ADDED
As of February 19, 2026, there were 41,802,281 shares of the registrant s common stock outstanding.
Description of our business We design, engineer, manufacture and market performance-defining products and systems used primarily on bikes, off-road vehicles and trucks, side-by-sides, on-road vehicles with and without off-road capabilities, ATVs, snowmobiles, and specialty vehicles and applications, and premium baseball and softball gear and equipment.
Seasonality Certain portions of our business are seasonal; we believe this seasonality is due to the delivery of new products.
Our products We design, engineer and manufacture performance-defining products, of which a significant portion are suspension products.
In each of the years ended January 2, 2026, January 3, 2025 and December 29, 2023, approximately 33%, 33% and 36%, respectively, of our net sales were attributable to net sales of powered vehicles related products.
In each of the years ended January 2, 2026, January 3, 2025 and December 29, 2023, approximately 32%, 30% and 38%, respectively, of our net sales were attributable to net sales of aftermarket applications related products.
We also offer lift kits and components with our shock products and aftermarket accessory packages for use in trucks, suspension tuning services and high-performance wheels, and off-road tires and accessories.
Specialty Sports Our bike product offerings are used on a wide range of performance mountain bikes, e-bikes and gravel bikes under the FOX, Race Face, Easton Cycling and Marzocchi brands.
In each of the years ended January 2, 2026, January 3, 2025 and December 29, 2023, approximately 35%, 37% and 26%, respectively, of our net sales were attributable to net sales of specialty sports-related products.
Research and development expenses totaled approximately $69.4 million, $60.3 million and $53.2 million in fiscal years 2025, 2024 and 2023, respectively.
REMOVED
As of February 20, 2025, there were 41,683,905 shares of the registrant s common stock outstanding.
Description of our business We are a designer, engineer, manufacturer and marketer of performance-defining products and systems used primarily on bikes, off-road vehicles and trucks, side-by-sides, on-road vehicles with and without off-road capabilities, ATVs, snowmobiles, and specialty vehicles and applications, and premium baseball and softball gear and equipment.
In March 2020, we acquired substantially all the issued and outstanding capital stock of SCA Performance Holdings, Inc.
( SCA ), a leading OEM authorized specialty vehicle manufacturer for light duty trucks and sport utility vehicles.
In May 2021, through our wholly owned subsidiary, SCA, we acquired all of the issued and outstanding stock of Manifest Joy LLC ( Outside Van ), a custom van conversion company that designs and custom engineers recreational vehicles.
In December 2021, through our wholly owned subsidiary, Shock Therapy Suspension, Inc., we acquired substantially all the assets of Shock Therapy LLC ( Shock Therapy ), a premier suspension tuning company in the off-road industry.
Improve operating and supply chain efficiencies In the fourth quarter of 2021, we completed the construction of an approximately 336,000 square foot state-of-the-art facility in Hall County, Georgia (the Gainesville Facility ) to diversify our manufacturing platform and provide additional long-term capacity to support growth in our Powered Vehicles Group.
The Gainesville Facility is used for manufacturing, warehousing, distribution and office space.
Additionally, we completed the transition of our Watsonville, California facility (the Watsonville Facility ) and the relocation of our powered vehicles suspension manufacturing to the Gainesville Facility in the first quarter of 2022.
These competitors can be divided into the following categories: Powered Vehicles Group ( PVG ) Within the market for off-road and specialty vehicle suspension components, we compete with ThyssenKrupp Bilstein Suspension GmbH (commonly known as Bilstein ), King Shock Technology, Inc.