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Flowserve Corporation Reports First Quarter 2026 Results

Flowserve Corporation Reports First Quarter 2026 Results

Flowserve Business System Delivers Strong Execution; Reaffirms Full-Year EPS Guidance

DALLAS–(BUSINESS WIRE)–
Flowserve Corporation (NYSE: FLS), a leading provider of flow control products and services for the global infrastructure markets, reported its financial results for the first quarter ended March 31, 2026.

Highlights:

  • First quarter bookings of $1.15 billion, including:

    • Over $110 million of nuclear bookings

    • $680 million of aftermarket bookings

  • First quarter operating margin of 11.2% decreased 30 basis points and adjusted1 operating margin2 of 15.1% expanded 230 basis points compared to the prior year period

  • First quarter reported EPS of $0.64 and adjusted EPS3 of $0.85

    • Reported and adjusted EPS include a $0.19 benefit from recoverable IEEPA tariffs, offset by a ($0.06) impact from a taxing authority matter in Latin America and a ($0.06) headwind related to ongoing conflict in the Middle East

  • Reaffirmed full-year 2026 adjusted EPS guidance3 of $4.00 to $4.20

  • Supported Middle East customers with their critical infrastructure needs while prioritizing employee safety

Management Commentary:

“Our consistent execution of the Flowserve Business System resulted in strong margin and earnings expansion in the first quarter,” said Scott Rowe, Flowserve’s President and Chief Executive Officer. “I am proud of our global team’s continued demonstration of discipline and resilience in a highly dynamic environment. As we navigate the effects of the Middle East conflict, our priority remains employee safety while supporting our customers to ensure mission-critical flow control assets continue to operate. “

Rowe continued, “Looking ahead to the balance of 2026, I am confident that our focus on operational excellence and consistent execution will enable us to successfully manage through the evolving environment and capitalize on near-term opportunities. The underlying fundamentals of our business and end markets are robust, and we continue to maintain a favorable outlook supported by global megatrends and confidence in our proven growth strategy. Together, these factors position us well to drive value creation for our shareholders while progressing toward our 2030 sales, earnings, and operating margin expansion targets.”

Key Figures (unaudited):

(dollars in millions, except per share)

Q1 2026

Q1 2025

 

Change

 

Original Equipment Bookings

$467.9

 

$537.8

 

(13.0%)

 

Aftermarket Bookings

 

$680.3

 

$688.6

 

(1.2%)

Total Bookings

$1,148.2

 

$1,226.4

 

(6.4%)

 

 

 

 

 

 

 

 

Organic Sales4

 

 

 

 

(10.5%)

Acquisition/Divestiture Impact

 

 

 

 

20 bps

Foreign Exchange Impact

 

 

 

 

360 bps

Reported Sales

 

$1,068.3

 

$1,144.5

 

(6.7%)

 

 

 

 

 

 

 

 

 

Operating Margin

 

11.2%

 

11.5%

 

(30 bps)

 

Adjusted Operating Margin

15.1%

 

12.8%

 

230 bps

Earnings Per Share (EPS)

 

$0.64

 

$0.56

 

14.3%

 

Adjusted Earnings Per Share (EPS)

$0.85

 

$0.72

 

18.1%

Cash From Operations

 

($43.1)

 

($49.9)

 

$6.8

 

Backlog

 

$2,945.9

 

$2,902.9

 

1.5%

2026 Guidance3:

The Company updated 2026 guidance:

 

 

Prior

 

Current

 

 

Organic Sales Growth

 

+1% to +3%

 

(1%) to +2%

 

 

Impact From Acquisition/Divestiture

 

Approx. +300 bps

 

Approx. +300 bps

 

 

Impact From Foreign Exchange Translation

 

Approx. +100 bps

 

Approx. +100 bps

 

 

Total Sales Growth

 

+5% to +7%

 

+3% to +6%

 

 

Adjusted EPS

 

$4.00 to $4.20

 

$4.00 to $4.20

 

 

Net Interest Expense

 

Approx. $80 million

 

Approx. $85 million

 

 

Adjusted Tax Rate

 

21% to 22%

 

21% to 22%

 

 

Capital Expenditures

 

$90 million to $100 million

 

$90 million to $100 million

 

 

Full-year 2026 guidance assumes the acquisition of Trillium Flow Technologies’ Valves Division closes mid-year 2026 and, including incremental interest expense related to financing the acquisition, the acquisition will be roughly neutral to 2026 adjusted EPS. The guidance also assumes tariff rates in place as of April 2026.

Webcast and Conference Call Instructions:

Flowserve will host its conference call to discuss first quarter results on Thursday, April 30, 2026, at 10:00 a.m. Eastern Time. The call can be accessed by shareholders and other interested parties on Flowserve’s Investors page.

Footnotes

1 See Consolidated Reconciliation of Non-GAAP Financial Measures to the Most Directly Comparable GAAP Financial Measure (unaudited) and Segment Reconciliation of Non-GAAP Financial Measures to the Most Directly Comparable GAAP Financial Measure (unaudited) tables for a detailed reconciliation of reported results to adjusted measures.

2 Adjusted operating margin is calculated by dividing adjusted operating income by sales. Adjusted operating income is derived by excluding the adjusted items.

3 Adjusted earnings per share (EPS) excludes realignment expenses, the impact from other specific discrete and below-the-line foreign currency effects and utilizes the then-applicable FX rates and fully diluted shares. Adjusted full-year 2026 EPS guidance excludes certain other discrete items which may arise during the year.

4 Organic is defined as the change in sales, as defined by U.S. GAAP, excluding the impacts of currency translation and acquisitions and divestitures. The impact of currency translation is calculated by translating current year results on a monthly basis at prior year exchange rates for the same period.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

 

Three Months Ended March 31,

(Amounts in thousands, except per share data)

 

2026

 

 

 

2025

 

 

Sales

$

1,068,269

 

$

1,144,543

 

Cost of sales

 

(688,428

)

 

(775,209

)

Gross profit

 

379,841

 

 

369,334

 

Selling, general and administrative expense

 

(263,400

)

 

(243,177

)

Net earnings from affiliates

 

2,991

 

 

5,732

 

Operating income

 

119,432

 

 

131,889

 

Interest expense

 

(20,431

)

 

(19,175

)

Interest income

 

1,500

 

 

1,745

 

Other income (expense), net

 

6,999

 

 

(17,259

)

Earnings before income taxes

 

107,500

 

 

97,200

 

Provision for income taxes

 

(21,131

)

 

(17,743

)

Net earnings, including noncontrolling interests

 

86,369

 

 

79,457

 

Less: Net earnings attributable to noncontrolling interests

 

(4,688

)

 

(5,552

)

Net earnings attributable to Flowserve Corporation

$

81,681

 

$

73,905

 

 

Net earnings per share attributable to Flowserve Corporation common shareholders:

 

Basic

$

0.64

 

$

0.56

 

Diluted

 

0.64

 

 

0.56

 

 

Weighted average shares – basic

 

127,493

 

 

131,566

 

Weighted average shares – diluted

 

128,620

 

 

132,670

 

Consolidated Reconciliation of Non-GAAP Financial Measures to the Most Directly Comparable GAAP Financial Measure (Unaudited)

(Amounts in thousands, except per share data)
 

Three Months Ended March 31, 2026

Gross Profit

Selling, General & Administrative Expense

Operating Income

Other Income (Expense), Net

Provision For (Benefit From) Income Taxes

Net Earnings (Loss)

Effective Tax Rate

Diluted EPS

Reported

$

379,841

 

$

263,400

 

$

119,432

 

$

6,999

 

$

21,131

 

$

81,681

 

19.7

%

0.64

 

Reported as a percent of sales

 

35.6

%

 

24.7

%

 

11.2

%

 

0.7

%

 

2.0

%

 

7.6

%

Realignment charges (a)

 

16,502

 

 

(12,465

)

 

28,967

 

 

–

 

 

4,443

 

 

24,524

 

15.3

%

0.19

 

Acquisition and divestiture related (b)(c)

 

–

 

 

(8,588

)

 

8,588

 

 

–

 

 

2,150

 

 

6,438

 

25.0

%

0.05

 

Purchase accounting step-up and intangible asset amortization (d)

 

1,013

 

 

(2,245

)

 

3,258

 

 

–

 

 

523

 

 

2,735

 

16.1

%

0.02

 

Discrete items (e)(f)(g)

 

31

 

 

(674

)

 

705

 

 

1,500

 

 

519

 

 

1,686

 

23.5

%

0.01

 

Below-the-line foreign exchange impacts (h)

 

–

 

 

–

 

 

–

 

 

(9,038

)

 

(1,601

)

 

(7,437

)

17.7

%

(0.06

)

Adjusted

$

397,387

 

$

239,428

 

$

160,950

 

$

(539

)

$

27,165

 

$

109,627

 

19.2

%

0.85

 

Adjusted as a percent of sales

 

37.2

%

 

22.4

%

 

15.1

%

 

-0.1

%

 

2.5

%

 

10.3

%
 

Note: Amounts may not calculate due to rounding

(a) Charges represent realignment costs incurred as a result of realignment programs, net of a $5,300 gain associated with a sale-leaseback transaction related to a FCD facility closure.

(b) Charge represents $7,791 of acquisition and integration related costs associated with the Greenray and Trillium Valves acquisitions.

(c) Charge represents $797 of costs associated with other strategic acquisition and divestiture activities.

(d) Charge represents amortization of acquisition related intangible assets associated with the MOGAS and Greenray acquisitions.

(e) Charge represents $277 of non-cash share-based compensation expense associated with a one-time discretionary restricted stock grant, subject to three-year cliff vesting, provided to certain employees in conjunction with the freeze of our US Qualified pension plan.

(f) Charge includes $1,500 for a non-cash pension settlement accounting loss incurred in conjunction with the freeze of our US Qualified pension plan.

(g) Charge represents $428 of transaction costs related to the divestiture of our asbestos-related assets and liabilities.

(h) Below-the-line foreign exchange impacts represent the remeasurement of foreign exchange derivative contracts as well as the remeasurement of assets and liabilities that are denominated in a currency other than a site’s respective functional currency.
 
 

Three Months Ended March 31, 2025

Gross Profit

Selling, General & Administrative Expense

Operating Income

Other Income (Expense), Net

Provision For (Benefit From) Income Taxes

Net Earnings (Loss)

Effective Tax Rate

Diluted EPS

Reported

$

369,334

 

$

243,177

 

$

131,889

 

$

(17,259

)

$

17,743

 

$

73,905

 

18.3

%

0.56

 

Reported as a percent of sales

 

32.3

%

 

21.2

%

 

11.5

%

 

-1.5

%

 

1.6

%

 

6.5

%

Realignment charges (a)

 

10,015

 

 

1,304

 

 

8,711

 

 

–

 

 

1,871

 

 

6,840

 

21.5

%

0.05

 

Acquisition related (b)

 

–

 

 

(1,281

)

 

1,281

 

 

–

 

 

301

 

 

980

 

23.5

%

0.01

 

Purchase accounting step-up and intangible asset amortization (c)

 

3,475

 

 

(1,300

)

 

4,775

 

 

–

 

 

1,361

 

 

3,414

 

28.5

%

0.03

 

Discrete items (d)(e)

 

33

 

 

(383

)

 

416

 

 

1,500

 

 

451

 

 

1,465

 

23.5

%

0.01

 

Below-the-line foreign exchange impacts (f)

 

–

 

 

–

 

 

–

 

 

11,373

 

 

2,445

 

 

8,928

 

21.5

%

0.07

 

Adjusted

$

382,857

 

$

241,517

 

$

147,072

 

$

(4,386

)

$

24,172

 

$

95,532

 

19.3

%

0.72

 

Adjusted as a percent of sales

 

33.5

%

 

21.1

%

 

12.8

%

 

-0.4

%

 

2.1

%

 

8.3

%
 

Note: Amounts may not calculate due to rounding

(a) Charges represent realignment costs incurred as a result of realignment programs of which $1,500 is non-cash.

(b) Charge represents acquisition and integration related costs associated with the MOGAS acquisition.

(c) Charge represents amortization of step-up in value of acquired inventories and acquisition related intangible assets associated with the MOGAS acquisition.

(d) Charge represents $416 of non-cash share-based compensation expense associated with a one-time discretionary restricted stock grant, subject to three-year cliff vesting, provided to certain employees in conjunction with the freeze of our US Qualified pension plan.

(e) Charge includes $1,500 for a non-cash pension settlement accounting loss incurred in conjunction with the freeze of our US Qualified pension plan.

(f) Below-the-line foreign exchange impacts represent the remeasurement of foreign exchange derivative contracts as well as the remeasurement of assets and liabilities that are denominated in a currency other than a site’s respective functional currency.

