Revenue rebounded 14.1% year over year to $172.8M with operating margin recovering to 8.4% in 2026Q3, though net margin of 5.6% still trails operating performance and quarterly profitability remains volatile.
DMC Global Inc. (BOOM) annual income statement — 30-year revenue, gross profit & net income history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Sales/Revenue | 608.9M | 609.84M | 642.85M | 719.19M | 654.09M | 260.12M | 229.16M | 397.55M | 326.43M | 192.8M | 158.57M | 166.92M | 202.56M | 209.57M | 201.57M | 208.89M | 154.74M | 164.9M | 232.58M | 165.18M | 113.47M | 79.29M | 54.16M | 40.28M | 45.66M | 42.51M | 27.86M | 29.1M | 38.2M | 32.1M | 29.2M |
| Revenue Growth % | -1.58% | -5.14% | -10.61% | 9.95% | 151.46% | 13.51% | -42.36% | 21.79% | 69.31% | 21.58% | -5% | -17.6% | -3.35% | 3.97% | -3.51% | 35% | -6.16% | -29.1% | 40.81% | 45.56% | 43.11% | 46.39% | 34.48% | -11.78% | 7.39% | 52.59% | -4.25% | -23.82% | 19% | 9.93% | 49.74% |
| Cost of Goods Sold | 482.52M | 474.59M | 492.28M | 507.14M | 468.64M | 200.63M | 172.31M | 252.63M | 215.73M | 133.41M | 119.89M | 131.29M | 141.14M | 143.93M | 135.09M | 153.44M | 117.79M | 121.78M | 161.73M | 110.17M | 71.44M | 55.86M | 40.56M | 26.8M | 26.67M | 27.96M | 28.15M | 23.9M | 29.2M | 23.6M | 22.4M |
| COGS % of Revenue | - | 77.82% | 76.58% | 70.52% | 71.65% | 77.13% | 75.19% | 63.55% | 66.09% | 69.2% | 75.61% | 78.66% | 69.68% | 68.68% | 67.02% | 73.46% | 76.12% | 73.85% | 69.54% | 66.7% | 62.96% | 70.44% | 74.88% | 66.54% | 58.42% | 65.77% | 101.05% | 82.13% | 76.44% | 73.52% | 76.71% |
| Gross Profit | 126.38M | 135.25M | 150.57M | 212.05M | 185.45M | 59.48M | 56.85M | 144.92M | 110.69M | 59.39M | 38.68M | 35.62M | 61.42M | 59.51M | 59.71M | 55.45M | 36.95M | 43.12M | 70.84M | 55.01M | 42.03M | 23.43M | 13.61M | 8.87M | 11.47M | 10.68M | 5.61M | 5.2M | 9M | 8.5M | 6.8M |
| Gross Margin % | 20.76% | 22.18% | 23.42% | 29.48% | 28.35% | 22.87% | 24.81% | 36.45% | 33.91% | 30.8% | 24.39% | 21.34% | 30.32% | 28.4% | 29.62% | 26.54% | 23.88% | 26.15% | 30.46% | 33.3% | 37.04% | 29.56% | 25.12% | 22.03% | 25.11% | 25.13% | 20.13% | 17.87% | 23.56% | 26.48% | 23.29% |
| Gross Profit Growth % | - | -10.17% | -28.99% | 14.35% | 211.78% | 4.62% | -60.77% | 30.92% | 86.38% | 53.54% | 8.58% | -42% | 3.2% | -0.32% | 7.69% | 50.06% | -14.31% | -39.14% | 28.79% | 30.87% | 79.36% | 72.25% | 53.35% | -22.63% | 7.34% | 90.45% | 7.86% | -42.22% | 5.88% | 25% | 51.11% |
| Operating Expenses | 120.41M | 131.78M | 281.83M | 150.88M | 155.46M | 61.88M | 57.85M | 86.5M | 73.27M | 71.65M | 43.95M | 59.3M | 54.75M | 47.16M | 41.65M | 37.23M | 30.16M | 26.88M | 32.79M | 16.11M | 11.93M | 7.67M | 6.72M | 5.66M | 5.01M | 5.71M | 6.23M | 8M | 6.4M | 5.2M | 4.1M |
