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 June 3 0 , 2026 and December 31, 2025 3

Condensed Consolidated Statements of Earnings for the Three and Six Months Ended June 3 0 , 2026 and 2025 4

Condensed Consolidated Statements of Comprehensive Income for the Three and Six Months Ended June 3 0 , 2026 and 2025 5

Condensed Consolidated Statements of Changes in Stockholders' Equity for the Three and Six Months Ended June 3 0 , 2026 and 2025 6

Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 3 0 , 2026 and 2025 7

Notes to Condensed Consolidated Financial Statements 8

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 24

Item 3. Quantitative and Qualitative Disclosures About Market Risk 33

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 34

Item 1. Financial Statements BALCHEM CORPORATION Condensed Consolidated Balance Sheets (Dollars in thousands, except share and per share data) Assets June 30, 2026 December 31, 2025 Current assets: (unaudited) Cash and cash equivalents $ 63,174 $ 74,570 Accounts receivable, net of allowance for credit losses of $ 1,128 and $ 862 at June 30, 2026 and December 31, 2025, respectively 148,973 143,596 Inventories, net 161,551 131,449 Prepaid expenses 8,527 9,778 Prepaid income taxes 868 - Other current assets 5,331 6,221 Total current assets 388,424 365,614 Property, plant and equipment, net 304,702 306,648 Goodwill 808,809 816,375 Customer relationships and lists, net 123,728 132,994 Other intangible assets with finite lives, net 27,915 30,295 Right of use assets - operating leases 12,703 14,672 Right of use assets - finance lease 1,417 1,520 Other non-current assets 19,306 18,134 Total assets $ 1,687,004 $ 1,686,252 Liabilities and Stockholders' Equity Current liabilities: Trade accounts payable $ 70,451 $ 60,425 Accrued expenses 51,791 49,288 Accrued compensation and other benefits 19,965 27,896 Dividends payable 166 31,044 Income taxes payable - 3,912 Operating lease liabilities - current 3,172 3,614 Finance lease liabilities - current 210 205 Total current liabilities 145,755 176,384 Revolving loan 152,000 164,000 Deferred income taxes 52,943 54,143 Operating lease liabilities - non-current 9,895 11,324 Finance lease liabilities - non-current 1,438 1,544 Other long-term obligations 22,595 21,444 Total liabilities 384,626 428,839 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; 31,955,534 and 32,058,121 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively 2,132 2,139 Additional paid-in capital 66,741 92,331 Retained earnings 1,206,296 1,121,396 Accumulated other comprehensive income 27,209 41,547 Total stockholders' equity 1,302,378 1,257,413 Total liabilities and stockholders' equity $ 1,687,004 $ 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)

See accompanying notes to condensed consolidated financial statements.

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

Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Net earnings $ 44,615 $ 38,278 $ 84,900 $ 75,331 Other comprehensive (loss) income, net of tax: Foreign currency translation adjustment ( 4,534 ) 43,776 ( 14,636 ) 65,498 Change in postretirement benefit plans ( 6 ) ( 1 ) 298 ( 239 ) Other comprehensive (loss) income ( 4,540 ) 43,775 ( 14,338 ) 65,259 Comprehensive income $ 40,075 $ 82,053 $ 70,562 $ 140,590

See accompanying notes to condensed consolidated financial statements.

