Part I Business Overview UNIFI, Inc. manufactures recycled and synthetic polyester and nylon products globally, navigating 2025 fiscal year demand headwinds and operational adjustments in Americas and Asia, with strong performance in Brazil - UNIFI is a multinational company manufacturing and selling recycled and synthetic polyester and nylon products, primarily for the textile industry, serving end markets such as apparel, home, automotive, industrial, and medical21 - The company operates three reporting segments: Americas, Brazil, and Asia, with direct manufacturing operations in four countries and a joint venture in the United States222326 - UNIFI is committed to strategic growth by accelerating innovation, high-quality manufacturing, expanding the REPREVE® brand, increasing market share in key textile regions, and penetrating new markets beyond apparel242526 - In fiscal year 2025, the Americas segment faced customer demand headwinds, pricing pressure, and lower-than-expected manufacturing utilization, leading to the closure and sale of the Madison, North Carolina plant to consolidate yarn manufacturing operations27 - The Brazil segment performed well in fiscal year 2025, with stable demand and increased market share, despite import pricing pressure and unfavorable exchange rate impacts28 - The Asia segment's performance declined in fiscal year 2025, primarily due to weak demand and changes in the REPREVE product sales mix, especially in apparel, and was adversely affected by tariff fluctuations29 REPREVE® Fiber Sales as a Percentage of Consolidated Net Sales | Fiscal Year | REPREVE® Fiber Sales ($ Thousands) | % of Consolidated Net Sales | | :--- | :--- | :--- | | 2025 | 174,855 | 31% | | 2024 | 188,517 | 32% | | 2023 | 186,161 | 30% | Research and Development Expenses | Fiscal Year | R&D Expenses ($ Thousands) | | :--- | :--- | | 2025 | 8,750 | | 2024 | 9,599 | | 2023 | 10,871 | Consolidated Net Sales by Major End Market for Fiscal Year 2025 | End Market | % of Consolidated Net Sales | | :--- | :--- | | Apparel (including Hosiery and Footwear) | 58% | | Industrial (including Medical, Belting, Tapes, Filtration, Ropes, Protective Fabrics, Awnings) | 12% | | Home Furnishings (including Contract and Residential) | 12% | | Automotive | 6% | | All Other Markets | 12% | Risk Factors The company faces intense competition, reliance on key customers, volatile raw material and energy costs, brand reputation risks, and international operational challenges - The company faces intense competition from domestic and international yarn producers and foreign textile imports, often without long-term contracts, allowing customers to switch suppliers rapidly9596 - A significant portion of the company's sales depends on demand from a few large brand partners, and losing these partners or failing to attract new customers would materially adversely affect the business98 - Petroleum-based chemicals and recycled plastic bottles are primary raw materials, with prices and related energy costs subject to significant volatility, potentially increasing production costs with a time lag that could impact profits99 - The company's future success partly depends on its ability to protect and maintain its trademarks and other intellectual property, and failure to effectively enforce these rights could lead to lost sales or reduced competitive advantage102 - International operations in Brazil, China, Colombia, El Salvador, India, and Turkey face risks including political, tax, and economic uncertainties, trade barriers, currency fluctuations, and foreign exchange controls103104 - Global economic conditions, consumer spending levels, fashion trends, changes in trade policies and tariffs, and the ability to attract and retain qualified employees can all adversely affect the company's business and financial results113115117119 Unresolved Staff Comments There are no unresolved staff comments in this report - There are no unresolved staff comments in this report124 Cybersecurity The company maintains an enterprise cybersecurity program to detect, identify, classify, and mitigate threats, prioritizing high-risk issues to ensure system resilience - The company has established an enterprise cybersecurity program designed to detect, identify, classify, and mitigate cybersecurity and other data security threats, prioritizing mitigation efforts based on risk levels125 - The cybersecurity program includes vulnerability management, access management, and user awareness training, with regular system updates, vulnerability scans, phishing tests, and security awareness training126 - The company has experienced cybersecurity attacks, none of which had a material impact on operations, business, or financial condition, and maintains cyber liability insurance for potential losses111127 - Daily management of cybersecurity risks is handled by the information technology security team, overseen by the Chief Information Officer (CIO) who reports to the Chief Executive Officer; the Audit Committee oversees risk assessment and management, including cybersecurity risks128129130 Properties As of June 29, 2025, UNIFI owns or leases various properties, including its headquarters and manufacturing, warehousing, and sales facilities across its Americas, Brazil, and Asia segments - As of June 29, 2025, UNIFI owns or leases several key properties, including its corporate headquarters and manufacturing, warehousing, and sales facilities for its Americas, Brazil, and Asia segments132 - In fiscal year 2025, the company sold a warehouse in Yadkinville, North Carolina, and a manufacturing plant in Madison, North Carolina132 - Management believes all operating properties are well-maintained, in good condition, and anticipate sufficient future capacity without bottlenecks132 Legal Proceedings The company is involved in various legal proceedings arising in the ordinary course of business, for which provisions are made when liabilities are probable and estimable - The company is occasionally involved in various lawsuits, claims, and other legal proceedings arising in the ordinary course of business134 - The company accrues provisions when a liability is probable and the amount can be reasonably estimated134 - Management believes that any such proceedings, individually or in aggregate, are not expected to have a material adverse effect on the company's operating results, financial condition, or cash flows134 Mine Safety Disclosures This item is not applicable - This item is not applicable135 Information About our Executive Officers This section details UNIFI's senior management, including CEO Edmund M. Ingle, Executive Chairman Albert P. Carey, and other executive vice presidents - Edmund M. Ingle has served as UNIFI's Chief Executive Officer and a board member since June 2020, with prior leadership roles at Indorama Ventures and