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August 2 , 2021 CLARUS Clarus Reports Record Second Quarter 2021 Results and Raises Full - Year Outlook - Sales in the Second Quarter of 2021 Increased 144 % Year - Over - Year to a Record $ 73.3 Million - - Raises Full - Year Outlook : Expects 2021 Sales and Adjusted EBITDA to Grow Approximately 56 % and 132 % Year - Over - Year to $ 350 Million and $ 52 million , Respectively SALT LAKE CITY , Aug. 02 , 2021 ( GLOBE NEWSWIRE ) -- Clarus Corporation ( NASDAQ : CLAR ) ( " Clarus " and / or the " Company " ) , a global company focused on the outdoor and consumer enthusiast markets , reported financial results for the second quarter ended June 30 , 2021 . Second Quarter 2021 Financial Highlights vs. Same Year - Ago Quarter Sales increased 144 % to a record $ 73.3 million . Gross margin improved 280 basis points to 38.2 % . • Net income improved to $ 1.8 million , or $ 0.06 per diluted share , compared to a net loss of $ ( 2.7 ) million , or $ ( 0.09 ) per diluted share . • Adjusted net income before non - cash items increased significantly to $ 6.8 million , or $ 0.20 per diluted share , compared to an adjusted net loss of $ ( 1.2 ) million , or $ ( 0.04 ) per diluted share . • Adjusted EBITDA increased significantly to a record $ 11.7 million compared to $ ( 1.3 ) million . • Free cash flow ( net cash provided by operating activities less capital expenditures ) was $ 1.0 million compared to $ 10.2 million . Rhino - Rack Acquisition On June 1 , 2021 , Clarus announced the entry into a definitive agreement to acquire Rhino Rack , a leading manufacturer of highly - engineered automotive roof racks , trays , mounting systems , luggage boxes , carriers , and accessories . Clarus acquired Rhino - Rack for $ AUD 194 million ( approximately $ USD 145 million ) in cash , subject to a post - closing working capital adjustment , and approximately 2.3 million shares of Clarus common stock for a total purchase price of $ AUD 273 million or approximately $ USD 205 million based upon the AUD / USD exchange rate and market value of the stock price at closing . The acquisition closed on July 1 , 2021. Rhino - Rack will continue to operate independently as a wholly owned indirect subsidiary of Clarus and will constitute a third reporting segment . Management Commentary