AMMO reports Q1 net loss of $1.1M, revenue down 44% to $34.3M, gross margin improves to 40.9%

Outdoor Holding Co

2024-Q1 EPS reported -$0.02 revenue$34,254,575

Net loss of $1.1M ($0.02 diluted EPS) vs net income of $3.3M ($0.02 EPS) in prior year period; adjusted EPS of $0.05 vs $0.07.
Revenue fell to $34.3M from $60.8M, driven by softer US commercial ammunition market; casing sales rose to $6.2M from $3.3M.
Gross margin expanded to 40.9% from 29.8% due to higher-mix of brass sales and marketplace; marketplace revenue $13.9M with take rate 5.8%.
Adjusted EBITDA of $6.6M vs $10.6M; nonrecurring legal expenses of $2.8M included as addback.
Cash from operations $13.0M; ended with $47.5M cash; repurchased ~739K shares in quarter, total over 1.0M.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Outdoor Holding Co reported financial results for first quarter of fiscal 2024, ended June 30, 2023.

Period: first quarter of fiscal 2024, ended June 30, 2023
Result: reported results

Exact text from the filing

On August 9, 2023, Ammo, Inc. (the "Company") reported its financial results for the fiscal quarterly period ended June 30, 2023.

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Source: SEC EDGAR

accession 0001493152-23-027353

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