Helios Technologies Reports Third Quarter 2025 Financial Results; Return to Year-over-Year Sales Growth of 13% as Demand Continues to Improve

SARASOTA, Fla.--( BUSINESS WIRE)-- Helios Technologies, Inc. (NYSE: HLIO) (“Helios” or the “Company”), a global leader in highly engineered motion control and electronic controls technology, today reported financial results for the third quarter ended September 27, 2025.

“Our improved results in the third quarter are a testament to the Helios team's successful execution of our strategy to create a higher performing business. We had stronger-than-expected sales, continued to improve our margins, and demonstrated financial discipline by strengthening our balance sheet and reducing our cash conversion cycle. We will also have a more meaningful reduction in our debt to end 2025 having monetized our CFP asset,” said Sean Bagan, President and Chief Executive Officer of Helios. “We have returned to growth after nearly three years of sales declines. This upturn demonstrates the strength of our market positions and effectiveness of our customer centric strategy. Our funnel of opportunities continues to build as our refined go-to-market approach gains greater traction and, importantly, we are seeing new customer wins today as a result of innovation and efforts initiated about two years ago. We continue to refine our portfolio and consistently evaluate what the future can hold. We have reorganized our Hydraulics and Electronics segment structures, focused i3PD's efforts more toward the Company's core business, fortified the software sales team, and are redefining how we sell software embedded in our products. We are encouraged by the combination of the internal progress we are making as an organization and the subtle tailwinds we are starting to see in certain markets,” he concluded.

Third Quarter 2025 Consolidated Results

For the Three Months Ended

($ in millions, except per share data)

(Unaudited)

September 27,

2025

September 28,

2024

Change

% Change

Net sales

220.3

194.5

25.8

Gross profit

73.0

60.5

12.5

Gross margin

33.1

31.1

200

bps

Operating income

1.3

22.2

(20.9

)

(94

Operating margin

0.6

11.4

(1080

)

bps

Non-GAAP adjusted operating margin*

16.6

bps

Net income

10.3

11.4

(1.1

)

(10

Diluted EPS

0.31

0.34

(0.03

)

Non-GAAP net income*

24.0

19.7

4.3

Diluted Non-GAAP EPS*

0.72

0.59

0.13

Adjusted EBITDA*

45.1

40.6

4.5

Adjusted EBITDA margin*

20.5

20.9

(40

)

bps

* Adjusted numbers are not measures determined in accordance with generally accepted accounting principles in the United States, commonly known as GAAP. Nevertheless, Helios believes that providing these specific Non-GAAP figures are important for investors and other readers of Helios financial statements, as they are used as analytical indicators by Helios management to better understand operating performance. These Non-GAAP financial measures should be considered in addition to results prepared in accordance with GAAP and should not be considered a substitute for GAAP. Please carefully review the attached Non-GAAP reconciliations to the most directly comparable GAAP measures and the related additional information provided throughout. Because these metrics are Non-GAAP measures and are thus susceptible to varying calculations, these figures, as presented, may not be directly comparable to other similarly titled measures used by other companies.

Sales

Profits and margins

Non-operating items

Net income, diluted earnings per share (“EPS”), diluted Non-GAAP EPS, and adjusted EBITDA margin

Hydraulics Segment Review

(Refer to sales by geographic region and segment data in accompanying tables)

Hydraulics

For the Three Months Ended

($ in millions)

(Unaudited)

September 27,

2025

September 28,

2024

Change

% Change

Net Sales

Americas

53.7

52.1

1.6

EMEA

41.2

36.7

4.5

APAC

46.4

40.6

5.8

Total Segment Sales

141.3

129.4

11.9

Gross Profit

45.9

40.9

5.0

Gross Margin

32.5

31.6

bps

SEA Expenses

21.7

16.7

5.0

Operating Income

24.2

(0.0

)

Operating Margin

17.1

18.7

(160

)

bps

Third Quarter 2025 Hydraulics Segment Review

Electronics Segment Review

(Refer to sales by geographic region and segment data in accompanying tables)

Electronics

For the Three Months Ended

($ in millions)

(Unaudited)

September 27,

2025

September 28,

2024

Change

% Change

Net Sales

Americas

60.5

50.9

9.6

EMEA

9.8

6.5

3.3

APAC

8.7

7.7

1.0

Total Segment Sales

79.0

65.1

13.9

Gross Profit

27.1

19.6

7.5

Gross Margin

34.3

30.1

420

bps

SEA Expenses

40.8

12.8

28.0

219

Operating Income

(13.7

)

