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[10-Q] Allient Inc. Quarterly Earnings Report

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10-Q
Rhea-AI Filing Summary

Parke Bancorp (PKBK) posted solid Q2-25 results. Net income rose 28% YoY to $8.3 million, lifting diluted EPS to $0.69 (vs $0.53). For the six-month period, earnings advanced 27% to $16.1 million, or $1.34 per diluted share.

  • Balance sheet growth: Total assets reached $2.17 billion (+1.3% vs 12/24). Net loans expanded 3.5% to $1.90 billion, while deposits climbed 3.8% to $1.69 billion. FHLB borrowings were trimmed to $100 million from $145 million.
  • Revenue & margins: Net interest income increased 25% YoY to $17.9 million, outpacing the 7% rise in non-interest expense. Higher funding costs pushed quarterly interest expense up 8% to $17.2 million, but loan growth kept net interest income strong. Non-interest income fell 32% to $0.8 million.
  • Credit quality: Allowance for credit losses rose to $33.8 million (1.74% of loans) after a $0.98 million provision. Non-performing loans dipped to $11.2 million (0.58% of loans), and past-due >90 days declined slightly.
  • Capital & shareholder returns: Equity grew 4% to $312.2 million, supporting an estimated tangible book value of ~ $26. Per-share dividends of $0.18 in Q2 and $0.36 YTD were paid; preferred dividends totaled $10 thousand YTD.

Takeaway: Strong loan growth and widening asset yields outweighed higher deposit costs, driving double-digit EPS expansion. Asset quality remains stable, and deposit inflows reduced wholesale funding reliance, positioning the bank well if rate pressures ease.

Parke Bancorp (PKBK) ha riportato solidi risultati nel secondo trimestre del 2025. L'utile netto 猫 cresciuto del 28% su base annua, raggiungendo 8,3 milioni di dollari, con un utile per azione diluito salito a 0,69$ (rispetto a 0,53$). Nel semestre, gli utili sono aumentati del 27% a 16,1 milioni di dollari, pari a 1,34$ per azione diluita.

  • Crescita del bilancio: Gli asset totali hanno raggiunto 2,17 miliardi di dollari (+1,3% rispetto a dicembre 2024). I prestiti netti sono aumentati del 3,5% a 1,90 miliardi di dollari, mentre i depositi sono saliti del 3,8% a 1,69 miliardi di dollari. I prestiti FHLB sono stati ridotti a 100 milioni di dollari da 145 milioni.
  • Ricavi e margini: Il reddito netto da interessi 猫 aumentato del 25% su base annua a 17,9 milioni di dollari, superando l'aumento del 7% delle spese non da interessi. I maggiori costi di finanziamento hanno fatto salire le spese per interessi trimestrali dell'8% a 17,2 milioni, ma la crescita dei prestiti ha mantenuto forte il reddito netto da interessi. I ricavi non da interessi sono diminuiti del 32% a 0,8 milioni.
  • Qualit脿 del credito: Le riserve per perdite su crediti sono salite a 33,8 milioni di dollari (1,74% dei prestiti) dopo una svalutazione di 0,98 milioni. I prestiti non performanti sono scesi a 11,2 milioni (0,58% dei prestiti), e i crediti scaduti da oltre 90 giorni sono diminuiti leggermente.
  • Capitale e ritorni per gli azionisti: Il patrimonio netto 猫 cresciuto del 4% a 312,2 milioni di dollari, supportando un valore contabile tangibile stimato di circa 26$. Sono stati distribuiti dividendi per azione di 0,18$ nel secondo trimestre e 0,36$ nel semestre; i dividendi privilegiati sono stati di 10 mila dollari nel semestre.

Conclusione: La forte crescita dei prestiti e l鈥檃umento dei rendimenti degli asset hanno compensato i maggiori costi dei depositi, portando a un鈥檈spansione a doppia cifra dell鈥檜tile per azione. La qualit脿 degli asset rimane stabile e l鈥檃umento dei depositi ha ridotto la dipendenza dal finanziamento all鈥檌ngrosso, posizionando bene la banca nel caso in cui le pressioni sui tassi si attenuassero.

Parke Bancorp (PKBK) present贸 resultados s贸lidos en el segundo trimestre de 2025. La utilidad neta aument贸 un 28% interanual hasta 8,3 millones de d贸lares, elevando las ganancias diluidas por acci贸n a 0,69$ (frente a 0,53$). En el periodo de seis meses, las ganancias crecieron un 27% hasta 16,1 millones de d贸lares, o 1,34$ por acci贸n diluida.

  • Crecimiento del balance: Los activos totales alcanzaron 2,17 mil millones de d贸lares (+1,3% respecto a diciembre de 2024). Los pr茅stamos netos aumentaron un 3,5% hasta 1,90 mil millones, mientras que los dep贸sitos subieron un 3,8% hasta 1,69 mil millones. Los pr茅stamos FHLB se redujeron a 100 millones desde 145 millones.
  • Ingresos y m谩rgenes: Los ingresos netos por intereses crecieron un 25% interanual hasta 17,9 millones, superando el aumento del 7% en gastos no relacionados con intereses. Los mayores costos de financiamiento elevaron los gastos por intereses trimestrales un 8% hasta 17,2 millones, pero el crecimiento de pr茅stamos mantuvo fuerte el ingreso neto por intereses. Los ingresos no relacionados con intereses cayeron un 32% hasta 0,8 millones.
  • Calidad crediticia: La provisi贸n para p茅rdidas crediticias aument贸 a 33,8 millones (1,74% de los pr茅stamos) tras una provisi贸n de 0,98 millones. Los pr茅stamos en mora disminuyeron a 11,2 millones (0,58% de los pr茅stamos), y los atrasos mayores a 90 d铆as bajaron ligeramente.
  • Capital y retornos para accionistas: El patrimonio creci贸 un 4% hasta 312,2 millones, apoyando un valor tangible en libros estimado de aproximadamente 26$. Se pagaron dividendos por acci贸n de 0,18$ en el segundo trimestre y 0,36$ en lo que va del a帽o; los dividendos preferentes totalizaron 10 mil d贸lares en el a帽o.

颁辞苍肠濒耻蝉颈贸苍: El s贸lido crecimiento de pr茅stamos y el aumento en los rendimientos de activos compensaron los mayores costos de dep贸sitos, impulsando una expansi贸n de ganancias por acci贸n de dos d铆gitos. La calidad de los activos se mantiene estable y el aumento de dep贸sitos redujo la dependencia del financiamiento mayorista, posicionando bien al banco si las presiones sobre las tasas disminuyen.

韺岉伂 氡呾綌頂�(PKPK)電� 2025雲� 2攵勱赴鞐� 瓴碃頃� 鞁れ爜鞚� 氚滍憸頄堨姷雼堧嫟. 靾滌澊鞚奠潃 鞝勲厔 雽�牍� 28% 歃濌皜頃� 830毵� 雼煬毳� 旮半頄堨溂氅�, 頋劃 欤茧嫻靾滌澊鞚�(EPS)鞚� 0.69雼煬搿� 靸侅姽頄堨姷雼堧嫟(鞚挫爠 0.53雼煬 雽�牍�). 6臧滌洈 霃欖晥鞚� 鞚挫澋鞚� 27% 歃濌皜頃� 1,610毵� 雼煬, 頋劃 欤茧嫻 1.34雼煬毳� 旮半頄堨姷雼堧嫟.

  • 雽�彀寑臁绊憸 靹膘灔: 齑� 鞛愳偘鞚� 21鞏� 7觳滊 雼煬鞐� 雼晿氅�(2024雲� 12鞗� 雽�牍� 1.3% 歃濌皜), 靾滊寑於滉笀鞚� 19鞏� 雼煬搿� 3.5% 頇曤寑霅橃棃鞀惦媹雼�. 鞓堦笀鞚� 16鞏� 9觳滊 雼煬搿� 3.8% 歃濌皜頄堨溂氅�, FHLB 彀瀰旮堨潃 1鞏� 雼煬搿� 1鞏� 4,500毵� 雼煬鞐愳劀 欷勳棃鞀惦媹雼�.
  • 靾橃澋 氚� 毵堨: 靾滌澊鞛愳垬鞚奠潃 鞝勲厔 雽�牍� 25% 歃濌皜頃� 1,790毵� 雼煬毳� 旮半頄堨溂氅�, 牍勳澊鞛� 牍勳毄鞚� 7% 歃濌皜鞐� 攴胳长鞀惦媹雼�. 鞛愱笀 臁半嫭 牍勳毄 歃濌皜搿� 攵勱赴氤� 鞚挫瀽 牍勳毄鞚� 8% 靸侅姽頃� 1,720毵� 雼煬臧� 霅橃棃鞙茧倶, 雽�於� 歃濌皜 雿曤秳鞐� 靾滌澊鞛愳垬鞚奠潃 瓴碃頄堨姷雼堧嫟. 牍勳澊鞛� 靾橃澋鞚� 32% 臧愳唽頃� 80毵� 雼煬鞓�鞀惦媹雼�.
  • 鞁犾毄 頀堨: 雽�靻愳订雼龟笀鞚� 3,380毵� 雼煬(雽�於滌潣 1.74%)搿� 歃濌皜頄堨溂氅�, 98毵� 雼煬鞚� 於╇嫻旮堨澊 氚橃榿霅橃棃鞀惦媹雼�. 攵�鞁る寑於滌潃 1,120毵� 雼煬(雽�於滌潣 0.58%)搿� 臧愳唽頄堦碃, 90鞚� 鞚挫儊 鞐办泊霅� 雽�於滊弰 靻岉彮 欷勳棃鞀惦媹雼�.
  • 鞛愲掣 氚� 欤检＜ 靾橃澋: 鞛愲掣鞚� 4% 歃濌皜頃� 3鞏� 1,220毵� 雼煬搿�, 於旍爼 鞙犿槙 鞛ル秬臧�旃橂姅 鞎� 26雼煬鞛呺媹雼�. 2攵勱赴鞐� 欤茧嫻 0.18雼煬, 鞐办磮 鞚错泟 0.36雼煬鞚� 氚半嫻旮堨潉 歆�旮夗枅鞙茧┌, 鞖办劆欤� 氚半嫻旮堨潃 鞐办磮 鞚错泟 1毵� 雼煬鞓�鞀惦媹雼�.

鞖旍暯: 臧曤牓頃� 雽�於� 靹膘灔瓿� 鞛愳偘 靾橃澋毳� 頇曤寑臧� 雿� 雴掛潃 鞓堦笀 牍勳毄鞚� 靸侅噭頃橂┌ 霊� 鞛愲靾� EPS 靹膘灔鞚� 鞚措亴鞐堨姷雼堧嫟. 鞛愳偘 頀堨鞚� 鞎堨爼鞝侅澊氅�, 鞓堦笀 鞙犾瀰鞙茧 霃勲Г 鞛愱笀 臁半嫭 鞚橃〈霃勱皜 臧愳唽頃� 旮堧Μ 鞎曤牓鞚� 鞕勴檾霅� 瓴届毎 鞚�頄夓潣 鞛呾臧� 瓴碃頃╇媹雼�.

Parke Bancorp (PKBK) a publi茅 de solides r茅sultats au deuxi猫me trimestre 2025. Le b茅n茅fice net a augment茅 de 28 % en glissement annuel pour atteindre 8,3 millions de dollars, portant le BPA dilu茅 脿 0,69 $ (contre 0,53 $). Sur six mois, les b茅n茅fices ont progress茅 de 27 % 脿 16,1 millions de dollars, soit 1,34 $ par action dilu茅e.

  • Croissance du bilan : Le total des actifs a atteint 2,17 milliards de dollars (+1,3 % par rapport 脿 d茅cembre 2024). Les pr锚ts nets ont augment茅 de 3,5 % 脿 1,90 milliard de dollars, tandis que les d茅p么ts ont progress茅 de 3,8 % 脿 1,69 milliard de dollars. Les emprunts FHLB ont 茅t茅 r茅duits 脿 100 millions de dollars contre 145 millions auparavant.
  • Revenus et marges : Le produit net d鈥檌nt茅r锚ts a augment茅 de 25 % en glissement annuel 脿 17,9 millions de dollars, d茅passant la hausse de 7 % des charges hors int茅r锚ts. Les co没ts de financement plus 茅lev茅s ont fait augmenter les charges d鈥檌nt茅r锚ts trimestrielles de 8 % 脿 17,2 millions, mais la croissance des pr锚ts a maintenu un produit net d鈥檌nt茅r锚ts solide. Les revenus hors int茅r锚ts ont chut茅 de 32 % 脿 0,8 million.
  • Qualit茅 du cr茅dit : La provision pour pertes sur pr锚ts a augment茅 脿 33,8 millions de dollars (1,74 % des pr锚ts) apr猫s une dotation de 0,98 million. Les pr锚ts non performants ont diminu茅 脿 11,2 millions (0,58 % des pr锚ts), et les cr茅ances en retard de plus de 90 jours ont l茅g猫rement baiss茅.
  • Capital et rendements pour les actionnaires : Les capitaux propres ont cr没 de 4 % 脿 312,2 millions de dollars, soutenant une valeur comptable tangible estim茅e 脿 environ 26 $. Des dividendes par action de 0,18 $ au T2 et 0,36 $ depuis le d茅but de l鈥檃nn茅e ont 茅t茅 vers茅s ; les dividendes privil茅gi茅s ont totalis茅 10 000 $ depuis le d茅but de l鈥檃nn茅e.

Conclusion : La forte croissance des pr锚ts et l鈥櫭﹍argissement des rendements des actifs ont compens茅 la hausse des co没ts des d茅p么ts, entra卯nant une expansion 脿 deux chiffres du BPA. La qualit茅 des actifs reste stable et les entr茅es de d茅p么ts ont r茅duit la d茅pendance au financement de gros, positionnant bien la banque si les pressions sur les taux s鈥檃tt茅nuent.

Parke Bancorp (PKBK) verzeichnete solide Ergebnisse im zweiten Quartal 2025. Der Nettogewinn stieg im Jahresvergleich um 28 % auf 8,3 Millionen US-Dollar, wodurch das verw盲sserte Ergebnis je Aktie auf 0,69 US-Dollar (vorher 0,53 US-Dollar) anstieg. F眉r die sechsmonatige Periode legten die Gewinne um 27 % auf 16,1 Millionen US-Dollar zu, entsprechend 1,34 US-Dollar je verw盲sserter Aktie.

  • Bilanzwachstum: Die Gesamtaktiva erreichten 2,17 Milliarden US-Dollar (+1,3 % gegen眉ber Dezember 2024). Die Nettokredite wuchsen um 3,5 % auf 1,90 Milliarden US-Dollar, w盲hrend die Einlagen um 3,8 % auf 1,69 Milliarden US-Dollar stiegen. Die FHLB-Kredite wurden von 145 Millionen auf 100 Millionen US-Dollar reduziert.
  • Umsatz & Margen: Die Nettozinsertr盲ge stiegen im Jahresvergleich um 25 % auf 17,9 Millionen US-Dollar und 眉bertrafen damit den Anstieg der nicht zinstragenden Aufwendungen um 7 %. H枚here Finanzierungskosten lie脽en die Zinsaufwendungen im Quartal um 8 % auf 17,2 Millionen US-Dollar steigen, doch das Kreditwachstum hielt die Nettozinsertr盲ge stabil. Die sonstigen Ertr盲ge sanken um 32 % auf 0,8 Millionen US-Dollar.
  • 碍谤别诲颈迟辩耻补濒颈迟盲迟: Die R眉ckstellungen f眉r Kreditverluste stiegen auf 33,8 Millionen US-Dollar (1,74 % der Kredite) nach einer R眉ckstellung von 0,98 Millionen US-Dollar. Die notleidenden Kredite sanken auf 11,2 Millionen US-Dollar (0,58 % der Kredite), und 眉berf盲llige Kredite 眉ber 90 Tage gingen leicht zur眉ck.
  • Kapital & Aktion盲rsrenditen: Das Eigenkapital wuchs um 4 % auf 312,2 Millionen US-Dollar und unterst眉tzt einen gesch盲tzten materiellen Buchwert von etwa 26 US-Dollar. Dividenden von 0,18 US-Dollar im zweiten Quartal und 0,36 US-Dollar im Jahresverlauf wurden ausgesch眉ttet; bevorzugte Dividenden beliefen sich auf 10.000 US-Dollar im Jahresverlauf.

Fazit: Starkes Kreditwachstum und steigende Asset-Renditen kompensierten h枚here Einlagenkosten und f眉hrten zu einem zweistelligen Gewinnwachstum je Aktie. Die Verm枚gensqualit盲t bleibt stabil, und der Zufluss von Einlagen reduzierte die Abh盲ngigkeit von Wholesale-Finanzierungen, was die Bank gut positioniert, falls der Druck auf die Zinss盲tze nachl盲sst.

Positive
  • EPS up 30% YoY to $0.69, signaling strong profitability momentum.
  • Loans grew 3.5% since year-end, providing revenue tailwind.
  • Deposit base expanded 3.8%, reducing reliance on wholesale funding.
  • Non-performing loans fell 5% to $11.2 m, improving asset quality.
  • Equity increased 4%, enhancing capital ratios and tangible book value.
Negative
  • Interest expense rose 8% YoY, reflecting competitive deposit pricing.
  • Non-interest income dropped 32%, limiting revenue diversification.
  • Higher CRE and construction concentrations elevate cyclical credit risk.

Insights

TL;DR 鈥� Loan growth, margin resilience and stable credit drive a clear earnings beat.

