Financial Data and Key Metrics Changes - Total company sales for fiscal 2025 were flat compared to the prior year, with an operating loss of $16.2 million, which improved compared to fiscal 2024 [3][9] - Loss before income taxes for 2025 was $9.3 million, an improvement from a pre-tax loss of $29.9 million in fiscal 2024, primarily due to a prior year goodwill write-off and an increase in gross margin [9][10] - Gross margin for fiscal 2025 improved to 35.1%, up 1.2 points from the prior year [9][10] - Operating expenses decreased by 8%, or $20.2 million, from the prior fiscal year [10] Business Line Data and Key Metrics Changes - In the fishing segment, demand exceeded expectations for Humminbird's new Explore series and MEGA Live 2 fish finders, contributing to growth [4] - Camping and watercraft sales declined for fiscal 2025, primarily due to the closeout of Eureka inventory, but excluding this impact, the segment grew by 2% [4] - Diving sales increased due to modest improvements in certain regional markets, with the launch of the new Hydros Pro 2 buoyancy control device receiving positive reception [5][6] Market Data and Key Metrics Changes - The overall watercraft marketplace is still struggling, but Old Town's fishing kayak line is performing well [5] - Digital and e-commerce capabilities are being strengthened, with ongoing efforts to expand the digital footprint fueling growth [6][7] Company Strategy and Development Direction - The company is focused on consumer-driven innovation and enhancing digital and e-commerce capabilities as key strategic priorities [8] - Cost savings programs remain a priority, with efforts to drive optimal product costs and enhance operating efficiencies continuing into fiscal 2026 [7][8] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about market momentum continuing into early fiscal 2026, although it is still too early to confirm a market turnaround [8][13] - The company is committed to innovation as a key focus, especially in a competitive environment where consumers are price-sensitive [15] Other Important Information - The company maintained a debt-free balance sheet and a healthy cash position, confident in its ability to create long-term value for shareholders [11] Q&A Session Summary Question: Has the revenue gain momentum continued into early fiscal 2026? - Management noted excitement about the growth in the third and fourth quarters, indicating that market momentum appears to be continuing, but it is too early to declare a market turnaround [13] Question: What is the outlook for the new product pipeline for 2026? - Management highlighted ongoing momentum in fishing and diving innovations, emphasizing that product innovation remains a key priority [15] Question: How have pricing actions related to tariffs been received by retail partners? - Management stated that pricing actions taken were strategic and have been well-received by retail partners, with no negative impact on business so far [16] Question: How much have operational efficiencies contributed to gross margin improvements? - Management indicated that operational efficiencies contributed over a point of gross margin improvement, with ongoing cost savings initiatives planned for fiscal 2026 [17] Question: What is the expected effective tax rate for fiscal 2026? - Management expects the effective tax rate to return to a more normal range, mid to high 20s, going forward [18]

American Outdoor Brands, Inc. ( AOUT ), located in Columbia, Missouri and spun off as its own company in 2020, focuses on making products for people who are really into outdoor activities. TheI focus on producing objective, data-driven research, mostly about small- to mid-cap companies, as these tend to be overlooked by many investors. From time to time, though, I also look at large-cap names, just to give a fuller sense of the broader equity markets.Analyst’s Disclosure:I/we have no stock, option or simila ...

American Outdoor Brands, Inc. ( AOUT ), located in Columbia, Missouri and spun off as its own company in 2020, focuses on making products for people who are really into outdoor activities. TheI focus on producing objective, data-driven research, mostly about small- to mid-cap companies, as these tend to be overlooked by many investors. From time to time, though, I also look at large-cap names, just to give a fuller sense of the broader equity markets.Analyst’s Disclosure:I/we have no stock, option or simila ...

Nasdaq: AOUT Investor Presentation December 2025 Leveraging our culture of innovation. Delivering solutions for the moments that matter. Required Disclosures Inthispresentation, certainnon-GAAPfinancialmeasures,including"non-GAAPnetincome"and"AdjustedEBITDA"arepresented.Areconciliationoftheseandothernon-GAAPfinancialmeasuresarecontainedattheendof thispressrelease.Fromtimetotime,theCompanyconsidersandusesthesenon-GAAPfinancialmeasuresassupplemental measuresofoperatingperformanceinordertoprovidethereaderwitha ...

