Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
On The Board. Commercial Vehicle Group has added Ari Levy of Lakeview Investment Group as an independent director. Lakeview owns approximately 8.9% of the outstanding shares of the Company. In connection with Mr. Levy’s appointment, the Board was expanded to 7 members. Mr. Levy will serve on the Board’s Nominating, Governance and Sustainability, and Audit Committees.
Ari Levy. Mr. Levy is the founder, President, and Chief Investment Officer of Lakeview, a Chicago based investment manager focused on the public markets. Mr. Levy was the President of Levy Acquisition Corp, a NASDAQ listed acquisition vehicle, and subsequently served on the Board of the resulting public company, Del Taco, until it was acquired by Jack in the Box in early 2022.
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Hans Baldau, Associate Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
FY27 Corporate Guidance. AZZ recently provided financial guidance for FY27 ending on February 28, 2027. Sales are expected to be in the range of $1.725 to $1.775 billion, adjusted EBITDA is expected to be in the range of $360.0 to $400.0 million, and adjusted diluted EPS is expected to be in the range of $6.50 to $7.00.
Updating Estimates. We have adjusted our FY27 sales, adjusted EBITDA, and adjusted EPS to $1.750 billion, $386.0 million, and $6.70, respectively, from $1.746 billion, $388.0 million, and $6.60. We have also adjusted our forward estimates through 2031, which are included in the financial model at the end of this report. Our FY27 estimates reflect modestly higher sales growth and lower interest expense of $40.0 million compared to our prior estimate of $43.4 million. Our FY26 estimates remain within the company’s corporate guidance ranges.
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
ATLANTA, GA, February 13, 2026 – GeoVax Labs, Inc. (Nasdaq: GOVX) (the “Company”), a clinical-stage biotechnology company developing immunotherapies and vaccines against cancer and infectious diseases, today announced that it has entered into definitive agreements for the purchase and sale of 432,902 shares of its common stock (or pre-funded warrants in lieu thereof) at a purchase price of $2.31 per share (or pre-funded warrant in lieu thereof) in a registered direct offering priced at-the-market under Nasdaq rules (the “Offering”). In a concurrent private placement, the Company will issue unregistered series A-1 warrants to purchase up to 432,902 shares of common stock and unregistered series A-2 warrants to purchase up to 432,902 shares of common stock. The warrants will have an exercise price of $2.31 per share and will be exercisable beginning on the effective date of shareholder approval of the issuance of the shares of common stock upon exercise of the warrants. The series A-1 warrants will expire five years after the date of shareholder approval and the series A-2 warrants will expire two years after the date of shareholder approval.
The closing of the Offering is expected to occur on or about February 17, 2026, subject to the satisfaction of customary closing conditions. The gross proceeds from the Offering are expected to be approximately $1 million, before deducting placement agent fees and other estimated offering expenses. The Company intends to use the net proceeds from the Offering to advance its product candidates, including research and development, manufacturing, clinical studies, and working capital.
H.C. Wainwright & Co. is acting as the exclusive placement agent for the Offering.
The shares (or pre-funded warrants) (but not the unregistered warrants and the shares of common stock underlying the unregistered warrants) in the registered direct offering described above are being offered by the Company pursuant to a shelf registration statement on Form S-3 (File No. 333-277585) previously filed with the Securities and Exchange Commission (the ”SEC”) and declared effective by the SEC on March 13, 2024. The registered direct offering is being made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement, relating to the registered direct offering that will be filed with the SEC. Electronic copies of the final prospectus supplement and accompanying prospectus may be obtained, when available, on the SEC’s website at http://www.sec.gov or by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, New York 10022, by phone at (212) 856-5711 or e-mail at placements@hcwco.com.
The unregistered warrants described above are being offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”), and/or Regulation D promulgated thereunder and, along with the shares of common stock underlying such unregistered warrants, have not been registered under the Securities Act, or applicable state securities laws. Accordingly, the unregistered warrants and underlying shares of common stock may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws.
The Company also has agreed to amend certain existing warrants to purchase up to an aggregate of 236,000 shares of the Company’s common stock that were previously issued to the investors in July 2025, with an exercise price of $4.35 per share, respectively, effective upon the closing of the offering, such that the amended warrants will have a reduced exercise price of $2.31 per share and will be exercisable beginning on the effective date of shareholder approval of the issuance of the shares upon exercise of the warrants.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
About GeoVax
GeoVax Labs, Inc. is a clinical-stage biotechnology company developing novel vaccines against infectious diseases and therapies for solid tumor cancers. The Company’s lead clinical program is GEO-CM04S1, a next-generation COVID-19 vaccine currently in three Phase 2 clinical trials, being evaluated as (1) a primary vaccine for immunocompromised patients such as those suffering from hematologic cancers and other patient populations for whom the current authorized COVID-19 vaccines are insufficient, (2) a booster vaccine in patients with chronic lymphocytic leukemia (CLL) and (3) a more robust, durable COVID-19 booster among healthy patients who previously received the mRNA vaccines. In oncology the lead clinical program is evaluating a novel oncolytic solid tumor gene-directed therapy, Gedeptin®, having recently completed a multicenter Phase 1/2 clinical trial for advanced head and neck cancers. GeoVax is also developing a vaccine targeting Mpox and smallpox and, based on recent EMA regulatory guidance, anticipates progressing directly to a Phase 3 clinical evaluation, omitting Phase 1 and Phase 2 trials. GeoVax has a strong IP portfolio in support of its technologies and product candidates, holding worldwide rights for its technologies and products. For more information about the current status of our clinical trials and other updates, visit our website: www.geovax.com.
