About Outdoor Holding Company
Outdoor Holding Company is a publicly traded, technology-focused company built around the scale, reach, and continued development of GunBroker.com, the largest online marketplace dedicated to firearms, hunting, shooting, and related products in the United States. Headquartered in Atlanta, Georgia, and traded on Nasdaq under the symbols POWW and POWWP, Outdoor Holding Company has evolved into a focused, asset-light digital marketplace operator with an emphasis on technology, operational efficiency, responsible innovation, and sustainable long-term growth.
At the center of the company is GunBroker.com, an established online marketplace that has connected buyers and sellers since 1999. The platform brings together federally licensed firearms dealers, retailers, manufacturers, independent sellers, collectors, and consumers within a specialized digital ecosystem. Rather than functioning as a conventional retailer that purchases and maintains large amounts of inventory, GunBroker primarily provides the marketplace infrastructure through which third-party sellers list products and buyers discover them. Firearms sold through the marketplace are transferred through federally licensed firearms dealers in accordance with applicable law. Applicable firearm transactions are supported by licensed dealers and processes designed for the regulated nature of the category. The Company’s current strategy is focused on strengthening the marketplace through investments in technology, seller tools, transaction services, and other operational capabilities intended to improve the experience for buyers and sellers.
A Company Transformed Around Digital Commerce
Outdoor Holding Company entered its current form following a significant strategic transformation. Previously known as AMMO, Inc., the Company historically operated an ammunition manufacturing business while also owning GunBroker.com. On April 18, 2025, the Company completed the divestiture of its ammunition manufacturing division, allowing it to focus its operations and resources on GunBroker.com and digital marketplace commerce. The Company subsequently rebranded as Outdoor Holding Company.
The transformation established a clearer strategic direction. Instead of dividing management attention and capital between manufacturing and e-commerce, Outdoor Holding Company could focus on growing and modernizing its core marketplace. Steve Urvan, the founder of GunBroker.com, returned to the organization in May 2025 as Chairman and Chief Executive Officer. Urvan originally founded GunBroker in 1999 and led the business for 22 years, giving him extensive experience with the marketplace, its users, and the broader evolution of specialized e-commerce. His return coincided with Outdoor Holding Company’s transition toward a more streamlined operating model centered on GunBroker. Under this leadership, the company has emphasized a strategy based on operational efficiency, marketplace growth, technology investment, and disciplined capital allocation.
The Scale of GunBroker.com
GunBroker.com provides Outdoor Holding Company with an established marketplace on which to pursue its strategy. For the fiscal first quarter ended June 30, 2026, the Company reported approximately 8.9 million users, more than 4.4 million daily listings, access to a nationwide network of more than 32,000 federally licensed firearms dealers, and approximately $223.7 million in quarterly gross merchandise value, or GMV.
This scale is important because digital marketplaces can benefit from network effects.
A large community of buyers can make GunBroker attractive to sellers seeking access to interested consumers. As additional sellers participate, they can contribute more listings and a wider range of available products. Greater selection can then make the marketplace more useful to buyers, potentially encouraging additional engagement and transaction activity.
This relationship can be especially valuable in specialized commerce. GunBroker’s marketplace encompasses contemporary products as well as specialized, discontinued, collectible, historical, and difficult-to-find items. Aggregating inventory from independent sellers across the country can give consumers access to a breadth of selection that would be difficult for an individual retailer to reproduce. Outdoor Holding Company identifies these network effects as an important component of GunBroker’s competitive position. The combination of buyers, sellers, product selection, availability, and price discovery can help create marketplace liquidity while strengthening the overall ecosystem.
An Asset-Light Marketplace Model
Outdoor Holding Company’s strategic transformation has also changed the underlying economics of the business. GunBroker operates an asset-light model. Because third-party sellers generally provide the merchandise offered through the marketplace, Outdoor Holding Company does not need to own the inventory or maintain the physical distribution infrastructure associated with a conventional retailer. Instead, revenue is generated primarily through marketplace transaction fees and related services. This structure does not generally require the Company to make the inventory, manufacturing, or physical-distribution investments associated with a conventional retailer, although additional marketplace activity may require continued investment in technology, personnel, compliance, and customer support.
Recent results illustrate the characteristics of this model. For the fiscal first quarter ended June 30, 2026, the Company reported net revenues of $14.5 million, a 22.1% increase from the comparable prior-year period. Net income from continuing operations was $3.6 million, compared with a net loss from continuing operations of $5.9 million in the prior-year period. Net cash provided by operating activities was $4.4 million, compared with net cash used in operating activities of $6.7 million in the prior-year period. The Company also reported year-over-year increases in traffic, conversion, average order value, and firearm unit sales.
Investing in a Better Marketplace Experience
Technology is central to Outdoor Holding Company’s approach to strengthening GunBroker.
