DMC Global Reports Second Quarter Financial Results

Second quarter sales were $157.0 million
Net income attributable to DMC was $0.5 million, or $0.10 per diluted share
Adjusted EBITDA attributable to DMC* was $10.7 million

BROOMFIELD, Colo., July 29, 2026 (GLOBE NEWSWIRE) -- DMC Global Inc. (Nasdaq: BOOM) today reported financial results for its second quarter ended June 30, 2026.

Consolidated sales and adjusted EBITDA attributable to DMC were at or above the high end of management's forecasts, driven by meaningfully improved results at Arcadia Products, DMC’s building products business, which delivered its strongest sales performance since the second quarter of 2024. Second quarter consolidated sales were $157.0 million, level with the 2025 second quarter and up 16% sequentially. Adjusted EBITDA attributable to DMC was $10.7 million, down 21% versus the 2025 second quarter, and up 174% sequentially. The year-over-year decline in adjusted EBITDA was driven by unfavorable mix, higher input costs and price pressure at DynaEnergetics, DMC’s energy products business.

The commercial construction market, particularly for larger, longer-term project business, remains highly challenged as reflected by the American Institute of Architects’ Architectural Billings Index, which has gone a record 41 consecutive months without a majority of firms reporting billings growth. Despite this, Arcadia reported second quarter sales of $67.4 million, up 9% versus the year-ago second quarter, and up 19% sequentially. Adjusted EBITDA attributable to DMC was $5.5 million, up 36% year over year and up 135% sequentially due to higher sales and improved fixed cost absorption.

Arcadia’s improved performance was driven by successful efforts to strengthen its short-cycle commercial product line through improved product availability and service across its network of regional service centers. The high-end residential windows and door line also reported improved year-over-year performance. Meanwhile, Arcadia’s sales also benefitted from higher average aluminum prices, which were up 79% year over year and 11% sequentially.

DynaEnergetics reported second quarter sales of $67.4 million, flat versus the year-ago second quarter, and up 13% sequentially. Adjusted EBITDA, which included $1.5 million in tariff refunds, was $5.6 million, down 37% from the 2025 second quarter and up 105% from the prior quarter. The sequential increase was driven by sales growth and tariff refunds, while the year-over-year decline resulted from previously mentioned unfavorable mix, input-cost and price factors.

Demand at DynaEnergetics remains steady across its North American and international markets. DynaEnergetics also recently completed the first customer deliveries of a new perforating system purpose-built for Enhanced Geothermal Systems (EGS) applications, which often involve large wellbores and extreme downhole conditions.

At NobelClad, DMC’s composite metals business, second quarter sales were $22.2 million, down 17% versus last year’s second quarter, but up 15% sequentially. Second quarter sales were negatively impacted by customer delays in taking delivery of certain clad-plate orders. Adjusted EBITDA was $3.0 million, down 31% year over year, but up 60% versus the prior quarter. NobelClad ended the second quarter with an order backlog of $63.5 million versus $70.3 million at the end of the 2026 first quarter. Shipments from NobelClad’s backlog are expected to improve during the third quarter as customer delays in delivery acceptance abate.

“Although each of our businesses continues to be impacted by difficult end market conditions, we benefitted from specific improvement initiatives discussed in prior quarters, most notably at Arcadia,” said James O’Leary, president and CEO. Looking ahead, both DynaEnergetics and NobelClad should benefit as market headwinds begin to ease. Finally, I would like to thank our associates for their continued hard work and focus during the most recent quarter.”

Guidance
Third quarter sales are expected to be in a range of $158 million to $168 million, with adjusted EBITDA attributable to DMC anticipated in a range of $10 million to $13 million. The expected sequential improvements reflect steady performance at Arcadia, expected increases in well completion activity in DynaEnergetics’ oil and gas and EGS markets, and increased project shipments at NobelClad. DMC’s third quarter guidance does not contemplate increased disruptions in international supply chains due to ongoing hostilities in the Middle East, which could impact both DynaEnergetics and NobelClad, continued volatility in aluminum input costs at Arcadia, or generally weaker end market conditions.

This guidance remains highly dependent on macroeconomic conditions, particularly within DMC’s core energy and construction markets, and may change—either positively or negatively—as these volatile factors evolve throughout 2026.

