SharkNinja, Inc. (SN): Results of Operations and Financial Condition
SharkNinja, Inc. (SN) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 SharkNinja Reports Second Quarter 2026 Results Raises Fiscal Year 2026 Outlook Across Key Metrics on Strong Operational Performance NEEDHAM, Massachusetts, August 5, 2026 – SharkNinja, Inc. (“SharkNinja” or the “Company”) (NYSE: SN), a global product design and techn
How this was made
The 30-second read
Why it matters
The filing combines strong top-line growth, improved adjusted profitability, and an explicit fiscal 2026 outlook raise, while attributing gross margin declines to tariffs, FX, and retailer activations.
Market read
Traders can update valuation and positioning based on the quantified Q2 performance and the stated FY2026 outlook raise, while monitoring tariff and FX-driven margin risk.
What to watch
Inventory rose 14.1% to $1.14B, which could foreshadow future promotional intensity or working-capital drag if demand softens.
SharkNinja Reports Second Quarter 2026 Results Raises Fiscal Year 2026 Outlook Across Key Metrics on Strong Operational Performance
Net sales increased 22.2%, all four product categories grew, International net sales increased 36.6%, and the Company raised fiscal 2026 net sales, Adjusted Net Income per diluted share, and Adjusted EBITDA expectations. GAAP net income and GAAP net income per diluted share declined, while gross margins narrowed amid tariff, foreign-exchange, and retailer-activation pressures.
Key metrics
as reported| Metric | Value | q/q | y/y |
|---|---|---|---|
| Net salesGAAP | $1,765.5 million | – | increased 22.2% |
| Net sales constant currency growthother | 21.6% | – | 21.6% on a constant currency basis |
| Domestic net sales increaseGAAP | $153.4 million | – | 15.5% |
| International net sales increaseGAAP | $167.2 million | – | 36.6% |
| Gross profitGAAP | $860.3 million | – | increased 21.5% |
| Gross marginGAAP | 48.7% of net sales | – | decreased 30 basis points |
| Adjusted Gross Profitnon-GAAP | $860.3 million | – | increased 20.4% |
| Adjusted Gross Marginnon-GAAP | 48.7% of net sales | – | decreased 70 basis points |
| Research and development expensesGAAP | $109.3 million | – | increased 22.3% |
| Research and development expenses as a percentage of net salesGAAP | 6.2% of net sales | – | – |
| Sales and marketing expensesGAAP | $441.5 million | – | increased 23.4% |
| Sales and marketing expenses as a percentage of net salesGAAP | 25.0% of net sales | – | – |
| General and administrative expensesGAAP | $130.1 million | – | increased 40.8% |
| General and administrative expenses as a percentage of net salesGAAP | 7.4% of net sales | – | – |
| Operating incomeGAAP | $179.4 million | – | increased 6.4% |
| Operating income as a percentage of net salesGAAP | 10.1% of net sales | – | – |
| Adjusted Operating Incomenon-GAAP | $231.5 million | – | increased 19.6% |
| Adjusted Operating Income as a percentage of net salesnon-GAAP | 13.1% of net sales | – | – |
| Net incomeGAAP | $129.8 million | – | decreased 7.0% |
| Net income as a percentage of net salesGAAP | 7.4% of net sales | – | – |
| Net income per diluted shareGAAP | $0.92 | – | decreased 6.1% |
| Adjusted Net Incomenon-GAAP | $178.2 million | – | increased 29.3% |
| Adjusted Net Income as a percentage of net salesnon-GAAP | 10.1% of net sales | – | – |
| Adjusted Net Income per diluted sharenon-GAAP | $1.26 | – | increased 29.9% |
| Adjusted EBITDAnon-GAAP | $264.9 million | – | increased 18.6% |
| Adjusted EBITDA as a percentage of net salesnon-GAAP | 15.0% of net sales | – | – |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| Cleaning AppliancesDriven by the carpet extractor and cordless vacuums sub-categories. | $522.0 million | – | increased 4.1% |
| Cooking and Beverage AppliancesDriven by sales of our Ninja Luxe Café espresso machine and the strength of the Ninja Crispi. | $499.0 million | – | increased 36.5% |
| Food Preparation AppliancesDriven by strong growth in our blending sub-category. | $458.6 million | – | increased 13.3% |
| Beauty and Home Environment AppliancesDriven by continued strength of our skincare and fan product portfolios. | $285.8 million | – | increased 65.3% |
Fiscal year 2026 outlook
- RevenueNet sales to increase 16.0% to 17.0% compared to the prior year
- Tax rateA GAAP effective tax rate of approximately 22.0% to 23.0%.
