Holley Inc.

Listed Company

HLLY-WTCIK 0001822928NYSEAcceleratedSmaller ReportingMotor Vehicle Parts & AccessoriesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$613.51M

Net Income

$19.18M

Total Assets

$1.16B

Equity

$448.93M

Shares Out

120.94M

Op. Cash Flow

$46.22M

Business

Holley Inc. designs, manufactures, and distributes high-performance automotive aftermarket products for car and truck enthusiasts. Its products include carburetors, fuel pumps, fuel injection and nitrous systems, superchargers, exhaust systems, ignition components, engine tuners, transmissions, shifters and automotive software. The company operates through a portfolio of brands and consumer verticals (Domestic Muscle, Modern Truck & Off-Road, Euro & Import, Safety & Racing), serving both direct-to-consumer and distribution partner channels. Holley sells primarily in the United States, Canada and Europe through DTC, e-tailers, warehouse distributors, retailers and jobbers/installers.

Summary from filing dated 2025-03-14

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	614	602	660	688	693
Cost of goods sold	347	364	404	435	406
Gross profit	266	239	256	254	287
Selling, general, and administrative	146	132	120	151	117
Research and development costs	19	19	24	29	28
Amortization of intangible assets	14	14	15	15	14
Impairment of indefinite-lived intangible assets	0	8	0	2	0
Impairment of goodwill	0	41	0	0	—
Restructuring costs	3	2	—	—	—
Loss on sale of assets	0	9	—	—	—
Other operating expense (income)	2	−268,000	765,000	477,000	755,000
Total operating expense	184	224	162	203	209
Operating income	82	15	94	51	78
Change in fair value of warrant liability	1	−8	4	−57	33
Change in fair value of earn-out liability	897,000	−2	2	−11	9
Loss (gain) on early extinguishment of debt	−93,000	141,000	−701,000	0	14
Interest expense, net	−52	−51	−61	−40	—
Total non-operating expense	54	41	66	−28	94
Income (loss) before income taxes	29	−26	28	78	−17
Income tax expense (benefit)	9	−3	8	4	10
Net income (loss)	19	−23	19	74	−27
Foreign currency translation adjustment	1	−452,000	—	—	—
Total other comprehensive income (loss)	1	−452,000	234,000	−688,000	418,000
Total comprehensive income (loss)	20	−24	19	73	−27
Weighted average common shares outstanding - basic (in shares)	119	118	117	117	90
Weighted average common shares outstanding - diluted (in shares)	120	118	119	117	90
Basic net income (loss) per share ((in usd per share))	0.16	−0.2	0.16	0.63	−0.3
Diluted net income (loss) per share (in usd per share)	0.16	−0.2	0.16	0.14	−0.3

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2024 2024-09-30	FY 2023 2023-12-31	FY 2022 2022-12-31
Cash and cash equivalents	37	56	—	41	26
Accounts receivable, less allowance for credit losses of $1,856 and $2,026, respectively	58	36	—	48	47
Inventory	206	193	—	192	234
Prepaids and other current assets	15	13	—	16	18
Total current assets	316	297	—	297	325
Property, plant, and equipment, net	45	41	—	47	52
Goodwill	372	372	413	419	418
Other intangibles assets, net	397	387	—	410	425
Right-of-use assets	33	36	—	29	30
Total assets	1,164	1,133	—	1,203	1,250
Accounts payable	60	45	—	44	45
Accrued liabilities	48	43	—	42	43
Accrued interest	115,000	0	—	455,000	6
Current portion of long-term debt	7	7	—	—	—
Total current liabilities	115	95	—	94	101
Long-term debt, net of current portion	516	545	—	577	644
Warrant liability	2	813,000	—	8	4
Earn-out liability	2	1	—	3	1
Deferred taxes	47	37	—	54	58
Other noncurrent liabilities	33	32	—	26	25
Total liabilities	715	712	—	762	834
"Commitments and contingencies (Refer to Note 18 - ""Commitments and Contingencies"")"	—	—	—	—	—
Preferred stock, $0.0001 par value, 5,000,000 shares authorized, none issued and outstanding on December 31, 2024 and December 31, 2023	0	0	—	0	0
Common stock, $0.0001 par value, 550,000,000 shares authorized, 118,748,697 and 117,707,280 shares issued and outstanding on December 31, 2024 and December 31, 2023, respectively	12,000	12,000	—	12,000	12,000
Additional paid-in capital	385	378	—	374	368
Accumulated other comprehensive gain (loss)	120,000	−1	—	−710,000	−944,000
Retained earnings	64	45	—	68	49
Total stockholders' equity	449	421	—	441	416
Total liabilities and stockholders' equity	1,164	1,133	—	1,203	1,250

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	10	11	10	10	12
Amortization of deferred loan costs	2	2	2	2	3
Amortization of right of use assets	5	5	5	6	0
Fair value adjustments to interest rate collar	3	−1	1	0	0
Equity compensation	8	5	7	24	5
Change in deferred taxes	9	−16	−5	−12	−66,000
Loss on sale of assets	0	9	0	1	0
Loss (gain) on disposal of property, plant and equipment	722,000	−568,000	−192,000	253,000	−82,000
Provision for inventory reserves	4	11	2	13	4
Provision for credit losses	362,000	1	1	878,000	147,000
Accounts receivable	−21	11	−2	4	464,000
Inventories	−17	−17	38	−58	−45
Prepaids and other current assets	−6	3	—	—	—
Accounts payable	13	1	−2	−740,000	9
Accrued interest	115,000	−455,000	−6	3	−3
Accrued and other liabilities	105,000	−7	−6	−5	8
Net cash provided by operating activities	46	47	88	12	22
Capital expenditures	−12	−7	−6	−14	−15
Acquisition of license agreement	−20	0	—	0	0
Proceeds from the disposal of fixed assets	322,000	2	—	—	—
Proceeds from sale of business	0	7	0	2	0
Net cash (used in) provided by investing activities	−32	2	−4	−25	−134
Deferred financing fees	343,000	−679,000	—	—	—
Payments from stock-based award activities	−847,000	−1	−2	−1	0
Borrowings under revolving credit facility	10	0	—	—	—
Repayment of borrowings under revolving credit facility	−10	0	—	—	—
Net cash used in financing activities	−33	−35	−69	3	77
Effect of foreign currency rate fluctuations on cash	−235,000	691,000	300,000	−300,000	0
Net change in cash and cash equivalents	−19	15	15	−10	−35
Cash paid for interest	47	52	65	37	38
Income Taxes Paid, Net	10	11	16	7	11

Filings

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