UNIFI137 - Albert P. Carey has been Executive Chairman since April 2019, following a 38-year career at PepsiCo, Inc. in various senior leadership positions138 - Andrew J. Eaker has served as Executive Vice President and Chief Financial Officer since January 2024, Treasurer since December 2022, and held various financial leadership roles since joining UNIFI in 2014139 - Hongjun Ning has served as Executive Vice President since July 2020 and President of Unifi Asia Pacific since June 2017140 - Brian D. Moore has served as Executive Vice President and President of Unifi Manufacturing, Inc. since January 2024, with prior leadership roles at UNIFI, Scovill Fasteners Ltd., and Prym Fashion141 - Meredith S. Boyd has served as Executive Vice President and Chief Product Officer since January 2024, previously holding roles such as Senior Vice President of Sustainability, Technology & Innovation at UNIFI142 Part II Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities UNIFI's common stock trades on the NYSE under "UFI", with no dividends paid in the last two fiscal years, and a board-approved stock repurchase program with $38,859 thousand remaining for buybacks - UNIFI's common stock is listed on the New York Stock Exchange (NYSE) under the trading symbol “UFI”3 - As of August 21, 2025, the company had 110 record holders and an estimated 4,550 beneficial owners of its common stock145 - No dividends were paid in the past two fiscal years, and the company does not intend to pay cash dividends in the foreseeable future due to restrictions in existing debt obligations regarding dividend payments and stock repurchases146 - The company's Board of Directors approved a stock repurchase program (2018 SRP) on October 31, 2018, authorizing the repurchase of up to $50,000 thousand of common stock40147 2018 SRP Stock Repurchase Program Overview (as of June 29, 2025) | Metric | Amount/Quantity | | :--- | :--- | | Total Shares Repurchased | 701 shares | | Average Repurchase Price | $15.90/share | | Fiscal Year 2025 Repurchases | 0 shares | | Remaining Amount Available for Repurchase | $38,859 Thousand | - The company will continue to evaluate opportunities to repurchase stock using operating cash flow or existing borrowings, while maintaining sufficient liquidity for operations and future strategic growth41148 Reserved This item is reserved and contains no content Management's Discussion and Analysis of Financial Condition and Results of Operations This section discusses UNIFI's financial condition and operating results for fiscal years 2025, 2024, and 2023, highlighting strategic focus on innovation and sustainability, macroeconomic challenges, and liquidity enhancements - UNIFI's strategic focus is on providing differentiated solutions to global customers and brand partners through innovation and sustainability, having expanded its supply chain across multiple regions worldwide158159 - In fiscal year 2025, the company faced demand volatility due to inflationary pressures and global trade policy uncertainties, particularly in the Americas and Asia segments161 - The company responded to challenges through cost-saving measures, including integrating Americas yarn manufacturing operations and closing and selling the Madison plant161 - Raw material costs and foreign currency exchange rate fluctuations continue to impact company performance, with efforts to mitigate effects through sales price adjustments, subject to time lags162164165 - The company secured a new $25,000 thousand revolving credit facility (2024 Facility) in October 2024 and used asset sale proceeds to repay some debt, enhancing liquidity231239241 Strategic Priorities UNIFI aims for strategic growth by investing in innovation, expanding the REPREVE® brand, increasing market share, and penetrating new markets beyond apparel - UNIFI is committed to strategically investing in accelerating innovation and high-quality manufacturing processes, expanding the REPREVE® brand, increasing market share in key textile regions, and penetrating new markets beyond apparel2426 - The company has developed and enhanced supply chains across multiple global regions, offering diversified fiber and polymer products, especially in the apparel market24158 - UNIFI has built a successful operating platform by improving operational and business processes and deriving value from sustainability initiatives, including polyester and nylon recycling24158 - The company focuses on innovation to bring next-generation fibers and polymers to market, believing that combining leading innovation, high-quality brands, and flexible regional business models will drive sales and profitability growth25159 Significant Developments and Trends UNIFI has navigated varied market conditions, from COVID-19 impacts and global recovery to recent demand weakness, inventory destocking, and strategic operational adjustments - In fiscal year 2020, the COVID-19 pandemic significantly and adversely impacted product demand and annual profitability, but the company substantially improved liquidity by divesting a minority equity investment161 - In fiscal year 2021, the company's business gradually improved with global demand and economic recovery, capitalizing on profitable opportunities to drive strong consolidated results161 - Fiscal years 2023 and 2024 saw continued weak global textile demand, with brands and retailers destocking inventory, leading to reduced order volumes in the Americas and Asia segments161 - In fiscal year 2025, inflationary pressures and global trade policy uncertainties resulted in demand volatility and customer demand headwinds, particularly in the Americas and Asia segments161 - The REPREVE product line continues to gain traction with brands, retailers, and mill partners, driving expansion of the product portfolio167 - Lower-than-expected manufacturing utilization and production levels in the Americas segment led the company to initiate plans to transfer Madison plant manufacturing operations to other North and Central American production facilities167 - The Brazil segment faced pricing pressure from lower-cost imported products in fiscal year 2025, yet maintained strong sales volumes and margins167 Weighted Average Exchange Rates for Brazilian Real (BRL) and Chinese Yuan (RMB) to US Dollar (USD) | Fiscal Year | BRL to USD | RMB to USD | | :--- | :--- | :--- | | 2025 | 5.71 | 7.21 | | 2024 | 5.01 | 7.22 | | 2023 | 5.17 | 6.94 | Key Performance Indicators and Non-GAAP Financial Measures UNIFI utilizes various KPIs and non-GAAP financial measures, including sales volume, gross profit, net income, segment profit, EBITDA, and net debt, to assess operational performance and financial health - UNIFI uses key performance indicators such as sales volume and revenue, gross profit (loss) and gross margin, net (loss) income and earnings (loss) per share (EPS) to