Market Signal Briefing

"We can survive" with crude oil hovering around $80, but anything above that will hurt consumers, says Dale Smothers. If the commodity reaches $100 or higher, Dale expects pressures to pinch consumer staple stocks the most and will have much wider global implications.

Q4: 2026-03-10 Earnings SummaryEPS of -$0.05 misses by $0.01

 |

Revenue of

$14.19M

(-54.90% Y/Y)

beats by $250.84K

Ur-Energy Inc. (URE:CA) Q4 2025 Earnings Call March 11, 2026 3:00 PM EDT

Company Participants

David Ritchie - General Counsel & Corporate Secretary
Matthew Gili - President, CEO & Director
Ryan Schierman - Vice President of Regulatory Affairs
Steven Hatten - Chief Operating Officer
Valerie Kimball

Conference Call Participants

Soundarya Iyer - B. Riley Securities, Inc., Research Division
Anthony Taglieri - Canaccord Genuity Corp., Research Division
Jeffrey Grampp - Northland Capital Markets, Research Division
Joseph Reagor - ROTH Capital Partners, LLC, Research Division
Michael Kozak - Cantor Fitzgerald Canada Corporation, Research Division
Justin Chan - SCP Resource Finance LP, Research Division
Matthew Key - Texas Capital Securities, Research Division
Heiko Ihle - H.C. Wainwright & Co, LLC, Research Division

Presentation

Operator

Thank you for joining UR-Energy's Year-end 2025 Results Conference Call. [Operator Instructions] Please note this conference is being recorded.

I will now turn the call over to Alex Ritchie, General Counsel and Corporate Secretary of Ur-Energy.

David Ritchie
General Counsel & Corporate Secretary

Thank you. Today's discussion includes forward-looking statements within the meaning of applicable securities laws. Forward-looking statements are based on management's current expectations and assumptions, and involve known and unknown risks and uncertainties that could cause actual results to differ materially. We don't undertake to update or revise any forward-looking statements, except as required by law.

Slide 2 contains disclaimers that relate to forward-looking statements, risk factors and projections and cautionary notes to investors. Please consider these carefully, along with the risk factors in our annual report on Form 10-K that was filed on March 10, 2026.

I'll now turn the call over to our CEO and President, Matt Gili.

Matthew Gili
President, CEO & Director

Thank you, Alex, and thank you, everyone, for joining us today. Slide 1. As many of you know, I joined Ur-Energy midway through 2025. From my perspective, it was a year of strong execution and meaningful progress. Across our operations, development

Outperformed End-Markets by 150 Basis Points in 2025 Driven by MirrorEye® Growth of 69%
Drove Improvements in Material Cost of 80 bps and Quality-Related Costs of $6.6 Million in 2025
Issues 2026 Midpoint EBITDA Guidance of $22.5 Million and 2027 EBITDA Target of $44 Million

2025 Fourth Quarter Results

Sales of $205.2 million Net loss of $(76.9) million ((37.5)% of sales) Includes the after-tax impairment of Control Devices assets of $(16.7) million and income tax expense related to the recording of valuation allowances of $(44.5) million, net Adjusted net loss of $(14.7) million ((7.2)% of sales) Adjusted EBITDA of $3.4 million (1.7% of sales)  2026 Full-Year Guidance

Revenue guidance of $625 million - $650 million (midpoint of $638 million) represents growth of 4.2% vs. 2025 sales (excluding Control Devices) of $612 million
Guidance conservatively assumes flat end market growth based on current customer expectations (IHS third party production data expects 7.1% year-over-year growth based on our weighted-average OEM end markets) Expecting continued market outperformance led by MirrorEye growth of at least 45% Adjusted EBITDA of $20 million to $25 million (adjusted EBITDA margin of 3.2% to 3.8%) Contribution margin from incremental sales, continued performance improvements and structural cost reductions of $5 million expected to drive significant margin improvement.   2027 Financial Targets

2027 revenue target of at least $715 million driven by improving market conditions and continued growth in MirrorEye Incremental growth opportunities with our aftermarket, off-highway and Brazilian OEM businesses 2027 EBITDA expected of at least $44 million based on contribution on incremental revenue Continued material cost, quality-related cost and structural cost improvement could expand targeted 2027 EBITDA above contribution-based target. , /PRNewswire/ -- Stoneridge, Inc. (NYSE: SRI) today announced financial results for the fourth quarter ended December 31, 2025.

The Company announced fourth quarter sales of $205.2 million. Gross profit was $33.2 million (16.2% of sales) and adjusted gross profit was $33.2 million (16.2% of sales). Operating loss was $(29.5) million ((14.4)% of sales) while adjusted operating loss was $(6.7) million ((3.3)% of sales). Operating loss was adjusted to account for the pre-tax impairment of Control Devices assets of $(21.6) million among other non-recurring expenses as outlined in Exhibit 2. Net loss was $(76.9) million and adjusted net loss was $(14.7) million. Net loss was adjusted to account for the previously discussed impairment as well as the recording of tax valuation allowances of $44.5 million net, among other non-recurring expenses as outlined in Exhibit 4. Loss per share (EPS) was $(2.76) and adjusted EPS was $(0.53). Adjusted EBITDA was $3.4 million (1.7% of sales).

The Company announced full-year sales of $861.3 million, gross profit of $171.2 million (19.9% of sales) and adjusted gross profit of $173.6 million (20.2% of sales). Operating loss was $(38.6) million ((4.5)% of sales) and adjusted operating loss was $(4.3) million ((0.5)% of sales). Operating loss was adjusted to account for the pre-tax impairment of Control Devices assets of $(21.6) million among other non-recurring expenses as outlined in Exhibit 2. Net loss was $(102.8) million and adjusted net loss was $(31.9) million. Net loss was primarily adjusted to account for the previously discussed asset impairment as well as the recording of tax valuation allowances of $44.5 million net, among other non-recurring expenses as outlined in Exhibit 4. Loss per share was $(3.70) and adjusted EPS was $(1.15). Adjusted EBITDA was $25.0 million (2.9% of sales).

The exhibits attached hereto provide reconciliation details on normalizing adjustments of non-GAAP financial measures used in this press release.

Jim Zizelman, president and chief executive officer, commented, "In 2025, our focused growth strategy, material and quality-related cost improvements, and structural cost control enabled us to navigate another year marked by challenging macroeconomic conditions. Driven by continued momentum with our MirrorEye programs, we outperformed our weighted average end markets by 150 basis points compared to the prior year. MirrorEye sales were $111 million in 2025, which represents 69% growth compared to the prior year, driven by the continued ramp-up of OEM programs in Europe, improved take rates, and two new program launches in North America. Our continued efforts to improve manufacturing performance resulted in an 80-basis point improvement in material costs and an overall reduction in quality-related costs of $6.6 million. We are proud of our ability to continuously outperform our end markets, even in a challenging vehicle production environment, while minimizing the impact on our bottom line. Finally, our focus on reducing inventory, which declined by $18.7 million this year, drove adjusted free cash flow of $19 million." 

Zizelman continued, "Earlier this year, we completed the sale of our Control Devices segment. As a result of this sale, we will now focus our resources on our highest growth, highest return businesses and reduce overall organizational complexity leading to a clear, focused strategy for the Company. Natalia Noblet, as the named president and chief executive officer effective April 1st, will continue the strategic vision of the Company, advancing the rigor and discipline we have built over the last several years to drive long-term sustainable performance."

Natalia Noblet, incoming president and chief executive officer, commented, "As president and CEO, my priority will be to continue delivering superior customer value proposition through advanced technology solutions that solve critical challenges and help our customers achieve their long-term goals. Second, my team and I will be focused on excellence in execution to sharpen our strategy and drive financial performance. We will continue to embed rigor and discipline in all our processes to drive operational efficiency and continuous improvement. We are committed to organizational efficiencies to streamline costs to better align our structure with our global goals. Finally, when passion, processes, and priorities are aligned, a strong performance culture emerges — one that consistently delivers long-term value. As the outcome, we expect to drive market outperformance, margin expansion and cash flow conversion to create value for shareholders, customers and employees."

Noblet continued, "Our advanced product portfolio is directly aligned with industry trends including more automated and connected vehicle technologies, focused on advanced safety and vehicle efficiency. We have built a substantial and growing backlog of awarded programs, and we expect to continue this momentum in the coming years."

Fourth Quarter in Review

Electronics fourth quarter sales of $133.2 million decreased by 10.8%, relative to the fourth quarter of 2024. This was primarily driven by lower commercial vehicle production volumes in Europe and North America, partially offset by incremental MirrorEye sales and favorable foreign exchange translation. Fourth quarter adjusted operating margin of 0.2% decreased by 330 basis points compared to the fourth quarter of 2024, primarily driven by lower contribution on lower sales and higher overhead costs, partially offset by lower D&D due to higher customer reimbursements.

Stoneridge Brazil fourth quarter sales of $16.6 million increased by $4.1 million, or 33.3%, relative to the fourth quarter of 2024. This increase was primarily driven by increased OEM and aftermarket sales. Fourth quarter operating income of $1.3 million increased by approximately $1.2 million compared to the fourth quarter of 2024 primarily due to increased sales and favorable foreign exchange impact on material purchases.

Control Devices fourth quarter sales of $64.4 million increased by 2.0%, relative to the fourth quarter of 2024. This increase was primarily due to higher passenger vehicle sales in North America and China. Fourth quarter adjusted operating margin of (2.3)% improved by 20 basis points compared to the fourth quarter of 2024, primarily driven by lower SG&A and engineering costs.

Full-Year in Review

Electronics full-year sales of $551.4 million decreased by (7.3)% relative to 2024. This decrease was primarily driven by lower customer production volumes in the North American and European commercial vehicle end markets, partially offset by incremental MirrorEye sales driven by the ramp up of a previously launched European OEM program and two additional OEM program launches in North America. Full-year adjusted operating margin of 3.3% decreased by 140 basis points compared to 2024, driven by lower contribution from lower sales and higher overhead costs offset by lower direct material, quality-related and engineering costs.

Stoneridge Brazil full-year sales of $65.1 million increased by 29.9% relative to 2024. This increase was primarily due to OEM sales that almost doubled compared to 2024. Full-year operating margin of 8.6% increased by approximately 660 basis points compared to 2024, primarily driven by increased contribution from incremental sales.

Control Devices full-year sales of $277.9 million decreased by (6.2)% relative to 2024. This decrease was primarily due to the production volume decline in the North American passenger vehicle end market as well as lower sales in the China automotive and off-highway end markets. Full-year adjusted operating margin of 1.6% decreased by 60 basis points compared to 2024, primarily due to lower contribution on lower sales as well as unfavorable mix offset by lower engineering costs.

Cash and Debt Balances

As of December 31, 2025, Stoneridge had cash and cash equivalents totaling $66.3 million and total debt of $180.9 million resulting in net debt of $114.7 million. For the twelve months ending December 31, 2025, the Company generated $34.0 million in net cash provided by operating activities and $19.0 million in adjusted free cash flow.

The Company has entered into an amendment to its current credit facility to extend the maturity date to July 1, 2027 to allow ample time to refinance the existing credit facility and align the long-term capital structure with the structure of the Company after the sale of Control Devices. The Company expects to remain in compliance with all of the amended covenant ratios.

