Envela Corporation【ELA】株式ニュース

Envela Reports Fourth Quarter and Fiscal Year 2025 Financial ResultsMarch 18, 2026 4:00 PM
ACCESS NewswireIRVING, TX / ACCESS Newswire / March 18, 2026 / Envela Corporation today announced its financial results for the Fourth quarter and full year ending December 31, 2025. The Company posted annual revenue of $241.0 million, with annual earnings per diluted share of $0.56. For the fourth quarter, revenue totaled $80.5 million, and quarterly earnings per diluted share of $0.23.Management Commentary"We are proud to report a strong 2025, with solid growth across both our Consumer and Commercial segments," said John Loftus, CEO of Envela Corp. "Consumer demand remained robust, with bullion and pre-owned jewelry performing particularly well, while our expansion into new markets continues to demonstrate the appeal of our value-driven, locally focused retail experience. We expect to open an additional store in the second quarter of 2026, further supporting our growth in the Consumer segment. In Commercial, enterprises are increasingly prioritizing the secure and sustainable management of retired technology assets, and our outbound shipments of electronic scrap remained strong. We remain focused on building our Consumer brands and expanding Commercial relationships, and we are confident that our customer-centered approach will continue to deliver growth and value for our stakeholders.""Fiscal 2025 delivered record earnings and operating income, reflecting strong performance across both segments," said John DeLuca, CFO of Envela. "Consumer results were driven by favorable bullion market conditions and strong holiday sales, while Commercial growth benefited from our IT Asset Disposition platform and solid outbound shipments. These results strengthened our balance sheet, with net cash increasing year over year, supporting our ability to invest in growth and deliver value to shareholders."Fourth Quarter and Full Year 2025 Financial Highlights Three Months Ended December 31, 2025 2024 Sales $80,499,289 $48,321,888 Gross margin $16,501,116 $11,141,407 Operating income $7,533,537 $1,889,124 Net income $5,994,312 $1,600,303 Diluted earnings per share $0.23 $0.06 Adjusted EBITDA (non-U.S. GAAP measure) $8,021,850 $2,320,287 Adjusted EBITDAR (non-U.S. GAAP measure) $8,749,498 $2,899,482 Year Ended December 31, 2025 2024 Sales $241,021,362 $180,376,229 Gross margin $53,924,993 $44,315,787 Operating income $18,108,931 $8,158,881 Net income $14,596,978 $6,757,059 Diluted earnings per share $0.56 $0.26 Adjusted EBITDA (non-U.S. GAAP measure) $19,975,520 $9,710,655 Adjusted EBITDAR (non-U.S. GAAP measure) $22,541,800 $11,815,720 Envela will report more complete earnings information within its Form 10-K.Fourth Quarter and Full Year 2025 Consolidated Operating HighlightsFull year 2025 revenue was $241.0 million, compared to $180.4 million in 2024. Fourth quarter revenue was $80.5, compared to $48.3 in the prior-year quarter.Full year 2025 gross margin was $53.9 million, compared to $44.3 million in 2024. Fourth quarter gross margin was $16.5 million, compared to $11.1 million in the prior-year quarter.Full year 2025 operating expenses were $35.8 million, compared to $36.2 million in 2024. Fourth quarter operating expenses were $9.0 million, compared to $9.3 million in the prior-year quarter.Full year 2025 operating income was $18.1 million, compared to $8.2 million in 2024. Fourth quarter operating income was $7.5 million, compared to $1.9 million in the prior-year quarter.Full year 2025 net income was $14.6 million, or $0.56 per basic and diluted share, compared to $6.8 million, or $0.26 per diluted share in 2024. Fourth quarter net income was $6.0 million, or $0.23 per basic and diluted share, compared to $1.6 million, or $0.06 per diluted share in the prior-year quarter.Full year 2025 Adjusted EBITDA was $20.0 million, or 8.3% of revenue, compared to $9.7 million, or 5.4% of revenue in 2024. Fourth quarter Adjusted EBITDA was $8.0 million, or 3.3% of revenue, compared to $2.3 