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NEW YORK, Feb. 24, 2026 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against Endeavor Group Holdings, Inc. (“Endeavor” or the “Company”) (NYSE: EDR). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased. 

The class action concerns whether Endeavor and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

You have until March 18, 2026, to ask the Court to appoint you as Lead Plaintiff for the class if you sold Endeavor Class A common stock during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.   

[Click here for information about joining the class action]  

A Complaint has been filed on behalf of a class consisting of all investors who sold Endeavor Class A common stock between January 15, 2025 and March 24, 2025, against Endeavor, certain of its officers and directors, and Silver Lake Group, L.L.C. (together, the “Defendants”).  The Complaint alleges that the Defendants orchestrated a unified scheme to depress minority bargaining power and the value realizable by the unaffiliated public shareholders, while insiders captured future upside through rollovers and separate benefits.  Defendants allegedly orchestrated this scheme by, among other things: (i) rejecting a “majority of the minority” vote on the merger and closing by controller written consent; (ii) locking-in a $27.50 cash-out merger consideration without any collar or contingent value right and offering only a de minimis dividend to shareholders that they shared with themselves; and (iii) disseminating a misleading Information Statement on January 15, 2025 that spoke in present tense about “fairness” and “best interests” to unaffiliated shareholders while relying on Centerview Partners, LLC’s fairness opinion with analysis frozen “as of” March 2024 and omitting material contemporaneous information needed to render those assertions not misleading.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com. 

Attorney advertising. Prior results do not guarantee similar outcomes.  

CONTACT: 
Danielle Peyton 
Pomerantz LLP 
[email protected] 
646-581-9980 ext. 7980 

Delta, British Columbia--(Newsfile Corp. - February 24, 2026) - Fab-Form Industries Ltd. (TSXV: FBF) ("Fab-Form®", or the "Company"), a leading innovator in sustainable concrete forming solutions, today announced the application of a new USA design patent for its advanced concrete sub-slab panel, "FLEX-RTM". Engineered to address growing demands for energy-efficient and health-conscious building practices, the panel reduces heat loss, prevents moisture intrusion, and facilitates passive radon venting, all in a single product.

"This new design represents a significant leap forward in our commitment to 'Taming the Ground' through innovative, sustainable products," said Richard Fearn, Chief Technology Officer of Fab-Form Industries Ltd. "By blending form and function, we're not only helping builders meet stringent building codes for energy efficiency and indoor air quality but also eliminate the challenges of uneven ground."

FLEX-R™ is an innovative concrete sub-slab panel that simultaneously fulfills seven important functions for the building industry: Provides insulation capacity of R12 (or as required by local code), Hex-panels™ automatically adapt to uneven ground, up to ½" per 12" length, provides the damp proof membrane for the slab, has double sided tape on two sides to quickly seal the membrane together, provides radon protection as per the building code, provides an air barrier as per the building code and facilitates radon gas removal.

This further eliminates the possibility of slab settlement and cracks due to gaps between the rigid insulation and ground, reduces installation labour by up to 70%, double sided tape enables rapid installation of the vapour barrier at the same time as the panels, Hexagonal gaps in the EPS facilitate radon gas evacuation, and Vapour barrier prevents radon gas infiltration into the building.

"Site labour is so expensive," said Joey Fearn, Chief Executive Officer. "Flex-RTM minimizes the labour required to install sub-slab insulation and a vapor barrier at the same time."

FLEX-R Intellectual Property

United States Patent

On the 27th of May 2025, Fab-Form applied for a US patent entitled: "APPARATUS FOR UNDER-SLAB INSULATION, RADON CONTROL AND DAMP-PROOFING". Refer link for more information - https://fab-form.com/en/investor/new-patents.

Abstract of the Disclosure

There is provided an apparatus for under-slab insulation, radon control and damp-proofing. The apparatus includes an insulation body having a first plurality of longitudinally extending and laterally spaced-apart elongate grooves, and a second plurality 5 of laterally extending and longitudinally spaced-apart elongate grooves intersecting with the first plurality of elongate grooves. Each groove extends from a bottom towards a top of the insulation body. The apparatus includes a vapor barrier coupled to the top and/or bottom of the insulation body. The grooves in the insulation body facilitate angular deflection of 10 adjacent lower portions of the insulation body while inhibiting airflow and heat transfer therethrough. The insulation body includes an upper portion above the grooves thereof, with each groove having an opening or width that is equal to or less than the thickness of the upper portion of the insulation body. Each groove has a depth-to-width ratio of equal to or greater than 5. Figure 1 and Figure 2.

Figure 1 and Figure 2

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Canadian Patent

On the 20th of October 2025, Fab-Form purchased the right, title and interest in Canadian patent 3,029,299 from Jonathan Kowalchuk, an innovative concrete contractor, shown in this picture (Figure 3). The patent, entitled: "VADIR BARRIER: A CONCRETE SLAB UNDERLAYMENT WITH ALL-IN-ONE VOID FORM, AIR BARRIER, DRAINAGE PLANE, INSULATION AND RADON PROTECTION", was issued 28th January 2020.

We commend Jonathan's efforts in improving concrete construction with his invention. As they say, great minds think alike.

Figure 3 - Jonathan Kowalchuk 

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 Trademark

Applied for Flex-R trademarks in United States and Canada, in January 2026.

The Company will continue to update its stakeholders and the public on the progress of the patent application and the product's development.

About Fab-Form®

Fab-Form Industries Ltd ("Fab-Form®") is a leading eco-friendly concrete forming products manufacturer located in Vancouver, BC Canada. Since its inception in 1986, the Company has invented, developed, and commercialized foundation products that are greener and more sustainable for the building industry.

The Company has traded on the TSX Venture Exchange ("TSXV" under the symbol FBF) since 2000.

Forward-Looking Statements

Some statements contained in this news release constitute "forward-looking statements" as is defined in applicable securities laws. These statements include, without limitation, the success of developing, manufacturing, and distributing new products and other similar statements concerning anticipated future events, conditions, or results that are not historical in nature, and reflect management's current estimates, beliefs, intentions, and expectations. These statements are not guaranteeing future performance. The Company cautions that all forward-looking information is inherently uncertain, and that actual performance may be affected by several material factors, many of which are beyond the Company's control. Such factors include, among others, risks and uncertainties relating to product development; the ability of the Company to obtain additional financing; the Company's limited operating history; the need to comply with environmental and governmental regulations; potential defects in product performance; fluctuations in currency exchange rates; fluctuating prices of commodities; operating hazards and risks; competition; the uncertainty of capturing market share and other risks and uncertainties. Accordingly, actual future events, conditions, and results may differ materially from the estimates, beliefs, intentions, and expectations expressed or implied in the forward-looking information. These statements are made as of the Report Date and, except as required by law, the Company is under no obligation to update or alter any forward-looking information.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts 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/285176

Source: Fab-Form Industries Ltd.

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NEW YORK, Feb. 24, 2026 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against China Liberal Education Holdings Limited (“CLEU” or the “Company”) (OTCMKTS: CLEUF). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased. 

The class action concerns whether CLEU and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

You have until March 31, 2026, to ask the Court to appoint you as Lead Plaintiff for the class if you purchased or otherwise acquired CLEU securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com. 

[Click here for information about joining the class action]

A complaint has been filed, alleging that, in January 2025, individuals impersonating investment advisors on social media apps fraudulently influenced investors to purchase shares of CLEU stock, artificially “pumping” the price of CLEU stock. 

On January 30, 2025, the stock price suddenly plummeted, causing many investors to lose nearly all of the funds they had invested in these shares. 

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com. 

Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT: 
Danielle Peyton 
Pomerantz LLP 
[email protected] 
646-581-9980 ext. 7980

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CINCINNATI--(BUSINESS WIRE)--Fifth Third Bancorp (Nasdaq: FITB) will participate in the 2026 RBC Capital Markets Financial Institutions Conference on March 11, 2026, at approximately 11:20 AM ET. Bryan Preston, executive vice president and chief financial officer, and Kevin Khanna, executive vice president and head of commercial bank, will represent the Company.

Audio webcast and any presentation slides may be viewed live and for approximately 14 days after the conference through the Investor Relations section of www.53.com. Additionally, any slides used in the presentation will be made available in a printer-friendly format on the Company’s website.

About Fifth Third Bancorp

Fifth Third is a bank that’s as long on innovation as it is on history. Since 1858, we’ve been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it’s one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people, and focused community impact. Fifth Third is one of the few U.S.-based banks to have been named among Ethisphere's World’s Most Ethical Companies® for several years. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation’s highest performing regional bank, but to be the bank people most value and trust.

Fifth Third Bank, National Association is a federally chartered institution. Fifth Third Bancorp is the indirect parent company of Fifth Third Bank and its common stock is traded on the NASDAQ® Global Select Market under the symbol “FITB.” Investor information and press releases can be viewed at www.53.com.

Category: Conferences

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Westlake Corporation (WLK) Q4 2025 Earnings Call Transcript

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Significant Losses In Rezolute To Contact Him Directly To Discuss Their Options

If you suffered significant losses in Rezolute stock or options and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

[You may also click here for additional information]

New York, New York--(Newsfile Corp. - February 24, 2026) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Rezolute, Inc. ("Rezolute" or the "Company") (NASDAQ: RZLT).

Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.

Rezolute, Inc. shares tumbled sharply on December 11, 2025, as investors reacted to disappointing topline results from its Phase 3 sunRIZE clinical trial for ersodetug, its lead drug candidate for treating congenital hyperinsulinism. The study failed to meet both its primary and key secondary endpoints, with the highest dose showing reductions in hypoglycemia events that were not statistically significant versus placebo.

During intraday trading, RZLT collapsed from levels near its prior day close of around $10.94 to an intraday low near $0.90, representing an approximate 85-90% drop as markets opened and halted trading under Nasdaq's volatility controls.

To learn more about the Rezolute investigation, go to www.faruqilaw.com/RZLT or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

Follow us for updates on LinkedIn, on X, or on Facebook.

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/285145

Source: Faruqi & Faruqi LLP

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New York, New York--(Newsfile Corp. - February 24, 2026) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of CoreWeave, Inc. (NASDAQ: CRWV) between March 28, 2025 and December 15, 2025, both dates inclusive (the "Class Period"), of the important March 13, 2026 lead plaintiff deadline.

SO WHAT: If you purchased CoreWeave securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the CoreWeave class action, go to https://rosenlegal.com/submit-form/?case_id=50571 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than March 13, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved, at that time, the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) defendants had overstated CoreWeave's ability to meet customer demand for its service; (2) defendants materially understated the scope and severity of the risk that CoreWeave's reliance on a single third-party data center supplier presented for CoreWeave's ability to meet customer demand for its services; (3) the foregoing was reasonably likely to have a material negative impact on CoreWeave's revenue; (4) as a result, CoreWeave's public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the CoreWeave class action, go to https://rosenlegal.com/submit-form/?case_id=50571 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

-------------------------------

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/285131

Source: The Rosen Law Firm PA

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NEW YORK--(BUSINESS WIRE)--BNY Mellon ETF Investment Adviser, LLC announced today that the Board of Trustees of BNY Mellon ETF Trust has approved a change in the frequency of income dividend distributions by BNY Mellon Emerging Markets Equity ETF (NYSE Arca: BKEM) from quarterly to semi-annually. Income dividend distributions, if any, for the fund will generally be distributed to shareholders semi-annually, but may vary significantly from period to period. Net capital gains for the fund will continue to be distributed at least annually. Dividends may be declared and paid more frequently or at any other time to improve index tracking or to comply with the distribution requirements of the Internal Revenue Code of 1986, as amended.

Important Information

BNY Mellon ETF Investment Adviser, LLC, the investment adviser for BKEM, is part of BNY Investments. BNY Investments is one of the world’s largest asset managers, with $2.2 trillion in assets under management as of December 31, 2025. Through a client-first approach, BNY Investments brings investors specialist expertise through its seven investment firms offering solutions across every major asset class and backed by the breadth and scale of BNY. Additional information on BNY Investments is available on www.bny.com/investments. Follow us on LinkedIn for the latest company news and activity.

BNY Investments is a division of BNY, which has $59.3 trillion in assets under custody and/or administration as of December 31, 2025. Established in 1784, BNY Is America's oldest bank. Today, BNY powers capital around the world through comprehensive solutions that help clients manage and service their financial assets throughout the investment life cycle. BNY is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bny.com. Follow us on LinkedIn or visit our newsroom at newsroom for the latest company news.

This release is for informational purposes only and should not be considered as investment advice or a recommendation of any particular security.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy any security. Investors should consider the investment objectives, risks, charges and expenses of a fund carefully before investing. To obtain a prospectus, or a summary prospectus, if available, that contains this and other information about a fund, contact your financial professional or visit bny.com/investments. Please read the prospectus carefully before investing.

ETFs trade like stocks, are subject to investment risk, including possible loss of principal. The risks of investing in an ETF typically reflect the risks associated with the types of instruments in which the ETF invests. Diversification cannot assure a profit or protect against loss.

ETF shares are listed on an exchange, and shares are generally purchased and sold in the secondary market at market price. At times, the market price may be at a premium or discount to the ETF's per share NAV. In addition, ETFs are subject to the risk that an active trading market for an ETF's shares may not develop or be maintained. Buying or selling ETF shares on an exchange may require the payment of brokerage commissions.

ETFs issue (or redeem) fund shares to certain institutional investors known as “Authorized Participants” (typically market makers or other broker-dealers) only in large blocks of fund shares known as “Creation Units.” BNY Mellon Securities Corporation ("BNYMSC"), a subsidiary of BNY, serves as distributor of the fund. BNYMSC does not distribute fund shares in less than Creation Units, nor does it maintain a secondary market in fund shares. BNYMSC may enter into selected agreements with Authorized Participants for the sale of Creation Units of fund shares.

