2024 EBITDA totaled $23.9 million, a decrease of 8.4% Cash provided by operations of $31.0 million vs. $36.0 million in 2024 For the fourth quarter ended December 31, 2025, Escalade reported net income of $3.7 million, or $0.27 per diluted share, versus net income of $2.7 million, or $0.19 per diluted share for the fourth quarter in 2024. Total net sales declined 2.2% on a year-over-year basis in the fourth quarter, primarily due to uneven consumer demand across the majority of the Company's product categories, partially offset by improved demand in the archery, billiards, and games categories.

Escalade reported fourth quarter gross margin of 27.7%, an increase of 280 basis points versus the prior-year quarter, driven by improved operational efficiencies from lower fixed costs and decreased inventory storage and handling costs.

Earnings before interest, taxes, depreciation, and amortization ("EBITDA") increased 9.3% to $6.5 million in the fourth quarter 2025, versus $5.9 million in the prior-year period. The increase in EBITDA compared to the fourth quarter of 2024 primarily reflects improved gross margins and the impact of the Gold Tip acquisition, partly offset by $0.5 million in non-recurring executive transition expenses.

During the fourth quarter of 2025, the Company generated $14.9 million of cash flow from operations, compared to $12.3 million in the prior-year period. Operating cash flow during the fourth quarter reflected seasonal reductions in inventory associated with the holiday selling season, combined with the Company's efforts to reduce its inventory on hand.

Total debt at the end of the quarter was $18.5 million, down 27.9% from $25.6 million at the end of the fourth quarter of last year.

As of December 31, 2025, the Company had total cash and cash equivalents of $11.9 million, together with $52.9 million of availability on its senior secured revolving credit facility maturing in 2027. At the end of the fourth quarter 2025, net debt (total debt less cash) was 0.3x trailing twelve-month EBITDA, down from 0.8x at the end of the fourth quarter of 2024.

Escalade announced a quarterly dividend of $0.1525 per share to be paid to all shareholders of record on April 6, 2026 and payable April 13, 2026.

MANAGEMENT COMMENTARY

"We concluded 2025 with strong margin performance, driven by disciplined operational execution across the business," said Patrick Griffin, Interim President and CEO of Escalade. "Fourth‑quarter margins reflect the cost structure improvements implemented over the last year. Importantly, demand across our higher‑value, premium brands remains resilient, and our diversified product portfolio continues to position us well to navigate an uncertain consumer environment."

Griffin continued, "As we enter 2026, we are shifting our focus to drive growth while maintaining the operational discipline that delivered our strong performance in 2025. During the fourth quarter we completed the acquisition of AllCornhole, further expanding our presence in a premium, fast‑growing category, and we acquired a 110,000 square foot facility to support growth in our safety and fitness categories. In addition, we completed the integration of the Gold Tip Archery acquisition, which closed in the third quarter and was immediately accretive during the fourth quarter."

"Our shift to focus on growth is supported by a strong balance sheet and a continued focus on capital efficiency," Griffin added. "In the fourth quarter, we improved our cash flow 21.2% and reduced our total debt by 27.9%, resulting in net leverage of 0.3x. Reflecting the confidence we have in the long‑term cash‑generation profile of the business, our Board has approved an increase in our quarterly dividend to $0.1525 per share. Looking ahead, we remain focused on driving working capital efficiencies and we intend to deploy our strong free cash flow toward organic growth investments, strategic M&A, continued debt reduction, and a disciplined return of capital to shareholders."

CONFERENCE CALL

A conference call will be held Friday, February 27, 2026, at 11:00 a.m. ET to review the Company's financial results, discuss recent events and conduct a question-and-answer session.

A webcast of the conference call and accompanying presentation materials will be available in the Investor Relations section of Escalade's website at www.escaladeinc.com.  To listen to a live broadcast, go to the site at least 15 minutes prior to the scheduled start time in order to register, download, and install any necessary audio software.

To participate in the live teleconference:

Domestic Live:

1-833-890-3250

International Live:

1-412-206-6441

To listen to a replay of the teleconference, which subsequently will be available through March 13, 2026:

Domestic Replay:

1-844-512-2921

International Replay:

1-412-317-6671

Conference ID:

10206528

USE OF NON-GAAP FINANCIAL MEASURES

In addition to disclosing financial statements in accordance with U.S. generally accepted accounting principles ("GAAP"), this release contains the non-GAAP financial measure known as "EBITDA." A reconciliation of this non-GAAP financial measure is contained at the end of this press release. EBITDA is a non-GAAP financial measure that Escalade uses to facilitate comparisons of operating performance across periods. Escalade believes the disclosure of EBITDA provides useful information to investors regarding its financial condition and results of operations. Non-GAAP measures should be viewed as a supplement to and not a substitute for the Company's U.S. GAAP measures of performance and the financial results calculated in accordance with U.S. GAAP and reconciliations from these results should be carefully evaluated. Non-GAAP measures have limitations as an analytical tool and should not be considered in isolation or in lieu of an analysis of the Company's results as reported under U.S. GAAP and should be evaluated only on a supplementary basis.

