5 unexpected ways service and emotional support dogs improve and save human lives

Colleen Kilday on February 11, 2026

Five-year-old boy puts his forehead on a dog's head, holding the dog's face in his hands. — sonya etchison // Shutterstock

5 unexpected ways service and emotional support dogs improve and save human lives

Whether guiding the visually impaired, aiding in disaster relief, or comforting the distressed, dogs have selflessly served humanity since the human-dog bond took its modern form. Using news reports and studies, Pettable explored new and unique ways organizations are using these assistance dogs.

One of the earliest instances of dogs helping humans can be found in wall paintings dating as far back as the first century A.D. There is also documentation of dogs helping people who were blind in Europe from the 19th century, but the first modern service dogs came about during World War I. These dogs attended to German soldiers who were blinded by mustard gas, leading to the establishment of the first guide dog school for blind people in Oldenburg, Germany, in 1916. Dorothy Harrison Eustis is credited with introducing the concept to the United States on the premise of enabling independence for those who are blind.

It was only later that dogs were also used beyond helping humans manage their mobility, leading to dogs that serve those with physical disabilities and even psychiatric disorders. Because of their loyalty, intelligence, and enthusiasm, dogs are well-suited to attend to those with chronic impairments. Some studies have even shown that the presence of dogs is linked to health benefits, including decreased blood pressure and heart health.

There are important distinctions between each type of dog and the assistance they offer, however. Under the Americans with Disabilities Act, service dogs must undergo strict training to earn their titles. Selected trainees usually are resilient to distraction and are highly responsive to training.

Dogs can also offer assistance beyond helping with disabilities, and these animals fall outside of the ADA’s purview. Other types of assistance animals can offer comfort in emergency situations, alleviate some symptoms of a person’s disability, and even be a critical part of search and rescue efforts.

Smiling senior man sitting on his couch at home while petting a golden retriever in front of him. — Monkey Business Images // Shutterstock

Personalized service for children with developmental disabilities

Children with autism or developmental conditions face an array of highly personal challenges. NEADS World Class Service Dogs, based in Princeton, Massachusetts, selects and trains dogs that are particularly good with children. It also aims to match these youth with dogs that best suit their individual needs and personalities.

For example, a child who struggles with moving from one activity to another could exercise the dog to ease the transition; while a child who struggles with socializing or speaking may benefit most from a dog that would elicit predictable questions from inquiring adults that a child could practice answering. After a comprehensive training process for the dog, families spend one to two weeks on the organization’s 18-acre campus learning to live and work with their new service companion.Â Other organizations that train dogs to serve children with autism or developmental disabilities include Little Angels Service Dogs.

Woman sitting in a yellow armchair with a Chihuahua on her lap. — Bignai // Shutterstock

Helping survivors of trafficking and domestic abuse

The Freedom K9 Project is an organization established specifically to serve survivors of sex trafficking and domestic abuse who developed post-traumatic stress disorder. While service dogs have long been used to aid veterans’ PTSD recovery, they offer substantial benefits to sufferers of other types of trauma as well.

Given that one of the major symptoms of PTSD is hypervigilance, the companionship of a loyal dog can help the individual feel less vulnerable when navigating the world. Because the dog relies on its human to provide food and exercise, its natural needs can spur its owner to develop structure and routine as well. The organization has also developed a partner network, the Freedom K9 Coalition, to further expand access to PTSD service dogs.

A boy in wheelchair reading book with service dog. — Africa Studio // Shutterstock

Easing reading anxiety

Intermountain Therapy Animals, based in Salt Lake City, has pioneered the concept of animal-assisted education since it established the Reading Education Assistance Dogs program, aka R.E.A.D program, in 1999.

Children who become frustrated or stressed while reading out loud may find it easier to read to a nonjudgmental and fluffy friend. It also helps kids build a more positive relationship with reading, especially for those who have struggled beforehand. A review of research about dogs, children, and cognitive performance from Canterbury Christ Church University suggests that the presence of a dog can enhance children’s cognitive performance by helping ease anxiety and stress.

A person sitting on a couch with a laptop on her lap and black Great Dane resting their head on the woman's knee. — Ground Picture // Shutterstock

Detecting the presence of allergens

Food allergy rates and hospitalizations due to anaphylaxis are each on the rise. Allergen Detection Service Dogs is at the forefront of enlisting dogs to help combat the growing challenge.

The Colorado-based organization was founded to train dogs to detect allergens such as peanuts but has since successfully trained dogs to detect other allergens including gluten and latex. After training in scent detection, these service dogs are able to alert owners to potential traces of their allergens in the environment. However, allergen detection dogs are not yet able to identify signs of anaphylaxis onset per the organization.

Man in wheelchair with service dog outside. — 24K-Production // Shutterstock

Becoming a battle buddy

Warriors Heart is an organization with locations in Texas and Virginia dedicated to providing military veterans and first responders with treatment services for conditions including substance use disorder, PTSD, and mild traumatic brain injuries. Substance use and PTSD frequently concur: according to the Department of Veterans Affairs, 20% of veterans with PTSD also have SUD. Additionally, VA estimates that more than half of veterans could potentially have substance abuse disorder.

The program has facilities to house up to 22 service dogs who don’t have homes or are in need of a new service assignment and trains them to specifically meet their handler’s needs spanning nightmare interruption to simply establishing a routine. Upon completing their treatment program, patients are given the opportunity to adopt the dog that they have bonded with, now called their “battle buddy.”

Story editing by Carren Jao. Copy editing by Lois Hince.

This story was produced by
Mechanism Ventures and was produced and
distributed in partnership with
Stacker.

New PissedConsumer.com Collective Complaint Tool Unites and Amplifies Consumer Voices

PissedConsumer on February 11, 2026

New PissedConsumer.com Collective Complaint Tool Unites and Amplifies Consumer Voices

PR Newswire

NEW YORK, Feb. 3, 2026

Online review and consumer advocacy website, PissedConsumer.com, launched a new collective complaint feature to unite consumers over common concerns while seeking resolutions from companies.

NEW YORK, Feb. 3, 2026 /PRNewswire/ — PissedConsumer launched a collective complaint feature enabling consumers to band together over shared dissatisfaction with companies’ customer service, policies, and more. Collective complaints aim to amplify common issues and pose preferred solutions consumers want companies to pursue.

Collective complaints involve an initial complaint or concern posed by a consumer. That consumer can then seek signatures from others with similar experiences or those who support their call for a resolution. The original user has 30 days to gather 20 signatures. If 20 signatures are collected, PissedConsumer will forward the collective complaint to the company. If that goal is not reached, the posted complaint will be converted to a consumer review and will still be shared on PissedConsumer.com.

“For 20 years, PissedConsumer’s online platform has given consumers a voice,” said Michael Podolsky, CEO of PissedConsumer.com. “We want to be even more responsive to our users’ needs, amplifying consumer voices through unity and collective responses to the issues they face. That’s why we launched the new collective complaint feature. We want to help consumers work towards a resolution.”

PissedConsumer collective complaints help consumers:

create a public record of support from others affected by a company’s actions or policies;
show businesses that their complaints are more than one-off anecdotes;
get companies’ attention to increase their chances of achieving resolutions.

Collective complaints go a step further than the consumer reviews PissedConsumer.com is known for. Reviews look to warn fellow consumers and share individual experiences. Collective complaints aim to drive action by uniting consumer voices to push for change or resolutions to shared concerns.

“The collective complaint feature doesn’t only benefit consumers,” said Podolsky. “Businesses can think of it as a sort of early warning system. They can identify repeat or systemic issues before they pose serious reputational risks to a company. Each collective complaint provides companies with an opportunity to address concerns to maintain or rebuild trust with their customers and the public.”

For more information on how the collective complaint feature works, please visit https://help-center.pissedconsumer.com/collective-complaint-feature/.

To submit a collective complaint, please visit https://www.pissedconsumer.com/collective-complaint-form/login.html

About PissedConsumer.com

PissedConsumer.com is an online review and consumer advocacy platform where more than 28 million registered and verified users read, watch, and voice customer service concerns. On the website, consumers can research over 244 thousand companies, products, and services across 160 categories before making purchasing decisions, or contact companies in question via phone or by sending messages. PissedConsumer.com also provides review management services, having helped over 500 companies improve their brand image, online reputation, and customer relations. The company is led by CEO and co-founder Michael Podolsky, an entrepreneur and recognized industry thought leader.

For more information about the new PissedConsumer collective complaint feature, please visit https://www.pissedconsumer.com or contact Joanna Clark-Simpson at media@pissedconsumer.com.

Contact:
Joanna Clark-Simpson, Media Relations
Consumer Opinion LLC
1930 Village Center Circle #3-6853
Las Vegas, NV 89134

Email: media@pissedconsumer.com
Web: https://www.PissedConsumer.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/new-pissedconsumercom-collective-complaint-tool-unites-and-amplifies-consumer-voices-302676324.html

SOURCE PissedConsumer.com

Merck & Co., Inc., Rahway, N.J., USA Announces Fourth-Quarter and Full-Year 2025 Financial Results; Highlights Progress Advancing Broad, Diverse Pipeline

Business Wire on February 11, 2026

Merck & Co., Inc., Rahway, N.J., USA (NYSE: MRK), known as MSD outside the United States and Canada, today announced financial results for the fourth quarter and full year of 2025.

“In 2025, we continued to advance leading-edge science to deliver transformative medicines and vaccines that are improving health outcomes for patients around the world,” said Robert M. Davis, chairman and chief executive officer. “Our business benefited from demand for our innovative portfolio, including for KEYTRUDA, increasing contributions from new launches in cardiometabolic and respiratory as well as vaccines, and strong performance of Animal Health. The transformation of our portfolio, bolstered by the acquisitions of Verona Pharma and Cidara Therapeutics, is well underway, and momentum is building as we continue to execute on our strategy. Our progress positions us to continue delivering on our purpose for patients and creating durable value for shareholders.”

Financial Summary

$ in millions, except EPS amounts	Fourth Quarter				Year Ended
$ in millions, except EPS amounts	2025	2024	Change	Change Ex-Exchange	Dec. 31, 2025	Dec. 31, 2024	Change	Change Ex-Exchange
Sales	$16,400	$15,624	5%	4%	$65,011	$64,168	1%	2%
GAAP net income¹	2,963	3,743	-21%	-20%	18,254	17,117	7%	9%
Non-GAAP net income that excludes certain items^1,2*	5,088	4,372	16%	17%	22,513	19,444	16%	18%
GAAP EPS	1.19	1.48	-20%	-18%	7.28	6.74	8%	10%
Non-GAAP EPS that excludes certain items^2*	2.04	1.72	19%	19%	8.98	7.65	17%	19%
*Refer to table on page 9.

Generally Accepted Accounting Principles (GAAP) earnings per share (EPS) assuming dilution was $1.19 for the fourth quarter and $7.28 for the full year of 2025. Non-GAAP EPS was $2.04 for the fourth quarter and $8.98 for the full year of 2025. GAAP and non-GAAP EPS in the fourth quarter of 2025 include a charge of $0.05 per share related to an agreement with Dr. Falk Pharma GmbH (Falk) pursuant to which the Company secured the sole global rights to MK-8690. GAAP and non-GAAP EPS in the fourth quarter of 2024 include a charge of $0.23 per share related to the execution of licensing agreements with LaNova Medicines Ltd. (acquired by Sino Pharmaceutical Limited) and Hansoh Pharma. GAAP and non-GAAP EPS for the full years of 2025 and 2024 include charges of $0.20 and $1.28 per share, respectively, related to certain licensing agreements and asset acquisitions.

Non-GAAP EPS excludes acquisition- and divestiture-related costs, costs related to restructuring programs, and income and losses from investments in equity securities. Non-GAAP EPS in 2025 also excludes a net tax benefit, which reflects a net benefit related to favorable audit reserve adjustments. Non-GAAP EPS in the fourth quarter and full year of 2024 also exclude a benefit due to a reduction in reserves for unrecognized income tax benefits resulting from the expiration of the statute of limitations for assessments related to certain federal tax return years.

Fourth-Quarter Sales Performance

The following table reflects sales of the Company’s top products and significant performance drivers.

	Fourth Quarter
$ in millions	2025	2024	Change	Change Ex-Exchange	Commentary
Total Sales	$16,400	$15,624	5%	4%
Pharmaceutical	14,843	14,042	6%	4%	Increase primarily driven by growth in oncology as well as cardiometabolic and respiratory, partially offset by a decline in vaccines.
KEYTRUDA/ KEYTRUDA QLEX	8,372	7,836	7%	5%	Growth driven by strong global uptake in earlier-stage indications, including triple-negative breast cancer (TNBC), non-small cell lung cancer (NSCLC), renal cell carcinoma, cervical and head and neck cancers, as well as continued global demand in metastatic indications, including urothelial, gastric and endometrial cancers. Sales growth was partially offset by timing of purchases in the U.S. Sales of KEYTRUDA QLEX were $35 million.
GARDASIL/ GARDASIL 9	1,031	1,550	-34%	-35%	Decline primarily due to lower demand in China, as well as lower sales in Japan following the national catch-up immunization program, partially offset by higher sales in the U.S. and timing in certain international markets.
PROQUAD, M-M-R II and VARIVAX	619	594	4%	3%	Increase primarily reflects higher sales of PROQUAD, which largely resulted from both the replenishment of doses borrowed from the U.S. Centers for Disease Control and Prevention Pediatric Vaccine Stockpile and from higher demand in Europe, partially offset by lower demand for M-M-R II in certain international markets and lower demand for VARIVAX in the U.S.
JANUVIA/JANUMET	501	487	3%	3%	Growth driven by higher net pricing in the U.S., partially offset by lower demand in China as well as in most other international markets due to generic competition.
BRIDION	499	449	11%	11%	Growth primarily due to higher demand and net pricing in the U.S., partially offset by lower demand in several international markets due to ongoing generic competition.
WINREVAIR	467	200	133%	133%	Growth primarily reflects continued uptake in the U.S. and early launch uptake in certain international markets, partially offset by lower net pricing in the U.S. largely due to Medicare Part D redesign.
Lynparza*	389	365	7%	4%	Growth primarily due to higher demand in several international markets.
CAPVAXIVE	279	50	N/M	N/M	Growth largely due to continued uptake in the U.S.
PREVYMIS	275	215	28%	26%	Increase primarily due to higher demand in the U.S. as well as in most international markets, reflecting in part the launch of new indications.
Lenvima*	272	255	7%	6%	Increase due to higher sales in the U.S., primarily reflecting higher demand, partially offset by lower pricing.
WELIREG	220	160	37%	37%	Growth primarily due to higher demand in the U.S. and continued launch uptake in several international markets, partially offset by lower net pricing in the U.S.
OHTUVAYRE	178	–	–	–	Represents sales following the Company’s Oct. 7, 2025 acquisition of Verona Pharma plc (Verona Pharma).
Animal Health	1,505	1,397	8%	6%	Growth primarily due to higher demand of livestock products.
Livestock	987	889	11%	9%	Growth primarily driven by higher demand across all species, as well as improved supply and new product launches.
Companion Animal	518	508	2%	0%	Growth from new product launches was partially offset by lower demand for other products in portfolio, reflecting a reduction in veterinary visits. Sales of BRAVECTO line of products were $222 million and $209 million in current and prior-year quarters, respectively, which represents an increase of 6%, or 5% excluding impact of foreign exchange.
Other Revenues**	52	185	-71%	-15%	Decline primarily due to unfavorable impact of revenue-hedging activities and lower revenue from third-party manufacturing arrangements.

