SharkNinja Inc (NASDAQ:SN) saw its stock rise in Thursday’s premarket as the vacuum and airfryer maker, popularized via TikTok and Instagram recipes, released its first quarterly results as a public company – showing a 22% increase in sales.
Sales for SharkNinja’s second quarter came in at $950.3 million, up from $778.2 million in the preceding quarter. It reported an $11.9 million profit, which equated to 9 cents per share.
Albeit, following July’s float, the company noted that excluding one-offs the newly ‘spun-off’ group saw adjusted earnings of 47 cents per share.
Chief executive Mark Barrocas highlighted double-digit sales and EBITDA growth, and gave positive commentary for the coming quarter.
“We continue to increase market share in existing categories, pioneer new categories through innovation, and globalize our brand,” Barrocas said in a statement.
“These results build upon a proven track record of delivering profitable, organic growth through high-performance products that address everyday consumer challenges.
“Our recent debut as a public company in the US was an important milestone for us. However, we believe we are only just getting started.”
Looking to the full year, SharkNinja told investors it expects to grow sales by 9% to 11% and forecasts earnings in a range between $2.85 to $3.02 a share.
In New York, SharkNinja stock was up $2.53 or 7.8% in premarket deals, trading at $34.49.