Filing Flows › Sportsman's Warehouse Holdings (SPWH) › Q2 FY26
Sportsman's Warehouse Holdings (SPWH) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed Sep 4, 2025
Sportsman's Warehouse Holdings (SPWH) reported revenue of $294M for the second quarter fiscal 2026 (Q2 FY26), +2% from a year earlier and +18% from the quarter before. Operating margin was -1.1%, net loss $7.1M (2.4% of revenue).
Sportsman's Warehouse Holdings, Q2 FY26: revenue $294M (+2% year over year), operating margin -1.1%, net loss $7.1M, operating cash flow −$26.6M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $294M | +18% | +2% |
| Operating profit | −$3.2M | — | — |
| Net earnings | −$7.1M | — | — |
| Operating cash flow | −$26.6M | — | — |
What changed
Revenue was $293.9M in Q2 FY26, up 2% year over year and up 18% from the previous quarter.
Gross margin was 32.0%, up 0.8 points from a year earlier. Operating costs exceeded revenue by $3.2M, an operating margin of -1.1%. Operating expenses grew 3% against revenue growth of 2%. The quarter ended with a net loss of $7.1M, narrower than the previous quarter's $21.3M loss. Net interest and other expense of $3.8M was the main reason.
Operating cash flow was −$26.6M. Non-cash charges added back $9.9M of depreciation and amortization and $827K of share-based compensation. Working capital and other items used $30.2M. Capital expenditures of $7.4M exceeded it, leaving free cash flow of −$33.9M.
Questions
What was Sportsman's Warehouse Holdings' revenue in the second quarter fiscal 2026?
Sportsman's Warehouse Holdings (SPWH) reported revenue of $294M for the second quarter fiscal 2026 (Q2 FY26), +2% from a year earlier and +18% from the quarter before.
Was Sportsman's Warehouse Holdings profitable in the second quarter fiscal 2026?
Operating loss was $3.2M (-1.1% of revenue) and net loss $7.1M.