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CLAR

Clarus Corporation

CLAR

Clarus Corporation • NASDAQ
$3.58 ▲ 0.00% (+0.00)
Market Cap $137.48 M
52w High $5.29
52w Low $3.02
Dividend Yield 0.07%
P/E -1.54
Volume 41.62K
Outstanding Shares 38.40M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $69.347M ▲ $27.392M ▼ $-1.617M ▲ -2.332% ▲ $-0.04 ▲ $-818K ▲
Q2-2025 $55.247M ▼ $30.581M ▲ $-8.434M ▼ -15.266% ▼ $-0.22 ▼ $-5.977M ▼
Q1-2025 $60.433M ▼ $27.556M ▼ $-5.244M ▲ -8.677% ▲ $-0.14 ▲ $-3.34M ▼
Q4-2024 $71.405M ▲ $73.975M ▲ $-65.521M ▼ -91.76% ▼ $-1.71 ▼ $-503K ▲
Q3-2024 $67.115M $28.855M $-3.157M -4.704% $-0.082 $-1.381M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $29.508M ▲ $283.07M ▼ $57.265M ▼ $225.805M ▲
Q2-2025 $28.474M ▼ $286.51M ▼ $61.39M ▼ $225.12M ▼
Q1-2025 $41.315M ▼ $292.837M ▼ $63.547M ▲ $229.29M ▼
Q4-2024 $45.359M ▲ $294.094M ▼ $61.001M ▼ $233.093M ▼
Q3-2024 $36.399M $375.338M $66.864M $308.474M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-1.617M ▲ $-5.737M ▲ $6.614M ▲ $-960K ▲ $78K ▲ $-6.952M ▲
Q2-2025 $-8.434M ▼ $-9.424M ▼ $-1.809M ▼ $-961K ▲ $-11.885M ▼ $-11.287M ▼
Q1-2025 $-5.244M ▲ $-2.073M ▼ $-1.181M ▲ $-1.001M ▼ $-4.044M ▼ $-3.254M ▼
Q4-2024 $-65.521M ▼ $16.57M ▲ $-5.984M ▼ $-958K ▼ $8.96M ▲ $14.356M ▲
Q3-2024 $-3.157M $-8.343M $-1.018M $-679K $-9.822M $-9.393M

Revenue by Products

Product Q3-2024Q1-2025Q2-2025Q3-2025
Adventure Segment
Adventure Segment
 $0 ▲$20.00M ▲$20.00M ▲$20.00M ▲
Outdoor Segment
Outdoor Segment
 $0 ▲$40.00M ▲$40.00M ▲$50.00M ▲
Domestic Sales Revenue
Domestic Sales Revenue
 $20.00M ▲$0 ▼$0 ▲$0 ▲
International Sales Revenue
International Sales Revenue
 $40.00M ▲$0 ▼$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Clarus’s sales grew steadily coming out of 2020 but have slipped in the last couple of years, reflecting a tougher demand backdrop and portfolio reshaping. Gross profit has held up reasonably well in absolute terms, yet the company has struggled to turn that into consistent operating profit. Operating income has been negative for several years, and bottom‑line results have swung from modest profits earlier in the period to clear losses more recently. That points to pressure from higher costs, softer volumes, or both, and suggests the business is still working to right‑size its cost base and restore profitability after acquisitions and divestitures.

Balance Sheet

Balance Sheet The balance sheet today looks cleaner and simpler than a few years ago. Total assets swelled during the acquisition phase and then stepped down as Clarus sold its precision sport businesses and refocused on outdoor and adventure. Debt, which had climbed to support expansion, has been reduced dramatically and is now low relative to the company’s size, easing financial risk. Equity remains solid, though not at prior peak levels, indicating that despite recent losses, the company still has a meaningful capital cushion. Overall, Clarus now looks less leveraged and better positioned to absorb cyclical swings in its end markets.

Cash Flow

Cash Flow Cash generation has been mixed but generally close to break‑even over this period. Operating cash flow has hovered around flat, with some years slightly positive and others slightly negative, which means the core business has not yet shown a strong, reliable cash engine. Free cash flow follows the same pattern, as capital spending has been modest and fairly steady. The company is not over‑investing, but it also isn’t yet consistently producing surplus cash from operations, so execution on its streamlined strategy will be important to strengthen cash flow resilience.

Competitive Edge

Competitive Edge Clarus competes in enthusiast‑driven outdoor and adventure niches where brand trust and technical performance matter more than rock‑bottom pricing. Its key brands—such as Black Diamond in climbing and backcountry skiing, Rhino‑Rack in roof racks, and Maxtrax in vehicle recovery—hold respected positions with dedicated followings. These “super fan” customers tend to be loyal and willing to pay for quality, which can support pricing power and create a moat against generic competitors. At the same time, the company is exposed to discretionary spending cycles and must continually defend share against both premium peers and lower‑cost alternatives, especially as new entrants try to tap into the booming overlanding and outdoor lifestyle trends.

Innovation and R&D

Innovation and R&D Innovation is a central part of Clarus’s identity. Black Diamond regularly refreshes its hardware, safety gear, and apparel with new designs and materials, while Rhino‑Rack and Maxtrax focus on modular, rugged systems tailored to serious outdoor users. The company aims to bring new products from idea to market over a period of a couple of years, keeping its line‑up fresh and technically differentiated. Recent moves—like selling non‑core ballistics brands and acquiring TRED Outdoors and RockyMounts—show a push to concentrate R&D and product development on a cohesive outdoor and adventure platform. The main risk is execution: Clarus must integrate these brands smoothly and ensure that engineering talent, product roadmaps, and marketing all support a coherent, premium positioning worldwide.

Summary

Clarus is in the middle of a strategic transition from a more diversified portfolio to a focused outdoor and adventure platform built around “super fan” brands. Financially, the company has cleaned up its balance sheet and sharply lowered leverage, but profitability has been inconsistent and recent years show clear losses and only modest, uneven cash generation. Competitively, Clarus benefits from strong brand equity, technical products, and loyal niche communities, which can be powerful advantages if demand in climbing, overlanding, and backcountry activities remains healthy. The key questions going forward are whether management can translate this brand and innovation strength into steadier earnings and cash flow, successfully integrate recent acquisitions, and navigate the inherent cyclicality of discretionary outdoor spending without slipping back into heavy leverage or prolonged losses.

NEWS

October 23, 2025 · 4:15 PM UTC

Clarus Sets Third Quarter 2025 Conference Call for Thursday, November 6, 2025, at 5:00 p.m. ET

Read more