AMMO, Inc. Issues Updated Guidance for Fiscal Year 2022 to $190 Million, Reflecting the Addition of GunBroker.com
May 11 2021 - 8:30AM
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.
About GunBroker.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.
Investor Contact:Rob Wiley,
CFOAMMO, Inc.Phone: (480) 947-0001IR@ammo-inc.com
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