Academy Sports And Outdoors, Inc. · NASDAQ:ASO
Academy Sports And Outdoors — Q4 2025 Earnings Presentation
22 slides from Academy Sports And Outdoors's earnings presentation, Mar 17, 2026
Slide 1: Academy Sports + Outdoors Q4 2025 Earnings
ACADEMY SPORTS + OUTDOORS Q4 2025 EARNINGS PRESENTATION TITLE SLIDE
Slide 2: Safe Harbor
SAFE HARBOR • This presentation by Academy Sports and Outdoors, Inc. (the “Company”) contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements a
Slide 3: Who Is Academy Sports + Outdoors?
WHO IS ACADEMY SPORTS + OUTDOORS? • We are a $6 billion retailer of trending VISION outdoor and sport categories, operating 322 stores across 21 states To be the BEST sports + outdoors and counting retailer in the country • We have a significant growth MISSION opportunity, highlighted by our current
Slide 4: Growth Plan: Strategy & Goals
GROWTH PLAN: STRATEGY & GOALS 1.Open NEW STORES to expand the store base by 50%+ in existing and new markets 2.Build a more powerful OMNI-CHANNEL business 3.Drive our EXISTING BUSINESS by: • Improving service and productivity in our stores • Strengthening our merchandising through meaningful assort
Slide 5: New Store Growth
NEW STORE GROWTH ASO has opened 63 new stores over the past four years as part of our new store growth strategy, including expanding into 5 new states. During the fourth quarter we opened 5 stores. We opened 16 new stores in fiscal 2024 and opened 24 stores in fiscal 2025 across legacy, existing and
Slide 6: Jordan Brand & Nike Expansion
JORDAN BRAND & NIKE EXPANSION On April 23, 2025, the Company launched Jordan Brand in 145 doors and online as well as expanded our Nike assortment in the majority of the stores and online. Additionally, on March 17, 2026, the Company announced that Jordan Brand shop concept will expand to an additio
Slide 7: Successfully Launched New Rewards
SUCCESSFULLY LAUNCHED NEW REWARDS In February of 2026, the Company successfully launched a multi-tiered new myAcademy Rewards program across a subset of Academy stores, followed by a phased roll out to the rest of the chain and online to be complete by the end of the second quarter. 7
Slide 8: Q4 FY 2025 Results
Q4 FY 2025 RESULTS • Sales growth of 2.5% $1.7B -1.6% Net Sales • Gross Margin expansion of 140 Comp Sales 2.5% year-over-year basis points • EPS growth of 4.8% 33.6% 5 • Opened five new stores Gross Margin New Store Openings $1.98 $1.97* GAAP EPS Adjusted EPS + 4.8% v Q4 LY Source: The Company’s Q4
Slide 9: FY 2025 Accomplishments
FY 2025 ACCOMPLISHMENTS E-commerce Growth: Segment grew +13.6%, and launched "Scout" AI agent Store Expansion: 24 new openings outperformed pro formas & driving mid-single-digit comps In-Stock Optimization: Improved in stocks +500bps via assortment rationalization and RFID rollout Brand Curation: Le
Slide 10: Capital Allocation
CAPITAL ALLOCATION Our strategy remains focused on generating cash flow to reinvest into growth initiatives for the business, and to return the majority of our free cash flow back to investors through dividends and stock repurchases. • During the fourth quarter, we paid $8.6 million dollars in divid
Slide 11: Fiscal 2026 Guidance
FISCAL 2026 GUIDANCE lemy’ Sonts+oUTDOORS! Fiscal 2026 Guidance Ce {at midpoint) 2025 (in millions, except per share amounts) Lowend Highend actuals vs. 2025 Net sales $6,175 $6,355 $6,053 35 Sales growth 2.0% 5.0 % 2.0% 35 | Comparable sales (1.0)% 2.0 % (1.5)% 133.3 |Gross margin rate 345% 35.0% 3
Slide 12: Management: Experienced Retail Leadership
