Market Signal Briefing

CSP Inc. (CSPI) Q4 2025 Earnings Call December 16, 2025 10:00 AM EST

Company Participants

Victor Dellovo - CEO, President & Director
Gary Levine - VP of Finance, CFO, Treasurer & Secretary

Conference Call Participants

Michael Polyviou - EVC Group Inc.
Joseph Nerges
William Lauber

Presentation

Operator

Good day, everyone, and welcome to the CSPi's Fiscal Fourth Quarter and Full Year 2025 Conference Call. [Operator Instructions]

It is now my pleasure to hand the floor over to your host, Michael Polyviou. Sir, the floor is yours.

Michael Polyviou
EVC Group Inc.

Thank you, Matthew, and hello, everyone, and thank you for joining us to review CSPi's financial results for the fiscal 2025 fourth quarter and full year ended September 30, 2025, as well as recent operating development.

Today, with me on the call is Victor Dellovo, CSPi's Chief Executive Officer; and Gary Levine, CSPi's Chief Financial Officer. After Victor and Gary conclude their opening remarks, we will then open the call for questions. [Operator Instructions]

Statements made by CSPi's management on today's call regarding the company's business that are not historical facts may be forward-looking statements as those identified in federal securities laws. The words may, will, expect, believe, anticipate, project, plan, intend, estimate and continue as well as similar expressions are intended to identify forward-looking statements. Forward-looking statements should not be met as a guarantee of future performance or results. The company cautions you that these statements reflect the current expectations about the company's future performance or events and are subject to several uncertainties, risks and other influences, many of which are beyond the company's control that may influence the accuracy of the statements and the projections upon which the segment and statements are based.

Factors that may affect the company's results include, but are not limited to, the risks and uncertainties

NEW YORK, NY / ACCESS Newswire / December 16, 2025 / For years, even decades, analysts kept waiting for gold to reclaim its role as the foundation of global money. They predicted a return to a monetary gold standard, a moment when central banks would peg currencies to bullion again. But while the world argued about economic theory, the real revolution arrived from an unexpected direction. The next global gold standard will not be financial. It will be forensic.

Gold is entering an era where value is determined not by macroeconomics, but by molecular identity. The question will no longer be how much gold you hold. It will be how much of that gold can prove its truth.

Behind the scenes, global gold markets are fraying. Bars that cannot be confirmed. Supplies with uncertain origin. Vaults that inherited bullion through decades of undocumented transfers. Documentation systems built for a slower world. In the age of sanctions, supply chain crackdowns, and geopolitics, trust is no longer enough. The market needs a gold standard rooted in verification, not nostalgia. This is the quiet crisis gold has been hiding. Its greatest strength has always been certainty, yet its greatest weakness has always been unverifiability.

SMX (NASDAQ:SMX) has drafted the architecture for this new standard. Its molecular identity technology embeds a permanent fingerprint directly into the metal itself. Melt it, recast it, split it, refine it, transport it - the identity stays. That turns gold from a metal that relies on trust into a metal that declares its own truth.

SMX Raises the Gold Standard with a Single Thing: PROOF

The old gold standard functioned on one assumption: that gold held by banks was exactly what banks said it was. For more than a century, institutions moved bullion based on paperwork, serial numbers, and refinery markings. These tools worked when supply chains were simple and geopolitical tensions were low. They do not work now. Today, gold moves through dozens of hands. It is melted, reshaped, alloyed, and transported across borders with inconsistent oversight. Every transformation breaks the chain of identity that the monetary system once trusted blindly.

That is why modern markets no longer fear gold shortages. They fear gold doubt. All it takes is one vault discovering compromised bars for the system to question the authenticity of everything surrounding it. Monetary theory cannot solve that. Certificates cannot solve that. Even the best auditors cannot solve that. You cannot anchor a global currency system to a material that can erase its own past with a blast furnace.

A molecular gold standard solves the flaw entirely. Gold becomes self-authenticating. It carries its own history. It cannot lose its identity. That is the world SMX is building, and it is the world the monetary gold standard needed but never had.

Price-verified Gold at a Premium, Discount Everything Else

Once identity becomes infrastructure, gold splits into two categories. Verified bullion with molecular proof becomes the premium asset. Unverified bullion becomes the risky asset. Investors will gravitate to the tier with certainty. Banks will demand the tier with traceability. Exchanges will list the tier with compliance clarity. And regulators will enforce the tier with forensic-grade evidence. The market will not debate which one deserves a higher price. It will demonstrate it through liquidity, premiums, and global acceptance.

At this point, gold becomes more than a store of value. It becomes a store of truth. That truth has pricing power. Verified gold will command premiums because it eliminates the risk that regulators seize it, vaults reject it, or investors discount it. Unverified gold will drift into a second-class category because no one can guarantee its legality, purity, or origin at scale. The new gold standard is not theoretical. It is operational.

SMX is the company enabling that shift and driving this change. Its technology gives gold a memory, a history, and an identity the market cannot forge or lose. With that, the next era of gold will not be about weight. It will be about proof. And the gold that carries it will likely become the world's most important asset class.

About SMX

As global businesses face new and complex challenges relating to carbon neutrality and meeting new governmental and regional regulations and standards, SMX is able to offer players along the value chain access to its marking, tracking, measuring and digital platform technology to transition more successfully to a low-carbon economy.

