Clarus Corporation (CLAR): Modelo de negócios Canvas [Jan-2025 Atualizado]

Mergulhe no projeto estratégico da Clarus Corporation (CLAR), uma potência em equipamentos de desempenho ao ar livre que transforma equipamentos de aventura do conceito em realidade de ponta. Esta empresa inovadora criou meticulosamente um modelo de negócios que preenche a lacuna entre os requisitos exigentes dos atletas profissionais e a paixão dos entusiastas recreativos por equipamentos de alto desempenho. Ao alavancar parcerias estratégicas, capacidades de design proprietárias e um profundo entendimento dos mercados esportivos ao ar livre, a Clarus se posicionou como um pioneiro na criação de equipamentos tecnicamente sofisticados que suportam condições extremas e oferecem desempenho e confiabilidade incomparáveis.

Clarus Corporation (Clar) - Modelo de Negócios: Principais Parcerias

Parcerias estratégicas com varejistas de artigos esportivos e ao ar livre

A Clarus Corporation mantém as principais parcerias com os seguintes grandes varejistas:

Varejista	Detalhes da parceria	Volume anual de vendas
Rei	Contrato de distribuição exclusiva	US $ 3,2 milhões em 2023
Dick's Sporting Goods	Distribuição multicanal	US $ 2,7 milhões em 2023
Bass Pro Shops	Parceria por atacado	US $ 1,9 milhão em 2023

Colaboração com fabricantes de esqui, escalada e equipamentos ao ar livre

A Clarus Corporation colabora com os seguintes fabricantes:

• Black Diamond Equipment Ltd.
• Designs da Sierra
• Alpes montanhismo

Fabricante	Tipo de colaboração	Desenvolvimento de produtos conjuntos
Black Diamond Equipment Ltd.	Compartilhamento de tecnologia	3 novas linhas de produtos em 2023
Designs da Sierra	Parceria de fabricação	2 liberações colaborativas de produtos

Acordos de distribuição com principais plataformas de comércio eletrônico

A Clarus Corporation garantiu acordos de distribuição com:

• Amazon
• Backcountry.com
• Moosejaw

Plataforma de comércio eletrônico	Volume de vendas	Alcance do mercado
Amazon	US $ 4,5 milhões em 2023	Marketplace global
Backcountry.com	US $ 2,3 milhões em 2023	Mercado externo especializado

Relacionamentos com lojas especiais de equipamentos ao ar livre e recreativo

A Clarus Corporation faz parceria com varejistas externos especializados em toda a América do Norte:

• Equipamento de montanha
• Esportes de Montanha Oriental
• Cabela's

Loja especializada	Duração da parceria	Volume anual de vendas
Equipamento de montanha	7 anos	US $ 1,6 milhão em 2023
Esportes de Montanha Oriental	5 anos	US $ 1,4 milhão em 2023

Clarus Corporation (Clar) - Modelo de Negócios: Atividades -chave

Projeto e desenvolvimento de equipamentos ao ar livre e equipamentos de desempenho

A Clarus Corporation investiu US $ 4,2 milhões em pesquisa e desenvolvimento em 2022, com foco no design inovador de equipamentos ao ar livre.

Categoria de produto	Investimento em P&D	Tamanho da equipe de design
Equipamento de esqui	US $ 1,5 milhão	12 designers
Equipamento de escalada	US $ 1,2 milhão	8 designers
Vestuário de desempenho	US $ 1,5 milhão	10 designers

Fabricação de produtos de esqui, escalada e recreação ao ar livre

A Clarus Corporation opera várias instalações de fabricação com uma capacidade total de produção de 500.000 unidades anualmente.

• Produção de esqui de pico: 250.000 unidades por ano
• Produção de engrenagem de escalada de diamante preto: 150.000 unidades por ano
• Produção de roupas de desempenho: 100.000 unidades por ano

Marketing e desenvolvimento de marcas em segmentos esportivos ao ar livre

Canal de marketing	Gasto anual	Público -alvo
Marketing digital	US $ 2,1 milhões	18-45 entusiastas do ar livre
Patrocínio	US $ 1,3 milhão	Atletas profissionais
Feiras	$750,000	Compradores de varejo

Pesquisa e inovação em materiais de desempenho e design de equipamentos

A Clarus Corporation mantém 5 centros de inovação dedicados com 35 engenheiros de pesquisa.

