Revenue growth accelerated to 103.9% in 2026Q1, though gross margins have trended downward from 25.9% in 2024Q1 to 21.0% due to competitive pricing pressures.
| 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 | 291.15M | 241.02M | 180.38M | 175.26M | 182.69M | 140.97M | 113.92M | 82.02M | 54.06M | 61.99M | 48.33M | 60.92M | 70.74M | 108.54M | 127.88M | 149.63M | 82.57M | 85.37M | 105.22M | 62.97M | 44.08M | 35.64M | 28.64M | 26.21M | 22.02M | 21.12M | 24.97M | 21.7M | 15.8M | 12.9M | 13.8M |
| Revenue Growth % | 54.23% | 33.62% | 2.92% | -4.06% | 29.6% | 23.74% | 38.89% | 51.74% | -12.81% | 28.28% | -20.67% | -13.89% | -34.82% | -15.12% | -14.54% | 81.22% | -3.28% | -18.86% | 67.1% | 42.84% | 23.69% | 24.43% | 9.28% | 19.03% | 4.28% | -15.43% | 15.07% | 37.34% | 22.48% | -6.52% | 4.55% |
| Cost of Goods Sold | 228.57M | 187.1M | 136.06M | 133.61M | 137.86M | 109.74M | 90.85M | 65.77M | 44.38M | 50.71M | 40.02M | 51.19M | 58.09M | 88.78M | 103.59M | 128.24M | 70.77M | 73.11M | 91.24M | 51.73M | 36.85M | 29.12M | 22.74M | 20.39M | 16.63M | 16.04M | 18.95M | 17.2M | 13.3M | 10.5M | 10.5M |
| COGS % of Revenue | - | 77.63% | 75.43% | 76.23% | 75.46% | 77.85% | 79.75% | 80.18% | 82.09% | 81.79% | 82.81% | 84.03% | 82.12% | 81.79% | 81.01% | 85.71% | 85.71% | 85.63% | 86.71% | 82.16% | 83.59% | 81.7% | 79.4% | 77.81% | 75.53% | 75.96% | 75.89% | 79.26% | 84.18% | 81.4% | 76.09% |
| Gross Profit | 62.58M | 53.92M | 44.32M | 41.66M | 44.83M | 31.22M | 23.07M | 16.26M | 9.68M | 11.29M | 8.31M | 9.73M | 12.65M | 19.76M | 24.28M | 21.38M | 11.8M | 12.26M | 13.98M | 11.24M | 7.23M | 6.52M | 5.9M | 5.82M | 5.39M | 5.08M | 6.02M | 4.5M | 2.5M | 2.4M | 3.3M |
| Gross Margin % | 21.49% | 22.37% | 24.57% | 23.77% | 24.54% | 22.15% | 20.25% | 19.82% | 17.91% | 18.21% | 17.19% | 15.97% | 17.88% | 18.21% | 18.99% | 14.29% | 14.29% | 14.37% | 13.29% | 17.84% | 16.41% | 18.3% | 20.6% | 22.19% | 24.47% | 24.04% | 24.11% | 20.74% | 15.82% | 18.6% | 23.91% |
| Gross Profit Growth % | - | 21.68% | 6.38% | -7.07% | 43.58% | 35.34% | 41.91% | 67.94% | -14.25% | 35.88% | -14.58% | -23.12% | -35.98% | -18.62% | 13.56% | 81.25% | -3.8% | -12.28% | 24.44% | 55.31% | 10.93% | 10.55% | 1.44% | 7.91% | 6.15% | -15.66% | 33.77% | 80% | 4.17% | -27.27% | 43.48% |
| Operating Expenses | 36.38M | 35.82M | 36.16M | 32.9M | 30.88M | 21.72M | 16.28M | 13.01M | 8.99M | 9.3M | 10.75M | 11.68M | 13.05M | 22.17M | 25.5M | 15.41M | 11.59M | 11.16M | 10.33M | 9.98M | 5.91M | 5.49M | 4.85M | 4.67M | 4.85M | 5.07M | 5.86M | 3.8M | 2.3M | 1.9M | 1.9M |
| OpEx % of Revenue | - | 14.86% | 20.05% | 18.77% | 16.9% | 15.41% | 14.29% | 15.87% | 16.63% | 15.01% | 22.24% | 19.18% | 18.45% | 20.42% | 19.94% | 10.3% | 14.04% | 13.08% | 9.81% | 15.85% | 13.41% | 15.42% | 16.92% | 17.83% | 22.02% | 24% | 23.45% | 17.51% | 14.56% | 14.73% | 13.77% |
