Market Signal Briefing

Dogecoin price risks a 23% crash as a descending triangle nears breakdown. Buyer momentum collapses 87% while $0.0881 support stands as the last defense.

Dogecoin is trading at $0.09515, up 5.44% in the last 24 hours. A descending triangle has compressed prices since January, when DOGE climbed above $0.14. The structure has delivered a steady series of lower highs. A flat support floor at $0.0881 is now the only barrier between current prices and a deeper correction.

Technical structure, on-chain data, and market sentiment are all pointing in the same direction. Unless a significant demand catalyst emerges, the path of least resistance for DOGE is lower.

New Address Growth Collapses 87% in Ten DaysOn March 13, Dogecoin attracted approximately 74,150 new wallet addresses, the highest reading since a comparable spike near 75,000 on February 25. Both surges proved short-lived. New address creation collapsed to roughly 9,650 by March 21–22, an 87% decline from the March 13 peak in under two weeks.

That figure marks the lowest level of the entire February–March window. The pattern is consistent. Each spike in new addresses aligned with DOGE as it attempts to recover above $0.10. Each time, newly arrived buyers failed to hold positions and exited within days.

The result is a market that draws buyers at resistance, then loses them quickly. Demand is not accumulating. It is being exhausted.

Realized Losses Hit Deepest Level Since JanuaryNetwork Realized Profit/Loss data from Santiment confirms the stress. The DOGE network has been realizing losses almost continuously since late January. Around March 21–22, the reading reached approximately -$868K, the deepest single-period loss figure visible over the measured timeframe.

This surpasses the February 5 and March 7 loss episodes. Loss-taking at this scale typically reflects recently acquired holders cutting exposure rather than waiting for a reversal. Combined with collapsing new address data, the market is absorbing selling pressure faster than fresh capital can offset it.

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Newton Gitonga covers cryptocurrencies, blockchain, and digital finance. He specializes in breaking down complex trends with clear, data-driven reporting. His work focuses on market analysis, technical insights, and the evolving role of altcoins in shaping global markets.

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Dogecoin (DOGE) News

NEW YORK, March 23, 2026 /PRNewswire/ -- The AllianceBernstein Closed-End Funds declared the following distributions today:

FUND NAME AND DISTRIBUTIONS

EX-DATE

RECORD DATE

PAYMENT DATE

AllianceBernstein Global High Income Fund, Inc. (NYSE: AWF)

4/2/2026

4/2/2026

4/17/2026

$0.0655 per share of investment income

AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB)

4/2/2026

4/2/2026

4/17/2026

$0.05018 per share of investment income

The Funds are managed by AllianceBernstein L.P.

SOURCE AllianceBernstein Closed-End Funds

Revenue Growth Driving Group to Record EBITDA

•Revenue of $186.5 million with organic revenue growth of 6.2%•Record Adjusted EBITDA of $45.4 million, up 17.7% year over year, achieved at a margin of 24.3%•Successfully completed our $45.8 million IPO in the US and dual-listing on Nasdaq in January 2026•Net Debt of $26.6 million has reverted to a Net Cash position in 2026 •Completed two acquisitions in 2025, further expanding PPHC's capabilities and geographic reach   WASHINGTON, March 23, 2026 (GLOBE NEWSWIRE) -- Public Policy Holding Company, Inc. ("PPHC," "Company," "Group") (Nasdaq: PPHC and AIM: PPHC.L), a leading global strategic communications provider offering a comprehensive range of advisory services in the areas of Government Relations, Corporate Communications, and Public Affairs, today reported unaudited financial results for the year ended December 31, 2025 ("FY 2025").

Q4 2025 Financial Highlights

•Q4 revenue increased 27.8% over the prior period to $49.9 million, with organic growth contributing 5.4%.•GAAP Net Loss of $(15.2) million compared to $(6.7) million in Q4 2024.•Adjusted EBITDA of $12.4 million, up 27.1% over the prior period, achieved at a 24.9% margin.•Adjusted Net Income of $11.3 million was up 66.1%.•GAAP Basic and diluted loss per share of $(0.86) compared to $(0.46) in Q4 2024.•Adjusted fully diluted EPS of $0.42 was up $0.15 or 58.0%.   FY 2025 Financial Highlights

•FY revenue increased 24.7% to $186.5 million, with organic growth contributing 6.2%.•GAAP Net Loss of $(39.0) million compared to $(24.0) in 2024.•Adjusted EBITDA of $45.4 million, up 17.7%, and achieved at a 24.3% margin.•Adjusted Net Income of $36.6 million was up 32.1%.•GAAP Basic and diluted loss per share of $(2.37) compared to $(2.34) in 2024.•Adjusted fully diluted EPS of $1.39 was up $0.27 or 24.7%.•GAAP Net Cash Provided by Operations of $24.8 million compared to $16.4 million in 2024.•Adjusted Free Cash Flow of $36.9 million (2024: $22.2 million).•Final dividend of $0.240 per Common Outstanding Share; total dividend for FY 2025 $0.355 per share. Adjusted EBITDA, Adjusted EBITDA margin, Adjusted EBITDA Incl. M&A expense, Adjusted net income, Adjusted EPS, fully diluted, Organic Revenue Growth, Adjusted Free Cash Flow, are non-GAAP financial measures, as defined and reconciled below.

Stewart Hall, CEO of PPHC, commented:

"The Company's performance in 2025 was strong, with a marked uptick in organic growth supplemented by our well-established M&A program. We have built a diversified platform of high quality businesses that operate across the political spectrum, giving us broad-based resilience and the ability to drive organic revenue growth and achieve attractive margins in a volatile operating landscape.

In 2025, our M&A program continued at pace: we acquired firms that broaden our service offerings and extend our global reach, in line with our strategy. We expect further strategic progress in 2026, supported by a strong and recently enhanced balance sheet following our US IPO.

We continue to operate in a fast-moving and complex policy landscape, meaning our clients - including nearly half of the Fortune 100 - require increasing levels of support and continue to turn to PPHC as partner of choice. The tailwinds driving organic growth are set to continue, positioning us well for the balance of the fiscal year and reinforcing our longer-term outlook."

Operational Highlights

Significant progress in line with the Group's stated growth strategy, with earnings accretive acquisitions providing an enhanced complementary range of services to the Group's international client base: Organically, the Group recorded 6.2% growth in revenue for FY 2025, year-on-year which represents a step-up from the 2.7% growth in FY 2024, supported by a significant rebound in Corporate Communications and Public Affairs.Acquired TrailRunner, expanding group-wide capabilities in Corporate Communications and providing cross referral revenue opportunities.Acquired Pine Cove Capital, LLC (renamed "Pine Cove Strategies"), a Texas-based strategic consulting firm, adding to the Group's state-based government relations capabilities. Revenue remained highly diversified with the top 10 Group clients representing 9.2% of revenue in 2025 versus 8.7% in 2024; and revenue mix by segment was further diversified with Corporate Communications & Public Affairs segment representing 34.9% in FY 2025 of total revenue (2024: 24.3%).By segment: Government Relations Consulting grew at 5.9% for FY 2025, as compared to FY 2024 (3.6% organically compared to FY 2024).Corporate Communications & Public Affairs Consulting increased by 78.7% for the FY 2025, as compared to FY 2024 (8.9% organically compared to FY 2024).Compliance and Insights Services continued its strong growth at 21.5% for the FY 2025, as compared to FY 2024 (reported and organic) as a result of high renewal rates, price increases, and new clients wins, all together reflective of a unique and high value-added offering. The Group grew its client base to approximately 1,400 (2024: 1,200), with representations of approximately half of the Fortune 100 in addition to many more via trade associations; this is evidence that our retention rates remain high.PPHC ended FY 2025 with 613 clients spending more than $100,000 (2024: 503 clients) and 176 spending more than $250,000 (2024: 137 clients). Financial Outlook

Roel Smits, CFO of PPHC, commented:

"With the completion of our recent capital raise and US IPO, PPHC enters the next phase of growth from a position of strength. Our balance sheet flexibility allows us to pursue earnings-accretive acquisitions while our strong cashflow allows us to continue investing in organic growth initiatives. Momentum from Q4 has set us up well for a good start to 2026.

In general, PPHC expects to continue growing revenue at an average organic rate of approximately 5%, and this will be supplemented by acquisitions. We generally anticipate Adjusted EBITDA to come in at a margin around 25%, although in 2026 we will experience the impact from assuming US public company costs and certain technology investments.

Our focus continues to be on driving client retention rates, new business generation, and the continued cross-selling of services across the member companies to support organic growth prospects. Clients are increasingly seeking integrated support to manage complex reputational, regulatory, and stakeholder challenges.

The market for Strategic Communications services in key geographies remains fragmented. Management continues to view the Group as a natural consolidator, and the pipeline of acquisition opportunities under development in the U.S., U.K., and mainland Europe remains robust. The Group is actively seeking to expand its portfolio of member companies internationally with strategically and financially attractive opportunities while adding complementary specializations."

Conference Call Webcast Information

PPHC management will host a conference call to discuss the Company’s financial results today at 4:30 p.m. Eastern Time. The call will be led by Stewart Hall, Chief Executive Officer, Roel Smits, Chief Financial Officer, and Thomas Gensemer, Chief Strategy Officer.

Date: Monday, March 23, 2026

Time: 4:30 p.m. Eastern Time

Webcast: Participants may access the conference call via live webcast at https://edge.media-server.com/mmc/p/hqweq9hx/.

Dial-in: To participate via telephone, please register in advance and receive a unique PIN at https://register-conf.media-server.com/register/BI23772b4493ce4ac6b83992079c865d5f

A replay of the webcast of the conference call will be available on the Investor Relations section of the Company’s website at

investors.pphcompany.com.

About PPHC

Incorporated in 2014, PPHC is a global government relations, public affairs and strategic communications group providing clients with a fully integrated and comprehensive range of services including government and public relations, research, and digital advocacy campaigns. Engaged by approximately 1,400 clients, including companies, trade associations and non-governmental organizations the Group is active in all major sectors of the economy, including healthcare and pharmaceuticals, financial services, energy, technology, telecoms and transportation. PPHC's services support clients to enhance and defend their reputations, advance policy goals, manage regulatory risk, and engage with federal and state-level policy makers, stakeholders, media, and the public.

Operational Review 

Introduction

The Group made significant progress in 2025, combining organic growth with two strategically important, earnings-accretive acquisitions. The integration of our Q2 2025 acquisition of TrailRunner International significantly enhances our global corporate communications capabilities, while the addition of our Q3 2025 acquisition of Pine Cove Strategies further strengthens our Government Relations presence in the State of Texas, together advancing our mission to deliver strategic communications services at greater scale, breadth, and sophistication.

As of December 31, 2025, the Group had approximately 1,400 clients. Every year approximately 77% of these clients renew their relationship with the Group, leading to revenue retention of approximately 86%, demonstrating the strength of the Group’s services, client relationships, and the quality of our earnings.

A key focus of the Group remains on retained clients with greater annual spending above certain thresholds. PPHC ended FY 2025 with 613 clients spending more than $100,000 (2024: 503 clients) and 176 spending more than $250,000 (2024: 137 clients). This increase was supported by a variety of factors, including increasing cross-company client development, PPHC's internal referral awards system, and compensation programs that are based on Group-wide performance. In January 2025, we were pleased to appoint John Green as Chief Client Officer, a new role underscoring PPHC's commitment to maximizing cross-firm collaboration.

In FY 2025, the Group directly represented close to half of the Fortune 100, in addition to many more via their trade associations that the Group serves.

Financial Review

Certain monetary amounts, percentages and other figures included elsewhere in this earnings release have been subject to rounding adjustments. Accordingly, figures shown as totals in certain tables or charts may not be the arithmetic aggregation of the figures that precede them, and figures expressed as percentages in the text may not total 100% or, as applicable, when aggregated may not be the arithmetic aggregation of the percentages that precede them.

