Corporate earnings and expansion updates

Monolithic Power Systems reported its 14th consecutive year of growth, with full-year 2025 revenue of $2.8 billion, up 26.4% from 2024. Fourth-quarter revenue reached a record $751.2 million, 1.9% above the prior quarter and 20.8% higher year over year. Management said non‑enterprise data end markets grew more than 40% in 2025, highlighting the company’s diversification beyond its largest segment.

Enterprise data revenue declined 2% in 2025 even as total company revenue rose, but executives said ordering patterns shifted in the fourth quarter. The book‑to‑bill ratio was “well in excess of one,” backlog began to extend into the second and third quarters of 2026, and channel inventory remained at the low end of the company’s range. Against that backdrop, management now views 50% growth in enterprise data for 2026 as a conservative floor, citing multiple large customers, design wins and available capacity.

Automotive revenue grew 43% year over year, driven initially by advanced driver‑assistance systems and increasingly by broader content across vehicle platforms, including 48‑volt and zonal architectures. The company also reported record module revenue and said new packaging innovations that increase current density to around three amps per millimeter squared have begun sampling, with initial shipments expected in early 2026.

Gross margin has tracked between about 55.5% and 55.8% over the last several quarters, which management called the low end of its long‑term 55%–60% target. Executives expect to resume a pattern of modest sequential margin improvement as backlog visibility improves. The quarterly dividend will rise 28% to $2 per share, and over the three years ended December 2025 the company returned more than 72% of free cash flow to shareholders via repurchases and dividends. Long‑time CFO Bernie Blegen will retire after 15 years at the company and 10 years as CFO; Corporate Controller Rob Dean has been named interim CFO.

NetScout Systems reported third‑quarter fiscal 2026 revenue of $250.7 million, roughly flat year over year but ahead of its outlook, helped by customers accelerating about $15 million of product orders and service renewals into the December quarter. Non‑GAAP gross margin was 82.8%, and non‑GAAP diluted EPS rose to $1.00. For the first nine months of fiscal 2026, revenue grew about 6%, with cybersecurity up 9% and enterprise revenue up 9.4%.

Management highlighted demand for AI observability and DDoS protection. Recent launches include Omnis AI Sensor and Streamer and the upcoming nGenius Edge Sensor 795, aimed at continuous observability across enterprise environments. NetScout raised the midpoint of its full‑year revenue guidance to $835–$870 million and its non‑GAAP EPS range to $2.37–$2.45, while cautioning that deal timing and customer server procurement could still shift orders between quarters.

News Corp’s second‑quarter fiscal 2026 revenue rose 6% year over year to $2.4 billion, and total segment EBITDA increased 9% to $521 million, lifting the segment margin to 22.1%. Management said it was the company’s eleventh consecutive quarter of year‑over‑year total segment EBITDA growth. Dow Jones posted revenue of $648 million, up 8%, and segment EBITDA of $191 million, up 10%, with professional information revenue up 12% and Risk & Compliance revenue up 20%.

Executives emphasized the value of proprietary content in AI training, referencing an expected payout from Anthropic tied to pirated books and existing and prospective AI licensing deals, including with OpenAI. Digital advertising at Dow Jones reached a record $87 million, up 12%, while the company continued to increase recurring revenues and expand digital subscriptions across its news brands. News Corp repurchased $172 million of shares in the quarter and said it views the stock as materially undervalued relative to net asset value.

Construction Partners reported a 44% year‑over‑year increase in first‑quarter fiscal 2026 revenue to $809.5 million and a 63% rise in adjusted EBITDA to $112.2 million, yielding a record first‑quarter adjusted EBITDA margin of 13.9%. The company ended the quarter with a project backlog of $3.09 billion and raised its full‑year outlook to revenue of $3.48–$3.56 billion and adjusted EBITDA of $534–$550 million. Management cited favorable weather, ongoing demand across its Sun Belt footprint, and contributions from recent acquisitions, including further expansion in the Houston market.

Matrix Service reported fiscal second‑quarter 2026 revenue of $210.5 million, up 12% from the prior‑year period, with all three segments contributing to growth. Consolidated gross profit rose 21% to $13.1 million and gross margin improved to 6.2%, but results were reduced by a $3.6 million charge related to commissioning items and warranty responsibilities on a specialty storage tank project. The company posted a net loss of $0.9 million, compared with a $5.5 million loss a year earlier, and adjusted EBITDA turned positive at $2.4 million.

Backlog stood at $1.1 billion, and the opportunity pipeline expanded to $7.3 billion, but quarterly awards of about $177 million produced a book‑to‑bill ratio of 0.8. Management reiterated full‑year revenue guidance of $875–$925 million and said it expects profitability in the second half of the fiscal year, while noting that uncertainty around trade policy, permitting and government funding has delayed some large project awards, likely pushing portions of the pipeline into fiscal 2027.

Powell Industries opened fiscal 2026 with first‑quarter revenue of $251 million, up 4% year over year, and net income of $41.4 million, or $3.40 per diluted share, up from $34.8 million. New orders totaled $439 million, a 63% increase, including a liquefied natural gas contract exceeding $100 million and a roughly $75 million order for electrical infrastructure at a single data center. Backlog reached a record $1.6 billion, with growing exposure to utilities and commercial and industrial customers, and management said it sees strong multi‑year demand tied to power generation, grid modernization and data center build‑outs.

Strategy, formerly known as MicroStrategy, reported a fourth‑quarter 2025 operating loss of $17.4 billion and a net loss of $12.6 billion, outcomes it attributed primarily to marking its Bitcoin holdings to fair value. At year‑end, the company held 713,502 Bitcoin, which it said represented about 3.4% of the eventual total supply, and the market value of its digital assets was $58.9 billion, up from $41.8 billion at the end of 2024. During 2025 Strategy added roughly 225,000 Bitcoin, including 32,470 in the fourth quarter, and said it delivered a Bitcoin Yield of 22.8%, within its internal target range.

The company leaned on preferred equity issuance in 2025, raising $6.9 billion across five IPOs and subsequent at‑the‑market activity and launching a $2.5 billion “Stretch” digital credit instrument with an indicated dividend rate around 11.25%. Management said it does not plan to issue additional convertible debt, intends to reduce leverage over time, and ended the year with $2.3 billion of cash, including a $2.25 billion U.S. dollar reserve that it said provides more than 2.5 years of dividend coverage. Total interest and dividend obligations stood at $888 million.

Separately, PriceSmart held its 2026 virtual annual meeting with at least 95% of outstanding common shares represented, easily exceeding quorum. Shareholders re‑elected 11 directors, approved executive compensation in a non‑binding advisory vote with at least 98% support, and ratified Ernst & Young as independent auditor for fiscal 2026 with support exceeding 99%. No additional business was brought before the meeting, and management said investors could continue to access company information through its investor relations website.