Form 8-K

8-K — Clarus Corp

Accession: 0001104659-26-092045

Filed: 2026-08-06

Period: 2026-08-06

CIK: 0000913277

SIC: 3949 ()

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — tm2622357d1_8k.htm (Primary)

EX-99.1 — EXHIBIT 99.1 (tm2622357d1_ex99-1.htm)

EX-99.2 — EXHIBIT 99.2 (tm2622357d1_ex99-2.htm)

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0000913277

2026-08-06

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United States

Securities and Exchange Commission

Washington, D.C. 20549

Form 8-K

Current Report

Pursuant to Section 13 or 15(d) of the Securities

Exchange Act of 1934

Date of Report (Date of earliest event

reported): August 6, 2026

CLARUS

CORPORATION

(Exact name of registrant as specified in its

charter)

Delaware

(State or other jurisdiction

of incorporation)

001-34767

(Commission File Number)

58-1972600

(IRS Employer

Identification Number)

2084

East 3900 South, Salt Lake City,

Utah

(Address of principal executive offices)

84124

(Zip Code)

Registrant’s telephone number, including

area code: (801) 278-5552

N/A

(Former name or former address, if changed since

last report.)

Check the appropriate box below if the Form 8-K

filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written

communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting

material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement

communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement

communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant

is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the

Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company

If an emerging growth company, indicate by check

mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting

standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Securities registered pursuant to Section 12(b) of the Act:

Title

of each class

Trading

Symbol

Name

of each exchange on which registered

Common

Stock, par value $.0001 per share

CLAR

NASDAQ

Global Select Market

Item 2.02 Results of Operations and Financial Condition

On August 6, 2026, Clarus Corporation (the “Company”)

issued a press release announcing its results for the second quarter ended June 30, 2026 (the “Press Release”). A copy of

the Press Release and an investor presentation regarding the Company’s results for the second quarter ended June 30, 2026 (the “Presentation”)

are furnished as Exhibits 99.1 and 99.2, respectively, and are incorporated herein by reference.

The Press Release and the Presentation contain

the non-GAAP measures: (i) adjusted gross margin and adjusted gross profit, (ii) adjusted net income (loss) and related earnings (loss)

per diluted share, (iii) earnings before interest, taxes, other income or expense, depreciation and amortization (“EBITDA”),

EBITDA margin, adjusted EBITDA, and adjusted EBITDA margin, and (iv) free cash flow (defined as net cash provided by operating activities

less capital expenditures). The Company believes that the presentation of certain non-GAAP measures, i.e.: (i) adjusted gross margin and

adjusted gross profit, (ii) adjusted net income (loss) and related earnings (loss) per diluted share, (iii) EBITDA, EBITDA margin, adjusted

EBITDA and adjusted EBITDA margin, and (iv) free cash flow, provides useful information for the understanding of its ongoing operations

and enables investors to focus on period-over-period operating performance, and thereby enhances the overall understanding of the Company’s

current financial performance relative to past performance and provides, along with the nearest GAAP measures, a baseline for modeling

future earnings expectations. Non-GAAP measures are reconciled to comparable GAAP financial measures within the Press Release and the

Presentation. We do not provide a reconciliation of the non-GAAP guidance measures adjusted EBITDA and/or adjusted EBITDA margin for the

fiscal year 2026 to net income for the fiscal year 2026, the most comparable GAAP financial measure, due to the inherent difficulty of

forecasting certain types of expenses and gains, without unreasonable effort, which affect net income but not adjusted EBITDA and/or adjusted

EBITDA margin. The Company cautions that non-GAAP measures should be considered in addition to, but not as a substitute for, the Company’s

reported GAAP results. Additionally, the Company notes that there can be no assurance that the above referenced non-GAAP financial measures

are comparable to similarly titled financial measures used by other publicly traded companies.

The information in Item 2.02 of this Current Report

on Form 8-K (including Exhibits 99.1 and 99.2) shall not be deemed “filed” for purposes of Section 18 of the Securities Act

of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except

as shall be expressly set forth by specific reference in such filing.

Item 9.01. Financial Statements and Exhibits

(d) Exhibits.

Exhibit

Description

99.1

Press Release dated August 6, 2026 (furnished only).

99.2

Investor Presentation dated August 6, 2026 (furnished only).

104

Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934,

as amended, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: August 6, 2026

CLARUS CORPORATION

By:

/s/ Michael J. Yates

Name:

Michael J. Yates

Title:

Chief Financial Officer

EX-99.1 — EXHIBIT 99.1

EX-99.1

Filename: tm2622357d1_ex99-1.htm · Sequence: 2

Exhibit 99.1

Clarus Reports Second Quarter

2026 Results

Grew Quarterly Sales at Outdoor by 8.5%

Increased Apparel Sales in Outdoor Segment for

Fifth Consecutive Quarter

Repurchased 153,331 Shares of Common Stock for

Approximately $0.4 Million

Jefferies LLC Continues to Assist the Company

with Evaluating Strategic Alternatives

SALT LAKE CITY, August 6, 2026 (GLOBE NEWSWIRE) -- Clarus

Corporation (NASDAQ: CLAR) (“Clarus” and/or the “Company”), a global company focused on the outdoor enthusiast

markets, reported financial results for the second quarter ended June 30, 2026.

