AMMO, Inc. (NASDAQ:POWW) Q4 2023 Earnings Call Transcript

Jared Smith: We’re working through that inventory now, and what we’re seeing is that we’ve improved margins by 10% to 15% in pistol. Going into the end of calendar year ’22 into ’23, we were damn near at breaking even on most of our rifle ammunition. A lot of that was imported and resold, but it was still heavily commodity mixed. So we turn those machines off, and we’ve set a 10% to 15%, and some months 17% increase in margins based upon the mix that we’re putting out that month. And we have grown our margin business by six fold, I mean our brass business by six-fold since January, where we’re seeing 30% margins.

Edward Reilly: Okay, great. Thank you for that.

Jared Smith: Absolutely. We’re excited where we’re going and I got to tell you what looking back at where the company has come from and it’s quick short seven years, and 22 with a proxy contest and legal fees, we are off to the races in this ’24 fiscal year. So appreciate it.

Operator: This concludes our question-and-answer session. I would now like to turn the call back to Fred Wagenhals for any closing remarks.

Fred Wagenhals: Thank you shareholders and supporters of the company. I appreciate your support. I’ve watched Jared put together a phenomenal team over the past five months, and I have the privilege of setting in the meetings and seeing where we’re going in the next year. And I said you’re going to see some very exciting things out of this company. Thanks again for everything.

Operator: Conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.