| Selling, General & Admin | 34.47M | 33.95M | 34.61M | 31.54M | 29.43M | 20.8M | 15.55M | 12.49M | 8.7M | 8.98M | 10.35M | 11.15M | 12.67M | 21.44M | 24.8M | 14.98M | 11.1M | 10.75M | 9.84M | 9.73M | 5.77M | 5.35M | 4.7M | 4.51M | 4.65M | 4.64M | 5.47M | 3.6M | 2.2M | 1.8M | 1.8M |
| SG&A % of Revenue | - | 14.09% | 19.18% | 17.99% | 16.11% | 14.75% | 13.65% | 15.23% | 16.1% | 14.49% | 21.41% | 18.3% | 17.91% | 19.75% | 19.4% | 10.01% | 13.44% | 12.6% | 9.35% | 15.45% | 13.09% | 15.01% | 16.41% | 17.22% | 21.1% | 21.98% | 21.9% | 16.59% | 13.92% | 13.95% | 13.04% |
| 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 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 1.91M | 1.87M | 1.55M | 1.36M | 1.45M | 926.1K | 728.63K | 520.3K | 216.47K | 84.65K | 4.2K | 8.02K | 174.19K | 126.02K | 60.09K | 429.48K | 494.91K | 410.84K | 484.83K | 253.62K | 139.31K | 145.34K | 148.33K | 160.13K | 202.99K | 427.68K | 387.96K | 200K | 100K | 100K | 100K |
| Operating Income | 26.2M | 18.11M | 8.16M | 8.76M | 13.94M | 9.5M | 6.79M | 3.24M | 651.43K | 1.95M | -3.6M | -1.96M | -402.07K | -2.41M | -1.21M | 5.98M | -3.56M | 1.1M | 3.65M | 1.26M | 1.32M | 1.03M | 1.05M | 1.14M | 540.27K | 8.71K | 164.5K | 700K | 200K | 500K | 1.4M |
| Operating Margin % | 9% | 7.51% | 4.52% | 5% | 7.63% | 6.74% | 5.96% | 3.95% | 1.21% | 3.15% | -7.44% | -3.22% | -0.57% | -2.22% | -0.95% | 3.99% | -4.32% | 1.29% | 3.47% | 2% | 3% | 2.88% | 3.67% | 4.36% | 2.45% | 0.04% | 0.66% | 3.23% | 1.27% | 3.88% | 10.14% |
| Operating Income Growth % | - | 121.95% | -6.83% | -37.2% | 46.83% | 39.93% | 109.41% | 397.52% | -66.67% | 154.33% | -83.68% | -387.13% | 83.3% | -98.13% | -120.33% | 267.66% | -424.26% | -69.92% | 190.79% | -4.98% | 28.75% | -2.31% | -7.94% | 111.46% | 6105.71% | -94.71% | -76.5% | 250% | -60% | -64.29% | 600% |
| EBITDA | 28.11M | 19.98M | 9.71M | 10.12M | 15.4M | 10.42M | 7.52M | 3.76M | 938.18K | 2.28M | -3.19M | -1.42M | -19.5K | -1.68M | -518.34K | 6.41M | -3.07M | 1.51M | 4.14M | 1.51M | 1.46M | 1.17M | 1.2M | 1.33M | 743.25K | 436.38K | 552.46K | 900K | 300K | 600K | 1.5M |
| EBITDA Margin % | 9.65% | 8.29% | 5.38% | 5.77% | 8.43% | 7.39% | 6.6% | 4.59% | 1.74% | 3.67% | -6.61% | -2.34% | -0.03% | -1.54% | -0.41% | 4.28% | -3.72% | 1.77% | 3.93% | 2.4% | 3.32% | 3.29% | 4.19% | 5.07% | 3.38% | 2.07% | 2.21% | 4.15% | 1.9% | 4.65% | 10.87% |
| EBITDA Growth % | 165.41% | 105.71% | -4.03% | -34.28% | 47.71% | 38.68% | 99.81% | 300.92% | -58.77% | 171.24% | -124.39% | -7198.86% | 98.84% | -223.51% | -108.09% | 308.68% | -303.28% | -63.52% | 174.02% | 3.33% | 24.67% | -2.27% | -9.77% | 78.95% | 70.32% | -21.01% | -38.62% | 200% | -50% | -60% | 400% |
| D&A (Non-Cash Add-back) | 1.91M | 1.87M | 1.55M | 1.36M | 1.45M | 926.1K | 728.63K | 520.3K | 286.75K | 320.74K | 403.72K | 535.22K | 382.56K | 729.96K | 696.48K | 429.48K | 494.91K | 410.84K | 484.83K | 253.89K | 139.31K | 145.34K | 148.33K | 187.56K | 202.99K | 427.68K | 387.96K | 200K | 100K | 100K | 100K |
