Net operating revenues and stimulus income increased 16.1% to $1,517,781,000 for the year ended December 31, 2025, compared to $1,307,382,000 in 2024. GAAP net income attributable to National HealthCare Corporation rose 17.7% to $120,015,000 in 2025 from $101,927,000 in 2024. Adjusted net income (non-GAAP) increased to $104,067,000 for the year ended December 31, 2025, compared to $76,862,000 for the same period a year ago. Overall skilled nursing facility census for owned and leased facilities improved to 89.7% in 2025, up from 88.6% in 2024 and 87.9% in 2023. The acquisition of White Oak Management, Inc. on August 1, 2024, significantly contributed to revenue growth, attributing $227,545,000 in net patient revenues for 2025. Agency nurse staffing expenses decreased by $9,335,000, or approximately 66.6%, in 2025 compared to the prior year. The company operates or manages 80 skilled nursing facilities, 26 assisted living facilities, 9 independent living facilities, 3 behavioral health hospitals, 34 homecare agencies, and 33 hospice agencies across 9 states. 62.5% of skilled nursing facilities are rated 4 or 5 stars by CMS, significantly above the industry average of 38.6%. The average CMS 5-star rating for all skilled nursing facilities is 3.83, compared to the industry average of 2.95. Supplemental Medicaid payments received were $7,246,000 in 2025, a decrease from $12,749,000 in 2024 and $20,214,000 in 2023. The company paid down $97,000,000 of long-term debt in 2025. Dividends declared per common share increased to $2.53 in 2025 from $2.42 in 2024 and $2.34 in 2023.