-- Revenue increased 14% vs. prior year with strong performance across all
end markets
-- Net Income of $32.9 million reflecting robust topline, cost optimization
and manufacturing leverage
-- Adjusted EBITDA increased 16% vs. prior year from high demand and
operational execution
-- Advanced innovation leadership with launch of industry's largest stack
tumbler and new payment technology solution for the Vended market
-- Strengthened balance sheet with repayment of debt with IPO proceeds in
October 2025
RIPON, Wis., Nov. 13, 2025 /PRNewswire/ -- Alliance Laundry Systems $(ALH)$ ("Alliance" or the "Company"), the global leader in commercial laundry equipment, announced results today for its third quarter ended September 30, 2025.
"Alliance delivered strong performance in our first reported quarter as a public company with double-digit growth on both the top and bottom line, and disciplined execution on our strategic initiatives," said Michael Schoeb, CEO of Alliance Laundry. "Using proceeds from our successful IPO in October, we meaningfully reduced leverage while investing in our key long-term growth opportunities. Our balanced capital allocation strategy and relentless focus on quality and reliability enhance our position as the leading, pure-play commercial laundry systems manufacturer."
THIRD QUARTER 2025 CONSOLIDATED RESULTS
Net revenues were $437.6 million, an increase of 14% compared to $384.3 million in the prior year quarter. The increase was driven by both strong volume performance and low to mid-single digit price increases. The strong performance across both North America and International reportable segments was due to continued robust demand across the Vended, On-Premise Laundry (OPL), and Commercial-In-Home (CIH) end markets. The high demand reflects the attractive total cost of ownership offering Alliance provides that addresses continued customer needs for durable and reliable commercial laundry solutions.
Net income was $32.9 million, an increase of 620% compared to net loss of $(6.3) million in the prior year quarter. Net income improvement in the quarter was driven by strong operating performance, lower interest expense, and refinancing expenses in the prior year quarter. Adjusted net income was $48.4 million, a 47% increase versus the prior year period. Net income margin expanded year-over-year to 8%, an increase of 920 basis points.
Adjusted EBITDA was $110.8 million, an increase of 16% compared to $95.9 million in the prior year quarter. The increase reflects strong revenue growth, disciplined operating expense management and continued strategic investments in product innovation, and commercial and corporate functions to support long-term growth and public company infrastructure. Adjusted EBITDA margin expanded year-over-year to 25%, an increase of 40 basis points.
THIRD QUARTER 2025 RESULTS BY REPORTABLE SEGMENT
North America revenue was $330.7 million, an increase of 14%, compared to $289.2 million in the prior year quarter with strong double digit growth across all three end markets, driven by a combination of mid-single digit price increases, and low double digit increases in volume.
North America Adjusted EBITDA was $95.4 million, an increase of 13%, compared to $84.2 million for the prior year quarter. Performance was driven by gross margin expansion including manufacturing efficiencies, offset by strategic investments to support future value creation initiatives. Tariff impact in the quarter was $3.5 million and was largely offset by price increases.
International revenue was $106.9 million, an increase of 12%, compared to $95.1 million for the prior year quarter. Growth was balanced across mature and developing markets, with approximately one-third of the increase attributable to each of volume, price, and favorable foreign exchange.
International Adjusted EBITDA was $25.7 million, an increase of 9%, compared to $23.4 million for the prior year quarter with strong topline performance partially offset by customer and product mix. The Company's local-for-local manufacturing strategy resulted in limited tariff exposure in the quarter.
THIRD QUARTER 2025 BUSINESS HIGHLIGHTS
-- Strengthened capital structure with repricing of Term Loan B facility
resulting in a 25 basis point interest rate reduction, and a voluntary
$135.0 million debt paydown, positioning the Company for future interest
savings.
-- Showcased leading innovation at Clean Show 2025 with product and
technology launches including:
-- Industry's largest stack tumbler: 55-pound stack tumbler that
provides greater drying capacity and laundromat owners another
tool to drive greater revenue.
-- Scan-Pay-Wash: industry's first cashless payment technology
solution that does not require an app download.
-- Acquired Metropolitan Laundry Machinery Sales, a proven laundry equipment
distributor serving customers across the greater New York area, expanding
Alliance's direct presence in the attractive Northeast market.
