Balchem Corp

5 Paragon Drive , Montvale , NJ 07645 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: ( 845 ) 326-5600

Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☑ No ☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☑ No ☐

BALCHEM CORPORATION QUARTERLY REPORT ON FORM 10-Q TABLE OF CONTENTS Page No. PART I FINANCIAL INFORMATION

Item 1. Financial Statements (unaudited)

Condensed Consolidated Balance Sheets as of March 3 1 , 202 6 and December 31, 2025 3

Condensed Consolidated Statements of Earnings for the Three Months Ended March 3 1 , 202 6 and 2025 4

Condensed Consolidated Statements of Comprehensive Income for the Three Months Ended March 3 1 , 202 6 and 2025 5

Condensed Consolidated Statements of Changes in Stockholders' Equity for the Three Months Ended March 3 1 , 202 6 and 2025 6

Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 3 1 , 202 6 and 2025 7

Notes to Condensed Consolidated Financial Statements 8

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 23

Item 3. Quantitative and Qualitative Disclosures About Market Risk 29

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 30

Item 1. Financial Statements BALCHEM CORPORATION Condensed Consolidated Balance Sheets (Dollars in thousands, except share and per share data) Assets March 31, 2026 December 31, 2025 Current assets: (unaudited) Cash and cash equivalents $ 72,873 $ 74,570 Accounts receivable, net of allowance for credit losses of $ 1,148 and $ 862 at March 31, 2026 and December 31, 2025, respectively 154,232 143,596 Inventories, net 146,743 131,449 Prepaid expenses 8,955 9,778 Other current assets 6,138 6,221 Total current assets 388,941 365,614 Property, plant and equipment, net 303,070 306,648 Goodwill 811,452 816,375 Customer relationships and lists, net 127,678 132,994 Other intangible assets with finite lives, net 28,784 30,295 Right of use assets - operating leases 13,661 14,672 Right of use assets - finance lease 1,469 1,520 Other non-current assets 18,687 18,134 Total assets $ 1,693,742 $ 1,686,252 Liabilities and Stockholders' Equity Current liabilities: Trade accounts payable $ 70,729 $ 60,425 Accrued expenses 51,820 49,288 Accrued compensation and other benefits 12,698 27,896 Dividends payable 169 31,044 Income taxes payable 13,473 3,912 Operating lease liabilities - current 3,444 3,614 Finance lease liabilities - current 207 205 Total current liabilities 152,540 176,384 Revolving loan 169,000 164,000 Deferred income taxes 53,376 54,143 Operating lease liabilities - non-current 10,571 11,324 Finance lease liabilities - non-current 1,492 1,544 Other long-term obligations 21,647 21,444 Total liabilities 408,626 428,839 Commitments and contingencies (Note 15) Stockholders' equity: Preferred stock, $ 25 par value. Authorized 2,000,000 shares; no ne issued and outstanding - - Common stock, $ 0.0667 par value. Authorized 120,000,000 shares; 32,128,526 and 32,058,121 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively 2,143 2,139 Additional paid-in capital 89,543 92,331 Retained earnings 1,161,681 1,121,396 Accumulated other comprehensive income 31,749 41,547 Total stockholders' equity 1,285,116 1,257,413 Total liabilities and stockholders' equity $ 1,693,742 $ 1,686,252

See accompanying notes to condensed consolidated financial statements. 3

BALCHEM CORPORATION Condensed Consolidated Statements of Earnings (Dollars in thousands, except per share data) (unaudited)

Three Months Ended March 31, 2026 2025 Net sales $ 270,709 $ 250,519 Cost of sales 169,625 162,351 Gross margin 101,084 88,168 Operating expenses: Selling expenses 21,096 16,926 Research and development expenses 5,881 4,662 General and administrative expenses 18,481 15,565 45,458 37,153 Earnings from operations 55,626 51,015 Other expenses, net: Interest expense, net 2,213 2,924 Other expense, net 891 151 3,104 3,075 Earnings before income tax expense 52,522 47,940 Income tax expense 12,237 10,887 Net earnings $ 40,285 $ 37,053 Net earnings per common share - basic $ 1.26 $ 1.14 Net earnings per common share - diluted $ 1.25 $ 1.13

See accompanying notes to condensed consolidated financial statements.

BALCHEM CORPORATION Condensed Consolidated Statements of Comprehensive Income (Dollars in thousands) (unaudited)

Three Months Ended March 31, 2026 2025 Net earnings $ 40,285 $ 37,053 Other comprehensive (loss) income, net of tax: Foreign currency translation adjustment ( 10,102 ) 21,722 Change in postretirement benefit plans 304 ( 238 ) Other comprehensive (loss) income ( 9,798 ) 21,484 Comprehensive income $ 30,487 $ 58,537

See accompanying notes to condensed consolidated financial statements.

