What changed in this filing

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Item 1. Financial Statements

2026-08-07 compared with 2026-05-08 · 157 added, 119 removed, 567 unchanged (33% of the section changed)

1 unchanged sentence

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

Three Months Ended Six Months Ended

(thousands, except per share data) April 3, 2026 March 28, 2025 April 3, 2026 March 28, 2025

Three Months Ended Nine Months Ended

(thousands, except per share data) July 3, 2026 June 27, 2025 July 3, 2026 June 27, 2025

Net sales $ 189,731 $ 180,655 $ 525,146 $ 456,653

11 unchanged sentences

Income (loss) before income taxes 23,270 10,500 32,222 ( 4,269 )

Income tax expense (benefit) 798 1,854 2,843 ( 1,783 )

Income tax expense 8,322 2,758 11,165 975

Net income (loss) $ 14,948 $ 7,742 $ 21,057 $ ( 5,244 )

13 unchanged sentences

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

Three Months Ended Six Months Ended

(thousands) April 3, 2026 March 28, 2025 April 3, 2026 March 28, 2025

Three Months Ended Nine Months Ended

(thousands) July 3, 2026 June 27, 2025 July 3, 2026 June 27, 2025

Net income (loss) $ 14,948 $ 7,742 $ 21,057 $ ( 5,244 )

8 unchanged sentences

CONDENSED CONSOLIDATED BALANCE SHEETS

(thousands, except share data) April 3, 2026 October 3, 2025 March 28, 2025

(thousands, except share data) July 3, 2026 October 3, 2025 June 27, 2025

Current assets:

49 unchanged sentences

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY

Six Months Ended April 3, 2026

Nine Months Ended July 3, 2026

(thousands except for shares) Shares Common Stock Capital in

21 unchanged sentences

BALANCE AT April 3, 2026 10,474,692 $ 526 $ 93,616 $ 321,039 $ 6,815 $ ( 3,111 )

Net income — — — 14,948 — —

Dividends declared — — — ( 3,428 ) — —

Award of non-vested shares 6,597 — — — —

Stock-based compensation — — 955 — — —

Currency translation adjustment — — — — ( 733 ) —

Change in pension plans, net of tax — — — — 8 —

BALANCE AT JULY 3, 2026 10,481,289 $ 526 $ 94,571 $ 332,559 $ 6,090 $ ( 3,111 )

JOHNSON OUTDOORS INC.

Six Months Ended March 28, 2025

Nine Months Ended June 27, 2025

(thousands except for shares) Shares Common Stock Capital in

23 unchanged sentences

BALANCE AT MARCH 28, 2025 10,366,060 $ 521 $ 91,599 $ 349,872 $ 2,193 $ ( 3,083 )

Net income — — — 7,742 — —

Dividends declared — — — ( 3,409 ) — —

Issuance of stock under employee stock purchase plan 6,203 — 120 — —

Stock-based compensation — — ( 284 ) — — —

B to A conversion — — ( 13 ) — — —

Tax effects on stock based awards — — — — — —

Non-vested stock forfeitures — — — — — 13

Currency translation adjustment — — — — 5,192 —

Unrealized gain (loss) on available-for-sale securities, net of tax — — — — ( 8 ) —

Change in pension plans, net of tax of $ 2

BALANCE AT JUNE 27, 2025 10,372,263 $ 521 $ 91,422 $ 354,205 $ 7,386 $ ( 3,070 )

The accompanying notes are an integral part of the condensed consolidated financial statements.

1 unchanged sentence

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

Six Months Ended

(thousands) April 3, 2026 March 28, 2025

CASH USED FOR OPERATING ACTIVITIES

Nine Months Ended

(thousands) July 3, 2026 June 27, 2025

CASH PROVIDED BY OPERATING ACTIVITIES

Net income (loss) $ 21,057 $ ( 5,244 )

Adjustments to reconcile net income (loss) to net cash used for operating activities:

Adjustments to reconcile net income (loss) to net cash provided by operating activities:

Depreciation 14,545 14,872

20 unchanged sentences

CASH USED FOR FINANCING ACTIVITIES

Common stock transactions — 121

Debt issuance costs paid — ( 55 )

3 unchanged sentences

Effect of foreign currency rate changes on cash ( 1,502 ) 527

Decrease in cash and cash equivalents ( 68,523 ) ( 55,862 )

(Decrease) Increase in cash and cash equivalents ( 1,154 ) 13,193

CASH AND CASH EQUIVALENTS

12 unchanged sentences

In the opinion of management, these statements contain all adjustments (consisting of only normal recurring items) necessary to present fairly the financial position of Johnson Outdoors Inc.

and subsidiaries (collectively, the “Company”) as of April 3, 2026 and March 28, 2025, and their results of operations for the three and six month periods then ended and cash flows for the six month periods then ended.

and subsidiaries (collectively, the “Company”) as of July 3, 2026 and June 27, 2025, and their results of operations for the three and nine month periods then ended and cash flows for the nine month periods then ended.

These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended October 3, 2025 which was filed with the Securities and Exchange Commission on December 12, 2025.

1 unchanged sentence

2 ACCOUNTS RECEIVABLE

Accounts receivable are stated net of allowances for credit losses of $ 1,234 , $ 1,232 and $ 692 as of April 3, 2026, October 3, 2025 and March 28, 2025, respectively.

Accounts receivable are stated net of allowances for credit losses of $ 1,423 , $ 1,232 and $ 670 as of July 3, 2026, October 3, 2025 and June 27, 2025, respectively.

