WALTHAM, Mass., Nov. 04, 2026 (GLOBE NEWSWIRE) — C a e NXT, Co. (NYSE: CXT) (“C a e NXT” o the “Compa y”), a global leade i authe ticatio a d t aceability tech ologies, today a ou ced its fi a cial esults fo the thi d qua te e ded Septembe 30, 2026.
- Sales of $497 millio , up 12% yea -ove -yea ; o ga ic sales g owth of 1%.
- GAAP ea i gs pe diluted sha e (EPS) of $0.66, a d Adjusted EPS of $1.28.
- Cash f om ope atio s of $112 millio ; Adjusted f ee cash flow co ve sio of 132%.
- Raised the midpoi t of full-yea adjusted EPS guida ce a d a owed the a ge, while updati g ou full-yea sales outlook.
Aa o W. Saak, C a e NXT’s P eside t a d Chief Executive Office , stated: “We co ti ued to make p og ess agai st ou st ategic p io ities i the thi d qua te . We secu ed mea i gful lo g-te m custome wi s that e ha ce visibility i to futu e eve ue, delive ed o ou sy e gy commitme ts, a d ge e ated st o g f ee cash flow. These esults eflect the st e gth of ou po tfolio, discipli ed executio , a d the co fide ce custome s place i ou diffe e tiated tech ologies a d solutio s.”
M . Saak co ti ued: “Ou obust f ee cash flow ge e atio keeps us o t ack to achieve ou yea -e d deleve agi g ta get a d fu the st e gthe s ou fi a cial flexibility. We a e also aisi g the midpoi t of ou full-yea adjusted EPS guida ce. We emai focused o discipli ed capital deployme t to suppo t g owth a d c eate lo g-te m sha eholde value.”
| Th ee Mo ths E dedSeptembe 30, | Cha ge | (dolla s i millio s) | 2026 | 2025 | $ | % | Net sales (GAAP) | $ | 497.1 | $ | 445.1 | $ | 52.0 | 11.7% | O ga ic sales | $ | 4.9 | 1.1% | Net i come (GAAP) | $ | 38.4 | $ | 50.5 | $ | (12.1 | ) | (24.0)% | Net i come ma gi (GAAP) | 7.7 | % | 11.3 | % | (360bps) | Adjusted EBITDA | $ | 127.2 | $ | 122.4 | $ | 4.8 | 3.9% | Adjusted EBITDA ma gi | 25.6 | % | 27.5 | % | (190bps) |
| Th ee Mo ths E dedSeptembe 30, | Cha ge | (dolla s i millio s) | 2026 | 2025 | $ | % | Net sales (GAAP) | $ | 243.5 | $ | 228.8 | $ | 14.7 | 6.4% | O ga ic sales | $ | 16.4 | 7.2% | Ope ati g p ofit (GAAP) | $ | 46.1 | $ | 39.3 | $ | 6.8 | 17.3% | Ope ati g p ofit ma gi (GAAP) | 18.9 | % | 17.2 | % | 170bps | Adjusted EBITDA | $ | 71.0 | $ | 65.4 | $ | 5.6 | 8.6% | Adjusted EBITDA ma gi | 29.2 | % | 28.6 | % | 60bps |
| Th ee Mo ths E dedSeptembe 30, | Cha ge | (dolla s i millio s) | 2026 | 2025 | $ | % | Net sales (GAAP) | $ | 253.6 | $ | 216.3 | $ | 37.3 | 17.2% | O ga ic sales | $ | (11.5 | ) | (5.3)% | Ope ati g p ofit (GAAP) | $ | 35.7 | $ | 60.7 | $ | (25.0 | ) | (41.2)% | Ope ati g p ofit ma gi (GAAP) | 14.1 | % | 28.1 | % | NM | Adjusted EBITDA | $ | 71.1 | $ | 69.8 | $ | 1.3 | 1.9% | Adjusted EBITDA ma gi | 28.0 | % | 32.3 | % | (430bps) | Totals may ot sum due to ou di gPlease see the No -GAAP Fi a cial Measu es tables i this elease |
The Compa y is updati g its full yea guida ce that was p eviously p ovided o August 5, 2026.
| (dolla s i millio s, except pe sha e data) | C a e NXT Sales G owth | +15% to +17% | ~14% | SAT Segme t Sales G owth | ~HSD to ~LDD | ~11% | DTT Segme t Sales G owth | Low 20’s % | High-Tee s | Adjusted Segme t EBITDA Ma gi | ~27% | ~27% | Adjusted EBITDA Ma gi | ~24% | ~24% | Adjusted EPS | $4.22 to $4.42 | $4.32 to $4.42 | Othe items: | Co po ate Expe se | ~$58 | ~$58 | No -Ope ati g Expe se, Net | ~$80 | ~$75-$80 | Adjusted Tax Rate | ~21.5% | ~21.5% | Adjusted F ee Cash Flow Co ve sio | ~90% to ~110% | ~90% to ~110% | Diluted Sha es | ~58 millio | ~58 millio | Please see the No -GAAP Fi a cial Measu es defi itio s i this elease |
C a e NXT a ou ced its qua te ly divide d of $0.18 pe sha e fo the fou th qua te of 2026. The divide d is payable o Decembe 9, 2026, to sha eholde s of eco d as of Novembe 30, 2026.
