Condensed Consolidated Financial Statements [Condensed Consolidated Balance Sheets](index=2&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of March 31, 2024, total assets slightly decreased to $3.41 billion, while total liabilities reduced to $1.84 billion, leading to an increase in shareholders' equity to $1.57 billion Condensed Consolidated Balance Sheet (As of March 31, 2024 vs. December 31, 2023) | Account | March 31, 2024 ($ in thousands) | December 31, 2023 ($ in thousands) | | :--- | :--- | :--- | | **Total Current Assets** | 1,723,833 | 1,897,284 | | Cash and cash equivalents | 131,894 | 154,061 | | Accounts receivable, net | 780,557 | 985,172 | | Inventories | 750,032 | 699,740 | | **Total Assets** | **3,409,703** | **3,487,070** | | **Total Current Liabilities** | 895,819 | 1,125,132 | | Accounts payable | 409,371 | 459,651 | | Accrued expenses and other current liabilities | 412,141 | 620,333 | | **Total Liabilities** | **1,836,133** | **2,008,177** | | **Total Shareholders' Equity** | **1,573,570** | **1,478,893** | [Condensed Consolidated Statements of Income](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income) For Q1 2024, net sales grew 24.7% to $1.07 billion, driving a 25.9% increase in net income to $109.6 million and diluted EPS of $0.78 Q1 2024 vs. Q1 2023 Performance | Metric | Q1 2024 ($ in thousands) | Q1 2023 ($ in thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Net Sales | 1,066,228 | 855,282 | +24.7% | | Gross Profit | 526,617 | 400,543 | +31.5% | | Operating Income | 154,942 | 122,630 | +26.3% | | Net Income | 109,612 | 87,096 | +25.9% | Net Income Per Share | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Net income per share, basic | $0.79 | $0.63 | | Net income per share, diluted | $0.78 | $0.63 | [Condensed Consolidated Statements of Comprehensive Income](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Income) Comprehensive income for Q1 2024 increased to $108.1 million, primarily driven by net income, despite a slight offset from foreign currency translation adjustments Comprehensive Income Breakdown (Q1 2024 vs. Q1 2023) | Item | Q1 2024 ($ in thousands) | Q1 2023 ($ in thousands) | | :--- | :--- | :--- | | Net Income | 109,612 | 87,096 | | Foreign currency translation adjustments | (3,374) | 5,257 | | Unrealized gain (loss) on derivative instruments, net | 1,870 | (2,352) | | **Comprehensive Income** | **108,108** | **90,001** | [Condensed Consolidated Statements of Shareholders' Equity](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Shareholders'%20Equity) Shareholders' equity increased to $1.57 billion by March 31, 2024, primarily due to net income and share-based compensation, contrasting with a distribution to the Former Parent in Q1 2023 - For the three months ended March 31, 2024, total shareholders' equity increased by **$94.7 million**, driven by net income of **$109.6 million**[13](index=13&type=chunk) - For the three months ended March 31, 2023, equity changes included a distribution of **$60.3 million** paid to the Former Parent[15](index=15&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operating activities decreased to $43.9 million in Q1 2024, primarily due to working capital changes, leading to a $22.2 million reduction in cash and cash equivalents Cash Flow Summary (Q1 2024 vs. Q1 2023) | Cash Flow Activity | Q1 2024 ($ in thousands) | Q1 2023 ($ in thousands) | | :--- | :--- | :--- | | Net cash provided by operating activities | 43,882 | 89,762 | | Net cash used in investing activities | (26,886) | (7,799) | | Net cash used in financing activities | (37,920) | (98,631) | | **Net decrease in cash** | **(22,167)** | **(11,319)** | - The decrease in operating cash flow was largely driven by a **$207.2 million** use of cash from accrued expenses and other liabilities, compared to a **$75.2 million** use in the prior year period[18](index=18&type=chunk) - Financing activities in Q1 2023 included a **$60.3 million** distribution to the Former Parent, which did not recur in Q1 2024[18](index=18&type=chunk) Notes to Condensed Consolidated Financial Statements [Note 1: Organization and Description of Business](index=10&type=section&id=1.