UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 31, 2023 Commission File No. 001-39366 | --- | --- | |------------------------------------------------------------------------------------------------------------------|------------------------------------------| ...

American Outdoor Brands, Inc. (NASDAQ:AOUT) Q4 2023 Earnings Conference Call June 28, 2023 5:00 PM ET Company Participants Liz Sharp - Vice President, Investor Relations Brian Murphy - President and Chief Executive Officer Andrew Fulmer - Executive Vice President, Chief Financial Officer and Treasurer Conference Call Participants Mark Smith - Lake Street Capital Markets Eric Wold - B. Riley Securities Matthew Koranda - ROTH MKM Operator Good afternoon and welcome to the American Outdoor Brands Fourth Quarte ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended April 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD Commission File Number 001-39366 American Outdoor Brands, Inc. (Exact name of Registrant as specified in its Charter) Delaware (State or Other Jurisdiction of Incorporation or Organi ...

American Outdoor Brands, Inc. (NASDAQ:AOUT) Q3 Fiscal 2023 Earnings Call March 9, 2023 5:00 PM ET Company Participants Liz Sharp - Vice President, Investor Relations Brian D. Murphy - President and Chief Executive Officer Andrew Fulmer - Executive Vice President, Chief Financial Officer, and Treasurer Conference Call Participants Ryan Meyers - Lake Street Eric Wold - B. Riley Securities Matt Koranda - ROTH MKM Operator Good day, everyone, and welcome to American Outdoor Brands, Inc. Third Quarter Fiscal 202 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended January 31, 2023 Commission File No. 001-39366 American Outdoor Brands, Inc. (Exact name of registrant as specified in its charter) Delaware 84-4630928 (State or other jurisdiction of incorporation or organization) (I. ...

American Outdoor Brands, Inc. (NASDAQ:AOUT) Q1 2023 Results Conference Call September 8, 2022 5:00 PM ET Company Participants Liz Sharp - VP, IR Brian Murphy - President & CEO Andy Fulmer - CFO Conference Call Participants Matt Koranda - ROTH Capital Eric Wold - B. Riley Securities Connor Jensen - Lake Street Capital John Kernan - Cowan Operator Good day everyone and welcome to American Outdoor Brands Inc. First Quarter Fiscal 2023 Financial Results Conference Call. This call is being recorded. At this time ...