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February 24, 2026 17:10 ET  | Source: Brady Corporation

MILWAUKEE, Feb. 24, 2026 (GLOBE NEWSWIRE) -- On February 24, 2026, Brady Corporation’s (NYSE: BRC) Board of Directors declared a dividend to shareholders of the company’s Class A Common Stock of $0.245 per share, payable on April 30, 2026, to shareholders of record at the close of business on April 9, 2026.

Brady Corporation is an international manufacturer and marketer of complete solutions that identify and protect people, products and places. Brady’s products help customers increase safety, security, productivity and performance and include high-performance labels, signs, safety devices, printing systems and software. Founded in 1914, the Company has a diverse customer base in electronics, telecommunications, manufacturing, electrical, construction, medical, aerospace and a variety of other industries. Brady is headquartered in Milwaukee, Wisconsin and as of July 31, 2025, employed approximately 6,400 people in its worldwide businesses. Brady’s fiscal 2025 sales were approximately $1.51 billion. Brady stock trades on the New York Stock Exchange under the symbol BRC. More information is available on the Internet at www.bradyid.com.

For More Information Contact:
Investor Contact: Ann Thornton (414) 438-6887
Media Contact: Kate Venne (414) 438-5176

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In Kyndryl To Contact Him Directly To Discuss Their Options

If you purchased or acquired securities in Kyndryl between August 7, 2024 and February 9, 2026 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

[You may also click here for additional information]

New York, New York--(Newsfile Corp. - February 24, 2026) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Kyndryl Holdings, Inc. ("Kyndryl" or the "Company") (NYSE: KD) and reminds investors of the April 13, 2026 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.

As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) manufacturing for Inovio's CELLECTRA device was deficient; (2) accordingly, Inovio was unlikely to submit the INO-3107 BLA to the FDA by the second half of 2024; (3) Inovio had insufficient information to justify the INO-3107 BLA's eligibility for FDA accelerated approval or priority review; (4) accordingly, INO-3107's overall regulatory and commercial prospects were overstated; and (5) as a result, Defendants' public statements were materially false and misleading at all relevant times.

On December 29, 2025, the U.S. Food and Drug Administration ("FDA") announced it had accepted Inovio's Biologics License Application ("BLA") for INO-3107, a treatment for recurrent respiratory papillomatosis, on a standard review timeline. Inovio filed its BLA under the accelerated approval pathway, but the FDA stated that the Company did not submit adequate information to justify eligibility for accelerated approval. Inovio also announced it does not currently plan to seek approval under the standard review timeline, and will request a meeting with the FDA to discuss how it may still pursue accelerated approval.

On this news, Inovio's stock price fell $0.56 per share, or 24.45%, to close at $1.73 per share on December 29, 2025.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.

Faruqi & Faruqi, LLP also encourages anyone with information regarding Kyndryl's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

To learn more about the Kyndryl class action, go to www.faruqilaw.com/KD or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

Follow us for updates on LinkedIn, on X, or on Facebook.

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/285107

Source: Faruqi & Faruqi LLP

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Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Significant Losses In Wealthfront To Contact Him Directly To Discuss Their Options

If you suffered significant losses in Wealthfront stock or options and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

[You may also click here for additional information]

New York, New York--(Newsfile Corp. - February 24, 2026) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Wealthfront Corporation ("Wealthfront" or the "Company") (NASDAQ: WLTH).

Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.

Shares of Wealthfront Corporation declined sharply following the company's first post-IPO earnings release, pressured by disappointing asset flow figures and emerging investor concerns about strategic exposures underpinning its mortgage business. The stock sell-off came as Wealthfront reported softer net inflows in recent months, signaling a slowdown in client acquisitions and cash management balances relative to prior periods. Additionally, heightened market scrutiny over the CEO's ownership stake in a banking partner central to the firm's mortgage initiative has added to investor uncertainty, fueling speculation around potential conflicts of interest and long-term integration risks.

Since the company's IPO on or around December 12, 2025, at $14.00 per share, the stock has fallen $3.74, or 26.71%, to close at $10.26 on January 14, 2026.

To learn more about the Wealthfront investigation, go to www.faruqilaw.com/WLTH or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

Follow us for updates on LinkedIn, on X, or on Facebook.

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/285147

Source: Faruqi & Faruqi LLP

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- Blinded evaluation of safety and tolerability data by the Safety Monitoring Committee from Cohort 1 and advancement to Cohort 2 is expected in 3Q 2026 –

- Advancement reflects continued execution of capital-efficient development strategy leveraging POZ Platform™ -

HUNTSVILLE, AL, Feb. 24, 2026 (GLOBE NEWSWIRE) -- Serina Therapeutics, Inc. ("Serina" or the "Company") (NYSE American: SER), a clinical-stage biotechnology company advancing drug candidates enabled by its proprietary POZ Platform™ drug optimization technology, today announced that it has dosed the first patient in its Phase 1b registrational clinical trial evaluating SER-252 in patients with advanced Parkinson's disease.

The Phase 1b registrational study is designed to evaluate the safety, tolerability, pharmacokinetics, and preliminary efficacy of SER-252 in patients with advanced Parkinson’s disease whose symptoms are inadequately controlled by current standard-of-care therapies. Serina anticipates that blinded review of safety and tolerability by the Safety Monitoring Committee from Cohort 1 will allow advancement to Cohort 2 in the third quarter of 2026.

“Dosing the first patient represents an important inflection point for Serina as we begin generating clinical data with SER-252,” said Steve Ledger, Chief Executive Officer of Serina. "With FDA alignment on our 505(b)(2) NDA pathway and recognition of this Phase 1b trial as registrational, we are positioned to efficiently generate the clinical data necessary to bring SER-252 to market. We are grateful to our clinical investigators, the Parkinson's community in Australia, and the patients who are making this trial possible."

Serina has established relationships with Parkinson's Australia and Neuroscience Trials Australia to support patient identification and enrollment activities. The Company plans to provide further updates on the trial as patient enrollment progresses.

Initial dosing activities are underway at global clinical sites, including Australia, where Serina has established strong investigator relationships to support efficient trial execution. The Company expects to provide additional clinical and operational updates as the study advances.

About Serina Therapeutics

Serina is a clinical-stage biotechnology company developing a pipeline of wholly owned drug product candidates to treat neurological diseases and other indications. Serina's POZ Platform™ provides the potential to improve the integrated efficacy and safety profile of multiple modalities including small molecules, RNA-based therapeutics and antibody-based drug conjugates (ADCs). Serina is headquartered in Huntsville, Alabama on the campus of the HudsonAlpha Institute of Biotechnology.

About the POZ Platform™

Serina's proprietary POZ technology is based on a synthetic, water soluble, low viscosity polymer called poly(2-oxazoline). Serina's POZ technology is engineered to provide greater control in drug loading and more precision in the rate of release of attached drugs delivered via subcutaneous injection. The therapeutic agents in Serina's product candidates are typically well-understood and marketed drugs that are effective but are limited by pharmacokinetic profiles that can include toxicity, side effects and short half-life. Serina believes that by using POZ technology, drugs with narrow therapeutic windows can be designed to maintain more desirable and stable levels in the blood.

Serina's POZ platform delivery technology has potential for use across a broad range of payloads and indications. Serina intends to advance additional applications of the POZ platform via out-licensing, co-development, or other partnership arrangements, including the non-exclusive license agreement with Pfizer, Inc. to use Serina's POZ polymer technology for use in lipid nanoparticle drug (LNP) delivery formulations.

About SER-252 (POZ-apomorphine)

SER-252 is an investigational apomorphine therapy developed with Serina's POZ platform and designed to provide continuous dopaminergic stimulation (CDS). CDS has been shown to reduce the severity of levodopa-related motor complications (dyskinesia) in Parkinson's disease. Preclinical studies support the potential of SER-252 to provide CDS without skin reactions.

Cautionary Statement Regarding Forward-Looking Statements

This release contains forward-looking statements within the meaning of federal securities laws. All statements that are not historical fact, including statements about Serina's planned clinical programs, including timing for patient enrollment and dosing, the potential of Serina's POZ polymer technology, and the Company's ability to advance its clinical trial, are forward-looking statements that involve substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These statements are based on management's current expectations, plans, beliefs or forecasts for the future, and are subject to uncertainty and changes in circumstances. Undue reliance should not be placed on these forward-looking statements which speak only as of the date they are made, and the facts and assumptions underlying these statements may change.

Actual results may differ materially from those projected in such statements due to a variety of important factors including, among other things, the uncertainties inherent in research and development, including the ability to meet anticipated clinical endpoints, commencement and/or completion dates for clinical trials, regulatory submission dates, regulatory approval dates and/or launch dates, as well as the possibility of unfavorable new clinical data and further analyses of existing clinical data; Serina's ability to continue as a going concern; the risk that clinical trial data are subject to differing interpretations and assessments by regulatory authorities; whether regulatory authorities will be satisfied with the design of and results from our clinical studies; whether and when any applications may be filed for any drug or vaccine candidates in any jurisdictions; whether and when regulatory authorities may approve any potential applications that may be filed for any drug or vaccine candidates in any jurisdictions, which will depend on a myriad of factors, including making a determination as to whether the product's benefits outweigh its known risks and determination of the product's efficacy and, if approved, whether any such drug or vaccine candidates will be commercially successful; decisions by regulatory authorities impacting labeling, manufacturing processes, safety and/or other matters that could affect the availability or commercial potential of any drug or vaccine candidates; and competitive developments. These risks as well as other risks are more fully discussed in the company's Annual Report on Form 10-K for the year ended December 31, 2024, and the company's other periodic reports and documents filed from time to time with the SEC. The information contained in this release is as of the date hereof, and Serina assumes no obligation to update forward-looking statements contained in this release as the result of new information or future events or developments.

For inquiries, please contact:
Stefan Riley
[email protected]
(256) 327-9630

-

Bryan Fairbanks to Retire After Nearly 23 Years with TREX; Adam Zambanini Appointed President and Chief Executive Officer

WINCHESTER, Va.--(BUSINESS WIRE)--Trex Company, Inc. (NYSE:TREX), the world’s largest manufacturer of high-performance, low-maintenance composite decking and railing products, today announced that Bryan H. Fairbanks, Trex’s President and Chief Executive Officer, will retire from Trex after nearly 23 years with the Company, effective April 28, 2026. The Board of Directors has appointed Adam D. Zambanini, Trex’s current Executive Vice President and Chief Operating Officer, as Trex’s next President and Chief Executive Officer and as a member of the Board, effective April 28, 2026. Following the transition period, Mr. Fairbanks will serve as an outside consultant to the Company.

Mr. Zambanini brings more than 20 years of leadership experience at Trex, most recently serving as Executive Vice President and Chief Operating Officer. Over the course of his tenure, he has held multiple leadership positions, including President of Residential Products and Vice President of Marketing, and has been instrumental in driving Trex’s market growth, product development and operational execution.

James Cline, Chairman of the Board of Directors, said “Bryan has made an immeasurable mark on the organization and embodies Trex’s core qualities – vision, innovation and discipline. In determining a successor, the Board undertook a comprehensive evaluation process, including assessing both internal and external candidates, and Adam was the clear and most capable successor to Bryan. He is a strong leader and brand-builder and his knowledge of Trex’s business, product roadmap, markets and people is unmatched. Adam has been a true partner to Bryan in developing our strategic initiatives and product innovation, which will be an important advantage as he steps into his new role.”

Mr. Zambanini, said, “It is an honor to succeed Bryan, someone who has made an impact on me and so many across Trex. As I assume the role as the Company’s next CEO, I am energized by the opportunity to partner with our dynamic leaders and continue to drive growth and shareholder value. Trex is the undisputed leader in wood-alternative decking and railing and I am confident that Trex will continue to win in our markets and categories, while building on our strong financial profile.”

“After a nearly 23-year career at Trex, including the past six years as CEO, now is the right time to transition leadership to Adam as part of our succession plan,” said Mr. Fairbanks. “I have had the opportunity to work with the best talent in our industry and lead our iconic Trex brand that has shaped the decking industry and delivered above market returns for our investors. Having worked closely with Adam for two decades, I have been impressed with his leadership capabilities and his drive for performance. I take pride in what we have built and move on with confidence in Trex’s future.”

Mr. Cline concluded, “Six years ago, Bryan was announced as CEO and during his tenure he has grown Trex, shown resilience within a challenging industry environment, strategically invested to enhance the Company’s future position and built a world-class team of innovators and operators that have consistently delivered for our channel partners and consumers. On behalf of the Board and the Trex team, we owe Bryan our deepest appreciation and thank him for his continued support to ensure this is a seamless transition for all stakeholders.”

Fourth Quarter and Full Year 2025 Earnings Results

In a separate press release issued today, Trex announced its fourth quarter and full year 2025 financial results. The Company will hold a conference call today, Tuesday, February 24, 2026, at 4:30 p.m. ET.

About Adam Zambanini

Mr. Zambanini has served as our Executive Vice President and Chief Operating Officer since October 25, 2023. He previously served as President of Trex Residential Products between July 2018 and October 2023. Mr. Zambanini served as Vice President, Marketing between January 2011 and July 2018, and he served in a number of other roles at the Company between September 2005 and December 2010. Prior to joining Trex, Mr. Zambanini held marketing and market development roles at Rubbermaid Commercial Products, where he most recently served as Product Manager, and began his professional career as a project engineer at Flambeau Inc. Mr. Zambanini received a Bachelor of Science degree in mechanical engineering from Penn State University and a Master of Business Administration degree from Averett University.

About Trex Company, Inc.

