• DMC Global Reports First Quarter Financial Results

    ソース: Nasdaq GlobeNewswire / 01 5 2025 13:05:01   America/Los_Angeles

    • First quarter sales were $159.3 million, up 5% sequentially and down 5% versus Q1 2024
    • Net income attributable to DMC was $0.7 million
    • Adjusted net income attributable to DMC* was $2.2 million, or $0.11 per diluted share
    • Adjusted EBITDA attributable to DMC* was $14.4 million, while total adjusted EBITDA, inclusive of non-controlling interest (NCI), was $18.1 million

    BROOMFIELD, Colo., May 01, 2025 (GLOBE NEWSWIRE) -- DMC Global Inc. (Nasdaq: BOOM) today reported financial results for its first quarter ended March 31, 2025. Continued progress on key operational initiatives at DMC’s largest businesses drove a 5% sequential improvement in consolidated sales versus the fourth quarter, and a 39% sequential increase in consolidated adjusted EBITDA attributable to DMC.

    Sales at Arcadia, DMC’s architectural building products business, were $65.6 million, up 9% sequentially and up 6% versus last year’s first quarter. The growth reflects higher sales of commercial exterior store front products and interior framing systems, which more than offset an expected decline in high-end residential window and door sales. Arcadia has recently refocused on its core commercial operations while making cost control a priority in the current volatile macroeconomic environment. Adjusted EBITDA attributable to DMC was $5.6 million, up 149% sequentially and up 58% versus the prior-year first quarter.

    At DynaEnergetics, DMC’s energy products business, first quarter sales were $65.6 million, up 3% sequentially and down 16% versus the year-ago first quarter. The year-over-year decline principally reflects pricing adjustments and lower unit sales associated with weakness in the highly volatile global energy markets. Adjusted EBITDA was $7.4 million, up 45% sequentially and down 30% versus the first quarter last year.

    DynaEnergetics recently completed a major automation initiative at its manufacturing center in Blum, Texas. The project focused on streamlining the assembly of the industry-leading DynaStage™ perforating system and will result in increased production capacity and a leaner workforce. While tariffs, oil price declines and poor economic visibility are outside of DMC’s control, management has focused on executing these actionable operating-improvement strategies.

    At NobelClad, DMC’s composite metals business, sales were flat sequentially and up 5% versus the year-ago first quarter. Order backlog at the end of the first quarter was $41 million versus $49 million at the end of the fourth quarter. Incoming orders for this global business have been especially volatile in recent months, and have been directly impacted by tariff discussions as customers have elected to hold off on placing orders until visibility improves. Adjusted EBITDA was $5.4 million, down 7% sequentially and down 8% versus last year’s first quarter.

    “At the end of 2024, we successfully extended the maturity of the Arcadia put/call obligation, while we stabilized operations at our two largest businesses,” said James O’Leary, Executive Chairman & Interim Chief Executive Officer. “This laid the foundation for our renewed ‘back to basics’ operating and commercial strategies focused on driving absolute EBITDA growth and free cash flow with a focus on further deleveraging.

    “Our performance in the first quarter reflects a solid start to the year, as each of our businesses executed on the things within their control. While tariffs, deteriorating macroeconomic conditions and particularly poor visibility are ongoing challenges, our operating leaders are executing upon their operating-improvement strategies. I want to thank them—and all our DMC associates around the world—for their commitment and hard work on behalf of our stakeholders.”

    Guidance

    Second quarter sales are expected to be in a range of $149 million to $157 million, with adjusted EBITDA anticipated in a range of $10 million to $13 million. Lower project billings are anticipated in the second quarter at Arcadia, which recently completed a substantial portion of a large mixed-use project in California. Additionally, Arcadia’s results are expected to be below the year-ago second quarter, which benefitted from very strong demand for high-end residential and commercial exterior products. Since last year, demand in the luxury residential market has declined significantly, driven by persistently high interest rates, renewed inflation concerns, and broader macroeconomic uncertainty. At DynaEnergetics, second quarter guidance assumes sequentially stable well completion activity in its core U.S. onshore oil and gas markets. Finally, NobelClad’s sales are expected to be lower sequentially as customers seek clarity on evolving U.S. and reciprocal tariff policies. The above guidance is heavily influenced by macroeconomic concerns, volatility and visibility issues created by current tariff policies and the current level of energy prices. It is subject to change either upward or downward as greater clarity emerges.

