Core Viewpoint - Pomerantz LLP is investigating potential securities fraud or unlawful business practices involving American Outdoor Brands, Inc. and its officers or directors [1] Financial Performance - On June 26, 2025, American Outdoor reported its financial results for Q4 and the full fiscal year 2025, revealing that retailers accelerated orders, pulling forward an estimated $8 million to $10 million in sales from the upcoming fiscal year [3] - The company announced the suspension of its fiscal 2026 guidance due to uncertainties surrounding tariffs [3] Stock Market Reaction - Following the announcement of the financial results and guidance suspension, American Outdoor's stock price dropped by $1.57 per share, or 13.13%, closing at $10.39 per share on June 27, 2025 [4]

Core Insights - BUBBA and Major League Fishing (MLF) have partnered to launch SCORETRACKER LIVE, integrating MLF SCORETRACKER technology into the BUBBA app, set to begin in Spring 2026 [1][2][10] Group 1: Product Features - The BUBBA app will enable tournament organizers to host and manage custom fishing tournaments easily through SCORETRACKER LIVE [2][9] - Anglers can use compatible BUBBA scales to catch, weigh, and release fish, with data syncing automatically to SCORETRACKER LIVE [3][5] - The platform allows real-time scoring, enhancing the competitive experience while supporting sustainable fishing practices [5][10] Group 2: User Experience - Spectators can follow live tournaments from anywhere, experiencing real-time scoring similar to professional events [4][10] - The SCORETRACKER LIVE platform will be accessible to any angler, school, or organization, broadening participation in tournament fishing [8][9] Group 3: Company Background - BUBBA is a leading lifestyle brand under American Outdoor Brands, specializing in high-quality fishing tools and accessories [11] - Major League Fishing is the largest tournament-fishing organization, producing over 250 events annually and broadcasting to a wide audience [12]

Core Viewpoint - Pomerantz LLP is investigating potential securities fraud or unlawful business practices involving American Outdoor Brands, Inc. and its officers or directors [1] Financial Performance - On June 26, 2025, American Outdoor reported its financial results for Q4 and the full fiscal year 2025, revealing that retailers accelerated orders, pulling forward an estimated $8 million to $10 million in sales from the upcoming fiscal year [3] - The company announced the suspension of its fiscal 2026 guidance due to uncertainties surrounding tariffs [3] Stock Market Reaction - Following the financial results announcement, American Outdoor's stock price dropped by $1.57 per share, or 13.13%, closing at $10.39 per share on June 27, 2025 [4]

Core Viewpoint - Pomerantz LLP is investigating potential securities fraud or unlawful business practices involving American Outdoor Brands, Inc. and its officers or directors [1] Financial Performance - On June 26, 2025, American Outdoor reported its financial results for Q4 and full fiscal year 2025, revealing that retailers accelerated orders, pulling forward an estimated $8 million to $10 million in sales from the upcoming fiscal year [2] - The company announced the suspension of its fiscal 2026 guidance due to uncertainties surrounding tariffs [2] Stock Market Reaction - Following the news of the financial results and guidance suspension, American Outdoor's stock price dropped by $1.57 per share, or 13.13%, closing at $10.39 per share on June 27, 2025 [3]

Group 1 - The investment strategy focuses on long-only investment, evaluating companies from an operational and buy-and-hold perspective [1] - The approach does not prioritize market-driven dynamics or future price action, instead emphasizing the long-term earnings potential of companies [1] - The majority of recommendations will be holds, indicating a cautious approach to market conditions and a belief that only a small fraction of companies are suitable for buying at any given time [1] Group 2 - The articles aim to provide valuable information for future investors while maintaining a healthy skepticism towards a generally bullish market [1] - The author expresses no current stock or derivative positions in the companies mentioned, ensuring an unbiased perspective [2] - The content reflects the author's personal opinions and is not influenced by any business relationships with the companies discussed [2]