%20Organization%20and%20Description%20of%20Business) SharkNinja, Inc. is a global product design and technology company, separated from JS Global in July 2023, listing on the NYSE under its 'Shark' and 'Ninja' brands - The company designs and sells products in categories including Cleaning Appliances, Cooking and Beverage Appliances, and Food Preparation Appliances under the **'Shark'** and **'Ninja'** brands[21](index=21&type=chunk) - The company separated from its Former Parent, JS Global, and began trading on the NYSE on **July 31, 2023**[24](index=24&type=chunk) [Note 2: Summary of Significant Accounting Policies](index=10&type=section&id=2.%20Summary%20of%20Significant%20Accounting%20Policies) This note details the company's U.S. GAAP financial statement preparation, key accounting policies, and significant risks such as customer concentration and warranty accruals [Basis of Presentation](index=10&type=section&id=2.1%20Basis%20of%20Presentation) The unaudited condensed consolidated financial statements are prepared under U.S. GAAP, with no significant changes to accounting policies in Q1 2024 - The financial statements are prepared in accordance with **U.S. GAAP** and include the accounts of SharkNinja, Inc. and its wholly owned subsidiaries[27](index=27&type=chunk) - No significant changes were made to the significant accounting policies during the three months ended March 31, 2024[31](index=31&type=chunk) [Concentration of Credit Risks](index=11&type=section&id=2.2%20Concentration%20of%20Credit%20Risks) The company faces significant customer concentration, with three key customers accounting for substantial portions of both net sales and accounts receivable in Q1 2024 Customer Concentration of Net Sales | Customer | Q1 2024 (%) | Q1 2023 (%) | | :--- | :--- | :--- | | Customer A | 18.0 | 15.2 | | Customer B | 11.7 | 11.6 | | Customer C | 14.6 | 15.3 | Customer Concentration of Accounts Receivable, Net | Customer | March 31, 2024 (%) | Dec 31, 2023 (%) | | :--- | :--- | :--- | | Customer A | 16.3 | 22.4 | | Customer B | 18.1 | 16.7 | | Customer C | 10.7 | * | [Disaggregation of Net Sales](index=13&type=section&id=2.3%20Disaggregation%20of%20Net%20Sales) In Q1 2024, Domestic sales comprised 68.9% of net sales, with Shark and Ninja brands nearly evenly split, and Cleaning Appliances as the largest product category Net Sales by Region (Q1 2024) | Region | Net Sales ($ in thousands) | % of Total | | :--- | :--- | :--- | | Domestic | 734,219 | 68.9% | | International | 332,009 | 31.1% | Net Sales by Brand (Q1 2024) | Brand | Net Sales ($ in thousands) | % of Total | | :--- | :--- | :--- | | Shark | 531,549 | 49.9% | | Ninja | 534,679 | 50.1% | Net Sales by Product Category (Q1 2024) | Category | Net Sales ($ in thousands) | % of Total | | :--- | :--- | :--- | | Cleaning Appliances | 421,920 | 39.6% | | Cooking and Beverage Appliances | 329,642 | 30.9% | | Food Preparation Appliances | 205,036 | 19.2% | | Other | 109,630 | 10.3% | [Warranty Costs](index=13&type=section&id=2.4%20Warranty%20Costs) The company accrues estimated warranty costs upon sales recognition, with the ending warranty liability balance at $25.4 million as of March 31, 2024 Product Warranty Liability Rollforward | Activity | Q1 2024 ($ in thousands) | Q1 2023 ($ in thousands) | | :--- | :--- | :--- | | Beginning balance | 28,090 | 20,958 | | Accruals for warranties issued | 7,266 | 6,071 | | Settlements made | (9,086) | (6,954) | | **Ending balance** | **25,428** | **20,075** | [Note 3: Condensed Consolidated Balance Sheet Components](index=16&type=section&id=3.%20Condensed%20Consolidated%20Balance%20Sheet%20Components) This note details key balance sheet components, highlighting 'Molds and tooling' as the largest property and equipment item and 'Accrued customer incentives' as the largest accrued expense Property and Equipment, Net (As of March 31, 2024) | Category | Gross Amount ($ in thousands) | | :--- | :--- | | Molds and tooling | 297,498 | | Computer and software | 101,374 | | Displays | 92,625 | | **Total property and equipment, net** | **168,418** | Accrued Expenses and Other Current Liabilities (As of March 31, 2024) | Category | Amount ($ in thousands) | | :--- | :--- | | Accrued customer incentives | 147,831 | | Accrued expenses | 74,132 | | Accrued compensation and benefits | 38,474 | | **Total accrued expenses and other current liabilities** | **412,141** | [Note 4: Fair Value Measurements](index=17&type=section&id=4.