CDRE

Image source: The Motley Fool. Thursday, Aug. 6, 2026 at 12:00 p.m. ET Chairman and Chief Executive Officer - Warren Kanders President - Brad Williams Chief Financial Officer - Blaine Browers Investor Relations - Matthew Berkowitz Operator: Good morning, and welcome to Cadre Holdings Second Quarter 2026 Conference Call. Today's call is being recorded. [Operator Instructions] At this time, I would like to turn the conference over to Matt Berkowitz of the IGB Group for the introductions and the reading of the safe harbor statement. Please go ahead, sir. Matthew Berkowitz: Thank you, and welcome to today's conference call to discuss Cadre's second quarter results. Before we begin, I'd like to remind everyone that during today's call, we will be making several forward-looking statements, and we make these statements under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect our best estimates and assumptions based on our understanding of information known to us today. These forward-looking statements are subject to the risks and uncertainties that face Cadre and the industries and markets in which we operate. More information on potential factors that could affect Cadre's financial results is included from time to time in Cadre's public reports filed with the Securities and Exchange Commission. Please note that we have posted presentation materials on our website at www.cadre-holdings.com, which supplement our comments this morning and include a reconciliation of certain non-GAAP financial measures. I would like to remind everyone that this call will be available for replay through August 20, 2026. A webcast replay will also be available via the link provided in yesterday's press release as well as on Cadre's website. At this time, I would like to turn the call over to Cadre's Chairman and CEO, Warren Kanders. Warren Kanders: Good morning, and thank you for joining Cadre's earnings call to discuss our results for the second quarter of 2026. I am joined today by our President, Brad Williams; and Chief Financial Officer, Blaine Browers. We are pleased to report another quarter of significant financial and operational progress, reflecting the strength of our brands, the resilience of our end markets and the consistent execution across the organization. During the second quarter, we generated year-over-year net sales growth of 32% and adjusted EBITDA growth of 56%, supported by strong and recurring demand for our mission-critical safety products across the law enforcement, first responder, military and nuclear markets. Our performance through the first half of the year, combined with our record orders backlog and continued momentum reinforces our confidence in Cadre's outlook. As a result, we have raised our 2026 guidance and are on track for full year revenue and adjusted EBITDA to increase well above 20%. M&A remains a critical component of our long-term growth strategy. Since our IPO, we have taken a thoughtful and disciplined approach to building Cadre into a diversified multi-vertical provider of mission-critical safety products. Importantly, as Cadre has grown in scale, the size and breadth of opportunities we can consider has expanded as well. Earlier this year, we acquired TYR Tactical, our largest transaction since going public. With greater scale, stronger cash flow generation, expanded capabilities and operations in more diverse markets, we can weigh a broader range of strategically significant opportunities today than we could several years ago. At the same time, our success is not dependent upon transaction size. The acquisition of Alien Gear, a recognized Holster brand during the second quarter demonstrates the value of smaller, highly complementary bolt-on acquisitions. Whether we are evaluating a larger strategic platform or a smaller add-on, the same principles guide our process. We seek businesses with leading and defensible market positions, strong margins, mission-critical products, recurring revenues and cash flows and clear opportunities to create value with the Cadre operating model. We remain patient, selective and disciplined as we advance our M&A funnel and expect at least one more acquisition in 2026. Cadre enters the second half of the year from a position of strength. We have greater scale, a more diversified portfolio and an expanding set of organic and inorganic growth opportunities. Supported by our strong balance sheet and consistent free cash flow generation, we believe we are well positioned to enhance our market leadership moving forward and deliver sustainable long-term value for our shareholders. With that, thank you for being with us today, and I will turn the call over to Brad. Brad, over to you. Brad Williams: Thank you, Warren. On today's call, Blaine and I will provide a Q2 update and business overview, including recent trends and financial performance as well as our increased guidance for the remainder of 2026, followed by a Q&A session. We'll begin on Slide 5 with key takeaways from the second quarter. First and foremost, we've delivered outstanding financial results. Net sales, gross profit and adjusted EBITDA all increased significantly this quarter. Our performance reflects the strong execution and dedication of our talented teams around the world, and I want to thank our employees for their continued commitment to our customers and our mission. We delivered 5% organic top line growth in Q2, and our backlog increased to a new record level for the second consecutive quarter. Putting this backlog growth in context, it represents an important forward indicator and gives us confidence in the upwardly revised 2026 outlook that Blaine will discuss shortly. Turning to the fourth and fifth bullet on the slide, I want to highlight 2 major wins for Cadre. First, as you will recall, our Med-Eng subsidiary was awarded a 5-year $50 million IDIQ contract last year to deliver and support the Blast Exposure Monitoring or BEMO program with the U.S. military. We are pleased to share that we obtained a second purchase order valued at $8.4 million for this program. The second purchase order brings our total to date to $18.4 million received for the BEMO program. Consistent with our commitment to innovation and mission of Together We Save Lives, this program is a testament to Med-Eng's ability to develop best-in-class products that keep users safe in the line of duty. Med-Eng is the most trusted brand in the industry and at the forefront of efforts to better understand and mitigate blast exposure in this field moving forward. The second major win in the quarter was the selection of Safariland's SXHP ballistic panel introduced in 2025 as the ballistic package for the FBI. Chosen over 11 competing products following a rigorous evaluation process, our ballistic panel has been integrated into predictive ballistics overt armor kit. Predictive Ballistics was awarded a 5-year $61 million IDIQ contract to supply the kit, which is also available to the U.S. Marshals Service, the DEA and other Department of Justice agencies. This is an important win that expands our presence within a key customer segment and underscores our continued commitment to innovation. The selection also validates the performance of our SXHP panel, which combines a thin lightweight design with a high level of ballistic protection. We're encouraged by the strong customer feedback and the potential for broader adoption across state, local and federal law enforcement agencies. Next, touching briefly on our nuclear vertical. Our businesses are performing well, and we expect continued strong demand moving forward. Our backlog has increased $13 million since the start -- since the end of last year, driven by continued multidirectional support across all 3 nuclear market segments, which I'll address more in a moment. Wrapping up our Q2 key takeaways, I'd like to also emphasize our commitment to further enhancing Cadre's market leadership through disciplined M&A. We maintain a robust pipeline across both public safety and nuclear and look forward to capitalizing on attractive opportunities ahead. Turning now to Slide 6. We lay out industry tailwinds supporting Cadre's long-term growth opportunity across our 2 verticals. On the law enforcement side, we see rising safety threats globally, coupled with resilient and growing spend on life-saving equipment. In both the U.S. and in Europe, support for public safety is bipartisan. On the next slide, we outline more current dynamics in our core market. Overall, we continue to see favorable near-term trends. Last quarter, we zoomed in our company-owned distribution segment and noted some softness in demand for discretionary products. During the second quarter, we were pleased to see distribution segment demand normalize, helping drive organic growth toward the high end of our 3% to 5% range. While we continue to monitor municipal budget pressures, public safety spending has historically proven very resilient with mission-critical equipment prioritized. Consistent with that trend, we have not seen any evidence of a meaningful pullback in demand for Cadre products since they are mission critical. Turning to Slide 8. I'd like to spend some time discussing our nuclear vertical and the robust activity we're seeing across the sector. Governments and agencies globally continue to prioritize environmental remediation and nuclear cleanup initiatives. A national defense modernization programs support sustained investment in nuclear safety infrastructure and protective solutions. For Cadre Nuclear Group, national security serves as a funded growth engine. The budget request of $32.8 billion from the National Nuclear Security Administration, part of the U.S. Department of Energy represents a 29% increase year-over-year. Weapons modernization and plutonium pit production form the core of the multibillion-dollar overhaul of the U.S. nuclear arsenal. The U.S. aims to manufacture at least 80 pits per year split between the Los Alamos National Laboratory in New Mexico and the Savannah River site in South Carolina to support new warhead designs. The NNSA budget and PIP production mandates support demand for Cadre Pod products across containers, ventilation and containment, remote handling and criticality alarm systems. While the downblending executive order that we have spoken about previously caused some margin and mix pressure confined to one subsegment, it impacts less than 8% of our nuclear revenue. It absolutely does not reflect a break in our nuclear safety business demand. Similar to our core business, quarter-to-quarter program timing can affect segment results on a near-term basis. But overall, we continue to see very healthy multi-year demand trends. This is led by national defense priorities and persistent decade-long environmental cleanup work. As you've heard it described by us before, the commercial nuclear renaissance is the cherry on top. We're encouraged by the accelerating investment backdrop supported by government and commercial commitments to expand nuclear capacity and rising power demand from AI and data centers. The opportunity for Cadre builds on established products and customer relationships, and we maintain a follow-the-fuel strategy. Current funnel opportunities in this area include nuclear ventilation and containment systems as well as criticality of accident alarm systems. While still early and not yet as material to revenue, we believe