Blue Star Foods Reiterates its 2024 Forecast of At Least 65% Revenue Growth with an Annual Run-Rate of Greater Than $20 Million
Blue Star Foods Corp. (NASDAQ: BSFC) has reiterated its 2024 forecast of at least 65% revenue growth with an annual run-rate exceeding $20 million. The company's confidence is based on a strong pipeline of existing and new business, supported by several initiatives:
1. Roll-out of gourmet meals for the U.S. Military
2. Weekly harvests at their land-based steelhead salmon farm
3. Increasing inventory levels in anticipation of revenue acceleration
4. Plans to improve soft-shell crab operations using AI and UV technology
CEO John Keeler addressed investor concerns, stating that the company is unaware of any specific reason for the stock's underperformance since withdrawing their S-1 Registration Statement on August 16, 2024. Blue Star has also strengthened its balance sheet by paying off $645,668 in debts.
Blue Star Foods Corp. (NASDAQ: BSFC) ha ribadito la sua previsione per il 2024 di almeno un aumento del fatturato del 65% con un tasso di inscritto annuale superiore a 20 milioni di dollari. La fiducia dell'azienda si basa su un solido portafoglio di attività esistenti e nuove, supportato da diverse iniziative:
1. Lancio di pasti gourmet per le Forze Armate statunitensi
2. Raccolte settimanali nella loro fattoria di salmoni steelhead a terra
3. Aumento dei livelli di inventario in previsione di un'accelerazione dei ricavi
4. Piani per migliorare le operazioni con granchi a guscio molle utilizzando tecnologia AI e UV
Il CEO John Keeler ha affrontato le preoccupazioni degli investitori, dichiarando che l'azienda non è a conoscenza di alcun motivo specifico per la scarsa performance delle azioni da quando ha ritirato la sua Dichiarazione di Registrazione S-1 il 16 agosto 2024. Blue Star ha anche rafforzato il proprio bilancio estinguendo debiti per 645.668 dollari.
Blue Star Foods Corp. (NASDAQ: BSFC) ha reiterado su pronóstico para 2024 de al menos un crecimiento del 65% en ingresos con una tasa anual superior a 20 millones de dólares. La confianza de la empresa se basa en un sólido portafolio de negocios existentes y nuevos, respaldado por varias iniciativas:
1. Lanzamiento de comidas gourmet para el Ejército de EE. UU.
2. Cosechas semanales en su granja terrestre de salmón steelhead
3. Aumento de los niveles de inventario en anticipación a una aceleración de los ingresos
4. Planes para mejorar las operaciones con cangrejos de concha blanda utilizando tecnología de IA y UV
El CEO John Keeler abordó las preocupaciones de los inversores, afirmando que la empresa no tiene conocimiento de ninguna razón específica para el mal rendimiento de las acciones desde que retiró su Declaración de Registro S-1 el 16 de agosto de 2024. Blue Star también ha fortalecido su balance al saldar deudas de 645.668 dólares.
블루 스타 푸드 주식회사 (NASDAQ: BSFC)는 2024년 전망을 최소한 65%의 매출 성장으로 재확인했으며 연간 20백만 달러를 초과하는 런 레이트를 기록하고 있습니다. 회사의 자신감은 여러 가지 이니셔티브에 의해 지원되는 기존 및 새로운 비즈니스의 견고한 파이프라인을 기반으로 하고 있습니다:
1. 미국 군대를 위한 고급 식사 출시
2. 육상 스틸헤드 연어 농장에서의 주간 수확
3. 수익 가속화를 대비한 재고 수준 증가
4. AI 및 UV 기술을 사용하여 부드러운 껍질 게 작업 개선 계획
CEO 존 킬러는 투자자들의 우려에 대해, 회사가 2024년 8월 16일 S-1 등록 신청서를 철회한 이후 주식의 저조한 성과에 대한 구체적인 이유를 알지 못한다고 설명했습니다. 블루 스타는 또한 645,668달러의 부채를 청산하여 재무 구조를 강화했습니다.
Blue Star Foods Corp. (NASDAQ: BSFC) a réaffirmé sa prévision pour 2024 d'au moins une croissance des revenus de 65% avec un taux annuel dépassant 20 millions de dollars. La confiance de l'entreprise repose sur un solide portefeuille d'activités existantes et nouvelles, soutenu par plusieurs initiatives :
1. Lancement de repas gastronomiques pour l'Armée américaine
2. Récoltes hebdomadaires dans leur exploitation aquacole de saumon steelhead
3. Augmentation des niveaux d'inventaire en prévision d'une accélération des revenus
4. Plans pour améliorer les opérations de crabes à carapace molle grâce à la technologie IA et UV
Le PDG John Keeler a abordé les préoccupations des investisseurs, déclarant que l'entreprise n'a connaissance d'aucune raison spécifique expliquant la sous-performance des actions depuis le retrait de sa déclaration d'enregistrement S-1 le 16 août 2024. Blue Star a également renforcé son bilan en remboursant des dettes de 645 668 dollars.