Second Quarter 2026 Financial Summary vs. Same Year-Ago

Quarter

· Sales of $56.2 million compared to $55.2 million.

· The Company received a refund of approximately

$6.1 million related to previously paid International Emergency Economic Powers Act (“IEEPA”) tariffs, which was recorded

as an offset to cost of goods sold.

· Gross margin was 48.9% compared to 35.6%. Second

quarter 2026 gross margin includes a benefit of approximately 1,090 basis points from the recovery of IEEPA tariffs.

· Net income of $4.7 million with a net income

margin of 8.4%, or $0.12 per diluted share, compared to net loss of $8.4 million with a net loss margin of (15.3)%, or $(0.22) per diluted

share.

· Adjusted net income of $6.8 million, or $0.18

per diluted share, compared to adjusted net loss of $(3.1) million, or $(0.08) per diluted share.

· Adjusted EBITDA of $7.6 million with an adjusted

EBITDA margin of 13.6%, compared to Adjusted EBITDA loss of $(4.4) million with an adjusted EBITDA margin of (8.0)%.

Management Commentary

“Our second quarter results reflects disciplined

execution of our simplification strategy,” said Warren Kanders, Clarus’ Executive Chairman. “The IEEPA tariff refund

we recognized during the quarter lifted earnings and gross margin, but our underlying performance was solid and we continue to see encouraging

signs of progress across both segments. At Outdoor, where second quarter revenue, margin, and EBITDA all increased year-over-year, we

believe that the team’s hard work concentrating inventory on our highest-volume, highest-margin products is paying off. Our big

three Outdoor categories of Mountain, Climb, and Apparel drove 95% of total segment revenues, a testament to the deliberate actions we

have taken to prioritize Black Diamond’s best and most profitable styles. In the Adventure segment, we continue to carefully balance

targeted investments with ongoing cost and productivity initiatives. Notably, Adventure’s second quarter gross margin improved 420

basis points year-over-year driven by price growth and better segmentation across our retailer base.”

Mr. Kanders added, “Despite geopolitical and macroeconomic

headwinds, we continue to expect full-year revenue to fall within our previously provided guidance range. Outdoor has performed well in

a challenging market, and we remain confident that Black Diamond is positioned to capitalize on the growth opportunities ahead. With cleaner

inventory, less discounting, and a shift toward a full-price premium model, we are well positioned to drive improved profitability. At

Adventure, we have improved the organizational shape to capture more margin as the business re-scales. During the second quarter, we completed

the bolt-on acquisition of ONWRD Supply Co. brand and related assets, enhancing our portfolio mix with complementary, high margin in-vehicle

accessories. Overall, we remain committed to unlocking the intrinsic value of both segments and to maximizing long-term value for our

shareholders.”

Second Quarter 2026 Financial Results

On a consolidated basis, sales in the second quarter were

$56.2 million compared to $55.2 million in the same year-ago quarter, up 1.6%. Sales in the Outdoor segment increased 8.5% to $39.8 million,

compared to $36.7 million in the year-ago quarter. Sales in the Adventure segment decreased 11.9% to $16.4 million, compared to $18.6

million in the year-ago quarter.

Sales in the Outdoor segment increased due to increases

in global wholesale, independent global distributor, and global direct-to-consumer revenues, partially offset by lower PIEPS revenue due

to the sale of PIEPS in July 2025. Sales in the Adventure segment decreased due to an unfavorable wholesale market in Australia and North

America for Rhino-Rack and MAXTRAX, partially offset by favorable FX.

Gross margin in the second quarter was 48.9% compared to

35.6% in the year-ago quarter. The gross margin increase was primarily attributable to receiving $6.1 million of IEEPA tariff refunds,

higher volumes and a favorable product mix at the Outdoor segment, and a favorable product mix at the Adventure segment, which was partially

offset by lower volume at the Adventure segment.

Selling, general and administrative expenses in the second

quarter were $24.3 million compared to $26.9 million in the same year-ago quarter. Second quarter 2026 expenses reflect lower marketing

costs, depreciation, amortization and other expense reduction initiatives across both segments to manage costs and the removal of PIEPS

due to its sale during 2025.

Net income in the second quarter of 2026 was $4.7 million

with a net income margin of 8.4%, or $0.12 per diluted share, compared to net loss of $(8.4) million with a net loss margin of (15.3)%,

or $(0.22) per diluted share, in the year-ago quarter.

Adjusted net income in the second quarter of 2026 was $6.8

million, or $0.18 per diluted share, compared to adjusted net loss of $(3.1) million, or $(0.08) per diluted share, in the year-ago quarter.

Adjusted net income (loss) excludes amortization of intangibles, impairment of indefinite-lived intangible assets, restructuring charges,

transaction costs, contingent consideration benefit, and stock-based compensation.

Adjusted EBITDA in the second quarter was $7.6 million,

or an adjusted EBITDA margin of 13.6%, compared to adjusted EBITDA of $(4.4) million, or an adjusted EBITDA margin of (8.0)%, in the same

year-ago quarter.

Net cash provided by operating activities for the three

months ended June 30, 2026, was $1.7 million compared to net cash used in operating activities of $(9.4) million in the prior year quarter.

Capital expenditures in the second quarter of 2026 were $1.1 million compared to $1.9 million in the prior year quarter. Free cash flow

for the second quarter of 2026 was $0.6 million compared to an outflow of $11.3 million in the prior year quarter.

