Business
AMMO, Inc. Reports Fourth Quarter and Fiscal Year 2023 Financial Results
SCOTTSDALE, Ariz., June 14, 2023 (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 14, 2023 (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 Fourth Quarter and Fiscal Year 2023, ended March 31, 2023. Fiscal Year 2023 Overview ●Net Revenues of $191.4 million, a 20.3% decrease.●Gross profit margin of approximately 28.9%.●Adjusted EBITDA of $26.4 million, compared to $60.8 million.●Net loss of ($4.6) million, compared to net income of $33.2 million.●Diluted EPS of ($0.07), compared to $0.27.●Adjusted EPS of $0.16, compared to $0.46. GunBroker.com “Marketplace” Metrics – Fiscal Year 2023 ●Marketplace revenue of approximately $63.1 million.●New user growth averaged 38,000 per month.●Average take rate increased to 5.6% compared to 5.1% in fiscal 2022. Fourth Quarter 2023 Overview ●Net Revenues decreased 37.7% to $43.7 million.●Gross profit margin of approximately 27.3%.●Adjusted EBITDA of $3.8 million compared to $10.7 million.●Net loss of ($2.9) million, compared to net income of $0.5 million.●Diluted EPS of ($0.03), compared to $0.00.●Adjusted EPS of $0.03, compared to $0.07. GunBroker.com “Marketplace” Metrics – Fourth Quarter 2023 ●Marketplace revenue of approximately $16.7 million.●New user growth averaged 40,000 per month.●Average take rate increased to 6.0% compared to 5.4% in fiscal 2022. Fred Wagenhals, AMMO’s Chairman & CEO, commented that “[w]e believe the increase in production capacity at our state-of-the-art Wisconsin plant, coupled with the continuing enhancement rollout to the GunBroker.com Marketplace site, has positioned our Company to effectively navigate current market-wide headwinds resulting from the current inflationary and recessionary drivers impacting the consumer. “We are primed to take hold of these opportunities. The addition of our newest executive management team member, Jared Smith, President & COO, supports the high level of confidence I have in AMMO’s future. Jared’s experience, the wealth of his relationships, intellect and drive are all valuable assets for our organization as we chart our path forward to a bright future through the balance of this fiscal year and beyond,” Mr. Wagenhals concluded....