Latest news with #FlexBreeze
Wales Online
3 days ago
- Business
- Wales Online
Shark shoppers praise fan as 'the best ever' with almost flawless reviews
Shark shoppers praise fan as 'the best ever' with almost flawless reviews Shark's FlexBreeze fan has shoppers with many calling it the best fan they've ever bought The Shark FlexBreeze can be attached to a hosepipe to produce a cooling mist perfect for relaxing outside during heatwaves (Image: Narin Flanders ) Summer is almost around the corner and the Met Office has just announced that it expects the summer to be hotter and feature even more heatwaves. And for many Brits who struggle with the heat, a good quality fan might be an invaluable purchase - and this powerful Shark fan has been labelled as "the best ever" by shoppers. The Shark FlexBreeze High-Velocity 12 in 1 Fan is currently £170 on Amazon thanks to a deal which knocked the price down from £199.99. The fan comes with several configurations, including corded or cordless, tabletop or pedestal fan, indoors or outdoors, with or without a mister. There are five fan speeds, 180° oscillation, 55° tilt and a remote that helps shoppers stay cool. Read more: 'These Dr Martens sandals are my top summer purchase and they've got £42 off' Read more: Nutrition expert says mushroom coffee offers an energy boost 'without the crash' Shoppers can also feel the cooling breeze up to 20 metres away. For those who struggle to sleep at night due to the heat, ultra-quiet blades create gentle white noise, making it ideal for cooling their bedrooms and helping users sleep better. For anyone who does not want to spend quite as much Boots offers a Silentnight Home Electricals Airmax 1800 Stand Fan on sale for £40.50. It has a 4.4 star rating from shoppers and is 'easy to assemble'. The Shark FlexBreeze fan £199.99 £169.99 AMAZON GET DEAL Product Description Amazon has this Shark FlexBreeze fan for a cheaper price thanks to a payday sale. Perfect for the summer and the potential heatwaves that are on the horizon. Debenhams also offers a 40" Bladeless Tower Fan on offer for £119.99. It has a rating of 4.8 with 35 five star reviews and has been praised for being 'quiet'. The best thing about the Shark fan is that it has almost flawless reviews from almost 600 people on Amazon. One shopper who called it the "best fan ever" said they loved it. They added: "I have spent so much money on fans over the past few years, and none have even come close to how amazing this one is. It's the perfect size to move from desk to floor, and it's not a faff to do so. It's also brilliant for home working, as the first two settings are super quiet, and the third setting adds some noise; however, nothing louder than having your window open. "Even on the lowest setting, it gives a nice cooling breeze and really brings down the temperature in any room. The ultimate part is that it has a built-in rechargeable battery, which makes it the best one I have purchased. Brilliant for moving without the need for cables and it has a nice, solid weight to it." Another shopper added: "Expected no less from Shark Ninja. The fan is well designed, with a rather small footprint. The base is heavy enough to prevent wobbling, but light enough to be easily manoeuvred. Shark's FlexBreeze fan works indoors and out and can be run without a cable for up to 24 hours (Image: Shark ) "By looking at it, the Flexbreeze looks like a lightweight in the fan department, but turn it on and you're pleasantly surprised. Whisper quiet on settings one and two, with a mild hum all the way up to five. I couldn't sit in front of it on five for very long at all, felt like the inside of a wind tunnel." Article continues below However at a price of almost £200, some have complained about the price. One shopper added: "The remote is handy and the fact that it lifts away for a more portable fan is also handy. "It does what I need it to do, but still overpriced for what it is, as some of the smaller fans out there now are still quite strong at a fraction of the cost, hence the rating. Shark is a good brand, though, and this fan is solidly made, so I am hoping this will see me through many summers."
