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November 8 , 2021 CLARUS Clarus Reports Record Third Quarter 2021 Results - Sales in the Third Quarter of 2021 Increased 69 % Year - Over - Year to a Record $ 109.0 Million - - Upwardly Revised Financial Outlook Expects 2021 Sales and Adjusted EBITDA to Grow Approximately 62 % and 155 % Year - over - Year to $ 362.5 Million and $ 57 Million , Respectively - - Successfully Completed Public Offering of 2.75 Million Shares Plus 0.4 Million Overallotment Option For Gross Proceeds of $ 85.4 Million - SALT LAKE CITY , Nov. 08 , 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 third quarter ended September 30 , 2021 . Third Quarter 2021 Financial Highlights vs. Same Year - Ago Quarter Sales increased 69 % to a record $ 109.0 million . • Gross margin improved 240 basis points to 36.0 % ; adjusted gross margin up 520 basis points to 38.8 % . Net income increased to $ 4.5 million , or $ 0.13 per diluted share , compared to net income of $ 1.2 million , or $ 0.04 per diluted share . • Adjusted net income before non - cash items increased 97 % to $ 18.1 million , or $ 0.50 per diluted share , compared to $ 9.2 million , or $ 0.30 per diluted share . • Adjusted EBITDA more than doubled to a record $ 19.2 million , an Adjusted EBITDA margin of 17.7 % , compared to $ 9.1 million , an Adjusted EBITDA margin of 14.1 % . Public Offering On October 29 , 2021 , the Company closed its public offering of 2.75 million shares of the Company's common stock at a price to the public of $ 27.00 per share , providing gross proceeds of $ 74.3 million . In addition , on November 2 , 2021 , the Company closed the option exercise by the underwriters in the offering to purchase an additional 412,500 shares of the Company common stock on the same terms and conditions . With the addition of the full exercise of the underwriters ' option to purchase additional shares , the total number of shares sold by Clarus in the offering increased to 3,162,500 shares , and the gross proceeds before underwriting fees and estimated offering expenses were approximately $ 85.4 million . The Company intends to use a portion of the net proceeds of the offering for the repayment