*Alliance revenue for this product represents the Company’s share of profits, which are product sales net of cost of sales and commercialization costs.

**Other revenues are comprised primarily of revenues from third-party manufacturing arrangements and miscellaneous corporate revenues, including revenue-hedging activities.

N/M – Not meaningful.

Full-Year Sales Performance

The following table reflects sales of the Company’s top products and significant performance drivers.

	Year Ended
$ in millions	Dec. 31, 2025	Dec. 31, 2024	Change	Change Ex-Exchange
Total Sales	$65,011	$64,168	1%	2%
Pharmaceutical	58,142	57,400	1%	1%
KEYTRUDA/KEYTRUDA QLEX	31,680	29,482	7%	7%
GARDASIL/GARDASIL 9	5,233	8,583	-39%	-39%
JANUVIA/JANUMET	2,544	2,268	12%	13%
PROQUAD, M-M-R II and VARIVAX	2,451	2,485	-1%	-2%
BRIDION	1,841	1,764	4%	4%
Lynparza*	1,450	1,311	11%	10%
WINREVAIR	1,443	419	N/M	N/M
Lenvima*	1,053	1,010	4%	4%
PREVYMIS	978	785	25%	23%
VAXNEUVANCE	825	808	2%	1%
CAPVAXIVE	759	97	N/M	N/M
WELIREG	716	509	41%	41%
ROTATEQ	673	711	-5%	-5%
Reblozyl*	525	371	41%	41%
LAGEVRIO	380	964	-61%	-61%
Simponi**	–	543	-100%	-100%
Animal Health	6,354	5,877	8%	9%
Livestock	3,896	3,462	13%	14%
Companion Animal	2,458	2,415	2%	2%
Other Revenues***	515	891	-42%	-6%

*Alliance revenue for Lynparza and Lenvima represent the Company’s share of profits, which are product sales net of cost of sales and commercialization costs. Alliance revenue for Reblozyl represents royalties.

**Marketing rights in former territories of the Company reverted to Johnson & Johnson on Oct. 1, 2024.

***Other revenues are comprised primarily of revenues from third-party manufacturing arrangements and miscellaneous corporate revenues, including revenue-hedging activities.

N/M – Not meaningful.

In addition, Koselugo alliance revenue was $436 million for the full year of 2025 compared with $170 million for the full year of 2024. The increase was due to an amendment to the collaboration agreement with AstraZeneca in 2025, which discontinued the provisions whereby the Company shared revenue and costs with AstraZeneca, and revised the payment structure, resulting in the Company’s recognition of a $150 million upfront payment and $175 million of regulatory milestones.

Full-year 2025 Pharmaceutical sales were $58.1 billion, representing growth of 1% both nominally and excluding the impact of foreign exchange. Sales growth was primarily driven by higher sales in oncology, particularly KEYTRUDA and WELIREG, as well as increased alliance revenue from Koselugo (resulting from the amendment to the collaboration agreement noted above), Reblozyl and Lynparza. Also contributing to sales growth were higher sales in the cardiometabolic and respiratory franchise largely attributable to the ongoing launch of WINREVAIR, as well as the inclusion of OHTUVAYRE sales resulting from the acquisition of Verona Pharma, which closed on Oct. 7, 2025. Growth in the diabetes franchise, largely attributable to higher net pricing of JANUVIA in the U.S., also contributed to sales growth. Sales growth in 2025 was partially offset by lower sales in the vaccines franchise reflecting lower sales of GARDASIL/GARDASIL 9, which were offset in part by the ongoing launch of CAPVAXIVE and the U.S. launch of ENFLONSIA. Lower sales in the immunology franchise (due to the return of the marketing rights for Simponi and Remicade in former Company territories to Johnson & Johnson on Oct. 1, 2024) and lower sales in the virology franchise (largely attributable to LAGEVRIO) also offset Pharmaceutical sales growth in 2025.

Full-year 2025 Animal Health sales were $6.4 billion, representing growth of 8%, or 9% excluding the impact of foreign exchange. Sales growth was primarily driven by the performance of Livestock products across all species and new product launches in Companion Animal. Sales of the BRAVECTO line of products were $1.1 billion in 2025, representing growth of 1% both nominally and excluding the impact of foreign exchange.

Fourth-Quarter and Full-Year Expense and Related Information

The table below presents selected expense information.

$ in millions	GAAP	Acquisition- and Divestiture- Related Costs³	Restructuring Costs	(Income) Loss From Investments in Equity Securities	Non- GAAP²
Fourth Quarter 2025
Cost of sales	$5,551	$1,054	$1,173	$-	$3,324
Selling, general and administrative	2,898	48	2	–	2,848
Research and development	3,886	5	(111)	–	3,992
Restructuring costs	213	–	213	–	–
Other (income) expense, net	432	–	–	206	226

Fourth Quarter 2024
Cost of sales	$3,828	$701	$121	$-	$3,006
Selling, general and administrative	2,864	29	16	–	2,819
Research and development	4,585	12	(1)	–	4,574
Restructuring costs	51	–	51	–	–
Other (income) expense, net	126	(31)	–	152	5

$ in millions	GAAP	Acquisition- and Divestiture- Related Costs³	Restructuring Costs	(Income) Loss From Investments in Equity Securities	Non- GAAP²
Year Ended Dec. 31, 2025
Cost of sales	$16,382	$2,871	$1,484	$-	$12,027
Selling, general and administrative	10,733	120	3	–	10,610
Research and development	15,789	19	175	–	15,595
Restructuring costs	889	–	889	–	–
Other (income) expense, net	151	(3)	–	(306)	460

Year Ended Dec. 31, 2024
Cost of sales	$15,193	$2,409	$495	$-	$12,289
Selling, general and administrative	10,816	117	83	–	10,616
Research and development	17,938	72	1	–	17,865
Restructuring costs	309	–	309	–	–
Other (income) expense, net	(24)	(79)	–	45	10

GAAP Expense, EPS and Related Information

Gross margin was 66.2% for the fourth quarter of 2025 compared with 75.5% for the fourth quarter of 2024. Gross margin was 74.8% for the full year of 2025 compared with 76.3% for the full year of 2024. The gross margin decline in both periods was primarily due to the unfavorable impacts of higher restructuring costs (primarily related to the accelerated depreciation of manufacturing lines at two sites under the 2025 Restructuring Program), inventory write-offs and amortization of intangible assets, as well as the recognition of inventory fair value step-up related to the Verona Pharma acquisition, partially offset by the favorable impact of product mix.

Selling, general and administrative (SG&A) expenses were $2.9 billion in the fourth quarter of 2025, an increase of 1% compared with the fourth quarter of 2024. The increase was primarily due to higher administrative costs, partially offset by lower promotional costs. Full-year 2025 SG&A expenses were $10.7 billion, a decrease of 1% compared with the full year of 2024. The decrease was primarily due to lower restructuring and promotional costs, partially offset by increased administrative costs.

Research and development (R&D) expenses were $3.9 billion in the fourth quarter of 2025, a decrease of 15% compared with the fourth quarter of 2024. The decrease was primarily due to lower charges for business development activity and a reduction to estimated contractual termination costs associated with restructuring actions, partially offset by higher clinical development costs. R&D expenses were $15.8 billion for the full year of 2025, a decrease of 12% compared with the full year of 2024. The decrease was primarily due to lower charges for business development activity, partially offset by higher clinical development spending and higher restructuring costs.

Other (income) expense, net, was $432 million of expense in the fourth quarter of 2025 compared with $126 million of expense in the fourth quarter of 2024 primarily due to higher net interest expense, higher foreign exchange losses and increased net losses from investments in equity securities. Other (income) expense, net, was $151 million of expense in the full year of 2025 compared with $24 million of income in the full year of 2024. The unfavorable year-over-year change primarily reflects $170 million of income in 2024 related to the expansion of an existing development and commercialization agreement with Daiichi Sankyo, as well as higher net interest expense and higher foreign exchange losses in 2025, partially offset by higher net income from investments in equity securities in 2025.

The effective tax rate was 13.4% for the fourth quarter of 2025 and 13.3% for the full year of 2025.

GAAP EPS was $1.19 for the fourth quarter of 2025 compared with $1.48 for the fourth quarter of 2024. The decrease was primarily driven by higher restructuring costs and amortization of intangible assets, partially offset by favorability from lower charges for business development transactions, as well as operational strength in the business driven in part by the benefits of the previously announced multiyear optimization initiative. GAAP EPS was $7.28 for the full year of 2025 compared with $6.74 for the full year of 2024. The increase was primarily driven by favorability from lower charges for business development transactions and operational strength in the business, partially offset by higher restructuring costs and amortization of intangible assets.

Non-GAAP Expense, EPS and Related Information

Non-GAAP gross margin was 79.7% for the fourth quarter of 2025 compared with 80.8% for the fourth quarter of 2024. The decrease was primarily due to higher inventory write-offs, partially offset by the favorable impact of product mix. Non-GAAP gross margin was 81.5% for the full year of 2025 compared with 80.8% for the full year of 2024. The increase was primarily due to the favorable impact of product mix, partially offset by higher inventory write-offs.

Non-GAAP SG&A expenses were $2.8 billion in the fourth quarter of 2025, an increase of 1% compared with the fourth quarter of 2024. The increase was primarily due to higher administrative costs, partially offset by lower promotional costs. Non-GAAP SG&A expenses were $10.6 billion for the full year of 2025, flat compared with the full year of 2024 as lower promotional costs were largely offset by higher administrative costs.

Non-GAAP R&D expenses were $4.0 billion in the fourth quarter of 2025, a decrease of 13% compared with the fourth quarter of 2024. Non-GAAP R&D expenses were $15.6 billion for the full year of 2025, a decrease of 13% compared with the full year of 2024. The decrease in both periods was primarily due to lower charges for business development activity, partially offset by higher clinical development costs.

Non-GAAP other (income) expense, net, was $226 million of expense in the fourth quarter of 2025 compared with $5 million of expense in the fourth quarter of 2024 primarily due to higher net interest expense and higher foreign exchange losses. Non-GAAP other (income) expense, net, was $460 million of expense in the full year of 2025 compared with $10 million of expense in the full year of 2024. The unfavorable year-over-year change primarily reflects $170 million of income in 2024 related to the expansion of an existing development and commercialization agreement with Daiichi Sankyo, as well as higher net interest expense and higher foreign exchange losses in 2025.

The non-GAAP effective tax rate was 15.4% for the fourth quarter of 2025 and 14.4% for the full year of 2025.

Non-GAAP EPS was $2.04 for the fourth quarter of 2025 compared with $1.72 for the fourth quarter of 2024. Non-GAAP EPS was $8.98 for the full year of 2025 compared with $7.65 for the full year of 2024. The increase in both periods was primarily driven by favorability from lower charges for business development transactions, as well as operational strength in the business driven in part by the benefits of the previously announced multiyear optimization initiative.

A reconciliation of GAAP to non-GAAP net income and EPS is provided in the table that follows.

	Fourth Quarter		Year Ended
$ in millions, except EPS amounts	2025	2024	Dec. 31, 2025	Dec. 31, 2024
EPS
GAAP EPS	$1.19	$1.48	$7.28	$6.74
Difference	0.85	0.24	1.70	0.91
Non-GAAP EPS that excludes items listed below²	$2.04	$1.72	$8.98	$7.65

Net Income
GAAP net income¹	$2,963	$3,743	$18,254	$17,117
Difference	2,125	629	4,259	2,327
Non-GAAP net income that excludes items listed below^1,2	$5,088	$4,372	$22,513	$19,444

Excluded Items:
Acquisition- and divestiture-related costs³	$1,107	$711	$3,007	$2,519
Restructuring costs	1,277	187	2,551	888
Loss (income) from investments in equity securities	206	152	(306)	45
Decrease to net income before taxes	2,590	1,050	5,252	3,452
Estimated income tax (benefit) expense⁴	(465)	(421)	(993)	(1,125)
Decrease to net income	$2,125	$629	$4,259	$2,327

Pipeline and Portfolio Highlights

In 2025, the Company announced positive late-stage trial results from 18 Phase 3 trials and began enrolling patients in 21 new Phase 3 studies evaluating multiple indications and therapeutic areas, with approximately 80 Phase 3 studies currently underway.

Throughout the fourth quarter, the Company made important progress to advance its broad, diverse pipeline, meeting significant regulatory and clinical milestones.

