Distribution Solutions Group Inc. reported consolidated results for the third quarter ended September 30, 2025. Revenue for the quarter was $518.0 million, representing an increase of 10.7% compared to $468.0 million in the same period in 2024. Compared to the previous quarter ended June 30, 2025, revenue increased by 3.1% from $502.4 million. Adjusted EBITDA for the quarter was $48.5 million, or 9.4% of sales, compared to $49.1 million, or 10.5% of sales, in the prior year quarter. The inclusion of the 2024 Source Atlantic acquisition reduced Adjusted EBITDA as a percentage of sales by approximately 0.1 percentage points over the year-ago quarter. Cash flow from operations for the quarter was $38.4 million. Net capital expenditures totaled $7.7 million. The company ended the quarter with total liquidity of $335.4 million, including $82.7 million in cash and $252.7 million available under its credit facility, with no outstanding borrowings on its revolver. Net debt leverage was 3.5 times. Net working capital at the end of the quarter was $485.7 million.