Thu, Sep 5, 8:25 PM (131 days ago)
For the quarter ended July 31, 2024, American Outdoor Brands, Inc. reported net sales of $41.6 million, a decrease of 4.1% from the previous year. Gross margin remained stable at 45.4%. The company recorded a net loss of $2.4 million, or $0.18 per diluted share, an improvement from a $4.1 million loss in the prior year. Adjusted EBITDAS rose to $2.0 million, up from $1.1 million, indicating better operational efficiency. Operating expenses fell by 9.7%, driven by reductions in general and administrative costs, reflecting efforts to manage expenses amidst declining revenues. Cash flow from operations was negative at $4.4 million due to increased inventory levels, although accounts payable rose, partially offsetting cash outflows. The company ended the quarter with $23.5 million in cash and cash equivalents. Future capital requirements will depend on sales performance and strategic initiatives, including potential acquisitions. The outlook remains cautious due to uncertainties in consumer spending and market conditions. Overall, while the company is making progress in reducing losses, revenue declines and cash flow challenges persist.