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Stockholders' Equity (Tables)

12 Months Ended

Apr. 30, 2026

Equity [Abstract]

Summary of Stock Compensation Expense

The following table summarizes stock compensation expense by line item for the fiscal years ended April 30, 2026, 2025, and 2024 (in thousands):

		For the Year Ended April 30,
		2026				2025				2024
Cost of sales		$	615			$	686			$	648
Research and development			340				625				77
Selling, marketing, and distribution			1,150				1,148				930
General and administrative			6,245				5,150				4,028
Total stock-based compensation		$	8,350			$	7,609			$	5,683

Share Based Payment Award Performance Shares Valuation Assumptions

We grant PSUs to our executive officers and, from time to time, certain management employees who are not executive officers. At the time of grant, we calculate the fair value of our PSUs using the Monte Carlo simulation. We incorporate the following variables into the valuation model:

		For the Year Ended April 30,
		2026				2025				2024
Grant date fair market value
Smith & Wesson Brands, Inc.		$	9.22			$	16.80			$	12.08
Russell 2000 Index		$	1,975.86			$	1,980.23			$	1,769.21
Volatility (a)
Smith & Wesson Brands, Inc.			44.70	%			50.91	%			58.46	%
Russell 2000 Index			23.56	%			22.98	%			27.08	%
Correlation coefficient (b)			0.3541				0.3904				0.3528
Risk-free interest rate (c)			3.66	%			4.73	%			3.81	%
Dividend yield			5.64	%			2.86	%			3.31	%

(a)Expected volatility is calculated over the most recent period that represents the remaining term of the performance period as of the valuation date, or three years.

(b)The correlation coefficient utilizes the same historical price data used to develop the volatility assumptions.

(c)The risk-free interest rate is based on the yield of a zero-coupon U.S. Treasury bill, commensurate with the three-year performance period.

Summary of Activity for Unvested RSUs and PSUs

A summary of activity for unvested RSUs and PSUs for fiscal years 2026, 2025, and 2024 is as follows:

		For the Year Ended April 30,
		2026								2025									2024
						Weighted									Weighted									Weighted
		Total # of				Average				Total # of					Average				Total # of					Average
		Restricted				Grant Date				Restricted					Grant Date				Restricted					Grant Date
		Stock Units				Fair Value				Stock Units					Fair Value				Stock Units					Fair Value
RSUs and PSUs outstanding, beginning of period			1,204,133			$	14.21				1,000,347				$	13.45				932,705				$	13.14
Awarded			841,027				9.38				629,773					15.60				533,940					12.07
Released			(390,259	)			14.07				(287,929	)				13.18				(283,813	)	(a)			11.54
Forfeited			(173,199	)			13.22				(138,058	)				17.01				(182,485	)				10.83
RSUs and PSUs outstanding, end of period			1,481,702			$	11.62				1,204,133				$	14.21				1,000,347				$	13.45

(a)Includes 55,726 PSUs that vested during fiscal 2023.

Schedule of Assumptions used in Valuing ESPP Purchases

The following assumptions were used in valuing our ESPP purchases during the years ended April 30, 2026, 2025, and 2024:

		For the Year Ended April 30,
		2026				2025				2024
Risk-free interest rate			3.726	%			4.136	%			5.225	%
Expected term		6 months				6 months				6 months
Expected volatility			45.82	%			42.03	%			45.69	%
Dividend yield			4.61	%			4.97	%			3.27	%

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