Financial Performance - Revenue for the second quarter ended November 30, 2024, was $7.7 million, a decrease from $8.4 million in the prior year period [8] - Gross profit as a percentage of sales was 71.1% in 2Q25, down from 74.3% in the prior year period [8] - Operating expenses as a percentage of sales increased to 62.4% in 2Q25 from 59.3% in the prior year period [8] - Net income for 2Q25 was $0.6 million, compared to $1.0 million in the prior year period [8] - Adjusted EBITDA for 2Q25 was $1.0 million, down from $1.4 million in the prior year period [8] Operational Strategy - The company is diversifying its distribution strategy for hearing protection and enhancement products beyond online sales, establishing relationships with international distributors [4] - AXIL is making significant inroads into the retail channel, with products available in over 1,000 retail locations, including Bass Pro Shops and select Walmart stores [5] - Plans to launch a successor series to the TRACKR earmuffs in the first half of calendar year 2025, focusing on technological leadership and improved product functionality [6] Financial Position - The company reported a solid cash position of $5.2 million at the end of 2Q25, allowing for internal financing of strategic growth plans [7] - Net cash provided by operating activities for the six months ended November 30, 2024, was $1.9 million, compared to $1.3 million for the prior year period [8] Market Presence - AXIL Brands operates in the United States, Canada, the European Union, and throughout Asia, focusing on premium hearing enhancement and protection products as well as hair and skincare products [18]
AXIL Brands Reports Second Quarter Fiscal Year 2025 Financial Results