Financial Performance & Strategy - The company's FY25 net sales reached $222.3 million, compared to $201.1 million in FY24 [82] - The company aims for $400 million in net sales, projecting EBITDA to exceed $70 million at that level [56] - The company's long-term operating model targets ~30% EBITDA contribution when sales exceed $200 million [57] - As of April 30, 2025, the company reported cash and cash equivalents of $23.423 million [62, 84] - The company's Shooting Sports category has grown by 4.7% since FY20, while the Outdoor Lifestyle category has grown 66.1% [72] Innovation & Product Development - The company's innovation platform has yielded over $93 million of incremental organic revenue compared to five years ago [40] - The company has secured 170 new patents, protecting future revenue potential [40] - The company maintains an asset-light operation with outsourced manufacturing and scalable infrastructure to support $400 million in revenue [53] Future Outlook - The company expects its future net sales to be comprised of 65% Outdoor Lifestyle, 10% international [75] - The company is focusing on organic growth, opportunistic M&A, and stock buybacks [61, 65]

Financial Performance - FY25 net sales reached $222.3 million, an increase of 10.6% year-over-year[4] - FY25 gross margin was 44.6%, up 60 basis points from the previous year[4] - FY25 non-GAAP net income was $10.0 million, or $0.76 per diluted share, compared to $4.3 million, or $0.32 per diluted share, in the prior year[4] - FY25 Adjusted EBITDA was $17.7 million, representing 7.9% of net sales, up from $9.8 million, or 4.9% of net sales, in the prior year[5] - Q4 FY25 net sales were $61.9 million, an increase of 33.8% compared to $46.3 million in the same quarter last year[10] - Q4 FY25 non-GAAP net income was $1.7 million, or $0.13 per diluted share, compared to a non-GAAP net loss of $45,000 in the same quarter last year[10] Revenue Composition - The Outdoor Lifestyle category now represents 57% of total revenue, up from 40% in fiscal 2021[8] - Approximately $8 million to $10 million in orders were accelerated by retailers into Q4 FY25, originally planned for FY26[12] Balance Sheet and Cash Position - The company ended FY25 with a strong, debt-free balance sheet and $23.4 million in cash[11] - Total current assets increased to $171,590,000 as of April 30, 2025, compared to $155,374,000 a year earlier, reflecting a growth of 10.4%[21] - Cash and cash equivalents decreased to $23,423,000 from $29,698,000, a decline of 21.1% year-over-year[23] - Total liabilities increased to $68,745,000 as of April 30, 2025, up from $62,672,000 in 2024, marking an increase of 9.0%[21] - The total equity as of April 30, 2025, was $177,610,000, slightly down from $177,925,000 in 2024, indicating a decrease of 0.2%[21] Operating Results - Operating loss for the three months ended April 30, 2025, improved to $(953,000) from $(5,506,000) in the same period of 2024[21] - Non-GAAP net income for the year ended April 30, 2025, was $10,028,000, compared to $4,346,000 in 2024, representing a significant increase of 130.8%[24] - The company reported a net loss of $(77,000) for the year ended April 30, 2025, a substantial improvement from a net loss of $(12,248,000) in 2024[23] - For the three months ended April 30, 2025, the GAAP net loss was $989,000, compared to a loss of $5,302,000 for the same period in 2024[25] - For the years ended April 30, 2025, the GAAP net loss was $77,000, an improvement from a loss of $12,248,000 in 2024[25] Expenses and Adjustments - Research and development expenses for the year ended April 30, 2025, rose to $7,710,000, a 12.6% increase from $6,851,000 in 2024[21] - Total depreciation and amortization for the year ended April 30, 2025, was $13,179,000, down from $16,005,000 in 2024[25] - Stock compensation expenses for the year ended April 30, 2025, were $3,500,000, compared to $4,075,000 in 2024[25] - Emerging growth status transition costs amounted to $458,000 for the year ended April 30, 2025[25] - Non-recurring inventory reserve adjustments were $444,000 for the year ended April 30, 2025[25] Other Financial Metrics - Interest income for the three months ended April 30, 2025, was $44,000, down from $110,000 in 2024[25] - The company did not incur any technology implementation costs for the year ended April 30, 2025, compared to $465,000 in 2024[25] - The company has over 400 patents and patents pending, indicating a robust product pipeline[9]

