DMC Global Inc 2024年度报告

Form10-K (Mark One) ☒ANNUAL REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES ANDEXCHANGE ACT OF 1934 For the fiscal year endedDecember 31, 2024 ☐TRANSITION REPORT UNDER SECTION13 OR 15(d)OF THE SECURITIES ACT OF 1934 FOR THE TRANSITION PERIOD FROM Commission file number001-14775 DMC Global Inc. (Exact name of Registrant as Specified in its Charter) 84-0608431 (I.R.S. Employer Identification No.) 11800 Ridge Parkway,Suite 300,Broomfield,Colorado80021(Address of principal executive offices, including zip code) (303)665-5700(Registrant’s telephone number, including area code) Securities registered pursuant to Section12(b)of the Act: The Nasdaq Global Select MarketThe Nasdaq Global Select Market Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule405 of the Securities Act.Yeso Nox Indicate by check mark if the registrant is not required to file reports pursuant to Section13 or 15(d)of the Act from their obligationsunder those sections. Yeso Nox Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and(2) has been subject to such filing requirements for the past 90 days.Yes xNo o Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuantto Rule405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant wasrequired to submit and post such files).Yesx No o Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,”and "emerging growth company" in Rule12b-2 of the Exchange Act. Large accelerated filero Non-accelerated filero If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.o Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness ofits internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered publicaccounting firm that prepared or issued its audit report.☒ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrantincluded in the filing reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 under the Act).Yes☐Nox The approximate aggregate market value of the voting stock held by non-affiliates of the registrant was $281,030,947as of June30,2024. The number of shares of Common Stock outstanding was20,241,851as of February18, 2025. Certain information required by Items 10, 11, 12, 13 and 14 of Form10-K is incorporated by reference into PartIII hereof from theregistrant’s proxy statement for its 2025 Annual Meeting of Stockholders, which is expected to be filed with the Securities and ExchangeCommission (“SEC”) within 120 days of the close of the registrant’s fiscal year ended December31, 2024. TABLE OF CONTENTS Item 1.Business2Item 1A.Risk Factors16Item 1B.Unresolved Staff Comments37Item 1C.Cybersecurity38Item 2.Properties38Item 3.Legal Proceedings41Item 4.Mine Safety Disclosures41 PARTI Forward-Looking Statements This Annual Report on Form 10-K and the documents incorporated by reference into it contain certain forward-looking statementswithin the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 (the "Reform Act"). Words such as“anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “may,” “will,” “continue,” “project,” “forecast,” and similarexpressions, as well as statements in the future tense, identify forward-looking statements. Statements addressing events or developmentsthat we expect or anticipate will occur in the future, including statements relating to our future operating performance, any of our businesses’future financial and operational growth or technical and product expansions, the potential acquisition of the 40% minority interest in ArcadiaProducts, LLC ("Arcadia Products"), expected benef