American Outdoor Brands (AOUT) 10-Q 10 Mar 22 2022 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Jan. 31, 2022	Mar. 06, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jan. 31, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Entity Registrant Name	American Outdoor Brands, Inc.
Entity Central Index Key	0001808997
Current Fiscal Year End Date	--04-30
Entity Current Reporting Status	No
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Shell Company	false
Entity File Number	001-39366
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	84-4630928
Entity Address, Address Line One	1800 North Route Z
Entity Address, Address Line Two	Suite A
Entity Address, City or Town	Columbia
Entity Address, State or Province	MO
Entity Address, Postal Zip Code	65202
City Area Code	800
Local Phone Number	338-9585
Document Quarterly Report	true
Document Transition Report	false
Entity Common Stock, Shares Outstanding		13,352,149
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	AOUT
Security Exchange Name	NASDAQ

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jan. 31, 2022	Apr. 30, 2021
Current assets:
Cash and cash equivalents	$ 22,778	$ 60,801
Accounts receivable, net of allowance for credit losses of $104 on January 31, 2022 and $119 on April 30, 2021	45,346	37,487
Inventories	119,571	74,296
Prepaid expenses and other current assets	9,672	7,098
Income tax receivable	729	149
Total current assets	198,096	179,831
Property, plant, and equipment, net	13,623	10,992
Intangible assets, net	43,754	53,643
Goodwill	64,315	64,315
Right-of-use assets	24,310	25,375
Deferred income taxes	6,620	6,683
Other assets	668	424
Total assets	351,386	341,263
Current liabilities:
Accounts payable	20,454	16,021
Accrued expenses	13,867	9,843
Accrued payroll and incentives	3,818	6,774
Lease liabilities, current	1,846	1,771
Accrued profit sharing	928	1,933
Total current liabilities	40,913	36,342
Lease liabilities, net of current portion	23,513	24,780
Other non-current liabilities	39	236
Total liabilities	64,465	61,358
Commitments and contingencies (Note 11)
Equity:
Preferred stock, $0.001 par value, 20,000,000 shares authorized, no shares issued or outstanding
Common stock, $0.001 par value, 100,000,000 shares authorized, 14,188,033 shares issued and 13,823,635 shares outstanding on January 31, 2022 and 14,059,440 shares issued and outstanding on April 30, 2021	14	14
Additional paid in capital	267,583	265,362
Retained earnings	26,335	14,529
Treasury stock, at cost (364,398 shares on January 31, 2022)	(7,011)
Total equity	286,921	279,905
Total liabilities and equity	$ 351,386	$ 341,263

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Jan. 31, 2022	Apr. 30, 2021
Statement Of Financial Position [Abstract]
Allowance for credit losses	$ 104	$ 119
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, authorized	20,000,000	20,000,000
Preferred stock, Issued	0	0
Preferred stock, outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, authorized	100,000,000	100,000,000
Common stock, Issued	14,188,033	14,059,440
Common stock, outstanding	13,823,635	14,059,440
Treasury stock, shares	364,398

CONSOLIDATED AND COMBINED STATE

CONSOLIDATED AND COMBINED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2022	Jan. 31, 2021
Income Statement [Abstract]
Net sales (including $2.4 million of related party sales for the four months of our fiscal year 2021 prior to the Separation)	$ 70,105	$ 82,649	$ 201,633	$ 212,214
Cost of sales	38,010	45,276	107,518	114,038
Gross profit	32,095	37,373	94,115	98,176
Operating expenses:
Research and development	1,377	1,478	4,354	4,641
Selling, marketing, and distribution	15,627	15,121	44,490	41,426
General and administrative	10,366	10,591	31,020	29,899
Total operating expenses	27,370	27,190	79,864	75,966
Operating income	4,725	10,183	14,251	22,210
Other income/(expense), net:
Other income, net	258	141	1,004	352
Interest (expense)/income, net	(68)	(51)	(167)	341
Total other income, net	190	90	837	693
Income from operations before income taxes	4,915	10,273	15,088	22,903
Income tax expense	1,149	2,244	3,282	5,746
Net income/comprehensive income	$ 3,766	$ 8,029	$ 11,806	$ 17,157
Net income per share:
Basic	$ 0.27	$ 0.57	$ 0.84	$ 1.23
Diluted	$ 0.27	$ 0.56	$ 0.82	$ 1.20
Weighted average number of common shares outstanding:
Basic	14,054	13,999	14,091	13,987
Diluted	14,205	14,254	14,332	14,321

CONSOLIDATED AND COMBINED STA_2

CONSOLIDATED AND COMBINED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Parenthetical) (Unaudited) $ in Millions	4 Months Ended
	Jan. 31, 2021USD ($)
Income Statement [Abstract]
Related party sales	$ 2.4

CONSOLIDATED AND COMBINED STA_3

CONSOLIDATED AND COMBINED STATEMENTS OF EQUITY (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Former Net Parent Company Investment	Additional Paid-In Capital	Retained Earnings	Treasury Stock
Balance at Apr. 30, 2020	$ 224,098		$ 224,098
Net income	17,157		3,876		$ 13,281
Stock-based compensation	1,680			$ 1,680
Issuance of common stock under restricted stock unit awards, net of tax	(14)			(14)
Issuance of common stock under restricted stock unit awards, net of tax, shares		35,000
Net transfers from former Parent	34,783		34,783
Issuance of common stock and reclassification of former net parent company investment		$ 14	$ (262,757)	262,743
Issuance of common stock and reclassification of former net parent company investment, shares		13,975,000
Balance at Jan. 31, 2021	277,704	$ 14		264,409	13,281
Balance, shares at Jan. 31, 2021		14,010,000
Balance at Oct. 31, 2020	268,785	$ 14		263,519	5,252
Balance, shares at Oct. 31, 2020		13,992,000
Net income	8,029				8,029
Stock-based compensation	904			904
Issuance of common stock under restricted stock unit awards, net of tax, shares		18,000
Issuance of common stock and reclassification of former net parent company investment	(14)			(14)
Balance at Jan. 31, 2021	277,704	$ 14		264,409	13,281
Balance, shares at Jan. 31, 2021		14,010,000
Balance at Apr. 30, 2021	$ 279,905	$ 14		265,362	14,529
Balance, shares at Apr. 30, 2021	14,059,440	14,059,000
Net income	$ 11,806				11,806
Stock-based compensation	2,336			2,336
Shares issued under employee stock purchase plan	408			408
Shares issued under employee stock purchase plan, shares		35,000
Proceeds from exercise of stock options	5			5
Proceeds from exercise of stock options, shares		3,000
Issuance of common stock under restricted stock unit awards, net of tax	(528)			(528)
Issuance of common stock under restricted stock unit awards, net of tax, shares		91,000
Repurchase of treasury stock	(7,011)					$ (7,011)
Repurchase of treasury stock, shares						364,000
Balance at Jan. 31, 2022	$ 286,921	$ 14		267,583	26,335	$ (7,011)
Balance, shares at Jan. 31, 2022	13,823,635	14,188,000				364,000
Balance at Oct. 31, 2021	$ 289,269	$ 14		266,686	22,569
Balance, shares at Oct. 31, 2021		14,183,000
Net income	3,766				3,766
Stock-based compensation	920			920
Issuance of common stock under restricted stock unit awards, net of tax	(23)			(23)
Issuance of common stock under restricted stock unit awards, net of tax, shares		5,000
Repurchase of treasury stock	(7,011)					$ (7,011)
Repurchase of treasury stock, shares						364,000
Balance at Jan. 31, 2022	$ 286,921	$ 14		$ 267,583	$ 26,335	$ (7,011)
Balance, shares at Jan. 31, 2022	13,823,635	14,188,000				364,000

CONSOLIDATED AND COMBINED STA_4

CONSOLIDATED AND COMBINED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Jan. 31, 2022	Jan. 31, 2021
Cash flows from operating activities:
Net income	$ 11,806	$ 17,157
Adjustments to reconcile net income to net cash provided by/(used in) operating activities:
Depreciation and amortization	12,550	15,112
Loss on sale/disposition of assets	127
Provision for credit losses on accounts receivable	(8)	23
Deferred income taxes	63	(780)
Stock-based compensation expense	2,336	2,100
Changes in operating assets and liabilities:
Accounts receivable	(7,851)	(19,356)
Inventories	(45,275)	(13,691)
Prepaid expenses and other current assets	(2,574)	(3,537)
Income taxes	(580)	1,182
Accounts payable	3,789	7,724
Accrued payroll and incentives	(2,956)	4,140
Right of use assets	1,224	927
Accrued profit sharing	(1,005)	961
Accrued expenses	4,024	5,919
Other assets	(308)	(15)
Lease liabilities	(1,351)	(1,097)
Other non-current liabilities	(197)	288
Net cash (used in)/provided by operating activities	(26,186)	17,057
Cash flows from investing activities:
Payments to acquire patents and software	(449)	(463)
Payments to acquire property and equipment	(4,262)	(2,600)
Net cash used in investing activities	(4,711)	(3,063)
Cash flows from financing activities:
Payments to acquire treasury stock	(7,011)
Net transfers from former Parent		31,706
Cash paid for debt issuance costs		(410)
Proceeds from exercise of options to acquire common stock, including employee stock purchase plan	413
Payment of employee withholding tax related to restricted stock units	(528)	(14)
Net cash (used in)/provided by financing activities	(7,126)	31,282
Net (decrease)/increase in cash and cash equivalents	(38,023)	45,276
Cash and cash equivalents, beginning of period	60,801	234
Cash and cash equivalents, end of period	22,778	45,510
Supplemental disclosure of cash flow information Cash paid for:
Interest	114	61
Income taxes	3,792	3,680
Supplemental Disclosure of Non-cash Investing and Financing Activities:
Purchases of property and equipment and intangibles included in accounts payable	887	4
Non-cash transfers to/from former Parent		1,398
Changes in right of use assets for operating lease obligations	158	23,940
Changes in lease liabilities for operating lease obligations	$ 158	$ 23,940

