Q3 2025 SharkNinja Inc Earnings Call

November 6, 2025

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Operator: My name is Brika, and I will be your moderator for today. All lines will be muted during the presentation portion of the call, with an opportunity for questions and answers at the end. If you would like to ask a question during this time, please press star followed by the 1 on your telephone keypad. To remove your request, please press star followed by the 2, and for operator assistance at any point, please press star then the 0. Thank you. I would now like to pass the conference over to your host, James Lamb, Senior Vice President of Investor Relations and Treasury. Thank you. You may proceed, James.

All lines will be muted during the presentation portion of the call with an opportunity for questions and answers at the end.

If you would like to ask a question. During this time. Please press star followed by the number one on your telephone keypad.

To remove your request. Please press star followed by the number two and for operator assistance at any point. Please press Star then the number that right. Thank you.

I would now like to pass the conference over to your host James <unk> Senior Vice President of Investor Relations and Treasury. Thank you you May proceed James.

Good morning, and welcome to Shark mentioned third quarter 2025 earnings Conference call.

James Lamb: Good morning, and welcome to SharkNinja's Q3 2025 Earnings Conference Call. Earlier today, we issued our Q3 earnings release, which is available on the company's website at ir.sharkninja.com. A replay of today's webcast will also be available on the site shortly after the call. Before we begin, let me remind you that today's discussion will include forward-looking statements based on our current perspective of the business environment. These statements involve risks and uncertainties, and actual results may differ materially. For more details, please refer to our earnings release and the company's most recent SEC filings, which outline factors that could impact these statements. The company assumes no obligation to update or revise forward-looking statements in the future. During the call, we will reference non-GAAP financial measures, which we believe provide valuable insight into the underlying growth trends of our business.

Earlier today, we issued our Q3 earnings release, which is available on the company's website at IR Dot shark Ninja Dot com.

A replay of today's webcast will also be available on the site shortly after the call.

Before we begin let me remind you that today's discussion will include forward looking statements based on our current perspective of the business environment.

These statements involve risks and uncertainties and actual results may differ materially.

For more details please refer to our earnings release and the company's most recent SEC filings, which outline factors that could impact these statements.

The company assumes no obligation to update or revise forward looking statements in the future.

Additionally, during the call we will reference non-GAAP financial measures, which we believe provide valuable insight into the underlying growth trends of our business.

You can find a full reconciliation of these measures to their most directly comparable GAAP measures in the earnings release.

James Lamb: You can find a full reconciliation of these measures to their most directly comparable GAAP measures in the earnings release. Joining me today are our Chief Executive Officer, Mark Barrocas, and Chief Financial Officer, Adam Quigley. Mark will start by providing a business update, followed by Adam, who will review our Q3 financial results and share our outlook for 2025. Mark will offer some closing remarks before we open the call to questions. During the Q&A session, please limit yourself to one question and one follow-up. I would now like to turn the call over to Mark.

Joining me today are our Chief Executive Officer, Mark <unk>, and Chief Financial Officer, Adam quickly.

Mark will start by providing a business update followed by Adam who will review, our Q3 financial results and share our outlook for 2025.

Mark will then offer some closing remarks before we open the call to questions <unk>.

During the Q&A session. Please limit yourself to one question and one follow up.

I would now like to turn the call over to Mark.

Operator: Name is Brika, and I will be your moderator for today. All lines will be muted during the presentation portion of the call, with an opportunity for questions and answers at the end. If you would like to ask a question during this time, please press star followed by the number one on your telephone keypad. To remove your request, please press star followed by the number two. For operator assistance at any point, please press star then the number zero. Thank you. I would now like to pass the conference over to your host, James Lamb, Senior Vice President of Investor Relations and Treasury. Thank you. You may proceed, James.

Thank you James Good morning, everyone and thank you for joining us today.

Earlier today, we issued our Q3 earnings release, which is available on the company's website at IR Dot shark Ninja dotcom.

Mark Barrocas: Thank you, James Lamb. Good morning, everyone, thank you for joining us today. During a year of massive upheaval across our ecosystem, supply chain disruptions, consumer uncertainty, industry headwinds, and other challenges, SharkNinja has continued to triumph. At our core, we're a company of problem solvers. We thrive on tackling problems head on to deliver innovative and groundbreaking solutions time and time again. As 2025 has unfolded, the monumental series of challenges has gotten the better of many companies. I believe SharkNinja, on the other hand, is a true outlier. We've steadily and meaningfully taken market share across categories and geographies. We've continued delivering disruptive innovation at breakneck speed, we've done it all with best-in-class profitability and impressive execution. In short, SharkNinja has been exemplary. The Q3 is a testament to all these factors with outstanding results across the board.

During a year of massive upheaval across our ecosystem supply chain disruptions consumer uncertainty industry headwinds and other challenges shark Ninja has continued to try them.

A replay of today's webcast will also be available on the site shortly after the call.

Before we begin let me remind you that today's discussion will include forward looking statements based on our current perspective of the business environment.

At our core we're a company of problem solvers, we thrive on tackling problems head on to deliver innovative and groundbreaking solutions time and time again as 2025 has unfolded. The monumental series of challenges has gotten the better of many companies I believe shark Ninja on the other half.

These statements involve risks and uncertainties and actual results may differ materially.

For more details please refer to our earnings release and the company's most recent SEC filings, which outline factors that could impact these statements.

James Lamb: Good morning and welcome to SharkNinja's third quarter 2025 earnings conference call. Earlier today, we issued our Q3 earnings release, which is available on the company's website at ir.sharkninja.com. A replay of today's webcast will also be available on the site shortly after the call. Before we begin, let me remind you that today's discussion will include forward-looking statements based on our current perspective of the business environment. These statements involve risks and uncertainties, and actual results may differ materially. For more details, please refer to our earnings release and the company's most recent SEC filings, which outline factors that could impact these statements. The company assumes no obligation to update or revise forward-looking statements in the future. Additionally, during the call, we will reference non-GAAP financial measures, which we believe provide valuable insight into the underlying growth trends of our business.

<unk> is a true outlier, we've steadily and meaningfully taking market share across categories and geographies.

The company assumes no obligation to update or revise forward looking statements in the future.

We've continued delivering disruptive innovation at breakneck speed and we've done it all with best in class profitability and impressive execution in short shark Ninja has been exemplary with.

Additionally, during the call we will reference non-GAAP financial measures, which we believe provide valuable insight into the underlying growth trends of our business.

You can find a full reconciliation of these measures to their most directly comparable GAAP measures in the earnings release.

Third quarter is a testament to all these factors with outstanding results across the board net sales grew over 14% year over year, our 10th quarter in a row of double digit top line growth all of which is organic adjusted gross margins expanded more than 90 basis points year.

Joining me today are our Chief Executive Officer, Mark <unk>, and Chief Financial Officer, Adam quickly.

Mark Barrocas: Net sales grew over 14% year-over-year, our 10th quarter in a row of double-digit top-line growth, all of which is organic. Adjusted gross margins expanded more than 90 basis points year-over-year to surpass 50%, and Adjusted EBITDA grew nearly 21% year-over-year. We also delivered our Q2 in a row of leverage of adjusted operating expense as a percentage of net sales. These are truly outstanding numbers, and one might ask just how we're able to deliver them. I think they are the byproduct of two essential aspects of our culture, two things that drive everything we do. Our mission of positively impacting people's lives every day in every home around the world, and the existential need to be the absolute best at whatever we do, not just like everyone else, but the best.

Mark will start by providing a business update followed by Adam who will review, our Q3 financial results and share our outlook for 2025.

Over year to surpass 50%.

Mark will then offer some closing remarks before we open the call to questions during the Q&A.

And adjusted EBITDA grew nearly 21% year over year. We also delivered our second quarter in a row of leverage of adjusted operating expense as a percentage of net sales.

<unk> session. Please limit yourself to one question and one follow up.

I'd now like to turn the call over to Mark.

These are truly outstanding numbers and one might ask just how we're able to deliver them I think they are the byproduct of two essential aspects of our culture two things that drive everything we do our mission of positively impacting People's lives every day in every home around the world and the <unk>.

Thank you James Good morning, everyone and thank you for joining us today.

James Lamb: You can find a full reconciliation of these measures to their most directly comparable GAAP measures in the earnings release. Joining me today are our Chief Executive Officer, Mark Barrocas, and Chief Financial Officer, Adam Quigley. Mark will start by providing a business update, followed by Adam, who will review our Q3 financial results and share our outlook for 2025. Mark will then offer some closing remarks before we open the call to questions. During the Q&A session, please limit yourself to one question and one follow-up. I would now like to turn the call over to Mark.

During a year of massive upheaval across our ecosystem supply chain disruptions consumer uncertainty industry headwinds and other challenges shark Ninja has continued to try them.

<unk> needs to be the absolute best at whatever we do not just like everyone else, but the best our performance this quarter and for the last 17 years proves that this is a winning formula.

Mark Barrocas: Our performance this quarter and for the last 17 years proves that this is a winning formula. Let's deep dive into sales, where SharkNinja continues to materially outpace the competition. Our point of sale trends in Q3 demonstrate enviable momentum over a broad base of products and categories. While our data indicates the total US market that we participate in declined slightly year-over-year, excluding SharkNinja's performance, our own POS grew in the low double digits. The outperformance expanded in the last 4 weeks exiting the quarter, with our POS reaching mid-teens growth as the market weakened further, again excluding SharkNinja. We're also seeing tremendous success internationally, where net sales growth in Q3 accelerated to almost 26% year-over-year, compared to just over 20% year-over-year in Q2. Our top-line strength reflects expanding relationships with consumers and retailers.

Let's deep dive into sales, where shark Ninja continues to materially outpaced the competition our point of sale trends in Q3 demonstrate enviable momentum over a broad base of products and categories. While our data indicates the total U S market that we participate in declined slightly year over year.

<unk> is a true outlier, we've steadily and meaningfully taking market share across categories and geographies. We've continued delivering disruptive innovation at breakneck speed and we've done it all with best in class profitability and impressive execution in short shark Ninja has been exemplary.

Mark Barrocas: Thank you, James. Good morning, everyone, and thank you for joining us today. During a year of massive upheaval across our ecosystem, supply chain disruptions, consumer uncertainty, industry headwinds, and other challenges, SharkNinja has continued to triumph. At our core, we're a company of problem solvers. We thrive on tackling problems head-on to deliver innovative and groundbreaking solutions time and time again. As 2025 has unfolded, the monumental series of challenges has gotten the better of many companies. I believe SharkNinja, on the other hand, is a true outlier. We've steadily and meaningfully taken market share across categories and geographies. We've continued delivering disruptive innovation at breakneck speed, and we've done it all with best-in-class profitability and impressive execution. In short, SharkNinja has been exemplary. The third quarter is a testament to all these factors, with outstanding results across the board.

Year, excluding shark Ninja performance, our own Pos grew in the low double digits.

The third quarter is a testament to all of these factors without standing results across the board net sales grew over 14% year over year, our 10th quarter in a row of double digit topline growth.

The outperformance expanded in the last four weeks exiting the quarter with our Pos reaching mid teens growth as the market weakened further again, excluding shark Ninja.

All of which is organic adjusted gross margins expanded more than 90 basis points year over year to surpass 50%.

We're also seeing tremendous success internationally, where net sales growth in Q3 accelerated to almost 26% year over year compared to just over 20% year over year in the second quarter or.

And adjusted EBITDA grew nearly 21% year over year.

We also delivered our second quarter in a row of leverage of adjusted operating expense as a percentage of net sales.

Our topline strength reflects expanding relationships with consumers and retailers recent innovative product launches are generating exceptional consumer engagement across reviews, social media and elsewhere.

These are truly outstanding numbers and one might ask just how we're able to deliver them.

Mark Barrocas: Recent innovative product launches are generating exceptional consumer engagement across reviews, social media, and elsewhere. The trusted relationship that SharkNinja has earned with consumers remains our priority. I believe it's why we've maintained our pace of innovation despite a difficult environment. It's why we keep a maniacal focus on consumer satisfaction, and it's why we continue to expand the places consumers can shop for our products. These elements help ensure SharkNinja is driving extraordinary value to the consumer. I believe as we earn more trust, we build lifetime value and brand loyalty. This advantage means that as we enter new categories, consumers are all ears about what's new with Shark and Ninja. On the retailer side, our global relationship status continues to strengthen. The commercial team and I spent time during Q3 with the top leaders at our largest and most important partners across the globe.

I think they are the byproduct of chew essential aspects of our culture, two things that drive everything we do our mission of positively impacting People's lives every day in every home around the world and the existential need to be the absolute best at whatever we do not just like everyone else, but the bed.

The trusted relationship with Shark Ninja has earned with consumers remains our priority I believe it's why we have maintained our pace of innovation. Despite a difficult environment. It's why we keep a maniacal focus on consumer satisfaction and it's why we continue to expand the places consumers can shop for our products.

Mark Barrocas: Net sales grew over 14% year-over-year, our 10th quarter in a row of double-digit top-line growth, all of which is organic. Adjusted gross margins expanded more than 90 basis points year-over-year to surpass 50%. Adjusted EBITDA grew nearly 21% year-over-year. We also delivered our second quarter in a row of leverage of adjusted operating expense as a percentage of net sales. These are truly outstanding numbers, and one might ask just how we're able to deliver them. I think they're the byproduct of two essential aspects of our culture, two things that drive everything we do: our mission of positively impacting people's lives every day, in every home around the world, and the existential need to be the absolute best at whatever we do, not just like everyone else, but the best. Our performance this quarter and for the last 17 years proves that this is a winning formula.

First our performance this quarter and for the last 17 years proves that this is a winning formula.

These elements help ensure shark ninja is driving extraordinary value to the consumer I believe as we earn more trust, we build lifetime value and brand loyalty.

This advantage means that as we enter new categories consumers are all years about what's new with shark and Ninja.

On the retailer side, our global relationship status continues to strengthen the commercial team and I spent time during Q3 with the top leaders at our largest and most important partners across the globe the.

Over year, excluding shark Ninja performance.

Our own Pos grew in the low double digits.

The feedback was incredibly encouraging and remarkably consistent.

The outperformance expanded in the last four weeks exiting the quarter with our Pos reaching mid teens growth as the market weakened further again, excluding shark Ninja.

Mark Barrocas: The feedback was incredibly encouraging and remarkably consistent. SharkNinja is a brand unlike anyone else in our marketplace. Fast-moving, uniquely innovative, and steadfastly committed to marketing and demand generation. I think this is a rare combination of attributes for any company, but exceptionally so given the extreme difficulties so many have faced in 2025. Our differentiation has earned us an important seat at the table. You're seeing this already in the lead up to holiday 2025 with meaningful traction in orders. Even with some shipments moving out of Q3 into Q4 as we anticipated, September was a record month for SharkNinja. As we head through the remainder of the year and into 2026, we could not be more excited about SharkNinja's position with our wholesale partners. This enthusiasm extends to our direct-to-consumer business as well.

<unk> is a brand unlike anyone else in our marketplace.

<unk> moving uniquely innovative and steadfastly committed to marketing and demand generation I think this is a rare combination of attributes for any company, but exceptionally so given the extreme difficulties. So many have faced in 2025.

We're also seeing tremendous success internationally, where net sales growth in Q3 accelerated to almost 26% year over year compared to just over 20% year over year in the second quarter.

Mark Barrocas: Let's deep dive into sales, where SharkNinja continues to materially outpace the competition. Our point-of-sale trends in Q3 demonstrate enviable momentum over a broad base of products and categories. While our data indicates the total US market that we participate in declined slightly year-over-year, excluding SharkNinja's performance, our own POS grew in the low double digits. The outperformance expanded in the last four weeks exiting the quarter, with our POS reaching mid-teens growth as the market weakened further, again excluding SharkNinja. We're also seeing tremendous success internationally, where net sales growth in Q3 accelerated to almost 26% year-over-year, compared to just over 20% year-over-year in the second quarter. Our top-line strength reflects expanding relationships with consumers and retailers. Recent innovative product launches are generating exceptional consumer engagement across reviews, social media, and elsewhere. The trusted relationship that SharkNinja has earned with consumers remains our priority.

Our differentiation has earned US an important seat at the table Youre seeing this already in the lead up to holiday 2025 with meaningful traction in orders, even with some shipments moving out of Q3 into Q4 as we anticipated September was a record month for shark Ninja as.

The trusted relationship with Shark Ninja has earned with consumers remains our priority I believe it's why we've maintained our pace of innovation. Despite a difficult environment. It's why we keep a maniacal focus on consumer satisfaction and it's why we continue to expand the places consumers can shop for our products.

As we head through the remainder of the year and into 2026, we could not be more excited about sharpening just position with our wholesale partners.

This enthusiasm extends to our direct to consumer business as well in.

In October we launched a completely redesigned shark ninja dot com consolidating three outdated domains into one streamlined destination.

These elements help insurers shark Ninja is driving extraordinary value to the consumer I believe as we earn more trust, we build lifetime value and brand loyalty.

Mark Barrocas: In October, we launched a completely redesigned sharkninja.com, consolidating three outdated domains into one streamlined destination. Our new platform is a massive upgrade. It should enable us to engage the consumer in powerful new ways and provide a more seamless e-commerce experience. Now, we can instantly showcase the value of SharkNinja as the innovation powerhouse behind two multi-billion-dollar brands. Over time, we believe this can be an important driver of traffic, conversion, and cross-selling activity. We're also partnering with major retailers to enhance the SharkNinja experience on their online properties through new creative, enhanced imagery, and by leveraging some of our celebrity ambassador content. We will continue to roll out modernized DTC sites across Latin America and EMEA in the first half of 2026, with the goal of learning and optimizing as we get into the second half.

Our new platform is a massive upgrade it should enable us to engage the consumer in powerful new ways and provide a more seamless e-commerce experience now.

<unk> advantage means that as we enter new categories consumers are all years about what's new with shark and Ninja.

Now we can instantly showcase the value of shark Ninja as the innovation powerhouse behind two multibillion dollar brands over time, we believe this can be an important driver of traffic conversion and cross selling activity. We're also partnering with major retailers to enhance the shark Ninja experience.

Mark Barrocas: I believe it's why we've maintained our pace of innovation despite a difficult environment. It's why we keep a maniacal focus on consumer satisfaction, and it's why we continue to expand the places consumers can shop for our products. These elements help ensure SharkNinja is driving extraordinary value to the consumer. I believe as we earn more trust, we build lifetime value and brand loyalty. This advantage means that as we enter new categories, consumers are all ears about what's new with SharkNinja. On the retailer side, our global relationship status continues to strengthen. The commercial team and I spent time during Q3 with the top leaders at our largest and most important partners across the globe. The feedback was incredibly encouraging and remarkably consistent. SharkNinja is a brand unlike anyone else in our marketplace: fast-moving, uniquely innovative, and steadfastly committed to marketing and demand generation.

The feedback was incredibly encouraging and remarkably consistent.

<unk> is a brand unlike anyone else in our marketplace.

On their online properties through new creative enhanced imagery and by leveraging some of our celebrity Ambassador content. We will continue to rollout modernized DTC sites across Latin America and EMEA in the first half of 2026 with the goal of learning and optimizing as we get in.

The second half.

Making great products is one thing, but creating widespread viral demand for them is another shark Ninja employs a very sophisticated approach of doing this in multiple ways leveraging global brand ambassadors micro ambassadors influencers and experiential events at the top of the pyramid.

Mark Barrocas: Making great products is one thing, but creating widespread viral demand for them is another. SharkNinja employs a very sophisticated approach of doing this in multiple ways, leveraging global brand ambassadors, micro ambassadors, influencers, and experiential events. At the top of the pyramid, our roster of global brand ambassadors continues to expand with two tremendous new additions to highlight. We are thrilled to welcome comic sensation Kevin Hart and NFL icon Tom Brady to the SharkNinja family. Kevin and Tom each bring their own unique and authentic connection to fans and audiences worldwide. I encourage you to watch the first installment of Kevin and David Beckham, a longtime global brand ambassador, as neighbors in a new digital series we're creating. Be sure to check out the new Tom Brady Roast featuring him using our new Ninja CRISPi PRO air fryer.

