Form 8-K

8-K — DMC Global Inc.

Accession: 0000034067-26-000047

Filed: 2026-07-29

Period: 2026-07-29

CIK: 0000034067

SIC: 3390 (MISCELLANEOUS PRIMARY METAL PRODUCTS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — boom-20260729.htm (Primary)

EX-99.1 (boom-exx991_2026q2.htm)

GRAPHIC (imagea.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: boom-20260729.htm · Sequence: 1

boom-20260729

0000034067FALSE00000340672026-07-292026-07-290000034067us-gaap:CommonStockMember2026-07-292026-07-290000034067boom:StockPurchaseRightsMember2026-07-292026-07-29

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of Earliest Event Reported): July 29, 2026

DMC Global Inc.

(Exact Name of Registrant as Specified in its Charter)

Delaware 001-14775 84-0608431

(State or Other Jurisdiction of

Incorporation) (Commission File Number) (I.R.S. Employer Identification No.)

11800 Ridge Parkway, Suite 300, Broomfield, Colorado 80021

(Address of Principal Executive Offices, Including Zip Code)

(303) 665-5700

(Registrant’s Telephone Number, Including Area Code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol Name of exchange on which registered

Common Stock, $0.05 Par Value BOOM The Nasdaq Global Select Market

Stock Purchase Rights The Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 2.02 Results of Operations and Financial Condition

On July 29, 2026, DMC Global Inc., a Delaware corporation (the “Company”), issued a press release announcing its financial results for the quarter ended June 30, 2026. A copy of the Company’s press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

The information provided in Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1 hereto, is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and shall not be deemed incorporated by reference in any filings under the Securities Act of 1933, as amended, unless specifically stated so therein.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number Description

99.1

Press Release, dated July 29, 2026.

104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

DMC Global Inc.

Dated: July 29, 2026 By: /s/ Eric V. Walter

Name: Eric V. Walter

Title: Chief Financial Officer

EX-99.1

Filename: boom-exx991_2026q2.htm · Sequence: 2

Document

EXHIBIT 99.1

FOR IMMEDIATE RELEASE: CONTACT:

Geoff High, Vice President of Investor Relations

303-604-3924

DMC GLOBAL REPORTS SECOND QUARTER FINANCIAL RESULTS

•Second quarter sales were $157.0 million

•Net income attributable to DMC was $0.5 million, or $0.10 per diluted share

•Adjusted EBITDA attributable to DMC* was $10.7 million

BROOMFIELD, Colo. – July 29, 2026 - DMC Global Inc. (Nasdaq: BOOM) today reported financial results for its second quarter ended June 30, 2026.

Consolidated sales and adjusted EBITDA attributable to DMC were at or above the high end of management's forecasts, driven by meaningfully improved results at Arcadia Products, DMC’s building products business, which delivered its strongest sales performance since the second quarter of 2024. Second quarter consolidated sales were $157.0 million, level with the 2025 second quarter and up 16% sequentially. Adjusted EBITDA attributable to DMC was $10.7 million, down 21% versus the 2025 second quarter, and up 174% sequentially. The year-over-year decline in adjusted EBITDA was driven by unfavorable mix, higher input costs and price pressure at DynaEnergetics, DMC’s energy products business.

The commercial construction market, particularly for larger, longer-term project business, remains highly challenged as reflected by the American Institute of Architects’ Architectural Billings Index, which has gone a record 41 consecutive months without a majority of firms reporting billings growth. Despite this, Arcadia reported second quarter sales of $67.4 million, up 9% versus the year-ago second quarter, and up 19% sequentially. Adjusted EBITDA attributable to DMC was $5.5 million, up 36% year over year and up 135% sequentially due to higher sales and improved fixed cost absorption.

Arcadia’s improved performance was driven by successful efforts to strengthen its short-cycle commercial product line through improved product availability and service across its network of regional service centers. The high-end residential windows and door line also reported improved year-over-year performance. Meanwhile, Arcadia’s sales also benefitted from higher average aluminum prices, which were up 79% year over year and 11% sequentially.

DynaEnergetics reported second quarter sales of $67.4 million, flat versus the year-ago second quarter, and up 13% sequentially. Adjusted EBITDA, which included $1.5 million in tariff refunds, was $5.6 million, down 37% from the 2025 second quarter and up 105% from the prior quarter. The sequential increase was driven by sales growth and tariff refunds, while the year-over-year decline resulted from previously mentioned unfavorable mix, input-cost and price factors.

Demand at DynaEnergetics remains steady across its North American and international markets. DynaEnergetics also recently completed the first customer deliveries of a new perforating system purpose-built for Enhanced Geothermal Systems (EGS) applications, which often involve large wellbores and extreme downhole conditions.