For credit facility compliance purposes, adjusted net debt was $137.7 million while adjusted EBITDA for the trailing twelve months was $39.8 million, resulting in an adjusted net debt to trailing twelve-month EBITDA compliance leverage ratio of 3.46x relative to a required leverage ratio of not greater than 3.75x as per the amended credit facility agreement.

2026 and Future Outlook

The Company is issuing its full-year 2026 sales guidance range of $625 million to $650 million, gross margin guidance of 21.5% to 22.0%, adjusted operating margin guidance of approximately break-even, and adjusted EBITDA guidance of $20 million to $25 million, or approximately 3.2% to 3.8% of sales.

Bob Hartman, chief accounting officer and incoming interim chief financial officer commented, "We are introducing our full-year 2026 guidance ranges, including midpoint revenue of $638 million, representing 4.2% year-over-year growth relative to the 2025 sales for the remaining company. Our revenue guidance assumes that OEM production volumes will remain broadly in line with 2025. That said, based on our weighted average end-markets, IHS is forecasting 7.1% growth in 2026. However, we believe continued geopolitical volatility warrants some level of conservatism. We expect continued strong growth in MirrorEye this year, driven by improved customer take rates and the continued ramp up of recently launched OEM programs, resulting in expected MirrorEye revenue of at least $160 million, or approximately 45% growth. As Natalia outlined previously, we will continue to drive material cost and quality-related improvements as well as reducing our structural costs, which we expect to result in expanded margins. As a result, we expect EBITDA of $20 million to $25 million in 2026."

Noblet continued, "Finally, today we are providing both short-term and long-term revenue and EBITDA targets. Looking at 2027, our weighted-average end markets are expected to grow by 6.6% relative to 2026. In addition, we expect the continued ramp-up and increased customer take rates for our existing MirrorEye OEM programs to drive growth of at least $35 million incremental to 2026. Based on market expectations and MirrorEye-related growth, we are targeting at least $715 million of revenue in 2027. We have additional opportunities to outperform this target, including growth in our aftermarket, off-highway and Brazilian OEM businesses. Based on the contribution margin on expected revenue growth, we are targeting 2027 EBITDA of at least $44 million, or almost double our expected EBITDA in 2026. Incremental to that contribution-based target would be our continued focus on improving material costs, quality-related costs and structural cost reductions to align with our current company structure." 

Noblet concluded, "Similarly, we have updated our long-term targets to reflect continued strong growth expectations in our key product categories resulting in a 2030 revenue target of $850 million to $1 billion, implying revenue growth of 2x to 3x our weighted-average end market growth. This results in our expected 2030 EBITDA target of $80 million to $120 million, implying an EBITDA margin range of approximately 9.5% to 12.0%. We remain focused on building a strong foundation for continued earnings expansion as we capitalize on our impressive portfolio of advanced technologies. Stoneridge remains well positioned to continue to outperform our underlying markets and drive margin expansion resulting in long-term shareholder value creation."

Conference Call on the Web
A live Internet broadcast of Stoneridge's conference call regarding 2025 fourth quarter results can be accessed at 9:00 a.m. Eastern Time on Thursday, March 12, 2026, at www.stoneridge.com, which will also offer a webcast replay.

About Stoneridge, Inc.
Stoneridge, Inc., headquartered in Novi, Michigan, is a global supplier of safe and efficient electronic systems and technologies. Our systems and products power vehicle intelligence, while enabling safety and security for on- and off-highway transportation sectors around the world. Additional information about Stoneridge can be found at www.stoneridge.com.

Forward-Looking Statements
Statements in this press release contain "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. These statements appear in a number of places in this press release and may include statements regarding the intent, belief or current expectations of the Company, with respect to, among other things, our (i) future product and facility expansion, (ii) strategic focus following the sale of the Control Devices segment, (iii) acquisition strategy, (iv) investments and new product development, (v) growth opportunities related to awarded business, and (vi) operational expectations. Forward-looking statements may be identified by the words "will," "may," "should," "could," "would," "designed to," "believes," "plans," "projects," "intends," "expects," "estimates," "anticipates," "continue," and similar words and expressions. The forward-looking statements are subject to risks and uncertainties that could cause actual events or results to differ materially from those expressed in or implied by these statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, among other factors:

the ability of our suppliers to supply us with parts and components at competitive prices on a timely basis, including the impact of potential tariffs and trade considerations on their operations and output; fluctuations in the cost and availability of key materials and components (including semiconductors, printed circuit boards, resin, aluminum, steel and copper) and our ability to offset cost increases through negotiated price increases with our customers or other cost reduction actions, as necessary; global economic trends, competition and geopolitical risks, including impacts from ongoing or potential global conflicts and any related sanctions and other measures, or an escalation of sanctions, tariffs or other trade tensions between the U.S. and other countries; tariffs specifically in countries where we have significant direct or indirect manufacturing or supply chain exposure and our ability to either mitigate the impact of tariffs or pass any incremental costs to our customers; our ability to achieve cost reductions that offset or exceed customer-mandated selling price reductions; the reduced purchases, loss, financial distress or bankruptcy of a major customer or supplier; the costs and timing of business realignment, facility closures or similar actions; a significant change in commercial, automotive, off-highway or agricultural vehicle production; competitive market conditions and resulting effects on sales and pricing; foreign currency fluctuations and our ability to manage those impacts; customer acceptance of new products; our ability to successfully launch/produce products for awarded business; adverse changes in laws, government regulations or market conditions affecting our products, our suppliers, or our customers' products; our ability to protect our intellectual property and successfully defend against assertions made against us; liabilities arising from warranty claims, product recall or field actions, product liability and legal proceedings to which we are or may become a party, or the impact of product recall or field actions on our customers; labor disruptions at our facilities, or at any of our significant customers or suppliers; business disruptions due to natural disasters or other disasters outside of our control; the amount of our indebtedness and the restrictive covenants contained in the agreements governing our indebtedness, including our revolving credit facility; capital availability or costs, including changes in interest rates; refinancing risk and access to capital markets and liquidity; the failure to achieve the successful integration of any acquired company or business; risks related to a failure of our information technology systems and networks, and risks associated with current and emerging technology threats and damage from computer viruses, unauthorized access, cyber-attack and other similar disruptions; as a result of the sale of the Company's Control Devices business in January 2026, the Company will operate as a two-segment business; the 2025 financial statements are not representative of the Company's future operating profile; and the items described in Part I, Item 1A ("Risk Factors") in the Company's most recent Form 10-K. The forward-looking statements contained herein represent our estimates only as of the date of this filing and should not be relied upon as representing our estimates as of any subsequent date. While we may elect to update these forward-looking statements at some point in the future, except as required by law, we specifically disclaim any obligation to do so, whether to reflect actual results, changes in assumptions, changes in other factors affecting such forward-looking statements or otherwise.

Use of Non-GAAP Financial Information

This press release contains information about the Company's financial results that is not presented in accordance with accounting principles generally accepted in the United States ("GAAP"). Such non-GAAP financial measures are reconciled to their closest GAAP financial measures at the end of this press release. The provision of these non-GAAP financial measures for 2025 and 2024 is not intended to indicate that Stoneridge is explicitly or implicitly providing projections on those non-GAAP financial measures, and actual results for such measures are likely to vary from those presented. The reconciliations include all information reasonably available to the Company at the date of this press release and the adjustments that management can reasonably estimate.

In evaluating its business, the Company considers and uses free cash flow and net debt as supplemental measures of its liquidity and the other non-GAAP financial measures as supplemental measures of its operating performance. Management believes the non-GAAP financial measures used in this press release are useful to both management and investors in their analysis of the Company's financial position and results of operations. In particular, management believes that adjusted sales excluding Control Devices, adjusted gross profit and margin, adjusted operating income (loss) and margin, adjusted income (loss) before tax, adjusted income tax expense (benefit), adjusted net income (loss), adjusted EPS, EBITDA, adjusted EBITDA, adjusted EBITDA excluding Control Devices, adjusted debt, net debt, adjusted net debt, adjusted cash, free cash flow, and adjusted free cash flow are useful measures in assessing the Company's financial performance by excluding certain items that are not indicative of the Company's core operating performance or that may obscure trends useful in evaluating the Company's continuing operating activities. Management also believes that these measures are useful to both management and investors in their analysis of the Company's results of operations and provide improved comparability between fiscal periods.

Sales excluding Control Devices, adjusted gross profit and margin, adjusted operating income (loss) and margin, adjusted income (loss) before tax, adjusted income tax expense (benefit), adjusted net income (loss), adjusted EPS, EBITDA, adjusted EBITDA, adjusted EBITDA excluding Control Devices, adjusted debt, net debt, adjusted net debt, adjusted cash, free cash flow, and adjusted free cash flow should not be considered in isolation or as a substitute for sales, gross profit, operating income (loss), income (loss) before tax, income tax expense (benefit), net income (loss), EPS, debt, cash and cash equivalents, cash provided by operating activities or other income statement or cash flow statement data prepared in accordance with GAAP.

CONSOLIDATED BALANCE SHEETS

(in thousands)

December 31,
2025

December 31,
2024

ASSETS

Current assets:

Cash and cash equivalents

$           66,252

$           71,832

Accounts receivable, less reserves of $383 and $1,060, respectively

131,430

137,766

Inventories, net

132,673

151,337

Prepaid expenses and other current assets

31,514

26,579

Total current assets

361,869

387,514

Long-term assets:

Property, plant and equipment, net

78,922

97,667

Intangible assets, net

37,973

39,677

Goodwill

37,590

33,085

Operating lease right-of-use asset

12,513

10,050

Investments and other long-term assets, net

22,321

53,563

Total long-term assets

189,319

234,042

Total assets

$         551,188

$         621,556

LIABILITIES AND SHAREHOLDERS' EQUITY

Current liabilities:

Accounts payable

$           82,235

$           83,478

Accrued expenses and other current liabilities

75,321

66,494

Total current liabilities

157,556

149,972

Long-term liabilities:

Revolving credit facility

180,942

201,577

Deferred income taxes

9,972

5,321

Operating lease long-term liability

9,014

6,484

Other long-term liabilities

13,925

12,942

Total long-term liabilities

213,853

226,324

Shareholders' equity:

Preferred Shares, without par value, 5,000 shares authorized, none issued

—

—

Common Shares, without par value, 60,000 shares authorized, 28,966 and 28,966
shares issued and 28,018 and 27,695 shares outstanding at December 31, 2025 and
December 31, 2024, respectively, with no stated value

—

—

Additional paid-in capital

219,186

225,712

Common Shares held in treasury, 948 and 1,271 shares at December 31, 2025 and
December 31, 2024, respectively, at cost

(27,457)

(38,424)

Retained earnings

77,150

179,985

Accumulated other comprehensive loss

(89,100)

(122,013)

Total shareholders' equity

179,779

245,260

Total liabilities and shareholders' equity

$         551,188

$         621,556

CONSOLIDATED STATEMENTS OF OPERATIONS

Year ended December 31, (in thousands, except per share data)

2025

2024

2023

Net sales

$         861,263

$         908,295

$         975,818

Costs and expenses:

Cost of goods sold

690,109

719,042

774,512

Selling, general and administrative

125,605

117,460

117,395

Impairment of Control Devices assets

21,628

—

—

Design and development

62,527

72,174

71,075

Operating (loss) income

(38,606)

