{"success":true,"data":{"pressRelease":{"id":"112183","rtpr_id":"nGNX4bzS0Z","ticker":"CLAR","exchange":"NASDAQ","all_tickers":["CLAR"],"title":"Clarus Reports Second Quarter 2026 Results","author":"Globe Newswire","published_at":"2026-08-06T20:15:01.792Z","article_body":"Grew Quarterly Sales at Outdoor by 8.5%\n\nIncreased Apparel Sales in Outdoor Segment for Fifth Consecutive Quarter\n\nRepurchased 153,331 Shares of Common Stock for Approximately $0.4 Million\n\nJefferies LLC Continues to Assist the Company with Evaluating Strategic\nAlternatives\n\nSALT LAKE CITY, Aug. 06, 2026 (GLOBE NEWSWIRE) -- Clarus Corporation (NASDAQ:\nCLAR) (“Clarus” and/or the “Company”), a global company focused on the\noutdoor enthusiast markets, reported financial results for the second quarter\nended June 30, 2026.\n\nSecond Quarter 2026 Financial Summary vs. Same Year‐Ago Quarter\n* Sales of $56.2 million compared to $55.2 million.\n* The Company received a refund of approximately $6.1 million related to\npreviously paid International Emergency Economic Powers Act (“IEEPA”)\ntariffs, which was recorded as an offset to cost of goods sold.\n* Gross margin was 48.9% compared to 35.6%. Second quarter 2026 gross margin\nincludes a benefit of approximately 1,090 basis points from the recovery of\nIEEPA tariffs.\n* Net income of $4.7 million with a net income margin of 8.4%, or $0.12 per\ndiluted share, compared to net loss of $8.4 million with a net loss margin of\n(15.3)%, or $(0.22) per diluted share.\n* Adjusted net income of $6.8 million, or $0.18 per diluted share, compared to\nadjusted net loss of $(3.1) million, or $(0.08) per diluted share.\n* Adjusted EBITDA of $7.6 million with an adjusted EBITDA margin of 13.6%,\ncompared to Adjusted EBITDA loss of $(4.4) million with an adjusted EBITDA\nmargin of (8.0)%.\nManagement Commentary\n“Our second quarter results reflect disciplined execution of our\nsimplification strategy,” said Warren Kanders, Clarus’ Executive Chairman.\n“The IEEPA tariff refund we recognized during the quarter lifted earnings\nand gross margin, but our underlying performance was solid and we continue to\nsee encouraging signs of progress across both segments. At Outdoor, where\nsecond quarter revenue, margin, and EBITDA all increased year-over-year, we\nbelieve that the team’s hard work concentrating inventory on our\nhighest-volume, highest-margin products is paying off. Our big three Outdoor\ncategories of Mountain, Climb, and Apparel drove 95% of total segment\nrevenues, a testament to the deliberate actions we have taken to prioritize\nBlack Diamond’s best and most profitable styles. In the Adventure segment,\nwe continue to carefully balance targeted investments with ongoing cost and\nproductivity initiatives. Notably, Adventure’s second quarter gross margin\nimproved 420 basis points year-over-year driven by price growth and better\nsegmentation across our retailer base.”\n\nMr. Kanders added, “Despite geopolitical and macroeconomic headwinds, we\ncontinue to expect full-year revenue to fall within our previously provided\nguidance range. Outdoor has performed well in a challenging market, and we\nremain confident that Black Diamond is positioned to capitalize on the growth\nopportunities ahead. With cleaner inventory, less discounting, and a shift\ntoward a full-price premium model, we are well positioned to drive improved\nprofitability. At Adventure, we have improved the organizational shape to\ncapture more margin as the business re-scales. During the second quarter, we\ncompleted the bolt-on acquisition of ONWRD Supply Co. brand and related\nassets, enhancing our portfolio mix with complementary, high margin in-vehicle\naccessories. Overall, we remain committed to unlocking the intrinsic value of\nboth segments and to maximizing long-term value for our shareholders.”\n\nSecond Quarter 2026 Financial Results\nOn a consolidated basis, sales in the second quarter were $56.2 million\ncompared to $55.2 million in the same year‐ago quarter, up 1.6%. Sales in\nthe Outdoor segment increased 8.5% to $39.8 million, compared to $36.7 million\nin the year-ago quarter. Sales in the Adventure segment decreased 11.9% to\n$16.4 million, compared to $18.6 million in the year-ago quarter.\n\nSales in the Outdoor segment increased due to increases in global wholesale,\nindependent global distributor, and global direct-to-consumer revenues,\npartially offset by lower PIEPS revenue due to the sale of PIEPS in July 2025.\nSales in the Adventure segment decreased due to an unfavorable wholesale\nmarket in Australia and North America for Rhino-Rack and MAXTRAX, partially\noffset by favorable FX.\n\nGross margin in the second quarter was 48.9% compared to 35.6% in the\nyear‐ago quarter. The gross margin increase was primarily attributable to\nreceiving $6.1 million of IEEPA tariff refunds, higher volumes and a favorable\nproduct mix at the Outdoor segment, and a favorable product mix at the\nAdventure segment, which was partially offset by lower volume at the Adventure\nsegment.\n\nSelling, general and administrative expenses in the second quarter were $24.3\nmillion compared to $26.9 million in the same year‐ago quarter. Second\nquarter 2026 expenses reflect lower marketing costs, depreciation,\namortization and other expense reduction initiatives across both segments to\nmanage costs and the removal of PIEPS due to its sale during 2025.\n\nNet income in the second quarter of 2026 was $4.7 million with a net income\nmargin of 8.4%, or $0.12 per diluted share, compared to net loss of $(8.4)\nmillion with a net loss margin of (15.3)%, or $(0.22) per diluted share, in\nthe year-ago quarter.\n\nAdjusted net income in the second quarter of 2026 was $6.8 million, or $0.18\nper diluted share, compared to adjusted net loss of $(3.1) million, or $(0.08)\nper diluted share, in the year-ago quarter. Adjusted net income (loss)\nexcludes amortization of intangibles, impairment of indefinite-lived\nintangible assets, restructuring charges, transaction costs, contingent\nconsideration benefit, and stock-based compensation.\n\nAdjusted EBITDA in the second quarter was $7.6 million, or an adjusted EBITDA\nmargin of 13.6%, compared to adjusted EBITDA of $(4.4) million, or an adjusted\nEBITDA margin of (8.0)%, in the same year‐ago quarter.\n\nNet cash provided by operating activities for the three months ended June 30,\n2026, was $1.7 million compared to net cash used in operating activities of\n$(9.4) million in the prior year quarter. Capital expenditures in the second\nquarter of 2026 were $1.1 million compared to $1.9 million in the prior year\nquarter. Free cash flow for the second quarter of 2026 was $0.6 million\ncompared to an outflow of $11.3 million in the prior year quarter.\n\nLiquidity at June 30, 2026 vs. December 31, 2025\n* Cash and cash equivalents totaled $28.9 million compared to $36.7 million.\n* The balance sheet was debt free at the end of both periods.\nStock Repurchase Program \nDuring the second quarter, the Company repurchased 153,331 shares of its\ncommon stock for approximately $0.4 million, or $2.92 per share, leaving\napproximately $42.4 million remaining under its $50 million stock repurchase\nprogram.\n\nAcquisition of ONWRD\nIn June 2026, Rhino-Rack USA completed the acquisition of certain assets and\nliabilities constituting ONWRD Supply Co. (“ONWRD”), an outdoor inspired\naccessories brand that makes modular storage and organization systems for\ncars, trucks, vans, and SUVs. ONWRD’s products feature customizable panels,\nheadrest attachments, and pouches designed to keep gear secure during off-road\nor daily travel. The ONWRD business has been integrated into Rhino-Rack\nUSA’s existing operations in Colorado.\n\nStrategic Review \nThe Company previously announced that its Board of Directors initiated a\ncomprehensive review of strategic alternatives to enhance shareholder value.