million, or 4.8% of revenue in the prior-year quarter.Full year 2025 Adjusted EBITDAR was $22.5 million, or 9.4% of revenue, compared to $11.8 million, or 6.6% of revenue in 2024. Fourth quarter Adjusted EBITDAR was $8.7 million, or 3.6% of revenue, compared to $2.9 million, or 1.6% of revenue in the prior-year quarter.Fourth Quarter and Full Year Consumer Segment Operating HighlightsConsumer segment full-year 2025 revenue was $192.7 million, compared to $130.5 million in 2024. Consumer segment fourth quarter revenue was $67.7 million, compared to $36.5 million in the prior-year quarter.Consumer segment full-year 2025 gross margin was $22.9 million, compared to $15.9 million in 2024. Consumer segment fourth quarter gross margin was $8.9 million, compared to $4.4 million in the prior-year quarter.Consumer segment full-year 2025 operating expenses were $16.2 million, compared to $15.7 million in 2024. Consumer segment fourth quarter operating expenses were $4.2 million, compared to $4.2 million in the prior-year quarter.Consumer segment full-year 2025 operating income was $6.7 million, compared to $0.1 million in 2024. Consumer segment fourth quarter operating income was $4.6 million, compared to $0.2 million in the prior-year quarter.Consumer segment full-year 2025 net income was $5.3 million, compared to $16.3 thousand in 2024. Consumer segment fourth quarter net income was $3.7 million, compared to $0.1 million in the prior-year quarter.Consumer segment full-year 2025 Adjusted EBITDA was $7.5 million, compared to $0.7 million in 2024. Consumer segment fourth quarter Adjusted EBITDA was $4.9 million, compared to $0.4 million in the prior-year quarter.Consumer segment full-year 2025 Adjusted EBITDAR was $8.6 million, compared to $1.4 million in 2024. Consumer segment fourth quarter Adjusted EBITDAR was $5.1 million, compared to $0.6 million in the prior-year quarter.Fourth Quarter and Full Year Commercial Segment Operating HighlightsCommercial segment full-year 2025 revenue was $48.3 million, compared to $49.9 million in 2024. Commercial segment fourth quarter revenue was $12.8 million, compared to $11.8 million in the prior-year quarter.Commercial segment full-year 2025 gross margin was $31.0 million, compared to $28.4 million in 2024. Consumer segment fourth quarter gross margin was $7.6 million, compared to $6.7 million in the prior-year quarter.Commercial segment full-year 2025 operating expenses were $19.6 million, compared to $20.4 million in 2024. Commercial segment fourth quarter operating expenses were $4.8 million, compared to $5.1 million in the prior-year quarter.Commercial segment full-year 2025 operating income was $11.4 million, compared to $8.0 million in 2024. Commercial segment fourth quarter operating income was $2.9 million, compared to $1.7 million in the prior-year quarter.Commercial segment full-year 2025 net income was $9.3 million, compared to $6.7 million in 2024. Commercial segment fourth quarter net income was $2.3 million, compared to $1.5 million in the prior-year quarter.Commercial segment full-year 2025 Adjusted EBITDA was $12.5 million, compared to $9.0 million in 2024. Commercial segment fourth quarter Adjusted EBITDA was $3.2 million, compared to $2.0 million in the prior-year quarter.Commercial segment full year 2025 Adjusted EBITDAR was $14.0 million, compared to $10.4 million in 2024. Commercial segment fourth quarter Adjusted EBITDAR was $3.6 million, compared to $2.3 million in the prior-year quarter.Balance Sheet, Cash Flow, and LiquidityCash and cash equivalents were $18.2 million on December 31, 2025, compared to $20.6 million on December 31, 2024.The Company's long-term debt was $9.9 million at December 31, 2025, compared to $13.5 million at December 31, 2024.Total shareholders' equity was $67.1 million at December 31, 2025, compared to $52.7 million on December 31, 2024.For the year ended December 31, 2025, consolidated operating cash flows totaled $2.6 million.Share Repurchase ProgramFor the year ended December 31, 2025, the Company repurchased 32,225 