American Outdoor Brands (AOUT) Q4 2026 earnings summary

Executive summary

• Fiscal 2026 net sales were $190.5 million, down 14.3% year-over-year due to $10 million in orders accelerated into fiscal 2025 to avoid tariffs; adjusted, net sales declined 5.4%.

• Innovation remained a core focus, with new products accounting for over 29% of net sales and patented products generating 54% of net sales.

• The company maintained an asset-light operating model, supporting scalable growth and resilience in large, resilient consumer end markets.

• The brand portfolio targets Outdoor Lifestyle and Shooting Sports, with a robust new product pipeline and strong IP protection.

• Strategic actions included a planned divestiture, supply chain flexibility, and ongoing share repurchases.

Financial highlights

• FY 2026 net sales were $190.5 million, down 14.3% year-over-year; adjusted for order acceleration, the decline was 5.4%.

• Gross margin increased 10 basis points to 44.7%, driven by pricing actions and higher-margin new products.

• Adjusted EBITDA was $10.2 million (5.3% of net sales), down from $17.7 million (7.9%) prior year.

• GAAP net loss was $9.2 million ($0.73 per share); non-GAAP net income per share was $0.28.

• Ended the year with $21.4 million in cash, no debt, and $5.1 million in share repurchases.

Outlook and guidance

• FY 2027 net sales expected at $200–$210 million, representing 7.5% growth at the midpoint.

• Adjusted EBITDA margin projected at 6.5%–7.5% of net sales, over 40% increase at midpoint versus FY 2026.

• Gross margins expected to remain in the mid-40% range.

• Operating expenses to increase slightly due to higher sales, offset by lower intangible amortization.

• Minimal GAAP income tax expected due to $21 million in NOL carryforwards.