EVI Industries Files 2024 Annual Report

TL;DR

EVI Industries filed its 2024 10-K. Check financials.

AI Summary

EVI Industries, Inc. filed its annual report on Form 10-K for the fiscal year ended June 30, 2024. The company, formerly known as EnviroStar, Inc., is based in Miami, Florida, and operates in the personal services sector. This filing provides a comprehensive overview of the company's financial performance and business operations for the past fiscal year.

Why It Matters

This 10-K filing provides investors and stakeholders with a detailed look at EVI Industries' financial health and strategic direction for the fiscal year ending June 30, 2024.

Risk Assessment

Risk Level: low — This is a standard annual report filing and does not contain immediate, specific risk-increasing information.

Key Players & Entities

• EVI INDUSTRIES, INC. (company) — Filer
• June 30, 2024 (date) — Fiscal year end
• Miami, FL (location) — Company headquarters
• EnviroStar, Inc. (company) — Former company name

FAQ

Key Financial Figures

• $0.025 — ange on which registered Common Stock, $0.025 par value EVI NYSE American Securitie
• $250,000 — in depositary accounts in excess of the $250,000 in maximum Federal Deposit Insurance Co

Filing Documents

• ea0212437-10k_eviindus.htm (10-K) — 880KB
• ea021243701ex19_eviindus.htm (EX-19) — 73KB
• ea021243701ex21_eviindus.htm (EX-21) — 8KB
• ea021243701ex23_eviindus.htm (EX-23) — 3KB
• ea021243701ex31-a_eviindus.htm (EX-31.A) — 8KB
• ea021243701ex31-b_eviindus.htm (EX-31.B) — 8KB
• ea021243701ex32-a_eviindus.htm (EX-32.A) — 4KB
• ea021243701ex32-b_eviindus.htm (EX-32.B) — 4KB
• ea021243701ex97_eviindus.htm (EX-97) — 31KB
• 0001174947-24-001056.txt ( ) — 5864KB
• evi-20240630.xsd (EX-101.SCH) — 54KB
• evi-20240630_cal.xml (EX-101.CAL) — 61KB
• evi-20240630_def.xml (EX-101.DEF) — 274KB
• evi-20240630_lab.xml (EX-101.LAB) — 505KB
• evi-20240630_pre.xml (EX-101.PRE) — 272KB
• ea0212437-10k_eviindus_htm.xml (XML) — 607KB

Business

Business 4 Item 1A

Risk Factors

Risk Factors 12 Item 1B Unresolved Staff Comments 23 Item 1C Cybersecurity 23 Item 2

Properties

Properties 24 Item 3

Legal Proceedings

Legal Proceedings 24 Item 4 Mine Safety Disclosures 25 PART II Item 5 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 25 Item 6 [Reserved] 25 Item 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 26 Item 7A

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 35 Item 8

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 36 Item 9 Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 69 Item 9A

Controls and Procedures

Controls and Procedures 69 Item 9B Other Information 73 Item 9C Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 73 PART III Item 10 Directors, Executive Officers and Corporate Governance 74 Item 11

Executive Compensation

Executive Compensation 74 Item 12

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 74 Item 13 Certain Relationships and Related Transactions, and Director Independence 75 -i- TABLE OF CONTENTS (continued) Page Item 14 Principal Accountant Fees and Services 75 PART IV Item 15 Exhibits and Financial Statement Schedules 75 Item 16 Form 10-K Summary 78

SIGNATURES

SIGNATURES 79 -ii- TERMS USED IN THIS REPORT Unless the context otherwise requires, references to the "Company" or "EVI" in this Annual Report on Form 10-K (this "Report") refer to EVI Industries, Inc., collectively with its subsidiaries. References in this Report to "fiscal 2024" or any period thereof refer to the Company's fiscal year ended June 30, 2024 or the applicable period thereof, as the case may be. References in this Report to "fiscal 2023" or any period thereof refer to the Company's fiscal year ended June 30, 2023 or the applicable period thereof, as the case may be. CAUTIONARY NOTE REGARDING FORWARD LOOKING Certain statements in this Report are "forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this Report, words such as "may," "should," "could," "seek," "believe," "expect," "anticipate," "estimate," "project," "intend," "strategy" and similar expressions are intended to identify forward looking statements. Forward looking statements may relate to, among other things, events, conditions and trends that may affect the future plans, operations, business, strategies, operating results, financial position and prospects of the Company. Forward looking statements are subject to a number of known and unknown risks and uncertainties that may cause actual results, trends, performance or achievements of the Company, or industry trends and results, to differ materially from the future results, trends, performance or achievements expressed or implied by such forward looking statements. These risks and uncertainties include, among others, those associated with: general economic and business conditions in the United States and other countries where the Company operates or where the Company's customers and suppliers are located, including the potential of a recession; industry conditions and trends; credit market volatility; risks related to supply chain delays and disruptions and th

Business

Item 1. Business. General The Company was incorporated under the laws of the State of Delaware on June 13, 1963. On December 21, 2018, the Company changed its name from EnviroStar, Inc. to EVI Industries, Inc. 4 The Company, through its wholly-owned subsidiaries, is a value-added distributor, and provides advisory and technical services. Through its vast sales organization, the Company provides its customers with planning, designing, and consulting services related to their commercial laundry operations. The Company sells and/or leases its customers commercial laundry equipment, specializing in washing, drying, finishing, material handling, water heating, power generation, and water reuse applications. In support of the suite of products it offers, the Company sells related parts and accessories. Additionally, through the Company's robust network of commercial laundry technicians, the Company provides its customers with installation, maintenance, and repair services. The Company's customers include government, institutional, industrial, commercial and retail customers. Product purchases made by customers range from parts and accessories, to single or multiple units of equipment, to large complex systems. The Company also provides its customers with the services described above. Beginning in 2015, the Company implemented a "buy-and-build" growth strategy which includes (i) the consideration and pursuit of acquisitions and other strategic transactions which management believes may complement the Company's existing business or otherwise offer growth opportunities for, or benefit, the Company and (ii) the implementation of a growth culture at acquired businesses based on the exchange of ideas and business concepts among the management teams of the Company and the acquired businesses as well as through certain additional initiatives, which may include investments in additional sales and service personnel, new product lines, enhanced service operations and capabilit

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View this 10-K filing on SEC EDGAR