-- Full year net revenues of $1.7 billion, up 13% versus prior year
-- Full year net income of $102 million, up 3% versus prior year; with net
income margin of 6.0%
-- Full year Adjusted EBITDA of $436 million, up 14% versus prior year, with
record Adjusted EBITDA Margin of 25.5%
-- Q4 revenue of $435 million, up 10% versus prior year
-- Net Leverage reduced by 2.2x to 2.8x in a single year through operations
and IPO proceeds
-- Introduces 2026 annual guidance: revenue growth of +5 to 7%, Adjusted
EBITDA growth of +6 to 8%, continued margin expansion and deleveraging to
the low 2x range Net Leverage1
RIPON, Wis., March 12, 2026 /PRNewswire/ -- Alliance Laundry Systems $(ALH)$ ("Alliance" or the "Company"), the global leader in commercial laundry equipment, today announced results for its fourth quarter and full year ended December 31, 2025, and introduced its 2026 annual guidance.
"2025 was a landmark year for Alliance. Our full year and fourth quarter results demonstrated our ability to deliver very strong outcomes driven by our market leading position and commitment to operational excellence as we serve customers across this resilient, essential industry," said Michael Schoeb, CEO of Alliance Laundry. "We delivered our second consecutive year of double-digit growth on both the top and bottom line, significantly strengthened our balance sheet, and continued to invest in the innovation and market expansion that we believe will drive our next chapter of growth."
_________________ (1) Refer to the "2026 Full Year Guidance" and "Non-GAAP Financial Measures" sections below for additional information regarding forward-looking non-GAAP financial measures.
FULL YEAR 2025 CONSOLIDATED RESULTS
Net revenues increased 13% to $1.7 billion, compared to $1.5 billion in the prior year. The increase was driven by both strong volume performance and mid-single digit price increases. Growth was broad-based across both the North America and International reportable segments, with strong performance across the Vended, On-Premise Laundry, and Commercial-In-Home end markets. Full year net revenue growth was driven predominantly by volume, which contributed roughly 70% of the increase, with price realization accounting for the remainder, a mix that reflects the strength of underlying demand and the ongoing competitive differentiation of Alliance's total cost of ownership value proposition.
Gross profit increased 16% to $642 million, compared to $551 million in the prior year. Gross margin expanded 100 basis points to 37.6%, driven by cost-down initiatives, operational leverage, and disciplined pricing, with the Company's local-for-local manufacturing strategy providing structural tariff protection.
Net income increased 3% to $102 million, compared to $98 million in the prior year. Adjusted net income increased 11% to $185 million versus the prior year driven by higher earnings. Net income margin was 6.0% in the current year.
Adjusted EBITDA increased 14% to $436 million, compared to $383 million in the prior year, driven by volume gains, cost-down initiatives, and pricing actions that more than offset input cost increases. This improvement was achieved while maintaining disciplined operating cost management and continuing to invest strategically in innovation and public company infrastructure. Adjusted EBITDA margin expanded to a record 25.5%, demonstrating the Company's ability to drive profitable growth.
FOURTH QUARTER 2025 CONSOLIDATED RESULTS
Net revenues increased 10% to $435 million compared to $395 million in the prior year quarter. This result reinforces Alliance's pattern of durable, demand-driven growth and the resilience of its end-market positioning.
Gross profit increased 16% to $161 million, or 37.0% of revenue, an increase of 190 basis points of margin expansion versus the prior year quarter. The improvement reflects the combined benefit of volume leverage and cost-down initiatives, with pricing actions largely offsetting the approximate $5 million tariff impact in the quarter.
Net income decreased 44% to $21 million compared to $37 million in the prior year quarter, primarily due to a one-time share based compensation expense associated with the Company's IPO, partially offset by significantly lower interest expense following debt reduction actions. Adjusted Net Income increased 18% to $49 million versus $41 million in the prior year quarter, reflecting strong operating performance including significantly lower interest expense.
