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CLOSED · 03:00 ET
Market ClerkRecap
Tue Oct 27 · markets closed1 signal on Oct 26140 insider buys this week · $73.9MCIRO short report next: Oct 30The week ahead

EVI

EVI INDUSTRIES, INC.
NYSE · CONSUMER DISCRETIONARY · SERVICES-PERSONAL SERVICES
20.27
+0.27 +1.35%
USD · close Oct 26
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Work order
43
WATCH · shorts 43
Insiders, 90 days
0
no open-market filings in 90 days
Congress, 90 days
0 / 0
no disclosures naming it
Big money
0 / 15
none of the tracked funds disclose it
Calls on record
0
nobody we score has called it yet
MKT CAP $261MP/E 42.2DIV YIELD 1.63%FCF YIELD 5.15%REV TTM —NET INCOME $7.7M +2.9%NET DEBT $46.3M52W 13.03 – 28.38SEC XBRL · TTM TO Invalid Date

How EVI rewrote its risk factors

10-K ITEM 1A · FY2025 → FY2026
Text kept
43%
of sentences unchanged
Added
199
new sentences
Dropped
200
sentences removed
Length
−709
words, now 19,000

New in FY2026

  • EVI Industries, Inc. and Subsidiaries Index to Consolidated Financial Statements Page Report of Independent Registered Public Accounting Firm ( BDO USA, P.C. ; Miami, Florida ; PCAOB ID # 243 ) Consolidated Balance Sheets at June 30, 2026 and 2025 Consolidated Statements of Operations for the years ended June 30, 2026 and 2025 Consolidated Statements of Shareholders’ Equity for the years ended June 30, 2026 and 2025 Consolidated Statements of Cash Flows for the years ended June 30, 2026 and 2025 Notes to Consolidated Financial Statements Report of Independent Registered Public Accounting Firm Shareholders and Board of Directors EVI Industries, Inc.
  • (the “Company”) as of June 30, 2026 and 2025, the related consolidated statements of operations, shareholders’ equity, and cash flows for each of the years then ended, and the related notes (collectively referred to as the “consolidated financial statements”).
  • In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company at June 30, 2026 and 2025, and the results of its operations and its cash flows for the years then ended , in conformity with accounting principles generally accepted in the United States of America.
  • We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the Company's internal control over financial reporting as of June 30, 2026, based on criteria established in Internal Control – Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) and our report dated September 8, 2026 expressed an unqualified opinion thereon.
  • The primary procedures we performed to address this critical audit matter included: ● Testing the design and operating effectiveness of certain controls over revenue recognition relating to whether and when control of equipment and parts sold, including installation, were transferred to customers. ● Testing revenue transactions on a sample basis by evaluating whether and when control of the equipment and parts sold, including installation, was transferred to customers by obtaining and inspecting: (i) contracts, (ii) invoices, and (iii) shipping documents or evidence of installation, where applicable. /s/ BDO USA, P.C.
  • Miami, Florida September 8, 2026 EVI Industries, Inc. and Subsidiaries Consolidated Balance Sheets (In thousands, except share and per share data) June 30, June 30, 2026 2025 ASSETS Current assets Cash $ 6,774 $ 8,852 Accounts receivable, net of allowance for expected credit losses 56,797 60,494 Inventories, net 66,271 66,059 Vendor deposits 1,267 1,396 Contract assets 632 289 Other current assets 9,258 8,346 Total current assets 140,999 145,436 Equipment and improvements, net 20,099 17,772 Operating lease assets 10,685 10,751 Intangible assets, net 28,859 30,875 Goodwill 93,934 91,667 Other assets 9,919 10,527 Total assets $ 304,495 $ 307,028 The accompanying notes are an integral part of these consolidated financial statements.