Summary of Solo Brands Conference Call Company Overview - **Company Name**: Solo Brands - **Ticker Symbol**: SBDS - **Key Brands**: Solo Stove and Chubbies account for 90% of revenue, with water sports brands Isle and Oru Kayak making up the remaining 10% [1][4][3] Financial Performance - **Last Twelve Months (LTM) Revenue**: Approximately $366 million [4] - **EBITDA**: Approximately $15 million [4] - **Employee Count**: Roughly 400 [4] - **Revenue Decline**: From $94 million last year to $53 million this year, with a significant portion attributed to Solo Stove [26] Challenges Faced - **Excessive Cost Structure**: Previous management over-expanded infrastructure without corresponding sales growth, leading to a mismatch between costs and revenues [7][8] - **Inventory Issues**: Retailers were left with excessive inventory due to aggressive promotions that undercut them, resulting in strained relationships [8][17] - **Debt Concerns**: The company faced a significant debt load of $250 million against a low EBITDA, leading to a "going concern" disclaimer from auditors [24][25] Strategic Changes Implemented - **Cost Reduction**: Achieved a 36% reduction in SG&A expenses year-over-year [13] - **Debt Refinancing**: Successfully refinanced debt through June 2028, providing necessary runway [24] - **Marketing Effectiveness**: Shifted focus from high marketing spend to more effective strategies, reducing marketing expenses significantly [12][20] - **Product Innovation**: Increased investment in product development while cutting back on marketing, leading to new product launches [11][32] Product Development and Innovation - **New Products**: Launched innovative products like the Summit 24 smokeless fire pit and the Infinity Flame propane fire pit, which have received positive market responses [38][41] - **Market Positioning**: Focused on maintaining premium brand status while expanding into new categories [37][41] Retail and DTC Strategy - **Retail Partnerships**: Emphasized the importance of aligning with retail partners to ensure mutual success and avoid inventory issues [18][19] - **DTC Sales**: DTC sales have declined due to reduced promotions, but the company aims to improve this channel [17][31] Future Outlook - **Holiday Season Expectations**: Anticipates that 30% of annual revenue will come from the holiday season, with a strong pipeline of products for 2026 [48] - **International Expansion**: Currently, 10% of sales are from international markets, with plans to increase this to 25-30% [52] Additional Insights - **NPS Scores**: Solo Stove has an NPS score of 73, indicating strong customer loyalty [5] - **Tariff Impact**: The company has navigated tariff challenges by diversifying its supply chain, moving production to Southeast Asia and Mexico [53][54] This summary encapsulates the key points discussed during the conference call, highlighting the company's current status, challenges, strategic initiatives, and future outlook.

Core Insights - Solo Brands, Inc. will participate in the 17th Annual Southwest IDEAS Investor Conference on November 19, 2025, showcasing its portfolio of lifestyle brands [1][2] - The company will conduct one-on-one investor meetings and a live presentation scheduled from 2:40-3:15 PM CT [2] - Key executives attending include CEO John Larson, CFO Laura Coffey, and Senior Director Mark Anderson [2] Company Overview - Solo Brands is headquartered in Grapevine, TX, and operates as an omnichannel lifestyle brand company [3] - The company offers innovative products through five lifestyle brands: Solo Stove, TerraFlame, Chubbies, ISLE, and Oru Kayak [3] - Product offerings include firepits, stoves, casual apparel, paddle boards, and origami folding kayaks [3]

Financial Data and Key Metrics Changes - Clarus generated net sales of $69.3 million, a 3% increase over the same period last year, with adjusted EBITDA increasing by 15% [4][5] - Consolidated gross margin rate was 35.1%, compared to 35% in the prior year quarter, reflecting higher sales volumes and a favorable product mix [26][27] - Adjusted EBITDA for the third quarter was $2.8 million, with an adjusted EBITDA margin of 4.0% [29] Business Line Data and Key Metrics Changes - The outdoor segment revenue was flat, but Black Diamond apparel saw a sales growth of 29% [36] - Adventure segment delivered 15.9% year-over-year growth, with organic growth of 7.4% excluding the Rocky Mounts acquisition [19] - Apparel represented 23% of the mix in Q3, up 490 basis points from a year ago, with total apparel sales ahead by 29% [15] Market Data and Key Metrics Changes - North America wholesale, the largest channel, was up 15.6% from the prior year period, while North America digital D2C was down 16.5% [12] - Europe wholesale revenue was up 2.9% in dollars but down 3% on a constant currency basis [13][14] - International distributor channel was down 28.9%, reflecting a timing shift in deliveries [14] Company Strategy and Development Direction - The company is focused on enhancing margins and setting the stage for sustainable growth despite macroeconomic challenges [8] - A renewed focus on product innovation is emphasized, with a three-year innovation roadmap to disrupt multiple product categories [25] - The company is taking proactive steps to address pricing issues in various markets, including planned price increases in the US and a pricing reset in Australia [8][20] Management's Comments on Operating Environment and Future Outlook - Management expressed caution regarding the fourth quarter due to low consumer sentiment and increased promotional activity [18] - The ongoing uncertainty related to tariffs and macroeconomic conditions makes it difficult to confidently forecast the business [31] - Despite challenges, management believes the actions taken will position the company for long-term success [35] Other Important Information - SG&A expenses were down 6% year-over-year, primarily due to lower employee-related costs and other expense reduction initiatives [29] - The company has zero third-party bank debt and is committed to prudent capital allocation [35] Q&A Session Summary Question: What was the offset to the Black Diamond strength in outdoor segment sales? - The decline in the North American D2C business, which was down 16.5%, offset the strength in wholesale [36] Question: How are retail partners ordering for spring 2026 in the outdoor segment? - The order book is up, reflecting some caution from retail partners, but there is positive momentum in the wholesale channel [38] Question: What are the expectations for the holiday season this year? - The environment is expected to be more promotional, and retailers are cautious about inventory [39]

