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INCORPORATED Exhibit 99.1 AMMO , Inc. Reports Financial Results for its Fiscal Third Quarter Period Ending December 31 , 2020 SCOTTSDALE , Ariz . , February 16 , 2021 — - AMMO , Inc. ( Nasdaq : POWW ) ( “ AMMO ” or the “ Company ” ) , a premier American ammunition and munition components manufacturer and technology leader , is pleased to announce it has reported financial results for its fiscal third quarter ending December 31 , 2020 . Financial Summary for Fiscal Third Quarter 2021 vs. Fiscal Third Quarter 2020 • Sales for the quarter were $ 16.6 million - 500 % increase in comparison to the Fiscal 2020 quarter . Sales for the nine months increased 282 % to $ 38.3 million . Gross Profit Margins increased to approximately 20 % , an increase of 163 % . Operating expenses as a percentage of sales decreased 28 % from the prior year . Adjusted EBITDA has grown to $ 2.4 million for the quarter - 295 % increase from the prior year . AMMO is positioned for exceptional growth , setting a new standard in Fiscal 2021. Demand fundamentals in the US domestic ammunition market are exceedingly strong and we are seeing no indication of slowing . Our fiscal third quarter delivered the best quarterly performance in Company history , with even better quarters expected throughout fiscal 2022 . AMMO's sales for the quarter were $ 16.6 million , a 500 % increase in comparison to the Fiscal 2020 quarter . Sales for the nine - month period ( year - over - year ) increased 282 % to $ 38.3 million . Additionally , the Company experienced sales growth of 38 % quarter - over - quarter , a $ 4.6 million increase . The Company's margins have also increased to approximately 20 % for our third fiscal quarter , an increase of 163 % or $ 4.2 million year- over - year . When depreciation and amortization are added back to the cost of goods sold , our gross profit margin increases to 25 % for the quarter . Our operating expenses as a percentage of sales was 23 % -28 % decrease from the prior year quarter . Net Loss for the quarter was approximately $ 1.9 million , which includes approximately $ 2.4 million of non - cash expenses . Net Loss for the nine months was approximately $ 7.3 million , which also included non - cash expenses of $ 7.1 million .