The company continues to struggle with top-line growth, reporting a 24.0% year-over-year revenue decline in 2026Q4 while operating margins compressed to -8.1%.
| Sales/Revenue | 190.54M | 222.32M | 201.1M | 191.21M | 247.53M | 276.69M | 167.38M | 177.36M |
| Revenue Growth % | -14.3% | 10.55% | 5.17% | -22.75% | -10.54% | 65.31% | -5.63% | - |
| Cost of Goods Sold | 105.34M | 123.06M | 112.67M | 103.14M | 133.29M | 149.86M | 96.36M | 93.89M |
| COGS % of Revenue | 55.29% | 55.35% | 56.03% | 53.94% | 53.85% | 54.16% | 57.57% | 52.94% |
| Gross Profit | 85.19M | 99.26M | 88.43M | 88.06M | 114.24M | 126.83M | 71.02M | 83.47M |
| Gross Margin % | 44.71% | 44.65% | 43.97% | 46.06% | 46.15% | 45.84% | 42.43% | 47.06% |
| Gross Profit Growth % | -14.17% | 12.26% | 0.41% | -22.91% | -9.93% | 78.59% | -14.92% | - |
| Operating Expenses | 94.19M | 99.42M | 100.92M | 100.76M | 102.91M | 103.33M | 84.88M | 87.14M |
| OpEx % of Revenue | 49.44% | 44.72% | 50.19% | 52.7% | 41.58% | 37.35% | 50.71% | 49.13% |
| Selling, General & Admin | 84.67M | 91.71M | 94.07M | 94.4M | 97.41M | 97.95M | 79.89M | 82.28M |
| SG&A % of Revenue | 44.44% | 41.25% | 46.78% | 49.37% | 39.35% | 35.4% | 47.73% | 46.39% |
| Research & Development | 6.09M | 7.71M | 6.85M | 6.36M | 5.5M | 5.38M | 5M | 4.86M |
| R&D % of Revenue | 3.19% | 3.47% | 3.41% | 3.33% | 2.22% | 1.94% | 2.98% | 2.74% |
| Other Operating Expenses | 3.43M | 0 | 0 | 0 | 0 | 497K | -21K | 54K |
| Operating Income | -9M | -154K | -12.5M | -12.65M | 11.33M | 23.5M | 85.06M | -14.06M |
| Operating Margin % | -4.72% | -0.07% | -6.21% | -6.62% | 4.58% | 8.49% | 50.82% | -7.93% |
| Operating Income Growth % | -5744.16% | 98.77% | 1.23% | -211.72% | -51.79% | -72.38% | 704.78% | - |
| EBITDA | -9M | 13.12M | 3.6M | 3.86M | 28.29M | 43.32M | 108.97M | 10.93M |
| EBITDA Margin % | -4.72% | 5.9% | 1.79% | 2.02% | 11.43% | 15.66% | 65.1% | 6.16% |
| EBITDA Growth % | -168.59% | 264.07% | -6.58% | -86.36% | -34.69% | -60.25% | 897.45% | - |
| D&A (Non-Cash Add-back) | 0 | 13.28M | 16.1M | 16.51M | 16.97M | 19.83M | 23.91M | 24.99M |
| EBIT | 0 | -154K | -12.5M | -12.65M | 11.33M | 23.5M | -13.87M | -3.67M |
| Net Interest Income | 0 | 60K | 39K | -761K | -324K | 300K | 4.96M | 5.22M |
| Interest Income | 0 | 60K | 39K | 0 | 0 | 300K | 4.96M | 5.22M |
| Interest Expense | -276K | 0 | 0 | 761K | 324K | 0 | 0 | 0 |
| Other Income/Expense | -163K | 200K | 179K | 427K | -66.86M | 797K | -88.36M | 5.28M |
| Pretax Income | -9.16M | 46K | -12.32M | -12.27M | -55.54M | 24.29M | -107.85M | -8.79M |
| Pretax Margin % | -4.81% | 0.02% | -6.13% | -6.42% | -22.44% | 8.78% | -64.44% | -4.95% |
| Income Tax | 45K | 123K | -70K | -249K | 9.34M | 5.89M | -11.65M | 734K |
| Effective Tax Rate % | -0.49% | 267.39% | 0.57% | 2.03% | -16.83% | 24.23% | 10.8% | -8.35% |
| Net Income | -9.21M | -77K | -12.25M | -12.02M | -64.88M | 18.41M | -96.2M | -9.52M |
| Net Margin % | -4.83% | -0.03% | -6.09% | -6.29% | -26.21% | 6.65% | -57.48% | -5.37% |
| Net Income Growth % | -11858.44% | 99.37% | -1.86% | 81.47% | -452.51% | 119.13% | -910.41% | - |
| Net Income (Continuing) | -9.21M | -77K | -12.25M | -12.02M | -64.88M | 18.41M | -96.2M | -9.52M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.73 | -0.01 | -0.94 | -0.90 | -4.66 | 1.29 | -6.93 | -0.69 |
| EPS Growth % | - | 99.36% | -4.44% | 80.69% | -461.24% | 118.61% | -904.35% | - |
| EPS (Basic) | -0.73 | -0.01 | -0.94 | -0.90 | -4.66 | 1.31 | -6.93 | -0.69 |
| Diluted Shares Outstanding | 12.59M | 12.81M | 12.97M | 13.37M | 13.93M | 14.22M | 13.88M | 13.88M |