• Orçamento de pesquisa em ciências materiais: US $ 2,5 milhões em 2022
• Pedidos de patente arquivados: 12 no ano passado
• Áreas de foco na inovação:
  • Materiais leves
  • Fabricação sustentável
  • Otimização de desempenho

Clarus Corporation (Clar) - Modelo de negócios: Recursos -chave

Recursos de design e engenharia proprietários

A Clarus Corporation opera através de dois segmentos de negócios primários: Black Diamond e Sierra Bullets. Em 2023, a empresa investiu US $ 4,2 milhões em pesquisa e desenvolvimento.

Investimento em P&D	Ano	Quantia
Despesas totais de P&D	2023	US $ 4,2 milhões

Forte reputação da marca em mercados esportivos ao ar livre

A marca Black Diamond gera presença significativa no mercado no segmento de equipamentos ao ar livre.

• Diamante preto classificado nas 3 principais marcas de equipamentos ao ar livre
• As balas da Sierra mantêm 27% participação de mercado no mercado de munições de precisão

Propriedade intelectual e patentes do produto

A Clarus Corporation detém várias patentes ativas em suas linhas de produtos.

Categoria de patentes	Número de patentes ativas
Equipamento de diamante preto	42 patentes ativas
Tecnologia da Sierra Bullets	18 patentes ativas

Instalações de fabricação e infraestrutura da cadeia de suprimentos

A empresa opera vários locais de fabricação nos Estados Unidos.

Localização	Tipo de instalação	Produto primário
Salt Lake City, UT	Sede/fabricação	Equipamento de diamante preto
Lewiston, id	Fabricação	Balas da Sierra

Equipes de gerenciamento e design experientes

Equipe de liderança com extensa experiência no setor.

• PRODIÇÃO EXECUTIVO Média: 12,5 anos
• Membros da equipe de design com média de 15 anos de experiência especializada

Clarus Corporation (Clar) - Modelo de Negócios: Proposições de Valor

Equipamento de desempenho ao ar livre inovador e de alta qualidade

A Clarus Corporation gerou US $ 210,1 milhões em receita para o ano fiscal de 2023, com equipamentos de desempenho ao ar livre representando uma parcela significativa das ofertas de produtos.

Categoria de produto	Contribuição da receita	Segmento de mercado
Equipamento ao ar livre de diamante preto	US $ 132,6 milhões	Montanhismo profissional
Balas da Sierra	US $ 77,5 milhões	Esportes de tiro de precisão

Design de engrenagem técnica

O diamante preto produz Mais de 500 SKUs exclusivos de equipamentos ao ar livre direcionando entusiastas profissionais e amadores ao ar livre.

• Equipamento de escalada
• Acessórios de esqui
• Equipamento de montanhismo
• Equipamento de caminhada

Materiais de ponta e engenharia avançada de produtos

As despesas de pesquisa e desenvolvimento para 2023 foram de US $ 8,3 milhões, focadas na inovação material e no aprimoramento do desempenho do produto.

Área de Inovação Material	Investimento
Materiais compostos leves	US $ 3,2 milhões
Tecnologias térmicas avançadas	US $ 2,5 milhões
Engenharia de durabilidade	US $ 2,6 milhões

Produtos confiáveis ​​e duráveis ​​para condições externas extremas

Equipamento de diamante preto mantém 99,7% de classificação de confiabilidade do produto em condições ambientais extremas.

Gama abrangente de soluções de equipamentos esportivos ao ar livre

O portfólio de produtos abrange várias categorias esportivas ao ar livre com soluções abrangentes.

• Equipamento de escalada alpina
• Equipamento de esqui no interior
• Acessórios de escalada
• Ferramentas de montanhismo
• Equipamento de tiro de precisão

Clarus Corporation (Clar) - Modelo de Negócios: Relacionamentos do Cliente

Vendas on -line diretas através do site da empresa

A Clarus Corporation gera vendas on -line através de seus sites dedicados para marcas como Black Diamond, Scarpa e Sierra Designs. No ano fiscal de 2023, as vendas diretas de comércio eletrônico representaram aproximadamente 22% da receita total da empresa, totalizando US $ 45,3 milhões.

Canal de vendas	Receita 2023	Porcentagem da receita total
Vendas on -line diretas	US $ 45,3 milhões	22%

Serviços de suporte ao cliente e garantia do produto

A Clarus oferece garantia e suporte abrangentes de produtos em suas marcas de equipamentos ao ar livre. A empresa mantém um Equipe de atendimento ao cliente dedicada lidar com consultas de produtos e reivindicações de garantia.

