Form 8-K

8-K — LAKELAND INDUSTRIES INC

Accession: 0001193125-26-159019

Filed: 2026-04-16

Period: 2026-04-16

CIK: 0000798081

SIC: 3842 (ORTHOPEDIC, PROSTHETIC & SURGICAL APPLIANCES & SUPPLIES)

Item: Results of Operations and Financial Condition

Item: Regulation FD Disclosure

Item: Financial Statements and Exhibits

Documents

8-K — lake-20260416.htm (Primary)

EX-99.1 (lake-ex99_1.htm)

EX-99.2 (lake-ex99_2.htm)

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8-K

8-K (Primary)

Filename: lake-20260416.htm · Sequence: 1

8-K

0000798081false00007980812026-04-162026-04-16

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 16, 2026

Lakeland Industries, Inc.

(Exact name of Registrant as Specified in Its Charter)

Delaware

000-15535

13-3115216

(State or Other Jurisdiction

of Incorporation)

(Commission File Number)

(IRS Employer

Identification No.)

1525 Perimeter Parkway, Suite 325

Huntsville, Alabama

35806

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s Telephone Number, Including Area Code: 256 350-3873

(Former Name or Former Address, if Changed Since Last Report)

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:

☐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, $0.01 Par Value

LAKE

The Nasdaq Stock 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. ☐

Item 2.02 Results of Operations and Financial Condition.

On April 16, 2026, Lakeland Industries, Inc. (the “Company”) issued a press release announcing its financial results for the fourth quarter and year ended January 31, 2026. A copy of the press release is attached hereto as Exhibit 99.1.

Item 7.01 Regulation FD Disclosure.

The information set forth in Item 2.02, above, is incorporated by reference into this Item 7.01.

In addition, a copy of the supplemental slides which will be discussed during the Company’s earnings call at 4:30 p.m. ET on Thursday April 16, 2026 is attached to this report as Exhibit 99.2 and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit

Number

Description

99.1

Press Release, dated April 16, 2026

99.2

Supplemental slides provided in connection with the FY2026 earnings call of the Company.

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

The information included in this Current Report on Form 8-K (including Exhibits 99.1 and 99.2 hereto) is being “furnished” in accordance with Item 2.02 and Item 7.01 and shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of such section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

SIGNATURES

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 hereunto duly authorized.

LAKELAND INDUSTRIES, INC.

Date:

April 16, 2026

By:

/s/ J. Calven Swinea

J. Calven Swinea

Chief Financial Officer and Secretary

EX-99.1

Filename: lake-ex99_1.htm · Sequence: 2

EX-99.1

Exhibit 99.1

Lakeland Fire + Safety Reports Fiscal Fourth Quarter and Full Year 2026 Financial Results

Q4 FY26 Net Sales of $45.8 Million; FY26 Net Sales Increased 15% to $192.6 Million Driven by 49% Growth in Fire Services

Delivers Operating Cash Flow in Q4 FY26, Demonstrating Improved Operating Discipline

Completed Divestiture of HPFR and HiViz Product Lines for Approximately $14 Million in Cash Proceeds in March 2026

Received All NFPA 1970 Certifications for Head-to-Toe Fire Portfolio Enabling Customers to Commence Purchase Orders

New Certified Products and Expanded PPE Options to be Showcased at FDIC 2026 in April

Company Repositioning with New Leadership Enhances Operating Discipline and Visibility to Support More Consistent Margins, Inventory Efficiency, and Cash Flow in FY2027

Targets High Single-Digit Revenue Growth & Positive Cash Flow from Operations in FY 2027

Management to Host Conference Call Today at 4:30 p.m. Eastern Time

HUNTSVILLE, AL – April 16, 2026 - Lakeland Industries, Inc. ("Lakeland Fire + Safety" or "Lakeland") (NASDAQ: LAKE), a leading global manufacturer of protective clothing and apparel for industry, healthcare and first responders, has reported its financial and operational results for its fiscal fourth quarter and year ended January 31, 2026.

Key Fiscal FY 2026 Fourth Quarter Financial and Operational Highlights

Q4 Comparison

FY Comparison

($ in millions)

Q4’26

Q4’25

$ Change YoY

% Change YoY

2026

2025

$ Change YoY

% Change YoY

Net Sales

45.8

46.6

(0.8

)

(1.7%)

192.6

167.2

25.4

15.2

Gross Profit

14.7

18.7

(4.0

)

(21.2%)

63.3

68.7

(5.3

)

(7.8%)

Gross Margin

32.2

40.1

—

(794)BPS

32.9

41.1

—

(820)BPS

Net Loss

(6.2

)

(18.4

)

12.2

66.3

(25.3

)

(18.1

)

(7.2

)

(40.0%)

Adjusted EBITDA

0.8

5.1

(4.3

)

(83.6%)

5.0

15.0

(10.0

)

(66.7%)

Adjusted EBITDA ex. FX(1)

1.3

6.1

(4.8

)

(78.3%)

7.2

17.4

(10.2

)

(58.5%)

(1) Adjusted EBITDA and Adjusted EBITDA excluding FX are non-GAAP financial measures. Reconciliations are provided in the tables of this press release.

Management Commentary

“While our fourth quarter results reflect the continued impact of cost volatility and a challenging operating environment, we believe they do not fully reflect the actions taken during fiscal 2026 to simplify the business, reduce costs, and strengthen operating discipline across Lakeland” said Jim Jenkins, President and Chief Executive Officer. “Results during the quarter reflected inflationary cost pressures, tariff impacts, and later period demand softness, conditions that reinforced the importance of our ongoing focus on cost control, planning discipline and inventory management. Even in that environment, we generated an approximately $1.8 million improvement in cash flows from operations and approximately $1.3 million in Adjusted EBITDA excluding FX. Delivering that level of cash generation and EBITDA on lower revenue than the third quarter reflects improved discipline across the organization, stronger cost control, and better day-to-day operating execution.

“I also want to recognize the work of our team, whose efforts helped to drive meaningful improvement in the quarter. Subsequent to year end, we successfully completed the divestiture of the HPFR and HiViz product lines, generating approximately $14 million in cash proceeds, simplifying the business, and further strengthening our capital position. This transaction reduces operational complexity, strengthens liquidity and allows us to concentrate resources more directly on our core Fire Services and industrial protective products businesses.

“Stepping back to the full year, fiscal 2026 was characterized by solid demand across our core markets alongside a volatile cost environment and a deliberate focus on cost reduction and simplification. Revenue increased approximately 15% to $192.6 million, supported by continued momentum in Fire Services. While revenue increased during the year, earnings were pressured as we prioritized expense actions, inventory discipline, and structural simplification amid these conditions. We do not view that as a demand issue, but as a reflection of cost headwinds, mix, and the timing of benefits from actions taken during the year.