A marketplace containing millions of listings must do more than provide inventory. Buyers need effective ways to discover relevant products, while sellers need efficient tools for creating listings, reaching potential customers, and managing their marketplace activity. Outdoor Holding Company has therefore continued investing in areas such as search relevance, filtering, buyer personalization, seller analytics, promotional capabilities, and artificial intelligence. The broader goal is to reduce friction throughout the marketplace while making GunBroker increasingly productive for participants.
The Company has also invested in infrastructure specific to its specialized marketplace. During fiscal 2026, it completed an integration with Master FFL designed to improve dealer information, FFL selection, and transfer workflows. The Company also deployed an AI-powered listing tool designed to assist sellers in creating standardized, marketplace-optimized product descriptions while allowing sellers to review and edit listing content. The Company continues to evaluate other practical applications of AI intended to improve marketplace functionality and customer support.. These investments fit within a larger strategy of using technology to make GunBroker’s existing marketplace scale more productive.
Supporting Buyers, Sellers, and Independent Businesses
GunBroker’s value is closely connected to the community participating on both sides of its marketplace. For buyers, the platform provides access to products offered by sellers across the country. Search, filtering, seller information, product descriptions, photographs, and marketplace feedback can help consumers research available options and make informed decisions. For sellers, the marketplace provides access to a large, specialized audience without requiring each participant to independently build a nationwide e-commerce platform. That can be particularly useful for licensed dealers, retailers, collectors, and smaller independent sellers seeking to reach consumers beyond their immediate geographic markets.
Outdoor Holding Company continues to explore ways to deepen the value GunBroker provides to these participants. Its identified growth opportunities include enhanced seller tools, advertising capabilities, integrated payment and transaction solutions, AI-driven functionality, and other marketplace services designed to improve engagement and conversion. These initiatives reflect an important evolution in digital marketplaces. Modern platforms increasingly serve as more than locations where products are listed. Technology, data, analytics, transaction infrastructure, promotional capabilities, and specialized services can create a broader ecosystem around the underlying commerce.
Operational Discipline and Long-Term Growth
Alongside marketplace investment, the Company has emphasized operating efficiency. During fiscal 2026, it reduced ordinary-course operating expenses by approximately $5.4 million through reductions in headcount, legal spending, and facilities costs while maintaining investment in core platform initiatives. For the fiscal year, the Company reported net revenues of $51.1 million, gross profit of $44.6 million, and a net loss from continuing operations of $4.9 million, compared with a net loss from continuing operations of $65.2 million in fiscal 2025. The Company also generated positive cash flow from operations during fiscal 2026.
The Company’s fiscal first-quarter 2027 results continued that improvement. Net revenues increased 22.1% year over year to $14.5 million, net income from continuing operations was $3.6 million, and net cash provided by operating activities was $4.4 million. Management has described its operating philosophy as “Continuous Improvement. Disciplined Growth.” and has emphasized simplifying the business, improving efficiency, investing in the platform, and allocating capital to productive uses.
Outdoor Holding Company also maintains a capital allocation strategy designed to balance reinvestment with financial flexibility. Its stated priorities include investing in platform innovation and strategic growth opportunities while maintaining a strong balance sheet and considering ways to return capital to shareholders when appropriate.
Building the Next Chapter of Outdoor Holding Company
Outdoor Holding Company today is substantially different from the organization that once operated both manufacturing and marketplace businesses. Its identity is increasingly defined by technology, specialized e-commerce, marketplace scale, and GunBroker.com. The strategic objective is not simply to maintain the marketplace that already exists. Outdoor Holding Company is working to make that ecosystem more efficient and valuable by improving product discovery, strengthening seller capabilities, reducing transaction friction, expanding marketplace services, applying AI and data where appropriate, and maintaining disciplined control over the company’s broader cost structure.
GunBroker.com’s established community, daily listings, nationwide FFL network, and marketplace activity provide an operating base for these initiatives. The Company intends to use that existing scale, together with continued technology investment and operating discipline, to improve marketplace productivity and support its long-term strategy. The success of these efforts will depend on user adoption, execution, regulatory developments, competitive conditions, and other factors described in the Company’s SEC filings.By combining an asset-light marketplace model with technology investment, operational discipline, network effects, and strategic capital allocation, Outdoor Holding Company is positioning GunBroker.com as the foundation of its next stage of development.
The transformation reflects a more focused vision for the organization: strengthen the marketplace, serve its buyers and sellers more effectively, invest where technology can create meaningful improvements, and build a scalable digital commerce business designed for long-term growth.
Information Current as of August 27, 2026. Financial and operating information on this website is derived from Outdoor Holding Company’s public disclosures. For complete and current information, please review the Company’s Investor Relations website and SEC filings.
Forward-Looking Statements. This website contains forward-looking statements concerning Outdoor Holding Company’s strategy, growth opportunities, technology investments, marketplace initiatives, payment and transaction solutions, artificial-intelligence initiatives, operating performance, and capital allocation. These statements are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially. Readers should review the risks described in the Company’s Annual Report on Form 10-K for the year ended March 31, 2026 and its subsequent SEC filings. Forward-looking statements speak only as of August 27, 2026, and the Company undertakes no obligation to update them except as required by law.