the nuclear energy resurgence represents attractive long-term optionality alongside the larger national defense and environmental management demand drivers. Overall, our thesis on the nuclear opportunity is unchanged. We view nuclear safety as a set of durable end markets across 3 segments with long-term demand tied to policy and commercial tailwinds. With that, I'll now turn the call over to our CFO, Blaine Browers, to speak more about M&A, Cadre's Q1 financial results and 2026 outlook. Blaine Browers: Thanks, Brad. Before turning to the quarter, I'll kick off my comments with a review of our M&A strategy. Over the last 4 years, we have deployed approximately $455 million across 7 transactions, including the recent acquisition of Alien Gear Holsters completed in the quarter. This activity reflects the disciplined and patient approach we have consistently applied to M&A. We're not interested in pursuing growth for its own sake, but instead selectively adding businesses that strengthen our portfolio and enhance Cadre's long-term earnings and cash flow profile. For each of these transactions, we have maintained a high bar for strategic and financial fit. Turning to the next slide, we highlight the key criteria that guide our process when evaluating potential acquisitions. We are steadfast in our commitment to businesses with strong margins, leading and defensible market positions, recurring revenue characteristics and durable cash generation. We also look for opportunities where the Cadre operating model can drive value creation. We enter the balance of 2026 with a substantial financial flexibility and a robust pipeline of potential acquisitions. We continue to target transactions focused on complementary capabilities, new market access and greater penetration of our existing customer base. Turning now to a summary of Cadre's financial performance, Slide 12 details our second quarter results. Q2 net sales of $207.1 million increased 32% year-over-year and 5% organically with strong growth in armor, duty gear, nuclear and distribution. Gross profit of $87.1 million was up 36% year-over-year, with gross margins expanding 120 basis points year-over-year and 209 basis points when you adjust for inventory step-up amortization. Second quarter adjusted EBITDA increased 56% year-over-year. Of note, second quarter net income includes $2 million of inventory step-up amortization and $5.9 million of contingent consideration expense. Also, FX headwinds of $6.6 million adversely impacted bottom line earnings in Q2. As we expected, we saw a significant increase in revenue and profitability sequentially from Q1. As Brad indicated earlier, we are proud of the team's ability to execute on their demand. A few of the businesses had the opportunity to ship product earlier than expected, and they were able to take advantage of those opportunities within the quarter. We broadly saw upside in most of the core portfolio, including Armor, Duty gear and nuclear and crowd control. In addition, we are pleased to see both TYR Tactical and Alien Gear execute above our expectations in the quarter, contributing to outstanding results. Illustrated on Slide 13 is net sales and adjusted EBITDA growth year-over-year, including our upwardly revised 2026 guidance, which I'll discuss more in a moment. Our full year outlook now implies year-over-year revenue and adjusted EBITDA growth of 24.4% and 26.7%, respectively, at the midpoints. You can see that over the last several years, Cadre has delivered consistent and stable growth. Our resilience is a key differentiator with businesses that are largely unaffected by economic, political, geopolitical and other cycles. On Slide 14, we present our capital structure as of June 30, 2026. Our net leverage was down to 2.5x. We believe Cadre's strong free cash flow generation, coupled with the strength of our balance sheet gives us ample financial flexibility to continue to pursue organic and inorganic opportunities. We provide our increased 2026 outlook on Slide 17. Net sales are now expected to be between $749 million and $769 million, and our adjusted EBITDA guidance is between $139 million and $144 million, implying adjusted EBITDA margins of 18.6%. Our guidance now fully incorporates Alien Gear and reflects our improved view of full year revenue and profitability. We still expect organic revenue growth to be in the 3% to 5% range on a full year basis. As Brad mentioned earlier in our call, our strong backlog exiting Q2 and the team's execution into Q2 gives us confidence in our full year guidance. We expect Q3 revenue to be around $190 million with adjusted EBITDA margins of about 18%, which implies that Q4 will have a very similar profile to Q2. Overall, our businesses are performing well, and we expect continued strong demand in 2026 across our core markets in public safety and nuclear safety. I'll now turn it back to Brad for concluding comments. Brad Williams: Thank you, Blaine. In closing, as you can see on Slide 16, we executed well across all facets of the business during the second quarter. We exceeded our pricing target, benefited from favorable product mix and increased backlog by $13 million sequentially, supported by strong demand from -- for our EOD products. We also completed the acquisition of Alien Gear Holsters and continue to advance a healthy M&A funnel. Looking forward, we are focused on strengthening our portfolio, further implementing the Cadre operating model throughout the organization and building demand across our core markets in public safety, defense and nuclear safety. Our improved outlook for 2026 reflects our confidence in the opportunities ahead. We look forward to continuing to update you on our progress. With that, operator, please open up the lines for Q&A. Operator: [Operator Instructions] Our first question comes from the line of Tomo Sano from JPMorgan. Tomohiko Sano: Congrats on the quarter. Could you talk about breaking down the $13 million year-to-date increase in nuclear backlog across environmental management, national defense and commercial nuclear? And if you could give us more color, the key drivers in each, please? Warren Kanders: Absolutely. Great question, Tomo. Majority of the increase we've seen through this quarter is really been in the commercial nuclear energy and environmental remediation. We've talked quite a bit previously that we started to see the funnel increase in those areas, in particular, commercial nuclear. And that's really what we're seeing is the team's hard work and efforts building that up. We've also seen a nice pickup in Europe, particularly around Northern Europe around some of the projects they have going there, which is environmental remediation. So that first part of the comment was more U.S.-based around commercial nuclear energy and the environmental remediation in the U.S., but we're also seeing strength on that environmental remediation in the U.S. when it comes to backlog. I also would like to point out on the commercial nuclear side from revenue coming out of Europe, we did see very positive strength and momentum in the quarter on the revenue side. They had the backlog coming into the quarter. But -- so when you think about geographically, both in the U.S. as well as Europe, we are seeing that strength both really on that commercial nuclear component of it as well as the environmental remediation. Tomohiko Sano: And just one follow-up. Given that mix, how should we think about nuclear margin quality in back half and beyond? And when should the Cadre operating model benefits begin to show up over the next couple of quarters? Blaine Browers: When we think about the margins, there is a pretty large degree of mix within the nuclear platform as we've referenced prior. Looking for the back half, I would say on the U.S. side of the business, we would expect the back half to look very similar to Q2 margin. They had a little bit lower margin in Q1, so they'll first half, second half will improve between those 2. On the more European side of the business, Q2 was favorable margin or favorable mix in the quarter driven by some of the robotic arms. We don't expect that to recur. So, we expect the European side to look more like we saw in Q1, which would be slightly down on a margin basis, just really returning to normal mix. Warren Kanders: In terms of the Cadre operating model portion of the question, so on the nuclear side of things, whether it was the acquisition we made from Carsury plc in the U.K. or the Alpha Safety acquisition, they're all in the early stages of the operating model. So most of the focus is on your standard delivery, quality, safety, inventory, that side of things. So from a cost perspective, showing up at the top level from a Cadre view, I don't expect to see that this year as they continue to progress through the model. Operator: Our next question comes from the line of Larry Solow from CJS Securities. Lawrence Solow: Congrats guys on a really nice quarter. Just curious on what the upside in the quarter and I guess on the outlook, maybe combine that with just the bookings question in the backlog, it seems like a lot of it is going up on the ELD and sensors and robots. But just curious what's driving the upside this quarter, this year and how your general -- your law enforcement base business is doing? Warren Kanders: Yes. On the, I guess, the Q2 stellar performance by the team, I'd really split it in half, not a 50-50 split, but really 2 components driving it. The first, the really core public safety businesses had been a part of Cadre since the beginning, the crowd control, the duty gear and armor businesses, all had very strong quarters, right? Some of that is demand that we received within the quarter that was unexpected, but a big portion of too was pull aheads where the team -- I'd say pull aheads, but really shipments earlier than expected, where we had taken a view that customer would want to order in Q3. As we progress through the quarter, the customer then changed their expectations or requested an earlier shipment and the teams were able to execute on it, which, again, we're very thankful and frankly, proud of the team for the size of that swing. of the movement. The second component is the acquisitions, both Alien Gear and TYR really had a phenomenal quarter. And I think it gives us a lot of confidence as we get into guidance to increase that outlook based on how those businesses have performed year-to-date. So we're very excited with the quarter. The backlog complexion, it becomes a bit kind of outsized on the EOD, right? We've had a very, very significant demand on the EOD side of the world, which has really driven quite a bit. But even when you peel that back, Alair and remove that outsized impact, we're still -- compared to year-end, we're still seeing really significant 10%, 15% growth in the armor business backlog, a very sizable increase in the duty gear backlog larger than that and then an increase in nuclear, as Brad mentioned, of almost $13 million. So, you look across there, and I would say from a backlog perspective, everyone is ahead of where we would have expected them through the year. So again, kind of going back to guidance, it gives us a lot of confidence in the back half of the year. Lawrence Solow: And I guess, Blaine, while I got you here, a question for you, I just follow up. The gross margins, 42.6% in the quarter, and I guess, 43.8% if you