“As we move into fiscal 2027, we are encouraged that these issues are actively being addressed, and that we are already seeing signs of progress. Inventory is down approximately $5.3 million since October, reflecting improved inventory alignment and tighter controls across sourcing and production. We are removing costs across logistics and operations, strengthening accountability, and putting a tighter structure around sales and production planning. Operating cadence and planning discipline improved during the latter part of fiscal 2026, reducing reactive decision-making and supporting better short-term visibility. Through the first two months of Q1 FY27, the business is tracking consistent with expectations as cost actions and inventory discipline begin to carry forward.

Just as importantly, Lakeland now offers a full head-to-toe range of NFPA 1970:2026 certified products across our brand portfolio. The timing of these certifications had limited ordering activity during fiscal 2026, and completion of these certifications improves product availability as we move forward. We look forward to displaying our NFPA-certified fire portfolio at FDIC 2026.

“Looking ahead, we believe Lakeland is entering fiscal 2027 with a simpler portfolio, improved internal discipline, and a healthy level of demand across both Fire and Industrial. We are modestly ahead of budget going into the new fiscal year, and the pipeline continues to build. Our focus in fiscal 2027 is to build on the cost reductions, simplified portfolio, and inventory discipline established in fiscal 2026, with the objective of delivering more consistent margins and positive operating cash flow. Based on these actions and the underlying demand environment, we are providing FY 2027 objectives of high single-digit revenue growth and positive cash flows from operations,” Jenkins concluded.

Fiscal 2026 and Subsequent Operational Highlights

•

Completed the acquisitions of Arizona PPE and California PPE, expanding U.S. Fire Services distribution and rental capabilities.

•

Completed the sale and partial leaseback of Decatur, Alabama warehouse facilities in August 2025, for $6.1 million, generating a pre-tax gain of approximately $4.3 million and reducing fixed cost exposure.

•

Announced the shipment of a USD $3.1 million order through its Jolly Scarpe brand for fire intervention boots from the Italian Ministry of the Interior - Firefighters Department, as part of a previously-awarded four year supply contract.

•

Lakeland LHD subsidiary was awarded an approximately USD $5.6 million three-year contract to provide advanced decontamination, managed care and maintenance services for the Hong Kong Fire Services Department’s (HKFSD) firefighter protective gear.

•

Received significant emergency follow-on orders to supply turnout gear, gloves, and hoods to the National Fire Department of Colombia ("DNBC”).

•

Secured a contract renewal of up to 12 years with Fire and Emergency New Zealand (FENZ), New Zealand's main firefighting and emergency services body, for a range of apparel and decontamination services.

•

Products including Lakeland Structural Turnout and Proximity Gear; Veridian Gloves and Fire Particulate Blocking Hoods; and Pacific Helmets, have officially achieved NFPA 1970:2025 certification, further strengthening Lakeland’s full head-to-toe firefighter Personal Protective Equipment (PPE) portfolio.

•

California PPE opened “California PPE, Fresno”, a new state-of-the-art facility providing compliant decontamination, inspection and repair services to California Fire Departments and National Fire Protection Association (NFPA) 1850 training.

•

Completed the divestiture of the HPFR (High Performance FR) and HiViz product lines in March 2026, generating approximately $14 million of cash proceeds and meaningfully strengthening the Company's balance sheet.

•

Appointed Lee D. Rudow to its Board of Directors, effective April 9, 2026. Mr. Rudow previously served as Chief Executive Officer of Nasdaq-listed Transcat, Inc.

•

Calven Swinea appointed Chief Financial Officer in February 2026 after having served as Interim Chief Financial Officer since December 2025 and Vice President of Finance since September 2020.

•

Kevin Rae appointed Executive Vice President, Europe, the Middle East, and Africa Fire Sales after having served as Vice President, EMEA Fire and Global M&A Integration since 2022.

Fiscal 2026 Fourth Quarter Financial Highlights

•

Net sales were $45.8 million for Q4 FY26, compared to $46.6 million in Q4 FY25, a decrease of $0.8 million or 1.7%, driven by decreases in Disposables, and Wovens, offset partially by increases in Fire Services and HPFR.

•

Sales of the Fire Services product line were $21.7 million for the fourth quarter of fiscal 2026, an increase of $0.5 million or 2% compared to $21.2 million for the fourth quarter of fiscal 2025.

•

Fire segment as a percentage of revenue was 47%.

•

U.S. sales were $19.6 million for the fourth quarter of fiscal 2026, an increase of $1.3 million or 7% compared to $18.3 million for the fourth quarter of fiscal 2025.

•

Europe sales, including Eagle, Jolly and LHD, were $12.1 million for the fourth quarter of fiscal 2026, a decrease of $2.4 million or 17% compared to $14.5 million for the fourth quarter of fiscal 2025.

•

LATAM sales were $3.8 million for the fourth quarter of fiscal 2026, a decrease of $0.2 million or 5% compared to $4.0 million for the fourth quarter of fiscal 2025.

•

Asia sales were $4.3 million for the fourth quarter of fiscal 2026, an increase of $0.7 million or 19% compared to $3.6 million for the fourth quarter of fiscal 2025.

•

Gross profit for the fourth quarter of fiscal 2026 was $14.7 million, a decrease of $4.0 million, or 21%, compared to $18.7 million for the fourth quarter of fiscal 2025.

•

Adjusted EBITDA excluding FX(1) was approximately $1.3 million in Q4 FY26, compared to $6.1 million in Q4 FY25.

•

Q4 FY26 generated an approximately $1.7 million improvement in cash flows from operations, demonstrating improved cost control and greater operating leverage relative to prior periods despite lower revenue.

(1) Adjusted EBITDA and Adjusted EBITDA excluding FX are non-GAAP financial measures. Reconciliations are provided in the tables of this press release.

Fiscal 2026 Full Year Financial Highlights

•

Net sales increased 15.2% to $192.6 million for FY26, compared to $167.2 million for FY25, driven by a $30.6 million, or 48.6%, increase in Fire Services revenue, supported by the full-year contributions of Veridian, LHD, Jolly, and Pacific Helmets acquisitions and the addition of Arizona PPE and California PPE in FY26.

•

Gross margin was 32.9% for FY26, compared to 41.1% for FY25, primarily reflecting product mix, underutilization in Mexico and Vietnam, tariff and raw material cost headwinds, and integration-related costs.