(381)

12,836

Interest expense, net

13,578

14,447

13,000

Equity in (earnings) loss of investee

(340)

1,292

522

Other expense (income), net

3,608

(2,523)

1,236

Loss before income taxes

(55,452)

(13,597)

(1,922)

Provision for income taxes

47,383

2,927

3,261

Net loss

$       (102,835)

$         (16,524)

$           (5,183)

Loss per share:

Basic

$             (3.70)

$             (0.60)

$             (0.19)

Diluted

$             (3.70)

$             (0.60)

$             (0.19)

Weighted-average shares outstanding:

Basic

27,797

27,596

27,443

Diluted

27,797

27,596

27,443

CONSOLIDATED STATEMENTS OF CASH FLOWS

Year ended December 31, (in thousands)

2025

2024

2023

OPERATING ACTIVITIES:

Net loss

$              (102,835)

$                (16,524)

$                  (5,183)

Adjustments to reconcile net loss to net cash provided by (used for) operating activities:

Depreciation

23,731

26,140

26,749

Amortization, including accretion and write-off of deferred financing costs

9,955

8,852

8,132

Deferred income taxes

37,079

(5,742)

(4,038)

Impairment of Control Devices assets

21,628

—

—

(Gain) loss of equity method investee

(340)

1,292

522

Loss (gain) on sale of fixed assets

146

257

(860)

Share-based compensation expense

4,801

4,094

3,322

Excess tax deficiency related to share-based compensation expense

475

248

230

Changes in operating assets and liabilities:

Accounts receivable, net

17,341

20,170

(5,854)

Inventories, net

30,765

26,904

(31,563)

Prepaid expenses and other assets

(7,489)

877

16,625

Accounts payable

(8,780)

(24,624)

1,090

Accrued expenses and other liabilities

7,545

5,804

(4,226)

Net cash provided by operating activities

34,022

47,748

4,946

INVESTING ACTIVITIES:

Capital expenditures, including intangibles

(21,850)

(24,303)

(38,498)

Proceeds from sale of fixed assets

399

385

1,869

Investment in venture capital fund, net

(372)

(550)

(350)

Net cash used for investing activities

(21,823)

(24,468)

(36,979)

FINANCING ACTIVITIES:

Revolving credit facility borrowings

49,000

135,500

117,369

Revolving credit facility payments

(73,191)

(121,500)

(96,568)

Proceeds from issuance of debt

19,888

31,661

35,757

Repayments of debt

(19,882)

(33,745)

(35,102)

Other financing costs

(777)

—

(2,251)

Repurchase of Common Shares to satisfy employee tax withholding

(340)

(795)

(1,720)

Net cash (used for) provided by financing activities

(25,302)

11,121

17,485

Effect of exchange rate changes on cash and cash equivalents

7,523

(3,410)

591

Net change in cash and cash equivalents

(5,580)

30,991

(13,957)

Cash and cash equivalents at beginning of period

71,832

40,841

54,798

Cash and cash equivalents at end of period

$                 66,252

$                 71,832

$                 40,841

Supplemental disclosure of cash flow information:

Cash paid for interest

$                 14,166

$                 15,458

$                 13,007

Cash paid for income taxes, net

$                 10,337

$                   9,255

$                 10,302

Regulation G Non-GAAP Financial Measure Reconciliations 

Exhibit 1 – Reconciliation of Adjusted Gross Profit

(USD in millions)

Q4 2024

2024

Q4 2025

2025

Gross Profit

$         42.7

$      189.3

$         33.2

$      171.2

Add: Pre-Tax Business Realignment Costs

0.4

0.5

0.1

2.4

Adjusted Gross Profit

$         43.1

$      189.8

$         33.2

$      173.6

Exhibit 2 - Reconciliation of Adjusted Operating Income (Loss)

(USD in millions)

Q4 2024

2024

Q4 2025

2025

Operating Income (Loss)

$       (4.4)

$       (0.4)

$     (29.5)

$       (38.6)

Add: Pre-Tax Business Realignment Costs

0.4

2.6

(0.1)

6.4

Add: Pre-Tax Environmental Remediation Costs

—

0.2

—

—

Add: Pre-Tax Strategic Review Costs

—

—

1.3

6.0

Add: Pre-Tax Share-Based Compensation Accelerated Vesting

—

—

—

0.3

Add: Pre-Tax Impairment of Control Devices Assets

—

—

21.6

21.6

Adjusted Operating Income (Loss)

$       (4.0)

$         2.4

$       (6.7)

$         (4.3)

Exhibit 3 – Reconciliation of Adjusted Tax Rate

Reconciliation of Q4 2025 Adjusted Tax Rate

(USD in millions)

Q4 2025

Tax Rate

Loss Before Tax

$          (31.0)

Add: Pre-Tax Business Realignment Costs

(0.1)

Add: Pre-Tax Strategic Review Costs

1.3

Add: Pre-Tax Deferred Financing Fee Write Off

0.2

Add: Pre-Tax Impairment of Control Devices Assets

21.6

Adjusted Loss Before Tax

$            (8.0)

Income Tax Expense

$           45.9

nm

Add: Tax Impact from Pre-Tax Adjustments

5.3

Add: After-Tax Impact of Valuation Allowances, net

(44.5)

Adjusted Income Tax Expense on Adjusted Loss Before Tax

$             6.7

(83.3) %

Reconciliation of YTD 2025 Adjusted Tax Rate

(USD in millions)

2025

Tax Rate

Loss Before Tax

$          (55.5)

Add: Pre-Tax Business Realignment Costs

6.4

Add: Pre-Tax Deferred Financing Fee Write Off

0.2

Add: Pre-Tax Impairment of Control Devices Assets

21.6

Add: Pre-Tax Strategic Review Costs

6.0

Add: Pre-Tax Share-Based Compensation Accelerated Vesting

0.3

Adjusted Loss Before Tax

$          (20.9)

Income Tax Expense

47.4

(85.4) %

Add: Tax Impact from Pre-Tax Adjustments

8.1

Add: After-Tax Impact of Valuation Allowances, net

(44.5)

Adjusted Income Tax Expense

$            11.0

(52.7) %

Exhibit 4 - Reconciliation of Adjusted Net Loss and EPS

Reconciliation of Q4 2025 Adjusted Net Income and EPS

(USD in millions, except EPS)

Q4 2025

Q4 2025 EPS

Net Loss

$           (76.9)

$           (2.76)

Add: After-Tax Business Realignment Costs

(0.1)

—

Add: After-Tax Deferred Financing Fee Write Off

0.1

0.01

Add: After-Tax Strategic Review Costs

1.0

0.04

Add: After-Tax Impairment of Control Devices Assets

16.7

0.60

Add: After-Tax Impact of Valuation Allowances, net

44.5

1.60

Adjusted Net Loss

$           (14.7)

$           (0.53)

Reconciliation of Full-Year 2025 Adjusted Net Income and EPS

(USD in millions, except EPS)

2025

2025 EPS

Net Loss

$          (102.8)

$           (3.70)

Add: After-Tax Business Realignment Costs

4.8

0.17

Add: After-Tax Deferred Financing Fee Write Off

0.1

0.01

Add: After-Tax Share-Based Compensation Accelerated Vesting

0.2

0.01

Add: After-Tax Impact of Valuation Allowances, net

44.5

1.60

Add: After-Tax Impairment of Control Devices Assets

16.7

0.60

Add: After-Tax Strategic Review Costs

4.6

0.17

Adjusted Net Loss

$           (31.9)

$           (1.15)

Exhibit 5 – Reconciliation of Adjusted EBITDA

(USD in millions)

Q4 2024

2024

Q1 2025

Q2 2025

Q3 2025

Q4 2025

2025

Loss Before Tax

$     (6.2)

$   (13.6)

$     (5.6)

$     (9.1)

$     (9.7)

$   (31.0)

$     (55.5)

Interest expense, net

3.4

14.4

3.2

3.1

3.8

3.5

13.6

Depreciation and amortization

8.3

34.3

7.3

7.6

9.5

8.1

32.5

EBITDA

$      5.5

$     35.1

$      4.8

$      1.6

$      3.6

$   (19.4)

$       (9.4)

Add: Pre-Tax Business
Realignment Costs

0.4

2.6

2.8

1.7

2.1

(0.1)

6.4

Add: Pre-Tax Environmental
Remediation Costs

—

0.2

—

—

—

—

—

Add: Pre-Tax Strategic Review
Costs

—

—

—

1.0

3.7

1.3

6.0

Add: Pre-Tax Share-Based
Compensation Accelerated
Vesting

—

—

—

0.3

—

—

0.3

Add: Pre-Tax Impairment of
Control Devices Assets

—

—

—

—

—

21.6

21.6

Adjusted EBITDA

$      6.0

$     37.9

$      7.6

$      4.6

$      9.3

$      3.4

$      25.0

Exhibit 6 – Reconciliation of Segment Adjusted Operating Income (Loss)

Reconciliation of Control Devices Adjusted Operating Income (Loss)

(USD in millions)

Q4 2024

2024

Q4 2025

2025

Control Devices Operating Income (Loss)

$        (1.8)

$          6.2

$       (22.9)

$      (17.9)

Add: Pre-Tax Environmental Remediation Costs

—

0.2

—

—

Add: Pre-Tax Business Realignment Costs

0.2

0.2

(0.2)

0.7

Add: Pre-Tax Impairment of Control Devices Assets

—

—

21.6

21.6

Control Devices Adjusted Operating Income (Loss)

$        (1.6)

$          6.6

$         (1.5)

$          4.4

Reconciliation of Electronics Adjusted Operating Income

(USD in millions)

Q4 2024

2024

Q4 2025

2025

Electronics Operating Income

$          5.1

$        25.6

$          0.2

$        14.3

Add: Pre-Tax Business Realignment Costs

0.2

2.3

0.1

3.8

Electronics Adjusted Operating Income

$          5.3

$        27.9

$          0.3

$        18.1

Exhibit 7 – Reconciliation of Sales Excluding Control Devices

(USD in millions)

YTD 2025

Sales

$      861.3

Less: Control Devices Sales

(274.5)

Add: Inter-segment Sales to Control Devices

24.7

Sales Excluding Control Devices

$      611.5

Exhibit 8 – Reconciliation of Adjusted EBITDA Excluding Control Devices

(USD in millions)

YTD 2025

Adjusted EBITDA

$        25.0

Less: Control Devices Adjusted EBITDA

(10.8)

Adjusted EBITDA Excluding Control Devices

$        14.2

Exhibit 9 – Reconciliation of Adjusted Free Cash Flow

(USD in millions)

Q4 2024

YTD 2024

Q4 2025

YTD 2025

Net Cash Provided by Operating Activities

$             19.2

$             47.7

$               8.8

$             34.0

Capital Expenditures, including Intangibles

(5.3)

(24.3)

(6.2)

(21.9)

Proceeds from Sale of Fixed Assets

0.1

0.4

0.1

0.4

Free Cash Flow

$             14.1

$             23.8

$               2.7

$             12.6

Business Realignment Related Payments

$               0.4

$               2.6

$               0.1

$               5.7

Strategic Review Cost Related Payments

0.0

0.0

0.0

0.7

Adjusted Free Cash Flow

$             14.5

$             26.4

$               2.8

$             19.0

Exhibit 10 – Reconciliation of Net Debt

(USD in millions)

