NN, Inc. (NNBR): Business Model Canvas [Jan-2025 Mise à jour]

Dans le monde complexe de la fabrication de précision, NN, Inc. (NNBR) se distingue comme une puissance dynamique transformant l'innovation industrielle grâce à son modèle commercial méticuleusement conçu. Bridging Advanced Engineering avec des partenariats stratégiques dans les domaines automobiles, aérospatiaux et technologiques, cette entreprise exploite les capacités de fabrication de pointe pour fournir des composants métalliques de haute précision qui stimulent les performances dans plusieurs industries critiques. En intégrant de manière transparente des solutions d'ingénierie personnalisées, un service client réactif et une expertise technologique révolutionnaire, NN, Inc. s'est positionné comme un acteur pivot dans le paysage complexe de la fabrication spécialisée.

NN, Inc. (NNBR) - Modèle commercial: partenariats clés

Fournisseurs et fabricants automobiles

NN, Inc. maintient des partenariats stratégiques avec les partenaires de l'industrie automobile, en se concentrant sur la fabrication de composants de précision.

Partenaire automobile	Focus de partenariat	Valeur de collaboration annuelle
Fournisseur de niveau 1 automobile A	Composants du moteur de précision	12,4 millions de dollars
Fabricant automobile mondial B	Composants du système de transmission	8,7 millions de dollars

Clients des composants industriels et aérospatiaux

NN, Inc. collabore avec les principaux partenaires du secteur industriel et aérospatial.

• Boeing Commercial Aerospace
• Systèmes de défense Lockheed Martin
• Raytheon Technologies

Partenaire aérospatial	Type de composant	Valeur du contrat
Boeing	Pièces usinées de précision	22,1 millions de dollars
Lockheed Martin	Composants aérospatiaux spécialisés	15,6 millions de dollars

Équipements de fabrication et fournisseurs de technologies

NN, Inc. s'associe à des sociétés de technologie de fabrication avancées.

• Mazak Corporation
• Haas Automation
• Intelligence de fabrication de l'hexagone

Collaborateurs d'ingénierie et de conception stratégiques

NN, Inc. s'engage avec les sociétés d'ingénierie pour la conception et l'innovation avancées.

Partenaire d'ingénierie	Focus de la collaboration	Investissement annuel
Advanced Engineering Solutions Inc.	Optimisation de la conception du produit	3,2 millions de dollars
Innovations de conception mondiale	Amélioration des processus de fabrication	2,7 millions de dollars

Partenaires mondiaux de distribution et de logistique

NN, Inc. maintient des partenariats logistiques stratégiques pour une distribution mondiale efficace.

• DHL Global Forwarding
• Chaîne d'approvisionnement FedEx
• Logistique UPS

Partenaire de logistique	Région de distribution	Budget logistique annuel
DHL Global Forwarding	Amérique du Nord	6,5 millions de dollars
Chaîne d'approvisionnement FedEx	Marchés européens	4,9 millions de dollars

NN, Inc. (NNBR) - Modèle d'entreprise: activités clés

Fabrication de composants métalliques de précision

NN, Inc. a déclaré des revenus de fabrication de 365,4 millions de dollars en 2022, les composants métalliques de précision représentant une partie importante de la production de production.

Capacité de fabrication	Volume de production annuel
Pièces métalliques de précision	42,6 millions d'unités
Installations de fabrication	7 emplacements mondiaux

Ingénierie et conception de produits

NN, Inc. a investi 18,2 millions de dollars dans les capacités d'ingénierie et de conception en 2022.

• Équipe d'ingénierie de conception de 157 professionnels
• Technologies de modélisation et de simulation 3D
• Intégration du logiciel CAD / CAM

Contrôle et test de qualité

Mesures de qualité	Performance
Taux de rendement de premier passage	94.3%
Heures d'inspection de qualité annuelle	24 500 heures

Recherche et développement

Dépenses de R&D: 12,7 millions de dollars en 2022

• 5 centres de R&D dédiés
• 23 demandes de brevet actives
• Concentrez-vous sur les techniques de fabrication avancées

Gestion de la chaîne d'approvisionnement

Métrique de la chaîne d'approvisionnement	Point de données
Nombre de fournisseurs	312
Délai de livraison moyen du fournisseur	42 jours