PKBK delivered 30% EPS growth despite elevated funding costs. Net loans expanded 3.5% in six months, heavily weighted to CRE and resi investment property, sustaining interest income. Deposit growth (+$62 m) allowed $45 m in FHLB pay-downs, lowering longer-term funding costs. Fee income is light and fell 32%, a modest drag, but expense discipline kept the efficiency ratio roughly flat. Non-performing loans ticked down; ACL coverage (1.74%) looks adequate given 0.6% NPL ratio. Book value rose 4%; shares now trade near 1.0脳 TBV, leaving upside if credit stays benign. Overall impact positive.

TL;DR 鈥� Credit metrics stable; rising deposit costs warrant monitoring.

While NPLs declined, watch-list exposures (OAEM/Substandard) increased within commercial segments, prompting a $0.98 m provision and 4% ACL build. Concentrations in non-owner-occupied CRE (23% of loans) and construction (8%) grew, elevating sensitivity to property values. Deposit repricing remains the key risk: interest on deposits surged 11% YoY to $15.1 m, compressing incremental margin. A 100 bp rate cut could pressure funding costs slower than asset yields, trimming NII. Liquidity is adequate with 11% cash/interest-bearing bank balances, but further core growth is essential as FHLB capacity moderates. Net overall risk neutral.

Parke Bancorp (PKBK) ha riportato solidi risultati nel secondo trimestre del 2025. L'utile netto 猫 cresciuto del 28% su base annua, raggiungendo 8,3 milioni di dollari, con un utile per azione diluito salito a 0,69$ (rispetto a 0,53$). Nel semestre, gli utili sono aumentati del 27% a 16,1 milioni di dollari, pari a 1,34$ per azione diluita.

  • Crescita del bilancio: Gli asset totali hanno raggiunto 2,17 miliardi di dollari (+1,3% rispetto a dicembre 2024). I prestiti netti sono aumentati del 3,5% a 1,90 miliardi di dollari, mentre i depositi sono saliti del 3,8% a 1,69 miliardi di dollari. I prestiti FHLB sono stati ridotti a 100 milioni di dollari da 145 milioni.
  • Ricavi e margini: Il reddito netto da interessi 猫 aumentato del 25% su base annua a 17,9 milioni di dollari, superando l'aumento del 7% delle spese non da interessi. I maggiori costi di finanziamento hanno fatto salire le spese per interessi trimestrali dell'8% a 17,2 milioni, ma la crescita dei prestiti ha mantenuto forte il reddito netto da interessi. I ricavi non da interessi sono diminuiti del 32% a 0,8 milioni.
  • Qualit脿 del credito: Le riserve per perdite su crediti sono salite a 33,8 milioni di dollari (1,74% dei prestiti) dopo una svalutazione di 0,98 milioni. I prestiti non performanti sono scesi a 11,2 milioni (0,58% dei prestiti), e i crediti scaduti da oltre 90 giorni sono diminuiti leggermente.
  • Capitale e ritorni per gli azionisti: Il patrimonio netto 猫 cresciuto del 4% a 312,2 milioni di dollari, supportando un valore contabile tangibile stimato di circa 26$. Sono stati distribuiti dividendi per azione di 0,18$ nel secondo trimestre e 0,36$ nel semestre; i dividendi privilegiati sono stati di 10 mila dollari nel semestre.

Conclusione: La forte crescita dei prestiti e l鈥檃umento dei rendimenti degli asset hanno compensato i maggiori costi dei depositi, portando a un鈥檈spansione a doppia cifra dell鈥檜tile per azione. La qualit脿 degli asset rimane stabile e l鈥檃umento dei depositi ha ridotto la dipendenza dal finanziamento all鈥檌ngrosso, posizionando bene la banca nel caso in cui le pressioni sui tassi si attenuassero.

Parke Bancorp (PKBK) present贸 resultados s贸lidos en el segundo trimestre de 2025. La utilidad neta aument贸 un 28% interanual hasta 8,3 millones de d贸lares, elevando las ganancias diluidas por acci贸n a 0,69$ (frente a 0,53$). En el periodo de seis meses, las ganancias crecieron un 27% hasta 16,1 millones de d贸lares, o 1,34$ por acci贸n diluida.

  • Crecimiento del balance: Los activos totales alcanzaron 2,17 mil millones de d贸lares (+1,3% respecto a diciembre de 2024). Los pr茅stamos netos aumentaron un 3,5% hasta 1,90 mil millones, mientras que los dep贸sitos subieron un 3,8% hasta 1,69 mil millones. Los pr茅stamos FHLB se redujeron a 100 millones desde 145 millones.
  • Ingresos y m谩rgenes: Los ingresos netos por intereses crecieron un 25% interanual hasta 17,9 millones, superando el aumento del 7% en gastos no relacionados con intereses. Los mayores costos de financiamiento elevaron los gastos por intereses trimestrales un 8% hasta 17,2 millones, pero el crecimiento de pr茅stamos mantuvo fuerte el ingreso neto por intereses. Los ingresos no relacionados con intereses cayeron un 32% hasta 0,8 millones.
  • Calidad crediticia: La provisi贸n para p茅rdidas crediticias aument贸 a 33,8 millones (1,74% de los pr茅stamos) tras una provisi贸n de 0,98 millones. Los pr茅stamos en mora disminuyeron a 11,2 millones (0,58% de los pr茅stamos), y los atrasos mayores a 90 d铆as bajaron ligeramente.
  • Capital y retornos para accionistas: El patrimonio creci贸 un 4% hasta 312,2 millones, apoyando un valor tangible en libros estimado de aproximadamente 26$. Se pagaron dividendos por acci贸n de 0,18$ en el segundo trimestre y 0,36$ en lo que va del a帽o; los dividendos preferentes totalizaron 10 mil d贸lares en el a帽o.

颁辞苍肠濒耻蝉颈贸苍: El s贸lido crecimiento de pr茅stamos y el aumento en los rendimientos de activos compensaron los mayores costos de dep贸sitos, impulsando una expansi贸n de ganancias por acci贸n de dos d铆gitos. La calidad de los activos se mantiene estable y el aumento de dep贸sitos redujo la dependencia del financiamiento mayorista, posicionando bien al banco si las presiones sobre las tasas disminuyen.

韺岉伂 氡呾綌頂�(PKPK)電� 2025雲� 2攵勱赴鞐� 瓴碃頃� 鞁れ爜鞚� 氚滍憸頄堨姷雼堧嫟. 靾滌澊鞚奠潃 鞝勲厔 雽�牍� 28% 歃濌皜頃� 830毵� 雼煬毳� 旮半頄堨溂氅�, 頋劃 欤茧嫻靾滌澊鞚�(EPS)鞚� 0.69雼煬搿� 靸侅姽頄堨姷雼堧嫟(鞚挫爠 0.53雼煬 雽�牍�). 6臧滌洈 霃欖晥鞚� 鞚挫澋鞚� 27% 歃濌皜頃� 1,610毵� 雼煬, 頋劃 欤茧嫻 1.34雼煬毳� 旮半頄堨姷雼堧嫟.

  • 雽�彀寑臁绊憸 靹膘灔: 齑� 鞛愳偘鞚� 21鞏� 7觳滊 雼煬鞐� 雼晿氅�(2024雲� 12鞗� 雽�牍� 1.3% 歃濌皜), 靾滊寑於滉笀鞚� 19鞏� 雼煬搿� 3.5% 頇曤寑霅橃棃鞀惦媹雼�. 鞓堦笀鞚� 16鞏� 9觳滊 雼煬搿� 3.8% 歃濌皜頄堨溂氅�, FHLB 彀瀰旮堨潃 1鞏� 雼煬搿� 1鞏� 4,500毵� 雼煬鞐愳劀 欷勳棃鞀惦媹雼�.
  • 靾橃澋 氚� 毵堨: 靾滌澊鞛愳垬鞚奠潃 鞝勲厔 雽�牍� 25% 歃濌皜頃� 1,790毵� 雼煬毳� 旮半頄堨溂氅�, 牍勳澊鞛� 牍勳毄鞚� 7% 歃濌皜鞐� 攴胳长鞀惦媹雼�. 鞛愱笀 臁半嫭 牍勳毄 歃濌皜搿� 攵勱赴氤� 鞚挫瀽 牍勳毄鞚� 8% 靸侅姽頃� 1,720毵� 雼煬臧� 霅橃棃鞙茧倶, 雽�於� 歃濌皜 雿曤秳鞐� 靾滌澊鞛愳垬鞚奠潃 瓴碃頄堨姷雼堧嫟. 牍勳澊鞛� 靾橃澋鞚� 32% 臧愳唽頃� 80毵� 雼煬鞓�鞀惦媹雼�.
  • 鞁犾毄 頀堨: 雽�靻愳订雼龟笀鞚� 3,380毵� 雼煬(雽�於滌潣 1.74%)搿� 歃濌皜頄堨溂氅�, 98毵� 雼煬鞚� 於╇嫻旮堨澊 氚橃榿霅橃棃鞀惦媹雼�. 攵�鞁る寑於滌潃 1,120毵� 雼煬(雽�於滌潣 0.58%)搿� 臧愳唽頄堦碃, 90鞚� 鞚挫儊 鞐办泊霅� 雽�於滊弰 靻岉彮 欷勳棃鞀惦媹雼�.
  • 鞛愲掣 氚� 欤检＜ 靾橃澋: 鞛愲掣鞚� 4% 歃濌皜頃� 3鞏� 1,220毵� 雼煬搿�, 於旍爼 鞙犿槙 鞛ル秬臧�旃橂姅 鞎� 26雼煬鞛呺媹雼�. 2攵勱赴鞐� 欤茧嫻 0.18雼煬, 鞐办磮 鞚错泟 0.36雼煬鞚� 氚半嫻旮堨潉 歆�旮夗枅鞙茧┌, 鞖办劆欤� 氚半嫻旮堨潃 鞐办磮 鞚错泟 1毵� 雼煬鞓�鞀惦媹雼�.

鞖旍暯: 臧曤牓頃� 雽�於� 靹膘灔瓿� 鞛愳偘 靾橃澋毳� 頇曤寑臧� 雿� 雴掛潃 鞓堦笀 牍勳毄鞚� 靸侅噭頃橂┌ 霊� 鞛愲靾� EPS 靹膘灔鞚� 鞚措亴鞐堨姷雼堧嫟. 鞛愳偘 頀堨鞚� 鞎堨爼鞝侅澊氅�, 鞓堦笀 鞙犾瀰鞙茧 霃勲Г 鞛愱笀 臁半嫭 鞚橃〈霃勱皜 臧愳唽頃� 旮堧Μ 鞎曤牓鞚� 鞕勴檾霅� 瓴届毎 鞚�頄夓潣 鞛呾臧� 瓴碃頃╇媹雼�.

Parke Bancorp (PKBK) a publi茅 de solides r茅sultats au deuxi猫me trimestre 2025. Le b茅n茅fice net a augment茅 de 28 % en glissement annuel pour atteindre 8,3 millions de dollars, portant le BPA dilu茅 脿 0,69 $ (contre 0,53 $). Sur six mois, les b茅n茅fices ont progress茅 de 27 % 脿 16,1 millions de dollars, soit 1,34 $ par action dilu茅e.

  • Croissance du bilan : Le total des actifs a atteint 2,17 milliards de dollars (+1,3 % par rapport 脿 d茅cembre 2024). Les pr锚ts nets ont augment茅 de 3,5 % 脿 1,90 milliard de dollars, tandis que les d茅p么ts ont progress茅 de 3,8 % 脿 1,69 milliard de dollars. Les emprunts FHLB ont 茅t茅 r茅duits 脿 100 millions de dollars contre 145 millions auparavant.
  • Revenus et marges : Le produit net d鈥檌nt茅r锚ts a augment茅 de 25 % en glissement annuel 脿 17,9 millions de dollars, d茅passant la hausse de 7 % des charges hors int茅r锚ts. Les co没ts de financement plus 茅lev茅s ont fait augmenter les charges d鈥檌nt茅r锚ts trimestrielles de 8 % 脿 17,2 millions, mais la croissance des pr锚ts a maintenu un produit net d鈥檌nt茅r锚ts solide. Les revenus hors int茅r锚ts ont chut茅 de 32 % 脿 0,8 million.
  • Qualit茅 du cr茅dit : La provision pour pertes sur pr锚ts a augment茅 脿 33,8 millions de dollars (1,74 % des pr锚ts) apr猫s une dotation de 0,98 million. Les pr锚ts non performants ont diminu茅 脿 11,2 millions (0,58 % des pr锚ts), et les cr茅ances en retard de plus de 90 jours ont l茅g猫rement baiss茅.
  • Capital et rendements pour les actionnaires : Les capitaux propres ont cr没 de 4 % 脿 312,2 millions de dollars, soutenant une valeur comptable tangible estim茅e 脿 environ 26 $. Des dividendes par action de 0,18 $ au T2 et 0,36 $ depuis le d茅but de l鈥檃nn茅e ont 茅t茅 vers茅s ; les dividendes privil茅gi茅s ont totalis茅 10 000 $ depuis le d茅but de l鈥檃nn茅e.

Conclusion : La forte croissance des pr锚ts et l鈥櫭﹍argissement des rendements des actifs ont compens茅 la hausse des co没ts des d茅p么ts, entra卯nant une expansion 脿 deux chiffres du BPA. La qualit茅 des actifs reste stable et les entr茅es de d茅p么ts ont r茅duit la d茅pendance au financement de gros, positionnant bien la banque si les pressions sur les taux s鈥檃tt茅nuent.

Parke Bancorp (PKBK) verzeichnete solide Ergebnisse im zweiten Quartal 2025. Der Nettogewinn stieg im Jahresvergleich um 28 % auf 8,3 Millionen US-Dollar, wodurch das verw盲sserte Ergebnis je Aktie auf 0,69 US-Dollar (vorher 0,53 US-Dollar) anstieg. F眉r die sechsmonatige Periode legten die Gewinne um 27 % auf 16,1 Millionen US-Dollar zu, entsprechend 1,34 US-Dollar je verw盲sserter Aktie.

  • Bilanzwachstum: Die Gesamtaktiva erreichten 2,17 Milliarden US-Dollar (+1,3 % gegen眉ber Dezember 2024). Die Nettokredite wuchsen um 3,5 % auf 1,90 Milliarden US-Dollar, w盲hrend die Einlagen um 3,8 % auf 1,69 Milliarden US-Dollar stiegen. Die FHLB-Kredite wurden von 145 Millionen auf 100 Millionen US-Dollar reduziert.
  • Umsatz & Margen: Die Nettozinsertr盲ge stiegen im Jahresvergleich um 25 % auf 17,9 Millionen US-Dollar und 眉bertrafen damit den Anstieg der nicht zinstragenden Aufwendungen um 7 %. H枚here Finanzierungskosten lie脽en die Zinsaufwendungen im Quartal um 8 % auf 17,2 Millionen US-Dollar steigen, doch das Kreditwachstum hielt die Nettozinsertr盲ge stabil. Die sonstigen Ertr盲ge sanken um 32 % auf 0,8 Millionen US-Dollar.
  • 碍谤别诲颈迟辩耻补濒颈迟盲迟: Die R眉ckstellungen f眉r Kreditverluste stiegen auf 33,8 Millionen US-Dollar (1,74 % der Kredite) nach einer R眉ckstellung von 0,98 Millionen US-Dollar. Die notleidenden Kredite sanken auf 11,2 Millionen US-Dollar (0,58 % der Kredite), und 眉berf盲llige Kredite 眉ber 90 Tage gingen leicht zur眉ck.
  • Kapital & Aktion盲rsrenditen: Das Eigenkapital wuchs um 4 % auf 312,2 Millionen US-Dollar und unterst眉tzt einen gesch盲tzten materiellen Buchwert von etwa 26 US-Dollar. Dividenden von 0,18 US-Dollar im zweiten Quartal und 0,36 US-Dollar im Jahresverlauf wurden ausgesch眉ttet; bevorzugte Dividenden beliefen sich auf 10.000 US-Dollar im Jahresverlauf.

Fazit: Starkes Kreditwachstum und steigende Asset-Renditen kompensierten h枚here Einlagenkosten und f眉hrten zu einem zweistelligen Gewinnwachstum je Aktie. Die Verm枚gensqualit盲t bleibt stabil, und der Zufluss von Einlagen reduzierte die Abh盲ngigkeit von Wholesale-Finanzierungen, was die Bank gut positioniert, falls der Druck auf die Zinss盲tze nachl盲sst.

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Table of Contents

927

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

Form 10-Q

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2025.

OR

​

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ________________________to _________________________

Commission file number 0-04041

ALLIENT INC.

(Exact name of Registrant as Specified in Its Charter)

​

​

​

Colorado

    

84-0518115

(State or other jurisdiction of incorporation or organization)

​

(I.R.S. Employer Identification No.)

​

​

​

495 Commerce Drive, Amherst, New York
(Address of principal executive offices)

​

14228
(Zip Code)

​

(716) 242-8634

(Registrant’s Telephone Number, Including Area Code)

​

Securities registered pursuant to Section 12(b) of the Act:

​

Title of each class

    

Trading Symbol

    

Name of each exchange on which registered

Common stock

​

ALNT

​

NASDAQ

​

Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past ninety (90) days. Yes  ⌧  No  ◻

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit such files).  Yes  ⌧  No  ◻

Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Securities Exchange Act.