6.8

(20.5

)

(301

Operating Margin

-17.5

10.4

(2790

)

bps

Third Quarter 2025 Electronics Segment Review

Cash Flow, Balance Sheet and Financial Flexibility

Tightens/Raises Mid-Point of Full Year 2025; Implies Fourth Quarter 2025 Outlook 1

Mr. Bagan continued, “We have consistently delivered on our expectations for eight consecutive quarters, instilled a discipline of accountability across the organization, and are encouraged with the growing funnel of opportunities our go-to-market strategy is building. We are in a position to exceed the mid-point of the original full year outlook we established at the beginning of this year in spite of the tariff headwinds and divestiture of the CFP business. The team is demonstrating the resiliency and adaptability needed in an ever fluctuating backdrop of geopolitical conditions."

FY24 Actual

Previous FY25 Outlook

(issued 8/4/2025)

New FY25 Outlook

(issued 11/3/25)

4Q25 Outlook

(issued 11/3/25)

Total Net Sales

$805.9 million

$810 to $830 million

$820 to $830 million

$192 to $202 million

Adjusted EBITDA margin

19.2%

18.5% to 19.5%

19.1% to 19.4%

20.0% to 21.0%

Diluted Non-GAAP EPS

$2.10

$2.30 to $2.50

$2.43 to $2.50

$0.67 to $0.74

1 Reference "Third Quarter 2025 Earnings Presentation" Slides for details and assumptions

Webcast

The Company will host a conference call and webcast tomorrow, Tuesday, November 4, 2025, at 9:00 a.m. Eastern Time to review its financial and operating results and discuss its outlook. A question-and-answer session will follow. The conference call can be accessed by calling (201) 689-8573. The audio webcast will be available at www.heliostechnologies.com.

A telephonic replay will be available from approximately 1:00 p.m. ET on the day of the call through Tuesday, November 18, 2025. To listen to the archived call, dial (412) 317-6671 and enter conference ID number 13755687. The webcast replay will be available in the investor relations section of the Company’s website at www.heliostechnologies.com.

About Helios Technologies

Helios Technologies is a global leader in highly engineered motion control and electronic controls technology for diverse end markets, including construction, material handling, agriculture, energy, recreational vehicles, marine and health and wellness. Helios sells its products to customers in over 90 countries around the world. Its strategy for growth is to be the leading provider in niche markets, with premier products and solutions through innovative product development and acquisition. The Company has paid a cash dividend to its shareholders every quarter since becoming a public company in 1997. For more information please visit: www.heliostechnologies.com and follow us on LinkedIn.

FORWARD-LOOKING INFORMATION

This news release contains “forward‐looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934. Forward‐looking statements involve risks and uncertainties, and actual results may differ materially from those expressed or implied by such statements. They include statements regarding current expectations, estimates, forecasts, projections, our beliefs, and assumptions made by Helios Technologies, Inc. (“Helios,” the “Company,” "we," "us," or "our"), its directors or its officers about the Company and the industry in which it operates, and assumptions made by management, and include among other items, (i) the Company’s strategies regarding growth, and improving margins, including its intention to develop new products and undertake acquisitions and divestitures; (ii) the effectiveness of creating the Centers of Excellence; (iii) our financial plans; (iv) trends affecting the Company’s financial condition or results of operations; (v) the Company’s ability to continue to control costs and to meet its liquidity and other financing needs; (vi) the Company’s ability to declare and pay dividends; (vii) the Company’s ability to respond to changes in customer demand domestically and internationally, including as a result of the cyclical nature of our business; and (viii) the Company's ability to mitigate the impacts of changes in trade policy on our business. In addition, we may make other written or oral statements, which constitute forward-looking statements, from time to time. Words such as “may,” “expects,” “projects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” variations of such words, and similar expressions are intended to identify such forward-looking statements. Similarly, statements that describe our future plans, objectives or goals also are forward-looking statements. These statements are not guarantees of future performance and are subject to a number of risks and uncertainties. Our actual results may differ materially from what is expressed or forecasted in such forward-looking statements, and undue reliance should not be placed on such statements. All forward-looking statements are made as of the date hereof, and we undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

