Star Equity Holdings, Inc. · NASDAQ:STRR
Star Equity — Q2 2026 Earnings Presentation
22 slides from Star Equity's earnings presentation, Aug 14, 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 Q2 2026 Earnings Call August 14, 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: Q2 2026: Consolidated Financial Results
Q2 2026: Consolidated Financial Results US$ In Millions, except EPS '+ / - (1) Q2 2026 Q2 2025 PF (5) Revenue - 7% $54.9 $59.2 Gross Profit - 8% $22.8 $24.9 Adjusted SG&A(2) (3) - 5% $21.8 $22.9 Adjusted EBITDA(4) - 74% / 26% $2.2 $8.5 / $3.0 Net Income (Loss) attributable to - $(2.5) $2.1 common sh
Slide 4: Q2 YTD 2026: Consolidated Financial Results
Q2 YTD 2026: Consolidated Financial Results US$ In Millions, except EPS '+ / - (1) Q2 YTD 2026 Q2 YTD 2025 PF (5) Revenue - 1% $105.0 $105.8 Gross Profit - 5% $43.4 $45.4 Adjusted SG&A(2) (3) - 1% $45.0 $45.5 Adjusted EBITDA(4) - 92% / 68% $0.6 $7.3 / $1.8 Net Income (Loss) attributable to - $(6.8)
Slide 5: Corporate Cost Savings
Corporate Cost Savings (1) Please reference the slides in the Appendix of this presentation for a reconciliation of this non-GAAP measure. (2) Pro forma Building Solutions, Energy Services, and Investments results for the full second quarter of 2025. Alliance Drilling Tools was acquired by Star Oper
Slide 6: Q2 2026 Cash Flow Summary
Q2 2026 Cash Flow Summary US$ In Millions Q22026 Q22025 TD2026 YTD2025 Net income (loss) $ (1.8) $(0.7) $ (5.6) $ (2.4) Total Depreciation and amortization 09 0.2 19 Os Provision for expected credit losses 0.2 - 0.2 0.0 Provision for (benefits from) deferred income taxes 0.4 (0.2) (0.5) (0.2) Stock-
Slide 7: Balance Sheet: Selected Items
Balance Sheet: Selected Items US$ In Millions 6/30/2026 12/31/2025 Selected Assets Cash $6.8 $10.3 Restricted Cash $2.1 $3.1 Accounts Receivable $34.9 $35.2 Stockholders’ Equity Stockholders' Equity $59.8 $65.7 Working Capital Current Assets $57.8 $62.5 Current Assets ex-cash $51.0 $52.2 Current Lia
Slide 8: Business Divisions
Building Solutions Division Business Divisions (slides 9 – 10) Business Services Division Current businesses: (slides 11– 13) opportunities, financial highlights, and future Energy Services Division goals (slide 14) 8
Slide 9: Q2 2026: Building Solutions Financial Results
Q2 2026: Building Solutions Financial Results US$ In Millions '+ / - (1) Q2 2026 Q2 2025 (2) Revenue - 28% $14.6 $20.4 Gross Profit - 40% $3.2 $5.2 Adjusted EBITDA(3) - 79% $0.5 $2.3 (1) + / - indicates whether the caption was higher (+) or lower (-) than the comparison period. (2) Building Solution
Slide 10: Building Solutions: Backlog
Building Solutions: Backlog Historical Backlog (USD in thousands) Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Beginning Backlog (1) $ 27,913 $ 25,739 $ 20,032 $ 9,598 $ 7,983 (+) New Orders $ 18,223 $ 15,680 $ 7,541 $ 9,983 $ 17,275 (-) Recognized Revenue $ 20,398 $ 21,387 $ 17,975 $ 11,598 $ 14,612 End
Slide 11: Q2 2026: Business Services Financial Results
Q2 2026: Business Services Financial Results US$ In Millions '+ / - (1) Q2 2026 Q2 2025 Revenue + 2% $36.4 $35.5 Gross Profit - 4% $17.8 $18.6 Adjusted EBITDA(2) - 25% $1.6 $2.2 (1) + / - indicates whether the caption was higher (+) or lower (-) than the comparison period. (2) Adjusted EBITDA is a n
Slide 12: Q2 2026: Business Services Operating Dashboard
Q2 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 = $71.8M Relatively stable (slight increase) over the past four quarters TTM Adjusted EBITDA Marg
Slide 13: Q2 2026: Business Services Regional Split
Q2 2026: Business Services Regional Split Revenue Gross Profit EMEA EMEA APAC Americas APAC Americas 13
Slide 14: Q2 2026: Energy Services Financial Results
Q2 2026: Energy Services Financial Results US$ In Millions '+ / - (1) Q2 2026 Q2 2025 (2) Revenue + 19% $3.9 $3.3 Gross Profit + 75% $1.9 $1.1 Adjusted EBITDA(3) + 126% $1.2 $0.5 (1) + / - indicates whether the caption was higher (+) or lower (-) than the comparison period. (2) Energy Services Q2 20
Slide 15: Appendix
Appendix * Star Equity Holdings 15
Slide 16: 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 17: Reconciliation of Non-GAAP Financial Measures Q2 2026 and 2025
Reconciliation of Non-GAAP Financial Measures Q2 2026 and 2025 Building Business Energy Business Q2 2026 Solutions Services Services Investments Corporate Total (3) Q2 2025 Services Corporate Total (3) Revenue, from external customers $ 14.6 $ 36.4 $ 3.9 $ 0.2 $ (0.2) $ 54.9 Revenue, from external c
Slide 18: Reconciliation of Non-GAAP Financial Measures Q2 YTD 2026 and 2025
Reconciliation of Non-GAAP Financial Measures Q2 YTD 2026 and 2025 Building Business Energy Business Q2 YTD 2026 Solutions Services Services Investments Corporate Total (3) Q2 YTD 2025 Services Corporate Total (3) Revenue, from external customers $ 26.2 $ 71.4 $ 7.4 $ 0.3 $ (0.3) $ 105.0 Revenue, fr
Slide 19: Reconciliation of Non-GAAP Financial Measures Q2 and YTD 2026 and 2025
Reconciliation of Non-GAAP Financial Measures Q2 and YTD 2026 and 2025 Adjusted Net Loss (1) Per Diluted Share (1) Adjusted Net Loss (1) Per Diluted Share (1) Three Months Ended Three Months Ended Six Months Ended Six Months Ended June 30, 2026 June 30, 2026 June 30, 2026 June 30, 2026 Net loss $ (1
Slide 20: Reconciliation of Pro Forma Non-GAAP Financial Measures Q2 2025
Reconciliation of Pro Forma (1) Non-GAAP Financial Measures Q2 2025 Building Business Energy Pro Forma Adjusted Pro Forma Per Pro Forma Q2 2025 Solutions Services Services Investments Corporate Total (3) Net Income (3) Diluted Share (3) Pro forma revenue, from external customers (1) $ 20.4 $ 35.5 $
Slide 21: Reconciliation of Pro Forma Non-GAAP Financial Measures Q2 YTD 2025
Reconciliation of Pro Forma (1) Non-GAAP Financial Measures Q2 YTD 2025 Building Business Energy Pro Forma Adjusted Pro Forma Per Pro Forma Q2 YTD 2025 Solutions Services Services Investments Corporate Total (3) Net Income (3) Diluted Share (3) Pro forma revenue, from external customers (1) $ 32.5 $
Slide 22: 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 22