Crane Nxt, Co. · NYSE:CXT
Crane Nxt — Q4 2025 Earnings Presentation
28 slides from Crane Nxt's earnings presentation, Feb 12, 2026
Slide 1: Fourth Quarter & Full Year 2025 Financial Results
FOURTH QUARTER & FULL YEAR 2025 FINANCIAL RESULTS February 12, 2026
Slide 2: Forward-Looking Statements – Disclaimer
FORWARD-LOOKING STATEMENTS – DISCLAIMER This presentation contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include all statements that are not historical statements of fact and those regarding the Company's intent, belief, or expectati
Slide 3: Continued to Execute Strategy in 2025
CONTINUED TO EXECUTE STRATEGY IN 2025 Q4 2025 FY 2025 • Accelerating revenue growth while maintaining strong margins and free cash flow ~20% ~11% Sales Growth Sales Growth • Building momentum in key strategic areas ̶ Awarded 20 new currency denominations utilizing micro-optics technology in 2025 ~25
Slide 4: Q4 2025 Results Summary
Q4 2025 RESULTS SUMMARY Q4 2025 Q4 2024 • Sales growth of ~20%, driven by $ Millions, except per-share amounts GAAP Adjusted1 GAAP Adjusted1 acquisitions and continued strong performance in Currency Sales $477 $477 $399 $399 Segment • Adj. Segment Operating Profit $100 $123 $87 $108 Operating Profit
Slide 5: Full Year 2025 Results Summary
FULL YEAR 2025 RESULTS SUMMARY FY 2025 FY 2024 • Sales growth of ~11% includes a partial $ Millions, except per-share GAAP Adjusted1 GAAP Adjusted1 year of De La Rue Authentication amounts (May-December) Sales $1,657 $1,657 $1,487 $1,487 Segment • Core sales1 growth of ~1% reflects $319 $407 $339 $4
Slide 6: CPI – Q4 Results
CPI – Q4 RESULTS GAAP Adjusted1 $ Millions Q4 2025 Q4 2024 Change Q4 2025 Q4 2024 Change Sales $ 216 $ 215 0.5% $ 216 $ 215 0.5% Segment Operating Profit 62 50 25.2% 70 62 12.0% Segment Operating Margin 28.8% 23.1% 570bps 32.4% 29.0% 340bps Backlog 113 146 (22.2%) 113 146 (22.2%) Q4 2025 • Flat core
Slide 7: CPI – FY Results
CPI – FY RESULTS GAAP Adjusted1 $ Millions FY 2025 FY 2024 Change FY 2025 FY 2024 Change Sales $ 847 $ 873 (3.0%) $ 847 $ 873 (3.0%) Segment Operating Profit 222 228 (3.0%) 249 260 (4.2%) Segment Operating Margin 26.2% 26.2% 0bps 29.4% 29.8% (40bps) Backlog 113 146 (22.2%) 113 146 (22.2%) FY 2025 •
Slide 8: Security and Authentication Technologies – Q4 Results
SECURITY AND AUTHENTICATION TECHNOLOGIES – Q4 RESULTS GAAP Adjusted1 $ Millions Q4 2025 Q4 2024 Change Q4 2025 Q4 2024 Change Sales $ 261 $ 184 41.6% $ 261 $ 184 41.6% Segment Operating Profit 38 37 0.8% 54 46 17.6% Segment Operating Margin 14.4% 20.3% (590bps) 20.5% 24.7% (420bps) Backlog 379 248 5
Slide 9: SAT Q4 Year-over-Year Operating Profit Bridge
SAT Q4 YEAR-OVER-YEAR OPERATING PROFIT BRIDGE • Strong volume growth partially offset by unfavorable mix ~$54M • Increased manufacturing costs in Currency to meet international ~$10M ~($12M) ~$6M demand ~$46M • Unfavorable FX cost impact from ~($4M) ~$11M SEK and EUR ~($3M) • Additional investments
Slide 10: Security and Authentication Technologies – FY Results
SECURITY AND AUTHENTICATION TECHNOLOGIES – FY RESULTS GAAP Adjusted1 $ Millions FY 2025 FY 2024 Change FY 2025 FY 2024 Change Sales $ 810 $ 614 32.0% $ 810 $ 614 32.0% Segment Operating Profit 97 111 (12.2%) 158 143 10.4% Segment Operating Margin 12.0% 18.1% (610bps) 19.4% 23.2% (380bps) Backlog 379
Slide 11: Strong Balance Sheet and Capital Structure
STRONG BALANCE SHEET AND CAPITAL STRUCTURE Net leverage1 ratio of ~2.3x (December 31, 2025) ~$1,170M ~$125M • Euro denominated Term Loan B of Revolver ~$500M secured in Q4 2025 ̶ ~$130M drawn to fund initial stake ~$130M in Antares Vision in Q4 Term Loan B Denominated in EUR ~$900M ̶ Expect to draw
Slide 12: 2026 Guidance
2026 GUIDANCE ($ Millions) Full Year • Sales growth range reflects: Guidance ̶ SAT growth driven by ~MSD core growth in Sales Growth1 +4% to +6% Currency and Authentication; includes a full SAT segment sales growth ~HSD year contribution from De La Rue acquisition CPI segment sales growth ~Flat ̶ CP
Slide 13: 2026 Segment Outlook and Phasing