Factors that could cause actual results to differ materially from what is expressed or forecasted in such forward‐looking statements include, but are not limited to, (i) the Company’s ability to respond to global economic trends and changes in customer demand domestically and internationally, including as a result of standardization and the cyclical nature of our business, which can adversely affect the demand for capital goods; (ii) supply chain disruption and the potential inability to procure goods; (iii) conditions in the capital markets, including the interest rate environment and the continued availability of capital on terms acceptable to us, or at all; (iv) global and regional economic and political conditions, including trade policy, tariffs and other trade barriers, inflation, exchange rates, changes in the cost or availability of energy, transportation, the availability of other necessary supplies and services and recession; (v) changes in the competitive marketplace that could affect the Company’s revenue and/or cost bases, such as increased competition, lack of qualified engineering, marketing, management or other personnel, and increased labor and raw materials costs; (vi) risks related to health epidemics, pandemics and similar outbreaks, which may among other things, adversely affect our supply chain, material costs, and work force and may have material adverse effects on our business, financial position, results of operations and/or cash flows; (vii) risks related to our international operations, including potential impacts from the ongoing geopolitical conflicts in Ukraine and the Middle East; (viii) risks relating to our recent management transition; (ix) new product introductions, product sales mix and the geographic mix of sales nationally and internationally; and (x) stakeholders, including regulators, views regarding our environmental, social and governance goals and initiatives, and the impact of factors outside of our control on such goals and initiatives. Further information relating to additional factors that could cause actual results to differ from those anticipated is included but not limited to information under the heading Item 1. “Business” and Item 1A. “Risk Factors” in the Company’s Form 10-K for the year ended December 28, 2024 filed with the Securities and Exchange Commission (SEC) on February 25, 2025 as well as any subsequent filings with the SEC.

Helios has presented non-GAAP measures including adjusted operating income, adjusted operating margin, EBITDA, EBITDA margin, adjusted EBITDA, adjusted EBITDA margin, net debt-to-adjusted EBITDA, adjusted net income, and adjusted net income per diluted share and sales in constant currency. Helios believes that providing these specific Non-GAAP figures are important for investors and other readers of Helios financial statements, as they are used as analytical indicators by Helios management to better understand operating performance. The determination of the amounts that are excluded from these Non-GAAP measures is a matter of management judgment and depends upon, among other factors, the nature of the underlying expense or income recognized in a given period. You should not consider the inclusion of this additional information in isolation or as a substitute for results prepared in accordance with GAAP. Please carefully review the Non-GAAP reconciliations to the most directly comparable GAAP measures and the related additional information provided throughout. Because these metrics are Non-GAAP measures and are thus susceptible to varying calculations, these figures, as presented, may not be directly comparable to other similarly titled measures used by other companies.

This news release also presents forward-looking statements regarding Non-GAAP measures, including adjusted EBITDA, adjusted EBITDA margin and adjusted net income per diluted share. The Company is unable to present a quantitative reconciliation of these forward-looking Non-GAAP financial measures to their most directly comparable forward-looking GAAP financial measures because such information is not available, and management cannot reliably predict the necessary components of such GAAP measures without unreasonable effort or expense. In addition, the Company believes that such reconciliations would imply a degree of precision that would be confusing or misleading to investors. The unavailable information could have a significant impact on the Company’s 2025 financial results. These Non-GAAP financial measures are preliminary estimates and are subject to risks and uncertainties, including, among others, changes in connection with quarter-end and year-end adjustments. Any variation between the Company’s actual results and preliminary financial data set forth above may be material.

Financial Tables Follow:

HELIOS TECHNOLOGIES

CONSOLIDATED STATEMENTS OF OPERATIONS

(In millions, except per share data)

(Unaudited)

For the Three Months Ended

For the Nine Months Ended

September 27,

2025

September 28,

2024

% Change

September 27,

2025

September 28,

2024

% Change

Net sales

220.3

194.5

628.2

626.4

Cost of sales

147.3

134.0

427.9

428.1

Gross profit

73.0

60.5

200.3

198.3

Gross margin

33.1

31.1

31.9

31.7

Selling, engineering and administrative expense

38.2

30.4

110.0

106.2

Amortization of intangible assets

7.6

7.9

24.1

23.6

Goodwill impairment

25.9

Operating income

1.3

22.2

(94

40.3

68.5

(41

Operating margin

0.6

11.4

6.4

10.9

Interest expense, net

6.9

9.0

(23

21.3

25.7

(17

Foreign currency transaction loss, net

0.6

0.1

500

1.2

0.5

140

Other non-operating (income) expense, net

(19.0

)

