HURCO COMPANIES INC

Listed Company

HURCCIK 0000315374NasdaqAcceleratedSmaller ReportingIndustrial Instruments For Measurement, Display, And ControlIndianaFY ends Oct 31

Period

FY 2025

Revenue

$178.55M

Net Income

$-15.12M

Total Assets

$264.30M

Equity

$198.79M

Shares Out

6.45M

Op. Cash Flow

$17.56M

Business

Hurco Companies, Inc. designs, manufactures, and sells computerized (CNC) machine tools and related controls for the metal cutting industry. Its main products and services include vertical and horizontal machining centers, turning centers, proprietary controls and WinMax® software, software options, control upgrades, accessories, replacement parts, Autobend® press‑brake controls, ProCobots automation systems, and LCM components. The company operates three branded CNC lines—Hurco, Milltronics, and Takumi—alongside ProCobots and LCM divisions and non‑Hurco OEM offerings. It sells globally through independent distributors and its direct sales, service, and support subsidiaries across the Americas, Europe, and Asia.

Summary from filing dated 2025-01-10

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-10-31	FY 2024 2024-10-31	FY 2023 2023-10-31	FY 2022 2022-10-31	FY 2021 2021-10-31
Sales and service fees	179	187	228	251	235
Cost of sales and service	146	149	172	186	179
Gross profit	33	38	56	64	56
Selling, general and administrative expenses	43	46	50	52	46
Operating (loss) income	−10	−8	7	13	10
Interest expense	89,000	578,000	282,000	27,000	—
Interest income	256,000	621,000	369,000	79,000	34,000
Investment income, net	302,000	80,000	61,000	174,000	173,000
Income from equity investments	80,000	292,000	494,000	733,000	203,000
Other expense, net	2	2	504,000	2	513,000
(Loss) income before income taxes	−12	−10	7	12	10
Provision (benefit) for income taxes	3	7	2	4	3
Net (loss) income	−15	−17	4	8	7
(Loss) income per common share - basic	−2.34	−2.56	0.67	1.24	1.01
(Loss) income per common share - diluted	−2.34	−2.56	0.66	1.23	1.01
Weighted average common shares outstanding - basic	6	6	6	7	7
Weighted average common shares outstanding - diluted	6	6	7	7	7
Dividends paid per share	—	0.32	0.63	0.59	0.55

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-10-31	FY 2024 2024-10-31	FY 2023 2023-10-31	FY 2022 2022-10-31	FY 2021 2021-10-31
Cash and cash equivalents	49	33	42	64	84
Accounts receivable, net	28	37	40	38	43
Inventories	143	153	158	156	148
Derivative assets	263,000	323,000	740,000	3	905,000
Prepaid and other assets	5	5	8	7	14
Total current assets	225	229	248	268	290
Land	1	1	1	868,000	868,000
Building	7	7	7	7	7
Machinery and equipment	26	28	27	27	30
Leasehold improvements	5	5	4	4	5
Property and equipment, gross	39	41	40	39	43
Less accumulated depreciation and amortization	−31	−32	−31	−31	−32
Total property and equipment, net	8	9	9	8	11
Software development costs, less accumulated amortization	8	7	7	7	8
Intangible assets, net	627,000	763,000	994,000	1	2
Operating lease - right of use assets, net	12	11	11	8	11
Deferred income taxes	794,000	1	5	3	3
Investments	9	8	—	—	—
Other assets	1	3	10	9	10
Total non-current assets	31	31	34	30	32
Total assets	264	269	291	306	333
Customer deposits	5	4	3	5	9
Derivative liabilities	3	705,000	2	4	467,000
Operating lease liabilities	4	4	4	4	4
Accrued payroll and employee benefits	7	8	10	11	10
Accrued income taxes	1	866,000	2	3	1
Accrued expenses	4	4	4	5	6
Accrued warranty expenses	967,000	1	1	1	2
Total current liabilities	52	48	55	73	81
Deferred income taxes	38,000	53,000	83,000	67,000	68,000
Accrued tax liability	—	537,000	1	1	2
Operating lease liabilities	8	8	8	5	7
Deferred credits and other	6	5	4	4	5
Total non-current liabilities	13	14	13	10	13
Commitment and contingencies	—	—	—	—	—
Preferred stock: no par value per share, 1,000,000 shares authorized; no shares issued	0	0	0	0	0
Common stock: no par value, $.10 stated value per share, 12,500,000 shares authorized; 6,569,224 and 6,548,838 shares issued and 6,402,396 and 6,435,624 shares outstanding, as of October 31, 2025 and October 31, 2024, respectively	640,000	644,000	646,000	657,000	662,000
Additional paid-in capital	61	62	62	64	64
Retained earnings	146	161	180	180	176
Accumulated other comprehensive loss	−9	−16	−20	−22	−2
Total shareholders' equity	199	207	222	223	238
Total liabilities and shareholders' equity	264	269	291	306	333

