Axil Brands, Inc.

Listed Company

AXILCIK 0001718500NYSENon-AcceleratedSmaller ReportingPerfumes, Cosmetics & Other Toilet PreparationsDelawareFY ends May 31

Period

FY 2025

Revenue

$26.26M

Net Income

$855.0K

Total Assets

$12.87M

Equity

$9.66M

Shares Out

6.82M

Op. Cash Flow

$1.93M

Business

Axil Brands, Inc. manufactures, markets, sells and distributes hearing and audio enhancement and protection products and professional hair and skin care products. Products include earplugs, earmuffs, earbuds, Bluetooth audio devices and outdoor speakers, and shampoos, conditioners and scalp treatments; the company also offers marketing services through a subsidiary. It operates two primary segments—hearing enhancement and protection, and hair and skin care—alongside the marketing services unit. Distribution includes direct-to-consumer e-commerce, third-party platforms, distributors, retailers and professional salons in the U.S. and select international markets.

Summary from filing dated 2025-08-21

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-05-31	FY 2024 2024-05-31	FY 2023 2023-05-31	FY 2022 2022-05-31	FY 2021 2021-05-31
Sales, net	26	27	24	2	2
Cost of sales	8	7	6	828,586	599,701
Gross profit	19	20	18	2	1
Sales and marketing	12	13	12	1	730,056
Compensation and related taxes	847,150	949,387	1	15,129	36,817
Professional and consulting	3	3	1	232,774	306,172
General and administrative	2	2	1	271,866	281,917
Total Operating Expenses	17	19	16	2	1
INCOME FROM OPERATIONS	1	2	2	−211,403	−321,054
Gain on settlement	—	79,182	—	—	—
Other income	11,536	22,534	16,829	—	—
Interest income	139,813	182,225	6,469	36	44
Interest expense and other finance charges	−3,898	−4,392	—	—	—
Other income (expense), net	147,451	279,549	71,277	28,500	23,299
INCOME BEFORE PROVISION FOR INCOME TAXES	1	2	2	−182,903	−297,755
Provision (benefit) for income taxes	453,828	−220,205	230,913	—	—
NET INCOME	854,988	2	2	−182,903	−297,755
Deemed dividend on preferred stock buyback	—	1	—	—	—
Net income available to common shareholders	854,988	3	2	—	—
Basic (per share)	0.13	0.57	0.32	0	—
Diluted (per share)	0.1	0.21	0.1	0	—
Basic (shares)	6	6	6	42	—
Diluted (shares)	8	16	18	42	—

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-05-31	FY 2024 2024-05-31	FY 2023 2023-05-31	FY 2022 2022-05-31	FY 2021 2021-05-31
Cash	5	3	5	373,731	496,937
Accounts receivable, net	1	509,835	417,016	105,921	90,877
Inventory, net	3	3	1	323,388	—
Due from related party	222	—	—	—	—
Prepaid expenses and other current assets	947,969	809,126	801,360	—	2,430
Total Current Assets	9	8	7	803,040	1
Property and equipment, net	412,261	260,948	157,463	29,145	37,016
Intangible assets, net	403,591	309,104	382,674	—	—
Right of use asset	579,121	36,752	101,845	45,453	128,375
Deferred tax asset	46,239	231,587	—	—	—
Other assets	20,720	16,895	12,195	16,277	—
Goodwill	2	2	2	—	—
Total Other Assets	4	3	3	90,875	221,542
TOTAL ASSETS	13	11	10	893,915	1
Accounts payable	866,573	967,596	908,606	458,263	—
Customer deposits	67,412	154,762	183,688	16,522	—
Contract liabilities- current	757,355	905,311	827,106	—	—
Note payable - current	3,574	146,594	172,588	156,300	—
Due to related party	—	11,798	158,072	25,452	—
Lease liability, current	212,543	36,752	65,824	47,166	84,635
Income tax liability	310,369	242,296	230,913	—	—
Other current liabilities	244,998	332,936	305,664	—	—
Total Current Liabilities	2	3	3	707,003	712,411
Lease liability, long term	404,669	—	36,752	—	47,166
Note payable, long term	136,655	—	—	—	152,039
Contract liabilities- long term	205,939	480,530	605,942	—	—
Total Long Term Liabilities	747,263	480,530	642,694	2,200	204,705
Total Liabilities	3	3	3	709,203	917,116
Commitments and contingencies (see Note 10)	—	—	—	—	—
Preferred stock, $0.0001 par value; 28,000,000 and 300,000,000 shares authorized as of May 31, 2025 and May 31, 2024, respectively; 27,773,500 and 42,251,750 shares issued and outstanding as of May 31, 2025 and May 31, 2024, respectively	2,777	4,225	25,000	—	—
Common stock, $0.0001 par value: 15,000,000 and 450,000,000 shares authorized as of May 31, 2025 and May 31, 2024, respectively; 6,657,717 and 5,908,939 shares issued and outstanding as of May 31, 2025 and May 31, 2024, respectively	666	591	586	4,195	4,195
Additional paid-in capital	9	8	10	5	5
Retained Earnings (Accumulated deficit)	720,718	−134,270	−3	−5	−5
Total Stockholders' Equity	10	8	7	184,712	345,648
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	13	11	10	893,915	1

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-05-31	FY 2024 2024-05-31	FY 2023 2023-05-31	FY 2022 2022-05-31	FY 2021 2021-05-31
Depreciation and amortization	148,498	130,610	95,179	7,871	—
(Recovery)/provision for credit losses	−4,519	25,471	76,969	6,941	1,061
(Reversal of inventory obsolescence)/Inventory Obsolescence	−46,895	46,895	—	71,481	23,714
Stock-based compensation	1	267,183	207,342	21,967	138,800
Gain on forgiveness of account payable	−218,699	—	—	—	—
Deferred income taxes	187,922	−231,587	—	—	—
Accounts receivable	−489,591	−118,290	−160,277	−21,985	90,263
Inventory	907,260	−2	353,985	95,983	−226,442
Prepaid expenses and other current assets	−142,668	−7,766	−661,115	2,430	11,278
Accounts payable	117,677	138,172	—	—	—
Other current liabilities	−71,699	4,298	630,897	—	—
Contract liabilities	−422,547	−47,207	389,716	—	—
NET CASH PROVIDED BY OPERATING ACTIVITIES	2	2,677	3	−126,055	48,407
Purchase of intangibles	−180,815	−22,080	—	—	—
Purchase of property and equipment	−213,483	−138,445	−65,650	—	−15,408
NET CASH USED IN INVESTING ACTIVITIES	−394,298	−160,525	1	—	−15,408
Repurchase of preferred stock	—	−1	—	—	—
Repayment of equipment financing	—	−2,200	−3,300	−3,300	−3,300
Repayment of note payable	−6,365	−25,994	−37,119	—	—
Advances from a related party	7	9	—	—	—
Repayments to a related party	−7	−9	—	—	—
NET CASH USED IN FINANCING ACTIVITIES	−18,385	−1	540,051	2,849	54,907
NET INCREASE (DECREASE) IN CASH	2	−2	4	−123,206	87,906
Interest	3,736	6,907	2,521	500	500
Income taxes	137,273	—	—	—	—
Initial recognition of right of use assets recognized as lease liability	767,269	—	—	—	—

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