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Smith & Wesson Brands (SWBI) earnings and revenue breakdown

Latest: Q1 FY27 · 10-Q filed Sep 3, 2026 · Smith & Wesson Brands (SWBI) Q1 FY27 earnings results →

Q1 FY27 Revenue up 32% year over year to $113M · 2¢ of every $1 of revenue kept as net profit · operating margin 3.7%

Smith & Wesson Brands made $113M in Q1 FY27 (+32% Y/Y). Operating margin 3.7%, net earnings $2.6M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Sep 3, 2026.

Revenue$113M
Year over year+32%
Operating margin3.7%
Net earnings$2.6M
Operating cash flow−$8.8M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $112.6M in Q1 FY27, up 32% year over year and down 37% from the previous quarter.

Gross margin was 28.7%, up 2.7 points from Q1 FY26. Operating profit was $4.2M, a 3.7% margin (up 7.2 points year over year). Operating expenses grew 12% against revenue growth of 32%. The fastest-growing cost line was Sales & marketing (+16%). Net earnings were $2.6M. The effective tax rate was 35.6%.

Operating cash flow was −$8.8M. Non-cash charges added back $7.7M of depreciation and amortization and $1.8M of share-based compensation. Working capital and other items used $20.9M. Capital expenditures of $11.9M exceeded it, leaving free cash flow of −$20.8M.

Quarterly history

Smith & Wesson Brands revenue by quarterSmith & Wesson Brands revenue by quarter$116MQ3 FY25$141MQ4 FY25$85.1MQ1 FY26$125MQ2 FY26$136MQ3 FY26$178MQ4 FY26$113MQ1 FY27
Smith & Wesson Brands net earnings by quarterSmith & Wesson Brands net earnings by quarter$1.7MQ3 FY25$9.7MQ4 FY25−$3.4MQ1 FY26$1.9MQ2 FY26$3.8MQ3 FY26$16.2MQ4 FY26$2.6MQ1 FY27
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q1 FY2710-QSep 3, 2026$113M+32%3.7%$2.6M−$8.8M
Q4 FY2610-KJun 17, 2026$178M+27%12.0%$16.2M$74.6M
Q3 FY2610-QMar 5, 2026$136M+17%4.9%$3.8M$20.5M
Q2 FY2610-QDec 4, 2025$125M-4%3.3%$1.9M$27.3M
Q1 FY2610-QSep 4, 2025$85.1M-4%-3.5%−$3.4M−$8.1M
Q4 FY2510-KJun 20, 2025$141M-12%10.4%$9.7M$40.8M
Q3 FY2510-QMar 6, 2025$116M-16%3.6%$1.7M−$9.8M

Charts

Smith & Wesson Brands: revenue growth, year over year and quarter over quarterSmith & Wesson Brands: revenue growth, year over year and quarter over quarterY/YQ/Q-16%Q3 FY25-12%+21%Q4 FY25-4%-40%Q1 FY26-4%+47%Q2 FY26+17%+9%Q3 FY26+27%+31%Q4 FY26+32%-37%Q1 FY27
Latest (Q1 FY27): Y/Y +32%, Q/Q -37%.
Smith & Wesson Brands: where the cash came from (+) and went (−), TTM to Q1 FY27Smith & Wesson Brands: where the cash came from (+) and went (−), TTM to Q1 FY27Operating cash flow$113MNet borrowing (+) / repaid (−)−$55.0MCapital spending−$31.4MDividends−$23.3MOther investing−$2.8MCash drawn (+) / kept (−)−$735KOther financing−$376KAsset & business sales$186K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Smith & Wesson Brands: profit against cash, quarter by quarterSmith & Wesson Brands: profit against cash, quarter by quarterNet incomeOperating cash flow$4.5M−$7.4MQ2 FY25$2.1M−$9.8MQ3 FY25$8.6M$40.8MQ4 FY25−$3.4M−$8.1MQ1 FY26$1.9M$27.3MQ2 FY26$3.8M$20.5MQ3 FY26$16.2M$74.6MQ4 FY26$2.6M−$8.8MQ1 FY27
Latest (Q1 FY27): Net income $2.6M, Operating cash flow −$8.8M.
Smith & Wesson Brands: diluted shares by fiscal yearSmith & Wesson Brands: diluted shares by fiscal year55MFY2148MFY220MFY230MFY240MFY250MFY26
-99.9% since FY21: buybacks shrank the count.
Smith & Wesson Brands in its industry: growth against margin (6 companies, SIC 3480)Smith & Wesson Brands in its industry: growth against margin (6 companies, SIC 3480)revenue growth, year over year →↑ operating marginmedian +28%median 4%AXONRGRNPKWRAPFBDTSWBI (+32%, 4%)
Ordnance & Accessories, (No Vehicles/Guided Missiles); dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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Customers and suppliers named in filings

Buys from

About Smith & Wesson Brands

Smith & Wesson Brands, Inc. (NASDAQ Global Select: SWBI) is a U.S.-based leader in firearm manufacturing and design, delivering a broad portfolio of quality handgun, long gun, and suppressor products to the global consumer and professional markets under the iconic Smith & Wesson® and Gemtech® brands. Additionally, the company provides manufacturing services such as forging and machining to third parties and offers world-class firearm training programs to Law Enforcement/Military departments and civilians at the Smith & Wesson Academy™ in Maryville, TN. For more information call (844) 363-5386 or visit www.smith-wesson.com .

In its own words, from its 8-K, filed Sep 3, 2026.

Smith & Wesson Brands against its Ordnance & Accessories, (No Vehicles/Guided Missiles) peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +32% against the peers' median +28%. Operating margin: 3.7% against the peers' median 4.1%.

CompanyQuarterRevenueY/YOp. margin
SWBI Smith & Wesson BrandsQ1 FY27$113M+32%3.7%
AXON Axon EnterpriseQ3 2026$909M+28%4.6%
RGR Sturm RugerQ3 2026$148M+16%4.1%
NPK National Presto IndustriesQ3 2026$144M+25%13.8%
WRAP Wrap TechnologiesQ2 2026$2.1M+103%-109.7%
FBDT First BreachQ2 2026$95K+0.1%n/m

Source: Smith & Wesson Brands 10-Q on SEC EDGAR · CIK 1092796 · Ordnance & Accessories, (No Vehicles/Guided Missiles)

13F: who owns SWBI and who is buying

Largest holders of SWBI (13F)Largest holders of SWBI (13F)BlackRock$61.5MDimensional Fund Advisors LP$40.3MRenaissance Technologies LLC$33.4MVanguard Capital Management LLC$28.6MTwo Sigma Investments, LP$26.5MVanguard Group$25.2MGeode Capital Management, LLC$19.8MCharles Schwab Investment Managem…$14.9MGoldman Sachs Group$14.7MState Street$14.1M
Funds' net buying of SWBI by quarter (13F)Funds' net buying of SWBI by quarter (13F)−$625K2024-09−$4.0M2024-12−$121K2025-03−$158K2025-06−$3.9M2025-09−$5.2M2025-12$36.6M2026-03$50.8M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on SWBI

History

Every quarter: Q1 FY27 results · Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results

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