Axil Brands reports FY2024 record revenue $27.5M, net income $2.0M, diluted EPS $0.21

Axil Brands, Inc.

Revenue $27.5M, +17% YoY; gross margin 73.4% vs 75.3% prior year due to new retail channel costs.
Net income $2.0M vs $1.8M; diluted EPS $0.21 (incl. $0.08 gain on preferred redemption) vs $0.10.
Operating income $1.5M vs $1.98M; operating expenses 68.0% of revenue vs 66.9%, driven by marketing and NYSE listing.
Cash from operations $2.7K vs $2.9M; inventory increased to $3.4M from $1.3M.
Diluted weighted avg shares 16.2M; as of Aug 13, 2024, diluted shares reduced 49% to ~8.3M.

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