As we head through the remainder of the year and into 2026, we could not be more excited about sharpening just position with our wholesale partners.

Our roster of global brand ambassadors continues to expand with two tremendous new additions to highlight we are thrilled to welcome comics sensation, Kevin Hart and NFL icon, Tom Brady to the Shark Ninja family.

This enthusiasm extends to our direct to consumer business as well in.

Mark Barrocas: I think this is a rare combination of attributes for any company, but exceptionally so given the extreme difficulties so many have faced in 2025. Our differentiation has earned us an important seat at the table. You're seeing this already in the lead-up to holiday 2025, with meaningful traction in orders. Even with some shipments moving out of Q3 into Q4, as we anticipated, September was a record month for SharkNinja. As we head through the remainder of the year and into 2026, we could not be more excited about SharkNinja's position with our wholesale partners. This enthusiasm extends to our direct-to-consumer business as well. In October, we launched a completely redesigned sharkninja.com, consolidating three outdated domains into one streamlined destination. Our new platform is a massive upgrade. It should enable us to engage the consumer in powerful new ways, and provide a more seamless e-commerce experience.

In October we launched a completely redesigned shark ninja dot com consolidating three outdated domains into one streamlined destination.

Kevin and Tom each bring their own unique and authentic connection to fans and audiences worldwide.

Our new platform is a massive upgrade it should enable us to engage the consumer in powerful new ways and provide a more seamless E. Commerce experience now we can instantly showcase the value of shark Ninja as the innovation powerhouse behind two multibillion dollar brands over time.

I encourage you to watch the first installment of Kevin and David Beckham, Our long time Global brand Ambassador as neighbors in a new digital series, we're creating.

And be sure to check out the new Tom Brady roast featuring him using our new Ninja Christy Pro Air Fryer, we have a lot more exciting content to debut in the coming months from our celebrity partners. So stay tuned.

<unk>. We believe this can be an important driver of traffic conversion and cross selling activity.

Mark Barrocas: We have a lot more exciting content to debut in the coming months from our celebrity partners. Stay tuned. We're also rapidly expanding our influencer network globally, driving more localized content across key markets in Latin America, Europe, and the Middle East. We now have SharkNinja content creators in these markets developing content every single day. The considerable scope of expertise that we're building should be durable and not easily replicable by others. We believe our investments into effective localized content can strengthen our social media marketing advantage worldwide. The same playbook that we've developed successfully in North America is now coming to the rest of the world. This evolution is another proof point of SharkNinja continuing to evolve into a true global business. I will now turn to our three-pillar growth strategy, starting with our first growth pillar, expanding into new and adjacent categories.

We're also partnering with major retailers to enhance the shark Ninja experience on their online properties through new creative enhanced imagery and by leveraging some of our celebrity Ambassador content. We will continue to rollout modernized DTC sites across Latin America, and EMEA in the first half of 2010.

We're also rapidly expanding our influencer network globally, driving more localized contents across key markets in Latin America, Europe, and the Middle East, We now have shark Ninja content creators in these markets developing content every single day.

The considerable scope of expertise that we're building should be durable and not easily replicable by others.

<unk> six with the goal of learning and optimizing as we get into the second half.

We believe our investments into effective localized content constraints and our social media marketing advantage worldwide.

Mark Barrocas: Now we can instantly showcase the value of SharkNinja as the innovation powerhouse behind two multi-billion-dollar brands. Over time, we believe this can be an important driver of traffic, conversion, and cross-selling activity. We're also partnering with major retailers to enhance the SharkNinja experience on their online properties through new creative, enhanced imagery, and by leveraging some of our celebrity ambassador content. We will continue to roll out modernized DTC sites across Latin America and EMEA in the first half of 2026, with the goal of learning and optimizing as we get into the second half. Making great products is one thing, but creating widespread viral demand for them is another. SharkNinja employs a very sophisticated approach of doing this in multiple ways, leveraging global brand ambassadors, micro-ambassadors, influencers, and experiential events.

The same playbook that we've developed successfully in North America is now coming to the rest of the world.

This evolution is another proof point of shark Ninja continuing to evolve into a true global business I.

I will now turn to our three pillar growth strategy, starting with our first growth pillar expanding into new and adjacent categories. We're now officially in 38 subcategories.

Mark Barrocas: We're now officially in 38 subcategories with the Q3 launch of Ninja Fireside360, our revolutionary outdoor heater and fire pit combination. This product exemplifies how we utilize consumer insights to solve problems with innovation. Fireside360 combines the benefits of traditional heaters and fire pits while eliminating common drawbacks like poor heat distribution and cleanup hassles. The initial consumer response has been excellent, and we're excited to expand further into the outdoor lifestyle space. Turning to beauty. We've delivered significant new product momentum during the second half of 2025. Shark Glam epitomizes our engineering-first approach to solving real consumer problems. It's the first multi-styler that combines ceramic heat and powerful airflow to deliver salon quality results for even the most challenging hair types.

Kevin and Tom each bring their own unique and authentic connection to fans and audiences worldwide.

With the Q3 launch of Ninja Fireside 360, our revolutionary outdoor heater and fire pit combination.

I encourage you to watch the first installment of Kevin and David Beckham, our longtime global brand ambassador as neighbors and our new digital series, we're creating <unk>.

This product exemplifies how we utilize consumer insights to solve problems with innovation.

<unk> hundred 60 combines the benefits of traditional heaters and fire pits, while eliminating common drawbacks like poor heat distribution and cleanup households. The initial consumer response has been excellent and were excited to expand further into the outdoor lifestyle space.

Sure to check out the new Tom Brady roast featuring him using our new Ninja Christy Pro Air Fryer, we have a lot more exciting content to debut in the coming months from our celebrity partners. So stay tuned.

Mark Barrocas: At the top of the pyramid, our roster of global brand ambassadors continues to expand, with two tremendous new additions to highlight. We are thrilled to welcome comic sensation Kevin Hart and NFL icon Tom Brady to the SharkNinja family. Kevin and Tom each bring their own unique and authentic connection to fans and audiences worldwide. I encourage you to watch the first installment of Kevin and David Beckham, a longtime global brand ambassador, as neighbors in a new digital series we're creating. Be sure to check out the new Tom Brady roast featuring him using our new Ninja Crispy Pro air fryer. We have a lot more exciting content to debut in the coming months from our celebrity partners, so stay tuned. We're also rapidly expanding our influencer network globally, driving more localized content across key markets in Latin America, Europe, and the Middle East.

Turning to beauty.

We've delivered significant new product momentum during the second half of 2025 short Guam Epitomize, our engineering first approach to solving real consumer problems. It's the first multi styler that combined ceramic key and powerful airflow to deliver salon quality results for even the most.

The considerable scope of expertise that we're building should be durable and not easily replicable by others. We.

Challenging here types, the shark lossy leverages, the same breakthrough technology, and a versatile brush product appealing to a broader consumer base at a more accessible price points.

We believe our investments into effective localized content constraints and our social media marketing advantage worldwide.

Mark Barrocas: The Shark Glossie leverages the same breakthrough technology in a versatile brush product, appealing to a broader consumer base at a more accessible price point. Together, these launches showcase our ability to evolve individual products into comprehensive franchises with haircare as the latest example. We now offer a vast ecosystem of products across multiple use cases and price points, reinforcing our position as an innovation leader transforming the beauty space. Earlier this year in the US, we entered the skincare market with the Shark CryoGlow. In under 12 months, Shark CryoGlow is the number one skincare facial device in the US, and Shark Beauty is the number one skincare facial devices brand in the US, both according to Circana. Acting quickly on the heels of this runaway success, we've just launched our next revolutionary innovation in skincare, the Shark FacialPro Glow with DePuffi.

The same playbook that we've developed successfully in North America is now coming to the rest of the world.

Together these launches showcase our ability to evolve individual products into comprehensive franchises with hair care is the latest example, we now offer a vast ecosystem of products across multiple use cases and price points reinforcing our position as an innovation leader Trans.

This evolution is another proof point of shark Ninja continuing to evolve into a true global business I.

I will now turn to our three pillar growth strategy, starting with our first growth pillar expanding into new and adjacent categories. We're now officially 38 subcategories.

Mark Barrocas: We now have SharkNinja content creators in these markets developing content every single day. The considerable scope of expertise that we're building should be durable and not easily replicable by others. We believe our investments into effective localized content can strengthen our social media marketing advantage worldwide. The same playbook that we've developed successfully in North America is now coming to the rest of the world. This evolution is another proof point of SharkNinja continuing to evolve into a true global business. I will now turn to our three-pillar growth strategy, starting with our first growth pillar, expanding into new and adjacent categories. We're now officially in 38 subcategories with the Q3 launch of Ninja Fireside 360, our revolutionary outdoor heater and fire pit combination. This product exemplifies how we utilize consumer insights to solve problems with innovation.

Forming the beauty space.

Earlier this year in the U S. We entered the skincare market with a sharp <unk> in under 12 months Sharp Cryo Globe is the number one skincare facial device in the U S and short beauty is the number one skincare faithful devices brand in the U S. Both according to <unk>.

With the Q3 launch of Ninja Fireside 360, our revolutionary outdoor heater and fire pit combination.

This product exemplifies how we utilize consumer insights to solve problems with innovation.

Fireside $3 60 combines the benefits of traditional heaters and fire pits, while eliminating common drawbacks like poor heat distribution and cleanup hassles. The initial consumer response has been excellent and were excited to expand further into the outdoor lifestyle space turned.

Our Cana.

Acting quickly on the heels of this runaway success, we've just launched our next revolutionary innovation in skin care, the shark facial pro Glo with the Puffy, we anticipate this hydro fueled device will redefine the at home facial experience to deliver spa level results in 10.

Mark Barrocas: We anticipate this hydro fuel device will redefine the at-home facial experience to deliver spa-level results in 10 minutes, combining cleansing, moisturizing, and depuffing technology. Shark FacialPro Glow has been an enormous success so far, with 25,000 people on the wait list and a complete sellout of Amazon in 3 hours. Our ambition is to be the runaway leader in beauty technology, and we believe cutting-edge products like the Shark CryoGlow and Shark FacialPro Glow pave the way for that success. Taking a step back, what other company launches products as wide-ranging as an outdoor heater fire pit combo and a facial extracting and sculpting device in a single quarter? This is the magic of SharkNinja. We relentlessly pursue the next great breakthroughs across an infinite number of consumer problems to solve. We remain fully committed to delivering on our 2025 innovation roadmap with 25 new products as promised.

To beauty.

That's combining.

Combining cleansing moisturizing and the pumping technology.

Facial pro Glo has been an enormous success, so far with 25000 people on the waitlist and a complete sellout of Amazon and three hours.

Our ambition is to be the runaway leader in beauty technology, and we believe cutting edge products like the shark cryo glow in sharp facial pro glow paved the way for that success.

Challenging here types, the shark lossy leverages, the same breakthrough technology, and a versatile brush product appealing to a broader consumer base at a more accessible price point.

Mark Barrocas: Fireside 360 combines the benefits of traditional heaters and fire pits while eliminating common drawbacks like poor heat distribution and cleanup hassles. The initial consumer response has been excellent, and we're excited to expand further into the outdoor lifestyle space. Turning to beauty, we've delivered significant new product momentum during the second half of 2025. SharkLamb epitomizes our engineering-first approach to solving real consumer problems. It's the first multi-styler that combines ceramic heat and powerful airflow to deliver salon-quality results for even the most challenging hair types. The Shark Glossy leverages the same breakthrough technology in a versatile brush product, appealing to a broader consumer base at a more accessible price point. Together, these launches showcase our ability to evolve individual products into comprehensive franchises, with hair care as the latest example.

Taking a step back.

Together these launches showcase our ability to evolve individual products into comprehensive franchises with hair care as the latest example, we now offer a vast ecosystem of products across multiple use cases and price points reinforcing our position as an innovation leader Trans.

What other company launches products as wide ranging as an outdoor heater firepit combo, and a facial extracting and sculpting device in a single quarter. This is the magic of shark Ninja, we relentlessly pursue the next great breakthroughs across an infinite number of consumer problems.

Forming the beauty space.

To solve we remain fully committed to delivering on our 2025 innovation roadmap with 25, new products as promised this was a tall task considering all the supply disruptions earlier this year, but we believe we enter next year with meaningful momentum as new products ramp and our exciting too.

Earlier this year in the U S. We entered the skincare market with the sharp Cryoglobulin in under 12 months short Cryo Globe is the number one skincare facial device in the U S and sharp beauty is the number one skincare faithful devices brand in the U S. Both according to <unk>.

Mark Barrocas: This is a tall task considering all the supply disruptions earlier this year. We believe we enter next year with meaningful momentum as new products ramp and our exciting 2026 launches roll out. Now let's turn to our second growth pillar, growing share in existing categories. I mentioned earlier how profoundly we outperformed the market we served in Q3. The same pattern has been evident all year. Year-to-date, our internal data supports clear market share gains across all four of our category groupings: cleaning, cooking, food preparation, and beauty and home environment. The cleaning business was a particular standout in Q3 with growth across all subcategories. Our robotics division continues to gain traction while our extraction products also perform well.

<unk> thousand 26 launches rollout.

Cana.

And quickly on the heels of this runaway success, we've just launched our next revolutionary innovation in skin care, the shark facial pro Glo with the policy. We anticipate this hydro fueled device will redefine the at home facial experience to deliver spa level results in 10.

Mark Barrocas: We now offer a vast ecosystem of products across multiple use cases and price points, reinforcing our position as an innovation leader transforming the beauty space. Earlier this year in the US, we entered the skincare market with the Shark Cryo Glow. In under 12 months, Shark Cryo Glow is the number one skincare facial device in the US, and Shark Beauty is the number one skincare facial devices brand in the US, both according to Circana. Acting quickly on the heels of this runaway success, we've just launched our next revolutionary innovation in skincare, the Shark Facial Pro Glow with Deep Puffy. We anticipate this hydrofueled device will redefine the at-home facial experience to deliver spa-level results in 10 minutes, combining cleansing, moisturizing, and depuffing technology.

Year to date, our internal data supports clear market share gains across all four of our category groupings cleaning cooking food preparation and beauty and home environment.

Minutes combining.

Combining cleansing moisturizing and the pumping technology.

The cleaning business was a particular standout in Q3 with growth across all sub categories. Our robotics division continues to gain traction while our extraction products also performed well extraction represents a great example of one of the hallmarks of shark Ninja the drive to deliver them.

Initial pro Glo has been an enormous success so far with 25000 people on the wait list in a complete sellout of Amazon and three hours.

Our ambition is to be the runaway leader in beauty technology, and we believe cutting edge products like the shark cryo glow in sharp facial proglio paved the way for that success.

Mark Barrocas: Extraction represents a great example of one of the hallmarks of SharkNinja, the drive to deliver demonstrably superior product than what we believe the market is currently offering. As Shark grew into a powerhouse within the vacuum and floor care markets, retailers asked us for years to enter extraction. We resisted at first because initially it wasn't clear how we could solve the consumer's problems in a better, more innovative way. We kept at it and introduced our Shark Stain Striker platform to great success. In just a few years, we've gone from 0% share to a meaningful position in the extraction market. In Q3, we took another leap forward with the introduction of the Shark Stain Force. This revolutionary cordless stain elimination system addresses what we call Stainxiety, the stress consumers feel when faced with tough stains or spill emergencies.

Monster believe superior product than what we believe the market is currently offering.

Taking a step back.

What other company launches products as wide ranging as an outdoor heater firepit combo, and a facial extracting and sculpting device in a single quarter.

As shark grew into a powerhouse within the vacuum and floor care markets retailers asked us for years to enter extraction. We resisted at first because initially it wasn't clear how we could solve the consumers problems and a better more innovative way we kept at it and introduced our sharp stained stryker platform.

This is the magic of shark Ninja, we relentlessly pursue the next great breakthroughs across an infinite number of consumer problems to solve we remain fully committed to delivering on our 2025 innovation roadmap with 25, new products as promised this is a tall task considering all the supply.

Mark Barrocas: Facial Pro Glow has been an enormous success so far, with 25,000 people on the waitlist and a complete sellout on Amazon in three hours. Our ambition is to be the runaway leader in beauty technology, and we believe cutting-edge products like the Shark Cryo Glow and Shark Facial Pro Glow pave the way for that success. Taking a step back, what other company launches products as wide-ranging as an outdoor heater/fire pit combo and a facial extracting and sculpting device in a single quarter? This is the magic of SharkNinja. We relentlessly pursue the next great breakthroughs across an infinite number of consumer problems to solve. We remain fully committed to delivering on our 2025 innovation roadmap, with 25 new products as promised. This is a tall task considering all the supply disruptions earlier this year.

Great success in just a few years, we've gone from zero percent share to a meaningful position in the extraction market.

In Q3, we took another leap forward with the introduction of the shark stained force.

Disruptions earlier this year.

But we believe we enter next year with meaningful momentum as new products ramp and our exciting 2026 launches rollout.

This revolutionary cordless sustained elimination system addresses what we call stained xiety.

The stress consumers feel when faced with tough stains or spill emergencies.

Now, let's turn to our second growth pillar growing share in existing categories. I mentioned earlier, how profoundly we outperformed the market. We served in Q3 and the same pattern has been evident all year year to date, our internal data supports clear market share gains across all four of our cats.

The product became a viral sensation on social media with plenty of user generated content.

Mark Barrocas: The product became a viral sensation on social media with plenty of user-generated content. Best of all, authentic consumer enthusiasm is translating directly into strong sales performance, reinforcing the power of our consumer-centric product development approach. Another social media standout is the Ninja BlendBOSS, our first ever tumbler blender that's redefining portable wellness with an ultra powerful motor and a 100% leak-proof design. The innovative on-the-go solution demonstrates the potency of our integrated marketing approach. The launch post went viral. We've seen millions of impressions across TikTok, Instagram, YouTube, and Facebook, driving exceptionally strong sales in the first few weeks. I think Ninja BlendBOSS is breathing new life into a category that's been dormant. Similar to what we spoke about last quarter with fans. It represents another step in our expansion beyond traditional kitchen appliances to meet consumers' active lifestyles.

Best of all authentic consumer enthusiasm is translating directly into strong sales performance reinforcing the power of our consumer centric product development approach.

Laurie groupings cleaning cooking food preparation and beauty and home environment.

Another social media standout is the ninja blend boss, our first ever Tumblr Blender, that's redefining portable wellness with an ultra powerful motor and a 100% leak proof design.

Mark Barrocas: We believe we enter next year with meaningful momentum as new products ramp and our exciting 2026 launches roll out. Now let's turn to our second growth pillar, growing share in existing categories. I mentioned earlier how profoundly we outperformed the market we served in Q3, and the same pattern has been evident all year. Year to date, our internal data supports clear market share gains across all four of our category groupings: cleaning, cooking, food preparation, and beauty and home environment. The cleaning business was a particular standout in Q3, with growth across all subcategories. Our robotics division continues to gain traction, while our extraction products also perform well. Extraction represents a great example of one of the hallmarks of SharkNinja, the drive to deliver demonstrably superior products than what we believe the market is currently offering.

The innovative on the go solution demonstrates the potency of our integrated marketing approach and the launch post went viral we've seen millions of impressions across Tictoc, Instagram Youtube and Facebook driving exceptionally strong sales in the first few weeks I think means you blend bosses breathing new life.

<unk> superior product than what we believe the market is currently offering.

This into a category thats been dormant.

<unk> to what we spoke about last quarter with fans and it represents another step in our expansion beyond traditional kitchen appliances to meet consumers' active lifestyles. This kind of organic consumer engagement reflects the genuine excitement our innovations generate in the marketplace.

To great success.

