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

Note 15 - Segments (Tables)

3 Months Ended

Mar. 31, 2023

	*Three Months Ended*			*Three Months Ended*
	*March 31,*			*March 31,*
	*2023*			*2022*
Net sales
Work Truck Attachments	$	19,246		$	45,776
Work Truck Solutions		63,299			56,825
	$	82,545		$	102,601
Adjusted EBITDA
Work Truck Attachments	$	(10,231	)	$	3,044
Work Truck Solutions		2,857			1,592
	$	(7,374	)	$	4,636
Depreciation and amortization expense
Work Truck Attachments	$	3,338		$	3,189
Work Truck Solutions		2,019			2,000
	$	5,357		$	5,189
Assets
Work Truck Attachments	$	387,909		$	357,438
Work Truck Solutions		197,379			193,022
	$	585,288		$	550,460
Capital Expenditures
Work Truck Attachments	$	932		$	1,138
Work Truck Solutions		536			218
	$	1,468		$	1,356

Adjusted EBITDA
Work Truck Attachments	$	(10,231	)	$	3,044
Work Truck Solutions		2,857			1,592
Total Adjusted EBITDA	$	(7,374	)	$	4,636
Less items to reconcile Adjusted EBITDA to Loss before taxes:
Interest expense - net		2,864			2,113
Depreciation expense		2,727			2,559
Amortization		2,630			2,630
Stock based compensation		957			1,900
Other charges (1)		74			359
Loss before taxes	$	(16,626	)	$	(4,925	)