C a e NXT has scheduled a co fe e ce call to discuss the thi d qua te fi a cial esults o Thu sday, Novembe 5, 2026, at 10:00 A.M. (Easte ). I te ested pa ties may liste to a live webcast of the co fe e ce call by visiti g the Eve ts sectio of the I vesto Relatio s sectio of the Compa y’s website. Fo those wishi g to pa ticipate i the Q&A sessio of the call, please visit the I vesto s sectio of C a e NXT’s website at www.c a e xt.com to p e- egiste . P e- egist atio may be completed at a y time up to the call sta t time. A accompa yi g slide p ese tatio a d a eplay of the live eve t will also be available o the Compa y’s website.
C a e NXT is a global leade i authe ticatio a d t aceability tech ologies that secu e, detect, a d authe ticate what matte s most to its custome s. Th ough its two ma ket-leadi g busi ess segme ts, Secu ity & Authe ticatio Tech ologies a d Detectio & T aceability Tech ologies, C a e NXT p ovides i ovative solutio s that p eve t the cou te feiti g of p oducts a d ide tities a d e su e the quality, authe ticity, a d t aceability of p oducts ac oss the supply chai . C a e NXT’s app oximately 6,000 employees help its custome s p otect thei most impo ta t assets a d e su e secu e, seamless t a sactio s a ou d the wo ld eve y day. Fo mo e i fo matio , visit www.c a e xt.com.
This p ess elease co tai s fo wa d-looki g stateme ts withi the mea i g of the fede al secu ities laws. Fo wa d-looki g stateme ts i clude all stateme ts that a e ot histo ical stateme ts of fact a d those ega di g the Compa y’s i te t, belief, o expectatio s, i cludi g stateme ts ega di g outlook fo 2026 o a y othe pe iod, the Compa y’s lo g-te m value c eatio pote tial, divide d payme ts, o the timi g of a y of the fo egoi g.
Wo ds such as “a ticipate(s),” “expect(s),” “i te d(s),” “believe(s),” “pla (s),” “may,” “will,” “would,” “could,” “should,” “seek(s),” a d simila exp essio s, o the egative of these te ms, a e i te ded to ide tify such fo wa d-looki g stateme ts. These stateme ts a e based o ma ageme t’s cu e t expectatio s a d beliefs a d a e subject to a umbe of isks a d u ce tai ties a d othe impo ta t facto s that could lead to actual esults diffe i g mate ially f om those p ojected, fo ecasted o expected. The Compa y assumes o (a d disclaims a y) obligatio to evise o update these stateme ts to eflect futu e eve ts o ci cumsta ces. Although the Compa y believes that the assumptio s u de lyi g the fo wa d-looki g stateme ts a e easo able, it ca give o assu a ce that its expectatio s will be attai ed. The Compa y cautio s i vesto s ot to place u due elia ce o a y such fo wa d-looki g stateme ts.
Risks a d u ce tai ties that could cause actual esults to diffe mate ially f om the Compa y’s expectatio s i clude, but a e ot limited to: the impact of ta iffs a d othe t ade measu es; cha ges i global eco omic co ditio s (i cludi g i flatio a y p essu es) a d geopolitical isks, i cludi g mac oeco omic fluctuatio s; dema d fo its p oducts, which is va iable a d subject to facto s beyo d its co t ol; isks associated with co ducti g a substa tial po tio of its busi ess outside the U.S., i cludi g the isk of ta iffs a d othe t ade measu es by the U.S. a d othe cou t ies; i fo matio systems a d tech ology etwo ks failu es, b eaches i data secu ity, theft of pe so ally ide tifiable a d othe i fo matio , a d o -complia ce with its co t actual o othe legal obligatio s ega di g such i fo matio ; bei g u able to ide tify o complete acquisitio s, o to successfully i teg ate the busi esses the Compa y acqui es; fluctuatio i the p ices of, o dis uptio i its ability to sou ce, compo e ts a d aw mate ials, a d delays i the dist ibutio of its p oducts; loss of pe so el o bei g able to hi e a d etai additio al pe so el eeded to sustai a d g ow its busi ess as pla ed; bei g u able to successfully develop a d i t oduce ew p oducts, which would limit its ability to g ow a d mai tai its competitive positio ; gove me tal egulatio s a d failu e to comply with those egulatio s; the ability to p otect its i tellectual p ope ty; isks f om litigatio , claims a d i vestigatio s, i cludi g those elated to p oduct liability a d wa a ties, a d employee, comme cial, i tellectual p ope ty a d e vi o me tal matte s; isks elated to its ability to imp ove p oductivity, educe costs a d alig ma ufactu i g capacity with custome dema d; sig ifica t competitio i the Compa y’s ma kets; additio al tax expe ses o exposu es; adve se impacts f om i ta gible asset impai me t cha ges; i adequate o i effective i te al co t ols; a d isks elated to the sepa atio i 2023 f om C a e Compa y, i cludi g ot obtai i g the i te ded tax t eatme t of the sepa atio t a sactio , failu e of C a e Compa y to pe fo m u de the va ious t a sactio ag eeme ts a d actual o pote tial co flicts of i te est with C a e Compa y.
