Form 8-K
8-K — GENTEX CORP
Accession: 0000355811-26-000044
Filed: 2026-07-24
Period: 2026-07-24
CIK: 0000355811
SIC: 3714 (MOTOR VEHICLE PARTS & ACCESSORIES)
Item: Results of Operations and Financial Condition
Item: Financial Statements and Exhibits
Documents
8-K — gntx-20260724.htm (Primary)
EX-99.1 (exhibit99106302026.htm)
GRAPHIC (gentex-black.jpg)
XML — IDEA: XBRL DOCUMENT (R1.htm)
8-K
8-K (Primary)
Filename: gntx-20260724.htm · Sequence: 1
gntx-20260724
0000355811false00003558112026-07-242026-07-24
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report: July 24, 2026
GENTEX CORPORATION
(Exact name of registrant as specified in its charter)
Michigan
0-10235 38-2030505
(State or other jurisdiction
of incorporation) (Commission
File Number) (IRS Employer
Identification No.)
600 North Centennial Street
Zeeland
Michigan 49464
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (616) 772-1800
_____________________________________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock, par value $0.06 per share GNTX NASDAQ Global Select Market
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth 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. ☐
Section 2. Financial Information
Item 2.02 Results of Operations and Financial Condition.
(a)On July 24, 2026 Gentex Corporation issued a news release announcing financial results for the second quarter ended June 30, 2026. A copy of the news release is attached as Exhibit 99.1 to the Form 8-K.
The information in this Form 8-K and the attached Exhibit shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing.
Section 9. Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits.
(d) Exhibit
99.1 – News Release Dated July 24, 2026.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Date: July 24, 2026
GENTEX CORPORATION
(Registrant)
By /s/ Kevin C. Nash
Kevin C. Nash
Vice President - Finance and Chief Financial Officer
EXHIBIT INDEX
99.1 News Release Dated July 24, 2026
EX-99.1
EX-99.1
Filename: exhibit99106302026.htm · Sequence: 2
Document
Exhibit 99.1
GENTEX REPORTS SECOND QUARTER 2026 FINANCIAL RESULTS
ZEELAND, MI -- (GLOBE NEWSWIRE - July 24, 2026) - Gentex Corporation (NASDAQ: GNTX), a leading supplier of digital vision, connected car, dimmable glass, fire protection technologies, medical devices, and consumer electronics, today reported financial results for the three and six months ended June 30, 2026.
Second Quarter 2026 Highlights
•Net sales of $651.3 million
•Gross margin of 37.0%, an increase of 280 basis points from second quarter 2025 and 320 basis points from first quarter 2026.
•Income from operations (GAAP) $141.3 million; adjusted income from operations (non-GAAP) $141.7 million
•Net income attributable to Gentex (GAAP) $114.7 million; adjusted net income (non‑GAAP) $122.9 million
•Earnings per diluted share attributable to Gentex (GAAP) $0.54; adjusted earnings per diluted share (non‑GAAP) $0.58
•Share repurchases: 2.7 million shares repurchased during the quarter for a total of $66.0 million
Financial Summary
For the second quarter of 2026, the Company reported net sales of $651.3 million, a 1% decrease compared to net sales of $657.9 million in the second quarter of 2025. Automotive revenue declined approximately 3% quarter over quarter, reflecting lower revenue in Europe, Japan/Korea, and China, which was mostly offset by strength in North America. In addition, revenue from the Company's Other Products category provided meaningful growth, led by a 16% quarter over quarter increase in Premium Audio revenue to $51.7 million, while Aerospace, Biometrics, Fire Protection, and Automotive Aftermarket revenue collectively increased by approximately 12% quarter over quarter.
"Our second quarter results demonstrate the importance of our strategy to grow through technology, product mix, and diversification," said Steve Downing, President and CEO. "While total mirror unit shipments and revenues came in approximately 3% and 5% below our beginning-of-quarter forecast,
respectively, our results benefited from strong North American performance, higher content per vehicle in Europe, and continued growth from our non-automotive product lines. In Europe, new DMS and ICMS launches continued to gain traction during the quarter, helping limit the impact of a 26% quarter over quarter decline in international interior mirror unit shipments. Since the beginning of the tariff wars, we have continued to be impacted by pressure in China, where revenue declined approximately 20% quarter over quarter. Outside of automotive, Premium Audio revenue increased approximately 16% quarter over quarter, while our Other Products category collectively grew approximately 12% in the same period. In total, non-automotive revenue was approximately 14% of the Company's total revenue for the quarter. These results reinforce the benefits of our diversification strategy and our confidence in the long-term opportunities to expand both our technology portfolio and revenue base, inside automotive and in other markets."