For more than 30 years, Trex Company [NYSE: TREX] has invented, reinvented, and defined the composite decking category. Today, the company is the world’s #1 brand of sustainably made, wood-alternative decking and railing, and a leader in high-performance, low-maintenance outdoor living products. Boasting the industry’s strongest distribution network, Trex sells products through more than 6,700 retail outlets across six continents. Through strategic licensing agreements, the company offers a comprehensive outdoor living portfolio that includes deck drainage, flashing tapes, deck lighting, outdoor kitchen components, fencing, pergolas, spiral stairs, lattice, cornhole and outdoor furniture – all marketed under the Trex® brand. Based in Winchester, Va., Trex is proud to have been named America’s Most Trusted® Outdoor Decking^ for the past 6 years (2021-2026). The company also holds a place on Barron’s list of the 100 Most Sustainable U.S. Companies (2024 and 2025), was named one of America’s Most Responsible Companies by Newsweek, ranked as one of the 100 Best ESG Companies by Investor’s Business Daily, and named the Sustainable Brand Leader in the decking category by Green Builder Media for the 15th consecutive year. For more information, visit Trex.com. You may also follow Trex on Facebook (trexcompany), Instagram (trexcompany), X (Trex_Company), LinkedIn (trex-company), TikTok (trexcompany), Pinterest (trexcompany) and Houzz (trex-company-inc), or view product and demonstration videos on the brand’s YouTube channel (TheTrexCo).

^2021-2026 DISCLAIMER: Trex received the highest numerical score in the proprietary Lifestory Research 2021-2026 America’s Most Trusted® Outdoor Decking studies. Study results are based on the experiences and perceptions of people surveyed. Your experiences may vary. Visit www.lifestoryresearch.com.

Forward-Looking Statements

Statements contained in this press release that state the Company’s or its management’s expectations or predictions of the future are forward-looking statements intended to be covered by the safe harbor provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934. The forward-looking statements in this press release include expectations with respect to executive transition dates, among other items. It is important to note that actual results could differ materially from those projected in such forward-looking statements based on numerous factors, including those outside of the Company’s control. For more information concerning factors that could cause actual results to differ from those expressed or forecasted, see the Company’s annual report on Form 10-K, quarterly reports on Form 10-Q, and other reports filed with the Securities and Exchange Commission.

More News From Trex Company, Inc.

Back to Newsroom

, /PRNewswire/ -- Lucid Group, Inc. (Nasdaq: LCID), maker of the world's most advanced electric vehicles, today announced that it has filed a prospectus supplement with the Securities and Exchange Commission to register for resale up to 69,108,837 shares of its Class A Common Stock.

No new shares will be issued or sold by Lucid in connection with this resale prospectus supplement. The shares were registered solely to fulfill Lucid's contractual obligations to (i) SMB Holding Corporation, a subsidiary of Uber Technologies, Inc., with respect to shares issued to SMB in a private placement, and (ii) Ayar Third Investment Company, an affiliate of the Public Investment Fund, with respect to shares that Ayar is entitled to purchase from a certain forward counterparty pursuant to the prepaid forward transactions Ayar entered into in connection with Lucid's convertible senior notes offerings in 2025.

Registration of these shares does not mean that the holders will offer or sell any of their shares. In fact, SMB cannot sell its shares until March 2027, and the shares under the prepaid forward transactions are expected to be delivered to Ayar in April 2030 and November 2031, respectively, subject to possible early settlement in certain circumstances.

This press release does not constitute an offer to sell or the solicitation of an offer to buy shares of Lucid's common stock, nor shall there be any sale of these shares in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About Lucid Group

Lucid (NASDAQ: LCID) is a Silicon Valley-based technology company focused on creating the most advanced EVs in the world. The award-winning Lucid Air and Lucid Gravity deliver best-in-class performance, sophisticated design, expansive interior space and unrivaled energy efficiency. Lucid assembles both vehicles in its state-of-the-art, vertically integrated factories in Arizona and Saudi Arabia. Through its industry-leading technology and innovations, Lucid is advancing the state-of-the-art of EV technology for the benefit of all.

Investor Relations Contact

[email protected] 

Media Contact

[email protected] 

Forward-Looking Statements

This communication includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "will," "shall," "expect," "anticipate," "believe," "seek," "target," "continue," "could," "may," "might," "possible," "potential," "predict" or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the timing of the sale of shares of Lucid's common stock. Actual events and circumstances may differ from these forward-looking statements. These forward-looking statements are subject to a number of risks and uncertainties. Among those risks and uncertainties are market conditions and risks relating to Lucid's business, including those factors discussed under the cautionary language and the Risk Factors in Lucid's Annual Report on Form 10-K for the year ended December 31, 2025, and other documents Lucid has filed or will file with the Securities and Exchange Commission. If any of these risks materialize or Lucid's assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Lucid currently does not know or that Lucid currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. Lucid cannot provide any assurances regarding its ability to effectively apply the net proceeds as described above. In addition, forward-looking statements reflect Lucid's expectations, plans or forecasts of future events and views as of the date of this communication. Lucid anticipates that subsequent events and developments will cause Lucid's assessments to change. However, while Lucid may elect to update these forward-looking statements at some point in the future, Lucid specifically disclaims any obligation to do so. Accordingly, undue reliance should not be placed upon the forward-looking statements.

SOURCE Lucid Group

Resources Investor Relations Journalists Agencies Client Login Send a Release News Products Contact , /PRNewswire/ -- GoDaddy Inc. (NYSE: GDDY) today reported fourth quarter and fiscal year 2025 financial results. To view the earnings release, earnings presentation and prepared remarks, please access the company's Investor Relations website at https://aboutus.godaddy.net/investor-relations/financials.

GoDaddy management will host a live webcast at 5:00 p.m. Eastern Time, which will be available on GoDaddy's Investor Relations website. To participate, please register here.

Following the webcast's completion, a recording will be available on GoDaddy's Investor Relations website.

About GoDaddy
GoDaddy, the world's largest domain name registrar, helps millions of entrepreneurs globally start, grow, and scale their businesses. People come to GoDaddy to name their idea, build a website and logo, sell their products and services and accept payments. GoDaddy Airo®, the company's AI-powered experience, makes growing a small business faster and easier by helping them to get their idea online in minutes, drive traffic and boost sales. GoDaddy's expert guides are available 24/7 to provide assistance. To learn more about the company, visit www.GoDaddy.com.

Source: GoDaddy Inc.

© 2026 GoDaddy Inc. All Rights Reserved.

SOURCE GoDaddy Inc.

Also from this source

Tradr 2X Long SNDK Daily ETF Becomes Fastest Growing ETF of the Past 12 Months

, /PRNewswire/ -- Tradr ETFs, a provider of ETFs designed for sophisticated investors and professional traders, today announced that the Tradr 2X Long SNDK Daily ETF (Cboe: SNXX) has become the fastest growing ETF launched in the past 12 months, as measured by average assets gathered per day since inception.

Launched on January 27, 2026, SNXX amassed $650 million in assets under management in just 24 days, averaging over $27 million in net new AUM per day since inception as of February 20, 2026. The fund is now the fifth-largest single-stock ETF in the U.S. market, behind only TSLL, NVDL, GGLL and MUU, according to data from Bloomberg.

SNXX seeks to deliver 200% of the daily performance of Sandisk Corp. (Nasdaq: SNDK), offering traders a capital-efficient vehicle to express high conviction views without the need for margin accounts or options strategies.

The strong adoption of SNXX follows continued demand for Tradr's recently launched single-stock ETFs. The Tradr 2X Long LITE Daily ETF (Cboe: LITX) has gathered approximately $200 million in AUM within its first month, while the Tradr 2X Long WDC Daily ETF (Cboe: WDCX) has accumulated approximately $40 million over the same period (all data as of February 20, 2026).

"The speed of adoption we're seeing in our recent launches demonstrates real unmet market demand," said Russell Tencer, President of Tradr ETFs. "Traders and active investors are voting with their capital for the precision trading products Tradr is delivering."

Tradr ETFs is the pioneer of single-stock ETF exposures in the U.S. and is currently the fastest growing provider in the category. With a focus on precision tools for active market participants, Tradr empowers traders to access amplified exposure to individual stocks in a transparent, exchange-traded structure.

Tradr's lineup of 69 leveraged ETFs represents $2.7 billion in assets under management. For detailed information on Tradr ETFs and the significant risks involved with leveraged ETFs, please visit www.tradretfs.com.

About Tradr ETFs
Tradr ETFs are designed for sophisticated investors and professional traders who are looking to express high conviction investment views. The strategies include leveraged and inverse ETFs that seek short or long exposure to actively traded stocks and ETFs.

IMPORTANT RISK INFORMATION

Tradr ETFs are for sophisticated investors and professional traders with high conviction views and are very different from most other ETFs. The Funds are intended to be used as short-term trading vehicles and pursue leveraged investment objectives, which means they are riskier than alternatives that do not use leverage because the Funds magnify the performance of their underlying security. The volatility of the underlying security may affect a Fund's return as much as, or more than, the return of the underlying security.

Investors in the fund should: (a) understand the risks associated with the use of leverage; (b) understand the consequences of seeking inverse and leveraged investment results; (c) for short ETFs, understand the risk of shorting; (d) intend to actively monitor and manage their investment. Fund performance will likely be significantly different than the benchmark over periods longer than the specified reset period and the performance may trend in the opposite direction than its benchmark over periods other than that period.

Leverage increases the risk of a total loss of an investor's investment, may increase the volatility of the Funds, and may magnify any differences between the performance of the Funds and their reference security. The Funds seek leveraged investment results for a specific period (daily, monthly or quarterly). The exact exposure of an investment in the Fund intra-period will depend upon the movement of the reference security from the end of the prior period until the time of investment by the investor.

The Fund will not attempt to position its portfolio to ensure it does not gain or lose more than a maximum percentage of its net asset value on a given trading day. As a consequence, investors in a Fund that seeks two times daily performance would lose all of their money if the Fund's underlying security moves more than 50% in a direction adverse to the Fund on a given trading day.

ETFs involve risk including possible loss of the full principal value. There is no assurance that the Fund will achieve its investment objective. Principal risks and other important risks may be found in the prospectus. Past performance does not guarantee future results.

ETF shares are bought and sold at market price (not NAV) and are not individually redeemed from the ETF. There can be no guarantee that an active trading market for ETF shares will develop or be maintained, or that their listing will continue or remain unchanged. Buying or selling ETF shares on an exchange may require the payment of brokerage commissions and frequent trading may incur brokerage costs that detract significantly from investment returns.

Investors should carefully consider the investment objectives, risks, charges and expenses of the Funds. This and other important information about the Fund is contained in the Prospectus, which can be obtained by visiting www.tradretfs.com. The Prospectus should be read carefully before investing.

Distributed by ALPS Distributors, Inc, which is not affiliated with AXS Investments or its Tradr ETFs. AXI000873

SOURCE Tradr ETFs

The LUCID logo is shown on their electric Gravity vehicle at the LA Auto show "AutoMobility LA" in Los Angeles, California, U.S. November 20, 2025. REUTERS/Mike Blake/File Photo Purchase Licensing Rights, opens new tab

CompaniesFeb 24 (Reuters) - Electric vehicle maker Lucid (LCID.O), opens new tab beat Wall Street estimates for fourth-quarter revenue on Tuesday and forecast a production rise that could top 50% this year as it ramps up its recently launched Gravity sport utility vehicles and prepares to roll out a new, mid-sized vehicle.

But Lucid reported losses higher than analysts' expectations. Last week, Lucid laid off 12% of its U.S. workforce as the company cuts costs amid a challenging market for EVs after the U.S. ended the federal tax credit of $7,500 for new EVs in September.

Stay up to date with the latest news, trends and innovations that are driving the global automotive industry with the Reuters Auto File newsletter. Sign up here.

Lucid, backed by Saudi Arabia's Public Investment Fund, is betting on the Gravity SUV, with a starting price of $79,900, to prop up sales this year.

But the success of Lucid's midsize EV platform, expected late this year with a starting price of under $50,000, is seen as critical to attracting a broader swathe of customers and shaping the luxury EV maker's road ahead.

Lucid said it will produce between 25,000 and 27,000 vehicles in 2026. Last year, it produced 17,840 vehicles.

The company said it produced 7,874 vehicles in the fourth quarter, revising it down from 8,412 vehicles it reported last month, saying it had found 538 had not completed certain procedures to be classified as produced. It delivered a record of 5,345 vehicles in the fourth quarter, exceeding analysts' estimates, according to Visible Alpha data.

For the quarter ended December, Lucid reported a 123% jump in revenue to $522.7 million, compared with the analysts' average estimate of $468 million, according to data compiled by LSEG.

The company posted an adjusted loss of $3.08 per share, compared with the estimated loss of $2.62 per share.

The company rolled out discounts and promotional offers on its luxury Air sedans last year to appeal to consumers scaling back big-ticket purchases due to high borrowing costs.

The company is also focusing on developing its advanced driver-assistance system and software, a crucial and potentially lucrative offering that many automakers are racing to deliver to customers.

The automaker faced production challenges, supply-chain disruptions and escalating costs in 2025, with an impact from U.S. President Donald Trump's flip-flopping tariff policies.

Reporting by Jaspreet Singh in Bengaluru and Abhirup Roy in San Francisco; Editing by Alan Barona

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

Enviri Corporation (NVRI) Q4 2025 Earnings Call Transcript

NEW YORK, Feb. 24, 2026 (GLOBE NEWSWIRE) --

WHY: Rosen Law Firm, a global investor rights law firm, reminds sellers of Endeavor Group Holdings, Inc. (NYSE: EDR) Class A common stock between January 15, 2025 and March 24, 2025, both dates inclusive (the “Class Period”), of the important March 18, 2026 lead plaintiff deadline.

SO WHAT: If you sold Endeavor Class A common stock during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Endeavor class action, go to https://rosenlegal.com/submit-form/?case_id=51048 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than March 18, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: The lawsuit seeks to recover damages on behalf of investors that were damaged as a result of allegedly false and misleading statements and omissions of material facts in the January 15, 2025 Information Statement (filed with the U.S. Securities and Exchange Commission (the “SEC”) pursuant to the securities laws) and subsequent amendment issued by defendants, and related filings with the SEC. Among other things, the complaint alleges the Information Statement and other solicitation materials misled investors regarding the true value of Endeavor’s shares, failed to adequately disclose the earnings of Endeavor’s executives under the terms of the Merger (a take-private merger), and failed to disclose conflicts of interests with Endeavor’s special committee and financial advisor.