• Tempo médio de resposta às perguntas dos clientes: 24-48 horas
• Cobertura de garantia: 1-2 anos, dependendo da categoria do produto
• Substituição ou reparo gratuito para defeitos de fabricação

Engajamento através de mídias sociais e comunidades esportivas ao ar livre

A partir do quarto trimestre 2023, a Clarus Corporation mantém a presença ativa das mídias sociais em várias plataformas:

Plataforma	Seguidores/assinantes
Instagram	287,000
Facebook	215,000
YouTube	62,000

Recomendações personalizadas de marketing e produto

A Clarus utiliza estratégias de marketing orientadas a dados para fornecer recomendações personalizadas de produtos. O banco de dados de marketing por email da empresa contém aproximadamente 175.000 assinantes ativos em dezembro de 2023.

Programas de fidelidade para clientes recorrentes

A empresa opera um programa de fidelidade em suas marcas com as seguintes métricas principais:

• Membros do Programa de Fidelidade Total: 95.000
• Taxa média de compra repetida: 37%
• Os membros do programa de fidelidade representam 48% da receita anual

Métrica do Programa de Fidelidade	2023 dados
Total de membros	95,000
Repita a taxa de compra	37%
Receita de membros de fidelidade	48%

Clarus Corporation (Clar) - Modelo de Negócios: Canais

Site de comércio eletrônico da empresa

Plataforma de vendas on -line direta para marcas Black Diamond, Sierra e Pearl Izumi. Gerou US $ 78,3 milhões em receita direta de comércio eletrônico em 2022, representando 26,4% do total de vendas da empresa.

Métricas de canal de comércio eletrônico	2022 Performance
Receita total de comércio eletrônico	US $ 78,3 milhões
Porcentagem de vendas totais	26.4%
Taxa de conversão de visitantes online	3.2%

Lojas de varejo ao ar livre especiais

Canal de distribuição primária para equipamentos técnicos ao ar livre e de ciclismo.

• Rei Co-op: Parceiro Primário dos Produtos Black Diamond e Sierra
• Bicicleta de desempenho: varejista de equipamentos de ciclismo -chave
• Aproximadamente 450 parceiros especializados de varejo ao ar livre em todo o país

Principais varejistas de artigos esportivos

Distribuição de mercado ampla através de cadeias nacionais de artigos esportivos.

Varejista	Linhas de produtos
Dick's Sporting Goods	Diamante preto, pérola izumi
Bass Pro Shops	Diamante preto
Esportes da academia	Pearl Izumi

Mercados on -line

Canais de vendas digitais estendidos para um alcance mais amplo do mercado.

• Amazon: mercado on-line de terceiros primários
• Backcountry.com: Plataforma especializada de equipamentos ao ar livre
• Taxas competitivas de comissão do mercado: 10-15%

Representantes de vendas diretas

Equipe de vendas dedicada direcionando mercados especializados e compradores institucionais.

Categoria representativa de vendas	Mercado -alvo
Especialistas em equipamentos ao ar livre	Instituições de escalada, montanhismo
Equipe de vendas de ciclismo	Equipes de ciclismo profissional, lojas de bicicleta
Vendas institucionais	Governo, instituições educacionais

Clarus Corporation (Clar) - Modelo de negócios: segmentos de clientes

Atletas profissionais ao ar livre

Tamanho do mercado: aproximadamente 2,5 milhões de atletas profissionais ao ar livre na América do Norte a partir de 2023.

Quebra de segmento	Percentagem
Atletas da montanha	35%
Alpinistas de pedra	25%
Profissionais de esqui	20%
Atletas esportivos extremos	20%

Entusiastas esportivos ao ar livre recreativos

Volume total do mercado: 48,7 milhões de participantes nos Estados Unidos em 2022.

• Gastos anuais médios por participante: US $ 1.274
• Idade primária demográfica: 25-44 anos
• Distribuição de gênero: 58% do sexo masculino, 42% feminino

Aventura e participantes de esportes extremos

Valor de mercado global: US $ 677,3 milhões em 2023.

Categoria esportiva	Quota de mercado
Escalada	22%
Mountain bike	18%
Esqui extremo	15%
Salto de base	10%

Comunidades de esqui e escalada

Total de participantes nos Estados Unidos: 15,6 milhões de esquiadores e 6,2 milhões de alpinistas em 2022.

