DMC Global Inc. Files 10-Q for Period Ending March 31, 2024

AI Summary

DMC Global Inc. (BOOM) filed a Quarterly Report (10-Q) with the SEC on May 2, 2024. DMC Global Inc. filed its quarterly report (10-Q) for the period ending March 31, 2024. The filing covers the first quarter of the fiscal year 2024. The company's principal executive offices are located in Broomfield, Colorado. DMC Global Inc. was formerly known as Dynamic Materials Corp. and Explosive Fabricators Inc. The filing is made under the Securities Exchange Act of 1934.

Why It Matters

For investors and stakeholders tracking DMC Global Inc., this filing contains several important signals. This filing provides investors with crucial, up-to-date financial information for DMC Global Inc., enabling informed investment decisions. The 10-Q report is a standard SEC filing that offers a comprehensive overview of a company's financial health and operational status during a specific quarter.

Risk Assessment

Risk Level: low — DMC Global Inc. shows low risk based on this filing. The filing is a routine 10-Q, which typically contains standard financial disclosures and does not indicate any unusual or significant events requiring a higher risk assessment.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand DMC Global Inc.'s performance and outlook for the upcoming quarters.

Key Numbers

• 2024-03-31 — Period End Date (Quarterly report period)
• 2024-05-02 — Filing Date (Date the report was filed)
• 2023-12-31 — Previous Year End Date (Reference for comparative data)
• 2023-03-31 — Prior Year Quarter End Date (Reference for year-over-year comparison)

Key Players & Entities

• DMC Global Inc. (company) — Filer name
• BOOM (company) — Ticker symbol
• 10-Q (filing) — Form type
• 2024-05-02T00:00:00.000Z (date) — Filing date
• 2024-03-31 (date) — Period of report
• Broomfield, Colorado (location) — Business address city and state
• Dynamic Materials Corp. (company) — Former company name
• Explosive Fabricators Inc. (company) — Former company name

FAQ

Industry Context

DMC Global Inc. operates within the manufacturing sector, specifically focusing on primary metal products.

Regulatory Implications

The filing is made in accordance with the Securities Exchange Act of 1934, requiring public companies to submit regular financial reports to the SEC.

What Investors Should Do

1. Analyze the financial statements (balance sheet, income statement, cash flow statement) for the quarter ended March 31, 2024.
2. Review the Management's Discussion and Analysis of Financial Condition and Results of Operations section for management's perspective on performance.
3. Compare the Q1 2024 results with the corresponding period in the prior year (Q1 2023) and the preceding quarter (Q4 2023) to identify trends.

Key Dates

• 2024-03-31: Quarter End Date — Marks the end of the reporting period for the 10-Q.
• 2024-05-02: Filing Date — Date DMC Global Inc. submitted its 10-Q to the SEC.

Year-Over-Year Comparison

This is the initial 10-Q filing for the fiscal year 2024, following the 2023 annual report (10-K).

Key Financial Figures

• $0.05 — ange on which registered Common Stock, $0.05 Par Value BOOM The Nasdaq Global Selec

Filing Documents

• boom-20240331.htm (10-Q) — 1119KB
• igrieves-retentionagreement.htm (EX-10.1) — 14KB
• boom-exx311_q1x03312024.htm (EX-31.1) — 14KB
• boom-exx312_q1x03312024.htm (EX-31.2) — 14KB
• boom-exx321_q1x03312024.htm (EX-32.1) — 7KB
• boom-exx322_q1x03312024.htm (EX-32.2) — 7KB
• image_0.jpg (GRAPHIC) — 185KB
• 0000034067-24-000075.txt ( ) — 6091KB
• boom-20240331.xsd (EX-101.SCH) — 36KB
• boom-20240331_cal.xml (EX-101.CAL) — 68KB
• boom-20240331_def.xml (EX-101.DEF) — 163KB
• boom-20240331_lab.xml (EX-101.LAB) — 528KB
• boom-20240331_pre.xml (EX-101.PRE) — 353KB
• boom-20240331_htm.xml (XML) — 773KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1 Condensed Consolidated Financial Statements 4 Condensed Consolidated Balance Sheets as of March 3 1, 2024 (unaudited) and December 31, 20 23 4 Condensed Consolidated Statements of Operations for the three months ended March 31, 2024 and 202 3 (unaudited) 5 Condensed Consolidated Statements of Comprehensive Income for the three months ended March 31, 2024 and 202 3 (unaudited) 6 Condensed Consolidated Statements of Stockholders' Equity and Redeemable Noncontrolling Interest for the three months ended March 3 1, 202 4 and 2023 (unaudited) 7 Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 20 24 and 202 3 (unaudited) 8 Notes to Condensed Consolidated Financial Statements (unaudited) 9 Item 2

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 22 Item 3 Quantitative and Qualitative Disclosure about Market Risk 31 Item 4

Controls and Procedures

Controls and Procedures 31

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1

Legal Proceedings

Legal Proceedings 32 Item 1A

Risk Factors

Risk Factors 32 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 32 Item 3 Defaults Upon Senior Securities 32 Item 4 Mine Safety Disclosures 32 Item 5 Other Information 32 Item 6 Exhibits 33

Signatures

Signatures 33 3 Table of Contents

- FINANCIAL INFORMATION

Part I - FINANCIAL INFORMATION

Condensed Consolidated Financial Statements

ITEM 1. Condensed Consolidated Financial Statements DMC GLOBAL INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Amounts in Thousands, Except Share and Per Share Data) March 31, 2024 December 31, 2023 (unaudited) ASSETS Current assets: Cash and cash equivalents $ 20,444 $ 31,040 Marketable securities — 12,619 Accounts receivable, net of allowance for doubtful accounts of $ 2,429 and $ 1,955 , respectively 104,697 106,205 Inventories 172,113 166,712 Prepaid expenses and other 10,187 10,236 Total current assets 307,441 326,812 Property, plant and equipment 226,327 223,683 Less - accumulated depreciation ( 97,299 ) ( 94,416 ) Property, plant and equipment, net 129,028 129,267 Goodwill 141,725 141,725 Purchased intangible assets, net 189,966 195,260 Deferred tax assets 7,718 6,738 Other assets 84,142 84,693 Total assets $ 860,020 $ 884,495 LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST, AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 50,892 $ 40,202 Accrued expenses 13,106 10,830 Accrued income taxes 14,451 12,810 Accrued employee compensation and benefits 11,797 16,918 Contract liabilities 19,177 21,621 Current portion of long-term debt 2,500 15,000 Other current liabilities 9,285 9,080 Total current liabilities 121,208 126,461 Long-term debt 85,509 100,851 Deferred tax liabilities 2,390 1,956 Other long-term liabilities 53,919 57,172 Total liabilities 263,026 286,440 Commitments and contingencies (Note 11) Redeemable noncontrolling interest 187,080 187,760 Stockholders' equity Preferred stock, $ 0.05 par value; 4,000,000 shares authorized; no issued and outstanding shares — — Common stock, $ 0.05 par value; 50,000,000 shares authorized; 20,704,004 and 20,467,495 shares issued, respectively 1,035 1,023 Additional paid-in capital 315,233 313,833 Retained earnings 146,860 146,604 Other cumulative comprehensive loss ( 27,539 ) ( 26,426 ) Treasury stock, at cost, and company stock held for deferred compens

View Full Filing

View this 10-Q filing on SEC EDGAR