Cadre Holdings (NYSE: CDRE) is a safety equipment company that designs, manufactures, and sells protective gear for first responders and government end markets. Revenue is generated through product sales spanning duty gear, body armor, explosive ordnance disposal (EOD) equipment, and nuclear safety products, primarily under fixed-price contracts with government and municipal customers. Net sales increased $42.7 million for the year ended December 31, 2025 compared to the year ended December 31, 2024, driven by acquisitions and higher demand for duty gear products, partially offset by declines in EOD and nuclear safety product sales. The company operates under its Safariland subsidiary structure and has completed 18 acquisitions to date, using a targeted M&A program to expand product offerings and geographic reach. CEO Warren B. Kanders also serves as Executive Chairman of Clarus Corporation. The company carries interest rate swap agreements with notional amounts totaling over $300 million as of December 31, 2025, indicating a debt-funded capital structure.

Revenue model

Transactional product sales, primarily under fixed-price government contracts for a specified term or quantity of end items. Revenue is generated across duty gear, EOD equipment, and nuclear safety products sold to law enforcement, military, and government customers.

Products and services

Duty gear, body armor, explosive ordnance disposal (EOD) equipment, and nuclear safety products. Sold under the Safariland brand and related subsidiaries. Products are manufactured and marketed to first responders and government agencies.

Customers and end markets

First responders, law enforcement agencies, military, and municipal governments. Contracts include direct government fixed-price arrangements subject to budget appropriation clauses. International expansion targets foreign demand for first responder safety equipment.

Value-chain role

Manufacturer and distributor of safety and protective equipment. Handles product development, manufacturing, order fulfillment, and direct sales to government and institutional customers. Supplements organic development with acquisitions.

Geographic exposure

Primarily domestic U.S. market, with stated intent to expand internationally. International operations include Med-Eng Holdings ULC and Pacific Safety Products Inc. in Canada. Subject to FCPA compliance obligations indicating some international commercial activity.

Source: SEC 10-K, filed 2026-03-10

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