Forward-Looking Statements
This release contains forward-looking statements regarding GeoVax’s business plans, including, but not limited to, statements regarding the completion of the offering, the satisfaction of customary closing conditions related to the offering, the receipt of shareholder approval and the anticipated use of proceeds from the offering. The words “believe,” “look forward to,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “will,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Actual results may differ materially from those included in these statements due to a variety of factors, including whether: GeoVax is able to obtain acceptable results from ongoing or future clinical trials of its investigational products, GeoVax’s immuno-oncology products and preventative vaccines can provoke the desired responses, and those products or vaccines can be used effectively, GeoVax’s viral vector technology adequately amplifies immune responses to cancer antigens, GeoVax can develop and manufacture its immuno-oncology products and preventative vaccines with the desired characteristics in a timely manner, GeoVax’s immuno-oncology products and preventative vaccines will be safe for human use, GeoVax’s vaccines will effectively prevent targeted infections in humans, GeoVax’s immuno-oncology products and preventative vaccines will receive regulatory approvals necessary to be licensed and marketed, GeoVax raises required capital to complete development, there is development of competitive products that may be more effective or easier to use than GeoVax’s products, GeoVax will be able to enter into favorable manufacturing and distribution agreements, and other factors, over which GeoVax has no control.
Further information on our risk factors is contained in our periodic reports on Form 10-Q and Form 10-K that we have filed and will file with the SEC. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
Transaction Closing Date Set for Next Tuesday, February 17
FORT WORTH, Texas, Feb. 13, 2026 (GLOBE NEWSWIRE) — Sports Entertainment Gaming Global Corporation (NASDAQ: SEGG, LTRYW) (the “Company” or “SEGG Media”), the global sports, entertainment, and gaming group, today announced that it has agreed to binding terms to acquire at least a majority interest in Veloce Media Group (“Veloce”), one of the fastest-growing and market leading platforms operating at the intersection of sport, gaming and digital media.
The completion date for consummating the acquisition is set for Tuesday, February 17, 2026, which will result in SEGG Media acquiring a controlling interest of Veloce, enabling consolidation for accounting and reporting purposes and direct control. The transaction values Veloce at approximately $61 million (£45 million) and is projected to contribute in excess of $20 million in additional annual revenue which will begin to be reported in the first quarter of 2026. SEGG Media’s management views Veloce as a foundational international platform that aligns with the Company’s strategy of acquiring cash-generative, media-driven sports assets capable of scaling across sponsorship, content, and commerce.
The acquisition of Veloce will be completed through a blend of cash consideration and SEGG Media common shares priced at $10 per share. The Veloce acquisition is one that the Company has been hyper-focused on for months and completing the transaction is a paradigm shift for SEGG Media and its shareholders. The targeted acquisition of Veloce by SEGG Media signals the Company’s rapid evolution into a diversified global sports and media group.
Veloce’s recent acquisition of Quadrant, co-founded by the current Formula 1 Champion Lando Norris, is a significant and rapidly growing gaming and lifestyle company. With a portfolio of blue-chip commercial partners and direct revenue generation in apparel and product sales the Quadrant business will continue to play a key role in the revenue growth of Veloce and SEGG Media.
Darryl Eales, Veloce Director and investor and formerly CEO of Lloyd’s Development Capital, commented:“I’m truly excited by the potential of the Veloce and SEGG partnership. High-quality, driven, and aligned management teams are crucial for the delivery of strong shareholder value creation. The combined leadership creates a powerful platform for significant and rapid growth, underpinned by both SEGG’s exciting brands and well-founded sports and entertainment strategy and Veloce’s multi-stream revenue platform and strong financial performance.
“Both the Veloce team and the SEGG Board have remained relentless in executing the transaction – even as SEGG completed the final stages of its turnaround – driven by a combined belief in the significant scale of the opportunity that exists post-completion. With the combined value of Veloce, SEGG, and additional pipeline acquisitions, receiving consideration in $10 SEGG stock represents significant upside for Veloce shareholders.”
Daniel Bailey, CEO of Veloce Media Group,said: “This acquisition represents a defining moment not only for Veloce, but for SEGG Media as a group. From the outset, it was clear that our businesses share a common vision for building a global, digitally led sports media platform with ambition and long-term commercial strength.
“The combination of SEGG Media’s access to public markets and strategic focus with Veloce’s brands, partnerships and proven revenue model creates a powerful foundation for accelerated expansion.”
Veloce’s ecosystem spans championship-winning esports teams, athlete-led content platforms, sustainable motorsport series, and a commercial portfolio supported by global brands including McLaren, Revolut, VISA, LEGO, Microsoft, Hilton, E.ON, and Thrustmaster.
Driving over 500 million views per month, Veloce brings with it rapidly growing and diversified revenue streams across digital content, esports, motorsport and brand partnerships, reporting $17.5 million (£12.8 million) in revenue for its latest reported financial period.
Since the start of 2026, SEGG Media’s strategy has been firmly focused on executing fundamental acquisitions designed to accelerate its growth by establishing a scalable and profitable revenue-generating platform. The integration of Veloce’s business and revenue positions SEGG Media to capitalize on accelerating global demand across sport, media, gaming and digital entertainment, with a clear focus on creating genuine value to the Company driven by consistently improving return on invested capital (ROIC) and sustaining high-quality revenue growth with higher profit margins.