December 31,
2024

December 31,
2025

Total Debt

$            201.6

$               180.9

Cash and Cash Equivalents

$              71.8

$                 66.3

Net debt

$            129.7

$               114.7

Exhibit 11 – Reconciliation of Compliance Leverage Ratio

Reconciliation of Adjusted EBITDA for Compliance Calculation

(USD in millions)

Q1 2025

Q2 2025

Q3 2025

Q4 2025

Loss Before Tax

(5.6)

(9.1)

(9.7)

(31.0)

Interest Expense, net

3.2

3.1

3.8

3.5

Depreciation and Amortization

7.3

7.6

9.5

8.1

EBITDA

$           4.8

$           1.6

$           3.6

$        (19.4)

Compliance adjustments:

Add: Non-Cash Impairment Charges and Write-offs or Write Downs

—

0.1

0.1

21.7

Add: Adjustments from Foreign Currency Impact

(0.4)

3.4

2.4

(1.9)

Add: Extraordinary, Non-recurring or Unusual Items

0.1

—

0.8

1.2

Add: Cash Restructuring Charges

2.8

1.7

2.1

(0.6)

Add: Charges for Transactions, Amendments, and Refinances

0.3

1.4

3.7

1.5

Add: Adjustment to Autotech Fund II Investment

(0.3)

(0.1)

0.2

(0.2)

Add: Share Based Compensation

1.1

1.4

1.1

1.1

Add:  Accrual-based Expenses

2.2

0.5

1.5

1.6

Less: Cash Payments for Accrual-based Expenses

(1.3)

—

(0.1)

—

Adjusted EBITDA (Compliance)

$           9.4

$         10.0

$         15.4

$           5.1

Adjusted TTM EBITDA (Compliance)

$         44.2

$         37.3

$         43.9

$         39.8

Reconciliation of Adjusted Cash for Compliance Calculation

(USD in millions)

Q1 2025

Q2 2025

Q3 2025

Q4 2025

Total Cash and Cash Equivalents

$         79.1

$         49.8

$         54.0

$         66.3

Less: 35% of Cash in Foreign Locations

(23.3)

(13.4)

(16.4)

20.9

Total Adjusted Cash (Compliance)

$         55.8

$         36.4

$         37.6

$         45.3

Reconciliation of Adjusted Debt for Compliance Calculation

(USD in millions)

Q1 2025

Q2 2025

Q3 2025

Q4 2025

Total Debt

$       203.2

$       164.4

$       171.1

$       180.9

Outstanding Letters of Credit

1.6

1.5

1.5

2.1

Total Adjusted Debt (Compliance)

$       204.8

$       165.9

$       172.6

$       183.0

Adjusted Net Debt (Compliance)

$       149.0

$       129.5

$       135.0

$       137.7

Compliance Leverage Ratio (Net Debt / TTM EBITDA)

3.37x

3.47x

3.08x

3.46x

Compliance Leverage Ratio Maximum Requirement

6.00x

5.50x

4.50x

3.75x

SOURCE Stoneridge, Inc.

HighPeak Energy, Inc. (HPK - Free Report) came out with a quarterly loss of $0.21 per share versus the Zacks Consensus Estimate of a loss of $0.04. This compares to earnings of $0.06 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of -500.00%. A quarter ago, it was expected that this company would post earnings of $0.08 per share when it actually produced earnings of $0.03, delivering a surprise of -62.5%.

Over the last four quarters, the company has surpassed consensus EPS estimates just once.

HighPeak Energy, which belongs to the Zacks Oil and Gas - Exploration and Production - United States industry, posted revenues of $165.84 million for the quarter ended December 2025, missing the Zacks Consensus Estimate by 13.45%. This compares to year-ago revenues of $234.81 million. The company has topped consensus revenue estimates just once over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

HighPeak Energy shares have added about 16% since the beginning of the year versus the S&P 500's decline of 0.9%.

What's Next for HighPeak Energy?While HighPeak Energy has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for HighPeak Energy was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.03 on $195.2 million in revenues for the coming quarter and -$0.08 on $805.05 million in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Oil and Gas - Exploration and Production - United States is currently in the bottom 30% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

One other stock from the same industry, Mach Natural Resources LP (MNR - Free Report) , is yet to report results for the quarter ended December 2025. The results are expected to be released on March 12.

This company is expected to post quarterly earnings of $0.26 per share in its upcoming report, which represents a year-over-year change of -58.1%. The consensus EPS estimate for the quarter has been revised 13.5% higher over the last 30 days to the current level.

Mach Natural Resources LP's revenues are expected to be $361.93 million, up 54.1% from the year-ago quarter.

An experimental Joby Dubai Aerial Taxi aircraft lands in Dubai, United Arab Emirates, June 30, 2025. REUTERS/Amr Alfiky/File Photo Purchase Licensing Rights, opens new tab

CompaniesMarch 11 (Reuters) - Joby Aviation (JOBY.N), opens new tab said on Wednesday it has started flying its first aircraft that will undergo ​certification testing with federal regulators to receive type inspection ‌authorization (TIA), a major milestone toward an aircraft's certification for commercial operations.

Pilots have begun initial testing of the air taxi at the company's Marina, California-facility, Joby ​said. The test flights are a precursor to evaluations ​by U.S. Federal Aviation Administration pilots later this year.

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.

Joby ⁠has already worked with regulators for several years to approve ​the designs, plans and parts used to build the aircraft, ​which is the company's first production model. Joby test pilots have already logged more than 50,000 miles (80,500 km) in the company's developmental aircraft.

Joby's air taxi ​is a six-rotor electric aircraft capable of vertically taking off ​and landing like a helicopter and flying level like an airplane, with ‌room ⁠for a pilot and four passengers. The company aims to start flying later this year in Dubai, where two of four landing sites are already under construction, the company announced in February.

It ​will start limited ​operations in ⁠the U.S. this year as a participant in a White House-backed initiative to accelerate integration of ​electric air taxis and other small aircraft into ​the ⁠national airspace. Joby is participating in five of the eight pilot programs announced on Monday by the FAA, which is overseeing the ⁠initiative.

Joby ​aims to produce four aircraft a month ​in 2027, at manufacturing facilities in California and Dayton, Ohio.

Reporting by Pranav Mathur ​in Bengaluru and Dan Catchpole in Seattle; Editing by Lincoln Feast.

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

DENVER--(BUSINESS WIRE)--Ibotta, Inc. (NYSE: IBTA), the performance marketing platform for promotions, announced that its Board of Directors authorized the purchase of up to an additional $100 million of the Company's Class A common stock, effective immediately. This new authorization follows prior Board approval for $300 million repurchase of the Company's Class A common stock. “This new authorization reflects the Board's continued confidence in our long-term growth prospects and our commitmen.

SAN DIEGO, March 11, 2026 (GLOBE NEWSWIRE) --

Robbins LLP reminds stockholders that a class action was filed on behalf of all investors who purchased or otherwise acquired Nektar Therapeutics (NASDAQ: NKTR) securities between February 26, 2025 and December 15, 2025. Nektar is a biopharmaceutical company focused on discovering and developing therapies that selectively modulate the immune system to treat autoimmune disorders. The Company’s lead product candidate is rezpegaldesleukin, a novel, first-in-class regulatory T cell stimulator for the treatment of, inter alia, alopecia areata.

For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.

The Allegations: Robbins LLP is Investigating Allegations that Nektar Therapeutics (NKTR) Overstated the Prospects of its REZOLVE-AA Trial

According to the complaint, during the class period, defendants failed to disclose that: (i) enrollment in the REZOLVE-AA trial had not followed applicable instructions and protocol standards; (ii) the foregoing was likely to have a significant negative impact on the REZOLVE-AA trial’s results; (iii) accordingly, the REZOLVE-AA trial’s overall integrity and prospects were overstated; and (iv) as a result, Defendants’ public statements were materially false and misleading at all relevant times.

Plaintiff alleges that on December 16, 2025, Nektar issued a press release during pre-market hours “announc[ing] topline results from the 36-week induction treatment period of the Phase 2b REZOLVE-AA trial of investigational rezpegaldesleukin[.]” The press release disclosed that the trial failed to reach statistical significance, which Nektar attributed to the inclusion of four patients who should not have been eligible to participate. On this news, Nektar’s stock price fell $4.14 per share, or 7.77%, to close at $49.16 per share on December 16, 2025

What Now: You may be eligible to participate in the class action against Netkar Therapeutics. Shareholders who wish to serve as lead plaintiff for the class should contact Robbins LLP. The lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.

All representation is on a contingency fee basis. Shareholders pay no fees or expenses.

About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002.

To be notified if a class action against Nektar Therapeutics settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today.

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

Elutia Inc. (ELUT) Q4 2025 Earnings Call March 11, 2026 5:00 PM EDT

Company Participants

Sonali Fonseca - VP & Head of Emerging Businesses
C. Mills - Co-Founder, President, CEO & Director
Matthew Ferguson - Chief Financial Officer

Conference Call Participants

Frank Takkinen - Lake Street Capital Markets, LLC, Research Division

Presentation

Operator

Good day, everyone, and welcome to Elutia's Fourth Quarter 2025 Financial Results Call. [Operator Instructions] Please note, this conference is being recorded. Now it's my pleasure to turn the call over to Sonali Fonseca.

Sonali Fonseca
VP & Head of Emerging Businesses

Thank you, operator, and thank you all for participating in today's call. Earlier today, Elutia released financial results for the fourth quarter and full year ended December 31, 2025. A copy of the press release is available on the company's website. Before we begin, I would like to remind you that management will make statements during this call that include forward-looking statements within the meaning of the federal securities laws, which are pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995.

All statements contained in this call that do not relate to matters of historical facts or relate to expectations or predictions of future events, results or performance are forward-looking statements. All forward-looking statements, including, without limitation, those relating to our operating trends and future financial performance are based upon our current estimates and various assumptions.

These statements include material risks and uncertainties that could cause actual results or events to materially differ from those anticipated or implied by these forward-looking statements. Accordingly, you should not place undue reliance on these statements.

For a list and descriptions of the risks and uncertainties associated with our business, please refer to the Risk Factors section of our public filings with the SEC, including

Vancouver, British Columbia--(Newsfile Corp. - March 11, 2026) - Kadestone Capital Corp. (TSXV: KDSX) ("Kadestone" or the "Company") is pleased to announce that it has closed the first tranche of its previously announced non-brokered private placement ("First Tranche Closing") of secured convertible notes ("Convertible Notes") and common share purchase warrants ("Warrants"). The First Tranche Closing of the private placement is comprised of the issuance of Convertible Notes in the aggregate principal amount of $1.65 million. The Company also issued 3,300,000 Warrants under the First Tranche Closing. The private placement is expected to close in one or more tranches, subject to, among other things, receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange (the "TSXV").

The Convertible Notes issued pursuant to the First Tranche Closing will mature on the date that is 36 months after issuance (the "Maturity Date"), subject to acceleration upon the occurrence of an event of default, and will bear interest at a rate of 10% per annum, compounded monthly and payable on redemption or conversion. On the Maturity Date, the principal amount of the Convertible Notes, together with accrued and unpaid interest, will be convertible into common shares in the capital of Kadestone ("Common Shares") at the option of the holder at a conversion price of $0.50 per Common Share (the "Conversion Price"). Notwithstanding the foregoing, any conversion of interest accrued on the Convertible Notes, including the conversion price applicable thereto, will be subject to the prior approval of the TSXV.

