$HURC

HURCO COMPANIES INC

CIK:0000315374|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 31, 2026	Jul. 31, 2025	Jul. 31, 2026	Jul. 31, 2025
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
Sales and service fees	$ 47,289	$ 45,806	$ 137,775	$ 133,087
Cost of sales and service	34,106	36,694	106,323	107,856
Gross profit	13,183	9,112	31,452	25,231
Selling, general and administrative expenses	10,889	10,762	33,127	32,041
Operating (loss) income	2,294	(1,650)	(1,675)	(6,810)
Interest expense	25	4	61	66
Interest income	86	58	199	239
Investment income, net	95	13	204	186
Other income (expense), net	296	(1,543)	(525)	(2,499)
(Loss) income before income taxes	2,746	(3,126)	(1,858)	(8,950)
Provision (benefit) for income taxes	432	567	1,668	3,126
Net (loss) income	$ 2,314	$ (3,693)	$ (3,526)	$ (12,076)
(Loss) income per common share	$ 0.35	$ (0.58)	$ (0.55)	$ (1.87)
(Loss) income per common share	$ 0.35	$ (0.58)	$ (0.55)	$ (1.87)
Weighted average common shares outstanding - basic	6,476	6,463	6,456	6,474
Weighted average common shares outstanding - diluted	6,497	6,463	6,456	6,474

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 31, 2026	Jul. 31, 2025	Jul. 31, 2026	Jul. 31, 2025
Cash flows from operating activities:
Net (loss) income	$ 2,314	$ (3,693)	$ (3,526)	$ (12,076)
Adjustments to reconcile net (loss) income to net cash provided by (used for) operating activities:
Provision for doubtful accounts	(9)	(125)	10	(134)
Deferred income taxes	(226)	(1,623)	(2,412)	(4,000)
Deferred income tax valuation allowance	161	1,639	2,283	5,294
Equity in (income) loss of affiliates	(35)	179	(165)	48
Foreign currency (gain) loss	(1,009)	3,099	(2,601)	2,552
Unrealized (gain) loss on derivatives	(654)	(813)	(1,258)	(914)
Depreciation and amortization	484	642	1,570	2,000
Stock-based compensation	576	578	1,642	1,629
Change in assets and liabilities:
(Increase) decrease in accounts receivable	463	(1,638)	184	9,754
(Increase) decrease in inventories	(1,373)	1,467	4,821	11,099
(Increase) decrease in prepaid and other assets	(702)	185	(2,187)	(1,182)
Increase (decrease) in accounts payable	3,062	2,489	3,991	1,104
Increase (decrease) in customer deposits	(181)	820	2,900	80
Increase (decrease) in accrued expenses	237	(288)	35	(461)
Increase (decrease) in accrued payroll and employee benefits	157	(145)	(3)	(967)
Increase (decrease) in accrued income tax	(37)	(244)	(458)	726
Net change in deferred tax assets and liabilities	365	47	631	172
Net change in derivative assets and liabilities	78	171	(202)	(63)
Other	134	(209)	72	(789)
Net cash provided by (used for) operating activities	3,805	2,538	5,327	13,872
Cash flows from investing activities:
Proceeds from sale of property and equipment		69	151	245
Purchase of property and equipment	(331)	(470)	(580)	(871)
Software development costs	(703)	(462)	(1,792)	(1,417)
Cash received from sale of a business			1,165
Other investments		118		118
Net cash provided by (used for) investing activities	(1,034)	(745)	(1,056)	(1,925)
Cash flows from financing activities:
Stock repurchases		(2,000)		(2,000)
Taxes paid related to net settlement of restricted shares			(271)	(352)
Net cash provided by (used for) financing activities		(2,000)	(271)	(2,352)
Effect of exchange rate changes on cash and cash equivalents	(739)	894	(626)	1,569
Net increase (decrease) in cash and cash equivalents	2,032	687	3,374	11,164
Cash and cash equivalents at beginning of period	50,055	43,807	48,713	33,330
Cash and cash equivalents at end of period	52,087	44,494	52,087	44,494
Cash paid for:
Income taxes, net	$ 543	$ 813	$ 1,406	$ 1,586

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jul. 31, 2026	Oct. 31, 2025
Current assets:
Cash and cash equivalents	$ 52,087	$ 48,713
Accounts receivable, net	26,845	27,928
Inventories	136,616	142,931
Derivative assets	251	263
Prepaid and other assets	6,905	5,243
Total current assets	222,704	225,078
Property and equipment:
Land	1,046	1,046
Building	7,381	7,381
Machinery and equipment	23,993	26,061
Leasehold improvements	4,273	4,569
Property and equipment, gross	36,693	39,057
Less accumulated depreciation and amortization	(29,536)	(31,083)
Total property and equipment, net	7,157	7,974
Non-current assets:
Software development costs, less accumulated amortization	9,393	8,090
Intangible assets, net	346	627
Operating lease - right of use assets, net	9,455	11,560
Deferred income taxes	744	794
Investments	9,037	9,005
Other assets	1,184	1,170
Total non-current assets	30,159	31,246
Total assets	260,020	264,298
Current liabilities:
Accounts payable	29,207	26,074
Customer deposits	7,537	4,788
Derivative liabilities	1,818	3,084
Operating lease liabilities	4,124	4,374
Accrued payroll and employee benefits	7,467	7,474
Accrued income taxes	989	1,472
Accrued expenses	3,774	3,790
Accrued warranty expenses	1,071	967
Total current liabilities	55,987	52,023
Non-current liabilities:
Deferred income taxes	37	38
Operating lease liabilities	5,716	7,560
Deferred credits and other	5,991	5,890
Total non-current liabilities	11,744	13,488
Commitment and contingencies
Shareholders' equity:
Preferred stock: no par value per share, 1,000,000 shares authorized; no shares issued	0	0
Common stock: no par value, $.10 stated value per share, 12,500,000 shares authorized; 6,675,629 and 6,569,224 shares issued and 6,476,322 and 6,402,396 shares outstanding, as of July 31, 2026 and October 31, 2025, respectively	648	640
Additional paid-in capital	62,213	60,850
Retained earnings	142,779	146,305
Accumulated other comprehensive loss	(13,351)	(9,008)
Total shareholders' equity	192,289	198,787
Total liabilities and shareholders' equity	$ 260,020	$ 264,298