Clarus Q4 2022 Earnings Report
Key Takeaways
Clarus Corporation reported a decrease in sales for Q4 2022 compared to the same period last year, with sales of $104.2 million. The company faced challenges due to macroeconomic headwinds, but saw growth in Precision Sports and certain international markets. They focused on expense reductions, free cash flow generation, and debt reduction, generating $30 million in free cash flow during the quarter. Net loss was $81.6 million, or $(2.20) per diluted share, including a non-cash impairment charge of $92.3 million.
Sales were $104.2 million, compared to $118.2 million in the same year-ago quarter.
Precision Sport sales increased 10%, while Adventure segment sales decreased due to lower consumer demand.
Net loss was $81.6 million, including a non-cash impairment charge of $92.3 million in the Adventure segment.
Adjusted EBITDA was $10.6 million, compared to $20.0 million in the same year-ago quarter.
Clarus
Clarus
Clarus Revenue by Segment
Forward Guidance
The Company expects fiscal year 2023 sales of approximately $420 million and adjusted EBITDA of approximately $60 million, or an adjusted EBITDA margin of 14.3%.