add back the step-up, which is a really nice year-over-year improvement. And your revenue grew a lot, but a lot of that was inorganic. And so nothing -- maybe a little bit of unusual, you said some pull forward. So maybe that help the margins a little bit? I guess how should we -- maybe you can just give us a little bit of color on the strength in this quarter and how we should think about the margins going forward? Blaine Browers: Thanks, Larry. A few components inside the quarter on margin. One, I referenced when Tomo asked the question about revenue that the -- we had significant favorable mix in the zircoy side of the world, particularly robotic arms. So those margins were up pretty significantly, and we expect them to normalize in the back half. There was a lot of volume leverage, right? And this is true in our model where as the volume upticks, whether it's gross margin or EBITDA, there's quite a bit of leverage there. So I think as you're kind of -- you didn't ask, but kind of thinking about the back half, I think Q4 with a similar volume could have a very similar profile to Q2. But we think as we move into Q3 with a little bit lower revenue and mix returning that we'll have a little bit of kind of return -- reversion to the mean essentially. Operator: Our next question is from the line of Sheila Kahyaoglu from Jefferies. Adam Samuelson: This is Adam Samuelson on for Sheila. So I guess the first question is just thinking about the organic growth outlook. You highlighted about 5% organic in Q2 kind of alongside the normalization in distribution demand. Can you just help us think about the underlying demand trends you're seeing across public safety and nuclear end markets and how you think -- how sustainable you think that organic growth rate is into early 2027. Brad Williams: This is Brad. Thanks for the question. So the outlook is positive when you look across the macros, whether it's the nuclear macros that I spent some time on the prepared remarks or from a public safety perspective. All indications have been continued focus on our products because the safety side of what those products are. So, demand seems strong. It continues to be strong. It looks good as we look forward, both on the nuclear side and also on the public safety piece. And we've shown that through the wins that we've announced over the past 6 or 8 months. I talked about FBI win that we're a part of. We've had the BEMO, the sensor win. We've also had -- that we talked about last time, which was a large ballistic seat win overall with GDLS, and we've got other ones that are queued up, too. So we're positive on the outlook. Adam Samuelson: That's helpful. And then just as we think about the revenue outlook for the balance of the year, just with the backlog that you have and momentum coming out of Q2 and that end market commentary, just help us think about kind of what occurs to get you to the high end versus the low end of the revenue guidance range at this point? Brad Williams: Yes. I think the -- to get to the high end, there's always a number of what we consider large orders or kind of projects. And a lot of those are binary, right, either win or you don't. And when we think about our range and putting together the kind of internal forecast and external guidance, it's really risk rating some of those opportunities. And so it's not just one macro driver or one particular business. I'd say majority of our businesses have the potential to contribute to that high-end guidance. And again, we're -- we have that positive momentum. We've seen that backlog build. So everything points in a very positive direction for us. But with that said, a lot of these are government procurement based, right? There's always a risk that something gets delayed a week or 2 weeks, not that we won't get the award, but it gets delayed and that can shift revenue. So we're taking what we feel is a cautious approach on the outlook. I want to ensure we have high say do and try to mitigate some of those out of our control risks that could occur. Operator: Next question will be from Jeff Van Sinderen from B. Riley Securities. Jeff Van Sinderen: Realize it's relatively small revenues, but it sounds like Alien Gear is running strong right out of the gate for you. Can you speak about what's driving that business? And then what contribution should we be thinking about going forward from Alien? Warren Kanders: Yes. Great question, Jeff. So definitely ahead of expectations. We were cautious. We talked about last -- we've talked previously about being cautious with the acquisition because it was a company -- Alien Gear was a company coming out of bankruptcy, a bit different situation that can send mixed signals to the customer base. So that's why we started out being cautious with some of those expectations. I feel like the Alien Gear team and the Safariland Duty Gear team have done a really, really good job communicating the fact that it's business as usual within the businesses overall as we work to do the integration work. Our plans are not to eliminate the Alien Gear brand. We've been very, very clear on that. The Alien Gear brand, we made that acquisition because we do think it is a strong brand in the consumer market and then also within its customer base within the professional side of things. So I feel like the team has done a really nice job out of the gates with that side of things. Now where can it land? So we're in the early days of integration activities. We've already completed the -- what I call the consumer integration activity where we've taken the Alien Gear team and analyzed what Alien Gear does from a consumer side of things. We've combined the team with the Safariland consumer team, and those teams are fully integrated now and they're executing on their strategies that they've developed. So that one is done at this point. The next one that we've also communicated, unfortunately, for the team up in Idaho, we've made an announcement that we're closing the Alien Gear facility there. That is their only manufacturing location. We completed those discussions and we'll take the next 12 to 18 months to then move that facility and integrate it into the Safariland manufacturing infrastructure where we have significant scale globally within duty gear around the world. So that one has been communicated. And then the last one is the professional side of things. That one is going to take longer as we work with both teams at Safariland and also Alien Gear through those strategies. So things are going well. And then where will we eventually land, you should expect overall, the margins that we see for the Alien Gear business to be more like Cadre type margins as we work on the various activities that I just talked about. Blaine Browers: And then, Jeff, as far as expectations for the year for Alien Gear, we have them, they did about $4.8 million in the quarter. We haven't baked into the guide at $11 million. I think we're still -- been about a quarter with them. It's been great out of the gates, but still a bit of cautiousness to make sure there's no overhang coming out of bankruptcy. Jeff Van Sinderen: And then can you remind us on the FBI panels? When should we expect the first panels to get delivered to the FBI? And then just wondering, are the DEA or some of these other agencies, are they aware of that product? Warren Kanders: Absolutely. When you look at that program, as I mentioned in the prepared remarks, other agencies can buy off of that program. So that IDIQ that I mentioned covers multiple agencies. So, they are aware of that. In terms of when shipments will begin, we've already received demand on that program. So it's already started. We're not in what I would call a stabilized demand environment at this point. The Safariland team is working with predictive ballistics that won the award on nailing down what that demand looks like overall with the FBI for at least the next 6 months out. Keep in mind that $60-plus million IDIQ is over a 5.5-year period. So that's the length of time for it. Operator: Our next question comes from the line of Andrew from Bank of America. Unknown Analyst: This is Andrew on for Ron. Given the higher margin expectations in the second half, near those 20% levels, what products are driving that expansion? Is it Armor, Duty gear or something else in particular? Blaine Browers: No, I would say it's nothing in particular. The back half will be margin -- gross margin EBITDA rate consistent with what we saw in Q2. So when you look at the first half, that pressure is really Q1 based and really based upon volumes. So as those volumes have ticked up to normal rates, we look ahead and say, frankly, margins -- someone asked the question earlier, gross margins kind of slightly down, EBITDA margin slightly down in Q3 and then Q4, a similar profile to Q2. So when we look at it, it looks very normalized. It's just that Q1 was a bit of a tougher quarter based on volume and mix. So it's nothing abnormal. In fact, I would say it's more normal mix than abnormal. Unknown Analyst: And if I could just sneak in a second one. It seems like the M&A pipeline is strong. And obviously, the company is positioned financially to capitalize on the right opportunity. What specific add-on capabilities or market access really interest to you guys? Is there a certain region or type of product? I'd appreciate any color there. Warren Kanders: Yes. So it's -- when we look at regions or products, so first of all, we're focused on the 2 end markets that we're in today. So on the nuclear front and also on public safety. We do get the question sometimes, are we done with public safety? The answer is no. There's plenty of additional opportunities out there in the public safety side of things. But we're looking for those same characteristics that we've talked about in the past in terms of M&A criteria. So we look for replacement cycle type revenue, recurring revenue, obviously, high margin that meets our margin thresholds. We're not scared of what we call fix-it type businesses. But if we do those, we have to make sure that we've got a clear path to the Cadre level type margins overall. High cash flow is also important on our list so that we can obviously use that to continue to fund additional M&A and pay down debt as we go along. So that's the generic criteria that we have, and it applies whether it's on the nuclear side or the public safety side. So we're excited about the funnel. We're excited about what's in there. Keep in mind, similar to the prepared remarks that Alien Gear was a nice smaller bolt-on that we feel like we can leverage our scale that we have within the Safariland brand within Duty here and then Radar, our Holster company over in Italy. And that's also an option for us as we go forward, potential bolt-ons that we can add and feel like that we can add significant value to. So that's what we look for. Operator: And our last question is from Matt Koranda from ROTH Capital Markets. Matt Koranda: I guess, the 5% organic growth in the second quarter, can you just parse out, I guess, organic growth between nuclear and the public safety side of the business? And also, I guess, just further to that, I was wondering, I guess, you guys were talking last quarter about some headwinds in Container Solutions, I think, around some of the Alpha products. But it doesn't sound like maybe that's the case anymore. Maybe can you just talk a