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Jun 30, 2025
Ammo Q1 2026 Earnings Report
Delivered nearly $11.9M in revenue with expanded gross margin and a narrower net loss as the company pivoted to a marketplace-only model.
Key Takeaways
Outdoor Holding Company (formerly AMMO, Inc.) reported Q1 FY26 net revenues of $11,857,376, gross margin of 87.2%, and a net loss attributable to common shareholders of $7,232,459; Adjusted EPS was $0.02 as the business transitioned to a focused GunBroker.com marketplace strategy.
Revenue was $11,857,376 with cost of revenues of $1,522,398, driving gross profit of $10,334,978 and an 87.2% gross margin.
Loss from operations narrowed to $6,010,675 and net loss from continuing operations to $5,862,693; total diluted EPS was -$0.06.
Adjusted EBITDA reached $3,138,115 and Adjusted EPS was $0.02, reflecting improved mix and cost controls.
Liquidity strengthened with $63,363,812 in cash and cash equivalents at quarter-end.
Forward Guidance
Management is focused on scaling the GunBroker.com marketplace, reducing SG&A via restructuring, and launching universal payment processing, while acknowledging macro headwinds and elevated legal/compliance costs expected to abate over the next 12–18 months.
Positive Outlook
- Singular focus on scaling the GunBroker.com marketplace following ammunition divestiture.
- Planned universal payment processing to increase GMV and high-margin revenue.
- Restructuring initiatives aimed at lowering SG&A and improving cash flow.
- Platform enhancements in search, seller tools, and personalization to lift conversion and AOV.
- Strong liquidity with over $63M in cash to reinvest in growth.
Challenges Ahead
- Broader macro softness in firearms-related consumer demand.
- Elevated legal, compliance, and investigation-related costs near term.
- Winding down residual costs from ammunition operations increases corporate SG&A in the short run.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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