Summary Second Quarter Results

	Three months ended									Change
	Jun 30, 2026			Mar 31, 2026			Jun 30, 2025			Sequential		Year-on-year
Net sales	$	156,953		$	135,595		$	155,487		16	%	1		%
Gross profit percentage		21.9	%		18.8	%		23.6	%
SG&A	$	24,541		$	24,604		$	26,147		—	%	(6	)	%
Net income (loss)	$	2,017		$	(6,810	)	$	321		130	%	528		%
Net income (loss) attributable to DMC	$	507		$	(6,065	)	$	116		108	%	337		%
Diluted net income (loss) per share attributable to DMC	$	0.10		$	(0.34	)	$	(0.24	)	129	%	142		%
Adjusted net income (loss) attributable to DMC	$	727		$	(5,697	)	$	2,473		113	%	(71	)	%
Adjusted diluted net income (loss) per share	$	0.04		$	(0.28	)	$	0.12		114	%	(67	)	%
Adjusted EBITDA attributable to DMC	$	10,673		$	3,895		$	13,538		174	%	(21	)	%
Adjusted EBITDA before NCI allocation	$	14,333		$	5,456		$	16,228		163	%	(12	)	%
Adjusted EBITDA before NCI allocation margin		9.1	%		4.0	%		10.4	%

Arcadia Products

	Three months ended									Change
	Jun 30, 2026			Mar 31, 2026			Jun 30, 2025			Sequential		Year-on-year
Net sales	$	67,419		$	56,706		$	61,980		19	%	9	%
Gross profit percentage		27.7	%		24.1	%		26.2	%
Adjusted EBITDA attributable to DMC	$	5,490		$	2,341		$	4,035		135	%	36	%
Adjusted EBITDA before NCI allocation	$	9,150		$	3,902		$	6,725		134	%	36	%
Adjusted EBITDA before NCI allocation margin		13.6	%		6.9	%		10.9	%

DynaEnergetics

	Three months ended									Change
	Jun 30, 2026			Mar 31, 2026			Jun 30, 2025			Sequential		Year-on-year
Net sales	$	67,383		$	59,547		$	66,862		13	%	1		%
Gross profit percentage		15.9	%		12.6	%		20.9	%
Adjusted EBITDA	$	5,638		$	2,746		$	8,979		105	%	(37	)	%
Adjusted EBITDA margin		8.4	%		4.6	%		13.4	%

NobelClad

	Three months ended									Change
	Jun 30, 2026			Mar 31, 2026			Jun 30, 2025			Sequential		Year-on-year
Net sales	$	22,151		$	19,342		$	26,645		15	%	(17	)	%
Gross profit percentage		22.6	%		22.6	%		24.7	%
Adjusted EBITDA	$	3,032		$	1,893		$	4,399		60	%	(31	)	%
Adjusted EBITDA margin		13.7	%		9.8	%		16.5	%

NobelClad's rolling 12-month bookings were $106.9 million, and the 12-month book-to-bill ratio was 1.33.

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=JzbhrP5f

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 consolidated cash and cash equivalents per the Condensed Consolidated Balance Sheets.