Digital Trends
09-05-2025
- Digital Trends
Shark FlexBreeze HydroGo Misting Portable Fan review: keep cool wherever you roam
Shark FlexBreeze HydroGo Misting Portable Fan review: keep cool wherever you roam MSRP $130.00 Score Details 'The Shark FlexBreeze HydroGo is a portable misting fan that does an excellent job keeping you cool, regardless of where you roam.' Pros Multiple misting levels Portable footprint Durable design Cons Not as powerful as larger fans Table of Contents Table of Contents Heaps of features Compact design Should you buy the FlexBreeze HydroGo? Summer is almost here, and that means long days by the pool, out in the wilderness, or with your toes dug into the sand. And while the sunshine and warm weather are always appreciated, sweltering heat waves can put a damper on your outdoor plans. That's where the Shark FlexBreeze HydroGo comes into play. Designed as a portable misting fan, it's built to be your companion for all sorts of adventures — and after testing it for several weeks, I've found it to be nothing short of 'fan-tastic.' Recommended Videos Terrible jokes aside, the HydroGo works exactly as advertised. Its small design makes it easy to fit into a vehicle, lug it with you to the pool, or plop it on a cramped balcony to beat the intense Colorado sun. It's not quite as powerful as larger fans — and it lacks an oscillation feature — but those are minor quirks on an otherwise stellar device. Heaps of features The main attraction of the FlexBreeze HydroGo is its misting capabilities. After filling its water tank with water (accessible through a port on top of the fan), you can set it to continuously or intermittently mist. A small flap on the front of the fan is where the mist is expelled, which sprays it directly into the flowing air — resulting in a fine, evaporative mist suitable for both indoor and outdoor use. Don't worry if you forget to turn off the mister. Shark designed the fan to automatically turn off its misting function a few hours after initial activation. Three buttons are located near this water port. One is the power button, while the other two adjust the fan and misting levels. A nearby LED light lets you know how much battery life is left. You can tilt the fan vertically to find a good position, though it doesn't offer automatic oscillation. The included U-shaped base is quite stable, and it's entirely removable. So if you'd prefer to toss the fan on another compatible Shark stand, doing so should take no more than a few seconds. Like anything that uses water, you'll need to perform periodic maintenance to ensure nothing unsavory is growing inside the tank. Shark makes this easy with a Lock Mode. This can be activated by holding the power button for eight seconds, disabling all functions — ensuring you don't accidentally turn the unit on in the middle of cleaning. The cleaning procedure is pretty standard, with Shark recommending you soak the tank with white vinegar and rinse with clean water. Beyond the lack of oscillation, there's little to complain about with the features on the FlexBreeze HydroGo. It's surprisingly powerful for its size, though don't expect it to be as breezy as something like the larger Shark FlexBreeze. But for generating a cool breeze while out in the heat, it's a wonderful solution. Compact design Designed to be portable, it should come as no surprise that the FlexBreeze HydroGo offers a compact footprint. Clocking in at less than 12 inches tall and around 8 inches wide, it's great for all sorts of small spaces. There's also a handle, giving you a simple way to transport it wherever you go. The device can be plugged into an outlet for continuous power, though its battery is rated for up to 12 hours of use on a single charge. I didn't quite get a full 12 hours of use during testing, as putting the fan on max settings quickly diminishes its battery. Still, I was able to use it for multiple hours across multiple days before needing a recharge — pretty impressive given its tiny size. Expect to get around two hours of usage at full blast, four or five when set in the middle. I was also impressed by its durable construction. Quiet during operation and with a chunky case that protects it from damage during transit, it's up for any adventure. It's also water-resistant, so you don't have to worry about spilling water all over the place while filling up its reservoir. Best of all, the water tank is integrated right into the frame, meaning you won't have to worry about setting up (or completely losing) a detachable water tank. The FlexBreeze HydroGo is available in six different colors, ranging from the minimalist dove and dark grey to the stylish honeydew and lilac. Regardless of which color you choose, you'll get all the same features and the same compact design. Should you buy the FlexBreeze HydroGo? The Shark FlexBreeze HydroGo is the ideal companion for all sorts of toasty adventures. Its durable design makes it great for rugged camping trips, its quiet performance won't disturb your neighbors, and its misting capabilities are bound to keep you cool during even the hottest days. I wish it offered automatic oscillation, but when used by just a single person, it's not too big of an issue. Add a second person to the mix, however, and you might be fighting for the breeze. Beyond the lack of oscillation, there's little to complain about. The Shark FlexBreeze HydroGo is a premium misting fan that hits all the right marks. It's a bit pricey at $130, but few competitors match its combination of performance, convenience, and durability. If you need a convenient way to beat the summer heat, the FlexBreeze HydroGo is highly recommended.
Business Wire
08-05-2025
- Business
- Business Wire
SharkNinja Reports First Quarter 2025 Results
