Revelyst, Inc.

CIK:0001943705|SEC Filings

CONDENSED COMBINED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 24, 2023	Sep. 30, 2024	Sep. 24, 2023
Operating expenses:
Operating income (loss)	$ 4,323	$ (4,797)	$ 3,572	$ (10,094)
Revelyst Business
Sales, net (including related party sales of $381 and $857 for the three and six months ended September 30, 2024, respectively, and $5,370 and $10,215 for the three and six months ended September 24, 2023, respectively)	314,975	332,821	589,195	654,264
Cost of sales	216,678	239,062	409,508	465,779
Gross profit	98,297	93,759	179,687	188,485
Operating expenses:
Research and development	9,508	10,306	20,031	20,670
Selling, general, and administrative	83,594	88,250	174,871	177,909
(Gain) loss on divestitures, net (Note 6)	872	0	(18,787)	0
Operating income (loss)	4,323	(4,797)	3,572	(10,094)
Other income (expense), net (Note 4)	255	(1,174)	178	(1,715)
Interest income	12	37	26	79
Income (loss) before income taxes	4,590	(5,934)	3,776	(11,730)
Income tax (provision) benefit	(34)	1,592	(506)	2,030
Net income (loss)	4,556	(4,342)	3,270	(9,700)
Other comprehensive income, net of tax:
Change in derivative instruments, net of tax benefit (expense) of $0 and $0 for the three and six months ended September 30, 2024, respectively, and $(419) and $(641) for the three and six months ended September 24, 2023, respectively	(855)	1,312	(538)	2,008
Change in cumulative translation adjustment, net of tax benefit (expense) of $0 and $0 for the three and six months ended September 30, 2024, respectively, and $(66) and $(66) for the three and six months ended September 24, 2023, respectively	1,002	(759)	753	(95)
Total other comprehensive income	147	553	215	1,913
Comprehensive income (loss)	$ 4,703	$ (3,789)	$ 3,485	$ (7,787)

CONDENSED COMBINED STATEMENTS OF CASH FLOWS (unaudited) - Revelyst Business - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2024	Sep. 24, 2023
Operating Activities
Net income (loss)	$ 3,270	$ (9,700)
Adjustments to net loss to arrive at cash provided by operating activities:
Depreciation	8,114	10,129
Amortization of intangible assets	24,847	25,217
Impairment of long-lived assets	8,043	2,802
Gain on sale of businesses (Note 6)	(18,787)	0
Deferred income taxes	(805)	176
Foreign currency translation gains, net	(302)	(240)
Loss on disposal of property, plant, and equipment	419	68
Share-based compensation	3,837	1,507
Changes in assets and liabilities:
Net receivables	(2,016)	(14,781)
Net inventories	15,282	48,675
Prepaid expenses	(3,679)	12,107
Accounts payable	(145)	11,537
Accrued compensation	15	(707)
Accrued income taxes	(516)	(239)
Sales tax	(1,226)	(392)
Other assets and liabilities	4,084	12,981
Cash provided by operating activities	40,435	99,140
Investing Activities
Capital expenditures	(4,015)	(6,632)
Proceeds from the sale of businesses	39,538	0
Proceeds from the disposition of property, plant and equipment	0	128
Asset acquisition	(263)	0
Cash provided by (used for) investing activities	35,260	(6,504)
Financing Activities
Net transfers to Parent	(77,025)	(73,006)
Payments made for contingent consideration	(750)	(8,585)
Cash used for financing activities	(77,775)	(81,591)
Effect of foreign currency exchange rate fluctuations on cash	874	(699)
Increase in cash and cash equivalents	(1,206)	10,346
Cash and cash equivalents at beginning of period	22,946	15,541
Cash and cash equivalents at end of period	21,740	25,887
Noncash investing activity:
Capital expenditures included in accounts payable and other accrued liabilities	$ 693	$ 870

BALANCE SHEETS - USD ($)	Sep. 30, 2024	Mar. 31, 2024
ASSETS
Cash	$ 0	$ 0
Total assets	0	0
Liabilities
Total liabilities	0	0
Stockholder equity:
Common stock	10,000	10,000
Stock subscription receivable	(10,000)	(10,000)
Total parent company equity	0	0
Total liabilities and parent company equity	$ 0	$ 0