Reade s should ca efully eview C a e NXT, Co.’s fi a cial stateme ts a d the otes the eto, as well as the sectio e titled “Risk Facto s” i Item 1A of C a e NXT, Co.’s A ual Repo t o Fo m 10-K fo the yea e ded Decembe 31, 2025, as updated by its Qua te ly Repo ts o Fo m 10-Q a d the othe docume ts C a e NXT, Co. a d its subsidia ies file f om time to time with the SEC. These fili gs ide tify a d add ess othe impo ta t isks a d u ce tai ties that could cause actual eve ts a d esults to diffe mate ially f om those co tai ed i the fo wa d-looki g stateme ts.
| Net sales: | Secu ity a d Authe ticatio Tech ologies | $ | 243.5 | $ | 228.8 | $ | 663.0 | $ | 549.2 | Detectio a d T aceability Tech ologies | 253.6 | 216.3 | 715.0 | 630.6 | Total et sales | $ | 497.1 | $ | 445.1 | $ | 1,378.0 | $ | 1,179.8 | Ope ati g p ofit (loss): | Secu ity a d Authe ticatio Tech ologies | $ | 46.1 | $ | 39.3 | $ | 100.1 | $ | 59.7 | Detectio a d T aceability Tech ologies | 35.7 | 60.7 | 111.1 | 159.4 | Co po ate | (16.1 | ) | (18.1 | ) | (54.4 | ) | (52.0 | ) | Total ope ati g p ofit | $ | 65.7 | $ | 81.9 | $ | 156.8 | $ | 167.1 | I te est expe se | (19.9 | ) | (16.2 | ) | (58.7 | ) | (44.1 | ) | Equity i vestme t i come | 0.1 | 0.1 | 4.9 | 0.5 | Miscella eous i come, et | 3.3 | 0.8 | 3.3 | 4.0 | I come befo e i come taxes | 49.2 | 66.6 | 106.3 | 127.5 | P ovisio fo i come taxes | 10.1 | 15.7 | 24.2 | 29.9 | Net i come befo e allocatio to o co t olli g i te est | 39.1 | 50.9 | 82.1 | 97.6 | Less: No co t olli g i te est i subsidia ies’ ea i gs | 0.7 | 0.4 | 1.9 | 0.5 | Net i come att ibutable to commo sha eholde s | $ | 38.4 | $ | 50.5 | $ | 80.2 | $ | 97.1 | Ea i gs pe diluted sha e | $ | 0.66 | $ | 0.87 | $ | 1.38 | $ | 1.68 | Ave age diluted sha es outsta di g | 58.1 | 58.0 | 58.1 | 58.0 | Ave age basic sha es outsta di g | 57.6 | 57.4 | 57.5 | 57.4 |
| Assets | Cu e t assets: | Cash a d cash equivale ts | $ | 251.1 | $ | 233.8 | Accou ts eceivable, et | 374.5 | 351.8 | U.S. a d fo eig taxes o i come | 23.7 | 12.7 | I ve to ies, et | 216.8 | 169.5 | Othe cu e t assets | 105.6 | 85.1 | Total cu e t assets | 971.7 | 852.9 | P ope ty, pla t a d equipme t, et | 327.9 | 303.8 | Lo g-te m defe ed tax assets | 18.3 | 2.5 | I vestme t i equity affiliates a d joi t ve tu es | 4.6 | 139.4 | Othe assets | 94.7 | 96.6 | I ta gible assets, et | 724.4 | 557.2 | Goodwill | 1,420.0 | 1,164.0 | Total assets | $ | 3,561.6 | $ | 3,116.4 | Liabilities a d equity | Cu e t liabilities: | Sho t-te m bo owi gs | $ | 231.1 | $ | 135.1 | Accou ts payable | 114.4 | 132.3 | Co t act liabilities | 158.4 | 87.3 | Acc ued liabilities | 218.9 | 185.7 | U.S. a d fo eig taxes o i come | 20.9 | 28.7 | Sho t-te m defe ed tax liability | — | — | Total cu e t liabilities | 743.7 | 569.1 | Lo g-te m debt | 1,151.4 | 1,004.4 | Acc ued pe sio a d post eti eme t be efits | 27.8 | 19.1 | Lo g-te m defe ed tax liability | 200.8 | 151.0 | Othe liabilities | 124.6 | 116.0 | Redeemable o co t olli g i te est | 20.6 | 6.9 | Total equity | 1,292.7 | 1,249.9 | Total liabilities, edeemable o co t olli g i te est, a d equity | $ | 3,561.6 | $ | 3,116.4 |