Oncology:
- U.S. Food and Drug Administration (FDA) approved KEYTRUDA and KEYTRUDA QLEX, each in combination with Padcev, for the perioperative treatment of adult patients with muscle-invasive bladder cancer (MIBC) who are ineligible for cisplatin-based chemotherapy based on Phase 3 KEYNOTE-905 trial.
  - Approvals represent the first PD-1 inhibitor plus antibody-drug conjugate (ADC) regimens for this patient population.
- FDA awarded a priority review voucher under the Commissioner’s National Priority Voucher (CNPV) pilot program for sac-TMT, an investigational anti-TROP2 ADC being developed in collaboration with Kelun-Biotech.
- European Commission (EC) approved the subcutaneous route of administration and new pharmaceutical formulation of KEYTRUDA for use across all KEYTRUDA indications for adult patients in Europe.
- FDA accepted two supplemental Biologics License Applications (sBLAs) for KEYTRUDA and KEYTRUDA QLEX, each with Trodelvy, for the first-line treatment of certain patients with PD-L1+ inoperable (unresectable) locally advanced or metastatic TNBC based on Phase 3 KEYNOTE-D19/ASCENT-04 trial.
  - FDA set Prescription Drug User Fee Act (PDUFA) dates in the second half of 2026 for these applications.
- Announced positive topline results from Phase 3 KEYNOTE-B15 trial in patients with MIBC who are eligible for cisplatin-based chemotherapy showing KEYTRUDA plus Padcev significantly improved event-free survival (EFS), overall survival (OS) and pathologic complete response (pCR) rates versus neoadjuvant chemotherapy and surgery when given before and after surgery.
- In collaboration with Moderna, Inc. (Moderna), announced median five-year follow-up data from Phase 2b KEYNOTE-942/mRNA-4157-P201 study for intismeran autogene, an investigational mRNA-based individualized neoantigen therapy, in combination with KEYTRUDA in patients with high-risk melanoma (stage III/IV) following complete resection.
Infectious Diseases:
- Announced positive topline results from the Phase 3 trial of the investigational, once-daily, oral, two-drug, single-tablet regimen of doravirine/islatravir (DOR/ISL) for the treatment of adults with HIV-1 infection who had not previously received antiretroviral treatment (treatment-naïve).
Cardiometabolic and Respiratory:
- Presented new data at the American Heart Association Scientific Sessions 2025, including results from the Phase 3 CORALreef Lipids and heterozygous familial hypercholesterolemia (HeFH) trials, demonstrating that enlicitide decanoate, an investigational, oral proprotein convertase subtilisin/kexin type 9 (PCSK9) inhibitor being evaluated for the treatment of adults with hypercholesterolemia, significantly reduced low-density lipoprotein cholesterol (LDL-C) with a safety profile comparable to placebo.
  - FDA awarded a priority review voucher under the CNPV pilot program for enlicitide decanoate.
- In January 2026, EC approved an expanded indication for WINREVAIR, in combination with other pulmonary arterial hypertension (PAH) therapies, for the treatment of PAH (Group 1 pulmonary hypertension) in adult patients with World Health Organization (WHO) Functional Class II, III and IV based on Phase 3 ZENITH trial.
- In February 2026, FDA accepted a new sBLA for WINREVAIR seeking approval to update the U.S. product label based on Phase 3 HYPERION trial.
  - FDA set PDUFA date of September 21, 2026.
- Announced that Phase 2, proof-of-concept CADENCE study evaluating WINREVAIR in adults for the treatment of combined post- and precapillary pulmonary hypertension (CpcPH) due to heart failure with preserved ejection fraction (HFpEF) met its primary endpoint.
Business Development:
- In 2026, completed acquisition of Cidara Therapeutics, Inc. (Cidara) for a total transaction value of approximately $9.2 billion.
  - Added MK-1406 (formerly CD388), an investigational long-acting, strain-agnostic antiviral agent designed to prevent influenza infection in individuals at higher risk of complications, to the Company’s portfolio.
  - MK-1406 is currently being evaluated in the Phase 3 ANCHOR study.
- Entered into strategic financing agreement with Blackstone Life Sciences to partially fund the development of sac-TMT in 2026.
- Entered into an agreement with Falk for certain development and commercialization rights to MK-8690, an investigational anti-CD30 ligand monoclonal antibody.

Notable recent news releases on the Company’s pipeline and portfolio are provided in the table that follows. Visit the News Releases section of the Company’s website to read the releases.*

Oncology	FDA Approved KEYTRUDA and KEYTRUDA QLEX, Each With Padcev, as Perioperative Treatment for Adults With Cisplatin-Ineligible MIBC; Based on Results From Phase 3 KEYNOTE-905 Trial
	EC Approved Subcutaneous Administration of KEYTRUDA for All Adult Indications Approved in EU; Based on Results From Phase 3 3475A-D77 Trial
	KEYTRUDA Plus Padcev Significantly Improved EFS, OS and pCR Rates for Cisplatin-Eligible Patients With MIBC When Given Before and After Surgery; Based on Results From Phase 3 KEYNOTE-B15 Trial
	The Company and Moderna Announced 5-Year Data for Intismeran Autogene in Combination With KEYTRUDA Demonstrated Sustained Improvement in the Primary Endpoint of Recurrence-Free Survival in Patients With High-Risk Stage III/IV Melanoma Following Complete Resection; Based on Follow-up Analysis From Phase 2b KEYNOTE-942/mRNA-4157-P201 Trial
	The Company Initiated Phase 3 KANDLELIT-007 Trial Evaluating Calderasib (MK-1084), an Investigational Oral KRAS G12C Inhibitor, in Combination With KEYTRUDA QLEX in Certain Patients With Advanced NSCLC
	The Company Presented Data at the American Society of Hematology Annual Meeting 2025 That Showcased Continued Advancements in Hematology Pipeline and Novel Therapeutic Approaches
Vaccines and Infectious Diseases	The Company Announced Positive Topline Results From Pivotal Phase 3 Trial Evaluating Investigational, Once-Daily, Oral, Two-Drug, Single-Tablet Regimen of DOR/ISL in Treatment-Naïve Adults With HIV-1 Infection
Cardiometabolic and Respiratory	Enlicitide Decanoate Significantly Reduced LDL-C in Phase 3 CORALreef Lipids Trial
	Enlicitide Decanoate Significantly Reduced LDL-C in Adults With HeFH in Phase 3 CORALreef HeFH Trial
	WINREVAIR Met Primary Endpoint in Phase 2, Proof-Of-Concept CADENCE Study in Adults With CpcPH Due to HFpEF
Neuroscience	The Company Showcased Data for Alzheimer’s Disease Candidates MK-2214 and MK-1167 at Clinical Trials on Alzheimer’s Disease 2025
Animal Health	FDA Conditionally Approved EXZOLT CATTLE-CA1 for Prevention and Treatment of New World Screwworm (Cochliomyia Hominivorax) Larvae (Myiasis)

*References to the Company’s name in the above news release titles have been modified for the purpose of this announcement.

U.S. Government Agreement

The Company reached an agreement with the U.S. government that is intended to lower medicine costs for Americans. This agreement enables the Company to continue its long-standing commitment to advancing breakthrough scientific discoveries for patients and helps ensure Americans can access the medicines they need at lower costs. The voluntary agreement addresses all four components of the President’s July letter.

Under the agreement, among other things, the Company plans to provide key products through a direct-to-patient program at affordable prices for eligible patients in the U.S. In addition, the Company reached an understanding with the U.S. Department of Commerce to delay Section 232 tariffs for three years, enabling the Company to make investments in the U.S. to reshore manufacturing for American patients. The Company has committed more than $70 billion in capital and R&D spending to strengthen U.S. production and innovation.

Full-Year 2026 Financial Outlook

The following table summarizes the Company’s full-year financial outlook.

	Full Year 2026
Sales^*	$65.5 billion to $67.0 billion
Non-GAAP Gross margin²	Approximately 82%
Non-GAAPOperating expenses^2**	$35.9 billion to $36.9 billion
Non-GAAPOther (income) expense, net²	Approximately $1.3 billion expense
Non-GAAPEffective tax rate²	23.5% to 24.5%
Non-GAAPEPS^2***	$5.00 to $5.15
Share count (assuming dilution)	Approximately 2.48 billion

*The Company does not have any non-GAAP adjustments to sales.

**Includes a one-time charge of approximately $9.0 billion associated with the acquisition of Cidara. Outlook does not assume any additional significant potential business development transactions.

***Includes a one-time charge of approximately $3.65 per share associated with the acquisition of Cidara.

The Company has not provided a reconciliation of forward-looking non-GAAP gross margin, non-GAAP operating expenses, non-GAAP other (income) expense, net, non-GAAP effective tax rate and non-GAAP EPS to the most directly comparable GAAP measures, given it cannot predict with reasonable certainty the amounts necessary for such a reconciliation, including intangible asset impairment charges, legal settlements, and income and losses from investments in equity securities either owned directly or through ownership interests in investment funds, without unreasonable effort. These items are inherently difficult to forecast and could have a significant impact on the Company’s future GAAP results.

The Company anticipates full-year 2026 sales to be between $65.5 billion and $67.0 billion, including a positive impact from foreign exchange of approximately 1% at mid-January 2026 exchange rates.

The Company’s full-year non-GAAP effective income tax rate is expected to be between 23.5% and 24.5% including the impact of the non-tax deductible one-time charge for the acquisition of Cidara.

The Company expects full-year 2026 non-GAAP EPS to be between $5.00 and $5.15, including a positive impact from foreign exchange of approximately $0.10 per share at mid-January 2026 exchange rates. This range includes a one-time charge of approximately $9.0 billion, or approximately $3.65 per share, as well as approximately $0.30 per share of related financing and operational costs, related to the acquisition of Cidara. In 2025, non-GAAP EPS of $8.98 was negatively impacted by one-time charges of $0.20 per share related to certain business development transactions.

Consistent with past practice, the financial outlook does not assume additional significant potential business development transactions.

Non-GAAP EPS excludes acquisition- and divestiture-related costs, costs related to restructuring programs, as well as income and losses from investments in equity securities.

Earnings Conference Call

Investors, journalists and the general public may access a live audio webcast of the call on Tuesday, Feb. 3, at 9 a.m. ET via this weblink. A replay of the webcast, along with the sales and earnings news release, supplemental financial disclosures and slides highlighting the results, will be available on the Company’s website.

All participants may join the call by dialing (800) 369-3351 (U.S. and Canada Toll-Free) or (517) 308-9448 and using the access code 9818590.

About Our Company

At Merck & Co., Inc., Rahway, N.J., USA, known as MSD outside of the United States and Canada, we are unified around our purpose: We use the power of leading-edge science to save and improve lives around the world. For more than 130 years, we have brought hope to humanity through the development of important medicines and vaccines. We aspire to be the premier research-intensive biopharmaceutical company in the world – and today, we are at the forefront of research to deliver innovative health solutions that advance the prevention and treatment of diseases in people and animals. We foster a diverse and inclusive global workforce and operate responsibly every day to enable a safe, sustainable and healthy future for all people and communities.

Forward-Looking Statement of Merck & Co., Inc., Rahway, N.J., USA

This news release of Merck & Co., Inc., Rahway, N.J., USA (the “Company”) includes “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based upon the current beliefs and expectations of the Company’s management and are subject to significant risks and uncertainties. There can be no guarantees with respect to pipeline candidates that the candidates will receive the necessary regulatory approvals or that they will prove to be commercially successful. If underlying assumptions prove inaccurate or risks or uncertainties materialize, actual results may differ materially from those set forth in the forward-looking statements.

Risks and uncertainties include but are not limited to, general industry conditions and competition; general economic factors, including interest rate and currency exchange rate fluctuations; the impact of pharmaceutical industry regulation and health care legislation in the United States and internationally; global trends toward health care cost containment; technological advances, new products and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approval; the Company’s ability to accurately predict future market conditions; manufacturing difficulties or delays; financial instability of international economies and sovereign risk; dependence on the effectiveness of the Company’s patents and other protections for innovative products; and the exposure to litigation, including patent litigation, and/or regulatory actions.

The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 and the Company’s other filings with the Securities and Exchange Commission (SEC) available at the SEC’s Internet site (www.sec.gov).

Appendix

Generic product names are provided below.

Pharmaceutical

BRIDION (sugammadex)

CAPVAXIVE (Pneumococcal 21-valent Conjugate Vaccine)

ENFLONSIA (clesrovimab-cfor)

GARDASIL (Human Papillomavirus Quadrivalent [Types 6, 11, 16 and 18] Vaccine, Recombinant)

GARDASIL 9 (Human Papillomavirus 9-valent Vaccine, Recombinant)

JANUMET (sitagliptin and metformin HCl)

JANUVIA (sitagliptin)

KEYTRUDA (pembrolizumab)

KEYTRUDA QLEX (pembrolizumab and berahyaluronidase alfa-pmph)

LAGEVRIO (molnupiravir)

Lenvima (lenvatinib)

Lynparza (olaparib)

M-M-R II (Measles, Mumps and Rubella Virus Vaccine Live)

OHTUVAYRE (ensifentrine)

PREVYMIS (letermovir)

PROQUAD (Measles, Mumps, Rubella and Varicella Virus Vaccine Live)

Reblozyl (luspatercept-aamt)

ROTATEQ (Rotavirus Vaccine, Live, Oral, Pentavalent)

Simponi (golimumab)

VARIVAX (Varicella Virus Vaccine Live)

VAXNEUVANCE (Pneumococcal 15-valent Conjugate Vaccine)

WELIREG (belzutifan)

WINREVAIR (sotatercept-csrk)

Animal Health

BRAVECTO (fluralaner)

____________________

¹Net income attributable to the Company.

²The Company is providing certain 2025 and 2024 non-GAAP information that excludes certain items because of the nature of these items and the impact they have on the analysis of underlying business performance and trends. Management believes that providing this information enhances investors’ understanding of the Company’s results because management uses non-GAAP results to assess performance. Management uses non-GAAP measures internally for planning and forecasting purposes and to measure the performance of the Company along with other metrics. In addition, annual employee compensation, including senior management’s compensation, is derived in part using a non-GAAP pretax income metric. This information should be considered in addition to, but not as a substitute for or superior to, information prepared in accordance with GAAP. For a description of the non-GAAP adjustments, see Table 2a attached to this release.