\nThe review includes a range of potential strategic alternatives, including,\namong other things, the sale of all or part of the business or other strategic\nor financial transactions involving the Company. The review has no deadline or\ndefinitive timetable and there can be no assurance that the review will result\nin any transaction or other strategic outcome. The Company does not intend to\ndisclose further developments regarding the review unless and until it\ndetermines that further disclosure is appropriate or required. Clarus has\nretained Jefferies LLC as its financial advisor.\n\n2026 Outlook\nThe Company continues to expect fiscal year 2026 sales to range between $245\nmillion and $255 million and now expects adjusted EBITDA to range between\napproximately $12 million and $13 million, or an adjusted EBITDA margin of\n5.0% at the mid-point of the revenue and adjusted EBITDA ranges. Capital\nexpenditures are expected to remain between $6 million and $7 million,\nconsistent with the Company’s prior outlook, and free cash flow is now\nexpected to be $6 million for the full year 2026. For the third quarter of\n2026, sales are expected to range between $66 million and $68 million, and\nadjusted EBITDA is expected to be approximately $3 million.\n\nClarus has not provided net income or net cash provided by operating\nactivities guidance due to the inherent difficulty of forecasting certain\nexpenses, gains, changes in working capital and other items affecting those\nmeasures. Accordingly, the Company does not provide reconciliations of\nadjusted EBITDA, adjusted EBITDA margin or free cash flow guidance to their\nmost directly comparable GAAP measures for fiscal year 2026.\n\nConference Call\nThe Company will hold a conference call today at 5:00 p.m. Eastern time to\ndiscuss its second quarter 2026 results.\n\nDate: Thursday, August 6, 2026\nTime: 5:00 pm ET\nRegistration Link:\nhttps://register-conf.media-server.com/register/BI19da625963174778be074ad27b47b34c\n\nTo access the call by phone, please register via the live call registration\nlink above and you will be provided with dial-in instructions and details. The\nconference call will be broadcast live and available for replay here and on\nthe Company’s website at www.claruscorp.com.\n\nAbout Clarus Corporation\nHeadquartered in Salt Lake City, Utah, Clarus Corporation is a global leader\nin the design and development of best-in-class equipment and lifestyle\nproducts for outdoor enthusiasts. Driven by our rich history of engineering\nand innovation, our objective is to provide safe, simple, effective and\nbeautiful products so that our customers can maximize their outdoor pursuits\nand adventures. Each of our brands has a long history of continuous product\ninnovation for core and everyday users alike. The Company’s products are\nprincipally sold globally under the Black Diamond®, Rhino-Rack®, MAXTRAX®,\nRockyMounts®, and Onwrd® brand names through outdoor specialty and online\nretailers, our own websites, distributors, and original equipment\nmanufacturers.\n\nUse of Non‐GAAP Measures\nThe Company reports its financial results in accordance with U.S. generally\naccepted accounting principles (“GAAP”). This press release contains the\nnon-GAAP measures: (i) adjusted gross margin and adjusted gross profit, (ii)\nadjusted net income (loss) and related earnings (loss) per diluted share,\n(iii) earnings before interest, taxes, other income or expense, depreciation\nand amortization (“EBITDA”), EBITDA margin, adjusted EBITDA, and adjusted\nEBITDA margin, and (iv) free cash flow (defined as net cash provided by\noperating activities less capital expenditures). The Company believes that the\npresentation of certain non-GAAP measures, i.e.: (i) adjusted gross margin and\nadjusted gross profit, (ii) adjusted net income (loss) and related earnings\n(loss) per diluted share, (iii) EBITDA, EBITDA margin, adjusted EBITDA and\nadjusted EBITDA margin, and (iv) free cash flow, provides useful information\nfor the understanding of its ongoing operations and enables investors to focus\non period-over-period operating performance, and thereby enhances the user’s\noverall understanding of the Company’s current financial performance\nrelative to past performance and provides, along with the nearest GAAP\nmeasures, a baseline for modeling future earnings expectations. Non-GAAP\nmeasures are reconciled to comparable GAAP financial measures within this\npress release. We do not provide a reconciliation of the non-GAAP guidance\nmeasures adjusted EBITDA and/or adjusted EBITDA margin for the fiscal year\n2026 to net income for the fiscal year 2026, the most comparable GAAP\nfinancial measure, due to the inherent difficulty of forecasting certain types\nof expenses and gains, without unreasonable effort, which affect net income\nbut not adjusted EBITDA and/or adjusted EBITDA margin. The Company cautions\nthat non-GAAP measures should be considered in addition to, but not as a\nsubstitute for, the Company’s reported GAAP results. Additionally, the\nCompany notes that there can be no assurance that the above referenced\nnon-GAAP financial measures are comparable to similarly titled financial\nmeasures used by other publicly traded companies.\n\nForward-Looking Statements\nPlease note that in this press release we may use words such as “appears,”\n“anticipates,” “believes,” “plans,” “expects,” “intends,”\n“future,” and similar expressions which constitute forward-looking\nstatements within the meaning of the safe harbor provisions of the Private\nSecurities Litigation Reform Act of 1995. Forward-looking statements are made\nbased on our expectations and beliefs concerning future events impacting the\nCompany and therefore involve a number of risks and uncertainties. We caution\nthat forward-looking statements are not guarantees and that actual results\ncould differ materially from those expressed or implied in the forward-looking\nstatements. Potential risks and uncertainties that could cause the actual\nresults of operations or financial condition of the Company to differ\nmaterially from those expressed or implied by forward-looking statements in\nthis press release, include, but are not limited to, risks and uncertainties\nrelated to the Company’s review of strategic alternatives, including the\ntiming and outcome of the review, whether the review results in any\ntransaction or other strategic outcome, whether and when the Company provides\nfurther updates, and the potential impact of the review on the Company’s\nbusiness and operations, as well as those risks and uncertainties more fully\ndescribed from time to time in the Company’s public reports filed with the\nSecurities and Exchange Commission, including under the section titled “Risk\nFactors” in the Company’s Annual Report on Form 10-K, and/or Quarterly\nReports on Form 10-Q, as well as in the Company’s Current Reports on Form\n8-K. All forward-looking statements included in this press release are based\nupon information available to the Company as of the date of this press release\nand speak only as of the date hereof. We assume no obligation to update any\nforward- looking statements to reflect events or circumstances after the date\nof this press release.