SEGMENT INFORMATION

(Unaudited)

 

FLOWSERVE PUMPS DIVISION

Three Months Ended March 31,

(Amounts in millions, except percentages)

 

2026

 

 

2025

 

Bookings

$

773.9

 

$

852.9

 

Sales

 

744.5

 

 

783.1

 

Gross profit

 

269.9

 

 

268.5

 

Gross profit margin

 

36.3

%

 

34.3

%

SG&A

 

147.2

 

 

137.7

 

Segment operating income

 

125.8

 

 

136.5

 

Segment operating income as a percentage of sales

 

16.9

%

 

17.4

%

 

FLOW CONTROL DIVISION

Three Months Ended March 31,

(Amounts in millions, except percentages)

 

2026

 

 

2025

 

Bookings

$

374.2

 

$

376.0

 

Sales

 

327.6

 

 

364.1

 

Gross profit

 

108.9

 

 

100.2

 

Gross profit margin

 

33.3

%

 

27.5

%

SG&A

 

67.2

 

 

68.7

 

Segment operating income

 

41.7

 

 

31.5

 

Segment operating income as a percentage of sales

 

12.7

%

 

8.6

%

Segment Reconciliation of Non-GAAP Financial Measures to the Most Directly Comparable GAAP Financial Measure (Unaudited)

(Amounts in thousands)

 

Flowserve Pumps Division

 

Three Months Ended March 31, 2026

Gross Profit

Selling, General & Administrative Expense

Operating Income

Three Months Ended March 31, 2025

Gross Profit

Selling, General & Administrative Expense

Operating Income

Reported

$

269,927

 

$

147,168

 

$

125,751

 

Reported

$

268,462

 

$

137,680

 

$

136,515

 

 

Reported as a percent of sales

 

36.3

%

 

19.8

%

 

16.9

%

Reported as a percent of sales

 

34.3

%

 

17.6

%

 

17.4

%

 

Realignment charges (a)

 

10,088

 

 

(4,141

)

 

14,229

 

Realignment charges (a)

 

2,979

 

 

998

 

 

1,981

 

 

Discrete items (b)

 

24

 

 

(48

)

 

72

 

Discrete items (b)

 

28

 

 

(125

)

 

153

 

 

Acquisition related (c)

 

–

 

 

(39

)

 

39

 

Adjusted

$

271,469

 

$

138,553

 

$

138,649

 

 

Purchase accounting step-up and intangible asset amortization (d)

 

1,013

 

 

(945

)

 

1,958

 

Adjusted as a percent of sales

 

34.7

%

 

17.7

%

 

17.7

%

 

Adjusted

$

281,052

 

$

141,995

 

$

142,049

 

 

Adjusted as a percent of sales

 

37.7

%

 

19.1

%

 

19.1

%

 

 

Flow Control Division

 

Three Months Ended March 31, 2026

Gross Profit

Selling, General & Administrative Expense

Operating Income

Three Months Ended March 31, 2025

Gross Profit

Selling, General & Administrative Expense

Operating Income

 

Reported

$

108,947

 

$

67,231

 

$

41,716

 

Reported

$

100,187

 

$

68,705

 

$

31,482

 

 

Reported as a percent of sales

 

33.3

%

 

20.5

%

 

12.7

%

Reported as a percent of sales

 

27.5

%

 

18.9

%

 

8.6

%

 

Realignment charges (a)

 

6,414

 

 

5,021

 

 

1,393

 

Realignment charges (a)

 

7,102

 

 

121

 

 

6,981

 

 

Discrete items (b)

 

5

 

 

(55

)

 

60

 

Acquisition related (c)

 

–

 

 

(1,281

)

 

1,281

 

 

Acquisition related (c)

 

–

 

 

(7,738

)

 

7,738

 

Purchase accounting step-up and intangible asset amortization (d)

 

3,475

 

 

(1,300

)

 

4,775

 

 

Purchase accounting step-up and intangible asset amortization (d)

 

–

 

 

(1,300

)

 

1,300

 

Discrete items (b)

 

4

 

 

(64

)

 

68

 

 

Adjusted

$

115,366

 

$

63,159

 

$

52,207

 

Adjusted

$

110,768

 

$

66,181

 

$

44,587

 

 

Adjusted as a percent of sales

 

35.2

%

 

19.3

%

 

15.9

%

Adjusted as a percent of sales

 

30.4

%

 

18.2

%

 

12.2

%

 

 

 

Note: Amounts may not calculate due to rounding

Note: Amounts may not calculate due to rounding

 

(a) Charges represent realignment costs incurred as a result of realignment programs, net of a $5,300 gain associated with a sale-leaseback transaction related to a FCD facility closure.

(a) Charges represent realignment costs incurred as a result of realignment programs of which $1,500 is non-cash.

 

(b) Charge represents non-cash share-based compensation expense associated with a one-time discretionary restricted stock grant, subject to three-year cliff vesting, provided to certain employees in conjunction with the freeze of our US Qualified pension plan.

(b) Charge represents share-based compensation expense associated with a one-time discretionary restricted stock grant, subject to three-year cliff vesting, provided to certain employees in conjunction with the freeze of our US Qualified pension plan.

 

(c) Charge represents acquisition and integration related costs associated with the Greenray and Trillium Valves acquisitions within FPD and FCD, respectively.

(c) Charge represents acquisition and integration-related costs associated with the MOGAS acquisition.

 

(d) Charge represents amortization of acquisition related intangible assets associated with the Greenray and MOGAS acquisitions within FPD and FCD, respectively.

(d) Charge represents amortization of step-up in value of acquired inventories and acquisition related intangible assets associated with the MOGAS acquisition.

 
 

Segment Results

(Unaudited)
 

Flowserve Pumps Division
 

(dollars in millions)

Q1 2026

Q1 2025

Change

Organic Bookings

 

 

(13.6%)

Acquisition / Divestiture Impact

 

 

0.3%

FX Impact (a)

 

 

4.0%

Total Bookings (b)

$774

$853

(9.3%)

 

 

 

Organic Sales

 

 

(9.5%)

Acquisition / Divestiture Impact

 

 

0.3%

FX Impact (a)

 

 

4.3%

Reported Sales (b)

$745

$783

(4.9%)

 

 

 

Gross Margin

36.3%

34.3%

200 bps

Adjusted Gross Margin (c)

37.7%

34.7%

300 bps

Operating Margin

16.9%

17.4%

(50 bps)

Adjusted Operating Margin (d)

19.1%

17.7%

140 bps

Backlog (b)

$2,076

$2,019

2.8%

 

 

 

 

 

 

Flowserve Control Division

 

 

 

 

 

 

(dollars in millions)

Q1 2026

Q1 2025

Change

Organic Bookings

 

 

(2.9%)

Acquisition / Divestiture Impact

 

 

0.0%

FX Impact (a)

 

 

2.4%

Total Bookings (b)

$374

$376

(0.5%)

 

 

 

Organic Sales

 

 

(12.1%)

Acquisition / Divestiture Impact

 

 

0.0%

FX Impact (a)

 

 

2.1%

Reported Sales (b)

$328

$364

(10.0%)

 

 

 

Gross Margin

33.3%

27.5%

580 bps

Adjusted Gross Margin (c)

35.2%

30.4%

480 bps

Operating Margin

12.7%

8.6%

410 bps

Adjusted Operating Margin (d)

15.9%

12.2%

370 bps

Backlog (b)

$876

$889

(1.5%)
 

(a) Foreign exchange (FX) impact reflects a year-over-year change in foreign currency translation.

(b) Bookings, sales, and backlog do not include interdivision eliminations.

(c) Adjusted gross margin is a non‑GAAP financial measure. Adjusted gross margin is calculated by dividing adjusted gross profit by sales. Adjusted gross profit is derived by excluding realignment charges and other specific discrete items. See the Segment Reconciliation of Non‑GAAP Financial Measures to the Most Directly Comparable GAAP Financial Measure (unaudited).

(d) Adjusted operating margin excludes realignment charges and other specific discrete items.

CONDENSED CONSOLIDATED BALANCE SHEETS

 

(Unaudited)

 

March 31,

December 31,

(Amounts in thousands, except par value)

 

2026

 

 

2025

 

 

ASSETS

 

Current assets:

 

Cash and cash equivalents

$

792,354

 

$

760,183

 

Accounts receivable, net of allowance for expected credit losses of $84,394 and $83,094, respectively

 

958,985

 

 

1,029,095

 

Contract assets, net of allowance for expected credit losses of $6,331 and $6,028, respectively

 

357,487

 

 

322,472

 

Inventories

 

809,583

 

 

789,898

 

Prepaid expenses and other

 

136,204

 

 

141,237

 

Total current assets

 

3,054,613

 

 

3,042,885

 

Property, plant and equipment, net of accumulated depreciation of $1,219,307 and $1,224,912, respectively

 

559,223

 

 

566,751

 

Operating lease right-of-use assets, net

 

165,222

 

 

166,031

 

Goodwill

 

1,381,437

 

 

1,391,988

 

Deferred taxes

 

156,422

 

 

156,250

 

Other intangible assets, net

 

194,442

 

 

198,475

 

Other assets, net of allowance of expected credit losses of $66,091 and $66,047, respectively

 

221,801

 

 

185,820

 

Total assets

$

5,733,160

 

$

5,708,200

 

 

 

LIABILITIES AND EQUITY

 

 

Current liabilities:

 

 

Accounts payable

$

520,392

 

$

554,243

 

Accrued liabilities

 

499,611

 

 

587,475

 

Contract liabilities

 

269,165

 

 

274,669

 

Debt due within one year

 

52,972

 

 

49,868

 

Operating lease liabilities

 

35,466

 

 

35,630

 

Total current liabilities

 

1,377,606

 

 

1,501,885

 

Long-term debt due after one year

 

1,662,000

 

 

1,525,210

 

Operating lease liabilities

 

139,887

 

 

149,565

 

Retirement obligations and other liabilities

 

273,415

 

 

277,216

 

Shareholders’ equity:

 

 

Preferred shares, $1.00 par value

 

–

 

 

–

 

Shares authorized – 1,000, no shares issued

 

 

Common shares, $1.25 par value

 

220,991

 

 

220,991

 

Shares authorized – 305,000

 

 

Shares issued – 176,793 and 176,793, respectively

 

 

Capital in excess of par value

 

486,518

 

 

508,890

 

Retained earnings

 

4,315,243

 

 

4,261,977

 

Treasury shares, at cost – 49,215 and 49,763 shares, respectively

 

(2,218,764

)

 

(2,231,685

)

Deferred compensation obligation

 

6,676

 

 

6,629

 

Accumulated other comprehensive loss

 

(598,359

)

 

(575,405

)

Total Flowserve Corporation shareholders’ equity

 

2,212,305

 

 

2,191,397

 

Noncontrolling interests

 

67,947

 

 

62,927

 

Total equity

 

2,280,252

 

 

2,254,324

 

Total liabilities and equity

$

5,733,160

 

$

5,708,200

 

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

 

Three Months Ended March 31,

(Amounts in thousands)

 

2026

 

 

2025

 

 

Cash flows – Operating activities:

 

Net earnings, including noncontrolling interests

$

86,369

 

$

79,457

 

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

 

 

Depreciation

 

20,329

 

 

18,831

 

Amortization of intangible and other assets

 

3,731

 

 

5,571

 

Stock-based compensation

 

10,716

 

 

8,656

 

Foreign currency, asset write downs and other non-cash adjustments

 

(14,525

)

 

(7,350

)

Change in assets and liabilities:

Accounts receivable, net

 

63,517

 

 

(50,679

)

Inventories

 

(24,604

)

 

8,804

 

Contract assets, net

 

(38,454

)

 

(9,447

)

Prepaid expenses and other assets, net

 

(8,940

)

 

6,669

 

Accounts payable

 

(32,385

)

 

(16,861

)

Contract liabilities

 

(3,722

)

 

(3,648

)

Accrued liabilities

 

(110,074

)

 

(89,467

)

Retirement obligations and other liabilities

 

5,027

 

 

(5,448

)

Net deferred taxes

 

(65

)

 

4,978

 

Net cash flows (used) by operating activities

 

(43,080

)

 

(49,934

)

Cash flows – Investing activities:

 

Capital expenditures

 

(16,899

)

 

(11,738

)

Proceeds from disposal of assets

 

9,719

 

 

462

 

Net cash flows (used) by investing activities

 

(7,180

)

 

(11,276

)

Cash flows – Financing activities:

Payments on term loan

 

(9,375

)

 

(9,375

)

Proceeds under revolving credit facility

 

150,000

 

 

–

 

Proceeds under other financing arrangements

 

391

 

 

150

 

Payments under other financing arrangements

 

(2,610

)

 

(101

)

Repurchases of common shares

 

–

 

 

(21,088

)

Payments related to tax withholding for stock-based compensation

 

(22,635

)

 

(11,063

)

Payments of dividends

 

(26,722

)

 

(27,617

)

Contingent consideration payment related to acquired business

 

–

 

 

(15,000

)

Other

 

(529

)

 

(138

)

Net cash flows (used) provided by financing activities

 

88,520

 

 

(84,232

)

Effect of exchange rate changes on cash and cash equivalents

 

(6,089

)

 

10,805

 

Net change in cash and cash equivalents

 

32,171

 

 

(134,637

)

Cash and cash equivalents at beginning of period

 

760,183

 

 

675,441

 

Cash and cash equivalents at end of period

$

792,354

 

$

540,804

 

About Flowserve:

Flowserve Corporation is one of the world’s leading providers of fluid motion and control products and services. Operating in more than 50 countries, the Company produces engineered and industrial pumps, seals and valves as well as a range of related flow management services. More information about Flowserve can be obtained by visiting the Company’s website at www.flowserve.com.