Adjusted Profit & Loss Statement

 (Amounts in millions, except per share data) Three months ended December 31, Years Ended December 31,  2025   2024  $ Change % Change  2025   2024  $ Change % ChangeRevenue$49.9  $39.0  $10.8  27.8%  $186.5  $149.6  $36.9  24.7% GAAP Net loss$(15.2) $(6.7) $(8.6) 128.3%  $(39.0) $(24.0) $(15.0) 62.8% Adjusted EBITDA$12.4  $9.8  $2.7  27.1%  $45.4  $38.6  $6.8  17.7% Adjusted EBITDA margin 24.9%   25.0%   (0.1)pts     24.3%   25.8%   (1.5)pts   M&A expense$(0.4) $(0.8) $0.3  (44.7)%  $(0.8) $(2.4) $1.6  (65.6)% Adjusted EBITDA incl M&A expense$12.0  $9.0  $3.0  33.4%  $44.5  $36.1  $8.4  23.3% Depreciation $—   $—   $—  27.1%  $(0.2) $(0.1) $(0.1) 73.5% Adjusted EBIT$11.9  $9.0  $3.0  33.4%  $44.4  $36.0  $8.4  23.3% Interest$(0.9) $(0.5) $(0.4) 80.4%  $(3.3) $(1.7) $(1.6) 92.8% Adjusted EBT$11.0  $8.4  $2.6  30.5%  $41.0  $34.3  $6.7  19.5% Taxes$0.3  $(1.7) $1.9  (115.9)%  $(4.4) $(6.5) $2.1  (32.1)% Effective tax rate (2.4)%   19.6%   (21.9)pts     10.7%   19.1%   (8.4)pts   Adjusted Net Income$11.3  $6.8  $4.5  66.1%  $36.6  $27.7  $8.9  32.1% Adjusted Net Income margin 22.6%   17.4%   5.2pts     19.6%   18.5%   1.1pts                   GAAP basic and diluted loss per share (0.86)  (0.46)  (0.40) 86.6%   (2.37)  (2.34)  (0.03) 1.4% Adjusted EPS ($) (basic) 0.45   0.28   0.17  58.5%   1.48   1.17   0.31  26.4% Adjusted EPS ($) (fully diluted) 0.42   0.27   0.15  58.0%   1.39   1.11   0.27  24.7% Dividend paid, per share 0.221   0.262   (0.041) (15.6)%   0.344   0.702   (0.358) (51.0)% 
Bridge from Adjusted to Reported Results

 (Amounts in millions) Three months ended December 31, Years Ended December 31,  2025   2024  $ Change % Change  2025   2024  $ Change % Change                Adjusted Net Income$11.3  $6.8  $4.5  66.1%  $36.6  $27.7  $8.9  32.1% Share-based accounting charge 7.4   8.0   (0.6) (7.0)%   29.6   31.8   (2.2) (6.8)% M&A: Post-combination comp 8.5   2.9   5.7  198.5%   21.3   11.6   9.7  83.4% M&A: bargain purchase (2.0)  —   (2.0) —   (2.0)  (2.5)  0.4  (17.1)% M&A: change in contingent consideration 0.2   0.1   0.1  39.5%   5.1   1.9   3.2  169.5% Long Term Incentive Program charges 2.5   1.2   1.3  105.2%   7.1   4.2   2.9  70.3% Amortization intangibles 1.5   1.3   0.1  11.5%   6.0   4.7   1.4  29.4% Loss on impairment of intangible assets$2.9   $—  $2.9  —  $2.9   $—  $2.9  — Loss on impairment of goodwill$6.2   $—  $6.2  —  $6.2   $—  $6.2  — Other income, net$(0.6)  $—  $(0.6) —  $(0.6)  $—  $(0.6) — Net Income (Reported)$(15.2) $(6.7) $(8.6) 128.3%  $(39.0) $(24.0) $(15.0) 62.8% 
Management reviews the progress and performance of its business on the basis of the Adjusted Net Income shown above. The items excluded from the Adjusted Net Income above, while included in our GAAP results, have been shown in the Bridge above. These excluded items do not have a cash impact nor do they reflect ongoing performance of the underlying business. Please refer to the section ‘basis of preparation’ for a discussion of each of the non-cash items excluded from Adjusted Net Income.

Please note that, during Q2 2025, the Company redefined its Underlying EBITDA definition to be Adjusted EBITDA. Adjusted EBITDA excludes expenses related to M&A transactions (which includes M&A related advisory fees, debt origination, and transaction taxes) as follows:

  (Amounts in millions)  Three months ended December 31, Years ended December 31,Old DefinitionNew Definition 2025  2024  2025  2024Underlying EBITDAEBITDA including M&A$12.0 $9.0 $44.5 $36.1Remove: M&A ExpensesM&A Expenses 0.4  0.8  0.8  2.4Adjusted EBITDAEBITDA excluding M&A$12.4 $9.8 $45.3 $38.6 M&A expenses were $0.8 million for the year ended December 31, 2025, down from $2.4 million in 2024, with 2024 reflecting a substantial investment in M&A expenses driven by the first international acquisition performed by PPHC as well as debt acquisition charges. For its acquisitions in 2025, the Company utilized less external resources and was able to build off the international platform created in 2024.

Revenue

 ($ in millions, except percentages)     Three months ended December 31,      2025  2024     Revenue from acquisitions Organic revenue Total revenue Total revenue Organic Revenue Growth(1) Total GrowthGovernment Relations Consulting$0.8 $26.8 $27.6 $25.9 3.6% 6.6%Corporate Communications & Public Affairs Consulting 7.9  10.9  18.9  10.4 5.5% 82.1%Compliance and Insights Services —  3.4  3.4  2.8 22.6% 22.6%Total$8.7 $41.1 $49.9 $39.0 5.4% 27.8%  ($ in millions, except percentages)     Years ended December 31,      2025  2024     Revenue from acquisitions Organic revenue Total revenue Total revenue Organic Revenue Growth(1) Total GrowthGovernment Relations Consulting$2.3 $106.2 $108.5 $102.5 3.6% 5.9%Corporate Communications & Public Affairs Consulting 25.4  39.7  65.1  36.4 8.9% 78.7%Compliance and Insights Services —  13.0  13.0  10.7 21.5% 21.5%Total$27.7 $158.9 $186.5 $149.6 6.2% 24.7%  ($ in millions, except percentages) Three months ended December 31, Years ended December 31,  2025  2024 $ change % change  2025  2024 $ change % changeUnited States$47.3 $37.3 $10.0 26.8% $177.6 $145.5 $32.1 22.1%International 2.5  1.7  0.8 49.6%  8.9  4.1  4.8 117.1%Revenue by geographic market$49.9 $39.0 $10.8 27.8% $186.5 $149.6 $36.9 24.7%
The Group’s total revenue for the three and twelve months ended December 31, 2025 increased by 27.8% and 24.7% to $49.9 million and $186.5 million, respectively, as compared to $39.0 million and $149.6 million reported for the same periods in 2024. The organic growth rate was 5.4% and 6.2% as compared to the same periods in 2024, demonstrating the stability of the Group’s core business operations, the dedication of our management teams across our member companies, and the critical importance of our work to our clients, with the remainder of growth driven by the successful integration of Lucas Public Affairs, Pagefield Communications (acquisitions completed in Q2 2024) which are now meaningfully contributing to the Group’s financial performance, TrailRunner International (completed in Q2 2025), and Pine Cove Strategies (completed in Q3 2025).

Organic growth of 5.4% and 6.2% for the three and twelve months ended December 31, 2025, respectively, was the outcome of continued organic growth in Government Relations at 3.6% and 3.6%, Corporate Communications & Public Affairs at 5.5% and 8.9% and Compliance and Insights Services at 22.6% and 21.5%.

During the three and twelve months ended December 31, 2025, 55.3% and 58.1%, respectively, of the Group’s revenues stemmed from Government Relations as compared to the same periods in 2024 of 66.3% and 68.5%, 37.9% and 34.9% came from Corporate Communications & Public Affairs as compared to the same periods in 2024 of 26.6% and 24.3%, and 6.9% and 7.0% from Compliance and Insights Services as compared to the same periods in 2024 of 7.2%.

The Group's revenue realized outside of the US was $2.5 million, or 5.1%, and $8.9 million, or 4.8%, for the three and twelve months ended December 31, 2025, respectively, as compared to $1.7 million, or 4.4%, and $4.1 million, or 2.7%, for the three and twelve months ended December 31, 2024, respectively.

Profit

Long-term Profit

 (dollars in millions)  FY  FY  FY  FY   2022  2023  2024  2025 GAAP Net loss$(15.0)$(14.2)$(24.0)$(39.0)Adjusted EBITDA$31.5 $35.4 $38.6 $45.4 Adjusted EBITDA margin 29.0%  26.2%  25.8%  24.3% 
GAAP Net losses increased from $(24.0) million in 2024 to $(39.0) million in 2025, the losses primarily being the result of a $29.6 million share based accounting charge stemming from the UK IPO and the treatment of acquisitions in our accounts. The increase in loss in 2025 was driven by a $9.7 million increase in post-combination compensation charges primarily stemming from the Lucas, Pagefield, TrailRunner and Pine Cove acquisitions, a $9.1 million impairment charge related to Pagefield's intangibles and goodwill, and an increase of $3.2 million in the change in fair value of contingent consideration.

Adjusted EBITDA for the three and twelve months ended December 31, 2025 of $12.4 million and $45.4 million, up 27.1% and 17.7% from the same periods in 2024, was achieved at a margin of 24.9% and 24.3%, close to the Group’s historic performance, while reflecting the change in businesses mix with highly profitable Government Relations activities reducing in relative weight, as well as a partial restoration of the bonus pool.

Revenue and Profit by Segment ($ in millions)  Three months ended December 31,Years ended December 31,   2025   2024  % variance  2025   2024  % varianceGovernment Relations            Revenue $27.6  $25.9  6.6%  $108.5  $102.5  5.9% Segment Adjusted pre-bonus EBITDA  12.8   11.5  10.8%  $48.5  $46.9  3.4% Segment Adjusted pre-bonus EBITDA margin  46.3%   44.6%  1.8pts   44.7%   45.8%  (1.1)pts              Corporate Communications and Public Affairs            Revenue $18.9  $10.4  82.1%  $65.1  $36.4  78.7% Segment Adjusted pre-bonus EBITDA $6.1  $2.8  117.5%  $18.8  $7.8  141.7% Segment Adjusted pre-bonus EBITDA margin  32.3%   27.0%  5.3pts   28.9%   21.4%  7.5pts              Compliance and Insights Services            Revenue $3.4  $2.8  22.6%  $13.0  $10.7  21.5% Segment Adjusted pre-bonus EBITDA $1.9  $1.4  42.1%  $7.1  $5.1  39.5% Segment Adjusted pre-bonus EBITDA margin  56.0%   48.3%  7.7pts   54.7%   47.7%  7.0pts              Total            Revenue $49.9  $39.0  27.8%  $186.5  $149.6  24.7% Segment Adjusted pre-bonus EBITDA $20.8  $15.7  32.6%  $74.5  $59.8  24.5% Segment Adjusted pre-bonus EBITDA margin  41.7%   40.2%  1.5pts   39.9%   40.0%  (0.1)pts              Non-allocated Bonus  (5.5)  (3.3) 67.8%   (16.7)  (10.4) 61.1% Non-allocated Corporate costs  (2.8)  (2.6) 8.1%   (12.4)  (10.9) 13.6% Adjusted EBITDA  12.4   9.8  27.2%   45.4   38.6  17.7% Adjusted EBITDA Margin  24.9%   25.0%  (0.1)pts   24.3%   25.8%  (1.5)pts GAAP Net loss  (15.2)  (6.7) 128.3%   (39.0)  (24.0) 62.8% 
In Government Relations, revenue has increased by 5.9% in the year ended December 31, 2025 as a consequence of continued organic growth in tandem with the acquisitions of Pagefield (2024 Q2) and Pine Cove Strategies (2025 Q3). The margin of Segment Adjusted pre-bonus EBITDA remained relatively stable at 44.7%, reflecting the stable pricing of retainer contracts both at U.S. Federal and State level.

In Corporate Communications and Public Affairs, revenue has increased by 78.7% in the year ended December 31, 2025 as a consequence of continued strong organic growth, rebounding from a slower first six months in 2024, in tandem with the acquisitions of Pagefield, Lucas Public Affairs (both 2024 Q2) and Trailrunner International (2025 Q2) . The margin of Segment Adjusted pre-bonus EBITDA increased significantly from 21.4% in 2024 to 28.9% in 2025, reflecting the operating leverage effects of realizing higher revenues, although still operating at margins that are lower than the Group's average.

In Compliance and Insights Services, revenue has increased by 21.5% in the year ended December 31, 2025 as a consequence of continued strong organic growth. The margin of Segment Adjusted pre-bonus EBITDA further improved to 54.7%, reflecting the strong pricing of subscription contracts in this area, in combination with the increased use of technology in servicing our clients.

Non-allocated Bonus went up from $10.4 million to 16.7 million in the year ended December 31, 2025, as a result of the growth in pre-bonus EBITDA as well as the restoring of the bonus pool

Non-allocated Corporate costs went up from $10.9 million to $12.4 million in the year ended December 31, 2025, as a result of the building of a robust central platform for supporting our clients, the dual listing, our further growing group of member companies, Also external advisory costs increased as a consequence of these same factors.

After interest and taxes, the Group’s Adjusted Net Income for the year ended December 31, 2025 amounted to $36.6 million, up 32.1% from $27.7 million in 2024.

Other

The Group’s net finance costs for the year ended December 31, 2025 were $3.3 million as compared to 2024 of $1.7 million, reflecting the inclusion of additional debt on the Group’s balance sheet for the acquisitions of Lucas Public Affairs and Pagefield in Q2 2024, and TrailRunner in Q2 2025.

