SN · SharkNinja, Inc.

SharkNinja delivered a strong first quarter, with net sales rising 15.6% to $1,412.8 million, marking the 12th consecutive quarter of double-digit organic growth. The growth was broad-based across categories, led by Beauty and Home Environment Appliances (+40.8%) driven by skincare innovations, and Cooking and Beverage Appliances (+19.8%) fueled by the Ninja Luxe Café and Ninja Crispi. International sales surged 31.6%, reflecting successful global expansion, while Domestic grew 8.4%. Gross margin declined 10 basis points to 49.2% (GAAP) and adjusted gross margin fell 100 bps to 49.2%, primarily due to tariff cost pressures in the U.S., partially offset by cost optimization and favorable category mix. Operating expenses were well-controlled, with adjusted operating expenses as a percentage of net sales declining for the fourth consecutive quarter. Adjusted EBITDA grew 17.5% to $235.4 million, with margin expanding 30 bps to 16.7%. Net income rose 3.1% to $121.5 million, while adjusted net income increased 25.1% to $154.8 million, reflecting strong operational leverage. Management raised fiscal 2026 guidance across key metrics: net sales growth now expected at 11.5%-12.5% (vs. prior 10%-11%), adjusted EPS of $6.00-$6.10 (vs. $5.90-$6.00), and adjusted EBITDA of $1,290-$1,300 million (vs. $1,270-$1,280 million). The company ended the quarter with $511.8 million in cash and $729 million in total debt, with $489.1 million available under its revolving credit facility. Inventories increased modestly by 3.2% sequentially. CEO Mark Barrocas highlighted the company's momentum and confidence in delivering strong, profitable growth despite macro uncertainties.