Robert Stubblefield, CFO and Interim CEO and President of SEGG Media, said:“The acquisition of Veloce Media Group is a pivotal acquisition for the Company and a clear validation of the strategic direction we set at the start of 2026. Veloce delivers scale, rapidly growing revenues and high-quality commercial partnerships that materially strengthen our profile.
“This acquisition of Veloce and its subsidiary Quadrant springboards SEGG Media to immediately unlocking significant revenue for the Company, which creates long-term shareholder value especially as we integrate a best-in-class digital sports and media platform into the Company. Simply put, it’s a gamechanger!”
Closing is subject to final legal review, completion of definitive documentation, and customary closing conditions.
About SEGG Media Corporation SEGG Media (Nasdaq: SEGG, LTRYW) is a global sports, entertainment and gaming group operating a portfolio of digital assets including Sports.com, Concerts.com and Lottery.com. Focused on immersive fan engagement, ethical gaming and AI-driven live experiences, SEGG Media is redefining how global audiences interact with the content they love.
Important Notice Regarding Forward-Looking Statements
This press release contains statements that constitute “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, as amended. All statements, other than statements of present or historical fact included in this press release, regarding the Company’s strategy, future operations, prospects, plans and objectives of management, are forward-looking statements. When used in this Form 8-K, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” “initiatives,” “continue,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. The forward-looking statements speak only as of the date of this press release or as of the date they are made. The Company cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of the Company. In addition, the Company cautions you that the forward-looking statements contained in this press release are subject to risks and uncertainties, including but not limited to, any future findings from ongoing review of the Company’s internal accounting controls, additional examination of the preliminary conclusions of such review, the Company’s ability to secure additional capital resources, the Company’s ability to continue as a going concern, the Company’s ability to respond in a timely and satisfactory matter to the inquiries by Nasdaq, the Company’s ability to regain compliance with the Bid Price Requirement, the Company’s ability to regain compliance with Nasdaq Listing Rules, the Company’s ability to become current with its SEC reports, and those additional risks and uncertainties discussed under the heading “Risk Factors” in the Form 10-K/A filed by the Company with the SEC on April 22, 2025, and the other documents filed, or to be filed, by the Company with the SEC. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in the reports that the Company has filed and will file from time to time with the SEC. These SEC filings are available publicly on the SEC’s website at www.sec.gov. Should one or more of the risks or uncertainties described in this press release materialize or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Except as otherwise required by applicable law, the Company disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release.
Alabama becomes the first Conduent-supported state – and only the second state in the nation – to roll out chip-enabled EBT cards statewide
Chips allow beneficiaries to insert their cards into point-of-sale terminals, significantly enhancing the security of SNAP and TANF accounts
FLORHAM PARK, N.J. — Conduent Incorporated (Nasdaq: CNDT), a global technology-driven business solutions and services company, today announced its collaboration with the Alabama Department of Human Resources (DHR) to introduce chip-enabled EBT cards designed to help prevent fraud. The new cards, now mailed to EBT cardholders across the state, are expected to significantly enhance account security for beneficiaries, including those in the Supplemental Nutrition Assistance Program (SNAP) and the Temporary Assistance for Needy Families (TANF) program.
Across the country, states have reported a sharp rise in fraud attempts targeting EBT cards, which traditionally rely on magnetic stripes and are vulnerable to skimming – where criminals install devices on point-of-sale terminals to steal card information. With chip technology, Alabama cardholders can now insert their cards into the terminals rather than swiping them, adding a critical layer of protection.
Following a pilot program launched in December, Alabama is the first Conduent-supported state – and only the second state nationwide – to introduce EBT cards to all cardholders. Additional states are preparing similar rollouts.
“I am so pleased to finally bring this instrumental change to our EBT cardholders statewide,” said Alabama DHR Commissioner Nancy Buckner. “After a successful pilot program, we have shown that these new cards are easy to use and offer much better protection for the benefits. I am pleased that with this chip technology upgrade, our clients can have more confidence that their benefits will be there when they purchase groceries. This is not the end; we will continue to work and develop new and innovative ways to better protect our clients and their benefits.”
“We are honored to help Alabama DHR lead the way in giving their beneficiaries this critically important tool to protect their accounts and funds,” said Anna Sever, President, Government Solutions at Conduent. “Transitioning to chip technology is a proven fraud-prevention strategy. Chip cards are widely used across the country for other types of accounts, and EBT payments deserve the same level of security.”
SNAP and TANF recipients in Alabama and several other states can also use Conduent’s ConnectEBT mobile app and cardholder portal, which allow beneficiaries to lock their accounts to block all purchases, providing greater control and helping prevent unauthorized transactions.
In addition, with Conduent’s support, Alabama DHR recently implemented a system enhancement that automatically defaults all EBT cards to block out-of-state and online transactions. Cardholders who wish to make these types of purchases can easily unlock their card through the ConnectEBT app or portal.
The technologies are part of Conduent’s VeriSight Anti-Fraud Suite, a set of innovative solutions that help agencies address fraud risks in public benefit programs. The suite includes adaptive fraud detection tools for EBT customer service centers that can identify and block suspicious activity, such as unusual phone numbers or high call volumes.