shares of common stock at a cost of $0.2 million. Since the beginning of the share repurchase program in March of 2023, Envela has spent more than $4.8 million to purchase 961,155 shares of common stock under the 1,100,000 share repurchase program authorized through March 31, 2026.Non-GAAP Financial MeasuresThis press release contains non-United States ("U.S.") Generally Accepted Accounting Principles ("GAAP") financial measures. A "non-U.S. GAAP financial measure" is defined as a numerical measure of a company's financial performance that excludes or includes amounts so as to be different than the most directly comparable measure calculated and presented in accordance with U.S. GAAP in the statements of income, balance sheets, or statements of cash flows of the Company.The following table reconciles Adjusted EBITDA and Adjusted EBITDAR to the most comparable U.S. GAAP financial measure for the year ended December 31, 2025 and 2024: Year Ended December 31, 2025 2024 Consumer Commercial Consolidated Consumer Commercial Consolidated Adjusted EBITDA(1) Reconciliation: Net income $5,333,962 $9,263,016 $14,596,978 $16,341 $6,740,718 $6,757,059 Addition (deduction): Depreciation and amortization 791,966 1,074,623 1,866,589 524,510 1,027,264 1,551,774 Other income (352,295) (668,634) (1,020,929) (104,561) (933,121) (1,037,682)Interest expense 204,603 202,039 406,642 228,792 218,591 447,383 Income tax expense 1,491,422 2,634,818 4,126,240 4,818 1,987,303 1,992,121 $7,469,658 $12,505,862 $19,975,520 $669,900 $9,040,755 $9,710,655 Adjusted EBITDAR(2) Reconciliation: Adjusted EBITDA $7,469,658 $12,505,862 $19,975,520 $669,900 $9,040,755 $9,710,655 Addition: Rent expense(3) 1,117,351 1,448,929 2,566,280 747,356 1,357,709 2,105,065 $8,587,009 $13,954,791 $22,541,800 $1,417,256 $10,398,464 $11,815,720 (1) Adjusted EBITDA is defined as the sum of (i) net income (loss) of the Company, adjusted for additions (deductions) of (ii) interest expense, (iii) other (income) expense, (iv) income tax expense (benefit), and (v) depreciation and amortization. Management considers Adjusted EBITDA to be a key financial measure to assess our overall operating performance. The Company's Adjusted EBITDA is considered a non-U.S. GAAP financial measure and is not calculated in accordance with, or preferable to, "net income" or other financial measures of operating performance calculated in accordance with U.S. GAAP.(2) Adjusted EBITDAR is defined as (i) Adjusted EBITDA plus (ii) minimum fixed rent expense for properties occupied under operating leases. Management considers Adjusted EBITDAR to be a key financial measure to assess our overall operating performance, excluding the impact of variability in leasing methods and capital structures. This measure is also an input into the Company's leverage ratios. The Company's Adjusted EBITDAR is considered a non-U.S. GAAP financial measure and is not calculated in accordance with, or preferable to, "net income" or other financial measures of operating performance calculated in accordance with U.S. GAAP.(3) The table below depicts the calculation of rent expense and reconciles rent expense to total lease cost, per ASC 842, the most directly comparable U.S. GAAP financial measure for the year ended December 31, 2025 and 2024: Year Ended December 31, 2025 2024 Consumer Commercial Consolidated Consumer Commercial Consolidated Total lease costs, per ASC 842 $1,392,487 $2,076,816 $3,469,303 $1,132,268 $2,128,185 $3,260,453 Less: variable lease cost (242,983) (477,629) (720,612) (217,362) (590,599) (807,961)Less: short-term lease cost (32,153) (150,258) (182,411) (167,550) (179,877) (347,427) $1,117,351 $1,448,929 $2,566,280 $747,356 $1,357,709 $2,105,065 The following table reconciles components of the Debt to Adjusted EBITDA Leverage Ratio and Net Debt to Adjusted EBITDA Leverage Ratio for the year ended December 31, 2025 and 2024: December 31, December 31, 2025 2024 Debt Obligations(1)(a)$9,924,635 $13,522,179 Total Cash(2) (18,154,849) (20,609,003) Net Debt Obligations(3)(b)$(8,230,214) $(7,086,824) Net income(c)$14,596,978 $6,757,059 Adjusted EBITDA(d)$19,975,520 $9,710,655 Leverage Ratios Debt to Net Income Leverage(4): (a) divided by (c) 0.68x 2.00x Debt to Adjusted EBITDA Leverage(5): (a) divided by (d) 0.50x 1.39xNet Debt to Adjusted EBITDA Leverage(6): (b) divided by (d) (0.41)x (0.73)x(1) Debt Obligations are defined as the sum of amounts outstanding under notes payable balances.