Short answer
Outdoor Holding Co (POWW) filed its fiscal 2026 10-K annual report with the SEC on Jun 22, 2026. It reported revenue of $51M (+3.5% year over year) and net income of −$4M.
- Top risk flagged: Regulatory risk from evolving firearm laws in Colorado, Washington, Florida, and Oregon imposing higher age limits, waiting periods, and magazine restrictions, impacting sales demand
FY2026 key financial metrics · XBRL
- Revenue
- $51M
- +3.5% YoY
- Net income
- −$4M
- +97.3% YoY
- Operating margin
- -12.3%
- +108.6 pp YoY
- Gross margin
- 87.2%
- +0.3 pp YoY
- EPS (diluted)
- −$0.05
- +95.6% YoY
- ROE
- -1.5%
- +57.4 pp YoY
- Operating cash flow
- $963,847
- +119.0% YoY
Source: XBRL data from the Outdoor Holding Co (POWW) FY2026 10-K on SEC EDGAR. USD.
Outdoor Holding Co FY2026 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business shifted from manufacturing ammunition to operating GunBroker, a leading firearms and outdoor sports e-commerce marketplace
- New platform enhancements in FY 2026: Master FFL integration, AI-powered listing tool, expanded payment/escrow/shipping support, and enhanced compliance/security
- Strategic divestiture: Sold Ammunition segment for $75M purchase price (net proceeds $42.9M), rebranded as Outdoor Holding Company post-sale
- Marketplace scale: 8.8 million users, 4.43 million daily listings, supported by 32,000+ licensed firearms dealers as of March 31, 2026
- Noteworthy risk: Heightened regulatory complexity and cybersecurity threats, including AI-enabled cyberattacks and evolving firearm compliance laws
Management Discussion & Analysis
- Revenue $51.1M in FY26, up 3.5% YoY from $49.4M in FY25, driven by higher firearms sales on the Marketplace
- Gross margin 87.2% in FY26 vs 86.9% in FY25; operating expenses down $51.8M due to lower settlements, legal fees, salaries
- Best segment: Marketplace (continuing ops, revenue growth, margin improvement); Ammunition sold for net proceeds ~$42.9M (discontinued ops)
- Cash $68.1M as of Mar 31, 2026, up $37.9M YoY; repurchased 513,925 shares for $1.0M; capex $2.9M for platform development; paid $3.0M in preferred dividends
- FY27 outlook priorities: launch universal payments, increase GMV with AI, capitalize on Master FFL integration, opportunistic share repurchases, cost reductions, user enhancements
Risk Factors
- Regulatory risk from evolving firearm laws in Colorado, Washington, Florida, and Oregon imposing higher age limits, waiting periods, and magazine restrictions, impacting sales demand
- Geopolitical cyber threat risk from nation-state actors and affiliates increasing sophisticated cyberattacks targeting our digital marketplace and infrastructure
- Operational risk due to dependence on third-party services for Master FFL dealer data and payment processing, impacting platform functionality and revenue
- Competitive risk from direct-to-consumer firearm manufacturers (e.g., Palmetto State Armory, Ammunition Depot) bypassing marketplaces, reducing GunBroker’s market share
- Financial risk from $32.5M total liabilities and potential dilution from share repurchase program and issuance of senior or pari-passu preferred stock affecting capital structure
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