SALT LAKE CITY, April 24, 2025 (GLOBE NEWSWIRE) -- Clarus Corporation (NASDAQ: CLAR) (“Clarus” and/or the “Company”), a global company focused on the outdoor enthusiast markets, will hold a conference call on Thursday, May 8, 2025, at 5:00 pm ET to discuss its financial results for the first quarter ended March 31, 2025. The financial results will be reported in a press release after the close of regular stock market trading hours on the same day as the conference call. Date: Thursday, May 8, 2025Time: 5:00 ...

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Core Viewpoint - Clarus Corporation (CLAR) reported mixed fourth-quarter 2024 results, with adjusted earnings missing estimates while revenues exceeded expectations, although both metrics declined year-over-year [1][4]. Financial Performance - Adjusted loss per share was 8 cents, compared to a consensus estimate of 7 cents per share, and a loss of 7 cents per share in the prior year [4]. - Revenues reached $71.4 million, surpassing the consensus mark of $69.3 million, but decreased by 6.7% year-over-year due to challenges in the Adventure segment [5]. - Outdoor segment sales increased by 2% year-over-year to $51.1 million, while Adventure segment sales fell by 22.9% to $20.3 million [6]. Operational Highlights - Gross margin improved to 33.4%, up 450 basis points from the previous year, and adjusted EBITDA was $4.4 million, compared to $1.6 million a year ago [7]. - Adjusted EBITDA margin expanded by 400 basis points year-over-year to 6.1% [7]. Balance Sheet - As of December 31, 2024, cash and cash equivalents were $45.4 million, up from $11.3 million a year earlier, while total debt decreased significantly to $1.9 million from $119.8 million [8]. 2025 Outlook - The company expects sales in the range of $250-$260 million for 2025, with adjusted EBITDA projected between $14-$16 million and an adjusted EBITDA margin of 5.9% at the midpoint [9]. - Capital expenditures are forecasted to be between $4 million and $5 million [9].

Clarus Corporation (NASDAQ:CLAR) Q4 2024 Earnings Conference Call March 6, 2025 5:00 PM ET Company Participants Matt Berkowitz - External Director, Investor Relations Warren Kanders - Executive Chairman Mike Yates - Chief Financial Officer Mathew Hayward - Managing Director, Adventure Segment Neil Fiske - President, Black Diamond Equipment Conference Call Participants Anna Glaessgen - B. Riley Securities Matt Koranda - ROTH Capital Laurent Vasilescu - BNP Paribas Peter McGoldrick - Stifel Mike Yates Good af ...

CLARUS Q4 EARNINGS PRESENTATION MARCH 6, 2025 6 February 2023 TODAY'S PRESENTERS CLARUS Warren Kanders EXECUTIVE CHAIRMAN Clarus Mike Yates CFO Clarus Neil Fiske PRESIDENT Black Diamond Equipment Mat Hayward MANAGING DIRECTOR Adventure STRATEGIC PRIORITIES: Q4 AND YTD HIGHLIGHTS Positioned for long-term sustainable growth Black Diamond objective: Simplify and focus on the core Adventure objective: Invest to scale Strong balance sheet/prudent capital allocation Strategic roadmap continues to guide execution ...

Group 1 - Clarus Corporation reported a quarterly loss of $0.08 per share, which was worse than the Zacks Consensus Estimate of $0.07, marking an earnings surprise of -214.29% [1] - The company posted revenues of $71.41 million for the quarter ended December 2024, exceeding the Zacks Consensus Estimate by 3.04%, but down from $76.5 million year-over-year [2] - Over the last four quarters, Clarus has surpassed consensus EPS estimates only once and has topped consensus revenue estimates two times [2] Group 2 - The stock has underperformed, losing about 4.7% since the beginning of the year compared to the S&P 500's decline of -0.7% [3] - The current consensus EPS estimate for the upcoming quarter is $0.08 on revenues of $75.4 million, and for the current fiscal year, it is $0.31 on revenues of $282.08 million [7] - The Zacks Industry Rank for Leisure and Recreation Products is in the bottom 39% of over 250 Zacks industries, indicating potential challenges for stock performance [8]