\n\nCompany Contact:\nMichael J. Yates\nChief Financial Officer\nmike.yates@claruscorp.com\n\nInvestor Relations:\nThe IGB Group\nLeon Berman / Matt Berkowitz\nTel 1-212-477-8438 / 1-212-227-7098\nlberman@igbir.com / mberkowitz@igbir.com\n\n\n\n \n CLARUS CORPORATION \n CONDENSED CONSOLIDATED BALANCE SHEETS \n (Unaudited) \n (In thousands, except per share amounts) \n \n June 30, 2026 December 31, 2025 \n Assets \n Current assets \n Cash $ 28,925 $ 36,691 \n Accounts receivable, less allowance for \n credit losses of $1,269 and $1,121 43,119 44,839 \n Inventories 92,008 83,028 \n Prepaid and other current assets 8,076 5,457 \n Income tax receivable 1,427 1,407 \n Total current assets 173,555 171,422 \n \n Property and equipment, net 18,867 18,255 \n Other intangible assets, net 21,565 23,761 \n Indefinite-lived intangible assets 19,600 19,600 \n Deferred income taxes 55 55 \n Other long-term assets 21,188 15,935 \n Total assets $ 254,830 $ 249,028 \n \n Liabilities and Stockholders’ Equity \n Current liabilities \n Accounts payable $ 17,861 $ 15,907 \n Accrued liabilities 20,843 24,403 \n Income tax payable 320 179 \n Total current liabilities 39,024 40,489 \n \n Deferred income taxes 1,301 1,418 \n Other long-term liabilities 16,433 10,728 \n Total liabilities 56,758 52,635 \n \n Stockholders’ Equity \n Preferred stock, $0.0001 par value per share; 5,000 shares authorized; none issued - - \n Common stock, $0.0001 par value per share; 100,000 shares authorized; 43,104 and 43,054 issued and 38,288 and 38,402 outstanding, respectively 4 4 \n Additional paid in capital 704,909 703,487 \n Accumulated deficit (457,756 ) (457,253 ) \n Treasury stock, at cost (33,635 ) (33,156 ) \n Accumulated other comprehensive loss (15,450 ) (16,689 ) \n Total stockholders’ equity 198,072 196,393 \n Total liabilities and stockholders’ equity $ 254,830 $ 249,028 \n\n\n\n \n CLARUS CORPORATION \n CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) \n (Unaudited) \n (In thousands, except per share amounts) \n \n Three Months Ended \n June 30, 2026 June 30, 2025 \n \n Sales \n Domestic sales $ 24,522 $ 24,724 \n International sales 31,634 30,523 \n Total sales 56,156 55,247 \n \n Cost of goods sold 28,684 35,567 \n Gross profit 27,472 19,680 \n \n Operating expenses \n Selling, general and administrative 24,303 26,910 \n Restructuring charges 140 161 \n Transaction costs 22 108 \n Contingent consideration benefit (254 ) - \n Legal and regulatory matter (benefit) costs (1,299 ) 1,837 \n Impairment of indefinite-lived intangible assets - 1,565 \n \n Total operating expenses 22,912 30,581 \n \n Operating income (loss) 4,560 (10,901 ) \n \n Other income \n Interest income, net 84 153 \n Other, net 92 1,483 \n \n Total other income, net 176 1,636 \n \n Income (loss) before income tax 4,736 (9,265 ) \n Income tax expense (benefit) 22 (831 ) \n Net income (loss) $ 4,714 $ (8,434 ) \n \n Net income (loss) per share: $ 0.12 $ (0.22 ) \n Basic 0.12 (0.22 ) \n Diluted \n \n Weighted average shares outstanding: \n Basic 38,369 38,402 \n Diluted 38,369 38,402 \n\n\n\n \n CLARUS CORPORATION \n CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) \n (Unaudited) \n (In thousands, except per share amounts) \n \n Six Months Ended \n June 30, 2026 June 30, 2025 \n \n Sales \n Domestic sales $ 49,402 $ 49,533 \n International sales 68,692 66,147 \n Total sales 118,094 115,680 \n \n Cost of goods sold 67,859 75,206 \n Gross profit 50,235 40,474 \n \n Operating expenses \n Selling, general and administrative 50,880 53,526 \n Restructuring charges 993 334 \n Transaction costs 44 250 \n Contingent consideration benefit (254 ) - \n Legal and regulatory matter costs 80 2,462 \n Impairment of indefinite-lived intangible assets - 1,565 \n \n Total operating expenses 51,743 58,137 \n \n Operating loss (1,508 ) (17,663 ) \n \n Other income \n Interest income, net 172 410 \n Other, net 3,000 1,942 \n \n Total other income, net 3,172 2,352 \n \n Income (loss) before income tax 1,664 (15,311 ) \n Income tax expense (benefit) 245 (1,633 ) \n Net income (loss) $ 1,419 $ (13,678 ) \n \n Net income (loss) per share: \n Basic $ 0.04 $ (0.36 ) \n Diluted 0.04 (0.36 ) \n \n Weighted average shares outstanding: \n Basic 38,389 38,384 \n Diluted 38,390 38,384 \n\n\n\n \n CLARUS CORPORATION \n RECONCILIATION FROM GROSS PROFIT TO ADJUSTED GROSS PROFIT \n AND ADJUSTED GROSS MARGIN \n \n THREE MONTHS ENDED \n \n June 30, 2026 June 30, 2025 \n \n Sales $ 56,156 Sales $ 55,247 \n \n Gross profit as reported $ 27,472 Gross profit as reported $ 19,680 \n Adjusted gross profit $ 27,472 Adjusted gross profit $ 19,680 \n \n Gross margin as reported 48.9 % Gross margin as reported 35.6 % \n \n Adjusted gross margin 48.9 % Adjusted gross margin 35.6 % \n \n SIX MONTHS ENDED \n \n June 30, 2026 June 30, 2025 \n \n Sales $ 118,094 Sales $ 115,680 \n \n Gross profit as reported $ 50,235 Gross profit as reported $ 40,474 \n Plus impact of inventory fair value adjustment - Plus impact of inventory fair value adjustment 120 \n Adjusted gross profit $ 50,235 Adjusted gross profit $ 40,594 \n \n Gross margin as reported 42.5 % Gross margin as reported 35.0 % \n \n Adjusted gross margin 42.5 % Adjusted gross margin 35.1 % \n\n\n\n \n CLARUS CORPORATION \n RECONCILIATION FROM NET INCOME (LOSS) TO ADJUSTED NET INCOME (LOSS) AND RELATED EARNINGS PER DILUTED SHARE \n (In thousands, except per share amounts) \n \n Three Months Ended June 30, 2026 \n Total Gross Operating Income tax Tax Net Diluted \n sales profit expenses expense rate income EPS ((1)) \n \n As reported $ 56,156 $ 27,472 $ 22,912 $ 22 (0.5 ) % $ 4,714 $ 0.12 \n \n Amortization of intangibles - - (1,906 ) 9 1,897 \n Restructuring charges - - (140 ) - 140 \n Transaction costs - - (22 ) - 22 \n Contingent consideration benefit - - 254 - (254 ) \n Stock-based compensation - - (268 ) - 268 \n \n As adjusted $ 56,156 $ 27,472 $ 20,830 $ 31 0.5 % $ 6,787 $ 0.18 \n \n (1) Potentially dilutive securities are excluded from the computation of diluted earnings (loss) per share if their effect is anti-dilutive to net loss. Reported net income per share and adjusted net income per share are both calculated based on 38,369 diluted weighted average shares of common stock. \n \n Three Months Ended June 30, 2025 \n Total Gross Operating Income tax Tax Net Diluted \n sales profit expenses benefit rate loss EPS ((1)) \n \n As reported $ 55,247 $ 19,680 $ 30,581 $ (831 ) (9.0 ) % $ (8,434 ) $ (0.22 ) \n \n Amortization of intangibles - - (2,213 ) 217 1,996 \n Impairment of indefinite-lived intangible assets - - (1,565 ) - 1,565 \n Restructuring charges - - (161 ) 16 145 \n Transaction costs - - (108 ) 10 98 \n Stock-based compensation - - (1,554 ) 57 1,497 \n \n As adjusted $ 55,247 $ 19,680 $ 24,980 $ (531 ) 14.5 % $ (3,133 ) $ (0.08 ) \n \n (1) Potentially dilutive securities are excluded from the computation of diluted earnings (loss) per share if their effect is anti-dilutive to net loss. Reported net loss per share and adjusted net loss per share are both calculated based on 38,402 basic and diluted weighted average shares of common stock. \n\n\n\n \n CLARUS CORPORATION \n RECONCILIATION FROM NET INCOME (LOSS) TO ADJUSTED NET INCOME (LOSS) AND RELATED EARNINGS PER DILUTED SHARE \n (In thousands, except per share amounts) \n \n \n Six Months Ended June 30, 2026 \n Total Gross Operating Income tax Tax Net Diluted \n sales profit expenses expense rate income EPS ((1)) \n \n As reported $ 118,094 $ 50,235 $ 51,743 $ 245 (14.7 ) % $ 1,419 $ 0.04 \n \n Amortization of intangibles - - (3,843 ) 23 3,820 \n Restructuring charges - - (993 ) - 993 \n Transaction costs - - (44 ) - 44 \n Contingent consideration benefit - - 254 - (254 ) \n Stock-based compensation - - (1,422 ) - 1,422 \n \n As adjusted $ 118,094 $ 50,235 $ 45,695 $ 268 3.5 % $ 7,444 $ 0.19 \n \n (1) Potentially dilutive securities are excluded from the computation of diluted earnings (loss) per share if their effect is anti-dilutive to net loss. Reported net income per share and adjusted net income per share are both calculated based on 38,390 diluted weighted average shares of common stock. \n \n Six Months Ended June 30, 2025 \n Total Gross Operating Income tax Tax Net Diluted \n sales profit expenses benefit rate loss EPS ((1)) \n \n As reported $ 115,680 $ 40,474 $ 58,137 $ (1,633 ) (10.7 ) % $ (13,678 ) $ (0.36 ) \n \n Amortization of intangibles - - (4,437 ) 512 3,925 \n Impairment of indefinite-lived intangible assets - - (1,565 ) - 1,565 \n Disposal of internally developed software - - (365 ) 48 317 \n Restructuring charges - - (334 ) 39 295 \n Transaction costs - - (250 ) 29 221 \n Inventory fair value of purchase accounting - 120 - 16 104 \n Stock-based compensation - - (3,023 ) 105 2,918 \n \n As adjusted $ 115,680 $ 40,594 $ 48,163 $ (884 ) 16.9 % $ (4,333 ) $ (0.11 ) \n \n (1) Potentially dilutive securities are excluded from the computation of diluted earnings (loss) per share if their effect is anti-dilutive to net loss. Reported net loss per share and adjusted net