Conduent is a national leader in government payment disbursements, and it currently supports electronic payments for public programs in 37 states. Conduent also supports U.S. government agencies with end-to-end solutions for healthcare claims processing, eligibility and enrollment, and child support administration.
About Conduent
Conduent delivers digital business solutions and services spanning the commercial, government and transportation spectrum – creating valuable outcomes for its clients and the millions of people who count on them. The Company leverages cloud computing, artificial intelligence, machine learning, automation and advanced analytics to deliver mission-critical solutions. Through a dedicated global team of approximately 51,000 associates, process expertise and advanced technologies, Conduent’s solutions and services digitally transform its clients’ operations to enhance customer experiences, improve performance, increase efficiencies and reduce costs. Conduent adds momentum to its clients’ missions in many ways including disbursing approximately $80 billion in government payments annually, enabling approximately 2.0 billion customer service interactions annually, empowering millions of employees through HR services every year and processing over 14 million tolling transactions every day. Learn more at www.conduent.com.
Conduent is a trademark of Conduent Incorporated in the United States and/or other countries. Other names may be trademarks of their respective owners.
SAN DIEGO, Feb. 13, 2026 (GLOBE NEWSWIRE) — Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), a Technology Company in the Defense, National Security and Global Markets, announced today that it will publish financial results for the fourth quarter and fiscal year 2025 after the close of market on Monday, February 23rd. Management will discuss the Company’s operations and financial results in a conference call beginning at 2:00 p.m. Pacific (5:00 p.m. Eastern).
The call will be available at www.kratosdefense.com. Participants may register for the call using this Online Form. Upon registration, all telephone participants will receive the dial-in number along with a unique PIN that can be used to access the call. For those who cannot access the live broadcast, a replay will be available on Kratos’ website.
About Kratos Defense & Security Solutions Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS) is a technology, products, system and software company addressing the defense, national security, and commercial markets. Kratos makes true internally funded research, development, capital and other investments, to rapidly develop, produce and field solutions that address our customers’ mission critical needs and requirements. At Kratos, affordability is a technology, and we seek to utilize proven, leading edge approaches and technology, not unproven bleeding edge approaches or technology, with Kratos’ approach designed to reduce cost, schedule and risk, enabling us to be first to market with cost effective solutions. We believe that Kratos is known as an innovative disruptive change agent in the industry, a company that is an expert in designing products and systems up front for successful rapid, large quantity, low cost future manufacturing which is a value add competitive differentiator for our large traditional prime system integrator partners and also to our government and commercial customers. Kratos intends to pursue program and contract opportunities as the prime or lead contractor when we believe that our probability of win (PWin) is high and any investment required by Kratos is within our capital resource comfort level. We intend to partner and team with a large, traditional system integrator when our assessment of PWin is greater or required investment is beyond Kratos’ comfort level. Kratos’ primary business areas include virtualized ground systems for satellites and space vehicles including software for command & control (C2) and telemetry, tracking and control (TT&C), jet powered unmanned aerial drone systems, hypersonic vehicles and rocket systems, propulsion systems for drones, missiles, loitering munitions, supersonic systems, space craft and launch systems, C5ISR and microwave electronic products for missile, radar, missile defense, space, satellite, counter UAS, directed energy, communication and other systems, and virtual & augmented reality training systems for the warfighter. For more information, visit www.KratosDefense.com
In one of the most significant transactions in the American homebuilding sector this year, Tokyo-based Sumitomo Forestry has announced its acquisition of Tri Pointe Homes for $4.5 billion, marking a major expansion of Japanese investment in the U.S. residential real estate market.
The all-cash deal values Tri Pointe Homes at $47 per share, representing a substantial 29% premium over the company’s February 12 closing price and a remarkable 42% premium to its 90-day volume weighted average price. The transaction even surpasses Tri Pointe’s all-time high closing stock price, delivering exceptional value to shareholders while positioning both companies for accelerated growth in America’s competitive housing market.
Founded in 2009, Tri Pointe Homes has established itself as one of the nation’s premier homebuilders with operations spanning 13 states and the District of Columbia. The company delivered over 6,400 homes in 2024 alone and has completed more than 58,000 housing units throughout its 17-year history. With more than 150 active communities across the Western, Southwestern, and Southeastern United States, Tri Pointe brings substantial geographic diversification to Sumitomo Forestry’s portfolio.
For Sumitomo Forestry, this acquisition represents a critical milestone in achieving its Mission TREEING 2030 vision, which targets annual delivery of 23,000 homes in the United States by decade’s end. The Japanese company has maintained a strategic presence in American homebuilding for over two decades, consistently investing in locally led builders while emphasizing sustainable growth and quality construction.
The combination comes at a crucial time for the American housing market, which continues to grapple with significant supply constraints and affordability challenges. Both companies emphasize their shared commitment to expanding the availability of affordable, high-quality housing options for American families. The enhanced financial capacity resulting from this merger is expected to accelerate home production and broaden the range of housing solutions available to buyers across multiple price points.
In a move that reflects Sumitomo Forestry’s proven approach to acquisitions, Tri Pointe Homes will continue operating as a distinct brand under its existing management team. CEO Doug Bauer and President Tom Mitchell will remain at the helm, maintaining the company’s headquarters in Irvine, California, along with its 17 regional divisions and financial services operations.
This strategy aligns with Sumitomo Forestry’s established track record of respecting local autonomy while providing the capital, resources, and expertise needed to support long-term growth. The approach has proven successful across the company’s portfolio of American homebuilders, each maintaining their unique market positioning while benefiting from association with a well-capitalized international parent company.
