| Line Item | 2026-03-31 | Y/Y |
|---|---|---|
| Revenue | $51.1M | +3.5% |
| Cost of Revenue | $6.5M | +0.9% |
| Gross Profit | $44.6M | +3.9% |
| SG&A Expense | $22.7M | -67.9% |
| Operating Income | -$6.3M | +89.5% |
| Interest Expense | $1.8M | +2053.6% |
| Pre-tax Income | -$4.9M | +91.7% |
| Income Tax | $50K | -99.2% |
| Net Income | -$3.5M |
| Line Item | 2026-03-31 | Y/Y |
|---|---|---|
| Cash & Equivalents | $68.1M | +125.3% |
| Accounts Receivable | $10.4M | +1.7% |
| Current Assets | $82.0M | +13.6% |
| Total Assets | $267.5M | -10.0% |
| Current Liabilities | $20.7M | -66.6% |
| Total Liabilities | $32.5M | -56.8% |
| Stockholders' Equity | $235.0M | +5.8% |
| Line Item | 2026-03-31 | Y/Y |
|---|---|---|
| Capital Expenditures | $2.9M | -15.2% |
Business Overview
Outdoor Holding Company operates the GunBroker online marketplace following its sale of the Ammunition segment to Olin Winchester for $75.0 million (closed April 18, 2025). The company serves approximately 8.8 million registered users through a leading e-commerce platform for firearms, hunting, and shooting sports products, supported by over 32,000 federally-licensed firearms dealers. During fiscal 2026, the company implemented significant platform enhancements including Master FFL integration, AI-powered listing tools, and expanded payment/shipping capabilities to strengthen user experience and compliance infrastructure.
Segment Performance
Following the sale of the Ammunition segment on April 18, 2025, the company now operates only the Marketplace segment. The Ammunition segment met held-for-sale and discontinued operations criteria as of March 31, 2025, and generated net proceeds of approximately $42.9 million after adjustments. The Marketplace segment continues operations with 8.8 million registered users and 4.43 million average daily listings as of March 31, 2026, representing the company's sole continuing operating segment.
Forward Guidance
The company states it is "focused on expanding market share, strengthening brand recognition, and increasing customer engagement by enhancing user experience and broadening our merchandise and service offerings" and notes platform enhancements "are intended to" improve transaction flexibility, support compliance, streamline workflows, and enhance scalability. The company also indicates it "evaluate[s] targeted investments and apply[s] disciplined capital allocation to support long-term growth" but does not provide specific quantitative guidance or targets.
Key Risk Factors
Key risks include evolving federal and state firearms regulations that could restrict product sales or marketplace operations; intense competition from peer-to-peer marketplaces, dealer e-commerce platforms, and direct-to-consumer manufacturer channels; reliance on relationships with third-party service providers, FFLs, and payment processors; potential security breaches and data privacy compliance obligations under laws like the CCPA and PCI DSS; and the impact of adverse economic conditions and changes in consumer demand on marketplace activity and transaction volumes.
| +97.3% |
| EPS (Basic) | -$0.05 | +95.6% |
| EPS (Diluted) | -$0.05 | +95.6% |