    Summary First Quarter Results

      Three months ended Change
      Mar 31, 2025 Dec 31, 2024 Mar 31, 2024 Sequential Year-on-year
    Net sales $159,290  $152,374  $166,869  5%  (5)% 
    Gross profit percentage  25.9%   20.8%   25.4%      
    SG&A $28,300  $25,126  $28,203  13%  —% 
    Net income (loss) $1,863  $(1,156)  $2,319  261%  (20)% 
    Net income attributable to DMC $677  $296  $2,563  129%  (74)% 
    Diluted net income (loss) per share attributable to DMC $0.04  $(0.17)  $0.01  124%  300% 
    Adjusted net income attributable to DMC $2,170  $1,754  $4,167  24%  (48)% 
    Adjusted diluted net income per share $0.11  $0.09  $0.21  22%  (48)% 
    Adjusted EBITDA attributable to DMC $14,391  $10,382  $16,683  39%  (14)% 
    Adjusted EBITDA before NCI allocation $18,122  $11,876  $19,045  53%  (5)% 
    Adjusted EBITDA before NCI allocation margin  11.4%   7.8%   11.4%      


    Arcadia

      Three months ended Change
      Mar 31, 2025 Dec 31, 2024 Mar 31, 2024 Sequential Year-on-year
    Net sales $65,580  $60,272  $61,925  9%  6% 
    Gross profit percentage  31.0%   22.4%   27.2%     
    Adjusted EBITDA attributable to DMC $5,596  $2,243  $3,544  149%  58% 
    Adjusted EBITDA before NCI allocation $9,327  $3,737  $5,906  150%  58% 
    Adjusted EBITDA before NCI allocation margin  14.2%   6.2%   9.5%     


    DynaEnergetics

      Three months ended Change
      Mar 31, 2025 Dec 31, 2024 Mar 31, 2024 Sequential Year-on-year
    Net sales $65,551  $63,675  $78,122  3% (16)% 
    Gross profit percentage  19.5%  15.1%  21.7%     
    Adjusted EBITDA $7,379  $5,098  $10,539  45% (30)% 
    Adjusted EBITDA margin  11.3%  8.0%  13.5%     


    NobelClad

      Three months ended Change
      Mar 31, 2025 Dec 31, 2024 Mar 31, 2024 Sequential Year-on-year
    Net sales $28,159  $28,427  $26,822  (1)%  5% 
    Gross profit percentage  28.8%  30.5%  32.2%     
    Adjusted EBITDA $5,416  $5,848  $5,880  (7)%  (8)% 
    Adjusted EBITDA margin  19.2%  20.6%  21.9%     


    • NobelClad's rolling 12-month bookings were $94.4 million, and the 12-month book-to-bill ratio was 0.88.

    Conference call information

    The conference call will begin today at 5 p.m. Eastern (3 p.m. Mountain) and will be accessible by dialing 877-407-5783 (or +1 201-689-8782 for international callers).

    Investors are invited to listen to the webcast live via the Internet at:

    https://event.choruscall.com/mediaframe/webcast.html?webcastid=dujAKFVW

    Webcast participants should access the website at least 15 minutes early to register and download any necessary audio software. The webcast also will be available on the Investor page of DMC’s website, located at: ir.dmcglobal.com. A replay of the webcast will be available for six months.

    *Use of Non-GAAP Financial Measures

    In addition to disclosing financial results that are determined in accordance with generally accepted accounting principles in the United States (GAAP), DMC also discloses certain non-GAAP financial measures that we use in operational and financial decision making. Non-GAAP financial measures include the following:

