Price Target Changed • Mar 16
Price target increased by 12% to US$2.65 Up from US$2.38, the current price target is an average from 2 analysts. New target price is 28% above last closing price of US$2.07. Stock is up 45% over the past year. The company is forecast to post a net loss per share of US$0.055 next year compared to a net loss per share of US$0.58 last year. Announcement • Mar 03
Outdoor Holding Company Launches AI-Powered Listing Tool on GunBroker Marketplace Outdoor Holding Company introduced a proprietary AI-powered listing tool designed to drive seller performance, enhance marketplace quality and further strengthen the Company's long-term competitive position. The new feature enables sellers on GunBroker to automatically generate optimized product descriptions using artificial intelligence purpose-built for the firearms marketplace. The system is informed by 27 years of proprietary transactional data, buyer behavior insights and listing performance analytics unique to the GunBroker platform. By embedding the AI tool directly within the listing workflow, the Company has reduced friction in the listing creation process while standardizing quality across the marketplace. Sellers enter firearms specifications as usual and, following the photo upload step, may select "Use AI to Generate Desriptions." The system then produces a structured, marketplace-optimized description aligned with GunBroker best practices. The launch reflects Outdoor Holding Company's disciplined approach to deploying artificial intelligence in ways that directly enhance marketplace functionality, user experience, and economics. Unlike generic AI applications, the Company's solution is trained on proprietary marketplace data accumulated over nearly three decades, enabling vertical-specific optimization that off-the-shelf tools cannot replicate. The AI-powered listing tool represents one step in a broader technology roadmap. The Company will continue to evaluate and implement responsible AI-driven enhancements aimed at improving user experience, optimizing marketplace performance and unlocking additional operating leverage across its platform. Announcement • Feb 24
Outdoor Holding Company Reaches Settlement with Digital Cash Processing Outdoor Holding Company announced that it has entered into a settlement agreement with Innovative Computer Professionals Inc., d/b/a Digital Cash Processing ("DCP"), resolving the previously disclosed litigation pending in the United States District Court for the District of Minnesota. Under the terms of the agreement, the Company agreed to pay $4.4 million in full and final settlement of the matter. Upon payment, the parties will file a dismissal with prejudice. The agreement includes customary mutual releases, but does not release certain non-affiliate third-party contractors. The settlement does not constitute an admission of liability or wrongdoing by the Company or its subsidiary. After careful evaluation, the Board of Directors determined that resolving the matter at this stage eliminates ongoing uncertainty and substantial future legal costs. While the Company was prepared to continue defending the case, further litigation would have required significant time, expense, and executive attention. By bringing the matter to a close, the Company eliminates uncertainty and allows its leadership team to devote its full focus to operational execution, strategic initiatives, and long-term value creation. The Company expects to record a one-time charge of approximately $4.4 million in the current quarter, the impact of which will be partially offset by a reduction in budgeted operational legal expense over the next several years. The settlement is not expected to have a material impact on the Company's liquidity, capital resources, or ongoing operations. Outdoor Holding Company remains committed to disciplined capital allocation, operational rigor, and expanding its leadership position in its core markets to enhance marketplace performance and improve shareholder returns. Announcement • Jan 13
Outdoor Holding Company to Report Q3, 2026 Results on Feb 09, 2026 Outdoor Holding Company announced that they will report Q3, 2026 results Pre-Market on Feb 09, 2026 Announcement • Jan 06
Outdoor Holding Company (NasdaqCM:POWW) announces an Equity Buyback for $15 million worth of its shares. Outdoor Holding Company (NasdaqCM:POWW) announces an share repurchase program. Under the program, the company will repurchases up to $15 million worth of its outstanding common stock. The purpose of the program is disciplined capital allocation and long-term shareholder value. The repurchases will be funded from the Company’s existing cash balances, future operating cash flows, or other legally available funds. The program is valid till 12 months. Announcement • Dec 18