​

Large accelerated filer ◻

Accelerated filer ⌧

Non-accelerated filer ◻

​

Smaller reporting company ☐

Emerging growth company ☐

​

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ◻

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes  ☐  No  ⌧

Number of Shares of the only class of Common Stock outstanding: 16,946,976 as of August 6, 2025

​

​

​

Table of Contents

ALLIENT INC.

INDEX

​

PART I. FINANCIAL INFORMATION

Page No.

​

​

​

Item 1.

Financial Statements

 

​

​

​

Condensed Consolidated Balance Sheets – Unaudited

1

​

​

​

Condensed Consolidated Statements of Income and Comprehensive Income (Loss) – Unaudited

2

​

​

​

Condensed Consolidated Statements of Stockholders’ Equity – Unaudited

3

​

​

​

Condensed Consolidated Statements of Cash Flows – Unaudited

4

​

​

​

Notes to Condensed Consolidated Financial Statements – Unaudited

5

​

​

​

Item 2.

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

20

​

​

​

Item 3.

Quantitative and Qualitative Disclosures About Market Risk

28

​

​

​

Item 4.

Controls and Procedures

29

​

​

PART II. OTHER INFORMATION

30

​

​

​

Item 1A.

Risk Factors

30

​

​

​

​

​

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds

30

​

​

​

​

Item 5.

Other Information

30

​

​

​

​

Item 6.

Exhibits

31

​

​

​

​

Table of Contents

​

ALLIENT INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except per share data)

(Unaudited)

​

​

​

​

​

​

​

​

​

​

June 30, 

​

December 31, 

​

    

2025

    

2024

Assets

​

​

​

​

​

​

Current assets:

​

​

​

​

​

​

Cash and cash equivalents

​

$

49,915

​

$

36,102

Trade receivables, net of provision for credit losses of $1,072 and $1,628 at June 30, 2025 and December 31, 2024, respectively

​

​

84,911

​

​

78,774

Inventories

​

 

106,548

​

 

111,517

Prepaid expenses and other assets

​

 

12,564

​

 

11,187

Total current assets

​

 

253,938

​

 

237,580

Property, plant, and equipment, net

​

 

63,947

​

 

65,685

Deferred income taxes

​

 

8,820

​

 

9,116

Intangible assets, net

​

 

94,895

​

 

99,671

Goodwill

​

 

134,610

​

 

131,789

Operating lease assets

​

​

23,319

​

​

23,748

Other long-term assets

​

 

8,535

​

 

8,192

Total Assets

​

$

588,064

​

$

575,781

Liabilities and Stockholders’ Equity

​

​

​

​

​

​

Current liabilities:

​

​

​

​

​

​

Accounts payable

​

$

33,242

​

$

27,156

Accrued liabilities

​

 

34,574

​

 

30,221

Total current liabilities

​

 

67,816

​

 

57,377

Long-term debt

​

 

202,218

​

 

224,177

Deferred income taxes

​

 

3,599

​

 

3,642

Pension and post-retirement obligations

​

 

1,613

​

 

1,667

Operating lease liabilities

​

​

18,683

​

​

19,417

Other long-term liabilities

​

​

5,073

​

​

4,647

Total liabilities

​

 

299,002

​

 

310,927

Stockholders’ Equity:

​

​

​

​

​

​

Common stock, no par value, authorized 50,000 shares; 16,938 and 16,810 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively

​

 

112,587

​

 

111,024

Preferred stock, par value $1.00 per share, authorized 5,000 shares; no shares issued or outstanding

​

 

—

​

 

—

Retained earnings

​

 

185,187

​

 

177,013

Accumulated other comprehensive loss

​

 

(8,712)

​

 

(23,183)

Total stockholders’ equity

​

 

289,062

​

 

264,854

Total Liabilities and Stockholders’ Equity

​

$

588,064

​

$

575,781

​

See accompanying notes to condensed consolidated financial statements.

​

1

Table of Contents

ALLIENT INC.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (LOSS)

(In thousands, except per share data)

(Unaudited)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

For the three months ended

​

For the six months ended

​

​

June 30, 

​

June 30, 

​

    

2025

    

2024

    

2025

    

2024

Revenues

​

$

139,578

​

$

136,032

​

$

272,381

​

$

282,745

Cost of goods sold

​

 

93,222

​

 

95,356

​

 

183,273

​

 

194,692

Gross profit

​

 

46,356

​

 

40,676

​

 

89,108

​

 

88,053

Operating costs and expenses:

​

​

​

​

​

​

​

​

​

​

​

​

Selling

​

 

6,026

​

 

6,662

​

 

12,040

​

 

12,960

General and administrative

​

 

14,439

​

 

14,142

​

 

28,252

​

 

28,582

Engineering and development

​

 

9,944

​

 

10,293

​

 

19,498

​

 

21,360

Acquisition and integration-related costs

​

 

23

​

 

100

​

 

23

​

 

457

Restructuring and business realignment costs

​

​

1,122

​

​

1,469

​

​

2,621

​

​

1,469

Amortization of intangible assets

​

 

3,125

​

 

3,131

​

 

6,218

​

 

6,246

Total operating costs and expenses

​

 

34,679

​

 

35,797

​

 

68,652

​

 

71,074

Operating income

​

 

11,677

​

 

4,879

​

 

20,456

​

 

16,979

Other expense, net:

​

​

​

​

​

​

​

​

​

​

​

​

Interest expense

​

 

3,552

​

 

3,384

​

 

7,187

​

 

6,772

Other expense (income), net

​

 

823

​

 

46

​

 

1,507

​

 

(63)

Total other expense, net

​

 

4,375

​

 

3,430

​

 

8,694

​

 

6,709

Income before income taxes

​

 

7,302

​

 

1,449

​

 

11,762

​

 

10,270

Income tax provision

​

 

(1,685)

​

 

(299)

​

 

(2,588)

​

 

(2,218)

Net income

​

$

5,617

​

$

1,150

​

$

9,174

​

$

8,052

Basic earnings per share:

​

​

​

​

​

​

​

​

​

​

​

​

Earnings per share

​

$

0.34

​

$

0.07

​

$

0.55

​

$

0.49

Basic weighted average common shares

​

 

16,687

​

 

16,567

​

 

16,639

​

 

16,480

Diluted earnings per share:

​

​

​

​

​

​

​

​

​

​

​

​

Earnings per share

​

$

0.34

​

$

0.07

​

$

0.55

​

$

0.49

Diluted weighted average common shares

​

 

16,713

​

 

16,583

​

 

16,671

​

 

16,540

Net income

​

$

5,617

​

$

1,150

​

$

9,174

​

$

8,052

Other comprehensive income (loss):

​

​

​

​

​

​

​

​

​

​

​

​

Foreign currency translation adjustment

​

​

11,644

​

​

(1,178)

​

​

15,506

​

​

(5,586)

Loss on derivatives, net of tax

​

​

(410)

​

​

(511)

​

​

(1,036)

​

​

(589)

Comprehensive income (loss)

​

$

16,851

​

$

(539)

​

$

23,644

​

$

1,877

​

See accompanying notes to condensed consolidated financial statements.

​

2

Table of Contents

ALLIENT INC.

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY

(In thousands, except per share data)

(Unaudited)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Common Stock

  

​

​

Accumulated Other Comprehensive (Loss) Income

​

​

(In thousands except per share data)

Shares

    

Amount

    

Retained Earnings

    

Foreign Currency Translation Adjustments

    

Accumulated income (loss) on derivatives

    

Pension adjustments

    

Total Stockholders' Equity

Balances, December 31, 2024

16,810

​

$

111,024

​

$

177,013

​

$

(25,289)

​

$

1,975

​

$

131

​

$

264,854

Stock transactions under employee benefit stock plans

33

​

​

886

​

​

​

​

​

​

​

​

​

​

​

​

​

 

886

Issuance of restricted stock, net of forfeitures

135

​

​

(11)

​

​

​

​

​

​

​

​

​

​

​

​

​

 

(11)

Stock-based compensation expense

​

​

​

920

​

​

​

​

​

​

​

​

​

​

​

​

​

 

920

Shares withheld for payment of employee payroll taxes

(3)

​

​

(97)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

(97)

Comprehensive income (loss)

​

​

​

​

​

​

​

​

​

3,862

​

​

(856)

​

​

​

​

​

3,006

Tax effect of derivative transactions

​

​

​

​

​

​

​

​

​

​

​

​

231

​

​

​

​

​

231

Net income

​

​

 

​

​

 

3,557

​

​

​

​

​

​

​

​

​

​

 

3,557

Dividends to stockholders - $0.03

​

​

​

​

​

​

(518)

​

​

​

​

​

​

​

​

​

​

​

(518)

Balances, March 31, 2025

16,975

​

$

112,722

​

$

180,052

​

$

(21,427)

​

$

1,350

​

$

131

​

$

272,828

Issuance of restricted stock, net of forfeitures

6

​

​

(43)

​

​

​

​

​

​

​

​

​

​

​

​

​

 

(43)

Stock-based compensation expense

​

​

​

835

​

​

​

​

​

​

​

​

​

​

​

​

​

 

835

Shares withheld for payment of employee payroll taxes

(43)

​

​

(927)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

(927)

Comprehensive income (loss)

​

​

​

​

​

​

​

​

​

11,644

​

​

(540)

​

​

​

​

​

11,104

Tax effect of derivative transactions

​

​

​

​

​

​

​

​

​

​

​

​

130

​

​

​

​

​

130

Net income

​

​

​

​

​

​

5,617

​

​

​

​

​

​

​

​

​

​

​

5,617

Dividends to stockholders - $0.03

​

​

​

​

​

​

(482)

​

​

​

​

​

​

​

​

​

​

 

(482)

Balances, June 30, 2025

16,938

​

$

112,587

​

$

185,187

​

$

(9,783)

​

$

940

​

$

131

​

$

289,062

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Common Stock

  

​

​

Accumulated Other Comprehensive (Loss) Income

​

​

(In thousands except per share data)

Shares

    

Amount

    

Retained Earnings

    

Foreign Currency Translation Adjustments

    

Accumulated income (loss) on derivatives

    

Pension adjustments

    

Total Stockholders' Equity

Balances, December 31, 2023

16,308

​

$

95,937

​

$

165,813

​

$

(13,256)

​

$

3,425

​

$

(344)

​

$

251,575

Stock transactions under employee benefit stock plans

58

​

​

1,564

​

​

​

​

​

​

​

​

​

​

​

​

​

 

1,564

Issuance of restricted stock, net of forfeitures

167

​

​

(139)

​

​

​

​

​

​

​

​

​

​

​

​

​

 

(139)

Share issuance in connection with acquisition

203

​

​

6,250

​

​

​

​

​

​

​

​

​

​

​

​

​

​

6,250

Share issuance to settle contingent consideration

174

​

​

4,874

​

​

​

​

​

​

​

​

​

​

​

​

​

​

4,874

Stock-based compensation expense

​

​

​

1,211

​

​

​

​

​

​

​

​

​

​

​

​

​

 

1,211

Shares withheld for payment of employee payroll taxes

(4)

​

​

(121)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

(121)

Comprehensive (loss) income

​

​

​

​

​

​

​

​

​

(4,408)

​

​

(102)

​

​

​

​

​

(4,510)

Tax effect of derivative transactions

​

​

​

​

​

​

​

​

​

​

​

​

24

​

​

​

​

​

24

Net income

​

​

 

​

​

 

6,902

​

​

​

​

​

​

​

​

​

​

 

6,902

Dividends to stockholders - $0.03

​

​

​

​

​

​

(500)

​

​

​

​

​

​

​

​

​

​

​

(500)

Balances, March 31, 2024

16,906

​

$

109,576

​

$

172,215

​

$

(17,664)

​

$

3,347

​

$

(344)

​

$

267,130

Issuance of restricted stock, net of forfeitures

(23)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

 

—

Stock-based compensation expense

​

​

​

1,073

​

​

​

​

​

​

​

​

​

​

​

​

​

 

1,073

Shares withheld for payment of employee payroll taxes

(42)

​

​

(1,446)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

(1,446)

Comprehensive (loss) income

​

​

​

​

​

​

​

​

​

(1,178)

​

​

(673)

​

​

​

​

​

(1,851)

Tax effect of derivative transactions

​

​

​

​

​

​

​

​

​

​

​

​

162

​

​

​

​

​

162

Net income

​

​

​

​

​

​

1,150

​

​

​

​

​

​

​

​

​

​

​

1,150

Dividends to stockholders - $0.03

​

​

 

​

​

 

(503)

​

​

​

​

​

​

​

​

​

​

 

(503)

Balances, June 30, 2024

16,841

​

$

109,203

​

$

172,862

​

$

(18,842)

​

$

2,836

​

$

(344)

​

$

265,715

​

​

See accompanying notes to condensed consolidated financial statements.

3

Table of Contents

ALLIENT INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)

​

​

​

​

​

​

​

​

​

​

For the six months ended

​

​

June 30, 

​

    

2025

    

2024

Cash Flows From Operating Activities:

​

​

​

​

​

​

Net income

​

$

9,174

​

$

8,052

Adjustments to reconcile net income to net cash provided by operating activities

​

​

​

​

​

​

Depreciation and amortization

​

 

12,682

​

 

12,801

Deferred income taxes

​

 

61

​

 

18

Stock-based compensation expense

​

​

1,755

​

​

2,284

Debt issue cost amortization recorded in interest expense

​

​

323

​

​

261

Other

​

 

2,860

​

 

2,368

Changes in operating assets and liabilities, net of acquisitions:

​

​

​

​

​

​

Trade receivables

​

 

(3,594)

​

 

5,137

Inventories

​

 

7,125

​

 

941

Prepaid expenses and other assets

​

 

(459)

​

 

(461)

Accounts payable

​

 

5,107

​

 

(7,884)

Accrued liabilities

​

 

3,401

​

 

(6,140)

Net cash provided by operating activities

​

 

38,435

​

 

17,377

​

​

​

​

​

​

​

Cash Flows From Investing Activities:

​

​

​

​

​

​

Consideration paid for acquisitions, net of cash acquired

​

 

—

​

 

(25,231)

Purchase of property and equipment

​

​

(3,189)

​

​

(5,328)

Net cash used in investing activities

​

 

(3,189)

​

 

(30,559)

​

​

​

​

​

​

​

Cash Flows From Financing Activities:

​

​

​

​

​

​

Proceeds from issuance of long-term debt

​

 

—

​

 

76,898

Principal payments of long-term debt and finance lease obligations

​

​

(22,221)

​

​

(56,230)

Payment of contingent consideration

​

​

—

​

​

(2,450)

Payment of debt issuance costs

​

 

(41)

​

 

(2,329)

Dividends paid to stockholders

​

 

(1,000)

​

 

(1,008)

Tax withholdings related to net share settlements of restricted stock

​

​

(1,024)

​

​

(1,567)

Net cash (used in) provided by financing activities

​

 

(24,286)

​

 

13,314

Effect of foreign exchange rate changes on cash

​

 

2,853

​

 

(741)

Net increase (decrease) in cash and cash equivalents

​

 

13,813

​

 

(609)

Cash and cash equivalents at beginning of period

​

 

36,102

​

 

31,901

Cash and cash equivalents at end of period

​

$

49,915

​

$

31,292

​

​

​

​

​

​

​

Supplemental disclosure of cash flow information:

​

​

​

​

​

​

Stock issued for acquisitions

​

$

—

​

$

6,250

Stock issued to settle contingent consideration

​

$

—

​

$

4,874

Property, plant and equipment purchases in accounts payable or accrued expenses

​

$

203

​

$

941

Debt issuance costs in accounts payable or accrued expenses

​

$

—

​

$

164

Cash paid for interest

​

$

7,048

​

$

5,516

Cash paid for income taxes

​

$

4,054

​

$

5,504

​

See accompanying notes to condensed consolidated financial statements.

​

​

4

Table of Contents

ALLIENT INC.

UNAUDITED NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(In thousands, except per share data)

1.    BASIS OF PREPARATION AND PRESENTATION

Allient Inc. (“Allient” or the “Company”) is engaged in the business of designing, manufacturing, and selling precision motion, control, power and structural composites to provide integrated system solutions as well as individual products, to a broad spectrum of customers throughout the world primarily for the industrial, vehicle, medical, and aerospace and defense markets.

The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation.

The assets and liabilities of the Company’s foreign subsidiaries are translated into U.S. dollars using end of period exchange rates. Changes in reported amounts of assets and liabilities of foreign subsidiaries that occur as a result of changes in exchange rates between the foreign subsidiaries’ functional currencies and the U.S. dollar are included in foreign currency translation adjustment. Foreign currency translation adjustment is included in accumulated other comprehensive loss, a component of stockholders’ equity in the accompanying condensed consolidated statements of stockholders’ equity. Revenue and expense transactions use an average rate prevailing during the month of the related transaction. Transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency of each of the foreign subsidiaries are included in the results of operations as incurred in other expense, net.

The condensed consolidated financial statements included herein have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) and include all adjustments which are, in the opinion of management, necessary for a fair presentation. Certain information and footnote disclosures normally included in financial statements which are prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been condensed or omitted pursuant to such rules and regulations. The Company believes that the disclosures herein are adequate to make the information presented not misleading. The financial data for the interim periods may not necessarily be indicative of results to be expected for the year.

The preparation of financial statements in accordance with U.S. GAAP requires management to make certain estimates and assumptions. Such estimates and assumptions affect the reported amounts of assets and liabilities as well as disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ materially from those estimates.

