Business
AMMO, Inc. Reports Fiscal Year 2022 Financial Results Including 285% Revenue Growth and Provides Fiscal Year 2023 Guidance Comprising of $300 Million to $310 Million in Revenues
SCOTTSDALE, Ariz., June 29, 2022 (GLOBE NEWSWIRE) -- AMMO, Inc. (Nasdaq: POWW, POWWP) (“AMMO” or the “Company”), the owner of GunBroker.com, the largest
About this update from Outdoor Holding Company
[{"type":"text","content":"SCOTTSDALE, Ariz., June 29, 2022 (GLOBE NEWSWIRE) -- AMMO, Inc. (Nasdaq: POWW, POWWP) (“AMMO” or the “Company”), the owner of GunBroker.com, the largest online marketplace serving the firearms and shooting sports industries, and a leading vertically integrated producer of high-performance ammunition and components, today reported results for its full fiscal year ended March 31, 2022. 2022 Fiscal Year versus 2021 Fiscal Year: Net Revenues increased 285% to $240.3 million.Gross profit margin grew to approximately 37%, compared to approximately 18%.Adjusted EBITDA of $75.5 million compared to $8.1 million, an 832% increase.Net Income of $33.2 million, compared to a net loss of $7.8 million.Diluted EPS of $0.27, compared to ($0.14), a 293% increase.Adjusted EPS of $0.53, compared to $0.07, a 651% increase. GunBroker.com “Marketplace” Metrics – 2022 Fiscal Year Marketplace revenue of approximately $65 million.New user growth averaged 55,000 per month.Average take rate increased to 5.1% compared to 4.6% in fiscal 2021.Loyalty program revenue increased 318.3% year-over-year Fiscal Year 2023 Guidance Total Revenues of $300 million to $310 millionEBITDA of $82 million to $85 millionAdjusted EBITDA of $108 million to $111 million “Fiscal 2022 was a transformational year for AMMO, as we more than tripled our sales of ammunition while becoming the world’s largest online marketplace for firearms through our acquisition of GunBroker.com.” commented AMMO Chairman and CEO Fred Wagenhals. “As impressive as this past year has been, we believe the opportunities in front of us are significant, both with the opening of our new manufacturing facility in July and several new revenue initiatives in our Marketplace business. “For perspective, AMMO delivered 400 million rounds of loaded ammunition in 2022, which has pushed us to capacity at our current facility. Our new facility will be capable of delivering an incremental one billion rounds of loaded ammunition, which we believe can be achieved organically over the next couple of years. We also generated $65 million in Marketplace revenues on $1.3 billion in transactions on our platform last year and we believe our new initiatives can more than double revenues at these levels going forward.\" “Our 2023 outlook reflects our confidence in continuing to deliver significant revenue growth and improving marg...