Financial Data and Key Metrics Changes - Total net sales for 2024 were $455 million, down 8% from the prior year [13] - Adjusted gross profit margin improved to 61.7% [13] - Adjusted EBITDA for the year was $32.6 million, representing 7.2% of net sales [19] - Fourth quarter net sales were $143.5 million, down 13.2% year-over-year [14] - Reported gross profit margin for the fourth quarter was 61.1%, up 280 basis points from the previous year [16] - GAAP net loss for 2024 was $180.2 million, an improvement from a net loss of $195.3 million in 2023 [19] Business Line Data and Key Metrics Changes - Declines in retail and direct-to-consumer channels within the Solo Stove segment were noted, partially offset by increased sales in the Chubbies segment [14] - Selling, general and administrative expenses decreased to $81.8 million from $84.3 million in the prior year [16] - Adjusted net income for the year was $11.4 million, with an adjusted EPS of $0.12 [19] Market Data and Key Metrics Changes - The company is experiencing challenges in the consumer environment, leading to a pause in financial guidance [23] - Tariff impacts are being actively addressed, with production shifts to alternative countries to mitigate risks [24] Company Strategy and Development Direction - The company is focused on an aggressive turnaround plan for 2025, with over 30 value-accretive initiatives [7][10] - Key initiatives include resetting the cost structure, focusing on profitability by channel and product, and revamping marketing strategies [31][32] - A new water sports division has been created by consolidating ISLE paddle boards and Oru Kayaks to enhance profitability [35] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the challenges ahead but believes in the solid foundation for success, including strong brands and loyal customers [11] - The company plans to improve profitability compared to the previous year, especially as major initiatives ramp up in the second half of the year [23] - Management is committed to maintaining momentum in the transformation plan despite leadership changes [9] Other Important Information - The company ended the quarter with $12 million in cash and cash equivalents, managing working capital closely [25] - There are no M&A plans for 2025, focusing instead on disciplined capital allocation [26] - The company is evaluating strategies to refinance existing debt due to uncertainty in business operations [28] Q&A Session Summary - No questions were taken after the prepared remarks, as management aimed to address most immediate inquiries during the presentation [12]

Financial Data and Key Metrics Changes - The company reported net sales of over $58 million for Q3 2025, representing a 9.5% increase year-over-year [7][30]. - Non-GAAP adjusted EBITDAS nearly doubled year-over-year, reaching $4.7 million compared to $2.4 million in the previous year [8][38]. - GAAP gross margin for Q3 was 44.7%, a 200 basis point increase from 42.7% [34]. - Non-GAAP EPS was $0.21 in Q3, up from $0.08 in the prior year [37]. Business Line Data and Key Metrics Changes - In the outdoor lifestyle category, net sales grew by 15.1%, driven mainly by the Meet Your Maker and BOG brands [32]. - The shooting sports category saw net sales increase by almost 3%, with shooting accessory sales benefiting from promotional efforts [32]. - Traditional channel net sales increased by 9.6%, while e-commerce net sales rose by 9.5% compared to Q3 last year [33]. Market Data and Key Metrics Changes - The company experienced growth across both traditional and e-commerce sales channels, indicating strong brand connection with consumers [33]. - The outdoor lifestyle segment is becoming a larger part of the overall portfolio, reflecting the size of market opportunities [52]. Company Strategy and Development Direction - The company aims to leverage its innovation advantage to broaden distribution opportunities and strengthen margins while remaining agile and asset-light [9][25]. - New products typically generate over 20% of net sales each year, with a focus on expanding existing brands and developing disruptive products [10][13]. - The company is committed to organic growth, disciplined M&A, and returning capital to shareholders through share repurchases [41]. Management's Comments on Operating Environment and Future Outlook - Management noted that consumer behavior remains cautious, but there is strong demand for innovative products [63]. - The company expects net sales for fiscal 2025 to be in the range of $207 million to $210 million, implying a growth of 3.7% for the full year [43]. - For fiscal 2026, the company anticipates net sales between $220 million and $230 million, representing a growth of 7.9% from the midpoint of fiscal 2025 [48]. Other Important Information - The company ended the quarter with cash of $17.1 million and no debt, after repurchasing approximately $1.2 million of common stock [39]. - Capital expenditures for Q3 were $1.8 million, with expectations for full-year spending between $4 million and $4.5 million [40][41]. Q&A Session Summary Question: Insights on new products and their impact on sales - Management emphasized that new products are a significant part of the growth strategy, historically representing 20% to 25% of total net sales [51]. Question: Discussion on tariffs and expected exposure - Management acknowledged the evolving tariff situation and emphasized the importance of maintaining quality while being nimble in decision-making [56][58]. Question: Update on consumer behavior changes - Management noted that consumers are cautious but are drawn to innovative products, particularly in the premium segment [63][64].