³ Reflects expenses related to business combinations, including the amortization of intangible assets, intangible asset impairment charges, and expense or income related to changes in the estimated fair value measurement of liabilities for contingent consideration. Also includes integration, transaction and certain other costs associated with acquisitions and divestitures, as well as amortization of intangible assets related to collaborations, licensing arrangements and asset acquisitions, and recognition of fair value step-up to inventories for asset acquisitions.

⁴ Includes the estimated tax impacts on the reconciling items based on applying the statutory rate of the originating territory of the non-GAAP adjustments for all periods presented. Amount in the full year of 2025 also includes a $60 million net benefit, which reflects a net benefit related to favorable audit reserve adjustments. Amounts in the fourth quarter and full year of 2024 also include a $260 million benefit and a $519 million benefit, respectively, due to reductions in reserves for unrecognized income tax benefits resulting from the expiration of the statute of limitations for assessments related to certain federal tax return years. The benefit recognized in the fourth quarter of 2024 relates to the 2020 federal tax return year and the benefit for the full year of 2024 relates to both the 2020 and 2019 federal tax return years.

MERCK & CO., INC., RAHWAY, N.J., USA
CONSOLIDATED STATEMENT OF INCOME – GAAP
(AMOUNTS IN MILLIONS, EXCEPT PER SHARE FIGURES)
(UNAUDITED)
Table 1

	GAAP						% Change	GAAP						% Change
	GAAP							GAAP
		4Q25			4Q24			Full Year 2025			Full Year 2024
		4Q25			4Q24			Full Year 2025			Full Year 2024

Sales	$	16,400		$	15,624		5%	$	65,011		$	64,168		1%

Costs, Expenses and Other
Cost of sales		5,551			3,828		45%		16,382			15,193		8%
Selling, general and administrative		2,898			2,864		1%		10,733			10,816		-1%
Research and development		3,886			4,585		-15%		15,789			17,938		-12%
Restructuring costs		213			51		*		889			309		*
Other (income) expense, net		432			126		*		151			(24	)	*
Income Before Taxes		3,420			4,170		-18%		21,067			19,936		6%
Income Tax Provision		458			425				2,804			2,803
Net Income		2,962			3,745		-21%		18,263			17,133		7%
Less: Net (Loss) Income Attributable to Noncontrolling Interests		(1	)		2				9			16
Net Income Attributable to Merck & Co., Inc., Rahway, N.J., USA	$	2,963		$	3,743		-21%	$	18,254		$	17,117		7%

Earnings per Common Share Assuming Dilution	$	1.19		$	1.48		-20%	$	7.28		$	6.74		8%

Average Shares Outstanding Assuming Dilution		2,488			2,537				2,507			2,541
Tax Rate		13.4	%		10.2	%			13.3	%		14.1	%


* 100% or greater

MERCK & CO., INC., RAHWAY, N.J., USA
FOURTH QUARTER AND FULL YEAR 2025 GAAP TO NON-GAAP RECONCILIATION
(AMOUNTS IN MILLIONS, EXCEPT PER SHARE FIGURES)
(UNAUDITED)
Table 2a


	GAAP			Acquisition- and Divestiture-Related Costs ⁽¹⁾			Restructuring Costs ⁽²⁾			(Income) Loss from Investments in Equity Securities			Certain Other Items			Adjustment Subtotal		Non-GAAP
	GAAP			Acquisition- and Divestiture-Related Costs ⁽¹⁾			Restructuring Costs ⁽²⁾			(Income) Loss from Investments in Equity Securities			Certain Other Items			Adjustment Subtotal		Non-GAAP
Fourth Quarter
Cost of sales	$	5,551		1,054			1,173									2,227		$	3,324
Selling, general and administrative		2,898		48			2									50			2,848
Research and development		3,886		5			(111	)								(106	)		3,992
Restructuring costs		213					213									213			–
Other (income) expense, net		432								206						206			226
Income Before Taxes		3,420		(1,107	)		(1,277	)		(206	)					(2,590	)		6,010
Income Tax Provision (Benefit)		458		(187	)	⁽³⁾	(234	)	⁽³⁾	(44	)	⁽³⁾				(465	)		923
Net Income		2,962		(920	)		(1,043	)		(162	)					(2,125	)		5,087
Net Income Attributable to Merck & Co., Inc., Rahway, N.J., USA		2,963		(920	)		(1,043	)		(162	)					(2,125	)		5,088
Earnings per Common Share Assuming Dilution	$	1.19		(0.37	)		(0.42	)		(0.06	)					(0.85	)	$	2.04

Tax Rate		13.4	%																15.4	%

Full Year
Cost of sales	$	16,382		2,871			1,484									4,355		$	12,027
Selling, general and administrative		10,733		120			3									123			10,610
Research and development		15,789		19			175									194			15,595
Restructuring costs		889					889									889			–
Other (income) expense, net		151		(3	)					(306	)					(309	)		460
Income Before Taxes		21,067		(3,007	)		(2,551	)		306						(5,252	)		26,319
Income Tax Provision (Benefit)		2,804		(525	)	⁽³⁾	(473	)	⁽³⁾	65		⁽³⁾	(60	)	⁽⁴⁾	(993	)		3,797
Net Income		18,263		(2,482	)		(2,078	)		241			60			(4,259	)		22,522
Net Income Attributable to Merck & Co., Inc., Rahway, N.J., USA		18,254		(2,482	)		(2,078	)		241			60			(4,259	)		22,513
Earnings per Common Share Assuming Dilution	$	7.28		(0.99	)		(0.83	)		0.10			0.02			(1.70	)	$	8.98

Tax Rate		13.3	%																14.4	%

Only the line items that are affected by non-GAAP adjustments are shown.

The Company is providing certain non-GAAP information that excludes certain items because of the nature of these items and the impact they have on the analysis of underlying business performance and trends. Management believes that providing non-GAAP information enhances investors’ understanding of the Company’s results because management uses non-GAAP measures to assess performance. Management uses non-GAAP measures internally for planning and forecasting purposes and to measure the performance of the Company along with other metrics. In addition, annual employee compensation, including senior management’s compensation, is derived in part using a non-GAAP pretax income metric. The non-GAAP information presented should be considered in addition to, but not as a substitute for or superior to, information prepared in accordance with GAAP.

⁽¹⁾Amounts included in cost of sales for the fourth quarter and full year reflect expenses for the amortization of intangible assets, as well as the recognition of fair value step-up of inventories related to the Verona Pharma acquisition. Cost of sales for the full year also includes intangible asset impairment charges. For the full year, cost of sales reflects a benefit from a decrease in the estimated fair value measurement of liabilities for contingent consideration. Amounts included in selling, general and administrative expenses reflect integration, transaction and certain other costs related to acquisitions and divestitures. Amounts included in research and development expenses reflect the amortization of intangible assets.

⁽²⁾Amounts primarily include employee separation costs, accelerated depreciation and asset impairment charges associated with facilities to be closed or divested, as well as contractual termination costs and related adjustments, associated with activities under the Company’s formal restructuring programs.

⁽³⁾ Represents the estimated tax impacts on the reconciling items based on applying the statutory rate of the originating territory of the non-GAAP adjustments.

⁽⁴⁾ Amount represents a net tax benefit, including a net benefit related to favorable audit reserve adjustments.

MERCK & CO., INC., RAHWAY, N.J., USA
FRANCHISE / KEY PRODUCT SALES
(AMOUNTS IN MILLIONS)
(UNAUDITED)
Table 3

	2025					2024					4Q		Full Year
	1Q	2Q	3Q	4Q	Full Year	1Q	2Q	3Q	4Q	Full Year	Nom %	Ex-Exch %	Nom %	Ex-Exch %
TOTAL SALES ⁽¹⁾	$15,529	$15,806	$17,276	$16,400	$65,011	$15,775	$16,112	$16,657	$15,624	$64,168	5	4	1	2
PHARMACEUTICAL	13,638	14,050	15,611	14,843	58,142	14,006	14,408	14,943	14,042	57,400	6	4	1	1
Oncology
Keytruda	7,205	7,956	8,142	8,337	31,641	6,947	7,270	7,429	7,836	29,482	6	5	7	7
Keytruda Qlex			5	35	40						–	–	–	–
Alliance Revenue – Lynparza⁽²⁾	312	370	379	389	1,450	292	317	337	365	1,311	7	4	11	10
Alliance Revenue – Lenvima ⁽²⁾	258	265	258	272	1,053	255	249	251	255	1,010	7	6	4	4
Welireg	137	162	196	220	716	85	126	139	160	509	37	37	41	41
Alliance Revenue – Reblozyl ⁽³⁾	119	107	136	164	525	71	90	100	110	371	48	48	41	41
Vaccines ⁽⁴⁾
Gardasil/Gardasil 9	1,327	1,126	1,749	1,031	5,233	2,249	2,478	2,306	1,550	8,583	-34	-35	-39	-39
ProQuad/M-M-R II/Varivax	539	609	684	619	2,451	570	617	703	594	2,485	4	3	-1	-2
Vaxneuvance	230	229	226	140	825	219	189	239	161	808	-13	-16	2	1
Capvaxive	107	129	244	279	759			47	50	97	*	*	*	*
RotaTeq	228	121	204	119	673	216	163	193	139	711	-14	-15	-5	-5
Pneumovax 23	41	38	45	42	166	61	59	68	74	263	-43	-44	-37	-37
Hospital Acute Care
Bridion	441	461	439	499	1,841	440	455	420	449	1,764	11	11	4	4
Prevymis	208	228	266	275	978	174	188	208	215	785	28	26	25	23
Zerbaxa	70	74	81	87	312	56	62	64	70	252	24	23	24	24
Dificid	83	96	43	25	247	73	92	96	79	340	-68	-68	-27	-27
Cardiometabolic & Respiratory
Winrevair	280	336	360	467	1,443		70	149	200	419	133	133	*	*
Alliance Revenue – Adempas/Verquvo ⁽⁵⁾	106	123	112	129	470	98	106	102	109	415	18	18	13	13
Adempas ⁽⁶⁾	68	80	82	83	312	70	72	72	73	287	14	9	9	6
Ohtuvayre				178	178						–	–	–	–
Virology
Lagevrio	102	83	138	57	380	350	110	383	121	964	-53	-53	-61	-61
Isentress/Isentress HD	90	86	82	67	325	111	89	102	92	394	-27	-28	-18	-18
Delstrigo	67	83	77	79	306	56	60	65	69	249	15	9	23	20
Pifeltro	45	41	43	42	171	42	39	42	40	163	6	4	5	4
Neuroscience
Belsomra	50	40	47	49	186	46	53	78	45	222	8	9	-16	-16
Immunology
Simponi						184	172	189		543			-100	-100
Remicade						39	35	41		114			-100	-100
Diabetes⁽⁷⁾
Januvia	549	372	382	302	1,604	419	405	278	232	1,334	30	30	20	21
Janumet	247	251	243	199	940	251	224	204	255	935	-22	-22	1	2
Other Pharmaceutical ⁽⁸⁾	729	584	948	658	2,917	632	618	638	699	2,590	-6	-5	13	13
ANIMAL HEALTH	1,588	1,646	1,615	1,505	6,354	1,511	1,482	1,487	1,397	5,877	8	6	8	9
Livestock	924	961	1,023	987	3,896	850	837	886	889	3,462	11	9	13	14
Companion Animal	664	685	592	518	2,458	661	645	601	508	2,415	2	0	2	2
Other Revenues ⁽⁹⁾	303	110	50	52	515	258	222	227	185	891	-71	-15	-42	-6

*200% or greater
Sum of quarterly amounts may not equal year-to-date amounts due to rounding.
⁽¹⁾ Only select products are shown.
⁽²⁾ Alliance Revenue represents the Company’s share of profits, which are product sales net of cost of sales and commercialization costs.
⁽³⁾ Alliance Revenue represents royalties.
⁽⁴⁾ Total Vaccines sales were $2,607 million, $2,370 million, $3,370 million and $2,364 million in the first, second, third and fourth quarter of 2025, respectively, and $3,424 million, $3,656 million, $3,675 million and $2,693 million in the first, second, third and fourth quarter of 2024, respectively.
⁽⁵⁾ Alliance Revenue represents the Company’s share of profits from sales in Bayer’s marketing territories, which are product sales net of cost of sales and commercialization costs.
⁽⁶⁾ Net product sales in the Company’s marketing territories.
⁽⁷⁾ Total Diabetes sales were $876 million, $704 million, $703 million and $579 million in the first, second, third and fourth quarter of 2025, respectively, and $745 million, $715 million, $592 million and $546 million in the first, second, third and fourth quarter of 2024, respectively.
⁽⁸⁾ Includes Pharmaceutical products not individually shown above. Also reflects total alliance revenue for Koselugo of $44 million, $43 million, $214 million and $135 million in the first, second, third and fourth quarter of 2025, respectively, and $38 million, $37 million, $39 million and $56 million in the first, second, third and fourth quarter of 2024, respectively.
⁽⁹⁾ Other Revenues are comprised primarily of revenues from third-party manufacturing arrangements and miscellaneous corporate revenues, including revenue-hedging activities. Other Revenues related to the receipt of upfront and milestone payments for out-licensed products were $95 million, $5 million, $11 million and $27 million in the first, second, third and fourth quarter of 2025, respectively, and $61 million, $15 million, $15 million and $15 million in the first, second, third and fourth quarter of 2024, respectively.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260203933145/en/

Memory Chip Market is expected to reach US$ 455.9 billion by 2030 | DataM Intelligence

EIN Newswire on February 11, 2026

The Global Memory Chip Market is expected to reach at a CAGR of 12.5% during the forecast period 2024-2031.

The Global Memory Chip Market is booming, driven by rising demand for smartphones, AI, and data centers, with innovations in DRAM, NAND, and high-speed storage.”

