GrabAGun Digital Holdings reported second-quarter 2026 revenue of $23.2 million, up 9.4% year-over-year and 4.0% above Street estimates, while gross margin expanded 290 basis points to 13.5%. Gross profit rose 39.4% to $3.1 million, driven by AI pricing, favorable mix, and initial PEW Logistics contribution, even as unit volumes declined. PEW Logistics reached $1.9 million in cumulative GMV and added suppressor maker Backwoods Suppressors as its third manufacturer. The company posted a net loss of $1.8 million versus net income of $0.8 million a year earlier, reflecting higher public-company and growth spending, but management expects G&A to moderate from 3Q26. With $97.5 million in cash against a market cap of about $75.3 million, PEW trades at 0.71x NTM sales and a negative enterprise value.
GrabAGun Digital Holdings Inc.Revenue beat and margin expansion, though net loss widened.
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Smith & Wesson Brands IncAdded as third manufacturer to PEW Logistics, contributing to GMV.
