Business
AMMO, Inc. Increases Guidance for Fiscal Year 2021 From $58 Million to $62 Million, Reflecting a Projected 319% Year-Over-Year Revenue Growth
SCOTTSDALE, AZ, April 01, 2021 (GLOBE NEWSWIRE) -- AMMO, Inc. (Nasdaq: POWW) (“AMMO” or the “Company”), a premier American ammunition and munition components
About this update from Outdoor Holding Company
[{"type":"text","content":"SCOTTSDALE, AZ, April 01, 2021 (GLOBE NEWSWIRE) -- AMMO, Inc. (Nasdaq: POWW) (“AMMO” or the “Company”), a premier American ammunition and munition components manufacturer and technology leader, is pleased to be increasing its 2021 Fiscal Year revenue guidance to $62 million, representing year-over-year projected revenue growth of 319%. Comparison for Fiscal Fourth Quarter 2021 vs. Fiscal Fourth Quarter 2020 Revenue guidance for the quarter increases from $20 million to $24 million – a 400% increase in comparison to the $4.8 million for the Fiscal 2020 quarter. Comparison for Fiscal Year End 2021 vs. Fiscal Year End 2020 Revenue guidance for the fiscal year 2021 increases to $62 million – a 319% increase in comparison to the $14.8 million for fiscal year end 2020. Guidance for Fiscal Year End 2022 Revenue guidance for the fiscal year 2022 is $120 million as a standalone company – a 94% increase in comparison to the $62 million for fiscal year end 2021. “We are pleased to provide updated revenue guidance for the Company’s fiscal year 2021. The fourth quarter was our strongest quarter ever, with $24 million in revenue guidance, representing an increase of 400% year-over-year. AMMO anticipates domestic commercial demand to remain robust through the upcoming year, with anticipated military, import and export orders serving as additional growth drivers. Given this significant demand, we are increasing our revenue guidance in fiscal 2021 to approximately $62 million, which represents a year-over-year revenue growth rate of 319%,” reported AMMO’s CEO, Fred Wagenhals. He went on to say that “our revenue guidance as a standalone company is $120 million for our fiscal year ended March 31, 2022. We will be updating guidance as the previously announced Gunbroker.com transaction comes into focus such that it has an impact on our first quarter results.” About AMMO, Inc. With its corporate offices headquartered in Scottsdale, Arizona. AMMO designs and manufactures products for a variety of aptitudes, including law enforcement, military, sport shooting and self-defense. The Company was founded in 2016 with a vision to change, innovate and invigorate the complacent munitions industry. AMMO promotes branded munitions as well as its patented STREAK™ Visual Ammunition, /stelTH/™ subsonic munitions, and armor piercing rounds for military use. For mor...