— DataM Intelligence

AUSTIN, TX, UNITED STATES, February 3, 2026 /EINPresswire.com/ — Market Overview:

The Memory Chip Market forms the backbone of today’s digital economy, enabling data storage, processing, and real-time computing across consumer electronics, enterprise systems, and emerging technologies. Memory chips are essential semiconductor components used to store instructions and data temporarily or permanently in electronic devices. With the rapid expansion of data-intensive applications such as artificial intelligence (AI), cloud computing, 5G networks, autonomous vehicles, and Internet of Things (IoT) devices, the demand for high-performance and energy-efficient memory solutions continues to accelerate. Innovations in chip architecture, miniaturization, and advanced fabrication processes are reshaping the competitive landscape, making memory technology a strategic priority for both manufacturers and end users.

To Download Sample Report Here: https://www.datamintelligence.com/download-sample/memory-chip-market

According to DataM Intelligence, The Global Memory Chip Market was valued at approximately USD 178.5 billion in 2022 and is projected to reach nearly USD 455.9 billion by 2030, growing at a compound annual growth rate (CAGR) of around 12.5% during the forecast period. Key growth drivers include the exponential rise in data generation, increasing smartphone and consumer electronics penetration, and strong investments in data centers and high-performance computing infrastructure. Dynamic Random-Access Memory (DRAM) currently represents the leading segment due to its widespread use in servers, PCs, and mobile devices, while Asia-Pacific dominates the global market, supported by robust semiconductor manufacturing ecosystems in countries such as China, South Korea, Taiwan, and Japan.

Key Highlights from the Report:

The Global Memory Chip Market is witnessing steady growth driven by AI, cloud computing, and big data applications.
DRAM remains the dominant product segment due to its high-speed performance in computing and server applications.
Flash memory demand is rising sharply, supported by solid-state drives (SSDs) and mobile storage needs.
Asia-Pacific leads the market owing to large-scale semiconductor fabrication and strong consumer electronics production.
Data center expansion worldwide is significantly boosting high-capacity and low-latency memory adoption.
Continuous R&D in next-generation memory technologies is reshaping long-term competitive dynamics.

Market Segmentation Analysis:

The Memory Chip Market is broadly segmented based on product type, end-user industry, and application, each playing a crucial role in defining demand patterns. By product type, the market is categorized into DRAM, NAND flash, NOR flash, and emerging memory technologies. DRAM holds a substantial share due to its essential role in computing devices where fast data access is critical. NAND flash memory, on the other hand, is gaining traction owing to its non-volatile nature and extensive use in smartphones, USB drives, and solid-state drives.

From an end-user perspective, the market spans consumer electronics, IT and telecommunications, automotive, industrial automation, and healthcare sectors. Consumer electronics continue to account for a significant portion of overall demand, driven by the constant upgrade cycle of smartphones, laptops, tablets, and gaming consoles. Meanwhile, the automotive segment is emerging as a high-growth area as modern vehicles increasingly rely on advanced driver-assistance systems (ADAS), infotainment platforms, and electric vehicle battery management systems that require reliable memory storage.

Application-based segmentation highlights computing systems, networking equipment, data centers, and embedded systems as key demand centers. Data centers represent a particularly fast-growing application area, as hyperscale operators invest heavily in memory-intensive workloads to support AI training, real-time analytics, and cloud-based services.

Speak to Our Analyst and Get Customization in the report as per your requirements: https://www.datamintelligence.com/customize/memory-chip-market

Regional Insights:

Regionally, Asia-Pacific dominates the global memory chip market, accounting for the largest revenue share. The region benefits from the presence of leading semiconductor manufacturers, well-established supply chains, and supportive government policies aimed at strengthening domestic chip production. Countries such as South Korea and Taiwan are global leaders in memory fabrication, while China continues to invest aggressively in semiconductor self-sufficiency to reduce import dependency.

North America represents a significant market driven by strong demand from data centers, cloud service providers, and technology innovators. The region’s leadership in AI development, software-driven solutions, and advanced computing infrastructure fuels consistent demand for high-performance memory chips. Additionally, increased investments in domestic semiconductor manufacturing are reshaping the regional supply landscape.

Europe shows steady growth supported by automotive electronics, industrial automation, and smart manufacturing initiatives. The region’s focus on electric vehicles and Industry 4.0 technologies is expanding the need for reliable and durable memory solutions. Meanwhile, Latin America and the Middle East & Africa remain emerging markets, with gradual adoption of digital infrastructure and consumer electronics creating new growth opportunities over the forecast period.

Market Dynamics:

Market Drivers
One of the primary drivers of the memory chip market is the rapid proliferation of data-driven technologies. The widespread adoption of AI, machine learning, and cloud computing has significantly increased the need for high-speed, high-capacity memory solutions. Growing smartphone usage, the expansion of 5G networks, and the rise of smart devices further amplify demand. Additionally, continuous advancements in semiconductor manufacturing processes are enabling higher memory density and improved performance, making memory chips more efficient and cost-effective.

Market Restraints
Despite strong growth prospects, the market faces several restraints. High capital investment requirements for semiconductor fabrication plants pose a significant barrier to entry. Market volatility due to cyclical demand-supply imbalances can lead to price fluctuations, impacting profitability. Furthermore, geopolitical tensions, trade restrictions, and supply chain disruptions create uncertainties that may hinder consistent market expansion.

Market Opportunities
The development of next-generation memory technologies such as 3D NAND, High Bandwidth Memory (HBM), and emerging non-volatile memory solutions presents lucrative opportunities. Increasing adoption of electric vehicles, smart factories, and edge computing devices opens new application areas for memory chips. Strategic partnerships, technological innovation, and government-backed semiconductor initiatives are expected to further unlock growth potential in the coming years.

Looking For Full Report? Get it Here: https://www.datamintelligence.com/buy-now-page?report=memory-chip-market

Frequently Asked Questions (FAQs):

How big is the Global Memory Chip Market in 2025?
Who are the key players in the Global Memory Chip Market?
What is the projected growth rate of the memory chip market during the forecast period?
What is the market forecast for the memory chip market by 2032?
Which region is estimated to dominate the memory chip industry through the forecast period?

Company Insights and Competitive Landscape:

Samsung Electronics
SK hynix
Micron Technology
Kioxia
Western Digital
HP Inc.
Qualcomm
Broadcom
Texas Instruments
Renesas Electronics

Recent Developments:

United States:
January 2026: Micron reported Q1 FY26 revenue of $13.6 billion, up 57% year-over-year, driven by DRAM sales at 79% of total amid ongoing AI memory shortages.

December 2025: Memory prices began rising sharply due to AI server demand, with analysts forecasting 50% increases into 2026, benefiting key U.S. players like Micron.

November 2025: Micron Technology announced a major $9.6 billion investment in advanced memory production, focusing on AI-driven chips amid surging demand. This move highlights U.S. efforts to bolster domestic capacity in response to global shortages.

Japan:
January 2026: SEAJ forecasted 30% rise in Japan memory investments to 1.59 trillion yen for FY2025, fueled by AI recovery and foundry expansions.

December 2025: Global memory market forecasts projected strong 2025 growth to $204 billion by 2032, with Japan emphasizing NAND and DRAM for AI and 5G.

November 2025: Micron committed 1.5 trillion yen ($9.6 billion) to build a next-gen AI memory plant in western Japan, partnering with local efforts to revive semiconductor leadership.

Unlock 360° Market Intelligence with DataM Subscription Services: https://www.datamintelligence.com/reports-subscription

Conclusion:

The Memory Chip Market is poised for sustained growth as digital transformation continues to redefine global industries. Rising data consumption, expanding AI applications, and increasing reliance on cloud and edge computing are driving long-term demand for advanced memory solutions. While challenges such as market cyclicality and supply chain risks persist, ongoing innovation and strategic investments are expected to strengthen market resilience. With Asia-Pacific maintaining its leadership and emerging technologies opening new frontiers, the global memory chip market remains a critical pillar of the modern semiconductor ecosystem.

Related Reports:

AC/DC Chip Market

Memory Integrated Circuits Market

Sai Kiran
DataM Intelligence 4Market Research
+1 877-441-4866
Sai.k@datamintelligence.com
Visit us on social media:
LinkedIn
X

Legal Disclaimer:

EIN Presswire provides this news content “as is” without warranty of any kind. We do not accept any responsibility or liability
for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this
article. If you have any complaints or copyright issues related to this article, kindly contact the author above.

Battery Market Size : Emerging Demands, Share, Trends, Futuristic Opportunity, Share and Forecast To 2033 | CATL, Tesla

EIN Newswire on February 11, 2026

“Battery Market is estimated to be valued at USD 151.54 Bn in 2025 and is expected to reach USD 480.15 Bn by 2032, growing at a CAGR of 17.9% from 2025 to 2032

BURLINGAME, CA, UNITED STATES, February 4, 2026 /EINPresswire.com/ — Overview

The “Battery Market 2026 Forecast to 2033” report delivers precise global, regional, and country-level insights backed by reliable economic analysis. It presents a clear view of the competitive environment and includes a detailed supply chain study to help businesses anticipate shifts in industry practices. The study also assesses the present scenario of the Battery industry and outlines future growth prospects, technological developments, investment opportunities, and financial outlook. With a well-structured SWOT evaluation, the report highlights key drivers, restraints, trends, and financial structures shaping the industry landscape.

This publication provides a well-rounded and data-driven analysis of the Global Battery Market. Both quantitative and qualitative evaluations are included, segmented by company, region & country, type, and application. Ass continue to evolve, the report explores competitive strategies, demand-supply shifts, and critical forces that influence business growth across various industries.

👉 Request a Sample of the Battery Analysis Report here: https://www.coherentmarketinsights.com/insight/request-sample/5170

🎯 Scope of Battery Market Report:

The Battery Market Research Report offers deep insights into drivers, emerging challenges, and evolving opportunities. It features detailed segmentation by product type, application, and region, along with strategic profiles of major players. Consumer preferences, adoption patterns, and emerging technologies are assessed to understand future demand.

In addition, the report examines regulatory frameworks and technological innovations that are reshaping the sector, making it a vital guide for executives, investors, and decision-makers.

Key Players Highlighted in This Report

• CATL (Contemporary Amperex Technology Co Ltd)
• BYD Company Limited
• Panasonic Corporation
• LG Chem
• Samsung SDI
• SK Innovation
• EVE Energy Co, Ltd
• Tesla
• AESC (Automotive Energy Supply Corporation)
• GS Yuasa Corporation
• Coslight
• Hitachi Ltd
• Johnson Controls International plc
• Honeywell International Inc
• Bosch Group
• Varta AG
• Pinnacle Electronics Inc
• Microvast Holdings Inc
• Liontown Resources Limited
• Freudenberg Group

Comprehensive Segmentation of the Report

• By Type:Primary Battery and Secondary Battery
• By Technology:Lead-acid Battery, Lithium-ion Battery , Nickel-metal Hydride (NiMH) Battery , Nickel-cadmium (NiCD) Battery , Nickelâ€“zinc (NiZn) Battery , Flow Battery , Sodiumâ€“sulfur (NAS) Battery , Zinc-manganese Dioxide Battery , Small Sealed Lead-acid Battery , Other Technologies
• By Application:Automotive Batteries , Industrial Batteries , Portable Batteries , Power Tools Batteries , SLI Batteries , Other Applications

👉 Request a Sample Copy here: https://www.coherentmarketinsights.com/insight/request-sample/5170

Research Methodology

This report is grounded in a robust research methodology designed by experienced analysts. Data was collected through extensive primary research—including interviews with top industry stakeholders—and secondary sources such as annual reports, white papers, and government publications.

The methodology blends both qualitative and quantitative techniques to ensure accuracy. Primary insights validate emerging trends and dynamics, while secondary research provides context for supply-demand relationships. Together, these approaches guarantee reliable forecasts and actionable business intelligence.

Regional Outlook

The Battery analysis also provides detailed forecasts across major regions, including growth drivers and influencing trends. The study covers:

⦿ North America (U.S. and Canada)
⦿ Latin America (Mexico, Brazil, Peru, Chile, and others)
⦿ Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, Luxembourg)
⦿ Eastern Europe (Poland and Russia)
⦿ Asia Pacific (China, India, Japan, ASEAN, Australia, New Zealand)
⦿ Middle East & Africa (GCC, Southern Africa, North Africa)

Major Points Covered in the Table of Contents

📌 Overview – A concise introduction to the report and scope.
📌 Market Analysis – Accurate projections for share across key segments.
📌 Strategies of Leading Players – Insights into competitive moves to maintain an edge.
📌 Regional Growth Analysis – Regional comparisons and opportunities in emergings.
📌 Market Forecasts – Reliable predictions on consumption, production, and revenue growth.

Benefits of This Report

➺ Reduce uncertainty about the future – Identify revenue pockets and growth opportunities.
➺ Understand sentiment – Access in-depth insights into consumer and industry trends.
➺ Pinpoint investment hubs – Evaluate future demand and ROI for key sectors.
➺ Assess potential partners – Identify compatible collaborators and business allies.

Reasons to Buy

1️⃣ Gain competitive insights for effective R&D strategies.
2️⃣ Spot emerging players with strong pipelines and portfolios.
3️⃣ Identify potential clients or partners in key demographics.
4️⃣ Build tactical initiatives based on top companies’ focus areas.
5️⃣ Plan M&A activities with clear intelligence on leading manufacturers.
6️⃣ Strengthen licensing strategies by identifying promising projects.
7️⃣ Enhance presentations with reliable, high-quality data.

👉 Click Below to Access Your Discounted Report. https://www.coherentmarketinsights.com/offernew/buy-now/5170

FAQ’s

1. Who are the key players dominating the?
2. What business strategies are adopted by leaders to stay competitive?
3. What factors are driving the rapid growth of this industry?
4. Which regions are witnessing the fastest expansion in the Battery sector?
5. What CAGR is expected for the Global Battery Market during 2026–2033?

Author of thising PR:

Alice Mutum is a highly experienced Senior Content Editor at Coherent Insights with seven years in content strategy and development. She expertly applies SEO best practices and modern digitaling tactics to craft compelling, high-ranking content. As an editor, Alice ensures every report is grammatically flawless, data-accurate, and precisely tailored to reader needs—earning her reputation for excellence in intelligence.

