DMC Global Inc.
For the period ended Dec 31, 2025. Filed Feb 23, 2026.
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FY2025 · Filed Feb 23, 2026
BOOM$7.77-4.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Cash flows from operating activities: | |||
| Net (loss) income | $(11,745) | $(151,960) | $34,759 |
| Adjustments to reconcile net (loss) income to net cash from operating activities: | |||
| Depreciation | 14,904 | 13,891 | 13,840 |
| Amortization of purchased intangible assets | 19,053 | 21,155 | 22,667 |
| Amortization of deferred debt issuance costs | 971 | 841 | 553 |
| Stock-based compensation | 5,542 | 6,902 | 10,270 |
| Bad debt expense | 6,083 | 4,930 | 1,146 |
| Deferred income taxes | 231 | 4,219 | 970 |
| Asset impairments | 1,081 | 1,182 | 2,471 |
| Goodwill impairment | — | 141,725 | — |
| Unrealized gain on marketable securities | — | — | (148) |
| Other | 540 | (1,318) | (181) |
| Change in: | |||
| Accounts receivable, net | 6,400 | (3,484) | (12,280) |
| Inventories | 10,548 | 12,914 | (9,461) |
| Prepaid expenses and other | 14,050 | 6,885 | 15,619 |
| Accounts payable | 2,140 | 5,184 | (6,727) |
| Contract liabilities | (1,060) | 1,728 | (10,527) |
| Accrued expenses and other liabilities | (15,204) | (18,198) | 2,956 |
| Net cash provided by operating activities | 53,534 | 46,596 | 65,927 |
| Cash flows from investing activities: | |||
| Investment in marketable securities | — | — | (12,471) |
| Proceeds from maturities of marketable securities | — | 3,000 | — |
| Proceeds from sales of marketable securities | — | 9,619 | — |
| Acquisition of property, plant and equipment | (16,503) | (17,284) | (15,974) |
| Proceeds from property, plant and equipment reimbursements | 5,725 | 993 | — |
| Proceeds on sale of property, plant and equipment | 47 | 103 | 344 |
| Proceeds from settlement of note receivable | 4,167 | — | — |
| Net cash used in investing activities | (6,564) | (3,569) | (28,101) |
| Cash flows from financing activities: | |||
| Borrowings on term loan | — | 50,000 | — |
| Repayments on term loan | (2,500) | (119,375) | (17,500) |
| Borrowings on revolving loans | 146,124 | 90,150 | — |
| Repayments on revolving loans | (164,145) | (65,775) | — |
| Payments of debt issuance costs | (650) | (2,735) | — |
| Distributions to redeemable noncontrolling interest holder | (6,400) | (8,445) | (13,515) |
| Payment of deemed dividend to noncontrolling interest holder | — | (2,500) | — |
| Net proceeds from issuance of common stock to employees | — | 132 | 314 |
| Treasury stock purchases | (1,165) | (1,240) | (2,481) |
| Net cash used in financing activities | (28,736) | (59,788) | (33,182) |
| Effects of exchange rates on cash | (625) | 10 | 1,252 |
| Net increase (decrease) in cash and cash equivalents | 17,609 | (16,751) | 5,896 |
| Cash and cash equivalents, beginning of the period | 14,289 | 31,040 | 25,144 |
| Cash and cash equivalents, end of the period | $31,898 | $14,289 | $31,040 |
CONSOLIDATED STATEMENTS OF CASH FLOWS (CONTINUED)
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Supplemental cash flow information: | |||
| Non-cash lease liabilities arising from obtaining right-of-use assets | $4,229 | $6,301 | $4,335 |
| Cash paid during the period for: | |||
| Interest | $4,952 | $7,486 | $9,188 |
| Income taxes, net | $10,535 | $8,695 | $4,418 |
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