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Cadre Holdings (CDRE) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 4, 2026 · Cadre Holdings (CDRE) Q3 2026 earnings results →
Q3 2026 Revenue up 30% year over year to $203M · 8¢ of every $1 of revenue kept as net profit · operating margin 14.0%
Cadre Holdings made $203M in Q3 2026 (+30% Y/Y). Operating margin 14.0%, net earnings $16.0M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 4, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $202.9M in Q3 2026, up 30% year over year and down 2% from the previous quarter.
Gross margin was 43.4%, up 0.7 points from Q3 2025. Operating profit was $28.4M, a 14.0% margin (up 2.0 points year over year). Of the extra revenue versus Q3 2025, 21% reached operating profit, above the 12% margin then. Operating expenses grew 25% against revenue growth of 30%. The fastest-growing cost line was SG&A (+29%). Net earnings were $16.0M, up 46% year over year. The effective tax rate was 33.2%.
Operating cash flow was $22.9M (up 2% year over year), 143% of net earnings. Non-cash charges added back $6.4M of depreciation and amortization and $5.1M of share-based compensation. Working capital and other items used $4.6M. Capital expenditures of $3.1M left free cash flow of $19.9M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 4, 2026 | $203M | +30% | 14.0% | $16.0M | $22.9M |
| Q2 2026 | 10-Q | Aug 5, 2026 | $207M | +32% | 10.8% | $11.4M | $22.1M |
| Q1 2026 | 10-Q | May 11, 2026 | $155M | +20% | 4.8% | $2.0M | $22.5M |
| Q4 2025 | 10-K | Mar 10, 2026 | $167M | -5% | 12.2% | $11.7M | $21.2M |
| Q3 2025 | 10-Q | Nov 4, 2025 | $156M | +42% | 12.0% | $10.9M | $22.5M |
| Q2 2025 | 10-Q | Aug 5, 2025 | $157M | +9% | 9.3% | $12.2M | $2.6M |
| Q1 2025 | 10-Q | May 6, 2025 | $130M | -6% | 10.4% | $9.2M | $17.4M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Cadre Holdings
We are a global leader in the manufacturing and distribution of safety equipment and other related products for the law enforcement, first responder, military and nuclear markets. Our equipment provides critical protection to allow its users to safely and securely perform their duties and protect those around them in hazardous or life-threatening situations. Through our dedication to superior quality, we establish a direct covenant with end users that our products will perform and keep them safe when they are most needed. We sell a wide range of products including body armor, explosive ordnance disposal equipment , duty gear, remote handling solutions, containers for the storage of radioactive materials, and ventilation and containment solutions through both direct and indirect channels.
In its own words, from its 10-K, filed Mar 10, 2026.
Cadre Holdings against its Orthopedic, Prosthetic & Surgical Appliances & Supplies peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +30% against the peers' median +9%. Operating margin: 14.0% against the peers' median 16.4%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| CDRE Cadre Holdings | Q3 2026 | $203M | +30% | 14.0% |
| ISRG Intuitive Surgical | Q3 2026 | $3.0B | +22% | 19.4% |
| ZBH Zimmer Biomet Holdings | Q3 2026 | $2.1B | +3% | 14.9% |
| EW Edwards Lifesciences | Q3 2026 | $1.7B | +10% | 17.4% |
| STE Steris | Q2 FY27 | $1.6B | +9% | 18.5% |
| ALGN Align Technology | Q3 2026 | $1.0B | +2% | 16.7% |
| ENOV Enovis | Q3 2026 | $559M | +2% | 0.6% |
| MSA MSA Safety | Q3 2026 | $536M | +14% | 16.4% |
| INGN Inogen | Q2 2026 | $95.1M | +3% | -5.4% |
Source: Cadre Holdings 10-Q on SEC EDGAR · CIK 1860543 · Orthopedic, Prosthetic & Surgical Appliances & Supplies
Guidance and outlook
13F: who owns CDRE and who is buying
More on CDRE
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results