# EDGAR Filing Document

**Accession Number:** 0000034067
**File Stem:** 0000034067-26-000035
**Filing Date:** 2026-4
**Character Count:** 40239
**Document Hash:** fc5b379e11ad06d5324edd0d30491644
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000034067-26-000035.hdr.sgml**: 20260430

**ACCESSION NUMBER**: 0000034067-26-000035

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20260430

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

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260430

**DATE AS OF CHANGE**: 20260430

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DMC Global Inc.
- **CENTRAL INDEX KEY:** 0000034067
- **STANDARD INDUSTRIAL CLASSIFICATION:** MISCELLANEOUS PRIMARY METAL PRODUCTS [3390]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 840608431
- **STATE OF INCORPORATION:** CO
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-14775
- **FILM NUMBER:** 26925168

**BUSINESS ADDRESS:**
- **STREET 1:** 11800 RIDGE PARKWAY
- **STREET 2:** SUITE 300
- **CITY:** BROOMFIELD
- **STATE:** CO
- **ZIP:** 80021
- **BUSINESS PHONE:** 3036655700

**MAIL ADDRESS:**
- **STREET 1:** 11800 RIDGE PARKWAY
- **STREET 2:** SUITE 300
- **CITY:** BROOMFIELD
- **STATE:** CO
- **ZIP:** 80021

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DYNAMIC MATERIALS CORP
- **DATE OF NAME CHANGE:** 19941205

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** EXPLOSIVE FABRICATORS INC
- **DATE OF NAME CHANGE:** 19920703

?xml version='1.0' encoding='ASCII'? boom-20260430

**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): April 30, 2026

**DMC Global Inc.**

(Exact Name of Registrant as Specified in its Charter)

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-14775** | **84-0608431** |
| (State or Other Jurisdiction of<br>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 □

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&nbsp;&nbsp;&nbsp;&nbsp;Results of Operations and Financial Condition**

On April 30, 2026, DMC Global Inc., a Delaware corporation (the "Company"), issued a press release announcing its financial results for the quarter ended March 31, 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 &nbsp;&nbsp;&nbsp;&nbsp;Financial Statements and Exhibits.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exhibits.

---

| | |
|:---|:---|
| **Exhibit Number** | **Description** |
| [99.1](boom-exx991_2026q1.htm) | <u>[Press Release, dated April 30, 2026.](boom-exx991_2026q1.htm)</u> |
| 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. | DMC Global Inc. |
| Dated: | April 30, 2026 | By: | /s/ Eric V. Walter |
|  |  |  | Name: Eric V. Walter |
|  |  |  | Title: Chief Financial Officer |

---

## Exhibit 99.1

![imagea.jpg](imagea.jpg)

**EXHIBIT 99.1**

---

| | |
|:---|:---|
| **FOR IMMEDIATE RELEASE:** | **CONTACT:** |
| | Geoff High, Vice President of Investor Relations |
| | 303-604-3924 |

---

**DMC GLOBAL REPORTS FIRST QUARTER FINANCIAL RESULTS**

**BROOMFIELD**, Colo. - April 30, 2026 - DMC Global Inc. (Nasdaq: BOOM) today reported financial results for its first quarter ended March 31, 2026.

DMC's businesses continued to navigate a broad range of macroeconomic challenges across the Company's construction, energy and industrial infrastructure markets. Despite these headwinds, DMC delivered financial results that were within management's expectations. First quarter consolidated sales were $135.6 million, down 15% from the 2025 first quarter and down 6% sequentially. Adjusted EBITDA attributable to DMC was $3.9 million versus $14.4 million in last year's first quarter, and negative ($1.6) million in the fourth quarter. The conflict in the Middle East has impacted each of the Company's markets, as supply chain issues, international oil production disruptions, and higher raw material prices – notably aluminum – created significant challenges.

Arcadia Products, DMC's architectural building products business, reported first quarter sales of $56.7 million, flat sequentially and down 14% from last year's first quarter, which benefited from a large project in southern California. Sharply higher aluminum prices and elevated interest rates continued to result in soft demand across Arcadia's commercial and residential end markets. With fewer project opportunities available, the bidding environment remained highly competitive and pricing pressure persisted. Average aluminum costs reached multi-year highs during the first quarter, increasing 64% year over year and 16% sequentially. First quarter adjusted EBITDA attributable to DMC was $2.3 million, down from $5.6 million in the 2025 first quarter and $2.4 million in the prior quarter.

