$BOOM

DYNAMIC MATERIALS CORP

CIK:0000034067|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Net sales	$ 156,953	$ 155,487	$ 292,548	$ 314,777
Cost of products sold	122,598	118,756	232,750	236,847
Gross profit	34,355	36,731	59,798	77,930
Costs and expenses:
General and administrative expenses	13,916	15,905	28,048	32,579
Selling and distribution expenses	10,625	10,242	21,097	21,868
Amortization of purchased intangible assets	4,357	4,763	8,713	9,526
Strategic review and related expenses	0	775	0	2,073
Restructuring expenses and asset impairments	239	1,149	805	1,474
Total costs and expenses	29,137	32,834	58,663	67,520
Operating income	5,218	3,897	1,135	10,410
Other expense:
Other income, net	15	(346)	(30)	(564)
Interest expense, net	(1,280)	(1,811)	(2,741)	(3,510)
Income (loss) before income taxes	3,953	1,740	(1,636)	6,336
Income tax provision	1,936	1,419	3,157	4,152
Net income (loss)	2,017	321	(4,793)	2,184
Less: Net income attributable to redeemable noncontrolling interest	1,510	205	765	1,391
Net income (loss) attributable to DMC Global Inc. stockholders	$ 507	$ 116	$ (5,558)	$ 793
Net income (loss) per share attributable to DMC Global Inc. stockholders:
Basic (in dollars per share)	$ 0.10	$ (0.24)	$ (0.24)	$ (0.20)
Diluted (in dollars per share)	$ 0.10	$ (0.24)	$ (0.24)	$ (0.20)
Weighted average shares outstanding:
Basic (in shares)	20,199,424	20,134,760	20,133,159	19,861,073
Diluted (in shares)	20,235,822	20,134,760	20,133,159	19,861,073
Reconciliation to net income (loss) attributable to DMC Global Inc. stockholders
Net income (loss) attributable to DMC Global Inc. stockholders	$ 507	$ 116	$ (5,558)	$ 793
Adjustment of redeemable noncontrolling interest	1,541	(4,900)	806	(4,819)
Net income (loss) attributable to DMC Global Inc. stockholders after adjustment of redeemable noncontrolling interest	$ 2,048	$ (4,784)	$ (4,752)	$ (4,026)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net (loss) income	$ (4,793)	$ 2,184
Adjustments to reconcile net (loss) income to net cash from operating activities:
Depreciation	7,303	7,367
Amortization of purchased intangible assets	8,713	9,526
Amortization of deferred debt issuance costs	472	448
Stock-based compensation	1,657	3,016
Bad debt expense	95	696
Deferred income taxes	559	414
Asset impairments	0	296
Other, net	(576)	988
Change in:
Accounts receivable, net	(9,193)	(4,854)
Inventories	(23,444)	10,716
Prepaid expenses and other	6,781	12,367
Accounts payable	1,882	(4,449)
Contract liabilities	7,630	(11,415)
Accrued expenses and other liabilities	(7,425)	(7,566)
Net cash (used in) provided by operating activities	(10,339)	19,734
Cash flows from investing activities:
Acquisition of property, plant and equipment	(3,384)	(6,700)
Proceeds from property, plant and equipment reimbursements	1,403	1,788
Proceeds on sale of property, plant and equipment	335	27
Proceeds from settlement of note receivable	0	4,167
Net cash used in investing activities	(1,646)	(718)
Cash flows from financing activities:
Repayments on term loan	(1,562)	(1,250)
Borrowings on revolving loans	123,938	46,859
Repayments on revolving loans	(114,175)	(57,887)
Payment of debt issuance costs	0	(650)
Distributions to redeemable noncontrolling interest holder	0	(6,255)
Treasury stock purchases	(460)	(563)
Net cash provided by (used in) financing activities	7,741	(19,746)
Effects of exchange rates on cash	897	(1,132)
Net decrease in cash and cash equivalents	(3,347)	(1,862)
Cash and cash equivalents, beginning of the period	31,898	14,289
Cash and cash equivalents, end of the period	$ 28,551	$ 12,427

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 28,551	$ 31,898
Accounts receivable, net of allowance for doubtful accounts of $9,839 and $9,790, respectively	102,051	93,697
Inventories	167,309	144,552
Prepaid expenses and other	15,256	16,224
Total current assets	313,167	286,371
Property, plant and equipment	248,312	249,280
Less - accumulated depreciation	(127,208)	(121,922)
Property, plant and equipment, net	121,104	127,358
Purchased intangible assets, net	146,338	155,051
Deferred tax assets	211	833
Other assets	68,806	66,218
Total assets	649,626	635,831
Current liabilities:
Accounts payable	49,076	48,188
Accrued expenses	14,173	12,375
Accrued income taxes	2,762	4,289
Accrued employee compensation and benefits	11,921	13,111
Contract liabilities	30,072	22,568
Current portion of long-term debt	3,750	3,438
Other current liabilities	10,776	10,356
Total current liabilities	122,530	114,325
Long-term debt	55,314	47,206
Deferred tax liabilities	412	475
Other long-term liabilities	46,940	44,695
Total liabilities	225,196	206,701
Commitments and contingencies (Note 11)
Redeemable noncontrolling interest	187,080	187,080
Stockholders’ equity
Preferred stock, $0.05 par value; 4,000,000 shares authorized; no issued and outstanding shares	0	0
Common stock, $0.05 par value; 50,000,000 shares authorized; 21,559,103 and 21,497,468 shares issued, respectively	1,078	1,075
Additional paid-in capital	308,712	306,293
Accumulated deficit	(19,010)	(13,452)
Other cumulative comprehensive loss	(25,820)	(24,716)
Treasury stock, at cost, and company stock held for deferred compensation, at par; 1,018,154 and 979,334 shares, respectively	(27,610)	(27,150)
Total stockholders’ equity	237,350	242,050
Total liabilities, redeemable noncontrolling interest, and stockholders’ equity	$ 649,626	$ 635,831