2026 SEGMENT OUTLOOK AND PHASING Q1 Full Year Adj. EBITDA Adj. EBITDA Sales Margin1 Sales Margin1 Comments • Q1 growth driven by De La Rue acquisition and full quarter of US Currency operations ~45% to 50% • ~120 bps of adj. EBITDA margin1 expansion SAT ~20% ~HSD ~25% growth from Authentication syne
Slide 14: Investing to Capture Organic Growth Opportunity in International Currency
INVESTING TO CAPTURE ORGANIC GROWTH OPPORTUNITY IN INTERNATIONAL CURRENCY Design Substrate Micro-Optics Banknote Services Manufacturing Production Printing 1 Productivity Increased 2 Staffing 3rd Party 3 Partnerships Capacity 4 Expansion • Increasing staffing to 24/7 • Increasi
Slide 15: Antares Vision Transaction Update
ANTARES VISION TRANSACTION UPDATE Step 1 (Q4 2025) Regulatory approvals received for initial investment Closed ~32% equity ownership Step 2 (Q1 2026) Additional regulatory approvals received • Launching mandatory public tender offer in February to all remaining shareholders • Expect tender to
Slide 16: Concluding Remarks
CONCLUDING REMARKS • Accelerating revenue growth while maintaining strong margins and free cash flow • Building momentum in strategic growth areas − US Currency on-track for launch of new $10 bill − International Currency demand exceeding our expectations; investing in increased capacity − Authentic
Slide 17: Q&A
Q&A CRANE
Slide 18: Appendix
APPENDIX CRANE NO T
Slide 19: 2026 Sales Guidance – Organic vs. Total
2026 SALES GUIDANCE – ORGANIC VS. TOTAL1 Crane NXT Sales Core2 FX Acquisitions Total CPI 0% to +1% 0% to 0% 0% to +1% SAT +2% to +4% +1% to +3% +4% to +5% +9% to +10% Total Crane NXT +1% to +3% 0% to +2% +1% to +3% +4% to +6% 1 Figures presented represent approximations and do not sum due to roundin
Slide 20: SAT 2025 to 2026 EBITDA Bridge
SAT 2025 TO 2026 EBITDA BRIDGE ~$229M ~$14M ~($4M) ~($2M) ~($4M) ~$5M ~$21M ~$199M 24.6% 25.8% Adj. EBITDA1 % 2025 Volume / Currency FX Currency Authentication Authentication 2026 Adj. EBITDA1 Mix Added Investments Acquisitions Synergies Adj. EBITDA1 Mfg. Costs 1 Please see the appendix for Non-GAAP
Slide 21: Non-GAAP Explanations
NON-GAAP EXPLANATIONS Crane NXT reports its financial results in accordance with U.S. generally accepted accounting principles (“GAAP”). This press release includes certain non-GAAP financial measures, including Adjusted operating profit, Adjusted operating margin, Adjusted EPS, free cash flow, and
Slide 22: Non-GAAP Explanations
NON-GAAP EXPLANATIONS The Company's management believes that each of the following non-GAAP measures provides useful information to investors regarding the Company’s financial conditions and operations: • "Adjusted operating profit" and "Adjusted operating margin" add back to operating profit specia
Slide 23: Non-GAAP Explanations
NON-GAAP EXPLANATIONS • References to "core," such as "core sales," exclude currency effects and, where applicable, the first-year impacts of acquisitions and divestitures. Management believes that non-GAAP financial measures that exclude these items provide investors with an alternative metric that
Slide 24: Non-GAAP Financial Measures for Crane NXT, Co.
NON-GAAP FINANCIAL MEASURES FOR CRANE NXT, CO. Non-GAAP Financial Measures (unaudited, in millions except per share data) Totals may not sum due to rounding. *Please see the Non-GAAP Financial Measures definitions in this release. 1 Primarily related to stock-based compensation issued to senior mana
Slide 25: Non-GAAP Financial Measures by Segment, Fourth Quarter
NON-GAAP FINANCIAL MEASURES FOR CRANE NXT, CO. Non-GAAP Financial Measures by Segment, Fourth Quarter (unaudited, in millions) Totals may not sum due to rounding. 25
Slide 26: Non-GAAP Financial Measures by Segment, Full Year
NON-GAAP FINANCIAL MEASURES FOR CRANE NXT, CO. Non-GAAP Financial Measures by Segment, Full Year (unaudited, in millions) Totals may not sum due to rounding. 26
Slide 27: Free Cash Flow, Net Leverage Ratio
NON-GAAP FINANCIAL MEASURES FOR CRANE NXT, CO. Free Cash Flow, Net Leverage Ratio (unaudited, in millions, except net leverage ratio) Please refer to the Non-GAAP Financial Measures tables in prior quarter releases and in this release.. 27
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