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 third quarter 2026 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 Products, 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 third quarter 2026 guidance on sales and adjusted EBITDA attributable to DMC; the expectation of accelerated order shipments at NobelClad as delays in order acceptance by customers is expected to abate; the expected easing of macroeconomic headwinds at DynaEnergetics and NobelClad; the expected increase in well completion activity in DynaEnergetics’ end markets, and the expected steady performance in results at Arcadia. 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: changes in global economic conditions, including tariffs or reciprocal tariffs; our ability to obtain new contracts at attractive prices; the size and timing of customer orders and shipments; product pricing and margins; our ability to realize sales from our backlog and our ability to adjust our manufacturing and supply chain; fluctuations in customer demand; our ability to manage periods of growth and contraction effectively; general economic conditions, both domestic and foreign, impacting our business and the business of the end-market users we serve; competitive factors; the timely completion of contracts; the timing and size of expenditures; the timely receipt of government approvals and permits; the price and availability of metal and other raw materials; the adequacy of local labor supplies at our facilities; current or future limits on manufacturing capacity at our various operations; the impact of catastrophic weather events on our business and that of our customers; the ability to remain an innovative leader in our fields of business; the costs and impacts of pending or future litigation or regulatory matters; changes to legislation, regulation or public sentiment related to our business and the industries in which our customers operate; the impacts of trade and economic sanctions or other restrictions imposed by the European Union, the United States or other countries; costs and risks associated with compliance with laws and regulations, including the United States Foreign Corrupt Practices Act and similar legislation; the availability and cost of funds; fluctuations in foreign currencies; actions of activist stockholders or others; the impact of our stockholder protection rights agreement, which includes terms and conditions that could discourage a takeover or other transaction that stockholders may consider favorable, 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, 2025. 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
	Jun 30, 2026			Mar 31, 2026			Jun 30, 2025			Sequential			Year-on-year
NET SALES	$	156,953		$	135,595		$	155,487		16		%	1		%
COST OF PRODUCTS SOLD		122,598			110,152			118,756		11		%	3		%
Gross profit		34,355			25,443			36,731		35		%	(6	)	%
Gross profit percentage		21.9	%		18.8	%		23.6	%
COSTS AND EXPENSES:
General and administrative expenses		13,916			14,132			15,905		(2	)	%	(13	)	%
Selling and distribution expenses		10,625			10,472			10,242		1		%	4		%
Amortization of purchased intangible assets		4,357			4,356			4,763		—		%	(9	)	%
Strategic review and related expenses		—			—			775		—		%	(100	)	%
Restructuring expenses and asset impairments		239			566			1,149		(58	)	%	(79	)	%
Total costs and expenses		29,137			29,526			32,834		(1	)	%	(11	)	%
OPERATING INCOME (LOSS)		5,218			(4,083	)		3,897		228		%	34		%
OTHER EXPENSE:
Other income (expense), net		15			(45	)		(346	)	133		%	104		%
Interest expense, net		(1,280	)		(1,461	)		(1,811	)	(12	)	%	(29	)	%
INCOME (LOSS) BEFORE INCOME TAXES		3,953			(5,589	)		1,740		171		%	127		%
INCOME TAX PROVISION		1,936			1,221			1,419		59		%	36		%
NET INCOME (LOSS)		2,017			(6,810	)		321		130		%	528		%
Less: Net income (loss) attributable to redeemable noncontrolling interest		1,510			(745	)		205		303		%	637		%
NET INCOME (LOSS) ATTRIBUTABLE TO DMC GLOBAL INC. STOCKHOLDERS	$	507		$	(6,065	)	$	116		108		%	337		%
NET INCOME (LOSS) PER SHARE ATTRIBUTABLE TO DMC GLOBAL INC. STOCKHOLDERS
Basic	$	0.10		$	(0.34	)	$	(0.24	)	129		%	142		%
Diluted	$	0.10		$	(0.34	)	$	(0.24	)	129		%	142		%
WEIGHTED AVERAGE SHARES OUTSTANDING:
Basic		20,199,424			20,066,158			20,134,760		1		%	—		%
Diluted		20,235,822			20,066,158			20,134,760		1		%	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
	Jun 30, 2026		Mar 31, 2026			Jun 30, 2025
Net income (loss) attributable to DMC Global Inc. stockholders	$	507	$	(6,065	)	$	116
Adjustment of redeemable noncontrolling interest		1,541		(735	)		(4,900	)
Net income (loss) attributable to DMC Global Inc. stockholders after adjustment of redeemable noncontrolling interest	$	2,048	$	(6,800	)	$	(4,784	)