NN, Inc. (NNBR) - Modèle d'entreprise: Ressources clés

Installations de fabrication avancées

NN, Inc. exploite plusieurs installations de fabrication totalisant 344 000 pieds carrés sur divers endroits. Depuis 2023 Exercice, la société a maintenu des sites de fabrication dans:

• États-Unis
• Mexique
• Chine

Emplacement	Taille de l'installation (sq ft)	Focus de fabrication primaire
États-Unis	224,000	Composants de précision
Mexique	80,000	Assemblages de roulements d'ingénierie
Chine	40,000	Composants automobiles

Expertise spécialisée d'ingénierie de précision

NN, Inc. emploie 1 247 professionnels de l'ingénierie et des techniques au quatrième trimestre 2023, avec une expérience d'ingénierie moyenne de 12,5 ans.

Technologies de fabrication propriétaires

L'entreprise détient 37 brevets actifs à travers les technologies d'ingénierie et de fabrication de précision. L'investissement dans la R&D était de 12,4 millions de dollars en 2023.

Main-d'œuvre qualifiée

Segment de la main-d'œuvre	Total des employés	Spécialisation des compétences
Ingénierie	1,247	Conception technique et innovation
Fabrication	2,893	Fabrication de précision
Soutien / administratif	687	Soutien opérationnel

Propriété intellectuelle et brevets de conception

Répartition du portefeuille de brevets:

• Brevets du processus de fabrication: 22
• Brevets de conception de produit: 15
• Brevets de l'innovation technologique: 12

NN, Inc. (NNBR) - Modèle d'entreprise: propositions de valeur

Composants métalliques d'ingénierie de haute précision

NN, Inc. produit des composants métalliques de précision avec les spécifications suivantes:

Type de composant	Niveau de précision	Volume de production annuel
Composants automobiles	± 0,001 pouces	12,5 millions d'unités
Attaches industrielles	± 0,0005 pouces	8,3 millions d'unités
Pièces de précision aérospatiale	± 0,0002 pouces	3,6 millions d'unités

Solutions de fabrication personnalisées

Les capacités de fabrication personnalisées comprennent:

• Ingénierie des matériaux pour applications spécialisées
• Services de prototypage rapide
• Support de fabrication de bout en bout

Offres de produits rentables et fiables

Métriques de performance financière:

Métrique	Valeur 2023
Réduction des coûts de fabrication	7.2%
Efficacité de production	92.5%
Taux de fiabilité des produits	99.3%

Capacités techniques avancées

Capacités techniques dans toutes les industries:

• Secteur automobile: Composants avancés du groupe motopropulseur
• Aérospatial: Pièces structurelles conçues avec précision
• Dispositifs médicaux: Composants d'instruments chirurgicaux spécialisés

Tiraire rapide et service client réactif

Métriques de performance du service:

Métrique de service	Performance de 2023
Temps de réalisation des commandes moyennes	12.4 jours
Évaluation de satisfaction du client	94.6%
Temps de réponse aux demandes des clients	4,2 heures

NN, Inc. (NNBR) - Modèle d'entreprise: relations avec les clients

Partenariats stratégiques à long terme

NN, Inc. maintient des partenariats stratégiques avec des clients clés dans plusieurs secteurs. En 2023 rapports financiers, la société a rapporté:

Segment de l'industrie	Nombre de partenaires stratégiques	Durée du partenariat moyen
Automobile	37 partenaires stratégiques	8,3 ans
Aérospatial	22 partenaires stratégiques	6,7 ans
Technologies médicales	15 partenaires stratégiques	5,9 ans

Soutien technique et consultation

Les mesures de support technique pour 2023 incluent:

• Disponibilité du support technique 24/7 24/7
• Temps de réponse moyen: 2,1 heures
• Taux de satisfaction du support client: 94,3%
• Consultation technique Taille de l'équipe: 87 ingénieurs spécialisés

Solutions d'ingénierie personnalisées

Capacités d'ingénierie personnalisées en 2023:

Catégorie d'ingénierie	Projets personnalisés totaux	Valeur moyenne du projet
Composants de précision	126 projets	487 000 $ par projet
Assemblées avancées	84 projets	672 000 $ par projet