For the second quarter of 2026, the Company's gross margin was 37.0%, compared to a gross margin of 34.2% for the second quarter of 2025, representing a 280 basis-point increase over the second quarter of last year. When compared with the second quarter of 2025, the Company's gross margin was favorably impacted by approximately $18 million of IEEPA tariff reimbursements received during the quarter that reduced cost of goods sold and favorable product mix, which were partially offset by commodity cost increases and the reduction in overall sales levels, compared to the second quarter of last year. “We delivered very strong gross margin performance during the second quarter, on both a quarter over quarter and sequential basis,” commented Downing. “Of the approximately $38 million of IEEPA tariff reimbursements received during the quarter, approximately $18 million reduced cost of goods sold and favorably impacted gross margin. Beyond that benefit, gross margin also improved sequentially by approximately 50 basis points from the first quarter of 2026, despite lower automotive revenue, ongoing non-IEEPA tariff costs, and significantly higher precious metals costs. The improvement was driven by favorable product mix, disciplined operational execution, and improved profitability within the Other Products categories.”
Consolidated operating expenses during the second quarter of 2026 were $99.7 million, compared to operating expenses of $106.8 million in the second quarter of 2025. The decrease was primarily due to prior year severance costs. On a non-GAAP basis, adjusted operating expenses were
$99.3 million in the second quarter of 2026, compared to $97.5 million in the second quarter of 2025. "The second quarter highlighted the strength of our teams and our ability to execute across a broad range of strategic growth initiatives," said Gentex COO and CTO Neil Boehm. "We continue to support a growing number of advanced technology launches, including FDM, DMS, ICMS, and dimmable devices, while maintaining a disciplined focus on cost management. As these technologies gain more traction, we believe the Company's investments in innovation, automation, and operational efficiency position us to support our future growth initiatives, while effectively managing operating expenses."
Income from operations for the second quarter of 2026 was $141.3 million, up 19% compared to income from operations of $118.5 million for the second quarter of 2025. On a non-GAAP basis, Gentex adjusted income from operations was $141.7 million in the second quarter of 2026, compared to $130.3 million in the second quarter of 2025.
Total other loss was $4.5 million during the second quarter of 2026, compared to a loss of $3.0 million in the second quarter of 2025. The quarter over quarter increase was primarily driven by credit loss reserves related to certain loans receivable and impairment charges on equity and other technology investments, partially offset by higher investment income and gains on asset sales.
During the second quarter of 2026, the Company had an effective tax rate of 16.5%, compared to an effective tax rate of 17.2% during the second quarter of 2025.
Net income attributable to Gentex for the second quarter of 2026 was $114.7 million, up 19% compared to $96.0 million in the second quarter of 2025. Non-GAAP net income attributable to Gentex was $122.9 million in the second quarter of 2026, compared to $110.9 million in the second quarter of 2025.
Earnings per diluted share attributable to Gentex for the second quarter of 2026 were $0.54, compared to earnings per diluted share of $0.43 for the second quarter of 2025. On a non-GAAP basis, adjusted earnings per diluted share attributable to Gentex were $0.58 for the second quarter of 2026, compared to $0.50 for the second quarter of 2025. “While revenue during the quarter was below our forecast, our disciplined approach to managing the business delivered record second-quarter earnings per share of $0.54, an increase of 26% compared to the second quarter of 2025. Our strategy remains consistent: find new opportunities for growth despite the difficult market conditions, continue to expand
and stabilize gross margins, tightly manage operating expenses, and deploy capital in a disciplined manner. We believe this approach will continue to drive earnings growth, strong cash generation, and long-term shareholder value, while we are also actively investing in the largest number of new products, technologies, and markets in the Company's history," said Downing.
