American Outdoor Brands, Inc. · NASDAQ:AOUT
American Outdoor Brands — Q3 2026 Earnings Presentation
39 slides from American Outdoor Brands's earnings presentation, Mar 12, 2026
Slide 1: Investor Presentation March 2026
Nasdaq: AOUT Investor Presentation March 2026 Leveraging our culture of innovation. Delivering solutions for the moments that matter.
Slide 2: Required Disclosures
RequiredDisclosures In thispresentation, certainnon-GAAPfinancialmeasures,including“non-GAAPnetincome”and“Adjusted EBITDA ” arepresented. A reconciliation oftheseandothernon-GAAPfinancialmeasuresarecontainedat theendof thispressrelease.Fromtimetotime,theCompanyconsidersandusesthesenon-GAAPfinancialm
Slide 3: We've developed a way to differentiate our brands and stand out from the noise
noise noise noise noise noise noise noise noise noise noise noise noise noise noise noise noise noise noise noise noise noise noise noise noise We’ve developed a way tonoise noise noise noise noise noise noise noise noise differentiate our brands and noise noise noise noise noise noise noise noise n
Slide 4: Innovation.
noise noise noise noise noise noise noise noise noise noise noise noise noise noise noise noise noise noise noise noise noise noise noise noise noise noise noise noise noise noise noise noise noise noise noise noise noise noise noise noise noise noise noise noise noise noise noise noise noise noise
Slide 5: Why Innovation?
Why Innovation? It resonates with … promotes growth… … and increases U.S. consumers... resilience amid uncertainty. 76% arewilling to pay morefor products that 1.8x align with their values, such as innovation and (1) sustainability. Manufacturers who grew innovation sales in 2022 were1.8x more likel
Slide 6: We Are an Innovation Company
We Are an We leverage our innovation advantage to widen distribution, expand brand awareness, and increase profitability, while Innovation Company remaining agile and asset-light. What if we could change how 54 million people fish? 6
Slide 7: We Operate in Two Categories
We Operate in Our 19 brands serve consumer activities organized into two categories – Outdoor Lifestyle and Shooting Sports. Two Categories Outdoor Lifestyle Shooting Sports $119.9M $85.5M TTM Net Sales TTM Net Sales Land Management Target Shooting & Hunting Cleaning & Maintenance Rugged Outdoor (Cu
Slide 8: We Target Resilient Consumer Activities
We TargetResilient Approximately 175 million Americans participate in outdoor recreation. We thrive in categories where consumers are passionate, can Consumer Activities participate for a lifetime, and activities are “gear-rich” in nature. ~92M ~54M ~86M ~15M ~40M OUTDOOR COOKING HOUSEHOLDS ANGLERS
Slide 9: These passionate consumers seek out gear that enhances their enjoyment
These passionate consumers seek out gear that enhances their enjoyment. Our superpower is uncovering their pain points. 9
Slide 10: Solving consumer pain points isn't always obvious, so we mix things up
But solving consumer pain points isn’t always obvious, sowe’ve learned to mix things up. Our most innovative ideas often come from mixing IP and technologies across our two categories: Shooting Sports & Outdoor Lifestyle. This cross- pollination helps yield category disruption. 10
Slide 11: Breakthrough New Products Reflect the Strength of Our Innovation Pipeline
Breakthrough New Products Reflect the Strength and Breadth of Our Innovation Pipelin Extending Reach. Redefining the Experience. Setting the Standard. 11
Slide 12: Breakthrough New Products: BUBBA
Breakthrough New Products Reflect the Strength and Breadth of Our Innovation Pipelin Electric Fillet Knife introduction extended BUBBA’s reach into the large freshwater market while establishing electronics capability. Pro Series Smart Fish Scale introduction extended BUBBA’s reach beyond meat proce
Slide 13: Breakthrough New Products: Caldwell
Breakthrough New Products Reflect the Strength and Breadth of Our Innovation Pipelin Caldwell Claymore redefined traditional clay throwers with a revolutionary all-mechanical, portable design. Pull-Pup redefined handheld clay throwers by enabling throwers to adjust target angles with ease. Claymore
Slide 14: Breakthrough New Products: Grilla
Breakthrough New Products Reflect the Strength and Breadth of Our Innovation Pipelin Grilla’s Outdoor Kitchen set the standard for modular outdoor kitchens, creating opportunity for an integrated ecosystem of products. Chimp Tailgater set the standard for portability, making pellet grills more acces
Slide 15: We're not afraid to try new things
We’re not afraid to try new things… … like creating new brands from scratch. We created the “MEAT! Your Maker” brand in 2020. It reached $18.4M in fiscal 2025 sales, up 33% YOY. 15
Slide 16: Consumers are responding to our innovation
Consumers are responding to our innovation. It’s starting to stack up... 16
Slide 17: Innovation Is Our Growth Engine
Innovation Is Our Our proven innovation platform has been stacking up, yielding $93M+ of incremental organic revenue compared to five years ago, while Growth Engine protecting future revenue potential with 170 new patents. Annual Net Sales Contribution from New Products $114M Products Introduced in
Slide 18: Our new product pipeline is swelling
Our new product pipeline isswelling. Our innovation engine is predictive, driven by our repeatable and scalable process, yielding a pipeline that extends well into the future. 18
Slide 19: Innovation is key to unlocking growth potential with retailers
We believe innovation is also the key to unlocking growth potential with retailers. Our value proposition: We offer retailers with instant access to innovation and excitement. 19
Slide 20: 4-Pillar growth strategy
