Brady Corporation delivered a solid QQ1 2025, anchored by 3.6% organic sales growth and a favorable regional mix. The Americas and Asia drove momentum (organic growth of 5.1%), while Europe returned to growth, albeit modestly (0.7%). Total reported revenue rose 13.6% in the quarter, aided by acquisitions ( Acquisitions net of divestitures +8.8% and FX +1.2%). The Gravotech acquisition introduced a meaningful margin dynamic: gross margin declined approximately 110 basis points due to inventory step-ups from purchase accounting; excluding the Gravotech nonrecurring effect, gross margin would have been around 51.4%, in line with the prior year. On a GAAP basis, net income was $46.8 million with EPS of $0.97 (diluted $0.97), while adjusted metrics showed stronger performance: adjusted net income of $54.2 million and adjusted diluted EPS of $1.12, up roughly 10-12% year over year. Operating cash flow was $23.4 million and free cash flow was $16.1 million, reflecting working capital timing items and the annual cadence of inorganic activity. Brady entered fiscal 2025 with a net cash position of about $29 million at quarter-end, supported by disciplined capital allocation (organic investment, dividends, and select acquisitions). Management reaffirmed FY2025 guidance: adjusted diluted EPS of $4.40â$4.70 (GAAP $4.02â$4.32) and organic sales growth in the low single digits, with Depreciation & Amortization around $40 million and capex near $35 million. Looking ahead, the company sees growth opportunities from its Gravotech and AB&R acquisitions, continued product innovation (notably bundled print-and-scan solutions and direct part marking), and a push to expand in high-growth regions such as India and Southeast Asia, while remaining mindful of macro risks (USD strength, inflation, and potential economic slowdown).