EVI Industries Reports 20% Revenue Growth to $223.6 Million in Latest 10-Q

EVI Industries, Inc. reported significant financial performance improvements in its latest 10-Q filing for the six months ending December 31, 2025. The company achieved revenues of $223.6 million, a 20% increase from $186.3 million in the same period last year. For the three months ending December 31, 2025, revenues rose 24% to $115.3 million compared to $92.7 million in the prior year. Gross profit also saw a notable increase, reaching $69.4 million for the six-month period, up 23% from $56.4 million, while the three-month gross profit increased by 29% to $35.5 million.

Despite the revenue growth, net income for the six months decreased slightly to $4.2 million from $4.4 million year-over-year, while the three-month net income rose to $2.4 million from $1.1 million. The decline in six-month net income was attributed to increased operating expenses, which rose 26% to $61.6 million, driven by costs associated with acquired businesses and higher selling costs. The company’s effective tax rate also improved, decreasing to 27.4% for the six months compared to 30.0% in the previous year.

EVI Industries has been active in its growth strategy, completing several acquisitions to enhance its market position. Notably, the company acquired ASN Laundry Group for $0.5 million in cash on August 1, 2025, which contributed to the revenue growth reported. The company also reported that its total assets increased to $315.6 million as of December 31, 2025, up from $307.0 million at the end of June 2025, primarily due to increases in inventory and other current assets.

Operationally, EVI Industries has focused on expanding its customer base and enhancing service offerings. The company reported an increase in working capital to $56.1 million, reflecting higher inventory levels and other current assets. The company’s cash flow from operating activities improved significantly, providing $5.1 million compared to $2.2 million in the prior year, indicating better management of working capital and operational efficiency.

Looking ahead, EVI Industries remains optimistic about its growth trajectory, supported by its "buy-and-build" strategy. The company is actively pursuing additional acquisitions, with a recent asset purchase agreement for $3.2 million expected to close in the third quarter of fiscal 2026. Management believes that the combination of organic growth initiatives and strategic acquisitions will continue to enhance its market position and financial performance in the coming periods.