American Outdoor Brands, Inc. Reports Third Quarter Fiscal 2026 Financial Results
Rhea-AI Summary
American Outdoor Brands (NASDAQ: AOUT) reported third quarter fiscal 2026 results for the period ended Jan 31, 2026. Net sales were $56.6M, down 3.3% year-over-year; gross margin 41.0%; GAAP net loss $4.1M or $(0.32) per diluted share; non-GAAP net income $1.5M or $0.12 per diluted share.
Outdoor Lifestyle represented >62% of sales and grew 5.4%; Shooting Sports declined 15%. Company ended the quarter debt-free with $10.4M cash and repurchased ~181,000 shares for $1.4M. Fiscal 2026 net sales guidance: $191M–$193M.
Positive
- Net sales of $56.6M in Q3
- Outdoor Lifestyle drove >62% of net sales, growing 5.4%
- New products comprised 26% of net sales
- Ended quarter debt-free with $10.4M cash
- Share repurchases of ~181,000 shares for $1.4M
- Maintained fiscal 2026 net sales guidance of $191M–$193M
Negative
- Quarterly GAAP net loss of $4.1M ($(0.32) diluted)
- Quarterly gross margin declined to 41.0% from 44.7% prior year
- Non-GAAP net income fell to $1.5M from $2.7M year-ago
- Adjusted EBITDA decreased to $3.3M (5.8% of sales) from $4.7M (8.1%)
- Shooting Sports category sales declined 15% year-over-year
- Tariff costs and inventory clearance actions reduced reported margins
News Market Reaction – AOUT
In the Mar 13 session, AOUT declined 6.55%, reflecting a notable negative market reaction. Argus tracked a trough of -5.1% from its starting point during tracking. Our momentum scanner triggered 11 alerts that day, indicating notable trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Dec 09 | Q2 2026 earnings | Negative | +4.4% | Sales and margin declines with lowered FY2026 outlook and softer profitability. |
| Sep 04 | Q1 2026 earnings | Negative | -18.1% | Large reported sales drop and wider GAAP loss despite tariff-related timing effects. |
| Jun 26 | FY2025 results | Positive | -13.1% | Double-digit sales growth, margin expansion, and strong Adjusted EBITDA for FY2025. |
| Mar 06 | Q3 2025 earnings | Positive | -7.4% | Robust Q3 sales growth, higher margins, and nearly doubled Adjusted EBITDAS. |
| Dec 05 | Q2 2025 earnings | Positive | +21.4% | Sales and margin growth across channels with raised FY2025 guidance. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Earnings releases often led to volatile and sometimes contrarian moves, with several strong fundamental reports followed by negative price reactions.
Over the last five earnings events, American Outdoor Brands has swung between strong growth and more challenging comparisons. FY2025 results showed $222.3M in net sales and expanding margins, but FY2026 quarters have included sharper year-over-year sales declines and losses, partly tied to order pull-forwards. Market reactions have been mixed: some positive reports, such as Q3 and Q4 FY2025, were followed by notable selloffs, while Q2 FY2026’s softer results saw a +4.42% move, underscoring inconsistent trading responses to fundamentals.
Key Terms
gaap financial
non-gaap financial
adjusted ebitda financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Third Quarter Fiscal 2026 Financial Highlights
- Quarterly net sales were
$56.6 million $1.9 million 3.3% , compared with net sales of$58.5 million - Quarterly gross margin was
41.0% , compared with quarterly gross margin of44.7% for the comparable quarter last year. - Quarterly GAAP net loss was
$4.1 million $(0.32) $169,000 $0.01 - Quarterly non-GAAP net income was
$1.5 million $0.12 $2.7 million $0.21 - Quarterly non-GAAP Adjusted EBITDA was
$3.3 million 5.8% of net sales, compared with Adjusted EBITDA of$4.7 million 8.1% of net sales, for the comparable quarter last year. For a detailed reconciliation, see the schedules that follow in this release.
"We were pleased to deliver third quarter net sales results that exceeded our expectations, supported by strong retail sell-through and continued momentum across our growth brands. Total POS increased by
"Our Outdoor Lifestyle category, which includes hunting and meat processing, generated over
"New products represented over
"These new products from Caldwell® and BUBBA® demonstrate that we are intentionally executing on a strategy that pairs innovative hardware with integrated digital capabilities in categories where connectivity enhances the consumer experience. By building connected product ecosystems around select growth brands, we are deepening engagement, creating differentiated value for our retail partners, and supporting recurring revenue opportunities. We look forward to building on that momentum with innovation from BUBBA® that we'll unveil this summer at ICAST, the world's largest sport fishing expo.
