Montrose Environmental Group, Inc. reported a net loss of $0.8 million for the fiscal year ended December 31, 2025, a substantial improvement from a $62.3 million net loss in 2024. Total revenues increased by 19.3% to $830.5 million in 2025, up from $696.4 million in 2024. Organic growth contributed 12.7% ($81.8 million) to the revenue increase, with an additional $29.0 million from emergency response services and $25.0 million from 2024 acquisitions. Net cash provided by operating activities surged to $107.5 million in 2025, compared to $22.2 million in 2024. The company fully redeemed its Series A-2 Preferred Stock, totaling $122.2 million, in April and July 2025. Total debt, net of deferred debt issuance costs, increased to $288.3 million as of December 31, 2025, from $222.7 million in 2024, primarily due to increased revolving line of credit usage. The company refinanced its credit facility in February 2025, establishing a new $500.0 million facility comprising a $200.0 million term loan and a $300.0 million revolving line of credit. A stock repurchase program of up to $40.0 million was approved in May 2025, though no repurchases have been made as of year-end. The company exited all European operations in 2025 and is winding down its renewables business within the Remediation and Reuse segment due to regulatory uncertainty and declining demand.