The revenue beat vs industry trends is positive, but the GAAP net loss and negative Adjusted EBITDA signal that public company costs are overwhelming operating leverage. Monitor the next quarter for whether PEW Logistics revenue scales enough to absorb fixed costs. The $106M cash cushion provides a multi-year runway, but the deteriorating profitability trend warrants caution until operating expenses stabilize.
Price Chart
Executive Summary
GrabAGun Digital Holdings reported Q1 2026 revenue of $25.9M (+11.1% YoY), driven by 10.5% firearms sales growth that significantly outpaced the 1.6% industry increase. However, the company swung to a net loss of $1.8M from a $0.1M profit a year ago, as operating expenses more than doubled due to stock-based compensation and public company costs, while Adjusted EBITDA turned negative at -$2.0M. The launch of PEW Logistics provides a new B2B revenue stream but has not yet offset the profitability deterioration.
Key Financial Metrics
Key Facts
- Net revenue $25.9M, up 11.1% YoY from $23.3M
- Net loss of $1.8M vs net income of $0.1M in prior-year quarter
- Loss from operations of $2.6M vs income from operations of $42K
- Adjusted EBITDA loss of $2.0M vs income of $0.5M
- Gross margin improved to 10.7% from 9.6%
- Cash and equivalents $106.4M, down from $110.4M at year-end 2025
- Launched PEW Logistics white-label fulfillment for firearms manufacturers with two partners onboarded
- Executed $2.4M in share repurchases during Q1
- Long-term debt increased to $7.8M from $6.9M
Financial Impact
Revenue grew $2.6M YoY but net income swung from +$0.1M to -$1.8M, a $1.9M deterioration. Adjusted EBITDA swung from +$0.5M to -$2.0M, a $2.5M decline.
Risk Factors
- Operating expenses more than doubled YoY, driven by stock-based compensation and public company costs
- Adjusted EBITDA turned negative for the first time as a public company
- Cash burn of $3.97M in Q1, with operating cash flow negative at -$1.66M
- Long-term debt increased to $7.8M, adding financial leverage
Market Snapshot
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-221667 |
| Document: pew-20260513.htm | 0001193125-26-221667 |
| Document: 0001193125-26-221667-index-headers.html | 0001193125-26-221667 |
| Document: 0001193125-26-221667-index.html | 0001193125-26-221667 |
| Document: 0001193125-26-221667.txt | 0001193125-26-221667 |
| 8-K Data (Synthetic) | 0001193125-26-221667 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 27, 2026 today | 8-K | $1.97 | awaiting T+20 | — | $2.01 (+2.03%) |
May 13, 2026 23w ago | 8-K | — | awaiting T+20 | — | — |
Apr 16, 2026 27w ago | Insider Cluster | $2.97 $3.10 | ▲ +4.38% | ▼ −1.44% | $2.01 (−32.32%) |
US Market Status
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