Know What's Happening in Finance
Know What's Happening in Finance
Klarna secures $1.7B risk transfer and $2B funding facility to boost lending
Klarna unveiled a $2 billion forward‑flow facility with Elliott Investment Management that will back up to $17 billion of U.S. loan originations over the next three years. It also completed a €1.7 billion Significant Risk Transfer led by Värde Partners, freeing capital for broader lending.
Also developing:
The February 2026 bulletin outlines three post‑pandemic credit‑market shifts that have eased financial conditions: bank‑funding cost spreads fell about 70 basis points, variable mortgage‑rate spreads narrowed roughly 65 basis points, and business‑credit supply expanded with non‑bank lenders gaining market share. These changes stem from a higher share of at‑call deposits, tighter wholesale‑funding spreads, intensified lender competition, and technology‑driven mortgage shopping. Collectively they make monetary‑policy transmission less restrictive and suggest a higher neutral interest rate than pre‑pandemic levels. The analysis also assesses the persistence of these trends amid regulatory and liquidity‑framework shifts.
Australia is gradually aligning with the G20 Roadmap for cross‑border payments, having met the universal access target but still falling short on cost, speed and transparency goals. Bank‑based transfers to advanced economies cost about 4 % for a A$1,000 payment, while...
Middleby Corp completed the sale of a 51% stake in its Residential Kitchen segment, generating $565 million in cash and retaining a 49% interest. The company accelerated share repurchases, buying back $960 million of stock and cutting the share count by roughly...
Viatris reported Q4 2025 revenue of $3.76 billion, a 1% decline year‑over‑year, but achieved 1% operational revenue growth when the indoor‑facility impact is excluded. Strong commercial performance drove double‑digit sales gains in Greater China (+9%), emerging markets (+7%) and Europe (+1%)....
Willdan Group reported its strongest quarter ever in Q4 2019, with contract revenue jumping 49.7% to $129.4 million and net revenue rising 51.8% to $61 million. The Energy segment led the surge, posting an 84.5% increase in net revenue, while adjusted EBITDA more...
Main Street Capital reported a GAAP net loss of $14.4 million for Q4 2025, but generated adjusted distributable earnings of $0.15 per share, bringing full‑year adjusted earnings to $0.64 per share. The loan portfolio expanded 13% to $2.7 billion, driven by 32...
Ascendis (SNDX) reported €720 million total 2025 revenue, driven by €477 million from Yorvipath and €206 million from Skytrofa. Q4 operating profit hit €10 million and cash flow reached €73 million, leaving €616 million in cash at year‑end. Management guided 2026 operating cash flow of roughly...
Hilton Grand Vacations reported fourth‑quarter 2020 revenue of $233 million, a 5% sequential increase, and adjusted EBITDA of $35 million (excluding a $3 million CARES Act credit). The company posted a net loss of $143 million, driven by a $209 million non‑cash land impairment. Contract...
MBIA Inc. reported a markedly narrower Q4 2018 GAAP loss of $7 million, driven by reduced loss‑adjustment expenses on its Puerto Rico exposure and lower LAE across structured‑finance assets. The company completed a restructuring of COFINA bonds, cutting insured debt service exposure...
National MI (NMI Holdings) reported a record 2025 year, posting $388.9 million net income (up 8%), diluted EPS of $4.92 (up 11%) and a 16.2% return on equity. Insurance in force reached $221.4 billion, a 5.4% year‑over‑year increase, while fourth‑quarter new insurance...
BioLife Solutions reported 2025 revenue of $96.2 million, a 29% year‑over‑year increase, driven largely by its biopreservation media (BPM) franchise which now represents 85% of total sales. Adjusted EBITDA rose to $25 million (26% margin) and the company posted adjusted net income...
Terawulf Inc. reported a transformative 2025, shifting from Bitcoin mining to a power‑backed high‑performance computing (HPC) platform. Revenue rose 20% to $168.5 million, driven by $12.8 billion of credit‑enhanced HPC lease contracts and $6.5 billion of new financing. Adjusted HPC margin reached 77%...
Fortune Brands Innovations (FBIN) announced a CEO transition, with board member Amit Banati taking over from Nicholas Fink in May, while Chair Susan Kilsby will act as interim CEO. 2025 total sales slipped 3% to $4.5 billion and operating income fell...
D‑Wave Quantum reported fiscal 2025 revenue of $24.6 million, up 179% year‑over‑year, driven by $16.2 million in system sales and $5.5 million in QCaaS subscriptions. Bookings jumped 471% in Q4 to $13.4 million after a €10 million multiyear contract, while the sales pipeline expanded nearly...
Ecovyst reported Q2 2025 Ecoservices sales of $176 million, a 14% year‑over‑year increase driven by higher sulfur pass‑throughs and the newly acquired Wagaman site. Adjusted EBITDA reached just under $56 million, surpassing the top end of its non‑GAAP guidance. The company closed...
