UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934, for the Fiscal Year Ended December 31, 2025 Commission File Number: 001-15781 BEACON FINANCIAL CORPORATION (Exact name of registrant as specified in its charter) Delaware 04-3510455 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 131 Clarendon Street Boston MA 02116 (Address of principal execu ...

Financial Performance - Net investment income decreased to $0.20 per common share for the quarter ended December 31, 2025, down from $0.22 per common share for the quarter ended September 30, 2025[5]. - Net loss on investments was $1.01 per common share for the quarter ended December 31, 2025, primarily due to net unrealized depreciation of $0.96 per common share[5]. - Total investment income decreased by $1.2 million to $9.369 million for the quarter ended December 31, 2025, compared to $10.551 million for the quarter ended September 30, 2025[13]. - Net investment income for the year ended December 31, 2025, was $12,384,000, down from $16,712,000 in 2024, reflecting a decrease of approximately 25.5%[23]. - Net realized loss on investments for the year was $12,158,000, compared to a loss of $17,121,000 in 2024, indicating an improvement in investment performance[23]. Asset and Liability Management - Net asset value per common share decreased to $9.19 at December 31, 2025, from $10.17 at September 30, 2025[5]. - Total assets decreased to $346,706,000 in 2025 from $428,123,000 in 2024, a reduction of about 19.0%[22]. - Total liabilities decreased to $223,518,000 in 2025 from $255,898,000 in 2024, a reduction of about 12.6%[22]. - Total outstanding debt decreased to $220.5 million as of December 31, 2025, down from $239.2 million at September 30, 2025[6]. Investment Portfolio - Total investments at fair value were $342.0 million, which was approximately 104% of amortized cost[12]. - Total investments at fair value decreased to $342,015,000 in 2025 from $409,665,000 in 2024, representing a decline of approximately 16.5%[22]. Distributions - A distribution of $0.17 per common share for the first quarter of 2026 was declared, payable on March 31, 2026[5]. - Distributions declared per common share for the year were $1.19, down from $1.36 in 2024, a decrease of approximately 12.5%[23]. Cash and Cash Equivalents - As of December 31, 2025, the company had $3.4 million of cash and cash equivalents[17]. Investment Strategy - The company targets investments of $3 million to $20 million in privately held middle-market companies with annual EBITDA between $5 million and $50 million[24]. - OFS Capital's investment activities are managed by OFS Capital Management, LLC, which is registered under the Investment Advisers Act of 1940[24]. Forward-Looking Statements - Forward-looking statements indicate potential risks and uncertainties that may affect future results, as detailed in the Annual Report filed with the SEC[25]. Yield Information - The weighted-average performing income yield increased to 13.5% from 13.3% during the quarter ended September 30, 2025[7]. Expense Management - Total expenses decreased by $0.9 million to $6.673 million for the quarter ended December 31, 2025, compared to $7.611 million for the quarter ended September 30, 2025[15].

