SEGMENTS

9 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

SEGMENTS

NOTE 15 – SEGMENTS

Our Chief Executive Officer reviews financial performance based on our two operating segments as follows:

● Ammunition – which consists of our manufacturing business. The Ammunition segment engages in the design, production and marketing of ammunition and ammunition component products.

● Marketplace – which consists of the GunBroker.com marketplace. In its role as an auction site, GunBroker.com supports the lawful sale of firearms, ammunition and hunting/shooting accessories.

The reporting of the separate allocation of certain corporate general and administrative expenses includes non-cash stock compensation expense. The following tables set forth certain financial information utilized by management to evaluate our operating segments for the interim period presented:

	For the Three Months Ended December 31, 2023
	Ammunition			Marketplace		Corporate and other expenses			Total
Net Revenues	$	22,021,430		$	13,985,034	$	-		$	36,006,464
Cost of Revenues		23,022,304			2,073,784		-			25,096,088
General and administrative expense		1,305,721			2,454,695		5,669,557			9,429,973
Depreciation and amortization		125,012			3,276,144		-			3,401,156
Income/(Loss) from Operations	$	(2,431,607	)	$	6,180,411	$	(5,669,557	)	$	(1,920,753	)

	For the Nine Months Ended December 31, 2023
	Ammunition			Marketplace		Corporate and other expenses			Total
Net Revenues	$	64,261,473		$	40,371,952	$	-		$	104,633,425
Cost of Revenues		65,672,676			5,737,567		-			71,410,243
General and administrative expense		6,694,699			7,204,547		21,625,762			35,525,008
Depreciation and amortization		384,021			9,732,980		-			10,117,001
Income/(Loss) from Operations	$	(8,489,923	)	$	17,696,858	$	(21,625,762	)	$	(12,418,827	)

	For the Three Months Ended December 31, 2022
	Ammunition			Marketplace		Corporate and other expenses			Total
Net Revenues	$	23,292,292		$	15,419,202	$	-		$	38,711,494
Cost of Revenues		23,865,275			2,319,040		-			26,184,315
General and administrative expense		4,838,081			1,719,707		6,993,592			13,551,380
Depreciation and amortization		143,378			3,165,696		-			3,309,074
Income/(Loss) from Operations	$	(5,554,442	)	$	8,214,759	$	(6,993,592	)	$	(4,333,275	)

AMMO, Inc.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

	For the Nine Months Ended December 31, 2022
	Ammunition			Marketplace		Corporate and other expenses			Total
Net Revenues	$	101,269,237		$	46,486,842	$	-		$	147,756,079
Cost of Revenues		97,555,732			6,701,797		-			104,257,529
General and administrative expense		12,117,828			6,713,561		14,490,456			33,321,845
Depreciation and amortization		437,694			9,513,058		-			9,950,752
Income/(Loss) from Operations	$	(8,842,017	)	$	23,558,426	$	(14,490,456	)	$	225,953