POWW - Earnings call transcript Q4 2022

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Operator

Greetings, and welcome to today’s AMMO Inc. Fiscal Fourth Quarter 2022 Earnings Call. At this time all, participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instruction] As a reminder, this conference is being recorded. pleasure your my of Reed now ICR. is to host, introduce Anderson It you, Thank Reed.

begin. may You

Reed Anderson

fiscal Good you. call the full results conference welcome to for year and quarter Thank fourth and discuss afternoon to XXXX. AMMO Inc.'s

at On out the with are Rob X:XX Rob Wagenhals, to approximately Fred should Wiley, Officer; earnings AMMO this Chief and which Executive By President; the prepared have Time. now Chief everyone remarks Eastern Chairman Goodmanson, today call from afternoon Inc. and went Financial release, p.m. Officer. access

If you and available www.ammoinc.com. portion Inc.'s have be as not release, webcast it the at replay a received of on is the on This website being website available Relations the is will call Investor company's AMMO well.

like remarks statements placed not our would future not may everyone we performance to in management and do therefore, begin, contain should These statements additional questions. undue to prepared be forward-looking make statements guarantee upon and live your assumes them. obligation made response forward-looking we that that of the only information sensitive XXXX. remind note when to measures and update particularly and that statements release AMMO and we forward-looking an the of these transparency These Before operations, in be Inc. reconciliation Management results can Inc.'s reliance contains with identified and accurate filed Please involve XX-K those no to the underlying believes today's release. uncertainties, today's also during analysis financial results of XX, including are period. This basis. inherent in company's may today's management more forms expectations will from on date call. adjusted factors Inc.'s most discuss risks section XX-Q. period AMMO recently this based call, of non-GAAP of June complete call greater or included measures, that including as risk of any facilitate the on in these operating projections broadcast non-GAAP financial a We’ve measures ongoing results time AMMO comparing is current

the turn Chairman will Executive Wagenhals, I over Inc. AMMO Officer call Fred to Chief Now and of

Fred Wagenhals

and even reached with on the a exceeding EBITDA incredible in expectations. to Reed, call. Revenue, our far banner the also million leverage platform you, the and XXXX. Fiscal supply space, million marketplace Manitowoc COVID we was integrations ground XX working for year. the be highest model. did acquisitions transactional for XXX% adjusted with in beginning this year good platform billion were up several $X.XX initiatives AMMO, in profitability And which And Thank all in generated only XXXX that's fiscal commander the on the XXX.X on from we of to and transformational adjusted EPS company's billion an nearly We further GunBroker.com everyone move chain the from patient business past X.X year. B issues. and the volume are of introduce The has to proven to to for afternoon,

more in X two light that we than in share In remains expect fiscal AMMO of XXXX. would to like this XXX spectacular to positioned to why double XXXX the focus its Over growth, we five have we be remain well grown past in years the what million over on I past confident three market years. to to from the in million revenues AMMO revenue

increase significant This where improve class down million past loaded fully gives build square this revenue, increase and rounds our at facility, to opportunity delivering XXX ammunition year, drive capacity us to to margins. of world our expect are manufacturing facilities, rounds that foot our once new billion to has costs caused we capacity we in XXX,XXX First, current operational. us X

initiatives of a gift we card are GunBroker.com the products, credit our platform significantly and credit percentage was transactional processing, for and volume and integrated greater fully programs that seller. including Next, a in card from number rolling platform, capture XXXX, loyalty to marketplace both out the buyer of now the

in to so. support the all we in make into still we revenue, our performance continue opportunities have division, Finally, grow procurement enhance we And of financial are military primarily great as and operate curve. and special AMMO margins for And through development growth our to the provide performances Judging of operational value. with the year, that, early move forces, fiscal to opportunities path With There more the started however, over like our the the on call moment. shareholder look measures, on our to target at to in integrating drive U.S. to program. past progress our continue AMMO BMMPR Goodmanson progress and we industry. I'd our entered stage Rob with of detail those to technology of capitalize have substantially to this our by ammunition We over President, are turn forward believe shareholders in appropriate signature on the to programs multiple last our if the on to continuing we XXXX program continues updating succeeded intend goal and quarter. to the doing remains to by our into

