AMMO, Inc. Issues Updated Guidance for Fiscal Year 2022 to $190 Million, Reflecting the Addition of GunBroker.com
– Fiscal Year 2022 Adjusted EBITDA Expected to be in Excess of $65 Million
SCOTTSDALE, AZ, May 11, 2021 — AMMO, Inc. (Nasdaq: POWW) (“AMMO” or the “Company”), a premier American ammunition and munition components manufacturer and technology leader, is pleased to provide updated 2022 Fiscal Year revenue guidance for its fiscal year ending March 31, 2022 of $190 million following the successful closing of the GunBroker.com transaction. In addition to the forecasted 206% growth in revenue, the Company projects Adjusted EBITDA to surpass $65 million.
“With the closing of the GunBroker.com transaction, we believed it important to provide the market and our shareholders updated guidance and most importantly, confirm we anticipate achieving positive net income for the first time in fiscal year 2022,” said Fred Wagenhals, AMMO’s Chairman & CEO. Mr. Wagenhals further noted that “as our dedicated team continues to accelerate efforts to address the dynamic market demand for our ammunition and component products, we expect to enjoy the benefits of a fully integrated GunBroker.com operation, one that will include a host of other product offerings and platform leveraging enhancements, all of which will continue to drive increased value for our shareholders.”
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 and law enforcement use. For more information, please visit: www.ammo-inc.com.
GunBroker.com, a wholly owned subsidiary of AMMO, is the largest online marketplace dedicated to firearms, hunting, shooting and related products. Aside from merchandise bearing its logo, GunBroker.com currently sells none of the items listed on its website. Third-party sellers list items on the site and Federal and state laws govern the sale of firearms and other restricted items. Ownership policies and regulations are followed using licensed firearms dealers as transfer agents. Launched in 1999, GunBroker.com is an informative, secure and safe way to buy and sell firearms, ammunition, air guns, archery equipment, knives and swords, firearms accessories and hunting/shooting gear online.
GunBroker.com promotes responsible ownership of guns and firearms. For more information, please visit: www.gunbroker.com.
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.
Rob Wiley, CFO
Phone: (480) 947-0001