To join the Endeavor class action, go to https://rosenlegal.com/submit-form/?case_id=51048 call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

-------------------------------

Contact Information:

        Laurence Rosen, Esq.
        Phillip Kim, Esq.
        The Rosen Law Firm, P.A.
        275 Madison Avenue, 40th Floor
        New York, NY 10016
        Tel: (212) 686-1060
        Toll Free: (866) 767-3653
        Fax: (212) 202-3827
        [email protected]
        www.rosenlegal.com

Novo Nordisk faces renewed pressure after CagriSema failed to match Eli Lilly's tirzepatide in a key Phase 3 trial. Despite margin compression and weak 2026 guidance, NVO remains a cash-generative leader in the expanding obesity market. Even under bearish scenarios, downside risk appears limited, with robust free cash flow and high gross margins supporting valuation.

FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Universal Insurance Holdings (NYSE: UVE) (“Universal” or the “Company”) reported fourth quarter and full year 2025 results.

“We had an outstanding quarter and I am proud of the progress we have made in 2025,” said Stephen J. Donaghy, Chief Executive Officer. “We’re continuing to see the benefits of Florida’s legislative reforms, which have stabilized the market, benefiting all stakeholders. Our capital position is robust and we believe our aggregate reserves are more than adequate. We are well underway negotiating and placing our 2026 reinsurance program with 90% of our first event catastrophe tower already placed, along with meaningful additional multi-year capacity secured for the 2027 hurricane season.”

Summary Financial Results

($thousands, except per share data)

Three Months Ended December 31,

Twelve Months Ended December 31,

2025

2024

Change

2025

2024

Change

GAAP comparison

Total revenues

$

407,926

$

384,809

6.0

%

$

1,603,915

$

1,520,536

5.5

%

Operating income

$

90,049

$

8,957

905.3

%

$

249,491

$

91,087

173.9

%

Operating income margin

22.1

%

2.3

%

19.8 pts

15.6

%

6.0

%

9.6 pts

Net income available to common stockholders

$

66,587

$

6,016

1,006.8

%

$

182,941

$

58,918

210.5

%

Diluted earnings per common share

$

2.28

$

0.21

985.7

%

$

6.32

$

2.01

214.4

%

Annualized ROCE

50.9

%

6.2

%

44.7 pts

39.6

%

16.5

%

23.1 pts

Book value per share, end of period

$

19.67

$

13.28

48.1

%

19.67

$

13.28

48.1

%

Non-GAAP comparison1

Core revenue

$

403,571

$

386,414

4.4

%

$

1,599,394

$

1,511,915

5.8

%

Adjusted operating income

$

85,694

$

10,562

711.3

%

$

244,970

$

82,466

197.1

%

Adjusted operating income margin

21.2

%

2.7

%

18.5 pts

15.3

%

5.5

%

9.8 pts

Adjusted net income available to common stockholders

$

63,303

$

7,226

776.0

%

$

179,532

$

52,418

242.5

%

Adjusted diluted earnings per common share

$

2.17

$

0.25

768.0

%

$

6.20

$

1.79

246.4

%

Annualized adjusted ROCE

46.1

%

6.5

%

39.6 pts

35.6

%

12.4

%

23.2 pts

Adjusted book value per share, end of period

$

20.60

$

15.53

32.6

%

$

20.60

$

15.53

32.6

%

Underwriting Summary

Premiums:

Premiums in force

$

2,147,941

$

2,079,069

3.3

%

$

2,147,941

$

2,079,069

3.3

%

Policies in force

895,927

855,526

4.7

%

895,927

855,526

4.7

%

Direct premiums written

$

483,684

$

470,895

2.7

%

$

2,140,256

$

2,069,692

3.4

%

Direct premiums earned

$

537,955

$

519,339

3.6

%

$

2,108,743

$

1,999,805

5.4

%

Ceded premiums earned

$

(174,530

)

$

(170,985

)

2.1

%

$

(669,728

)

$

(626,732

)

6.9

%

Ceded premium ratio

32.4

%

32.9

%

(0.5) pts

31.8

%

31.3

%

0.5 pts

Net premiums earned

$

363,425

$

348,354

4.3

%

$

1,439,015

$

1,373,073

4.8

%

Net ratios:

Loss ratio

61.3

%

82.3

%

(21.0) pts

68.5

%

79.2

%

(10.7) pts

Expense ratio

26.2

%

25.6

%

0.6 pts

25.6

%

24.9

%

0.7 pts

Combined ratio

87.5

%

107.9

%

(20.4) pts

94.1

%

104.1

%

(10.0) pts

1 Reconciliation of GAAP to non-GAAP financial measures are provided in the attached tables. Adjusted net income (loss) available to common stockholders, adjusted diluted earnings (loss) per common share and core revenue exclude net realized gains (losses) on investments and net change in unrealized gains (losses) on investments. Adjusted operating income (loss) excludes the items above and interest and amortization of debt issuance costs. Adjusted book value per share excludes accumulated other comprehensive income (loss), net of taxes. Adjusted ROCE is calculated by dividing annualized adjusted net income (loss) available to common stockholders by average adjusted book value per share, with the denominator further excluding current period after-tax net realized gains (losses) on investments and net change in unrealized gains (losses) on investments.

Net Income and Adjusted Net Income

Net income available to common stockholders was $66.6 million, up from net income of $6.0 million in the prior year quarter, and adjusted net income available to common stockholders was $63.3 million, up from adjusted net income of $7.2 million in the prior year quarter. The higher adjusted net income available to common stockholders mostly stems from a lower net loss ratio and higher net premiums earned and net investment income.

Revenues

Revenue was $407.9 million, up 6.0% from the prior year quarter and core revenue was $403.6 million, up 4.4% from the prior year quarter. The increase in core revenue primarily stems from higher net premiums earned and net investment income.

Direct premiums written were $483.7 million, up 2.7% from the prior year quarter. The increase stems from 18.2% growth in other states, partly offset by a 3.1% decrease in Florida. Overall growth mostly reflects higher policies in force and inflation adjustments across our multi-state footprint.

Direct premiums earned were $538.0 million, up 3.6% from the prior year quarter. The increase stems from direct premiums written growth over the past twelve months.

The ceded premium ratio was 32.4%, down from 32.9% in the prior year quarter. The decrease primarily reflects higher reinsurance spend in the prior year quarter.

Net premiums earned were $363.4 million, up 4.3% from the prior year quarter. The increase is primarily attributable to higher direct premiums earned and a lower ceded premium ratio, as described above.

Net investment income was $19.0 million, up from $15.6 million in the prior year quarter. The increase primarily stems from higher fixed income reinvestment yields and higher invested assets.

Commissions, policy fees and other revenue were $21.2 million, down 5.9% from the prior year quarter. The decrease primarily reflects higher reinsurance spend in the prior year quarter.

Margins

The operating income margin was 22.1%, up from an operating income margin of 2.3% in the prior year quarter. The adjusted operating income margin was 21.2%, up from an adjusted operating income margin of 2.7% in the prior year quarter. The higher adjusted operating income margin primarily stems from a lower net loss ratio and higher core revenue.

The net loss ratio was 61.3%, down 21.0 points compared to the prior year quarter. The decrease reflects better current accident year results and the inclusion of Hurricane Milton in the prior year quarter.

The net expense ratio was 26.2%, up 0.6 points from 25.6% in the prior year quarter. The increase was primarily driven by higher other operating costs.

The net combined ratio was 87.5%, down 20.4 points compared to the prior year quarter. The decrease reflects a lower net loss ratio, slightly offset by a higher net expense ratio, as described above.

Capital Deployment

During the fourth quarter, the Company repurchased approximately 210 thousand shares at an aggregate cost of $6.9 million.

On January 7, 2026, the Company announced a new share repurchase program under which the Company may repurchase up to $20 million of its outstanding shares of common stock through January 8, 2028.

On February 4, 2026, the Board of Directors declared a regular quarterly cash dividend of 16 cents per share of common stock, payable March 13, 2026 to shareholders of record as of the close of business on March 6, 2026.

Conference Call and Webcast

Wednesday, February 25, 2026 at 10:00 a.m. ET Investors and other interested parties may listen to the call by accessing the online, real-time webcast at universalinsuranceholdings.com/investors or by registering in advance via teleconference at https://register-conf.media-server.com/register/BI41559db1e1244b5489ead3bc4a1ba3b6. Once registration is completed, participants will be provided with a dial-in number containing a personalized conference code to access the call. An online replay of the call will be available at universalinsuranceholdings.com/investors shortly after the investor call concludes. About Universal

Universal Insurance Holdings, Inc. (NYSE: UVE) is a holding company providing property and casualty insurance and value-added insurance services. We develop, market, and write insurance products for consumers predominantly in the personal residential homeowners lines of business and perform substantially all other insurance-related services for our primary insurance entities, including risk management, claims management and distribution. We provide insurance products in the United States through both our appointed independent agents and our direct online distribution channels, primarily in Florida. Learn more at universalinsuranceholdings.com or get an insurance quote at Clovered.com.

Non-GAAP Financial Measures and Key Performance Indicators

This press release contains non-GAAP financial measures within the meaning of Regulation G promulgated by the U.S. Securities and Exchange Commission (“SEC”), including core revenue, adjusted net income available to common stockholders and diluted adjusted earnings (loss) per common share, which exclude the impact of net realized gains (losses) on investments and net change in unrealized gains (losses) on investments. Adjusted operating income (loss) and adjusted operating income (loss) margin exclude the impact of net realized gains (losses) on investments and net change in unrealized gains (losses) on investments and interest and amortization of debt issuance costs. Adjusted common stockholders’ equity and adjusted book value per share exclude accumulated other comprehensive income (loss) (AOCI), net of taxes. Adjusted return on common equity excludes after-tax net realized gains (losses) on investments and net change in unrealized gains (losses) on investments from the numerator and AOCI, net of taxes, and current period after-tax net realized gains (losses) on investments and net change in unrealized gains (losses) on investments from the denominator. A “non-GAAP financial measure” is generally defined as a numerical measure of a company’s historical or future performance that excludes or includes amounts, or is subject to adjustments, so as to be different from the most directly comparable measure calculated and presented in accordance with generally accepted accounting principles (“GAAP”). UVE management believes that these non-GAAP financial measures are meaningful, as they allow investors to evaluate underlying revenue and profitability trends and enhance comparability across periods. When considered together with the GAAP financial measures, management believes these metrics provide information that is useful to investors in understanding period-over-period operating results separate and apart from items that may, or could, have a disproportionately positive or negative impact on results in any particular period. UVE management also believes that these non-GAAP financial measures enhance the ability of investors to analyze UVE’s business trends and to understand UVE’s operational performance. UVE’s management utilizes these non-GAAP financial measures as guides in long-term planning. Non-GAAP financial measures should be considered in addition to, and not as a substitute for or superior to, financial measures presented in accordance with GAAP. For more information regarding our key performance indicators, please refer to the section titled “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Key Performance Indicators” in our forthcoming Annual Report on Form 10-K for the year ended December 31, 2025.

Forward-Looking Statements

This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. The words “believe,” “expect,” “anticipate,” “will,” “plan,” and similar expressions identify forward-looking statements, which speak only as of the date the statement was made. Such statements may include commentary on plans, products and lines of business, marketing arrangements, reinsurance programs, other business developments, projections, and estimates, and assumptions relating to the foregoing. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Important factors that could cause our actual results or performance to differ materially from those contained in or implied by our forward-looking statements include, but are not limited to, the following:

we may face significant losses, and our financial results may vary from period to period, due to exposure to catastrophic events and severe weather conditions, the frequency and severity of which could be affected by climate change; if we fail to adequately price the risks we underwrite and/or the estimates we make, or if emerging trends outpace our ability to adjust prices timely, or if we lose desirable exposures to competitors by overpricing our risks, we may experience underwriting losses depleting surplus at the Insurance Entities and capital at the holding company; unanticipated increases in the severity or frequency of claims adversely affect our profitability and financial condition; the failure of the risk mitigation strategies we utilize could have a material adverse effect on our financial condition or results of operations; and the risks and uncertainties, as they may be amended from time to time, set forth in our filings with the U.S. Securities and Exchange Commission, including under the heading “Risk Factors” and “Liquidity and Capital Resources” in our most recent Annual Report on Form 10-K, and supplemented in our subsequent Quarterly Reports on Form 10-Q. Although we believe that the expectations reflected in any of our forward-looking statements are reasonable, actual results or outcomes could differ materially from those projected or assumed in any of our forward-looking statements. There may be other factors not presently known to us or which we currently consider to be immaterial that could cause our actual results to differ materially from those projected in any forward-looking statements we make. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. For further information regarding risk factors that could affect the Company’s operations and future results, refer to the Company’s reports filed with the Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K and the most recent quarterly reports on Form 10-Q.

UNIVERSAL INSURANCE HOLDINGS, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS (UNAUDITED)

(in thousands, except per share data)

December 31,

December 31,

2025

2024

ASSETS

Invested Assets

Fixed maturities, at fair value

$

1,431,028

$

1,269,079

Equity securities, at fair value

85,420

77,752

Other investments, at fair value

10,693

16,123

Investment real estate, net

5,463

8,322

Total invested assets

1,532,604

1,371,276

Cash and cash equivalents

408,868

259,441

Restricted cash and cash equivalents

68,970

2,635

Prepaid reinsurance premiums

291,031

262,716

Reinsurance recoverable

232,918

627,617

Premiums receivable, net

75,721

77,936

Property and equipment, net

49,349

48,653

Deferred policy acquisition costs

128,564

121,178

Deferred income tax asset, net

27,658

42,163

Goodwill

2,319

2,319

Other assets

21,693

25,927

TOTAL ASSETS

$

2,839,695

$

2,841,861

LIABILITIES AND STOCKHOLDERS' EQUITY

LIABILITIES:

Unpaid losses and loss adjustment expenses

$

680,712

$

959,291

Unearned premiums

1,091,959

1,060,446

Advance premium

61,847

46,237

Income taxes payable

28,554

6,561

Reinsurance payable, net

257,242

220,328

Commission payable

26,307

25,931

Debt, net of issuance costs

100,481

101,243

Other liabilities and accrued expenses

41,558

48,574

Total liabilities

2,288,660

2,468,611

STOCKHOLDERS' EQUITY:

Cumulative convertible preferred stock ($0.01 par value)2

—

—

Common stock ($0.01 par value)3

482

475

Treasury shares, at cost - 20,226 and 19,382

(305,064

)

(282,693

)

Additional paid-in capital

124,319

121,781

Accumulated other comprehensive income (loss), net of taxes

(26,151

)

(63,166

)

Retained earnings

757,449

596,853

Total stockholders' equity

551,035

373,250

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY

2,839,695

2,841,861

Notes:

2 Cumulative convertible preferred stock ($0.01 par value): Authorized - 1,000 shares; Issued - 10 and 10 shares; Outstanding - 10 and 10 shares; Minimum liquidation preference - $9.99 and $9.99 per share.

