Broadwind (NASDAQ:BWEN), a diversified precision manufacturer of specialized components for the energy and mining industries, reported financial results for the fourth quarter and full year ended December 31, 2025.
The company achieved double-digit top-line growth for the year, supported by sustained demand for wind tower fabrication and heavy industrial components.
For the fourth quarter, Broadwind saw revenue increase 12.4% year-over-year to $37.7 million.
While the company reported a GAAP net loss of $0.9 million, or $0.04 per share, for the three-month period, non-GAAP adjusted EBITDA remained positive at $1.9 million.
This quarterly performance reflects the timing of project cycles and the ongoing shift in product mix within the heavy fabrications segment.
On a full-year basis, Broadwind delivered total revenue of $158.1 million, a 10.4% increase over 2024.
The company reported a 2025 GAAP net income of $5.2 million, or $0.23 per share.
Adjusted EBITDA for the year reached $8.7 million, a figure that excludes a $8.2 million gain related to the strategic divestiture of non-core assets completed on September 8, 2025.
Broadwind’s balance sheet remains stable as it enters the new fiscal year, with net debt to trailing-twelve-month adjusted EBITDA at 1.6x.
The company reported total liquidity of approximately $25 million, consisting of cash and availability under its credit facility.
Looking ahead to 2026, management issued a revenue guidance range of $140 million to $150 million, with adjusted EBITDA projected between $8 million and $10 million.