The determination of the allowance for credit losses is based on a combination of factors.

12 unchanged sentences

In periods where there is a cumulative year to date net loss or no undistributed income because distributions through dividends exceed net income, Class B shares are treated as anti-dilutive and, therefore, net losses are allocated equally on a per share basis among all participating securities.

For the three month period ended April 3, 2026, basic income per share for the class A and Class B shares has been presented using the two class method and reflects the allocation of undistributed income described above.

For the six month period ended April 3, 2026 and the three and six month periods ended March 28, 2025, basic net income (loss) per share for Class A and Class B shares was the same because there were no cumulative undistributed earnings.

For the three and nine month periods ended July 3, 2026 and the three month period ended June 27, 2025, basic income per share for the Class A and Class B shares has been presented using the two class method and reflects the allocation of undistributed income described above.

For the nine month period ended June 27, 2025, basic net loss per share for Class A and Class B shares was the same because there were no cumulative undistributed earnings.

Diluted net income per share is computed by dividing allocated net income by the weighted-average number of common shares outstanding, adjusted for the effect of dilutive stock options, restricted stock units (“stock units” or “units”) and non-vested restricted stock.

5 unchanged sentences

In periods where the Company reports a net loss or no undistributed income because distributions through dividends exceed net income, the effect of anti-dilutive stock options and units is excluded and diluted loss per share is equal to basic loss per share for both classes of stock.

For the three month period ended April 3, 2026, diluted net income per share reflects the effect of dilutive stock units and assumes the conversion of Class B common stock into Class A common stock.

For the six month period ended April 3, 2026 and the three and six month periods ended March 28, 2025, the effect of non-vested restricted stock units is excluded from the diluted income (loss) per share calculation as their inclusion would have been anti-dilutive.

Shares of non-vested stock that could potentially dilute earnings per share in the future which were not included in the fully diluted computation because they would have been anti-dilutive totaled 164,187 and 69,486 for the three months ended April 3, 2026 and March 28, 2025, respectively, and 152,639 and 64,525 for the six months ended April 3, 2026 and March 28, 2025, respectively.

Stock units that could potentially dilute earnings per share in the future and which were not included in the fully diluted computation because they would have been anti-dilutive were 58,192 and 105,840 for the three months ended April 3, 2026 and March 28, 2025, respectively, and 61,749 and 101,625 for the six months ended April 3, 2026 and March 28, 2025, respectively.

For the three and nine month periods ended July 3, 2026 and the three month period ended June 27, 2025, diluted net income per share reflects the effect of dilutive stock units and assumes the conversion of Class B common stock into Class A common stock.

For the nine month period ended June 27, 2025, the effect of non-vested restricted stock units is excluded from the diluted loss per share calculation as their inclusion would have been anti-dilutive.

Shares of non-vested stock that could potentially dilute earnings per share in the future which were not included in the fully diluted computation because they would have been anti-dilutive totaled 156,842 and 95,654 for the three months ended July 3, 2026 and June 27, 2025, respectively, and 154,040 and 80,507 for the nine months ended July 3, 2026 and June 27, 2025, respectively.

Stock units that could potentially dilute earnings per share in the future and which were not included in the fully diluted computation because they would have been anti-dilutive were 48,517 and 102,291 for the three months ended July 3, 2026 and June 27, 2025, respectively, and 57,945 and 101,638 for the nine months ended July 3, 2026 and June 27, 2025, respectively.

Dividends per share

Dividends per share for the three and six month periods ended April 3, 2026 and March 28, 2025 were as follows:

Three Months Ended Six months ended

April 3, 2026 March 28, 2025 April 3, 2026 March 28, 2025

Dividends per share for the three and nine month periods ended July 3, 2026 and June 27, 2025 were as follows:

Three Months Ended Nine Months Ended

July 3, 2026 June 27, 2025 July 3, 2026 June 27, 2025

Dividends declared per common share:

4 unchanged sentences

Current plans also allow for issuance of shares of restricted stock, restricted stock units or stock appreciation rights in lieu of stock options.

Under the Company’s 2023 Non-Employee Director Stock Ownership Plan and the 2020 Long-Term Incentive Plan (the only plans where shares currently remain available for future equity incentive awards) there were a total of 652,329 shares of the Company’s Class A common stock available for future grant to non-employee directors and key executives at April 3, 2026.

Under the Company’s 2023 Non-Employee Director Stock Ownership Plan and the 2020 Long-Term Incentive Plan (the only plans where shares currently remain available for future equity incentive awards) there were a total of 645,732 shares of the Company’s Class A common stock available for future grant to non-employee directors and key executives at July 3, 2026.

Share awards previously made under the Company's 2012 Non-Employee Director Stock Ownership Plan, which no longer allow for additional share grants, also remain outstanding.

3 unchanged sentences

JOHNSON OUTDOORS INC.

A summary of non-vested stock activity for the six months ended April 3, 2026 related to the Company’s stock ownership plans is as follows:

A summary of non-vested stock activity for the nine months ended July 3, 2026 related to the Company’s stock ownership plans is as follows:

Shares Weighted Average

2 unchanged sentences

Restricted stock vested ( 39,223 ) 36.27

Non-vested stock at April 3, 2026 156,552 43.41

Non-vested stock at July 3, 2026 163,149 43.50

Non-vested stock grantees may elect to reimburse the Company for withholding taxes due as a result of the vesting of shares by tendering a portion of the vested shares back to the Company.

