AMMO, Inc. Updates First Quarter Fiscal Year 2022 Revenue Forecast to $41 Million, Projecting First Profitable Quarter (ending June 30, 2021)
SCOTTSDALE, AZ, May 20, 2021 — AMMO, Inc. (Nasdaq: POWW) (“AMMO” or the “Company”), a premier American ammunition and munition components manufacturer and technology leader, is updating quarterly revenue to $41 million for its 1st Quarter of the 2022 Fiscal Year ending June 30, 2021, generating its first profitable quarter in the Company’s short history.
“We are pleased to start off our 2022 Fiscal Year with continuing strong revenue growth and operational scale, generating our first profitable quarter in the life of our young Company,” said Fred Wagenhals, AMMO’s Chairman & CEO. Mr. Wagenhals further noted that, “we continue to build on our progress with our company-wide efforts to supply our customers with our premier products. The refinement and expansion of our ammunition product offerings, coupled with our team’s strategic capacity increase initiatives, continue to bolster AMMO’s ability to address historical market demand, driving revenue as we strive to increase shareholder value. By also enhancing and leveraging the best-in-class GunBroker.com platform with new product offerings and sales initiatives, we reasonable expect to obtain additional accretive revenue and profit growth while receiving the benefits associated with diversified sales channels.”
The Company will be reporting its Fiscal 2021 results on or before June 29th. The Company will provide an update on the scheduling of the associated conference call shortly.
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.
GunBroker.com 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
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Rob Wiley, CFO
Phone: (480) 947-0001