Adjusted EBITDA increased 17% to $107 million, or 24.5% of revenue, an increase of 140 basis points versus the prior year quarter. Revenue grew 10% while Adjusted EBITDA grew 17% over the prior year quarter, demonstrating the operating leverage inherent in Alliance's business model and its continuing focus on driving profitable growth.
FULL YEAR 2025 RESULTS BY REPORTABLE SEGMENT
North America revenue increased 14% to $1.3 billion, compared to $1.1 billion in the prior year, with double-digit growth across the Vended and Commercial-in-Home end markets and high single digit growth in the On-Premise market. Equipment revenue increased 15% year over year, driven by particularly strong performance in the Vended and Commercial-In-Home end markets. North America Adjusted EBITDA increased 14% to $361 million, compared to $318 million in the prior year. Adjusted EBITDA margin was 28.5%. The Company's local-for-local manufacturing strategy provided significant structural protection from tariffs, with approximately $12 million in cost increase largely offset on both a dollar and margin basis through pricing actions.
International revenue increased 10% to $440 million, compared to $399 million in the prior year driven by strong performance in Europe and Asia Pacific, where expanding Vended end markets are driving growth. International Adjusted EBITDA increased 17% to $121 million, compared to $103 million in the prior year. Adjusted EBITDA margin expanded 160 basis points to 27.4%, driven by Speed Queen licensed stores in Europe, first-mover advantage in nascent vended markets across Asia and Latin America, and continued focus on profitable growth across all regions.
FOURTH QUARTER 2025 RESULTS BY REPORTABLE SEGMENT
North America revenue increased 9% to $317 million in the fourth quarter, with Adjusted EBITDA growing 15% to $88 million, and margin expanding to 27.9%. Growth was broad-based across all end markets, with pricing actions largely offsetting modest tariff impacts and margin expansion driven by cost-down initiatives and strong incremental margins on volume growth.
International revenue increased 12% to $118 million, with Adjusted EBITDA growing 25% to $29 million, and margin expanding 260 basis points to 24.8%. Revenue growth was driven by particularly strong performance in Europe, underpinned by the continued success of Speed Queen Licensed Stores, and solid demand across Asia Pacific markets.
CASH FLOW AND BALANCE SHEET
Operating cash flow for the year increased 46% to $212 million, versus $145 million in 2024. This robust cash generation reflects the Company's business model, effective working capital management, and strong earnings growth.
The Company significantly strengthened its balance sheet in 2025, reducing Net Leverage from 5.0x to 2.8x, a reduction of 2.2x in a single year. Debt declined to $1.4 billion from $2.1 billion at the start of the year, with cash of $123 million resulting in Net Debt of $1.2 billion at year end. Approximately one full turn of that deleveraging was funded entirely by cash generated from operations, with the balance driven by proceeds from the October 2025 IPO. This demonstrates the Company's strong free cash flow generation capability and its ability to delever independent of capital markets activity.
Capital expenditures were $54 million as the Company invested across its global manufacturing facilities. This represents approximately 3% of revenue, directed at capacity expansion, automation, new product development, plus expanded testing capabilities in Thailand and the Czech Republic.
