Highest-materiality recent filing
Clarus Q2 net income $4.7M vs loss; Outdoor sales up 8.5%; guides FY adj EBITDA $12-13M
Sales $56.2M (+1.6% YoY); Outdoor segment +8.5% to $39.8M, Adventure -11.9% to $16.4M.
Clarus shareholders elect all five director nominees, approve say-on-pay and auditor ratification
84.66% of shares represented; all five director nominees elected with 20.4M to 22.4M for each.
Sales of $61.9M (+2.5% YoY); gross margin 36.8% (+240 bps); net loss $(0.09)/share vs $(0.14).
Clarus Q4 sales $65.4M, net loss $0.81/share; FY2026 guidance implies recovery
Q4 sales $65.4M (down 8% YoY); net loss $31.3M ($0.81 loss per diluted share) includes $29.9M goodwill impairment.
Clarus Q3 sales up 3% to $69.3M; net loss narrows, adjusted EBITDA rises 15%
Sales $69.3M (+3% YoY); Outdoor -1% to $48.7M, Adventure +16% to $20.7M.
Clarus Q2 net loss widens to $8.4M; sells PIEPS brand for $9.1M
Sales $55.2M, down 2% YoY; Outdoor +1% to $36.7M, Adventure -8% to $18.6M.
Clarus board allows Kanders to increase stake to 32.9%; two directors depart
Kanders (Executive Chairman) can acquire up to 5,940,700 additional shares, raising beneficial ownership from ~17.9% to 32.9% within 24 months.
Q1 sales $60.4M, down 13% YoY; net loss $(0.14) per diluted share; adjusted EBITDA margin (1.3)%.
Clarus Q4 net loss $65.5M; sales down 6.7% to $71.4M; provides FY2025 outlook
Q4 net loss $65.5M ($1.71/diluted share) vs loss of $8.4M ($0.22) YoY; includes $44.8M goodwill impairment and $21M tax valuation allowance.
Clarus and Black Diamond receive grand jury subpoenas from U.S. Attorney over avalanche transmitters
Clarus and subsidiary Black Diamond Equipment received grand jury subpoenas in January 2025 from the U.S. Attorney’s Office for the District of Utah.
Clarus appoints Mark M. Besca to Board and Audit Committee, expands board to seven directors
Mark M. Besca appointed to Board effective December 5, 2024, will serve until next annual meeting.
Clarus Q3 sales fall 17.5% to $67.1M; lowers FY2024 adjusted EBITDA guidance to ~$8M midpoint
Sales $67.1M, down from $81.3M YoY; net loss $3.2M ($0.08/share) vs loss $1.3M ($0.03/share).
Clarus amends Rights Agreement and adopts revised Bylaws, removing special meeting right
Amendment No. 1 to Rights Agreement on Sept 5, 2024 clarifies definitions of acquiring person and adds exemption process.
Clarus Q2 sales fall 2% to $56.5M, net loss $5.5M; cuts EBITDA guidance, reviews PIEPS
Q2 sales $56.5M (-2% YoY); net loss $5.5M ($0.14) vs $2.1M loss ($0.06) prior year.
Clarus shareholders elect six directors, ratify Deloitte as auditor at 2024 meeting
Approximately 85.06% of 38.3M outstanding shares voted; all six director nominees elected.
Clarus Q1 loss from continuing ops widens to $6.5M; Adventure sales up 27%
Sales $69.3M vs $70.3M YoY; gross margin 35.9% (adj. 36.9%).
Precision Sport segment sold for $175M, closed Feb 29, 2024; gain expected in Q1 2024.
Clarus posts $15.8M full-year continuing ops loss in 2023; sells Precision Sport for $175M
Sale of Precision Sport segment closed Feb 29, 2024 for $175M; expected gain in Q1 2024.
Clarus permits Greenhouse and Kanders to increase stakes to 15% and 26.7% under poison pill waiver
Greenhouse (current ~11.9% owner) approved to acquire up to 15.0% of CLAR common stock within 12 months.
Clarus appoints Roger Werner to Board of Directors effective March 8, 2024
Roger Werner, 74, appointed to Clarus Board, serves until next annual meeting.
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.
Clarus closes $175M sale of Precision Sport segment to JDH Capital; pays off all debt
Sale of Sierra Bullets & Barnes Bullets for $175M cash (before ~$742 working capital adjustment) closed Feb 29, 2024.
Director James E. Walker III resigns from Clarus board effective Jan 8, 2024
Resignation effective January 8, 2024; no replacement announced.
Clarus to sell Precision Sport segment for $175M cash; expects close in Q1 2024
Agreement to sell Sierra Bullets and Barnes Bullets to Bullseye Acquisitions, an affiliate of JDH Capital Co.
Clarus Q3 sales down 13% to $100.1M; net loss of $1.3M; FY2023 guidance lowered
Sales $100.1M (-13.5% YoY); gross margin 35.5% (+140 bps).
Clarus files legal opinion exhibit; no material news disclosed
Filed Exhibit 5.1: opinion of Kane Kessler, P.C. and Exhibit 23.1: consent.
Clarus receives $160M non-binding offer from Exec Chairman to buy Precision Sport segment
Warren B. Kanders offers $160M (cash-free, debt-free) to acquire Precision Sport segment via affiliated entity.
EVP, CAO, Secretary & Treasurer Aaron Kuehne departs Clarus; consulting agreement in place
Kuehne's employment terminated August 31, 2023; one-year non-compete and consulting through August 31, 2024.