Core Insights - Clarus Corporation reported a year-over-year revenue increase of 3.3% in Q3 2025, with total sales reaching $69.3 million compared to $67.1 million in the same quarter of the previous year [4][10] - The Adventure segment experienced a significant sales growth of 16%, while the Outdoor segment saw a slight decline of 1% [4][10] - The company is focused on sustainable growth and profitability amidst macroeconomic challenges, including tariff policies and changing consumer behavior [3] Financial Performance - Total sales for Q3 2025 were $69.3 million, up from $67.1 million in Q3 2024 [4][10] - Outdoor segment sales decreased by 1% to $48.7 million, while Adventure segment sales increased by 16% to $20.7 million [4][10] - Gross margin improved slightly to 35.1% from 35.0% year-over-year, although adjusted gross margin decreased to 35.1% from 37.8% [10][7] Cost Management - Selling, general, and administrative expenses decreased to $26.2 million from $27.9 million in the same quarter last year, primarily due to lower employee-related expenses and cost reduction initiatives [8][10] - The net loss for Q3 2025 was $1.6 million, or $(0.04) per diluted share, an improvement from a net loss of $3.2 million, or $(0.08) per diluted share, in Q3 2024 [9][10] Strategic Initiatives - The company is prioritizing its best customers and most profitable products, particularly in the Outdoor segment, and is simplifying its organizational structure in the Adventure segment [3] - Clarus aims to unlock intrinsic value in its Outdoor and Adventure segments, believing there are significant growth opportunities in the Americas and Europe [3] Cash Flow and Liquidity - Net cash used in operating activities for Q3 2025 was $5.7 million, an improvement from $8.3 million in the prior year [13] - Cash and cash equivalents totaled $29.5 million as of September 30, 2025, down from $45.4 million at the end of 2024 [18]

THIRD QUARTER 2025 HIGHLIGHTS 1 SAFE HARBOR STATEMENT Forward Looking Statements This presentation, as well as other written or oral communications made from time to time by us, may contain certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward looking statements refer to our current expectations and projections relating to our financial condition, results of operations, plans, objectives, strategies, future performance, and business. All sta ...

Core Insights - Solo Brands is focusing on structural cost reductions to align with current demand levels, achieving $11 million in operating cash flow for Q3 2025, marking the second consecutive quarter of positive cash flow [1][2][4] Financial Performance - Q3 2025 net sales were $53.0 million, a decrease of 43.7% from $94.1 million in Q3 2024, primarily due to reduced sales in the Solo Stove segment as retail partners worked through excess inventory [7] - Gross profit for Q3 2025 was $31.8 million, or 60.0% of net sales, down 19.0% year-over-year, while adjusted gross profit was $32.2 million, or 60.6% of net sales, reflecting a 44.9% decrease due to inventory write-downs [7] - Operating expenses decreased to $48.0 million, down 68.9% year-over-year, largely due to significant reductions in restructuring and marketing costs [7] - The net loss for Q3 2025 was $22.9 million, improving from a net loss of $111.5 million in Q3 2024, with an adjusted net loss of $11.9 million [7] Segment Performance - Solo Stove segment net sales were $30.8 million, a decline of 48.1%, while Chubbies segment net sales were $16.5 million, down 16.0% [11][26] - Chubbies segment EBITDA improved to $21.5 million, or 20.8% of net sales, compared to $12.2 million, or 13.8% of net sales in the prior year [11][26] Strategic Initiatives - The company is committed to stabilizing its business and strengthening its balance sheet while focusing on sustainable, profitable growth [4][2] - Recent product launches, such as the Summit 24" and Infinity Flame firepits, have received positive initial responses, improving sales trends in October [4] Balance Sheet and Cash Flow - As of September 30, 2025, cash and cash equivalents were $16.3 million, up from $12.0 million at the end of 2024, while inventory decreased to $84.8 million from $108.6 million [9][10] - Outstanding borrowings under the 2025 Term Loan were $247.1 million, with no balance under the 2025 Revolving Credit Facility [10][12]