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Edge12 Dec 2025
Running on Clouds: The Story of On
The story of how a Swiss runner's pursuit of a new running sensation became On, aiming to be the most premium global sportswear brand worldwide.
Strattec Security (STRT) investor relations material
Strattec Security Sidoti's Year End Virtual Investor Conference summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Sidoti's Year End Virtual Investor Conference summary11 Dec, 2025
Strategic transformation and leadership
New executive team focused on culture, innovation, and operational rigor, breaking down silos and driving transformation across the organization.
Four strategic initiatives: capabilities and culture, business operating system, customer focus, and modernization of business processes.
Business Operating System implemented, with a 15% headcount reduction in FY25 saving $5M and further restructuring in Mexico for $1M in additional savings.
Sale/leaseback of facilities and HQ relocation to support collaboration and modernization.
Leadership remains optimistic, emphasizing resilience and a strong foundation despite external challenges, but transformation is still in early stages.
Product portfolio, innovation, and growth priorities
Balanced product portfolio focused on security/authorization and power access, with digital key fob technology integrated with smartphones.
Product portfolio prioritized for growth in power access and digital key technologies, with legacy product continuity maintained.
Engaged in new platform launches for 2029 model year and beyond, targeting expanded customer base in North America.
Over 60% of revenue from Ford, GM, and Stellantis, with opportunities to expand market share and support non-US OEMs like Hyundai and Kia.
Manufacturing and engineering capabilities span multiple locations, supporting OEMs across EV, hybrid, and ICE platforms.
Financial performance and outlook
Q1 sales reached $152 million, up 10% year-over-year, with TTM Q1 FY26 revenue at $578.4M and Q1 FY26 net sales up 9.6% year-over-year.
Gross margin improved to 17.3% and expanded by 370 basis points year-over-year in Q1 FY26, driven by pricing, restructuring, and higher sales.
Net income up 130% year-over-year in Q1 FY26, with adjusted EPS up 91% and adjusted EBITDA margin up 310 basis points.
Cash from operations in Q1 FY26 was $11.3M, with $90 million cash on hand, $5 million debt, and a new $40M revolving credit facility secured.
Near-term headwinds include supply chain disruptions from aluminum fire, chip shortages, and Mexico border issues, impacting Q2 and possibly Q3 FY26.
New platform wins for 2029+ model years
Impact of headwinds on 18-20% gross margin goal?
Automation and IT systems advances progress
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Next Strattec Security earnings date
Q2 20266 Feb, 2026
Next Strattec Security earnings date
Q2 20266 Feb, 2026
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Frequently asked questions
Strattec Security Corporation designs, manufactures, and markets mechanical locks, electro-mechanical locks, latches, and related security products for the automotive industry. The company’s product offerings include keyless entry systems, steering column and door handle components, and other vehicle access control products. Strattec serves major automotive original equipment manufacturers (OEMs) and the aftermarket sector, providing both high-volume production and custom solutions tailored to specific vehicle models. In addition to its core automotive focus, Strattec also supplies products for commercial, recreational, and industrial vehicles. The company is headquartered in Milwaukee, Wisconsin, and its shares are listed on the NASDAQ.
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