DMC Global Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>DMC Global Inc. has submitted its 2023 annual report (10-K) detailing its financial performance and business operations for the fiscal year ending December 31, 2023.</b>

AI Summary

DMC Global Inc. (BOOM) filed a Annual Report (10-K) with the SEC on February 23, 2024. DMC Global Inc. filed its 2023 Form 10-K on February 23, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal business address is 11800 Ridge Parkway, Suite 300, Broomfield, CO 80021. DMC Global Inc. was formerly known as Dynamic Materials Corp and Explosive Fabricators Inc. The company's Standard Industrial Classification code is 3390 (Miscellaneous Primary Metal Products).

Why It Matters

For investors and stakeholders tracking DMC Global Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of DMC Global's financial health, operational performance, and strategic direction for the past fiscal year, crucial for investors assessing the company's value and future prospects. The detailed financial statements and risk factors within the report offer insights into the company's market position, potential challenges, and opportunities within the miscellaneous primary metal products industry.

Risk Assessment

Risk Level: medium — DMC Global Inc. shows moderate risk based on this filing. The company operates within the miscellaneous primary metal products sector, which can be subject to cyclical demand and raw material price volatility, as indicated by its SIC code and the nature of the industry.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to understand DMC Global's performance and outlook in the metals products industry.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period)
• 2024-02-23 — Filing Date (Date of submission)
• 001-14775 — SEC File Number (SEC registration number)
• CO — State of Incorporation (State where the company is incorporated)

Key Players & Entities

• DMC Global Inc. (company) — Filer name
• BOOM (company) — Ticker symbol
• 20231231 (date) — Fiscal year end
• 20240223 (date) — Filing date
• 11800 Ridge Parkway, Suite 300, Broomfield, CO 80021 (address) — Business address
• Dynamic Materials Corp (company) — Former company name
• Explosive Fabricators Inc (company) — Former company name
• 3390 (industry_code) — Standard Industrial Classification

FAQ

Industry Context

DMC Global Inc. operates within the miscellaneous primary metal products industry, a sector characterized by manufacturing and processing of metal goods.

Regulatory Implications

The company is subject to standard SEC regulations for public companies, including the requirement to file annual reports (10-K) detailing financial performance and business operations.

What Investors Should Do

1. Review the consolidated financial statements for the fiscal year ended December 31, 2023.
2. Analyze the Management's Discussion and Analysis of Financial Condition and Results of Operations section.
3. Examine the Risk Factors section for potential business and financial challenges.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K filing.
• 2024-02-23: Filing Date — Date the 10-K was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial filing analyzed for the fiscal year 2023.

Filing Documents

• boom-20231231.htm (10-K) — 2356KB
• jamiechilcoff-offerletter.htm (EX-10.18) — 38KB
• dmcdcpsecondamendment.htm (EX-10.22) — 9KB
• dmcdcpthirdamendment.htm (EX-10.23) — 9KB
• dmcschladenconsultingagree.htm (EX-10.41) — 44KB
• boom-exx231_20231231x10k.htm (EX-23.1) — 5KB
• boom-exx311_20231231x10k.htm (EX-31.1) — 14KB
• boom-exx312_20231231x10k.htm (EX-31.2) — 14KB
• boom-exx321_20231231x10k.htm (EX-32.1) — 7KB
• boom-exx322_20231231x10k.htm (EX-32.2) — 7KB
• dmcclawbackpolicy.htm (EX-97.1) — 35KB
• boom-20231231_g1.jpg (GRAPHIC) — 142KB
• 0000034067-24-000025.txt (&nbsp;) — 11335KB
• boom-20231231.xsd (EX-101.SCH) — 57KB
• boom-20231231_cal.xml (EX-101.CAL) — 112KB
• boom-20231231_def.xml (EX-101.DEF) — 351KB
• boom-20231231_lab.xml (EX-101.LAB) — 921KB
• boom-20231231_pre.xml (EX-101.PRE) — 608KB
• boom-20231231_htm.xml (XML) — 1620KB

Business

Business 2 Item 1A.

