Quarterly ResultMay 6, 2026, 04:09 PM
Envela Q1 Sales +103.9% to $98.4M; Net Income +254.6% to $8.8M
AI Summary
Envela Corp reported exceptionally strong financial results for the first quarter ended March 31, 2026. Sales more than doubled, increasing by 103.9% to $98.4 million compared to the prior year. This significant revenue growth translated into a substantial increase in profitability, with net income surging by 254.6% to $8.8 million and basic and diluted earnings per share rising to $0.34. The company also demonstrated robust cash generation, with net cash provided by operating activities reaching $21.2 million, and a healthy balance sheet with cash and cash equivalents growing to $38.6 million.
Key Highlights
- Sales increased by 103.9% to $98.4 million for the three months ended March 31, 2026.
- Net income surged by 254.6% to $8.8 million for the three months ended March 31, 2026.
- Basic and diluted earnings per share rose by 240% to $0.34 for the three months ended March 31, 2026.
- Gross margin grew by 72.3% to $20.6 million for the three months ended March 31, 2026.
- Operating income soared by 259.5% to $11.2 million for the three months ended March 31, 2026.
- Net cash provided by operating activities was $21.2 million, up from $1.1 million year-over-year.
- Cash and cash equivalents increased to $38.6 million as of March 31, 2026, from $18.2 million at December 31, 2025.
- Total assets grew to $108.0 million as of March 31, 2026, from $96.0 million at December 31, 2025.