Star Equity Holdings, Inc. · NASDAQ:STRR
Star Equity — Q1 2026 Earnings Presentation
19 slides from Star Equity's earnings presentation, May 12, 2026
Slide 1: A Diversified Holding Company
A Diversified Holding Company Creating Shareholder Value through Organic Common Stock: Series A 10% Preferred Stock: Growth, Acquisitions, and Share Repurchases Nasdaq: STRR Nasdaq: STRRP Q1 2026 Earnings Call May 11, 2026 1 www.starequity.com
Slide 2: Forward-Looking Statements
Forward-Looking Statements “Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: This presentation contains statements that the Company believes to be “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E o
Slide 3: Q1 2026: Consolidated Financial Results
Q1 2026: Consolidated Financial Results US$ In Millions, except EPS '+ / - (1) Q1 2026 Q1 2025 (5) Revenue + 8% $50.1 $46.5 Gross Profit + —% $20.6 $20.5 Adjusted SG&A(2) (3) + 3% $23.2 $22.5 Adjusted EBITDA(4) - (39)% $(1.6) $(1.2) Net Income (Loss) attributable to - (17)% $(4.4) $(3.7) common shar
Slide 4: Corporate Cost Savings
Corporate Cost Savings (1) Please reference the slides in the Appendix of this presentation for a reconciliation of this non-GAAP measure. (2) Pro forma Building Solutions, Energy Services, and Investments results for the full first quarter of 2025. Alliance Drilling Tools was acquired by Star Opera
Slide 5: Q1 2026 Cash Flow Summary
Q1 2026 Cash Flow Summary USSin ons Net income (loss) $ (3.8) $ (1.8) Total Depreciation and amortization 0.9 0.3 Provision for expected credit losses 01 0.0 Provision for (benefits from) deferred income taxes (0.9) 0.0 Stock-based compensation 0.5 0.4 Non-cash interest income (0.2) - Gain on sale-l
Slide 6: Balance Sheet: Selected Items
Balance Sheet: Selected Items US$ In Millions 3/31/2026 12/31/2025 Selected Assets Cash $8.1 $10.3 Restricted Cash $2.2 $3.1 Accounts Receivable $32.8 $35.2 Stockholders’ Equity Stockholders' Equity $61.0 $65.7 Working Capital Current Assets $58.1 $62.5 Current Assets ex-cash $50.0 $52.2 Current Lia
Slide 7: Business Divisions
Building Solutions Division Business Divisions (slides 8 – 9) Business Services Division Current businesses: (slides 10– 12) opportunities, financial highlights, and future Energy Services Division goals (slide 13) 7
Slide 8: Q1 2026: Building Solutions Financial Results
Q1 2026: Building Solutions Financial Results US$ In Millions '+ / - (1) Q1 2026 Q1 2025 (2) Revenue - (4)% $11.6 $12.1 Gross Profit - (44)% $1.6 $2.9 Adjusted EBITDA(3) - (387)% $(0.9) $0.3 (1) + / - indicates whether the caption was higher (+) or lower (-) than the comparison period. (2) Building
Slide 9: Building Solutions: Backlog
Building Solutions: Backlog Historical Backlog (USD in thousands) Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Beginning Backlog (1) $ 17,190 $ 27,913 $ 25,739 $ 20,032 $ 9,598 (+) New Orders $ 22,841 $ 18,223 $ 15,680 $ 7,541 $ 9,983 (-) Recognized Revenue $ 12,118 $ 20,398 $ 21,387 $ 17,975 $ 11,598 En
Slide 10: Q1 2026: Business Services Financial Results
Q1 2026: Business Services Financial Results US$ In Millions '+ / - (1) Q1 2026 Q1 2025 Revenue + 10% $35.0 $31.9 Gross Profit + 6% $17.4 $16.4 Adjusted EBITDA(2) - (250)% $(0.3) $0.2 (1) + / - indicates whether the caption was higher (+) or lower (-) than the comparison period. (2) Adjusted EBITDA
Slide 11: Q1 2026: Business Services Operating Dashboard
Q1 2026: Business Services Operating Dashboard (3) TTM New Business = $75.0M $13.7M in New Logo and $61.3M in renewals and expansions from our legacy clients over the past four quarters TTM Gross Profit = $71.8M Relatively stable (slight increase) over the past four quarters TTM Adjusted EBITDA Marg
Slide 12: Q1 2026: Business Services Regional Split
Q1 2026: Business Services Regional Split Revenue Gross Profit EMEA EMEA APAC Americas APAC Americas 12
Slide 13: Q1 2026: Energy Services Financial Results
Q1 2026: Energy Services Financial Results US$ In Millions '+ / - (1) Q1 2026 Q1 2025 (2) Revenue + 35% $3.5 $2.6 Gross Profit + 23% $1.5 $1.3 Adjusted EBITDA(3) + 111% $1.0 $0.5 (1) + / - indicates whether the caption was higher (+) or lower (-) than the comparison period. (2) Pro forma results for
Slide 14: Appendix
Appendix * Star Equity Holdings 14
Slide 15: Reconciliation of Non-GAAP Financials
Reconciliation of Non-GAAP Financials 1. Non-GAAP earnings before interest, income taxes, and depreciation and amortization (“EBITDA”) and non-GAAP earnings before interest, income taxes, depreciation and amortization, non-operating income (expense), stock-based compensation expense, and other non-r
Slide 16: Reconciliation of Non-GAAP Financial Measures Q1 2026 and 2025
Reconciliation of Non-GAAP Financial Measures Q1 2026 and 2025 Building Business Energy Q1 2026 Solutions Services Services Investments Corporate Total (3) Q1 2025 Business Services Corporate Total (3) Revenue, from external customers $ 11.6 $ 35.0 $ 3.5 $ 0.2 $ (0.2) $ 50.1 Revenue, from external c
Slide 17: Reconciliation of Non-GAAP Financial Measures Q1 2026 and 2025
Reconciliation of Non-GAAP Financial Measures Q1 2026 and 2025 Adjusted Net Loss (1) Per Diluted Share (1) Three Months Ended Three Months Ended March 31, 2026 March 31, 2026 Net loss $ (3.8) $ (1.01) Adjusted Net Loss (1) Per Diluted Share (1) Dividends on Series A perpetual preferred stock (0.6) (
Slide 18: Reconciliation of Pro Forma Non-GAAP Financial Measures
Reconciliation of Pro Forma (1) Non-GAAP Financial Measures Building Business Energy Q1 2025 Solutions Services Services Investments Corporate Total (3) Pro forma revenue, from external customers (1) $ 12.1 $ 31.9 $ 2.6 $ 0.2 $ (0.2) $ 46.5 Pro Forma Adjusted Pro Forma Per Pro forma gross profit (1)
Slide 19: Contact Us
Contact Us Jeff Eberwein CEO Rick Coleman COO Shawn Miles EVP – Finance admin@starequity.com Investor Relations The Equity Group Inc. Lena Cati Senior Vice President 212-836-9611 / lcati@theequitygroup.com 19