| Basic Shares Outstanding | 12.59M | 12.81M | 12.97M | 13.36M | 13.92M | 14M | 13.88M | 13.88M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - |
Cyclical demand and destocking
According to the most recent quarterly financial data, AOUT experienced a significant 24.0% year-over-year revenue decline in 2026Q4, signaling that the company is struggling to maintain its top-line momentum as the post-pandemic demand surge for outdoor accessories continues to normalize across its primary retail channels.
The consistent quarterly revenue volatility suggests that the company's transactional business model is highly susceptible to retail inventory destocking cycles. Investors should monitor whether the current downward trajectory reflects a structural loss of market share or merely a temporary adjustment to normalized consumer participation rates.
Based on reported figures, AOUT maintained a gross margin of 46.9% in 2026Q4, demonstrating a surprising ability to preserve pricing power despite the broader 14.30% annual revenue decline and the ongoing challenges within the competitive outdoor leisure equipment market.
This margin stability implies that management is prioritizing brand equity over aggressive promotional discounting to clear excess inventory. However, the inability to translate these healthy gross margins into positive operating income suggests that the current revenue scale is insufficient to absorb the company's fixed cost base.
As indicated by the income statement, AOUT's operating margin fell to -8.1% in 2026Q4, illustrating a clear lack of operating leverage as fixed SG&A expenses continue to outpace the company's ability to generate sufficient gross profit during periods of declining sales volume.
The persistent negative operating income indicates that the company's current cost structure is not sufficiently variable to match the cyclical nature of its revenue. Further investigation is warranted to determine if management can successfully rationalize its overhead without compromising the innovation pipeline required for future growth.
Financial statements reveal that stock-based compensation remains a consistent expense, with $796,000 recorded in 2026Q4, which further exacerbates the net loss of $381,000 and highlights the disconnect between reported non-cash charges and the company's current inability to achieve consistent bottom-line profitability.
The reliance on equity-based incentives during a period of negative net margins may concern shareholders regarding the alignment of management compensation with actual operational performance. Analysts should scrutinize whether these non-cash charges are masking the true extent of the company's cash-based operational burn.
Quick answers to the most common questions about buying AOUT stock.
For fiscal year 2026, American Outdoor Brands, Inc. (AOUT) reported total revenue of $190.5M. This represents a 7.4% increase compared to $177.4M in 2019.
American Outdoor Brands, Inc. (AOUT) reported a net loss of $9.2M for the fiscal year ending 2026.
American Outdoor Brands, Inc. (AOUT) reported an operating income of $-9.0M, resulting in an operating profit margin of -4.7%. This margin reflects the operational efficiency of the business before interest and taxes.
American Outdoor Brands, Inc. (AOUT) generated $85.2M in gross profit for the year, representing a gross profit margin of 44.7%. This demonstrates the company's core pricing power and production efficiency.