The income tax (expense) benefit tax accrual for the year ended December 31, 2025 was $4.4 million as compared to $6.5 million in 2024, which represents a blended effective tax charge of 10.7% for the year ended December 31, 2025 to Adjusted Profit before Tax. This rate represents a substantial improvement over the 19.1% effective rate in 2024. The reduction was driven by structural and temporary differences between tax accounting and GAAP accounting. At a high level, the two primary driving factors are amortization of goodwill for tax purposes and the vesting of long-term incentive program ("LTIP") compensation.

The Group ended 2024 with 367 employees and at December 31, 2025 this had increased to 450, primarily as a result of the acquisition of TrailRunner. The Group’s average employee count during the year ended December 31, 2025 was 426 (2024: 349).

Cash Flow

PPHC's GAAP Cash Flow statement as presented below on page 22 of this earnings release, has certain acquisition-related payments included in the Cash provided by Operating Activities and in the Cash provided by Financing Activities, as a consequence of certain acquisition payments being made subject to continued employment.

In an effort to also provide a more traditional picture of our Cash Flow build-up, we provide a calculation of Adjusted Free Cash Flow as well as an Alternative Cash Flow Statement that ties abovementioned Adjusted Free Cash Flow to the final movement on the balance sheet.

The Group recorded Adjusted Free Cash Flow of $36.9 million for the year ended December 31, 2025 as compared to $22.2 million in 2024. In general, the generation of Adjusted Free Cash Flow tends to be weighted towards the second half of the year, as a consequence of the payment of annual bonuses in the first half year.

Conversion Cash flow from Operations to Adjusted Free Cash Flow

 (Amount in millions, except percentages) Years Ended December 31,      2025  2024  $ Change % ChangeNet cash provided by Operating Activities - as reported$24.8 $16.4  $8.4  51.0%Prepaid post-combination expense 10.5  4.6   5.8  125.4%Change in other liability 1.7  1.0   0.7  74.6%Change in contingent consideration —  0.3   (0.3) (98.5)%Acquisition Payments included in Cash flow from Operations 12.2  5.9   6.3  106.7%Capex —  (0.1)  —  (80.3)%Adjusted Free Cash Flow$36.9 $22.2  $14.7  66.1%
As is typical for the Group, the primary uses of cash are acquisition payments and dividends.

Cash outflows related to acquisitions increased from $26.4 million in 2024 to $33.8 million in 2025, with the 2025 outflow resulting from the completion payments for TrailRunner International and Pine Cove Strategies in combination with an earnout payment for KP Public Affairs. The 2024 outlay was driven by the acquisition payments for Lucas Public Affairs and Pagefield, in addition to an earnout payment for MultiState.

Dividend payments reduced from $16.8 million in 2024 to $8.7 million in 2025. The reduction in dividend reflects the new dividend policy which was announced in January 2025.

Summary of Cash Uses and Sources

 (Amount in millions, except percentages) Years Ended December 31,  2025   2024  $ Change % ChangeAdjusted Free Cash Flow$36.9  $22.2  $14.7  66.1%        Cash paid for acquisitions, net of cash acquired (21.1)  (19.8)  (1.3) 6.5%Acquisition Payments included in Cash flow from Operations (12.2)  (5.9)  (6.3) 106.7%Acquisition Payments included in Cash flow from Financing (0.6)  (0.8)  0.2  (22.4)%Cash flow related to acquisitions (33.8)  (26.4)  (7.4) 28.0%        Proceeds from notes payable 24.0   25.0   (1.0) (4.0)%Payment of debt issuance costs (0.1)  (0.2)  0.1  (40.5)%Loan issued to related parties (0.5)  —   (0.5) — Proceeds received for notes receivable - related parties —   0.4   (0.4) (100.0)%Principal payment of note payable (9.2)  (3.9)  (5.3) 137.3%Cash Flow related to debt financing 14.2   21.3   (7.1) (33.2)%        Dividends paid (8.7)  (16.8)  8.2  (48.6)%Payment of deferred equity offering costs (2.9)  —   (2.9) — Cash Flow related to equity financing (11.6)  (16.8)  5.3  (31.2)%        Effect of foreign exchange rate changes on cash and cash equivalents 0.2   (0.1)  0.2  (388.9)%        Net Cash Movement$5.9  $0.2  $5.7  2,925.6% Net debt position

PPHC's debt position at December 31, 2025 of $47.0 million offset by cash of $20.4 million, resulted in a Net Debt position of $26.6 million as compared to a Net Debt position of $17.5 million at December 31, 2024. The increase in Net Debt related to the acquisition of TrailRunner in the second quarter of 2025.

 (Amounts in millions, except percentages) December 31,  2025   2024  % Change $ ChangeCash and cash equivalents as of end of period$20.4  $14.5  40.6% $5.9         Notes payable, long-term, net (37.9)  (26.0) 45.7%  (11.9)Notes payable, current portion, net (9.1)  (6.0) 50.6%  (3.1)Total Debt$(47.0) $(32.0) 46.6% $(14.9)        Net debt at period-end$(26.6) $(17.5) 51.6% $(9.0) Earnout obligations

As part of the typical structure applied for the acquisitions that were completed post-UK IPO, the Group also committed to making certain contingent earnout payments. These earnout payments are based on a profit-driven formula and only materialize if the acquired company realizes profit growth after the date of completion. Payments are typically made in a mix of cash and shares. In turn, each of these components of earnout payments may be subject to further vesting requirements and employment conditions, which keeps the recipients financially committed to the Group.

In relation to these earnout payments, the Group has liabilities recorded of $25.0 million on its balance sheet, spread across the ‘Contingent Consideration’ and ‘Other Liabilities’ line items. This number is a reflection not only of the estimated foreseen nominal payments, but also of discount factors and fair value estimates.
The liabilities accrued under 'Contingent Consideration' relate to regular M&A payments, whilst the liabilities accrued under "Other Liabilities" relate to those M&A payments that have 'continued employment' requirements and are therefore subject to 'clawback' provisions.

In nominal terms, over the period 2025-2030, based on expected performance of each of the acquired companies, management anticipates having to make earnout payments of $78.3 million, of which $44.6 million payable in cash and the remainder in shares.

The maximum earnout liability over that same period, which would only be reached if each acquisition meets very aggressive profit growth targets, would be $141.9 million, of which $83.7 million payable in cash and the remainder in shares. Generally, in order for an acquisition to reach maximum earnout payments, it would need to grow its profit by 25-30% annually over the entire earnout period.

Expected Earnout Liabilities – in Nominal Terms

 ($ in millions)  2026  2027  2028  2029  2030 TotalExpected earnout payments in Cash$12.0 $4.6 $22.8 $1.3 $3.9 $44.6Expected earnout payments in PPHC stock 4.6  1.7  22.8  0.8  3.9  33.7Expected earnout payments - total$16.6 $6.3 $45.5 $2.1 $7.9 $78.3            Maximum earnout payments in Cash$17.5 $15.4 $22.8 $18.0 $10.0 $83.7Maximum earnout payments in PPHC stock 7.5  6.9  22.8  11.0  10.0  58.2Maximum earnout payments - total$25.0 $22.4 $45.5 $29.0 $20.0 $141.9 Dividend

The Company's board of directors have declared a total dividend for 2025 of $0.355 per Common Stock, which equates to an aggregate amount, based on the anticipated number of outstanding Common Stock, of approximately $9.7 million. Because $0.115 per Common Stock was paid as interim dividend in October 2025, a final dividend of $0.240 per Common Stock remains payable to the holders of record of all the issued and outstanding shares of the Company’s Common Stock as of the close of business on the record date, April 24, 2026.

The ex-dividend date for shares of the Company’s Common Stock traded on AIM is April 23, 2026, and for shares of the Company’s Common Stock traded on Nasdaq, the ex-dividend date is April 22, 2026. The final dividend will be paid no later than May 22, 2026.

This proposed final dividend reflects the intended dividend reduction announced in January 2025, aimed at retaining more of the Group’s strong cash flow, and enabling the Group to continue pursuing accretive M&A and drive long-term growth.

Information per Share

 Share count in thousands Years ended December 31,      2025   2024  Share count
/ $ Change % Change# of shares period end - GAAP - basic and fully diluted 20,822   16,884   3,938  23.3%# of shares period end - Legally outstanding - basic 25,174   24,018   1,157  4.8%# of shares period end - Legally outstanding - fully diluted 26,868   25,564   1,305  5.1%# weighted avg shares - GAAP - basic and fully diluted 17,467   13,409   4,058  30.3%# weighted avg shares - Legally outstanding - basic 24,775   23,641   1,134  4.8%# weighted avg shares - Legally outstanding - fully diluted 26,439   24,954   1,485  5.9%EPS - GAAP reported (basic and fully diluted)$(2.37) $(2.34) $(0.03) 1.4%Adjusted EPS - basic$1.48  $1.17  $0.31  26.4%Adjusted EPS - fully diluted$1.39  $1.11  $0.27  24.7%Dividend paid - per share$0.344  $0.702  $(0.358) (51.0)%Adjusted Free Cash Flow per share$1.49  $0.94  $0.55  58.5%
For the purpose of giving investors a useful view on Earnings Per Share ("EPS"), the Group computed EPS not only on a GAAP Reported Profit basis, but also on an Adjusted Net Income basis. For the latter calculation the Group includes in the denominator the legally outstanding number of shares. This definition not only includes the common shares outstanding, but also (i) unvested portion of the pre-UK IPO Retained Shares, (ii) unvested shares that have been issued in relation to post-IPO acquisitions, and (iii) unvested Restricted Stock Awards. While those shares are still subject to vesting rules, and therefore not part of the Common Outstanding share count per GAAP definition, they entitle the recipients to dividends and voting rights.

Note that the growth in weighted of average number of shares for the year ended December 31, 2025 (4.8% basic, 5.9% fully diluted) was driven by annual LTIP issuance as well as M&A related issuances.

(Subsequent to period close, due to the Company's U.S. public offering in January 2026, the number of outstanding shares has increased by 3,400,000 shares.)

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995

Forward-Looking Statements

This earnings release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward looking statements involve risks and uncertainties. Forward-looking statements are often identified by words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would,” and similar expressions, or the negative of these terms or other comparable terminology. These statements include, but are not limited to, statements regarding the Company’s future financial performance, business strategy, market opportunities, anticipated financial position, liquidity and capital needs, and other statements that are not historical facts. These statements are based on various assumptions, whether or not identified in this earnings release, and on the current expectations and assumptions of the Company’s management, which are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict, including as detailed in our filings with the Securities and Exchange Commission (the "SEC"). Moreover, we operate in a very competitive and rapidly changing environment and new risks emerge from time to time. It is not possible for our management to predict all risks, many of which are outside the control of the Company, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those discussed in the forward-looking statements. In light of these risks, uncertainties and assumptions, the future events and trends discussed in this earnings release may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements and we cannot guarantee any future performance, conditions or results. We undertake 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 law. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Copies or our filings with the SEC can be found on our investor relations website (

investors.pphcompany.com) or on the SEC website (

www.sec.gov).

Industry Information

Market data and estimates used throughout this earnings release are based on information from independent third parties and other publicly available information in addition to management’s internal estimates. Such data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. No representations or warranties are made by the Company or any of its affiliates as to the accuracy of any such information. Projections, assumptions and estimates of the future performance of the industry in which the Company operates are necessarily subject to a high degree of uncertainty and risk due to a variety of factors. These and other factors could cause results to differ materially from those expressed in management’s estimates and beliefs and in the estimates prepared by independent parties.

Basis of preparation

The financial statements have been prepared in accordance with Generally Accepted Accounting Principles in the United States ("U.S. GAAP" or "GAAP").

When the Company purchases services or goods on behalf of its clients (for example in the case of media purchases), the Group does not recognize the purchased goods as net revenue, but only the net fees earned on the purchases. Therefore, purchases on behalf of clients do not materially impact the top-line or the margins.