Asset Sales and Dispositions - Aimco closed $1.26 billion in strategic asset sales during 2025, including a suburban Boston property for $250 million and the Brickell Assemblage for $520 million[11]. - Aimco has ten properties under contract to sell for approximately $510 million, with expected closings in Q1 2026[8]. - The company plans to market all remaining stabilized properties and development assets by mid-2026[19]. - Aimco disposed of the Suburban Boston portfolio for gross proceeds of $740 million, with a cap rate of 6.6%[70]. - The total property dispositions for 2025 amounted to $1,260 million, with net sales proceeds after debt repayment of $399 million[70]. - Gross sales price for assets sold in 2026 is estimated at $177.5 million, with an additional $501.5 million for assets under contract[72]. - Non-recourse property debt, net, is estimated at $(411.3) million for assets sold in 2026[72]. Financial Performance - Net income attributable to common stockholders per share was $2.08 for Q4 2025 and $3.87 for the full year 2025[12]. - Aimco reported a net income of $318,664,000 for Q4 2025, compared to a loss of $7,637,000 in Q4 2024[52]. - Net income attributable to Aimco for Q4 2025 was $300,517,000, a substantial recovery from a loss of $9,820,000 in Q4 2024[49]. - Income before income tax benefit for the three months ended December 31, 2025, was $101,892,000, compared to a loss of $17,964,000 for the same period in 2024[98]. - Total rental income for the twelve months ended December 31, 2025, was $138,486,000, a slight increase from $137,700,000 in 2024[99]. - Total Property NOI for the twelve months ended December 31, 2025, was $70,131,000, reflecting an increase from $69,623,000 in 2024[99]. Distributions and Shareholder Returns - Aimco expects to distribute between $5.75 and $7.10 per share in total liquidating distributions, with an initial distribution of $1.45 per share scheduled for March 2026[10]. - Aimco announced an initial liquidating distribution of $1.45 per share, totaling approximately $220 million, to be paid on March 13, 2026[33]. - In 2025, Aimco paid $2.83 per share in special cash dividends[33]. - Estimated total distributions for 2Q 2026 are projected to be between $5.75 and $7.10 per share[72]. - Expected distribution from remaining stabilized assets is projected to be between $0.25 and $0.30 per share[72]. - Estimated distribution from land holdings, development, and lease-up properties is projected to be between $2.30 and $3.30 per share[72]. - Cash and other assets are estimated to be valued between $135.8 million and $165.9 million, with an expected distribution from these assets between $0.90 and $1.10 per share[72]. Operational Metrics - Property Net Operating Income (NOI) from Stabilized Operating Properties was $9.9 million in Q4 2025, up 0.5% year-over-year, and $38.0 million for the full year, down 0.3% year-over-year[12]. - Average Daily Occupancy for Stabilized Operating Properties was 96.9% in Q4 2025, down from 97.9% year-over-year[27]. - Aimco's revenue from Stabilized Operating Properties increased by 1.8% year-over-year to $14.5 million in Q4 2025[27]. - Average revenue per apartment home in Q4 2025 was $2,509, a slight increase from $2,448 in Q4 2024[67]. - Aimco's occupancy rate for stabilized properties was 96.9% in Q4 2025, compared to 97.9% in Q4 2024[67]. - The company reported a 36.1% increase in NOI for held-for-sale properties, reaching $1,398 million in Q4 2025[67]. Debt and Financial Health - Aimco's total cash on hand as of December 31, 2025, was $394.9 million, with an additional $11.7 million in restricted cash[32]. - The company plans to retire approximately $110 million of construction debt and preferred equity borrowings as part of its ongoing strategy[18]. - Aimco's total indebtedness decreased to $738,625,000 in 2025 from $829,666,000 in 2024, demonstrating effective debt management[51]. - Aimco's total non-recourse debt amounts to $3.612 billion, with property debt secured by assets held for sale totaling $746.293 million[54]. - Cash and cash equivalents increased significantly to $394,891,000 in 2025 from $141,072,000 in 2024, enhancing liquidity[51]. Development Projects - The company has three active development projects totaling 1,023 units, with Upton Place in Washington, D.C. having a pre-leased occupancy of 76%[64]. - Aimco's development land includes 20.8 acres for future projects, with significant parcels located in Fort Lauderdale and Aurora, Colorado[61]. - The estimated stabilization for Upton Place is projected for 2Q 2026, while Strathmore Square is expected to stabilize in 2Q 2027[64]. - Projected annual stabilized Property NOI for development and lease-up properties is estimated to be between $33.9 million and $36.8 million for 2027[72]. - Aimco expects to stabilize NOI for the 34th Street development at $18.0 million by 2029[74]. Share Repurchase and Equity - Since the start of 2022, Aimco has repurchased 14.5 million shares at an average price of $7.53 per share[33]. - In Q4 2025, Aimco Operating Partnership redeemed 12,493 units of equity securities for cash at a weighted average price of $7.43 per unit[33]. - For the year 2025, Aimco redeemed 76,383 units for cash at a weighted average price of $8.48 per unit[33]. - The total shares and potentially dilutive share equivalents outstanding as of December 31, 2025, is 150.982 million[55]. - Total shares, units, and maximum dilutive share equivalents amount to 151.4 million[72]. Impairments and Expenses - The company recorded an impairment on real estate of $90,082,000 in Q4 2025, impacting overall profitability[49]. - Total operating expenses surged to $131,125,000 in Q4 2025, compared to $46,646,000 in Q4 2024, reflecting a significant increase due to impairment charges[49]. - Property operating expenses for the three months ended December 31, 2025, totaled $17,163,000, compared to $18,466,000 in 2024, indicating a reduction of about 7%[99]. - Impairment on real estate for the twelve months ended December 31, 2025, was $147,456,000, with no impairment recorded in the previous year[98]. - Interest expense for the twelve months ended December 31, 2025, was $59,429,000, consistent with $59,364,000 in 2024[98]. - The company reported a credit loss expense of $22,899,000 for the three months ended December 31, 2025, with no such expense in the prior year[98]. Strategic Plans - Aimco's strategic liquidation plan was approved by common stockholders on February 6, 2026, aimed at maximizing stockholder returns[38]. - The company plans to sell all assets in an orderly fashion and return net proceeds to stockholders after settling liabilities[40]. - Aimco intends to maintain its listing on the New York Stock Exchange, subject to compliance with listing requirements[36]. - The company is focused on diversifying its real estate portfolio across price points, geography, and opportunity, with ongoing developments and stabilized operations[102].