DynaEnergetics reported first quarter sales of $59.5 million, down 9% year over year and down 14% sequentially. The declines primarily reflect lower unit sales, a further reduction in well completion activity and a highly competitive pricing environment in DynaEnergetics' core North American market. Sales were also impacted by delayed product shipments into the Middle East due to the conflict in Iran. Adjusted EBITDA was $2.7 million versus $7.4 million in the 2025 first quarter and negative ($2.7) million in the prior quarter, which was impacted by approximately $7 million in discrete accounts receivable and inventory write-offs. The year-over-year decline in adjusted EBITDA was primarily driven by the imposition of tariffs in April 2025.

At NobelClad, DMC's composite metals business, first quarter sales were $19.3 million, down 31% versus last year's first quarter, but up 9% sequentially. The year-over-year decline reflects the impact of shipments on a large China-based project in last year's first quarter, as well as reduced bookings during the first half of 2025, when uncertainty associated with rapidly evolving U.S. and reciprocal tariff policies slowed global project activity. The sequential increase was driven by initial deliveries on a record-setting international petrochemical project, with additional shipments expected throughout the remainder of the year. Adjusted EBITDA was $1.9 million, down from $5.4 million in the year-ago first quarter and $2.1 million in the previous quarter. NobelClad ended the first quarter with an order backlog of $70.3 million, up 12% from the end of the 2025 fourth quarter and the highest level in more than 15 years.

------

![imagea.jpg](imagea.jpg)

"DMC's businesses are operating in a highly challenged environment that was further impacted by geopolitical developments during the first quarter," said James O'Leary, president and CEO. "Despite these challenges, our teams delivered results consistent with our expectations. As we remain focused on disciplined execution and cost management, we are also pursuing opportunities in existing and adjacent markets, most notably the enhanced geothermal sector. Finally, I'd like to thank our associates for their continued dedication and focus in a difficult operating environment."

**Guidance**

Second quarter sales are expected to be in a range of $148 million to $158 million, with adjusted EBITDA attributable to DMC anticipated in a range of $6 million to $8 million. The expected sequential improvements reflect anticipated demand growth at each of DMC's businesses. DynaEnergetics expects higher order activity in both international and North American markets, while Arcadia anticipates a modest sequential increase in activity following a seasonally soft first quarter. NobelClad expects increased shipments related to a large international petrochemical order. DMC's second quarter guidance does not contemplate increased disruptions in international supply chains, which could delay shipments by DynaEnergetics into the Middle East, impact the delivery of raw materials and customer orders at NobelClad, and further drive-up aluminum input costs at Arcadia.

Management noted that several factors across DMC's end markets point to potential demand improvement over the next several quarters. Multiple large oilfield service companies have indicated that the conflict in the Middle East may have lasting implications for higher oil prices, supporting increased well completion activity and full project calendars in North America. In addition, growing interest in enhanced geothermal applications—leveraging well completion technologies developed by the oil and gas industry—could represent a long-term opportunity for DynaEnergetics. At $70.3 million, NobelClad's order backlog is at its highest level in more than 15 years. The business is also monitoring several positive leading indicators, including expected increases in U.S. Navy spending on enhanced naval readiness, and industrial infrastructure repair and reconstruction in the Middle East. A key leading indicator for Arcadia is the Architectural Billings Index (ABI). In March 2026, the ABI for Arcadia's core western U.S. market rose above 50 for the first time since December 2024, indicating that more firms are reporting increased billings than those reporting declining billings.

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 First Quarter Results**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | Three months ended | Three months ended | Three months ended | Change | Change |
| | Mar 31, 2026 | Dec 31, 2025 | Mar 31, 2025 | Sequential | Year-on-year |
| Net sales | $135595 | $143531 | $159290 | (6)% | (15)% |
| Gross profit percentage | 18.8% | 17.1% | 25.9% |  |  |
| SG&A | $24604 | $29645 | $28300 | (17)% | (13)% |
| Net (loss) income | $(6810) | $(11859) | $1863 | (43)% | 466% |
| Net (loss) income attributable to DMC | $(6065) | $(11164) | $677 | (46)% | 996% |
| Diluted net (loss) income per share attributable to DMC | $(0.34) | $(0.59) | $0.04 | (42)% | 950% |
| Adjusted net (loss) income attributable to DMC | $(5697) | $(9948) | $2170 | (43)% | 363% |
| Adjusted diluted net (loss) income per share | $(0.28) | $(0.50) | $0.11 | (44)% | 355% |
| Adjusted EBITDA attributable to DMC | $3895 | $(1551) | $14391 | 351% | (73)% |
| Adjusted EBITDA before NCI allocation | $5456 | $61 | $18122 | 8844% | (70)% |
| Adjusted EBITDA before NCI allocation margin | 4.0% | —% | 11.4% |  |  |