NEEDHAM, Mass.--(BUSINESS WIRE)--SharkNinja, Inc. ('SharkNinja' or the 'Company') (NYSE: SN), a global product design and technology company, today announced its financial results for the first quarter ended March 31, 2025. Net sales increased 14.7% to $1,222.6 million. Gross margin and Adjusted Gross Margin decreased 10 and 60 basis points, respectively. Net income increased 7.5% to $117.8 million. Adjusted Net Income decreased 16.7% to $123.8 million Adjusted EBITDA decreased 13.1% to $200.4 million, or 16.4% of net sales. Mark Barrocas, Chief Executive Officer, commented, 'SharkNinja began 2025 with strong momentum, delivering nearly 15% top-line growth in a challenging market environment while demonstrating the remarkable adaptability and problem-solving capabilities that define our culture. Our three-pillar growth strategy continues to drive substantial market share gains across our expanding portfolio, as we innovate in new categories, grow share in existing segments, and advance our global footprint. While navigating an evolving tariff landscape, we've developed and begun implementing a comprehensive mitigation strategy through manufacturing efficiencies, strategic retail partnerships, and targeted operational optimizations. Furthermore, our proactive supplier diversification has positioned us with significant and improving supply chain flexibility. With strong profitability, robust demand for our 5-star products, and our team's relentless execution, we are confident in our ability to continue delivering sustainable growth and long-term value for our stakeholders.' Three Months Ended March 31, 2025 Net sales increased 14.7% to $1,222.6 million, compared to $1,066.2 million during the same period last year, or 14.9% on a constant currency basis. The increase in net sales resulted from growth in each of our four major product categories of Food Preparation Appliances, Cooking and Beverage Appliances, Cleaning Appliances and Beauty and Home Environment Appliances. Cleaning Appliances net sales increased by $19.5 million, or 4.6%, to $441.4 million, compared to $421.9 million in the prior year quarter, driven by the carpet extraction and cordless vacuums sub-categories. Cooking and Beverage Appliances net sales increased by $16.3 million, or 4.9%, to $345.9 million, compared to $329.6 million in the prior year quarter, driven by sales of our Ninja Luxe Café espresso machine and the strength of Ninja Crispi in the U.S. Food Preparation Appliances net sales increased by $92.4 million, or 45.0%, to $297.4 million, compared to $205.0 million in the prior year quarter, driven by strong sales of our frozen drinks sub-category, specifically our Slushi, and ice cream makers sub-category. Beauty and Home Environment Appliances net sales increased by $28.3 million, or 25.8%, to $137.9 million, compared to $109.6 million in the prior year quarter, primarily driven by continued strength of our FlexBreeze fans and air purifiers as well as the launch of our CryoGlow face masks. Geographically, domestic net sales increased 15.1% and international net sales increased 13.7%. International sales growth includes the unfavorable impact of the transition of our Mexico business from a distributor to direct model, as well as the timing of Easter and key new product launches in the United Kingdom. Gross profit increased 14.5% to $603.2 million, or 49.3% of net sales, compared to $526.6 million, or 49.4% of net sales, in the first quarter of 2024. Adjusted Gross Profit increased 13.2% to $613.4 million, or 50.2% of net sales, compared to $541.7 million, or 50.8% of net sales, in the first quarter of 2024. The decrease in gross margin and Adjusted Gross Margin of 10 and 60 basis points, respectively, was primarily driven by the impact of tariffs and the lapping of full price sell-in within EMEA of air fryers and other products, partially offset by cost optimization efforts and favorable mix. Research and development expenses increased 25.9% to $87.6 million, or 7.2% of net sales, compared to $69.6 million, or 6.5% of net sales, in the prior year quarter. This increase was primarily driven by incremental personnel-related expenses of $18.5 million driven by increased headcount to support new product categories and new market expansion. The overall increase was also driven by an increase of $1.5 million in prototypes and testing costs, partially offset by a decrease of $3.9 million in professional and consulting fees. Sales and marketing expenses increased 28.5% to $275.7 million, or 22.5% of net sales, compared to $214.6 million, or 20.1% of net sales, in the prior year quarter. This increase was primarily attributable to increases of $20.1 million in personnel-related expenses to support new product launches and expansion into new markets, $19.0 million in delivery and distribution costs driven by higher volumes, particularly in our direct-to-consumer business, $9.8 million in advertising-related expenses, and $7.5 million in professional and consulting fees. General and administrative expenses increased 8.5% to $94.9 million, or 7.7% of net sales, compared to $87.5 million, or 8.2% of net sales, in the prior year quarter. This increase was primarily driven by an increase of $7.8 million in technology costs, and an increase of $2.8 million in professional and consulting fees. These were partially offset by a decrease of $5.9 million in legal fees. Operating income decreased 6.5% to $144.9 million, or 11.9% of net sales, compared to $154.9 million, or 14.5% of net sales, during the prior year quarter. Adjusted Operating Income decreased 14.4% to $173.0 million, or 14.2% of net sales, compared to $202.2 million, or 19.0% of net sales, in the first quarter of 2024. Net income increased 7.5% to $117.8 million, or 9.6% of net sales, compared to $109.6 million, or 10.3% of net sales, in the prior year quarter. Net income per diluted share increased 6.4% to $0.83, compared to $0.78 in the prior year quarter. Adjusted Net Income decreased 16.7% to $123.8 million, or 10.1% of net sales, compared to $148.6 million, or 13.9% of net sales, in the prior year quarter. Adjusted Net Income per diluted share decreased 17.9% to $0.87, compared to $1.06 in the prior year quarter. Adjusted EBITDA decreased 13.1% to $200.4 million, or 16.4% of net sales, compared to $230.5 million, or 21.6% of net sales in the prior year quarter. Balance Sheet and Cash Flow Highlights As of March 31, 2025, the Company had cash and cash equivalents of $224.7 million and available capacity under its revolving credit facility of $489.0 million. Total debt, excluding unamortized deferred financing costs, was $769.5 million as of March 31, 2025. Inventories as of March 31, 2025 increased 29.8% to $973.2 million, compared to $750.0 million as of March 31, 2024. Fiscal 2025 Outlook For fiscal year 2025, SharkNinja expects: Net sales to increase 11% to 13% (above the prior expectation of 10% to 12%). Adjusted Net Income per diluted share between $4.90 and $5.00, reflecting a 12% to 14% increase compared to the prior year (above the prior expectation of between $4.80 and $4.90, reflecting a 10% to 12% increase). Adjusted EBITDA between $1,090 million and $1,110 million, reflecting a 15% to 17% increase compared to the prior year (above the prior expectation of between $1,070 million and $1,090 million, reflecting a 13% to 15% increase). A GAAP effective tax rate of approximately 24% to 25%. Diluted weighted average shares outstanding of approximately 142.5 million. Capital expenditures of $180 million to $200 million primarily to support investments in new product launches and technology. Conference Call Details A conference call to discuss the first quarter 2025 financial results is scheduled for today, May 8, 2025, at 8:30 a.m. Eastern Time. A live audio webcast of the conference call will be available online at Investors and analysts interested in participating in the live call are invited to dial 1-833-470-1428 or 1-404-975-4839 and enter confirmation code 049819. The webcast will be archived and available for replay. About SharkNinja SharkNinja is a global product design and technology company, with a diversified portfolio of 5-star rated lifestyle solutions that positively impact people's lives in homes around the world. Powered by two trusted, global brands, Shark and Ninja, the company has a proven track record of bringing disruptive innovation to market, and developing one consumer product after another has allowed SharkNinja to enter multiple product categories, driving significant growth and market share gains. Headquartered in Needham, Massachusetts with more than 3,600 associates, the company's products are sold at key retailers, online and offline, and through distributors around the world. For more information, please visit Forward-looking statements This press release contains 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect our current views with respect to, among other things, future events and our future business, financial condition, results of operations and prospects and Fiscal 2025 outlook. These statements are often, but not always, made through the use of words or phrases such as 'may,' 'should,' 'could,' 'predict,' 'potential,' 'believe,' 'will likely result,' 'expect,' 'continue,' 'will,' 'anticipate,' 'seek,' 'estimate,' 'intend,' 'plan,' 'projection,' 'would' and 'outlook,' or the negative version of those words or phrases or other comparable words or phrases of a future or forward-looking nature. These forward-looking statements are not statements of historical fact, and are based on current expectations, estimates and projections about our industry as well as certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond our control. These forward-looking statements are subject to a number of known and unknown risks, uncertainties and assumptions, which you should consider and read carefully, including but not limited to: our ability to maintain and strengthen our brands to generate and maintain ongoing demand for our products; our ability to commercialize a continuing stream of new products and line extensions that create demand; our ability to effectively manage our future growth; general economic conditions, including the impacts of tariff programs, and the level of discretionary consumer spending; our ability to expand into additional consumer markets; our ability to maintain product quality and product performance at an acceptable cost; our ability to compete with existing and new competitors in our markets; problems with, or loss of, our supply chain or suppliers, or an inability to obtain raw materials; the risks associated with doing business globally; inflation, changes in the cost or availability of raw materials, energy, transportation and other necessary supplies and services; our ability to hire, integrate and retain highly skilled personnel; our ability to maintain, protect and enhance our intellectual property; our ability to securely maintain consumer and other third-party data; our ability to comply with regulatory requirements; the increased expenses associated with being a public company; our status as a 'controlled company' within the meaning of the rules of NYSE; our ability to achieve some or all of the anticipated benefits of the separation; and the payment of any declared dividends. This list of factors should not be construed as exhaustive and should be read in conjunction with those described in our Annual Report on Form 20-F filed with the SEC under 'Risk Factors' and 'Management's Discussion and Analysis of Financial Condition and Results of Operations' and other filings we make with the SEC. We operate in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for us to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, the future events and trends discussed in this press release, and our future levels of activity and performance, may not occur and actual results could differ materially and adversely from those described or implied in the forward-looking statements. As a result, you should not regard any of these forward-looking statements as a representation or warranty by us or any other person or place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made, and we do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. In addition, statements that contain 'we