Titan Machinery Files Q2 2025 10-Q

TL;DR

**Titan Machinery Q2 10-Q is in! Check equipment, parts, and service sales for FY25.**

AI Summary

Titan Machinery Inc. filed its 10-Q for the period ending July 31, 2024. The company reported its financial results for the second quarter and the first six months of fiscal year 2025. Specific financial figures for sales of equipment, parts, and services are detailed within the filing.

Why It Matters

This filing provides investors with the latest financial performance data for Titan Machinery, crucial for understanding the company's operational health and future prospects in the agricultural and construction equipment sectors.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing financial updates and does not indicate any immediate or unusual risks.

Key Numbers

• 2024-07-31 — Reporting Period End Date (Indicates the end of the financial period covered by the report.)
• 2025-01-31 — Fiscal Year End (Defines the end of the company's fiscal year.)

Key Players & Entities

• Titan Machinery Inc. (company) — Filer of the 10-Q
• 2024-07-31 (date) — End of the reporting period
• 2025-01-31 (date) — Fiscal year end

FAQ

Key Financial Figures

• $0.00001 — ange on which registered Common Stock, $0.00001 par value per share TITN The Nasdaq Sto
• $12.7 million — of certain long-lived assets, that the $12.7 million carrying value of these assets may not
• $0.9 million — pany recognized an impairment charge of $0.9 million within the Europe segment in the second
• $0.5 million — solidated Statements of Operations, was $0.5 million and $0.1 million for the three months e
• $0.1 million — nts of Operations, was $0.5 million and $0.1 million for the three months ended July 31, 202
• $1.0 million — solidated Statements of Operations, was $1.0 million and $0.2 million for the six months end
• $0.2 million — nts of Operations, was $1.0 million and $0.2 million for the six months ended July 31, 2024

Filing Documents

• titn-20240731.htm (10-Q) — 1502KB
• a10qfy25q2ex311.htm (EX-31.1) — 11KB
• a10qfy25q2ex312.htm (EX-31.2) — 13KB
• a10qfy25q3ex321.htm (EX-32.1) — 5KB
• a10qfy25q2ex322.htm (EX-32.2) — 5KB
• 0001409171-24-000098.txt ( ) — 7157KB
• titn-20240731.xsd (EX-101.SCH) — 43KB
• titn-20240731_cal.xml (EX-101.CAL) — 53KB
• titn-20240731_def.xml (EX-101.DEF) — 225KB
• titn-20240731_lab.xml (EX-101.LAB) — 565KB
• titn-20240731_pre.xml (EX-101.PRE) — 419KB
• titn-20240731_htm.xml (XML) — 1101KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION 3

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS 3 Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Operations 4 Condensed Consolidated Statements of Comprehensive Income (Loss) 5 Condensed Consolidated Statements of Stockholders' Equity 6 Condensed Consolidated Statements of Cash Flows 7 Notes to Condensed Consolidated Financial Statements 8

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 22

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 36

CONTROLS AND PROCEDURES

ITEM 4. CONTROLS AND PROCEDURES 36

OTHER INFORMATION

PART II. OTHER INFORMATION 37

LEGAL PROCEEDINGS

ITEM 1. LEGAL PROCEEDINGS 37

RISK FACTORS

ITEM 1A. RISK FACTORS 37

UNREGISTERED SALES OF EQUITY SECURITIES, USE OF PROCEEDS AND ISSUER PURCHASES OF EQUITY SECURITIES 37

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES, USE OF PROCEEDS AND ISSUER PURCHASES OF EQUITY SECURITIES 37

DEFAULTS UPON SENIOR SECURITIES

ITEM 3. DEFAULTS UPON SENIOR SECURITIES 37

MINE SAFETY DISCLOSURES

ITEM 4. MINE SAFETY DISCLOSURES 37

OTHER INFORMATION

ITEM 5. OTHER INFORMATION 37

EXHIBITS

ITEM 6. EXHIBITS 37 Exhibit Index 38 Signatures 39 2 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS TITAN MACHINERY INC. CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (in thousands, except per share data) July 31, 2024 January 31, 2024 Assets Current Assets Cash $ 31,219 $ 38,066 Receivables, net of allowance for expected credit losses 131,776 153,657 Inventories, net 1,527,758 1,303,030 Prepaid expenses and other 18,347 24,262 Total current assets 1,709,100 1,519,015 Noncurrent Assets Property and equipment, net of accumulated depreciation 357,346 298,774 Operating lease assets 37,643 54,699 Deferred income taxes 512 529 Goodwill 62,929 64,105 Intangible assets, net of accumulated amortization 51,367 53,356 Other 1,652 1,783 Total noncurrent assets 511,449 473,246 Total Assets $ 2,220,549 $ 1,992,261 Liabilities and Stockholders' Equity Current Liabilities Accounts payable $ 40,434 $ 43,846 Floorplan payable 1,168,440 893,846 Current maturities of long-term debt 9,940 13,706 Current operating lease liabilities 7,912 10,751 Deferred revenue 57,802 115,852 Accrued expenses and other 58,892 74,400 Total current liabilities 1,343,420 1,152,401 Long-Term Liabilities Long-term debt, less current maturities 116,666 106,407 Operating lease liabilities 35,415 50,964 Deferred income taxes 21,662 22,607 Other long-term liabilities 43,820 2,240 Total long-term liabilities 217,563 182,218 Commitments and Contingencies Stockholders' Equity Common stock, par value $ .00001 per share, 45,000,000 shares authorized; 23,127,895 shares issued and outstanding at July 31, 2024; 22,848,138 shares issued and outstanding at January 31, 2024 — — Additional paid-in-capital 259,911 258,657 Retained earnings 402,362 397,225 Accumulated other comprehensive income (loss) ( 2,707 ) 1,760 Total stockholders' equity 659,566 657,642 Total Liabilities and Stockholders' Equity $ 2,220,549 $ 1,992,261 See Notes to Condensed Consolidated Financial Statements 3 Table of Contents TITAN MACHINERY INC. CONDENSED CO

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