Outdoor Holding Company Announces Settlement in Sec Administrative Matter Outdoor Holding Company announced that it has reached a settlement with the U.S. Securities and Exchange Commission (“SEC”) to resolve its previously disclosed investigation. “We are pleased to have reached a resolution with the SEC which does not include a civil penalty or monetary sanction. The Company has worked hard to put this chapter behind us,” said Steve Urvan, Chairman and Chief Executive Officer of Outdoor Holding Company. Without admitting or denying the SEC’s findings except as to jurisdiction, the Company agreed to cease and desist from future violations of the antifraud and numerous other provisions of the federal securities laws stemming from, among other things: (i) failure to disclose a former executive officer’s employment and role; (ii) failure to disclose related party transactions involving that former executive officer; (iii) improper capitalization of certain equity issuance costs; (iv) understatement of stock compensation expenses; (v) disclosure concerning the calculation of Adjusted EBITDA; and (vi) inadequate internal accounting controls. The Order acknowledged that the Company is now operating under new senior management that is different from those responsible for the conduct leading to the violations described in the Order. A copy of the Order will be filed as an exhibit to a Current Report on Form 8-K and will be available on the Company’s website. In the Order, OHC also consented to undertakings requiring the Company to engage an outside compliance consultant to review and assist with the Company’s remediation of material weaknesses in internal control over financial reporting. The Company is required to fully cooperate with the compliance consultant, adopt and implement all of the compliance consultant’s recommendations within two years, and provide related certifications of compliance to the SEC staff. These undertakings align with OHC’s ongoing internal controls remediation efforts. Over the past year, the Company has undertaken a broad, multi-phase remediation program overseen directly by its Board of Directors, Audit Committee, and Disclosure Committee. These remediation efforts include, among other actions, completion of an independent investigation and restating its financial statements for fiscal years 2022, 2023 and 2024, each of the quarters within fiscal year 2024, and the first quarter of fiscal year 2025. The Company has replaced its prior senior leadership, expanded and upgraded its accounting and external reporting personnel, retained SOX and outside controls advisors, strengthened policies governing expense classification and capitalization, implemented enhanced period-end close and reconciliation controls, established a formal disclosure committee, and adopted a new robust process for identifying and disclosing related party transactions. The Company has also implemented training and governance enhancements designed to ensure these improvements are sustained over the long term. In August 2025, the Board reduced its size to five and added two new independent board members to increase financial expertise and improve board-level strategic guidance and governance. Announcement • Nov 22
Outdoor Holding Company Announces Resignation of Elizabeth Cross Chief Operating Officer, Effective November 28, 2025 On November 14, 2025, Elizabeth Cross, who serves as the Chief Operating Officer of the GunBroker division of Outdoor Holding Company (the “Company”), delivered notice to the Company of her resignation, effective November 28, 2025. Ms. Cross’s resignation did not result from any disagreement with the Company on any matter relating to the Company’s operations, policies, or practices. Price Target Changed • Nov 14
Price target increased by 40% to US$2.38 Up from US$1.70, the current price target is an average from 2 analysts. New target price is 30% above last closing price of US$1.82. Stock is up 49% over the past year. The company is forecast to post a net loss per share of US$0.06 next year compared to a net loss per share of US$0.58 last year. Reported Earnings • Nov 11
Second quarter 2026 earnings: EPS and revenues exceed analyst expectations Second quarter 2026 results: EPS: US$0.006 (up from US$0.056 loss in 2Q 2025). Revenue: US$12.0m (up 13% from 2Q 2025). Net income: US$656.2k (up US$7.31m from 2Q 2025). Profit margin: 5.5% (up from net loss in 2Q 2025). The move to profitability was primarily driven by lower expenses. Revenue exceeded analyst estimates by 3.0%. Earnings per share (EPS) also surpassed analyst estimates. Revenue is forecast to grow 2.7% p.a. on average during the next 2 years, compared to a 6.0% growth forecast for the Specialty Retail industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 81 percentage points per year, which is a significant difference in performance. New Risk • Nov 10