%20Fair%20Value%20Measurements) The company's fair value measurements as of March 31, 2024, include $1.9 million in Level 1 money market funds and $0.4 million in Level 2 derivative forward contracts - Financial assets measured at fair value consist of **$1.9 million** in money market funds (Level 1)[54](index=54&type=chunk) - Financial liabilities measured at fair value consist of **$370,000** in forward contracts (Level 2), down from **$3.37 million** at year-end 2023[54](index=54&type=chunk)[55](index=55&type=chunk) [Note 5: Derivative Financial Instruments and Hedging](index=18&type=section&id=5.%20Derivative%20Financial%20Instruments%20and%20Hedging) SharkNinja utilizes USD-denominated forward contracts for currency hedging, with a notional amount of $279 million as of March 31, 2024, and recorded net gains of $3.0 million in Q1 2024 Notional Amount of Forward Contracts | Date | Notional Amount ($ in thousands) | | :--- | :--- | | March 31, 2024 | 279,000 | | December 31, 2023 | 350,000 | - For Q1 2024, there was a net gain of **$3.0 million** recorded in other comprehensive income related to hedging instruments, and a net loss of **$1.2 million** was reclassified from OCI to earnings[59](index=59&type=chunk) [Note 6: Intangible Assets, Net and Goodwill](index=19&type=section&id=6.%20Intangible%20Assets,%20Net%20and%20Goodwill) As of March 31, 2024, net intangible assets totaled $474.5 million, including $385.0 million in non-amortized trade names, alongside $834.0 million in goodwill Intangible Assets, Net (As of March 31, 2024) | Asset Type | Net Carrying Value ($ in thousands) | Amortization Status | | :--- | :--- | :--- | | Customer relationships | 39,745 | Amortizable | | Patents | 33,791 | Amortizable | | Developed technology | 15,964 | Amortizable | | Trade name and trademarks | 384,995 | Indefinite (Not Amortized) | | **Total Intangible Assets, Net** | **474,495** | | - Goodwill remained stable at **$834.0 million** as of March 31, 2024[62](index=62&type=chunk) - Total amortization expense for intangible assets was **$5.9 million** in Q1 2024[61](index=61&type=chunk) [Note 7: Operating Leases](index=21&type=section&id=7.%20Operating%20Leases) Total lease cost increased to $10.2 million in Q1 2024, with $79.0 million in new operating lease right-of-use assets obtained, bringing total future minimum lease payments to $189.9 million - The company obtained **$79.0 million** in new operating lease right-of-use assets during Q1 2024, a substantial increase from **$1.6 million** in Q1 2023[65](index=65&type=chunk) Lease Metrics | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Total Lease Cost ($ in thousands) | 10,170 | 7,783 | | Weighted-average remaining lease term (years) | 7.2 | 6.2 | | Weighted-average discount rate | 6.2% | 4.4% | [Note 8: Debt](index=23&type=section&id=8.%20Debt) The company's debt includes an $810.0 million term loan and a $500.0 million revolving credit facility, with $799.9 million outstanding on the term loan and $490.2 million available on the undrawn revolving facility as of March 31, 2024 - The company has a 2023 Credit Agreement providing for an **$810.0 million** term loan and a **$500.0 million** revolving credit facility, maturing in **July 2028**[66](index=66&type=chunk) Long-Term Debt Summary (As of March 31, 2024) | Component | Amount ($ in thousands) | | :--- | :--- | | 2023 Term Loans (Principal) | 799,875 | | Less: deferred financing costs | (5,009) | | Less: current portion | (29,219) | | **Long-term debt, net of current portion** | **765,647** | - As of March 31, 2024, no amounts were outstanding on the revolving facility, and **$490.2 million** was available for borrowing[67](index=67&type=chunk) [Note 9: Commitments and Contingencies](index=26&type=section&id=9.%20Commitments%20and%20Contingencies) As of March 31, 2024, the company reports no material long-term non-cancelable purchase obligations or legal proceedings expected to have a material adverse effect - Outstanding non-cancelable purchase obligations with a term of 12 months or longer were **immaterial** as of March 31, 2024[71](index=71&type=chunk) - The company is not presently a party to any litigation expected to have a **material adverse effect** on its business[73](index=73&type=chunk) [Note 10: Shareholders' Equity and Equity Incentive Plan](index=26&type=section&id=10.