Background, Description of Busi

Background, Description of Business, and Basis of Presentation	9 Months Ended
	Jan. 31, 2022
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Background, Description of Business, and Basis of Presentation	(1) Background, Description of Business, and Basis of Presentation: Background On August 24, 2020, Smith & Wesson Brands, Inc., or our former parent, completed the spin-off of its outdoor products and accessories business, or the Separation, to our company (our “company,” “we,” “us,” or “our”). The consolidated and combined financial statements for the period prior to the Separation do not necessarily reflect what the financial position, results of operations, and cash flows would have been had we operated as an independent, publicly traded company during the historical periods presented. For the period prior to the Separation, the unaudited combined financial statements were prepared on a “carve-out” basis. Basis of Presentation – Unaudited Consolidated and Combined Financial Statements Our unaudited consolidated and combined financial statements for the three and nine months ended January 31, 2022 are consolidated financial statements based on the reported results of our company as a standalone company. These financial statements have been prepared in accordance with accounting principles generally accepted in the United States, or GAAP, for interim financial information and Article 10 of Regulation S-X. The consolidated balance sheet at April 30, 2021 was derived from audited financial statements. The consolidated and combined financial statements at January 31, 2022, and for the three and nine months ended January 31, 2022 and 2021, are unaudited, but in our opinion include all normal recurring adjustments necessary for a fair statement of the results for the interim periods. The results reported in these consolidated and combined financial statements should not necessarily be taken as indicative of results that may be expected for the entire fiscal year. These consolidated and combined financial statements should be read in conjunction with the consolidated and combined financial statements, and notes thereto, included in our Annual Report on Form 10-K for the fiscal year ended April 30, 2021. Basis of Presentation – Prior to the Separation For the period prior to the Separation in fiscal 2021, the unaudited combined financial statements reflected the financial position, results of operations, and cash flows for the periods presented as historically managed by our former parent and were derived from the consolidated financial statements and accounting records of our former parent In addition, for purposes of preparing the combined financial statements, prior to the Separation, on a “carve-out” basis, a portion of our former parent’s total corporate expenses was allocated to us based on direct usage when identifiable or, when not directly identifiable, on the basis of proportional net revenue, employee headcount, delivered units, or square footage, as applicable e were allocated $2.7 million for such corporate expenses, which were included within general and administrative expenses in the consolidated and combined statements of operations and comprehensive income. For the period prior to the Separation in fiscal 2021, we were also allocated $1.9 million of such distribution expenses, which were included within cost of sales; selling, marketing, and distribution expenses; and general and administrative expenses in the consolidated and combined statements of operations and comprehensive income. For the period prior to the Separation in fiscal 2021, our net sales to our former parent totaled $2.4 million, which are included in net sales in the consolidated and combined statements of operations and comprehensive income. Description of Business We are a leading provider of outdoor products and accessories encompassing hunting, fishing, camping, shooting, and personal security and defense products for rugged outdoor enthusiasts. We conceive, design, produce or source, and sell products and accessories, including shooting supplies, rests, vaults, and other related accessories; lifestyle products such as premium sportsman knives and tools for fishing and hunting; land management tools for hunting preparedness; harvesting products for post-hunt or post-fishing activities; electro-optical devices, including hunting optics, firearm aiming devices, flashlights, and laser grips; reloading, gunsmithing, and firearm cleaning supplies; and survival, camping, and emergency preparedness products. We develop and market our products at our facility in Columbia, Missouri and contract for the manufacture and assembly of most of our products with third-parties located in Asia. We also manufacture some of our electro-optics products at our facility in Wilsonville, Oregon. We focus on our brands and the establishment of product categories in which we believe our brands will resonate strongly with the activities and passions of consumers and enable us to capture an increasing share of our overall addressable markets. Our owned brands include Caldwell, Wheeler, Tipton, Frankford Arsenal, Hooyman, BOG, MEAT!, Uncle Henry, Old Timer, Imperial, Crimson Trace, LaserLyte, Lockdown, ust, BUBBA, and Schrade, and we license for use in association with certain products we sell additional brands, including M&P, Smith & Wesson, Performance Center by Smith & Wesson, and Thompson/Center Arms. In focusing on the growth of our brands, we organize our creative, product development, sourcing, and e-commerce teams into four brand lanes, each of which focuses on one of four distinct consumer verticals – Marksman, Defender, Harvester, and Adventurer – with each of our brands included in one of the brand lanes. • Our Marksman brands address product needs arising from consumer activities that take place primarily at the shooting range and where firearms are cleaned, maintained, and worked on. • Our Defender brands include products that help consumers aim their firearms more accurately, including situations that require self-defense, and products that help safely secure and store, as well as maintain connectivity to those possessions that many consumers consider to be high value or high consequence. • Our Harvester brands focus on the activities hunters typically engage in, including the activities to prepare for the hunt, the hunt itself, and the activities that follow a hunt, such as meat processing. • Our Adventurer brands include products that help enhance consumers’ fishing and camping experiences. Reclassification We have adjusted the accompanying consolidated balance sheet as of April 30, 2021 to reclassify $4.8 million from accounts receivable, net, to other current assets, to conform with our current presentation. This reclassification had no impact on the previously reported net income and comprehensive income and operating cash flows. Revenue Recognition We recognize revenue for the sale of our products at the point in time when the control of ownership has transferred to the customer. The transfer of control typically occurs at a point in time based on consideration of when the customer has (i) a payment obligation, (ii) physical possession of goods has been received, (iii) legal title to goods has passed, (iv) risks and rewards of ownership of goods has passed to the customer, and (v) the customer has accepted the goods. The timing of revenue recognition occurs either on shipment or delivery of goods based on contractual terms with the customer. The duration of contractual arrangements with customers in our wholesale channels is typically less than one year. Payment terms with customers are typically between 20 and 90 days, with a discount available in certain cases for early payment. For contracts with discounted terms, we determine the transaction price upon establishment of the contract that contains the final terms of the sale, including the description, quantity, and price of each product purchased. We estimate variable consideration relative to the amount of cash discounts to which customers are likely to be entitled. In some instances, we provide longer payment terms, particularly as it relates to our hunting dating programs, which represent payment terms due in the fall for certain orders of hunting products received in the spring and summer. We do not consider these extended terms to be a significant financing component of the contract because the payment terms are less than one year. We have elected to treat all shipping and handling activities as fulfillment costs and recognize the costs as distribution expenses at the time we recognize the related revenue. Shipping and handling costs billed to customers are included in net sales. The amount of revenue we recognize reflects the expected consideration to be received for providing the goods or services to the customer, which includes estimates for variable consideration. Variable consideration includes allowances for trade term discounts, chargebacks, and product returns. Estimates of variable consideration are determined at contract inception and reassessed at each reporting date, at a minimum, to reflect any changes in facts and circumstances. We apply the portfolio approach as a practical expedient and utilize the expected value method in determining estimates of variable consideration, based on evaluations of specific product and customer circumstances, historical and anticipated trends, and current economic conditions. We have co-op advertising program expense, which we record within advertising expense, in recognition of a distinct service that we receive from our customers at the retail level. Disaggregation of Revenue The following table sets forth certain information regarding trade channel net sales for the three months ended January 31, 2022 and 2021 (dollars in thousands): 2022 2021 $ Change % Change e-commerce channels $ 35,397 $ 36,450 $ (1,053 ) -2.9 % Traditional channels 34,708 46,199 (11,491 ) -24.9 % Total net sales $ 70,105 $ 82,649 $ (12,544 ) -15.2 % Our e-commerce channels include net sales from customers that do not traditionally operate a physical brick-and-mortar store, but generate the majority of their revenue from consumer purchases at their retail websites. Our e-commerce channels also include our direct-to-consumer sales. We sell our products worldwide. The following table sets forth certain information regarding geographic makeup of net sales included in the above table for the three months ended January 31, 2022 and 2021 (dollars in thousands): 2022 2021 $ Change % Change Domestic net sales $ 67,610 $ 80,128 $ (12,518 ) -15.6 % International net sales 2,495 2,521 (26 ) -1.0 % Total net sales $ 70,105 $ 82,649 $ (12,544 ) -15.2 % The following table sets forth certain information regarding trade channel net sales for the nine months ended January 31, 2022 and 2021 (dollars in thousands): 2022 2021 $ Change % Change e-commerce channels $ 79,540 $ 87,241 $ (7,701 ) -8.8 % Traditional channels 122,093 124,973 (2,880 ) -2.3 % Total net sales $ 201,633 $ 212,214 $ (10,581 ) -5.0 % The following table sets forth certain information regarding geographic makeup of net sales included in the above table for the nine months ended January 31, 2022 and 2021 (dollars in thousands): 2022 2021 $ Change % Change Domestic net sales $ 191,599 $ 205,124 $ (13,525 ) -6.6 % International net sales 10,034 7,090 2,944 41.5 % Total net sales $ 201,633 $ 212,214 $ (10,581 ) -5.0 % Accounts Receivable and Allowance for Estimated Credit Losses We record trade accounts receivable at net realizable value that include estimated allowances for trade terms, sales incentive programs, discounts, markdowns, chargebacks, and returns as discussed under Revenue Recognition above. We extend credit to our domestic customers and some foreign distributors based on their credit worthiness. We sometimes offer discounts for early payment on invoices. When we believe the extension of credit is not advisable, we rely on either a prepayment or a letter of credit. We write off balances deemed uncollectible by us against our allowance for credit loss accounts. We maintain an allowance for credit losses related to accounts receivable for future expected credit losses resulting from the inability or unwillingness of our customers to make required payments. We estimate our allowance for credit losses based on relevant information such as historical experience, current conditions, and future expectation and in relation to a representative pool of assets consisting of a large number of customers with similar risk characteristics and similar financial assets. We adjust the allowance as appropriate to reflect differences in current conditions as well as changes in forecasted macroeconomic conditions. In November 2020, we entered into a factoring arrangement with a financial institution specifically designed to factor trade receivables with a certain customer that has extended payment terms, which are traditional to the customer’s industry. Under this factoring arrangement, from time to time, we sell this customer’s trade receivables at a discount on a non-recourse basis. We account for these transactions as sales and cash proceeds are included in cash provided by operating activities in the statement of cash flows. During the three and nine months ended January 31, 2022, we recorded an immaterial amount of factoring fees related to factoring transactions, which are included in other income, net on our consolidated and combined statement of operations. Concentration of Credit Risk Financial instruments that potentially subject us to concentration of credit risk consist primarily of cash, cash equivalents, and trade receivables. We place our cash and cash equivalents in overnight U.S. government securities. Concentrations of credit risk with respect to trade receivables are limited by the large number of customers comprising our customer base and their geographic and business dispersion. We perform ongoing credit evaluations of our customers’ financial condition and generally do not require collateral. For the three months ended January 31, 2022, one of our customers accounted for more than 10% of our net sales, specifically accounting for $25.6 million, or 36.5% of our net sales. For the nine months ended January 31, 2022, two of our customers accounted for more than 10% of our net sales, one accounting for $57.6 million, or 28.6%, and the other $20.8 million, or 10.3%, respectively, of our net sales. As of January 31, 2022, two of our customers exceeded 10% or more of our accounts receivable, accounting for $18.4 million, or 40.5%, and $6.1 million, or 13.4%, respectively, of our accounts receivable. For the three and nine months ended January 31, 2021, one of our customers accounted for more than 10% of our net sales, specifically accounting for $23.5 million, or 28.4%, and $61.8 million, or 29.1%, respectively, of our net sales. As of January 31, 2021, two of our customers exceeded 10% or more of our accounts receivable, accounting for $17.6 million, or 31.4%, and $6.3 million, or 11.2%, respectively, of our accounts receivable.

