Unprecedented Demand Results in Booked Orders in Excess of $135 million

Rhea-AI Summary

AMMO, Inc. (NASDAQ: POWW) reported a record sales increase of $55 million for fiscal year 2021, marking a 272% year-over-year growth. The company achieved a backlog of $135 million in orders, the largest in its history. In Q2 2021, total revenue surged 307% to $12 million, with ammunition revenue up 564%. Guidance for Q3 forecasts $15 million in revenue, a 435% increase. Additionally, AMMO completed an $18 million public offering, enhancing its capital position as it aims for growth in the competitive ammunition market.

Positive

• Record revenue of $55 million for FY 2021, up 272% year-over-year.
• Q2 2021 revenue increased 307% to $12 million.
• Ammunition revenue for Q2 up 564% to $8.7 million.
• Backlog of $135 million in booked orders as of December 1, 2020.
• Successful $18 million public offering enhances financial position.

Negative

• None.

- AMMO Estimates Record Sales of $55 million or 272% Increase Year-Over-Year
- AMMO listed on NASDAQ

SCOTTSDALE, Ariz., Dec. 08, 2020 (GLOBE NEWSWIRE) -- 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 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 AMMO's projected revenue for FY 2021?

AMMO estimates a total revenue of $55 million for FY 2021.

How much did AMMO's revenue increase in Q2 2021?

AMMO's revenue increased by 307% to $12 million in Q2 2021 compared to the previous year.

What is the current backlog of orders for AMMO?

AMMO has a record backlog of $135 million in booked orders as of December 1, 2020.

What significant financial event did AMMO recently complete?

AMMO successfully closed an $18 million public offering at $2.10 per share.

What is the significance of AMMO's uplisting to NASDAQ?

The uplisting to NASDAQ enhances AMMO's visibility in the investing community and supports their operational platform.