$SWBI

SMITH & WESSON HOLDING CORP

CIK:0001092796|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jul. 31, 2026	Jul. 31, 2025
Income Statement [Abstract]
Net sales	$ 112,587	$ 85,077
Cost of sales	80,317	63,003
Gross profit	32,270	22,074
Operating expenses:
Research and development	2,557	3,007
Selling, marketing, and distribution	10,158	8,752
General and administrative	15,338	13,316
Gain on sale/disposition of assets, net	0	(43)
Total operating expenses	28,053	25,032
Operating income	4,217	(2,958)
Other expense, net:
Other income, net	98	62
Interest expense, net	(298)	(1,205)
Total other expense, net	(200)	(1,143)
Income/(loss) before income taxes	4,017	(4,101)
Income tax expense/(benefit)	1,429	(690)
Net income/(loss)	$ 2,588	$ (3,411)
Net income/(loss) per share:
Basic - net income/(loss)	$ 0.06	$ (0.08)
Diluted - net income/(loss)	$ 0.06	$ (0.08)
Weighted average number of common shares outstanding:
Basic	44,778	44,262
Diluted	45,476	44,262

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2026	Jul. 31, 2025
Cash flows from operating activities:
Net income/(loss)	$ 2,588	$ (3,411)
Adjustments to reconcile net income/(loss) to net cash used in operating activities:
Depreciation and amortization	7,701	8,436
Gain on sale/disposition of assets	0	(43)
Stock-based compensation expense	1,813	1,892
Non-cash sublease income	(461)	(442)
Other, net	(77)	(51)
Changes in operating assets and liabilities:
Accounts receivable	10,303	14,559
Inventories	(24,411)	(13,257)
Prepaid expenses and other current assets	(1,388)	(2,781)
Income taxes	1,289	(817)
Accounts payable	3,033	(6,429)
Accrued payroll and incentives	(8,619)	(1,371)
Accrued profit sharing	744	0
Accrued expenses and deferred revenue	(1,988)	(4,092)
Accrued warranty	167	(127)
Other assets	(294)	23
Other non-current liabilities	754	(199)
Net cash used in operating activities	(8,846)	(8,110)
Cash flows from investing activities:
Purchases of marketable securities	(1,456)	(3,168)
Proceeds from sale of marketable securities	159	0
Payments to acquire patents and software	(11)	(54)
Proceeds from sale of property and equipment	0	49
Payments to acquire property and equipment	(11,929)	(4,291)
Net cash used in investing activities	(13,237)	(7,464)
Cash flows from financing activities:
Proceeds from loans and notes payable	20,000	20,000
Payments on loans and notes payable	0	(5,000)
Payments on finance lease obligation	(52)	(46)
Dividend distribution	(5,961)	(5,855)
Payment of employee withholding tax related to restricted stock units	(1,395)	(792)
Net cash provided by financing activities	12,592	8,307
Net decrease in cash and cash equivalents	(9,491)	(7,267)
Cash and cash equivalents, beginning of period	28,190	25,231
Cash and cash equivalents, end of period	18,699	17,964
Supplemental disclosure of cash flow information
Interest, net of amounts capitalized	330	1,288
Supplemental Disclosure of Non-cash Investing and Financing Activities:
Purchases of property and equipment included in accounts payable	4,394	3,056
Capital lease included in accrued expenses and finance lease payable	531	398
Supplemental Disclosure of Cash Paid for Income Taxes:
U.S. Federal	0	0
U.S. State and local	152	194
Total cash paid during the period for income taxes	$ 152	$ 194

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jul. 31, 2026	Apr. 30, 2026
Current assets:
Cash and cash equivalents	$ 18,699	$ 28,190
Marketable securities	6,536	5,162
Accounts receivable, net of allowances for credit losses of $5 on July 31, 2026 and April 30, 2026	29,711	40,014
Inventories	180,661	156,250
Prepaid expenses and other current assets	8,558	7,170
Income tax receivable	3,328	4,617
Total current assets	247,493	241,403
Property, plant, and equipment, net of accumulated depreciation and amortization of $403,821 on July 31, 2026 and $397,668 on April 30, 2026	242,813	238,643
Intangibles, net	1,879	1,956
Goodwill	19,024	19,024
Deferred income taxes	4,347	4,347
Other assets	7,748	7,393
Total assets	523,304	512,766
Current liabilities:
Accounts payable	37,393	34,570
Accrued expenses and deferred revenue	17,095	19,146
Accrued payroll and incentives	6,577	15,196
Accrued profit sharing	5,899	5,155
Accrued warranty	1,467	1,300
Total current liabilities	68,431	75,367
Notes and loans payable (Note 3)	39,185	19,121
Finance lease payable, net of current portion	31,676	32,163
Other non-current liabilities	10,310	9,556
Total liabilities	149,602	136,207
Commitments and contingencies (Note 8)
Stockholders’ equity:
Preferred stock, $0.001 par value, 20,000,000 shares authorized, no shares issued or outstanding	0	0
Common stock, $0.001 par value, 100,000,000 shares authorized, 44,839,680 shares issued and outstanding on July 31, 2026 and 44,605,993 shares issued and outstanding on April 30, 2026	45	45
Additional paid-in capital	3,194	2,776
Retained earnings	370,463	373,738
Total stockholders’ equity	373,702	376,559
Total liabilities and stockholders' equity	$ 523,304	$ 512,766