Rob Goodmanson

We our enormous our indeed full team, interesting of team you stellar earnings Thanks, so been on call. for execute and and effectively, to never all been annual has for management put opportunities being an upon business thank challenges. Fred able would exciting opportunities but these entire have our Fred. together. year This And

announce to our and talk Wisconsin two moments $XXX approximately and around fiscal in EBITDA from future expand at sales now looking at just is open is This into for fiscal revenues, to about we're in new corner building initiatives manufacturing record, weeks. facility over the Obviously, few get to our our better anxious take is the buildings. from facility, million GunBroker.com. production. just incredible in the in larger expand upon predicting XXX% X team fall slated is main successes operating our and for Fred’s million the certain Manitowoc million $XXX automation company in in historic loaded million owned, AMMO best In speaks to and by $XXX EBITDA I’d track equipment, current the than itself. shoulders. at in successful adjusted like of which on Being output to new have of I back $XXX to to we million $XX double Our growing their our years plants, successes million our for the through $X $XX million like newly to new manufacturing production currently over our past in and and leverage capacity time done consolidated plan their to ammunition $XXX million comments deployment squarely XXXX. XXXX. now would forecast to

adding time. for We Currently million our X.X one are cart also at GunBroker.com. a only registered users capabilities could item purchase

will time, some purchase years, at for conjunction outdoor one accessories to additional enhancements its with has ammunition. of been website they the ability our the we're around multiple GunBroker.com Soon including auction largest making in XX have kind, which site.

vast is a and you more GunBroker the where products will website storefront, sellers or be million product and in We to new Obviously, buyer users are growth seller, we be we're No is Whether concept that what timely and registered trend being space sellers with to way is which turn XXX to making space, dealers, and an on revenues adding our the believe EBITDA, new that And would other volume. to that In it and in we This months. and store, at take the XX both the too. reiterate has a in manufacturer users advantage be look should closing, that, to past in our be at will of pleased the XXX their two function in buyers. experience. you're also to Whether of next drive shows in both support We're strongly to distributors, businesses. XXX fiscal this that the our prediction such ammunition. Amazon, what a initiatives which of will be XXX manner our our allowed this or it's greatest information of this this rounds online approximately Rob to destination transaction accountable, million north assets, basis user million one with preferred finally monthly monetize add goal With we as mirror of our one over initiatives of enhance million only that our in reliable company manufacturers, GunBroker.com’s that's adding we to XX they paid significant double and some forecast X can We story because will lines users selling, to add adding million these us Wiley, donating XXXX. adjusted solid selling whether price believe is me competitors many our over lead. Rob? model. will million with a distribution and companies of or I'd CFO. distributor, data. currently Ukraine new XX,XXX the platform average followed their and by million [effort] to million success, war a year, levels, the for attention for that in a our the Again, that these growth XX as of unique to opportunities of revenues to let XX hasn't EBITDA like because is X.X

Rob Wiley

Rob. Welcome everyone. you, Thank

sales me with our prior of in proprietary million result our sales more increase Let million of XXX.X generated fiscal demand from Gunbroker.com. over of of and an in now million XXX% our million capacity, sales rifle year in ammunition, X.X resulting results strong was or in our XX.X increase from our an XXXX increased detail. million increase Total revenue coupled from bulk year. casing ammunition, This and our of XXX.X for marketplace customers revenues of additional and pistol operations, financial review X.X production net increased the the

greatly we Looking the ammunition. outpaced rate growth to of sales ammunition of standard sales our expect forward, the proprietary

year inclusion margins period the by prior. manufactured nature are from a the and by will We gross XX.X% which as profit improvement increased year as sales, of increase we products. their marketplace the evidenced our believe over new to that time markets grow to that year. also last result distribution Our significantly this gross our This was continue percentage Gunbroker.com, compared margins to during higher has the XX.X% of expanded

proprietary strategic next the improve Introduction in goal government our then of of the like costs sectors. to margins. and higher specifically expansion in equipment Expanded now historically military continue through operation leverage streamlined of our months our product of reduces automation relationships ammunition ammunition and of following. ammunition through to lines programs. is component and accomplished of production developed have margins and stealth, providers. to carry the with Increased finished our total we sales through XX segment of products costs ammunition consumer Ammunition XX the visual fixed This assemble expanded to will our objectives. that gross support labor government sales be that the support of use in street component Reduce the lines of the to better and Our new required