| OpEx % of Revenue | - | 21.61% | 43.84% | 20.98% | 23.77% | 23.79% | 25.24% | 21.76% | 22.45% | 37.16% | 27.72% | 35.53% | 27.03% | 22.5% | 20.66% | 17.82% | 19.49% | 16.3% | 14.1% | 9.76% | 10.51% | 9.67% | 12.4% | 14.06% | 10.98% | 13.42% | 22.38% | 27.49% | 16.75% | 16.2% | 14.04% |
| Selling, General & Admin | 106.28M | 110.04M | 108.66M | 124.44M | 118.35M | 58.78M | 53.01M | 65.45M | 61.21M | 45.72M | 38.74M | 39.74M | 41.87M | 40.81M | 35.44M | 31.52M | 24.83M | 21.82M | 25.41M | 14.92M | 11.93M | 7.67M | 6.72M | 5.66M | 5.01M | 5.71M | 6.23M | 5.2M | 5.3M | 4.1M | 3.6M |
| SG&A % of Revenue | - | 18.04% | 16.9% | 17.3% | 18.09% | 22.6% | 23.13% | 16.46% | 18.75% | 23.72% | 24.43% | 23.81% | 20.67% | 19.47% | 17.58% | 15.09% | 16.05% | 13.23% | 10.93% | 9.04% | 10.51% | 9.67% | 12.4% | 14.06% | 10.98% | 13.42% | 22.38% | 17.87% | 13.87% | 12.77% | 12.33% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 400K | 300K |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1.25% | 1.03% |
| Other Operating Expenses | 3M | 21.74M | 173.17M | 26.43M | 37.11M | 3.1M | 4.84M | 21.05M | 12.06M | 25.93M | 5.21M | 19.56M | 12.88M | 6.35M | 6.21M | 5.71M | 5.33M | 5.06M | 7.38M | 1.19M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.8M | 1.1M | 700K | 200K |
| Operating Income | 5.98M | 3.47M | -131.26M | 61.18M | 29.99M | -2.4M | -996K | 58.42M | 37.42M | -12.26M | -5.27M | -23.68M | 6.67M | 11.7M | 17.4M | 18.22M | 6.79M | 16.24M | 38.05M | 38.89M | 30.1M | 15.77M | 6.89M | 2.17M | 4.84M | 4.04M | -630.11K | -2.8M | 2.6M | 3.3M | 2.7M |
| Operating Margin % | 0.98% | 0.57% | -20.42% | 8.51% | 4.58% | -0.92% | -0.43% | 14.7% | 11.46% | -6.36% | -3.33% | -14.19% | 3.29% | 5.58% | 8.63% | 8.72% | 4.39% | 9.85% | 16.36% | 23.55% | 26.53% | 19.89% | 12.72% | 5.4% | 10.6% | 9.49% | -2.26% | -9.62% | 6.81% | 10.28% | 9.25% |
| Operating Income Growth % | - | 102.64% | -314.55% | 103.99% | 1348.54% | -141.16% | -101.7% | 56.12% | 405.25% | -132.46% | 77.73% | -455.27% | -43.02% | -32.79% | -4.48% | 168.36% | -58.19% | -57.33% | -2.16% | 29.2% | 90.91% | 128.93% | 216.87% | -55.08% | 19.89% | 740.5% | 77.5% | -207.69% | -21.21% | 22.22% | 145.45% |
| EBITDA | 38.55M | 37.42M | -96.21M | 97.68M | 81.2M | 10.29M | 10.09M | 68.28M | 46.94M | -1.69M | 5.49M | -13.4M | 19.82M | 24.59M | 29.15M | 29.42M | 17.5M | 26.34M | 49.97M | 42.27M | 31.52M | 17.34M | 8.28M | 3.42M | 6.09M | 5.33M | 1.09M | -1.3M | 3.7M | 4M | 3.2M |
| EBITDA Margin % | 6.33% | 6.14% | -14.97% | 13.58% | 12.41% | 3.96% | 4.4% | 17.18% | 14.38% | -0.88% | 3.46% | -8.03% | 9.78% | 11.73% | 14.46% | 14.08% | 11.31% | 15.98% | 21.48% | 25.59% | 27.78% | 21.86% | 15.28% | 8.49% | 13.34% | 12.55% | 3.91% | -4.47% | 9.69% | 12.46% | 10.96% |
| EBITDA Growth % | -16.37% | 138.9% | -198.49% | 20.3% | 688.93% | 2.05% | -85.23% | 45.46% | 2871.19% | -130.84% | 140.99% | -167.62% | -19.41% | -15.64% | -0.91% | 68.08% | -33.56% | -47.28% | 18.21% | 34.09% | 81.83% | 109.49% | 141.85% | -43.83% | 14.19% | 389.81% | 183.77% | -135.14% | -7.5% | 25% | 128.57% |
