Highlights new project in Mountain States, marking major growth milestone
ALSIP, IL / ACCESS Newswire / June 17, 2025 / Capstone Holding Corp. (NASDAQ:CAPS) today announced that its Instone subsidiary secured a $1 million order for Pangaea® Natural Stone as part of a luxury resort development in the Mountain States. The company has already delivered $200,000 in shipments, marking successful entry into this high-value regional market. This milestone demonstrates Capstone's strategy to drive revenue growth through geographic expansion, operational excellence, and positioning in premium markets.
The project, located in a luxury resort community in the Mountain States, marks Instone's first major development in the area. More than 30 homes in the community will feature Pangaea® Stone, including two of Instone's newest profiles added earlier this year. These profiles were selected by the builder for their innovative design, distinctive character, and alignment with the community's high-end architectural vision.
The company has already shipped $200,000 worth of stone to launch the project, and early responses from the builder have been highly enthusiastic, praising both the quality of the product and the professionalism of Instone's logistics and support teams.
"This achievement highlights how Capstone's operating company is executing on our growth strategy and expanding into high-opportunity markets," said Matt Lipman, CEO of Capstone Holding Corp. "Instone's ability to quickly establish new dealer relationships and win sizable, high-end projects reflects the kind of operational performance and market responsiveness that drives value for our shareholders."
Instone has been methodically expanding its geographic footprint into the Southeastern and Mountain States, bringing premium masonry products and outstanding service to new markets. The Mountain States region has shown strong potential for residential and resort development, making it a prime target for growth.
"We're thrilled to have our first major project underway in this important new market," said Kevin Grotke, President of Instone. "The builder has been highly enthusiastic about the quality of Pangaea® Stone and the service we've delivered so far. This project sets the stage for future growth, and we're eager to support more developments across the region."
The successful onboarding of several new dealer partners in the Mountain States has enabled Instone to quickly establish a strong local presence. This project sets the stage for continued growth as demand for premium natural stone surges in the resort and custom residential markets.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Capstone Holding Corp. may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials, and in oral statements made by its officers, directors, or employees to third parties. Statements that are not historical facts, including but not limited to statements about Capstone's beliefs and expectations about: (i) possible future acquisitions including, but not limited to, acquisition multiples and the percentage of acquisition consideration that will be non-cash; (ii) revenue run rate; and (iii) Adjusted Instone EBITDA run rate are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, further information regarding which is included in the Company's filings with the Securities and Exchange Commission, available for review at www.sec.gov. All information provided in this press release is as of the date of the press release, and Capstone Holding Corp. undertakes no duty to update such information, except as required under applicable law.
In addition to figures prepared in accordance with GAAP, Capstone from time to time presents alternative non-GAAP performance measures, e.g., EBITDA, adjusted EBITDA, adjusted net profit/loss, adjusted earnings per share, free cash flow. These measures should be considered in addition to, but not as a substitute for, the information prepared in accordance with GAAP. Alternative performance measures are not subject to GAAP or any other generally accepted accounting principle. Other companies may define these terms in different ways.
About Capstone Holding Corp. (CAPS)
Capstone Holding Corp. is a building products distribution company that has successfully grown its business organically and through well-timed acquisitions. We intend to use the distribution backbone of our operating subsidiary, that currently services 31 US states, to provide a value-added platform to make acquisitions. A key differentiator of the Company's strategy is that it maintains over half of its revenue from brands it owns or controls. Current products include stone veneer, landscape stone, and modular masonry fireplaces. Capstone's corporate headquarters is located in Alsip, Illinois.
For more information, please visit the Company's website: www.capstoneholdingcorp.com.
Investor Contact:
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SOURCE: Capstone Holding Corp.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/industrial-and-manufacturing/capstone-holding-corp.-nasdaq-caps-secures-1-million-pangaea-stone-ord-1040151