Management believes that Adjusted EBITDA and Adjusted Net Income are more useful performance indicators than the reported Net Income. The following elements distinguish our Adjusted Net Income from our Reported Net Income:

(1)Share-based accounting charge: As mentioned in all prior filings and annual reports, shares issued to employee shareholders at the time of the London 2021 IPO are subject to a vesting schedule. In addition, their employment agreements contain certain provisions which enable cash derived from the sale of shares at the time of the London 2021 IPO to be clawed back and forfeited on certain events of termination of employment. These items create a non-cash share-based accounting charge in accordance with guidance under U.S. GAAP, Accounting Standards Codification, 718- 10-S99-2, "Compensation-Stock Compensation". Based on the value of the Company at the time of admission ($197 million) and the pre-admission employee shares sold in 2021, for the three and twelve months ending December 31, 2025, the non-cash charge are $7.4 million and $29.6 million (2024: $8.0 million and $31.8 million). This non-cash share-based charge has no impact on tax, nor share count or Company operations.(2)Post-combination compensation charge: In the acquisitions that have been completed since the IPO in 2021, the Group makes payments in cash and shares. In order to protect the interests of the Group, the shares issued as part of these transactions were made subject to vesting schedules. To a similar degree, also the cash paid as part of these transactions can be clawed back and forfeited on certain events of termination of employment. The addition of these provisions to purchase price paid creates a post-combination compensation charge in accordance with accounting guidance under U.S. GAAP, Accounting Standards Codification, ASC 805-10-55-25, "Business Combinations - Contingent Payments". For the three and twelve months ending December 31, 2025 the non-cash charges were $8.5 million and $21.3 million (2024: $2.9 million and $11.6 million). Again, this is a non-cash charge and has no impact on either tax or Company operations.(3)LTIP charges. In 2022 the Group issued the first stock-based compensation units under the Omnibus Plan. This plan was introduced at the time of the London 2021 IPO and allows the Group to issue up to a certain number of stock-related units (e.g. options, restricted stock). In the year ended December 31, 2025, PPHC issued 62,588 ( 2024: 85,000) stock options at a premium exercise price (market price at time of grant plus 20%), exercisable at the 3rd anniversary of the grant. Also, the Group issued 498,532 restricted stock units (2024: 586,000), and 195,593 restricted stock awards (2024: 140,748). Similar to 2024, no restricted stock appreciation awards were awarded in 2025 as these instruments are getting phased out. The charges relating to these issuances were $7.1 million in the year ended December 31, 2025 (2024: $4.2 million), and those were computed using the Black Scholes method.(4)Amortization of intangibles: The non-cash amortization charge of $1.5 million and $6.0 million for the three and twelve months ending December 31, 2025 (2024: $1.3 million and $4.7 million) relates to the amortization of customer relationships, developed technology, and noncompete agreements per ASC 805.(5)Bargain purchase: As laid out in point 2, because a significant part of the purchase price of our acquisitions is tied to continued employment, this part has been accounted for as post-combination compensation in the Group’s Consolidated Statements of Operations. As a consequence, for certain acquisitions, the remaining book purchase price is lower than the tax purchase price. The reason for the bargain purchase gain is tied directly to the tax purchase price significantly exceeding the book purchase price and is not a reflection of a true bargain purchase of the actual intangible and tangible assets of these acquisitions. The income recorded relating to the bargain purchase was $2.0 million in the three and twelve months ending December 31, 2025 (2024: zero and $2.5 million).(6)Change in Contingent Consideration: The contingent consideration liability recorded as part of the acquisitions is adjusted at each reporting period for the change in the estimated fair value of that liability. The fair value changes over time based on management assumptions, the passage of time, payments made, and other external inputs, such as discount rates and volatility. The change in the estimated fair value of the contingent consideration is recorded as a non-operating expense of $0.2 million and $5.1 million in the three and twelve months ending December 31, 2025 (2024: $0.1 million and $1.9 million).(7)Loss from Impairment: Based on the results of the Company’s qualitative assessment performed for our indefinite-lived assets, as of October 1, 2025, we determined that the effects of the decline in operations was a result of certain client relationships and employee turnover at Pagefield constituted a triggering event for both the Pagefield Government Relations Consulting reporting unit and the Pagefield Corporate Communications & Public Affairs reporting unit. We conducted our annual test of the fair value of the Pagefield acquisition's goodwill. We applied the discounted cash flow method and the guideline public company method to determine the fair value of both reporting units. The results of this approach indicated that the Pagefield Government Relations Consulting reporting unit's carrying value exceeded its fair value by 55.9% and the Pagefield Corporate Communications & Public Affairs reporting unit's carrying value exceeded its fair value by 21.1%. We therefore concluded that a portion of the goodwill was impaired as of December 31, 2025 and recorded non-cash impairment charges of $4.8 million to the Pagefield Government Relations Consulting reporting unit and $1.5 million to the Pagefield Corporate Communications & Public Affairs reporting unit. No goodwill of indefinite-lived intangible asset was impairment for the year ended December 31, 2024. Additionally, based on the results of the Company's qualitative assessment performed on our definite-lived assets which consist of customer relationships, developed technology and non-compete agreements that have been acquired through various acquisitions, we concluded that a portion of the trade names and customer relationships was impaired as of December 31, 2025 and recorded a non-cash impairment charges of $0.3 million and $2.6 million, respectively. The Company has not recorded any impairment charges related to long-lived assets for the year ended December 31, 2024.(8)M&A expenses: since Q2 2025 reporting, the Group has been excluding M&A expenses from the Adjusted EBITDA. M&A expenses have a one-off character because expenses are incurred around the time the Group executes an acquisition. Expenses typically exists of M&A advisory fees, debt origination costs, and transaction related taxes. The M&A expenses in the three and twelve months ending December 31, 2025 amounted to $0.4 million and $0.8 million, a significant decline from $0.8 million and $2.4 million in 2024. The high costs in 2024 directly related to the acquisition of Pagefield, which was the Group's first acquisition outside the U.S. For the calculation of EPS based on GAAP Profit, as a denominator, the Group uses the weighted average number of Common Stock outstanding during the period. For the calculation of EPS based on Adjusted Profit, as a denominator, the Group uses the weighted average number of Legally Issued shares during the period. This comprises all the Common Stock outstanding, as well as those shares that were yet unvested but entitled the owner to dividends and voting rights.

Definitions and Uses of Non-GAAP Financial Measures

Our management uses a variety of financial and operating metrics to analyze our performance. These metrics are significant factors in assessing our operating results and profitability. These financial and operating metrics include Adjusted EBITDA, Adjusted EBITDA margin, Adjusted EBITDA Incl. M&A expense, Adjusted net income, Adjusted EPS, fully diluted, Organic Revenue Growth, Adjusted Free Cash Flow, which are financial measures not recognized under US GAAP.

These non-GAAP financial measures are used by management to measure our operating performance, but may not be directly comparable to similar measures, such as EBITDA or Adjusted EBITDA, relied on or reported by other companies, including other companies in our industry. We believe excluding items that neither relate to the ordinary course of business nor reflect our underlying business operating performance, such as equity-based compensation, the amortization of acquired intangible assets, acquisition-related post-combination compensation and contingent consideration, gains on bargain purchase price, interest and tax enables meaningful period-to-period comparisons of our operating performance. We also use these non-GAAP financial measures when publicly providing our business outlook, for internal management purposes, and as a basis for evaluating potential acquisitions and dispositions.

We believe that the exclusion of equity-based compensation expense such as stock options, restricted stock awards, restricted stock units and equity-based compensation related to retained pre-UK IPO shares granted in relation to our listing on the London Stock Exchange, is appropriate because it eliminates the impact of non-cash expenses for equity-based compensation costs that are based upon valuation methodologies and assumptions that can vary significantly over time due to factors that are (i) unrelated to our core operating performance, and (ii) can be outside of our control. Although we exclude equity-based compensation expenses from our non-GAAP measures, equity compensation has been, and will continue to be, an important part of our future compensation strategy and a significant component of our future expenses that may increase in future periods. Additionally, we believe the exclusion of compensation expense related to share appreciation rights, which are cash settled, is unrelated to our core operating performance in addition to the fact that share appreciation rights are no longer part of our compensation plans going forward.

We define Adjusted EBITDA, which is a non-GAAP financial measure, as consolidated net loss before depreciation, interest income, interest expense, income tax expense, mergers and acquisitions (“M&A”) expenses, long-term incentive program charges, share-based accounting charges, post-combination compensation charges, impairment, change in fair value of contingent consideration, gain on bargain purchase price net of deferred taxes and amortization of intangible assets. Adjusted EBITDA Incl. M&A expense we define as net loss before depreciation, interest income, interest expense, income tax expense, long-term incentive program charges, share-based accounting charges, post-combination compensation charges, change in fair value of contingent consideration, gain on bargain purchase price net of deferred taxes and amortization of intangible assets. We define Adjusted EBITDA Margin as Adjusted EBITDA divided by revenue. We believe that these non-GAAP financial measures, when considered together with our GAAP financial results and GAAP financial measures, provide management and investors with a more complete understanding of our operating results, including underlying trends. While our Adjusted EBITDA may not be directly comparable to the EBITDA or other measures used by others, we believe it helps provide a clearer picture of the underlying performance of the business by removing certain expenses tied to specific historical acquisitions, including post-combination compensation charges, as well as non-cash charges such as depreciation and amortization of intangibles. Additionally, we believe that Adjusted EBITDA provides investors and management with operating results that reflect our core operating activity of serving clients by removing the highly variable M&A costs expenditure.

We define Adjusted Net Income, which is a non-GAAP financial measure, as consolidated net loss before long-term incentive program charges, share-based accounting charges, post-combination compensation charges, change in fair value of contingent consideration, impairment, gain on bargain purchase price net of deferred taxes and amortization of intangible assets. We use Adjusted Net Income for the purpose of calculating Adjusted Earnings per Share ("Adjusted EPS", being referenced as either "Adjusted EPS, basic" or "Adjusted EPS, fully diluted"). Management uses Adjusted EPS diluted to assess total group operating performance on a consistent basis. We define Adjusted Net Income as net income excluding the impact of long-term incentive program charges, share-based accounting charges, post-combination compensation charges, change in fair value of contingent consideration, gain on bargain purchase price net of deferred taxes and amortization of intangible assets. We believe that these non-GAAP financial measures, when considered together with our GAAP financial results and GAAP financial measures, provide management and investors with a clearer picture of our underlying business operating results.

We define Adjusted Free Cash Flow, which is a non-GAAP financial measure, as net cash provided by operating activities less cash payments for purchases of property and equipment and less acquisition related payouts classified in operating cash flows specifically changes in prepaid post combination payments, changes in other liability (liability classified earnout obligations) and changes in contingent consideration. We believe this non-GAAP financial measure, when considered together with our GAAP financial results, provides management and investors with useful supplemental information on our ability to generate cash for ongoing business operations and capital deployment.

We define Net Cash (Debt) as total unrestricted cash and cash equivalents less the total principal amount of debt outstanding. The total principal amount of debt outstanding is comprised of the long-term debt and current maturities of long-term debt as presented in our consolidated balance sheets adding back any debt issuance costs. We believe that the presentation of Net Cash (Debt) provides useful information to investors because our management reviews Net Cash (Debt) as part of our oversight of overall liquidity, financial flexibility and leverage.

We define Organic Revenue Growth as the year-over-year revenue growth excluding revenues from acquired businesses for the first twelve months following the date of acquisition. For purposes of this calculation, the revenue of an acquired business is classified as acquired revenue and excluded from Organic Revenue Growth until the thirteenth month following the acquisition date. Beginning in the thirteenth month, the revenue from that acquisition is included in the Organic Revenue Growth comparison against the corresponding prior-year period. This approach ensures comparability by aligning revenue bases year-over-year and isolating the performance of our ongoing operations. We believe that Organic Revenue Growth is a useful supplemental metric for investors and management, as it provides a clearer view of underlying revenue trends excluding the impact of acquisition-related growth.

Certain monetary amounts, percentages and other figures included elsewhere in this earnings release have been subject to rounding adjustments. Accordingly, figures shown as totals in certain tables or charts may not be the arithmetic aggregation of the figures that precede them, and figures expressed as percentages in the text may not total 100% or, as applicable, when aggregated may not be the arithmetic aggregation of the percentages that precede them.

