Lakeland Industries, Inc. · NASDAQ:LAKE
Lakeland Industries — Q2 2026 Earnings Presentation
17 slides from Lakeland Industries's earnings presentation, Sep 9, 2025
Slide 1: Fiscal Second Quarter 2026 Financial Results
Fiscal Second Quarter 2026 Financial Results Place An Image Here Conference Call September 9, 2025 NASDAQ: LAKE Protect Your People® 1
Slide 2: Safe Harbor & Non-GAAP Statements
Safe Harbor & Non-GAAP Statements “Safe Harbor” Statement Under the Private Securities Litigation Reform Act of 1995 This presentation contains estimates, predictions, opinions, goals and other “forward-looking statements” as that phrase is defined in the Private Securities Litigation Reform Act of
Slide 3: Agenda: On the Call Today
Agenda: On the Call Today: COMPANY UPDATES FINANCIAL RESULTS KEY TAKEAWAYS Q&A CLOSING SUMMARY James M. Jenkins Roger D. Shannon President, Chief Executive Officer and Chief Financial Officer and Executive Chairman Secretary Protect Your People® 3
Slide 4: Q2 2026 Operational & Business Updates
Q2 2026 Operational & Business Updates Net sales increased $14.0 million, or 36%, to a record $52.5 million, Tariff Environment led by a 113% increase in Fire Services products • Q2’26 reflected the impact of tariff uncertainty and associated mitigation strategies to build inventory U.S. net sales i
Slide 5: Q2 2026 Financial Results
Q2 2026 FINANCIAL RESULTS Q2-FY26 Revenue by Product Financial Highlights and Geography Three Months Ended Jul. 31 6% $ in Million 2025 2024 8% USA 7% Europe Revenue $52.5 $38.5 42% Other N.A. 8% Adjusted Gross Margin1 37.4% 41.1% Asia Latin America Adjusted Operating Expenses1 14.6 13.2 29% Other F
Slide 6: Q2 2026 Financial Highlights
Q2 2026 Financial Highlights Sales revenue $52.5M Adjusted Operating Expenses $14.6M 15.9 +10% 52.5 +12% 14.3 +6% 13.7 -4% 14.6 -8% 45.8 +19% 46.6 +2% 46.7 +0% 13.2 2.4 38.5 10.5 1.0 1.5 1.4 2.2 7.1 10.1 9.9 1.5 12.2 12.9 12.3 13.5 12.4 37.0 38.6 36.5 36.9 42.0 2025Q2 2025Q3 2025Q4 2026Q1 2026Q2 202
Slide 7: TTM Revenue and Adjusted EBITDA excluding FX
TTM Revenue and Adjusted EBITDA excluding FX REVENUE ADJUSTED EBITDA excluding FX $191.6M $17.4M $16.5M $177.6M $14.5M $14.7M $14.1M $167.2M $151.8M $137.7M Jul Oct Jan Apr Jul Jul Oct Jan Apr Jul 2024 2024 2025 2025 2025 2024 2024 2025 2025 2025 Protect Your People® 7
Slide 8: Gross Margin and EBITDA Bridge Q2-FY26 vs Q2-FY25
Gross Margin and EBITDA Bridge. Q2-FY26 vs Q2-FY25 ADJUSTED GROSS MARGIN % ADJUSTED EBITDA excluding FX $1.3M 41.1% 2.5% -0.8% 37.4% -$0.6M -2.3% -1.2% $1.3M -1.9% $2.6M $5.1M -$2.0M -$0.2M $2.7M 2025Q2 Acquired Profit Inventory Tariffs Increased 2026Q2 2025Q2 Organic Inorganic Profit Tariffs Increa
Slide 9: Revenue Mix – YTD FY26 and Historical
