Ammo Q4 2023 Earnings Report
Key Takeaways
AMMO, Inc. reported a decrease in fourth-quarter revenue by 37.7% compared to the prior year quarter, with total revenues of $43.7 million. The decrease is mainly attributable to its ammunition segment and the inflationary impacts that are currently affecting the market. The company is shifting to a leaner operating model focusing on higher margin ammunition and increased brass sales.
Total revenues decreased by 37.7% to $43.7M compared to the prior year quarter.
Cost of revenues was approximately $31.8M, compared to $49M in the comparable prior year quarter.
Recorded adjusted EBITDA of approximately $3.8M, compared to prior year quarter adjusted EBITDA of $10.7M.
Loss per share of $0.04 for the quarter or Adjusted Net Income per Share of $0.03 in comparison to a net income per share of $0.00 in the prior year quarter or Adjusted Net Income per Share of $0.07.
Ammo
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Forward Guidance
AMMO, Inc. expects the payment suite and cart platform to launch in the first half of its 2024 fiscal year, which should drive growth and profitability to the site. The transition to more profitable sales activity is currently in effect for the first quarter of its 2024 fiscal year by shifting focus to more sales of premium brass and large caliber ammunition rounds, all of which drive improved margin.