Filing Flows › GrabAGun Digital Holdings (PEW) › Q3 2025
GrabAGun Digital Holdings (PEW) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 13, 2025
GrabAGun Digital Holdings (PEW) reported revenue of $22.3M for the third quarter 2025 (Q3 2025), +10% from a year earlier and +5% from the quarter before. Operating margin was -18.8%, net loss $3.3M (14.6% of revenue).
GrabAGun Digital Holdings, Q3 2025: revenue $22.3M (+10% year over year), operating margin -18.8%, net loss $3.3M, operating cash flow −$3.2M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $22.3M | +5% | +10% |
| Operating profit | −$4.2M | — | — |
| Net earnings | −$3.3M | — | — |
| Operating cash flow | −$3.2M | — | — |
What changed
Revenue was $22.3M in Q3 2025, up 10% year over year and up 5% from the previous quarter. Firearm Sales was the largest line at 81% of revenue. Firearm Sales added $2.0M year over year (up 12%), 94% of the total change.
Gross margin was 10.7%, up 2.1 points from a year earlier. Operating costs exceeded revenue by $4.2M, an operating margin of -18.8%. Operating expenses grew 432% against revenue growth of 10%. The quarter ended with a net loss of $3.3M, after a profit of $630K the previous quarter. Non-operating items added $926K, -28% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$3.2M. Non-cash charges added back $51K of depreciation and amortization and $3.2M of share-based compensation. Working capital and other items used $3.3M. Capital expenditures of $25K exceeded it, leaving free cash flow of −$3.3M.
Questions
What was GrabAGun Digital Holdings' revenue in the third quarter 2025?
GrabAGun Digital Holdings (PEW) reported revenue of $22.3M for the third quarter 2025 (Q3 2025), +10% from a year earlier and +5% from the quarter before.
Was GrabAGun Digital Holdings profitable in the third quarter 2025?
Operating loss was $4.2M (-18.8% of revenue) and net loss $3.3M.