•

Net loss was ($25.3) million, or ($2.63) per diluted share, for FY26, compared to a net loss of ($18.1) million, or ($2.43) per diluted share, for FY25. The increase in net loss was driven by higher operating expenses to support growth and an $8.4 million establishment of a full valuation allowance on U.S. deferred tax assets.

•

Adjusted EBITDA excluding FX was approximately $7.2 million for FY26, compared to $17.4 million for FY25.

•

Cash and cash equivalents were $12.5 million at January 31, 2026. Working capital was approximately $96.2 million. Subsequent to January 31, 2026, completed the divestiture of the HPFR (High Performance FR) and HiViz product lines, generating approximately $14 million of cash proceeds.

•

Inventories decreased approximately $5.3 million since October 31, 2025, reflecting progress on inventory rightsizing.

Fiscal Fourth Quarter 2026 Financial Results

Net sales were $45.8 million for Q4 FY26, a decrease of $0.8 million or 1.7% compared to $46.6 million for Q4 FY25. By product line, Fire Services increased $0.5 million to $21.7 million, and Chemical increased $0.3 million to $5.0 million. These gains were more than offset by a $0.9 million decrease in Disposables, a $1.0 million decrease in Wovens, and smaller declines in Gloves and High Visibility. U.S. revenue increased $1.3 million or 7.1% to $19.6 million for Q4 FY26, while Europe revenue decreased $2.4 million to $12.1 million, reflecting timing of orders from LHD and Jolly.

Gross profit for Q4 FY26 was approximately $14.7 million, a decrease of $4.0 million, or 21.2%, compared to $18.7 million for Q4 FY25. Gross profit as a percentage of net sales decreased to 32.2% for Q4 FY26 from 40.1% for Q4 FY25, reflecting product mix, underutilization in Mexico and Vietnam manufacturing, raw material cost pressures, elevated freight costs, and execution gaps in production planning and systems.

Operating expenses were approximately $17.3 million for Q4 FY26, compared to $18.8 million in Q4 FY25. The decrease reflected ongoing cost management initiatives partially offset by personnel and professional fee costs. Operating loss was approximately ($5.2) million for Q4 FY26, which included $2.6 million of goodwill impairment charges, compared to an operating loss of ($10.7) million for Q4 FY25, which included $10.5 million of goodwill impairment charges.

Net loss was ($6.2) million, or ($0.61) per diluted share, for Q4 FY26, compared to a net loss of ($18.4) million, or ($2.42) per diluted share, for Q4 FY25. The prior year period included $18.2 million in combined non-cash goodwill and Bodytrak equity method investment impairments.

Adjusted EBITDA excluding FX for Q4 FY26 was approximately $1.3 million, compared to $6.1 million for Q4 FY25. The decrease was primarily driven by the decline in gross margin related to the factors described above.

Fiscal Year 2026 Financial Results

Net sales were $192.6 million for FY26, an increase of $25.4 million or 15.2% compared to $167.2 million for FY25. Our Fire Services line was a key driver, with revenue growing $30.6 million, or 48.6%, to $93.6 million. U.S. revenue increased $21.2 million, or 35.1%, driven by Veridian, Arizona PPE and California PPE. Europe revenue increased $12.1 million, or 28.7%, primarily due to full-year contribution from LHD. Partially offsetting these gains, Latin America declined $4.8 million and Canada declined $1.4 million, reflecting timing of orders and macroeconomic uncertainties. On a consolidated basis, domestic sales were $81.6 million, or 42%, of total revenues, and international sales were $111.0 million or 58% of total revenues.

Gross profit was $63.3 million for FY26, a decrease of $5.4 million, or 7.8%, compared to $68.7 million for FY25. Gross margin decreased to 32.9% from 41.1%, driven by product mix from fire acquisitions, manufacturing underutilization, and raw material and tariff headwinds.

Operating expenses increased 14.2% to $77.0 million for FY26 from $67.4 million for FY25, driven by personnel costs, equity compensation, acquisition-related costs, and professional fees to support the Company's growth. The Company recognized a $2.6 million goodwill impairment charge related to the LHD reporting unit, a $3.6 million lease impairment on the Monterrey, Mexico right-of-use asset, and a $4.3 million gain on the sale of the Decatur, Alabama warehouse facilities. Operating loss was ($15.5) million for FY26, compared to ($9.3) million for FY25.

Net loss was ($25.3) million, or ($2.63) per diluted share, for FY26, compared to a net loss of ($18.1) million, or ($2.43) per diluted share, for FY25. The increase reflects higher operating expenses and an $8.4 million income tax charge from the establishment of a full valuation allowance on U.S. deferred tax assets, partially offset by the gain on the Decatur sale.

Adjusted EBITDA excluding FX for FY26 was approximately $7.2 million, compared to $17.4 million for FY25, reflecting the decline in gross margin and higher operating costs described above.

Cash and cash equivalents were $12.5 million at January 31, 2026, with working capital of approximately $96.2 million. Cash decreased $5.0 million versus January 31, 2025, reflecting $15.8 million of operating cash usage and $11 million of net investing outflows, offset by $12.5 million provided by financing activities. Subsequent to January 31, 2026, completed the divestiture of the HPFR (High Performance FR) and HiViz product lines, generating approximately $14 million of cash proceeds.

As of January 31, 2026, there were borrowings of $28.5 million outstanding under the revolving credit facility, with an additional $11.5 million of available credit under the Loan Agreement and additional debt of $3.8 million.

As of January 31, 2026, the Company was not in compliance with certain covenants under its revolving credit agreement. After January 31, 2026, the Company received a limited waiver from its lender pursuant to which such noncompliance was waived.

Net cash used in operating activities was $15.8 million in the year ended January 31, 2026, compared to $15.9 million in the year ended January 31, 2025. Cash usage was driven by a net loss of ($25.3) million and unfavorable changes in operating assets of $4.9 million, partially offset by non-cash charges of $14.3 million.

J. Calven Swinea, Chief Financial Officer, added, "In fiscal 2026, revenues increased $25.4 million, or 15.2%, to $192.6 million, driven by demand in global Fire Services and contributions from recent acquisitions. During the year, we focused on simplifying the business, managing costs, and strengthening our financial foundation in a volatile operating environment.

“Gross margin compression in fiscal 2026 was primarily driven by product mix associated with our fire acquisitions, underutilization in our Mexico and Vietnam facilities, and raw material and tariff headwinds. These are operational issues that we are actively addressing. We are also taking structural actions, including the planned consolidation of India production into Vietnam, that we believe will support improved efficiency and utilization over time.

