SharkNinja Reports Third Quarter 2026 Results

Raises Fiscal Year 2026 Outlook Across Key Metrics on Strong Operational Performance

NEEDHAM, Mass.--(BUSINESS WIRE)--SharkNinja, Inc. (“SharkNinja” or the “Company”) (NYSE: SN), a global product design and technology company, today announced its financial results for the third quarter ended September 30, 2026.

Highlights for the Third Quarter 2026 as compared to the Third Quarter 2025

• Net sales increased 21.2% to $1,976.4 million.
• Gross margin and Adjusted Gross Margin increased 910 and 560 basis points, respectively.
• Net income increased 79.3% to $338.4 million. Adjusted Net Income increased 55.1% to $330.9 million.
• Adjusted EBITDA increased 45.7% to $461.3 million, or 23.3% of net sales.

Mark Barrocas, Chief Executive Officer, commented: “Q3 net sales grew 21.2%, marking our second consecutive quarter above 20% and our 14th consecutive quarter of double-digit growth. Our topline strength was well balanced across Domestic and International, with tremendous performance across channels, categories, and geographies. We believe this reflects our evolution into a Consumer Technology company operating at hyperscale, which shows up in what we make, how we market and sell, how fast we learn, and how far we reach.

The strength of our three-pillar growth strategy is reflected in our results, from our entry into water filtration with the Ninja HydraSense, to new innovation in our core franchises, to the best net sales quarter ever in our Latin America distributor markets. Scale drives success, and success builds more scale. It’s a positive flywheel and we are just getting started. I have never been more excited to be in business, and we believe our advantages are poised to deliver exceptional results as we head into the holiday season.”

Three Months Ended September 30, 2026

Net sales increased 21.2% to $1,976.4 million, compared to $1,630.2 million during the same period last year, on both a reported and constant currency basis.

• Cleaning Appliances net sales increased by $24.2 million, or 4.1%, to $617.2 million, compared to $592.9 million in the prior year quarter, driven by the corded and cordless vacuums sub-categories.
• Cooking and Beverage Appliances net sales increased by $160.3 million, or 36.6%, to $597.7 million, compared to $437.4 million in the prior year quarter, driven by sales of the Ninja Luxe Café espresso machine and the strength of the Ninja Crispi.
• Food Preparation Appliances net sales increased by $74.9 million, or 18.3%, to $485.5 million, compared to $410.5 million in the prior year quarter, driven by strong growth in the blending sub-category.
• Beauty and Home Environment Appliances net sales increased by $86.7 million, or 45.8%, to $276.1 million, compared to $189.3 million in the prior year quarter, driven by continued strength of the skincare, air purifiers, and fan product portfolios.

Geographically, Domestic net sales increased by $213.0 million, or 19.4%, for the three months ended September 30, 2026, compared to the three months ended September 30, 2025. This increase was driven by growth within existing categories and the success of new product categories. International net sales increased by $133.2 million, or 25.2%, for the three months ended September 30, 2026, compared to the three months ended September 30, 2025. This increase was driven by continued growth in core categories.

Gross profit increased 43.1% to $1,170.0 million, or 59.2% of net sales, compared to $817.5 million, or 50.1% of net sales, in the prior year quarter. Adjusted Gross Profit increased 34.8% to $1,105.7 million, or 55.9% of net sales, compared to $820.1 million, or 50.3% of net sales, in the prior year quarter. The increases in gross margin and Adjusted Gross Margin of 910 and 560 basis points, respectively, were primarily driven by the recognition of benefits related to refund claims for duties previously paid under the International Emergency Economic Powers Act (“IEEPA”), net of amounts payable to factory partners, as well as cost optimization efforts and favorable shifts in categories and channels, partially offset by unfavorable foreign currency and increased retailer activations.

Gross margin benefited from $243.8 million related to refund claims for IEEPA duties, less $45.2 million payable to factory partners. Adjusted Gross Margin benefited from $134.3 million related to refund claims for IEEPA duties expensed in 2026.

Research and development expenses increased 27.0% to $117.9 million, or 6.0% of net sales, compared to $92.8 million, or 5.7% of net sales, in the prior year quarter. Adjusted Research and Development Expenses increased 24.4% to $110.6 million, or 5.6% of net sales, compared to $88.9 million, or 5.5% of net sales, in the prior year quarter.

Sales and marketing expenses increased 25.9% to $460.7 million, or 23.3% of net sales, compared to $365.9 million, or 22.4% of net sales, in the prior year quarter. Adjusted Sales and Marketing Expenses increased 25.3% to $444.6 million, or 22.5% of net sales, compared to $354.9 million, or 21.8% of net sales, in the prior year quarter.

