American Outdoor Brands Files 10-Q for Q3 FY2024

TL;DR

<b>American Outdoor Brands filed its Q3 FY2024 10-Q, detailing sales segments and equity information.</b>

AI Summary

American Outdoor Brands, Inc. (AOUT) filed a Quarterly Report (10-Q) with the SEC on March 7, 2024. Filing is a 10-Q for the period ending January 31, 2024. The company's fiscal year ends on April 30. The filing includes data related to Shooting Sports Net Sales, Outdoor Lifestyle Net Sales, and Traditional Channels Net Sales. Information on Cost of Sales and Operating Expenses is provided. Details on various stock and equity components, including Restricted Stock Units and Performance Stock Units, are present.

Why It Matters

For investors and stakeholders tracking American Outdoor Brands, Inc., this filing contains several important signals. This filing provides investors with the latest financial performance data for American Outdoor Brands, crucial for assessing the company's operational health and strategic direction. The inclusion of specific sales segment data allows for a deeper understanding of which business areas are driving revenue and potential growth opportunities or challenges.

Risk Assessment

Risk Level: low — American Outdoor Brands, Inc. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant new financial data or strategic shifts that would indicate high risk.

Analyst Insight

Monitor future filings for detailed financial results and management commentary on segment performance and strategic initiatives.

Revenue Breakdown

Key Numbers

• 2024-01-31 — Reporting Period End Date (Conformed period of report)
• 2024-03-07 — Filing Date (Date the 10-Q was filed)
• 0430 — Fiscal Year End (Company's fiscal year end)
• Q3 2024 — Fiscal Quarter (Indicates the quarter being reported)

Key Players & Entities

• American Outdoor Brands, Inc. (company) — Filer and subject of the report
• 0000950170-24-027969 (other) — Accession number for the filing
• 20240131 (date) — Conformed period of report
• 20240307 (date) — Filing date
• 0001808997 (company) — Central Index Key for American Outdoor Brands, Inc.
• DE (other) — State of incorporation
• 0430 (date) — Fiscal year end
• 10-Q (other) — Form type

FAQ

Risk Factors

• Financial Performance [medium — financial]: The company's financial results are subject to market demand, competition, and economic conditions.
• Market Conditions [medium — market]: Changes in consumer spending and preferences in the outdoor and shooting sports markets can impact sales.
• Supply Chain and Operations [medium — operational]: Disruptions in the supply chain or operational inefficiencies could affect product availability and costs.

Key Dates

• 2024-01-31: Quarter End — End of the reporting period for the 10-Q filing.
• 2024-03-07: Filing Date — Date the 10-Q was officially submitted to the SEC.

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 per share AOUT Nasdaq Global Select
• $0 — 7,311 shares of common stock, par value $0.001, outstanding as of February 29, 202
• $75 million — ailable borrowings through our existing $75 million credit facility; our expectation that

Filing Documents

• aout-20240131.htm (10-Q) — 1868KB
• aout-ex31_1.htm (EX-31.1) — 15KB
• aout-ex31_2.htm (EX-31.2) — 15KB
• aout-ex32_1.htm (EX-32.1) — 9KB
• aout-ex32_2.htm (EX-32.2) — 10KB
• img15476639_0.jpg (GRAPHIC) — 22KB
• 0000950170-24-027969.txt (&nbsp;) — 7637KB
• aout-20240131.xsd (EX-101.SCH) — 1112KB
• aout-20240131_htm.xml (XML) — 1328KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) 5

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 21

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 28

Controls and Procedures

Item 4. Controls and Procedures 28

- OTHER INFORMATION

PART II - OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 29

Risk Factors

Item 1A. Risk Factors 29

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 29

Other Information

Item 5. Other Information 29

Exhibits

Item 6. Exhibits 30

Signatures

Signatures 31 Accumax, BOG, BUBBA, Caldwell, Deadshot, Deathgrip, Delta Series, E-MAX, F.A.T. Wrench, Fieldpod, Frankford Arsenal, Golden Rod, Hooyman, Imperial, Intellidropper, Lead Sled, Lockdown, Mag Charger, Old Timer, Schrade, Sharpfinger, Tipton, Grilla, Grilla Grills, Uncle Henry, ust, Wheeler, XLA Bipod, Crimson Trace, Lasergrips, Laserguard, LaserLyte, Lasersaddle, Lightguard, and Rail Master are some of the registered U.S. trademarks of our company or one of our subsidiaries. AOB Products Company, Dock and Unlock , Don't Be Outdoorsy – Be Outdoors, Engineered for the Unknown, From Niche to Known, Lockdown Puck, MEAT!, MEAT Your Maker!, Secure Your Lifestyle, The Ultimate Lifestyle, Unmatched Accuracy at the Bench and in the Field, Water to Plate, and Your Land. Your Legacy are some of the unregistered trademarks of our company or one of our subsidiaries. Trademarks licensed to us by Smith & Wesson Brands, Inc. in connection with the manufacture, distribution, marketing, advertising, promotion, merchandising, shipping, and sale of certain licensed accessory product categories include M&P, Performance Center, Smith & Wesson, and T/C, among others. This report also may contain trademarks and trade names of other companies. Statement Regarding Forward-Looking Information The statements contained in this Quarterly Report on Form 10-Q that are not historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. All statements other than statements of historical facts contained or incorporated herein by reference in this Quarterly Report on Form 10-Q, including statements regarding our future operating results, future financial position, business strategy, objectives, goals, plans, prospects, markets, and plans and objectives for future operations, are forward-looking statements. In some cases, you can identify for

Financi al Statements

Item 1. Financi al Statements AMERICAN OUTDOOR BRANDS, INC. AND SUBSIDIARIES CONDENSED CO NSOLIDATED BALANCE SHEETS As of: January 31, 2024 (Unaudited) April 30, 2023 (In thousands, except par value and share data) ASSETS Current assets: Cash and cash equivalents $ 15,890 $ 21,950 Accounts receivable, net of allowance for credit losses of $ 133 on January 31, 2024 and $ 125 on April 30, 2023 27,220 26,846 Inventories 100,016 99,734 Prepaid expenses and other current assets 6,564 7,839 Income tax receivable 246 1,251 Total current assets 149,936 157,620 Property, plant, and equipment, net 11,437 9,488 Intangible assets, net 43,273 52,021 Right-of-use assets 33,978 24,198 Other assets 455 260 Total assets $ 239,079 $ 243,587 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 9,245 $ 11,544 Accrued expenses 9,445 8,741 Accrued payroll and incentives 3,018 1,813 Lease liabilities, current 1,303 904 Total current liabilities 23,011 23,002 Notes and loans payable — 4,623 Lease liabilities, net of current portion 33,642 24,064 Other non-current liabilities — 34 Total liabilities 56,653 51,723 Commitments and contingencies (Note 11) Equity: Preferred stock, $ 0.001 par value, 20,000,000 shares authorized, no shares issued or outstanding — — Common stock, $ 0.001 par value, 100,000,000 shares authorized, 14,627,170 shares issued and 12,778,097 shares outstanding on January 31, 2024 and 14,447,149 shares issued and 13,233,151 shares outstanding on April 30, 2023 15 14 Additional paid in capital 275,841 272,784 Retained deficit ( 69,321 ) ( 62,375 ) Treasury stock, at cost ( 1,849,073 shares on January 31, 2024 and 1,213,998 shares on April 30, 2023) ( 24,109 ) ( 18,559 ) Total equity 182,426 191,864 Total liabilities and equity $ 239,079 $ 243,587 See ac