Despite achieving a high gross margin of 87.6% in 2026Q4, the company continues to struggle with profitability, reporting a net margin of -5.1% in the same period.
Outdoor Holding Company (POWW) annual income statement — 28-year revenue, gross profit & net income history
| Metric | TTM | Mar'26 | Mar'25 | Mar'24 | Mar'23 | Mar'22 | Mar'21 | Mar'20 | Mar'19 | Mar'18 | Dec'17 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 | Dec'95 | Dec'94 |
|---|
| Sales/Revenue | 53.75M | 51.13M | 49.4M | 53.94M | 63.15M | 240.27M | 62.48M | 14.78M | 4.57M | 1.77M | 1.16M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 17.44M | 20.21M | 27.54M | 19.73M | 12.9M | 11.38M | 5.52M |
| Revenue Growth % | 77.36% | 3.49% | -8.42% | -14.58% | -73.72% | 284.54% | 322.74% | 223.7% | 158.4% | 51.93% | - | - | - | - | - | - | - | - | - | - | - | -100% | -13.7% | -26.61% | 39.59% | 52.91% | 13.36% | 106.16% | - |
| Cost of Goods Sold | 10.87M | 20.92M | 6.47M | 7.66M | 9.12M | 151.55M | 51.1M | 18.46M | 4.79M | 1.47M | 1.17M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 16.89M | 17.52M | 23.99M | 16.93M | 11M | 9.98M | 4.83M |
| COGS % of Revenue | - | 40.92% | 13.09% | 14.2% | 14.44% | 63.08% | 81.78% | 124.87% | 105.02% | 83.42% | 100.69% | - | - | - | - | - | - | - | - | - | - | - | 96.86% | 86.71% | 87.13% | 85.8% | 85.27% | 87.7% | 87.5% |
| Gross Profit | 42.88M | 30.2M | 42.93M | 46.28M | 54.03M | 88.72M | 11.39M | -3.68M | -230K | 293.07K | -8.72K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 690.34K | 2.69M | 3.54M | 2.7M | 1.9M | 1.4M | 690K |
| Gross Margin % | 79.77% | 59.08% | 86.91% | 85.8% | 85.56% | 36.92% | 18.22% | -24.87% | -5.04% | 16.59% | -0.75% | - | - | - | - | - | - | - | - | - | - | - | 3.96% | 13.29% | 12.87% | 13.69% | 14.73% | 12.3% | 12.5% |
| Gross Profit Growth % | - | -29.65% | -7.23% | -14.35% | -39.09% | 679.12% | 409.8% | -1498.06% | -178.48% | 3459.01% | - | - | - | - | - | - | - | - | - | - | - | -100% | -74.29% | -24.22% | 31.22% | 42.11% | 35.71% | 102.9% | - |
| Operating Expenses | 39.34M | 31.02M | 102.65M | 52.72M | 51.67M | 60.19M | 16.77M | 10.16M | 8.75M | 2.1M | 3.97M | 3.37K | 4.96K | 6.77K | 16.34K | 12.61K | 21.24K | 17.45K | 27.04K | 43.66K | 25.64K | 708 | 4.06M | 2.44M | 2.1M | 809.07K | 1.9M | 540K | 600K |
| OpEx % of Revenue | - | 60.68% | 207.78% | 97.74% | 81.81% | 25.05% | 26.83% | 68.75% | 191.66% | 118.56% | 341.19% | - | - | - | - | - | - | - | - | - | - | - | 23.28% | 12.1% | 7.63% | 4.1% | 14.73% | 4.75% | 10.87% |
| Selling, General & Admin | 13.31M | 23.22M | 89.06M | 39.69M | 38.97M | 46.47M | 14.11M | 8.56M | 8.65M | 2.09M | 3.96M | 3.37K | 4.96K | 6.77K | 16.34K | 12.61K | 21.24K | 17.45K | 27.04K | 43.66K | 25.64K | 708 | 3.7M | 2.44M | 2.1M | 900K | 700K | 550K | 600K |
| SG&A % of Revenue | - | 45.43% | 180.27% | 73.58% | 61.7% | 19.34% | 22.58% | 57.93% | 189.55% | 118.28% | 340.5% | - | - | - | - | - | - | - | - | - | - | - | 21.23% | 12.1% | 7.63% | 4.56% | 5.43% | 4.83% | 10.87% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 4M | 7.8M | 13.59M | 13.03M | 12.7M | 13.73M | 2.66M | 1.6M | 96.3K | 5.85K | 12.76K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 357.24K | 0 | 0 | -90.93K | 0 | -10K | 0 |