Segment Revenue
Automotive
Automotive net sales were $560.1 million in the second quarter of 2026, down from $578.1 million in the second quarter of 2025. The quarter over quarter decrease primarily reflects lower light vehicle production and reduced base auto-dimming mirror unit shipments. Despite these headwinds, favorable product mix, new technology launches, and continued content gains with customers were able to partially offset the decline.
Premium Audio
Net sales from the Premium Audio category were $51.7 million in the second quarter of 2026, compared to $44.5 million in the second quarter of 2025, an increase of approximately 16%. Growth was driven primarily by strong performance from the Powered Systems and Onkyo brands, supported by new product introductions and continued demand across premium audio categories.
Other Products
Net sales from the Other Products category, which includes aerospace products, fire protection devices, medical technologies, biometric solutions and automotive aftermarket products, were $39.4 million, which was a 12% increase compared to the second quarter of 2025. This growth was primarily driven by strong performance in aerospace products, as well as continued growth in biometric and accessory product revenues. These gains were partially offset by lower automotive aftermarket sales.
Share Repurchases
During the second quarter of 2026, the Company repurchased 2.7 million shares of its common stock at an average price of $24.48 per share, for a total of $66.0 million. Year-to-date, the Company has repurchased 5.9 million shares for a total of $137.6 million, at an average price of $23.13 per share. As of June 30, 2026, the Company has approximately 29.9 million shares remaining available for repurchase pursuant to its previously announced share repurchase plan. The Company intends to continue to
repurchase additional shares of its common stock in the future in support of the previously disclosed capital allocation strategy, but share repurchases will vary from time to time and will take into account macroeconomic issues, market trends, and other factors that the Company deems appropriate.
Future Estimates
The Company’s light vehicle production assumptions for the third quarter of 2026 and calendar years 2026 and 2027 are based on the mid-July 2026 Mobility Global outlook for North America, Europe, Japan/Korea, and China. Based on this outlook, global light vehicle production is expected to decline approximately 2% in the third quarter of 2026, compared to the same prior-year period and approximately 3% for the full year 2026, compared to 2025. While global light vehicle production is currently expected to be relatively flat in 2027, the Company expects continued weakness in the Company’s primary automotive markets of North America, Europe, and Japan/Korea with any forecasted growth coming from emerging markets. Forecasted vehicle production volumes for the third quarter of 2026 and calendar years 2026 and 2027 are shown below.
Light Vehicle Production ( Mobility Global mid-July light vehicle production forecast)
(in Millions)
Region Q3 2026 Q3 2025 % Change Calendar Year 2027 Calendar Year 2026 Calendar Year 2025 2027 vs 2026
% Change 2026 vs 2025
% Change
North America 3.87 3.97 (3) % 15.02 15.06 15.27 — % (1) %
Europe 3.85 3.87 (1) % 16.88 16.90 17.05 — % (1) %
Japan and Korea 2.92 2.93 — % 11.42 11.95 12.07 (4) % (1) %
China 8.11 8.36 (3) % 31.93 31.58 33.10 1 % (5) %
Total Light Vehicle Production 18.75 19.13 (2) % 75.25 75.49 77.49 — % (3) %
Based on actual results through the first six months of 2026, the updated Mobility Global light vehicle production forecast, and the Company’s expectations for its Automotive, Premium Audio, and Other Products category, the Company is updating certain elements of its full-year 2026 guidance as noted below. The updated guidance reflects the anticipated impact of all known tariffs effective as of July 24, 2026.
2026 Annual Guidance (as of July 24, 2026)
•Consolidated Revenue: $2.65 – $2.75 billion (no change)
•Gross Margin: 34.5% – 35.5% (previously 34% - 35%)
•Operating Expenses (excluding severance and impairments): $405 – $415 million (previously $410 - $420m)
•Tax Rate: 16% – 17% (previously 16% -18%)
•Capital Expenditures: $115 – $125 million (previously $125 - $140 million)
•Depreciation & Amortization: $100 – $110 million (no change)
2027 Revenue Guidance
Based on the mid-July 2026 Mobility Global light vehicle production forecast and the Company's expectations for Automotive, Premium Audio, and Other Products revenue, the Company continues to expect calendar-year 2027 revenue to range between $2.80 and $2.90 billion.
Closing Remarks
"As we entered 2026, we knew geopolitical challenges would continue to pressure our business in China, and we also expected ongoing headwinds within our base mirror business. As a result, we anticipated that revenue growth would be more subdued than what we've historically delivered. Despite those challenges, the execution of our team has been some of the best I have seen during my time leading this Company. Across the organization, we continue to launch, develop, invent, and commercialize new technologies at a pace unmatched in our history, while maintaining a relentless focus on profitability, operational efficiency, and capital discipline. Concurrently, we have worked hard together with the VOXX team to improve VOXX's financial performance and we are well on our way to achieve the profitability targets we established post-acquisition. Similar to the Gentex team, the VOXX and PAC teams have recently developed several new product categories and developed business relationships with attractive long-term growth potential, to become meaningful contributors to our overall profitability only fifteen months after acquisition. Together, we are proving to be formidable competitors in our relevant industries. Our continued focus on quality, operational excellence, gross margin expansion, operating expense management, and capital allocation have enabled us to deliver strong earnings performance
despite a challenging environment. Looking ahead, we believe the Company is well positioned to have a solid second half of 2026 with growth continuing into 2027 and 2028. Many of the investments we have made over the last several years in new products and technologies, including dimmable visors and sunroofs, our fourth-generation FDM, DMS/ICMS, advanced manufacturing capabilities, and other market expansion opportunities, are expected to begin contributing more meaningfully to revenue growth. When combined with our continued focus on operational excellence and financial discipline, we believe these investments will drive future growth to create significant long-term shareholder value," concluded Downing.
Safe Harbor for Forward-Looking Statements
This news release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The statements contained in this communication that are not purely historical are forward-looking statements. Forward-looking statements give the Company’s current expectations or forecasts of future events. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “future,” “goal,” “guidance,” “hope,” “intend,” "likely", “may,” “opinion,” “optimistic,” “plan,” “poised,” “predict,” “project,” “should,” “strategy,” “target,” “will,” "work to," and variations of such words and similar expressions. Such statements are subject to risks and uncertainties that are often difficult to predict and beyond the Company’s control and could cause the Company’s results to differ materially from those described. These risks and uncertainties include, without limitation: changes in general industry or regional market conditions, including the impact of inflation; changes in consumer and customer preferences for our products (such as cameras replacing mirrors and/or autonomous driving); our ability to be awarded new business; continued uncertainty in pricing negotiations with customers and suppliers; loss of business from increased competition; changes in strategic relationships; customer bankruptcies or divestiture of customer brands; fluctuation in vehicle production schedules (including the impact of customer employee strikes); changes in product mix; raw material and other supply shortages; labor shortages, supply chain constraints and disruptions; our dependence on information systems; higher raw material, fuel, energy and other costs; unfavorable fluctuations in currencies or interest rates
in the regions in which we operate; costs or difficulties related to the integration and/or ability to maximize the value of any new or acquired technologies and businesses; changes in regulatory conditions; warranty and recall claims and other litigation and customer reactions thereto; possible adverse results of pending or future litigation or infringement claims; changes in tax laws; import and export duty and tariff rates and uncertainties in or with the countries with which we conduct business; negative impact of any governmental investigations and associated litigation, including securities litigation relating to the conduct of our business; and force majeure events. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made.
The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law or the rules of the NASDAQ Global Select Market. Accordingly, any forward-looking statement should be read in conjunction with the additional information about risks and uncertainties identified under the heading “Risk Factors” in the Company’s latest Form 10-K and Form 10-Q filed with the SEC, which risks and uncertainties include tariffs and supply chain constraints that have affected, are affecting, and will continue to affect, general economic and industry conditions, customers, suppliers, and the regulatory environment in which the Company operates. Includes content supplied by Mobility Global Light Vehicle Production Forecast of July 16, 2026 (http://www.gentex.com/forecast-disclaimer).
Second Quarter Conference Call
A conference call related to this news release will be simulcast live on the Internet beginning at 9:30 a.m. ET today, July 24, 2026. Participants who wish to ask questions may register for the call at https://register-conf.media-server.com/register/BI04159734f80b4251b4b548ae7f443098. It is recommended that participants join 10 minutes prior to the event start, although they may register ahead of the call and dial in at any time during the call. Participants may listen to the call via audio streaming https://edge.media-server.com/mmc/p/wmvxyyhw. A webcast replay will be available approximately 24
hours after the conclusion of the call at http://ir.gentex.com/events-and-presentations/upcoming-past-events.