little bit about what has changed in that end market, I guess, in the last couple of months that's driving improvement? Warren Kanders: Absolutely. Thanks for the question, Matt. On organic, public safety was just a touch below 5%. Nuclear was actually high singles, low double digits. So for nuclear, right, we had essentially 2 months and a quarter of Zircaloid and baked into the organic just those first couple of weeks of April was inorganic. And then distribution had a good quarter as well, right? So they were right there at mid-single digits. So it wasn't an outsized contribution from any one particular space, but kind of broadly strength across the public safety, nuclear and distribution side. So again, that gives us a lot of confidence that we're -- it's broad-based and it helps support the back half. It's not one particular business unit. Brad Williams: Okay. And then, Matt, your question on the nuclear side of things, just to kind of go back to what we talked about previously, it was with reference to Alpha Safety and a portion of the Alpha Safety business that there was an executive order around down blending that reduced some of the volume that we have in the container side of things. To be clear on that, that affects less than 8% of the revenue within our nuclear portfolio of businesses overall. There was more of an effect on mix from a margin perspective. But from a demand perspective, it's not concerning to us. When we look at the pickup in demand that we've seen in other areas. For example, I think we may have touched on it, but manual manipulators within the Wälischmiller business in Germany is running really hot right now in terms of nuclear fuel type applications where manual manipulators are being used within those applications for hot cells. So just to put it in perspective, again, it's less than 8% that we saw the executive order effect from a top line perspective, and then we're seeing an offset within other types of applications within nuclear. And then just to keep in mind that when we're talking to the nuclear cleanup side of things, I mean, there are still -- you can take different estimates, but 50, 60-plus years of cleanup activity that still has to take place within the U.S. and within other countries. So even though the down blending executive order came out, there's still work that's being done for that cleanup. And then there's a volume of that cleanup that will continue to increase over time. Matt Koranda: Very clear and helpful on that one, Brad. And then I guess shifting gears to the TYR. I was curious if you guys are finding any new or interesting commercial synergies now that you've been integrating that business for a bit. Just curious to hear, I guess, a little bit about the growth trajectory of that business and any successful sort of rotation activity you've had. Brad Williams: Yes. There's -- actually, we're having fun, quite frankly, with the TYR business and the Safariland teams coming together when you look at the strengths that both teams have and how those can be leveraged across the board. And there's 4 or 5 projects that have been kicked off among the teams that they're working together on. Some of those I can't go into great detail because it externally can affect what we're doing at both of those companies. But in general, what we're seeing is some products within the TYR portfolio that the team is working on, future steps on those products that can be sold within the Safariland channels, which would be great. So they fill some gaps within the Safariland side of things. Keeping in mind that the Safariland revenue, as we talked about in the past and the makeup -- the customer makeup of that revenue is the polar opposite of tears. So it gives a really good opportunity to take any products that TYR has that there might be some gaps in product lines within Safariland and use those to fill those gaps. So that's one. We actually have some opportunities within the Med-Eng business. You probably wouldn't have thought that, where we have ballistics within the Med-Eng product portfolio within our bomb suits and other products. And so with TYRr's capital capabilities that we've referenced in the past, they're one of very few folks around the world that have the type of capital that they have and the capability, it gives us an opportunity also then to use TYRr to potentially be involved in various new product development projects with Med-Eng, for example, which is one active project that's going on today. I could go on and on, Matt. There's a list of 5 or 6 items that the team has on being executed as we speak and working through. And then when we get to the point that those become visible externally, we can reference those more and talk about those. Matt Koranda: Maybe just last one, if I could sneak one more in. On the acquisition front, maybe does the level of net leverage that you have right now constrain you to doing tuck-ins? Is that the way to think about M&A activity for the rest of the year? Or are there bigger items that you could kind of get done that maybe we're not thinking creatively enough? Blaine Browers: Good question, Matt. We've said our upper end of leverage is really 3.5, right? So that gives us quite a bit of dry powder for acquisitions. We've also said, right, to get into that kind of 3x leverage kind of area, we have -- we have to be really comfortable with a quick kind of paydown. So I think that's a bit of status quo. We would look at it and say we've closed here, right? We've delevered from there. We've picked up the earnings the last 1.5 quarters. And -- we have lots of capability. But the right tuck-in is always compelling. Alien Gear is a great example of that where fairly small deal, just over $10 million, but really very compelling when you think about it post synergy. So we're going to be -- obviously doing our diligence, we're going to be a bit opportunistic. If the right bolt-on or tuck-in comes along, those become a very easier to do with a high level of confidence. And at the same time, we have the dry powder to look at bigger deals in the back half of the year. Operator: I will now hand the call over to Mr. Brad Williams for closing remarks. Brad Williams: Thank you, operator. I'd like to thank everyone again for joining us on today's call and for your continued interest in Cadre. Operator: Thank you for joining the call today. You may now disconnect. Before you buy stock in Cadre, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Cadre wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $403,337!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,334,946!* Now, it’s worth noting Stock Advisor’s total average return is 958% — a market-crushing outperformance compared to 214% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors. See the 10 stocks » *Stock Advisor returns as of August 12, 2026. This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Cadre Holdings (CDRE) Q2 2026 Earnings Call Transcript was originally published by The Motley Fool

In early August 2026, Cadre Holdings, Inc. reported second‑quarter 2026 results showing sales rising to US$207.13 million from US$157.11 million a year earlier, while net income edged down to US$11.41 million from US$12.21 million and included a non‑cash impairment expense of US$148,000. Despite softer earnings, Cadre raised its full‑year 2026 net sales guidance to a range of US$749 million to US$769 million, signaling management’s confidence that strong demand for its safety and survivability equipment can support higher revenue than previously expected. With full‑year 2026 net sales guidance raised to as much as US$769 million, we’ll examine how this shapes Cadre’s investment narrative. Explore 26 top quantum computing companies leading the revolution in next-gen technology and shaping the future with breakthroughs in quantum algorithms, superconducting qubits, and cutting-edge research. To own Cadre Holdings, you have to believe demand for safety and survivability gear can translate into steadily rising sales, even when earnings are choppy. The latest results show strong revenue growth alongside softer profitability, so the short term catalyst remains Cadre’s ability to convert its growing order book into healthier margins. The biggest near term risk is still timing and size of government and law‑enforcement contracts, and this quarter’s news does not materially change that. The most relevant development is Cadre’s decision to raise its 2026 net sales outlook to US$749 million to US$769 million. That higher range reinforces the near term revenue catalyst, but it also raises the bar against which any contract delays, margin pressure, or integration hiccups will be judged. How well Cadre executes against this updated target will likely shape how investors view both its growth ambitions and its sensitivity to procurement cycles. Yet even with stronger sales guidance, investors need to be aware that Cadre’s reliance on government budgets could still... Read the full narrative on Cadre Holdings (it's free!) Cadre Holdings’ narrative projects $891.6 million revenue and $86.6 million earnings by 2029. This requires 11.9% yearly revenue growth and a $49.7 million earnings increase from $36.9 million today. Uncover how Cadre Holdings' forecasts yield a $46.80 fair value, a 43% upside to its current price. Some analysts were already very optimistic, projecting revenues around US$941.1 million and earnings near US$96.6 million by 2029, while also flagging concentration in government contracts as a key vulnerability, so this new guidance could either support that bullish view or prompt a rethink of how realistic those higher expectations really are. Explore 2 other fair value estimates on Cadre Holdings - why the stock might be worth just $46.80! Disagree with existing narratives? Extraordinary investment returns rarely come from following the herd, so go with your instincts. A great starting point for your Cadre Holdings research is our analysis highlighting 3 key rewards and 3 important warning signs that could impact your investment decision. Our free Cadre Holdings research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Cadre Holdings' overall financial health at a glance. Every day counts. These free picks are already gaining attention. See them before the crowd does: Invest in the nuclear renaissance through our list of 89 elite nuclear energy infrastructure plays powering the global AI revolution. The future of work is here. Discover the 37 top robotics and automation stocks leading the charge in AI-driven automation and industrial transformation. Find 51 companies with promising cash flow potential yet trading below their fair value. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include CDRE. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

