HELIOS TECHNOLOGIES, INC.
For the period ended Jun 15, 2026. Filed May 4, 2026.
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Jun 15, 2026 · Filed May 4, 2026
Contents
APPENDIX A
NON-GAAP RECONCILIATIONS
| Non-GAAP Adjusted Net Income Reconciliation | Year Ended Jan 3, 2026 | Per Diluted Share* |
|---|---|---|
| GAAP net income | $48.4 | $1.45 |
| Acquisition, divestiture, and financing-related expenses1 | 1.7 | 0.05 |
| Restructuring charges2 | 1.6 | 0.05 |
| Officer transition costs | 1.4 | 0.04 |
| Goodwill Impairment | 25.9 | 0.78 |
| (Gain) on sale of business, Net of CTA loss | (18.8) | (0.56) |
| Amortization of intangible assets3 | 34.0 | 1.02 |
| Forward contract losses | 0.5 | 0.01 |
| Other | 0.9 | 0.03 |
| Tax effect of above | (10.4) | (0.31) |
| Non-GAAP adjusted net income* | $85.3 | $2.56 |
| Non-GAAP adjusted net income per diluted share* | $2.56 |
| Non-GAAP Adjusted EBITDA Reconciliation | Year Ended Jan 3, 2026 | Margin |
|---|---|---|
| GAAP net income | $48.4 | 5.8% |
| Interest expense, net | 21.9 | 2.6% |
| Income tax provision | 14.0 | 1.7% |
| Depreciation and amortization | 63.0 | 7.5% |
| EBITDA* | 147.3 | 17.6% |
| Acquisition, divestiture, and financing-related expenses1 | 1.7 | 0.2% |
| Restructuring charges2 | 1.6 | 0.2% |
| Officer transition costs | 1.4 | 0.2% |
| Goodwill Impairment | 25.9 | 3.1% |
| (Gain) on sale of business - Net of CTA loss | (18.8) | -2.2% |
| Forward contract losses | 0.5 | 0.1% |
| Other | 1.1 | 0.1% |
| Adjusted EBITDA* | $160.7 | 19.2% |
| EBITDA margin* | 17.6% | |
| Adjusted EBITDA margin* | 19.2% |
| Non-GAAP Adjusted Free Cash Flow Reconciliation | Year Ended Jan 3, 2026 |
|---|---|
| Net cash provided by operating activities | $127.3 |
| Less: capital expenditures | 23.7 |
| Non-GAAP adjusted free cash flow* | $103.6 |
| Net Debt-to-Non-GAAP Adjusted EBITDA Leverage Ratio Reconciliation | As ofJan 3, 2026 |
|---|---|
| Current portion of long-term non-revolving debt, net | 5.4 |
| Revolving lines of credit | 105.5 |
| Long-term non-revolving debt, net | 256.2 |
| Total debt | 367.1 |
| Less: cash and cash equivalents | 73.0 |
| Net debt | 294.1 |
| TTM adjusted EBITDA | 160.7 |
| Ratio of net debt to TTM adjusted EBITDA* | 1.8 |
| * | Adjusted numbers are not measures determined in accordance with generally accepted accounting principles (“GAAP”) in the United States, commonly known as GAAP. Nevertheless, Helios believes that providing these specific non-GAAP figures are important for investors and other readers of Helios financial statements, as they are used as analytical indicators by Helios management to better understand operating performance. These Non-GAAP financial measures should be considered in addition to results prepared in accordance with GAAP and should not be considered a substitute for GAAP. Please carefully review the Non-GAAP reconciliations to the most |
|---|
71 | 2026 Proxy Statement
Appendix B
directly comparable GAAP measures and the related additional information provided throughout. Because these metrics are non-GAAP measures and are thus susceptible to varying calculations, these figures, as presented, may not be directly comparable to other similarly titled measures used by other companies.
Acquisition, divestiture and financing-related expenses include costs associated with our M&A activities. We believe these costs are not representative of the Company's operational performance and it is therefore more meaningful to analyze results with the costs excluded. For the twelve months ended January 3, 2026, the charges include $1.7 of other miscellaneous M&A costs
Restructuring activities include activities within our Hydraulics segment related to the creation of our two new Regional Operational Centers of Excellence ("CoE") which are now complete. We also continue to add capabilities and activities to our recently expanded Tijuana, Mexico facility to support our Electronics segment. Initial efforts have focused on circuit board assembly and wire harness production. The initial phase of the restructuring activities to better optimize our European regional operations is complete. This included transitioning some manufacturing of manifolds and integrated package assembly to our Roncolo, Italy location. To create capacity in Roncolo, we moved some turning and lathing operations from Roncolo to our Rivolta, Italy location. These activities included transferring equipment and operations between facilities. Additional phases of this project are currently paused, we continue to evaluate plans for restructuring activities to optimizing operations in the European Region. In January 2025, the Company began restructuring the Helios Center of Engineering Excellence (“HCEE”). Consistent with the Company's previously announced restructuring plan, during the end of the second quarter 2025, management ceased operations at the San Antonio office and reassigned resources to the operations at our other major facilities across the business, and eliminated certain positions. As a result of this planned change in the HCEE business operations, the workforce intangible asset associated with the HCEE acquisition was reviewed by management and it was determined that the remaining net book value of the asset should be accelerated and amortized over a useful life ending June 2025.
Amortization of intangible assets presented here includes $1.9 million for capitalized software development costs included within cost of sales in the income statement for the twelve months ended January 3, 2026.
General note: items may not sum or recalculate due to rounding.
| 72 | 2025 Proxy Statement |
Appendix B
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.