Forward-Looking Statements

The information in this press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipate," "believe," "contemplate," "continue," "could," "estimate," "expect," "forecast," "intends," "may," "will," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements in this press release may include, for example: matters relating to the Company's fight against abusive and possibly illegal trading tactics against the Company's stock; successful launch and implementation of SMX's joint projects with manufacturers and other supply chain participants of steel, rubber and other materials; changes in SMX's strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects and plans; SMX's ability to develop and launch new products and services, including its planned Plastic Cycle Token; SMX's ability to successfully and efficiently integrate future expansion plans and opportunities; SMX's ability to grow its business in a cost-effective manner; SMX's product development timeline and estimated research and development costs; the implementation, market acceptance and success of SMX's business model; developments and projections relating to SMX's competitors and industry; and SMX's approach and goals with respect to technology. These forward-looking statements are based on information available as of the date of this press release, and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing views as of any subsequent date, and no obligation is undertaken to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. As a result of a number of known and unknown risks and uncertainties, actual results or performance may be materially different from those expressed or implied by these forward-looking statements. Some factors that could cause actual results to differ include: the ability to maintain the listing of the Company's shares on Nasdaq; changes in applicable laws or regulations; any lingering effects of the COVID-19 pandemic on SMX's business; the ability to implement business plans, forecasts, and other expectations, and identify and realize additional opportunities; the risk of downturns and the possibility of rapid change in the highly competitive industry in which SMX operates; the risk that SMX and its current and future collaborators are unable to successfully develop and commercialize SMX's products or services, or experience significant delays in doing so; the risk that the Company may never achieve or sustain profitability; the risk that the Company will need to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all; the risk that the Company experiences difficulties in managing its growth and expanding operations; the risk that third-party suppliers and manufacturers are not able to fully and timely meet their obligations; the risk that SMX is unable to secure or protect its intellectual property; the possibility that SMX may be adversely affected by other economic, business, and/or competitive factors; and other risks and uncertainties described in SMX's filings from time to time with the Securities and Exchange Commission.

Contact: [email protected]

SOURCE: SMX (Security Matters) Public Limited

Invesco DB Base Metals Fund ETF has rallied 17.19% YTD, reflecting strong base metals price momentum tied to Chinese economic growth. DBB's portfolio is dominated by copper (51.94%), with significant exposure to aluminum and zinc, aligning it closely with global industrial demand trends. Seeking Alpha ETF Grades for DBB improved in momentum and risk, supporting a bullish outlook into 2026 despite persistent volatility and moderate expense ratios.

About Emily Jarvie
Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, The Canberra Times, and... Read more

About the publisher
Proactive financial news and online broadcast teams provide fast, accessible, informative and actionable business and finance news content to a global investment audience. All our content is produced independently by our experienced and qualified teams of news journalists.

Proactive news team spans the world’s key finance and investing hubs with bureaus and studios in London, New York, Toronto, Vancouver, Sydney and Perth.

We are experts in medium and small-cap markets, we also keep our community up to date with blue-chip companies, commodities and broader investment stories. This is content that excites and engages motivated private investors.

The team delivers news and unique insights across the market including but not confined to: biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto and emerging digital and EV technologies.

Use of technology
Proactive has always been a forward looking and enthusiastic technology adopter.

Our human content creators are equipped with many decades of valuable expertise and experience. The team also has access to and use technologies to assist and enhance workflows.

Proactive will on occasion use automation and software tools, including generative AI. Nevertheless, all content published by Proactive is edited and authored by humans, in line with best practice in regard to content production and search engine optimisation.

We are finally up to date on the Employment Situation report from the U.S. Bureau of Labor Statistics (BLS) this morning. After skipping over October initially and pushing back the November numbers a week and a half, we finally see where we are: +64K now jobs were created last month overall, with an Unemployment Rate rising to +4.6%.

Let’s look at the Unemployment Rate first, because it is relatively simple and comprehensive. It’s the highest rate of overall unemployment since July 2021, when we were also growing the labor market by more than +900K jobs that month. Today’s Unemployment Rate is the fifth straight month higher, from June 2025’s +4.1% (although October currently shows a blank space).

Healthcare services once again saw the biggest number of new hires by sector last month, +46K, followed by Construction at +28K and Social Assistance jobs +18K. Trade/Transportation/Utilities fell -18K for the month, and other key sectors — Manufacturing, Leisure & Hospitality, etc. — don’t show up in this morning’s briefing on jobs numbers from the BLS this morning.

Hourly Wages dropped to +0.1% from an anticipated +0.3% (+3.5% year over year, 10 bps lower than expected), which is a sign that labor is not currently aggravating inflation. That said, the number of Americans working part-time for economic reasons has blossomed from +909K in September to +5.5 million last month. This explains somewhat the dip in the Average Workweek to 34.2 hours in November.

Meanwhile, Labor Force Participation actually increased to 62.5%, the best rate since April of this year. This metric looks aligned to a good extent with this massive increase in part-time workers, and it has to do with the deferred resignation program in October, which shed -162K federal government jobs in that month alone. This is slightly higher than the anticipated -150K government jobs shed.

October Headline: -105K Jobs, +52K Private SectorThose federal government layoffs were part of a systemic, planned removal of the federal government workforce, first brought about by Elon Musk’s DOGE program but more effectively by these deferred resignation offers. It appears to be a one-time adjustment to the labor market, but it is a significant adjustment. Federal government employment is down -271K so far, year to date.

The trailing 4-month average in job growth is currently +16K, including thew big October drawdown. The 4-month average previous to that is +59K, and +159K in the 4-month average from December 2024-March 2025. Even today’s seemingly decent +64K new jobs created overall is less than a quarter of the +261K reported in November of 2024.

Key for the American labor market going forward will be whether — and to what extent — the private sector will be willing to absorb these ex-government workers into 2026. This was part of the architecture to the Big Beautiful Bill, making companies more profitable to, in theory, hire a bigger labor force. But the numbers are daunting: +316K Americans are newly out of work between September and November.

How Has the Market Reacted to the Jobs Numbers?Pre-market futures were in the shallow red directly ahead of the BLS numbers hitting the tape this morning, then veered into the green moments afterward. However, they’ve since slid to slightly worse levels at this hour, though still nothing dire: the Dow is -25 points at this hour, the S&P 500 is -10, the Nasdaq -62 points and the small-cap Russell 2000 is -2 points presently. Bond yields for both the 10-year and 2-year have increased: to +4.17% and +3.48%, respectively.

As for odds on the next interest rate cut based on these figures, they don’t appear to have much moved the needle: chances for a January cut are currently less than 25%, while March — the meeting directly following — remains a coin flip.

We will get into details on today’s October Retail Sales report in our afternoon write-up, and we’ll be sure to include S&P flash Services and Manufacturing PMI and a fiscal Q4 earnings report from wide-range homebuilder Lennar ((LEN - Free Report) , which looks to break its streak of two-straight negative earnings surprises.

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

© adamdodd / iStock Editorial via Getty Images

Dividends are an excellent vehicle for creating long-term wealth. By focusing on dividend growth stocks, investors can juice their returns for powerful generational wealth. According to data from Hartford Funds, dividend growth stocks in the S&P 500 outperform all other classes of stocks over long periods. They have also contributed significantly to total returns, even in challenging decades like the 2000s when the broader index had negative returns but dividends provided positive annualized contribution. 

