# EDGAR Filing Document

**Accession Number:** 0001860543
**File Stem:** 0001558370-25-010294
**Filing Date:** 2025-8
**Character Count:** 55642
**Document Hash:** 4e1a4806245779265c488966c7176fec
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001558370-25-010294.hdr.sgml**: 20250805

**ACCESSION NUMBER**: 0001558370-25-010294

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 36

**CONFORMED PERIOD OF REPORT**: 20250805

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250805

**DATE AS OF CHANGE**: 20250805

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Cadre Holdings, Inc.
- **CENTRAL INDEX KEY:** 0001860543
- **STANDARD INDUSTRIAL CLASSIFICATION:** ORTHOPEDIC, PROSTHETIC & SURGICAL APPLIANCES & SUPPLIES [3842]
- **ORGANIZATION NAME:** 08 Industrial Applications and Services
- **EIN:** 383873146
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40698
- **FILM NUMBER:** 251185178

**BUSINESS ADDRESS:**
- **STREET 1:** 13386 INTERNATIONAL PKWY
- **CITY:** JACKSONVILLE
- **STATE:** FL
- **ZIP:** 32218
- **BUSINESS PHONE:** (904) 741-5400

**MAIL ADDRESS:**
- **STREET 1:** 13386 INTERNATIONAL PKWY
- **CITY:** JACKSONVILLE
- **STATE:** FL
- **ZIP:** 32218

?xml version='1.0' encoding='ASCII'?

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**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): August 5, 2025

CADRE HOLDINGS, INC.

(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| Delaware | 001-40698 | 38-3873146 |
| (State or other jurisdiction | (Commission File Number) | (IRS Employer |
| of incorporation) |  | Identification Number) |

---

---

| | |
|:---|:---|
| 13386 International Pkwy | 32218 |
| Jacksonville, Florida  | (Zip Code) |
| (Address of principal executive offices) |  |

---

Registrant's telephone number, including area code: (904) 741-5400

N/A

(Former name or former address, if changed since last report.)

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 each exchange on which registered** |
| Common Stock, par value $0.0001  | CDRE | New York Stock Exchange |

---

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).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;☒ Emerging growth company

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. ☐

------

**Item 2.02 Results of Operations and Financial Condition**

On August 5, 2025, Cadre Holdings, Inc. (the "Company") issued a press release announcing its financial results for the quarter ended June 30, 2025. A copy of this press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. Attached hereto as Exhibit 99.2 and incorporated herein by reference is a presentation regarding the Company's financial results for the quarter ended June 30, 2025.

The press release and presentation contain the non-GAAP measures earnings before interest, taxes, other income or expense, depreciation and amortization ("EBITDA"), adjusted EBITDA, adjusted EBITDA margin and last twelve months adjusted EBITDA. The Company believes that the presentation of these non-GAAP measures provides useful information for the understanding of its ongoing operations and enables investors to focus on period-over-period operating performance, and thereby enhances the user's overall understanding of the Company's current financial performance relative to past performance and provides, along with the nearest GAAP measures, a baseline for modeling future earnings expectations. The non-GAAP measures are reconciled to comparable GAAP financial measures within the press release and the presentation. We do not provide a reconciliation of the non-GAAP guidance measure Adjusted EBITDA for the fiscal year 2025 to net income for the fiscal year 2025, the most comparable GAAP financial measure, due to the inherent difficulty of forecasting certain types of expenses and gains, without unreasonable effort, which affect net income but not Adjusted EBITDA. The Company cautions that non-GAAP measures should be considered in addition to, but not as a substitute for, the Company's reported GAAP results. Additionally, the Company notes that there can be no assurance that the above referenced non-GAAP financial measures are comparable to similarly titled financial measures used by other publicly traded companies.

The information in Item 2.02 of this Current Report on Form 8-K (including Exhibits 99.1 and 99.2 attached hereto) shall not be deemed "filed" for purposes of Section 18 of the Securities Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

**Item 9.01. Financial Statements and Exhibits**

(d) Exhibits.

---

| | |
|:---|:---|
| Exhibit | Description |
| 99.1 | [Press Release, dated August 5, 2025 (furnished only).](cdre-20250805xex99d1.htm) |
| 99.2 | [Slide Presentation for Conference Call to be held on August 6, 2025 (furnished only).](cdre-20250805xex99d2.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

---

**SIGNATURES**

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

Dated: August 5, 2025

---

| | |
|:---|:---|
| **CADRE HOLDINGS, INC.** | **CADRE HOLDINGS, INC.** |
| By: | /s/ Blaine Browers |
|  | Name:Blaine Browers |
|  | Title:Chief Financial Officer |

---

## Exhibit 99.1

#### Exhibit 99.1
**Cadre Holdings Reports Second Quarter 2025 Financial Results**

*Increased Quarterly Net Sales 9% and Gross Profit 10% Year-Over-Year*

*Continued Strong Demand Trends for Mission Critical Safety Equipment*

**JACKSONVILLE, Fla., August 5, 2025** – Cadre Holdings, Inc. (NYSE: CDRE) ("Cadre" or "Company"), a global leader in the manufacturing and distribution of safety equipment and other related products for the law enforcement, first responder, military and nuclear markets, announced today its consolidated operating results for the three and six months ended June 30, 2025.

● Net sales of $157.1 million for the second quarter; net sales of $287.2 million for the six months ended June 30, 2025.

● Gross profit margin of 40.9% for the second quarter; gross profit margin of 41.9% for the six months ended June 30, 2025.

● Net income of $12.2 million, or $0.30 per diluted share, for the second quarter; net income of $21.5 million, or $0.52 per diluted share, for the six months ended June 30, 2025.

● Adjusted EBITDA of $27.0 million for the second quarter; Adjusted EBITDA of $47.5 million for the six months ended June 30, 2025.

● Adjusted EBITDA margin of 17.2% for the second quarter; Adjusted EBITDA margin of 16.5% for the six months ended June 30, 2025.

● Declared quarterly cash dividend of $0.095 per share in July 2025.

"We delivered strong revenue growth and profitability in the second quarter, despite a fluid macro environment, which underscores the positive demand trends we continue to see for Cadre's best-in-class safety products across our law enforcement, first responder, military and nuclear categories," said Warren Kanders, CEO and Chairman. "Revenue and gross profit increased year-over-year by 9% and 10%, respectively. We remain confident that the combination of Cadre's track record of superior execution, resilience in the face of economic, political, geopolitical and other cycles, as well as our disciplined approach to capital allocation, will continue to drive strong results moving forward."

