Clarus reports Q4 loss, completes Precision Sport sale, debt-free with $40M+ cash; guides 2024 sales $270-280M

Clarus Corp

Q4 2023 sales $76.5M (+4% YoY); gross margin 28.9% vs 37.2%; adjusted EBITDA -$3.5M vs +$3.6M; adjusted EPS -$0.07 vs +$0.11.
Precision Sport sale closed Feb 29 for $175M; proceeds repaid all $135M debt; company now debt-free with over $40M cash.
FY2023 sales $286.0M (-9.3% YoY); adjusted EBITDA $1.2M vs $17.6M; adjusted loss per share $0.04 vs income $0.24.
2024 guidance: sales $270-280M, adjusted EBITDA $16-18M, free cash flow $18-20M.
Adventure segment Q4 revenue up 43% to $26.4M; Outdoor segment down 9% to $50.1M.

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 fourth quarter ended December 31, 2023 results: revenue $76.5 million, net income Loss from continuing operations of $7.2 million, EPS $(0.19) per diluted share. Guidance initiated.

Period: the fourth quarter ended December 31, 2023
Revenue: $76.5 million
Net income: Loss from continuing operations of $7.2 million
EPS: $(0.19) per diluted share
Guidance: initiated
Result: reported results

Exact text from the filing

Fourth Quarter 2023 Financial Summary vs. Same Year - Ago Quarter (adjusted to reflect the reclassification of the Precision Sport segment as discontinued operations) · Sales of $76.5 million compared to $73.8 million. · Gross margin was 28.9% compared to 37.2%. · Loss from continuing operations of $7.2 million, or $(0.19) per diluted share, compared to loss from continuing operations of $83.3 million, or $(2.25) per diluted share.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Clarus Corp reported the full year ended December 31, 2023 results: revenue $286.0 million, net income Loss from continuing operations of $15.8 million, EPS $(0.42) per diluted share. Guidance initiated.

Period: the full year ended December 31, 2023
Revenue: $286.0 million
Net income: Loss from continuing operations of $15.8 million
EPS: $(0.42) per diluted share
Guidance: initiated
Result: reported results

Exact text from the filing

2023 Financial Summary vs. 2022 (adjusted to reflect the reclassification of the Precision Sport segment as discontinued operations) · Sales of $286.0 million compared to $315.3 million. · Gross margin was 34.1% compared to 34.9%; adjusted gross margin was 34.1% compared to 35.0%. · Loss from continuing operations of $15.8 million, or $(0.42) per diluted share, compared to loss from continuing operations of $92.8 million, or $(2.49) per diluted share.

View on SEC.gov

222 earnings releases filed in the last 30 days. Browse all earnings releases →

Clarus Corp filing history →

Source: SEC EDGAR

accession 0001104659-24-031919

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.