Significant Improvement in Financial Metrics
EBITDA increased by $13 million, adjusted EBITDA by $9 million, cash from operating activities up $24 million, and net debt reduced by $16 million from the beginning of 2025. Net debt to trailing 12 months adjusted EBITDA dropped from 4.67x to 2.7x year-over-year.
Manufactured Products Business Growth
Net sales at Manufactured Products increased by 27.7% to $58.1 million, and gross profit increased to $10.2 million from $7.8 million, driven by defense products business and operational cost improvements.
Positive Cash Flow and Debt Management
Free cash flow for Q3 2025 was $4.9 million compared to negative $2.9 million in Q3 2024, and net debt balance was reduced to $82.9 million.