Clarus Corp Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Clarus Corp has filed its Q1 2024 10-Q report, detailing financial positions and historical company information.</b>

AI Summary

Clarus Corp (CLAR) filed a Quarterly Report (10-Q) with the SEC on May 2, 2024. Clarus Corp filed its 10-Q report for the quarterly period ended March 31, 2024. The filing covers the period from January 1, 2024, to March 31, 2024. The company was formerly known as Black Diamond, Inc. and SQL FINANCIALS INTERNATIONAL INC /DE/. Clarus Corp is incorporated in Delaware and has its principal business address in Salt Lake City, UT. The filing includes data related to common stock, treasury stock, retained earnings, and additional paid-in capital as of March 31, 2024, and prior periods.

Why It Matters

For investors and stakeholders tracking Clarus Corp, this filing contains several important signals. This 10-Q filing provides investors with the latest quarterly financial performance and position of Clarus Corp, crucial for evaluating investment decisions. Understanding the company's historical name changes and corporate structure provides context for its evolution and current market standing.

Risk Assessment

Risk Level: low — Clarus Corp shows low risk based on this filing. The filing is a standard quarterly report (10-Q) with no immediate red flags, indicating routine financial disclosure.

Analyst Insight

Review the detailed financial statements and segment performance within the 10-Q to assess Clarus Corp's operational health and growth prospects.

Key Numbers

• 2024-03-31 — Period End Date (Conformed period of report)
• 2024-05-02 — Filing Date (Filed as of date)
• 001-34767 — SEC File Number (SEC file number for Clarus Corp)
• 0000913277 — Central Index Key (CIK for Clarus Corp)

Key Players & Entities

• Clarus Corp (company) — Filer name
• Black Diamond, Inc. (company) — Former company name
• SQL FINANCIALS INTERNATIONAL INC /DE/ (company) — Former company name
• DE (jurisdiction) — State of incorporation
• SALT LAKE CITY (location) — Business address city
• UT (location) — Business address state
• 2024-03-31 (date) — Conformed period of report
• 2024-05-02 (date) — Filed as of date

FAQ

Industry Context

Clarus Corp operates in the sporting goods and outdoor equipment industry, formerly known for its Black Diamond brand.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring regular disclosure of financial information by public companies.

What Investors Should Do

1. Analyze the balance sheet details for March 31, 2024, focusing on changes in equity accounts.
2. Examine any disclosures related to stock incentive plans and their impact on equity.
3. Cross-reference historical company names to understand corporate lineage and potential impacts on current operations.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-02: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial 10-Q filing for the fiscal year 2024, following the 2023 annual report.

Key Financial Figures

• $0 — 8,162 shares of common stock, par value $0.0001, outstanding. Table of Contents

Filing Documents

• clar-20240331x10q.htm (10-Q) — 1725KB
• clar-20240331xex31d1.htm (EX-31.1) — 9KB
• clar-20240331xex31d2.htm (EX-31.2) — 10KB
• clar-20240331xex32d1.htm (EX-32.1) — 7KB
• clar-20240331xex32d2.htm (EX-32.2) — 7KB
• 0001558370-24-006566.txt (&nbsp;) — 9239KB
• clar-20240331.xsd (EX-101.SCH) — 61KB
• clar-20240331_cal.xml (EX-101.CAL) — 93KB
• clar-20240331_def.xml (EX-101.DEF) — 277KB
• clar-20240331_lab.xml (EX-101.LAB) — 495KB
• clar-20240331_pre.xml (EX-101.PRE) — 455KB
• clar-20240331x10q_htm.xml (XML) — 1837KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets – March 31, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Comprehensive Income – Three months ended March 31, 2024 and 2023 4 Condensed Consolidated Statements of Cash Flows – Three months ended March 31, 2024 and 2023 5 Condensed Consolidated Statements of Stockholders' Equity – Three months ended March 31, 2024 and 2023 6 Notes to Condensed Consolidated Financial Statements 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 29 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 37 Item 4.

Controls and Procedures

Controls and Procedures 37 PART II OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 38 Item 1A.

Risk Factors

Risk Factors 39 Item 5. Other information 39 Item 6. Exhibits 40 Signature Page 41 2 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS CLARUS CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (In thousands, except per share amounts) March 31, 2024 December 31, 2023 Assets Current assets Cash $ 47,484 $ 11,324 Accounts receivable, less allowance for credit losses of $ 1,394 and $ 1,412 51,954 53,971 Inventories 88,630 91,409 Prepaid and other current assets 7,966 4,865 Income tax receivable 930 892 Assets held for sale - 137,284 Total current assets 196,964 299,745 Property and equipment, net 16,345 16,587 Other intangible assets, net 37,526 41,466 Indefinite-lived intangible assets 56,897 58,527 Goodwill 38,300 39,320 Deferred income taxes 16,280 22,869 Other long-term assets 14,664 16,824 Total assets $ 376,976 $ 495,338 Liabilities and Stockholders' Equity Current liabilities Accounts payable $ 12,772 $ 20,015 Accrued liabilities 22,441 24,580 Income tax payable 816 805 Current portion of long-term debt 44 119,790 Liabilities held for sale - 5,744 Total current liabilities 36,073 170,934 Long-term debt, net 37 - Deferred income taxes 17,324 18,124 Other long-term liabilities 13,167 14,160 Total liabilities 66,601 203,218 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; 42,878 and 42,761 issued and 38,236 and 38,149 outstanding, respectively 4 4 Additional paid in capital 692,381 691,198 Accumulated deficit ( 329,811 ) ( 350,739 ) Treasury stock, at cost ( 33,114 ) ( 32,929 ) Accumulated other comprehensive loss ( 19,085 ) ( 15,414 ) Total stockholders' equity 310,375 292,120 Total liabilities and stockholders' equity $ 376,976 $ 495,338 See accompanying notes to condensed consolidated financial statements . 3 Table of Contents CLARUS CORPO

View Full Filing

View this 10-Q filing on SEC EDGAR