Govt launches online shop with SA products
The customer-facing platform, Shop Proudly SA, is live, and its storefront offers over 1 700 locally made products in numerous categories, ranging from groceries to fashion, furniture, and health and beauty.
It also includes an 'over-the-counter' category with locally sourced supplements ranging from sinus support to sexual wellness.
Both platforms are meant to support small, medium and micro enterprises (SMMEs) and local entrepreneurs. The business-to-business platform, dubbed Market Access Platform or MAP, is meant to help corporate buyers find local suppliers.
Proudly SA CEO Eustace Mashimbye said large corporates had expressed difficulty in getting access to locally made goods.
MAP's database will make it easier to meet localisation targets, said Minister of Trade, Industry, and Competition Parks Tau.
Meanwhile, the online shop aims to connect shoppers with quality, locally made products.
The official launch of both platforms is set for 1 July, with Tau scheduled to preside over the proceedings.
More information will be revealed at the launch, said a Proudly SA spokesperson.
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"Our revenue growth, combined with disciplined cost management and positive operating income, reflects the strength of our business model and our team's execution." Nemati continued, "The completion of our public listing in July represents a transformational milestone that validates the strength of our business model and the unwavering support of our new shareholders for Second Amendment principles. This transaction solidified our balance sheet with over $120 million in cash, allowing the company to pursue strategic acquisitions across the approximately $25+ billion firearms and ammunition industry and adjacent categories to drive growth beyond organic performance, targeting opportunities that enhance revenue, market share, margins, and customer acquisition while expanding technological capabilities." Second Quarter Financial Highlights Net revenue for the quarter ended June 30, 2025 was $21.2 million compared to $20.4 million for Q2 2024, representing 4% growth year-over-year Firearm sales increased 11% to $17.8 million, reflecting volume growth of 16% Non-firearm sales totaled $3.4 million for Q2 2025 compared to $4.3 million for Q2 2024 Gross profit margin of 10% for Q2 2025, flat with Q2 2024 Income from operations was $0.6 million for Q2 2025 compared to $0.7 million for Q2 2024 Net income was $0.6 million for Q2 2025 compared to $0.9 million for Q2 2024 Adjusted EBITDA1 was $0.8 million for Q2 2025 compared to $1.0 million for Q2 2024 Second Quarter Business Highlights Average Order Value2 in the second quarter was $453, up 16% year-over-year from $392, and up 7% sequentially from $423 in the first quarter of 2025. 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Announced partnership with Compatio AI to launch industry-first digital product customization tool, enabling customers to customize products such as modern sporting rifles across a wide range of brands, technical specifications, and inventory options. This digital solution is designed to elevate the customer experience, boost engagement, and drive sales among Millennial and Gen Z buyers. Authorized $20 million share repurchase program, reflecting management's strong conviction in the Company's fundamentals and an efficient capital allocation strategy to maximize shareholder value. Second Quarter 2025 Conference Call and Webcast Management will host a conference call at 4:30 PM ET today to discuss its second quarter 2025 results. The live webcast and replay will be accessible under the Events & Presentations section of the Company's Investor Relations website at METROPLEX TRADING COMPANY LLC (dba SHEETS(IN THOUSANDS) June 30, December 31, 2025 2024 (Unaudited) Assets Current assets: Cash and cash equivalents $ 4,642 $ 7,887 Inventory, net 5,826 4,771 Deferred transaction costs 1,675 252 Prepaid expenses and other current assets 414 582 Total current assets 12,557 13,492 Capitalized software, net 463 404 Property and equipment, net 27 28 Operating lease right-of-use asset 152 263 Other assets 90 44 Total assets $ 13,289 $ 14,231 Liabilities and Members' Capital Current liabilities: Accounts payable $ 10,067 $ 8,687 Operating lease liability, current 160 233 Accrued expenses and other current liabilities 664 1,079 Unearned revenue 1,773 2,274 Total current liabilities 12,664 12,273 Operating lease liability, non-current — 41 Total liabilities 12,664 12,314 Commitments and Contingencies Members' Capital: Members' capital (100 Units outstanding) 625 1,917 Total members' capital 625 1,917 Total liabilities and members' capital $ 13,289 $ 14,231 METROPLEX TRADING COMPANY LLC (dba OF OPERATIONS (Unaudited)(IN THOUSANDS, EXCEPT UNIT AND PER UNIT AMOUNTS) For the Three Months EndedJune 30, For the Six Months EndedJune 30, 2025 2024 2025 2024 Net revenues $ 21,228 $ 20,391 $ 44,559 $ 46,991 Cost of goods sold 19,178 18,331 40,246 42,840 Gross profit 2,050 2,060 4,313 4,151 Operating expenses: Sales and marketing 122 122 262 274 General and administrative 1,339 1,225 3,397 2,477 Total operating expenses 1,461 1,347 3,659 2,751 Income from operations 589 713 654 1,400 Other income: Other income, net 41 167 94 240 Total other income 41 167 94 240 Net income $ 630 $ 880 $ 748 $ 1,640 Weighted average participating membership interest units, basic and diluted 100 100 100 100 Net income per participating membership interest unit, basic and diluted $ 6,300 $ 8,800 $ 7,480 $ 16,400 METROPLEX TRADING COMPANY LLC (dba OF CASH FLOWS (Unaudited)(IN THOUSANDS) For the Six Months EndedJune 30, 2025 2024 Operating activities: Net income $ 748 $ 1,640 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Depreciation of property and equipment 8 8 Amortization of software development costs 93 165 Amortization