Safe Harbor Statement: This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words or phrases such as, “may,” “should,” “expects,” “could,” “intends,” “plans,” “anticipates,” “estimates,” “believes,” “forecasts,” “predicts” or other similar expressions are intended to identify forward-looking statements, which include, without limitation, earnings forecasts, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments concerning our industry, business, operations and financial performance and condition.

The forward-looking statements included in this news release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in such forward-looking statements, and include, without limitation, the following: economic, political and other risks associated with our international operations, including military actions, trade embargoes, blockades or other closures of major trade lanes, epidemics or pandemics and changes to tariffs or trade agreements that could affect customer markets, particularly North African, Latin American, Asian and Middle Eastern markets and global oil and gas producers, and non-compliance with U.S. export/re-export control, foreign corrupt practice laws, economic sanctions and import laws and regulations; global supply chain disruptions and the current inflationary environment could adversely affect the efficiency of our manufacturing and increase the cost of providing our products to customers; a portion of our bookings may not lead to completed sales, and our ability to convert bookings into revenues at acceptable profit margins; changes in global economic conditions and the potential for unexpected cancellations or delays of customer orders in our reported backlog; our dependence on our customers’ ability to make required capital investment and maintenance expenditures; if we are not able to successfully execute and realize the expected financial benefits from any restructuring and realignment initiatives, our business could be adversely affected; the substantial dependence of our sales on the success of the energy, chemical, power generation and general industries; the adverse impact of volatile raw materials prices on our products and operating margins; the impact of public health emergencies, such as outbreaks of epidemics, pandemics, and contagious diseases, on our business and operations; increased aging and slower collection of receivables, particularly in Latin America and other emerging markets; potential adverse effects resulting from the implementation of new tariffs and related retaliatory actions and changes to or uncertainties related to tariffs and trade agreements; our exposure to fluctuations in foreign currency exchange rates, including in hyperinflationary countries such as Argentina; potential adverse consequences resulting from litigation to which we are a party; expectations regarding acquisitions and the integration of acquired businesses; the potential adverse impact of an impairment in the carrying value of goodwill or other intangible assets; our dependence upon third-party suppliers whose failure to perform timely could adversely affect our business operations; the highly competitive nature of the markets in which we operate; if we are not able to maintain our competitive position by successfully developing and introducing new products and integrate new technologies, including artificial intelligence and machine learning; environmental compliance costs and liabilities; potential work stoppages and other labor matters; access to public and private sources of debt financing; our inability to protect our intellectual property in the United States, as well as in foreign countries; obligations under our defined benefit pension plans; our internal control over financial reporting may not prevent or detect misstatements because of its inherent limitations, including the possibility of human error, the circumvention or overriding of controls, or fraud; the recording of increased deferred tax asset valuation allowances in the future or the impact of tax law changes on such deferred tax assets could affect our operating results; our information technology infrastructure could be subject to service interruptions, data corruption, cyber-based attacks or network security breaches, which could disrupt our business operations and result in the loss of critical and confidential information; ineffective internal controls could impact the accuracy and timely reporting of our business and financial results; and other factors described from time to time in our filings with the Securities and Exchange Commission.

All forward-looking statements included in this news release are based on information available to us on the date hereof, and we assume no obligation to update any forward-looking statement.

The Company reports its financial results in accordance with U.S. generally accepted accounting principles (GAAP). However, management believes that non-GAAP financial measures which exclude certain non-recurring items present additional useful comparisons between current results and results in prior operating periods, providing investors with a clearer view of the underlying trends of the business. Management also uses these non-GAAP financial measures in making financial, operating, planning and compensation decisions and in evaluating the Company’s performance. Non-GAAP financial measures, which may be inconsistent with similarly captioned measures presented by other companies, should be viewed in addition to, and not as a substitute for, the Company’s reported results prepared in accordance with GAAP.

Flowserve Contacts

Investor Contacts:

Brian Ezzell, Vice President, Investor Relations, Treasurer & Corporate Finance (469) 420-3222

Olivia Webb, Director, Investor Relations (469) 420-3223

Media Contact: [email protected]

KEYWORDS: Texas United States North America

INDUSTRY KEYWORDS: Other Manufacturing Steel Other Energy Engineering Utilities Chemicals/Plastics Oil/Gas Coal Manufacturing Energy

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Posted on

MaxCyte to Report First Quarter 2026 Financial Results on May 12, 2026

ROCKVILLE, Md., April 29, 2026 (GLOBE NEWSWIRE) — MaxCyte, Inc., (NASDAQ: MXCT), a leading, cell-engineering focused company providing enabling platform technologies to advance the discovery, development and commercialization of next-generation cell therapeutics, today announced that it will release financial results for the first quarter 2026 after the U.S. market close on Tuesday, May 12th, 2026. Company management will host a conference call to discuss financial results at 4:30 p.m. Eastern Time.

Earnings Conference Call Details

Investors interested in listening to the conference call are required to register online. It is recommended to register at least a day in advance. A live and archived webcast of the event will be available on the “Events” section of the MaxCyte website at https://investors.maxcyte.com/.

About MaxCyte

At MaxCyte®, we are committed to building better cells together. As a leading cell-engineering company, we are driving the discovery, development and commercialization of next-generation cell therapies. Our best-in-class Flow Electroporation® technology and SeQure™ gene editing characterization assessment services enable high-performance cell engineering and rigorous evaluation of editing outcomes, supporting confidence in therapeutic development. Supported by expert scientific, technical and regulatory guidance, our platform empowers researchers from around the world to engineer diverse cell types and payloads, accelerating the development of safe and effective treatments for human health. For more than 25 years, we’ve been advancing cell engineering, shaping the future of medicine. Learn more at maxcyte.com and follow us on LinkedIn.

Investor Relations


Gilmartin Group


David Deuchler, CFA
[email protected]

Media Relations


Oak Street Communications


Kristen White
+1 415-608-6060
[email protected]



Posted on

Ford Reports First-Quarter 2026 Financial Results

Ford Reports First-Quarter 2026 Financial Results

DEARBORN, Mich.–(BUSINESS WIRE)–
Ford Motor Company (NYSE: F) today announced its first-quarter 2026 financial results. Visit the company’s Investor Relations website at shareholder.ford.com to view the earnings release, earnings presentation and other supporting material.

At 5 p.m. ET, Ford and Ford Motor Credit Company management will hold a conference call to discuss these financial results. For the webcast, click here. Representatives of the investment community will be able to ask questions on the call.

The webcast will be available for replay for about one week following the call at this link.

About Ford Motor Company

Ford Motor Company (NYSE: F) is a global company based in Dearborn, Michigan, committed to helping build a better world, where every person is free to move and pursue their dreams. The company’s Ford+ plan for growth and value creation combines existing strengths, new capabilities, and always-on relationships with customers to enrich experiences for customers and deepen their loyalty. Ford develops and delivers innovative, must-have Ford trucks, sport utility vehicles, commercial vans and cars and Lincoln luxury vehicles, along with connected services, including BlueCruise (ADAS) and security. The company offers freedom of choice through three customer-centered business segments: Ford Blue, engineering iconic gas-powered and hybrid vehicles; Ford Model e, inventing breakthrough electric vehicles (“EVs”) along with embedded software that defines always-on digital experiences for all customers; and Ford Pro, helping commercial customers transform and expand their businesses with vehicles and services tailored to their needs. Additionally, the company provides financial services through Ford Motor Credit Company. Ford employs about 168,000 people worldwide. More information about the company and its products and services is available at corporate.ford.com.

For news releases, related materials and high-resolution photos and video, visit www.media.ford.com.

Media
David Tovar

1.773.682.7954

[email protected]

Equity Investment Community
Lynn Antipas Tyson

1.203.616.5689

[email protected]

Fixed Income Investment Community
Sean Moore

1.313.248.1587

[email protected]

Shareholder Inquiries
1.800.555.5259 or 1.313.845.8540

[email protected]

KEYWORDS: Michigan United States North America

INDUSTRY KEYWORDS: Alternative Vehicles/Fuels Automotive Manufacturing Manufacturing General Automotive Automotive

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Posted on

Swarmer and HIMERA Partner to Integrate Resilient Communications into Advanced Autonomous Systems

Partnership brings jamming-resistant communications into Swarmer’s next-gen autonomy stack

KYIV, Ukraine, April 29, 2026 (GLOBE NEWSWIRE) — Swarmer, Inc (“Swarmer” or the “Company”) (Nasdaq: SWMR), a drone autonomy software company which has supported more than 100,000 real-world combat missions in Ukraine since April 2024, today announced its subsidiary, Swarmer Estonia OÜ, has entered into a memorandum of understanding with HIMERA to establish a strategic partnership focused on integrating resilient communications into Swarmer’s next-generation autonomy stack.

HIMERA is a Ukraine-based provider of jam-resistant, frequency-hopping radios engineered for connectivity under severe jamming conditions. HIMERA’s radios have been trusted by units requiring high-assurance communications in contested environments. That operational experience now becomes a foundational element of Swarmer’s autonomy stack, giving system vendors a pre-validated communications backbone designed for multi-vehicle missions where reliability directly affects operational outcomes.

Together, the two companies are combining battlefield-proven communications expertise with advanced autonomy software to deliver a new class of integrated solutions for unmanned operations at scale. The agreement reflects a shared approach: building systems that are designed from the ground up in contested, real-world battlefields rather than sterile laboratory conditions. By uniting autonomy software and resilient communications into a single, integrated offering, the partnership lowers the barrier for vendors to deploy reliable multi-vehicle systems while accelerating the adoption of resilient autonomy across all domains.

“Resilient communications is the cornerstone of multi-vehicle autonomy,” said Serhii Kupriienko, Global CEO of Swarmer. “We want to provide software that can coordinate large numbers of unmanned systems, across all domains, in the most challenging conditions. Integrating HIMERA’s proven radios strengthens that vision and accelerates our ability to deliver this kind of interoperable, highly reliable autonomy to our allies around the world.”

“Swarmer and HIMERA are aligned in one core belief: technology must be resilient, flexible and built around the real conditions operators face every day,” said Misha Rudominski, Co-Founder & CEO of HIMERA. “Combining our resilient communication system with Swarmer’s drone autonomy stack gives vendors an integrated, field-ready solution that increases reliability and removes unnecessary integration overhead. This partnership is born from real operational needs — the ones we encounter every day on the ground.”

This collaboration positions Swarmer and HIMERA not just as technology suppliers, but as co-creators of next-generation operational infrastructure for unmanned systems. The companies will jointly engage vendors and integrators across aerial, ground and maritime systems, offering the integrated communications–autonomy solution as a ready-to-deploy option.

About Swarmer

Swarmer™ is a defense technology company that specializes in vendor-agnostic technologies that address critical operational challenges faced by modern military forces. Swarmer’s primary mission areas include autonomous swarm coordination, multi-domain unmanned systems integration, AI-powered collaborative autonomy, and command and control software for distributed operations. The company’s primary customer base consists of drone manufacturers who license Swarmer’s software for integration with their hardware platforms. Swarmer’s technology has been rigorously validated in real-world kinetic environments and was first deployed in combat operations in Ukraine in April 2024. Since then, it has completed more than 100,000 combat missions, generating terabytes of proprietary data that informs its machine-learning models and enables the replication of advanced pilot performance at scale. With headquarters in Austin, Texas, Swarmer has offices in the U.S, Ukraine, Poland and Estonia.

About HIMERA

HIMERA is a Ukrainian developer and manufacturer of resilient communication systems for the Defense Forces. HIMERA solutions are battlefield-ready and are used in the hottest defensive and offensive operations in Ukraine. HIMERA is a multidisciplinary team of experts who are constantly improving the product line to meet the requirements of modern warfare. HIMERA products are already present in all types of units of the Ukrainian Defense Forces and have been validated by the US Special Operations Forces and various Defense Forces across NATO.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements in this release include, but are not limited to, statements regarding: the anticipated benefits of the strategic partnership between Swarmer Estonia OÜ and HIMERA; the expected integration of HIMERA’s jam-resistant communications technology into Swarmer’s autonomy stack; the ability of the combined solution to lower integration barriers for vendors and accelerate adoption of resilient autonomy; the companies’ plans to jointly engage vendors and integrators across aerial, ground, and maritime domains; the expected deployment of an integrated communications-autonomy solution as a ready-to- deploy offering; and the Company’s broader growth and product development strategy. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated.

Factors that could cause actual results to differ materially from those expressed or implied by forward-looking statements include, but are not limited to: the parties’ ability to successfully execute on the memorandum of understanding and achieve the anticipated benefits of the partnership; challenges associated with integrating third-party communications technology into the Company’s existing software platform; the ability to attract vendors and integrators for the combined solution; competition in the defense technology sector; the Company’s reliance on government contracts and the associated procurement processes; geopolitical conditions affecting operations in Ukraine and other regions; risks related to operating through foreign subsidiaries; regulatory requirements applicable to defense technology exports and international partnerships; and other risks and uncertainties described in the Company’s filings with the Securities and Exchange Commission.

