Clarus Corp. Files Q3 2024 10-Q

TL;DR

Clarus Corp 10-Q filed: Q3 2024 financials out. Check it.

AI Summary

Clarus Corp. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the company, which was formerly known as Black Diamond, Inc. and SQL Financials International Inc. The report covers the third quarter and provides a look into the company's financial health and strategic direction.

Why It Matters

This 10-Q filing provides investors and stakeholders with crucial financial data and insights into Clarus Corp.'s performance and outlook for the third quarter of 2024.

Risk Assessment

Risk Level: medium — As a public company filing a 10-Q, Clarus Corp. is subject to market fluctuations and regulatory scrutiny, making its risk level medium.

Key Numbers

• N/A — Revenue (Specific revenue figures are not detailed in the provided header information.)
• N/A — Net Income (Specific net income figures are not detailed in the provided header information.)
• N/A — Earnings Per Share (Specific EPS figures are not detailed in the provided header information.)

Key Players & Entities

• Clarus Corp. (company) — Filer of the 10-Q
• Black Diamond, Inc. (company) — Former name of Clarus Corp.
• SQL Financials International Inc (company) — Former name of Clarus Corp.
• 20240930 (date) — Period end date for the 10-Q filing
• 20241107 (date) — Filing date of the 10-Q

FAQ

Key Financial Figures

• $0 — 2,162 shares of common stock, par value $0.0001, outstanding. Table of Contents

Filing Documents

• clar-20240930x10q.htm (10-Q) — 2382KB
• clar-20240930xex31d1.htm (EX-31.1) — 9KB
• clar-20240930xex31d2.htm (EX-31.2) — 10KB
• clar-20240930xex32d1.htm (EX-32.1) — 7KB
• clar-20240930xex32d2.htm (EX-32.2) — 7KB
• 0001558370-24-014902.txt ( ) — 10918KB
• clar-20240930.xsd (EX-101.SCH) — 61KB
• clar-20240930_cal.xml (EX-101.CAL) — 94KB
• clar-20240930_def.xml (EX-101.DEF) — 280KB
• clar-20240930_lab.xml (EX-101.LAB) — 510KB
• clar-20240930_pre.xml (EX-101.PRE) — 462KB
• clar-20240930x10q_htm.xml (XML) — 2365KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets – September 30, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Comprehensive Income (Loss) – Three months ended September 30, 2024 and 2023 4 Condensed Consolidated Statements of Comprehensive Income (Loss) – Nine months ended September 30, 2024 and 2023 5 Condensed Consolidated Statements of Cash Flows – Nine months ended September 30, 2024 and 2023 6 Condensed Consolidated Statements of Stockholders' Equity – Three and nine months ended September 30, 2024 and 2023 7 Notes to Condensed Consolidated Financial Statements 9 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 31 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 42 Item 4.

Controls and Procedures

Controls and Procedures 42 PART II OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 43 Item 1A.

Risk Factors

Risk Factors 44 Item 5. Other information 45 Item 6. Exhibits 46 Signature Page 47 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) September 30, 2024 December 31, 2023 Assets Current assets Cash $ 36,399 $ 11,324 Accounts receivable, less allowance for credit losses of $ 1,569 and $ 1,412 54,337 53,971 Inventories 93,147 91,409 Prepaid and other current assets 6,707 4,865 Income tax receivable 983 892 Assets held for sale - 137,284 Total current assets 191,573 299,745 Property and equipment, net 17,171 16,587 Other intangible assets, net 34,366 41,466 Indefinite-lived intangible assets 59,040 58,527 Goodwill 39,632 39,320 Deferred income taxes 19,192 22,869 Other long-term assets 14,364 16,824 Total assets $ 375,338 $ 495,338 Liabilities and Stockholders' Equity Current liabilities Accounts payable $ 12,677 $ 20,015 Accrued liabilities 23,325 24,580 Income tax payable - 805 Current portion of long-term debt - 119,790 Liabilities held for sale - 5,744 Total current liabilities 36,002 170,934 Deferred income taxes 18,221 18,124 Other long-term liabilities 12,641 14,160 Total liabilities 66,864 203,218 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; 43,004 and 42,761 issued and 38,362 and 38,149 outstanding, respectively 4 4 Additional paid in capital 696,021 691,198 Accumulated deficit ( 340,377 ) ( 350,739 ) Treasury stock, at cost ( 33,114 ) ( 32,929 ) Accumulated other comprehensive loss ( 14,060 ) ( 15,414 ) Total stockholders' equity 308,474 292,120 Total liabilities and stockholders' equity $ 375,338 $ 495,338 See accompanying notes to condensed consolidated financial statements. 3 Table of Content

View Full Filing

View this 10-Q filing on SEC EDGAR