(0.2

)

9,400

(19.4

)

(0.6

)

3,133

Income before income taxes

12.8

13.3

37.2

42.9

(13

Income tax provision

2.5

1.9

8.3

8.7

Net income

10.3

11.4

(10

28.9

34.2

(15

Net income per share:

Basic

0.31

0.34

0.87

1.03

(16

Diluted

0.31

0.34

0.87

1.03

(16

Weighted average shares outstanding:

Basic

33.1

33.2

Diluted

33.3

33.2

33.3

33.2

Dividends declared per share

0.09

0.27

HELIOS TECHNOLOGIES

CONSOLIDATED BALANCE SHEETS

(In millions, except per share data)

September 27,

2025

December 28,

2024

(Unaudited)

Assets

Current assets:

Cash and cash equivalents

54.9

44.1

Accounts receivable, net of allowance for credit losses of $2.3 and $2.4

133.7

104.6

Inventories, net

185.4

190.1

Income taxes receivable

12.2

15.1

Other current assets

24.4

30.3

Other Receivable - Sale of Business

38.4

Total current assets

449.0

384.2

Property, plant and equipment, net

207.6

216.4

Deferred income taxes

2.3

2.1

Goodwill

497.6

498.9

Other intangible assets, net

377.3

384.0

Other assets

22.0

19.8

Total assets

1,555.8

1,505.4

Liabilities and shareholders’ equity

Current liabilities:

Accounts payable

73.9

56.7

Accrued compensation and benefits

22.3

24.6

Other accrued expenses and current liabilities

26.2

25.8

Current portion of long-term non-revolving debt, net

18.5

16.0

Dividends payable

3.0

Income taxes payable

9.3

12.5

Total current liabilities

153.2

138.6

Revolving lines of credit

138.8

147.3

Long-term non-revolving debt, net

261.8

283.2

Deferred income taxes

59.0

41.1

Other noncurrent liabilities

25.1

30.8

Total liabilities

637.9

641.0

Commitments and contingencies

Shareholders’ equity:

Preferred stock, par value $0.001, 2.0 shares authorized,

no shares issued or outstanding

Common stock, par value $0.001, 100.0 shares authorized,

33.4 and 33.3 shares issued and outstanding

Capital in excess of par value

441.9

437.4

Treasury stock, at cost, 0.3 and 0 shares, respectively

(9.2

)

Accumulated other comprehensive loss

(37.4

)

(75.6

)

Retained earnings

522.6

502.6

Total shareholders’ equity

917.9

864.4

Total liabilities and shareholders’ equity

1,555.8

1,505.4

HELIOS TECHNOLOGIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In millions)

For the Nine Months Ended

September 27,

2025

September 28,

2024

Cash flows from operating activities:

Net income

28.9

34.2

Adjustments to reconcile net income to

net cash provided by operating activities:

Depreciation and amortization

47.8

Loss on disposal of assets

0.1

(Gain) on sale of business, Net of CTA loss

(18.8

)

Goodwill Impairment

25.9

Stock-based compensation expense

3.8

2.5

Amortization of debt issuance costs

0.5

0.9

Benefit for deferred income taxes

0.5

(2.1

)

Forward contract losses, net

0.5

Other, net

0.6

1.1

(Increase) decrease in, net of acquisitions:

Accounts receivable

(35.4

)

(5.5

)

Inventories

1.0

16.2

Income taxes receivable

3.5

0.7

Other current assets

1.7

(5.0

)

Other assets

3.7

4.8

Increase (decrease) in, net of acquisitions:

Accounts payable

20.3

(13.4

)

Accrued expenses and other liabilities

3.8

5.3

Income taxes payable

(4.3

)

2.3

Other noncurrent liabilities

(2.8

)

(3.4

)

Net cash provided by operating activities

81.3

86.4

Cash flows from investing activities:

Divestiture of Business, net of cash used

(1.6

)

Capital expenditures

(18.2

)

(19.6

)

Proceeds from dispositions of property, plant and equipment

0.2

0.1

Software development costs

(2.0

)

(2.6

)

Net cash used in investing activities

(21.6

)

(22.1

)

Cash flows from financing activities:

Borrowings on revolving credit facilities

41.1

38.1

Repayment of borrowings on revolving credit facilities

(61.4

)

(64.7

)

Borrowings on long-term non-revolving debt

126.8

Repayment of borrowings on long-term non-revolving debt

(11.9

)

(142.2

)

Proceeds from stock issued

1.4

1.6

Treasury stock purchases

(9.2

)

Dividends to shareholders

(9.0

)

(8.9

)

Payment of employee tax withholding on equity award vestings

(0.7

)

(2.5

)

Proceeds received upon termination of Cash Flow hedge instruments

7.1

Other financing activities

(1.4

)

(4.7

)

Net cash used in financing activities

(51.1

)

(49.4

)

Effect of exchange rate changes on cash and cash equivalents

2.2

(0.6

)

Net increase in cash and cash equivalents

10.8

14.3

Cash and cash equivalents, beginning of period

44.1

32.4

Cash and cash equivalents, end of period

54.9

46.7

HELIOS TECHNOLOGIES

SEGMENT DATA

(In millions)

(Unaudited)

For the Three Months Ended

For the Nine Months Ended

September 27,

2025

September 28,

2024

September 27,

2025

September 28,

2024

Net Sales:

Hydraulics

141.3

129.4

408.6

417.5

Electronics

79.0

65.1

219.6

208.9

Consolidated

220.3

194.5

628.2

626.4

Gross profit and margin:

Hydraulics

45.9

40.9

129.8

130.3

32.5

31.6

31.8

31.2

Electronics

27.1

19.6

70.5

68.0

34.3

30.1

32.1

32.6

Consolidated

73.0

60.5

200.3

198.3

33.1

31.1

31.9

31.7

Operating income (loss) and margin:

Hydraulics

24.2

66.7

69.9

17.2

18.7

16.3

16.7

Electronics

(13.7

)

6.8

0.2

24.2

-17.5

10.4

0.1

11.6

Corporate and other

(9.2

)

(8.8

)

(26.6

)

(25.6

)

Consolidated

1.3

22.2

40.3

68.5

0.6

11.4

6.4

10.9

HELIOS TECHNOLOGIES

Net Sales by Geographic Region and Segment

(In millions)

(Unaudited)

2025

% Change y/y

YTD 2025

% Change y/y

Americas:

Hydraulics

49.9

(11%)

54.2

(9%)

53.7

157.9

(6%)

Electronics

56.7

(2%)

53.7

(7%)

60.5

19%

170.9

Consol. Americas

106.6

(6%)

107.9

(8%)

114.2

11%

328.8

(2%)

% of total

EMEA:

Hydraulics

37.9

(17%)

46.1

41.2

12%

125.1

Electronics

6.2

(5%)

8.5

(6%)

9.8

49%

24.4

11%

Consol. EMEA

44.1

(15%)

54.6

51.0

18%

149.5

% of total

APAC:

Hydraulics

38.6

(6%)

40.6

(6%)

46.4

14%

125.6

Electronics

6.2

24%

9.4

27%

8.7

12%

24.3

21%

Consol. APAC

44.8

(3%)

50.0

(2%)

55.1

14%

149.9

% of total

Total

195.5

(8%)

212.5

(3%)

220.3

13%

628.2

2024

% Change

y/y

% Change

y/y

% Change

y/y

% Change

y/y

2024

% Change

y/y

Americas:

Hydraulics

55.8

(4%)

59.5

(2%)

52.1

(6%)

51.7

(14%)

219.1

(7%)

Electronics

58.1

57.8

(9%)

50.9

(14%)

49.1

215.9

(5%)

Consol. Americas

113.9

117.3

(5%)

103.0

(11%)

100.8

(8%)

435.0

(6%)

% of total

EMEA:

Hydraulics

45.5

(8%)

42.8

(17%)

36.7

(5%)

32.1

(16%)

157.1

(12%)

Electronics

6.5

(3%)

9.0

29%

6.5

14%

4.7

(19%)

26.7

Consol. EMEA

52.0

(7%)

51.8

(11%)

43.2

(3%)

36.8

(16%)

183.8

(9%)

% of total

APAC:

Hydraulics

41.1

43.4

40.6

35.9

161.0

Electronics

5.0

35%

7.4

48%

7.7

79%

6.0

18%

26.1

44%

Consol. APAC

46.1

50.8

12%

48.3

16%

41.9

187.1

% of total

Total

212.0

(1%)