for were XX.X including operating million amortization related percentage in expenses in of to sales expenses but the out by on increase year. reporting operating XX.X%, the dollar million approximately expenses decrease in year, prior year Moving million Gunbroker.com, for to XX.X decreased The expenses, of expenses was million related increased year. X.X XX.X non-cash and more non-cash from period. approximately XX.X XX.X% Total primarily over depreciation the XXXX million prior additional compared a operating to to importantly, million fiscal a our to operating the XX% of the approximately XX.X as

in decrease sales We fiscal as a to percentage expect expenses of to year. the see operating continued XXXX

our As earlier. our the and the income million in loss sales workforce XX.X an we operating compared X.X year of to Operating was leverage million expand for opportunities. year

net of operating to a increase. revenues compared percent XXX% was a income a year XX.X%, negative a As X.X% earlier,

our prior fiscal income net diluted share, approximately compared from the a fiscal a Adjusted increases $X.XX net for due adjusted compared GAAP for To to the adjusted in you result prior of of diluted in Adjusted income loss was and acquisition adjusted approximately ammunition was share to or year. and year additional our non-GAAP this significant reconciliation XX.X past improve growth of the had $X.XX year was our of million measure X.X then income performance marketplace results non-GAAP in net the adjusted revenues As margin with we share The release segment. for of period. in per Please a to production, our today's segment as XXXX. to our of EBITDA EBITDA sales note million in is period. net increased XXXX core both margins. Reflecting that press should our million share in a million Gunbroker.com, Reiterate EBITDA per diluted EBITDA well X.X details. as per of $X.XX, XX.X of per improvement refer versus in higher increase addition $X.XX gross

million $X.X year Our from net prior million $XX revenues of from of $XX.X reported to We $XXX went million loss period. a net the income in million.

Our strong sheet remained $XX no cash and balance and of with debt. million essentially outstanding equivalents

million. million are This just we XXXX EBITDA million revenues are adjusted well-positioned of $XX a EBITDA new and $XXX to year of to make guiding concludes our $XXX a We fiscal million, transition in million into our remarks. prepared few $XX and swift of weeks, $XXX to our to facility million to $XXX

our to I'll so take you. ready moderator. questions, to Thank now are pass back it We

Operator

[Operator Instructions].

Matt ROTH Our question is first from Capital. Koranda with

Matt Koranda

questions. for Thanks the afternoon. taking Good

Just you 'XX fiscal year. guide of split growth on on if comment of of and two sort GunBroker.com between rates ammunition for could Maybe the the between the the off the start core business expectations the with just sort revenue. the wanted versus

Fred Wagenhals

the for question. Thanks Matt. Hi,

our growth from So the but our I would our ammunition our come of majority come of do obviously from expect loaded loaded increase in new a the ammunition increased operations. well, rate We will coming from as growth capacity majority expect facility. to and segment GunBroker.com the

Matt Koranda

you the be have And shared share visibility on if any then on I into think backlog talk AMMO the could in about year just have you could could business confidence figures, backlog maybe guys past? segment, so some the folks do to lot there the you opportunity that just of industry it and have figures, the you you is sort maybe share the of fill about take opportunities. a an slowing channel demand you'll but like of seems guys numbers bit, sort year. it do maybe, know this I a some have in some talked a

to speak where you just the AMMO see year. in could you from majority growth the maybe So, the of sort this of coming business

Rob Goodmanson

see of I as well, our And that at current from would think We XXX% side. ammunition Goodmanson. sold, out We Rob a the Rob that of doesn't be around is the see, is you'd know this I said, XXX a capacity. of looking Matt, growth that coming Wiley our side. backlog number -- probably

Matt Koranda

Okay.

bit maybe ramping. me? capacity. guess clarify, quantify for I a So influx just little within current to the So the you sold just bit XXX% a is capacity current Could you a have that more because facility Manitowoc

a And delivers just you know, at mean number moment? may a that bit. does does lower $XXX we little assume, the so capacity change bit bit of, in to than mean that given a sort But have the I million less that, that or than we're that little backlog the