It is suggested that the accompanying condensed consolidated financial statements be read in conjunction with the Consolidated Financial Statements and related Notes to such statements included in the Annual Report on Form 10-K for the year ended December 31, 2024 that was previously filed by the Company.

Recently Issued Accounting Pronouncements

In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures”. This enhances the disclosures around rate reconciliation, income taxes paid, and other related topics. The standard is effective for annual periods beginning after December 15, 2024. The Company is assessing the impact of adopting the standard on our consolidated financial statements.

In November 2024, the FASB issued ASU 2024-03, “Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40)”. This improves financial reporting by requiring that public business entities disclose additional information about specific expense categories in the notes to financial statements at interim and annual reporting periods. The amendments in this update are effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. The Company is assessing the impact of adopting the standard on our consolidated financial statements.

​

5

Table of Contents

ALLIENT INC.

UNAUDITED NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(In thousands, except per share data)

2.

ACQUISITIONS

On January 11, 2024, the Company acquired 100% of the outstanding shares of SNC Manufacturing Co., Inc. (a Wisconsin corporation) and Acutran de Mexico, S.A. de C.V. (a Mexican corporation), (collectively “SNC”), a premier designer and global manufacturer of electrical transformers serving blue-chip customers in defense, industrial automation, alternative power generation and energy, including electric utilities and renewable energy.

​

The purchase price consisted of $20,000 in cash paid at closing, subject to customary post-closing working capital adjustments. The purchase price allocation is now final.

​

The Company incurred $313 of transaction costs related to the acquisition during 2024, which are included in acquisition and integration-related costs on the condensed consolidated statements of income and comprehensive income (loss).

​

​

​

​

​

​

Cash and cash equivalents

    

$

881

Trade receivables

​

​

3,467

Inventories

​

​

8,600

Prepaid expenses and other assets

​

 

496

Property, plant, and equipment

​

 

4,258

Operating lease assets

​

​

378

Intangible assets

​

​

2,900

Goodwill

​

 

2,955

Other current liabilities

​

​

(3,188)

Deferred revenue

​

​

(55)

Operating lease liabilities

​

​

(378)

Net deferred income tax liabilities

​

​

(472)

Other noncurrent liabilities

​

​

(118)

Net purchase price

​

$

19,724

​

The fair values of the assets acquired were determined using one of three valuation approaches: market, income or cost. The selection of a particular method for a given asset depended on the reliability of available data and the nature of the asset, among other considerations. The market approach estimates the value for a subject asset based on available market pricing for comparable assets. The income approach estimates the value for a subject asset based on the present value of cash flows projected to be generated by the asset. The projected cash flows were discounted at a required rate of return that reflects the relative risk of the asset and the time value of money. The projected cash flows for each asset considered multiple factors from the perspective of a marketplace participant including revenue projections from existing customers, attrition trends, technology life-cycle assumptions, marginal tax rates and expected profit margins considering historical and expected margins. The cost approach estimates the value for a subject asset based on the cost to replace the asset and reflects the estimated reproduction or replacement cost for the asset, less an allowance for loss in value due to depreciation or obsolescence, with specific consideration given to economic obsolescence if indicated. These fair value measurement approaches are based on significant unobservable inputs, including management estimates and assumptions.

​

The intangible assets acquired consist of $1,500 of customers lists, $600 of trade name, and $800 of technology, which are being amortized over 12, 10, and 10 years, respectively. Goodwill generated is related to the assembled workforce, synergies between Allient’s other operations and SNC that are expected to occur as a result of the combined engineering knowledge, the ability of each of the operations to integrate each other’s products into more fully integrated system solutions, and Allient’s ability to utilize SNC’s management knowledge in providing complementary product offerings to the Company’s customers.

​

The goodwill resulting from the acquisition is not tax deductible.

​

On January 3, 2024, the final deferred acquisition payment for Spectrum Controls, Inc. (“Spectrum”) of $12,500 (comprised of 50% cash and 50% Company stock) was paid.

​

6

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ALLIENT INC.

UNAUDITED NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(In thousands, except per share data)

Unaudited Pro Forma Financial Information

​

The following unaudited pro forma financial information presents the combined results of operations if the SNC acquisition had occurred as of January 1, 2023:

​

​

​

​

​

​

​

​

​

​

​

Three months ended

​

Six months ended

​

​

​

June 30, 

​

June 30, 

​

​

    

2024

    

2024

​

Revenues

​

$

136,032

​

$

284,039

​

Income before income taxes

​

$

1,599

​

$

10,989

​

​

​

The pro forma information includes certain adjustments, including depreciation and amortization expense, interest expense, and certain other adjustments. The pro forma amounts do not reflect adjustments for anticipated operating efficiencies that the Company expects to achieve as a result of these acquisitions. The pro forma financial information is for informational purposes only and does not purport to present what the Company’s results would have been had these transactions actually occurred on the date presented or to project the combined company’s results of operations or financial position for any future period.

​

​

3.    REVENUE RECOGNITION

Performance Obligations

The Company considers control of most products to transfer at a single point in time when control is transferred to the customer, generally when the products are shipped in accordance with an agreement and/or purchase order. Control is defined as the ability to direct the use of and obtain substantially all of the remaining benefits of the product.

The Company satisfies its performance obligations under a contract with a customer by transferring goods and services in exchange for monetary consideration from the customer. The Company considers the customer’s purchase order, and the Company’s corresponding sales order acknowledgment as the contract with the customer. For some customers, control, and a sale, is transferred at a point in time when the product is delivered to a customer. For a limited number of contracts, for which revenue derived is not material in the periods presented, the Company recognizes revenue over time in proportion to costs incurred.

Sales, value add, and other taxes the Company collects concurrent with revenue-producing activities are excluded from revenue.

Nature of Goods and Services

The Company designs, manufactures, and sells precision motion, control, power, and structural components to provide integrated system solutions as well as individual products to end customers and original equipment manufacturers (“OEM’s”) through the Company’s own direct sales force and authorized manufacturers’ representatives and distributors. The Company’s products include brushed and brushless DC motors, brushless servo and torque motors, coreless DC motors, integrated brushless motor-drives, gearmotors, gearing, modular digital servo drives, motion controllers, incremental and absolute optical encoders, active and passive filters for power quality and harmonic issues, transformers, and other controlled motion-related products. The Company’s target markets include Industrial, Vehicle, Medical, and Aerospace & Defense. 

Determining the Transaction Price

The majority of the Company’s contracts have an original duration of less than one year. For these contracts, the Company applies the practical expedient and therefore does not consider the effects of the time value of money. For multiyear contracts, the Company uses judgment to determine whether there is a significant financing component. These contracts are generally those in which the customer has made an up-front payment. Contracts that management determines to include a significant financing component are discounted at the Company’s incremental borrowing rate. The Company incurs interest expense and accrues a contract liability. As the Company

7

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ALLIENT INC.

UNAUDITED NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(In thousands, except per share data)

satisfies performance obligations and recognizes revenue from these contracts, interest expense is recognized simultaneously. Management does not have any contracts that include a significant financing component as of June 30, 2025 and December 31, 2024.

Disaggregation of Revenue

The Company disaggregates revenue from contracts with customers into geographical regions and target markets. The Company determines that disaggregating revenue into these categories achieves the disclosure objective to depict how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors. As noted below in Note 18, Segment Information, the Company’s business consists of one reportable segment. Revenue by geographic region is based on point of shipment origin.

​

A disaggregation of revenue by target market and geography is provided below:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three months ended

​

Six months ended

​

​

June 30, 

​

June 30, 

Target Market

    

2025

    

2024

    

2025

    

2024

Industrial

​

$

65,455

​

$

63,484

​

$

127,881

​

$

133,078

Vehicle

​

​

26,721

​

​

28,662

​

​

49,694

​

​

63,316

Medical

​

 

20,045

​

 

19,235

​

 

39,147

​

 

38,321

Aerospace & Defense

​

 

20,961

​

 

18,477

​

 

41,997

​

 

35,295

Distribution and Other

​

 

6,396

​

 

6,174

​

 

13,662

​

 

12,735

Total

​

$

139,578

​

$

136,032

​

$

272,381

​

$

282,745

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three months ended

​

Six months ended

​

​

June 30, 

​

June 30, 

Geography

    

2025

    

2024

    

2025

    

2024

North America (primarily U.S.)

​

$

92,352

​

$

91,920

​

$

178,625

​

$

191,623

Europe

​

 

40,983

​

 

37,145

​

 

81,047

​

 

77,805

Asia-Pacific

​

 

6,243

​

 

6,967

​

 

12,709

​

 

13,317

Total

​

$

139,578

​

$

136,032

​

$

272,381

​

$

282,745

​

Contract Balances

When the timing of the Company’s delivery of product is different from the timing of the payments made by customers, the Company recognizes either a contract asset (performance precedes customer payment) or a contract liability (customer payment precedes performance). Typically, contracts are paid in arrears and are recognized as receivables after the Company considers whether a significant financing component exists.

The opening and closing balances of the Company’s contract liabilities are as follows:

​

​

​

​

​

​

​

​

​

    

June 30, 

​

December 31,

​

​

2025

​

2024

Contract liabilities in accrued liabilities

​

$

3,094

​

$

2,292

​

​

​

​

​

​

​

​

The difference between the opening and closing balances of the Company’s contract liabilities primarily results from the timing difference between the Company’s performance and the customer’s payment. In the six months ended June 30, 2025 and 2024, the Company recognized revenue of $868 and $822, respectively, that was included in the opening contract liabilities balance.

Significant Payment Terms

The Company’s contracts with its customers state the final terms of the sale, including the description, quantity, and price of each product or service purchased. Payments are typically due in full within 30-60 days of delivery. Since the customer agrees to a stated rate and price in the contract that do not vary over the contract, the majority of contracts do not contain variable consideration.

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ALLIENT INC.

UNAUDITED NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(In thousands, except per share data)

Returns, Refunds, and Warranties

In the normal course of business, the Company does not accept product returns unless the item is defective as manufactured. The Company establishes provisions for estimated returns and warranties. All contracts include a standard warranty clause to guarantee that the product complies with agreed specifications.

​

4.    INVENTORIES

Inventories include costs of materials, direct labor and manufacturing overhead, and are stated at the lower of cost (first-in, first-out basis) or net realizable value, as follows:

​

​

​

​

​

​

​

​

​

    

June 30, 

    

December 31, 

​

​

2025

​

2024

Parts and raw materials

​

$

78,219

​

$

78,725

Work-in-process

​

 

12,161

​

 

12,274

Finished goods

​

 

16,168

​

 

20,518

​

​

$

106,548

​

$

111,517

​

​

5.    PROPERTY, PLANT AND EQUIPMENT

Property, plant, and equipment is classified as follows:

​

​

​

​

​

​

​

​

​

​

​

    

​

    

June 30, 

    

December 31, 

​

​

Useful lives

​

2025

​

2024

Land

​

​

​

$

1,797

​

$

1,770

Building and improvements

 

5 - 39 years

​

 

29,798

​

 

29,161

Machinery, equipment, tools and dies

 

3 - 15 years

​

 

118,706

​

 

110,194

Construction in progress

​

​

​

​

1,918

​

​

2,856

Furniture, fixtures and other

 

3 - 10 years

​

 

26,057

​

 

25,270

​

​

​

​

 

178,276

​

 

169,251

Less accumulated depreciation

​

​

​

 

(114,329)

​

 

(103,566)

Property, plant, and equipment, net

​

​

​

$

63,947

​

$

65,685

​

Depreciation expense was $3,276 and $3,185 for the three months ended June 30, 2025 and 2024, respectively. For the six months ended June 30, 2025 and 2024, depreciation expense was approximately $6,464 and $6,355, respectively.

​

6.    GOODWILL

The change in the carrying amount of goodwill for the six months ended June 30, 2025 is as follows:

​

​

​

​

​

​

June 30, 

​

​

2025

Beginning balance

$

131,789

Effect of foreign currency translation

 

2,821

Ending balance

$

134,610

​

​

9

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ALLIENT INC.

UNAUDITED NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(In thousands, except per share data)

7.    INTANGIBLE ASSETS

​

Intangible assets on the Company’s condensed consolidated balance sheets consist of the following:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Weighted Average

​

June 30, 2025

​

December 31, 2024

​

    

Amortization

    

Gross

    

Accumulated

    

Net Book

    

Gross

    

Accumulated

    

Net Book

​

​

Period

​

Amount

​

Amortization

​

Value

​

Amount

​

Amortization

​

Value

Customer lists

 

14.1 years

​

$

118,116

​

$

(54,945)

​

$

63,171

​

$

116,370

​

$

(50,098)

​

$

66,272

Trade name

 

13.7 years

​

 

16,172

​

 

(9,099)

​

 

7,073

​

 

15,890

​

 

(8,564)

​

 

7,326

Design and technologies

 

10.5 years

​

 

42,315

​

 

(17,664)

​

 

24,651

​

 

41,390

​

 

(15,317)

​

 

26,073

Total

​

​

​

$

176,603

​

$

(81,708)

​

$

94,895

​

$

173,650

​

$

(73,979)

​

$

99,671

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Amortization expense for intangible assets was $3,125 and $3,131 for the three months ended June 30, 2025 and 2024, respectively. For the six months ended June 30, 2025 and 2024, amortization expense was $6,218 and $6,246, respectively.

Estimated future intangible asset amortization expense as of June 30, 2025 is as follows:

​

​

​

​

​

Year ending December 31, 

    

Total

​

​

Estimated

​

    

Amortization Expense

Remainder of 2025

​

​

6,276

2026

​

 

12,454

2027

​

​

12,011

2028

​

​

11,247

2029

​

​

9,608

Thereafter

​

 

43,299

Total estimated amortization expense

​

$

94,895

​

​

​

​

​

8.    STOCK-BASED COMPENSATION

Stock Incentive Plans

The Company’s Stock Incentive Plans provide for the granting of stock awards, including restricted stock, stock options and stock appreciation rights, to employees and non-employees, including directors of the Company.

Restricted Stock

For the six months ended June 30, 2025, 148,590 shares of unvested restricted stock were awarded at a weighted average market value of $23.68. Of the restricted shares granted, 71,326 shares have performance-based vesting conditions. The value of the shares expected to vest is amortized to compensation expense over the related service period, which is normally three years, or over the estimated performance period. Shares of unvested restricted stock are generally forfeited if a recipient leaves the Company before the vesting date. Shares that are forfeited become available for future awards.

The following is a summary of restricted stock activity for the six months ended June 30, 2025:

​

​

​

​

​

​

Number of

​

    

shares

Outstanding at beginning of period

 

236,340

Awarded

 

148,590

Vested

 

(120,219)

Forfeited

 

(5,579)

Outstanding at end of period

 

259,132

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ALLIENT INC.

UNAUDITED NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(In thousands, except per share data)

​

Stock-based compensation expense, net of forfeitures, of $835 and $1,073 was recorded for the three months ended June 30, 2025 and 2024, respectively. For the six months ended June 30, 2025 and 2024, stock-based compensation expense, net of forfeitures, of $1,755 and $2,284 was recorded, respectively.

​

9.    ACCRUED LIABILITIES

Accrued liabilities consist of the following:

​

​

​

​

​

​

​

​

​

​

June 30, 

​

December 31, 

​

    

2025

    

2024

Compensation and fringe benefits

​

$

14,850

​

$

13,134

Warranty reserve

​

 

2,301

​

 

1,966

Income taxes payable

​

​

387

​

​

1,472

Operating lease liabilities – current

​

​

5,370

​

​

5,088

Finance lease obligations – current

​

​

466

​

​

448

Contract liabilities

​

​

3,094

​

​

2,292

Restructuring related accruals

​

​

1,610

​

​

—

Other accrued expenses

​

 

6,496

​

 

5,821

​

​

$

34,574

​

$

30,221

​

In line with the Company’s Simplify to Accelerate NOW strategy, during the first quarter of 2025, the Company began to create a state-of-the-art Machining Center of Excellence at the facility in Dothan, Alabama. Assembly operations from Dothan have begun to be merged into facilities in Tulsa, Oklahoma and Reynosa, Mexico.

​

Costs associated with this realignment are expected to be approximately $4 to $5 million and relate primarily to employee severance and other personnel-related expenses. These expenses are expected to be substantially incurred and paid by the end of 2025.

​

Restructuring expenses for this initiative, which are included in restructuring and business realignment costs in the condensed consolidated statement of income and comprehensive income, are as follows:

​

​

​

​

​

​

​

​

​

​

Restructuring

​

    

related accruals

​

​

​

​

December 31, 2024

​

$

—

Expenses incurred

​

​

1,499

Payments

​

​

(354)

March 31, 2025

​

​

1,145

Expenses incurred

​

 

1,122

Payments

​

​

(657)

June 30, 2025

​

$

1,610

​

​

​

​

​

11

Table of Contents

ALLIENT INC.

UNAUDITED NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(In thousands, except per share data)

10.    DEBT OBLIGATIONS

Debt obligations consisted of the following:

​

​

​

​

​

​

​

​

​

​

June 30, 

​

December 31, 

​

    

2025

    

2024

Long-term Debt

​

​

​

​

​

​

Revolving Credit Facility, long-term (1)

​

$

146,962

​

$

168,962

Note Payable

​

​

50,000

​

​

50,000

Unamortized debt issuance costs

​

​

(2,663)

​

​

(2,945)

Finance lease obligations – noncurrent

​

​

7,919

​

​

8,160

Long-term debt

​

$

202,218

​

$

224,177

(1)

The effective interest rate on long-term debt obligations is 5.94% at June 30, 2025.

