Mistras Group, Inc. (MG) Financial Statements — Income, Balance Sheet, Cash Flow

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Financial Statements — MG

Balance Sheet

(in millions USD)

Metric	Q2 2026	Q1 2026	Q3 2025	Q2 2025	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022	Q2 2022	Q1 2022	Q3 2021	Q2 2021	Q1 2021
Cash & Equivalents	21.99	24.99	27.81	19.96	18.54	20.36	17.18	16.86	12.75	18.00	16.72	18.08	18.61	19.92	22.60	19.94	24.18
Accounts Receivable	161.76	151.41	174.79	159.82	128.19	144.10	149.96	140.40	136.36	118.77	120.43	131.40	129.57	127.09	127.70	122.89	111.96
Inventory	16.73	15.28	14.80	15.12	14.14	14.51	14.94	15.08	15.78	16.07	14.76	13.26	12.97	12.59	12.18	12.84	13.15
Total Current Assets	218.50	210.89	237.50	213.31	175.97	193.33	193.46	186.97	183.15	170.83	165.91	174.43	172.92	171.30	179.98	171.51	169.97
Property, Plant & Equipment	100.24	95.25	87.66	85.91	82.80	79.85	78.79	79.70	79.76	81.30	78.82	76.13	80.58	83.69	90.37	91.90	90.24
Goodwill	182.20	183.65	183.73	185.13	181.53	185.87	184.99	185.73	185.52	201.59	199.96	197.43	203.11	206.41	205.66	208.18	206.66
Intangible Assets	38.06	37.69	38.45	39.57	39.19	41.50	41.71	42.66	44.47	46.15	47.36	50.34	54.28	57.48	61.70	64.61	66.22
Total Non-current Assets*	320.50	316.60	309.83	310.61	303.51	358.35	354.68	355.16	353.54	370.12	364.91	366.01	382.63	396.92	407.25	415.87	414.43
Total Assets	584.12	572.67	596.26	571.04	526.79	551.68	548.15	542.13	536.69	540.95	530.82	540.45	555.54	568.23	587.23	587.38	584.40
Accounts Payable	21.67	18.04	18.38	18.24	13.39	13.27	13.76	15.63	14.63	17.01	13.64	12.81	17.33	87.47	13.34	18.02	15.05
Total Current Liabilities	127.52	116.82	125.79	128.49	117.55	115.16	114.55	114.88	111.16	109.70	103.22	107.51	127.38	126.22	126.09	128.40	116.01
Long-term Debt	172.09	181.35	202.27	189.41	171.87	189.70	199.71	198.43	193.87	183.67	189.34	201.21	200.39	208.81	215.85	211.17	222.31
Total Non-current Liabilities*	216.43	222.25	242.64	226.37	210.24	230.97	240.13	239.78	239.75	230.71	231.45	245.88	233.90	244.93	260.11	257.33	276.35
Total Liabilities	343.95	339.07	368.43	354.87	327.79	346.14	354.67	354.66	350.91	340.41	334.67	353.39	361.28	371.14	386.20	385.73	392.36
Retained Earnings	16.82	9.24	2.96	(10.15)	(13.17)	(15.18)	(21.58)	(27.95)	(26.44)	(16.14)	(16.48)	(14.33)	(18.71)	(23.35)	(17.89)	(21.27)	(27.21)
Total Stockholder Equity	239.96	233.23	227.40	215.85	198.67	205.20	193.15	187.15	185.48	200.19	195.84	186.77	194.00	196.85	200.80	201.44	191.84

* Derived from reported values

Income Statement

(in millions USD) (except per-share rows)