And what American Express (NYSE:AXP) CEO Stephen Squeri just said should get income investors very excited.

Why Warren Buffett Made AmEx a Core Holding
American Express has long been a favorite of Warren Buffett. His investment in the financial services giant dates back to the 1960s, but the current large position stems from the 1990s, including a $300 million purchase of preferred shares in 1991. These were later converted to common shares, and holdings grew further with a 3-for-1 stock split in 2000.

According to the latest filings, Berkshire Hathaway (NYSE:BRK-A)(NYSE:BRK-B) owns approximately 151.6 million shares of American Express. This makes it the second-largest position in the portfolio, representing 18% of the portfolio’s total holdings, just behind Apple (NASDAQ:AAPL) at 20%.

More importantly, while Buffett has trimmed positions in many stocks to raise cash in recent periods, seemingly preparing for a market crash, he has maintained his full stake in American Express without selling any shares.

The Power of Dividend Growth
American Express continues to throw off substantial cash returns through its dividend. The current yield stands at around 0.8%, meager even in comparison to the 1.1% yield of the S&P 500.

However, for long-term holders like Buffett, AmEx’s yield on cost tells a different story. Yield on cost is the annual dividend divided by the original purchase price per share. It is a critical concept for dividend investors as it measures the current dividend payment as a percentage of the stock price at the time of purchase, rather than the current market price. 

For American Express, this metric highlights the power of holding a stock with consistent dividend increases. For investors who have held onto shares over many years, repeated hikes in the payout boost this effective yield significantly. Over the past decade, AmEx’s yield on cost is now 4.7%.

American Express’s strong track record of dividend reliability and growth makes it a classic dividend growth stock. It has increased its dividend at an 11% compound growth rate of over the last 10 years and at nearly 13% for the last five.

American Express’s Hidden Strength
At the Goldman Sachs U.S. Financial Services Conference last week, Squeri told analysts the company’s credit quality and customer base is second to none. 

What historically you’ve seen, if our card members get distressed, they will pay us before they pay the competition. And then, look, if it gets bad like it was at some point during COVID or what have you, what we know is we’re going to perform better than our competitors perform…Our write-off rates are lower than anybody else through bad cycles.

American Express CEO Stephen Squieri

Because it focuses on affluent customers who are less impacted by recessions, its bottom line is stronger.

Key Takeaway
This strength is particularly relevant now, as doubts about the U.S. economy mount. The latest jobs report showed unemployment rising to 4.6%, the highest level in four years. American Express is positioned to weather any economic slowdown or recession better than many peers and the broader market, thanks to its premium customer focus.

This is why it’s a quality dividend growth stock worth owning — and why Buffett has held firm without selling. It’s also why American Express deserves to be part of every income investor’s portfolio.

These were last week’s top performing leveraged and inverse ETFs. Note that because of leverage, these kinds of funds can move quickly. Always do your homework.

1. MSOX – AdvisorShares MSOS Daily Leveraged ETF

MSOX, which seeks to achieve 2x the total daily return of the AdvisorShares Pure US Cannabis ETF (MSOS) through swap agreements, topped the list with a ~94% weekly return. The cannabis industry gained last week on the anticipation of a major policy change. President Trump’s potential executive order to reclassify marijuana as a less dangerous substance sent cannabis shares soaring last week. The order is reportedly expected this week.

2. KOLD – ProShares UltraShort Bloomberg Natural Gas

KOLD, which offers daily inverse leveraged exposure to natural gas, ranked second on the list of top performing levered/ inverse ETFs, returning over 52% last week. U.S. natural gas prices declined on milder winter weather forecasts, reducing immediate heating demand, coupled with near-record high production and ample storage levels.

3. GDXU – MicroSectors Gold Miners 3X Leveraged ETN

GDXU is a leveraged equity fund that provides 3x exposure to an index comprised of two of the largest gold miners’ ETFs, viz VanEck Gold Miners ETF (GDX) and VanEck Junior Gold Miners ETF (GDXJ), that invest in the global gold mining industry. GDXU returned over 17% last week. Gold prices increased, driven by a 0.25% Federal Reserve rate cut last week, upbeat forecasts issued by major banks, and continued robust purchasing by central banks.

4. JNUG – Direxion Daily Junior Gold Miners Index Bull 2x Shares

Another gold-focused ETF, JNUG, which seeks to return 200% of the daily performance of the MVIS Global Junior Gold Miners Index, ranked fourth on the list of top-performing leveraged/inverse ETFs last week, returning ~14%.

5. NUGT – Direxion Daily Gold Miners Index Bull 2x Shares

NUGT seeks daily investment results of 200% of the performance of the NYSE Arca Gold Miners Index, also ranked among the top levered ETFs. The bullish momentum continued, reinforced by optimistic outlooks from major financial institutions and sustained, strong buying activity from central banks globally.

6. DPST – Direxion Daily Regional Banks Bull 3X Shares

DPST, which provides 3x leveraged exposure to an index of US regional banking stocks, was one of the top-performing levered ETFs following the Fed’s quarter-point rate-cut decision this past week, and anticipated moves on expanding the size of its balance sheet.

7. DFEN – Direxion Daily Aerospace & Defense Bull 3X Shares

This ETF aims to triple the daily return of an index of defense industry stocks was one of the top performing levered ETFs last week. The US Aerospace & Defense sector likely rose last week due to strong Q3 earnings from major players like Lockheed Martin and RTX showing robust global defense demand, ongoing recovery in commercial air travel, and positive investor sentiment from proposed large defense budgets for FY2026.

8. AGQ – Proshares Ultra Silver

AGQ ETF, which offers 2x daily long leverage to the Silver bullion, returned ~10%+ last week. Silver prices have surged, spurred by tightening inventories, sustained industrial demand, and its inclusion on the U.S. critical minerals list.

9. PILL – Direxion Daily Pharmaceutical & Medical Bull 3X Shares

The PILL ETF tracks the performance of companies engaged in the research, development, manufacture, sale, or distribution of pharmaceuticals and drugs of all types. The ETF was one of the top-performing levered ETFs, returning over 9% last week, driven by reduced policy uncertainty, accelerating M&A activity, and strong growth potential in innovative therapies such as obesity and diabetes treatments.

