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ACQUISITIONS | 6 Months Ended
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Jun. 30, 2026
ACQUISITIONS |
ACQUISITIONS | NOTE 2. ACQUISITIONS ​ ONWRD ​ On June 18, 2026, Clarus and its wholly-owned subsidiary, Rhino-Rack USA LLC, entered into an Asset Purchase Agreement (the “ONWRD Purchase Agreement”) with ONWRD LLC (“ONWRD”) and Jared Peterson, Skyler Pinnick, and Ryan Price, pursuant to which the Company acquired certain assets of ONWRD (the “ONWRD Acquisition”), including inventory, intellectual property, software, domain names and social media accounts. The Company assumed specified liabilities relating to the acquired assets, including obligations arising under certain assigned contracts from and after the closing of the ONWRD Acquisition on June 18, 2026. ​ Pursuant to the ONWRD Purchase Agreement, the purchase price paid and payable in connection with the ONWRD Acquisition includes (i) $375 paid in cash at closing, subject to adjustment as set forth in the ONWRD Purchase Agreement and (ii) additional contingent payments based on the achievement of specified net sales thresholds and royalty payments based on net sales of certain products (the “ONWRD Contingent Consideration”). The Company estimated the initial fair value of the ONWRD Contingent Consideration to be $499 and recorded the related liabilities within accrued liabilities and other long-term liabilities. See Note 9 for discussion regarding the valuation of the ONWRD Contingent Consideration as of June 30, 2026. The ONWRD Acquisition was accounted for as a business combination. ​ The following table summarizes the preliminary acquisition-date fair value of the consideration transferred in the ONWRD Acquisition and its allocation to the assets acquired and liabilities assumed, each of which has been estimated at fair value. The fair value estimates for the purchase price allocation for ONWRD are based on the Company’s best estimates and assumptions as of the reporting date and are considered preliminary. The fair value measurements of identifiable assets and liabilities related to the ONWRD Acquisition are subject to change and the final purchase price allocation could be different from the amounts presented below. We expect to finalize the valuations as soon as practicable, but not later than one year from the date of the ONWRD Acquisition. There was no excess of consideration transferred over the assets acquired and liabilities assumed and no goodwill was recorded as a result of the ONWRD Acquisition. ​
​ | ​ | ​
​ | ONWRD
​ | June 18, 2026
​ | Estimated Fair Value
​ | ​ | ​
Cash paid | $ | 375
​ | ​ | ​
Contingent consideration | ​ | 499
​ | ​ | ​
Total purchase consideration | $ | 874
​ | ​ | ​
Assets acquired and liabilities assumed | ​ | ​
Assets | ​ | ​
Accounts receivable | $ | 13
Inventories | ​ | 214
Prepaid and other current assets | ​ | 6
Other intangible assets | ​ | 646
Total assets | ​ | 879
​ | ​ | ​
Liabilities | ​ | ​
Accounts payable and accrued liabilities | $ | 5
Total liabilities | ​ | 5
​ | ​ | ​
Net Book Value Acquired | $ | 874
​ The estimated fair value of inventory was recorded at expected sales price less cost to sell plus a reasonable profit margin for selling efforts. ​ In connection with the ONWRD Acquisition, the Company acquired exclusive rights to all of ONWRD’s intangible assets. $646 was assigned to the product technologies class of intangible assets, all of which were assigned an average useful life of three years. ​ No pre-existing relationships existed between the Company and ONWRD or the other parties to the ONWRD Purchase Agreement prior to the ONWRD Acquisition. ONWRD revenue and operating income are included in the Adventure segment. Total revenue and net income of ONWRD from the date of the ONWRD Acquisition to June 30, 2026 were not material to the Company’s consolidated financial statements.

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