| Ope ati g activities: | Net i come befo e allocatio to o co t olli g i te est | $ | 39.1 | $ | 50.9 | $ | 82.1 | $ | 97.6 | Adjustme ts to eco cile et i come to et cash flows p ovided by ope ati g activities: | Dep eciatio a d amo tizatio | 39.6 | 29.0 | 108.1 | 77.7 | Stock-based compe satio expe se | 3.9 | 3.3 | 23.1 | 9.3 | I come f om equity i vestme ts | (0.1 | ) | (0.1 | ) | (4.9 | ) | (0.5 | ) | Defe ed i come taxes | (6.4 | ) | 1.1 | (11.8 | ) | (11.7 | ) | Cash p ovided by (used fo ) ope ati g wo ki g capital | 39.4 | 6.2 | (16.4 | ) | (41.9 | ) | Lo g-te m co t act liabilities | 0.1 | 4.5 | 8.7 | 4.3 | Othe | (3.8 | ) | (2.9 | ) | (4.4 | ) | 0.9 | Total p ovided by ope ati g activities | $ | 111.8 | $ | 92.0 | $ | 184.5 | $ | 135.7 | I vesti g activities: | P oceeds f om dispositio of assets | 3.3 | — | 8.4 | — | P oceeds f om equity i vestme ts | 4.5 | — | 4.5 | — | Payme t fo acquisitio s, et of cash acqui ed a d wo ki g capital adjustme ts | — | 2.9 | (225.4 | ) | (391.1 | ) | Capital expe ditu es | (21.6 | ) | (13.3 | ) | (45.0 | ) | (33.4 | ) | Settleme t of fo wa d co t acts | (0.1 | ) | 0.3 | (0.5 | ) | 1.8 | Total used fo i vesti g activities | $ | (13.9 | ) | $ | (10.1 | ) | $ | (258.0 | ) | $ | (422.7 | ) | Fi a ci g activities: | Divide ds paid | (10.4 | ) | (9.7 | ) | (31.1 | ) | (29.2 | ) | P oceeds f om stock optio s exe cised | 0.1 | 0.9 | 0.4 | 2.2 | Pu chase of o co t olli g i te est | — | — | (0.2 | ) | — | Payme t of tax withholdi g o equity awa ds vested | (0.1 | ) | (0.1 | ) | (3.1 | ) | (5.9 | ) | Debt issua ce costs | (1.5 | ) | (3.5 | ) | (3.5 | ) | (4.3 | ) | Repayme t of sho t-te m debt | (7.7 | ) | — | (122.8 | ) | — | P oceeds f om evolvi g c edit facility | 156.9 | 36.5 | 316.3 | 384.5 | Repayme ts of evolvi g c edit facility | (108.0 | ) | (71.5 | ) | (209.0 | ) | (413.5 | ) | P oceeds f om te m loa | 57.6 | — | 424.5 | 400.4 | Repayme t of te m loa | (164.9 | ) | (4.1 | ) | (277.3 | ) | (40.9 | ) | Fi a ce lease epayme ts | — | — | (1.9 | ) | — | Total (used fo ) p ovided by fi a ci g activities | $ | (78.0 | ) | $ | (51.5 | ) | $ | 92.3 | $ | 293.3 | Effect of excha ge ates o cash, cash equivale ts a d est icted cash | 0.2 | (0.1 | ) | (3.8 | ) | 15.1 | I c ease i cash, cash equivale ts a d est icted cash | 20.1 | 30.3 | 15.0 | 21.4 | Cash, cash equivale ts a d est icted cash at begi i g of pe iod | 241.1 | 164.5 | 246.2 | 173.4 | Cash, cash equivale ts a d est icted cash at e d of pe iod | $ | 261.2 | $ | 194.8 | $ | 261.2 | $ | 194.8 |
| Secu ity a d Authe ticatio Tech ologies | $ | 481.6 | $ | 498.1 | $ | 428.5 | $ | 379.4 | $ | 447.6 | Detectio a d T aceability Tech ologies1 | $ | 233.9 | $ | 257.4 | $ | 220.8 | $ | 113.4 | $ | 109.4 | Total backlog | $ | 715.5 | $ | 755.5 | $ | 649.3 | $ | 492.8 | $ | 557.0 | 1 I cludes app oximately $125 millio of backlog as of Septembe 30, 2026, pe tai i g to the A ta es Visio busi ess acqui ed i Ma ch 2026. |
| Cha ge | (dolla s i millio s) | 2026 | 2025 | $ | % | $ | 497.1 | $ | 445.1 | $ | 52.0 | 11.7 | % | O ga ic sales | 4.9 | 1.1 | % | Acquisitio s | 50.0 | 11.2 | % | Fo eig excha ge | (2.9 | ) | (0.6 | )% | $ | 243.5 | $ | 228.8 | $ | 14.7 | 6.4 | % | O ga ic sales | 16.4 | 7.2 | % | Fo eig excha ge | (1.7 | ) | (0.8 | )% | $ | 253.6 | $ | 216.3 | $ | 37.3 | 17.2 | % | O ga ic sales | (11.5 | ) | (5.3 | )% | Acquisitio s | 50.0 | 23.1 | % | Fo eig excha ge | (1.2 | ) | (0.6 | )% | * Please see the No -GAAP Fi a cial Measu es defi itio s i this elease |