    • EBITDA: defined as net income (loss) plus net interest, taxes, depreciation and amortization.
    • Adjusted EBITDA: excludes from EBITDA stock-based compensation, restructuring expenses and asset impairment charges (if applicable) and, when appropriate, nonrecurring items that management does not utilize in assessing DMC’s operating performance (as further described in the tables below).
    • Adjusted EBITDA attributable to DMC Global Inc.: excludes the Adjusted EBITDA attributable to the 40% redeemable noncontrolling interest in Arcadia Products.
    • Adjusted EBITDA for DMC business segments: defined as operating income (loss) plus depreciation, amortization, allocated stock-based compensation (if applicable), restructuring expenses and asset impairment charges (if applicable) and, when appropriate, nonrecurring items that management does not utilize in assessing DMC's operating performance.
    • Adjusted net income (loss): defined as net income (loss) attributable to DMC Global Inc. stockholders prior to the adjustment of redeemable noncontrolling interest plus restructuring expenses and asset impairment charges (if applicable) and, when appropriate, nonrecurring items that management does not utilize in assessing DMC’s operating performance.
    • Adjusted diluted earnings per share: defined as diluted earnings per share attributable to DMC Global Inc. stockholders (exclusive of adjustment of redeemable noncontrolling interest) plus restructuring expenses and asset impairment charges (if applicable) and, when appropriate, nonrecurring items that management does not utilize in assessing DMC's operating performance.
    • Net debt: defined as total debt less total cash, cash equivalents and marketable securities.
    • Free-cash flow: defined as cash flows from operating activities less net acquisitions of property, plant and equipment.

    Management believes providing these additional financial measures is useful to investors in understanding DMC’s operating performance, excluding the effects of restructuring, impairment, and other nonrecurring charges, as well as its liquidity. Management typically monitors the business utilizing the above non-GAAP measures, in addition to GAAP results, to understand and compare operating results across accounting periods, and certain management incentive awards are based, in part, on these measures. The presence of non-GAAP financial measures in this report is not intended to suggest that such measures be considered in isolation or as a substitute for, or as superior to, DMC’s GAAP information, and investors are cautioned that the non-GAAP financial measures are limited in their usefulness.

    Because not all companies use identical calculations, DMC’s presentation of non-GAAP financial measures may not be comparable to other similarly titled measures of other companies. However, these measures can still be useful in evaluating the company’s performance against its peer companies because management believes the measures provide users with valuable insight into key components of GAAP financial disclosures. For example, a company with greater GAAP net income may not be as appealing to investors if its net income is more heavily comprised of gains on asset sales. Likewise, eliminating the effects of interest income and expense moderates the impact of a company’s capital structure on its performance.

    DMC is unable to reconcile its expected second quarter 2025 adjusted EBITDA attributable to DMC to the most directly comparable projected GAAP financial measure because certain information necessary to calculate such measure on a GAAP basis is unavailable or dependent on the timing of future events outside of DMC’s control. Therefore, because of the uncertainty and variability of the nature of and the amount of any potential applicable future adjustments, which could be significant, DMC is unable to provide a reconciliation for expected adjusted EBITDA attributable to DMC without unreasonable efforts.

    About DMC Global Inc.

    DMC Global is an owner and operator of innovative, asset-light manufacturing businesses that provide unique, highly engineered products and differentiated solutions. DMC’s businesses have established leadership positions in their respective markets and consist of: Arcadia, a leading supplier of architectural building products; DynaEnergetics, which serves the global energy industry; and NobelClad, which addresses the global industrial infrastructure and transportation sectors. Based in Broomfield, Colorado, DMC trades on Nasdaq under the symbol “BOOM.” For more information, visit: http://www.dmcglobal.com/.