measure its success174 - Non-GAAP financial measures include EBITDA, Adjusted EBITDA, Adjusted Net (Loss) Income, Adjusted EPS, Adjusted Working Capital, and Net Debt174 - Management believes these non-GAAP measures better reflect UNIFI's underlying operations and performance, providing a view of operating results unaffected by differences in capital structure, capital investment cycles, and asset age169 - Adjusted EBITDA is used to measure operating performance, for planning, evaluating operational performance and debt service capacity, and as a key metric for determining variable compensation170 - Adjusted Net (Loss) Income and Adjusted EPS are used to measure net operating performance, excluding non-recurring items and tax impacts171 - Adjusted Working Capital indicates production efficiency and inventory/receivables management, while Net Debt measures liquidity and leverage172 Review of Results of Operations for Fiscal 2025, 2024 and 2023 UNIFI's consolidated operating results for fiscal year 2025 show a slight net sales decrease but a significantly narrowed net loss due to asset sale gains, offset by lower gross profit and higher restructuring costs Consolidated Operating Results Overview ($ Thousands) | Metric | Fiscal Year 2025 | Fiscal Year 2024 | Fiscal Year 2023 | | :--- | :--- | :--- | :--- | | Net Sales | 571,344 | 582,209 | 623,527 | | Cost of Sales | 562,926 | 565,593 | 609,286 | | Gross Profit | 8,418 | 16,616 | 14,241 | | Selling, General & Administrative Expenses (SG&A) | 49,005 | 46,632 | 47,345 | | Operating Loss | (9,520) | (37,421) | (40,871) | | Net Loss | (20,348) | (47,395) | (46,344) | EBITDA and Adjusted EBITDA ($ Thousands) | Metric | Fiscal Year 2025 | Fiscal Year 2024 | Fiscal Year 2023 | | :--- | :--- | :--- | :--- | | Net Loss | (20,348) | (47,395) | (46,344) | | EBITDA | 15,067 | (10,298) | (12,955) | | Adjusted EBITDA | (11,551) | (5,197) | (4,085) | Adjusted Net Loss and Adjusted EPS | Metric | Fiscal Year 2025 | Fiscal Year 2024 | Fiscal Year 2023 | | :--- | :--- | :--- | :--- | | GAAP Net Loss ($ Thousands) | (20,348) | (47,395) | (46,344) | | Adjusted Net Loss ($ Thousands) | (47,859) | (42,294) | (41,273) | | GAAP Diluted EPS | (1.11) | (2.61) | (2.57) | | Adjusted EPS | (2.61) | (2.33) | (2.29) | - Fiscal year 2025 net sales decreased by 1.9% year-over-year, primarily due to lower sales in the Asia segment, partially offset by improved sales volume and pricing in the Brazil segment, which was then offset by unfavorable exchange rate impacts189 - Gross profit for fiscal year 2025 decreased to $8,418 thousand from $16,616 thousand in fiscal year 2024, mainly due to a decline in overall conversion margins and lower utilization and productivity from the integration of Americas yarn manufacturing operations195 - SG&A expenses increased in fiscal year 2025, primarily due to higher compensation-related expenses and professional service fees, partially offset by reduced depreciation and amortization expenses199 - Net loss for fiscal year 2025 was $20,348 thousand (diluted loss per share of $1.11), an improvement from $47,395 thousand (diluted loss per share of $2.61) in fiscal year 2024, primarily driven by gains on asset sales, partially offset by lower gross profit and increased restructuring costs213 - Adjusted EBITDA for fiscal year 2025 decreased to ($11,551) thousand from ($5,197) thousand in fiscal year 2024, mainly due to lower gross profit and higher SG&A expenses, partially offset by an improvement in bad debt expense215 Segment Overview UNIFI's Americas segment saw profit decline due to integration costs, while Brazil achieved sales and profit growth, and Asia experienced reduced sales and profit from demand weakness and tariffs Net Sales by Segment ($ Thousands) | Segment | Fiscal Year 2025 | Fiscal Year 2024 | Fiscal Year 2023 | | :--- | :--- | :--- | :--- | | Americas | 347,931 | 344,256 | 389,662 | | Brazil | 118,726 | 117,783 | 119,062 | | Asia | 104,687 | 120,170 | 114,803 | | Total | 571,344 | 582,209 | 623,527 | Segment Profit ($ Thousands) | Segment | Fiscal Year 2025 | Fiscal Year 2024 | Fiscal Year 2023 | | :--- | :--- | :--- | :--- | | Americas | 786 | 4,524 | 7,385 | | Brazil | 18,798 | 18,012 | 14,197 | | Asia | 12,665 | 19,501 | 16,738 | | Total | 32,249 | 42,037 | 38,320 | - The Americas segment's net sales increased by 1.1% year-over-year in fiscal year 2025, primarily due to higher sales volume, partially offset by a lower-priced sales mix218 - The Americas segment's profit decreased by 82.6% in fiscal year 2025, mainly due to lower-than-expected manufacturing utilization, inconsistent productivity, and transition costs related to yarn manufacturing operations integration220 - The Brazil segment's net sales increased by 0.8% year-over-year in fiscal year 2025, primarily due to higher average selling prices from increased raw material costs and higher sales volume from increased market share, partially offset by unfavorable exchange rate impacts from a weaker Brazilian Real against the U.S. Dollar222 - The Brazil segment's profit increased by 4.4% year-over-year in fiscal year 2025, primarily due to higher conversion margins and increased sales volume, but was impacted by unfavorable exchange rates224 - The Asia segment's net sales decreased by 12.9% year-over-year in fiscal year 2025, primarily due to changes in the REPREVE product sales mix and an overall decrease in sales volume (affected by customer demand headwinds and tariff fluctuations), partially offset by favorable exchange rate impacts from a stronger Chinese Yuan against the U.S. Dollar226 - The Asia segment's profit decreased by 35.1% in fiscal year 2025, primarily due to lower gross margins from changes in the REPREVE product sales mix and reduced sales volume from customer demand headwinds and tariff fluctuations228 Liquidity and Capital Resources UNIFI's liquidity is supported by operating cash flow and credit facilities, with a new $25,000 thousand revolving credit line secured in 2024 and debt reduction from asset sales - UNIFI's primary capital needs are for working capital, capital expenditures, and debt service, with main capital sources being operating cash flow and borrowings under the 2022 ABL Revolving Credit Facility and the 2024 Facility230 - On October 25, 2024, UNIFI entered into a new $25,000 thousand revolving credit facility (2024 Facility), secured by related party collateral, and borrowed $22,000 thousand in fiscal year 2025 to reduce existing ABL revolving credit balances231251 Liquidity, Working Capital, and Total Debt Overview (as of June 29, 2025, $ Thousands) | Metric | Domestic | Foreign | Total | | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 21 | 22,643 | 22,664 | | Available Borrowing Capacity | 47,087 | — | 47,087 | | Available Liquidity | 30,608 | 22,643 | 53,251 | | Working Capital | 53,224 | 111,460 | 164,684 | | Total Debt Obligations | 108,008 | — | 108,008 | - In fiscal year 2025, cash flow from operating activities was an outflow of $21,311 thousand, cash flow from investing activities was an inflow of $41,065 thousand, and cash flow from financing activities was an outflow of $24,421 thousand269272 Debt Obligations Details (as of June 29, 2025, $ Thousands) | Debt Type | Weighted Average Interest Rate | Principal Amount as of June 29, 2025 | | :--- | :--- | :--- | | ABL Revolving Credit | 6.6% | 11,000 | | 2024 Facility | 5.2% | 22,000 | | ABL Term Loan | 6.4% | 67,000 | | Finance Lease Obligations | 5.1% | 8,008 | | Total Debt | | 108,008 | Net Debt ($ Thousands) | Metric | June 29, 2025 | June 30, 2024 | | :--- | :--- | :--- | | Principal Amount of Debt | 108,008 | 130,299 | | Less: Cash and Cash Equivalents | 22,664 | 26,805 | | Net Debt | 85,344 | 103,494 | - In fiscal year 2025, UNIFI invested $10,488 thousand in capital projects, primarily for machinery modifications related to yarn manufacturing operations integration, Americas production capacity and technology enhancements, and routine maintenance261 - The company anticipates investing between $8,000 thousand and $12,000 thousand in capital projects for fiscal year 2026, primarily for routine annual maintenance capital expenditures263 Contractual Obligations UNIFI's contractual obligations include legally binding purchase and service agreements, with non-capital purchase orders totaling approximately $13,218 thousand expected to settle in fiscal year 2026 - Purchase obligations are enforceable and legally binding agreements covering fixed or minimum purchase volumes, price terms, and transaction timing, primarily related to ordinary operations and service contracts, ranging from approximately $1,000 thousand to $10,000 thousand annually279 - As of the end of fiscal year 2025, non-capital purchase orders totaled approximately $13,218 thousand, expected to settle in fiscal year 2026, primarily for raw material purchases, manufacturing consumables, outsourced services, and third-party finished goods purchases279 - The company does not engage in off-balance sheet arrangements and only enters into significant contracts or hedges risks in the ordinary course of business275 Recent Accounting Pronouncements UNIFI is evaluating the impact of recent FASB accounting standards, including ASU 2024-03 on income statement expense disaggregation and ASU 2023-09 on income tax disclosures, while having adopted ASU 2023-07 - In November 2024, the FASB issued ASU 2024-03, requiring disaggregation of income statement expense categories, including inventory purchases, employee compensation, depreciation, amortization, and selling expenses, effective for fiscal year 2028276406 - In December 2023, the FASB issued ASU 2023-09, improving income tax disclosure requirements, including specific categories in the rate reconciliation table, pre-tax income (loss) disaggregated by domestic and foreign, and income tax expense or benefit disaggregated by federal, state, and foreign, effective for fiscal year 2026277407 - UNIFI adopted ASU 2023-07 in the current fiscal year, which expanded reportable segment disclosures but did not have a material impact on the consolidated financial statements280409 Off-Balance Sheet Arrangements UNIFI has not entered into any off-balance sheet arrangements that have or are reasonably likely to have a material effect on its financial condition, results of operations, liquidity, or capital expenditures - UNIFI has not entered into any off-balance sheet arrangements that have or are reasonably likely to have a material effect on its financial condition, results of operations, liquidity, or capital expenditures281 Critical Accounting Policies UNIFI's critical accounting policies include inventory net realizable value adjustments, based on historical recovery rates, inventory aging, expected net realizable value of specific products, and current economic conditions - Inventory net realizable value adjustment is one of UNIFI's critical accounting policies, established based on various factors including historical recovery rates, inventory aging, expected net realizable value of specific products, and current economic conditions283 - The company establishes specific reserves based on judgments regarding inventory obsolescence and whether inventory costs exceed net realizable value, using current and historical knowledge to reasonably estimate markdown percentages and expected selling prices283 - Management believes that differences between actual demand or selling prices and forecasts are not likely to have a material impact on the company's financial condition or results of operations283 Inventory Net Realizable Value Adjustment ($ Thousands) | Fiscal Year | Adjustment Amount | | :--- | :--- | | June 29, 2025 | (3,964) | | June 30, 2024 | (3,813) | | July 2, 2023 | (5,625) | Quantitative and Qualitative Disclosures About Market Risk UNIFI faces market risks from interest rate changes, foreign currency fluctuations, and raw material costs, but does not use derivative financial instruments for trading purposes - UNIFI faces market risks related to changes in interest rates, foreign currency exchange rate fluctuations, and raw material and commodity costs, but does not engage in derivative financial instruments for trading purposes285287290 - As of June 29, 2025, the company had $100,000 thousand in variable-rate debt, and a sensitivity analysis indicates that a 50 basis point increase in interest rates would increase annual interest expense by approximately $500 thousand286 - Foreign currency exchange rate risk primarily stems from fluctuations in the Brazilian Real (BRL) and Chinese Yuan (RMB), and the company does not use derivative instruments to hedge its net investments in foreign operations288 Foreign Currency Exchange Rate Risk Overview (as of June 29, 2025) | Metric | Amount/Percentage | | :--- | :--- | | % of Total Assets from Non-USD Functional Currency Subsidiaries Outside the U.S. | 32% | | Total Cash and Cash Equivalents Outside the U.S. | $20,534 Thousand | | Of which: USD Denominated | $11,813 Thousand | | Of which: RMB Denominated | $665 Thousand | | Of which: BRL Denominated | $7,360 Thousand | | Of which: Other Foreign Currency Denominated | $696 Thousand | | % of Total Cash and Cash Equivalents Outside the U.S. | 91% | - Raw material and energy costs, primarily from petroleum-based chemicals, are highly volatile, and the company manages this through sales price adjustments, though with a time lag290 - The company faces risks related to cash deposits and financial institutions, but management believes its cash deposits are primarily held in large foreign banks, with the ability to repatriate cash to the U.S292 Financial Statements and Supplementary Data The company's