Q2 revenue +18.5% YoY; operating income +31% on tariff refunds and margin expansion

Filed July 21, 2026 · Period ending June 30, 2026 · Compared to 10-Q Jul 23, 2025 · ~1 min read

Key Changes

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  $35.9M IEEPA tariff refund recognized in Q2 after Supreme Court ruled tariffs unlawful; additional refunds uncertain pending CBP review and ongoing litigation. New Section 122 tariffs in place.

  MD&A: IEEPA tariff refunds verify on EDGAR →
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  Antitrust class action trial set for September 14, 2027, providing concrete timeline for resolution of class claims against the company.

  Legal Proceedings verify on EDGAR →
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  Acquired da Vinci and Ion distribution businesses in Italy, Spain, and Portugal for $528M (Q1 2026), transitioning from distributor to direct sales model; driving higher intangible amortization.

  MD&A: Acquisition verify on EDGAR →