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Yahoo
4 hours ago
- Business
- Yahoo
Cineverse Corp (CNVS) Q4 2025 Earnings Call Highlights: Record Revenue Growth and Strategic ...
Q4 Revenue: $15.6 million, a 58% increase over the prior year. Q4 Net Income: $858,000, a $15.5 million increase over the prior year. Q4 Adjusted EBITDA: $4 million, a 158% increase over the prior year quarter. Q4 Direct Operating Margin: 55%, above the target range of 45% to 50%. Full-Year Revenue: $78.2 million, a 59% increase over the prior year. Full-Year Net Income: $3.8 million. Full-Year Adjusted EBITDA: $13.9 million, a 216% increase over the prior year. SG&A Expenses: $5.4 million for the quarter, a decrease of $1.4 million from the prior year quarter. Cash and Cash Equivalents: $13.9 million as of March 31, 2025. Net Cash Provided by Operations: $18.5 million for the year, a $29.1 million improvement over the prior year. Streaming Engagement: 3.2 billion minutes streamed in Q4, up 45% over the prior year. Podcast Revenue Growth: 57% increase over the prior year. c360 Revenue Growth: 290% year-over-year increase in Q4. Warning! GuruFocus has detected 7 Warning Signs with CNVS. Release Date: June 27, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Cineverse Corp (NASDAQ:CNVS) reported a 58% increase in total revenue for the fourth quarter, reaching $15.6 million, and a 59% increase for the full fiscal year, totaling $78.2 million. The company achieved a significant improvement in net income, with a $15.5 million increase over the prior year, resulting in a net income of $858,000 for the quarter. Adjusted EBITDA for the quarter was $4 million, marking a 158% increase over the prior year, showcasing strong financial performance. Cineverse Corp (NASDAQ:CNVS) successfully launched new initiatives, including the reorganization of its technology business and the creation of a dedicated theatrical motion pictures division. The company reported strong growth in its streaming and podcasting businesses, with podcast revenues up 57% over the prior year and streaming platforms delivering a 45% increase in minutes streamed. The company faces challenges in the advertising environment, with a depressed direct and programmatic advertising market due to companies pulling back on discretionary advertising spend. Despite strong financial performance, the company acknowledges the pressure on CPMs and fill rates for open market programmatic advertising due to a glut of supply in competitive channels. Cineverse Corp (NASDAQ:CNVS) is still in the early stages of expanding its Matchpoint technology to major studios, with the need to prove its capabilities through pilots and commercial trials. The company is navigating a competitive landscape in the podcasting space, requiring strategic investments in direct sales and content expansion to maintain growth momentum. There is a reliance on the success of upcoming film releases to drive future revenue, with significant investments in new films like The Toxic Avenger and Silent Night, Deadly Night. Q: Chris, with the upcoming wide releases, how much more are you willing to invest if you see early signs of success? Also, how do you view pay windows and licensing opportunities for the licenses you own? A: Christopher McGurk, Chairman and CEO: As we continue to fill out our slate, our objective is to set up a pay output deal, and we've started discussions in that regard. We'll be announcing more films similar to those in our current release slate and expanding into family films, fantasy, Black Cinema, and comedy. Once these pieces are in place, we'll get serious about negotiating a pay deal. Q: How should investors think about cineSearch and Matchpoint in terms of pipeline opportunities and potential impact on results? A: Erick Opeka, President and Chief Strategy Officer: We're now focused on enterprise-level opportunities rather than smaller entities. Tony Huidor, President of Technology and Chief Product Officer, added that each major studio deal could be $5 million and up, depending on the scope. The current pilot with a major studio could expand significantly, and we expect a strong foothold in the business within a few years. Q: Can you provide more details on the monetization of podcasting and the impact of direct sponsorships? A: Erick Opeka, President and Chief Strategy Officer: Podcasts offer premium content, leading to higher CPMs than CTV. We're focusing on shows with significant listener bases and have hired a direct sales team. Deals with larger brands can reach below six figures, and we expect to double our podcast revenue compared to last year, depending on macro conditions. Q: How do you view the profitability and operating margins, especially with successful wide releases? A: Christopher McGurk, Chairman and CEO: We achieved a 55% operating margin last quarter, and we feel confident in meeting or exceeding our target of 45% to 50% going forward. Mark Lindsey, CFO, noted that the margin last quarter was 49%. Q: What is the strategy for expanding the theatrical slate and securing output deals? A: Christopher McGurk, Chairman and CEO: We plan to announce more films similar to our current slate and expand into other genres. Once our release slate is complete, we'll focus on negotiating a pay output deal, leveraging our unique media assets and releasing formula. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Yahoo
a day ago
- Business
- Yahoo
Apogee Enterprises Reports Fiscal 2026 First Quarter Results
Net sales increased 4.6% to $346.6 million EBITDA margin of 5.4% and adjusted EBITDA margin of 9.9% Diluted loss per share of $0.13 and adjusted diluted earnings per share of $0.56 Raises fiscal year net sales and adjusted diluted EPS outlook MINNEAPOLIS, June 27, 2025--(BUSINESS WIRE)--Apogee Enterprises, Inc. (Nasdaq: APOG), a leading provider of architectural building products and services, as well as high-performance coated materials used in a variety of applications, today reported its results for the first quarter of fiscal 2026, ended May 31, 2025. The Company reported the following selected financial results: (Unaudited, $ in thousands, except per share amounts) Three Months Ended May 31, 2025 June 1, 2024 % Change Net sales $ 346,622 $ 331,516 4.6% Net (loss) earnings $ (2,688 ) $ 31,011 (108.7)% Diluted (loss) earnings per share $ (0.13 ) $ 1.41 (109.2)% Additional Non-GAAP Measures1 Adjusted EBITDA $ 34,384 $ 52,622 (34.7)% Adjusted EBITDA margin 9.9 % 15.9 % Adjusted diluted earnings per share $ 0.56 $ 1.44 (61.1)% Ty R. Silberhorn, Apogee's Chief Executive Officer, stated: "We are pleased to deliver results ahead of our expectations in the first quarter amid challenging market conditions and year-over-year headwinds. We are also raising our fiscal year outlook for net sales and adjusted diluted EPS as we build momentum for what we expect will be a stronger second half of the year." Mr. Silberhorn continued, "Although tariffs adversely impacted our first quarter results, we continue to execute