Mr. Kanders added, "After completing the acquisition of multiple leading, niche global nuclear brands from Carr's Group in the second quarter, we are excited about the momentum in our nuclear safety business and opportunities to deepen our exposure to this attractive market segment. Today, the primary drivers of growth are related to significant environmental cleanup needs and expanding national defense programs, with the global upswing in nuclear power creating even greater demand for our suite of safety products and services in the future."

Mr. Kanders concluded, "As we consider the Company's 2025 outlook, we have seen the timing of large opportunities shift more than in prior years, but we believe we are well positioned to continue to leverage our strong brands and drive growth over the long term. We expect our team's steadfast commitment to the Company's life-saving mission, constant innovation, and the principles of the Cadre operating model will drive superior performance. Additionally, with cash on the balance sheet of $137 million and undrawn revolver capacity of $175 million, Cadre is well positioned to capitalize on meaningful organic and inorganic growth opportunities ahead."

**Second Quarter and Six-Month 2025 Operating Results**

For the quarter ended June 30, 2025, Cadre generated net sales of $157.1 million, as compared to $144.3 million for the quarter ended June 30, 2024. This increase was primarily a result of recent acquisitions.

For the six months ended June 30, 2025, Cadre generated net sales of $287.2 million, as compared to $282.2 million for the six months ended June 30, 2024, also mainly driven by recent acquisitions, as well as strong demand for nuclear safety and duty gear products, partially offset by large order shipment timing for explosive ordnance disposal ("EOD") and armor products.

------

For the quarter ended June 30, 2025, Cadre generated gross profit of $64.2 million, as compared to $58.7 million for the quarter ended June 30, 2024. For the six months ended June 30, 2025, Cadre generated gross profit of $120.4 million, as compared to $116.3 million for the prior year period.

Gross profit margin was 40.9% for the quarter ended June 30, 2025, as compared to 40.6% for the quarter ended June 30, 2024, mainly driven by favorable pricing and product mix, the absence of inventory step-up amortization, and exchange rate favorability. Gross profit margin was 41.9% for the six months ended June 30, 2025, as compared to 41.2% for the prior year period.

Net income was $12.2 million for the quarter ended June 30, 2025, as compared to net income of $12.6 million for the quarter ended June 30, 2024. The decrease resulted primarily as a result of acquisition related costs offset by foreign exchange.

Net income was $21.5 million for the six months ended June 30, 2025, as compared to net income of $19.5 million for the prior year period, also primarily as a result of foreign exchange offset by interest expense.

Cadre generated $27.0 million of Adjusted EBITDA for the quarter ended June 30, 2025, as compared to $28.3 million for the quarter ended June 30, 2024. Adjusted EBITDA margin was 17.2% for the quarter ended June 30, 2025, as compared to 19.6% for the prior year period.

Cadre generated $47.5 million of Adjusted EBITDA for the six months ended June 30, 2025, as compared to $52.8 million for the prior period. Adjusted EBITDA margin was 16.5% for the six months ended June 30, 2024, as compared to 18.7% for the prior year period.

Product segment gross margin was 41.7% and 42.9% for the second quarter and first half of 2025, respectively, compared to 41.1% and 42.0% for the prior year periods.

Distribution segment gross margin was 23.1% and 22.3% for the second quarter and first half of 2025, respectively, compared to 22.9% and 23.2% for the prior year periods.

**Liquidity, Cash Flows and Capital Allocation**

● Cash and cash equivalents increased by $12.5 million from $124.9 million as of December 31, 2024 to $137.5 million as of June 30, 2025.

● Total debt increased by $91.9 million from $223.2 million as of December 31, 2024 to $315.2 million as of June 30, 2025.

● Net debt (total debt net of cash and cash equivalents) increased by $79.4 million from $98.3 million as of December 31, 2024 to $177.7 million as of June 30, 2025.

● Capital expenditures totaled $1.3 million for the second quarter and $2.7 million for the six months ended June 30, 2025, compared with $2.1 million for the second quarter and $3.4 million for the six months ended June 30, 2024.

**Dividend**

On July 22, 2025, the Company announced that its Board of Directors declared a quarterly cash dividend of $0.095 per share, or $0.38 per share on an annualized basis. Cadre's dividend payment will be made on August 15, 2025 to shareholders of record as of the close of business on the record date of August 1, 2025. The declaration of any future dividend is subject to the discretion of the Company's Board of Directors.

**2025 Outlook**

For the full year 2025, Cadre expects to generate net sales in the range of $624 million to $630 million and Adjusted EBITDA in the range of $112 million and $116 million. We expect capital expenditures to be in the range of $7 million to $8 million. These ranges reflect our updated expectations around the timing of orders and do not incorporate impacts from the new tariffs announced July 31<sup>st</sup> and expected to be effective in August. Cadre has not provided net income guidance due to the inherent difficulty of forecasting certain types of expenses and gains, which affect net income but

------

not Adjusted EBITDA. Therefore, we do not provide a reconciliation of Adjusted EBITDA guidance to net income guidance.

**Conference Call**

Management will host a conference call on Wednesday, August 6, 2025, at 10:00 a.m. EST to discuss the latest corporate developments and financial results. The dial-in number for callers in the US is (800)-715-9871 and the dial-in number for international callers is 646-307-1963. The access code for all callers is 9511718. A live webcast will also be available on the Company's website at <u>https://www.cadre-holdings.com/</u><u>.</u>

A replay of the call will be available through August 20, 2025. To access the replay, please dial 800-770-2030 in the U.S. or +1-609-800-9909 if outside the U.S., and then enter the access code 9511718.

**About Cadre**

Headquartered in Jacksonville, Florida, Cadre is a global leader in the manufacturing and distribution of safety products. Cadre's equipment provides critical protection to allow users to safely and securely perform their duties and protect those around them in hazardous or life-threatening situations. The Company's core products include body armor, explosive ordnance disposal equipment, duty gear and nuclear safety products. Our highly engineered products are utilized in over 100 countries by federal, state and local law enforcement, fire and rescue professionals, explosive ordnance disposal teams, and emergency medical technicians. Our key brands include Safariland® and Med-Eng®, amongst others.