| Net sales (GAAP) | $ | 497.1 | $ | 445.1 | Ope ati g p ofit (GAAP) | $ | 65.7 | $ | 81.9 | Ope ati g p ofit ma gi (GAAP) | 13.2 | % | 18.4 | % | Net i come att ibutable to commo sha eholde s (GAAP) | $ | 38.4 | $ | 0.66 | $ | 50.5 | $ | 0.87 | Acqui ed i ta gible asset amo tizatio | 25.6 | 0.44 | 16.0 | 0.28 | Rest uctu i g a d elated costs | 6.2 | 0.11 | 3.5 | 0.06 | T a sactio elated expe ses | 5.1 | 0.09 | 6.1 | 0.10 | Acquisitio elated adjustme ts1 | 9.9 | 0.17 | 2.5 | 0.04 | Tax adjustme ts | (11.1 | ) | (0.19 | ) | (4.5 | ) | (0.08 | ) | Adjusted et i come (No -GAAP) | $ | 74.1 | $ | 1.28 | $ | 74.1 | $ | 1.28 | Net i come att ibutable to commo sha eholde s (GAAP) | $ | 38.4 | $ | 50.5 | Net i come ma gi (GAAP) | 7.7 | % | 11.3 | % | Adjustme ts to et i come att ibutable to commo sha eholde s | I come tax expe se | 10.1 | 15.7 | I ta gible asset amo tizatio | 26.2 | 16.2 | I te est expe se, et | 19.6 | 15.9 | Dep eciatio | 11.7 | 12.0 | T a sactio elated expe ses | 5.1 | 6.1 | Acquisitio elated adjustme ts1 | 9.9 | 2.5 | Rest uctu i g a d elated costs | 6.2 | 3.5 | Adjusted EBITDA (No -GAAP) | $ | 127.2 | $ | 122.4 | Adjusted EBITDA Ma gi (No -GAAP) | 25.6 | % | 27.5 | % | Totals may ot sum due to ou di g | * Please see the No -GAAP Fi a cial Measu es defi itio s i this elease | 1 The $9.9 millio acquisitio elated adjustme t i cludes $11.1 millio of ope ati g expe ses pa tially offset by $1.2 millio of o -ope ati g adjustme ts |
| Net sales (GAAP) | $ | 1,378.0 | $ | 1,179.8 | Ope ati g p ofit (GAAP) | $ | 156.8 | $ | 167.1 | Ope ati g p ofit ma gi (GAAP) | 11.4 | % | 14.2 | % | Net i come att ibutable to commo sha eholde s (GAAP) | $ | 80.2 | $ | 1.38 | $ | 97.1 | $ | 1.68 | Acqui ed i ta gible asset amo tizatio | 65.5 | 1.13 | 42.2 | 0.73 | Rest uctu i g a d elated costs | 12.9 | 0.22 | 10.8 | 0.19 | T a sactio elated expe ses | 19.8 | 0.34 | 19.2 | 0.33 | Acquisitio elated adjustme ts1 | 19.3 | 0.33 | 5.7 | 0.10 | Tax adjustme ts | (25.0 | ) | (0.43 | ) | (13.5 | ) | (0.23 | ) | Adjusted et i come (No -GAAP) | $ | 172.7 | $ | 2.97 | $ | 161.5 | $ | 2.79 | Net i come att ibutable to commo sha eholde s (GAAP) | $ | 80.2 | $ | 97.1 | Net i come ma gi (GAAP) | 5.8 | % | 8.2 | % | Adjustme ts to et i come att ibutable to commo sha eholde s | I come tax expe se | 24.2 | 29.9 | I ta gible asset amo tizatio | 67.2 | 43.2 | I te est expe se, et | 57.7 | 43.4 | Dep eciatio | 36.1 | 32.1 | T a sactio elated expe ses | 19.8 | 19.2 | Acquisitio elated adjustme ts1 | 19.3 | 5.7 | Rest uctu i g a d elated costs | 12.9 | 10.8 | Adjusted EBITDA (No -GAAP) | $ | 317.4 | $ | 281.4 | Adjusted EBITDA Ma gi (No -GAAP) | 23.0 | % | 23.9 | % | Totals may ot sum due to ou di g | * Please see the No -GAAP Fi a cial Measu es defi itio s i this elease | 1 The $19.3 millio acquisitio elated adjustme t i cludes $25.4 millio of ope ati g expe ses, pa tially offset by $6.1 millio of o -ope ati g adjustme ts |
| Net sales | $ | 243.5 | $ | 253.6 | $ | 497.1 | $ | — | $ | 497.1 | Ope ati g p ofit (loss) (GAAP) | $ | 46.1 | $ | 35.7 | $ | 81.8 | $ | (16.1 | ) | $ | 65.7 | Ope ati g p ofit ma gi (GAAP) | 18.9 | % | 14.1 | % | 16.5 | % | 13.2 | % | Special items impacti g ope ati g p ofit: | Acqui ed i ta gible asset amo tizatio | 9.6 | 16.0 | 25.6 | — | 25.6 | Rest uctu i g a d elated costs | 6.2 | — | 6.2 | — | 6.2 | Acquisitio elated adjustme ts | 0.2 | 10.9 | 11.1 | — | 11.1 | T a sactio elated expe ses | 0.5 | 3.3 | 3.8 | 1.3 | 5.1 | Adjusted ope ati g p ofit (loss) ( o -GAAP)* | $ | 62.6 | $ | 65.9 | $ | 128.5 | $ | (14.8 | ) | $ | 113.7 | Adjusted ope ati g p ofit ma gi ( o -GAAP)* | 25.7 | % | 26.0 | % | 25.9 | % | 22.9 | % | Dep eciatio a d amo tizatio 1 | 10.2 | 2.1 | 12.3 | 0.1 | 12.4 | No -ope ati g (expe se) i come | (1.8 | ) | 3.1 | 1.3 | (0.2 | ) | 1.1 | Adjusted EBITDA ( o -GAAP)* | $ | 71.0 | $ | 71.1 | $ | 142.1 | $ | (14.9 | ) | $ | 127.2 | Adjusted EBITDA ma gi ( o -GAAP)* | 29.2 | % | 28.0 | % | 28.6 | % | 25.6 | % |
