le UNITED STATES l SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended April 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD Commission file number 1-31552 Smith & Wesson Brands, Inc. (Exact Name of Registrant as Specified in Its Charter) (State or Other Jurisdiction of Incorporation or Organization) ...

Smith & Wesson Brands, Inc. (NASDAQ:SWBI) Q3 2022 Results Conference Call March 3, 2022 5:00 PM ET Company Participants Kevin Maxwell - General Counsel Mark Smith - President, CEO Deana McPherson - CFO Conference Call Participants Mark Smith - Lake Street Capital Operator Good day, everyone, and welcome to Smith & Wesson Brands, Inc. Third Quarter Fiscal 2022 Financial Results Conference Call. This call is being recorded. At this time, I would like to turn the call over to Kevin Maxwell, Smith & Wesson’s G ...

PART I [Financial Statements (Unaudited)](index=4&type=section&id=Item%201.%20Financial%20Statements%20%28Unaudited%29) This section presents the unaudited condensed consolidated financial statements for the three and nine months ended January 31, 2022 and 2021, including balance sheets, income, equity, and cash flows, with detailed notes Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | Jan 31, 2022 | April 30, 2021 | | :--- | :--- | :--- | | Cash and cash equivalents | $107,268 | $113,017 | | Inventories | $134,268 | $78,477 | | Total current assets | $300,676 | $268,253 | | Total assets | $469,305 | $446,388 | | Total current liabilities | $93,044 | $125,655 | | Total liabilities | $142,996 | $180,004 | | Total stockholders' equity | $326,309 | $266,384 | Condensed Consolidated Statements of Income Highlights (in thousands, except per share data) | Metric | Q3 FY2022 | Q3 FY2021 | YTD FY2022 | YTD FY2021 | | :--- | :--- | :--- | :--- | :--- | | Net sales | $177,738 | $257,634 | $682,826 | $736,247 | | Gross profit | $70,399 | $109,679 | $302,336 | $303,174 | | Operating income from continuing operations | $39,722 | $80,381 | $205,001 | $203,500 | | Income from continuing operations | $30,542 | $62,263 | $158,359 | $154,679 | | Diluted EPS - continuing operations | $0.65 | $1.12 | $3.28 | $2.75 | Condensed Consolidated Statements of Cash Flows Highlights (in thousands) | Cash Flow Activity | Nine Months Ended Jan 31, 2022 | Nine Months Ended Jan 31, 2021 | | :--- | :--- | :--- | | Net cash provided by operating activities | $112,275 | $196,308 | | Net cash used in investing activities | ($15,211) | ($19,713) | | Net cash used in financing activities | ($102,813) | ($241,930) | | Net decrease in cash and cash equivalents | ($5,749) | ($65,335) | [Note 3 - Discontinued Operations](index=10&type=section&id=Note%203%20-%20Discontinued%20Operations) The company completed the spin-off of its outdoor products business (AOUT) on August 24, 2020, reporting its historical data as discontinued operations - The separation of the outdoor products and accessories business (AOUT) was completed on **August 24, 2020**, with AOUT becoming an independent, publicly traded company[29](index=29&type=chunk)[31](index=31&type=chunk) - For the nine months ended January 31, 2021, income from discontinued operations, net of tax, was **$8.3 million**[32](index=32&type=chunk)[34](index=34&type=chunk) [Note 9 - Stockholders' Equity](index=15&type=section&id=Note%209%20-%20Stockholders%27%20Equity) The company returned capital to shareholders through **$90.0 million** in stock repurchases, with diluted EPS from continuing operations at **$3.28** for the nine months - During the nine months ended January 31, 2022, the company completed two stock repurchase programs, buying back a total of **4,755,572 shares** for **$90.0 million** using cash on hand[56](index=56&type=chunk) Earnings Per Share (Continuing Operations) - Nine Months Ended Jan 31 | Metric | 2022 | 2021 | | :--- | :--- | :--- | | Basic EPS | $3.32 | $2.79 | | Diluted EPS | $3.28 | $2.75 | [Note 10 - Commitments and Contingencies](index=17&type=section&id=Note%2010%20-%20Commitments%20and%20Contingencies) The company is involved in significant legal proceedings and is committed to a headquarters relocation to Tennessee, requiring substantial capital expenditures - The company is a defendant in multiple lawsuits, including actions by the Mexican Government and a putative class action regarding the M&P12 shotgun, believing the claims are without merit and intending to defend them aggressively[72](index=72&type=chunk)[73](index=73&type=chunk) - Announced a plan to move headquarters and significant operations to Maryville, Tennessee, committing to invest at least **$120.0 million** in capital expenditures by the end of 2025 and create no less than **620 new jobs**[79](index=79&type=chunk) - As part of the relocation, the company plans to vacate and sublease its Missouri distribution facility and relocate a portion of its Connecticut plastic injection molding operations[80](index=80&type=chunk)[81](index=81&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=20&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses decreased net sales, mixed gross margin performance, ongoing Tennessee relocation capital expenditures, and capital returns [Results of Operations](index=20&type=section&id=Results%20of%20Operations) Net sales decreased in Q3 and the nine-month period due to normalizing firearm