BROADWIND, INC.
For the period ended Aug 11, 2026. Filed Aug 11, 2026.
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Aug 11, 2026 · Filed Aug 11, 2026
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Contents
EX-99.1 · FORWARD-LOOKING STATEMENTS
FORWARD-LOOKING STATEMENTS
This release contains “forward-looking statements”—that is, statements related to future, not past, events—as defined in Section 21E of the Securities Exchange Act of 1934, as amended, (the “Exchange Act”), that reflect our current expectations regarding our future growth, results of operations, financial condition, cash flows, performance, business prospects and opportunities, as well as assumptions made by, and information currently available to, our management. We have tried to identify forward-looking statements by using words such as “anticipate,” “believe,” “expect,” “intend,” “will,” “should,” “may,” “plan” and similar expressions, but these words are not the exclusive means of identifying forward-looking statements. Forward-looking statements include any statement that does not directly relate to a current or historical fact. Our forward-looking statements may include or relate to our beliefs, expectations, plans and/or assumptions with respect to the following: (i) the impact of our sale of the Abilene, Texas production facility and its effect on our financial results, (ii) our expectations and beliefs with respect to our financial guidance as set forth in our press releases from time to time, (iii) the impact of global health concerns on the economies and financial markets and the demand for our products; (iv) state, local and federal regulatory frameworks affecting the industries in which we compete, including the wind energy industry, and the related phase out, extension, continuation or renewal of federal tax incentives and grants, including the advanced manufacturing tax credits, and state renewable portfolio standards as well as new or continuing tariffs on steel or other products imported into the United States; (v) our customer relationships and our substantial dependency on a few significant customers and our efforts to diversify our customer base and sector focus and leverage relationships across business units; (vi) our ability to operate our business efficiently, comply with our debt obligations, manage capital expenditures and costs effectively, and generate cash flow; (vii) the economic and operational stability of our significant customers and suppliers, including their respective supply chains, and the ability to source alternative suppliers as necessary; (viii) our ability to continue to grow our business organically and through acquisitions; (ix) the production, sales, collections, customer deposits and revenues generated by new customer orders and our ability to realize the resulting cash flows; (x) information technology failures, network disruptions, cybersecurity attacks or breaches in data security; (xi) the sufficiency of our liquidity and alternate sources of funding, if necessary; (xii) our ability to realize revenue from customer orders and backlog; (xiii) the economy and the potential impact it may have on our business, including our customers; (xiv) the state of the wind energy market and other energy and industrial markets generally, including the availability of tax credits, and the impact of competition and economic volatility in those markets; (xv) the effects of market disruptions and regular market volatility, including fluctuations in the price of oil, gas and other commodities; (xvi) competition from new or existing industry participants including, in particular, increased competition from foreign tower manufacturers; (xvii) the effects of the change of administrations in the U.S. federal government; (xviii) our ability to successfully integrate and operate acquired companies and to identify, negotiate and execute future acquisitions; (xix) the potential loss of tax benefits if we experience an “ownership change” under Section 382 of the Internal Revenue Code of 1986, as amended; (xx) the effects of proxy contests and actions of activist stockholders; (xxi) the limited trading market for our securities and the volatility of market price for our securities; (xxii) our outstanding indebtedness and its impact on our business activities (including our ability to incur additional debt in the future); and (xxiii) the impact of future sales of our common stock or securities convertible into our common stock on our stock price. These statements are based on information currently available to us and are subject to various risks, uncertainties and other factors that could cause our actual growth, results of operations, financial condition, cash flows, performance, business prospects and opportunities to differ materially from those expressed in, or implied by, these statements including, but not limited to, those set forth under the caption “Risk Factors” in Part I, Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2025. We are under no duty to update any of these statements. You should not consider any list of such factors to be an exhaustive statement of all of the risks, uncertainties or other factors that could cause our current beliefs, expectations, plans and/or assumptions to change. Accordingly, forward-looking statements should not be relied upon as a predictor of actual results.