ABOUT ESCALADE

Founded in 1922, and headquartered in Evansville, Indiana, Escalade designs, manufactures, and sells sporting goods, fitness, and indoor/outdoor recreation equipment. Our mission is to connect family and friends, create lasting memories, and play life to the fullest. Leaders in our respective categories, Escalade's distinct and acclaimed brands include Goalrilla™ in-ground basketball hoops; STIGA® tennis tables and accessories; Bear® Archery and archery equipment; Brunswick Billiards® tables and accessories; Accudart® darting; ONIX® pickleball; Lifeline® fitness products; and RAVE Sports® water recreation products. Escalade's products are available online and through leading retailers nationwide. For more information about Escalade's diverse and prominent brand portfolio, history, financials, and governance, please visit www.escaladeinc.com.

INVESTOR RELATIONS CONTACT

Wesley Smith
Vice President, Financial Reporting & Investor Relations
812-467-1334

FORWARD-LOOKING STATEMENTS 

This report contains statements that we believe are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Rule 175 promulgated thereunder, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and Rule 3b-6 promulgated thereunder. All statements, other than statements of historical fact, are forward-looking statements. These statements relate to our financial condition, results of operations, plans, objectives, future performance, capital actions or business. They usually can be identified by the use of forward-looking language such as "will likely result," "may," "are expected to," "is anticipated," "potential," "estimate," "forecast," "projected," "intends to," or may include other similar words or phrases such as "believes," "plans," "trend," "objective," "continue," "remain," or similar expressions, or future or conditional verbs such as "will," "would," "should," "could," "might," "can," or similar verbs. You should not place undue reliance on these statements, as they are subject to risks and uncertainties. These risks include, but are not limited to: Escalade's ability to achieve its business objectives; Escalade's plans and expectations surrounding the transition to its new Chief Executive Officer and all potential related effects and consequences; Escalade's ability to successfully implement actions to lessen the potential impacts of tariffs, a potential trade war with China and other trade restrictions applicable to our products and raw materials, including impacts on the costs of producing our goods, importing products and materials into our markets for sale, and on the pricing of our products; our international operations, including any related to political uncertainty and geopolitical tensions; Escalade's ability to successfully achieve the anticipated results of strategic transactions, including the integration of the operations of acquired assets and businesses and of divestitures or discontinuances of certain operations, assets, brands, and products; the continuation and development of key customer, supplier, licensing and other business relationships; Escalade's ability to protect its intellectual property; Escalade's ability to develop and implement our own direct to consumer e-commerce distribution channel; the impact of competitive products and pricing; product demand and market acceptance; new product development; Escalade's ability to successfully negotiate the shifting retail environment and changes in consumer buying habits; the financial health of our customers; disruptions or delays in our business operations, including without limitation disruptions or delays in our supply chain, arising from political unrest, war, terrorist attacks, labor strikes, natural disasters, public health crises such as the coronavirus pandemic, and other events and circumstances beyond our control; the evaluation and implementation of remediation efforts designed and implemented to enhance the Company's control environment; the potential identification of one or more additional material weaknesses in the Company's internal control of which the Company is not currently aware or that have not yet been detected; Escalade's ability to control costs, including managing inventory levels; general economic conditions, including inflationary pressures; fluctuation in operating results; changes in foreign currency exchange rates; changes in the securities markets; continued listing of the Company's common stock on the NASDAQ Global Market; the Company's inclusion or exclusion from certain market indices; Escalade's ability to obtain financing, to maintain compliance with the terms of such financing and to manage debt levels; the availability, integration and effective operation of information systems and other technology, and the potential interruption of such systems or technology; the potential impact of actual or perceived defects in, or safety of, our products, including any impact of product recalls or legal or regulatory claims, proceedings or investigations involving our products; risks related to data security of privacy breaches; the potential impact of regulatory claims, proceedings or investigations involving our products; Escalade's use of estimates in its financial reporting as well as in its forward looking statements; and other risks detailed from time to time in Escalade's filings with the Securities and Exchange Commission. Escalade's future financial performance could differ materially from the expectations of management contained herein. Escalade undertakes no obligation to release revisions to these forward-looking statements after the date of this report.