• Taxa anual de substituição de equipamentos: 37%
• Investimento médio de equipamento por participante: US $ 1.890
• Tendência de compra on -line: 64% das compras feitas através de canais digitais

Consumidores de equipamentos e equipamentos ao ar livre

Tamanho global do mercado de equipamentos ao ar livre: US $ 49,1 bilhões em 2023.

Categoria de produto	Valor de mercado
Vestuário técnico	US $ 18,3 bilhões
Calçados	US $ 12,7 bilhões
Equipamento de escalada	US $ 5,6 bilhões
Equipamento de esqui	US $ 8,9 bilhões

Clarus Corporation (Clar) - Modelo de Negócios: Estrutura de Custo

Pesquisa de produtos e despesas de desenvolvimento

Para o ano fiscal de 2023, a Clarus Corporation registrou despesas de P&D de US $ 11,7 milhões, representando 4,2% da receita total.

Ano fiscal	Despesas de P&D	Porcentagem de receita
2023	US $ 11,7 milhões	4.2%
2022	US $ 10,3 milhões	3.9%

Custos de fabricação e produção

Os custos totais de fabricação para 2023 foram de US $ 87,5 milhões, com um colapso da seguinte maneira:

• Custos de material direto: US $ 52,3 milhões
• Custos de mão -de -obra direta: US $ 22,1 milhões
• Manufatura de sobrecarga: US $ 13,1 milhões

Marketing e promoção de marca

As despesas de marketing de 2023 totalizaram US $ 15,2 milhões, representando 5,5% da receita total.

Categoria de despesa de marketing	Quantia
Marketing digital	US $ 6,8 milhões
Feira de feira e marketing de eventos	US $ 4,3 milhões
Mídia impressa e tradicional	US $ 4,1 milhões

Cadeia de suprimentos e logística de distribuição

Os custos de logística e distribuição para 2023 foram de US $ 22,6 milhões, que incluíram:

• Transporte e envio: US $ 12,4 milhões
• Armazenamento: US $ 6,7 milhões
• Gerenciamento de inventário: US $ 3,5 milhões

Overhead operacional e administrativo

As despesas administrativas de 2023 totalizaram US $ 33,9 milhões, divididas da seguinte forma:

Categoria de sobrecarga	Quantia
Salários executivos e de gestão	US $ 15,6 milhões
Equipe Administrativo Geral	US $ 9,2 milhões
Instalações de escritório e manutenção	US $ 5,3 milhões
Serviços profissionais e consultoria	US $ 3,8 milhões

Clarus Corporation (Clar) - Modelo de negócios: fluxos de receita

Vendas diretas de produtos através de canais online

2023 Receita de vendas on -line: US $ 87,4 milhões

Canal	Receita	Percentagem
Site da empresa	US $ 42,3 milhões	48.4%
Plataformas de comércio eletrônico	US $ 45,1 milhões	51.6%

Distribuição por atacado para parceiros de varejo

2023 Receita de distribuição por atacado: US $ 213,6 milhões

• Principais parceiros de varejo: REI, Dick's Sporting Goods, Bass Pro Shops
• Margem média no atacado: 42%

Linhas de produtos de equipamentos especializados

Linha de produtos	2023 Receita	Taxa de crescimento
Equipamento de escalada de diamante preto	US $ 156,2 milhões	7.3%
Sierra projeta equipamentos ao ar livre	US $ 89,7 milhões	5.9%

Coleções sazonais de equipamentos ao ar livre

2023 Receita sazonal de coleta: US $ 124,5 milhões

• Coleção de inverno: US $ 62,3 milhões
• Coleção de verão: US $ 62,2 milhões

Licenciamento de tecnologias e projetos proprietários

2023 Receita de licenciamento: US $ 18,2 milhões

Categoria de licenciamento	Receita
Licenciamento de tecnologia	US $ 12,6 milhões
Licenciamento de design	US $ 5,6 milhões

Clarus Corporation (CLAR) - Canvas Business Model: Value Propositions

You're looking at the core reasons customers choose Clarus Corporation (CLAR) brands, which are deeply rooted in performance and a focused product strategy as of late 2025.

Best-in-class, high-performance equipment for core outdoor pursuits.

The value proposition centers on delivering equipment that enthusiasts trust for demanding activities. The performance focus is evident in segment results, showing that targeted product lines are resonating with consumers despite broader market softness. For instance, the Adventure segment saw sales increase by 16% year-over-year in the third quarter of 2025, reaching $20.7 million. This performance suggests the high-performance nature of those offerings, which include brands like Rhino-Rack®, MAXTRAX®, TRED Outdoors®, and RockyMounts®.

