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LAKELAND INDUSTRIES INC
LAKECIK 0000798081NasdaqAcceleratedSmaller ReportingOrthopedic, Prosthetic & Surgical Appliances & SuppliesDelawareFY ends Jan 31
Period
FY 2026
Revenue
$192.65M
Net Income
$-25.31M
Total Assets
$209.93M
Equity
$129.13M
Shares Out
9.84M
Op. Cash Flow
$-15.75M
Business
LAKELAND INDUSTRIES INC provides safety products that protect workers, first responders, and communities in critical situations. The company designs, manufactures, and sells firefighter protective apparel and accessories, high-end chemical protective suits, limited-use/disposable protective clothing, durable woven garments, high-performance FR/AR apparel, high-visibility clothing, footwear and helmets. Lakeland reports revenue through seven geographic segments and emphasizes owned manufacturing facilities and strategic acquisitions. It distributes products domestically via a field sales force and vertical sales groups and internationally through distributors and sales representatives in more than 50 countries.
Summary from filing dated 2025-04-17
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2026 2026-01-31 | FY 2025 2025-01-31 | FY 2024 2024-04-30 | FY 2024 2024-01-31 | FY 2023 2023-04-30 |
|---|---|---|---|---|---|---|
| Net sales | 193 | 167 | 6 | 125 | 6 | |
| Cost of goods sold | 129 | 99 | — | 73 | — | |
| Gross profit | 63 | 69 | — | 51 | — | |
| Operating expenses | 77 | 67 | — | 45 | — | |
| Goodwill impairment | 3 | 11 | — | — | — | |
| Gain on sale-leaseback | −4 | — | — | — | — | |
| Lease impairments | 4 | — | — | — | — | |
| Operating loss | −16 | −9 | — | 6 | — | |
| Impairment of equity method investment | — | −8 | — | 0 | — | |
| Other (expense) income, net | −40,000 | 198,000 | — | 3 | — | |
| Interest expense | −2 | −2 | — | −52,000 | — | |
| Loss before income tax expense (benefit) | −18 | −18 | — | 9 | — | |
| Income tax expense (benefit) | 8 | −281,000 | — | 4 | — | |
| Net loss | −25 | −18 | — | 5 | — | |
| Basic (per share) | −2.63 | −2.43 | — | 0.74 | — | |
| Diluted (per share) | −2.63 | −2.43 | — | 0.72 | — | |
| Basic (shares) | 10 | 7 | — | 7,352 | — | |
| Diluted (shares) | 10 | 7 | — | 7,540 | — |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2026 2026-01-31 | FY 2025 2025-01-31 | FY 2024 2024-01-31 | FY 2023 2023-01-31 | FY 2022 2022-01-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 13 | 17 | 25 | 25 | — | |
| Accounts receivable, net of allowance for doubtful accounts of $1,064 and $1,237 at January 31, 2026 and 2025, respectively | 32 | 28 | 19 | 17 | 15 | |
| Inventories | 83 | 83 | 51 | 58 | 48 | |
| Prepaid VAT and other taxes | 2 | 3 | 3 | 2 | 2 | |
| Income tax receivable and other current assets | 5 | 6 | 3 | — | — | |
| Total current assets | 134 | 137 | 102 | 106 | 121 | |
| Property and equipment, net | 12 | 14 | 11 | 9 | 9 | |
| Operating leases right-of-use assets | 11 | 14 | 11 | 5 | 5 | |
| Deferred tax assets | 1 | 6 | 3 | 3 | — | |
| Goodwill | 15 | 16 | 14 | 8 | — | |
| Intangible assets, net | 32 | 26 | 7 | 6 | — | |
| Other assets | 5 | 122,000 | 110,000 | 100,000 | 490,000 | |
| Total assets | 210 | 213 | 154 | 143 | 141 | |
| Accounts payable | 16 | 16 | 7 | 7 | 6 | |
| Accrued compensation and benefits | 5 | 5 | 4 | 3 | 3 | |
| Other accrued expenses | 9 | 8 | 2 | 4 | 1 | |
| Income tax payable | 2 | 2 | 1 | 609,000 | 321,000 | |
| Current portion of long-term debt | 2 | 939,000 | — | — | 0 | |
| Current portion of operating lease liabilities | 5 | 4 | 2 | 1 | 1 | |
| Total current liabilities | 38 | 35 | 18 | 19 | 12 | |
| Deferred income taxes | 2 | 4 | 2 | 769,000 | 0 | |