10. SOXS – Direxion Daily Semiconductor Bear 3x Shares

The SOXS ETF inversely tracks the PHLX Semiconductor Index featured on the list of levered/ inverse ETFs with ~9%+ returns in the last week, due to growing investor caution and concerns about stretched valuations in AI-linked stocks, sparked by a sharp drop in Broadcom’s stock after margin pressure warnings, leading to broader tech sell-offs.

For more news, information, and analysis, visit the Leveraged & Inverse Content Hub.

, /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, PLLP is investigating whether Soleno Therapeutics, Inc. (NASDAQ: SLNO) or certain of its officers and directors violated federal securities laws by making false or misleading statements and/or failing to disclose material information to investors.

The investigation also examines whether Soleno's public communications accurately reflected the commercial progress and safety profile of VYKAT™ XR following its regulatory approval.

In September 2025, after the FDA cleared VYKAT™ XR, Soleno highlighted to investors that the product rollout was performing strongly and surpassing internal expectations.

However, on Soleno's November 4, 2025 third-quarter earnings call, the company discussed challenges that emerged during the launch period, noting a slowdown in new treatment initiations and an uptick in therapy discontinuations tied to non-serious adverse events. Management also acknowledged that the launch trajectory had been affected by external commentary published earlier in the year.

On August 15, 2025, short seller Scorpion Capital issued a report raising a number of concerns about VYKAT™ XR and Soleno's commercialization plans. Among other assertions, the report questioned the safety profile of the drug, the sustainability of demand, and the concentration of early prescribing activity. Scorpion further criticized Soleno's business model as being highly reliant on a single product with intellectual property protection expected to mature in the near term. The report additionally suggested that certain clinical research associated with the product warranted further scrutiny.

Following the release of the Scorpion report on August 15, 2025, Soleno's stock price experienced significant volatility. Between August 14, 2025 and November 5, 2025, the Company's share price declined by nearly 40%.

What if I purchased Soleno securities?
If you purchased SLNO securities and suffered losses, join our investigation now:
https://www.johnsonfistel.com/investigations/soleno-therapeutics-inc/

For more information, contact Jim Baker at [email protected] or (619) 814-4471. There is no cost or obligation to you.

About Johnson Fistel, PLLP | Top Law Firm, Securities Fraud, Investors Rights
Johnson Fistel, PLLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, Idaho, and Colorado. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. We also extend our services to foreign investors who purchased on U.S. exchanges. For more information, please visit http://www.johnsonfistel.com.

Achievements
In 2024, Johnson Fistel was honored to be ranked among the Top 10 Plaintiff Law Firms by the ISS Securities Class Action Services. The firm recovered approximately $90,725,000 for investors in cases where it served as lead or co-lead counsel. This marks the eighth time the firm has been recognized among the top securities law firms in the United States.

Attorney advertising.
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Johnson Fistel, PLLP has paid for the dissemination of this promotional communication, and Frank J. Johnson is the attorney responsible for its content.

Contact:
Johnson Fistel, PLLP
501 W. Broadway, Suite 800, San Diego, CA 92101
James Baker, Investor Relations or Frank J. Johnson, Esq.
(619) 814-4471
[email protected] or [email protected]

SOURCE Johnson Fistel, PLLP

The AI boom continues unabated, and some of the biggest beneficiaries are emerging from unexpected corners of the market. With hyperscalers projected to spend more than $500 billion on capex in 2026, most investors focus on GPUs, but building out next-generation data centers requires far more than compute. One of the most critical components is cooling, a necessity as AI workloads push thermal and power limits to extremes.

Comfort Systems ((FIX - Free Report) ), a national provider of ventilation, air conditioning, and heating installation and maintenance, has quietly become one of the most surprising winners of the AI infrastructure cycle. The company was already a long-term compounder, outperforming many tech stocks over the last two decades, but AI driven data center demand has meaningfully accelerated its trajectory.

Long-term annual sales growth in the low teens has now sped up alongside the AI buildout, and profits have followed. Zacks has highlighted these steady upward earnings revisions for months, and they continue to support the stock’s Zacks Rank #1 (Strong Buy).

FIX stands out as an example of a business that executes at a consistently high level and then benefits disproportionately when a major secular trend aligns with its strengths. With shares showing signs of another potential breakout, the technical setup below suggests this trend may be far from over.

Image Source: Zacks Investment Research

EMCOR Group and Quanta Services: Two More Unexpected AI StocksEMCOR Group ((EME - Free Report) ) and Quanta Services ((PWR - Free Report) ) are two more industrial names benefiting from the AI infrastructure boom. Though neither is viewed as a traditional AI stock, both play critical roles in building out the electrical, mechanical, and power systems that modern data centers require. As hyperscalers accelerate construction, demand for their specialized contracting capabilities has strengthened.

Both EME and PWR were already strong long-term operators, and their positioning within essential infrastructure has helped their shares outperform the market considerably over the past two years. While each carries a Zacks Rank #3 (Hold), less compelling than FIX’s Rank #1, their stock performance reflects durable demand and disciplined execution.

Together with Comfort Systems, these names highlight how unexpected winners continue to emerge from the AI buildout. Investors willing to look beyond the obvious chipmakers and software giants may uncover additional high-quality businesses riding this powerful secular trend.

Image Source: Zacks Investment Research

FIX Stock on the Verge of a BreakoutWith the AI boom expected to continue at a torrid pace, there’s little indication that FIX’s long-term uptrend is losing momentum. Today’s price action suggests the stock may be nearing another breakout.

The chart shows a tightening consolidation over the past two months, a pattern that often precedes sharp moves. A sustained trade and close above $1,028 would mark a clear technical breakout and potentially open the door to another leg higher. On the downside, if AI sentiment cools, even temporarily, the stock could cool off. A break below the ~$960 level of support could imply further potential weakness and it may be best to wait for the next clean setup before re-engaging.

Image Source: TradingView

Watch for More Unexpected Winning Stocks to EmergeThe AI buildout is still in its early innings, and the companies poised to benefit won’t always fit the typical tech narrative. Comfort Systems, EMCOR Systems, and Quanta Services show that operational excellence and strategic positioning within the physical infrastructure of AI can create powerful tailwinds. As spending on data centers accelerates, more overlooked names are likely to surface as winners. Investors who dig beyond the obvious may find some of the most compelling opportunities of the next phase of the AI cycle.

