earnings
confidence high
sentiment positive
materiality 0.85
Clarus Q3 sales record $109M (+69% YoY), raised FY21 guidance: sales $362.5M, adj EBITDA $57M
Clarus Corp
2021-Q3 EPS reported
$0.35
revenue$257,611,000
- Q3 sales record $109.0M (+69% YoY); adjusted gross margin 38.8% (+520 bps); adj EBITDA $19.2M record (+111%).
- Net income $4.5M ($0.13/diluted) vs $1.2M ($0.04); adjusted net income $0.50/diluted vs $0.30.
- Raised FY2021 outlook: sales ~$362.5M (+62% YoY), adj EBITDA ~$57M (+155% YoY), vs prior $350M/$52M.
- Closed public offering of 3.16M shares at $27.00, gross proceeds $85.4M; intends to repay ~$65M revolver.
- Pro forma net debt leverage <2.0x expected after repayment; NOL carryforwards ~$120M.