Business
AMMO, Inc. Reports Financial Results for Second Quarter Fiscal 2022
Record Net Revenues of $61.0 Million Including Marketplace Revenue of $16.8 Million Diluted EPS of $0.11 Compared to ($0.05) Adjusted EPS of $0.17 Compared to
About this update from Outdoor Holding Company
[{"type":"text","content":"Record Net Revenues of $61.0 Million Including Marketplace Revenue of $16.8 Million Diluted EPS of $0.11 Compared to ($0.05) Adjusted EPS of $0.17 Compared to ($0.01) Raises Fiscal 2022 Outlook to $250 Million of Revenue and $80 Million of Adjusted EBITDA SCOTTSDALE, AZ, Nov. 15, 2021 (GLOBE NEWSWIRE) -- AMMO, Inc. (Nasdaq: POWW, POWWP) (“AMMO” or the “Company”), a leading vertically integrated producer of high-performance ammunition and components and owner of GunBroker.com, the largest online marketplace serving the firearms and shooting sports industries, today announced results for its second quarter of fiscal 2022 ended September 30, 2021. Second Quarter Fiscal 2022 versus Second Quarter Fiscal 2021: Net revenues increased 408% to $61.0 millionMarketplace revenue of $16.8 millionGross profit margin was 43.0% compared to 10.7%Net income was $14.1 million compared to a net loss of $2.3 millionDiluted EPS of $0.11 compared to ($0.05); Adjusted EPS of $0.17 compared to ($0.01)Adjusted EBITDA was $24.0 million versus $0.4 millionBacklog of over $185 million “Momentum remains very strong across our entire business and we reported another record quarterly performance that exceeded estimates for revenue and Adjusted EBITDA. Trends accelerated in the second quarter with Ammunition revenue increasing 360%,” said Fred Wagenhals, AMMO’s Chairman and Chief Executive Officer. “Marketplace revenue growth is being driven by increases in the number of bids, items sold, as well as average ticket amount, coupled with significant increases in adoption rates for our new loyalty program. Margins continued to expand significantly driven by growth in our Marketplace segment, as well as scale-related efficiencies and capacity increases in our core Ammunition business. We also announced another new U.S. military contract in September, and construction activities related to our new state-of-the-art Wisconsin plant continue to track to a mid- 2022 Summer grand opening. Strong execution by our team across our platform is enabling us to again increase guidance as we remain well positioned for future growth.” Second Quarter Fiscal 2022 Results Net revenues of $61.0 million were up 408% versus last year, driven by continued strength in our Ammunition business and incremental revenue realized as a result of our GunBroker.com acquisition. Ammunition sales t...