  • EVI Industries, Inc. and Subsidiaries Consolidated Balance Sheets (In thousands, except share and per share data) June 30, June 30, 2026 2025 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities Accounts payable and accrued expenses $ 47,577 $ 50,963 Accrued employee expenses 14,511 15,398 Customer deposits 20,094 24,316 Contract liabilities - 408 Current portion of operating lease liabilities 3,899 3,778 Total current liabilities 86,081 94,863 Deferred income taxes, net 9,081 7,691 Long-term operating lease liabilities 8,190 7,997 Long-term debt 51,000 53,000 Total liabilities 154,352 163,551 Commitments and contingencies (Note 14) Shareholders’ equity Preferred stock, $ 1.00 par value; authorized shares – 200,000 ; none issued and outstanding - - Common stock, $ .025 par value; authorized shares – 20,000,000 ; 13,151,783 shares issued at June 30, 2026 and 12,983,872 shares issued at June 30, 2025 including shares held in treasury 329 325 Additional paid-in capital 116,690 111,219 Treasury stock, 276,087 shares, at cost, at June 30, 2026 and 221,879 shares, at cost, at June 30, 2025 ( 6,699 ) ( 5,155 ) Retained earnings 39,823 37,088 Total shareholders’ equity 150,143 143,477 Total liabilities and shareholders’ equity $ 304,495 $ 307,028 The accompanying notes are an integral part of these consolidated financial statements.
  • EVI Industries, Inc. and Subsidiaries Consolidated Statements of Operations (in thousands, except per share data) For the year ended June 30, 2026 2025 Revenues $ 446,570 $ 389,830 Cost of sales 305,846 271,482 Gross profit 140,724 118,348 Selling, general and administrative expenses 125,012 104,580 Operating income 15,712 13,768 Interest expense, net 3,937 2,743 Income before provision for income taxes 11,775 11,025 Provision for income taxes 4,057 3,527 Net income $ 7,718 $ 7,498 Net earnings per share – basic $ 0.51 $ 0.50 Net earnings per share – diluted $ 0.48 $ 0.49 The accompanying notes are an integral part of these consolidated financial statements.
  • EVI Industries, Inc. and Subsidiaries Consolidated Statements of Shareholders ’ Equity (In thousands, except share data) Additional Common Stock Paid-in Treasury Stock Retained Shares Amount Capital Shares Cost Earnings Total Balance at June 30, 2024 12,868,709 $ 322 $ 106,540 184,672 $ ( 4,439 ) $ 34,183 $ 136,606 Share repurchases - - - 37,207 ( 716 ) - ( 716 ) Vesting of restricted shares 108,236 3 ( 3 ) - - - - Issuances of shares under employee stock purchase plan 6,927 - 124 - - - 124 Amount of dividends paid ($0.31 per share) - - - - - ( 4,593 ) ( 4,593 ) Stock compensation - - 4,558 - - - 4,558 Net income - - - - - 7,498 7,498 Balance at June 30, 2025 12,983,872 325 111,219 221,879 ( 5,155 ) 37,088 143,477 Share repurchases - - - 54,208 ( 1,544 ) - ( 1,544 ) Vesting of restricted shares 157,671 4 ( 4 ) - - - - Issuances of shares under employee stock purchase plan 10,240 - 177 - - - 177 Amount of dividends paid ($0.33 per share) - - - - - ( 4,983 ) ( 4,983 ) Stock compensation - - 5,298 - - - 5,298 Net income - - - - - 7,718 7,718 Balance at June 30, 2026 13,151,783 $ 329 $ 116,690 276,087 $ ( 6,699 ) $ 39,823 $ 150,143 The accompanying notes are an integral part of these consolidated financial statements.
  • EVI Industries, Inc. and Subsidiaries Consolidated Statements of Cash Flows (In thousands) Years ended June 30, 2026 2025 Operating activities: Net income $ 7,718 $ 7,498 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 8,109 6,692 Amortization of debt discount - 54 Provision for expected credit losses 1,102 1,052 Non-cash lease expense ( 50 ) 143 Stock compensation 5,298 4,558 Inventory reserve 303 182 Provision (benefit) for deferred income taxes 1,390 ( 821 ) Other 24 ( 87 ) (Increase) decrease in operating assets: Accounts receivable 3,080 ( 11,058 ) Inventories ( 253 ) 211 Vendor deposits 138 261 Contract assets ( 343 ) 1,157 Other assets 1,106 ( 735 ) (Decrease) increase in operating liabilities: Accounts payable and accrued expenses ( 1,383 ) 10,272 Accrued employee expenses ( 887 ) 2,220 Customer deposits ( 4,338 ) ( 742 ) Contract liabilities ( 408 ) 408 Net cash provided by operating activities 20,606 21,265 Investing activities: Capital expenditures ( 7,152 ) ( 4,861 ) Cash paid for acquisitions, net of cash acquired ( 7,182 ) ( 46,925 ) Net cash used by investing activities ( 14,334 ) ( 51,786 ) Financing activities: Dividends paid ( 4,983 ) ( 4,593 ) Proceeds from borrowings 83,000 106,000 Debt repayments ( 85,000 ) ( 66,000 ) Repurchases of common stock in satisfaction of employee tax withholding obligations ( 1,544 ) ( 716 ) Issuances of common stock under employee stock purchase plan 177 124 Net cash (used) provided by financing activities ( 8,350 ) 34,815 Net (decrease) increase in cash ( 2,078 ) 4,294 Cash at beginning of year 8,852 4,558 Cash at end of year $ 6,774 $ 8,852 Supplemental information: Cash paid for interest $ 3,866 $ 2,500 Cash paid for income taxes $ 4,630 $ 2,976 Supplemental disclosure of non-cash investing activities Amounts owed to sellers in connection with acquisitions $ 676 $ 4,181 The accompanying notes are an integral part of these consolidated financial statements.
