Else Nutrition Reports 2024 Third Quarter Financial Results and Provides Business Update
Else Nutrition reported Q3 2024 financial results with revenue increasing 5% year-over-year to $1.8 million, compared to $1.71 million in Q3 2023. Operating expenses were $3.6 million, up from $3.5 million in the previous year. The company's cash balance stood at $0.9 million as of September 30, 2024.
The company is expanding its retail presence through a pilot program with Costco, potentially leading to distribution in over 100 Canadian locations. Additionally, they're finalizing arrangements to offer kids RTD products in 900+ new US grocery stores. Else is also preparing to launch its Adult RTD product, with first commercial production scheduled for late 2024.
Else Nutrition ha riportato i risultati finanziari del terzo trimestre 2024, con un aumento del 5% del fatturato rispetto all'anno precedente, arrivando a 1,8 milioni di dollari, rispetto a 1,71 milioni di dollari nel terzo trimestre 2023. Le spese operative sono state di 3,6 milioni di dollari, in aumento rispetto ai 3,5 milioni dell'anno precedente. Il saldo di cassa dell'azienda si attestava a 0,9 milioni di dollari al 30 settembre 2024.
L'azienda sta espandendo la propria presenza al dettaglio attraverso un programma pilota con Costco, che potrebbe portare alla distribuzione in oltre 100 località canadesi. Inoltre, stanno finalizzando gli accordi per offrire prodotti pronti da bere per bambini in oltre 900 nuovi supermercati statunitensi. Else si sta anche preparando a lanciare il suo prodotto RTD per adulti, con la prima produzione commerciale prevista per la fine del 2024.
Else Nutrition informó los resultados financieros del tercer trimestre de 2024, con un aumento del 5% en los ingresos interanuales, alcanzando $1.8 millones, en comparación con $1.71 millones en el tercer trimestre de 2023. Los gastos operativos fueron de $3.6 millones, en comparación con $3.5 millones del año pasado. El saldo de caja de la empresa se situaba en $0.9 millones al 30 de septiembre de 2024.
La empresa está ampliando su presencia minorista a través de un programa piloto con Costco, lo que podría llevar a la distribución en más de 100 ubicaciones en Canadá. Además, están finalizando los acuerdos para ofrecer productos listos para beber para niños en más de 900 nuevos supermercados en Estados Unidos. Else también se está preparando para lanzar su producto RTD para adultos, con la primera producción comercial programada para finales de 2024.
Else Nutrition은 2024년 3분기 재무 결과를 발표했으며, 수익은 전년 대비 5% 증가한 180만 달러를 기록했습니다. 2023년 3분기에는 171만 달러에 달했습니다. 운영 비용은 360만 달러로, 이전 년도의 350만 달러에서 증가했습니다. 회사의 현금 잔고는 2024년 9월 30일 기준으로 90만 달러였습니다.
회사는 Costco와의 파일럿 프로그램을 통해 소매 입지를 확장하고 있으며, 이는 캐나다의 100개 이상의 장소에서 유통으로 이어질 가능성이 있습니다. 또한, 미국의 900개 이상의 새로운 식료품점에서 아동용 RTD 제품을 제공하기 위한 협정을 마무리하고 있습니다. Else는 또한 성인 RTD 제품 출시를 준비 중이며, 첫 상업 생산은 2024년 말로 예정되어 있습니다.
Else Nutrition a rapporté des résultats financiers pour le troisième trimestre 2024, avec une augmentation des revenus de 5 % par rapport à l'année précédente, atteignant 1,8 million de dollars, contre 1,71 million de dollars au troisième trimestre 2023. Les dépenses d'exploitation se sont établies à 3,6 millions de dollars, contre 3,5 millions de dollars l'année précédente. Le solde de trésorerie de l'entreprise s'élevait à 0,9 million de dollars au 30 septembre 2024.
L'entreprise élargit sa présence de vente au détail grâce à un programme pilote avec Costco, ce qui pourrait conduire à une distribution dans plus de 100 emplacements canadiens. De plus, ils finalisent des arrangements pour offrir des produits RTD pour enfants dans plus de 900 nouveaux supermarchés américains. Else se prépare également à lancer son produit RTD pour adultes, avec la première production commerciale prévue pour la fin de l'année 2024.
Else Nutrition hat die finanziellen Ergebnisse für das dritte Quartal 2024 veröffentlicht, wobei der Umsatz im Jahresvergleich um 5 % auf 1,8 Millionen Dollar gestiegen ist, verglichen mit 1,71 Millionen Dollar im dritten Quartal 2023. Die Betriebskosten betrugen 3,6 Millionen Dollar, ein Anstieg von 3,5 Millionen Dollar im Vorjahr. Der Bargeldbestand des Unternehmens belief sich zum 30. September 2024 auf 0,9 Millionen Dollar.