"Taken together, our third quarter performance highlights the strength of our diversified brand portfolio and the effectiveness of our long-term strategy. Equally important, we remain disciplined in how we allocate capital – prioritizing investments that support innovation and long-term value creation, refining our portfolio to ensure alignment with our strategic direction, and actively managing working capital to enhance financial flexibility."
Andrew Fulmer, Chief Financial Officer, said, "In the third quarter, net sales came in ahead of our expectations, and we delivered gross margins of
Fiscal 2026 Outlook
Fulmer continued, "We are encouraged by our performance so far in fiscal 2026, particularly in light of the ongoing tariff environment, cautious retailer ordering patterns, and broader consumer uncertainty. As such, we are maintaining our financial outlook and continue to expect fiscal 2026 net sales in the range of approximately
Conference Call and Webcast
The Company will host a conference call and webcast today, Thursday, March 12, 2026, to discuss its third quarter fiscal 2026 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 www.aob.com, under the Investor Relations section.
Reconciliation of
In 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) impairment of assets held for sale, (iv) non-recurring inventory reserve adjustment, (v) emerging growth status transition costs, (vi) technology implementation, (vii) income tax adjustments, (viii) interest income, (ix) income tax expense, 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, Inc.
American Outdoor Brands, Inc. (NASDAQ Global Select: AOUT) is an innovation company that provides product solutions for outdoor enthusiasts, including hunting, fishing, camping, shooting, meat processing, 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®; Hooyman®; Imperial®; LaserLyte®; Lockdown®; MEAT! Your Maker®; Old Timer®; Schrade®; Tipton®; Uncle Henry®; ust®; and Wheeler®. For more information about all the brands and products from American Outdoor Brands, Inc., visit www.aob.com.
Safe Harbor Statement
Certain 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 of our commitment to innovation and disciplined execution of our long-term strategy; our belief that our strategy is effective and that our brands are continuing to win at retail; our belief of continued momentum across our growth brands; our belief that consumers continue to engage with our innovative product offerings; our plan to unveil new products this summer at ICAST; and our estimates and predictions under "Fiscal 2026 Outlook." 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, such as the impact from changing economic policies, tariffs and supply chain constraints; the potential for product recalls, product liability, and other claims or lawsuits against 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; our ability to introduce new products that are successful in the marketplace; interruptions of our arrangements with third-party contract manufacturers and freight carriers that disrupt our ability to fill our customers' orders; the features, quality, and performance of our products; the success of our strategies and marketing programs; lower levels of consumer spending in general and specific to our products or product categories; liquidity and anticipated cash needs and availability; increases in costs or decreases in availability of finished products, components, and raw materials; the uncertainty around tariff policies and potential recovery of tariffs paid that have been determined to be unlawful, and the potential for increased tariffs on our products, including additional tariffs that may be imposed by the current presidential administration; our ability to maintain or strengthen our 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 SHEETS | |||
(In thousands, except par value and share data) | |||
As of: | |||
January 31, 2026 | April 30, 2025 | ||
ASSETS | |||
Current assets: | |||
Cash and cash equivalents | $ 10,395 | $ 23,423 | |
Accounts receivable, net of allowance for credit losses of | 32,919 | 39,337 | |
Inventories | 110,177 | 104,717 | |
Assets held for sale | 899 | — | |
Prepaid expenses and other current assets | 4,013 | 3,970 | |