| EBIT | 14.78M | 18.11M | 9.2M | 9.48M | 14.86M | 10.87M | 7.09M | 3.29M | 691.48K | 2.04M | -3.59M | -1.95M | -228.89K | -402.46K | -1.15M | 1.59M | 11.15M | 1.1M | -3.71M | 1.26M | 1.41M | 1.19M | 1.05M | 1.16M | 894.57K | 8.71K | 164.5K | 700K | 300K | 500K | 0 |
| Net Interest Income | -119.38K | 150.27K | -447.38K | -463.2K | -483.69K | -704.05K | -620.5K | -414.96K | -149.54K | -199.24K | -364.53K | -347.97K | -341.38K | -261.19K | -306.45K | -573.22K | -383.99K | -401.11K | -902.9K | -675.2K | -408.27K | -290.74K | -247.69K | -268.34K | -270.02K | -467.69K | -497K | 0 | -200K | 0 | -200K |
| Interest Income | 102.17K | 556.91K | 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 |
| Interest Expense | 221.55K | 406.64K | 447.38K | 463.2K | 483.69K | 704.05K | 620.5K | 414.96K | 149.54K | 199.24K | 364.53K | 347.97K | 341.38K | 261.19K | 306.45K | 573.22K | 383.99K | 401.11K | 902.9K | 675.2K | 408.27K | 290.74K | 247.69K | 268.34K | 270.02K | 467.69K | 497K | 0 | 200K | 0 | 200K |
| Other Income/Expense | 606.58K | 614.29K | 590.3K | 264.58K | 435K | 664.71K | -313.5K | -365.2K | 66.92K | -114.59K | -360.34K | -339.95K | -166.18K | -2.04M | -246.36K | -4.34M | 10.48M | -397.29K | -990.59K | -99.66K | -308.26K | -108.87K | -224.19K | -1.9M | 492.92K | -449.06K | 333.45K | -200K | 400K | 1.2M | 100K |
| Pretax Income | 26.81M | 18.72M | 8.75M | 9.02M | 14.38M | 10.16M | 6.47M | 2.88M | 718.36K | 1.84M | -3.96M | -2.3M | -569.26K | -2.55M | -1.46M | 1.01M | 4.88M | 702.07K | -5.52M | 1.16M | 931.05K | 754.73K | 827.52K | -760.72K | 657.89K | -440.35K | 497.94K | 500K | 600K | 1.7M | 1.5M |
| Pretax Margin % | 9.21% | 7.77% | 4.85% | 5.15% | 7.87% | 7.21% | 5.68% | 3.51% | 1.33% | 2.97% | -8.19% | -3.77% | -0.8% | -2.35% | -1.14% | 0.68% | 5.91% | 0.82% | -5.25% | 1.84% | 2.11% | 2.12% | 2.89% | -2.9% | 2.99% | -2.09% | 1.99% | 2.3% | 3.8% | 13.18% | 10.87% |
| Income Tax | 939.38K | 4.13M | 1.99M | 1.87M | -1.31M | 112.81K | 89.62K | 95.12K | 60.67K | 1.22K | 47.92K | 31.8K | 65.42K | 110.17K | 160.48K | 573.22K | -780.35K | 221.46K | 759.78K | 281.23K | 319.81K | 269.54K | 227.8K | -340.93K | 228.58K | -115.79K | 246.26K | 200K | 200K | 500K | 0 |
| Effective Tax Rate % | 3.5% | 22.04% | 22.77% | 20.77% | -9.11% | 1.11% | 1.38% | 3.31% | 8.45% | 0.07% | -1.21% | -1.38% | -11.49% | -4.32% | -10.98% | 56.56% | -15.98% | 31.54% | -13.76% | 24.3% | 34.35% | 35.71% | 27.53% | 44.82% | 34.74% | 26.29% | 49.46% | 40% | 33.33% | 29.41% | 0% |
| Net Income | 20.94M | 14.6M | 6.76M | 7.15M | 15.69M | 10.05M | 6.38M | 2.78M | 657.68K | 1.84M | -4.01M | -2.25M | -4.52M | -2.66M | -2.31M | 1.01M | 5.66M | -313.69K | -7.85M | 875.96K | 611.25K | 485.19K | 350.83K | -524.14K | 429.31K | -324.56K | 251.68K | 300K | 400K | 1.1M | 1.4M |