| Net sales (GAAP) | $ | 228.8 | $ | 216.3 | $ | 445.1 | $ | — | $ | 445.1 | Ope ati g p ofit (loss) (GAAP)* | $ | 39.3 | $ | 60.7 | $ | 100.0 | $ | (18.1 | ) | $ | 81.9 | Ope ati g p ofit ma gi (GAAP)* | 17.2 | % | 28.1 | % | 22.5 | % | 18.4 | % | Special items impacti g ope ati g p ofit: | Acqui ed i ta gible asset amo tizatio | 10.6 | 5.4 | 16.0 | — | 16.0 | Rest uctu i g a d elated costs | 2.4 | 1.1 | 3.5 | — | 3.5 | Acquisitio elated adjustme ts | 2.5 | — | 2.5 | — | 2.5 | T a sactio elated expe ses | 1.0 | — | 1.0 | 5.1 | 6.1 | Adjusted ope ati g p ofit (loss) ( o -GAAP)* | $ | 55.8 | $ | 67.2 | $ | 123.0 | $ | (13.0 | ) | $ | 110.0 | Adjusted ope ati g p ofit ma gi ( o -GAAP)* | 24.4 | % | 31.1 | % | 27.6 | % | 24.7 | % | Dep eciatio a d amo tizatio 1 | 10.0 | 2.1 | 12.1 | 0.1 | 12.2 | No -ope ati g i come | (0.4 | ) | 0.5 | 0.1 | 0.1 | 0.2 | Adjusted EBITDA ( o -GAAP)* | $ | 65.4 | $ | 69.8 | $ | 135.2 | $ | (12.8 | ) | $ | 122.4 | Adjusted EBITDA ma gi ( o -GAAP)* | 28.6 | % | 32.3 | % | 30.4 | % | 27.5 | % | * Please see the No -GAAP Fi a cial Measu es defi itio s i this elease | 1 Excludes dep eciatio a d amo tizatio associated with acquisitio – elated fai value step-ups. |
| Net sales | $ | 663.0 | $ | 715.0 | $ | 1,378.0 | $ | — | $ | 1,378.0 | Ope ati g p ofit (loss) (GAAP) | $ | 100.1 | $ | 111.1 | $ | 211.2 | $ | (54.4 | ) | $ | 156.8 | Ope ati g p ofit ma gi (GAAP) | 15.1 | % | 15.5 | % | 15.3 | % | 11.4 | % | Special items impacti g ope ati g p ofit: | Acqui ed i ta gible asset amo tizatio | 29.7 | 35.8 | 65.5 | — | 65.5 | Rest uctu i g a d elated costs | 9.6 | 3.3 | 12.9 | — | 12.9 | Acquisitio elated adjustme ts | 0.7 | 24.7 | 25.4 | — | 25.4 | T a sactio elated expe ses | 1.4 | 8.5 | 9.9 | 9.9 | 19.8 | Adjusted ope ati g p ofit (loss) ( o -GAAP)* | $ | 141.5 | $ | 183.4 | $ | 324.9 | $ | (44.5 | ) | $ | 280.4 | Adjusted ope ati g p ofit ma gi ( o -GAAP)* | 21.3 | % | 25.7 | % | 23.6 | % | 20.3 | % | Dep eciatio a d amo tizatio 1 | 30.7 | 7.0 | 37.7 | 0.2 | 37.9 | No -ope ati g (expe se) i come | (3.8 | ) | 2.9 | (0.9 | ) | — | (0.9 | ) | Adjusted EBITDA ( o -GAAP)* | $ | 168.4 | $ | 193.3 | $ | 361.7 | $ | (44.3 | ) | $ | 317.4 | Adjusted EBITDA ma gi ( o -GAAP)* | 25.4 | % | 27.0 | % | 26.3 | % | 23.0 | % |
| Net sales | $ | 549.2 | $ | 630.6 | $ | 1,179.8 | $ | — | $ | 1,179.8 | Ope ati g p ofit (loss) (GAAP) | $ | 59.7 | $ | 159.4 | $ | 219.1 | $ | (52.0 | ) | $ | 167.1 | Ope ati g p ofit ma gi (GAAP) | 10.9 | % | 25.3 | % | 18.6 | % | 14.2 | % | Special items impacti g ope ati g p ofit: | Acqui ed i ta gible asset amo tizatio | 26.1 | 16.1 | 42.2 | — | 42.2 | Rest uctu i g a d elated costs | 8.5 | 2.3 | 10.8 | — | 10.8 | Acquisitio elated adjustme ts | 5.7 | — | 5.7 | — | 5.7 | T a sactio elated expe ses | 4.0 | 1.4 | 5.4 | 13.8 | 19.2 | Adjusted ope ati g p ofit (loss) ( o -GAAP)* | $ | 104.0 | $ | 179.2 | $ | 283.2 | $ | (38.2 | ) | $ | 245.0 | Adjusted ope ati g p ofit ma gi ( o -GAAP)* | 18.9 | % | 28.4 | % | 24.0 | % | 20.8 | % | Dep eciatio a d amo tizatio 1 | 27.0 | 5.8 | 32.8 | 0.2 | $ | 33.0 | No -ope ati g i come | 1.5 | 1.3 | 2.8 | 0.6 | 3.4 | Adjusted EBITDA ( o -GAAP)* | $ | 132.5 | $ | 186.3 | $ | 318.8 | $ | (37.4 | ) | $ | 281.4 | Adjusted EBITDA ma gi ( o -GAAP)* | 24.1 | % | 29.5 | % | 27.0 | % | 23.9 | % | * Please see the No -GAAP Fi a cial Measu es defi itio s i this elease1 Excludes dep eciatio a d amo tizatio associated with acquisitio – elated fai value step-ups. |