Company Performance - American Outdoor Brands, Inc. (AOUT) reported quarterly earnings of $0.13 per share, exceeding the Zacks Consensus Estimate of a loss of $0.02 per share, and compared to break-even earnings per share a year ago, representing an earnings surprise of +750.00% [1] - The company posted revenues of $61.94 million for the quarter ended April 2025, surpassing the Zacks Consensus Estimate by 28.78%, and compared to year-ago revenues of $46.3 million [2] - Over the last four quarters, the company has consistently surpassed consensus EPS estimates and revenue estimates [2] Stock Performance - American Outdoor Brands shares have declined approximately 28.3% since the beginning of the year, while the S&P 500 has gained 3.6% [3] - The current status of estimate revisions translates into a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market in the near future [6] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $0.02 on revenues of $45.6 million, and for the current fiscal year, it is $0.73 on revenues of $223 million [7] - The outlook for the industry, specifically the Leisure and Recreation Products sector, is currently in the bottom 42% of Zacks industries, which may impact the stock's performance [8]

Financial Data and Key Metrics Changes - The company achieved net sales of $222.3 million, an increase of 10.6% compared to fiscal 2024, driven by growth in every sales channel and category [22] - Gross margins increased by 60 basis points to 44.6%, primarily due to higher sales volumes, partially offset by increased tariff and freight costs [26] - Adjusted EBITDA for fiscal 2025 was $17.7 million, up 80.8% from fiscal 2024 [29] - GAAP EPS for fiscal 2025 was a loss of $0.01 compared to a loss of $0.94 in the prior year, while non-GAAP EPS was $0.76 compared to $0.32 in fiscal 2024 [28] Business Line Data and Key Metrics Changes - Outdoor lifestyle category net sales grew by 16.2%, driven mainly by sales in Bubba, Meet Your Maker, and BOG brands [24] - Shooting sports category net sales grew by 3.8%, primarily driven by sales in the Caldwell brand [24] - Direct-to-consumer net sales increased to $29.6 million from $29.1 million last year, representing a significant growth in DTC sales from roughly 3% to over 13% of total net sales [16][23] Market Data and Key Metrics Changes - Domestic net sales increased by almost 10%, while international net sales grew by 20% compared to fiscal 2024 [23] - E-commerce sales grew from 32% in fiscal 2020 to 38% in fiscal 2025, indicating a shift towards online sales channels [15] Company Strategy and Development Direction - The company aims to expand its reach into new categories, customers, and geographies, focusing on innovation and sustainable growth [6][7] - The strategic shift from a concentration in shooting sports to a broader outdoor lifestyle focus has seen outdoor lifestyle sales grow from 46% of net sales in FY 2020 to 57% today [15] - The company has secured 170 new patents, growing its patent portfolio by over 65%, indicating a strong commitment to innovation [16] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the uncertainty in the macro environment and evolving tariff policies, which may impact consumer behavior [33] - Despite the challenges, management expressed confidence in the underlying demand for their products and the strength of their innovation pipeline [60] - The company is proactively mitigating potential risks through a disciplined, multi-pronged approach to manage the evolving tariff landscape [18][39] Other Important Information - The company is set to join the Russell 3000 Index and the small-cap Russell 2000 Index, enhancing visibility within the investment community [41] - The company ended the year with cash of $23.4 million and no debt, maintaining a strong balance sheet [29][31] Q&A Session Summary Question: Can you provide more color on the $8 million to $10 million of fiscal 2026 demand that was pulled into Q4? - Management indicated that retailers accelerated orders due to anticipated price increases from suppliers, benefiting the company [45] Question: What are the early Q1 trends for consumer discretionary spending? - Management noted strong point-of-sale trends, indicating healthy consumer demand despite some surface-level bumps related to inventory management [48][49] Question: What drove the strength in the traditional sales channel? - The strength was attributed to a combination of load-in related factors and the traditional channel's effectiveness in launching new products [50][51] Question: What is the current M&A environment and appetite for acquisitions? - Management expressed a clean balance sheet and readiness to pursue acquisitions, particularly in the outdoor lifestyle segment, with ongoing conversations for potential deals [53][54] Question: Can you clarify the reason for the withdrawn guidance? - Management explained that the acceleration of orders led to a slower start in Q1, creating uncertainty in order flow and prompting the decision to suspend guidance [59][60] Question: How much exposure does the company have to China in terms of cost of goods? - Management indicated that while there is exposure, they have built up inventory and are prepared to shift production to mitigate tariff impacts [70][72]