    Safe Harbor Language

    Except for the historical information contained herein, this news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including second quarter 2025 guidance on sales, adjusted EBITDA and the expected second quarter 2025 results (including billings) and underlying assumptions for each of Arcadia, DynaEnergetics and NobelClad. Such statements and information are based on numerous assumptions regarding present and future business strategies, the markets in which we operate, anticipated costs and the ability to achieve goals. Forward-looking information and statements are subject to known and unknown risks, uncertainties and other important factors that may cause actual results and performance to be materially different from those expressed or implied by such forward-looking information and statements, including but not limited to: our ability to realize sales from our backlog; our ability to obtain new contracts at attractive prices; the execution of purchase commitments by our customers, and our ability to successfully deliver on those purchase commitments; the size and timing of customer orders and shipments; the timely completion of contracts; changes to customer orders; product pricing and margins; fluctuations in customer demand; our ability to successfully navigate slowdowns in market activity or execute and capitalize upon growth opportunities; the success of DynaEnergetics’ product, technology, and margin enhancement initiatives; our ability to successfully protect our technology and intellectual property and the costs associated with these efforts; consolidation among DynaEnergetics’ customers; fluctuations in foreign currencies; fluctuations in tariffs and quotas; the cost and availability of energy; the cyclicality of our business; competitive factors; the timing and size of expenditures; the timing and price of metal and other raw material; the adequacy of local labor supplies at our facilities; our ability to attract and retain key personnel; current or future limits on manufacturing capacity at our various operations; government actions or other changes in laws and regulations; the availability and cost of funds; our ability to access our borrowing capacity under our credit facility; geopolitical and economic instability, including recessions, depressions, wars or other military actions; inflation; supply chain delays and disruptions; transportation disruptions; general economic conditions, both domestic and foreign, impacting our business and the business of our customers and the end-market users we serve; the potential effects of activist stockholder actions and actions that we may take to discourage takeover attempts, as well as the other risks detailed from time to time in our SEC reports, including the annual report on Form 10-K for the year ended December 31, 2024. We do not undertake any obligation to release public revisions to any forward-looking statement, including, without limitation, to reflect events or circumstances after the date of this news release, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.

     
    DMC GLOBAL INC.
    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
    (Amounts in Thousands, Except Share and Per Share Data)
    (unaudited)
     
      Three months ended Change
      Mar 31, 2025 Dec 31, 2024 Mar 31, 2024 Sequential Year-on-year
    NET SALES $159,290  $152,374  $166,869  5%  (5)% 
    COST OF PRODUCTS SOLD  118,091   120,675   124,517  (2)%  (5)% 
    Gross profit  41,199   31,699   42,352  30%  (3)% 
    Gross profit percentage  25.9%   20.8%   25.4%     
    COSTS AND EXPENSES:          
    General and administrative expenses  16,674   15,449   15,980  8%  4% 
    Selling and distribution expenses  11,626   9,677   12,223  20%  (5)% 
    Amortization of purchased intangible assets  4,763   5,278   5,292  (10)%  (10)% 
    Strategic review and related expenses  1,298   1,813   2,169  (28)%  (40)% 
    Restructuring expenses and asset impairments  325   178   —  83%  100% 
    Total costs and expenses  34,686   32,395   35,664  7%  (3)% 
    OPERATING INCOME (LOSS)  6,513   (696)   6,688  1,036%  (3)% 
    OTHER EXPENSE:          
    Other (expense) income, net  (218)   145   (409)  250%  (47)% 
    Interest expense, net  (1,699)   (1,918)   (2,317)  (11)%  (27)% 
    INCOME (LOSS) BEFORE INCOME TAXES  4,596   (2,469)   3,962  286%  16% 
    INCOME TAX PROVISION (BENEFIT)  2,733   (1,313)   1,643  308%  66% 
    NET INCOME (LOSS)  1,863   (1,156)   2,319  261%  (20)% 
    Less: Net income (loss) attributable to redeemable noncontrolling interest  1,186   (1,452)   (244)  182%  586% 
    NET INCOME ATTRIBUTABLE TO DMC GLOBAL INC. STOCKHOLDERS $677  $296  $2,563  129%  (74)% 
    NET INCOME (LOSS) PER SHARE ATTRIBUTABLE TO DMC GLOBAL INC. STOCKHOLDERS        
    Basic $0.04  $(0.17)  $0.01  124%  300% 
    Diluted $0.04  $(0.17)  $0.01  124%  300% 
    WEIGHTED AVERAGE SHARES OUTSTANDING:          
    Basic  19,812,161   19,730,643   19,610,644  —%  1% 
    Diluted  19,816,281   19,730,643   19,622,455  —%  1% 


    Reconciliation to net income (loss) attributable to DMC Global Inc. stockholders after adjustment of redeemable noncontrolling interest for purposes of calculating earnings per share

      Three months ended
      Mar 31, 2025 Dec 31, 2024 Mar 31, 2024
    Net income attributable to DMC Global Inc. stockholders $677  $296  $2,563 
    Adjustment of redeemable noncontrolling interest  81   (1,059)   (2,307) 
    Deemed dividend  —   (2,500)   — 
    Net income (loss) attributable to DMC Global Inc. stockholders after adjustment of redeemable noncontrolling interest $758  $(3,263)  $256 


