Cadre Holdings, Inc 8-K, filed Nov 4, 2026

Cadre Holdings, Inc. (CDRE)

8-K 2026-11-04 For: 2026-11-04

View Original

Added on November 04, 2026

About this 8-K

Cadre Holdings, Inc filed this 8-K on November 4, 2026.

Items reported

Item 2.02: Financial results
Item 9.01: Financial statements and exhibits

Search and read filings like this one from Claude or ChatGPT with the SEC filings MCP server →


Delaware	001-40698	38-3873146
(State or other jurisdiction	(Commission File Number)	(IRS Employer
of incorporation)		Identification Number)


13386 International Pkwy	32218
Jacksonville, Florida	(Zip Code)
(Address of principal executive offices)


Title of each class	Trading Symbol	Name of each exchange on which registered
Common Stock, par value $0.0001	CDRE	New York Stock Exchange


Exhibit		Description

99.1		Press Release, dated November 4, 2026 (furnished only).
99.2		Slide Presentation for Conference Call to be held on November 5, 2026 (furnished only).
104		Cover Page Interactive Data File (embedded within the Inline XBRL document).


	CADRE HOLDINGS, INC.


	By:	/s/ Blaine Browers
		Name:Blaine Browers
		Title:Chief Financial Officer


	September 30, 2026			December 31, 2025
Assets
Current assets
Cash and cash equivalents	$	63,916		$	122,898
Restricted cash		3,796			2,429
Accounts receivable, net of allowance for doubtful accounts of $383 and $273, respectively		127,082			110,607
Inventories		126,668			100,263
Prepaid expenses		14,700			14,574
Other current assets		19,938			15,095
Total current assets		356,100			365,866
Property and equipment, net of accumulated depreciation and amortization of $76,989 and $63,125, respectively		125,000			78,822
Operating lease assets		24,517			19,778
Deferred tax assets, net		4,875			4,816
Intangible assets, net		170,899			114,984
Goodwill		233,728			181,406
Other assets		7,575			4,359
Total assets	$	922,694		$	770,031

Liabilities, Mezzanine Equity and Shareholders' Equity
Current liabilities
Accounts payable	$	35,365		$	22,325
Accrued liabilities		89,832			61,066
Income tax payable		6,239			4,838
Current portion of long-term debt		20,011			16,266
Total current liabilities		151,447			104,495
Long-term debt		349,467			290,987
Long-term operating lease liabilities		18,109			15,039
Deferred tax liabilities		29,432			30,058
Other liabilities		7,457			11,648
Total liabilities		555,912			452,227

Mezzanine equity
Preferred stock ($0.0001 par value, 10,000,000 shares authorized, no shares issued and outstanding as of September 30, 2026 and December 31, 2025)		—			—

Shareholders' equity
Common stock ($0.0001 par value, 190,000,000 shares authorized, 42,919,029 and 42,160,656 shares issued and outstanding as of September 30, 2026 and December 31, 2025, respectively)		4			4
Additional paid-in capital		316,619			282,570
Accumulated other comprehensive (loss) income		(1,134)			460
Accumulated earnings		51,293			34,770
Total shareholders’ equity		366,782			317,804
Total liabilities, mezzanine equity and shareholders' equity	$	922,694		$	770,031


		Three Months Ended September 30,						Nine Months Ended September 30,
		2026			2025			2026			2025
Net sales		$	202,876		$	155,869		$	565,431		$	443,084
Cost of goods sold			114,785			89,244			330,039			256,079
Gross profit			88,091			66,625			235,392			187,005
Operating expenses
Selling, general and administrative			58,877			45,627			170,930			132,509
Restructuring and transaction costs			863			2,216			4,158			6,240
Related party expense			—			108			2,000			1,345
Total operating expenses			59,740			47,951			177,088			140,094
Operating income			28,351			18,674			58,304			46,911
Other expense
Interest expense, net			(5,405)			(3,028)			(14,695)			(8,849)
Other income (expense), net			984			(802)			66			6,599
Total other expense, net			(4,421)			(3,830)			(14,629)			(2,250)
Income before provision for income taxes			23,930			14,844			43,675			44,661
Provision for income taxes			(7,945)			(3,903)			(14,308)			(12,261)
Net income		$	15,985		$	10,941		$	29,367		$	32,400

Net income per share:
Basic		$	0.37		$	0.27		$	0.69		$	0.80
Diluted		$	0.37		$	0.27		$	0.68		$	0.79
Weighted average shares outstanding:
Basic			42,867,048			40,666,861			42,746,081			40,649,339
Diluted			43,468,634			40,977,677			43,410,498			40,964,737