At NobelClad, DMC’s composite metals business, second quarter sales were $22.2 million, down 17% versus last year’s second quarter, but up 15% sequentially. Second quarter sales were negatively impacted by customer delays in taking delivery of certain clad-plate orders. Adjusted EBITDA was $3.0 million, down 31% year over year, but up 60% versus the prior quarter. NobelClad ended the second quarter with an order backlog of $63.5 million

versus $70.3 million at the end of the 2026 first quarter. Shipments from NobelClad’s backlog are expected to improve during the third quarter as customer delays in delivery acceptance abate.

“Although each of our businesses continues to be impacted by difficult end market conditions, we benefitted from specific improvement initiatives discussed in prior quarters, most notably at Arcadia,” said James O’Leary, president and CEO. Looking ahead, both DynaEnergetics and NobelClad should benefit as market headwinds begin to ease. Finally, I would like to thank our associates for their continued hard work and focus during the most recent quarter.”

Guidance

Third quarter sales are expected to be in a range of $158 million to $168 million, with adjusted EBITDA attributable to DMC anticipated in a range of $10 million to $13 million. The expected sequential improvements reflect steady performance at Arcadia, expected increases in well completion activity in DynaEnergetics’ oil and gas and EGS markets, and increased project shipments at NobelClad. DMC’s third quarter guidance does not contemplate increased disruptions in international supply chains due to ongoing hostilities in the Middle East, which could impact both DynaEnergetics and NobelClad, continued volatility in aluminum input costs at Arcadia, or generally weaker end market conditions.

This guidance remains highly dependent on macroeconomic conditions, particularly within DMC’s core energy and construction markets, and may change—either positively or negatively—as these volatile factors evolve throughout 2026.

Summary Second Quarter Results

Three months ended Change

Jun 30, 2026 Mar 31, 2026 Jun 30, 2025 Sequential Year-on-year

Net sales $ 156,953 $ 135,595 $ 155,487 16 % 1 %

Gross profit percentage 21.9 % 18.8 % 23.6 %

SG&A $ 24,541 $ 24,604 $ 26,147 — % (6) %

Net income (loss) $ 2,017 $ (6,810) $ 321 130 % 528 %

Net income (loss) attributable to DMC $ 507 $ (6,065) $ 116 108 % 337 %

Diluted net income (loss) per share attributable to DMC $ 0.10 $ (0.34) $ (0.24) 129 % 142 %

Adjusted net income (loss) attributable to DMC $ 727 $ (5,697) $ 2,473 113 % (71) %

Adjusted diluted net income (loss) per share $ 0.04 $ (0.28) $ 0.12 114 % (67) %

Adjusted EBITDA attributable to DMC $ 10,673 $ 3,895 $ 13,538 174 % (21) %

Adjusted EBITDA before NCI allocation $ 14,333 $ 5,456 $ 16,228 163 % (12) %

Adjusted EBITDA before NCI allocation margin 9.1 % 4.0 % 10.4 %

Arcadia Products

Three months ended Change

Jun 30, 2026 Mar 31, 2026 Jun 30, 2025 Sequential Year-on-year

Net sales $ 67,419 $ 56,706 $ 61,980 19 % 9 %

Gross profit percentage 27.7 % 24.1 % 26.2 %

Adjusted EBITDA attributable to DMC $ 5,490 $ 2,341 $ 4,035 135 % 36 %

Adjusted EBITDA before NCI allocation $ 9,150 $ 3,902 $ 6,725 134 % 36 %

Adjusted EBITDA before NCI allocation margin 13.6 % 6.9 % 10.9 %

DynaEnergetics

Three months ended Change

Jun 30, 2026 Mar 31, 2026 Jun 30, 2025 Sequential Year-on-year

Net sales $ 67,383 $ 59,547 $ 66,862 13 % 1 %

Gross profit percentage 15.9 % 12.6 % 20.9 %

Adjusted EBITDA $ 5,638 $ 2,746 $ 8,979 105 % (37) %

Adjusted EBITDA margin 8.4 % 4.6 % 13.4 %

NobelClad

Three months ended Change

Jun 30, 2026 Mar 31, 2026 Jun 30, 2025 Sequential Year-on-year

Net sales $ 22,151 $ 19,342 $ 26,645 15 % (17) %

Gross profit percentage 22.6 % 22.6 % 24.7 %

Adjusted EBITDA $ 3,032 $ 1,893 $ 4,399 60 % (31) %

Adjusted EBITDA margin 13.7 % 9.8 % 16.5 %

•NobelClad's rolling 12-month bookings were $106.9 million, and the 12-month book-to-bill ratio was 1.33.