-- Launched Stax-X stacked washer dryer, the first product fully developed
at Alliance's engineering facility in Thailand. Aligned with Alliance's
local-for-local manufacturing strategy, Stax-X is designed for regional
markets with its combined washer-extractor and tumble dryer that saves
floor space and provides commercial-grade performance.
POST-QUARTER HIGHLIGHTS
-- Completed successful IPO on October 9, 2025, following which Alliance
used net proceeds from the IPO and cash on-hand to repay $525.0 million
of debt to deliver a 3.1x IPO adjusted net leverage ratio1. The Term Loan
repricing combined with the repayment delivers an approximate
$46.0 million annualized interest savings at current debt levels.
-- Received a one notch credit rating upgrade from S&P Global to B+
(positive) and an outlook upgrade from Moody's Ratings to B2 (positive).
(1) IPO adjusted net leverage ratio reflects September 30, 2025 Net debt to Adjusted EBITDA, adjusted for the debt repayment of $505.7 million related to IPO proceeds.
CONFERENCE CALL INFORMATION
Alliance will host a conference call to discuss this quarter's results at 8:00 am Eastern Time today, November 13, 2025.
To listen to the conference call, a live audio webcast will be available on the Alliance's Investor Relations website at https://ir.alliancelaundry.com/news-events/ir-calendar. A replay of the webcast will be available after the call.
To participate in the conference call, analysts and investors can dial 1 (800) 267-6316 and international participants can dial 1 (203) 518-9783. The Conference ID is ALH3Q25. Participants should dial in at least 10 minutes prior to the call.
ABOUT ALLIANCE LAUNDRY
Alliance Laundry makes the world cleaner as a provider of the highest quality commercial laundry systems. Our laundry solutions are available under five respected brands, sold and supported by a global network of select distributors. We serve approximately 150 countries with a team of more than 4,000 employees. Our brands include Speed Queen$(R)$, UniMac(R), Huebsch(R), Primus(R) and IPSO(R). Together, they present a full line of commercial washing machines, dryers, and ironers (with load capacities from 20--400 lb. or 9--180 kg.) and support service. You can also enjoy the superior wash and fabric care of commercial-grade laundry equipment in your home through our legendary Speed Queen(R) washers and dryers.
For more information, visit www.alliancelaundry.com.
NON-GAAP FINANCIAL MEASURES
We regularly review non-GAAP measures to evaluate our business, measure our performance and manage our operations, including identifying trends affecting our business, formulating business plans and making strategic decisions. We believe that non-GAAP measures provide an additional way of viewing aspects of our operations that, when viewed together with our GAAP results, provide a more complete understanding of our results of operations and the factors and trends affecting our business. These non-GAAP financial measures are also used by our management to evaluate financial results and to plan and forecast future periods. Non-GAAP financial measures should be considered a supplement to, and not a substitute for, or superior to, the corresponding measures calculated in accordance with GAAP. Non-GAAP financial measures used by us may differ from the non-GAAP measures used by other companies, including our competitors.
"Adjusted EBITDA" represents Net income before provision for income taxes, interest expense, depreciation and amortization. Adjusted EBITDA is also adjusted for the discrete items that management excluded in analyzing the segments' operating performance, such as refinancing and debt related costs, share-based compensation, strategic transaction costs, foreign exchange on intercompany loans and other non-recurring items which management believes are not indicative of the Company's ongoing operating performance. "Adjusted EBITDA Margin" represents Adjusted EBITDA divided by Net revenues. Management utilizes Adjusted EBITDA and Adjusted EBITDA Margin as measures of operating performance. Management believes Adjusted EBITDA is a useful measure to help readers of our financial statements evaluate our operating performance and facilitates more meaningful comparisons with industry peers. Our calculation of non-GAAP measures may differ from similarly titled measures used by other companies, and therefore may not be directly comparable. In evaluating these metrics, investors should be aware that in the future we may incur expenses similar to those eliminated in this presentation.
"Adjusted net income" represents Net income adjusted to exclude certain expenses not representative of our ongoing operations and other charges. These adjustments include, but are not limited to, refinancing and debt related costs, share-based compensation, strategic transaction costs, foreign exchange on intercompany loans and other non-recurring items.
"Adjusted net income per share attributable to common stockholders -- diluted" represents Adjusted net income divided by the weighted average number of diluted shares outstanding for the relevant period.