Recently Adopted and Issued Acc

Recently Adopted and Issued Accounting Standards	9 Months Ended
	Jan. 31, 2022
Accounting Changes And Error Corrections [Abstract]
Recently Adopted and Issued Accounting Standards	(2) Recently Adopted and Issued Accounting Standards: Recently Issued Accounting Standards – In March 2020, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update, or ASU, 2020-04, (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, or ASU 2020-04, to provide temporary optional expedients and exceptions to the contract modifications, hedge relationships, and other transactions affected by reference rate reform if certain criteria are met. ASU 2020-04, which was effective upon issuance and may be applied through December 31, 2022, is applicable to all contracts and hedging relationships that reference the London Interbank Offered Rate or any other reference rate expected to be discontinued. We do not expect the new guidance to have a material impact on our consolidated and combined financial statements and related disclosures. Recently Adopted Accounting Standards – In December 2019, FASB issued ASU No. 2019-12, (Topic 740): Simplifying the Accounting for Income Taxes, or ASU 2019-12, an amendment of the FASB Accounting Standards Codification. ASU 2019-12 simplifies the accounting for income taxes by removing certain exceptions for intraperiod tax allocations and deferred tax liabilities for equity method investments and adds guidance regarding whether a step-up in tax basis of goodwill relates to a business combination or a separate transaction. ASU 2019-12 is effective for fiscal years beginning after December 15, 2020, with early adoption permitted. We adopted ASU 2019-12 on May 1, 2021, and the cumulative effect of the adoption was not material to our consolidated and combined financial statements and related disclosures.

Leases

Leases	9 Months Ended
	Jan. 31, 2022
Leases [Abstract]
Leases	(3) Leases: We lease certain of our real estate, as well as other equipment, under non-cancelable operating lease agreements. We recognize expenses under our operating lease assets and liabilities at the commencement date based on the present value of lease payments over the lease terms. Our leases do not provide an implicit interest rate. We use our incremental borrowing rate based on the information available at the lease commencement date in determining the present value of lease payments. Our lease agreements do not require material variable lease payments, residual value guarantees, or restrictive covenants. For operating leases, we recognize expense on a straight-line basis over the lease term. We record tenant improvement allowances as an offsetting adjustment included in our calculation of the respective right-of-use asset. Many of our leases include renewal options that can extend the lease term. These renewal options are at our sole discretion and are reflected in the lease term when they are reasonably certain to be exercised. The depreciable life of assets and leasehold improvements are limited by the expected lease term. The amounts of assets and liabilities related to our operating leases as of January 31, 2022 are as follows (in thousands): January 31, 2022 Operating Leases Right-of-use assets $ 27,475 Accumulated amortization (3,165 ) Right-of-use assets, net $ 24,310 Lease liabilities, current portion $ 1,846 Lease liabilities, net of current portion 23,513 Total operating lease liabilities $ 25,359 For the three and nine months ended January 31, 2022, w e recorded $934,000 and $2.8 million, respectively, of operating lease costs, of which $57,000 and $158,000, respectively, were short-term operating lease costs. For the three and nine months ended January 31, 2021, we recorded $965,000 and $2.2 million, respectively, of operating lease costs, of which $32,000 and $217,000, respectively, were short-term operating lease costs. As of January 31, 2022, our weighted average lease term and weighted average discount rate for our operating leases were 16.2 years and 5.4%, respectively. The operating lease costs, weighted average lease term, and weighted average discount rate, are primarily driven by the sublease of our corporate office and warehouse facility in Columbia, Missouri through fiscal 2039. The depreciable lives of right-of-use assets are limited by the lease term and are amortized on a straight-line basis over the life of the lease. Future lease payments for all our operating leases for the remainder of fiscal 2022 and for succeeding fiscal years are as follows (in thousands): Operating 2022 $ 804 2023 3,081 2024 2,055 2025 2,059 2026 2,005 2027 2,033 Thereafter 26,514 Total future lease payments 38,551 Less amounts representing interest (13,192 ) Present value of lease payments 25,359 Less current maturities of lease liabilities (1,846 ) Long-term maturities of lease liabilities $ 23,513 The cash paid for amounts included in the measurement of the liabilities and the operating cash flows was $1.4 million and $1.1 million for the nine months ended January 31, 2022 and 2021, respectively.

Goodwill and Intangible Assets,

Goodwill and Intangible Assets, Net	9 Months Ended
	Jan. 31, 2022
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets, Net	(4) Goodwill and Intangible Assets, net: The following table summarizes intangible assets as of January 31, 2022 and April 30, 2021 (in thousands): January 31, 2022 April 30, 2021 Gross Gross Carrying Accumulated Net Carrying Carrying Accumulated Net Carrying Amount Amortization Amount Amount Amortization Amount Customer relationships $ 89,980 $ (66,053 ) $ 23,927 $ 89,980 $ (60,347 ) $ 29,633 Developed technology 21,588 (15,681 ) 5,907 21,588 (14,456 ) 7,132 Patents, trademarks, and trade names 50,138 (37,812 ) 12,326 50,007 (34,308 ) 15,699 161,706 (119,546 ) 42,160 161,575 (109,111 ) 52,464 Patents in progress 1,164 — 1,164 749 — 749 Total definite-lived intangible assets 162,870 (119,546 ) 43,324 162,324 (109,111 ) 53,213 Indefinite-lived intangible assets 430 — 430 430 — 430 Total intangible assets $ 163,300 $ (119,546 ) $ 43,754 $ 162,754 $ (109,111 ) $ 53,643 We amortize intangible assets with determinable lives over a weighted-average period of approximately five years. The weighted-average periods of amortization by intangible asset class is approximately five years for customer relationships, six years for developed technology, and five years for patents, trademarks, and trade names. Amortization expense amounted to $3.4 million and $4.1 million for the three months ended January 31, 2022 and 2021, respectively. Amortization expense amounted to $10.4 million and $12.2 million for the nine months ended January 31, 2022 and 2021, respectively. Future expected amortization expense for the remainder of fiscal 2022 and for succeeding fiscal years, as of January 31, 2022, are as follows (in thousands): Fiscal Amount 2022 $ 3,453 2023 11,436 2024 9,698 2025 6,055 2026 4,962 2027 2,970 Thereafter 3,586 Total $ 42,160 As of January 31, 2022, we had $64.3 million of goodwill. We did not have any adjustments to goodwill during the nine months ended January 31, 2022 and 2021, respectively. As of January 31, 2022, we had recorded $109.3 million of goodwill impairment charges since fiscal 2015 on gross goodwill of $173.6 million.

Fair Value Measurement

Fair Value Measurement	9 Months Ended
	Jan. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurement	(5) Fair Value Measurement: We follow the provisions of Accounting Standards Codification, or ASC, 820-10, Fair Value Measurements and Disclosures Topic Financial assets and liabilities recorded on the accompanying consolidated balance sheets are categorized based on the inputs to the valuation techniques as follows: Level 1 — Financial assets and liabilities whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market that we have the ability to access at the measurement date (examples include active exchange-traded equity securities, listed derivatives, and most U.S. Government and agency securities). Our cash and cash equivalents, which are measured at fair value on a recurring basis, totaled $22.8 million as of January 31, 2022 and $60.8 million as of April 30, 2021. Cash and cash equivalents are reported at fair value based on market prices for identical assets in active markets, and therefore classified as Level 1 of the value hierarchy. Level 2 — Financial assets and liabilities whose values are based on quoted prices in markets in which trading occurs infrequently or whose values are based on quoted prices of instruments with similar attributes in active markets. Level 2 inputs include the following: • quoted prices for identical or similar assets or liabilities in non-active markets (such as corporate and municipal bonds which trade infrequently); • inputs other than quoted prices that are observable for substantially the full term of the asset or liability (such as interest rate and currency swaps); and • inputs that are derived principally from or corroborated by observable market data for substantially the full term of the asset or liability (such as certain securities and derivatives). Level 3 — Financial assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. These inputs reflect our assumptions about the assumptions a market participant would use in pricing the asset or liability. We currently do not have any Level 2 or Level 3 financial assets or liabilities as of January 31, 2022.

Inventories

Inventories	9 Months Ended
	Jan. 31, 2022
Inventory Disclosure [Abstract]
Inventories	(6) Inventories: The following table sets forth a summary of inventories, stated at lower of cost or net realizable value, as of January 31, 2022 and April 30, 2021 (in thousands): January 31, 2022 April 30, 2021 Finished goods $ 107,210 (a) $ 62,465 Finished parts 5,591 4,629 Work in process 169 445 Raw material 6,601 6,757 Total inventories $ 119,571 $ 74,296 (a) Finished goods inventory increased as a result of a planned inventory build in anticipation of new product introductions later in the year and additional strategic purchases to help mitigate price increases on materials and future supply chain disruptions. In addition, the increased freight, prices on materials, and new products with higher cost values, has resulted in an increase of our average inventory unit values as of January 31, 2022 compared with April 30, 2021.

Debt

Debt	9 Months Ended
	Jan. 31, 2022
Debt Disclosure [Abstract]
Debt	(7) Debt: On August 24, 2020, we entered into a financing arrangement consisting of a $50.0 million revolving line of credit secured by substantially all our assets, maturing five years from the closing date, with available borrowings determined by a borrowing base calculation. Based on this calculation, the entire $50.0 million was available to us as of January 31, 2022. The revolving line includes an option to increase the credit commitment for an additional $15.0 million. The revolving line bears interest at a fluctuating rate equal to the Base Rate or LIBOR, as applicable, plus the applicable margin. If adequate means do not exist for ascertaining LIBOR, any borrowing under the credit facility may be converted into Base Rate Loans. credit. If we would have had borrowings at January 31, 202 2 , those borrowings would have borne interest at approximately 2.06 % , which is equal to LIBOR plus the applicable margin.

