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| Related Party Transactions | 13. Related Party Transactions Transactions with JS Global Prior to the separation, the Company operated as part of JS Global’s broader corporate organization rather than as a stand-alone public company and engaged in various transactions with JS Global entities. Following the separation and distribution, JS Global continues to be a related party due to a common significant shareholder and board member of both the Company and JS Global. Our arrangements with JS Global entities and/or other related persons or entities as of the separation are described below. Supplier Agreements The Company historically relied on a JS Global purchasing office entity to source finished goods on the Company’s behalf and to provide certain procurement and quality control services. Additionally, the Company purchases certain finished goods directly from a subsidiary of JS Global. Finished goods purchased by the Company from JS Global entities amounted to $12.8 million and $25.1 million for the three months ended March 31, 2026 and 2025, respectively. Sourcing Services Agreement In connection with the separation, the Company entered into a sourcing services agreement with JS Global. Pursuant to the agreement, the Company procured products from certain suppliers in the Asia-Pacific region (“APAC”), and JS Global provided coordination, process management and relationship management support to us with respect to such suppliers. The Company retained the right to procure such products and services from third parties. The Company paid JS Global a service fee based on the aggregate amount of products procured by the Company from such suppliers managed by JS Global under the agreement. The Sourcing Services Agreement had a term that commenced July 28, 2023 and ended on July 31, 2025. The Company paid JS Global the following: (i) for the period July 28, 2023 to June 30, 2024, an amount equal to 4% of the procurement amount during such period; and (ii) for the period from July 1, 2024 until December 31, 2024, an amount equal to 2% of the procurement amount during such period; and (iii) for the period from January 1, 2025 until the end of the term, an amount equal to 1% of the procurement amount during such period. Fees incurred by the Company related to this agreement were $2.4 million for the three months ended March 31, 2025 and were included in cost of inventories. Brand License Agreement In connection with the separation, the Company entered into a brand license agreement with JS Global, in which the Company granted to JS Global the non-exclusive rights to obtain, produce and source, and the exclusive rights to distribute and sell, our brands of products in certain international markets in APAC. The brand license agreement has a term of 20 years from the date of the separation. Under this agreement, JS Global pays to SharkNinja a royalty of 3% of net sales of licensed products. The Company earned royalty income of $3.3 million and $4.8 million for the three months ended March 31, 2026 and 2025, respectively, which was included in net sales. Product Development Agreements In connection with the separation, the Company entered into an agreement with JS Global to provide certain research and development, and related product management, services to JS Global entities related to the distribution of products in APAC. Under this agreement and subsequent amendments, the Company earned product development service fees of $2.9 million and $1.7 million for the three months ended March 31, 2026 and 2025, respectively, which were recorded as a reduction of research and development expenses. Transition Services Agreement In connection with the separation, the Company entered into a transition services agreement with JS Global pursuant to which the Company provided certain transition services to JS Global, in order to facilitate the transition of the separated JS Global business. The services were provided on a transitional basis for a term of twenty-four months, subject to a three-month extension by JS Global. Service fees related to this agreement were $0.8 million for the three months ended March 31, 2025, and were recorded as a reduction of general and administrative expenses. The transition services agreement ended on July 31, 2025. The following is a summary of the related party transactions and balances associated with JS Global:
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