loss per share are both calculated based on 38,384 basic and diluted weighted average shares of common stock. \n\n\n\n \n CLARUS CORPORATION \n RECONCILIATION FROM CONSOLIDATED NET INCOME (LOSS) AND NET INCOME (LOSS) MARGIN TO EARNINGS BEFORE INTEREST, TAXES, DEPRECIATION, AND AMORTIZATION (EBITDA), EBITDA MARGIN, ADJUSTED EBITDA, AND ADJUSTED EBITDA MARGIN \n (In thousands) \n \n Three Months Ended June 30, 2026 Three Months Ended June 30, 2025 \n Outdoor Segment Adventure Segment Corporate Costs Total ((1)) Outdoor Segment Adventure Segment Corporate Costs Total ((1)) \n \n Net income (loss) $ 4,714 $ (8,434 ) \n \n Income tax expense (benefit) 22 (831 ) \n Other, net (92 ) (1,483 ) \n Interest income, net (84 ) (153 ) \n \n Operating income (loss) $ 8,177 $ (1,333 ) $ (2,284 ) $ 4,560 $ (4,242 ) $ (2,203 ) $ (4,456 ) $ (10,901 ) \n \n Depreciation 616 322 62 1,000 534 343 - 877 \n Amortization of intangibles 162 1,744 - 1,906 245 1,968 - 2,213 \n \n EBITDA $ 8,955 $ 733 $ (2,222 ) $ 7,466 $ (3,463 ) $ 108 $ (4,456 ) $ (7,811 ) \n \n Restructuring charges 92 48 - 140 (42 ) 203 - 161 \n Transaction costs - - 22 22 86 - 22 108 \n Contingent consideration benefit - (254 ) - (254 ) - - - - \n Impairment of indefinite-lived intangible assets - - - - 1,565 - - 1,565 \n Stock-based compensation - - 268 268 - - 1,554 1,554 \n \n Adjusted EBITDA ((2)) $ 9,047 $ 527 $ (1,932 ) $ 7,642 $ (1,854 ) $ 311 $ (2,880 ) $ (4,423 ) \n \n Sales $ 39,776 $ 16,380 $ - $ 56,156 $ 36,661 $ 18,586 $ - $ 55,247 \n \n Net income (loss) margin 8.4 % (15.3 )% \n EBITDA margin 22.5 % 4.5 % 13.3 % (9.4 )% 0.6 % (14.1 )% \n Adjusted EBITDA margin 22.7 % 3.2 % 13.6 % (5.1 )% 1.7 % (8.0 )% \n \n (1) The Company reconciles consolidated Net income (loss) to EBITDA and Adjusted EBITDA as it has historically not allocated Income tax expense (benefit), Other, net, and Interest income, net to the segments or to Corporate. \n (2) Beginning in the first quarter of 2026, the Company will no longer add back Legal costs and regulatory matter expenses or Other inventory reserves to Adjusted EBITDA. During the three months ended June 30, 2025, the Company included an adjustment related to Legal costs and regulatory matter expenses of $1,837 ($1,150 recorded at the Outdoor segment and $687 recorded in Corporate costs) and Other inventory reserves of $490 at the Outdoor segment. The three months ended June 30, 2025 reconciliation has \n been restated to conform to the 2026 presentation. \n\n\n\n \n CLARUS CORPORATION \n RECONCILIATION FROM CONSOLIDATED NET INCOME (LOSS) AND NET INCOME (LOSS) MARGIN TO EARNINGS BEFORE INTEREST, TAXES, DEPRECIATION, AND AMORTIZATION (EBITDA), EBITDA MARGIN, ADJUSTED EBITDA, AND ADJUSTED EBITDA MARGIN \n (In thousands) \n \n Six Months Ended June 30, 2026 Six Months Ended June 30, 2025 \n Outdoor Segment Adventure Segment Corporate Costs Total ((1)) Outdoor Segment Adventure Segment Corporate Costs Total ((1)) \n \n Net income (loss) $ 1,419 $ (13,678 ) \n \n Income tax expense (benefit) 245 (1,633 ) \n Other, net (3,000 ) (1,942 ) \n Interest income, net (172 ) (410 ) \n \n Operating income (loss) $ 7,959 $ (3,170 ) $ (6,297 ) $ (1,508 ) $ (4,120 ) $ (5,257 ) $ (8,286 ) $ (17,663 ) \n \n Depreciation 1,251 611 125 1,987 1,040 720 - 1,760 \n Amortization of intangibles 384 3,459 - 3,843 528 3,909 - 4,437 \n \n EBITDA $ 9,594 $ 900 $ (6,172 ) $ 4,322 $ (2,552 ) $ (628 ) $ (8,286 ) $ (11,466 ) \n \n Restructuring charges 885 108 - 993 131 203 - 334 \n Transaction costs - - 44 44 156 40 54 250 \n Contingent consideration benefit - (254 ) - (254 ) - - - - \n Impairment of indefinite-lived intangible assets - - - - 1,565 - - 1,565 \n Disposal of internally developed software - - - - - 365 - 365 \n Stock-based compensation - - 1,422 1,422 - - 3,023 3,023 \n Inventory fair value of purchase accounting - - - - - 120 - 120 \n \n Adjusted EBITDA ((2)) $ 10,479 $ 754 $ (4,706 ) $ 6,527 $ (700 ) $ 100 $ (5,209 ) $ (5,809 ) \n \n Sales $ 84,648 $ 33,446 $ - $ 118,094 $ 80,984 $ 34,696 $ - $ 115,680 \n \n Net income (loss) margin 1.2 % (11.8 )% \n EBITDA margin 11.3 % 2.7 % 3.7 % (3.2 )% (1.8 )% (9.9 )% \n Adjusted EBITDA margin 12.4 % 2.3 % 5.5 % (0.9 )% 0.3 % (5.0 )% \n \n (1) The Company reconciles consolidated Net income (loss) to EBITDA and Adjusted EBITDA as it has historically not allocated Income tax expense (benefit), Other, net, and Interest income, net to the segments or to Corporate. \n (2) Beginning in the first quarter of 2026, the Company will no longer add back Legal costs and regulatory matter expenses or Other inventory reserves to Adjusted EBITDA. During the six months ended June 30, 2025, the Company included an adjustment related to Legal costs and regulatory matter expenses of $2,462 ($1,728 recorded at the Outdoor segment and $734 recorded in Corporate costs) and Other inventory reserves of $490 at the Outdoor segment. The six months ended June 30, 2025 reconciliation has been \n restated to conform to the 2026 presentation. \n \n\n\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/f3377356-9bbc-444c-a66e-491340799ac6)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX4bzS0Z","title":"Clarus Reports Second Quarter 2026 Results","author":"Globe Newswire","ticker":"CLAR","created":"2026-08-06T20:15:01.792Z","tickers":["CLAR"],"exchange":"NASDAQ","article_body":"Grew Quarterly Sales at Outdoor by 8.5%\n\nIncreased Apparel Sales in Outdoor Segment for Fifth Consecutive Quarter\n\nRepurchased 153,331 Shares of Common Stock for Approximately $0.4 Million\n\nJefferies LLC Continues to Assist the Company with Evaluating Strategic\nAlternatives\n\nSALT LAKE CITY, Aug. 06, 2026 (GLOBE NEWSWIRE) -- Clarus Corporation (NASDAQ:\nCLAR) (“Clarus” and/or the “Company”), a global company focused on the\noutdoor enthusiast markets, reported financial results for the second quarter\nended June 30, 2026.\n\nSecond Quarter 2026 Financial Summary vs. Same Year‐Ago Quarter\n* Sales of $56.2 million compared to $55.2 million.\n* The Company received a refund of approximately $6.1 million related to\npreviously paid International Emergency Economic Powers Act (“IEEPA”)\ntariffs, which was recorded as an offset to cost of goods sold.\n* Gross margin was 48.9% compared to 35.6%. Second quarter 2026 gross margin\nincludes a benefit of approximately 1,090 basis points from the recovery of\nIEEPA tariffs.\n* Net income of $4.7 million with a net income margin of 8.4%, or $0.12 per\ndiluted share, compared to net loss of $8.4 million with a net loss margin of\n(15.3)%, or $(0.22) per diluted share.\n* Adjusted net income of $6.8 million, or $0.18 per diluted share, compared to\nadjusted net loss of $(3.1) million, or $(0.08) per diluted share.\n* Adjusted EBITDA of $7.6 million with an adjusted EBITDA margin of 13.6%,\ncompared to Adjusted EBITDA loss of $(4.4) million with an adjusted EBITDA\nmargin of (8.0)%.\nManagement Commentary\n“Our second quarter results reflect disciplined execution of our\nsimplification strategy,” said Warren Kanders, Clarus’ Executive Chairman.\n“The IEEPA tariff refund we recognized during the quarter lifted earnings\nand gross margin, but our underlying performance was solid and we continue to\nsee encouraging signs of progress across both segments. At Outdoor, where\nsecond quarter revenue, margin, and EBITDA all increased year-over-year, we\nbelieve that the team’s hard work concentrating inventory on our\nhighest-volume, highest-margin products is paying off. Our big three Outdoor\ncategories of Mountain, Climb, and Apparel drove 95% of total segment\nrevenues, a testament to the deliberate actions we have taken to prioritize\nBlack Diamond’s best and most profitable styles. In the Adventure segment,\nwe continue to carefully balance targeted investments with ongoing cost and\nproductivity initiatives. Notably, Adventure’s second quarter gross margin\nimproved 420 basis points year-over-year driven by price growth and better\nsegmentation across our retailer base.”