New major risk - Revenue and earnings growth Earnings have declined by 59% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 59% per year over the past 5 years. Minor Risk Currently unprofitable and not forecast to become profitable next year (US$12m net loss next year). Announcement • Oct 21
Outdoor Holding Company to Report Q2, 2026 Results on Nov 20, 2025 Outdoor Holding Company announced that they will report Q2, 2026 results Pre-Market on Nov 20, 2025 Major Estimate Revision • Sep 19
Consensus EPS estimates fall by 23% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from US$48.9m to US$47.9m. Losses expected to increase from US$0.11 per share to US$0.14. Leisure industry in the US expected to see average net income growth of 37% next year. Consensus price target of US$1.70 unchanged from last update. Share price fell 5.3% to US$1.44 over the past week. Announcement • Sep 17
Outdoor Holding Company Announces Management Changes On September 10, 2025, Tod Wagenhals, who serves as the Executive Vice President and Secretary of Outdoor Holding Company, delivered notice to the Board of Directors of the Company of his resignation from his position as the Secretary of the Company, effective September 10, 2025, and as the Executive Vice President of the Company, to be effective December 31, 2025. In connection with Mr. Wagenhals’ resignation as the Secretary of the Company, the Board appointed Jordan Christensen, the Company’s Chief Legal Officer, to the position of Secretary of the Company, effective September 10, 2025, to serve in such position in addition to his duties as Chief Legal Officer of the Company. Board Change • Sep 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director Houman Akhavan was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Major Estimate Revision • Aug 15
Consensus EPS estimates fall by 22%, revenue upgraded The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast increased from US$47.7m to US$48.9m. Forecast EPS reduced from -US$0.09 to -US$0.11 per share. Leisure industry in the US expected to see average net income growth of 38% next year. Consensus price target of US$1.70 unchanged from last update. Share price rose 15% to US$1.31 over the past week. Reported Earnings • Aug 10
First quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2026 results: US$0.057 loss per share (improved from US$0.13 loss in 1Q 2025). Revenue: US$11.9m (down 60% from 1Q 2025). Net loss: US$6.64m (loss narrowed 57% from 1Q 2025). Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) missed analyst estimates by 71%. Revenue is forecast to grow 4.8% p.a. on average during the next 2 years, compared to a 3.2% growth forecast for the Leisure industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 60 percentage points per year, which is a significant difference in performance. Price Target Changed • Jun 06
Price target decreased by 7.4% to US$2.20 Down from US$2.38, the current price target is an average from 2 analysts. New target price is 67% above last closing price of US$1.32. Stock is down 46% over the past year. The company is forecast to post a net loss per share of US$0.11 next year compared to a net loss per share of US$0.16 last year. Reported Earnings • May 21
Third quarter 2025 earnings released: US$0.23 loss per share (vs US$0.02 loss in 3Q 2024) Third quarter 2025 results: US$0.23 loss per share (further deteriorated from US$0.02 loss in 3Q 2024). Revenue: US$29.2m (down 15% from 3Q 2024). Net loss: US$26.9m (loss widened US$24.5m from 3Q 2024). Revenue is expected to decline by 22% p.a. on average during the next 2 years, while revenues in the Leisure industry in the US are expected to grow by 2.8%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 91 percentage points per year, which is a significant difference in performance. Announcement • Apr 03
Ammo, Inc. Announces Resignation of Jessica M. Lockett as A Member of the Board and All Committees, Effective March 30, 2025 On March 30, 2025, Jessica M. Lockett notified the Board of Directors of AMMO, Inc. (the “Company”) of her resignation from her position as a member of the Board and all committees thereof, effective March 30, 2025. Announcement • Feb 26