| BROADWIND, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED BALANCE SHEETS(IN THOUSANDS)(UNAUDITED) | ||
|---|---|---|
| June 30, | December 31, | |
| 2026 | 2025 | |
| ASSETS | ||
| CURRENT ASSETS: | ||
| Cash and cash equivalents | $17,043 | $457 |
| Accounts receivable, net | 16,991 | 11,198 |
| Inventories | 28,204 | 28,147 |
| Prepaid expenses and other current assets | 1,599 | 2,060 |
| Current assets - discontinued operations | 13,147 | 22,405 |
| Total current assets | 76,984 | 64,267 |
| LONG-TERM ASSETS: | ||
| Property and equipment, net | 20,140 | 18,069 |
| Operating lease right-of-use assets, net | 14,133 | 11,892 |
| Intangible assets, net | 519 | 741 |
| Other assets | 397 | 441 |
| Long-term assets - discontinued operations | - | 21,395 |
| TOTAL ASSETS | $112,173 | $116,805 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| CURRENT LIABILITIES: | ||
| Line of credit and current maturities of long-term debt | $781 | $4,682 |
| Current portion of finance lease obligations | 1,093 | 1,114 |
| Current portion of operating lease obligations | 1,876 | 2,306 |
| Accounts payable | 11,087 | 7,727 |
| Accrued liabilities | 3,249 | 1,768 |
| Customer deposits | 1,201 | 1,144 |
| Current liabilities - discontinued operations | 8,990 | 12,943 |
| Total current liabilities | 28,277 | 31,684 |
| LONG-TERM LIABILITIES: | ||
| Long-term debt, net of current maturities | 2,522 | 4,331 |
| Long-term finance lease obligations, net of current portion | 1,937 | 2,482 |
| Long-term operating lease obligations, net of current portion | 13,629 | 11,252 |
| Other | - | 4 |
| Long-term liabilities - discontinued operations | - | 763 |
| Total long-term liabilities | 18,088 | 18,832 |
| COMMITMENTS AND CONTINGENCIES | ||
| STOCKHOLDERS' EQUITY: | ||
| Preferred stock, $0.001 par value; 10,000,000 shares authorized; no shares issuedor outstanding | - | - |
| Common stock, $0.001 par value; 45,000,000 shares authorized; 23,931,310and 23,584,677 shares issued as of June 30, 2026 andDecember 31, 2025, respectively | 24 | 24 |
| Treasury stock, at cost, 273,937 shares as of June 30, 2026 and December 31, 2025,respectively | (1,842) | (1,842) |
| Additional paid-in capital | 403,863 | 403,210 |
| Accumulated deficit | (336,237) | (335,103) |
| Total stockholders' equity | 65,808 | 66,289 |
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $112,173 | $116,805 |
| BROADWIND, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(IN THOUSANDS, EXCEPT PER SHARE DATA)(UNAUDITED) | ||||
|---|---|---|---|---|
| Three Months Ended June 30, | Six Months Ended June 30, | |||
| 2026 | 2025 | 2026 | 2025 | |
| Revenues | $24,303 | $14,520 | $42,249 | $29,392 |
| Cost of sales | 20,507 | 13,516 | 35,732 | 26,964 |
| Gross profit | 3,796 | 1,004 | 6,517 | 2,428 |
| OPERATING EXPENSES: | ||||
| Selling, general and administrative | 3,943 | 3,219 | 7,624 | 6,320 |
| Intangible amortization | 100 | 166 | 222 | 331 |
| Total operating expense, net | 4,043 | 3,385 | 7,846 | 6,651 |
| Operating loss | (247) | (2,381) | (1,329) | (4,223) |
| OTHER EXPENSE, net: | ||||
| Interest expense, net | (418) | (591) | (880) | (976) |
| Other, net | 5 | (8) | 4 | (10) |
| Total other expense, net | (413) | (599) | (876) | (986) |
| Net loss before provision for income taxes | (660) | (2,980) | (2,205) | (5,209) |