    DMC GLOBAL INC.
    SEGMENT STATEMENTS OF OPERATIONS
    (Amounts in Thousands)
    (unaudited)

    Arcadia

      Three months ended Change
      Mar 31, 2025 Dec 31, 2024 Mar 31, 2024 Sequential Year-on-year
    Net sales $65,580  $60,272  $61,925  9%  6% 
    Gross profit  20,361   13,493   16,813  51%  21% 
    Gross profit percentage  31.0%   22.4%   27.2%      
    COSTS AND EXPENSES:           
    General and administrative expenses  7,459   8,237   7,656  (9)%  (3)% 
    Selling and distribution expenses  4,818   3,505   4,468  37%  8% 
    Amortization of purchased intangible assets  4,763   5,278   5,277  (10)%  (10)% 
    Restructuring expenses and asset impairments  325   118   —  175%  100% 
    Operating income (loss)  2,996   (3,645)   (588)  182%  610% 
    Adjusted EBITDA  9,327   3,737   5,906  150%  58% 
    Less: adjusted EBITDA attributable to redeemable noncontrolling interest  (3,731)   (1,494)   (2,362)  150%  58% 
    Adjusted EBITDA attributable to DMC Global Inc. $5,596  $2,243  $3,544  149%  58% 


    DynaEnergetics

      Three months ended Change
      Mar 31, 2025 Dec 31, 2024 Mar 31, 2024 Sequential Year-on-year
    Net sales $65,551  $63,675  $78,122  3%  (16)% 
    Gross profit  12,811   9,604   16,971  33%  (25)% 
    Gross profit percentage  19.5%   15.1%   21.7%     
    COSTS AND EXPENSES:          
    General and administrative expenses  2,747   2,634   2,891  4%  (5)% 
    Selling and distribution expenses  4,476   3,588   5,223  25%  (14)% 
    Amortization of purchased intangible assets  —   —   15  —%  (100)% 
    Restructuring expenses and asset impairments  —   60   —  (100)%  —% 
    Operating income  5,588   3,322   8,842  68%  (37)% 
    Adjusted EBITDA $7,379  $5,098  $10,539  45%  (30)% 


    NobelClad

      Three months ended Change
      Mar 31, 2025 Dec 31, 2024 Mar 31, 2024 Sequential Year-on-year
    Net sales $28,159  $28,427  $26,822  (1)%  5% 
    Gross profit  8,097   8,676   8,644  (7)%  (6)% 
    Gross profit percentage  28.8%   30.5%   32.2%     
    COSTS AND EXPENSES:          
    General and administrative expenses  1,192   1,092   1,074  9%  11% 
    Selling and distribution expenses  2,283   2,534   2,470  (10)%  (8)% 
    Operating income  4,622   5,050   5,100  (8)%  (9)% 
    Adjusted EBITDA $5,416  $5,848  $5,880  (7)%  (8)% 


    DMC GLOBAL INC.
    CONDENSED CONSOLIDATED BALANCE SHEETS
    (Amounts in Thousands)
     
          Change
      Mar 31, 2025 Dec 31, 2024 Year-end
      (unaudited)       
    ASSETS         
              
    Cash and cash equivalents $14,705  $14,289  3% 
    Accounts receivable, net  114,470   103,361  11% 
    Inventories  148,735   152,580  (3)% 
    Prepaid expenses and other  18,999   18,792  1% 
              
    Total current assets  296,909   289,022  3% 
              
    Property, plant and equipment, net  128,955   129,276  —% 
    Purchased intangible assets, net  169,341   174,104  (3)% 
    Other long-term assets  75,435   78,935  (4)% 
              
    Total assets $670,640  $671,337  —% 
              
    LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST, AND STOCKHOLDERS’ EQUITY  
              
    Accounts payable $45,514  $45,059  1% 
    Contract liabilities  18,538   23,162  (20)% 
    Accrued income taxes  9,486   7,574  25% 
    Current portion of long-term debt  2,500   2,500  —% 
    Other current liabilities  35,725   35,807  —% 
              