Financial Data and Key Metrics Changes - The company achieved net sales of $222.3 million, an increase of 10.6% compared to fiscal 2024, driven by growth in every sales channel and category [22] - Gross margins increased by 60 basis points to 44.6%, primarily due to higher sales volumes, partially offset by increased tariff and freight costs [26] - Non-GAAP EPS for fiscal 2025 was $0.76, compared to $0.32 in fiscal 2024, while GAAP EPS was a loss of $0.01 compared to a loss of $0.94 in the prior year [28] Business Line Data and Key Metrics Changes - Outdoor lifestyle category net sales grew by 16.2%, driven mainly by sales in Bubba, Meet Your Maker, and BOG brands [24] - Shooting sports category net sales grew by 3.8%, primarily driven by sales in the Caldwell brand [24] - Direct-to-consumer sales increased from $29.1 million to $29.6 million, representing a significant growth in DTC sales from roughly 3% to over 13% of total net sales [16][23] Market Data and Key Metrics Changes - Domestic net sales increased by almost 10%, while international net sales grew by 20% compared to fiscal 2024 [23] - E-commerce sales grew from 32% of net sales in FY 2020 to 38% in FY 2025, indicating a shift towards online sales channels [15] Company Strategy and Development Direction - The company aims to expand its reach into diverse markets and across multiple distribution channels, evolving from a focus on shooting sports to a broader outdoor lifestyle approach [14] - The company has secured 170 new patents, growing its patent portfolio by over 65%, indicating a strong commitment to innovation [16] - The company is actively exploring acquisition opportunities to bolster its outdoor lifestyle products, maintaining a clean balance sheet to facilitate potential deals [52] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the uncertainty in the macro environment and evolving tariff policies, which may impact consumer behavior [33] - Despite the challenges, management expressed confidence in the underlying demand for their products and the strength of their innovation pipeline [32] - The company is suspending its previously issued net sales guidance for fiscal 2026 due to the pull-forward of orders and uncertainty in retail order flow [33][58] Other Important Information - The company is set to join the Russell 3000 Index and the small-cap Russell 2000 Index, enhancing visibility within the investment community [40] - The company ended the year with cash of $23.4 million and no debt, indicating a strong balance sheet [29] Q&A Session Summary Question: Can you provide more color on the $8 million to $10 million of fiscal 2026 demand that was pulled into Q4? - Management indicated that retailers accelerated orders due to anticipated price increases from suppliers, benefiting the company [44] Question: What are the early Q1 trends for consumer discretionary spend? - Management noted strong point-of-sale trends, indicating healthy consumer demand despite some surface-level bumps related to inventory management [47][48] Question: What drove the strength in the traditional sales channel? - The strength was attributed to traditional retailers effectively launching new products, while e-commerce relies more on social proof for purchasing decisions [49][50] Question: What is the current M&A environment and appetite for acquisitions? - Management expressed readiness to pursue acquisitions, particularly with companies struggling in the current environment, while maintaining a cautious approach [52][53] Question: Can you clarify the reason for the withdrawn guidance? - Management explained that the pull-forward of orders led to a slower start in Q1, creating uncertainty in retail order flow [58][59]