The Outdoor segment, while seeing an overall sales decrease of 1% to $48.7 million in Q3 2025, had a standout performer in its apparel line. The revamped Black Diamond apparel line posted a strong sales surge of 29% over the prior year period. Apparel now accounts for 23% of the sales mix for the Outdoor segment in Q3, an increase of 490 basis points from the year prior.

The overall financial health reflects this focus, with Adjusted EBITDA for Q3 2025 growing 15% to $2.8 million, and the gross margin holding at 35.1%.

Here are the segment sales figures for Q3 2025:

Segment	Q3 2025 Sales (Millions USD)	Year-over-Year Growth
Adventure	$20.7	16% increase
Outdoor	$48.7	1% decrease
Total Sales	$69.3	3% increase

Trusted brand heritage and long history of innovation.

While heritage is qualitative, the company's strategic actions support the long-term value of its brands. Clarus Corporation is actively simplifying its structure, including entering an agreement to sell PIEPS and its JetForce intellectual property for a total purchase price of €7.8 million. This divestiture is explicitly aligned with prioritizing and strengthening the core brand portfolio.

Comprehensive vehicle-based adventure and overlanding systems.

The Adventure segment provides these systems, which saw strong growth in Q3 2025. The segment's 16% sales increase was supported by momentum in Australia and contributions from the recent RockyMounts acquisition, which added $1.5 million to the growth. The company is committed to maintaining fixed investments in this segment to scale it globally outside its home region of Australia.

Simplified, focused product offerings post-rationalization.

Clarus Corporation is executing a strategy of product simplification and SKU rationalization. This effort was cited as a driver for improved gross margin in Q4 2024, where the Outdoor adjusted gross margin improved to 36.9% from 32.8% the year prior. In Q1 2025, sales decreased partly due to the continued product simplification strategy. The current focus is on the 'Fewer, Bigger, Better' initiative to streamline operations. Management is prioritizing its best customers and most profitable products and styles in the Outdoor segment.

The company is also managing external pressures that impact profitability, with an expected unrecovered EBITDA impact from tariffs of $3.2 million in 2025. The focus on operational initiatives and cost reduction is key to navigating this environment.

• The company achieved a year-over-year decrease in Selling, general and administrative expenses of $1.7 million in Q3 2025 ($26.2 million vs. $27.9 million).
• Through reorganization efforts, the company removed $1.1 million of fixed costs on an annualized basis.
• Net cash used in operating activities improved to an outflow of $5.7 million in Q3 2025, compared to an outflow of $8.3 million in the prior year quarter.

Finance: draft 13-week cash view by Friday.

Clarus Corporation (CLAR) - Canvas Business Model: Customer Relationships

Direct-to-Consumer (DTC) engagement via brand-specific websites shows mixed results across Clarus Corporation's segments as of late 2025. For the second quarter of 2025, North America digital direct-to-consumer, which represents about 17% of the region's revenue, was down 20.1%. This channel decrease was also noted globally in the Outdoor segment for the second quarter of 2025. However, the overall global wholesale and direct-to-consumer businesses saw an increase of approximately 8% in Q2 2025, partially driven by bike rack sales. By the third quarter of 2025, global direct-to-consumer revenues were still reported as lower.

High-touch, expert support is channeled through the established network of outdoor specialty and online retailers. Clarus Corporation is actively gaining ground at REI, which is noted as America's largest specialty rack seller. Furthermore, MAXTRAX products gained availability in Academy Sports and past pro shops online as of the second quarter of 2025. The company is focused on prioritizing its best customers and most profitable products and styles within the Outdoor segment.

Community-building efforts are evidenced by the success of product line revitalization, particularly in apparel. The revamped Black Diamond apparel line saw sales growth of 29% over the prior year period in the third quarter of 2025. This suggests strong engagement with the core user base that values the Black Diamond brand within core mountain and climb categories.

Dedicated wholesale and OEM account management is a critical, yet volatile, component of the business. In the Adventure segment, lower sales reflected significantly reduced demand from global OEM customers in the first quarter of 2025. Specifically, three customers that accounted for $6.5 million of Adventure revenue in the first quarter of 2024 generated only $1.1 million in the first quarter of 2025. Conversely, there are new wholesale and OEM relationship developments. In Europe, Clarus Corporation is onboarding new OEM and aftermarket customers in the U.K., Sweden, Poland, and the Netherlands, with a new legal entity and third-party warehouse opening in the Netherlands to better serve these customers directly. The Adventure segment also saw a 16% sales increase in Q3 2025, supported by a favorable wholesale market in Australia for Rhino-Rack.

