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Else Nutrition reported Q1 2024 financial results with revenue of $2.1 million, a 27% decrease from Q1 2023 due to shipment delays. Despite this, Amazon sales rose significantly: 92% in the U.S. and 330% in Canada year-over-year. Operating expenses decreased 15% to $4.2 million. Key achievements include new major retail partnerships, the successful launch of kids' ready-to-drink shakes, and the first commercial launch of plant-based infant formula in Australia. The company remains optimistic about future growth, citing increased consumer awareness and forthcoming product launches.
ELSE NUTRITION HOLDINGS INC. has closed a second tranche of a private placement with Lind Global Fund II, LP, for net proceeds of US$1,000,000. The Company issued a convertible security with a face value of US$1,200,000 and common share purchase warrants. The funding will be used for clinical trials and general working capital.
Else Nutrition Holdings Inc. (BABYF) has expanded its product listings at a major U.S. food retailer, adding Toddler Omega, Ready-to-Drink Kids Shakes, and Super Cereal for Babies in over 70 stores in the Northeast starting June 2024. This collaboration showcases the company's growing presence in North America and commitment to providing clean label products for babies, toddlers, and children.
ELSE NUTRITION HOLDINGS INC. (BABYF) announced a business update conference call to discuss financial results for the 2024 first quarter and corporate progress on May 15, 2024. The call will be available via telephone and webcast. A webcast replay and telephone replay will also be accessible.
