Smith & Wesson Brands Inc 2024年度报告

Smith & Wesson Brands, Inc. SMITH & WESSON BRANDS, INC.ANNUAL REPORT ON FORM 10-KFor the Fiscal Year Ended April 30, 2025 TABLE OF CONTENTS PART I ITEM 1.BUSINESSITEM 1A.RISK FACTORSITEM 1B.UNRESOLVED STAFF COMMENTSITEM 1C.CYBERSECURITYITEM 2.PROPERTIESITEM 3.LEGAL PROCEEDINGSITEM 4.MINE SAFETY DISCLOSURES 1143232333333PART IIITEM 5.MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUERPURCHASES OF EQUITY SECURITIES34ITEM 6.RESERVED35ITEM 7.MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OFOPERATIONS36ITEM 7A.QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK43ITEM 8.FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA43ITEM 9.CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIALDISCLOSURE43ITEM 9A.CONTROLS AND PROCEDURES43ITEM 9B.OTHER INFORMATION44ITEM 9C.DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS45PART IIIITEM 10.DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE46ITEM 11.EXECUTIVE COMPENSATION46ITEM 12.SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATEDSTOCKHOLDER MATTERS46ITEM 13.CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE46ITEM 14.PRINCIPAL ACCOUNTANT FEES AND SERVICES46PART IVITEM 15.EXHIBITS AND FINANCIAL STATEMENT SCHEDULES47ITEM 16.FORM 10-K SUMMARY50SIGNATURES51INDEX TO CONSOLIDATED FINANCIAL STATEMENTSF-1 Smith & Wesson®, S&W®, M&P®, M&P Shield®, Performance Center®, Abyss®, Airlite®, Airweight®, AmericanGuardians®, Armornite®, Arrow®, Aurora-II®, Blast Jacket®, Bodyguard®, Carry Comp®, Chiefs Special®, Club 1852®,Competitor®, CSX®, Dagger®, Empowering Americans®, Eg-Series®, ETM®, EZ®, Flexmag®, G-Core®, Gemtech®, GemtechSuppressors®, GM®, GM-S1®, GMT-Halo®, Governor®, GVAC®, Integra®, Lady Smith®, Lever Lock®, Lunar®, M&PFPC®, M2.0®, Magnum®, Mist-22®, Mountain Gun®, Protected by Smith & Wesson®, Put A Legend On Your Line®,Quickmount®, Shield®, Silence is Golden®, Smith & Wesson Collectors Association®, Smith & Wesson Performance Center®,Smith & Wesson Precision Components®, Smith & Wesson Response®, SW Equalizer®, SW22 Victory®, TEMPO®, The S&WBench®, The Sigma Series®, Trek®, Volunteer®, and Weather Shield® are some of the registered U.S. trademarks of ourcompany or one of our subsidiaries. This Annual Report on Form 10-K also may contain trademarks and trade names of othercompanies. This Annual Report on Form 10-K includes market and industry data that we obtained from industry publications, third-partystudies and surveys, government agency sources, filings of public companies in our industry, and internal company surveys.Industry publications and surveys generally state that the information contained therein has been obtained from sources believed tobe reliable. Although we believe the foregoing industry and market data to be reliable at the date of the report, this informationcould prove to be inaccurate as a result of a variety of matters. The statements contained in this Annual Report on Form 10-K that are not purely historical are forward-looking statementswithin the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of theSecurities Exchange Act of 1934, as amended, or the Exchange Act. All statements other than statements of historical factscontained or incorporated herein by reference in this Annual Report on Form 10-K, including statements regarding our futureoperating results, future financial position, business strategy, objectives, goals, plans, prospects, markets, and plans and objectivesfor future operations, are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as“anticipates,” “believes,” “estimates,” “expects,” “intends,” “targets,” “contemplates,” “projects,” “predicts,” “may,” “might,”“plan,” “will,” “would,” “should,” “could,” “may,” “can,” “potential,” “continue,” “objective,” or the negative of those terms, orsimilar expressions intended to identify forward-looking statements. However, not all forward-looking statements contain theseidentifying words. Specific forward-looking statements in this Annual Report on Form 10-K include statements regarding theimpact, if any, of statements regarding our objectives, goals, strategies, plans, and focus, including our objective to be theundisputed market leader in the firearm industry; our plan to continue to introduce new products in fiscal 2026; our belief that byoffering high-quality products and services on a timely and cost-effective basis, as well as providing world-class customer service,training, and support, we will drive customer satisfaction and loyalty; our intent to continue to streamline and standardize certainadministrative functions of our business with a goal toward driving profitability and improving the ease with which our customersare able to do business with us; our intent to continue investing in systems to further enhance our efficiency, improve infor