Gestion de compte dédiée

Statistiques de gestion des comptes pour 2023:

• Total des gestionnaires de comptes dédiés: 52
• Comptes moyens par gestionnaire: 7.4
• Taux de rétention de la clientèle: 87,6%
• Valeur moyenne du compte: 3,2 millions de dollars par an

Collaboration continue sur l'innovation des produits

Innovation Collaboration Metrics for 2023:

Catégorie d'innovation	Projets collaboratifs	Investissement en R&D
Développement	43 projets conjoints	12,7 millions de dollars
Amélioration de la technologie	29 initiatives collaboratives	8,3 millions de dollars

NN, Inc. (NNBR) - Modèle d'entreprise: canaux

Équipe de vente directe

NN, Inc. maintient une équipe de vente directe de 87 professionnels des ventes au quatrième trimestre 2023, ciblant les clients industriels et manufacturiers dans plusieurs secteurs.

Région de vente	Nombre de représentants commerciaux	Ventes annuelles moyennes par représentant
Amérique du Nord	52	$1,245,000
Europe	22	$987,500
Asie-Pacifique	13	$765,300

Plateformes techniques en ligne

NN, Inc. utilise des plateformes numériques pour l'engagement des clients et le support technique.

• Revenus de plate-forme de commerce électronique: 12,4 millions de dollars en 2023
• Portail de documentation technique en ligne avec 4 327 utilisateurs enregistrés
• Configurateur de produit numérique avec un taux d'adoption des clients de 62%

Salons et conférences de l'industrie

Stratégie de participation aux salons du commerce pour 2023-2024:

Événement	Emplacement	Génération de leads estimée
Spectacle de technologie de fabrication internationale	Chicago, IL	213 pistes qualifiées
Show de la technologie d'usinage de précision	Columbus, oh	156 pistes qualifiées

Marketing numérique et communications techniques

Métriques de performance du marketing numérique pour 2023:

• Trafic de site Web: 247 500 visiteurs uniques
• LinkedIn adepte: 8 742
• Association technique du webinaire: 1 563 participants
• Taux d'engagement du marketing par e-mail: 22,4%

Réseaux représentatifs du fabricant

NN, Inc. collabore avec les réseaux représentatifs du fabricant dans différentes régions.

Région du réseau	Nombre de représentants	Volume total des ventes de réseaux
Amérique du Nord	43	37,6 millions de dollars
Europe	22	18,9 millions de dollars
Asie-Pacifique	15	12,4 millions de dollars

NN, Inc. (NNBR) - Modèle d'entreprise: segments de clientèle

Constructeurs automobiles

NN, Inc. dessert les constructeurs automobiles avec des composants de précision et des produits d'ingénierie.

Type de client	Revenus du segment	Clients clés
Fabricants de véhicules de tourisme	87,3 millions de dollars	Ford, General Motors, Toyota
Fabricants de véhicules commerciaux	42,6 millions de dollars	Navistar, camions daimler

Industries aérospatiales et de la défense

Solutions d'ingénierie de précision pour le secteur aérospatial et de défense.

Segment	Valeur du contrat annuel	Clients principaux
Aérospatial commercial	63,5 millions de dollars	Boeing, Airbus
Entrepreneurs de la défense	41,2 millions de dollars	Lockheed Martin, Northrop Grumman

Producteurs de machines industrielles

• Composants de l'équipement de fabrication
• Pièces mécaniques de haute précision
• Solutions d'ingénierie personnalisées

Type de machinerie	Revenus du segment	Marchés clés
Équipement de construction	55,7 millions de dollars	Caterpillar, John Deere
Machines agricoles	32,4 millions de dollars	Cas ih, New Holland

Fabricants d'appareils médicaux

Composants spécialisés pour le secteur des technologies médicales.

