Lakeland Industries, Inc. · NASDAQ:LAKE
Lakeland Industries — Investor Presentation (April 2025)
36 slides from Lakeland Industries's investor presentation, April 2025
Slide 1: Investor Presentation April 2025
Investor Presentation Place An Image Here April 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: Corporate Overview
Corporate Overview Lakeland Fire + Safety is a global manufacturer of personal protective equipment, apparel and accessories with a Head-to-Toe portfolio of brands that protect the world’s workers, first responders, and communities during the most critical situations NASDAQ: LAKE FY 2025 Revenue1 $1
Slide 4: Corporate Video
Corporate Video Play with solid fill Video link will open in web browser Protect Your People® 4
Slide 5: Mission-Critical Product Portfolio
Mission-Critical Product Portfolio FIRE INDUSTRIAL Products Products NFPA-certified Fire Turnout Gear Chemical Suits CE-certified Fire Turnout Gear PPE / Disposable Coveralls Pacific brand of safety helmets FR/AR Performance Wear Jolly brand of fire boots High Visibility Particulate Blocking Hoods J
Slide 6: Compelling Fire Services Growth Opportunities
Compelling Fire Services Growth Opportunities ✓ Fragmented global fire market - one player ✓ Inventory is simpler to manage: Build to fill with greater than 10% market share orders with little to no finished goods ✓ High-margin businesses with relatively low ✓ Early to mid-term synergies with acquir
Slide 7: Large Industrial Markets with Strong Tailwinds
Large Industrial Markets with Strong Tailwinds Key Industrial Market Dynamics ~$11 Billion Total Addressable Market with a Mid-to-High-Single-Digit Growth Rate2 Increasing Relevance of Safety And PPE • Increased development and enforcement of safety and environmental standards globally • Global acce
Slide 8: Lakeland Fire + Safety Strategic Priorities
Lakeland Fire + Safety Strategic Priorities • Investing resources in high growth geographies Building a Premier • Commitment to product line enhancements Global Fire Brand • Optimizing operations and sales channels Goal: to fortify its position as the leading full-service vendor for • Adding product
Slide 9: Head-to-Toe Global Fire Portfolio
Head-to-Toe Global Fire Portfolio Background + Product Portfolio Highlights Product Focus • Fire and emergency services helmets • Premium product line with a global reputation for safety and design Certification • CE & NFPA • Highly innovative and R&D driven organization Markets • Oceania, North Ame
Slide 10: Competitive Advantages
Competitive Advantages Owned, Global Manufacturing Base Geographically Diverse Sales Platform Provides the ability to rapidly scale-up production to Attractive opportunities for strategic products meet emergency demand, shift production between in key, diverse markets – the addition of Jolly, locati
Slide 11: Experienced Executive Management
Experienced Executive Management James M. Jenkins Roger D. Shannon Helena An President and Chief Executive Officer Chief Financial Officer Chief Operating Officer ▪ General Counsel and Vice President of Corporate ▪ 35+ years of experience in finance, strategy, ▪ 25 years of experience in procurement
Slide 12: Financial Highlights
Place An Image Here Financial Highlights Protect Your People® 12
Slide 13: Q4 & FY25 Financial Results
Q4 & FY25 FINANCIAL RESULTS Financial Highlights Three Months Ended Jan. 31 Year Ended Jan. 31 FY26 Guidance2 $ in Million 2025 2024 2025 2024 FY26 Revenue of $210M Revenue $46.6 $31.2 $167.2 $124.7 $220M Gross Margin 40.1% 35.9% 41.1% 41.1% FY26 Adjusted EBITDA Operating Expenses ($18.8) ($14.5) ($