believe' and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based on information available to us as of the date of this press release. While we believe that this information provides a reasonable basis for these statements, this information may be limited or incomplete. These statements are inherently uncertain, and investors are cautioned not to unduly rely on these statements. We qualify all of our forward-looking statements by the cautionary statements contained in this press release. SHARKNINJA, INC. (unaudited) As of March 31, 2025 December 31, 2024 Assets Current assets: Cash and cash equivalents $ 224,696 $ 363,669 Accounts receivable, net 1,040,635 1,266,595 Inventories 973,198 899,989 Prepaid expenses and other current assets 157,521 114,008 Total current assets 2,396,050 2,644,261 Property and equipment, net 221,700 211,464 Operating lease right-of-use assets 143,479 146,257 Intangible assets, net 459,539 462,678 Goodwill 834,781 834,781 Deferred tax assets 58,628 43,093 Other assets, noncurrent 61,225 51,625 Total assets $ 4,175,402 $ 4,394,159 Liabilities and Shareholders' Equity Current liabilities: Accounts payable $ 462,495 $ 612,031 Accrued expenses and other current liabilities 641,667 841,529 Tax payable 70,487 36,548 Debt, current 39,344 39,344 Total current liabilities 1,213,993 1,529,452 Debt, noncurrent 726,303 736,139 Operating lease liabilities, noncurrent 143,339 145,377 Deferred tax liabilities 16,255 9,931 Other liabilities, noncurrent 37,279 37,288 Total liabilities 2,137,169 2,458,187 Shareholders' equity: Ordinary shares, $0.0001 par value per share, 1,000,000,000 shares authorized; 141,041,197 and 140,347,436 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively 14 14 Additional paid-in capital 1,008,739 1,038,213 Retained earnings 1,026,859 909,024 Accumulated other comprehensive income (loss) 2,621 (11,279 ) Total shareholders' equity 2,038,233 1,935,972 Total liabilities and shareholders' equity $ 4,175,402 $ 4,394,159 Expand SHARKNINJA, INC. CONDENSED CONSOLIDATED STATEMENTS OF INCOME (in thousands, except share and per share data) (unaudited) Three Months Ended March 31, 2025 2024 Net sales (1) $ 1,222,638 $ 1,066,228 Cost of sales 619,412 539,611 Gross profit 603,226 526,617 Operating expenses: Research and development 87,603 69,596 Sales and marketing 275,737 214,568 General and administrative 94,940 87,511 Total operating expenses 458,280 371,675 Operating income 144,946 154,942 Interest expense, net (12,629 ) (14,722 ) Other income, net 13,216 3,248 Income before income taxes 145,533 143,468 Provision for income taxes 27,698 33,856 Net income $ 117,835 $ 109,612 Net income per share, basic $ 0.84 $ 0.79 Net income per share, diluted $ 0.83 $ 0.78 Weighted-average number of shares used in computing net income per share, basic 140,622,029 139,448,556 Weighted-average number of shares used in computing net income per share, diluted 142,183,430 140,703,025 Expand (1) Net sales in our product categories were as follows: Expand Three Months Ended March 31, ($ in thousands) 2025 2024 Cleaning Appliances $ 441,424 $ 421,920 Cooking and Beverage Appliances 345,937 329,642 Food Preparation Appliances 297,392 205,036 Beauty and Home Environment Appliances 137,885 109,630 Total net sales $ 1,222,638 $ 1,066,228 Expand SHARKNINJA, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) (unaudited) Three Months Ended March 31, 2025 2024 Cash flows from operating activities: Net income $ 117,835 $ 109,612 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Depreciation and amortization 31,946 27,817 Share-based compensation 11,550 19,426 Provision for credit losses 3,178 3,004 Non-cash lease expense 4,993 4,524 Deferred income taxes, net (9,211 ) (10,014 ) Other 870 508 Changes in operating assets and liabilities: Accounts receivable 237,353 198,729 Inventories (62,850 ) (52,356 ) Prepaid expenses and other assets (62,900 ) (25,233 ) Accounts payable (156,116 ) (48,242 ) Tax payable 33,939 24,097 Operating lease liabilities (894 ) (797 ) Accrued expenses and other liabilities (204,549 ) (207,193 ) Net cash (used in) provided by operating activities (54,856 ) 43,882 Cash flows from investing activities: Purchase of property and equipment (32,661 ) (23,572 ) Purchase of intangible asset (2,836 ) (2,835 ) Capitalized internal-use software development (1,312 ) (479 ) Net cash used in investing activities (36,809 ) (26,886 ) Cash flows from financing activities: Repayment of debt (10,125 ) (5,063 ) Net ordinary shares withheld for taxes upon issuance of restricted stock units (48,449 ) (32,857 ) Proceeds from shares issued under employee stock purchase plan 7,425 — Net cash used in financing activities (51,149 ) (37,920 ) Effect of exchange rates changes on cash 3,841 (1,243 ) Net decrease in cash and cash equivalents (138,973 ) (22,167 ) Cash and cash equivalents at beginning of period 363,669 154,061 Cash and cash equivalents at end of period $ 224,696 $ 131,894 Expand Non-GAAP Financial Measures In addition to the measures presented in our condensed consolidated financial statements, we regularly review other financial measures, defined as non-GAAP financial measures by the SEC, to evaluate our business, measure our performance, identify trends, prepare financial forecasts, and make strategic decisions. The key non-GAAP financial measures we consider are Adjusted Gross Profit, Adjusted Gross Margin, Adjusted Operating Income, Adjusted Net Income, Adjusted Net Income Per Share, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin and Adjusted Effective Tax Rate. These non-GAAP financial measures are used by both management and our Board, together with comparable GAAP information, in evaluating our current performance and planning our future business activities. These non-GAAP financial measures provide supplemental information regarding our operating performance on a non-GAAP basis that excludes certain gains, losses and charges of a non-cash nature or which occur relatively infrequently and/or which management considers