our mitigation plans and barring any material change to tariff policies, we expect to be able to substantially mitigate the impact of tariffs on the second half of the fiscal year." Mr. Silberhorn concluded, "We also continue to be excited about the opportunities to build a platform for growth in our Performance Surfaces segment. Our recent investments in additional capacity, and the acquisition of UW Solutions, expand our market reach and broaden our product offerings. We are executing a structured integration plan to bring out the best in both businesses. We are encouraged by the early results of the acquisition, and they demonstrate how we can use our balance sheet to acquire assets to set us up for future growth." Consolidated Results (First Quarter Fiscal 2026 compared to First Quarter Fiscal 2025) Net sales increased 4.6% to $346.6 million, primarily driven by $22.0 million of inorganic sales from the acquisition of UW Solutions. Growth from inorganic sales was partially offset by lower volume in Architectural Glass and a less favorable mix in Architectural Metals. Gross margin decreased to 21.7% from 29.8% primarily due to restructuring charges of $6.9 million, a less favorable mix and higher aluminum costs in Architectural Metals, and higher tariff expense in Architectural Services. Selling, general and administrative (SG&A) expense as a percent of net sales increased 240 basis points to 19.7%, primarily due to restructuring charges of $8.4 million and increased amortization expense associated with the UW Solutions transaction, partially offset by lower long-term incentive expense. Operating income decreased to $6.9 million, primarily driven by restructuring charges related to Project Fortify Phase 2 of $15.3 million, a less favorable mix and higher aluminum costs in Architectural Metals, higher tariff expense in Architectural Services, and increased amortization expense associated with the UW Solutions transaction, partially offset by lower long-term incentive expense. Adjusted EBITDA decreased to $34.4 million and adjusted EBITDA margin decreased to 9.9%. The decrease in adjusted EBITDA margin was primarily driven by a less favorable mix and higher aluminum costs in Architectural Metals, as well as higher tariff expense in Architectural Services, partially offset by lower long-term incentive expense. Net interest expense increased to $3.8 million, primarily due to increased debt resulting from the acquisition of UW Solutions. Income tax expense decreased to $5.1 million, primarily driven by lower earnings before taxes. Net income decreased from net earnings of $31.0 million to a net loss of $2.7 million. Diluted loss per share was $0.13. Adjusted diluted EPS was $0.56, primarily driven by lower adjusted operating income. Segment Results (First Quarter Fiscal 2026 Compared to First Quarter Fiscal 2025) Architectural Metals Architectural Metals net sales were $128.6 million, compared to $133.2 million, primarily reflecting a less favorable mix, partially offset by higher volume. Adjusted EBITDA was $9.4 million, or 7.3% of net sales, compared to $23.8 million, or 17.9% of net sales. The lower adjusted EBITDA margin was primarily driven by a less favorable mix, higher aluminum costs, unfavorable productivity, and unfavorable sales leverage, partially offset by the impact from higher volume. Architectural Services Architectural Services net sales were $106.5 million compared to $99.0 million, primarily due to increased volume. Adjusted EBITDA was $6.1 million, or 5.7% of net sales, compared to $6.6 million, or 6.6% of net sales. The decrease in adjusted EBITDA margin was primarily driven by the impact of higher tariff expense, partially offset by a more favorable mix of projects and favorable sales leverage. Segment backlog2 at the end of the quarter was $682.9 million, compared to $720.3 million at the end of the fourth quarter. Architectural Glass Architectural Glass net sales were $73.3 million, compared to $86.7 million, primarily reflecting reduced volume due to lower end-market demand. Adjusted EBITDA was $13.4 million, or 18.3% of net sales, compared to $20.2 million, or 23.3% of net sales. The lower adjusted EBITDA margin was primarily driven by unfavorable sales leverage. Performance Surfaces Performance Surfaces net sales were $42.3 million, compared to $21.2 million. Net sales included $22.0 million of inorganic sales contribution from the acquisition of UW Solutions. Adjusted EBITDA was $8.0 million, or 18.8% of net sales compared to $5.6 million, or 26.6% of net sales. The lower adjusted EBITDA margin was primarily driven by the dilutive impact of lower adjusted EBITDA margin from UW Solutions, unfavorable mix, and increased corporate allocations expense. Corporate and Other Corporate and other adjusted EBITDA expense was $2.4 million, compared to $3.7 million, primarily driven by lower long-term incentive expense. Financial Condition Net cash used in operating activities was $19.8 million, compared to $5.5 million net cash provided by operating activities in the prior year period. The change was primarily driven by lower net earnings and an increase in cash used for working capital including a net payment of $13.7 million for the settlement of an arbitration award. Net cash used by investing activities was $7.0 million, primarily related to capital expenditures. The Company returned $5.5 million of cash to shareholders through dividend payments. Quarter-end long-term debt increased to $311 million, which increased the Consolidated Leverage Ratio3 (as defined in the Company's credit agreement) to 1.6x at the end of the quarter. Project Fortify As previously announced, in the first quarter of fiscal 2026, the Company began the second phase of Project Fortify (referred to as "Project Fortify Phase 2" or "Phase 2") to drive further cost efficiencies, primarily in the Architectural Services and Architectural Metals Segments. Phase 2 will further optimize the manufacturing footprint and align resources to enable a more effective operating model. The Company continues to expect the actions of Phase 2 to incur a total of approximately $24 million to $26 million in pre-tax charges, and deliver estimated annualized pre-tax cost savings of approximately $13 million to $15 million. During the first quarter, the Company incurred $15.3 million of pre-tax costs associated with Phase 2. The Company expects the actions associated with Phase 2 to be substantially completed by the end of the fourth quarter of fiscal 2026. Fiscal 2026 Outlook The Company is raising its outlook for the fiscal year for both net sales and diluted EPS. The Company now expects net sales in the range of $1.40 billion to $1.44 billion (previously $1.37 billion to $1.43 billion), diluted EPS in the range of $2.59 to $3.12 (previously $2.54 to $3.19) and adjusted diluted EPS in the range of $3.80 to $4.20 (previously $3.55 to $4.10). This includes a projected unfavorable EPS impact from tariffs of $0.35 to $0.45, which will mostly impact the first half of