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-10-31	FY 2024 2024-10-31	FY 2023 2023-10-31	FY 2022 2022-10-31	FY 2021 2021-10-31
Provision for doubtful accounts	−250,000	−36,000	32,000	−159,000	244,000
Deferred income taxes	−4	−4	−120,000	−1	−112,000
Deferred income tax valuation allowance	5	9	141,000	412,000	—
Foreign currency (gain) loss	711,000	−426,000	−3	1	31,000
Unrealized (gain) loss on derivatives	2	−96,000	−754,000	727,000	−316,000
Depreciation and amortization	3	4	4	4	4
Stock-based compensation	2	2	3	3	3
(Increase) decrease in accounts receivable	10	4	−84,000	280,000	−15
(Increase) decrease in inventories	16	8	−648,000	−24	2
(Increase) decrease in prepaid and other assets	−466,000	1	−805,000	7	690,000
Increase (decrease) in accounts payable	313,000	−5	−12	−2	21
Increase (decrease) in customer deposits	392,000	1	−2	−3	3
Increase (decrease) in accrued expenses	−798,000	−97,000	−2	1	2
Increase (decrease) in accrued payroll and employee benefits	−312,000	−2	−901,000	362,000	3
Increase (decrease) in accrued income tax	579,000	−885,000	−985,000	2	900,000
Increase (decrease) in accrued tax liability	−537,000	−756,000	11,000	−467,000	—
Net change in deferred tax assets and liabilities	354,000	481,000	−1	−25,000	−325,000
Net change in derivative assets and liabilities	−102,000	−445,000	885,000	264,000	−135,000
Other	−326,000	−520,000	−528,000	229,000	1
Net cash provided by (used for) operating activities	18	−3	−13	−4	32
Proceeds from sale of property and equipment	247,000	18,000	407,000	101,000	3,000
Purchase of property and equipment	−910,000	−1	−1	−1	−1
Software development costs	−2	−2	−1	−1	−1
Proceeds from surrender of life insurance policies	1	—	—	—	—
Other investments	118,000	119,000	273,000	—	−979,000
Net cash provided by (used for) investing activities	−1	−3	−2	−2	−3
Proceeds from exercise of common stock options	—	—	270,000	117,000	350,000
Dividends paid	—	−2	−4	−4	−4
Stock repurchases	−2	−2	−5	−3	—
Excise tax payable related to stock repurchases	—	—	−28,000	—	—
Taxes paid related to net settlement of restricted shares	−352,000	−315,000	−313,000	−207,000	−197,000
Net cash provided by (used for) financing activities	−2	−4	−9	−7	−4
Effect of exchange rate changes on cash and cash equivalents	1	713,000	1	−7	895,000
Net increase (decrease) in cash and cash equivalents	15	−8	−22	−20	26
Income taxes, net	2	3	4	−2	2

Filings

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