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NN INC

For the period ended Sep 30, 2024. Filed Oct 31, 2024.

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About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2024 · Filed Oct 31, 2024

NNBR$2.75+3.0%Stored close · as of Nov 6, 2026
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2024

OR

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission File Number 001-39268

(Exact name of registrant as specified in its charter)

Delaware62-1096725
(State or other jurisdiction ofincorporation or organization)(I.R.S. EmployerIdentification No.)

6210 Ardrey Kell Road, Suite 120

Charlotte, North Carolina 28277

(Address of principal executive offices, including zip code)

(980)264-4300

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading symbolName of each exchange on which registered
Common Stock, par value $0.01NNBRThe Nasdaq Stock Market LLC

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer☐Accelerated filer☒
Non-accelerated filer☐Smaller reporting company☒
Emerging growth company☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐ No☒

As of October 21, 2024, there were 49,946,337 shares of the registrant’s common stock, par value $0.01 per share, outstanding.

INDEX

Page
PART I. FINANCIAL INFORMATION3
Item 1.Financial Statements3
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited)3
Condensed Consolidated Balance Sheets (Unaudited)4
Condensed Consolidated Statements of Cash Flows (Unaudited)5
Condensed Consolidated Statements of Changes in Stockholders’ Equity (Unaudited)6
Notes to Condensed Consolidated Financial Statements (Unaudited)8
Note 1. Interim Financial Statements8
Note 2. Segment Information8
Note 3. Revenue from Contracts with Customers9
Note 4. Inventories10
Note 5. Intangible Assets10
Note 6. Investment in Joint Venture11
Note 7. Debt11
Note 8. Preferred Stock12
Note 9. Leases13
Note 10. Commitments and Contingencies13
Note 11. Income Taxes14
Note 12. Net Loss Per Common Share14
Note 13. Share-Based Compensation15
Note 14. Accumulated Other Comprehensive Income16
Note 15. Fair Value Measurements17
Note 16. Divestiture18
Note 17. Plant Optimization Activities19
Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations20
Item 3.Quantitative and Qualitative Disclosures About Market Risk26
Item 4.Controls and Procedures26
PART II. OTHER INFORMATION27
Item 1.Legal Proceedings27
Item 1A.Risk Factors27
Item 2.Unregistered Sales of Equity Securities and Use of Proceeds27
Item 3.Defaults Upon Senior Securities27
Item 4.Mine Safety Disclosures27
Item 5.Other Information27
Item 6.Exhibits27
SIGNATURES28
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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.