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Alliance Laundry Q3 net income rises to $65.1M

Full-year Adjusted EBITDA growth guidance is approximately 10%; year-end Net Leverage is projected at approximately 2.1x absent other capital allocation opportunities.

Available on EDGAR Accepted by SEC EDGAR
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Form Type
8-K

Rhea-AI Filing Summary

Alliance Laundry Holdings Inc. (ALH) reported third-quarter 2026 net revenues of $460.9 million, up 5% year over year, and net income of $65.1 million versus $32.9 million. Gross profit increased 12% to $181.6 million. Adjusted EBITDA, a non-GAAP measure, rose 14% to $126.7 million, with a 27.5% margin, up about 220 basis points. Adjusted net income was $76.0 million versus $48.4 million.

Operating cash flow was $84 million, compared with $66 million a year earlier. Alliance repaid $45 million of debt and repurchased $75 million of common stock during the quarter; year-to-date debt reduction was $160 million. At September 30, 2026, total debt was $1.21 billion, net debt was $1.07 billion and Net Leverage was 2.25x. North America revenue rose 8% to $355.6 million; International revenue declined 1% to $105.3 million.

For full-year 2026, revenue growth guidance remains +6% to 7%, while Adjusted EBITDA growth guidance is approximately 10%, at the high end of the prior +8% to 10% range. Year-end Net Leverage is expected to be approximately 2.1x, absent other capital allocation opportunities, and includes the third-quarter repurchase. Interest expense is expected to be about $75 million and diluted share count about 203 million.

4 points · 0 major

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It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

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0 major · 0 points

How the balance works

Positive

  • Moderate pointNet revenues increased 5% to $460.9 million year over year.
  • Moderate pointNet income rose to $65.1 million from $32.9 million.
  • Moderate pointAdjusted EBITDA increased 14% to $126.7 million.
  • Moderate pointOperating cash flow rose to $84 million from $66 million.

Negative

  • None.
Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Net revenues $460.9 million Third quarter of 2026; up 5% year over year
Net income $65.1 million Third quarter of 2026; compared with $32.9 million in the prior-year quarter
Adjusted EBITDA $126.7 million Third quarter of 2026; up 14% year over year
Operating cash flow $84 million Third quarter of 2026; compared with $66 million in the prior-year quarter
Common stock repurchased $75 million During the third quarter of 2026
Net Leverage 2.25x As of September 30, 2026
2026 Adjusted EBITDA growth guidance Approximately 10% At the high end of the prior +8% to 10% range
2026 revenue growth guidance +6% to 7% Full-year guidance
Adjusted EBITDA financial
"Adjusted EBITDA increased 14% to $127 million"
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
Net Leverage financial
"Net Leverage decreased to 2.25x"
Net leverage measures how many years it would take for a company to pay off its outstanding debt using its annual operating cash flow, after subtracting cash on hand from total debt. Think of it like a household’s mortgage balance minus savings divided by yearly income; a lower number means the company is in a safer position to handle debt, while a higher number signals greater financial risk and potential pressure on profits or growth.
Net Debt financial
"Net Debt represents our total debt less Cash and cash equivalents"
Net debt is the total amount a company owes after subtracting the cash and assets it has that can be used to pay off that debt. It shows how much debt is truly a burden, helping investors understand if a company is financially healthy or heavily borrowed. Think of it like calculating how much money you owe after using your savings to pay part of it.
Segment Adjusted EBITDA financial
"Segment Adjusted EBITDA is a measure of operating performance"
Segment adjusted EBITDA is a measure of how much profit a specific part of a company generates from its everyday operations, before counting interest, taxes, depreciation, amortization and one‑off items. Investors use it like checking the fuel efficiency of one car in a fleet: it helps compare which business lines truly earn money, evaluate trend performance, and decide where to invest or cut costs without distortions from financing or accounting choices.
asset backed borrowings financial
"Asset backed borrowings - owed to securitization investors"
Net revenues $460.9 million Up 5% from $437.6 million in the prior-year quarter
Net income $65.1 million Compared with $32.9 million in the prior-year quarter
Adjusted EBITDA $126.7 million Up 14% from $110.8 million in the prior-year quarter
Operating cash flow $84 million Compared with $66 million in the prior-year quarter
Guidance

For 2026, revenue growth guidance remains +6% to 7%, Adjusted EBITDA growth guidance is approximately 10%, and year-end Net Leverage is expected to be approximately 2.1x absent other capital allocation opportunities.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How did ALH's North America and International segments perform in Q3 2026?
North America revenue increased 8% to $355.6 million, and segment Adjusted EBITDA was $115.2 million with a 32.4% margin, up from 28.9% a year earlier. International revenue decreased 1% to $105.3 million; segment Adjusted EBITDA was $26.6 million and its margin was 25.3%, compared with 24.0%.

