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DMC Global (BOOM) investor relations material
DMC Global Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 2025 sales were $151.5 million, down 1% year-over-year and 3% sequentially, with Arcadia sales up 7%, DynaEnergetics stable, and NobelClad down 16%.
Net loss attributable to stockholders was $3.1 million; adjusted net loss was $1.6 million ($0.08 per diluted share).
Adjusted EBITDA attributable to the company was $8.6 million, up 51% year-over-year, with margin at 7.9%.
Net debt reduced to $30.1 million, a 47% decrease since the start of the year, the lowest since the Arcadia acquisition.
NobelClad secured a record $20 million order, with a $5 million follow-on, boosting backlog, with most revenue recognized in 2026.
Financial highlights
Gross profit margin for Q3 was 21.7%, up from 19.8% last year but down from 23.6% in Q2.
SG&A expenses were $26 million, 17.1% of sales, down from 18.5% last year and 8% year-over-year.
Free cash flow for Q3 2025 was $16.3 million.
For the nine months ended September 30, 2025, net sales were $466.3 million, down 5% year-over-year.
Adjusted net income for the nine months was $3.0 million ($0.15 per share).
Outlook and guidance
Q4 2025 sales expected between $140 million and $150 million; adjusted EBITDA guidance is $5 million to $8 million.
Guidance reflects delayed NobelClad bookings, continued headwinds in DynaEnergetics' North American market, and Arcadia's expected year-over-year profitability improvement despite seasonal slowdown.
Guidance is influenced by macroeconomic volatility, tariffs, and energy market/tariff uncertainties.
Leverage ratio was 1.19x, well below the 3.0x covenant; adjusted leverage ratio was 0.65x as of September 30, 2025.
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