PART I - FINANCIAL INFORMATION [Item 1. Financial Statements (Unaudited)](index=5&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) This section presents the unaudited condensed consolidated financial statements for the three months ended July 31, 2022 and 2021, detailing financial position, performance, and cash flows [Condensed Consolidated Financial Statements](index=5&type=section&id=Condensed%20Consolidated%20Financial%20Statements) The company reported a net loss of **$5.7 million** for Q1 FY2023, with net sales decreasing to **$43.7 million** and total equity falling to **$197.8 million** Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | July 31, 2022 | April 30, 2022 | | :--- | :--- | :--- | | **Total Current Assets** | $173,853 | $179,805 | | Inventories | $120,638 | $121,683 | | **Total Assets** | $270,669 | $277,840 | | **Total Current Liabilities** | $28,550 | $27,005 | | Notes and loans payable, net | $19,551 | $24,697 | | **Total Liabilities** | $72,871 | $74,809 | | **Total Equity** | $197,798 | $203,031 | Condensed Consolidated Statement of Operations (in thousands, except per share data) | Metric | Three Months Ended July 31, 2022 | Three Months Ended July 31, 2021 | | :--- | :--- | :--- | | Net sales | $43,676 | $60,768 | | Gross profit | $19,039 | $28,983 | | Operating (loss)/income | $(5,561) | $4,223 | | Net (loss)/income | $(5,695) | $3,457 | | Diluted (loss)/income per share | $(0.42) | $0.24 | Condensed Consolidated Statement of Cash Flows Highlights (in thousands) | Activity | Three Months Ended July 31, 2022 | Three Months Ended July 31, 2021 | | :--- | :--- | :--- | | Net cash provided by/(used in) operating activities | $5,068 | $(3,165) | | Net cash used in investing activities | $(1,610) | $(986) | | Net cash used in financing activities | $(5,510) | $(307) | | **Net decrease in cash** | **$(2,052)** | **$(4,458)** | | **Cash and cash equivalents, end of period** | **$17,469** | **$56,343** | [Notes to Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Key notes detail the company's business structure, revenue recognition, the **$27 million** Grilla Grills acquisition, debt, and single-segment reporting - The company is a provider of outdoor lifestyle products and shooting sports accessories, organized into four consumer verticals: Adventurer, Harvester, Marksman, and Defender[27](index=27&type=chunk)[28](index=28&type=chunk) Disaggregation of Revenue by Channel (in thousands) | Channel | Q1 FY2023 (ended Jul 31, 2022) | Q1 FY2022 (ended Jul 31, 2021) | % Change | | :--- | :--- | :--- | :--- | | e-commerce channels | $20,545 | $16,608 | 23.7% | | Traditional channels | $23,131 | $44,160 | -47.6% | | **Total net sales** | **$43,676** | **$60,768** | **-28.1%** | - In fiscal year 2022, the company acquired Grilla Grills for **$27 million**, financed through cash and a **$25 million** draw on its revolving line of credit The acquisition added **$18.5 million** in tradename intangible assets[44](index=44&type=chunk)[49](index=49&type=chunk) - As of July 31, 2022, the company had **$20.0 million** of borrowings outstanding on its **$75 million** revolving line of credit, bearing interest at **2.85%**[71](index=71&type=chunk)[72](index=72&type=chunk) - The company has concluded it operates as one reportable segment, as the Chief Executive Officer reviews only consolidated financial information to allocate resources[93](index=93&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=20&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses a challenging Q1 FY2023, with net sales down **28.1%** to **$43.7 million**, a **$5.7 million** net loss, and Adjusted EBITDAS falling to **$1.4 million** [Results of Operations](index=20&type=section&id=Results%20of%20Operations) Net sales decreased **28.1%** to **$43.7 million** due to a **47.6%** drop in traditional channels, while e-commerce grew **23.7%**, leading to an operating loss Q1 FY2023 vs Q1 FY2022 Performance (in thousands) | Metric | Q1 FY2023 | Q1 FY2022 | $ Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Net Sales | $43,676 | $60,768 | $(17,092) | -28.1% | | Gross Profit | $19,039 | $28,983 | $(9,944) | -34.3% | | Operating (Loss)/Income | $(5,561) | $4,223 | $(9,784) | -231.7% | | Net (Loss)/Income | $(5,695) | $3,457 | $(9,152) | -264.7% | - The **47.6%** decrease in traditional channel sales was attributed to lower orders from retailers who were reducing inventory levels, lower foot traffic, and reduced sales to OEM customers[107](index=107&type=chunk) - E-commerce sales increased by **23.7%**, primarily due to a **234.8%** surge in direct-to-consumer net sales Brands sold only on direct-to-consumer websites, including the newly acquired business, represented **$6.9 million** in sales[106](index=106&type=chunk) - Gross margin decreased by **410 basis points** primarily due to lower sales volumes, increased freight expenses, promotional discounts, and inventory provisions, which were partially offset by price increases[108](index=108&type=chunk) [Non-GAAP Financial Measure](index=22&type=section&id=Non-GAAP%20Financial%20Measure) Adjusted EBITDAS, a non-GAAP measure, significantly