| Operating Income | 3.54M | -820.06K | -59.71M | -6.44M | 2.37M | 28.53M | -5.38M | -13.84M | -8.98M | -1.8M | -5.09M | -3.37K | -4.96K | -6.77K | -16.34K | -12.61K | -21.24K | -17.45K | -27.04K | -43.66K | -25.64K | -708 | -3.51M | 240.52K | 1.44M | 1.89M | 1.2M | 820K | 90K |
| Operating Margin % | 6.58% | -1.6% | -120.87% | -11.94% | 3.75% | 11.87% | -8.61% | -93.62% | -196.69% | -101.98% | -438.01% | - | - | - | - | - | - | - | - | - | - | - | -20.14% | 1.19% | 5.24% | 9.59% | 9.3% | 7.21% | 1.63% |
| Operating Income Growth % | - | 98.63% | -826.79% | -372.17% | -91.7% | 630.23% | 61.12% | -54.08% | -398.39% | 64.63% | - | 32.1% | 26.67% | 58.58% | -29.6% | 40.64% | -21.67% | 35.46% | 38.05% | -70.26% | -3521.47% | 99.98% | -1560.16% | -83.33% | -23.69% | 57.58% | 46.34% | 811.11% | - |
| EBITDA | 18.14M | 13.58M | -46.12M | 6.59M | 15.07M | 45.94M | -503.23K | -9.38M | -8.38M | -1.73M | -4.95M | 19.45K | -4.96K | -6.77K | -16.34K | -12.61K | -21.24K | -28.66K | -35.68K | 92.69K | -25.64K | -708 | -3.37M | 377.43K | 1.47M | 1.91M | 1.2M | 840K | 100K |
| EBITDA Margin % | 33.74% | 26.56% | -93.36% | 12.22% | 23.86% | 19.12% | -0.81% | -63.47% | -183.56% | -97.89% | -425.21% | - | - | - | - | - | - | - | - | - | - | - | -19.32% | 1.87% | 5.34% | 9.69% | 9.3% | 7.38% | 1.81% |
| EBITDA Growth % | 145.11% | 129.44% | -799.76% | -56.26% | -67.2% | 9228.12% | 94.64% | -11.94% | -384.53% | 65.02% | -25530.11% | 491.82% | 26.67% | 58.58% | -29.6% | 40.64% | 25.91% | 19.67% | -138.5% | 461.5% | -3521.47% | 99.98% | -992.48% | -74.34% | -23.08% | 59.35% | 42.86% | 740% | - |
| D&A (Non-Cash Add-back) | 14.6M | 14.4M | 13.59M | 13.03M | 12.7M | 17.41M | 4.88M | 4.46M | 599.86K | 72.26K | 148.86K | 22.82K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 136.34K | 0 | 0 | 143.53K | 136.91K | 27.94K | 21.22K | 0 | 20K | 10K |
| EBIT | 6.24M | -820.06K | -58.85M | -5.85M | 2.35M | 28.55M | -4.8M | -13.84M | -11.1M | -1.8M | -5.09M | -3.37K | -4.96K | -6.77K | -16.34K | -12.61K | -21.24K | -28.66K | -35.68K | 92.69K | -25.64K | 0 | -3.15M | 240.52K | 1.4M | 1.8M | 1.2M | 820K | 90K |
| Net Interest Income | -614.63K | 1.77M | -82.17K | -127.49K | -632.06K | -637.8K | -3.01M | -719.19K | -611K | 5.09K | -533K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 559.33K | 0 | 0 | 318.98K | - | - | 0 | - | 0 | 5.09K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 1.17M | -1.77M | 82.17K | 446.47K | 632.06K | 637.8K | 3.01M | 719.19K | 610.6K | 0 | 532.75K | 15.86K | 16.16K | 15.01K | 14.16K | 12.84K | 11.49K | 11.21K | 8.64K | 0 | 0 | 0 | 403.76K | 0 | 0 | 0 | 0 | -20K | 0 |
| Other Income/Expense | 1.04M | -4.08M | 778.12K | 144.54K | -91.67K | -615.96K | -2.43M | -719.19K | -2.73M | 5.09K | -1.81M | -15.86K | -16.16K | -15.01K | -14.16K | -12.84K | -11.49K | -11.21K | -8.64K | 136.34K | 0 | 0 | -404K | -98.58K | 2.16K | 9.07K | 0 | 20K | 0 |
| Pretax Income | 4.58M | -4.9M | -58.94M | -6.3M | 2.28M | 27.91M | -7.81M | -14.56M | -11.71M | -1.8M | -1.8M | -19.23K | -21.12K | -21.78K | -30.5K | -25.44K | -32.73K | -28.67K | -35.61K | 92.69K | -25.64K | -708 | -3.92M | 141.95K | 1.4M | 1.91M | 1.2M | 840K | 90K |
| Pretax Margin % | 8.52% | -9.58% | -119.3% | -11.68% | 3.6% | 11.62% | -12.5% | -98.49% | -256.44% | -101.7% | -154.51% | - | - | - | - | - | - | - | - | - | - | - | -22.46% | 0.7% | 5.08% | 9.7% | 9.3% | 7.38% | 1.63% |
