- Fiscal Year 2022 Adjusted EBITDA Expected to be in excess of $20 Million -
SCOTTSDALE, Ariz., March 02, 2021 (GLOBE NEWSWIRE) -- AMMO, Inc. (Nasdaq: POWW ) (“AMMO” or the “Company”), a premier American ammunition and munition components manufacturer and technology leader, anticipates reporting annual revenue of $120 million for its fiscal year ending March 31, 2022. The Company expects Adjusted EBITDA to surpass $20 million in Fiscal Year 2022 alongside the revenue growth.
“Heading into our next fiscal year, we anticipate another year of triple digit growth in both revenue and Adjusted EBITDA,” said Fred Wagenhals, AMMO’s CEO. Mr. Wagenhals continued and noted that “we continue to reap the benefits associated with the scaling of our operations. Planned additions to a host of our manufacturing lines continue to come online, enabling the dedicated AMMO team to accelerate efforts to address the dynamic backlog, driving additional growth in production numbers and all associated financial metrics.”
About AMMO, Inc.
With its corporate offices headquartered in Scottsdale, Arizona. AMMO designs and manufactures products for a variety of aptitudes, including law enforcement, military, sport shooting and self-defense. The Company was founded in 2016 with a vision to change, innovate and invigorate the complacent munitions industry. AMMO promotes branded munitions as well as its patented STREAK™ Visual Ammunition, /stelTH/™ subsonic munitions, and armor piercing rounds for military use. For more information, please visit: www.ammo-inc.com.
Forward Looking Statements
This press release 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 of 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 the statements. Accordingly, investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the dates on which they are made. Such forward-looking statements are based on our current beliefs and expectations, which we believe are reasonable. However, forward-looking statements are subject to significant known and unknown risks and uncertainties that may cause actual results, performance or achievements in future periods to differ materially from those assumed, projected or contemplated in the forward-looking statements 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 our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports filed on Form 8-K.
Investor Contact:
Rob Wiley, CFO
AMMO, Inc.
Phone: (480) 947-0001
IR@ammo-inc.com