3 Common stock ($0.01 par value): Authorized - 55,000 shares; Issued - 48,234 and 47,478 shares; Outstanding - 28,008 and 28,096 shares.

UNIVERSAL INSURANCE HOLDINGS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME (LOSS) (UNAUDITED)

(in thousands)

Three Months Ended

Twelve Months Ended

December 31,

December 31,

2025

2024

2025

2024

REVENUES

Net premiums earned

$

363,425

$

348,354

$

1,439,015

$

1,373,073

Net investment income

18,972

15,559

70,627

59,148

Net realized gains (losses) on investments

777

219

5,698

(1,315

)

Net change in unrealized gains (losses) on investments

3,578

(1,824

)

(1,177

)

9,936

Commission revenue

14,609

16,121

61,336

51,792

Policy fees

4,615

4,315

20,100

19,490

Other revenue

1,950

2,065

8,316

8,412

Total revenues

407,926

384,809

1,603,915

1,520,536

EXPENSES

Losses and loss adjustment expenses

222,739

286,652

985,878

1,087,366

Policy acquisition costs

64,200

63,344

250,246

233,444

Other operating expenses

30,938

25,856

118,300

108,639

Total operating costs and expenses

317,877

375,852

1,354,424

1,429,449

Interest and amortization of debt issuance costs

1,599

1,612

6,422

6,476

Income before income tax expense

88,450

7,345

243,069

84,611

Income tax expense

21,861

1,327

60,118

25,683

NET INCOME

$

66,589

$

6,018

$

182,951

$

58,928

UNIVERSAL INSURANCE HOLDINGS, INC. AND SUBSIDIARIES

SHARE AND PER SHARE INFORMATION

(in thousands, except per share data)

Three Months Ended

Twelve Months Ended

December 31,

December 31,

2025

2024

2025

2024

Weighted average common shares outstanding - basic

27,797

28,173

27,890

28,498

Weighted average common shares outstanding - diluted

29,161

29,118

28,956

29,274

Shares outstanding, end of period

28,008

28,096

28,008

28,096

Basic earnings per common share

$

2.40

$

0.21

$

6.56

$

2.07

Diluted earnings per common share

$

2.28

$

0.21

$

6.32

$

2.01

Cash dividend declared per common share

$

0.29

$

0.29

$

0.77

$

0.77

Book value per share, end of period

$

19.67

$

13.28

$

19.67

$

13.28

Annualized return on average common equity (ROCE)

50.9

%

6.2

%

39.6

%

16.5

%

UNIVERSAL INSURANCE HOLDINGS, INC. AND SUBSIDIARIES

SUPPLEMENTARY INFORMATION

(in thousands, except for Policies In Force data)

Three Months Ended

Twelve Months Ended

December 31,

December 31,

2025

2024

2025

2024

Premiums

Direct premiums written - Florida

$

331,950

$

342,565

$

1,554,345

$

1,598,426

Direct premiums written - Other States

151,734

128,330

585,911

471,266

Direct premiums written - Total

$

483,684

$

470,895

$

2,140,256

$

2,069,692

Direct premiums earned

$

537,955

$

519,339

$

2,108,743

$

1,999,805

Net premiums earned

$

363,425

$

348,354

$

1,439,015

$

1,373,073

Underwriting Ratios - Net

Loss and loss adjustment expense ratio

61.3

%

82.3

%

68.5

%

79.2

%

Expense ratio

26.2

%

25.6

%

25.6

%

24.9

%

Policy acquisition cost ratio

17.7

%

18.2

%

17.4

%

17.0

%

Other operating expense ratio

8.5

%

7.4

%

8.2

%

7.9

%

Combined ratio

87.5

%

107.9

%

94.1

%

104.1

%

As of

December 31,

2025

2024

Policies in force

Florida

567,095

567,307

Other States

328,832

288,219

Total

895,927

855,526

Premiums in force

Florida

$

1,561,889

$

1,608,142

Other States

586,052

470,927

Total

$

2,147,941

$

2,079,069

Total Insured Value

Florida

$

186,809,542

$

186,751,842

Other States

206,539,990

171,759,368

Total

$

393,349,532

$

358,511,210

UNIVERSAL INSURANCE HOLDINGS, INC. AND SUBSIDIARIES

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

(in thousands, except for per share data)

GAAP revenue to core revenue

Three Months Ended

Twelve Months Ended

December 31,

December 31,

2025

2024

2025

2024

GAAP revenue

$

407,926

$

384,809

$

1,603,915

$

1,520,536

less: Net realized gains (losses) on investments

777

219

5,698

(1,315

)

less: Net change in unrealized gains (losses) on investments

3,578

(1,824

)

(1,177

)

9,936

Core revenue

$

403,571

$

386,414

$

1,599,394

$

1,511,915

GAAP operating income to adjusted operating income

Three Months Ended

Twelve Months Ended

December 31,

December 31,

2025

2024

2025

2024

GAAP income before income tax expense

$

88,450

$

7,345

$

243,069

$

84,611

add: Interest and amortization of debt issuance costs

1,599

1,612

6,422

6,476

GAAP operating income

90,049

8,957

249,491

91,087

less: Net realized gains (losses) on investments

777

219

5,698

(1,315

)

less: Net change in unrealized gains (losses) on investments

3,578

(1,824

)

(1,177

)

9,936

Adjusted operating income

$

85,694

$

10,562

$

244,970

$

82,466

GAAP operating income margin to adjusted operating income margin

Three Months Ended

Twelve Months Ended

December 31,

December 31,

2025

2024

2025

2024

GAAP operating income (a)

$

90,049

$

8,957

$

249,491

$

91,087

GAAP revenue (b)

407,926

384,809

1,603,915

1,520,536

GAAP operating income margin (a÷b)

22.1

%

2.3

%

15.6

%

6.0

%

Adjusted operating income (c)

85,694

10,562

244,970

82,466

Core revenue (d)

403,571

386,414

1,599,394

1,511,915

Adjusted operating income margin (c÷d)

21.2

%

2.7

%

15.3

%

5.5

%

GAAP net income (NI) to adjusted NI available to common stockholders

Three Months Ended

Twelve Months Ended

December 31,

December 31,

2025

2024

2025

2024

GAAP NI

$

66,589

$

6,018

$

182,951

$

58,928

less: Preferred dividends

2

2

10

10

GAAP NI available to common stockholders (e)

66,587

6,016

182,941

58,918

less: Net realized gains (losses) on investments

777

219

5,698

(1,315

)

less: Net change in unrealized gains (losses) on investments

3,578

(1,824

)

(1,177

)

9,936

add: Income tax effect on above adjustments

1,071

(395

)

1,112

2,121

Adjusted NI available to common stockholders (f)

$

63,303

$

7,226

$

179,532

$

52,418

Weighted average diluted common shares outstanding (g)

29,161

29,118

28,956

29,274

Diluted earnings per common share (e÷g)

$

2.28

$

0.21

$

6.32

$

2.01

Diluted adjusted earnings per common share (f÷g)

$

2.17

$

0.25

$

6.20

$

1.79

GAAP stockholders’ equity to adjusted common stockholders’ equity

As of

December 31,

December 31,

December 31,

2025

2024

2023

GAAP stockholders’ equity

$

551,035

$

373,250

$

341,297

less: Preferred equity

100

100

100

Common stockholders’ equity (h)

550,935

373,150

341,197

less: Accumulated other comprehensive (loss), net of taxes

(26,151

)

(63,166

)

(74,172

)

Adjusted common stockholders’ equity (i)

$

577,086

$

436,316

$

415,369

Common shares outstanding (j)

28,008

28,096

28,966

Book value per common share (h÷j)

$

19.67

$

13.28

$

11.78

Adjusted book value per common share (i÷j)

$

20.60

$

15.53

$

14.34

GAAP return on common equity (ROCE) to adjusted ROCE

Three Months Ended

Twelve Months Ended

December 31,

December 31,

2025

2024

2025

2024

2023

Actual or Annualized NI (loss) available to common stockholders (k)

$

266,348

$

24,064

$

182,941

$

58,918

$

66,813

Average common stockholders’ equity (l)

522,939

386,648

462,043

357,174

314,497

ROCE (k÷l)

50.9

%

6.2

%

39.6

%

16.5

%

21.2

%

Annualized adjusted NI (loss) available to common stockholders (m)

$

253,212

$

28,904

$

179,532

$

52,418

$

58,657

Adjusted average common stockholders’ equity4 (n)

549,750

441,632

504,997

422,593

399,396

Adjusted ROCE (m÷n)

46.1

%

6.5

%

35.6

%

12.4

%

14.7

%

4 Adjusted average common stockholders’ equity excludes current period after-tax net realized gains (losses) on investments and net change in unrealized gains (losses) on investments.

NEW YORK CITY, NEW YORK / ACCESS Newswire / February 24, 2026 / On February 11, 2026, Neo-Concept International Group Holdings Limited (Nasdaq:NCI) (the "Company" or "NCI"), a one-stop apparel solution services provider, announced the closing of its Follow-On Offering of 14,850,000 Class A ordinary shares at a public offering price of $0.5454 per Class A ordinary share (the "Offering").

Gross proceeds, before deducting placement agent fees and other offering expenses, were approximately $8,000,000. The Company intends to utilize the net proceeds from the Offering for expanding its business and for general working capital.

D. Boral Capital LLC acted as the Lead Placement Agent for the Offering.

Loeb & Loeb LLP acted as U.S. legal counsel to the Company and Mclaughlin & Stern, LLP acted legal counsel to D. Boral Capital LLC.

The securities described above were offered pursuant to a registration statement on Form F-1, as amended (File No. 333-288993) (the "Registration Statement"), which was declared effective by the Securities and Exchange Commission (the "SEC") on February 9, 2025. The Offering was made only by means of a prospectus which is a part of the Registration Statement. Before you invest, you should read the prospectus and other documents the Company has filed or will file with the SEC for more information about the Company and the Offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Electronic copies of the final prospectus may be obtained, when available, or by contacting D. Boral Capital LLC at 590 Madison Avenue, 39th Floor, New York, NY 10022, by email at [email protected], or by telephone at +1 (212) 970-5150.

This press release has been prepared for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy any securities, and no sale of these securities may be made in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

About Neo-Concept International Group Holdings Limited

Neo-Concept International Group Holdings Limited ("NCI") is a one-stop apparel solution services provider. It offers a full suite of services in the apparel supply chain, including market trend analysis, product design and development, raw material sourcing, production and quality control, and logistics management serving customers located in the European and North American markets. It also sells its own branded apparel products under the brand "Les100Ciels" through retail stores in the UK and UAE as well as the e-commerce platform, www.les100ciels.com.

NCI is dedicated to minimizing its environmental footprint by implementing various eco-friendly practices. It prioritizes recycling, clean processes, and traceable sourcing as part of its commitment to reducing environmental impact. Additionally, NCI actively seeks sustainable solutions throughout the garment production process, aiming to meet the needs of its customers in an environmentally responsible manner. For more information, visit the Company's website at www.neo-ig.com.

About D. Boral Capital

D. Boral Capital LLC is a premier, relationship-driven global investment bank headquartered in New York. The firm is dedicated to delivering exceptional strategic advisory and tailored financial solutions to middle-market and emerging growth companies. With a proven track record, D. Boral Capital provides expert guidance to clients across diverse sectors worldwide, leveraging access to capital from key markets, including the United States, Asia, Europe, the Middle East, and Latin America.

A recognized leader on Wall Street, D. Boral Capital has successfully aggregated approximately $35 billion in capital since its inception in 2020, executing ~400 transactions across a broad range of investment banking products.

Forward Looking Statement

Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "potential," "continue" or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's Registration Statement and other filings with the SEC, which are available for review at www.sec.gov.

For more information, please contact:

D. Boral Capital LLC
Email: [email protected]
Telephone: +1 (212) 970-5150

SOURCE: D. Boral Capital

, /PRNewswire/ -- Evolent Health, Inc. (NYSE: EVH) ("Evolent" or the "Company"), a company that specializes in better health outcomes for people with complex conditions through proven solutions that make health care simpler and more affordable, today announced financial results for the three months ended December 31, 2025.

Seth Blackley, Co-Founder and Chief Executive Officer of Evolent stated, "In 2025 we executed on our earnings targets, continued to grow market share, renewed customers at strong rates, and continued the migration of Performance Suite clients to our enhanced Performance Suite contract model. We believe our total forecasted revenue growth of approximately 30% for 2026 demonstrates the power and durability of Evolent's specialty model. While the addition of $900 million in new Performance Suite revenue in 2026, as well as the impact of significant health plan customer membership decreases in their Exchange products, create an impact on Adjusted EBITDA in the first half of the year, we believe our year-end 2026 margins should quickly step-up as new contract reserving effects ease throughout the year and our operating cost reduction plan ramps up across 2026.  Most importantly, we believe we will continue to see a sizable market opportunity as health plans turn to Evolent for help in balancing quality and affordability for their members as they navigate oncology, cardiology, and musculoskeletal conditions."

Highlights for the three months and year ended December 31, 2025 include (dollars in thousands, except for average PMPM fees and revenue per case):

For the Three Months
Ended December 31, 2025

For the Year Ended
December 31, 2025

Financial Results:

Revenue

$                           468,719

$                           1,876,229

Net loss attributable to common shareholders of Evolent Health, Inc.