What is ALH's 2026 financial guidance?
For 2026, Alliance expects revenue growth of 6% to 7% and Adjusted EBITDA growth of approximately 10%. The company projects about 2.1x Net Leverage by year-end, absent other capital allocation opportunities, approximately $75 million of interest expense, approximately 203 million diluted shares, capital expenditures of about 3% of revenue and an effective tax rate of about 23%.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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0001317685FALSE00013176852026-11-102026-11-10
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): November 10, 2026
Alliance Laundry Holdings Inc.
(Exact name of registrant as specified in its charter)
Delaware
001-42897
98-0444708
(State or other jurisdiction of incorporation)
(Commission File Number)
(I.R.S. Employer Identification No.)
221 Shepard Street
Ripon, Wisconsin
54971
(Address of principal executive offices)
(Zip Code)
Registrant’s telephone number, including area code: (920) 748-3121
Not Applicable
Former name or former address, if changed since last report
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
☐
 Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Stock, par value $0.01 per share
ALH
New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933
(§230.405 of this Chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company  ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐
Item 2.02 - Results of Operations and Financial Condition
On November 10, 2026, Alliance Laundry Holdings Inc. issued a press release providing information
regarding earnings for the third quarter of 2026. A copy of the press release is attached hereto as Exhibit 99.1.
The information contained in this Item 2.02 of this Current Report, including Exhibit 99.1 attached hereto,
shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the
“Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by
reference in any filing made by the Company under the Securities Act of 1933, as amended, or the Exchange Act,
except as expressly provided by specific reference in such a filing.
Item 9.01.Financial Statements and Exhibits.
(d)Exhibits
Exhibit No.
Description
99.1
Press Release, dated November 10, 2026
104
Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this
report to be signed on its behalf by the undersigned hereunto duly authorized.
ALLIANCE LAUNDRY HOLDINGS INC.
Date: November 10, 2026
By:
/s/ Michael D. Schoeb
Name: Michael D. Schoeb
Title: Chief Executive Officer
Exhibit 99.1
picture1a.jpg
Alliance Laundry Reports Third Quarter 2026 Results
Third Quarter 2026 Highlights:
All results are for the third quarter of fiscal 2026, and comparisons are year-over-year unless otherwise noted
•Net revenues of $461 million
•Net income of $65 million, with Adjusted Net income of $76 million and Net income margin
of 14.1%
•Adjusted EBITDA of $127 million; Adjusted EBITDA margin of 27.5%
•Repaid $45 million in debt and repurchased $75 million of common stock; Net Leverage
reduced to 2.25x
•Full year guidance: Net revenues growth of 6% to 7% maintained; Adjusted EBITDA growth
now ~10%, the high end of our previous range1
___________________________________________________________________
RIPON, Wis., November 10, 2026 – Alliance Laundry Holdings Inc. (NYSE: ALH) (“Alliance” or the
“Company”), the global leader in commercial laundry equipment, today announced results for its third
quarter ended September 30, 2026 and updated full-year guidance.
“Our third quarter results reflect our deep commitment to customers and the strength, resilience and
non-discretionary nature of our business model,” said Michael Schoeb, CEO of Alliance. “We
continue to invest in our business by expanding our connected equipment platform, deepening our
distributor partnerships, and supporting the businesses, operators and people who count on our
products every day. In the quarter, North America delivered strong growth, and our International
segment expanded profitability with mixed top-line performance across regions. Demand for our
laundry solutions remains durable, and diversity by product, end market, and geography helps to drive
long term consistent results. Our focus on operational excellence and disciplined capital allocation
positions us well to compound value for shareholders over the long term. Additionally, we are raising
our full-year Adjusted EBITDA guidance to the high end of our previous range and pleased to be
approaching our year-end Net Leverage target even when factoring in the share repurchase completed
in the third quarter.”
1 Refer to the "Non-GAAP Financial Measures" section for additional information regarding forward-looking non-GAAP financial
measures. A reconciliation of non-GAAP measures is contained in the appendix to this press release.
THIRD QUARTER 2026 CONSOLIDATED RESULTS
Net revenues increased 5% to $461 million compared to $438 million in the prior year quarter.
Volume and mix benefits accounted for half of this increase in the quarter with pricing contributing to
the balance. Growth in North America was slightly offset by lower International segment revenue. The
majority of international markets performed as expected, with particular strength in the Latin America
region. Foreign currency fluctuation had an approximate one percent negative impact on International
revenue compared to the prior year.
Gross profit increased 12% to $182 million, representing a gross margin of 39.4%, which is an
approximate 240 basis points increase from the prior year quarter. Volume and mix provided a
meaningful benefit, helping to offset ongoing inflationary pressures, alongside pricing actions already
in place. A discrete benefit from tariff refunds in the quarter also helped absorb higher current year
inflationary cost increases. Our local-for-local manufacturing footprint continues to provide a
meaningful structural cost advantage, particularly given the tariff environment.
Net income was $65 million compared to $33 million in the prior year quarter, with Net income