About CMI

Coherent Insights leads into data and analytics, audience measurement, consumer behaviors, and trend analysis. From shorter dispatch to in-depth insights, CMI has exceled in offering research, analytics, and consumer-focused shifts for nearly a decade. With cutting-edge syndicated tools and custom-made research services, we empower businesses to move in the direction of growth. We are multifunctional in our work scope and have 450+ seasoned consultants, analysts, and researchers across 26+ industries spread out in 32+ countries.

Raj Shah
Coherent Market Insights Pvt. Ltd.
+1 252-477-1362
email us here
Visit us on social media:
LinkedIn
Instagram
Facebook
X

Legal Disclaimer:

Safety Instrumented System Market : Emerging Demands, Share, Trends, Futuristic Opportunity, Share and Forecast By 2033

EIN Newswire on February 11, 2026

Safety Instrumented System Market is estimated to valued USD 5.09 Bn in 2025 and expected to reach USD 8.34 Bn by 2032, growing at CAGR of 7.3% from 2025-2032

BURLINGAME, CA, UNITED STATES, February 4, 2026 /EINPresswire.com/ — Overview

The “Safety Instrumented System Market 2026 Forecast to 2033” report delivers precise global, regional, and country-level insights backed by reliable economic analysis. It presents a clear view of the competitive environment and includes a detailed supply chain study to help businesses anticipate shifts in industry practices. The study also assesses the present scenario of the Safety Instrumented System industry and outlines future growth prospects, technological developments, investment opportunities, and financial outlook. With a well-structured SWOT evaluation, the report highlights key drivers, restraints, trends, and financial structures shaping the industry landscape.

This publication provides a well-rounded and data-driven analysis of the Global Safety Instrumented System Market. Both quantitative and qualitative evaluations are included, segmented by company, region & country, type, and application. Ass continue to evolve, the report explores competitive strategies, demand-supply shifts, and critical forces that influence business growth across various industries.

👉 Request a Sample of the Safety Instrumented System Analysis Report here: https://www.coherentmarketinsights.com/insight/request-sample/5780

🎯 Scope of Safety Instrumented System Market Report:

The Safety Instrumented System Market Research Report offers deep insights into drivers, emerging challenges, and evolving opportunities. It features detailed segmentation by product type, application, and region, along with strategic profiles of major players. Consumer preferences, adoption patterns, and emerging technologies are assessed to understand future demand.

In addition, the report examines regulatory frameworks and technological innovations that are reshaping the sector, making it a vital guide for executives, investors, and decision-makers.

Key Players Highlighted in This Report

• Schlumberger Limited
• Rockwell Automation Inc.
• SIS-TECH Solutions LP
• Emerson Electric Company
• HIMA Paul Hildebrandt GmbH
• Honeywell International Inc.
• Siemens AG
• Yokogawa Electric Corporation
• Schneider Electric SE
• ABB Ltd.

Comprehensive Segmentation of the Report

• By Application: Emergency Shutdown Systems (ESS) Fire and Gas Monitoring and Control (F&GC), High Integrity Pressure Protection Systems (HIPPS), Burner Management Systems (BMS), and Turbo Machinery Control Other Applications
• By End User: Chemicals and Petrochemicals, Power Generation, Pharmaceutical, Food and Beverage, Oil and Gas, and Other End Users

👉 Request a Sample Copy here: https://www.coherentmarketinsights.com/insight/request-sample/5780

Research Methodology

Regional Outlook

The Safety Instrumented System analysis also provides detailed forecasts across major regions, including growth drivers and influencing trends. The study covers:

Major Points Covered in the Table of Contents

Benefits of This Report

Reasons to Buy

👉 Click Below to Access Your Discounted Report. https://www.coherentmarketinsights.com/offernew/buy-now/5780

FAQ’s

1. Who are the key players dominating the?
2. What business strategies are adopted by leaders to stay competitive?
3. What factors are driving the rapid growth of this industry?
4. Which regions are witnessing the fastest expansion in the Safety Instrumented System sector?
5. What CAGR is expected for the Global Safety Instrumented System Market during 2026–2033?

Author of thising PR:

About CMI

Raj Shah
Coherent Market Insights Pvt. Ltd.
+1 252-477-1362
email us here
Visit us on social media:
LinkedIn
Instagram
Facebook
X

Legal Disclaimer:

Local Entrepreneur Brings AtWork to Conroe Area, Connecting Talent with Opportunity

AtWork on February 11, 2026

CONROE, Texas, Feb. 04, 2026 (GLOBE NEWSWIRE) — AtWork®, the nation’s leading staffing franchise for empowering job seekers and facilitating company growth, has opened its newest location in Conroe at 717 West Davis St. of the Conroe Center Shopping Mall.

AtWork Conroe is locally owned and operated by Roberto Santos. Originally from Ecuador, Santos immigrated to the United States, where he acquired a manufacturing company in Ohio. Shortly after, he and his brother launched their own venture, giving Santos the opportunity to work directly alongside his employees. Throughout Santos’ career, the common thread has been his commitment to people, whether by supporting employees in his own businesses or, most recently, by helping job seekers and companies connect through AtWork Conroe. Supporting that mission is branch manager Angela Mitchell, who brings many years of staffing experience to the location.

“Most of my career has been about working with people, understanding their needs, what they want and making sure we are aligned to deliver results,” Santos said. “Every business I have built has been people-centered. The job market is challenging right now, so being able to connect talent with opportunity is not only good for the community but also a natural progression in my career.”

For more than three decades, AtWork’s mission has been to connect people with jobs and jobs with people. With more than 100 locations nationwide, AtWork puts nearly 40,000 individuals to work each year in manufacturing, administrative, light-industrial, accounting and finance, hospitality, IT and management-level positions at some of the nation’s largest and most recognizable companies.

“We’re excited to open our doors in Conroe and create a trusted resource where job seekers and growing businesses can find the staffing solutions they need,” said Jason Leverant, President and COO of AtWork. “AtWork Conroe will play an important role in helping employees succeed, businesses prosper, and the community thrive. We’re confident Roberto is the ideal partner to carry out this mission and lead with service in his community.”

AtWork Conroe is located at:
717 West Davis St., Suite A
Conroe, Texas 77301
936) 304-7814

For more information, email conroetx@atwork.com or visit AtWork.com/conroe.

###

ABOUT ATWORK:
Headquartered in Knoxville, Tennessee, AtWork is an award-winning staffing franchise with more than over 100 locations nationwide and 30 years of experience helping businesses find dependable talent and helping people find meaningful work. AtWork provides comprehensive workforce solutions, including temporary staffing, temp-to-hire, and direct hire services, supporting companies across a wide range of industries nationwide. AtWork is recognized by Staffing Industry Analysts as one of the Largest and Best Staffing Firms to Work for in the U.S. and as an Entrepreneur Verified Franchise. The brand’s commitment to service excellence has earned ClearlyRated’s Best of Staffing® Award for both client and talent satisfaction. AtWork’s strong growth and franchisee support have secured its place on Franchise Business Review’s Top 200 Franchises for eight consecutive years, along with induction into the FBR Hall of Fame for more than 10 years of outstanding performance. Additional recognition includes rankings in Franchise Times Top 400, and Entrepreneur’s Top Franchises for Diversity, Equity, and Inclusion. To learn more about our services, visit AtWork.com.

Contact Info

Halleigh Woods
halleigh@seesparkgo.com
+1 706-616-3073

Zillow’s January Market Report shows improving affordability for home buyers

Zillow, Inc. on February 11, 2026

Zillow’s January Market Report shows improving affordability for home buyers

PR Newswire

SEATTLE, Feb. 4, 2026

U.S. home values have fallen for six consecutive months, according to the Zillow Home Value Index

SEATTLE, Feb. 4, 2026 /PRNewswire/ — U.S. home values fell on a monthly basis for the sixth consecutive month in January, according to the Zillow® Home Value Index. This trend mirrors last year, when home values fell each month from August 2024 to February 2025. The monthly mortgage payment on a typical U.S. home is now 8.4% less expensive than a year ago, driven down primarily by lower mortgage rates.

New listings and the early read on sales both fell in January compared to last year, likely influenced by poor weather in much of the country. Buyers are having an easier time than last year, with homes on the market longer and fewer homes selling above list price.

“We’re starting 2026 following three years that saw transactions bouncing along the bottom and affordability as a chronic struggle,” said Mischa Fisher, chief economist at Zillow. “Our forecast for both sales and affordability this year is one of gradual improvement. January was a cautious first step along that path, as potential buyers and sellers dealt with severe winter weather in many major markets. We expect sales to pick up as spring approaches. Housing affordability continues to improve for prospective homebuyers, while modest growth in the Zillow Observed Rent Index points to continued cooling in shelter inflation.”

Home Values & Mortgage Payments

The typical U.S. home value is $358,968.
The Zillow Home Value Index (ZHVI) fell 0.4% month over month in January. Home values are 0.2% higher than a year earlier.
The monthly mortgage payment on a typical U.S. home is $1,733, assuming a 20% down payment and excluding taxes and insurance. That is 8.4% lower than last year.

Inventory

There were 1.11 million homes for sale nationwide in January.
Active inventory was 6% higher than a year earlier. Inventory fell 0.1% from December.
New for-sale listings totaled 269,922 in January, down 5.5% from a year earlier, and up 54.8% from December.

Sales

219,644 homes were sold in January, according to the preliminary Zillow sales count nowcast. That is 4% lower than a year earlier, and down 26.4% from December. These figures will be revised mid month.
Newly pending listings, which measures listings that changed from for-sale to pending status rather than closed sales, show 1.8% year-over-year growth and a 20.8% increase over December.

Competition

Homes took a median of 47 days to go pending in January. That was eight days longer than a year earlier and four days longer than December.
The share of listings with a price cut in January was 22%. That was down 0.7 percentage points from a year earlier, and up 5.2 percentage points from December.
22.4% of homes sold above list price in December, the most recent data available. That was 2.3 percentage points lower than a year earlier, and 1.6 percentage points lower than November.

Rents

The typical rent nationwide is $1,895, according to the Zillow Observed Rent Index. That’s 2% higher than a year earlier, and up 0.1% from December.
38.8% of rental listings on Zillow offered a concession in January. That’s 2.3 percentage points lower than a year earlier, and down 0.6 percentage points from December.

Local data can be found on Zillow’s market explorer. The Zillow February Market Report is expected to be released March 4.

Metro Area*	Typical Home Value (ZHVI)	Home Value Change: MoM	Home Value Change: YoY	Inventory Change: YoY	Sales Count Nowcast Change: YoY	Typical Rent (ZORI)	Rent Change: MoM	Rent Change: YoY
United States	$358,968	-0.4 %	0.2 %	6.0 %	-4.0 %	$1,895	0.1 %	2.0 %
New York, NY	$707,558	0.2 %	3.9 %	1.5 %	-12.4 %	$3,232	-0.1 %	4.3 %
Los Angeles, CA	$946,065	0.1 %	-0.5 %	6.5 %	0.2 %	$2,885	0.1 %	1.6 %
Chicago, IL	$336,389	-0.2 %	4.0 %	-5.0 %	-14.0 %	$2,091	0.5 %	5.4 %
Dallas, TX	$357,536	-0.6 %	-3.9 %	6.1 %	1.3 %	$1,633	-0.1 %	0.3 %
Houston, TX	$302,356	-0.5 %	-2.2 %	16.4 %	-6.8 %	$1,612	-0.1 %	0.0 %
Washington, DC	$568,102	-0.2 %	-0.4 %	21.8 %	-8.0 %	$2,333	0.1 %	0.4 %
Philadelphia, PA	$375,978	-0.2 %	2.6 %	2.4 %	-13.7 %	$1,849	0.1 %	2.9 %
Miami, FL	$467,850	-0.2 %	-4.3 %	-2.3 %	-5.3 %	$2,645	0.0 %	0.5 %
Atlanta, GA	$373,781	-0.5 %	-2.7 %	6.4 %	-18.3 %	$1,812	0.1 %	2.1 %
Boston, MA	$712,622	-0.4 %	1.7 %	8.0 %	-1.4 %	$3,049	0.5 %	1.8 %
Phoenix, AZ	$443,565	-0.2 %	-2.3 %	6.4 %	0.6 %	$1,718	0.1 %	-0.6 %
San Francisco, CA	$1,092,908	-0.2 %	-2.1 %	-6.3 %	0.0 %	$3,064	0.4 %	5.8 %
Riverside, CA	$577,131	-0.1 %	-1.7 %	1.7 %	-3.4 %	$2,464	0.2 %	1.8 %
Detroit, MI	$255,825	-0.6 %	2.8 %	10.4 %	-17.0 %	$1,455	0.2 %	2.8 %
Seattle, WA	$732,016	-0.2 %	-1.5 %	19.9 %	-1.3 %	$2,183	-0.1 %	2.2 %
Minneapolis, MN	$376,354	-0.4 %	1.6 %	5.1 %	-12.3 %	$1,665	0.1 %	4.2 %
San Diego, CA	$905,983	-0.2 %	-2.0 %	5.7 %	-9.2 %	$2,871	0.1 %	1.3 %
Tampa, FL	$352,904	-0.4 %	-4.8 %	5.2 %	-6.1 %	$1,986	-0.1 %	-1.2 %
Denver, CO	$558,305	-0.4 %	-3.2 %	7.0 %	-8.2 %	$1,838	-0.1 %	-1.1 %
Baltimore, MD	$391,799	-0.4 %	0.6 %	19.0 %	-8.4 %	$1,855	0.4 %	2.6 %
St. Louis, MO	$263,241	-0.3 %	2.5 %	7.9 %	-0.1 %	$1,409	0.3 %	3.6 %
Orlando, FL	$381,041	-0.4 %	-4.0 %	3.0 %	1.6 %	$1,917	0.2 %	0.5 %
Charlotte, NC	$381,064	-0.4 %	-0.8 %	12.1 %	-12.6 %	$1,704	0.0 %	0.7 %
San Antonio, TX	$274,114	-0.5 %	-2.6 %	10.9 %	-4.8 %	$1,380	0.0 %	-1.2 %
Portland, OR	$537,199	-0.3 %	-1.1 %	10.2 %	-7.5 %	$1,778	-0.2 %	0.9 %
Sacramento, CA	$566,491	-0.4 %	-2.1 %	0.2 %	-6.4 %	$2,197	-0.2 %	1.9 %
Pittsburgh, PA	$218,792	-0.7 %	1.2 %	3.7 %	-8.2 %	$1,449	0.4 %	4.1 %
Cincinnati, OH	$297,473	-0.4 %	2.4 %	11.9 %	-5.9 %	$1,522	0.4 %	2.7 %
Austin, TX	$418,101	-0.7 %	-5.9 %	3.7 %	-8.5 %	$1,561	0.0 %	-2.6 %
Las Vegas, NV	$425,751	-0.4 %	-2.7 %	13.2 %	-8.2 %	$1,716	0.0 %	0.1 %
Kansas City, MO	$313,709	-0.2 %	2.8 %	10.9 %	10.8 %	$1,455	0.2 %	3.8 %
Columbus, OH	$318,819	-0.4 %	0.9 %	9.5 %	-5.7 %	$1,454	-0.3 %	1.6 %
Indianapolis, IN	$284,954	-0.4 %	1.1 %	15.3 %	-10.1 %	$1,508	0.2 %	3.2 %
Cleveland, OH	$237,811	-0.6 %	4.2 %	3.9 %	-13.6 %	$1,390	0.6 %	4.2 %
San Jose, CA	$1,563,569	0.0 %	-1.4 %	12.7 %	-9.7 %	$3,406	0.3 %	5.1 %
Nashville, TN	$445,010	-0.4 %	-0.8 %	11.4 %	-7.3 %	$1,770	-0.1 %	0.4 %
Virginia Beach, VA	$361,608	-0.1 %	1.7 %	5.2 %	10.6 %	$1,795	0.4 %	5.4 %
Providence, RI	$504,547	-0.2 %	2.7 %	4.4 %	-5.5 %	$2,078	0.1 %	4.5 %
Jacksonville, FL	$345,165	-0.3 %	-2.7 %	-5.7 %	-6.1 %	$1,659	-0.1 %	0.2 %
Milwaukee, WI	$365,994	-0.3 %	4.8 %	1.8 %	-3.5 %	$1,458	0.2 %	3.9 %
Oklahoma City, OK	$240,354	-0.2 %	1.0 %	9.1 %	-9.6 %	$1,347	0.1 %	2.7 %
Raleigh, NC	$428,618	-0.5 %	-2.6 %	29.5 %	-11.4 %	$1,655	0.1 %	0.2 %
Memphis, TN	$238,977	-0.5 %	-0.6 %	6.6 %	-11.7 %	$1,415	-0.1 %	1.7 %
Richmond, VA	$382,479	-0.2 %	1.7 %	6.1 %	-1.6 %	$1,639	0.5 %	3.5 %
Louisville, KY	$271,069	-0.1 %	2.1 %	20.1 %	4.9 %	$1,352	0.2 %	2.2 %
New Orleans, LA	$253,919	0.0 %	1.4 %	2.2 %	17.4 %	$1,568	0.3 %	0.4 %
Salt Lake City, UT	$557,054	-0.1 %	1.9 %	12.4 %	6.7 %	$1,581	-1.1 %	-0.3 %
Hartford, CT	$379,314	-0.3 %	4.9 %	-0.2 %	-6.4 %	$1,864	0.0 %	3.1 %
Buffalo, NY	$270,506	-0.9 %	3.9 %	3.7 %	-5.9 %	$1,365	0.6 %	3.4 %
Birmingham, AL	$252,754	-0.4 %	0.6 %	11.8 %	-27.2 %	$1,385	-0.1 %	1.9 %

