- The Fresh Factory B.C. (TSXV:FRSH), a clean-label food and beverage stock, turned profitable in Q3 2024
- The company generated net income of C$76,392 for the quarter, up from a loss of C$646,582 year-over-year
- The Fresh Factory is a vertically integrated company focused on accelerating the growth of fresh, clean-label food and beverage brands
- Fresh Factory stock is flat year-over-year and has given back 34.62 per cent since inception in 2021
The Fresh Factory B.C. (TSXV:FRSH), a clean-label food and beverage stock, turned profitable in Q3 2024 generating net income of C$76,392, up from a loss of C$646,582 year-over-year (YoY).
Highlights for Q3 ended September 30, 2024
- Billed revenue of C$11.1 million, up by 39 per cent from C$7.8 million YoY, driven by increased sales to strategic partners across numerous categories.
- Billed revenue year-to-date of C$32.7 million, up by 39.2 per cent from C$23.5 million YoY.
- Record EBITDA of C$0.9 million, up from a loss of C$0.13 million YoY, marking the company’s third consecutive quarter of positive EBITDA.
- Operating profit increased by C$1.2 million YoY from 11.3 per cent to 19 per cent thanks to increased sales volume and production efficiencies.
- Net income of C$76,392, up from a net loss of C$646,582 YoY.
- Adjusted gross margin of C$4.3 million or 38.5 per cent, up by 77 per cent from C$2.4 million YoY.
Fresh Factory produced 9.1 million units during the quarter, a 186 per cent increase YoY, and intends to continue this growth trend through ongoing capacity and R&D expansion at its new facility in Downers Grove, Illinois.
Leadership insights
“Achieving our third consecutive quarter of positive EBITDA marks a pivotal milestone in our journey of strategic growth and operational excellence,” Bill Besenhofer, The Fresh Factory B.C.’s co-founder and chief executive officer, said in a statement. “This quarter’s record-breaking performance reflects the strength of our team and our unwavering commitment to growing alongside our customers. With expanded capabilities and our new Downers Grove facility set to come online in early 2025, we are well-positioned to meet increasing demand while maintaining strong financial results. We look forward to the opportunities ahead as we continue to scale and execute our vision for sustainable growth.”
About The Fresh Factory B.C.
The Fresh Factory is a vertically integrated company focused on accelerating the growth of fresh, clean-label food and beverage brands.
Fresh Factory stock (TSXV:FRSH) is up by 6.25 per cent trading at C$0.85 per share as of 9:52 am ET. The stock is flat year-over-year and has given back 34.62 per cent since inception in 2021.
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(Top image of The Fresh Factory B.C. logo: The Fresh Factory B.C.)