 Condensed Consolidated Balance Sheets
(Amounts in thousands, except share and per share data)
  December 31, 2025
(Unaudited) December 31, 2024    ASSETS:   Current assets:   Cash and cash equivalents$20,436  $14,536 Contract receivables, net 21,851   18,285 Notes receivable - related parties, current portion 750   863 Income taxes receivable 2,068   3,185 Prepaid post-combination compensation, current portion 3,585   6,070 Prepaid expenses and other current assets 9,598   2,726 Amounts due from related parties 266   — Total current assets 58,554   45,665 Property and equipment at cost, less accumulated depreciation 598   751 Notes receivable - related parties, long term 900   1,050 Operating lease right of use asset 18,829   18,428 Goodwill 56,990   64,308 Other intangible assets, net of accumulated amortization 37,113   32,144 Deferred income tax asset 24,600   11,038 Prepaid post-combination compensation, long term 4,692   888 Other long-term assets 276   189 TOTAL ASSETS$202,552  $174,461 LIABILITIES AND EQUITY:   Current liabilities:   Accounts payable and accrued expenses 30,819   20,044 Amounts owed to related parties —   556 Deferred revenue 3,310   3,150 Operating lease liability, current portion 5,070   4,827 Contingent consideration, current portion 3,134   2,093 Other liability, current portion 1,441   1,135 Notes payable, current portion, net 9,082   6,031 Total current liabilities 52,856   37,836 Notes payable, long term, net 37,906   26,014 Contingent consideration, long term 9,864   8,803 Other liability, long term 10,553   3,745 Operating lease liability, long term 16,469   16,808 Total liabilities$127,648  $93,206 Stockholders' equity:   Common stock, $0.001 par value, 1,000,000,000 shares authorized, 25,174,492 and 24,017,599 shares issued and outstanding as of December 31, 2025, and 2024, respectively 24   23 Additional paid-in capital 237,075   197,489 Accumulated deficit (163,381)  (115,721)Accumulated other comprehensive income (loss) 1,186   (536)Total stockholders’ equity 74,904   81,255 TOTAL LIABILITIES AND EQUITY$202,552  $174,461     Condensed Consolidated Statements of Operations
(Amounts in thousands, except share and per share data)
     Years Ended December 31,   2025
(Unaudited)
   2024 Revenue $186,541  $149,563 Operating expenses:    Salaries and other personnel costs  160,800   126,640 Office and other direct costs  7,094   5,651 Cost of services  167,894   132,291 Salaries, general and administrative  31,791   26,837 Mergers and acquisitions expense  837   2,434 Depreciation and amortization expense  5,676   4,244 Loss on impairment of intangible assets  2,890   - Loss on impairment of goodwill  6,219   - Change in fair value of contingent consideration  5,147   1,910 Total operating expenses  220,454   167,716 Loss from operations  (33,913)  (18,153)Gain on bargain purchase  2,043   2,464 Interest income  81   177 Interest expense  (3,402)  (1,900)Other income, net  589   - Net loss before income taxes  (34,602)  (17,412)Income tax expense  (4,399)  (6,545)Net loss $(39,001) $(23,957)     Net loss per share attributable to common stockholders, basic and diluted (2024 restated) $(2.37) $(2.34)Basic and diluted  17,466,665   13,409,160      Net loss $(39,001) $(23,957)Foreign currency translation gain (loss)  1,722   (536)Total comprehensive loss $(37,279) $(24,493)           Condensed Consolidated Statements of Stockholders' Equity
(Amounts in thousands, except share and per share data)
(Unaudited)
           Common Stock Additional Paid-In Capital
 Accumulated Deficit
 Accumulated Other Comprehensive Income (Loss)
 Total Stockholders’ Equity
 Shares
(Restated) Amount    Balance at December 31, 202424,017,599  $23 $197,489  $(115,721) $(536) $81,255 Long term incentive program charges—   —  5,790   —   —   5,790,000 Issuance of unvested legally outstanding shares719,618   —  —   —   —   — Related to acquisitions           Issuance of common stock177,744   —  1,284   —   —   1,284 Issuance of common stock for settlement of other liability—   —  342   —   —   342,000 Vesting of stock issued from acquisitions—   —  1   (1)  —   — Vesting of restricted stock awards—   —  1   (1)  —   — Vesting of restricted stock units329,141   1  —   (1)  —   — Repayment of note receivable by Alpine Group(63,356)  —  (532)  —   —   (532)Post-combination compensation charge-shares—   —  3,074   —   —   3,074 Dividends—   —  —   (8,656)  —   (8,656)Forfeiture of unvested restricted stock(6,254)  —  —   —   —   — Share-based accounting charge—   —  29,626   —   —   29,626 Foreign currency translation gain—   —  —   —   1,722   1,722 Net loss—   —  —   (39,001)  —   (39,001)Balance at December 31, 202525,174,492  $24 $237,075  $(163,381) $1,186  $74,904            Condensed Consolidated Statements of Stockholders' Equity
(Amounts in thousands, except share and per share data)
           Common Stock Additional Paid-In Capital
 Accumulated Deficit
 Accumulated Other Comprehensive (Loss)
 Total Stockholders’ Equity
 Shares
(Restated) Amount    Balance at December 31, 202323,054,393 $22 $156,972 $(74,925)  $—   82,069 Issuance of unvested legally outstanding shares537,054  —  —  —   —   — Long term incentive program charges—  —  3,784  —   —   3,784 Dividends—  —  —  (16,836)  —   (16,836)Vesting of stock issued from acquisitions—  —  1  (1)  —   — Vesting of restricted stock awards—  1  —  (1)  —   — Vesting of restricted stock units158,337  —  1  (1)  —   — Common stock issued to Multistate as settlement of contingent consideration88,287  —  691  —   —   691 Issuance of common stock for acquisition179,528  —  1,443  —   —   1,443 Post-combination compensation charge-shares—  —  2,793  —   —   2,793 Share-Based Accounting Charge Retained Pre-IPO Shares—  —  31,804  —   —   31,804 Foreign currency translation (loss)—  —  —  —   (536)  (536)Net loss—  —  —  (23,957)  —   (23,957)Balance at December 31, 202424,017,599 $23 $197,489 $(115,721) $(536) $81,255    Consolidated Statements of Cash Flows
(Amounts in thousands, except share and per share data)
   Years Ended December 31,  2025
(Unaudited)
   2024 Cash Flows from Operating Activities:   Net loss$(39,001) $(23,957)Adjustments to reconcile net loss to net cash provided by operating activities:   Depreciation 192   136 Amortization expense - intangibles 6,046   4,671 Amortization of right of use assets 5,466   4,071 Amortization of prepaid post-combination compensation 8,987   5,062 Accretion of other liability 8,490   3,742 Amortization of debt discount 236   182 Provision for deferred income taxes (2,712)  (1,294)Share-based accounting charge 29,626   31,804 Stock-based compensation 7,086   4,162 Post-combination compensation charge-shares 3,074   2,793 Change in fair value of contingent consideration 5,147   1,910 Gain on bargain purchase (2,043)  (2,464)Credit losses on accounts receivable 2,353   — Impairment of goodwill and other intangible assets 9,109   — Employee loan forgiveness 250   — (Increase) decrease in:   Accounts receivable (5,060)  (3,118)Prepaid post-combination expense (10,456)  (4,640)Prepaid expenses and other assets (1,142)  573 Increase (decrease) in:   Accounts payable and accrued expenses 6,325   (2,053)Income taxes payable and receivable 1,149   (2,219)Deferred revenue 149   959 Contingent consideration (4)  (269)Operating lease liability (5,961)  (4,277)Other liabilities (1,714)  (982)Transactions with members and related parties (822)  1,611 Net Cash Provided by Operating Activities 24,770   16,403 Cash Flows from Investing Activities:   Purchases of property and equipment (11)  (56)Proceeds issued for notes receivable - related parties (500)  — Proceeds received for notes receivable - related parties —   350 Cash paid for acquisitions, net of cash acquired (21,065)  (19,784)Net Cash Used in Investing Activities (21,576)  (19,490)Cash Flows from Financing Activities:   Proceeds from notes payable 24,000   25,000 Payment of debt issuance costs (128)  (215)Payment of deferred equity offering costs (2,919)  — Principal payment of note payable (9,165)  (3,863)Payment of contingent considerations (582)  (750)Dividends paid (8,656)  (16,836)Net Cash Provided by Financing Activities 2,550   3,336 Effect of foreign exchange rate changes on cash and cash equivalents 156   (54)Net Change in Cash and Cash Equivalents 5,900   195 Cash and Cash Equivalents as of Beginning of Period 14,536   14,341 Cash and Cash Equivalents at the End of Period$20,436  $14,536   Years Ended December 31,   2025
(Unaudited)
   2024 Supplemental disclosure of cash flow information:     Cash paid for interest$3,165  $1,718 Cash paid for income taxes$5,939  $10,049 Common stock received for repayment of note receivable with Alpine Group$532   $— Right of use assets obtained with lease liabilities$5,866  $1,065 Contingent consideration issued for acquisitions $—  $3,798 Common stock issued for acquisitions$1,285  $1,443 Stock issued for settlement of other liability$342   $— Accrued deferred equity offering costs$2,598   $— Stock issued for settlement of contingent consideration $—  $691  Contact Information

Public Policy Holding Company, Inc.
800 North Capitol St. NW
Washington, DC 20002
+1 (202) 688 0020

For Investors
Matthew Mazzanti, Investor Relations
[email protected]

For Media & Other
[email protected]

LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation of Arq, Inc. (“Arq” or the “Company”) (NASDAQ: ARQ) on behalf of investors concerning the Company's possible violations of federal securities laws. IF YOU ARE AN INVESTOR WHO LOST MONEY ON ARQ, INC. (ARQ), CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING A CLAIM TO RECOVER YOUR LOSS. What Is The Investigation About? On November 5, 2025, Arq released its third quarter 2025 financial results. Among other ite.

HOUSTON--(BUSINESS WIRE)--HMH Holding Inc. (“HMH”) today announced that it has launched the initial public offering of 10,520,000 shares of its Class A common stock. The underwriters will have a 30-day option to purchase up to an additional 1,578,000 shares of Class A common stock from HMH at the initial public offering price, less underwriting discounts and commissions. The initial public offering price is expected to be between $19.00 and $22.00 per share. HMH has applied to list the shares o.

Precise Biometrics AB (publ) (PRBCF) M&A Call March 23, 2026 5:00 AM EDT

Company Participants

Joakim Nydemark - Chief Executive Officer
Adam Philpott - CEO, President & Director
Stefan Pettersson - Head of Investor Relations

Presentation

Joakim Nydemark
Chief Executive Officer

Good morning, everyone, and thank you for joining today's investor call. Earlier today, we announced the proposed merger between Precise Biometrics and Fingerprint Cards. And Adam and I really appreciate the opportunity to walk you through the strategic rationale behind the proposed merger. Before we begin to practical matters, participants will be in listen only mode during the presentation, and you're welcome to submit questions via the webcast chat. We will then address in the Q&A session at the end of the call.

Before we jump into the presentation, let me briefly introduce ourselves and the companies. I'm, Joakim Nydemark, and I've been the CEO of Precise Biometrics since 2023. Precise is a global provider of biometric and authentication software as well as solutions for visitor and access management. Our software is used in a variety of products, business segments, including mobile devices, access and visitor management systems and government identity programs. Please, Adam.

Adam Philpott
CEO, President & Director

Thanks, Joakim. Just like Joakim, I joined FPC in 2023 as well to drive significant transformation and with the objective of building a scalable identity company. FPC are a trusted Swedish biometric technology leader. What Joakim and I will do today is we're going to walk you through the strategic rationale for combining our companies. We're going to talk about the opportunities created by this merger. We're going to talk about the expected financial and operational benefits. And then finally, we'll talk about the transactional structure and time line. So back to you, Joakim.

Joakim Nydemark
Chief Executive Officer

Thank you

NEW YORK--(BUSINESS WIRE)--The Estée Lauder Companies Inc. (NYSE: EL) confirms that it is in discussions regarding a potential business combination with Puig, in which the two companies would potentially merge their businesses. No final decision has been made, and no agreement has been reached. Unless and until an agreement is signed between the companies, there can be no assurances regarding the deal or its terms. Forward-Looking Statement This press release contains forward-looking statements.

MIAMI--(BUSINESS WIRE)--Millrose Properties, Inc. (NYSE: MRP, “Millrose”), the homesite option platform for residential homebuilders, today announced that its Board of Directors has declared a quarterly cash dividend of approximately $126.2 million, or $0.76, per share of Class A and Class B common stock. The dividend will be paid on April 15, 2026, to shareholders of record as of April 3, 2026. “Our ability to consistently return capital to shareholders – even in volatile markets – underscores.

, /PRNewswire/ -- MPLX LP (NYSE: MPLX) will host a conference call on Tuesday, May 5, 2026, at 9:30 a.m. EDT to discuss 2026 first-quarter financial results.

Interested parties may listen to the conference call by visiting MPLX's website at www.mplx.com. A replay of the webcast will be available on MPLX's website for two weeks. Financial information, including the earnings release and other investor-related material, will also be available online prior to the conference call and webcast at www.mplx.com.

About MPLX LP

MPLX is a diversified, large-cap master limited partnership that owns and operates midstream energy infrastructure and logistics assets and provides fuels distribution services. MPLX's assets include a network of crude oil and refined product pipelines; an inland marine business; light-product terminals; storage caverns; refinery tanks, docks, loading racks, and associated piping; and crude and light-product marine terminals. The company also owns crude oil and natural gas gathering systems and pipelines as well as natural gas and NGL processing and fractionation facilities in key U.S. supply basins. More information is available at www.MPLX.com.

Investor Relations Contacts: (419) 421-2071
Kristina Kazarian, Vice President Finance and Investor Relations
Brian Worthington, Senior Director, Investor Relations
Isaac Feeney, Director, Investor Relations
Evan Heminger, Analyst, Investor Relations

Media Contact: (419) 421-3577
Jamal Kheiry, Communications Manager

SOURCE MPLX LP

March 23, 2026 16:15 ET  | Source: South Plains Financial, Inc.

LUBBOCK, Texas, March 23, 2026 (GLOBE NEWSWIRE) -- South Plains Financial, Inc. (NASDAQ:SPFI) (“South Plains” or the “Company”), the parent company of City Bank (“City Bank” or the “Bank”), and BOH Holdings, Inc. (“BOH”), the parent company of Bank of Houston, today jointly announced that, on March 20, 2026, the shareholders of BOH approved the previously announced proposed merger of BOH with and into South Plains, with South Plains continuing as the surviving corporation, followed by the proposed merger of Bank of Houston with and into City Bank, with City Bank continuing as the surviving bank.

