Envela (ELA) Q4 2025 earnings summary

Executive summary

• Achieved record annual revenue of $241.0 million and annual diluted EPS of $0.56 for 2025, with Q4 revenue of $80.5 million and EPS of $0.23.

• Both Consumer and Commercial segments contributed to strong growth, with Consumer driven by robust bullion and jewelry demand and Commercial by IT asset disposition and electronic scrap shipments.

• Management highlighted continued expansion, including plans to open a new Consumer store in Q2 2026.

Financial highlights

• Full year 2025 revenue rose to $241.0 million from $180.4 million in 2024; Q4 revenue increased to $80.5 million from $48.3 million year-over-year.

• Gross margin for 2025 was $53.9 million, up from $44.3 million; Q4 gross margin was $16.5 million, up from $11.1 million.

• Operating income for 2025 was $18.1 million, more than doubling from $8.2 million; Q4 operating income was $7.5 million, up from $1.9 million.

• Net income for 2025 was $14.6 million ($0.56/share), up from $6.8 million ($0.26/share); Q4 net income was $6.0 million ($0.23/share), up from $1.6 million ($0.06/share).

• Adjusted EBITDA for 2025 was $20.0 million (8.3% of revenue), up from $9.7 million (5.4%); Q4 Adjusted EBITDA was $8.0 million (3.3%), up from $2.3 million (4.8%).

Outlook and guidance

• Management expects continued growth in both segments, with a new Consumer store opening in Q2 2026 to support expansion.

• Focus remains on building Consumer brands and expanding Commercial relationships.