Company does not expect Virginia-specific demand surge to repeat in the second quarter
Company aims to grow marketplace activity and market share through traffic, conversion, and seller participation
Company plans to expand transaction monetization by scaling FFL transfer revenue and implementing universal payments
Result drivers
Marketplace growth - Co said revenue growth was driven by higher marketplace volume and a new FFL transfer revenue stream
Cost reduction - Operating expenses fell 45% yr/yr, reflecting the resolution of certain legacy legal matters and continued cost discipline
Legislation-driven demand - Demand was supported in part by legislation-driven purchasing activity ahead of new Virginia firearms restrictions
Analyst coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the recreational products peer group is "buy"
Wall Street's median 12-month price target for Outdoor Holding Company is $3.38, about 58.5% above its August 7 closing price of $2.13
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