AMMO, Inc. Receives Notification of Deficiency from Nasdaq Related to Delayed Filing of Quarterly Report on Form 10-Q AMMO, Inc. announced that it received an expected additional deficiency notification letter from the Listing Qualifications Staff of The Nasdaq Stock Market LLC (“Nasdaq”) on February 19, 2025 (the “Notice”). The Notice indicated that the Company was not in compliance with Nasdaq Listing Rule 5250(c)(1) (the “Listing Rule”) as a result of the Company’s failure to timely file its Quarterly Report on Form 10-Q for the quarter ended December 31, 2024 (the “Form 10-Q”), as described more fully in the Company’s Form 12b-25 Notification of Late Filing filed with the Securities and Exchange Commission (the “SEC”) on February 10, 2025 (the “Form 12b-25”). The Listing Rule requires Nasdaq-listed companies to timely file all required periodic financial reports with the SEC. As reported in the Form 12b-25, the Form 10-Q cannot be filed within the prescribed time period without unreasonable effort or expense because (i) the Audit Committee of the Board of Directors, in consultation with the Company’s management, has determined that the financial statements for certain historical periods must be restated and (ii) an independent investigation (the “Investigation”) conducted by a law firm retained by a Special Committee of the Board of Directors of the Company, while nearing its conclusion, is still ongoing. The Company has until March 6, 2025, to submit an updated plan to regain compliance with the Listing Rule (the “Updated Plan”). The Company intends to timely submit the Updated Plan. Pursuant to the Notice, if Nasdaq accepts the Updated Plan, Nasdaq has the discretion to grant the Company an exception of up to 180 calendar days (the “Compliance Period”) from the due date of the Company’s initial delinquent filing, or until May 19, 2025, to regain compliance with the Listing Rule. While the Company cannot provide specific timing regarding the filing of the Form 10-Q, the Company continues to work diligently to complete the Form 10-Q and intends to file the Form 10-Q as soon as practicable to regain compliance with the Listing Rule within the Compliance Period. No assurance can be given that the Company will be able to regain compliance with the Listing Rule or maintain compliance with the other continued listing requirements set in the Nasdaq Listing Rules. If the Company does not regain compliance with the Listing Rule within the Compliance Period, Nasdaq could provide notice that the Company’s securities will become subject to delisting. If the Company receives notice that its securities are being delisted, Nasdaq rules permit the Company to appeal any delisting determination by Nasdaq staff to a hearings panel. The Notice has no immediate effect on the listing of the Company’s common stock or preferred stock on Nasdaq. Announcement • Feb 11
AMMO, Inc. announced delayed 10-Q filing On 02/10/2025, AMMO, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • Feb 03
AMMO, Inc., Annual General Meeting, Jul 29, 2025 AMMO, Inc., Annual General Meeting, Jul 29, 2025. Announcement • Nov 27
AMMO Receives Non-Compliance Letter Regarding Nasdaq Listing Rule 5250(c)(1) On November 20, 2024, AMMO, Inc. (the Company") received a deficiency notification letter (the Notice") from the Listing Qualifications Staff of The Nasdaq Stock Market LLC (Nasdaq"). The Notice indicated that the Company was not in compliance with Nasdaq Listing Rule 5250(c)(1) (the Listing Rule") as a result of the Company's failure to timely file its Quarterly Report on Form 10-Q for the quarter ended September 30, 2024 (the Form 10-Q"), as described more fully in the Company's Form 12b-25 Notification of Late Filing filed with the Securities and Exchange Commission (the SEC") on November 13, 2024 (the Form 12b-25"). The Listing Rule requires Nasdaq-listed companies to timely file all required periodic financial reports with the SEC. As reported in the Form 12b-25, the Form 10-Q cannot be filed within the prescribed time period without unreasonable effort or expense as a result of the ongoing independent investigation (the Investigation") conducted by a law firm retained by a Special Committee of the Board of Directors of the Company. The Company has until January 21, 2025, to submit a plan to regain compliance with the Listing Rule (the Plan"). The Company intends to timely submit the Plan, if necessary. Pursuant to the Notice, if Nasdaq accepts the Plan, Nasdaq has the discretion to grant the Company an exception of up to 180 calendar days (the Compliance Period") from the due date of the Form 10-Q, or until May 19, 2025, to regain compliance with the Listing Rule. While the Company cannot provide specific timing regarding the filing of the Form 10-Q, the Company continues to work diligently to complete the Form 10-Q and intends to file the Form 10-Q as soon as practicable to regain compliance