demand, with mixed gross margin performance and changes in operating expenses Net Sales by Product - Q3 (in thousands) | Product Line | Q3 FY2022 | Q3 FY2021 | $ Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Handguns | $132,921 | $183,106 | ($50,185) | -27.4% | | Long Guns | $29,459 | $61,581 | ($32,122) | -52.2% | | **Total Sales** | **$177,738** | **$257,634** | **($79,896)** | **-31.0%** | - The decrease in firearm demand from the prior year's quarter is attributed to a normalization following heightened demand driven by civil unrest, COVID restrictions, and fears of firearm restrictions in the prior period[89](index=89&type=chunk) Net Sales by Product - Nine Months (in thousands) | Product Line | YTD FY2022 | YTD FY2021 | $ Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Handguns | $488,303 | $509,315 | ($21,012) | -4.1% | | Long Guns | $157,470 | $191,416 | ($33,946) | -17.7% | | **Total Revenue** | **$682,826** | **$736,247** | **($53,421)** | **-7.3%** | - Gross margin for the nine months ended Jan 31, 2022 increased by **310 basis points** to **44.3%**, primarily due to price increases, favorable fixed cost absorption, and a shift to higher-margin products[101](index=101&type=chunk) [Liquidity and Capital Resources](index=26&type=section&id=Liquidity%20and%20Capital%20Resources) Operating cash flow decreased due to increased inventory, with cash used for stock repurchases and dividends, and significant capital expenditures planned Cash Flow Summary - Nine Months Ended Jan 31 (in thousands) | Activity | 2022 | 2021 | $ Change | | :--- | :--- | :--- | :--- | | Operating activities | $112,275 | $198,437 | ($86,162) | | Investing activities | ($15,211) | ($18,570) | $3,359 | | Financing activities | ($102,813) | ($241,764) | $138,951 | - Cash from operations was negatively impacted by a **$75.1 million** incremental increase in inventory as the company replenished stock and built for potential demand increases[115](index=115&type=chunk) - The company expects to spend an aggregate of not less than **$120.0 million** on capital expenditures for the Tennessee relocation on or before December 31, 2025[117](index=117&type=chunk) - During the nine months ended January 31, 2022, the company repurchased **$90.0 million** of its common stock and distributed **$11.4 million** in dividends[118](index=118&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=29&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company reports no engagement in or outstanding forward option contracts during the period ended January 31, 2022 - During the period ended January 31, 2022, the company did not enter into or have any outstanding forward option contracts[129](index=129&type=chunk) [Controls and Procedures](index=29&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of January 31, 2022, with no material changes to internal controls - The Chief Executive Officer and Chief Financial Officer concluded that as of January 31, 2022, the company's disclosure controls and procedures were effective[130](index=130&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that materially affected, or are reasonably likely to materially affect, internal controls[131](index=131&type=chunk) PART II - OTHER INFORMATION [Legal Proceedings](index=30&type=section&id=Item%201.%20Legal%20Proceedings) This section incorporates by reference the detailed discussion of legal proceedings from Note 10 of the financial statements - Information regarding legal proceedings is incorporated by reference from Note 10—Commitments and Contingencies in the financial statements section of this report[134](index=134&type=chunk) [Risk Factors](index=30&type=section&id=Item%201.A%20Risk%20Factors) The company outlines significant risks associated with its planned relocation to Maryville, Tennessee, including budget overruns, delays, and workforce challenges - The company identifies several risks related to its planned relocation to Maryville, Tennessee, announced on September 30, 2021[135](index=135&type=chunk) - Key risks include not completing the relocation on time or within budget, failing to meet spending and hiring commitments required for incentives, and experiencing business disruption due to loss of historical knowledge and challenges in recruiting and retaining employees[137](index=137&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=31&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) This section details the company's stock repurchase activities, including the completion of two programs totaling **$90.0 million** in buybacks during the nine months Share Repurchases - Nine Months Ended Jan 31, 2022 | Total Shares Purchased | Average Price Paid Per Share | Total Cost (in thousands) | | :--- | :--- | :--- | | 4,755,572 | $18.91 | $90,000 | - The company completed a **$100.0 million** stock repurchase program (authorized March 2021) and a subsequent **$50.0 million** program (authorized June 2021) during the nine months ended January 31, 2022[138](index=138&type=chunk) [Exhibits](index=31&type=section&id=Item%206.%20Exhibits) This section states that the exhibits filed with this Quarterly Report on Form 10-Q are listed in the accompanying Index to Exhibits - The exhibits filed with this report are listed on the Index to Exhibits[139](index=139&type=chunk)[141](index=141&type=chunk)

