Slide 1: Q4 Earnings Presentation - March 6, 2025
Q4 EARNINGS PRESENTATION — MARCH 6, 2025 ? gi ‘ cK
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 CLARUS | ~ >», y SON Warren Kanders Mike Yates Neil Fiske Mat Hayward EXECUTIVE CHAIRMAN CFO PRESIDENT MANAGING DIRECTOR Clarus Clarus Black Diamond Equipment Adventure
Slide 4: Total debt of $1.9 million related to RockyMounts acquisition
1 Total debt of $1.9 million at 12/31 related to the RockyMounts acquisition 6 February 2023
Slide 5: Q4 2024 Highlights
Revenue Adventure Revenue Outdoor Revenue Adj. Gross Margin Adj. EBITDA - 7% Y/Y - 23% Y/Y + 2% Y/Y +330 BPS Y/Y + 173% Y/Y Adventure Outdoor Adj. EBITDA: Adj. EBITDA: $1.6m $4.5m
Slide 6: Adventure - Strategic Priorities and Highlights
ADVENTURE - STRATEGIC PRIORITIES AND HIGHLIGHTS BUILDING BLOCKS IN FOCUS INVESTMENT INTO U.S. AND ROW ANY ADVENTURE MANAGEMENT COMMENTARY . Primary objective to increase scale globally continued to guide investment and execution in Q4 Results impacted by slowdown in home market of Australia and prod
Slide 7: Outdoor - Strategic Priorities and Highlights
OUTDOOR - STRATEGIC PRIORITIES AND HIGHLIGHTS BUILDING BLOCKS IN FOCUS * Delivered on commitment to reshape business and set foundation, SIMPLIFICATION EXECUTION for LT growth w/ double digit annual EBITDA margins * While FY24 revenue down 10% y/y, consistent with expectations, adjusted EBITDA up 80
Slide 8: SKU and Style Simplification
9,000 8,058 8,000 6,810 7,000 6,015 6,026 5,767 5,704 • 6,000 5,640 5,000 4,000 • 3,000 2,000 1,347 1,166 1,116 1,029 992 1,017 1,005 1,000 • 0 Spring 2023 Fall 2023 Spring 2024 Fall 2024 Spring 2025 Fall 2025 Spring 2026 Total SKUs Total Styles 250,000 $7.7M $3.6M $31.8M • $204.1M 200,000 $183.6M 1
Slide 9: Q4 and FY 2024 Financial Results
Q4 AND FY 2024 FINANCIAL RESULTS CLARUS | Te BC Ee } | wersnes sma | soca aac 38.0% 37.5% ADJ. EBITDA PAGES
Slide 10: Full Year Guidance
FULL YEAR GUIDANCE ADJ. EBITDA y ro FREE CASH FLOWS * Consistent with historical seasonal pattern, H2 accelerates versus H1 PAGE10
Slide 11: Appendix
APPENDIX
Slide 12: Condensed Consolidated Balance Sheets
CLARUS CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (In thousands, except per share amounts) December 31, 2024 December 31, 2023 Assets Current assets Cash $ 45,359 $ 11,324 Accounts receivable, net 43,678 53,971 Inventories 82,278 91,409 Prepaid and other current assets 5,555 4,865
Slide 13: Condensed Consolidated Statements of Loss - Three Months
CLARUS CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF LOSS (Unaudited) (In thousands, except per share amounts) Three Months Ended December 31, 2024 December 31, 2023 Sales Domestic sales $ 30,162 $ 31,840 International sales 41,243 44,663 Total sales 71,405 76,503 Cost of goods sold 47,540 54,361
Slide 14: Condensed Consolidated Statements of Loss - Twelve Months
CLARUS CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF LOSS (Unaudited) (In thousands, except per share amounts) Twelve Months Ended December 31, 2024 December 31, 2023 Sales Domestic sales $ 105,745 $ 112,385 International sales 158,570 173,635 Total sales 264,315 286,020 Cost of goods sold 171,69
Slide 15: Reconciliation from Gross Profit to Adjusted Gross Profit
CLARUS CORPORATION RECONCILIATION FROM GROSS PROFIT TO ADJUSTED GROSS PROFIT AND ADJUSTED GROSS MARGIN THREE MONTHS ENDED December 31, 2024 December 31, 2023 Sales $ 71,405 Sales $ 76,503 Gross profit as reported $ 23,865 Gross profit as reported $ 22,142 Plus impact of inventory fair value adjustme
Slide 16: Reconciliation to Adjusted Income from Continuing Operations - Three Months
CLARUS CORPORATION RECONCILIATION FROM LOSS FROM CONTINUING OPERATIONS TO ADJUSTED (LOSS) INCOME FROM CONTINUING OPERATIONS AND RELATED EARNINGS PER DILUTED SHARE (In thousands, except per share amounts) Three Months Ended December 31, 2024 Total Gross Operating Income tax Tax (Loss) income from Dil
Slide 17: Reconciliation to Adjusted Income from Continuing Operations - Twelve Months
CLARUS CORPORATION RECONCILIATION FROM LOSS FROM CONTINUING OPERATIONS TO ADJUSTED (LOSS) INCOME FROM CONTINUING OPERATIONS AND RELATED EARNINGS PER DILUTED SHARE (In thousands, except per share amounts) Twelve Months Ended December 31, 2024 Total Gross Operating Income tax Tax (Loss) income from Di
Slide 18: Reconciliation to EBITDA and Adjusted EBITDA - Three Months
CLARUS CORPORATION RECONCILIATION FROM OPERATING (LOSS) INCOME TO EARNINGS BEFORE INTEREST, TAXES, DEPRECIATION, AND AMORTIZATION (EBITDA), EBITDA MARGIN, ADJUSTED EBITDA, AND ADJUSTED EBITDA MARGIN (In thousands) Three Months Ended December 31, 2024 Three Months Ended December 31, 2023 Outdoor Adve
Slide 19: Reconciliation to EBITDA and Adjusted EBITDA - Twelve Months
CLARUS CORPORATION RECONCILIATION FROM OPERATING (LOSS) INCOME TO EARNINGS BEFORE INTEREST, TAXES, DEPRECIATION, AND AMORTIZATION (EBITDA), EBITDA MARGIN, ADJUSTED EBITDA, AND ADJUSTED EBITDA MARGIN (In thousands) Twelve Months Ended December 31, 2024 Twelve Months Ended December 31, 2023 Outdoor Ad