Table of Contents 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 For the transition period from to Commission file number: 1-34392 Plug Power Inc. (Exact Name of Registrant as Specified in Its Charter) Delaware 22-3672377 (State or Other Jurisdiction ( ...

Exhibit 99.1 Riot Platforms Reports Full Year 2025 Financial Results and Strategic Highlights "With proven development expertise, a world-class asset base of readily available power in key data center markets, and over $1.9 billion in liquidity, we are uniquely equipped to aggressively scale our infrastructure footprint. Supported by record annual revenue of $647 million and $302 million in gross profit, Riot has never been in a stronger position. I am incredibly excited about our momentum as we build the n ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Form 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE YEAR ENDED DECEMBER 31, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 0-21220 ALAMO GROUP INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of (I.R.S. Employer Delaware 74-1621248 incorporation or organization) Identificati ...

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 001-40800 TYRA BIOSCIENCES, INC. (Exact name of Registrant as specified in its Charter) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Delaware 83-1476348 (State or other jurisdiction ...

For: Alamo Group Inc. Contact: Edward Rizzuti EVP Corporate Development & Investor Relations 830-372-9600 SEGUIN, Texas, March 2, 2026 -- Alamo Group Inc. (NYSE: ALG) today reported results for the fourth quarter and fiscal year ended December 31, 2025. Highlights: Fourth Quarter Results: Full Year Results: • Net sales of $373.7 million compared to $385.3 million in the fourth quarter of 2024 • Fully diluted EPS was $1.28 per share and adjusted fully diluted EPS was $1.70 per share • Adjusted EBITDA of $44. ...

Cash Flow - Net cash provided by operating activities increased to $28.6 million for the year ended December 31, 2025, compared to a cash outflow of $37.0 million in 2024, primarily driven by higher product sales [477]. - Net cash used in investing activities was $696.0 thousand for the year ended December 31, 2025, a significant decrease from $4.9 million in cash provided in 2024, due to fewer purchases of short-term investments [478]. - Net cash provided by financing activities was $11.4 million for the year ended December 31, 2025, down from $36.2 million in 2024, influenced by proceeds from stock awards and common shares issuance [479]. - The company reported a net cash inflow of $20.7 million from warrants, offset by a $10.9 million repurchase of common stock for tax withholding [481]. Revenue Recognition - The company recognizes revenue when control of goods is obtained by customers, with revenues recorded at net product sales price after accounting for allowances [486]. - The company participates in federal and state government rebate programs, accruing estimated rebates based on actual average amounts and expected prescriptions [488]. Interest and Debt - Interest income from cash and investments could increase or decrease by approximately $1.0 million annually with a hypothetical one-percentage point change in interest rates [493]. - The company’s long-term debt incurs interest at a floating rate of 6.95%, with a fixed rate of 8.0% on the 2028 Convertible Notes, limiting exposure to interest rate risk [494]. Foreign Currency Impact - Foreign currency exchange rates did not materially affect the company's results for the year ended December 31, 2025 [495].

