SharkNinja Inc.

Strong Q2 momentum & diversified growth (good/surprising): Q2 net sales rose 22.2% YoY to $1.77B, marking the 13th straight quarter of double-digit growth and accelerating to >22% YoY (fastest growth since Q4 2024). Growth was broad-based across categories and geographies—Domestic +15.5% and International +36.6% (with the U.K. +18.7% to $255M). Management emphasized that this isn’t dependent on one “viral” hit product—most new launches feed the large core and the strategy is repeatable.

Profitability beat expectations despite tariff headwinds (good): Adjusted EBITDA +18.6% YoY to $265M; adjusted EBITDA margin ~15% (down ~50 bps YoY due to tariffs annualization). Adjusted EPS +~30% YoY to $1.26 (strong earnings compounding). Gross margin ~48.7% (tariffs remained a “real headwind,” but mix/cost actions helped). Operating expense leverage continued: adjusted operating expenses were 35.6% of sales, improving vs last year.

Raised 2026 guidance meaningfully (good/forecast): Full-year net sales now expected +16% to +17% (raised from +11.5% to +12.5%). Adjusted EPS now $6.45–$6.55 (from $6.00–$6.10). Adjusted EBITDA now $1.36B–$1.37B (from $1.29B–$1.30B), implying ~19.5%–20.5% YoY growth. Guidance improvement includes an expected net tariff refund benefit (see below), but management also highlighted stronger underlying performance and confidence in the back half.