consolidated financial statements and related notes begin on page F-i of this report - The company's consolidated financial statements and related notes begin on page F-i of this report294 Changes in and Disagreements With Accountants on Accounting and Financial Disclosure There are no changes in or disagreements with accountants on accounting and financial disclosure in this report - There are no changes in or disagreements with accountants on accounting and financial disclosure in this report295 Controls and Procedures As of June 29, 2025, UNIFI management concluded that its disclosure controls and procedures and internal control over financial reporting are effective, with KPMG LLP issuing an unqualified opinion - As of June 29, 2025, UNIFI management, including the Chief Executive Officer and Chief Financial Officer, assessed and concluded that the company's disclosure controls and procedures are effective296 - Management is responsible for establishing and maintaining adequate internal control over financial reporting and assessed its effectiveness, concluding that as of June 29, 2025, internal control over financial reporting was effective, meeting COSO framework criteria297299 - KPMG LLP, an independent registered public accounting firm, issued an unqualified opinion on the effectiveness of UNIFI's internal control over financial reporting as of June 29, 2025300 - There were no material changes in internal control over financial reporting during the quarter ended June 29, 2025301 Other Information No Rule 10b5-1 or non-Rule 10b5-1 trading arrangements were adopted, modified, or terminated by company directors or officers during the quarter ended June 29, 2025 - No Rule 10b5-1 or non-Rule 10b5-1 trading arrangements were adopted, modified, or terminated by company directors or officers during the quarter ended June 29, 2025302 Disclosure Regarding Foreign Jurisdictions that Prevent Inspections This item is not applicable - This item is not applicable303 Part III Directors, Executive Officers and Corporate Governance Information on directors, executive officers, and corporate governance is provided by reference to the company's 2025 Annual Meeting of Shareholders proxy statement, including adopted codes of ethics and insider trading policies - Information about the company's executive officers is disclosed under the "Information About our Executive Officers" heading in Part I of this report305 - The company has adopted a Code of Ethics for Senior Financial and Executive Officers, applicable to the CEO, CFO, Chief Accounting Officer, and those performing similar functions, available on the company's website306 - The company has adopted an Insider Trading Policy designed to promote compliance with insider trading laws, regulations, and listing standards308 - The company's non-employee directors include Emma S. Battle, Francis S. Blake, Albert P. Carey, Kenneth G. Langone, Suzanne M. Present, Rhonda L. Ramlo, and Eva T. Zlotnicka307 Executive Compensation Information regarding executive compensation is incorporated by reference from the company's proxy statement under various related headings - Executive compensation information is provided by reference to relevant headings in the company's proxy statement309 Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters Information on security ownership of certain beneficial owners and management and related stockholder matters is incorporated by reference from the company's proxy statement - Security ownership information is provided by reference to relevant headings in the company's proxy statement310 Certain Relationships and Related Transactions, and Director Independence Information on certain relationships, related transactions, and director independence is incorporated by reference from the company's proxy statement under various corporate governance headings - Related transactions and director independence information is provided by reference to relevant headings in the company's proxy statement311 Principal Accountant Fees and Services Information regarding principal accountant fees and services is incorporated by reference from the company's proxy statement under the "Approval of Appointment of Independent Registered Public Accounting Firm" heading - Principal accountant fees and services information is provided by reference to relevant headings in the company's proxy statement312 Part IV Exhibits and Financial Statement Schedules This section lists UNIFI's financial statements, schedules, and various exhibits, including corporate charters, credit agreements, incentive plans, and other governance documents - Financial statements are filed as part of this report, and schedules are not applicable315317 - The exhibit list includes corporate charters, credit agreements, incentive plans, employment agreements, sales and service agreements, and other corporate governance documents318319320321 - Some exhibits are incorporated by reference, such as the Second Amended and Restated Credit Agreement dated October 28, 2022, and its subsequent amendments318 Form 10-K Summary There is no Form 10-K summary in this report - There is no Form 10-K summary in this report323 SIGNATURES This report is duly signed by authorized registrants, including the CEO and CFO, on August 26, 2025, in accordance with the Securities Exchange Act of 1934 - This report has been duly signed on behalf of the registrant by its authorized signatories in accordance with the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934326 - Signatories include CEO Edmund M. Ingle and Executive Vice President and CFO Andrew J. Eaker, along with several members of the Board of Directors327329 - The report was signed on August 26, 2025327329 CONSOLIDATED FINANCIAL STATEMENTS This section presents UNIFI, Inc.'s consolidated financial statements, including balance sheets, statements of operations, comprehensive loss, shareholders' equity, and cash flows, with accompanying notes - This section contains the consolidated financial statements of UNIFI, Inc. and its subsidiaries, including the Consolidated Balance Sheets, Consolidated Statements of Operations, Consolidated Statements of Comprehensive Loss, Consolidated Statements of Shareholders' Equity, and Consolidated Statements of Cash Flows331 - KPMG LLP, an independent registered public accounting firm, has issued an unqualified opinion on the consolidated financial statements and the effectiveness of internal control over financial reporting333334343344 Reports of Independent Registered Public Accounting Firm KPMG LLP issued an unqualified opinion on UNIFI, Inc.'s consolidated financial statements and internal control over financial reporting as of June 29, 2025, highlighting inventory net realizable value as a key audit matter - KPMG LLP issued an unqualified opinion on UNIFI, Inc.'s consolidated