The transaction, which has received unanimous approval from both boards of directors, is expected to close in the second quarter of 2026, pending Tri Pointe stockholder approval and standard regulatory clearances. Upon completion, Tri Pointe Homes stock will be delisted from the New York Stock Exchange, marking the end of its run as a publicly traded company and the beginning of a new chapter within Sumitomo Forestry’s expanding American operations.
Snail is a leading, global independent developer and publisher of interactive digital entertainment for consumers around the world, with a premier portfolio of premium games designed for use on a variety of platforms, including consoles, PCs and mobile devices.
Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Noble Virtual Conference. On February 4th, Heidy Chow, CFO, and Peter Lin, Senior Manager FP&A, presented at the Noble Virtual Conference to the investment community. The presentation highlighted strong engagement on its core franchise and recent releases, a busy 2026 release roadmap, and the advancement of its digital assets strategy. The full presentation is available here.
Strong ARK Engagement. The ARK franchise remains a key driver of engagement and monetization for the company, generating nearly $1 billion in revenue, more than 100 million installs, and 4.2 billion gameplay hours since its release. Management noted that the ARK franchise benefits from a highly active core audience, with 42% of players averaging 380 hours of total gameplay. Furthermore, management noted a 55% paid downloadable content (DLC) conversion rate for ARK, with new content releases driving spikes in player activity.
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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Softer than expected revenue and adj. EBITDA. Fiscal Q2 revenue of $369.0 million was below our $402.1 million estimate and down from $394.0 million a year earlier. The largest revenue variance appeared to be attributable to the lack of arcade inventory in its gaming division due to the bankruptcy of one of its vendors. Adj. EBITDA of $18.1 million was below our $25.3 million estimate, as a result of higher than expected costs in its licensing business.
Maintains strong margin dynamics. The company maintained strong gross margins at 12.8%, a 210 basis point improvement year over year, but down from our 16.2% estimate. The gross margin was surprisingly solid when considering the significant revenue shortfall. Margins benefited from favorable product mix, structural improvement and cost discipline. In addition, adj. EBITDA margins improved year over year as well (5.0% vs 4.1%).
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
American consumers received welcome news to start 2026 as inflation slowed more than anticipated in January, offering fresh optimism about the economy’s trajectory and easing concerns about rising prices that have plagued households for years.
The Bureau of Labor Statistics reported Friday that the Consumer Price Index rose just 0.2% in January from the previous month, with annual inflation declining to 2.4% from December’s 2.7%. The figures came in below economist expectations of a 0.3% monthly increase and 2.5% annual rise, marking encouraging progress in the ongoing battle against elevated prices.
Core Inflation Hits Multi-Year Low
Perhaps most significantly, core inflation—which strips out volatile food and energy costs to reveal underlying price trends—registered its slowest annual increase since March 2021. Core prices climbed 2.5% over the past year while rising 0.3% month-over-month, both meeting expectations but signaling sustained moderation in inflationary pressures.
The positive inflation data represented the second encouraging economic report this week. Wednesday’s employment figures showed unemployment ticking downward while payrolls expanded at double the anticipated pace, suggesting the economy remains resilient even as price pressures ease.
Economic analysts noted that the softer-than-expected reading was particularly noteworthy given historical patterns. Recent years have typically seen inflation spike unexpectedly in January due to residual seasonal factors and delayed price adjustments stemming from pandemic-era disruptions. The absence of these typical January surprises suggests that tariff-induced price increases on goods may be largely complete, offering hope for more stable pricing ahead.
Despite the overall positive trends, certain categories continue challenging household budgets. Food prices climbed 2.9% annually, with cereals and bakery products jumping 1.2% in January alone. Coffee and beef prices remained especially elevated throughout the past year, though beef and veal saw a modest 0.4% monthly decline. Egg prices, another closely watched staple, dropped 7% after surging in recent months.
Energy costs provided significant relief, falling 1.5% in January as fuel oil plunged 5.7% and gasoline decreased 3.2%. The national average for regular gasoline now sits at $2.94, down from $3.16 a year ago, according to AAA data.
Housing costs, the largest component of most household budgets, rose 0.2% monthly and 3% annually. While still elevated, the shelter index increased at half December’s pace, potentially signaling improvement ahead for renters and homeowners alike.
Analysts had closely watched January’s data for signs of tariff-related price increases following President Trump’s sweeping levies implemented last year. While some tariff-sensitive categories showed increases—apparel rose 0.3%, video and audio products jumped 2.2%, and computers climbed 3.1%—the overall impact appeared muted.
Economic forecasters had anticipated that core goods prices would accelerate from December levels due to increased tariff pass-through effects and typical seasonal patterns that push January inflation higher. However, the fact that core goods prices remained unchanged in January suggests that tariffs and unseasonably large price hikes were not significant drivers of the monthly inflation reading.
One notable exception: airline fares surged 6.5% monthly, meaning travelers may want to consider road trips over flights in the near term. Used car prices, meanwhile, slid 1.8%, offering potential savings for vehicle shoppers.
The cooler-than-expected inflation data strengthens the case for continued economic stability as 2026 unfolds, though Federal Reserve policymakers will carefully monitor upcoming reports before making decisions about interest rates.
