PEW earnings analysis
What we found in PEW's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
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.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- 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%.
- 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.
- Gross margin expanded
- Gross margin expanded to 13.5%, an improvement of 290 basis points versus the prior-year period.
- 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.
- 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.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- 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.
- 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.
- 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.
- 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.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.06
- Gross margin
- 13.5%
- Operating margin
- -11.1%
What they said about what is next.
The 10-Q provides no new quantitative revenue or EPS guidance. The previously cited fiscal-year revenue outlook was $110 million-$115 million.
The filing reads about the same as the one before it.
What came before.
- 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…
- 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. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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