Cadre Holdings, Inc.

Listed Company

CDRECIK 0001860543NYSEAcceleratedEmerging GrowthOrthopedic, Prosthetic & Surgical Appliances & SuppliesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$610.31M

Net Income

$44.14M

Total Assets

$770.03M

Equity

$317.80M

Shares Out

42.73M

Op. Cash Flow

$63.70M

Business

Cadre Holdings, Inc. is a global manufacturer and distributor of critical safety equipment for law enforcement, first responders, military and nuclear markets. It offers products including body armor, explosive ordnance disposal suits and robots, duty gear and holsters, nuclear safety solutions, and complementary protective and consumable items. Its operations are organized around product-focused segments such as body armor, explosive ordnance disposal (Med‑Eng), duty gear (Safariland/Radar/Bianchi) and nuclear safety (Alpha Safety/NucFil). The company serves domestic and international customers through direct sales, distributors, owned distribution, and e‑commerce channels across more than 100 countries.

Summary from filing dated 2025-03-11

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
Net sales	610	568	483	458	427
Cost of goods sold	351	334	282	282	257
Gross profit	260	233	201	176	171
Selling, general and administrative	183	158	141	153	115
Restructuring and transaction costs	8	6	2	4	3
Related party expense	1	2	1	1	579,000
Total operating expenses	192	167	144	159	119
Operating income	67	67	57	17	52
Interest expense, net	−12	−8	−5	—	—
Other income (expense), net	7	−5	936,000	−1	−947,000
Total other expense, net	−5	−13	−4	−7	−33
Income before provision for income taxes	62	54	53	9	19
Provision for income taxes	−18	−18	−14	−4	−7
Net income	44	36	39	6	13
Basic (per share)	1.08	0.9	1.03	0.16	0.44
Diluted (per share)	1.02	0.9	1.02	0.16	0.44
Basic (shares)	41	40	38	36	29
Diluted (shares)	43	40	38	36	29
Unrealized holding (losses) gains on derivative instruments, net of tax	−284,000	2	775,000	6	767,000
Reclassification adjustments for gains included in net income, net of tax	−3	−3	−3	−618,000	146,000
Total unrealized loss on derivative instruments, net of tax	−3	−2	−2	6	913,000
Foreign currency translation adjustments, net of tax	5	−269,000	929,000	−2	30,000
Other comprehensive income (loss)	2	−2	−1	4	943,000
Comprehensive income, net of tax	46	34	37	10	14

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 and cash equivalents	123	125	—	—	—
Restricted cash	2	—	—	—	—
Accounts receivable, net	111	94	58	65	48
Inventories	100	82	81	70	64
Prepaid expenses	15	19	12	10	10
Other current assets	15	8	7	7	3
Total current assets	366	328	246	197	160
Property and equipment, net	79	45	—	—	—
Operating lease assets	20	15	7	8	—
Deferred tax assets, net	5	5	4	2	7
Intangible assets, net	115	108	43	51	42
Goodwill	181	148	82	82	66
Other assets	4	4	5	7	3
Total assets	770	653	431	392	312
Accounts payable	22	30	28	23	19
Accrued liabilities	61	46	45	39	41
Income tax payable	5	7	10	5	1
Current portion of long-term debt	16	11	12	12	13
Total current liabilities	104	94	95	79	75
Long-term debt	291	212	128	137	147
Long-term operating lease liabilities	15	11	3	5	—
Deferred tax liabilities	30	19	5	4	1
Other liabilities	12	6	3	1	722,000
Total liabilities	452	341	234	226	223
Commitments and contingencies (Note 15)	—	—	—	—	—
Preferred stock ($0.0001 par value, 10,000,000 shares authorized, no shares issued and outstanding as of December 31, 2025 and December 31, 2024)	—	—	—	—	—
Common stock ($0.0001 par value, 190,000,000 shares authorized, 42,160,656 and 40,607,988 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively)	4,000	4,000	4,000	4,000	3,000
Additional paid-in capital	283	307	213	207	128
Accumulated other comprehensive income (loss)	460,000	−1	634,000	2	−2
Accumulated earnings	35	6	−16	−43	−37
Total shareholders' equity	318	312	197	166	89
Total liabilities, mezzanine equity and shareholders' equity	770	653	431	392	312

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
Net income	44	36	39	6	13
Depreciation and amortization	19	16	16	16	14
Amortization of original issue discount and debt issue costs	1	1	479,000	740,000	3
Amortization of inventory step-up	1	4	—	4	—
Deferred income taxes	2	−2	−210,000	−1	5
Stock-based compensation	12	8	9	32	355,000
Remeasurement of contingent consideration	2	1	—	—	—
(Recoveries from) provision for losses on accounts receivable	−108,000	764,000	66,000	417,000	−188,000
Unrealized foreign exchange transaction gain	−2	2	−602,000	2	102,000
Other loss (gain)	390,000	496,000	−381,000	−170,000	—
Accounts receivable	8	−25	7	−12	−5
Inventories	−4	10	−10	1	−3
Prepaid expenses and other assets	−5	−6	−302,000	−8	−5
Accounts payable and other liabilities	−16	−16	14	5	3
Net cash provided by operating activities	64	32	73	46	40
Purchase of property and equipment	−7	−6	−7	−4	−3
Proceeds from disposition of property and equipment	77,000	55,000	207,000	411,000	—
Business acquisitions, net of cash acquired	−90	−142	—	−56	—
Net cash used in investing activities	−96	−147	−7	−60	−3
Proceeds from revolving credit facilities	—	6	—	43	258
Principal payments on revolving credit facilities	—	−6	—	−43	−259
Proceeds from term loans	98	129	—	—	199
Principal payments on term loans	−14	−43	−10	−10	−266
Proceeds from insurance premium financing	—	—	4	4	5
Principal payments on insurance premium financing	—	−2	−4	−5	−3
Payments for debt issuance costs	—	−3	—	—	−2
Taxes paid in connection with employee stock transactions	−40	−5	−3	−6	—
Proceeds from exercise of stock options	3	—	—	—	—
Proceeds from secondary offering, net of underwriter discounts	—	92	—	56	—
Deferred offering costs	—	−683,000	—	−3	−5
Dividends distributed	−15	−14	−12	−12	−13
Other	207,000	37,000	33,000	−25,000	−43,000
Net cash provided by (used in) financing activities	32	153	−25	24	−7
Effect of foreign exchange rates on cash, cash equivalents and restricted cash	1	224,000	438,000	183,000	318,000
Change in cash, cash equivalents and restricted cash	394,000	37	42	11	31
Cash paid for income taxes, net	25	24	9	1	1
Cash paid for interest	18	14	10	6	13
Accruals and accounts payable for capital expenditures	139,000	176,000	234,000	172,000	197,000

Filings

Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro

Material Events

Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro

Insiders

Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro

Institutional Holders

Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro