Elmet Group(NASDAQ) ELMT

The Elmet Group Co. makes specialized metal parts for companies that build planes, medical machines, and defense systems. These components help equipment operate safely in extreme heat or intense electronic environments. Elmet helps the United States maintain a domestic supply of critical materials like tungsten and molybdenum.

What Elmet Group Makes

• Critical Materials Components: Specialized metal parts made from tungsten and molybdenum for aerospace and medical use; generated $57.0 million in revenue for the three months ended July 3, 2026.
• Engineered Microwave Products: High-power systems used in radar, communications, and industrial drying processes; generated $9.4 million in revenue for the three months ended July 3, 2026.

Recent Strategic Milestones

• Acquired H.C. Starck's Coldwater and Euclid units in 2023 to expand its manufacturing footprint.
• Expanded into Germany by acquiring Valvo in 2023 to increase international reach.
• Completed the acquisition of Symphony in Nov. 2025.
• Executed a corporate reorganization on Jan. 2, 2026, to consolidate its primary operating subsidiaries.
• Launched an initial public offering on April 23, 2026, raising $128.2 million in net proceeds.

Why Vertical Integration Matters

Elmet is the only U.S.-owned and U.S.-based manufacturer of highly engineered tungsten and molybdenum products. The company uses a vertically integrated model to control the entire production process from raw metal powder to finished components.

Performance by the Numbers

• Revenue was $66.4 million for the three months ended July 3, 2026, up 35.2% year over year.
• Gross profit reached $16.6 million for the three months ended July 3, 2026, up 63.7% year over year.
• Open order backlog hit $131.6 million as of July 3, 2026, a 55.4% increase compared to June 30, 2025.
• Operating loss was $7.6 million for the three months ended July 3, 2026, compared to an operating income of $3.2 million in the prior year period.
• Cash and cash equivalents totaled $66.1 million as of July 3, 2026.

Bottom Line

Elmet has transformed into a public manufacturer specializing in materials vital for defense and industrial growth. Its vertical integration and focus on domestic production help it navigate global supply chain risks in critical mineral markets.