SharkNinja (SN) used the Goldman Sachs Global Consumer and Retail Conference on Tuesday to outline how its 13th straight quarter of double-digit growth is being powered by a portfolio that now spans 41 product categories and addresses a roughly $125 billion to $130 billion total addressable market.
Shares traded at $160.80 at the time of the conference, extending a 69.6% return over six months and a 51.6% year-to-date gain. The stock carries a price-to-earnings ratio of 34 and a market capitalization of $23.45 billion.
Q2 fiscal 2026 revenue rose in the low 22% range year over year, prompting management to materially raise its full-year outlook. On a combined basis, overall revenue is tracking in the mid- to high-teens, while the core base business is growing in the mid- to high-single digits. Gross profit margin stands at nearly 49%, and the company generated $1.11 billion in EBITDA over the last twelve months.
A significant portion of that addressable market lies outside current offerings. The company added approximately $10 billion in TAM from water purification and microwave categories alone — $6 billion from water purification, where a 10% share would represent a $600 million business, and $4 billion from microwaves. Annual marketing and advertising spend exceeds $800 million.
On the distribution side, SharkNinja is rolling out rapidly. It launched TikTok Shop in France, Spain, Italy and Mexico in May 2026, following the platform's first product sale in August 2025. In the U.K., SharkNinja expects dollar-denominated revenue to surpass $1 billion in fiscal 2026. The company also completed a German distributor buyback and shifted Canada from a direct-import model to a warehouse buyout model, both at the end of Q2. Poland operations were taken over at the end of Q1.
Management signaled that small price increases and tariff preparations are expected late in 2026 and into 2027.
The competitive landscape, CEO Mark Barrocas said, extends well beyond home appliances. "I think we are competing against Olive Garden, and I think we are competing against Royal Caribbean," he said, arguing that SharkNinja competes for consumer discretionary spending rather than against rival appliance makers. He added that the core base is healthy — "we don't have a leaky bucket" — with additional growth layered on top.
Product launches continue at a fast clip. About 25 new products debut annually, including the Shark PowerDetect Transformer upright vacuum, Ninja HydraSense water purification system, Ninja Crispi Microwave, Shark BlastBoss blower, and the Shark CryoGlow skin-wellness line expanded in the U.K. An upcoming Ninja MultiPot cookware product and Shark AquaReach 2-in-1 floor cleaner were also noted.
On the technology front, SharkNinja partnered with Palantir for commercial optimization covering pricing, promotions and media analytics, and is using Salesforce Agentforce for DTC experience and customer-service AI agents. The company has hired 100 master's and Ph.D. students as co-ops for short-term AI projects, completing roughly 65 projects so far, with plans to formalize a permanent cohort of 100 people across Boston and London offices.
Revenue across major retail channels — Walmart, Target, Best Buy, Home Depot, Sephora, Mercado Libre, Allegro, Amazon, YouTube and Meta — supports the diverse monetization strategy.
Analysts referenced projected revenue growth of 17.5% for the period.