margin of 14.1%. Adjusted Net income increased approximately 57% to $76 million versus $48
million in the prior year quarter, reflecting the growth in operating earnings and approximately $20
million in lower interest expense.
Adjusted EBITDA increased 14% to $127 million, with Adjusted EBITDA Margin of 27.5%, an
increase of approximately 220 basis points versus the prior year quarter. Volume leverage, operational
excellence, and supply chain efficiency drove the margin expansion, as well as the discrete benefit
from tariff refunds in the quarter.
CASH FLOW AND BALANCE SHEET
Operating cash flow for the quarter was $84 million, up from $66 million in the prior year quarter,
reflecting strong operating cash conversion and continued working capital efficiency, consistent with
the Company’s historical performance. During the quarter, the Company paid down $45 million of
debt, bringing total year-to-date debt reduction to $160 million, and repurchased $75 million of
common stock. As of September 30, 2026, total debt was $1.21 billion and net debt was $1.07 billion.
Net Leverage decreased to 2.25x, down from approximately 2.4x at June 30, 2026, and approximately
2.8x as of the prior year end.
THIRD QUARTER 2026 RESULTS BY REPORTABLE SEGMENT
North America revenues increased 8% to $356 million, with Adjusted EBITDA of $115 million and
Adjusted EBITDA margin increasing over 300 basis points versus the prior year. North America
revenue growth was led by Commercial In-Home and On-Premise Laundry, both driven by higher
volume. Commercial In-Home results were driven by consumers choosing the reliability, longevity,
and durability that our commercial heritage delivers. On-Premise Laundry had a strong quarter,
reflecting the nature of its steady, replacement-driven demand. In Vended, which includes laundromat
and multi-housing customers, results reflected the timing of new store projects, including longer
permitting and construction lead times, while customers continued the trend of retooling with larger-
capacity machines. Significant cost pressures persisted during the quarter, led by steel and freight, but
a tariff refund and pricing actions taken late last year helped to offset that inflation, and our U.S.
manufacturing footprint and supply chain remain a structural advantage.
International revenues decreased 1% to $105 million, mainly due to foreign currency, and Adjusted
EBITDA increased to $27 million with Adjusted EBITDA margin of 25.3%. International grew
profitability despite varied top-line performance across regions. Europe was steady, with continued
support from the ongoing replacement and upgrade cycle, plus vended growth across its end markets.
Latin America showed solid growth while Asia Pacific results reflect timing of projects following
strength in prior quarters, with year-to-date revenue up versus the prior year. Middle East & Africa
stabilized in the quarter, supported by the hospitality market and growth in areas not directly affected
by the conflict in the Middle East. Adjusted EBITDA and margin expansion reflected favorable
product and end market mix and positive price versus cost, net of inflation and tariffs. Our local-for-
local manufacturing model also helped mitigate the impact of currency on profitability. While regional
and product mix will continue to make international results variable from quarter to quarter,
underlying financial trends have been positive beyond a single quarter even as we continue to invest in
people and products in emerging markets to support future growth.
UPDATED 2026 FULL YEAR GUIDANCE
The Company’s outlook includes Adjusted EBITDA and Net Leverage, which are non-GAAP
measures. The Company does not provide certain estimated future results for Adjusted EBITDA and
Net Leverage on a GAAP basis because the Company is unable to predict, with reasonable certainty,
certain items that are excluded from Adjusted EBITDA, including but not limited to stock-based
compensation, strategic transaction costs, refinancing and debt-related costs, foreign exchange gain/
loss on intercompany loans, plus interest, taxes, and depreciation and amortization. These items are
uncertain and will depend on several factors, including industry conditions, and could be material to
the Company’s results computed in accordance with GAAP. The Company has not provided
reconciliations between the Company’s 2026 guidance and the most directly comparable GAAP
measures because it would be too difficult to prepare a reliable U.S. GAAP quantitative reconciliation
without unreasonable effort.
Based on the strength of our year-to-date performance and our visibility into the balance of the year,
the Company is raising Adjusted EBITDA guidance for 2026 to the high end of the previous range and
firming up its Net Leverage guidance. Revenue guidance remains unchanged.
Revenue growth guidance versus prior year remains at +6% to 7%. Adjusted EBITDA growth has
been increased to ~10%, the high end of the prior range of +8% to 10%, as the Company realizes the
benefit of volume and mix contributions as well as pricing impact alongside the realization of
continued cost-down initiatives and tariff refunds that have helped address the rising input cost
environment. The Company anticipates Net Leverage of approximately 2.1x by the end of 2026,
absent any other capital allocation opportunities, and includes the $75 million share repurchase
completed during the third quarter. Interest is now expected to total approximately $75 million for
2026 and share count is now expected to be approximately 203 million for fiscal year 2026. Our
Capital Expenditures and Effective Tax Rate assumptions remain unchanged.
Updated 2026 Guidance
(Previous)
Revenue Growth
+6% to 7%
Adjusted EBITDA Growth
+ ~10%
(+8% to 10%)
Net Leverage
2.1x
(2.0x by year end)*
Capital Expenditures (% of Revenue)
~3%
Effective Tax Rate
~23.0%
Interest Expense
~$75 million
(~$80 million)
Diluted Share Count
~203 million
(~205 million)
*Issued prior to the $75 million share repurchase completed in the third quarter
 
