SharkNinja (SN) Q1 2026 earnings summary

Executive summary

• Q1 2026 net sales rose 15.6% year-over-year to $1.41 billion, marking the 12th consecutive quarter of double-digit organic growth, with strong growth across all business pillars and geographies, especially internationally where sales surged 31.6%.

• Adjusted EBITDA increased 17.5% to $235.4 million, with margin improving to 16.7%.

• Adjusted Net Income per diluted share grew over 25% year-over-year to $1.09, while net income was $121.5 million, up 3.1%.

• Product innovation, omni-channel expansion (including DTC and TikTok Shop), and AI initiatives fueled operational efficiency and growth.

• FY 2026 outlook was raised for net sales, Adjusted EBITDA, and Adjusted EPS.

Financial highlights

• Domestic net sales up 8.4% to $916 million; international net sales up 31.6% to $497 million.

• Cleaning category sales increased 17% to $517 million; cooking and beverage up 19.8% to $415 million; beauty and home environment up 40.8% to $194 million; food preparation declined 3.3% to $287.5 million.

• Adjusted gross margin was 49.2%, down 10 basis points year-over-year; GAAP gross margin at 49.3%.

• Adjusted net income was $155 million ($1.09 per diluted share), up from $124 million ($0.87) last year.

• Cash and equivalents at $512 million; total debt at $729 million; inventories at $1.03 billion, up 6.3% year-over-year.

Outlook and guidance

• FY 2026 net sales growth expected at 11.5%-12.5%, with Adjusted EPS guidance raised to $6.00-$6.10 and Adjusted EBITDA expected at $1.29-$1.30 billion (13.5%-14.5% growth).

• Capital expenditures projected at $190-$210 million; GAAP tax rate at 22%-23%.

• Guidance assumes current tariff levels and manageable raw material cost impacts, but is subject to macroeconomic, geopolitical, and tariff uncertainties.

• Ongoing mitigation efforts include supply chain diversification, cost optimization, and targeted pricing actions.