Elmet Group Co.
For the period ended Oct 2, 2026. Filed Nov 9, 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.
Oct 2, 2026 · Filed Nov 9, 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)
| Nine Months Ended | ||
|---|---|---|
| October 2,2026 | September 30,2025 | |
| Cash flows from operating activities: | ||
| Net income | $3,465 | $4,007 |
| Loss from discontinued operations | — | (2,398) |
| Income from continuing operations | 3,465 | 6,405 |
| Adjustments to reconcile income from continuing operations to net cash used in operating activities: | ||
| Deferred income taxes, net | 3,138 | — |
| Unrealized gain on fair market value of derivative | (2,214) | — |
| Unrealized loss on forward instruments | 222 | — |
| Unrealized (gain) loss on marketable securities | (2,721) | 23 |
| Depreciation and amortization | 5,704 | 4,839 |
| Stock-based compensation | 12,809 | 810 |
| Noncash operating lease expense | 739 | 693 |
| Noncash interest expense | 24 | 165 |
| Provision for excess and obsolete inventories | 2,404 | 527 |
| Provision for credit losses | 144 | 95 |
| Change in fair value of interest rate collars | (73) | 37 |
| Change in operating assets and liabilities: | ||
| Accounts receivable | (16,677) | 6,051 |
| Unbilled revenue | (896) | (5,276) |
| Inventories | (85,511) | (13,046) |
| Related party receivables | 238 | — |
| Prepaid expenses and other current assets | (4,534) | (1,151) |
| Other assets | 336 | (96) |
| Accounts payable | 4,712 | 3,352 |
| Accrued expenses and other current liabilities | 7,710 | (2,375) |
| Operating lease liabilities | (602) | (579) |
| Related party payables | 216 | — |
| Deferred revenue | 10,778 | 937 |
| Other liabilities | (138) | 11 |
| Net cash (used in) provided by operating activities from continuing operations | (60,727) | 1,422 |
| Net cash used in operating activities from discontinued operations | — | (2,817) |
| Net cash used in operating activities | (60,727) | (1,395) |
| Cash flows from investing activities: | ||
| Purchase of shares upon exercise of call option (See Note 2) | (1,426) | — |
| Purchases of property, plant and equipment, net of grant proceeds (see Note 7 – Government Grants) | (4,829) | (5,872) |
| Net cash used in investing activities from continuing operations | (6,255) | (5,872) |
| Net cash used in investing activities from discontinued operations | — | (189) |
| Net cash used in investing activities | (6,255) | (6,061) |
| Cash flows from financing activities: | ||
| Proceeds from the issuance of Class A Redeemable Preferred Stock and warrants | 200,000 | — |
| Payments of issuance costs on Class A Redeemable Preferred Stock and warrants | (6,866) | — |
| Proceeds from initial public offering, net of underwriting discount and offering costs | 125,363 | — |
| Payments of principal on revolving credit facility | (174,470) | (326) |
| Proceeds from revolving credit facility | 177,747 | 15,458 |
| Payments of principal on long-term debt | (2,399) | (5,280) |
| Payments of principal on long-term debt – related party | (17,294) | — |
| Cash distributions paid to stockholders | — | (6,833) |
| Contributions from stockholders | — | 250 |
| Payments of deferred consideration | (73) | — |
| Payments of contingent consideration | (98) | — |
| Employee taxes paid on shares withheld for tax-withholding purposes | (4,371) | — |
| Payments of principal on revolving credit facility – related party | (1,771) | (1,375) |
| Payments of principal on finance leases | (24) | (36) |
| Repurchase of Class B common stock | (25) | — |
| Net cash provided by financing activities from continuing operations | 295,719 | 1,858 |
| Net cash provided by financing activities from discontinued operations | — | 93 |
| Net cash provided by financing activities | 295,719 | 1,951 |
| Effects of exchange rate changes on cash | (72) | 98 |
| Net increase (decrease) in cash and restricted cash | $228,665 | $(5,407) |
| Cash and restricted cash at beginning of period | 1,759 | 6,532 |
| Cash and restricted cash at end of period | $230,424 | $1,125 |
| Reconciliation of cash and restricted cash at beginning of period: | ||
| Cash at beginning of period – continuing operations | $1,759 | $3,608 |
| Restricted cash at beginning of period - continuing operations | — | — |
| Cash at beginning of period – discontinued operations | — | 2,924 |
| Cash and restricted cash at beginning of period | $1,759 | $6,532 |
| Reconciliation of cash and restricted cash at end of period: | ||
| Cash at end of period – continuing operations | $105,714 | $1,114 |
| Restricted cash at end of period - continuing operations | 124,710 | — |
| Cash at end of period – discontinued operations | — | 11 |
| Cash and restricted cash at end of period | $230,424 | $1,125 |
| Supplemental non-cash investing and financing information: | ||
| Purchases of property, plant and equipment included in accounts payable and accrued expenses | $659 | $3,173 |
| Contracted government grants not yet received | $1,729 | $171 |
| Right-of-use assets obtained in exchange for new operating lease liabilities | $1,660 | $— |
| Non-cash capitalized issuance costs | $1,951 | $— |
| Issuance of TEG Warrants in exchange for a deferred asset | $9,259 | $— |
| Accrued dividends and accretion on Class A Redeemable Preferred Stock | $634 | $— |
| Supplemental disclosure of cash flow information: | ||
| Cash paid for interest | $2,146 | $2,587 |
| Cash paid for income taxes | $1,330 | $— |
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