	Six months ended						Change
	Jun 30, 2026			Jun 30, 2025			Year-on-year
NET SALES	$	292,548		$	314,777		(7	)	%
COST OF PRODUCTS SOLD		232,750			236,847		(2	)	%
Gross profit		59,798			77,930		(23	)	%
Gross profit percentage		20.4	%		24.8	%
COSTS AND EXPENSES:
General and administrative expenses		28,048			32,579		(14	)	%
Selling and distribution expenses		21,097			21,868		(4	)	%
Amortization of purchased intangible assets		8,713			9,526		(9	)	%
Strategic review and related expenses		—			2,073		(100	)	%
Restructuring expenses and asset impairments		805			1,474		(45	)	%
Total costs and expenses		58,663			67,520		(13	)	%
OPERATING INCOME		1,135			10,410		(89	)	%
OTHER EXPENSE:
Other expense, net		(30	)		(564	)	(95	)	%
Interest expense, net		(2,741	)		(3,510	)	(22	)	%
(LOSS) INCOME BEFORE INCOME TAXES		(1,636	)		6,336		126		%
INCOME TAX PROVISION		3,157			4,152		(24	)	%
NET (LOSS) INCOME		(4,793	)		2,184		319		%
Less: Net income attributable to redeemable noncontrolling interest		765			1,391		(45	)	%
NET (LOSS) INCOME ATTRIBUTABLE TO DMC GLOBAL INC. STOCKHOLDERS	$	(5,558	)	$	793		801		%
NET LOSS PER SHARE ATTRIBUTABLE TO DMC GLOBAL INC. STOCKHOLDERS
Basic	$	(0.24	)	$	(0.20	)	20		%
Diluted	$	(0.24	)	$	(0.20	)	20		%
WEIGHTED AVERAGE SHARES OUTSTANDING:
Basic		20,133,159			19,861,073		1		%
Diluted		20,133,159			19,861,073		1		%

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

	Six months ended
	Jun 30, 2026			Jun 30, 2025
Net (loss) income attributable to DMC Global Inc. stockholders	$	(5,558	)	$	793
Adjustment of redeemable noncontrolling interest		806			(4,819	)
Net loss attributable to DMC Global Inc. stockholders after adjustment of redeemable noncontrolling interest	$	(4,752	)	$	(4,026	)

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

Arcadia Products

	Three months ended									Change
	Jun 30, 2026			Mar 31, 2026			Jun 30, 2025			Sequential			Year-on-year
Net sales	$	67,419		$	56,706		$	61,980		19		%	9		%
Gross profit		18,664			13,665			16,250		37		%	15		%
Gross profit percentage		27.7	%		24.1	%		26.2	%
COSTS AND EXPENSES:
General and administrative expenses		6,205			6,431			6,489		(4	)	%	(4	)	%
Selling and distribution expenses		4,410			4,385			4,290		1		%	3		%
Amortization of purchased intangible assets		4,357			4,356			4,763		—		%	(9	)	%
Restructuring expenses and asset impairments		47			495			192		(91	)	%	(76	)	%
Operating income (loss)		3,645			(2,002	)		516		282		%	606		%
Adjusted EBITDA		9,150			3,902			6,725		134		%	36		%
Less: adjusted EBITDA attributable to redeemable noncontrolling interest		(3,660	)		(1,561	)		(2,690	)	134		%	36		%
Adjusted EBITDA attributable to DMC Global Inc.	$	5,490		$	2,341		$	4,035		135		%	36		%

	Six months ended						Change
	Jun 30, 2026			Jun 30, 2025			Year-on-year
Net sales	$	124,125		$	127,560		(3	)	%
Gross profit		32,329			36,611		(12	)	%
Gross profit percentage		26.0	%		28.7	%
COSTS AND EXPENSES:
General and administrative expenses		12,636			13,949		(9	)	%
Selling and distribution expenses		8,795			9,107		(3	)	%
Amortization of purchased intangible assets		8,713			9,526		(9	)	%
Restructuring expenses and asset impairments		542			517		5		%
Operating income		1,643			3,512		(53	)	%
Adjusted EBITDA		13,052			16,052		(19	)	%
Less: adjusted EBITDA attributable to redeemable noncontrolling interest		(5,221	)		(6,421	)	(19	)	%
Adjusted EBITDA attributable to DMC Global Inc.	$	7,831		$	9,631		(19	)	%

DynaEnergetics

	Three months ended									Change
	Jun 30, 2026			Mar 31, 2026			Jun 30, 2025			Sequential			Year-on-year
Net sales	$	67,383		$	59,547		$	66,862		13		%	1		%
Gross profit		10,714			7,505			13,959		43		%	(23	)	%
Gross profit percentage		15.9	%		12.6	%		20.9	%
COSTS AND EXPENSES:
General and administrative expenses		2,619			2,640			3,028		(1	)	%	(14	)	%
Selling and distribution expenses		4,101			3,882			3,774		6		%	9		%
Restructuring expenses and asset impairments		67			71			746		(6	)	%	(91	)	%
Operating income		3,927			912			6,411		331		%	(39	)	%
Adjusted EBITDA	$	5,638		$	2,746		$	8,979		105		%	(37	)	%

