Skip to content
AnalystLens

SharkNinjaSN

Legal name
SharkNinja, Inc.
Sector
Other
Industry
Household Appliances

Stock Price $SN

Latest filings

You are here#31 of 42 in Consumer Discretionary by market cap

Filing record · 2023–202610-K310-Q38-K25

SN filed 3 annual reports (10-K), 3 quarterly reports (10-Q) and 25 current reports (8-K) between 2023 and 2026.

  1. FY2025 annual report10-K · Mar ’26Mar ’26

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  5. $6.40B
YoY changeLargest recent move+30.0%in FY24Latest +15.7%

Latest bar from 10-KFY2025Click a bar to open its SEC filing

View full history →
All SN Financial Metrics57 metrics

Income Statement15

Balance Sheet25

Cash Flow12

Per Share5

02—Overview

SharkNinja Financial Overview 2023–2025

Updated Nov 4, 2026

Net income at SharkNinja more than quadrupled in two years, from $167.1 million in FY2023 to $701.4 milliona in FY2025. That matters because sales grew only about 50% over the same stretch. The core thesis: this is an operating-leverage story, where higher gross margins and tighter spending turn each extra sales dollar into far more profit.

Revenue grew from $4.25 billion in FY2023 to $6.40 billionb in FY2025, with growth of 30.0% in FY2024 and 15.7% in FY2025. Gross margin climbed from 44.9% to 49.0% over that period. Operating income rose from $373.6 million to $920.3 million, and diluted EPS went from $1.20 to $4.94. Adjusted EBITDA reached $1.14 billion, a 17.7% margin. Cash more than doubled in FY2025 to $777.3 million, operating cash flow hit $634.1 million, and debt fell to $739.1 million. A $750.0 million buyback was authorized in February 2026.

The market priced this at 22.7x earnings at the close of FY2025, with a $111.90c share price and a $15.8 billion market cap. The risks are specific. Management reported material weaknesses in internal control over financial reporting, and the auditor issued an adverse opinion on those controls. The largest customer was 23.8% of FY2025 net sales.

Recent Developments (Q2 and Q3 2026)

Sales growth accelerated through the period. Net sales rose 22.2% to $1.77 billiond in Q2 2026 and 21.2% to $1.98 billion in Q3 2026. Reported Q3 2026 gross margin jumped 910 basis points to 59.2%, but $243.8 million of tariff refunds drove it. Adjusted gross margin was 55.9%. Adjusted EBITDA reached $461.3 million, a 23.3% margin. Management raised the 2026 outlook twice after Q1, to 18.0%–19.0% sales growth and $6.65–$6.75 adjusted EPS. Chairman CJ Xuning Wang sold shares under a board-approved trading waiver in July 2026.

Bull case: growth above 20% and refund-aided profit support further guidance raises. Bear case: cash fell to $487.8 millione, inventories rose 42.5%, and controls remain ineffective. At 42.6x trailing earnings as of the November 3, 2026 filing date, not today, the stock looks richly valued.

What to watch: holiday-season inventory sell-through and cash rebuild; Q4 2026 refund recognition ($35.8 million) and control remediation

