Clarus Corp

Listed Company

CLARCIK 0000913277NasdaqAcceleratedSmaller ReportingSporting & Athletic Goods, NecDelawareSGFY ends Dec 31

Period

FY 2025

Revenue

$250.44M

Net Income

$-46.56M

Total Assets

$249.03M

Equity

$196.39M

Shares Out

38.40M

Op. Cash Flow

$-4.75M

Business

Clarus Corp is a global designer, developer, manufacturer and distributor of outdoor equipment and lifestyle products for outdoor enthusiasts. It offers performance-driven products under Black Diamond, Rhino-Rack, MAXTRAX and TRED Outdoors brands including climbing and skiing equipment, apparel, avalanche safety gear, automotive roof racks, recovery tracks, bicycle transport systems, and related accessories. The company operates through two reporting segments—Outdoor (Black Diamond, PIEPS) and Adventure (Rhino-Rack, MAXTRAX, TRED)—with Precision Sport classified as discontinued. It sells in over 50 countries through specialty and premium retailers, distributors, OEMs, direct-to-consumer websites and third-party e-commerce channels.

Summary from filing dated 2025-03-06

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total sales	250	264	286	315	266
Cost of goods sold	167	172	189	205	178
Gross profit	83	93	98	110	88
Selling, general and administrative	105	112	115	121	91
Restructuring charges	967,000	2	3	—	—
Transaction costs	752,000	576,000	593,000	3	12
Contingent consideration benefit	−355,000	−125,000	−2	493,000	−2
Legal costs and regulatory matter expenses	5	4	2	—	—
Impairment of goodwill	4	36	0	52	—
Impairment of indefinite-lived intangible assets	28	9	0	40	—
Total operating expenses	143	163	119	216	101
Operating loss	−60	−70	−21	−106	−13
Interest income, net	619,000	1	67,000	−8	−17,000
Other, net	2	−2	961,000	−1	−4
Total other income (expense), net	3	−206,000	1	−1	−4
Loss before income tax	−57	−71	−20	−108	−17
Income tax (benefit) expense	−11	18	−4	−15	−19
Loss from continuing operations	−47	−88	−16	−93	2
Discontinued operations, net of tax	—	36	6	23	24
Net loss	−47	−52	−10	−70	26
Foreign currency translation adjustment	8	−10	2	−12	−7
Unrealized (loss) gain on hedging activities	−329,000	517,000	−134,000	−248,000	1
Other comprehensive income (loss)	8	−9	2	−13	−6
Comprehensive loss	−39	−61	−8	−82	21
Basic	−1.21	−2.31	−0.42	−2.49	0.06
Diluted	−1.21	−2.31	−0.42	−2.49	0.06
Basic (per share)	−1.21	−1.37	−0.27	−1.88	0.79
Diluted (per share)	−1.21	−1.37	−0.27	−1.88	0.73
Basic (shares)	38	38	37	37	33
Diluted (shares)	38	38	37	37	36

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash	37	45	11	12	19
Accounts receivable, net	45	44	54	48	66
Inventories	83	82	91	108	129
Prepaid and other current assets	5	6	5	6	12
Income tax receivable	1	910,000	892,000	3	116,000
Total current assets	171	178	300	239	227
Property and equipment, net	18	18	17	17	43
Other intangible assets, net	24	32	41	48	74
Indefinite-lived intangible assets	20	47	59	58	128
Goodwill	—	4	39	36	91
Deferred income taxes	55,000	36,000	23	18	22
Other long-term assets	16	17	17	17	20
Total assets	249	294	495	518	632
Accounts payable	16	12	20	25	31
Accrued liabilities	24	22	25	21	27
Income tax payable	179,000	—	805,000	421,000	4
Current portion of long-term debt	—	2	120	12	10
Total current liabilities	40	36	171	65	73
Deferred income taxes	1	12	18	19	35
Other long-term liabilities	11	13	14	16	21
Total liabilities	53	61	203	226	262
Preferred stock, $0.0001 par value per share; 5,000 shares authorized; none issued	—	—	—	0	—
Common stock, $0.0001 par value per share; 100,000 shares authorized; 43,054 and 43,004 issued and 38,402 and 38,362 outstanding, respectively	4,000	4,000	4,000	4,000	4,000
Additional paid in capital	703	698	691	679	663
Accumulated deficit	−457	−407	−351	−337	−263
Treasury stock, at cost	−33	−33	−33	−33	−24
Accumulated other comprehensive loss	−17	−25	−15	−18	−5
Total stockholders' equity	196	233	292	292	370
Total liabilities and stockholders' equity	249	294	495	518	632

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation of property and equipment	4	4	8	8	6
Amortization of other intangible assets	9	10	13	15	10
Loss (gain) on sale of businesses	91,000	−41	—	—	—
Accretion of notes payable	112,000	10,000	—	—	—
Amortization of debt issuance costs	—	1	928,000	824,000	505,000
Loss on disposition of property and equipment	723,000	269,000	54,000	−81,000	−63,000
Noncash lease expense	4	3	4	3	2
Contingent consideration benefit	−355,000	−125,000	−2	451,000	−2
Stock-based compensation	6	6	5	11	9
Deferred income taxes	−12	16	−6	−10	−14
Accounts receivable	−967,000	11	6	−8	−6
Inventories	−2	4	13	−19	−34
Prepaid and other assets	92,000	640,000	2	1	−4
Accounts payable	4	−8	−5	1	3
Accrued liabilities	−1	−6	540,000	−5	3
Income taxes	−297,000	−771,000	3	−7	−7,000
Net cash (used in) provided by operating activities	−5	−7	32	15	−304,000
Proceeds from sale of businesses, net of cash	8	176	—	—	—
Purchase of businesses, net of cash acquired	—	−4	−6	—	−161
Proceeds from disposition of property and equipment	120,000	315,000	199,000	499,000	229,000
Purchase of intangible assets	—	−250,000	−250,000	—	—
Purchases of property and equipment	−5	−7	−6	−8	−17
Net cash provided by (used in) investing activities	3	165	−11	−8	−178
Proceeds from revolving credit facilities	—	31	51	96	122
Repayments on revolving credit facilities	—	−42	−60	−96	−119
Repayments on term loans and other debt	−2	−109	−11	−127	−7
Proceeds from issuance of term loans and other debt	—	46,000	—	125	109
Purchase of treasury stock	−42,000	−185,000	−222,000	−8	−651,000
Proceeds from exercise of options	—	565,000	3	3	2
Cash dividends paid	−4	−4	−4	−4	−3
Net cash used in financing activities	−6	−123	−20	−14	181
Effect of foreign exchange rates on cash and restricted cash	693,000	−586,000	−990,000	−405,000	−555,000
Change in cash and restricted cash	−7	34	−737,000	−7	2
Cash paid (received) for income taxes	936,000	2	−758,000	9	2
Cash paid for interest	16,000	2	10	7	2
Shares issued for business acquisitions	—	—	3	2	58
Debt issued for business acquisition	—	2	—	—	—
Contingent consideration for business acquisitions	—	609,000	121,000	—	5
Purchases of property and equipment incurred but not paid	118,000	167,000	145,000	541,000	269,000
Intangible assets purchased with accounts payable	—	—	250,000	—	—
Lease liabilities arising from obtaining right-of-use assets	545,000	3	4	1	7

Filings

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