Dentsply Sirona reported Q4 2025 revenue of $961 million, a 6.2% reported increase and 2.5% constant‑currency growth, while adjusted EBITDA margin slipped to 14.1%. The company recorded a $144 million non‑cash goodwill impairment and discontinued its $128 million annual dividend to prioritize debt...
Monster Beverage reported record fourth‑quarter net sales of $1.81 billion, a 4.7% year‑over‑year increase and 7.8% on a currency‑neutral basis. Gross profit margin rose to 55.3% (55.5% excluding alcohol‑brand inventory reserves), while operating income fell 12.2% to $381.2 million due to a...
Goldman Sachs reported a 27% rise in annual earnings per share to $51.32, driven by record $41.5 billion global banking revenue and strong performance across investment banking, FICC, equities, and asset‑wealth management. Return metrics improved, with quarterly ROE at 16% and...
Alpha Teknova reported Q4 2025 revenue of $10.5 million, a 9% year‑over‑year increase and the fifth consecutive quarter of growth, driven primarily by its Lab Essentials catalog line. Lab Essentials revenue rose 16% to $8.3 million, while Clinical Solutions revenue slipped 13%...
Teleflex reported 2025 adjusted EPS of $6.98, an 8.7% increase, while outlining a $2.03 billion divestiture plan that will net roughly $1.8 billion after tax. Management pledged to allocate $1 billion to share repurchases and use the remaining $800 million to reduce debt, bolstering...
Hudson Pacific Properties reported a transformative 2025, completing roughly $330 million of strategic asset sales and over $2 billion of capital transactions that doubled its liquidity to $934 million. The REIT reduced net debt by 22%, improved its debt‑to‑book ratio to 31.9%, and...
Sempra reported adjusted Q3 2025 EPS of $1.11, a 25% year‑over‑year rise, while GAAP earnings fell to $0.12 per share because of a $514 million non‑recurring tax charge. The company reaffirmed its 2025‑2026 adjusted EPS guidance and highlighted a $10 billion sale...
PureCycle Technologies reported Q4 2025 revenue of $2.7 million, marking a fourth consecutive quarter of sequential growth, while achieving record production at its Denver (14 million lb processed) and Ironton (7.5 million lb produced) facilities. The company reduced feedstock procurement costs by $0.06 per pound,...
Amkor Technology reported Q4 2025 revenue of $1.89 billion, up 16% year‑over‑year, and EPS of $0.69, beating the top end of guidance. Full‑year revenue reached $6.7 billion, a 6% increase, with advanced packaging revenue setting a new record after a 7% rise....
Sequans Communications reported Q4 2025 revenue of $7 million, a 72.6% sequential rise driven primarily by product shipments, and closed the year with $27.2 million in total revenue (about $20 million on an adjusted basis). Gross margin was 37.7% (about 43% excluding inventory...
MidCap Financial Investment Corp reported Q4 2025 GAAP net income of $54.3 million ($0.42 per share) and distributable earnings of $27.8 million ($0.27 per share). The REIT acquired $1.9 billion of loans and securities, expanding its Agency MBS portfolio by over 50% and...
International Seaways reported Q3 2025 net income of $71 million ($1.42 per share) and adjusted EBITDA of $108 million, while generating roughly $63 million of free cash flow. The company ended the quarter with $985 million of total liquidity, a cash balance of $413 million...
ICF International reported Q3 2025 revenue of $465.4 million, a 10% YoY decline driven primarily by a 29.8% drop in federal contract earnings amid a government shutdown. Non‑federal segments, especially commercial energy, offset some weakness, posting 24% revenue growth and...
Morgan Stanley delivered record 2025 results, posting $70.6 billion in total revenue and a historic $10.21 earnings per share. Total client assets rose to $9.3 trillion, while wealth management generated $31.8 billion in revenue and attracted $356 billion of net new assets. The firm’s...
Delcath Systems reported record 2025 revenue of $85.2 million, driven by over 40% volume growth and 28 REMS‑certified treatment centers. Gross margins held at 85% for Q4 and 86% for the full year, while adjusted EBITDA turned positive to $25.1 million and...
PRA Group reported record financial results for 2025, with estimated remaining collections (ERC) reaching $8.6 billion, cash collections $2.1 billion and revenue $1.2 billion, all new highs. Portfolio purchases totaled $1.2 billion, matching its target and driving higher purchase‑price multiples in both the U.S....
Standard Motor Products reported Q4 2019 net sales of $241.3 million, a 2.3% decline year‑over‑year, while full‑year 2019 revenue reached $1.12 billion, up 1.6%. The company highlighted margin improvements in Engine Management, driven by the General Cable integration and cost‑reduction initiatives,...