the fiscal year before mitigation efforts take full effect. The Company's revised outlook assumes an effective tax rate of 33% and an adjusted effective tax rate of approximately 27.5%. The Company continues to assume capital expenditures between $35 million to $40 million. Conference Call Information The Company will host a conference call today at 8:00 a.m. Central Time to discuss this earnings release. This call will be webcast and is available in the Investor Relations section of the Company's website, along with presentation slides, at A replay and transcript of the webcast will be available on the Company's website following the conference call. About Apogee Enterprises Apogee Enterprises, Inc. (Nasdaq: APOG) is a leading provider of architectural building products and services, as well as high-performance coated materials used in a variety of applications. Headquartered in Minneapolis, MN, our portfolio of industry-leading products and services includes architectural glass, windows, curtainwall, storefront and entrance systems, integrated project management and installation services, and high-performance coatings that provide protection, innovative design, and enhanced performance. For more information, visit Use of Non-GAAP Financial Measures Management uses non-GAAP measures to evaluate the Company's historical and prospective financial performance, measure operational profitability on a consistent basis, as a factor in determining executive compensation, and to provide enhanced transparency to the investment community. Non-GAAP measures should be viewed in addition to, and not as a substitute for, the reported financial results of the Company prepared in accordance with GAAP. Other companies may calculate these measures differently, limiting the usefulness of the measures for comparison with other companies. This release and other financial communications may contain the following non-GAAP measures: Adjusted net earnings, adjusted diluted EPS, and adjusted EBITDA are used by the Company to provide meaningful supplemental information about its operating performance by excluding amounts that are not considered part of core operating results to enhance comparability of results from period to period. Adjusted EBITDA represents adjusted net earnings before interest, taxes, depreciation, and amortization. We use adjusted EBITDA to assess segment performance and make decisions about the allocation of operating and capital resources by analyzing recent results, trends, and variances of each segment in relation to forecasts and historical performance. Consolidated Leverage Ratio is calculated as Consolidated Funded Indebtedness minus Unrestricted Cash at the end of the current period, divided by Consolidated EBITDA (calculated as EBITDA plus certain non-cash charges and allowed addbacks, less certain non-cash income, plus the pro forma effect of acquisitions and certain pro forma run-rate cost savings for acquisitions and dispositions, as applicable for the trailing twelve months ended as of the current period). All capitalized and undefined terms used in this bullet are defined in the Company's credit agreement dated July 19, 2024. The Company is unable to present a quantitative reconciliation of forward-looking expected Consolidated Leverage Ratio to its most directly comparable forward-looking GAAP financial measure because such information is not available, and management cannot reliably predict all the necessary components of such GAAP financial measure without unreasonable effort or expense. In addition, the Company believes such reconciliation would imply a degree of precision that would be confusing or misleading to investors. Backlog is an operating measure used by management to assess future potential sales revenue. Backlog is defined as the dollar amount of signed contracts or firm orders, generally as a result of a competitive bidding process, which is expected to be recognized as revenue. It is most meaningful for the Architectural Services segment, due to the longer-term nature of their projects. Backlog is not a term defined under U.S. GAAP and is not a measure of contract profitability. Backlog should not be used as the sole indicator of future revenue because the Company has a substantial number of projects with short lead times that book-and-bill within the same reporting period that are not included in backlog. Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. The words "may," "believe," "expect," "anticipate," "intend," "estimate," "forecast," "project," "should," "will," "continue," and similar expressions are intended to identify "forward-looking statements". These statements reflect Apogee management's expectations or beliefs as of the date of this release. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. All forward-looking statements are qualified by factors that may affect the results, performance, financial condition, prospects and opportunities of the Company, including the following: (A) North American and global economic conditions, including the cyclical nature of the North American and Latin American non-residential construction industries and the potential impact of an economic downturn or recession; (B) U.S. and global instability and uncertainty arising from events outside of our control; (C) actions of new and existing competitors; (D) departure of key personnel and ability to source sufficient labor; (E) product performance, reliability and quality issues; (F) project management and installation issues that could affect the profitability of individual contracts; (G) dependence on a relatively small number of customers in one operating segment; (H) financial and operating results that could differ from market expectations; (I) self-insurance risk related to a material product liability or other events for which the Company is liable; (J) maintaining our information technology systems and potential cybersecurity threats; (K) cost of regulatory compliance, including environmental regulations; (L) supply chain disruptions, including fluctuations in the availability and cost of materials used in our products and the impact of trade policies and regulations, including existing and potential future tariffs; (M) integration and future operating results of acquisitions, including but not limited to the acquisition of UW Solutions, and management of acquired contracts; (N) impairment of goodwill or indefinite-lived intangible assets; (O) our ability to successfully manage and implement our enterprise strategy; (P) our ability to maintain effective internal controls over financial reporting; (Q) our judgements regarding accounting for tax positions and resolution of tax disputes; (R) the impacts of cost inflation and interest rates; and (S) the impact of changes in capital and credit markets on our liquidity and cost of capital. The Company cautions investors that actual future results could differ materially from those described in the forward-looking statements and that other factors may in the future prove to be important in affecting the Company's results, performance, prospects, or opportunities. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor can it assess the impact of each factor on the business or the extent to which any factor, or a combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. More information concerning potential factors that could affect future financial results is included in the Company's Annual Report on Form 10-K and in subsequent filings with the U.S. Securities and Exchange Commission. ______________________________________________________________ 1 Earnings before interest, taxes, depreciation and amortization (EBITDA), EBITDA margin, adjusted EBITDA, adjusted EBITDA margin, and adjusted diluted earnings per share (EPS) are non-GAAP financial measures. See Use of Non-GAAP Financial Measures and reconciliations to the most directly comparable GAAP measures later in this press release. 2 Backlog is a non-GAAP financial measure. See Use of Non-GAAP Financial Measures later in this press release for more information. 3 Consolidated Leverage Ratio is a non-GAAP financial measure. See Use of Non-GAAP Financial Measures later in this press release for more information. Apogee Enterprises, Inc. Consolidated Condensed Statements of Income (Unaudited) (In thousands, except per share amounts) Three Months Ended May 31, 2025 June 1, 2024 % Change Net sales $ 346,622 $ 331,516 4.6 % Cost of sales 271,497 232,661 16.7 % Gross profit 75,125 98,855 (24.0 )% Selling, general and administrative expenses 68,194 57,474 18.7 % Operating income 6,931 41,381 (83.3 )% Interest expense, net 3,846 450 754.7 % Other expense (income), net 682 (143 ) (576.9 )% Earnings before income taxes 2,403 41,074 (94.1 )% Income tax expense 5,091 10,063 (49.4 )% Net (loss) earnings $ (2,688 ) $ 31,011 (108.7 )% Basic (loss) earnings per share $ (0.13 ) $ 1.42 (109.2 )% Diluted (loss) earnings per share $ (0.13 ) $ 1.41 (109.2 )% Weighted average basic shares outstanding 21,338 21,823 (2.2 )% Weighted average diluted shares outstanding 21,338 22,061 (3.3 )% Cash dividends per common share $ 0.26 $ 0.25 4.0 % Apogee Enterprises, Inc. Consolidated Condensed Balance Sheets (Unaudited) (In thousands) May 31, 2025 March 1, 2025 Assets Current assets Cash and cash equivalents $ 32,831 $ 41,448 Receivables, net 189,956 185,590 Inventories, net 103,901 92,305 Contract assets 69,457 71,842 Other current assets 51,814 50,919 Total current assets 447,959 442,104 Property, plant and equipment, net 263,279 268,139 Operating lease right-of-use assets 58,961 62,314 Goodwill 236,560 235,775 Intangible assets, net 119,117 128,417 Other non-current assets 30,956 38,520 Total assets $ 1,156,832 $ 1,175,269 Liabilities and Shareholders' Equity Current liabilities Accounts payable 97,763 98,804 Accrued compensation and benefits 32,153 48,510 Contract liabilities 43,342 35,193 Operating lease liabilities 15,671 15,290 Other current liabilities 64,317 87,659 Total current liabilities 253,246 285,456 Long-term debt 311,000 285,000 Non-current operating lease liabilities 48,653 51,632 Non-current self-insurance reserves 29,560 30,382 Other non-current liabilities 32,590 34,901 Total shareholders' equity 481,783 487,898 Total liabilities and shareholders' equity $ 1,156,832 $ 1,175,269 Apogee Enterprises, Inc. Consolidated Statement of Cash Flows (Unaudited) Three Months Ended (In thousands) May 31, 2025 June 1, 2024 Operating Activities Net (loss) earnings $ (2,688 ) $ 31,011 Adjustments to reconcile net earnings to net cash provided by operating activities: Depreciation and amortization 12,436 9,976 Share-based compensation 2,300 2,704 Deferred income taxes 2,496 3,466 Loss on disposal of property, plant and equipment 328 22 Impairment on intangible assets 7,418 — Non-cash lease expense 3,738 2,895 Other, net 1,294 (925 ) Changes in operating assets and liabilities: Receivables (3,938 ) (9,845 ) Inventories (11,255 ) (11,337 ) Contract assets 2,596 5,511 Accounts payable 1,103 (1,871 ) Accrued compensation and benefits (16,639 ) (24,850 ) Contract liabilities 8,104 1,648 Operating lease liability (3,643 ) (3,007 ) Accrued income taxes 1,698 6,535 Other current assets and liabilities (25,130 ) (6,480 ) Net cash (used in) provided by operating activities (19,782 ) 5,453 Investing Activities Capital expenditures (7,167 ) (7,229 ) Proceeds from sales of property, plant and equipment 10 40 Purchases of marketable securities — (740 ) Sales/maturities of marketable securities 175 600 Net cash used in investing activities (6,982 ) (7,329 ) Financing Activities Proceeds from revolving credit facilities 59,000 30,000 Repayment on revolving credit facilities (33,000 ) (15,000 ) Repurchase of common stock — (15,061 ) Dividends paid (5,520 ) — Other, net (2,835 ) (4,865 ) Net cash provided by (used in) financing activities 17,645 (4,926 ) Effect of exchange rates on cash 502 (51 ) Decrease in cash, cash equivalents and restricted cash (8,617 ) (6,853 ) Cash, cash equivalents and restricted cash at beginning of period 41,448 37,216 Cash and cash equivalents at end of period $ 32,831 $ 30,363 Non-cash Activity Capital expenditures in accounts payable $ 922 $ 472 Dividends declared but not yet paid $ — $ 5,409 Apogee Enterprises, Inc. Components of Changes in Net Sales (Unaudited) Three months ended May 31, 2025, compared with the three months ended June 1, 2024 (In thousands, except percentages) Architectural Metals Architectural Services Architectural Glass Performance Surfaces Intersegment eliminations Consolidated Fiscal 2025 net sales $ 133,172 $ 99,027 $ 86,703 $ 21,204 $ (8,590 ) $ 331,516 Organic business (1) (4,548 ) 7,478 (13,430 ) (982 ) 4,560 (6,922 ) Acquisition (2) — — — 22,028 — 22,028 Fiscal 2026 net sales $ 128,624 $ 106,505 $ 73,273 ... $ 42,250 $ (4,030 ) $ 346,622 Total net sales growth (decline) (3.4 )% 7.6 % (15.5 )% 99.3 % (53.1 )% 4.6 % Organic business (1) (3.4 )% 7.6 % (15.5 )% (4.6 )% (53.1 )% (2.1 )% Acquisition (2) — % — % — % 103.9 % — % 6.6 % (1) Organic business includes net sales associated with acquired product lines or geographies that occur after the first twelve months from the date the product line or business is acquired and net sales from internally developed product lines or businesses. (2) The acquisition of UW Solutions, completed on November 4, 2024. Apogee Enterprises, Inc. Business Segment Information (Unaudited) Three Months Ended (In thousands) May 31, 2025 June 1, 2024 % Change Segment net sales Architectural Metals $ 128,624 $ 133,172 (3.4 )% Architectural Services 106,505 99,027 7.6 % Architectural Glass 73,273 86,703 (15.5 )% Performance Surfaces 42,250 21,204 99.3 % Total segment sales 350,652 340,106 3.1 % Intersegment eliminations (4,030 ) (8,590 ) (53.1 )% Net sales $ 346,622 $ 331,516 4.6 % Segment adjusted EBITDA Architectural Metals $ 9,366 $ 23,840 (60.7 )% Architectural Services 6,067 6,573 (7.7 )% Architectural Glass 13,417 20,231 (33.7 )% Performance Surfaces 7,959 5,642 41.1 % Corporate and Other (2,425 ) (3,664 ) (33.8 )% Adjusted EBITDA $ 34,384 $ 52,622 (34.7 )% Segment adjusted EBITDA margins Architectural Metals 7.3 % 17.9 % Architectural Services 5.7 % 6.6 % Architectural Glass 18.3 % 23.3 % Performance Surfaces 18.8 % 26.6 % Corporate and Other N/M N/M Adjusted EBITDA margin 9.9 % 15.9 % N/M - Indicates calculation is not meaningful. Segment net sales is defined as net sales for a certain segment and includes revenue related to intersegment transactions. Net sales intersegment eliminations are reported separately to exclude these sales from our consolidated total. Adjusted EBITDA represents adjusted net earnings before interest, taxes, depreciation, and amortization. Apogee Enterprises, Inc. Reconciliation of Non-GAAP Financial Measures Adjusted EBITDA and Adjusted EBITDA Margin (Unaudited) Three Months Ended May 31, 2025 (In thousands) Architectural Metals Architectural Services Architectural Glass Performance Surfaces Corporate and Other Consolidated Net (loss) earnings $ 3,669 $ (6,193 ) $ 10,202 $ 4,132 $ (14,498 ) $ (2,688 ) Interest expense (income), net 457 (52 ) (145 ) — 3,586 3,846 Income tax (benefit) expense (44 ) (8 ) 90 — 5,053 5,091 Depreciation and amortization 3,813 1,072 3,270 3,550 731 12,436 EBITDA 7,895 (5,181 ) 13,417 7,682 (5,128 ) 18,685 Acquisition-related costs (1) — — — 277 72 349 Restructuring costs (2) 1,471 11,248 — — 2,631 15,350 Adjusted EBITDA $ 9,366 $ 6,067 $ 13,417 $ 7,959 $ (2,425 ) $ 34,384 EBITDA margin 6.1 % (4.9 )% 18.3 % 18.2 % (1.5 )% 5.4 % Adjusted EBITDA margin 7.3 % 5.7 % 18.3 % 18.8 % (0.7 )% 9.9 % (1) Acquisition-related costs include costs related to one-time expenses incurred to integrate the UW Solutions acquisition. (2) Restructuring charges related to Project Fortify Phase 2. Three Months Ended June 1, 2024 (In thousands) Architectural Metals Architectural Services Architectural Glass Performance Surfaces Corporate and Other Consolidated Net (loss) earnings $ 17,759 $ 5,620 $ 18,050 $ 4,846 $ (15,264 ) $ 31,011 Interest expense (income), net 570 3 (112 ) — (11 ) 450 Income tax expense (benefit) 6 — (717 ) — 10,774 10,063 Depreciation and amortization 4,507 950 3,010 796 713 9,976 EBITDA 22,842 6,573 20,231 5,642 (3,788 ) 51,500 Restructuring costs (3) 998 — — — 124 1,122 Adjusted EBITDA $ 23,840 $ 6,573 $ 20,231 $ 5,642 $ (3,664 ) $ 52,622 EBITDA margin 17.2 % 6.6 % 23.3 % 26.6 % (1.1 )% 15.5 % Adjusted EBITDA margin 17.9 % 6.6 % 23.3 % 26.6 % (1.1 )% 15.9 % (3) Restructuring charges related to Project Fortify Phase 1. Apogee Enterprises, Inc. Reconciliation of Non-GAAP Financial Measures Adjusted diluted earnings per share (Unaudited) Three Months Ended (In thousands) May 31, 2025 June 1, 2024 Net (loss) earnings $ (2,688 ) $ 31,011 Acquisition-related costs (1) 349 — Restructuring charges (2) 15,350 1,122 Income tax impact on above adjustments (3) (1,161 ) (275 ) Adjusted net earnings $ 11,850 $ 31,858 Three Months Ended May 31, 2025 June 1, 2024 Diluted (loss) earnings per share $ (0.13 ) $ 1.41 Acquisition-related costs (1) 0.02 — Restructuring charges (2) 0.72 0.05 Income tax impact on above adjustments (3) (0.05 ) (0.01 ) Adjusted diluted earnings per share $ 0.56 $ 1.44 Weighted average diluted shares outstanding 21,338 22,061 (1) Acquisition-related costs include costs related to one-time expenses incurred to integrate the UW Solutions acquisition. (2) Restructuring charges related to Project Fortify Phase 2. (3) Income tax impact reflects the estimated blended statutory tax rate for the jurisdictions in which the charge or income occurred. Apogee Enterprises, Inc. Fiscal 2026 Outlook Reconciliation of Fiscal 2026 outlook of estimated Diluted Earnings per Share to Adjusted Diluted Earnings per Share (Unaudited) Fiscal Year Ending February 28, 2026 Low Range High Range Diluted earnings per share $ 2.59 $ 3.12 Acquisition-related costs (1) 0.14 0.09 Restructuring charges (2) 1.20 1.11 Income tax impact on above adjustments per share (3) (0.13 ) (0.12 ) Adjusted diluted earnings per share $ 3.80 $ 4.20 (1) Acquisition-related costs include costs related to one-time expenses incurred to integrate the UW Solutions acquisition. (2) Restructuring charges related to Project Fortify Phase 2. (3) Income tax impact reflects the estimated blended statutory tax rate for the jurisdictions in which the charge or income occurred. View source version on Contacts Nicholas ManganaroInvestor Relations857.383.2411apog@ Sign in to access your portfolio
Zawya
a day ago
- Business
- Zawya
Qatar National Bank suspends share buyback, to resume on July 10
Doha: Qatar National Bank (QNB) Group said that in accordance with Qatar Financial Markets Authority regulations, QNB will not conduct its share repurchase during the closed period commencing from 25 June 2025 to 9 July 2025, due to the upcoming publication of QNB Group's interim financial results for the six months period ending 30 June 2025. QNB will recommence its share repurchase from 10 July 2025, QNB said in a statement published on Qatar Stock Exchange website. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (
Yahoo
2 days ago
- Business
- Yahoo
WM Sets Date for Second Quarter 2025 Earnings Release and Conference Call
HOUSTON, June 26, 2025--(BUSINESS WIRE)--WM (NYSE: WM) announced that it will release second quarter financial results after the close of the market on Monday, July 28, 2025, and host its investor conference call on Tuesday, July 29 at 10 a.m. ET. Listeners can access a live audio webcast of the conference call by visiting and selecting "Events & Presentations" from the website menu. A replay of the audio webcast will be available at the same location following the conclusion of the call. Participants who will be dialing in for the conference call should register to obtain their dial in and passcode details. Participants may pre-register at any time, including up to and after the call start time. The Company participates in investor presentations and conferences throughout the year. Interested parties can find a schedule of these conferences at by selecting "Events & Presentations." ABOUT WM WM ( is North America's leading provider of comprehensive environmental solutions. Previously known as Waste Management and based in Houston, Texas, WM is driven by commitments to put people first and achieve success with integrity. The company, through its subsidiaries, provides collection, recycling and disposal services to millions of residential, commercial, industrial, medical and municipal customers throughout the U.S. and Canada. With innovative infrastructure and capabilities in recycling, organics and renewable energy, WM provides environmental solutions to and collaborates with its customers in helping them pursue their sustainability goals. In North America, WM has the largest disposal network and collection fleet, is the largest recycler and is a leader in beneficial use of landfill gas, with a growing network of renewable natural gas plants and the most landfill gas-to-electricity plants, as well as the largest heavy-duty natural gas truck fleet in the industry. WM Healthcare Solutions provides collection and disposal services of regulated medical waste and secure information destruction services in the U.S., Canada and Western Europe. To learn more about WM and the company's sustainability progress and solutions, visit View source version on Contacts WM Website Analysts Ed Egl713.265.1656eegl@ Media Toni Wernermedia@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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American Outdoor Brands, Inc. Reports Fourth Quarter and Full Fiscal 2025 Financial Results