**Use of Non-GAAP Measures**

The Company reports its financial results in accordance with U.S. generally accepted accounting principles ("GAAP"). The press release contains the non-GAAP measures: (i) earnings before interest, taxes, other income or expense, depreciation and amortization ("EBITDA"), (ii) adjusted EBITDA, (iii) adjusted EBITDA margin and (iv) last twelve months adjusted EBITDA. The Company believes the presentation of these non-GAAP measures provides useful information for the understanding of its ongoing operations and enables investors to focus on period- over-period operating performance, and thereby enhances the user's overall understanding of the Company's current financial performance relative to past performance and provides, along with the nearest GAAP measures, a baseline for modeling future earnings expectations. Non-GAAP measures are reconciled to comparable GAAP financial measures within this press release. We do not provide a reconciliation of the non-GAAP guidance measure Adjusted EBITDA for the fiscal year 2025 to net income for the fiscal year 2025, the most comparable GAAP financial measure, due to the inherent difficulty of forecasting certain types of expenses and gains, without unreasonable effort, which affect net income but not Adjusted EBITDA. The Company cautions that non-GAAP measures should be considered in addition to, but not as a substitute for, the Company's reported GAAP results. Additionally, the Company notes that there can be no assurance that the above referenced non-GAAP financial measures are comparable to similarly titled financial measures used by other publicly traded companies.

**Forward-Looking Statements**

Please note that in this press release we may use words such as "appears," "anticipates," "believes," "plans," "expects," "intends," "future," and similar expressions which constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are made based on our expectations and beliefs concerning future events impacting the Company and therefore involve a number of risks and uncertainties. We caution that forward-looking statements are not guarantees and that actual results could differ materially from those expressed or implied in the forward-looking statements. Potential risks and uncertainties that could cause the actual results of operations or financial condition of the Company to differ materially from those expressed or implied by forward-looking statements in this press release, include, but are not limited to, those risks and uncertainties more fully described from time to time in the Company's public reports filed with the Securities and Exchange Commission, including under the section titled "Risk Factors" in the Company's Annual Report on Form 10-K, and/or Quarterly Reports on Form 10-Q, as well as in the Company's Current Reports on Form 8-K. All forward-looking statements included in this press release are based upon information available to the Company as of the date of this press release and speak only as of the date hereof. We assume no obligation to update any forward- looking statements to reflect events or circumstances after the date of this press release.

------

**Contact:**

Gray Hudkins

Cadre Holdings, Inc.

203-550-7148

gray.hudkins@cadre-holdings.com

**Investor Relations:**

The IGB Group

Leon Berman / Matt Berkowitz

212-477-8438 / 212-227-7098

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#### CADRE HOLDINGS, INC.

#### CONDENSED CONSOLIDATED BALANCE SHEETS
**(Unaudited)**

**(In thousands, except share and per share amounts)**

---

| | | |
|:---|:---|:---|
|  | **June 30, 2025** | **December 31, 2024** |
| **Assets** |  |  |
| Current assets |  |  |
| &nbsp;&nbsp;Cash and cash equivalents | $137469 | $124933 |
| &nbsp;&nbsp;Accounts receivable, net of allowance for doubtful accounts of $905 and $876, respectively | 108127 | 93523 |
| &nbsp;&nbsp;Inventories | 109604 | 82351 |
| &nbsp;&nbsp;Prepaid expenses | 11836 | 19027 |
| &nbsp;&nbsp;Other current assets | 13980 | 7737 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total current assets** | 381016 | 327571 |
| Property and equipment, net of accumulated depreciation and amortization of $58,658 and $54,384, respectively | 81909 | 45243 |
| Operating lease assets | 21314 | 15454 |
| Deferred tax assets, net | 4917 | 4552 |
| Intangible assets, net | 126411 | 107544 |
| Goodwill | 174462 | 148157 |
| Other assets | 4408 | 4192 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total assets** | $794437 | $652713 |
| **Liabilities, Mezzanine Equity and Shareholders' Equity** |  |  |
| Current liabilities |  |  |
| &nbsp;&nbsp;Accounts payable | $32004 | $29644 |
| &nbsp;&nbsp;Accrued liabilities | 56531 | 46413 |
| &nbsp;&nbsp;Income tax payable | 1268 | 6693 |
| &nbsp;&nbsp;Current portion of long-term debt | 16265 | 11375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total current liabilities** | 106068 | 94125 |
| Long-term debt | 298885 | 211830 |
| Long-term operating lease liabilities | 15645 | 10733 |
| Deferred tax liabilities | 30306 | 18758 |
| Other liabilities | 11073 | 5752 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total liabilities** | 461977 | 341198 |
| Mezzanine equity |  |  |
| &nbsp;&nbsp;Preferred stock ($0.0001 par value, 10,000,000 shares authorized, no shares issued and outstanding as of June 30, 2025 and December 31, 2024) |  |  |
| Shareholders' equity |  |  |
| &nbsp;&nbsp;Common stock ($0.0001 par value, 190,000,000 shares authorized, 40,663,844 and 40,607,988 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively) | 4 | 4 |
| &nbsp;&nbsp;Additional paid-in capital | 310099 | 306821 |
| &nbsp;&nbsp;Accumulated other comprehensive income (loss) | 2540 | (1389) |
| &nbsp;&nbsp;Accumulated earnings | 19817 | 6079 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total shareholders' equity** | 332460 | 311515 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total liabilities, mezzanine equity and shareholders' equity** | $794437 | $652713 |

---

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#### CADRE HOLDINGS, INC.
**CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS**