03—Filings

Recent SEC Filings

  1. 8-KSharkNinja 8-K Report, Financial Results (Nov 4, 2026)SharkNinja, Inc. reported third quarter 2026 results for the quarter ended September 30, 2026, with net sales increasing 21.2% to $1,976.4 million and net income increasing 79.3% to $338.4 million, or $2.39 per diluted share. Adjusted EBITDA rose 45.7% to $461.3 million, or 23.3% of net sales. Gross margin rose 910 basis points to 59.2%, primarily driven by recognized benefits from refund claims for duties paid under the International Emergency Economic Powers Act (IEEPA), net of amounts payable to factory partners. These IEEPA refund benefits were excluded from all Adjusted measures, so the Adjusted results show a smaller improvement, with Adjusted Gross Margin up 560 basis points to 55.9% and Adjusted Net Income up 55.1% to $330.9 million. Management raised its fiscal 2026 outlook across key metrics. Net sales are now expected to increase 18.0% to 19.0% (previously 16.0% to 17.0%), Adjusted Net Income per diluted share is expected between $6.65 and $6.75 (previously $6.45 to $6.55), and Adjusted EBITDA is expected between $1,380 million and $1,391 million (previously $1,357 million to $1,369 million). The company stated that the updated outlook reflects continued operating strength together with recognition of tariff refund benefits, and that the total refund claim attributable to fiscal 2025 duties is now approximately $145.4 million, with about $35.8 million expected in the fourth quarter of 2026. On the balance sheet, cash and cash equivalents were $487.8 million at September 30, 2026, down from $777.3 million at December 31, 2025, and total debt excluding deferred financing costs was $708.8 million. Inventories increased 42.5% to $1,428.2 million, and accounts receivable rose to $2,106.3 million from $1,667.1 million at year-end 2025. Nine-month operating cash flow was $107.4 million, compared with $47.1 million in the prior-year period. During the nine months, the company repurchased 1,301,500 ordinary shares for $169.7 million under its $750.0 million repurchase program.
  2. 8-KSharkNinja 8-K Report, Financial Results (Aug 5, 2026)SharkNinja, Inc. reported second-quarter 2026 net sales of $1,765.5 million, up 22.2% from $1,444.9 million a year earlier (21.6% on a constant currency basis). Growth was led by Cooking and Beverage Appliances (up 36.5% to $499.0 million), Beauty and Home Environment Appliances (up 65.3% to $285.8 million) and Food Preparation Appliances (up 13.3% to $458.6 million). International net sales rose 36.6% to $623.6 million. Profitability was mixed: GAAP net income fell 7.0% to $129.8 million, or $0.92 per diluted share, while Adjusted Net Income rose 29.3% to $178.2 million and Adjusted Net Income per diluted share rose 29.9% to $1.26. Adjusted EBITDA increased 18.6% to $264.9 million, or 15.0% of net sales. Gross margin declined 30 basis points to 48.7%, which the company attributed mainly to U.S. tariff costs, unfavorable foreign currency and increased retailer activations. General and administrative expenses rose 40.8%, driven by a $22.6 million increase in share-based compensation. SharkNinja raised its fiscal 2026 outlook. Net sales growth is now expected at 16.0% to 17.0%, up from 11.5% to 12.5%. Adjusted Net Income per diluted share is expected at $6.45 to $6.55, up from $6.00 to $6.10, and Adjusted EBITDA at $1,357 million to $1,369 million, up from $1,290 million to $1,300 million. The company said the revision reflects stronger underlying operations plus an expected tariff refund benefit. It submitted refund claims of approximately $247.1 million through U.S. Customs and Border Protection, which accepted them, and expects to recognize that amount as a reduction of cost of sales in the third quarter of 2026. Refunds tied to 2025 tariffs will be excluded from Adjusted metrics, while refunds tied to 2026 tariffs will be reflected in them. At June 30, 2026, the company held cash and cash equivalents of $779.8 million and total debt of $718.9 million, excluding unamortized deferred financing costs. Inventories rose 14.1% to $1,143.6 million from December 31, 2025. During the six months ended June 30, 2026, SharkNinja repurchased 1,008,368 ordinary shares for $119.7 million under its $750.0 million repurchase program, at an average price of $118.71 per share. Net cash provided by operating activities was $275.5 million for the six months, compared with a use of $63.9 million a year earlier.