Each Warrant will entitle the holder to purchase one Common Share at a price of $0.60 per Common Share for a period of 36 months, subject to customary adjustments.

The proceeds of the First Tranche Closing will be used to pay down debt and for general corporate purposes.

The Convertible Notes will automatically convert into Common Shares upon the occurrence of certain events (each, an "Automatic Conversion"), including upon the closing of an equity financing resulting in gross proceeds to the Company of not less than $25 million (a "Qualifying Transaction") and completion of a sale or other disposition of all or substantially all of the Company's assets (a "Change of Control Transaction"). Where an Automatic Conversion occurs pursuant to a Qualifying Transaction, the principal amount of Convertible Notes, together with accrued and unpaid interest, will automatically convert into Common Shares at a 20% discount to the applicable price per security payable in the Qualifying Transaction, subject to the prior approval of the TSXV. In the event of a Change of Control Transaction, the applicable conversion price will be equal to the Conversion Price, subject to, in the case of accrued and unpaid interest, the prior approval of the TSXV.

The Company will be entitled to repay the principal amount of the Convertible Notes, together with accrued and unpaid interest, at any time and without penalty upon notice to the holders.

An insider of Kadestone subscribed for $1 million of Convertible Notes in the First Tranche Closing. The issuances of securities to such insider is considered a related party transaction within the meaning of TSXV Policy 5.9 - Protection of Minority Securityholders in Special Transactions and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company has relied on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as the fair market value of the private placement, insofar as it involves the insider, is not more than 25% of the Company's market capitalization. The Company did not file a material change report in respect of this related party transaction at least 21 days before the closing. The Company deems this circumstance reasonable in order to complete the private placement in an expeditious manner.

The securities issued pursuant to the First Tranche Closing of the private placement, including any underlying Common Shares, will be subject to a four-month statutory hold period in accordance with applicable Canadian securities laws.

About Kadestone

Kadestone was established to pursue the investment in, acquisition, development and management of residential and commercial income producing properties, and procurement and sale of building materials within major urban centres and high-growth, emerging markets in Canada. The Company operates five complimentary business lines spanning building materials procurement and supply, property development and construction, construction finance, asset ownership and property management. These synergistic business lines have solidified Kadestone's vision to become a market leading vertically integrated property company. Additional information can be found at www.kadestone.com.

For further information please contact David Negus, CFO, Kadestone Capital Corp., [email protected], 604 671-8142

ON BEHALF OF THE BOARD

(signed) "Kevin Hoffman"

CEO and Director

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

Cautionary Statement Regarding Forward- Looking Statements

Certain information in this press release, including, but not limited to, statements regarding the Company's objectives, goals and future plans, including the Company's ability to identify opportunities and secure additional investments in 2026 and the Company's vision to become a leading vertically integrated property company, may constitute forward looking information (collectively, "forward-looking statements"), which can be identified by the use of terms such as "may," "will," "should," "expect," "anticipate," "project," "estimate," "intend," "continue" or "believe" (or the negatives) or other similar variations. Because of various risks and uncertainties, including those referenced below, actual events or results may differ materially from those reflected or contemplated in such forward-looking statements. As a result, you should not rely on such forward-looking statements. Forward-looking statements reflect material expectations and assumptions, including, without limitation, expectations and assumptions relating to Kadestone's ability to receive sufficient financing to execute its business objectives or plans on acceptable terms or at all; Kadestone's ability to realize the anticipated benefits for its synergistic business lines; and the stability of the financial and capital markets. Additional information identifying assumptions, risks and uncertainties relating to Kadestone is contained in Kadestone's filings with the Canadian securities regulators available at www.sedarplus.ca. These risks include, but are not limited to, Kadestone's requirement of significant additional capital; Kadestone's ability to receive sufficient financing to execute its business objectives or plans on acceptable terms or at all; and those other risks and uncertainties described in the "Risk Factors" section of the Company's final prospectus dated September 2, 2020, and in the Management's Discussion and Analysis for the years ended December 31, 2024 and 2023. The forward-looking statements in this press release are applicable only as of the date of this release or as of the date specified in the relevant forward-looking statement. The Company has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/288191

Source: Kadestone Capital Corp.

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Fossil Group, Inc. (FOSL) Q4 2025 Earnings Call March 11, 2026 5:00 PM EDT

Company Participants

Franco Fogliato - CEO & Director
Randy Greben - Chief Financial Officer

Conference Call Participants

Christine Greany - The Blueshirt Group, LLC
Thomas Forte - Maxim Group LLC, Research Division
Owen Rickert - Northland Capital Markets, Research Division

Presentation

Operator

Good afternoon, ladies and gentlemen, and welcome to the Fossil Group Fourth Quarter and Full Year 2025 Earnings Call. [Operator Instructions] This conference call is being recorded and may not be reproduced in whole or in part without written information from the company.

Now I will turn the call over to Christine Greany of the Blueshirt Group to begin.

Christine Greany
The Blueshirt Group, LLC

Hello, everyone, and thank you for joining us. With me on the call today is Franco Fogliato, Chief Executive Officer; and Randy Greben, Chief Financial Officer. Before we begin, I would like to remind you that information made available during this conference call contains forward-looking information, and actual results could differ materially from those that will be discussed during this call.

Fossil Group's policy on forward-looking statements and additional information concerning a number of factors that could cause actual results to differ materially from such statements is readily available in the company's Form 8-K, 10-Q and 10-K reports filed with the SEC. In addition, Fossil assumes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

During today's call, we will refer to constant currency results as well as certain non-GAAP financial measures. Please note that you can find a reconciliation of actual results to constant currency results and other information regarding non-GAAP financial measures discussed on this call in Fossil's earnings release, which was filed today

Whirlpool (WHR - Free Report) closed the most recent trading day at $58.23, moving +1.18% from the previous trading session. The stock exceeded the S&P 500, which registered a loss of 0.08% for the day. At the same time, the Dow lost 0.61%, and the tech-heavy Nasdaq gained 0.08%.

The stock of maker of Maytag, KitchenAid and other appliances has fallen by 36.86% in the past month, lagging the Consumer Discretionary sector's loss of 3.48% and the S&P 500's loss of 2.16%.

Investors will be eagerly watching for the performance of Whirlpool in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.73, marking a 57.06% fall compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $3.51 billion, showing a 3.01% drop compared to the year-ago quarter.

For the full year, the Zacks Consensus Estimates project earnings of $5.63 per share and a revenue of $15.33 billion, demonstrating changes of -9.63% and -1.25%, respectively, from the preceding year.

It is also important to note the recent changes to analyst estimates for Whirlpool. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 10.35% lower. Whirlpool presently features a Zacks Rank of #5 (Strong Sell).

In the context of valuation, Whirlpool is at present trading with a Forward P/E ratio of 10.22. This valuation marks no noticeable deviation compared to its industry average Forward P/E of 10.22.

Also, we should mention that WHR has a PEG ratio of 2.73. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As of the close of trade yesterday, the Household Appliances industry held an average PEG ratio of 2.73.

The Household Appliances industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 88, which puts it in the top 36% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.

In the latest trading session, M/I Homes (MHO - Free Report) closed at $129.85, marking a -2.41% move from the previous day. The stock's change was less than the S&P 500's daily loss of 0.08%. At the same time, the Dow lost 0.61%, and the tech-heavy Nasdaq gained 0.08%.

Prior to today's trading, shares of the homebuilder had lost 8.49% was narrower than the Construction sector's loss of 9.08% and lagged the S&P 500's loss of 2.16%.

Investors will be eagerly watching for the performance of M/I Homes in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $2.64, reflecting a 33.67% decrease from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $929.65 million, reflecting a 4.76% fall from the equivalent quarter last year.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $13.63 per share and a revenue of $4.48 billion, indicating changes of -7.53% and +1.36%, respectively, from the former year.

Investors should also pay attention to any latest changes in analyst estimates for M/I Homes. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. M/I Homes is currently a Zacks Rank #4 (Sell).

Investors should also note M/I Homes's current valuation metrics, including its Forward P/E ratio of 9.76. This denotes a discount relative to the industry average Forward P/E of 12.93.

The Building Products - Home Builders industry is part of the Construction sector. This group has a Zacks Industry Rank of 233, putting it in the bottom 5% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.

In the latest close session, Steel Dynamics (STLD - Free Report) was up +1.14% at $184.26. The stock exceeded the S&P 500, which registered a loss of 0.08% for the day. Elsewhere, the Dow saw a downswing of 0.61%, while the tech-heavy Nasdaq appreciated by 0.08%.

The steel producer and metals recycler's stock has dropped by 9.41% in the past month, falling short of the Basic Materials sector's loss of 1.94% and the S&P 500's loss of 2.16%.

Investors will be eagerly watching for the performance of Steel Dynamics in its upcoming earnings disclosure. In that report, analysts expect Steel Dynamics to post earnings of $3.17 per share. This would mark year-over-year growth of 120.14%. Our most recent consensus estimate is calling for quarterly revenue of $5.01 billion, up 14.72% from the year-ago period.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $13.59 per share and revenue of $20.47 billion, indicating changes of +70.09% and +12.63%, respectively, compared to the previous year.

It is also important to note the recent changes to analyst estimates for Steel Dynamics. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. As of now, Steel Dynamics holds a Zacks Rank of #3 (Hold).

In terms of valuation, Steel Dynamics is presently being traded at a Forward P/E ratio of 13.41. This represents no noticeable deviation compared to its industry average Forward P/E of 13.41.

One should further note that STLD currently holds a PEG ratio of 0.49. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Steel - Producers industry currently had an average PEG ratio of 0.49 as of yesterday's close.

The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 208, which puts it in the bottom 16% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.

Garmin (GRMN - Free Report) ended the recent trading session at $236.09, demonstrating a -2.18% change from the preceding day's closing price. This move lagged the S&P 500's daily loss of 0.08%. Elsewhere, the Dow saw a downswing of 0.61%, while the tech-heavy Nasdaq appreciated by 0.08%.

Heading into today, shares of the maker of personal navigation devices had gained 15.8% over the past month, outpacing the Computer and Technology sector's loss of 2.38% and the S&P 500's loss of 2.16%.

Analysts and investors alike will be keeping a close eye on the performance of Garmin in its upcoming earnings disclosure. In that report, analysts expect Garmin to post earnings of $1.83 per share. This would mark year-over-year growth of 13.66%. Meanwhile, the latest consensus estimate predicts the revenue to be $1.72 billion, indicating a 11.83% increase compared to the same quarter of the previous year.

GRMN's full-year Zacks Consensus Estimates are calling for earnings of $9.4 per share and revenue of $7.95 billion. These results would represent year-over-year changes of +9.81% and +9.77%, respectively.

It's also important for investors to be aware of any recent modifications to analyst estimates for Garmin. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 7.19% increase. Garmin presently features a Zacks Rank of #1 (Strong Buy).

Looking at valuation, Garmin is presently trading at a Forward P/E ratio of 25.68. Its industry sports an average Forward P/E of 25.61, so one might conclude that Garmin is trading at a premium comparatively.