Interested in Cadre Holdings, Inc.? Here are five stocks we like better. Strong Q2 performance: Net sales rose 32% year over year to $207.1 million, adjusted EBITDA increased 56%, and gross margin expanded. Cadre cited broad demand across armor, duty gear, public safety and nuclear safety markets. Full-year outlook raised: Cadre now expects 2026 revenue of $749 million to $769 million and adjusted EBITDA of $139 million to $144 million, including the contribution from its Alien Gear Holsters acquisition. Record backlog and acquisition integration: Backlog reached a new high, supported by EOD, armor and nuclear orders, including major U.S. government contracts. Cadre is consolidating Alien Gear production into Safariland’s network and expects further margin improvement as integration progresses. Cadre (NYSE:CDRE) reported second-quarter results marked by higher sales, profitability and backlog, citing demand across public safety and nuclear safety markets and contributions from recent acquisitions. Chairman and CEO Warren Kanders said net sales increased 32% year over year in the second quarter, while adjusted EBITDA rose 56%. The company also reported 5% organic top-line growth. Kanders said the results reflected recurring demand for mission-critical products serving law enforcement, first responders, military customers and nuclear markets. → Meta’s Earnings Drop Shows Wall Street Wants More Than Ad Growth “Our performance through the first half of the year, combined with our record orders backlog and continued momentum, reinforces our confidence in Cadre’s outlook,” Kanders said. Chief Financial Officer Blaine Browers said second-quarter net sales totaled $207.1 million, up 32% from a year earlier, with growth in armor, duty gear, nuclear products and distribution. Gross profit rose 36% to $87.1 million. Gross margin expanded 120 basis points year over year, or 209 basis points excluding inventory step-up amortization. → 4 Oil and Gas ETF Plays as Prices Stay Sky-High Second-quarter net income included $2 million of inventory step-up amortization and $5.9 million of contingent consideration expense, Browers said. Foreign-exchange headwinds adversely affected bottom-line earnings by $6.6 million. Cadre raised its 2026 guidance and now expects: Net sales of $749 million to $769 million. Adjusted EBITDA of $139 million to $144 million. Adjusted EBITDA margin of approximately 18.6%. Organic revenue growth of 3% to 5% for the full year. → Sandisk Just Delivered a Blowout Quarter—Here's Why the Stock Is Falling At the midpoint of the updated ranges, the outlook implies revenue growth of 24.4% and adjusted EBITDA growth of 26.7% year over year, according to Browers. The guidance incorporates the acquisition of Alien Gear Holsters and reflects the company’s improved view of full-year revenue and profitability. For the third quarter, Cadre expects revenue of about $190 million and adjusted EBITDA margins of roughly 18%. Browers said the company expects the fourth quarter to have a financial profile similar to the second quarter. The company’s net leverage stood at 2.5 times as of June 30, 2026. President Brad Williams said Cadre’s backlog reached a record level for the second consecutive quarter and increased $13 million sequentially. The increase was supported by demand for explosive ordnance disposal, or EOD, products. Browers said backlog also rose in armor, duty gear and nuclear operations, with armor backlog up 10% to 15% from year-end even excluding the impact of large EOD-related awards. During the quarter, Med-Eng received an $8.4 million purchase order under its five-year, $50 million indefinite-delivery, indefinite-quantity contract for the U.S. military’s Blast Exposure Monitoring program. The order brought total purchase orders received under the program to $18.4 million. Separately, Safariland’s SX HP ballistic panel was selected as the ballistic package for Predictive Ballistics’ OVERT armor kit for the FBI. Predictive Ballistics received a five-year, $61 million IDIQ contract for the kit, which is also available to the U.S. Marshals Service, the Drug Enforcement Administration and other Department of Justice agencies. Williams said Cadre has already received demand under the program, though volumes are not yet stabilized. Within nuclear safety, Cadre said backlog has increased by $13 million since the end of 2025. Browers said most of the increase came from commercial nuclear energy and environmental remediation, including activity in the U.S. and northern Europe. Commercial nuclear operations in Europe also showed positive revenue momentum during the quarter. Management said an executive order related to downblending affected a portion of the Alpha Safety container business, creating margin and mix pressure in that subsegment. Williams said the affected area accounts for less than 8% of Cadre’s nuclear revenue and does not indicate weaker demand in the company’s broader nuclear safety business. Cadre completed the acquisition of Alien Gear Holsters during the second quarter. Kanders said the transaction illustrates the company’s strategy of pursuing smaller, complementary bolt-on acquisitions alongside potentially larger strategic opportunities. Browers said Cadre has deployed approximately $455 million across seven transactions during the past four years, including Alien Gear. Management said it expects at least one additional acquisition in 2026 and continues to evaluate opportunities in both public safety and nuclear markets. Alien Gear generated about $4.8 million of revenue in the quarter, and Cadre has included approximately $11 million from the business in its full-year guidance, Browers said. Management said the business performed above expectations but remained cautious because Alien Gear was acquired out of bankruptcy. Williams said Cadre has completed the consumer-side integration of Alien Gear with Safariland’s consumer team. The company also plans to close Alien Gear’s manufacturing facility in Idaho and shift production into Safariland’s manufacturing network over the next 12 to 18 months. Cadre expects Alien Gear’s margins to move toward Cadre-level margins as integration work progresses. Management also cited early collaboration between TYR Tactical and Safariland, including efforts to identify TYR products that could fill gaps in Safariland’s product offerings and potential product-development work involving Med-Eng. Looking ahead, Williams said government procurement timing remains a factor in reaching the high end of Cadre’s guidance range, as awards can be delayed even when underlying demand remains intact. Still, management said it sees broad-based momentum across public safety, distribution and nuclear operations. Cadre (NYSE:CDRE) is a technology‐driven real estate investment platform that offers accredited and institutional investors direct access to institutional‐grade commercial properties. Established in 2014, Cadre leverages a data-centric approach to identify, underwrite and manage investments in multifamily, office, retail and industrial assets across major U.S. markets. The firm's platform is designed to streamline the investment process, from deal sourcing and due diligence to ongoing asset management and reporting. Through its online marketplace, Cadre provides a curated selection of equity and preferred equity offerings, allowing investors to participate in individual properties or diversify across a managed portfolio. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Cadre Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

Cadre Holdings, Inc. (CDRE) came out with quarterly earnings of $0.26 per share, missing the Zacks Consensus Estimate of $0.29 per share. This compares to earnings of $0.3 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -10.35%. A quarter ago, it was expected that this company would post earnings of $0.09 per share when it actually produced earnings of $0.15, delivering a surprise of +66.67%. Over the last four quarters, the company has surpassed consensus EPS estimates two times. Cadre Holdings, Inc., which belongs to the Zacks Security and Safety Services industry, posted revenues of $207.13 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 16.11%. This compares to year-ago revenues of $157.11 million. The company has topped consensus revenue estimates just once over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Cadre Holdings, Inc. shares have lost about 24.3% since the beginning of the year versus the S&P 500's gain of 13%. While Cadre Holdings, Inc. has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Cadre Holdings, Inc. was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.42 on $192.36 million in revenues for the coming quarter and $1.47 on $736.75 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Security and Safety Services is currently in the top 45% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Resideo Technologies (REZI), another stock in the same industry, has yet to report results for the quarter ended June 2026. The results are expected to be released on August 12. This residential comfort and security systems maker is expected to post quarterly earnings of $0.68 per share in its upcoming report, which represents a year-over-year change of +3%. The consensus EPS estimate for the quarter has been revised 1.9% higher over the last 30 days to the current level. Resideo Technologies' revenues are expected to be $1.93 billion, down 0.4% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Cadre Holdings, Inc. (CDRE) : Free Stock Analysis Report Resideo Technologies, Inc. (REZI) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Grew Quarterly Net Sales 32% and Gross Profit 36% Year-Over-Year Increased Quarterly Adjusted EBITDA and Expanded Adjusted EBITDA Margin Both Sequentially and Year-Over-Year Orders Backlog Increases to Record $368 Million, Marking Second Consecutive Quarterly Record Raises Guidance to Full Year 2026 Net Sales of $749 to $769 Million and Adjusted EBITDA of $139 to $144 Million JACKSONVILLE, Fla., August 05, 2026--(BUSINESS WIRE)--Cadre Holdings, Inc. (NYSE: CDRE) ("Cadre" or "Company"), a global leader in the manufacturing and distribution of safety equipment and other related products for the law enforcement, first responder, military and nuclear markets, announced today its consolidated operating results for the three and six months ended June 30, 2026. Net sales of $207.1 million for the second quarter; net sales of $362.6 million for the six months ended June 30, 2026. Gross profit margin of 42.1% for the second quarter; gross profit margin of 40.6% for the six months ended June 30, 2026. Net income of $11.4 million, or $0.26 per diluted share, for the second quarter; net income of $13.4 million, or $0.31 per diluted share, for the six months ended June 30, 2026. Adjusted EBITDA of $42.0 million for the second quarter; Adjusted EBITDA of $63.1 million for the six months ended June 30, 2026. Adjusted EBITDA margin of 20.3% for the second quarter; Adjusted EBITDA margin of 17.4% for the six months ended June 30, 2026. Declared quarterly cash dividend of $0.10 per share in July 2026. "We delivered outstanding Q2 results that exceeded our expectations, reflecting continued strong demand trends for our mission critical safety equipment, together with consistent execution and the benefits of the Cadre operating model," said Warren Kanders, CEO and Chairman. "Net sales, gross profit, and Adjusted EBITDA increased significantly this quarter, with an Adjusted EBITDA margin that improved 310 basis points year-over-year. Our strong year-to-date financial and operational performance, combined with our record orders backlog and continued momentum entering the second half of the year, gives us increased confidence in our outlook. As a result, we are raising our full-year guidance and remain well positioned to deliver meaningful growth and profitability in 2026 and beyond." Mr. Kanders added, "We are firmly focused on strengthening our industry-leading