“Importantly, the approximately $14 million in proceeds from the HPFR and HiViz divestiture announced in March 2026, is expected to further strengthen liquidity and financial flexibility. As we move into fiscal 2027, our focus remains on sustaining cost discipline, improving utilization, and delivering more consistent gross margin and operating cash flow. With the revolving credit facility waiver in place, we are now focused on completing a transition to an asset-based lending structure. We are in advanced discussions and working through final steps with a lender. While there can be no assurance of completion, we are encouraged by the level of engagement and expect to complete this transition in the near term.”

Fiscal Fourth Quarter and Full Year 2026 Results Conference Call

Lakeland President, Chief Executive Officer and Executive Chairman Jim Jenkins and Chief Financial Officer Calven Swinea will host the conference call, followed by a question-and-answer period. The conference call will be accompanied by a presentation, which can be viewed during the webcast or accessed via the investor relations section of the Company’s website here.

To access the call, please use the following information:

Date:

Thursday, April 16, 2026

Time:

4:30 p.m. Eastern Time (1:30 p.m. Pacific Time)

Dial-in:

1-877-407-9208

International Dial-in:

1-201-493-6784

Conference Code:

13758334

Webcast:

https://viavid.webcasts.com/starthere.jsp?ei=1750467&tp_key=d6dc402422

A telephone replay will be available commencing approximately three hours after the call and will remain available through July 16, 2026, by dialing 1-844-512-2921 from the U.S., or 1-412-317-6671 from international locations, and entering replay pin number: 13758334. The replay can also be viewed through the webcast link above and the presentation utilized during the call will be available via the investor relations section of the Company’s website here.

Non-GAAP Financial Measures

To supplement its consolidated financial statements, which are prepared and presented in accordance with Generally Accepted Accounting Principles (GAAP), the Company uses the following non-GAAP financial measures in this press release: Adjusted EBITDA, Adjusted EBITDA margin, Adjusted EBITDA excluding FX, Adjusted EBITDA excluding FX margin and adjusted operating expenses, excluding FX. The presentation of this financial information is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. The Company uses these non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. The Company believes that these measures provide useful information about operating results, enhance the overall understanding of past financial performance and future prospects, and allow for greater transparency with respect to key metrics used by management in its financial and operational decision-making. The non-GAAP financial measures used by the Company in this press release may be different from the methods used by other companies.

For more information on the non-GAAP financial measures, please see the Reconciliation of GAAP to non-GAAP Financial Measures tables in this press release. These accompanying tables include details on the GAAP financial measures that are most directly comparable to non-GAAP financial measures and the related reconciliations between these financial measures.

LAKELAND INDUSTRIES, INC. AND SUBSIDIARIES

Operating Results ($000) (Unaudited)

Reconciliation of GAAP Results to Non-GAAP Results

Three Months Ended

Twelve Months Ended

January 31,

2026

2025

2026

2025

Net loss to EBITDA

Net loss

(6,209

)

(18,438

)

(25,311

)

(18,075

)

Interest expense

617

618

2,147

1,650

Income tax expense

356

(397

)

7,612

(281

)

Depreciation and amortization

1,447

1,756

5,063

4,775

EBITDA

(3,788

)

(16,461

)

(10,489

)

(11,931

)

EBITDA to Adjusted EBITDA

(excluding non-cash expenses)

EBITDA

(3,788

)

(16,461

)

(10,489

)

(11,931

)

Equity compensation (1)

369

476

3,391

1,558

Other income (expense) (2)

(105

)

(198

)

Acquisition expenses (3)

395

1,528

3,237

3,709

Earnout revaluation (4)

—

(689

)

Severance and restructuring (5)

891

847

2,251

2,246

New Monterrey, Mexico facility start-up costs (6)

204

352

1,855

1,258

PFAS litigation (7)

(466

)

122

(319

)

740

ERP project (8)

390

174

1,796

174

Amortization of step-up in inventory basis (9)

217

—

1,395

—

Goodwill impairment(10)

2,604

10,538

2,604

10,538

Gain on sale-leaseback transaction (11)

—

(4,333

)

—

Lease impairment (12)

—

3,577

—

Impairment of equity method investment (13)

—

7,639

—

7,639

Adjusted EBITDA

836

5,110

5,005

15,043

Adjusted EBITDA Margin

Adjusted EBITDA

836

5,110

5,005

15,043

Divided by net sales

45,820

46,628

192,648

167,211

Adjusted EBITDA Margin

1.8

11.0

2.6

9.0

Adjusted EBITDA to Adjusted EBITDA excluding FX

Adjusted EBITDA

836

5,110

5,005

15,043

Currency Fluctuation

492

1,000

2,197

2,312

Adjusted EBITDA excluding FX

1,329

6,110

7,202

17,355

Adjusted EBITDA Margin to Adjusted EBITDA excluding FX Margin

Adjusted EBITDA excluding FX

1,329

6,110

7,202

17,355

Divided by net sales

45,820

46,628

192,648

167,211

Adjusted EBITDA excluding FX Margin

2.9

13.1

3.7

10.4

Operating Expenses to Adjusted Operating Expenses excluding FX

Operating expenses

17,342

18,839

76,990

67,401

Depreciation and amortization

(1,113

)

(682

)

(3,750

)

(2,412

)

Equity compensation (1)

(369

)

(476

)

(3,391

)

(1,558

)

Acquisition expenses (3)

(395

)

(1,528

)

(3,237

)

(3,709

)

Earnout revaluation (4)

—

689

Severance and restructuring (5)

(891

)

(847

)

(2,251

)

(2,246

)

New Monterrey, Mexico facility start-up costs (6)

(204

)

(352

)

(1,855

)

(1,258

)

PFAS litigation (7)

466

(122

)

319

(740

)

ERP project (8)

(329

)

(174

)

(1,514

)

(174

)

(492

)

(1,000

)

(2,197

)

(2,312

)

Adjusted Operating Expenses excluding FX

14,015

13,658

59,114

53,681

The financial data above includes non-GAAP financial measures, including EBITDA, adjusted EBITDA, adjusted EBITDA Margin and Adjusted Operating Expenses. Management excludes from EBITDA and adjusted EBITDA all expenses for interest, taxes, depreciation and amortization, Goodwill impairment, impairment of investment, and Other Income which is comprised of interest income and gains (losses) from equity method investments. For adjusted EBITDA management also excludes equity compensation, acquisition-related expenses, severance and restructuring costs, start-up costs for our Mexican operations, PFAS litigation expenses, ERP Project related costs and earnout revaluation. This press release also discusses (i) Adjusted EBITDA margin, which is calculated by dividing Adjusted EBITDA by GAAP net sales; (ii) Adjusted EBITDA excluding FX, which is calculated by subtracting foreign currency losses from Adjusted EBITDA and (iii) Adjusted EBITDA excluding FX margin, which is calculated by dividing Adjusted EBITDA excluding FX by GAAP net sales.