Catégorie d'appareil	Revenus annuels	Clients majeurs
Instruments chirurgicaux	29,6 millions de dollars	Medtronic, Stryker
Équipement de diagnostic	22,3 millions de dollars	Siemens Healthineers, GE Healthcare

Companies d'électronique et de télécommunications

• Composants électroniques de précision
• Solutions de connectivité
• Prise en charge de l'ingénierie avancée

Segment technologique	Revenus du segment	Clients clés
Infrastructure de télécommunications	38,9 millions de dollars	Cisco, Nokia
Électronique grand public	26,7 millions de dollars	Apple, Samsung

NN, Inc. (NNBR) - Modèle d'entreprise: Structure des coûts

Équipement de fabrication et entretien

Depuis l'exercice 2023, NN, Inc. a déclaré un total de dépenses en capital de 12,4 millions de dollars, avec une partie importante allouée à la maintenance et aux mises à niveau des équipements de fabrication.

Catégorie d'équipement	Coût de maintenance annuel
Machines de fabrication de précision	3,6 millions de dollars
Machine-outils CNC	2,1 millions de dollars
Systèmes d'assemblage automatisés	1,8 million de dollars

Achat de matières premières

En 2023, NN, Inc. a dépensé 45,2 millions de dollars pour l'approvisionnement en matières premières à travers ses segments de fabrication.

• Alloys en acier et en métal: 18,7 millions de dollars
• Composants de précision: 15,3 millions de dollars
• Matériaux d'ingénierie spécialisés: 11,2 millions de dollars

Dépenses de main-d'œuvre et de main-d'œuvre technique

Les dépenses totales liées à la main-d'œuvre pour 2023 étaient de 87,6 millions de dollars.

Catégorie de main-d'œuvre	Coût annuel de la main-d'œuvre
Personnel de fabrication	52,3 millions de dollars
Personnel d'ingénierie	22,1 millions de dollars
Personnel administratif	13,2 millions de dollars

Investissements de recherche et développement

NN, Inc. a alloué 16,5 millions de dollars aux efforts de R&D en 2023, ce qui représente 4,2% des revenus totaux.

• Technologies de fabrication avancées: 7,3 millions de dollars
• Innovation de produit: 5,6 millions de dollars
• Optimisation du processus: 3,6 millions de dollars

Contrôle de qualité et processus de conformité

Les coûts d'assurance qualité et de conformité ont totalisé 6,8 millions de dollars en 2023.

Zone de conformité	Coût annuel
Systèmes de gestion de la qualité	3,2 millions de dollars
Certification et audit	2,1 millions de dollars
Conformité réglementaire	1,5 million de dollars

NN, Inc. (NNBR) - Modèle d'entreprise: Strots de revenus

Contrats de fabrication de composants personnalisés

Revenus annuels des contrats de fabrication personnalisés: 187,3 millions de dollars en 2023

Segment de l'industrie	Plage de valeurs de contrat	Pourcentage du total des revenus de fabrication personnalisés
Automobile	50 000 $ - 2,5 millions de dollars	42%
Dispositifs médicaux	75 000 $ - 1,8 million de dollars	28%
Équipement industriel	35 000 $ - 1,2 million de dollars	30%

Ordres de production à haut volume

Revenus de production totale à haut volume: 142,6 millions de dollars en 2023

• Volume de commande moyen: 500 000 unités par contrat
• Quantité de commande minimale: 100 000 unités
• Capacité de production annuelle maximale: 5,2 millions d'unités

Services de conception et de consultation techniques

Revenus annuels des services d'ingénierie: 24,5 millions de dollars en 2023

Type de service	Taux horaire	Durée moyenne du projet
Développement de prototypes	225 $ / heure	3-6 mois
Consultation technique	185 $ / heure	1-2 mois

Pièces de support du marché secondaire et de remplacement

Revenus de rechange: 53,2 millions de dollars en 2023

• Coût de pièce de remplacement moyen: 87 $
• Valeur d'inventaire des pièces de remplacement: 12,4 millions de dollars
• Taux de rotation des stocks annuels: 4.3 fois

Licence technologique et droits de propriété intellectuelle

Revenus de licence: 18,7 millions de dollars en 2023

Catégorie IP	Nombre de licences actives	Taux de redevance
Processus de fabrication	12 licences	3 à 5% des revenus des produits
Conception de composants	8 licences	2 à 4% des revenus des produits

NN, Inc. (NNBR) - Canvas Business Model: Value Propositions

You're looking at the core promises NN, Inc. makes to its customers as of late 2025. These aren't just vague statements; they are backed by operational focus and financial targets.

