Business
Capstone Reports FY2025 Results and Guides to 54% Revenue Growth and 4x EBITDA Growth in 2026
FY2025 gross margin expands to 23% on $46.9M revenue; FY2026 guidance calls for $72.1M of revenue, ~$18.7M of gross profit (+73%), and a positive EBITDA
About this update from Capstone Holding Corp.
[{"type":"text","content":"\nFY2025 gross margin expands to 23% on $46.9M revenue; FY2026 guidance calls for $72.1M of revenue, ~$18.7M of gross profit (+73%), and a positive EBITDA run-rate starting in Q2\n\n\n NEW YORK--(BUSINESS WIRE)--\nCapstone Holding Corp. (NASDAQ: CAPS), a tech-enabled building products distribution platform, today announced financial and operating results for the fourth quarter and full year ended December 31, 2025.\n\n\nThe Company closed FY2025 with ~$46.9 million in revenue and gross margin expanding to 23.0%, reflecting acquisition-driven scale and a higher-margin product mix. For FY2026, Capstone expects revenue to rise 54% to $72.1 million, gross margin to reach 26%, and EBITDA to increase more than fourfold to approximately $3.8 million, driven by operating leverage, product expansion, and geographic expansion.\n\n\nFinancial Summary\n\n\n\n\n \n\n\n\n\n\n\nFY2025\n\n\n\n\n\n\nFY2026 Guidance\n\n\n\n\n\n\nYoY Growth\n\n\n\n\n\n\n\n\nRevenue\n\n\n\n\n\n\n$46.9M\n\n\n\n\n\n\n$72.1M\n\n\n\n\n\n\n+54%\n\n\n\n\n\n\n\n\nGross Margin\n\n\n\n\n\n\n23.0%\n\n\n\n\n\n\n26.0%\n\n\n\n\n\n\n+13%\n\n\n\n\n\n\n\n\nGross Profit\n\n\n\n\n\n\n$10.8M\n\n\n\n\n\n\n$18.7M\n\n\n\n\n\n\n+73%\n\n\n\n\n\n\n\n\nEBITDA\n\n\n\n\n\n\n$0.9M\n\n\n\n\n\n\n$3.8M\n\n\n\n\n\n\n+322%\n\n\n\n\n\n\n\nIn FY2026, Capstone expanded from a single-subsidiary distributor to a nine-location platform spanning 38 U.S. states and Canada, completing two acquisitions that added approximately $26 million in annualized revenue. With integration substantially complete, the Company enters 2026 positioned to convert platform scale into earnings growth.\n\n\n“It was a transformational year for Capstone,” said Matthew Lipman, Chief Executive Officer. “Synergies from our recent acquisitions are enabling margin growth and operating leverage across the platform. With a full year of contributions from these assets, along with our product and geographic expansion, we expect 2026 to deliver a sharp increase in both revenue and EBITDA.”\n\n\nFull-Year 2025 Highlights:\n\n\n\nRevenue Growth: FY2025 revenue of ~$46.9 million reflects partial-year contributions from Carolina Stone (August close) and Canadian Stone Industries (December close), positioning the Company at ~$68 million in pro forma revenue entering 2026.\n\n\n\n\n\nMargin Expansion: Gross profit increased 12.8% year-over-year,...