CONFERENCE CALL INFORMATION
Alliance will host a conference call to discuss these results at 8:00 a.m. Eastern Time today,
November 10, 2026.
A live audio webcast will be available on Alliance’s Investor Relations website at https://
ir.alliancelaundry.com/news-events/ir-calendar. A replay of the webcast will be available after the call.
ABOUT ALLIANCE LAUNDRY
Alliance Laundry makes the world cleaner as a provider of the highest quality commercial laundry
systems. Our laundry solutions are available under five respected brands, sold and supported by a
global network of select distributors. We serve approximately 150 countries with a team of more than
4,000 employees. Our brands include Speed Queen®, UniMac®, Huebsch®, Primus® and IPSO®.
Together, they present a full line of commercial washing machines, dryers, and ironers (with load
capacities from 20–400 lb. or 9–180 kg.) and support service. You can also enjoy the superior wash
and fabric care of commercial-grade laundry equipment in your home through our legendary Speed
Queen® washers and dryers.
For more information, visit www.alliancelaundry.com.
NON-GAAP FINANCIAL MEASURES
We regularly review non-GAAP measures to evaluate our business, measure our performance and
manage our operations, including identifying trends affecting our business, formulating business plans
and making strategic decisions. We believe that non-GAAP measures provide an additional way of
viewing aspects of our operations that, when viewed together with our GAAP results, provide a more
complete understanding of our results of operations and the factors and trends affecting our business.
These non-GAAP financial measures are also used by our management to evaluate financial results
and to plan and forecast future periods. Non-GAAP financial measures should be considered a
supplement to, and not a substitute for, or superior to, the corresponding measures calculated in
accordance with GAAP. Non-GAAP financial measures used by us may differ from the non-GAAP
measures used by other companies, including our competitors.
“Adjusted EBITDA” represents Net income before provision for income taxes, interest expense,
depreciation and amortization and is further adjusted to exclude certain expenses not representative of
our ongoing operations and other charges not involving cash outlays and “Adjusted EBITDA Margin”
represents Adjusted EBITDA divided by Net revenues.
“Adjusted Net income” represents Net income adjusted to exclude certain expenses not
representative of our ongoing operations and other charges. These adjustments include, but are not
limited to, refinancing and debt related costs, stock-based compensation, strategic transaction costs,
intangible amortization, foreign exchange on intercompany loans and other non-recurring items.
“Net Debt” represents our total debt less Cash and cash equivalents.
“Net Debt to Adjusted EBITDA” or “Net Leverage” represents total debt less Cash and cash
equivalents divided by Adjusted EBITDA for the relevant period.
SEGMENT INFORMATION
Our business is organized into two reportable segments, North America and International. The
Company uses Segment net revenues, Segment Adjusted EBITDA and Segment Adjusted EBITDA
Margin as its measures of performance. The Company allocates certain costs including manufacturing
variances, customer support expenses and selling and general expenses which are incurred in our
global operations to the reportable segments in determining Segment Adjusted EBITDA.
We define “Segment Adjusted EBITDA” as, on a segment basis, net income excluding interest
income/expense, income taxes, depreciation and amortization. Segment Adjusted EBITDA is also
adjusted for the discrete items that management excluded in analyzing the segments’ operating
performance, such as refinancing and debt related costs, stock-based compensation, strategic
transaction costs, foreign exchange on intercompany loans and other non-recurring items which
management believes are not indicative of the Company’s ongoing operating performance. Segment
Adjusted EBITDA is a measure of operating performance of our reportable segments and may not be
comparable to similar measures reported by other companies.
FORWARD-LOOKING STATEMENTS