%20Shareholders'%20Equity%20and%20Equity%20Incentive%20Plan) The company's equity incentive plan resulted in $19.4 million in share-based compensation expense for Q1 2024, with $54.3 million in unrecognized RSU costs remaining RSU Activity (Q1 2024) | Activity | Number of Shares | | :--- | :--- | | Unvested as of Dec 31, 2023 | 3,857,986 | | Granted | 45,000 | | Vested | (1,372,022) | | Cancelled/Forfeited | (29,822) | | **Unvested as of Mar 31, 2024** | **2,501,142** | Share-Based Compensation Expense (Q1 2024 vs Q1 2023) | Expense Category | Q1 2024 ($ in thousands) | Q1 2023 ($ in thousands) | | :--- | :--- | :--- | | Research and development | 3,499 | 230 | | Sales and marketing | 2,572 | 101 | | General and administrative | 13,355 | 517 | | **Total** | **19,426** | **848** | - As of March 31, 2024, unrecognized share-based compensation cost related to RSUs was **$54.3 million**, to be recognized over a weighted average of **1.7 years**[79](index=79&type=chunk) [Note 11: Income Taxes](index=29&type=section&id=11.%20Income%20Taxes) The company's effective tax rate increased to 23.6% in Q1 2024, resulting in a $33.9 million provision for income taxes, primarily due to limitations on executive compensation deductibility Income Tax Provision and Effective Tax Rate | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Provision for income taxes ($ in millions) | 33.9 | 24.3 | | Effective Tax Rate (ETR) | 23.6% | 21.8% | - The increase in the ETR was primarily driven by **limitations on deductible executive compensation**[82](index=82&type=chunk) [Note 12: Net Income Per Share](index=29&type=section&id=12.%20Net%20Income%20Per%20Share) For Q1 2024, basic net income per share was $0.79 and diluted net income per share was $0.78, reflecting the dilutive effect of RSUs not present in Q1 2023 Net Income Per Share Calculation | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Net Income ($ in thousands) | 109,612 | 87,096 | | Weighted-average shares, basic | 139,448,556 | 138,982,872 | | Dilutive effect of RSUs | 1,254,469 | — | | Weighted-average shares, diluted | 140,703,025 | 138,982,872 | | **Net income per share, basic** | **$0.79** | **$0.63** | | **Net income per share, diluted** | **$0.78** | **$0.63** | [Note 13: Related Party Transactions](index=29&type=section&id=13.%20Related%20Party%20Transactions) SharkNinja continues related party transactions with its former parent, JS Global, including $67.7 million in Q1 2024 purchases and $0.9 million in royalty income from brand licensing - Following the separation, the company continues to engage in transactions with its former parent, JS Global, covering **sourcing, brand licensing, and R&D**[85](index=85&type=chunk)[87](index=87&type=chunk)[88](index=88&type=chunk) Key Related Party Transactions (Q1 2024 vs Q1 2023) | Transaction | Q1 2024 ($ in thousands) | Q1 2023 ($ in thousands) | | :--- | :--- | :--- | | Cost of sales - purchases of goods and services, net | 67,696 | 291,199 | | Royalty income | 948 | — | Related Party Balances | Balance Sheet Item | March 31, 2024 ($ in thousands) | Dec 31, 2023 ($ in thousands) | | :--- | :--- | :--- | | Accounts receivable, net | 4,838 | 3,594 | | Accounts payable | 71,193 | 101,538 |

Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? SharkNinja, Inc. (SN) , which belongs to the Zacks Furniture industry, could be a great candidate to consider.When looking at the last two reports, this company has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 12.58%, on average, in the last two quarters.For the most recent quarter, SharkNinja, Inc. Was ...

Dimitrios Kambouris/Getty Images Entertainment Company Presentation Founded in 1994, SharkNinja, Inc. (NYSE:SN) is a global product design and technology company. The firm has one goal: to create 5-star innovative lifestyle products and solutions for consumers around the world. As its name suggests, SN is made of two different brands, namely: Shark & Ninja. SN portfolio is divided into 31 sub-categories. The Shark brand creates products related to hair care, floor care (vacuums, floor & carpet cleaners), ai ...