Equity

Equity	9 Months Ended
	Jan. 31, 2022
Equity [Abstract]
Equity	(8) Equity: Treasury Stock On December 6, 2021, our Board of Directors authorized the repurchase of up to $15.0 million of our common stock, subject to certain conditions, in the open market, or block purchases, executable through December 2023. During the three and nine months ended January 31, 2022, we repurchased 364,398 shares of our common stock, in the open market, for $7.0 million under this authorization, utilizing cash on hand. Earnings per Share We compute d iluted earnings per share by giving effect to all potentially dilutive stock awards that are outstanding. The computation of diluted earnings per share excludes the effect of the potential exercise of stock-based awards when the effect of the potential exercise would be anti-dilutive. There were shares excluded from the computation of diluted earnings per share for the three and nine months ended January 31, 2022 and 2021, respectively. The following table provides a reconciliation of the net income amounts and weighted average number of common and common equivalent shares used to determine basic and diluted earnings per share for the three months ended January 31, 2022 and 2021 (in thousands, except per share data): For the Three Months Ended January 31, 2022 2021 Net Per Share Net Per Share Income Shares Amount Income Shares Amount Basic earnings $ 3,766 14,054 $ 0.27 $ 8,029 13,999 $ 0.57 Effect of dilutive stock awards — 151 — — 255 (0.01 ) Diluted earnings $ 3,766 14,205 $ 0.27 $ 8,029 14,254 $ 0.56 The following table provides a reconciliation of the net income amounts and weighted average number of common and common equivalent shares used to determine basic and diluted earnings per share for the nine months ended January 31, 2022 and 2021 (in thousands, except per share data): For the Nine Months Ended January 31, 2022 2021 Net Per Share Net Per Share Income Shares Amount Income Shares Amount Basic earnings $ 11,806 14,091 $ 0.84 $ 17,157 13,987 $ 1.23 Effect of dilutive stock awards — 241 (0.02 ) — 334 (0.03 ) Diluted earnings $ 11,806 14,332 $ 0.82 $ 17,157 14,321 $ 1.20 Incentive Stock and Employee Stock Purchase Plans We have a stock incentive plan, or 2020 Incentive Compensation Plan, under which we can grant new awards to our employees and directors. Our 2020 Incentive Compensation Plan authorizes the issuance of awards covering up to 1,397,510 shares of our common stock. The plan permits the grant of options to acquire common stock, restricted stock awards, restricted stock units, or RSUs, stock appreciation rights, bonus stock and awards in lieu of obligations, performance awards, and dividend equivalents. Our Board of Directors, or a committee established by our Board of Directors, administers the plan, selects recipients to whom awards are granted, and determines the grants to be awarded. Stock options granted under the plan are exercisable at a price determined by our Board of Directors or a committee thereof at the time of grant, but in no event, less than fair market value of our common stock on the date granted. Grants of options may be made to employees and directors without regard to any performance measures. All options issued pursuant to the plan are generally nontransferable and subject to forfeiture. Unless terminated earlier by our Board of Directors, our 2020 Incentive Compensation Plan will terminate at the earliest of (1) the tenth anniversary of the effective date of our 2020 Incentive Compensation Plan, or (2) such time as no shares of common stock remain available for issuance under the plan and we have no further rights or obligations with respect to outstanding awards under the plan. The date of grant of an award is deemed to be the date upon which our Board of Directors or a committee thereof authorizes the granting of such award. Except in specific circumstances, grants generally vest over a period of three or four years and grants of stock options are exercisable for a period of 10 years. Our 2020 Incentive Compensation Plan also permits the grant of awards to non-employees. We recognized $918,000 and $2.3 million of stock-based compensation expense for the three and nine months ended January 31, 2022, respectively. We recognized $904,000 and $2.1 million of stock-based compensation expense for the three and nine months ended January 31, 2021, respectively. Of the total stock-based compensation expense recognized by us for the period prior to the Separation in fiscal year 2021, $224,000 related to allocations of our former parent’s corporate and shared employee stock-based compensation. We include stock-based compensation expense in the cost of sales, sales and marketing, research and development, and general and administrative expenses. We grant RSUs to employees and directors. The awards are made at no cost to the recipient. An RSU represents the right to receive one share of our common stock and does not carry voting or dividend rights. Except in specific circumstances, RSU grants to employees generally vest over a period of four years with one-fourth of the units vesting on each anniversary of the grant date. We amortize the aggregate fair value of our RSU grants to compensation expense over the vesting period. Awards that do not vest are forfeited. We grant performance stock units, or PSUs, to our executive officers and certain other employees from time to time. At the time of grant, we calculate the fair value of our PSUs using the Monte-Carlo simulation. We incorporate the following variables into the valuation model: For the Three and Nine Months Ended January 31, 2022 2021 Grant date fair market value American Outdoor Brands, Inc. $ 26.44 $ 13.30 Russell 2000 Index $ 2,277.45 $ 1,504.59 Volatility (a) American Outdoor Brands, Inc. 47.78 % 47.54 % Russell 2000 Index 30.69 % 27.70 % Correlation coefficient (b) 0.46 0.48 Risk-free interest rate (c) 0.33 % 0.17 % Dividend yield (d) 0 % 0 % (a) Expected volatility is calculated based on a peer group over the most recent period that represents (b) The correlation coefficient utilizes the same historical price data used to develop the volatility assumptions (c) The risk-free interest rate is based on the yield of a zero-coupon U.S. Treasury bill, commensurate with the three-year (d) We do not expect to pay dividends in the foreseeable future The PSUs vest, and the fair value of such PSUs will be recognized, over the corresponding three-year During the nine months ended January 31, 2022, we granted an aggregate of 26,809 PSUs to our executive officers. We also granted 75,387 RSUs during the nine months ended January 31, 2022, including 28,948 RSUs to executive officers and 46,439 to non-executive officer employees and directors under our 2020 Incentive Compensation Plan. In addition, in connection with a 2018 grant, we vested 10,800 PSUs (i.e., the target amount granted), which achieved 200% of the maximum aggregate award possible, resulting in awards totaling 21,600 shares to certain of our executive officers and employees of our former parent that were granted as part of the Separation. During the nine months ended January 31, 2022, we cancelled 21,723 RSUs and 14,271 PSUs, for a total of 35,994 cancelled, as a result of the service condition not being met. In connection with the vesting of RSUs, during the nine months ended January 31, 202 2 , we delivered common stock to our employees, including our executive officers , and directors with a total market value of $ million . During the nine months ended January 31, 2021, we granted an aggregate of 166,319 RSUs to our executive officers, non-executive officer employees, and directors, and 78,045 PSUs to certain executive officers under our 2020 Incentive Compensation Plan. During the nine months ended January 31, 2021, 477 RSUs were cancelled as a result of the service condition not being met. In connection with the vesting of RSUs, during the nine months ended January 31, 2021, we delivered common stock to our employees, including our executive officers, with a total market value of $541,000. A summary of activity for unvested RSUs and PSUs under our 2020 Incentive Compensation Plan for the nine months ended January 31, 2022 and 2021 is as follows: For the Nine Months ended January 31, 2022 2021 Weighted Weighted Total # of Average Total # of Average Restricted Grant Date Restricted Grant Date Stock Units Fair Value Stock Units Fair Value RSUs and PSUs outstanding, beginning of period 427,519 $ 11.75 — $ — Converted on August 24, 2020 — — 237,589 9.20 Awarded 112,996 27.14 244,364 14.10 Vested (113,135 ) 11.80 (36,221 ) 11.41 Forfeited (35,994 ) 14.45 (477 ) 12.77 RSUs and PSUs outstanding, end of period 391,386 $ 15.93 445,255 $ 11.70 As of January 31, 2022, there was $2.9 million of unrecognized compensation expense related to unvested RSUs and PSUs. We expect to recognize this expense over a weighted average remaining contractual term of 1.5 years. We have an employee stock purchase plan, or ESPP, which authorizes the sale of up to 419,253 shares of our common stock to employees. All options and rights to participate in our ESPP are nontransferable and subject to forfeiture in accordance with our ESPP guidelines. Our current ESPP will be implemented in a series of successive offering periods, each with a maximum duration of 12 months. If the fair market value per share of our common stock on any purchase date is less than the fair market value per share on the start date of a 12-month offering period, then that offering period will automatically terminate and a new 12-month offering period will begin on the next business day. Each offering period will begin on April 1 or October 1, as applicable, immediately following the end of the previous offering period. Payroll deductions will be on an after-tax basis, in an amount of not less than 1% and not more than 20% (or such greater percentage as the committee appointed to administer our ESPP may establish from time to time before the first day of an offering period) of a participant’s compensation on each payroll date. The option exercise price per share will equal 85% of the lower of the fair market value on the first day of the offering period or the fair market value on the exercise date. The maximum number of shares that a participant may purchase during any purchase period is the greater of 2,500 shares, or a total of $25,000 in shares, based on the fair market value on the first day of the offering period. Our ESPP will remain in effect until the earliest of (a) the exercise date that participants become entitled to purchase a number of shares greater than the number of reserved shares available for purchase under our ESPP, (b) such date as is determined by our Board of Directors in its discretion, or (c) the tenth anniversary of the effective date. In the event of certain corporate transactions, each option outstanding under our ESPP will be assumed or an equivalent option will be substituted by the successor corporation or a parent or subsidiary of such successor corporation. During the nine months ended January 31, 2022, 34,722 shares were purchased by our employees under our ESPP. We measure the cost of employee services received in exchange for an award of an equity instrument based on the grant-date fair value of the award. We amortize the fair value of the award over the vesting period of the option. Under ESPP, fair value is determined at the beginning of the purchase period and amortized over the term of each exercise period. The following assumptions were used in valuing ESPP purchases under our ESPP during the nine months ended January 31, 2022 and 2021: For the Three and Nine Months Ended January 31, 2022 2021 Risk-free interest rate 0.05% - 0.09% 0.06% - 0.10% Expected term 6 months - 12 months 6 months - 12 months Expected volatility 54.7% - 56.7% 57.02% - 60.61% Dividend yield 0 % 0 % We estimate expected volatility using historical volatility for the expected term. The fair value of each stock option or ESPP purchase was estimated on the date of the grant using Black-Scholes option pricing model (using the risk-free interest rate, expected term, expected volatility, and dividend yield variables, as noted in the above table).

Accrued Expenses

Accrued Expenses	9 Months Ended
	Jan. 31, 2022
Payables And Accruals [Abstract]
Accrued Expenses	(9) Accrued Expenses: The following table sets forth other accrued expenses as of January 31, 2022 and April 30, 2021 (in thousands): January 31, 2022 April 30, 2021 Accrued freight $ 5,076 $ 2,466 Accrued sales allowances 4,330 2,931 Accrued commissions 1,359 1,578 Accrued professional fees 991 701 Accrued taxes other than income 823 1,052 Accrued warranty 649 717 Accrued employee benefits 438 153 Accrued other 201 245 Total accrued expenses $ 13,867 $ 9,843

Income Taxes

Income Taxes	9 Months Ended
	Jan. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	(10) The income tax expense included in the consolidated and combined statements of operations is based upon the estimated effective tax rate for the year, adjusted for the impact of discrete items which are accounted for in the period in which they occur. We recorded income tax expense of $1.1 million for the three months ended January 31, 2022 and income tax expense of $2.2 million for the three months ended January 31, 2021. The effective tax rate for the three months ended January 31, 2022 and 2021 was 23.4% and 21.8%, respectively. We recorded income tax expense of $3.3 million for the nine months ended January 31, 2022 and income tax expense of $5.7 million for the nine months ended January 31, 2021. The effective tax rate for the nine months ended January 31, 2022 and 2021 was 21.8% and 25.1%, respectively. Income tax expense for the nine months ended January 31, 2022 included a discrete tax benefit of $363,000 associated with stock-based compensation. Income tax expense for the nine months ended January 31, 2021 included a discrete tax benefit of $575,000 associated with the allocation of a portion of our former parent’s total corporate and distribution expenses for the purposes of presenting the combined financial statements on a carve-out basis. For the period prior to the Separation, income taxes were recorded based on a carve-out basis. Prior to the Separation, our portion of income taxes were settled in the period the related tax expense was recorded. After the Separation, our income taxes are prepared on a stand-alone basis.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Jan. 31, 2022
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	(11) Commitments and Contingencies: Litigation From time to time, we are involved in lawsuits, claims, investigations, and proceedings, including those relating to product liability, intellectual property, commercial relationships, employment issues, and governmental matters, which arise in the ordinary course of business. For the three and nine months ended January 31, 2022 and 2021, respectively, we did not incur any material expenses in defense and administrative costs relative to product liability litigation. In addition, we did not incur any settlement fees related to product liability cases in those fiscal years. Gain Contingency In 2018, the United States imposed additional section 301 tariffs, of up to 25%, on certain goods imported from China. These additional section 301 tariffs apply to our sourced products from China and have added additional cost to us. We are utilizing the duty drawback mechanism to offset some of the direct impact of these tariffs, specifically on goods that we sold internationally. We are accounting for duty drawbacks as a gain contingency and may record any such gain from a reimbursement in future periods if and when the contingency is resolved.