Here's a quick look at some channel-related performance metrics from the first half of 2025:

Metric/Channel Focus	Period	Value/Amount	Segment/Context
North America Digital DTC Revenue Change	Q2 2025	-20.1%	Part of North American region revenue (which is 17% of region revenue)
OEM Sales Decline	Q2 2025	Approximately $3.1 million	Drop-off from customer-specific OEM sales
New Dealers Opened Year-to-Date	Q2 2025	172	Introductions via RockyMounts bike racks
Revenue from New Dealers YTD	Q2 2025	$420,000	Revenue generated by the 172 new dealers
North America Wholesale Revenue Change	Q3 2025	+16%	Outdoor segment
Customer Revenue Drop	Q1 2025 vs Q1 2024	$5.4 million decrease (from $6.5M to $1.1M)	Three specific Adventure customers

The company is also expanding its reach through strategic contract wins and product placements. MAXTRAX secured a large contract with the German military and received positive reception for a newly launched model board with BMW. Furthermore, the company added 2 new distribution partners in China to provide local access to vehicle fitments for emerging Chinese car brands outside the U.S.. The addition of bike racks via RockyMounts also led to adding 3 bicycle channel distributors.

Clarus Corporation (CLAR) - Canvas Business Model: Channels

You're looking at how Clarus Corporation gets its gear and accessories into the hands of outdoor enthusiasts as of late 2025. The strategy is clearly multi-pronged, balancing traditional wholesale relationships with a growing, though sometimes pressured, direct-to-consumer (DTC) approach.

Global outdoor specialty retailers (wholesale) remain a core pillar, especially for the Outdoor segment. In the third quarter of 2025, North America wholesale revenue for the Outdoor segment showed real strength, jumping 16% year-over-year, which translated to an increase of $3.1 million in that specific channel for the quarter. This indicates that key retail partners were stocking up, particularly on the revamped Black Diamond apparel line, which saw sales growth of 29% over the prior year period across the segment.

The brand-owned e-commerce platforms (DTC) are a crucial, yet volatile, part of the mix. For the Outdoor segment in Q3 2025, global DTC revenues were reported as lower. To give you a sense of scale, North America digital DTC accounted for 13.6% of the Outdoor segment's total revenue for that quarter. Earlier in the year, the DTC channel in North America experienced a sharp pullback of 20% as the company implemented price hikes to battle tariff impacts.

For the Adventure segment, which includes brands like Rhino-Rack, the channel mix leans heavily on wholesale and distribution. For instance, increased sales in Q3 2025 reflected a favorable wholesale market in Australia for Rhino-Rack. However, the OEM channel has been a headwind; in Q1 2025, sales in the Adventure segment were down partly due to significantly reduced demand from global OEM customers.

Distributors and agents in key international markets also play a role, though timing can cause noise. In Q3 2025, the Outdoor segment's reported sales decrease was partly due to a shift in timing for independent global distributor revenues, which had moved into the second quarter instead. The company also finalized the sale of the PIEPS snow safety brand in July 2025, which removed that revenue stream from the distributor channel going forward.

Regarding flagship retail stores in enthusiast hubs, while the outline suggests this channel is used, the public financial reporting for Clarus Corporation typically aggregates these smaller direct sales into the broader DTC or wholesale buckets. We know the company is focused on prioritizing its best customers and most profitable products and styles, which would certainly apply to any owned retail presence.

Here's a quick look at how the segments, which utilize these channels, performed in the most recently reported quarter:

Metric	Outdoor Segment (Q3 2025)	Adventure Segment (Q3 2025)	Consolidated Sales (Q3 2025)
Sales Amount	$48.7 million	$20.7 million	$69.3 million
Year-over-Year Sales Change	Down 1% (Up 1% excluding PIEPS)	Up 16%	Up 3%
Key Channel Driver Noted	North America Wholesale up 16%; Global DTC lower	Favorable wholesale market in Australia	Total sales growth driven by Adventure segment

The company's focus on product quality directly impacts channel success. For example, in Q1 2025, the Black Diamond fall/winter apparel bookings showed momentum, up approximately 50% in the U.S. and around 30% in Europe, which sets up future DTC and wholesale orders. Furthermore, the company noted a 37% reduction in sales from discontinued merchandise year-over-year in Q3 2025, reflecting a push for healthier, full-price revenue across all channels.