	Six months ended						Change
	Jun 30, 2026			Jun 30, 2025			Year-on-year
Net sales	$	126,930		$	132,413		(4	)	%
Gross profit		18,219			26,770		(32	)	%
Gross profit percentage		14.4	%		20.2	%
COSTS AND EXPENSES:
General and administrative expenses		5,259			5,775		(9	)	%
Selling and distribution expenses		7,983			8,250		(3	)	%
Restructuring expenses and asset impairments		138			746		(82	)	%
Operating income		4,839			11,999		(60	)	%
Adjusted EBITDA	$	8,384		$	16,358		(49	)	%

NobelClad

	Three months ended									Change
	Jun 30, 2026			Mar 31, 2026			Jun 30, 2025			Sequential			Year-on-year
Net sales	$	22,151		$	19,342		$	26,645		15		%	(17	)	%
Gross profit		5,010			4,377			6,593		14		%	(24	)	%
Gross profit percentage		22.6	%		22.6	%		24.7	%
COSTS AND EXPENSES:
General and administrative expenses		746			1,168			852		(36	)	%	(12	)	%
Selling and distribution expenses		2,081			2,157			2,123		(4	)	%	(2	)	%
Restructuring expenses and asset impairments		—			—			211		—		%	(100	)	%
Operating income		2,183			1,052			3,407		108		%	(36	)	%
Adjusted EBITDA	$	3,032		$	1,893		$	4,399		60		%	(31	)	%

	Six months ended						Change
	Jun 30, 2026			Jun 30, 2025			Year-on-year
Net sales	$	41,493		$	54,804		(24	)	%
Gross profit		9,387			14,690		(36	)	%
Gross profit percentage		22.6	%		26.8	%
COSTS AND EXPENSES:
General and administrative expenses		1,914			2,043		(6	)	%
Selling and distribution expenses		4,238			4,407		(4	)	%
Restructuring expenses and asset impairments		—			211		(100	)	%
Operating income		3,235			8,029		(60	)	%
Adjusted EBITDA	$	4,925		$	9,815		(50	)	%

DMC GLOBAL INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Amounts in Thousands)

							Change
	Jun 30, 2026		Mar 31, 2026		Dec 31, 2025		Sequential			Year-end
	(unaudited)		(unaudited)
ASSETS

Cash and cash equivalents	$	28,551	$	31,511	$	31,898	(9	)	%	(10	)	%
Accounts receivable, net		102,051		90,861		93,697	12		%	9		%
Inventories		167,309		167,002		144,552	—		%	16		%
Prepaid expenses and other		15,256		12,210		16,224	25		%	(6	)	%
Total current assets		313,167		301,584		286,371	4		%	9		%
Property, plant and equipment, net		121,104		124,407		127,358	(3	)	%	(5	)	%
Purchased intangible assets, net		146,338		150,695		155,051	(3	)	%	(6	)	%
Other long-term assets		69,017		71,723		67,051	(4	)	%	3		%
Total assets	$	649,626	$	648,409	$	635,831	—		%	2		%

LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST, AND STOCKHOLDERS’ EQUITY

Accounts payable	$	49,076	$	58,386	$	48,188	(16	)	%	2		%
Contract liabilities		30,072		27,048		22,568	11		%	33		%
Accrued income taxes		2,762		2,087		4,289	32		%	(36	)	%
Current portion of long-term debt		3,750		3,750		3,438	—		%	9		%
Other current liabilities		36,870		34,690		35,842	6		%	3		%
Total current liabilities		122,530		125,961		114,325	(3	)	%	7		%
Long-term debt		55,314		50,204		47,206	10		%	17		%
Deferred tax liabilities		412		117		475	252		%	(13	)	%
Other long-term liabilities		46,940		49,852		44,695	(6	)	%	5		%
Redeemable noncontrolling interest		187,080		187,080		187,080	—		%	—		%
Stockholders’ equity		237,350		235,195		242,050	1		%	(2	)	%
Total liabilities, redeemable noncontrolling interest, and stockholders’ equity	$	649,626	$	648,409	$	635,831	—		%	2		%