**(Unaudited)**

**(In thousands, except share and per share amounts)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three Months Ended June 30,**  | **Three Months Ended June 30,**  | **Six Months Ended June 30,**  | **Six Months Ended June 30,**  |
|  | **2025** | **2024** | **2025** | **2024** |
| Net sales | $157109 | $144309 | $287215 | $282169 |
| Cost of goods sold | 92860 | 85659 | 166835 | 165891 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Gross profit** | 64249 | 58650 | 120380 | 116278 |
| Operating expenses |  |  |  |  |
| &nbsp;&nbsp;Selling, general and administrative | 45129 | 38577 | 86882 | 79296 |
| &nbsp;&nbsp;Restructuring and transaction costs | 3326 | 19 | 4024 | 3106 |
| &nbsp;&nbsp;Related party expense | 1109 | 101 | 1237 | 1944 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total operating expenses** | 49564 | 38697 | 92143 | 84346 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Operating income** | 14685 | 19953 | 28237 | 31932 |
| Other expense |  |  |  |  |
| &nbsp;&nbsp;Interest expense | (3590) | (2003) | (5821) | (3640) |
| &nbsp;&nbsp;Other income (expense), net | 6114 | (336) | 7401 | (1780) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total other expense, net** | 2524 | (2339) | 1580 | (5420) |
| Income before provision for income taxes | 17209 | 17614 | 29817 | 26512 |
| Provision for income taxes | (4998) | (5047) | (8358) | (7017) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Net income** | $12211 | $12567 | $21459 | $19495 |
| **Net income per share:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic | $0.30 | $0.31 | $0.53 | $0.50 |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted | $0.30 | $0.31 | $0.52 | $0.49 |
| **Weighted average shares outstanding:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic | 40661955 | 40606825 | 40640433 | 39276700 |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted | 40941790 | 40855185 | 40960025 | 39701754 |

---

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#### CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
**(Unaudited)**

**(In thousands)**

---

| | | |
|:---|:---|:---|
|  | **Six Months Ended June 30,**  | **Six Months Ended June 30,**  |
|  | **2025** | **2024** |
| **Cash Flows From Operating Activities:** |  |  |
| &nbsp;&nbsp;Net income | $21459 | $19495 |
| &nbsp;&nbsp;Adjustments to reconcile net income to net cash provided by operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 8532 | 8562 |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of original issue discount and debt issue costs | 829 | 502 |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of inventory step-up | 356 | 2310 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred income taxes | 266 | (1915) |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation | 4393 | 4151 |
| &nbsp;&nbsp;&nbsp;&nbsp;Remeasurement of contingent consideration | 857 | 509 |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision for losses on accounts receivable | 40 | 769 |
| &nbsp;&nbsp;&nbsp;&nbsp;Unrealized foreign exchange transaction (gain) loss | (3492) | 971 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other loss | 152 | 251 |
| &nbsp;&nbsp;&nbsp;&nbsp;Changes in operating assets and liabilities, net of impact of acquisitions: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable | 10365 | (3387) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventories | (11304) | 2355 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other assets | 3375 | 705 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable and other liabilities | (15849) | (21998) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by operating activities | 19979 | 13280 |
| **Cash Flows From Investing Activities:** |  |  |
| &nbsp;&nbsp;Purchase of property and equipment | (2733) | (3365) |
| &nbsp;&nbsp;Proceeds from disposition of property and equipment | 6 | 49 |
| &nbsp;&nbsp;Business acquisitions, net of cash acquired | (89590) | (141813) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash used in investing activities | (92317) | (145129) |
| **Cash Flows From Financing Activities:** |  |  |
| &nbsp;&nbsp;Proceeds from revolving credit facilities |  | 5500 |
| &nbsp;&nbsp;Principal payments on revolving credit facilities |  | (5500) |
| &nbsp;&nbsp;Proceeds from term loans | 97500 | 80000 |
| &nbsp;&nbsp;Principal payments on term loans | (5689) | (6065) |
| &nbsp;&nbsp;Principal payments on insurance premium financing |  | (2187) |
| &nbsp;&nbsp;Payments for debt issuance costs |  | (844) |
| &nbsp;&nbsp;Taxes paid in connection with employee stock transactions | (1185) | (5311) |
| &nbsp;&nbsp;Proceeds from secondary offering, net of underwriter discounts |  | 91776 |
| &nbsp;&nbsp;Deferred offering costs |  | (683) |
| &nbsp;&nbsp;Dividends distributed | (7721) | (6842) |
| &nbsp;&nbsp;Other | 38 | 37 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by financing activities | 82943 | 149881 |
| Effect of foreign exchange rates on cash and cash equivalents | 1931 | 180 |
| Change in cash and cash equivalents | 12536 | 18212 |
| Cash and cash equivalents, beginning of period | 124933 | 87691 |
| Cash and cash equivalents, end of period | $137469 | $105903 |
| **Supplemental Disclosure of Cash Flows Information:** |  |  |
| &nbsp;&nbsp;Cash paid for income taxes, net  | $16937 | $21605 |
| &nbsp;&nbsp;Cash paid for interest | $8202 | $6458 |
| **Supplemental Disclosure of Non-Cash Investing and Financing Activities:** |  |  |
| &nbsp;&nbsp;Accruals and accounts payable for capital expenditures | $259 | $58 |

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#### CADRE HOLDINGS, INC.

#### SEGMENT INFORMATION
**(Unaudited)**

**(In thousands)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three Months Ended June 30, 2025** | **Three Months Ended June 30, 2025** | **Three Months Ended June 30, 2025** | **Three Months Ended June 30, 2025** |
|  | <br>**Product** | <br>**Distribution** | **Reconciling**<br> **Items**<sup>(1)</sup> | <br>**Total** |
| Net sales | $140135 | $25508 | $(8534) | $157109 |
| Cost of goods sold | 81702 | 19609 | (8451) | 92860 |
| &nbsp;&nbsp;Gross profit | $58433 | $5899 | $(83) | $64249 |

---

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three Months Ended June 30, 2024** | **Three Months Ended June 30, 2024** | **Three Months Ended June 30, 2024** | **Three Months Ended June 30, 2024** |
|  | <br>**Product** | <br>**Distribution** | **Reconciling**<br> **Items**<sup>(1)</sup> | <br>**Total** |
| Net sales | $128433 | $25588 | $(9712) | $144309 |
| Cost of goods sold | 75621 | 19723 | (9685) | 85659 |
| &nbsp;&nbsp;Gross profit | $52812 | $5865 | $(27) | $58650 |

