BROADWIND, INC.

Listed Company

BWENCIK 0001120370NasdaqNon-AcceleratedSmaller ReportingNonferrous Foundries (Castings)DelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$5.24M

Total Assets

$116.81M

Equity

$66.29M

Shares Out

23.31M

Op. Cash Flow

$-15.38M

Business

BROADWIND, INC. is a precision manufacturer of structures, equipment and components for clean‑technology and other specialized industrial applications, serving customers with complex systems and strict quality requirements. It produces wind towers, adapters, pressure vessels and mining components, loose gearing, gearboxes, precision machined parts, gearbox repair and supply‑chain kitting and assembly services. Operations are organized into three segments—Heavy Fabrications, Gearing, and Industrial Solutions—that provide manufacturing, engineering and aftermarket services. Broadwind serves U.S. energy, mining, infrastructure, oil and gas and gas‑turbine markets via direct sales, independent agents and a global supply chain.

Summary from filing dated 2025-03-05

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenues	158	143	203	177	146
Cost of sales	142	122	171	166	140
Gross profit	16	21	33	11	6
Selling, general and administrative	15	16	21	17	17
Gain on sale of Manitowoc industrial fabrication operations	−8	0	—	—	—
Intangible amortization	661,000	661,000	664,000	725,000	733,000
Total operating expense, net	7	17	21	17	18
Operating income	9	4	11	−7	−13
Interest expense, net	−3	−3	−3	−3	−1
Other, net	64,000	79,000	−48,000	130,000	7
Total other expense, net	−3	−3	−3	−3	15
Net income before provision for income taxes	5	1	8	−10	3
Provision for income taxes	87,000	74,000	241,000	35,000	25,000
NET INCOME	5	1	8	−10	3
Net income (in dollars per share)	0.23	0.05	0.36	−0.48	0.15
WEIGHTED AVERAGE COMMON SHARES OUTSTANDINGBASIC (in shares)	23	22	21	20	19
Net income (in dollars per share)	0.23	0.05	0.36	−0.48	0.15
WEIGHTED AVERAGE COMMON SHARES OUTSTANDINGDILUTED (in shares)	23	22	21	20	19

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash	456,000	8	1	13	852,000
Accounts receivable, net	16	13	19	17	14
AMP credit receivable	3	3	7	0	—
Contract assets	900,000	836,000	1	2	1
Inventories	42	40	37	44	33
Prepaid expenses and other current assets	3	2	4	3	3
Total current assets	64	67	70	79	52
Property and equipment, net	39	46	47	45	44
Operating lease right-of-use assets	12	14	16	16	18
Intangible assets, net	741,000	1	2	3	3
Other assets	441,000	606,000	630,000	839,000	585,000
TOTAL ASSETS	117	128	135	145	118
Line of credit and current maturities of long-term debt	5	1	6	1	7
Current portion of finance lease obligations	2	2	2	2	2
Current portion of operating lease obligations	2	2	2	2	2
Accounts payable	17	16	21	26	16
Accrued liabilities	2	4	6	4	4
Customer deposits	3	18	17	35	12
Total current liabilities	32	44	54	70	43
Long-term debt, net of current maturities	5	8	6	7	177,000
Long-term finance lease obligations, net of current portion	2	4	3	4	2
Long-term operating lease obligations, net of current portion	11	14	16	17	18
Other	4,000	15,000	15,000	26,000	167,000
Total long-term liabilities	19	25	26	28	21
COMMITMENTS AND CONTINGENCIES	—	—	—	—	—
Preferred stock, $0.001 par value; 10,000,000 shares authorized; no shares issued or outstanding	0	0	0	0	0
Common stock, $0.001 par value; 45,000,000 shares authorized; 23,584,677 and 22,593,589 shares issued as of December 31, 2025, and December 31, 2024, respectively	24,000	23,000	22,000	21,000	20,000
Treasury stock, at cost, 273,937 shares as of December 31, 2025 and December 31, 2024	−2	−2	−2	−2	−2
Additional paid-in capital	403	402	399	397	395
Accumulated deficit	−335	−340	−341	−349	−339
Total stockholders equity	66	59	56	46	54
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	117	128	135	145	118

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization expense	6	7	6	6	6
Deferred income taxes	−10,000	0	−10,000	−13,000	−2,000
Stock-based compensation	638,000	1	877,000	944,000	2
Allowance for credit losses	103,000	−5,000	82,000	−30,000	−426,000
Common stock issued under defined contribution 401(k) plan	1	1	1	1	1
Gain on sale of assets	−8	−114,000	42,000	3,000	−33,000
Accounts receivable	−2	6	−2	−3	2
AMP credit receivable	−31,000	5	−7	0	—
Contract assets	−64,000	624,000	495,000	−820,000	1
Inventories	−2	−3	7	−11	−7
Prepaid expenses and other current assets	−259,000	1	−210,000	−629,000	133,000
Accounts payable	1	−4	−6	10	−2
Accrued liabilities	−1	−3	3	686,000	−3
Customer deposits	−15	2	−18	22	−7
Other non-current assets and liabilities	−2,000	−48,000	175,000	135,000	−66,000
Net cash (used in) provided by operating activities	−15	14	−7	17	−13
Purchases of property and equipment	−4	−4	−6	−3	−2
Net proceeds from sale of Manitowoc industrial fabrication operations	13	0	—	—	—
Net proceeds from disposals of property and equipment	0	159,000	21,000	0	33,000
Net cash provided by (used in) investing activities	9	−3	−6	−3	−2
Proceeds from (payments on) line of credit, net	4	−5	5	−6	5
Payments for deferred financing costs	0	−20,000	−48,000	−452,000	0
Proceeds from long-term debt	0	4	1	8	817,000
Payments on long-term debt	−3	−1	−2	−863,000	−161,000
Principal payments on finance leases	−1	−2	−1	−2	−2
Shares withheld for taxes in connection with issuance of restricted stock	−256,000	−130,000	−735,000	−549,000	−1
Net cash used in financing activities	−772,000	−4	2	−2	12
NET (DECREASE) INCREASE IN CASH	−7	7	−12	12	−3
Interest paid	1	2	2	2	741,000
Income taxes paid	164,000	192,000	17,000	23,000	102,000
Equipment additions via finance lease	0	1	719,000	4	3
Non-cash purchases of property and equipment	80,000	257,000	482,000	134,000	18,000

Filings

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