Clarus Corporation Q2 2026 Earnings Recap

Shares jumped 10.4% as Clarus beat expectations driven by strong revenue growth and margin expansion in its Outdoor segment, supported by a sizable tariff refund and successful inventory management.

Key Takeaways

• Outdoor segment revenue grew 9.1% year-over-year, led by 7.4% growth in Mountain, 13.5% in Climb, and 7.4% in Apparel, with full-price Apparel sales up 22.9% and clearance down 61%.
• Gross margin surged to 52.0% from 34.9% last year, boosted by a $6.1 million tariff refund; excluding the refund, margin still improved 160 basis points to 36.5%.
• Adjusted EBITDA reached $9.0 million, though stripping out tariff and legal benefits, underlying EBITDA was $1.5 million, up from $0.3 million last year.
• Adventure segment sales missed expectations despite a 420 basis point gross margin improvement, reflecting effective cost controls amid rescaling efforts.
• Share repurchases continued under the $50 million program, with $0.4 million spent to buy back 153,331 shares, maintaining $42.4 million capacity.