Core Insights - Compass Diversified (CODI) has reported its consolidated operating results for the three and nine months ended September 30, 2025, and confirmed compliance with SEC filing requirements for 2025 [1][2]. Financial Performance - For Q3 2025, CODI reported net sales of $472.6 million, an increase from $456.6 million in Q3 2024, representing a growth of approximately 3% [14]. - The gross profit for Q3 2025 was $207.7 million, compared to $196.6 million in Q3 2024, indicating a year-over-year increase of about 5.7% [14]. - Operating income for Q3 2025 was a loss of $11.1 million, down from an operating income of $8.3 million in Q3 2024 [15]. - The net loss attributable to Holdings for Q3 2025 was $74.0 million, compared to a net loss of $36.0 million in Q3 2024 [16]. Adjusted Financial Metrics - The company expects full-year 2025 subsidiary Adjusted EBITDA to be between $335 million and $355 million, excluding Lugano Holding, Inc. [3]. - Adjusted EBITDA for Q3 2025 was reported at $30.3 million, down from $48.6 million in Q3 2024 [17]. - For the nine months ended September 30, 2025, Adjusted EBITDA totaled $122.4 million, compared to $137.0 million for the same period in 2024 [21]. Balance Sheet Highlights - As of September 30, 2025, total assets were $3.25 billion, a decrease from $3.30 billion as of December 31, 2024 [12]. - Total liabilities increased to $2.93 billion from $2.77 billion at the end of 2024 [12]. - Stockholders' equity attributable to Holdings decreased to $519.2 million from $678.6 million at the end of 2024 [12]. Management Commentary - The CEO expressed confidence in the company's compliance with SEC requirements and highlighted the solid performance of its operating subsidiaries, excluding Lugano, amidst a challenging macroeconomic environment [2]. - The focus remains on strategic priorities aimed at delivering long-term shareholder value through performance enhancement and growth investments [2].

Core Insights - Compass Diversified (CODI) reported consolidated operating results for the three months ended March 31, 2025, and plans to file its Quarterly Reports for the second and third quarters soon [1] - The CEO emphasized the company's focus on financial flexibility and operational excellence across its subsidiaries, highlighting strong cash flow generation despite a challenging environment [2] Financial Performance - For Q1 2025, CODI's net sales reached $453.775 million, an increase from $410.826 million in Q1 2024, representing a growth of approximately 10.5% [11][16] - The gross profit for the same period was $196.032 million, compared to $174.952 million in Q1 2024, indicating a gross margin improvement [11] - The company reported a net loss of $49.710 million for Q1 2025, an improvement from a net loss of $85.269 million in Q1 2024 [11][12] Adjusted Financial Metrics - CODI reiterated its expectation for full-year 2025 subsidiary Adjusted EBITDA to be between $330 million and $360 million, excluding Lugano [3] - The Adjusted EBITDA for Q1 2025 was reported at $45.256 million, up from $40.509 million in Q1 2024 [13] Subsidiary Performance - Key subsidiaries showed varied performance, with 5.11 generating $129.370 million in sales, and BOA achieving $48.877 million, both reflecting year-over-year growth [18] - The Honey Pot Co. contributed pro forma net sales of $36.191 million for Q1 2025, compared to $30.836 million in Q1 2024 [18][19] Strategic Focus - The company is prioritizing cash generation and leveraging that cash to reduce debt while supporting growth initiatives across its subsidiaries [2] - CODI is encouraged by strong booking activity in its subsidiaries, particularly at Arnold and PrimaLoft, and is focused on disciplined working capital management [2]