\n\nMr. Kanders added, “Despite geopolitical and macroeconomic headwinds, we\ncontinue to expect full-year revenue to fall within our previously provided\nguidance range. Outdoor has performed well in a challenging market, and we\nremain confident that Black Diamond is positioned to capitalize on the growth\nopportunities ahead. With cleaner inventory, less discounting, and a shift\ntoward a full-price premium model, we are well positioned to drive improved\nprofitability. At Adventure, we have improved the organizational shape to\ncapture more margin as the business re-scales. During the second quarter, we\ncompleted the bolt-on acquisition of ONWRD Supply Co. brand and related\nassets, enhancing our portfolio mix with complementary, high margin in-vehicle\naccessories. Overall, we remain committed to unlocking the intrinsic value of\nboth segments and to maximizing long-term value for our shareholders.”\n\nSecond Quarter 2026 Financial Results\nOn a consolidated basis, sales in the second quarter were $56.2 million\ncompared to $55.2 million in the same year‐ago quarter, up 1.6%. Sales in\nthe Outdoor segment increased 8.5% to $39.8 million, compared to $36.7 million\nin the year-ago quarter. Sales in the Adventure segment decreased 11.9% to\n$16.4 million, compared to $18.6 million in the year-ago quarter.\n\nSales in the Outdoor segment increased due to increases in global wholesale,\nindependent global distributor, and global direct-to-consumer revenues,\npartially offset by lower PIEPS revenue due to the sale of PIEPS in July 2025.\nSales in the Adventure segment decreased due to an unfavorable wholesale\nmarket in Australia and North America for Rhino-Rack and MAXTRAX, partially\noffset by favorable FX.\n\nGross margin in the second quarter was 48.9% compared to 35.6% in the\nyear‐ago quarter. The gross margin increase was primarily attributable to\nreceiving $6.1 million of IEEPA tariff refunds, higher volumes and a favorable\nproduct mix at the Outdoor segment, and a favorable product mix at the\nAdventure segment, which was partially offset by lower volume at the Adventure\nsegment.\n\nSelling, general and administrative expenses in the second quarter were $24.3\nmillion compared to $26.9 million in the same year‐ago quarter. Second\nquarter 2026 expenses reflect lower marketing costs, depreciation,\namortization and other expense reduction initiatives across both segments to\nmanage costs and the removal of PIEPS due to its sale during 2025.\n\nNet income in the second quarter of 2026 was $4.7 million with a net income\nmargin of 8.4%, or $0.12 per diluted share, compared to net loss of $(8.4)\nmillion with a net loss margin of (15.3)%, or $(0.22) per diluted share, in\nthe year-ago quarter.\n\nAdjusted net income in the second quarter of 2026 was $6.8 million, or $0.18\nper diluted share, compared to adjusted net loss of $(3.1) million, or $(0.08)\nper diluted share, in the year-ago quarter. Adjusted net income (loss)\nexcludes amortization of intangibles, impairment of indefinite-lived\nintangible assets, restructuring charges, transaction costs, contingent\nconsideration benefit, and stock-based compensation.\n\nAdjusted EBITDA in the second quarter was $7.6 million, or an adjusted EBITDA\nmargin of 13.6%, compared to adjusted EBITDA of $(4.4) million, or an adjusted\nEBITDA margin of (8.0)%, in the same year‐ago quarter.\n\nNet cash provided by operating activities for the three months ended June 30,\n2026, was $1.7 million compared to net cash used in operating activities of\n$(9.4) million in the prior year quarter. Capital expenditures in the second\nquarter of 2026 were $1.1 million compared to $1.9 million in the prior year\nquarter. Free cash flow for the second quarter of 2026 was $0.6 million\ncompared to an outflow of $11.3 million in the prior year quarter.\n\nLiquidity at June 30, 2026 vs. December 31, 2025\n* Cash and cash equivalents totaled $28.9 million compared to $36.7 million.\n* The balance sheet was debt free at the end of both periods.\nStock Repurchase Program \nDuring the second quarter, the Company repurchased 153,331 shares of its\ncommon stock for approximately $0.4 million, or $2.92 per share, leaving\napproximately $42.4 million remaining under its $50 million stock repurchase\nprogram.\n\nAcquisition of ONWRD\nIn June 2026, Rhino-Rack USA completed the acquisition of certain assets and\nliabilities constituting ONWRD Supply Co. (“ONWRD”), an outdoor inspired\naccessories brand that makes modular storage and organization systems for\ncars, trucks, vans, and SUVs. ONWRD’s products feature customizable panels,\nheadrest attachments, and pouches designed to keep gear secure during off-road\nor daily travel. The ONWRD business has been integrated into Rhino-Rack\nUSA’s existing operations in Colorado.\n\nStrategic Review \nThe Company previously announced that its Board of Directors initiated a\ncomprehensive review of strategic alternatives to enhance shareholder value.\nThe review includes a range of potential strategic alternatives, including,\namong other things, the sale of all or part of the business or other strategic\nor financial transactions involving the Company. The review has no deadline or\ndefinitive timetable and there can be no assurance that the review will result\nin any transaction or other strategic outcome. The Company does not intend to\ndisclose further developments regarding the review unless and until it\ndetermines that further disclosure is appropriate or required. Clarus has\nretained Jefferies LLC as its financial advisor.\n\n2026 Outlook\nThe Company continues to expect fiscal year 2026 sales to range between $245\nmillion and $255 million and now expects adjusted EBITDA to range between\napproximately $12 million and $13 million, or an adjusted EBITDA margin of\n5.0% at the mid-point of the revenue and adjusted EBITDA ranges. Capital\nexpenditures are expected to remain between $6 million and $7 million,\nconsistent with the Company’s prior outlook, and free cash flow is now\nexpected to be $6 million for the full year 2026. For the third quarter of\n2026, sales are expected to range between $66 million and $68 million, and\nadjusted EBITDA is expected to be approximately $3 million.\n\nClarus has not provided net income or net cash provided by operating\nactivities guidance due to the inherent difficulty of forecasting certain\nexpenses, gains, changes in working capital and other items affecting those\nmeasures. Accordingly, the Company does not provide reconciliations of\nadjusted EBITDA, adjusted EBITDA margin or free cash flow guidance to their\nmost directly comparable GAAP measures for fiscal year 2026.\n\nConference Call\nThe Company will hold a conference call today at 5:00 p.m. Eastern time to\ndiscuss its second quarter 2026 results.\n\nDate: Thursday, August 6, 2026\nTime: 5:00 pm ET\nRegistration Link:\nhttps://register-conf.media-server.com/register/BI19da625963174778be074ad27b47b34c\n\nTo access the call by phone, please register via the live call registration\nlink above and you will be provided with dial-in instructions and details. The\nconference call will be broadcast live and available for replay here and on\nthe Company’s website at www.claruscorp.com.\n\nAbout Clarus Corporation\nHeadquartered in Salt Lake City, Utah, Clarus Corporation is a global leader\nin the design and development of best-in-class equipment and lifestyle\nproducts for outdoor enthusiasts. Driven by our rich history of engineering\nand innovation, our objective is to provide safe, simple, effective and\nbeautiful products so that our customers can maximize their outdoor pursuits\nand adventures. Each of our brands has a long history of continuous product\ninnovation for core and everyday users alike. The Company’s products are\nprincipally sold globally under the Black Diamond®, Rhino-Rack®, MAXTRAX®,\nRockyMounts®, and Onwrd® brand names through outdoor specialty and online\nretailers, our own websites, distributors, and original equipment\nmanufacturers.