"Net debt" represents our total debt less Cash and cash equivalents.
"Net Debt to Adjusted EBITDA" represents total debt less Cash and cash equivalents divided by Adjusted EBITDA for the relevant period.
"IPO adjusted net leverage" represents Net debt divided by Adjusted EBITDA giving effect to the repayment of debt with our IPO proceeds as if it had occurred at the ending of the relevant period.
SEGMENT INFORMATION
Our business is organized into two reportable segments, North America and International. The Company uses Segment net revenues, Segment Adjusted EBITDA and Segment Adjusted EBITDA Margin as its measures of performance. The Company allocates certain costs including manufacturing variances, customer support expenses and selling and general expenses which are incurred in our global operations to the reportable segments in determining Segment Adjusted EBITDA.
We define "Segment Adjusted EBITDA" as, on a segment basis, net income excluding interest income/expense, income taxes, depreciation and amortization. Segment Adjusted EBITDA is also adjusted for the discrete items that management excluded in analyzing the segments' operating performance, such as refinancing and debt related costs, share-based compensation, strategic transaction costs, foreign exchange on intercompany loans and other non-recurring items which management believes are not indicative of the Company's ongoing operating performance. Segment Adjusted EBITDA is a measure of operating performance of our reportable segments and may not be comparable to similar measures reported by other companies.
FORWARD-LOOKING STATEMENTS
This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. In some cases, you can identify these forward-looking statements by the use of terms such as "expect," "will," "continue," or similar expressions, and variations or negatives of these words, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements represent our management's beliefs and assumptions only as of the date of this press release. You should read this press release with the understanding that our actual future results may be materially different from what we expect. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, which include but are not limited to: expectations relating to revenues and other financial or business metrics; statements regarding relationships with clients and business momentum; and any other statements of expectation or belief. These statements are subject to known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from results expressed or implied in this press release. Such risk factors include, but are not limited to, those related to: the high degree of competition in the markets in which we operate; our reliance on the performance of distributors, route operators, suppliers, retailers and servicers; our ability to achieve and maintain a high level of product and service quality; fluctuations in the cost and availability of raw materials; our exposure to international markets, particularly emerging markets; our exposure to costs and difficulties of acquiring and integrating complementary businesses and technologies; and our exposure to worldwide economic conditions and potential global economic downturns.
Additional information concerning these and other risks and uncertainties are contained in the section entitled "Risk Factors" in the final prospectus filed October 9, 2025, which forms part of the Registration Statement on Form S-1 declared effective as of September 30, 2025. Additional information will be made available in our quarterly reports on Form 10-Q, and other filings and reports that we may file from time to time with the SEC. Except as required by law, we assume no obligation, and do not intend to, to update these forward-looking statements, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
ALLIANCE LAUNDRY SYSTEMS CONTACTS:
Investor Contact:
Bob Calver
Vice President, Investor Relations
ir@alliancels.com
Media Contact:
Randy Radtke
Senior Manager of Content and Creative Services
randy.radtke@alliancels.com
ALLIANCE LAUNDRY HOLDINGS INC.
