Cadre Holdings, Inc. reported significant financial growth in its latest quarterly filing, with net sales reaching $155.9 million for the three months ended September 30, 2025, a 42.5% increase from $109.4 million in the same period last year. For the nine months ending September 30, 2025, net sales totaled $443.1 million, up 13.2% from $391.6 million in 2024. The company attributed this growth primarily to the acquisition of Zircaloy, increased demand for North American armor and duty gear products, and recovery from a cybersecurity incident that impacted the previous year’s performance.
Net income for the third quarter surged to $10.9 million, compared to $3.7 million in the prior year, marking a 199.3% increase. For the nine-month period, net income rose to $32.4 million from $23.2 million, reflecting a 40% increase. The growth in profitability was driven by higher gross profit margins, which improved due to increased sales volume and favorable pricing, despite rising operational costs associated with the Zircaloy acquisition and increased interest expenses.
Cadre has been active in strategic acquisitions, having completed the Zircaloy acquisition for $98.9 million in April 2025, which contributed significantly to its revenue growth. Additionally, the company announced a definitive agreement to acquire Tyr Tactical, LLC for approximately $175 million, which is expected to further enhance its product offerings in tactical gear and equipment for military and law enforcement agencies. The company’s operational footprint has expanded, with a backlog of orders increasing to $204.3 million as of September 30, 2025, up from $128.8 million at the end of 2024, indicating strong future sales potential.
Operationally, Cadre's employee headcount has increased, reflecting its growth strategy and the integration of acquired businesses. The company reported a total of 40.7 million shares outstanding as of September 30, 2025, with a diluted earnings per share of $0.27, compared to $0.09 in the previous year. The company’s cash and cash equivalents also improved, totaling $150.9 million, up from $124.9 million at the end of 2024, providing a solid liquidity position to support ongoing operations and future acquisitions.
Looking ahead, Cadre Holdings anticipates continued growth driven by its strategic acquisitions and expanding product lines. The company remains focused on enhancing its market position in the safety equipment sector, with plans to leverage its recent acquisitions to capture additional market share and meet the evolving needs of its customers in law enforcement and military sectors.
About Cadre Holdings, Inc.
Cadre Holdings, Inc. designs and manufactures safety equipment for law enforcement, first responders, military, and nuclear markets. Its core products include body armor, explosive ordnance disposal gear, duty holsters, and nuclear safety solutions. The company emphasizes high-quality, innovative, and regulation-compliant products, serving a global customer base through direct and indirect channels. Its business model focuses on recurring demand, strategic acquisitions, and international expansion.
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