| Cash p ovided by ope ati g activities (GAAP) | $ | 111.8 | $ | 92.0 | $ | 184.5 | $ | 135.7 | Less: Capital expe ditu es | (21.6 | ) | (13.3 | ) | (45.0 | ) | (33.4 | ) | F ee cash flow | $ | 90.2 | $ | 78.7 | $ | 139.5 | $ | 102.3 | T a sactio elated expe ses1 | 7.5 | 6.6 | 18.7 | 19.9 | Adjusted f ee cash flow ( o -GAAP) | $ | 97.7 | $ | 85.3 | $ | 158.2 | $ | 122.2 | Adjusted et i come ( o -GAAP)* | $ | 74.1 | $ | 74.1 | $ | 172.7 | $ | 161.5 | Adjusted f ee cash flow co ve sio ( o -GAAP) | 131.8 | % | 115.1 | % | 91.6 | % | 75.7 | % | 1 Rep ese ts cash paid fo t a sactio elated expe ses. | * Please see the No -GAAP Fi a cial Measu es tables i this elease. |
| Total debt (excludi g defe ed fi a ci g costs of $30.1 millio ) | $ | 1,412.6 | Less: Cash a d cash equivale ts | (251.1 | ) | Net debt | $ | 1,161.5 | TTM Adjusted EBITDA ( o -GAAP)* | $ | 460.3 | Net leve age atio | 2.5 | * The TTM Adjusted EBITDA i cludes A ta es Visio fo pe iods p io to the acquisitio o Ma ch 31, 2026. Please efe to the No -GAAP Fi a cial Measu es tables i p io qua te eleases a d i this elease. |
C a e NXT epo ts its fi a cial esults i acco da ce with U.S. ge e ally accepted accou ti g p i ciples (“GAAP”). This p ess elease i cludes ce tai o -GAAP fi a cial measu es, i cludi g Adjusted EBITDA, Adjusted EBITDA ma gi , Adjusted EPS, Adjusted et i come, Adjusted ope ati g p ofit, f ee cash flow, Adjusted f ee cash flow, Adjusted f ee cash flow co ve sio , et leve age atio, a d o ga ic sales that a e ot p epa ed i acco da ce with GAAP. These o -GAAP measu es a e i additio , a d ot a substitute fo o supe io , to measu es of fi a cial pe fo ma ce p epa ed i acco da ce with GAAP a d should ot be co side ed as a alte ative to ope ati g i come, et i come o a y othe pe fo ma ce measu es de ived i acco da ce with GAAP. The Compa y’s ma ageme t believes that these o -GAAP measu es of fi a cial esults (i cludi g o a fo wa d-looki g o p ojected basis) p ovide useful suppleme tal i fo matio to i vesto s about C a e NXT. Howeve , the e a e a umbe of limitatio s elated to the use of these o -GAAP measu es a d thei ea est GAAP equivale ts. Fo example, othe compa ies may calculate o -GAAP measu es diffe e tly o may use othe measu es to calculate thei fi a cial pe fo ma ce, a d the efo e the Compa y’s o -GAAP measu es may ot be di ectly compa able to simila ly titled measu es of othe compa ies.
“Special items” a e items that a e ot i cu ed i all pe iods, the size of these items is difficult to p edict, a d o e of these items a e i dicative of the ope atio s of the u de lyi g busi esses. Ma ageme t believes that o -GAAP fi a cial measu es that exclude these items p ovide i vesto s with a alte ative met ic that ca assist i p edicti g futu e ea i gs a d p ofitability that a e compleme ta y to GAAP met ics. Special items co sist of:
- T a sactio elated expe ses i cludi g acquisitio a d divestitu e elated expe ses such as i c eme tal p ofessio al fees associated with t a sactio closi g a d i teg atio of acquisitio s.
- Acqui ed i ta gible asset amo tizatio .
- Acquisitio elated adjustme ts p ima ily eflect pu chase accou ti g adjustme ts a isi g f om acquisitio s, i cludi g fai value step‑ups (such as the amo tizatio of acquisitio ‑ elated i ve to y). These adjustme ts i clude the fai value emeasu eme t of the Compa y’s equity‑method i vestme t i A ta es Visio as of the acquisitio date, as well as stock‑based compe satio issued to A ta es Visio se io ma ageme t i co ectio with the acquisitio , a d debt exti guishme t costs elated to the ea ly epayme t of assumed debt.