This press release includes “forward-looking statements” within the meaning of the “safe harbor”
provisions of the United States Private Securities Litigation Reform Act of 1995. In some cases, you
can identify these forward-looking statements by the use of terms such as “expect,” “will,” “continue,”
or similar expressions, and variations or negatives of these words, but the absence of these words does
not mean that a statement is not forward-looking. Forward-looking statements represent our
management’s beliefs and assumptions only as of the date of this press release. You should read this
press release with the understanding that our actual future results may be materially different from
what we expect. All statements other than statements of historical fact are statements that could be
deemed forward-looking statements, which include but are not limited to: expectations relating to
revenues and other financial or business metrics; statements regarding the Company’s plans, guidance,
growth, execution, costs and cost savings and any other statements of expectation or belief. These
statements are subject to known and unknown risks, uncertainties and other factors that may cause our
actual results, levels of activity, performance or achievements to differ materially from results
expressed or implied in this press release. Such risk factors include, but are not limited to, those related
to: the high degree of competition in the markets in which we operate; our reliance on the performance
of distributors, route operators, suppliers, retailers and servicers; our ability to achieve and maintain a
high level of product and service quality; fluctuations in the cost and availability of raw materials; our
exposure to international markets, particularly emerging markets; our exposure to costs and difficulties
of acquiring and integrating complementary businesses and technologies; and our exposure to
worldwide economic conditions and potential global economic downturns.
Additional information concerning these and other risks and uncertainties are contained in the section
entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended
December 31, 2025. Additional information will be made available in our quarterly reports on Form
10-Q, and other filings and reports that we may file from time to time with the SEC. Except as
required by law, we assume no obligation, and do not intend to, update these forward-looking
statements, or to update the reasons actual results could differ materially from those anticipated in
these forward-looking statements, even if new information becomes available in the future.
ALLIANCE LAUNDRY SYSTEMS CONTACTS:
Investor Contact:
Tom Gelston
Vice President, Investor Relations & Corporate Development
thomas.gelston@alliancels.com
Media Contact:
Randy Radtke
Senior Manager of Content and Creative Services
randy.radtke@alliancels.com
ALLIANCE LAUNDRY HOLDINGS INC.
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(unaudited)
(in thousands, except per share amounts)
Three Months Ended
September 30,
Nine Months Ended
September 30,
2026
2025
2026
2025
Net revenues:
Equipment, service parts and other
$447,882
$424,993
$1,326,794
$1,237,465
Equipment financing
13,038
12,613
37,768
36,898
Net revenues
460,920
437,606
1,364,562
1,274,363
Costs and expenses:
Cost of sales
269,295
265,844
806,147
764,100
Cost of sales - related parties
2,050
1,950
5,855
5,032
Equipment financing expenses
7,998
7,859
23,898
24,068
Gross profit
181,577
161,953
528,662
481,163
Selling, general, and administrative expenses
81,748
76,386
239,215
227,113
Selling, general, and administrative expenses - related
parties
54
75
218
225
Total operating expenses
81,802
76,461
239,433
227,338
Operating income
99,775
85,492
289,229
253,825
Interest expense, net
16,565
36,952
52,262
121,240
Other (income)/expenses, net
(2,705)
5,606
(9,168)
26,514
Income before taxes
85,915
42,934
246,135
106,071
Provision for income taxes
20,781
10,038
55,416
24,912
Net income
$65,134
$32,896
$190,719
$81,159
Comprehensive income:
Net income
$65,134
$32,896
$190,719
$81,159
Foreign currency translation adjustment 
(5,116)
5,969
(18,880)
59,155
Comprehensive income
$60,018
$38,865
$171,839
$140,314