Fred Wagenhals

the and basis. scale work number is machines backlog. that everything the answered hope on that sliding on too bit much be rapid you question. a own light. would the In that capacity increases all would for a a case, be We of bit smooth little that a and backlog the anticipate No, But pretty There your move. little and

Matt Koranda

from Okay. you that factored revenue that is the then into XXX opportunities with of the on you And for highlighted, guys stuff SOT, lot you curious, you especially have military if deeper factored in segment space, any any guide, of a icing funnel mentioned million year? that the the is sort in that the guys that or Rob, will but of I'm the Ammo in there cake, the have of that obviously in sort

Rob Goodmanson

very we're -- rapidly the moving you'd That signature ballistic in cake. the through system. see on not on the target, the factoring in late would on inning, the match on We're be icing that

Matt Koranda

I'm then and quarter this quarter. and separately bit if guys the the where some segment. Got first to And it. end curious toward speak of a Ammo Okay. maybe QX reporting unique since situation GunBroker a last the is maybe over I'm you could of just you between are curious maybe trends the your of

headlines directionally but ramp the with just for correct Ammo on seen and of steady, segment. relatively business, the up going some then can assume Ammo recent it wrong and And we that month the year, quarter? of just the I'd the how of been maybe GunBroker. the it maybe unfold the ramp then you've sort the the if so And trends year? side of transpires, I'm of transpired in how any model rest me got of the there, GunBroker's has curious to you've Just that sort in for the news kind about expect how first the in you in

Rob Wiley

This question, is the for Matt. Wiley. Rob Thanks

expect kind We ramp that business the and of we you we're itself. this of the quarter big question And the we're installing really move production. going see first running just to strong in and until fourth think but to We're to facility, into expect a up we've spoke equipment into of completed everything I currently the purchased, and the that. revenues now. this have and year, in up once see in hooking continuing another the we've not fiscal the that strong third see quarter new benefits and and putting already quarter

until maintain we're So point. still of expect to up until levels but current production that

Matt Koranda

Okay.

on XX looks the Ammo So in fourth the million finer I that, did just like put to quarter, a about guess in business the point revenue. you

would bit the quarter maybe safer half more pulling the first side of And business. Ammo a fourth that and a the of assuming be of third of rate the bet. kicker So then the in from revenue fiscal run terms forward ‘XX there's in in

Rob Wiley

Yes.

that's I think about to the right it. way think

Matt Koranda

what the understood said I to capacity I of you it. of Got Okay. up and terms sure ramp And just, then --. wanted make in

I rounds. that a the in going billion my assumption talked guys was near about to facility term. was add the you X.X So in billion in release, And more like I probably guess rounds the think incremental

fiscal the are ‘XX we I speak this folks out understand just just and so so Maybe there? get to how maybe folks help help of we this you capacity get much for of then year to model sort year the kind for or over of how adding So we can billion can if can do soon how time, two? next so kind

Rob Wiley

Yes.

to And billion way essentially fiscal is and the the new the it one by of capacity of a rounds to fully goal our at think is year think in installed run our rate double. a of of once facility end day I that you're year. would get this

that little a -- if So helps, add we'll it. more bit to color

Matt Koranda

Okay.

of a So billion. a that billion incremental Is to total not fair say?

Rob Wiley

that's Yes, correct.

Matt Koranda

full factored of has should back And me, and margin the sort gave? level all for adjusted The lower Is tale where two halves facility July. in ramps and set Manitowoc of in starting for we of guide bit we help the sorry then full should the the ramp, to is over there's than margins? long How just last for the ammunition gross at that EBITDA but to half year? turn sort setting what, first in it windows production here, how up margins as lots I'll a a kind through. quite we backfill? you on more of, Maybe year half the understand folks of on level Or that miss to the one it get just look

Fred Wagenhals

you absolutely right. think had I No, an

online, additional year. and the first capacity of quarters fiscal comes to expect this expected most in So but quarter of we're benefit that quarter, for soon third of the benefit the as maintain as fourth we second the and

Matt Koranda

Okay. Got it.

Fred Wagenhals

[indiscernible]. new The

Matt Koranda

Put in place?