About the Company
Founded in 1974, Gentex Corporation (The NASDAQ Global Select Market: GNTX) is a leading supplier of digital vision, connected car, dimmable glass, fire protection technologies, medical devices, and consumer electronics. Visit the Company’s web site at www.gentex.com.
Contact Information:
Gentex Investor & Media Contact
Josh O'Berski
616.931.3505
Exhibit 99.1
GENTEX CORPORATION
AUTO-DIMMING MIRROR SHIPMENTS
(Thousands)
Three Months Ended June 30, Six Months Ended June 30,
2026 2025 % Change 2026 2025 % Change
North American Interior Mirrors 2,349 2,221 6 % 4,621 4,470 3 %
North American Exterior Mirrors 1,627 1,524 7 % 3,028 2,895 5 %
Total North American Mirror Units 3,976 3,746 6 % 7,649 7,365 4 %
International Interior Mirrors 3,928 5,313 (26) % 8,438 10,453 (19) %
International Exterior Mirrors 2,511 2,517 — % 5,182 5,300 (2) %
Total International Mirror Units 6,439 7,830 (18) % 13,620 15,753 (14) %
Total Interior Mirrors 6,277 7,534 (17) % 13,059 14,923 (12) %
Total Exterior Mirrors 4,138 4,041 2 % 8,210 8,194 — %
Total Auto-Dimming Mirror Units 10,416 11,575 (10) % 21,269 23,118 (8) %
Note: Percent change and amounts may not total due to rounding.
Exhibit 99.1
GENTEX CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(Unaudited) (Unaudited)
Three Months Ended June 30, Six Months Ended June 30,
2026 2025 2026 2025
Net Sales 651,299,705 657,858,210 1,326,742,831 1,234,631,300
Cost of Goods Sold 410,301,978 432,567,307 857,118,190 817,606,810
Gross Profit 240,997,727 225,290,903 469,624,641 417,024,490
Engineering, Research & Development 49,259,001 51,471,277 100,911,620 97,395,641
Selling, General & Administrative 50,037,461 48,515,355 99,829,295 78,448,360
Impairment Charges — — 2,800,000 —
Severance Expense 362,871 6,784,136 1,085,413 9,673,248
Operating Expenses 99,659,333 106,770,768 204,626,328 185,517,249
Income from Operations 141,338,394 118,520,135 264,998,313 231,507,241
Other Income/(Loss) (4,509,704) (3,049,996) (10,122,061) (2,409,520)
Income (Loss) Before Income Taxes 136,828,690 115,470,139 254,876,252 229,097,721
Income Tax Provision 22,644,919 19,819,689 42,271,422 38,573,226
Net Income (Loss) 114,183,771 95,650,450 212,604,830 190,524,495
Less: Net Income (Loss) attributable to non-controlling interest 505,646 (389,134) 539,730 (389,134)
Net Income (Loss) Attributable to Gentex Corporation $ 114,689,417 $ 96,039,584 $ 213,144,560 $ 190,913,629
Earnings Per Share Attributable to Gentex Corporation(1)
Basic $ 0.54 $ 0.43 $ 0.99 $ 0.85
Diluted $ 0.54 $ 0.43 $ 0.99 $ 0.85
Cash Dividends Declared per Share $ 0.12 $ 0.12 $ 0.24 $ 0.24
(1) Earnings Per Share has been adjusted to exclude the portion of net income allocated to participating securities as a result of share-based payment awards.
