SALT LAKE CITY, July 18, 2024 (GLOBE NEWSWIRE) -- Clarus Corporation (NASDAQ: CLAR) ("Clarus" and/or the "Company") has made three important strategic hires for its Adventure segment ("Adventure") in order to accelerate growth in the U.S. and international markets and strengthen its global OEM initiatives. Adventure, comprised of Rhino-Rack, MAXTRAX, and TRED Outdoors, has appointed Tripp Wyckoff to the role of General Manager of the Americas, David Cook as Global Head of OEM and Daniel Bruntsch as Head of ...

About Clarus Corporation For more information or to schedule 1x1 meetings, please contact your respective conference representative. SALT LAKE CITY, May 15, 2024 (GLOBE NEWSWIRE) -- Clarus Corporation (NASDAQ:CLAR) ("Clarus" and/or the "Company"), a global company focused on the outdoor enthusiast markets, announced today that Chief Financial Officer Mike Yates will be participating in the following investor conferences: Headquartered in Salt Lake City, Utah, Clarus Corporation is a global leading designer, ...

Financial Data and Key Metrics Changes - Clarus Corporation reported Q1 2024 revenue of $69.3 million, exceeding guidance of $64 million to $66 million, and generated adjusted EBITDA of $2 million, beating expectations of $1 million to $2 million [21][36][39] - The loss from continuing operations was $6.5 million or $0.17 per diluted share, compared to a loss of $2 million or $0.05 per diluted share in the prior year [38][39] - Cash and cash equivalents increased to $47.5 million from $11.3 million at the end of 2023, reflecting improved liquidity following the sale of the Precision Sports segment [41] Business Line Data and Key Metrics Changes - The Adventure segment saw a 27% year-over-year sales increase, driven by strong performance in wholesale and new product launches [22][16] - The Outdoor segment's North American wholesale channel grew by 10% year-over-year, indicating a positive turnaround [29] - Overall inventory was reduced by 15% year-over-year, with a focus on improving inventory quality and reducing SKU complexity [31][32] Market Data and Key Metrics Changes - The automotive sector in Australia experienced a record first quarter with 300,000 sales, a 13% year-over-year increase, which positively impacts demand for related products [23] - In the U.S., new vehicle sales rose by 5.6% year-over-year to 3.8 million units in Q1 2024, supporting market fundamentals [23] Company Strategy and Development Direction - The company aims to focus on organic growth through reinvestment in its two segments, Outdoor and Adventure, while also considering selective M&A opportunities [14][19] - A strategic roadmap was outlined, emphasizing multiyear growth and margin expansion targets for both segments [7][19] - The company has transitioned to a pure-play ESG-friendly outdoor business following the sale of its Precision Sports segment [19][20] Management's Comments on Operating Environment and Future Outlook - Management acknowledged a challenging macroeconomic backdrop but noted stabilization in the North American wholesale market [13] - The company reaffirmed its full-year guidance, expecting sales between $270 million and $280 million and adjusted EBITDA of approximately $16 million to $18 million [46][47] - Management expressed confidence in the team's ability to drive profitable growth despite existing hurdles [47] Other Important Information - The company has a debt-free balance sheet with over $47 million in cash, providing flexibility for future growth initiatives [20] - Legal costs related to ongoing litigation were highlighted, with an estimated liability of $2.5 million recorded in Q1 [40][45] Q&A Session Summary Question: Guidance for revenues and back half performance - Management indicated that the guidance reflects a mix of conservatism and the need to right-size the business, with expectations for a return to profitability in the back half of the year [52] Question: Gross margin evolution and promotional pricing impact - Management expects gross margins to improve slightly in Q2, with promotional pricing exerting a 30 to 40 basis point pressure on margins [55] Question: Inventory levels at key retail partners - Management noted improvements in fill rates and reduced friction with retail partners, indicating a positive trend in inventory management [61] Question: Segment performance and growth opportunities - Management acknowledged that both segments are experiencing growth, with a focus on core categories and strategic investments to enhance margins [66] Question: PFAS products and inventory management - Management is actively working to move PFAS inventory and expects to manage exposure effectively while reducing overall inventory strategically [75][76]

$1.1M 2024 GUIDANCE Weighted average shares outstanding: Basic 38,208 37,137 Diluted 38,208 37,137 THREE MONTHS ENDED Forward-Looking Statements Please note that in this presentation we may use words such as "appears," "anticipates," "believes," "bleileves," "fintends," "future," and similar expressions which const for ward-looking statements within the meaning of the eate harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are made b expectations and belief ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended: March 31, 2024 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Common Stock, par value $.0001 per share CLAR NASDAQ Global Select Market Accelerated filer ☒ ☐ Table of Contents Indicate by check mark whether the registrant: (1) has filed all reports required to ...

Clarus Reports First Quarter 2024 Results Reduced Apparel Inventory at Outdoor 38% SALT LAKE CITY, May 2, 2024 (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 first quarter ended March 31, 2024. · Sales of $69.3 million compared to $70.3 million. · Gross margin was 35.9% compared to 36.3%; adjusted gross margin of 36.9% compared to 36.3%. · Net income, which includes the impa ...

SALT LAKE CITY, April 18, 2024 (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 2, 2024, at 5:00 pm ET to discuss its financial results for the first quarter ended March 31, 2024. 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 2, 2024Time: 5:00 ...

Clarus Corporation (CLAR) reported fourth-quarter 2023 financial numbers, with the top and bottom lines missing the Zacks Consensus Estimate. The bottom line missed the consensus estimate for the third consecutive quarter. Following the results, the company’s shares lost 2.3% in the after-hours trading session on Mar 7.Warren Kanders, Clarus’ executive chairman, said despite facing significant macroeconomic challenges in 2023 that negatively affected consumer interest, the company had implemented crucial me ...

SALT LAKE CITY, March 08, 2024 (GLOBE NEWSWIRE) -- The board of directors for Clarus Corporation (NASDAQ:CLAR) ("Clarus" and/or the "Company"), a global company focused on the outdoor enthusiast markets, has approved the respective requests of two of its largest shareholders, Greenhouse Funds LLLP ("Greenhouse") and Clarus Executive Chairman Warren Kanders and its affiliates (collectively, "Kanders"), to be permitted under the Company's Rights Agreement dated as of February 12, 2008, to increase their benef ...

Clarus Corporation (NASDAQ:CLAR) Q4 2023 Earnings Conference Call March 7, 2024 5:00 PM ET Company Participants Matt Berkowitz - External Director, Investor Relations Warren Kanders - Executive Chairman Michael Yates - Chief Financial Officer Conference Call Participants Laurent Vasilescu - BNP Paribas Matt Koranda - Roth MKM Anna Glaessgen - B. Riley Mark Smith - Lake Street Operator Good afternoon everyone, and thank you for participating in today's conference call to discuss Clarus Corporation's Financia ...