It's also important to note that GRMN currently trades at a PEG ratio of 2.89. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Electronics - Miscellaneous Products was holding an average PEG ratio of 1.61 at yesterday's closing price.

The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 25, positioning it in the top 11% of all 250+ industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.

St. Albert, Alberta--(Newsfile Corp. - March 11, 2026) - Enterprise Group, Inc. (TSX: E) (OTCQB: ETOLF) (the "Company" or "Enterprise") announces the Company will release financial results for the 2025 fourth quarter and audited annual year end, after market close on March 12th, 2026.

The Company further announces that, as of the March 12, 2026, expiry date for all outstanding warrants and broker warrants, with an average price of $0.95 have been exercised. The warrants were issued in conjunction with a financing completed on March 12, 2024.

About Enterprise Group, Inc.
Enterprise Group, Inc is a consolidator of services, including specialized natural gas power generation equipment to the energy/resource and industrial sectors. The Company works with particular emphasis on systems and technologies that mitigate, reduce, or eliminate CO2, Greenhouse Gas (GHG) and other harmful emissions for itself and its clients. The Company is well known to local Tier One and international resource companies with operations in Western Canada. More information is available on the Company's website www.enterprisegrp.ca. Corporate filings can be found on www.sedarplus.ca. For questions or additional information, please contact:

For questions or additional information, please contact:
Leonard Jaroszuk, CEO & Chairman, or
Desmond O'Kell, President & Director
780-418-4400
[email protected]

Forward-Looking Information
Certain statements contained in this news release constitute forward-looking information. These statements relate to future events or the Company's future performance. The use of any of the words "could", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. The forward-looking statements in this news release including, without limitation, the anticipated use of proceeds and opportunities available to the Company. Actual future results may differ materially. The Company's Annual Information Form and other documents filed with securities regulatory authorities (accessible through the SEDAR+ website www.sedarplus.ca) describe the risks, material assumptions and other factors that could influence actual results and which are incorporated herein by reference. The Company disclaims any intention or obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/288185

Source: Enterprise Group Inc.

Ready to Announce with Confidence? Send us a message and a member of our TMX Newsfile team will contact you to discuss your needs.

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Descartes Systems (DSGX - Free Report) came out with quarterly earnings of $0.52 per share, beating the Zacks Consensus Estimate of $0.5 per share. This compares to earnings of $0.43 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +4.00%. A quarter ago, it was expected that this logistics provider would post earnings of $0.46 per share when it actually produced earnings of $0.5, delivering a surprise of +8.7%.

Over the last four quarters, the company has surpassed consensus EPS estimates two times.

Descartes Systems, which belongs to the Zacks Computer - Software industry, posted revenues of $192.76 million for the quarter ended January 2026, surpassing the Zacks Consensus Estimate by 3.36%. This compares to year-ago revenues of $167.5 million. The company has topped consensus revenue estimates three times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Descartes Systems shares have lost about 20.1% since the beginning of the year versus the S&P 500's decline of 0.9%.

What's Next for Descartes Systems?While Descartes Systems has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Descartes Systems was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.54 on $186.2 million in revenues for the coming quarter and $2.63 on $803.69 million in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Computer - Software is currently in the top 29% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

One other stock from the same industry, Progress Software (PRGS - Free Report) , is yet to report results for the quarter ended February 2026.

This business software maker is expected to post quarterly earnings of $1.57 per share in its upcoming report, which represents a year-over-year change of +19.9%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Progress Software's revenues are expected to be $245.51 million, up 3.2% from the year-ago quarter.

March 11, 2026 19:22 ET  | Source: CEMATRIX Corporation

Record Full Year Adjusted EBITDA of $8.3 million
Record Full Year Cashflow from Operations* of $8.2 million
Record Full Year Earnings per Share of 2.7 cents

CALGARY, Alberta, March 11, 2026 (GLOBE NEWSWIRE) -- CEMATRIX Corporation (TSX: CEMX) (OTCQB: CTXXF) ("CEMATRIX" or the "Company") a specialty construction contractor and leading supplier of cellular concrete in North America announced the release of its audited consolidated financial results for the year and fourth quarter ended December 31, 2025.

“What an incredible year. We promised a record year, and we delivered on that promise by posting record financial results in almost all of our financial key performance indicators. The highlights include revenue in the quarter of $12.5 million as compared to $10.4 million last year (a 20% increase) and full year revenue of $45.1 million as compared to $35.4 million last year, (a 27% increase). Adjusted EBITDA in the quarter was $2.4 million as compared to $1.4 million last year (a 71% increase) and year-to-date adjusted EBITDA was $8.3 million as compared to $3.3 million last year (a 152% increase). Our success comes from serving our customers first. Consistent with our core values, we are obsessed with three things at CEMATRIX – safety, quality, and profitability,” said Randy Boomhour, President and CEO of CEMATRIX.

“Our teams generated cash flow from operating activities (*before working capital adjustments) of $2.5 million in the quarter and $8.2 million for the full year. Investing and financing activities remained modest in comparison, and we ended the quarter with a cash position of $11.9 million,” stated Ms. Marie-Josée Cantin, CFO of CEMATRIX. “As expected, when revenue increases with higher work volumes, we have had to invest some cash ($4.3 million year to date in 2025) in working capital. All of this investment in working capital has reversed in the first quarter of 2026 as we collected our receivables from the fourth quarter and our cash position as of March 10 was $16.7 million.”

“In addition, under our previously announced Normal Course Issuer Bid (“NCIB”) we were able to purchase another 0.6 million shares of CEMATRIX in the fourth quarter, bringing the total number of shares repurchased under the NCIB for the year to just over 1.3 million shares. As a result for the first time in our history, we reduced our outstanding share count this year. CEMATRIX continues to have a very healthy balance sheet with low leverage, and we remain in a strong financial position to execute on our strategy,” said Ms. Cantin.

“The magnitude of our success this year has been remarkable. Our EBITDA in 2025 was greater than the sum of our EBITDA from the previous 20 years added all together! Our adjusted EBITDA in 2025 of $8.3 million was greater than our two previous best years combined (2023 = $4.9 million and 2024 = $3.3 million)! In 2023, we reached a key inflection point for the Company and since then we have been demonstrating consistent positive financial performance. This year, 2025, represents the third straight year of positive adjusted EBITDA and positive cash flow from operations (before working capital adjustments),” continued Mr. Boomhour.

“Many investors look at the “rule of 40” that originated for technology stocks as a key threshold for finding good quality investments. With a revenue growth rate last year of 27% and adjusted EBITDA margin of 18%, CEMATRIX is one of the few micro-cap or small-cap companies, in any industry in Canada, that pass the rule of 40. Growing revenue is easy to do if you don’t care about making money, growing profitability is hard to do – and we are doing it. We are growing revenue, improving margins, and managing our cost structure,” stated Mr. Boomhour.

“2025 was a great year, a record year. We continue to be excited and optimistic about the future for CEMATRIX and our shareholders. Looking at our backlog and prospects for next year, we expect 2026 to be another good year for the Company. We remain focused on executing our business strategy and growing our Company by delivering on quality, on time, and on budget solutions to our customers geotechnical construction challenges. People are taking notice of our results, and more opportunities continue to present themselves. The key message to our stakeholders is that we have never been in a better spot financially and strategically than we are now,” concluded Mr. Boomhour.

The following are the business and financial highlights for the fourth quarter:

Business highlights for the quarter:

Announced $6.9 million in new contracts (December 15, 2025) Business highlights subsequent to the quarter:

Announced $7.1 million in new contracts (January 19, 2026)Announced $5.2 million in new contracts (February 23, 2026) Summary financial results:

 Three months ended
December 31,  Twelve months ended
December 31,($millions)2025 2024 Change%  2025 2024 Change%Revenue12.5 10.4 2.1 20%   45.1 35.4 9.7 27% Gross Margin5.0 3.0 2.0 67%   15.8 9.4 6.4 68% Gross Margins %40% 29% 11% --   35% 27% 8% -- SG&A3.1 2.4 0.7 29%   10.0 8.9 1.1 12% Operating Income1.9 0.6 1.3 314%   5.8 0.5 5.3 1060% Adjusted EBITDA2.4 1.4 1.0 71%   8.3 3.3 5.0 152% Cashflow from Operations2.5 1.4 1.1 79%   8.2 3.1 5.1 165% Earnings per share (in cents)1.1 0.5 0.6 120%   2.7 0.2 2.5 1250%                     Cashflow from Operations is before working capital adjustments. Adjusted EBITDA is a non-GAAP measure. The Company defines and provides the calculation for adjusted EBITDA in its MD&A.

Fourth quarter financial results webinar

Management will host a webinar at 1:00 p.m. ET on Thursday, March 12, 2026, to discuss CEMATRIX’s full year and fourth quarter financial results, provide a corporate update and conclude with a question-and-answer session from online participants.

Register in advance for this webinar:
https://us02web.zoom.us/webinar/register/WN_liImdmiaTc2kcz_veaJcnQ
After registering, you will receive a confirmation email containing information about joining the webinar.

About CEMATRIX

CEMATRIX is a specialty construction contractor that produces cellular concrete solutions on site. Cellular concrete is a flowable, self-leveling, cement-based material with insulating properties. CEMATRIX provides customers with cost effective, innovative solutions to tough geotechnical construction challenges.

Applications for cellular concrete include lightweight engineered fill, MSE & retaining wall fill, lightweight insulating road subbase, flowable self compacting fill, pipe & culvert abandonments, tunnel & annular grout, tunnel & shaft backfills, underwater / tremie fills, and shallow utility & foundation insulation.

CEMATRIX is a growth Company with significant revenue, positive EBITDA, positive cashflow from operations, a very healthy balance sheet, and a strong team in place. The Company’s wholly owned operating subsidiaries include CEMATRIX (Canada) Inc. (“CCI”), Chicago based MixOnSite USA Inc. (“MOS”) and Bellingham based Pacific International Grout Company (“PIGCO”). For more information, please visit our website at www.cematrix.com.

Cautionary statement regarding forward looking statements

This news release contains forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans", "expects", "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "will be taken", "occur" or "be achieved". The forward-looking statements contained in this news release are based on certain key expectations and assumptions made by the Company, including satisfaction of regulatory requirements in various jurisdictions and the Company’s anticipated use of the net proceeds of the Offering. Forward looking statements involve risks, uncertainties and other factors disclosed under the heading "Risk Factors" and elsewhere in the Company's filings with Canadian securities regulators, which could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements.

Although the Company believes that the assumptions and factors used in preparing these forward-looking statements are reasonable based upon the information currently available to management as of the date hereof, actual results and developments may differ materially from those contemplated by these statements. Readers are therefore cautioned not to place undue reliance on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

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

For further information, please contact:
CEMATRIX Investor Relations
Phone: (403) 219-0484
[email protected]

or

Glen Akselrod – President, Bristol Capital
Phone: (905) 326-1888 ext. 1
[email protected]

Stitch Fix, Inc. (SFIX) Q2 2026 Earnings Call March 11, 2026 5:00 PM EDT

Company Participants

Cherryl Valenzuela
Matt Baer - CEO & Director
David Aufderhaar - Chief Financial Officer

Conference Call Participants

Dana Telsey - Telsey Advisory Group LLC
Dylan Carden - William Blair & Company L.L.C., Research Division
Chenyi Tian - Bernstein Institutional Services LLC, Research Division
David Bellinger - Mizuho Securities USA LLC, Research Division

Presentation

Operator

Hello, everyone. Thank you for joining us, and welcome to the Stitch Fix Second Quarter Fiscal Year 2026 Earnings Call. [Operator Instructions] I will now hand the call over to Cherryl Valenzuela, Head of Investor Relations. Please go ahead.