Financial Performance - The company incurred net losses of $73.6 million and $86.6 million in 2025 and 2024, respectively, with an accumulated deficit of $466.0 million as of December 31, 2025[154]. - The company expects to continue incurring significant losses as it invests in the development and commercialization of the Proteograph Product Suite and related products[154]. - The company's operating results may fluctuate significantly, making future performance difficult to predict and potentially causing stock price volatility[158]. - The company may need to raise additional capital due to potential liquidity requirements, which could involve issuing equity or debt securities[234][235]. - The company has not paid dividends in the past and does not expect to pay dividends in the future, focusing instead on retaining earnings for operations and R&D[339]. - As of December 31, 2025, the company had U.S. federal net operating loss carryforwards (NOLs) of $262.4 million and state NOLs of $226.6 million, expiring in 2035 for state purposes[347]. - Changes in ownership may limit the NOLs available for U.S. federal income tax purposes, potentially increasing tax liabilities[348]. - Recent California legislation limits the use of state NOLs for tax years beginning on or after January 1, 2024, which may affect the company's ability to utilize NOLs even if profitability is achieved[349]. Market and Product Development - The company is in the commercialization stage of the Proteograph Product Suite, which may not achieve broad scientific and market acceptance, impacting future revenues[169]. - The market for the Proteograph Product Suite may be smaller than estimated, and new market opportunities may not develop as quickly as anticipated, limiting sales potential[163]. - The success of the Proteograph Product Suite depends on the ability to establish its value proposition with key opinion leaders and customers[165]. - The company expects to generate substantially all of its revenue from the sale of the Proteograph Product Suite and associated consumables and services for the foreseeable future[194]. - The successful commercialization of the Proteograph Product Suite depends on the company's ability to enhance and improve the product, as well as introduce new products and services[179]. - The company plans to increase sales and marketing efforts to drive market adoption of the Proteograph Product Suite[237]. Risks and Challenges - The company faces risks related to the timing and cost of research and development activities, which may impact revenue generation[158]. - The company has a limited operating history, making it challenging to evaluate its current business and future viability[155]. - The commercialization of the Proteograph Product Suite may be hindered by delays in sales cycles and manufacturing ramp-up[172]. - The company faces risks in attracting and retaining a qualified sales, marketing, and customer service team necessary for the commercialization of the Proteograph Product Suite[178]. - The development cycle for new life sciences products is lengthy and complex, which may affect the timely introduction of new technologies or products[180]. - Adverse developments in the financial services industry could impair the company's ability to access cash and meet financial obligations[186]. - The company may need to implement additional cost-saving measures, including workforce reductions, which could impact its ability to pursue new opportunities[191]. - Recent budget cuts and layoffs at federal agencies, including the NIH, have created uncertainty and may lead to reduced funding for life sciences research, adversely affecting customer purchases of the company's products[201]. Supply Chain and Manufacturing - The company relies on a single contract manufacturer, Hamilton Company, for the Proteograph Product Suite, which poses risks related to supply and potential price increases[203]. - The complexity of manufacturing the Proteograph Product Suite may lead to difficulties in consistently meeting quality specifications and production timelines, impacting revenue generation[206]. - The company faces risks associated with the sourcing of components from limited suppliers, which could disrupt the supply chain and affect product delivery[205]. - As the company scales commercially, it may encounter challenges in maintaining product quality while increasing production volumes, potentially leading to defects and recalls[209]. - The company relies on commercial carriers for timely product delivery, and any disruptions in these services could harm its business operations[176]. Regulatory and Compliance - Compliance with international regulations, such as the GDPR, poses significant risks and could increase operational costs, affecting revenue and business operations[221]. - The company’s products are currently labeled as research use only (RUO) and are not intended for diagnostic procedures, which may require FDA approval if marketed for clinical diagnostics[251]. - Future regulatory compliance may necessitate the company to register as a medical device manufacturer, subjecting it to ongoing FDA controls and inspections[252]. - The FDA plans to reclassify certain high-risk in vitro diagnostics as Class II devices, which may require the company to invest significantly in obtaining FDA clearance[253]. - Legislative changes regarding FDA oversight of laboratory developed tests (LDTs) could affect the regulatory landscape and the company's ability to market its products[259]. Intellectual Property - The company relies on patent protection for its products, and failure to maintain adequate intellectual property rights could impair its competitive position[263]. - The patent application process is complex and costly, and the company may fail to secure necessary patents in a timely manner, affecting its market position[266]. - Changes in patent laws or interpretations may diminish the value of the company's intellectual property, leading to increased competition[268]. - The U.S. patent law landscape is uncertain and rapidly changing, which may adversely impact the company's existing patents and future patent applications[269]. - The company may face challenges in protecting its intellectual property rights globally, as some foreign jurisdictions do not offer the same level of protection as the U.S.[276]. - The company may face significant costs associated with defending against third-party claims of infringement, which could impact its financial resources[301]. - The company relies on a license from BWH for patents related to the Proteograph Product Suite, which is critical for its operations[307]. - The company may face litigation if it fails to comply with license agreements, which could lead to substantial costs and distract management[310]. Corporate Governance - The company has a share repurchase program authorized for up to $25.0 million of its Class A common stock, subject to market conditions and capital availability[335]. - The market price of the company's Class A common stock has been volatile, influenced by factors such as product launches, operating results, and market conditions[326]. - The company may fail to maintain compliance with Nasdaq listing requirements, which could lead to delisting and negatively impact stock price and capital access[324]. - The multi-class structure of the company's common stock may concentrate voting control and depress the trading price of Class A common stock[329]. - The company’s anti-takeover provisions may discourage changes in control, potentially affecting the trading price of its Class A common stock[344]. - Certain amendments to the company's bylaws require approval from stockholders holding two-thirds of the voting power, which may limit stockholder actions[345].