Mark Barrocas: This kind of organic consumer engagement reflects the genuine excitement our innovations generate in the marketplace. Lastly, I wanna highlight the Ninja CRISPi PRO launch that further extends our leadership in the glass system air fryer category. Ninja CRISPi PRO represents the latest building block in our next generation air frying franchise with expanded XL capacity and enhanced functionality. We have additional breakthrough CRISPi products coming in 2026 that I believe will keep one of our largest categories refreshed and vibrant for consumers. A common thread unites all three of the products I just highlighted. They represent disruptive innovation within some of our core existing businesses. The Shark StainForce delivers the best stain fighting in the category with no cords and no setup. The Ninja BlendBOSS completely rethinks the way the consumer can utilize a single-serve blending platform as a fashionable, unique, and on-the-go product.

Just a few years, we've gone from zero percent share to a meaningful position in the extraction market.

Lastly, I want to highlight the Ninja Crispy pro launch that further extends our leadership in the glass system Air Fryer category.

In Q3, we took another leap forward with the introduction of the Sharks stained force. This revolutionary cordless stain elimination system addresses what we call stained xiety the.

Ninja Crispy pro represents our latest building block in our next generation Air frying franchise with expanded XL capacity and enhanced functionality, we have additional breakthrough crispy products coming in 2026 that I believe will keep one of our largest categories for fresh and vibrant for consumer.

The stress consumers feel when faced with tough stains or spill emergencies.

Mark Barrocas: As Shark grew into a powerhouse within the vacuum and floor care markets, retailers asked us for years to enter extraction. We resisted at first because initially it was not clear how we could solve the consumer's problems in a better, more innovative way. We kept at it and introduced our Shark Stain Striker platform to great success. In just a few years, we have gone from 0% share to a meaningful position in the extraction market. In Q3, we took another leap forward with the introduction of the Shark Stain Force. This revolutionary cordless stain elimination system addresses what we call stainsiety, the stress consumers feel when faced with tough stains or spill emergencies. The product became a viral sensation on social media, with plenty of user-generated content. Best of all, authentic consumer enthusiasm is translating directly into strong sales performance, reinforcing the power of our consumer-centric product development approach.

The product became a viral sensation on social media with plenty of user generated content.

Best of all authentic consumer enthusiasm is translating directly into strong sales performance reinforcing the power of our consumer centric product development approach.

A common thread unites all three of the products I've just highlighted they represent disruptive innovation within some of our core existing businesses. The sharp stained forced delivers the best stain fighting in the category with no cords and no setup the ninja blend boss completely rethink the way the consumer.

Another social media standout is the ninja blend boss, our first ever Tumblr, Blender Thats redefining portable wellness with an ultra powerful motor and a 100% leak proof design.

Can utilize a single serve blending platform as a fashionable unique and on the go products. The Ninja crispy meaningfully expands our kinds of meals are revolutionary glass system Air Fryer can handle in each case, we believe we are delivering compelling newness to help accelerate that.

Mark Barrocas: The Ninja CRISPi meaningfully expands the kinds of meals our revolutionary glass system air fryer can handle. In each case, we believe we're delivering compelling newness to help accelerate the replacement cycle across these core franchises. I think innovating within the base is the key to a healthy and thriving set of existing categories. It's a vital component of our growth algorithm, and we focus on it constantly. Our third growth pillar, international expansion, delivers exceptional results in Q3. I'm particularly excited about our UK business, which saw a dramatic re-acceleration to 27% year-over-year net sales growth compared to roughly 6% in the prior quarter. Our diversified portfolio of products in the UK is resonating with consumers in both new and existing categories.

Placement cycle across these core franchises I think innovating within the base is the key to a healthy and thriving set of existing categories. It's a vital component of our growth algorithm and we focus on it constantly.

This into a category thats been dormant.

Mark Barrocas: Another social media standout is the Ninja Blend Boss, our first-ever tumbler blender that's redefining portable wellness with an ultra-powerful motor and 100% leak-proof design. The innovative on-the-go solution demonstrates the potency of our integrated marketing approach, and the launch post went viral. We've seen millions of impressions across TikTok, Instagram, YouTube, and Facebook, driving exceptionally strong sales in the first few weeks. I think Ninja Blend Boss is breathing new life into a category that's been dormant, similar to what we spoke about last quarter with fans, and it represents another step in our expansion beyond traditional kitchen appliances to meet consumers' active lifestyles. This kind of organic consumer engagement reflects the genuine excitement our innovations generate in the marketplace. Lastly, I want to highlight the Ninja Crispy Pro launch that further extends our leadership in the glass system air fryer category.

Our third growth pillar international expansion delivers exceptional results in Q3.

I am, particularly excited about our UK business, which saw a dramatic reacceleration to 27% year over year net sales growth compared to roughly 6% in the prior quarter.

Lastly, I want to highlight the Ninja Crispy pro launch that further extends our leadership in the glass system Air Fryer category.

Our diversified portfolio of products in the UK is resonating with consumers in both new and existing categories be air Fryer headwind. We've observed throughout 2025 in the U K has started to diminish offset by strength across the espresso beauty fans floor care.

Ninja Crispy pro represents our latest building block in our next generation Air frying franchise with expanded XL capacity and enhanced functionality, we have additional breakthrough crispy products coming in 2026 that I believe will key point of our largest categories for fresh and vibrant for consumer.

Mark Barrocas: The air fryer headwind we've observed throughout 2025 in the UK has started to diminish, offset by strength across espresso, beauty, fans, floor care, robotics, frozen treats, and more. Mexico continues to perform exceptionally well, and we believe we're building significant momentum heading into 2026. Our business is firing on all cylinders. Consumer demand is outstanding, with extraordinary point-of-sale metrics since the transition to a direct model. Retailers are responding in kind by expanding the number of categories they buy from SharkNinja. This flywheel is supported by the dedicated resources we have deployed across sales, marketing, and operations. Our success in Mexico is creating a halo effect across other Latin America markets. Our investments in Spanish language media are paying off in multiple countries, driving strong consumer engagement and stellar POS trends. In Q3, we experienced broad-based triple-digit growth in Latin America overall.

<unk> robotics frozen treats and more <unk>.

Mexico continues to perform exceptionally well and we believe we are building significant momentum heading into 2026, our business is firing on all cylinders consumer demand is outstanding with extraordinary point of sale metrics since the transition to a direct model retailers are.

Can utilize a single serve blending platform as a fashionable unique and on the go products. The Ninja crispy meaningfully expands the kinds of meals are revolutionary glass system Air Fryer can handle in each case, we believe we are delivering compelling newness to help accelerate that.

Mark Barrocas: Ninja Crispy Pro represents the latest building block in our next-generation air frying franchise with expanded XL capacity and enhanced functionality. We have additional breakthrough crispy products coming in 2026 that I believe will keep one of our largest categories refreshed and vibrant for consumers. A common thread unites all three of the products I just highlighted. They represent disruptive innovation within some of our core existing businesses. The Shark Stain Force delivers the best stain fighting in the category with no cords and no setup. The Ninja Blend Boss completely rethinks the way the consumer can utilize a single-serve blending platform as a fashionable, unique, and on-the-go product. The Ninja Crispy meaningfully expands the kinds of meals our revolutionary glass system air fryer can handle. In each case, we believe we're delivering compelling newness to help accelerate the replacement cycle across these core franchises.

Responding in kind by expanding the number of categories. They buy from shark Ninja. This flywheel is supported by the dedicated resources, we have deployed across sales marketing and operations our.

Our success in Mexico is creating a halo effect across other Latin American markets, our investments in Spanish language media are paying off in multiple countries driving strong consumer engagement and stellar Pos trends in Q3, we experienced broad based triple digit growth in Latin America overall.

Our third growth pillar international expansion delivers exceptional results in Q3.

These trends drive confidence in our expectations for a robust holiday forecast across the region.

Mark Barrocas: These trends drive confidence in our expectations for a robust holiday forecast across the region. Moving to EMEA, we continue to strengthen and build out our business in Germany and France. These are large definable markets where SharkNinja still has significant market share opportunity. Recent meetings with our key retail partners reinforced their excitement to expand shelf placements across more categories throughout Europe. I believe the power of our three-pillar growth strategy cannot be overstated. This balanced approach across new categories, existing category share gains, and international expansion has enabled us to deliver 10 consecutive quarters of double-digit growth. Our diversification across products, distribution channels, and geographies should only fortify our position as we move forward. While many view SharkNinja as a product and marketing company, we're fundamentally a company intently focused on execution and delivering results consistently across all areas of our business.

I am, particularly excited about our UK business, which saw a dramatic re acceleration to 27% year over year net sales growth compared to roughly 6% in the prior quarter.

Moving to EMEA, we continue to strengthen and build out our business in Germany and France. These are large definable markets. We're sharpening just still have significant market share opportunity.

Recent meetings with our key retail partners reinforced their excitement to expand shelf placements across more categories throughout Europe.

Our diversified portfolio of products in the U K is resonating with consumers in both new and existing categories. The air Fryer headwind we've observed throughout 2025 in the U K has started to diminish offset by strength across the espresso beauty fans floor care.

I believe the power of our three pillar growth strategy cannot be overstated. This balanced approach across new categories existing category share gains and international expansion has enabled us to deliver 10 consecutive quarters of double digit growth.

Mark Barrocas: I think innovating within the base is the key to a healthy and thriving set of existing categories. It's a vital component of our growth algorithm, and we focus on it constantly. Our third growth pillar, international expansion, delivers exceptional results in Q3. I'm particularly excited about our UK business, which saw a dramatic re-acceleration to 27% year-over-year net sales growth compared to roughly 6% in the prior quarter. Our diversified portfolio of products in the UK is resonating with consumers in both new and existing categories. The air fryer headwind we've observed throughout 2025 in the UK has started to diminish, offset by strength across espresso, beauty, fans, floor care, robotics, frozen treats, and more. Mexico continues to perform exceptionally well, and we believe we're building significant momentum heading into 2026. Our business is firing on all cylinders.

<unk> robotics frozen treats and more <unk>.

Our diversification across products distribution channels, and geography should only fortify our position as we move forward. While many of you shark Ninja as a product and marketing company. We're fundamentally a company intently focused on execution and delivering results consistently across all areas of our biz.

Responding in kind by expanding the number of categories. They buy from shark Ninja. This flywheel is supported by the dedicated resources, we have deployed across sales marketing and operations. Our success in Mexico was creating a halo effect across other Latin American markets, our investments in Spanish language media.

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Given our strong performance and expectations for Q4, we're excited to raise our full year guidance range is once again, while narrowing them as we enter the final quarter, we're particularly enthusiastic about the holiday season, where our innovative product portfolio and strong retailer relationships have historically positioned us well.

Mark Barrocas: Given our strong performance and expectations for Q4, we're excited to raise our full year guidance ranges once again while narrowing them as we enter the final quarter. We're particularly enthusiastic about the holiday season, where our innovative product portfolio and strong retailer relationships have historically positioned us well. To wrap up, I'm incredibly proud about how we've navigated 2025 during a prolonged period of turbulence around us. We have performed admirably across the dimensions we prioritize, extraordinary sales growth with contributions across geographies, gross margin expansion despite significant tariff headwinds, and leverage on operating expense without sacrificing on innovation, marketing, or reinvestment in the business. I think this performance in such a challenging environment demonstrates how resilient and unique SharkNinja is. It's also a testament to the talented group of leaders who have relentlessly worked to drive such strong performance.

<unk> are paying off in multiple countries driving strong consumer engagement and stellar Pos trends in Q3, we experienced broad based triple digit growth in Latin America overall, these trends drive confidence in our expectations for a robust holiday forecast across the region.

To wrap up I'm incredibly proud about how we've navigated 2025 during a prolonged period of turbulence around us we have performed admirably across the dimensions, we prioritize extraordinary sales growth with contributions across geographies gross margin expansion. Despite.

Mark Barrocas: Consumer demand is outstanding, with extraordinary point-of-sale metrics since the transition to a direct model. Retailers are responding in kind by expanding the number of categories they buy from SharkNinja. This flywheel is supported by the dedicated resources we have deployed across sales, marketing, and operations. Our success in Mexico is creating a halo effect across other Latin America markets. Our investments in Spanish-language media are paying off in multiple countries, driving strong consumer engagement and stellar POS trends. In Q3, we experienced broad-based triple-digit growth in Latin America overall. These trends drive confidence in our expectations for a robust holiday forecast across the region. Moving to EMEA, we continue to strengthen and build out our business in Germany and France. These are large, definable markets where SharkNinja still has significant market share opportunity.

Moving to EMEA, we continue to strengthen and build out our business in Germany and France.

Significant tariff headwinds and leverage on operating expense without sacrificing on innovation marketing or reinvestment in the business I think this performance in such a challenging environment demonstrates how resilient and unique shark Ninja is.

These are large definable markets. We're sharpening just still have significant market share opportunity recent meetings with our key retail partners reinforced their excitement to expand shelf placements across more categories throughout Europe.

It's also a testament to the talented group of leaders, who are relentlessly work to drive such strong performance.

<unk> like these don't just happen without coordinated excellence across supply chain operations commercial product development customer service and more the breadth of our execution is a critical factor in the success of shark Ninja.

Mark Barrocas: Results like these don't just happen without coordinated excellence across supply chain operations, commercial, product development, customer service, and more. The breadth of our execution is a critical factor in the success of SharkNinja, from new joiners up to our most tenured executives. I'd like to formally welcome the newest member of this executive leadership team, Adam Quigley. Adam and I have worked together for more than a decade, and I've witnessed firsthand his exceptional financial acumen and strategic thinking ability. He succeeded throughout his SharkNinja tenure from a manager role when we were under $1.5 billion in revenue to our SVP of Global Planning and Analysis. His responsibilities have spanned some of the most complex challenges: the sale of the business in 2017, listing on the Hong Kong Stock Exchange in 2019, navigating through the COVID-19 pandemic, and architecting our tariff mitigation strategy, among others.

Our diversification across products distribution channels and geographies should only fortify our position as we move forward, while many of you shark Ninja as a product and marketing company.

New joiners up to our most tenured executives.

And I'd like to formally welcome the newest member of this executive leadership team Adam quickly.

Fundamentally accompany intently focused on execution and delivering results consistently across all areas of our business given our strong performance and expectations for Q4, we're excited to raise our full year guidance ranges once again, while narrowing them as we enter the final quarter, where.

Mark Barrocas: Recent meetings with our key retail partners reinforced their excitement to expand shelf placements across more categories throughout Europe. I believe the power of our three-pillar growth strategy cannot be overstated. This balanced approach across new categories, existing category share gains, and international expansion has enabled us to deliver 10 consecutive quarters of double-digit growth. Our diversification across products, distribution channels, and geographies should only fortify our position as we move forward. While many view SharkNinja as a product and marketing company, we're fundamentally a company intently focused on execution and delivering results consistently across all areas of our business. Given our strong performance and expectations for Q4, we're excited to raise our full-year guidance ranges once again while narrowing them as we enter the final quarter. We're particularly enthusiastic about the holiday season, where our innovative product portfolio and strong retailer relationships have historically positioned us well.

Adam and I have worked together for more than a decade and I've witnessed firsthand his exceptional financial acumen and strategic thinking ability. He succeeded throughout his shark Ninja tenure from a manager role when we were under $1 $5 billion in revenue to our SVP of global planning and analysis.

<unk> enthusiastic about the holiday season, where our innovative product portfolio and strong retailer relationships have historically positioned us well.

Responsibilities spanned some of the most complex challenges the sale of the business in 2017 listing on the Hong Kong exchange in 2019 navigating through the COVID-19, pandemic and Architected, our tariff mitigation strategy among others.

To wrap up I'm incredibly proud about how we've navigated 2025 during a prolonged period of turbulence around us.

We have performed admirably across the dimensions, we prioritize extraordinary sales growth with contributions across geographies gross margin expansion, despite significant tariff headwinds and leverage on operating expense without sacrificing on innovation marketing or reinvestment in the business.

I believe at a deep understanding of our business model and proven track record make him the ideal leader for our finance organization. During this exciting growth phase I'm thrilled to announce our board of directors has officially confirmed him to be sharp <unk>, New Chief Financial Officer, and now Adam will walk you.

Mark Barrocas: I believe Adam's deep understanding of our business model and proven track record make him the ideal leader for our finance organization during this exciting growth phase. I'm thrilled to announce our board of directors has officially confirmed him to be SharkNinja's new Chief Financial Officer. Now Adam will walk you through our Q3 financial updated and 2025 outlook.

I think this performance in such a challenging environment demonstrates how resilient and unique shark Ninja is.

Through our third quarter financial updated and 2025 outlook.

It's also a testament to the talented group of leaders, who are relentlessly work to drive such strong performance.

Thank you Mark for the kind introduction and good morning, everyone I am honored to step into the CFO role and join you on the earnings call.

Adam Quigley: Thank you, Mark, for the kind introduction. Good morning, everyone. I am honored to step into the CFO role and join you on the earnings call. I approach this opportunity the same way I have every step of my journey at SharkNinja over the last 11 years. Relentlessly focused on enabling the business to thrive while working side by side with Mark and the rest of the executive team. My vision is to continue building our finance function as a strategic partner that helps propel SharkNinja's continued growth and success. With that, let's review the quarter that yielded record earnings per share for our investors. Net sales in Q3 increased 14.3% year-over-year to $1.63 billion. Looking at our performance by geography, domestic net sales increased 9.5% year-over-year to just over $1.1 billion.

Mark Barrocas: To wrap up, I'm incredibly proud about how we've navigated 2025 during a prolonged period of turbulence around us. We have performed admirably across the dimensions we prioritized: extraordinary sales growth with contributions across geographies, gross margin expansion despite significant tariff headwinds, and leverage on operating expense without sacrificing on innovation, marketing, or reinvestment in the business. I think this performance in such a challenging environment demonstrates how resilient and unique SharkNinja is. It's also a testament to the talented group of leaders who have relentlessly worked to drive such strong performance. Results like these don't just happen without coordinated excellence across supply chain, operations, commercial, product development, customer service, and more. The breadth of our execution is a critical factor in the success of SharkNinja, from new joiners up to our most tenured executives.

<unk> like these don't just happen without coordinated excellence across supply chain operation commercial product development customer service and more the breadth of our execution is a critical factor in the success of shark Ninja from new joiners up to our most tenured executives.

I approached this opportunity the same way at every step of my journey at Shark Ninja over the last 11 years relentlessly focus on enabling the business to thrive while working side by side with Mark and the rest of the executive team.

My vision is to continue building, our finance function as a strategic partner that helps propel shock. They just continued growth and success with that let's review the quarter that yielded record earnings per share for our investors.

And I'd like to formally welcome the newest member of this executive leadership team Adam quickly.

Net sales in Q3 increased 14, 3% year over year to $1 $63 billion.

Looking at our performance by geography, domestic net sales increased nine 5% year over year to just over $1 1 billion.

International net sales were $530 million up 25, 8% year over year as reported and 21, 6% in constant currency.

Adam Quigley: International net sales were $530 million, up 25.8% year-over-year as reported, and 21.6% in constant currency. As Mark mentioned earlier, our UK net sales were incredibly strong in Q3, up 26.7% year-over-year to $237 million. Mexico was also a standout performer in the quarter while growth in our EMEIA business outside of the UK moderated slightly. Overall, these excellent results drive confidence in our expectation that international net sales growth will accelerate in the second half of 2025 compared to the first half. Looking at performance by category, net sales in the cleaning category increased 12.4% year-over-year to $593 million.

As Mark mentioned earlier, our UK net sales were incredibly strong in the third quarter up 26, 7% year over year to $237 million, Mexico was also a standout performer in the quarter while growth in our EMEA business outside of the UK moderated slightly.

Mark Barrocas: I'd like to formally welcome the newest member of this executive leadership team, Adam Quigley. Adam and I have worked together for more than a decade, and I've witnessed firsthand his exceptional financial acumen and strategic thinking ability. He succeeded throughout his SharkNinja tenure from a manager role when we were under $1.5 billion in revenue to our SVP of global planning and analysis. His responsibilities have spanned some of the most complex challenges: the sale of the business in 2017, listing on the Hong Kong Exchange in 2019, navigating through the COVID-19 pandemic, and architecting our tariff mitigation strategy, among others. I believe Adam's deep understanding of our business model and proven track record make him the ideal leader for our finance organization during this exciting growth phase. I'm thrilled to announce our board of directors has officially confirmed him to be SharkNinja's new Chief Financial Officer.