FULL YEAR 2025 BUSINESS HIGHLIGHTS
Innovation Leadership -- Alliance continued to invest at scale in 2025:
-- Extended ProCapture lint filtration technology across a broader range of
products
-- Launched the T55 stack tumbler, the industry's largest at 55 pounds
-- Introduced Scan-Pay-Wash, the industry's first app-less cashless payment
solution
-- Launched the Stax-X stacked washer-dryer unit for laundromats, the first
product fully developed at Alliance's Thailand engineering facility
-- Conducted over five million hours of physical product testing in 2025,
reflecting the depth of investment and rigor behind innovation pipeline
Commercial and Operational Execution -- Alliance delivered strong commercial and operational results across products, end markets and geographies in 2025:
-- Europe continued to gain traction, contributing to international growth
and further establishing our brands' premium positioning in key markets
-- North America demand for commercial-grade product in the home accelerated
meaningfully, with Commercial-In-Home revenue growing over 20%
-- Disciplined pricing actions largely offset tariff headwinds while
preserving margins and cost-down initiatives contributed to 80 basis
points of gross margin expansion
-- Acquisition of Metropolitan Laundry Machinery Sales expanded Alliance's
direct distribution footprint in the high-density Northeast market
-- Delivered approximately $46 million in annualized interest savings
through a combination of debt paydown and term loan repricing,
meaningfully improving ongoing cost of capital and financial flexibility
2026 FULL YEAR GUIDANCE
The Company's outlook includes Adjusted EBITDA and Net Leverage, which are non-GAAP measures. The Company does not provide certain estimated future results for Adjusted EBITDA and Net Leverage on a GAAP basis because the Company is unable to predict, with reasonable certainty, certain items that are excluded from Adjusted EBITDA, including but not limited to restructuring and acquisition-related charges, non-cash asset impairment charges and gains or losses from dispositions and foreign exchange gains/losses on intercompany loans. These items are uncertain and will depend on several factors, including industry conditions, and could be material to the Company's results computed in accordance with GAAP. The Company has not provided reconciliations between the Company's 2026 guidance and the most directly comparable GAAP measures because it would be too difficult to prepare a reliable U.S. GAAP quantitative reconciliation without unreasonable effort.
The Company is introducing its first full-year annual guidance. In 2026, Alliance expects:
2026 Guidance
---------------------
Revenue Growth +5% to 7%
----------------------- ---------------------
Adjusted EBITDA Growth +6% to 8%
----------------------- ---------------------
Net Leverage Low 2x by end of year
----------------------- ---------------------
Capex (% of Revenue) 3%
----------------------- ---------------------
Effective Tax Rate 23.5%
----------------------- ---------------------
Interest Expense $85 million
----------------------- ---------------------
Diluted Share Count 205 million
CONFERENCE CALL INFORMATION
Alliance will host a conference call to discuss these results at 8:00 a.m. Eastern Time today, March 12, 2026.
To listen to the conference call, a live audio webcast will be available on Alliance's Investor Relations website at https://ir.alliancelaundry.com/news-events/ir-calendar. A replay of the webcast will be available after the call.
To participate in the conference call, analysts and investors can dial 1 (800) 267-6316 and international participants can dial 1 (203) 518-9783. The Conference ID is ALHQ4FY25. Participants should dial in at least 10 minutes prior to the call.
ABOUT ALLIANCE LAUNDRY
Alliance Laundry makes the world cleaner as a provider of the highest quality commercial laundry systems. Our laundry solutions are available under five respected brands, sold and supported by a global network of select distributors. We serve approximately 150 countries with a team of more than 4,000 employees. Our brands include Speed Queen$(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 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.
"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, intangible amortization, foreign exchange on intercompany loans and other non-recurring items.
"Net Debt" represents our total debt less Cash and cash equivalents.
"Net Debt to Adjusted EBITDA" or "Net Leverage" represents total debt less Cash and cash equivalents divided by Adjusted EBITDA for 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 the Company's plans, guidance, growth, execution, costs and cost savings 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 Company's 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, 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.