Segment Reporting

Segment Reporting	9 Months Ended
	Jan. 31, 2022
Segment Reporting [Abstract]
Segment Reporting	(12) Segment Reporting: We have evaluated our operations under ASC 280-10-50-1 – Segment Reporting based upon a number of financial and operating measures, including sales, gross profit and gross margin, operating expenses, and operating margin. Our business includes our outdoor products and accessories products, which we develop, source, market, and distribute from our facility in Columbia, Missouri, and our electro-optics products, which we assemble in our Wilsonville, Oregon facility. We report operating costs based on the activities performed.

Subsequent Events

Subsequent Events	9 Months Ended
	Jan. 31, 2022
Subsequent Events [Abstract]
Subsequent Events	(13) Subsequent Events: On March 8, 2022, we entered into a definitive agreement to acquire substantially all of the net assets from Fahrenheit Technologies, Inc., a Michigan corporation, or Fahrenheit, for an aggregate price of $27.0 million, subject to certain adjustments. We intend to utilize a combination of cash on hand and availability from our revolving line to complete the acquisition. Fahrenheit, based in Holland, Michigan, is a provider of high-quality, barbecue grills; Wi-Fi-enabled wood pellet grills; smokers; accessories; and modular outdoor kitchens sold under the brand Grilla Grills. The preliminary purchase price allocation has not been completed for this acquisition as of the date of the filing of this Form 10-Q. We recorded an immaterial amount in general and administrative expense for acquisition-related expenses during the three months ended January 31, 2022 in connection with this acquisition.

Background, Description of Bu_2

Background, Description of Business, and Basis of Presentation (Policies)	9 Months Ended
	Jan. 31, 2022
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation – Unaudited Consolidated and Combined Financial Statements Our unaudited consolidated and combined financial statements for the three and nine months ended January 31, 2022 are consolidated financial statements based on the reported results of our company as a standalone company. These financial statements have been prepared in accordance with accounting principles generally accepted in the United States, or GAAP, for interim financial information and Article 10 of Regulation S-X. The consolidated balance sheet at April 30, 2021 was derived from audited financial statements. The consolidated and combined financial statements at January 31, 2022, and for the three and nine months ended January 31, 2022 and 2021, are unaudited, but in our opinion include all normal recurring adjustments necessary for a fair statement of the results for the interim periods. The results reported in these consolidated and combined financial statements should not necessarily be taken as indicative of results that may be expected for the entire fiscal year. These consolidated and combined financial statements should be read in conjunction with the consolidated and combined financial statements, and notes thereto, included in our Annual Report on Form 10-K for the fiscal year ended April 30, 2021. Basis of Presentation – Prior to the Separation For the period prior to the Separation in fiscal 2021, the unaudited combined financial statements reflected the financial position, results of operations, and cash flows for the periods presented as historically managed by our former parent and were derived from the consolidated financial statements and accounting records of our former parent In addition, for purposes of preparing the combined financial statements, prior to the Separation, on a “carve-out” basis, a portion of our former parent’s total corporate expenses was allocated to us based on direct usage when identifiable or, when not directly identifiable, on the basis of proportional net revenue, employee headcount, delivered units, or square footage, as applicable e were allocated $2.7 million for such corporate expenses, which were included within general and administrative expenses in the consolidated and combined statements of operations and comprehensive income. For the period prior to the Separation in fiscal 2021, we were also allocated $1.9 million of such distribution expenses, which were included within cost of sales; selling, marketing, and distribution expenses; and general and administrative expenses in the consolidated and combined statements of operations and comprehensive income. For the period prior to the Separation in fiscal 2021, our net sales to our former parent totaled $2.4 million, which are included in net sales in the consolidated and combined statements of operations and comprehensive income.
Reclassification	Reclassification We have adjusted the accompanying consolidated balance sheet as of April 30, 2021 to reclassify $4.8 million from accounts receivable, net, to other current assets, to conform with our current presentation. This reclassification had no impact on the previously reported net income and comprehensive income and operating cash flows.
Revenue Recognition	Revenue Recognition We recognize revenue for the sale of our products at the point in time when the control of ownership has transferred to the customer. The transfer of control typically occurs at a point in time based on consideration of when the customer has (i) a payment obligation, (ii) physical possession of goods has been received, (iii) legal title to goods has passed, (iv) risks and rewards of ownership of goods has passed to the customer, and (v) the customer has accepted the goods. The timing of revenue recognition occurs either on shipment or delivery of goods based on contractual terms with the customer. The duration of contractual arrangements with customers in our wholesale channels is typically less than one year. Payment terms with customers are typically between 20 and 90 days, with a discount available in certain cases for early payment. For contracts with discounted terms, we determine the transaction price upon establishment of the contract that contains the final terms of the sale, including the description, quantity, and price of each product purchased. We estimate variable consideration relative to the amount of cash discounts to which customers are likely to be entitled. In some instances, we provide longer payment terms, particularly as it relates to our hunting dating programs, which represent payment terms due in the fall for certain orders of hunting products received in the spring and summer. We do not consider these extended terms to be a significant financing component of the contract because the payment terms are less than one year. We have elected to treat all shipping and handling activities as fulfillment costs and recognize the costs as distribution expenses at the time we recognize the related revenue. Shipping and handling costs billed to customers are included in net sales. The amount of revenue we recognize reflects the expected consideration to be received for providing the goods or services to the customer, which includes estimates for variable consideration. Variable consideration includes allowances for trade term discounts, chargebacks, and product returns. Estimates of variable consideration are determined at contract inception and reassessed at each reporting date, at a minimum, to reflect any changes in facts and circumstances. We apply the portfolio approach as a practical expedient and utilize the expected value method in determining estimates of variable consideration, based on evaluations of specific product and customer circumstances, historical and anticipated trends, and current economic conditions. We have co-op advertising program expense, which we record within advertising expense, in recognition of a distinct service that we receive from our customers at the retail level. Disaggregation of Revenue The following table sets forth certain information regarding trade channel net sales for the three months ended January 31, 2022 and 2021 (dollars in thousands): 2022 2021 $ Change % Change e-commerce channels $ 35,397 $ 36,450 $ (1,053 ) -2.9 % Traditional channels 34,708 46,199 (11,491 ) -24.9 % Total net sales $ 70,105 $ 82,649 $ (12,544 ) -15.2 % Our e-commerce channels include net sales from customers that do not traditionally operate a physical brick-and-mortar store, but generate the majority of their revenue from consumer purchases at their retail websites. Our e-commerce channels also include our direct-to-consumer sales. We sell our products worldwide. The following table sets forth certain information regarding geographic makeup of net sales included in the above table for the three months ended January 31, 2022 and 2021 (dollars in thousands): 2022 2021 $ Change % Change Domestic net sales $ 67,610 $ 80,128 $ (12,518 ) -15.6 % International net sales 2,495 2,521 (26 ) -1.0 % Total net sales $ 70,105 $ 82,649 $ (12,544 ) -15.2 % The following table sets forth certain information regarding trade channel net sales for the nine months ended January 31, 2022 and 2021 (dollars in thousands): 2022 2021 $ Change % Change e-commerce channels $ 79,540 $ 87,241 $ (7,701 ) -8.8 % Traditional channels 122,093 124,973 (2,880 ) -2.3 % Total net sales $ 201,633 $ 212,214 $ (10,581 ) -5.0 % The following table sets forth certain information regarding geographic makeup of net sales included in the above table for the nine months ended January 31, 2022 and 2021 (dollars in thousands): 2022 2021 $ Change % Change Domestic net sales $ 191,599 $ 205,124 $ (13,525 ) -6.6 % International net sales 10,034 7,090 2,944 41.5 % Total net sales $ 201,633 $ 212,214 $ (10,581 ) -5.0 %
Accounts Receivable and Allowance for Estimated Credit Losses	Accounts Receivable and Allowance for Estimated Credit Losses We record trade accounts receivable at net realizable value that include estimated allowances for trade terms, sales incentive programs, discounts, markdowns, chargebacks, and returns as discussed under Revenue Recognition above. We extend credit to our domestic customers and some foreign distributors based on their credit worthiness. We sometimes offer discounts for early payment on invoices. When we believe the extension of credit is not advisable, we rely on either a prepayment or a letter of credit. We write off balances deemed uncollectible by us against our allowance for credit loss accounts. We maintain an allowance for credit losses related to accounts receivable for future expected credit losses resulting from the inability or unwillingness of our customers to make required payments. We estimate our allowance for credit losses based on relevant information such as historical experience, current conditions, and future expectation and in relation to a representative pool of assets consisting of a large number of customers with similar risk characteristics and similar financial assets. We adjust the allowance as appropriate to reflect differences in current conditions as well as changes in forecasted macroeconomic conditions. In November 2020, we entered into a factoring arrangement with a financial institution specifically designed to factor trade receivables with a certain customer that has extended payment terms, which are traditional to the customer’s industry. Under this factoring arrangement, from time to time, we sell this customer’s trade receivables at a discount on a non-recourse basis. We account for these transactions as sales and cash proceeds are included in cash provided by operating activities in the statement of cash flows. During the three and nine months ended January 31, 2022, we recorded an immaterial amount of factoring fees related to factoring transactions, which are included in other income, net on our consolidated and combined statement of operations.
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments that potentially subject us to concentration of credit risk consist primarily of cash, cash equivalents, and trade receivables. We place our cash and cash equivalents in overnight U.S. government securities. Concentrations of credit risk with respect to trade receivables are limited by the large number of customers comprising our customer base and their geographic and business dispersion. We perform ongoing credit evaluations of our customers’ financial condition and generally do not require collateral. For the three months ended January 31, 2022, one of our customers accounted for more than 10% of our net sales, specifically accounting for $25.6 million, or 36.5% of our net sales. For the nine months ended January 31, 2022, two of our customers accounted for more than 10% of our net sales, one accounting for $57.6 million, or 28.6%, and the other $20.8 million, or 10.3%, respectively, of our net sales. As of January 31, 2022, two of our customers exceeded 10% or more of our accounts receivable, accounting for $18.4 million, or 40.5%, and $6.1 million, or 13.4%, respectively, of our accounts receivable. For the three and nine months ended January 31, 2021, one of our customers accounted for more than 10% of our net sales, specifically accounting for $23.5 million, or 28.4%, and $61.8 million, or 29.1%, respectively, of our net sales. As of January 31, 2021, two of our customers exceeded 10% or more of our accounts receivable, accounting for $17.6 million, or 31.4%, and $6.3 million, or 11.2%, respectively, of our accounts receivable.
Recently Adopted and Issued Accounting Standards	Recently Adopted and Issued Accounting Standards: Recently Issued Accounting Standards – In March 2020, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update, or ASU, 2020-04, (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, or ASU 2020-04, to provide temporary optional expedients and exceptions to the contract modifications, hedge relationships, and other transactions affected by reference rate reform if certain criteria are met. ASU 2020-04, which was effective upon issuance and may be applied through December 31, 2022, is applicable to all contracts and hedging relationships that reference the London Interbank Offered Rate or any other reference rate expected to be discontinued. We do not expect the new guidance to have a material impact on our consolidated and combined financial statements and related disclosures. Recently Adopted Accounting Standards – In December 2019, FASB issued ASU No. 2019-12, (Topic 740): Simplifying the Accounting for Income Taxes, or ASU 2019-12, an amendment of the FASB Accounting Standards Codification. ASU 2019-12 simplifies the accounting for income taxes by removing certain exceptions for intraperiod tax allocations and deferred tax liabilities for equity method investments and adds guidance regarding whether a step-up in tax basis of goodwill relates to a business combination or a separate transaction. ASU 2019-12 is effective for fiscal years beginning after December 15, 2020, with early adoption permitted. We adopted ASU 2019-12 on May 1, 2021, and the cumulative effect of the adoption was not material to our consolidated and combined financial statements and related disclosures.