Overall these excellent results drive confidence in our expectation that international net sales growth will accelerate in the second half of 2025 compared to the first half.

Looking at performance by category net sales in the cleaning category increased 12, 4% year over year to $593 million.

Through our third quarter financial updated and 2025 outlook.

Thank you Mark for the kind introduction and good morning, everyone I am honored to step into the CFO role and join you on the earnings call.

Robotics extraction and corded up rates all contributed to this success and we gained considerable market share in the category.

Adam Quigley: Robotics, extraction, and corded uprights all contributed to this success. We gained considerable market share in the category. Net sales in the cooking and beverage category returned to growth, increasing 6.3% year-over-year to $437 million. Trends here are similar to last quarter with the Ninja Luxe Café Espresso Strength offsetting difficult compares in other subcategories such as air fryers outside the US. Net sales in the food preparation category increased 11.9% year-over-year to $411 million. The Ninja SLUSHi continues to be a global sensation with availability now across our largest global markets. Finally, our beauty and home environment category increased 56.7% year-over-year to $189 million. We experienced broad-based growth across fans, air purifiers, hair care, and skincare in the quarter.

I approach this opportunity the same way at every step of my journey at Shark Ninja over the last 11 years relentlessly focused on enabling the business to thrive while working side by side with Mark and the rest of the executive team.

Net sales in cooking and beverage category returned to growth, increasing six 3% year over year to $437 million.

Trends here is similar to last quarter within engine Lux cafes, Presto strength offsetting difficult compares in other subcategories, such as air Fryers outside the U S.

My vision is to continue building, our finance function as a strategic partner that helps propel sharp. They just continued growth and success with that let's review the quarter that yielded record earnings per share for our investors.

Net sales in the food preparation category increased 11, 9% year over year to $411 million and then just lastly continues to be a global sensation with availability now across our largest global markets.

Net sales in Q3 increased 14, 3% year over year to $1 $63 billion.

Mark Barrocas: Adam will walk you through our third-quarter financial update and 2025 outlook. Thank you, Mark, for the kind introduction, and good morning, everyone. I'm honored to step into the CFO role and join you on the earnings call. I approached this opportunity the same way I have every step of my journey at SharkNinja over the last 11 years, relentlessly focused on enabling the business to thrive while working side by side with Mark and the rest of the executive team. My vision is to continue building our finance function as a strategic partner that helps propel SharkNinja's continued growth and success. With that, let's review the quarter that yielded record earnings per share for our investors. Net sales in Q3 increased 14.3% year-over-year to $1.63 billion. Looking at our performance by geography, domestic net sales increased 9.5% year-over-year to just over $1.1 billion.

Looking at our performance by geography, domestic net sales increased nine 5% year over year to just over $1 1 billion.

Finally, our beauty and home environment category increased 56, 7% year over year to $189 million <unk>.

International net sales were $530 million up 25, 8% year over year as reported and 21, 6% in constant currency.

We experienced broad based growth across fans air purifiers hair care and skincare in the quarter.

Now, let's move to gross profit, where we were able to offset higher tariff costs with our relentless focus on profitability.

As Mark mentioned earlier, our UK net sales were incredibly strong in the third quarter up 26, 7% year over year to $237 million.

Adam Quigley: Now let's move to gross profit, where we were able to offset higher tariff costs with our relentless focus on profitability. It's worth noting that the two-year sourcing services agreement with JS Global ended as planned on 31 July of this year. In Q3, GAAP gross profit increased 17.6% year-over-year to $818 million, or 50.1% of net sales. This represents a record high for GAAP gross margin since our US listing and a significant milestone for SharkNinja above the 50% threshold this quarter. Adjusted gross profit increased 16.4% year-over-year to $820 million, or 50.3% of net sales. Adjusted gross margin increased approximately 90 basis points year-over-year with multiple elements of our mitigation strategy offsetting a notable headwind from tariffs.

Worth, noting that the two year sourcing services agreement with J S level ended as planned on July 31 of this year.

Mexico was also a standout performer in the quarter, while growth in our EMEA business outside of the UK moderated slightly.

In the third quarter GAAP gross profit increased 17, 6% year over year to $818 million or 51% of net sales.

Overall these excellent results drive confidence in our expectation that international net sales growth will accelerate in the second half of 2025 compared to the first half.

This represents a record high for GAAP gross margin in our U S listing at a significant milestone for sharp above the 50% threshold this quarter.

Looking at performance by category net sales in the cleaning category increased 12, 4% year over year to $593 million.

Mark Barrocas: International net sales were $530 million, up 25.8% year-over-year, as reported, and 21.6% in constant currency. As Mark mentioned earlier, our UK net sales were incredibly strong in the third quarter, up 26.7% year-over-year to $237 million. Mexico was also a standout performer in the quarter, while growth in our EMEA business outside of the UK moderated slightly. Overall, these excellent results drive confidence in our expectation that international net sales growth will accelerate in the second half of 2025 compared to the first half. Looking at performance by category, net sales in the cleaning category increased 12.4% year-over-year to $593 million. Robotics, extraction, and corded uprights all contributed to this success, and we gained considerable market share in the category. Net sales in the cooking and beverage category returned to growth, increasing 6.3% year-over-year to $437 million.

Adjusted gross profit increased 16, 4% year over year to $820 million or <unk>, 53% of net sales.

Robotics extraction and corded up rates all contributed to this success and we gained considerable market share in the category.

Adjusted gross margin increased approximately 90 basis points year over year with multiple elements of our mitigation strategy offsetting notable headwind from tariffs.

Net sales in cooking and beverage category returned to growth, increasing six 3% year over year to $437 million.

The biggest positive contributor to adjusted gross margin this quarter came from multiple initiatives across our product cost optimization.

Trends here is similar to last quarter within engine Lux Cafe espresso strength offsetting difficult compares in other sub categories, such as air Fryers outside the U S.

Adam Quigley: The biggest positive contributor to adjusted gross margin this quarter came from multiple initiatives across our product cost optimization. We continually assess gross margin levels to drive improvement through value engineering to reduce bill material costs and by introducing replacement versions of existing products that carry higher underlying gross margins without impacting consumer value. We also made further progress this quarter by diversifying production across our supply chain to drive further savings and flexibility with our dual source model. While we are pleased with adjusted gross margin performance in the quarter, it's important to note that roughly one-third of the year-over-year expansion came from true outperformance, while two-thirds was the result of favorability related to the timing of tariffs flowing through the financials. Moving down the P&L, our adjusted operating expenses this quarter totaled $531 million, or 32.6% of net sales.

We continually assess gross margin levels to drive improvement and value engineering to reduce bill of material costs and by introducing replacement versions of existing products that carry higher underlying gross margins without impacting consumer value.

We also made further progress this quarter by diversifying production across our supply chain to drive further savings and flexibility with our dual source model.

Finally, our beauty and home environment category increased 56, 7% year over year to $189 million.

While we are pleased with adjusted gross margin performance. This quarter. It is important to note that roughly one third of the year over year expansion came from true outperformance of two thirds was the result of favorability related to the timing of tariffs flowing through the financials.

We experienced broad based growth across fans air purifiers hair care and skincare in the quarter.

Now, let's move to gross profit, where we were able to offset higher tariff costs with our relentless focus on profitability.

Mark Barrocas: Trends here are similar to last quarter, with the Ninja Luxe Cafe espresso strength offsetting difficult comparison in other subcategories, such as air fryers outside the US. Net sales in the food preparation category increased 11.9% year-over-year to $411 million. The Ninja Slushie continues to be a global sensation, with availability now across our largest global markets. Finally, our beauty and home environment category increased 56.7% year-over-year to $189 million. We experienced broad-based growth across fans, air purifiers, hair care, and skincare in the quarter. Now let's move to gross profit, where we were able to offset higher tariff costs with our relentless focus on profitability. It's worth noting that the two-year sourcing services agreement with JS Global ended as planned on 31 July 2024. In the third quarter, GAAP gross profit increased 17.6% year-over-year to $818 million, or 50.1% of net sales.

It's worth noting that the two year sourcing services agreement with J S level ended as planned on July 31 of this year.

Moving down the P&L, our adjusted operating expenses this quarter totaled $531 million or.

32, 6% of net sales.

In the third quarter GAAP gross profit increased 17, 6% year over year to $818 million.

This compares to 32, 7% of net sales in the year ago quarter, or 16 basis points of leverage year over year.

Adam Quigley: This compares to 32.7% of net sales from the year-ago quarter, or 16 basis points of leverage year-over-year. As we've committed before, SharkNinja remains laser-focused on balancing cost discipline with the necessary reinvestment levels to fuel our exceptional growth. We're delivering on that pledge. I will now review the components of our operating expenses on an adjusted basis. Research and development expenses decreased 3.2% year-over-year to $89 million compared to $92 million in the prior year period, leveraging 99 basis points year-over-year. I believe this quarter exemplifies how our personnel strategy drives both innovation and efficiency. A year ago, we hired external subject matter experts across new technologies and areas of expertise as we worked to develop new solutions to consumer problems.

Ft, 1% of net sales.

As we've committed before sharpened remains laser focused on balancing cost discipline with the necessary reinvestment levels to fuel our exceptional growth and we're delivering on that pledge.

This represents a record high for GAAP gross margin in our U S listing at a significant milestone with the sharp above the 50% threshold this quarter.

I will now review the components of our operating expenses on an adjusted basis.

Adjusted gross profit increased 16, 4% year over year to $820 million for 53% of net sales.

Research and development expenses decreased three 2% year over year to $89 million compared to $92 million in the prior year period, leveraging 99 basis points year over year.

Adjusted gross margin increased approximately 90 basis points year over year with multiple elements of our mitigation strategy offsetting notable headwind from tariffs.

I believe this quarter exemplifies how our personnel strategy drives both innovation and efficiency.

The biggest positive contributor to adjusted gross margin this quarter came from multiple initiatives across our product cost optimization.

Year ago, we hired external subject matter experts across new technologies and areas of expertise as we work to develop new solutions to consumer problems.

Consistent with our R&D operating model, we strategically brought a portion of that talent in house, allowing us to retain and develop our knowledge base, while optimizing overall operating costs.

Mark Barrocas: This represents a record high for GAAP gross margin since our US listing and a significant milestone for SharkNinja above the 50% threshold this quarter. Adjusted gross profit increased 16.4% year-over-year to $820 million, or 50.3% of net sales. Adjusted gross margin increased approximately 90 basis points year-over-year, with multiple elements of our mitigation strategy offsetting a notable headwind from tariffs. The biggest positive contributor to adjusted gross margin this quarter came from multiple initiatives across our product cost optimization. We continually assess gross margin levels to drive improvement through value engineering to reduce bill of material costs, and by introducing replacement versions of existing products that carry higher underlying gross margins without impacting consumer value. We also made further progress this quarter by diversifying production across our supply chain to drive further savings and flexibility with our dual-source model.

Adam Quigley: Consistent with our R&D operating model, we strategically brought a portion of that talent in-house, allowing us to retain and develop our knowledge base while optimizing overall operating costs. Sales and marketing expenses increased 20.7% year-over-year to $355 million compared to $294 million in the prior year period, deleveraging 116 basis points year-over-year. We continue to invest confidently in our differentiated marketing and demand generation efforts, particularly in new and growing geographies. General and administrative expenses increased 7.6% year-over-year to $87 million compared to $81 million in the prior year period, leveraging 33 basis points year-over-year. The bulk of that increase relates to higher merchant fees in our direct-to-consumer business, driven by channel growth in EMEIA.

We also made further progress this quarter by diversifying production across our supply chain to drive further savings and flexibility with our dual source model.

Sales and marketing expenses increased 27% year over year to $355 million compared.

Compared to $294 million in the prior year period, deleveraging 116 basis points year over year.

While we are pleased with adjusted gross margin performance fourth quarter. It's important to note that roughly one third of the year over year expansion campaign true outperformance of two thirds was the result of favorability related to the timing of tariffs flowing through the financials.

We continue to invest confidently in our differentiated marketing and demand generation efforts, particularly in growing geographies.

General and administrative expenses increased seven 6% year over year to $87 million <unk>.

Moving down the P&L, our adjusted operating expenses this quarter totaled $531 million or <unk> 32, 6% of net sales.

Fair to $81 million in the prior year period, leveraging 33 basis points year over year.

This compares to 32, 7% of net sales in the year ago quarter, or 16 basis points of leverage year over year.

The bulk of that increase relates to higher merchant fees and our direct to consumer business driven by channel growth in EMEA.

Profitability improvement as the cornerstone of our financial philosophy at Shark Ninja with a focus on adjusted EBITDA.

As we've committed before sharpening to remain laser focused on cost discipline with the necessary reinvestment levels that fuel our exceptional growth and we're delivering on that pledge.

Adam Quigley: Profitability improvement is the cornerstone of our financial philosophy at SharkNinja, with a focus on Adjusted EBITDA. We are very pleased to deliver outstanding performance, with Adjusted EBITDA growing 20.7% year-over-year to $317 million. This represents a 19.4% Adjusted EBITDA margin, up 100 basis points compared to the prior year period. A really incredible effort by the team here. We will continue to prioritize Adjusted EBITDA margin improvement by pursuing opportunities on both the gross margin and operating expense lines. To wrap up the income statement, our GAAP effective tax rate in Q3 was 22.6%, while our non-GAAP effective tax rate was 22.3%.

We are very pleased to deliver outstanding performance with adjusted EBITDA growing 27% year over year to $317 million.

Mark Barrocas: While we are pleased with adjusted gross margin performance in the quarter, it's important to note that roughly 1/3 of the year-over-year expansion came from true outperformance, while 2/3 was the result of favorability related to the timing of tariffs flowing through the financials. Moving down the P&L, our adjusted operating expenses this quarter totaled $531 million, or 32.6% of net sales. This compares to 32.7% of net sales in the year-ago quarter, or 16 basis points of leverage year-over-year. As we've committed before, SharkNinja remains laser-focused on balancing cost discipline with the necessary reinvestment levels to fuel our exceptional growth, and we're delivering on that pledge. I will now review the components of our operating expenses on an adjusted basis. Research and development expenses decreased 3.2% year-over-year to $89 million compared to $92 million in the prior year period, leveraging 99 basis points year-over-year.

I will now review the components of our operating expenses on an adjusted basis.

Research and development expenses decreased three 2% year over year to $89 million compared to $92 million in the prior year period, leveraging 99 basis points year over year.

This represents a 19, 4% adjusted EBIT margin up 100 basis points compared to the prior year period.

Incredible effort by the team here.

We will continue to prioritize adjusted EBIT margin improvement by pursuing opportunities on both the gross margin and operating expense lines.

I believe this quarter exemplifies how our personnel strategy drives both innovation and efficiency.

Year ago, we hired external subject matter experts across new technologies and areas of expertise as we work to develop new solutions to consumer problems.

To wrap up the income statement, our GAAP effective tax rate in Q3 was 22, 6%, while our non-GAAP effective tax rate was 22, 3%.

Consistent with our R&D operating model, we strategically brought a portion of that talent in house, allowing us to retain and develop our knowledge base, while optimizing overall operating costs.

Adjusted net income for the period was $213 million or $1 50 per diluted share compared to $170 million or $1 21 per diluted share and a year ago period.

Adam Quigley: Adjusted net income for the period was $213 million, or $1.50 per diluted share, compared to $170 million, or $1.21 per diluted share in the year ago period. This represents an incredible 24% increase year-over-year, with SharkNinja achieving record results for both GAAP and non-GAAP earnings per share in the Q3. Turning to the balance sheet and cash flow. We continue to prioritize flexibility given the substantial advantages our balance sheet provides relative to what we observe across the peer group. At the end of the Q3, cash and cash equivalents totaled $264 million, up more than 100% year-over-year, with total debt outstanding of $746 million.

Sales and marketing expenses increased 27% year over year to $355 million compared to $294 million in the prior year period, deleveraging 116 basis points year over year.

This represents an incredible 24% increase year over year with sharpening achieving record results for both GAAP and non-GAAP earnings per share in the third quarter.

We continue to invest confidently in our differentiated marketing and demand generation efforts, particularly in new growing geographies.

Mark Barrocas: I believe this quarter exemplifies how our personnel strategy drives both innovation and efficiency. A year ago, we hired external subject matter experts across new technologies and areas of expertise as we worked to develop new solutions to consumer problems. Consistent with our R&D operating model, we strategically brought a portion of that talent in-house, allowing us to retain and develop our knowledge base while optimizing overall operating costs. Sales and marketing expenses increased 20.7% year-over-year to $355 million, compared to $294 million in the prior year period, deleveraging 116 basis points year-over-year. We continue to invest confidently in our differentiated marketing and demand generation efforts, particularly in new and growing geographies. General and administrative expenses increased 7.6% year-over-year to $87 million, compared to $81 million in the prior year period, leveraging 33 basis points year-over-year.

Turning to the balance sheet and cash flow.

We continue to prioritize flexibility given the substantial advantages our balance sheet provides relative to what we observed across the peer group.

General and administrative expenses increased seven 6% year over year to $87 million compared to $81 million in the prior year period, leveraging 33 basis points year over year.

At the end of the third quarter cash and cash equivalents totaled $264 million.

Up more than 100% year over year with total debt outstanding of $746 million.

The bulk of that increase relates to higher merchant fees and our direct to consumer business driven by channel growth in EMEA.

We continue to have nearly $490 million of capacity available to us on our $500 million revolving credit facility.

Profitability improvement as the cornerstone of our financial philosophy at Shark Ninja with a focus on adjusted EBITDA.

Adam Quigley: We continue to have nearly $490 million of capacity available to us on our $500 million revolving credit facility. Total inventories were $1.16 billion exiting the quarter, up 7.6% year-over-year. We've worked through the majority of the tariff pre-build inventory that we strategically added in late 2024 and early 2025. Our healthy inventory levels position us well heading into the holiday season. Let's move to the updated outlook. Entering Q4, we remain confident in our ability to outperform the market. While tariffs remain a dynamic challenge, our revised outlook assumes current tariff levels persist, including minimum rates of 20% for China, 20% Vietnam, 19% for Indonesia, Thailand, Malaysia, and Cambodia. For Q4 2025, we expect our net sales growth to be around 16% year-over-year.

We are very pleased to deliver outstanding performance with adjusted EBITDA growing 27% year over year to $317 million.

Total inventories were $1 $1 6 billion exiting the quarter up seven 6% year over year.

This represents a 19, 4% adjusted EBIT margin up 100 basis points compared to the prior year period.

We've worked through the majority of the tariff rebuild inventory that we strategically added in late 2024 and early 2025.

Our healthy inventory levels position us well heading into the holiday season.

Really incredible effort by the team here.

We will continue to prioritize adjusted EBITDA margin improvement by pursuing opportunities on both the gross margin and operating expense lines.

Let's move to the updated outlook.

Entering Q4, we remain confident in our ability to outperform the market while tariffs remain a dynamic challenged our outlook assumes current tariff levels persist, including minimum rates of 20% for China, 20%, Vietnam, 19%, Indonesia, Thailand, Malaysia and Cambodia.

Mark Barrocas: The bulk of that increase relates to higher merchant fees in our direct-to-consumer business, driven by channel growth in EMEA. Profitability improvement is the cornerstone of our financial philosophy at SharkNinja, with a focus on adjusted EBITDA. We are very pleased to deliver outstanding performance, with adjusted EBITDA growing 20.7% year-over-year to $317 million. This represents a 19.4% adjusted EBITDA margin, up 100 basis points compared to the prior year period, a really incredible effort by the team here. We will continue to prioritize adjusted EBITDA margin improvement by pursuing opportunities on both the gross margin and operating expense lines. To wrap up the income statement, our GAAP effective tax rate in Q3 was 22.6%, while our non-GAAP effective tax rate was 22.3%. Adjusted net income for the period was $213 million, or $1.50 per diluted share, compared to $170 million, or $1.21 per diluted share in the year-ago period.

To wrap up the income statement, our GAAP effective tax rate in Q3 was 22, 6%, while our non-GAAP effective tax rate was 22, 3%.

