Net sales increased by 6.8% to $526.0 million in 2025, up from $492.5 million in 2024. Net income rose by 3.5% to $35.4 million in 2025, compared to $34.2 million in 2024. Basic earnings per share (EPS) increased to $3.62 in 2025 from $3.45 in 2024, while diluted EPS grew to $3.56 from $3.40. The Water Transmission Systems (WTS) segment's net sales increased by 3.8% to $350.9 million, driven by a 14% increase in selling price per ton due to product mix changes, despite a 9% decrease in tons produced. The Precast Infrastructure and Engineered Systems (Precast) segment's net sales grew by 13.3% to $175.1 million, attributed to an 8% increase in volume shipped and a 4% increase in selling prices. Gross profit improved by 8.6% to $103.6 million (19.7% of net sales) in 2025, compared to $95.4 million (19.4% of net sales) in 2024. WTS backlog, representing signed contracts, increased to $234 million as of December 31, 2025, from $213 million in 2024. Total backlog, including confirmed orders, reached $346 million as of December 31, 2025, up from $310 million in 2024. The company completed the acquisition of Boughtons Precast, Inc. for approximately $9.0 million on February 23, 2026, expanding its precast geographic footprint. The corporate name changed from Northwest Pipe Company to NWPX Infrastructure, Inc. on June 12, 2025, and the Engineered Steel Pressure Pipe (SPP) segment was renamed Water Transmission Systems (WTS). The company maintains a robust cybersecurity risk management profile, adopting the NIST framework in 2024, with no material breaches reported as of the filing date. A share repurchase program was authorized for an additional $10 million on December 11, 2025, bringing the total authorization to $40 million, with $16.4 million remaining as of December 31, 2025.