Conference call information

The conference call will begin today at 5 p.m. Eastern (3 p.m. Mountain) and will be accessible by dialing 877-407-5783 (or +1 201-689-8782 for international callers).

Investors are invited to listen to the webcast live via the Internet at:

https://event.choruscall.com/mediaframe/webcast.html?webcastid=JzbhrP5f

Webcast participants should access the website at least 15 minutes early to register and download any necessary audio software. The webcast also will be available on the Investor page of DMC’s website, located at: ir.dmcglobal.com. A replay of the webcast will be available for six months.

*Use of Non-GAAP Financial Measures

In addition to disclosing financial results that are determined in accordance with generally accepted accounting principles in the United States (GAAP), DMC also discloses certain non-GAAP financial measures that we use in operational and financial decision making. Non-GAAP financial measures include the following:

•EBITDA: defined as net income (loss) plus net interest, taxes, depreciation and amortization.

•Adjusted EBITDA: excludes from EBITDA stock-based compensation, restructuring expenses and asset impairment charges (if applicable) and, when appropriate, nonrecurring items that management does not utilize in assessing DMC’s operating performance (as further described in the tables below).

•Adjusted EBITDA attributable to DMC Global Inc.: excludes the Adjusted EBITDA attributable to the 40% redeemable noncontrolling interest in Arcadia Products.

•Adjusted EBITDA for DMC business segments: defined as operating income (loss) plus depreciation, amortization, allocated stock-based compensation (if applicable), restructuring expenses and asset impairment charges (if applicable) and, when appropriate, nonrecurring items that management does not utilize in assessing DMC's operating performance.

•Adjusted net income (loss): defined as net income (loss) attributable to DMC Global Inc. stockholders prior to the adjustment of redeemable noncontrolling interest plus restructuring expenses and asset impairment charges (if applicable) and, when appropriate, nonrecurring items that management does not utilize in assessing DMC’s operating performance.

•Adjusted diluted earnings per share: defined as diluted earnings per share attributable to DMC Global Inc. stockholders (exclusive of adjustment of redeemable noncontrolling interest) plus restructuring expenses and asset impairment charges (if applicable) and, when appropriate, nonrecurring items that management does not utilize in assessing DMC's operating performance.

•Net debt: defined as total debt less consolidated cash and cash equivalents per the Condensed Consolidated Balance Sheets.

Management believes providing these additional financial measures is useful to investors in understanding DMC's operating performance, excluding the effects of restructuring, impairment, and other nonrecurring charges, as well as its liquidity. Management typically monitors the business utilizing the above non-GAAP measures, in addition to GAAP results, to understand and compare operating results across accounting periods, and certain management incentive awards are based, in part, on these measures. The presence of non-GAAP financial measures in this report is not intended to suggest that such measures be considered in isolation or as a substitute for, or as superior to, DMC’s GAAP information, and investors are cautioned that the non-GAAP financial measures are limited in their usefulness.

Because not all companies use identical calculations, DMC’s presentation of non-GAAP financial measures may not be comparable to other similarly titled measures of other companies. However, these measures can still be useful in evaluating the company’s performance against its peer companies because management believes the measures provide users with valuable insight into key components of GAAP financial disclosures. For example, a company with greater GAAP net income may not be as appealing to investors if its net income is more heavily comprised of gains on asset sales. Likewise, eliminating the effects of interest income and expense moderates the impact of a company’s capital structure on its performance.

DMC is unable to reconcile its expected third quarter 2026 adjusted EBITDA attributable to DMC to the most directly comparable projected GAAP financial measure because certain information necessary to calculate such measure on a GAAP basis is unavailable or dependent on the timing of future events outside of DMC’s control. Therefore, because of the uncertainty and variability of the nature of and the amount of any potential applicable future adjustments, which could be significant, DMC is unable to provide a reconciliation for expected adjusted EBITDA attributable to DMC without unreasonable efforts.

About DMC Global Inc.

DMC Global is an owner and operator of innovative, asset-light manufacturing businesses that provide unique, highly engineered products and differentiated solutions. DMC’s businesses have established leadership positions in their respective markets and consist of: Arcadia Products, a leading supplier of architectural building products; DynaEnergetics, which serves the global energy industry; and NobelClad, which addresses the global industrial infrastructure and transportation sectors. Based in Broomfield, Colorado, DMC trades on Nasdaq under the symbol “BOOM.” For more information, visit: http://www.dmcglobal.com/.