\n\nUse of Non‐GAAP Measures\nThe Company reports its financial results in accordance with U.S. generally\naccepted accounting principles (“GAAP”). This press release contains the\nnon-GAAP measures: (i) adjusted gross margin and adjusted gross profit, (ii)\nadjusted net income (loss) and related earnings (loss) per diluted share,\n(iii) earnings before interest, taxes, other income or expense, depreciation\nand amortization (“EBITDA”), EBITDA margin, adjusted EBITDA, and adjusted\nEBITDA margin, and (iv) free cash flow (defined as net cash provided by\noperating activities less capital expenditures). The Company believes that the\npresentation of certain non-GAAP measures, i.e.: (i) adjusted gross margin and\nadjusted gross profit, (ii) adjusted net income (loss) and related earnings\n(loss) per diluted share, (iii) EBITDA, EBITDA margin, adjusted EBITDA and\nadjusted EBITDA margin, and (iv) free cash flow, provides useful information\nfor the understanding of its ongoing operations and enables investors to focus\non period-over-period operating performance, and thereby enhances the user’s\noverall understanding of the Company’s current financial performance\nrelative to past performance and provides, along with the nearest GAAP\nmeasures, a baseline for modeling future earnings expectations. Non-GAAP\nmeasures are reconciled to comparable GAAP financial measures within this\npress release. We do not provide a reconciliation of the non-GAAP guidance\nmeasures adjusted EBITDA and/or adjusted EBITDA margin for the fiscal year\n2026 to net income for the fiscal year 2026, the most comparable GAAP\nfinancial measure, due to the inherent difficulty of forecasting certain types\nof expenses and gains, without unreasonable effort, which affect net income\nbut not adjusted EBITDA and/or adjusted EBITDA margin. The Company cautions\nthat non-GAAP measures should be considered in addition to, but not as a\nsubstitute for, the Company’s reported GAAP results. Additionally, the\nCompany notes that there can be no assurance that the above referenced\nnon-GAAP financial measures are comparable to similarly titled financial\nmeasures used by other publicly traded companies.\n\nForward-Looking Statements\nPlease note that in this press release we may use words such as “appears,”\n“anticipates,” “believes,” “plans,” “expects,” “intends,”\n“future,” and similar expressions which constitute forward-looking\nstatements within the meaning of the safe harbor provisions of the Private\nSecurities Litigation Reform Act of 1995. Forward-looking statements are made\nbased on our expectations and beliefs concerning future events impacting the\nCompany and therefore involve a number of risks and uncertainties. We caution\nthat forward-looking statements are not guarantees and that actual results\ncould differ materially from those expressed or implied in the forward-looking\nstatements. Potential risks and uncertainties that could cause the actual\nresults of operations or financial condition of the Company to differ\nmaterially from those expressed or implied by forward-looking statements in\nthis press release, include, but are not limited to, risks and uncertainties\nrelated to the Company’s review of strategic alternatives, including the\ntiming and outcome of the review, whether the review results in any\ntransaction or other strategic outcome, whether and when the Company provides\nfurther updates, and the potential impact of the review on the Company’s\nbusiness and operations, as well as those risks and uncertainties more fully\ndescribed from time to time in the Company’s public reports filed with the\nSecurities and Exchange Commission, including under the section titled “Risk\nFactors” in the Company’s Annual Report on Form 10-K, and/or Quarterly\nReports on Form 10-Q, as well as in the Company’s Current Reports on Form\n8-K. All forward-looking statements included in this press release are based\nupon information available to the Company as of the date of this press release\nand speak only as of the date hereof. We assume no obligation to update any\nforward- looking statements to reflect events or circumstances after the date\nof this press release.\n\nCompany Contact:\nMichael J. Yates\nChief Financial Officer\nmike.yates@claruscorp.com\n\nInvestor Relations:\nThe IGB Group\nLeon Berman / Matt Berkowitz\nTel 1-212-477-8438 / 1-212-227-7098\nlberman@igbir.com / mberkowitz@igbir.com\n\n\n\n \n CLARUS CORPORATION \n CONDENSED CONSOLIDATED BALANCE SHEETS \n (Unaudited) \n (In thousands, except per share amounts) \n \n June 30, 2026 December 31, 2025 \n Assets \n Current assets \n Cash $ 28,925 $ 36,691 \n Accounts receivable, less allowance for \n credit losses of $1,269 and $1,121 43,119 44,839 \n Inventories 92,008 83,028 \n Prepaid and other current assets 8,076 5,457 \n Income tax receivable 1,427 1,407 \n Total current assets 173,555 171,422 \n \n Property and equipment, net 18,867 18,255 \n Other intangible assets, net 21,565 23,761 \n Indefinite-lived intangible assets 19,600 19,600 \n Deferred income taxes 55 55 \n Other long-term assets 21,188 15,935 \n Total assets $ 254,830 $ 249,028 \n \n Liabilities and Stockholders’ Equity \n Current liabilities \n Accounts payable $ 17,861 $ 15,907 \n Accrued liabilities 20,843 24,403 \n Income tax payable 320 179 \n Total current liabilities 39,024 40,489 \n \n Deferred income taxes 1,301 1,418 \n Other long-term liabilities 16,433 10,728 \n Total liabilities 56,758 52,635 \n \n Stockholders’ Equity \n Preferred stock, $0.0001 par value per share; 5,000 shares authorized; none issued - - \n Common stock, $0.0001 par value per share; 100,000 shares authorized; 43,104 and 43,054 issued and 38,288 and 38,402 outstanding, respectively 4 4 \n Additional paid in capital 704,909 703,487 \n Accumulated deficit (457,756 ) (457,253 ) \n Treasury stock, at cost (33,635 ) (33,156 ) \n Accumulated other comprehensive loss (15,450 ) (16,689 ) \n Total stockholders’ equity 198,072 196,393 \n Total liabilities and stockholders’ equity $ 254,830 $ 249,028 \n\n\n\n \n CLARUS CORPORATION \n CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) \n (Unaudited) \n (In thousands, except per share amounts) \n \n Three Months Ended \n June 30, 2026 June 30, 2025 \n \n Sales \n Domestic sales $ 24,522 $ 24,724 \n International sales 31,634 30,523 \n Total sales 56,156 55,247 \n \n Cost of goods sold 28,684 35,567 \n Gross profit 27,472 19,680 \n \n Operating expenses \n Selling, general and administrative 24,303 26,910 \n Restructuring charges 140 161 \n Transaction costs 22 108 \n Contingent consideration benefit (254 ) - \n Legal and regulatory matter (benefit) costs (1,299 ) 1,837 \n Impairment of indefinite-lived intangible assets - 1,565 \n \n Total operating expenses 22,912 30,581 \n \n Operating income (loss) 4,560 (10,901 ) \n \n Other income \n Interest income, net 84 153 \n Other, net 92 1,483 \n \n Total other income, net 176 1,636 \n \n Income (loss) before income tax 4,736 (9,265 ) \n Income tax expense (benefit) 22 (831 ) \n Net income (loss) $ 4,714 $ (8,434 ) \n \n Net income (loss) per share: $ 0.12 $ (0.22 ) \n Basic 0.12 (0.22 ) \n Diluted \n \n Weighted average shares outstanding: \n Basic 38,369 38,402 \n Diluted 38,369 38,402 \n\n\n\n \n CLARUS CORPORATION \n CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) \n (Unaudited) \n (In thousands, except per share amounts) \n \n Six Months Ended \n June 30, 2026 June 30, 2025 \n \n Sales \n Domestic sales $ 49,402 $ 49,533 \n International sales 68,692 66,147 \n Total sales 118,094 115,680 \n \n Cost of goods sold 67,859 75,206 \n Gross profit 50,235 40,474 \n \n Operating expenses \n Selling, general and administrative 50,880 53,526 \n Restructuring charges 993 334 \n Transaction costs 44 250 \n Contingent consideration benefit (254 ) - \n Legal and regulatory matter costs 80 2,462 \n Impairment of indefinite-lived intangible assets - 1,565 \n \n Total operating expenses 51,743 58,137 \n \n Operating loss (1,508 ) (17,663 ) \n \n Other income \n Interest income, net 172 410 \n Other, net 3,000 1,942 \n \n Total other income, net 3,172 2,352 \n \n Income (loss) before