DMC GLOBAL INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Amounts in Thousands) (unaudited)

	Three months ended									Six months ended
	Jun 30, 2026			Mar 31, 2026			Jun 30, 2025			Jun 30, 2026			Jun 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$	2,017		$	(6,810	)	$	321		$	(4,793	)	$	2,184
Adjustments to reconcile net income (loss) to net cash from operating activities:
Depreciation		3,588			3,715			3,707			7,303			7,367
Amortization of purchased intangible assets		4,357			4,356			4,763			8,713			9,526
Amortization of deferred debt issuance costs		241			231			231			472			448
Stock-based compensation		794			863			1,417			1,657			3,016
Bad debt expense		34			61			(10	)		95			696
Deferred income taxes		898			(339	)		392			559			414
Asset impairments		—			—			296			—			296
Other, net		(457	)		(119	)		433			(576	)		988
Change in working capital, net		(19,432	)		(4,337	)		3,696			(23,769	)		(5,201	)
Net cash (used in) provided by operating activities		(7,960	)		(2,379	)		15,246			(10,339	)		19,734
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of property, plant and equipment		(1,274	)		(2,110	)		(2,921	)		(3,384	)		(6,700	)
Proceeds from property, plant and equipment reimbursements		556			847			1,362			1,403			1,788
Proceeds on sale of property, plant and equipment		335			—			6			335			27
Proceeds from settlement of note receivable		—			—			4,167			—			4,167
Net cash (used in) provided by investing activities		(383	)		(1,263	)		2,614			(1,646	)		(718	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments on term loan		(937	)		(625	)		(625	)		(1,562	)		(1,250	)
Borrowings on revolving loans		65,338			58,600			38,359			123,938			46,859
Repayments on revolving loans		(59,400	)		(54,775	)		(51,512	)		(114,175	)		(57,887	)
Payment of debt issuance costs		—			—			(650	)		—			(650	)
Distributions to redeemable noncontrolling interest holder		—			—			(5,104	)		—			(6,255	)
Treasury stock purchases		(93	)		(367	)		(79	)		(460	)		(563	)
Net cash provided by (used in) financing activities		4,908			2,833			(19,611	)		7,741			(19,746	)
EFFECTS OF EXCHANGE RATES ON CASH		475			422			(527	)		897			(1,132	)

NET DECREASE IN CASH AND CASH EQUIVALENTS		(2,960	)		(387	)		(2,278	)		(3,347	)		(1,862	)
CASH AND CASH EQUIVALENTS, beginning of the period		31,511			31,898			14,705			31,898			14,289
CASH AND CASH EQUIVALENTS, end of the period	$	28,551		$	31,511		$	12,427		$	28,551		$	12,427

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									Six months ended
	Jun 30, 2026			Mar 31, 2026			Jun 30, 2025			Jun 30, 2026			Jun 30, 2025
Net income (loss)	$	2,017		$	(6,810	)	$	321		$	(4,793	)	$	2,184
Interest expense, net		1,280			1,461			1,811			2,741			3,510
Income tax provision		1,936			1,221			1,419			3,157			4,152
Depreciation		3,588			3,715			3,707			7,303			7,367
Amortization of purchased intangible assets		4,357			4,356			4,763			8,713			9,526
EBITDA		13,178			3,943			12,021			17,121			26,739
Stock-based compensation		931			902			1,417			1,833			2,980
Strategic review and related expenses		—			—			775			—			2,073
Restructuring expenses and asset impairments		239			566			1,149			805			1,474
Executive transition costs		—			—			520			—			520
Other (income) expense, net		(15	)		45			346			30			564
Adjusted EBITDA	$	14,333		$	5,456		$	16,228		$	19,789		$	34,350
Less: adjusted EBITDA attributable to redeemable noncontrolling interest		(3,660	)		(1,561	)		(2,690	)		(5,221	)		(6,421	)
Adjusted EBITDA attributable to DMC Global Inc.	$	10,673		$	3,895		$	13,538		$	14,568		$	27,929

Adjusted Net Income (Loss)* and Adjusted Diluted Earnings per Share

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

	Three months ended June 30, 2026
	Amount		Per Share⁽¹⁾
Net income attributable to DMC Global Inc.*	$	507	$	0.03
Restructuring expenses and asset impairments, net of tax		220		0.01
As adjusted	$	727	$	0.04

⁽¹⁾ Calculated using diluted weighted average shares outstanding of 20,235,822.

