Clarus Q3 sales down 13% to $100.1M; net loss of $1.3M; FY2023 guidance lowered

Clarus Corp

2023-Q3 EPS reported -$0.05 revenue$281,187,000

Sales $100.1M (-13.5% YoY); gross margin 35.5% (+140 bps).
Net loss $1.3M ($0.03 loss/share) vs net income $2.8M ($0.07) last year.
Adjusted EBITDA $9.9M (9.9% margin) vs $15.1M (13.0%); Precision Sport sales down 45%.
FY2023 outlook lowered: sales $364–368M, adj. EBITDA $33–35M.
Acquired TRED Outdoors on Oct 9 for cash, stock, future consideration; net debt leverage 3.3x.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Clarus Corp reported the third quarter ended September 30, 2023 results: revenue $100.1 million, net income Net loss of $1.3 million, or $(0.03) per diluted share, EPS $(0.03) per diluted share.

Period: the third quarter ended September 30, 2023
Revenue: $100.1 million
Net income: Net loss of $1.3 million, or $(0.03) per diluted share
EPS: $(0.03) per diluted share
Result: reported results

Exact text from the filing

Clarus Corporation (NASDAQ: CLAR) (“Clarus” and/or the “Company”), a global company focused on the outdoor and consumer enthusiast markets, reported financial results for the third quarter ended September 30, 2023. Third Quarter 2023 Financial Summary vs. Same Year-Ago Quarter · Sales of $100.1 million compared to $115.7 million. · Gross margin improved 140 basis points to 35.5% compared to 34.1%. · Net loss of $1.3 million, or $(0.03) per diluted share, compared to net income of $2.8 million, or $0.07 per diluted share.

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Source: SEC EDGAR

accession 0001104659-23-115239

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