Fred Wagenhals

vertical I coming integration But all activities absolutely. the Yes, we online. mean, have

production addition capacity the to In increases.

about what that. new excited see of coming to do into and we very can we're So moving facility out

Operator

with next is Capital from Street Markets. Lake Our Mark Smith question

Mark Smith

the we in will about ammunition? cadence from then kind as then year. equipment to and and see this specifically September slowdown to ramp, second dig likely highest in some wanted be think quick the into of September you of as I thinking the the the in quarter, on of just of and sales next next quarter fiscal that the existing would just half transition and new that safe business year lowest facility It's real sales, June that more being loaded in about quarter facility assume

Fred Wagenhals

feel our will be second I that good as said. quarter just confident first that we as quarter our

Mark Smith

quarters just Certainly And want pressures dig the Can costs, a especially of you profit margin about about here bit. year. pressure a we about gross even this material we've you're projectiles, then I there? bit anywhere you're than as components, talk to that seen where little into lower primers, seeing in seeing, cost talking other raw think

Fred Wagenhals

similar think, No, cost past. the been what has relatively I it the profiles to profile in

next opened last call, we our manufacturing a on the up. make had in really the we're weeks think here can that new mentioned when up I transition the sub we so doors gearing that of facility, for finally couple

expect profile to And integration so today. adding profile put the production activities the online it margin seeing be we and we to that the capabilities the new the something definitely second given of we the see we're very benefit that's to a really see our But vertical capacity that point, until their end quarter, coming up this we're for. expect into that coming to to so to and that to excited everything improve able currently really all a margin of

Mark Smith

QX put that particular margin? out in in call pressure on more Anything to

Fred Wagenhals

than labor say would more I anything.

Mark Smith

Okay.

Fred Wagenhals

just a And trained, increased quality lot more getting move labor building hiring work to thought new The people substantially train our it we for into our people. than took people.

Mark Smith

confidence demand me that kind of this be gives Okay, today. that gave you GunBroker.com broad top-line as base, confidence next gives the And side. seeing perfect. AMMO number? that this confidence you in a sounds top-line well your are to for able year? given being then, we inflationary we in full gives walk of given, like then numbers kind What what in is and And through just guidance the for pressures you the as as think you that And that gave bottom-line, it hit year you might you about backlog strong, guidance are seeing still just but but the is in what this

Fred Wagenhals

Sure.

as pressure Let so that have number that last is that. inflation crack and continue on through always is The every at the a of think we are two -- of the will reasons, space. me passed do still it of our really lot not in Why biggest in unrest. take in anyway, midst civil just company think gone that's for continue? a we I would A, we the of years,

market. have basically We commercial XX% is And kind of These capacity have are in really Russia, beneficial And going ammunition ones be now only double all telling of Government adding to are the the City, they the sanctions we the to this production. Lake are that, can U.S. which to our the space. more XX% we we sold U.S. cannot who of any the sell where into than

do back? still are is, The feel and our that winds at answer we good confident the short yes. So,

Operator

you. Thank

from Our Hutton. of next Edward is question Reilly EF

Edward Reilly

Hey, question. guys. taking for my Thanks

level, on pivot are comment We an industry retail unmet to you seeing at ammunition increased overall has stores. if ammunition. wondering of level ability a was a from maybe could I if in any are pricing towards types stock bit demand, there your still of ammunition and that

Fred Wagenhals

think in side. seeing we least prices, from of I time still are So highs manufacturers levels at all sales

next big team our they the always, team markets what going and of on are close have and are conscious a the sales on pulse and skew maybe. production what's We think

consumers we make that deliver that it's adjustments product currently to that to what daily manufacturing. we are need to looking our to the to want. see And are and now we can So, we're something attuned if make,

Edward Reilly

just Okay. And bit maybe Got platform? the the unpack the could are and you on initiatives it. for on side, the a increase us to you sellers undertaking little GunBroker.com buyers

Fred Wagenhals

can the where whether initiatives they soon, the a are time, different significantly be credit loyalty should On the ease that will is types one transactions. item had which services, buyers purchases. top the things suite some had and mentioned financial the purchase completed, programs. cart of Fred multiple products, sellers doing. cards, service of a they we increasing the at These of adding I can in my number There with when that, of like mentioned cart is do different talk, for