Shares tendered back to the Company were 2,068 and 1,609 during the six month periods ended April 3, 2026 and March 28, 2025, respectively.

Stock compensation expense, net of forfeitures, related to non-vested stock was $ 777 and $ 462 for the three month periods ended April 3, 2026 and March 28, 2025, respectively, and $ 1,421 and $ 816 for the six month periods ended April 3, 2026 and March 28, 2025, respectively.

Unrecognized compensation cost related to non-vested stock as of April 3, 2026 was $ 4,676 , which amount will be amortized to expense through December 2028 or adjusted for changes in future estimated or actual forfeitures.

The fair value of restricted stock vested during the six month periods ended April 3, 2026 and March 28, 2025 was $ 276 and $ 690 , respectively.

Shares tendered back to the Company were 2,068 and 1,609 during the nine month periods ended July 3, 2026 and June 27, 2025, respectively.

Stock compensation expense, net of forfeitures, related to non-vested stock was $ 769 and $ 462 for the three month periods ended July 3, 2026 and June 27, 2025, respectively, and $ 2,189 and $ 1,278 for the nine month periods ended July 3, 2026 and June 27, 2025, respectively.

Unrecognized compensation cost related to non-vested stock as of July 3, 2026 was $ 4,209 , which amount will be amortized to expense through December 2028 or adjusted for changes in future estimated or actual forfeitures.

The fair value of restricted stock vested during the nine month periods ended July 3, 2026 and June 27, 2025 was $ 1,894 and $ 690 , respectively.

Restricted Stock Units

2 unchanged sentences

The fair value at the date of grant is based on the number of units granted and the average of the Company’s high and low Class A common stock trading price on the date of grant or, if the Company’s Class A shares did not trade on the date of grant, the average of the Company’s high and low Class A common stock trading price on the last preceding date on which the Company’s Class A shares traded.

A summary of RSU activity for the six months ended April 3, 2026 follows:

A summary of RSU activity for the nine months ended July 3, 2026 follows:

Number of RSUs Weighted Average

2 unchanged sentences

RSUs vested and canceled due to performance targets not being met ( 31,250 ) 56.54

RSUs at April 3, 2026 118,902 40.73

The Company recognized expense related to RSUs of $ 171 and $ 160 for the three month periods ended April 3, 2026 and March 28, 2025, respectively, and $ 333 and $ 276 for the six month periods ended April 3, 2026 and March 28, 2025, respectively.

Unrecognized compensation cost related to non-vested RSUs as of April 3, 2026 was $ 1,592 , which amount will be amortized to expense through September 2028 or adjusted for changes in future estimated or actual forfeitures.

RSUs at July 3, 2026 118,902 40.73

The Company recognized expense related to RSUs of $ 187 and $ 520 for the three and nine month periods ended July 3, 2026, respectively.

The Company recognized income related to RSUs of $ 660 and $ 384 for the three and nine month periods ended June 27, 2025, respectively, as a result of reversing compensation expense previously recognized due to an expectation that performance conditions would not be met for certain awards.

Unrecognized compensation cost related to non-vested RSUs as of July 3, 2026 was $ 1,617 , which amount will be amortized to expense through September 2028 or adjusted for changes in future estimated or actual forfeitures.

RSU grantees may elect to reimburse the Company for withholding taxes due as a result of the vesting of units and issuance of unrestricted shares of Class A common stock by tendering a portion of such unrestricted shares back to the Company.

Shares tendered back to the Company for this purpose were 0 during both of the six month periods ended April 3, 2026 and March 28, 2025.

The fair value of restricted stock units recognized as a tax deduction during the six month periods ended April 3, 2026 and March 28, 2025 was $ 0 and $ 0 , respectively.

Shares tendered back to the Company for this purpose were 0 during both of the nine month periods ended July 3, 2026 and June 27, 2025.

JOHNSON OUTDOORS INC.

The fair value of restricted stock units recognized as a tax deduction during the nine month periods ended July 3, 2026 and June 27, 2025 was $ 0 and $ 0 , respectively.

Compensation expense related to units earned by employees (as opposed to grants to outside directors) is based upon the attainment of certain pre-determined financial performance goals for the Company.

13 unchanged sentences

Prior to termination, this plan provided for the issuance of shares of Class A common stock at a purchase price of not less than 85 % of the fair market value of such shares on the date of grant or on the date of purchase, whichever is lower.

During the three and six month periods ended April 3, 2026, the Company issued 0 shares of Class A common stock and recognized $ 0 of income in connection with the Employees' Stock Purchase Plan.

During the three month period ended March 28, 2025, the Company issued 0 shares of Class A common stock and recognized $ 128 of expense in connection with this plan.

During the six month period ended March 28, 2025, the Company issued 0 shares of Class A common stock and recognized $ 165 of expense in connection with this plan.

During the three and nine month periods ended July 3, 2026, the Company issued 0 shares of Class A common stock and recognized $ 0 of income in connection with the Employees' Stock Purchase Plan.

During the three month period ended June 27, 2025, the Company issued 6,203 shares of Class A common stock and recognized $ 86 of expense in connection with this plan.

During the nine month period ended June 27, 2025, the Company issued 6,203 shares of Class A common stock and recognized $ 79 of expense in connection with this plan.

The Company leases certain facilities and machinery and equipment under long-term, non-cancelable operating leases.

The Company determines if an arrangement is a lease at inception.