to be unrelated to our core operations, as well as the cost of sales from (i) inventory markups that are being eliminated as a result of the transition of certain product procurement functions from a subsidiary of JS Global to SharkNinja concurrently with the separation and (ii) costs related to the transitional Sourcing Services Agreement with JS Global that was entered into in connection with the separation (collectively, the 'Product Procurement Adjustment'). Management believes that tracking and presenting these non-GAAP financial measures provides management and the investment community with valuable insight into our ongoing core operations, our ability to generate cash and the underlying business trends that are affecting our performance. We believe that these non-GAAP measures, when used in conjunction with our GAAP financial information, also allow investors to better evaluate our financial performance in comparison to other periods and to other companies in our industry and to better understand and interpret the results of the ongoing business following the separation and distribution. These non-GAAP financial measures should not be viewed as a substitute for our financial results calculated in accordance with GAAP and you are cautioned that other companies may define these non-GAAP financial measures differently. SharkNinja does not provide a reconciliation of forward-looking Adjusted Net Income and Adjusted EBITDA to GAAP net income because such reconciliations are not available without unreasonable efforts. This is due to the inherent difficulty in forecasting with reasonable certainty certain amounts that are necessary for such reconciliations, including, in particular, the realized and unrealized foreign currency gains or losses reported within other expense. For the same reasons, we are unable to forecast with reasonable certainty all deductions and additions needed in order to provide forward-looking GAAP net income at this time. The amount of these deductions and additions may be material, and, therefore, could result in forward-looking GAAP net income being materially different or less than forward-looking Adjusted Net Income and Adjusted EBITDA. See 'Forward-looking statements' above. We define Adjusted Gross Profit as gross profit as adjusted to exclude (i) certain items that we do not consider indicative of our ongoing operating performance following the separation, including the cost of sales from the Product Procurement Adjustment and (ii) the impact of a voluntary product recall. We define Adjusted Gross Margin as Adjusted Gross Profit divided by net sales. We believe that Adjusted Gross Profit and Adjusted Gross Margin are appropriate measures of our operating performance because each eliminates certain other adjustments that do not relate to the ongoing performance of our business. The following table reconciles Adjusted Gross Profit and Adjusted Gross Margin to the most comparable GAAP measure, gross profit and gross margin, respectively, for the periods presented: Three Months Ended March 31, ($ in thousands, except %) 2025 2024 Net sales $ 1,222,638 $ 1,066,228 Cost of sales (619,412 ) (539,611 ) Gross profit 603,226 526,617 Gross margin % 49.3 % 49.4 % Product Procurement Adjustment (1) 6,541 15,098 Product recall (2) 3,603 — Adjusted Gross Profit $ 613,370 $ 541,715 Net sales $ 1,222,638 $ 1,066,228 Adjusted Gross Margin 50.2 % 50.8 % Expand (1) Represents cost of sales incurred related to the Product Procurement Adjustment. As a result of the separation, we purchase 100% of our inventory from one of our subsidiaries, SharkNinja (Hong Kong) Company Limited ('SNHK'), and no longer purchase inventory from a purchasing office wholly owned by JS Global. Thus, the markup on all inventory purchased subsequent to the separation is completely eliminated in consolidation. As a result of the separation, we pay JS Global a sourcing service fee to provide value-added sourcing services on a transitional basis under a Sourcing Services Agreement. (2) Adjusted for gross profit impact from a voluntary product recall that was recognized during the three months ended March 31, 2025. Expand We define Adjusted Operating Income as operating income excluding (i) share-based compensation, (ii) certain litigation costs, (iii) amortization of certain acquired intangible assets, (iv) certain transaction-related costs, (v) certain items that we do not consider indicative of our ongoing operating performance following the separation, including cost of sales from our Product Procurement Adjustment, and (vi) the impact of a voluntary product recall. The following table reconciles Adjusted Operating Income to the most comparable GAAP measure, operating income, for the periods presented: Three Months Ended March 31, ($ in thousands) 2025 2024 Operating income $ 144,946 $ 154,942 Share-based compensation (1) 11,550 19,426 Litigation costs (2) 827 6,491 Amortization of acquired intangible assets (3) 4,897 4,897 Transaction-related costs (4) — 1,342 Product Procurement Adjustment (5) 6,541 15,098 Product recall (6) 4,287 — Adjusted Operating Income $ 173,048 $ 202,196 Expand (1) Represents non-cash expense related to awards issued from the SharkNinja equity incentive plan. (2) Represents litigation costs incurred and related settlements for certain patent infringement claims, false advertising claims, and any related settlement costs and recoveries, which were recorded in general and administrative expenses. (3) Represents amortization of acquired intangible assets that we do not consider normal recurring operating expenses, as the intangible assets relate to JS Global's acquisition of our business. We exclude amortization charges for these acquisition-related intangible assets for purposes of calculating Adjusted Operating Income, although revenue is generated, in part, by these intangible assets, to eliminate the impact of these non-cash charges that are significantly impacted by the timing and valuation of JS Global's acquisition of our business, as