---

------

![imagea.jpg](imagea.jpg)

***Arcadia Products***

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | Three months ended | Three months ended | Three months ended | Change | Change |
| | Mar 31, 2026 | Dec 31, 2025 | Mar 31, 2025 | Sequential | Year-on-year |
| Net sales | $56706 | $56987 | $65580 | —% | (14)% |
| Gross profit percentage | 24.1% | 21.7% | 31.0% |  |  |
| Adjusted EBITDA attributable to DMC | $2341 | $2419 | $5596 | (3)% | (58)% |
| Adjusted EBITDA before NCI allocation | $3902 | $4031 | $9327 | (3)% | (58)% |
| Adjusted EBITDA before NCI allocation margin | 6.9% | 7.1% | 14.2% |  |  |

---

***DynaEnergetics***

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | Three months ended | Three months ended | Three months ended | Change | Change |
| | Mar 31, 2026 | Dec 31, 2025 | Mar 31, 2025 | Sequential | Year-on-year |
| Net sales | $59547 | $68855 | $65551 | (14)% | (9)% |
| Gross profit percentage | 12.6% | 10.7% | 19.5% |  |  |
| Adjusted EBITDA | $2746 | $(2740) | $7379 | 200% | (63)% |
| Adjusted EBITDA margin | 4.6% | (4.0)% | 11.3% |  |  |

---

***NobelClad***

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | Three months ended | Three months ended | Three months ended | Change | Change |
| | Mar 31, 2026 | Dec 31, 2025 | Mar 31, 2025 | Sequential | Year-on-year |
| Net sales | $19342 | $17689 | $28159 | 9% | (31)% |
| Gross profit percentage | 22.6% | 27.4% | 28.8% |  |  |
| Adjusted EBITDA | $1893 | $2102 | $5416 | (10)% | (65)% |
| Adjusted EBITDA margin | 9.8% | 11.9% | 19.2% |  |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• NobelClad's rolling 12-month bookings were $113.1 million, and the 12-month book-to-bill ratio was 1.34.*

**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=bHcTbFnv

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:

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **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).

------

![imagea.jpg](imagea.jpg)

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **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 second 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/.

###

------

![imagea.jpg](imagea.jpg)

**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 second quarter 2026 guidance on sales and adjusted EBITDA attributable to DMC; the expected timing of shipments on NobelClad's record-setting petrochemical order; anticipated demand growth during the second quarter and potentially longer term at each of DMC's businesses; an expected increase in order activity in both international and North American markets at DynaEnergetics due to potential increased well completion activity; the prospect that growing interest in Enhanced Geothermal Systems could represent a long-term opportunity for DynaEnergetics; modest sequential increase in activity at Arcadia; and the potential benefits to NobelClad of expected increases in U.S. Navy spending on enhanced naval readiness, and industrial infrastructure repair and reconstruction in the Middle East. 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.