As of April 3, 2026, the Company had approximately 150 leases, with remaining terms ranging from less than one year to 14 years.

As of July 3, 2026, the Company had approximately 150 leases, with remaining terms ranging from less than one year to 14 years.

Some of the leases contain variable payment terms, such as payments based on fluctuations in the Consumer Price Index (CPI).

4 unchanged sentences

The incremental borrowing rate is derived from information available to the Company at the lease commencement date based on lease length and location.

The components of lease expense recognized in the accompanying Condensed Consolidated Statements of Operations for the three and six months ended April 3, 2026 and March 28, 2025 were as follows:

The components of lease expense recognized in the accompanying Condensed Consolidated Statements of Operations for the three and nine months ended July 3, 2026 and June 27, 2025 were as follows:

JOHNSON OUTDOORS INC.

Three months ended Six months ended

April 3, 2026 March 28, 2025 April 3, 2026 March 28, 2025

Three months ended Nine Months Ended

July 3, 2026 June 27, 2025 July 3, 2026 June 27, 2025

Operating lease costs $ 2,832 $ 2,680 $ 8,174 $ 7,951

2 unchanged sentences

Total lease cost $ 3,317 $ 3,292 $ 9,892 $ 9,790

Included in the amounts in the table above were rent expense to related parties of $ 314 and $ 627 for the three and six months ended April 3, 2026, respectively, and $ 313 and $ 627 for the three and six months ended March 28, 2025, respectively.

As of April 3, 2026, the Company did not have any finance leases or sublease agreements.

Included in the amounts in the table above were rent expense to related parties of $ 332 and $ 959 for the three and nine months ended July 3, 2026, respectively, and $ 314 and $ 941 for the three and nine months ended June 27, 2025, respectively.

As of July 3, 2026, the Company did not have any finance leases or sublease agreements.

Additionally, the Company does not have any leases in which it is the lessor.

While the Company extended or renewed various existing leases during the quarter, there were no significant new leases entered into during the quarter ended April 3, 2026.

As of April 3, 2026, the Company did not have any significant operating lease commitments that have not yet commenced.

While the Company extended or renewed various existing leases during the quarter, there were no significant new leases entered into during the quarter ended July 3, 2026.

As of July 3, 2026, the Company did not have any significant operating lease commitments that have not yet commenced.

Supplemental balance sheet, cash flow, and other information related to operating leases was as follows:

Six months ended

April 3, 2026 March 28, 2025

Nine Months Ended

July 3, 2026 June 27, 2025

Operating leases:

7 unchanged sentences

ROU assets obtained in exchange for lease liabilities $ 3,512 $ 4,147

Future minimum rental commitments under non-cancelable operating leases with an initial lease term in excess of one year at April 3, 2026 were as follows:

Future minimum rental commitments under non-cancelable operating leases with an initial lease term in excess of one year at July 3, 2026 were as follows:

JOHNSON OUTDOORS INC.

3 unchanged sentences

2027 1,590 10,537

2028 1,630 7,465

2029 1,679 5,864

2030 1,730 5,584

Thereafter 2,081 28,646

3 unchanged sentences

6 INCOME TAXES

For the three and six months ended April 3, 2026 and March 28, 2025, the Company’s earnings before income taxes, income tax expense and effective income tax rate were as follows:

Three Months Ended Six Months Ended

For the three and nine months ended July 3, 2026 and June 27, 2025, the Company’s earnings before income taxes, income tax expense and effective income tax rate were as follows:

Three Months Ended Nine Months Ended

(thousands, except tax rate data)

April 3, 2026 March 28, 2025 April 3, 2026 March 28, 2025

July 3, 2026 June 27, 2025 July 3, 2026 June 27, 2025

Income (Loss) before income taxes $ 23,270 $ 10,500 $ 32,222 $ ( 4,269 )

Income tax expense (benefit) 798 1,854 2,843 ( 1,783 )

Income tax expense 8,322 2,758 11,165 975

Effective income tax rate 35.8 % 26.3 % 34.7 % ( 22.8 ) %

The change in the Company’s effective tax rate for the three and six months ended April 3, 2026 compared to the three and six months ended March 28, 2025 was primarily due to an adjustment related to its U.S.

valuation allowance on deferred tax assets.

Additionally, the change was further driven by the geographic mix of profits or losses from a tax perspective in the current year.

The change in the Company’s effective tax rate for the three and nine months ended July 3, 2026 compared to the three and nine months ended June 27, 2025 was primarily due to the impact of U.S.

tariff refunds received increasing the U.S.

income and overall income tax expense during the period.

The Company's effective tax rate is impacted by valuation allowances in domestic and certain foreign tax jurisdictions and, as a result, changes in the geographic source of Company profits or losses between periods can, in certain instances, have varying impacts on the Company's effective tax rate during a particular period.

6 unchanged sentences

The impact of the Company’s operations in jurisdictions where a valuation allowance is assessed is removed from the overall effective tax rate methodology and recorded directly based on year-to-date results for the year for which no tax expense or benefit can be recognized.

The significant tax jurisdictions that have a valuation allowance for the periods ended April 3, 2026 and March 28, 2025 were:

April 3, 2026 March 28, 2025

The significant tax jurisdictions that have a valuation allowance for the periods ended July 3, 2026 and June 27, 2025 were:

July 3, 2026 June 27, 2025

Indonesia Indonesia

1 unchanged sentence

United States

JOHNSON OUTDOORS INC.