| Provision for income taxes | 24 | 2 | 76 | 17 |
| LOSS FROM CONTINUING OPERATIONS | (684) | (2,982) | (2,281) | (5,226) |
| INCOME FROM DISCONTINUED OPERATIONS,NET OF TAX | 45 | 1,993 | 1,147 | 3,867 |
| NET LOSS | $(639) | $(989) | $(1,134) | $(1,359) |
| NET (LOSS) INCOME PER COMMON SHARE -BASIC AND DILUTED: | ||||
| Loss from continuing operations | $(0.03) | $(0.13) | $(0.10) | $(0.23) |
| Income from discontinued operations | 0.00 | 0.09 | 0.05 | 0.17 |
| Net loss | $(0.03) | $(0.04) | $(0.05) | $(0.06) |
| WEIGHTED AVERAGE COMMON SHARES OUTSTANDING -BASIC AND DILUTED | 23,494 | 22,773 | 23,416 | 22,568 |
| BROADWIND, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(IN THOUSANDS)(UNAUDITED) | ||
|---|---|---|
| Six Months Ended June 30, | ||
| 2026 | 2025 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net loss | $(1,134) | $(1,359) |
| Income from discontinued operations | 1,147 | 3,867 |
| Loss from continuing operations | (2,281) | (5,226) |
| Adjustments to reconcile net cash used in operating activities: | ||
| Depreciation and amortization expense | 1,516 | 1,467 |
| Deferred income taxes | 21 | (9) |
| Stock-based compensation | 452 | 546 |
| Allowance for credit losses | (13) | (16) |
| Common stock issued under defined contribution 401(k) plan | 410 | 622 |
| Gain on sale of assets | (80) | (1) |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (5,780) | (345) |
| Inventories | (57) | (1,558) |
| Prepaid expenses and other current assets | 514 | 464 |
| Accounts payable | 3,168 | 1,867 |
| Accrued liabilities | 1,481 | (44) |
| Customer deposits | 57 | (1,288) |
| Other non-current assets and liabilities | (279) | 5 |
| Net cash used in operating activities | (871) | (3,516) |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Purchases of property and equipment | (3,232) | (431) |
| Net proceeds from disposals of property and equipment | 90 | 1 |
| Net cash used in investing activities | (3,142) | (430) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| (Payments on) proceeds from line of credit, net | (3,881) | 17,634 |
| Payments on long-term debt | (1,809) | (561) |
| Payments for deferred financing costs | (20) | - |
| Payments on finance leases | (566) | (544) |
| Shares withheld for taxes in connection with issuance of restricted stock | (209) | (256) |
| Net cash (used in) provided by financing activities | (6,485) | 16,273 |
| CASH FLOWS FROM DISCONTINUED OPERATIONS: | ||
| Net cash provided by (used in) operating cash flows | 9,223 | (16,982) |
| Net cash provided by (used in) investing cash flows | 17,015 | (1,685) |
| Net cash provided by (used in) financing cash flows | 846 | (343) |
| Net cash provided by (used in) discontinued operations (1) | 27,084 | (19,010) |
| Add: Cash balance of discontinued operations, beginning of period | - | (2) |
| Less: Cash balance of discontinued operations, end of period | - | (342) |
| NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 16,586 | (6,343) |
| CASH AND CASH EQUIVALENTS beginning of the period | 457 | 7,722 |
| CASH AND CASH EQUIVALENTS end of the period | $17,043 | $1,379 |
| (1) Does not include intercompany financing of $4 and $441 for the six months ended June 30, 2026 and 2025, respectively. | ||