The Company undertakes no obligation to update or revise any forward-looking statements, whether resulting from new information, future events, or otherwise, except as required by applicable law.

Investor Relations Contact: [email protected]

Media Relations Contact: [email protected] or [email protected]



Posted on

CONMED Corporation Announces First Quarter 2026 Financial Results

CONMED Corporation Announces First Quarter 2026 Financial Results

LARGO, Fla.–(BUSINESS WIRE)–CONMED Corporation (NYSE: CNMD) today announced financial results for the first quarter ended March 31, 2026.

First Quarter 2026 Highlights

  • Sales of $317.0 million decreased 1.3% year-over-year as reported and 2.9% in constant currency. Net sales growth was impacted by a $15.5 million decrease in sales from the exit of certain GI products.

  • Domestic revenue decreased 5.8% year-over-year. Domestic sales growth was impacted by a $15.2 million decrease in sales from the exit of certain GI products.

  • International revenue increased 4.7% year-over-year as reported and 1.0% in constant currency. International sales growth was impacted by a $0.3 million decrease in sales from the exit of certain GI products.

  • Diluted net earnings per share (GAAP) were $0.45, compared to diluted net earnings per share (GAAP) of $0.19 in the first quarter of 2025.

  • Adjusted diluted net earnings per share(1) were $0.89, compared to adjusted diluted net earnings per share of $0.95 in the first quarter of 2025.

“Our 2025 momentum continued in the first quarter as we delivered revenue and adjusted earnings ahead of our expectations,” said Patrick J. Beyer, CONMED’s President and Chief Executive Officer. “We continue to concentrate our resources and investment on our higher-growth, higher-margin areas: minimally invasive surgery, smoke evacuation, and orthopedic soft tissue repair.”

2026 Outlook

Based on the Company’s first quarter performance, management is raising its outlook for full-year 2026 organic revenue growth on a constant currency basis. The Company now expects year-over-year organic constant currency revenue growth, which excludes gastroenterology product sales, of approximately 5.0% to 6.5% compared to the prior guidance range of 4.5% to 6.0%. Full-year 2026 reported revenue is now expected to be in the range of $1.350 billion to $1.375 billion, compared to prior guidance of $1.345 billion to $1.375 billion. The updated revenue outlook reflects an estimated 40 to 50 basis points of favorable foreign exchange impact, compared to the prior assumption of 0 to 50 basis points of favorable impact. This updated guidance also reflects an estimated $14.5 million to $17.5 million in revenue from gastroenterology products, reduced from the prior guidance of $21.0 million to $25.0 million due to the divestiture of the remaining gastroenterology portfolio.

The Company continues to expect full-year adjusted diluted net earnings per share(2) in the range of $4.30 to $4.45. The reaffirmed outlook reflects stronger underlying operating performance, largely offset by higher-than-previously anticipated interest expense due to the planned refinancing of the Company’s debt during 2026.

Supplemental Financial Disclosures

(1) A reconciliation of reported diluted net earnings per share to adjusted diluted net earnings per share, a non-GAAP financial measure, appears below.

(2) Information reconciling forward-looking adjusted diluted net earnings per share to the comparable GAAP financial measures is unavailable to the company without unreasonable effort, as discussed below.

Conference Call

The Company’s management will host a conference call today at 4:30 p.m. ET to discuss its first quarter 2026 results.

To participate in the conference call via telephone, please click here to pre-register and obtain the dial-in number and passcode.

This conference call will also be webcast and can be accessed from the “Investors” section of CONMED’s website at www.conmed.com. The webcast replay of the call will be available at the same site approximately one hour after the end of the call.

Consolidated Condensed Statements of Income

(in thousands except per share amounts, unaudited)

 

 

 

 

 

 

 

Three Months Ended

 

 

March 31,

 

 

 

2026

 

 

 

2025

 

 

 

 

 

 

Net sales

 

$

317,046

 

 

$

321,256

 

Cost of sales

 

 

133,599

 

 

 

143,504

 

Gross profit

 

 

183,447

 

 

 

177,752

 

% of sales

 

 

57.9

%

 

 

55.3

%

Selling & administrative expense

 

 

141,699

 

 

 

148,847

 

Research & development expense

 

 

16,333

 

 

 

12,947

 

Income from operations

 

 

25,415

 

 

 

15,958

 

% of sales

 

 

8.0

%

 

 

5.0

%

Interest expense

 

 

7,060

 

 

 

8,286

 

Income before income taxes

 

 

18,355

 

 

 

7,672

 

Provision for income taxes

 

 

4,527

 

 

 

1,636

 

Net income

 

$

13,828

 

 

$

6,036

 

 

 

 

 

 

Basic EPS

 

$

0.45

 

 

$

0.19

 

Diluted EPS

 

 

0.45

 

 

 

0.19

 

 

 

 

 

 

Basic shares

 

 

30,588

 

 

 

30,973

 

Diluted shares

 

 

30,621

 

 

 

31,151

 

Sales Summary

(in millions, unaudited)

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended March 31,

 

 

 

 

 

% Change

 

 

 

 

 

 

 

 

 

 

 

Domestic

 

International

 

2026

 

2025

 

As

Reported

 

Impact of

Foreign

Currency

 

Constant

Currency

 

As

Reported

 

As

Reported

 

Impact of

Foreign

Currency

 

Constant

Currency

Orthopedic Surgery

$

147.7

$

138.3

6.8

%

-2.3

%

4.5

%

5.5

%

7.6

%

-3.7

%

3.9

%

General Surgery

 

169.3

 

183.0

-7.4

%

-1.1

%

-8.5

%

-10.4

%

0.1

%

-3.9

%

-3.8

%

 

$

317.0

$

321.3

-1.3

%

-1.6

%

-2.9

%

-5.8

%

4.7

%

-3.7

%

1.0

%

 

 

 

 

 

 

 

 

 

 

Single-use Products

$

270.0

$

276.3

-2.3

%

-1.6

%

-3.9

%

-8.1

%

6.2

%

-4.0

%

2.2

%

Capital Products

 

47.0

 

45.0

4.6

%

-1.5

%

3.1

%

12.4

%

-2.0

%

-2.8

%

-4.8

%

 

$

317.0

$

321.3

-1.3

%

-1.6

%

-2.9

%

-5.8

%

4.7

%

-3.7

%

1.0

%

 

 

 

 

 

 

 

 

 

 

Domestic

$

173.0

$

183.8

-5.8

%

0.0

%

-5.8

%

 

 

 

 

International

 

144.0

 

137.5

4.7

%

-3.7

%

1.0

%

 

 

 

 

 

$

317.0

$

321.3

-1.3

%

-1.6

%

-2.9

%

 

 

 

 

Reconciliation of Reported Net Income to Adjusted Net Income

(in thousands, except per share amounts, unaudited)

Three Months Ended March 31, 2026

 

Gross Profit

Selling & Administrative Expense

Research & Development Expense

Operating Income

Interest Expense

Tax Expense

Effective Tax Rate

Net Income

Diluted EPS

As reported

$

183,447

 

$

141,699

 

$

16,333

 

$

25,415

 

$

7,060

 

$

4,527

 

24.7

%

$

13,828

 

$

0.45

% of sales

 

57.9

%

 

44.7

%

 

5.2

%

 

8.0

%

 

 

 

 

 

Operational optimization costs(1)

 

379

 

 

(7,526

)

 

–

 

 

7,905

 

 

–

 

 

1,801

 

 

 

6,104

 

 

Executive transition costs(2)

 

–

 

 

(3,342

)

 

–

 

 

3,342

 

 

–

 

 

761

 

 

 

2,581

 

 

EU medical device regulations(3)

 

–

 

 

–

 

 

(1,167

)

 

1,167

 

 

–

 

 

266

 

 

 

901

 

 

Contingent consideration fair value adjustments(4)

 

–

 

 

(722

)

 

–

 

 

722

 

 

–

 

 

164

 

 

 

558

 

 

Termination of distribution agreement(5)

 

(1,864

)

 

–

 

 

–

 

 

(1,864

)

 

–

 

 

(425

)

 

 

(1,439

)

 

Gain on sale of product line(6)

 

–

 

 

3,916

 

 

–

 

 

(3,916

)

 

–

 

 

(892

)

 

 

(3,024

)

 

 

$

181,962

 

$

134,025

 

$

15,166

 

$

32,771

 

$

7,060

 

$

6,202

 

 

$

19,509

 

 

Adjusted gross profit %

 

57.4

%

 

 

 

 

 

 

 

 

Amortization(7)

$

1,500

 

 

(7,261

)

 

–

 

 

8,761

 

 

(1,276

)

 

2,442

 

 

 

7,595

 

 

As adjusted

 

$

126,764

 

$

15,166

 

$

41,532

 

$

5,784

 

$

8,644

 

24.2

%

$

27,104

 

$

0.89

% of sales

 

 

40.0

%

 

4.8

%

 

13.1

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended March 31, 2025

 

Gross Profit

Selling & Administrative Expense

Research & Development Expense

Operating Income

Interest Expense

Tax Expense

Effective Tax Rate

Net Income

Diluted EPS

As reported

$

177,752

 

$

148,847

 

$

12,947

 

$

15,958

 

$

8,286

 

$

1,636

 

21.3

%

$

6,036

 

$

0.19

% of sales

 

55.3

%

 

46.3

%

 

4.0

%

 

5.0

%

 

 

 

 

 

Operational optimization costs(1)

 

3,410

 

 

(490

)

 

–

 

 

3,900

 

 

–

 

 

901

 

 

 

2,999

 

 

Executive transition costs(2)

 

–

 

 

(12,165

)

 

–

 

 

12,165

 

 

–

 

 

2,812

 

 

 

9,353

 

 

Contingent consideration fair value adjustments(4)

 

–

 

 

(3,962

)

 

–

 

 

3,962

 

 

–

 

 

916

 

 

 

3,046

 

 

Gain on sale of product line(6)

 

–

 

 

354

 

 

–

 

 

(354

)

 

–

 

 

(82

)

 

 

(272

)

 

Legal matters(8)

 

–

 

 

(1,037

)

 

–

 

 

1,037

 

 

–

 

 

240

 

 

 

797

 

 

 

$

181,162

 

$

131,547

 

$

12,947

 

$

36,668

 

$

8,286

 

$

6,423

 

 

$

21,959

 

 

Adjusted gross profit %

 

56.4

%

 

 

 

 

 

 

 

 

Amortization(7)

$

1,500

 

 

(7,172

)

 

–

 

 

8,672

 

 

(1,443

)

 

2,455

 

 

 

7,660

 

 

As adjusted

 

$

124,375

 

$

12,947

 

$

45,340

 

$

6,843

 

$

8,878

 

23.1

%

$

29,619

 

$

0.95

% of sales

 

 

38.7

%

 

4.0

%

 

14.1

%

 

 

 

 

 

(1) In 2026 and 2025, the Company incurred costs related to the engagement of a consulting firm to evaluate and propose improvements to our manufacturing operations which are included in cost of sales. In addition, we incurred consulting fees, legal fees and other charges related to operational optimization which are included in selling & administrative expense.

(2) The Company incurred cash and stock-based compensation costs related to advisory services provided by our former Chief Financial Officer and Chief Executive Officer in 2026 and 2025, respectively.

(3) In 2026, the Company incurred costs to comply with the European Union’s Medical Device Regulations (MDR).

(4) In 2026 and 2025, the Company recorded expense related to the fair value adjustments of contingent consideration.

(5) In 2026, the Company incurred income related to the early termination of an agreement granting the Company exclusive distribution rights.

(6) In 2026, the Company recognized a gain on the sale of certain assets related to gastroenterology products. In 2025, the Company recognized a gain on the sale of a product line.

(7) Includes amortization of intangible assets and deferred financing fees.

(8) In 2025, the Company incurred costs for third party services pertaining to potential issues with certain royalty payments to design surgeons.

Reconciliation of Reported Net Income to EBITDA & Adjusted EBITDA

(in thousands, unaudited)

 

 

Three Months Ended

 

March 31,

 

 

2026

 

 

 

2025

 

 

 

 

 

Net income

$

13,828

 

 

$

6,036

 

Provision for income taxes

 

4,527

 

 

 

1,636

 

Interest expense

 

7,060

 

 

 

8,286

 

Depreciation

 

4,174

 

 

 

4,235

 

Amortization

 

14,663

 

 

 

14,018

 

EBITDA

$

44,252

 

 

$

34,211

 

 

 

 

 

Stock based compensation

 

4,783

 

 

 

6,381

 

Operational optimization costs

 

7,905

 

 

 

3,900

 

Executive transition costs

 

3,342

 

 

 

12,165

 

EU medical device regulations

 

1,167

 

 

 

–

 

Contingent consideration fair value adjustments

 

722

 

 

 

3,962

 

Termination of distribution agreement

 

(1,864

)

 

 

–

 

Gain on sale of product line

 

(3,916

)

 

 

(354

)

Legal matters

 

–

 

 

 

1,037

 

Adjusted EBITDA

$

56,391

 

 

$

61,302

 

 

 

 

 

 

 

 

 

EBITDA Margin

 

 

 

EBITDA

 

14.0

%

 

 

10.6

%

Adjusted EBITDA

 

17.8

%

 

 

19.1

%

About CONMED Corporation

CONMED is a medical technology company that provides devices and equipment for surgical procedures. The Company’s products are used by surgeons and other healthcare professionals in a variety of specialties including orthopedics, general surgery, gynecology, and thoracic surgery. For more information, visit www.conmed.com.