Income tax receivable | 188 | 143 | |
Total current assets | 158,591 | 171,590 | |
Property, plant, and equipment, net | 9,820 | 11,231 | |
Intangible assets, net | 25,250 | 31,411 | |
Right-of-use assets | 31,157 | 31,896 | |
Other assets | 155 | 227 | |
Total assets | $ 224,973 | $ 246,355 | |
LIABILITIES AND EQUITY | |||
Current liabilities: | |||
Accounts payable | $ 12,687 | $ 15,717 | |
Accrued expenses | 13,297 | 13,872 | |
Accrued payroll and incentives | 554 | 5,871 | |
Lease liabilities, net of current portion | 1,537 | 1,336 | |
Total current liabilities | 28,075 | 36,796 | |
Lease liabilities, net of current portion | 31,229 | 31,949 | |
Total liabilities | 59,304 | 68,745 | |
Commitments and contingencies | |||
Equity: | |||
Preferred stock, | — | — | |
Common stock, | 15 | 15 | |
Additional paid in capital | 282,214 | 280,711 | |
Retained deficit | (83,527) | (74,700) | |
Treasury stock, at cost (2,773,269 shares on January 31, 2026 and | (33,033) | (28,416) | |
Total equity | 165,669 | 177,610 | |
Total liabilities and equity | $ 224,973 | $ 246,355 | |
AMERICAN OUTDOOR BRANDS, INC. AND SUBSIDIARIES | ||||||||
CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||
(In thousands, except per share data) | ||||||||
For the Three Months ended January 31, | For the Nine Months ended January 31, | |||||||
2026 | 2025 | 2026 | 2025 | |||||
(Unaudited) | (Unaudited) | |||||||
Net sales | $ 56,576 | $ 58,505 | $ 143,477 | $ 160,380 | ||||
Cost of sales | 33,396 | 32,382 | 80,341 | 86,425 | ||||
Gross profit | 23,180 | 26,123 | 63,136 | 73,955 | ||||
Operating expenses: | ||||||||
Research and development | 1,332 | 1,947 | 4,509 | 5,487 | ||||
Selling, marketing, and distribution | 14,369 | 15,019 | 39,220 | 41,376 | ||||
General and administrative | 7,959 | 8,854 | 24,614 | 26,293 | ||||
Impairment of assets held for sale | 3,433 | — | 3,433 | — | ||||
Total operating expenses | 27,093 | 25,820 | 71,776 | 73,156 | ||||
Operating (loss)/income | (3,913) | 303 | (8,640) | 799 | ||||
Other (expense)/income, net: | ||||||||
Other income, net | 6 | 47 | 100 | 189 | ||||
Interest (expense)/income, net | (165) | (123) | (233) | 19 | ||||
Total other (expense)/income, net | (159) | (76) | (133) | 208 | ||||
(Loss)/income from operations before income taxes | (4,072) | 227 | (8,773) | 1,007 | ||||
Income tax expense | 1 | 58 | 54 | 92 | ||||
Net (loss)/income | $ (4,073) | $ 169 | $ (8,827) | $ 915 | ||||
Net (loss)/income per share: | ||||||||
Basic | $ (0.32) | $ 0.01 | $ (0.70) | $ 0.07 | ||||
Diluted | $ (0.32) | $ 0.01 | $ (0.70) | $ 0.07 | ||||
Weighted average number of common shares outstanding: | ||||||||
Basic and diluted | 12,549 | 12,764 | 12,635 | 12,830 | ||||
Diluted | 12,549 | 13,124 | 12,635 | 13,215 | ||||
AMERICAN OUTDOOR BRANDS, INC. AND SUBSIDIARIES | ||||
CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||
(In thousands) | ||||
For the Nine Months Ended January 31, | ||||
2026 | 2025 | |||
(Unaudited) | ||||
Cash flows from operating activities: | ||||
Net (loss)/income | $ (8,827) | $ 915 | ||
Adjustments to reconcile net (loss)/income to net cash used in | ||||
Depreciation and amortization | 9,445 | 9,814 | ||
Provision for credit losses on accounts receivable | (352) | 26 | ||
Impairment of assets held for sale | 3,433 | — | ||
Stock-based compensation expense | 2,275 | 2,685 | ||
Changes in operating assets and liabilities: | ||||
Accounts receivable | 6,770 | (5,940) | ||
Inventories | (9,008) | (22,456) | ||
Accounts payable | (2,572) | 3,811 | ||
Accrued liabilities | (6,380) | 1,335 | ||
Other | 132 | 3,414 | ||
Net cash used in operating activities | (5,084) | (6,396) | ||
Cash flows from investing activities: | ||||
Payments to acquire patents and software | (550) | (799) | ||
Payments to acquire property and equipment | (2,005) | (2,594) | ||
Net cash used in investing activities | (2,555) | (3,393) | ||
Cash flows from financing activities: | ||||
Proceeds from notes and loans payable | 9,120 | 7,000 | ||
Payments on notes and loans payable | (9,120) | (7,000) | ||
Payments to acquire treasury stock | (4,617) | (2,609) | ||
Proceeds from exercise of options to acquire common stock, | 304 | 286 | ||
