SharkNinja Inc (NYSE:SN) reported financial results for the fourth quarter and full year ended December 31, 2025, delivering a quarter of robust growth that nonetheless fell short of Wall Street's top-line expectations. The market's immediate reaction, a decline in pre-market trading, suggests investors are weighing strong profitability gains against the revenue miss and a conservative forward outlook.
Earnings and Revenue Versus Estimates
The company's fourth-quarter performance presented a mixed picture relative to analyst forecasts. SharkNinja posted impressive bottom-line growth, but its revenue came in below consensus estimates.
- Revenue: Reported net sales of $2.10 billion, representing a 17.6% year-over-year increase. This figure fell short of the analyst consensus estimate of approximately $2.15 billion.
- Earnings Per Share (Non-GAAP): Reported Adjusted EPS of $1.93, which surpassed the consensus estimate of $1.86. This marks a 37.9% increase compared to the $1.40 reported in Q4 2024.
The divergence between the revenue miss and the earnings beat highlights the company's effective cost management and operational efficiency during the quarter, allowing it to expand profitability even as sales growth, while strong, did not meet the elevated expectations set by analysts.
Market Reaction and Forward Guidance
The stock was trading lower in pre-market activity following the report. This price action likely reflects the revenue shortfall and the company's guidance for the 2026 fiscal year, which appears to be in line with or slightly below current analyst projections.
For the full year 2026, SharkNinja provided an outlook that calls for:
- Net sales growth of 10.0% to 11.0%, which would result in a revenue range of approximately $7.04 billion to $7.10 billion.
- Adjusted EPS between $5.90 and $6.00.
Analysts had been modeling full-year 2026 sales of around $7.37 billion and revenue of $6.16 billion, indicating the company's sales growth forecast is more conservative than the street anticipated. The EPS guidance midpoint of $5.95 compares to an existing estimate of $6.16 billion in revenue, suggesting the company is forecasting healthy profit expansion on its projected sales base.
Key Highlights from the Earnings Report
Beyond the headline numbers, SharkNinja's report underscored several strengths in its business model and growth strategy:
Exceptional Category Growth: The company saw broad-based momentum, with all four product categories posting year-over-year sales increases. The standout performer was the Beauty and Home Environment Appliances segment, which skyrocketed 63.2% in the quarter, driven by strong sales of fans, air purifiers, and the launch of face masks.
Geographic Expansion: International markets continue to be a powerful growth engine. International net sales grew 21.4% for the quarter, outpacing domestic growth of 15.7%, as the company successfully introduces new product categories globally.
Significant Margin Expansion and Profitability: The company demonstrated impressive operational leverage. Gross margin improved, and operating income surged 67.6% to $343.8 million. For the full year, net income jumped 59.9% to $701.4 million.
Strong Balance Sheet and Capital Return: SharkNinja ended the year with $777.3 million in cash and cash equivalents. Bolstered by this financial strength, the Board of Directors authorized a new $750 million share repurchase program, signaling confidence in the company's future cash flow and a commitment to returning capital to shareholders.
Conclusion
SharkNinja's fourth quarter was characterized by powerful earnings growth and continued successful execution of its international and category expansion plans. However, a revenue miss against high expectations and a forward sales outlook that moderates from the exceptional growth rates of 2025 have given investors pause, as reflected in the negative pre-market sentiment. The company's ability to significantly grow profits and announce a major buyback program provides a solid counterbalance, setting up a narrative for 2026 focused on disciplined, profitable growth.
For a detailed look at SharkNinja's historical earnings and future analyst estimates, visit the earnings estimates page for SN.
Disclaimer: This article is for informational purposes only and does not constitute investment advice, financial analysis, or a recommendation to buy or sell any security. Investors should conduct their own research and consult with a qualified financial advisor before making any investment decisions.
