Academy Sports and Outdoors, In

Filing receipts

“29 The increase in cash flows from operating assets and liabilities was primarily attributable to: • $46.7 million increase in cash flows from working capital due to the pull-forward of inventory purchases in the prior year period at pre-tariff rates; and • $17.2 million increase in accounts receivable due to timing of payments received; offset by • $46.7 million decrease in prepaid expenses and other current assets largely driven by litigation settlements received in the prior year period and timing of construction reimbursement payments received; • $12.1 million decrease in accrued expenses and other current liabilities primarily due to an increase in accrued sales and use tax as a result...”

“This decrease was a result of increased sales and ongoing expense discipline across the organization in addition to lapping the Jordan Brand launch in the 2025 first quarter.”

“This decrease is primarily due to decreased capital expenditures for new stores as well as corporate, e-commerce, and information technology programs in the 2026 first quarter compared to the 2025 first quarter.”