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Sportsman's Warehouse SPWH Loyalty Reward Program — Deferred Revenue

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Other financials

Income statement

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Revenue$256.1M+2.8%
Gross profit$75.8M+0.2%
Operating income-$18.1M+7.7%
Net income-$21.8M-2.8%
EPS (diluted)-$0.560.0%

Balance sheet

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Cash & equivalents$2.1M-42.3%
Total debt$377.2M-2.4%
Total equity$167.2M-22.3%
Total assets$838.0M-9.9%

Cash flow

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Operating cash flow-$55.4M+8.1%
CapEx$4.2M+11.2%
Free cash flow-$59.6M+6.9%

Valuation

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Market cap$51.9M-59.8%
Enterprise value$427.07M-16.3%
P/S-0.1×

Profitability

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Gross margin30.7%-0.2pp
Operating margin-2.9%
Net margin-4.2%+2.6pp
FCF margin1.1%+0.8pp

Returns & leverage

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Return on equity-26.5%+59.3pp
Debt / equity2.3×+0.5×
Current ratio1.2×0.0×

Where this comes from

Reported directly by Sportsman's Warehouse in its filing.

Tagged under the XBRL concept us-gaap:ContractWithCustomerLiability.

The official record: Sportsman's Warehouse’s 10-Q, filed June 2, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Sportsman's Warehouse's loyalty reward program — deferred revenue?
Sportsman's Warehouse (SPWH) reported loyalty reward program — deferred revenue of $5.36M in Q1 2026.
How has Sportsman's Warehouse's loyalty reward program — deferred revenue changed year-over-year?
Sportsman's Warehouse's loyalty reward program — deferred revenue increased by 144.1% year-over-year, from $2.2M to $5.36M.
What is the long-term trend for Sportsman's Warehouse's loyalty reward program — deferred revenue?
Over 4 years (2021 to 2025), Sportsman's Warehouse's loyalty reward program — deferred revenue has grown at a -32.0% compound annual growth rate (CAGR), from $46.61M to $9.94M.
What does loyalty reward program — deferred revenue mean?
This metric represents the deferred revenue obligation arising from unredeemed points or rewards earned by customers through the company's loyalty program. It reflects the estimated value of future goods or services that the company is obligated to provide to customers based on their past purchasing behavior. Monitoring this liability provides insight into customer engagement levels and the potential future impact on revenue recognition as these rewards are redeemed.