safety platform and delivering differentiated capabilities to a growing global customer base. Building on our recent bolt-on acquisition of a recognized holster brand, disciplined M&A remains a core component of our growth strategy. We are actively evaluating a robust pipeline of complementary, mission-critical businesses with leading market positions, strong financial profiles, durable demand characteristics and significant potential for value creation through operational improvement and effective integration." Second Quarter and Six-Month 2026 Operating Results For the quarter ended June 30, 2026, Cadre generated net sales of $207.1 million, as compared to $157.1 million for the quarter ended June 30, 2025. This increase was primarily a result of current year acquisitions and increased demand for nuclear safety, armor, and duty gear products. For the six months ended June 30, 2026, Cadre generated net sales of $362.6 million, as compared to $287.2 million for the six months ended June 30, 2025, also mainly driven by current and prior year acquisitions, partially offset by lower agency demand for hard goods in the Distribution segment. For the quarter ended June 30, 2026, Cadre generated gross profit of $87.1 million, as compared to $64.2 million for the quarter ended June 30, 2025. For the six months ended June 30, 2026, Cadre generated gross profit of $147.3 million, as compared to $120.4 million for the prior year period. Gross profit margin was 42.1% for the quarter ended June 30, 2026, as compared to 40.9% for the quarter ended June 30, 2025, mainly driven by favorable pricing, partially offset by an increase in inventory step-up amortization. Gross profit margin was 40.6% for the six months ended June 30, 2026, as compared to 41.9% for the prior year period. Net income was $11.4 million for the quarter ended June 30, 2026, as compared to net income of $12.2 million for the quarter ended June 30, 2025. The decrease was primarily a result of increased contingent consideration expense, compensation expense and adverse foreign currency fluctuations, partially offset by increased gross profit. Net income was $13.4 million for the six months ended June 30, 2026, as compared to net income of $21.5 million for the prior year period, also primarily as a result of increased contingent consideration expense, compensation expense and adverse foreign currency fluctuations, partially offset by increased gross profit. Cadre generated $42.0 million of Adjusted EBITDA for the quarter ended June 30, 2026, as compared to $27.0 million for the quarter ended June 30, 2025. Adjusted EBITDA margin was 20.3% for the quarter ended June 30, 2026, as compared to 17.2% for the prior year period. Cadre generated $63.1 million of Adjusted EBITDA for the six months ended June 30, 2026, as compared to $47.5 million for the prior period. Adjusted EBITDA margin was 17.4% for the six months ended June 30, 2026, as compared to 16.5% for the prior year period. Product segment gross margin was 42.6% and 41.5% for the second quarter and six months ended June 30, 2026, respectively, compared to 41.7% and 42.9% for the prior year periods. Distribution segment gross margin was 22.8% and 21.4% for the second quarter and six months ended June 30, 2026, respectively, compared to 23.1% and 22.3% for the prior year periods. Liquidity, Cash Flows and Capital Allocation Cash and cash equivalents decreased by $68.9 million from $122.9 million as of December 31, 2025 to $54.0 million as of June 30, 2026. Total debt increased by $67.1 million from $307.3 million as of December 31, 2025 to $374.3 million as of June 30, 2026. Net debt (total debt net of cash and cash equivalents) increased by $136.0 million from $184.4 million as of December 31, 2025 to $320.3 million as of June 30, 2026. Capital expenditures totaled $3.3 million for the second quarter and $6.4 million for the six months ended June 30, 2026, compared with $1.3 million for the second quarter and $2.7 million for the six months ended June 30, 2025. FBI Indefinite Delivery/Indefinite Quantity ("IDIQ") contract On June 2, 2026, Cadre announced that its subsidiary, Safariland, was selected as the ballistic panel provider integrated into Predictive Ballistics LLC's Overt Armor Kit ("OAK"). Predictive Ballistics was recently awarded a five-year, $61.0 million IDIQ contract by the Federal Bureau of Investigation ("FBI"). The OAK system is also available to the United States Marshals Service, the Drug Enforcement Administration, and other Department of Justice agencies. Acquisition of Alien Gear Holsters On April 7, 2026, Cadre completed its acquisition of Alien Gear Holsters and certain assets and liabilities from Tedder Industries, LLC, through a court-supervised bankruptcy auction. Alien Gear Holsters is a leading manufacturer of proprietary holsters and gear for the consumer, law enforcement, military, and security markets. Dividend On July 21, 2026, the Company announced that its Board of Directors declared a quarterly cash dividend of $0.10 per share, or $0.40 per share on an annualized basis. Cadre's dividend payment will be made on August 14, 2026 to shareholders of record as of the close of business on the record date of July 31, 2026. The declaration of any future dividend is subject to the discretion of the Company's Board of Directors. Increased 2026 Outlook Cadre increased its full-year guidance and expects to generate net sales in 2026 of between $749 million and $769 million and adjusted EBITDA in 2026 of between $139 million and $144 million. We expect capital expenditures to be in the range of $10 million to $14 million. Cadre has not provided net income guidance due to the inherent difficulty of forecasting certain types of expenses and gains, which affect net income but not adjusted EBITDA. Therefore, we do not provide a reconciliation of adjusted EBITDA guidance to net income guidance. Conference Call Management will host a conference call on Thursday, August 6, 2026, at 10:00 a.m. EST to discuss the latest corporate developments and financial results. The dial-in number for callers in the US is (800)-715-9871 and the dial-in number for international callers is 646-307-1963. The access code for all callers is 9511718. A live webcast will also be available on the Company’s website at https://www.cadre-holdings.com/. A replay of the call will be available through August 20, 2026. To access the replay, please dial 800-770-2030 in the U.S. or +1-609-800-9909 if outside the U.S., and then enter the access code 9511718. About Cadre Headquartered in Jacksonville, Florida, Cadre is a global leader in the manufacturing and distribution of safety products. Cadre's equipment provides critical protection to allow users to safely and securely perform their duties and protect those around them in hazardous or life-threatening situations. The Company's core products include body armor, explosive ordnance disposal equipment, duty gear and nuclear safety products. Our highly engineered products are utilized in over 100 countries by federal, state and local law enforcement, fire and rescue professionals, explosive ordnance disposal teams, and emergency medical technicians. Our key brands include Safariland® and Med-Eng®, amongst others. Use of Non-GAAP Measures The Company reports its financial results in accordance with U.S. generally accepted accounting principles ("GAAP"). The press release contains the non-GAAP measures: (i) earnings before interest, taxes, other income or expense, depreciation and amortization ("EBITDA"), (ii) adjusted EBITDA, (iii) adjusted EBITDA margin, and (iv) last twelve months adjusted EBITDA. The Company believes the presentation of these non-GAAP measures provides useful information for the understanding of its ongoing operations and enables investors to focus on period- over-period operating performance, and thereby enhances the user’s overall understanding of the Company’s current financial performance relative to past performance and provides, along with the nearest GAAP measures, a baseline for modeling future earnings expectations. Non-GAAP measures are reconciled to comparable GAAP financial measures within this press release. We do not provide a reconciliation of the non-GAAP guidance measure adjusted EBITDA for the fiscal year 2026 to net income for the fiscal year 2026, the most comparable GAAP financial measure, due to the inherent difficulty of forecasting certain types of expenses and gains, without unreasonable effort, which affect net income but not adjusted EBITDA. The Company cautions that non-GAAP measures should be considered in addition to, but not as a substitute for, the Company’s reported GAAP results. Additionally, the Company notes that there can be no assurance that the above referenced non-GAAP financial measures are comparable to similarly titled financial measures used by other publicly traded companies. Forward-Looking Statements Please note that in this press release we may use words such as "appears," "anticipates," "believes," "plans," "expects," "intends," "future," and similar expressions which constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are made based on our expectations and beliefs concerning future events impacting the Company and therefore involve a number of risks and uncertainties. We caution that forward-looking statements are not guarantees and that actual results could differ materially from those expressed or implied in the forward-looking statements. Potential risks and uncertainties that could cause the actual results of operations or financial condition of the Company to differ materially from those expressed or implied by forward-looking statements in this press release, include, but are not limited to, those risks and uncertainties more fully described from time to time in the Company's public reports filed with the Securities and Exchange Commission, including under the section titled "Risk Factors" in the Company's Annual Report on Form 10-K, and/or Quarterly Reports on Form 10-Q, as well as in the Company’s Current Reports on Form 8-K. All forward-looking statements included in this press release are based upon information available to the Company as of the date of this press release and speak only as of the date hereof. We assume no obligation to update any forward- looking statements to reflect events or circumstances after the date of this press release. View source version on businesswire.com: https://www.businesswire.com/news/home/20260805587548/en/ Contacts Contact: Gray HudkinsCadre Holdings, [email protected] Investor Relations: IGB GroupLeon Berman / Matt Berkowitz212-477-8438 / 212-227-7098