Adjusted net income for the period was $213 million or $1 50 per diluted share compared to $170 million.

For the fourth quarter of 2025, we expect our net sales growth to be around 16% year over year.

Our $1 21 per diluted share and a year ago period.

We anticipate the timing impacts I mentioned earlier related to tariffs will put pressure on our adjusted gross margin by roughly 50 basis points compared to the prior year period.

This represents an incredible 24% increase year over year with sharp and achieving record results for both GAAP and non-GAAP earnings per share in the third quarter.

Adam Quigley: We anticipate the timing impacts I mentioned earlier related to tariffs will put pressure on our adjusted gross margin by roughly 50 basis points compared to the prior year period. We also anticipate nearly 250 basis points of year-over-year leverage on adjusted operating expense as a percentage of net sales. This sizable improvement comes from seasonally strong Q4 sales combined with our continued cost discipline. Finally, we expect adjusted EBITDA margin in Q4 to increase approximately 200 basis points compared to the prior year period. This expansion, of course, is also impacted by timing shifts related to tariffs. When combined with our Q3 adjusted EBITDA performance, we anticipate second half 2025 adjusted EBITDA margin to demonstrate notable improvement compared to the second half of 2024.

We also anticipate nearly 250 basis points of year over year leverage on adjusted operating expense as a percentage of net sales.

Turning to the balance sheet and cash flow.

We continue to prioritize flexibility given the substantial advantages our balance sheet provides relative to what we observed across the peer group.

Sizable improvement comes from seasonally strong fourth quarter sales combined with our continued cost discipline.

At the end of the third quarter cash and cash equivalents totaled $264 million.

Finally, we expect adjusted EBIT margin in Q4 to increase approximately 200 basis points compared to the prior year period.

Up more than 100% year over year with total debt outstanding of $746 million.

This expansion of course is also impacted by timing shifts related to tariffs.

We continue to have nearly $490 million of capacity available to us at our $500 million revolving credit facility.

When combined with our Q3 adjusted EBIT performance, we anticipate second half 2025, adjusted EBIT margin to demonstrate notable improvement compared to the second half of 2024.

Mark Barrocas: This represents an incredible 24% increase year-over-year, with SharkNinja achieving record results for both GAAP and non-GAAP earnings per share in the third quarter. Turning to the balance sheet and cash flow, we continue to prioritize flexibility, given the substantial advantages our balance sheet provides relative to what we observe across the peer group. At the end of the third quarter, cash and cash equivalents totaled $264 million, up more than 100% year-over-year, with total debt outstanding of $746 million. We continue to have nearly $490 million of capacity available to us on our $500 million revolving credit facility. Total inventories were $1.16 billion exiting the quarter, up 7.6% year-over-year. We've worked through the majority of the tariff pre-build inventory that we strategically added in late 2023 and early 2024. Our healthy inventory levels position us well heading into the holiday season. Let's move to the updated outlook.

Total inventories were $1 $1 6 billion exiting the quarter up seven 6% year over year.

For the full year 2025, we now expect net sales to increase between 15% and 15, 5% compared to our prior guidance of 13% to 15% increase.

Adam Quigley: For the full year 2025, we now expect net sales to increase between 15% and 15.5% compared to our prior guidance of a 13% to 15% increase. Adjusted net income per diluted share is now expected to be in the range of $5.05 to $5.15, compared to $5.00 to $5.10 previously. Adjusted EBITDA is now expected to be in the range of $1.115 billion to $1.125 billion, representing growth of 17.2% to 18.3% year-over-year, compared to the prior expectation of $1.1 billion to $1.12 billion, representing growth of 16% to 18% year-over-year.

We've worked through the majority of the tariff rebuild inventory that we strategically added in late 2024 and early 2025.

Adjusted net income per diluted share is now expected to be in the range of $5 <unk> to.

Our healthy inventory levels position us well heading into the holiday season.

The $5 15 compared to $5 to $5 <unk> previously.

Let's move to the updated outlook.

Entering Q4, we remain confident in our ability to outperform the market while tariffs remain a dynamic challenged our revised outlook assumes current tariff levels persist, including minimum rates of 20% for China, 20%, Vietnam, 19%, Indonesia, Thailand, Malaysia Cambodia.

Adjusted EBITDA is now expected to be in the range of $1 115 billion.

To 112 5 billion.

Representing growth of 17, 2% to 18, 3% year over year compared to the prior expectation of $1 1 billion to $1 2 billion.

For the fourth quarter of 2025, we expect our net sales growth to be around 16% year over year.

Representing growth of 16% to 18% year over year.

Net interest expense is now expected to be down $5 million to $10 million relative to 2024 compared to our previous outlook of flat.

We anticipate the timing impacts I mentioned earlier related to tariffs will put pressure on our adjusted gross margin by roughly 50 basis points compared to the prior year period.

Adam Quigley: Net interest expense is now expected to be down $5 to 10 million relative to 2024 compared to our previous outlook of flat. Our GAAP effective tax rate expectation is now in a range of approximately 23% to 24%, compared to a range of approximately 24% to 25% previously. Our capital expenditures guidance remains $180 to 200 million for the year. We are tracking toward the lower end of that range due to more efficient deployment of capital. To close, our performance in Q3 exceeded expectations across the board. Reflecting on my tenure, I marvel at how we've evolved and what we've accomplished. While we continue delivering strong growth and profitability, the drivers are now much more expansive. We believe our diversification across products, retailers, and geographies should enable us to navigate challenges more effectively than ever before.

Our GAAP effective tax rate expectation is now in a range of approximately 23% to 24% compared to a range of approximately 24% 25% previously.

We also anticipate nearly 250 basis points of year over year leverage on adjusted operating expense as a percentage of net sales.

Mark Barrocas: Entering Q4, we remain confident in our ability to outperform the market. While tariffs remain a dynamic challenge, our revised outlook assumes current tariff levels persist, including minimum rates of 20% for China, 20% for Vietnam, and 19% for Indonesia, Thailand, Malaysia, and Cambodia. For the fourth quarter of 2025, we expect our net sales growth to be around 16% year-over-year. We anticipate the timing impacts I mentioned earlier related to tariffs will put pressure on our adjusted gross margin by roughly 50 basis points compared to the prior year period. We also anticipate nearly 250 basis points of year-over-year leverage on adjusted operating expense as a percentage of net sales. This sizable improvement comes from seasonally strong fourth-quarter sales, combined with our continued cost discipline. Finally, we expect adjusted EBITDA margin in Q4 to increase approximately 200 basis points compared to the prior year period.

A sizable improvement comes from seasonally strong fourth quarter sales combined with our continued cost discipline.

Our capital expenditures guidance remains 180 million to $200 million for the year, we are tracking toward the lower end of that range in a more efficient deployment of capital.

Finally, we expect adjusted EBIT margin in Q4 to increase approximately 200 basis points compared to the prior year period.

To close our performance in Q3 exceeded expectations across the board, reflecting on my tenure I Marvel at how we've evolved and what we've accomplished while we continue delivering strong growth and profitability that drivers are now much more expensive.

This expansion of course is also impacted by timing shifts related to tariffs.

When combined with our Q3 adjusted EBIT performance, we anticipate second half 2025, adjusted EBIT margin to demonstrate notable improvement compared to the second half of 2024.

And believe our diversification across products retailers and geographies should enable us to navigate challenges more effectively than ever before.

For the full year 2025, we now expect net sales to increase between 15% and 15, 5% compared to our prior guidance of 13% to 15% increase.

I've also witnessed tremendous development across our finance organization during my decade, plus as shock measure. It is my distinct honor to lead this amazingly talented group as we work to continue driving value for consumers employees and shareholders I will now turn it back to Mark.

Adam Quigley: I've also witnessed tremendous development across our finance organization during my decade plus at SharkNinja. It is my distinct honor to lead this amazingly talented group as we work to continue driving value for consumers, employees, and shareholders. I will now turn it back to Mark.

Adjusted net income per diluted share is now expected to be in the range of $5 <unk> to.

The $5 15 compared to $5 to $5 <unk> previously.

Thanks, Adam 2025 has been a year of unprecedented challenges for businesses around the world.

Adjusted EBITDA is now expected to be in the range of $1 115 billion to $1 125 billion.

Mark Barrocas: Thanks, Adam. 2025 has been a year of unprecedented challenges for businesses around the world. While many companies struggle in this environment, SharkNinja's thriving in uncertain times. Where others may lack the willingness or capability to innovate and seize the moment, we're forging ahead full throttle. Why do we operate like this? It's our existential drive to be the absolute best at what we do. This is the cornerstone of the outrageously extraordinary mindset that fuels everything from consumer insights and product development to supply chain and marketing. Mindset means nothing without execution, which is core to our DNA. Our success is inextricably linked to the why and the how of SharkNinja, which I believe distinguishes us from everyone else. I'm proud of what we've accomplished this year and even more excited about what's to come in 2026 and beyond.

Mark Barrocas: This expansion, of course, is also impacted by timing shifts related to tariffs. When combined with our Q3 adjusted EBITDA performance, we anticipate second half 2025 adjusted EBITDA margin to demonstrate notable improvement compared to the second half of 2024. For the full year 2025, we now expect net sales to increase between 15% and 15.5% compared to our prior year guidance of a 13% to 15% increase. Adjusted net income per diluted share is now expected to be in the range of $5.05 to $5.15 compared to $5.00 to $5.10 previously. Adjusted EBITDA is now expected to be in the range of $1.115 billion to $1.125 billion, representing growth of 17.2% to 18.3% year-over-year compared to the prior expectation of $1.1 billion to $1.12 billion, representing growth of 16% to 18% year-over-year.

While many companies struggle in this environment sharpening just thriving in uncertain times, where others may lack the willingness or capability to innovate and seize the moment. We're forging ahead full throttle why do we operate like this it's our existential drive to be the absolute best in what we do.

Representing growth of 17, 2% to 18, 3% year over year compared to the prior expectation of $1 1 billion to $1 $2 billion.

Representing growth of 16% to 18% year over year.

Net interest expense is now expected to be down $5 million to $10 million relative to 2024 compared to our previous outlook of flat.

This is the cornerstone of the outrageous pretty extraordinary mindset that fuels everything from consumer insights and product development to supply chain and marketing, but mindset means nothing without execution, which is core to our DNA. Our success is inextricably linked to the why and the how of shark Ninja.

Our GAAP effective tax rate expectation is now in a range of approximately 23%, 24% compared to a range of approximately 24% 25% previously.

Our capital expenditures guidance remains 180 million to $200 million for the year, we're tracking toward the lower end of that range in a more efficient deployment of capital.

Which I believe distinguishes us from everyone else I'm proud of what we've accomplished this year and even more excited about what's to come in 2026 and beyond my sincere gratitude to everyone at shark Ninja, who has gone above and beyond to drive our great results.

To close our performance in Q3 exceeded expectations across the board, reflecting on my tenure I Marvel at how we've evolved and what we've accomplished.

Mark Barrocas: My sincere gratitude to everyone at SharkNinja who has gone above and beyond to drive our great results. Thank you. This concludes our prepared remarks. I'll now turn it over to the operator to kick off Q&A. Operator?

Thank you and this concludes our prepared remarks, and I'll now turn it over to the operator to kick off Q&A operator.

We continue delivering strong growth and profitability that drivers are now much more expensive.

Mark Barrocas: Net interest expense is now expected to be down $5 to 10 million relative to 2024 compared to our previous outlook of flat. Our GAAP-effective tax rate expectation is now in a range of approximately 23% to 24% compared to a range of approximately 24% to 25% previously. Our capital expenditures guidance remains $180 million to $200 million for the year. We are tracking toward the lower end of that range due to more efficient deployment of capital. To close, our performance in Q3 exceeded expectations across the board. Reflecting on my tenure, I marvel at how we've evolved and what we've accomplished. While we continue delivering strong growth and profitability, the drivers are now much more expansive. We believe our diversification across products, retailers, and geographies should enable us to navigate challenges more effectively than ever before.

We believe our diversification across products retailers and geographies should enable us to navigate challenges more effectively than ever before.

Thank you Mark we will now begin the question and answer session and if he would like to ask a question. Please press star one on your telephone keypad.

Operator: Thank you, Mark. We will now begin the question-and-answer session. If you would like to ask a question, please press star one on your telephone keypad. Please note, due to time and fairness, we do ask that you please limit yourself to one question and one follow-up. If for any reason you would like to remove that question, please press star followed by two. The first question comes from Brooke Roach with Goldman Sachs. Please go ahead.

I've also witnessed tremendous development across our finance organization during my decade, plus it's sharp and yet it is my distinct honor to lead this amazingly talented group as we work to continue driving value for consumers employees and shareholders I will now turn it back to Mark.

Nick can you just time and fairness, we do ask that you. Please limit yourself to one question and one follow up.

Any reason you would like for me. It's a question. Please press star followed by <unk>.

The first question comes from Brett Reiss with Goldman Sachs. Please go ahead.

Thanks, Adam 2025 has been a year of unprecedented challenges for businesses around the world. While many companies struggle in this environment sharp means just thriving in uncertain times, where others may lack the willingness or capability to innovate and seize the moment. We're forging ahead full throttle.

Good morning, and thank you for taking our question Mark can you speak to your outlook for category growth for holiday and into 2026, how confident are you in your ability to continue to outperform the category to the same degree into next year and as your portfolio of new innovation and robust enough to cycle your own tough compare.

Brooke Roach: Good morning, and thank you for taking our question. Mark, Adam, can you speak to your outlook for category growth for holiday and into 2026? How confident are you in your ability to continue to outperform the category to the same degree into next year? Is your portfolio of new innovation robust enough to cycle your own tough comparisons and continue to deliver a double-digit level of US growth into 2026? Thank you.

Why do we operate like this.

Our existential drive to be the absolute best in what we do.

<unk> and continue to deliver a double digit level of U S growth into 2026. Thank you.

Mark Barrocas: I've also witnessed tremendous development across our finance organization during my decade-plus at SharkNinja. It is my distinct honor to lead this amazingly talented group as we work to continue driving value for consumers, employees, and shareholders. I'll now turn it back to Mark. Thanks, Adam. 2025 has been a year of unprecedented challenges for businesses around the world. While many companies struggle in this environment, SharkNinja is thriving in uncertain times. Where others may lack the willingness or capability to innovate and seize the moment, we're forging ahead full throttle. Why do we operate like this? It's our existential drive to be the absolute best at what we do. This is the cornerstone of the outrageously extraordinary mindset that fuels everything, from consumer insights and product development to supply chain and marketing. Mindset means nothing without execution, which is core to our DNA.

Yeah. Thanks, so much for the question.

Mark Barrocas: Yeah. Thanks so much, Brooke, for the question. I guess I'll start with your second question first on new innovation. The pipeline of new innovation that we have coming out, I think is great. You could just see what we've done over the last couple of weeks now. I mean, you know, our consumer problem-solving machine was on full display. I mean, we reinvented outdoor heating and fire pit. You know, we solved the problem of Stainxiety with our cordless stain, StainForce. You know, we brought an at-home facial solution that extracts, moisturizes, and depuffs your skin. I'm not sure that there's another company solving all of these different types of problems. You know, I think we've got a great roadmap of innovation.

I guess I'll start with your second question first on new innovation.

Our pipeline of new innovation that we have coming out I think is great.

You can just see what we've done over the last couple of weeks now I mean, our consumer problem solving machine was on full display I mean, we reinvented outdoor heating and fire pit.

We solve the problem of sustained xiety with our cordless steam steam force.

We brought in at home facial solution that extracts moisturizers and deposits your skin.

Thank you and this concludes our prepared remarks, and I'll now turn it over to the operator to kick off Q&A operator.

Im not sure that there is another company solving all of these different types of problems. So.

I think we've got a great roadmap of innovation, what I think I'm also really excited about Brooke is things that we're doing like for example, with the blend boss, we're reinventing existing categories I think what we've done with crispy pro look at how we're not resting on our laurels with the air Fryer Qatar.

Thank you Mark we will now begin the question and answer session and if he would like to ask a question. Please press star one on your telephone keypad.

Mark Barrocas: What I think I'm also really excited about, Brooke, is things that we're doing, like, for example, with the BlendBOSS, we're reinventing existing categories. I think what we've done with CRISPi PRO, you know, look at how we're not resting on our laurels with the air fryer category, but we're trying to completely actually reinvent the air fryer category, you know, with CRISPi and now CRISPi PRO. The innovation's coming not just from new categories and kind of home run new ideas, but it's coming from reinventing the base. I think as we go into 2026, I think we're gonna see an increasingly, larger amount of new products coming from reinventing the base. On your first question, in terms of category growth, I mean, look, I think we've consistently outperformed the market now, you know, for the 10 quarters that we've been a US public company.

Please Nate can you just time and fairness, we do ask that you. Please limit yourself to one question and one follow up if any reason you would like for me. It's a question. Please press star followed by <unk>.

Mark Barrocas: Our success is inextricably linked to the why and the how of SharkNinja, which I believe distinguishes us from everyone else. I'm proud of what we've accomplished this year, and even more excited about what's to come in 2026 and beyond. My sincere gratitude to everyone at SharkNinja who has gone above and beyond to drive our great results. Thank you, this concludes our prepared remarks. I'll now turn it over to the operator to kick off Q&A. Operator? Thank you, Mark. We will now begin the question and answer session. If you would like to ask a question, please press star one on your telephone keypad. Please note, due to time and fairness, we do ask that you please limit yourself to one question and one follow-up. If for any reason you would like to remove that question, please press star followed by two.

Corey, but we're trying to completely actually reinvent the air Fryer category with crispy and now Christy pros. So the innovation is coming not just from new categories and kind of homerun, new ideas, but it's coming from reinventing the base and I think as we go into 'twenty six I think we're going to see an increasingly.

The first question comes from Ryan <unk> with Goldman Sachs. Please go ahead.

Larger amount of new products coming from reinventing the base on your first question in terms of category growth I mean look I think we've consistently outperformed the market now for the 10 quarters that we've been a U S public company.

Arison and continue to deliver a double digit level of U S growth into 2026. Thank you.

Yeah. Thanks, so much for the question I guess I'll start with your second question first on new innovation.

I believe the innovation cycle is there I think we're getting better and better at our content creation that we are developing our engaging with consumers more.

Mark Barrocas: I believe the innovation cycle is there. I think we're getting better and better at our content creation that we're developing. We're engaging with consumers more. You know, I'm excited about, you know, where things are headed.

The pipeline of new innovation that we have coming out I think it's great. You can just see what we've done over the last couple of weeks now I mean, our.

Mark Barrocas: The first question comes from Brooke Roach with Goldman Sachs. Please go ahead. Good morning, and thank you for taking our question. Mark, Adam, can you speak to your outlook for category growth for holiday and into 2026? How confident are you in your ability to continue to outperform the category to the same degree into next year? Is your portfolio of new innovation robust enough to cycle your own tough comparisons and continue to deliver a double-digit level of US growth into 2026? Thank you. Yeah, thanks so much, Brooke, for the question. I guess I'll start with your second question first on new innovation. The pipeline of new innovation that we have coming out, I think, is great. You could just see what we've done over the last couple of weeks now. I mean, our consumer problem-solving machine was on full display.

So.

I am excited about where things are headed.

Tumor problem solving machine was on full display I mean, we reinvented outdoor heating and fire pit.

Great. Thanks, so much I'll pass it on.

Solve the problem of sustained xiety with our cordless steam steam force.

Brooke Roach: Great. Thanks so much. I'll pass it on.

Your next.

Question comes from Randy Clinic with Jefferies. Please go ahead.

We brought in at home facial solution that extracts moisturizers and deposits your skin.

Operator: Your next question comes from Randal Konik with Jefferies. Please go ahead. Randy, your line is now open.

Im not sure that there is another company solving all of these different types of problems. So.

Randy Your line is now open.

I think we've got a great roadmap of innovation.

Hey, Great can you hear me.

I think I'm also really excited about Brooke is things that we're doing like for example, with the blend box. We're reinventing existing categories I think what we've done with crispy pro look at how we're not resting on our laurels with the air Fryer category, but we're trying to completely actually reinvent the air Fryer CAD.