Management excludes these items principally because such charges or benefits are not directly related to the Company’s ongoing core business operations. We use such non-GAAP measures in order to (1) make more meaningful period-to-period comparisons of the Company’s operations, both internally and externally, (2) guide management in assessing the performance of the business, internally allocating resources and making decisions in furtherance of the Company’s strategic plan, and (3) provide investors with a better understanding of how management plans and measures the business. The material limitations to management’s approach include the fact that the charges, benefits and expenses excluded are nonetheless charges, benefits and expenses required to be recognized under GAAP and, in some cases, consume cash which reduces the Company’s liquidity. Management compensates for these limitations primarily by reviewing GAAP results to obtain a complete picture of the Company’s performance and by including a reconciliation of non-GAAP results to GAAP results in its earnings releases. Non-GAAP financial measures are not alternatives for measures of financial performance prepared in accordance with GAAP and may be different from similarly titled non-GAAP measures presented by other companies, limiting their usefulness as comparative measures.

Additional information regarding the adjustments is provided below.

(1) Adjustments for Equity Compensation, which consist of non-cash expenses for the grant of equity awards.

(2) Adjustments for Other Income, which consists of interest income and gains/(losses) from Investments accounted for under the equity method of accounting.

(3) Adjustments for acquisition-related expenses included advisory fees, due diligence expenses and legal fees related to the Company's acquisitions.

(4) Adjustments for the reduction of the estimated earnout payment related to the Eagle acquisition. Reduction to the accrued earnout payment reflected in operating expenses.

(5) Adjustments for accrued employee severance and restructuring costs.

(6) Adjustments for costs for our Mexican operations consist of external services and legal fees associated with a property-related dispute with the landlord of our manufacturing site in Monterrey, Mexico.

(7) Adjustments for PFAS Litigation.

(8) Adjustments for the implementation of new ERP consisted of external services and employee related expenses.

(9) Adjustments for amortization of the step-up in basis for inventory acquired related to the Company's acquisitions.

(10) Goodwill impairment charges of $2.6 million representing 45% of goodwill related to the LHD reporting unit in the Europe geographic segment, $3.0 million representing the entire amount of goodwill related to the Pacific reporting unit and $7.5 million representing 83% of goodwill related to the Eagle reporting unit.

(11) The Company recorded a gain on sale-leaseback for the sale of the Decatur, Alabama warehouse facility.

(12) The Company recorded an impairment primarily related to the right of use asset for the Monterrey, Mexico facility.

(13) Impairment loss of $7.6 million for the remaining recorded value of the equity method and convertible notes investment in Bodytrak.

About Lakeland Fire + Safety

Lakeland Fire + Safety manufactures and sells a comprehensive line of fire services and industrial protective clothing and accessories for the industrial and first responder markets. In addition, we provide decontamination, repair and rental services that complement our fire services portfolio. Our products are sold globally by our in-house sales teams, our customer service group, and authorized independent sales representatives to a strategic global network of selective fire and industrial distributors and wholesale partners. Our authorized distributors supply end users across various industries, including integrated oil, chemical/petrochemical, automobile, transportation, steel, glass, construction, smelting, cleanroom, janitorial, pharmaceutical, and high-tech electronics manufacturers, as well as scientific, medical laboratories, and the utilities industry. In addition, we supply federal, state and local governmental agencies and departments, including fire and law enforcement, airport crash rescue units, the Department of Defense, the Department of Homeland Security and the Centers for Disease Control. Internationally, we sell to a mix of end-users directly and to industrial distributors, depending on the particular country and market. In addition to the United States, sales are made into more than 50 foreign countries, the majority of which were into China, the European Economic Community ("EEC"), Canada, Chile, Argentina, Commonwealth of Independent States (“CIS”) Region, Colombia, Mexico, Ecuador, India, Uruguay, Middle East, Southeast Asia, Australia, Hong Kong and New Zealand.

For more information about Lakeland, please visit the Company's website at www.lakeland.com.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995

This press release contains estimates, predictions, opinions, goals and other "forward-looking statements" as that phrase is defined in the Private Securities Litigation Reform Act of 1995. Such statements include, without limitation, references to the Company's predictions or expectations of future business or financial performance as well as its goals and objectives for future operations, financial and business trends, business prospects, and management's expectations for earnings, revenues, expenses, inventory levels, capital levels, liquidity levels, or other future financial or business performance, strategies or expectations, including without limitation our stated objectives of high single-digit revenue growth and positive cash flow from operations and our planned transition to an asset-based lending structure. All statements, other than statements of historical facts, which address Lakeland's expectations of sources or uses for capital, or which express the Company's expectation for the future with respect to financial performance or operating strategies, can be identified as forward-looking statements. Forward-looking statements involve risks, uncertainties and assumptions as described from time to time in press releases and Forms 8-K, registration statements, quarterly and annual reports and other reports and filings filed with the Securities and Exchange Commission or made by management. As a result, there can be no assurance that Lakeland's future results will not be materially different from those described herein as "believed," "projected," "planned," "intended," "anticipated," "can," “will,” “likely,” “focus,” “objectives,” "estimated" or "expected," or other words which reflect the current view of the Company with respect to future events. We caution readers that these forward-looking statements speak only as of the date hereof. The Company hereby expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in the Company's expectations or any change in events, conditions or circumstances on which such statement is based, except as may be required by law.