with the Listing Rule within the Compliance Period. No assurance can be given that the Company will be able to regain compliance with the Listing Rule or maintain compliance with the other continued listing requirements set in the Nasdaq Listing Rules. If the Company does not regain compliance with the Listing Rule within the Compliance Period, Nasdaq could provide notice that the Company's securities will become subject to delisting. If the Company receives notice that its securities are being delisted, Nasdaq rules permit the Company to appeal any delisting determination by Nasdaq staff to a hearings panel. The Notice has no immediate effect on the listing of the Company's common stock or preferred stock on Nasdaq. Announcement • Nov 14
AMMO, Inc. announced delayed 10-Q filing On 11/13/2024, AMMO, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • Oct 01
Bragar Eagel & Squire, P.C. Announces Class Action Lawsuit Files Against AMMO, Inc Bragar Eagel & Squire, P.C announced that a class action lawsuit has been filed against AMMO, Inc. in the United States District Court for the District of Arizona on behalf of all persons and entities who purchased or otherwise acquired AMMO securities between August 19, 2020 and September 24, 2024, both dates inclusive (the “Class Period”). Investors have until November 29, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit. The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the company lacked adequate internal controls over financial reporting; (2) that there was a substantial likelihood the Company failed to accurately disclose all executive officers, members of management, and potential related party transactions in fiscal years 2020 through 2023; (3) that there was a substantial likelihood the Company failed to properly characterize certain fees paid for investor relations and legal services as reductions of proceeds from capital raises rather than period expenses in fiscal years 2021 and 2022; (4) there was a substantial likelihood the Company failed to appropriately value unrestricted stock awards to officers, directors, employees and others in fiscal years 2020 through 2022; and (5) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. Price Target Changed • Aug 12
Price target decreased by 12% to US$2.30 Down from US$2.63, the current price target is an average from 2 analysts. New target price is 53% above last closing price of US$1.51. Stock is down 27% over the past year. The company is forecast to post a net loss per share of US$0.02 next year compared to a net loss per share of US$0.16 last year. Reported Earnings • Aug 09
First quarter 2025 earnings: EPS and revenues miss analyst expectations First quarter 2025 results: US$0.066 loss per share (further deteriorated from US$0.016 loss in 1Q 2024). Revenue: US$31.0m (down 6.4% from 1Q 2024). Net loss: US$7.84m (loss widened 320% from 1Q 2024). Revenue missed analyst estimates by 7.6%. Earnings per share (EPS) also missed analyst estimates by 133%. Revenue is forecast to grow 8.6% p.a. on average during the next 2 years, compared to a 2.9% growth forecast for the Leisure industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 64 percentage points per year, which is a significant difference in performance. Announcement • Jul 25
AMMO, Inc. to Report Q1, 2025 Results on Aug 08, 2024 AMMO, Inc. announced that they will report Q1, 2025 results After-Market on Aug 08, 2024 New Risk • Jun 17
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 9.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (US$2.8m net loss in 2 years). Share price has been volatile over the past 3 months (9.7% average weekly change). Reported Earnings • Jun 16
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: US$0.16 loss per share (further deteriorated from US$0.066 loss in FY 2023). Revenue: US$138.9m (down 24% from FY 2023). Net loss: US$18.7m (loss widened 143% from FY 2023). Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) missed analyst estimates by 52%. Revenue is forecast to grow 9.8% p.a. on average during the next 2 years, compared to a 3.0% growth forecast for the Leisure industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 31 percentage points per year, which is a significant difference in performance. Announcement • May 31
AMMO, Inc. to Report Q4, 2024 Results on Jun 13, 2024 AMMO, Inc. announced that they will report Q4, 2024 results After-Market on Jun 13, 2024 Price Target Changed • Mar 28
Price target decreased by 7.4% to US$2.63 Down from US$2.83, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of US$2.75. Stock is up 34% over the past year. The company is forecast to post a net loss per share of US$0.10 next year compared to a net loss per share of US$0.066 last year. Announcement • Mar 15
