AOUTNasdaqSporting & Athletic Goods, NECUS GAAP · USD

American Outdoor Brands, Inc.

American Outdoor Brands, Inc. designs, sources, manufactures, and sells products for outdoor recreation, hunting, shooting sports, and personal security. Its portfolio spans outdoor lifestyle brands such as BUBBA, SCHRADE, Grilla Grills, UST, BOG, Hooyman, Old Timer, and MEAT your maker, alongside shooting accessories and firearm-related accessories under brands such as Caldwell, Frankford Arsenal, Wheeler, Tipton, Crimson Trace, Lockdown, and LaserLyte. The company sells through e-commerce and traditional retail channels, with a meaningful direct-to-consumer presence through its own websites. It manufactures some electro-optics in Columbia, Missouri, while most products are contract manufactured and assembled by third parties in Asia.

Revenue191m USD
−14.3 %y/y
Operating profit (EBIT)-9.0m USD
−5,744.2 %y/y
EBIT margin-4.7%
−4.7 ppy/y
Net income-9.2m USD
−11,858.4 %y/y
Free cash flow4.3m USD
+338.0 %y/y

Fiscal year 2026 · change from previous year

Development 2021–2026

-1000100200300m USD2021: 277 m USD2021: EBIT 23 m USD20212022: 248 m USD2022: EBIT -57 m USD20222023: 191 m USD2023: EBIT -13 m USD20232024: 201 m USD2024: EBIT -12 m USD20242025: 222 m USD2025: EBIT -0.15 m USD20252026: 191 m USD2026: EBIT -9.0 m USD2026191-9.0
RevenueOperating profit (EBIT)

Business

Share of revenue
Outdoor lifestyle products55 %

Knives, tools, land management products, hunting gear, cooking equipment, and camping/survival products sold under brands such as BUBBA, SCHRADE, Grilla, UST, BOG, Hooyman, Old Timer, and MEAT your maker.

Shooting sports accessories30 %

Rests, vaults, reloading tools, gunsmithing supplies, firearm cleaning products, and personal protection accessories sold to shooting and firearm-related consumers.

Electro-optics and aiming products15 %

Hunting optics, firearm aiming devices, flashlights, laser grips, and related electro-optical products, including some manufactured in Columbia, Missouri.

Products

Reported · share of revenue
58.0%42.0%FY2026100 %
  • Outdoor Lifestyle Net Sales58.0 %
  • Shooting Sports Net Sales42.0 %

Source: 10-K FY2026, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.

Customers

The company sells to both e-commerce customers and traditional brick-and-mortar retail channels, which means its end demand comes from consumers who buy through online marketplaces, dealer websites, and physical stores. Its products are aimed at rugged outdoor enthusiasts, hunters, anglers, campers, shooting sports participants, and consumers seeking personal security and defense products. Traditional channel customers include sports specialty stores, sporting goods stores, dealers and distributors, mass market retailers, home and auto retailers, and OEMs that buy for resale or integration. A large e-commerce retailer accounted for a significant share of net sales, showing that platform concentration is an important part of the customer mix. The company also uses its own websites to support direct-to-consumer sales, brand marketing, and customer engagement.

E-commerce marketplaces and online retailers

Buy branded outdoor and shooting products for resale to consumers online, with demand driven by digital visibility, pricing, and product reviews.

Traditional sporting goods and specialty retail

Buy inventory for physical stores, where in-store displays, promotions, and dealer relationships help move hunting, shooting, and outdoor lifestyle products.

Direct-to-consumer shoppers

Purchase through the company’s own websites for brand-specific products, accessories, and new launches, supporting margin and customer data collection.

Dealers, distributors, and mass market retailers

Buy in bulk for broad retail distribution and are important for scale, shelf presence, and seasonal sell-through.

OEM and channel partners

Buy products for integration or resale, adding reach beyond the company’s own branded storefronts.

Strategy

The company’s strategy is centered on launching a steady stream of differentiated outdoor and shooting products that solve consumer pain points and support brand loyalty. It aims to use innovation to enter adjacent categories, expand distribution, and grow share across both e-commerce and traditional retail channels. Management also emphasizes digital consumer relationships, which are important because online channels influence discovery, repeat purchase, and direct-to-consumer economics. Another priority is to diversify the supply chain and maintain an asset-light model, which should improve flexibility in a volatile demand and tariff environment. Acquisitions remain part of the playbook when they fit the brand and operating model.