Clarus Q2 sales down 27% to $83.7M; net loss of $2.1M; lowers FY2023 guidance
Sales $83.7M (down 27% YoY); net loss $2.1M vs income $3.8M; adj. EPS $0.11 vs $0.33 YoY.
Clarus Corporation files legal opinion and consent of counsel, no financial updates
Filed Exhibit 5.1: opinion of Kane Kessler, P.C. regarding legal matters.
Clarus Corporation stockholders approve all proposals at 2023 Annual Meeting
Six directors elected: Warren B. Kanders, Donald L. House, Nicholas Sokolow, Michael Henning, Susan Ottmann, James E. Walker III.
Clarus Q1 2023 sales down 14% YoY to $97.4M; adj. EPS $0.18 vs $0.37
Net income $1.6M ($0.04 diluted EPS) vs $5.3M ($0.13) a year ago.
Clarus Corp. President John Walbrecht departs; role not filled
Mutual termination effective March 31, 2023; company will not fill President role.
Base salary $600,000/year; minimum cash bonus equal to 100% of base upon achieving target EBITDA.
Clarus reports Q4 net loss of $81.6M on $104.2M sales; 2023 sales guidance ~$420M
Q4 sales $104.2M vs $118.2M YoY; net loss $81.6M ($2.20 loss per share) includes $92.3M non-cash impairment in Adventure segment.
Clarus Q3 net income drops 38% to $2.8M; cuts FY22 EBITDA guidance to $64M from $78M
Q3 sales $115.7M (+6% YoY, +9% constant currency); net income $2.8M ($0.07 diluted) vs $4.5M ($0.13) YoY.
Clarus permits Thrivent to raise stake to up to 9.9% subject to conditions
Thrivent approved to increase beneficial ownership above 4.9% but not above 9.9% of Clarus common stock.
Clarus approves two investors to increase ownership up to 12.5% under Rights Agreement
Greenhouse Funds (currently 7.4% owner) allowed to raise beneficial ownership to 12.5%.
Clarus Q2 2022 sales up 57% to $114.9M; record adj. EBITDA $17.6M; new $50M buyback
Record Q2 sales $114.9M (+57% YoY); net income $3.8M ($0.09) up 105%; adjusted EPS $0.33 (up 92%).
No operational or financial results reported in this filing.
32,337,554 shares present (~86.87% of outstanding) voted at the June 1, 2022 meeting.
GAAP net income $5.3M ($0.13 diluted EPS) vs $5.7M ($0.17) prior year; adjusted net income $14.8M ($0.37) up 44%.
Clarus amends credit facility: $300M revolver, $125M term loan, maturity April 2027
New $300M secured revolving credit facility and $125M term loan fully drawn on April 18, 2022.
Clarus Q4 2021 sales $118.2M record; net income $0.36 EPS; 2022 guidance $470M sales
Q4 2021 sales $118.2M (+56% YoY); adjusted EBITDA record $20.0M (16.9% margin).
Clarus appoints James E. Walker III to Board of Directors, effective Feb 1, 2022
James E. Walker III, 59, appointed to Clarus Board, term until next Annual Meeting.
Clarus appoints Michael Yates as CFO; Aaron Kuehne becomes COO
Michael Yates appointed CFO effective Jan 3, 2022; previously corporate controller and interim CFO at IDEX Corporation.
Clarus files legal opinion from Kane Kessler, P.C. as Exhibit 5.1; no transaction details disclosed
Exhibit 5.1 is an opinion of Kane Kessler, P.C. regarding legal matters.
Clarus Q3 sales record $109M (+69% YoY), raised FY21 guidance: sales $362.5M, adj EBITDA $57M
Q3 sales record $109.0M (+69% YoY); adjusted gross margin 38.8% (+520 bps); adj EBITDA $19.2M record (+111%).
Underwriting agreement for 2,750,000 shares at $27.00/share; net proceeds ~$69.8M after 6% underwriting discount.
Clarus reports preliminary Q3 sales $107-108M, raises FY2021 outlook
Preliminary Q3 2021 sales $107-108M, up 66-67% YoY; adjusted EBITDA $18.5-18.8M, up ~103-106%.
Clarus Corporation’s (the “Company”) Board of Directors appointed Mr. Roger Werner to serve on the Company’s Board of Directors effective as of March 8, 2024, until the Company’s next Annual Meeting of Stockholders and until his successor is duly elected and qualified.
On January 8, 2024, James E. Walker III notified the Board of Directors of Clarus Corporation (the “Company”) of his resignation as a director of the Company, effective as of January 8, 2024.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers (b) The disclosure set forth in Item 1.01 of this Report with respect to Mr. Kuehne is incorporated into this Item 5.02 by reference.
The disclosure set forth in Item 1.02 of this Report with respect to Mr. Walbrecht is incorporated into this Item 5.02 by reference. The Company does not anticipate filling the role of President of the Company at this time.
On February 1, 2022, Clarus Corporation (the “Company”) appointed Mr. James E. Walker III to serve on the Company’s Board of Directors until the Company’s next Annual Meeting of Stockholders and until his successor is duly elected and qualified.
Mr. Michael J. Yates was appointed to serve as the Company’s new Chief Financial Officer, Principal Financial Officer and Principal Accounting Officer, effective as of January 3, 2022.
As a result of the promotion of Aaron J. Kuehne to the new roles of Executive Vice President and Chief Operating Officer, effective as of January 3, 2022, Mr. Kuehne ceased serving as the Chief Financial Officer, Principal Financial Officer and Principal Accounting Officer
Max materiality 0.85 · Median 0.65 · Most common event earnings