The Company has also received the required regulatory approvals and non-objections from the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation and the Texas Department of Banking regarding the proposed merger.

All required regulatory and shareholder approvals to complete the proposed merger have now been received and the proposed merger is expected to be completed on April 1, 2026, subject to the satisfaction or waiver of the remaining customary closing conditions.

About South Plains Financial, Inc.

South Plains is the bank holding company for City Bank, a Texas state-chartered bank headquartered in Lubbock, Texas. City Bank is one of the largest independent banks in West Texas and has additional banking operations in the Dallas, El Paso, Greater Houston, the Permian Basin, and College Station, Texas markets, and the Ruidoso, New Mexico market. South Plains provides a wide range of commercial and consumer financial services to small and medium-sized businesses and individuals in its market areas. Its principal business activities include commercial and retail banking, along with investment, trust and mortgage services. Please visit https://www.spfi.bank for more information.

About BOH Holdings, Inc.

BOH Holdings, Inc. is the bank holding company for Bank of Houston, a Texas state-chartered bank headquartered in Houston, Texas. Bank of Houston is a community-oriented, full service financial institution that provides a broad array of banking services to small and middle market companies, business owners, executives, entrepreneurs and families. Bank of Houston is a locally-owned, independent financial institution and is engaged in substantially all of the business operations (except for trust services) customarily conducted by independent financial institutions in Texas. Lending activities consist principally of residential real estate, commercial real estate, personal loans, and mortgage loans.

Available Information

The Company routinely posts important information for investors on its web site (under www.spfi.bank and, more specifically, under the News & Events tab at www.spfi.bank/news-events/press-releases). The Company intends to use its web site as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD (Fair Disclosure) promulgated by the U.S. Securities and Exchange Commission (the “SEC”). Accordingly, investors should monitor the Company’s web site, in addition to following the Company’s press releases, SEC filings, public conference calls, presentations and webcasts.

The information contained on, or that may be accessed through, the Company’s web site is not incorporated by reference into, and is not a part of, this document.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect South Plains’ current views with respect to future events and South Plains’ performance. Any statements about South Plains’ expectations, beliefs, plans, predictions, forecasts, objectives, assumptions or future events or performance are not historical facts and may be forward-looking. These statements are often, but not always, made through the use of words or phrases such as “anticipate,” “believes,” “can,” “could,” “may,” “predicts,” “potential,” “should,” “will,” “estimate,” “plans,” “projects,” “continuing,” “ongoing,” “expects,” “intends” and similar words or phrases. South Plains cautions that the forward-looking statements in this press release are based largely on South Plains’ expectations and are subject to a number of known and unknown risks and uncertainties that are subject to change based on factors which are, in many instances, beyond South Plains’ control. Factors that could cause such changes include, but are not limited to, the expected impact of the proposed transaction between South Plains and BOH and on the combined entities’ operations, financial condition, and financial results; the businesses of South Plains and BOH may not be combined successfully, or such combination may take longer to accomplish than expected; the cost savings from the proposed transaction may not be fully realized or may take longer to realize than expected; operating costs, customer loss and business disruption following the proposed transaction, including adverse effects on relationships with employees, may be greater than expected; the impact on South Plains and BOH, and their respective customers, of a decline in general economic conditions that would adversely affect credit quality and loan originations, and any regulatory responses thereto; slower economic growth rates or potential recession in the United States and South Plains’ and BOH’s market areas; the impacts related to or resulting from uncertainty in the banking industry as a whole; increased competition for deposits in our market areas among traditional and nontraditional financial services companies, and related changes in deposit customer behavior; the impact of changes in market interest rates, whether due to a continuation of the elevated interest rate environment or further reductions in interest rates and a resulting decline in net interest income; the lingering inflationary pressures, and the risk of the resurgence of elevated levels of inflation, in the United States and South Plains’ and BOH’s market areas; the uncertain impacts of ongoing quantitative tightening and current and future monetary policies of the Board of Governors of the Federal Reserve System; changes in unemployment rates in the United States and South Plains’ and BOH’s market areas; adverse changes in customer spending, borrowing and savings habits; declines in commercial real estate values and prices; a deterioration of the credit rating for U.S. long-term sovereign debt or the impact of uncertain or changing political conditions, including federal government shutdowns and uncertainty regarding United States fiscal debt, deficit and budget matters; cyber incidents or other failures, disruptions or breaches of our operational or security systems or infrastructure, or those of our third-party vendors or other service providers, including as a result of cyber-attacks; severe weather, natural disasters, acts of war or terrorism, geopolitical instability or other external events, including as a result of the policies of the current U.S. presidential administration or Congress; the impacts of tariffs, sanctions, and other trade policies of the United States and its global trading counterparts and the resulting impact on South Plains and its customers; competition and market expansion opportunities; changes in non-interest expenditures or in the anticipated benefits of such expenditures; the risks related to the development, implementation, use and management of emerging technologies, including artificial intelligence and machine learnings; potential costs related to the impacts of climate change; current or future litigation, regulatory examinations or other legal and/or regulatory actions; and changes in applicable laws and regulations. Additional information regarding these risks and uncertainties to which South Plains’ business and future financial performance are subject is contained in South Plains’ most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q on file with the SEC, including the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” of such documents, and other documents South Plains files or furnishes with the SEC from time to time, which are available on the SEC’s website, www.sec.gov. Actual results, performance or achievements could differ materially from those contemplated, expressed, or implied by the forward-looking statements due to additional risks and uncertainties of which South Plains is not currently aware or which it does not currently view as, but in the future may become, material to its business or operating results. Due to these and other possible uncertainties and risks, the Company can give no assurance that the results contemplated in the forward-looking statements will be realized and readers are cautioned not to place undue reliance on the forward-looking statements contained in this press release. Any forward-looking statements presented herein are made only as of the date of this press release, and South Plains does not undertake any obligation to update or revise any forward-looking statements to reflect changes in assumptions, new information, the occurrence of unanticipated events, or otherwise, except as required by applicable law. All forward-looking statements, express or implied, included in the press release are qualified in their entirety by this cautionary statement.

Source: South Plains Financial, Inc.

March 23, 2026 16:15 ET  | Source: Slide Insurance Holdings, Inc.

TAMPA, Fla., March 23, 2026 (GLOBE NEWSWIRE) -- Slide Insurance Holdings, Inc. (“Slide” or the “Company”) (Nasdaq: SLDE) today announced that it has completed its initial $120 million common stock repurchase program and that its Board of Directors has authorized a new common stock repurchase program of $125 million. The authorization is effective immediately, has no time limit, and may be modified, suspended or discontinued at any time.

“We are pleased that the Board has authorized a new $125 million stock repurchase program, reflecting confidence in our long-term growth strategy, superior underwriting capabilities and robust capital position,” said Bruce Lucas, Chairman and Chief Executive Officer of Slide. “Given the abundant capital we maintain to successfully execute on our diversified growth strategy and the ability of our business model to generate significant free cash flow, we will opportunistically repurchase common stock when we believe it is below fair value and further create long-term value for our shareholders. At current levels, we believe it is very accretive for Slide to repurchase common stock.”

Under the prior completed program, Slide repurchased 7,109,417 common shares at a weighted average share price of $16.88.

Share repurchases under the stock repurchase program may be made in the open market at prevailing market prices, through privately negotiated transactions, or through other structures in accordance with applicable federal securities laws, at times and in amounts as management deems appropriate. The timing and the amount of any common stock repurchases will be determined by the Company’s management based on its evaluation of market conditions, the company’s liquidity needs, corporate and regulatory requirements and restrictions, share price, trading volume and other factors. Repurchases of common stock may be made under a Rule 10b5-1 plan, which would permit common stock to be repurchased when the company might otherwise be precluded from doing so under insider trading laws. The repurchase program does not obligate the company to purchase any particular number of shares and may be suspended, modified, or discontinued at any time without prior notice.

Forward-Looking Statements

Statements in this press release that are not historical facts are forward-looking statements that are subject to certain risks and uncertainties that could cause actual events and results to differ materially from those discussed herein. In some cases, you can identify these statements by forward-looking words such as “may,” “might,” “will,” “should,” “expect,” “plan,” “anticipate,” “believe,” “aim,” “estimates,” “predicts,” “potential” or “continue,” the negative of these terms and other comparable terminology and relate, without limitation, to the Company’s beliefs and expectations regarding the Company’s projections of future financial performance including net margins and its share repurchase program and its ability to increase return on equity and build long-term value for shareholders. These statements are only predictions based on Slide’s current expectations and projections about future events and are not guarantees of actual results, level of activity, performance or achievements. Although Slide believes the expectations reflected in the forward-looking statements are based on reasonable assumptions, there are important factors that could cause the Company’s actual results, level of activity, performance or achievements to differ materially from those anticipated in any forward-looking statements, including, among others, our limited operating history; the success of the Company’s underwriting and profitability initiatives; inflation and other changes in economic conditions (including changes in interest rates and financial and real estate markets), including changes that may impact demand for our products and our operations; lack of effectiveness of exclusions and loss limitation methods in the insurance policies we assume or write; inherent uncertainty of our models and our reliance on such models as a tool to evaluate risk; the impact of macroeconomic conditions, including declining consumer confidence, inflation, high unemployment and the threat of recession; the impact of new federal and state regulations that affect the property and casualty insurance market and our failure to meet increased regulatory requirements, including minimum capital and surplus requirements; the cost of reinsurance, the collectability of reinsurance and our ability to obtain reinsurance coverage on terms and at a cost acceptable to us; assessments charged by various governmental agencies; pricing competition and other initiatives by competitors; our ability to obtain regulatory approval for requested rate changes, and the timing thereof; legislative and regulatory developments; the outcome of litigation pending against us, including the terms of any settlements; risks related to the nature of our business; performance of our investment portfolio; the adequacy of our liability for losses and loss adjustment expense; ratings by industry services; catastrophe losses; reliance on key personnel; weather conditions (including the severity and frequency of storms, hurricanes, tornadoes, wildfires and hail); acts of war and terrorist activities; court decisions and trends in litigation; and other matters described from time to time by us in our filings with the Securities and Exchange Commission.

Any forward-looking statement made by Slide in this press release speak only as of the date on which it is made. Slide undertakes no obligation to update any forward-looking statement, whether as a result of new information, actual results, revised expectations or otherwise, except as may be required by law.

About Slide

Slide is a technology-enabled insurance company that makes it easy for homeowners to choose the right coverage for their unique needs and budgets. Slide's cutting-edge technology leverages artificial intelligence and big data to optimize and streamline every part of the insurance process. Based in Tampa, FL, Slide was founded by Bruce and Shannon Lucas, insurance insiders with a deep understanding of how technology can be applied to achieve better underwriting outcomes. For more information, please visit https://www.slideinsurance.com.

Contacts

Investors
[email protected]

Media
Rachel Carr
Chief Marketing Officer
[email protected]

, /PRNewswire/ -- Marathon Petroleum Corp. (NYSE: MPC) will host a conference call on Tuesday, May 5, 2026, at 11 a.m. EDT to discuss 2026 first-quarter financial results.

Interested parties may listen to the conference call by visiting MPC's website at www.marathonpetroleum.com. A replay of the webcast will be available on MPC's website for two weeks. Financial information, including the earnings release and other investor-related material, will also be available online prior to the conference call and webcast at www.marathonpetroleum.com.

About Marathon Petroleum Corporation

MPC is a leading, integrated, downstream and midstream energy company headquartered in Findlay, Ohio. The company operates the nation's largest refining system. MPC's marketing system includes branded locations across the United States, including Marathon brand retail outlets. MPC also owns the general partner and majority limited partner interest in MPLX LP, a midstream company that owns and operates gathering, processing, and fractionation assets, as well as crude oil and light product transportation and logistics infrastructure. More information is available at www.marathonpetroleum.com.

Investor Relations Contacts: (419) 421-2071
Kristina Kazarian, Vice President Finance and Investor Relations
Brian Worthington, Senior Director, Investor Relations
Alyx Teschel, Director, Investor Relations

Media Contact: (419) 421-3577
Jamal Kheiry, Communications Manager

SOURCE Marathon Petroleum Corporation

March 23, 2026 16:16 ET  | Source: Context Therapeutics Inc.

Phase 1a interim data for ongoing trial of CTIM-76 (CLDN6 x CD3) expected in June 2026

Phase 1a interim data for ongoing trial of CT-95 (MSLN x CD3) expected in September 2026

Cash and cash equivalents of $66.0 million as of December 31, 2025 expected to fund operations into mid-2027

PHILADELPHIA, March 23, 2026 (GLOBE NEWSWIRE) -- Context Therapeutics Inc. (“Context” or the “Company”) (Nasdaq: CNTX), a clinical-stage biopharmaceutical company advancing T cell engaging bispecific antibodies for solid tumors, today announced its financial results for the year ended December 31, 2025, and reported on recent and upcoming business highlights.

