Revenue has stabilized at $56.2M in 2026Q2 with a 1.6% year-over-year gain, but gross margin swings from 23.5% to 48.9% over two quarters and operating margin of 8.1% after recurring losses suggest the earnings trend remains unproven.
Clarus Corporation (CLAR) annual income statement — 28-year revenue, gross profit & net income history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 |
|---|
| Sales/Revenue | 255.24M | 250.44M | 264.31M | 286.02M | 315.25M | 265.97M | 224.01M | 229.44M | 212.14M | 170.69M | 148.19M | 149.48M | 193.14M | 203.04M | 175.88M | 145.78M | 75.91M | 0 | 0 | 0 | 0 | 0 | 1.11M | 130K | 9.03M | 17M | 34.05M | 38.1M | 41.6M |
| Revenue Growth % | -0.46% | -5.25% | -7.59% | -9.27% | 18.53% | 18.73% | -2.37% | 8.15% | 24.29% | 15.18% | -0.86% | -22.61% | -4.87% | 15.44% | 20.65% | 92.03% | - | - | - | - | - | -100% | 750.77% | -98.56% | -46.87% | -50.05% | -10.64% | -8.41% | - |
| Cost of Goods Sold | 160.31M | 167.46M | 171.7M | 188.51M | 205.3M | 178.1M | 146.21M | 149.15M | 138.18M | 116.88M | 104.5M | 101.02M | 118.24M | 125.55M | 108.61M | 89.42M | 52.18M | 1.61M | 13K | 13K | 1.43M | 334K | 186K | 0 | 5.52M | 12.46M | 12.93M | 15.9M | 15.9M |
| COGS % of Revenue | - | 66.87% | 64.96% | 65.91% | 65.12% | 66.96% | 65.27% | 65.01% | 65.14% | 68.47% | 70.52% | 67.58% | 61.22% | 61.84% | 61.76% | 61.34% | 68.74% | - | - | - | - | - | 16.82% | - | 61.15% | 73.3% | 37.98% | 41.73% | 38.22% |
| Gross Profit | 94.94M | 82.98M | 92.62M | 97.51M | 109.95M | 87.87M | 77.8M | 80.29M | 73.96M | 53.81M | 43.68M | 54.25M | 74.9M | 77.48M | 67.26M | 56.35M | 23.73M | -1.61M | -13K | -13K | -1.43M | 0 | 1.11M | 130K | 3.51M | 4.54M | 21.12M | 22.2M | 25.7M |
| Gross Margin % | 37.19% | 33.13% | 35.04% | 34.09% | 34.88% | 33.04% | 34.73% | 34.99% | 34.86% | 31.53% | 29.48% | 36.29% | 38.78% | 38.16% | 38.24% | 38.66% | 31.26% | - | - | - | - | - | 100% | 100% | 38.85% | 26.7% | 62.02% | 58.27% | 61.78% |
| Gross Profit Growth % | - | -10.41% | -5.02% | -11.32% | 25.13% | 12.96% | -3.11% | 8.56% | 37.45% | 23.18% | -19.47% | -27.57% | -3.34% | 15.2% | 19.36% | 137.45% | 1571.3% | -12307.69% | 0% | 99.09% | - | -100% | 750.77% | -96.3% | -22.7% | -78.5% | -4.88% | -13.62% | - |
| Operating Expenses | 99.95M | 109.86M | 163M | 118.62M | 216.44M | 100.58M | 73.86M | 68.86M | 65.15M | 56.3M | 49.94M | 58.5M | 67.62M | 61M | 62.59M | 51.49M | 40.1M | 5.55M | 4.87M | 4.11M | 5.31M | 3.5M | 5.22M | 5.8M | 43.57M | 114.39M | 98.45M | 37.4M | 36.7M |
| OpEx % of Revenue | - | 43.86% | 61.67% | 41.47% | 68.66% | 37.81% | 32.97% | 30.01% | 30.71% | 32.98% | 33.7% | 39.14% | 35.01% | 30.04% | 35.59% | 35.32% | 52.82% | - | - | - | - | - | 471.7% | 4463.08% | 482.24% | 672.7% | 289.17% | 98.16% | 88.22% |
