What drove the increase in second-quarter net sales?

Net sales increased $196.2 million, or 15.7%, led by Food Preparation Appliances (up $139.9 million, or 52.8%, on strong SLUSHi frozen drink and ice cream maker sales), Beauty and Home Environment Appliances (up 25.0%, driven by FlexBreeze fans, air purifiers and CryoGlow face masks) and Cleaning Appliances (up 7.6%). Cooking and Beverage Appliances declined 3.6%, mainly in air fryers and outdoor grills.

How did profitability change in the quarter?

Operating income rose 62.4% to $168.6 million, or 11.7% of net sales, from $103.8 million. Net income rose to $139.6 million from $68.0 million. The filing attributes the gross margin gain to cost optimization and a lower contractual sourcing service fee paid to JS Global, partly offset by tariffs. Other income, net of $26.0 million was largely due to foreign currency changes.

What is the company's liquidity position?

At June 30, 2025, cash and cash equivalents were $188.2 million, and $489.1 million was available under the 2023 Revolving Facility after $10.9 million of letters of credit. Total debt excluding deferred financing costs was $759.4 million. The company stated its cash, operating cash flow and revolver should be sufficient for at least the next 12 months. Operating cash flow was negative $63.9 million for the six months, largely due to working capital increases in inventories and prepaid expenses.

What changed in the fiscal 2025 outlook?

SharkNinja raised its net sales growth expectation to 13% to 15% from 11% to 13%, and its Adjusted Net Income per diluted share expectation to $5.00 to $5.10 from $4.90 to $5.00. Adjusted EBITDA guidance increased to $1,100 million to $1,120 million from $1,090 million to $1,110 million. The company also expects a GAAP effective tax rate of about 24% to 25% and capital expenditures of $180 million to $200 million.

Are there any notable risks or open issues disclosed?

The filing reports material weaknesses in internal control over financial reporting as of December 31, 2024, involving IT general controls, revenue and receivables, inventory and cost of goods sold, purchases, and the financial close process. Remediation is ongoing and the weaknesses cannot be considered remediated until controls operate effectively over time. A voluntary recall of the Ninja Foodi OP300 pressure cooker, announced in May 2025, resulted in a $3.3 million recall liability and $8.1 million of six-month product recall adjustments to operating income.

SN 8-K SEC Disclosure — Aug 7, 2025

01—Abstract

Summary

Summary of the 6-K filed August 7, 2025. Cited figures are marked; the original filing is the authoritative source.

SharkNinja, Inc. furnished its Form 6-K on August 7, 2025 to report results for the second quarter ended June 30, 2025.

Net sales rose 15.7% to $1,444.9 million^a from $1,248.7 million a year earlier, or 13.8% on a constant currency basis. Growth came from Food Preparation Appliances (up 52.8%, driven by the SLUSHi frozen drink line), Beauty and Home Environment Appliances (up 25.0%) and Cleaning Appliances (up 7.6%), partly offset by a 3.6% decline in Cooking and Beverage Appliances. Gross margin improved 90 basis points to 49.0%, and operating income rose 62.4% to $168.6 million.

Net income more than doubled to $139.6 million^b, or $0.98 per diluted share, from $68.0 million. Adjusted EBITDA rose 33.2% to $223.4 million, or 15.5% of net sales. Balance sheet and cash flow were weaker.

Cash and cash equivalents fell to $188.2 million^c from $363.7 million at December 31, 2024. Inventories rose 25.2% year over year to $1,052.7 million, and net cash used in operating activities was $63.9 million for the six months, compared with $19.9 million a year earlier. Total debt, excluding deferred financing costs, was $759.4 million, and $489.1 million was available under the revolving credit facility.

The filing also reports material weaknesses in internal control over financial reporting as of December 31, 2024, which remain under remediation. Management raised its fiscal 2025 outlook.

It now expects net sales to grow 13% to 15%, up from the prior 11% to 13%, and Adjusted Net Income per diluted share of $5.00 to $5.10^d, up from $4.90 to $5.00. Adjusted EBITDA guidance rose to $1,100 million to $1,120 million, and capital expenditures are expected at $180 million to $200 million.

02—Key points

Key Highlights

Net sales rose 15.7% to $1,444.9 million in Q2 2025, with Food Preparation Appliances up 52.8% to $404.8 million.
Net income increased 105.1% to $139.6 million, or $0.98 per diluted share, versus $0.48 a year earlier.
Adjusted EBITDA increased 33.2% to $223.4 million, or 15.5% of net sales; Adjusted Net Income rose 38.4% to $137.8 million.
Gross margin expanded 90 basis points to 49.0%, driven by cost optimization and a decline in the sourcing service fee paid to JS Global, partly offset by tariffs.
Fiscal 2025 outlook was raised: net sales growth of 13% to 15% and Adjusted Net Income per diluted share of $5.00 to $5.10.
Cash fell to $188.2 million and inventories rose 25.2% to $1,052.7 million; operating cash flow was negative $63.9 million for the six months.
Management identified material weaknesses in internal control over financial reporting as of December 31, 2024, which are still being remediated.

03—Questions

Frequently Asked Questions

What drove the increase in second-quarter net sales?
Net sales increased $196.2 million, or 15.7%, led by Food Preparation Appliances (up $139.9 million, or 52.8%, on strong SLUSHi frozen drink and ice cream maker sales), Beauty and Home Environment Appliances (up 25.0%, driven by FlexBreeze fans, air purifiers and CryoGlow face masks) and Cleaning Appliances (up 7.6%). Cooking and Beverage Appliances declined 3.6%, mainly in air fryers and outdoor grills.
How did profitability change in the quarter?
Operating income rose 62.4% to $168.6 million, or 11.7% of net sales, from $103.8 million. Net income rose to $139.6 million from $68.0 million. The filing attributes the gross margin gain to cost optimization and a lower contractual sourcing service fee paid to JS Global, partly offset by tariffs. Other income, net of $26.0 million was largely due to foreign currency changes.
What is the company's liquidity position?
At June 30, 2025, cash and cash equivalents were $188.2 million, and $489.1 million was available under the 2023 Revolving Facility after $10.9 million of letters of credit. Total debt excluding deferred financing costs was $759.4 million. The company stated its cash, operating cash flow and revolver should be sufficient for at least the next 12 months. Operating cash flow was negative $63.9 million for the six months, largely due to working capital increases in inventories and prepaid expenses.
What changed in the fiscal 2025 outlook?
SharkNinja raised its net sales growth expectation to 13% to 15% from 11% to 13%, and its Adjusted Net Income per diluted share expectation to $5.00 to $5.10 from $4.90 to $5.00. Adjusted EBITDA guidance increased to $1,100 million to $1,120 million from $1,090 million to $1,110 million. The company also expects a GAAP effective tax rate of about 24% to 25% and capital expenditures of $180 million to $200 million.
Are there any notable risks or open issues disclosed?
The filing reports material weaknesses in internal control over financial reporting as of December 31, 2024, involving IT general controls, revenue and receivables, inventory and cost of goods sold, purchases, and the financial close process. Remediation is ongoing and the weaknesses cannot be considered remediated until controls operate effectively over time. A voluntary recall of the Ninja Foodi OP300 pressure cooker, announced in May 2025, resulted in a $3.3 million recall liability and $8.1 million of six-month product recall adjustments to operating income.

04—Continue

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