------

<u>DMC GLOBAL INC.</u>

<u>CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS</u>

<u>(Amounts in Thousands, Except Share and Per Share Data)</u>

<u>(unaudited)</u>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | Three months ended | Three months ended | Three months ended | Change | Change |
| | Mar 31, 2026 | Dec 31, 2025 | Mar 31, 2025 | Sequential | Year-on-year |
| NET SALES | $135595 | $143531 | $159290 | (6)% | (15)% |
| COST OF PRODUCTS SOLD | 110152 | 119037 | 118091 | (7)% | (7)% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gross profit | 25443 | 24494 | 41199 | 4% | (38)% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gross profit percentage | 18.8% | 17.1% | 25.9% |  |  |
| COSTS AND EXPENSES: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;General and administrative expenses | 14132 | 13391 | 16674 | 6% | (15)% |
| &nbsp;&nbsp;&nbsp;Selling and distribution expenses | 10472 | 16254 | 11626 | (36)% | (10)% |
| &nbsp;&nbsp;&nbsp;Amortization of purchased intangible assets | 4356 | 4763 | 4763 | (9)% | (9)% |
| &nbsp;&nbsp;&nbsp;Strategic review and related expenses |  | 314 | 1298 | (100)% | (100)% |
| &nbsp;&nbsp;&nbsp;Restructuring expenses and asset impairments | 566 | 902 | 325 | (37)% | 74% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total costs and expenses | 29526 | 35624 | 34686 | (17)% | (15)% |
| OPERATING (LOSS) INCOME | (4083) | (11130) | 6513 | (63)% | 163% |
| OTHER EXPENSE: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Other expense, net | (45) | (178) | (218) | (75)% | (79)% |
| &nbsp;&nbsp;&nbsp;Interest expense, net | (1461) | (1351) | (1699) | 8% | (14)% |
| (LOSS) INCOME BEFORE INCOME TAXES | (5589) | (12659) | 4596 | (56)% | 222% |
| INCOME TAX PROVISION (BENEFIT) | 1221 | (800) | 2733 | 253% | (55)% |
| NET (LOSS) INCOME | (6810) | (11859) | 1863 | (43)% | 466% |
| Less: Net (loss) income attributable to redeemable noncontrolling interest | (745) | (695) | 1186 | 7% | 163% |
| NET (LOSS) INCOME ATTRIBUTABLE TO DMC GLOBAL INC. STOCKHOLDERS | $(6065) | $(11164) | $677 | (46)% | 996% |
| NET (LOSS) INCOME PER SHARE ATTRIBUTABLE TO DMC GLOBAL INC. STOCKHOLDERS | NET (LOSS) INCOME PER SHARE ATTRIBUTABLE TO DMC GLOBAL INC. STOCKHOLDERS |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic | $(0.34) | $(0.59) | $0.04 | (42)% | 950% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diluted | $(0.34) | $(0.59) | $0.04 | (42)% | 950% |
| WEIGHTED AVERAGE SHARES OUTSTANDING: | WEIGHTED AVERAGE SHARES OUTSTANDING: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic | 20066158 | 19998353 | 19812161 | —% | 1% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diluted | 20066158 | 19998353 | 19816281 | —% | 1% |

---

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

---

| | | | |
|:---|:---|:---|:---|
| | Three months ended | Three months ended | Three months ended |
| | Mar 31, 2026 | Dec 31, 2025 | Mar 31, 2025 |
| Net (loss) income attributable to DMC Global Inc. stockholders | $(6065) | $(11164) | $677 |
| Adjustment of redeemable noncontrolling interest | (735) | (638) | 81 |
| Net (loss) income attributable to DMC Global Inc. stockholders after adjustment of redeemable noncontrolling interest | $(6800) | $(11802) | $758 |

---

------

<u>DMC GLOBAL INC.</u>

<u>SEGMENT STATEMENTS OF OPERATIONS</u>

<u>(Amounts in Thousands)</u>

<u>(unaudited)</u>

**Arcadia Products**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | Three months ended | Three months ended | Three months ended | Change | Change |
| | Mar 31, 2026 | Dec 31, 2025 | Mar 31, 2025 | Sequential | Year-on-year |
| Net sales | $56706 | $56987 | $65580 | —% | (14)% |
| Gross profit | 13665 | 12340 | 20361 | 11% | (33)% |
| Gross profit percentage | 24.1% | 21.7% | 31.0% |  |  |
| COSTS AND EXPENSES: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;General and administrative expenses | 6431 | 5224 | 7459 | 23% | (14)% |
| &nbsp;&nbsp;&nbsp;Selling and distribution expenses | 4385 | 4244 | 4818 | 3% | (9)% |
| &nbsp;&nbsp;&nbsp;Amortization of purchased intangible assets | 4356 | 4763 | 4763 | (9)% | (9)% |
| &nbsp;&nbsp;&nbsp;Restructuring expenses | 495 |  | 325 | 100% | 52% |
| Operating (loss) income | (2002) | (1891) | 2996 | 6% | 167% |
| Adjusted EBITDA | 3902 | 4031 | 9327 | (3)% | (58)% |
| Less: adjusted EBITDA attributable to redeemable noncontrolling interest | (1561) | (1612) | (3731) | (3)% | (58)% |
| Adjusted EBITDA attributable to DMC Global Inc. | $2341 | $2419 | $5596 | (3)% | (58)% |