| Selling, General & Admin | 98.5M | 109.86M | 115.79M | 116.37M | 120.81M | 90.66M | 71.43M | 68.68M | 55.68M | 48.31M | 49.94M | 58.5M | 56.7M | 54.28M | 51.71M | 50.49M | 31.21M | 5.21M | 4.52M | 3.77M | 3.53M | 3.5M | 3.4M | 5M | 22.21M | 49.2M | 59.71M | 25M | 17.7M |
| SG&A % of Revenue | - | 43.86% | 43.81% | 40.68% | 38.32% | 34.09% | 31.89% | 29.93% | 26.25% | 28.3% | 33.7% | 39.14% | 29.36% | 26.74% | 29.4% | 34.64% | 41.11% | - | - | - | - | - | 306.96% | 3849.23% | 245.89% | 289.35% | 175.37% | 65.62% | 42.55% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 9.47M | 7.98M | 6.6M | 7.47M | 7.33M | 6.49M | 4.24M | 2.92M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 7.26M | 16.22M | 30.61M | 9M | 16.8M |
| R&D % of Revenue | - | - | - | - | - | - | - | - | 4.46% | 4.68% | 4.45% | 5% | 3.8% | 3.2% | 2.41% | 2% | - | - | - | - | - | - | - | - | 80.4% | 95.38% | 89.92% | 23.62% | 40.38% |
| Other Operating Expenses | 582K | 0 | 47.21M | 2.25M | 95.62M | 9.91M | 2.43M | 179K | -359K | -949K | 533K | 33.83M | 3.58M | 226K | 2.35M | 993K | 8.89M | 342K | 356K | 346K | 1.78M | 275K | 1.82M | 798K | 14.09M | 48.97M | 8.13M | 3.4M | 2.2M |
| Operating Income | -5.01M | -26.88M | -70.38M | -21.11M | -106.48M | -12.7M | 3.93M | 11.43M | 8.17M | -4.82M | -5.97M | -38.08M | -9.99M | -13.66M | -382K | 4.87M | -16.37M | -5.55M | -4.87M | -4.13M | -5.31M | -3.78M | -4.11M | -5.67M | -40.06M | -109.83M | -77.34M | -15.16M | -10.96M |
| Operating Margin % | -1.96% | -10.73% | -26.63% | -7.38% | -33.78% | -4.78% | 1.76% | 4.98% | 3.85% | -2.82% | -4.03% | -25.48% | -5.17% | -6.73% | -0.22% | 3.34% | -21.56% | - | - | - | - | - | -371.7% | -4363.08% | -443.39% | -645.87% | -227.15% | -39.78% | -26.35% |
| Operating Income Growth % | - | 61.81% | -233.44% | 80.18% | -738.38% | -422.85% | -65.59% | 39.91% | 269.7% | 19.35% | 84.32% | -281.23% | 26.9% | -3477.23% | -107.85% | 129.73% | -194.79% | -13.93% | -18.1% | 22.25% | -40.43% | 8.08% | 27.52% | 85.84% | 63.53% | -42.01% | -410.21% | -38.3% | - |
| EBITDA | 3.96M | -14.5M | -56.56M | -757K | -83.53M | 3.12M | 12.8M | 19.53M | 16.47M | 444K | -2.63M | -33.8M | -2.5M | -5.39M | 5.57M | 9.55M | -13.66M | -5.21M | -4.52M | -3.77M | -4.96M | -3.44M | -3.92M | -4.62M | -25.45M | -97.62M | -69.21M | -11.76M | -8.76M |
| EBITDA Margin % | 1.55% | -5.79% | -21.4% | -0.26% | -26.5% | 1.17% | 5.72% | 8.51% | 7.76% | 0.26% | -1.78% | -22.61% | -1.29% | -2.65% | 3.17% | 6.55% | -17.99% | - | - | - | - | - | -354.88% | -3556.15% | -281.75% | -574.06% | -203.27% | -30.86% | -21.06% |
