Total revenues increased by 9.2% to $1.93 billion in 2025 from $1.77 billion in 2024. Gross profit increased by 18.7% to $304.0 million, with gross profit as a percentage of revenues rising to 15.7% from 14.5%. Net income attributable to common shareholders decreased by 22.0% to $44.3 million in 2025 from $56.8 million in 2024, primarily due to higher income attributable to non-controlling interests and the absence of a $38.0 million gain on sale of business recognized in 2024. Basic earnings per share was $0.84, a decrease of $0.24 per share compared to $1.08 in 2024. Europe segment revenue surged by 111.1% ($278.4 million) due to continued growth and expansion in project business. U.S. Federal segment revenue decreased by 21.4% ($79.9 million) due to project timing and a reversal of previously recognized revenue. Renewable Fuels segment revenue decreased by 8.6% ($14.9 million) due to lower project revenues, partially offset by increased energy asset revenues. Operating income increased by 13.3% to $123.2 million. Interest expense, net, increased by 25.3% to $87.9 million due to increases in energy asset financings and corporate debt outstanding. Cash flows from operating activities were negative $80.4 million in 2025, compared to positive $117.6 million in 2024. Project backlog (fully-contracted and awarded) increased to $5.04 billion as of December 31, 2025, from $4.82 billion in 2024. O&M backlog increased to $1.47 billion as of December 31, 2025, from $1.38 billion in 2024. Assets in development increased to $2.7 billion as of December 31, 2025, from $2.3 billion in 2024.