New product innovationShort term

The company depends on a continuing stream of new products to drive consumer interest, shelf space, and repeat purchases across its brands.

Channel expansion and digital engagementMedium term

E-commerce and direct-to-consumer channels help the company reach consumers directly and reduce dependence on any single retail partner.

Supply chain diversificationMedium term

A broader sourcing base can reduce disruption, tariff exposure, and dependence on any single manufacturing geography.

Selective acquisitionsLong term

Acquisitions can add brands, categories, and distribution leverage if they fit the company’s operating model.

Geography

Q1/2026

American Outdoor Brands sells products worldwide, but its revenue base is still heavily domestic. In fiscal 2025, domestic net sales were $207.8 million versus $14.5 million internationally, indicating that the U.S. market is the core demand center. The company manufactures some electro-optics in Columbia, Missouri, while most products are sourced, manufactured, and assembled by third parties in Asia, creating a geographically distributed supply chain. International sales are smaller but still important for brand reach and diversification, and the company also participates in trade shows in Europe and other markets. This geography mix means performance is sensitive to U.S. consumer demand, import logistics, and tariff exposure on Asia-sourced inventory.

United States96 %
Other countries (US filing)4.1 %

Share of the revenue the company reports by geography.

Risks

The business is exposed to demand volatility because many products are discretionary and tied to hunting, shooting, and outdoor activity trends. A substantial portion of production is outsourced, so supply interruptions, component shortages, tariff changes, and freight disruptions can quickly affect fill rates and margins. The company also relies on a small number of large customers, including a major e-commerce retailer, which creates concentration risk and pricing pressure in online marketplaces. Competition is intense and barriers to entry are limited, so brand reputation, product innovation, and channel execution are critical to maintaining share. Seasonal inventory build, product launch timing, and consumer spending sensitivity can also create quarter-to-quarter volatility in revenue, working capital, and cash flow.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Tariff and import cost inflation1Customer concentration2Outsourced manufacturing and supply chain disruption3Demand and product launch execution4Competitive pricing pressure in e-commerce5
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Tariff and import cost inflationImpact: HighLikelihood: High

    Tariffs on inventory purchases for products manufactured in China can increase inventory cost and reduce gross margin if not passed through.

    Exposure: China-sourced inventory

  2. Customer concentrationImpact: HighLikelihood: Medium

    A large share of revenue depends on a small number of customers, including a major e-commerce retailer, so lost volume or pricing changes could materially affect sales.

    Exposure: Large online retailer and major channel partners

  3. Outsourced manufacturing and supply chain disruptionImpact: HighLikelihood: Medium

    Most products are manufactured and assembled by third parties in Asia, so delays, quality issues, or geopolitical disruptions can interrupt supply.

    Exposure: Asia sourcing and contract manufacturing

  4. Demand and product launch executionImpact: MediumLikelihood: Medium

    The company must keep introducing successful products, and weak launches can leave inventory and marketing spend unrecovered.

    Exposure: Outdoor lifestyle and shooting sports categories

  5. Competitive pricing pressure in e-commerceImpact: MediumLikelihood: Medium

    Retailers and marketplaces can influence pricing, which can compress margins and reduce brand control online.

    Exposure: E-commerce channel

Accounting

Judgemental items
Revenue recognition and channel timing

Sales are product-based and can vary with shipment timing, retailer ordering patterns, and e-commerce sell-through, affecting quarterly comparability.

Impact: Quarterly revenue volatility

Inventory valuation and obsolescence

The company builds inventory ahead of seasonal demand and new launches, so excess or slow-moving stock can require write-downs.

Impact: Gross margin and working capital

Tariff capitalization in inventory

Tariffs on China-manufactured products are included in inventory costs, which affects when margin pressure is recognized.

Impact: Cost of goods sold and margin timing

Accrued liabilities and incentive compensation

Timing of payroll accruals, annual incentives, and freight accruals can materially affect operating cash flow and period expenses.

Impact: Operating expenses and cash flow

Goodwill and intangible asset impairment

Brand-heavy acquisitions require periodic assessment if sales or margins deteriorate.

Impact: Non-cash impairment charges

Publicly listed companies with a comparable business focus.

Last updated: 24/09/2026

American Outdoor Brands, Inc. (AOUT) Revenue, Earnings & Financials 2026 – Clarifo