219.9

(3%)

194.5

(3%)

179.5

(7%)

805.9

(4%)

HELIOS TECHNOLOGIES

Non-GAAP Adjusted Operating Income & Non-GAAP Adjusted Operating Margin RECONCILIATION

(In millions)

(Unaudited)

For the Three Months Ended

For the Nine Months Ended

Twelve Months Ended

September 27,

2025

Margin

September 28,

2024

Margin

September 27,

2025

Margin

September 28,

2024

Margin

September 27,

2025

Margin

GAAP operating income

1.3

0.6

22.2

11.4

40.3

6.4

68.5

10.9

53.6

6.6

Acquisition-related amortization of intangible assets

7.6

3.5

7.9

4.1

24.1

3.8

23.6

3.8

32.0

4.0

Acquisition, divestiture, and financing-related expenses

1.4

0.7

0.1

1.7

0.3

0.7

0.1

1.7

0.2

Restructuring charges

0.1

1.2

0.6

1.3

0.2

4.4

0.7

2.2

0.3

Officer transition costs

0.2

0.1

0.8

0.4

0.7

0.1

1.3

0.2

1.3

0.2

Acquisition integration costs

0.0

0.3

0.0

Goodwill Impairment

25.9

11.8

0.0

25.9

4.1

0.0

25.9

3.2

Other

0.0

0.6

0.1

0.2

0.0

1.7

0.2

Non-GAAP adjusted operating income

36.6

16.6

32.2

16.6

94.7

15.1

99.0

15.8

118.5

14.7

GAAP operating margin

0.6

11.4

6.4

10.9

6.6

Non-GAAP adjusted operating margin

16.6

15.1

15.8

14.7

Net sales

220.3

194.5

628.2

626.4

807.7

Non-GAAP Adjusted EBITDA & Non-GAAP Adjusted EBITDA Margin RECONCILIATION

(In millions)

(Unaudited)

For the Three Months Ended

For the Nine Months Ended

Twelve Months Ended

September 27,

2025

Margin

September 28,

2024

Margin

September 27,

2025

Margin

September 28,

2024

Margin

September 27,

2025

Margin

Net income

10.3

4.7

11.4

5.9

28.9

4.6

34.2

5.5

33.7

4.2

Interest expense, net

6.9

3.1

9.0

4.6

21.3

3.4

25.7

4.1

29.4

3.6

Income tax provision

2.5

1.1

1.9

1.0

8.3

1.3

8.7

1.4

11.1

1.4

Depreciation and amortization

15.9

7.2

16.1

8.3

47.8

7.6

47.8

7.6

63.8

7.9

EBITDA

35.6

16.2

38.4

19.7

106.3

16.9

116.4

18.6

137.9

17.1

Acquisition, divestiture, and financing-related expenses

1.4

0.6

0.1

1.7

0.3

0.7

0.1

1.7

0.2

Restructuring charges

0.1

1.2

0.6

1.3

0.2

4.4

0.7

2.2

0.3

Officer transition costs

0.2

0.1

0.8

0.4

0.7

0.1

1.3

0.2

1.3

0.2

Goodwill Impairment

25.9

11.8

0.0

25.9

4.1

0.0

25.9

3.2

(Gain) on sale of business - Net of CTA loss

(18.8

)

-8.5

0.0

(18.8

)

-3.0

0.0

(18.8

)

-2.3

Acquisition integration costs

0.0

0.3

0.0

Forward contract losses

0.5

0.2

0.0

0.5

0.1

0.0

0.5

0.1

Change in fair value of contingent consideration

0.0

0.4

0.0

Other

0.0

0.1

0.6

0.1

0.2

0.0

(1.7

)

-0.2

Adjusted EBITDA

45.1

20.5

40.6

20.9

118.4

18.8

123.3

19.7

149.6

18.5

GAAP net income margin

4.7

5.9

4.6

5.5

4.2

EBITDA margin

16.2

19.7

16.9

18.6

17.1

Adjusted EBITDA margin

20.5

20.9

18.8

19.7

18.5

Net sales

220.3

194.5

628.2

626.4

807.7

HELIOS TECHNOLOGIES

Non-GAAP Adjusted Net Income & Non-GAAP Adjusted Net Income Per Diluted Share RECONCILIATION

(In millions)

(Unaudited)

