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We are a leading provider of outdoor lifestyle products and shooting sports accessories encompassing hunting, fishing, meat processing, outdoor cooking, camping, shooting, and personal security and defense products for rugged outdoor enthusiasts. We conceive, design, source, and sell our outdoor lifestyle products, including premium sportsman knives and tools for fishing and hunting; la…
The business is unprofitable at the operating level (-0.07% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue up 10.6% YoY with margins expanding 6.1pp. However, free cash flow softened 109%, worth monitoring whether this is timing or structural.
Free cash flow declined 109% versus the prior year, cash generation momentum has weakened. Negative free cash flow of -$2M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$205M
▲ +10.6% YoY
Net Income (TTM)
-$10M
▲ +99.4% YoY
Op. Margin
-4.67%
▲ +6.1pp YoY
ROIC
-3.72%
▲ +4.5pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$107K
▼ -109.1% YoY
Op. Cash Flow (TTM)
$3M
▼ -94.5% YoY
Net Debt
$22M
Cash & Equiv.
$10M
5Y CAGR: +5.8%
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