Blue Star Foods Corp. (NASDAQ: BSFC) hat seine Prognose für 2024 von mindestens 65% Umsatzwachstum mit einer jährlichen Laufzeit von über 20 Millionen Dollar bekräftigt. Das Vertrauen des Unternehmens basiert auf einer starken Pipeline bestehender und neuer Geschäfte, die durch mehrere Initiativen unterstützt wird:
1. Einführung von Gourmet-Mahlzeiten für das US-Militär
2. Wöchentliche Ernten auf ihrer landgestützten Steelhead-Lachs-Farm
3. Erhöhung der Lagerbestände in Erwartung einer Umsatzbeschleunigung
4. Pläne zur Verbesserung der Soft-Shell-Krebs-Operationen mithilfe von KI- und UV-Technologie
CEO John Keeler hat die Bedenken der Anleger angesprochen und erklärt, dass das Unternehmen über keinen spezifischen Grund für die schwache Aktienperformance informiert ist, seit es am 16. August 2024 seine S-1-Registrierungsanmeldung zurückgezogen hat. Blue Star hat auch seine Bilanz gestärkt, indem es Schulden in Höhe von 645.668 Dollar beglichen hat.
- Forecast of 65% revenue growth for 2024
- Projected annual run-rate exceeding $20 million
- Strong pipeline of existing and new business
- Initiated roll-out of gourmet meals for U.S. Military
- Weekly harvests at land-based steelhead salmon farm
- Increasing inventory levels for anticipated revenue acceleration
- Planned implementation of AI and UV technology in soft-shell crab operations
- Strengthened balance sheet by paying off $645,668 in debts
- Recent stock underperformance
- Withdrawal of S-1 Registration Statement on August 16, 2024
Insights
Blue Star Foods' reiteration of its 2024 forecast with
Blue Star's focus on ESG and sustainable seafood aligns with growing consumer trends, potentially positioning them well in the market. The company's diversification across military contracts, land-based salmon farming and soft-shell crab operations could provide multiple revenue streams. However, the lack of concrete market share data or competitive analysis makes it difficult to gauge their true market position. The planned AI and UV technology for crab molting identification is innovative, but its impact on operations and market advantage needs further clarification. The company's acknowledgment of stock underperformance suggests potential investor concerns that may require more transparent communication and detailed operational updates to address.
Blue Star's plan to integrate AI and UV light technology in soft-shell crab operations is intriguing. This innovation could potentially streamline the molting crab identification process, improving efficiency and reducing labor costs. However, the announcement lacks technical details on implementation, expected efficiency gains, or how this technology compares to current industry standards. The success of this initiative will depend on factors such as the accuracy of the AI algorithms, the effectiveness of UV light in identifying molting crabs and the system's scalability. While promising, more information is needed to assess the true impact of this technology on Blue Star's operations and its potential to create a significant competitive advantage in the seafood industry.
Miami, FL, Sept. 06, 2024 (GLOBE NEWSWIRE) -- Blue Star Foods Corp., (“Blue Star,” the “Company,” “we,” “our” or “us”) (NASDAQ: BSFC), an integrated Environmental, Social, and Governance (ESG) sustainable seafood company with a focus on Recirculatory Aquaculture Systems (RAS), today announced that are no material changes in its business and that it reiterates its previously issued 2024 forecast of at least
This forecast is based on a current pipeline of existing and additional business that remains strong, and is supported by the following:
- Initiated roll-out gourmet meals made in USA for U.S. Military.
- Currently harvesting weekly at the land-based steelhead salmon farm.
- Increasing inventory levels in anticipation of revenue acceleration.
- Launched plans to improve its soft-shell crab operations by introducing cutting-edge technology that combines Artificial Intelligence (AI) with Ultraviolet (UV) light technology to revolutionize the industry’s standard molting crab identification process.
John Keeler, Chairman and CEO of Blue Star Foods, commented, “For those investors that asked, “What is going on and what is happening?” We are confident in our business and know of no specific reason why our stock has underperformed, since we withdrew our S-1 Registration Statement on August 16, 2024 and subsequently strengthen our balance sheet by paying off
About Blue Star Foods Corp. (NASDAQ: BSFC)
Blue Star Foods Corp. an integrated Environmental, Social, and Governance (ESG) sustainable seafood company with a focus on Recirculatory Aquaculture Systems (RAS) that processes, packages and sells high-value seafood products. The Company believes it utilizes best-in-class technology, in both resource sustainability management and traceability, and ecological packaging. The Company also owns and operates the oldest continuously operating Recirculating Aquaculture System (RAS) full grow-out salmon farm in North America. The company is based in Miami, Florida, and its corporate website is: https://bluestarfoods.com
Forward-Looking Statements:
The foregoing material may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. Forward-looking statements include all statements that do not relate solely to historical or current facts, including without limitation statements regarding the Company’s product development and business prospects, and can be identified by the use of words such as “may,” “will,” “expect,” “project,” “estimate,” “anticipate,” “plan,” “believe,” “potential,” “should,” “continue” or the negative versions of those words or other comparable words. Forward-looking statements are not guarantees of future actions or performance. These forward-looking statements are based on information currently available to the Company and its current plans or expectations and are subject to a number of risks and uncertainties that could significantly affect current plans. Risks concerning the Company’s business are described in detail in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, and other periodic and current reports filed with the Securities and Exchange Commission. The Company is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Contacts:
investors@bluestarfoods.com
FAQ
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