Net sales for fiscal year 2025 increased by 2% to $1,868.5 million, up from $1,829.9 million in 2024. Direct-to-Consumer (DTC) channel net sales grew 4% to $1,127.8 million, representing 60% of total net sales, primarily from Amazon Marketplace, corporate sales, and YETI retail stores. Wholesale channel net sales slightly decreased by $1.6 million to $740.7 million, accounting for 40% of total net sales, mainly due to a decline in Drinkware. Coolers & Equipment net sales increased 7% to $748.5 million, driven by strong performance in bags, soft coolers, and cargo. Drinkware net sales decreased 1% to $1,085.8 million, impacted by a promotional market, cautious wholesale buying, and supply chain constraints from manufacturing diversification. International net sales surged 16% to $394.4 million, led by growth in Europe, Australia, and the launch in Japan, now representing 21% of total net sales. Gross profit increased 1% to $1,072.7 million, but gross margin decreased by 70 basis points to 57.4% due to higher tariff costs and a shift in product mix. Selling, General, and Administrative (SG&A) expenses rose 5% to $859.1 million, increasing to 46.0% of net sales, primarily due to growth investments in technology, facilities, and employee compensation. Net income for 2025 was $165.4 million, a decrease from $175.7 million in 2024. Acquired certain assets, including designs, tooling, and intellectual property, related to the Helimix branded shaker bottle for $38.0 million in cash during Q3 2025, enabling the launch of the Yonder Shaker Bottle. Repurchased 8,157,674 shares of common stock for approximately $297.6 million in 2025, at an average price of $36.49 per share, under a $450.0 million authorized program. Cash balance as of January 3, 2026, was $188.3 million, with $73.8 million in long-term debt outstanding under Term Loan A and no outstanding borrowings under the Revolving Credit Facility.