of right-of-use asset 110 104 Sales return allowance 142 219 Inventory returns reserve 115 148 Changes in operating assets and liabilities: Inventory, net (1,170) 433 Prepaid expenses and other current assets 168 220 Other assets (47) 1 Accounts payable 1,216 (4,323) Operating lease liability (114) (102) Accrued expenses and other current liabilities (556) (206) Unearned revenue (501) (1,352) Net cash provided by (used in) operating activities $ 212 $ (3,045) Investing activities: Purchase of property and equipment (9) — Disposal of property and equipment 2 — Additions to capitalized software (151) (75) Net cash used in investing activities $ (158) $ (75) Financing activities: Payments of deferred transaction costs (1,259) — Capital distributions to owners (2,040) (2,760) Net cash used in financing activities $ (3,299) $ (2,760) Net change in cash (3,245) (5,880) Cash and cash equivalents at beginning of period 7,887 10,738 Cash and cash equivalents at end of period $ 4,642 $ 4,858 Supplemental disclosures of non-cash financing activities: Deferred transaction costs included in accounts payable $ 164 $ — Non-GAAP Financial Information We utilize Adjusted EBITDA and Adjusted EBITDA margin, non-GAAP financial measures, to supplement GAAP measures of performance as a tool to evaluate our historical financial and operational performance, identify trends affecting our business, and formulate business plans and make strategic decisions. We believe that Adjusted EBITDA provides users of our financial information with useful supplemental information that enables a better comparison of our performance across periods. We believe Adjusted EBITDA provides visibility to the underlying continuing operating performance by excluding the impact of non-cash expenses, including depreciation, amortization, and certain non-recurring costs, as management does not believe these expenses are representative of our core earnings. We also provide Adjusted EBITDA margin, which is calculated as Adjusted EBITDA divided by revenue. The non-GAAP financial measures have not been calculated in accordance with GAAP and should be considered in addition to results prepared in accordance with GAAP and should not be considered as a substitute for, or superior to, GAAP results. We caution investors that non-GAAP financial information, by its nature, departs from traditional accounting conventions. Adjusted EBITDA is not a liquidity measure and should not be considered as discretionary cash available to us to reinvest in the growth of our business or to distribute to stockholders or as a measure of cash that will be available to us to meet our obligations. We define Adjusted EBITDA as net income excluding non-cash expenses, including depreciation and amortization, and certain non-recurring costs. Adjusted EBITDA margin represents Adjusted EBITDA as a percentage of revenue. The following table reconciles our GAAP and non-GAAP financial measures for the three and six months ended June 30, 2025 and 2024 (in thousands, except percentages): Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Net income $ 630 $ 880 $ 748 $ 1,640 Add back: Depreciation and amortization 50 86 101 173 Non-recurring costs (1) 71 — 524 — Adjusted EBITDA $ 751 $ 966 $ 1,373 $ 1,813 % Adjusted EBITDA margin 4% 5% 3% 4% (1) Non-recurring costs consist of third-party accounting and consulting fees incurred in preparation for the Company's business combination that are not otherwise deferred. About GrabAGun We are defenders. We are sportsmen. We are outdoorsmen. We believe that it is our American duty to help everyone, from first-time buyers to long-time enthusiasts, understand and legally secure their firearms and accessories. That's why our arsenal is fully packed, consistently refreshed, and always loaded with high-quality, affordable firearms and accessories. Industry-leading brands that GrabAGun works with include Smith & Wesson Brands, Sturm, Ruger & Co., SIG Sauer, Glock, Springfield Armory and Hornady Manufacturing, among others. GrabAGun is a fast growing, digitally native eCommerce retailer of firearms and ammunition, related accessories and other outdoor enthusiast products. Building on its proprietary software expertise, GrabAGun's eCommerce site has become one of the leading firearm retail websites. In addition to its eCommerce excellence, GrabAGun has developed industry-leading solutions that transform supply chain management, combining dynamic inventory and order management with AI-powered pricing and demand forecasting. These advancements enable seamless logistics, efficient regulatory compliance and a streamlined experience for customers. Forward-Looking Statements Any statements other than statements of historical fact contained herein are forward-looking statements. Such forward-looking statements include, but are not limited to, expectations, hopes, beliefs, intentions, plans, prospects, financial results or strategies regarding the Company and/or GrabAGun held by the Company's management team, as well as the products and markets, future financial condition, expected future performance and market opportunities of the Company and/or GrabAGun. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties, including those contained in GrabAGun's SEC filings. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including the possibility that the positive financial results reported herein will not continue to improve or improve at the same rates in the future, or that the authorized share repurchase will not accomplish its intended purposes. Recipients are cautioned not to put undue reliance on forward-looking statements, and neither the Company nor GrabAGun assumes any obligation to, nor intends to, update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by U.S. federal securities law. View source version on Contacts Investors & Media GrabAGun@ Sign in to access your portfolio