- NoteAdjusted Net Income per diluted share between $6.45 and $6.55, reflecting a 22.2% to 24.1% increase compared to the prior year.
- NoteOf the $0.45 increase, approximately $0.15 is associated with the expected net tariff refund benefit.
- NoteAdjusted EBITDA between $1,357 million and $1,369 million, reflecting a 19.5% to 20.5% increase compared to the prior year.
- NoteOf the $67 million to $69 million increase, approximately $30 million is associated with the expected net tariff refund benefit.
- NoteDiluted weighted average shares outstanding of approximately 142.5 million.
- NoteCapital expenditures in the range of $190 million to $210 million primarily to support investments in new product launches and technology.
Capital returns
- During the three months ended June 30, 2026, the Company repurchased 815,233 ordinary shares under its $750.0 million share repurchase program at an aggregate cost of $99.7 million, at an average price of $122.29 per share.
- During the six months ended June 30, 2026, the Company repurchased 1,008,368 ordinary shares under its $750.0 million share repurchase program at an aggregate cost of $119.7 million, at an average price of $118.71 per share.
- The Board of Directors authorized the $750.0 million share repurchase program on February 11, 2026.
What drove it
- Net sales growth resulted from growth in Cooking and Beverage Appliances, Beauty and Home Environment Appliances, Food Preparation Appliances and Cleaning Appliances.
- Domestic growth was driven by growth within existing categories and the success of new product categories.
- International growth was driven by continued success within core categories into new international markets and consistent growth in key international countries.
- Gross-margin pressure was primarily driven by tariffs in the U.S. market, unfavorable foreign currency, and increased retailer activations.
- Gross-margin pressures were partially offset by cost optimization efforts, favorable shifts in categories and channels, and a decline in amounts owed under a contractual sourcing service fee paid to JS Global for supply chain services, which ended July 31, 2025.
- Research and development expense growth reflected increased headcount to support new product categories and new market expansion, as well as higher prototypes and testing costs.
- Sales and marketing expense growth reflected higher delivery and distribution costs, advertising-related expenses, personnel-related expenses, credit card processing and merchant fees, and product sample costs.
- General and administrative expense growth was primarily driven by higher personnel-related expenses, including higher share-based compensation, and professional and consulting fees.
Concerns
- GAAP gross margin decreased 30 basis points and Adjusted Gross Margin decreased 70 basis points.
- Operating income as a percentage of net sales was 10.1% compared to 11.6% in the prior year quarter, while Adjusted Operating Income as a percentage of net sales was 13.1% compared to 13.4%.
- Net income decreased 7.0% and net income per diluted share decreased 6.1%.
- General and administrative expenses increased 40.8%, including a $22.6 million increase in share-based compensation.
- Inventories increased 14.1% to $1,143.6 million.
- The outlook assumes current tariff levels, including minimum rates of 10% for Indonesia, Malaysia, and Cambodia, and 12.5% for China, Vietnam, and Thailand, persist for the remainder of 2026.
What to watch
- Execution of the fiscal 2026 outlook for net sales growth of 16.0% to 17.0%.
- The timing and recognition of the approximately $247.1 million tariff-refund benefit in the third quarter of 2026.
- The Company stated that refunds associated with tariffs expensed in 2025 will benefit GAAP results and cash flow but will be excluded from Adjusted Net Income, Adjusted EBITDA, and Adjusted Net Income per diluted share.
- The Company stated that refunds associated with tariffs incurred in 2026 will be reflected in revised full-year Adjusted metrics and may be reinvested in retail activation, media, technology and AI capabilities, and mitigation of updated tariff and input-cost pressures.
- Whether category growth, particularly Cooking and Beverage Appliances and Beauty and Home Environment Appliances, continues through the second half of the year.
- Gross-margin effects from tariffs, foreign currency, retailer activations, category and channel shifts, and cost optimization efforts.
Balance sheet and cash flow
- As of June 30, 2026, cash and cash equivalents were $779.8 million.
- Available capacity under the revolving credit facility was $489.8 million as of June 30, 2026.
- Total debt, excluding unamortized deferred financing costs, was $718.9 million as of June 30, 2026.
- Inventories increased 14.1% to $1,143.6 million as of June 30, 2026, compared to $1,002.2 million as of December 31, 2025.
- In Q3 2026, SharkNinja submitted refund claims of approximately $247.1 million through the U.S. Customs and Border Protection refund process, and the CBP accepted those claims.
- The Company expects to recognize a benefit of approximately $247.1 million as a reduction of cost of sales, with a corresponding receivable, in the third quarter of 2026.