$                          (429,131)

$                             (579,401)

Net loss margin

(91.6) %

(30.9) %

Adjusted EBITDA

$                             37,793

$                              151,155

Adjusted EBITDA Margin

8.1 %

8.1 %

Average Lives on Platform/Cases

Performance Suite

6,475

6,482

Specialty Technology and Services Suite

79,677

77,983

Administrative Services

1,218

1,221

Cases

14

53

Average Unique Members

40,038

40,425

Average PMPM Fees/ Revenue per Case

Performance Suite

$                               13.87

$                                  14.48

Specialty Technology and Services Suite

0.40

0.38

Administrative Services

15.27

15.47

Cases

3,537

3,168

Medical Expense Ratio

90.2 %

80.5 %

Medical Expense Ratio excluding Evolent Care Partners

94.8 %

89.0 %

The rising medical costs impacting health plans continue to drive robust demand for Evolent's complex specialty care solutions.

Financial Results of Evolent Health, Inc.

In our earnings releases, prepared remarks, conference calls, slide presentations and webcasts, we may use or discuss  financial measures not prepared in accordance with generally accepted accounting principles ("GAAP"). Definitions of the non-GAAP financial measures as well as reconciliations of non-GAAP financial measures to the most directly comparable GAAP financial measures are presented herein. See Non-GAAP Financial Measures for more information.

Reported Results

Evolent Health, Inc. reported the following results in accordance with GAAP (dollars in thousands, except for per share data):

For the Three Months Ended
December 31,

For the Year Ended
December 31,

2025

2024

2025

2024

Revenue

$      468,719

$   646,542

$ 1,876,229

$   2,554,741

Cost of revenue

$      371,466

$   570,831

$ 1,476,346

$   2,187,388

Selling, general and administrative expenses

$        72,656

$     47,701

$    303,866

$      263,050

Net loss attributable to common shareholders of Evolent Health, Inc.

$     (429,131)

$    (30,615)

$   (579,401)

$       (93,454)

Net loss margin

(91.6) %

(4.7) %

(30.9) %

(3.7) %

Loss per share attributable to common shareholders of Evolent Health, Inc.

Basic and diluted

$           (3.84)

$        (0.27)

$         (5.07)

$           (0.81)

Total cash and cash equivalents was $151.9 million as of December 31, 2025.

Adjusted Results

Evolent Health, Inc. reported the following adjusted results (dollars in thousands, except for per share data):

For the Three Months
Ended December 31,

For the Year Ended
December 31,

2025

2024

2025

2024

Adjusted cost of revenue

$   371,183

$    569,578

$   1,473,115

$   2,182,806

Adjusted selling, general and administrative expenses

$     59,743

$      54,352

$      251,959

$      211,475

Adjusted EBITDA

$     37,793

$      22,612

$      151,155

$      160,460

Adjusted EBITDA margin

8.1 %

3.5 %

8.1 %

6.3 %

Adjusted income (loss) attributable to common shareholders

$       8,376

$      (2,526)

$        10,440

$        47,406

Adjusted income (loss) per share attributable to common shareholders:

Basic

$         0.08

$        (0.02)

$           0.09

$           0.41

Business Outlook        

The Company does not believe it can meaningfully reconcile guidance for non-GAAP Adjusted EBITDA to net income (loss) attributable to common shareholders of Evolent Health, Inc. because the Company cannot provide guidance for the more significant reconciling items between net income (loss) attributable to common shareholders of Evolent Health, Inc. and Adjusted EBITDA without unreasonable effort. This is due to the fact that future period non-GAAP guidance includes adjustments for items not indicative of our core operations, and as a result from changes to our business due to transactions and other events. Such items may, from time to time, include change in tax receivable agreement liability, other refinancing fees, gain (loss) from equity method investees, gain (loss) on repayment/extinguishment of debt, other income (expense), gain (loss) on disposal of non-strategic assets, goodwill impairments, right-of-use asset impairments, gain (loss) on lease terminations, stock-based compensation expense, severance costs and transaction-related costs. Such adjustments may be affected by changes in ongoing assumptions, judgments, as well as nonrecurring, unusual or unanticipated charges, expenses or gains (losses) or other items that may not directly correlate to the underlying performance of our business operations. The exact amount of these adjustments is not currently determinable but may be significant.

Full Year 2026 Guidance

Incorporating its year-to-date performance, the Company now expects revenue for the full year ending December 31, 2026 to be in the range of approximately $2.4 billion to $2.6 billion and Adjusted EBITDA to be in the range of approximately $110 million to $140 million, respectively. The Company continues to experience strong customer retention and late-stage pipeline activity.

Additional Outlook Information

The Company expects to deploy approximately $25 million to $35 million in cash for capitalized software development during 2026.

This "Business Outlook" section contains forward-looking statements, and actual results may differ materially. Factors that may cause actual results to differ materially from our current expectations in addition to those set forth above are set forth below in "Forward Looking Statements - Cautionary Language" and Evolent Health, Inc.'s filings with the Securities and Exchange Commission ("SEC").

Web and Conference Call Information

Evolent Health, Inc. will hold a conference call to discuss its financial performance and related matters this evening, February 24, 2026, at 5:00 p.m., Eastern Time. To listen to a live broadcast via the internet and view the accompanying materials, please visit the Company's Investor Relations website at http://ir.evolent.com. To participate by telephone, dial (855) 940-9467, or (412) 317-6034 for international callers, and ask to join the "Evolent Health call." Participants are advised to dial in at least fifteen minutes prior to the call to register. The call will be archived on the Company's website for one week and will be available beginning later this evening. Evolent invites all interested parties to attend the conference call.

About Evolent

Evolent specializes in better health outcomes for people with complex conditions through proven solutions that make health care simpler and more affordable. Evolent serves a national base of leading payers and providers and is consistently recognized as a top place to work in health care nationally. Learn more about how Evolent is changing the way health care is delivered by visiting evolent.com.

Contacts:

[email protected]

Definitions

Revenue Agreements

Evolent reports the number of new revenue agreements signed for Performance Suite, Specialty Technology and Services Suite, Administrative Services and Case-based products. A new revenue agreement includes incremental revenue to the Company reflecting contracts for services to both new partner entities, corporations or health plans as well as additional sales to existing partners. New revenue agreements may include incremental services, geographic, or line of business expansions or a combination thereof. The conversion of Specialty Technology and Services Suite contracts to Performance Suite are also included in this definition. The Company does not count renewals for existing scope, growth of membership within an existing contract scope or transaction-related purchase agreements, if applicable, in this metric. 

Lives on Platform and Per Member Per Month ("PMPM") Fee

Performance Suite Lives on Platform are calculated by summing monthly members covered for specialty care services for contracts not under ASO arrangements, plus members managed by Complex Care in capitation arrangements and divided by the number of months in the period. Specialty Technology and Services Suite Lives on Platform are calculated by summing monthly members covered for oncology, cardiology, musculoskeletal, advanced imaging and other diagnostic specialty care services for contracts under ASO arrangements divided by the number of months in the period. Administrative Services Lives on Platform are calculated by summing monthly members covered for administrative services implementation and core performance services divided by the number of months in the period. Cases are calculated by summing the number of individuals receiving services through our surgery management and advanced care planning programs in a given period. Members covered for more than one category are counted in each category.

Performance Suite Average PMPM fee is defined as revenue pertaining to our Performance Suite during the period reported divided by Performance Suite Lives on Platform for the period divided by the number of months in the period. Specialty Technology and Services Suite Average PMPM fee is defined as revenue pertaining to the Specialty Technology and Services Suite during the period reported divided by Specialty Technology and Services Suite Lives on Platform for the period divided by the number of months in the period. Administrative Services Average PMPM fee is defined as revenue pertaining to the Administrative Services during the period reported divided by the Administrative Services Lives on Platform for the period divided by the number of months in the period. Revenue per Case is calculated by the revenue pertaining to surgery management and advanced care planning programs divided by the number of cases for a given period.

Average Unique Members are calculated by summing members covered by our Performance Suite, Specialty Technology and Services Suite and Administrative Services. In cases where partners cross between multiple solutions, we only capture members from the solution with the maximum number of members.

Management uses Lives on Platform, PMPM fees, Cases, Revenue per Case and Average Unique Members because we believe that they provide insight into the unit economics of our services. We believe that these measures are also useful to investors because they allow further insight into the period over period operational performance.

Medical Expense Ratio

Medical Expense Ratio ("MER") is a key performance indicator used by management for purposes of monitoring operating performance and is calculated as total claims incurred divided by GAAP revenue related to our Performance Suite. Management believes MER is useful to investors because it provides insight into the efficiency with which medical costs are managed relative to revenue and helps identify trends in the underlying performance. For periods prior to the consummation of the sale of Evolent Care Partners, we present MER excluding revenues from Evolent Care Partners.

EVOLENT HEALTH, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)  
( in thousands, except per share data)

For the Three Months
Ended December 31,

For the Year Ended
December 31,

2025

2024

2025

2024

Revenue

$     468,719

$   646,542

$ 1,876,229

$   2,554,741

Expenses

Cost of revenue

371,466

570,831

1,476,346

2,187,388

Selling, general and administrative expenses

72,656

47,701

303,866

263,050

Depreciation and amortization expenses

45,037

29,296

115,851

118,370

Loss on lease termination

—

18,922

676

18,922

Gain on disposal of non-strategic assets

(14,867)

—

(14,867)

—

Right-of-use assets impairment

—

2,588

—

2,588

Goodwill impairment

398,000

—

398,000

—

Change in fair value of contingent consideration

4,658

(4,200)

6,495

4,908

Total operating expenses

876,950

665,138

2,286,367

2,595,226

Operating income (loss)

(408,231)

(18,596)

(410,138)

(40,485)

Interest income

868

830

4,190

5,544

Interest expense

(19,010)

(6,720)

(57,471)

(24,722)

Gain (loss) from equity method investees

31

182

365

(3,441)

Loss on extinguishment of debt, net

(3,914)

—

(3,483)

—

Loss on option exercise

—

—

(52,544)

—

Extinguishment of Series A Preferred Stock and other refinancing fees

—

—

(15,000)

—

Change in tax receivables agreement liability

(804)

—

(804)

(173)

Other expense, net

252

381

249

241

Loss before income taxes

(430,808)

(23,923)

(534,636)

(63,036)

Benefit from income taxes

(1,677)

(1,121)

(126)

(1,413)

Loss before preferred dividends and accretion of Series A Preferred Stock including excise tax

(429,131)

(22,802)

(534,510)

(61,623)

Dividends and accretion of Series A Preferred Stock including excise tax

—

(7,813)

(44,891)

(31,831)

Net loss attributable to common shareholders of Evolent Health, Inc.

$    (429,131)

$   (30,615)

$ (579,401)

$      (93,454)

Loss per common share

Basic and diluted

$         (3.84)

$       (0.27)

$      (5.07)

$         (0.81)

Weighted-average common shares outstanding

Basic and diluted

111,612

115,032

114,208

114,682

Comprehensive loss

Net loss attributable to common shareholders of Evolent Health, Inc.

$    (429,131)

$   (30,615)

$ (579,401)

$      (93,454)

Other comprehensive loss, net of taxes, related to:

Foreign currency translation adjustment

(248)

(386)

(871)

(496)

Total comprehensive loss attributable to common shareholders of Evolent Health, Inc.

$    (429,379)

$   (31,001)

$ (580,272)

$      (93,950)

EVOLENT HEALTH, INC.

CONSOLIDATED BALANCE SHEETS

(in thousands, except share data)

December 31,

2025

2024

ASSETS

Current assets:

Cash and cash equivalents

$              151,856

$             104,203

Restricted cash

26,134

59,295

Accounts receivable, net

309,861

414,681

Prepaid expenses and other current assets

18,521

28,938

Total current assets

506,372

607,117

Restricted cash

2,706

14,998

Investments and equity method investees

8,966

8,588

Property and equipment, net

80,785

73,151

Right-of-use assets - operating

4,373

6,134

Prepaid expenses and other noncurrent assets

3,078

3,569

Contract cost assets

13,537

13,378

Intangible assets, net

584,937

680,156

Goodwill

694,482

1,137,320

Total assets

$           1,899,236

$          2,544,411

LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS' EQUITY

Liabilities

Current liabilities:

Accounts payable

$                59,776

$               96,025

Accrued liabilities

65,755

66,361

Operating lease liability - current

15,343

26,717

Accrued compensation and employee benefits

50,987

33,719

Deferred revenue

1,203

2,507

Short-term debt, net

—

171,467

Reserve for claims and performance - based arrangements

192,196

318,705

Total current liabilities

385,260

715,501

Long-term debt, net

970,537

490,520

Other long-term liabilities

8,012

2,984

Tax receivables agreement liability

108,909

108,105

Operating lease liabilities - noncurrent

3,818

24,969

Deferred tax liabilities, net

7,506

10,900

Total liabilities

1,484,042

1,352,979

Commitments and Contingencies

Mezzanine Equity

Preferred class A common stock - $0.01 par value; 50,000,000 shares authorized; 0 and 175,000 issued, respectively

—

190,173

Shareholders' Equity

Class A common stock - $0.01 par value; 750,000,000 shares authorized; 117,603,806 and 116,575,773 shares issued, respectively

1,176

1,166

Additional paid-in-capital

1,793,398

1,803,786

Accumulated other comprehensive loss

(2,624)

(1,753)

Retained earnings (accumulated deficit)

(1,315,327)

(780,817)

Treasury stock, at cost; 5,971,712 and 1,537,582 shares issued, respectively

(61,429)

(21,123)

Total shareholders' equity

415,194

1,001,259

Total liabilities, mezzanine equity and shareholders' equity

$           1,899,236

$          2,544,411

EVOLENT HEALTH, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

 (in thousands)

For the Year Ended December 31,

2025

2024

Cash Flows Provided by Operating Activities

Loss before preferred dividends and accretion of Series A Preferred Stock including excise tax