###

Safe Harbor Language

Except for the historical information contained herein, this news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including third quarter 2026 guidance on sales and adjusted EBITDA attributable to DMC; the expectation of accelerated order shipments at NobelClad as delays in order acceptance by customers is expected to abate; the expected easing of macroeconomic headwinds at DynaEnergetics and NobelClad; the expected increase in well completion activity in DynaEnergetics’ end markets, and the expected steady performance in results at Arcadia. Such statements and information are based on numerous assumptions regarding present and future business strategies, the markets in which we operate, anticipated costs and the ability to achieve goals. Forward-looking information and statements are subject to known and unknown risks,

uncertainties and other important factors that may cause actual results and performance to be materially different from those expressed or implied by such forward-looking information and statements, including but not limited to: changes in global economic conditions, including tariffs or reciprocal tariffs; our ability to obtain new contracts at attractive prices; the size and timing of customer orders and shipments; product pricing and margins; our ability to realize sales from our backlog and our ability to adjust our manufacturing and supply chain; fluctuations in customer demand; our ability to manage periods of growth and contraction effectively; general economic conditions, both domestic and foreign, impacting our business and the business of the end-market users we serve; competitive factors; the timely completion of contracts; the timing and size of expenditures; the timely receipt of government approvals and permits; the price and availability of metal and other raw materials; the adequacy of local labor supplies at our facilities; current or future limits on manufacturing capacity at our various operations; the impact of catastrophic weather events on our business and that of our customers; the ability to remain an innovative leader in our fields of business; the costs and impacts of pending or future litigation or regulatory matters; changes to legislation, regulation or public sentiment related to our business and the industries in which our customers operate; the impacts of trade and economic sanctions or other restrictions imposed by the European Union, the United States or other countries; costs and risks associated with compliance with laws and regulations, including the United States Foreign Corrupt Practices Act and similar legislation; the availability and cost of funds; fluctuations in foreign currencies; actions of activist stockholders or others; the impact of our stockholder protection rights agreement, which includes terms and conditions that could discourage a takeover or other transaction that stockholders may consider favorable, as well as the other risks detailed from time to time in our SEC reports, including the annual report on Form 10-K for the year ended December 31, 2025. We do not undertake any obligation to release public revisions to any forward-looking statement, including, without limitation, to reflect events or circumstances after the date of this news release, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.

DMC GLOBAL INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Amounts in Thousands, Except Share and Per Share Data)

(unaudited)

Three months ended Change

Jun 30, 2026 Mar 31, 2026 Jun 30, 2025 Sequential Year-on-year

NET SALES $ 156,953 $ 135,595 $ 155,487 16 % 1 %

COST OF PRODUCTS SOLD 122,598 110,152 118,756 11 % 3 %

Gross profit 34,355 25,443 36,731 35 % (6) %

Gross profit percentage 21.9 % 18.8 % 23.6 %

COSTS AND EXPENSES:

General and administrative expenses 13,916 14,132 15,905 (2) % (13) %

Selling and distribution expenses 10,625 10,472 10,242 1 % 4 %

Amortization of purchased intangible assets 4,357 4,356 4,763 — % (9) %

Strategic review and related expenses — — 775 — % (100) %

Restructuring expenses and asset impairments 239 566 1,149 (58) % (79) %

Total costs and expenses 29,137 29,526 32,834 (1) % (11) %

OPERATING INCOME (LOSS) 5,218 (4,083) 3,897 228 % 34 %

OTHER EXPENSE:

Other income (expense), net 15 (45) (346) 133 % 104 %

Interest expense, net (1,280) (1,461) (1,811) (12) % (29) %

INCOME (LOSS) BEFORE INCOME TAXES 3,953 (5,589) 1,740 171 % 127 %

INCOME TAX PROVISION 1,936 1,221 1,419 59 % 36 %

NET INCOME (LOSS) 2,017 (6,810) 321 130 % 528 %

Less: Net income (loss) attributable to redeemable noncontrolling interest 1,510 (745) 205 303 % 637 %

NET INCOME (LOSS) ATTRIBUTABLE TO DMC GLOBAL INC. STOCKHOLDERS $ 507 $ (6,065) $ 116 108 % 337 %

NET INCOME (LOSS) PER SHARE ATTRIBUTABLE TO DMC GLOBAL INC. STOCKHOLDERS

Basic $ 0.10 $ (0.34) $ (0.24) 129 % 142 %

Diluted $ 0.10 $ (0.34) $ (0.24) 129 % 142 %

WEIGHTED AVERAGE SHARES OUTSTANDING:

Basic 20,199,424 20,066,158 20,134,760 1 % — %

Diluted 20,235,822 20,066,158 20,134,760 1 % 1 %

Reconciliation to net income (loss) attributable to DMC Global Inc. stockholders after adjustment of redeemable noncontrolling interest for purposes of calculating earnings per share

