Cadre Holdings, Inc.
cadre-holdings.comWhat Do They Do?
Manufactures and distributes body armor, explosive ordnance disposal equipment and nuclear safety products for law enforcement and other first responders, military customers and the nuclear industry.
10-K for FY2025, filed Mar 10, 2026We are a global leader in the manufacturing and distribution of safety equipment and other related products for the law enforcement, first…View ↗
Domestically, we are a top provider of safety holsters and soft body armor for first responders, as well as a top provider of nuclear…View ↗
Nuclear Safety. Founded in 1986, Alpha Safety is a global provider of highly engineered technical products and services spanning the…View ↗
How Do They Make Money?
Customers mainly pay for physical products on delivery or short-term credit after shipment; for some longer contracts, Cadre bills at milestones and collects on short-term credit.
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10-K for FY2025, filed Mar 10, 2026
FY2025 revenue by reportable segment ↗
$610.3M
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10-K for FY2025, filed Mar 10, 2026
$610.3M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Product
Sold outright
10-K for FY2025, filed Mar 10, 2026 |
89%
FY2022: 84%
|
Product, FY2025
$543.7M Sources
|
Sold outright |
|
Distribution
Sold outright
10-K for FY2025, filed Mar 10, 2026 |
17%
FY2022: 21%
|
Distribution, FY2025
$104.9M Sources
|
Sold outright |
Who Are Their Customers?
Public agencies, international government buyers and commercial customers buy through distributors, retailers and e-commerce platforms; Cadre also sells directly to agencies and end users.
10-K for FY2025, filed Mar 10, 2026We sell our products through distributors and work directly with agencies to effectively reach end users. We classify our customers into…View ↗
International. Over the past three years, we have sold products to more than 100 countries globally. We service foreign defense ministries…View ↗
Commercial. Our Commercial channel consists primarily of sales through largely recognized e-commerce companies and retailers as well as…View ↗
We service each of our channels through in-field technical salespeople and an owned distribution network. Our traditional distribution…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 7 cents of every revenue dollar as net income in FY2025 and turned 9 cents into free cash flow.
10-K for FY2025, filed Mar 10, 2026
$67.4MView ↗
10-K for FY2025, filed Mar 10, 2026
$44.1MView ↗
10-K for FY2025, filed Mar 10, 2026
$56.8MView ↗
How Are They Changing?
10-Q for Q2 FY2026, filed Aug 5, 2026
Open tableView ↗
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Aug 5, 2026
Raises full-year sales and adjusted EBITDA guidance
Now expects 2026 net sales of $749 million to $769 million and adjusted EBITDA of $139 million to $144 million.
Sources
8-K, filed Aug 5, 2026
Raises Guidance to Full Year 2026 Net Sales of $749 to $769 Million and Adjusted EBITDA of $139 to $144 MillionView ↗
Growing. Revenue grew 43% in 4 years, from $427.3M in FY2021 to $610.3M in FY2025, about 9% a year.
Nuclear-market expansion
The business has broadened from first-responder protective gear to also include nuclear safety products and engineered equipment and services for nuclear markets.
10-K for FY2022, filed Mar 15, 2023 10-K for FY2025, filed Mar 10, 2026For over 55 years, we have been a global leader in the manufacturing and distribution of safety and survivability equipment for first…View ↗
Who Do They Compete With?
Competes with Point Blank Enterprises, Avon Protection Systems, Central Lake Armor Express, Alien Gear Holsters, and Blackhawk
10-K for FY2025, filed Mar 10, 2026Our primary competitors include, but are not limited to, Point Blank Enterprises, Inc., Avon Protection Systems, Inc., Central Lake Armor…View ↗
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