Unprecedented Demand Results in Booked Orders in Excess of $135 million
December 08 2020 - 08:00AM
AMMO, Inc. (NASDAQ: POWW) (“AMMO” or the “Company”), a premier
American ammunition and munition components manufacturer and
technology leader, is providing a corporate update amidst
unprecedented demand in the U.S. domestic and International
commercial ammunition markets.
AMMO has a current record backlog of $135
million in booked orders as of December 1, 2020—the largest in
Company history. “Our record backlog has continued to grow, with
booked orders coming in across all channels,” said Fred Wagenhals,
AMMO’s CEO. “We continue to expand our footprint with retailers
across the country while continuing to build brand awareness and
loyalty with customers.”
Financial Summary for Fiscal Second
Quarter 2021 vs. Fiscal Second Quarter 2020
-
Total revenue increased 307% to $12 million compared to $2.9
million.
-
Ammunition revenue increased 564% to $8.7 million.
-
Casing revenue increased 100% to $3.3 million.
Guidance for Fiscal Third Quarter 2021
vs. Fiscal Third Quarter 2020
-
Total revenue estimate increased 435% to $15 million compared to
$2.8 million.
-
25% increase in revenue when compared to $12 million in the 2nd
quarter of fiscal 2021.
Guidance for Fiscal Year 2021 vs. Fiscal
Year 2020
-
Total revenue estimate increased to $55 million compared to $14.8
million.
-
Year-over-year revenue growth rate of 272%
“We expect positive adjusted EBITDA to
significantly increase over the next several quarters as we
continue to maintain our focus on driving sales of our higher
margin product offerings and enhancing manufacturing efficiencies
across our entire product portfolio,” said Fred Wagenhals, AMMO’s
CEO.
AMMO Announces Pricing of $18 Million
Upsized Public Offering of Common Stock and Concurrent Uplisting to
The Nasdaq Capital Market™
- As of December 1, 2020, AMMO’s
common stock is listed on The Nasdaq Capital Market® (“NASDAQ”)
under its pre-uplisting “POWW” ticker symbol.
- The Company successfully closed an
approximate $18 million offering at $2.10 per share on December 3,
2020.
“Our singular focus at AMMO is to upset the
stagnant ammunition industry in order to drive long-term
stockholder value. With the uplisting and strategic funding
successfully completed, we will continue to implement our plans to
strategically expand our operations as we continue to disrupt the
industry with cutting-edge and technologically improved product
offerings,” stated Mr. Wagenhals.
“Management is very excited for the future for
the Company’s shareholders and the entire AMMO team. We anticipate
significant growth in sales, increased margins and continuing
positive adjusted EBITDA performance. AMMO enjoys a strong balance
sheet that will allow us to pursue market opportunities as we
prepare to turn the page on 2020 and move into 2021 better
positioned to successfully compete for revenue across all product
lines and sales channels. The NASDAQ listing increases our
visibility in the investing community, enhancing our operational
platform and ultimately benefitting our stockholders,” confirmed
Mr. Wagenhals.
Forward Looking StatementsThis
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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