Ammo, Inc., the owner of, reported net revenues increased 285 percent in its fiscal year ended March 31, to $240.3 million.

Highlights include:

  • Net Revenues increased 285 percent to $240.3 million;
  • Gross profit margin grew to approximately 37 percent compared to roughly 18 percent;
  • Adjusted EBITDA of $75.5 million compared to $8.1 million, an 832 percent increase;
  • Net income of $33.2 million compared to a net loss of $7.8 million;
  • Diluted EPS of $0.27 compared to ($0.14), a 293 percent increase; and
  • Adjusted EPS of $0.53 compared to $0.07, a 651 percent increase. Marketplace Metrics
2022 Fiscal Year

  • Marketplace revenue of approximately $65 million;
  • New user growth averaged 55,000 per month;
  • The average take rate increased to 5.1 percent compared to 4.6 percent in fiscal 2021; and
  • Loyalty program revenue increased 318.3 percent year-over-year.

Fiscal Year 2023 Guidance

  • Total Revenues of $300 million to $310 million;
  • EBITDA of $82 million to $85 million; and
  • Adjusted EBITDA of $108 million to $111 million.

“Fiscal 2022 was a transformational year for Ammo as we more than tripled our sales of ammunition while becoming the world’s largest online marketplace for firearms through our acquisition of,” said Ammo’s Chairman and CEO Fred Wagenhals. “As impressive as this past year has been, we believe the opportunities in front of us are significant, both with the opening of our new manufacturing facility in July and several new revenue initiatives in our Marketplace business.

“For perspective, Ammo delivered 400 million rounds of loaded ammunition in 2022, which has pushed us to capacity at our current facility. Our new facility will be capable of delivering an incremental one billion rounds of loaded ammunition, which we believe can be achieved organically over the next couple of years. We also generated $65 million in Marketplace revenues on $1.3 billion in transactions on our platform last year, and we believe our new initiatives can more than double revenues at these levels going forward.”

“Our 2023 outlook reflects our confidence in continuing to deliver significant revenue growth and improving margins through growth via initiative deployment and the refinement of product mix within the Marketplace and via significant increases in capacity and efficiencies in our ammunitions business operating from our new plant through the balance of this fiscal year and beyond,” concluded Wagenhals.