On March 1, 2024, the Company entered into a Third Amended and Restated Credit Agreement (the “2024 Amended Credit Agreement”) for a $280 million revolving credit facility (the “Revolving Facility”). The changes made to the Company’s previous credit facility by the 2024 Amended Credit Agreement include: i) providing for a $50 million accordion amount and ii) extending the term from February 12, 2025 to March 1, 2029. Additionally, the Company has entered into a $150 million fixed-rate private shelf facility (the “2024 Note Payable Agreement”) under which $50.0 million of borrowings occurred on March 21, 2024. These agreements, collectively, are referred to as the “2024 Credit and Note Payable Agreements”. Pursuant to the 2024 Note Payable Agreement, the Company may from time to time issue and sell, and the borrower may consider in its sole discretion the purchase of, in one or a series of transactions, senior notes of the Company in an aggregate principal amount of up to $150 million (“Shelf Notes”). The Shelf Notes will have a maturity date of no more than 10.5 years after the date of original issuance and may be issued through March 1, 2027, unless either party terminates such issuance right. Debt issuance costs of $3.2 million were incurred related to the 2024 Credit and Note Payable Agreements and are included within unamortized debt issuance costs noted above.

Borrowings under the Revolving Facility bear interest at the Term SOFR Rate (as defined in the 2024 Amended Credit Agreement) plus a margin of 1.25% to 2.50% or the Alternative Base Rate (as defined in the 2024 Amended Credit Agreement) plus a margin of 0.25% to 1.50%, in each case depending on the Company’s ratio of Funded Indebtedness (as defined in the 2024 Amended Credit Agreement) to Consolidated EBITDA (the “Leverage Ratio”). In addition, the Company is required to pay a commitment fee of between 0.15% and 0.325% quarterly on the unused portion of the Revolving Facility, also based on the Company’s Leverage Ratio.

Financial covenants under the 2024 Credit and Note Payable Agreements require the Company to maintain a minimum interest coverage ratio of at least 3.0:1.0 at the end of each fiscal quarter. In addition, the Company’s Leverage Ratio at the end of any fiscal quarter shall not be greater than 4.25:1.0 through December 31, 2024 or greater than 3.75 to 1.0 as of the end of any fiscal quarter thereafter; provided that the Company may elect to temporarily increase the Leverage Ratio by 0.5:1.0 following a material acquisition under the 2024 Credit and Note Payable Agreements. The 2024 Credit and Note Payable Agreements also include covenants and restrictions that limit the Company’s ability to incur additional indebtedness, merge, consolidate or sell all or substantially all of its assets and enter into transactions with an affiliate of the Company on other than an arms’ length transaction. These covenants, which are described more fully in the 2024 Credit and Note Payable Agreements, to which reference is made for a complete statement of the covenants, are subject to certain exceptions. The Company was in compliance with all covenants as of June 30, 2025.

The 2024 Credit and Note Payable Agreements also include customary events of default, including failure to pay principal, interest or fees when due, failure to comply with covenants, if any representation or warranty made by the Company is false or misleading in any material respect, default under certain other indebtedness, certain insolvency or receivership events affecting the Company and its subsidiaries, the occurrence of certain material judgments, the occurrence of certain ERISA events, the invalidity of the loan documents or a change in control of the Company. The amounts outstanding under the Revolving Facility may be accelerated upon certain events of default.

​

The obligations under the 2024 Credit and Note Payable Agreements are secured by substantially all of the Company’s non-realty assets and are fully and unconditionally guaranteed by certain of the Company’s subsidiaries.

12

Table of Contents

ALLIENT INC.

UNAUDITED NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(In thousands, except per share data)

On March 21, 2024, the Company issued and sold $50.0 million in aggregate principal amount of the Series A Senior Notes due March 21, 2031 (the “Series A Notes”). The Series A Notes were issued pursuant to the 2024 Note Payable Agreement. The Series A Notes represent senior promissory notes of the Company and will bear interest at 5.96% and will mature on March 21, 2031. Interest on the Series A Notes will be payable quarterly on the 21st day of March, June, September and December in each year, commencing on June 21, 2024. Interest is computed on the basis of a 360-day year composed of twelve 30-day months. There are no separate covenants relating to the Series A Notes. All additional borrowings are subject to the leverage ratio compliance. The Series A Notes may be prepaid at the option of the Company, in accordance with the terms of the 2024 Note Payable Agreement, at 100% of the principal amount to be prepaid plus accrued interest plus the defined “Make-Whole Amount,” if any. The Make-Whole Amount is an amount equal to the excess, if any, of the discounted value of the remaining schedule payments with respect to principal on the Series A Notes being prepaid over the amount of the prepaid principal.

As of June 30, 2025, the unused Revolving Facility was $133,038. The amount available to borrow under the 2024 Credit and Note Payable Agreements may be limited by the Company’s debt and EBITDA levels, which impacts its covenant calculations.

On October 22, 2024, the Company entered into a Second Amendment to the Third Amended and Restated Credit Agreement and a Second Amendment to the Note Purchase and Private Shelf Agreement (collectively, the “October 2024 Credit and Note Payable Amendments”). These amendments include provisions to increase the maximum Leverage Ratio to 4.5:1.0 for the quarter ending March 31, 2025 and June 30, 2025, 4.0:1.0 for the quarter ending September 30, 2025, and returning to 3.75:1.0 for the quarter ending December 31, 2025 and thereafter. From January 1, 2025 through September 30, 2025, borrowings under the Revolving Facility will bear interest at Term SOFR plus a margin of 2.50% and a commitment fee of 0.325% on the unused portion of the Revolving Facility. Also, from October 1, 2024 through September 30, 2025, the Series A Notes will bear interest at 6.46%.

​

11.    DERIVATIVE FINANCIAL INSTRUMENTS

The Company is exposed to certain risks arising from both its business operations and economic conditions. The Company principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Company manages economic risks, including interest rate, and foreign exchange risk primarily through the use of derivative financial instruments.

The Company enters into foreign currency contracts with 30-day maturities to hedge its short-term balance sheet exposure, primarily intercompany, that are denominated in currencies (Euro, Mexican Peso, New Zealand Dollar, Chinese Renminbi, Swedish Krona, Canadian Dollar) other than the subsidiary’s functional currency and are adjusted to current values using period-end exchange rates. The resulting gains or losses are recorded in other expense, net in the condensed consolidated statements of income and comprehensive income (loss). To minimize foreign currency exposure, the Company had foreign currency contracts with notional amounts of $35,579 and $30,945 at June 30, 2025 and December 31, 2024, respectively. The foreign currency contracts are recorded in the condensed consolidated balance sheets at fair value and resulting gains or losses are recorded in other expense (income), net in the condensed consolidated statements of income and comprehensive income (loss). During the three and six months ended June 30, 2025, the Company had gains of $1,193 and $1,070, respectively, and during the three and six months ended June 30, 2024, the Company had a gain of $31 and a loss of $81, respectively on foreign currency contracts which is included in other expense (income), net and generally offset the gains or losses from the foreign currency adjustments on the intercompany balances that are also included in other expense (income), net.

The Company’s objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements on its variable-rate debt. To accomplish this objective, the Company primarily uses interest rate swaps as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. In March 2022 the Company entered into an interest rate swap with a notional amount of $40,000 that matures in December 2026. In March 2023, the Company executed amendments to the existing swaps to amend the index on the interest rate derivatives from LIBOR to SOFR. These amendments had no material financial impact to the Company’s operations or financial position. In September 2024, the Company entered into an additional interest rate swap with a notional amount of $50,000 that matures in September 2027.

13

Table of Contents

ALLIENT INC.

UNAUDITED NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(In thousands, except per share data)

The changes in the fair value of derivatives designated and that qualify as cash flow hedges is recorded in accumulated other comprehensive loss and is subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. During 2025 and 2024, such derivatives were used to hedge the variable cash flows associated with existing variable-rate debt.

As of June 30, 2025, the Company estimates that $1,017 will be reclassified as a decrease to interest expense over the next twelve months related to its interest rate derivatives. The Company does not use derivatives for trading or speculative purposes.

The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the condensed consolidated balance sheets as of June 30, 2025 and December 31, 2024:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Asset Derivatives

​

​

​

​

Fair value as of:

Derivatives designated as

​

Balance Sheet

​

June 30, 

​

December 31, 

hedging instruments

    

Location

    

2025

    

2024

Foreign currency contracts

​

Prepaid expenses and other assets

​

$

105

​

$

—

Interest rate swaps

​

Other long-term assets

​

$

1,133

​

$

2,575

​

​

​

​

$

1,238

​

$

2,575

​

​

​

​

​

​

​

​

​

​

​

​

​

Liability Derivatives

​

​

​

​

Fair value as of:

Derivatives designated as

​

Balance Sheet

​

June 30, 

​

December 31, 

hedging instruments

    

Location

    

2025

    

2024

Foreign currency contracts

​

Accrued liabilities

​

$

—

​

$

137

​

The tables below present the effect of cash flow hedge accounting on other comprehensive income (loss) (“OCI”) for the three and six months ended June 30, 2025 and 2024:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Amount of pre-tax (loss) gain recognized

​

Amount of pre-tax (loss) gain recognized

​

​

in OCI on derivatives

​

in OCI on derivatives

Derivatives in cash flow hedging relationships

​

Three months ended June 30, 

​

Six months ended June 30, 

​

    

2025

    

2024

    

2025

    

2024

Interest rate swaps

​

$

(161)

​

$

360

​

$

(641)

​

$

1,295

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Amount of pre-tax gain reclassified

​

Amount of pre-tax gain reclassified

​

​

from accumulated OCI into income

​

from accumulated OCI into income

Location of gain reclassified

​

Three months ended June 30, 

​

Six months ended June 30, 

from accumulated OCI into income

​

2025

​

2024

    

2025

    

2024

​

​

​

​

​

​

​

​

​

​

​

​

​

Interest expense

​

$

379

​

$

1,033

​

$

755

​

$

2,069

​

The table below presents the line items that reflect the effect of the Company’s derivative financial instruments on the condensed consolidated statements of income and comprehensive income (loss) for the three and six months ended June 30, 2025 and 2024:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total amounts of income and expense

​

Total amounts of income and expense

​

​

​

​

line items presented that reflect the

​

line items presented that reflect the

​

​

​

​

effects of cash flow hedges recorded

​

effects of cash flow hedges recorded

​

​

​

​

Three months ended June 30, 

​

Six months ended June 30, 

Derivatives designated as hedging instruments

    

Income Statement Location

    

2025

    

2024

    

2025

    

2024

Interest rate swaps

 

Interest Expense

​

$

3,552

​

$

3,384

​

$

7,187

​

$

6,772

​

​

​

​

​

​

14

Table of Contents

ALLIENT INC.

UNAUDITED NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(In thousands, except per share data)

​

The tables below present a gross presentation, the effects of offsetting, and a net presentation of the Company’s derivatives as of June 30, 2025 and December 31, 2024. The net amounts of derivative assets or liabilities can be reconciled to the tabular disclosure of fair value. The tabular disclosure of fair value provides the location that derivative assets and liabilities are presented in the condensed consolidated balance sheets:

​

Derivative assets:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net amounts

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Gross amounts

​

of assets

​

Gross amounts not offset in the consolidated 

As of 

​

Gross amounts

​

offset in the

​

presented in the

​

balance sheets

June 30, 

​

of recognized

​

consolidated

​

consolidated

​

Financial

​

Cash collateral

​

​

​

2025

    

assets

    

balance sheets

    

balance sheets

    

instruments

    

received

    

Net amount

Derivatives

​

$

1,238

​

$

—

​

$

1,238

​

$

—

​

$

—

​

$

1,238

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net amounts

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Gross amounts

​

of assets

​

Gross amounts not offset in the consolidated 

As of 

​

Gross amounts

​

offset in the

​

presented in the

​

balance sheets

December 31, 

​

of recognized

​

consolidated

​

consolidated

​

Financial

​

Cash collateral

​

​

​

2024

    

assets

    

balance sheets

    

balance sheets

    

instruments

    

received

    

Net amount

Derivatives

​

$

2,575

​

$

—

​

$

2,575

​

$

—

​

$

—

​

$

2,575

​

Derivative liabilities:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net amounts

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Gross amounts

​

of liabilities

​

Gross amounts not offset in the consolidated 

As of 

​

Gross amounts

​

offset in the

​

presented in the

​

balance sheets

December 31, 

​

of recognized

​

consolidated

​

consolidated

​

Financial

​

Cash collateral

​

​

​

2024

    

liabilities

    

balance sheets

    

balance sheets

    

instruments

    

received

    

Net amount

Derivatives

​

$

137

​

$

—

​

$

137

​

$

—

​

$

—

​

$

137

​

​

The Company has agreements with each of its derivative counterparties that contain a provision where if the Company either defaults or is capable of being declared in default on any of its indebtedness, then the Company could also be declared in default on its derivative obligations.

​

12.   FAIR VALUE

Authoritative guidance defines fair value as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date.

The guidance establishes a framework for measuring fair value which utilizes observable and unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions. Preference is given to observable inputs.

These two types of inputs create the following three – level fair value hierarchy:

Level 1:

Quoted prices for identical assets or liabilities in active markets.

​

Level 2:

Quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; and model – derived valuations whose inputs or significant value drivers are observable.

​

Level 3:

Significant inputs to the valuation model that are unobservable.

​

​

15

Table of Contents

ALLIENT INC.

UNAUDITED NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(In thousands, except per share data)

The Company’s financial assets and liabilities include cash and cash equivalents, accounts receivable, debt obligations, accounts payable, and accrued liabilities. The carrying amounts reported in the condensed consolidated balance sheets for these assets and liabilities approximate their fair value because of the immediate or short-term maturities of these financial instruments.

The following tables presents the Company’s financial assets (liabilities) that are accounted for at fair value on a recurring basis as of June 30, 2025 and December 31, 2024, respectively, by level within the fair value hierarchy:

​

​

​

​

​

​

​

​

​

​

​

​

​

June 30, 2025

​

    

Level 1

    

Level 2

    

Level 3

Assets (liabilities)

​

​

​

​

​

​

​

​

​

Pension plan assets

​

$

6,430

​

$

—

​

$

—

Deferred compensation plan assets

​

 

4,900

​

 

—

​

 

—

Foreign currency hedge contracts, net

​

​

—

​

​

105

​

​

—

Interest rate swaps, net

​

 

—

​

 

1,133

​

 

—

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2024

​

    

Level 1

    

Level 2

    

Level 3

Assets (liabilities)

​

​

​

​

​

​

​

​

​

Pension plan assets

​

$

6,164

​

$

—

​

$

—

Deferred compensation plan assets

​

 

4,647

​

 

—

​

 

—

Foreign currency hedge contracts, net

​

 

—

​

 

(137)

​

 

—

Interest rate swaps, net

​

 

—

​

 

2,575

​

 

—

​

​

​

13.    INCOME TAXES

The income tax provision for interim periods is determined using an estimate of the annual effective tax rate, adjusted for discrete items, if any, that are taken into account in the relevant period. Each quarter, the estimate of the annual effective tax rate is updated, and if the estimated effective tax rate changes, a cumulative adjustment is made. There is potential for volatility of the effective tax rate due to several factors, including changes in the mix of the pre-tax income and the jurisdictions to which it relates, changes in tax laws, settlements with taxing authorities and foreign currency fluctuations.

​

The effective income tax rate was 23.1% and 20.6% for the three months ended June 30, 2025 and 2024, respectively. For the six months ended June 30, 2025 and 2024, the effective income tax rate was 22.0% and 21.6%, respectively.

On July 4, 2025, legislation commonly referred to as the One Big Beautiful Bill Act (“OBBBA”) was signed into law which, among other things, modifies the income tax treatment of research and development expenses, as well as includes revisions to bonus depreciation and international tax regimes. The Company is in the process of evaluating the financial implications of the OBBBA and will begin reflecting its effects in the third quarter of 2025.

​

14.    LEASES

The Company has operating leases for office space, manufacturing facilities and equipment, computer equipment and automobiles. Many leases include one or more options to renew, some of which include options to extend the leases for a long-term period, and some leases include options to terminate the leases within 30 days. In certain of the Company’s lease agreements, the rental payments are adjusted periodically to reflect actual charges incurred for capital area maintenance, utilities, inflation and/or changes in other indexes.

​

​

Supplemental cash flow information related to the Company’s operating and finance leases for the six months ended June 30, 2025

16

Table of Contents

ALLIENT INC.

UNAUDITED NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(In thousands, except per share data)

and 2024 was as follows:

​

​

​

​

​

​

​

​

​

​

June 30, 

​

​

2025

​

2024

Cash paid for operating leases

    

$

3,367

    

$

3,185

Cash paid for interest on finance lease obligations

    

$

195

    

$

205

Assets acquired under operating leases

​

$

1,385

​

$

858

Operating lease assets obtained in acquisitions

​

$

—

​

$

378

​

​

​

​

​

​

​

​

The Company’s finance lease obligations relate to a manufacturing facility. Finance lease assets of $7,261 and $7,577 as of June 30, 2025 and December 31, 2024, respectively, are included in property, plant and equipment, net. As of June 30, 2025, finance lease obligations of $466 are included in accrued liabilities and $7,919 are included in long-term debt on the condensed consolidated balance sheet. As of December 31, 2024, finance lease obligations of $448 are included in accrued liabilities and $8,160 are included in long-term debt on the condensed consolidated balance sheet.