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six Months Ended June 30, 2025** | **Six Months Ended June 30, 2025** | **Six Months Ended June 30, 2025** | **Six Months Ended June 30, 2025** |
|  | <br>**&nbsp;&nbsp;&nbsp;&nbsp;Product&nbsp;&nbsp;&nbsp;&nbsp;** | <br>**Distribution** | **Reconciling**<br> **Items**<sup>(1)</sup> | <br>**&nbsp;&nbsp;&nbsp;&nbsp; Total&nbsp;&nbsp;&nbsp;&nbsp;**  |
| Net sales | $252870 | $53370 | $(19025) | $287215 |
| Cost of goods sold | 144327 | 41450 | (18942) | 166835 |
| &nbsp;&nbsp;Gross profit | $108543 | $11920 | $(83) | $120380 |

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six Months Ended June 30, 2024** | **Six Months Ended June 30, 2024** | **Six Months Ended June 30, 2024** | **Six Months Ended June 30, 2024** |
|  | <br>**&nbsp;&nbsp;&nbsp;&nbsp;Product&nbsp;&nbsp;&nbsp;&nbsp;** | <br>**Distribution** | **Reconciling**<br> **Items**<sup>(1)</sup> | <br>**&nbsp;&nbsp;&nbsp;&nbsp; Total&nbsp;&nbsp;&nbsp;&nbsp;**  |
| Net sales | $247218 | $53779 | $(18828) | $282169 |
| Cost of goods sold | 143385 | 41280 | (18774) | 165891 |
| &nbsp;&nbsp;Gross profit | $103833 | $12499 | $(54) | $116278 |

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&nbsp;&nbsp;&nbsp;&nbsp;(1) Reconciling items consist primarily of intercompany eliminations and items not directly attributable to operating segments.

------

#### CADRE HOLDINGS, INC.

#### RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
**(Unaudited)**

**(In thousands)**

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | | **Three Months Ended**  | **Three Months Ended**  | **Six Months Ended**  | **Six Months Ended**  | |
|  | | **June 30,**  | **June 30,**  | **June 30,** | **June 30,** | |
|  | **Year ended**<br>**December 31,** <br>**2024** | **2025** | **2024** | **2025** | **2024** | **Last Twelve**<br>**Months**<br>**June 30, 2025** |
| Net income | $36133 | $12211 | $12567 | $21459 | $19495 | $38097 |
| &nbsp;&nbsp;Add back: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 16420 | 4676 | 4620 | 8532 | 8562 | 16390 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest expense | 7822 | 3590 | 2003 | 5821 | 3640 | 10003 |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision for income taxes | 18085 | 4998 | 5047 | 8358 | 7017 | 19426 |
| **EBITDA** | $78460 | $25475 | $24237 | $44170 | $38714 | $83916 |
| &nbsp;&nbsp;Add back: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Restructuring and transaction costs<sup>(1)</sup> | 7757 | 4326 | 19 | 5024 | 4856 | 7925 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other expense (income), net<sup>(2)</sup> | 4721 | (6114) | 336 | (7401) | 1780 | (4460) |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation expense<sup>(3)</sup> | 8369 | 2425 | 2084 | 4393 | 4151 | 8611 |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation payroll tax expense<sup>(4)</sup> | 441 |  | 48 | 92 | 441 | 92 |
| &nbsp;&nbsp;&nbsp;&nbsp;LTIP bonus<sup>(5)</sup> | 49 |  | (1) |  | 49 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of inventory step-up<sup>(6)</sup> | 3858 | 356 | 1541 | 356 | 2310 | 1904 |
| &nbsp;&nbsp;&nbsp;&nbsp;Contingent consideration expense<sup>(7)</sup> | 1185 | 526 | 58 | 857 | 509 | 1533 |
| **Adjusted EBITDA** | $104840 | $26994 | $28322 | $47491 | $52810 | $99521 |
| **Adjusted EBITDA margin**<sup>(8)</sup> | **18.5%** | **17.2%** | **19.6%** | **16.5%** | **18.7%** |  |

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------

&nbsp;&nbsp;&nbsp;&nbsp;(1) Reflects the "Restructuring and transaction costs" line item on our consolidated statements of operations, which primarily includes transaction costs composed of legal and consulting fees. In addition, this line item reflects a $1.0 million fee paid to Kanders & Company, Inc. for services related to the acquisition of Zircaloy for the three and six months ended June 30, 2025 and a $1.8 million fee paid to Kanders & Company, Inc. for services related to the acquisition of Alpha Safety for the six months ended June 30, 2024, which are included in related party expense in the Company's condensed consolidated statements of operations.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Reflects the "Other income (expense), net" line item on our condensed consolidated statements of operations and primarily includes transaction gains and losses due to fluctuations in foreign currency exchange rates .

&nbsp;&nbsp;&nbsp;&nbsp;(3) Reflects compensation expense related to equity and liability classified stock-based compensation plans.

&nbsp;&nbsp;&nbsp;&nbsp;(4) Reflects payroll taxes associated with vested stock-based compensation awards.

&nbsp;&nbsp;&nbsp;&nbsp;(5) Reflects the cost of a cash-based long-term incentive plan awarded to employees that vests over three years.

&nbsp;&nbsp;&nbsp;&nbsp;(6) Reflects amortization expense related to the step-up inventory adjustment recorded as a result of our recent acquisitions.

&nbsp;&nbsp;&nbsp;&nbsp;(7) Reflects contingent consideration expense related to the acquisition of ICOR.

&nbsp;&nbsp;&nbsp;&nbsp;(8) Reflects Adjusted EBITDA / Net sales for the relevant periods.

------

## Exhibit 99.2

#### Exhibit 99.2

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| | |
|:---|:---|
| &nbsp;&nbsp;![GRAPHIC](cdre-20250805xex99d2g001.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECOND QUARTER 2025 |

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|:---|:---|
| &nbsp;&nbsp;![GRAPHIC](cdre-20250805xex99d2g002.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 FORWARD-LOOKING STATEMENTS Please note that in this presentation we may use words such as "appears," "anticipates," "believes," "plans," "expects," "intends," "future," and similar expressions which constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are made based on our expectations and beliefs concerning future events impacting the Company and therefore involve a number of risks and uncertainties. We caution that forward-looking statements are not guarantees and that actual results could differ materially from those expressed or implied in the forward-looking statements. Potential risks and uncertainties that could cause the actual results of operations or financial condition of the Company to differ materially from those expressed or implied by forward-looking statements in this presentation, include, but are not limited to those risks and uncertainties more fully described from time to time in the Company's public reports filed with the Securities and Exchange Commission, including under the section titled "Risk Factors" in the Company's Annual Report on Form 10-K, and/or Quarterly Reports on Form 10-Q, as well as in the Company's Current Reports on Form 8-K. All forward-looking statements included in this presentation are based upon information available to the Company as of the date of this presentation and speak only as of the date hereof. We assume no obligation to update any forward- looking statements to reflect events or circumstances after the date of this presentation. 2 |