Financial Performance - Total sales decreased by $21,705, or 7.6%, to $264,315 for the year ended December 31, 2024, compared to $286,020 for the year ended December 31, 2023[267]. - Gross profit decreased by $4,892, or 5.0%, to $92,619, with a gross margin of 35.0% for the year ended December 31, 2024, compared to 34.1% in 2023[273]. - Operating loss improved to $(21,107) in 2023 compared to $(106,483) in 2022, indicating a reduction in losses of approximately 80.2%[285]. - The net loss for the year was $52,287,000, compared to a net loss of $10,146,000 in 2023, representing a substantial increase in losses[319]. - The company reported a consolidated loss from continuing operations before income taxes of $(36,010) million for the year ended December 31, 2024[443]. Cash Flow and Dividends - In 2024, the total quarterly cash dividends paid were $3,831,000, compared to $3,750,000 in 2023 and $3,721,000 in 2022, reflecting a consistent increase in dividend payouts[254]. - Net cash used in operating activities was $(7,300) in 2024, compared to $31,924 provided in 2023, a change of $39,224[289]. - Net cash provided by investing activities was $165,160 in 2024, a significant increase from $(11,416) in 2023, indicating a positive change of $176,576[292]. - The company's cash position improved significantly, with cash increasing to $45,359,000 in 2024 from $11,324,000 in 2023[317]. Restructuring and Charges - The company incurred restructuring charges of $3,223,000 in 2023 and $1,948,000 in 2024, with cumulative charges since 2023 totaling $5,171,000, aimed at facilitating long-term sustainable growth[255]. - The company anticipates completing its restructuring activities in 2025, with ongoing evaluations of cost reduction actions[425]. - Total restructuring charges amounted to $1,948 million, with $1,349 million attributed to employee termination benefits[428]. Acquisitions and Divestitures - The company completed the acquisition of TRED Outdoors Pty Ltd on October 9, 2023, further expanding its portfolio in the outdoor equipment market[252]. - The company received net proceeds of approximately $37,871,000 from the sale of its Precision Sport segment, which includes Sierra and Barnes Bullets, as part of a strategic divestiture[253]. - Clarus Corporation acquired RockyMounts for a total purchase price of up to $8,000, including $4,000 in cash at closing and contingent consideration of up to $2,000 based on net sales targets[369]. - The acquisition of TRED was completed for an aggregate purchase price of approximately $6,849, which included $5,659 in cash and additional contingent consideration of up to $638[372]. Impairments and Goodwill - Impairment of goodwill increased to $36,264 for the year ended December 31, 2024, compared to $0 in 2023[279]. - The company experienced an impairment of goodwill amounting to $36.264 million in 2024, with no impairment recorded in 2023[322]. - Goodwill for the Adventure segment decreased by $36,264,000 due to impairment as of December 31, 2024, reflecting challenging market conditions[387]. Sales and Market Trends - Domestic sales decreased by $6,640, or 5.9%, to $105,745, while international sales decreased by $15,065, or 8.7%, to $158,570 during the same period[270][271]. - The company’s brands, including Black Diamond and Rhino-Rack, are positioned for sustainable long-term growth, driven by powerful industry trends in outdoor and adventure sports[248]. Legal and Compliance Issues - The company recorded a liability of $2,500 million for potential penalties from the U.S. Consumer Product Safety Commission (CPSC) investigation[437]. - Legal expenses incurred in 2024 for ongoing litigation amounted to $3,088 million, which includes the $2,500 million recorded liability[438]. - The CPSC intends to recommend civil monetary penalties totaling $25,135 million for compliance failures related to avalanche transmitters[433]. Research and Development - Total research and development costs for continuing operations were $12,171, $12,740, and $13,029 for the years ended December 31, 2024, 2023, and 2022, respectively[354]. Stock and Compensation - The Company granted stock options for an aggregate of 1,250 shares in 2024, with a grant price ranging from $4.63 to $6.81 per share[417]. - Total non-cash stock compensation expense for continuing operations was $11,198, $11,681, and $8,617 for the years 2024, 2023, and 2022 respectively[422].