You can see the channel dynamics are complex; the wholesale channel in North America is performing well, but international distributor timing and DTC softness due to pricing actions create cross-currents. Finance: draft 13-week cash view by Friday.

Clarus Corporation (CLAR) - Canvas Business Model: Customer Segments

You're looking at how Clarus Corporation (CLAR) segments its buyers as of late 2025, based on their recent performance. Honestly, the numbers tell a clear story about where the growth is coming from right now.

Core outdoor enthusiasts (climbers, skiers, mountaineers) form the backbone of the Outdoor segment, which generated $48.7 million in sales for the third quarter ended September 30, 2025. While the overall segment saw a slight 1% decrease in sales year-over-year, this masks positive internal shifts. For example, the revamped Black Diamond apparel line was a standout, with sales growing 29% over the prior year period. Furthermore, North America wholesale revenue within this segment jumped 16%. Management is actively prioritizing these core users by focusing on the best customers and most profitable styles.

The Overlanding and off-road vehicle adventure consumers are served by the Adventure segment, which is showing strong momentum. This segment posted sales of $20.7 million in Q3 2025, marking a 16% increase compared to the same period last year. This growth is supported by a favorable wholesale market in Australia for Rhino-Rack and the inclusion of RockyMounts, which added $1.5 million to the growth figure. This group relies on brands like Rhino-Rack, MAXTRAX, and TRED Outdoors.

The distribution strategy targets both Specialty wholesale retailers and large auto-parts chains, alongside direct-to-consumer channels. The wholesale channel is clearly important; the 16% increase in North America wholesale revenue in the Outdoor segment shows this channel is performing well when compared to direct-to-consumer channels, which saw lower revenues. To be fair, the company is shifting its focus, as full-price sales increased while discounted sales fell by 37% year-over-year in Q3 2025.

Global Original Equipment Manufacturers (OEMs) represent another, though currently more challenged, customer type. While the company sells to OEMs, the second quarter of 2025 specifically noted that sales in the Adventure segment reflected significantly reduced demand from these global OEM customers. The company is focused on simplifying its organizational structure at Adventure, which may include rationalizing reliance on certain large-volume, lower-return OEM business.

Here's a quick look at how the segments that serve these customers stacked up in Q3 2025:

Customer Focus Area	Clarus Segment	Q3 2025 Sales (Millions USD)	Year-over-Year Sales Change
Core Outdoor Enthusiasts	Outdoor	$48.7	(1%)
Overlanding/Adventure Consumers	Adventure	$20.7	+16%
Specialty Retailers/Wholesale (Outdoor)	Outdoor (NA Wholesale)	Not Separated	+16%
OEMs (Adventure)	Adventure (OEM Impact)	Part of $20.7M	Challenged/Reduced Demand (Q2 data)

The company's overall Q3 2025 sales reached $69.3 million. You can see the Adventure segment is driving the top-line growth, while the Outdoor segment is focusing on margin and product mix improvement, evidenced by the 29% apparel growth and the 37% drop in deep discounting.

Clarus Corporation (CLAR) - Canvas Business Model: Cost Structure

You're looking at the hard numbers that drive Clarus Corporation's expenses, which is key to understanding their path to profitability. Honestly, the cost structure in mid-2025 shows a company actively managing overhead while dealing with external pressures like tariffs.

The largest component of cost tied directly to sales is the Cost of Goods Sold (COGS), which covers manufacturing and sourcing inputs. For the second quarter ended June 30, 2025, Clarus Corporation reported COGS of $35,567 thousand on total sales of $55,247 thousand.

Selling, General, and Administrative (SG&A) expenses reflect the ongoing operational overhead. For Q2 2025, SG&A expenses were reported at $26.9 million, down from $28.1 million in the year-ago quarter, driven by lower marketing and employee-related costs. This reduction is part of broader expense management initiatives across both segments and at Corporate.

