Company: CODI-PB
Filing Date: 2025-12-08
Form Type: 10-K/A
Source: 0001345126-25-000078
Chunk: 159

Company: Compass Diversified Holdings
Filing Date: 2025-12-08
Form: 10-K/A
Chunk 159
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 operating income was $27.3 million for the year ended December 31, 2023 as compared to $57.8 million in segment operating income in the year ended December 31, 2022, a decrease of $30.5 million based on the factors noted above.

#### Lugano

### Overview
Lugano is a des igner, manufacturer, and retailer of high-end jewelry. Lugano conducts sales via its own retail salons as well as pop-up showrooms at Lugano-hosted or sponsored events in partnership with organizations in the equestrian, art, and philanthropic communities. Lugano is headquartered in Newport Beach, California.

### Restatement of Lugano Results of Operations
As described in the Explanatory Note above and in Part II, Item 8, Note B - Summary of Significant Accounting Policies to the Consolidated Financial Statements, the Company has restated its Consolidated Financial Statements as of December 31, 2024, 2023 and 2022 and for the years ended December 31, 2024, 2023 and 2022 to reflect the correction of historical financial information specific to Lugano, and to recast the Consolidated Balance Sheet for the year ended December 31, 2022 in “Note C - Restatement of Previously Issued Consolidated Financial Statements” and the Consolidated Balance Sheets, Consolidated Statements of Operations and Consolidated Statement of Cash Flows for the unaudited interim periods in the year ended December 31, 2022 in “Note S - Unaudited Quarterly Financial Data” in the “Notes to the Consolidated Financial Statements” included in this Form 10-K/A to reflect the effect of the sale of EBP Lifestyle Brands Holdings, Inc. during the fourth quarter of 2024. The

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following table presents the "As Reported" and the "As Adjusted" financial information for Lugano and Management's discussion and analysis of the "As Adjusted" components of the results of operations for each of the periods presented. For details of the adjustments to the "As Reported" financial information of Lugano, refer to Note C - Restatement of Previously Issued Consolidated Financial Statements .

### Results of Operations
|                                             | (in thousands) | Year ended December 31, |    2024 |     |             |         |     |             |    2023 |     |             |         |     |             |    2022