  • As of June 30, 2026 the Company reported its results of operations through a single operating and reportable segment.
  • During July 2026, the Company announced its plans to expand into the consumer garment care services industry and, in connection therewith, the Company entered into a definitive agreement to acquire Miami, Florida-based Sudsies, Inc.
  • (“Sudsies”), a well-established operator in the garment care sector and one of South Florida's premier garment care businesses.
  • The acquisition was consummated on September 1, 2026.
  • See ""Buy-and-Build" Growth Strategy" below for additional information regarding the acquisition of Sudsies.
  • The Company has established a new division, which will be a separate operating and reportable segment, for its consumer garment care services operations and investments.
  • Historically the businesses acquired by the Company generally distribute commercial, industrial, and vended laundry products and provide installation and maintenance services to the new and replacement segments of the commercial, industrial and vended laundry industry.
  • See Note 3 for information about the acquisitions consummated by the Company during the fiscal year ended June 30, 2026 (“fiscal 2026”) and the fiscal year ended June 30, 2025 (“fiscal 2025”).
  • On September 1, 2026, the Company acquired Sudsies, which marked the Company's entry into the consumer garment care services industry.
  • The total purchase price paid in the transaction was $ 37.4 million in cash, which is subject to post-closing adjustments.
  • Because the acquisition occurred subsequent to June 30, 2026 and shortly before the issuance of these consolidated financial statements, the initial accounting for the transaction is incomplete as of the date of this filing.
  • Accordingly, the Company has not yet determined the fair values of the assets acquired and liabilities assumed, including the amount of goodwill and identifiable intangible assets.
  • The Company expects to complete the purchase price allocation during the measurement period.
  • The financial position, including assets and liabilities, and results of operations of Sudsies following the September 1, 2026 closing date of the acquisition will be included in the Company’s consolidated financial statements commencing in the quarter ending September 30, 2026.
  • Judgment may be required by management in the cost estimation process for these contracts, which is based on the knowledge and experience of the Company’s project managers, subcontractors and financial professionals.
  • These longer-term contracts, and maintenance and service contracts have a single performance obligation where revenue is recognized over time using the cost-to-cost measure of progress, which best depicts the continuous transfer of control of goods or services to the customer.
  • EVI Industries, Inc. and Subsidiaries Notes to Consolidated Financial Statements The Company measures revenue, including shipping and handling fees charged to customers, as the amount of consideration it expects to be entitled to receive in exchange for its goods or services, net of any taxes collected from customers and subsequently remitted to governmental authorities.
  • Revenue from products transferred to customers at a point in time include commercial and vended laundry parts and equipment sales and accounted for approximately 88 % and 87 % of the Company’s revenue for fiscal 2026 and fiscal 2025, respectively.
  • Revenue from products and services that are recognized over time accounted for approximately 12 % and 13 % of the Company’s revenue for fiscal 2026 and fiscal 2025, respectively.
  • Costs, estimated earnings and billings on longer-term contracts when the cost-to-cost method of revenue recognition is utilized as of June 30, 2026 and 2025 consisted of the following (in thousands): June 30, 2026 2025 Costs incurred on uncompleted contracts $ 3,924 $ 275 Estimated earnings 335 147 Less: billings to date ( 3,627 ) ( 647 ) Retainage - 106 Ending balance $ 632 $ ( 119 ) EVI Industries, Inc. and Subsidiaries Notes to Consolidated Financial Statements These amounts are included in the Company’s consolidated balance sheets under the following captions (in thousands): June 30, 2026 2025 Contract assets $ 632 $ 289 Contract liabilities - ( 408 ) Ending balance $ 632 $ ( 119 ) Contract liabilities are generally associated with contracts with durations of less than one year.