income tax 1,664 (15,311 ) \n Income tax expense (benefit) 245 (1,633 ) \n Net income (loss) $ 1,419 $ (13,678 ) \n \n Net income (loss) per share: \n Basic $ 0.04 $ (0.36 ) \n Diluted 0.04 (0.36 ) \n \n Weighted average shares outstanding: \n Basic 38,389 38,384 \n Diluted 38,390 38,384 \n\n\n\n \n CLARUS CORPORATION \n RECONCILIATION FROM GROSS PROFIT TO ADJUSTED GROSS PROFIT \n AND ADJUSTED GROSS MARGIN \n \n THREE MONTHS ENDED \n \n June 30, 2026 June 30, 2025 \n \n Sales $ 56,156 Sales $ 55,247 \n \n Gross profit as reported $ 27,472 Gross profit as reported $ 19,680 \n Adjusted gross profit $ 27,472 Adjusted gross profit $ 19,680 \n \n Gross margin as reported 48.9 % Gross margin as reported 35.6 % \n \n Adjusted gross margin 48.9 % Adjusted gross margin 35.6 % \n \n SIX MONTHS ENDED \n \n June 30, 2026 June 30, 2025 \n \n Sales $ 118,094 Sales $ 115,680 \n \n Gross profit as reported $ 50,235 Gross profit as reported $ 40,474 \n Plus impact of inventory fair value adjustment - Plus impact of inventory fair value adjustment 120 \n Adjusted gross profit $ 50,235 Adjusted gross profit $ 40,594 \n \n Gross margin as reported 42.5 % Gross margin as reported 35.0 % \n \n Adjusted gross margin 42.5 % Adjusted gross margin 35.1 % \n\n\n\n \n CLARUS CORPORATION \n RECONCILIATION FROM NET INCOME (LOSS) TO ADJUSTED NET INCOME (LOSS) AND RELATED EARNINGS PER DILUTED SHARE \n (In thousands, except per share amounts) \n \n Three Months Ended June 30, 2026 \n Total Gross Operating Income tax Tax Net Diluted \n sales profit expenses expense rate income EPS ((1)) \n \n As reported $ 56,156 $ 27,472 $ 22,912 $ 22 (0.5 ) % $ 4,714 $ 0.12 \n \n Amortization of intangibles - - (1,906 ) 9 1,897 \n Restructuring charges - - (140 ) - 140 \n Transaction costs - - (22 ) - 22 \n Contingent consideration benefit - - 254 - (254 ) \n Stock-based compensation - - (268 ) - 268 \n \n As adjusted $ 56,156 $ 27,472 $ 20,830 $ 31 0.5 % $ 6,787 $ 0.18 \n \n (1) Potentially dilutive securities are excluded from the computation of diluted earnings (loss) per share if their effect is anti-dilutive to net loss. Reported net income per share and adjusted net income per share are both calculated based on 38,369 diluted weighted average shares of common stock. \n \n Three Months Ended June 30, 2025 \n Total Gross Operating Income tax Tax Net Diluted \n sales profit expenses benefit rate loss EPS ((1)) \n \n As reported $ 55,247 $ 19,680 $ 30,581 $ (831 ) (9.0 ) % $ (8,434 ) $ (0.22 ) \n \n Amortization of intangibles - - (2,213 ) 217 1,996 \n Impairment of indefinite-lived intangible assets - - (1,565 ) - 1,565 \n Restructuring charges - - (161 ) 16 145 \n Transaction costs - - (108 ) 10 98 \n Stock-based compensation - - (1,554 ) 57 1,497 \n \n As adjusted $ 55,247 $ 19,680 $ 24,980 $ (531 ) 14.5 % $ (3,133 ) $ (0.08 ) \n \n (1) Potentially dilutive securities are excluded from the computation of diluted earnings (loss) per share if their effect is anti-dilutive to net loss. Reported net loss per share and adjusted net loss per share are both calculated based on 38,402 basic and diluted weighted average shares of common stock. \n\n\n\n \n CLARUS CORPORATION \n RECONCILIATION FROM NET INCOME (LOSS) TO ADJUSTED NET INCOME (LOSS) AND RELATED EARNINGS PER DILUTED SHARE \n (In thousands, except per share amounts) \n \n \n Six Months Ended June 30, 2026 \n Total Gross Operating Income tax Tax Net Diluted \n sales profit expenses expense rate income EPS ((1)) \n \n As reported $ 118,094 $ 50,235 $ 51,743 $ 245 (14.7 ) % $ 1,419 $ 0.04 \n \n Amortization of intangibles - - (3,843 ) 23 3,820 \n Restructuring charges - - (993 ) - 993 \n Transaction costs - - (44 ) - 44 \n Contingent consideration benefit - - 254 - (254 ) \n Stock-based compensation - - (1,422 ) - 1,422 \n \n As adjusted $ 118,094 $ 50,235 $ 45,695 $ 268 3.5 % $ 7,444 $ 0.19 \n \n (1) Potentially dilutive securities are excluded from the computation of diluted earnings (loss) per share if their effect is anti-dilutive to net loss. Reported net income per share and adjusted net income per share are both calculated based on 38,390 diluted weighted average shares of common stock. \n \n Six Months Ended June 30, 2025 \n Total Gross Operating Income tax Tax Net Diluted \n sales profit expenses benefit rate loss EPS ((1)) \n \n As reported $ 115,680 $ 40,474 $ 58,137 $ (1,633 ) (10.7 ) % $ (13,678 ) $ (0.36 ) \n \n Amortization of intangibles - - (4,437 ) 512 3,925 \n Impairment of indefinite-lived intangible assets - - (1,565 ) - 1,565 \n Disposal of internally developed software - - (365 ) 48 317 \n Restructuring charges - - (334 ) 39 295 \n Transaction costs - - (250 ) 29 221 \n Inventory fair value of purchase accounting - 120 - 16 104 \n Stock-based compensation - - (3,023 ) 105 2,918 \n \n As adjusted $ 115,680 $ 40,594 $ 48,163 $ (884 ) 16.9 % $ (4,333 ) $ (0.11 ) \n \n (1) Potentially dilutive securities are excluded from the computation of diluted earnings (loss) per share if their effect is anti-dilutive to net loss. Reported net loss per share and adjusted net loss per share are both calculated based on 38,384 basic and diluted weighted average shares of common stock. \n\n\n\n \n CLARUS CORPORATION \n RECONCILIATION FROM CONSOLIDATED NET INCOME (LOSS) AND NET INCOME (LOSS) MARGIN TO EARNINGS BEFORE INTEREST, TAXES, DEPRECIATION, AND AMORTIZATION (EBITDA), EBITDA MARGIN, ADJUSTED EBITDA, AND ADJUSTED EBITDA MARGIN \n (In thousands) \n \n Three Months Ended June 30, 2026 Three Months Ended June 30, 2025 \n Outdoor Segment Adventure Segment Corporate Costs Total ((1)) Outdoor Segment Adventure Segment Corporate Costs Total ((1)) \n \n Net income (loss) $ 4,714 $ (8,434 ) \n \n Income tax expense (benefit) 22 (831 ) \n Other, net (92 ) (1,483 ) \n Interest income, net (84 ) (153 ) \n \n Operating income (loss) $ 8,177 $ (1,333 ) $ (2,284 ) $ 4,560 $ (4,242 ) $ (2,203 ) $ (4,456 ) $ (10,901 ) \n \n Depreciation 616 322 62 1,000 534 343 - 877 \n Amortization of intangibles 162 1,744 - 1,906 245 1,968 - 2,213 \n \n EBITDA $ 8,955 $ 733 $ (2,222 ) $ 7,466 $ (3,463 ) $ 108 $ (4,456 ) $ (7,811 ) \n \n Restructuring charges 92 48 - 140 (42 ) 203 - 161 \n Transaction costs - - 22 22 86 - 22 108 \n Contingent consideration benefit - (254 ) - (254 ) - - - - \n Impairment of indefinite-lived intangible assets - - - - 1,565 - - 1,565 \n Stock-based compensation - - 268 268 - - 1,554 1,554 \n \n Adjusted EBITDA ((2)) $ 9,047 $ 527 $ (1,932 ) $ 7,642 $ (1,854 ) $ 311 $ (2,880 ) $ (4,423 ) \n \n Sales $ 39,776 $ 16,380 $ - $ 56,156 $ 36,661 $ 18,586 $ - $ 55,247 \n \n Net income (loss) margin 8.4 % (15.3 )% \n EBITDA margin 22.5 % 4.5 % 13.3 % (9.4 )% 0.6 % (14.1 )% \n Adjusted EBITDA margin 22.7 % 3.2 % 13.6 % (5.1 )% 1.7 % (8.0 )% \n \n (1) The Company reconciles consolidated Net income (loss) to EBITDA and Adjusted EBITDA as it has historically not allocated Income tax expense (benefit), Other, net, and Interest income, net to the segments or to Corporate. \n (2) Beginning in the first quarter of 2026, the Company will no longer add back Legal costs and regulatory matter expenses or Other inventory reserves to Adjusted EBITDA. During the three months ended June 30, 2025, the Company included an adjustment related to Legal costs and regulatory matter expenses of $1,837 ($1,150 recorded at the Outdoor segment and $687 recorded in Corporate costs) and Other inventory reserves of $490 at the Outdoor segment. The three months ended June 30, 2025 reconciliation has \n been restated to conform to the 2026 presentation. \n\n\n\n \n CLARUS CORPORATION \n RECONCILIATION FROM CONSOLIDATED NET INCOME (LOSS) AND NET INCOME (LOSS) MARGIN TO EARNINGS BEFORE INTEREST, TAXES, DEPRECIATION, AND AMORTIZATION (EBITDA), EBITDA MARGIN, ADJUSTED EBITDA, AND ADJUSTED EBITDA MARGIN \n (In thousands) \n \n Six Months Ended June 30, 2026 Six Months Ended June 30, 2025 \n Outdoor Segment Adventure Segment Corporate Costs Total ((1)) Outdoor Segment Adventure Segment Corporate Costs Total ((1)) \n \n Net income (loss) $ 1,419 $ (13,678 ) \n \n Income tax expense (benefit) 245 (1,633 ) \n Other, net (3,000 ) (1,942 ) \n Interest income, net (172 ) (410 ) \n \n Operating income (loss) $ 7,959 $ (3,170 ) $ (6,297 ) $ (1,508 ) $ (4,120 ) $ (5,257 ) $ (8,286 ) $ (17,663 ) \n \n Depreciation 1,251 611 125 1,987 1,040 720 - 1,760 \n Amortization of intangibles 384 3,459 - 3,843 528 3,909 - 4,437 \n \n EBITDA $ 9,594 $ 900 $ (6,172 ) $ 4,322 $ (2,552 ) $ (628 ) $ (8,286 ) $ (11,466 ) \n \n Restructuring charges 885 108 - 993 131 203 - 334 \n Transaction costs - - 44 44 156 40 54 250 \n Contingent consideration benefit - (254 ) - (254 ) - - - - \n Impairment of indefinite-lived intangible assets - - - - 1,565 - - 1,565 \n Disposal of internally developed software - - - - - 365 - 365 \n Stock-based compensation - - 1,422 1,422 - - 3,023 3,023 \n Inventory fair value of purchase accounting - - - - - 120 - 120 \n \n Adjusted EBITDA ((2)) $ 10,479 $ 754 $ (4,706 ) $ 6,527 $ (700 ) $ 100 $ (5,209 ) $ (5,809 ) \n \n Sales $ 84,648 $ 33,446 $ - $ 118,094 $ 80,984 $ 34,696 $ - $ 115,680 \n \n Net income (loss) margin 1.2 % (11.8 )% \n EBITDA margin 11.3 % 2.7 % 3.7 % (3.2 )% (1.8 )% (9.9 )% \n Adjusted EBITDA margin 12.4 % 2.3 % 5.5 % (0.9 )% 0.3 % (5.0 )% \n \n (1) The Company reconciles consolidated Net income (loss) to EBITDA and Adjusted EBITDA as it has historically not allocated Income tax expense (benefit), Other, net, and Interest income, net to the segments or to Corporate. \n (2) Beginning in the first quarter of 2026, the Company will no longer add back Legal costs and regulatory matter expenses or Other inventory reserves to Adjusted EBITDA. During the six months ended June 30, 2025, the Company included an adjustment related to Legal costs and regulatory matter expenses of $2,462 ($1,728 recorded at the Outdoor segment and $734 recorded in Corporate costs) and Other inventory reserves of $490 at the Outdoor segment. The six months ended June 30, 2025 reconciliation has been \n restated to conform to the 2026 presentation. \n \n\n\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/f3377356-9bbc-444c-a66e-491340799ac6)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-08-06T20:15:02.021647853Z","server_sent_at_ms":1786047302021},"received_at":"2026-08-06T20:15:02.076Z","source_url":"https://www.globenewswire.com/news-release/2026/08/06/3340808/14702/en/clarus-reports-second-quarter-2026-results.html"},"analysis":{"id":"101182","press_release_id":"112183","analysis_json":{"industry":{"label":"Textiles, Apparel & Luxury Goods","sector":"Consumer Discretionary"},"redFlags":["Adventure segment sales decreased 11.9% year-over-year"],"eventType":"earnings","narrative":"Clarus Corporation reported Q2 2026 sales of $56.2 million, up 1.6% year-over-year, and returned to profitability with net income of $4.7 million versus a net loss of $8.4 million in the prior year.\n\nGross margin improved significantly to 48.9% from 35.6%, aided by a $6.1 million IEEPA tariff refund, while the Outdoor segment grew sales by 8.5% to $39.8 million.\n\nThe company reaffirmed its full-year sales guidance of $245-$255 million and raised its adjusted EBITDA outlook to $12-$13 million, while completing a bolt-on acquisition of ONWRD Supply Co. and repurchasing 153,331 shares.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"Return to profitability and margin expansion drive bullish sentiment despite Adventure segment headwinds."},"keyFigures":{"eps":0.12,"revenue":56200000,"guidance":"FY26 sales $245M-$255M (reaffirmed); adjusted EBITDA $12M-$13M (raised); FCF $6M; Q3 sales $66M-$68M","revenueYoy":"1.6%","customDimensions":{"adjusted_eps":0.18,"gross_margin":"48.9%","outdoor_sales":39800000,"free_cash_flow":600000,"adjusted_ebitda":7600000,"outdoor_sales_yoy":"8.5%","adjusted_net_income":6800000,"adjusted_ebitda_margin":"13.6%"}},"quotedText":"Our second quarter results reflect disciplined execution of our simplification strategy","namedEntities":{"people":[{"name":"Warren Kanders","role":"Executive Chairman"},{"name":"Michael J. Yates","role":"Chief Financial Officer"}],"products":["ONWRD Supply Co.","Black Diamond","Rhino-Rack","MAXTRAX","RockyMounts","Onwrd"],"companies":[{"name":"Jefferies LLC","relationship":"financial advisor"},{"name":"The IGB Group","relationship":"investor relations"}],"dollarAmounts":[{"amount":"$56.2 million","context":"Q2 2026 sales"},{"amount":"$6.1 million","context":"IEEPA tariff refund"},{"amount":"$4.7 million","context":"Q2 2026 net income"},{"amount":"$0.12 per diluted share","context":"Q2 2026 EPS"},{"amount":"$6.8 million","context":"Q2 2026 adjusted net income"},{"amount":"$0.18 per diluted share","context":"Q2 2026 adjusted EPS"},{"amount":"$7.6 million","context":"Q2 2026 adjusted EBITDA"},{"amount":"$0.4 million","context":"Q2 share repurchase cost"},{"amount":"$28.9 million","context":"cash and cash equivalents as of June 30, 2026"}]},"materialImpact":{"score":4,"reasoning":"Clarus returned to profitability with net income of $4.7M vs a net loss of $8.4M in the prior year, driven by a significant gross margin expansion to 48.9% (boosted by a $6.1M tariff refund) and an 8.5% sales increase in the Outdoor segment. The company also reaffirmed full-year revenue guidance and raised adjusted EBITDA guidance, signaling solid underlying execution. Additionally, the company completed a bolt-on acquisition and repurchased shares."},"tickerRelevance":{"others":[],"primary":"CLAR"},"globalImportance":30,"audienceRelevance":25,"eventTypeSecondary":["buyback","m_and_a"],"importanceComponents":{"tickerTier":"small-cap","eventGravity":"earnings_beat","sectorWeight":"consumer_discretionary","marginExpansion":true}},"event_type":"earnings","event_type_secondary":["buyback","m_and_a"],"sentiment":"bullish","material_impact_score":4,"narrative":"Clarus Corporation reported Q2 2026 sales of $56.2 million, up 1.6% year-over-year, and returned to profitability with net income of $4.7 million versus a net loss of $8.4 million in the prior year.\n\nGross margin improved significantly to 48.9% from 35.6%, aided by a $6.1 million IEEPA tariff refund, while the Outdoor segment grew sales by 8.5% to $39.8 million.\n\nThe company reaffirmed its full-year sales guidance of $245-$255 million and raised its adjusted EBITDA outlook to $12-$13 million, while completing a bolt-on acquisition of ONWRD Supply Co. and repurchasing 153,331 shares.","key_figures":{"eps":0.12,"revenue":56200000,"guidance":"FY26 sales $245M-$255M (reaffirmed); adjusted EBITDA $12M-$13M (raised); FCF $6M; Q3 sales $66M-$68M","revenueYoy":"1.6%","customDimensions":{"adjusted_eps":0.18,"gross_margin":"48.9%","outdoor_sales":39800000,"free_cash_flow":600000,"adjusted_ebitda":7600000,"outdoor_sales_yoy":"8.5%","adjusted_net_income":6800000,"adjusted_ebitda_margin":"13.6%"}},"named_entities":{"people":[{"name":"Warren Kanders","role":"Executive Chairman"},{"name":"Michael J. Yates","role":"Chief Financial Officer"}],"products":["ONWRD Supply Co.","Black Diamond","Rhino-Rack","MAXTRAX","RockyMounts","Onwrd"],"companies":[{"name":"Jefferies LLC","relationship":"financial advisor"},{"name":"The IGB Group","relationship":"investor relations"}],"dollarAmounts":[{"amount":"$56.2 million","context":"Q2 2026 sales"},{"amount":"$6.1 million","context":"IEEPA tariff refund"},{"amount":"$4.7 million","context":"Q2 2026 net income"},{"amount":"$0.12 per diluted share","context":"Q2 2026 EPS"},{"amount":"$6.8 million","context":"Q2 2026 adjusted net income"},{"amount":"$0.18 per diluted share","context":"Q2 2026 adjusted EPS"},{"amount":"$7.6 million","context":"Q2 2026 adjusted EBITDA"},{"amount":"$0.4 million","context":"Q2 share repurchase cost"},{"amount":"$28.9 million","context":"cash and cash equivalents as of June 30, 2026"}]},"model_name":"glm-4.7","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-08-07T07:13:00.624Z","global_importance":30,"audience_relevance":25,"importance_components":{"tickerTier":"small-cap","eventGravity":"earnings_beat","sectorWeight":"consumer_discretionary","marginExpansion":true}},"durationMs":null,"modelName":"glm-4.7"}}