Sportsman’s Warehouse Holdings Inc 2025年度报告

SPORTSMAN’S WAREHOUSE HOLDINGS, INC. (Exact name of registrant as specified in its charter) Securities registered pursuant to Section 12(b) of the Act: Securities registered pursuant to Section 12(g) of the Act:None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. YESNO Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. YESNO Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. YESNO Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T(§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). YESNO Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growthcompany. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filer☐Non-accelerated filer☐Emerging growthcompany☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financialaccounting standards provided pursuant to Section 13(a) of the Exchange Act: Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financialreporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☒ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect thecorrection of an error to previously issued financial statements. Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of theregistrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). YES☐NO As of August 2, 2025, the last business day of the registrant’s most recently completed second fiscal quarter, the aggregate market value of the voting and non-voting commonequity held by non-affiliates of the registrant, based on the closing price of the shares of the registrant's common stock on The Nasdaq Global Select Market on such date, was approximately $122.0 million. Shares held by each executive officer and director and by each other person or entity deemed to be anaffiliate have been excluded in such calculation. The determination of affiliate status is not necessarily a conclusive determination for other purposes. The number of shares of the registrant’s common stock outstanding as of March 31, 2026 was 38,804,440. DOCUMENTS INCORPORATED BY REFERENCE Table of Contents PART I Item 1.Item 1A.Item 1B.Item 1C.Item 2.Item 3.Item 4. BusinessRisk FactorsUnresolved Staff CommentsCybersecurityPropertiesLegal ProceedingsMine Safety Disclosures PART II Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases ofEquity Securities44[Reserved]44Management’s Discussion and Analysis of Financial Condition and Results of Operations45Quantitative and Qualitative Disclosures About Market Risk61Financial Statements and Supplementary Data62Changes in and Disagreements With Accountants on Accounting and Financial Disclosure90Controls and Procedures90Other Information93Disclosure Regarding Foreign Jurisdictions that Prevent Inspections93 Item 6.Item 7.Item 7A.Item 8.Item 9.Item 9A.Item 9B.Item 9C. PART IIIItem 10. Directors, Executive Officers and Corporate Governance94Executive Compensation94Security Ownership of Certain Beneficial Owners and Management and Related StockholderMatters94Certain Relationships and Related Transactions, and Director Independence94Principal Accountant Fees and Services94 Item 11.Item 12. Item 13.Item 14. PART IVItem 15.Item 16.SIGNATURES Exhibit and Financial Statement Schedules95Form 10-K Summary9899 References throughout this document to “Sportsman’s Warehouse,” “we,” “us,” and “our” refer to Sportsman’sWarehouse Holdings, Inc. and its subsidiaries, and references to “Holdings” refer to Sportsman’s Warehouse Holdin