The Company regularly assesses the adequacy of its provisions for income tax contingencies in accordance with the applicable authoritative guidance on accounting for income taxes.

As a result, the Company may adjust the reserves for unrecognized tax benefits due to the impact of changes in its assumptions or as a result of new facts and developments, such as changes to interpretations of relevant tax law, assessments from taxing authorities, settlements with taxing authorities and lapses of statutes of limitation.

As a result, the Company may adjust the reserves

JOHNSON OUTDOORS INC.

for unrecognized tax benefits due to the impact of changes in its assumptions or as a result of new facts and developments, such as changes to interpretations of relevant tax law, assessments from taxing authorities, settlements with taxing authorities and lapses of statutes of limitation.

In accordance with its accounting policy, the Company recognizes accrued interest and penalties related to unrecognized benefits as a component of income tax expense.

5 unchanged sentences

2026 October 3,

2025 March 28,

2025 June 27,

Raw materials $ 79,853 $ 90,993 $ 85,956

1 unchanged sentence

$ 188,263 $ 170,726 $ 163,732

The changes in goodwill during the six months ended April 3, 2026 and March 28, 2025 were as follows:

April 3, 2026 March 28, 2025

The changes in goodwill during the nine months ended July 3, 2026 and June 27, 2025 were as follows:

July 3, 2026 June 27, 2025

Balance at beginning of period $ 10,456 $ —

2 unchanged sentences

Balance at end of period $ 11,048 $ 10,162

The goodwill at April 3, 2026 relates to the acquisition of Endless Summer Technologies Proprietary, Ltd.

The goodwill at July 3, 2026 relates to the acquisition of Endless Summer Technologies Proprietary, Ltd.

in the Company's Diving segment.

4 unchanged sentences

The Company provides warranties on certain of its products as they are sold.

The following table summarizes the Company’s warranty activity for the six months ended April 3, 2026 and March 28, 2025.

JOHNSON OUTDOORS INC.

April 3, 2026 March 28, 2025

The following table summarizes the Company’s warranty activity for the nine months ended July 3, 2026 and June 27, 2025.

July 3, 2026 June 27, 2025

Balance at beginning of period $ 12,149 $ 10,211

2 unchanged sentences

Balance at end of period $ 15,269 $ 12,443

JOHNSON OUTDOORS INC.

10 CONTINGENCIES

2 unchanged sentences

Although litigation is subject to many uncertainties and the ultimate exposure with respect to these matters cannot be ascertained, management does not believe the final outcome of any pending litigation will have a material adverse effect on the financial condition, results of operations, liquidity or cash flows of the Company.

In February 2026, the United States Supreme Court ruled that certain tariffs imposed under the International Emergency Economic Powers Act (“IEEPA”) were not authorized by statute.

Following the ruling, the U.S.

Court of International Trade ordered U.S.

Customs and Border Protection (“CBP”) to suspend collection of such tariffs and to establish a process to refund amounts previously collected.

During the third fiscal quarter, the Company filed refund claims with CBP related to eligible tariff payments previously paid on imports in fiscal 2025 and early 2026.

As of July 3, 2026, the Company received $ 15,600 , representing refunds of substantially all claims submitted.

Exclusive of an immaterial amount of interest, the refunds were recognized as a reduction of cost of goods sold in the Company's condensed consolidated statements of operations for the three and six months ended July 3, 2026.

Following these rulings, new tariffs were imposed under other laws in addition to existing non-IEEPA tariffs.

We continue to analyze the impact of changes in tariffs and what steps, if any, we may take to mitigate their impact.

11 INDEBTEDNESS

The Company had no debt outstanding at April 3, 2026, October 3, 2025, or March 28, 2025.

The Company had no debt outstanding at July 3, 2026, October 3, 2025, or June 27, 2025.

The Company and certain of its subsidiaries entered into an unsecured credit facility with PNC Bank National Association and Associated Bank, N.A.

("the Lending Group").

("the Lending Group") dated as of November 15, 2017.

This credit facility consisted of a $ 75 million Revolving Credit Facility among the Company, certain of the Company’s subsidiaries, PNC Bank National Association, as lender and as administrative agent, and the other lender named therein (as amended, the “Credit Agreement” or “Revolver”).

6 unchanged sentences

• Borrowings under the new Credit Agreement are secured generally by substantially all of the personal property of the Company and the subsidiary borrowers.

The new credit facility requires springing borrowing base certificate requirements if the availability under the facility is less than $ 25 million;

• The new Credit Agreement provides the Company with the option to request additional increases in the revolving credit facility for an additional aggregate amount of $ 50 million (i.e., an aggregate borrowing amount of $ 100 million) subject to the conditions of the Credit Agreement and subject to the approval of the Lenders;

• Interest is payable under the new Credit Agreement, at the Company’s option, based upon an overnight bank rate, SOFR or the prime rate plus an applicable margin and it resets the interest rate calculation at the Company’s option on an either one, three or six month basis by instituting an applicable margin based on the Company’s net leverage ratio (net of up to $ 25 million in unrestricted cash and cash equivalents on hand) for the trailing twelve month period.