Background, Description of Bu_3

Background, Description of Business, and Basis of Presentation (Tables)	9 Months Ended
	Jan. 31, 2022
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Schedule of Trade Channel Net Sales	The following table sets forth certain information regarding trade channel net sales for the three months ended January 31, 2022 and 2021 (dollars in thousands): 2022 2021 $ Change % Change e-commerce channels $ 35,397 $ 36,450 $ (1,053 ) -2.9 % Traditional channels 34,708 46,199 (11,491 ) -24.9 % Total net sales $ 70,105 $ 82,649 $ (12,544 ) -15.2 % The following table sets forth certain information regarding trade channel net sales for the nine months ended January 31, 2022 and 2021 (dollars in thousands): 2022 2021 $ Change % Change e-commerce channels $ 79,540 $ 87,241 $ (7,701 ) -8.8 % Traditional channels 122,093 124,973 (2,880 ) -2.3 % Total net sales $ 201,633 $ 212,214 $ (10,581 ) -5.0 %
Schedule of Geographic Makeup of Net Sales	The following table sets forth certain information regarding geographic makeup of net sales included in the above table for the three months ended January 31, 2022 and 2021 (dollars in thousands): 2022 2021 $ Change % Change Domestic net sales $ 67,610 $ 80,128 $ (12,518 ) -15.6 % International net sales 2,495 2,521 (26 ) -1.0 % Total net sales $ 70,105 $ 82,649 $ (12,544 ) -15.2 % The following table sets forth certain information regarding geographic makeup of net sales included in the above table for the nine months ended January 31, 2022 and 2021 (dollars in thousands): 2022 2021 $ Change % Change Domestic net sales $ 191,599 $ 205,124 $ (13,525 ) -6.6 % International net sales 10,034 7,090 2,944 41.5 % Total net sales $ 201,633 $ 212,214 $ (10,581 ) -5.0 %

Leases (Tables)

Leases (Tables)	9 Months Ended
	Jan. 31, 2022
Leases [Abstract]
Schedule of Assets and Liabilities Related to Operating Leases	The amounts of assets and liabilities related to our operating leases as of January 31, 2022 are as follows (in thousands): January 31, 2022 Operating Leases Right-of-use assets $ 27,475 Accumulated amortization (3,165 ) Right-of-use assets, net $ 24,310 Lease liabilities, current portion $ 1,846 Lease liabilities, net of current portion 23,513 Total operating lease liabilities $ 25,359
Schedule of Future Lease Payments for Operating Leases	Future lease payments for all our operating leases for the remainder of fiscal 2022 and for succeeding fiscal years are as follows (in thousands): Operating 2022 $ 804 2023 3,081 2024 2,055 2025 2,059 2026 2,005 2027 2,033 Thereafter 26,514 Total future lease payments 38,551 Less amounts representing interest (13,192 ) Present value of lease payments 25,359 Less current maturities of lease liabilities (1,846 ) Long-term maturities of lease liabilities $ 23,513

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets, Net (Tables)	9 Months Ended
	Jan. 31, 2022
Goodwill And Intangible Assets Disclosure [Abstract]
Summary of Intangible Assets	The following table summarizes intangible assets as of January 31, 2022 and April 30, 2021 (in thousands): January 31, 2022 April 30, 2021 Gross Gross Carrying Accumulated Net Carrying Carrying Accumulated Net Carrying Amount Amortization Amount Amount Amortization Amount Customer relationships $ 89,980 $ (66,053 ) $ 23,927 $ 89,980 $ (60,347 ) $ 29,633 Developed technology 21,588 (15,681 ) 5,907 21,588 (14,456 ) 7,132 Patents, trademarks, and trade names 50,138 (37,812 ) 12,326 50,007 (34,308 ) 15,699 161,706 (119,546 ) 42,160 161,575 (109,111 ) 52,464 Patents in progress 1,164 — 1,164 749 — 749 Total definite-lived intangible assets 162,870 (119,546 ) 43,324 162,324 (109,111 ) 53,213 Indefinite-lived intangible assets 430 — 430 430 — 430 Total intangible assets $ 163,300 $ (119,546 ) $ 43,754 $ 162,754 $ (109,111 ) $ 53,643
Schedule of Future Expected Amortization Expense	Future expected amortization expense for the remainder of fiscal 2022 and for succeeding fiscal years, as of January 31, 2022, are as follows (in thousands): Fiscal Amount 2022 $ 3,453 2023 11,436 2024 9,698 2025 6,055 2026 4,962 2027 2,970 Thereafter 3,586 Total $ 42,160

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Jan. 31, 2022
Inventory Disclosure [Abstract]
Summary of Inventories	The following table sets forth a summary of inventories, stated at lower of cost or net realizable value, as of January 31, 2022 and April 30, 2021 (in thousands): January 31, 2022 April 30, 2021 Finished goods $ 107,210 (a) $ 62,465 Finished parts 5,591 4,629 Work in process 169 445 Raw material 6,601 6,757 Total inventories $ 119,571 $ 74,296 (a) Finished goods inventory increased as a result of a planned inventory build in anticipation of new product introductions later in the year and additional strategic purchases to help mitigate price increases on materials and future supply chain disruptions. In addition, the increased freight, prices on materials, and new products with higher cost values, has resulted in an increase of our average inventory unit values as of January 31, 2022 compared with April 30, 2021.

Equity (Tables)

Equity (Tables)	9 Months Ended
	Jan. 31, 2022
Schedule of Earnings per Share	The following table provides a reconciliation of the net income amounts and weighted average number of common and common equivalent shares used to determine basic and diluted earnings per share for the three months ended January 31, 2022 and 2021 (in thousands, except per share data): For the Three Months Ended January 31, 2022 2021 Net Per Share Net Per Share Income Shares Amount Income Shares Amount Basic earnings $ 3,766 14,054 $ 0.27 $ 8,029 13,999 $ 0.57 Effect of dilutive stock awards — 151 — — 255 (0.01 ) Diluted earnings $ 3,766 14,205 $ 0.27 $ 8,029 14,254 $ 0.56 The following table provides a reconciliation of the net income amounts and weighted average number of common and common equivalent shares used to determine basic and diluted earnings per share for the nine months ended January 31, 2022 and 2021 (in thousands, except per share data): For the Nine Months Ended January 31, 2022 2021 Net Per Share Net Per Share Income Shares Amount Income Shares Amount Basic earnings $ 11,806 14,091 $ 0.84 $ 17,157 13,987 $ 1.23 Effect of dilutive stock awards — 241 (0.02 ) — 334 (0.03 ) Diluted earnings $ 11,806 14,332 $ 0.82 $ 17,157 14,321 $ 1.20
Share Based Payment Award Performance Shares Valuation Assumptions	We incorporate the following variables into the valuation model: For the Three and Nine Months Ended January 31, 2022 2021 Grant date fair market value American Outdoor Brands, Inc. $ 26.44 $ 13.30 Russell 2000 Index $ 2,277.45 $ 1,504.59 Volatility (a) American Outdoor Brands, Inc. 47.78 % 47.54 % Russell 2000 Index 30.69 % 27.70 % Correlation coefficient (b) 0.46 0.48 Risk-free interest rate (c) 0.33 % 0.17 % Dividend yield (d) 0 % 0 % (a) Expected volatility is calculated based on a peer group over the most recent period that represents (b) The correlation coefficient utilizes the same historical price data used to develop the volatility assumptions (c) The risk-free interest rate is based on the yield of a zero-coupon U.S. Treasury bill, commensurate with the three-year (d) We do not expect to pay dividends in the foreseeable future
Summary of Assumptions Used In Valuing ESPP Purchase Under ESPP	The following assumptions were used in valuing ESPP purchases under our ESPP during the nine months ended January 31, 2022 and 2021: For the Three and Nine Months Ended January 31, 2022 2021 Risk-free interest rate 0.05% - 0.09% 0.06% - 0.10% Expected term 6 months - 12 months 6 months - 12 months Expected volatility 54.7% - 56.7% 57.02% - 60.61% Dividend yield 0 % 0 %
RSUs and PSUs | 2020 Incentive Compensation Plan
Summary of Activity for Unvested RSUs and PSUs	A summary of activity for unvested RSUs and PSUs under our 2020 Incentive Compensation Plan for the nine months ended January 31, 2022 and 2021 is as follows: For the Nine Months ended January 31, 2022 2021 Weighted Weighted Total # of Average Total # of Average Restricted Grant Date Restricted Grant Date Stock Units Fair Value Stock Units Fair Value RSUs and PSUs outstanding, beginning of period 427,519 $ 11.75 — $ — Converted on August 24, 2020 — — 237,589 9.20 Awarded 112,996 27.14 244,364 14.10 Vested (113,135 ) 11.80 (36,221 ) 11.41 Forfeited (35,994 ) 14.45 (477 ) 12.77 RSUs and PSUs outstanding, end of period 391,386 $ 15.93 445,255 $ 11.70

Accrued Expenses (Tables)