ADT (ADT) came out with quarterly earnings of $0.23 per share, beating the Zacks Consensus Estimate of $0.22 per share. This compares to earnings of $0.23 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +4.55%. A quarter ago, it was expected that this home security company would post earnings of $0.21 per share when it actually produced earnings of $0.23, delivering a surprise of +9.52%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. ADT, which belongs to the Zacks Security and Safety Services industry, posted revenues of $1.31 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 1.56%. This compares to year-ago revenues of $1.29 billion. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. ADT shares have lost about 8.2% since the beginning of the year versus the S&P 500's gain of 6.9%. While ADT has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for ADT was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.22 on $1.3 billion in revenues for the coming quarter and $0.91 on $5.16 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Security and Safety Services is currently in the bottom 39% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Another stock from the same industry, Cadre Holdings, Inc. (CDRE), has yet to report results for the quarter ended June 2026. The results are expected to be released on August 5. This company is expected to post quarterly earnings of $0.29 per share in its upcoming report, which represents a year-over-year change of -3.3%. The consensus EPS estimate for the quarter has been revised 8.6% higher over the last 30 days to the current level. Cadre Holdings, Inc.'s revenues are expected to be $178.39 million, up 13.6% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ADT Inc. (ADT) : Free Stock Analysis Report Cadre Holdings, Inc. (CDRE) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

JACKSONVILLE, Fla., July 23, 2026--(BUSINESS WIRE)--Cadre Holdings, Inc. (NYSE: CDRE) ("Cadre" or "the Company"), a global leader in the manufacturing and distribution of safety equipment and other related products for the law enforcement, first responder, military and nuclear markets, announced today that it plans to release financial results for the second quarter that ended on June 30, 2026, on Wednesday, August 5, 2026, after the close of market trading. The company has scheduled a conference call to discuss these results on Thursday, August 6, 2026, at 10:00 a.m. ET. The conference call will feature remarks by Warren Kanders, CEO and Chairman of the Board; Brad Williams, President; and Blaine Browers, Chief Financial Officer. To participate in the call, please dial (800)-715-9871 (domestic) or (646)-307-1963 (international). The passcode is 9511718. Please dial into the call at least five minutes before the scheduled start time. The conference call will also be available via a live listen-only webcast and can be accessed through the Investor Relations section of Cadre’s website, https://www.cadre-holdings.com/. Please allow extra time prior to the call to visit the site and download any necessary software that may be needed to listen to the online broadcast. For interested individuals unable to join the live conference call, a replay of the call will be available through August 20, 2026 at (800)-770-2030 or +1-609-800-9909 (international). The passcode for the call and replay is 9511718. An online archive of the webcast will be available on the Company’s website for 30 days following the call. About Cadre Headquartered in Jacksonville, Florida, Cadre is a global leader in the manufacturing and distribution of safety products. Cadre's equipment provides critical protection to allow users to safely and securely perform their duties and protect those around them in hazardous or life-threatening situations. The Company's core products include body armor, explosive ordnance disposal equipment, duty gear and nuclear safety products. Our highly engineered products are utilized in over 100 countries by federal, state and local law enforcement, fire and rescue professionals, explosive ordnance disposal teams, and emergency medical technicians. Our key brands include Safariland® and Med-Eng®, amongst others. View source version on businesswire.com: https://www.businesswire.com/news/home/20260723878624/en/ Contacts Gray HudkinsCadre Holdings, [email protected] Investor Relations: The IGB GroupLeon Berman / Matt Berkowitz212-477-8438 / [email protected] / [email protected] Media Contact: Jonathan Keehner / Andrew SiegelJoele Frank, Wilkinson Brimmer Katcher212-355-4449

JACKSONVILLE, Fla., July 21, 2026--(BUSINESS WIRE)--Cadre Holdings, Inc. (NYSE: CDRE) ("Cadre" or "the Company"), a global leader in the manufacturing and distribution of safety equipment and other related products for the law enforcement, first responder, military and nuclear markets, today announced that its Board of Directors has declared a quarterly cash dividend of $0.10 per share, or $0.40 per share on an annualized basis. Cadre's dividend payment will be made on August 14, 2026 to shareholders of record as of the close of business on the record date of July 31, 2026. The declaration of any future dividend is subject to the discretion of the Company's Board of Directors. About CadreHeadquartered in Jacksonville, Florida, Cadre is a global leader in the manufacturing and distribution of safety products. Cadre's equipment provides critical protection to allow users to safely and securely perform their duties and protect those around them in hazardous or life-threatening situations. The Company's core products include body armor, explosive ordnance disposal equipment, duty gear and nuclear safety products. Our highly engineered products are utilized in over 100 countries by federal, state and local law enforcement, fire and rescue professionals, explosive ordnance disposal teams, and emergency medical technicians. Our key brands include Safariland® and Med-Eng®, amongst others. Forward-Looking StatementsPlease note that in this press release we may use words such as "appears," "anticipates," "believes," "plans," "expects," "intends," "future," and similar expressions which constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are made based on our expectations and beliefs concerning future events impacting the Company and therefore involve a number of risks and uncertainties. We caution that forward-looking statements are not guarantees and that actual results could differ materially from those expressed or implied in the forward-looking statements. Potential risks and uncertainties that could cause the actual results of operations or financial condition of the Company to differ materially from those expressed or implied by forward-looking statements in this release, include, but are not limited to, those risks and uncertainties more fully described from time to time in the Company's public reports filed with the Securities and Exchange Commission, including under the section titled "Risk Factors" in the Company's Annual Report on Form 10-K, and/or Quarterly Reports on Form 10-Q, as well as in the Company’s Current Reports on Form 8-K. All forward-looking statements included in this press release are based upon information available to the Company as of the date of this press release and speak only as of the date hereof. We assume no obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release. View source version on businesswire.com: https://www.businesswire.com/news/home/20260721808754/en/ Contacts Gray HudkinsCadre Holdings, Inc.203 550 [email protected] Investor Relations: The IGB GroupLeon Berman / Matt Berkowitz212 477 8438 / 212 227 [email protected] / [email protected] Media Contact: Jonathan Keehner / Andrew SiegelJoele Frank, Wilkinson Brimmer Katcher212 355 4449

Cadre’s first quarter results for 2026 were marked by robust top-line growth, as management highlighted a 19% year-over-year sales increase driven by continued demand for its law enforcement, military, and nuclear safety products. However, a significant decline in operating margin drew concern, with CEO Warren Kanders noting that certain product mix headwinds—especially in the armor and nuclear segments—offset the benefits of strong recurring demand. President Brad E. Williams also referenced softness in the company’s distribution segment, specifically among third-party discretionary products, while emphasizing that demand for Cadre’s core safety offerings remained resilient. Management acknowledged these mixed dynamics, with Kanders stating, “we are watching [distribution softness] from that standpoint…but from a product segment perspective, we look good.” Is now the time to buy CDRE? Find out in our full research report (it’s free). Revenue: $155.4 million vs analyst estimates of $155 million (19.5% year-on-year growth, in line) Adjusted EPS: $0.18 vs analyst estimates of $0.09 (98.7% beat) Adjusted EBITDA: $21.11 million vs analyst estimates of $19.8 million (13.6% margin, 6.6% beat) The company reconfirmed its revenue guidance for the full year of $747 million at the midpoint EBITDA guidance for the full year is $138.5 million at the midpoint, above analyst estimates of $134.7 million Operating Margin: 4.8%, down from 10.4% in the same quarter last year Market Capitalization: $1.27 billion While we enjoy listening to the management's commentary, our favorite part of earnings calls are the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention. Jeff Van Sinderen (B. Riley Securities): Asked about integration opportunities with TIER Tactical and potential product synergies. President Brad E. Williams responded that both pre-acquisition commitments and early collaborative projects are exceeding expectations, particularly in new product development. Larry Solow (CJS Securities): Inquired whether distribution segment softness signals a longer-term concern. Williams clarified that weakness was isolated to third-party discretionary products and not Cadre’s core safety offerings, which continue to show steady demand. Matthew Koranda (ROTH Capital): Questioned the cadence of organic growth and backlog conversion. CFO Blaine Browers explained that revenue is expected to be “back half loaded,” with key armor and sensor contracts set for later-year shipment. Jack (on behalf of Sheila Kahyaoglu, Jeffries): Sought updates on the plutonium down-blending business and DOE budget headwinds. Williams noted no change in near-term outlook but emphasized a long-term requirement for nuclear cleanup, supporting future demand. Mark Eric Smith (Lake Street Capital): Asked about financial expectations for Alien Gear. Browers said recent performance isn’t indicative due to bankruptcy, but the business offers opportunities for both operational improvements and synergies with Safariland. In the coming quarters, the StockStory team will monitor (1) the pace of integration and performance improvements in TIER Tactical and Alien Gear Holsters, (2) the conversion rate of Cadre’s record orders backlog into revenue—particularly in armor, duty gear, and nuclear segments, and (3) updates on government defense and nuclear budgets, which could impact demand for core products. Evolving trends in public safety funding and further M&A activity will also be important indicators of execution. Cadre currently trades at $29.79, down from $31.36 just before the earnings. At this price, is it a buy or sell? The answer lies in our full research report (it’s free for active Edge members). ALSO WORTH WATCHING: Top 5 Momentum Stocks. The best time to own a great stock is when the market is finally noticing it. These aren't just high-quality businesses. Something is happening with them right now. Elite fundamentals meeting near-term momentum - both boxes checked at the same time. Find out which stocks our AI platform is flagging this week. See this week's Strong Momentum stocks - FREE. Get Our Strong Momentum Stocks for Free HERE. Stocks that have made our list include now familiar names such as Nvidia (+1,326% between June 2020 and June 2025) as well as under-the-radar businesses like the once-micro-cap company Tecnoglass (+1,754% five-year return). Find your next big winner with StockStory today.