	Three months ended March 31, 2026
	Amount			Per Share⁽¹⁾
Net loss attributable to DMC Global Inc.*	$	(6,065	)	$	(0.30	)
Restructuring expenses and asset impairments, net of tax		368			0.02
As adjusted	$	(5,697	)	$	(0.28	)

⁽¹⁾ Calculated using diluted weighted average shares outstanding of 20,066,158.

	Three months ended June 30, 2025
	Amount		Per Share⁽¹⁾
Net income attributable to DMC Global Inc.*	$	116	$	—
Strategic review and related expenses, net of tax		775		0.04
Restructuring expenses and asset impairments, net of tax		1,062		0.05
Executive transition costs, net of tax		520		0.03
As adjusted	$	2,473	$	0.12

⁽¹⁾Calculated using diluted weighted average shares outstanding of 20,134,760.

	Six months ended June 30, 2026
	Amount			Per Share⁽¹⁾
Net loss attributable to DMC Global Inc.*	$	(5,558	)	$	(0.28	)
Restructuring expenses and asset impairments, net of tax		588			0.03
As adjusted	$	(4,970	)	$	(0.25	)

⁽¹⁾ Calculated using diluted weighted average shares outstanding of 20,133,159.

	Six months ended June 30, 2025
	Amount		Per Share⁽¹⁾
Net income attributable to DMC Global Inc.*	$	793	$	0.04
Strategic review and related expenses, net of tax		2,073		0.10
Restructuring expenses and asset impairments, net of tax		1,257		0.06
Executive transition costs, net of tax		520		0.03
As adjusted	$	4,643	$	0.23

⁽¹⁾ Calculated using diluted weighted average shares outstanding of 19,861,073.

Segment Adjusted EBITDA

Arcadia Products

	Three months ended									Six months ended
	Jun 30, 2026			Mar 31, 2026			Jun 30, 2025			Jun 30, 2026			Jun 30, 2025
Operating income (loss), as reported	$	3,645		$	(2,002	)	$	516		$	1,643		$	3,512
Adjustments:
Depreciation		1,023			1,029			1,016			2,052			2,022
Amortization of purchased intangible assets		4,357			4,356			4,763			8,713			9,526
Stock-based compensation		78			24			238			102			475
Restructuring expenses and asset impairments		47			495			192			542			517
Adjusted EBITDA		9,150			3,902			6,725			13,052			16,052
Less: adjusted EBITDA attributable to redeemable noncontrolling interest		(3,660	)		(1,561	)		(2,690	)		(5,221	)		(6,421	)
Adjusted EBITDA attributable to DMC Global Inc.	$	5,490		$	2,341		$	4,035		$	7,831		$	9,631

DynaEnergetics

	Three months ended						Six months ended
	Jun 30, 2026		Mar 31, 2026		Jun 30, 2025		Jun 30, 2026		Jun 30, 2025
Operating income, as reported	$	3,927	$	912	$	6,411	$	4,839	$	11,999
Adjustments:
Depreciation		1,644		1,763		1,822		3,407		3,613
Restructuring expenses and asset impairments		67		71		746		138		746
Adjusted EBITDA	$	5,638	$	2,746	$	8,979	$	8,384	$	16,358

NobelClad

	Three months ended						Six months ended
	Jun 30, 2026		Mar 31, 2026		Jun 30, 2025		Jun 30, 2026		Jun 30, 2025
Operating income, as reported	$	2,183	$	1,052	$	3,407	$	3,235	$	8,029
Adjustments:
Depreciation		849		841		781		1,690		1,575
Restructuring expenses and asset impairments		—		—		211		—		211
Adjusted EBITDA	$	3,032	$	1,893	$	4,399	$	4,925	$	9,815

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

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