Investor Relations

Chris Tyson

Executive Vice President

MZ Group - MZ North America

949-491-8235

LAKE@mzgroup.us

www.mzgroup.us

Lakeland Industries, Inc. and Subsidiaries

CONSOLIDATED STATEMENTS OF OPERATIONS

For the Years Ended January 31, 2026 and 2025

($000’s) except share information

2026

2025

Net sales

192,648

167,211

Cost of goods sold

129,322

98,537

Gross profit

63,326

68,674

Operating expenses

76,990

67,401

Goodwill impairment

2,604

10,538

Gain on sale-leaseback

(4,333

)

—

Lease impairments

3,577

—

Operating loss

(15,512

)

(9,265

)

Impairment of equity method investment

—

(7,639

)

Other (expense) income, net

(40

)

198

Interest expense

(2,147

)

(1,650

)

Loss before income tax expense (benefit)

(17,699

)

(18,356

)

Income tax expense (benefit)

7,612

(281

)

Net loss

(25,311

)

(18,075

)

Net loss per common share:

Basic

(2.63

)

(2.43

)

Diluted

(2.63

)

(2.43

)

Weighted average common shares outstanding:

Basic

9,626,477

7,426,401

Diluted

9,626,477

7,426,401

Lakeland Industries, Inc. and Subsidiaries

CONSOLIDATED BALANCE SHEETS

January 31, 2026 and 2025

($000’s, except share information)

ASSETS

Current assets

2026

2025

Cash and cash equivalents

12,515

17,476

Accounts receivable, net of allowance for doubtful accounts of $1,064 and $1,237

at January 31, 2026 and 2025, respectively

32,043

27,607

Inventories

82,542

82,739

Prepaid VAT and other taxes

2,429

2,598

Income tax receivable and other current assets

4,657

6,111

Total current assets

134,186

136,531

Property and equipment, net

11,640

13,948

Operating leases right-of-use assets

11,248

13,917

Deferred tax assets

1,149

6,270

Goodwill

15,287

16,240

Intangible assets, net

31,724

25,503

Other assets

4,699

122

Total assets

209,933

212,531

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities

Accounts payable

15,565

15,742

Accrued compensation and benefits

4,984

4,501

Other accrued expenses

8,964

8,130

Income tax payable

1,802

1,993

Current portion of long-term debt

1,891

939

Current portion of operating lease liabilities

4,756

3,602

Total current liabilities

37,962

34,907

Deferred income taxes

2,198

3,891

Long-term debt

30,382

16,426

Long-term portion of operating lease liabilities

10,264

10,681

Total liabilities

80,806

65,905

Commitments and contingencies (Footnote 12)

Stockholders’ equity

Preferred stock, $0.01 par; authorized 1,500,000 shares (none issued)

—

Common stock, $0.01 par; authorized 20,000,000 shares, Issued 11,164,336

and 10,856,812; outstanding 9,806,128 and 9,498,604 at January 31, 2026 and

2025, respectively

112

109

Treasury stock, at cost; 1,358,208 shares at January 31, 2026 and 2025

(19,979

)

(19,979

)

Additional paid-in capital

129,391

123,136

Retained earnings

23,857

50,320

Accumulated other comprehensive loss

(4,254

)

(6,960

)

Total stockholders' equity

129,127

146,626

Total liabilities and stockholders’ equity

209,933

212,531

Lakeland Industries, Inc. and Subsidiaries

CONSOLIDATED STATEMENTS OF CASH FLOWS

For the Years Ended January 31, 2026 and 2025

($000’s)

2026

2025

Cash flows from operating activities:

Net loss

(25,311

)

(18,075

)

Adjustments to reconcile net loss to net cash used in operating activities

Deferred income taxes

2,510

(4,086

)

Depreciation and amortization

5,063

3,316

Impairment of goodwill

2,604

10,538

Lease impairments

3,577

—

Amortization of step-up in inventory basis

1,395

1,036

Stock based and restricted stock compensation

3,391

1,558

Gain on sale-leaseback transaction

(4,333

)

—

Loss on disposal of property and equipment

113

Equity in loss of equity method investment

—

384

Change in fair value of earnout consideration

—

(711

)

Impairment of equity method investment

—

7,639

Change in operating assets and liabilities, net of effect of business acquisitions

Accounts receivable, net

(2,674

)

(2,644

)

Inventories

1,770

(14,242

)

Prepaid VAT and other taxes

170

244

Other assets

(2,305

)

(1,477

)

Accounts payable

(1,051

)

5,979

Accrued expenses and other liabilities

(488

)

(3,500

)

Operating lease liabilities

(181

)

(1,901

)

Net cash used in operating activities

(15,750

)

(15,881

)

Cash flows from investing activities:

Purchases of property and equipment

(671

)

(1,540

)

Proceeds from sale of property and equipment

5,652

—

Acquisitions, net of cash acquired

(6,165

)

(45,084

)

Investments

—

(1,118

)

Net cash used in investing activities

(1,184

)

(47,742

)

Cash flows from financing activities

Secondary stock offering proceeds

—

42,626

Term loan borrowings

2,048

2,688

Term loan repayments

(3,202

)

(635

)

Credit line borrowings

44,334

59,400

Payments on debt facilities

(29,094

)

(46,158

)

Dividends paid

(1,152

)

(887

)

Shares returned to pay employee taxes under restricted stock program

(429

)

(446

)

Net cash provided by financing activities

12,505

56,588

Effect of exchange rate changes on cash and cash equivalents

(532

)

(711

)

Net decrease in cash and cash equivalents

(4,961

)

(7,746

)

Cash and cash equivalents at beginning of year

17,476

25,222

Cash and cash equivalents at end of year

12,515

17,476

Supplemental disclosure of cash flow information:

Cash paid for interest

2,129

1,650

Cash paid for income taxes

3,045

3,219

Stock issued for acquisition

3,295

—

EX-99.2

Filename: lake-ex99_2.htm · Sequence: 3

Fiscal Fourth Quarter & Full Year 2026 Financial Results Conference Call April 16, 2026 NASDAQ: LAKE Exhibit 99.2