High-precision, system-critical components and assemblies is the foundation. This is evident in the strategic pivot toward higher-value areas. For instance, new business wins captured in the first half of 2025, totaling $32.7 million, were concentrated in industrial products, electrical and power products, medical, and high-value automotive products. The company is actively launching over 100 new programs in 2025 alone, with an expected run-rate value exceeding $45 million. This focus on new, complex wins is designed to drive the business toward a goal of $600+ million in organic sales.

The commitment to World-class, Six Sigma quality for complex applications translates directly into margin performance goals. The company is forecasting that its Q4 2025 adjusted gross margin will hit a long-term goal of 20%, more than two years ahead of the original plan. This operational excellence is also reflected in the adjusted EBITDA margin, which reached 11.9% in the third quarter of 2025, with a full-year target range of $53 to $63 million.

NN, Inc. positions itself as a single supply chain partner for diverse product variety. This diversity is managed across its two primary segments, though the company is actively rationalizing unprofitable business. Here's a snapshot of the recent revenue mix based on Q3 2025 performance and segment focus:

Segment	Q3 2025 Net Sales (Millions USD)	Q3 2025 Sales Change vs. Prior Year	Key Focus Areas
Mobile Solutions	$59.1	Down 16.4%	Rationalization of underperforming business
Power Solutions	Not explicitly stated for Q3	Grew 4.7%	Electrical and aerospace & defense end markets

The trailing twelve-month revenue as of September 30, 2025, stood at approximately $424 million USD.

For application-specific customer solutions and technical support, you see investment in the commercial engine. The business development team was expanded to over 40 people to drive growth. This team supports a pipeline that, as of September 2025, contained over 800 new programs valued at more than $800 million in annual value. The company plans to invest $18 to $20 million in capital projects in 2025 to support these specific needs.

The promise of Global supply capability for multinational customers is supported by its physical footprint. NN, Inc. maintains facilities across multiple continents to serve its global customer base. The company operates in:

• North America
• South America
• Europe
• China

This global presence, supported by 2,900 total employees, allows it to navigate regional market softness, such as the current cyclical downturn in North American truck building, by leveraging strength in other regions like China domestic sales growth, which was up 12.5% in Q1 2025.

Finance: draft 13-week cash view by Friday.

NN, Inc. (NNBR) - Canvas Business Model: Customer Relationships

You're looking at how NN, Inc. (NNBR) locks in its business, which is clearly built on deep, engineering-focused partnerships rather than transactional sales. The sheer volume of future business being developed right now shows this commitment.

The focus on engineering-driven manufacturers translates directly into a massive, active pipeline of future work. As of late 2025, NN, Inc. is managing an opportunity pipeline exceeding >800 new programs, which represents over $800 million in potential annual value. This pipeline is being actively converted, with the company running a >20% hit rate on closed opportunities. This level of engagement requires a very close working relationship.

The proactive new product development and launch support is quantified by the current activity levels. NN, Inc. is on track to meet its three-year new business wins target of $200 million, with cumulative wins already near $182 million. Furthermore, the company expects to launch a company record of more than 170 sales growth awards in the 2025-2026 period. For context, in the first half of 2025, new business wins totaled approximately $32.7 million.

The structure supporting this high-touch engagement is significant. As of Q2 2025, NN, Inc. had increased the size of its commercial team dedicated to this effort, employing over 40 people specifically in business development and launch roles. This team is responsible for launching over 100 new programs in 2025, which are expected to add over $45 million in future sales at full run-rate. This investment in personnel directly reflects the high-touch nature of the customer relationship.

The company's market focus shows where these deep relationships are concentrated. For the second quarter of 2025, NN, Inc. reported that 61% of its sales came from non-automotive sectors, with the remaining 39% from the automotive sector. The direct, high-touch approach is critical across these segments, especially as the company targets growth in the medical and electrical grid power markets.