NEEDHAM, Mass.--(BUSINESS WIRE)--SharkNinja, Inc. (NYSE: SN), a global product design and technology company, today announced that certain selling shareholders affiliated with Xuning Wang (collectively, the “Selling Shareholders”) have commenced an underwritten public offering of 4,691,899 ordinary shares of SharkNinja pursuant to a registration statement on Form F-1 filed with the Securities and Exchange Commission (the “SEC”). Additionally, the Selling Shareholders intend to grant the underwriters a 30-da ...

TABLE OF CONTENTS As filed with the Securities and Exchange Commission on March 18, 2024. Registration No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 SHARKNINJA, INC. (Exact name of registrant as specified in its charter) Not Applicable (Translation of Registrant's Name into English) (State or other jurisdiction of incorporation or organization) 89 A Street Needham, MA 02494 (617) 243-0235 (Address, including ...

Financial Performance - Net sales for the year ended December 31, 2023, increased by $536.3 million, or 14.4%, to $4,253.7 million compared to $3,717.4 million in 2022[384] - Gross profit for 2023 was $1,907.9 million, representing a 35.3% increase from $1,410.2 million in 2022[390] - Net income for 2023 was $167.1 million, down from $232.4 million in 2022[380] - Adjusted Net Sales for 2023 were $4,176.2 million, compared to $3,619.9 million in 2022, reflecting a significant increase[415] - Adjusted Net Income for 2023 was $449.3 million, up 36% from $330.4 million in 2022[423] - Adjusted EBITDA for 2023 reached $719.7 million, a 38% increase compared to $519.6 million in 2022[428] - Adjusted Gross Profit for 2023 was $1,958.6 million, with an Adjusted Gross Margin of 46.9%[417] Operating Expenses - Total operating expenses rose to $1,534.3 million in 2023, a 40.9% increase from $1,088.8 million in 2022[394] - Research and development expenses increased by 15.6% to $249.4 million in 2023, accounting for 5.9% of net sales[394] - Sales and marketing expenses surged by 44.3% to $897.6 million in 2023, representing 21.1% of net sales[394] - General and administrative expenses increased by 54.2% to $387.3 million in 2023, making up 9.1% of net sales[394] - The company incurred $82.3 million in transaction-related costs in 2023, compared to $2.9 million in 2022[420] - Share-based compensation expenses increased significantly to $47.0 million in 2023 from $5.5 million in 2022[423] Interest and Taxation - Interest expense, net, increased to $(44.9) million in 2023 from $(27.0) million in 2022[380] - Provision for income taxes increased by $56.5 million, or 81.2%, for the year ended December 31, 2023, with an effective tax rate of 43.0%[408] - Interest expense, net increased by $17.9 million, or 66.2%, for the year ended December 31, 2023, primarily due to a $25.2 million increase in interest expense on term loans[402] Sales Performance by Category - The Cooking and Beverage Appliances category saw a significant sales increase of 33.7%, reaching $1,441.6 million in 2023[387] Cash Flow and Financing - Cash and cash equivalents as of December 31, 2023, totaled $154.1 million, with an additional $490.2 million available under the 2023 Revolving Facility[431] - The company has $280.6 million in net cash provided by operating activities for the year ended December 31, 2023, an increase from $205.0 million in 2022[439] - Cash used in investing activities for 2023 was $118.1 million, primarily for property and equipment purchases of $122.7 million[445] - Cash used in financing activities for 2023 totaled $234.9 million, including repayment of $442.6 million on the 2020 Term Loans[449] - As of December 31, 2023, the company had $804.9 million in debt outstanding under the 2023 Credit Agreement[437] - The company plans to utilize existing cash and cash equivalents, along with cash generated from operations, to support its core business operations and strategic plans for market expansion[432] - The company may need to seek additional equity or debt financing to fund its activities if current resources are insufficient[432] Intangible Assets - Acquired intangible assets include developed software technology, customer relationships, and trade names, recorded at fair value on acquisition date[462] - Intangible assets are amortized over their estimated useful lives, except for trade names and trademarks which have an indefinite life[462] - The company evaluates intangible assets for impairment indicators based on significant adverse changes in business climate or market conditions[462] - Future cash flow estimates are critical for measuring the recoverability of intangible assets, with potential impairments if estimates change[462] - An asset is considered impaired if its carrying amount exceeds the undiscounted future net cash flows expected to be generated[462]

Svetlana Evgrafova SharkNinja, Inc. (NYSE:SN) is a household appliance company that operates through its two brands, Shark and Ninja. The Shark brand encompasses home products (hair care products, vacuums, floor and carpet cleaners, air purifiers, and fans) and the Ninja brand encompasses the company's kitchen, food, and drink products. While these are relatively mature brands with many market-leading products, SharkNinja has a long runway for growth due to its focus on new product development and product i ...