AMMO, Inc. Announces Launch of Multi-Item Cart and Single Payment Portal on GunBroker.com to Streamline Customer Experience AMMO, Inc. announced the official launch of new tools to enhance the customer experience at GunBroker.com that incorporates a new multi-item cart and single payment portal. The multi-item cart allows customers to purchase multiple items from different sellers, with a single checkout and payment. Previously, buying more than one item required a corresponding number of checkouts for each purchase. Firearms and accessories, such as holsters, magazines, ammunition, etc., will all be incorporated into the new system that will require users only enter their federal firearms license (FFL), payment and shipping information one time. Any coupon or discounts offered by sellers, applied once, will automatically be applied to all eligible items. The cart will display orders requiring payment from auctions that customers have won along with immediate purchase items the user added to the cart. All these items can be checked out and paid for together. In addition, the checkout process has been streamlined, requiring single entry shipping information. Customers will select a FFL holder for restricted items and a shipping address for non-restricted items as the system automatically completes that transaction with the seller. Recent Insider Transactions • Mar 06
Founder & Executive Chairman of Board recently sold US$87k worth of stock On the 1st of March, Fred Wagenhals sold around 36k shares on-market at roughly US$2.40 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth US$481k. Fred has been a net seller over the last 12 months, reducing personal holdings by US$569k. Recent Insider Transactions • Feb 25
Founder & Executive Chairman of Board recently sold US$481k worth of stock On the 16th of February, Fred Wagenhals sold around 193k shares on-market at roughly US$2.50 per share. This transaction amounted to 2.6% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Fred's only on-market trade for the last 12 months. Reported Earnings • Feb 10
Third quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2024 results: US$0.02 loss per share (improved from US$0.042 loss in 3Q 2023). Revenue: US$36.0m (down 7.0% from 3Q 2023). Net loss: US$2.43m (loss narrowed 50% from 3Q 2023). Revenue exceeded analyst estimates by 3.4%. Earnings per share (EPS) missed analyst estimates by 33%. Revenue is forecast to grow 9.0% p.a. on average during the next 2 years, compared to a 2.0% growth forecast for the Leisure industry in the US. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has fallen by 35% per year, which means it is performing significantly worse than earnings. Announcement • Jan 26
AMMO, Inc. to Report Q3, 2024 Results on Feb 08, 2024 AMMO, Inc. announced that they will report Q3, 2024 results After-Market on Feb 08, 2024 Announcement • Nov 30
AMMO, Inc., Annual General Meeting, Jan 11, 2024 AMMO, Inc., Annual General Meeting, Jan 11, 2024, at 10:00 US Mountain Standard Time. Agenda: To elect nine directors to serve on Board of Directors; to ratify the appointment of Pannell Kerr Forster of Texas, P.C as independent registered public accounting firm for fiscal year ending March 31, 2024; to approve an amendment to the Ammo, Inc. 2017 Equity Incentive Plan to increase the number of shares of Common Stock authorized for issuance under the Plan; and to transact any other business that may properly come before the Annual Meeting. Reported Earnings • Nov 10
Second quarter 2024 earnings: EPS misses analyst expectations Second quarter 2024 results: US$0.07 loss per share (further deteriorated from US$0.014 loss in 2Q 2023). Revenue: US$34.4m (down 22% from 2Q 2023). Net loss: US$8.28m (loss widened 422% from 2Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 3.6% p.a. on average during the next 2 years, compared to a 3.5% growth forecast for the Leisure industry in the US. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Oct 27
AMMO, Inc. to Report Q2, 2024 Results on Nov 09, 2023 AMMO, Inc. announced that they will report Q2, 2024 results After-Market on Nov 09, 2023 Major Estimate Revision • Aug 16
Consensus revenue estimates decrease by 11%, EPS upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from US$160.2m to US$143.3m. EPS estimate increased from -US$0.035 to -US$0.02 per share. Leisure industry in the US expected to see average net income growth of 7.4% next year. Consensus price target of US$2.50 unchanged from last update. Share price fell 3.4% to US$2.00 over the past week. New Risk • Aug 11