$           (534,510)

$             (61,623)

Adjustments to reconcile net loss to net cash and restricted cash provided by operating activities:

Change in fair value of contingent consideration

6,495

4,908

Gain on disposal of non-strategic assets

(14,867)

—

Loss (gain) from equity method investees

(365)

3,441

Extinguishment of Series A Preferred Stock and other refinancing fees

15,000

—

Loss on option exercise

52,544

—

Depreciation and amortization expenses

115,851

118,370

Stock-based compensation expense

39,739

39,746

Deferred tax benefit

(2,982)

(2,989)

Amortization of contract cost assets

6,794

4,798

Amortization of deferred financing costs

7,804

3,547

Goodwill impairment

398,000

—

Loss on extinguishment/repayment of debt, net

3,483

—

Right-of-use asset impairment

—

2,588

Loss on lease termination

676

18,922

Change in tax receivables agreement liability

804

173

Right-of-use operating assets

1,761

3,261

Other current operating cash inflows (outflows), net

—

180

Changes in assets and liabilities, net of acquisitions:

Accounts receivable, net and contract assets

73,703

32,062

Prepaid expenses and other current and non-current assets

4,988

4,510

Contract cost assets

(6,953)

(6,056)

Accounts payable

6,639

4,248

Accrued liabilities

2,957

(24,198)

Operating lease liabilities

(33,201)

(14,983)

Accrued compensation and employee benefits

17,268

(22,675)

Deferred revenue

(1,304)

(3,469)

Reserve for claims and performance-based arrangements

(126,509)

(85,343)

Other long-term liabilities

5,028

(653)

Net cash and restricted cash provided by operating activities

38,843

18,765

Cash Flows Used In Investing Activities

Cash paid for asset acquisitions and business combinations

(57,443)

(30,725)

Disposal of non-strategic assets and divestiture of discontinued operations, net

91,312

—

Return of equity method investments

986

7

Purchases of investments and contributions to equity method investees

(1,000)

(7,321)

Investments in internal-use software and purchases of property and equipment

(34,088)

(24,893)

Net cash and restricted cash used in investing activities

(233)

(62,932)

Cash Flows Used In Financing Activities

Changes in working capital balances related to claims processing

(42,888)

43,537

Payment of contingent consideration

(1,750)

(70,355)

Proceeds from stock option exercises

—

3,461

Proceeds from issuance of long-term debt, net of offering costs

408,047

58,576

Repayment of long-term debt

(342,984)

—

Repurchase of common stock

(39,996)

—

Payment of preferred dividends

(11,127)

(20,085)

Taxes withheld and paid for vesting of equity awards

(5,226)

(15,699)

Net cash and restricted cash used in financing activities

(35,924)

(565)

Effect of exchange rate on cash and cash equivalents and restricted cash

(486)

(229)

Net increase (decrease) in cash and cash equivalents and restricted cash

2,200

(44,961)

Cash and cash equivalents and restricted cash as of beginning-of-period

178,496

223,457

Cash and cash equivalents and restricted cash as of end-of-period

$            180,696

$            178,496

Non-GAAP Financial Measures

The Company views the following activities as integral to understanding its non-GAAP financial measures:

Repositioning costs include severance, termination benefits and related payroll taxes of $1.8 million, dedicated employee costs of $1.2 million, third-party professional services of $4.1 million and office space consolidation costs of $3.5 million for the year ended December 31, 2024. Repositioning costs are not part of Evolent's normal course of business and are incurred when there is a business reason to enact a repositioning plan. Adjusting for these costs gives a better view of Evolent's normal operating costs. We only adjust costs that (i) are included within selling, general and administrative expenses on the consolidated statement of operations and comprehensive income (loss), (ii) meet the criteria outlined within the respective repositioning plan, and (iii) do not relate to normal business operations or ongoing activities. Our 2023 Repositioning Plan concluded in the second quarter of 2024. Dedicated employee costs primarily include project management and technology staff costs needed to migrate acquired businesses to Evolent's integrated technology platform and costs related to the consolidation of internal operations, strategies, processes and platforms. Dedicated employee costs are limited to employees that will have no role in ongoing operations and have no planned role at Evolent once the repositioning activities are completed. Professional services costs primarily relate to services provided by a third-party vendor to review our operating model and organizational design in order to improve our profitability, create value through our solutions and invest in strategic opportunities in future periods. Office space consolidation costs include early termination penalties and associated expenses. Transaction-related costs include but are not limited to integration consultants, investor outreach services, external valuation and accounting advisory services, legal fees, transaction bonuses paid to certain employees and other transaction related costs. We adjust these costs because transaction-related costs are expensed when incurred and are not indicative of Evolent's normal operating costs. Purchase accounting adjustments include amortization expense on intangible assets such as corporate trade names, customer, relationships, provider network contracts and existing technology related to acquisitions and business combinations. We believe it is important for the reader to understand that revenue generated from acquisitions is included within revenue in calculating adjusted income to common shareholders however amortization expense from acquired intangible assets is excluded in determining adjusted income to common shareholders because it does not directly relate to the services performed for the Company's customers. In addition to disclosing financial results that are determined in accordance with GAAP, we present Adjusted Cost of Revenue, Adjusted Selling, General and Administrative Expenses, Adjusted EBITDA, Adjusted EBITDA Margin and Adjusted Income (Loss) Attributable to Common Shareholders, which are all non-GAAP financial measures, as supplemental measures to help investors evaluate our fundamental operational performance.

Adjusted Cost of Revenue and Adjusted Selling, General and Administrative Expenses are defined as cost of revenue and selling, general and administrative expenses calculated in accordance with GAAP, respectively, adjusted to exclude the impact of stock-based compensation expenses, severance costs, transaction-related costs and repositioning costs. Management believes Adjusted Cost of Revenue and Adjusted Selling, General and Administrative Expenses are useful to investors, because they facilitate an understanding of our long-term operational costs while removing the effect of costs that are not a representative component of the day-to-day operating performance of our business, and are useful to management as supplemental performance measures.

Adjusted EBITDA is defined as net loss attributable to common shareholders of Evolent Health, Inc. before interest income, interest expense, benefit from income taxes, depreciation and amortization expenses, change in the tax receivable agreement liability, extinguishment of Series A Preferred Stock and other refinancing fees, gain (loss) from equity method investees, loss on extinguishment/repayment of debt, loss on option exercise, change in fair value of contingent consideration, other income (expense), net, gain on disposal of non-strategic assets, goodwill impairment, right-of-use assets impairment, loss on lease termination, repositioning costs, stock-based compensation expense, severance costs, dividends and accretion of Series A Preferred Stock including excise tax and transaction-related costs.

Management believes that Adjusted EBITDA is useful to investors because it allows investors to evaluate the Company's performance using tools that management uses to evaluate past performance and prospects for future performance. Management also uses Adjusted EBITDA as a supplemental performance measure because the removal of adjustments to net loss attributable to common shareholders of Evolent Health, Inc. allows us to focus on operational performance.

Adjusted EBITDA Margin is defined Adjusted EBITDA divided by Revenue. Management believes that this measure is useful to investors because it allows further insight into the period over period operational performance. Management also uses Adjusted EBITDA Margin as a supplemental performance measure because it allows the investor to understand operational performance compared to revenues over time.

Adjusted Income (Loss) Attributable to Common Shareholders is defined as net loss attributable to common shareholders of Evolent Health, Inc. adjusted to exclude gain (loss) from equity method investees, other income (expense), net, benefit from income taxes, change in fair value of contingent consideration, extinguishment of Series A Preferred Stock and other refinancing fees, loss on option exercise, loss on extinguishment/repayment of debt, change in tax receivable agreement liability, purchase accounting adjustments, gain on disposal of non-strategic assets, goodwill impairment, right-of-use asset impairments, loss on lease termination, repositioning costs, stock-based compensation expense, severance costs, transaction-related costs and the tax impact of non-GAAP adjustments.

Adjusted Income (Loss) per Share Attributable to Common Shareholders is defined as Adjusted Income (Loss) Attributable to Common Shareholders divided by Weighted-Average Common Shares, and reflects the adjustments made in those non-GAAP measures.

Management believes that Adjusted Income (Loss) Attributable to Common Shareholders and Adjusted Income (Loss) per Share Attributable to Common Shareholders are useful to investors because they provide a measure of the Company's net profitability on a more comparable basis to historical periods and provide a more meaningful basis for forecasting future performance.

These adjusted measures do not represent and should not be considered as alternatives to GAAP measurements, and our calculations thereof may not be comparable to similarly entitled measures reported by other companies. A reconciliation of these adjusted measures to their most comparable GAAP financial measures is presented in the tables below. We believe these measures are useful across time in evaluating our fundamental core operating performance.

Evolent Health, Inc.

Reconciliation of Adjusted Results of Operations

(in thousands, unaudited)

Reconciliation of Adjusted Cost of Revenue to

Cost of Revenue

For the Three Months Ended December 31,

For the Year Ended December 31,

2025

2024

2025

2024

Cost of revenue

$    371,466

$    570,831

$ 1,476,346

$ 2,187,388

Less:

Stock-based compensation

283

1,253

3,231

4,582

Adjusted cost of revenue

$    371,183

$    569,578

$ 1,473,115

$ 2,182,806

Reconciliation of Adjusted Selling, General and Administrative Expenses to

Selling, General and Administrative Expenses

For the Three Months Ended December 31,

For the Year Ended December 31,

2025

2024

2025

2024

Selling, general and administrative expenses

$      72,656

$      47,701

$    303,866

$    263,050

Less:

Stock-based compensation

2,113

(7,368)

36,508

35,164

Severance costs

6,802

17

10,147

2,877

Transaction-related costs

3,998

700

5,252

2,934

Repositioning costs

—

—

—

10,600

Adjusted selling, general and administrative expenses

$      59,743

$      54,352

$    251,959

$    211,475

Evolent Health, Inc.

Reconciliation of Medical Expense Ratio

(in thousands)

For the Three
Months Ended
December 31, 2025

For the Year Ended
December 31, 2025

Revenue

Performance Suite

$               269,463

$            1,127,336

Specialty Technology and Services Suite

95,743

353,228

Administrative Services

55,801

226,683

Cases

47,712

168,982

Total revenue

468,719

1,876,229

Less:

Revenue from ECP

13,030

107,848

Performance Suite revenue less revenue from Evolent Care Partners

256,433

1,019,488

Total claims incurred

243,157

907,304

Medical expense ratio

90.2 %

80.5 %

Medical expense ratio excluding Evolent Care Partners

94.8 %

89.0 %

Evolent Health, Inc.

Reconciliation of Adjusted EBITDA to Net Income (Loss)

Attributable to Common Shareholders of Evolent Health, Inc.

(in thousands)

(unaudited)

For the Three Months
Ended December 31,

For the Year Ended
December 31,

2025

2024

2025

2024

Net loss attributable to common shareholders of Evolent Health, Inc.

$  (429,131)

$    (30,615)

$(579,401)

$(93,454)

Net loss margin

(91.6) %

(4.7) %

(30.9) %

(3.7) %

Less:

Interest income

868

830

4,190

5,544

Interest expense

(19,010)

(6,720)

(57,471)

(24,722)

Benefit from income taxes

1,677

1,121

126

1,413

Depreciation and amortization expenses

(45,037)

(29,296)

(115,851)

(118,370)

Change in tax receivable agreement liability

(804)

—

(804)

(173)

Extinguishment of Series A Preferred Stock and other refinancing fees

—

—

(15,000)

—

Gain (loss) from equity method investees

31

182

365

(3,441)

Loss on extinguishment/repayment of debt

(3,914)

—

(3,483)

—

Loss on option exercise

—

—

(52,544)

—

Change in fair value of contingent consideration

(4,658)

4,200

(6,495)

(4,908)

Other income (expense), net

252

381

249

241

Gain on disposal of non-strategic assets

14,867

—

14,867

—

Goodwill impairment

(398,000)

—

(398,000)

—

Right-of-use assets impairment

—

(2,588)

—

(2,588)

Loss on lease termination

—

(18,922)

(676)

(18,922)

Repositioning costs

—

—

—

(10,600)

Stock-based compensation expense

(2,396)

6,115

(39,739)

(39,746)

Severance costs

(6,802)

(17)

(10,147)

(2,877)

Dividends and accretion of Series A Preferred Stock including excise tax

—

(7,813)

(44,891)

(31,831)

Transaction-related costs

(3,998)

(700)

(5,252)

(2,934)

Adjusted EBITDA

$   37,793

$     22,612

$ 151,155

$ 160,460

Adjusted EBITDA margin

8.1 %

3.5 %

8.1 %

6.3 %

 Evolent Health, Inc.

Reconciliation of Adjusted Income (Loss) Attributable to Common Shareholders to

Net Loss Attributable to Common Shareholders

(in thousands, except per share data)

(unaudited)

For the Three Months
Ended December 31,

For the Year Ended
December 31,

2025

2024

2025

2024

Net loss attributable to common shareholders of Evolent Health, Inc.

