American Outdoor Brands (NASDAQ: AOUT) is an outdoor products and accessories company that designs, sources, and markets gear across hunting, shooting sports, fishing, camping, and outdoor cooking categories. Revenue is transactional, generated through product sales across e-commerce and traditional brick-and-mortar distribution channels. The company was spun off from Smith & Wesson Brands on August 24, 2020, and is incorporated in Delaware with principal offices in Columbia, Missouri. Net sales were $222.3 million for the fiscal year ended April 30, 2025, up from $201.1 million in fiscal 2024 and $191.2 million in fiscal 2023. Gross profit was $99.3 million in fiscal 2025. Total assets stood at $246.4 million as of April 30, 2025. One customer, the world's largest e-commerce retailer, accounted for 20.3% of net sales in fiscal 2025. The company maintains approximately 50 product designers and engineers across five in-house development labs, releasing over 200 new products annually.

Revenue model

Transactional product sales through two channels: e-commerce (including the company's own websites and third-party retail websites) and traditional distribution (sporting goods stores, sports specialty stores, mass market, home and auto retailers, dealers, distributors, and original equipment manufacturers). Advertising and promotion expenses were $10.9 million in fiscal 2025.

Products and services

Rugged outdoor products across hunting, shooting sports, fishing, camping, and outdoor cooking. Named brands and products include Caldwell (Lead Sled 4 shooting rest, Claymore clay thrower), MEAT! Your Maker (vacuum sealers, sausage stuffers), and Grilla (Mammoth Vertical Pallet Smoker). Grilla was acquired in March 2022, providing entry into the outdoor cooking category.

Customers and end markets

End consumers participating in hunting, fishing, shooting sports, camping, and outdoor cooking. The single largest customer, identified as the world's largest e-commerce retailer, represented 20.3% of net sales in fiscal 2025 and 22.1% in fiscal 2024. Other customers include sporting goods stores, sports specialty retailers, mass market retailers, home and auto retailers, dealers, distributors, and original equipment manufacturers.

Value-chain role

Brand owner and product developer that conceives, designs, and either produces or sources finished goods, then markets and distributes through wholesale and direct e-commerce channels. Sourcing includes suppliers in China, Taiwan, Vietnam, the Philippines, and Myanmar. The company holds intellectual property on new product designs and operates five in-house product development labs.

Geographic exposure

Primarily United States. International sales exist but are not quantified in the excerpts. Finished products and components are sourced from suppliers in Asia and Europe, including China, Taiwan, Vietnam, the Philippines, and Myanmar. The company is subject to U.S. tariffs on a significant number of its products as of fiscal 2025.

Source: SEC 10-K, filed 2025-06-26

Industry: Sporting & Athletic Goods, NEC Peers: Outdoor Holding Company BOWFLEX INC. Escalade Inc Hasbro Inc JAKKS Pacific Inc Marine Products Corp Mastercraft Boat Holdings Inc Twin Vee PowerCats Co (Pre-Reincorporation)