“We believe 2025 was a year of significant progress for Context as we advanced our pipeline of T cell-engaging bispecific antibodies for solid tumors. We are on track to provide Phase 1a interim data for our CTIM-76 trial in June 2026. We are also continuing dose escalation for CT-95 toward target dose levels and expect to provide Phase 1a interim data for this trial in September 2026. Looking ahead, we anticipate dosing the first patient in our CT-202 Phase 1 trial in the third quarter of 2026,” said Martin Lehr, CEO of Context.

“Supported by an expected cash runway extending into mid-2027, we remain focused on execution and believe we are positioned to deliver multiple clinical updates throughout the remainder of 2026.” concluded Mr. Lehr.

Recent and Upcoming Business Highlights

Pipeline Highlights

CTIM-76: CLDN6 x CD3 bispecific TCE in Phase 1 dose escalation for patients with ovarian, endometrial or testicular cancer. Context anticipates completing the weekly (QW) dose escalation phase of the trial in the first half of 2026 and plans to evaluate every three week (Q3W) dosing in the second half of 2026. Context plans to host a company webinar to present CTIM-76 interim Phase 1a data in June 2026.In November 2025, Context presented early efficacy, safety, and pharmacokinetic data from Cohorts 1-4 in the ongoing Phase 1a dose escalation study of CTIM-76. As of the October 30, 2025 cutoff date, 12 patients received CTIM-76. Preliminary signs of anti-tumor activity, including an ongoing RECIST response (Response Evaluation Criteria in Solid Tumors), had been observed. No Cytokine Release Syndrome (“CRS”) greater than Grade 1 had been observed in any cohort. No dose limiting toxicity (“DLT”) had been observed and a maximum tolerated dose (“MTD”) had not been reached.

CT-95: MSLN x CD3 bispecific TCE in Phase 1 dose escalation for patients with pancreatic, non-small cell lung, ovarian, mesothelioma and colorectal cancer. Context is evaluating CT-95 in a Phase 1a dose escalation study. Context plans to host a company webinar to present CT-95 interim Phase 1a data in September 2026.CT-202: Nectin-4 x CD3 bispecific TCE in preclinical development for patients with bladder, non-small cell lung, colorectal, breast, and head and neck cancer. Context completed necessary regulatory filings to support the initiation of a first-in-human trial in March 2026 and expects to dose the first patient in its CT-202 Phase 1 trial the third quarter of 2026.In November 2025, Context presented a Trial in Progress poster for the Phase 1 clinical trial evaluating CT-95 as well as a poster for preclinical efficacy, safety and pharmacokinetic data for CT-202 at the Society for Immunotherapy of Cancer’s (SITC) 40th Annual Meeting. Corporate Highlights

In March 2026, presented at the TD Cowen 46th Annual Health Care Conference, the Citizens Life Sciences Conference and the Leerink Partners Global Healthcare Conference.In February 2026, presented at the Guggenheim Emerging Outlook Conference.In November 2025, presented at the Guggenheim 2nd Annual Healthcare Innovation Conference and the Stifel 2025 Healthcare Conference. Fiscal Year 2025 Financial Results

Cash and cash equivalents were $66.0 million at December 31, 2025, compared to $94.4 million at December 31, 2024. The Company expects its cash and cash equivalents will be sufficient to fund its operations into mid-2027.Research and development (“R&D”) expenses were $31.9 million for 2025, as compared to $22.7 million in 2024. The increase in R&D expenses was primarily driven by higher CT-202 expense of $4.4 million, higher CTIM-76 expense of $1.3 million, and higher personnel-related costs of $3.3 million. R&D expense for 2024 included in-process research and development charges of $14.75 million related to the acquisition of CT-95 and in-licensing of CT-202 in that year.General and administrative expenses were $7.8 million for 2025, as compared to $7.2 million for 2024. The increase was primarily driven by increases in salaries and personnel-related costs, including share-based compensation.Other income was $3.6 million for 2025, as compared to $3.2 million for 2024, primarily due to higher interest income earned on cash and cash equivalent balances.Context reported a net loss of $36.1 million for 2025, as compared to $26.7 million for 2024. About Context Therapeutics®
Context Therapeutics Inc. (Nasdaq: CNTX) is a biopharmaceutical company advancing T cell engaging (“TCE”) bispecific antibodies for solid tumors. Context’s goal is to build an innovative portfolio of TCE bispecific therapeutics, including CTIM-76, a Claudin 6 x CD3 TCE, CT-95, a Mesothelin x CD3 TCE, and CT-202, a Nectin-4 x CD3 TCE. Context is headquartered in Philadelphia. For more information, please visit www.contexttherapeutics.com or follow the Company on X (formerly Twitter) and LinkedIn.

Forward-looking Statements
This press release contains “forward-looking statements” that involve substantial risks and uncertainties for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. Any statements, other than statements of historical fact, included in this press release regarding strategy, future operations, prospects, plans and objectives of management, including words such as “may,” “will,” “expect,” “anticipate,” “look forward,” “plan,” “intend,” and similar expressions (as well as other words or expressions referencing future events, conditions, or circumstances) are forward-looking statements. These include, without limitation, statements regarding (i) the Company’s expectation to provide Phase 1a interim data, and host a webinar to present data, for CTIM-76 in June 2026, (ii) the Company’s expectation to provide Phase 1a interim data, and host a webinar to present data, for CT-95 in September 2026, (iii) the Company’s expectation to dose the first patient in its Phase 1 trial for CT-202 in the third quarter of 2026, (iv) the Company’s expectation to have sufficient cash and cash equivalents to fund its operations into mid-2027, (v) the Company’s expectation to deliver clinical updates throughout the remainder of 2026, (vi) the potential benefits, characteristics, and side effect profile of the Company’s product candidates, (vii) the ability of the Company’s product candidates to have benefits, characteristics, and a side effect profile that is differentiated and/or better than third party product candidates, (viii) the likelihood data will support future development, and (ix) the likelihood of obtaining regulatory approval of the Company’s product candidates. Forward-looking statements in this release involve substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the forward-looking statements, and the Company therefore cannot assure the reader that its plans, intentions, expectations, or strategies will be attained or achieved. Other factors that may cause actual results to differ from those expressed or implied in the forward-looking statements in this press release are discussed in the Company’s filings with the U.S. Securities and Exchange Commission, including the section titled “Risk Factors” contained therein. Except as otherwise required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as of the date they were made, whether as a result of new information, future events, or circumstances or otherwise.

Context Therapeutics Inc.Condensed Statements of Operations(Unaudited)     Year Ended December 31,  2025   2024     Operating Expenses   Research and development$31,856,252  $22,701,335 General and administrative 7,846,379   7,222,565 Loss from operations (39,702,631)  (29,923,900)Other income (expense), net 3,579,016   3,198,796 Net loss$(36,123,615) $(26,725,104)    Net loss per common share, basic and diluted$(0.38) $(0.46)Weighted average shares outstanding, basic and diluted 95,185,683   58,416,141             Context Therapeutics Inc.Condensed Balance Sheets Data(Unaudited)     December 31, December 31,  2025   2024     Cash and cash equivalents$65,995,228  $94,429,824 Other assets 2,498,540   3,696,935 Total assets$68,493,768  $98,126,759     Total liabilities$8,020,041  $2,860,497 Total stockholders' equity 60,473,727   95,266,262 Total liabilities and stockholders' equity$68,493,768  $98,126,759          Investor Relations Contact:
Jennifer Minai
Context Therapeutics Inc.
[email protected]

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HOUSTON — Asian countries want to buy more U.S. energy to reduce their dependence on oil and gas exports from the Middle East, Interior Secretary Doug Burgum told CNBC on Monday.

Japan, South Korea and Taiwan rely heavily on exports through the Strait of Hormuz. Oil tanker traffic through the strait has plunged as Iran attacks commercial ships in the Persian Gulf.

"They want to buy more energy from the U.S.," Burgum told CNBC's Brian Sullivan in an interview. President Donald Trump's energy dominance agenda is designed to provide U.S. allies with a stable, alternative supply of energy, the Interior secretary said.

The U.S. is the largest oil and gas producer in the world.

"Our allies and our friends can buy from us as opposed to having to buy from countries that either wage war or fund terrorism," said Burgum, who travelled to Japan earlier this month.

The U.S. and Israeli attack on Iran has triggered the largest oil supply disruption in history. Tokyo relies on the strait for 90% of its oil imports, said Takehiko Matsuo, a vice minister at Japan's Ministry of Economy, Trade and Industry.

"The impact is significant," Matsuo said at S&P Global's CERAWeek conference in Houston, Texas. Japan has placed a high priority on finding alternative supplies, he said.

"I must say it's not easy," the vice minister said. "The United States is one of the most anticipated alternative energy source for Asian countries."

Asian economies are also heavily dependent on liquefied natural gas (LNG) exports through the strait. Iranian attacks on Qatar's energy infrastructure has shut down about 20% of the world's LNG supplies.

Alaska will play a major role in providing Asia with secure energy, Burgum said. The Interior Department recently held an oil and gas lease sale for the National Petroleum Reserve in Alaska. The Trump administration has also made an massive LNG project in Alaska a top priority.

Energy exported from Alaska takes just eight days to reach Asian allies, five of which are in U.S. territorial waters along the Aleutian Island, Burgum said.

"It's a secure supply of energy," the interior secretary said.

Alibaba Group (BABA +3.13%) doesn't want to be known as just an e-commerce giant any longer. Throughout 2025, the Chinese company leaned into its ambitions to become a cloud and artificial intelligence leader. The most recent quarterly results, however, paint a complicated picture of a business that's thriving in some ways, but uncertain in others.

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Leaning into the cloud Alibaba's cloud intelligence line grew by 36% in this latest quarter compared to the same period last year. Overall, though, Alibaba reported a 66% year-over-year decline in net income. The steep drop is mostly attributed to a strategic pivot into technology investments, improved user experiences, and quick commerce.

The main question, however, is whether Alibaba is too late in its efforts to catch up as a leader in AI and cloud services. Yes, a 36% increase in its cloud business this past quarter is promising, but there's real concern regarding the e-commerce side. Most problematic is the 74% year-over-year decline in operating income. The compression in the company's profits is real, and it's making shareholders nervous.

Image source: Getty Images.

Alibaba is going all-in on AI and cloud intelligence. The company's Qwen app is a globally competitive AI personal assistant. Since the company launched a new and improved version in early February, approximately 140 million Qwen users have experienced their first AI-driven shopping experience. The app boasts more than 300 million monthly active users across all of its platforms.

Investors aren't so sure yet Overall, Alibaba missed Wall Street's expectations, and shares listed in the U.S. fell about 7% following the release. So far in 2026, Alibaba's stock price has decreased by more than 15%.

For investors searching for an inexpensive entry point, Alibaba is attractively priced right now. Its current forward P/E ratio has dropped to just 13. Its PEG ratio is now 1.59. Both metrics suggest Alibaba is either fairly priced or even slightly undervalued.

Is Alibaba a buy right now? If you believe Alibaba can fully catch up in agentic AI, buying the stock now might be a no-brainer. For investors like me, who are a bit more wary due to geopolitical and execution risks, these most recent earnings make me want to take a more wait-and-see approach.

There's reason to believe Alibaba can pull off this strategic move into a broader technology platform, but it's going to be hugely expensive in the short to intermediate term, and not without intense competition in both China and abroad.

Affected Driven Brands Holdings Inc. Investor Summary

Who: Driven Brands Holdings Inc. (NASDAQ: DRVN)What: Securities fraud class action lawsuit filedClass Period: May 9, 2023, through February 24, 2026Deadline to Seek Lead Plaintiff Status: May 8, 2026Key Lawsuit Allegations: Material misstatements and/or omissions concerning the company’s accounting and internal controls over financial report.Investor Action: Contact Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) for recovery options at no cost to investor RADNOR, Pa., March 23, 2026 (GLOBE NEWSWIRE) -- Kessler Topaz Meltzer & Check, LLP (www.ktmc.com), a nationally recognized securities litigation law firm, informs investors that a securities fraud class action lawsuit has been filed against Driven Brands Holdings Inc. (Driven Brands) (NASDAQ: DRVN) on behalf of those who purchased or acquired Driven Brands common stock between May 9, 2023, and February 24, 2026, inclusive. The lawsuit is filed in the United States District Court for the Southern District of New York and is captioned Clark v. Driven Brands Holdings Inc., et al, Case No. 1:26-cv-01902 (S.D.N.Y.). Investors have until May 8, 2026, to file for lead plaintiff status.  

CONTACT KTMC TO DISCUSS YOUR LEGAL RIGHTS:
If you purchased or acquired Driven Brands common stock and have lost money on your investment, you are encouraged to contact KTMC attorney Jonathan Naji, Esq. at:

(484) 270-1453
[email protected]
https://www.ktmc.com/drvn-driven-brands-holdings-inc-class-action-lawsuit?utm_source=Globe&utm_medium=pressrelease&utm_campaign=drvn&mktm=PR

There is no cost or obligation to speak with an attorney.