---

**DynaEnergetics**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | Three months ended | Three months ended | Three months ended | Change | Change |
| | Mar 31, 2026 | Dec 31, 2025 | Mar 31, 2025 | Sequential | Year-on-year |
| Net sales | $59547 | $68855 | $65551 | (14)% | (9)% |
| Gross profit | 7505 | 7377 | 12811 | 2% | (41)% |
| Gross profit percentage | 12.6% | 10.7% | 19.5% |  |  |
| COSTS AND EXPENSES: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;General and administrative expenses | 2640 | 2560 | 2747 | 3% | (4)% |
| &nbsp;&nbsp;&nbsp;Selling and distribution expenses | 3882 | 9443 | 4476 | (59)% | (13)% |
| &nbsp;&nbsp;&nbsp;Restructuring expenses | 71 |  |  | 100% | 100% |
| Operating income (loss) | 912 | (4626) | 5588 | 120% | (84)% |
| Adjusted EBITDA | $2746 | $(2740) | $7379 | 200% | (63)% |

---

**NobelClad**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | Three months ended | Three months ended | Three months ended | Change | Change |
| | Mar 31, 2026 | Dec 31, 2025 | Mar 31, 2025 | Sequential | Year-on-year |
| Net sales | $19342 | $17689 | $28159 | 9% | (31)% |
| Gross profit | 4377 | 4843 | 8097 | (10)% | (46)% |
| Gross profit percentage | 22.6% | 27.4% | 28.8% |  |  |
| COSTS AND EXPENSES: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;General and administrative expenses | 1168 | 1050 | 1192 | 11% | (2)% |
| &nbsp;&nbsp;&nbsp;Selling and distribution expenses | 2157 | 2514 | 2283 | (14)% | (6)% |
| Operating income | 1052 | 1279 | 4622 | (18)% | (77)% |
| Adjusted EBITDA | $1893 | $2102 | $5416 | (10)% | (65)% |

---

------

<u>DMC GLOBAL INC.</u>

<u>CONDENSED CONSOLIDATED BALANCE SHEETS</u>

(Amounts in Thousands)

---

| | | | |
|:---|:---|:---|:---|
| | | | Change |
| | Mar 31, 2026 | Dec 31, 2025 | Year-end |
| | (unaudited) | | |
| <u>ASSETS</u> |  |  |  |
| Cash and cash equivalents | $31511 | $31898 | (1)% |
| Accounts receivable, net | 90861 | 93697 | (3)% |
| Inventories | 167002 | 144552 | 16% |
| Prepaid expenses and other | 12210 | 16224 | (25)% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 301584 | 286371 | 5% |
| Property, plant and equipment, net | 124407 | 127358 | (2)% |
| Purchased intangible assets, net | 150695 | 155051 | (3)% |
| Other long-term assets | 71723 | 67051 | 7% |
| Total assets | $648409 | $635831 | 2% |
| <u>LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST, AND STOCKHOLDERS' EQUITY</u> | <u>LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST, AND STOCKHOLDERS' EQUITY</u> | <u>LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST, AND STOCKHOLDERS' EQUITY</u> |  |
| Accounts payable | $58386 | $48188 | 21% |
| Contract liabilities | 27048 | 22568 | 20% |
| Accrued income taxes | 2087 | 4289 | (51)% |
| Current portion of long-term debt | 3750 | 3438 | 9% |
| Other current liabilities | 34690 | 35842 | (3)% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 125961 | 114325 | 10% |
| Long-term debt | 50204 | 47206 | 6% |
| Deferred tax liabilities | 117 | 475 | (75)% |
| Other long-term liabilities | 49852 | 44695 | 12% |
| Redeemable noncontrolling interest | 187080 | 187080 | —% |
| Stockholders' equity | 235195 | 242050 | (3)% |
| Total liabilities, redeemable noncontrolling interest, and stockholders' equity | $648409 | $635831 | 2% |