CIFR is up 297% in six months as it pivots from bitcoin mining to hyperscaler-backed AI infrastructure with long-term contracts.

Duluth Holdings Inc. (DLTH) Q3 2026 Earnings Call December 16, 2025 9:30 AM EST

Company Participants

Chris Steffes
Stephanie Pugliese - President, CEO & Director
Heena Agrawal - Interim Chief Accounting Officer, Senior VP & CFO

Conference Call Participants

Jonathan Komp - Robert W. Baird & Co. Incorporated, Research Division
Marcus Belanger - William Blair & Company L.L.C., Research Division

Presentation

Operator

Good morning, and welcome to the Duluth Holdings Third Quarter Financial Results Conference Call. [Operator Instructions] Please note this event is being recorded. I would now like to turn the conference over to Chris Steffes with Duluth Investor Relations. Please go ahead.

Chris Steffes

Thank you, and welcome to today's call to discuss Duluth Trading's third quarter financial results. Our earnings release, which was issued this morning, is available on our Investor Relations website at ir.duluthtrading.com under News Releases.

I am here today with Stephanie Pugliese, President and Chief Executive Officer; and Heena Agrawal, Senior Vice President and Chief Financial Officer. On today's call, management will provide prepared remarks and then open the call for questions.

Before we begin, I would like to remind you that the comments on today's call will include forward-looking statements, which can be identified by the use of words such as estimate, anticipate, expect and similar phrases. Forward-looking statements, by their nature, involve estimates, projections, goals, forecasts and assumptions and are subject to risks and uncertainties that could cause actual results or outcomes to differ materially from those expressed in the forward-looking statements. Such risks and uncertainties include, but are not limited to, those that are described in our most recent annual report on Form 10-K and other SEC filings as applicable. These forward-looking statements speak only as of the date of this conference call and should not be relied upon as predictions of future events.

Analyst’s Disclosure:I/we have a beneficial long position in the shares of LBRDP, BGAOY, TV either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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

When it comes to Tuesday's economic prints, Jessica Inskip (@jessicainskip) says the labor picture gives the Fed more leeway for interest rate cuts in 2026. It's something she takes into consideration for her Big 3 picks.

About Emily Jarvie
Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, The Canberra Times, and... Read more

About the publisher
Proactive financial news and online broadcast teams provide fast, accessible, informative and actionable business and finance news content to a global investment audience. All our content is produced independently by our experienced and qualified teams of news journalists.

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Key Takeaways Target's Fun 101 repositions Hardlines as fun-forward, culture-driven destinations.TGT delivered nearly 10% toy comp growth and double-digit gains in music and games.Target uses AI trend tools to speed assortments and scale Fun 101 nationwide.
Target Corporation’s (TGT - Free Report) fun-forward Hardlines transformation is emerging as one of the company’s most effective discretionary growth levers, repositioning a historically functional category into a culturally relevant traffic driver. Rebranded as Fun 101, the strategy focuses on toys, gaming, music, collectibles and sporting goods, infusing these categories with trend-led design, pop culture relevance and exclusive assortments to reignite guest excitement.

Management has emphasized that Fun 101 is not simply a reset but a structural reinvention of Hardlines. The strategy prioritizes “only-at-Target” differentiation, faster trend response and stronger storytelling, allowing Target to compete on inspiration rather than price alone. By treating Hardlines as entertainment and lifestyle destinations, the company is strengthening its merchandising authority in categories where emotional engagement drives purchase behavior.

Performance data validates the approach. In the third quarter of fiscal 2025, Fun 101 delivered another quarter of growth, led by nearly 10% comparable sales growth in toys and double-digit increases in music and video games. These gains stood out against broader discretionary softness, confirming Fun 101 as one of the few consistent growth engines within Target’s non-essential portfolio.

Technology is accelerating execution. AI-enabled tools, including real-time trend analytics and the internal “Target Trend Brain,” help merchants track cultural moments, social media trends and emerging consumer interests. This allows teams to react faster, shorten product cycles and continually refresh assortments to maintain relevance.

Looking ahead, Target plans to expand Fun 101 through additional in-store transformations and broader national scaling. With further investments planned for 2026, management views Fun 101 as a long-term category winner — one that blends creativity, speed and cultural insight to drive traffic, differentiation and profitable growth as discretionary demand recovers.

WMT & BBY’s Digital Strategy as TGT Expands AI InitiativeWalmart Inc. (WMT - Free Report) advanced its Digital initiatives to deliver more personalized, multi-modal and contextual app experiences in the third quarter of fiscal 2026. Walmart is also using AI to improve software development, where more than 40% of new code is now AI-generated or AI-assisted, and to help associates build skills through OpenAI certifications and ChatGPT Enterprise access. Moreover, Walmart is leveraging a partnership with OpenAI so customers can purchase items directly through ChatGPT, making shopping more seamless and connected across channels.

Best Buy Co., Inc. (BBY - Free Report) advanced its digital initiatives in the third quarter of fiscal 2026 by driving app use, expanding personalization and improving online experiences, including enhanced TV shopping and faster delivery options. The company also strengthened its new online marketplace with over 1,000 sellers and 11X more SKUs, while Best Buy continued boosting fulfillment efficiency and return convenience to elevate the omnichannel journey. These enhancements reinforced Best Buy’s position as a leading tech-focused omnichannel retailer.

Target’s Price Performance, Valuation & EstimatesTGT stock has gained 2.7% in the past six months compared with the industry’s growth of 3.1%. 

Image Source: Zacks Investment Research

Target’s forward 12-month price-to-earnings ratio of 12.71 reflects a lower valuation than the industry’s average of 29.83. TGT has a Value Score of D.

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for TGT’s fiscal 2025 earnings implies a year-over-year decline of 17.7%, while the same for fiscal 2026 indicates growth of 6%. Earnings estimates for fiscal 2025 and 2026 have gone southbound by 8 cents and 30 cents per share, respectively, in the past 30 days.