The applicable SOFR margin ranges from 1.25 percent to 2.00 percent;

The restated credit facility requires springing borrowing base certificate requirements if the availability under the facility is less than $ 25 million;

• The restated Credit Agreement provides the Company with the option to request additional increases in the revolving credit facility for an additional aggregate amount of $ 50 million (i.e., an aggregate borrowing amount of $ 100 million) subject to the conditions of the Credit Agreement and subject to the approval of the Lenders;

• Interest is payable under the restated Credit Agreement, at the Company’s option, based upon an overnight bank rate, SOFR or the prime rate plus an applicable margin and it resets the interest rate calculation at the

JOHNSON OUTDOORS INC.

• The new Credit Agreement requires the Company to maintain a net leverage ratio of less than 3 :00 to 1.00 and an interest coverage ratio of not less than 3.50 :

Company’s option on an either one, three or six month basis by instituting an applicable margin based on the Company’s net leverage ratio (net of up to $ 25 million in unrestricted cash and cash equivalents on hand) for the trailing twelve month period.

The applicable SOFR margin ranges from 1.25 percent to 2.00 percent;

• The restated Credit Agreement requires the Company to maintain a net leverage ratio of less than 3 :00 to 1.00 and an interest coverage ratio of not less than 3.50 :

1.00, each tested on a quarterly basis;

• The new Credit Agreement restricts the Company’s ability to incur additional debt and engage in certain asset or stock acquisitions or dispositions and includes maximum leverage ratio and minimum interest coverage ratio covenants.

The interest rates on the Revolver at April 3, 2026 and March 28, 2025 were approximately 4.8 % and 5.4 %, respectively.

• The restated Credit Agreement restricts the Company’s ability to incur additional debt and engage in certain asset or stock acquisitions or dispositions and includes maximum leverage ratio and minimum interest coverage ratio covenants.

The interest rates on the Revolver at July 3, 2026 and June 27, 2025 were approximately 4.8 % and 5.4 %, respectively.

Other Borrowings

The Company had no unsecured revolving credit facilities at its foreign subsidiaries as of April 3, 2026 or March 28, 2025.

The Company utilizes letters of credit primarily as security for the payment of future claims under its workers’ compensation insurance, which totaled approximately $ 51 and $ 67 as of April 3, 2026 and March 28, 2025, respectively.

The Company had no unsecured revolving credit facilities at its foreign subsidiaries as of July 3, 2026 or June 27, 2025.

12 FAIR VALUE MEASUREMENTS

8 unchanged sentences

These inputs reflect the reporting entity’s own assumptions of the data that market participants would use in pricing the asset or liability, based on the best information available in the circumstances.

The carrying amounts of accounts receivable, accounts payable and accrued expenses approximated their fair values at April 3, 2026, October 3, 2025 and March 28, 2025 due to the short term maturities of these instruments.

The carrying amounts of accounts receivable, accounts payable and accrued expenses approximated their fair values at July 3, 2026, October 3, 2025 and June 27, 2025 due to the short term maturities of these instruments.

See Note 13 for discussion of fair value of cash and cash equivalents.

9 unchanged sentences

Marketable securities are classified as available-for-sale, with fair values determined using significant other observable inputs, which include quoted prices in markets that are not active, quoted prices of similar securities, recently executed transactions, broker quotations, and other inputs that are observable.

The following table summarizes the Company’s financial assets measured at fair value as of April 3, 2026:

JOHNSON OUTDOORS INC.

The following table summarizes the Company’s financial assets measured at fair value as of July 3, 2026:

Level 1 Level 2 Level 3 Total

7 unchanged sentences

Total $ 30,681 $ — $ — $ 30,681

The following table summarizes the Company’s financial assets measured at fair value as of March 28, 2025:

The following table summarizes the Company’s financial assets measured at fair value as of June 27, 2025:

Level 1 Level 2 Level 3 Total

2 unchanged sentences

Total $ 28,617 $ 2,331 $ — $ 30,948

The effect of changes in the fair value of financial instruments on the accompanying Condensed Consolidated Statements of Operations for the three and six month periods ended April 3, 2026 and March 28, 2025 was:

Three Months Ended Six months ended

Location of income recognized in Statement of Operations April 3, 2026 March 28, 2025 April 3, 2026 March 28, 2025

The effect of changes in the fair value of financial instruments on the accompanying Condensed Consolidated Statements of Operations for the three and nine month periods ended July 3, 2026 and June 27, 2025 was:

Three Months Ended Nine Months Ended

Location of income recognized in Statement of Operations July 3, 2026 June 27, 2025 July 3, 2026 June 27, 2025

Rabbi trust assets Other income (expense), net $ 3,247 $ 2,407 $ 1,544 $ ( 358 )

There were no assets or liabilities measured at fair value on a non-recurring basis in periods subsequent to their initial recognition for either of the six month periods ended April 3, 2026 or March 28, 2025.

There were no assets or liabilities measured at fair value on a non-recurring basis in periods subsequent to their initial recognition for either of the nine month periods ended July 3, 2026 or June 27, 2025.

13 CASH, CASH EQUIVALENTS, AND MARKETABLE SECURITIES

4 unchanged sentences

A summary of the amortized costs and fair values of the Company’s marketable securities at the end of the period presented is shown in the following table.

All of the Company’s marketable securities are classified as Level 2, as defined by FASB ASC 820, with fair values determined using significant other observable inputs, which include quoted prices in markets that are not active, quoted prices of similar securities, recently executed transactions, broker quotations, and other inputs that are observable.

JOHNSON OUTDOORS INC.

There were no marketable securities held as of April 3, 2026 or October 3, 2025.

The following table summarizes the Company’s marketable securities measured at fair value as of March 28, 2025:

not active, quoted prices of similar securities, recently executed transactions, broker quotations, and other inputs that are observable.