(2) Total Cash is defined as the Company's cash and cash equivalents.(3) Net Debt Obligations are defined as the difference between the Company's (i) Debt Obligations and (ii) Total Cash.(4) Debt to Net Income Leverage Ratio is defined as (i) Debt Obligations divided by (ii) net income. The Company considers this measure to be the representative financial measure of our ability to service "notes payable" utilizing U.S. GAAP-derived financial statement balances. Management considers this financial measure to be helpful in understanding the Company's ability to service Debt Obligations.(5) Debt to Adjusted EBITDA Leverage Ratio is defined as the Company's (i) Debt Obligations divided by (ii) Adjusted EBITDA. Management considers this financial measure to be helpful in understanding the Company's ability to service Debt Obligations.(6) Net Debt to Adjusted EBITDA Leverage Ratio is defined as the Company's (i) Net Debt Obligations divided by (ii) Adjusted EBITDA. Management considers this financial measure to be helpful in understanding the Company's ability to service Debt Obligations.The following table reconciles components of the Adjusted Debt to Adjusted EBITDAR Leverage Ratio and Adjusted Net Debt to Adjusted EBITDAR Leverage Ratio for the year ended December 31, 2025 and 2024: December 31, December 31, 2025 2024 Debt Obligations $9,924,635 $13,522,179 Operating lease liabilities 9,933,862 4,847,894 Adjusted Debt Obligations(1)(a)$19,858,497 $18,370,073 Total Cash 18,154,849 20,609,003 Adjusted Net Debt Obligations(2)(b)$1,703,648 $(2,238,930) Net income(c)$14,596,978 $6,757,059 Adjusted EBITDAR(d)$22,541,800 $11,815,720 Adjusted Leverage Ratios Adjusted Debt to Net Income Leverage(3): (a) divided by (c) 1.36x 2.72x Adjusted Debt to Adjusted EBITDAR Leverage(4): (a) divided by (d) 0.88x 1.55xAdjusted Net Debt to Adjusted EBITDAR Leverage(5): (b) divided by (d) 0.08x (0.19)x(1) Adjusted Debt Obligations are defined as the sum of the Company's (i) Debt Obligations and (ii) operating lease liabilities.(2) Adjusted Net Debt Obligations are defined as the difference between the Company's (i) Adjusted Debt Obligations and (ii) Total Cash.(3) Adjusted Debt to Net Income Leverage Ratio is defined as the sum of (i) Debt Obligations and (ii) operating lease liabilities divided by (iii) net income. The Company considers this measure to be the representative financial measure of our ability to service "notes payable" and "operating leases" utilizing U.S. GAAP-derived financial statement balances. Management considers this financial measure to be helpful in understanding the Company's ability to service debt and operating lease obligations.(4) Adjusted Debt to Adjusted EBITDAR Leverage Ratio is defined as the Company's (i) Adjusted Debt Obligations divided by (ii) Adjusted EBITDAR. Management considers this financial measure to be helpful in understanding the Company's ability to service debt and operating lease obligations.(5) Adjusted Net Debt to Adjusted EBITDAR Leverage Ratio is defined as the Company's (i) Adjusted Net Debt Obligations divided by (ii) Adjusted EBITDAR. Management considers this financial measure to be helpful in understanding the Company's ability to service debt and operating lease obligations.The following table reconciles Net Cash(1) to its comparable U.S. GAAP financial measures: December 31, December 31, 2025 2024 Total Cash $18,154,849 $20,609,003 Less: Debt Obligations (9,924,635) (13,522,179) $8,230,214 $7,086,824 (1) Net Cash is defined as the difference between the Company's (i) Total Cash and (ii) Debt Obligations. Management considers this financial measure to