General and administrative expenses increased 55.0% to $148.5 million, or 7.5% of net sales, compared to $95.8 million, or 5.9% of net sales, in the prior year quarter. Adjusted General and Administrative Expenses increased 43.3% to $125.0 million, or 6.3% of net sales, compared to $87.2 million, or 5.4% of net sales, in the prior year quarter.

Operating income increased 68.5% to $442.9 million, or 22.4% of net sales, compared to $262.9 million, or 16.1% of net sales, during the prior year quarter. Adjusted Operating Income increased 47.2% to $425.5 million, or 21.5% of net sales, compared to $289.0 million, or 17.7% of net sales, in the prior year quarter.

Net income increased 79.3% to $338.4 million, or 17.1% of net sales, compared to $188.7 million, or 11.6% of net sales, in the prior year quarter. Net income per diluted share increased 79.7% to $2.39, compared to $1.33 in the prior year quarter.

Adjusted Net Income increased 55.1% to $330.9 million, or 16.7% of net sales, compared to $213.4 million, or 13.1% of net sales, in the prior year quarter. Adjusted Net Income per diluted share increased 56.0% to $2.34, compared to $1.50 in the prior year quarter.

Adjusted EBITDA increased 45.7% to $461.3 million, or 23.3% of net sales, compared to $316.5 million, or 19.4% of net sales, in the prior year quarter.

Balance Sheet and Cash Flow Highlights

As of September 30, 2026, the Company had cash and cash equivalents of $487.8 million and available capacity under its revolving credit facility of $495.3 million. Total debt, excluding unamortized deferred financing costs, was $708.8 million.

Inventories as of September 30, 2026 increased 42.5% to $1,428.2 million, compared to $1,002.2 million as of December 31, 2025.

During the three and nine months ended September 30, 2026, the Company repurchased 293,132 and 1,301,500 ordinary shares, respectively, under its $750.0 million share repurchase program authorized by the Board of Directors on February 11, 2026 (the “Repurchase Program”) at an aggregate cost of $50.0 million and $169.7 million, respectively, at an average price of $170.57 and $130.38 per share, respectively.

Fiscal 2026 Outlook

For fiscal year 2026, SharkNinja expects:

• Net sales to increase 18.0% to 19.0% compared to the prior year (above the prior expectation of 16.0% to 17.0%).
• Adjusted Net Income per diluted share between $6.65 and $6.75, reflecting a 25.9% to 27.8% increase compared to the prior year (above the prior expectation of between $6.45 and $6.55, reflecting a 22.2% to 24.1% increase).
• Adjusted EBITDA between $1,380 million and $1,391 million, reflecting a 21.5% to 22.5% increase compared to the prior year (above the prior expectation of between $1,357 million and $1,369 million, reflecting a 19.5% to 20.5% increase).
• A GAAP effective tax rate of approximately 22.0% to 23.0%.
• Diluted weighted average shares outstanding of approximately 142.0 million.
• Capital expenditures in the range of $190 million to $210 million, tracking toward the midpoint of the range.

The Company’s updated outlook reflects continued operating strength together with the recognition of benefits from tariff refund claims. In the third quarter of 2026, SharkNinja recognized $109.6 million related to refund claims for duties previously paid under IEEPA that were expensed in fiscal 2025, compared to the Company’s original expectation of approximately $123.6 million, out of a total refund claim of approximately $247.1 million accepted by U.S. Customs and Border Protection (“CBP”). Consistent with the treatment of the underlying expense, these refunds benefited GAAP results and cash flow but were excluded from Adjusted Gross Profit, Adjusted Gross Margin, Adjusted Operating Income, Adjusted Net Income, Adjusted EBITDA, and Adjusted Net Income per diluted share.

The Company now expects the total refund claim amount attributable to fiscal 2025 duties to be approximately $145.4 million, reflecting the amount recognized in the third quarter and an additional approximately $35.8 million expected to be recognized in the fourth quarter of 2026. Subsequent to September 30, 2026, the Company submitted additional refund claims of approximately $35.8 million for duties previously paid under IEEPA through Phase 3 of the CBP refund process, which also primarily relate to duties previously expensed in 2025 and will be excluded from Adjusted results when recognized. The Company’s updated outlook reflects current tariff levels, including minimum rates of 10% for Indonesia, Malaysia, and Cambodia, and 12.5% for China, Vietnam, and Thailand, assumed to persist for the remainder of 2026.