    Total current liabilities  111,763   114,102  (2)% 
              
    Long-term debt  69,921   68,318  2% 
    Deferred tax liabilities  728   711  2% 
    Other long-term liabilities  47,225   50,155  (6)% 
    Redeemable noncontrolling interest  187,080   187,080  —% 
    Stockholders’ equity  253,923   250,971  1% 
              
    Total liabilities, redeemable noncontrolling interest, and stockholders’ equity $670,640  $671,337  —% 


    DMC GLOBAL INC.
    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
    (Amounts in Thousands)
    (unaudited)
     
      Three months ended
      Mar 31, 2025 Dec 31, 2024 Mar 31, 2024
    CASH FLOWS FROM OPERATING ACTIVITIES:        
    Net income (loss) $1,863  $(1,156)  $2,319 
    Adjustments to reconcile net income (loss) to net cash from operating activities:      
    Depreciation  3,660   3,597   3,419 
    Amortization of purchased intangible assets  4,763   5,278   5,292 
    Amortization of deferred debt issuance costs  217   217   190 
    Stock-based compensation  1,599   1,799   1,549 
    Bad debt expense  706   (49)   476 
    Deferred income taxes  22   (515)   (546) 
    Asset impairments  —   138   — 
    Other  555   (1,242)   (985) 
    Change in working capital, net  (8,897)   3,744   1,726 
    Net cash provided by operating activities  4,488   11,811   13,440 
    CASH FLOWS FROM INVESTING ACTIVITIES:        
    Proceeds from maturities of marketable securities  —   —   3,000 
    Proceeds from sales of marketable securities  —   —   9,619 
    Acquisition of property, plant and equipment  (3,779)   (5,684)   (2,968) 
    Proceeds from property, plant and equipment reimbursements  426   587   — 
    Proceeds on sale of property, plant and equipment  21   3   — 
    Net cash (used in) provided by investing activities  (3,332)   (5,094)   9,651 
    CASH FLOWS FROM FINANCING ACTIVITIES:        
    Repayments on term loan  (625)   (625)   (117,500) 
    Borrowings on term loan  —   —   50,000 
    Borrowings on revolving loans  8,500   12,500   70,450 
    Repayments on revolving loans  (6,375)   (15,375)   (30,450) 
    Payment of debt issuance costs  —   —   (2,735) 
    Distributions to redeemable noncontrolling interest holder  (1,151)   (124)   (3,125) 
    Payment of deemed dividend to noncontrolling interest holder  —   (2,500)   — 
    Treasury stock purchases  (484)   (240)   (936) 
    Net cash used in financing activities  (135)   (6,364)   (34,296) 
    EFFECTS OF EXCHANGE RATES ON CASH  (605)   (575)   609 
    NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS  416   (222)   (10,596) 
    CASH AND CASH EQUIVALENTS, beginning of the period  14,289   14,511   31,040 
    CASH AND CASH EQUIVALENTS, end of the period $14,705  $14,289  $20,444 


    DMC GLOBAL INC.
    RECONCILIATIONS OF NON-GAAP FINANCIAL MEASUREMENTS TO MOST
    DIRECTLY COMPARABLE GAAP FINANCIAL MEASUREMENTS
    (Amounts in Thousands)
    (unaudited)

    DMC Global

    EBITDA and Adjusted EBITDA

      Three months ended Change
      Mar 31, 2025 Dec 31, 2024 Mar 31, 2024 Sequential Year-on-year
    Net income (loss)  1,863   (1,156)  2,319  261%  (20)% 
    Interest expense, net  1,699   1,918   2,317  (11)%  (27)% 
    Income tax provision (benefit)  2,733   (1,313)  1,643  308%  66% 
    Depreciation  3,660   3,597   3,419  2%  7% 
    Amortization of purchased intangible assets  4,763   5,278   5,292  (10)%  (10)% 
    EBITDA  14,718   8,324   14,990  77%  (2)% 
    Stock-based compensation  1,563   1,706   1,477  (8)%  6% 
    Strategic review and related expenses  1,298   1,813   2,169  (28)%  (40)% 
    Restructuring expenses and asset impairments  325   178   —  83%  100% 
    Other expense (income), net  218   (145)  409  250%  (47)% 
    Adjusted EBITDA $18,122  $11,876  $19,045  53%  (5)% 
    Less: adjusted EBITDA attributable to redeemable noncontrolling interest  (3,731)  (1,494)  (2,362) 150%  58% 
    Adjusted EBITDA attributable to DMC Global Inc. $14,391  $10,382  $16,683  39%  (14)% 