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(unaudited)
(in thousands, except per share amounts)
Three Months Ended Nine Months Ended
September 30, September 30,
------------------------------------------ ------------------------------------------
2025 2024 2025 2024
-------------------- -------------------- -------------------- --------------------
Net revenues:
Equipment, service
parts and other $ 424,993 $ 371,980 $ 1,237,465 $ 1,076,640
Equipment financing 12,613 12,315 36,898 36,664
-------------------- -------------------- -------------------- --------------------
Net revenues 437,606 384,295 1,274,363 1,113,304
Costs and expenses:
Cost of sales 265,844 230,098 764,100 669,973
Cost of sales -
related parties 1,950 1,649 5,032 4,644
Equipment financing
expenses 7,859 9,587 24,068 25,997
-------------------- -------------------- -------------------- --------------------
Gross profit 161,953 142,961 481,163 412,690
-------------------- -------------------- -------------------- --------------------
Selling, general,
and administrative
expenses 76,386 70,942 227,113 195,766
Selling, general,
and administrative
expenses -
related
parties 75 75 225 225
Total operating
expenses 76,461 71,017 227,338 195,991
-------------------- -------------------- -------------------- --------------------
Operating income 85,492 71,944 253,825 216,699
Interest expense,
net 36,952 42,339 121,240 100,770
Other expenses, net 5,606 37,340 26,514 37,110
Income/(loss)
before taxes 42,934 (7,735) 106,071 78,819
Provision/(benefit)
for income taxes 10,038 (1,413) 24,912 17,564
-------------------- -------------------- -------------------- --------------------
Net income/(loss) $ 32,896 $ (6,322) $ 81,159 $ 61,255
==================== ==================== ==================== ====================
Comprehensive
income:
Net income/(loss) $ 32,896 $ (6,322) $ 81,159 $ 61,255
Foreign currency
translation
adjustment 5,969 21,017 59,155 1,768
Comprehensive
income $ 38,865 $ 14,695 $ 140,314 $ 63,023
==================== ==================== ==================== ====================
Net income/(loss)
Basic $ 0.19 $ (0.04) $ 0.47 $ 0.36
Diluted $ 0.19 $ (0.04) $ 0.46 $ 0.35
Weighted average
number of common
shares
outstanding
Basic 171,423 171,054 171,554 170,722
Diluted 174,950 171,054 175,458 173,116
ALLIANCE LAUNDRY HOLDINGS INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(unaudited)
(in thousands, except share and per share amounts)
September 30, 2025 December 31, 2024
---------------------------- ----------------------------
Assets
Current assets:
Cash and cash equivalents $ 136,168 $ 154,682
Restricted cash 3,601 6,401
Restricted cash - for
securitization investors 20,052 26,959
Accounts receivable, net 106,725 92,150
Inventories, net 154,861 133,494
Inventories, net - related
parties 823 989
Accounts receivable, net -
restricted for securitization
investors 164,197 130,060
Equipment financing
receivables, net 3,613 4,600
Equipment financing
receivables, net - restricted
for securitization investors 88,000 88,288
Prepaid expenses and other
current assets 36,975 30,534
---------------------------- ----------------------------
Total current assets 715,015 668,157
Equipment financing
receivables, net 6,468 7,633
Property, plant, and equipment,
net 250,559 248,341
Operating lease right-of-use
assets 20,273 17,080
Equipment financing
receivables, net - restricted
for securitization investors 449,130 417,672
Deferred income tax asset, net 3,486 3,220
Debt issuance costs, net 3,663 2,793
Goodwill 687,714 666,580
Intangible assets, net 765,014 793,666
Other long-term assets 2,830 6,963
---------------------------- ----------------------------
Total assets $ 2,904,152 $ 2,832,105
============================ ============================
Liabilities and Stockholders'
Deficit
Current liabilities:
Current portion of long-term
debt $ 20,862 $ 20,896
Accounts payable 151,171 141,808
Accounts payable - related
parties 1,708 1,338
Asset backed borrowings - owed
to securitization investors 196,990 170,862
Current operating lease
liabilities 5,859 5,502
Other current liabilities 131,782 138,259
---------------------------- ----------------------------
Total current liabilities 508,372 478,665
Long-term debt, net 1,903,836 2,034,545
Asset backed borrowings - owed
to securitization investors 404,007 382,910
Deferred income tax liability 169,602 171,103
Long-term operating lease
liabilities 15,289 12,549
Other long-term liabilities 39,468 29,661
---------------------------- ----------------------------
Total liabilities 3,040,574 3,109,433
Commitments and contingencies
(See Note 17)
Stockholders' deficit:
Redeemable preferred stock,
$0.01 par value, 100,000,000
shares authorized, no shares
issued or outstanding -- --
Common stock, $0.01 par value,
2,000,000,000 shares
authorized, 172,802,531 and
189,609,192 issued,
respectively, and 172,802,531
and 125,290,718, outstanding,
respectively 1,728 1,896