Liquidity at June 30, 2026 vs. December 31, 2025

· Cash and cash equivalents totaled $28.9 million

compared to $36.7 million.

· The balance sheet was debt free at the end of

both periods.

Stock Repurchase Program

During the second quarter, the Company repurchased 153,331

shares of its common stock for approximately $0.4 million, or $2.92 per share, leaving approximately $42.4 million remaining under its

$50 million stock repurchase program.

Acquisition of ONWRD

In June 2026, Rhino-Rack USA completed the acquisition

of certain assets and liabilities constituting ONWRD Supply Co. (“ONWRD”), an outdoor inspired accessories brand that makes

modular storage and organization systems for cars, trucks, vans, and SUVs. ONWRD’s products feature customizable panels, headrest

attachments, and pouches designed to keep gear secure during off-road or daily travel. The ONWRD business has been integrated into Rhino-Rack

USA’s existing operations in Colorado.

Strategic Review

The Company previously announced that its Board of Directors

initiated a comprehensive review of strategic alternatives to enhance shareholder value. The review includes a range of potential strategic

alternatives, including, among other things, the sale of all or part of the business or other strategic or financial transactions involving

the Company. The review has no deadline or definitive timetable and there can be no assurance that the review will result in any transaction

or other strategic outcome. The Company does not intend to disclose further developments regarding the review unless and until it determines

that further disclosure is appropriate or required. Clarus has retained Jefferies LLC as its financial advisor.

2026 Outlook

The Company continues to expect fiscal year 2026 sales

to range between $245 million and $255 million and now expects adjusted EBITDA to range between approximately $12 million and $13 million,

or an adjusted EBITDA margin of 5.0% at the mid-point of the revenue and adjusted EBITDA ranges. Capital expenditures are expected to

remain between $6 million and $7 million, consistent with the Company’s prior outlook, and free cash flow is now expected to be

$6 million for the full year 2026. For the third quarter of 2026, sales are expected to range between $66 million and $68 million, and

adjusted EBITDA is expected to be approximately $3 million.

Clarus has not provided net income or net cash provided

by operating activities guidance due to the inherent difficulty of forecasting certain expenses, gains, changes in working capital and

other items affecting those measures. Accordingly, the Company does not provide reconciliations of adjusted EBITDA, adjusted EBITDA margin

or free cash flow guidance to their most directly comparable GAAP measures for fiscal year 2026.

Conference Call

The Company will hold a conference call today at 5:00 p.m.

Eastern time to discuss its second quarter 2026 results.

Date: Thursday, August 6, 2026

Time: 5:00 pm ET

Registration Link: https://register-conf.media-server.com/register/BI19da625963174778be074ad27b47b34c

To access the call by phone, please register via the live

call registration link above and you will be provided with dial-in instructions and details. The conference call will be broadcast live

and available for replay here and on the Company’s website at www.claruscorp.com.

About Clarus Corporation

Headquartered in Salt Lake City, Utah, Clarus Corporation

is a global leader in the design and development of best-in-class equipment and lifestyle products for outdoor enthusiasts. Driven by

our rich history of engineering and innovation, our objective is to provide safe, simple, effective and beautiful products so that our

customers can maximize their outdoor pursuits and adventures. Each of our brands has a long history of continuous product innovation

for core and everyday users alike. The Company’s products are principally sold globally under the Black Diamond®,

Rhino-Rack®, MAXTRAX®, RockyMounts®, and Onwrd® brand names through outdoor

specialty and online retailers, our own websites, distributors, and original equipment manufacturers.

Use of Non-GAAP Measures

The Company reports its financial results in accordance

with U.S. generally accepted accounting principles (“GAAP”). This press release contains the non-GAAP measures: (i) adjusted

gross margin and adjusted gross profit, (ii) adjusted net income (loss) and related earnings (loss) per diluted share, (iii) earnings

before interest, taxes, other income or expense, depreciation and amortization (“EBITDA”), EBITDA margin, adjusted EBITDA,

and adjusted EBITDA margin, and (iv) free cash flow (defined as net cash provided by operating activities less capital expenditures).

The Company believes that the presentation of certain non-GAAP measures, i.e.: (i) adjusted gross margin and adjusted gross profit, (ii)

adjusted net income (loss) and related earnings (loss) per diluted share, (iii) EBITDA, EBITDA margin, adjusted EBITDA and adjusted EBITDA

margin, and (iv) free cash flow, provides useful information for the understanding of its ongoing operations and enables investors to

focus on period-over-period operating performance, and thereby enhances the user’s overall understanding of the Company’s

current financial performance relative to past performance and provides, along with the nearest GAAP measures, a baseline for modeling

future earnings expectations. Non-GAAP measures are reconciled to comparable GAAP financial measures within this press release. We do

not provide a reconciliation of the non-GAAP guidance measures adjusted EBITDA and/or adjusted EBITDA margin for the fiscal year 2026

to net income for the fiscal year 2026, the most comparable GAAP financial measure, due to the inherent difficulty of forecasting certain

types of expenses and gains, without unreasonable effort, which affect net income but not adjusted EBITDA and/or adjusted EBITDA margin.

The Company cautions that non-GAAP measures should be considered in addition to, but not as a substitute for, the Company’s reported

GAAP results. Additionally, the Company notes that there can be no assurance that the above referenced non-GAAP financial measures are

comparable to similarly titled financial measures used by other publicly traded companies.