Net income
Basic
$0.33
$0.19
$0.96
$0.47
Diluted
$0.32
$0.19
$0.94
$0.46
Weighted average number of common shares
outstanding
Basic
197,236
171,423
197,890
171,554
Diluted
201,947
174,950
202,925
175,458
ALLIANCE LAUNDRY HOLDINGS INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(unaudited)
(in thousands, except share and per share amounts)
September 30, 2026
December 31, 2025
Assets
Current assets:
Cash and cash equivalents
$133,650
$123,102
Restricted cash
1,682
3,602
Restricted cash - for securitization investors
27,882
22,999
Accounts receivable, net
112,099
113,651
Inventories, net
144,005
146,039
Inventories, net - related parties
987
821
Accounts receivable, net - restricted for securitization investors
170,088
141,973
Equipment financing receivables, net
1,660
2,822
Equipment financing receivables, net - restricted for securitization investors
100,540
92,011
Prepaid expenses and other current assets
35,415
28,862
Total current assets
728,008
675,882
Equipment financing receivables, net
2,466
4,913
Property, plant, and equipment, net
256,446
265,250
Operating lease right-of-use assets
21,377
20,741
Equipment financing receivables, net - restricted for securitization investors
511,763
470,408
Deferred income tax asset, net
3,218
3,169
Debt issuance costs, net
3,450
3,461
Goodwill
681,652
684,230
Intangible assets, net
717,991
754,737
Other long-term assets
4,490
3,097
Total assets
$2,930,861
$2,885,888
Liabilities and Stockholders' Equity
Current liabilities:
Current portion of long-term debt
$86
$113
Accounts payable
170,495
128,662
Accounts payable - related parties
1,891
1,852
Asset backed borrowings - owed to securitization investors
204,206
194,180
Current operating lease liabilities
6,307
5,927
Other current liabilities
158,110
153,592
Total current liabilities
541,095
484,326
Long-term debt, net
1,196,820
1,354,636
Asset backed borrowings - owed to securitization investors
461,508
424,406
Deferred income tax liability
171,325
169,355
Long-term operating lease liabilities
16,221
15,745
Other long-term liabilities
53,111
45,302
Total liabilities
2,440,080
2,493,770
Stockholders' equity:
Redeemable preferred stock, $0.01 par value, 100,000,000 shares authorized, no shares issued or
outstanding
—
—
Common stock, $0.01 par value, 2,000,000,000 shares authorized, 196,263,056 and 197,532,147 issued,
respectively, and 196,263,056 and 197,532,147 outstanding, respectively
1,962
1,975
Additional paid-in capital
436,206
509,369
Retained earnings/(accumulated deficit)
14,315
(176,404)
Accumulated other comprehensive income
38,298
57,178
Total stockholders' equity
490,781
392,118
Total liabilities and stockholders’ equity
$2,930,861
$2,885,888
ALLIANCE LAUNDRY HOLDINGS INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited)
(in thousands)
Nine Months Ended September 30,
2026
2025
Cash flows from operating activities:
Net income
$190,719
$81,159
Adjustments to reconcile Net income to net cash provided by operating activities:
Depreciation and amortization
66,928
69,344
Amortization and extinguishment of debt issuance costs
1,667
2,498
Amortization of original issue discount
1,528
2,858
Non-cash interest (income) expense
(10,603)
9,761
Non-cash loss on commodity contracts, net
398
(9)
Non-cash foreign exchange (gain)/loss, net
(9,173)
23,035
Non-cash stock-based compensation
7,580
2,562
(Gain)/loss on sale of property, plant, and equipment
(242)
656
Provision for credit losses
3,234
2,917
Deferred income taxes
2,720
(4,144)
Changes in assets and liabilities, net of the effects of acquisitions:
Accounts and equipment financing receivables, net
(1,673)
(3,807)
Accounts receivable - restricted for securitization investors
(28,295)
(34,391)
Inventories, net
3,693
(15,069)
Inventories, net - related party
(166)
166
Equipment financing receivables, net - restricted for securitization investors
(57,863)
(21,783)
Other assets
9,281
(3,153)
Accounts payable
39,552
9,677
Accounts payable - related parties
39
370
Other liabilities
10,878
(5,857)
Net cash provided by operating activities
230,202
116,790
Cash flows from investing activities:
Capital expenditures
(23,780)
(29,789)
Acquisition of businesses, net of cash acquired
(3,758)
(13,614)
Proceeds on disposition of assets
