Company Overview & Strategy - American Outdoor Brands (AOB) leverages innovation to widen distribution, expand brand awareness, and increase profitability [11] - AOB operates in two categories: Outdoor Lifestyle ($118.1 million TTM net sales) and Shooting Sports ($89.3 million TTM net sales) [14] - The company targets resilient consumer activities with approximately 175 million Americans participating in outdoor recreation [15] - AOB aims for $400 million in future net sales, approximately 2x larger than current sales, driven by innovation and new customers [60] Financial Performance & Model - In Q2 FY26, new products accounted for 31.4% of net sales [74] - The company's operating model is highly accretive, with a track record of delivering incremental margin on revenue growth above $200 million in net sales [61] - AOB expects EBITDA to exceed $70 million at $400 million in net sales [61] - The company has a debt-free balance sheet with $3.1 million cash on hand as of October 31, 2025 [67] Innovation & Growth - AOB's innovation platform has yielded $93 million+ of incremental organic revenue compared to five years ago [46] - The company has secured 170 new patents, protecting future revenue potential [46] - MEAT! Your Maker brand reached $18.4 million in fiscal 2025 sales, up 33% year-over-year [42]

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]