Elmet | 8-K: FY2026 Q2 Revenue: USD 66.4 M

Revenue: As of FY2026 Q2, the actual value is USD 66.4 M.

EPS: As of FY2026 Q2, the actual value is USD -0.16.

EBIT: As of FY2026 Q2, the actual value is USD -7.871 M.

Second Quarter Fiscal Year 2026 Highlights

Operational Metrics

• The Elmet Group Co. reported a gross profit margin of 25.0% for Q2 2026, an improvement of 430 basis points from 20.7% in Q2 2025.
• Net income was - $4.5 million for Q2 2026, compared to $1.2 million in Q2 2025.
• Adjusted net income was approximately $5.2 million for Q2 2026, up from approximately $2.8 million in Q2 2025.
• Adjusted EBITDA increased by 57.9% to approximately $8.9 million, or 13.3% of revenue, in Q2 2026, compared to approximately $5.6 million, or 11.4% of revenue, in Q2 2025.

Unique Metrics

• The open order backlog reached approximately $131.5 million at the end of Q2 2026, increasing from approximately $113.3 million at the end of Q1 2026 and approximately $84.6 million at the end of Q2 2025.
• The Company successfully completed an upsized initial public offering, raising net proceeds of $125.4 million.
• Approximately 55% of the revenue growth is attributed to a net demand increase, with the remaining balance associated with tungsten and molybdenum raw material pricing impacts.

Trailing Twelve Months (“TTM”) Highlights

Operational Metrics

• The TTM gross profit margin improved by 130 basis points to 22.2% of revenue, compared to 20.9% for the 2026 first quarter TTM.
• Net income decreased to approximately - $1.7 million, compared to approximately $4.0 million for the 2026 first quarter TTM.
• Adjusted net income increased to approximately $18.6 million, compared to approximately $16.2 million for the 2026 first quarter TTM.
• Adjusted EBITDA increased by approximately $3.2 million to $31.8 million, or 13.9% of revenue, compared to approximately $28.6 million, or 13.5% of revenue, for the 2026 first quarter TTM.

Six Months Ended July 3, 2026 vs. June 30, 2025

Operational Metrics

• Gross profit for the six months ended July 3, 2026, was $28,458 thousand, up from $18,758 thousand for the six months ended June 30, 2025.
• Total operating expenses were $34,223 thousand for the six months ended July 3, 2026, compared to $12,654 thousand for the six months ended June 30, 2025.
• Operating income was - $5,765 thousand for the six months ended July 3, 2026, a decrease from $6,104 thousand for the six months ended June 30, 2025.
• Net income was - $4,826 thousand for the six months ended July 3, 2026, compared to $2,437 thousand for the six months ended June 30, 2025.

Cash Flow

• Net cash used in operating activities from continuing operations was - $7,572 thousand for the six months ended July 3, 2026, compared to net cash provided of $9,024 thousand for the six months ended June 30, 2025.
• Net cash used in investing activities was - $4,567 thousand for the six months ended July 3, 2026, compared to - $4,712 thousand for the six months ended June 30, 2025.
• Net cash provided by financing activities was $76,540 thousand for the six months ended July 3, 2026, compared to net cash used of - $6,349 thousand for the six months ended June 30, 2025.
• Cash at the end of the period was $66,122 thousand on July 3, 2026, significantly higher than $1,795 thousand on June 30, 2025.
• Cash paid for interest was $1,674 thousand for the six months ended July 3, 2026, down from $1,834 thousand for the six months ended June 30, 2025.
• Cash paid for income taxes was $700 thousand for the six months ended July 3, 2026, with no cash paid for income taxes for the six months ended June 30, 2025.

Outlook / Guidance

Management anticipates continued demand throughout the remainder of the year, driven by strong operational execution and strategic focus on the aerospace, defense & government sectors. The Elmet Group Co. believes the operating environment remains highly favorable due to its strategic position amidst several megatrends in an investment supercycle.