Clarus Corp 2024年度报告

CLARUSCORPORATION 2024 Annual Report ANNUAL MEETING The Annual Meeting of Stockholderswill be held on Thursday, May 29,2025 at 10:00 a.m. Eastern Timein a virtual-only meeting format vialive webcast. Detailed informationabout the meeting and instructionson how to participate in this year’svirtual meeting are contained in theNotice of Annual Meeting and ProxyStatement sent with a copy of thisAnnual Report. CORPORATEINFORMATION Board of Directors Warren B. KandersExecutive Chairman Michael A. HenningFinancial Consultant Donald L. HouseFinancial Consultant Nicholas SokolowPartnerLebow & Sokolow, LLP Susan OttmannGraduate Program DirectorCollege of Engineering at theUniversity of Wisconsin Madison Roger WernerDigital Media entrepreneur and Chairman of ACCUS (the AutomobileCompetition Committee of the UnitedStates) Mark M. Besca Retired Leader of Long-Term Valueand Stakeholder Capitalism InitiativeEY (formerly Ernst & Young) Management Warren B. KandersExecutive ChairmanMichael J. YatesChief Financial Officer STOCKHOLDERINFORMATION Headquarters Clarus Corporation2084 East 3900 SouthSalt Lake City, UT 84124(801) 278-5552 Investor Relations Contact The IGB GroupLeon Berman(212) 477-8438lberman@igbir.com Securities Listing The Company’s commonstock is listed on the NASDAQGlobal Select Market under thesymbol CLAR. Registrar and Transfer Agent Equiniti Trust Co., LLCRidgefield Park, NJ Independent Accountants Deloitte & Touche LLPSalt Lake City, UT Legal Counsel Kane Kessler, P.C.New York, NY DEAR FELLOW CLARUS SHAREHOLDERS: As we reflect on 2024, Clarus continued to take importantsteps during the year to execute on our outlined strategicroadmap while navigating an increasingly challenging con-sumer backdrop.Our teams have worked diligently to driveoperational improvements and build on the foundation wehave established to unlock new growth opportunities. We areanchored by two segments: Outdoor, featuring the iconic BlackDiamond® brand, which has a 35-plus-year history provid-ing equipment and soft goods to climbers, hikers and skiers;and Adventure, a collection of leading brands that includesRhino-Rack®, MAXTRAX® and TRED OUTDOORS® gearedtowards empowering consumers to get from their homes totheir adventures. Our two segments are in different stages oftheir evolution, but we are generally encouraged by the measur-able progress achieved in 2024 to advance Clarus’ turnaround. apparel line has exceeded early expectations, with strong initialfeedback, and we are encouraged by positive early demandindicators for our newest product lines as we continue into2025. With a reshaped business and strengthened core, weare confident we have laid the foundation for future long-termgrowth with an opportunity for double-digit EBITDA margins. Adventure Segment: Investing to Scale In Adventure, we remained focused on our primary objectiveof increasing the penetration of our brands globally. We madesignificant investments in new R&D and product developmentinitiatives and despite market headwinds, we are committed tomaintaining these investments to realize the long-term poten-tial that we believe is achievable. The global opportunity forAdventure’s product categories continues to be supported bystrong long-term fundamentals, driven by a large and growingaddressable market of adventure-oriented customers acrossmultiple verticals. Outdoor Segment: Strengthening the Core In Outdoor, we entered the year with an ambitious plan tosimplify the business and build a healthier Black Diamond.Weexited unprofitable categories and styles, right-sized inventorywith an emphasis on core products, reshaped the organization,and lowered our cost structure with the goal of becoming moreprofitable on a smaller revenue base. I am pleased to reportthat we progressed our agenda each quarter and we ended2024 in a far better position as we seek to drive growth at ahigher margin. During the year, Adventure’s financial results were adverselyimpacted by a continued slowdown in both our global OEM Key tenets for our strategy were product simplification andSKU rationalization initiatives, to provide our consumers with acleaner slate of products with clear differentiation and segmen-tation. While Outdoor revenue of $184 million in 2024 declinedfrom $204 million in the prior year, consistent with marketweakness and our expectations, full year adjusted EBITDA wasup 80% from 2023. Delivering on our commitment to enhancethe quality and composition of our inventory, we focused onprioritizing our best and most profitable styles, which we term“A” and “B” products—this led to significant margin improve-ment. Revenue from our high-margin styles increased $11million versus the prior year, offset by $32 million less revenuefrom our low-margin “C” and “D” styles. This was a deliberatestrategic decision, producing an Outdoor business with highergross margins, improved profitability and inventory that isexpected to turn more frequently driving wo