Gold tumbled sharply Thursday in a sudden wave of selling that swept across financial markets, as traders liquidated metal positions to cover mounting losses in equities. The sharp decline underscores how even traditional safe-haven assets can be caught in broader risk-off moves when volatility spikes.
Bullion fell as much as 4.1% during the session before trimming some losses, while silver plunged as much as 11% in one of its steepest drops in recent memory. Copper also slid, declining nearly 3% on the London Metal Exchange. The move came amid renewed pressure on U.S. technology stocks, where concerns resurfaced about whether massive artificial intelligence investments will generate the expected returns.
As equity markets weakened, some investors were forced to raise cash quickly. In moments of intense stress, even defensive assets such as gold can be sold to meet margin calls or offset losses elsewhere. Rather than serving purely as a haven, gold briefly became a source of liquidity.
The speed of the decline suggested systematic and momentum-driven selling. Analysts noted that algorithmic strategies and commodity trading advisors likely accelerated the drop as key technical levels gave way. Such strategies often amplify moves in either direction, particularly when market sentiment shifts abruptly.
Part of Thursday’s pressure also stemmed from profit-taking. Gold and silver have been on a powerful rally since 2024, with momentum-driven buying pushing both metals to repeated record highs. That advance stalled abruptly late last month, when gold posted its largest one-day drop in more than a decade and silver recorded a historic plunge. Since then, both metals have traded in a volatile but relatively tight range, lacking fresh catalysts to sustain the upward momentum.
The latest decline does not necessarily signal the beginning of a sustained downtrend. Instead, it highlights heightened volatility in a market where positioning had become crowded. When sentiment-driven trades unwind, price swings can be exaggerated.
Despite the recent rout, many major banks remain bullish on gold’s longer-term outlook. Analysts continue to point to structural drivers that supported the earlier rally, including persistent geopolitical tensions, concerns about central bank independence, and a broader shift by some investors away from traditional assets such as currencies and sovereign bonds. Several institutions maintain ambitious year-end targets for bullion, arguing that underlying demand remains intact.
Silver faced additional pressure from options-related activity tied to the iShares Silver Trust, the world’s largest silver exchange-traded fund. Investors who had previously accumulated bullish positions near recent highs were seen selling contracts, potentially intensifying downside momentum.
Market participants are now turning their attention to upcoming U.S. economic data, including core consumer price figures, for signals about the Federal Reserve’s interest-rate trajectory. Precious metals typically benefit from lower borrowing costs, as they do not offer interest payments and tend to compete with yield-bearing assets.
By early afternoon in New York, spot gold was down nearly 3% at $4,938.38 an ounce. Silver had dropped more than 9% to $76.34, while platinum and palladium also declined. The Bloomberg Dollar Spot Index edged slightly higher.
The episode serves as a reminder that in periods of extreme market stress, no asset class is immune from volatility. Even gold, long regarded as a financial safe haven, can fall sharply when liquidity becomes the priority.
CHICAGO, Feb. 12, 2026 /PRNewswire/ — Titan International, Inc. announces that Kim Marvin has stepped down from its Board of Directors.
Mr. Marvin stepped down from the Board of Directors of Titan International, Inc. after approximately 24 months of service due to time constraints and other professional commitments. The company currently has no intention of replacing this board seat.
Paul Reitz, President and CEO of Titan International stated “I want to thank Kim for his contributions over the past two years. Kim provided valuable operational continuity following the Carlstar acquisition and Titan benefited from his combination of engineering expertise, financial and transactional experience. We want to wish Kim all the best in his future endeavors.”
About Titan: Titan International, Inc. (NYSE: TWI) is a leading global manufacturer of off-highway wheels, tires, assemblies, and undercarriage products. Headquartered in West Chicago, Illinois, the company globally produces a broad range of products to meet the specifications of original equipment manufacturers (OEMs) and aftermarket customers in the agricultural, earthmoving/construction, and consumer markets. For more information, visit www.titan-intl.com.
Adjusted EBITDA up 15% to $18.5M; Gross Margin expands 210 basis points to 12.8%
Net Income increased to $9.4M, or $0.18 per share, compared to $7.1M, or $0.14 per share, in Q2 FY25
Strengthened balance sheet, ending quarter with $74.1M in working capital
PLANTATION, Fla., Feb. 12, 2026 (GLOBE NEWSWIRE) — Alliance Entertainment Holding Corporation (Nasdaq: AENT), a premier distributor, logistics provider, and omnichannel fulfillment partner to the entertainment and pop culture collectibles industry, supplying more than 340,000 unique SKUs across music, video, video games, licensed merchandise, and exclusive collectibles to over 35,000 retail and e-commerce storefronts, reported its financial and operational results for its fiscal second quarter ended December 31, 2025.
Second Quarter FY 2026 Highlights
Sustained Profitability and Margin Execution: Net income increased year-over-year to approximately $9.4 million, or $0.18 per share, up from $7.1 million, or $0.14 per share in Q2 FY25, reflecting continued execution against the Company’s established profitability baseline. Adjusted EBITDA was approximately $18.5 million, an increase of $2.4 million year-over-year. Adjusted EBITDA margin was approximately 5%, compared to 4.1% in Q2 FY25, a 200 basis point improvement over the margin profile achieved in the trailing 12-months ended September 30, 2025. Gross margin expanded 210 basis points year-over-year to 12.8%, driven by favorable mix and higher-value products. A reconciliation of non-GAAP financial measures to the most comparable GAAP measure is provided at the end of this release.
