10-Q · August 5, 2026
SharkNinja delivered a strong Q2 top-line result, with revenue up 22.2% YoY to $1.765B and all four product categories expanding; Beauty and Home Environment and international sales were the largest growth contributors.…
SN earnings analysis
10-Q · Filed November 4, 2026 · Our reading of the company's report
The latest report
SharkNinja reported a strong third quarter, with revenue of $1,976.4 million and diluted EPS of $2.39, beating consensus by 5.7% and 28.5%, respectively. Gross margin rose to 59.2% and operating margin to 22.4%,…
Read full summary
SharkNinja reported a strong third quarter, with revenue of $1,976.4 million and diluted EPS of $2.39, beating consensus by 5.7% and 28.5%, respectively. Gross margin rose to 59.2% and operating margin to 22.4%, although the sharp expansion was aided by IEEPA duty-refund benefits and may not be fully recurring. Management raised fiscal 2026 sales-growth, adjusted EPS, and adjusted EBITDA outlooks, but unresolved material weaknesses in internal controls remain the most significant filing-related risk.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $2.39
What stood out
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Revenue beat and accelerated sequential growth
Third-quarter net sales were $1,976.4 million, up from $1,770 million in 2026 Q2 by approximately $206.4 million, or 11.7%, and exceeded consensus of $1,870.5 million by $105.9 million, or 5.7%.
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Substantial EPS beat
Diluted EPS was $2.39, up from $0.92 in 2026 Q2 by $1.47 and above the $1.86 consensus estimate by $0.53, or 28.5%.
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Margins expanded sharply
Gross margin expanded to 59.2% from 48.7% in the prior quarter, an increase of 10.5 percentage points, while operating margin increased to 22.4% from 10.2%, an increase of 12.2 percentage points.
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Fiscal outlook raised
Management raised fiscal 2026 adjusted diluted EPS guidance to $6.65-$6.75 from $6.45-$6.55 and raised net sales growth guidance to 18.0%-19.0% from 16.0%-17.0%.
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Lower average debt balance
Average debt borrowings for the nine months ended September 30, 2026 were $728.8 million versus $817.1 million in the prior-year period, a decrease of $88.3 million, or 10.8%.
What to watch
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Material weaknesses remain unresolved
The company’s disclosure controls and procedures were not effective as of September 30, 2026 because material weaknesses in internal control over financial reporting continued from December 31, 2025. Management stated that remediation will continue throughout 2026 and provided no assurance as to when it will be completed.
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Interest-rate sensitivity
A hypothetical 100-basis-point change in interest rates would change annualized interest expense by approximately $7.3 million based on $728.8 million of average debt borrowings during the nine months ended September 30, 2026.
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Foreign-exchange exposure
Approximately 31.0% of third-quarter net sales and 38.3% of operating expenses were denominated in non-U.S. dollar currencies; a hypothetical 1,000-basis-point currency move would have an estimated $6.2 million translation impact for the quarter.
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No currency derivatives outstanding
The company had no derivative instruments outstanding as of September 30, 2026 after all foreign-currency forward contracts expired during the year ended December 31, 2025, leaving certain currency exposures unhedged.
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Ongoing capital allocation outflow
The company repurchased 293,132 shares for approximately $50.0 million during the quarter, reducing the remaining authorization under the $750.0 million program to $580.3 million at September 30, 2026.
Management's outlook
Management raised fiscal 2026 adjusted diluted EPS outlook from $6.45-$6.55 to $6.65-$6.75, net sales growth outlook from 16.0%-17.0% to 18.0%-19.0%, and adjusted EBITDA outlook from $1,357 million-$1,369 million to $1,380 million-$1,391 million. No absolute revenue guidance was provided.
Earlier filings 3
10-Q · May 6, 2026
SharkNinja, Inc. reported a strong first quarter for 2026, achieving revenues of $1.41 billion, which exceeded analyst expectations, while EPS came in at $0.85, slightly below the expected $1.00. The company raised its…
10-K · March 2, 2026
SharkNinja, Inc. reports a strong performance for the year ended December 31, 2025, with net sales reaching $6.4 billion, up 15.7% from the previous year. The company demonstrated improved margins with an operating…
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