Short answer
American Outdoor Brands, Inc. (AOUT) filed its fiscal 2026 10-K annual report with the SEC on Jun 25, 2026. It reported revenue of $191M (−14.3% year over year) and net income of −$9M.
- Top risk flagged: Regulatory risk from U.S. tariffs under IEEPA invalidated by Supreme Court Feb 2026; new Section 122 tariffs imposed since Feb 24, 2026
FY2026 key financial metrics · XBRL
- Revenue
- $191M
- −14.3% YoY
- Net income
- −$9M
- −11858.4% YoY
- Operating margin
- -4.7%
- −4.7 pp YoY
- Gross margin
- 44.7%
- +0.1 pp YoY
- EPS (diluted)
- −$0.73
- −7200.0% YoY
- ROE
- -5.6%
- −5.5 pp YoY
- Operating cash flow
- $6M
- +364.7% YoY
Source: XBRL data from the American Outdoor Brands, Inc. (AOUT) FY2026 10-K on SEC EDGAR. USD.
American Outdoor Brands, Inc. FY2026 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Design, source, and sell outdoor lifestyle products and shooting sports accessories targeting rugged outdoor enthusiasts across 19 brands
- New product emphasis: Expansion of Caldwell ClayCopter connected shooting ecosystem; introduction of BUBBA Pro Series Smart Fish Scale with smart tech integration for fishing
- Strategic shift: Increased focus on digital direct-to-consumer sales, representing 14.3% of net sales, leveraging e-commerce platform for brand growth and market penetration
- Quantitative highlight: Net sales declined to $190.5M in fiscal 2026 from $222.3M in 2025; R&D spend reduced to $6.1M in fiscal 2026 from $7.7M previous year
- Noteworthy fact: Over 50% of fiscal 2026 sales derived from products introduced post-2020, showing strong innovation-driven growth with 440+ active and pending patents
Management Discussion & Analysis
- Revenue $190.5M, down 14.3% YoY from $222.3M, driven by lower sales across all channels and categories
- Gross margin 44.7% vs 44.6% prior year, +10 bps due to pricing actions and higher new product sales
- Shooting sports sales $80.1M (-15.9%), outdoor lifestyle $110.5M (-13.1%); outdoor lifestyle decline less steep
- Operating loss $9.0M vs $0.15M loss prior year; operating margin (4.7)% vs breakeven prior year
- Operating cash flow $6.3M vs $1.4M prior year; repurchased 551K shares for $5.1M; capex $2.5M spent, $3.5-4.0M planned
- Management expects ongoing tariff uncertainty; recognizes $15.2M IEEPA tariff refund receivable; divesting ust branded product line within 12 months
Risk Factors
- Regulatory risk from U.S. tariffs under IEEPA invalidated by Supreme Court Feb 2026; new Section 122 tariffs imposed since Feb 24, 2026
- Geopolitical risk in Asia supply chain: sourcing from China, Taiwan, Thailand, Cambodia, Vietnam, Philippines, Myanmar with political and economic instability
- Operational risk: significant dependence on Asia-based third-party contract manufacturers without long-term supply contracts, risking supply shortages/delays
- Competitive risk from pricing pressures by largest e-commerce retailer contributing 18.3% of fiscal 2026 net sales
- Financial risk: significant revenue concentration with a few large customers lacking binding purchase contracts, leading to order cancellations and margin pressure
Generated from the filing text; verify against the original. How to read a 10-K
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