Risk Factors

Risk Factors 15 Item 1B. Unresolved Staff Comments 34 Item 1C. Cybersecurity 34 Item 2.

Properties

Properties 35 Item 3.

Legal Proceedings

Legal Proceedings 38 Item 4. Mine Safety Disclosures 38 Part II 39 Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 39 Item 6. [Reserved] 41 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 42 Item 7A.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 55 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 57 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 89 Item 9A.

Controls and Procedures

Controls and Procedures 89 Item 9B. Other Information 92 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 92 Part III 93 Item 10. Directors, Executive Officers and Corporate Governance 93 Item 11.

Executive Compensation

Executive Compensation 93 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 93 Item 13. Certain Relationships and Related Transactions, and Director Independence 93 Item 14. Principal Accounting Fees and Services 93 Part IV 94 Item 15. Exhibits and Financial Statement Schedules 94

Signatures

Signatures 97 Table of Contents PART I

Forward-Looking Statements

Forward-Looking Statements This Annual Report on Form 10-K and the documents incorporated by reference into it contain certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 (the "Reform Act"). Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," "may," "will," "continue," "project," "forecast," and similar expressions, as well as statements in the future tense, identify forward-looking statements. Statements addressing events or developments that we expect or anticipate will occur in the future, including statements relating to our future operating performance, any of our businesses' future financial and operational growth or technical and product expansions, the result and timing of the strategic review process for our businesses, the potential acquisition of the 40% minority interest in Arcadia Products, LLC ("Arcadia Products"), expected benefits from enhancements to our systems and applications, our backlog and anticipated future sales and market share, as well as statements expressing optimism or pessimism about future operating results, are forward-looking statements within the meaning of the Reform Act. Forward-looking statements are not guarantees of our future performance and are subject to risks and uncertainties that could cause actual results to differ materially from the results contemplated by the forward-looking statements. These risks and uncertainties include those relating to: Changes in global economic conditions; The ability to obtain new contracts at attractive prices; The size and timing of customer orders and shipments; Product pricing and margins; Our ability to realize sales from our backlog and our ability to adjust our manufacturing and supply chain; Fluctuations in customer demand; Our ability to manage periods of growth and contraction effectively; General economic conditions, both domestic and forei

Business

ITEM 1. Business References made in this Annual Report on Form 10-K to "we", "our", "us", "DMC", "DMC Global" and the "Company" refer to DMC Global Inc. and its consolidated subsidiaries. Unless stated otherwise, all dollar figures in this report are presented in thousands (000s). Overview DMC Global Inc. ("DMC", "we", "us", "our", or the "Company") owns and operates Arcadia Products, DynaEnergetics and NobelClad, three innovative, asset-light manufacturing businesses that provide differentiated products and engineered solutions to segments of the construction, energy, industrial processing and transportation markets. Arcadia Products supplies architectural building products, including exterior and interior framing systems, windows, curtain walls, storefronts, doors, and interior partitions to the commercial construction market; it also supplies customized windows and doors to the ultra-high-end residential construction market. DynaEnergetics designs, manufactures and sells highly engineered products utilized by the global oil and gas industry principally for the perforation of oil and gas wells. NobelClad is a leader in the production of explosion-welded clad metal plates for use in the construction of corrosion resistant industrial processing equipment, as well as specialized transition joints for use in construction of commuter rail cars, ships, and liquified natural gas (LNG) processing equipment. Arcadia Products uses a network of service centers and distributors throughout the United States to sell its products, while DynaEnergetics and NobelClad operate globally through an international network of manufacturing, distribution and sales facilities. Refer to Note 10 within Part II, Item 8 — Financial Statements and Supplementary Data for net sales, operating income, and total assets for each of our segments. Our Strategy Our strategy is to maximize the value of our company by capitalizing on the unique strengths of each of our three businesses. Arcad

View Full Filing

View this 10-K filing on SEC EDGAR