Douglas Dynamics, Inc. Quarterly report pursuant to Section 13 or 15(d)

Note 15 - Segments (Tables)

6 Months Ended

Jun. 30, 2023

	*Three Months Ended*		*Three Months Ended*		*Six Months Ended*		*Six Months Ended*
	*June 30,*		*June 30,*		*June 30,*		*June 30,*
	*2023*		*2022*		*2023*		*2022*
Net sales
Work Truck Attachments	$	141,221	$	130,364	$	160,467	$	176,140
Work Truck Solutions		66,046		57,197		129,345		114,022
	$	207,267	$	187,561	$	289,812	$	290,162
Adjusted EBITDA
Work Truck Attachments	$	42,296	$	33,589	$	32,065	$	36,633
Work Truck Solutions		965		513		3,822		2,105
	$	43,261	$	34,102	$	35,887	$	38,738
Depreciation and amortization expense
Work Truck Attachments	$	3,403	$	3,201	$	6,741	$	6,390
Work Truck Solutions		2,039		2,003		4,058		4,003
	$	5,442	$	5,204	$	10,799	$	10,393
Assets
Work Truck Attachments	$	439,940	$	421,310
Work Truck Solutions		201,260		192,174
	$	641,200	$	613,484
Capital Expenditures
Work Truck Attachments	$	1,933	$	2,928	$	2,865	$	4,066
Work Truck Solutions		836		363		1,372		581
	$	2,769	$	3,291	$	4,237	$	4,647

Adjusted EBITDA
Work Truck Attachments	$	42,296	$	33,589	$	32,065	$	36,633
Work Truck Solutions		965		513		3,822		2,105
Total Adjusted EBITDA	$	43,261	$	34,102	$	35,887	$	38,738
Less items to reconcile Adjusted EBITDA to Income before taxes:
Interest expense - net		3,736		2,473		6,600		4,586
Depreciation expense		2,812		2,574		5,539		5,133
Amortization		2,630		2,630		5,260		5,260
Stock based compensation		3,279		3,153		4,236		5,053
Other charges (1)		68		182		142		541
Income before taxes	$	30,736	$	23,090	$	14,110	$	18,165