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(unaudited)
(in thousands, except per share amounts)
Three Months Ended
December 31, Year Ended December 31,
2025 2024 2025 2024
------------------ ------------------ ------------------ ------------------
Net revenues:
Equipment,
service parts
and other $ 422,215 $ 383,106 $ 1,659,680 $ 1,459,746
Equipment
financing 12,659 12,030 49,557 48,694
------------------ ------------------ ------------------ ------------------
Net revenues 434,874 395,136 1,709,237 1,508,440
Costs and
expenses:
Cost of sales 263,973 244,682 1,028,073 914,655
Cost of sales -
related
parties 2,290 1,574 7,322 6,218
Equipment
financing
expenses 7,670 10,319 31,738 36,316
------------------ ------------------ ------------------ ------------------
Gross profit 160,941 138,561 642,104 551,251
------------------ ------------------ ------------------ ------------------
Selling, general,
and
administrative
expenses 97,345 70,678 324,458 266,444
Selling, general,
and
administrative
expenses -
related parties 55 75 280 300
Other costs -- 494 -- 494
------------------ ------------------ ------------------ ------------------
Total operating
expenses 97,400 71,247 324,738 267,238
------------------ ------------------ ------------------ ------------------
Operating income 63,541 67,314 317,366 284,013
Interest expense,
net 29,261 31,231 150,501 132,001
Other expenses,
net 2,317 (13,734) 28,831 23,376
Other expenses,
net - related
parties -- 5,187 -- 5,187
------------------ ------------------ ------------------ ------------------
Income before
taxes 31,963 44,630 138,034 123,449
Provision for
income taxes 11,367 7,566 36,279 25,130
------------------ ------------------ ------------------ ------------------
Net income $ 20,596 $ 37,064 $ 101,755 $ 98,319
================== ================== ================== ==================
Comprehensive
income:
Net income $ 20,596 $ 37,064 $ 101,755 $ 98,319
Foreign currency
translation
adjustment (33) (29,207) 59,122 (27,439)
Change in
pension
liability and
other
post-retirement
benefits, net
of taxes of $0
and $0 at
December 31,
2025 and 2024,
respectively (192) 71 (192) 71
------------------ ------------------ ------------------ ------------------
Total other
comprehensive
(loss)/income (225) (29,136) 58,930 (27,368)
------------------ ------------------ ------------------ ------------------
Comprehensive
income $ 20,371 $ 7,928 $ 160,685 $ 70,951
================== ================== ================== ==================
Net income per
share
attributable to
common
stockholders:
Basic $ 0.11 $ 0.22 $ 0.57 $ 0.58
Diluted $ 0.10 $ 0.21 $ 0.56 $ 0.56
Weighted average
number of common
shares
outstanding
Basic 195,038 170,638 177,002 170,591
Diluted 201,085 174,579 181,443 174,331
ALLIANCE LAUNDRY HOLDINGS INC.
CONSOLIDATED BALANCE SHEETS
(unaudited)
(in thousands, except share and per share amounts)
December 31, 2025 December 31, 2024
--------------------------------- -------------------------------
Assets
Current assets:
Cash and cash equivalents $ 123,102 $ 154,682
Restricted cash 3,602 6,401
Restricted cash - for
securitization investors 22,999 26,959
Accounts receivable (net of
allowance for credit losses
of $3,021 and $2,663 at
December 31, 2025 and 2024,
respectively) 113,651 92,150
Inventories, net 146,039 133,494
Inventories, net - related
parties 821 989
Accounts receivable, net -
restricted for securitization
investors 141,973 130,060
Equipment financing
receivables, net 2,822 4,600
Equipment financing
receivables, net - restricted
for securitization investors 92,011 88,288
Prepaid expenses and other
current assets 28,862 30,534
--------------------------------- -------------------------------
Total current assets 675,882 668,157
Equipment financing
receivables, net 4,913 7,633
Property, plant, and equipment,
net 265,250 248,341
Operating lease right-of-use
assets 20,741 17,080
Equipment financing
receivables, net - restricted
for securitization investors 470,408 417,672
Deferred income tax asset 3,169 3,220
Debt issuance costs, net 3,461 2,793
Goodwill 684,230 666,580
Intangible assets, net 754,737 793,666
Other long-term assets 3,097 6,963