| Income Tax | 86.25K | 49.54K | 6.29M | -948.29K | -1.35M | 2.04M | 0 | 0 | 0 | -5.09K | 1.81M | 800 | 800 | 800 | 800 | 800 | 1.13K | 800 | 590 | 800 | 800 | 800 | -836K | 46K | 629.36K | 800K | 500K | 170K | -180K |
| Effective Tax Rate % | 1.88% | -1.01% | -10.67% | 15.06% | -59.2% | 7.32% | 0% | 0% | 0% | 0.28% | -100.89% | -4.16% | -3.79% | -3.67% | -2.62% | -3.14% | -3.45% | -2.79% | -1.66% | 0.86% | -3.12% | -112.99% | 21.35% | 32.41% | 44.95% | 41.82% | 41.67% | 20.24% | -200% |
| Net Income | 5.73M | -3.54M | -130.83M | -16.59M | -8.77M | 25.87M | -7.81M | -14.56M | -11.71M | -1.8M | -5.07M | -20.03K | -21.92K | -22.58K | -31.3K | -26.24K | -33.85K | -29.47K | -36.28K | 91.89K | -26.44K | -1.51K | -3.08M | 95.95K | 800K | 1.1M | 700K | 670K | 270K |
| Net Margin % | 10.66% | -6.92% | -264.84% | -30.76% | -13.88% | 10.77% | -12.5% | -98.49% | -256.44% | -101.7% | -435.51% | - | - | - | - | - | - | - | - | - | - | - | -17.66% | 0.47% | 2.91% | 5.58% | 5.43% | 5.89% | 4.89% |
| Net Income Growth % | 104.68% | 97.3% | -688.46% | -89.28% | -133.89% | 431.11% | 46.33% | -24.32% | -551.59% | 64.52% | -25185.81% | 8.62% | 2.91% | 27.86% | -19.27% | 22.48% | -14.89% | 18.77% | -139.48% | 447.54% | -1653.32% | 99.95% | -3310.14% | -88.01% | -27.27% | 57.14% | 4.48% | 148.15% | - |
| Net Income (Continuing) | 4.49M | -4.95M | -65.22M | -5.35M | 3.62M | 25.87M | -7.81M | -14.56M | -11.71M | -1.8M | -5.79M | -20.03K | -21.92K | -22.58K | -31.3K | -26.24K | -33.85K | -29.47K | -36.28K | 91.89K | -26.44K | -1.51K | -3.08M | 95.95K | 800K | 1.1M | 700K | 670K | 270K |
| Discontinued Operations | 1000K | 1.41M | -65.61M | -11.24M | -12.39M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 0.05 | -0.06 | -1.14 | -0.16 | -0.10 | 0.27 | -0.14 | -0.32 | -0.35 | -0.07 | -0.30 | -0.03 | -0.04 | -0.04 | -0.05 | -0.05 | -0.06 | -0.05 | -0.06 | 0.44 | -0.19 | -0.01 | -23.75 | 0.75 | 5.50 | 12.50 | 9.25 | 9.57 | 3.86 |
| EPS Growth % | 102.32% | 95.06% | -612.5% | -60% | -137.04% | 292.86% | 56.25% | 8.57% | -407.25% | 77% | -764.55% | 8.68% | 2.81% | 27.86% | -19.12% | 22.49% | -14.87% | 18.76% | -114.3% | 331.58% | -1659.26% | 99.95% | -3266.67% | -86.36% | -56% | 35.14% | -3.34% | 147.93% | - |
| EPS (Basic) | - | -0.06 | -1.14 | -0.16 | -0.10 | 0.27 | -0.14 | -0.32 | -0.35 | -0.07 | -0.30 | -0.03 | -0.04 | -0.04 | -0.05 | -0.05 | -0.06 | -0.05 | -0.06 | 0.44 | -0.19 | -0.01 | -23.75 | 0.75 | 7.00 | 13.75 | 9.25 | 9.57 | 3.86 |
| Diluted Shares Outstanding | 124.03M | 117.1M | 117.64M | 118.25M | 117.18M | 114.19M | 55.04M | 45.61M | 33.6M | 26.05M | 19.28M | 577.06K | 577.06K | 577.04K | 577.04K | 577.04K | 577.04K | 577.04K | 577.04K | 209.57K | 139.2K | 139.2K | 129.66K | 145.93K | 145.46K | 88K | 75.68K | 70K | 70K |
| Basic Shares Outstanding | 116.49M | 117.1M | 117.64M | 118.25M | 117.18M | 112.33M | 55.04M | 45.61M | 33.6M | 26.05M | 19.28M | 577.04K | 577.06K | 577.04K | 577.04K | 577.04K | 577.04K | 577.04K | 577.04K | 209.57K | 139.2K | 139.2K | 129.66K | 124.13K | 114.29K | 57.14K | 75.68K | 70K | 70K |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Quick answers to the most common questions about buying POWW stock.
For fiscal year 2026, Outdoor Holding Company (POWW) reported total revenue of $51.1M. This represents a 826.2% increase compared to $5.5M in 1995.
Outdoor Holding Company (POWW) reported a net loss of $3.5M for the fiscal year ending 2026.