Three months ended

Jun 30, 2026 Mar 31, 2026 Jun 30, 2025

Net income (loss) attributable to DMC Global Inc. stockholders $ 507 $ (6,065) $ 116

Adjustment of redeemable noncontrolling interest 1,541 (735) (4,900)

Net income (loss) attributable to DMC Global Inc. stockholders after adjustment of redeemable noncontrolling interest $ 2,048 $ (6,800) $ (4,784)

DMC GLOBAL INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Amounts in Thousands, Except Share and Per Share Data)

(unaudited)

Six months ended Change

Jun 30, 2026 Jun 30, 2025 Year-on-year

NET SALES $ 292,548 $ 314,777 (7) %

COST OF PRODUCTS SOLD 232,750 236,847 (2) %

Gross profit 59,798 77,930 (23) %

Gross profit percentage 20.4 % 24.8 %

COSTS AND EXPENSES:

General and administrative expenses 28,048 32,579 (14) %

Selling and distribution expenses 21,097 21,868 (4) %

Amortization of purchased intangible assets 8,713 9,526 (9) %

Strategic review and related expenses — 2,073 (100) %

Restructuring expenses and asset impairments 805 1,474 (45) %

Total costs and expenses 58,663 67,520 (13) %

OPERATING INCOME 1,135 10,410 (89) %

OTHER EXPENSE:

Other expense, net (30) (564) (95) %

Interest expense, net (2,741) (3,510) (22) %

(LOSS) INCOME BEFORE INCOME TAXES (1,636) 6,336 126 %

INCOME TAX PROVISION 3,157 4,152 (24) %

NET (LOSS) INCOME (4,793) 2,184 319 %

Less: Net income attributable to redeemable noncontrolling interest 765 1,391 (45) %

NET (LOSS) INCOME ATTRIBUTABLE TO DMC GLOBAL INC. STOCKHOLDERS $ (5,558) $ 793 801 %

NET LOSS PER SHARE ATTRIBUTABLE TO DMC GLOBAL INC. STOCKHOLDERS

Basic $ (0.24) $ (0.20) 20 %

Diluted $ (0.24) $ (0.20) 20 %

WEIGHTED AVERAGE SHARES OUTSTANDING:

Basic 20,133,159 19,861,073 1 %

Diluted 20,133,159 19,861,073 1 %

Reconciliation to net loss attributable to DMC Global Inc. stockholders after adjustment of redeemable noncontrolling interest for purposes of calculating earnings per share

Six months ended

Jun 30, 2026 Jun 30, 2025

Net (loss) income attributable to DMC Global Inc. stockholders $ (5,558) $ 793

Adjustment of redeemable noncontrolling interest 806 (4,819)

Net loss attributable to DMC Global Inc. stockholders after adjustment of redeemable noncontrolling interest $ (4,752) $ (4,026)

DMC GLOBAL INC.

SEGMENT STATEMENTS OF OPERATIONS

(Amounts in Thousands)

(unaudited)

Arcadia Products

Three months ended Change

Jun 30, 2026 Mar 31, 2026 Jun 30, 2025 Sequential Year-on-year

Net sales $ 67,419 $ 56,706 $ 61,980 19 % 9 %

Gross profit 18,664 13,665 16,250 37 % 15 %

Gross profit percentage 27.7 % 24.1 % 26.2 %

COSTS AND EXPENSES:

General and administrative expenses 6,205 6,431 6,489 (4) % (4) %

Selling and distribution expenses 4,410 4,385 4,290 1 % 3 %

Amortization of purchased intangible assets 4,357 4,356 4,763 — % (9) %

Restructuring expenses and asset impairments 47 495 192 (91) % (76) %

Operating income (loss) 3,645 (2,002) 516 282 % 606 %

Adjusted EBITDA 9,150 3,902 6,725 134 % 36 %

Less: adjusted EBITDA attributable to redeemable noncontrolling interest (3,660) (1,561) (2,690) 134 % 36 %

Adjusted EBITDA attributable to DMC Global Inc. $ 5,490 $ 2,341 $ 4,035 135 % 36 %

Six months ended Change

Jun 30, 2026 Jun 30, 2025 Year-on-year

Net sales $ 124,125 $ 127,560 (3) %

Gross profit 32,329 36,611 (12) %

Gross profit percentage 26.0 % 28.7 %

COSTS AND EXPENSES:

General and administrative expenses 12,636 13,949 (9) %

Selling and distribution expenses 8,795 9,107 (3) %

Amortization of purchased intangible assets 8,713 9,526 (9) %

Restructuring expenses and asset impairments 542 517 5 %

Operating income 1,643 3,512 (53) %

Adjusted EBITDA 13,052 16,052 (19) %

Less: adjusted EBITDA attributable to redeemable noncontrolling interest (5,221) (6,421) (19) %