---

------

<u>DMC GLOBAL INC.</u>

<u>CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS</u>

<u>(Amounts in Thousands)</u>

<u>(unaudited)</u>

---

| | | | |
|:---|:---|:---|:---|
| | Three months ended | Three months ended | Three months ended |
| | Mar 31, 2026 | Dec 31, 2025 | Mar 31, 2025 |
| CASH FLOWS FROM OPERATING ACTIVITIES: | CASH FLOWS FROM OPERATING ACTIVITIES: |  |  |
| &nbsp;&nbsp;&nbsp;Net (loss) income | $(6810) | $(11859) | $1863 |
| &nbsp;&nbsp;Adjustments to reconcile net (loss) income to net cash from operating activities: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation | 3715 | 3804 | 3660 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization of purchased intangible assets | 4356 | 4763 | 4763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization of deferred debt issuance costs | 231 | 261 | 217 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation | 863 | 1166 | 1599 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bad debt expense | 61 | 5058 | 706 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred income taxes | (339) | 238 | 22 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset impairments |  | 785 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other, net | (119) | (365) | 555 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in working capital, net | (4337) | 11343 | (8897) |
| &nbsp;&nbsp;&nbsp;Net cash (used in) provided by operating activities | (2379) | 15194 | 4488 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |
| &nbsp;&nbsp;&nbsp;Acquisition of property, plant and equipment | (2110) | (5560) | (3779) |
| &nbsp;&nbsp;&nbsp;Proceeds from property, plant and equipment reimbursements | 847 | 2043 | 426 |
| &nbsp;&nbsp;&nbsp;Proceeds on sale of property, plant and equipment |  |  | 21 |
| &nbsp;&nbsp;&nbsp;Net cash used in investing activities | (1263) | (3517) | (3332) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |
| &nbsp;&nbsp;&nbsp;Repayments on term loan | (625) | (625) | (625) |
| &nbsp;&nbsp;&nbsp;Borrowings on revolving loans | 58600 | 46965 | 8500 |
| &nbsp;&nbsp;&nbsp;Repayments on revolving loans | (54775) | (52340) | (6375) |
| &nbsp;&nbsp;&nbsp;Distributions to redeemable noncontrolling interest holder |  |  | (1151) |
| &nbsp;&nbsp;&nbsp;Treasury stock purchases | (367) | (587) | (484) |
| &nbsp;&nbsp;&nbsp;Net cash provided by (used in) financing activities | 2833 | (6587) | (135) |
| EFFECTS OF EXCHANGE RATES ON CASH | 422 | 396 | (605) |
| NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | (387) | 5486 | 416 |
| CASH AND CASH EQUIVALENTS, beginning of the period | 31898 | 26412 | 14289 |
| CASH AND CASH EQUIVALENTS, end of the period | $31511 | $31898 | $14705 |

---

------

<u>DMC GLOBAL INC.</u>

<u>RECONCILIATIONS OF NON-GAAP FINANCIAL MEASUREMENTS TO MOST</u>

<u>DIRECTLY COMPARABLE GAAP FINANCIAL MEASUREMENTS</u>

<u>(Amounts in Thousands)</u>

<u>(unaudited)</u>

**DMC Global**

<u>EBITDA and Adjusted EBITDA</u>

---

| | | | |
|:---|:---|:---|:---|
| | Three months ended | Three months ended | Three months ended |
| | Mar 31, 2026 | Dec 31, 2025 | Mar 31, 2025 |
| Net (loss) income | (6810) | (11859) | 1863 |
| Interest expense, net | 1461 | 1351 | 1699 |
| Income tax provision (benefit) | 1221 | (800) | 2733 |
| Depreciation | 3715 | 3804 | 3660 |
| Amortization of purchased intangible assets | 4356 | 4763 | 4763 |
| EBITDA | 3943 | (2741) | 14718 |
| Stock-based compensation | 902 | 1408 | 1563 |
| Strategic review and related expenses |  | 314 | 1298 |
| Restructuring expenses and asset impairments | 566 | 902 | 325 |
| Other expense, net | 45 | 178 | 218 |
| Adjusted EBITDA | $5456 | $61 | $18122 |
| Less: adjusted EBITDA attributable to redeemable noncontrolling interest | (1561) | (1612) | (3731) |
| Adjusted EBITDA attributable to DMC Global Inc. | $3895 | $(1551) | $14391 |