BALCHEM CORPORATION Condensed Consolidated Statements of Changes in Stockholders' Equity For the Three Months Ended March 31, 2026 and 2025 (Dollars in thousands, except share and per share data) (Unaudited)

See accompanying notes to condensed consolidated financial statements.

BALCHEM CORPORATION Condensed Consolidated Statements of Cash Flows (Dollars in thousands) (unaudited) Three Months Ended March 31, 2026 2025 Cash flows from operating activities: Net earnings $ 40,285 $ 37,053 Adjustments to reconcile net earnings to net cash provided by operating activities: Depreciation and amortization 12,491 11,014 Stock compensation expense 5,356 3,810 Deferred income taxes ( 187 ) ( 115 ) Provision for (recovery of) credit losses 289 ( 79 ) Unrealized loss on foreign currency transactions and deferred compensation 717 24 Loss on disposal of assets and asset impairment 151 65 Changes in assets and liabilities Accounts receivable ( 11,409 ) ( 10,069 ) Inventories ( 16,216 ) ( 12,897 ) Prepaid expenses and other current assets 763 ( 859 ) Accounts payable and accrued expenses ( 1,554 ) ( 737 ) Income taxes 9,487 9,123 Other ( 112 ) 124 Net cash provided by operating activities 40,061 36,457 Cash flows from investing activities: Capital expenditures and intangible assets acquired ( 6,252 ) ( 5,559 ) Cash paid for acquisitions, net of cash acquired - ( 323 ) Proceeds from sale of assets 2 - Investment in affiliates ( 42 ) ( 30 ) Net cash used in investing activities ( 6,292 ) ( 5,912 ) Cash flows from financing activities: Proceeds from revolving loan 52,000 29,000 Principal payments on revolving loan ( 47,000 ) ( 29,000 ) Principal payments on finance leases ( 51 ) ( 49 ) Proceeds from stock options exercised 6,727 1,668 Dividends paid ( 30,769 ) ( 28,263 ) Repurchases of common stock ( 15,690 ) ( 5,325 ) Net cash used in financing activities ( 34,783 ) ( 31,969 ) Effect of exchange rate changes on cash ( 683 ) 1,810 (Decrease) increase in cash and cash equivalents ( 1,697 ) 386 Cash and cash equivalents beginning of period 74,570 49,515 Cash and cash equivalents end of period $ 72,873 $ 49,901

See accompanying notes to condensed consolidated financial statements. 7

BALCHEM CORPORATION Notes to Condensed Consolidated Financial Statements (Unaudited) (All dollar amounts in thousands, except share and per share data)

NOTE 1 - CONDENSED CONSOLIDATED FINANCIAL STATEMENTS The condensed consolidated financial statements presented herein have been prepared in accordance with the accounting policies described in the December 31, 2025 consolidated financial statements, and should be read in conjunction with the consolidated financial statements and notes, which appear in the Annual Report on Form 10-K for the year ended December 31, 2025. The condensed consolidated financial statements reflect the operations of Balchem Corporation and its subsidiaries (the "Company"or"Balchem"). All intercompany balances and transactions have been eliminated in consolidation. In the opinion of management, the unaudited condensed consolidated financial statements furnished in this Form 10-Q include all adjustments necessary for a fair presentation of the financial position, results of operations and cash flows for the interim periods presented. All such adjustments are of a normal, recurring nature. The condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("U.S. GAAP"or"GAAP") governing interim financial statements and the instructions to Form 10-Q and Article 10 of Regulation S-X under the Securities Exchange Act of 1934 (the "Exchange Act") and therefore do not include some information and notes necessary to conform to annual reporting requirements. The results of operations for the three months ended March 31, 2026 are not necessarily indicative of the operating results expected for the full year or any interim period. Certain reclassifications have been made to prior period amounts to conform with the current period's presentation.

Recently Issued Accounting Standards In November 2024, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2024-03, "Income Statement - Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40)." The new guidance is intended to enhance transparency and disclosures by requiring public entities to provide disaggregated disclosures of certain categories of expenses on an annual and interim basis. The ASU is effective for fiscal years beginning after December 15, 2026 and interim periods beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating the impact that the adoption of ASU 2024-03 will have on the consolidated financial statements and related disclosures.