| D&A (Non-Cash Add-back) | 32.57M | 33.96M | 35.05M | 36.51M | 51.21M | 12.69M | 11.08M | 9.86M | 9.52M | 10.57M | 10.77M | 10.28M | 13.15M | 12.89M | 11.75M | 11.2M | 10.71M | 10.11M | 11.91M | 3.38M | 1.42M | 1.57M | 1.39M | 1.25M | 1.25M | 1.3M | 1.72M | 1.5M | 1.1M | 700K | 500K |
| EBIT | 4.32M | -1.19M | -132.33M | 59.4M | 30.17M | -2.25M | -1.23M | 78.69M | 36.22M | -13.63M | -4.64M | -24.34M | 13.45M | 11.18M | 17.38M | 18.75M | 9.43M | 16.4M | 38.75M | 39.46M | 30.69M | 15.82M | 6.92M | 3.32M | 7.2M | 4.59M | -630.11K | -1.5M | 2.6M | 3.3M | 2.7M |
| Net Interest Income | -5.35M | -6.49M | -8.66M | -9.52M | -6.19M | -304K | -731K | -1.55M | -1.61M | -1.65M | -1.07M | -1.74M | -513K | -641K | -819K | -1.94M | -2.97M | -3.26M | -4.78M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4K | 38K | 7K | 13K | 8K | 74K | 216K | 689K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 5.35M | 6.49M | 8.66M | 9.52M | 6.19M | 304K | 731K | 1.55M | 1.61M | 1.65M | 1.07M | 1.75M | 551K | 648K | 832K | 1.95M | 3.05M | 3.47M | 5.47M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | -7.01M | -11.15M | -9.73M | -11.3M | -6.78M | -152K | -964K | -1.72M | -2.82M | -3.02M | -434K | -2.41M | -826K | -1.17M | -851K | -1.41M | -391K | -3.31M | -4.78M | -158K | 505K | -163K | -524.01K | -527.41K | 0 | -296.75K | 0 | -1.1M | -300K | -100K | -100K |
| Pretax Income | -1.03M | -7.68M | -140.99M | 49.88M | 23.21M | -2.55M | -1.96M | 56.7M | 34.61M | -15.28M | -5.71M | -26.09M | 5.84M | 9.81M | 15.15M | 16.81M | 6.4M | 12.93M | 33.27M | 38.73M | 30.61M | 15.61M | 6.36M | 1.65M | 6.45M | 3.74M | -1.5M | -3.9M | 2.3M | 3.2M | 2.6M |
| Pretax Margin % | -0.17% | -1.26% | -21.93% | 6.94% | 3.55% | -0.98% | -0.86% | 14.26% | 10.6% | -7.93% | -3.6% | -15.63% | 2.88% | 4.68% | 7.52% | 8.05% | 4.13% | 7.84% | 14.31% | 23.45% | 26.97% | 19.68% | 11.75% | 4.09% | 14.14% | 8.79% | -5.37% | -13.4% | 6.02% | 9.97% | 8.9% |
| Income Tax | 3.55M | 4.07M | 10.97M | 15.12M | 9.38M | -1.54M | -548K | 22.66M | 4.13M | 3.57M | 797K | -2.12M | 3.91M | 3.74M | 5.32M | 4.37M | 1.13M | 4.38M | 9.21M | 14.15M | 11.34M | 5.23M | 1.96M | 1.06M | 1.61M | 401.6K | 164K | -1.2M | 900K | 1.2M | 1M |
| Effective Tax Rate % | -345.19% | -52.95% | -7.78% | 30.31% | 40.4% | 60.45% | 27.96% | 39.97% | 11.95% | -23.35% | -13.96% | 8.12% | 67.01% | 38.09% | 35.09% | 25.99% | 17.71% | 33.87% | 27.67% | 36.52% | 37.05% | 33.53% | 30.82% | 64.27% | 24.94% | 10.74% | -10.96% | 30.77% | 39.13% | 37.5% | 38.46% |
| Net Income | -6.85M | -17.89M | -158.71M | 21.39M | 14.18M | -4.63M | -1.41M | 34.04M | 30.47M | -18.85M | -6.5M | -23.97M | 2.57M | 6.46M | 10.78M | 12.49M | 5.26M | 8.55M | 24.07M | 24.59M | 20.76M | 10.37M | 3.62M | -709.16K | 170.13K | 2.79M | -1.74M | -2.7M | 1.4M | 2M | 1.6M |