Smith & Wesson Brands, Inc. (NASDAQ:SWBI) Q2 2022 Earnings Conference Call December 2, 2021 5:00 PM ET Company Participants Kevin Maxwell - General Counsel Mark Smith - President and Chief Executive Officer Deana McPherson - Chief Financial Officer Conference Call Participants Ryan Meyers - Lake Street Capital Cai von Rumohr - Cowen Rommel Dionisio - Aegis Capital Scott Stember - CL King Operator Good day, everyone and welcome to Smith & Wesson Brands, Inc. Second Quarter Fiscal 2022 Financial Results Confe ...

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 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended October 31, 2021 Commission File No. 001-31552 Smith & Wesson Brands, Inc. (Exact name of registrant as specified in its charter) Nevada 87-0543688 (State or other jurisdiction of incorporation or organization) 2100 Ro ...

Smith & Wesson Brands, Inc. (NASDAQ:SWBI) Q1 2022 Earnings Conference Call September 1, 2021 5:00 PM ET Company Representatives Mark Smith - President, Chief Executive Officer Deana McPherson - Chief Financial Officer Chris Scott - Acting General Counsel Conference Call Participants Mark Smith - Lake Street Capital Scott Stember - CL King Cai von Rumohr - Cowen Operator Good day, everyone and welcome to Smith & Wesson Brands, Inc., First Quarter Fiscal 2022 Financial Results Conference Call. This call is be ...

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 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 31, 2021 Commission File No. 001-31552 Smith & Wesson Brands, Inc. (Exact name of registrant as specified in its charter) Nevada 87-0543688 (State or other jurisdiction of incorporation or organization) 2100 Roose ...

Smith & Wesson Brands, Inc. (NASDAQ:SWBI) Q4 2021 Earnings Conference Call June 17, 2021 5:00 PM ET Company Participants Robert Cicero - General Counsel Mark Smith - President and Chief Executive Officer Deana McPherson - Chief Financial Officer Conference Call Participants Mark Smith - Lake Street Capital Cai von Rumohr - Cowen & Company Scott Stember - CL King James Hardiman - Wedbush Securities Rommel Dionisio - Aegis Capital Operator Good day, everyone and welcome to Smith & Wesson Brands, Inc. Fourth Q ...

@P moop UNITED STATES SECURITIES AND EXCHANGE COMMISSION Form 10-K Washington, D.C. 20549 ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended April 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD Commission file number 1-31552 Smith & Wesson Brands, Inc. (Exact Name of Registrant as Specified in Its Charter) Nevada 87-0543688 (State or Other Jurisdiction of Incorporat ...

Smith & Wesson Brands, Inc. (NASDAQ:SWBI) Q3 2021 Earnings Conference Call March 4, 2021 5:00 PM ET Company Participants Robert Cicero - General Counsel Mark Smith - Chief Executive Officer Deana McPherson - Chief Financial Officer Conference Call Participants Cai von Rumohr - Cowen & Company Mark Smith - Lake Street Capital Scott Stember - CL King Rommel Dionisio - Aegis Capital Operator Good day, everyone, and welcome to Smith & Wesson Brands Inc. Third Quarter Fiscal 2021 Financial Results Conference Cal ...