financial statements as of June 29, 2025, and June 30, 2024, stating they are presented fairly in all material respects in conformity with U.S. GAAP333 - KPMG LLP also issued an unqualified opinion on the effectiveness of the company's internal control over financial reporting as of June 29, 2025334343 - The evaluation of net realizable value for raw materials and finished goods inventory was identified as a critical audit matter, involving complex judgments in assessing recovery rates and historical experience338339 Consolidated Balance Sheets As of June 29, 2025, UNIFI's total assets were $426,868 thousand, with $22,664 thousand in cash and cash equivalents, $122,929 thousand in inventory, and $95,727 thousand in long-term debt Consolidated Balance Sheets Overview (as of June 29, 2025, and June 30, 2024, $ Thousands) | Metric | June 29, 2025 | June 30, 2024 | | :--- | :--- | :--- | | Assets | | | | Cash and Cash Equivalents | 22,664 | 26,805 | | Accounts Receivable, Net | 75,383 | 79,165 | | Inventories | 122,929 | 131,181 | | Total Current Assets | 235,627 | 248,933 | | Property, Plant, and Equipment, Net | 172,923 | 193,723 | | Total Assets | 426,868 | 469,244 | | Liabilities and Shareholders' Equity | | | | Accounts Payable | 37,468 | 43,622 | | Total Current Liabilities | 70,943 | 76,566 | | Long-Term Debt | 95,727 | 117,793 | | Total Liabilities | 177,397 | 205,859 | | Total Shareholders' Equity | 249,471 | 263,385 | | Total Liabilities and Shareholders' Equity | 426,868 | 469,244 | Consolidated Statements of Operations UNIFI reported net sales of $571,344 thousand and a net loss of $20,348 thousand (diluted loss per share of $1.11) for fiscal year 2025, an improvement from fiscal year 2024 Consolidated Statements of Operations Overview (as of June 29, 2025, June 30, 2024, and July 2, 2023, $ Thousands, except per share amounts) | Metric | Fiscal Year 2025 | Fiscal Year 2024 | Fiscal Year 2023 | | :--- | :--- | :--- | :--- | | Net Sales | 571,344 | 582,209 | 623,527 | | Cost of Sales | 562,926 | 565,593 | 609,286 | | Gross Profit | 8,418 | 16,616 | 14,241 | | Selling, General & Administrative Expenses | 49,005 | 46,632 | 47,345 | | Operating Loss | (9,520) | (37,421) | (40,871) | | Net Loss | (20,348) | (47,395) | (46,344) | | Basic Net Loss Per Share | (1.11) | (2.61) | (2.57) | | Diluted Net Loss Per Share | (1.11) | (2.61) | (2.57) | Consolidated Statements of Comprehensive Loss UNIFI's net loss for fiscal year 2025 was $20,348 thousand, with other comprehensive income of $3,280 thousand from foreign currency translation adjustments, resulting in a comprehensive loss of $17,068 thousand Consolidated Statements of Comprehensive Loss Overview (as of June 29, 2025, June 30, 2024, and July 2, 2023, $ Thousands) | Metric | Fiscal Year 2025 | Fiscal Year 2024 | Fiscal Year 2023 | | :--- | :--- | :--- | :--- | | Net Loss | (20,348) | (47,395) | (46,344) | | Other Comprehensive Income (Loss): Foreign Currency Translation Adjustments | 3,280 | (14,898) | 5,714 | | Comprehensive Loss | (17,068) | (62,293) | (40,630) | Consolidated Statements of Shareholders' Equity As of June 29, 2025, UNIFI's total shareholders' equity was $249,471 thousand, a decrease from $263,385 thousand in 2024, primarily due to the net loss, partially offset by foreign currency translation adjustments Consolidated Statements of Shareholders' Equity Overview (as of June 29, 2025, June 30, 2024, and July 2, 2023, $ Thousands) | Metric | June 29, 2025 | June 30, 2024 | July 2, 2023 | | :--- | :--- | :--- | :--- | | Common Stock | 1,836 | 1,825 | 1,808 | | Capital in Excess of Par Value | 74,095 | 70,952 | 68,901 | | Retained Earnings | 239,049 | 259,397 | 306,792 | | Accumulated Other Comprehensive Loss | (65,509) | (68,789) | (53,891) | | Total Shareholders' Equity | 249,471 | 263,385 | 323,610 | - In fiscal year 2025, net loss was $20,348 thousand, with a comprehensive income of $3,280 thousand from foreign currency translation adjustments359 - Activities such as stock option exercises, stock compensation, and conversion of equity units impacted shareholders' equity359 Consolidated Statements of Cash Flows UNIFI's fiscal year 2025 saw a $21,311 thousand cash outflow from operations, a $41,065 thousand inflow from investing activities (driven by asset sales), and a $24,421 thousand outflow from financing activities Consolidated Statements of Cash Flows Overview (as of June 29, 2025, June 30, 2024, and July 2, 2023, $ Thousands) | Cash Flow Type | Fiscal Year 2025 | Fiscal Year 2024 | Fiscal Year 2023 | | :--- | :--- | :--- | :--- | | Net Cash (Used in) Provided by Operating Activities | (21,311) | 2,092 | 4,740 | | Net Cash Provided by (Used in) Investing Activities | 41,065 | (10,670) | (36,225) | | Net Cash (Used in) Provided by Financing Activities | (24,421) | (10,607) | 25,938 | | Effect of Exchange Rate Changes | 526 | (970) | (783) | | Net Decrease in Cash and Cash Equivalents | (4,141) | (20,155) | (6,330) | | Cash and Cash Equivalents at End of Period | 22,664 | 26,805 | 46,960 | - In fiscal year 2025, cash flow from operating activities was an outflow of $21,311 thousand, primarily influenced by net loss and changes in working capital270362 - Cash flow from investing activities in fiscal year 2025 was an inflow of $41,065 thousand, mainly driven by proceeds from asset sales ($51,553 thousand), offsetting capital expenditures ($10,488 thousand)272362 - Cash flow from financing activities in fiscal year 2025 was an outflow of $24,421 thousand, primarily for net payments on the 2022 ABL Facility debt ($20,900 thousand) and finance lease obligations ($3,093 thousand)272362 Notes to Consolidated Financial Statements This section provides detailed notes to UNIFI's consolidated financial statements, covering company background, significant accounting policies, recent pronouncements, leases, revenue recognition, and various balance sheet and income statement items 1. Background UNIFI, Inc., founded in 1969, is a multinational company producing recycled and synthetic polyester and nylon products for the global textile industry, with fiscal years ending around June 30th - UNIFI, Inc., founded in 1969, is a multinational company primarily manufacturing and selling recycled and synthetic polyester and nylon products, serving the global textile industry365 - The company's products include POY, textured yarn, dyed yarn, and offers recycling solutions such as plastic bottle flake and polyester polymer chip365 - UNIFI's fiscal year ends on the Sunday closest to June 30th each year, with fiscal years 2025, 2024, and 2023 each consisting of 52 weeks368 - All amounts, except per share amounts, are presented in thousands of U.S. dollars367 2. Summary of Significant Accounting Policies UNIFI adheres to U.S. GAAP, consolidating controlled entities and making estimates for financial statement