Payment of employee withholding tax related to restricted stock units | (1,076) | (516) | ||
Net cash used in financing activities | (5,389) | (2,839) | ||
Net decrease in cash and cash equivalents | (13,028) | (12,628) | ||
Cash and cash equivalents, beginning of period | 23,423 | 29,698 | ||
Cash and cash equivalents, end of period | $ 10,395 | $ 17,070 | ||
AMERICAN OUTDOOR BRANDS, INC. AND SUBSIDIARIES
| ||||||||
For the Three Months ended January 31, | For the Nine Months ended January 31, | |||||||
2026 | 2025 | 2026 | 2025 | |||||
(Unaudited) | ||||||||
GAAP gross profit | $ 23,180 | $ 26,123 | $ 63,136 | $ 73,955 | ||||
Non-recurring inventory reserve adjustment | — | 223 | — | 444 | ||||
Non-GAAP gross profit | $ 23,180 | $ 26,346 | $ 63,136 | $ 74,399 | ||||
GAAP operating expenses | $ 27,093 | $ 25,820 | $ 71,776 | $ 73,156 | ||||
Amortization of acquired intangible assets | (1,798) | (2,120) | (5,465) | (6,361) | ||||
Stock compensation | (776) | (887) | (2,275) | (2,685) | ||||
Impairment of assets held for sale | (3,433) | — | (3,433) | — | ||||
Technology implementation | (11) | — | (41) | — | ||||
Emerging growth status transition costs | — | (82) | — | (245) | ||||
Other | (47) | (22) | (81) | (100) | ||||
Non-GAAP operating expenses | $ 21,028 | $ 22,709 | $ 60,481 | $ 63,765 | ||||
GAAP operating (loss)/income | $ (3,913) | $ 303 | $ (8,640) | $ 799 | ||||
Amortization of acquired intangible assets | 1,798 | 2,120 | 5,465 | 6,361 | ||||
Stock compensation | 776 | 887 | 2,275 | 2,685 | ||||
Impairment of assets held for sale | 3,433 | — | 3,433 | — | ||||
Non-recurring inventory reserve adjustment | — | 223 | — | 444 | ||||
Technology implementation | 11 | — | 41 | — | ||||
Emerging growth status transition costs | — | 82 | — | 245 | ||||
Other | 47 | 22 | 81 | 100 | ||||
Non-GAAP operating income | $ 2,152 | $ 3,637 | $ 2,655 | $ 10,634 | ||||
GAAP net (loss)/income | $ (4,073) | $ 169 | $ (8,827) | $ 915 | ||||
Amortization of acquired intangible assets | 1,798 | 2,120 | 5,465 | 6,361 | ||||
Stock compensation | 776 | 887 | 2,275 | 2,685 | ||||
Impairment of assets held for sale | 3,433 | — | 3,433 | — | ||||
Non-recurring inventory reserve adjustment | — | 223 | — | 444 | ||||
Technology implementation | 11 | — | 41 | — | ||||
Emerging growth status transition costs | — | 82 | — | 245 | ||||
Other | 47 | 22 | 81 | 100 | ||||
Income tax adjustments | (457) | (760) | (527) | (2,402) | ||||
Non-GAAP net income | $ 1,535 | $ 2,743 | $ 1,941 | $ 8,348 | ||||
GAAP net (loss)/income per share - diluted | $ (0.32) | $ 0.01 | $ (0.70) | $ 0.07 | ||||
Amortization of acquired intangible assets | 0.14 | 0.17 | 0.43 | 0.50 | ||||
Stock compensation | 0.06 | 0.07 | 0.18 | 0.21 | ||||
Impairment of assets held for sale | 0.27 | — | 0.27 | — | ||||
Non-recurring inventory reserve adjustment | — | 0.02 | — | 0.03 | ||||
Technology implementation | — | — | — | — | ||||
Emerging growth status transition costs | — | 0.01 | — | 0.02 | ||||
Other | — | — | — | — | ||||
Income tax adjustments | (0.04) | (0.06) | (0.04) | (0.19) | ||||
Non-GAAP net income per share - diluted | $ 0.12 | (a) | $ 0.21 | (a) | $ 0.15 | (a) | $ 0.63 | (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)/INCOME TO NON-GAAP ADJUSTED EBITDA | ||||||||||
For the Three Months ended January 31, | For the Nine Months ended January 31, | |||||||||
2026 | 2025 | 2026 | 2025 | |||||||
(Unaudited) | ||||||||||
GAAP net (loss)/income | $ (4,073) | $ 169 | $ (8,827) | $ 915 | ||||||
Interest expense/(income) | 165 | 123 | 233 | (19) | ||||||
Income tax expense | 1 | 58 | 54 | 92 | ||||||
Depreciation and amortization | 2,937 | 3,164 | 9,372 | 9,741 | ||||||
Stock compensation | 776 | 887 | 2,275 | 2,685 | ||||||
Impairment of assets held for sale | 3,433 | — | 3,433 | — | ||||||
Technology implementation | 11 | — | 41 | — | ||||||
Non-recurring inventory reserve adjustment | — | 223 | — | 444 | ||||||
Emerging growth status transition costs | — | 82 | — | 245 | ||||||
Other | 47 | 22 | 81 | 100 | ||||||
Non-GAAP Adjusted EBITDA | $ 3,297 | $ 4,728 | $ 6,662 | $ 14,203 | ||||||
Contact: Liz Sharp, VP, Investor Relations
lsharp@aob.com
(573) 303-4620
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SOURCE American Outdoor Brands, Inc.