Cherryl Valenzuela

Good afternoon, and thank you for joining us today for the Stitch Fix Second Quarter Fiscal 2026 Earnings Call. With me on the call are Matt Baer, Chief Executive Officer; and David Aufderhaar, Chief Financial Officer. We have posted complete second quarter 2026 financial results in a press release on the Quarterly Results section of our website, investors.stitchfix.com.

We would like to remind everyone that we will be making forward-looking statements on this call, which involve risks and uncertainties. Actual results could differ materially from those contemplated by our forward-looking statements. Reported results should not be considered as an indication of future performance. Please review our filings with the SEC for a discussion of the factors that could cause the results to differ, in particular, our press release issued and filed today as well as our annual report on Form 10-K for fiscal 2025 and subsequent periodic reports filed with the SEC. Also note that the forward-looking statements on this call are based on information available to us as of today's date. We disclaim any obligation to update any forward-looking statements, except as required by law.

Please note that fiscal 2024

BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Driven Brands Holdings Inc. (“Driven Brands” or the “Company”) (NASDAQ: DRVN) common stock between May 9, 2023 and February 24, 2026, inclusive (the “Class Period”). Driven Brands investors have until May 8, 2026 to file a lead plaintiff motion. IF YOU ARE AN INVESTOR WHO SUFFERED A LOSS IN DRIVEN BRANDS HOLDINGS INC. (DRVN), CONTACT THE LAW OF.

, /PRNewswire/ -- Oak-Eagle AcquireCo, Inc. (the "Offeror") announced today the extension of the Expiration Time and Settlement Date for the previously announced offers to purchase for cash (each, a "Tender Offer" and, together, the "Tender Offers") any and all of Electronic Arts Inc.'s (NASDAQ: EA) (the "Company") outstanding (i) 1.850% Senior Notes due 2031 (the "2031 Notes") and (ii) 2.950% Senior Notes due 2051 (the "2051 Notes" and, together with the 2031 Notes, the "Notes"), and solicitations of consents (each, a "Consent Solicitation" and, together, the "Consent Solicitations") from holders of the Notes (each, a "Holder" and, collectively, the "Holders") to certain proposed amendments (the "Proposed Amendments") to the indenture, dated as of February 24, 2016, as supplemented by that certain Second Supplemental Indenture, dated as of February 11, 2021, by and between the Company and U.S. Bank Trust Company, National Association (as successor in interest to U.S. Bank National Association), as trustee (the "Trustee") (the "Indenture") (such consents being solicited are each a "Consent" and, collectively, the "Consents").

The previously announced Expiration Time of 5:00 P.M., New York City time, on March 11, 2026, has been extended with respect to all Holders to 5:00 P.M., New York City time, on April 30, 2026, unless extended or earlier terminated, and the Settlement Date has been extended to May 5, 2026, unless extended or earlier terminated. The Offeror intends to extend the Expiration Time, without extending the Withdrawal Deadline (unless required by law), such that it will remain within three business days prior to the Settlement Date, which we anticipate will occur on or about the closing date of the Merger. The Withdrawal Deadline of 5:00 P.M., New York City time, on February 24, 2026 (the "Withdrawal Deadline"), is not extended and has already expired and any Notes tendered after the Withdrawal Deadline may not be withdrawn.

The Tender Offers and the Consent Solicitations are being made in connection with, and are expressly conditioned upon the closing of, the acquisition of the Company pursuant to the Agreement and Plan ‎of Merger, dated September 28, 2025 (as it may be amended, supplemented or modified from time to ‎time, the "Merger Agreement"), by and among the Company, the Offeror and Oak-Eagle MergerCo, Inc., a Delaware corporation and a wholly-owned subsidiary of the Offeror ("Merger Sub"), pursuant to which Merger Sub will merge with and into the Company (the "Merger"), with the Company surviving the Merger as a wholly-owned subsidiary of the Offeror, in each case on and subject to the terms and conditions therein. The Offeror and Merger Sub were formed by an investor consortium consisting of The Public Investment Fund, Silver Lake and Affinity Partners, for purposes of engaging in the transactions contemplated by the Merger Agreement. The consummation of the Merger is not conditioned on the consummation of the Tender Offers and the Consent Solicitations.

The terms and conditions of the Tender Offers and Consent Solicitations are described in the Offer to Purchase and Consent Solicitation Statement relating to the Notes dated as of February 10, 2026 (as amended or supplemented from time to time, the "Offer to Purchase and Consent Solicitation Statement"). Capitalized terms used herein, but not otherwise defined, have the meanings ascribed to such terms in the Offer to Purchase and Consent Solicitation Statement.

The table below outlines the approximate principal amount of the Notes validly tendered and not validly withdrawn as of the date hereof, according to information provided by Global Bondholder Services Corporation, the depositary and information agent for the Tender Offers and the Consent Solicitations (the "Depositary and Information Agent"). Any Notes validly tendered after February 24, 2026, but on or prior to the Expiration Time, will be eligible to receive the Tender Offer Consideration set forth in the table below. The Offeror currently intends to accept all Notes tendered in the Tender Offers, subject to the satisfaction of the conditions described below.

Title of Notes

CUSIP/ISIN(1)

Outstanding
Principal
Amount

Reference
Security

Reference
Yield

Fixed
Spread
(bps)

Tender Offer
Consideration(2) (3)

Aggregate
Principal
Amount
Tendered

1.850% Senior
Notes due 2031

CUSIP:
285512AE9

ISIN:
US285512AE93

$750,000,000

3.750%
UST due
January 31,
2031

3.626 %

+0

$872.71

$67,459,000

2.950% Senior
Notes due 2051

CUSIP:
285512AF6

ISIN:
US285512AF68

$750,000,000

4.625%
UST due
November 15,
2055

4.705 %

+0

$694.79

$7,917,000

(1) The CUSIP numbers and ISINs referenced in this press release are included solely for the convenience of Holders. None of the Offeror, the Company, the Trustee, the Dealer Manager (as defined below), the Depositary and Information Agent nor their respective affiliates shall be held responsible for the selection or use of the referenced CUSIP numbers and ISINs, and no representation is made as to the correctness of any CUSIP number or ISIN on the Notes or as indicated in this press release or any other document.

(2) As defined in the Offer to Purchase and Consent Solicitation Statement. Calculated based on the Settlement Date of May 5, 2026. Subject to update pursuant to the Offer to Purchase and Consent Solicitation if the Tender Offers settle on a different date.

(3) Per $1,000 principal amount of Notes validly tendered and not validly withdrawn after February 24, 2026, but on or prior to the Expiration Time.

General Information

The Offeror's obligations to complete each Tender Offer and Consent Solicitation are subject to and conditioned upon the following having occurred or, in the case of the General Conditions, having been waived by the Offeror with respect to such Tender Offer and Consent Solicitation, as applicable: (1) the satisfaction of the Merger Condition, and (2) the satisfaction of the General Conditions. Each Tender Offer and Consent Solicitation is a separate offer and is not conditioned on any other Tender Offer or Consent Solicitation. There can be no assurance that any of the Tender Offers or the Consent Solicitations will be consummated. The Offeror may amend, extend or terminate the Tender Offers and the Consent Solicitations, in its sole discretion.

The Offeror intends to fund the Total Consideration (including accrued and unpaid interest), plus all related fees and expenses, using proceeds from the financing transactions to fund the Merger. Notes that are tendered and accepted in the Tender Offers will cease to be outstanding and will be cancelled.

Any Notes not tendered and purchased pursuant to the Tender Offers will remain outstanding. If the requisite Consents are received with respect to a series of Notes, and the Proposed Amendments become operative with respect to the Indenture for such series of Notes, then the applicable Notes that are not purchased pursuant to the Tender Offers will be subject to the Proposed Amendments. The Proposed Amendments would amend the Indenture to eliminate certain restrictive covenants, eliminate certain events of default and modify or eliminate certain other provisions with respect to such series of Notes. The Requisite Consents have not yet been received with respect to either series of Notes.

To the extent any Notes remain outstanding following the consummation of the Tender Offers and the Consent Solicitations, the Offeror currently intends to cause the Company to defease one or both series of Notes, in which case Holders of such Notes will continue to receive interest on each scheduled interest payment date and principal on the stated maturity date but will not benefit from any restrictive covenants removed pursuant to the defeasance, including the change of control repurchase obligations. The Proposed Amendments do not need to be adopted in order to defease one or both series of Notes in accordance with the terms of the Indenture. To the extent any Notes remain outstanding following the consummation of the Tender Offers and the Consent Solicitations, the Company may (or the Offeror may cause the Company to) also purchase, repurchase, redeem or otherwise acquire or retire the 2031 Notes and/or the 2051 Notes by any available means, including, without limitation, negotiated transactions, open market purchases, tender offers, redemption or otherwise, upon such terms and at such prices as the Offeror or the Company may determine. Any such transaction may be on the same terms or on terms that are more or less favorable to Holders of Notes than the terms of the Tender Offers and the Consent Solicitations and will depend on various factors existing at that time. Finally, the Company may (or the Offeror may cause the Company to) leave outstanding any Notes that remain outstanding following the consummation of the Tender Offers and the Consent Solicitations or any transaction described in this paragraph.

J.P. Morgan Securities LLC has been retained as the dealer manager in connection with the Tender Offers and as the solicitation agent in connection with the Consent Solicitations (the "Dealer Manager"). In such capacities, it may contact Holders regarding the Tender Offers and the Consent Solicitations and may request brokers, dealers, commercial banks, trust companies and other nominees to forward the Offer to Purchase and Consent Solicitation Statement and related materials to beneficial owners of Notes. Requests for documents may be directed to the Depositary and Information Agent at: +1 (855) 654 2015 or [email protected]. Questions about the Tender Offers and the Consent Solicitations may be directed to J.P. Morgan Securities LLC at (866) 834-4466 or (212) 834-3424.

This press release is for informational purposes only. The Tender Offers and the Consent Solicitations are being made solely by the Offer to Purchase and Consent Solicitation Statement. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which, or to any persons to whom, such offering, solicitation or sale would be unlawful. The Tender Offers and the Consent Solicitations are not being made to Holders of Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. In any jurisdiction in which the securities laws or blue sky laws require the Tender Offers or the Consent Solicitations to be made by a licensed broker or dealer, the Tender Offers and the Consent Solicitations will be deemed to be made on behalf of the Offeror by the Dealer Manager, or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction.

None of the Offeror, the Company, the Trustee, the Depositary and Information Agent, the Dealer Manager or any of their respective affiliates makes any recommendation as to whether Holders should tender or refrain from tendering their Notes, and no person or entity has been authorized by any of them to make such a recommendation. Holders must make their own decision as to whether to tender Notes and, if so, the principal amount of the Notes to tender.