  3. 8-KSharkNinja 8-K Report, Corporate Update (Jul 13, 2026)SharkNinja, Inc. filed a Current Report on Form 8-K dated July 13, 2026, under Item 8.01 (Other Events) to disclose a one-time limited waiver of its Insider Trading Policy and Code of Business Conduct and Ethics for Chairman CJ Xuning Wang. The policies restrict directors, executive officers, and other covered persons from trading in the Company's securities during defined quarterly blackout periods. The Board of Directors approved the waiver on July 10, 2026. On July 10, 2026, in connection with the waiver, Mr. Wang sold a portion of his holdings to an existing institutional investor in a transaction exempt from registration requirements. The filing states that after due consideration and a review of the facts and circumstances, the Board believed the waiver was appropriate in this limited case. The filing does not state the number of shares sold, the sale price, or the proceeds. For investors, the key takeaway is a governance disclosure: a senior insider traded during a period that would ordinarily be restricted, under a Board-approved exception. The filing is signed by Pedro J. Lopez-Baldrich, Chief Legal Officer.
  4. 8-KSharkNinja 8-K Report, Bylaw Amendment (Jun 18, 2026)SharkNinja, Inc. filed a Current Report on Form 8-K reporting the results of its 2026 Annual General Meeting, held June 18, 2026. Under Item 5.03, shareholders approved an Amendment and Restatement of the Company's Amended and Restated Memorandum and Articles of Association, effective upon that approval. The filing states the changes update shareholder disclosure requirements for proposing business or nominating directors, align the advance notice period with market practice for domestic issuers, and make other immaterial changes. A full description is incorporated by reference from the definitive proxy statement filed April 27, 2026, and the full text is filed as Exhibit 3.1. At the meeting, 134,828,408 of 141,568,925 outstanding Ordinary Shares, representing 95.23% of votes outstanding, were present in person, virtually, or by proxy. All seven director nominees were re-elected, though votes for several nominees were notably lower than others. Chi Kin Max Hui received 98,131,389 FOR votes against 26,564,567 AGAINST, and Timothy R. Warner received 104,937,676 FOR against 19,757,587 AGAINST. Shareholders also ratified Ernst & Young LLP as the independent registered accounting firm for the fiscal year ending December 31, 2026. Shareholders approved, on a non-binding advisory basis, the compensation of named executive officers, with 115,503,073 votes FOR and 9,231,410 AGAINST. In a non-binding vote on frequency, 123,853,354 shareholders selected "One Year," and the Board determined that future say-on-pay votes will occur annually. The shareholders also approved the Amendment and Restatement of the Articles, with 124,285,821 votes FOR and 448,385 AGAINST.
  5. 8-KSharkNinja 8-K Report, Financial Results (May 6, 2026)SharkNinja, Inc. reported first quarter 2026 results for the period ended March 31, 2026, with net sales rising 15.6% to $1,412.8 million from $1,222.6 million a year earlier (12.7% on a constant currency basis). Growth was led by Cleaning Appliances (up 17.0% to $516.6 million), Cooking and Beverage Appliances (up 19.8% to $414.6 million), and Beauty and Home Environment Appliances (up 40.8% to $194.1 million), while Food Preparation Appliances declined 3.3% to $287.5 million. International net sales grew 31.6% and Domestic net sales grew 8.4%. Gross margin decreased 10 basis points to 49.2%, with the filing citing tariff-related cost pressures in the U.S. market, partly offset by cost optimization and a lower sourcing service fee paid to JS Global. Profitability was mixed on a GAAP basis: net income rose 3.1% to $121.5 million and diluted EPS rose 2.4% to $0.85, while Adjusted Net Income increased 25.1% to $154.8 million and Adjusted Net Income per diluted share rose 25.3% to $1.09. Adjusted EBITDA increased 17.5% to $235.4 million, or 16.7% of net sales. Operating income rose 13.5% to $164.5 million, and share-based compensation increased $13.2 million within general and administrative expenses, a factor in the gap between GAAP and adjusted results. The company raised its fiscal 2026 outlook for net sales growth to 11.5% to 12.5% (from 10.0% to 11.0%), Adjusted Net Income per diluted share to $6.00 to $6.10 (from $5.90 to $6.00), and Adjusted EBITDA to $1,290 million to $1,300 million (from $1,270 million to $1,280 million). Cash and cash equivalents were $511.8 million at quarter-end, down from $777.3 million at December 31, 2025, and net cash used in operating activities was $156.3 million for the quarter. Total debt, excluding unamortized deferred financing costs, was $729.0 million.
View all 8-K filings →
View all filings (10-K, 10-Q, 8-K, proxy & more) →

04—See also

Related Companies

Annual revenue over each company’s last eight fiscal years, each strip on its own scale from zero.