| EBITDA Growth % | 106.81% | 74.37% | -7371.73% | 99.09% | -2778.99% | -75.65% | -34.45% | 18.63% | 3608.78% | 116.88% | 92.22% | -1254.59% | 53.68% | -196.68% | -41.65% | 169.91% | -162.15% | -15.34% | -19.91% | 24.07% | -44.01% | 12.23% | 15.1% | 81.84% | 73.93% | -41.06% | -488.59% | -34.22% | - |
| D&A (Non-Cash Add-back) | 8.97M | 12.38M | 13.82M | 20.35M | 22.95M | 15.82M | 8.87M | 8.1M | 8.3M | 5.26M | 3.34M | 4.28M | 7.49M | 8.28M | 5.95M | 4.68M | 2.71M | 342K | 356K | 359K | 346K | 334K | 186K | 1.05M | 14.6M | 12.21M | 8.13M | 3.4M | 2.2M |
| EBIT | -37.82M | -57.09M | -23.17M | -18.86M | -10.86M | -2.79M | 4.85M | 11.34M | 9.86M | -4.47M | -5.44M | -37.65M | -10.06M | -13.44M | -1.86M | 5.09M | -17.32M | -4.85M | -2.4M | 120K | -1.29M | -1.29M | -4.11M | -5.67M | -40.06M | -109.83M | -77.34M | -15.16M | -10.96M |
| Net Interest Income | 101K | 619K | 1.47M | 67K | -7.89M | -2.94M | -1.26M | -1.36M | -1.34M | -1.29M | -2.88M | -2.77M | -2.56M | -2.38M | -2.96M | -2.89M | -1.68M | 0 | 0 | 0 | 0 | 0 | 0 | 1.24M | 0 | 0 | 10.9M | 0 | 0 |
| Interest Income | 101K | 619K | 1.47M | 67K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 35K | 32K | 46K | 701K | 2.47M | 4.24M | 4.02M | 2.49M | 0 | 1.24M | 0 | 0 | 10.9M | 0 | 0 |
| Interest Expense | 0 | 0 | 0 | 0 | 7.89M | 2.94M | 1.26M | 1.36M | 1.34M | 1.29M | 2.88M | 2.77M | 2.56M | 2.38M | 2.99M | 2.92M | 1.72M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | -27.55M | -30.21M | -206K | 1.03M | -1.03M | -4.41M | -349K | -1.45M | -1.7M | -945K | -2.34M | -2.33M | -2.75M | -3.25M | -2.09M | -2.66M | -2.67M | 701K | 2.47M | 4.23M | 4.02M | -2K | -414K | 133K | 541K | -53.12M | -3.86M | 9.36M | 560K |
| Pretax Income | -32.57M | -57.09M | -70.58M | -20.08M | -107.52M | -17.11M | 3.58M | 9.98M | 6.47M | -5.76M | -8.31M | -40.41M | -12.74M | -7.94M | 88K | 2.2M | -19.04M | -4.85M | -2.4M | 120K | -1.29M | -3.78M | -4.09M | -5.54M | -39.52M | -162.95M | -81.2M | -5.8M | -10.4M |
| Pretax Margin % | -12.76% | -22.8% | -26.7% | -7.02% | -34.11% | -6.43% | 1.6% | 4.35% | 3.05% | -3.37% | -5.61% | -27.04% | -6.6% | -3.91% | 0.05% | 1.51% | -25.08% | - | - | - | - | - | -369.98% | -4260.77% | -437.4% | -958.26% | -238.5% | -15.22% | -25% |
| Income Tax | -5.99M | -10.53M | 17.85M | -4.29M | -14.72M | -19.23M | -1.96M | -8.99M | -828K | -5.09M | 665K | 47.69M | -3.55M | -2.07M | -1.86M | -2.69M | -70.23M | -6K | 3K | 3K | 0 | -2.49M | -1.22M | -1.34M | -2.24M | 10M | -6.69M | -9.8M | 300K |
| Effective Tax Rate % | 18.38% | 18.45% | -25.29% | 21.37% | 13.69% | 112.41% | -54.67% | -90.08% | -12.79% | 88.32% | -8% | -118.01% | 27.87% | 26.1% | -2118.18% | -121.96% | 368.87% | 0.12% | -0.12% | 2.5% | 0% | 65.8% | 29.86% | 24.21% | 5.68% | -6.14% | 8.24% | 168.97% | -2.88% |