Additional paid-in capital -- 189,911
(Accumulated deficit)/retained
earnings (195,553) 31,527
Treasury stock, at cost, 0 and
64,318,474 shares,
respectively -- (498,910)
Accumulated other comprehensive
income/(loss) 57,403 (1,752)
---------------------------- ----------------------------
Total stockholders' deficit (136,422) (277,328)
---------------------------- ----------------------------
Total liabilities and
stockholders' deficit $ 2,904,152 $ 2,832,105
============================ ============================
ALLIANCE LAUNDRY HOLDINGS INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited)
Nine Months Ended September 30,
------------------------------------------------------------
(in thousands) 2025 2024
----------------------------- -----------------------------
Cash flows from
operating
activities:
Net income $ 81,159 $ 61,255
Adjustments to
reconcile Net
income to net cash
provided by
operating
activities:
Depreciation and
amortization 69,344 67,496
Amortization and
extinguishment of
debt issuance
costs 2,498 5,045
Amortization of
original issue
discount 2,858 2,227
Non-cash interest
expense 9,761 11,214
Non-cash
(gain)/loss on
commodity &
foreign exchange
contracts, net (9) 394
Non-cash foreign
exchange loss,
net 23,035 4,143
Non-cash
stock-based
compensation 2,562 2,585
Loss on sale of
property, plant,
and equipment 656 360
Provision for
credit losses 2,917 3,393
Deferred income
taxes (4,144) (15,902)
Changes in assets
and liabilities,
net of the
effects of
acquisitions:
Accounts and
equipment
financing
receivables,
net (3,807) 4,761
Accounts
receivable -
restricted for
securitization
investors (34,391) (8,474)
Inventories, net (15,069) (16,279)
Inventories, net
- related
party 166 75
Equipment
financing
receivables,
net -
restricted for
securitization
investors (21,783) (26,968)
Other assets (3,153) (2,470)
Accounts payable 9,677 6,076
Accounts payable
- related
parties 370 (116)
Other
liabilities (5,857) (31,484)
----------------------------- -----------------------------
Net cash provided by
operating
activities 116,790 67,331
----------------------------- -----------------------------
Cash flows from
investing
activities:
Capital expenditures (29,789) (23,624)
Acquisition of
businesses, net of
cash acquired (13,614) (22,181)
Proceeds on
disposition of
assets 343 106
Originations of
equipment financing
receivables, net -
restricted for
securitization
investors (66,924) (63,942)
Collections of
equipment financing
receivables, net -
restricted for
securitization
investors 55,674 54,036
----------------------------- -----------------------------
Net cash used in
investing
activities (54,310) (55,605)
----------------------------- -----------------------------
Cash flows from
financing
activities:
Payments on
revolving line of
credit borrowings -- (5,605)
Proceeds from
long-term
borrowings -- 2,064,625
Payments on
long-term
borrowings (135,000) (1,268,000)
Cash paid for debt
establishment and
amendment fees (1,877) (2,307)
Increase in asset
backed borrowings
owed to
securitization
investors 164,311 154,006
Decrease in asset
backed borrowings
owed to
securitization
investors (117,086) (111,112)
Dividends paid -- (265,940)
Return of capital
paid -- (634,060)
Repurchase of common
stock (6,205) (99)
Taxes paid related
to net share
settlement of stock
options (1,937) (1,105)
Net proceeds from
stock options
exercised 5,672 82
Proceeds from
common stock
issuance under
employee purchase
plan 500 --
----------------------------- -----------------------------
Net cash used in
financing
activities (91,622) (69,515)
----------------------------- -----------------------------
Effect of exchange
rate changes on
cash, cash
equivalents, and
restricted cash 921 (2,232)
(Decrease)/increase
in cash, cash
equivalents, and
restricted cash (28,221) (60,021)
Cash, cash
equivalents, and
restricted cash at
beginning of period 188,042 209,969
----------------------------- -----------------------------
Cash, cash
equivalents, and
restricted cash at
end of period $ 159,821 $ 149,948
============================= =============================
Reconciliation of
cash, cash
equivalents, and
restricted cash to
the Condensed
Consolidated Balance
Sheets:
Cash and cash
equivalents $ 136,168 $ 128,356
Restricted cash 3,601 5,227
Restricted cash -
for securitization
investors 20,052 16,365
----------------------------- -----------------------------
Total cash, cash
equivalents, and
restricted cash
shown in the
Statement of Cash
Flows $ 159,821 $ 149,948
============================= =============================
Supplemental
disclosure of cash
flow information:
Cash paid for
interest $ 107,974 $ 108,020
Cash paid for
interest - to
securitized
investors $ 23,706 $ 25,871
Cash paid for income
taxes $ 38,872 $ 46,765
Supplemental
disclosure of
investing and
financing non-cash
activities:
Capital expenditures
included in
accounts payable $ 2,662 $ 2,065
ALLIANCE LAUNDRY HOLDINGS INC.
