Filing Flows › GrabAGun Digital Holdings (PEW) › Q4 2025
GrabAGun Digital Holdings (PEW) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 12, 2026
GrabAGun Digital Holdings (PEW) reported revenue of $29.6M for the fourth quarter 2025 (Q4 2025), +14% from a year earlier and +33% from the quarter before. Operating margin was -1.4%, net earnings $414K (1.4% of revenue).
GrabAGun Digital Holdings, Q4 2025: revenue $29.6M (+14% year over year), operating margin -1.4%, net earnings $414K, operating cash flow $2.6M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $29.6M | +33% | +14% |
| Operating profit | −$424K | — | — |
| Net earnings | $414K | — | — |
| Operating cash flow | $2.6M | — | -6% |
What changed
Revenue was $29.6M in Q4 2025, up 14% year over year and up 33% from the previous quarter. Firearm Sales was the largest line at 87% of revenue.
Gross margin was 15.9%, up 2.9 points from a year earlier. Operating costs exceeded revenue by $424K, an operating margin of -1.4%. Operating expenses grew 239% against revenue growth of 14%. The fastest-growing cost line was General & admin (+248%). Net earnings were $414K, down 79% year over year. The effective tax rate was 0.0%. Non-operating items added $838K, 202% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $2.6M (down 6% year over year), 639% of net earnings. Non-cash charges added back $65K of depreciation and amortization and $578K of share-based compensation. Working capital and other items added $1.6M. Capital expenditures of $8.4M exceeded it, leaving free cash flow of −$5.8M.
Questions
What was GrabAGun Digital Holdings' revenue in the fourth quarter 2025?
GrabAGun Digital Holdings (PEW) reported revenue of $29.6M for the fourth quarter 2025 (Q4 2025), +14% from a year earlier and +33% from the quarter before.
Was GrabAGun Digital Holdings profitable in the fourth quarter 2025?
Operating loss was $424K (-1.4% of revenue) and net earnings $414K.