AMMO Sets New Company Record in Orders Shipped While Recording an Increased $180 Million Backlog of Booked Orders for the Fiscal Third Quarter

Rhea-AI Summary

AMMO, Inc. (Nasdaq: POWW) reported a 256% year-over-year increase in orders shipped, reaching a record $180 million in backlog as of February 1, 2021. The Company is significantly enhancing its manufacturing and shipping capacity to meet escalating global demand for ammunition. CEO Fred Wagenhals highlighted new retail distribution partnerships and robust demand anticipated throughout 2021 into 2022. The Company's earnings call on February 16th will address revenue results and industry outlook.

Positive

• 256% year-over-year increase in orders shipped.
• Record backlog of $180 million as of February 1, 2021.
• Strategic enhancement of manufacturing and shipping capacity.
• New key retail distribution partnerships with BIG 5 and Midsouth Shooters Supply.
• Strong demand expected through 2021 and into 2022.

Negative

• None.

SCOTTSDALE, Ariz, Feb. 04, 2021 (GLOBE NEWSWIRE) -- AMMO, Inc. (Nasdaq: POWW ) (“AMMO” or the “Company”), a premier American ammunition and munition components manufacturer and technology leader, has reported a 256% year-over-year increase in orders shipped, as it works around the clock to fulfill booked orders which have now increased to a record setting $180 million as of February 1, 2021.

“We continue to strategically and effectively increase our order intake, manufacturing and shipping capacity in an effort to address the continuing escalating demand being received across all channels, as our record backlog continues to grow,” said Fred Wagenhals, AMMO’s Chairman and CEO. “We are now seeing global demand for loaded ammunition and components increase, and we continue to add new key retail distribution customers such as BIG 5 and Midsouth Shooters Supply and others. We see strong demand through all of 2021 and continue into 2022 for the US Commercial Market,” said Mr. Wagenhals.

AMMO will address its record-breaking revenue results and industry outlook during the Company’s February 16^th earnings call.

About AMMO, Inc.

With its corporate offices headquartered in Scottsdale, Arizona. AMMO, Inc. (the “Company and/or 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.

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, CFO
AMMO, Inc.
Phone: (480) 947-0001
IR@ammo-inc.com

FAQ

What is the recent order growth percentage for AMMO, Inc. (POWW)?

AMMO, Inc. reported a 256% year-over-year increase in orders shipped.

What is the backlog amount reported by AMMO, Inc. (POWW) as of February 1, 2021?

The backlog reported by AMMO, Inc. is $180 million as of February 1, 2021.

When will AMMO, Inc. (POWW) discuss its earnings results?

AMMO, Inc. will discuss its earnings results during an earnings call on February 16, 2021.

What are AMMO, Inc.'s (POWW) expectations for demand in 2021 and 2022?

AMMO, Inc. expects strong demand to continue through 2021 and into 2022.