| Net Margin % | -1.12% | -2.93% | -24.69% | 2.97% | 2.17% | -1.78% | -0.62% | 8.56% | 9.34% | -9.78% | -4.1% | -14.36% | 1.27% | 3.08% | 5.35% | 5.98% | 3.4% | 5.18% | 10.35% | 14.89% | 18.3% | 13.08% | 6.68% | -1.76% | 0.37% | 6.56% | -6.25% | -9.28% | 3.66% | 6.23% | 5.48% |
| Net Income Growth % | 0.09% | 88.73% | -842.03% | 50.8% | 406.61% | -227.62% | -104.15% | 11.71% | 261.63% | -189.82% | 72.86% | -1033.81% | -60.26% | -40.07% | -13.72% | 137.25% | -38.41% | -64.48% | -2.11% | 18.41% | 100.19% | 186.54% | 610.43% | -516.84% | -93.9% | 260.24% | 35.53% | -292.86% | -30% | 25% | 128.57% |
| Net Income (Continuing) | -4.58M | -11.74M | -151.96M | 34.76M | 13.83M | -1.01M | -1.41M | 34.04M | 30.47M | -18.85M | -6.5M | -23.97M | 1.93M | 6.07M | 9.83M | 12.44M | 5.25M | 8.55M | 24.07M | 24.59M | 19.27M | 10.37M | 4.4M | 1.28M | 3.93M | 3.12M | -1.66M | -2.7M | 1.4M | 2M | 1.6M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 641K | 478K | 0 | 0 | 0 | 0 | 0 | 0 | 1.5M | 0 | -1.57M | -1.99M | -1.44M | -334.31K | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 187.08M | 187.08M | 187.08M | 187.76M | 187.52M | 197.2M | 0 | 0 | 0 | 0 | 0 | 0 | 180K | 0 | 84K | 83K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.34 | -0.90 | -8.20 | 1.08 | 0.72 | -0.26 | -0.10 | 2.28 | 2.04 | -1.31 | -0.46 | -1.72 | 0.18 | 0.54 | 0.87 | 0.93 | 0.40 | 0.68 | 1.92 | 2.00 | 1.70 | 0.86 | 0.13 | -0.03 | 0.01 | 0.13 | -0.11 | -0.17 | 0.25 | 0.18 | 0.15 |
| EPS Growth % | 48.94% | 89.02% | -859.26% | 50% | 376.92% | -172.25% | -104.19% | 11.76% | 255.73% | -184.78% | 73.26% | -1055.56% | -66.67% | -37.93% | -6.45% | 132.5% | -41.18% | -64.58% | -4% | 17.65% | 97.67% | 561.54% | 533.33% | - | -93.85% | 218.18% | 35.29% | -168% | 38.89% | 20% | 122.22% |
| EPS (Basic) | - | -0.90 | -8.20 | 1.08 | 0.72 | -0.26 | -0.10 | 2.29 | 2.05 | -1.31 | -0.46 | -1.72 | 0.18 | 0.55 | 0.87 | 0.94 | 0.40 | 0.68 | 1.93 | 2.03 | 1.75 | 0.92 | 0.14 | -0.04 | 0.01 | 0.14 | -0.11 | -0.17 | 0.25 | 0.19 | 0.16 |
| Diluted Shares Outstanding | 20.32M | 19.91M | 19.67M | 19.52M | 19.37M | 17.61M | 14.79M | 14.66M | 14.62M | 14.35M | 14.13M | 13.94M | 13.69M | 13.54M | 13.27M | 13.1M | 12.88M | 12.66M | 12.55M | 12.29M | 12.21M | 12.09M | 22.36M | 22.36M | 22.36M | 21M | 15.91M | 15.91M | 5.71M | 11.43M | 10.85M |
| Basic Shares Outstanding | 20.25M | 19.91M | 19.67M | 19.5M | 19.36M | 17.61M | 14.79M | 14.58M | 14.53M | 14.35M | 14.13M | 13.94M | 13.69M | 13.53M | 13.26M | 13.09M | 12.87M | 12.64M | 12.45M | 12.08M | 11.84M | 11.29M | 20.54M | 20.27M | 15.1M | 20.01M | 15.91M | 15.91M | 5.54M | 10.67M | 10M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | 8.11% | 3.9% | - | - | - | 86.72% | 33.86% | 20% | 17.05% | 39.68% | 12.02% | 7.87% | 7.41% | 8.51% | 11.14% | - | - | - | 10.61% | - | - | - | - | - |
Quick answers to the most common questions about buying BOOM stock.