Forward-Looking Statements

Please note that in this press release we may use words such

as “appears,” “anticipates,” “believes,” “plans,” “expects,” “intends,”

“future,” and similar expressions which constitute forward-looking statements within the meaning of the safe harbor provisions

of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are made based on our expectations and beliefs concerning

future events impacting the Company and therefore involve a number of risks and uncertainties. We caution that forward-looking statements

are not guarantees and that actual results could differ materially from those expressed or implied in the forward-looking statements.

Potential risks and uncertainties that could cause the actual results of operations or financial condition of the Company to differ materially

from those expressed or implied by forward-looking statements in this press release, include, but are not limited to, risks and uncertainties

related to the Company’s review of strategic alternatives, including the timing and outcome of the review, whether the review results

in any transaction or other strategic outcome, whether and when the Company provides further updates, and the potential impact of the

review on the Company’s business and operations, as well as those risks and uncertainties more fully described from time to time

in the Company’s public reports filed with the Securities and Exchange Commission, including under the section titled “Risk

Factors” in the Company’s Annual Report on Form 10-K, and/or Quarterly Reports on Form 10-Q, as well as in the Company’s

Current Reports on Form 8-K. All forward-looking statements included in this press release are based upon information available to the

Company as of the date of this press release and speak only as of the date hereof. We assume no obligation to update any forward- looking

statements to reflect events or circumstances after the date of this press release.

Company Contact:

Michael J. Yates

Chief Financial Officer

mike.yates@claruscorp.com

Investor Relations:

The IGB Group

Leon Berman / Matt Berkowitz

Tel 1-212-477-8438 / 1-212-227-7098

lberman@igbir.com /

mberkowitz@igbir.com

CLARUS CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)

(In

thousands, except per share amounts)

June 30, 2026

December 31, 2025

Assets

Current assets

Cash

$ 28,925

$ 36,691

Accounts receivable, less allowance for

credit losses of $1,269 and $1,121

43,119

44,839

Inventories

92,008

83,028

Prepaid and other current assets

8,076

5,457

Income tax receivable

1,427

1,407

Total current assets

173,555

171,422

Property and equipment, net

18,867

18,255

Other intangible assets, net

21,565

23,761

Indefinite-lived intangible assets

19,600

Deferred income taxes

Other long-term assets

21,188

15,935

Total assets

$ 254,830

$ 249,028

Liabilities and Stockholders’ Equity

Current liabilities

Accounts payable

$ 17,861

$ 15,907

Accrued liabilities

20,843

24,403

Income tax payable

320

179

Total current liabilities

39,024

40,489

Deferred income taxes

1,301

1,418

Other long-term liabilities

16,433

10,728

Total liabilities

56,758

52,635

Stockholders’ Equity

Preferred stock, $0.0001 par value per share; 5,000 shares authorized; none issued

Common stock, $0.0001 par value per share; 100,000 shares authorized; 43,104 and 43,054 issued and 38,288 and 38,402 outstanding, respectively

Additional paid in capital

704,909

703,487

Accumulated deficit

(457,756 )

(457,253 )

Treasury stock, at cost

(33,635 )

(33,156 )

Accumulated other comprehensive loss

(15,450 )

(16,689 )

Total stockholders’ equity

198,072

196,393

Total liabilities and stockholders’ equity

$ 254,830

$ 249,028

CLARUS CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS)

(Unaudited)

(In

thousands, except per share amounts)

Three Months Ended

June 30, 2026

June 30, 2025

Sales

Domestic sales

$ 24,522

$ 24,724

International sales

31,634

30,523

Total sales

56,156

55,247

Cost of goods sold

28,684

35,567

Gross profit

27,472

19,680

Operating expenses

Selling, general and administrative

24,303

26,910

Restructuring charges

140

161

Transaction costs

108

Contingent consideration benefit

(254 )

Legal and regulatory matter (benefit) costs

(1,299 )

1,837

Impairment of indefinite-lived intangible assets

1,565

Total operating expenses

22,912

30,581

Operating income (loss)

4,560

(10,901 )

Other income

Interest income, net

153

Other, net

1,483

Total other income, net

176

1,636

Income (loss) before income tax

4,736

(9,265 )

Income tax expense (benefit)

(831 )

Net income (loss)

$ 4,714

$ (8,434 )

Net income (loss) per share:

Basic

$ 0.12

$ (0.22 )

Diluted

0.12

(0.22 )

Weighted average shares outstanding:

Basic

38,369

38,402

Diluted

38,369

38,402

CLARUS CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS)

(Unaudited)

(In

thousands, except per share amounts)

Six Months Ended

June 30, 2026

June 30, 2025

Sales

Domestic sales

$ 49,402

$ 49,533

International sales

68,692

66,147

Total sales

118,094

115,680

Cost of goods sold

67,859

75,206

Gross profit

50,235

40,474

Operating expenses

Selling, general and administrative

50,880

53,526

Restructuring charges

993

334

Transaction costs

250

Contingent consideration benefit

(254 )

Legal and regulatory matter costs

2,462

Impairment of indefinite-lived intangible assets

1,565

Total operating expenses

51,743

58,137

Operating loss

(1,508 )

(17,663 )

Other income

Interest income, net

172

410

Other, net

3,000

1,942

Total other income, net

3,172

2,352

Income (loss) before income tax

1,664

(15,311 )

