Outdoor Holding Company, formerly known as AMMO, Inc., reported a decline in financial performance for the second quarter of fiscal year 2025, ending September 30, 2024. The company generated total revenues of $31.4 million, a decrease of 8.6% from $34.4 million in the same period last year. For the six months ended September 30, 2024, revenues were $62.4 million, down 9.1% from $68.6 million in the prior year. The decrease in revenue was attributed to reduced demand in both the ammunition and marketplace segments, influenced by market conditions and a shift in operational strategy focusing on higher-margin brass casing production.
The company's net loss for the quarter was $12.4 million, compared to a loss of $7.7 million in the same quarter of the previous year. For the six-month period, the net loss increased to $27.2 million from $9.0 million year-over-year. The increase in losses was primarily driven by higher operating expenses, which rose to $19.7 million for the quarter, up from $17.3 million in the prior year, largely due to increased legal fees and professional expenses related to ongoing litigation and operational improvements.
In terms of operational developments, Outdoor Holding Company continues to focus on its e-commerce platform, GunBroker, which serves as a significant revenue source. The company reported 8.2 million users on the platform, with ongoing enhancements such as financing options for buyers and a new feature for recommended items. The company also aims to expand its product offerings and improve profitability through increased sales of proprietary ammunition and enhanced operational efficiencies at its Manitowoc, Wisconsin facility.
The company’s balance sheet showed a decrease in cash and cash equivalents to $33.5 million as of September 30, 2024, down from $55.6 million at the end of the previous fiscal year. This decline was attributed to significant cash outflows related to legal settlements, operational expenses, and stock repurchases. The company reported a total of 118.7 million shares outstanding as of the reporting date. Looking ahead, Outdoor Holding Company anticipates that existing working capital and cash flow from operations will be sufficient to meet its operational needs over the next 12 months, while continuing to explore opportunities for growth and market expansion.
About AMMO, INC.
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