Forward-Looking Statements

This press release and associated conference call may contain forward-looking statements based on certain assumptions and contingencies that involve risks and uncertainties, which could cause actual results, performance, or trends to differ materially from those expressed in the forward-looking statements herein or in previous disclosures. For example, in addition to general industry and economic conditions, factors that could cause actual results to differ materially from those in the forward-looking statements may include, but are not limited to the risk factors discussed in the Company’s Annual Report on Form 10-K for the full year ended December 31, 2025 and other risks and uncertainties, which may be detailed from time to time in reports filed by CONMED with the SEC. Any and all forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and relate to the Company’s performance on a going-forward basis. The Company believes that all forward-looking statements made by it have a reasonable basis, but there can be no assurance that management’s expectations, beliefs or projections as expressed in the forward-looking statements will actually occur or prove to be correct.

Supplemental Information – Reconciliation of GAAP to Non-GAAP Financial Measures

The Company supplements the reporting of its financial information determined under generally accepted accounting principles in the United States (GAAP) with certain non-GAAP financial measures, including percentage sales growth in constant currency; adjusted gross profit; cost of sales excluding specified items; adjusted selling and administrative expenses; adjusted research and development expense; adjusted operating income; adjusted interest expense; adjusted income tax expense; adjusted effective income tax rate; adjusted net income and adjusted diluted net earnings per share (EPS). The Company believes that these non-GAAP measures provide meaningful information to assist investors and shareholders in understanding its financial results and assessing its prospects for future performance. Management believes percentage sales growth in constant currency and the other adjusted measures described above are important indicators of its operations because they exclude items that may not be indicative of, or are unrelated to, its core operating results and provide a baseline for analyzing trends in the Company’s underlying business. Further, the presentation of EBITDA is a non-GAAP measurement that management considers useful for measuring aspects of the Company’s cash flow. Management uses these non-GAAP financial measures for reviewing the operating results and analyzing potential future business trends in connection with its budget process and bases certain management incentive compensation on these non-GAAP financial measures.

Net sales on a constant currency basis is a non-GAAP measure. The Company analyzes net sales on a constant currency basis to better measure the comparability of results between periods. To measure percentage sales growth in constant currency, the Company removes the impact of changes in foreign currency exchange rates that affect the comparability and trend of net sales. To measure earnings performance on a consistent and comparable basis, the Company excludes certain items that affect the comparability of operating results and the trend of earnings. These adjustments are irregular in timing, may not be indicative of past and future performance and are therefore excluded to allow investors to better understand underlying operating trends.

Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies’ non-GAAP financial measures having the same or similar names. These adjusted financial measures should not be considered in isolation or as a substitute for reported sales growth, gross profit, cost of sales, selling and administrative expenses, research and development expense, operating income, interest expense, income tax expense, effective income tax rate, net income and diluted net earnings per share, the most directly comparable GAAP financial measures. These non-GAAP financial measures are an additional way of viewing aspects of the Company’s operations that, when viewed with GAAP results and the reconciliations to corresponding GAAP financial measures above, provide a more complete understanding of the business. The Company strongly encourages investors and shareholders to review its financial statements and publicly filed reports in their entirety and not to rely on any single financial measure.

We are unable to present a quantitative reconciliation of our expected diluted net earnings per share to expected adjusted diluted net earnings per share as we are unable to predict with reasonable certainty and without unreasonable effort the impact and timing of acquisition, integration and other charges. The financial impact of these items is uncertain and is dependent on various factors, including timing, and could be material to our consolidated condensed statements of income.

CONMED Corporation

Dalton Henry

Investor Relations Analyst

[email protected]

KEYWORDS: Florida United States North America

INDUSTRY KEYWORDS: Biotechnology General Health Surgery Medical Devices Health

MEDIA:

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Posted on

Dyadic to Report Q1 2026 Financial Results and Host Conference Call on Wednesday May 13, 2026

JUPITER, Fla., April 29, 2026 (GLOBE NEWSWIRE) — Dyadic International, Inc. d/b/a Dyadic Applied BioSolutions (“Dyadic”, “we”, “us”, “our”, or the “Company”) (Nasdaq: DYAI), a global biotechnology company focused on the scalable production of high-value, precision engineered functional input proteins for use in life sciences, food and nutrition, and industrial biotechnology applications utilizing its proprietary gene expression platforms, today announced that it will report its financial results for the quarter ended March 31, 2026 and host a corporate update conference call on Wednesday, May 13, 2026.

Conference Call Information

Date: Wednesday, May 13, 2026

Time: 5:00 p.m. Eastern Time

Dial-in numbers: Toll Free: +1-877-407-9219 / +1 412-652-1274

Conference ID: 13759380

Webcast Link: https://event.choruscall.com/mediaframe/webcast.html?webcastid=qVNgtGJ6 An archive of the webcast will be available within 24 hours after completion of the live event and will be accessible on the Investor Relations section of the Company’s website at www.dyadic.com. To access the replay of the webcast, please follow the webcast link above.

If you have any questions that you would like to ask management during the Q&A session, please email [email protected] prior to the conference call.

About Dyadic Applied BioSolutions

Dyadic Applied BioSolutions is a global biotechnology company that uses its proprietary microbial platforms to produce recombinant proteins that are sold or licensed to partners across the life sciences, food and nutrition, and bio-industrial markets. These high-quality proteins are designed to enable customers to develop more efficient, scalable, and sustainable products. Dyadic’s C1 and Dapibus™ expression systems support flexible, cost-effective manufacturing, and are the foundation of a growing portfolio of commercial and partnered programs. For more information, please visit www.dyadic.com.

Safe Harbor Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including those regarding Dyadic International’s expectations, intentions, strategies, and beliefs pertaining to future events or future financial performance, such as the success of our clinical trial and interest in our protein production platforms, our research projects and third-party collaborations, as well as the availability of necessary funding. Actual events or results may differ materially from those in the forward-looking statements because of various important factors, including those described in the Company’s most recent filings with the SEC. Dyadic assumes no obligation to update publicly any such forward-looking statements, whether because of new information, future events or otherwise. For a more complete description of the risks that could cause our actual results to differ from our current expectations, please see the section entitled “Risk Factors” in Dyadic’s annual reports on Form 10-K and quarterly reports on Form 10-Q filed with the SEC, as such factors may be updated from time to time in Dyadic’s periodic filings with the SEC, which are accessible on the SEC’s website and at www.dyadic.com.

Contact:
Ping Rawson
Dyadic Applied BioSolutions
Chief Financial Officer
Phone: (561) 743-8333
Email: [email protected]



Posted on

Spok Reports First Quarter 2026 Results

Spok Reports First Quarter 2026 Results

Year-Over-Year Software Managed Services Revenue Growth of Nearly 57%

Company Reiterates 2026 Financial Guidance

PLANO, Texas–(BUSINESS WIRE)–
Spok Holdings, Inc. (NASDAQ: SPOK), a global leader in healthcare communications, today announced results for the first quarter ended March 31, 2026. In addition, the Company’s Board of Directors declared a regular quarterly dividend of $0.3125 per share, payable on June 24, 2026, to stockholders of record on May 26, 2026.

Recent Highlights:

  • Spok recently announced a strategic realignment designed to further reduce operating expenses and deliver in excess of $6.0 million in anticipated annual cost savings, along with an approximately 10% workforce reduction

  • First-quarter software operations bookings included 17 six-figure customer contracts

  • Software backlog totaled $55.3 million at March 31, 2026, as the Company continues to focus on multi-year and managed services bookings

  • First quarter 2026 wireless average revenue per unit (ARPU) was $8.29, up 0.6% on a year-over-year basis

  • Capital returned to stockholders in the first quarter of 2026 totaled $8.0 million

  • Research and development costs totaled $3.5 million in the first quarter of 2026, supporting Spok’s investment in the Company’s industry-leading solutions to fuel future growth

  • Spok is excited about the significant potential for artificial intelligence to drive further operational efficiencies across the organization, with a particular focus on accelerating product development timelines and reducing time to market for new Care Connect® Suite capabilities

  • Cash and cash equivalents balance of $17.1 million at March 31, 2026, and no debt

“Our focus continues to be on generating cash flow and returning capital to stockholders, while responsibly investing for future growth,” said Vincent D. Kelly, chief executive officer of Spok Holdings, Inc. “We are confident that the strategic realignment that we announced a couple of weeks ago will create significant value for stockholders, while continuing both our investment in our Care Connect® Suite and our quarterly dividend, which currently represents a yield in excess of 10%.

“In the first quarter, we were able to deliver a nearly 57% year-over-year increase in software managed services revenue as well as a continued increase in the wireless average revenue per unit. Additionally, we generated nearly $2 million of net income and $5.3 million of adjusted EBITDA. Our ability to generate net income in various economic environments results from the financial platform our team has created. With over 80% of our revenues generated from re-occurring revenue streams, including software maintenance and subscription contracts, managed services, and wireless pager revenue, and a debt free balance sheet, we can mitigate the impact of timing issues and seasonality on bookings levels.

“Based on our recent announcement, and our visibility into our product sales pipeline, we are reiterating our previously provided full year 2026 financial guidance estimates for revenue and adjusted EBITDA, with the midpoint of our adjusted EBITDA guidance also being up from 2025. We are also very excited about the potential for artificial intelligence to add further efficiency across our operations and meaningfully reduce time to market on our product development goals and timelines, an opportunity we believe will create significant additional value for our customers and stockholders alike,” concluded Kelly.

Financial Highlights:

 

For the three months ended March 31,

(Dollars in thousands)

2026

 

2025

 

Change (%)

Revenue

 

Wireless revenue

 

Paging revenue

$

16,569

$

17,607

(5.9

)%

Product and other revenue

 

917

 

867

5.8

%

Total wireless revenue

$

17,486

$

18,474

(5.3

)%

 

 

Software revenue

 

License

$

1,362

 

2,631

(48.2

)%

Professional services – projects

 

3,328

$

4,471

(25.6

)%

Professional services – managed services

 

2,059

 

1,315

56.6

%

Hardware

 

186

 

321

(42.1

)%

Maintenance and subscription

 

8,805

 

9,082

(3.0

)%

Total software revenue

$

15,740

$

17,820

(11.7

)%

Total revenue

$

33,226

$

36,294

(8.5

)%
 

 

For the three months ended March 31,

(Dollars in thousands)

2026

 

2025

 

Change (%)

GAAP

 

Operating expenses

$

30,782

$

30,276

1.7

%

Net income

$

1,987

$

5,196

(61.8

)%

Cash and cash equivalents (as of period end)

$

17,078

$

19,873

(14.1

)%

Capital returned to stockholders

$

7,963

$

7,947

0.2

%

 

 

Non-GAAP

 

Adjusted operating expenses

$

29,468

$

29,360

0.4

%

Adjusted EBITDA

$

5,259

$

8,204

(35.9

)%

 

 

 

For the three months ended March 31,

(Dollars in thousands, excluding units in service and ARPU)

2026

 

2025

 

Change (%)

Key Statistics

 

 

 

 

Wireless units in service (000’s) (as of period end)

 

657

 

 

705

 

(6.8

 )%

Wireless average revenue per unit (ARPU)

$

8.29

 

$

8.24

 

0.6

 %

Software operations bookings(1)

$

4,939

 

$

8,337

 

(40.8

 )%

Software backlog (as of period end)(2)

$

55,290

 

$

63,152

 

(12.4

 )%
 

(1) Software operations bookings includes net new (i.e., new customers or incremental add-on sales to existing customers) sales of license, professional services, equipment, and first-year maintenance.

(2) Software backlog excludes $14.8 million and $5.0 million of contractual obligations that are deemed cancellable by the customer without significant penalty as of March 31, 2026 and 2025, respectively.

Financial Outlook:

The Company also reiterated its prior financial guidance and expects the following for the full year 2026:

 

 

Current Guidance

(Unaudited and in millions)

Full Year 2026

 

 

From

 

To

Revenue

 

 

 

 

Wireless

 

$

68.0

 

$

71.0

Software

 

$

68.0

 

$

72.0

Total Revenue

 

$

136.0

 

$

143.0

 

 

 

 

 

Adjusted EBITDA

 

$

27.5

 

$

32.5

2026 First Quarter Call:

Management will host a conference call and webcast to discuss these financial results on Wednesday, April 29, 2026, at 5:00 p.m. Eastern Time. The presentation is open to all interested parties and may include forward-looking information.

Conference Call Details

Date/Time:

Wednesday, April 29, 2026, at 5:00 p.m. ET

Webcast:

https://www.webcast-eqs.com/registration/Spok_Q1_2026

U.S. Toll-Free Dial In:

877-407-0890

International Dial In:

1-201-389-0918

To access the call, please dial in approximately ten minutes before the start of the call. For those unable to join the live call, an OnDemand version of the webcast will be available following the call under the URL link and on the investor relations website.