be helpful in the understanding of the Company's liquidity. The Company's Net Cash is considered a non-U.S. GAAP financial measure and is not calculated in accordance with, or preferable to, "cash and cash equivalents" and amounts outstanding under "notes payable" balances or other financial measures of liquidity calculated in accordance with U.S. GAAP.The following table reconciles Free Cash Flow(1) to the comparable U.S. GAAP financial measures for the year end December 31, 2025 and 2024: Year Ended December 31, 2025 2024 Operating Cash Flow $2,580,794 $10,190,640 Capital Expenditures (1,251,146) (3,758,404) $1,329,648 $6,432,236 (1) Free Cash Flow is defined as the difference between the Company's (i) net cash provided by operations ("Operating Cash Flow") and (ii) Capital Expenditures, which the Company defines as any purchases of property and equipment or intangible assets. The Company's Free Cash Flow is considered a non-U.S. GAAP financial measure and is not calculated in accordance with, or preferable to, "net cash provided by operations" or other financial measures of cash flow available to meet financing needs calculated in accordance with U.S. GAAP.Envela periodically provides information for investors on its corporate website, envela.com. This includes press releases, quarterly investor presentations, and other information about financial performance, reports filed or furnished with the Securities and Exchange Commission ("SEC"), information on corporate governance, and details related to its annual meeting of shareholders.About Envela®Envela Corporation (NYSE American | Texas: ELA) is a leading provider of re-commerce services, driving innovation at the forefront of the circular economy. We Reuse, Recycle, and Reimagine to offer consumers alternatives, contribute to environmental sustainability, and maximize product value. As a sustainability-focused company, Envela extends product lifecycles to minimize resource consumption and carbon emissions. By focusing on our core strengths, we create exceptional value and strive to leave the world better than we found it.The company operates through two primary business segments: Consumer and Commercial. The Consumer segment includes retail stores and online platforms offering premium brands and luxury hard assets, while the Commercial segment delivers tailored re-commerce solutions to clients, including many Fortune 500 companies. To learn more about our innovative approach, visit Envela.com.Cautionary Statement Regarding Forward-Looking InformationThis press release contains statements that may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995's safe harbor provisions, including statements regarding future events and developments; potential expansions, purchases and acquisitions; potential future success of business lines and strategies; and management's expectations, beliefs, plans, estimates and projections relating to the future. Words such as "may," "will," "should," "could," "can," "would," "believe," "anticipate," "project," "plan," "expect," "estimate," "goal," "seek," "ensure," "potential," "opportunity," "intend," "predict," "committed," "likely," "continue," "strive," "aim," "scheduled," "focused on," "long-term," "future," "over time," "ongoing," "uncertain," "moving forward," "subject to," or similar expressions are intended to identify forward-looking statements.Forward-looking statements are based on management's then-current views and assumptions and, as a result, are subject to certain risks and uncertainties, which could cause the Company's actual results to differ materially from those projected. These risks and uncertainties include, but are not limited to, risks described more fully in Item 1A in the Company's Annual Report on Form 10-K, which are expressly incorporated herein by reference, and other factors as may periodically be described in the Company's filings with the SEC. By making these statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release except as required by law.Investor Relations Contact