For the Three Months Ended

For the Nine Months Ended

September 27,

2025

Per Diluted Share

September 28,

2024

Per Diluted Share

September 27,

2025

Per Diluted Share*

September 28,

2024

Per Diluted Share

GAAP net income

10.3

0.31

11.4

0.34

28.9

0.87

34.2

1.03

Amortization of intangible assets

8.3

0.25

8.4

0.25

25.8

0.77

24.7

0.74

Acquisition, divestiture, and financing-related expenses

1.4

0.04

0.1

1.7

0.05

0.7

0.02

Restructuring charges

0.1

1.2

0.04

1.4

0.04

4.4

0.13

Officer transition costs

0.2

0.01

0.8

0.02

0.7

0.02

1.3

0.04

Acquisition integration costs

0.3

0.01

Goodwill Impairment

25.9

0.78

25.9

0.78

(Gain) on sale of business, Net of CTA loss

(18.8

)

(0.56

)

(18.8

)

(0.56

)

Forward contract losses

0.5

0.01

0.5

0.01

Other

0.1

0.6

0.02

0.2

0.01

Tax effect of above

(3.9

)

(0.12

)

(2.3

)

(0.07

)

(8.3

)

(0.25

)

(7.0

)

(0.21

)

Non-GAAP Adjusted net income

24.0

0.72

19.7

0.59

58.4

1.75

58.8

1.77

GAAP net income per diluted share

0.31

0.34

0.87

1.03

Non-GAAP Adjusted net income per diluted share

0.72

0.59

1.75

1.77

*General note: items may not sum or recalculate due to rounding

HELIOS TECHNOLOGIES

Non-GAAP Net Sales Growth RECONCILIATION

(In millions)

(Unaudited)

For the Three Months Ended

For the Nine Months Ended

Hydraulics

Electronics

Consolidated

Hydraulics

Electronics

Consolidated

Q3 2025 Net Sales

141.3

79.0

220.3

408.6

219.6

628.2

Impact of foreign currency translation *

(1.8

)

(1.8

)

(1.1

)

(1.1

)

Organic sales in constant currency

139.5

79.0

218.5

407.5

219.6

627.1

Q3 2024 Net Sales

129.4

65.1

194.5

417.5

208.9

626.4

Net sales growth

-2

Net sales growth in constant currency

-2

Organic net sales growth in constant currency

-2

(*) The impact from foreign currency translation is calculated by translating current period activity at average prior period exchange rates.

Net Debt-to-Adjusted EBITDA RECONCILIATION

(In millions)

(Unaudited)

As of

September 27,

2025

Current portion of long-term non-revolving debt, net

18.5

Revolving lines of credit

138.8

Long-term non-revolving debt, net

261.8

Total debt

419.1

Less: Cash and cash equivalents

54.9

Net debt

364.2

TTM adjusted EBITDA

149.6

Ratio of net debt to TTM adjusted EBITDA

2.4

Non-GAAP Financial Measures and Non-GAAP Forward-looking Financial Measures:

Adjusted operating income, adjusted operating margin, EBITDA, EBITDA margin, adjusted EBITDA, adjusted EBITDA margin, net debt-to-adjusted EBITDA, adjusted net income, adjusted net income per diluted share and sales in constant currency are not measures determined in accordance with generally accepted accounting principles in the United States, commonly known as GAAP. Nevertheless, Helios believes that providing these specific Non-GAAP figures are important for investors and other readers of Helios financial statements, as they are used as analytical indicators by Helios management to better understand operating performance. These Non-GAAP financial measures should be considered in addition to results prepared in accordance with GAAP and should not be considered a substitute for GAAP. Please carefully review the attached Non-GAAP reconciliations to the most directly comparable GAAP measures and the related additional information provided throughout. Because these metrics are Non-GAAP measures and are thus susceptible to varying calculations, these figures, as presented, may not be directly comparable to other similarly titled measures used by other companies. The Company does not provide a reconciliation of forward-looking Non-GAAP financial measures, such as adjusted EBITDA, adjusted EBITDA margin, adjusted net income and adjusted net income per diluted share disclosed above in our 2025 Outlook, to their comparable GAAP financial measures because it could not do so without unreasonable effort due to the unavailability of the information needed to calculate reconciling items and due to the variability, complexity and limited visibility of the adjusting items that would be excluded from the Non-GAAP financial measures in future periods.