$CODI-PC

Compass Diversified Holdings

CIK:0001345126|SEC Filings

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Discontinued operations (usd per share)	$ 0.02	$ 0.04	$ 0.02	$ 0.04
Earnings Per Share, Diluted	$ 0.86	$ (0.88)	$ 0.31	$ (1.39)
Income Tax Expense (Benefit)	$ 45,379	$ 17,358	$ 52,443	$ 19,896
Continuing operations (usd per share)	$ 0.84	$ (0.92)	$ 0.29	$ (1.43)
Impairment expense	$ 0	$ 31,515	$ 20,500	$ 31,515
Other Operating Income (Expense), Net	149	0	(10,234)	0
Gain on sale of discontinued operations, net of income tax	1,480	2,805	1,637	2,849
Income (loss) from continuing operations	79,609	(54,022)	48,693	(84,059)
Net revenues	424,042	478,690	850,897	932,465
Cost of Product and Service Sold	224,079	270,149	461,576	527,892
Gross profit	199,963	208,541	389,321	404,573
Operating expenses:
Selling, general and administrative expense	134,337	162,112	266,347	312,489
Management fees	13,817	19,035	29,751	37,898
Amortization expense	22,686	23,117	45,530	46,468
Operating income (loss)	28,974	(27,238)	37,427	(23,797)
Other income (expense):
Interest expense, net	(23,895)	(34,096)	(51,390)	(69,947)
Amortization of debt issuance costs	(2,047)	(971)	(4,094)	(2,096)
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal	182,342	0	182,342	0
Increase (Decrease) Due from Affiliates	(58,000)	0	(58,000)	0
Other income (expense), net	(121)	1,713	(2,799)	(11,968)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total	127,253	(63,419)	103,486	(110,635)
Income Tax Expense (Benefit)	45,379	17,358	52,443	19,896
Income (loss) from continuing operations	81,874	(80,777)	51,043	(130,531)
Net income (loss)	83,354	(77,972)	52,680	(127,682)
Less: Net income (loss) from continuing operations attributable to noncontrolling interest	(2,265)	26,755	(2,350)	46,472
Net income (loss) attributable to Holdings	$ 81,089	$ (51,217)	$ 50,330	$ (81,210)
Amounts attributable to Holdings
Weighted average number of shares of trust stock outstanding – basic and fully diluted (in shares)	75,236	75,236	75,236	75,236
Cash distributions declared per share (refer to Note J) (usd per share)	$ 0	$ 0.25	$ 0	$ 0.50
Velocity Outdoor [Member]
Net revenues	$ 17,109	$ 15,213	$ 30,935	$ 28,414

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net income (loss)	$ 52,680	$ (127,682)
Income (loss) from continuing operations	51,043	(130,531)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation expense	22,270	23,363
Amortization expense	45,530	46,468
Amortization of debt issuance costs	4,094	2,096
Increase (Decrease) Due from Affiliates	58,000	0
Gain (Loss) on Extinguishment of Debt	0	2,827
Impairment expense	20,500	31,515
Noncontrolling stockholder stock based compensation	5,839	8,201
Accounts Receivable, Credit Loss Expense (Reversal)	446	588
Deferred income taxes	(4,125)	3,629
Gain (Loss) on Disposition of Assets	(182,342)	0
Sale and Leaseback Transaction, Gain (Loss), Net	(10,234)	0
Other	1,725	(1,897)
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable	(1,844)	(12,980)
Inventories	6,951	(34,564)
Other current and non-current assets	22,990	4,400
Accounts payable and accrued expenses	12,774	(7,623)
Net Cash Provided by (Used in) Operating Activities, Total	53,617	(64,508)
Payments to Acquire Businesses, Net of Cash Acquired	0	495
Cash flows from investing activities:
Purchases of property and equipment	(11,343)	(23,983)
Proceeds from sale of business	290,191	2,849
Other investing activities	10,279	(1,548)
Cash flows from financing activities:
Proceeds from Issuance of Common Stock	0	59
Borrowings - revolving credit facility	67,000	73,500
Repayments - revolving credit facility	(65,000)	(183,500)
Proceeds from Issuance of Debt	0	200,000
Repayments of Senior Debt	(292,750)	0
Repayments of Other Long-Term Debt	(7,500)	(7,500)
Subsidiary financing arrangements - borrowings	0	27,092
Repayments From Subsidiary Borrowings	0	(8,360)
Distributions paid - common shares	0	(37,618)
Distributions paid - preferred shares	(19,429)	(18,148)
Net proceeds provided by noncontrolling shareholders	5,140	1,710
Payments for Repurchase Subsidiary Stock	9,895	6,468
Payments of Debt Issuance Costs	0	(1,241)
Other	(30)	(28)
Net cash provided by (used in) financing activities	(322,464)	98,378
Foreign currency impact on cash	(852)	2,415
Net increase in cash and cash equivalents	19,428	14,098
Cash and cash equivalents — beginning of period	68,015	59,659
Cash and cash equivalents — end of period	87,443	73,757
Other Significant Noncash Transaction, Value of Consideration Received	0	4,534
Net Cash Provided by (Used in) Investing Activities, Total	289,127	(22,187)
Gain on sale of discontinued operations, net of income tax	1,637	2,849
Proceeds from Issuance of Preferred Stock and Preference Stock	$ 0	$ 58,998