• FY25 Net Sales $222.3 Million – Up 10.6% Y/Y • FY25 Gross Margin 44.6% – Up 60 Basis Points Y/Y• FY25 GAAP Net Loss $77,000 or $(0.01) Per Diluted Share• FY25 Non-GAAP Net Income $10.0 Million or $0.76 Per Diluted Share• FY25 Non-GAAP Adjusted EBITDA of $17.7 Million, Up 81% Y/Y• FY25 Outdoor Lifestyle Net Sales Up 16.2% Y/Y• FY25 Shooting Sports Net Sales Up 3.8% Y/Y• FY25 Traditional Channel Net Sales Up 18.1% Y/Y• FY25 International Channel Net Sales Up 20.0% Y/Y COLUMBIA, Mo., June 26, 2025 /PRNewswire/ -- American Outdoor Brands, Inc. (NASDAQ Global Select: AOUT), an innovation company that provides product solutions for outdoor enthusiasts, today announced financial results for the fourth quarter and full year fiscal 2025 ended April 30, 2025. Full Year Fiscal 2025 Financial Highlights Full year net sales were $222.3 million, an increase of $21.2 million, or 10.6%, compared with net sales of $201.1 million for the prior year, driven primarily by strong growth in traditional channel net sales of 18.1%. Full year GAAP gross margin was 44.6%, compared to 44.0% for the prior year. Full year non-GAAP gross margin was 44.8%, compared to 44.5% for the prior year. Full year GAAP net loss was $77,000, or ($0.01) per diluted share, compared with a GAAP net loss of $12.2 million, or ($0.94) per diluted share, for the prior year. Full year non-GAAP net income was $10.0 million, or $0.76 per diluted share, compared with non-GAAP net income of $4.3 million, or $0.32 per diluted share, for the prior year. GAAP to non-GAAP adjustments for net income exclude acquired intangible amortization, stock compensation, technology implementation, non-recurring inventory reserve adjustment, emerging growth status transition costs, tariff drawback adjustment, and other costs. For a detailed reconciliation, see the schedules that follow in this release. Full year Adjusted EBITDA was $17.7 million, or 7.9% of net sales, compared with Adjusted EBITDA of $9.8 million, or 4.9% of net sales, for the prior year. For a detailed reconciliation, see the schedules that follow in this release. Fourth Quarter Fiscal 2025 Financial Highlights Quarterly net sales were $61.9 million, an increase of $15.6 million, or 33.8%, compared with net sales of $46.3 million for the comparable quarter last year. Quarterly gross margin was 40.9%, compared with quarterly gross margin of 41.9% for the comparable quarter last year. Quarterly GAAP net loss was $989,000, or $(0.08) per diluted share, compared with a GAAP net loss of $5.3 million, or ($0.42) per diluted share, for the comparable quarter last year. Quarterly non-GAAP net income was $1.7 million, or $0.13 per diluted share, compared with non-GAAP net loss of $45,000, or $0.00 per diluted share, for the comparable quarter last year. GAAP to non-GAAP adjustments for net income exclude acquired intangible amortization, stock compensation, technology implementation, emerging growth status transition costs, tariff drawback adjustment, and other costs. For a detailed reconciliation, see the schedules that follow in this release. Quarterly non-GAAP Adjusted EBITDA was $3.5 million, or 5.6% of net sales, compared with Adjusted EBITDA of $1.0 million, or 2.2% of net sales, for the comparable quarter last year. For a detailed reconciliation, see the schedules that follow in this release. "Fiscal 2025 was a landmark year for American Outdoor Brands, as we exceeded our expectations across the board – thanks to continued innovation momentum, strong execution, and deepening partnerships with our retail and distribution channels. A portion of our anticipated fiscal 2026 demand was accelerated by retailers who acted to secure inventory of our most popular products – and our new products – including the ClayCopter™ and the BUBBA SFS Lite™. In many cases, those decisions were not only a reflection of excitement around our innovation pipeline, but also a prudent step by our partners to get ahead of a dynamic tariff environment and broader consumer uncertainty. "We believe these actions highlight the strength of our brands and the trust we've earned with our retail partners to provide instant and reliable access to the industry's most innovative products year after year — even when the external environment is less predictable. Across the business, we made major progress on our long-term strategic goals: we successfully transitioned DTC brands like Grilla and MEAT! into retail, delivered double-digit international growth, and continued our strategic mix shift toward the Outdoor Lifestyle category, which now represents 57% of our revenue, up from 40% in fiscal 2021. "Behind the scenes, we capitalized on our operational leverage, achieving nearly 81% EBITDA growth and delivering improved efficiency across our new ERP platform and expanded distribution center. With over 400 patents and patents pending, and what we believe is the strongest product pipeline in our company's history, we're entering the new fiscal year with momentum, discipline, and a long-term strategy designed to create significant value. While macro-level unknowns remain, we are confident in our ability to adapt, respond, and continue delivering value for our stakeholders." Andrew Fulmer, Chief Financial Officer, said, "We achieved strong financial results in fiscal 2025, exceeding our prior guidance on both the top and bottom line. We saw healthy demand across our portfolio, driven by recent product launches and strong retail engagement. While some orders were accelerated by retailers into our fourth quarter, our performance throughout the year reflected consistent operating discipline, gross margin expansion, and improved profitability. We also maintained our commitment to shareholder returns, repurchasing approximately 374,000 shares during the year, and ended fiscal 2025 with a very strong, debt-free balance sheet with $23.4 million in cash. "Looking ahead, we acknowledge that the macro environment remains dynamic, particularly with respect to evolving tariff policies and consumer behavior. Given this uncertainty, combined with our retailers choosing to accelerate purchases of approximately $8 million to $10 million in orders originally planned for fiscal 2026, we are suspending our previously issued fiscal 2026 net sales guidance. This decision reflects prudence, not a change in conviction – we remain confident in our innovation capabilities, our cost discipline, and our