GrabAGun Digital Holdings Inc.
11/13/2025 | Press release | Distributed by Public on 11/13/2025 15:04
GrabAGun Digital Holdings Reports Third Quarter 2025 Financial Results (Form 8-K)
GrabAGun Digital Holdings Reports Third Quarter 2025 Financial Results
GrabAGun Achieved Quarterly Revenues of $22.3 million, a 10% Increase Year-Over-Year
Firearms Sales Increased 12% Year-Over-Year to $18.1 million, Driven by 16% Volume Growth
Company Continues to Outperform Industry, Reflecting Strength of Digital Platform
Coppell, Texas - November 13, 2025 - GrabAGun Digital Holdings Inc. ("GrabAGun" or the "Company") (NYSE:PEW), an online retailer of firearms, ammunition and related accessories, today reported third quarter 2025 financial results for the three and nine months ended September 30, 2025.
Marc Nemati, Chief Executive Officer of GrabAGun, commented, "We delivered another exceptional quarter that demonstrates the strength of our business model and our unwavering commitment to defending Americans' Second Amendment rights. Our Q3 performance reflects not only strong operational execution but also our mission to serve the growing community of Americans who value their constitutional freedoms including lawful access to a broad assortment of high-quality firearms and accessories."
Nemati continued, "Our third quarter strength was driven by robust customer growth year-over-year and increased average order. We continue to significantly outperform Adjusted NICS1 background checks, with our volume of firearms sales increasing 16% year-over-year compared to Adjusted NICS down 5.3%. This demonstrates the competitive advantages of our frictionless eCommerce platform that provides unmatched convenience and selection. We are also strongly encouraged by the trend towards younger demographics of firearms buyers we're seeing, as evidenced by strength in mobile transactions and which aligns with our long-term marketing and growth strategies."
"With over $109 million in cash and no debt, we remain well positioned heading into the fourth quarter and the holiday season. Demand across our core categories remains steady, supported by strong customer engagement on our platform. We're continuing to invest in the business, advancing our technology, expanding our supplier relationships, and strengthening our customer experience. Our focus remains on building scale, driving operational efficiency, and creating lasting value for our shareholders."
Third Quarter Financial Highlights
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Net revenue was $22.3 million, up 10% year-over-year, compared to $20.2 million in the prior year quarter.
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Firearms sales increased 12% to $18.1 million, reflecting volume growth of 16%.
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Non-firearms sales increased by 3% to $4.2 million compared to $4.1 million in the prior year quarter.
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Gross profit margin of 11%, an approximate 200 basis point increase compared with a 9% gross profit margin in the prior year quarter.
1 Adjusted NICS background checks refer to data from the National Instant Criminal Background Check System (NICS) that has been modified by the National Shooting Sports Foundation (NSSF) to exclude checks related to concealed carry permits and permit rechecks. This adjusted data is often used to provide a clearer picture of the firearms market, as the NICS system includes a significant number of checks for permit applications that do not directly correspond to a new firearm sale.
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Loss from operations was $4.2 million compared to income from operations of $0.5 million in the prior year quarter, primarily due to $3.2 million of stock-based compensation expense as well as other legal and accounting expenses tied to the business combination transaction that resulted in the Company's public listing on the NYSE (the "Business Combination").
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Net loss was $3.3 million compared to net income of $0.6 million in the prior year quarter, reflecting the aforementioned stock-based compensation and expenses related to the Company's public listing.
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Adjusted EBITDA2 was a $0.3 million loss, a decline of $0.9 million over the prior year quarter.
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Cash and cash equivalents of $109.5 million, or $3.65 per share, as of September 30, 2025.
Third Quarter Business Highlights
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Overall Customer Lifetime Value3 increased by 11% year-over-year.
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In Q3 2025, Mobile Sessions4 grew 13% year-over-year, and accounted for 67% of transactions and 64% of revenue, respectively (compared to 65% of transactions and 63% of revenue for the prior year quarter), demonstrating a meaningful shift in channel mix that aligns with the Company's mobile-first strategy.
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Company performance significantly outpaced industry as Adjusted NICS background checks declined 5.3% year-over-year during the third quarter, highlighting the competitive advantages of GrabAGun's frictionless eCommerce experience.
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Executed $8.9 million of share repurchases during the third quarter, with $11.1 million remaining of the Company's previously authorized $20.0 million share repurchase program, reflecting management's strong conviction in the Company's fundamentals and an efficient capital allocation strategy to maximize shareholder value.
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Completed dual listing on NYSE Texas while maintaining primary NYSE listing, emphasizing the Company's commitment to Texas's business-friendly environment.
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Launched Shoot and SubscribeTM, an ammunition subscription service providing significant savings and convenient recurring delivery options for customers.
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Welcomed Sina Azmoudeh as Chief Marketing Officer to elevate GrabAGun's brand presence and strengthen customer engagement as key growth drivers.
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Management continues to evaluate strategic acquisition opportunities across multiple attractive categories, including complementary eCommerce platforms, specialty retailers and technology solutions that could enhance the customer experience and expand market reach.
Third Quarter 2025 Conference Call and Webcast
Management will host a conference call at 4:30 PM ET today to discuss its third quarter 2025 results. The live webcast and replay will be accessible under the Events & Presentations section of the Company's Investor Relations website at investors.grabagun.com.
2 Adjusted EBITDA is a non-GAAP financial measure. See the supplementary schedules in this press release for a discussion of how the Company defines and calculates this measure and a reconciliation thereof to net income (loss), the most directly comparable GAAP measure.
3 Customer Lifetime Value is an estimate of the present value of revenue expected from each customer, including the first order plus projected repeat orders.
4 Mobile Session is a period of user interaction with an app or website, initiated when a user opens your app in the foreground or views a page on your website using a mobile device.
About GrabAGun
We are defenders. We are sportsmen. We are outdoorsmen. We believe that it is our American duty to help everyone, from first-time buyers to long-time enthusiasts, understand and legally secure their firearms and accessories. That's why our arsenal is fully packed, consistently refreshed, and always loaded with high-quality, affordable firearms and accessories. Industry-leading brands that GrabAGun works with include Smith & Wesson Brands, Sturm, Ruger & Co., SIG Sauer, Glock, Springfield Armory and Hornady Manufacturing, among others.
GrabAGun is a fast growing, digitally native eCommerce retailer of firearms and ammunition, related accessories and other outdoor enthusiast products. Building on its proprietary software expertise, GrabAGun's eCommerce site has become one of the leading firearm retail websites. In addition to its eCommerce excellence, GrabAGun has developed industry-leading solutions that transform supply chain management, combining dynamic inventory and order management with AI-powered pricing and demand forecasting. These advancements enable seamless logistics, efficient regulatory compliance and a streamlined experience for customers.
GrabAGun Digital Holdings Inc. published this content on November 13, 2025, and is solely responsible for the information contained herein. Distributed via Edgar on November 13, 2025 at 21:04 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]