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DMC Global Inc.

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DMC Global Inc. • NASDAQ
$6.21 ▲ 1.97% (+0.12)
Market Cap $127.84 M
52w High $9.92
52w Low $5.46
Dividend Yield 0%
P/E -13.21
Volume 38.66K
Outstanding Shares 20.59M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $151.532M ▼ $25.95M ▼ $-2.063M ▲ -1.361% ▲ $-0.103 ▲ $8.773M ▼
Q2-2025 $155.487M ▼ $32.834M ▼ $-4.784M ▼ -3.077% ▼ $-0.24 ▼ $12.021M ▼
Q1-2025 $159.29M ▲ $34.686M ▲ $758K ▲ 0.476% ▲ $0.04 ▲ $14.718M ▲
Q4-2024 $152.374M ▼ $32.395M ▼ $-763K ▲ -0.501% ▲ $-0.17 ▲ $8.324M ▲
Q3-2024 $152.429M $179.04M $-163.01M -106.942% $-8.27 $-140.733M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $26.412M ▲ $644.143M ▼ $204.089M ▲ $252.974M ▼
Q2-2025 $12.427M ▼ $645.024M ▼ $204.087M ▼ $253.857M ▼
Q1-2025 $14.705M ▲ $670.64M ▼ $229.637M ▼ $253.923M ▲
Q4-2024 $14.289M ▼ $671.337M ▼ $233.286M ▼ $250.971M ▼
Q3-2024 $14.511M $702.01M $258.406M $256.524M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-2.063M ▼ $19.256M ▲ $-2.329M ▼ $-3.053M ▲ $13.985M ▲ $15.013M ▲
Q2-2025 $321K ▼ $15.246M ▲ $2.614M ▲ $-19.611M ▼ $-2.278M ▼ $12.325M ▲
Q1-2025 $1.863M ▲ $4.488M ▼ $-3.332M ▲ $-135K ▲ $416K ▲ $709K ▼
Q4-2024 $-1.156M ▲ $11.811M ▼ $-5.094M ▲ $-6.364M ▲ $-222K ▼ $6.127M ▼
Q3-2024 $-159.416M $19.002M $-5.679M $-13.697M $-56K $12.917M

Revenue by Products

Product Q3-2024Q4-2024Q1-2025Q2-2025
Arcadia Segment
Arcadia Segment
 $60.00M ▲$60.00M ▲$70.00M ▲$60.00M ▼
DynaEnergetics Segment
DynaEnergetics Segment
 $70.00M ▲$60.00M ▼$70.00M ▲$70.00M ▲
NobelClad Segment
NobelClad Segment
 $20.00M ▲$30.00M ▲$30.00M ▲$30.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown meaningfully from the pandemic trough but has recently flattened and even stepped back, suggesting the growth surge is cooling. Profitability has been inconsistent: the company moved from small profits in the last couple of years to a sizable loss in the most recent period, pointing to margin pressure, higher costs, or possibly one‑off charges. Overall, the business looks cyclical and sensitive to market conditions, with strong top‑line recovery but earnings that remain fragile and volatile.

Balance Sheet

Balance Sheet The balance sheet shows a company that invested and scaled up after 2020, but with assets now edging down and equity noticeably reduced following the recent loss. Debt has been trimmed over time, which helps risk, yet cash remains quite lean, leaving less of a cushion if conditions worsen. The capital structure is not extreme, but the recent hit to equity and thin cash position mean there is less room for prolonged underperformance without further balance‑sheet action.

Cash Flow

Cash Flow Despite volatile earnings, cash generation from operations has been modest but generally positive, and free cash flow has improved versus the early part of the period. Capital spending has been kept relatively steady and restrained, which supports free cash flow but may also limit how aggressively the company can expand capacity. The key message is that the business has been able to fund itself from cash flow in most years, even when reported profits were weak, but there is not a large cash buffer.

Competitive Edge

Competitive Edge DMC competes in specialized niches—well completion systems, explosion‑welded clad metals, and high‑performance building products—where technical know‑how and reliability matter more than sheer scale. Its energy‑related offerings benefit from strong safety and performance credentials, while NobelClad’s explosion‑welded plates and Arcadia’s custom architectural products serve industrial and construction customers with demanding specifications. This specialization, combined with long customer relationships and high switching costs, gives DMC a defensible position, though it still faces cyclical demand and competition from larger industrial and energy‑service players.

Innovation and R&D

Innovation and R&D The company’s edge is clearly innovation‑driven: DynaEnergetics’ intrinsically safe, factory‑assembled perforating systems, NobelClad’s proprietary explosion‑welding process, and Arcadia’s energy‑efficient, customizable building solutions all show a focus on engineered, differentiated products. Management is also extending these technologies into adjacent areas such as geothermal and mining, and pursuing new metal combinations and higher‑performance building products. This steady pipeline suggests DMC treats R&D as a core capability, which can support pricing power and margins if market adoption continues, but the payoffs will depend on broader energy and construction cycles.

Summary

DMC Global is a niche, technology‑oriented industrial and energy supplier that successfully rebuilt revenue after 2020 but is still working to translate that into consistent, durable profitability. The recent swing back to a meaningful loss has weakened equity and highlights the business’s cyclical and operational risk, even though cash flows have held up reasonably well and debt has been gradually reduced. Its real strength lies in specialized, patented technologies and deep integration with customers across energy, process industries, and high‑end building markets. Future performance will hinge on restoring margins, maintaining balance‑sheet flexibility, and continuing to commercialize its innovation pipeline across both traditional energy and newer applications like geothermal and sustainable construction.

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