Eagle Point Income Company reported Q3 2025 results, with NAV increasing to $14.21 per share and recurring cash flows covering distributions. Net investment income after losses was $0.26 per share, while the board reduced the monthly distribution to $0.11 amid...
Carvana reported a record 596,006 retail units sold in 2025, a 43% increase year‑over‑year, and Q4 revenue of $5.6 billion, up 58%. Adjusted EBITDA hit a new quarterly high of $511 million, while net income surged to $951 million, largely due to a...
KBR reported a solid fourth‑quarter 2020, highlighting a 20% increase in government and technology backlog and a 15% rise in adjusted EBITDA. The company emphasized its transition to Sustainable Technology Solutions, targeting over $1 billion in revenue and mid‑teens margins for...
Celsius Holdings reported Q4 2025 revenue of $725 million, a 173% year‑over‑year increase, propelled by the Alani Nu acquisition, Rockstar Energy addition, and expanded PepsiCo partnership. Gross margin rose to 51.3% as scale and mix benefits offset tariff pressures and lower‑margin...
Shake Shack reported a strong fourth‑quarter 2018, with total revenue rising 29% to $124.3 million and full‑year revenue up 28% to $459 million. The company opened 49 new restaurants—34 company‑operated and 50 licensed—across 27 states and 13 countries, delivering 2.3% same‑shack sales...
BioCryst Pharmaceuticals reported a 37% year‑over‑year rise in Orladeyo revenue to $159.1 million in Q3 and lifted its 2025 sales guidance to $590‑$600 million. The company completed the divestiture of its European business, repaid a $200 million term loan and entered Q3 with...
Pacific Gas & Electric reported full‑year 2025 core earnings of $1.50 per share, a 10% increase over 2024 and the midpoint of its guidance range. The company raised its 2026 core EPS outlook to $1.64‑$1.66, signaling another 10% growth year...
Donaldson Company reported a modest 1% sales increase to $940 million, driven by pricing and volume growth, while adjusted EPS rose 8% to $0.99 and operating margin improved by 80 basis points. Gross margin slipped 110 basis points to 34.5% as...
Lindblad Expeditions reported record Q3 2025 results, posting $240 million revenue, a 16.6% year‑over‑year increase, and a historic adjusted EBITDA of $57.3 million, up 25%. Occupancy rose to 88% despite a 5% capacity expansion, driving net yield to $1,314 per available guest...
Vital Farms reported a record $198.9 million Q4 2025 revenue, up 37 percent YoY, driven by 19 percent volume growth and a favorable price mix. Gross margin rose to 37.7 percent, surpassing its 35 percent target, while adjusted EBITDA jumped 81 percent to $27.4 million. The company...
Rocket Companies forecast adjusted Q4 2025 revenue of roughly $2.1 billion, driven by the recent Redfin and Mr. Cooper acquisitions. Operating expenses are expected to rise to about $2 billion, reflecting integration costs and severance. The Redfin deal now fuels 13% of...
iQIYI reported total revenue of RMB 6.7 billion for Q4 2025, a modest 1% sequential increase driven primarily by premium long‑form dramas and a 48% jump in distribution revenue from theatrical investments. Membership services rose 3% sequentially, while online advertising slipped 2% as...
CubeSmart reported fourth‑quarter 2025 FFO of $0.65 per share, with same‑store revenue slipping 1% and occupancy easing to 89.9%. Move‑in rates rose 2.5% year‑over‑year, marking the first positive growth since Q1 2022, while churn held steady at 4‑5% monthly. The REIT...
Oportun Financial Corp reported a fifth straight quarter of GAAP profitability, posting $25 million net income for 2025 and an 89% jump in adjusted EPS to $1.36. Credit quality improved, with the annualized net charge‑off rate at 12.3% and secured personal...
Millicom (Tigo) reported a strong Q4 2020 rebound, adding a record 2.3 million mobile users and 103 k cable customers, lifting its total subscriber base to 42 million mobile and 4.5 million broadband users. Service revenue and EBITDA were essentially flat YoY, while operating...
Applied Optoelectronics reported $103 million in Q2 2025 revenue, matching its guidance and showing modest sequential growth. Gross margin held at 30.4%, in line with the forecast, while a non‑GAAP loss of $0.16 per share missed the targeted loss range due to...
Sun Communities reported FY 2025 core FFO of $6.68 per share, topping the high end of its guidance, and a Q4 core FFO of $1.40. The REIT lowered net debt to EBITDA to 3.4x, repaid over $3.3 billion of debt, and...
Marcus Corp reported a 9.7% drop in consolidated revenue to $210 million for fiscal Q3 2025, driven primarily by a 16% decline in theater revenue and an 18.7% fall in attendance that left box‑office performance 3.8 percentage points below the national average....