--------------------------------- -------------------------------
Total assets $ 2,885,888 $ 2,832,105
================================= ===============================
Liabilities and Stockholders'
Equity/(Deficit)
Current liabilities:
Current portion of long-term
debt $ 113 $ 20,896
Accounts payable 128,662 141,808
Accounts payable - related
parties 1,852 1,338
Asset backed borrowings - owed
to securitization investors 194,180 170,862
Current operating lease
liabilities 5,927 5,502
Other current liabilities 153,592 138,259
--------------------------------- -------------------------------
Total current liabilities 484,326 478,665
Long-term debt, net 1,354,636 2,034,545
Asset backed borrowings - owed
to securitization investors 424,406 382,910
Deferred income tax liability 169,355 171,103
Long-term operating lease
liabilities 15,745 12,549
Other long-term liabilities 45,302 29,661
--------------------------------- -------------------------------
Total liabilities 2,493,770 3,109,433
Stockholders' equity/(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, 197,532,147 and
189,609,192 issued,
respectively, and 197,532,147
and 125,290,718, outstanding,
respectively 1,975 1,896
Additional paid-in capital 509,369 189,911
(Accumulated deficit)/retained
earnings (176,404) 31,527
Accumulated other comprehensive
income/(loss) 57,178 (1,752)
Treasury stock, at cost, 0 and
64,318,474 shares,
respectively -- (498,910)
--------------------------------- -------------------------------
Total stockholders'
equity/(deficit) 392,118 (277,328)
--------------------------------- -------------------------------
Total liabilities and
stockholders'
equity/(deficit) $ 2,885,888 $ 2,832,105
================================= ===============================
ALLIANCE LAUNDRY HOLDINGS INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited)
(in thousands)
Year Ended December 31,
2025 2024
-------------------------------- --------------------------------
Cash flows from
operating
activities:
Net income $ 101,755 $ 98,319
Adjustments to
reconcile net
income to net cash
provided by
operating
activities:
Depreciation and
amortization 93,701 90,169
Amortization and
extinguishment
of debt issuance
costs 4,528 5,559
Amortization of
original issue
discount 6,202 2,620
Non-cash interest
expense/(income) 10,299 (700)
Non-cash
(gain)/loss on
commodity &
foreign exchange
contracts, net (751) 657
Non-cash foreign
exchange
loss/(gain),
net 25,152 (4,654)
Non-cash
stock-based
compensation 19,519 3,263
Non-cash
(gain)/loss for
pension and
post-retirement
benefit plans (192) 71
Loss on sale of
property, plant,
and equipment 1,291 318
Provision for
credit losses 3,622 7,145
Deferred income
taxes (3,340) (31,583)
Changes in assets
and liabilities,
net of the
effects of
acquisitions:
Accounts and
equipment
financing
receivables,
net (9,801) 639
Accounts
receivable -
restricted for
securitization
investors (12,227) 9,071
Inventories,
net (6,494) 5,776
Inventories,
net - related
party 168 55
Equipment
financing
receivables,
net -
restricted for
securitization
investors (32,566) (35,065)
Other assets 3,382 362
Accounts
payable (14,012) 5,755
Accounts
payable -
related
parties 514 (171)
Other
liabilities 20,935 (12,146)
-------------------------------- --------------------------------
Net cash provided by
operating
activities 211,685 145,460
-------------------------------- --------------------------------
Cash flows from
investing
activities:
Capital
expenditures (53,668) (43,485)
Acquisition of
businesses, net of
cash acquired (12,619) (27,948)
Proceeds on
disposition of
assets 292 2,429
Originations of
equipment
financing
receivables, net -
restricted for
securitization
investors (102,344) (92,092)
Collections of
equipment
financing
receivables, net -
restricted for
securitization
investors 76,692 73,336
-------------------------------- --------------------------------
Net cash used in
investing
activities (91,647) (87,760)
-------------------------------- --------------------------------
Cash flows from
financing
activities:
Payments on
revolving line of
credit borrowings -- (5,674)
Proceeds from
long-term
borrowings -- 2,064,625
Payments on
long-term
borrowings (710,000) (1,268,000)
