Crane NXT, Co. reported a significant increase in its financial performance for the fiscal year ending December 31, 2025, with total net sales reaching $1.657 billion, an increase of 11.4% compared to $1.487 billion in 2024. The growth was primarily driven by the Security and Authentication Technologies (SAT) segment, which saw sales rise by 32% to $810.1 million, bolstered by acquisitions including De La Rue and OpSec. In contrast, the Crane Payment Innovations (CPI) segment experienced a decline in sales, dropping 3% to $846.6 million, attributed to lower core sales and reduced volumes in vending operations.
The company's operating profit decreased by 8.2% to $246.7 million, down from $268.8 million in the previous year. This decline was influenced by higher costs associated with acquisitions, increased material costs, and lower sales volumes in the CPI segment. Selling, general, and administrative expenses also rose by 14% to $440.3 million, largely due to the integration costs of the acquired businesses. The overall operating margin fell to 14.9% from 18.1% in 2024, reflecting the challenges faced in managing costs amid growth initiatives.
Strategically, Crane NXT has made significant moves to expand its market presence through acquisitions. The company completed the acquisition of De La Rue Authentication Solutions for approximately $394 million in May 2025 and initiated a multi-phase acquisition of Antares Vision, acquiring a 32.3% equity interest for about $137.8 million in December 2025. These acquisitions are expected to enhance Crane NXT's capabilities in the authentication and security technology sectors, particularly in the life sciences and food and beverage markets.
Operationally, Crane NXT reported a total employee headcount of approximately 4,800 as of December 31, 2025, with a diverse workforce spread across 35 countries. The company also noted a backlog of $492.8 million, indicating strong future revenue potential. However, the CPI segment's backlog decreased to $113.4 million, down from $145.8 million in 2024, reflecting the impact of market conditions on customer demand. The company anticipates that approximately 98% of its remaining performance obligations will be recognized as revenue in 2026.
Looking ahead, Crane NXT expressed cautious optimism, emphasizing its commitment to leveraging its strong balance sheet for future growth opportunities. The company plans to continue focusing on strategic acquisitions and enhancing its product offerings to maintain competitive advantages in its markets. However, it also acknowledged potential risks, including macroeconomic fluctuations and challenges in integrating acquired businesses, which could impact future performance.
About Crane NXT, Co.
Crane NXT is an industrial technology company specializing in security, detection, and authentication solutions. Its core segments—Crane Payment Innovations and Security and Authentication Technologies—offer proprietary hardware, software, and sensing technologies for payment verification, brand protection, and product security. Serving government, financial, and consumer markets worldwide, the company focuses on innovation, strategic acquisitions, and operational excellence to deliver differentiated, high-quality security and payment solutions.
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