Safe Harbor & Non-GAAP Statements “Safe Harbor” Statement Under the Private Securities Litigation Reform Act of 1995 This presentation contains estimates, predictions, opinions, goals and other “forward-looking statements” as that phrase is defined in the Private Securities Litigation Reform Act of 1995. Such statements include, without limitation, references to the Company's predictions or expectations of future business or financial performance as well as its goals and objectives for future operations, financial and business trends, business prospects, and management's expectations for earnings, revenues, expenses, inventory levels, capital levels, liquidity levels, or other future financial or business performance, strategies or expectations, including without limitation our outlook for FY27 and growth goals. All statements, other than statements of historical facts, which address Lakeland's expectations of sources or uses for capital, or which express the Company's expectation for the future with respect to financial performance or operating strategies can be identified as forward-looking statements. Forward-looking statements involve risks, uncertainties and assumptions as described from time to time in press releases and Forms 8-K, presentations, registration statements, quarterly and annual reports and other reports and filings filed with the Securities and Exchange Commission or made by management. As a result, there can be no assurance that Lakeland's future results will not be materially different from those described herein as "believed," "projected," "planned," "intended," "anticipated," "can," "estimated" or "expected," or other words which reflect the current view of the Company with respect to future events. We caution readers that these forward-looking statements speak only as of the date hereof. The Company hereby expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in the Company's expectations or any change in events, conditions or circumstances on which such statement is based, except as may be required by law. Non-GAAP Financial Measures To supplement its consolidated financial statements, which are prepared and presented in accordance with Generally Accepted Accounting Principles (GAAP), the Company uses the following non-GAAP financial measures in this presentation: Adjusted Gross Profit, Adjusted Gross Margin, Organic Adjusted Gross Profit, Organic Adjusted Gross Margin, Inorganic Adjusted Gross Profit, Inorganic Adjusted Gross Margin, Adjusted Operating Expenses, Organic Adjusted Operating Expenses, Inorganic Adjusted Operating Expenses, Adjusted EBITDA excluding FX, Adjusted EBITDA excluding FX margin, Organic Adjusted EBITDA excluding FX, Organic Adjusted EBITDA excluding FX margin, Inorganic Adjusted EBITDA excluding FX and Inorganic Adjusted EBITDA excluding FX margin. The presentation of this financial information is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. The Company uses these non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. The Company believes that these measures provide useful information about operating results, enhance the overall understanding of past financial performance and future prospects, and allow for greater transparency with respect to key metrics used by management in its financial and operational decision-making. The non-GAAP financial measures used by the Company in this presentation may be different from the methods used by other companies. For more information on the non-GAAP financial measures, please see the Reconciliation of GAAP to non-GAAP Financial Measures tables in this presentation. These accompanying tables include details on the GAAP financial measures that are most directly comparable to non-GAAP financial measures and the related reconciliations between these financial measures.

Agenda: On the Call Today: COMPANY UPDATES CLOSING SUMMARY FINANCIAL RESULTS Q&A KEY TAKEAWAYS James M. Jenkins President, Chief Executive Officer & Executive Chairman Calven Swinea Chief Financial Officer Cameron Stokes Chief Commercial Officer, Global Industrials Barry Phillips Chief Revenue Officer Kevin Rae Executive Vice President, EMEA Fire Sales

Q4 2026 and Subsequent Operational & Business Updates Net sales increased $25.4 million, or 15.2%, to $192.6 million for the full year, and decreased $0.8 million, or 1.7%, to $45.8 million in Q4 compared to the prior year period. U.S. sales increased to $81.6 million, or 35.1%, for the full year, and increased 7.1% to $19.6 million in Q4. Europe sales increased 12.1 million, or 28.7%, to $54.2 million for the full year, and decreased 2.4 million, or 16.6%, to $12.1 million in Q4. Net loss for Q4 2026 improved $12.2 million, or 66.3%, to ($6.2) million from a net loss of to ($18.4) million in Q4 2025. Completed divestiture of High Performance FR and HiViz product lines, generating $14 million of cash proceeds, meaningfully strengthening liquidity position. Achieved NFPA 1970:2025 certification for products including Lakeland Structural Turnout and Proximity Gear, offering customers a full range of head-to-toe certified products across Lakeland’s brand portfolio, to be showcased at FDIC 2026. Strengthened governance and executive team with the appointments of Lee D. Rudow to the Board of Directors, Calven Swinea as CFO and Kevin Rae as EVP, EMEA Fire Sales. Completed the acquisitions of Arizona PPE and California PPE. Macro Environment FY26 operations were impacted by increases in freight costs, raw material inflation and ongoing supply-chain disruptions. U.S. trade policy has undergone significant shifts, namely new and expanded tariffs on key trading partners. These shifts, and potential retaliatory tariffs, have created cost pressures and potential uncertainty. Uncertainty in select markets, certification timing delays and material flow challenges have negatively impacted production efficiency, revenue timing, and gross margins. Inventories on January 31, 2026, totaled $82.5 million. Looking Ahead Entering Fiscal 2027 with a simpler portfolio, a stronger balance sheet, and improved internal discipline. Modestly ahead of budget going into FY 2027, and the pipeline continues to build. Focus is converting demand into reliable, repeatable financial performance, improve forecasting, and driving stronger margins and cashflow. We are encouraged by the early progress we are seeing and believe we are creating a foundation for consistent execution and improved shareholder value over time.

Industrial and Chemical/Critical Environment Revenue Demand starting to stabilize across several Industrial channels. Distributors continued to operate with leaner inventory levels, certain customers deferred purchases in pockets of the market Growth in the US, Europe and Asia outperformed ROW Cyclical adjustments in certain channels, not long-term erosion Several customer segments and geographies show stabilization signals, and we expect run-rate predictability to improve as customer inventories normalize Forecasting Upgraded leadership in key regions and our unified and disciplined process drove significant improvements in forecasting accuracy. 98% in Q4 Channel-level segmentation, improving pipeline discipline, and greater end-user customer intimacy is driving forecasts reflecting real behaviors inside customer groups rather than broad regional assumptions Competition Share movement continues to be limited and localized Fuel and Logistic instability has replaced tariff uncertainty. Competition has yet to react with price movement Targeted market segmentation and channel stratification are driving sales focus Sales Strategy Rebuilding distributor run rates Re-engaging customers who deferred purchases Intense focus on end-user engagement in Chemical and Critical Environment markets Driving better alignment and execution with MRG’s Tightening CRM and channel discipline Stabilizing chemical and accelerating critical environment segments Optimistic Outlook Stabilization in political environment – Argentina Geo-political: New economic realities in Canada and a calming of FY26 uncertainties Tariffs uncertainty has resolved and we anticipate mid single digit market growth in the US and Mexico A return to historic turnaround activities in Canada and the US New Leadership in Place – Mexico, U.S. and Australia – driving disciplined, consistent and winning selling efforts Starting to see traction with new strategic partners in the U.S.

