ADDED
On February 19, 2026 , the registrant had 26,975,173 shares of common stock, par value $0.01 per share, outstanding.
In addition, we have regional distribution operations that serve the Midwest, Mountain West, Northeast and Mid-Atlantic regions of the United States, and we operate multiple cellulose manufacturing facilities.
Insulation installation comprised approximately 58%, 60% and 60% of our net revenue of $3.0 billion, $2.9 billion and $2.8 billion for the years ended December 31, 2025, 2024 and 2023, respectively.
Fiberglass and cellulose insulation accounted for approximately 83% of our insulation installation sales for the year ended December 31, 2025.
Spray foam insulation accounted for approximately 17% of our insulation installation sales for the year ended December 31, 2025.
The installation of these products collectively comprised approximately 4% of our net revenue for the year ended December 31, 2025.
Distribution Operating Segment Our distribution operating segment consists of our regional distribution businesses.
AMD Distribution ("AMD"), headquartered in Spring Valley, Minnesota, operates nine locations including distribution centers and bonded warehouses and services 28 states across the northern United States.
AMD distributes insulation and related products purchased wholesale from manufacturers, including spray foam insulation, metal building insulation, residential insulation, and mechanical and fabricated Styrofoam insulation.
AMD sells to a diverse group of independent contractors of varying sizes engaged in residential, commercial and agricultural projects and also distributes accessories and equipment used in the insulation installation process.
REMOVED
On February 20, 2025, the registrant had 27,758,509 shares of common stock, par value $0.01 per share, outstanding.
In addition, three regional distribution operations serve the Midwest, Mountain West, Northeast and Mid-Atlantic regions of the United States, and we operate a cellulose manufacturing facility.
Insulation installation comprised approximately 60%, 60% and 61% of our net revenue of $2.9 billion, $2.8 billion and $2.7 billion for the years ended December 31, 2024, 2023 and 2022, respectively.
Fiberglass and cellulose insulation accounted for approximately 84% of our insulation installation sales for the year ended December 31, 2024.
Spray foam insulation accounted for approximately 16% of our insulation installation sales for the year ended December 31, 2024.
The installation of these products collectively comprised approximately 3% of our net revenue for the year ended December 31, 2024.
Distribution Operating Segment We have three businesses that comprise our distribution platform.
("AMD") is headquartered in Spring Valley, Minnesota and has eight locations including distribution centers and bonded warehouses.
These locations service several states throughout the Midwest and Mountain West.
AMD distributes products and materials purchased wholesale from manufacturers such as spray foam insulation, metal building insulation, residential insulation, and mechanical and fabricated Styrofoam insulation.