AMMO, Inc. Increases Guidance for Fiscal Year 2021 From $58 Million to $62 Million, Reflecting a Projected 319% Year-Over-Year Revenue Growth
SCOTTSDALE, AZ, April 1, 2021 — AMMO, Inc. (Nasdaq: POWW) (“AMMO” or the “Company”), a premier American ammunition and munition components manufacturer and technology leader, is pleased to be increasing its 2021 Fiscal Year revenue guidance to $62 million, representing year-over-year projected revenue growth of 319%.
Comparison for Fiscal Fourth Quarter 2021 vs. Fiscal Fourth Quarter 2020
- Revenue guidance for the quarter increases from $20 million to $24 million – a 400% increase in comparison to the $4.8 million for the Fiscal 2020 quarter.
Comparison for Fiscal Year End 2021 vs. Fiscal Year End 2020
- Revenue guidance for the fiscal year 2021 increases to $62 million – a 319% increase in comparison to the $14.8 million for fiscal year end 2020.
Guidance for Fiscal Year End 2022
- Revenue guidance for the fiscal year 2022 is $120 million as a standalone company – a 94% increase in comparison to the $62 million for fiscal year end 2021.
“We are pleased to provide updated revenue guidance for the Company’s fiscal year 2021. The fourth quarter was our strongest quarter ever, with $24 million in revenue guidance, representing an increase of 400% year-over-year. AMMO anticipates domestic commercial demand to remain robust through the upcoming year, with anticipated military, import and export orders serving as additional growth drivers. Given this significant demand, we are increasing our revenue guidance in fiscal 2021 to approximately $62 million, which represents a year-over-year revenue growth rate of 319%,” reported AMMO’s CEO, Fred Wagenhals. He went on to say that “our revenue guidance as a standalone company is $120 million for our fiscal year ended March 31, 2022. We will be updating guidance as the previously announced Gunbroker.com transaction comes into focus such that it has an impact on our first quarter results.”
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.
Rob Wiley, CFO
Phone: (480) 947-0001