$    (429,131)

$      (30,615)

$   (579,401)

$     (93,454)

Less:

Gain (loss) from equity method investees

31

182

365

(3,441)

Other income (expense), net

252

381

249

241

Benefit from income taxes

1,677

1,121

126

1,413

Change in fair value of contingent consideration

(4,658)

4,200

(6,495)

(4,908)

Extinguishment of Series A Preferred Stock and other refinancing fees

—

—

(15,000)

—

Loss on option exercise

—

—

(52,544)

—

Loss on extinguishment/repayment of debt

(3,914)

—

(3,483)

—

Change in tax receivable agreement liability

(804)

—

(804)

(173)

Purchase accounting adjustments

(35,990)

(17,189)

(76,083)

(68,926)

Gain on disposal of non-strategic assets

14,867

—

14,867

—

Goodwill impairment

(398,000)

—

(398,000)

—

Right-of-use asset impairment

—

(2,588)

—

(2,588)

Loss on lease termination

—

(18,922)

(676)

(18,922)

Repositioning costs

—

—

—

(10,600)

Stock-based compensation expense

(2,396)

6,115

(39,739)

(39,746)

Severance costs

(6,802)

(17)

(10,147)

(2,877)

Transaction-related costs

(3,998)

(700)

(5,252)

(2,934)

Tax impact (1)

2,228

(672)

2,775

12,601

Adjusted income (loss) attributable to common shareholders

$         8,376

$        (2,526)

$      10,440

$      47,406

Loss per share attributable to common shareholders

Basic

$         (3.84)

$         (0.27)

$        (5.07)

$        (0.81)

Adjusted income (loss) per share attributable to common shareholders

Basic

$           0.08

$         (0.02)

$          0.09

$          0.41

Weighted-average common shares

Basic

111,612

115,032

114,208

114,682

————————

(1)  Non-GAAP financial information for the periods shown are adjusted for an assumed provision for income taxes based on our statutory federal tax rate of 21%. Due to the differences in the tax treatment of items excluded from non-GAAP earnings, our estimated tax rate on non-GAAP income may differ from our GAAP tax rate.

FORWARD-LOOKING STATEMENTS - CAUTIONARY LANGUAGE

Certain statements made in this report and in other written or oral statements made by us or on our behalf are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 ("PSLRA"). A forward-looking statement is a statement that is not a historical fact and, without limitation, includes any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain words like: "believe," "anticipate," "expect," "estimate," "aim," "predict," "potential," "continue," "plan," "project," "will," "should," "shall," "may," "might" and other words or phrases with similar meaning in connection with a discussion of future operating or financial performance. In particular, these include statements relating to our ability to weather current dynamics, continue to expand our footprint, future actions, trends in our businesses, prospective services, new partner additions/expansions, our guidance and business outlook and future performance or financial results, and the closing of pending transactions and the outcome of contingencies, such as legal proceedings. We claim the protection afforded by the safe harbor for forward-looking statements provided by the PSLRA.

These statements are only predictions based on our current expectations and projections about future events. Forward-looking statements involve risks and uncertainties that may cause actual results, level of activity, performance or achievements to differ materially from the results contained in the forward-looking statements. Risks and uncertainties that may cause actual results to vary materially, some of which are described within the forward-looking statements, include, among others:

the significant portion of revenue we derive from our largest partners, and the potential loss, termination or renegotiation of our relationship or contract with any significant partner, or multiple partners in the aggregate; the increasing number of risk-sharing arrangements we enter into with our partners; the growth and success of our partners and certain revenues from our engagements, which are difficult to predict and are subject to factors outside of our control, including governmental funding reductions and other policy changes; our ability to accurately predict our exposure under performance-based contracts; failure by our customers to provide us with accurate and timely information; our ability to recover the upfront costs in our partner relationships and develop our partner relationships over time; our ability to attract new partners and successfully capture new opportunities; our ability to offer new and innovative products and services and our ability to keep pace with industry standards, technology and our partners' needs; our ability to maintain and enhance our reputation and brand recognition; our dependency on our key personnel, and our ability to attract, hire, integrate and retain key personnel; risks related to completed and future acquisitions, investments, alliances and joint ventures, which could divert management resources, result in unanticipated costs or dilute our stockholders; our ability to effectively manage our growth and maintain an efficient cost structure; risks related to managing our offshore operations and cost reduction goals; our ability to estimate the size of our target markets for our services; consolidation in the health care industry; competition which could limit our ability to maintain or expand market share within our industry; risks related to audits by CMS and other governmental payers and actions, including whistleblower claims under the False Claims Act; evolution of the healthcare regulatory and political framework; restrictions on the manner in which we access personal data and penalties as a result of privacy and data protection laws; data loss or corruption due to failures or errors in our systems and service disruptions at our data centers; liabilities and reputational risks related to our ability to safeguard the security and privacy of confidential data; our ability to obtain, maintain and enforce intellectual property rights and protect our trademarks and trade names, including from third parties alleging that we are infringing or violating their intellectual property rights; our ability to protect the confidentiality of our trade secrets; risks associated with our use of artificial intelligence ("AI") and machine learning models; our use of "open-source" software; our reliance on third parties and licensed technologies; restrictions on our ability to use, disclose, de-identify or license data and to integrate third-party technologies; our reliance on Internet infrastructure, bandwidth providers, data center providers, other third parties and our own systems for providing services to our partners and operating our business; our ability to achieve profitability in the future; the impact of additional goodwill and intangible asset impairments on our results of operations; our obligations to make material payments to certain of our pre-IPO investors for certain tax benefits we may claim in the future; our obligations to make payments under the tax receivables agreement that may be accelerated or may exceed the tax benefits we realize; our ability to utilize benefits under the tax receivables agreement described herein; the terms of agreements between us and certain of our pre-IPO investors may contain different terms than comparable agreement we may enter into with unaffiliated third parties; our inability to obtain financing may result in a reduction in the ownership of our stockholders; the conditional conversion features, and changes in accounting treatment of the 2029 Notes and the 2031 Notes, which, if triggered, may adversely affect our financial condition and operating results; our ability to raise funds necessary to settle conversions of our notes in cash, to repurchase our notes for cash upon a fundamental change or to pay the redemption price for any notes we redeem; interest rate risk and other restrictive covenants under our First Lien Credit Agreement and the second lien credit agreement, by and among the Company, Evolent Health LLC, as borrower (the "Borrower"), certain subsidiaries of the Company, as guarantors, the lenders from time to time party thereto, and Ares Capital Corporation, as administrative agent and collateral agent; our indebtedness, our ability to service our indebtedness, and our ability to obtain additional financing on favorable terms or at all; interference with our ability to access the first and second lien credit facilities under our Credit Agreements; the potential volatility of our Class A common stock price; provisions in our certificate of incorporation and by-laws and provisions of Delaware law that discourage or prevent strategic transactions, including a takeover of us; provisions in our certificate of incorporation which could limit our stockholders' ability to obtain a favorable judicial forum for disputes with us or our directors, officers or employees; our intention not to pay cash dividends on our Class A common stock; the impact of litigation proceedings, government inquiries, reviews, audits or investigations; public health emergencies, epidemics, pandemics or contagious diseases; the cost of compliance with sustainability or other environmental, social responsibility or governance law and regulations; the impact of increasing inflationary pressures and rising consumer costs on our business; and our ability to utilize our net operating loss carry forwards and certain other tax attributes may be limited. The risks included here are not exhaustive. Although we believe the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, level of activity, performance or achievements. Our periodic reports and other documents filed with the SEC include additional factors that could affect our businesses and financial performance. Moreover, we operate in a rapidly changing and competitive environment. New risk factors emerge from time to time, and it is not possible for management to predict all such risk factors.

Further, it is not possible to assess the effect of all risk factors on our businesses or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. In addition, we undertake no obligation to publicly update any forward-looking statements to reflect events or circumstances that occur after the date of this release.

SOURCE Evolent Health, Inc.

Cava, the fast-casual Mediterranean restaurant chain, reported record-breaking revenue for fiscal year 2025 on Tuesday and forecast sales growth for fiscal year 2026.

"While there are a lot of factors around us that are creating pressures from a margin perspective, our model has allowed us to be very thoughtful and minimize price increases to our guests and to consumers in general, which really helps elevate our value perception," CFO Tricia Tolivar told CNBC.

Though the company said last quarter that it saw a pullback among younger consumers, Tolivar said that trend came to an end in the final three months of its fiscal year.

"We actually saw firming in that category, and overall [we're] seeing improvement in our trends across income cohorts, age cohorts, different parts of the country," Tolivar said. "And in fact, we believe there's a little bit of a bridge that we've been able to create in this K-shaped economy, where we want to be accessible for everyone, and we're doing our best to ensure that our amazing culinary and incredible hospitality is there for all customers across the country."

She added that some of Cava's best performing restaurants are in markets where median household incomes are lower.

The restaurant chain reported same-store sales up 0.5% in its fiscal fourth quarter, compared to Wall Street estimates of a 1.1% decline, according to StreetAccount. Much of that growth was thanks to menu prices and product mix, and partially offset by a 1.4% decline in foot traffic, the company said.

Tolivar said Cava raised prices about 1.7% at the beginning of 2025 and that 2026 would see "very modest increases."

The company also recorded 72 net new restaurant openings in fiscal 2025 for a total of 439 locations.

Here's how Cava performed in the period ended Dec. 28 compared with what Wall Street was expecting, based on a survey of analysts by LSEG:

Earnings per share: 4 cents vs. 3 cents expectedRevenue: $275 million vs. $268 million expectedIn the fourth quarter, Cava reported net income of $4.9 million, or 4 cents per share, compared to $78.6 million, or 66 cents per share, in the fourth quarter of 2024.

Revenue of $275 million marked an increase of nearly 21% year over year.

For the full fiscal year, the company reported record-breaking revenue surpassing $1 billion, a growth of more than 20% compared to the year prior. Same-restaurant sales for the year increased by 4%.

"Our momentum and market share gains underscore the strength of our value proposition and reflect how deeply our brand is resonating with today's increasingly discerning consumer," CEO Brett Schulman said in a statement.

For fiscal year 2026, Cava said it expects 74 to 76 net new restaurant openings, in addition to same-store sales growth of 3% to 5%.

Tolivar said the company is expecting strong results from its upcoming menu additions, including a salmon offering, which will mark Cava's first entry into seafood.

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Ethereum’s co-founder just made waves. Vitalik Buterin sold over 10,000 ETH this week while the cryptocurrency fights to hold above $1,800, sending ripples through trading circles and sparking fresh debate about what’s really going on behind the scenes.

The timing caught people off guard. Ethereum has been ping-ponging around that crucial $1,800 level for days now, with traders watching every move like hawks. Buterin’s sale hit the market right in the middle of this volatility, and it didn’t take long for the crypto community to start connecting dots. The transaction went through one of his known wallets – the same address that blockchain watchers have been tracking for months because, well, when Buterin moves money, people pay attention.

Market reaction was pretty swift.

Some traders freaked out about the timing, especially with everything feeling so uncertain right now. But others just shrugged it off as typical Buterin behavior – the guy’s been transparent about his holdings before, and he’s made similar moves in the past. Still, you can’t ignore the elephant in the room when someone with that much influence starts selling.

Ethereum’s been under serious pressure lately, and Buterin’s sale just adds more fuel to the fire. Macro trends aren’t helping, regulatory uncertainty keeps hanging over the whole crypto space like a dark cloud, and now you’ve got the co-founder himself lightening his bags. It’s not exactly the confidence boost ETH holders were hoping for.

The exact reasons behind Buterin’s decision remain murky. Last year he sold around 3,000 ETH and cited personal reasons plus funding for various projects. Maybe this is more of the same, or maybe there’s something else brewing that we don’t know about yet.

The Ethereum Foundation isn’t talking. They typically stay quiet about personal financial moves from their key people, so don’t expect any official statements explaining what’s going on. That silence just leaves more room for speculation to run wild.

Crypto analysts can’t seem to agree on what this means. Some think it shows Buterin lacks confidence in ETH’s short-term prospects – why else would you sell during such a critical price battle? Others figure he’s just rebalancing his portfolio or needs cash for new ventures. The truth probably lies somewhere in between. Related coverage: BitMine Drops Million on Ethereum.

But here’s the thing about crypto markets – when big names start moving serious money, volatility follows. Buterin’s not just any trader; he’s the guy who helped create Ethereum. His moves carry weight, whether he wants them to or not. And with 10,000 ETH changing hands, that’s roughly $18 million worth of selling pressure hitting the market.

Data from Etherscan confirmed the February 22 transfer. The ETH went straight to a cryptocurrency exchange, which pretty much confirms this was a sale rather than just moving funds around. Glassnode analysts noted the spike in exchange inflows that followed – usually that means more selling pressure is coming.

Trading volume surged after news of Buterin’s transaction broke. On February 23, ETH briefly dipped below that $1,800 support level, causing some panic among leveraged traders. The price bounced back, but the damage was done – everyone’s now watching Buterin’s wallets even more closely than before.

Buterin’s got a history of using his ETH for philanthropic causes. Back in 2021, he donated over $1 billion worth of Shiba Inu tokens to India’s Covid relief fund, making headlines worldwide. But there’s been no indication this latest sale was for charity – it seems more like a straightforward liquidation.

The community’s buzzing on Reddit and Twitter, with users throwing around theories about what’s driving Buterin’s decision. Some think it’s connected to upcoming Ethereum developments, though nobody’s provided concrete evidence. Others worry about a coordinated whale sell-off after Nansen reported increased activity from several large ETH holders over the past few days.

Ethereum whales have been moving substantial amounts recently. This trend has people wondering if there’s something bigger happening behind the scenes – maybe coordinated selling or market manipulation. So far, though, it’s all speculation without hard proof. See also: Ethereum Whales Control 70% as Half.

The network itself keeps evolving despite the price drama. Ethereum 2.0 development continues, with the community focused on scalability improvements and energy consumption reduction. Buterin remains vocal about Ethereum’s long-term vision, frequently discussing its potential to revolutionize finance and technology.

Regulatory pressure keeps mounting globally. Governments are considering stricter cryptocurrency oversight, adding uncertainty to an already volatile landscape. This regulatory scrutiny affects market sentiment and influences trading decisions across the board.

As of the latest data, ETH has managed to stabilize above $1,800, providing some relief to nervous investors. The situation remains fluid, with many keeping close tabs on any further developments that might impact market direction. Buterin’s trading activities will likely stay under intense scrutiny given his outsized influence in the crypto world.

Major cryptocurrency exchanges reported unusual trading patterns following Buterin’s sale. Binance and Coinbase both saw elevated ETH withdrawal rates, suggesting institutional players might be repositioning their holdings ahead of potential further volatility.

The Ethereum Improvement Proposal (EIP) roadmap shows several critical updates scheduled for Q2 2024. Layer 2 scaling solutions like Arbitrum and Optimism have gained traction recently, potentially reducing demand for mainnet ETH transactions and affecting long-term price dynamics.

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