Learn more about Driven Brands Holdings Inc. on YouTube:

Driven Brands Holdings Inc. Securities Class Action Lawsuit (long video)Driven Brands Holdings Inc. Securities Class Action Lawsuit (short video) DRIVEN BRANDS HOLDINGS INC. CLASS ACTION LAWSUIT - COMPLAINT ALLEGATION SUMMARY:
The complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about Driven Brands’ business and operations. Specifically, Defendants misrepresented and/or failed to disclose that: (1) there were errors relating to the recording of leases which primarily impacted Driven Brands’ right of use assets and right of use liabilities recorded in the company’s consolidated balance sheet as of December 28, 2024, and September 27, 2025; (2) there were errors in Driven Brands’ reporting of opening and ending cash balances and operating cash flows, which resulted in overstatements of cash and revenue, and understatement of selling, general and administrative expense in consolidated statement of operations for fiscal years 2023 and 2024; (3) Driven Brands’ supply and other expenses were improperly presented as company-operated store expenses in fiscal years 2023 and 2024; (4) Driven Brands identified other errors relating to the company’s income tax provision, supply and other revenue, fixed assets, cloud computing, lease cash applications, balance sheet and income statement misclassifications, and improperly recognized revenue in Driven Brands’ ATI business primarily related to fiscal year 2025; and (5) as a result of the foregoing, Defendants statements about the company’s business, operations, and prospects were materially false and misleading at all relevant times.

Why did Driven Brands’ Stock Drop?
On February 25, 2026, Driven Brands disclosed that the company would restate its financial statements for fiscal years 2023 and 2024, as well as quarterly and year-to-date financials for 2025, after identifying numerous material accounting errors. Driven Brands further revealed material weaknesses in its internal controls over financial reporting and delayed the filing of its 2025 Form 10-K. On this news, Driven Brands’ stock price fell $5.01 per share, or nearly 40%, from a close of $16.61 per share on February 24, 2026, to close at $11.60 per share on February 25, 2026.

WHAT DRVN INVESTORS CAN DO NOW:

File to be lead plaintiff by May 8, 2026.Contact KTMC for a free case evaluation. All representation is on a contingency fee basis, there is no cost to you.Retain counsel of choice or take no action.
THE LEAD PLAINTIFF PROCESS FOR DRIVEN BRANDS HOLDINGS INC. INVESTORS:
Driven Brands investors may, no later than May 8, 2026, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation.  The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.

Kessler Topaz Meltzer & Check, LLP encourages Driven Brands investors to contact the firm for more information.

ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP (KTMC):

Kessler Topaz Meltzer & Check, LLP (KTMC) is a leading U.S. plaintiff-side law firm focused on securities-fraud class actions and global investor protection. The firm represents individual investors as well as institutions, such as major pension funds, asset managers, and international investors. KTMC has led some of the largest recoveries in securities litigation and has been recognized by peers and the legal media with numerous accolades, including The National Law Journal’s Plaintiff’s Hot List and Trailblazers in Plaintiffs' Law, BTI Consulting Group’s Honor Roll of Most Feared Law Firms, The Legal Intelligencer’s Class Action Firm of the Year, Lawdragon’s Leading Plaintiff Financial Lawyers, and Law360’s Titans of the Plaintiffs Bar. The firm operates globally with offices in Pennsylvania and California.  KTMC has recovered over $25 billion for our clients and the classes they represent. For more information about Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com. The complaint in this matter was not filed by KTMC.

CONTACT:

Jonathan Naji, Esq.
(484) 270-1453
280 King of Prussia Road
Radnor, PA 19087
[email protected]

May be considered attorney advertising in certain jurisdictions. Past results do not guarantee future outcomes.

LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay Wolke & Rotter LLP, a leading national shareholder rights law firm, today announced that it has commenced an investigation on behalf of Super Micro Computer, Inc. (“Super Micro” or the “Company”) (NASDAQ: SMCI) investors concerning the Company's possible violations of the federal securities laws. IF YOU ARE AN INVESTOR WHO LOST MONEY ON SUPER MICRO COMPUTER, INC. (SMCI), CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS.

March 23, 2026 15:00 ET  | Source: Stryker Corporation

Portage, Michigan, March 23, 2026 (GLOBE NEWSWIRE) -- Stryker (NYSE:SYK) announced its 2026 Annual Meeting of Shareholders is scheduled as follows:

Wednesday, May 6, 2026 – 12:00 p.m. Eastern Time

The Meeting will be held virtually via the internet. Information about the webcast, which will include both the audio and the slide presentation from the meeting, is available on the Investor Relations page of our website at www.investorevents.stryker.com.

A recording of the annual meeting will also be available from 10:30 a.m., Eastern Time, on Thursday, May 7, 2026 at www.virtualshareholdermeeting.com/SYK2026 until the definitive proxy statement for our 2027 Annual Meeting of Shareholders is filed with the United States Securities and Exchange Commission.

About Stryker

Stryker is a global leader in medical technologies and, together with our customers, we are driven to make healthcare better. We offer innovative products and services in MedSurg, Neurotechnology and Orthopaedics that help improve patient and healthcare outcomes. Alongside our customers around the world, we impact more than 150 million patients annually. More information is available at www.stryker.com.

Contacts

For investor inquiries:
Jason Beach, Vice President, Finance and Investor Relations at 269-385-2600 or [email protected]

For media inquiries:
Kim Montagnino, Vice President, Chief Communications Officer at 269-385-2600 or [email protected]

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Important DisclaimersFXEmpire is owned and operated by Empire Media Network LTD., Company Registration Number 514641786, registered at 7 Jabotinsky Road, Ramat Gan 5252007, Israel. The content provided on this website includes general news and publications, our personal analysis and opinions, and materials provided by third parties. This content is intended for educational and research purposes only. It does not constitute, and should not be interpreted as, a recommendation or advice to take any action, including making any investment or purchasing any product. Before making any financial decision, you should conduct your own due diligence, exercise your own discretion, and consult with competent advisors. The content on this website is not personally directed to you, and we do not take into account your individual financial situation or needs. The information contained on this website is not necessarily provided in real time, nor is it guaranteed to be accurate. Prices displayed may be provided by market makers and not by exchanges. Any trading or other financial decision you make is entirely your own responsibility, and you must not rely solely on any information provided through the website. FXEmpire does not provide any warranty regarding the accuracy, completeness, or reliability of any information contained on the website and shall bear no responsibility for any trading losses you may incur as a result of using such information. The website may include advertisements and other promotional content. FXEmpire may receive compensation from third parties in connection with such content. FXEmpire does not endorse, recommend, or assume responsibility for the use of any third-party services or websites. Empire Media Network LTD., its employees, officers, subsidiaries, and affiliates shall not be liable for any loss or damage resulting from your use of the website or reliance on the information provided herein.Risk DisclaimersThis website contains information about cryptocurrencies, contracts for difference (CFDs), and other financial instruments, as well as about brokers, exchanges, and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and involve a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money. FX Empire encourages you to conduct your own research before making any investment decision and to avoid investing in any financial instrument unless you fully understand how it works and the risks involved.

Caledonia Mining Corporation Plc (CMCL) Q4 2025 Earnings Call March 23, 2026 10:00 AM EDT

Company Participants

Mark Learmonth - CEO & Non-Independent Director
Ross Ian Jerrard - Chief Financial Officer
Victor Gapare - Non-Independent Executive Director
Craig Harvey - Vice President of Technical Services
Enock Chimedza - Technical Director and Director

Conference Call Participants

Howard Flinker - Flinker & Co
Michael Kozak - Cantor Fitzgerald Canada Corporation, Research Division
Nic Dinham - SBG Securities (Proprietary) Limited, Research Division
Tatira Zwinoira
Tinashe Duma

Presentation

Operator

Welcome to the Caledonia Mining quarterly and full year results 2025 presentation for analysts and investors.

I would now like to hand you over to Mark Learmonth, who is the CEO. Mark, over to you.

Mark Learmonth
CEO & Non-Independent Director

Good afternoon, and welcome to this management conference call. If we could move to the first slide of the presentation, please. Just go to the disclaimer. So that's the standard disclaimer. If we could move on to the next slide, please. Presenting teams' me, Mark Learmonth, Caledonia's Chief Executive. We're also joined by Ross Jerrard, who will run us through the financial performance for the year; Victor Gapare, who will talk to us about what's happening at Bilboes; and Craig Harvey will give us an update on the various exploration initiatives. If we could move on to the next slide, please.

So just in terms of the summary of the results, it was a very strong financial performance, underpinned by a higher gold price and some consistent operating delivery. Revenue up by 46% to $267 million. Gross profit up by 78% to $137 million. EBITDA up by 100% from just less than $60 million to just over $125 million, and profit after tax, up by 200% from $23 million to $67 million. So there's some quite big numbers there. Ross will unpack those numbers in more detail in a moment. Should we move on to the next slide, please?

, /PRNewswire/ -- Class Action Attorney Juan Monteverde with Monteverde & Associates PC (the "M&A Class Action Firm"), has recovered millions of dollars for shareholders and is recognized as a Top 50 Firm in the 2025 ISS Securities Class Action Services Report. The firm is headquartered at the Empire State Building in New York City and is investigating Warner Bros. Discovery, Inc. (NASDAQ: WBD) related to its sale to Paramount Skydance Corporation. Under the terms of the proposed transaction, Warner Bros. shareholders are expected to receive (i) $31.00 per share in cash and (ii) a ticking consideration of $0.00277778 multiplied by the number of calendar days elapsed after September 30, 2026. Is it a fair deal?

Click here for more info https://monteverdelaw.com/case/warner-bros-discovery-inc-2/. It is free and there is no cost or obligation to you.

NOT ALL LAW FIRMS ARE EQUAL. Before you hire a law firm, you should talk to a lawyer and ask:

Do you file class actions and go to Court? When was the last time you recovered money for shareholders? What cases did you recover money in and how much? About Monteverde & Associates PC

Our firm litigates and has recovered money for shareholders…and we do it from our offices in the Empire State Building. We are a national class action securities firm with a successful track record in trial and appellate courts, including the U.S. Supreme Court. 

No one is above the law. If you own common stock in the above listed company and have concerns or wish to obtain additional information free of charge, please visit our website or contact Juan Monteverde, Esq. either via e-mail at [email protected] or by telephone at (212) 971-1341.

Contact:
Juan Monteverde, Esq.
MONTEVERDE & ASSOCIATES PC
The Empire State Building
350 Fifth Ave. Suite 4740
New York, NY 10118
United States of America
[email protected]
Tel: (212) 971-1341

Attorney Advertising. (C) 2026 Monteverde & Associates PC. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com). Prior results do not guarantee a similar outcome with respect to any future matter.

SOURCE Monteverde & Associates PC

Jeremy Szafron joins Kitco News as an anchor and producer from Kitco’s Vancouver bureau. 
Jeremy is a seasoned journalist with a diverse background covering entertainment, current affairs and finance.

Jeremy began his career in 2006 as a Journalist at CTV (Canada’s largest network), initially engaging audiences as an entertainment reporter before pivoting to business reporting focusing on mining and small-caps. His macro-financial and market trends analysis made him a sought-after commentator on CTV Morning Live and a regular on CTV News Network.

A notable milestone in Jeremy's career was his 2010 Vancouver Olympic Games coverage, highlighting the Olympic community and hosting segments from various Country Houses at the games.  Building on this experience, Jeremy developed an online video news program for PressReader, launching them into a new direction. PressReader is a digital newsstand with 8,000 newspaper and magazine editions in 60 languages from more than 120 countries.

In 2012, Jeremy ventured into his own digital media project, creating The Green Scene Podcast, swiftly gaining over 400,000 subscribers and establishing himself as a key voice in the emerging cannabis industry. Following this success, he launched Investor Scene and Initiate Research, news platforms providing exclusive market insights and deal-flow opportunities in mining and Canadian small-caps.

Jeremy has also worked as a market strategist and investor relations consultant with various publicly traded companies in the mining, energy, CPG, and tech industries.

A graduate of Concordia University with a BA in Journalism, Jeremy's academic background laid the foundation for his diverse and dynamic career. Now, as an Anchor at Kitco News, Jeremy will continue to inform a global audience of the latest developments and critical themes in finance and commodities.
 

SAN DIEGO--(BUSINESS WIRE)---- $COTY #Coty--Robbins LLP informs stockholders that a class action was filed on behalf of all investors who purchased or otherwise acquired Coty Inc. (NYSE: COTY) common stock between November 5, 2025 and February 4, 2026. Coty together with its subsidiaries, manufactures, markets, distributes, and sells branded beauty products worldwide. 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 Inves.

Paul Meeks believes it's "inevitable" Nvidia (NVDA) will lose market share as the AI trade develops, but expects it to grow into such a substantial market that Nvidia has more than enough room to thrive. He talks about innovations at the company's GTC 2026 conference and ways the stock will break out of its months-long consolidation.