Cash paid for debt
establishment and
amendment fees (1,967) (2,389)
Proceeds from
initial public
offering, net of
issuance costs 497,032 --
Increase in asset
backed borrowings
owed to
securitization
investors 219,829 204,434
Decrease in asset
backed borrowings
owed to
securitization
investors (155,014) (165,898)
Dividends paid -- (265,940)
Return of capital
paid -- (634,060)
Repurchase of
common stock (6,205) (1,445)
Taxes paid related
to net share
settlement of
stock options (7,782) (1,138)
Net proceeds from
stock options
exercised 5,697 111
Proceeds from
common stock
issuance under
employee purchase
plan 500 --
-------------------------------- --------------------------------
Net cash used in
financing
activities (157,910) (75,374)
-------------------------------- --------------------------------
Effect of exchange
rate changes on
cash, cash
equivalents, and
restricted cash (467) (4,253)
(Decrease)/increase
in cash, cash
equivalents, and
restricted cash (38,339) (21,927)
Cash, cash
equivalents, and
restricted cash at
beginning of
period 188,042 209,969
-------------------------------- --------------------------------
Cash, cash
equivalents, and
restricted cash at
end of period $ 149,703 $ 188,042
================================ ================================
Reconciliation of
cash, cash
equivalents, and
restricted cash to
the Consolidated
Balance Sheets:
Cash and cash
equivalents 123,102 154,682
Restricted cash 3,602 6,401
Restricted cash -
for securitization
investors 22,999 26,959
-------------------------------- --------------------------------
Total cash, cash
equivalents, and
restricted cash
shown in the
Statement of
Cash Flows $ 149,703 $ 188,042
================================ ================================
Supplemental
disclosure of cash
flow information:
Cash paid for
interest $ 122,182 $ 146,660
Cash paid for
interest - to
securitized
investors $ 31,696 $ 34,313
Cash paid for
income taxes $ 48,725 $ 54,154
Supplemental
disclosure of
investing and
financing non-cash
activities:
Capital
expenditures
included in
accounts payable $ 3,211 $ 6,292
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 December
31, Year Ended December 31,
(in thousands) 2025 2024 2025 2024
------------- ------------- ------------ -----------
North America
Segment net
revenues 316,823 290,056 1,268,979 1,109,134
Segment
adjusted
EBITDA 88,460 77,249 361,487 317,779
Segment
adjusted
EBITDA
margin 27.9 % 26.6 % 28.5 % 28.7 %
International
Segment net
revenues 118,051 105,080 440,258 399,306
Segment
adjusted
EBITDA 29,253 23,380 120,597 103,148
Segment
adjusted
EBITDA
margin 24.8 % 22.2 % 27.4 % 25.8 %
ALLIANCE LAUNDRY HOLDINGS INC.
RECONCILIATION SCHEDULES
Selected financial information for each segment is as follows:
(Unaudited)
----------------------------------------------------------------------------------------------------------------
Three Months Ended December 31, 2025 Three Months Ended December 31, 2024
------------------------------------------------------- -------------------------------------------------------
(in thousands) North America International Total North America International Total
-------------------- ------------------- ------------ -------------------- ------------------- ------------
Net revenues $ 316,823 $ 118,051 $ 434,874 $ 290,056 $ 105,080 $ 395,136
Cost of
sales(1) 199,617 73,168 186,719 69,076
Other segment
items(2) 28,746 15,630 26,088 12,624
Adjusted EBITDA $ 88,460 $ 29,253 $ 117,713 $ 77,249 $ 23,380 $ 100,629
Reconciling
items:
Interest
expense, net (29,261) (31,231)
Depreciation
and
amortization (24,357) (22,673)
Refinancing and
debt related
costs (200) (250)
Foreign
exchange
(loss)/gain on
intercompany
loans (2,117) 8,797
Share-based
compensation (17,217) (678)
Strategic
transaction
costs (1,451) (620)
Corporate and
other (11,147) (9,344)
Income before
taxes $ 31,963 $ 44,630
(Unaudited)
------------------------------------------------------------------------------------------------------------
Year Ended December 31, 2025 Year Ended December 31, 2024
---------------------------------------------------- ------------------------------------------------------
