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Tandy Leather Factory (TLF) investor relations material
Tandy Leather Factory Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenues grew 2.6% year-over-year to $76.3 million for 2025, with fourth quarter sales up to $22.2 million from $20.5 million.
Net income surged to $9.1 million from $0.8 million in 2024, aided by the sale of the corporate headquarters.
Gross margin improved to 57.0% for the year, up from 56.2% in 2024.
Financial highlights
Operating loss of $1.0 million in 2025, compared to operating income of $0.6 million in 2024.
Adjusted EBITDA from operations was $0.6 million for 2025.
Operating expenses rose 8.1% to $44.5 million, reflecting increased costs from renting new facilities and employee bonuses.
Inventory decreased to $33.2 million from $35.6 million year-over-year.
Cash and cash equivalents increased to $16.1 million, up from $13.3 million, after the HQ sale and special dividend payment.
Outlook and guidance
Management expects to focus on continued sales growth and a return to operating profitability in 2026.
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