SEGMENT SUMMARY
The following table presents revenue by segment, Segment Adjusted EBITDA and Segment Adjusted EBITDA Margin:
(Unaudited)
---------------------------------------------------------------------------------------------
Three Months Ended September 30, Nine Months Ended September 30,
(in thousands) 2025 2024 2025 2024
------------------------ ------------------------ ------------------ ---------------------
North America
Segment net
revenues $ 330,742 $ 289,242 $ 952,156 $ 819,078
Segment
adjusted
EBITDA $ 95,449 $ 84,233 $ 273,027 $ 240,530
Segment
adjusted
EBITDA
margin 28.9 % 29.1 % 28.7 % 29.4 %
International
Segment net
revenues $ 106,864 $ 95,053 $ 322,207 $ 294,226
Segment
adjusted
EBITDA $ 25,650 $ 23,447 $ 91,344 $ 79,768
Segment
adjusted
EBITDA
margin 24.0 % 24.7 % 28.3 % 27.1 %
ALLIANCE LAUNDRY HOLDINGS INC.
RECONCILIATION SCHEDULES
Selected financial information for each segment is as follows:
(Unaudited)
--------------------------------------------------------------------------------------------------------
Three Months Ended September 30, 2025 Three Months Ended September 30, 2024
-------------------------------------------------- ----------------------------------------------------
(in thousands) North America International Total North America International Total
------------------ ----------------- ----------- ------------------ ------------------ ------------
Net revenues $ 330,742 $ 106,864 $ 437,606 $ 289,242 $ 95,053 $ 384,295
Cost of sales(1) 204,781 69,896 180,099 60,607
Other segment
items(2) 30,512 11,318 24,910 10,999
Segment Adjusted
EBITDA $ 95,449 $ 25,650 $ 121,099 $ 84,233 $ 23,447 $ 107,680
Reconciling
items:
Interest
expense, net (36,952) (42,339)
Depreciation and
amortization (23,386) (22,587)
Refinancing and
debt related
costs (2,425) (32,967)
Foreign exchange
gain/(loss) on
intercompany
loans, net (3,181) (4,373)
Shared-based
compensation (791) (809)
Strategic
transaction
costs (1,132) (515)
Corporate and
other (10,298) (11,825)
Income before
taxes $ 42,934 $ (7,735)
(Unaudited)
--------------------------------------------------------------------------------------------------------
Nine Months Ended September 30, 2025 Nine Months Ended September 30, 2024
-------------------------------------------------- ----------------------------------------------------
(in thousands) North America International Total North America International Total
------------------ ----------------- ----------- ------------------ ------------------ ------------
Net revenues $ 952,156 $ 322,207 $ 1,274,363 $ 819,078 $ 294,226 $ 1,113,304
Cost of sales(1) 592,236 198,317 514,024 184,967
Other segment
items(2) 86,893 32,546 64,524 29,491
Segment Adjusted
EBITDA $ 273,027 $ 91,344 $ 364,371 $ 240,530 $ 79,768 $ 320,298
Reconciling
items:
Interest
expense, net (121,240) (100,770)
Depreciation and
amortization (69,344) (67,496)
Refinancing and
debt related
costs (3,479) (32,967)
Foreign exchange
gain/(loss) on
intercompany
loans, net (23,035) (4,143)
Shared-based
compensation (2,562) (2,585)
Strategic
transaction
costs (4,176) (5,183)
Corporate and
other (34,464) (28,335)
Income before
taxes $ 106,071 $ 78,819
(1) Consists of Cost of sales, Cost of sales - related parties and Equipment
financing expenses.
(2) Other segment items for each reportable segment includes allocated
engineering, sales and marketing, information technology, and certain
other overhead expenses.