Slide 14: Revenue Mix-Historical & Pro Forma with Acquisitions
Revenue Mix-Historical & Pro Forma with Acquisitions Lakeland Organic FY24 with full year Pacific Helmets, Jolly Scarpe, LHD Lakeland Organic FY24 Group and Veridian (pro forma) FY25 Revenue 5% 7% 7% USA USA 7% USA 13% 13% Europe Europe 8% Europe 36% 44% 41% Other N.A. 14% Other N.A. 8% Latin Americ
Slide 15: TTM Revenue and Adjusted EBITDA
TTM Revenue and Adjusted EBITDA 18 180 15 160 140 12 120 9 100 6 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 Dec-24 Jan-25 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 Dec-24 Jan-25 Revenue Adjusted EBITDA Adjusted EBITDA - Excluding FX Feb-24 May-2
Slide 16: Capital Markets Summary
Capital Markets Summary LAKE News Releases ▪ Reports Fiscal Fourth Quarter and Full Year 2025 Financial Results - 4/9/25 NASDAQ Listed ▪ Issues Shareholder Letter and Provides Corporate Update - 2/11/25 Shares Outstanding* 9.5 million ▪ Secures up to 12-year Renewal Contract with Fire and Emergency
Slide 17: Investment Highlights
Investment Highlights Strong FY2025 Net Sales Growth – Increased 34% to $167.2 Million High-Value, Strategic Product Line Growth, Led By Fire Services – Record Q4’25 Revenue Growth of 226% Near Term Strategy – Complete Head-to-Toe Global Fire Portfolio with closing of Veridian Acquisition – Largest
Slide 18: 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® 18
Slide 19: Appendix
APPENDIX Protect Your People® 19
Slide 20: Eagle Technical Products
Eagle Technical Products1 Enhances Lakeland’s Product Portfolio and Expands Geographical Reach Background & Product Portfolio Highlights Headquarters • Stockport, UK • Asset-light value chain provides potential in- sourcing synergy opportunities as well as Product Focus • Firefighter Suits & Apparel
Slide 21: Pacific Helmets
Pacific Helmets1 Enhances Lakeland’s Fire Service Offering with Helmets Background & Product Portfolio Highlights Headquarters • Whanganui, New Zealand • Premium product line with a global reputation for safety and design Product Focus • Fire and emergency services helmets • Highly innovative and R&
Slide 22: Jolly Scarpe
Jolly Scarpe1 Expands Lakeland’s Fire Service Portfolio with Boots Background & Product Portfolio Highlights Headquarters • Montebelluna, Italy • Premium product line with a global reputation for quality and design Product Focus • Fire, police, industrial, and military boots • Highly innovative and
Slide 23: LHD Group
LHD Group1 Enhances Lakeland’s Product Portfolio and Expands Geographical Reach Background and Product Portfolio Highlights Headquarters • Wesseling, Germany • Premium product line with a global reputation for quality and design Product Focus • Fire turnout gear, LHD Care cleaning & maintenance • Ge
Slide 24: LHD Care Services
LHD CARE SERVICES FEEL COMPLETELY SECURE WITH THE LHD CARE SYSTEM ✓ Elimination of carcinogenic substances in protective clothing by means of professional cleaning ✓ individually combinable service modules ✓ highest degree of flexibility in clothing management Protect Your People® 24
Slide 25: Veridian Fire Protective Gear
Veridian Fire Protective Gear1 Enhances Lakeland’s Product Portfolio and Expands Geographical Reach Background and Product Portfolio Highlights Headquarters • Des Moines, Iowa • Pre-established client base and product reputation Product Focus • Fire and rescue • Internationally-respected, premium pr
Slide 26: Q4 & FY25 Financial Summary
Q4 & FY25 Financial Summary THREE MONTHS ENDED TWELVE MONTHS ENDED January 31, January 31, 2025 2024 Variance 2025 2024 Variance Net sales $46,628 $31,239 49.3% $167,211 $124,688 34.1% Gross Margin 40.1% 35.9% 420bps 41.1% 41.1% 0bps Adjusted EBITDA excluding FX $6,110 $3,430 78.1% $17,355 $15,716 1