- Rest uctu i g a d elated costs a e p edomi a tly elated to seve a ce cha ges associated with the i teg atio of the DLR a d OpSec busi esses, a d the alig me t of DTT’s cost st uctu e with existi g eco omic co ditio s. These costs i clude fo mal est uctu i g p og ams as well as othe disc ete actio s. Ce tai costs i cluded i this adjustme t a e ot epo ted as est uctu i g cha ges i the GAAP esults due to thei immate iality.
Reco ciliatio s of ce tai fo wa d-looki g a d p ojected o -GAAP measu es, i cludi g Adjusted segme t EBITDA ma gi a d Adjusted EPS, to the closest co espo di g GAAP measu e a e ot available without u easo able effo ts due to the high va iability, complexity a d low visibility with espect to the cha ges excluded f om these o -GAAP measu es, which could have a pote tially sig ifica t impact o C a e NXT’s futu e GAAP esults. C a e NXT calculates Adjusted segme t EBITDA ma gi a d Adjusted EPS as desc ibed below.
- “Adjusted Segme t EBITDA” excludes et i te est expe se, tax expe se a d dep eciatio a d amo tizatio expe se f om et i come, as well as special items. “Adjusted segme t EBITDA ma gi ” is calculated as Adjusted segme t EBITDA divided by sales.
- “Adjusted EPS” is calculated as Adjusted et i come divided by diluted sha es. Adjusted et i come is calculated as et i come excludi g special items, the tax effect of these adjustme ts a d othe disc ete tax items.
The Compa y’s ma ageme t believes that each of the followi g o -GAAP measu es p ovides useful i fo matio to i vesto s ega di g the Compa y’s fi a cial co ditio s a d ope atio s:
- “Adjusted et i come” a d “Adjusted EPS” exclude special items, the tax effect of these adjustme ts a d othe disc ete tax items which a e outside of the Compa y’s u de lyi g busi ess pe fo ma ce, some of which may o may ot be o – ecu i g, a d which ma ageme t believes may complicate the p ese tatio of the Compa y’s u de lyi g ea i gs a d ope atio al pe fo ma ce.
- “F ee cash flow,” “Adjusted f ee cash flow” a d “Adjusted f ee cash flow co ve sio ” p ovide suppleme tal i fo matio to assist ma ageme t a d i vesto s i a alyzi g the Compa y’s ability to ge e ate liquidity f om its ope ati g activities. The measu e of f ee cash flow does ot take i to co side atio ce tai othe o -disc etio a y cash equi eme ts such as, fo example, ma dato y p i cipal payme ts o the Compa y’s lo g-te m debt. F ee cash flow is calculated as cash p ovided by ope ati g activities less capital expe ditu es. Adjusted f ee cash flow is calculated as f ee cash flow adjusted fo ce tai cash items which ma ageme t believes may complicate the i te p etatio of the Compa y’s u de lyi g f ee cash flow pe fo ma ce such as ce tai t a sactio elated cash flow items. Adjusted f ee cash flow co ve sio is calculated as Adjusted f ee cash flow divided by Adjusted et i come. These items a e ot i cu ed i all pe iods, the size of these items is difficult to p edict, a d o e of these items a e i dicative of the ope atio s of the u de lyi g busi esses. Ma ageme t believes that o -GAAP fi a cial measu es that exclude these items p ovide i vesto s with a alte ative met ic that ca assist i p edicti g futu e cash flows that a e compleme ta y to GAAP met ics.
- “Adjusted EBITDA” a d “Adjusted EBITDA ma gi ” exclude et i te est expe se, tax expe se, dep eciatio a d amo tizatio expe se a d special items. “Adjusted ope ati g p ofit (loss)” excludes special items desc ibed above that impact ope ati g p ofit. Ma ageme t believes that o -GAAP fi a cial measu es that exclude these items p ovide i vesto s with a alte ative met ic that ca assist i p edicti g futu e ea i gs a d p ofitability that a e compleme ta y to GAAP met ics.
- “Net leve age atio” efe s to Net debt divided by t aili g twelve mo ths (TTM) Adjusted EBITDA. “Net debt” ep ese ts total debt (excludi g defe ed fi a ci g costs), i cludi g acqui ed debt f om A ta es Visio acquisitio , less cash a d cash equivale ts. The TTM Adjusted EBITDA i cludes the A ta es Visio TTM Adjusted EBITDA fo pe iods p io to the acquisitio . Ma ageme t believes that these o -GAAP fi a cial measu es p ovide useful i fo matio about ou ability to satisfy ou debt obligatio s.
- Refe e ces to “o ga ic,” such as “o ga ic sales”, “o ga ic Adjusted EBITDA” exclude cu e cy effects a d, whe e applicable, the fi st-yea impacts of acquisitio s a d divestitu es. Ma ageme t believes that o -GAAP fi a cial measu es that exclude these items p ovide i vesto s with a alte ative met ic that ca assist i ide tifyi g u de lyi g g owth t e ds i ou busi ess a d facilitate compa iso of ou sales pe fo ma ce, fo example, with p io a d futu e pe iods that a e compleme ta y to GAAP met ics.
Co tact:Joh WalshVice P eside t, I vesto Relatio sjoh .walsh@c a e xt.com
