Net Sales Growth
Net sales of $13.4 million in fiscal Q3 2026, an increase of 7% (about $900,000) versus the same period last year.
Strong Gross Margin
Gross margin remained robust at ~87% for the quarter (87.1% reported year-to-date), sustaining high profitability on revenue.
GMV Expansion
Gross merchandise value (GMV) rose to $215.8 million (nearly $216 million), up 6.4% year-over-year.
Adjusted EBITDA Improvement
Adjusted EBITDA increased to $6.5 million for the quarter, a 54% improvement year-over-year (and represented ~49% of net sales in Q3).
Return to Net Income
Net income before discontinued operations of $1.465 million in Q3 versus a loss of $21.077 million in the same period last year; GAAP EPS from continuing operations of $0.01 vs a loss of $0.18 prior-year quarter.
Meaningful Operating Expense Reductions
Operating expenses (including D&A) declined approximately $22 million year-over-year for the quarter, with the largest component down about $21 million; year-to-date operating expenses reduced ~$28.9 million driven largely by legal resolutions and lower corporate costs.
Improved Cash Position and Cash Generation
Generated over $4 million of cash from operations in the quarter; cash balance improved by nearly $4.2 million from last quarter to $69.9 million (including $500k of interest income).
Category and Unit Sales Strength
Firearm unit sales grew over 8% from the prior quarter; used firearms and new firearms both showed growth year-over-year, with used leading the increase.
YTD Performance Progress
Year-to-date net sales $37.2 million vs $36.8 million prior year; YTD gross margins 87.1% vs 86.7%; adjusted EBITDA per share YTD $0.12 vs $0.10; YTD net loss before discontinued operations improved to $4.5 million from $40.6 million.
Capital Allocation Intent and Share Repurchase Plan
Company announced a stock repurchase program and intends to deploy cash opportunistically; management indicated disciplined capital allocation and potential for additional shareholder returns as legal matters resolve.