| Long-term debt | 30 | 16 | — | — | — | |
| Long-term portion of operating lease liabilities | 10 | 11 | 9 | 4 | 4 | |
| Total liabilities | 81 | 66 | 30 | 23 | 16 | |
| Commitments and contingencies (Footnote 12) | — | — | — | — | — | |
| Preferred stock, $0.01 par; authorized 1,500,000 shares (none issued) | 0 | 0 | 0 | 0 | 0 | |
| Common stock, $0.01 par; authorized 20,000,000 shares issued 11,164,336 and 10,856,812; outstanding 9,806,128 and 9,498,604 at January 31, 2026 and 2025, respectively | 112,000 | 109,000 | 87,000 | 87,000 | 86,000 | |
| Treasury stock, at cost; 1,358,208 shares at January 31, 2026 and 2025 | −20 | −20 | −20 | −20 | 14 | |
| Additional paid-in capital | 129 | 123 | 79 | 78 | 78 | |
| Retained earnings | 24 | 50 | 69 | 65 | 63 | |
| Accumulated other comprehensive loss | −4 | −7 | −5 | −4 | −1 | |
| Total stockholders' equity | 129 | 147 | 123 | 120 | 125 | |
| Total liabilities and stockholders' equity | 210 | 213 | 154 | 143 | 141 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2026 2026-01-31 | FY 2025 2025-01-31 | FY 2024 2024-01-31 | FY 2023 2023-01-31 | FY 2022 2022-01-31 |
|---|---|---|---|---|---|---|
| Net loss | −25 | −18 | 5 | — | — | |
| Deferred income taxes | 3 | −4 | −818,000 | 75,000 | 659,000 | |
| Depreciation and amortization | 5 | 3 | 2 | — | — | |
| Impairment of goodwill | 3 | 11 | — | — | — | |
| Amortization of step-up in inventory basis | 1 | 1 | 0 | — | — | |
| Stock based and restricted stock compensation | 3 | 2 | 1 | 1 | 2 | |
| Loss on disposal of property and equipment | 113,000 | 61,000 | −4 | −6,000 | 39,000 | |
| Equity in loss of equity method investment | 0 | 384,000 | — | — | — | |
| Change in fair value of earnout consideration | 0 | −711,000 | −3 | — | — | |
| Impairment of equity method investment | 0 | 8 | — | — | — | |
| Accounts receivable, net | −3 | −3 | −843,000 | −2 | 7 | |
| Inventories | 2 | −14 | 8 | −10 | −4 | |
| Prepaid VAT and other taxes | 170,000 | 244,000 | −789,000 | — | — | |
| Other assets | −2 | −1 | −15,000 | 1 | 271,000 | |
| Accounts payable | −1 | 6 | 417,000 | 36,000 | −2 | |
| Accrued expenses and other liabilities | −488,000 | −4 | 982,000 | 69,000 | −3 | |
| Operating lease liabilities | −181,000 | −2 | 955,000 | — | — | |
| Net cash used in operating activities | −16 | −16 | 11 | −5 | 13 | |
| Purchases of property and equipment | −671,000 | −2 | −2 | −2 | −801,000 | |
| Proceeds from sale of property and equipment | 6 | 0 | — | — | — | |
| Acquisitions, net of cash acquired | −6 | −45 | −5 | — | — | |
| Investments | 0 | −1 | −2 | — | — | |
| Net cash used in investing activities: | −1 | −48 | −5 | −15 | −4 | |
| Secondary stock offering proceeds | 0 | 43 | 0 | — | — | |
| Term loan borrowings | 2 | 3 | 0 | — | — | |
| Term loan repayments | −3 | −635,000 | — | — | — | |
| Credit line borrowings | 44 | 59 | 6 | — | — | |
| Payments on debt facilities | −29 | −46 | −1 | — | — | |
| Dividends paid | −1 | −887,000 | −908,000 | — | — | |
| Shares returned to pay employee taxes under restricted stock program | −429,000 | −446,000 | −420,000 | — | — | |
| Net cash provided by financing activities | 13 | 57 | −3 | −6 | −10 | |
| Effect of exchange rate changes on cash and cash equivalents | −532,000 | −711,000 | −2 | −2 | 727,000 | |
| Net decrease in cash and cash equivalents | −5 | −8 | 583,000 | −28 | 123,000 | |
| Cash paid for interest | 2 | 2 | 63,000 | 37,000 | 15,000 | |
| Cash paid for income taxes | 3 | 3 | 2 | 3 | 5 | |
| Stock issued for acquisition | 3 | 0 | — | — | — |
Filings
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