$SPWH

SPORTSMAN'S WAREHOUSE HOLDINGS, INC.

CIK:0001132105|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 01, 2026	Aug. 02, 2025	Aug. 01, 2026	Aug. 02, 2025
Income Statement [Abstract]
Net sales	$ 295,583	$ 293,899	$ 551,661	$ 543,002
Cost of goods sold	199,573	199,950	379,868	373,410
Gross profit	96,010	93,949	171,793	169,592
Selling, general, and administrative expenses	97,143	97,166	191,028	192,422
Loss from operations	(1,133)	(3,217)	(19,235)	(22,830)
Other losses	0	0	77	76
Interest expense	3,305	3,769	5,930	6,664
Loss before income taxes	(4,438)	(6,986)	(25,242)	(29,570)
Income tax (benefit) expense	(11)	97	1,033	(1,233)
Net loss	$ (4,427)	$ (7,083)	$ (26,275)	$ (28,337)
Loss per share:
Basic	$ (0.11)	$ (0.18)	$ (0.68)	$ (0.74)
Diluted	$ (0.11)	$ (0.18)	$ (0.68)	$ (0.74)
Weighted average shares outstanding:
Basic	39,044	38,376	38,904	38,260
Diluted	39,044	38,376	38,904	38,260

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Aug. 01, 2026	Aug. 02, 2025
Cash flows from operating activities:
Net loss	$ (26,275)	$ (28,337)
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation of property and equipment	17,193	19,765
Amortization of discount on debt and deferred financing fees	370	285
Amortization of definite lived intangible	28	17
Loss on asset dispositions	69	64
Deferred income taxes	351	(946)
Stock-based compensation	1,741	1,620
Change in operating assets and liabilities, net of amounts acquired:
Accounts receivable, net	1,728	(257)
Operating lease assets and liabilities	(10,981)	(2,320)
Merchandise inventories	(86,115)	(101,541)
Prepaid expenses and other	(467)	(1,612)
Accounts payable	26,437	24,261
Accrued expenses	8,076	2,167
Income taxes payable	403	35
Net cash used in operating activities	(67,442)	(86,799)
Cash flows from investing activities:
Purchase of property and equipment	(7,704)	(11,180)
Proceeds from sale of property and equipment	8	11
Net cash used in investing activities	(7,696)	(11,169)
Cash flows from financing activities:
Net borrowings on line of credit	77,594	76,561
Borrowings on term loan		20,000
(Decrease) increase in book overdraft	(9)	903
Proceeds from issuance of common stock per employee stock purchase plan	67	97
Payment of finance leases	113
Payment of withholdings on restricted stock units	(302)	(196)
Payment of deferred financing costs and discount on term loan	(2,007)	(425)
Net cash provided by financing activities	75,456	96,940
Net change in cash and cash equivalents	318	(1,028)
Cash and cash equivalents at beginning of period	1,659	2,832
Cash and cash equivalents at end of period	1,977	1,804
Cash paid during the period for:
Interest, net of amounts capitalized	5,730	6,286
Income taxes, net of refunds	279	(321)
Supplemental schedule of noncash activities:
Purchases of property and equipment included in accounts payable and accrued expenses	$ 823	$ 2,098

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Aug. 01, 2026	Jan. 31, 2026
Current assets:
Cash and cash equivalents	$ 1,977	$ 1,659
Accounts receivable, net	2,665	4,390
Merchandise inventories	398,973	312,858
Prepaid expenses and other	20,683	18,834
Total current assets	424,298	337,741
Operating lease right of use asset	285,016	288,590
Finance lease right of use asset	1,318	1,215
Property and equipment, net	123,791	133,329
Goodwill	1,496	1,496
Definite lived intangibles, net	183	211
Total assets	836,102	762,582
Current liabilities:
Accounts payable	71,400	44,933
Accrued expenses	110,518	102,450
Income taxes payable	467	64
Operating lease liability, current	55,492	53,763
Finance lease liability	367	295
Revolving line of credit	125,118	47,524
Total current liabilities	363,362	249,029
Long-term liabilities:
Deferred income taxes	351	0
Term loan, net	43,909	44,165
Operating lease liability, noncurrent	263,753	279,933
Finance lease liability, noncurrent	936	895
Total long-term liabilities	308,949	324,993
Total liabilities	672,311	574,022
Commitments and contingencies
Stockholders' equity:
Common stock, $.01 par value; 100,000 shares authorized; 39,120 and 38,641 shares issued and outstanding, respectively	391	386
Additional paid-in capital	90,412	88,911
Accumulated earnings	72,988	99,263
Total stockholders' equity	163,791	188,560
Total liabilities and stockholders' equity	$ 836,102	$ 762,582