Revenue growth remains inconsistent with a 2.5% increase in 2026Q1, while the company continues to struggle with profitability, evidenced by a -9.8% operating margin in the same period.
| 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 | 252.46M | 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 % | -1.16% | -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 | 170.14M | 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 | 82.32M | 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 % | 32.61% | 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 | 109.16M | 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 | 104.83M | 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 | 2.24M | 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 | -26.83M | -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 % | -10.63% | -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 | -17.56M | -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 % | -6.96% | -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 % | 69.15% | 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) | 9.27M | 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 | -25.84M | -26.88M | -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 | 362K | 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 | 362K | 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 | -27.28M | -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 | -54.12M | -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 % | -21.43% | -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 | -9.51M | -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 % | 17.57% | 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 | -44.61M | -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 % | -17.67% | -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 % | 43.83% | 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) | -44.61M | -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) | -1.16 | -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 % | 43.92% | 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 | 38.41M | 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 | 38.41M | 38.39M | 38.3M | 37.48M | 27.97M | 33.14M | 30.81M | 29.95M | 30.42M | 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% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Persistent negative operating margins
According to quarterly financial data, Clarus Corporation has experienced inconsistent top-line performance, with revenue fluctuating between $55.2M and $71.4M over the last two years, reflecting the challenges of post-divestiture normalization and the inherent seasonality of its remaining outdoor and adventure-focused product segments.
The revenue trajectory appears heavily influenced by the transition away from the Precision Sport segment, which complicates year-over-year comparisons. Investors should monitor whether the recent 2.5% growth in 2026Q1 signals a sustainable stabilization or merely a temporary recovery from the significant contraction observed in late 2023.
As reported in recent income statements, the company's gross margin has struggled to maintain consistency, dipping to a low of 23.5% in 2025Q4, which suggests that promotional activity or elevated supply chain costs are currently hindering the brand's ability to command premium pricing.
The inability to sustain gross margins above the 35% level consistently indicates that the company may be facing significant pricing pressure or inventory clearance challenges. This margin profile appears weak compared to peers like YETI, suggesting that the current product mix may lack the necessary differentiation to offset rising input costs.
Based on the provided income statement data, Clarus has failed to achieve positive operating income in nine of the last ten quarters, with operating margins reaching as low as -70.2% in 2024Q4, indicating a persistent inability to scale revenue efficiently against fixed overhead costs.
The persistent negative operating income suggests that the company's SG&A structure is currently misaligned with its reduced revenue base. Without a significant reduction in fixed costs or a meaningful acceleration in high-margin sales, the company may continue to struggle with operational deleveraging.
Analysis of the reported figures reveals that net income is frequently distorted by non-operating items and divestiture-related charges, as evidenced by the extreme swing from a $21.9M profit in 2024Q1 to a $65.5M loss in 2024Q4, complicating the assessment of core operational profitability.
The frequent reliance on non-operating adjustments to reconcile net income warrants further investigation into the sustainability of the company's bottom line. Investors should be cautious of the impact of stock-based compensation, which remains a consistent expense despite the lack of positive net income, potentially diluting shareholder value.
While management frames the current period as a strategic pivot, the financial data suggests that the core business is struggling to find a bottom, with persistent operating losses and inventory management issues that may indicate deeper structural challenges than a simple portfolio realignment.
Short-sellers may focus on the company's inability to generate positive cash flow from operations, which raises concerns about the long-term viability of the current business model. The lack of clear evidence that the Adventure segment can achieve the necessary scale to offset the loss of the Precision Sport segment suggests that the turnaround may be more difficult than anticipated.
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.