Net sales increased by 51.6% to $7,476.5 million in 2025, up from $4,930.9 million in 2024, primarily due to the Mattress Firm acquisition. Adjusted gross margin improved by 250 basis points to 44.4% in 2025, compared to 41.9% in 2024. Adjusted operating income rose 41.2% to $1,018.7 million in 2025, from $721.3 million in 2024, benefiting from the Mattress Firm inclusion and realized synergies. GAAP net income slightly decreased by 0.1% to $384.1 million in 2025, while adjusted net income increased by 24.2% to $565.3 million. Diluted EPS decreased by 14.8% to $1.84, but adjusted diluted EPS increased by 5.9% to $2.70. The Mattress Firm acquisition, completed on February 5, 2025, for approximately $5.1 billion, contributed $3,505.4 million in sales for the stub period. The company divested 73 Mattress Firm retail locations and its Sleep Outfitters subsidiary on May 1, 2025, incurring a $13.9 million loss on disposal. Total debt increased to $4,717.3 million as of December 31, 2025, from $3,844.5 million in 2024, with a leverage ratio of 3.21 times consolidated indebtedness less netted cash to adjusted EBITDA.