SharkNinja, Inc. Files 20-F Annual Report for Fiscal Year Ended December 31, 2023

Ticker: SN · Form: 20-F · Filed: Mar 1, 2024 · CIK: 1957132

Sharkninja, Inc. 20-F Filing Summary
FieldDetail
CompanySharkninja, Inc. (SN)
Form Type20-F
Filed DateMar 1, 2024
Risk Levelmedium
Pages15
Reading Time18 min
Key Dollar Amounts$
Sentimentneutral

Sentiment: neutral

Topics: 20-F, Annual Report, SharkNinja, Household Appliances, Financials

TL;DR

<b>SharkNinja, Inc. has submitted its 20-F annual report detailing its 2023 fiscal year performance and operations.</b>

AI Summary

SharkNinja, Inc. (SN) filed a Foreign Annual Report (20-F) with the SEC on March 1, 2024. SharkNinja, Inc. filed its 20-F annual report for the fiscal year ending December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal executive offices are located at 89 A Street, #100, Needham, MA 02494. SharkNinja Global SPV, Ltd. was the former company name prior to a name change on December 5, 2022. The SIC code for SharkNinja, Inc. is 3630 (Household Appliances).

Why It Matters

For investors and stakeholders tracking SharkNinja, Inc., this filing contains several important signals. This filing provides a comprehensive overview of SharkNinja's financial health, operational strategies, and risk factors for the fiscal year 2023, crucial for investors assessing the company's performance and future outlook. As a 20-F filing, it offers insights into the company's governance, financial statements, and business operations, which are essential for international investors and regulatory compliance.

Risk Assessment

Risk Level: medium — SharkNinja, Inc. shows moderate risk based on this filing. The filing is a standard annual report (20-F), which typically contains a broad range of information but does not inherently signal immediate positive or negative developments beyond routine disclosures.

Analyst Insight

Review the detailed financial statements and risk factors within the 20-F filing to understand SharkNinja's performance and potential challenges in the upcoming fiscal year.

Key Numbers

  • 20231231 — Fiscal Year End (Conformed period of report)
  • 20240301 — Filing Date (Date the 20-F was filed)
  • 3630 — SIC Code (Standard Industrial Classification for Household Appliances)
  • 001-41754 — SEC File Number (SEC file number for SharkNinja, Inc.)

Key Players & Entities

  • SharkNinja, Inc. (company) — Filer of the 20-F report
  • SharkNinja Global SPV, Ltd. (company) — Former company name
  • Needham, MA (location) — Location of principal executive offices
  • 0001957132-24-000008 (filing_id) — Accession number for the filing
  • 20221205 (date) — Date of company name change

FAQ

When did SharkNinja, Inc. file this 20-F?

SharkNinja, Inc. filed this Foreign Annual Report (20-F) with the SEC on March 1, 2024.

What is a 20-F filing?

A 20-F is a annual report for foreign private issuers, equivalent to a 10-K but following international reporting standards. This particular 20-F was filed by SharkNinja, Inc. (SN).

Where can I read the original 20-F filing from SharkNinja, Inc.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by SharkNinja, Inc..

What are the key takeaways from SharkNinja, Inc.'s 20-F?

SharkNinja, Inc. filed this 20-F on March 1, 2024. Key takeaways: SharkNinja, Inc. filed its 20-F annual report for the fiscal year ending December 31, 2023.. The filing covers the period from January 1, 2023, to December 31, 2023.. The company's principal executive offices are located at 89 A Street, #100, Needham, MA 02494..

Is SharkNinja, Inc. a risky investment based on this filing?

Based on this 20-F, SharkNinja, Inc. presents a moderate-risk profile. The filing is a standard annual report (20-F), which typically contains a broad range of information but does not inherently signal immediate positive or negative developments beyond routine disclosures.

What should investors do after reading SharkNinja, Inc.'s 20-F?

Review the detailed financial statements and risk factors within the 20-F filing to understand SharkNinja's performance and potential challenges in the upcoming fiscal year. The overall sentiment from this filing is neutral.