Yes, we can.

Randal Konik: Hey, great. Can you hear me?

Randy Konik: Hey, great. Can you hear me?

Alright, thanks, guys.

Mark Barrocas: Yep, we can.

Just wanted to kind of go through Adam first and foremost congratulations on your new role.

Randal Konik: All right. Thanks, guys. Just wanted to kinda go through... Adam, first and foremost, congratulations on your new role. In terms of...

Randy Konik: All right. Thanks, guys. Just wanted to kinda go through... Adam, first and foremost, congratulations on your new role. In terms of...

In terms of if.

If I think about the new design center.

Mark Barrocas: Thank you.

Randal Konik: If I think about the new design center, opening up in the last week or so, Mark, can you talk about, you know, what are your hopes in terms of utilizing that design center to kind of continue to build more muscle into the organization, build more innovation? You know, where do you see that kind of fitting into the rest of the infrastructure you've built around the world? Kinda let's start there.

Randy Konik: If I think about the new design center, opening up in the last week or so, Mark, can you talk about, you know, what are your hopes in terms of utilizing that design center to kind of continue to build more muscle into the organization, build more innovation? You know, where do you see that kind of fitting into the rest of the infrastructure you've built around the world? Kinda let's start there.

Mark Barrocas: I mean, we reinvented outdoor heating and fire pit. We solved the problem of stains anxiety with our cordless Stain Force. We brought an at-home facial solution that extracts, moisturizes, and depuffs your skin. I'm not sure that there's another company solving all of these different types of problems. I think we've got a great roadmap of innovation. What I think I'm also really excited about, Brooke, is things that we're doing, like for example, with the Blend Boss, we're reinventing existing categories. I think what we've done with Crispy Pro, look at how we're not resting on our laurels with the air fryer category, but we're trying to completely actually reinvent the air fryer category with Crispy and now Crispy Pro. The innovation is coming not just from new categories and kind of home-run new ideas, but it's coming from reinventing the base.

Opening up in the last week or so Mark can you talk about.

Gory with crispy and now Christy Pro so the innovation is coming not just from new categories and kind of homerun, new ideas, but it's coming from reinventing the base and I think as we go into 'twenty six.

What are your hopes in terms of utilizing that design center.

Continue to build more muscle into the organization build more innovation.

Do you see that kind of fitting into the rest of the rest of the infrastructure is built around the world let's start there.

We're going to see an increasingly larger amount of new products coming from reinventing the base on your first question in terms of category growth I mean look I think we've consistently outperformed the market now for the 10 quarters that we've been a U S public company.

Yeah, Randy I think I would start with going back to 2014, when we opened up our engineering office in Central London and recognize that there was a talent base.

Mark Barrocas: Yeah, Randy. I think I would start with going back to 2014 when we opened up our engineering office in Central London and recognized that there was a talent base in London for design engineering that we just couldn't attract in Boston to the degree that we wanted to at the time. Fast-forward today, we have over 200 engineers in the Battersea Power Station that has really helped build this kind of chasing the sun innovation approach that SharkNinja has developed. I think there's a lot of parallels and similarities with that here in New York. I'm actually in New York now. I think from a creative standpoint, there is just a level of creative talent that's exceptional in New York.

He's in London for design engineering that we just couldnt attract in Boston to the degree that we wanted to at the time and fast forward today, we have over 200 engineers in the Battersea power station.

I believe the innovation cycle is there I think we're getting better and better at our content creation that we are developing how we're engaging with consumers more.

That has really helped build this kind of chasing the sun.

So.

I am excited about where things are headed.

Innovation approach that shark Ninja has developed.

There's a lot of parallels and similarities with that here in New York and I'm actually in New York now.

Great. Thanks, so much I'll pass it on.

Mark Barrocas: I think as we go into 2026, I think we're going to see an increasingly larger amount of new products coming from reinventing the base. On your first question in terms of category growth, I mean, look, I think we've consistently outperformed the market now for the 10 quarters that we've been a US public company. I believe the innovation cycle is there. I think we're getting better and better at our content creation that we're developing. We're engaging with consumers more. I'm excited about where things are headed. Great. Thanks so much. I'll pass it on. Your next question comes from Randy Connick with Jefferies. Please go ahead. Randy, your line is now open. Hey, great. Can you hear me? Yep, we can. All right. Thanks, guys. Just wanted to kind of go through, Adam, first and foremost, congratulations on your new role. In terms of.

Your next question comes from Randy Clinic with Jefferies. Please go ahead.

I think from a creative standpoint, there is just a level of creative talent. That's exceptional in New York I think from a design perspective, I think PR media buying social media will have a content creator studio that will be here right in Midtown I think it's exciting that we're actually going.

Mark Barrocas: I think from a design perspective, I think PR, media buying, social media, we'll have a content creator studio that will be here right in Midtown. I think it's exciting that we're actually gonna be designing and developing products here in Midtown Manhattan. I actually had the Dean of Columbia Engineering School here last week that was excited to send down students and interns here at the facility. All in all, I think it's just gonna be a great magnet for talent for us, and I think it's gonna blend together really well with our teams in Boston and London and around the world, you know, to just bring together the best and brightest people.

Randy Your line is now open.

Okay, Great can you hear me.

Yes, we can.

Be designing and developing products here in Midtown Manhattan, I actually have the Dean of Columbia Engineering School here last week, there was excited to send down students and in turns here at the facility. So all in all I think it's just going to be a great magnet for.

Alright, thanks, guys.

Just wanted to kind of go through Adam first and foremost congratulations on your new role.

In terms of if.

If I think about the new design center.

Opening up in the last week or so Mark can you talk about.

What are your hopes in terms of utilizing that design center.

Talent for Us and I think it's going to blend together really well with our teams in Boston and London and around the world.

Continue to build more muscle into the organization build more innovation, where do you see that kind of fitting into the rest of the rest of the infrastructure is built around the world let's start there.

To just bring together the best and brightest people.

Super Helpful. My I guess my last follow up would be.

Yeah, Randy I think I would start with going back to 2014, when we opened up our engineering office in Central London and recognize that there was a talent base in London for design engineering that we just couldnt attract in Boston to the degree.

Randal Konik: Super helpful. My, I guess my last follow-up would be, when you think about the next few years and driving continued international growth, maybe remind us kind of just the way you think about international and how big it should be as a proportion of the total business within a few years, and where you see the biggest opportunities. You keep talking about massive continued growth in the UK and beyond. Then Adam, just to follow up on gross margin, I think you've talked about there's still ability to kind of bring that further higher in the years ahead. Maybe talk to some of the puts and takes you think about high level from a gross margin standpoint as we think about the next couple years. Thanks, guys.

Randy Konik: Super helpful. My, I guess my last follow-up would be, when you think about the next few years and driving continued international growth, maybe remind us kind of just the way you think about international and how big it should be as a proportion of the total business within a few years, and where you see the biggest opportunities. You keep talking about massive continued growth in the UK and beyond. Then Adam, just to follow up on gross margin, I think you've talked about there's still ability to kind of bring that further higher in the years ahead. Maybe talk to some of the puts and takes you think about high level from a gross margin standpoint as we think about the next couple years. Thanks, guys.

When you think about the next few years and driving.

<unk> International growth, maybe remind us kind of just the way you think about international and how big it could be as a proportion of the total business within a few years and where you're seeing the biggest opportunities keep talking about massive.

Mark Barrocas: Thank you. If I think about the new design center opening up in the last week or so, Mark, can you talk about what are your hopes in terms of utilizing that design center to kind of continue to build more muscle into the organization, build more innovation? Where do you see that kind of fitting into the rest of the infrastructure you've built around the world? Kind of let's start there. Yeah, Randy, I think I would start with going back to 2014 when we opened up our engineering office in central London and recognized that there was a talent base in London for design engineering that we just couldn't attract in Boston to the degree that we wanted to at the time. Fast forward to today, we have over 200 engineers in the Battersea Power Station. That has really helped build this kind of chasing the sun.

Three that we wanted to at the time and fast forward today, we have over 200 engineers in the Battersea power station.

<unk> growth in the U K and beyond.

And then and then Adam just to follow up on gross margin.

That has really helped build this kind of chasing the sun.

You've talked about there is still ability to kind of bring that further.

Innovation approach that shark Ninja has developed I think theres a lot of parallels and similarities with that here in New York and I'm actually in New York now.

Higher in the in the years ahead, maybe talk through some of the puts and takes you think about high level from a gross margin standpoint, I think about the next couple of years. Thanks guys.

I think from a creative standpoint, there's just a level of creative talent, that's exceptional in New York.

Yeah look on the international side.

From a design perspective, I think PR media buying social media will have a content creator studio that will be here right in Midtown I think it's exciting that we're actually going to be designing and developing products here in Midtown Manhattan, I actually have the dean of Columbia.

Mark Barrocas: Yeah. Look, on the international side, I think what's most exciting is that, you know, our model is replicating globally. I mean, let's start with that. I mean, if I go back a couple years ago, people would say, well, you know, Europe is so different, it's so fragmented. You know, Latin America, how do you even get to that market? Is it even accessible to you? I think we've kind of proven out that the model of disruptive consumer-focused product innovation and viral marketing that creates consumer demand, you know, is a global, translatable strategy. And we're seeing that, you know, in countries around the world. I'm very excited about Europe. You know, I'm very excited about Latin America.

I think what's most exciting is that our model.

Is replicating globally I mean, let's start with that I mean, if I go back a couple years ago people would say well <unk>.

Europe is so different it's so fragmented Latin America, how do you even get to that market is it even accessible to you and I think we've kind of proven out that the model of disruptive consumer focused product innovation and viral marketing to create consumer demand is a global.

Engineering School here last week.

Excited to send down students and in turns here at the facility. So all in all I think it's just going to be a great magnet for talent for us and I think it is going to blend together really well with our teams in Boston and London and around the world.

Mark Barrocas: Innovation approach that SharkNinja has developed. I think there's a lot of parallels and similarities with that here in New York. I'm actually in New York now. I think from a creative standpoint, there is just a level of creative talent that's exceptional in New York. I think from a design perspective, I think PR, media buying, social media, we'll have a content creator studio that will be here right in Midtown. I think it's exciting that we're actually going to be designing and developing products here in Midtown, Manhattan. I actually had the dean of Columbia Engineering School here last week that was excited to send down students and interns here at the facility. All in all, I think it's just going to be a great magnet for talent for us.

Translatable strategy and we're seeing that in countries around the world.

Very excited about Europe I am.

To just bring together the best and brightest people.

I'm very excited about Latin America, but I'm also excited that we're building and we're continuing to build a strong business in the U K I mean, theres strong nice growth in the U K all continue to reinforce that I think over time, our business in Germany, just because of the market size.

Hey, Praful.

Mark Barrocas: I'm also excited that, you know, we're continuing to build a strong business in the UK, I mean, a strong, nice growth in the UK. I'll continue to reinforce that I think over time, our business in Germany, just because of the market size, you know, will ultimately be bigger than the UK, and France maybe a little bit smaller. For right now, Randy, we're very focused on, you know, the path to getting to 50% of our business outside of the US, and that's kind of the, you know, the short to mid-term immediate target for us.

Follow up would be when you think about the next few years and driving.

Continued international growth, maybe remind us kind of just the way you think about international how big it could be as a proportion of the total business within a few years and where you see the biggest opportunities keep talking about massive.

We will ultimately be bigger than the U K and France, maybe a little bit smaller.

But for right now Randy we're very focused on.

Continued growth in the U K and beyond.

The path to getting to 50% of our business outside of the U S and that's kind of.

And then and then Adam just to follow up on gross margin.

The short to midterm immediate target for us.

Mark Barrocas: I think it's going to blend together really well with our teams in Boston, London, and around the world to just bring together the best and brightest people. Super helpful. I guess my last follow-up would be, when you think about the next few years and driving continued international growth, maybe remind us kind of just the way you think about international and how big it should be as a proportion of the total business within a few years and where you see the biggest opportunities. Keep talking about massive continued growth in the UK and beyond. Adam, just to follow up on gross margin, I think you've talked about there's still ability to kind of bring that further higher in the years ahead.

I think you've talked about there is still ability to kind of bring that further.

Yes on the gross margin front I mean, as you continue to see from US we've expanded gross margin considerably every quarter, thus far and what we're seeing as we move forward is the changes that we're making the structural changes right, we're improving our product costs through value engineering efforts, we are improving our product costs through where we source the product.

Higher in the in the years ahead, maybe talk through some of the puts and takes you think about high level from a gross margin standpoint, I think about the next couple of years. Thanks guys.

Adam Quigley: On the gross margin front, I mean, as you continue to see from us, we've expanded gross margin considerably, you know, every quarter, you know, thus far. What we're seeing, you know, as we move forward is the changes that we're making, they're structural changes, right? We're improving our product costs through value engineering efforts. We're improving the product cost through where we source the product, through the supply chain that we've talked a lot about. Also, we're entering into new categories that are commanding, you know, higher price points that have more structural, higher gross margins. So the durability of our ability to expand gross margin, I think we feel very good about, you know, going into the future because it's really, it's no one thing, it's coming from multiple avenues.

Yeah look on the international side.

I think what's most exciting is that our model.

Supply chain that we've talked a lot about and also we're entering into new categories that are commanding higher price points that have more structural higher gross margins and so the durability of our ability to expand gross margin I think we feel very good about going into the future because it's really it's no one thing it's coming from multiple avenues.

Is replicating globally I mean, let's start with that I mean, if I go back a couple of years ago people would say well yeah.

Europe is so different and so fragmented Latin America, how do you even get to that market is it even accessible to you and I think we've kind of proven out that the model of disruptive consumer focused product innovation and viral marketing that creates consumer demand is a global.

Thanks, guys really appreciate it.

Randal Konik: Thanks, guys. Really appreciate it.

Randy Konik: Thanks, guys. Really appreciate it.

We now have already <unk> parikh with Oppenheimer. Please go ahead.

Mark Barrocas: Maybe talk to some of the puts and takes you think about high level from a gross margin standpoint as we think about the next couple of years. Thanks, guys. Yeah. Look, on the international side, I think what's most exciting is that our model is replicating globally. I mean, let's start with that. I mean, if I go back a couple of years ago, people would say, well, Europe is so different, it's so fragmented. Latin America, how do you even get to that market, is it even accessible to you? I think we've kind of proven out that the model of disruptive consumer-focused product innovation and viral marketing that creates consumer demand is a global, translatable strategy. We're seeing that in countries around the world. I'm very excited about Europe. I'm very excited about Latin America.

Operator: We now have Rupesh Parikh with Oppenheimer. Please go ahead.

Good morning, and thanks for taking my question. So just going back to your commentary on the inventory side. It appears to be in really good shape. I think you had a high single digit growth. This quarter do you believe you have the inventory right now to meet underlying demand or at an even stronger demand out there, but I know at times you guys have been ending inventory constrained in recent quarters.

Translatable strategy and we're seeing that in countries around the world.

Rupesh Parikh: Good morning, thanks for taking my question. Just going back to your commentary on the inventory side, it appears to be in really good shape. I think you had a high single-digit growth this quarter. Do you believe you have the inventory right now to meet, you know, underlying demand or even stronger demand out there? Because I know at times you guys have been inventory constrained in recent quarters.

Very excited about Europe.

I'm very excited about Latin America, but I'm also excited that we're building we're continuing to build a strong business in the UK I mean, there's strong nice growth in the U K all continue to reinforce that I think over time, our business in Germany, just because of the market size.

Yes, thanks for the question in reverse.

I think where we're at with inventory right now as you saw last year, we really leaned into our balance sheet strength and brought in pre built inventory ahead of some of the tariffs coming into place and that served us quite well throughout this year. What you saw in Q3 are growing about 70% year over year as we've got healthy inventory stock we're not.

Adam Quigley: Yeah. Thanks for the question, Rupesh. I think where we're at with inventory right now is you saw last year we really leaned into our balance sheet strength and brought in pre-built inventory ahead of some of the tariffs coming into place, and that served us quite well throughout this year. What you saw in Q3 of growing, you know, about 7, 8% year-over-year is, you know, we've got healthy inventory stock. We're not, you know, in an overstocked position by any means. You know, the stock that we have on hand, we feel good about going into the holiday season. We've talked about some NPDs shifting, you know, in terms of timing and, you know, potentially picking that up in 2026. Overall, heading into the holiday season, I think we feel really good.

We will ultimately be bigger than the U K and France, maybe a little bit smaller.

But for right now Randy we're very focused on.

The path to getting to 50% of our business outside of the U S and thats kind of.

In an overstock position by any means the stock that we have on hand, we feel good about going into the holiday season, we've talked about some npd's shifting in terms of timing and potentially picking that up in 2026, but overall heading into the holiday season, I think we feel really good.

The short to midterm immediate target for us.

Yes on the gross margin front I mean, as you continue to see from US we've expanded gross margin considerably every quarter, thus far and what we're seeing as we move forward is the changes that we're making there structural changes right, we're improving our product costs through value engineering efforts, we are improving our product costs through where we source the product.

Mark Barrocas: I'm also excited that we're continuing to build a strong business in the UK. I mean, there's strong, nice growth in the UK. I'll continue to reinforce that I think over time, our business in Germany, just because of the market size, will ultimately be bigger than the UK, and France may be a little bit smaller. For right now, Randy, we're very focused on the path to getting to 50% of our business outside of the US. That's kind of the short to midterm immediate target for us. Yeah, on the gross margin front, I mean, as you continue to see from us, we've expanded gross margin considerably every quarter thus far. What we're seeing as we move forward is the changes that we're making, they're structural changes, right? We're improving our product costs through value engineering efforts.

Also reflecting on some of the actions that were taken a year ago, feeling really good about that and what's been able to help us on the gross margin front.

Adam Quigley: Also, you know, reflecting on some of the actions that were taken a year ago, feeling really good about that and what it's been able to help us on the gross margin front.

Great and then maybe just a quick follow up question just on the elasticity you're front, we've heard from some players out there just some of the challenges they've had and actually taking price. While you guys have done quite well. So just curious what your what youre seeing from an elasticity perspective, and overall, how you feel about your price gaps.

Rupesh Parikh: Great. Maybe just a quick follow-up question, just on the elasticity front. We've heard from some players out there just, you know, some of the challenges they've had in actually taking price while you guys have done quite well. Just curious what you're seeing from an elasticity perspective and, you know, overall how you feel about your price caps?

Yeah.

Yes.

We've taken price.

Mark Barrocas: Yeah. Rupesh, you know, we've taken price, you know, but we've done it very, very cautiously. I mean, we understand, you know, the consumer is challenged. I mean, we're particularly watching, you know, the impact of the government shutdown. You know, what we've seen to date, is that we're still delivering extraordinary value to the consumer. I mean, we're not the highest priced products in the market. We're not the lowest priced products. You could still buy a Shark or Ninja product for $59 or for $999. I think, you know, we're in all of the key price points that consumers are looking for.

Thanks, guys really appreciate it.

But we've done it very very cautiously I mean, we understand.

We now have a refreshed Paris with opening day Ma'am. Please go ahead.

The consumer is challenged I mean were particularly watching the impact of the government shutdown.

What we've seen to date.

Is that we're still delivering extraordinary value to the consumer I mean, we're not the highest priced products in the market. We're not the lowest priced products you could still buy and sharper ninja product for $59 or for $999. So I think we're in all of the key price points that you can that consumers are <unk>.

Mark Barrocas: We're improving the product costs through where we source the product, through the supply chain that we've talked a lot about. Also, we're entering into new categories that are commanding higher price points that have more structural, higher gross margins. The durability of our ability to expand gross margin, I think we feel very good about going into the future because it's really no one thing. It's coming from multiple avenues. Thanks, guys. Really appreciate it. We now have Rupesh Parekh with Oldton Hema. Please go ahead. Good morning, and thanks for taking my question. Just going back to your commentary on the inventory side, it appears to be in really good shape. I think you had a high single-digit growth this quarter. Do you believe you have the inventory right now to meet underlying demand or even stronger demand out there?

Yes, thanks for the question.

