HURCO COMPANIES Business Summary

Hurco Companies Inc. (HURC) is a global industrial technology firm that generates revenue through the design, manufacture, and sale of computer numerical control (CNC) machine tools and proprietary control software. Its business model leverages three primary brands: Hurco, which features the premium WinMax® conversational control system; Milltronics, targeting cost-conscious manufacturers; and Takumi, specializing in high-speed, high-precision equipment for the mold and die industry. Revenue is further diversified through service fees, replacement parts, and integrated automation solutions via its ProCobots division. The company operates across three geographic segments—the Americas, Europe, and Asia Pacific—targeting independent job shops and contract manufacturers. Key direct competitors include DMG Mori, Okuma Corporation, Yamazaki Mazak, and Haas Automation. Hurco occupies a specialized market niche, positioning itself as the premier provider of intuitive, conversational programming technology that enables rapid "print-to-part" transitions for small-to-midsize manufacturing operations. Established in 1968 by co-founders Gerald Roch and Edward Humston, Hurco is led by President and CEO Gregory S. Volovic, a veteran executive with over 20 years of experience in industrial automation and technology-based businesses. The current executive suite includes Sonja K. McClelland (Executive VP and CFO), Jonathon D. Wright (General Counsel and Corporate Secretary), and Haiquynh Jamison (Corporate Controller). Michael Doar, who served as CEO for two decades, remains Executive Chairman as of February 2026, with a planned transition to non-executive Chairman following the upcoming March 12, 2026, annual meeting. The company’s board includes notable members such as Richard Porter and Janaki Sivanesan, and its shareholder base is heavily institutional, featuring significant positions held by BlackRock, Inc., The Vanguard Group, and Brandes Investment Partners.