* * * * * * * * *

About Spok

Spok Holdings, Inc. (NASDAQ: SPOK), headquartered in Plano, Texas, is proud to be a global leader in healthcare communications. We deliver clinical information to care teams when and where it matters most to improve patient outcomes. Top hospitals rely on the Spok Care Connect® platform to enhance workflows for clinicians and support administrative compliance. Our customers send over 70 million messages each month through their Spok® solutions. Spok enables smarter, faster clinical communication. For more information, visit spok.com.

Spok is a trademark of Spok Holdings, Inc. Spok Care Connect and Spok Mobile are trademarks of Spok, Inc.

Non-GAAP Financial Measures

This press release contains the following non-GAAP financial measures: adjusted operating expenses and adjusted EBITDA. Adjusted operating expenses excludes depreciation and accretion expense, impairment of intangible assets and severance and restructuring costs. Adjusted EBITDA represents net income/(loss) before interest income/expense, income tax benefit/expense, depreciation and accretion expense, stock-based compensation expense, impairment of intangible assets, legal costs unrelated to core business activities and non-recurring in nature, and severance and restructuring. With respect to our expectations under “Financial Outlook” above, reconciliation of adjusted EBITDA to net income is not available without unreasonable efforts on a forward-looking basis due to the high variability, complexity and uncertainty with respect to certain items included in net income that are excluded from adjusted EBITDA, in particular, income tax benefit/expense, stock-based compensation expenses, impairment of intangible assets, severance and restructuring and other non-recurring expenses. These items can have unpredictable fluctuations based on unforeseen activity that is out of our control and/or cannot be reasonably predicted.

We believe that these non-GAAP financial measures provide useful information to management and investors regarding certain financial and business trends relating to Spok’s financial condition and results of operations. We use these non-GAAP measures for financial, operational, and budgetary decision-making purposes, to understand and evaluate our core operating performance and trends, and to generate future operating plans. We believe that these non-GAAP financial measures permit us to more thoroughly analyze key financial metrics used to make operational decisions and allow us to assess our core operating results. We believe that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing our financial measures with other software companies who present similar non-GAAP financial measures. We adjust for certain items because we do not regard these costs as reflective of normal costs related to the ongoing operation of the business in the ordinary course. In general, these items possess one or more of the following characteristics: non-cash expenses, factors outside of our control, items that are non-operational in nature, and unusual items not expected to occur in the normal course of business. We believe it is important to exclude these costs, given that they do not represent future operational costs under this strategic business plan. This allows us to assess the underlying performance of our core business under this new strategic business plan.

We do not consider these non-GAAP measures in isolation or as an alternative to financial measures determined in accordance with GAAP. The principle of these non-GAAP financial measures is that they exclude significant amounts that are required by GAAP to be recorded in the Company’s financial statements. In addition, they are subject to inherent limitations as they reflect the exercise of judgment by management about which items are excluded or included in determining these non-GAAP financial measures. In order to compensate for these limitations, management presents non-GAAP financial measures in connection with GAAP results. We urge investors to review the reconciliation of our non-GAAP financial measures to the comparable GAAP financial measures, which are included in this press release, and not to rely on any single financial measure to evaluate our business.

Safe Harbor Statement under the Private Securities Litigation Reform Act

Statements contained herein or in prior press releases which are not historical fact, such as statements regarding our future operating and financial performance, are forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve risks and uncertainties that may cause our actual results to be materially different from the future results expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those expectations include, but are not limited to, our ability to manage wireless network rationalization to lower our costs without causing disruption of service to our customers; our ability to retain key management personnel and to attract and retain talent within the organization; the productivity of our sales organization and our ability to deliver effective customer support; our ability to identify potential acquisitions, finance, consummate and successfully integrate such acquisitions, and achieve the expected benefits of such acquisitions; economic conditions, such as recessionary economic cycles, the impact of trade disputes, tariffs and other trade protection measures, higher interest rates, inflation and higher levels of unemployment; risks related to our overall business strategy, including maximizing revenue and cash generation from our established businesses and returning capital to stockholders through dividends and repurchases of shares of our common stock; competition for our services and products from new technologies or those offered and/or developed from firms that are substantially larger and have much greater financial and human capital resources; continuing decline in the number of paging units we have in service with customers, commensurate with a continuing decline in our wireless revenue; our ability to address changing market conditions with new or revised software solutions; undetected defects, bugs, or security vulnerabilities in our products; our dependence on the United States healthcare industry; long sales cycle of our software solutions and services; our reliance on third-party vendors to supply us with wireless paging equipment; our ability to maintain successful relationships with our channel partners; our ability to protect our rights in intellectual property that we own and develop and the potential for material litigation claiming intellectual property infringement by us; our use of open source software, third-party software and other intellectual property; our reliance on data centers and other computer systems, hardware, software and satellite networks and telecommunications systems infrastructure (collectively, “IT Systems”) and technologies provided by third parties, and technology systems and electronic networks supplied and managed by third parties; cyberattacks, data breaches, system disruptions or other compromises to our or our critical third parties’ IT Systems, data, products or services; our ability to realize the benefits associated with our deferred income tax assets; future impairments of our long-lived assets or goodwill; risks related to data privacy and protection-related laws and regulation; and our ability to manage changes related to regulation, including laws and regulations affecting hospitals and the healthcare industry generally, as well as other risks described from time to time in our periodic reports and other filings with the Securities and Exchange Commission. Although Spok believes the expectations reflected in the forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Spok disclaims any intent or obligation to update any forward-looking statements.

Tables to Follow

SPOK HOLDINGS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited and in thousands except share, per share amounts and ARPU)

 

 

 

 

 

 

 

For the three months ended

 

 

3/31/2026

 

3/31/2025

Revenue:

 

 

 

 

Wireless

 

$

17,486

 

 

$

18,474

 

Software

 

 

15,740

 

 

 

17,820

 

Total revenue

 

 

33,226

 

 

 

36,294

 

Operating expenses:

 

 

 

 

Cost of revenue (exclusive of items shown separately below)

 

 

7,729

 

 

 

7,284

 

Research and development

 

 

3,457

 

 

 

3,094

 

Technology operations

 

 

6,162

 

 

 

6,190

 

Selling and marketing

 

 

4,488

 

 

 

4,925

 

General and administrative

 

 

7,632

 

 

 

7,867

 

Depreciation and accretion

 

 

992

 

 

 

859

 

Severance and restructuring

 

 

322

 

 

 

57

 

Total operating expenses

 

 

30,782

 

 

 

30,276

 

% of total revenue

 

 

92.6

%

 

 

83.4

%

Operating income

 

 

2,444

 

 

 

6,018

 

% of total revenue

 

 

7.4

%

 

 

16.6

%

Interest income

 

 

174

 

 

 

219

 

Other income

 

 

5

 

 

 

22

 

Income before income taxes

 

 

2,623

 

 

 

6,259

 

Provision for income taxes

 

 

(636

)

 

 

(1,063

)

Net income

 

$

1,987

 

 

$

5,196

 

Basic net income per common share

 

$

0.10

 

 

$

0.25

 

Diluted net income per common share

 

$

0.09

 

 

$

0.25

 

Basic weighted average common shares outstanding

 

 

20,770,505

 

 

 

20,440,306

 

Diluted weighted average common shares outstanding

 

 

21,141,838

 

 

 

20,656,794

 

Cash dividends declared per common share

 

 

0.3125

 

 

 

0.3125

 

SPOK HOLDINGS, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands)

 

 

 

 

 

 

 

3/31/2026

 

12/31/2025

 

 

 

 

 

ASSETS

 

(Unaudited)

 

 

 

 

 

 

 

Current assets:

 

 

 

 

Cash and cash equivalents

 

$

17,078

 

 

$

25,280

 

Accounts receivable, net

 

 

19,774

 

 

 

22,644

 

Prepaid expenses

 

 

9,734

 

 

 

8,909

 

Other current assets

 

 

636

 

 

 

1,051

 

Total current assets

 

 

47,222

 

 

 

57,884

 

Non-current assets:

 

 

 

 

Property and equipment, net

 

 

5,503

 

 

 

5,723

 

Operating lease right-of-use assets

 

 

5,776

 

 

 

6,477

 

Goodwill

 

 

99,175

 

 

 

99,175

 

Deferred income tax assets, net

 

 

36,001

 

 

 

36,530

 

Other non-current assets

 

 

216

 

 

 

322

 

Total non-current assets

 

 

146,671

 

 

 

148,227

 

Total assets

 

$

193,893

 

 

$

206,111

 

 

 

 

 

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

 

 

 

 

 

 

 

 

 

Current liabilities:

 

 

 

 

Accounts payable

 

$

4,932

 

 

$

3,975

 

Accrued compensation and benefits

 

 

3,435

 

 

 

7,361

 

Deferred revenue

 

 

28,405

 

 

 

30,452

 

Operating lease liabilities

 

 

2,508

 

 

 

2,676

 

Other current liabilities

 

 

4,166

 

 

 

4,645

 

Total current liabilities

 

 

43,446

 

 

 

49,109

 

Non-current liabilities:

 

 

 

 

Asset retirement obligations

 

 

4,905

 

 

 

4,902

 

Operating lease liabilities

 

 

3,701

 

 

 

4,263

 

Other non-current liabilities

 

 

877

 

 

 

1,458

 

Total non-current liabilities

 

 

9,483

 

 

 

10,623

 

Total liabilities

 

 

52,929

 

 

 

59,732

 

Commitments and contingencies

 

 

 

 

Stockholders’ equity:

 

 

 

 

Preferred stock

 

$

—

 

 

$

—

 

Common stock

 

 

2

 

 

 

2

 

Additional paid-in capital

 

 

107,612

 

 

 

108,212

 

Accumulated other comprehensive loss

 

 

(1,764

)

 

 

(1,756

)

Retained earnings

 

 

35,114

 

 

 

39,921

 

Total stockholders’ equity

 

 

140,964

 

 

 

146,379

 

Total liabilities and stockholders’ equity

 

$

193,893

 

 

$

206,111

 

SPOK HOLDINGS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited and in thousands)

 

 

 

 

 

For the three months ended

 

3/31/2026

 

3/31/2025

Operating activities:

 

 

 

Net income

$

1,987

 

 

$

5,196

 

Adjustments to reconcile net income to net cash provided by operating activities:

 

 

 

Depreciation and accretion

 

992

 

 

 

859

 

Deferred income tax expense

 

528

 

 

 

962

 

Stock-based compensation

 

1,471

 

 

 

1,270

 

Provisions for credit losses, service credits and other

 

401

 

 

 

220

 

Changes in assets and liabilities:

 

 

 

Accounts receivable

 

2,471

 

 

 

1,050

 

Prepaid expenses and other assets

 

(303

)

 

 

446

 

Net operating lease liabilities

 

(29

)

 

 

(8

)

Accounts payable and other liabilities

 

(2,882

)

 

 

(6,160

)

Deferred revenue

 

(2,193

)

 

 

(1,582

)

Net cash provided by operating activities

 

2,443

 

 

 

2,253

 

Investing activities:

 

 

 

Purchases of property and equipment

 

(604

)

 

 

(745

)

Net cash used in investing activities

 

(604

)

 

 

(745

)

Financing activities:

 

 

 

Cash distributions to stockholders

 

(7,963

)

 

 

(7,947

)

Purchase of common stock for tax withholding on vested equity awards

 

(2,070

)

 

 

(2,843

)

Net cash used in financing activities

 

(10,033

)

 

 

(10,790

)

Effect of exchange rate on cash and cash equivalents

 

(8

)

 

 

10

 

Net decrease in cash and cash equivalents

 

(8,202

)

 

 

(9,272

)

Cash and cash equivalents, beginning of period

 

25,280

 

 

 

29,145

 

Cash and cash equivalents, end of period

$

17,078

 

 

$

19,873

 

Supplemental disclosure:

 

 

 

Income taxes refunded

$

(1

)

 

$

(4

)

SPOK HOLDINGS, INC.

