Form 8-K
8-K — TANDY LEATHER FACTORY INC
Accession: 0001140361-26-043052
Filed: 2026-11-10
Period: 2026-11-10
CIK: 0000909724
SIC: 3100 (LEATHER & LEATHER PRODUCTS)
Item: Results of Operations and Financial Condition
Item: Financial Statements and Exhibits
Documents
8-K — ef20085096_8k.htm (Primary)
EX-99.1 — EXHIBIT 99.1 (ef20085096_ex99-1.htm)
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8-K
8-K (Primary)
Filename: ef20085096_8k.htm · Sequence: 1
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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):
November 10, 2026
Tandy Leather Factory, Inc.
(Exact Name of Registrant as Specified in Its Charter)
Delaware
(State or Other Jurisdiction of Incorporation)
1-12368
75-2543540
(Commission File Number)
(IRS Employer Identification Number)
7602 Southwest Loop 820, Benbrook, Texas
76126
(Address of Principal Executive Offices)
(Zip Code)
(817) 872-3200
(Registrant's Telephone Number, Including Area Code)
(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 (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 $0.0024
TLF
Nasdaq
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 November 10, 2026, Tandy Leather Factory, Inc. (the “Company”) filed its Quarterly Report on Form 10-Q and issued a press release (the “Press
Release”) announcing its financial results for the third quarter of fiscal year 2026. A copy of the Press Release is attached as Exhibit 99.1.
The information furnished pursuant to Item 2.02 of this report and the exhibits attached hereto shall not be deemed “filed” for purposes of Section 18 of
the Securities Exchange Act of 1934 as amended (the “Exchange Act”), or otherwise subject to liabilities under that section, nor shall they be deemed incorporated by reference in any filing of the Company with the Securities and Exchange Commission
under the Exchange Act or the Securities Act of 1933, as amended (the “Securities Act”), whether made before or after the date hereof, except as shall be expressly set forth by specific reference in such filing.
Item 9.01
Financial Statements and Exhibits.
(d) Exhibits
No.
Exhibit
99.1
Press Release dated November 10, 2026
104
Cover page interactive data file (embedded within the Inline XBRL document)
Forward Looking Statements
Certain statements contained in this report and other materials the
Company files with the SEC, as well as information included in oral statements or other written statements made or to be made by the Company, other than statements of historical fact, are forward-looking statements within the meaning of Section 27A
of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally are accompanied by words such as “may,” “will,” “could,” “should,” “anticipate,” “believe,”
“budgeted,” “expect,” “intend,” “plan,” “project,” “potential,” “estimate,” “continue,” “outlook,” “forecast” or “future,” variations thereof or other similar statements. Please refer to the Company's Annual Report on Form 10-K for the fiscal year
ended December 31, 2025 and subsequent Quarterly Reports on Form 10-Q for information concerning these and other uncertainties that could negatively impact the Company. The Company assumes no obligation to update or otherwise revise its
forward-looking statements, except as required by law.
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.
TANDY LEATHER FACTORY, INC.
Date: November 10, 2026
By: /s/ Johan Hedberg
Johan Hedberg, Chief Executive Officer
EX-99.1 — EXHIBIT 99.1
EX-99.1
Filename: ef20085096_ex99-1.htm · Sequence: 2
Exhibit 99.1
FOR IMMEDIATE RELEASE
November 10, 2026
Tandy Leather Factory Reports Third Quarter 2026 Results
BENBROOK, TEXAS – November 10, 2026 (GLOBE NEWSWIRE) – Tandy Leather Factory, Inc. (Nasdaq: TLF) today announced the Company’s financial results for the third fiscal quarter of
2026.
Highlights from third quarter 2026:
•
Revenues were $18.5 million, up 7.3% from 2025
•
Generated operating income of $0.6 million, up 181.9% from 2025
•
Net income of $0.5 million versus net loss of $1.4 million in 2025
•
Gross margin of 62.4%, up from 58.9% in 2025
•
Adjusted EBITDA of $0.9 million
•
Ended quarter with $5.7 million of cash and cash equivalents
Tandy Leather Factory’s third quarter sales were $18.5 million in 2026, up from $17.3 million in 2025. Third quarter 2026 gross profit was $11.6 million, up
from $10.2 million in 2025. The majority of these gains came from operational improvements. As of September 30, 2026, the Company held $5.7 million of cash and
cash equivalents, down from $16.1 million as of December 31, 2025. This decrease reflects $6.0 million in dividends paid to shareholders in Q1 2026 and approximately $4.4 million related to an increase in inventory purchases to support sales,
investment in a new POS system, and some capital investments in new stores in Waco, Texas, and Charleston, South Carolina as well as in existing stores. The Company had basic and diluted net income in the quarter of $0.06 per share, versus $(0.17)
per share of basic and diluted net loss in the prior year.
Johan Hedberg, Chief Executive Officer of the Company, said,
“We are happy to have continued our growth from the first half of the year with another strong quarter. We saw growth in both retail and e-commerce channels and
considerably increased our operating income. Following our new store opening in Waco, Texas in the second quarter, we continued our store expansion in the third quarter with a new opening in Charleston, South Carolina. During the third quarter, we
continued to invest in our store fleet, our e-commerce channel and operations but our sales and margin growth more than offset these expenses, driving strong increases in profit from operations.”
Investors are encouraged to send their questions to the Company’s investor relations email at investorrelations@tandyleather.com.
Non-GAAP Financial Measures: Adjusted EBITDA is a non-GAAP financial measure, defined as net income before interest income, income tax provision, depreciation
and amortization, and stock-based compensation. Management believes Adjusted EBITDA is useful to investors in evaluating the Company’s operating performance. Adjusted EBITDA should not be considered in isolation or as a substitute for net income or
other measures prepared in accordance with GAAP and may not be comparable to similarly titled measures used by other companies. A reconciliation of net income to Adjusted EBITDA (in millions) is provided below.
Quarter ended
September 30, 2026
Net income
$
0.5
Add back:
Depreciation and amortization
0.3
Interest income
(0.1
)
Income tax provision
0.1
Stock-based compensation
0.1
Adjusted EBITDA
$
0.9
Tandy Leather Factory, Inc., (http://www.tandyleather.com), headquartered in Benbrook, Texas, is a specialty retailer of a broad product line, including leather, leatherworking tools, buckles and adornments for belts, leather dyes
and finishes, saddle and tack hardware, and do-it-yourself kits. The Company distributes its products through its 102 stores, 93 stores in the United States, eight stores in Canada and one store in Spain. Its common stock trades on the Nasdaq
Capital Market under the symbol “TLF”. To be included on Tandy Leather Factory's email distribution list, go to: https://tandyleather.irpass.com/Email_Alerts.
Contact: Johan Hedberg, Tandy Leather Factory, Inc., (817) 872-3200 or johan.hedberg@tandyleather.com
This news release may contain statements regarding future events, occurrences, circumstances, activities, performance, outcomes and
results that are considered "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Actual results and events may differ from those projected as a result of certain risks and uncertainties. These risks and
uncertainties include but are not limited to: changes in general economic conditions, negative trends in general consumer-spending levels, failure to realize the anticipated benefits of opening retail stores; availability of hides and leathers and
resultant price fluctuations; change in customer preferences for our product; changes in tariff rates and the timing and amount of any tariff refunds, and other factors disclosed in our filings with the Securities and Exchange Commission. These
forward-looking statements are made only as of the date hereof, and except as required by law, we do not intend to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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