| Net Income | -26.58M | -46.56M | -52.29M | -10.15M | -69.78M | 26.09M | 5.54M | 18.97M | 7.3M | -673K | -8.98M | -77.54M | 14.01M | -5.87M | 1.95M | 4.89M | 51.19M | -4.84M | -2.4M | 117K | -1.29M | -1.29M | -2.89M | -4.33M | -37.81M | -119.85M | -70.65M | -5.4M | -10.7M |
| Net Margin % | -10.41% | -18.59% | -19.78% | -3.55% | -22.13% | 9.81% | 2.48% | 8.27% | 3.44% | -0.39% | -6.06% | -51.87% | 7.25% | -2.89% | 1.11% | 3.36% | 67.43% | - | - | - | - | - | -261.21% | -3331.54% | -418.56% | -704.82% | -207.5% | -14.17% | -25.72% |
| Net Income Growth % | 67.11% | 10.96% | -415.35% | 85.46% | -367.43% | 370.57% | -70.77% | 159.85% | 1184.84% | 92.5% | 88.42% | -653.59% | 338.62% | -400.72% | -60.1% | -90.44% | 1156.55% | -101.71% | -2152.99% | 109.06% | 0% | 55.31% | 33.29% | 88.55% | 68.45% | -69.65% | -1208.28% | 49.53% | - |
| Net Income (Continuing) | -26.58M | -46.56M | -88.44M | -15.79M | -92.8M | 2.12M | 5.54M | 18.97M | 7.3M | -673K | -8.98M | -88.11M | -9.19M | -10.68M | 1.95M | 4.89M | 51.19M | -4.84M | -2.4M | 117K | -1.29M | -1.29M | -2.89M | -4.33M | -37.81M | -119.85M | -70.65M | -5.4M | -10.7M |
| Discontinued Operations | 0 | 0 | 36.15M | 5.64M | 23.02M | 23.97M | 0 | 0 | 0 | 0 | 0 | 10.56M | 23.63M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.69 | -1.21 | -1.37 | -0.27 | -1.88 | 0.73 | 0.18 | 0.61 | 0.24 | -0.02 | -0.30 | -2.32 | 0.43 | -0.18 | 0.07 | 0.22 | 2.55 | -0.29 | -0.14 | 0.01 | -0.08 | -0.08 | -0.18 | -0.27 | -2.41 | -7.68 | -4.88 | -0.49 | -1.26 |
| EPS Growth % | 67.33% | 11.68% | -407.41% | 85.64% | -357.53% | 305.56% | -70.49% | 154.17% | 1176.23% | 92.57% | 87.07% | -639.53% | 338.89% | -358.25% | -68.32% | -91.37% | 979.31% | -107.14% | - | 108.79% | 1.65% | 56.28% | 33.33% | 88.8% | 68.62% | -57.38% | -895.92% | 61.11% | - |
| EPS (Basic) | - | -1.21 | -1.37 | -0.27 | -1.88 | 0.79 | 0.18 | 0.63 | 0.24 | -0.02 | -0.30 | -2.32 | 0.43 | -0.18 | 0.07 | 0.22 | 2.57 | -0.29 | -0.14 | 0.01 | -0.08 | -0.08 | -0.18 | -0.27 | -2.41 | -7.68 | -4.88 | -0.49 | -0.98 |
| Diluted Shares Outstanding | 38.3M | 38.39M | 38.3M | 37.48M | 37.2M | 35.69M | 31.23M | 31.13M | 30.25M | 30.16M | 30.53M | 32.74M | 32.71M | 32.15M | 29.95M | 22.14M | 20.11M | 16.94M | 16.94M | 17.13M | 16.69M | 16.4M | 16.16M | 15.98M | 15.68M | 15.6M | 14.48M | 11.07M | 8.5M |
| Basic Shares Outstanding | 38.29M | 38.39M | 38.3M | 37.48M | 27.97M | 33.14M | 30.81M | 29.95M | 30.25M | 30.16M | 30.53M | 32.74M | 32.71M | 32.15M | 28.83M | 21.94M | 19.9M | 16.94M | 16.94M | 16.73M | 16.69M | 16.4M | 16.16M | 15.98M | 15.68M | 15.6M | 14.48M | 11.07M | 10.88M |
| Dividend Payout Ratio | - | - | - | - | - | 12.78% | 27.41% | 15.74% | 20.38% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Quick answers to the most common questions about buying CLAR stock.
