01—Abstract
Summary
Summary of the 8-K filed May 6, 2026. Cited figures are marked; the original filing is the authoritative source.
SharkNinja, Inc. reported first quarter 2026 results for the period ended March 31, 2026, with net sales rising 15.6% to $1,412.8 milliona 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 millionb), 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 millionc 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 $6.10d (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.
02—Key points
Key Highlights
- Net sales increased 15.6% to $1,412.8 million, with 12.7% growth on a constant currency basis.
- Adjusted Net Income rose 25.1% to $154.8 million and Adjusted Net Income per diluted share rose 25.3% to $1.09; GAAP diluted EPS rose 2.4% to $0.85.
- Adjusted EBITDA increased 17.5% to $235.4 million, or 16.7% of net sales, and the company cited its fourth consecutive quarter of leverage in Adjusted Operating Expenses as a percentage of net sales.
- International net sales grew 31.6% to $496.8 million, outpacing Domestic net sales growth of 8.4%.
- Gross margin declined 10 basis points to 49.2%, with the filing attributing the pressure to U.S. tariff-related costs.
- Fiscal 2026 outlook raised: net sales growth of 11.5% to 12.5%, Adjusted EPS of $6.00 to $6.10, and Adjusted EBITDA of $1,290 million to $1,300 million.
- Cash fell to $511.8 million from $777.3 million at year-end 2025, with operating cash flow of negative $156.3 million for the quarter.
03—Questions
Frequently Asked Questions
What drove the strongest sales growth in the first quarter of 2026?
Beauty and Home Environment Appliances grew 40.8% to $194.1 million, driven by skincare products. Cooking and Beverage Appliances rose 19.8% to $414.6 million on Ninja Luxe Café and Ninja Crispi, and Cleaning Appliances rose 17.0% to $516.6 million on carpet extractors and corded vacuums.
Why did gross margin decline, and how did adjusted gross margin compare?
The filing says gross margin fell 10 basis points to 49.2%, primarily due to tariff-related cost pressures in the U.S. market, partially offset by cost optimization, favorable category and channel mix, and lower amounts owed under a sourcing service fee to JS Global, which ended July 31, 2025. Adjusted Gross Margin fell 100 basis points to 49.2% from 50.2%.
What changed in the fiscal 2026 outlook?
SharkNinja raised its fiscal 2026 guidance 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). The company also expects capital expenditures of $190 million to $210 million and a GAAP effective tax rate of about 22.0% to 23.0%.
Why do GAAP and adjusted earnings differ so much this quarter?
Share-based compensation rose to $30.3 million from $11.6 million, and the company excludes it in adjusted measures. Foreign currency losses of $11.3 million, compared with gains of $13.0 million in the prior-year quarter, also widen the gap. Adjusted Net Income adds back these items and amortization of acquired intangibles, net of tax.
How did the balance sheet and cash flow look at the end of the quarter?
Cash and cash equivalents were $511.8 million, and available revolving credit capacity was $489.1 million. Total debt, excluding unamortized deferred financing costs, was $729.0 million. Net cash used in operating activities was $156.3 million, compared with $54.9 million in the prior-year quarter, and inventories rose 3.2% to $1,034.6 million from December 31, 2025.
04—Continue