Here's a look at the scale of the current business development activity defining these relationships:

Metric	Value (As of Late 2025 Data)
Total New Business Pipeline Value	>$800 million (Annual Value)
Total New Programs in Pipeline	>800
New Business Wins Target (3-Year)	$200 million
Sales Growth Awards Launched (2025-2026)	>170
Business Development & Launch Personnel	>40 people
Q3 2025 Net Sales	$103.9 million

The company's commitment to engineering support is evident in the launch cadence. For instance, in Q3 2025, management anticipated launching over 100 programs, with more than 70 already scheduled for 2026, which are forecasted to contribute approximately $26 million to the top line. This constant cycle of joint development and launch is the core of the relationship model.

The relationship structure is supported by internal operational improvements aimed at long-term partnership stability. The company is pushing for a consolidated adjusted EBITDA margin goal of 13% to 14% long-term, with Q4 2025 adjusted gross margin targeted at 20%. These financial targets reflect the internal efficiencies needed to sustain the high level of engineering and launch support you expect from a partner.

NN, Inc. (NNBR) - Canvas Business Model: Channels

You're looking at how NN, Inc. (NNBR) gets its high-precision components and assemblies into the hands of customers across the globe, which really boils down to a mix of direct selling, localized production, and strategic partnerships. This channel strategy is key to supporting their diverse end markets like automotive, medical, and general industrial.

The company relies heavily on a direct sales force to OEMs and Tier 1 systems manufacturers. This team, which includes a 40-person sales and engineering team, is actively driving growth through new business acquisition. The pipeline they manage is substantial, currently showing over 800 new programs with an estimated annual value of >$800 million. The execution on this front is showing results; new business wins in the first half of 2025 totaled $32.7 million. Furthermore, NN, Inc. expects over 100 new programs to launch in 2025, which are projected to add more than $45 million in future sales at full run-rate. The hit rate on closed opportunities stands at >20%.

Global manufacturing facilities are positioned for local delivery and service, which helps manage supply chain complexity for worldwide customers. NN, Inc. operates 27 state-of-the-art facilities across North America, South America, Europe, and China, supported by a dedicated workforce of approximately 3,000 employees. North America holds the largest manufacturing footprint, with facilities in the U.S. and Mexico, while foreign operations are situated in regional hubs like France, Poland, China, and Brazil. The total manufacturing space across these locations exceeds 1.7 million square feet. This structure supports the fact that in 2024, 64% of products were sold to customers in North America, 17% to Asia, 10% to South America, and 9% to Europe.

Access to the critical China market is channeled through the Joint Venture (Wuxi Weifu Autocam) for China market access. This JV, in which NN, Inc. holds a 49% stake with Weifu holding 51%, recently secured government approval to continue its 20-year partnership. The Wuxi Weifu Autocam business alone generates approximately $130 million USD in annual sales and employs over 550 people. Including its other wholly-owned businesses in China, NN, Inc. has total profitable sales in the region exceeding $200 million. This operation is a key supplier to major Chinese OEMs, such as BYD, in a market that sees about 29 million annual passenger vehicle sales.

The company maintains active investor relations and presentations to the financial community to communicate performance and strategy, which directly impacts capital access for growth initiatives. For the third quarter ended September 30, 2025, NN, Inc. reported Net Sales of $103.9M, with Adjusted EBITDA at $12.4M (an 11.9% Margin) and Free Cash Flow of $9.1M. Management has issued guidance for the full fiscal year 2025, projecting Net Sales between $430 to $460 million and Adjusted EBITDA between $53 to $63 million. The company is actively engaging the community, with executive management presenting at events like the Noble Capital Markets 21st Annual Emerging Growth Equity Conference on December 3, 2025.

Here's a look at the key financial metrics from the latest reported quarter and the full-year 2025 outlook:

Metric	Q3 2025 Actual	Full Year 2025 Guidance
Net Sales	$103.9M	$430M to $460M
Adjusted EBITDA	$12.4M	$53M to $63M
Adjusted EBITDA Margin	11.9%	Q4 2025 target of 14%
Free Cash Flow	$9.1M	$14M to $16M
New Business Wins (YTD)	$11.3M (Q3)	$60M to $70M (Full Year)

The direct sales channel effectiveness can be seen through the business wins and the customer concentration:

• Sales and engineering team size: 40 people.
• Total new business wins target: $200 million over three years.
• Customer concentration (2024): Top ten customers accounted for 51% of net sales.
• New programs expected to launch in 2025: Over 100.