Income tax expense (benefit)

245

(1,633 )

Net income (loss)

$ 1,419

$ (13,678 )

Net income (loss) per share:

Basic

$ 0.04

$ (0.36 )

Diluted

0.04

(0.36 )

Weighted average shares outstanding:

Basic

38,389

38,384

Diluted

38,390

38,384

CLARUS CORPORATION

RECONCILIATION FROM GROSS PROFIT TO ADJUSTED GROSS PROFIT

AND

ADJUSTED GROSS MARGIN

THREE MONTHS ENDED

June 30, 2026

June 30, 2025

Sales

$ 56,156

Sales

$ 55,247

Gross profit as reported

$ 27,472

Gross profit as reported

$ 19,680

Adjusted gross profit

$ 27,472

Adjusted gross profit

$ 19,680

Gross margin as reported

48.9 %

Gross margin as reported

35.6 %

Adjusted gross margin

48.9 %

Adjusted gross margin

35.6 %

SIX MONTHS ENDED

June 30, 2026

June 30, 2025

Sales

$ 118,094

Sales

$ 115,680

Gross profit as reported

$ 50,235

Gross profit as reported

$ 40,474

Plus impact of inventory fair value adjustment

120

Adjusted gross profit

$ 50,235

Adjusted gross profit

$ 40,594

Gross margin as reported

42.5 %

Gross margin as reported

35.0 %

Adjusted gross margin

42.5 %

Adjusted gross margin

35.1 %

CLARUS CORPORATION

RECONCILIATION

FROM NET INCOME (LOSS) TO ADJUSTED NET INCOME (LOSS)

AND RELATED EARNINGS PER DILUTED SHARE

(In

thousands, except per share amounts)

Three Months Ended June 30, 2026

Total

Gross

Operating

Income tax

Tax

Net

Diluted

sales

profit

expenses

expense

rate

income

EPS (1)

As reported

$ 56,156

$ 27,472

$ 22,912

$ 22

(0.5 )%

$ 4,714

$ 0.12

Amortization of intangibles

(1,906 )

1,897

Restructuring charges

(140 )

140

Transaction costs

(22 )

Contingent consideration benefit

254

(254 )

Stock-based compensation

(268 )

268

As adjusted

$ 56,156

$ 27,472

$ 20,830

$ 31

0.5 %

$ 6,787

$ 0.18

(1) Potentially dilutive securities are excluded from the computation of diluted earnings (loss) per share if their effect is anti-dilutive to net loss. Reported net income per share and adjusted net income per share are both calculated based on 38,369 diluted weighted average shares of common stock.

Three Months Ended June 30, 2025

Total

Gross

Operating

Income tax

Tax

Net

Diluted

sales

profit

expenses

benefit

rate

loss

EPS (1)

As reported

$ 55,247

$ 19,680

$ 30,581

$ (831 )

(9.0 )%

$ (8,434 )

$ (0.22 )

Amortization of intangibles

(2,213 )

217

1,996

Impairment of indefinite-lived intangible assets

(1,565 )

1,565

Restructuring charges

(161 )

145

Transaction costs

(108 )

Stock-based compensation

(1,554 )

1,497

As adjusted

$ 55,247

$ 19,680

$ 24,980

$ (531 )

14.5 %

$ (3,133 )

$ (0.08 )

(1) Potentially dilutive securities are excluded from the computation of diluted earnings (loss) per share if their effect is anti-dilutive to net loss. Reported net loss per share and adjusted net loss per share are both calculated based on 38,402 basic and diluted weighted average shares of common stock.

CLARUS CORPORATION

RECONCILIATION

FROM NET INCOME (LOSS) TO ADJUSTED NET INCOME (LOSS)

AND RELATED EARNINGS PER DILUTED SHARE

(In thousands, except per share amounts)

Six Months Ended June 30, 2026

Total

Gross

Operating

Income tax

Tax

Net

Diluted

sales

profit

expenses

expense

rate

income

EPS (1)

As reported

$ 118,094

$ 50,235

$ 51,743

$ 245

(14.7 )%

$ 1,419

$ 0.04

Amortization of intangibles

(3,843 )

3,820

Restructuring charges

(993 )

993

Transaction costs

(44 )

Contingent consideration benefit

254

(254 )

Stock-based compensation

(1,422 )

1,422

As adjusted

$ 118,094

$ 50,235

$ 45,695

$ 268

3.5 %

$ 7,444

$ 0.19

(1) Potentially dilutive securities are excluded from the computation of diluted earnings (loss) per share if their effect is anti-dilutive to net loss. Reported net income per share and adjusted net income per share are both calculated based on 38,390 diluted weighted average shares of common stock.

Six Months Ended June 30, 2025

Total

Gross

Operating

Income tax

Tax

Net

Diluted

sales

profit

expenses

benefit

rate

loss

EPS (1)

As reported

$ 115,680

$ 40,474

$ 58,137

$ (1,633 )

(10.7 )%

$ (13,678 )

$ (0.36 )

Amortization of intangibles

(4,437 )

512

3,925

Impairment of indefinite-lived intangible assets

(1,565 )

1,565

Disposal of internally developed software

(365 )

317

Restructuring charges

(334 )

295

Transaction costs

(250 )

221

Inventory fair value of purchase accounting

120

104

Stock-based compensation

(3,023 )

105

2,918

As adjusted

$ 115,680

$ 40,594

$ 48,163

$ (884 )

16.9 %

$ (4,333 )

$ (0.11 )

(1) Potentially dilutive securities are excluded from the computation of diluted earnings (loss) per share if their effect is anti-dilutive to net loss. Reported net loss per share and adjusted net loss per share are both calculated based on 38,384 basic and diluted weighted average shares of common stock.

