Cadre Holdings, Inc. (CDRE) Income Statement
CDRE 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsCDRE revenue and net income
Where CDRE's revenue goes
2025Each bar shows an amount and its share of revenue. CDRE kept 7.2% of revenue as net income.
CDRE profit margins
CDRE growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +7.5% | +10.1% | +8.6% | — |
| Gross profit | +7.8% | +12.7% | +10.5% | — |
| Operating income | +12.4% | +65.0% | +8.5% | — |
| Net income | +22.2% | +96.5% | +2.8% | — |
| EPS (diluted) | +14.7% | +52.9% | +1.7% | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
CDRE quarterly EPS vs estimates
Cadre beat the analyst EPS estimate in 5 of the last 8 quarters. Next report: November 3, 2026 (estimate $0.33).
CDRE income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | $610.3M | $567.6M | $482.5M | $457.8M | $427.3M | $404.6M | $420.7M |
| Cost of revenue | $358.6M | $334.1M | $281.8M | $282.2M | $256.6M | $251.7M | $274.7M |
| Gross profit | $251.7M | $233.5M | $200.7M | $175.7M | $170.7M | $152.9M | $146.0M |
| Research & development | $11.4M | — | $7.0M | $8.7M | $12.4M | $9.3M | $9.2M |
| Sales, general & admin | $183.1M | $159.0M | $134.9M | $153.3M | $111.8M | $103.9M | $120.8M |
| Total operating expenses | $176.7M | $166.7M | $144.2M | $159.0M | $119.0M | $103.1M | $118.7M |
| Operating income | $75.0M | $66.8M | $56.5M | $16.7M | $51.7M | $49.8M | $27.4M |
| Interest expense | $11.8M | $7.8M | $4.5M | $6.2M | $16.4M | $24.4M | $29.8M |
| Income before taxes | $62.3M | $54.2M | $52.9M | $9.4M | $19.2M | $27.9M | −$2.1M |
| Income taxes | $18.2M | $18.1M | $14.3M | $3.6M | $6.5M | −$10.6M | −$142,000 |
| Net income | $44.1M | $36.1M | $38.6M | $5.8M | $12.7M | $38.5M | −$1.9M |
| EBITDA | $92.8M | $78.5M | $73.2M | $31.2M | $49.3M | $67.0M | $43.2M |
| EPS (diluted) | $1.25 | $1.09 | $1.04 | $0.35 | $1.46 | $1.15 | — |
| Gross margin | 41.2% | 41.1% | 41.6% | 38.4% | 39.9% | 37.8% | 34.7% |
| Operating margin | 12.3% | 11.8% | 11.7% | 3.7% | 12.1% | 12.3% | 6.5% |
| Net margin | 7.2% | 6.4% | 8.0% | 1.3% | 3.0% | 9.5% | −0.5% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $207.1M | $155.4M | $167.2M | $155.9M | $157.1M | $130.1M | $176.0M | $109.4M | $144.3M | $137.9M | $124.6M | $125.1M |
| Cost of revenue | $120.0M | $96.8M | $98.9M | $90.6M | $94.1M | $75.0M | $98.8M | $69.4M | $85.7M | $80.2M | $74.8M | $71.5M |
| Gross profit | $87.1M | $58.7M | $68.3M | $65.3M | $63.0M | $55.1M | $77.2M | $40.0M | $58.6M | $57.6M | $49.8M | $53.6M |
| Research & development | — | — | — | — | — | — | — | — | — | — | $7.0M | — |
| Sales, general & admin | $63.2M | $48.8M | $50.6M | $45.6M | $45.1M | $41.8M | $45.0M | $34.0M | $38.6M | $40.7M | $28.8M | $36.3M |
| Total operating expenses | $64.7M | $49.3M | $46.4M | $44.4M | $45.0M | $40.9M | $47.8M | $34.6M | $38.7M | $45.6M | $37.1M | $36.9M |
| Operating income | $22.5M | $9.3M | $21.9M | $20.9M | $18.0M | $14.2M | $29.4M | $5.4M | $20.0M | $12.0M | $12.7M | $16.7M |
| Interest expense | $5.0M | $3.8M | $4.9M | $2.0M | $3.0M | $2.0M | $2.2M | $2.0M | $2.0M | $1.6M | $804,000 | $1.1M |
| Income before taxes | $16.9M | $2.8M | $17.7M | $14.8M | $17.2M | $12.6M | $22.7M | $5.0M | $17.6M | $8.9M | $12.4M | $15.3M |
| Income taxes | $5.5M | $856,000 | $5.9M | $3.9M | $5.0M | $3.4M | $9.7M | $1.3M | $5.0M | $2.0M | $2.8M | $4.3M |
| Net income | $11.4M | $2.0M | $11.7M | $10.9M | $12.2M | $9.2M | $13.0M | $3.7M | $12.6M | $6.9M | $9.6M | $11.1M |
| EBITDA | $28.1M | $12.3M | $27.2M | $22.2M | $24.9M | $18.4M | $29.0M | $10.7M | $24.2M | $14.5M | $16.6M | $20.6M |
| EPS (diluted) | $0.26 | $0.18 | $0.29 | $0.38 | $0.32 | $0.26 | $0.32 | $0.10 | $0.34 | $0.33 | $0.25 | $0.31 |
| Gross margin | 42.1% | 37.7% | 40.9% | 41.9% | 40.1% | 42.4% | 43.9% | 36.6% | 40.6% | 41.8% | 39.9% | 42.8% |
| Operating margin | 10.8% | 6.0% | 13.1% | 13.4% | 11.5% | 11.0% | 16.7% | 5.0% | 13.8% | 8.7% | 10.2% | 13.4% |
| Net margin | 5.5% | 1.3% | 7.0% | 7.0% | 7.8% | 7.1% | 7.4% | 3.3% | 8.7% | 5.0% | 7.7% | 8.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in CDRE's financial statements (latest annual report filed March 10, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
CDRE financial results
In fiscal year 2025 (ended December 31, 2025), Cadre reported revenue of $610.3 million, up 7.5% from the year before. It had net income of $44.1 million (up 22.2%), a net profit margin of 7.2%. Diluted earnings per share came to $1.25. Over five years revenue grew at an average rate of 8.6% a year.
See the CDRE stock overview for the latest quote and news, or the CDRE chart for price history and technical indicators.
CDRE income statement FAQ
What is Cadre's annual revenue?
Cadre reported total revenue of $610.3 million for fiscal year 2025, which ended on December 31, 2025. That was up 7.5% from $567.6 million the previous year.
Is Cadre profitable?
Yes. Cadre reported net income of $44.1 million in fiscal 2025, a net profit margin of 7.2%; its operating margin was 12.3%.
What is Cadre's gross margin?
Cadre's gross margin was 41.2% in fiscal 2025: for every $100 of revenue, Cadre kept $41 after the direct cost of its products and services.
How much does Cadre spend on research and development?
Cadre spent $11.4 million on research and development in fiscal 2025, 1.9% of revenue.
How fast is Cadre growing?
Revenue grew 8.6% a year on average over the last five fiscal years, from $404.6 million to $610.3 million.
What are Cadre's earnings per share?
Cadre earned $1.25 per diluted share in fiscal 2025, compared with $1.09 a year earlier.
When will Cadre report its next earnings?
Cadre is expected to report results for the quarter ending September 30, 2026 on November 3, 2026 after the market closes.
When does Cadre's fiscal year end?
Cadre's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 10, 2026.