Bruker projects 2026 revenues between $3.57 billion and $3.60 billion, implying 4–5% growth, with adjusted EPS of $2.10–$2.15, up 15–17% year-over-year. Management expects margin improvement from major multi-year agreements in the Energy & Supercon Technologies segment. Fourth-quarter revenues reached $977.2 million, slightly down 0.2% year-over-year but 1.1% above estimates. Organic revenues declined 5.1% after stripping out 0.8% acquisition growth and a 4.1% positive currency impact. U.S. sales dropped 13.8%, Europe rose 1%, Asia Pacific gained 8.3%, and Other climbed 9.6%. Bruker reported Q4 adjusted EPS of $0.59, down 22.4% year-over-year and missing consensus by 9.2%, while GAAP EPS was $0.10 compared to $0.09 a year earlier. Full-year 2025 adjusted EPS fell 24.1% to $1.83. Gross profit decreased 8.9% to $449.2 million, driving a 439 bps gross margin contraction to 46% due to higher costs of revenue. SG&A was flat at $247.2 million and R&D fell 4.6% to $99.6 million, leading adjusted operating margin to shrink 398 bps to 10.5%.