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GlobeNewsWire
21 days ago
AXIL Brands, Inc. Reports Fiscal 2026 and Fourth Quarter Financial Results
LOS ANGELES, Aug. 18, 2026 (GLOBE NEWSWIRE) -- AXIL Brands, Inc. (“AXIL,” “we,” “us,” “our,” or the “Company”) (NYSE American: AXIL), an emerging global consumer products company for AXIL® hearing protection and enhancement products and Reviv3® hair and skin care products, and marketing services for third-party brands today announced financial and operational results for the fourth fiscal quarter ended May 31, 2026 (“Q4 2026”) and for the fiscal year ended May 31, 2026 (“fiscal 2026”). Financial Highlights for the Quarter Ended May 31, 2026 Net revenues increased 48.9% in Q4 2026 to a record $8.6 million, compared to $5.8 million in the prior year period Gross profit increased 53.3% in Q4 2026 to $6.2 million, compared to $4.0 million in the prior year period; gross margin expanded to 72.0% from 70.0% Income from operations in Q4 2026 was $1.4 million, compared to $46 thousand in the prior year period Net income in Q4 2026 was $1.5 million, or $0.21 per basic share and $0.18 per diluted share, compared to a loss of $0.2 million, or $0.04 loss per basic and diluted share in the prior year period Adjusted EBITDA in Q4 2026 was $1.7 million, or 20.3% of net revenues, compared to $0.4 million, or 6.1% of net revenues, in the prior year period Cash on hand as of May 31, 2026 was $4.5 million compared to $4.8 million as of May 31, 2025, with no outstanding borrowings Operational Highlights: Retail Expansion and Product Development Expanded Walmart partnership to include the MX PRO and MX Passive hearing protection models across approximately 1,250 store locations nationwide Introduced the GSX 3.0 and XCOR Pro products to Sportsman's Warehouse across approximately 70 specialty retail locations and its e-commerce platform Launched the MX II Series earmuffs powered by the Company's proprietary SonicShieldX™ technology, featuring advanced Bluetooth connectivity and automatic noise compression, with additional variants released in May 2026 Unveiled the AXIL CRX, an in-ear hearing protection solution with modular connectivity options, available beginning May 2026 The Company's full product line became available at U.S. Marine Corps Exchange (MCX) locations in the first quarter of fiscal 2027, extending its reach to military personnel, their families, and authorized patrons across mass, specialty, and military channels “The strength of our fourth quarter financial results was in-line with our expectations, and the represents execution of our growth plan, from strategic investments we have made across the business, from distribution, to product innovation and operational infrastructure,” said Jeff Toghraie, AXIL Chairman and Chief Executive Officer.