CLARUS CORPORATION

RECONCILIATION

FROM CONSOLIDATED NET INCOME (LOSS) AND NET INCOME (LOSS) MARGIN TO EARNINGS BEFORE INTEREST, TAXES, DEPRECIATION, AND AMORTIZATION (EBITDA),

EBITDA MARGIN, ADJUSTED EBITDA, AND ADJUSTED EBITDA MARGIN

(In

thousands)

Three Months Ended June 30, 2026

Three Months Ended June 30, 2025

Outdoor

Segment

Adventure

Segment

Corporate

Costs

Total (1)

Outdoor

Segment

Adventure

Segment

Corporate

Costs

Total (1)

Net income (loss)

$ 4,714

$ (8,434 )

Income tax expense (benefit)

(831 )

Other, net

(92 )

(1,483 )

Interest income, net

(84 )

(153 )

Operating income (loss)

$ 8,177

$ (1,333 )

$ (2,284 )

$ 4,560

$ (4,242 )

$ (2,203 )

$ (4,456 )

$ (10,901 )

Depreciation

616

322

1,000

534

343

877

Amortization of intangibles

162

1,744

1,906

245

1,968

2,213

EBITDA

$ 8,955

$ 733

$ (2,222 )

$ 7,466

$ (3,463 )

$ 108

$ (4,456 )

$ (7,811 )

Restructuring charges

140

(42 )

203

161

Transaction costs

108

Contingent consideration benefit

(254 )

Impairment of indefinite-lived intangible assets

1,565

Stock-based compensation

268

1,554

Adjusted EBITDA (2)

$ 9,047

$ 527

$ (1,932 )

$ 7,642

$ (1,854 )

$ 311

$ (2,880 )

$ (4,423 )

Sales

$ 39,776

$ 16,380

$ -

$ 56,156

$ 36,661

$ 18,586

$ -

$ 55,247

Net income (loss) margin

8.4 %

(15.3 )%

EBITDA margin

22.5 %

4.5 %

13.3 %

(9.4 )%

0.6 %

(14.1 )%

Adjusted EBITDA margin

22.7 %

3.2 %

13.6 %

(5.1 )%

1.7 %

(8.0 )%

(1) The

Company reconciles consolidated Net income (loss) to EBITDA and Adjusted EBITDA as it has historically not allocated Income tax expense

(benefit), Other, net, and Interest income, net to the segments or to Corporate.

(2) Beginning in the first quarter of 2026, the Company will no longer add back Legal costs and regulatory matter expenses or Other inventory reserves to Adjusted EBITDA. During the three months ended June 30, 2025, the Company included an adjustment related to Legal costs and regulatory matter expenses of $1,837 ($1,150 recorded at the Outdoor segment and $687 recorded in Corporate costs) and Other inventory reserves of $490 at the Outdoor segment. The three months ended June 30, 2025 reconciliation has been restated to conform to the 2026 presentation.

CLARUS CORPORATION

RECONCILIATION

FROM CONSOLIDATED NET INCOME (LOSS) AND NET INCOME (LOSS) MARGIN TO EARNINGS BEFORE INTEREST, TAXES, DEPRECIATION, AND AMORTIZATION (EBITDA),

EBITDA MARGIN, ADJUSTED EBITDA, AND ADJUSTED EBITDA MARGIN

(In thousands)

Six Months Ended June 30, 2026

Six Months Ended June 30, 2025

Outdoor

Segment

Adventure

Segment

Corporate

Costs

Total (1)

Outdoor

Segment

Adventure

Segment

Corporate

Costs

Total (1)

Net income (loss)

$ 1,419

$ (13,678 )

Income tax expense (benefit)

245

(1,633 )

Other, net

(3,000 )

(1,942 )

Interest income, net

(172 )

(410 )

Operating income (loss)

$ 7,959

$ (3,170 )

$ (6,297 )

$ (1,508 )

$ (4,120 )

$ (5,257 )

$ (8,286 )

$ (17,663 )

Depreciation

1,251

611

125

1,987

1,040

720

1,760

Amortization of intangibles

384

3,459

3,843

528

3,909

4,437

EBITDA

$ 9,594

$ 900

$ (6,172 )

$ 4,322

$ (2,552 )

$ (628 )

$ (8,286 )

$ (11,466 )

Restructuring charges

885

108

993

131

203

334

Transaction costs

156

250

Contingent consideration benefit

(254 )

Impairment of indefinite-lived intangible assets

1,565

Disposal of internally developed software

365

Stock-based compensation

1,422

3,023

Inventory fair value of purchase accounting

120

Adjusted EBITDA (2)

$ 10,479

$ 754

$ (4,706 )

$ 6,527

$ (700 )

$ 100

$ (5,209 )

$ (5,809 )

Sales

$ 84,648

$ 33,446

$ -

$ 118,094

$ 80,984

$ 34,696

$ -

$ 115,680

Net income (loss) margin

1.2 %

(11.8 )%

EBITDA margin

11.3 %

2.7 %

3.7 %

(3.2 )%

(1.8 )%

(9.9 )%

Adjusted EBITDA margin

12.4 %

2.3 %

5.5 %

(0.9 )%

0.3 %

(5.0 )%

(1) The

Company reconciles consolidated Net income (loss) to EBITDA and Adjusted EBITDA as it has historically not allocated Income tax expense

(benefit), Other, net, and Interest income, net to the segments or to Corporate.

