The following is a summary of the SharkNinja, Inc. (SN) Q1 2024 Earnings Call Transcript:

Financial Performance:

• SharkNinja's Q1 2024 net sales increased by 28% to $1.1 billion, and adjusted EBITDA grew by 30% to $231 million.

• Gross margins improved by over 200 basis points and EBITDA margins increased by 30 basis points year-over-year.

• Net income increased to $110 million from $87 million the previous year.

• The company increased its fiscal year 2024 guidance expecting net sales to increase between 12% to 14%.

• Adjusted EPS for FY 2024 has been projected to be in the range of $3.66 to $3.82, which represents a 14% to 19% YoY increase.

Business Progress:

• SharkNinja expanded its product offerings by entering 18 new subcategories, including Ninja coolers and Shark indoor/outdoor fans.

• The company aims to produce most of U.S. volume outside of China by 2025 as part of its diversification strategy.

• It made significant expansions into Europe and Latin America and plans further expansion in the Middle East in 2H.

• Experienced significant growth in French and German markets with plans for further expansions in regions such as North America, Nordics, Benelux, Poland, Italy, and Spain.

• To support this growth, SharkNinja is investing over 6% of sales in R&D and over 9% of sales in marketing.

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