NOTE 2 - STOCKHOLDERS' EQUITY Stock-Based Compensation The Company's results for the three months ended March 31, 2026 and 2025 reflected the following stock-based compensation cost, and such compensation cost had the following effects on net earnings:

Increase/(Decrease) for the Three Months Ended March 31, 2026 2025 Cost of sales $ 531 $ 438 Operating expenses 4,825 3,372 Net earnings ( 4,120 ) ( 2,928 )

The Company's omnibus incentive plan ("the Plan") allows for the granting of stock awards and options to purchase common stock. Both incentive stock options and nonqualified stock options can be awarded under the plan. The Company has approved and reserved a number of shares to be issued upon exercise of the outstanding options that is adequate to cover all exercises. As of March 31, 2026, the Plan had 503,567 shares available for future awards.

Option activity for the three months ended March 31, 2026 and 2025 is summarized below: For the Three Months Ended March 31, 2026 Shares (000s) Weighted Average Exercise Price Aggregate Intrinsic Value Weighted Average Remaining Contractual Term Outstanding as of December 31, 2025 900 $ 120.48 $ 29,888 Granted 71 178.68 Exercised ( 66 ) 101.52 Forfeited - - Canceled ( 2 ) 139.31 Outstanding as of March 31, 2026 903 $ 126.38 $ 39,577 5.5 Exercisable as of March 31, 2026 653 $ 114.89 $ 35,662 4.5

For the Three Months Ended March 31, 2025 Shares (000s) Weighted Average Exercise Price Aggregate Intrinsic Value Weighted Average Remaining Contractual Term Outstanding as of December 31, 2024 962 $ 114.81 $ 46,346 Granted 51 159.18 Exercised ( 18 ) 90.50 Forfeited - - Canceled - - Outstanding as of March 31, 2025 995 $ 117.53 $ 48,212 5.6 Exercisable as of March 31, 2025 688 $ 105.78 $ 41,408 4.4

ASC 718, "Compensation-Stock Compensation", requires companies to measure the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award. The weighted average fair values of the stock options granted under the Plan were calculated using either the Black-Scholes model or the Binomial model, whichever was deemed to be most appropriate. For the three months ended March 31, 2026, the fair value of each option grant was estimated on the date of the grant using the following weighted average assumptions: Three Months Ended March 31, 2026 2025 Dividend yields 0.5 % 0.6 % Expected volatilities 23.5 % 26.0 % Risk-free interest rates 3.8 % 4.5 % Expected lives 5.2 years 5.2 years

Other information pertaining to option activity during the three months ended March 31, 2026 and 2025 is as follows:

Three Months Ended March 31, 2026 2025 Weighted-average fair value of options granted $ 48.90 $ 48.86 Total intrinsic value of stock options exercised ($000s) $ 4,754 $ 1,388

Non-vested restricted stock activity for the three months ended March 31, 2026 and 2025 is summarized below: Three Months Ended March 31, 2026 2025 Shares (000s) Weighted Average Grant Date Fair Value Shares (000s) Weighted Average Grant Date Fair Value Non-vested balance as of December 31 147 $ 150.15 122 $ 141.62 Granted 59 178.34 54 159.11 Vested ( 50 ) 145.25 ( 28 ) 138.21 Forfeited ( 1 ) 155.53 ( 1 ) 140.76 Non-vested balance as of March 31 155 $ 162.45 147 $ 148.68

Non-vested performance share activity for the three months ended March 31, 2026 and 2025 is summarized below:

Three Months Ended March 31, 2026 2025 Shares (000s) Weighted Average Grant Date Fair Value Shares (000s) Weighted Average Grant Date Fair Value Non-vested balance as of December 31 81 $ 160.14 79 $ 150.73 Granted 50 173.60 50 147.96 Vested ( 35 ) 148.64 ( 44 ) 109.95 Forfeited - - ( 4 ) 150.11 Non-vested balance as of March 31 96 $ 171.52 81 $ 160.14

The Company also has performance share ("PS") awards, which provide the recipients the right to receive a certain number of shares of the Common Stock in the future, subject to certain performance hurdles, depending on the date of the grant: (1) an EBITDA performance hurdle, where vesting is dependent upon the Company achieving a certain EBITDA percentage growth over the performance period (typically three years ), (2) a relative total shareholder return ("TSR") market condition where vesting is dependent upon the Company's TSR performance over the performance period (typically three years ) relative to a comparator group consisting of the Russell 2000 index constituents, or (3) an EBITDA performance hurdle, where vesting is dependent upon the Company achieving a certain EBITDA percentage growth over the performance period (typically three years) and modified based on the Company's TSR performance over the performance period relative to a comparator group consisting of the Russell 2000 index constituents. Expense is measured based on the fair value of the grant at the date of grant. A Monte-Carlo simulation has been used to estimate the fair value using the following assumptions: Three Months Ended March 31, 2026 2025 Dividend yields - % - % Expected volatilities 22.8 % 25.5 % Risk-free interest rates 3.5 % 4.3 % Initial TSR's 16.0 % - 8.8 %