(2) Beginning in the first quarter of 2026, the Company will no longer add back Legal costs and regulatory matter expenses or Other inventory reserves to Adjusted EBITDA. During the six months ended June 30, 2025, the Company included an adjustment related to Legal costs and regulatory matter expenses of $2,462 ($1,728 recorded at the Outdoor segment and $734 recorded in Corporate costs) and Other inventory reserves of $490 at the Outdoor segment. The six months ended June 30, 2025 reconciliation has been restated to conform to the 2026 presentation.

EX-99.2 — EXHIBIT 99.2

EX-99.2

Filename: tm2622357d1_ex99-2.htm · Sequence: 3

Exhibit 99.2

Q2 EARNINGS

PRESENTATION

AUGUST 6, 2026

6 February 2023

PAGE 2

Forward -Looking Statements

Please note that in this presentation we may use words such as “appears,” “anticipates,” “believes,” “plans,” “expects,” “intends,” “future,” and similar expressions which constitute forward-looking statements

within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are made based on our expectations and beliefs concerning future events

impacting the Company and therefore involve a number of risks and uncertainties. We caution that forward-looking statements are not guarantees and that actual results could differ materially from those

expressed or implied in the forward-looking statements. Potential risks and uncertainties that could cause the actual results of operations or financial condition of the Company to differ materially from those

expressed or implied by forward-looking statements in this presentation, include, but are not limited to, risks and uncertainties related to the Company’s review of strategic alternatives, including the timing and

outcome of the review, whether and when the Company provides further updates, and the potential impact of the review on the Company’s business and operations, as well as those risks and uncertainties more

fully described from time to time in the Company's public reports filed with the Securities and Exchange Commission, including under the section titled “Risk Factors” in the Company's Annual Report on Form 10-

K, and/or Quarterly Reports on Form 10-Q, as well as in the Company’s Current Reports on Form 8-K. All forward-looking statements included in this presentation are based upon information available to the

Company as of the date of this presentation and speak only as of the date hereof. We assume no obligation to update any forward- looking statements to reflect events or circumstances after the date of this

presentation.

Non-GAAP Financial Measures

The Company reports its financial results in accordance with U.S. generally accepted accounting principles (“GAAP”). This presentation contains the non-GAAP measures: (i) adjusted gross margin and adjusted

gross profit, (ii) adjusted net income (loss) and related earnings (loss) per diluted share, (iii) earnings before interest, taxes, other income or expense, depreciation and amortization (“EBITDA”), EBITDA margin,

adjusted EBITDA, and adjusted EBITDA margin, and (iv) free cash flow (defined as net cash provided by operating activities less capital expenditures). The Company believes that the presentation of certain non-GAAP measures, i.e.: (i) adjusted gross margin and adjusted gross profit, (ii) adjusted net income (loss) and related earnings (loss) per diluted share, (iii) EBITDA, EBITDA margin, adjusted EBITDA and adjusted

EBITDA margin, and (iv) free cash flow, provide useful information for the understanding of its ongoing operations and enables investors to focus on period-over-period operating performance, and thereby

enhances the user's overall understanding of the Company's current financial performance relative to past performance and provides, along with the nearest GAAP measures, a baseline for modeling future

earnings expectations. Non-GAAP measures are reconciled to comparable GAAP financial measures within this presentation. We do not provide a reconciliation of the non-GAAP guidance measures adjusted

EBITDA and/or adjusted EBITDA margin for the fiscal year 2026 to net income for the fiscal year 2026, the most comparable GAAP financial measure, due to the inherent difficulty of forecasting certain types of

expenses and gains, without unreasonable effort, which affect net income but not adjusted EBITDA and/or adjusted EBITDA margin. The Company cautions that non-GAAP measures should be considered in

addition to, but not as a substitute for, the Company's reported GAAP results. Additionally, the Company notes that there can be no assurance that the above referenced non-GAAP financial measures are

comparable to similarly titled financial measures used by other publicly traded companies.

Market and Industry Data

The market and industry data used throughout this presentation was obtained from various sources, including the Company’s own research and estimates, surveys or studies conducted by third parties and

industry or general publications and forecasts. Industry publications, surveys and forecasts generally state that they have obtained information from sources believed to be reliable, but there can be no assurance

as to the accuracy and completeness of such information. While the Company believes that each of these surveys, studies, publications and forecasts is reliable, it has not independently verified such data and the

Company is not making any representation as to the accuracy of such information. Similarly, the Company believes its internal research and estimates are reliable but it has not been verified by any independent

sources. In addition, while the Company believes that the industry and market information included herein is generally reliable, such information is inherently imprecise. While the Company is not aware of any

misstatements regarding the industry and market data presented herein, its estimates involve risks and uncertainties and are subject to change based on various factors, including those discussed under the

heading “Forward-Looking Statements” above.

