Elmet Group Co.
For the period ended Jul 3, 2026. Filed Aug 13, 2026.
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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.
Jul 3, 2026 · Filed Aug 13, 2026
ELMT$19.38-11.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Unaudited Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
| Six Months Ended | ||
|---|---|---|
| July 3,2026 | June 30,2025 | |
| Cash flows from operating activities: | ||
| Net (loss) income | $(4,826) | $2,437 |
| Loss from discontinued operations | — | (1,546) |
| (Loss) income from continuing operations | (4,826) | 3,983 |
| Adjustments to reconcile (loss) income from continuing operations to net cash (used in) provided by operating activities: | ||
| Deferred income taxes, net | 3,987 | — |
| Change in fair value of derivative asset | (2,214) | — |
| Depreciation and amortization | 3,779 | 3,215 |
| Stock-based compensation | 10,735 | 383 |
| Noncash operating lease expense | 469 | 440 |
| Noncash interest expense | 17 | 14 |
| Provision for excess and obsolete inventories | 33 | (1) |
| Change in fair value of interest rate collars | (56) | 51 |
| Unrealized (gain) loss on marketable securities | (1,081) | 23 |
| Change in operating assets and liabilities: | ||
| Accounts receivable | (5,588) | 7,607 |
| Unbilled revenue | 2,057 | (4,059) |
| Inventories | (32,763) | (10,780) |
| Related party receivables | 291 | — |
| Income tax receivable | (3,766) | — |
| Prepaid expenses and other current assets | (2,378) | (527) |
| Other assets | 134 | 5 |
| Accounts payable | 12,250 | 885 |
| Accrued expenses and other current liabilities | 5,004 | 4,181 |
| Operating lease liabilities | (418) | (381) |
| Related party payables | 190 | — |
| Deferred revenue | 6,570 | 3,975 |
| Other liabilities | 2 | 10 |
| Net cash (used in) provided by operating activities from continuing operations | (7,572) | 9,024 |
| Net cash used in operating activities from discontinued operations | — | (2,742) |
| Net cash (used in) provided by operating activities | (7,572) | 6,282 |
| Cash flows from investing activities: | ||
| Purchase of shares upon exercise of call option | (1,426) | — |
| Purchases of property, plant and equipment, net of grant proceeds (see Note 7 – Government Grants) | (3,141) | (4,602) |
| Net cash used in investing activities from continuing operations | (4,567) | (4,602) |
| Net cash used in investing activities from discontinued operations | — | (110) |
| Net cash used in investing activities | (4,567) | (4,712) |
| Cash flows from financing activities: | ||
| Proceeds from initial public offering, net of underwriting discount and offering costs | 125,363 | — |
| Payments of principal on revolving credit facility | (99,882) | (326) |
| Proceeds from revolving credit facility | 76,441 | 6,522 |
| Payments of principal on long-term debt | (1,783) | (4,231) |
| Payments of principal on long-term debt – related party | (17,294) | — |
| Cash distributions paid to stockholders | — | (6,833) |
| Payments of deferred consideration | (73) | — |
| Payments of contingent consideration | (49) | — |
| Employee taxes paid on shares withheld for tax-withholding purposes | (4,371) | — |
| Payments of principal on revolving credit facility – related party | (1,771) | (1,559) |
| Repurchase of Class B Common Stock | (25) | — |
| Payments of principal on finance leases | (16) | (25) |
| Net cash provided by (used in) financing activities from continuing operations | 76,540 | (6,452) |
| Net cash provided by financing activities from discontinued operations | — | 103 |
| Net cash provided by (used in) financing activities | 76,540 | (6,349) |
| Effects of exchange rate changes on cash | (38) | 42 |
| Net increase (decrease) in cash | $64,363 | $(4,737) |
| Cash at beginning of period | 1,759 | 6,532 |
| Cash at end of period | $66,122 | $1,795 |
| Reconciliation of cash at beginning of period: | ||
| Cash at beginning of period – continuing operations | $1,759 | $3,608 |
| Cash at beginning of period – discontinued operations | — | 2,924 |
| Cash at beginning of period | $1,759 | $6,532 |
| Reconciliation of cash at end of period: | ||
| Cash at end of period – continuing operations | $66,122 | $1,620 |
| Cash at end of period – discontinued operations | — | 175 |
| Cash at end of period | $66,122 | $1,795 |
| Supplemental non-cash investing and financing activities: | ||
| Purchases of property, plant and equipment included in accounts payable and accrued expenses | $684 | $280 |
| Contracted government grants not yet received | $1,273 | $— |
| Right-of-use assets obtained in exchange for new operating lease liabilities | 1,660 | — |
| Supplemental disclosure of cash flow information: | ||
| Cash paid for interest | $1,674 | $1,834 |
| Cash paid for income taxes | $700 | $— |
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