BALCHEM CORPORATION Condensed Consolidated Statements of Changes in Stockholders' Equity For the Three and Six Months Ended June 30, 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) Six Months Ended June 30, 2026 2025 Cash flows from operating activities: Net earnings $ 84,900 $ 75,331 Adjustments to reconcile net earnings to net cash provided by operating activities: Depreciation and amortization 24,711 22,417 Stock compensation expense 11,277 9,648 Deferred income taxes ( 354 ) ( 124 ) Provision for (recovery of) credit losses 274 ( 108 ) Unrealized loss (gain) on foreign currency transactions and deferred compensation 688 ( 843 ) Loss (gain) on disposal of assets and asset impairment 492 ( 117 ) Changes in assets and liabilities Accounts receivable ( 6,452 ) ( 13,262 ) Inventories ( 31,434 ) ( 13,074 ) Prepaid expenses and other current assets 1,935 ( 618 ) Accounts payable and accrued expenses 4,823 8,682 Income taxes ( 4,832 ) ( 4,410 ) Other 744 187 Net cash provided by operating activities 86,772 83,709 Cash flows from investing activities: Capital expenditures and intangible assets acquired ( 17,138 ) ( 12,372 ) Cash paid for acquisitions, net of cash acquired - ( 323 ) Proceeds from sale of assets 7 267 Investment in affiliates ( 95 ) ( 105 ) Net cash used in investing activities ( 17,226 ) ( 12,533 ) Cash flows from financing activities: Proceeds from revolving loan 80,000 63,000 Principal payments on revolving loan ( 92,000 ) ( 63,000 ) Principal payments on finance leases ( 102 ) ( 97 ) Proceeds from stock options exercised 7,742 6,222 Dividends paid ( 30,772 ) ( 28,265 ) Repurchases of common stock ( 44,484 ) ( 38,589 ) Net cash used in financing activities ( 79,616 ) ( 60,729 ) Effect of exchange rate changes on cash ( 1,326 ) 5,465 (Decrease) increase in cash and cash equivalents ( 11,396 ) 15,912 Cash and cash equivalents beginning of period 74,570 49,515 Cash and cash equivalents end of period $ 63,174 $ 65,427

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 and six months ended June 30, 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. While the adoption of ASU 2024-03 is not expected to have an effect on our consolidated financial statements, it is expected to result in incremental disclosures within the notes to our consolidated financial statements.

NOTE 2 - STOCKHOLDERS' EQUITY Stock-Based Compensation The Company's results for the three and six months ended June 30, 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 Increase/(Decrease) for the Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Cost of sales $ 647 $ 536 $ 1,178 $ 974 Operating expenses 5,274 5,302 10,099 8,674 Net earnings ( 4,580 ) ( 4,577 ) ( 8,700 ) ( 7,506 )

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 June 30, 2026, the Plan had 505,548 shares available for future awards. 8

Accounting Standards Codification ("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 six months ended June 30, 2026, the fair value of each option grant was estimated on the date of the grant using the following weighted average assumptions: Six Months Ended June 30, 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

Option activity for the six months ended June 30, 2026 and 2025 is summarized below: For the Six Months Ended June 30, 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 5.2 Granted 71 178.68 Exercised ( 77 ) 100.34 Forfeited ( 1 ) 143.43 Canceled ( 2 ) 139.31 Outstanding as of June 30, 2026 891 $ 126.79 $ 38,255 5.3 Exercisable as of June 30, 2026 642 $ 115.27 $ 34,455 4.3

For the Six Months Ended June 30, 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 5.8 Granted 51 159.18 Exercised ( 68 ) 91.48 Forfeited - - Canceled - - Outstanding as of June 30, 2025 945 $ 118.88 $ 38,084 5.6 Exercisable as of June 30, 2025 638 $ 106.87 $ 33,375 4.4

Other information pertaining to option activity during the three and six months ended June 30, 2026 and 2025 is as follows:

Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Weighted-average fair value of options granted $ - $ - $ 48.90 $ 48.86 Total intrinsic value of stock options exercised ($000s) $ 813 $ 3,370 $ 5,567 $ 4,759

The Company has Restricted Stock Grant Agreements with the Company's non - employee directors and certain employees, which are subject to time-based vesting requirements. The value of the restricted shares is based on the fair value of the award at the date of grant. 9

Non-vested restricted stock activity for the six months ended June 30, 2026 and 2025 is summarized below: Six Months Ended June 30, 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 62 177.50 54 159.14 Vested ( 51 ) 144.89 ( 30 ) 137.83 Forfeited ( 5 ) 154.65 ( 1 ) 145.96 Non-vested balance as of June 30 153 $ 162.86 145 $ 148.91

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: Six Months Ended June 30, 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 %

Non-vested performance share activity for the six months ended June 30, 2026 and 2025 is summarized below:

Six Months Ended June 30, 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 ) 130.29 Forfeited - - ( 4 ) 152.69 Non-vested balance as of June 30 96 $ 171.52 81 $ 160.14