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]
American Outdoor Brands(AOUT) - 2025 Q4 - Annual Results