decreased to **$1.4 million** for Q1 FY2023 from **$9.6 million** in the prior year Reconciliation of GAAP Net (Loss)/Income to Non-GAAP Adjusted EBITDAS (in thousands) | Line Item | Three Months Ended July 31, 2022 | Three Months Ended July 31, 2021 | | :--- | :--- | :--- | | GAAP net (loss)/income | $(5,695) | $3,457 | | Interest expense | 186 | 46 | | Income tax expense | 189 | 849 | | Depreciation and amortization | 4,162 | 4,179 | | Stock compensation | 714 | 752 | | Technology implementation | 769 | 272 | | Acquisition costs | 47 | — | | Shareholder cooperation agreement costs | 1,010 | — | | **Non-GAAP Adjusted EBITDAS** | **$1,382** | **$9,555** | [Liquidity and Capital Resources](index=23&type=section&id=Liquidity%20and%20Capital%20Resources) The company held **$17.5 million** in cash, generated **$5.1 million** from operations, and expects **$7.5 million to $8.0 million** in FY2023 capital expenditures Cash Flow Summary (in thousands) | Activity | Three Months Ended July 31, 2022 | Three Months Ended July 31, 2021 | | :--- | :--- | :--- | | Operating activities | $5,068 | $(3,165) | | Investing activities | $(1,610) | $(986) | | Financing activities | $(5,510) | $(307) | | **Total cash flow** | **$(2,052)** | **$(4,458)** | - The company expects to spend approximately **$7.5 million to $8.0 million** on capital expenditures in fiscal 2023, an increase from fiscal 2022, which includes spending on its independent IT infrastructure[123](index=123&type=chunk) - The company plans to continue investing cash flows in R&D, growth strategies, debt payments, and implementing its new enterprise resource planning (ERP) system[120](index=120&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=25&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) No material changes occurred in the company's market risk disclosures from the prior Annual Report on Form 10-K - There were no material changes to the company's market risk disclosures from those provided in the most recent Form 10-K[130](index=130&type=chunk) [Item 4. Controls and Procedures](index=25&type=section&id=Item%204.%20Controls%20and%20Procedures) Disclosure controls and procedures were effective as of July 31, 2022, with no material changes in internal control over financial reporting - Management concluded that the company's disclosure controls and procedures were effective as of the end of the period[131](index=131&type=chunk) - No changes in internal control over financial reporting occurred during the fiscal quarter that have materially affected, or are reasonably likely to materially affect, internal controls[132](index=132&type=chunk) PART II - OTHER INFORMATION [Item 1. Legal Proceedings](index=26&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in ordinary course legal proceedings, incurring no material product liability litigation expenses for the quarter - The company did not incur any material expenses in defense and administrative costs related to product liability litigation for the three months ended July 31, 2022 and 2021[89](index=89&type=chunk)[134](index=134&type=chunk) [Item 1A. Risk Factors](index=26&type=section&id=Item%201A.%20Risk%20Factors) No material changes occurred in the company's risk factors since those disclosed in the Annual Report on Form 10-K - There have been no material changes from the risk factors previously disclosed in the company's Annual Report on Form 10-K[135](index=135&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=26&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) As of July 31, 2022, the company had no authorized share repurchase programs - As of July 31, 2022, the company had no authorized share repurchase programs[136](index=136&type=chunk) [Item 6. Exhibits](index=27&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including a Cooperation Agreement, officer certifications, and XBRL documents - Key exhibits filed include the Cooperation Agreement with the Engine Group, CEO and CFO certifications (Rule 13a-14(a)/15d-14(a) and Section 1350), and XBRL data files[138](index=138&type=chunk)[139](index=139&type=chunk)[140](index=140&type=chunk)

American Outdoor Brands, Inc. (NASDAQ:AOUT) Q4 2022 Earnings Conference Call July 14, 2022 5:00 PM ET Company Participants Liz Sharp - VP, IR Brian Murphy - President & CEO Andy Fulmer - CFO Conference Call Participants Mark Smith - Lake Street Capital Markets Operator Welcome to the Fourth Quarter and Full Fiscal Year 2022 American Outdoor Brands Earnings Conference Call. My name is Vanessa and I will be your operator for today's call. At this time, all participants are in a listen-only mode. Later, we wil ...

American Outdoor Brands, Inc. (NASDAQ:AOUT) Q3 2022 Earnings Conference Call March 10, 2022 5:00 PM ET Company Participants Liz Sharp - VP, IR Brian Murphy - President and CEO Andrew Fulmer - CFO Conference Call Participants Ryan Meyers - Lake Street Capital Markets Scott Stember - CL King Operator Good day everyone, and welcome to American Outdoor Brands Inc. Third Quarter Fiscal 2022 Financial Results Conference Call. This call is being recorded. At this time, I would like to turn the call over to Liz Sha ...