Conference Call Details

A conference call to discuss the third quarter 2026 financial results is scheduled for today, November 4, 2026, at 8:30 a.m. Eastern Time. A live audio webcast of the conference call will be available online at ir.sharkninja.com. Investors and analysts interested in participating in the live call are invited to dial 1-833-461-5787 or 1-585-542-9983 and enter confirmation code 812934680. The webcast will be archived and available for replay.

About SharkNinja

SharkNinja is a global product design and technology company, with a diversified portfolio of 5-star rated lifestyle solutions that positively impact people’s lives in homes around the world. Powered by two trusted, global brands, Shark and Ninja, the company has a proven track record of bringing disruptive innovation to market, and developing one consumer product after another has allowed SharkNinja to enter multiple product categories, driving significant growth and market share gains. Headquartered in Needham, Massachusetts with more than 4,100 associates, the company’s products are sold at key retailers, online and offline, and through distributors around the world. For more information, please visit sharkninja.com.

Forward-looking statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect our current views with respect to, among other things, future events and our future business, financial condition, results of operations and prospects and fiscal 2026 outlook. These statements are often, but not always, made through the use of words or phrases such as “may,” “should,” “could,” “predict,” “potential,” “believe,” “will likely result,” “expect,” “continue,” “will,” “anticipate,” “seek,” “estimate,” “intend,” “plan,” “projection,” “would” and “outlook,” or the negative version of those words or phrases or other comparable words or phrases of a future or forward-looking nature. These forward-looking statements are not statements of historical fact, and are based on current expectations, estimates and projections about our industry as well as certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond our control. These forward-looking statements are subject to a number of known and unknown risks, uncertainties and assumptions, which you should consider and read carefully, including but not limited to risks related to: our ability to maintain and strengthen our brands to generate and maintain ongoing demand for our products; our ability to commercialize a continuing stream of new products and line extensions; our ability to manage our future growth effectively; the level of consumer spending on our products; our ability to penetrate and expand into new markets; our ability to maintain product safety, quality and performance; highly competitive markets; our reliance on suppliers; our ability to timely and effectively obtain shipments of products from our suppliers and deliver products to our retailers, consumers and distributors; our ability to maintain existing consumers and attract new consumers; our ability to expand our DTC sales channel; our significant international operations; our ability to accurately forecast demand and manage product inventory; inflation, changes in the cost or availability of raw materials, energy, transportation and other necessary supplies and services; our reliance on our retailers and distributors; use of social media and influencers; financial difficulties; operational risks; our products being counterfeited or imitated in the market; payment-related risks; the failure of any bank in which we deposit our funds; seasonal and quarterly variations; conflicts with our retailers; our ability to generate anticipated cost savings, successfully implement our strategies or efficiently manage our supply chain and manufacturing processes; potential acquisitions of or investments in other companies; our ability to meet demand and store inventory; our dependence on highly skilled personnel; intellectual property, information technology and data privacy; our legal, tax, and regulatory environment, including significant changes to U.S. trade policies that restrict imports or increase import tariffs; our indebtedness; changes in credit markets and decisions made by credit providers; currency exchange rate fluctuations; our dependence on cash generated from our operations to support our growth; future financing activities; our critical accounting policies; our goodwill, other intangible assets or fixed assets; divestitures and product category exits; our status as a holding company; the separation and distribution from JS Global; the active trading market for our ordinary shares; substantial shares of our ordinary shares; our limited history as a stand-alone public company; the requirements of being a public company; our internal control over financial reporting; our transition to a U.S. domestic reporting company; our significant shareholder Mr. Wang; the limited experience of our management team in managing a U.S. public company; risks related to our Memorandum and Articles of Association; risks under the laws of the Cayman Islands; claims for indemnification; and dividends on our ordinary shares.

This list of factors should not be construed as exhaustive and should be read in conjunction with those described in our Annual Report on Form 10-K filed with the SEC under “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and other filings we make with the SEC. We operate in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for us to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, the future events and trends discussed in this press release, and our future levels of activity and performance, may not occur and actual results could differ materially and adversely from those described or implied in the forward-looking statements. As a result, you should not regard any of these forward-looking statements as a representation or warranty by us or any other person or place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made, and we do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. In addition, statements that contain “we believe” and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based on information available to us as of the date of this press release. While we believe that this information provides a reasonable basis for these statements, this information may be limited or incomplete. These statements are inherently uncertain, and investors are cautioned not to unduly rely on these statements. We qualify all of our forward-looking statements by the cautionary statements contained in this press release.

Investor Relations:
James Lamb, CFA
SVP, Investor Relations & Treasury
IR@sharkninja.com

Anna Kate Heller
ICR
SharkNinja@icrinc.com

Media Relations:
Jason Schlossberg
SVP, Chief Communications Officer
PR@sharkninja.com