Cadre (US:CDRE)2025-08-06 14:00Financial Performance - Q2 2025 net sales increased by 9% year-over-year to $157.1 million[33], compared to $144.3 million in Q2 2024[33] - Gross margin improved by 30 bps year-over-year to 40.9% in Q2 2025[33], from 40.6% in Q2 2024[33] - Net income was $12.2 million, or $0.30 per diluted share in Q2 2025[33], compared to $12.6 million, or $0.31 per diluted share in Q2 2024[33] - Adjusted EBITDA for Q2 2025 was $27.0 million[33], with an adjusted EBITDA margin of 17.2%[33] - For the first six months of 2025, net sales reached $287.2 million[47], a slight increase from $282.2 million in the same period of 2024[47] - Net income for the first six months of 2025 was $21.459 million[47], compared to $19.495 million for the first six months of 2024[47] Acquisition and Expansion - Completed the acquisition of Carr's Engineering division in April 2025 for £75 million[28] - Carr's Engineering division had £51 million in revenue for FY 2024[28] - The acquisition expands the nuclear TAM through entry into international channel, and nuclear medicine and nuclear energy markets[28] Outlook and Guidance - The company expects net sales between $624 million and $630 million for fiscal year 2025[35,42] - Adjusted EBITDA is projected to be between $112 million and $116 million for fiscal year 2025[37,42]