Escalade, Incorporated and Subsidiaries

Consolidated Statements of Operations

(Unaudited, In Thousands Except Per Share Data)

Fourth Quarter Ended

Four Quarters Ended

All Amounts in Thousands Except Per Share Data

December 31,
2025

December 31,
2024

December 31,
2025

December 31,
2024

Net sales

$62,560

$63,942

$240,158

$251,510

Costs and Expenses

Cost of products sold

45,208

47,994

175,513

189,306

Selling, administrative and general expenses

11,608

10,864

43,626

43,303

Amortization

591

571

2,292

2,802

Gain on sale of assets held for sale

--

--

--

(3,905)

Operating Income

5,153

4,513

18,727

20,004

Other Income (Expense)

Interest expense

(175)

(307)

(836)

(2,302)

Other income (expense)

28

61

131

74

Income Before Income Taxes

5,006

4,267

18,022

17,776

Provision for Income Taxes

1,303

1,567

4,321

4,790

Net Income

$3,703

$2,700

$13,701

$12,986

Earnings Per Share Data:

Basic earnings per share

$ 0.27

$ 0.20

$ 1.00

$ 0.94

Diluted earnings per share

$ 0.27

$ 0.19

$ 0.99

$ 0.93

Dividends declared

$ 0.15

$ 0.15

$ 0.60

$ 0.60

Consolidated Balance Sheets(Unaudited, In Thousands)

All Amounts in Thousands Except Share Information

December 31,

2025

December 31,

2024

ASSETS

Current Assets:

          Cash and cash equivalents

$11,878

$ 4,194

          Receivables, less allowance for credit losses of $1,226 and $694; respectively

46,315

48,768

          Inventories

68,474

76,025

          Prepaid expenses

3,351

4,372

          Prepaid income tax

557

465

    TOTAL CURRENT ASSETS

130,575

133,824

Property, plant and equipment, net

22,355

22,221

Operating lease right-of-use assets

1,276

1,186

Intangible assets, net

25,445

25,838

Goodwill

42,326

42,326

Other assets

132

935

    TOTAL ASSETS

$222,109

$226,330

LIABILITIES AND STOCKHOLDERS' EQUITY

      Current liabilities:

          Current portion of long-term debt

$  7,143

$  7,143

          Trade accounts payable

9,150

11,858

          Accrued liabilities

13,680

15,050

          Current operating lease liabilities

510

444

      TOTAL CURRENT LIABILITIES

30,483

34,495

     Long-term debt

11,309

18,452

     Deferred income tax liability, net

6,303

3,302

     Operating lease liabilities

798

787

     Other liabilities

--

297

  TOTAL LIABILITIES

48,893

57,333

     Commitments and contingencies

--

--

     Stockholders' equity:

          Preferred stock

               Authorized:  1,000,000 shares, no par value, none issued

--

--

          Common stock

               Authorized:  30,000,000 shares, no par value

               Issued and outstanding: 2025 —13,696,311 shares, 2024 —13,732,719 shares

3,013

4,218

          Retained earnings

170,203

164,779

TOTAL STOCKHOLDERS' EQUITY

173,216

168,997

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY

$222,109

$226,330

Consolidated Statements of Cash Flows(Unaudited, In Thousands)

Years Ended

All Amounts in Thousands

December 31,

2025

December 31,

2024

Operating Activities:

     Net Income

$   13,701

$   12,986

     Reconciling adjustments:

          Depreciation and amortization

5,063

6,041

          Allowance for credit losses

983

747

          Stock option and restricted stock unit expense

1,651

1,932

          Issuance of common stock for service

242

--

          Deferred income taxes

3,001

177

          Loss (gain) on disposals of assets

7

(3,651)

          Changes in

               Accounts receivable

1,469

470

               Inventories

7,551

16,437

               Prepaids and other assets

1,732

(1,724)

               Accounts payable and accrued expenses

(4,386)

2,634

                  Net cash provided by operating activities

31,014

36,049

Investing Activities:

     Purchase of property and equipment

(2,512)

(2,038)

     Acquisitions

(2,300)

--

     Proceeds from sale of property and equipment

--

5,967

               Net cash (used in) provided by investing activities

(4,812)

3,929

Financing Activities:

     Dividends paid

(8,277)