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next year. Trailing 12-month net loss: US$12m Forecast net loss in 1 year: US$1.8m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 10
First quarter 2024 earnings: EPS in line with expectations, revenues disappoint First quarter 2024 results: US$0.016 loss per share (down from US$0.021 profit in 1Q 2023). Revenue: US$34.3m (down 40% from 1Q 2023). Net loss: US$1.87m (down 175% from profit in 1Q 2023). Revenue is forecast to grow 1.2% p.a. on average during the next 2 years, compared to a 3.9% growth forecast for the Leisure industry in the US. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Announcement • Jul 28
AMMO, Inc. to Report Q1, 2024 Results on Aug 09, 2023 AMMO, Inc. announced that they will report Q1, 2024 results After-Market on Aug 09, 2023 Major Estimate Revision • Jun 21
Consensus EPS estimates fall from profit to US$0.033 loss The consensus outlook for fiscal year 2024 has been updated. Expected to report loss instead of -US$0.033 instead of US$0.017 per share profit previously forecast. Revenue forecast unchanged at US$163.3m Leisure industry in the US expected to see average net income growth of 13% next year. Consensus price target up from US$2.67 to US$2.83. Share price rose 7.8% to US$2.20 over the past week. Reported Earnings • Jun 16
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: US$0.066 loss per share (down from US$0.27 profit in FY 2022). Revenue: US$191.4m (down 15% from FY 2022). Net loss: US$7.70m (down 125% from profit in FY 2022). Revenue exceeded analyst estimates by 3.5%. Earnings per share (EPS) missed analyst estimates by 62%. Revenue is expected to decline by 5.5% p.a. on average during the next 2 years, while revenues in the Leisure industry in the US are expected to grow by 3.9%. Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • Jun 01
AMMO, Inc. to Report Q4, 2023 Results on Jun 14, 2023 AMMO, Inc. announced that they will report Q4, 2023 results After-Market on Jun 14, 2023 Announcement • May 05
AMMO, Inc. Acknowledges Receipt of Urvan Lawsuit AMMO, Inc. acknowledged receipt of a lawsuit filed by Steve Urvan in the Delaware Court of Chancery. Mr. Urvan has served as a director of the Company since April 2021 when he joined the Board of Directors upon the closing of the Company’s acquisition of GunBroker.com. In August 2022, Mr. Urvan launched a proxy contest in which he sought to replace a majority of the Board of Directors. The parties ultimately settled the proxy contest by agreement in November 2022. On April 28, 2023, Mr. Urvan filed suit against the Company and certain individuals (including some of its officers and directors) in the Delaware Court of Chancery. Mr. Urvan’s complaint alleges that he was fraudulently induced to sell GunBroker.com to the Company more than two years ago. Mr. Urvan seeks partial rescission of the transaction, monetary damages and other relief. The individual defendants believe Mr. Urvan’s claims are meritless and represent a continuation of Mr. Urvan’s campaign against the Company, and they plan to vigorously defend the Company and themselves against Mr. Urvan. Recent Insider Transactions • Mar 29
President & COO recently bought US$88k worth of stock On the 23rd of March, Jared Smith bought around 55k shares on-market at roughly US$1.60 per share. This transaction increased Jared's direct individual holding by 1x at the time of the trade. In the last 3 months, they made an even bigger purchase worth US$102k. Jared has been a buyer over the last 12 months, purchasing a net total of US$190k worth in shares. Buying Opportunity • Mar 09
Now 21% undervalued Over the last 90 days, the stock is up 4.2%. The fair value is estimated to be US$2.52, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 79% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to decline by 18% in a year. Earnings is forecast to grow by 83% in the next year. Recent Insider Transactions • Feb 27
President & COO recently bought US$102k worth of stock On the 22nd of February, Jared Smith bought around 50k shares on-market at roughly US$2.04 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. This was Jared's only on-market trade for the last 12 months. Buying Opportunity • Feb 21
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 6.6%. The fair value is estimated to be US$2.52, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 79% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to decline by 18% in a year. Earnings is forecast to grow by 83% in the next year. Reported Earnings • Feb 16