amounts, with key policies covering cash, receivables, inventory, property, intangible assets, income taxes, and revenue recognition - UNIFI adheres to U.S. Generally Accepted Accounting Principles (GAAP), consolidating subsidiaries where it holds a controlling financial interest370371 - Cash equivalents are defined as highly liquid short-term investments with original maturities of three months or less373 - Accounts receivable are presented net of allowances for expected lifetime credit losses and quality claims375 - Inventory is measured at the lower of cost or net realizable value, with most inventory costs determined using the first-in, first-out (FIFO) method376 - Property, plant, and equipment are stated at historical cost less accumulated depreciation, primarily using the straight-line method, across asset classes including land improvements, buildings, machinery and equipment, computer software and office equipment, and transportation equipment378 - Finite-lived intangible assets, such as customer lists, non-compete agreements, and trademarks, are amortized over their estimated useful lives386 - Income taxes are accounted for using the asset and liability method, with deferred tax assets and liabilities determined based on financial statement and tax basis differences and enacted tax rates391 - Stock-based compensation expense is based on the grant-date fair value and amortized over the applicable vesting period393 - Revenue is recognized when performance obligations under customer contracts are satisfied, primarily upon shipment or delivery of goods to the customer397 Research and Development Expenses ($ Thousands) | Fiscal Year | R&D Expenses | | :--- | :--- | | 2025 | 8,750 | | 2024 | 9,599 | | 2023 | 10,871 | Advertising Expenses ($ Thousands) | Fiscal Year | Advertising Expenses | | :--- | :--- | | 2025 | 2,783 | | 2024 | 3,091 | | 2023 | 4,003 | 3. Recent Accounting Pronouncements UNIFI is evaluating the impact of recent FASB accounting standards, including ASU 2024-03 on income statement expense disaggregation and ASU 2023-09 on income tax disclosures, while having adopted ASU 2023-07 - In November 2024, the FASB issued ASU 2024-03, requiring disaggregation of income statement expense categories, including inventory purchases, employee compensation, depreciation, amortization, and selling expenses, effective for fiscal year 2028406 - In December 2023, the FASB issued ASU 2023-09, improving income tax disclosure requirements, including specific categories in the rate reconciliation table, pre-tax income (loss) disaggregated by domestic and foreign, and income tax expense or benefit disaggregated by federal, state, and foreign, effective for fiscal year 2026407 - UNIFI adopted ASU 2023-07 in the current fiscal year, which expanded reportable segment disclosures but did not have a material impact on the consolidated financial statements409 4. Leases UNIFI leases various assets with terms from 1 to 15 years, adopting short-term lease exemptions and non-lease component practical expedients, reporting $18,638 thousand in lease assets and $15,990 thousand in lease liabilities as of June 29, 2025 - UNIFI leases sales and administrative office space, warehousing and distribution centers, manufacturing space, transportation equipment, manufacturing equipment, and other information technology and office equipment, with lease terms ranging from 1 to 15 years410 - The company has adopted the short-term lease accounting policy exemption and the practical expedient not to separate lease and non-lease components within the transportation equipment asset class412 Lease Assets and Liabilities (as of June 29, 2025, and June 30, 2024, $ Thousands) | Classification | June 29, 2025 | June 30, 2024 | | :--- | :--- | :--- | | Total Lease Assets | 18,638 | 18,940 | | Total Lease Liabilities | 15,990 | 17,774 | Total Lease Costs (Fiscal Years 2025 and 2024, $ Thousands) | Lease Cost Type | Fiscal Year 2025 | Fiscal Year 2024 | | :--- | :--- | :--- | | Operating Lease Costs | 2,730 | 2,547 | | Variable Lease Costs | 643 | 617 | | Finance Lease Costs (Amortization and Interest) | 2,203 | 2,417 | | Short-Term Lease Costs | 1,397 | 1,155 | | Total Lease Costs | 6,973 | 6,736 | Weighted Average Remaining Lease Term and Discount Rate (as of June 29, 2025, and June 30, 2024) | Metric | June 29, 2025 | June 30, 2024 | | :--- | :--- | :--- | | Operating Leases Weighted Average Remaining Lease Term (Years) | 4.5 | 4.9 | | Finance Leases Weighted Average Remaining Lease Term (Years) | 3.3 | 3.2 | | Operating Leases Weighted Average Discount Rate (Percentage) | 5.1% | 4.9% | | Finance Leases Weighted Average Discount Rate (Percentage) | 5.2% | 5.2% | 5. Revenue Recognition UNIFI recognizes revenue primarily from product sales to third-party manufacturers and service provision, with REPREVE® Fiber being a key product line, and variable consideration estimated using the expected value method Net Sales by Customer Type ($ Thousands) | Customer Type | Fiscal Year 2025 | Fiscal Year 2024 | Fiscal Year 2023 | | :--- | :--- | :--- | :--- | | Third-Party Manufacturers | 567,158 | 577,636 | 618,391 | | Services | 4,186 | 4,573 | 5,136 | | Net Sales | 571,344 | 582,209 | 623,527 | REPREVE® Fiber Sales ($ Thousands) | Product Type | Fiscal Year 2025 | Fiscal Year 2024 | Fiscal Year 2023 | | :--- | :--- | :--- | :--- | | REPREVE® Fiber | 174,855 | 188,517 | 186,161 | | All Other Products and Services | 396,489 | 393,692 | 437,366 | | Net Sales | 571,344 | 582,209 | 623,527 | - Revenue is recognized when performance obligations under customer contracts are satisfied, primarily upon shipment or delivery of goods to the customer397 - REPREVE® Fiber is UNIFI's line of fiber products on its recycling platform421 - The company uses the expected value method to estimate all variable consideration, such as volume-based incentives and product claims, which are treated as deductions from revenue422 6. Receivables, Net As of June 29, 2025, UNIFI's net receivables totaled $75,383 thousand, a decrease from $79,165 thousand in 2024, reflecting customer receivables, bad debt, quality claims, and other receivables Net Receivables Composition (as of June 29, 2025, and June 30, 2024, $ Thousands) | Item | June 29, 2025 | June 30, 2024 | | :--- | :--- | :--- | | Customer Accounts Receivable | 76,594 | 80,050 | | Allowance for Doubtful Accounts | (2,451) | (2,713) | | Allowance for Quality Claims | (912) | (745) | | Net Customer Accounts Receivable | 73,231 | 76,592 | | Bank Acceptances | 1,334 | 1,326 | | Other Receivables | 818 | 1,247 | | Total Receivables, Net | 75,383 | 79,165 | Changes in Allowance for Doubtful Accounts and Quality Claims ( $ Thousands) | Item | Allowance for Doubtful Accounts | Allowance for Quality Claims | | :--- | :--- | :--- | | Balance as of July 3, 2022 | (1,498) | (860) | | Balance