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| | |
|:---|:---|
| &nbsp;&nbsp;![GRAPHIC](cdre-20250805xex99d2g003.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TODAY'S PRESENTERS 3 BRAD WILLIAMS President BLAINE BROWERS Chief Financial Officer WARREN KANDERS Chief Executive Officer and Chairman of the Board |

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| | |
|:---|:---|
| &nbsp;&nbsp;![GRAPHIC](cdre-20250805xex99d2g004.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 AGENDA • Q2 Highlights • Business Overview • Financial Summary • Full Year Outlook • Conclusion and Q&A |

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| | |
|:---|:---|
| &nbsp;&nbsp;![GRAPHIC](cdre-20250805xex99d2g005.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 CONTINUED EXECUTION IN Q2 Cadre continues to deliver on strategic objectives and capitalize on favorable market trends driving strong demand for mission-critical safety equipment Pricing Growth: ✓ Exceeded target Q2 Mix: - Neutral mix consistent with expectations Orders Backlog: ✓ Stable backlog, excluding new acquisition M&A Execution: ✓ Completed acquisition of multiple leading nuclear brands in April 2025 Healthy M&A Funnel: ✓ Continuing to actively evaluate pipeline of opportunities Returned Capital to Shareholders: ✓ Declared 15th consecutive quarterly dividend Commentary: |

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| | |
|:---|:---|
| &nbsp;&nbsp;![GRAPHIC](cdre-20250805xex99d2g006.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 LONG-TERM INDUSTRY TAILWINDS SUPPORTING SUSTAINABLE GROWTH OPPORTUNITY Public Safety Tailwinds Nuclear Safety Tailwinds Environmental Safety: Growing DoE environmental liability across multiple sites requiring remediation spend spanning 60+ years National Security: Expanding national defense programs drive consistent and growing demand Nuclear Energy: Increasing global demand for sustainable and clean energy driving investment in nuclear energy, including next gen reactors European leaders continue to advocate for significant increases in defense budgets Police protection expenditures have continued to trend upward even during previous financial and industrial recessions Major US cities continue to increase police budgets  |

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|:---|:---|
| &nbsp;&nbsp;![GRAPHIC](cdre-20250805xex99d2g007.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 • Current administration has demonstrated commitment to prioritizing public safety with significant investments in border patrol and ICE • Environments within conflict zones have not changed at this point to allow for unexploded ordnance cleanup • While overall consumer demand for handguns is down, our consumer holster demand has not followed the same trend due to strong brand and premium products • Successful new product launches over the past 24 months continue to provide customers with new options in the market North American Law Enforcement Geopolitical Landscape Consumer New Products/ Innovation LATEST MARKET TRENDS |

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| | |
|:---|:---|
| &nbsp;&nbsp;![GRAPHIC](cdre-20250805xex99d2g008.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 KEY M&A CRITERIA Business Financial Market Leading market position Cost structure where material > labor High cost of substitution Leading and defensible technology Mission - critical to customer Strong brand recognition Recurring revenue profile Asset - light Attractive ROIC Niche market No large - cap competition Resiliency through market cycles |

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|:---|:---|
| &nbsp;&nbsp;![GRAPHIC](cdre-20250805xex99d2g009.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 Source: Internal Company forecasts ACQUISITION OF CARR'S ENGINEERING DIVISION Deepens Exposure to the Nuclear Market, Strengthening Relationships with Key International Customers, and Providing an Entry Point to New Sub-Verticals including Commercial Nuclear and Nuclear Medicine OVERVIEW & STRATEGIC RATIONALE • Leading market position • High cost of substitution • Leading and defensible technology • Strong brand recognition • Attractive ROIC • Niche market • Resiliency thru market cycles CADRE'S KEY M&A CRITERIA MET • In April 2025 completed acquisition of Carr's Engineering division from Carr's Group plc for an enterprise value of £75 million • Set of leading, niche global brands providing products and engineering services for nuclear safety and protection, with additional focus on the rapidly growing nuclear medicine and nuclear fusion categories • Manufacturing and assembly facilities in the U.S., the U.K. and Germany • Expands the nuclear TAM through entry into international channel, and nuclear medicine and nuclear energy markets • £51 million in revenue for FY 2024 (ended August 31, 2024); EBITDA margin consistent with the lower bound of Cadre's operating model |

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|:---|:---|
| &nbsp;&nbsp;![GRAPHIC](cdre-20250805xex99d2g010.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 Q2 Financial Results |

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|:---|:---|
| &nbsp;&nbsp;![GRAPHIC](cdre-20250805xex99d2g011.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11 • Achieved pricing growth that exceeded target • Increased quarterly net sales 9% with gross margin that improved 30 bps y/y SECOND QUARTER 2025 HIGHLIGHTS Q2 2025 Q1 2025 Q2 2024 NET SALES $157.1M $130.1M $144.3M GROSS MARGIN 40.9% 43.1% 40.6% NET INCOME $12.2M / $0.30 per diluted share $9.2M / $0.23 per diluted share $12.6M / $0.31 per diluted share ADJUSTED EBITDA 1 $27.0M $20.5M $28.3M ADJUSTED EBITDA MARGIN 1 17.2% 15.8% 19.6% 1. A non-GAAP financial measure. See slide 21 for definitions and reconciliations to the nearest GAAP measures. |

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|:---|:---|
| &nbsp;&nbsp;![GRAPHIC](cdre-20250805xex99d2g012.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12 NET SALES AND ADJUSTED EBITDA NET SALES ($MM) $282.2M 2Q24 FY 2023 $482.5M 2023 2024 2025 FY 2024 $567.6M ADJ. EBITDA1 ($MM) $52.8M 2Q24 2023 2024 2025 FY 2025 Guidance Range $624M to $630M FY 2025 Guidance Range $112M to $116M % CAGR 14.0 % % Y/Y GROWTH 10.5% at guidance midpoint % CAGR 15.3% % Y/Y GROWTH 8.7% at guidance midpoint $287.2M 2Q25 $47.5M 2Q25 FY 2023 $85.8M FY 2024 $104.8M 1. A non-GAAP financial measure. See slide 21 for definitions and reconciliations to the nearest GAAP measures. |