Accrued Expenses (Tables)	9 Months Ended
	Jan. 31, 2022
Payables And Accruals [Abstract]
Schedule of Accrued Expenses	The following table sets forth other accrued expenses as of January 31, 2022 and April 30, 2021 (in thousands): January 31, 2022 April 30, 2021 Accrued freight $ 5,076 $ 2,466 Accrued sales allowances 4,330 2,931 Accrued commissions 1,359 1,578 Accrued professional fees 991 701 Accrued taxes other than income 823 1,052 Accrued warranty 649 717 Accrued employee benefits 438 153 Accrued other 201 245 Total accrued expenses $ 13,867 $ 9,843

Background, Description of Bu_4

Background, Description of Business, and Basis of Presentation - Additional Information (Details)	3 Months Ended		4 Months Ended	9 Months Ended		12 Months Ended
	Jan. 31, 2022USD ($)Customer	Jan. 31, 2021USD ($)Customer	Jan. 31, 2021USD ($)	Jan. 31, 2022USD ($)Customer	Jan. 31, 2021USD ($)Customer	Apr. 30, 2021USD ($)
Background Description Of Business And Basis Of Presentation [Line Items]
Corporate expenses						$ 2,700,000
Distribution expenses						1,900,000
Related party sales			$ 2,400,000
Accounts receivable	$ 45,346,000			$ 45,346,000		37,487,000
Impact on previously reported net income or comprehensive income						0
Net sales	$ 70,105,000	$ 82,649,000		$ 201,633,000	$ 212,214,000
Sales Revenue Net | Customer Concentration Risk
Background Description Of Business And Basis Of Presentation [Line Items]
Number of customer | Customer	1	1		1	1
Sales Revenue Net | Customer Concentration Risk | Customer One
Background Description Of Business And Basis Of Presentation [Line Items]
Net sales	$ 25,600,000	$ 23,500,000		$ 57,600,000	$ 61,800,000
Concentration risk, percentage	36.50%	28.40%		28.60%	29.10%
Sales Revenue Net | Customer Concentration Risk | Customer Two
Background Description Of Business And Basis Of Presentation [Line Items]
Net sales				$ 20,800,000
Concentration risk, percentage				10.30%
Accounts Receivable | Credit Concentration Risk
Background Description Of Business And Basis Of Presentation [Line Items]
Number of customer | Customer				2	2
Accounts Receivable | Credit Concentration Risk | Customer One
Background Description Of Business And Basis Of Presentation [Line Items]
Accounts receivable	$ 18,400,000	$ 17,600,000	17,600,000	$ 18,400,000	$ 17,600,000
Concentration risk, percentage				40.50%	31.40%
Accounts Receivable | Credit Concentration Risk | Customer Two
Background Description Of Business And Basis Of Presentation [Line Items]
Accounts receivable	$ 6,100,000	$ 6,300,000	$ 6,300,000	$ 6,100,000	$ 6,300,000
Concentration risk, percentage				13.40%	11.20%
Minimum
Background Description Of Business And Basis Of Presentation [Line Items]
Product shipment days				20 days
Maximum
Background Description Of Business And Basis Of Presentation [Line Items]
Product shipment days				90 days
Adjustment
Background Description Of Business And Basis Of Presentation [Line Items]
Other assets, current						4,800,000
Accounts receivable						(4,800,000)
Net Sales | Smith & Wesson Brands, Inc.
Background Description Of Business And Basis Of Presentation [Line Items]
Related party sales						$ 2,400,000

Background, Description of Bu_5

Background, Description of Business, and Basis of Presentation - Schedule of Trade Channel Net Sales (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2022	Jan. 31, 2021
Disaggregation of Revenue [Line Items]
Total net sales	$ 70,105	$ 82,649	$ 201,633	$ 212,214
Change in Total net sales	$ (12,544)		$ (10,581)
% Change in Total net sales	(15.20%)		(5.00%)
E-Commerce Channels
Disaggregation of Revenue [Line Items]
Total net sales	$ 35,397	36,450	$ 79,540	87,241
Change in Total net sales	$ (1,053)		$ (7,701)
% Change in Total net sales	(2.90%)		(8.80%)
Traditional Channels
Disaggregation of Revenue [Line Items]
Total net sales	$ 34,708	$ 46,199	$ 122,093	$ 124,973
Change in Total net sales	$ (11,491)		$ (2,880)
% Change in Total net sales	(24.90%)		(2.30%)

Background, Description of Bu_6

Background, Description of Business, and Basis of Presentation - Schedule of Geographic Makeup of Net Sales (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2022	Jan. 31, 2021
Disaggregation of Revenue [Line Items]
Total net sales	$ 70,105	$ 82,649	$ 201,633	$ 212,214
Change in Total net sales	$ (12,544)		$ (10,581)
% Change in Total net sales	(15.20%)		(5.00%)
Domestic Net Sales
Disaggregation of Revenue [Line Items]
Total net sales	$ 67,610	80,128	$ 191,599	205,124
Change in Total net sales	$ (12,518)		$ (13,525)
% Change in Total net sales	(15.60%)		(6.60%)
International Net Sales
Disaggregation of Revenue [Line Items]
Total net sales	$ 2,495	$ 2,521	$ 10,034	$ 7,090
Change in Total net sales	$ (26)		$ 2,944
% Change in Total net sales	(1.00%)		41.50%

Recently Adopted and Issued A_2

Recently Adopted and Issued Accounting Standards - Additional Information (Details)	9 Months Ended
	Jan. 31, 2022
Accounting Changes And Error Corrections [Abstract]
Accounting Standards Update [Extensible Enumeration]	ASU 2019-12
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true
Change in Accounting Principle, Accounting Standards Update, Adoption Date	May 1, 2021
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false]	true

Leases - Schedule of Assets and

Leases - Schedule of Assets and Liabilities Related to Operating Leases (Details) - USD ($) $ in Thousands	Jan. 31, 2022	Apr. 30, 2021
Operating Leases
Right-of-use assets	$ 27,475
Accumulated amortization	(3,165)
Right-of-use assets, net	24,310	$ 25,375
Lease liabilities, current portion	1,846	1,771
Lease liabilities, net of current portion	23,513	$ 24,780
Total operating lease liabilities	$ 25,359

Leases - Additional Information

Leases - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2022	Jan. 31, 2021
Leases [Abstract]
Operating lease cost	$ 934,000	$ 965,000	$ 2,800,000	$ 2,200,000
Short-term operating lease costs	$ 57,000	$ 32,000	$ 158,000	217,000
Operating lease, weighted average lease term	16 years 2 months 12 days		16 years 2 months 12 days
Operating lease, weighted average discount rate	5.40%		5.40%
Cash paid for amounts included in measurement of liabilities and operating cash flows			$ 1,400,000	$ 1,100,000

Leases - Schedule of Future Lea

Leases - Schedule of Future Lease Payments for Operating Leases (Details) - USD ($) $ in Thousands	Jan. 31, 2022	Apr. 30, 2021
Operating
2022	$ 804
2023	3,081
2024	2,055
2025	2,059
2026	2,005
2027	2,033
Thereafter	26,514
Total future lease payments	38,551
Less amounts representing interest	(13,192)
Total operating lease liabilities	25,359
Less current maturities of lease liabilities	(1,846)	$ (1,771)
Long-term maturities of lease liabilities	$ 23,513	$ 24,780

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets, Net - Summary of Intangible Assets (Details) - USD ($) $ in Thousands	Jan. 31, 2022	Apr. 30, 2021
Intangible Assets Excluding Goodwill [Line Items]
Total definite-lived intangible assets, Gross Carrying Amount	$ 162,870	$ 162,324
Total definite-lived intangible assets, Accumulated Amortization	(119,546)	(109,111)
Total definite-lived intangible assets, Net Carrying Amount	43,324	53,213
Indefinite-lived intangible assets, Net Carrying Amount	430	430
Total Intangible assets, Gross Carrying Amount	163,300	162,754
Total Intangible assets, Net Carrying Amount	43,754	53,643
Customer Relationships
Intangible Assets Excluding Goodwill [Line Items]
Total definite-lived intangible assets, Gross Carrying Amount	89,980	89,980
Total definite-lived intangible assets, Accumulated Amortization	(66,053)	(60,347)
Total definite-lived intangible assets, Net Carrying Amount	23,927	29,633
Developed Technology
Intangible Assets Excluding Goodwill [Line Items]
Total definite-lived intangible assets, Gross Carrying Amount	21,588	21,588
Total definite-lived intangible assets, Accumulated Amortization	(15,681)	(14,456)
Total definite-lived intangible assets, Net Carrying Amount	5,907	7,132
Patents, Trademarks, and Trade Names
Intangible Assets Excluding Goodwill [Line Items]
Total definite-lived intangible assets, Gross Carrying Amount	50,138	50,007
Total definite-lived intangible assets, Accumulated Amortization	(37,812)	(34,308)
Total definite-lived intangible assets, Net Carrying Amount	12,326	15,699
Definite-lived Intangible Assets Excluding Patents in Progress
Intangible Assets Excluding Goodwill [Line Items]
Total definite-lived intangible assets, Gross Carrying Amount	161,706	161,575
Total definite-lived intangible assets, Accumulated Amortization	(119,546)	(109,111)
Total definite-lived intangible assets, Net Carrying Amount	42,160	52,464
Patents in Progress
Intangible Assets Excluding Goodwill [Line Items]
Total definite-lived intangible assets, Gross Carrying Amount	1,164	749
Total definite-lived intangible assets, Net Carrying Amount	$ 1,164	$ 749

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets, Net - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2022	Jan. 31, 2021	Apr. 30, 2021
Finite-Lived Intangible Assets [Line Items]
Amortization expense of intangible assets	$ 3,400,000	$ 4,100,000	$ 10,400,000	$ 12,200,000
Weighted-average period for amortization of intangible assets			5 years
Goodwill	64,315,000		$ 64,315,000		$ 64,315,000
Adjustments to goodwill			0	$ 0
Goodwill impairment charges	109,300,000		109,300,000
Goodwill gross	$ 173,600,000		$ 173,600,000
Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Weighted-average period for amortization of intangible assets			5 years
Developed Technology
Finite-Lived Intangible Assets [Line Items]
Weighted-average period for amortization of intangible assets			6 years
Patents, Trademarks, and Trade Names
Finite-Lived Intangible Assets [Line Items]
Weighted-average period for amortization of intangible assets			5 years

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets, Net - Schedule of Future Expected Amortization Expense (Details) - USD ($) $ in Thousands	Jan. 31, 2022	Apr. 30, 2021
Finite-Lived Intangible Assets [Line Items]
Total definite-lived intangible assets, Net Carrying Amount	$ 43,324	$ 53,213
Definite-lived Intangible Assets Excluding Patents in Progress
Finite-Lived Intangible Assets [Line Items]
2022	3,453
2023	11,436
2024	9,698
2025	6,055
2026	4,962
2027	2,970
Thereafter	3,586
Total definite-lived intangible assets, Net Carrying Amount	$ 42,160	$ 52,464