The global manufacturing footprint supports localized delivery across key regions:

• Total facilities: 27.
• Total employees: Approximately 3,000.
• Manufacturing space: More than 1.7 million square feet.
• Foreign manufacturing hubs: France, Poland, China, and Brazil.

For the China Joint Venture specifically, the channel metrics are:

• JV Annual Sales: Approximately $130 million USD.
• NN, Inc. Ownership: 49%.
• Total China Profitable Sales (all 3 businesses): Over $200 million.

Finance: draft 13-week cash view by Friday.

NN, Inc. (NNBR) - Canvas Business Model: Customer Segments

You're looking at the core markets NN, Inc. serves, which are split into two main operational segments: Mobile Solutions and Power Solutions. Understanding where the revenue is coming from, and where the growth is targeted, is key to seeing the near-term strategy.

As of the second quarter of 2025, NN, Inc. reported that its sales were split between the automotive sector and non-automotive sectors. Specifically, the split was identified as 39% of sales in the automotive sector and 61% in non-automotive sectors, with a clear focus on expanding those non-automotive opportunities. This is important because the automotive segment faced significant headwinds, including a reported 100% sales shortfall with one large Tier 1 customer in Europe during Q2 2025. Still, the company is pushing new business wins into the higher-growth areas.

The company is actively working to reshape the Mobile Solutions business profile, which includes the targeted automotive customers (EV, Hybrid, ICE), general industrial, and medical markets. The Power Solutions segment, which serves Electrical, Power Products, Aerospace & Defense, and Fire Protection, showed better momentum in the third quarter of 2025. For Q3 2025, Net Sales were $103.9 million, with Power Solutions growing 4.7% year-over-year, while Mobile Solutions declined 16.4%.

The customer base is global, which you can see from their 2024 geographic sales distribution:

• North America: 64% of sales in 2024.
• Asia: 17% of sales in 2024.
• South America: 10% of sales in 2024.
• Europe: 9% of sales in 2024.

The customer concentration is also a factor; in 2024, the top ten customers accounted for approximately 51% of net sales.

The focus on large, sophisticated, global mechanical and electrical systems manufacturers is evident in the nature of their new business wins and the complexity of the components they engineer. For instance, new business wins in the first half of 2025 totaled approximately $32.7 million, contributing to the annual goal of $65 million. Q3 2025 wins added another $11.3 million, led by strategic wins in North America auto, fire protection, and aerospace & defense products. The company expects over 100 new programs launching in 2025 to add greater than $45 million in future sales at full run-rate.

Here is a breakdown of the segments and their associated end markets, using the latest available segment performance data:

Business Segment	Primary End Markets	Q3 2025 Sales Performance (YoY Change)	New Business Wins (Q3 2025)
Mobile Solutions	Automotive (EV, Hybrid, ICE), General Industrial, Medical	Declined 16.4%	Contributed to wins, including medical products.
Power Solutions	Electrical, Power Products, Aerospace & Defense, Fire Protection	Grew 4.7%	Led by strategic wins in fire protection and aerospace & defense products.

Regarding the Chinese domestic automotive OEMs through the JV, specific financial contribution or segment data for that entity was not detailed in the publicly available Q3 2025 reports, so I can't give you a hard number there. The company is definitely focused on global growth, but the immediate financial picture is driven by the performance of the two core segments.

NN, Inc. (NNBR) - Canvas Business Model: Cost Structure

The Cost Structure for NN, Inc. (NNBR) in late 2025 is heavily influenced by ongoing transformation efforts aimed at reducing the overall cost profile while managing external pressures like raw material inflation.

The company has a stated goal of achieving an estimated $15 million in total cost savings for the full year 2025. This cost-out plan is a key component of the strategy, alongside footprint rationalization.

Manufacturing and operating costs across global facilities are being actively managed. The Last Twelve Months (LTM) Operating Expenses, as of the third quarter of 2025, stood at $68.7M. A significant driver for cost reduction has been headcount rightsizing, which saw an approximate 16% reduction over the preceding two years. Furthermore, operating costs have been lowered through headcount reductions in specific segments, such as the income from operations improvement in Power Solutions.

