Shares of firearms and components marketplace AMMO (NASDAQ:POWW) are on the rise today after investors were left impressed with the company’s fourth-quarter topline.
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While revenue dropped 37.7% year-over-year to $43.68 million, the figure still landed well past estimates by $6.5 million. EPS at $0.03 too outperformed expectations by $0.04. During the quarter, marketplace revenue came in at $16.7 million with the average take rate rising to 6% from 5.4% in the year-ago period.
The company is shifting to a leaner operating model and managed to lower inventories by $12.8 million in Q4. Additionally, it is focusing on improving its marketplace and expects to launch the payment suite and cart platform in the first half of fiscal 2024.
Moreover, AMMO has managed to lower its total current liabilities by 29% over the prior year and boost its cash position by 68% to $15.8 million.
Buoyed by these numbers, AMMO shares are flying higher today on top of a 22.6% gain over the past month.
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