Clarus Corp

claruscorp.com

What Do They Do?

Sells climbing, skiing, and mountain-sports gear and apparel to outdoor enthusiasts, plus vehicle racks and recovery gear for off-road users.

How Do They Make Money?

Customers place individual product orders, paying on customary short-term credit terms or at the point of sale; the company receives payment around delivery, when products ship or are delivered depending on contract terms.

revenue

Segment	Share	Revenue	How money arrives
Outdoor Sold outright	71% FY2022: 71%		Sold outright
Adventure Sold outright	29% FY2022: 29%		Sold outright

Who Are Their Customers?

Most customers buy through specialty and outdoor retailers, distributors, and original equipment makers; consumers can also buy directly through Clarus’s websites.

Customers above 10% of revenue, FY2025

of revenue from one customer

FY2023: no customer at 10% or more of revenue

Do Revenues Turn Into Profits?

No. It lost $46.6M in FY2025.

Operating income, FY2025

−24% of revenue

▼ −15% (Loss) vs FY2024 (−$70.4M, −27%)

Net income, FY2025

−19% of revenue

▼ −11% (Loss) vs FY2024 (−$52.3M, −20%)

Free cash flow, FY2025

−4% of revenue

▼ −29% (Loss) vs FY2024 (−$14M, −5%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +2%; vs $55.2M in Q2 FY2025
Net income: ▲ Now profitable; vs −$8.4M in Q2 FY2025

Outdoor share of revenue vs 66.4% in Q2 FY2025

Aug 6, 2026 Acquired ONWRD Supply Co. brand and related assets The company said the addition complements its portfolio with in-vehicle accessories.

Flat. Revenue was $250.4M in FY2025, about the same as the $266M of FY2021.

Exit from ammunition Sierra and Barnes bullets and ammunition were in the earlier portfolio; the later report describes outdoor and vehicle-related products after the sale of Precision Sport.

More Adventure brands The earlier overview named Rhino-Rack and MAXTRAX in the Adventure business; the later one also describes TRED recovery gear and RockyMounts bicycle racks and accessories.

Revenue over time

Outdoor Adventure

$500M$250M$0

FY2021 FY2022 FY2023 FY2024 FY2025

Who Do They Compete With?

Competes with The North Face, Patagonia, La Sportiva, Prana, Hestra, Osprey, Arc’Teryx, Petzl, Mammut, Thule, Dometic, Yakima, Front Runner, REI, Mountain Equipment Co-op, and Decathlon

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