Q4 2024 Ammo Inc Earnings Call Transcript
Key Points
- AMMO Inc (POWW) reported sequential sales growth despite a softening market.
- The company generated $32.6 million in cash from operations and increased cash balances by $16 million.
- GunBroker platform enhancements, including new customer acquisition campaigns and the launch of Collectors Elite, are expected to drive future growth.
- AMMO Inc (POWW) established a $20 million credit line with Sunflower Bank and reduced debt by $3.6 million.
- The company is focused on high-margin rifle production, which is expected to improve profitability.
- Total revenues for the fourth quarter decreased to $40.4 million from $43.7 million in the prior year quarter.
- Gross margin for the quarter decreased to 23.3% from 27.3% in the prior year period.
- The company experienced lower capacity yields at its new factory, impacting overhead absorption.
- There were $2.4 million in nonrecurring expenses related to legal and professional fees.
- The market for 9-millimeter ammunition remains tough due to discretionary spending by consumers.
Ladies and gentlemen, thank you for standing by. Good afternoon and welcome to the AMMO Inc. fourth quarter and fiscal year 2024 earnings call. (Operator Instructions)
Participants of this call are advised that the audio of this conference call is being broadcast live over the Internet and is also being recorded for playback purposes.
I would now like to turn the call over to Scott Arnold of CoreIR, the company's Investor Relations firm. Please go ahead, sir.
Good afternoon, and thank you for participating in today's conference call. Joining me from AMMO's leadership team on slide Fred Wagenhals, Executive Chairman; Jared Smith, Chief Executive Officer; and Rob Wiley, Chief Financial Officer.
During this call, management will be making forward-looking statements, including statements that address and those expectations for future performance or operational results. Forward-looking statements involve risks and other factors that may cause actual results to differ materially from those statements. For
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