Looking for it.

As long as we continue to maintain market, leading performance and high quality products and still deliver them to consumers at a great value.

Mark Barrocas: As long as we continue to maintain, you know, market-leading performance and high-quality products and still deliver them to consumers at a great value, I think that'll work out fine for us.

I think that will work out fine for us.

And in an overstock position by any means the stock that we have on hand, we feel good about going into the holiday season, we've talked about some NPD is shifting in terms of timing and potentially picking that up in 2026, but overall heading into the holiday season, I think we feel really good.

Great. Thank you.

Rupesh Parikh: Great. Thank you.

We now have.

Ken could Jonathan your line is open.

Operator: We now have Brian McNamara with Canaccord Genuity. Your line is open.

Hey, good morning, guys. Thanks for taking our questions.

Mark Barrocas: Because I know at times you guys have been inventory constrained in recent quarters. Yeah. Thanks for the question, Rupesh. I think where we're at with inventory right now is you saw last year we really leaned into our balance sheet strength and brought in pre-built inventory ahead of some of the tariffs coming into place. That's served us quite well throughout this year. What you saw in Q3 of growing about 7%, 8% year over year is we've got healthy inventory stock. We're not in an overstocked position by any means. The stock that we have on hand, we feel good about going into the holiday season. We've talked about some NPDs shifting in terms of timing and potentially picking that up in 2026. Overall, heading into the holiday season, I think we feel really good.

Brian McNamara: Hey, good morning, guys. Thanks for taking our questions. There was a lot of concern from investors for the last several weeks heading into this trend, pretty much all of which has kind of proven unfounded with these results and guidance. A number of your competitors have reported much weaker results, and one common headwind has been kind of retailer inventory levels. You had a European competitor profit warn last month and called out US retailers, quote-unquote, wait and see attitude, while a US competitor last week called out a retailer inventory adjustment in Q3 as kind of higher inventory values due to tariffs were absorbed by the market. I'm just curious how your business was impacted by these market dynamics. Thanks.

Also reflecting on some of the actions that were taken a year ago, feeling really good about that and what it's been able to help us on the gross margin front.

So there was a lot of concern from investors for the last several weeks heading into this trend pretty much all of which was kind of proven unfounded with these results and guidance.

Great and then maybe just a quick follow up question just on the elasticity front, we've heard from some players out there just you know some of the challenges they've had and actually taking price. While you guys have done quite well. So just curious what youre, what youre seeing from an elasticity perspective, and overall, how you feel about your price gaps.

Number of your competitors have reported much weaker results on one common headwind has been kind of retailer inventory levels. So you had a European competitor profit warned last month.

Called out U S retailers quote unquote wait and see attitude, while U S competitor last week called out a retailer inventory adjustment in Q3 is kind of higher inventory values of the tariffs were absorbed by the market. So I'm just curious how your business was impacted by these market dynamics. Thanks.

Yeah.

Yes.

We've taken price.

But we've done it very very cautiously I mean, we understand.

The consumer is challenged I mean were particularly watching the impact of the government shutdown and.

Yeah, Brian I mean, I guess on your first point.

Mark Barrocas: Yeah, Brian, I mean, I guess on your first point, you know, we've delivered 10 consecutive quarters of double-digit top and bottom line growth since we've been a US public company, so I can't speak to what investor concerns, you know, were specifically. as it relates to retailer inventory, yeah, I mean, we're experiencing good retailer support. I mean, I think the retailers are leaning in with SharkNinja. I think they believe in our innovation. I think they believe in the demand generation that we're gonna bring to them. I mean, there are, of course, situations where maybe there isn't the inventory levels that we'd like them to be. I think we distribute through lots of different channels, I mean, from, you know, dot com to brick-and-mortar to D2C.

We've we've delivered 10 consecutive quarters of double digit top and bottom line growth since we've been a U S public company, So I can't speak to.

Mark Barrocas: Also reflecting on some of the actions that were taken a year ago, feeling really good about that and what it's been able to help us on the gross margin front. Great. Maybe just a quick follow-up question. Just on the elasticity front, we've heard from some players out there just some of the challenges they've had in actually taking price while you guys have done quite well. Just curious what you're seeing from an elasticity perspective and overall how you feel about your price gaps. Yeah. Rupesh, we've taken price, but we've done it very, very cautiously. I mean, we understand. The consumer is challenged. I mean, we're particularly watching the impact of the government shutdown. What we've seen to date is that we're still delivering extraordinary value to the consumer. I mean, we're not the highest-priced products in the market.

What we've seen to date.

What investor concerns were specifically.

As it relates to retailer inventory.

Yeah, I mean, we're experiencing good retailer support I mean, I think the retailers are leaning in with shark Ninja I think they believe in our innovation I think they believe in the.

Looking for it.

As long as we continue to maintain market, leading performance and high quality products and still deliver them to consumers at a great value.

The demand generation that we're going to bring to them I mean, there are of course situations where.

I think that will work out fine for us.

Maybe there isn't the inventory levels that we'd like them to be.

Great. Thank you.

We distribute through lots of different channels, I mean from dot com to brick and mortar to D to C. Our job is just to make sure that our innovation is able to be purchased by consumers. When we create the demand for it and we love full retailer participation.

We now have.

No matter that with Canaccord Genuity your line is open.

Hey, good morning, guys. Thanks for taking our questions.

Mark Barrocas: You know, our job is just to make sure that our innovation is able to be purchased by consumers when we create the demand for it. You know, we love full retailer participation. In some cases, we get it, in some cases, we don't get it, but, you know, we still have to, you know, drive demand and fulfill orders for consumers.

Mark Barrocas: We're not the lowest-priced products. You could still buy a Shark or Ninja product for $59 or for $999. I think we're in all of the key price points that consumers are looking for. As long as we continue to maintain market-leading performance and high-quality products and still deliver them to consumers at a great value, I think that'll work out fine for us. Great, thank you. We now have Brian McNamara with Canaccord Genuity. Your line is open. Hey, good morning, guys. Thanks for taking our questions. There was a lot of concern from investors for the last several weeks heading into this print, pretty much all of which has kind of proven unfounded with these results and guidance. A number of your competitors have reported much weaker results, and one common headwind has been kind of retailer inventory levels.

So there was a lot of concern from investors for the last several weeks heading into this trend pretty much all of which was kind of proven unfounded with these results and guidance.

In some cases, we get it in some cases, we don't get it but you know.

Number of your competitors have reported much weaker results on one common headwind has been kind of retailer inventory levels. So you had a European competitor profit warn last month at <unk>.

We still have to.

Drive demand and fulfill.

Fulfill orders for consumers.

Called out U S retailers quote unquote wait and see attitude, while U S competitor last week called out a retailer inventory adjustment in Q3 is kind of higher inventory values due to tariffs were absorbed by the market. So I'm just curious how your business was impacted by these market dynamics. Thanks.

That's helpful.

Obviously that.

Brian McNamara: That's helpful. I don't wanna obviously-

Got it.

Adam Quigley: maybe just add one thing I'll add to that.

And Brian I was just going to mention too I think one of the things that we can point to is our Q4 guidance is sort of the confidence that we have.

Adam Quigley: maybe just add one thing I'll add to that.

Brian McNamara: Go ahead.

Adam Quigley: Brian, I was just gonna mention, too, I think, you know, one of the things that we can point to is our Q4 guidance is sort of, you know, the confidence that we have in the retail orders that are ahead. You know, I think you're seeing that reflected, you know, also in what we've put out today.

In the retail orders that are ahead, and so I think youre seeing that reflected.

And what we've put out today.

Yeah, Brian I mean, I guess on your first point.

Great and then secondly, obviously I don't want to frontline your 2026 guidance, but you've consistently said there are double digit growth company is that a reasonable expectation for the top line next year.

We've we've delivered 10 consecutive quarters of double digit top and bottom line growth since we've been a U S public company, So I can't speak to.

Brian McNamara: Great. Secondly, obviously, I don't want to front-load your 2026 guidance. You've consistently said you're a double-digit growth company. Is that a reasonable expectation for the top line next year?

What investor concerns were specifically.

Yeah, I think as we as we go forward, we're continuing to be very proud of where we're going to land in 2025, we're not in a position right now to give any guidance on 2026, but I think we've got a really incredible Q3 that we have.

As it relates to retailer inventory.

Mark Barrocas: You had a European competitor profit warned last month and called out US retailers' wait and see attitudes, while a US competitor last week called out a retailer inventory adjustment in Q3 of kind of higher inventory values due to tariffs were absorbed by the market. I'm just curious how your business was impacted by these market dynamics. Thanks. Yeah, Brian. I guess on your first point, we've delivered 10 consecutive quarters of double-digit top and bottom line growth since we've been a US public company. I can't speak to what investor concerns were specifically. As it relates to retailer inventory, we're experiencing good retailer support. I think the retailers are leaning in with SharkNinja. I think they believe in our innovation. I think they believe in the demand generation that we're going to bring to them.

Adam Quigley: Yeah. I mean, as I think as we go forward, you know, we're continuing to, you know, be very proud of where we're gonna land in 2025. You know, we're not in a position right now to give any guidance on 2026. You know, I think we've got a really, you know, incredible Q3 that we've just put out today, and I think we're really excited about Q4.

Yeah, I mean, we're experiencing good retailer support I mean, I think the retailers are leaning in with shark Ninja I think they believe in our innovation I think they believe in the.

Just put out today and I think we're really excited about Q4.

The demand generation that we're going to bring to them I mean, there are of course situations where.

Thanks, guys appreciate it.

Maybe there isn't the inventory levels that we'd like them to be.

Thank you.

Brian McNamara: Thanks, guys. Appreciate it.

Your next question comes from Steven Forbes with Guggenheim Securities.

Mark Barrocas: Thank you.

Operator: Your next question comes from Steven Forbes with Guggenheim Securities. Please go ahead when you're ready.

Please go ahead when you're ready.

Hey, Mark Hey, Adam.

Maybe just a follow up on international.

Steven Forbes: Hey, Mark. Hey, Adam. Maybe just a follow-up.

Let me just follow up on international expansion.

Mark Barrocas: Hey, Steve.

Steven Forbes: International... Let me just follow up on international expansion. You know, as we look out sort of over the next couple of quarters here, I was hoping maybe for a formal update on the transitions of the international markets from third-party distribution to self-distribution. I don't know if you can give us maybe a roadmap to think through. You know, maybe broader comments on how has the risk parameters of that transition period changed? I mean, you know, we're coming off right from the Mexico transition. I think you talked about some optimism on a smoother transition ahead. Maybe just would love to hear your most updated thoughts as we look ahead to those transitions.

As we as we look out sort of over the next couple of quarters here I was hoping maybe for a formal update.

In some cases, we get it in some cases, we don't get it but.

On.

The transitions of the international markets from third party distribution to self distribution I don't know if you can give us maybe a roadmap.

We still have to.

Drive demand and fulfill.

To think through and then.

Fulfill orders for consumers.

Maybe broader comments on.

That's helpful.

How has the risk parameters of that transition period change I mean, we're coming off right. The Mexico transition that you talked about.

Mark Barrocas: I mean, there are, of course, situations where maybe there isn't the inventory levels that we'd like them to be. I think we distribute through lots of different channels, from dot com to brick and mortar to D2C. Our job is just to make sure that our innovation is able to be purchased by consumers when we create the demand for it. We'd love full retailer participation. In some cases, we get it. In some cases, we don't get it. We still have to drive demand and fulfill orders for consumers. That's helpful. I don't want to obviously—go ahead. Brian, I was just going to mention too, I think one of the things that we can point to is our Q4 guidance is sort of the confidence that we have in the retail orders that are ahead.

Obviously that.

Got it.

And Brian I was just going to mention too I think one of the things that we can point to is our Q4 guidance is sort of the confidence that we have.

Some optimism amongst smoker transition ahead, so maybe just would love to hear your most updated thoughts as we look ahead to those transitions.

In the retail orders that are ahead, and so I think youre seeing that reflected.

Yeah, Steve I mean.

And what we've put out today.

I think the biggest as we talked about on previous calls I mean, I think the biggest learning was.

Mark Barrocas: Yeah, Steven. You know, as we talked about on previous calls, I mean, I think the biggest learning was, you know, not to approach these things from a big bang perspective. That in each market, you know, likely there is a role for a distributor, you know, particularly in countries that do have a sizable amount of small retailers that maybe it's just not in our best interest to be working with on a direct basis. I mean, you take a country like Spain, you know, there's 4 major retailers that we're gonna work with, but there's a whole lot of other retailers that we might be better off just being serviced by a distributor. I think that's more of the model that we're moving towards.

Great and then secondly, obviously I don't want to frontline, where 2026 guidance, but you've consistently said there are double digit growth company is that a reasonable expectation for the top line next year.

Not to approach these things from a big Bang perspective.

And each market likely there is a role for a distributor.

Yes, I mean, I think as we as we go.

Particularly in countries that do have a sizable amount of small retailers that maybe it's just not in our best interest to be working with on a direct basis I mean, you take a country like Spain.

Go forward, we are continuing to be very proud of where we're going to land 2025, we're not in a position right now to give any guidance on 2026, but I think we've got a really incredible Q3 that we just put out today and I think we're really excited about Q4.

There's four major retailers that we're going to work with but theres a whole lot of other retailers that we might be better off just being serviced by a distributor and so I think that's more of the model that we're moving towards.

Thanks, guys appreciate it.

Mark Barrocas: I think you're seeing that reflected also in what we put out today. Great. Secondly, obviously, I don't want to front-run your 2026 guidance, but you consistently said you're a double-digit growth company. Is that a reasonable expectation for the top line next year? Yeah. I mean, I think as we go forward, we're continuing to be very proud of where we're going to land in 2025. We're not in a position right now to give any guidance on 2026. I think we've got a really incredible Q3 that we've just put out today, and I think we're really excited about Q4. Thanks, guys. Appreciate it. Thank you. Your next question comes from Stephen Forbes with Guggenheim Securities. Please go ahead when you're ready. Hey, Mark. Hey, Adam. Maybe just a follow-up on international. Maybe just follow up on international expansion.

Thank you.

Your next question comes from Steven Forbes with Guggenheim Securities.

Youre going to see that in the Nordics youre going to see that in Poland, Youre going to see that in Spain, and Italy are likely see that in some countries in South America, So I think that.

Please go ahead when you're ready.

Mark Barrocas: You're gonna see that in the Nordics. You know, you're gonna see that in Poland. You're gonna see that in Spain and Italy, likely see that in some countries in South America. I think that it shouldn't be kind of an event situation. I think you should see it as more of a, you know, kinda just an ongoing, smoother transition as we take over some of the larger retailer relationships, and continue to partner with distributors to reach the, you know, secondary and tertiary retailers in the market.

Hey, Mark Hey, Adam.

Maybe just a follow up.

International.

Maybe just a follow up on international expansion.

It shouldn't be kind of an event situation I think you should see it as more of.

As we as we look out sort of over the next couple of quarters here I was hoping maybe for a formal update.

On.

Kind of just an ongoing smoother transition as we take over some of the larger retailer relationships and.

The transitions of the international markets from third party distribution to self distribution I don't know if you can give us maybe a roadmap.

To think through and then.

And continue to partner with distributors to reach the secondary and tertiary retailers in the market.

Maybe broader comments on.

How has the risk parameters of that transition period change I mean, we're coming off right. The Mexico transition that you talked about.

Okay.

And then just a quick follow up I don't know if you can provide a formal update on the path to becoming a domestic filer.

Some optimism amongst smoker transition ahead, so maybe just would love to hear your most updated thoughts as we look ahead through those transitions.

Steven Forbes: Just a quick follow-up. I don't know if you can provide maybe a formal update on the path to becoming a domestic filer. It seems to be a point of interest from investors. I don't know if there's a formal statement that you guys can provide.

It seems to be a point of interest from your from investors. So I don't know if theres a foremost commit that you guys can provide.

Yeah, Steve I mean.

I think the biggest as we talked about on previous calls I mean, I think the biggest learning was.

Mark Barrocas: As we look out over the next couple of quarters here, I was hoping maybe for a formal update on the transitions of the international markets from third-party distribution to self-distribution. I don't know if you can give us maybe a roadmap to think through. Maybe broader comments on how the risk parameters of that transition period have changed. I mean, we're coming off the Mexico transition. I think you talked about some optimism on a smoother transition ahead. I would love to hear your most updated thoughts as we look ahead to those transitions. Yeah, Steve, I mean, I think the biggest, as we talked about on previous calls, I think the biggest learning was not to approach these things from a big bang perspective, that in each market, likely there is a role for a distributor.

As as we look ahead to 2026, we have officially failed the foreign private issuer test and so certainly making our way forward as a domestic filer.

Not to approach these things from a big Bang perspective.

Adam Quigley: You know, as we look ahead to 2026, you know, we have officially, you know, failed the foreign private issuer test. You know, certainly making our way forward as a domestic filer, and that'll occur in 2026. Yeah, on track on that front is what we've said before.

That in each market likely there is a role for a distributor.

Particularly in countries that do have a sizable amount of small retailers that maybe it's just not in our best interest to be working with on a direct basis I mean, you take a country like Spain.

Occur in 2026, so on track on that front, what we've said before.

Thank you I'll pass it on.

Yeah.

Steven Forbes: Thank you. I'll pass it on.

We have affiliate play with William Blair Your.

Your line is open.

Operator: We have Phillip Blee with William Blair now. Your line is open.

Okay.

Mark Adam Adam Congrats on the new role.

Phillip Blee: Morning, Mark, Adam. Adam, congrats on the new role.

Thank you I wanted to focus on the beauty space a bit more can you maybe provide a bit of color around the consumer response to all the newness, we released in hair and skin over the past few months, what kind of lift that could have during this holiday season is a bit more giftable option and then what's the opportunity to expand the availability of <unk>.

Mark Barrocas: Thank you.

Phillip Blee: I wanted to focus on the beauty space a bit more. Can you maybe provide a bit of color around the consumer response to all the newness you've released in hair and skin over the past few months, what kind of lift that could have during this holiday season as a more giftable option, and what's the opportunity to expand the availability of your skin assortment to retail partners beyond just the specialty beauty space? Thank you.

Youre going to see that in the Nordics youre going to see that in Poland, Youre going to see that in Spain, and Italy are likely see that in some countries in South America, So I think that.

It shouldn't be kind of an event situation I think you should see it as more of.

Your skin assortment to retail partners beyond just the specialty beauty space. Thank you.

Mark Barrocas: Particularly in countries that do have a sizable amount of small retailers that maybe it's just not in our best interest to be working with on a direct basis. I mean, you take a country like Spain. There are four major retailers that we're going to work with, but there's a whole lot of other retailers that we might be better off just being serviced by a distributor. I think that's more of the model that we're moving towards. You're going to see that in the Nordics, you're going to see that in Poland, you're going to see that in Spain and Italy, and likely see that in some countries in South America. I think that it shouldn't be kind of an event situation. I think you should see it as more of a.

Kind of just an ongoing smoother transition as we take over some of the larger retailer relationships and.

Yeah. Thanks, Joe.

Really excited about what we're doing in beauty.

Mark Barrocas: Yeah. Thanks, Phillip. Look, we're really excited about what we're doing in beauty, you know, both in hair and in skin, and what that potentially opens up for us to other categories in beauty. You know, this will be the first holiday selling season for CryoGlow, in the United States and most of Europe, so, you know, we're excited about that. We're seeing great momentum. It's the number one selling skincare beauty device in the US in just a very short period of time. You know, we just launched a product called the Shark FacialPro Glow. You know, we think it's off to a great start. It won't have broad distribution in Q4, but we think it will as we start to roll it out into Q1 and Q2 and beyond.

And continue to partner with distributors to reach the secondary and tertiary retailers in the market.

And here and in skin and what that potentially opens up for us through other categories in beauty.

This will be the first holiday selling season for cryo glow.

Okay.

And then just a quick follow up.

In the United States and most of Europe. So we're excited about that we're seeing great momentum.

I don't know if you can provide a formal update on the path to becoming a domestic filer.

Number one selling skin care beauty device in the U S and just a very short period of time.