UNITS IN SERVICE, MARKET SEGMENTS,

AND AVERAGE REVENUE PER UNIT (ARPU)

(Unaudited and in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the three months ended

 

 

3/31/2026

 

12/31/2025

 

9/30/2025

 

6/30/2025

 

3/31/2025

 

12/31/2024

 

9/30/2024

 

6/30/2024

Account size ending units in service (000’s)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1 to 100 units

 

 

35

 

 

 

36

 

 

 

37

 

 

 

38

 

 

 

39

 

 

 

40

 

 

 

41

 

 

 

42

 

101 to 1,000 units

 

 

110

 

 

 

112

 

 

 

113

 

 

 

116

 

 

 

121

 

 

 

120

 

 

 

125

 

 

 

128

 

>1,000 units

 

 

512

 

 

 

527

 

 

 

534

 

 

 

540

 

 

 

545

 

 

 

560

 

 

 

564

 

 

 

577

 

Total

 

 

657

 

 

 

675

 

 

 

684

 

 

 

694

 

 

 

705

 

 

 

720

 

 

 

730

 

 

 

747

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Market segment as a percent of total ending units in service

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Healthcare

 

 

83.6

%

 

 

83.6

%

 

 

84.1

%

 

 

85.7

%

 

 

85.5

%

 

 

85.6

%

 

 

85.7

%

 

 

85.8

%

Government

 

 

5.0

%

 

 

4.9

%

 

 

5.0

%

 

 

4.0

%

 

 

4.0

%

 

 

4.0

%

 

 

4.1

%

 

 

4.4

%

Large enterprise

 

 

3.7

%

 

 

3.8

%

 

 

3.7

%

 

 

3.8

%

 

 

3.8

%

 

 

3.9

%

 

 

4.0

%

 

 

4.0

%

Other(1)

 

 

7.7

%

 

 

7.7

%

 

 

7.2

%

 

 

6.5

%

 

 

6.7

%

 

 

6.5

%

 

 

6.2

%

 

 

5.8

%

Total

 

 

100.0

%

 

 

100.0

%

 

 

100.0

%

 

 

100.0

%

 

 

100.0

%

 

 

100.0

%

 

 

100.0

%

 

 

100.0

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Account size ARPU

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1 to 100 units

 

$

13.21

 

 

$

13.26

 

 

$

12.92

 

 

$

12.88

 

 

$

13.04

 

 

$

13.08

 

 

$

12.70

 

 

$

12.51

 

101 to 1,000 units

 

 

9.95

 

 

 

9.97

 

 

 

9.83

 

 

 

9.72

 

 

 

9.64

 

 

 

9.60

 

 

 

9.19

 

 

 

9.06

 

>1,000 units

 

 

7.61

 

 

 

7.56

 

 

 

7.51

 

 

 

7.54

 

 

 

7.59

 

 

 

7.50

 

 

 

7.33

 

 

 

7.21

 

Total

 

$

8.29

 

 

$

8.26

 

 

$

8.19

 

 

$

8.20

 

 

$

8.24

 

 

$

8.16

 

 

$

7.95

 

 

$

7.84

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1) Other includes hospitality, resort and indirect units

RECONCILIATION OF ADJUSTED OPERATING EXPENSES

(Unaudited and in thousands)

 

 

 

 

 

 

 

For the three months ended

 

 

3/31/2026

 

3/31/2025

Operating expenses

 

$

30,782

 

 

$

30,276

 

Add back:

 

 

 

 

Depreciation and accretion

 

 

(992

)

 

 

(859

)

Severance and restructuring

 

 

(322

)

 

 

(57

)

Adjusted operating expenses

 

$

29,468

 

 

$

29,360

 

RECONCILIATION OF ADJUSTED EBITDA

(Unaudited and in thousands)

 

 

 

 

 

 

 

For the three months ended

 

 

3/31/2026

 

3/31/2025

Net income

 

$

1,987

 

 

$

5,196

 

Add back:

 

 

 

 

Provision for income taxes

 

 

636

 

 

 

1,063

 

Other income

 

 

(5

)

 

 

(22

)

Interest income

 

 

(174

)

 

 

(219

)

Depreciation and accretion

 

 

992

 

 

 

859

 

EBITDA

 

$

3,436

 

 

$

6,877

 

Adjustments:

 

 

 

 

Stock-based compensation

 

 

1,431

 

 

 

1,270

 

Severance and restructuring

 

 

322

 

 

 

57

 

Legal costs unrelated to core business activities and non-recurring in nature

 

$

70

 

 

$

—

 

Adjusted EBITDA

 

$

5,259

 

 

$

8,204

 

 

Al Galgano

952-224-6096

[email protected]

KEYWORDS: Texas District of Columbia United States North America

INDUSTRY KEYWORDS: Telecommunications Software Practice Management Health Data Management Hospitals Health Technology Technology

MEDIA:

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Posted on

OptimizeRx Releases 2026 Environmental, Social, and Governance (ESG) Report

WALTHAM, Mass., April 29, 2026 (GLOBE NEWSWIRE) — OptimizeRx Corp. (the “Company”) (Nasdaq: OPRX), a leading provider of healthcare technology solutions helping life sciences companies reach and engage healthcare professionals (HCPs) and patients, has published its Environmental, Social and Governance (ESG) report for 2026.

As a company focused on optimizing meaningful engagement opportunities at critical junctures of the healthcare journey, we remain dedicated to aligning our mission with our responsibilities as a corporate citizen.

ESG Report Highlights

  • The appointment of Mary Varghese Presti to our Board of Directors as an independent director furthers our ongoing process to refresh and expand our Board of Directors. Varghese Presti brings more than 25 years of experience at the intersection of healthcare, life sciences, and technology, with a track record of building and scaling platforms that translate innovation into real-world impact.
  • We have added Scope 3 supply chain emissions to our greenhouse gas emissions reporting for the first time since beginning emissions reporting in 2022.

To read our full ESG report, please visit our governance page here: https://investors.optimizerx.com/esg.

About OptimizeRx

OptimizeRx is a leading healthcare technology company that’s redefining how life science brands connect with patients and healthcare providers. Our platform combines innovative artificial intelligence (AI)-driven tools like the Dynamic Audience Activation Platform (DAAP) and Micro-Neighborhood Targeting (MNT) to deliver timely, relevant, and hyper-local engagement. By bridging the gap between HCP and DTC strategies, we empower brands to create synchronized marketing solutions that drive faster treatment decisions and improved patient outcomes.

Our commitment to privacy-safe, patient-centric technology ensures that every interaction is designed to make a meaningful impact, delivering life-changing therapies to the right patients at the right time. Headquartered in Waltham, Massachusetts, OptimizeRx partners with some of the world’s leading pharmaceutical and life sciences companies to transform the healthcare landscape and create a healthier future for all.

For more information, follow the Company on X, LinkedIn or visit www.optimizerx.com. 

Important Cautions Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “anticipates”, “believes”, “estimates”, “expects”, “forecasts”, “intends”, “plans”, “projects”, “targets”, “designed”, “could”, “may”, “should”, “will” or other similar words and expressions are intended to identify these forward-looking statements. All statements that reflect the Company’s expectations, assumptions, projections, beliefs or opinions about the future, other than statements of historical fact, are forward-looking statements, including, without limitation, statements relating to the Company’s growth, business plans, and future performance. These forward-looking statements are based on the Company’s current expectations and assumptions regarding the Company’s business, the economy, and other future conditions. The Company disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise, except as required by applicable law. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted, or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition, and other risks summarized in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, its subsequent Quarterly Reports on Form 10-Q, and its other filings with the Securities and Exchange Commission.

OptimizeRx Contact

Andy D’Silva, Chief Business Officer
[email protected]

Investor Relations Contact

Douglas Farrell
LifeSci Advisors, LLC
[email protected]



Posted on

Glaukos Announces First Quarter 2026 Financial Results

Glaukos Announces First Quarter 2026 Financial Results

ALISO VIEJO, Calif.–(BUSINESS WIRE)–
Glaukos Corporation (NYSE: GKOS), an ophthalmic pharmaceutical and medical technology company focused on novel therapies for the treatment of glaucoma, corneal disorders, and retinal diseases, today announced financial results for the first quarter ended March 31, 2026. Key highlights include:

  • Record net sales of $150.6 million in Q1 2026 increased 41% year-over-year on a reported basis and 39% year-over-year on a constant currency basis.

  • Glaucoma record net sales of $129.3 million in Q1 2026 increased 47% year-over-year.

  • U.S. Glaucoma record net sales of $93.5 million in Q1 2026 increased 58% year-over-year.

  • Gross margin of approximately 78% and non-GAAP gross margin of approximately 84% in Q1 2026.

  • Raised 2026 net sales guidance to $620 million to $635 million, compared to $600 million to $620 million previously.

“Our record first quarter results reflect successful global execution across our key global commercial and development priorities, leaving us well positioned to sustain our strong growth momentum driven by two transformational growth drivers in iDose TR and Epioxa,” said Thomas Burns, Glaukos chairman and chief executive officer. “We continue to successfully advance our robust pipeline of novel, dropless platform technologies designed to meaningfully advance the standard of care and improve outcomes for patients suffering from chronic eye diseases.”

First Quarter 2026 Financial Results

Net sales in the first quarter of 2026 of $150.6 million increased 41% on a reported basis, or 39% on a constant currency basis, compared to $106.7 million in the same period in 2025.

Gross margin for the first quarter of 2026 was approximately 78%, compared to approximately 77% in the same period in 2025. Non-GAAP gross margin for the first quarter of 2026 was approximately 84%, compared to approximately 82% in the same period in 2025.

Selling, general and administrative (SG&A) expenses for the first quarter of 2026 increased 32% to $92.9 million, compared to $70.7 million in the same period in 2025. Non-GAAP SG&A expenses for the first quarter of 2026 increased 31% to $92.2 million, compared to $70.7 million in the same period in 2025.

GAAP and non-GAAP research and development (R&D) expenses for the first quarter of 2026 increased 36% to $44.1 million, compared to $32.4 million in the same period in 2025.

Loss from operations in the first quarter of 2026 was $19.9 million, compared to operating loss of $20.7 million in the first quarter of 2025. Non-GAAP loss from operations in the first quarter of 2026 was $10.5 million, compared to non-GAAP operating loss of $15.2 million in the first quarter of 2025.

Net loss in the first quarter of 2026 was $19.8 million, or ($0.34) per diluted share, compared to net loss of $18.1 million, or ($0.32) per diluted share, in the first quarter of 2025. Non-GAAP net loss in the first quarter of 2026 was $10.4 million, or ($0.18) per diluted share, compared to non-GAAP net loss of $12.6 million, or ($0.22) per diluted share, in the first quarter of 2025.

The company ended the first quarter of 2026 with approximately $280.5 million in cash and cash equivalents, short-term investments and restricted cash, and no debt.

2026 Revenue Guidance

The company expects 2026 net sales to be in the range of $620 million to $635 million based on the latest foreign currency exchange rates.

Webcast & Conference Call

The company will host a conference call and simultaneous webcast today at 1:30 p.m. PT (4:30 p.m. ET) to discuss the results and provide additional information about the company’s financial outlook. A link to the webcast is available on the company’s website at http://investors.glaukos.com. To participate in the conference call, please dial 800-715-9871 (U.S.) or 646-307-1963 (international) and enter Conference ID 1333241. A replay of the webcast will be archived on the company’s website following completion of the call.

Quarterly Summary Document

The company has posted a document on its Investor Relations website under the “Financials & Filings – Quarterly Results” section titled “Quarterly Summary.” This Quarterly Summary document is designed to provide the investment community with a summarized and easily accessible reference document that details the key facts associated with the quarter, the state of the company’s business objectives and strategies, and any forward statements or guidance the company may make. This document is provided alongside the company’s earnings press release and is designed to be read by investors before the regularly scheduled quarterly conference call. It is the company’s goal that this format will make its quarterly earnings process more efficient and impactful for the investment community.

About Glaukos

Glaukos (www.glaukos.com) is an ophthalmic pharmaceutical and medical technology company focused on developing and commercializing novel therapies for the treatment of glaucoma, corneal disorders, and retinal diseases. Glaukos first developed Micro-Invasive Glaucoma Surgery (MIGS) as an alternative to the traditional glaucoma treatment paradigm, launching its first MIGS device commercially in 2012. In 2024, Glaukos commenced commercial launch activities for iDose® TR, a first-of-its-kind, long-duration, intracameral procedural pharmaceutical designed to deliver 24/7 glaucoma drug therapy inside the eye for extended periods of time. Glaukos also markets the only FDA-approved corneal cross-linking therapy utilizing a proprietary bio-activated pharmaceutical for the treatment of keratoconus, a rarely diagnosed corneal disorder. Glaukos continues to successfully develop and advance a robust pipeline of novel, dropless platform technologies designed to meaningfully advance the standard of care and improve outcomes for patients suffering from chronic eye diseases.