Innovation deepens existing customer relationships while attracting new ones– it forms the basis for our 4-Pillar growth strategy: 1. Gain 2. EnterNew 3. EnterNew 4. Expand Market Share Product Categories Consumer Markets Distribution Innovation enables us to bring in new consumers, like property ow
Slide 21: Because innovation is our core competency, we are asset-light
Because innovation is our core competency, we are asset-light, by design. 21
Slide 22: We Are Intentionally Asset-Light
We Are Intentionally As an innovation company, we maintain an asset-light operation with outsourced manufacturing and scalable infrastructure in Asset-Light place to support $400 million in revenue. Big infrastructure Small footprint (<300 employees, 1 DC) Owned manufacturing Design all products our
Slide 23: Even giants started out small
Even giantsstarted out small. We’re a small public company today, but we have a winning culture, strategy, and discipline to be significantly larger. We’ve set our sights on $400M in future net sales, ~2x larger than today. We believe this is achievable by continuing to execute on our extensive inno
Slide 24: Our Operating Model Is Highly Accretive
Our Operating Model We have a track record of delivering incremental margin on revenue growth above $200M in net sales. We believe our brands are capable of is Highly Accretive $400M in net sales – at that level, we expect EBITDA to exceed $70M. Net Sales & Adjusted EBITDA % Illustrative Future Stat
Slide 25: We believe flexibility is important for growth and stability
We believeflexibility is importantfor both growth and stability. Our balance sheet would agree… 25
Slide 26: Our Balance Sheet Provides Flexibility
Our Balance Sheet We have resources to fuel our growth, with a debt-free balance sheet and access to capital for organic growth, opportunistic and Provides Flexibility disciplined M&A, and stock buybacks. Flexible Capital Cash on Hand No Debt Allocation $10.4M (as of 1/31/26) $0 1. Fuel organic grow
Slide 27: Owning a stake in AOB is owning a stake in innovation
Owning a stake in AOB is owning a stake Summary Investment in innovation. Considerations 1. Large, resilient consumer end markets 2. Innovation vitality – it’s stacking up 3. Ability to blend technologies across two categories 4. Swelling new product pipeline for future growth 5. Asset-light, by des
Slide 28: 3Q FY26 Highlights
3Q FY26Highlights New Outdoor POS Innovation Products Lifestyle Results Expanding The 26.6% of +5.4% +5% ClayCopter Net Sales Ecosystem Total Net Ending Share Outstanding Sales Cash Buyback Debt $56.6M $10.4M 181K Shares $0M 28
Slide 29: Appendix
Appendix 29
Slide 30: Net Sales Category Breakout
Net Sales Since FY20, our Outdoor Lifestyle category has grown 56.8%, driven by fishing, hunting, meat processing, and outdoor cooking Category Breakout products, and our Shooting Sports category has declined 5.9%. Outdoor Lifestyle Shooting Sports ($ in millions) $127.1 $119.9 $90.9 $95.2 $85.5 $76
Slide 31: Go-to-Market Expansion
Go-to-Market As we grow in the future, we expect our net sales to be comprised of 65% Outdoor Lifestyle, 10% international, and a Expansion 60/40 split between Traditional and e-Commerce. By Product Category By Geography By Sales Channel ($ in millions) = Outdoor Lifestyle $400 = International $400
Slide 32: Diverse Customers & Channels
DiverseCustomers We have an ever-expanding distribution network, delivering our products wherever consumers may shop. In addition, each of our & Channels key brands has its own dedicated e-commerce website. Home, Farm, Distributors & National Retailers Automotive Buying Groups Online Retailers OEMs
Slide 33: Executive Team
Executive James Tayon Brent Vulgamott Team Chief Product Officer Chief Operating Officer Brian Murphy Liz Sharp President & CEO, Director VP, Investor Relations Andy Fulmer Chief Financial Officer 33
Slide 34: Income Statement
Income Statement AMERICAN OUTDOOR BRANDS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS {in thousands, except per share data) For the Three Months ended January 31, For the Nine Months ended January 31, 2026 2025 2026 2025 (Unaudited) (Unaudited) Net sales $s 56576 $ 58,505 $ 143,477 $
Slide 35: Balance Sheet
AMERICAN OUTDOOR BRANDS, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS Balance Sheet (In thousands, except par value and share data) January 31, 2026 As of: (Unaudited) April 30, 2025 ASSETS Current assets: Cash and cash equivalents $ 10,395 $ 23,423 Accounts receivable, net of allowance for cre
Slide 36: Statement of Cash Flows
Statement of Cash AMERICAN OUTDOOR BRANDS, INC. AND SUBSIDIARIES Flows CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) For the Nine Months Ended January 31, 2026 2025 (Unaudited) Cash flows from operating activities: Net (loss)/income $ (8,827) $ 915 Adjustments to reconcile net (loss)/income t
Slide 37: Non-GAAP Reconciliation
AMERICAN OUTDOOR BRANDS, INC. AND SUBSIDIARIES 0 n- RECONCILIATION OF GAAP FINANCIAL MEASURES TO NON-GAAP FINANCIAL MEASURES (In thousands, except per share data) =u: if For the Three Months ended January 31, For the Nine Months ended January 31. econciliation a (Unaudited) GAAP gross profit $ 2010
Slide 38: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation Note: On February 20, 2026, the United States Supreme Court issued a ruling striking down tariffs previously imposed under the International Emergency Economic Powers Act of 1977 ("IEEPA"). Our non-GAAP Adjusted EBITDA for both the three and nine months ended January 3
Slide 39: Contact Us
Contact Us: Liz Sharp VP, Investor Relations LSharp@aob.com Website: www.aob.com 39
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