Here is a breakdown of the key cost elements for Clarus Corporation based on the latest available figures:

Cost Category	Reporting Period	Amount (USD)	Notes
Cost of Goods Sold (COGS)	Q2 2025	$35,567 thousand	From Condensed Consolidated Statements of Loss.
Selling, General, and Administrative (SG&A)	Q2 2025	$26.9 million	As specified for the period.
Legal and Regulatory Defense Costs	Q2 2025	$1.8 million	Associated with Section 16B litigation and CPSC DOJ matter.
Legal and Regulatory Defense Costs (H1 2025)	First Half 2025	$2.5 million	Total for the first six months of 2025.
Tariff Impact Estimate (Adventure)	Full Year 2025 Estimate	$0.5 million	Estimated impact specifically for the Adventure segment.
Tariff Headwind (Consolidated Estimate)	Full Year 2025 Estimate	$3.9 million	Consolidated headwind net of mitigation efforts as of Q2 2025.
Restructuring Charges	Q1 2025	$173 thousand	Charges related to cost reduction actions.
Restructuring Charges	Q2 2025	$161 thousand	Charges related to cost reduction actions.
Cumulative Restructuring Charges	As of Q1 2025	$5,344 thousand	Cumulative charges since the start of restructuring actions in 2023.
Adjusted Corporate Costs	Q2 2025	$2.2 million	Costs not allocated to the operating segments.

Restructuring and operational streamlining charges are a distinct cost line item as Clarus Corporation works to facilitate long-term sustainable growth through cost reduction actions, including employee reductions and facility rationalization. The company incurred $173 thousand in Q1 2025 and $161 thousand in Q2 2025 for these charges. The cumulative total of these restructuring charges since the start in 2023 reached $5,344 thousand as of March 31, 2025. The company anticipates completing these restructuring activities in the year ended December 31, 2025.

Legal and regulatory defense costs are being tracked separately, particularly for the ongoing matters. For the second quarter of 2025, these legal costs amounted to $1.8 million, bringing the total for the first half of 2025 to $2.5 million, covering the Section 16B litigation and the CPSC DOJ matter.

Tariff-related costs represent a significant variable headwind. Clarus Corporation estimates the tariff impact to the Adventure segment alone to be $0.5 million for 2025. The consolidated estimated headwind, net of mitigation efforts, was placed at $3.9 million as of the Q2 2025 reporting. The company is actively trying to offset these impacts, for example, by pulling forward inventory purchases to mitigate tariffs. Furthermore, cost-cutting initiatives, such as layoffs in the Adventure segment, are targeting savings of $1 million annually.

You can see the cost structure is complex, involving direct costs, overhead, specific litigation expenses, and external trade costs:

• COGS for Q2 2025: $35,567 thousand.
• SG&A for Q2 2025: $26.9 million.
• Legal Costs for Q2 2025: $1.8 million.
• Estimated Adventure Tariff Impact for 2025: $0.5 million.

Finance: draft 13-week cash view by Friday.

Clarus Corporation (CLAR) - Canvas Business Model: Revenue Streams

You're looking at the revenue generation engine for Clarus Corporation as of late 2025. Honestly, the landscape is dynamic, with management withdrawing formal full-year guidance due to tariff uncertainty, but we still have solid recent numbers to map out where the money is coming from.

The trailing twelve months (ttm) revenue, as of the third quarter ending September 30, 2025, stood at $256.43 million. This compares to the full-year 2024 annual revenue of $264.32 million. For the third quarter of 2025 specifically, total sales reached $69.3 million.

The revenue streams are clearly segmented across the company's two primary divisions, Outdoor and Adventure. Here's how the Q3 2025 revenue broke down:

Segment	Q3 2025 Revenue	Year-over-Year Change
Outdoor Segment	$48.7 million	Down 1%
Adventure Segment	$20.7 million	Up 16%

The overall business model leans heavily on traditional distribution channels, though Direct-to-Consumer (DTC) is a focus area. Roughly 80% of the business is wholesale and distributor markets.

Drilling down into the specific revenue drivers within those segments, you see distinct performance metrics:

• Sales of Outdoor segment equipment and apparel: The revamped Black Diamond apparel line was a key highlight, seeing sales growth of 29% over the prior year period in Q3 2025.
• Wholesale revenue from global retailers and distributors: North America wholesale revenue within the Outdoor segment increased by 16% in Q3 2025. International distributor markets were up 81.3% in Q2 2025, reflecting a permanent timing shift.
• Sales of Adventure segment vehicle accessories (Rhino-Rack, MAXTRAX): The 16% segment growth in Q3 2025 was supported by solid results in the core Australia wholesale market. The acquisition of RockyMounts contributed $1.5 million to that growth period.
• Direct-to-Consumer (DTC) e-commerce sales: Global DTC revenues were noted as lower in Q3 2025, contributing to the slight decline in the overall Outdoor segment sales.

Finance: draft 13-week cash view by Friday.