​

The following table presents the maturity of the Company’s operating and finance lease liabilities as of June 30, 2025:

​

​

​

​

​

​

​

​

​

    

Operating Leases

​

Finance Leases

Remainder of 2025

​

 

3,234

​

 

416

2026

​

​

6,048

​

​

848

2027

​

​

5,284

​

​

867

2028

​

​

3,966

​

​

886

2029

​

​

2,735

​

​

906

Thereafter

​

 

5,836

​

 

6,977

Total undiscounted cash flows

​

$

27,103

​

$

10,900

Less: present value discount

​

​

(3,050)

​

​

(2,515)

Total lease liabilities

​

$

24,053

​

$

8,385

​

As of June 30, 2025, the Company has entered into leases for additional office space with future minimum lease payments of $4,817 that have yet to be commenced.

​

The Company has operating leases for certain facilities from companies for which a member of management is a part owner. In connection with such leases, the Company made fixed minimum lease payments to the lessor of $272 and $526 during the three and six months ended June 30, 2025 and $237 and $473 during the three and six months ended June 30, 2024, respectively, and is obligated to make payments of $545 during the remainder of 2025. Future fixed minimum lease payments under these leases as of June 30, 2025 are $6,956.

​

​

15.    ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME

Accumulated Other Comprehensive (Loss) Income (“AOCI”) for the three months ended June 30, 2025 and 2024 is comprised of the following:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Foreign Currency

​

​

​

​

​

Defined Benefit

​

​

​

Tax Effect of

​

Translation

​

​

​

​

    

Plan Liability

    

Cash Flow Hedges

    

Cash Flow Hedges

    

Adjustment

    

Total

At March 31, 2025

​

$

131

​

$

1,666

​

$

(316)

​

$

(21,427)

​

$

(19,946)

Unrealized (loss) gain on cash flow hedges

​

​

—

​

​

(161)

​

​

39

​

​

—

​

​

(122)

Amounts reclassified from AOCI

​

​

—

​

​

(379)

​

​

91

​

​

—

​

​

(288)

Foreign currency translation gain

​

​

—

​

​

—

​

​

—

​

​

11,644

​

​

11,644

At June 30, 2025

​

$

131

​

$

1,126

​

$

(186)

​

$

(9,783)

​

$

(8,712)

​

17

Table of Contents

ALLIENT INC.

UNAUDITED NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(In thousands, except per share data)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Foreign Currency

​

​

​

​

​

Defined Benefit

​

​

​

Tax Effect of

​

Translation

​

​

​

​

    

Plan Liability

    

Cash Flow Hedges

    

Cash Flow Hedges

    

Adjustment

    

Total

At March 31, 2024

​

$

(344)

​

$

4,329

​

$

(982)

​

$

(17,664)

​

$

(14,661)

Unrealized gain (loss) on cash flow hedges

​

​

—

​

​

360

​

​

(86)

​

​

—

​

​

274

Amounts reclassified from AOCI

​

​

—

​

​

(1,033)

​

​

248

​

​

—

​

​

(785)

Foreign currency translation loss

​

​

—

​

​

—

​

​

—

​

​

(1,178)

​

​

(1,178)

At June 30, 2024

​

$

(344)

​

$

3,656

​

$

(820)

​

$

(18,842)

​

$

(16,350)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Foreign Currency

​

​

​

​

​

Defined Benefit

​

​

​

Tax Effect of

​

Translation

​

​

​

​

    

Plan Liability

    

Cash Flow Hedges

    

Cash Flow Hedges

    

Adjustment

    

Total

At December 31, 2024

​

$

131

​

$

2,522

​

$

(547)

​

$

(25,289)

​

$

(23,183)

Unrealized (loss) gain on cash flow hedges

​

​

—

​

​

(641)

​

​

167

​

​

—

​

​

(474)

Amounts reclassified from AOCI

​

​

—

​

​

(755)

​

​

194

​

​

—

​

​

(561)

Foreign currency translation gain

​

​

—

​

​

—

​

​

—

​

​

15,506

​

​

15,506

At June 30, 2025

​

$

131

​

$

1,126

​

$

(186)

​

$

(9,783)

​

$

(8,712)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Foreign Currency

​

​

​

​

​

Defined Benefit

​

​

​

Tax Effect of

​

Translation

​

​

​

​

    

Plan Liability

    

Cash Flow Hedges

    

Cash Flow Hedges

    

Adjustment

    

Total

At December 31, 2023

​

$

(344)

​

$

4,431

​

$

(1,006)

​

$

(13,256)

​

$

(10,175)

Unrealized gain (loss) on cash flow hedges

​

​

—

​

​

1,295

​

​

(311)

​

​

—

​

​

984

Amounts reclassified from AOCI

​

​

—

​

​

(2,070)

​

​

497

​

​

—

​

​

(1,573)

Foreign currency translation gain

​

​

—

​

​

—

​

​

—

​

​

(5,586)

​

​

(5,586)

At June 30, 2024

​

$

(344)

​

$

3,656

​

$

(820)

​

$

(18,842)

​

$

(16,350)

​

​

The realized gains and losses relating to the Company’s interest rate swap hedges were reclassified from AOCI and included in interest expense in the condensed consolidated statements of income and comprehensive income (loss).

​

​

16.    DIVIDENDS PER SHARE

The Company declared a quarterly dividend of $0.03 per share in the first and second quarters of 2025 and 2024.

​

18

Table of Contents

ALLIENT INC.

UNAUDITED NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(In thousands, except per share data)

17.    EARNINGS PER SHARE

Basic and diluted weighted-average shares outstanding are as follows:

​

​

​

​

​

​

​

​

​

​

​

​

Three months ended

​

Six months ended

​

​

June 30, 

​

June 30, 

​

   

2025

    

2024

    

2025

    

2024

Basic weighted average shares outstanding

 

16,687

 

16,567

 

16,639

 

16,480

Dilutive effect of potential common shares

 

26

 

16

 

32

 

60

Diluted weighted average shares outstanding

 

16,713

 

16,583

 

16,671

 

16,540

​

​

​

​

​

​

​

​

​

​

For the three and six months ended June 30, 2025, the anti-dilutive common shares excluded from the calculation of diluted earnings per share were 55,000 and 64,000, respectively. For the three and six months ended June 30, 2024, the anti-dilutive common shares excluded from the calculation of diluted earnings per share were 21,000 and 67,000, respectively.

​

18.    SEGMENT INFORMATION

The Company operates in one segment for the manufacture and marketing of specialty-controlled motion products and solutions for end user and OEM applications. The Company’s chief operating decision maker (“CODM”) has been identified as the Chief Executive Officer and President, who reviews operating results to make decisions about allocating resources, monitoring budgets, and assessing performance for the entire Company. The measure of segment profit or loss utilized is consolidated net income. The CODM uses this measure to compare results to prior periods and during our budgeting and forecasting process to assess profitability and enable decision making. The reports reviewed by the CODM do not provide for any significant expense categories beyond those as reported on the consolidated statement of income and comprehensive income (loss). The accounting policies of the Company are described in Note 1 Significant Accounting Policies in the 2024 Form 10-K.

The CODM utilizes consolidated net income, which is available in our consolidated statements of income and comprehensive income (loss), as the measurement for assessing financial performance.

​

For the three months ended June 30, 2025 and 2024, revenue was comprised of 55% and 52%, respectively, shipped to U.S. customers. Revenue for the six months ended June 30, 2025 and 2024 was comprised of 54% and 55%, respectively, shipped to U.S. customers. The remainder of revenues for all periods were shipped to foreign customers, primarily in Europe, Canada, and Asia-Pacific.

Identifiable foreign fixed assets were $31,596 and $31,820 as of June 30, 2025 and December 31, 2024, respectively. Identifiable assets outside of the U.S. are attributable to Europe, China, Mexico, and Asia-Pacific.

For the three and six months ended June 30, 2025, no customers individually accounted for a material concentration of revenue nor accounts receivable. For the three and six months ended June 30, 2024, one customer accounted for 12% and 10% of revenues, respectively.

​

​

19

Table of Contents

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

All statements contained herein that are not statements of historical fact constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance, or achievements, and may contain the word “believe,” “anticipate,” “expect,” “project,” “intend,” “will continue,” “will likely result,” “should” or words or phrases of similar meaning. Forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to differ materially from the expected results described in the forward-looking statements. The risks and uncertainties include those associated with: the domestic and foreign general business and economic conditions in the markets we serve, including political and currency risks and adverse changes in local legal and regulatory environments; the severity, magnitude and duration of the impact of global pandemics, including impacts from businesses’ and governments’ responses to the impact on our operations and personnel, and on commercial activity and demand across our and our customers’ businesses, and on global supply chains; our inability to predict the extent to which global pandemic impacts will adversely impact our business operations, financial performance, results of operations, financial position, the prices of our securities and the achievement of our strategic objectives; the geopolitical conflicts and their ability to create instability and economic uncertainty; the introduction of new technologies and the impact of competitive products; the ability to protect the Company’s intellectual property; our ability to sustain, manage or forecast our growth and product acceptance to accurately align capacity with demand; the continued success of our customers and the ability to realize the full amounts reflected in our order backlog as revenue; the loss of significant customers or the enforceability of the Company’s contracts in connection with a merger, acquisition, disposition, bankruptcy, or otherwise; our ability to meet the technical specifications of our customers; the performance of subcontractors or suppliers and the continued availability of parts and components; failure of a key information technology system, process or site or a breach of information security, including a cybersecurity breach, ransomware, or failure of one or more key information technology systems, networks, processes, associated sites or service providers; changes in government regulations; the availability of financing and our access to capital markets, borrowings, or financial transactions to hedge certain risks; the ability to attract and retain qualified personnel, and in particular those who can design new applications and products for the motion industry; the ability to implement our corporate strategies designed for growth and improvement in profits including to identify and consummate favorable acquisitions to support external growth and the development of new technologies; the ability to successfully integrate an acquired business into our business model without substantial costs, delays, or problems; our ability to control costs, including the establishment and operation of low cost region manufacturing and component sourcing capabilities; and in the Company’s Annual Report in Form 10-K. Actual results, events and performance may differ materially from the Company’s forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements as a prediction of actual results. Any forward-looking statement speaks only as of the date on which it is made. New risks and uncertainties arise over time, and it is not possible for us to predict the occurrence of those matters or the manner in which they may affect us. The Company has no obligation or intent to release publicly any revisions to any forward-looking statements, whether as a result of new information, future events, or otherwise.

New risk factors emerge from time to time, and it is not possible for management to predict all such risk factors, nor can it assess the impact of all such risk factors on its business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. The Company’s expectations, beliefs and projections are believed to have a reasonable basis; however, the Company makes no assurance that expectations, beliefs, or projections will be achieved.

Overview

We are a global company that is engaged in the business of designing, manufacturing, and selling precision motion, control, power, and structural composites to provide integrated system solutions as well as individual products, to a broad spectrum of customers throughout the world primarily for the industrial, vehicle, medical, and aerospace and defense markets. We are headquartered in Amherst, NY, and have operations in the United States, Canada, Mexico, Europe, and Asia-Pacific. We are known worldwide for our expertise in electro-magnetic, mechanical, and electronic motion technology. We sell component and integrated controlled motion solutions to end customers and OEMs through our own direct sales force and authorized manufacturers’ representatives and distributors. Our products include nano precision positioning systems, servo control systems, motion controllers, digital servo amplifiers and drives, brushless servo, torque, and coreless motors, brush motors, integrated motor-drives, gear motors, gearing, incremental and absolute optical encoders, active (electronic) and passive (magnetic) filters for power quality and harmonic issues, Industrial safety rated input/output Modules, Universal Industrial Communications Gateways, light-weighting technologies, transformers, and other controlled motion-related products.

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Table of Contents

Throughout 2024 and into 2025, we continue to refine our strategy to expand our vertical market focus to accelerate our growth. Throughout its history, the Company has expanded our capabilities to be a leading global provider of motion solutions. More recently, we have been building our controls and power technologies, both organically and through acquisitions. The evolution of these additional pillars of our business enhances our overall value proposition, expands our addressable markets and is aligned with mega technology trends. These advancements required us to refine our strategy to leverage the value opportunity that exists in three technology pillars – Motion, Controls and Power. In addition, we are structuring our organization with focused market selling and support teams to increase solution sales opportunities under our new brand - Allient. This refined strategy is reflected in the 2023 change of our corporate name from Allied Motion Technologies Inc. to Allient Inc, short for Allied Nexus Technologies. Allient captures the opportunity that exists at the nexus of these three technology pillars and recognizes the unique capabilities the combination offers.

Recent Events

Beginning in 2024, and continuing into 2025, the Company has been executing its Simplify to Accelerate NOW program. This included initiatives to realign the Company’s manufacturing footprint and streamline the organization to enhance operational efficiency and drive profitability. These initiatives are expected to position Allient to emerge from the current challenging macroeconomic environment and industrial headwinds with stronger earnings power, improved operational flexibility, and enhanced capacity to capitalize on future growth opportunities.

​

During the first quarter of 2025, the Company announced that consistent with its Simplify to Accelerate NOW strategy, it will expand upon current capabilities and skillsets to create a state-of-the-art Machining Center of Excellence at its facility in Dothan, Alabama.  The Company will transfer current assembly operations from Dothan and merge these capabilities into its facilities in Tulsa, Oklahoma and Reynosa, Mexico where Final Assembly, Integration and Test capabilities are the core competencies.

​

The realignment will improve business focus and better leverage the Company’s footprint to deliver high-precision system solutions for demanding applications in various served markets including Aerospace and Defense, Medical and Electronic Test and Assembly Equipment.  One-time costs required to implement the changes are estimated to be approximately $4 to $5 million, primarily related to employee severance and other personnel related expenses and are expected to be substantially incurred during 2025. The initiative is expected to support our goal of driving an additional $6 to $7 million in annualized cost savings in 2025.

On July 4, 2025, legislation commonly referred to as the One Big Beautiful Bill Act (“OBBBA”) was signed into law which, among other things, modifies the income tax treatment of research and development expenses, as well as includes revisions to bonus depreciation and international tax regimes. We are in the process of evaluating the financial implications of the OBBBA and will begin reflecting its effects in the third quarter of 2025.

​

Global Environment

The U.S. government has proposed and implemented certain updates to existing foreign trade policies. These updates include new and increased tariffs, or potential tariffs, on a wide range of products and goods imported to the U.S., and certain countries have responded with reciprocal tariffs and/or trade restrictions. We have manufacturing operations in Mexico, China, and Europe, amongst other locations globally throughout the world, and source certain components from locations that may be impacted by these policy changes. Official government policies and agreements continue to be closely monitored and our operations remain agile in making adjustments to minimize potential impacts to our business.

The current geopolitical conflicts are creating higher levels of economic uncertainty and increased volatility with respect to energy prices, interest rates, our supply chain (in particular, with respect to changes and proposed changes to tariffs and trade policies), and certain customer ordering patterns. We are closely monitoring the developments and continue to adjust our production platform to react to changing customer ordering patterns and availability of certain raw materials with a focus on realizing efficiencies. The impact of the conflicts on our operational and financial performance will depend on future developments that cannot be predicted.

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Table of Contents

Operating Results

Three months ended June 30, 2025 compared to three months ended June 30, 2024

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

For the three months ended

    

2025 vs. 2024

​

​

​

June 30, 

​

Variance

 

(Dollars in thousands, except per share data)

    

2025

    

2024

​

$

    

%

​

Revenues

​

$

139,578

​

$

136,032

​

$

3,546

​

3

%

Cost of goods sold

​

 

93,222

​

​

95,356

​

 

(2,134)

​

(2)

%

Gross profit

​

 

46,356

​

 

40,676

​

 

5,680

​

14

%

Gross margin percentage

​

 

33.2

%  

 

29.9

%  

 

  

​

  

​

Operating costs and expenses:

​

 

  

​

 

  

​

 

  

​

  

​

Selling

​

 

6,026

​

​

6,662

​

 

(636)

​

(10)

%

General and administrative

​

 

14,439

​

​

14,142

​

 

297

​

2

%

Engineering and development

​

 

9,944

​

​

10,293

​

 

(349)

​

(3)

%

Acquisition and integration-related costs

​

 

23

​

​

100

​

 

(77)

​

(77)

%

Restructuring and business realignment costs

​

​

1,122

​

​

1,469

​

​

(347)

​

(24)

%

Amortization of intangible assets

​

 

3,125

​

​

3,131

​

 

(6)

​

—

%

Total operating costs and expenses

​

 

34,679

​

 

35,797

​

 

(1,118)

​

(3)

%

Operating income

​

 

11,677

​

 

4,879

​

 

6,798

​

139

%

Interest expense

​

 

3,552

​

 

3,384

​

 

168

​

5

%

Other expense, net

​

 

823

​

 

46

​

 

777

​

NM

%

Total other expense

​

 

4,375

​

 

3,430

​

 

945

​

28

%

Income before income taxes

​

 

7,302

​

 

1,449

​

 

5,853

​

404

%

Income tax provision

​

 

(1,685)

​

 

(299)

​

 

(1,386)

​

464

%

Net income

​

$

5,617

​

$

1,150

​

$

4,467

​

388

%

​

​

 

  

​

 

  

​

 

  

​

  

​

Effective tax rate

​

 

23.1

%  

 

20.6

%  

​

​

​

​

​

Diluted earnings per share

​

$

0.34

​

$

0.07

​

$

0.267

​

386

%

Bookings

​

$

135,032

​

$

137,373

​

$

(2,341)

​

(2)

%

Backlog

​

$

236,586

​

$

259,002

​

$

(22,416)

​

(9)

%

​

​

REVENUES: The increase in revenues during the second quarter 2025 reflects increases in several target markets, most significantly within Medical, Industrial, and Aerospace and Defense markets, partially offset by decreases in Vehicle. Our revenue for the second quarter of 2025 was comprised of 55% to U.S. customers and 45% to customers primarily in Europe, Canada, and Asia-Pacific. The overall increase in revenue was primarily due to a 1.8% foreign currency increase and a volume increase of 0.9%. Organic revenue increased 0.9% during the second quarter 2025.