(in thousands) North America International Total North America International Total
------------------- ------------------ ----------- ------------------- ------------------- ------------
Net revenues $ 1,268,979 $ 440,258 $ 1,709,237 $ 1,109,134 $ 399,306 $ 1,508,440
Cost of
sales(1) 791,853 271,485 700,743 254,043
Other segment
items(2) 115,639 48,176 90,612 42,115
Adjusted EBITDA $ 361,487 $ 120,597 $ 482,084 $ 317,779 $ 103,148 $ 420,927
Reconciling
items:
Interest
expense, net (150,501) (132,001)
Depreciation
and
amortization (93,701) (90,169)
Refinancing and
debt related
costs (3,679) (33,217)
Foreign
exchange
(loss)/gain on
intercompany
loans (25,152) 4,654
Share-based
compensation (19,779) (3,263)
Strategic
transaction
costs (5,627) (5,803)
Corporate and
other (45,611) (37,679)
Income before
taxes $ 138,034 $ 123,449
(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 to the non-GAAP financial measure adjusted earnings before interest, taxes, depreciation and amortization (Adjusted EBITDA) and Net income margin to Adjusted EBITDA margin:
(Unaudited)
---------------------------------------------------------------------------------
Three Months Ended December 31, Year Ended December 31,
(in thousands,
except
percentages) 2025 2024 2025 2024
---------------------- ---------------------- --------------- ----------------
Net Income $ 20,596 $ 37,064 $ 101,755 $ 98,319
Provision for
income taxes 11,367 7,566 36,279 25,130
Interest
expense, net 29,261 31,231 150,501 132,001
Depreciation
and
amortization 24,357 22,673 93,701 90,169
Refinancing
and debt
related
costs 200 250 3,679 33,217
Foreign
exchange loss
(gain) on
intercompany
loans, net 2,117 (8,797) 25,152 (4,654)
Share-based
compensation 17,217 678 19,779 3,263
Strategic
transaction
costs 1,451 620 5,627 5,803
---------------------- ---------------------- --------------- ----------------
Adjusted EBITDA $ 106,566 $ 91,285 $ 436,473 $ 383,248
====================== ====================== =============== ================
Net revenues $ 434,874 $ 395,136 $ 1,709,237 $ 1,508,440
Net income
margin 4.7 % 9.4 % 6.0 % 6.5 %
Adjusted EBITDA
margin 24.5 % 23.1 % 25.5 % 25.4 %
The following table presents a reconciliation of Net income to Adjusted net income:
(Unaudited)
-----------------------------------------------------------------------------------------------------
Three Months Ended December 31, Year Ended December 31,
(in thousands,
except per
share data) 2025 2024 2025 2024
------------------------ ------------------------ ------------------------ -----------------------
Net income $ 20,596 $ 37,064 $ 101,755 $ 98,319
Amortization
of intangible
assets 13,620 12,931 51,681 50,515
Refinancing
and debt
related
costs 200 250 3,679 33,217
Foreign
exchange loss
(gain) on
intercompany
loans, net 2,117 (8,797) 25,152 (4,654)
Share-based
compensation 17,217 678 19,779 3,263
Strategic
transaction
costs 1,451 620 5,627 5,803
Tax effect of
add backs (6,239) (1,359) (22,634) (20,449)
------------------------ ------------------------ ------------------------ -----------------------
Adjusted net
income $ 48,962 $ 41,387 $ 185,039 $ 166,014
======================== ======================== ======================== =======================
Net income per
share
attributable
to common
stockholders -
diluted: $ 0.10 $ 0.21 $ 0.56 $ 0.56
Adjusted net
income per
share
attributable
to common
stockholders -
diluted: $ 0.24 $ 0.24 $ 1.02 $ 0.95
The following table presents a reconciliation of Debt to Net Debt and Net Debt to Adjusted EBITDA:
(Unaudited)
(in thousands) December 31, 2025 December 31, 2024
Term loan $ 1,365,000 $ 2,075,000
Finance lease
obligations 236 359
---------------------------------- ---------------------------------
Debt 1,365,236 2,075,359
Less: Cash and
cash
equivalents (123,102) (154,682)
---------------------------------- ---------------------------------
Net debt $ 1,242,134 $ 1,920,677
Adjusted EBITDA $ 436,473 $ 383,248
Net debt to 2.8 5.0
Adjusted x x
EBITDA
View original content:https://www.prnewswire.com/news-releases/alliance-reports-fourth-quarter-and-full-year-2025-results-302711659.html
SOURCE Alliance Laundry Systems
(END) Dow Jones Newswires
March 12, 2026 07:00 ET (11:00 GMT)