Image Source: Zacks Investment Research

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

Key Takeaways KMB posted a seventh straight quarter of volume-plus-mix growth in Q3 2025.Kimberly-Clark has sharply expanded its premium mix in North America and China.KMB balances premium gains with stronger value tiers and selective promotions.
Kimberly-Clark Corporation's (KMB - Free Report) third-quarter 2025 performance suggests that premiumization can continue to support growth ahead of generally modest category trends. Management reported a seventh consecutive quarter of volume-plus-mix-led growth, highlighting the company’s ability to outperform categories that remain pressured by muted demand and demographic headwinds.

This premiumization strategy is already delivering measurable results across key markets. In North America, premium products have increased from about 40% of the business a decade ago to just under 70% today, reflecting sustained consumer trade-up. In China, the shift has been even more pronounced, with premium mix rising from roughly 6% five years ago to well over 40%, underscoring premiumization as a core, scalable growth strategy for Kimberly-Clark.

Importantly, the company is pairing premium growth with strengthened value offerings. Innovations are being cascaded into mainstream tiers, improving softness, comfort and protection while preserving affordability. This balanced architecture allows KMB to defend volumes among value-seeking consumers while still driving positive mix, even amid increased private-label and promotional pressure.

Channel dynamics further support the strategy. Management noted strong growth in e-commerce and club channels, where KMB’s premium mix and share are higher than in traditional retail. Promotions are being used selectively to drive trials of innovation, rather than to fuel price wars, helping protect brand equity and long-term profitability.

Overall, Kimberly-Clark’s results suggest that premiumization, when combined with disciplined value offerings and channel execution, can enable it to grow at or ahead of category trends. The company’s consistent volume-plus-mix performance indicates that premium-led growth remains a durable competitive advantage rather than a short-term tailwind.

Kimberly-Clark’s Price Performance, Valuation & EstimatesKMB, which competes with Procter & Gamble (PG - Free Report) and Albertsons Companies (ACI - Free Report) , has seen its shares decline 20.2% in the past six months compared with the industry’s fall of 11.9%. Also, shares of Procter & Gamble and Albertsons Companies have lost 8.4% and 18.1%, respectively, in the aforementioned period.

Image Source: Zacks Investment Research

Kimberly-Clark’s forward 12-month price-to-earnings ratio of 14.56 reflects a lower valuation than the industry’s average of 17.98. KMB has a Value Score of C. KMB is trading at a discount to Procter & Gamble (with a forward 12-month P/E ratio of 20.20) and at a premium to Albertsons Companies (7.80).

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for KMB’s 2025 earnings implies a year-over-year decline of 16.4%, while the same for 2026 indicates growth of 16.4%. Earnings estimates for 2025 have been southbound by 12 cents per share, while the same for 2026 have been northbound by 5 cents in the past 30 days.

Image Source: Zacks Investment Research

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

Serica Energy plc (SQZZF) Shareholder/Analyst Call December 16, 2025 5:00 AM EST

Company Participants

Christopher Cox - CEO & Director
Martin Copeland - CFO & Director
Andrew Benbow

Presentation

Operator

Good morning, and welcome to the Serica Energy plc acquisition of Portfolio Assets in the North Sea Investor Presentation. [Operator Instructions] Before we begin, I'd like to submit the following poll. I'd now like to hand you over to CEO, Chris Cox. Good morning to you, sir.

Christopher Cox
CEO & Director

Thank you. Good morning, and welcome. I'm joined as usual by Martin Copeland, our CFO; and Andrew Benbow, our Head of Investor Relations. And we're here to bring you some festive cheer today as we describe what is a great deal for our shareholders. Martin and I will run through a short presentation and then take questions. So please submit questions as we go along, and we will answer as many as we can.

The deal we've announced this morning is positive for Serica for a number of reasons. And those who listen to our presentation when announcing the Prax acquisition may hear some repetition today. If it is repetitive, it's because we are seeking to deliver on our strategy in a consistent manner. And this deal is very much in line with that strategy. It increases our reserves, further diversifies our portfolio and delivers material tax-efficient cash generation at an attractive valuation.

Inclusive of the Prax Upstream and associated transactions, we are set to increase our reserves by more than 1/4 and add materially to our production. And the production we're adding is from high-quality, high uptime assets that will improve our production stability and the reliability of our cash flows. This deal also brings us further optionality when it comes to our organic growth projects. Of course, we now know that the budget

Intel Corp (NASDAQ:INTC, XETRA:INL) has added former Trump administration official Robin Colwell as senior vice president of government affairs.

The move is part of broader leadership changes in marketing and communications, and advanced technology strategy, aimed at strengthening Intel’s relationships with customers, governments, and global stakeholders.

In a statement, Intel said that Colwell will lead the company’s global engagement with policymakers, regulators, and industry leaders, focusing on building trust and aligning Intel’s initiatives at the intersection of public policy, technology, and manufacturing. Colwell will be based in Washington, DC.

Colwell’s previous roles include deputy assistant to US President Trump and deputy director of the National Economic Council

“Robin’s broad experience and deep understanding of complex legal and policy environments will be invaluable to Intel,” CEO Lip-Bu Tan said. “She has a rare ability to navigate dynamic policy environments and deliver outcomes that benefit businesses, policymakers, and the communities they serve.”

Colwell will collaborate with James Chew, Intel’s vice president of Government Technologies, who brings expertise in government contracting and advanced technology markets. Together, they are expected to enhance Intel’s relations with the U.S. government—a relationship that has grown increasingly significant for the company.

Wedbush analysts said the hire “is likely to ingratiate the company with the administration,” reflecting the growing importance of government relations to Intel’s near-term story.

At the same time, they stressed that Intel’s longer-term success ultimately hinges on its ability to restore competitiveness in chip manufacturing and improve chip design. “While government relations may influence the near-term narrative for Intel’s stock, the company’s ultimate performance will hinge on its ability to execute in manufacturing and technology development,” Wedbush noted.

Hungary's state-owned MVM group has signed a 5-year deal with U.S. energy company Chevron for the supply of 2 billion cubic metres of liquefied natural gas, the Hungarian foreign minister said on Tuesday.

Gitlab Inc   (NASDAQ:GTLB) stock is down 1.1% to trade at $38.19 at last glance, after suffering a downgrade from KeyBanc to "sector weight" from "overweight.