flexible, asset-light operating model. The strategic initiatives we've implemented – enhanced retail placement, operational efficiencies, and a robust new product pipeline – give us the tools to remain agile and well-positioned for long-term growth." Conference Call and WebcastThe Company will host a conference call and webcast today, June 26, 2025, to discuss its fourth quarter and full year fiscal 2025 financial and operational results. Speakers on the conference call will include Brian Murphy, President and Chief Executive Officer, and Andrew Fulmer, Chief Financial Officer. The conference call may include forward-looking statements and a discussion of non-GAAP financial measures. The conference call and webcast will begin at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time). Those interested in listening to the conference call via telephone may call directly at (833) 630-1956 and ask to join the American Outdoor Brands call. No RSVP is necessary. The conference call audio webcast can also be accessed live on the Company's website at under the Investor Relations section. Reconciliation of U.S. GAAP to Non-GAAP Financial MeasuresIn this press release, certain non-GAAP financial measures, including "non-GAAP net income" and "Adjusted EBITDA" are presented. A reconciliation of these and other non-GAAP financial measures is contained at the end of this press release. From time to time, the Company considers and uses these non-GAAP financial measures as supplemental measures of operating performance in order to provide the reader with an improved understanding of underlying performance trends. The Company believes it is useful for itself and the reader to review, as applicable, both (1) GAAP measures that include (i) amortization of acquired intangible assets, (ii) stock compensation, (iii) technology implementation, (iv) non-recurring inventory reserve adjustment, (v) emerging growth status transition costs, (vi) tariff drawback adjustment, (vii) income tax adjustments, (viii) interest income, (ix) income tax expense/(benefit), and (x) depreciation and amortization; and (2) the non-GAAP measures that exclude such information. The Company presents these non-GAAP measures because it considers them an important supplemental measure of its performance and believes the disclosure of such measures provides useful information to investors regarding the Company's financial condition and results of operations. The Company's definition of these adjusted financial measures may differ from similarly named measures used by others. The Company believes these measures facilitate operating performance comparisons from period to period by eliminating potential differences caused by the existence and timing of certain expense items that would not otherwise be apparent on a GAAP basis. These non-GAAP measures have limitations as an analytical tool and should not be considered in isolation or as a substitute for the Company's GAAP measures. The principal limitations of these measures are that they do not reflect the Company's actual expenses and may thus have the effect of inflating its financial measures on a GAAP basis. About American Outdoor Brands, Outdoor Brands, Inc. (NASDAQ Global Select: AOUT) is an innovation company that provides product solutions for outdoor enthusiasts, including hunting, fishing, camping, shooting, outdoor cooking, and personal security and personal defense products. The Company produces innovative, high quality products under brands including BOG®; BUBBA®; Caldwell®; Crimson Trace®; Frankford Arsenal®; Grilla Grills®; Hooyman®; Imperial®; LaserLyte®; Lockdown®; MEAT!™; Old Timer®; Schrade®; Tipton®; Uncle Henry®; ust®; and Wheeler®. For more information about all the brands and products from American Outdoor Brands, Inc., visit Safe Harbor StatementCertain statements contained in this press release may be deemed to be forward-looking statements under federal securities laws, and we intend that such forward-looking statements be subject to the safe harbor created thereby. All statements other than statements of historical facts contained or incorporated herein by reference in this press release, including statements regarding our future operating results, future financial position, business strategy, objectives, goals, plans, prospects, markets, and plans and objectives for future operations, are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "anticipates," "believes," "estimates," "expects," "intends," "targets," "contemplates," "projects," "predicts," "may," "might," "plan," "would," "should," "could," "may," "can," "potential," "continue," "objective," or the negative of those terms, or similar expressions intended to identify forward-looking statements. However, not all forward-looking statements contain these identifying words. Specific forward-looking statements in this press release include our belief in the strength of our brands and the trust and relationships with our retail partners; our belief in the strength of our product pipeline and intellectual property; our belief in the effectiveness of our long-term strategy; our confidence in our innovation capabilities, our cost discipline, and our flexible, asset-light operating model; and our confidence and belief in our strategic initiatives. We caution that these statements are qualified by important risks, uncertainties, and other factors that could cause actual results to differ materially from those reflected by such forward-looking statements. Such factors include, among others, potential disruptions in our ability to source the materials necessary for the production of our products, disruptions and delays in the manufacture of our products, and difficulties encountered by retailers and other components of the distribution channel for our products; economic, social, political, legislative, and regulatory factors; lawsuits and their effect on us; inventory levels, both internally and in the distribution channel, in excess of demand; natural disasters, pandemics, seasonality, news events, political events, and consumer tastes; future investments for capital expenditures; future products and product development; the features, quality, and performance of our products; the success of our strategies and marketing programs; our market share and factors that affect our market share; liquidity and anticipated cash needs and availability; the supply, availability, and costs of materials and components; the potential for increased tariffs on our products, including tariffs that may be imposed by the current presidential administration; our ability to maintain and enhance brand recognition and reputation; risks associated with the distribution of our products and overall availability of labor; and other factors detailed from time to time in our reports filed with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the fiscal year ended April 30, 2025. AMERICAN OUTDOOR BRANDS, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETSAs of:April 30, 2025April 30, 