548
343
Originations of equipment financing receivables, net - restricted for securitization investors
(53,501)
(66,924)
Collections of equipment financing receivables, net - restricted for securitization investors
58,545
55,674
Net cash used in investing activities
(21,946)
(54,310)
Cash flows from financing activities:
Payments on long-term borrowings
(160,000)
(135,000)
Cash paid for debt establishment and amendment fees
(924)
(1,877)
Increase in asset backed borrowings owed to securitization investors
175,464
164,311
Decrease in asset backed borrowings owed to securitization investors
(128,338)
(117,086)
Repurchase of common stock
(75,000)
(6,205)
Taxes paid related to net share settlement of stock options
(8,795)
(1,937)
Net proceeds from stock options exercised
3,162
5,672
Proceeds from common stock issuance under employee purchase plan
209
500
Net cash used in financing activities
(194,222)
(91,622)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash
(523)
921
Increase/(Decrease) in cash, cash equivalents, and restricted cash
13,511
(28,221)
Cash, cash equivalents, and restricted cash at beginning of period
149,703
188,042
Cash, cash equivalents, and restricted cash at end of period
$163,214
$159,821
Reconciliation of cash, cash equivalents, and restricted cash to the Condensed Consolidated Balance Sheets:
Cash and cash equivalents
$133,650
$136,168
Restricted cash
1,682
3,601
Restricted cash - for securitization investors
27,882
20,052
Total cash, cash equivalents, and restricted cash shown in the Statement of Cash Flows
$163,214
$159,821
Supplemental disclosure of cash flow information:
Cash paid for interest
$59,910
$107,974
Cash paid for interest - to securitized investors
$22,892
$23,706
Cash paid for income taxes
$52,935
$38,872
Supplemental disclosure of investing and financing non-cash activities:
Capital expenditures included in accounts payable
$6,715
$2,662
ALLIANCE LAUNDRY HOLDINGS INC.
SEGMENT SUMMARY
The following table presents revenue by segment, Segment Adjusted EBITDA and Segment Adjusted
EBITDA Margin:
(Unaudited)
Three Months Ended September 30,
Nine Months Ended September 30,
(in thousands)
2026
2025
2026
2025
North America
Segment net revenues
$355,590
$330,742
$1,034,667
$952,156
Segment adjusted EBITDA
$115,246
$95,449
$315,806
$273,027
Segment adjusted EBITDA
margin
32.4%
28.9%
30.5%
28.7%
International
Segment net revenues
$105,330
$106,864
$329,895
$322,207
Segment adjusted EBITDA
$26,605
$25,650
$93,111
$91,344
Segment adjusted EBITDA
margin
25.3%
24.0%
28.2%
28.3%
Selected financial information for each segment is as follows:
(Unaudited)
Three Months Ended September 30, 2026
Three Months Ended September 30, 2025
(in thousands)
North America
International
Total
North America
International
Total
Net revenues
$355,590
$105,330
$460,920
$330,742
$106,864
$437,606
Cost of sales(1)
210,644
67,717
204,781
69,896
Other segment items(2)
29,700
11,008
30,512
11,318
Segment Adjusted EBITDA
$115,246
$26,605
$141,851
$95,449
$25,650
$121,099
Reconciling items:
Interest expense, net
(16,565)
(36,952)
Depreciation and amortization
(22,205)
(23,386)
Refinancing and debt related costs
—
(2,425)
Foreign exchange gain/(loss) on intercompany
loans, net
2,705
(3,181)
Stock-based compensation
(2,875)
(791)
Strategic transaction costs
(1,848)
(1,132)
Corporate and other
(15,148)
(10,298)
Income before taxes
$85,915
$42,934
(Unaudited)
Nine Months Ended September 30, 2026
Nine Months Ended September 30, 2025
(in thousands)
North America
International
Total
North America
International
Total
Net revenues
$1,034,667
$329,895
$1,364,562
$952,156
$322,207
$1,274,363
Cost of sales(1)
629,990
202,904
592,236
198,317
Other segment items(2)
88,871
33,880
86,893
32,546
Segment Adjusted EBITDA
$315,806
$93,111
$408,917
$273,027
$91,344
$364,371
Reconciling items:
Interest expense, net
(52,262)
(121,240)
Depreciation and amortization
(66,928)
(69,344)
Refinancing and debt related costs
(5)
(3,479)
Foreign exchange gain/(loss) on intercompany
loans, net
9,173
(23,035)
Stock-based compensation
(8,278)
(2,562)
Strategic transaction costs
(5,069)
(4,176)
Corporate and other
(39,413)
(34,464)
Income before taxes
$246,135
$106,071
                       
