Earnings

U.S. revenue climbed 119% to $1.937 billion, about 84% of the total. Within that, U.S. commercial revenue grew 148% to $984 million, up 29% sequentially, while U.S. government revenue grew 96% to $953 million, so commercial moved ahead of government for the first time.

Gross profit increased 25.4% to $93.8 million, and adjustedGross Profitrose 23.1% to $99.8 million. Contribution profit grew 20.6% to $118.5 million, at $0.54 per transaction, roughly flat from a year ago. Contribution margin was 31.8%, versus 31.6%.

The company owns 66.8 million shares, about 26.6% of a casino and resorts operator, and marks the stake to market each period. That produced an unrealized loss of $1.12 billion in the quarter, partly cushioned by an income tax benefit of $278.4 million and …

Pershing Square is an alternative asset manager that runs pools of permanentCapitalin long-term, high-return investment strategies. It went public with an offering whose prospectus was filed on Apr 30, 2026.

Non-GAAP operating earnings were $1.15 per share, up from $1.13. The gap came largely from non-tradingCommoditymark-to-market activity, which cost $180 million after tax versus a $15 million gain in 2025. Nine-month net income was $2.91 per share against $3.59, with operating earnings of $3.56 …

Revenue grew to $1,621.6 million from $1,470.6 million, a rise of about 10.3% (calculated).Funds From Operations (FFO)were $1.10 per share against $1.07, and normalized FFO was $1.10 per share against $1.09.

Recursion is a clinical-stage company that combines artificial intelligence, automation and biological data to discover and develop medicines. It earns revenue from collaborations with large drugmakers while advancing its own oncology and rare disease candidates.