Gun. you So ears? the the Do margin business. the be significant the need hypothetically cleaner? And eyes? on margins a you you that'll accessories in the Do are Do of need highest top buy there need

to give making credibility. coming sellers the existing more to the market. the This and is what's and going users, new ease both So it -- base buyers and more end more drive people

not And Now, are technology done get these out, fair switch, they And right. amount not. that it's spending everything rolled And when but of as it on been a these lot light get behind money be unfortunately a enhancements there's a rolled goes out. we've will is these to things when of done this, we right. perfect, will

will for be seamless end the users. it So

Edward Reilly

Got it.

you sellers aware the Another initiatives? aren't question that on website making that, just on types of how are these of potential

Rob Goodmanson

the know things, manufacturers, working mean, They are say they say are dealers, with how usually manufacturer they're the the the the where the Well, where and distributors, get looking the are up some we -- same in you that at the is to are, which things things one hot of are our let's buyer I need these these? are because of good? weak? their noticed rate the Same about X.X%. out. roll they're are our take one what types and sellers new we rates, document interested for if initiatives aren't from take our to that in out X.X conservatively monetizing take make there being rate, to an these and going what what yet with to standpoint from are, we a Where storefronts types for getting prices, of and they're prices about the are before, X.X are signing not Where And them, to for ready those products and was needs are really what hands up on enhancements they sold? bring will could which of data they never they've let's

Edward Reilly

it. for forward? question thinking going we Thanks online, should about Got for that. Last be the nearly maybe facilities CapEx me given how

Rob Wiley

question. the for Thanks

with online the And and expenditures As the has in that. relation point expended this of far to all as been capital the new virtually expenditures today. coming facility that's capital production to most

capacity point. go costs looking all of from So and this this more unless add we the through to forward been point encouraged have significantly from this

we're facility. excited looking before, So from mentioned forward and benefit comes that, we are just as the to really into -- new to that the very I move that

Operator

you. Thank

Our Jost from question next is with Invesco. Rob

Rob Jost

ask cash to little a uses this general your year new you I to would Do cash story, flow of about or be but of generate maybe for bit forward, speak going to next flow. wanted able a you a with have that cash I'm flow. that just outlook set sense meaningful a

Rob Wiley

in sick towards continue increase to we at spending cash facility, we But up cash. be credit forward. positive Also, our Thank do is for aid Wiley. I flow flow, working capital We flow saw increase that some our do you This growth. of expect to GunBroker, we at our put and us of reported, that due relation as question. see XX-K we this we A acid have were significant to quite cash to we that moving cash to outflows from flow of so our had also cash significantly, to based tied our And and year credit just a least to income looking that our But in working grow, of cash the on the a Rob expect the in the you think lot operations. cash growth. up in free outflow facility is just will addition cash gunbroker.com. we're

Rob Jost

levels bit? seemed Is expect is unwind normal? of like the as would to went next Or characterized that up Is that any kind a at in is inventories there that year? your there, moment be it at you quite

Rob Wiley

growth in our our reason for our due inventory a is to the, I big the increase sales. just in think

sales our about to our the increase, note of inventory I on all process. to continue expect of materials either would just as grow. have hand, So a And or that virtually it in raw we inventory, work continued levels side is most inventory our

lot of goods holding finished So a we're not today. hand on

Rob Goodmanson

on have side increase inventory, we this until little little up issue, receiving the inventory It other The or weeks also issue as we and the a have shipping for one makes moving dock the And this is supply bit one had well. facility the that have into that easier. just is note currently chain. a it We shipping. in is over point two of

ask cannot off larger you get wouldn't the multiple had of a to stuff We weakness and docks question. have tie. that So facility, the doors, some had

Rob Wiley

to I this just our in that facility morning, from product out just amazed to impossible we've And building done the almost got is. new get so done last what I'm quarter door. that and this back is cramped it even as we've walk

Rob Jost

run kind new the rate shooting into when talked think you're which a margin about question, my at Have Well, that dovetails facility, you other at for? target being you about of do have is that? you that

Rob Wiley

maintaining margin On I had ammunition higher of of product, than our think goal the we've a always loaded XX%.