Adjusted EBITDA attributable to DMC Global Inc. $ 7,831 $ 9,631 (19) %

DynaEnergetics

Three months ended Change

Jun 30, 2026 Mar 31, 2026 Jun 30, 2025 Sequential Year-on-year

Net sales $ 67,383 $ 59,547 $ 66,862 13 % 1 %

Gross profit 10,714 7,505 13,959 43 % (23) %

Gross profit percentage 15.9 % 12.6 % 20.9 %

COSTS AND EXPENSES:

General and administrative expenses 2,619 2,640 3,028 (1) % (14) %

Selling and distribution expenses 4,101 3,882 3,774 6 % 9 %

Restructuring expenses and asset impairments 67 71 746 (6) % (91) %

Operating income 3,927 912 6,411 331 % (39) %

Adjusted EBITDA $ 5,638 $ 2,746 $ 8,979 105 % (37) %

DMC GLOBAL INC.

SEGMENT STATEMENTS OF OPERATIONS

(Amounts in Thousands)

(unaudited)

Six months ended Change

Jun 30, 2026 Jun 30, 2025 Year-on-year

Net sales $ 126,930 $ 132,413 (4) %

Gross profit 18,219 26,770 (32) %

Gross profit percentage 14.4 % 20.2 %

COSTS AND EXPENSES:

General and administrative expenses 5,259 5,775 (9) %

Selling and distribution expenses 7,983 8,250 (3) %

Restructuring expenses and asset impairments 138 746 (82) %

Operating income 4,839 11,999 (60) %

Adjusted EBITDA $ 8,384 $ 16,358 (49) %

NobelClad

Three months ended Change

Jun 30, 2026 Mar 31, 2026 Jun 30, 2025 Sequential Year-on-year

Net sales $ 22,151 $ 19,342 $ 26,645 15 % (17) %

Gross profit 5,010 4,377 6,593 14 % (24) %

Gross profit percentage 22.6 % 22.6 % 24.7 %

COSTS AND EXPENSES:

General and administrative expenses 746 1,168 852 (36) % (12) %

Selling and distribution expenses 2,081 2,157 2,123 (4) % (2) %

Restructuring expenses and asset impairments — — 211 — % (100) %

Operating income 2,183 1,052 3,407 108 % (36) %

Adjusted EBITDA $ 3,032 $ 1,893 $ 4,399 60 % (31) %

Six months ended Change

Jun 30, 2026 Jun 30, 2025 Year-on-year

Net sales $ 41,493 $ 54,804 (24) %

Gross profit 9,387 14,690 (36) %

Gross profit percentage 22.6 % 26.8 %

COSTS AND EXPENSES:

General and administrative expenses 1,914 2,043 (6) %

Selling and distribution expenses 4,238 4,407 (4) %

Restructuring expenses and asset impairments — 211 (100) %

Operating income 3,235 8,029 (60) %

Adjusted EBITDA $ 4,925 $ 9,815 (50) %

DMC GLOBAL INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(Amounts in Thousands)

Change

Jun 30, 2026 Mar 31, 2026 Dec 31, 2025 Sequential Year-end

(unaudited) (unaudited)

ASSETS

Cash and cash equivalents $ 28,551 $ 31,511 $ 31,898 (9) % (10) %

Accounts receivable, net 102,051 90,861 93,697 12 % 9 %

Inventories 167,309 167,002 144,552 — % 16 %

Prepaid expenses and other 15,256 12,210 16,224 25 % (6) %

Total current assets 313,167 301,584 286,371 4 % 9 %

Property, plant and equipment, net 121,104 124,407 127,358 (3) % (5) %

Purchased intangible assets, net 146,338 150,695 155,051 (3) % (6) %

Other long-term assets 69,017 71,723 67,051 (4) % 3 %

Total assets $ 649,626 $ 648,409 $ 635,831 — % 2 %

LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST, AND STOCKHOLDERS’ EQUITY

Accounts payable $ 49,076 $ 58,386 $ 48,188 (16) % 2 %

Contract liabilities 30,072 27,048 22,568 11 % 33 %

Accrued income taxes 2,762 2,087 4,289 32 % (36) %

Current portion of long-term debt 3,750 3,750 3,438 — % 9 %

Other current liabilities 36,870 34,690 35,842 6 % 3 %

Total current liabilities 122,530 125,961 114,325 (3) % 7 %

Long-term debt 55,314 50,204 47,206 10 % 17 %

Deferred tax liabilities 412 117 475 252 % (13) %

Other long-term liabilities 46,940 49,852 44,695 (6) % 5 %

Redeemable noncontrolling interest 187,080 187,080 187,080 — % — %

Stockholders’ equity 237,350 235,195 242,050 1 % (2) %

Total liabilities, redeemable noncontrolling interest, and stockholders’ equity $ 649,626 $ 648,409 $ 635,831 — % 2 %