Interested in Cadre Holdings, Inc.? Here are five stocks we like better. Cadre posted first-quarter 2026 net sales of $155.4 million, up 19% year over year, and reaffirmed its full-year guidance for $736 million to $758 million in revenue and $136 million to $141 million in Adjusted EBITDA. The company ended the quarter with a record $355 million backlog, driven by organic growth and the TYR Tactical acquisition, including a major Blast Attenuation Seat contract that supports confidence in 2026 and beyond. Management said acquisitions remain central to Cadre’s strategy, highlighting TYR Tactical’s strong performance and the recent Alien Gear Holsters deal, while also noting durable demand in public safety and nuclear safety markets. Cadre (NYSE:CDRE) reported a 19% year-over-year increase in first-quarter 2026 net sales and reaffirmed its full-year outlook, with management pointing to record backlog, recent acquisitions and sustained demand across public safety and nuclear safety markets. Chairman and CEO Warren Kanders said Cadre entered 2026 with “greater scale and an expanded set of growth opportunities” and delivered “another quarter of financial and operational progress.” The company reported first-quarter net sales of $155.4 million, up 19% from the prior-year period. → Beyond NVIDIA: Picks-and-Shovels AI Plays with Strong Momentum Kanders said demand remained strong and recurring across Cadre’s law enforcement, first responder, military and nuclear categories. He also said the company is “on pace for record net sales and Adjusted EBITDA in 2026,” based on the midpoint of its reaffirmed guidance ranges. Cadre ended the quarter with a record orders backlog of $355 million, up $166 million from the prior quarter. President Brad Williams said the increase included $108 million of organic backlog growth and $57 million from the acquisition of TYR Tactical. → MercadoLibre Boldly Invests in Growth: Discount Deepens The largest contributor to organic backlog growth was an $87 million increase tied to the Blast Attenuation Seat contract announced in March. Williams described the seven-year contract with General Dynamics European Land Systems as “a key milestone” and evidence of increased European defense spending. Another $22 million of organic backlog growth came primarily from demand for duty gear and armor products. Williams said the company still has larger opportunities in play across armor, duty gear, explosive ordnance disposal and crowd control. He said the backlog increase is an “important forward indicator” and supports management’s confidence in the full-year outlook. → 3 Small-Cap Stocks to Buy as the Russell 2000 Extends Its Rally In response to an analyst question, Williams said the Blast Attenuation Seat contract could generate small shipments this year, but most of that revenue is expected to move into 2027. He said shorter-cycle categories such as armor, duty gear, crowd control and chemiluminescence are expected to ship in the current year, and the previously announced $10 million Blast Sensor contract is expected to ship completely in 2026. Management emphasized that mergers and acquisitions remain a key part of Cadre’s strategy. Since its initial public offering, the company has completed seven acquisitions, including TYR Tactical in January and Alien Gear Holsters in April. Kanders described TYR as a $175 million strategic platform acquisition and Alien Gear as a $10 million bolt-on. Chief Financial Officer Blaine Browers said Cadre has deployed more than $400 million toward targeted M&A since the start of 2024. He said the company continues to focus on businesses with strong margins, defensible market positions and recurring revenues and cash flows. Alien Gear Holsters was acquired for $10.3 million through a court-supervised bankruptcy auction. Browers said the company is a recognized holster brand with a single-site operation in Idaho and integrated injection molding capabilities. Williams said Alien Gear produced about $20 million in revenue last year and EBITDA “a little north of 10%,” though he cautioned that the bankruptcy process makes historical results less indicative of the current year. Alien Gear is not included in Cadre’s guidance, he said, because the transaction closed only a few weeks before the call. On TYR Tactical, Williams said the acquisition is “meeting and exceeding expectations” and that Cadre has begun work on projects involving TYR, Safariland and Med-Eng, including new products and go-to-market strategies. Cadre reaffirmed its 2026 outlook for net sales of $736 million to $758 million and Adjusted EBITDA of $136 million to $141 million. Browers said the guidance implies an Adjusted EBITDA margin of 18.5% and year-over-year growth of 22.4% in revenue and 24% in Adjusted EBITDA at the midpoints. The company continues to expect full-year organic revenue growth of 3% to 5%. Browers said second-quarter revenue is expected to be around $178 million, with Adjusted EBITDA margins around 17.5%. He said the back half of the year is expected to account for about 55% of full-year revenue. Browers said the expected sequential increase from the first quarter to the second quarter reflects a full quarter of TYR, as well as improvements in distribution, EOD and armor. He said margins should improve through the year due to mix and leverage on higher revenue. Cadre’s net leverage was just under 3 times as of March 31, or less than 2.5 times after factoring in a full year of TYR earnings. Browers said free cash flow, excluding acquisitions, would be used primarily for debt reduction while maintaining the dividend. Williams noted that Cadre’s May dividend payment will mark its 17th consecutive dividend since the IPO. Management said Cadre continues to see durable demand in public safety and nuclear safety markets, supported by replacement cycles, geopolitical tension and defense spending. Williams said the company stands to benefit from the current U.S. administration’s commitment to public safety and investment in federal agencies. However, Williams said Cadre is monitoring signs of softness in its company-owned distribution segment, particularly for discretionary third-party items. He said this is the first such softness since the COVID period and the “Defund the Police” movement. Still, he said the company has not seen weakness in Cadre-made products, which management attributes to their mission-critical nature. In Cadre’s consumer channel, Williams said the Safariland brand and new product introductions are driving share gains despite a challenging consumer environment. He said the channel was up 6.7% year-over-year in the first quarter. In nuclear, Williams said the Department of Energy’s 2027 budget submitted to Congress was up 10% overall, while non-NNSA funding was down 11%. He said the budget reflects a shift toward defense-related applications, potentially supporting demand for Cadre’s critical alarm systems, ventilation, containment, robotic arms and container businesses. Asked about plutonium down blending, Williams said there had been no change since Cadre’s prior earnings update. He said the company continues to see a long-term need tied to the DOE’s obligations to remove surplus plutonium, though there is currently “a bit of a lull” in demand for that specific product and application. Williams closed the call by saying Cadre remains focused on executing its strategy and building on its market positions. “Our outlook for 2026 reflects confidence in the durability of our business, the resilience of our end markets, and the effectiveness of the Cadre Operating Model,” he said. Cadre (NYSE:CDRE) is a technology‐driven real estate investment platform that offers accredited and institutional investors direct access to institutional‐grade commercial properties. Established in 2014, Cadre leverages a data-centric approach to identify, underwrite and manage investments in multifamily, office, retail and industrial assets across major U.S. markets. The firm's platform is designed to streamline the investment process, from deal sourcing and due diligence to ongoing asset management and reporting. Through its online marketplace, Cadre provides a curated selection of equity and preferred equity offerings, allowing investors to participate in individual properties or diversify across a managed portfolio. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Cadre Q1 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for May 2026.