How does SharkNinja, Inc. compare to its industry peers?

SharkNinja operates in the household appliances industry, manufacturing and selling a range of consumer products.

Are there regulatory concerns for SharkNinja, Inc.?

As a foreign private issuer, SharkNinja files an annual report on Form 20-F with the U.S. Securities and Exchange Commission (SEC), which is less detailed than a U.S. domestic filer's 10-K.

Industry Context

SharkNinja operates in the household appliances industry, manufacturing and selling a range of consumer products.

Regulatory Implications

As a foreign private issuer, SharkNinja files an annual report on Form 20-F with the U.S. Securities and Exchange Commission (SEC), which is less detailed than a U.S. domestic filer's 10-K.

What Investors Should Do

  1. Analyze the financial statements for revenue, net income, and other key performance indicators.
  2. Review the business overview and risk factors sections for strategic insights and potential challenges.
  3. Compare the current filing's data with previous filings to identify trends and changes.

Key Dates

  • 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 20-F filing.
  • 2024-03-01: Filing Date — Date the 20-F annual report was officially submitted to the SEC.
  • 2022-12-05: Company Name Change — Date SharkNinja Global SPV, Ltd. changed its name to SharkNinja, Inc.

Year-Over-Year Comparison

This is the initial 20-F filing for SharkNinja, Inc. after its name change from SharkNinja Global SPV, Ltd. on December 5, 2022, covering the full fiscal year 2023.

Filing Stats: 4,563 words · 18 min read · ~15 pages · Grade level 14.4 · Accepted 2024-03-01 17:27:40

Key Financial Figures

  • $ — ll references in this Annual Report to "$," "US$," "U.S.$," "U.S. dollars," "doll

Filing Documents

Item 18

Item 17 Item 18 If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes x No (APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PAST FIVE YEARS) Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court. Yes No TABLE OF CONTENTS Page Introduction ii Cautionary Note Regarding Forward-Looking Statements iv PART I 1

Identity of Directors, Senior Management and Advisers

Item 1. Identity of Directors, Senior Management and Advisers 1

Offer Statistics and Expected Timetable

Item 2. Offer Statistics and Expected Timetable 1

Key Information

Item 3. Key Information 1

Information on the Company

Item 4. Information on the Company 48

Unresolved Staff Comments

Item 4a. Unresolved Staff Comments 62

Operating and Financial Review and Prospects

Item 5. Operating and Financial Review and Prospects 62

Directors, Senior Management and Employees

Item 6. Directors, Senior Management and Employees 83

Major Shareholders and Related Party Transactions

Item 7. Major Shareholders and Related Party Transactions 88

Financial Information

Item 8. Financial Information 98

The Offer and Listing

Item 9. The Offer and Listing 99

Additional Information

Item 10. Additional Information 100

Quantitative and Qualitative Disclosures About Market Risk

Item 11. Quantitative and Qualitative Disclosures About Market Risk 104

Description of Securities Other than Equity Securities

Item 12. Description of Securities Other than Equity Securities 105 PART II 106

Defaults, Dividend Arrearages and Delinquencies

Item 13. Defaults, Dividend Arrearages and Delinquencies 106

Material Modifications to the Rights of Security Holders and Use of Proceeds

Item 14. Material Modifications to the Rights of Security Holders and Use of Proceeds 106

Controls and Procedures

Item 15. Controls and Procedures 106

Reserved

Item 16. Reserved 107

Audit Committee Financial Expert

Item 16A. Audit Committee Financial Expert 107

Code of Ethics

Item 16B. Code of Ethics 107

Principal Accountant Fees and Services

Item 16C. Principal Accountant Fees and Services 108

Exemptions from the Listing Standards for Audit Committees

Item 16D. Exemptions from the Listing Standards for Audit Committees 108

Purchases of Equity Securities by the Issuer and Affiliated Purchasers

Item 16E. Purchases of Equity Securities by the Issuer and Affiliated Purchasers 108