Financial Performance - Fourth quarter sales were $71.4 million, a decrease from $76.5 million in the same quarter last year[4] - Net loss for the fourth quarter was $65.5 million, or $(1.71) per diluted share, compared to a net loss of $8.4 million, or $(0.22) per diluted share in the prior year[4] - Full year 2024 sales decreased 7.6% to $264.3 million from $286.0 million in 2023, driven by softness across all selling channels[17] - The Adventure segment saw a 22.9% decline in sales to $20.3 million compared to $26.4 million in the year-ago quarter[9] - Total sales for the three months ended December 31, 2024, were $71.405 million, a decrease of 6.4% from $76.503 million in the same period of 2023[37] - The net loss for the three months ended December 31, 2024, was $65.521 million, compared to a net loss of $8.389 million in the same period of 2023[37] - For the twelve months ended December 31, 2024, total sales were $264.315 million, down from $286.020 million in 2023, representing a decrease of 7.6%[39] - The net loss for the twelve months ended December 31, 2024, was $52.287 million, compared to a net loss of $10.146 million in 2023[39] - The company reported an operating loss of $70.379 million for the twelve months ended December 31, 2024, compared to an operating loss of $21.107 million in 2023[39] Gross Margin and EBITDA - Gross margin improved to 33.4% compared to 28.9% in the year-ago quarter, with adjusted gross margin at 38.0% versus 34.7%[10] - Adjusted EBITDA from continuing operations was $4.4 million, with an adjusted EBITDA margin of 6.1%, compared to $1.6 million and 2.1% in the same quarter last year[15] - Adjusted EBITDA for the twelve months ended December 31, 2024, was $6.875 million, compared to $7.348 million for the same period in 2023[49] - The EBITDA margin for the twelve months ended December 31, 2024, was (21.4)%, down from (2.2)% in the previous year[49] - Adjusted EBITDA margin for the three months ended December 31, 2024, was 6.1%, compared to 2.1% in the same period of 2023[48] Cash and Debt - Cash and cash equivalents totaled $45.4 million, significantly up from $11.3 million, while total debt related to the RockyMounts acquisition was $1.9 million[21] - Cash and cash equivalents increased to $45.359 million as of December 31, 2024, from $11.324 million as of December 31, 2023[35] - Total assets decreased to $294.094 million as of December 31, 2024, from $495.338 million as of December 31, 2023[35] - Total liabilities decreased to $61.001 million as of December 31, 2024, from $203.218 million as of December 31, 2023[35] Acquisitions and Strategic Moves - The company completed the acquisition of RockyMounts, enhancing its product capabilities in the bike-rack market[1] - For fiscal year 2025, the company expects sales between $250 million to $260 million and adjusted EBITDA of approximately $14 million to $16 million[27] - The company plans to focus on restructuring and cost management strategies to improve future performance[44][46] Impairments and Expenses - The company established a full valuation allowance of $21.0 million for deferred tax assets during the fourth quarter[28] - The company incurred $36,264 thousand in goodwill impairment during Q4 2024[44] - The company incurred impairment of goodwill totaling $36.264 million for the twelve months ended December 31, 2024[49] - Stock-based compensation expenses for Q4 2024 were $(1,570) thousand, compared to $(1,218) thousand in Q4 2023[44][45] - The company reported a significant increase in legal costs and regulatory matter expenses, totaling $3.842 million for the twelve months ended December 31, 2024[49] Tax and Other Financial Metrics - The effective tax rate for Q4 2024 was 40.5%, significantly higher than the negative tax rate of (19.0)% in Q4 2023[44][45] - Adjusted loss from continuing operations for Q4 2024 was $(3,162) thousand, compared to an adjusted income of $1,638 thousand in Q4 2023[45] - The adjusted EPS for Q4 2024 was $(0.08), a decline from adjusted EPS of $0.04 in Q4 2023[45] Segment Performance - The outdoor segment reported an operating loss of $999 thousand for the twelve months ended December 31, 2024, compared to a loss of $5.155 million in 2023[49] - Restructuring charges for the three months ended December 31, 2024, amounted to $939 thousand, while for the same period in 2023, it was $1.411 million[48]

Fourth Quarter Sales of $71.4 million, Adjusted EBITDA of $4.4 million, and Free Cash Flow of $14.4 million Completed the Acquisition of RockyMounts, Expanding Adventure’s Bike-Rack Product Capabilities Globally SALT LAKE CITY, March 06, 2025 (GLOBE NEWSWIRE) -- Clarus Corporation (NASDAQ: CLAR) (“Clarus” and/or the “Company”), a global company focused on the outdoor enthusiast markets, reported financial results for the fourth quarter and full year ended December 31, 2024. Fourth Quarter 2024 Financial Sum ...

Core Viewpoint - Clarus Corporation (CLAR) is set to report its fourth-quarter 2024 results on March 6, with expectations of improved earnings per share but a decline in revenues compared to the previous year [1][3]. Financial Performance Expectations - The Zacks Consensus Estimate for fourth-quarter earnings per share (EPS) is 7 cents, reflecting a 200% improvement from a loss of 7 cents in the same quarter last year [3]. - Revenue expectations are pegged at $69.3 million, indicating a 9.4% decrease from the previous year's figure [3]. Factors Influencing Quarterly Results - Clarus' fourth-quarter performance is anticipated to benefit from product simplification, cost efficiencies, and strategic investments [4]. - The company's digital and direct-to-consumer strategies, including enhancements to e-commerce platforms and new product launches like the Recon platform, are expected to support sales [5]. - Focus on high-margin "A-style" products is likely to enhance profitability by improving gross margins and inventory turnover [6]. Operational Improvements - Operational improvements and restructuring within the Adventure segment are expected to drive cost efficiencies, with structural changes aimed at optimizing the global supply chain [7]. - The company anticipates adjusted EBITDA for the fourth quarter to be between $5 million and $7 million [7]. Market Challenges - Clarus continues to face a challenging macroeconomic environment, with headwinds in consumer spending impacting overall demand [8]. - Supply chain disruptions and softer vehicle sales in Australia may negatively affect the company's fourth-quarter performance [8]. Earnings Prediction Model - The current model does not predict an earnings beat for Clarus, as the company has an Earnings ESP of 0.00% and a Zacks Rank of 3 (Hold) [9][10].