$NNBR

NN INC

CIK:0000918541|SEC Filings

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($) shares in Thousands, $ 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	$ 128,741	$ 107,921	$ 247,193	$ 213,609
Cost of sales (exclusive of depreciation and amortization shown separately below)	106,863	89,699	205,894	181,345
Selling, general, and administrative expense	12,570	12,095	25,864	23,265
Depreciation and amortization	9,344	8,918	18,584	17,692
Other operating income, net	(1,041)	(1,327)	(2,096)	(2,440)
Income (loss) from operations	1,005	(1,464)	(1,053)	(6,253)
Interest expense	5,720	5,657	11,489	10,851
Gain (Loss) on Extinguishment of Debt	0	3,007	0	3,007
Other expense (income), net	(217)	(619)	285	(2,788)
Loss before provision for income taxes and share of net income from joint venture	(4,498)	(9,509)	(12,827)	(17,323)
Provision for income taxes	(189)	(774)	(906)	(2,084)
Share of net income from joint venture	2,420	2,181	4,638	4,620
Net loss	(2,267)	(8,102)	(9,095)	(14,787)
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax	1,213	4,454	2,760	7,579
Other comprehensive income	1,213	4,454	2,760	7,579
Comprehensive Income (Loss), Net of Tax, Attributable to Parent, Total	$ (1,054)	$ (3,648)	$ (6,335)	$ (7,208)
Earnings Per Share, Basic [Abstract]
Net loss per common share (in dollars per shares)	$ (0.13)	$ (0.26)	$ (0.38)	$ (0.48)
Weighted average common shares outstanding, basic (in shares)	50,256	49,433	49,982	49,255
Earnings Per Share, Diluted [Abstract]
Net loss per common share (in dollars per share)	$ (0.13)	$ (0.26)	$ (0.38)	$ (0.48)
Weighted average common shares outstanding, diluted (in shares)	50,256	49,433	49,982	49,255

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net Income (Loss)	$ (9,095)	$ (14,787)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	18,584	17,692
Amortization of debt issuance costs and discount	499	1,024
Paid-in-kind interest	3,283	1,236
Loss on extinguishment of debt	0	3,007
Total derivative loss (gain)	250	(2,036)
Share of net income from joint venture	(4,638)	(4,620)
Share-based compensation expense	1,609	1,640
Deferred income taxes	(393)	(5)
Other	741	(785)
Changes in operating assets and liabilities:
Accounts receivable	(13,120)	(6,568)
Inventories	(2,889)	1,044
Other operating assets	2,599	3,318
Accounts payable	4,276	6,564
Income taxes receivable and payable, net	12,708	(589)
Other operating liabilities	2,582	(3,540)
Net cash provided by (used in) operating activities	11,798	(4,041)
Cash flows from investing activities
Acquisition of property, plant and equipment	(8,525)	(7,630)
Proceeds from sale of property, plant, and equipment	118	451
Net cash used in investing activities	(8,407)	(7,179)
Cash flows from financing activities
Minimum required cash proceeds	44,825	21,000
Repayments of Lines of Credit	49,525	21,400
Proceeds from long-term debt	10,000	118,579
Repayments of long-term debt	(566)	(115,356)
Proceeds from sale-leaseback of equipment	0	946
Proceeds from sale-leaseback of land and buildings	0	4,300
Repayments of financing obligations	(949)	(601)
Payments for debt issuance costs	(100)	(3,553)
Other	(3,088)	(2,352)
Net cash provided by financing activities	597	1,563
Effect of exchange rate changes on cash flows	1,085	1,071
Net change in cash and cash equivalents	5,073	(8,586)
Cash and cash equivalents at beginning of period	11,377	18,128
Noncash or Part Noncash Acquisition, Fixed Assets Acquired	2,208	3,547
Loans Assumed	0	1,304
Cash cash equivalents at end of period	16,450	9,542
Cash Flow, Noncash Investing and Financing Activities Disclosure [Abstract]
Noncash or Part Noncash Acquisition, Fixed Assets Acquired	2,208	3,547
Loans Assumed	$ 0	$ 1,304

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Assets, Current [Abstract]
Cash and cash equivalents	$ 16,450	$ 11,377
Accounts receivable, net of allowances of $2,651 and $1,401 at June 30, 2026 and December 31, 2025	72,093	59,785
Inventories	69,356	65,978
Income tax receivable	478	13,389
Prepaid Expenses and Other Current Assets	5,296	2,952
Other current assets	10,676	10,526
Total current assets	174,349	164,007
Property, plant and equipment, net of accumulated depreciation of $277,576 and $265,399 at June 30, 2026 and December 31, 2025	160,725	158,885
Operating lease right-of-use assets	32,370	35,155
Intangible assets, net	23,978	30,789
Investment in joint venture	48,474	42,543
Deferred tax assets	1,674	1,673
Other non-current assets	7,049	7,732
Total assets	448,619	440,784
Liabilities, Current [Abstract]
Accounts payable	56,405	49,442
Accrued salaries, wages and benefits	15,184	14,004
Income tax payable	343	553
Current maturities of long-term debt	3,257	5,791
Current portion of operating lease liabilities	6,113	6,430
Other current liabilities	16,332	13,575
Total current liabilities	97,634	89,795
Deferred tax liabilities	3,862	4,312
Long-term debt, net of current maturities	163,227	153,758
Operating lease liabilities, net of current portion	33,790	37,092
Other non-current liabilities	6,767	9,420
Total liabilities	305,280	294,377
Series D perpetual preferred stock - $0.01 par value per share, 65 shares authorized, issued and outstanding at June 30, 2026 and December 31, 2025	122,128	112,409
Common stock - $0.01 par value per share, 90,000 shares authorized, 52,574 and 50,196 shares issued and outstanding at June 30, 2026 and December 31, 2025	525	502
Additional paid-in capital	433,225	439,700
Accumulated deficit	(376,720)	(367,625)
Accumulated other comprehensive loss	(35,819)	(38,579)
Total stockholders’ equity	21,211	33,998
Total liabilities, preferred stock, and stockholders’ equity	$ 448,619	$ 440,784