Third quarter 2023 earnings: EPS and revenues miss analyst expectations Third quarter 2023 results: US$0.042 loss per share (down from US$0.072 profit in 3Q 2022). Revenue: US$38.7m (down 36% from 3Q 2022). Net loss: US$4.89m (down 159% from profit in 3Q 2022). Revenue missed analyst estimates by 29%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to stay flat during the next 3 years compared to a 4.0% growth forecast for the Leisure industry in the US. Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Announcement • Feb 15
AMMO, Inc. Provides Earnings Guidance for the Year 2023 AMMO, Inc. provided earnings guidance for the year 2023. For the year, the company expects revenues of $185 million. Announcement • Feb 01
AMMO, Inc. to Report Q3, 2023 Results on Feb 14, 2023 AMMO, Inc. announced that they will report Q3, 2023 results After-Market on Feb 14, 2023 Valuation Update With 7 Day Price Move • Jan 16
Investor sentiment improved over the past week After last week's 16% share price gain to US$2.36, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 13x in the Leisure industry in the US. Total returns to shareholders of 92% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$2.40 per share. Announcement • Jan 12
Ammo, Inc. Elects Randy E. Luth as Director AMMO, Inc. announced that at its Annual Meeting of Shareholders held on January 5, 2023, elected Randy E. Luth as director. Board Change • Dec 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Wayne Walker was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Major Estimate Revision • Nov 21
Consensus revenue estimates fall by 24% The consensus outlook for revenues in 2023 has deteriorated. 2023 revenue forecast decreased from US$295.1m to US$224.0m. EPS estimate fell from US$0.25 to US$0.06 per share. Net income forecast to grow 86% next year vs 0.1% growth forecast for Leisure industry in the US. Consensus price target down from US$8.00 to US$4.67. Share price fell 30% to US$2.18 over the past week. Valuation Update With 7 Day Price Move • Nov 21
Investor sentiment deteriorated over the past week After last week's 30% share price decline to US$2.18, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 11x in the Leisure industry in the US. Total returns to shareholders of 45% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$2.86 per share. Price Target Changed • Nov 16
Price target decreased to US$4.67 Down from US$8.00, the current price target is an average from 3 analysts. New target price is 112% above last closing price of US$2.20. Stock is down 67% over the past year. The company is forecast to post earnings per share of US$0.17 for next year compared to US$0.27 last year. Buying Opportunity • Nov 16
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 52%. The fair value is estimated to be US$2.85, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 91% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 14% in a year. Earnings is forecast to grow by 198% in the next year. Price Target Changed • Aug 16
Price target decreased to US$9.00 Down from US$10.75, the current price target is an average from 3 analysts. New target price is 89% above last closing price of US$4.76. Stock is down 33% over the past year. The company is forecast to post earnings per share of US$0.38 for next year compared to US$0.27 last year. Valuation Update With 7 Day Price Move • Aug 03
Investor sentiment improved over the past week After last week's 18% share price gain to US$5.46, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 12x in the Leisure industry in the US. Total returns to shareholders of 172% over the past three years. Major Estimate Revision • Jul 06
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 revenue forecast fell from US$311.8m to US$301.6m. EPS estimate rose from US$0.34 to US$0.38. Net income forecast to grow 46% next year vs 19% growth forecast for Leisure industry in the US. Consensus price target down from US$10.75 to US$10.00. Share price rose 3.4% to US$4.21 over the past week. Reported Earnings • Jun 30
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: US$0.27 (up from US$0.14 loss in FY 2021). Net income: US$30.6m (up US$38.4m from FY 2021). Revenue missed analyst estimates by 2.4%. Earnings per share (EPS) also missed analyst estimates by 22%. Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jun 16
Investor sentiment deteriorated over the past week After last week's 15% share price decline to US$3.79, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 10x in the Leisure industry in the US. Total returns to shareholders of 72% over the past three years. Valuation Update With 7 Day Price Move • May 27
Investor sentiment improved over the past week After last week's 17% share price gain to US$4.45, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 10x in the Leisure industry in the US. Total returns to shareholders of 108% over the past three years. 