  • The Company performed its annual impairment test in the fourth quarter of fiscal 2026 using the qualitative assessment to evaluate relevant events and circumstances such as macroeconomic conditions, cost factors, financial performance, and others.
  • The Company has concluded that there was no impairment of goodwill in fiscal 2026 or fiscal 2025.
  • The Company sells its products primarily to hospitals, nursing homes, government institutions, laundry plants, hotels, motels, vended laundry facilities and distributors and dry cleaning stores and chains.
  • The Company’s allowance for expected credit losses was $ 3.2 million and $ 3.1 million at June 30, 2026 and June 30, 2025, respectively.
  • EVI Industries, Inc. and Subsidiaries Notes to Consolidated Financial Statements Cash The Company’s cash is maintained in bank accounts which bear interest at prevailing interest rates and are covered by Federal Deposit Insurance Corporation (“FDIC“) insurance.
  • The Company established reserves of approximately $ 1.5 million and $ 1.2 million as of June 30, 2026 and 2025, respectively, against slow moving inventory.
  • Capitalized computer software, included as a component of equipment and improvements, net and other assets, in the accompanying consolidated balance sheets, was $ 2.0 million and $ 1.3 million at June 30, 2026 and 2025, respectively.
  • Computer software amortization expense was $ 274,000 and $ 168,000 in fiscal 2026 and fiscal 2025, respectively.
  • EVI Industries, Inc. and Subsidiaries Notes to Consolidated Financial Statements Customer-Related Intangibles, Tradenames and Other Intangible Assets Finite- lived intangibles are amortized over their estimated useful life while indefinite-lived intangibles and goodwill are not amortized.
  • The Company has concluded that there was no impairment of long-lived assets in fiscal 2026 or fiscal 2025.

and 159 more.

Gone since FY2025

  • EVI Industries, Inc. and Subsidiaries Index to Consolidated Financial Statements Page Report of Independent Registered Public Accounting Firm (BDO USA, P.C.; Miami, Florida; PCAOB ID # 243 ) 38 Consolidated Balance Sheets at June 30, 2025 and 2024 40 Consolidated Statements of Operations for the years ended June 30, 2025 and 2024 42 Consolidated Statements of Shareholders’ Equity for the years ended June 30, 2025 and 2024 43 Consolidated Statements of Cash Flows for the years ended June 30, 2025 and 2024 44 Notes to Consolidated Financial Statements 45 Report of Independent Registered Public Accounting Firm Shareholders and Board of Directors EVI Industries, Inc.
  • (the “Company”) as of June 30, 2025 and 2024, the related consolidated statements of operations, shareholders’ equity, and cash flows for each of the years then ended, and the related notes (collectively referred to as the “consolidated financial statements”).
  • In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company at June 30, 2025 and 2024, and the results of its operations and its cash flows for the years then ended , in conformity with accounting principles generally accepted in the United States of America.
  • We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the Company's internal control over financial reporting as of June 30, 2025, based on criteria established in Internal Control – Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) and our report dated September 11, 2025 expressed an unqualified opinion thereon.
  • The primary procedures we performed to address this critical audit matter included: ● Testing the design and operating effectiveness of certain controls over revenue recognition relating to whether and when control of equipment and parts sold, including installation were transferred to customers. ● Testing revenue transactions on a sample basis by evaluating whether and when control of the equipment and parts sold, including installation, were transferred to customers by obtaining and inspecting: (i) contracts, (ii) invoices, and (iii) shipping documents or evidence of installation, where applicable. /s/ BDO USA, P.C.
  • Miami, Florida September 11, 2025 EVI Industries, Inc. and Subsidiaries Consolidated Balance Sheets (In thousands, except share and per share data) ASSETS June 30, 2025 June 30, 2024 Current assets Cash $ 8,852 $ 4,558 Accounts receivable, net of allowance for expected credit losses 60,494 40,932 Inventories, net 66,059 47,901 Vendor deposits 1,396 1,657 Contract assets 1,222 Other current assets 8,346 5,671 Total current assets 145,436 101,941 Equipment and improvements, net 17,772 13,950 Operating lease assets 10,751 8,078 Intangible assets, net 30,875 22,022 Goodwill 91,667 75,102 Other assets 10,527 9,566 Total assets $ 307,028 $ 230,659 The accompanying notes are an integral part of these consolidated financial statements.