Financial Data and Key Metrics Changes - The company reported net sales of over $58 million for Q3 2025, representing a 9.5% increase year-over-year [7][30]. - Non-GAAP adjusted EBITDAS nearly doubled year-over-year, reaching $4.7 million compared to $2.4 million in the previous year [8][38]. - GAAP gross margin for Q3 was 44.7%, a 200 basis point increase from 42.7% [34]. - Non-GAAP EPS was $0.21 for Q3, up from $0.08 in the prior year [37]. Business Line Data and Key Metrics Changes - In the outdoor lifestyle category, net sales grew by 15.1%, driven mainly by the Meet Your Maker and BOG brands [32]. - The shooting sports category saw net sales increase by almost 3%, with shooting accessory sales benefiting from promotional efforts [32]. - Traditional channel net sales increased by 9.6%, while e-commerce net sales grew by 9.5% compared to Q3 last year [33]. Market Data and Key Metrics Changes - The company experienced growth across both traditional and e-commerce sales channels, indicating strong brand connection with consumers [33]. - The outdoor lifestyle segment is becoming a larger part of the overall portfolio, reflecting the size of market opportunities [52]. Company Strategy and Development Direction - The company aims to leverage its innovation advantage to broaden distribution opportunities and strengthen margins while remaining agile and asset-light [9][25]. - New products typically generate over 20% of net sales each year, with a focus on expanding existing brands and developing disruptive products [10][13]. - The company is committed to organic growth, disciplined M&A, and returning capital to shareholders through share repurchases [41]. Management's Comments on Operating Environment and Future Outlook - Management noted that consumers are cautious in their purchasing decisions but are responding positively to innovation, which has driven strong point-of-sale performance [63]. - The company expects net sales for fiscal 2025 to be in the range of $207 million to $210 million, reflecting a growth of 3.7% for the full year [43]. - For fiscal 2026, the company anticipates net sales between $220 million and $230 million, representing a growth of 7.9% from the midpoint of fiscal 2025 [48]. Other Important Information - The company ended the quarter with cash of $17.1 million and no debt, after repurchasing approximately $1.2 million of common stock [39]. - Capital expenditures for Q3 were $1.8 million, with expectations for full-year spending of $4 million to $4.5 million [40]. Q&A Session Summary Question: Insights on new products and their impact on sales - Management emphasized that new products are a significant part of the growth strategy, historically representing 20% to 25% of total net sales [51]. Question: Discussion on tariffs and expected exposure - Management acknowledged the evolving tariff situation and emphasized the importance of maintaining quality while being nimble in decision-making [56][58]. Question: Update on consumer behavior changes - Management noted that consumers remain cautious but are selective, benefiting from the company's innovation and premium product offerings [63]. Question: Guidance for 2025 and quarter-to-date trends - Management confirmed that the guidance for 2025 captures Q3 outperformance and reflects normal quarter-to-quarter timing [69]. Question: Long-term growth visibility for retail partners - Management indicated strong commitments from retail partners to bring in more innovative products, reinforcing demand for upcoming fiscal 2026 launches [76]. Question: Commentary on M&A market and internal funnel - Management expressed a disciplined approach to M&A, looking for opportunities that align with the company's asset-light model and recurring revenue potential [78][81].