Titan Machinery Inc.

Balance Sheet and Cash Flow

Cash at the end of the second quarter of fiscal 2027 was $29.5 million. Total inventories increased by $28.4 million to $931.5 million as of second quarter end, as compared to January 31, 2026. Equipment inventories increased by $21.7 million to $746.9 million as of second quarter end, as compared to January 31, 2026. Outstanding floorplan payables were $623.6 million on $1.5 billion total available floorplan and working capital lines of credit as of July 31, 2026, compared to $553.8 million outstanding floorplan payables as of January 31, 2026.

For the six months ended July 31, 2026, the Company's net cash used for operating activities was $25.1 million, compared to net cash provided by operating activities of $49.9 million for the six months ended July 31, 2025. The change in cash from operating activities was primarily attributable to timing of inventory receipts and changing mix in floorplan financing, which was partially offset by receivable collections compared to the prior year period.