Distribution Solutions Group, Inc.

Listed Company

DSGRCIK 0000703604NasdaqAcceleratedWholesale-Machinery, Equipment & SuppliesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$1.98B

Net Income

$8.35M

Total Assets

$1.75B

Equity

$649.35M

Shares Out

46.20M

Op. Cash Flow

$83.85M

Business

Distribution Solutions Group, Inc. is a global specialty distribution company providing value-added distribution solutions to MRO, OEM and industrial technology customers. It offers a broad mix of products and services including MRO supplies, test and measurement equipment, supply chain and VMI services, kitting, calibration, rental and value‑added technical support. The company operates through four reportable segments: Lawson, TestEquity, Gexpro Services and Canada Branch Division. DSG distributes products via sales representative networks, branch locations, distribution and service centers and e‑commerce channels across North America, Europe, Asia, South America and the Middle East.

Summary from filing dated 2025-03-06

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
Revenue	1,980	1,804	1,570	—	—
Cost of goods sold	1,318	1,190	1,019	761	390
Gross profit	662	614	552	391	130
Selling, general and administrative expenses	584	558	509	349	119
Operating income (loss)	78	56	43	42	11
Interest expense	−55	−55	−43	−24	—
Change in fair value of earnout liabilities	−1	−988,000	758,000	−483,000	0
Other income (expense), net	−3	−358,000	−3	−670,000	577,000
Income (loss) before income taxes	19	−536,000	−2	13	−5
Total	11	7	7	6	313,000
Net income (loss)	8	−7	−9	7	−5
Basic income (loss) per share of common stock (in USD per share)	0.18	−0.16	−0.2	0.22	−0.49
Diluted income (loss) per share of common stock (in USD per share)	0.18	−0.16	−0.2	0.21	−0.49
Foreign currency translation adjustment	17	−17	5	−12	16,000
Other	0	0	−120,000	0	42,000
Comprehensive income (loss)	25	−24	−4	−4	−5

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	62	66	84	25	15
Restricted cash	14	15	16	186,000	0
Accounts receivable, less allowances of $6,472 and $2,416, respectively	271	251	213	166	81
Inventories	353	348	316	264	133
Prepaid expenses and other current assets	47	32	28	23	8
Total current assets	747	712	657	478	236
Property, plant and equipment, net	127	126	114	64	9
Rental equipment, net	39	39	25	27	25
Goodwill	468	463	400	348	104
Deferred tax asset, net	1	136,000	95,000	189,000	266,000
Cash value of life insurance	22	20	18	17	0
Right of use operating lease assets	111	92	76	47	20
Other assets	8	6	6	6	747,000
Total assets	1,749	1,727	1,550	1,216	491
Accounts payable	151	126	99	80	48
Current portion of long-term debt	35	40	33	16	134
Current portion of lease liabilities	21	19	14	10	5
Accrued expenses and other current liabilities	84	81	97	63	23
Total current liabilities	291	266	242	169	215
Long-term debt, less current portion, net	664	694	536	396	93
Lease liabilities	99	78	67	40	16
Deferred tax liability, net	20	22	18	24	808,000
Other liabilities	25	27	25	24	574,000
Total liabilities	1,099	1,087	889	653	326
Commitments and contingencies (Note 15)	—	—	—	—	—
Preferred stock, $1 par value: Authorized - 500,000 shares, issued and outstanding - None	0	0	0	0	0
Common stock, $1 par value: Authorized - 70,000,000 shares Issued - 47,860,312 and 47,738,290 shares, respectively Outstanding - 46,180,700 and 46,856,757 shares, respectively	46	47	47	39	10
Capital in excess of par value	686	677	671	572	197
Retained deficit	−34	−42	−35	−26	−33
Treasury stock - 1,679,612 and 881,533 shares, respectively	−44	−20	−16	−13	—
Accumulated other comprehensive income (loss)	−5	−22	−5	−10	2
Total stockholders equity	649	641	662	563	166
Total liabilities and stockholders equity	1,749	1,727	1,550	1,216	491

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	81	74	64	45	19
Amortization of debt issuance costs	3	3	2	2	1
Stock-based compensation	7	5	8	2	0
Compensation expense related to employee share purchases	0	0	427,000	0	—
Deferred income taxes	−4	−7	−8	−2	−4
(Gain) loss on sale of rental equipment	−5	−3	−3	−4	−2
(Gain) loss on sale of property, plant and equipment	−708,000	−61,000	294,000	0	—
Charge for step-up of acquired inventory	0	3	4	3	0
Net realizable value adjustment and write-offs for obsolete and excess inventory	7	7	9	5	—
Bad debt expense	4	863,000	784,000	795,000	939,000
Accounts receivable	−21	−1	18	−22	7
Inventories	−7	−9	−1	−42	−5
Prepaid expenses and other current assets	−18	−869,000	931,000	−2	2
Accounts payable	24	11	3	−9	−2
Accrued expenses and other current liabilities	4	−21	14	4	3
Other changes in operating assets and liabilities	871,000	867,000	259,000	−4	−3
Net cash provided by (used in) operating activities	84	56	102	−11	10
Purchases of property, plant and equipment	−21	−14	−15	−8	−3
Proceeds from sale of property, plant and equipment	990,000	4	0	0	—
Business acquisitions, net of cash acquired	−2	−199	−260	−115	−34
Asset acquisitions	0	−16	0	0	—
Purchases of rental equipment	−19	−10	−9	−12	−11
Proceeds from sale of rental equipment	13	5	6	9	6
Other	−560,000	0	0	—	—
Net cash provided by (used in) investing activities	−29	−230	−279	−127	−41
Proceeds from revolving lines of credit	265	212	181	383	38
Payments on revolving lines of credit	−261	−214	−302	−321	−11
Proceeds from term loans	700	200	305	446	6
Payments on term loans	−740	−33	−26	−335	−7
Deferred financing costs	−5	−2	−3	−12	0
Proceeds from rights offering, net of offering costs of $1,531	0	0	98	—	—
Repurchase of common stock	−24	−3	−4	−2	0
Shares repurchased held in treasury	−614,000	−617,000	−287,000	−520,000	0
Proceeds from employees for share purchases	0	0	3	0	—
Stock option exercises	877,000	0	0	—	0
Payment of financing lease principal	−600,000	−653,000	−515,000	−429,000	0
Payment of earnout	0	0	−1	0	—
Net cash provided by (used in) financing activities	−64	159	250	148	35
Effect of exchange rate changes on cash and cash equivalents	4	−4	717,000	−675,000	660,000
Increase (decrease) in cash, cash equivalents and restricted cash	−6	−18	75	10	4
Net cash paid for income taxes	18	15	12	14	3
Net cash paid for interest	52	53	38	22	15
Net cash paid for interest on supply chain financing	3	3	3	1	—
Additions of property, plant and equipment included in accounts payable	490,000	457,000	361,000	177,000	311,000
Right of use assets obtained in exchange for finance lease liabilities	404,000	821,000	616,000	886,000	—
Right of use assets obtained in exchange for operating lease liabilities	39	15	19	15	—

Filings

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