    DMC GLOBAL INC.
    RECONCILIATIONS OF NON-GAAP FINANCIAL MEASUREMENTS TO MOST
    DIRECTLY COMPARABLE GAAP FINANCIAL MEASUREMENTS
    (Amounts in Thousands)
    (unaudited)

    Adjusted Net Income* and Adjusted Diluted Earnings per Share

    *Net income attributable to DMC Global Inc. stockholders prior to the adjustment of redeemable noncontrolling interest for purposes of calculating earnings per share

      Three months ended March 31, 2025
      Amount Per Share(1)
    Net income attributable to DMC Global Inc. stockholders* $677  $0.03 
    Strategic review and related expenses, net of tax  1,298   0.07 
    Restructuring expenses, net of tax  195   0.01 
    As adjusted $2,170  $0.11 

    (1) Calculated using diluted weighted average shares outstanding of 19,816,281

      Three months ended December 31, 2024
      Amount Per Share (1)
    Net income attributable to DMC Global Inc. stockholders* $296  $0.02 
    Strategic review and related expenses, net of tax  1,360   0.07 
    Restructuring expenses and asset impairments, net of tax  98   — 
    As adjusted $1,754  $0.09 

    (1) Calculated using diluted weighted average shares outstanding of 19,730,643

      Three months ended March 31, 2024
      Amount Per Share(1)
    Net income attributable to DMC Global Inc. stockholders* $2,563  $0.13 
    Strategic review and related expenses, net of tax  1,604   0.08 
    As adjusted $4,167  $0.21 

    (1) Calculated using diluted weighted average shares outstanding of 19,622,455


    DMC GLOBAL INC.
    RECONCILIATIONS OF NON-GAAP FINANCIAL MEASUREMENTS TO MOST
    DIRECTLY COMPARABLE GAAP FINANCIAL MEASUREMENTS
    (Amounts in Thousands)

    (unaudited)

    Segment Adjusted EBITDA

    Arcadia

      Three months ended Change
      Mar 31, 2025 Dec 31, 2024 Mar 31, 2024 Sequential Year-on-year
    Operating income (loss), as reported $2,996  $(3,645) $(588) 182%  610% 
    Adjustments:          
    Depreciation  1,006   1,004   875  —%  15% 
    Amortization of purchased intangible assets  4,763   5,278   5,277  (10)%  (10)% 
    Stock-based compensation  237   982   342  (76)%  (31)% 
    Restructuring expenses and asset impairments  325   118   —  175%  100% 
    Adjusted EBITDA  9,327   3,737   5,906  150%  58% 
    Less: adjusted EBITDA attributable to redeemable noncontrolling interest  (3,731)  (1,494)  (2,362) 150%  58% 
    Adjusted EBITDA attributable to DMC Global Inc. $5,596  $2,243  $3,544  149%  58% 


    DynaEnergetics

      Three months ended Change
      Mar 31, 2025 Dec 31, 2024 Mar 31, 2024 Sequential Year-on-year
    Operating income, as reported $5,588  $3,322  $8,842  68%  (37)% 
    Adjustments:          
    Depreciation  1,791   1,716   1,682  4%  6% 
    Amortization of purchased intangible assets  —   —   15  —%  (100)% 
    Restructuring expenses and asset impairments  —   60   —  (100)%  —% 
    Adjusted EBITDA $7,379  $5,098  $10,539  45%  (30)% 


    NobelClad

      Three months ended Change
      Mar 31, 2025 Dec 31, 2024 Mar 31, 2024 Sequential Year-on-year
    Operating income, as reported $4,622  $5,050  $5,100  (8)  (9)% 
    Adjustments:           
    Depreciation  794   798   780  (1)%  2% 
    Adjusted EBITDA $5,416  $5,848  $5,880  (7)%  (8)% 


    CONTACT:
    Geoff High, Vice President of Investor Relations
    303-604-3924


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