Launch of Authentication and Digital Product Identity Platform: On December 31, 2025, the Company completed the acquisition of Endstate, establishing Endstate Authentic, a dedicated NFC-enabled authentication and digital product identity platform. The platform expands Alliance’s role beyond physical product distribution by enabling authenticated ownership, provenance, and verified resale across premium physical goods, supporting the full lifecycle of collectible products from initial sale through secondary markets. Designed as a scalable, enterprise-grade platform, Endstate Authentic is intended to support both Alliance’s internal initiatives and third-party brands, licensors, and ecosystem partners, adding a technology-enabled layer that enhances trust, differentiation, and long-term value creation across the collectibles and premium goods market. Subsequent to quarter end, Alliance launched Alliance Authentic™, a premium vinyl collectibles platform that represents the first commercial application of these capabilities within the Company’s portfolio.
Strength in Physical Media: Physical movie revenue increased 33% year-over-year to $114 million, benefiting from sustained demand for premium formats such as 4K Ultra HD and collectible SteelBook editions, as well as the Company’s exclusive distribution partnerships. Alliance was named the exclusive physical media distribution partner for Amazon MGM Studios in North America, effective January 1, 2026, further strengthening its leadership in premium home entertainment and collector-focused releases. Vinyl record sales increased 3% year-over-year, supported by continued consumer demand for collectible and limited-edition releases. Compact disc (CD) sales increased approximately 5% year-over-year, supported by higher unit volumes and the Company’s first full quarter as the exclusive distributor for Virgin Music Group through its AMPED Distribution division.
Collectibles Growth and Portfolio Expansion: Collectibles revenue increased 31% year-over-year, driven by higher average selling prices and a continued shift toward premium, licensed products. Results benefited from expanded sourcing activity, new vendor additions, and the continued integration of the Company’s owned brand, Handmade by Robots™.
Operational Discipline and Infrastructure Investment: Operating income increased year-over-year to $17.3 million, up from $14.8 million in Q2 FY25, reflecting continued operating leverage and disciplined cost management. Total operating expenses rose modestly, driven by targeted investments in technology, personnel, and infrastructure to support exclusive content partnerships and long-term scalability. Distribution and fulfillment costs were 3.3% of net revenue, consistent with 3.2% in Q2 FY25, supported by warehouse automation initiatives and ongoing efficiencies from prior facility consolidation.
Balance Sheet and Liquidity Strength: The Company ended the quarter with working capital of approximately $74.1 million, reflecting disciplined management of inventory and payables. During the quarter, the Company refinanced its asset-based lending agreement with a new $120 million senior secured credit facility from Bank of America, enhancing liquidity and financial flexibility, with availability at quarter end of $35 million.
“Our second quarter results reflect continued execution against the profitability baseline we established last year,” said Jeff Walker, Chief Executive Officer of Alliance Entertainment. “For the six months ended December 31, 2025, earnings per share increased to $0.28, up from $0.15 in the prior-year period, demonstrating the earnings leverage created by our structurally improved margin profile.
“Physical media continues to perform as a collectible category, supported by exclusive partnerships and strong consumer demand for premium formats,” Walker added. “With the launch of Alliance Authentic™, we’re extending that strategy into premium vinyl collectibles by introducing The Ultimate Vinyl Collectible™, enabling fans and collectors to Own a Piece of Vinyl History™ through authentic, certified, and individually numbered releases sourced directly from rights holders. This initiative builds on our strengths in physical media and reinforces our focus on high-value, enthusiast-driven products. With a structurally stronger margin profile and a growing pipeline of exclusive content, we believe Alliance is well positioned to deliver durable profitability and long-term value for our shareholders.”
Amanda Gnecco, Chief Financial Officer of Alliance Entertainment, said, “Net income in the second quarter increased 33% year-over-year to $9.4 million, and adjusted EBITDA margin improved 92 basis points year-over-year to 5.0%, reflecting the durability of our cost structure and the benefits of our improving product mix.
“During the quarter, we strengthened our balance sheet by refinancing our credit facility with Bank of America, reducing borrowing costs by up to 250 basis points and extending the maturity to five years. We ended the quarter with just over $74 million in working capital and enhanced liquidity, providing greater financial flexibility to support premium inventory, exclusive partnerships, and strategic initiatives while maintaining disciplined capital management,” continued Gnecco.
“As we look ahead, we’re building on a much stronger foundation,” Walker continued. “The acquisition of Endstate and the launch of Endstate Authentic mark an important step in expanding Alliance beyond distribution into authenticated collectibles, digital product identity, and recurring platform-driven revenue. This technology allows us to extend the value of physical products across their entire lifecycle-from initial sale through authenticated resale-while strengthening trust, provenance, and margins across our ecosystem. With the launch of Alliance Authentic™, we are also creating new opportunities in the collectible vinyl market by applying authentication, scarcity, and provenance to products we already source and distribute at scale.
“Separately, our new exclusive partnership with Amazon MGM Studios strengthens our leadership in premium physical home entertainment,” Walker added. “By combining our scale, operational execution, and exclusive studio relationships, we continue to elevate physical movies as collectible formats for fans and enthusiasts. Together, these initiatives reflect a disciplined approach to growth that leverages our scale, exclusivity, and financial flexibility to create long-term shareholder value.”
Second Quarter FY 2026 Financial Results
Net revenues for the fiscal second quarter ended December 31, 2025, were $369 million, compared to $394 million in the same period of fiscal 2025.