*Table ordered by market size

About Zillow Group
Zillow Group, Inc. (Nasdaq: Z and ZG) is reimagining real estate to make home a reality for more and more people.

As the most visited real estate app and website in the United States, Zillow connects hundreds of millions of consumers with innovative technology, trusted agents and loan officers, and seamless digital solutions. With industry-leading tools and resources, Zillow supercharges real estate professionals so they can grow their businesses and deliver exceptional client experiences. For renters and housing providers, Zillow offers not only a robust marketplace but a set of end-to-end products and services to streamline applications, leases, payments and more.

Zillow’s ecosystem spans the entire home journey — from dreaming and shopping to renting, buying, selling and financing.

Zillow Group’s affiliates, subsidiaries and brands include Zillow^®, Zillow Premier Agent^®, Zillow Home Loans^®, Zillow Rentals^®, Zillow^® New Construction, Trulia^®, StreetEasy^®, Out East^®, HotPads^®, Follow Up Boss^®, ShowingTime^®, dotloop^® and Zillow^® Closing.

All marks herein are owned by MFTB Holdco, Inc., a Zillow affiliate. Zillow Home Loans, LLC is an Equal Housing Lender, NMLS #10287 (www.nmlsconsumeraccess.org). © 2026 MFTB Holdco, Inc., a Zillow affiliate.

(ZFIN)

View original content to download multimedia:https://www.prnewswire.com/news-releases/zillows-january-market-report-shows-improving-affordability-for-home-buyers-302678494.html

SOURCE Zillow

FOX REPORTS SECOND QUARTER FISCAL 2026 REVENUES OF $5.18 BILLION, NET INCOME OF $247 MILLION, AND ADJUSTED EBITDA OF $692 MILLION

Fox Corporation on February 11, 2026

FOX REPORTS SECOND QUARTER FISCAL 2026 REVENUES OF $5.18 BILLION, NET INCOME OF $247 MILLION, AND ADJUSTED EBITDA OF $692 MILLION

PR Newswire

NEW YORK, Feb. 4, 2026

NEW YORK, Feb. 4, 2026 /PRNewswire/ — Fox Corporation (Nasdaq: FOXA, FOX; “FOX” or the “Company”) today reported financial results for the three months ended December 31, 2025.

The Company reported total quarterly revenues of $5.18 billion, an increase of $104 million or 2% from the amount reported in the prior year quarter. Distribution revenues increased 4%, primarily driven by 5% growth at the Cable Network Programming segment. Advertising revenues increased 1%, primarily due to higher sports and news pricing, continued digital growth led by the Tubi AVOD service, and the impact of additional MLB postseason games, partially offset by lower political advertising revenues and lower ratings. Content and other revenues were essentially unchanged from the prior year quarter.

The Company reported quarterly net income of $247 million as compared to the $388 million reported in the prior year quarter. Net income attributable to Fox Corporation stockholders was $229 million ($0.52 per share) as compared to the $373 million ($0.81 per share) reported in the prior year quarter. Adjusted net income attributable to Fox Corporation stockholders¹ was $360 million ($0.82 per share) as compared to the $442 million ($0.96 per share) reported in the prior year quarter.

Quarterly Adjusted EBITDA² was $692 million as compared to $781 million reported in the prior year quarter as the revenue increase noted above was more than offset by higher expenses. The increase in expenses was primarily due to higher sports programming rights amortization and production costs, and higher digital marketing costs, partially offset by lower entertainment programming rights amortization and production costs.

Commenting on the results, Executive Chair and Chief Executive Officer Lachlan Murdoch said:

“FOX delivered robust results in the second quarter of fiscal 2026 with broad based contributions from across our portfolio, including notable strength in advertising, where despite strong political advertising revenues a year ago, we still grew total company advertising revenue. These results represent a continuation of the operating and financial momentum that we have delivered over the last several years and are a product of both a highly differentiated strategy and high quality execution that reflect the power of our leadership brands across news, sports, streaming and entertainment.”

REVIEW OF OPERATING RESULTS

	Three Months Ended December 31,		Six Months Ended December 31,
	2025	2024	2025	2024
	$ Millions
Revenues by Component:

Distribution³	$ 2,002	$ 1,933	$ 3,917	$ 3,801
Advertising	2,455	2,422	3,867	3,751
Content and other	725	723	1,136	1,090
Total revenues	$ 5,182	$ 5,078	$ 8,920	$ 8,642

Segment Revenues:

Cable Network Programming	$ 2,275	$ 2,165	$ 3,937	$ 3,762
Television	2,937	2,961	4,987	4,914
Corporate and Other	124	58	213	123
Eliminations	(154)	(106)	(217)	(157)
Total revenues	$ 5,182	$ 5,078	$ 8,920	$ 8,642

Adjusted EBITDA:

Cable Network Programming	$ 687	$ 657	$ 1,487	$ 1,405
Television	143	205	542	577
Corporate and Other	(138)	(81)	(272)	(153)
Adjusted EBITDA⁴	$ 692	$ 781	$ 1,757	$ 1,829

Depreciation and amortization:

Cable Network Programming	$ 27	$ 25	$ 53	$ 45
Television	30	30	60	59
Corporate and Other	43	42	85	84
Total depreciation and amortization	$ 100	$ 97	$ 198	$ 188

CABLE NETWORK PROGRAMMING

	Three Months Ended December 31,		Six Months Ended December 31,
	2025	2024	2025	2024
	$ Millions
Revenues
Distribution	$ 1,163	$ 1,109	$ 2,253	$ 2,171
Advertising	491	460	836	781
Content and other	621	596	848	810
Total revenues	2,275	2,165	3,937	3,762
Operating expenses	(1,426)	(1,354)	(2,129)	(2,056)
Selling, general and administrative	(162)	(158)	(321)	(309)
Amortization of cable distribution investments	—	4	—	8
Segment EBITDA	$ 687	$ 657	$ 1,487	$ 1,405

Cable Network Programming reported quarterly segment revenues of $2.28 billion, an increase of $110 million or 5% from the amount reported in the prior year quarter. Distribution revenues increased $54 million or 5% as contractual price increases were partially offset by the impact of net subscriber declines. Advertising revenues increased $31 million or 7%, primarily due to higher news and sports pricing, partially offset by lower ratings. Content and other revenues increased $25 million or 4%, primarily due to higher sports sublicensing revenues.

Cable Network Programming reported quarterly segment EBITDA of $687 million, an increase of $30 million or 5% from the amount reported in the prior year quarter, primarily due to the revenue increase noted above, partially offset by higher expenses. The increase in expenses was driven by higher sports programming rights amortization and production costs, partially offset by lower newsgathering costs.

TELEVISION

	Three Months Ended December 31,		Six Months Ended December 31,
	2025	2024	2025	2024
	$ Millions
Revenues
Advertising	$ 1,964	$ 1,962	$ 3,031	$ 2,970
Distribution	831	824	1,652	1,630
Content and other	142	175	304	314
Total revenues	2,937	2,961	4,987	4,914
Operating expenses	(2,521)	(2,499)	(3,906)	(3,832)
Selling, general and administrative	(273)	(257)	(539)	(505)
Segment EBITDA	$ 143	$ 205	$ 542	$ 577

Television reported quarterly segment revenues of $2.94 billion as compared to the $2.96 billion reported in the prior year quarter. Advertising revenues were essentially unchanged from the prior year quarter as continued digital growth led by the Tubi AVOD service, the impact of additional MLB postseason games, and higher sports pricing were offset by lower political advertising revenues and lower ratings. Distribution revenues increased $7 million or 1%, driven by higher average rates at the Company’s owned and operated television stations and increases in fees from third-party FOX affiliates. Content and other revenues were $142 million as compared to the $175 million reported in the prior year quarter, primarily due to lower entertainment content and other revenues which were impacted by the timing of deliveries.

Television reported quarterly segment EBITDA of $143 million as compared to the $205 million reported in the prior year quarter, primarily due to higher expenses. The increase in expenses was led by higher sports programming rights amortization and production costs and higher digital content costs, partially offset by lower entertainment programming rights amortization and production costs.

DIVIDEND

The Company has declared a dividend of $0.28 per Class A and Class B share. This dividend is payable on March 25, 2026 with a record date for determining dividend entitlements of March 4, 2026.

SHARE REPURCHASE PROGRAM

As of December 31, 2025, the Company has cumulatively repurchased approximately $6.6 billion of its Class A common stock and approximately $1.8 billion of its Class B common stock, with a remaining authorization of $3.6 billion. During the quarter, the Company repurchased approximately $750 million of its Class A common stock and $800 million of its Class B Common stock.

CAUTIONARY STATEMENT CONCERNING 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 “may,” “will,” “should,” “likely,” “anticipates,” “expects,” “intends,” “plans,” “projects,” “believes,” “estimates,” “outlook” and similar expressions are used to identify these forward-looking statements. These statements are based on management’s current expectations and beliefs and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements in this press release due to changes in economic, business, competitive, technological, strategic and/or regulatory factors and other factors affecting the operation of the Company’s businesses. More detailed information about these factors is contained in the documents the Company has filed with or furnished to the Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q.

Statements in this press release speak only as of the date they were made, and the Company undertakes no duty to update or release any revisions to any forward-looking statement made in this press release or to report any events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events or to conform such statements to actual results or changes in the Company’s expectations, except as required by law.

To access a copy of this press release through the Internet, access Fox Corporation’s corporate website located at http://www.foxcorporation.com.