ORDER BOOKINGS AND BACKLOG: Bookings decreased in the second quarter 2025 compared to 2024, due to a 3.3% decrease in volume, slightly offset by a 1.6% increase in foreign currency impact. The decrease in bookings from the prior year quarter is primarily reflective of timing of customers ordering patterns in the prior year periods.

GROSS PROFIT AND GROSS MARGIN: Gross profit increased to $46,356 in the second quarter of 2025 from $40,676 in the second quarter of 2024, and gross margins increased to 33.2% for 2025, compared to 29.9% for 2024. Gross profit and gross margin percentage were impacted favorably by slightly higher sales volume, improved product mix, and operational improvements driven by our Simplify to Accelerate NOW strategy.

SELLING EXPENSES: Selling expenses decreased 10% during the second quarter of 2025 compared to 2024, reflecting cost reduction actions taken as part of our Simplify to Accelerate NOW strategy. Selling expenses as a percentage of revenues were 4% and 5% in the three months ended June 30, 2025 and 2024, respectively.

GENERAL AND ADMINISTRATIVE EXPENSES: General and administrative expenses increased 2% during the second quarter 2025 compared to 2024 due primarily to higher incentive compensation, offset in part by cost reduction actions taken reflecting our Simplify to Accelerate NOW strategy. As a percentage of revenues, general and administrative expenses were 10% in each of the three months ended June 30, 2025 and 2024.

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Table of Contents

ENGINEERING AND DEVELOPMENT EXPENSES: Engineering and development expenses decreased by 3% in the second quarter of 2025 compared to 2024. The decrease reflects the cost reduction actions taken as part of our Simplify to Accelerate NOW strategy. As a percentage of revenues, engineering and development expenses were 7% and 8% for the three months ended June 30, 2025 and 2024, respectively.

ACQUISITION AND INTEGRATION-RELATED COSTS: Acquisition and integration-related costs decreased in the second quarter of 2025 compared to 2024 primarily reflecting costs incurred in 2024 relating to a prior year acquisition.

RESTRUCTURING AND BUSINESS REALIGNMENT COSTS: Restructuring and business realignment costs decreased in the second quarter of 2025 compared to 2024 primarily reflecting costs primarily associated with the transfer of assembly operations from our Dothan, Alabama facility in 2025 and a reduction in other Simplify to Accelerate NOW actions as compared with the prior year.

AMORTIZATION OF INTANGIBLE ASSETS: Amortization of intangible assets remained consistent compared to the prior year period.

INTEREST EXPENSE: Interest expense increased in the second quarter of 2025 compared to 2024 due to higher average effective interest rates due to maturity of certain interest rate swaps, partially offset by lower average debt balances. The increase in interest expense is partially offset by reductions to interest expense realized through our interest rate swaps.

INCOME TAXES: The effective income tax rate was 23.1% and 20.6% for the three months ended June 30, 2025 and 2024, respectively. The change in rates compared to the prior year is primarily due to the impact of discrete tax costs on share based awards. We expect our income tax rate for the full year 2025 to be approximately 21% to 23%.

NET INCOME AND ADJUSTED NET INCOME: Net income increased during the second quarter of 2025 compared to 2024, primarily relating to slightly higher sales volume, including an increase in organic revenue, and a decrease in cost of goods sold, as well as a decrease in operating expenses, reflecting the actions in our Simplify to Accelerate NOW strategy. Adjusted net income for the quarters ended June 30, 2025 and 2024 was $9,525 and $4,857, respectively. Adjusted diluted earnings per share for the second quarter of 2025 and 2024 were $0.57 and $0.29, respectively. Adjusted net income and adjusted diluted earnings per share are non-GAAP measures. See information included in “Non–GAAP Measures” below for a discussion of the non-GAAP measure and reconciliation of net income to adjusted net income and diluted earnings per share to adjusted diluted earnings per share.

EBITDA AND ADJUSTED EBITDA: EBITDA was $17,255 for the second quarter of 2025 compared to $11,249 for the second quarter of 2024. Adjusted EBITDA was $20,067 and $13,931 for the second quarters of 2025 and 2024, respectively. EBITDA and Adjusted EBITDA are non-GAAP measures. EBITDA consists of income before interest expense, provision for income taxes, and depreciation and amortization. Adjusted EBITDA also excludes stock-based compensation expense, foreign currency gain/loss and certain other items. Refer to information included in “Non-GAAP Measures” below for a discussion of the non-GAAP measure and a reconciliation of net income to EBITDA and Adjusted EBITDA.

​

​

​

​

​

​

​

​

​

​

23

Table of Contents

Six months ended June 30, 2025 compared to six months ended June 30, 2024

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

For the six months ended

    

2025 vs. 2024

​

​

​

June 30, 

​

Variance

 

(Dollars in thousands, except per share data)

    

2025

    

2024

​

$

    

%

​

Revenues

​

$

272,381

​

$

282,745

​

$

(10,364)

​

(4)

%

Cost of goods sold

​

 

183,273

​

 

194,692

​

 

(11,419)

​

(6)

%

Gross profit

​

 

89,108

​

 

88,053

​

 

1,055

​

1

%

Gross margin percentage

​

 

32.7

%  

 

31.1

%  

 

  

​

  

​

Operating costs and expenses:

​

 

  

​

 

  

​

 

  

​

  

​

Selling

​

 

12,040

​

 

12,960

​

 

(920)

​

(7)

%

General and administrative

​

 

28,252

​

 

28,582

​

 

(330)

​

(1)

%

Engineering and development

​

 

19,498

​

 

21,360

​

 

(1,862)

​

(9)

%

Acquisition and integration-related costs

​

​

23

​

​

457

​

​

(434)

​

(95)

%

Restructuring and business realignment costs

​

 

2,621

​

 

1,469

​

 

1,152

​

78

%

Amortization of intangible assets

​

 

6,218

​

 

6,246

​

 

(28)

​

—

%

Total operating costs and expenses

​

 

68,652

​

 

71,074

​

 

(2,422)

​

(3)

%

Operating income

​

 

20,456

​

 

16,979

​

 

3,477

​

20

%

Interest expense

​

 

7,187

​

 

6,772

​

 

415

​

6

%

Other expense (income), net

​

 

1,507

​

 

(63)

​

 

1,570

​

NM

%

Total other expense, net

​

 

8,694

​

 

6,709

​

 

1,985

​

30

%

Income before income taxes

​

 

11,762

​

 

10,270

​

 

1,492

​

15

%

Income tax provision

​

 

(2,588)

​

 

(2,218)

​

 

(370)

​

17

%

Net income

​

$

9,174

​

$

8,052

​

$

1,122

​

14

%

​

​

 

  

​

 

  

​

 

  

​

  

​

Effective tax rate

​

 

22.0

%  

 

21.6

%  

​

​

​

​

​

Diluted earnings per share

​

$

0.55

​

$

0.49

​

$

0.060

​

12

%

Bookings

​

$

272,655

​

$

259,500

​

$

13,155

​

5

%

Backlog

​

$

236,586

​

$

259,002

​

$

(22,416)

​

(9)

%

​

REVENUES: The decrease in revenues for the year to date 2025 reflects decreases primarily within Vehicle and Industrial markets. Decreases in revenues compared to the prior year period are largely impacted by elevated shipments during the first three months of the prior year period as supply chains normalized, combined with elevated inventory levels and slowing demand at our customers in the first three months of the current period, offset partially by year-over-year growth in certain markets during the second quarter of 2025 compared to the prior year period. Our revenues for the period ended June 30, 2025 was comprised of 54% to U.S. customers and 46% to customers primarily in Europe, Canada and Asia-Pacific. The overall decrease in revenue was due to a 3.9% volume decrease partially offset by a 0.2% favorable currency impact. Organic revenue decreased 4.3% during the year to date 2025.

ORDER BOOKINGS AND BACKLOG: Orders increased for the year to date 2025 compared to 2024, and included a 4.9% increase in volume as well as a 0.2% increase in foreign currency impact. The increase in orders reflects steady demand in the Industrial market and continued strength in Aerospace & Defense.

GROSS PROFIT AND GROSS MARGIN: Gross profit increased to $89,108 for year to date 2025 from $88,053 in 2024 driven by decreases in cost of goods sold, and gross margins increased to 32.7% for 2025, compared to 31.1% for 2024. Gross profit and gross margin percentage were impacted favorably by improved product mix and operational improvements driven by our Simplify to Accelerate NOW strategy, partially offset by lower sales volume.

SELLING EXPENSES: Selling expenses decreased 7% during year to date 2025 compared to 2024, reflecting cost reduction actions taken as part of our Simplify to Accelerate NOW strategy. Selling expenses as a percentage of revenues were 4% and 5% during year to date 2025 and 2024, respectively.

GENERAL AND ADMINISTRATIVE EXPENSES: General and administrative expenses decreased by 1% during the six months ended June 30, 2025 compared to the same period of 2024, reflecting cost reduction actions taken as part of our Simplify to Accelerate NOW strategy, offset, in part, by higher incentive compensation. As a percentage of revenues, general and administrative expenses were 10% in each of 2025 and 2024.

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Table of Contents

ENGINEERING AND DEVELOPMENT EXPENSES: Engineering and development expenses decreased by 9% during the year to date 2025 compared to 2024, reflecting cost reduction actions taken as part of our Simplify to Accelerate NOW strategy. As a percentage of revenues, engineering and development expenses were 7% for the six months ended June 30, 2025 compared to 8% for the six months ended June 30, 2024.

ACQUISITION AND INTEGRATION-RELATED COSTS: Acquisition and integration-related costs decreased in 2025 compared to 2024 primarily reflecting costs incurred in 2024 relating to a prior year acquisition.

RESTRUCTURING AND BUSINESS REALIGNMENT COSTS: Restructuring and business realignment costs increased in 2025 compared to 2024 primarily reflecting restructuring-related costs primarily associated with the transfer of assembly operations from our Dothan, Alabama facility.

AMORTIZATION OF INTANGIBLE ASSETS: Amortization of intangible assets increased for year to date 2025 compared to 2024.

INTEREST EXPENSE: Interest expense increased by 6% for the year to date 2025 compared to 2024 primarily due to an increase in the average effective interest rate on debt due to maturity of certain interest rate swaps, partially offset by lower average debt levels. The increase in interest expense is partially offset by reductions to interest expense realized through our interest rate swaps.

INCOME TAXES: For the six months ended June 30, 2025 and 2024, the effective income tax rate was 22.0% and 21.6%, respectively. The change in rates compared to the prior year is primarily due to the impact of discrete tax costs on share based awards. We expect our income tax rate for the full year 2025 to be approximately 21% to 23%.

NET INCOME AND ADJUSTED NET INCOME: Net income increased during year to date 2025 compared to 2024, primarily relating to a decrease in cost of goods sold, as well as a decrease in operating expenses, partially offset by lower sales volume. Adjusted net income for the six month periods ended June 30, 2025 and 2024 was $17,119 and $14,403, respectively. Adjusted diluted earnings per share for year to date 2025 and 2024 were $1.03 and $0.87, respectively. Adjusted net income and adjusted diluted earnings per share are non-GAAP measures. See information included in “Non– GAAP Measures” below for a discussion of the non-GAAP measure and reconciliation of net income to Adjusted net income and diluted earnings per share to Adjusted diluted earnings per share.

EBITDA AND ADJUSTED EBITDA: EBITDA was $31,631 for year to date 2025 compared to $29,843 for year to date 2024. Adjusted EBITDA was $37,540 and $33,971 for year to date 2025 and 2024, respectively. EBITDA and Adjusted EBITDA are non-GAAP measures. EBITDA consists of income before interest expense, provision for income taxes, and depreciation and amortization. Adjusted EBITDA also excludes stock-based compensation expense, foreign currency gain/loss and certain other items. Refer to information included in “Non-GAAP Measures” below for a discussion of the non-GAAP measure and a reconciliation of net income to EBITDA and Adjusted EBITDA.

Non-GAAP Measures

Organic revenue, EBITDA, Adjusted EBITDA, Adjusted net income and Adjusted diluted earnings per share are provided for information purposes only and are not measures of financial performance under GAAP. Management believes the presentation of these financial measures reflecting non-GAAP adjustments provides important supplemental information to investors and other users of our financial statements in evaluating the operating results of the Company as distinct from results that include items that are not indicative of ongoing operating results. In particular, those charges and credits that are not directly related to operating unit performance, and that are not a helpful measure of the performance of our underlying business particularly in light of their unpredictable nature. These non-GAAP disclosures have limitations as analytical tools, should not be viewed as a substitute for revenue and net income determined in accordance with GAAP, and should not be considered in isolation or as a substitute for analysis of the Company’s results as reported under GAAP, nor is it necessarily comparable to non-GAAP performance measures that may be presented by other companies. In addition, the supplemental presentation should not be construed as an inference that the Company’s future results will be unaffected by similar adjustments to net income determined in accordance with GAAP. Organic revenue is reported revenues adjusted for the impact of foreign currency and the revenue contribution from acquisitions.

​

The Company believes that revenue excluding foreign currency exchange impacts is a useful measure in analyzing sales results. The Company excludes the effect of currency translation from revenue for this measure because currency translation is not fully under management’s control, is subject to volatility and can obscure underlying business trends. The portion of revenue attributable to currency translation is calculated as the difference between the current period revenue and the current period revenue after applying foreign exchange rates from the prior period.

​

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Table of Contents

The Company believes EBITDA is often a useful measure of a Company’s operating performance and is a significant basis used by the Company’s management to measure the operating performance of the Company’s business because EBITDA excludes charges for depreciation, amortization and interest expense that have resulted from our debt financings, acquisitions, as well as our provision for income tax expense. EBITDA is frequently used as one of the bases for comparing businesses in the Company’s industry.

​

The Company also believes that Adjusted EBITDA provides helpful information about the operating performance of its business. Adjusted EBITDA excludes stock-based compensation expense, as well as acquisition and integration-related costs, restructuring and business realignment costs, foreign currency gains/losses on short-term assets and liabilities, and other items that are not indicative of the Company’s core operating performance. EBITDA and Adjusted EBITDA do not represent and should not be considered as an alternative to net income, operating income, net cash provided by operating activities or any other measure for determining operating performance or liquidity that is calculated in accordance with GAAP.

​

Management uses Adjusted net income and Adjusted diluted earnings per share to assess the Company’s consolidated financial and operating performance. Adjusted net income and Adjusted diluted earnings per share are provided for informational purposes only and are not a measure of financial performance under GAAP. These measures help management make decisions that are expected to facilitate meeting current financial goals as well as achieving optimal financial performance. Adjusted net income provides management with a measure of financial performance of the Company based on operational factors as it removes the impact of certain non-routine items from the Company’s operating results. Adjusted diluted earnings per share provides management with an indication of how Adjusted net income would be reflected on a per share basis for comparison to the GAAP diluted earnings per share measure. Adjusted net income is a key metric used by senior management and the Company’s board of directors to review the consolidated financial performance of the business. This measure adjusts net income determined in accordance with GAAP to reflect changes in financial results associated with the highlighted expense and income items.

​

The Company’s calculation of Revenue excluding foreign currency exchange impacts for the three and six months ended June 30, 2025 is as follows:

​

​

​

​

​

​

​

​

    

Three months ended

​

Six months ended

​

    

June 30, 2025

    

June 30, 2025

Revenue as reported

​

$

139,578

​

$

272,381

Favorable currency impact

​

 

(2,382)

​

​

(563)

Revenue excluding foreign currency exchange impacts

​

$

137,196

​

$

271,818

​

​

​

​

​

​

​

​

The Company’s calculation of organic revenue for the three and six months ended June 30, 2025 is as follows:

​

​

​

​

​

​

​

​

​

    

Three months ended

​

Six months ended

​

    

June 30, 2025

    

June 30, 2025

Revenue change over prior year

​

2.6

%

​

(3.7)

%

Less: Impact of acquisitions and foreign currency

​

1.7

​

​

0.6

​

Organic revenue

​

0.9

%

​

(4.3)

%

​

The Company’s calculation of EBITDA and Adjusted EBITDA for the three and six months ended June 30, 2025 and 2024 is as follows (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

Three months ended

Six months ended

​

​

June 30, 

June 30, 

​

    

2025

    

2024

2025

    

2024

Net income as reported

​

$

5,617

​

$

1,150

$

9,174

​

$

8,052

Interest expense

​

 

3,552

​

 

3,384

 

7,187

​

 

6,772

Provision for income tax

​

 

1,685

​

 

299

 

2,588

​

 

2,218

Depreciation and amortization

​

 

6,401

​

 

6,416

 

12,682

​

 

12,801

EBITDA

​

 

17,255

​

 

11,249

 

31,631

​

 

29,843

Stock-based compensation expense

​

 

835

​

 

1,073

 

1,755

​

 

2,284

Acquisition and integration-related costs

​

​

23

​

​

100

​

23

​

​

457

Restructuring and business realignment costs

​

 

1,122

​

 

1,469

 

2,621

​

 

1,469

Foreign currency loss/(gain)

​

​

832

​

​

40

​

1,509

​

​

(82)

Adjusted EBITDA

​

$

20,067

​

$

13,931

$

37,539

​

$

33,971

​

26

Table of Contents

The Company’s calculation of Adjusted net income and Adjusted diluted earnings per share for the three and six months ended June 30, 2025 and 2024 is as follows (in thousands except per share amounts):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

For the three months ended

​

​

June 30, 

​

    

​

​

    

Per diluted

    

​

​

    

Per diluted

​

​

2025

​

share

​

2024

​

share

Net income as reported

​

$

5,617

​

$

0.34

​

$

1,150

​

$

0.07

Non-GAAP adjustments, net of tax (1)

​

 

  

​

 

  

​

 

  

​

 

  

Amortization of intangible assets – net

​

 

2,394

​

​

0.14

​

 

2,475

​

 

0.15

Foreign currency loss – net

​

 

637

​

 

0.04

​

 

30

​

 

—

Acquisition and integration-related costs – net

​

​

18

​

​

—

​

​

77

​

​

—

Restructuring and business realignment costs – net

​

 

859

​

 

0.05

​

 

1,125

​

 

0.07

Non-GAAP adjusted net income and adjusted diluted earnings per share

​

$

9,525

​

$

0.57

​

$

4,857

​

$

0.29

(1)Applies a blended federal, state, and foreign tax rate of approximately 23% applicable to the non-GAAP adjustments.