, /PRNewswire/ -- Shareholders Foundation, Inc. announced that a lawsuit is pending for certain investors in Neogen Corporation (NASDAQ: NEOG) shares.

Investors who purchased shares of Neogen Corporation prior to January 2023 and continue to hold any of thoseNASDAQ: NEOG shares also have certain options and contact the Shareholders Foundation at [email protected] or call +1(858) 779 - 1554.

On July 18, 2025, aNASDAQ:NEOG investor filed a lawsuit over alleged securities laws violations by Neogen Corporation. The plaintiff alleged that the defendants misrepresented the status of the 3M integration and failed to disclose the negative impact of integration issues on the financial health of Neogen, that the defendants issued a series of materially false and misleading statements which led investors to believe that the integration was progressing smoothly, and that the defendants downplayed integration "inefficiencies" and assured investors that they were fully aware and committed to resolving the issues quickly.

Those who purchased shares of Neogen Corporation (NASDAQ: NEOG) should contact the Shareholders Foundation, Inc.

CONTACT:
Shareholders Foundation, Inc. 
Michael Daniels 
+1 (858) 779-1554 
[email protected] 
3111 Camino Del Rio North 
Suite 423 
San Diego, CA 92108

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.

SOURCE Shareholders Foundation, Inc.

Ford CEO Jim Farley walked through Ford's Michigan design studio Monday afternoon, reflecting on how he was about to wipe out thousands of work hours on electric vehicles that he and his team had hoped would revolutionize the American auto industry.

HomeStock IdeasLong IdeasConsumer 

SummaryIt's time to upgrade Amazon (AMZN) to a Buy as the risk/reward shifts favorably in favor of the e-commerce and cloud computing behemoth.AWS remains Amazon's profit engine, delivering 36% margins and over 57% of corporate operating profits, underpinning valuation support.AMZN is aggressively investing in AI, custom chips, and open-sourcing its software stack to defend its moat against rivals like Google, Microsoft, and Oracle.Disciplined capital allocation, and rising FCF margins (>8.5% expected by FY2027) position AMZN for upside at a 30x forward multiple.Doubts about its AI capabilities are understood, Amazon cloud infra leadership places it in pole position to optimize cost efficiencies for customers. hapabapa/iStock Editorial via Getty Images

Amazon Underwhelms, As Peers Outshined With AI Narrative A double digit decline since my last Amazon writeup (AMZN) sets the stage for some introspection for AMZN investors. What's going on for the Andy Jassy led company, as the stock posted

Analyst’s Disclosure:I/we have a beneficial long position in the shares of AMZN, MSFT, GOOGL either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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

NEW YORK, NY / ACCESS Newswire / December 16, 2025 / Most companies grow by drifting into adjacent markets. SMX (NASDAQ:SMX) never needed that playbook. The company built a molecular identity platform that operates above traditional industry lines, becoming the engine behind a new era of verifiable supply chain integrity.

Gold provenance, rare earth mineral traceability, ESG credibility, and digital-asset creation are not separate strategies. They are all outputs of the same technological core, a system that allows materials to retain identity through every transformation. When that capability exists, markets that once lived in isolation begin moving around the same center of gravity.

Four Markets, Four Supply Chain Target Opportunities

Gold is the clearest example of what changes when identity becomes permanent. The bullion trade has relied on paperwork for centuries, even though paperwork evaporates the moment metal is heated or reshaped. Bars cross borders, enter vaults, pass through refiners, and lose their history along the way. SMX closed that gap by giving gold a molecular passport that survives smelting, recasting, storage, and transport. Authenticity no longer comes from documents. It comes from the metal itself.

Rare earth minerals reveal a different side of the same transformation. These materials power clean energy, aerospace systems, robotics, and national defense, yet their supply chains remain some of the most opaque on Earth. Ores blend. Concentrates mix. Processing removes any visible signature of origin. SMX changes that. Rare earths can now carry identity from extraction to separation to alloy formation, giving governments, manufacturers, and critical-infrastructure providers verifiable lineage that survives every industrial stage.

Sustainability markets face their own version of the challenge. ESG frameworks require recovery data, lifecycle clarity, and proof of recycled content, which have historically depended on inference. SMX replaces that guesswork. Plastics, textiles, chemicals, and industrial materials can retain identity from origin through end-of-life, converting ESG from a documentation ritual into measurable truth, all powered by the same platform already reshaping gold and rare earths.

Identity Has No Boundaries

That shared foundation becomes even more visible when digital markets enter the picture. Digital-asset systems have spent years searching for reliable links to real-world performance. SMX built that bridge. The Plastic Cycle Token (PCT) converts authenticated material activity into digital signals that carry scientific integrity. Verification becomes digital value.

Across gold, rare earths, ESG, and digital assets, the bottleneck has always been the same: verification that survives transformation. SMX built the platform designed for that requirement.

The PCT makes the convergence unmistakable. Verified recovery becomes data. Data becomes a signal. That signal becomes a digital asset with a verifiable value-based anchor. And the same backbone that powers the PCT is the one authenticating metals, minerals, and materials. Gold reframes authenticity. Rare earths reframe provenance. ESG reframes circularity. Digital assets reframe value. SMX becomes the architecture that binds them into a single continuum.

These markets may appear unrelated, but their structural weaknesses overlap perfectly. Gold struggles with integrity after transformation. Rare earths struggle with origin clarity. ESG struggles with proving what happened between factory and recycler. Digital assets struggle with verification without distortion. SMX removes all four barriers with one cross-market identity system.

Where the Market Takes It From Here

This is why interest continues to expand. SMX is not telling separate stories. It is revealing one system that multiple industries now recognize as foundational. When materials hold their identity, assumptions fall away, and verification becomes routine instead of exceptional.

What that means in terms of value will not be defined by SMX. Markets determine fair value, and that process is now unfolding across the sectors converging around this technology. As each adopts the platform, the market recalibrates what this system represents.

SMX built the engine. The market is beginning to understand its reach...and will ultimately decide what that reach is worth.

About SMX

As global businesses face new and complex challenges relating to carbon neutrality and meeting new governmental and regional regulations and standards, SMX is able to offer players along the value chain access to its marking, tracking, measuring and digital platform technology to transition more successfully to a low-carbon economy.