| Net Margin % | 7.19% | 6.06% | 3.75% | 4.08% | 8.59% | 7.13% | 5.6% | 3.39% | 1.22% | 2.97% | -8.29% | -3.7% | -6.39% | -2.45% | -1.81% | 0.68% | 6.86% | -0.37% | -7.46% | 1.39% | 1.39% | 1.36% | 1.22% | -2% | 1.95% | -1.54% | 1.01% | 1.38% | 2.53% | 8.53% | 10.14% |
| Net Income Growth % | 185.22% | 116.03% | -5.46% | -54.44% | 56.13% | 57.41% | 129.58% | 322.8% | -64.23% | 145.9% | -77.85% | 50.21% | -70.12% | -15.06% | -328.03% | -82.1% | 1905.38% | 96% | -996.29% | 43.31% | 25.98% | 38.3% | 166.93% | -222.09% | 232.27% | -228.96% | -16.11% | -25% | -63.64% | -21.43% | - |
| Net Income (Continuing) | 20.94M | 14.6M | 6.76M | 7.15M | 15.69M | 10.05M | 6.38M | 2.78M | 657.68K | 1.84M | -4.01M | -2.33M | -635.69K | -720.82K | -1.62M | 1.6M | 10.74M | 480.62K | -5.68M | 875.96K | 611.25K | 485.19K | 599.72K | -407.04K | 706.3K | -324.56K | 251.68K | 300K | 400K | 1.2M | 1.4M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 78.02K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 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 | 0 | 0 |
| EPS (Diluted) | 0.81 | 0.56 | 0.26 | 0.27 | 0.58 | 0.37 | 0.24 | 0.10 | 0.02 | 0.07 | -0.30 | -0.18 | -0.37 | -0.22 | -0.19 | 0.09 | 0.96 | -0.03 | -0.81 | 0.09 | 0.12 | 0.10 | 0.07 | -0.11 | 0.09 | -0.07 | 0.05 | 0.06 | 0.09 | 0.23 | 0.23 |
| EPS Growth % | 187.95% | 115.38% | -3.7% | -53.45% | 56.76% | 54.17% | 140% | 311.52% | -65.29% | 123.33% | -66.67% | 51.35% | -68.18% | -15.79% | -311.11% | -90.63% | 3109.4% | 96.06% | -1000% | -25% | 20% | 42.86% | 163.64% | -222.22% | 236.57% | -231.8% | -16.67% | -33.33% | -60.87% | 0% | 2200% |
| EPS (Basic) | - | 0.56 | 0.26 | 0.27 | 0.58 | 0.37 | 0.24 | 0.10 | 0.02 | 0.07 | -0.30 | -0.18 | -0.37 | -0.22 | -0.19 | 0.09 | 1.04 | -0.03 | -0.81 | 0.10 | 0.12 | 0.10 | 0.07 | -0.11 | 0.09 | -0.07 | 0.05 | 0.07 | 0.10 | 0.25 | 0.24 |
| Diluted Shares Outstanding | 25.96M | 25.98M | 26.18M | 26.84M | 26.94M | 26.94M | 26.94M | 26.94M | 27.02M | 27.44M | 13.21M | 12.28M | 12.22M | 12.18M | 12.18M | 11.2M | 11.22M | 9.84M | 9.71M | 8.28M | 5.01M | 5.04M | 5.14M | 4.91M | 4.92M | 4.92M | 5.04M | 5M | 4.44M | 4.78M | 5.83M |
| Basic Shares Outstanding | 25.96M | 25.98M | 26.18M | 26.82M | 26.92M | 26.92M | 26.92M | 26.92M | 26.92M | 26.92M | 13.21M | 12.26M | 12.22M | 12.01M | 12.18M | 10.83M | 10.34M | 9.84M | 9.71M | 7.51M | 4.91M | 4.91M | 4.91M | 4.91M | 4.91M | 4.92M | 4.68M | 4.29M | 4M | 4.4M | 5.83M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Commodity price volatility exposure
According to the latest quarterly financial data, Envela achieved a remarkable 103.9% year-over-year revenue growth in 2026Q1, signaling a significant departure from the more modest growth rates observed in previous periods and suggesting a potential step-change in the company's market penetration within its core business segments.