​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

For the six months ended

​

​

June 30, 

​

    

​

​

    

Per diluted

    

​

​

    

Per diluted

​

​

2025

​

share

​

2024

​

share

Net income as reported

​

$

9,174

​

$

0.55

​

$

8,052

​

$

0.49

Non-GAAP adjustments, net of tax (1)

​

 

  

​

 

  

​

 

  

​

 

  

Amortization of intangible assets – net

​

 

4,763

​

​

0.29

​

 

4,938

​

 

0.30

Foreign currency loss / (gain) – net

​

 

1,156

​

 

0.07

​

 

(62)

​

 

—

Acquisition and integration-related costs – net

​

​

18

​

​

—

​

​

350

​

​

0.02

Restructuring and business realignment costs – net

​

 

2,007

​

 

0.12

​

 

1,125

​

 

0.06

Non-GAAP adjusted net income and adjusted diluted earnings per share

​

$

17,118

​

$

1.03

​

$

14,403

​

$

0.87

(2)Applies a blended federal, state, and foreign tax rate of approximately 23% applicable to the non-GAAP adjustments.

Liquidity and Capital Resources

The Company’s liquidity position as measured by cash and cash equivalents increased by $13,813 to a balance of $49,915 at June 30, 2025 from December 31, 2024.

​

​

​

​

​

​

​

​

​

​

​

    

​

​

​

​

​

​

2025 vs.

​

​

Six Months Ended

​

2024

​

​

June 30, 

​

Variance

(in thousands):

    

2025

    

2024

    

$

Net cash provided by operating activities

​

$

38,435

​

$

17,377

​

$

21,058

Net cash used in investing activities

​

​

(3,189)

 

​

(30,559)

​

 

27,370

Net cash (used in) provided by financing activities

​

​

(24,286)

 

​

13,314

​

 

(37,600)

Effect of foreign exchange rates on cash

​

​

2,853

 

​

(741)

​

 

3,594

Net increase (decrease) in cash and cash equivalents

​

$

13,813

​

$

(609)

​

$

14,422

​

Of the $49,915 of cash and cash equivalents at June 30, 2025, $38,609 was located at our foreign subsidiaries and may be subject to withholding tax if repatriated back to the U.S. The Company regularly evaluates opportunities to optimize cash available from operations in all geographies.

During the six months ended June 30, 2025, the increase in cash provided by operating activities is due to improved cash used/provided by inventory, decrease in cash used in accounts payable and accrued liabilities, and higher net income, offset by decrease in cash inflows on collections on accounts receivable.

The decrease in cash used in investing activities in the six months ended June 30, 2025 relates to $20,000 in cash paid for the acquisition of SNC, as well as $6,250 of cash paid relating to the 2022 Spectrum acquisition in the first quarter of 2024. Cash used in investing activities in the six months ended June 30, 2025 includes $3,189 for purchases of property and equipment compared to

27

Table of Contents

$5,328 during the six months ended June 30, 2024. Capital expenditures are expected to be between $8,000 and $10,000 for the full year 2025.

The decrease in cash used/provided by financing activities during the six months ended June 30, 2025 is primarily due to borrowings of $20,000 to fund the SNC acquisition during the first quarter of 2024. Debt payments of $22,221 were made during the six months ended June 30, 2025. The $50,000 Notes issued in March 2024 were used to pay down the Revolving Facility. As of June 30, 2025, we had $146,962 of obligations under the Revolving Facility, excluding deferred financing costs.

Financial covenants under the 2024 Credit and Note Payable Agreements require the Company to maintain a minimum interest coverage ratio of at least 3.0:1.0 at the end of each fiscal quarter. In addition, the Company’s Leverage Ratio at the end of any fiscal quarter shall not be greater than 4.25:1.0 through December 31, 2024 or greater than 3.75 to 1.0 as of the end of any fiscal quarter thereafter; provided that the Company may elect to temporarily increase the Leverage Ratio to by 0.5:1.0 following a material acquisition under the 2024 Credit and Note Payable Agreements. The 2024 Credit and Note Payable Agreements also include covenants and restrictions that limit the Company’s ability to incur additional indebtedness, merge, consolidate or sell all or substantially all of its assets and enter into transactions with an affiliate of the Company on other than an arms’ length transaction. These covenants, which are described more fully in the 2024 Credit and Note Payable Agreements, to which reference is made for a complete statement of the covenants, were modified as of October 22, 2024, and are subject to certain exceptions. The Company was in compliance with all covenants as of June 30, 2025.

As of June 30, 2025, the unused Revolving Facility was $133,038. The amount available to borrow may be limited by our debt and EBITDA levels, which impacts our covenant calculations. The Revolving Facility matures March 1, 2029. The Series A Senior Notes, under the 2024 Note Payable Agreement, are due March 21, 2031.

On October 22, 2024, the Company entered into a Second Amendment to the Third Amended and Restated Credit Agreement and a Second Amendment to the Note Purchase and Private Shelf Agreement (collectively, the “October 2024 Credit and Note Payable Amendments”). These amendments include provisions to increase the maximum Leverage Ratio to 4.5:1.0 for the quarters ending March 31, 2025 and June 30, 2025, 4.0:1.0 for the quarter ending September 30, 2025, and returning to 3.75:1.0 for the quarter ending December 31, 2025 and thereafter. From January 1, 2025 through September 30, 2025, borrowings under the Revolving Facility will bear interest at Term SOFR plus a margin of 2.50% and a commitment fee of 0.325% on the unused portion of the Revolving Facility. Also, from October 1, 2024 through September 30, 2025, the Series A Notes will bear interest at 6.46%.

The Company declared dividends of $0.06 per share during each of the six months ended June 30, 2025 and 2024. The Company’s working capital, capital expenditure and dividend requirements are expected to be funded from cash provided by operations and amounts available under the Amended Credit Agreement.

​

We believe our diverse markets, our strong market position in many of our businesses, and the steps we have taken to improve operational efficiency and strengthen our balance sheet, such as retaining cash to support shorter term needs and amending our revolving credit facility leaves us well-positioned to manage our business. We continually assess our liquidity and cash positions taking geopolitical and other market uncertainties into consideration. Based on our analysis, we believe our existing balances of cash, our currently anticipated operating cash flows, and our available financing under agreements in place will be more than sufficient to meet our cash needs arising in the ordinary course of business for the next twelve months.

​

Item 3. Qualitative and Quantitative Disclosures about Market Risk

Foreign Currency

We have international operations in The Netherlands, Sweden, Germany, China, Portugal, Canada, Czech Republic, Mexico, the United Kingdom, and New Zealand which expose us to foreign currency exchange rate fluctuations due to transactions denominated in Euros, Swedish Krona, Chinese Renminbi, Canadian dollar, Czech Krona, Mexican pesos, British Pound Sterling, and New Zealand dollar, respectively. We continuously evaluate our foreign currency risk, and we take action from time to time in order to best mitigate these risks. A hypothetical 10% change in the value of the U.S. dollar in relation to our most significant foreign currency exposures would have had an impact of approximately $4,880 on our sales for the six months ended June 30, 2025. This amount is not indicative of the hypothetical net earnings impact due to partially offsetting impacts on cost of sales and operating expenses in those currencies. For the three months ended June 30, 2025, we estimate that foreign currency exchange rate fluctuations increased revenues by $2,382. We estimate that foreign currency exchange rate fluctuations during the six months ended June 30, 2025 increased revenues in comparison to the three months ended June 30, 2024 by $563.

28

Table of Contents

​

We translate all assets and liabilities of our foreign operations, where the U.S. dollar is not the functional currency, at the period-end exchange rate and translate sales and expenses at the average exchange rates in effect during the period. The net effect of these translation adjustments is recorded in the condensed consolidated financial statements as comprehensive income. The translation adjustments were a gain of $11,644 and a loss of $1,178 for the three months ended June 30, 2025 and 2024, respectively. The translation adjustments were a gain of $15,506 and a loss of $5,586 for the six months ended June 30, 2025 and 2024, respectively. Translation adjustments are not adjusted for income taxes as they relate to permanent investments in our foreign subsidiaries. A hypothetical 10% change in the value of the U.S. dollar in relation to our most significant foreign currency net assets would have had an impact of approximately $18,294 on our foreign net assets as of June 30, 2025.

​

We have contracts to hedge our short-term balance sheet exposure, primarily intercompany, that are denominated in currencies (Euro, Mexican Peso, New Zealand Dollar, Chinese Renminbi, Swedish Krona) other than the subsidiary’s functional currency and are adjusted to current values using period-end exchange rates. The resulting gains or losses are recorded in other expense, net in the consolidated statements of income and comprehensive income. To minimize foreign currency exposure, the Company had foreign currency contracts with notional amounts of $35,579 at June 30, 2025. The foreign currency contracts are recorded in the condensed consolidated balance sheets at fair value and resulting gains or losses are recorded in other expense, net in the condensed consolidated statements of income and comprehensive income. During the three and six months ended June 30, 2025, we recorded gains of $1,193 and $1,070, respectively, on foreign currency contracts which are included in other expense, net and generally offset the gains or losses from the foreign currency adjustments on the intercompany balances that are also included in other expense, net. Net foreign currency transaction gains and losses included in other expense (income), net amounted to losses of $1,509 and gains of $23 for the six months ended June 30, 2025 and 2024, respectively.

​

Interest Rates

​

The Series A Notes under our 2024 Note Payable Agreement will bear interest at a fixed rate 5.96% and will mature on March 21, 2031. Interest on the Notes will be payable quarterly on the 21st day of March, June, September and December in each year, commencing on June 21, 2024. As amended on October 22, 2024, the Series A Notes will bear interest at 6.46% from October 1, 2024 through September 30, 2025. Interest will be computed on the basis of a 360-day year composed of twelve 30-day months.

​

Interest rates on our Credit Facility are based on Term SOFR plus a margin of 1.25% to 2.50% (2.50% at June 30, 2025), depending on the Company’s ratio of total funded indebtedness to consolidated EBITDA. As amended on October 22, 2024, borrowings under the Credit Facility will bear interest at Term SOFR plus a margin of 2.50% from January 1, 2025 through September 30, 2025. We use interest rate derivatives to add stability to interest expense and to manage our exposure to interest rate movements. We primarily use interest rate swaps as part of our interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. In March 2022 the Company entered into an interest rate swap with a notional amount of $40,000 that matures in December 2026. In September 2024, the Company entered into an additional interest rate swap with a notional amount of $50,000 that matures in September 2027.

​

As of June 30, 2025, we had $146,962 outstanding under the Revolving Facility (excluding deferred financing fees), of which $90,000 is currently being hedged. Refer to Note 10, Debt Obligations, of the notes to consolidated financial statements for additional information about our outstanding debt. A hypothetical one percentage point (100 basis points) change in the Base Rate on the $56,962 of unhedged floating rate debt outstanding at June 30, 2025 would have approximately a $570 impact on our interest expense for the six months ended June 30, 2025.

​

Item 4. Controls and Procedures

Conclusion regarding the effectiveness of disclosure controls and procedures

Our management, with the participation of our Chief Executive Officer and Chief Financial Officer (principal accounting officer), evaluated the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) as of June 30, 2025. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by the Company in the reports that we file or submit under the Exchange Act is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate to allow timely decisions regarding required disclosure. Management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving their

29

Table of Contents

objectives and management necessarily applies its judgment in evaluating the cost-benefit relationship of possible controls and procedures.

Based on management’s evaluation of our disclosure controls and procedures as of June 30, 2025, our Chief Executive Officer and Chief Financial Officer concluded that, as of such date, our disclosure controls and procedures were effective.

Changes in internal control over financial reporting

During the quarter ended June 30, 2025, there were no changes in our internal control over financial reporting that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

​

​

PART II.     OTHER INFORMATION

​

Item 1A. Risk Factors

There have been no material changes to the risk factors disclosed in the Company’s Form 10-K for the year ended December 31, 2024, except to the extent factual information disclosed elsewhere in this Form 10-Q relates to such risk factors. For a full discussion of these risk factors, please refer to “Item 1A. Risk Factors” in the 2024 Annual Report and 10-K.

​

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

​

Issuer Purchases of Equity Securities

​

​

​

​

​

​

​

​

​

​

​

​

    

​

    

​

​

    

Total Number of Shares

    

Maximum Number of Shares

​

​

Number of Shares

​

Average Price Paid

​

Purchased as Part of Publicly

​

that May Yet Be Purchased 

Period

​

Purchased (1)

​

per Share

​

Announced Plans or Programs

​

Under the Plans or Programs

04/01/25 to 04/30/25

 

43,465

​

$

22.00

 

—

 

—

05/01/25 to 05/31/25

 

—

​

 

—

 

—

 

—

06/01/25 to 06/30/25

 

—

​

 

—

 

—

 

—

Total

 

43,465

​

$

22.00

 

—

 

—

(1)As permitted under the Company’s equity compensation plan, these shares were withheld by the Company to satisfy tax withholding obligations in connection with the vesting of stock. Shares withheld for tax withholding obligations do not affect the total number of shares available for repurchase under any approved common stock repurchase plan. At June 30, 2025, the Company did not have an authorized stock repurchase plan in place.

​

​

​

Item 5. Other Information

​

None of the Company’s directors or executive officers adopted or terminated a Rule 10b5-1 trading arrangement or a non-Rule 10b5-1 trading arrangement (each as defined I Item 408(a) of Regulation S-K) during the quarter ended June 30, 2025.

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

30

Table of Contents

​

Item 6. Exhibits

​

(a)   

Exhibits

​

​

​

​

31.1

Certification of the Chief Executive Officer pursuant to Rule 13a-14(a) or 15d-14(a) of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

​

​

​

​

31.2

Certification of the Chief Financial Officer pursuant to Rule 13a-14(a) or 15d-14(a) of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

​

​

​

​

32.1

Certification of the Chief Executive Officer pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

​

​

​

​

32.2

Certification of the Chief Financial Officer pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

​

​

​

101.1 SCH

Inline XBRL Taxonomy Extension Schema Document (filed herewith).

​

​

​

101.2 CAL

Inline XBRL Taxonomy Extension Calculation Linkbase Document (filed herewith).

​

​

​

101.3 DEF

Inline XBRL Taxonomy Extension Definition Linkbase Document (filed herewith).

​

​

​

101.4 LAB

Inline XBRL Taxonomy Extension Label Linkbase Document (filed herewith).

​

​

​

101.5 PRE

Inline XBRL Taxonomy Extension Presentation Linkbase Document (filed herewith).

​

​

​

104

Cover Page Interactive Data File (formatted as inline XBRL with applicable taxonomy extension information contained in exhibits 101.) (filed herewith).

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

31

Table of Contents

SIGNATURES

​

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

DATE:

August 6, 2025                      

ALLIENT INC.

 

 

By:

/s/ James A. Michaud

 

 

James A. Michaud

 

 

Senior Vice President & Chief Financial Officer

​

​

​

32

Source:

FAQ

How much did Parke Bancorp (PKBK) earn in Q2 2025?

PKBK reported $8.3 million in net income, up 28% from Q2 2024.

What was PKBK鈥檚 diluted EPS for the first half of 2025?

Diluted EPS for the six months ended June 30, 2025 was $1.34, up from $1.04 a year ago.

Did loans and deposits grow during the quarter?

Yes. Net loans rose to $1.90 billion (+3.5% YTD) and deposits reached $1.69 billion (+3.8% YTD).

How did credit quality trend at Parke Bancorp?

Non-performing loans declined to $11.2 million (0.58% of loans), while the allowance increased to $33.8 million.

What dividends did PKBK pay in 2025?

Common shareholders received $0.18 per share in Q2 and $0.36 year-to-date; preferred dividends totaled $10 thousand YTD.

How much wholesale funding does the bank carry?

FHLB borrowings fell to $100 million, down from $145 million at year-end 2024.
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Electronic Components
Instruments for Meas & Testing of Electricity & Elec Signals
United States
AMHERST