Das Unternehmen erweitert seine Einzelhandelspräsenz durch ein Pilotprogramm mit Costco, was möglicherweise zu einer Verteilung an über 100 Standorten in Kanada führen wird. Darüber hinaus finalisieren sie Vereinbarungen, um RTD-Produkte für Kinder in mehr als 900 neuen Lebensmittelgeschäften in den USA anzubieten. Else bereitet sich auch darauf vor, sein RTD-Produkt für Erwachsene auf den Markt zu bringen, wobei die erste kommerzielle Produktion für Ende 2024 geplant ist.
- Revenue increased 5% YoY to $1.8 million in Q3 2024
- Potential expansion to 100+ Costco locations in Canada
- Planned expansion to 900+ new US grocery stores
- New Adult RTD product launch scheduled for late 2024
- Operating expenses increased to $3.6 million from $3.5 million YoY
- Low cash balance of $0.9 million
- Company seeking bridge funding indicating potential cash flow concerns
Conference call to be held today at 10:00 AM Eastern Time
Hamutal Yitzhak, CEO of Else Nutrition, commented, "We are making steady progress executing our growth strategy, while carefully managing expenses. We achieved a
"We are continuing to gain traction with retailers across
"To support our growth, we are in active discussions regarding non-dilutive bridge funding, and a long-term credit line that will enable us to ramp up our marketing efforts, optimize our capital structure, and drive our long-term growth strategy. Concurrently, we've implemented strategic cost-saving measures aimed at improving our margins in future quarters. We believe these operational improvements, combined with innovative product launches and an expanding retail presence, are positioning us for long-term financial success."
"Looking forward, we believe as we continue to execute on our financial strategy, it will enable us o expand our retail footprint, increase brand visibility, and continue to develop high-demand plant-based products. Our commitment to providing healthy, sustainable nutrition options places us at the forefront of the plant-based nutrition market, and we are excited about the opportunities that lie ahead."
2024 Third Quarter Financial Results
All figures are in CAD unless otherwise indicated.
- Revenue for Q3 2024 increased approximately
5% to$1.8 million $1.71 million - Operating expenses for Q3 2024 was
$3.6 million $3.5 million - Cash balance as of September 30, 2024, was
$0.9 million
Conference Call
Else Nutrition management plans to host a business update conference call at 10:00 a.m. Eastern Time on November 14, 2024, to discuss the Company's financial results for the 2024 third quarter ended September 30, 2024, as well as the Company's corporate progress and other developments.
The conference call will be available via telephone by dialing toll free 1-877-704-4453 for
A webcast replay will be available on the Investor Relations section of the Company's website (https://investors.elsenutrition.com/), through November 14, 2025. A telephone replay of the call will be available approximately three hours following the call, through November 21, 2024, and can be accessed by dialing 1-844-512-2921 for
To delve deeper into Else Nutrition's offerings and its revolutionary approach to kids' nutrition, visit www.elsenutrition.com
About Else Nutrition Holdings Inc.
Else Nutrition Holdings Inc. (TSX: BABY, OTCQX: BABYF, FSE: 0YL) is a food and nutrition company in the international expansion stage focused on developing innovative, clean, and plant-based food and nutrition products for infants, toddlers, children, and adults. Its revolutionary, plant-based, non-soy formula is a clean-ingredient alternative to dairy-based formulas. Since launching its Plant-Based Complete Nutrition for Toddlers, made of whole foods, almonds, buckwheat, and tapioca, the brand has received thousands of powerful testimonials and reviews from parents, gained national retailer support, and achieved rapid sales growth.
Awards and Recognition:
- "2017 Best Health and Diet Solutions" award at
Milan 's Global Food Innovation Summit - #1 Best Seller on Amazon in the Fall of 2020 in the New Baby & Toddler Formula Category
- "Best Dairy Alternative" Award 2021 at World Plant-Based Expo
- Nexty Award Finalist at Expo West 2022 in the Plant-Based lifestyle category
- During September 2022, Else Super Cereal reached the #1 Best Seller in Baby Cereal across all brands on Amazon
- In May 2024 Else Nutrition's Ready-to-Drink Kids Vanilla Shake Named Among the Best in Family-Friendly Products by the Prestigious Mom's Choice Awards®
TSX
Neither the TSX nor its regulation services provider (as that term is defined in the policies of the TSX) accept responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward-Looking Statements
This press release contains statements that may constitute "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements are typically identified by words such as "will" or similar expressions. Forward-looking statements in this press release include statements with respect to the anticipated dates for filing the company's financial disclosure documents. Such forward-looking statements reflect current estimates, beliefs, and assumptions, which are based on management's perception of current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. No assurance can be given that the foregoing will prove to be correct. Forward-looking statements made in this press release assume, among others, the expectation that there will be no interruptions or supply chain failures as a result of COVID-19 and that the manufacturing, broker, and supply logistic agreement with the company does not terminate. Actual results may differ from the estimates, beliefs, and assumptions expressed or implied in the forward-looking statements. Readers are cautioned not to place undue reliance on any forward-looking statements, which reflect management's expectations only as of the date of this press release. The company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.
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SOURCE Else Nutrition Holdings Inc.
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