well as the inherent subjective nature of purchase price allocations. Of the amortization of acquired intangible assets, $0.9 million for the three months ended March 31, 2025 and 2024 was recorded to research and development expenses, and $4.0 million for the three months ended March 31, 2025 and 2024 was recorded to sales and marketing expenses. (4) Represents certain costs incurred related to a secondary offering transaction. (5) Represents cost of sales incurred related to the Product Procurement Adjustment. As a result of the separation, we purchase 100% of our inventory from one of our subsidiaries, SNHK, and no longer purchase inventory from a purchasing office wholly owned by JS Global. Thus, the markup on all inventory purchased subsequent to the separation is completely eliminated in consolidation. As a result of the separation, we pay JS Global a sourcing service fee to provide value-added sourcing services on a transitional basis under a Sourcing Services Agreement. (6) Adjusted for operating income impact from a voluntary product recall that was recognized during the three months ended March 31, 2025. Expand We define Adjusted Net Income as net income excluding (i) share-based compensation, (ii) certain litigation costs, (iii) foreign currency gains and losses, net, (iv) amortization of certain acquired intangible assets, (v) certain transaction-related costs, (vi) certain items that we do not consider indicative of our ongoing operating performance following the separation, including cost of sales from our Product Procurement Adjustment, (vii) the impact of a voluntary product recall, and (viii) the tax impact of the adjusted items. Adjusted Net Income Per Share is defined as Adjusted Net Income divided by the diluted weighted average number of ordinary shares. The following table reconciles Adjusted Net Income and Adjusted Net Income Per Share to the most comparable GAAP measures, net income and net income per share, diluted, respectively, for the periods presented: (1) Represents non-cash expense related to awards issued from the SharkNinja equity incentive plan. (2) Represents litigation costs incurred and related settlements for certain patent infringement claims, false advertising claims, and any related settlement costs and recoveries, which were recorded in general and administrative expenses. (3) Represents foreign currency transaction gains and losses recognized from the remeasurement of transactions that were not denominated in the local functional currency, including gains and losses related to foreign currency derivatives not designated as hedging instruments. (4) Represents amortization of acquired intangible assets that we do not consider normal recurring operating expenses, as the intangible assets relate to JS Global's acquisition of our business. We exclude amortization charges for these acquisition-related intangible assets for purposes of calculated Adjusted Net Income, although revenue is generated, in part, by these intangible assets, to eliminate the impact of these non-cash charges that are significantly impacted by the timing and valuation of JS Global's acquisition of our business, as well as the inherent subjective nature of purchase price allocations. Of the amortization of acquired intangible assets, $0.9 million for the three months ended March 31, 2025 and 2024 was recorded to research and development expenses, and $4.0 million for the three months ended March 31, 2025 and 2024 was recorded to sales and marketing expenses. (5) Represents certain costs incurred related to a secondary offering transaction. (6) Represents cost of sales incurred related to the Product Procurement Adjustment. As a result of the separation, we purchase 100% of our inventory from one of our subsidiaries, SNHK, and no longer purchase inventory from a purchasing office wholly owned by JS Global. Thus, the markup on all inventory purchased subsequent to the separation is completely eliminated in consolidation. As a result of the separation, we pay JS Global a sourcing service fee to provide value-added sourcing services on a transitional basis under a Sourcing Services Agreement. (7) Adjusted for net income impact from a voluntary product recall that was recognized during the three months ended March 31, 2025. (8) Represents the income tax effects of the adjustments included in the reconciliation of net income to Adjusted Net Income determined using the tax rate of 22%, which approximates our effective tax rate, excluding certain share-based compensation costs and separation and distribution-related costs that are not tax deductible. Expand We define EBITDA as net income excluding: (i) interest expense, net, (ii) provision for income taxes and (iii) depreciation and amortization. We define Adjusted EBITDA as EBITDA excluding (i) share-based compensation cost, (ii) certain litigation costs, (iii) foreign currency gains and losses, net, (iv) certain transaction-related costs, (v) certain items that we do not consider indicative of our ongoing operating performance following the separation, including cost of sales from our Product Procurement Adjustment, and (vi) the impact of a voluntary product recall. We define Adjusted EBITDA Margin as Adjusted EBITDA divided by net sales. We believe EBITDA, Adjusted EBITDA and Adjusted EBITDA Margin are appropriate measures because they facilitate a comparison of our operating performance on a consistent basis from period to period that, when viewed in combination with our results according to GAAP, we believe provide a more complete understanding of the factors and trends affecting our business than GAAP measures alone. The following table reconciles EBITDA, Adjusted EBITDA and Adjusted EBITDA Margin to the most comparable GAAP measure, net income, for the periods presented: Three Months Ended March 31, ($ in thousands, except %) 2025 2024 Net income $ 117,835 $ 109,612 Interest expense, net 12,629 14,722 Provision for income taxes 27,698 33,856 Depreciation and amortization 31,946 27,817 EBITDA 