Forward-Looking Statements

This communication contains “forward-looking statements” within the meaning of federal securities laws. All statements other than statements of historical facts included in this press release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future are forward-looking statements. These statements are based on management’s current expectations, assumptions, estimates and beliefs. Although we believe that we have a reasonable basis for forward-looking statements contained herein, we caution you that they are based on current expectations about future events affecting us and are subject to risks, uncertainties and factors relating to our operations and business environment, all of which are difficult to predict and many of which are beyond our control, that may cause our actual results to differ materially from those expressed or implied by forward-looking statements in this press release. These potential risks and uncertainties that could cause actual results to differ materially from those described in forward-looking statements include, without limitation, our ability to successfully commercialize our iDose TR and Epioxa therapies; the impact of general macroeconomic conditions including foreign currency fluctuations and future public health crises; supply and/or manufacturing disruptions, including those impacting our principal revenue-producing products, including the risk of recalls or serious safety issues with our products; our ability to achieve or sustain profitability, generate sales of our commercialized products and develop and commercialize additional products; risks associated with our international operations; our ability to meet our customers’ expectations for the quality or delivery of our products; the potential for misuse of our products; our ability to manage our growth and meet customer demand; the success of our acquisitions, collaborations, in licensing agreements, joint ventures, alliances or partnerships with third parties; our ability to protect our information systems against cyber threats and cybersecurity incidents, and to comply with state, federal and foreign data privacy laws and regulations; risks related to the implementation of artificial intelligence and machine learning technologies; the availability of net operating loss tax carryforwards; risks related to our capped call transactions; changes to domestic or foreign healthcare laws or trade policies, which could impact our profitability; the high cost of regulatory compliance, including the requirements of participation in federal healthcare programs such as Medicare and Medicaid and regulations for the approval and sale and marketing of our products and of our manufacturing processes; risks related to securing or maintaining adequate coverage or reimbursement by government or third-party payors the lengthy and expensive clinical trial process and the uncertainty of timing and outcomes from any particular clinical trial or regulatory approval processes; and our ability to protect, and the expense and time-consuming nature of protecting, our intellectual property against third parties and competitors and the impact of any claims against us for infringement or misappropriation of third party intellectual property rights and any related litigation. These and other known risks, uncertainties and factors are described in detail under the caption “Risk Factors” and elsewhere in our filings with the Securities and Exchange Commission (SEC), including our Annual Report on Form 10-K for the year ended December 31, 2025, which was filed with the SEC on February 23, 2026, and our Quarterly Report on Form 10-Q for the year ended March 31, 2026, which we expect to file on or before May 11, 2026. Our filings with the SEC are available in the Investor Section of our website at www.glaukos.com or at www.sec.gov. In addition, information about the risks and benefits of our products is available on our website at www.glaukos.com. All forward-looking statements included in this press release are expressly qualified in their entirety by the foregoing cautionary statements. You are cautioned not to place undue reliance on the forward-looking statements in this press release, which speak only as of the date hereof. We do not undertake any obligation to update, amend or clarify these forward-looking statements whether as a result of new information, future events or otherwise, except as may be required under applicable securities law.

Statement Regarding Use of Non-GAAP Financial Measures

To supplement the consolidated financial results prepared in accordance with Generally Accepted Accounting Principles (“GAAP”), the Company uses certain non-GAAP historical financial measures. Management makes adjustments to the GAAP measures for items (both charges and gains) that (a) do not reflect the core operational activities of the Company, (b) are commonly adjusted within the Company’s industry to enhance comparability of the Company’s financial results with those of its peer group, or (c) are inconsistent in amount or frequency between periods (albeit such items are monitored and controlled with equal diligence relative to core operations) (“Non-GAAP Purposes”). The Company uses the term “Non-GAAP” to exclude certain expenses, gains and losses to achieve the Non-GAAP Purposes, including external acquisition-related costs incurred to effect a business combination; amortization of intangible assets acquired in a business combination, asset purchase transaction or other contractual relationship; impairment of goodwill and intangible assets; certain in-process R&D charges; fair value adjustments to contingent consideration liabilities and pre-acquisition contingencies arising from a business combination; integration and transition costs related to business combinations; fair market value adjustments to inventories acquired in a business combination or asset purchase transaction; restructuring charges, duplicative operating expenses, or asset write-offs (or reversals) associated with exiting or significantly downsizing a business; unusual non-recurring expenses associated with inventory write-downs; gain or loss from the sale of a business; gain or loss on the mark-to-market adjustment, impairment, or sale of long-term investments; mark-to-market adjustments on derivative instruments that hedge income or expense exposures in a future period; significant legal litigation costs and/or settlement expenses or proceeds; legal and other associated expenses that are both unusual and significant related to governmental or internal inquiries; expenses, acceleration of amortization of debt issuance costs and gain or loss on debt extinguishment associated with the exchange or redemption of convertible senior notes; significant discrete income and other tax adjustments related to transactions as well as changes in estimated acquisition-date tax effects associated with business combinations, and the impact from implementation of tax law changes and settlements; and any other adjustment that is determined to be appropriate and consistent with the Non-GAAP Purposes. See “GAAP to Non-GAAP Reconciliations” for a reconciliation of each non-GAAP measure presented to the comparable GAAP financial measure.

In addition, in order to remove the impact of fluctuations in foreign currency exchange rates, the Company also presents certain net sales information on a constant currency basis, which represents the outcome that would have resulted had exchange rates in the current period been the same as the average exchange rates in effect in the comparable prior period. See “Reported Sales vs. Prior Periods” for a presentation of certain net sales information on a reported, GAAP and a constant currency basis.

GLAUKOS CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited)
(in thousands, except per share amounts)
 
 
Three Months Ended
March 31,
 

 

2026

 

 

2025

 
Net sales

$

150,571

 

$

106,664

 
Cost of sales

 

33,339

 

 

24,316

 
Gross profit

 

117,232

 

 

82,348

 
Operating expenses:
Selling, general and administrative

 

92,943

 

 

70,673

 
Research and development

 

44,145

 

 

32,353

 
Total operating expenses

 

137,088

 

 

103,026

 
Loss from operations

 

(19,856

)

 

(20,678

)
Non-operating income:
Interest income

 

2,431

 

 

3,076

 
Interest expense

 

(1,125

)

 

(1,163

)
Other (expense) income, net

 

(749

)

 

945

 
Total non-operating income

 

557

 

 

2,858

 
Loss before taxes

 

(19,299

)

 

(17,820

)
Income tax provision

 

484

 

 

326

 
Net loss

$

(19,783

)

$

(18,146

)
 
Basic and diluted net loss per share

$

(0.34

)

$

(0.32

)
 
Weighted-average shares outstanding used to compute
basic and diluted net loss per share

 

58,022

 

 

56,637

 
GLAUKOS CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except par values)
 
March 31, December 31,

 

2026

 

 

2025

 
(unaudited)
Assets
Current assets:
Cash and cash equivalents

$

104,249

 

$

90,813

 
Short-term investments

 

172,436

 

 

187,947

 
Accounts receivable, net

 

119,691

 

 

108,608

 
Inventory

 

62,384

 

 

63,564

 
Prepaid expenses and other current assets

 

26,993

 

 

24,052

 
Total current assets

 

485,753

 

 

474,984

 
Restricted cash

 

3,834

 

 

3,834

 
Property and equipment, net

 

112,432

 

 

113,253

 
Operating lease right-of-use asset

 

31,025

 

 

31,527

 
Finance lease right-of-use asset

 

38,800

 

 

39,404

 
Intangible assets, net

 

133,028

 

 

141,916

 
Goodwill

 

66,710

 

 

66,710

 
Deposits and other assets

 

21,744

 

 

21,859

 
Total assets

$

893,326

 

$

893,487

 
 
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable

$

19,153

 

$

24,624

 
Accrued liabilities

 

70,262

 

 

76,651

 
Total current liabilities

 

89,415

 

 

101,275

 
Operating lease liability

 

35,313

 

 

35,767

 
Finance lease liability

 

67,743

 

 

68,109

 
Deferred tax liability, net

 

441

 

 

441

 
Other liabilities

 

29,486

 

 

31,740

 
Total liabilities

 

222,398

 

 

237,332

 
 
Stockholders’ equity:
Preferred stock, $0.001 par value; 5,000 shares authorized; no shares
issued and outstanding as of March 31, 2026 and December 31, 2025

 

–

 

 

–

 
Common stock, $0.001 par value; 150,000 shares authorized; 58,387
and 57,539 shares issued and 58,359 and 57,511 shares outstanding
at March 31, 2026 and December 31, 2025, respectively

 

58

 

 

58

 
Additional paid-in capital

 

1,621,272

 

 

1,586,056

 
Accumulated other comprehensive income

 

2,643

 

 

3,303

 
Accumulated deficit

 

(952,913

)

 

(933,130

)
Less treasury stock (28 shares as of March 31, 2026 and December 31, 2025)

 

(132

)

 

(132

)
Total stockholders’ equity

 

670,928

 

 

656,155

 
Total liabilities and stockholders’ equity

$

893,326

 

$

 893,487

 
 
GLAUKOS CORPORATION
GAAP to Non-GAAP Reconciliations
(in thousands, except per share amounts and percentage data)
(unaudited)
 
Q1 2026 Q1 2025
 
GAAP Adjustments Non-GAAP GAAP Adjustments Non-GAAP
 
Cost of sales

$

33,339

 

$

(8,675

)

 (a)(b)

$

24,664

 

$

24,316

 

$

(5,523

)

 (a)

$

18,793

 
 
Gross Margin

 

77.9

%

 

5.7

%

 

83.6

%

 

77.2

%

 

5.2

%

 

82.4

%
 
Operating expenses:
Selling, general and administrative

$

92,943

 

$

(693

)

 (c)

$

92,250

 

$

70,673

 

$

–

 

$

70,673

 
Loss from operations

$

(19,856

)

$

9,368

 

$

(10,488

)

$

(20,678

)

$

5,523

 

$

(15,155

)
Net loss

$

(19,783

)

$

9,368

 

 (d)

$

(10,415

)

$

(18,146

)

$

5,523

 

 (d)

$

(12,623

)
Basic and diluted net loss per share

$

(0.34

)

$

0.16

 

$

(0.18

)

$

(0.32

)

$

0.10

 

$

(0.22

)
(a) Cost of sales adjustment related to amortization of developed technology intangible assets associated with the acquisition of Avedro, Inc. (Avedro) of $8.2 million in Q1 2026 and $5.5 million in Q1 2025.
(b) Mobius acquisition-related amortization expense of developed intellectual property of $0.5 million.
(c) Expenses related to the Company’s trade secrets litigation and related matters.
(d) Includes total tax effect for non-GAAP pre-tax adjustments. For non-GAAP adjustments associated with the U.S., the tax effect is $0 given the Company’s U.S. taxable loss positions in both 2026 and 2025.
Reported Sales vs. Prior Periods (in thousands)
Year-over-Year Percent Change Quarter-over-Quarter Percent Change

 

1Q 2026

 

 

1Q 2025

 

 

4Q 2025

 Reported Operations (1) Currency (2) Reported Operations (1) Currency (2)
 
International Glaucoma

$

35,808

$

29,009

$

32,779

23.4%

15.7%

7.7%

9.2%

8.2%

1.0%
 
Total Net Sales

$

150,571

$

106,664

$

143,121

41.2%

39.1%

2.1%

5.2%

5.0%

0.2%

(1)

 Operational growth excludes the effect of translational currency

(2)

 Calculated by converting the current period numbers using the prior period’s average foreign exchange rates

 

Chris Lewis

Vice President, Investor Relations & Corporate Affairs

[email protected]

KEYWORDS: California United States North America

INDUSTRY KEYWORDS: Surgery Health Pharmaceutical Optical Health Technology

MEDIA:

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Posted on

Teekay Group to Announce First Quarter 2026 Earnings Results on May 13, 2026

HAMILTON, Bermuda, April 29, 2026 (GLOBE NEWSWIRE) — Teekay Corporation Ltd. (Teekay) (NYSE:TK) and Teekay Tankers Ltd. (Teekay Tankers) (NYSE:TNK) (collectively, the Teekay Group) plan to release their financial results for the first quarter 2026 after market close on Wednesday, May 13, 2026.

The Teekay Group plans to host a conference call on Thursday, May 14, 2026 at 11:00 a.m. (ET) to discuss its results for the first quarter 2026. All shareholders and interested parties are invited to listen to the live conference call by choosing from the following options:

  • By dialing 1(800) 330-6710, or 1(647) 361-1999 if outside of North America, and quoting conference ID code 1992591.
  • By accessing the webcast, which will be available on the Teekay Group’s website at www.teekay.com (the archive will remain on the website for a period of one year).

The accompanying Teekay Group first quarter 2026 earnings presentation will also be available at www.teekay.com in advance of the conference call start time.

About Teekay

Teekay is a leading provider of international crude oil marine transportation and marine services. Teekay provides these services through its controlling ownership interest in Teekay Tankers, a leading owner and operator of mid-sized crude tankers. Teekay Tankers has a fleet of 34 double-hull tankers (including 15 Suezmax tankers and 18 Aframax / LR2 tankers, and 1 VLCC) and has three time chartered-in tankers. In addition, Teekay Tankers manages and operates vessels for the Australian government and Australian energy companies as part of the marine services provided by Teekay Tankers and owns a ship-to-ship transfer business that performs full-service lightering and lightering support operations in the U.S. Gulf and Caribbean.

Teekay’s common shares trade on the New York Stock Exchange under the symbol “TK”.

About Teekay Tankers

Teekay Tankers has a fleet of 34 double-hull tankers (including 15 Suezmax tankers, 18 Aframax / LR2 tankers and one VLCC tanker), and also has three time chartered-in oil tankers. Teekay Tankers’ vessels are typically employed through a mix of spot tanker market trading and short- or medium-term fixed-rate time charter contracts. In addition, Teekay Tankers manages and operates vessels for the Australian Government and Australian energy companies as part of the marine services provided by the Company and owns a ship-to-ship transfer business that performs full service lightering and lightering support operations in the U.S. Gulf and Caribbean. Teekay Tankers was formed in December 2007 by Teekay Corporation Ltd.

Teekay Tankers’ Class A common shares trade on the New York Stock Exchange under the symbol “TNK.”

For Investor Relations enquiries contact:

E-mail: [email protected]
Website: www.teekay.com