Balance Sheet Improvement and Liquidity
Net debt reduced by $11.4M in the fourth quarter to $18.7M, down 67% year-over-year (lowest level since 2021). Total debt reduced to $52M, a 28% decrease from year-end 2024. Cash and cash equivalents of approximately $32M at quarter-end.
Consolidated Guidance Indicates Positive Adjusted EBITDA in Q1
Management guided first quarter sales of $132M–$138M and expects adjusted EBITDA attributable to DMC of $2M–$4M, implying a return to positive adjusted EBITDA in the upcoming quarter despite current headwinds.
DynaEnergetics Revenue Growth
DynaEnergetics reported fourth quarter sales of $68.9M, up 8% year-over-year and flat sequentially, indicating resilient unit volume despite challenging end-market conditions.
Arcadia Year‑Over‑Year Margin Improvement
Arcadia reported a fourth quarter adjusted EBITDA attributable to DMC of $2.4M (up from $2.2M YoY). Arcadia's adjusted EBITDA margin before noncontrolling interest improved to 7.1% from 6.2% year-over-year.
NobelClad Order Backlog Growth and Large International Order
NobelClad backlog at quarter-end was $62.6M, up 28% year-over-year and 10% sequentially, reflecting a record $25M order in Q1 2025 for an international petrochemical project.
Cost Discipline and Preparedness
Company emphasized ongoing cost reduction and operational readiness measures (headcount and variable costs on the table) and stated there are no required large capital investments to pursue growth opportunities such as enhanced geothermal and international shale.
Strategic Growth Opportunities Identified
Management highlighted potential growth avenues: enhanced geothermal and international shale for DynaEnergetics, and naval readiness/submarine-related demand for NobelClad, which could drive meaningful future upside if realized.