Fair Value Measurement - Additi

Fair Value Measurement - Additional Information (Details) - USD ($)	Jan. 31, 2022	Apr. 30, 2021
Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Financial assets	$ 0
Financial liabilities	0
Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Financial assets	0
Financial liabilities	0
Fair Value, Recurring Basis | Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 22,800,000	$ 60,800,000

Inventories - Summary of Invent

Inventories - Summary of Inventories (Details) - USD ($) $ in Thousands	Jan. 31, 2022	Apr. 30, 2021
Inventory Disclosure [Abstract]
Finished goods	$ 107,210	$ 62,465
Finished parts	5,591	4,629
Work in process	169	445
Raw material	6,601	6,757
Total inventories	$ 119,571	$ 74,296

Debt - Additional Information (

Debt - Additional Information (Details) - Revolving Line of Credit - USD ($)	Aug. 24, 2020	Jan. 31, 2022
Debt Instrument [Line Items]
Revolving line of credit, borrowing capacity	$ 50,000,000
Revolving line of credit maturing term	5 years
Additional increase in credit commitment	$ 15,000,000
Interest rate, description		The revolving line bears interest at a fluctuating rate equal to the Base Rate or LIBOR, as applicable, plus the applicable margin.
Revolving line of credit		$ 0
Minimum
Debt Instrument [Line Items]
Debt instrument, spread on variable rate	0.75%
Maximum
Debt Instrument [Line Items]
Debt instrument, spread on variable rate	2.25%
LIBOR
Debt Instrument [Line Items]
Borrowings interest rate		2.06%

Equity - Additional Information

Equity - Additional Information (Details) - USD ($)	Mar. 10, 2022	Dec. 06, 2021	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2022	Jan. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock repurchase program, expire period		2023-12
Stock repurchase program, repurchased shares			364,398		364,398
Stock repurchased, shares			$ 7,011,000		$ 7,011,000
Shares excluded from computation of diluted earnings per share			0	0	0	0
Performance period					3 years
Percentage of maximum aggregate award granted					200.00%
Percentage of stock outperform in order for target award to vest					5.00%
2020 Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Implementation of employee stock purchase plan duration					12 months
Option exercise price per share as a percentage of fair market value					85.00%
Number of shares an employee may purchase under the stock purchase plan					2,500
Shares issued under employee stock purchase plan			$ 25,000		$ 25,000
Shares purchased by employees under employee stock purchase plan					34,722
RSUs and PSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unvested awards, unrecognized compensation expense			2,900,000		$ 2,900,000
Unvested awards, unrecognized compensation expense remaining contractual term					1 year 6 months
Employees and Directors | Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Awards granted, description					We grant RSUs to employees and directors. The awards are made at no cost to the recipient. An RSU represents the right to receive one share of our common stock and does not carry voting or dividend rights.
Awards granted, vesting period					4 years
Awards granted, vesting description					RSU grants to employees generally vest over a period of four years with one-fourth of the units vesting on each anniversary of the grant date.
Cost of Sales, Sales and Marketing, Research and Development, and General and Administrative Expenses
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense			$ 918,000	$ 904,000	$ 2,300,000	$ 2,100,000
Cost of Sales, Sales and Marketing, Research and Development, and General and Administrative Expenses | SWBI Corporate and Shared Employee
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense						$ 224,000
2020 Incentive Compensation Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares of common stock remain available for issuance			0		0
Stock options exercisable period					10 years
2020 Incentive Compensation Plan | PSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Awards cancelled					14,271
2020 Incentive Compensation Plan | RSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Awards cancelled					21,723	477
2020 Incentive Compensation Plan | RSUs and PSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Awards cancelled					35,994
2020 Incentive Compensation Plan | Executive Officers | PSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Awards granted					26,809	78,045
2020 Incentive Compensation Plan | Executive Officers | RSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Awards granted					28,948
2020 Incentive Compensation Plan | Executive Officers, Non-Executive Officer Employees and Directors | RSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Awards granted					75,387	166,319
2020 Incentive Compensation Plan | Non-executive Officer Employees and Directors | RSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Awards granted					46,439
2020 Incentive Compensation Plan | Directors | RSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Market value of awards delivered in connection with vesting of RSUs					$ 3,100,000
2020 Incentive Compensation Plan | Employees and Executive Officers | RSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Market value of awards delivered in connection with vesting of RSUs						$ 541,000
2018 Grant | PSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Awards vested					10,800
Maximum aggregate award percentage achieved					200.00%
2018 Grant | Executive Officers and Employees | PSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Awards granted					21,600
Subsequent Event
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock repurchase program, repurchased shares	472,566
Stock repurchased, shares	$ 8,000,000
Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock repurchase program, authorized amount		$ 15,000,000
Maximum | 2020 Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Authorized sale of shares of common stock			419,253		419,253
Payroll deduction of participant's compensation					20.00%
Maximum | 2020 Incentive Compensation Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares authorized to be issued			1,397,510		1,397,510
Incentive stock plans grants vest over in period					4 years
Minimum | 2020 Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Payroll deduction of participant's compensation					1.00%
Minimum | 2020 Incentive Compensation Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Incentive stock plans grants vest over in period					3 years

Equity - Schedule of Earnings p

Equity - Schedule of Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2022	Jan. 31, 2021
Equity [Abstract]
Basic earnings, Net income	$ 3,766	$ 8,029	$ 11,806	$ 17,157
Diluted earnings, Net income	$ 3,766	$ 8,029	$ 11,806	$ 17,157
Basic earnings, shares	14,054	13,999	14,091	13,987
Effect of dilutive stock awards, shares	151	255	241	334
Diluted earnings, shares	14,205	14,254	14,332	14,321
Basic earnings, per shares	$ 0.27	$ 0.57	$ 0.84	$ 1.23
Effect of dilutive stock awards, per shares		(0.01)	(0.02)	(0.03)
Diluted earnings, per shares	$ 0.27	$ 0.56	$ 0.82	$ 1.20

Equity - Share Based Payment Aw

Equity - Share Based Payment Award Performance Shares Valuation Assumptions (Details) - PSUs		3 Months Ended		9 Months Ended
		Jan. 31, 2022CorrelationCoefficient$ / shares	Jan. 31, 2021CorrelationCoefficient$ / shares	Jan. 31, 2022CorrelationCoefficient$ / shares	Jan. 31, 2021CorrelationCoefficient$ / shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Correlation coefficient | CorrelationCoefficient	[1]	0.46	0.48	0.46	0.48
Risk-free interest rate	[2]	0.33%	0.17%	0.33%	0.17%
Dividend yield	[3]	0.00%	0.00%	0.00%	0.00%
American Outdoor Brands, Inc.
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Grant date fair market value		$ 26.44	$ 13.30	$ 26.44	$ 13.30
Volatility	[4]	47.78%	47.54%	47.78%	47.54%
Russell 2000 Index
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Grant date fair market value		$ 2,277.45	$ 1,504.59	$ 2,277.45	$ 1,504.59
Volatility	[4]	30.69%	27.70%	30.69%	27.70%
[1]	The correlation coefficient utilizes the same historical price data used to develop the volatility assumptions
[2]	The risk-free interest rate is based on the yield of a zero-coupon U.S. Treasury bill, commensurate with the three-year
[3]	We do not expect to pay dividends in the foreseeable future
[4]	Expected volatility is calculated based on a peer group over the most recent period that represents

Equity - Share Based Payment _2

Equity - Share Based Payment Award Performance Shares Valuation Assumptions (Parenthetical) (Details)	9 Months Ended
	Jan. 31, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance based restricted stock unit performance period	3 years
PSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance based restricted stock unit performance period	3 years

Equity - Summary of Activity fo

Equity - Summary of Activity for Unvested RSUs and PSUs (Details) - 2020 Incentive Compensation Plan - RSUs and PSUs - $ / shares	9 Months Ended
	Jan. 31, 2022	Jan. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
RSUs and PSUs outstanding, beginning of period, Total # of restricted stock units	427,519
Converted on August 24, 2020, Total # of restricted stock units		237,589
Awarded, Total # of restricted stock units	112,996	244,364
Vested, Total # of restricted stock units	(113,135)	(36,221)
Forfeited, Total # of restricted stock units	(35,994)	(477)
RSUs and PSUs outstanding, end of period, Total # of restricted stock units	391,386	445,255
Weighted average grant date fair value, beginning of period	$ 11.75
Weighted average grant date fair value, Converted on August 24, 2020		$ 9.20
Weighted average grant date fair value, Awarded	27.14	14.10
Weighted average grant date fair value, Vested	11.80	11.41
Weighted average grant date fair value, Forfeited	14.45	12.77
Weighted average grant date fair value, end of period	$ 15.93	$ 11.70

Equity - Summary of Assumptions

Equity - Summary of Assumptions Used In Valuing ESPP Purchase Under ESPP (Details) - 2020 Employee Stock Purchase Plan	3 Months Ended		9 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2022	Jan. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Risk-free interest rate, minimum	0.05%	0.06%	0.05%	0.06%
Risk-free interest rate, maximum	0.09%	0.10%	0.09%	0.10%
Expected volatility, minimum	54.70%	57.02%	54.70%	57.02%
Expected volatility, maximum	56.70%	60.61%	56.70%	60.61%
Dividend yield	0.00%	0.00%	0.00%	0.00%
Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term	6 months	6 months	6 months	6 months
Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term	12 months	12 months	12 months	12 months

Accrued Expenses - Schedule of

Accrued Expenses - Schedule of Accrued Expenses (Details) - USD ($) $ in Thousands	Jan. 31, 2022	Apr. 30, 2021
Payables And Accruals [Abstract]
Accrued freight	$ 5,076	$ 2,466
Accrued sales allowances	4,330	2,931
Accrued commissions	1,359	1,578
Accrued professional fees	991	701
Accrued taxes other than income	823	1,052
Accrued warranty	649	717
Accrued employee benefits	438	153
Accrued other	201	245
Total accrued expenses	$ 13,867	$ 9,843

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2022	Jan. 31, 2021
Income Tax Disclosure [Abstract]
Income tax expense	$ 1,149,000	$ 2,244,000	$ 3,282,000	$ 5,746,000
Effective tax rate	23.40%	21.80%	21.80%	25.10%
Discrete tax benefit			$ 363,000	$ 575,000

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details)	12 Months Ended
	Apr. 30, 2018
Commitments And Contingencies Disclosure [Abstract]
Maximum percentage of additional section tariffs imposed on certain goods	25.00%

Segment Reporting - Additional

Segment Reporting - Additional Information (Details)	9 Months Ended
	Jan. 31, 2022SegmentBrandBrandLane
Segment Reporting [Abstract]
Number of operating segments | Segment	1
Number of distinct brands | Brand	20
Number of brand lanes | BrandLane	4

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) $ in Millions	Mar. 08, 2022USD ($)
Fahrenheit Technologies Inc | Subsequent Event
Subsequent Event [Line Items]
Business acquisition, aggregate price	$ 27