Compass Group Diversified Holdings LLC 2026年季度报告

Form 10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the quarterly period ended September 30, 2025Or ☐TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period fromto COMPASS DIVERSIFIED HOLDINGS(Exact name of registrant as specified in its charter) 57-6218917(I.R.S. employeridentification number) COMPASS GROUP DIVERSIFIED HOLDINGS LLC(Exact name of registrant as specified in its charter) Delaware001-3492620-3812051(State or other jurisdiction ofincorporation or organization)(Commissionfile number)(I.R.S. employeridentification number) (Address of principal executive office) (203)221-1703 (Registrant's telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the Securities Exchange Act of 1934during the preceding 12months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject to such filingrequirements for the past 90days.YesNo Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 ofRegulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit suchfiles).YesNo Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or anemerging growth company. See the definitions of "large accelerated filer", "accelerated filer", "smaller reporting company", and "emerging growthcompany" in Rule12b-2 of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any newor revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act).Yes☐No As of January 9, 2026, there were 75,235,966 Trust common shares of Compass Diversified Holdings outstanding. COMPASS DIVERSIFIED HOLDINGS QUARTERLY REPORT ON FORM10-QFor the period ended September30, 2025 TABLE OF CONTENTS FORWARD-LOOKING STATEMENTS ITEM 1.FINANCIAL STATEMENTS (UNAUDITED)CONDENSED CONSOLIDATED BALANCE SHEETS7CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS8CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)9CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY10CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS12NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS14 ITEM 2.MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTSOF OPERATIONSITEM 3.QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK ITEM 4.CONTROLS AND PROCEDURES104 PART II. OTHER INFORMATION105ITEM 1.LEGAL PROCEEDINGS105 ITEM 1A.RISK FACTORS NOTE TO READER In reading this Quarterly Report on Form 10-Q, references to: •the “Trust” and “Holdings” refer to Compass Diversified Holdings;•the “LLC” refers to Compass Group Diversified Holdings LLC;•the "Company" refers to Compass Diversified Holdings and Compass Group Diversified Holdings LLC,collectively;•“businesses”, “operating segments”, “subsidiaries” and “reporting units” all refer to, collectively, the businessescontrolled by the Company;•the “Manager” refers to Compass Group Management LLC (“CGM”);•the "TrustAgreement" refers to the Third Amended and Restated TrustAgreement of the Trust dated as of August3, 2021, as further amended;•the "2022 Credit Facility" refers to the third amended and restated credit agreement entered into on July 12, 2022,as further amended, among the LLC, the lenders from time to time party thereto, Bank of America, N.A., asAdministrative Agent, Swing Line Lender and letter of credit issuer (the "agent")•the "2022 Revolving Credit Facility" refers to the revolving loans, swing line loans and letters of credit provided bythe 2022 Credit Facility that matures in 2027;•the "2022 Term Loan" refers to the term loans provided under the the 2022 Credit Facility;•the "LLC Agreement" refers to the Sixth Amended and Restated Operating Agreement of the Company dated asof August 3, 2021, as further amended;•the “Management Services Agreement” or “MSA” refer to the Management Services Agreement with CGMeffective May 16, 2006, as amended; and•"we," "us" and "our" refer to the Trust, the Company and the businesses together. FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q (this “Form 10-Q”), contains both historical and forward-looking statements. We may,in some cases, use words such as "project," "predict," "believe," "anticipate," "plan," "expect," "estimate," "intend,""should," "would," "could," "potentially," "may," or other words that con