It seems to be a point of interest from your from investors. So I don't know if theres a foremost commit that you guys can provide.

We just launched a product called Sharq facial pro Glo.

We think it's off to a great start we won't have broad distribution in Q4.

As as we look ahead to 2026, we have officially failed the foreign private issuer test and so certainly making our way forward as a domestic filer.

Mark Barrocas: Kind of just an ongoing smoother transition as we take over some of the larger retailer relationships and continue to partner with distributors to reach the secondary and tertiary retailers in the market. Just a quick follow-up. I don't know if you can provide maybe a formal update on the path to becoming a domestic filer. It seems to be a point of interest from investors. I don't know if there's a formal statement that you guys can provide. As we look ahead to 2026, we have officially failed the foreign private issuer test. Certainly making our way forward as a domestic filer, and that'll occur in 2026. Yeah, on track on that front to what we've said before. Thank you. I'll pass it on. We have Philip Blee with William Blair now. Your line is open. Morning, Mark, Adam.

But we think it will as we start to roll it out into Q1, and Q2 and beyond I think what's exciting about that product is the replenishment topical that is sold with it I mean, we develop that.

Will occur in 2026, so on track on that front, what we've said before.

Mark Barrocas: I think what's exciting about that product is the replenishment topical that is sold with it. I mean, we developed that, you know, with this Korean formulation company. I'm excited that, you know, we're not just selling a product, but we're selling a system that the consumer will kind of ongoing engage with us. In the haircare space, we've got a lot of new innovation and technology happening, not just with what we launched today, but the pipeline of what's to come moving forward. You know, I don't view it as that we're only looking at the beauty business to sell that in the prestige, you know, retailers. I think you're gonna see broadened retail distribution from us. I mean, we wanna be able to positively impact everyone. We think everyone should feel beautiful with our hair care products and our skincare products.

Thank you I'll pass it on.

With this Korean formulation company. So I'm excited that we're not just selling a product, but we're selling a system that the consumer will kind of ongoing engage with us.

We have affiliate Breen with William Blair Your.

Your line is open.

Okay.

And the hair care space, we've got a lot of new innovation and technology happening not just with what we launched today, but the pipeline of what's to come moving forward.

Mark Adam Adam Congrats on the new role.

Thank you I wanted to focus on the beauty space a bit more can you maybe provide a bit of color around the consumer response to all the newness you released in hair and skin over the past few months, what kind of lift that could have during this holiday season is a more giftable option and then what's the opportunity to expand the availability of <unk>.

I don't view it as that we're only looking at the beauty business to sell that in the prestige retailers.

Youre going to see broadened retail distribution from us I mean, we want to be able to positively impact everyone. We.

Your skin assortment to retail partners beyond just the specialty beauty space. Thank you.

We think everyone should feel beautiful with our hair care products in our skincare products. So I think youll continue to see broader distribution as we get into 'twenty six but.

Yeah. Thanks, Joe.

Really excited about what we're doing in beauty.

Mark Barrocas: You know, I think you'll continue to see broader distribution as we get into 2026, but we're in very much our early stages in the expansion of our overall beauty business.

<unk> been here and in skin and what that potentially opens up for us through other categories in beauty.

We're in very much are early stages in the expansion of our overall beauty business.

Mark Barrocas: Adam, congrats on the new role. Thank you. I wanted to focus on the beauty space a bit more. Can you maybe provide a bit of color around the consumer response to all the newness you've released in hair and skin over the past few months? What kind of lift that could have during this holiday season as a more giftable option? What's the opportunity to expand the availability of your skin assortment to retail partners beyond just the specialty beauty space? Thank you. Yeah. Thanks, Philip. Look, we're really excited about what we're doing in beauty, both in hair and in skin, and what that potentially opens up for us through other categories in beauty. This will be the first holiday selling season for Cryo Glow in the United States and most of Europe. We're excited about that. We're seeing great momentum.

This will be the first holiday selling season for cryo glow.

Okay, Great. That's Super helpful. And then just now that a lot of this accelerated supply chain diversification efforts are behind you and inventory levels seem to be in good shape. How do you think about the potential to accelerate the category availability in international markets more in line with what's available here in the U S and then what kind of.

Phillip Blee: Okay. Great. That's super helpful. Just now that a lot of this accelerated supply chain diversification efforts are behind you and inventory levels seem to be in good shape, how do you think about the potential to accelerate the category availability in international markets more in line with what's available here in the US? What kind of lift could that have on the segment? Thank you, guys.

In the United States and most of Europe. So we're excited about that we're seeing great momentum with the number one selling skin care beauty device in the U S and just a very short period of time.

Just launched a product called Sharq facial pro Glo.

Lift could that have on the segment. Thank you guys.

We think it's off to a great start we won't have broad distribution in Q4, but we think it will as we start to roll it out into Q1, and Q2 and beyond I think what's exciting about that product is the replenishment topical that is sold with it I mean, we develop that.

Yeah, Philip I think.

Mark Barrocas: Yeah. You know, Phillip, I think, you know, inventory and our global sourcing model, you know, obviously has impacted our ability to roll out as fast as we want or fulfill, you know, as much demand as we wanted to globally. I think there's another constraint also that we've talked about, which is marketing, and just, you know, being able to invest a sufficient amount of marketing on each category to be able to get a foothold in these new markets. I mean, let's not forget, like three years ago, you know, a German consumer didn't know who Shark or Ninja was, you know, and there was no German consumer that had our products in their homes. There's still a lot of brand building that's needed.

Inventory and our global sourcing model, obviously has impacted our ability to rollout as fast as we want or fulfill as much demand as we wanted to globally, but I think theres. Another constraint also that we've talked about which is marketing.

With this Korean formulation company. So I'm excited that we're not just selling a product, but we're selling a system that the consumer will kind of ongoing engage with us.

Being able to invest a sufficient around marketing on each category to be able to get a foothold in these new markets I mean, let's not forget like three years ago with German consumer it didn't know who's shark Ninja was there was there a German consumer that had our products in their homes and so theres still a lot of.

And the hair care space, we've got a lot of new innovation and technology happening.

Mark Barrocas: It's the number one selling skincare beauty device in the US in just a very short period of time. We just launched a product called the Shark Facial Pro Glow. We think it's off to a great start. It won't have broad distribution in Q4, but we think it will as we start to roll it out into Q1, Q2, and beyond. I think what's exciting about that product is the replenishment topical that is sold with it. I mean, we developed that with this Korean formulation company. I'm excited that we're not just selling a product, but we're selling a system that the consumer will kind of ongoing engage with us. In the hair care space, we've got a lot of new innovation and technology happening, not just with what we launched today, but the pipeline of what's to come moving forward.

Not just with what we launched today, but the pipeline of what's to come moving forward.

I don't view it as that we are only looking at the beauty business to sell that in the prestige retailers.

Brand building that's needed I mean, there's still a lot of education that we need to do and a lot of these markets. So supply chain is a component of it but I almost see marketing as an equal or bigger component of it and it's just going to take us some time as we are.

Mark Barrocas: I mean, there's still a lot of education that we need to do in a lot of these markets. Supply chain is a component of it. I almost see marketing as, you know, an equal or bigger component of it. It's just gonna take us some time as we move forward. Really, I don't wanna make the mistake of pushing too far too fast and, you know, not being able to support it properly from a marketing standpoint.

I think youre going to see broadened retail distribution from us I mean, we want to be able to positively impact everyone.

Everyone should feel beautiful with our hair care products in our skincare product so.

Move forward and really I don't want to make the mistake of pushing too far too fast.

I think youll continue to see broader distribution as we get into 'twenty six.

But.

We're in very much are early stages in the expansion of our overall beauty business.

And I'm.

Not being able to support it properly from a marketing standpoint.

Okay great.

Makes sense excellent best of luck.

Super Helpful. And then just now that a lot of this accelerated supply chain diversification efforts are behind you and inventory levels seem to be in good shape. How do you think about the potential to accelerate the category availability in international markets more in line with what's available here in the U S. And then what kind of lift could that have on the segment. Thank you guys.

Phillip Blee: Makes sense. Excellent. Best of luck. Thanks.

Thanks.

We have Andrea Teixeira with J P. Morgan now you May proceed with your question.

Mark Barrocas: I don't view it as that we're only looking at the beauty business to sell that in the prestige retailers. I think you're going to see broadened retail distribution from us. I mean, we want to be able to positively impact everyone. We think everyone should feel beautiful with our hair care products and our skincare products. I think you'll continue to see broader distribution as we get into 2026. We're in very much our early stages in the expansion of our overall beauty business. Okay. Great. That's super helpful. Now that a lot of this accelerated supply chain diversification efforts are behind you and inventory levels seem to be in good shape, how do you think about the potential to accelerate the category availability in international markets more in line with what's available here in the US?

Operator: We have Andrea Teixeira with J.P. Morgan now. You may proceed with your question.

Thank you operator, and good morning, everyone.

Congrats Adam on them on that promotion.

Andrea Teixeira: Thank you, operator, and good morning, everyone. Congrats, Adam, on the promotion. I wanted to go back, Mark, with the commentary because you did say in the beginning of September at a competitor conference that some of the inventory may have slipped through into the Q4. You also mentioned some of the innovation also that had been planned for 2025 could come to fruition in 2026. I was just hoping to see if, one, that concern that some of the shipments would shift into the Q4 actually did not materialize at the end of the quarter. In other words, you don't have that benefit potentially in the Q4.

I wanted to go back Mark with the commentary because you did say in the beginning of September competitive conference that some of the inventory may have slipped through.

Yeah, Philip I think.

Into the fourth quarter and you also mentioned some of the innovation also that had been planned for.

For 2025 could come to fruition in 2026, So I was just hoping to see if one.

And just being able to invest a sufficient around marketing on each category to be able to get a foothold in these new markets I mean, let's not forget like three years ago.

That.

Concern that some of the shipments would shift into 'twenty into the fourth quarter actually did not materialize at the end of the quarter.

And consumer didn't know who's shark Ninja was and there was no German consumer that had our products in their homes and so theres still a lot of brand building that's needed I mean, there's still a lot of education that we need to do and a lot of these markets. So supply chain is a component of it but I almost see marketing as an equal or bigger.

Other words, you don't have that benefit potentially in the fourth quarter.

Mark Barrocas: What kind of lift could that have on the segment? Thank you, guys. Yeah. Philip, I think inventory and our global sourcing model obviously has impacted our ability to roll out as fast as we want or fulfill as much demand as we wanted to globally. I think there's another constraint also that we've talked about, which is marketing, and just being able to invest a sufficient amount of marketing on each category to be able to get a foothold in these new markets. I mean, let's not forget, three years ago, a German consumer didn't know who Shark or Ninja was, and there was no German consumer that had our products in their homes. There's still a lot of brand building that's needed. I mean, there's still a lot of education that we need to do in a lot of these markets.

Obviously, we can do the math, but if you just want to figure how consumption and and shipments dynamics are unfolding and inventory levels.

Andrea Teixeira: Obviously, we can do the math, but we just wanna figure how consumption and shipments dynamics are unfolding in inventory levels. If you think on the innovation, obviously you have announced a very strong pipeline now, but just wondering how that pipeline compares with when you started the year or as it unfolded and how it sets you for 2026? Thank you.

And then if you think on the innovation, obviously, you have announced a very strong pipeline now, but just wondering how that top line compares what we win.

<unk> of it and it's just going to take us some time as we.

Move forward and really I don't want to make the mistake of pushing too far too fast.

They started the year or as they don't folded and how it is that for 2026. Thank you.

And I'm.

Not being able to support it properly from a marketing standpoint.

Yeah.

Andrea Let me take the question around Q3, and Q4 and some of the retailers shipment timing I think every year at this time.

Makes sense excellent best of luck.

Adam Quigley: Andrea, let me take the, you know, question around Q3 and Q4 and some of the retailer shipment timing. I think, you know, every year at this time, you know, we're actively watching and monitoring daily, you know, what inventory, you know, patterns are and what the retailer, you know, shipments are. You know, as the retailers ramp up for the holiday season, and we also ramp up our inventory for the holiday season, that Q3, Q4 timing is often quite tricky. I will say our sales and operations team did an incredible job to really, you know, get as much out as we could, you know, with the retail orders that we had.

Thanks.

We're actively watching and monitoring daily.

We have Andrea Teixeira with J P. Morgan now you May proceed with your question.

What inventory patterns are and what the retailer shipments are.

Thank you operator, and good morning, everyone.

No.

Congrats Adam on them on that promotion.

The retailers ramp up for the holiday season, and we also ramp up our inventory for the holiday season that Q3, Q4 timing is often quite quite tricky I will say, our sales and operations team did an incredible job to really.

Mark Barrocas: Supply chain is a component of it, but I almost see marketing as an equal or bigger component of it. It's just going to take us some time as we move forward. I really don't want to make the mistake of pushing too far too fast. Not being able to support it properly from a marketing standpoint makes sense. Excellent. Thanks a lot. Thanks. We have Andrea Teixeira with JPMorgan now. You may proceed with your question. Thank you, Operator, and good morning, everyone. Congrats, Adam, on the promotion. I wanted to go back, Mark, with the commentary because you did say in the beginning of September at a competitor conference that some of the inventory may have slipped through into the fourth quarter. You also mentioned some of the innovation that had been planned for 2025 could come to fruition in 2026.

I wanted to go back Mark with the commentary because you did say in the beginning of September competitive confidence that some of the inventory may have slipped through.

Get as much out as we could.

Into the fourth quarter and you also mentioned some of the innovation also that had been planned for.

The retailer orders that we had and I think one of the items that Mark mentioned earlier in the call was retailers really viewers quite favorably right now and we know we're operating in an uncertain consumer environment and that retailers, we can't speak for them, but theyre going to make their own choices and theyre going to make their own bets across who they are buying inventory from and when and I think we've positioned ourselves.

Adam Quigley: I think, you know, one of the items that Mark mentioned earlier in the call was, you know, retailers really, you know, view us quite favorably right now. We know we're operating in an uncertain consumer environment, and that retailers, we can't speak for them, but they're gonna make their own choices, and they're gonna make their own bets across who they're buying inventory from and when. I think we've positioned ourselves, you know, really well for them to prioritize us because they know that we're gonna stand behind the products. They know that, you know, we're investing behind the brand and the products that we're launching, and I think, you know, they're looking to win in Q4 with us.

For 2025 could come.

Come to fruition in 2020 six so I was just hoping to see if one.

That.

Concern that some of the shipments would shift into 'twenty into the fourth quarter actually did not materialize at the end of the quarter.

You know really well for them to prioritize us because.

Because they know that we're going to stand behind the products. They know that we're investing behind the brand and the products that we're launching in I think.

In other words, you don't have that benefit potentially in the fourth quarter. Obviously, we can do the math, but we just want to figure how consumption and.

We're looking to win in Q4 with us.

Yes in terms of the innovation.

And shipments dynamics are unfolding and inventory levels.

Mark Barrocas: Yeah. In terms of the innovation, listen, I think we feel very good about the pipeline of what we've developed across lots of different categories. As I said earlier, you know, I think we're doing a really good job of innovating in the base. That's something that I really wanna reinforce to investors because, you know, we have a great healthy base business, which is, you know, the foundation of the overall, you know, business that we've created. You know, things like Ninja BlendBOSS and things like Ninja CRISPi PRO and things like, you know, improvements to our core vacuum business, you know, those are all, I think, really, really exciting that maybe do not get, you know, some of the fanfare out there that they should.

I think we feel very good about the pipeline of what.

And then if you think on the innovation, obviously you have.

What we've developed across lots of different categories and as I said earlier.

It's all a very strong pipeline now, but just wondering how that top line compares what we win.

I think we're doing a really good job of innovating in the base and that's something that I really want to reinforce to investors because.

Mark Barrocas: I was just hoping to see if, one, that concern that some of the shipments would shift into the fourth quarter actually did not materialize at the end of the quarter. In other words, you do not have that benefit potentially in the fourth quarter. Obviously, we can do the math, but we just want to figure how consumption and shipments dynamics are unfolding, and inventory levels. If you think on the innovation, obviously, you have announced a very strong pipeline now, but just wondering how that pipeline compares when you started the year or as it unfolded and how it has set you for 2026. Thank you. Andrea, let me take the question around Q3 and Q4 and some of the retailer shipment timing. I think every year at this time, we are actively watching and monitoring daily what inventory patterns are and what the retailer shipments are.

We started the year or as they don't folded and how it is that for 2026. Thank you.

We have a great healthy base business, which is the foundation of the overall.

Andrea Let me take the question around Q3, and Q4 and some of the retailers shipment timing I think every year at this time.

Is this that we've created so.

Things like blend boss in things like Christi Pro and things like you know improvements.

Actively watching and monitoring daily.

Improvements to our core vacuum business.

What inventory patterns are and what the retailer shipments are.

Those are all I think really really exciting that maybe do not yet.

So.

Some of the fanfare out there that they should.

The retailers ramp up for the holiday season, and we also ramp up our inventory for the holiday season that Q3, Q4 timing is often quite quite tricky.

Thank you I can confirm that does conclude the question and answer session.

I'll say, our sales and operations team did an incredible job to really.

James Lamb: Thank you. I can confirm that does conclude the question and answer session here, and that does conclude today's call. Thank you all for your participation. You may now disconnect, and please enjoy the rest of your day.

Operator: Thank you. I can confirm that does conclude the question and answer session here, and that does conclude today's call. Thank you all for your participation. You may now disconnect, and please enjoy the rest of your day.

Get as much out as we could with the retailer orders that we had and I think one of the items that Mark mentioned earlier in the call was retailers really viewers quite favorably right now and we know we're operating in an uncertain consumer environment and that retailers, we can't speak for them, but theyre going to make their own choices and theyre going to make their own bets across who they are buying inventory from <unk>.

This concludes today's call. Thank you for your participation you may now disconnect. Please enjoy the rest of your day.

And I think we've positioned ourselves really well for them to prioritize us.

Because they know that we're going to stand behind the products. They know that we're investing behind the brand and the products that we're launching in I think.

Mark Barrocas: As the retailers ramp up for the holiday season and we also ramp up our inventory for the holiday season, that Q3, Q4 timing is often quite tricky. I will say our sales and operations team did an incredible job to really get as much out as we could with the retail orders that we had. I think one of the items that Mark mentioned earlier in the call was retailers really view us quite favorably right now. We know we're operating in an uncertain consumer environment and that retailers, we can't speak for them, but they're going to make their own choices and they're going to make their own bets across who they're buying inventory from and when. I think we've positioned ourselves really well for them to prioritize us because they know that we're going to stand behind the products.

They are looking to win in Q4 with us.

Yes in terms of the innovation.

I think we feel very good about the pipeline of what.

What we've developed across lots of different categories and as I said earlier.

I think we're doing a really good job of innovating in the base and that's something that I really want to reinforce to investors because.

We have a great healthy base business, which is the foundation of the overall.

Business that we've created so.

Things like blend boss in things like Christi Pro and things like you know improvements to our core vacuum business.

Mark Barrocas: They know that we're investing behind the brand and the products that we're launching. I think they're looking to win in Q4 with us. Yeah. In terms of the innovation, listen, I think we feel very good about the pipeline of what we've developed across lots of different categories. As I said earlier, I think we're doing a really good job of innovating in the base. That's something that I really want to reinforce to investors because we have a great, healthy base business, which is the foundation of the overall business that we've created. Things like Ninja Blend Boss and things like Ninja Crispy Pro and things like improvements to our core vacuum business, those are all, I think, really, really exciting that maybe do not get some of the fanfare out there that they should. Thank you.

Those are all I think really really exciting that maybe do not get.

Some of the fanfare out there that they should.

Thank you I can confirm that does conclude the question and answer session.

Hum.

This concludes today's call. Thank you all for your participation you may now disconnect. Please enjoy the rest of your day.

[music].

Okay.

Mark Barrocas: I can confirm that does conclude the question and answer session here. That does conclude today's call. Thank you all for your participation. You may now disconnect, and please enjoy the rest of your day.

Q3 2025 SharkNinja Inc Earnings Call

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