DMC GLOBAL INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Amounts in Thousands)

(unaudited)

Three months ended Six months ended

Jun 30, 2026 Mar 31, 2026 Jun 30, 2025 Jun 30, 2026 Jun 30, 2025

CASH FLOWS FROM OPERATING ACTIVITIES:

Net income (loss) $ 2,017 $ (6,810) $ 321 $ (4,793) $ 2,184

Adjustments to reconcile net income (loss) to net cash from operating activities:

Depreciation 3,588 3,715 3,707 7,303 7,367

Amortization of purchased intangible assets 4,357 4,356 4,763 8,713 9,526

Amortization of deferred debt issuance costs 241 231 231 472 448

Stock-based compensation 794 863 1,417 1,657 3,016

Bad debt expense 34 61 (10) 95 696

Deferred income taxes 898 (339) 392 559 414

Asset impairments — — 296 — 296

Other, net (457) (119) 433 (576) 988

Change in working capital, net (19,432) (4,337) 3,696 (23,769) (5,201)

Net cash (used in) provided by operating activities (7,960) (2,379) 15,246 (10,339) 19,734

CASH FLOWS FROM INVESTING ACTIVITIES:

Acquisition of property, plant and equipment (1,274) (2,110) (2,921) (3,384) (6,700)

Proceeds from property, plant and equipment reimbursements 556 847 1,362 1,403 1,788

Proceeds on sale of property, plant and equipment 335 — 6 335 27

Proceeds from settlement of note receivable — — 4,167 — 4,167

Net cash (used in) provided by investing activities (383) (1,263) 2,614 (1,646) (718)

CASH FLOWS FROM FINANCING ACTIVITIES:

Repayments on term loan (937) (625) (625) (1,562) (1,250)

Borrowings on revolving loans 65,338 58,600 38,359 123,938 46,859

Repayments on revolving loans (59,400) (54,775) (51,512) (114,175) (57,887)

Payment of debt issuance costs — — (650) — (650)

Distributions to redeemable noncontrolling interest holder — — (5,104) — (6,255)

Treasury stock purchases (93) (367) (79) (460) (563)

Net cash provided by (used in) financing activities 4,908 2,833 (19,611) 7,741 (19,746)

EFFECTS OF EXCHANGE RATES ON CASH 475 422 (527) 897 (1,132)

NET DECREASE IN CASH AND CASH EQUIVALENTS (2,960) (387) (2,278) (3,347) (1,862)

CASH AND CASH EQUIVALENTS, beginning of the period 31,511 31,898 14,705 31,898 14,289

CASH AND CASH EQUIVALENTS, end of the period $ 28,551 $ 31,511 $ 12,427 $ 28,551 $ 12,427

DMC GLOBAL INC.

RECONCILIATIONS OF NON-GAAP FINANCIAL MEASUREMENTS TO MOST

DIRECTLY COMPARABLE GAAP FINANCIAL MEASUREMENTS

(Amounts in Thousands)

(unaudited)

DMC Global

EBITDA and Adjusted EBITDA

Three months ended Six months ended

Jun 30, 2026 Mar 31, 2026 Jun 30, 2025 Jun 30, 2026 Jun 30, 2025

Net income (loss) $ 2,017 $ (6,810) $ 321 $ (4,793) $ 2,184

Interest expense, net 1,280 1,461 1,811 2,741 3,510

Income tax provision 1,936 1,221 1,419 3,157 4,152

Depreciation 3,588 3,715 3,707 7,303 7,367

Amortization of purchased intangible assets 4,357 4,356 4,763 8,713 9,526

EBITDA 13,178 3,943 12,021 17,121 26,739

Stock-based compensation 931 902 1,417 1,833 2,980

Strategic review and related expenses — — 775 — 2,073

Restructuring expenses and asset impairments 239 566 1,149 805 1,474

Executive transition costs — — 520 — 520

Other (income) expense, net (15) 45 346 30 564

Adjusted EBITDA $ 14,333 $ 5,456 $ 16,228 $ 19,789 $ 34,350

Less: adjusted EBITDA attributable to redeemable noncontrolling interest (3,660) (1,561) (2,690) (5,221) (6,421)

Adjusted EBITDA attributable to DMC Global Inc. $ 10,673 $ 3,895 $ 13,538 $ 14,568 $ 27,929

DMC GLOBAL INC.