---

------

<u>DMC GLOBAL INC.</u>

<u>RECONCILIATIONS OF NON-GAAP FINANCIAL MEASUREMENTS TO MOST</u>

<u>DIRECTLY COMPARABLE GAAP FINANCIAL MEASUREMENTS</u>

<u>(Amounts in Thousands)</u>

<u>(unaudited)</u>

<u>Adjusted Net (Loss) Income\* and Adjusted Diluted Earnings per Share</u>

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

---

| | | |
|:---|:---|:---|
| | Three months ended March 31, 2026 | Three months ended March 31, 2026 |
| | Amount | Per Share <sup>(1)</sup> |
| Net loss attributable to DMC Global Inc.\* | $(6065) | $(0.30) |
| Restructuring expenses, net of tax | 368 | 0.02 |
| As adjusted | $(5697) | $(0.28) |

---

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

---

| | | |
|:---|:---|:---|
| | Three months ended December 31, 2025 | Three months ended December 31, 2025 |
| | Amount | Per Share <sup>(1)</sup> |
| Net loss attributable to DMC Global Inc.\* | $(11164) | $(0.56) |
| Strategic review and related expenses, net of tax | 314 | 0.01 |
| Restructuring expenses and asset impairments, net of tax | 902 | 0.05 |
| As adjusted | $(9948) | $(0.50) |

---

<sup>(1)</sup> Calculated using diluted weighted average shares outstanding of 19,998,353.

---

| | | |
|:---|:---|:---|
| | Three months ended March 31, 2025 | Three months ended March 31, 2025 |
| | Amount | Per Share <sup>(1)</sup> |
| Net income attributable to DMC Global Inc.\* | $677 | $0.03 |
| Strategic review and related expenses, net of tax | 1298 | 0.07 |
| Restructuring expenses, net of tax | 195 | 0.01 |
| As adjusted | $2170 | $0.11 |

---

<sup>(1)</sup> Calculated using diluted weighted average shares outstanding of 19,816,281.

------

<u>DMC GLOBAL INC.</u>

<u>RECONCILIATIONS OF NON-GAAP FINANCIAL MEASUREMENTS TO MOST</u>

<u>DIRECTLY COMPARABLE GAAP FINANCIAL MEASUREMENTS</u>

<u>(Amounts in Thousands)</u>

<u>(unaudited)</u>

<u>Segment Adjusted EBITDA</u>

**Arcadia Products**

---

| | | | |
|:---|:---|:---|:---|
| | Three months ended | Three months ended | Three months ended |
| | Mar 31, 2026 | Dec 31, 2025 | Mar 31, 2025 |
| Operating (loss) income, as reported | $(2002) | $(1891) | $2996 |
| Adjustments: |  |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation | 1029 | 1017 | 1006 |
| &nbsp;&nbsp;&nbsp;Amortization of purchased intangible assets | 4356 | 4763 | 4763 |
| &nbsp;&nbsp;Stock-based compensation | 24 | 142 | 237 |
| &nbsp;&nbsp;&nbsp;Restructuring expenses | 495 |  | 325 |
| Adjusted EBITDA | 3902 | 4031 | 9327 |
| Less: adjusted EBITDA attributable to redeemable noncontrolling interest | (1561) | (1612) | (3731) |
| Adjusted EBITDA attributable to DMC Global Inc. | $2341 | $2419 | $5596 |

---

**DynaEnergetics**

---

| | | | |
|:---|:---|:---|:---|
| | Three months ended | Three months ended | Three months ended |
| | Mar 31, 2026 | Dec 31, 2025 | Mar 31, 2025 |
| Operating income (loss), as reported | $912 | $(4626) | $5588 |
| Adjustments: |  |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation | 1763 | 1886 | 1791 |
| &nbsp;&nbsp;&nbsp;Restructuring expenses | 71 |  |  |
| Adjusted EBITDA | $2746 | $(2740) | $7379 |

---

**NobelClad**

---

| | | | |
|:---|:---|:---|:---|
| | Three months ended | Three months ended | Three months ended |
| | Mar 31, 2026 | Dec 31, 2025 | Mar 31, 2025 |
| Operating income, as reported | $1052 | $1279 | $4622 |
| Adjustments: |  |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation | 841 | 823 | 794 |
| Adjusted EBITDA | $1893 | $2102 | $5416 |

---