The following table presents a reconciliation of Net income/(loss) to the non-GAAP financial measure adjusted earnings before interest, taxes depreciation and amortization (Adjusted EBITDA) and Net income (loss) margin to Adjusted EBITDA margin:
(Unaudited)
----------------------------------------------------------------------------------------
Three Months Ended September 30, Nine Months Ended September 30,
(in thousands, except
percentages) 2025 2024 2025 2024
----------------------- ------------------------- ----------------- -----------------
Net income/(loss) $ 32,896 $ (6,322) $ 81,159 $ 61,255
Provision/(benefit)
for income
taxes 10,038 (1,413) 24,912 17,564
Interest expense,
net 36,952 42,339 121,240 100,770
Depreciation and
amortization 23,386 22,587 69,344 67,496
Refinancing and debt
related costs 2,425 32,967 3,479 32,967
Foreign exchange
gain on
intercompany
loans, net 3,181 4,373 23,035 4,143
Shared-based
compensation 791 809 2,562 2,585
Strategic
transaction costs 1,132 515 4,176 5,183
----------------------- ------------------------- ----------------- -----------------
Adjusted EBITDA $ 110,801 $ 95,855 $ 329,907 $ 291,963
======================= ========================= ================= =================
Net revenues $ 437,606 $ 384,295 $ 1,274,363 $ 1,113,304
Net income/(loss)
margin 7.5 % (1.6) % 6.4 % 5.5 %
Adjusted EBITDA
margin 25.3 % 24.9 % 25.9 % 26.2 %
The following table presents a reconciliation of Net income to Adjusted net income:
(Unaudited)
------------------------------------------------------------------------------------------------------------
Three Months Ended September 30, Nine Months Ended September 30,
(in thousands,
except per share
data) 2025 2024 2025 2024
------------------------ --------------------------- -------------------------- -------------------------
Net income/(loss) $ 32,896 $ (6,322) $ 81,159 $ 61,255
Amortization of
intangible
assets 12,626 12,515 38,061 37,584
Refinancing and
debt related
costs 2,425 32,967 3,479 32,967
Foreign exchange
gain on
intercompany
loans, net 3,181 4,373 23,035 4,143
Shared-based
compensation 791 809 2,562 2,585
Strategic
transaction
costs 1,132 515 4,176 5,183
Tax effect of
add backs (4,634) (11,848) (16,395) (19,090)
------------------------ --------------------------- -------------------------- -------------------------
Adjusted net
income $ 48,417 $ 33,009 $ 136,077 $ 124,627
======================== =========================== ========================== =========================
Net income/(loss)
per share
attributable
to common
stockholders
-
diluted: 0.19 (0.04) 0.46 0.35
Adjusted net
income per share
attributable
to common
stockholders -
diluted: 0.28 $ 0.19 $ 0.78 $ 0.72
The following table presents the calculation of last twelve months $(LTM)$ adjusted EBITDA for purposes of calculating Net debt and Net debt to Adjusted EBITDA:
(Unaudited)
---------------------------------------------------------------------------------
Three Months Nine Months LTM
Ended December Ended September September 30,
(in thousands) 31, 2024 30, 2025 2025
---------------------------- ---------------------------- ---------------------
Net Income $ 37,064 $ 81,159 $ 118,223
Provision/(benefit)
for income taxes 7,566 24,912 32,478
Interest expense,
net 31,231 121,240 152,471
Depreciation and
amortization 22,673 69,344 92,017
Refinancing and debt
related costs 250 3,479 3,729
Foreign exchange
gain on
intercompany loans,
net (8,797) 23,035 14,238
Shared-based
compensation 678 2,562 3,240
Strategic
transaction costs 620 4,176 4,796
---------------------------- ---------------------------- ---------------------
Adjusted EBITDA 91,285 329,907 421,192
============================ ============================ =====================
The following table presents a reconciliation of Debt to Net Debt and Net Debt to Adjusted EBITDA:
(Unaudited)
(in thousands) September 30, 2025 December 31, 2024
Term loan $ 1,940,000 $ 2,075,000
Finance lease
obligations 267 359
-------------------------------------- -------------------------------------
Debt 1,940,267 2,075,359
Less: Cash and
cash
equivalents (136,168) (154,682)
-------------------------------------- -------------------------------------
Net debt $ 1,804,099 $ 1,920,677
LTM adjusted
EBITDA $ 421,192 $ 383,248
Net debt to 4.3 5.0
adjusted x x
EBITDA
View original content:https://www.prnewswire.com/news-releases/alliance-reports-third-quarter-2025-results-302614423.html
SOURCE Alliance Laundry Systems
(END) Dow Jones Newswires
November 13, 2025 07:00 ET (12:00 GMT)