Advanced Drainage Systems Inc 2026年季度报告

ADVANCED DRAINAGE SYSTEMS, INC.(Exact name of registrant as specified in its charter) 4024 Green Stripe Lane, Hilliard, Ohio 43026(Address of Principal Executive Offices, Including Zip 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 Section 13 or 15(d) of the Securities Exchange Act of 1934 during thepreceding 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 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 of Regulation S-T(§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). 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 an emerginggrowth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of theExchange Act. (Check one): 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 new or revisedfinancial 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 Rule 12b-2 of the Exchange Act). Yes☐No☒ As of January29, 2026, the registrant had 77,895,585 shares of common stock outstanding, which excludes 209,197 shares of unvested restricted common stock. Theshares of common stock trade on the New York Stock Exchange under the ticker symbol “WMS.” Item 1.Financial Statements (Unaudited)PageCondensed Consolidated Balance Sheets as of December 31, 2025 and March 31, 20254Condensed Consolidated Statements of Operations for the three and nine months ended December 31, 2025 and20245Condensed Consolidated Statements of Comprehensive Income for the three and nine months ended December31, 2025 and 20246Condensed Consolidated Statements of Cash Flows for the nine months ended December 31, 2025 and 20247Condensed Consolidated Statements of Stockholders’ Equity and Mezzanine Equity for the three and ninemonths ended December 31, 2025 and 20248Notes to the Condensed Consolidated Financial Statements10Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations21Item 3.Quantitative and Qualitative Disclosures About Market Risk28Item 4.Controls and Procedures29PART II. OTHER INFORMATIONItem 1.Legal Proceedings30Item 1A.Risk Factors30Item 2.Unregistered Sales of Equity Securities and Use of Proceeds31Item 3.Defaults Upon Senior Securities31Item 4.Mine Safety Disclosures31Item 5.Other Information31Item 6.Exhibits32Signatures33 Forward-Looking Statements This Form 10-Q includes forward-looking statements. Some of the forward-looking statements can be identified by the use of termssuch as “believes,” “expects,” “may,” “will,” “would,” “should,” “could,” “seeks,” “predict,” “potential,” “target,” “outlook,”“continue,” “intends,” “plans,” “projects,” “estimates,” “anticipates” or other comparable terms or the negative of those terms orsimilar expressions. These forward-looking statements include all matters that are not related to present facts or current conditions orthat are not historical facts. They appear in a number of places throughout this Form 10-Q and include statements regarding ourintentions, beliefs or current expectations concerning, among other things, our consolidated results of operations, financial condition,liquidity, prospects, growth strategies, and the industries in which we operate and include, without limitation, statements relating to ourfuture performance. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which are beyond our control. Wecaution you that forward-looking statements are not guarantees of future performance and that our actual consolidated results ofoperations, financial condition, liquidity and industry development may differ materially from those made in or suggested by theforward-looking statements contained in this Form 10-Q. In addition, even if our actual consolidated results of operations, financialcondition, liquidity and industry development are consistent with the forward-looking statements contained in this Form 10-Q, thoseresults or developments may not be indicative of results or developments in subsequent periods. A number of important factors couldcause actual results to differ materially from those contained in or implied by the forward-looking statements, including those reflectedin forward-looking statements relating to our operations and business, the risks and unc