AXIL reports Q1 FY27 results with lower revenue and record cash on hand

Axil Brands reported a 11.2% decline in net revenues for Q1 FY27 driven by a product transition and lack of a prior-year big-box order. Gross profit margins improved significantly to 82.6% due to a non-recurring customs duty refund. The company also announced record cash of $7.9 million and secured pre-orders for its new XCOR II product line.