Sportsman's Warehouse Files Q3 10-Q

TL;DR

**SPWH Q3 10-Q FILED: Financials and operations update.**

AI Summary

Sportsman's Warehouse Holdings, Inc. filed its 10-Q for the period ending November 2, 2024. The filing details financial performance and operational updates for the third quarter. Key financial metrics and business segment information are provided, reflecting the company's ongoing activities in the retail sector.

Why It Matters

This filing provides investors with an update on Sportsman's Warehouse's financial health and operational performance, crucial for understanding the company's trajectory in the current retail environment.

Risk Assessment

Risk Level: medium — The filing is a routine 10-Q, but the retail sector can be volatile, and specific financial details within the report could indicate underlying risks.

Key Numbers

• 001-36401 — SEC File Number (Identifies the company's filing history with the SEC.)
• 391795614 — IRS Number (Company's tax identification number.)

Key Players & Entities

• SPORTSMAN'S WAREHOUSE HOLDINGS, INC. (company) — Filer
• 20241102 (date) — Period of Report
• 20241211 (date) — Filing Date
• WEST JORDAN, UT 84088 (location) — Business Address

FAQ

Key Financial Figures

• $0.01 — ch registered Common stock, par value $0.01 per share SPWH The Nasdaq Stock Mar

Filing Documents

• spwh-20241102.htm (10-Q) — 1871KB
• spwh-ex31_1.htm (EX-31.1) — 15KB
• spwh-ex31_2.htm (EX-31.2) — 16KB
• spwh-ex32_1.htm (EX-32.1) — 14KB
• 0000950170-24-135215.txt ( ) — 6686KB
• spwh-20241102.xsd (EX-101.SCH) — 780KB
• spwh-20241102_htm.xml (XML) — 1172KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements (unaudited)

Financial Statements (unaudited): 4 Condensed Consolidated Balance Sheets 4 Condensed Consolidated Statements of Operations 5 Condensed Consolidated Statements of Stockholders' Equity 6 Condensed Consolidated Statements of Cash Flows 8 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 21 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 33 Item 4.

Controls and Procedures

Controls and Procedures 33

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 34 Item 1A.

Risk Factors

Risk Factors 34 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 35 Item 3. Defaults Upon Senior Securities 35 Item 4. Mine Safety Disclosures 35 Item 5. Other Information 35 Item 6. Exhibits 36

Signatures

Signatures 37 We operate on a fiscal calendar that, in a given fiscal year, consists of the 52- or 53-week period ending on the Saturday closest to January 31st. Our third fiscal quarters ended November 2, 2024 and October 28, 2023 both consisted of 13 weeks and are referred to herein as the third quarter of fiscal year 2024 and the third quarter of fiscal year 2023, respectively. Fiscal year 2024 contains 52 weeks of operations and will end on February 1, 2025. Fiscal year 2023 contained 53 weeks of operations and ended on February 3, 2024. Table of Contents References throughout this document to "Sportsman's Warehouse," "we," "us," and "our" refer to Sportsman's Warehouse Holdings, Inc. and its subsidiaries, and references to "Holdings" refer to Sportsman's Warehouse Holdings, Inc. excluding its subsidiaries. References to (i) "fiscal year 2024" refer to our fiscal year ending February 1, 2025; (ii) "fiscal year 2023" refer to our fiscal year ended February 3, 2024; and (iii) "fiscal year 2022" refer to our fiscal year ended January 28, 2023. SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q (this "10-Q") contains statements that constitute forward-looking statements as that term is defined by the Private Securities Litigation Reform Act of 1995. These statements concern our business, operations and financial performance and condition as well as our plans, objectives and expectations for our business operations and financial performance and condition, which are subject to risks and uncertainties. All statements other than statements of historical fact included in this 10-Q are forward-looking statements. These statements may include words such as "aim," "anticipate," "assume," "believe," "can have," "could," "due," "estimate," "expect," "goal," "intend," "likely," "may," "objective," "plan," "positioned," "potential," "predict," "should," "target," "will," "would" and other words and terms of similar meaning in connec

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS SPORTSMAN'S WAREHOUSE HOLDINGS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS Amounts in Thousands, Except Par Value Data (unaudited) November 2, February 3, 2024 2024 Assets Current assets: Cash and cash equivalents $ 2,666 $ 3,141 Accounts receivable, net 1,447 2,119 Income tax receivable 523 — Merchandise inventories 438,136 354,710 Prepaid expenses and other 19,745 20,078 Total current assets 462,517 380,048 Operating lease right of use asset 320,729 309,377 Property and equipment, net 175,181 194,452 Goodwill 1,496 1,496 Deferred tax asset 7,480 505 Definite lived intangibles, net 282 327 Total assets $ 967,685 $ 886,205 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 112,690 $ 56,122 Accrued expenses 95,094 83,665 Income taxes payable — 126 Operating lease liability, current 48,866 48,693 Revolving line of credit 130,042 126,043 Total current liabilities 386,692 314,649 Long-term liabilities: Term loan, net 23,969 — Operating lease liability, noncurrent 313,454 307,000 Total long-term liabilities 337,423 307,000 Total liabilities 724,115 621,649 Commitments and contingencies Stockholders' equity: Preferred stock, $ .01 par value; 20,000 shares authorized; 0 shares issued and outstanding — — Common stock, $ .01 par value; 100,000 shares authorized; 37,957 and 37,529 shares issued and outstanding, respectively 379 375 Additional paid-in capital 85,144 81,798 Accumulated earnings 158,047 182,383 Total stockholders' equity 243,570 264,556 Total liabilities and stockholders' equity $ 967,685 $ 886,205 The accompanying notes are an integral part of these condensed consolidated financial statements. 4 Table of Contents SPORTSMAN'S WAREHOUSE HOLDINGS, INC. AND SUBSIDIARIES COND

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