Revenue Performance - Preliminary, unaudited ORLADEYO net revenue for Q4 2025 was $151 million, representing a 22% year-over-year increase and a 36% increase on a comparable basis, excluding European ORLADEYO revenue for Q4 2024[12] - Preliminary, unaudited ORLADEYO net revenue for the full year 2025 was $601 million, reflecting a 37% year-over-year growth; excluding European ORLADEYO revenue, the net revenue was $563 million, marking a 43% increase on a comparable basis[12] Financial Position - As of December 31, 2025, the company reported preliminary, unaudited cash, cash equivalents, restricted cash, and investments totaling $338 million[12]

Financial Performance - Scripps reported Q4 2025 revenue of $560 million, a decrease of 23% or $168 million from the prior-year quarter[7]. - Loss attributable to shareholders was $44.9 million or 51 cents per share, compared to income of $80.3 million or 92 cents per share in the prior-year quarter[8]. - Operating revenues for Q4 2025 were $560,258, a decrease of 23.1% from $728,379 in Q4 2024[26]. - Total operating revenues for the year ended December 31, 2025 were $2,150,585, a decline of 14.3% from $2,509,772 in 2024[26]. - Net income for the three months ended December 31, 2025, was a loss of $28,501 compared to a profit of $95,387 in 2024, representing a significant decrease[38]. - Adjusted EBITDA for the three months ended December 31, 2025, was $86,374, down from $229,347 in 2024, indicating a decline of approximately 62.3%[41]. Revenue Segments - Core advertising revenue increased by 12% to $165 million in Q4 2025, with the largest category, services, up 20%[14]. - Scripps Networks segment revenue was $199 million, down 7.7% from the prior-year quarter, while segment profit increased to $63.5 million[12]. - Local Media segment revenues fell by 29.6% to $359,952 in Q4 2025, compared to $511,003 in Q4 2024[34]. - Scripps Networks segment revenues decreased by 7.7% to $199,489 in Q4 2025, down from $216,139 in Q4 2024[34]. - Political advertising revenue in the Local Media segment plummeted by 94.8% to $9,009 in Q4 2025, down from $174,359 in Q4 2024[35]. Costs and Expenses - Employee compensation and benefits in the Scripps Networks segment decreased by 26.7% to $21,807 in Q4 2025, compared to $29,736 in Q4 2024[35]. - Restructuring costs for Q4 2025 were $2,353, significantly lower than $14,872 in Q4 2024[34]. - Interest expense increased to $59,346 for the three months ended December 31, 2025, compared to $48,862 in 2024, an increase of about 21.4%[41]. - Capital expenditures for the three months ended December 31, 2025, were $13,748, compared to $10,980 in 2024, reflecting an increase of approximately 25.4%[42]. Debt and Liabilities - Total debt as of December 31 was $2.6 billion, with cash and cash equivalents totaling $27.9 million[14]. - Total current liabilities decreased from $482,394 in 2024 to $453,601 in 2025, a reduction of approximately 5.97%[36]. - Long-term debt (less current portion) increased slightly from $2,560,560 in 2024 to $2,585,534 in 2025, an increase of about 0.98%[36]. - The company did not declare or provide payment for any of the 2025 quarterly preferred stock dividends, totaling $117 million in undeclared and unpaid cumulative dividends[16]. Future Outlook - The company expects political advertising revenue to reach nearly $11 billion in the 2026 midterm election cycle, with Scripps well-positioned to capture a significant share[4]. - The transformation plan targets annualized enterprise EBITDA growth of $125-$150 million by 2028, with early benefits expected in the second half of 2026[5]. - For the full year 2026, Scripps anticipates interest payments of $180-$190 million and capital expenditures of $60-$70 million[20]. Assets and Shareholder Information - Total assets decreased from $5,198,575 in 2024 to $5,008,628 in 2025, a decline of approximately 3.65%[36]. - Basic weighted-average shares outstanding increased to 88,757 in 2025 from 86,312 in 2024, an increase of approximately 2.83%[38]. - The company reported a loss on extinguishment of debt of $2,404 for the three months ended December 31, 2025, with no such loss reported in 2024[41].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-36201 Immunic, Inc. (Exact name of registrant as specified in its charter) | Delaware | | 56-2358443 | | --- | --- | --- | | (State or ot ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-39460 KYMERA THERAPEUTICS, INC. (Exact name of Registrant as specified in its Charter) Delaware 81-2992166 (State or other jurisdicti ...

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