Outdoor Holding Company Reports First Quarter Fiscal 2026 Financial Results

Outdoor Holding Company, the owner of GunBroker.com, has released its financial results for the first fiscal quarter ending June 30, 2025. The company, which recently rebranded from AMMO, Inc., is now focused on its e-commerce marketplace platform, GunBroker.com, following the sale of its ammunition division.

Financial Highlights

For the first quarter of fiscal 2026, Outdoor Holding Company reported net revenues of $11.9 million, a slight decrease from $12.3 million in the same period last year. The cost of revenues decreased to $1.5 million from $1.7 million, resulting in an improved gross profit margin of 87.2%, up from 85.8% in the prior year. Operating expenses were reduced by $0.4 million, and the net loss from continuing operations narrowed significantly to $5.9 million from $12.0 million. Adjusted EBITDA was $3.1 million, down from $4.1 million, and adjusted EPS was $0.02 compared to $0.03 in the previous year.

Business and Operational Highlights

Key operational achievements for the quarter included the completion of the ammunition division sale to Olin-Winchester, a settlement agreement for Delaware litigation, and the appointment of Steve Urvan as Chairman and CEO. The company also increased its liquidity, active marketplace listings, and registered GunBroker user accounts. The rebranding to Outdoor Holding Company was completed, marking a new strategic direction.

Strategic Initiatives and Corporate Developments

Outdoor Holding Company is focused on scaling its e-commerce marketplace platform, GunBroker.com. The company has implemented cost-reduction measures, realigned teams, and enhanced the GunBroker.com platform. Future strategic initiatives include launching universal payment processing, repurchasing shares (subject to Board approval), advancing restructuring efforts, and implementing further user enhancements to the platform.

Management's Perspective

Steve Urvan, Chairman and CEO, emphasized the company's commitment to operational efficiency, core marketplace growth, and disciplined capital allocation. He highlighted the company's efforts to restore compliance with Nasdaq listing standards and the anticipated reduction in legal and professional services expenses over the next 12 to 18 months. Urvan expressed confidence in the company's ability to build long-term value for stockholders.

Future Outlook

Outdoor Holding Company expects to achieve a run rate of $25 million in Adjusted EBITDA within 18 months, assuming relatively flat revenue. The company also aims to maximize free cash flow and leverage its substantial Net Operating Loss (NOL) to avoid income tax liability for a few years. Enhancements in buyer personalization, seller tools, and search functionality are expected to drive stronger conversion rates, higher average order values, and improved customer satisfaction.

SEC Filing: Outdoor Holding Co [ POWW ] - 8-K - Aug. 08, 2025