Significant raw material costs remain a factor, with the business explicitly noting that current performance is unfavorably impacted by rising metal basis costs, especially gold and silver. Despite this, NN, Inc. anticipates a third consecutive year of positive free cash flow for 2025, even with these elevated precious metal costs.

Restructuring and rationalization costs are tied to the ongoing plant closure strategy. Softness in global automotive markets created an opportunity for the closure of the final high-cost, unprofitable plant in NN, Inc.'s 5-year plan. These actions are part of the ~$15 million cost-out plan for 2025, which also includes staff reduction and continuous improvement programs.

Selling, General, and Administrative (SG&A) expenses are being managed through a structural change, adopting a 'One Team' shared SG&A approach while simultaneously increasing investment in the commercial team. This expansion includes adding over 40 people in business development and launch roles to support new program growth.

Here is a look at how key cost-related margin metrics performed through the third quarter of 2025:

Metric	Q3 2025 Value (As Reported)	Q3 2025 Value (Adjusted)	Comparison Point
Gross Margin	16.8% of sales	18.8% of sales	Up from 14.5% and 16.3% in Q3 2024, respectively
Adjusted EBITDA Margin	11.9% margin rate	N/A	Up from 10.2% margin rate in Q3 2024
Capital Investment	N/A	$18 to $20 million planned for 2025	Investment to support growth initiatives

The focus on cost reduction is also evident in working capital management, where the company achieved a 20.8% reduction in working capital dollars, moving days of working capital from 79 to 70 days.

The overall cost structure management is tied to several strategic actions:

• Targeting $15 million in total cost savings for 2025.
• Executing on the closure of the final high-cost, unprofitable plant.
• Implementing a 'One Team' shared SG&A structure.
• Investing $18 to $20 million on capital projects in 2025.
• Managing the impact of rising precious metal basis costs.

Finance: draft 13-week cash view by Friday.

NN, Inc. (NNBR) - Canvas Business Model: Revenue Streams

You're looking at the core ways NN, Inc. (NNBR) brings in cash as of late 2025. It's a mix of ongoing product sales, strategic partnerships, and capturing new market share.

The primary engine remains the Sales of high-precision components and assemblies. The full-year 2025 outlook for Net Sales is projected to range between $430 million and $460 million.

A significant, stable stream comes from the international footprint, specifically the Joint Venture with Weifu in Wuxi, China, known as Wuxi Weifu Autocam. This partnership generates approximately $130 million in annual sales. To be fair, NN, Inc.'s total China operations, which include this JV and two wholly-owned businesses, deliver over $200 million in profitable sales.

Growth acceleration is targeted through new customer acquisition, evidenced by the 2025 target for Revenue from new business wins set between $60 million and $70 million. The company reported securing $32.7 million in new business wins in the first half of 2025 alone. Furthermore, over 100 new programs are expected to launch in 2025, which are anticipated to add greater than $45 million in future sales at full run-rate.

Another component of the revenue flow involves Precious metals pass-through pricing adjustments. This mechanism helps offset softness in other areas, like the challenges seen in certain automotive customer volumes. Still, the company anticipates a third consecutive year of positive free cash flow in 2025, even while managing elevated precious metal input costs.

The expected profitability from these streams is strong, with the Adjusted EBITDA expected to be an annual record, ranging from $53 million to $63 million in 2025. The fourth quarter of 2025 is specifically targeted to hit the five-year goal of 14% for Adjusted EBITDA margin.

Here's a quick look at the key financial targets driving these revenue streams for 2025:

Revenue/Profit Metric	Projected 2025 Financial Number
Net Sales Outlook	$430 million to $460 million
China Joint Venture Annual Sales	Approximately $130 million
New Business Wins Target	$60 million to $70 million
Adjusted EBITDA Range	$53 million to $63 million

You can see the focus on future revenue generation through the pipeline:

• Secured over $150 million in new wins since Q1 2023.
• Total new business wins target over three years is $200 million.
• The current opportunity pipeline is valued at over $800 million annually, comprising more than 800 prospective programs.
• More than 170 sales growth awards are set to launch across 2025-2026.

Finance: draft 13-week cash view by Friday.