G
GunBroker
👤 Steve Urvan (A technologist who spent 22 years learning firearms law; sold GunBroker for $244M in 2021, then sued his way back to CEO.)🌐 site
A 1999 auction site for the most regulated goods online, now the entire business of a listed company.
Will it work? · our read
Regulation as moat. 26 years old, 63 staff, $51.1M filed revenue and $44.6M gross profit. Growth is slow; few rivals want to carry the legal load.
01How the money moves
Sellers list guns and gear, paying for listing options
→
Buyer wins; the item ships to a licensed FFL dealer
→
GunBroker bills a final value fee plus a buyer service fee
02The numbers
$51.1MFiledFY26 revenue (marketplace)
2026-03-31source:
Net revenues $51,125,398 for the year ended March 31, 2026 (continuing operations)
$51.1M of revenue across 63 staff is about $811K each [our read]. FY2026 10-K
Up 3.5% on FY25's $49.4M, still under the $64.6M the marketplace booked in FY22.
🔒
You have the verdict. Members get the work behind it.
- The CENTS scorecard — where it's strong, where it's soft
- The founder's key move, and the counter-move
- How it could die — the evidence, and how sure we are
- The case against our own call
- A 🚀 launchpad prompt — the case, as a plan for your business
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Outdoor Holding Company FY2026 10-K (filed 22 Jun 2026) — net revenues $51,125,398; 8.8M registered users; 4.43M average daily listings; more than 32,000 active FFLs; 63 employees.AMMO, Inc. FY2022 10-K — fair value of consideration for the GunBroker acquisition $243,920,840; marketplace revenue $64,608,516.AMMO, Inc. FY2024 10-K — marketplace revenue by year: $64.6M (FY22), $63.1M (FY23), $53.9M (FY24).SEC EDGAR filing index, CIK 0001015383 — full filing history, AMMO, Inc. renamed Outdoor Holding Company on 24 Apr 2025.outdoorholding.com — parent company site (HTTP 200 confirmed).
FILED: $51.1M is the net revenue line of continuing operations in the FY2026 10-K, which I downloaded and read as raw text, not a summary — the filing prints $51,125,398 for the year ended 31 March 2026. After the ammunition business was sold to Olin Winchester (closed 18 Apr 2025, $75.0M gross, about $42.9M net) and reported as discontinued operations, continuing operations are the GunBroker marketplace alone, so this figure is the marketplace, not a parent group. GMV is NOT disclosed: the FY2026 10-K uses the term once, in a forward-looking initiative, with no figure, so no gross merchandise value appears on this card. The $51.1M is the cut GunBroker keeps, never what buyers paid. Every metric tile (8.8M users, 32,000 FFLs, 63 employees) is printed in that same filing. The $244M sale price is the FY2022 10-K's fair value of consideration transferred ($243,920,840, 30 Apr 2021). The drama is documented, not inferred: Urvan sued in the Delaware Court of Chancery on 30 Apr 2023 for fraudulent inducement and partial rescission seeking not less than $140M; the company countersued on 1 Aug 2023; the parties settled 21 May 2025 (effective 30 May 2025) and Urvan became CEO and Chairman, holding about 19.8% of the stock. What I could NOT open: gunbroker.com and its fee page both returned 403 to a scripted fetch, so no fee percentage appears anywhere on this card — the fee structure described is the filing's own wording. I also failed to confirm eBay's firearms prohibition (the policy URL served a different, localized page), so no claim about rival platform bans is made. Rival bars and their model labels are our read, not revenue. Steve Urvan's personal site, X and LinkedIn could not be confirmed-real within this session's search budget, so founder.links carries only the verified product site — no corporate or unverified personal link is included. We never score you.