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|:---|:---|
| &nbsp;&nbsp;![GRAPHIC](cdre-20250805xex99d2g013.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13 Q2 2025 CAPITAL STRUCTURE June 30, 2025 (in thousands) Cash and cash equivalents $137,469 Debt: Revolver $— Current portion of long-term debt 16,265 Long-term debt 300,961 Capitalized discount/issuance costs (2076) Total debt, net $315,150 Net debt (Total debt net of cash) $177,681 Total debt / Adj. EBITDA(1) 3.2 Net debt / Adj. EBITDA(1) 1.8 LTM Adj. EBITDA(1) $99,521 1. A non-GAAP financial measure. See slide 21 for definitions and reconciliations to the nearest GAAP measures. |

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|:---|:---|
| &nbsp;&nbsp;![GRAPHIC](cdre-20250805xex99d2g014.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14 2025 MANAGEMENT OUTLOOK • Revised midpoints versus prior forecast reflect updated expectations around the timing of orders • Ranges do not incorporate impact of new tariffs announced July 31 and expected to be effective in August 2025 2025 GUIDANCE NET SALES $624M to $630M ADJ. EBITDA $112M to $116M CAPITAL EXPENDITURES $7M to $8M 1. A non-GAAP financial measure. See slide 21 for definitions and reconciliations to the nearest GAAP measures. |

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|:---|:---|
| &nbsp;&nbsp;![GRAPHIC](cdre-20250805xex99d2g015.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CONCLUSION 15 Execution in line with strategic objectives in Q2 Ongoing implementation of Cadre operating model Committed to improving gross and Adj. EBITDA margins Capitalizing on strong macro tailwinds driving demand and visibility for Cadre's mission-critical products Continuously focused on M&A opportunities |

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|:---|:---|
| &nbsp;&nbsp;![GRAPHIC](cdre-20250805xex99d2g016.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16 APPENDIX |

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| | |
|:---|:---|
| &nbsp;&nbsp;![GRAPHIC](cdre-20250805xex99d2g017.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17 BALANCE SHEET UNAUDITED (IN THOUSANDS, EXCEPT SHARE AND PER SHARE AMOUNTS) June 30, 2025 December 31, 2024 Assets Current assets Cash and cash equivalents $137,469 $124,933 Accounts receivable, net of allowance for doubtful accounts of $905 and $876, respectively 108,127 93,523 Inventories 109,604 82,351 Prepaid expenses 11,836 19,027 Other current assets 13,980 7,737 Total current assets 381,016 327,571 Property and equipment, net of accumulated depreciation and amortization of $58,658 and $54,384, respectively 81,909 45,243 Operating lease assets 21,314 15,454 Deferred tax assets, net 4,917 4,552 Intangible assets, net 126,411 107,544 Goodwill 174,462 148,157 Other assets 4,408 4,192 Total assets $794,437 $652,713 Liabilities, Mezzanine Equity and Shareholders' Equity Current liabilities Accounts payable $32,004 $29,644 Accrued liabilities 56,531 46,413 Income tax payable 1,268 6,693 Current portion of long-term debt 16,265 11,375 Total current liabilities 106,068 94,125 Long-term debt 298,885 211,830 Long-term operating lease liabilities 15,645 10,733 Deferred tax liabilities 30,306 18,758 Other liabilities 11,073 5,752 Total liabilities 461,977 341,198 Mezzanine equity Preferred stock ($0.0001 par value, 10,000,000 shares authorized, no shares issued and outstanding as of June 30, 2025 and December 31, 2024) — — Shareholders' equity Common stock ($0.0001 par value, 190,000,000 shares authorized, 40,663,844 and 40,607,988 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively) 4 4 Additional paid-in capital 310,099 306,821 Accumulated other comprehensive income (loss) 2,540 (1389) Accumulated earnings 19,817 6,079 Total shareholders' equity 332,460 311,515 Total liabilities, mezzanine equity and shareholders' equity $794,437 $652,713 |

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| | |
|:---|:---|
| &nbsp;&nbsp;![GRAPHIC](cdre-20250805xex99d2g018.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18 UNAUDITED (IN THOUSANDS, EXCEPT SHARE AND PER SHARE AMOUNTS) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Net sales $157,109 $144,309 $287,215 $282,169 Cost of goods sold 92,860 85,659 166,835 165,891 Gross profit 64,249 58,650 120,380 116,278 Operating expenses Selling, general and administrative 45,129 38,577 86,882 79,296 Restructuring and transaction costs 3,326 19 4,024 3,106 Related party expense 1,109 101 1,237 1,944 Total operating expenses 49,564 38,697 92,143 84,346 Operating income 14,685 19,953 28,237 31,932 Other expense Interest expense (3590) (2003) (5821) (3640) Other income (expense), net 6,114 (336) 7,401 (1780) Total other expense, net 2,524 (2339) 1,580 (5420) Income before provision for income taxes 17,209 17,614 29,817 26,512 Provision for income taxes (4998) (5047) (8358) (7017) Net income $12,211 $12,567 $21,459 $19,495 Net income per share: Basic $0.30 $0.31 $0.53 $0.50 Diluted $0.30 $0.31 $0.52 $0.49 Weighted average shares outstanding: Basic 40,661,955 40,606,825 40,640,433 39,276,700 Diluted 40,941,790 40,855,185 40,960,025 39,701,754 STATEMENT OF OPERATIONS |

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| | |
|:---|:---|
| &nbsp;&nbsp;![GRAPHIC](cdre-20250805xex99d2g019.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19 UNAUDITED (IN THOUSANDS) Continued on next slide Six Months Ended June 30, 2025 2024 Cash Flows From Operating Activities: Net income $21,459 $19,495 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 8,532 8,562 Amortization of original issue discount and debt issue costs 829 502 Amortization of inventory step-up 356 2,310 Deferred income taxes 266 (1915) Stock-based compensation 4,393 4,151 Remeasurement of contingent consideration 857 509 Provision for losses on accounts receivable 40 769 Unrealized foreign exchange transaction (gain) loss (3492) 971 Other loss 152 251 Changes in operating assets and liabilities, net of impact of acquisitions: Accounts receivable 10,365 (3387) Inventories (11304) 2,355 Prepaid expenses and other assets 3,375 705 Accounts payable and other liabilities (15849) (21998) Net cash provided by operating activities 19,979 13,280 Cash Flows From Investing Activities: Purchase of property and equipment (2733) (3365) Proceeds from disposition of property and equipment 6 49 Business acquisitions, net of cash acquired (89590) (141813) Net cash used in investing activities (92317) (145129) STATEMENT OF CASH FLOWS |

