Summary by Moomoo AI
SharkNinja delivered exceptional performance in fiscal year 2024, with net sales surging 30% to $5.53 billion and net income soaring 163% to $438.7 million. Gross margin expanded 320 basis points to 48.1%, driven by supply chain optimizations and improved operational efficiency. The company demonstrated strong growth across all product categories, with Food Preparation Appliances leading at 80% growth.The company continued its global expansion and category diversification strategy, with international sales growing to 31.3% of total revenue. Significant growth was achieved in the Beauty and Home Environment category, up 67.8% to $568.7 million, while maintaining leadership in core categories. The Ninja brand remained the #1 small kitchen appliances brand in the U.S., while Shark maintained its position as the #1 floorcare brand.Looking ahead, SharkNinja remains focused on driving innovation and expanding its global footprint. The company's robust R&D investments increased 36.9% to $341.3 million, supporting new product development and market expansion. With a strong balance sheet showing $363.7 million in cash and continued operational improvements, SharkNinja is well-positioned for sustained growth in 2025.
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