There were no marketable securities held as of July 3, 2026 or October 3, 2025.

The following table summarizes the Company’s marketable securities measured at fair value as of June 27, 2025:

Amortized Cost Fair Value Gross unrealized gains Gross unrealized losses

1 unchanged sentence

Total $ 2,326 $ 2,331 $ 5 $ —

There were no purchases or sales of available-for-sale securities during the six month periods ended April 3, 2026 or March 28, 2025, respectively.

Proceeds from the maturities of available-for-sale securities were $ 0 and $ 11,826 for the six month period ended April 3, 2026 and March 28, 2025, respectively.

There were no purchases or sales of available-for-sale securities during the nine month periods ended July 3, 2026 or June 27, 2025, respectively.

Proceeds from the maturities of available-for-sale securities were $ 0 and $ 14,021 for the nine month period ended July 3, 2026 and June 27, 2025, respectively.

No unrealized gains or losses were reclassified out of accumulated other comprehensive income during the same periods.

At March 28, 2025, contractual maturities were all within one year from the period end and therefore were classified as Short term investments on the accompanying Condensed Consolidated Balance Sheets.

At June 27, 2025, contractual maturities were all within one year from the period end and therefore were classified as Short term investments on the accompanying Condensed Consolidated Balance Sheets.

14 NEW ACCOUNTING PRONOUNCEMENTS

25 unchanged sentences

The Company is currently evaluating the impacts of ASU 2023-09 on its income tax disclosures.

Adoption is expected to result in expanded qualitative and quantitative disclosures in the Company’s annual financial statements,

JOHNSON OUTDOORS INC.

including increased disaggregation within the effective tax rate reconciliation and additional detail related to income taxes paid by jurisdiction.

is expected to result in expanded qualitative and quantitative disclosures in the Company’s annual financial statements, including increased disaggregation within the effective tax rate reconciliation and additional detail related to income taxes paid by jurisdiction.

The Company does not expect the adoption of ASU 2023-09 to have a material impact on its consolidated financial position, results of operations, or cash flows.

20 unchanged sentences

The Company provides customers the right to return eligible products under certain circumstances.

At April 3, 2026, the right to returns asset was $ 1,447 and the accrued returns liability was $ 3,782 .

At March 28, 2025, the right to returns asset was $ 1,615 and the accrued returns liability was $ 4,283 .

At July 3, 2026, the right to returns asset was $ 1,186 and the accrued returns liability was $ 3,078 .

At June 27, 2025, the right to returns asset was $ 1,447 and the accrued returns liability was $ 3,783 .

The Company also offers assurance-type warranties relating to its products sold to end customers that continue to be accounted for under ASC 460 Guarantees.

20 unchanged sentences

JOHNSON OUTDOORS INC.

Three Months Ended April 3, 2026 Fishing Camping & Watercraft Recreation Diving Other/Corporate Total

Three Months Ended July 3, 2026 Fishing Camping & Watercraft Recreation Diving Other/Corporate Total

Unaffiliated customers $ 149,522 $ 16,395 $ 23,313 $ 501 $ 189,731

5 unchanged sentences

Administrative management, finance and information systems expense 2,837 1,224 3,205 9,832 17,098

Goodwill impairment — — — — —

Research and development expense 6,513 720 1,229 221 8,683

3 unchanged sentences

Total assets (end of period) $ 313,031 $ 74,889 $ 95,798 $ 164,652 $ 648,370

Three Months Ended March 28, 2025 Fishing Camping & Watercraft Recreation Diving Other/Corporate Total

Three Months Ended June 27, 2025 Fishing Camping & Watercraft Recreation Diving Other/Corporate Total

Unaffiliated customers $ 140,243 $ 18,884 $ 21,197 $ 331 $ 180,655

5 unchanged sentences

Administrative management, finance and information systems expense 2,255 1,076 3,781 8,311 15,423

Goodwill impairment — — — — —

Research and development expense 5,666 717 1,238 — 7,621

4 unchanged sentences

JOHNSON OUTDOORS INC.

Six Months Ended April 3, 2026 Fishing Camping & Watercraft Recreation Diving Other/Corporate Total

Nine Months Ended July 3, 2026 Fishing Camping & Watercraft Recreation Diving Other/Corporate Total

Unaffiliated customers $ 420,254 $ 45,019 $ 58,602 $ 1,271 $ 525,146

5 unchanged sentences

Administrative management, finance and information systems expense 8,402 3,317 8,586 23,254 43,559

Goodwill impairment — — — — —

Research and development expense 18,917 2,025 3,780 390 25,112

3 unchanged sentences

Total assets (end of period) $ 313,031 $ 74,889 $ 95,798 $ 164,652 $ 648,370

Six Months Ended March 28, 2025 Fishing Camping & Watercraft Recreation Diving Other/Corporate Total

Nine Months Ended June 27, 2025 Fishing Camping & Watercraft Recreation Diving Other/Corporate Total

Unaffiliated customers $ 357,138 $ 46,153 $ 52,691 $ 671 $ 456,653

5 unchanged sentences

Administrative management, finance and information systems expense 7,850 3,236 11,559 18,489 41,134

Goodwill impairment — — — — —

Research and development expense 17,645 1,943 3,681 — 23,269

4 unchanged sentences

Other Segment Information

During the three and six month periods ended April 3, 2026, one customer of the Company's Fishing and Camping & Watercraft Recreation segments accounted for more than 10% of the Company's consolidated revenues, which amounted to sales of approximately $ 49,314 and $ 79,679 , respectively.