  • EVI Industries, Inc. and Subsidiaries Consolidated Balance Sheets (In thousands, except share and per share data) LIABILITIES AND SHAREHOLDERS’ EQUITY June 30, 2025 June 30, 2024 Current liabilities Accounts payable and accrued expenses $ 50,963 $ 30,904 Accrued employee expenses 15,398 11,370 Customer deposits 24,316 24,419 Contract liabilities - Current portion of operating lease liabilities 3,778 3,110 Total current liabilities 94,863 69,803 Deferred income taxes, net 7,691 5,498 Long-term operating lease liabilities 7,997 5,849 Long-term debt, net 53,000 12,903 Total liabilities 163,551 94,053 Commitments and contingencies (Note 14) Shareholders’ equity Preferred stock, $ 1.00 par value; authorized shares – 200,000 ; none issued and outstanding - - Common stock, $ .025 par value; authorized shares – 20,000,000 ; 12,983,872 shares issued at June 30, 2025 and 12,868,709 shares issued at June 30, 2024, including shares held in treasury Additional paid-in capital 111,219 106,540 Treasury stock, 221,879 shares, at cost, at June 30, 2025 and 184,672 shares, at cost, at June 30, 2024 ( 5,155 ) ( 4,439 ) Retained earnings 37,088 34,183 Total shareholders’ equity 143,477 136,606 Total liabilities and shareholders’ equity $ 307,028 $ 230,659 The accompanying notes are an integral part of these consolidated financial statements.
  • EVI Industries, Inc. and Subsidiaries Consolidated Statements of Operations (in thousands, except per share data) For the year ended June 30, 2025 2024 Revenues $ 389,830 $ 353,563 Cost of sales 271,482 248,310 Gross profit 118,348 105,253 Selling, general and administrative expenses 104,580 93,625 Operating income 13,768 11,628 Interest expense, net 2,743 2,744 Income before provision for income taxes 11,025 8,884 Provision for income taxes 3,527 3,238 Net income $ 7,498 $ 5,646 Net earnings per share – basic $ 0.50 $ 0.39 Net earnings per share – diluted $ 0.49 $ 0.37 The accompanying notes are an integral part of these consolidated financial statements.
  • EVI Industries, Inc. and Subsidiaries Consolidated Statements of Shareholders’ Equity (In thousands, except share data) Additional Common Stock Paid-in Treasury Stock Retained Shares Amount Capital Shares Cost Earnings Total Balance at June 30, 2023 12,711,558 $ 318 $ 101,225 134,001 $ ( 3,195 ) $ 32,608 $ 130,956 Share repurchases - - - 50,671 ( 1,244 ) - ( 1,244 ) Vesting of restricted shares 142,814 ( 4 ) - - - - Issuances of shares under employee stock purchase plan 5,716 - - - - Issuances of shares in connection with acquisitions 8,621 - - - - Amount of dividends paid ($ 0.28 per share) - - - - - ( 4,071 ) ( 4,071 ) Stock compensation - - 4,974 - - - 4,974 Net income - - - - - 5,646 5,646 Balance at June 30, 2024 12,868,709 106,540 184,672 ( 4,439 ) 34,183 136,606 Share repurchases - - - 37,207 ( 716 ) - ( 716 ) Vesting of restricted shares 108,236 ( 3 ) - - - - Issuances of shares under employee stock purchase plan 6,927 - - - - Amount of dividends paid ($ 0.31 per share) - - - - - ( 4,593 ) ( 4,593 ) Stock compensation - - 4,558 - - - 4,558 Net income - - - - - 7,498 7,498 Balance at June 30, 2025 12,983,872 $ 325 $ 111,219 221,879 $ ( 5,155 ) $ 37,088 $ 143,477 The accompanying notes are an integral part of these consolidated financial statements.
  • EVI Industries, Inc. and Subsidiaries Consolidated Statements of Cash Flows (In thousands) Years ended June 30, 2025 2024 Operating activities: Net income $ 7,498 $ 5,646 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 6,692 5,983 Amortization of debt discount Provision for expected credit losses 1,052 Non-cash lease expense Stock compensation 4,558 4,974 Inventory reserve (Benefit) provision for deferred income taxes ( 821 ) Other ( 87 ) (Increase) decrease in operating assets: Accounts receivable ( 11,058 ) 7,028 Inventories 11,901 Vendor deposits Contract assets 1,157 ( 41 ) Other assets ( 735 ) 2,476 (Decrease) increase in operating liabilities: Accounts payable and accrued expenses 10,272 ( 8,234 ) Accrued employee expenses 2,220 Customer deposits ( 742 ) 1,017 Contract liabilities ( 668 ) Net cash provided by operating activities 21,265 32,652 Investing activities: Capital expenditures ( 4,861 ) ( 4,867 ) Cash paid for acquisitions, net of cash acquired ( 46,925 ) ( 1,949 ) Net cash used by investing activities ( 51,786 ) ( 6,816 ) Financing activities: Dividends paid ( 4,593 ) ( 4,071 ) Proceeds from borrowings 106,000 62,500 Debt repayments ( 66,000 ) ( 84,500 ) Repurchases of common stock in satisfaction of employee tax withholding obligations ( 716 ) ( 1,244 ) Issuances of common stock under employee stock purchase plan Net cash provided (used) by financing activities 34,815 ( 27,199 ) Net increase (decrease) in cash 4,294 ( 1,363 ) Cash at beginning of year 4,558 5,921 Cash at end of year $ 8,852 $ 4,558 Supplemental information: Cash paid for interest $ 2,500 $ 2,783 Cash paid for income taxes $ 2,976 $ 4,575 Supplemental disclosure of non-cash financing activities Common stock issued for acquisitions $ - $ 229 Supplemental disclosure of non-cash investing activities Amounts owed to sellers in connection with acquisitions $ 4,181 $ - The accompanying notes are an integral part of these consolidated financial statements.
  • The Company reports its results of operations through a single operating and reportable segment.
  • The businesses acquired by the Company generally distribute commercial, industrial, and vended laundry products and provide installation and maintenance services to the new and replacement segments of the commercial, industrial and vended laundry industry.
  • See Note 3 for information about the acquisitions consummated by the Company during the fiscal year ended June 30, 2025 (“fiscal 2025”) and the fiscal year ended June 30, 2024 (“fiscal 2024”), as well as the acquisition consummated by the Company subsequent to the fiscal 2025 year-end.
  • Significant judgment may be required by management in the cost estimation process for these contracts, which is based on the knowledge and experience of the Company’s project managers, subcontractors and financial professionals.
  • These longer-term contracts, and maintenance and service contracts have a single EVI Industries, Inc. and Subsidiaries Notes to Consolidated Financial Statements performance obligation where revenue is recognized over time using the cost-to-cost measure of progress, which best depicts the continuous transfer of control of goods or services to the customer.
  • The Company measures revenue, including shipping and handling fees charged to customers, as the amount of consideration it expects to be entitled to receive in exchange for its goods or services, net of any taxes collected from customers and subsequently remitted to governmental authorities.
  • Revenue from products transferred to customers at a point in time include commercial and vended laundry parts and equipment sales and accounted for approximately 87 % and 83 % of the Company’s revenue for fiscal 2025 and fiscal 2024, respectively.
  • Revenue from products and services that are recognized over time accounted for approximately 13 % and 17 % of the Company’s revenue for fiscal 2025 and fiscal 2024, respectively.
  • EVI Industries, Inc. and Subsidiaries Notes to Consolidated Financial Statements Costs, estimated earnings and billings on longer-term contracts when the cost-to-cost method of revenue recognition is utilized as of June 30, 2025 and 2024 consisted of the following (in thousands): June 30, 2025 2024 Costs incurred on uncompleted contracts $ 275 $ 1,795 Estimated earnings Less: billings to date ( 647 ) ( 1,190 ) Retainage Ending balance $ ( 119 ) $ 1,222 These amounts are included in the Company’s consolidated balance sheets under the following captions (in thousands): June 30, 2025 2024 Contract assets $ 289 $ 1,222 Contract liabilities ( 408 ) - Ending balance $ ( 119 ) $ 1,222 Contract liabilities are generally associated with contracts with durations of less than one year.
  • The Company performed its annual impairment test on April 1, 2025 using the qualitative assessment to evaluate relevant events and circumstances such as macroeconomic conditions, cost factors, financial performance, and others.