2024(In thousands, except par value and share data) ASSETS Current assets:Cash and cash equivalents $ 23,423$ 29,698 Accounts receivable, net of allowance for credit losses of $159 on April 30, 2025 and $133 on April 30, 2024 39,33725,728 Inventories 104,71793,315 Prepaid expenses and other current assets 3,9706,410 Income tax receivable 143223 Total current assets 171,590155,374 Property, plant, and equipment, net 11,23111,038 Intangible assets, net 31,41140,217 Right-of-use assets 31,89633,564 Other assets 227404 Total assets $ 246,355$ 240,597 LIABILITIES AND EQUITY Current liabilities:Accounts payable $ 15,717$ 14,198 Accrued expenses 13,8729,687 Accrued payroll and incentives 5,8714,167 Lease liabilities, net of current portion 1,3361,331 Total current liabilties 36,79629,383 Lease liabilities, net of current portion 31,94933,289 Total liabilities 68,74562,672 Commitments and contingencies Equity:Preferred stock, $0.001 par value, 20,000,000 shares authorized, no shares issued or outstanding on April 30, 2025 and 2024 —— Common stock, $0.001 par value, 100,000,000 shares authorized, 14,974,217 shares issued and 12,696,356 shares outstanding on April 30, 2025 and 14,701,280 shares issued and 12,797,865 shares outstanding on April 30, 2024 1515 Additional paid in capital 280,711277,107 Retained deficit (74,700)(74,623) Treasury stock, at cost (2,277,861 shares on April 30, 2025 and 1,903,415 shares on April 30, 2024) (28,416)(24,574) Total equity 177,610177,925 Total liabilities and equity $ 246,355$ 240,597 AMERICAN OUTDOOR BRANDS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share data) For the Three Months ended April 30, For the Years Ended April 30, 2025202420252024 (Unaudited) Net sales $ 61,942$ 46,299$ 222,322$ 201,099 Cost of sales36,63326,915123,058112,673 Gross profit25,30919,38499,26488,426 Operating expenses: Research and development2,2231,7857,7106,851 Selling, marketing, and distribution14,18713,11755,56355,050 General and administrative9,8529,98836,14539,022 Total operating expenses26,26224,89099,418100,923 Operating loss(953)(5,506)(154)(12,497) Other (expense)/income, net: Other (expense)/income, net(49)(4)140140 Interest income, net441106039 Total other (expense)/income, net(5)106200179 Income/(loss) from operations before income taxes(958)(5,400)46(12,318) Income tax expense/(benefit)31(98)123(70) Net loss$ (989)$ (5,302)$ (77)$ (12,248) Net loss per share: Basic and diluted$ (0.08)$ (0.42)$ (0.01)$ (0.94) AMERICAN OUTDOOR BRANDS, INC. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF CASH FLOWSFor the Years Ended April 30, 20252024 (In thousands)Cash flows from operating activities: Net loss $ (77)$ (12,248)Adjustments to reconcile net loss to net cash provided by operating activities: Depreciation and amortization 13,27516,101Loss on sale/disposition of assets 157Provision for credit losses on accounts receivable 268Stock-based compensation expense 3,5004,075Changes in operating assets and liabilities: Accounts receivable (13,635)1,110Inventories (11,402)6,419Accounts payable 8342,873Accrued liabilities 5,8893,300Other 2,9342,846Net cash provided by operating activities 1,35924,491Cash flows from investing activities: Payments to acquire patents and software (743)(1,340)Proceeds from sale of property and equipment —131Payments to acquire property and equipment (3,153)(4,767) Net cash used in investing activities (3,896)(5,976)Cash flows from financing activities: Proceeds from loans and notes payable 7,000—Payments on notes and loans payable (7,000)(5,000)Payments to acquire treasury stock (3,842)(6,015)Proceeds from exercise of options to acquire common stock, including employee stock purchase plan 628671Payment of employee withholding tax related to restricted stock units (524)(423) Net cash used in financing activities (3,738)(10,767)Net (decrease)/increase in cash and cash equivalents (6,275)7,748Cash and cash equivalents, beginning of period 29,69821,950Cash and cash equivalents, end of period $ 23,423$ 29,698 AMERICAN OUTDOOR BRANDS, INC. AND SUBSIDIARIESRECONCILIATION OF GAAP FINANCIAL MEASURES TO NON-GAAP FINANCIAL MEASURES (In thousands, except per share data)(Unaudited) For the Three Months Ended April 30,For the Years Ended April 30, 2025202420252024 GAAP gross profit $ 25,309$ 19,384$ 99,264$ 88,426Non-recurring inventory reserve adjustment ——444—Tariff drawback adjustment —1,113—1,113Non-GAAP gross profit $ 25,309$ 20,497$ 99,708$ 89,539 GAAP operating expenses $ 26,262$ 24,890$ 99,418$ 100,923Amortization of acquired intangible assets (2,119)(2,960)(8,475)(11,842)Stock compensation (815)(1,005)(3,500)(4,075)Technology implementation ———(465)Emerging growth status transition costs (213)—(458)—Other —(264)(100)(468)Non-GAAP operating expenses $ 23,115$ 20,661$ 86,885$ 84,073 GAAP operating loss $ (953)$ (5,506)$ (154)$ (12,497)Amortization of acquired intangible assets 2,1192,9608,47511,842Stock compensation 8151,0053,5004,075Non-recurring inventory reserve adjustment ——444—Technology implementation ———465Tariff drawback adjustment —1,113—1,113Emerging growth status transition costs 213—458—Other —264100468Non-GAAP operating income/(loss) $ 2,194$ (164)$ 12,823$ 5,466 GAAP net loss $ (989)$ (5,302)$ (77)$ (12,248)Amortization of acquired intangible assets 2,1192,9608,47511,842Stock compensation 8151,0053,5004,075Non-recurring inventory reserve adjustment ——444—Technology implementation ———465Tariff drawback adjustment —1,113—1,113Emerging growth status transition costs 213—458—Other —264100468Income tax adjustments (472)(85)(2,872)(1,369)Non-GAAP net income/(loss) $ 1,686$ (45)$ 10,028$ 4,346 GAAP net loss per share - diluted $ (0.08)$ (0.42)$ (0.01)$ (0.94)Amortization of acquired intangible assets 0.170.230.660.91Stock compensation 0.060.080.270.31Non-recurring inventory reserve adjustment ——0.03—Technology implementation ———0.03Tariff drawback adjustment —0.09—0.09Emerging growth status transition costs 0.02—0.04—Other —0.02—0.04Income tax adjustments (0.04)(0.01)(0.22)(0.11)Non-GAAP net income per share - diluted $ 0.13$ - (a) $ 0.76 (a) $ 0.32 (a) (a) Non-GAAP net income per share does not foot due to rounding. AMERICAN OUTDOOR BRANDS, INC. AND SUBSIDIARIES RECONCILIATION OF GAAP NET LOSS TO NON-GAAP ADJUSTED EBITDA (In thousands)(Unaudited)For the Three Months Ended April 30, For the Years Ended April 30, 2025202420252024 GAAP net loss $ (989)$ (5,302)$ (77)$ (12,248) Interest income(44) (110) (60) (39) Income tax expense/(benefit)31 (98) 123 (70) Depreciation and amortization3,437 4,157 13,179 16,005 Stock compensation815 1,005 3,500 4,075 Technology implementation— — — 465 Tariff drawback adjustment— 1,113 — 1,113 Non-recurring inventory reserve adjustment— — 444 — Emerging growth status transition costs213 — 458 — Other— 264 100 468 Non-GAAP Adjusted EBITDA $ 3,463$ 1,029$ 17,667$ 9,769 Contact: Liz Sharp, VP, Investor Relationslsharp@ 303-4620 View original content to download multimedia: SOURCE American Outdoor Brands, Inc. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