Change in Registrant's Certifying Accountant

Item 16F. Change in Registrant's Certifying Accountant 109

Corporate Governance

Item 16G. Corporate Governance 109

Mine Safety Disclosure

Item 16H. Mine Safety Disclosure 109

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 16I. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 109

Insider Trading Policies

Item 16J. Insider Trading Policies 109

Cybersecurity

Item 16K. Cybersecurity 109 PART III 111

Financial Statements

Item 17. Financial Statements 111

Financial Statements

Item 18. Financial Statements 111

Exhibits

Item 19. Exhibits 111 INDEX TO CONSOLIDATED FINANCIAL STATEMENTS F-1 i INTRODUCTION Unless the context requires otherwise, (i) references to "SharkNinja," the "Company," "we," "us" and "our" refer to (a) SharkNinja Global SPV, Ltd. ("SharkNinja SPV") and its consolidated subsidiaries prior to the separation and (b) SharkNinja, Inc. and its consolidated subsidiaries after the completion of the separation, (ii) references to "JS Global" refer to JS Global Lifestyle Company Limited, SharkNinja's parent prior to the completion of the separation and distribution, and its consolidated subsidiaries other than SharkNinja and SharkNinja's subsidiaries and (iii) references to "Joyoung" refer to Joyoung Co., Ltd., a subsidiary of JS Global. All references in this Annual Report to "$," "US$," "U.S.$," "U.S. dollars," "dollars" and "USD" mean U.S. dollars. The terms "United States" and the "U.S." refer to the United States of America. We report our financial statements in U.S. dollars and prepare our Consolidated Financial Statements in accordance with generally accepted accounting principles in the United States ("U.S. GAAP"). We also report certain non-U.S. GAAP financial measures ("Item 5. Operating and Financial Review and Prospects — A. Operating Results"), which are derived from the amounts presented in the financial statements prepared under U.S. GAAP. Certain amounts, percentages and other figures presented in this Annual Report have been subject to rounding adjustments. Accordingly, figures shown as totals, dollars or percentage amounts of changes may not represent the arithmetic summation or calculation of the figures that precede them. MARKET AND INDUSTRY DATA This Annual Report includes estimates regarding market and industry data. Unless otherwise indicated, information concerning our industry and the markets in which we operate, including our general expectations, market position, market opportunity and market size, are based on our management's

IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS

ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS Not applicable.

OFFER STATISTICS AND EXPECTED TIMETABLE

ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE Not applicable.

KEY INFORMATION

ITEM 3. KEY INFORMATION A. [Reserved] Not required. B. Capitalization and indebtedness Not applicable. C. Reasons for the offer and use of proceeds Not applicable. D. Risk factors You should consider carefully the following risks, together with the financial and other information contained in this Annual Report, which we believe are the principal risks that we face. If any of the following risks or uncertainties actually occurs, our business, financial condition and results of operations could be materially and adversely affected. In that case, the market price of our ordinary shares could decline. The risks discussed below are not the only risks we face. Additional risks or uncertainties not currently known to us, or that we currently deem immaterial, may also have a material adverse effect on our business, financial condition and results of operations. We cannot assure you that any of the events discussed below will not occur. Summary of Principal Risk Factors Our business is subject to change, risks, and uncertainties, as described herein. The risk factors that the Company considers material include, but are not limited to, the following: Risks Related to Our Business, Operations and Industry Our business depends on maintaining and strengthening our brands to generate and maintain ongoing demand for our products, and a significant reduction in such demand, or misuse by licensees of our brands, could harm our business, financial condition and results of operations. We may be unable to manage our future growth effectively, which could make it difficult to execute our business strategy. Our net sales and profits depend on the level of consumer spending on our products, which is sensitive to general economic conditions and other factors; during a downturn in the economy, consumer purchases of discretionary items may be adversely affected, which could materially harm our business, financial condition and results of operations. We participate

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