During the three and six month periods ended March 28, 2025, two customers of the Company's Fishing and Camping & Watercraft Recreation segments each accounted for more than 10% of the Company's consolidated revenues, which amounted to sales of approximately $ 63,291 and $ 87,549 , respectively.

During the three and nine month periods ended July 3, 2026, one customer of the Company's Fishing and Camping & Watercraft Recreation segments accounted for more than 10% of the Company's consolidated revenues, which amounted to sales of approximately $ 28,573 and $ 108,252 , respectively.

During the three and nine month periods ended June 27, 2025, one customer of the Company's Fishing and Camping & Watercraft Recreation segments each accounted for more than 10% of the Company's consolidated revenues, which amounted to sales of approximately $ 34,171 and $ 95,215 , respectively.

17 ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

The changes in Accumulated Other Comprehensive Income (“AOCI”) by component, net of tax, for the six months ended April 3, 2026 were as follows:

The changes in Accumulated Other Comprehensive Income (“AOCI”) by component, net of tax, for the nine months ended July 3, 2026 were as follows:

JOHNSON OUTDOORS INC.

6 unchanged sentences

Balance at October 3, 2025 $ 7,356 $ — $ ( 67 ) $ 7,289

Other comprehensive loss before reclassifications 1,095 — — 1,095

Other comprehensive income before reclassifications 1,095 — — 1,095

Amounts reclassified from accumulated other comprehensive income — — 11 11

1 unchanged sentence

Balance at January 2, 2026 $ 8,451 $ — $ ( 59 ) $ 8,392

Other comprehensive income before reclassifications ( 1,584 ) — — ( 1,584 )

Other comprehensive loss before reclassifications ( 1,584 ) — — ( 1,584 )

Amounts reclassified from accumulated other comprehensive income — — 9 9

1 unchanged sentence

Balance at April 3, 2026 $ 6,867 $ — $ ( 52 ) $ 6,815

The changes in AOCI by component, net of tax, for the six months ended March 28, 2025 were as follows:

Other comprehensive loss before reclassifications ( 733 ) — — ( 733 )

Amounts reclassified from accumulated other comprehensive income — — 11 11

Tax effects — — ( 3 ) ( 3 )

Balance at July 3, 2026 $ 6,134 $ — $ ( 44 ) $ 6,090

The changes in AOCI by component, net of tax, for the nine months ended June 27, 2025 were as follows:

Adjustment Unrealized gain (loss) on available-for sale securities Unamortized

9 unchanged sentences

Balance at December 27, 2024 $ 1,141 $ 16 $ ( 100 ) $ 1,057

Other comprehensive loss before reclassifications 1,133 ( 4 ) — 1,129

Other comprehensive income (loss) before reclassifications 1,133 ( 4 ) — 1,129

Amounts reclassified from accumulated other comprehensive income — — 10 10

1 unchanged sentence

Balance at March 28, 2025 $ 2,274 $ 12 $ ( 93 ) $ 2,193

The reclassifications out of AOCI for the three and six months ended April 3, 2026 and March 28, 2025 were as follows:

Three Months Ended Six Months Ended

April 3, 2026 March 28, 2025 April 3, 2026 March 28, 2025 Statement of Operations

Other comprehensive income (loss) before reclassifications 5,192 ( 8 ) — 5,184

Amounts reclassified from accumulated other comprehensive income — — 11 11

Tax effects — — ( 2 ) ( 2 )

Balance at June 27, 2025 $ 7,466 $ 4 $ ( 84 ) $ 7,386

The reclassifications out of AOCI for the three and nine months ended July 3, 2026 and June 27, 2025 were as follows:

JOHNSON OUTDOORS INC.

Three Months Ended Nine Months Ended

July 3, 2026 June 27, 2025 July 3, 2026 June 27, 2025 Statement of Operations

Unamortized loss on defined benefit pension plans:

4 unchanged sentences

On October 25, 2024, the Company acquired all the outstanding common stock of Endless Summer Technologies Proprietary, Ltd ("EST") and related patents and other assets used in EST's business and operations in a purchase transaction with EST's sole shareholder (the "Seller").

EST, based in Durban, South Africa, has been a long term

JOHNSON OUTDOORS INC.

supplier of products to the Company and it specializes in the design, development and manufacturing of scuba equipment through unique application of existing, new and emerging technologies.

EST, based in Durban, South Africa, has been a long-term supplier of products to the Company and it specializes in the design, development and manufacturing of scuba equipment through unique application of existing, new and emerging technologies.

The EST acquisition is included in the Company's Diving segment, and is expected to provide new innovative products, unlock synergies and enhance operating efficiencies for the Diving segment.

19 unchanged sentences

Pro forma financial information has not been presented because such amounts are not material to the unaudited condensed consolidated financial statements.

Total transaction costs incurred for the acquisition were approximately $ 635 , of which approximately $ 110 was recognized during the six months ended March 28, 2025, and the remainder was recognized in fiscal 2024.

JOHNSON OUTDOORS INC.

Total transaction costs incurred for the acquisition were approximately $ 635 , of which approximately $ 110 was recognized during the nine months ended June 27, 2025, and the remainder was recognized in fiscal 2024.

The costs are included in Administrative management, finance and information systems expenses in the accompanying Condensed Consolidated Statements of Operations.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements