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SHARKNINJA INC earnings calls

SN · every analyst question and management's answer

Aug 5, 2026 earnings call — Strong global sales and raised 2026 outlook

Raised 2026 outlook; adjusted net income per diluted share now expected to be $6.45 to $6.55.

Revenue $1.8B (est $1.7B) · EPS $1.26 (est $1.11)

Key quotes

"Roughly 20 of the 25 new products we launch each year go into existing categories."

— Mark Adam Barrocas (CEO) · Core product innovation

"At the end of the quarter, we were live with TikTok Shop in 7 countries compared to 0 in the year ago period."

— Mark Adam Barrocas (CEO) · International and social commerce

"In July 2026, SharkNinja submitted refund claims of approximately $247.1 million to the U.S. Customs and Border Protection, or CBP, refund process, and the CBP accepted those claims."

— Adam Quigley (CFO) · Tariff refund and outlook

Analyst Q&A 4

market size and direct vs retail margins

Q (Randal Konik · Jefferies): He asked how big the total and served markets (TAM/SAM) are now with new products and geography. He also asked about direct selling versus wholesale, margin differences, and marketing leverage.

A: Management said available TAM was about $120 billion at the start of Q2 and expects to be participating in $125 billion to $130 billion by year end, noting new entries like the Ninja Crispi Microwave into a multibillion-dollar, over $3 billion TAM and a 41st subcategory. They said DTC, TikTok Shop and social commerce will grow faster than retail and that DTC/social channels come at a higher structural gross margin. The company will keep an omnichannel strategy while scaling DTC and related CRM and Salesforce tools.

"So I think by coming out of the year, Randy, we'll be participating in $125 billion to $130 billion available TAM against the overall revenue that we have." — Mark Adam Barrocas (CEO)

domestic growth, DTC pace and inventory

Q (Brooke Roach · Goldman Sachs): She asked for detail on domestic growth and how large DTC is today and will be. She also asked about inventory levels in the channel and whether domestic can grow double digits in the back half.

A: Management said the U.S. business grew 18% and Canada was down 17% but should grow in the second half, and they believe the domestic business will grow double digits in the back half. They do not break out the percent of D2C today but expect D2C and affiliates to grow faster than the rest of the business through the end of '27. They said POS outpaced shipments in Q2 mainly due to Prime Day timing, retailer inventory is extremely healthy, and the company's inventory is also extremely healthy heading into the back half.

"Look, I have been excited since the beginning of the year saying that I believe our domestic business is a double-digit growth business." — Mark Adam Barrocas (CEO)

retailer placement and AI promotions work

Q (Steven Forbes · Guggenheim): He asked how retail partnerships and planogram placement have changed year-over-year, and whether earlier planogram moves are possible for Holiday 2026 and early next year. He also asked for an update on the AI initiatives for promotions and media optimization and the expected benefits.

A: Management said they now have many more ways to reach consumers in Europe than a year ago, including D2C sites, TikTok Shop in 13 countries, and pure players, and they are having conversations with European retailers about planogram changes though some will not move their schedules. In the U.S., they cited new end caps and promotional work with Walmart, Target, Costco and Sam's, and even new placement with retailers like Ulta. On AI, they went live with a Phase 1 promotions and optimization project with Palantir that showed promise, have started a Phase 2 (about 4 months), expect benefits in Q4 promotions and media in the U.S., U.K., Germany and France, and plan a media optimization system with Amazon/AWS at the end of September with scaling into 2027.

"Look, we went live a couple of weeks ago with a Phase 1 initiative on promotions and optimization management with Palantir." — Mark Adam Barrocas (CEO)

cooking category growth and new subcategories

Q (Peter Keith · Piper Sandler): He asked what drove strong growth in Cooking and Beverage Appliances this quarter. He also asked to confirm the number of subcategory launches this year and whether this relates to the Jailbreak AI initiative.

A: Management said strong growth came from expansion in espresso and coffee, launching the Ninja AutoBarista at $949, scaling espresso into new countries like Spain and Italy, and building the Ninja Crispi franchise with new models including DualZone Crispi. They confirmed launches earlier this year (BlastBoss, Crispi Microwave) and a new subcategory in Q3, noting they publicly target a minimum of 2 subcategories a year. They said AI and the Jailbreak work will more meaningfully impact product development in 2027, though some products with enhanced software will appear in Q3 and Q4 of this year.

"During the quarter, we launched a fully automatic coffee maker, the Ninja AutoBarista that launched at $949 and was off to a great start." — Mark Adam Barrocas (CEO)

AI-generated notes on the earnings call transcript. Quotes are taken from the transcript. This is not a FolioObs investment view.

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