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Trust shares, issued (shares)	76,135,000	76,135,000
Current assets:
Cash and cash equivalents	$ 87,443	$ 68,015
Accounts receivable, net	186,327	202,887
Inventories, net	375,763	404,102
Prepaid expenses and other current assets	57,468	78,398
Accounts and Other Receivables, Net, Current	6,275	20,757
Nontrade Receivables, Current	19,200	71,000
Total current assets	732,476	845,159
Property, plant and equipment, net	186,729	209,742
Goodwill	830,902	895,421
Intangible assets, net	817,310	892,811
Nontrade Receivables, Noncurrent	19,800	26,000
Other Assets	165,221	170,051
Total assets	2,752,438	3,039,184
Current liabilities:
Accounts payable	77,337	96,335
Accrued expenses	154,268	163,265
Debt, Current	43,250	37,500
Other current liabilities	49,408	52,519
Total current liabilities	324,263	349,619
Deferred Income Tax Liabilities, Net	92,804	104,189
Long-term debt	1,538,680	1,839,817
Other non-current liabilities	189,521	171,896
Total liabilities	$ 2,145,268	2,465,521
Preferred Stock, Shares Issued	20,109,000
Stockholders’ equity
Trust common shares, no par value, 500,000 authorized; 76,135 shares issued and 75,236 shares outstanding at June 30, 2026 and December 31, 2025, respectively.	$ 1,288,951	1,288,951
Accumulated other comprehensive income	373	738
Accumulated deficit	(1,275,684)	(1,306,585)
Total stockholders’ equity attributable to Holdings	472,560	442,024
Noncontrolling interest	134,610	131,639
Total stockholders’ equity	607,170	573,663
Total liabilities and stockholders’ equity	$ 2,752,438	$ 3,039,184
Preferred Stock, Shares Outstanding	20,109,000
Preferred Stock, Shares Authorized	50,000,000	50,000,000
Trust shares, par value (in dollars per share)	$ 0	$ 0
Trust shares, authorized (shares)	500,000,000	500,000,000
Trust shares, outstanding (shares)	75,236,000	75,236,000
Treasury Stock, Common, Value	$ (18,910)	$ (18,910)
Series A Preferred Stock
Preferred Stock, No Par Value	$ 0
Current liabilities:
Preferred Stock, Shares Issued	4,678,000
Preferred Stock, Value, Issued	$ 112,010	112,010
Stockholders’ equity
Preferred Stock, Shares Outstanding	4,678,000
Series B Preferred Stock [Member]
Preferred Stock, No Par Value	$ 0
Current liabilities:
Preferred Stock, Shares Issued	7,524,000
Preferred Stock, Value, Issued	$ 177,771	177,771
Stockholders’ equity
Preferred Stock, Shares Outstanding	7,524,000
Series C Preferred Stock [Member]
Preferred Stock, No Par Value	$ 0
Current liabilities:
Preferred Stock, Shares Issued	7,907,000
Preferred Stock, Value, Issued	$ 188,049	$ 188,049
Stockholders’ equity
Preferred Stock, Shares Outstanding	7,907,000