Management: Experienced Retail Leadership Steve Lawrence CEO = Servedas CEO and member of the Board of Directors since June 2023 = Joined the Company in February 2019 as EVP and CMO Bill Ennis EVP, CAO = Served as EVP and CAO since January 2024 + Joined the Company in April 2008 as Vice President of
Slide 13: Financials
FINANCIALS PRESENTATION TITLE SLIDE
Slide 14: Consolidated Statements of Income (Quarter)
lemy’ Sonts+oUTDOORS! ACADEMY SPORTS AND OUTDOORS, INC. CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (Amounts in thousands, except per share data) iscal Quarter Ended ercentage o' ercentage o' January 31, 2026 Sales February 1, 2025 Sales “ Net sales $ 1,718,471 100.0% $ 1,676,920 100.0 % Cost of g
Slide 15: Consolidated Statements of Income (Year)
lemy’ Sonts+oUTDOORS! ACADEMY SPORTS AND OUTDOORS, INC. CONSOLIDATED STATEMENTS OF INCOME (Amounts in thousands, except per share data) Percentage of Percentage of January 31,2026 Sales (* February 1,2025 Sales (! Net sales $ 6,053,414 100.0% $ 5,933,450 100.0 % Cost of goods sold 3,947,801 65.2% 3,
Slide 16: Consolidated Balance Sheets
ACADEMY SPORTS AND OUTDOORS, INC. CONSOLIDATED BALANCE SHEETS (Dollar amounts in thousands, except per share data) ASSETS CURRENT ASSETS: ‘Cash and cash equivalents s 330,320 $ ‘Accounts receivable - less alowance for doubtful accounts of $1,792 and $2,752, respectively 34,755 ‘Merchandise inventori
Slide 17: Consolidated Statements of Cash Flows
ACADEMY SPORTS AND OUTDOORS, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (Amounts in thousands) Fiscal Year Ended: January 31, February, 2026 2025 CCASH FLOWS FROM OPERATING ACTIVITIES Netincome Ssre7e Ss 8.447 Adjustments to reconcile net income to net cash provided by operating activities: Deprecia
Slide 18: GAAP to Non-GAAP Reconciliations
GAAP TO NON-GAAP RECONCILIATIONS • Adjusted Net Income, Adjusted Earnings per Common Share, Adjusted EBITDA, Adjusted EBIT and Adjusted Free Cash Flow, have been presented in this presentation as supplemental measures of financial performance that are not required by, or presented in accordance with
Slide 19: Reconciliations of GAAP to Non-GAAP Financial Measures
Academy’ ACADEMY SPORTS AND OUTDOORS, INC. RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES (Unaudited) Adjusted EBITDA and Adjusted EBIT We define “Adjusted EBITDA” as net income (loss) before interest expense, net, income tax expense and depreciation, amortization, and impairment, and other
Slide 20: Adjusted Net Income and Adjusted Earnings Per Common Share
Academy’ Adjusted Net Income and Adjusted Earnings Per Common Share We define “Adjusted Net Income” as net income (loss) plus other adjustments included in the table below, less the tax effect of these adjustments. We define “Adjusted Earnings per Common Share, Basic" as Adjusted Net Income divided
Slide 21: Adjusted Net Income and Adjusted EPS Guidance Reconciliation
Adjusted Net Income and Adjusted Earnings Per Common Share, Diluted, Guidance Reconciliation (amounts in millions, except per share data) Low Range* High Range* Fiscal Year Ending Fiscal Year Ending January 30, 2027 January 30, 2027 Net Income $ 380.0 $ 415.0 Equity compensation (a) 30.0 $ 30.0 Adju
Slide 22: Adjusted Free Cash Flow
Adjusted Free Cash Flow We define “Adjusted Free Cash Flow” as net cash provided by (used in) operating activities less net cash used in investing activities. We describe these adjustments reconciling net cash provided by operating activities to adjusted free cash flow in the following table (amount
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