	Three Months Ended September 30, 2026
					Reconciling
	Product		Distribution		Items⁽¹⁾		Total
Net sales	$	188,748	$	23,633	$	(9,505)	$	202,876
Cost of goods sold		106,179		18,111		(9,505)		114,785
Gross profit	$	82,569	$	5,522	$	—	$	88,091


	Three Months Ended September 30, 2025
					Reconciling
	Product		Distribution		Items⁽¹⁾		Total
Net sales	$	138,789	$	26,483	$	(9,403)	$	155,869
Cost of goods sold		77,862		20,843		(9,461)		89,244
Gross profit	$	60,927	$	5,640	$	58	$	66,625


	Nine Months Ended September 30, 2026
					Reconciling
	Product		Distribution		Items⁽¹⁾		Total
Net sales	$	519,426	$	71,032	$	(25,027)	$	565,431
Cost of goods sold		299,711		55,355		(25,027)		330,039
Gross profit	$	219,715	$	15,677	$	—	$	235,392


	Nine Months Ended September 30, 2025
					Reconciling
	Product		Distribution		Items⁽¹⁾		Total
Net sales	$	391,659	$	79,853	$	(28,428)	$	443,084
Cost of goods sold		222,189		62,293		(28,403)		256,079
Gross profit	$	169,470	$	17,560	$	(25)	$	187,005


	Year ended			Three Months Ended						Nine Months Ended						Last Twelve
	December 31,			September 30,						September 30,						Months
	2025			2026			2025			2026			2025			September 30, 2026
Net income	$	44,139		$	15,985		$	10,941		$	29,367		$	32,400		$	41,106
Add back:
Depreciation and amortization		18,633			6,436			5,376			18,335			13,908			23,060
Interest expense, net		12,480			5,405			3,028			14,695			8,849			18,326
Provision for income taxes		18,187			7,945			3,903			14,308			12,261			20,234
EBITDA	$	93,439		$	35,771		$	23,248		$	76,705		$	67,418		$	102,726
Add back:
Restructuring and transaction costs⁽¹⁾		8,696			863			2,216			6,158			7,240			7,614
Other (income) expense, net⁽²⁾		(7,455)			(984)			802			(66)			(6,599)			(922)
Stock-based compensation expense⁽³⁾		12,239			5,066			2,447			9,952			6,840			15,351
Stock-based compensation payroll tax expense⁽⁴⁾		1,566			16			—			146			92			1,620
Amortization of inventory step-up⁽⁵⁾		1,296			155			470			5,076			826			5,546
Contingent consideration expense⁽⁶⁾		1,927			185			632			6,051			1,489			6,489
Impairment expense⁽⁷⁾		—			—			—			148			—			148
Adjusted EBITDA	$	111,708		$	41,072		$	29,815		$	104,170		$	77,306		$	138,572
Adjusted EBITDA margin⁽⁸⁾		18.5	%		20.2	%		19.1	%		18.4	%		17.4	%


		Nine Months Ended September 30,
		2026			2025
Cash Flows From Operating Activities:
Net income		$	29,367		$	32,400
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization			18,335			13,908
Amortization of original issue discount and debt issue costs			664			1,075
Amortization of inventory step-up			5,076			826
Deferred income taxes			(1,312)			(4,163)
Stock-based compensation			9,952			6,840
Remeasurement of contingent consideration			6,051			1,489
Recoveries from accounts receivable			(171)			(190)
Unrealized foreign exchange transaction loss (gain)			273			(2,275)
Other loss			971			268
Changes in operating assets and liabilities, net of impact of acquisitions:
Accounts receivable			(6,235)			19,360
Inventories			(6,322)			(14,748)
Prepaid expenses and other assets			(3,847)			4,607
Accounts payable and other liabilities			14,783			(16,942)
Net cash provided by operating activities			67,585			42,455
Cash Flows From Investing Activities:
Purchase of property and equipment			(9,204)			(3,582)
Proceeds from disposition of property and equipment			—			6
Business acquisitions, net of cash acquired			(164,769)			(89,590)
Other			(650)			—
Net cash used in investing activities			(174,623)			(93,166)
Cash Flows From Financing Activities:
Proceeds from revolving credit facilities			82,500			—
Payments on revolving credit facilities			(82,500)			—
Proceeds from term loans			75,000			97,500
Principal payments on term loans			(13,101)			(9,723)
Taxes paid in connection with employee stock transactions			(1,262)			(1,185)
Proceeds from exercise of stock options			2,157			—
Dividends distributed			(12,844)			(11,584)
Other			176			344
Net cash provided by financing activities			50,126			75,352
Effect of foreign exchange rates on cash, cash equivalents and restricted cash			(703)			1,301
Change in cash, cash equivalents and restricted cash			(57,615)			25,942
Cash, cash equivalents and restricted cash, beginning of period			125,327			124,933