Slide 27: Non-GAAP Reconciliation – Q4 & FY25
Non-GAAP Reconciliation – Q4 & FY25 THREE MONTHS ENDED TWELVE MONTHS ENDED January 31, January 31, 2025 2024 2025 2024 Net Income to EBITDA Net income (loss) -$18,437 -$977 -$18,075 $5,425 Interest expense $618 $30 $1,650 $52 Taxes -$397 $1,253 -$281 $3,930 Depreciation and amortization $1,756 $592
Slide 28: Non-GAAP Reconciliation – Q4 & FY25
Non-GAAP Reconciliation – Q4 & FY25 THREE MONTHS ENDED TWELVE MONTHS ENDED January 31, January 31, 2025 2024 2025 2024 Adjusted EBITDA Margin Adjusted EBITDA $5,110 $1,770 $15,043 $11,977 Divided by net sales $46,628 $31,239 $167,211 $124,688 Adjusted EBITDA Margin 11.0% 5.7% 9.0% 9.6% Adjusted EBIT
Slide 29: Non-GAAP Reconciliation – Q4 2025
Non-GAAP Reconciliation – Q4 2025 THREE MONTHS ENDED THREE MONTHS ENDED January 31, October 31, 2025 2024 Adjusted Operating Expenses Operating Expenses $18,839 $17,753 Depreciation and amortization -$682 -$722 Equity Compensation -$476 -$455 Monterrey -$352 -$447 Acquisition Expenses -$1,528 -$497
Slide 30: Fiscal 2025 Fourth Quarter Financial Highlights
Fiscal 2025 Fourth Quarter Financial Highlights Net Sales Adjusted EBITDA & Gross Margin Net Income Adjusted EBITDA Margin $46.6 $6.1 40.1% -$1.0 $5.1 35.9% $31.2 13.1% 11.0 $1.8 5.7% -$18.4 2024Q4 2025Q4 2024Q4 2025Q4 2024Q4 2025Q4 2024Q4 2025Q4 2025 Q4 Excl. FX • Gross margin increased 420 bps to
Slide 31: Fiscal 2025 Financial Highlights
Fiscal 2025 Financial Highlights Net Sales Adjusted EBITDA & Gross Margin Net Income Adjusted EBITDA Margin $167.2 $5.4 $17.4 41.1% 41.1% $15.0 $124.7 $12.0 10.4% 9.0% 9.6% -$18.1 2024 2025 2024 2025 2024 2025 2024 2025 2025 Excl. FX • Gross margin at 41.1% driven • Net loss of $18.1 million, driven
Slide 32: FQ4 Gross Margin and Adjusted EBITDA Bridge
FQ4 Gross Margin and Adjusted EBITDA Bridge GROSS MARGIN % ADJUSTED EBITDA $2.0M 4.3% 4.2% $1.0M $6.1M 5.8% -5.3% 40.1% $0.5M $5.1M 35.9% -4.7% $2.9M -$1.8M -$0.2M $1.8M 2024Q4 Inventory Organic Profit in Acquired Manufacturing 2025Q4 2024Q4 Organic Acquired Profit Manuf. SG&A 2025Q4 FX 2025Q4 Write
Slide 33: FY25 Gross Margin and Adjusted EBITDA Bridge
FY25 Gross Margin and Adjusted EBITDA Bridge GROSS MARGIN % ADJUSTED EBITDA 4.3% $1.4M $0.4M 1.6% $10.0M 41.1% -3.7% 41.1% -0.8% -1.4% -$3.3M $2.3M $17.4M $15.0M -$5.4M $12.0M 2024 GM Inventory Organic Acquired Manufacturing Freight 2025 2024 Organic Acquired Profit Manuf. SG&A 2025 FX 2025 Write-of
Slide 34: Q4-FY25 Balance Sheet
Q4-FY25 Balance Sheet* 2025Q4 2024Q4 Variance 2025Q4 2024Q4 Variance Cash and cash equivalents 17.5 25.2 (7.7) Accounts Payable 15.7 7.4 8.4 Accounts Receivable 27.6 19.2 8.4 Accrued Compensation, Benefits & Expenses 12.6 6.4 6.2 Inventories 82.7 51.3 31.5 Income tax payable 2.0 1.5 0.5 Prepaid VAT
Slide 35: Q4-FY25 Cash Flow
Q4-FY25 Cash Flow 2025Q4 2024Q4 Variance 2025Q4 2024Q4 Variance Net (loss) income (18.1) 5.4 (23.5) Purchases of property and equipment (1.5) (2.1) 0.5 Deferred income taxes (4.1) (0.8) (3.3) Proceeds from sale of fixed assets - 4.6 (4.6) Depreciation and amortization 4.4 2.1 2.2 Equity & Convertibl
Slide 36: Inventory
Inventory 82.7 Organic Inventory 72.7 27.9 28.7 28.5 67.9 27.2 26.4 25.2 24.6 24.8 23.3 23.5 56.1 51.3 0.5 0.8 1.4 1.4 1.2 2024Q4 2025Q1 2025Q2 2025Q3 2025Q4 2024Q4 2025Q1 2025Q2 2025Q3 2025Q4 Organic Pacific Helmets Jolly Scarpe LHD Veridian Finished Goods Raw Materials ➢ Q4-FY25 Lakeland inventory
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