can So until make to we're going I to we do there, that think, up. all we get

Operator

question is Glass next Our from with Creek JD Partners. Abouchar

JD Abouchar

A question on side. had I the e-commerce

With the GunBroker. just size the of sheer

obviously terms tick in up? high last wanting that traditional looked the as Bass statistics to on to GunBroker.com. some platform firearm wanting take channel. going is their online the to time XX of Pro all to are advantage giving with really act through increased but was sales sheer ranked on just take brands and not rank. it's at rate, also But industry direct-to-consumer, I non-firearm of obviously, balancing The and opportunities online unique between volume twice shifting users capitalize think and so I of both off website like as the What million build

Fred Wagenhals

Amazon-like JD. that that's putting is But with cart, product, key are mentioned the we This is to the of the that distribution way. need products. sellers the the of to here by more get We Thanks all really And attract these financial really together is dealers. Rob, of more storefronts it people -- call. things mean, the we buyers the obviously had how and one out. their want in adding I adding do through and they to

a in these that and with All number sometimes X joining, just, different I the because our successful of you shy -- mean, be do the marketplaces million marketplace they buyers. they they and and users can very is sellers of plus are They different bricks-and-mortar. some new to happen out need that look are We at don't And this. have. you there things. unique the have and users can because And users

monetize can in a GunBroker.com we are information how currently place, huge the systems make growth is this truly to all and So putting interesting that engine. we

JD Abouchar

marketer what the appropriate some it or necessary? strategically a website of there more SEO, you on the premier follow-up in. so people is in time opportunities all strong, are marketing branding you website background people And not just is or sort -- drive are marketing at strength are question the a really to there right now, Fred's that. in by doing drawing that's seems much like not to the initiative, or spending drive of at

Fred Wagenhals

see some marketing You'll this year.

But our this have building working really time until up fire marketing are equipment. now building the opportunities. buying to focused we right up on now. it's plant, it And now, We on

Rob Wiley

better And Correct. all give you be to like will and think increasing year. experience, users this the marketing, ease going And I beginning Fred into with and the of to the availability the technology one. it's access said a tied see

Operator

you. Thank

from is question next Royal with Andy Our Capital. Johnson

Andy Johnson

afternoon, Good quarter, on left give one the be? somewhat you a can in range revenue narrow the guys. day With current what will

Fred Wagenhals

No.

Andy Johnson

to Okay. Can to, going shares. you make fall, whether last not? you Can you or you done were any purchasing funds you that you for said -- comments have authorized

Fred Wagenhals

We can make comment.

not. have We

time that deployed When be acquiring our because correctly, and better announced. something seeing of to results deployment. and it start you'll it I basis to the and open see it, we of full profitably this been taken a stock that capital. And is market, have it from will We has at the is cash which believe opportunities when look a on cash unique the deploy you're daily year we

Andy Johnson

Ukraine, you of a books? is when does, Ammo’s donate for How does million that it. on -- ammunition how rounds Got how accounted that to

Rob Wiley

This is It books. show Rob expense Wiley. in would Thank you -- our for that's expenses. operating up an the this question. Yes, on is

Andy Johnson

unaware or your that's my Ukraine? United it expect from you to but an that give to was I do And kicking assuming get away. hoops assumption already XX be to that extra that with also government made you competitors through that the paying is orders have to the jump billion way, contributions, that mentioned States have, just qualified, did had already And correct, and you've

Rob Wiley

reason That the donation. for wasn't the

Andy Johnson

I didn't donation. say it was

Rob Wiley

kick the we for it the was because months that administration at donation what needed would in $XX time. wasn't they reason The later, billion knew three the

Andy Johnson

to I you understand. from But now that billion, they expect have $XX in get Ukraine? orders do kicked

Rob Wiley

it It's is it an wasn't possible, possible. Yes, expectation. but

Andy Johnson

hasn't it happened And yet.

Rob Wiley

No, it hasn't.

Operator

the any Thank over back at management comments. would further I time. to are no floor for to turn questions closing like There this you.

Reed Anderson

I'd for like you to listening thank Well, today. all

If please have out you free feel any other to to questions, reach us.

If you'd we'll like happy for your again, time thank offline, your you to take -- to be talk call. And

Fred Wagenhals

Have support. good a your And day.

Operator

This conference. concludes today's

your You your at Thank time. lines may disconnect participation. for you this

AMMO (POWW) 30 Jun 222022 Q4 Earnings call transcript