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Date of report (Date of earliest event reported:)
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November 10, 2025
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Tandy Leather Factory, Inc.
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(Exact Name of Registrant as Specified in Its Charter)
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Delaware
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(State or Other Jurisdiction of Incorporation
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1-12368
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75-2543540
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(Commission File Number)
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(IRS Employer Identification Number)
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1900 Southeast Loop 820, Fort Worth, Texas
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76140
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(Address of Principal Executive Offices)
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(Zip Code)
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(817) 872-3200
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(Registrant's Telephone Number, Including Area Code)
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(Former Name or Former Address, if Changed Since Last Report)
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☐
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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☐
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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☐
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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☐
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Title of each class
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Trading Symbol(s)
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Name of each exchange on which registered
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Common Stock, par value $0.0024
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TLF
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Nasdaq
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Item 2.02.
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Results of Operations and Financial Condition
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Item 9.01
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Financial Statements and Exhibits.
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No.
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Exhibit
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Press Release dated November 10, 2025
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| 104 |
Cover page interactive data file (embedded within the Inline XBRL document)
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TANDY LEATHER FACTORY, INC.
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Date: November 10, 2025
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By: /s/ Johan Hedberg
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Johan Hedberg, Chief Executive Officer
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Revenues were $17.3 million, down 0.5% from 2024
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Generated operating loss of $0.7 million versus $0.3 million in 2024
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Net loss of $1.4 million versus $0.1 million in 2024
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Gross margins of 58.9%, up from 57.8% in 2024
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Operating expenses $10.8 million, up 5.4% from 2024
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Adjusted EBITDA* (from operations) of ($0.4) million
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Ended quarter with $12.0 million of cash and cash equivalents
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Quarter ended
September 30, 2025
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Net loss
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$
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(1.4
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)
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Adjustment to net loss (1)
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0.8
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|||
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Adjusted net loss (2)
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$
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(0.6
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)
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Add back:
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||||
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Depreciation and amortization
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0.2
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Interest income
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(0.1
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)
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Income tax provision
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-
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Stock-based compensation
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0.1
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Adjusted EBITDA (from operations)
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$
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(0.4
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)
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| (1) |
This adjustment to net income removes the net proceeds from the sale of our corporate headquarters, related one-time relocation expenses, and tax related tax provision due to the sale.
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| (2) |
Adjusted net income represents income from operations plus interest income.
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