(8,306)

     Proceeds from issuance of long-term debt

26,208

114,785

     Payments on long-term debt

(33,351)

(140,085)

     Purchase of stock

(3,098)

(2,194)

               Net cash used in financing activities

(18,518)

(35,800)

Increase in Cash and Cash Equivalents

7,684

4,178

Cash and Cash Equivalents, beginning of year

4,194

16

 Cash and Cash Equivalents, end of year 

$11,878

$4,194

Supplemental Cash Flows Information

     Interest paid

$  812

$  2,231

     Income taxes paid, net

$  1,708

$  4,989

Reconciliation of GAAP Net Income to Non-GAAP EBITDA

(Unaudited, In Thousands)

Fourth Quarter Ended

Four Quarters Ended

All Amounts in Thousands

December 31,
2025

December 31,
2024

December 31,
2025

December 31,
2024

Net Income (GAAP)

$3,703

$2,700

$13,701

$12,986

     Interest expense

175

307

836

2,302

     Income tax expense

1,303

1,567

4,321

4,790

     Depreciation and amortization

1,296

1,350

5,063

6,041

EBITDA (Non-GAAP)

$6,477

$5,924

$23,921

$26,119

SOURCE Escalade, Incorporated

A view of an office building of German airline Lufthansa in Frankfurt, Germany March 14, 2019. REUTERS/Ralph Orlowski/File Photo Purchase Licensing Rights, opens new tab

BERLIN, Feb 27 (Reuters) - Munich Airport and Lufthansa (LHAG.DE), opens new tab on Friday vowed to revamp emergency protocols following the stranding of around 600 passengers on six planes during a snowstorm last week.

"We, Munich Airport and Lufthansa, made mistakes that night and together we take responsibility," Lufthansa's Hub Manager for the Munich Airport Heiko Reitz said at a joint press conference in Munich.

Make sense of the latest ESG trends affecting companies and governments with the Reuters Sustainable Switch newsletter. Sign up here.

The airport and airline apologised for what they deemed an "unacceptable" incident and announced new measures to prevent a recurrence.

Operational shortfalls on Feb. 19, including lack of terminal space, stretched bus capacity, and staff shortages amid a strict night curfew, were cited as key factors that delayed passenger transfer.

Passengers spent hours aboard aircrafts with limited food or blankets, facing sparse updates from crews. Lufthansa said it began contacting affected travellers the following day to handle compensation claims.

The response drew criticism from pilot and firefighter unions, while local politicians demanded accountability, warning the event could harm Munich's reputation as a transit hub.

Lufthansa and Munich Airport pledged to improve coordination and readiness in future disruptions.

Reporting by Christina Amann, Kirsti Knolle Editing by Linda Pasquini

Our Standards: The Thomson Reuters Trust Principles., opens new tab

By Reuters

February 27, 202611:09 AM UTCUpdated 9 mins ago

A sign marks the offices of Moderna in Cambridge, Massachusetts, U.S., July 22, 2025. REUTERS/Brian Snyder Purchase Licensing Rights, opens new tab

CompaniesFeb 27 (Reuters) - Europe's medicines regulator on Friday recommended granting marketing authorisation to mCombriax, making Moderna's (MRNA.O), opens new tab messenger RNA vaccine the world's first combined shot for people aged 50 and older against COVID and seasonal influenza in a single dose.

Keep up with the latest medical breakthroughs and healthcare trends with the Reuters Health Rounds newsletter. Sign up here.

Reporting by Sri Hari N S in Bengaluru; Editing by Vijay Kishore

Our Standards: The Thomson Reuters Trust Principles., opens new tab

ToplineParamount Skydance’s shares surged sharply in premarket trading on Friday after it emerged as the winner of a months-long bidding war to acquire rival Warner Bros. Discovery, as Netflix stock also saw a big bump as the streamer’s investors cheered its decision to walk away and not raise its earlier $83 billion offer to acquire Warner’s studio and streaming arms.

Paramount shares surged in premarket trading on Friday morning as it emerged as the winner of a months long bidding war for Warner Bros Discovery.

NurPhoto via Getty Images

Key FactsIn premarket trading earlier on Friday, Paramount Skydance’s share price surged nearly 9.5% to $12.24, after rising more than 10% on Thursday.

Netflix’s shares rose nearly 7.2% in premarket trading to $90.68 after ending Thursday with a 2.3% bump.

According to Bloomberg, Netflix’s investors are relieved by the company’s decision to walk away from the bidding war, which they feared would have resulted in the streaming giant overpaying for Warner’s studio and streaming businesses.