Outdoor Holding Company (POWW) reported an operating income of $-0.8M, resulting in an operating profit margin of -1.6%. This margin reflects the operational efficiency of the business before interest and taxes.
Outdoor Holding Company (POWW) generated $30.2M in gross profit for the year, representing a gross profit margin of 59.1%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Regulatory and operational volatility
Metrics are mathematically derived from official filings.
Erratic Revenue Growth Patterns Observed
As indicated by the most recent quarterly filings, POWW's revenue trajectory remains highly inconsistent, with a 132.9% surge in 2026Q4 following a period of significant contraction, suggesting that the company's top-line performance is heavily influenced by episodic demand rather than a stable, predictable growth engine.
The extreme volatility in quarterly revenue figures suggests that the business is struggling to establish a consistent baseline of recurring income. Investors should monitor whether the recent revenue spike represents a sustainable shift in marketplace activity or merely a temporary fluctuation in ammunition demand.
Gross Margin Expansion Masks Inefficiency
Based on reported financial statements, the company achieved a gross margin of 87.6% in 2026Q4, yet this significant improvement in profitability at the gross level has failed to translate into positive net income, highlighting a disconnect between the platform's pricing power and its underlying cost structure.
The wide variance in gross margins, ranging from negative figures in 2025Q4 to over 87% in recent periods, implies a fundamental shift in the business mix toward the high-margin marketplace. However, the inability to maintain consistent profitability suggests that the manufacturing segment continues to exert downward pressure on overall margins.
Operating Leverage Remains Elusive Target
According to historical income statement data, POWW has struggled to achieve meaningful operating leverage, as evidenced by the persistent gap between gross profit and operating income, which frequently dips into negative territory despite the company's transition toward a higher-margin digital marketplace model over the last ten quarters.
The company's SG&A expenses appear disproportionately high relative to its revenue base, indicating that the corporate overhead may be scaled for a larger operation than currently exists. This lack of operating leverage warrants further investigation into whether the company can successfully streamline its cost base to match its digital-first strategy.
Structural Risks to Profitability Persistence
While the marketplace moat provides a unique competitive advantage, the company's history of negative net margins, including a -6.92% net margin in the most recent period, suggests that the business model may be fundamentally challenged by high fixed costs and the inherent volatility of its industrial segment.
Short-sellers may focus on the company's inability to convert its high gross margins into consistent bottom-line profitability, which could indicate that the marketplace's success is being offset by legacy manufacturing liabilities. The reliance on non-recurring revenue streams may also pose a risk to long-term valuation if market demand for firearms experiences a sustained cyclical downturn.