Fire Services Update Revenue Fire demand increasing primarily because of completion certification cycles, and tender timelines on track across multiple regions These are timing delays rather than structural demand issues Opportunities remain in the pipeline, and the majority have not been lost; they have simply shifted later than expected Strategic Update Issues identified and solutions in place Fire strategy remains intact heading into next fiscal year Product portfolio is broader and stronger than at any time in the company’s history LHD Germany is stabilizing, expect formal relaunch of brand at Interschutz 2026 New leadership driving EMEA brands Outlook Margins remain structurally sound As volume normalizes and tenders convert, margins are expected to recover without requiring broad pricing actions ISPs growing faster than initially projected ISP green fielding and ISP M&A pipeline remain robust Strongest backlog in Fire product history Expected continued success with head-to-toe offering Expected tender wins in Europe Expected largest fire tender win in Lakeland Fire history in the U.S. NFPA Jolly Boot rollout in process in North and South America Formal launch at FDIC on April 23

EMEA Update Revenue Down on forecast – delayed government tenders, challenging macro economic conditions. Business success in new contracts in Hong Kong and LHD Australia. Solidifies those businesses. Restructuring in German market LHD DE. Challenging conditions. Reduce overhead. Strategic Update Late-stage tenders are up Pipeline quality is higher Integration is unlocking access and scale Intershutz 2026 – largest fire event in world ( every 5 years) EMEA launch for Lakeland F&S. Pivotal for LHD DE Outlook Important shift in intercompany leverage of sales activity. Improved integration shows $5M + of business that results directly through group – incremental. Integration spread through all regions – Asia, Latam, EMEA, North America Scalable business – head to toe offering Lakeland Fire & Safety brand gaining traction and recognition in the industry. Leverage through supply chain – rebates, joint initiatives. Objective - Improve conversion, execute integration into tangible revenue, and build a more balanced and predictable pipeline April 2026 - after18 month process secured positioning in UK national Tender ( one of largest in the world)

Q4 2026 FINANCIAL RESULTS Financial Highlights See reconciliation tables for non-GAAP in appendix Q4-FY26 Revenue by Product and Geography Financial Highlights Three Months Ended Jan. 31 $ in Million 2026 2025 Revenue 45.8 $46.6 Adjusted Gross Margin 33.5% 42.4% Adjusted Operating Expenses excluding FX 14.0 13.7 Net Loss (6.2) (18.4) Adjusted EBITDA excluding FX 0.8 5.1 Adjusted EBITDA excluding FX Margin 2.9% 13.1% Jan. 31, 2026 Jan. 31, 2025 Cash & Cash Equivalents $12.5 $17.5 FY 2026 Cash does not include $14M proceeds from HPFR/HiViz divestiture

2026 FINANCIAL RESULTS Financial Highlights See reconciliation tables for non-GAAP in appendix FY26 Revenue by Product and Geography Financial Highlights Twelve Months Ended Jan. 31 $ in Million 2026 2025 Revenue $192.6 $167.2 Adjusted Gross Margin1 34.4% 42.5% Adjusted Operating Expenses excluding FX1 59.2 53.7 Net Loss (25.3) (18.1) Adjusted EBITDA excluding FX1 7.2 17.4 Adjusted EBITDA excluding FX Margin1 2.9% 13.1% Jan. 31, 2026 Jan. 31, 2025 Cash & Cash Equivalents $12.5 $17.5 FY 2026 Cash does not include $14M proceeds from HPFR/HiViz divestiture

Adjusted EBITDA excl. FX $1.3M and Adjusted EBITDA excl. FX Margin 2.9% Lower Opex associated with improved GM positively impacted EBITDA sequentially Increased profitability in the US offset by challenges at LHD Germany Adjusted Gross Profit is $15.4M and Adjusted Gross Margin is 33.5% Lower inbound freight and duties and sales mix improved GM quarter over quarter Year over year lower profit resulting from material costs and duties Adjusted Operating Expenses excluding FX $14.0M Decrease of Opex due to reduction initiatives and lower performances Internal resources for ERP Project reduced Opex Financial Highlights Sales revenue $45.8M Quarter over quarter sales impacted by Fire tenders/deliveries with Jolly down Macro economic environment affected year over year North America sales Adjusted excludes D&A, Stock Compensation, FX, Acquisition Expenses, Severance, Restructuring, Monterrey, PFAS, Step-up Inventory, and SAP Project

TTM Revenue and Adjusted EBITDA excluding FX REVENUE ADJUSTED EBITDA excluding FX

Gross Margin and EBITDA Bridge. Q4-FY26 vs Q4-FY25 ADJUSTED GROSS MARGIN % ADJUSTED EBITDA excluding FX

Gross Margin and EBITDA Bridge. FY26 vs FY25 ADJUSTED GROSS MARGIN % ADJUSTED EBITDA excluding FX

Revenue Mix –FY26 and Historical Lakeland FY24 Lakeland FY26 Lakeland FY25

Q4 2026 Balance Sheet and Cash Flow Balance Sheet Cash Flow

Q4-FY26 Inventory Inventory is down $5.4M quarter over quarter resulting of inventory reduction initiatives Inventory flat year over year despite 15% sales growth Both Organic Finished Goods and Raw Materials are down quarter over quarter Inventory reduction expected to continue in FY27

Closing Summary FY26 Net Sales Growth - Increased 15.2% to $192.6 million, driven by 48.6% growth in Fire Services Portfolio Improvements - Divested HPFR and HiViz product line to focus on core turnout gear and industrial PPE businesses; Entered the advanced decontamination and rental markets with the acquisitions of California PPE Recon and Arizona PPE Recon Strengthened Balance Sheet – Subsequent to year-end, completed the sale of HPFR and HiViz product line for cash proceeds of approximately $14 million NFPA Certifications– Achieved NFPA 1970:2025 certification for Structural Turnout and Proximity Gear, setting a new benchmark for performance and protection and reinforcing Lakeland’s position as a leader in firefighter PPE innovation Recent business wins position Lakeland for high-single-digit organic growth target Focused Strategy Executing Entering fiscal 2027 with key financial metrics showing sequential improvement over Q4 2026 Executing margin recovery actions across logistics, operations and pricing, including manufacturing footprint consolidation Continued efforts at cost containment across logistics and operations in face of Iran conflict Tightening forecasting accountability, and implementing stronger structure around sales and production planning Revised ERP rollout plan for the second half of fiscal 2027 Actively driving green fielding and M&A pipeline within our ISP space Opened location in Fresno in January 2026, with Denver expected to open in summer of 2026

NASDAQ: LAKE www.lakeland.com Investor Relations Chris Tyson MZ Group 949-491-8235 LAKE@mzgroup.us Company 1525 Perimeter Parkway Suite 325 Huntsville, AL 35806

19 Protect Your People® Non-GAAP Reconciliation – Gross Profit and Margin

20 Protect Your People® Non-GAAP Reconciliation – Operating Expenses

21 Protect Your People® Non-GAAP Reconciliation – EBITDA

22 Protect Your People® Non-GAAP Reconciliation – EBITDA Margin excluding FX

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v3.26.1

Document And Entity Information

Apr. 16, 2026

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Apr. 16, 2026

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Lakeland Industries, Inc.

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0000798081

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000-15535

Entity Incorporation, State or Country Code

Entity Tax Identification Number

13-3115216

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1525 Perimeter Parkway, Suite 325

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Huntsville

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35806

City Area Code

256

Local Phone Number

350-3873

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Common Stock, $0.01 Par Value

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LAKE

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