Exhibit 99.1
GENTEX CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
June 30, 2026 December 31, 2025
(Unaudited) (Note)
ASSETS
Cash and Cash Equivalents $ 233,444,229 $ 145,645,715
Short-Term Investments 9,366,704 5,386,566
Accounts Receivable, net 386,338,964 368,517,569
Inventories, net
518,950,411 516,253,617
Other Current Assets 101,183,924 92,631,001
Total Current Assets 1,249,284,232 1,128,434,468
Plant and Equipment - Net 780,173,903 790,935,378
Goodwill 360,849,822 357,211,919
Long-Term Investments 238,487,553 272,975,939
Intangible Assets, net 184,618,279 189,341,387
Deferred Tax Asset
112,638,362 108,338,592
Patents and Other Assets, net 91,729,143 81,355,151
Total Other Assets 988,323,159 1,009,222,988
Total Assets $ 3,017,781,294 $ 2,928,592,834
LIABILITIES AND SHAREHOLDERS' INVESTMENT
Current Liabilities $ 423,470,023 $ 387,542,969
Other Non-current Liabilities 52,468,099 49,209,006
Deferred Income Taxes 909,631 908,922
Redeemable Non-controlling Interest
2,832,783 3,102,213
Shareholders' Investment 2,538,100,758 2,487,829,724
Total Liabilities & Shareholders' Investment $ 3,017,781,294 $ 2,928,592,834
Note: The condensed consolidated balance sheet at December 31, 2025 has been derived from the audited consolidated financial statements at that date, but does not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements.
Exhibit 99.1
GENTEX CORPORATION AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP MEASURES
(Unaudited)
In this press release, the Company has provided information regarding certain non-GAAP financial measures, which are reconciled to their closest GAAP financial measure in the following schedules. Use of the term "adjusted" or "excluding" in connection with a financial measure identifies and reflects a non-GAAP financial measure.
Beginning in the first quarter of 2026, the Company revised its non-GAAP presentation to include Adjusted Other (Loss) Income. As a result, prior-period non-GAAP measures presented herein have been revised to conform to the current presentation. Management believes the revised presentation enhances period-over-period comparability and provides investors with a more consistent view of the Company's performance. These revisions affect only the presentation of non-GAAP financial measures and do not affect the Company's previously reported GAAP results.
Non-GAAP Financial Measures: The Company has presented Adjusted Operating Expenses, Adjusted Income from Operations, and Adjusted Other (Loss) Income as supplemental measures of the Company's performance. Current quarter Adjusted Operating Expenses, Adjusted Income from Operations, and Adjusted Other (Loss) Income exclude impairment charges, acquisition related costs, and severance costs set forth in the table below.
Exhibit 99.1
(Unaudited)
Three Months Ended June 30,
Consolidated 2026 Consolidated 2025
Gross Profit - GAAP
$ 240,997,727 $ 225,290,903
Inventory Purchase Price Step-up Adjustment Pursuant to ASC 805 — 2,498,442
Adjusted Gross Profit - (Non-GAAP)
$ 240,997,727 $ 227,789,345
Gross Margin - GAAP
37.0 % 34.2 %
Adjusted Gross Margin - (Non-GAAP)
37.0 % 34.6 %
Operating Expenses - GAAP
$ 99,659,333 $ 106,770,768
Less:
Acquisition Related Costs
— 2,473,051
Severance Costs
362,871 6,784,136
Adjusted Operating Expenses - (Non-GAAP)
$ 99,296,462 $ 97,513,581
Income from Operations - GAAP
$ 141,338,394 $ 118,520,135
Less:
Inventory Purchase Price Step-up Adjustment Pursuant to ASC 805 — 2,498,442
Acquisition Related Costs
— 2,473,051
Severance Costs
362,871 6,784,136
Adjusted Income from Operations - (Non-GAAP)
$ 141,701,265 $ 130,275,764
Other (Loss) Income - GAAP
$ (4,509,704) $ (3,049,996)
Less:
Impairment Charge - Technology Investment
(9,423,773) (6,182,000)
Adjusted Other (Loss) Income - (Non-GAAP)
$ 4,914,069 $ 3,132,004
Exhibit 99.1
Adjusted Net Income and Adjusted Earnings per Share: Adjusted Net Income and Adjusted Earnings per Share are presented as supplemental measures of the Company's performance. Adjusted Net Income is defined as Net Income adjusted for impairment charges, acquisition related costs, and severance costs during the second quarter of 2026 and second quarter of 2025. Adjusted Earnings per Share is defined as Adjusted Net Income divided by weighted average diluted shares outstanding.
