10-Q · May 13, 2026
GrabAGun Digital Holdings Inc. (PEW) reported Q1 2026 revenues of $25.9 million, representing an 11.1% increase year-over-year, alongside a net loss of $1.8 million, slightly improving compared to a loss of $1.93…
Earnings analysis · 10-Q
PEW earnings analysis
Filed August 13, 2026 · Our reading of the company's report
The latest report
GrabAGun reported a second-quarter revenue and EPS beat, with revenue of $23.217 million and a $0.06 per-share loss, while gross margin improved to 13.5%. However, the company remained unprofitable, recording a $2.573…
Read full summary
GrabAGun reported a second-quarter revenue and EPS beat, with revenue of $23.217 million and a $0.06 per-share loss, while gross margin improved to 13.5%. However, the company remained unprofitable, recording a $2.573 million operating loss and negative six-month operating cash flow of $8.348 million. Internal control weaknesses remained unresolved as of June 30, 2026, and the 10-Q provided no new quantitative guidance.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.06
What stood out
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Revenue exceeded consensus
Second-quarter revenue was $23.217 million, exceeding the $22.7 million consensus estimate by approximately $0.517 million, or 2.3%.
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EPS beat estimates
Second-quarter EPS was a loss of $0.06 versus the estimated loss of $0.09, a $0.03 per-share beat.
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Gross margin expanded
Gross margin expanded to 13.5%, an improvement of 290 basis points versus the prior-year period.
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Repurchase capacity remains
The company retained approximately $8.7 million of availability under its 2025 share repurchase program as of June 30, 2026, and repurchased no shares during the quarter.
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Control remediation continues
Management continued remediation efforts during the quarter and engaged additional third-party experts to support control documentation and remediation during the remainder of fiscal 2026.
What to watch
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Operating losses remain substantial
The company reported a second-quarter operating loss of $2.573 million, equivalent to an operating margin of approximately negative 11.1% on $23.217 million of revenue.
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Negative operating cash flow
Operating cash flow was negative $8.348 million for the six months ended June 30, 2026, indicating continued cash consumption despite the quarterly revenue beat.
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Material control weaknesses persist
As of June 30, 2026, management concluded that disclosure controls were not effective at a reasonable assurance level because of material weaknesses involving insufficient personnel, IT and systems control design, and segregation of duties.
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No risk-factor improvement disclosed
The filing states there were no material changes to the risk factors disclosed in the December 31, 2025 Form 10-K, limiting evidence of risk-factor improvement in this quarter.
Management's outlook
The 10-Q provides no new quantitative revenue or EPS guidance. The previously cited fiscal-year revenue outlook was $110 million-$115 million.
Earlier filings 2
10-K · March 12, 2026
GrabAGun reports modest top-line growth to approximately $96.4M in 2025 (from $93.1M in 2024) while swinging to a net loss of approximately $2.5M in 2025 (net income ≈ $4.5M in 2024). The company emphasizes a tech-first…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.