Outdoor Holding Company

Greetings and welcome to the AMO, Inc. Fiscal Fourth Quarter 2022 Earnings Call. At this time, all participants are in a listen-only mode. A brief question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Reid Anderson of ICR. Thank you, Reid. You may begin.

Thank you. Good afternoon and welcome to Ammo, Inc.' 's conference call to discuss results for the fourth quarter and full year fiscal 2022. On the call today from Ammo, Inc. with prepared remarks are Fred Wagonhals, Chairman and Chief Executive Officer, Rob Goodmanson, President, and Rob Wiley, Chief Financial Officer. By now, everyone should have access to the earnings release, which went out this afternoon at approximately 4.05 p.m. Eastern Time. If you have not received the release, It is available on the investor relations portion of Ammo Inc.' 's website at www.ammoinc.com. This call is being webcast and a replay will be available on the company's website as well. Before we begin, we would like to remind everyone that our prepared remarks contain forward-looking statements and management may make additional forward-looking statements in response to your questions. These statements do not guarantee future performance and therefore, undue reliance should not be placed upon them. These statements are based on current expectations of the company's management and involve inherent risks and uncertainties, including those identified in the risk factor section of Amoink's most recently filed forms 10-K and 10-Q. Please note that during today's call, we will discuss non-GAAP financial measures, including results on an adjusted basis. Management believes these financial measures can facilitate a more complete analysis and greater transparency into Amoink's ongoing results of operations particularly when comparing underlying operating results from period to period. We've included a reconciliation of these non-GAAP measures with today's release. This call also contains time-sensitive information that is accurate only as of the date of this live broadcast, June 29, 2022. Ammo, Inc. assumes no obligation to update any forward-looking projections that may be made in today's release or call. Now I will turn the call over to Fred Wagonhals, Chairman and Chief Executive Officer of Ammo, Inc.

Thank you, Reid, and good afternoon to everyone on the call. Fiscal 2022 was a banner year for AMO, far exceeding even our highest expectations. Revenue, which reached $240.3 million, were up an incredible 285% from fiscal 2021. and we generated nearly 76 million in adjusted EBITDA and 53 cents in adjusted EPS for the year. We did all of this with COVID, crammed working space, the move from Payson to Manitowoc, and the supply chain issues. The acquisitions and integrations of gunbroker.com marketplace platform has also proven to be transformational for the company's business model. And we are only beginning to introduce several initiatives to further leverage profitability on the 1.8 billion, that's billion with a B, in transactional volume on the platform in the past year. Over the past five years, we have grown ammo from $2 million in revenue in 2018 to what we expect to be more than $300 million in revenues in the fiscal 2023. In light of this spectacular growth, I would like to focus on why we remain confident that ammo remains well positioned to double its market share over the past two to three years. First, we are at capacity in our current facility, delivering 400 million rounds of loaded ammunition this past year. That has caused us to build our new 160,000 square foot world-class facilities where we expect to increase our capacity to one billion rounds once fully operational. This gives us significant opportunity to increase revenue, drive down manufacturing costs, and improve margins. Next, our marketplace platform gunbroker.com was fully integrated in 2022, and we are now rolling out a number of initiatives to capture a significantly greater percentage of the transactional volume from that platform, including credit card processing, credit products, gift card and loyalty programs for both the buyer and the seller. Finally, AMO continues to make great progress in our military programs division, primarily with the support of our US Special Forces we have entered into the last stage of our procurement path on our BMMPR program and are continuing to move through the development of our signature on-target program. We started AMMO in 2017 with the goal of integrating technology into the ammunition industry, and by all measures, we have succeeded in doing so. Judging by our financial performance over the past fiscal year, however, we continue to believe and to operate as if we are still early in our growth curve. There remains multiple opportunities to substantially grow revenue, enhance margins, and drive shareholder value. And we intend to continue to capitalize on those opportunities and look forward to updating our progress to shareholders at the appropriate moment. With that, I'd like to turn the call over to our President, Rob Goodmanson, to provide more detail on the operational performances for this quarter.