For fiscal year 2025, DMC Global Inc. (BOOM) reported total revenue of $609.8M. This represents a 1988.5% increase compared to $29.2M in 1996.
DMC Global Inc. (BOOM) reported a net loss of $17.9M for the fiscal year ending 2025.
DMC Global Inc. (BOOM) reported an operating income of $3.5M, resulting in an operating profit margin of 0.6%. This margin reflects the operational efficiency of the business before interest and taxes.
DMC Global Inc. (BOOM) generated $135.3M in gross profit for the year, representing a gross profit margin of 22.2%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Volatile quarterly profitability
Metrics are mathematically derived from official filings.
Revenue Recovering After Volatile Stretch
According to reported quarterly figures, BOOM's revenue climbed 14.1% year over year to $172.8M in 2026Q3, reversing a stretch of declines that bottomed near 12.4% contraction in late 2024 and suggesting demand is stabilizing after a difficult cycle.
The shift from negative to positive year-over-year growth in the two most recent quarters is encouraging, but the sequential path has been uneven, with 2026Q1 revenue falling to $135.6M before rebounding sharply. This pattern suggests the recovery may be cyclical in nature, tied to energy-sector activity, rather than structurally driven, and investors should monitor whether growth holds through the next few reporting periods.
Gross Margin Rebounds But Remains Below Peak
Based on reported figures, BOOM's gross margin expanded to 26.9% in 2026Q3 from 15.6% in 2026Q1, yet remains below the 27.1% achieved in 2024Q2, indicating pricing and mix recovery is incomplete.
The margin swing of roughly 11 percentage points over two quarters points to meaningful sensitivity in pricing and product mix, consistent with a business exposed to project-level cost variability. Relative to peers such as ESAB at 35.5%, BOOM's gross margin appears structurally lower, which may limit pricing power and warrants further investigation into the durability of the current recovery.
Operating Leverage Turns Positive Recently
As reported in financial statements, BOOM's operating margin moved from a loss of 7.1% in 2025Q4 to 8.4% in 2026Q3, with operating income rising to $14.5M while SG&A held roughly flat near $27.5M.
Because SG&A remained relatively stable while gross profit expanded from about $21.1M to $46.4M over the recent period, the incremental margin on revenue appears substantial, suggesting operating leverage is working in the company's favor. However, the magnitude of the improvement is tied to a rebound from a weak base, so it may not represent sustained efficiency until several quarters of positive operating income are demonstrated.
Net Income Lags Operating Recovery
Based on EDBL-style reported figures, BOOM posted net income of $9.7M in 2026Q3 against operating income of $14.5M, a net margin of 5.6% that trails the operating margin of 8.4% and reflects below-the-line drag.
The gap between operating and net income is consistent with interest, tax, or other non-operating items absorbing a portion of operating profit, though the provided data does not break these components out. Stock-based compensation of roughly $0.8M per quarter is modest relative to revenue, so it does not appear to be a material distortion, but the reliance on a single profitable quarter for EPS of $0.59 warrants caution in extrapolating.
Recovery May Prove Cyclical and Fragile
Based on reported quarterly data, BOOM swung from a $148.9M operating loss in 2024Q3 to positive operating income within several quarters, a pattern that short-sellers may cite as evidence of unstable earnings power rather than a durable turnaround.
The 2024Q3 loss and the repeated quarters of negative operating margin highlight how sensitive reported results have been to project timing and impairments, which the income statement alone cannot fully explain. The recent profitability rests on only two positive quarters, and the peer group shows wide dispersion in margins, so the narrative of a sustained recovery may be premature until earnings persist across a fuller cycle.