CONSOLIDATED STATEMENTS OF OPERATIONS

	Three Months Ended December 31,		Six Months Ended December 31,
	2025	2024	2025	2024
	$ Millions, except per share amounts

Revenues	$ 5,182	$ 5,078	$ 8,920	$ 8,642

Operating expenses	(3,895)	(3,776)	(5,979)	(5,794)
Selling, general and administrative	(595)	(525)	(1,184)	(1,027)
Depreciation and amortization	(100)	(97)	(198)	(188)
Restructuring, impairment and other corporate matters	(14)	(170)	(6)	(196)
Equity earnings of affiliates	3	4	2	7
Interest expense, net	(98)	(80)	(148)	(130)
Non-operating other, net	(161)	81	(286)	314
Income before income tax expense	322	515	1,121	1,628
Income tax expense	(75)	(127)	(265)	(408)
Net income	247	388	856	1,220
Less: Net income attributable to noncontrolling interests	(18)	(15)	(28)	(20)
Net income attributable to Fox Corporation stockholders	$ 229	$ 373	$ 828	$ 1,200


Weighted average shares:	441	462	448	463

Net income attributable to Fox Corporation stockholders per share:	$ 0.52	$ 0.81	$ 1.85	$ 2.59

CONSOLIDATED BALANCE SHEETS

	December 31, 2025	June 30, 2025
	$ Millions
Assets:
Current assets:
Cash and cash equivalents	$ 2,017	$ 5,351
Receivables, net	3,557	2,472
Inventories, net	828	432
Other	324	174
Total current assets	6,726	8,429

Non-current assets:
Property, plant and equipment, net	1,739	1,705
Intangible assets, net	2,951	2,969
Goodwill	3,638	3,639
Deferred tax assets	2,621	2,721
Other non-current assets	3,796	3,732
Total assets	$ 21,471	$ 23,195

Liabilities and Equity:
Current liabilities:
Accounts payable, accrued expenses and other current liabilities	$ 2,416	$ 2,897
Total current liabilities	2,416	2,897

Non-current liabilities:
Borrowings	6,604	6,602
Other liabilities	1,329	1,341
Redeemable noncontrolling interests	84	288
Commitments and contingencies

Equity:
Class A common stock, $0.01 par value	2	2
Class B common stock, $0.01 par value	2	2
Additional paid-in capital	7,264	7,603
Retained earnings	3,783	4,479
Accumulated other comprehensive loss	(123)	(124)
Total Fox Corporation stockholders’ equity	10,928	11,962
Noncontrolling interests	110	105
Total equity	11,038	12,067
Total liabilities and equity	$ 21,471	$ 23,195

CONSOLIDATED STATEMENTS OF CASH FLOWS

	Six Months Ended December 31,
	2025	2024
	$ Millions
OPERATING ACTIVITIES:
Net income	$ 856	$ 1,220
Adjustments to reconcile net income to net cash used in operating activities
Depreciation and amortization	198	188
Restructuring, impairment and other corporate matters	6	196
Equity-based compensation	60	68
Equity earnings of affiliates	(2)	(7)
Cash distributions received from affiliates	—	13
Non-operating other, net	286	(314)
Deferred income taxes	100	145
Change in operating assets and liabilities, net of acquisitions and dispositions
Receivables and other assets	(1,173)	(1,190)
Inventories net of programming payable	(937)	(431)
Accounts payable and accrued expenses	(92)	(75)
Other changes, net	(101)	(17)
Net cash used in operating activities	(799)	(204)

INVESTING ACTIVITIES:
Property, plant and equipment	(226)	(138)
Purchase of investments	(143)	(79)
Other investing activities, net	(24)	(23)
Net cash used in investing activities	(393)	(240)

FINANCING ACTIVITIES:
Repurchase of shares	(1,800)	(500)
Dividends paid and distributions	(147)	(134)
Purchase of noncontrolling interest	(208)	—
Other financing activities, net	13	81
Net cash used in financing activities	(2,142)	(553)

Net decrease in cash and cash equivalents	(3,334)	(997)
Cash and cash equivalents, beginning of year	5,351	4,319
Cash and cash equivalents, end of period	$ 2,017	$ 3,322

NOTE 1 – ADJUSTED NET INCOME AND ADJUSTED EPS

The Company uses net income attributable to Fox Corporation stockholders and earnings per share (“EPS”) attributable to Fox Corporation stockholders excluding net income effects of Restructuring, impairment and other corporate matters, adjustments to Equity earnings (losses) of affiliates, Non-operating other, net, Tax provision and Noncontrolling interest adjustments (“Adjusted Net Income” and “Adjusted EPS” respectively) to evaluate the performance of the Company’s operations exclusive of certain items that impact the comparability of results from period to period.

Adjusted Net Income and Adjusted EPS may not be comparable to similarly titled measures reported by other companies. Adjusted Net Income and Adjusted EPS are not measures of performance under GAAP and should be considered in addition to, and not as substitutes for, net income attributable to Fox Corporation stockholders and EPS as reported in accordance with GAAP. However, management uses these measures in comparing the Company’s historical performance and believes that they provide meaningful and comparable information to management, investors and equity analysts to assist in their analysis of the Company’s performance relative to prior periods and the Company’s competitors.

The following table reconciles net income attributable to Fox Corporation stockholders and EPS attributable to Fox Corporation stockholders to Adjusted Net Income and Adjusted EPS for the three months ended December 31, 2025 and 2024:

	Three Months Ended
	December 31, 2025		December 31, 2024
	Income	EPS	Income	EPS
	$ Millions, except per share data
Net income attributable to Fox Corporation stockholders	$ 229	$ 0.52	$ 373	$ 0.81

Restructuring, impairment and other corporate matters	14	0.03	170	0.37

Non-operating other, net	161	0.37	(81)	(0.18)

Tax provision	(44)	(0.10)	(20)	(0.04)

As adjusted	$ 360	$ 0.82	$ 442	$ 0.96

NOTE 2 – ADJUSTED EBITDA

Adjusted EBITDA is defined as Revenues less Operating expenses and Selling, general and administrative expenses. Adjusted EBITDA does not include: Depreciation and amortization, Restructuring, impairment and other corporate matters, Equity earnings (losses) of affiliates, Interest expense, net, Non-operating other, net and Income tax expense. Effective July 1, 2025, the Company no longer removes the impact of amortization of cable distribution investments when calculating Adjusted EBITDA. Prior periods were not restated as the impact of the change is immaterial to the calculation.

Management believes that information about Adjusted EBITDA assists all users of the Company’s Unaudited Consolidated Financial Statements by allowing them to evaluate changes in the operating results of the Company’s portfolio of businesses separate from non-operational factors that affect Net income, thus providing insight into both operations and the other factors that affect reported results. Adjusted EBITDA provides management, investors and equity analysts a measure to analyze the operating performance of the Company’s business and its enterprise value against historical data and competitors’ data, although historical results, including Adjusted EBITDA, may not be indicative of future results (as operating performance is highly contingent on many factors, including customer tastes and preferences).

Adjusted EBITDA is considered a non-GAAP financial measure and should be considered in addition to, not as a substitute for, net income, cash flow and other measures of financial performance reported in accordance with GAAP. In addition, this measure does not reflect cash available to fund requirements and excludes items, such as depreciation and amortization and impairment charges, which are significant components in assessing the Company’s financial performance. Adjusted EBITDA may not be comparable to similarly titled measures reported by other companies.

The following table reconciles net income to Adjusted EBITDA for the three and six months ended December 31, 2025 and 2024:

	Three Months Ended December 31,		Six Months Ended December 31,
	2025	2024	2025	2024
	$ Millions
Net income	$ 247	$ 388	$ 856	$ 1,220
Add:
Amortization of cable distribution investments	—	4	—	8
Depreciation and amortization	100	97	198	188
Restructuring, impairment and other corporate matters	14	170	6	196
Equity earnings of affiliates	(3)	(4)	(2)	(7)
Interest expense, net	98	80	148	130
Non-operating other, net	161	(81)	286	(314)
Income tax expense	75	127	265	408
Adjusted EBITDA	$ 692	$ 781	$ 1,757	$ 1,829

________________________________________________________
1	Excludes net income effects of Restructuring, impairment and other corporate matters, adjustments to Equity earnings (losses) of affiliates, Non-operating other, net, Tax provision and Noncontrolling interest adjustments. See Note 1 for a description of adjusted net income attributable to Fox Corporation stockholders and adjusted earnings per share attributable to Fox Corporation stockholders, which are considered non-GAAP financial measures, and a reconciliation of reported net income attributable to Fox Corporation stockholders and earnings per share attributable to Fox Corporation stockholders to adjusted net income attributable to Fox Corporation stockholders and adjusted earnings per share attributable to Fox Corporation stockholders.
2	Adjusted EBITDA is considered a non-GAAP financial measure. See Note 2 for a description of Adjusted EBITDA and a reconciliation of net income to Adjusted EBITDA.
3	The Company generates distribution revenue from agreements with MVPDs for cable network programming and retransmission fees for the broadcast of the Company’s owned and operated television stations and from subscription fees for the Company’s direct-to-consumer streaming services. In addition, the Company generates distribution revenue from agreements with independently owned television stations that are affiliated with the FOX Network. Prior period amounts have been reclassified to conform to the current presentation.
4	Adjusted EBITDA is considered a non-GAAP financial measure. See Note 2 for a description of Adjusted EBITDA and a reconciliation of net income to Adjusted EBITDA.

View original content to download multimedia:https://www.prnewswire.com/news-releases/fox-reports-second-quarter-fiscal-2026-revenues-of-5-18-billion-net-income-of-247-million-and-adjusted-ebitda-of-692-million-302678935.html

SOURCE Fox Corporation

Shannon Hill Provides Corporate Update; Capital Structure Confirmed Unchanged per Transfer Agent as of February 4, 2026

Blaqclouds Inc. on February 11, 2026

ROBESONIA, Pa., Feb. 04, 2026 (GLOBE NEWSWIRE) — BLAQclouds, Inc. (OTC: BCDS), a company focused on Web3 infrastructure, fintech, and Web3 payments, today issued the following market update from Shannon Hill, Chief Executive Officer and Chairman of the Board.

Capital Structure Confirmation (Transfer Agent):

The Company confirms that, according to its transfer agent, Dominion Transfer, Inc., as of February 4, 2026, the Company’s capital structure has not changed in any way. Authorized common shares remain 1,000,000,000, with 915,812,392 common shares issued and outstanding.

Debt and Issuance Status (Company Statement):

The Company further states that it is 100% debt-free and has issued no debt of any kind. In addition, the Company states that there have been no stock issuances and no stock conversions, whether restricted or unrestricted, during this period.

“We recognize the market’s focus on transparency, especially around capital structure and liquidity conditions,” said Shannon Hill, CEO of BLAQclouds, Inc. “As of February 4, 2026, our transfer agent confirms there has been no change to our authorized shares or our issued and outstanding common shares. We also want to be clear that the Company is debt-free, has issued no debt of any kind, and has completed no stock issuances or stock conversions, restricted or otherwise. We will continue to build innovative technology and launch it to a diverse audience of users.”

Recent Trading Volume Snapshot (OTC:BCDS)

Below are the last 3 biggest trading-volume days up to Feb 3, 2026 daily-history window (by share volume), per publicly available market information:

ApolloCASH is a next-generation global remittance and settlement platform built on atomic settlement architecture and powered by what the company defines as:

Autonomous Protocol for One-Time Liquidity & Ledger Operations using Cash Rails

“Enrollapalooza” Competition Launch (ApolloCASH Registered Users)

Effective February 4, 2026 at 9:00 AM EDT, the Company is launching “Enrollapalooza,” a limited-time referral competition for registered ApolloCASH users who invite new users to ApolloCASH.io using their custom referral link.

Competition Window:

Begins: February 4, 2026 at 9:00 AM EDT
Ends: February 13, 2026 at 5:00 PM EST (ahead of Valentine’s Day)

Prize / Match Mechanic:

The first eligible participant to reach $1,000 in referral fees during the competition window will have that amount matched 1:1 by the Company, up to $1,000 USD (maximum match: $1,000 USD).

Important Notes:

“First” is determined by the Company’s internal tracking and reconciliation of referral-fee accruals during the competition window.
Eligibility requires a valid registered account and compliance with platform terms and applicable law.
The Company reserves the right to disqualify fraudulent, manipulated, or non-compliant activity, and to modify or end the competition where required by law.
Any applicable taxes, reporting, or fees are the responsibility of the recipient. Void where prohibited.

To enroll, go to www.ApolloCASH.io and create your free account and go to Refer & Earn to get your personal custom referral link.

About BLAQclouds, Inc.
BLAQclouds bridges traditional finance and decentralized ecosystems, building seamless, real-world blockchain applications that simplify commerce and payments. Its mission is to make spending crypto as easy, trusted, and usable as traditional currency.

Flagship consumer applications include:
– ShopWithCrypto.io – Crypto-to-gift card commerce
– BLAQpay.io – Web3 payments and merchant plugins
– DEX.ZEUSx.io – EVM-compatible decentralized exchange
– ApolloWallet.io – Secure, consumer-grade blockchain wallet
– ApolloCASH – C2C Blockchain Based Global Remittance
– ApolloID – TLD name service for .ZEUS and .APOLLO

For a full list of platforms and solutions from BLAQclouds Nevada and Wyoming, visit: www.BLAQclouds.io. For official BLAQclouds updates and information, please join https://www.thealley.io/group/BLAQclouds-inc/discussion.

BLAQclouds, Inc. is registered with FINCEN as an MSB (Money Service Business). The BSA ID registration number awarded by FINCEN is 31000313564202 and is used for ShopwithCrypto.io, DinewithCrypto.io, ZEUSEnergy.io, BitNotify.io, Ampleswap.com, ZEUSChainScan.io, ApolloScan.io, BLAQpay.io, ApolloID.io, ApolloWallet.io, ApolloCASH.io and ZXUSD.io.

Forward-Looking Statements

This press release contains certain 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, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that, all forward-looking statements involve risks and uncertainties, including without limitation, the ability of BLAQclouds, Inc. to accomplish its stated plan of business. BLAQclouds, Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward- looking statements included herein, the inclusion of such information should not be regarded as a representation by BLAQclouds Inc. or any other person.

This press release also contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve certain risks and uncertainties that may cause actual results to differ materially. BLAQclouds, Inc. assumes no obligation to update or revise any forward-looking statements.

Media Contact
BLAQclouds, Inc.
c/o www.theAlley.io
Email: hello@BLAQclouds.io
Phone: 610-621-4804
Website: www.BLAQclouds.io

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/cb450fb4-ff4d-4932-8130-e3db88bd8f0a

https://www.globenewswire.com/NewsRoom/AttachmentNg/17ab78b9-326b-4412-b5b6-6252718272bd

https://www.globenewswire.com/NewsRoom/AttachmentNg/81bf7b30-fb77-45bd-80e4-3e2b147ef4a8

https://www.globenewswire.com/NewsRoom/AttachmentNg/54f696a7-7b74-4ca6-a622-9b4ab69e0b70