190,108 186,007 Share-based compensation (1) 11,550 19,426 Litigation costs (2) 827 6,491 Foreign currency (gains) losses, net (3) (12,951 ) 2,167 Transaction-related costs (4) — 1,342 Product Procurement Adjustment (5) 6,541 15,098 Product recall (6) 4,287 — Adjusted EBITDA $ 200,362 $ 230,531 Net sales $ 1,222,638 $ 1,066,228 Adjusted EBITDA Margin 16.4 % 21.6 % Expand (1) Represents non-cash expense related to awards issued from the SharkNinja equity incentive plan. (2) Represents litigation costs incurred and related settlements for certain patent infringement claims, false advertising claims, and any related settlement costs and recoveries, which were recorded in general and administrative expenses. (3) Represents foreign currency transaction gains and losses recognized from the remeasurement of transactions that were not denominated in the local functional currency, including gains and losses related to foreign currency derivatives not designated as hedging instruments. (4) Represents certain costs incurred related to a secondary offering transaction. (5) Represents cost of sales incurred related to the Product Procurement Adjustment. As a result of the separation, we purchase 100% of our inventory from one of our subsidiaries, SNHK, and no longer purchase inventory from a purchasing office wholly owned by JS Global. Thus, the markup on all inventory purchased subsequent to the separation is completely eliminated in consolidation. As a result of the separation, we pay JS Global a sourcing service fee to provide value-added sourcing services on a transitional basis under a Sourcing Services Agreement. (6) Adjusted for the Adjusted EBITDA impact from a voluntary product recall that was recognized during the three months ended March 31, 2025. Expand We define Adjusted Effective Tax Rate as our effective tax rate adjusted to remove the tax impact of (i) share-based compensation and (ii) other non‑GAAP adjustments. (1) Represents the income-tax effect of share-based compensation, including nondeductible amounts and discrete tax benefits. (2) Represents the aggregate income-tax effects of the other non-GAAP adjustments on the effective tax rate. Expand We refer to growth rates in net sales on a constant currency basis so that results can be viewed without the impact of fluctuations in foreign currency exchange rates. These amounts are calculated by translating current year results at prior year average exchange rates. We believe elimination of the foreign currency translation impact provides useful information in understanding and evaluating trends in our operating results.
Daily Mirror
01-05-2025
- Business
- Daily Mirror
Dyson cuts £80 off powerful tower fan as UK reaches 26 degrees in heatwave
Parts of the UK reached 26 degrees celsius yesterday and with more sunny weather on the horizon brands including Dyson have cut their cooling tower fan prices If this week's sunny weather is anything to go by, then the UK is starting to heat up, with clear skies and temperatures reaching 26 degrees this week. Finally, the harsh cold of winter is on it's way out but before long many of us will be complaining it's 'too hot'. We all know too well how muggy the heat can feel in the UK, with many of our homes built and designed to retain heat in winter and not for the few months of warmer weather many of us are left sweltering in the rare heat. This is why fans and portable air conditioning units have become so sought after. From Dyson's quality air flow models, to Shark's FlexBreeze and newest TurboBlade that's designed to pop at the end of your bed, there are plenty of effective options to go for, all be it some with a hefty price tag. Which is why we've rounded up the latest sales to help you get a deal before the heat hits - like the Dyson Cool AM07 Tower fan that's been cut by £80. The Dyson Jet Focus AM07 has been a frequent mention on our roundup buying guides in the past thanks to its versatility, and powerful airflow that's designed to cool large spaces, quickly. And in the sale it drops to a cheaper price of £269 opposed to its usual £349.99. Differing from a standard desk fan, the Dyson model goes a step further with its Air Multiplier technology. This does boost the price compared to rivals, but it is what helps keep larger spaces cool quickly. The fan combines turbochargers and jet engines to boost air flow, this is how it circulates 500 litres of cool air per second. A design which is becoming more popular with tech brands, including rivals Shark and its newest TurboBlade Multi Directional Cooling fan, now £249.99. Although it is £20 cheaper than our picked-out Dyson model, this quirky-looking model is designed to pop at the end of the bed, helping keep sleepers cool on hot summer nights. The Shark Turbo Blade also circulates air far, reaching up to 20m, although it doesn't have the same 500-litre capacity per second that Dyson's model does. Both the Dyson AM07 Tower fan and the Shark TurboBlade have 10 different settings to choose from. Dyson fans are often considered to be at the top of the cooling tech industry but their quality engineering does lead to higher prices, which doesn't suit all shoppers. A reason why cheaper alternatives like this Dreo Silent Tower Fan could be a better option for some, priced at £67.99. "It's the best thing we have done and wish we had bought it sooner", said one shopper. As the continued: Cool air and cool design. Very easy to assemble, 3 pieces just click together." A lot of the reviews praise the Dyson model for its strong air circulation, however, there were a few gripes when sleeping at night. As one shopper said: "The fan is very powerful however, the LED light is too bright. I brought it for my bedroom and it lights the whole room up at night it is a shame Mr Dyson didn't make it dim in the dark" A different reviewer added: "The main advantage is the lack of blades, it is very easy to keep the device clean so as not to inhale dust. In addition, it looks nice in the interior, it is not an unsightly device."
