- AMMO Estimates Record Sales of $55 million or 272% Increase Year-Over-Year
- AMMO listed on NASDAQ
SCOTTSDALE, Ariz., Dec. 08, 2020 (GLOBE NEWSWIRE) -- AMMO, Inc. (NASDAQ: POWW) (“AMMO” or the “Company”), a premier American ammunition and munition components manufacturer and technology leader, is providing a corporate update amidst unprecedented demand in the U.S. domestic and International commercial ammunition markets.
AMMO has a current record backlog of $135 million in booked orders as of December 1, 2020—the largest in Company history. “Our record backlog has continued to grow, with booked orders coming in across all channels,” said Fred Wagenhals, AMMO’s CEO. “We continue to expand our footprint with retailers across the country while continuing to build brand awareness and loyalty with customers.”
Financial Summary for Fiscal Second Quarter 2021 vs. Fiscal Second Quarter 2020
- Total revenue increased 307% to $12 million compared to $2.9 million.
- Ammunition revenue increased 564% to $8.7 million.
- Casing revenue increased 100% to $3.3 million.
Guidance for Fiscal Third Quarter 2021 vs. Fiscal Third Quarter 2020
- Total revenue estimate increased 435% to $15 million compared to $2.8 million.
- 25% increase in revenue when compared to $12 million in the 2nd quarter of fiscal 2021.
Guidance for Fiscal Year 2021 vs. Fiscal Year 2020
- Total revenue estimate increased to $55 million compared to $14.8 million.
- Year-over-year revenue growth rate of 272%
“We expect positive adjusted EBITDA to significantly increase over the next several quarters as we continue to maintain our focus on driving sales of our higher margin product offerings and enhancing manufacturing efficiencies across our entire product portfolio,” said Fred Wagenhals, AMMO’s CEO.
AMMO Announces Pricing of $18 Million Upsized Public Offering of Common Stock and Concurrent Uplisting to The Nasdaq Capital Market™
- As of December 1, 2020, AMMO’s common stock is listed on The Nasdaq Capital Market® (“NASDAQ”) under its pre-uplisting “POWW” ticker symbol.
- The Company successfully closed an approximate $18 million offering at $2.10 per share on December 3, 2020.
“Our singular focus at AMMO is to upset the stagnant ammunition industry in order to drive long-term stockholder value. With the uplisting and strategic funding successfully completed, we will continue to implement our plans to strategically expand our operations as we continue to disrupt the industry with cutting-edge and technologically improved product offerings,” stated Mr. Wagenhals.
“Management is very excited for the future for the Company’s shareholders and the entire AMMO team. We anticipate significant growth in sales, increased margins and continuing positive adjusted EBITDA performance. AMMO enjoys a strong balance sheet that will allow us to pursue market opportunities as we prepare to turn the page on 2020 and move into 2021 better positioned to successfully compete for revenue across all product lines and sales channels. The NASDAQ listing increases our visibility in the investing community, enhancing our operational platform and ultimately benefitting our stockholders,” confirmed Mr. Wagenhals.
Forward Looking Statements
This document contains certain “forward-looking statements”. All statements other than statements of historical fact are “forward-looking statements” for purposes of federal and state securities laws, including, but not limited to, any projections of earnings, revenue or other financial items; any statements of the plans, strategies, goals and objectives of management for future operations; any statements concerning proposed new products and services or developments thereof; any statements regarding future economic conditions or performance; any statements or belief; and any statements of assumptions underlying any of the foregoing.
Forward looking statements may include the words “may,” “could,” “estimate,” “intend,” “continue,” “believe,” “expect” or “anticipate” or other similar words, or the negative thereof. These forward-looking statements present our estimates and assumptions only as of the date of this report. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the dates on which they are made. We do not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the dates they are made. You should, however, consult further disclosures and risk factors we include in Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Reports filed on Form 8-K.
Investor Contact:
Rob Wiley, CFO
AMMO, Inc.
Phone: (480) 947-0001
IR@ammo-inc.com