Slide 1: Q3 Earnings Presentation
Q3 EARNINGS PRESENTATION NOVEMBER 6, 2025
Slide 2: Disclaimer
DISCLAIMER Forward -Looking Statements Please note that in this presentation we may use words such as “appears,” “anticipates,” “believes,” “plans,” “expects,” “intends,” “future,” and similar expressions which constitute forward-looking statements within the meaning of the safe harbor provisions of
Slide 3: Today's Presenters
TODAY’S PRESENTERS Warren Kanders Mike Yates Neil Fiske EXECUTIVE CHAIRMAN CFO PRESIDENT Clarus Clarus Black Diamond Equipment
Slide 4: Strategic Priorities: Q3 Highlights
STRATEGIC PRIORITIES: Q3 HIGHLIGHTS Positioned for long -term sustainable growth Strategic roadmap continues to guide execution Black Diamond objective : Successfully reset org structure and rationalized SKU Simplify and focus on the core count, positioning business for growth Adventure objective: C
Slide 5: Third Quarter Results at a Glance
THIRD QUARTER RESULTS AT A GLANCE Commitment to operational and organizational progress despite challenging macro backdrop $69.3m $20.7 m $48.7 m 35.1% $2.8 m Revenue Adventure Revenue Outdoor Revenue Adj. Gross Margin 2 Adj. EBITDA + 3% Y/Y + 16% Y/Y - 1% Y/Y 1 - 270 BPS Y/Y Adventure Outdoor Adj.
Slide 6: Outdoor - Strategic Priorities and Highlights
OUTDOOR - STRATEGIC PRIORITIES AND HIGHLIGHTS BUILDING BLOCKS IN FOCUS MANAGEMENT COMMENTARY • Continued progress reshaping the business to be more focused, profitable and competitive SIMPLIFICATION EXECUTION • Black Diamond Q3 revenue, GM and adj. EBITDA increased y/y • Full price sales increased,
Slide 7: Adventure - Strategic Priorities and Highlights
ADVENTURE - STRATEGIC PRIORITIES AND HIGHLIGHTS BUILDING BLOCKS IN FOCUS MANAGEMENT COMMENTARY • Q3 revenue and adjusted EBITDA growth y/y of 16% and 38%, FOCUS ON BASICS respectively • Lower Q3 margins driven by tariffs, inventory clear -outs, increased freight costs, and unfavorable category mix •
Slide 8: Q3 2025 Financial Results
Q3 2025 FINANCIAL RESULTS Q3 202 5 Q3 202 4 NET SALES $69.3M $67.1M ADJ. GROSS MARGIN 35.1% 37.8% ADJ. EBITDA $2.8M $2.4M ADJ. EBITDA MARGIN 4.0% 3.6% Q3 2025 gross margin improved 10 basis points year-over-year despite tariff and FX headwinds 6 February 2023 PAGE 8
Slide 9: Appendix
APPENDIX
Slide 10: Balance Sheet
BALANCE SHEET CLARUS CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (In thousands, except per share amounts) September 30, 2025 December 31, 2024 Assets Current assets Cash $ 29,508 $ 45,359 Accounts receivable, less allowance for credit losses of $1,254 and $1,271 51,755 43,678 Inven
Slide 11: Income Statement (Q3)
INCOME STATEMENT (Q3) CLARUS CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF LOSS (Unaudited) (In thousands, except per share amounts) Three Months Ended September 30, 2025 September 30, 2024 Sales Domestic sales $ 28,261 $ 24,365 International sales 41,086 42,750 Total sales 69,347 67,115 Cost of
Slide 12: Income Statement (YTD)
INCOME STATEMENT (YTD) CLARUS CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF (LOSS) INCOME (Unaudited) (In thousands, except per share amounts) Nine Months Ended September 30, 2025 September 30, 2024 Sales Domestic sales $ 77,794 $ 75,583 International sales 107,233 117,327 Total sales 185,027 192
Slide 13: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION CLARUS CORPORATION RECONCILIATION FROM GROSS PROFIT TO ADJUSTED GROSS PROFIT AND ADJUSTED GROSS MARGIN THREE MONTHS ENDED September 30, 2025 September 30, 2024 Sales $ 69,347 Sales $ 67,115 Gross profit as reported $ 24,366 Gross profit as reported $ 23,497 Plus impact of oth
Slide 14: Non-GAAP Reconciliation (Q3)
NON-GAAP RECONCILIATION (Q3) CLARUS CORPORATION RECONCILIATION FROM NET LOSS TO ADJUSTED NET INCOME AND RELATED EARNINGS PER DILUTED SHARE (In thousands, except per share amounts) Three Months Ended September 30, 2025 Total Gross Operating Income tax Tax Net Diluted (1) sales profit expenses benefit
Slide 15: Non-GAAP Reconciliation (YTD)
NON-GAAP RECONCILIATION (YTD) CLARUS CORPORATION RECONCILIATION FROM LOSS FROM CONTINUING OPERATIONS TO ADJUSTED INCOME FROM CONTINUING OPERATIONS AND RELATED EARNINGS PER DILUTED SHARE (In thousands, except per share amounts) Nine Months Ended September 30, 2025 Total Gross Operating Income tax Tax
Slide 16: Non-GAAP Reconciliation (Q3)
NON-GAAP RECONCILIATION (Q3) CLARUS CORPORATION RECONCILIATION FROM OPERATING INCOME (LOSS) TO EARNINGS BEFORE INTEREST, TAXES, DEPRECIATION, AND AMORTIZATION (EBITDA), EBITDA MARGIN, ADJUSTED EBITDA, AND ADJUSTED EBITDA MARGIN (In thousands) Three Months Ended September 30, 2025 Three Months Ended
Slide 17: Non-GAAP Reconciliation (YTD)
NON-GAAP RECONCILIATION (YTD) CLARUS CORPORATION RECONCILIATION FROM OPERATING LOSS TO EARNINGS BEFORE INTEREST, TAXES, DEPRECIATION, AND AMORTIZATION (EBITDA), EBITDA MARGIN, ADJUSTED EBITDA, AND ADJUSTED EBITDA MARGIN (In thousands) Nine Months Ended September 30, 2025 Nine Months Ended September