Forward-Looking Statements

The information in this press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipate," "believe," "contemplate," "continue," "could," "estimate," "expect," "forecast," "intends," "may," "will," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements in this press release may include, for example: successful launch and implementation of SMX's joint projects with manufacturers and other supply chain participants of steel, rubber, plastic and other materials; changes in SMX's strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects and plans; SMX's ability to develop and launch new products and services, including its planned Plastic Cycle Token; SMX's ability to successfully and efficiently integrate future expansion plans and opportunities; SMX's ability to grow its business in a cost-effective manner; SMX's product development timeline and estimated research and development costs; the implementation, market acceptance and success of SMX's business model; developments and projections relating to SMX's competitors and industry; and SMX's approach and goals with respect to technology. These forward-looking statements are based on information available as of the date of this press release, and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing views as of any subsequent date, and no obligation is undertaken to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. As a result of a number of known and unknown risks and uncertainties, actual results or performance may be materially different from those expressed or implied by these forward-looking statements. Some factors that could cause actual results to differ include: the ability to maintain the listing of the Company's shares on Nasdaq; changes in applicable laws or regulations; the ability to implement business plans, forecasts, and other expectations, and identify and realize additional opportunities; the risk of downturns and the possibility of rapid change in the highly competitive industry in which SMX operates; the risk that SMX and its current and future collaborators are unable to successfully develop and commercialize SMX's products or services, or experience significant delays in doing so; the risk that the Company may never achieve or sustain profitability; the risk that the Company will need to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all; the risk that the Company experiences difficulties in managing its growth and expanding operations; the risk that third-party suppliers and manufacturers are not able to fully and timely meet their obligations; the risk that SMX is unable to secure or protect its intellectual property; the possibility that SMX may be adversely affected by other economic, business, and/or competitive factors; and other risks and uncertainties described in SMX's filings from time to time with the Securities and Exchange Commission.

EMAIL: [email protected]

SOURCE: SMX (Security Matters) Public Limited

iRobot, the parent company of Roomba, filed for Chapter 11 bankruptcy protection.

Justin Sullivan/Getty Images

2025-12-16T16:30:09.476Z

iRobot, the maker of the Roomba, filed for Chapter 11 bankruptcy after financial struggles.
A failed $1.4 billion Amazon acquisition contributed to iRobot's financial woes.
Here's how the pioneering robotics company ended up here.

iRobot, the maker of the Roomba robot vacuum cleaner, filed for Chapter 11 bankruptcy protection this week after years of mounting financial struggles and a failed $1.4 billion acquisition deal with Amazon.

The 35-year-old company once reigned supreme in the world of robotic vacuums, but its dominance waned amid rising competition from lower-cost rivals and weakening consumer demand.

Here's a look back at how this once mighty, pioneering robotics company arrived at this moment.

iRobot was founded by MIT roboticists

Colin Angle is one of the cofounders of iRobot.

Matthew J. Lee/The Boston Globe via Getty Images

iRobot was founded in 1990 by three roboticists from the Massachusetts Institute of Technology — Colin Angle, Helen Greiner, and Rodney Brooks — who had a "vision of making practical robots a reality," the company says on its website.

Before the Roomba, iRobot made robots for military use

iRobot used to make robots for military use.

Scott Nelson/Getty Images

iRobot focused on designing robots for space-related research and military use in its early years.

In 1998, the Massachusetts-based company won a contract from the Defense Advanced Research Projects Agency, known as DARPA, to build a tactical mobile robot. This led to the development of iRobot's PackBot, which was later used in search operations at Manhattan's Ground Zero following the 9/11 terrorist attacks.

The launch of the Roomba

An early model of the Roomba.

Douglas McFadd/Getty Images

In 2002, iRobot had its consumer breakthrough with its debut of the Roomba, its iconic self-cleaning disc-shaped vacuum.

Over the next two decades, the company went on to release dozens of Roomba models. It has sold over 50 million models globally since.

iRobot goes public

The Nasdaq stock exchange circa 2005

Ramin Talaie/Corbis via Getty Images

iRobot went public in November 2005 with its IPO priced at $24 per share. It began trading its shares on the Nasdaq under the ticker symbol IRBT.

By then, the company was well known for its robot vacuums, and by 2013, iRobot had sold over 10 million home cleaning robots.

The company hit its highest annual revenue in 2021

Colin Angle poses in the iRobot Bedford, MA office on January 22, 2020.

Boston Globe/Boston Globe via Getty Images

iRobot saw its annual revenue peak in 2021 at $1.56 billion, but sales have been falling ever since.

Sales dropped, in part, thanks to stiffer competition from Chinese rivals like Dreame, Roborock, and Ecovacs, as well as other brands such as Shark and Samsung.

The failed Amazon-iRobot deal

Matthias Balk/picture alliance via Getty Images

Amazon agreed to buy iRobot in 2022 for $61 per share in an all-cash transaction, but the deal collapsed two years later with the companies saying there was "no path to regulatory approval in the European Union."

The same day the companies announced that the proposed merger was scrapped in January 2024, iRobot cut 31% of its staff, and Angle, iRobot's cofounder and longtime CEO, also stepped down.

iRobot sounded the alarm about its business

Roombas in boxes on shelves

Joe Raedle/Getty Images

In a March 2025 earnings report, iRobot said there was "substantial doubt" about the company's ability to continue.

The company struggles to find a new buyer

Inside iRobot's Bedford, Mass., office

James Leynse/Corbis via Getty Images

iRobot attempted to find a new buyer after its deal with Amazon collapsed. In an October 2025 regulatory filing, it said the last remaining potential acquirer pulled out "following a lengthy period of exclusive negotiations."

The company warned that without fresh funding, it "may be forced to significantly curtail or cease operations and would likely seek bankruptcy protection."

iRobot files for bankruptcy

A bankruptcy petition next to a judge's gavel

Pakin Songmor/Getty Images

iRobot filed for Chapter 11 on December 14 and said the company would be acquired by its China-based primary contract manufacturer and lender, Picea Robotics, through a court-supervised process. Under the deal, iRobot would be taken private.

The company said it expects to continue to operate as normal and does not anticipate any disruption to its core operations, including its app and ongoing product support.

"The transaction will strengthen our financial position and will help deliver continuity for our consumers, customers, and partners," said iRobot CEO Gary Cohen.