Analysis
SharkNinja delivered broad-based second-quarter growth, with net sales increasing 22.2% to $1,765.5 million. All four reported product categories expanded, led by Beauty and Home Environment Appliances, which increased 65.3%, and Cooking and Beverage Appliances, which increased 36.5%. International net sales increased 36.6%, ahead of Domestic net sales growth of 15.5%, reflecting continued expansion of core categories in international markets.
Profit growth was stronger on an adjusted basis than under GAAP. Adjusted Net Income increased 29.3% to $178.2 million and Adjusted EBITDA increased 18.6% to $264.9 million. In contrast, GAAP net income decreased 7.0% to $129.8 million and GAAP diluted earnings per share decreased 6.1% to $0.92. Operating income increased 6.4% to $179.4 million, but its margin declined to 10.1% of net sales from 11.6% of net sales.
Gross margin narrowed despite higher gross profit. GAAP gross margin was 48.7% of net sales compared to 49.0% of net sales, while Adjusted Gross Margin was 48.7% of net sales compared to 49.4% of net sales. The Company attributed the pressure to U.S. tariffs, unfavorable foreign currency, and increased retailer activations. Higher delivery and distribution, advertising, personnel, and merchant-fee costs lifted sales and marketing expenses, while general and administrative expense growth included a $22.6 million increase in share-based compensation.
Capital allocation included repurchases of 815,233 ordinary shares at an aggregate cost of $99.7 million during the three months ended June 30, 2026. The balance sheet showed $779.8 million of cash and cash equivalents, $718.9 million of total debt excluding unamortized deferred financing costs, and inventories of $1,143.6 million. Inventory growth of 14.1% is below reported net sales growth of 22.2%, based on the separately reported comparisons.
The Company raised its fiscal 2026 outlook, now expecting net sales to increase 16.0% to 17.0%, Adjusted Net Income per diluted share of $6.45 to $6.55, and Adjusted EBITDA of $1,357 million to $1,369 million. The updated outlook incorporates stronger underlying operating performance and expected tariff refunds. SharkNinja expects to recognize approximately $247.1 million as a reduction of cost of sales with a corresponding receivable in the third quarter of 2026, with different GAAP and adjusted-metric treatment depending on when the underlying tariffs were expensed.
Management, verbatim
Q2 was a standout performance for SharkNinja, with net sales growth accelerating to 22.2%, our fastest pace since 2024, powered by broad-based strength across our categories, geographies, and channels.
Mark Barrocas, Chief Executive Officer
Our largest, most established franchises like Cleaning and Blending continue to grow through diversification and relentless innovation, and our International business delivered 36.6% growth, accelerating yet again with strong results across the UK, Europe, and Latin America.
Mark Barrocas, Chief Executive Officer
We head into the second half of the year with real momentum and increasing confidence in our ability to deliver strong, profitable growth over the long term.
Mark Barrocas, Chief Executive Officer
Not in the filing
stated, not guessed- Previous-release outlook was not provided, so comparison of reported results with prior guidance is unavailable.
- Prior-quarter comparisons for reported second-quarter financial metrics were not provided.
- Operating cash flow was not provided.
- Free cash flow was not provided.
- Dividend declaration or payment information was not provided.
- Domestic and International net sales totals were not provided.
- Fiscal 2026 gross-margin guidance was not provided.
- Fiscal 2026 operating-expense guidance was not provided.
AlphaAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
This is an SEC Form 8-K (Item 2.02) with the company’s Q2 2026 results and accompanying press release exhibit.
Ticker impact
SharkNinja reported Q2 2026 results with net sales up 22.2% and raised its fiscal 2026 outlook across key metrics.
Likely positive near-term bias as the outlook raise offsets tariff and margin headwinds, though investors may focus on gross margin durability.
The filing provides multiple quantified beats (net sales, Adjusted EBITDA, Adjusted Net Income) and explicitly states an outlook raise, while also disclosing the main margin headwinds (tariffs, FX, retailer activations).
Market effects
Consumer appliances and small electrics investors may read the tariff and FX margin commentary as a near-term cost sensitivity signal for the category.
International growth acceleration (36.6%) highlights demand strength outside the US, potentially supporting peers with similar geographic mix.
Tariff-related cost pressure and FX headwinds are framed as key drivers, which can influence broader sentiment toward US-listed consumer durable exporters.
Counterpoint
Margin compression despite revenue growth suggests the outlook raise could be contingent on cost optimization and may not fully offset tariff and retailer activation pressures.
Key entities
- public_companySharkNinja, Inc.
NYSE-listed consumer product design and technology company reporting Q2 2026 results and raising FY2026 outlook.
- executiveMark Barrocas
CEO quoted on Q2 performance and confidence in profitable growth.
