Slide 1: Q4 Earnings Presentation
Q4 EARNINGS PRESENTATION MARCH 5, 2026
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: Q4 Highlights
STRATEGIC PRIORITIES: Q4 HIGHLIGHTS Positioned for long -term sustainable growth Strategic roadmap continues to guide execution Black Diamond objective : Simplified business showing growth and resilience in three Simplify and focus on the core core categories, despite unfavorable market conditions A
Slide 5: Fourth Quarter Results at a Glance
FOURTH QUARTER RESULTS AT A GLANCE Commitment to operational and organizational progress despite challenging macro backdrop $65.4m $18.2m $47.2 m 33.6 % $1.2m Revenue Adventure Revenue Outdoor Revenue Adj. Gross Margin 1 Adj. EBITDA - 8% Y/Y - 10% Y/Y - 8% Y/Y - 440 BPS Y/Y Adventure Outdoor Adj. EB
Slide 6: Outdoor - Strategic Priorities and Highlights
OUTDOOR - STRATEGIC PRIORITIES AND HIGHLIGHTS BUILDING BLOCKS IN FOCUS MANAGEMENT COMMENTARY • After multiple quarters of success prioritizing best and most profitable styles, Black Diamond is leaner, more focused, agile SIMPLIFICATION EXECUTION and competitive • Positioned for sustained profitable
Slide 7: Adventure - Strategic Priorities and Highlights
ADVENTURE - STRATEGIC PRIORITIES AND HIGHLIGHTS BUILDING BLOCKS IN FOCUS MANAGEMENT COMMENTARY • Lower Q4 sales driven by reduced demand from two OEM customers, as well as weakness in U.S. bike market and customer FOCUS ON BASICS transitions in ANZ • Partially offset by successful expansion into Eur
Slide 8: Q4 and FY 2025 Financial Results
Q4 AND FY 2025 FINANCIAL RESULTS Q4 2025 FY 2025 Q4 202 4 FY 202 4 NET SALES $65.4M $250.4 M $71.4M $264.3 M ADJ. GROSS 33.6% 34.9% 38.0% 37.5% MARGIN ADJ. EBITDA $1.2M $1.1M $4.4M $6.9M ADJ. EBITDA 1.8% 0.4% 6.1% 2.6% MARGIN 6 February 2023 PAGE 8
Slide 9: Full Year Guidance
FULL YEAR GUIDANCE 2026 NET SALES $255M - $265M ADJ. EBITDA $9M - $11M MID-POINT ADJ. EBITDA % 3.8% ADJ. CORPORATE COSTS $8M CAPEX $6M - $7M FREE CASH FLOWS $3M - $4M • Consistent with historical seasonal pattern, H2 accelerates versus H1 • Q1 guidance : Net sales between $60 -$62 million 6 February
Slide 10: Appendix
APPENDIX
Slide 11: Balance Sheet
BALANCE SHEET CLARUS CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (In thousands, except per share amounts) December 31, 2025 December 31, 2024 Assets Current assets Cash $ 36,691 $ 45,359 Accounts receivable, net 44,839 43,678 Inventories 83,028 82,278 Prepaid and other current asse
Slide 12: Income Statement (Q4)
INCOME STATEMENT (Q4) CLARUS CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF LOSS (Unaudited) (In thousands, except per share amounts) Three Months Ended December 31, 2025 December 31, 2024 Sales Domestic sales $ 28,329 $ 30,162 International sales 37,084 41,243 Total sales 65,413 71,405 Cost of go
Slide 13: Income Statement (YTD)
INCOME STATEMENT (YTD) CLARUS CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF LOSS (Unaudited) (In thousands, except per share amounts) Twelve Months Ended December 31, 2025 December 31, 2024 Sales Domestic sales $ 106,123 $ 105,745 International sales 144,317 158,570 Total sales 250,440 264,315 Co
Slide 14: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION CLARUS CORPORATION RECONCILIATION FROM GROSS PROFIT TO ADJUSTED GROSS PROFIT AND ADJUSTED GROSS MARGIN THREE MONTHS ENDED December 31, 2025 December 31, 2024 Sales $ 65,413 Sales $ 71,405 Gross profit as reported $ 18,136 Gross profit as reported $ 23,865 Plus impact of inven
Slide 15: Non-GAAP Reconciliation (Q4)
NON-GAAP RECONCILIATION (Q4) CLARUS CORPORATION RECONCILIATION FROM LOSS FROM CONTINUING OPERATIONS TO ADJUSTED INCOME (LOSS) FROM CONTINUING OPERATIONS AND RELATED EARNINGS PER DILUTED SHARE (In thousands, except per share amounts) Three Months Ended December 31, 2025 Total Gross Operating Income t
Slide 16: Non-GAAP Reconciliation (YTD)
NON-GAAP RECONCILIATION (YTD) CLARUS CORPORATION RECONCILIATION FROM LOSS FROM CONTINUING OPERATIONS TO ADJUSTED INCOME (LOSS) FROM CONTINUING OPERATIONS AND RELATED EARNINGS PER DILUTED SHARE (In thousands, except per share amounts) Twelve Months Ended December 31, 2025 Total Gross Operating Income
Slide 17: Non-GAAP Reconciliation (Q4)
NON-GAAP RECONCILIATION (Q4) 6 February 2023 PAGE 17
Slide 18: 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) Twelve Months Ended December 31, 2025 Twelve Months Ended Decembe