Forward-Looking Statements

This press release contains or incorporates by reference certain "forward-looking statements" within ‎the meaning of the federal securities laws. All statements other than statements of historical facts are forward-looking statements. In many cases, you can identify forward-looking statements by terms such ‎as "may," "will," "should," "expect," "plan," "anticipate," "could," "intend," "target," "project," "contemplate," ‎‎"believe," "estimate," "predict," "potential" or "continue" or other similar words. These forward-looking ‎statements are only predictions. These statements relate to future events and ‎involve known and unknown risks, uncertainties and other important factors that may cause the ‎actual outcomes to materially differ from those expressed or implied by these forward-looking statements. New factors ‎could emerge from time to time and it is not possible for us to predict all such factors. Because forward-looking ‎statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, ‎you should not rely on these forward-looking statements as guarantees of future events. These forward-looking ‎statements speak only as of the date made and are not guarantees of future performance of results, including the closing of the Merger and successful completion of the Tender Offers and the Consent Solicitations. The Offeror expressly ‎disclaims any obligation or undertaking to release any updates or revisions to any forward-looking statement ‎contained or incorporated by reference herein to reflect any change in expectations with regard thereto or any ‎change of events, conditions or circumstances on which any such statement was based, except as required by law.‎

SOURCE Oak-Eagle AcquireCo, Inc.

, /PRNewswire/ -- Jin Medical International Ltd. (NASDAQ: ZJYL) ("Jin Medical", and together with all its subsidiaries and consolidated entities, the "Company"), a NASDAQ-listed leading provider of rehabilitation medical equipment, today announced that its Board of Directors has approved an 1-for-20 share combination of all its authorized and issued ordinary shares (the "Stock Combination") pursuant to the authorization granted from an extraordinary general meeting of the Company's shareholders on January 30, 2026 (the "EGM"). Effective as of the date of the EGM, the Company's authorized share capital is reclassified into a dual class of Class A ordinary shares and Class B ordinary shares (the "Reclassification"). As a result of the Reclassification and the Stock Combination, the Company's authorized share capital will be US$50,000 divided into 45,000,000 Class A ordinary shares of a par value of US$0.001 each, and 5,000,000 Class B ordinary shares of a par value of US$0.001 each. In accordance with the requirements under Cayman Islands law, the Company has filed the second amended and restated memorandum and articles of association with the Registrar of Companies in the Cayman Islands to reflect the Reclassification. The Company has also filed the EGM minutes along with the board resolutions approving the Stock Combination with the Registrar of Companies in the Cayman Islands to effectuate the Stock Combination.

The Stock Combination will become effective on March 16, 2026 at 09:00 a.m., Eastern Time.

The Company's Class A ordinary shares will continue to trade on The Nasdaq Capital Market ("Nasdaq") under the existing symbol "ZJYL" and will begin trading on a consolidation-adjusted basis when the market opens on March 16, 2026. The new CUSIP number for the Class A ordinary shares following the Stock Combination will be G5140V120.

At the effective time of the Stock Combination, every 20 shares of the Company's authorized and issued ordinary shares (including all Class A ordinary shares and Class B ordinary shares) will be combined into 1 share of ordinary share in the respective share class. This will reduce the number of issued and outstanding shares of Class A ordinary shares from 136,547,100 shares to 6,827,355 shares, and reduce the number of issued and outstanding shares of Class B ordinary shares from 20,000,000 shares to 1,000,000 shares.

The Company believes the Stock Combination is a proactive measure as part of the Company's strategic plan to maintain compliance with Nasdaq's continued listing requirements, while it is also intended for strengthening the Company's long-term capital structure. 

About Jin Medical International Ltd.

Founded in 2006 and headquartered at Changzhou, Jiangsu Province of China, Jin Medical designs, develops, manufactures and markets wheelchairs and living aids products for people with disabilities, elderlies, and for rehabilitation application. Currently, Jin Medical already operates two manufacturing plants of approximately 230,000 square feet in the aggregate in Changzhou City and Taizhou City, Jiangsu Province, China. Jin Medical is currently establishing a new facility with 430,000 square feet in Chuzhou, Anhui Province, China. Jin Medical works with more than 40 distributors in China and more than 20 international distributors. The majority of Jin Medical's wheelchair products, with more than 30 models, are sold to distributors in Japan and China. Jin Medical continuously delivers innovative wheelchair products that are both lightweight and ergonomic. For more information, please visit: http://www.jinmed.com.

Forward-Looking Statement

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performances, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may", "will", "should", "intend", "plan", "strive", "believe", "expect", "anticipate", "project", "estimate," or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks, including, but not limited to, the following: the Company's ability to achieve its goals and strategies, the Company's future business development and plans for future business development, including its financial conditions and results of operations, product and service demand and acceptance, reputation and brand, the impact of competition and pricing, changes in technology, government regulations, import and export restrictions, fluctuations in general economic and business conditions, and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the U.S. Securities and Exchange Commission ("SEC"). For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, as well as its current reports on Form 6-K and other filings, all of which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

For more information, please contact:
[email protected]

SOURCE Jin Medical International Ltd.

BBB Foods (TBBB - Free Report) reported $1.2 billion in revenue for the quarter ended December 2025, representing a year-over-year increase of 47.4%. EPS of -$0.49 for the same period compares to -$0.01 a year ago.

The reported revenue represents a surprise of -3.43% over the Zacks Consensus Estimate of $1.24 billion. With the consensus EPS estimate being -$0.28, the EPS surprise was -75%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how BBB Foods performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Number Distribution Centers Opened: 20 versus 20 estimated by two analysts on average.Same Store Sales Growth: 16.6% versus 14.6% estimated by two analysts on average.Number of Stores Opened: 184 versus 158 estimated by two analysts on average.Total Stores: 3,346 versus the two-analyst average estimate of 3,320.View all Key Company Metrics for BBB Foods here>>>

Shares of BBB Foods have returned -11.6% over the past month versus the Zacks S&P 500 composite's -2.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

Exodus Movement, Inc. (EXOD) Q4 2025 Earnings Call March 11, 2026 5:00 PM EDT

Company Participants

J. Richardson - Chairperson & CEO
James Gernetzke - CFO & Secretary

Conference Call Participants

Chris Merkel
Andrew Harte - BTIG, LLC, Research Division
Edward Engel - Compass Point Research & Trading, LLC, Research Division
Mike Grondahl - Northland Capital Markets, Research Division
Kevin Dede - H.C. Wainwright & Co, LLC, Research Division

Presentation

Chris Merkel

Hi, everyone. Welcome to Exodus' Fourth Quarter 2025 Earnings Call. I'm your host, Chris Merkel. And with us today are Exodus' Co-Founder and CEO, JP Richardson; and CFO, James Gernetzke.

During today's call, we may make forward-looking statements. The company cautions investors that any forward-looking statement involves risks and uncertainties and is not a guarantee of future performance. Actual results may vary materially from those expressed or implied in the forward-looking statements due to a variety of factors. These factors are described in forward-looking statements in our earnings press release and our most recent Form 10-K filed with the Securities and Exchange Commission available on the Investor Relations portion of our website. We do not undertake any obligation to update forward-looking statements. As always, feel free to visit our social media accounts on X or Reddit to submit questions for our Investor Relations team after our call.

Let's go to JP to discuss Exodus' fourth quarter and full year 2025.

J. Richardson
Chairperson & CEO

Thank you, everyone, for joining. I want to try something a little different today. I've been told multiple times that my opening on earnings calls just doesn't sound like me. And I think that's a fair criticism. So we're going to keep this more conversational, a lot like how we speak publicly on interviews or even internally in company all-hands calls.

So often, I love to tell

Ripple has launched a new share buyback program that would value the firm at approximately $50 billion, positioning it among the most valuable companies in the digital asset industry at a time when the broader cryptocurrency market is facing heightened volatility.

According to people familiar with the matter, the company plans to repurchase up to $750 million in shares from investors and employees through a tender offer expected to run until April. The details of the program have not been publicly disclosed, and Ripple declined to comment on the transaction.

The development follows a major funding round completed in November, when Ripple raised $500 million at a $40 billion valuation. The round included backing from financial firms such as Citadel Securities and Fortress Investment Group, reinforcing institutional interest in the company’s blockchain-based financial infrastructure.

Over the past year, Ripple has expanded its strategic focus beyond its traditional payments business by pursuing acquisitions designed to broaden its capabilities in digital asset markets. One of the most significant moves was the acquisition of Hidden Road for approximately $1.25 billion, a deal intended to strengthen the company’s position in institutional brokerage, liquidity services, and stablecoin infrastructure.

The current buyback initiative follows an earlier attempt by Ripple to repurchase roughly $1 billion worth of shares at a $40 billion valuation. That offer reportedly attracted limited participation from employees, many of whom chose to retain their holdings instead of selling their shares.

Market conditions have shifted notably since that previous offer. Bitcoin has fallen more than 40% from its peak reached in early October, while XRP, the digital asset closely associated with Ripple’s ecosystem, has declined by more than 50% during the same period.

Despite the downturn in crypto markets, Ripple continues to report strong activity across its network. Earlier this month, the company announced that its payment infrastructure has processed more than $100 billion in total transactions, highlighting ongoing institutional adoption of its blockchain-based financial services.

Source: Information reported by Bloomberg.

Disclaimer: This content is for informational purposes only and does not constitute financial or investment advice. Company valuations and cryptocurrency markets can change rapidly due to market conditions and regulatory developments.

TL;DR:

Societe Generale-FORGE has deployed EUR CoinVertible (EURCV), its MiCA-compliant stablecoin, on the Stellar network to enhance cross-border payments. Despite this institutional milestone, a negative Chaikin Money Flow (CMF) indicates a net capital outflow and a lack of investor conviction. XLM is currently trading at $0.156, with a $3.18 million liquidation risk for long positions if it drops below $0.145. The Stellar ecosystem garnered institutional attention following Societe Generale-FORGE’s (SG-FORGE) announcement regarding the deployment of EUR CoinVertible (EURCV) on its network. This stablecoin, which strictly adheres to the European Union’s MiCA framework, aims to leverage Stellar’s infrastructure to provide fast, low-cost transactions.

However, the backing of one of France’s largest banks has not been enough to halt the market’s downward inertia. So far, a bearish sentiment prevails among investors, with weakened retail participation leaving the asset exposed to further corrections.

Critical Levels: Between Fibonacci Support and Liquidation XLM is currently trading at $0.156, barely holding above the critical support at $0.155 after a 38.2% retracement. Although the price action is forming a falling wedge—a pattern that theoretically precedes bullish breakouts—money flow indicators (CMF) suggest that capital is exiting the asset rapidly.

The futures market reflects this uncertainty, leaning slightly toward short positions. The true danger lies at the $0.145 level; a break below this point would trigger a $3.18 million liquidation cascade, potentially accelerating a descent toward the market floor at $0.136.

For the scenario to shift, XLM must validate its current support and break the $0.166 resistance. Only a sustained close above $0.175 would invalidate the bearish thesis, confirming that the institutional adoption of stablecoins is finally reflecting in the network’s intrinsic value.

In summary, high volatility is expected in the coming days as the price tests the base of the wedge. Traders should closely monitor entry volume, as without a real shift in capital flow, the SG-FORGE news risks becoming a “buy the rumor, sell the news” event.