Clarus Corporation (CLAR) shares have gained 11.06% at $22.90 in Monday’s after-hours session. Clarus (CLAR) stock subtracted -5.54% to finish the last trading session at $20.62. The stock recorded a trading volume of 0.41 million shares, which is below the average daily trading volume published for the last 50 days of 0.19 million shares.
The Clarus (CLAR) shares have declined -9.44% in the last five days; however, they have lost -10.00% over the last month. The stock price has shed -20.87% over the last three months and has gained 11.28 percent so far this year. Further, the stock is being traded at a price-to-earnings ratio of 37.22. CLAR stock is raising after-hours following the release of its quarterly results.
How CLAR has performed?
Clarus is a globally leading designer, developer, producer, and distributor of best-in-class outdoor equipment and lifestyle items focusing on the outdoor and consumer enthusiast markets, with headquarters in Salt Lake City, Utah. Through our unique “innovate and accelerate” strategy, CLAR’s aim is to develop, acquire, and build outdoor “super fan” businesses. A “super fan” brand is one that creates the world’s preeminent, performance-defining product that the best-in-class user can’t live without, according to CLAR.
After closing the market on Monday, Clarus (CLAR) reported financial results for the fourth quarter and full-year ended December 31, 2021.
CLAR: Q4 2021 vs. Q4 2020
- CLAR recorded sales of $118.2 million increased 56%.
- Gross margin of CLAR improved 60 basis points to 36.1%; the adjusted gross margin increased by 120 basis points to 37.2%.
- Net income posted by CLAR was $14.0 million, or $0.36 per diluted share, compared to net income of $7.1 million, or $0.22 per diluted share.
- CLAR’s adjusted net income before non‐cash items increased 55% to $17.4 million, or $0.45 per diluted share, compared to $11.2 million, or $0.34 per diluted share.
- Adjusted EBITDA of the company increased to a record $20.0 million with an adjusted EBITDA margin of 16.9%, compared to $11.0 million with an adjusted EBITDA margin of 14.5%.
- The company’s adjusted EBITDA grew to a new high of $20.0 million with a 16.9% adjusted EBITDA margin, up from $11.0 million with a 14.5 percent adjusted EBITDA margin.
Full Year 2021 vs. 2020
- CLAR reported revenues of $375.8 million in 2021, up 68 percent from the previous year.
- CLAR’s gross margin climbed by 170 basis points to 36.4 percent, while adjusted gross margin increased by 280 basis points to 37.7%.
- CLAR’s net income climbed to $26.1 million, or $0.73 per diluted share, from $5.5 million, or $0.18 per diluted share, in the previous quarter.
- CLAR’s adjusted net income before non-cash items climbed by 140 percent to $52.5 million, or $1.47 per diluted share, from $21.9 million, or $0.70 per diluted share, in the prior year.
- The company’s adjusted EBITDA grew to a record $61.5 million with a 16.4 percent adjusted EBITDA margin, up from $22.4 million with a 10.0 percent adjusted EBITDA margin.
MAXTRAX Purchasing
Clarus announced on December 1, 2021, that it has acquired the MAXTRAX business in Australia, a market leader in constructing the best Overlanding and off-road vehicle recovery and extraction tracks, for a mix of cash, shares, and future consideration. MAXTRAX will continue to operate as a wholly-owned subsidiary of CLAR and will be included in the Adventure reporting category, which also includes Rhino-Rack, which was purchased on July 1, 2021.
