$SRI

STONERIDGE INC

CIK:0001043337|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	$ 181,384	$ 157,541	$ 342,231	$ 306,598
Costs and expenses:
Cost of goods sold	144,551	121,192	270,442	234,998
Selling, general and administrative	26,061	25,704	58,590	51,569
Design and development	11,960	14,841	23,365	28,533
Operating loss	(1,188)	(4,196)	(10,166)	(8,502)
Interest expense, net	2,404	3,233	6,089	6,475
Equity in (earnings) loss of investee	(222)	(50)	9	(344)
Other (income) expense, net	(649)	2,222	(179)	1,396
Loss before income taxes from continuing operations	(2,721)	(9,601)	(16,085)	(16,029)
Provision for income taxes from continuing operations	2,555	1,542	3,969	3,118
Loss from continuing operations	(5,276)	(11,143)	(20,054)	(19,147)
Discontinued operations:
Loss (income) from discontinued operations, net of tax	0	(1,784)	3,322	(2,592)
Loss on disposal, net of tax	0	0	9,817	0
Total loss (income) from discontinued operations	0	(1,784)	13,139	(2,592)
Net loss	$ (5,276)	$ (9,359)	$ (33,193)	$ (16,555)
Loss per share from continuing operations:
Basic (in dollars per share)	$ (0.19)	$ (0.40)	$ (0.71)	$ (0.69)
Diluted (in dollars per share)	(0.19)	(0.40)	(0.71)	(0.69)
(Loss) income per share from discontinued operations:
Basic (in dollars per share)	0	0.06	(0.47)	0.09
Diluted (in dollars per share)	0	0.06	(0.47)	0.09
Loss per share from Stoneridge Inc.:
Basic (in dollars per share)	(0.19)	(0.34)	(1.18)	(0.60)
Diluted (in dollars per share)	$ (0.19)	$ (0.34)	$ (1.18)	$ (0.60)
Weighted-average shares outstanding:
Basic (in shares)	28,243,855	27,788,367	28,070,817	27,734,145
Diluted (in shares)	28,243,855	27,788,367	28,070,817	27,734,145

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
OPERATING ACTIVITIES:
Net loss	$ (33,193)	$ (16,555)
Adjustments to reconcile net loss to net cash provided by (used for) operating activities:
Loss (income) from discontinued operations	3,322	(2,592)
Depreciation	6,805	10,779
Amortization, including accretion and write-off of deferred financing costs	5,438	4,544
Deferred income taxes	167	(3,491)
Loss (gain) of equity method investee	9	(344)
(Gain) loss on sale of fixed assets	(85)	78
Share-based compensation expense	4,718	2,560
Excess tax deficiency related to share-based compensation expense	0	453
Loss on disposal of business, net	9,817	0
Changes in operating assets and liabilities:
Accounts receivable, net	(45,754)	(15,101)
Inventories, net	(8,265)	18,301
Prepaid expenses and other assets	3,219	(2,668)
Accounts payable	47,123	15,540
Accrued expenses and other liabilities	7,496	7,492
Net cash provided by operating activities - continuing operations	816	18,996
INVESTING ACTIVITIES:
Capital expenditures, including intangibles	(5,409)	(9,352)
Proceeds from sale of fixed assets	292	225
Proceeds from sale of business, net	59,000	0
Investment in venture capital fund, net	(40)	(92)
Net cash provided by (used for) investing activities - continuing operations	53,843	(9,219)
FINANCING ACTIVITIES:
Revolving credit facility borrowings	20,000	18,500
Revolving credit facility payments	(49,000)	(59,000)
Proceeds from issuance of debt	4,404	12,805
Repayments of debt	(4,418)	(13,366)
Other financing costs	(1,577)	0
Repurchase of Common Shares to satisfy employee tax withholding	(1,250)	(302)
Net cash used for financing activities - continuing operations	(31,841)	(41,363)
CASH FLOWS FROM DISCONTINUED OPERATIONS
Cash (used in) provided by operations - discontinued operations	(3,195)	4,751
Cash used for investing activities - discontinued operations	(127)	(2,159)
Cash used for financing activities - discontinued operations	0	0
Net cash (used for) provided by discontinued operations	(3,322)	2,592
Effect of exchange rate changes on cash and cash equivalents	(1,039)	6,934
Net change in cash and cash equivalents	18,457	(22,060)
Cash and cash equivalents at beginning of period	53,057	71,832
Cash and cash equivalents at end of period	71,514	49,772
Supplemental disclosure of cash flow information:
Cash paid for interest from continuing operations	6,317	6,882
Cash paid for income taxes, net from continuing operations	$ 3,488	$ 6,937

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 71,514	$ 53,057
Accounts receivable, less reserves of $543 and $325, respectively	135,744	89,019
Inventories, net	112,999	106,422
Prepaid expenses and other current assets	24,025	26,956
Current assets of discontinued operations	0	86,342
Total current assets	344,282	361,796
Long-term assets:
Property, plant and equipment, net	61,117	62,659
Intangible assets, net	33,077	37,632
Goodwill	36,528	37,590
Operating lease right-of-use asset	8,486	9,570
Investments and other long-term assets, net	23,236	22,167
Long-term assets of discontinued operations	0	19,702
Total long-term assets	162,444	189,320
Total assets	506,726	551,116
LIABILITIES AND SHAREHOLDERS' EQUITY
Accounts payable	108,297	62,398
Accrued expenses and other current liabilities	73,757	65,132
Current liabilities of discontinued operations	0	29,955
Total current liabilities	182,054	157,485
Long-term liabilities:
Revolving credit facility	151,089	180,942
Deferred income taxes	8,688	9,972
Operating lease long-term liability	5,776	6,601
Other long-term liabilities	9,994	11,604
Long-term liabilities of discontinued operations	0	4,733
Total long-term liabilities	175,547	213,852
Preferred Shares, without par value, 5,000 shares authorized, none issued	0	0
Common Shares, without par value, 60,000 shares authorized, 28,966 and 28,966 shares issued and 28,524 and 28,018 shares outstanding at June 30, 2026 and December 31, 2025, respectively, with no stated value	0	0
Additional paid-in capital	204,854	219,186
Common Shares held in treasury, 442 and 948 shares at June 30, 2026 and December 31, 2025, respectively, at cost	(9,649)	(27,457)
Retained earnings	43,957	77,150
Accumulated other comprehensive loss	(90,037)	(89,100)
Total shareholders' equity	149,125	179,779
Total liabilities and shareholders' equity	$ 506,726	$ 551,116