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| | |
|:---|:---|
| &nbsp;&nbsp;![GRAPHIC](cdre-20250805xex99d2g020.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 UNAUDITED (IN THOUSANDS) Six Months Ended June 30, 2025 2024 Cash Flows From Financing Activities: Proceeds from revolving credit facilities — 5,500 Principal payments on revolving credit facilities — (5500) Proceeds from term loans 97,500 80,000 Principal payments on term loans (5689) (6065) Principal payments on insurance premium financing — (2187) Payments for debt issuance costs — (844) Taxes paid in connection with employee stock transactions (1185) (5311) Proceeds from secondary offering, net of underwriter discounts — 91,776 Deferred offering costs — (683) Dividends distributed (7721) (6842) Other 38 37 Net cash provided by financing activities 82,943 149,881 Effect of foreign exchange rates on cash and cash equivalents 1,931 180 Change in cash and cash equivalents 12,536 18,212 Cash and cash equivalents, beginning of period 124,933 87,691 Cash and cash equivalents, end of period $137,469 $105,903 Supplemental Disclosure of Cash Flows Information: Cash paid for income taxes, net $16,937 $21,605 Cash paid for interest $8,202 $6,458 Supplemental Disclosure of Non-Cash Investing and Financing Activities: Accruals and accounts payable for capital expenditures $259 $58 STATEMENT OF CASH FLOWS – CONTINUED |

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|:---|:---|
| &nbsp;&nbsp;![GRAPHIC](cdre-20250805xex99d2g021.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21 1. Reflects the "Restructuring and transaction costs" line item on our consolidated statements of operations, which primarily includes transaction costs composed of legal and consulting fees. In addition, this line item reflects a $1.0 million fee paid to Kanders & Company, Inc. for services related to the acquisition of Zircaloy for the three and six months ended June 30, 2025 and a $1.8 million fee paid to Kanders & Company, Inc. for services related to the acquisition of Alpha Safety for the six months ended June 30, 2024, which are included in related party expense in the Company's condensed consolidated statements of operations. 2. Reflects the "Other income (expense), net" line item on our condensed consolidated statements of operations and primarily includes transaction gains and losses due to fluctuations in foreign currency exchange rates. 3. Reflects compensation expense related to equity and liability classified stock-based compensation plans. 4. Reflects payroll taxes associated with vested stock-based compensation awards. 5. Reflects the cost of a cash-based long-term incentive plan awarded to employees that vests over three years. 6. Reflects amortization expense related to the step-up inventory adjustment recorded as a result of our recent acquisitions. 7. Reflects contingent consideration expense related to the acquisition of ICOR. 8. Reflects Adjusted EBITDA / Net sales for the relevant periods. 21 (IN THOUSANDS) NON-GAAP RECONCILIATION Year ended Three Months Three Months Ended Six Months Ended Last Twelve December 31, Ended March 31, June 30, June 30, Months 2024 2025 2025 2024 2025 2024 June 30, 2025 Net income $36,133 $9,248 $12,211 $12,567 $21,459 $19,495 $38,097 Add back: Depreciation and amortization 16,420 3,856 4,676 4,620 8,532 8,562 16,390 Interest expense 7,822 2,231 3,590 2,003 5,821 3,640 10,003 Provision for income taxes 18,085 3,360 4,998 5,047 8,358 7,017 19,426 EBITDA $78,460 $18,695 $25,475 $24,237 $44,170 $38,714 $83,916 Add back: Restructuring and transaction costs(1) 7,757 698 4,326 19 5,024 4,856 7,925 Other expense (income), net(2) 4,721 (1287) (6114) 336 (7401) 1,780 (4460) Stock-based compensation expense(3) 8,369 1,968 2,425 2,084 4,393 4,151 8,611 Stock-based compensation payroll tax expense(4) 441 92 — 48 92 441 92 LTIP bonus(5) 49 — — (1) — 49 — Amortization of inventory step-up(6) 3,858 — 356 1,541 356 2,310 1,904 Contingent consideration expense(7) 1,185 331 526 58 857 509 1,533 Adjusted EBITDA $104,840 $20,497 $26,994 $28,322 $47,491 $52,810 $99,521 Adjusted EBITDA margin(8) 18.5 % 15.8 % 17.2 % 19.6 % 16.5 % 18.7% |

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| &nbsp;&nbsp;![GRAPHIC](cdre-20250805xex99d2g022.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22 The Company reports its financial results in accordance with U.S. generally accepted accounting principles ("GAAP"). The presentation contains the non-GAAP measures: (i) earnings before interest, taxes, other income or expense, depreciation and amortization ("EBITDA"), (ii) adjusted EBITDA and (iii) adjusted EBITDA margin and (iv) last twelve months adjusted EBITDA. The Company believes the presentation of these non-GAAP measures provides useful information for the understanding of its ongoing operations and enables investors to focus on period-over-period operating performance, and thereby enhances the user's overall understanding of the Company's current financial performance relative to past performance and provides, along with the nearest GAAP measures, a baseline for modeling future earnings expectations. Non-GAAP measures are reconciled to comparable GAAP financial measures within this presentation. We do not provide a reconciliation of the non-GAAP guidance measure Adjusted EBITDA for the fiscal year 2025 to net income for the fiscal year 2025, the most comparable GAAP financial measure, due to the inherent difficulty of forecasting certain types of expenses and gains, without unreasonable effort, which affect net income but not Adjusted EBITDA. The Company cautions that non-GAAP measures should be considered in addition to, but not as a substitute for, the Company's reported GAAP results. Additionally, the Company notes that there can be no assurance that the above referenced non-GAAP financial measures are comparable to similarly titled financial measures used by other publicly traded companies. USE OF NON-GAAP MEASURES |

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