| BROADWIND, INC. AND SUBSIDIARIESSELECTED SEGMENT FINANCIAL INFORMATION(IN THOUSANDS)(UNAUDITED) | ||||
|---|---|---|---|---|
| Three Months Ended · Six Months Ended | ||||
| June 30, | June 30, | |||
| 2026 | 2025 | 2026 | 2025 | |
| ORDERS: | ||||
| Gearing | $16,152 | $6,799 | $29,339 | $14,759 |
| Industrial Solutions | 17,248 | 13,909 | 31,816 | 24,013 |
| Corporate and Other | 1,840 | 283 | 2,134 | 578 |
| Total orders | $35,240 | $20,991 | $63,289 | $39,350 |
| REVENUES: | ||||
| Gearing | $9,045 | $7,284 | $17,499 | $13,251 |
| Industrial Solutions | 13,172 | 7,363 | 22,408 | 13,010 |
| Corporate and Other | 2,086 | 274 | 2,342 | 3,555 |
| Eliminations | - | (401) | - | (424) |
| Total revenues | $24,303 | $14,520 | $42,249 | $29,392 |
| OPERATING (LOSS)/INCOME: | ||||
| Gearing | (224) | (819) | (280) | (1,711) |
| Industrial Solutions | 2,339 | 486 | 3,965 | 816 |
| Corporate and Other | (2,362) | (2,048) | (5,014) | (3,328) |
| Total operating loss | $(247) | $(2,381) | $(1,329) | $(4,223) |
| BROADWIND, INC. AND SUBSIDIARIESRECONCILIATION OF NON-GAAP FINANCIAL MEASURES(IN THOUSANDS)(UNAUDITED) | ||||
|---|---|---|---|---|
| Consolidated | Three Months Ended June 30, | Six Months Ended June 30, | ||
| 2026 | 2025 | 2026 | 2025 | |
| Loss From Continuing Operations | $(684) | $(2,982) | $(2,281) | $(5,226) |
| Interest Expense | 418 | 591 | 880 | 976 |
| Income Tax Provision | 24 | 2 | 76 | 17 |
| Depreciation and Amortization | 775 | 732 | 1,516 | 1,467 |
| Share-based Compensation and Other Stock Payments | 401 | 454 | 668 | 764 |
| Transaction Costs | 616 | 83 | 735 | 83 |
| Adjusted EBITDA (Non-GAAP) | $1,550 | $(1,120) | $1,594 | $(1,919) |
| Gearing | Three Months Ended June 30, | Six Months Ended June 30, | ||
|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | |
| Loss From Continuing Operations | $(287) | $(878) | $(400) | $(1,839) |
| Interest Expense | 47 | 58 | 96 | 121 |
| Income Tax Provision | 16 | 1 | 23 | 7 |
| Depreciation and Amortization | 530 | 550 | 1,059 | 1,099 |
| Share-based Compensation and Other Stock Payments | 109 | 123 | 194 | 221 |
| Adjusted EBITDA (Non-GAAP) | $415 | $(146) | $972 | $(391) |
| Industrial Solutions | Three Months Ended June 30, | Six Months Ended June 30, | ||
|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | |
| Income From Continuing Operations | $2,000 | $319 | $3,397 | $516 |
| Interest Expense | 260 | 135 | 432 | 249 |
| Income Tax Provision | 71 | 23 | 127 | 35 |
| Depreciation and Amortization | 79 | 114 | 175 | 228 |
| Share-based Compensation and Other Stock Payments | 74 | 81 | 121 | 135 |
| Adjusted EBITDA (Non-GAAP) | $2,484 | $672 | $4,252 | $1,163 |
| Corporate and Other | Three Months Ended June 30, | Six Months Ended June 30, | ||
|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | |
| Loss From Continuing Operations | $(2,397) | $(2,423) | $(5,278) | $(3,903) |
| Interest Expense | 111 | 398 | 352 | 606 |
| Income Tax Expense | (63) | (22) | (74) | (25) |
| Depreciation and Amortization | 166 | 68 | 282 | 140 |
| Share-based Compensation and Other Stock Payments | 218 | 250 | 353 | 408 |
| Transaction Costs | 616 | 83 | 735 | 83 |
| Adjusted EBITDA (Non-GAAP) | $(1,349) | $(1,646) | $(3,630) | $(2,691) |
IR CONTACT
Noel Ryan or Brian Hawthorne
BWEN@val-adv.com
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.