(1)Consists of Cost of sales, Cost of sales - related parties and Equipment financing expenses for North America and Cost of sales
and Cost of sales - related parties for International.
(2)Other segment items for each reportable segment includes allocated engineering, sales and marketing, information technology,
and certain other overhead expenses.
ALLIANCE LAUNDRY HOLDINGS INC.
RECONCILIATION SCHEDULES
The following table presents a reconciliation of Net income to the non-GAAP financial measure
adjusted earnings before interest, taxes, depreciation and amortization (Adjusted EBITDA) and Net
income margin to Adjusted EBITDA margin:
(Unaudited)
Three Months Ended September 30,
Nine Months Ended September 30,
(in thousands, except percentages)
2026
2025
2026
2025
Net income
$65,134
$32,896
$190,719
$81,159
Provision for income taxes
20,781
10,038
55,416
24,912
Interest expense, net
16,565
36,952
52,262
121,240
Depreciation and amortization
22,205
23,386
66,928
69,344
Refinancing and debt related costs
—
2,425
5
3,479
Foreign exchange (gain)/loss on
intercompany loans, net
(2,705)
3,181
(9,173)
23,035
Stock-based compensation
2,875
791
8,278
2,562
Strategic transaction costs
1,848
1,132
5,069
4,176
Adjusted EBITDA
126,703
110,801
369,504
329,907
Net revenues
460,920
437,606
1,364,562
1,274,363
Net income margin
14.1%
7.5%
14.0%
6.4%
Adjusted EBITDA margin
27.5%
25.3%
27.1%
25.9%
The following table presents a reconciliation of Net income to Adjusted net income:
(Unaudited)
Three Months Ended September 30,
Nine Months Ended September 30,
(in thousands, except per share data)
2026
2025
2026
2025
Net income
$65,134
$32,896
$190,719
$81,159
Amortization of intangible assets
11,783
12,626
35,307
38,061
Refinancing and debt related costs
—
2,425
5
3,479
Foreign exchange (gain)/loss on
intercompany loans, net
(2,705)
3,181
(9,173)
23,035
Stock-based compensation
2,875
791
8,278
2,562
Strategic transaction costs
1,848
1,132
5,069
4,176
Tax effect of add backs
(2,936)
(4,634)
(8,190)
(16,395)
Adjusted net income
$75,999
$48,417
$222,015
$136,077
Net income per share attributable to
common stockholders - diluted:
$0.32
$0.19
$0.94
$0.46
Adjusted net income per share
attributable to common stockholders -
diluted:
$0.38
$0.28
$1.09
$0.78
The following table presents the calculation of last twelve months (LTM) adjusted EBITDA for
purposes of calculating Net debt to Adjusted EBITDA:
(Unaudited)
(in thousands)
Nine Months
Ended September
30, 2026
Add: Year
Ended December
31, 2025
Less: Nine
Months Ended
September 30,
2025
LTM September
30, 2026
Net income
$190,719
$101,755
$81,159
$211,315
Provision for income taxes
55,416
36,279
24,912
66,783
Interest expense, net
52,262
150,501
121,240
81,523
Depreciation and amortization
66,928
93,701
69,344
91,285
Refinancing and debt related costs
5
3,679
3,479
205
Foreign exchange (gain)/loss on
intercompany loans, net
(9,173)
25,152
23,035
(7,056)
Stock-based compensation
8,278
19,779
2,562
25,495
Strategic transaction costs
5,069
5,627
4,176
6,520
Adjusted EBITDA
$369,504
$436,473
$329,907
$476,070
The following table presents a reconciliation of Debt to Net Debt and Net Debt to Adjusted EBITDA:
(Unaudited)
(in thousands)
September 30, 2026
December 31, 2025
Term loan
$1,205,000
$1,365,000
Finance lease obligations
133
236
Debt
1,205,133
1,365,236
Less: Cash and cash equivalents
(133,650)
(123,102)
Net debt
$1,071,483
$1,242,134
LTM adjusted EBITDA
$476,070
$436,473
Net Debt to Adjusted EBITDA
2.25x
2.85x

Source: View Original Filing on SEC EDGAR

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