SharkNinja, Inc. (SN) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #1 (Strong Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the sys ...

Financial Data and Key Metrics Changes - Adjusted net sales increased nearly 20% in Q4 2023, with adjusted EBITDA up more than 70% [36] - Full year adjusted net sales grew by more than 15% to nearly $4.2 billion, and adjusted EBITDA increased by nearly 39% to $720 million [38][55] - Adjusted gross margins improved nearly 700 basis points year-over-year to 46.9%, exceeding the long-term goal of 45% [38][90] Business Line Data and Key Metrics Changes - Adjusted net sales in the cooking and beverage category increased 33% to $503 million, driven by strength in outdoor grills and ovens [50] - The cleaning category saw adjusted net sales decrease just under 3% to $542 million, while the beauty and home environment category grew nearly triple to $153 million [67][68] - The food preparation category's adjusted net sales increased 14% to $181 million, driven by strong performance in ice cream makers and compact blenders [51] Market Data and Key Metrics Changes - Adjusted net sales in international markets reached $404 million, up 62%, with the UK growing nearly 38% [66] - North America net sales were up 8% to $973 million, representing 71% of the sales mix [66] - The UK market, as the largest international market, showed significant growth, while newer markets like Germany and France experienced impressive triple-digit growth [41][46] Company Strategy and Development Direction - The company is focused on a three-pillar growth strategy: entering new categories, growing share in existing categories, and international expansion [27][47] - New product launches in outdoor cooking and beauty are seen as critical growth drivers, with significant investments in R&D to support innovation [8][24] - The company aims to expand its outdoor portfolio, leveraging consumer trends towards outdoor activities [60] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the retail environment, noting good ordering patterns and clean inventories exiting Q4 [3][26] - The company anticipates a flat overall market in the first half of 2024, with potential growth in the second half [88] - Management emphasized the importance of local consumer insights and adapting strategies for different markets [82][99] Other Important Information - The company has diversified its supply chain outside of China, with nearly two-thirds of U.S. sales volume now produced outside China [74][91] - The company expects adjusted net sales to increase between 7% and 9% in 2024, with adjusted EBITDA projected to grow by 11% to 15% [76] Q&A Session Summary Question: Can you elaborate on the capabilities built with R&D investment? - Management highlighted the growth of the R&D team to over 800 engineers with diverse skill sets, contributing to product innovation [84] Question: What does the guidance entail regarding category thoughts and gross margin? - Management indicated expectations of continued gross margin expansion in the first half of 2024, with specific category growth rates provided [100][101] Question: What insights have been gained from the UK market for expansion in Germany and France? - Management noted the importance of local consumer insights and the success of cross-country retail strategies [82][99] Question: How is the company planning for new distribution entries in the U.S.? - Management discussed the strategy of leveraging existing retailer relationships and expanding into new retail channels for product launches [110] Question: What are the expectations for growth by quarter in 2024? - Management indicated a strong start to Q1 2024, with expectations of shaping growth throughout the year based on prior performance [114][116]

SharkNinja Reports Fourth Quarter and Full Year 2023 Results Provides Fiscal Year 2024 Outlook NEEDHAM, Massachusetts, February 15, 2024 – SharkNinja, Inc. ("SharkNinja" or the "Company") (NYSE: SN), a global product design and technology company, today announced its financial results for the fourth quarter and year ended December 31, 2023. Highlights for the Fourth Quarter 2023 as compared to the Fourth Quarter 2022 Highlights for the Year Ended 2023 as compared to the Year Ended 2022 Mark Barrocas, Chief ...