as of July 2, 2023 | (1,362) | (682) | | Balance as of June 30, 2024 | (2,713) | (745) | | Balance as of June 29, 2025 | (2,451) | (912) | - In fiscal year 2025, the bad debt (benefit) expense changed from $1,571 thousand in fiscal year 2024 to a benefit of $166 thousand, reflecting partial recovery of specific customer balances for which reserves were recorded in fiscal year 2024201426 7. Inventories As of June 29, 2025, UNIFI's total inventory was $122,929 thousand, a decrease from $131,181 thousand in 2024, comprising raw materials, supplies, work-in-process, and finished goods, net of net realizable value adjustments Inventory Composition (as of June 29, 2025, and June 30, 2024, $ Thousands) | Item | June 29, 2025 | June 30, 2024 | | :--- | :--- | :--- | | Raw Materials | 48,752 | 49,391 | | Supplies | 11,779 | 12,160 | | Work-in-Process | 5,246 | 8,994 | | Finished Goods | 61,116 | 64,449 | | Total Inventory | 126,893 | 134,994 | | Net Realizable Value Adjustment | (3,964) | (3,813) | | Total Inventories | 122,929 | 131,181 | - Most of the company's inventory costs are determined using the first-in, first-out (FIFO) method, with some foreign inventories and minor supplies using the average cost method427 8. Other Current Assets As of June 29, 2025, UNIFI's other current assets totaled $9,222 thousand, a decrease from $11,618 thousand in 2024, primarily including prepaid expenses, vendor deposits, VAT receivables, and contract assets Other Current Assets Composition (as of June 29, 2025, and June 30, 2024, $ Thousands) | Item | June 29, 2025 | June 30, 2024 | | :--- | :--- | :--- | | Prepaid Expenses and Other | 3,475 | 2,133 | | Vendor Deposits | 2,775 | 2,633 | | VAT Receivables | 2,365 | 2,510 | | Contract Assets | 607 | 561 | | Assets Held for Sale | — | 3,781 | | Total Other Current Assets | 9,222 | 11,618 | - Assets held for sale (a warehouse in Yadkinville, North Carolina) reported in fiscal year 2024 were sold in fiscal year 2025 for total proceeds of $8,084 thousand428 9. Property, Plant, and Equipment, Net As of June 29, 2025, UNIFI's net property, plant, and equipment was $172,923 thousand, a decrease from $193,723 thousand in 2024, primarily due to the sale of its Madison, North Carolina manufacturing facility Property, Plant, and Equipment, Net Composition (as of June 29, 2025, and June 30, 2024, $ Thousands) | Item | June 29, 2025 | June 30, 2024 | | :--- | :--- | :--- | | Land | 1,039 | 1,897 | | Land Improvements | 10,425 | 16,409 | | Buildings and Improvements | 126,720 | 162,414 | | Finance Lease Assets | 19,756 | 18,030 | | Machinery and Equipment | 593,771 | 650,901 | | Computers, Software, and Office Equipment | 25,400 | 25,464 | | Transportation Equipment | 10,789 | 10,710 | | Construction in Progress | 2,153 | 3,319 | | Total Assets | 790,053 | 889,144 | | Less: Accumulated Depreciation | (608,133) | (688,086) | | Less: Accumulated Amortization – Finance Leases | (8,997) | (7,335) | | Property, Plant, and Equipment, Net | 172,923 | 193,723 | - In fiscal year 2025, UNIFI sold its Madison, North Carolina manufacturing facility and related machinery and equipment, generating net proceeds of $43,322 thousand and recording a gain of $35,807 thousand430 Depreciation and Amortization Expenses and Repair and Maintenance Expenses ($ Thousands) | Expense Type | Fiscal Year 2025 | Fiscal Year 2024 | Fiscal Year 2023 | | :--- | :--- | :--- | :--- | | Depreciation and Amortization Expenses | 24,956 | 26,985 | 25,729 | | Repair and Maintenance Expenses | 20,138 | 19,985 | 17,999 | - In fiscal year 2023, UNIFI recorded an impairment charge of $8,247 thousand for the abandonment of certain specialized machinery and equipment431 10. Other Non-Current Assets As of June 29, 2025, UNIFI's other non-current assets significantly decreased to $4,904 thousand from $12,951 thousand in 2024, primarily due to reclassification of tax recoveries and forfeiture of a deposit Other Non-Current Assets Composition (as of June 29, 2025, and June 30, 2024, $ Thousands) | Item | June 29, 2025 | June 30, 2024 | | :--- | :--- | :--- | | Grantor Trust | 2,310 | 2,942 | | Investments in Affiliates | 1,151 | 1,603 | | Intangible Assets, Net | 573 | 682 | | Tax Recoveries | — | 5,543 | | Other | 870 | 2,181 | | Total Other Non-Current Assets | 4,904 | 12,951 | - In fiscal year 2025, tax recoveries in Brazil were reclassified from other non-current assets to income tax receivable, as the tax benefit is expected to be realized within 12 months446 - In the fourth quarter of fiscal year 2025, UNIFI terminated a contract for future purchases of texturing machinery, resulting in the forfeiture of a $1,448 thousand deposit, recorded as restructuring costs447 - UNIFI dissolved its interest in U.N.F. Industries Ltd. in December 2023, incurring $2,750 thousand in contract termination costs437 Intangible Asset Amortization Expense ($ Thousands) | Expense Type | Fiscal Year 2025 | Fiscal Year 2024 | Fiscal Year 2023 | | :--- | :--- | :--- | :--- | | Customer Lists | 109 | 417 | 957 | | Non-Compete Agreements | — | 108 | 312 | | Trademarks | — | 3 | 21 | | Total Amortization Expense | 109 | 528 | 1,290 | 11. Other Current Liabilities As of June 29, 2025, UNIFI's other current liabilities increased to $18,899 thousand from $17,662 thousand in 2024, primarily comprising wages and benefits, incentive compensation, utilities, deferred revenue, and property taxes Other Current Liabilities Composition (as of June 29, 2025, and June 30, 2024, $ Thousands) | Item | June 29, 2025 | June 30, 2024 | | :--- | :--- | :--- | | Wages and Benefits | 6,815 | 7,140 | | Incentive Compensation | 5,652 | 1,450 | | Utilities | 2,236 | 2,861 | | Deferred Revenue | 1,236 | 1,504 | | Property Taxes and Other | 2,960 | 4,707 | | Total Other Current Liabilities | 18,899 | 17,662 | 12. Long-Term Debt As of June 29, 2025, UNIFI's total debt obligations decreased to $108,008 thousand from $130,299 thousand in 2024, including ABL revolving credit, the 2024 Facility, ABL term loan, and finance lease obligations Debt Obligations Details (as of June 29, 2025, and June 30, 2024, $ Thousands) | Debt Type | Principal Amount as of June 29, 2025 | Principal Amount as of June 30, 2024 | | :--- | :--- | :--- | | ABL Revolving Credit | 11,000 | 19,700 | | 2024 Facility | 22,000 | — | | ABL Term Loan | 67,000 | 101,200 | | Finance Lease Obligations | 8,008 | 9,399 | | Total Debt | 108,008 | 130,299 | - On October 25, 2024, UNIFI entered into a new $25,000 thousand revolving credit facility (2024 Facility), secured by related party collateral, and borrowed $22,000 thousand in fiscal year 2025 to reduce existing ABL revolving credit balances459 - The 2022 ABL Facility matures on October 28, 2027, and requires quarterly principal payments of $2,300 thousand451 - The 2022 ABL Facilit
Unifi(UFI) - 2025 Q4 - Annual Report