The bidding war, which Netflix was leading with its $83 billion offer, had weighed on the streaming company’s stock price, which is down more than 31% in the past six months and nearly 23% since the original deal was first announced.

By walking away from the bidding war, Netflix will also receive a $2.8 billion breakup fee, which will be paid by Paramount.

The bidding war has also weighed on Paramount Skydance’s stock, which is down more than $40% since the start of October.

TangentWith the bidding war for its assets now over, Warner Bros Discovery’s shares were down more than 2% in early trading on Friday, slipping to $28.20. Paramount’s bid, which Warner deemed as superior to Netflix’s, offers $31 per share of the media conglomerate’s entire business—including its studios, streaming platform and TV networks. The deal values Warner Bros. Discovery at $111 billion.

Crucial QuoteWhile announcing its decision not to raise its bid for Warner’s properties, Netflix touted its financial discipline and said, “the price required to match Paramount Skydance's latest offer, the deal is no longer financially attractive.” The company’s statement added: “This transaction was always a ‘nice to have’ at the right price, not a ‘must have’ at any price.”

What To Watch For With a Warner acquisition no longer in the pipeline, Netflix has said it plans to invest “approximately $20 billion in quality films and series and will expand our entertainment offering.” The company also announced it will resume its share buyback program.

Further ReadingParamount Poised To Acquire Warner Bros. After Netflix Refuses To Match New Bid (Forbes)

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Dell's top line is booming, and it has AI to thank. Michel Porro/Getty Images 2026-02-27T11:13:15.916Z

Dell reported record annual revenue of $113.5 billion in its latest financial year. Dell's server and storage business surged 40% and it projected that server sales would double in 2027. Tech giants like Nvidia and Meta have also reported strong annual results tied to the AI boom. Dell is the latest company to get a massive windfall from the AI boom.

The tech company reported record annual revenue of $113.5 billion on Thursday, up 19% in its financial year ending January 30.

Jeff Clarke, Dell's vice chairman and chief operating officer, said it had been "a defining year for the company" in an earnings call on Thursday.

Annual revenue in the company's Infrastructure Solutions Group (ISG), which sells servers and storage infrastructure, was up 40% across the financial year, and Dell projected sales would continue to surge in 2027.

The Texas-based company said it expected AI-optimized server sales to grow 103% and deliver $50 billion in revenue in the current financial year.

Dell's shares were up more than 10% in premarket trading on Friday morning as investors cheered the blockbuster results.

A recent slew of similarly strong earnings results from industry leaders like Nvidia and Meta have helped calm investors' fears of an impending "AI bubble."

"The AI opportunity is meaningfully growing and transforming the company," said Clarke in a press release.

"We closed more than $64 billion in AI optimized server orders, shipped more than $25 billion throughout the year, and are entering FY27 with record backlog of $43 billion — powerful proof that our engineering leadership and differentiated AI solutions are winning," said Clarke.

Alongside competitors like HP and Lenovo, Dell raised product prices across both its divisions in December amid industry-wide shortages of key storage and memory components that power AI.

The increases led to some "sticker shock" for Dell's servers and storage customers, Clarke said on the call. However, they quickly grasped "the gravity of the situation," and the "most sophisticated customers in the world began to move aggressively to protect their infrastructure build outs," he said.

Dell's business is split into two key divisions: the Infrastructure Solutions Group (ISG), which sells storage and servers, and the Client Solutions Group (CSG), which sells PC and other hardware.

While Dell's AI business is booming, its traditional PC line has been struggling. In July, Clarke announced he would take on "day-to-day leadership" of the CSG division to "help accelerate decision-making and build momentum.'

In the 2026 financial year, annual revenue in CSG grew by 5% — an increase compared to last year, when revenue in the division declined by 1%.

2026 was "a defining year" for Dell, said Jeff Clarke, the company's vice chairman and chief operating officer. Kevork Djansezian/Getty Images As Dell positions itself for the future, it has been reshaping operations across the board, from headcount to the tools employees use.

The changes have included a 25,000 reduction in staff numbers, in the last two years — an almost 20% drop, RTO mandates, and significant changes to how sales staff earn commission, as Business Insider reported exclusively in February.

Dell is also preparing for a major overhaul of its internal systems in May, which it told staff will be the "biggest transformation in company history," according to an internal memo seen by Business Insider in January.

The goal is to modernize and standardize the underlying infrastructure that Dell runs on to help prepare it for the AI future.

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