DISCLAIMER

Warren Kanders

EXECUTIVE CHAIRMAN

Clarus

TODAY’S PRESENTERS

Mike Yates

CFO

Clarus

Neil Fiske

PRESIDENT

Black Diamond Equipment

6 February 2023

PAGE 4

STRATEGIC PRIORITIES: Q2 HIGHLIGHTS

Positioned for long -term

sustainable growth Strategic roadmap continues to guide execution

Black Diamond objective :

Simplify and focus on the core

Improving profitability driven by cleaner inventory, less

discounting, and shift toward full -price premium model

Adventure objective:

Focus on the basics

Taking decisive actions on the cost side, while rebasing

product initiatives to drive newness and growth

Strong balance sheet/prudent

capital allocation

Debt-free with $28.9M of cash on the balance sheet at

6/30; repurchased 153.3K shares during Q2 for ~$0.4M, or

$2.92 per share

Commitment to operational and organizational progress despite challenging

macro backdrop

$56.2 m $16.4m $39.8m 48.9% 1 $7.6m

Revenue

+ 1.6% Y/Y

Adventure Revenue

- 11.9% Y/Y

Outdoor Revenue

+ 8.5% Y/Y

Gross Margin

+ 1330 BPS Y/Y

Adj. EBITDA

+ $12.1m Y/Y

SECOND QUARTER RESULTS AT A GLANCE

Adventure

Adj. EBITDA:

$0.5m

Outdoor

Adj. EBITDA:

$9.0m

1 Includes a benefit of approximately 1,090 basis points from the recovery of IEEPA tariffs.

6 February 2023

PAGE 6

OUTDOOR - STRATEGIC PRIORITIES AND HIGHLIGHTS

• Revenue, margin, and EBITDA all ahead of prior year

• Big three business unit (Mountain, Climb and Apparel) sales up

~10% y/y and now account for 95% of total sales

• Full price Apparel sales increased 23% y/y

• Excluding tariff refund, gross margins lifted 160 bps to 36.6%

• Continued progress enhancing quality of inventory, focusing on

most profitable categories, and less discounting

• Core of business is healthy and growing, reflected in increased

inventory position

• EU wholesale up 25.3% in dollars and 16.7% in constant currency

• Strong 2H26 expected as product and brand message continues

to resonate with consumer

BUILDING BLOCKS IN FOCUS MANAGEMENT COMMENTARY

SIMPLIFICATION EXECUTION

PRODUCT LEADERSHIP

FEWER, BIGGER, BETTER

6 February 2023

PAGE 7

ADVENTURE - STRATEGIC PRIORITIES AND HIGHLIGHTS

• Challenging macro environment in both Australia and North

America drove weaker Q2 sales

• Focus on driving margin expansion, maintaining cost discipline,

and improving operational efficiency

• Gross margin hit 41.5% in Q2 —up 420 bps y/y

• Delivered double -digit growth in France, Germany, U.K. and Japan

• RockyMounts showing increased traction in both Australian

market and Americas

• Acquired ONWRD Supply Co., enhancing portfolio mix with

complementary, high margin in -vehicle accessories

• Focused on maintaining gross margin improvement realized in Q2

despite moderate sales expectations for 2H26

BUILDING BLOCKS IN FOCUS MANAGEMENT COMMENTARY

FOCUS ON BASICS

RATIONALIZED NPD PIPELINE

IMPROVED CUSTOMER

SEGMENTATION

6 February 2023

PAGE 8

NET SALES

Q2 2026 FINANCIAL RESULTS

Q2 2026

GROSS MARGIN

ADJ. EBITDA

ADJ. EBITDA MARGIN 13.6%

$7.6M

48.9%

$56.2M

Q2 2025

(8.0)%

($4.4M)

35.6%

$55.2M

Q2 2026 gross margin, Adj. EBITDA, and Adj. EBITDA margin include a benefit of $6.1M from

the recovery of IEEPA tariffs at the Outdoor segment

6 February 2023

PAGE 9

NET SALES

FULL YEAR GUIDANCE

ADJ. CORPORATE COSTS

ADJ. EBITDA 1

MID-POINT ADJ. EBITDA %

CAPEX

FREE CASH FLOWS

$245M - $255M

$6M - $7M

$12M - $13M

5.0%

$8M

$6M

2026

1 The revised adjusted EBITDA guidance includes $6.1M of IEEPA tariff refund at the Outdoor segment and $2.0M of legal expenses that will not be incurred in

2H2026 since the CPSC/DoJ legal matter has been resolved

Q3 2026 guidance: Net sales between $66 -$68 million; Adj. EBITDA of $3M

APPENDIX

6 February 2023

PAGE 11

BALANCE SHEET

6 February 2023

PAGE 12

INCOME STATEMENT (Q2)

6 February 2023

PAGE 13

INCOME STATEMENT (YTD)

6 February 2023

PAGE 14

NON-GAAP RECONCILIATION

6 February 2023

PAGE 15

NON-GAAP RECONCILIATION (Q2)

6 February 2023

PAGE 16

NON-GAAP RECONCILIATION (YTD)

6 February 2023

PAGE 17

NON-GAAP RECONCILIATION (Q2)

6 February 2023

PAGE 18

NON-GAAP RECONCILIATION (YTD)

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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- Definition

Local phone number for entity.

+ References

No definition available.

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

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- Definition

Title of a 12(b) registered security.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

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Name of the Exchange on which a security is registered.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

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Trading symbol of an instrument as listed on an exchange.

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No definition available.

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

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