Revenue Mix – YTD FY26 and Historical Lakeland FY24 Lakeland FY25 Lakeland Q2-FY26 YTD USA USA 6% USA 8% 9% 9% Europe Europe Europe 7% 43% 13% 13% 36% 44% Other N.A. Other N.A. Other N.A. 8% 11% 8% Asia Asia Asia 9% Latin America 11% Latin America Latin America 27% 13% 25% Other Foreign Other Foreig
Slide 10: Q2 2026 Balance Sheet and Cash Flow
Q2 2026 Balance Sheet and Cash Flow Balance Sheet 7/31/2025 1/31/2025 Variance Cash Flow 2026Q2 2025Q2 Variance Cash and cash equivalents 17.7 17.5 0.2 Adjustments to reconcile to net (loss) income (4.9) 1.9 (6.8) Accounts Receivable 30.9 27.6 3.3 Accounts receivable (2.6) 0.5 (3.1) Inventories 90.2
Slide 11: Q2 2026 Inventory Trends
Q2 2026 Inventory Trends Inventory Organic Inventory Quarter over Quarter 90.2 Finished Goods vs Raw Materials 85.8 82.7 39.3 6.4 37.2 6.6 36.6 72.7 7.2 9.0 67.9 8.4 33.2 33.4 6.5 32.2 7.0 31.0 30.9 31.0 6.4 29.0 70.8 74.8 65.7 69.0 61.5 1.5 1.6 1.5 1.4 2.1 2025Q2 2025Q3 2025Q4 2026Q1 2026Q2 2025Q2
Slide 12: Closing Summary
Closing Summary Record Q2-FY26 Net Sales Growth - Increased 36% to $52.5 million Near Term Strategy Navigating the continued challenges from evolving tariff environment Growing top-line revenue in fire services and industrial verticals Implementing operating and manufacturing efficiencies to achieve
Slide 13: www.lakeland.com
NASDAQ: LAKE Company Investor Relations 1525 Perimeter Parkway Chris Tyson Suite 325 MZ Group Huntsville, AL 35806 949-491-8235 LAKE@mzgroup.us www.lakeland.com Protect Your People® 13
Slide 14: Non-GAAP Reconciliation – Gross Profit and Margin
Non-GAAP Reconciliation – Gross Profit and Margin 2026Q2 2026Q1 2025Q4 2025Q3 2025Q2 Adjusted Gross Profit Gross Profit $18,818 $15,644 $18,694 $18,560 $15,235 Depreciation and amortization 306 320 1,074 505 599 Amortization of Step-up in Inventory 406 447 - - - ERP Project 100 49 - - - Adjusted Gro
Slide 15: Non-GAAP Reconciliation – Operating Expenses
Non-GAAP Reconciliation – Operating Expenses 2026Q2 2026Q1 2025Q4 2025Q3 2025Q2 Adjusted Operating Expenses Operating Expenses $19,283 $20,278 $18,839 $17,753 $16,826 Depreciation and amortization (962) (817) (682) (722) (546) Equity Compensation (1,411) (329) (476) (455) (428) Earnout Revaluation -
Slide 16: Non-GAAP Reconciliation – EBITDA
Non-GAAP Reconciliation – EBITDA 2026Q2 2026Q1 2025Q4 2025Q3 2025Q2 EBITDA to Adjusted EBITDA excluding FX EBITDA $841 ($3,390) $1,716 $1,950 ($281) Amortization of step-up in inventory basis 406 447 - - - Stock Compensation 1,411 329 476 455 428 Other Income (38) (106) (105) 84 (165) Monterrey 499
Slide 17: Non-GAAP Reconciliation – EBITDA Margin excluding FX
Non-GAAP Reconciliation – EBITDA Margin excluding FX 2026Q2 2026Q1 2025Q4 2025Q3 2025Q2 Adjusted EBITDA Margin excluding FX Adjusted EBITDA excluding FX $5,056 $602 $6,110 $4,726 $2,659 Divided by net sales 52,496 46,746 46,628 45,761 38,512 Adjusted EBITDA excluding FX Margin 9.6% 1.3% 13.1% 10.3%