For fiscal year 2025, Clarus Corporation (CLAR) reported total revenue of $250.4M. This represents a 502.0% increase compared to $41.6M in 1998.
Clarus Corporation (CLAR) reported a net loss of $46.6M for the fiscal year ending 2025.
Clarus Corporation (CLAR) reported an operating income of $-26.9M, resulting in an operating profit margin of -10.7%. This margin reflects the operational efficiency of the business before interest and taxes.
Clarus Corporation (CLAR) generated $83.0M in gross profit for the year, representing a gross profit margin of 33.1%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Sustained operating losses and margin volatility
Metrics are mathematically derived from official filings.
Revenue Stabilizing After Volatile Declines
According to reported quarterly figures, Clarus's revenue fell from $71.4M in 2024Q4 to $56.2M in 2026Q2, with year-over-year growth turning positive at 1.6% in the latest quarter after a string of contractions.
The reported figures suggest revenue has been choppy rather than trending, with year-over-year changes swinging between sharp declines and single-digit gains. The latest quarter's modest positive growth may indicate stabilization, but a single quarter is insufficient to establish durability, and investors should monitor whether volume or pricing is driving the recovery.
Gross Margin Recovery Lacks Consistency
Based on reported figures, gross margin moved from 23.5% in 2025Q4 to 48.9% in 2026Q2, a swing that far exceeds the 33% to 36% band that characterized most of the prior eight quarters.
The jump to 48.9% gross margin is well above the company's historical range and sits near the 50% level of Columbia Sportswear, which may indicate favorable mix or cost normalization. However, the abrupt move from 23.5% to 48.9% within two quarters raises questions about whether the improvement reflects structural pricing power or one-time items that warrant further investigation.
Operating Losses Persist Despite Revenue Base
As reported in financial statements, Clarus recorded operating losses in nine of the last ten quarters, with SG&A running at roughly $22M to $31M per quarter against gross profit that has rarely exceeded $25M.
SG&A has consumed most or all of gross profit in the majority of periods, indicating the cost base has not scaled down in line with revenue declines. The latest quarter's operating income of $4.6M suggests some operating leverage is emerging, but it remains a single positive data point against a long history of losses.
Net Income Distorted by Non-Operating Swings
Based on EDBL-style reporting logic applied here, Clarus's net income swung from a $65.5M loss in 2024Q4 to a $21.9M profit in 2024Q1, indicating that non-operating items materially outweigh operating results in the bottom line.
Net income diverges sharply from operating income in several periods, such as 2025Q4 where a $6.8M operating loss became a $31.3M net loss, suggesting significant non-operating charges or tax effects. Stock-based compensation of roughly $1.2M to $1.6M per quarter is modest, so it does not explain these gaps, and the reported EPS trajectory should be read with caution.
Margin Spike May Not Be Repeatable
The strongest challenge is that the 48.9% gross margin in 2026Q2 sits far above the company's own history and peers like Smith & Wesson at 26.9%, potentially reflecting a temporary condition rather than a durable shift.
If the latest margin reflects inventory timing, one-off pricing, or mix shifts, reversion toward the 33% to 36% historical band would push operating income back into losses, consistent with the recent pattern. Given persistent SG&A levels, short-sellers would likely argue the company remains structurally unprofitable until several consecutive quarters of positive operating income are demonstrated.