ke-20251231

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

(Mark One)

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended December 31, 2025

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission File Number 001-36454


KIMBALL ELECTRONICS, INC.
(Exact name of registrant as specified in its charter)

Indiana

35-2047713

(State or other jurisdiction of

(I.R.S. Employer Identification No.)

incorporation or organization)

1205 Kimball Boulevard, Jasper, Indiana

47546

(Address of principal executive offices)

(Zip Code)

(812) 634-4000



Registrant’s telephone number, including area code
Not Applicable
Former name, former address and former fiscal year, if changed since last report


Securities registered pursuant to Section 12(b) of the Act:
Title of each Class	Trading Symbol	Name of each exchange on which registered
Common Stock, no par value	KE	The Nasdaq Stock Market LLC

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 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 ☒ 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 (Section 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 emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer

☐

Accelerated filer

☒

Emerging growth company

☐

Non-accelerated filer

☐

Smaller reporting company

☐

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 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 Rule 12b-2 of the Exchange Act).

Yes ☐ No ☒

The number of shares outstanding of the Registrant’s common stock as of January 22, 2026 was 24,214,134 shares.

KIMBALL ELECTRONICS, INC.

FORM 10-Q

INDEX


		Page No.

PART I FINANCIAL INFORMATION

	Item 1. Financial Statements
	Condensed Consolidated Balance Sheets - December 31, 2025 (Unaudited) and June 30, 2025	3
	Condensed Consolidated Statements of Income (Unaudited) - Three and Six Months Ended December 31, 2025 and 2024	4
	Condensed Consolidated Statements of Comprehensive Income (Unaudited) - Three and Six Months Ended December 31, 2025 and 2024	5
	Condensed Consolidated Statements of Cash Flows (Unaudited) - Six Months Ended December 31, 2025 and 2024	6
	Condensed Consolidated Statements of Share Owners’ Equity (Unaudited) - Three and Six Months Ended December 31, 2025 and 2024	7
	Notes to Condensed Consolidated Financial Statements (Unaudited)	8
	Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations	23
	Item 3. Quantitative and Qualitative Disclosures About Market Risk	31
	Item 4. Controls and Procedures	31

PART II OTHER INFORMATION

	Item 1. Legal Proceedings	32
	Item 1A. Risk Factors	32
	Item 2. Unregistered Sales of Equity Securities and Use of Proceeds	32
	Item 5. Other Information	32
	Item 6. Exhibits	33

SIGNATURES		34

PART I. FINANCIAL INFORMATION

Item 1. Financial Statements

KIMBALL ELECTRONICS, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(Amounts in Thousands, Except for Share Data)


	(Unaudited)
	December 31, 2025		June 30, 2025
ASSETS
Current Assets:
Cash and cash equivalents	$	77,853	$	88,781
Receivables, net of allowances of $461 and $102, respectively	213,994		222,623
Contract assets	79,521		71,812
Inventories	281,699		273,500
Prepaid expenses and other current assets	32,214		36,027
Assets held for sale	6,610		6,861
Total current assets	691,891		699,604
Property and Equipment, net of accumulated depreciation of $346,022 and $334,465, respectively	276,433		264,804
Goodwill	6,191		6,191
Other Intangible Assets, net of accumulated amortization of $27,972 and $28,227, respectively	2,182		2,427
Other Assets, net	106,774		104,286
Total Assets	$	1,083,471	$	1,077,312

LIABILITIES AND SHARE OWNERS’ EQUITY
Current Liabilities:

Current portion of long-term debt

SEC Form 10-Q filed by Kimball Electronics Inc.