Outdoor Holding Company, the parent of GunBroker.com and formerly Ammo, Inc., reduced its loss in its first fiscal quarter ended June 30 as revenues decreased 3.3 percent.

Financial Highlights

  • Net Revenues of $11.9 million vs. $12.3 million
  • Cost of Revenues decreased to $1.5 million from $1.7 million
  • Gross profit margin increased to approximately 87.2 percent compared to 85.8 percent
  • Operating expenses decreased $0.4 million
  • Net loss from continuing operations of ($5.9) million, compared to a net loss of ($12.0) million
  • Decreased diluted LPS from continuing operations to ($0.06) from ($0.11)
  • Adjusted EBITDA of $3.1 million compared to $4.1 million
  • Adjusted EPS of $0.02 compared to $0.03

Operational Highlights

  • Closed ammunition division sale to Olin-Winchester
  • Entered into a settlement agreement for Delaware litigation
  • Appointed Steve Urvan chairman and CEO
  • Increased liquidity
  • Increased active marketplace listings
  • Increased registered GunBroker user accounts
  • Completed rebranding from Ammo, Inc. to Outdoor Holding Company

Steve Urvan, Outdoor Holding Company’s chairman and CEO, commented, “Our first quarter marks a turning point as we aggressively reshape the business to focus on operational efficiency, core marketplace growth, and disciplined capital allocation. We’ve implemented decisive cost-reduction measures, realigned our teams, and renewed our commitment to enhancing the GunBroker.com platform. We are building a more agile and focused company that can better deliver long-term value for stockholders.”

Outdoor Holding Company delivered strong financial and operational results for the first quarter of fiscal 2026, reflecting early progress in its strategic transformation. Following the sale of its ammunition division and rebranding from Ammo Inc., the company is now focused on scaling its GunBroker.com e-commerce marketplace. Corporate restructuring is expected to drive greater operational efficiency, capital allocation, and sustained cost and growth improvements in gross merchandise value (GMV).

Net revenues totaled $11.9 million, down slightly from the prior-year period, reflecting broader macroeconomic softness impacting consumer discretionary categories, particularly firearms-related businesses. Despite revenue headwinds, gross margin expanded to 87.2 percent, compared to 85.8 percent in the prior year period, driven by improved platform monetization and an increasing mix of high-margin seller services, such as advertising and listing enhancements. Operating expenses decreased by $0.4 million year-over-year, as the company implemented cost reduction initiatives aligned with its transition to an asset-light, marketplace-only model. As the company continues to resolve legal and regulatory disputes, we expect legal and other professional services expenses to gradually abate.

Compared to the prior year period, key marketplace performance indicators in the first fiscal quarter of 2026 showed continued momentum:

  • Gross Merchandise Value remained strong despite significant market headwinds and decreases in overall consumer discretionary spending
  • Gross Margin increased despite a decline in revenue, demonstrating our commitment to controlling our costs of revenue
  • Take rate (net revenue as a percentage of GMV) remained stable, with targeted pricing incentives balanced against long-term monetization goals.
  • Active listings increased year-over-year as more third-party sellers engaged with the platform.
  • Registered user accounts grew to 8.5 million during the quarter — a new high-water mark
  • Average Order Value increased from $425 to $444 per order

Platform upgrades during the quarter included enhancements to search functionality, improved seller programs and analytics, and further refinement of buyer personalization algorithms – all aimed at increasing engagement, conversion, and customer lifetime value. These improvements contributed to higher average order values and better buyer satisfaction scores.

Net loss from continuing operations narrowed substantially to $5.9 million, compared to $12.0 million in the first quarter of fiscal 2025, primarily due to recording a full valuation allowance on net deferred tax assets, which contributed to a larger loss for the first quarter in FY 2025. Adjusted EBITDA was $3.1 million compared to $4.1 million in the prior-year quarter, reflecting lower revenue, partially offset by improved gross margin and reduced operating costs.

The company ended the quarter with over $63 million in cash, providing a stable financial foundation to reinvest in growth. Management stated that it remains committed to a disciplined capital allocation strategy, focusing on organic marketplace growth, operational efficiency, and long-term stockholder value creation.

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