  • The Company has concluded that there was no impairment of goodwill in fiscal 2025 or fiscal 2024.
  • The Company sells its products primarily to hospitals, nursing homes, government institutions, laundry plants, hotels, motels, vended laundry facilities and EVI Industries, Inc. and Subsidiaries Notes to Consolidated Financial Statements distributors and dry cleaning stores and chains.
  • The Company’s allowance for expected credit losses was $ 3.1 million and $ 2.1 million at June 30, 2025 and June 30, 2024, respectively.
  • Cash The Company’s cash is maintained in bank accounts which bear interest at prevailing interest rates and are covered by Federal Deposit Insurance Corporation (“FDIC“) insurance.
  • The Company established reserves of approximately $ 1.2 million and $ 1.1 million as of June 30, 2025 and 2024, respectively, against slow moving inventory.
  • Capitalized computer software, included as a component of equipment and EVI Industries, Inc. and Subsidiaries Notes to Consolidated Financial Statements improvements, net and other assets, in the accompanying consolidated balance sheets, was $ 1.3 million and $ 0.8 million at June 30, 2025 and 2024, respectively.
  • Computer software amortization expense was $ 168,000 and $ 189,000 in fiscal 2025 and fiscal 2024, respectively.
  • Customer-Related Intangibles, Tradenames and Other Intangible Assets Finite-lived intangibles are amortized over their estimated useful life while indefinite-lived intangibles and goodwill are not amortized.
  • The Company has concluded that there was no impairment of long-lived assets in fiscal 2025 or fiscal 2024.
  • Earnings Per Share The Company computes earnings per share using the two-class method.
  • During fiscal 2025 and fiscal 2024, the Company granted restricted stock awards of 263,974 and 175,801 shares, respectively, and 139,122 and 85,672 restricted stock units, respectively, under the EVI Industries, Inc. 2015 Equity Incentive Plan, as amended (see Note 17).
  • Basic and diluted earnings per share for fiscal 2025 and fiscal 2024 are computed as follows (in thousands, except per share data): EVI Industries, Inc. and Subsidiaries Notes to Consolidated Financial Statements For the years ended June 30, 2025 2024 Net income $ 7,498 $ 5,646 Less: distributed and undistributed income allocated to non-vested restricted common stock 1,073 Net income allocated to EVI Industries, Inc. shareholders $ 6,425 $ 4,929 Weighted average shares outstanding used in basic earnings per share 12,734 12,650 Dilutive common share equivalents Weighted average shares outstanding used in diluted earnings per share 13,159 13,218 Basic earnings per share $ 0.50 $ 0.39 Diluted earnings per share $ 0.49 $ 0.37 At June 30, 2025, other than 1,445,267 unvested shares subject to restricted stock awards or restricted stock units, there were no potentially dilutive securities outstanding.
  • At June 30, 2024, other than 1,475,740 shares subject to restricted stock awards or restricted stock units, there were no potentially dilutive securities outstanding.
  • The remaining 354,610 shares of restricted common stock were not included in the calculation of diluted earnings per share because their impact was anti-dilutive.
  • Purchases from four manufacturers accounted for a total of approximately 72 % and 73 % of the Company’s product purchases for fiscal 2025 and 2024, respectively.
  • Advertising Costs The Company expenses the cost of advertising as of the first date an advertisement is run.
  • The Company incurred approximately $ 960,000 and $ 852,000 of advertising costs in fiscal 2025 and fiscal 2024, respectively, which are included in selling, general and administrative expenses in the consolidated statements of operations.
  • The Company did not have any assets or liabilities measured at fair value on a nonrecurring basis, other than assets and liabilities from acquisitions, during fiscal 2025 or fiscal 2024.
  • The fair value of the Company’s indebtedness was estimated using Level 2 inputs based on quoted prices for those or similar debt instruments using applicable interest rates as of June 30, 2025 and approximated the carrying value of such debt because it accrues interest at variable rates that are repriced frequently.
  • Income Taxes The Company recognizes income taxes using the asset and liability method.

and 160 more.

Sentence-level comparison of Item 1A in the two most recent 10-Ks (FY2025 ↗, FY2026 ↗). A reworded sentence counts as one dropped and one added, so heavy edits read as low “kept”. Headings and page furniture are stripped; nothing is summarised by a model.

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