Gross profit for the fiscal second quarter ended December 31, 2025, was $47.1 million, compared to $42.3 million in the same period of fiscal 2025.
Gross margin for the fiscal second quarter ended December 31, 2025, was 12.8%, up 210 basis points from 10.7% in the same period of fiscal 2025.
Net income for the fiscal second quarter ended December 31, 2025, was $9.4 million, or $0.18 per diluted share, compared to net income of $7.1 million, or $0.14 per diluted share for the same period of fiscal 2025.
Adjusted EBITDA for the fiscal second quarter ended December 31, 2025, was $18.5 million, compared to Adjusted EBITDA of $16.1 million for the same period of fiscal 2025.
Six-Months FY 2026 Financial Results
Net revenues for the six months ended December 31, 2025, were $623 million, compared to $623 million in the same period of fiscal 2025.
Gross profit for the six months ended December 31, 2025, was $84.3 million, compared to $67.8 million in the same period of fiscal 2025.
Gross margin for the six months ended December 31, 2025, was 13.5%, up 260 basis points from 10.9% in the same period of fiscal 2025.
Net income for the six months ended December 31, 2025, was $14.3 million, or $0.28 per diluted share, compared to net income of $7.5 million, or $0.15 per diluted share for the same period of fiscal 2025.
Adjusted EBITDA for the six months ended December 31, 2025, was $30.7 million, compared to Adjusted EBITDA of $19.5 million for the same period of fiscal 2025.
Conference Call
Alliance Entertainment Chief Executive Officer Jeff Walker, Chief Financial Officer Amanda Gnecco, and Executive Chairman Bruce Ogilvie will host the conference call, which will be followed by a question-and-answer session. A presentation will accompany the call and can be viewed during the webcast or accessed via the investor relations section of the Company’s website here.
To access the call, please use the following information:
Date:
Thursday, February 12, 2026
Time:
4:30 p.m. Eastern Time, 1:30 p.m. Pacific Time
Toll-free dial-in number:
1-877-407-0784
International dial-in number:
1-201-689-8560
Conference ID:
13758224
Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact RedChip Companies at 1-407-644-4256.
A telephone replay of the call will be available approximately three hours after the call concludes and can be accessed through March 12, 2026, using the following information:
Toll-free replay number:
1-844-512-2921
International replay number:
1-412-317-6671
Replay ID:
13758224
About Alliance Entertainment
Alliance Entertainment (NASDAQ: AENT) is a premier distributor and fulfillment partner for the entertainment and pop culture collectibles industry. With more than 340,000 unique in-stock SKUs – including over 57,300 exclusive titles across compact discs, vinyl LPs, DVDs, Blu-rays, and video games – Alliance offers the largest selection of physical media in the market. Our vast catalog also includes licensed merchandise, toys, retro gaming products, and collectibles, serving over 35,000 retail locations and powering e-commerce fulfillment for leading retailers. Alliance also owns and operates proprietary collectibles brands, including Handmade by Robots™, a stylized vinyl figure line featuring licensed characters from leading entertainment franchises, and Alliance Authentic™, a premium platform for authentic, certified, and individually numbered entertainment collectibles. In addition, Alliance operates Endstate Authentic, a dedicated NFC-enabled authentication and digital product identity platform supporting authenticated collectibles, resale, and brand protection. Leveraging decades of operational expertise, exclusive sourcing relationships, and a capital-light, scalable infrastructure, Alliance connects fans and collectors to the products, franchises, and experiences they value across formats and generations. For more information, visit www.aent.com.
Forward Looking Statements
Certain statements included in this Press Release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of other financial and performance metrics and projections of market opportunity. These statements are based on various assumptions, whether identified in this Press Release, and on the current expectations of Alliance’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by an investor as, a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Alliance. These forward-looking statements are subject to a number of risks and uncertainties, including risks relating to the anticipated growth rates and market opportunities; changes in applicable laws or regulations; the ability of Alliance to execute its business model, including market acceptance of its systems and related services; Alliance’s reliance on a concentration of suppliers for its products and services; increases in Alliance’s costs, disruption of supply, or shortage of products and materials; Alliance’s dependence on a concentration of customers, and failure to add new customers or expand sales to Alliance’s existing customers; increased Alliance inventory and risk of obsolescence; Alliance’s significant amount of indebtedness; our ability to refinance our existing indebtedness; our ability to continue as a going concern absent access to sources of liquidity; risks that a breach of the revolving credit facility could result in the lender declaring a default and that the full outstanding amount under the revolving credit facility could be immediately due in full, which would have severe adverse consequences for the Company; known or future litigation and regulatory enforcement risks, including the diversion of time and attention and the additional costs and demands on Alliance’s resources; Alliance’s business being adversely affected by increased inflation, uncertainty regarding tariffs, higher interest rates and other adverse economic, business, and/or competitive factors; geopolitical risk and changes in applicable laws or regulations; as well as our financial condition and results of operations; substantial regulations, which are evolving, and unfavorable changes or failure by Alliance to comply with these regulations; product liability claims, which could harm Alliance’s financial condition and liquidity if Alliance is not able to successfully defend or insure against such claims; availability of additional capital to support business growth; and the inability of Alliance to develop and maintain effective internal controls.
For investor inquiries, please contact:
Dave Gentry RedChip Companies, Inc. 1-800-REDCHIP (733-2447) 1-407-644-4256 AENT@redchip.com
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