(Unaudited)
Three Months Ended June 30,
2026 Consolidated 2025 Consolidated
Net Income Attributable to Gentex Corporation - GAAP
$ 114,689,417 $ 96,039,584
Inventory purchase price step-up adjustments pursuance to ASC 805, net of tax
— 2,068,710
Acquisition Related Costs, net of tax
— 2,047,686
Severance Costs, net of tax
302,816 5,617,265
Impairment Charges - Technology Investment, net of tax 7,864,154 5,118,696
Net Income (Loss) Attributable to Gentex Corporation - (Non-GAAP)
$ 122,856,387 $ 110,891,941
Adjusted Earnings Per Share:
Basic
$ 0.58 $ 0.50
Diluted
$ 0.58 $ 0.50
The Company believes that the presentation of these non-GAAP financial measures provides insight into the Company's core performance and trends with respect to the same. Management of the Company similarly uses such non-GAAP financial measures in assessing the business internally.
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v3.26.1
Document and Entity Information
Jul. 24, 2026
Cover [Abstract]
Document Type
8-K
Document Period End Date
Jul. 24, 2026
Entity Registrant Name
GENTEX CORPORATION
Entity Central Index Key
0000355811
Amendment Flag
false
Entity Incorporation, State or Country Code
MI
Entity File Number
0-10235
Entity Tax Identification Number
38-2030505
Entity Address, Address Line One
600 North Centennial Street
Entity Address, City or Town
Zeeland
Entity Address, State or Province
MI
Entity Address, Postal Zip Code
49464
City Area Code
616
Local Phone Number
772-1800
Written Communications
false
Soliciting Material
false
Pre-commencement Tender Offer
false
Pre-commencement Issuer Tender Offer
false
Title of 12(b) Security
Common Stock, par value $0.06 per share
Trading Symbol
GNTX
Security Exchange Name
NASDAQ
Entity Emerging Growth Company
false
X
- Definition
Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.
+ References
No definition available.
+ Details
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- Definition
Area code of city
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No definition available.
+ Details
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- Definition
Cover page.
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No definition available.
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- Definition
For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.
+ References
No definition available.
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Name:
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Period Type:
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- Definition
The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.
+ References
No definition available.
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Name:
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Namespace Prefix:
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Data Type:
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Balance Type:
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Period Type:
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X
- Definition
Address Line 1 such as Attn, Building Name, Street Name
+ References
No definition available.
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Name:
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Namespace Prefix:
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Balance Type:
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X
- Definition
Name of the City or Town
+ References
No definition available.
+ Details
Name:
dei_EntityAddressCityOrTown
Namespace Prefix:
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Data Type:
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Balance Type:
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Period Type:
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X
- Definition
Code for the postal or zip code
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No definition available.
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Name:
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Namespace Prefix:
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Data Type:
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Balance Type:
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Period Type:
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X
- Definition
Name of the state or province.
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No definition available.
+ Details
Name:
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Namespace Prefix:
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Balance Type:
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Period Type:
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X
- Definition
A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
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Period Type:
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X
- Definition
Indicate if registrant meets the emerging growth company criteria.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
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- Definition
Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.
+ References
No definition available.
+ Details
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Balance Type:
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Period Type:
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X
- Definition
Two-character EDGAR code representing the state or country of incorporation.
+ References
No definition available.
+ Details
Name:
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Namespace Prefix:
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Data Type:
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Period Type:
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- Definition
The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
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- Definition
The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
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Period Type:
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- Definition
Local phone number for entity.
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No definition available.
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Data Type:
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Balance Type:
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- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 13e
-Subsection 4c
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Namespace Prefix:
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Data Type:
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Balance Type:
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Period Type:
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- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 14d
-Subsection 2b
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Balance Type:
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- Definition
Title of a 12(b) registered security.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b
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Namespace Prefix:
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Balance Type:
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Period Type:
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X
- Definition
Name of the Exchange on which a security is registered.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection d1-1
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Name:
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Balance Type:
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Period Type:
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X
- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 14a
-Subsection 12
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Data Type:
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Balance Type:
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X
- Definition
Trading symbol of an instrument as listed on an exchange.
+ References
No definition available.
+ Details
Name:
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Namespace Prefix:
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Balance Type:
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Period Type:
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X
- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Securities Act
-Number 230
-Section 425
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