Outdoor Holding Co POWW
Outdoor Holding Company ("Outdoor Holding," "we," "us," "our" or the "Company") began its operations in 2017 as a producer of high-performance ammunition and premium components. Following the acquisition of the GunBroker business ("GunBroker") in 2021, we conducted operations through two operating and reportable segments: Ammunition segment and Marketplace segment. The Ammunition segment engaged in the design, production and marketing of ammunition, ammunition components and related products. The Marketplace segment consists of the GunBroker e-commerce marketplace ("Marketplace"), which, in its role as a marketplace platform, supports the lawful sale of firearms, ammunition, and hunting/shooting accessories. In addition, GunBroker helps provide the outdoors community with a state and federal compliant solution that connects buyers with sellers across the United States with local federally-licensed firearm dealers. The Marketplace allows our base of approximately 8.8 million users to follow ownership policies and regulations through our network of over 32,000 federally licensed firearms dealers as transfer agents. The nature and operation of the Marketplace as an online auction and sales platform also affords our Company a view into the total domestic market for the purpose of understanding sales trends at a granular level across all elements of the outdoor and sports shooting space.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $51.1M | $49.4M | $53.9M | $63.1M | $240.3M | $62.5M | $14.8M | $4.6M | $1.3M | — |
| Cost of revenue | $6.5M | $6.5M | $7.7M | $9.1M | $151.6M | $51.1M | $18.5M | $4.8M | $1.3M | — |
| Gross profit | $44.6M | $42.9M | $46.3M | $54.0M | $88.7M | $11.4M | -$3.7M | -$229.7K | -$8.7K | — |
| SG&A | $22.7M | $70.6M | $23.4M | $19.0M | $46.5M | $15.1M | $3.7M | $3.4M | $2.2M | — |
| Total operating expenses | $50.9M | $102.6M | $52.7M | $51.7M | $60.2M | $16.8M | $10.2M | $8.8M | $4.0M | $11.0K |
| Operating income | -$6.3M | -$59.7M | -$6.4M | $2.4M | $28.5M | -$5.4M | -$13.8M | -$9.0M | -$4.0M | -$11.0K |
| Interest expense | $1.8M | $82.2K | $319.0K | $77.8K | $637.8K | $3.0M | $719.2K | $610.6K | $532.8K | $14.1K |
| Pre-tax income | -$4.9M | -$58.9M | -$6.3M | $2.3M | $27.9M | -$7.8M | — | — | -$5.8M | -$333.5K |
| Income tax | $49.5K | $6.3M | $948.3K | $1.3M | $2.0M | — | — | — | $0 | $0 |
| Net income | -$3.5M | -$130.8M | -$16.6M | -$8.8M | $25.9M | -$7.8M | -$14.6M | -$11.7M | -$5.8M | -$333.5K |
| EPS, basic | -0.05 | -1.14 | -0.17 | -0.11 | 0.21 | -0.14 | — | — | — | — |
| EPS, diluted | -0.05 | -1.14 | -0.17 | -0.11 | 0.20 | -0.14 | -0.32 | -0.35 | -0.30 | -0.58 |
| Shares, diluted (wtd. avg.) | $117.1M | $117.6M | $118.2M | $117.2M | $114.8M | $55.0M | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $68.1M | $30.2M | $55.6M | $39.6M | $23.3M | $118.3M | $884.3K | $2.2M | — | — |
| Receivables | $10.4M | $10.2M | $10.8M | $29.3M | $44.0M | $9.0M | $3.0M | $1.2M | $166.7K | $0 |
| Inventory | — | — | $55.9M | $54.3M | $59.0M | $15.9M | $4.4M | $4.8M | $1.8M | $219.1K |
| Total current assets | $82.0M | $72.1M | $131.5M | $128.5M | $129.7M | $145.6M | $9.2M | $8.6M | $3.0M | $2.9M |
| Property, plant and equipment | $6.9M | $6.5M | $4.5M | $56.0M | $37.6M | $21.6M | $18.0M | $22.0M | $769.4K | $0 |
| Goodwill | $90.9M | $90.9M | $90.9M | $90.9M | $90.9M | $90.9M | — | — | — | — |
| Other intangibles | $86.9M | $98.9M | $111.0M | $128.8M | $141.8M | $8.3M | $3.6M | $5.9M | $204.2K | $125.0K |
| Total assets | $267.5M | $297.3M | $403.0M | $413.2M | $415.8M | $179.4M | $41.1M | $43.6M | $4.9M | $3.0M |
| Accounts payable | $15.7M | $18.1M | $15.6M | $18.1M | $26.8M | $4.4M | $5.2M | $1.9M | $476.9K | $58.0K |
| Total current liabilities | $20.7M | $62.1M | $31.0M | $25.5M | $35.9M | $12.1M | $12.2M | $4.5M | $2.4M | $2.5M |
| Long-term debt | — | — | $20.0M | — | — | — | — | — | — | — |
| Total liabilities | $32.5M | $75.3M | $45.0M | $39.1M | $40.0M | $19.0M | $21.8M | $14.1M | $2.4M | $625.6K |
| Retained earnings | -$210.5M | -$203.9M | -$69.9M | -$50.2M | -$38.3M | -$61.5M | -$34.0M | -$19.5M | -$5.9M | -$155.0K |
| Total equity | $235.0M | $222.0M | $358.0M | $374.1M | $375.9M | $160.7M | $19.3M | $29.5M | $9.6M | $492.4K |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $963.8K | -$5.1M | $17.5M | $30.3M | $1.8M | -$14.4M | -$5.4M | -$7.3M | -$3.3M | -$19.8K |
| Depreciation and amortisation | $14.4M | $13.6M | $13.0M | $12.7M | $13.7M | $1.7M | $1.6M | $96.3K | $7.3K | — |
| Stock-based compensation | $1.5M | $4.5M | $430.5K | — | — | — | — | — | — | — |
| Capital expenditure | $2.9M | $3.4M | $2.7M | $1.8M | $19.2M | $7.4M | $462.4K | $2.3M | $304.2K | — |
| Investing cash flow | $40.6M | -$3.4M | -$2.7M | -$1.8M | -$69.7M | -$7.4M | -$462.4K | -$9.5M | -$404.2K | — |
| Financing cash flow | -$4.3M | -$9.5M | -$8.2M | -$5.5M | -$27.1M | $139.3M | $4.5M | $14.6M | $4.5M | $19.8K |
| Buybacks | $314.1K | $663.5K | $2.2M | $522.4K | — | $1.5M | — | $124.0K | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-276653.
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