Company Summary: Smith & Wesson Brands, Inc.

Business Overview

• Industry Position: One of the world's leading manufacturers and designers of firearms.
• Product Portfolio:
  • Handguns (including revolvers and pistols)
  • Long guns (modern sporting rifles, pistol-caliber carbines, lever-action rifles)
  • Firearm suppressors
  • Restraints (handcuffs)
  • Firearm-related products (parts and accessories)
• Brand Names: Mainly sells under Smith & Wesson and Gemtech brands.
• Manufacturing Facilities:
  • Maryville, Tennessee
  • Springfield, Massachusetts
  • Houlton, Maine
• History: Founded in 1852 by Horace Smith and Daniel B. Wesson. The company has gone through multiple ownership changes and rebranding:
  • Previously owned by Bangor Punta, Lear Siegler, Tomkins PLC.
  • Acquired by current parent company in 2001.
  • Renamed several times, most recently to Smith & Wesson Brands, Inc. in May 2020.
  • Headquarters moved to Maryville, Tennessee in 2023.

Revenue & Financials (Fiscal Year Ended April 30, 2025)

• Net Sales: $474.7 million
  • Decreased by 11.4% from the prior year.
• Gross Profit: $127.2 million
  • Decreased 19.6% from the prior year.
• Net Income: $13.4 million
  • Decreased significantly from $41.4 million in the prior year.
• Adjusted Measures:
  • Operating income: $23.9 million (down from $47.1 million in previous year).

Customers & Sales

• Customer Base:
  • Distributors, government agencies (law enforcement and military), retailers, and retail consumers.
  • International sales primarily through distributors (~5% of total sales in FY2025).
• Major Customers:
  • In FY2025, a single customer accounted for 14.6% of net sales.
  • In FY2024, three customers exceeded 10% each.
• Distribution Channels:
  • Domestic and international markets.
  • Sales include direct government sales and business-to-business (B2B).
  • Retail sales through dealers, large retailers, direct to consumers via e-commerce platform.

Employees

• Total Employees (as of April 30, 2025): 1,416
  • Includes 11 part-time employees.
• Employee Experience:
  • 30% with 10 or more years of service.
  • 3% with over 25 years of service.
• Labor & HR Policies:
  • Focus on training, development, diversity, and safety.
  • High engagement in training programs and benefit offerings.
• Management:
  • Key executives include the President & CEO (Mark P. Smith), CFO (Deana L. McPherson), General Counsel (Kevin A. Maxwell), and others.

Strategic Focus & Operations

• Core Strategies:
  • Drive organic growth through brand leverage and new product introductions.
  • Innovate and produce high-quality firearms that meet consumer and professional needs.
  • Streamline operations via standardized systems and infrastructure.
  • Invest cash flow in brand growth, product development, and capacity expansion.
• Product Development:
  • Regular introduction of new products including pistols, long guns, and accessories.
  • Notable launches in FY2025 include BodyGuard 2.0, variants of Model 1854, expansion of M&P FPC, and Model 1854 lever-action rifle.
• Manufacturing & Facilities:
  • Focused on maintaining manufacturing capacity and reducing supply chain risks.
  • Facilities are ISO 9001 certified with active efforts to modernize and optimize production.
• Risks & External Factors:
  • Subject to extensive regulation (ATF, state, and local laws).
  • Industry impacted by political, social, economic, and legislative changes.
  • Product quality and safety are critical, with potential for recalls or liabilities.
  • Heavy reliance on brand reputation, innovation, and tight supply chain management.

Note: All figures are based on fiscal year ending April 30, 2025. The company’s operations include manufacturing, product development, distribution, and sales mainly in the U.S. and internationally through distributors.