The dramatic surge in top-line performance appears to indicate that the company's pivot toward a broader circular economy platform is gaining substantial traction. Investors should monitor whether this acceleration is driven by sustainable volume increases in the ITAD segment or if it remains highly sensitive to cyclical precious metal price appreciation.
As reported in recent income statements, Envela's gross margin has trended downward from 25.9% in 2024Q1 to 21.0% in 2026Q1, reflecting the inherent trade-offs of scaling high-volume bullion and electronics recycling operations where competitive pricing pressure often limits the ability to maintain premium spreads.
The contraction in gross margins suggests that the company's rapid revenue expansion is likely being fueled by lower-margin, high-turnover inventory. This shift warrants investigation into whether the company is sacrificing pricing power to capture market share in the competitive ITAD and precious metals trading landscape.
Based on the provided financial figures, Envela has demonstrated impressive operating leverage, with operating income expanding from $1.6M in 2023Q4 to $11.2M in 2026Q1, while SG&A expenses remained relatively contained, suggesting that the company is successfully scaling its infrastructure without a proportional increase in overhead costs.
The ability to grow operating income significantly faster than operating expenses implies that the company's current business model benefits from economies of scale. This trend suggests that management has successfully optimized its corporate footprint, though it remains to be seen if this efficiency can be maintained during periods of lower revenue growth.
Financial statements indicate that Envela's net income growth has been achieved without the use of stock-based compensation, as evidenced by the consistent $0 reported in SBC across the observed periods, which enhances the quality of earnings compared to peers that rely heavily on equity-based incentives.
The absence of stock-based compensation suggests a disciplined approach to capital management and a focus on cash-based profitability. This transparency provides a clearer view of the company's true operational performance, as earnings are not being artificially inflated or obscured by non-cash accounting adjustments.
Quick answers to the most common questions about buying ELA stock.
For fiscal year 2025, Envela Corporation (ELA) reported total revenue of $241.0M. This represents a 1646.5% increase compared to $13.8M in 1996.
Envela Corporation (ELA) is profitable, generating $14.6M in net income for the fiscal year ending 2025 with a net profit margin of 6.1%.
Envela Corporation (ELA) reported an operating income of $18.1M, resulting in an operating profit margin of 7.5%. This margin reflects the operational efficiency of the business before interest and taxes.
Envela Corporation (ELA) generated $53.9M in gross profit for the year, representing a gross profit margin of 22.4%. This demonstrates the company's core pricing power and production efficiency.