RECONCILIATIONS OF NON-GAAP FINANCIAL MEASUREMENTS TO MOST

DIRECTLY COMPARABLE GAAP FINANCIAL MEASUREMENTS

(Amounts in Thousands)

(unaudited)

Adjusted Net Income (Loss)* and Adjusted Diluted Earnings per Share

*Net income (loss) attributable to DMC Global Inc. prior to the adjustment of redeemable noncontrolling interest for purposes of calculating earnings per share

Three months ended June 30, 2026

Amount

Per Share (1)

Net income attributable to DMC Global Inc.*

$ 507 $ 0.03

Restructuring expenses and asset impairments, net of tax 220 0.01

As adjusted $ 727 $ 0.04

(1) Calculated using diluted weighted average shares outstanding of 20,235,822.

Three months ended March 31, 2026

Amount

Per Share (1)

Net loss attributable to DMC Global Inc.*

$ (6,065) $ (0.30)

Restructuring expenses and asset impairments, net of tax 368 0.02

As adjusted $ (5,697) $ (0.28)

(1) Calculated using diluted weighted average shares outstanding of 20,066,158.

Three months ended June 30, 2025

Amount

Per Share (1)

Net income attributable to DMC Global Inc.*

$ 116 $ —

Strategic review and related expenses, net of tax 775 0.04

Restructuring expenses and asset impairments, net of tax 1,062 0.05

Executive transition costs, net of tax 520 0.03

As adjusted $ 2,473 $ 0.12

(1) Calculated using diluted weighted average shares outstanding of 20,134,760.

Six months ended June 30, 2026

Amount

Per Share (1)

Net loss attributable to DMC Global Inc.*

$ (5,558) $ (0.28)

Restructuring expenses and asset impairments, net of tax 588 0.03

As adjusted $ (4,970) $ (0.25)

(1) Calculated using diluted weighted average shares outstanding of 20,133,159.

Six months ended June 30, 2025

Amount

Per Share (1)

Net income attributable to DMC Global Inc.*

$ 793 $ 0.04

Strategic review and related expenses, net of tax 2,073 0.10

Restructuring expenses and asset impairments, net of tax 1,257 0.06

Executive transition costs, net of tax 520 0.03

As adjusted $ 4,643 $ 0.23

(1) Calculated using diluted weighted average shares outstanding of 19,861,073.

DMC GLOBAL INC.

RECONCILIATIONS OF NON-GAAP FINANCIAL MEASUREMENTS TO MOST

DIRECTLY COMPARABLE GAAP FINANCIAL MEASUREMENTS

(Amounts in Thousands)

(unaudited)

Segment Adjusted EBITDA

Arcadia Products

Three months ended Six months ended

Jun 30, 2026 Mar 31, 2026 Jun 30, 2025 Jun 30, 2026 Jun 30, 2025

Operating income (loss), as reported $ 3,645 $ (2,002) $ 516 $ 1,643 $ 3,512

Adjustments:

Depreciation 1,023 1,029 1,016 2,052 2,022

Amortization of purchased intangible assets 4,357 4,356 4,763 8,713 9,526

Stock-based compensation 78 24 238 102 475

Restructuring expenses and asset impairments 47 495 192 542 517

Adjusted EBITDA 9,150 3,902 6,725 13,052 16,052

Less: adjusted EBITDA attributable to redeemable noncontrolling interest (3,660) (1,561) (2,690) (5,221) (6,421)

Adjusted EBITDA attributable to DMC Global Inc. $ 5,490 $ 2,341 $ 4,035 $ 7,831 $ 9,631

DynaEnergetics

Three months ended Six months ended

Jun 30, 2026 Mar 31, 2026 Jun 30, 2025 Jun 30, 2026 Jun 30, 2025

Operating income, as reported $ 3,927 $ 912 $ 6,411 $ 4,839 $ 11,999

Adjustments:

Depreciation 1,644 1,763 1,822 3,407 3,613

Restructuring expenses and asset impairments 67 71 746 138 746

Adjusted EBITDA $ 5,638 $ 2,746 $ 8,979 $ 8,384 $ 16,358

NobelClad

Three months ended Six months ended

Jun 30, 2026 Mar 31, 2026 Jun 30, 2025 Jun 30, 2026 Jun 30, 2025

Operating income, as reported $ 2,183 $ 1,052 $ 3,407 $ 3,235 $ 8,029

Adjustments:

Depreciation 849 841 781 1,690 1,575

Restructuring expenses and asset impairments — — 211 — 211

Adjusted EBITDA $ 3,032 $ 1,893 $ 4,399 $ 4,925 $ 9,815

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