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021
Total Revenue	193.13	169.03	181.46	195.55	185.41	161.62	172.73	182.69	189.77	184.44	182.07	179.35	176.03	168.02	168.22	178.46	179.03	161.66	171.16	174.56
Cost of Revenue*	136.69	124.30	129.97	137.36	131.46	120.72	121.41	128.12	133.66	133.35	128.45	124.97	126.31	121.94	117.28	124.68	125.47	121.77	121.57	122.34
Gross Profit	56.45	44.73	51.48	58.19	53.95	40.89	51.33	54.58	56.12	51.09	53.63	54.38	49.72	46.08	50.94	53.78	53.56	39.89	49.59	52.22
Research & Development	0.24	0.22	0.25	0.21	0.27	0.30	0.30	0.24	0.23	0.34	0.29	0.44	0.51	0.48	0.47	0.45	0.52	0.55	0.58	0.60
Selling, General & Admin	38.72	36.99	30.95	33.48	39.79	35.65	35.37	38.87	40.96	41.19	42.91	39.54	41.48	42.82	42.29	41.59	40.68	42.04	42.76	39.22
Total Operating Expenses	43.50	40.05	38.71	37.81	45.52	41.90	40.87	42.72	44.16	45.54	52.91	59.06	45.83	47.91	45.13	44.67	43.98	44.59	47.29	42.98
Operating Income	12.95	4.68	12.78	20.38	8.43	(1.01)	10.46	11.86	11.96	5.55	0.72	(4.68)	3.89	(1.83)	5.81	9.11	9.58	(4.70)	2.31	9.24
Interest Expense	--	--	--	--	--	--	--	--	--	4.43	4.67	4.17	3.86	4.07	3.72	2.74	2.12	1.94	2.19	2.33
Pretax Income	9.82	2.74	5.63	17.00	4.19	(4.34)	6.54	9.03	7.55	1.12	(3.95)	(8.85)	0.04	(5.90)	2.09	6.38	7.46	(6.64)	0.12	6.91
Tax Provision	2.27	0.38	1.87	3.80	1.06	(1.17)	1.36	2.62	1.17	0.12	(1.45)	1.49	(0.34)	(0.92)	(0.77)	1.99	2.79	(1.28)	0.21	3.51
Net Income	7.58	2.39	3.90	13.11	3.02	(3.19)	5.19	6.40	6.37	1.00	(2.51)	(10.30)	0.34	(4.99)	2.85	4.37	4.64	(5.36)	(0.09)	3.38
Basic EPS	0.24	0.08	0.12	0.42	0.10	(0.10)	--	--	--	0.03	--	--	--	(0.17)	--	--	--	--	--	--
Diluted EPS	0.23	0.07	0.12	0.41	0.10	(0.10)	--	--	--	0.03	--	--	--	(0.17)	--	--	--	--	--	--

* Derived from reported values

Cash Flow Statement

(in millions USD)

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021
Operating Cash Flow	14.91	2.81	32.14	4.46	(9.26)	5.65	25.66	19.36	4.51	0.60	16.06	(7.64)	13.89	4.43	15.88	2.72	13.21	(5.40)	19.79	4.34
Capital Expenditures	4.76	5.97	6.14	8.53	5.45	4.56	3.59	4.72	4.80	4.80	6.45	4.60	5.47	4.33	3.54	2.36	3.63	3.06	3.03	4.94
Free Cash Flow*	10.15	(3.16)	26.00	(4.07)	(14.71)	1.09	22.07	14.64	(0.28)	(4.20)	9.61	(12.24)	8.42	0.10	12.33	0.36	9.58	(8.46)	16.76	(0.60)
Investing Cash Flow	(6.30)	(5.56)	(6.16)	(7.55)	(6.00)	(5.41)	(4.21)	(5.93)	(5.57)	(5.65)	(6.96)	(5.36)	(5.35)	(4.46)	(3.36)	(2.38)	(3.76)	(2.74)	(3.06)	(5.18)
Financing Cash Flow	(10.89)	(0.35)	(26.81)	11.31	15.61	(0.70)	(21.15)	(11.51)	0.13	5.13	(5.87)	9.35	(7.24)	(3.95)	(11.57)	0.30	(9.38)	4.32	(14.38)	4.10

* Derived from reported values