Better Choice Company Inc. - BTTR STOCK NEWS

Better Choice Company (NYSE: BTTR) has announced an increase in the capital stock distribution of Halo, Purely for Pets, from 8% to 17% dividend as part of its acquisition of SRx Health Solutions. The transaction, which is expected to close in Q1 2025, remains subject to customary closing conditions, including required shareholder approvals from both companies.

Better Choice Company reported strong Q3 2024 results with significant growth across key metrics. Revenue increased 33% quarter-over-quarter to $11.4 million, while gross margin improved 591 basis points year-over-year to 40%. The company achieved net income of $1.5 million, marking a 194% increase year-over-year, with EPS growing 132% to $0.73. Notable achievements include a $2.6 million gain on debt extinguishment and Adjusted EBITDA growth of 255% to $0.2 million. The company saw double-digit growth in Digital customers and 9% growth in International channels, particularly in the Asia-Pacific region. This marks the company's first profitable quarter in over four years.

Better Choice Company (NYSE: BTTR), a pet health and wellness company, has announced its participation in the upcoming Sidoti Micro Cap 2024 Virtual Conference. The company's management will present on Wednesday, November 13, 2024, at 10:00 a.m. ET. The presentation will be accessible via webcast, and management will be available for one-on-one meetings throughout the conference. Interested parties can schedule meetings through their Sidoti representative or by contacting KCSA directly.

Better Choice Company (NYSE: BTTR) announced it will host a conference call and webcast on Tuesday, November 12, 2024, at 4:30 p.m. ET to discuss its third quarter 2024 financial results and provide a business update. The live call will be accessible via 1-888-348-8935 or 1-412-317-0454. A webcast replay will be available for 90 days on the company's website under the 'Events & Presentations' section.

Better Choice Company (NYSE: BTTR) is progressing towards acquiring SRx Health Solutions Inc. for approximately $125 million in an all-stock transaction. The combined entity aims to become a leading global health and wellness company, providing solutions for pets, people, and families. Key points:

1. Expected 2025 combined revenue: +$270 million
2. Expected 2025 combined EBITDA: +$10 million
3. Better Choice net tangible book value: $4.07 per share
4. Better Choice net current asset value: $3.94 per share
5. Transaction closing: Late Q4 2024 or early Q1 2025

The merger is projected to generate significant cash flow, operational efficiencies, and cost savings. Better Choice's Halo brand achieved $49 million in gross sales in 2023, while SRx Health generated CAD$180 million in revenue with positive adjusted EBITDA in 2023.

Better Choice Company (NYSE: BTTR) is progressing towards acquiring SRx Health Solutions Inc. for approximately $125 million in an all-stock transaction. The combined entity aims to become a leading global health and wellness company, providing solutions for pets, people, and families. Key highlights include:

- Expected 2025 combined revenue of $270+ million and EBITDA of $10+ million
- Better Choice's net tangible book value at $4.07 per share
- Transaction expected to close in late Q4 2024 or early Q1 2025
- Better Choice's Halo brand achieved $49 million in gross sales for 2023
- SRx Health generated CAD$180 million in revenue with positive adjusted EBITDA in 2023
- Combined trailing twelve-month revenue of $235 million, growing 25% quarter-over-quarter
- Anticipated annual cost savings of $1.7 million post-integration
- Plans to expand into veterinary medicine with Better Pet Rx initiative in 2025

Better Choice Company (NYSE: BTTR) has announced plans to expand into veterinary medicine in 2025 following the acquisition of SRx Health. The new initiative, named Better Pet Rx, will focus on providing care for pets. This expansion aligns with Better Choice's vision of becoming a leading global health and wellness company for both humans and pets.

The acquisition of SRx Health will allow Better Choice to leverage their expertise, existing relationships with pharmaceutical companies, and infrastructure to complement its Halo portfolio of premium pet food products. The company sees animal pharmaceuticals as a key growth area within the pet care industry.

Better Choice will provide more details about the transaction during a Shareholder Update Call scheduled for October 15th at 4:30 PM Eastern Time.

Better Choice Company (NYSE: BTTR) and SRx Health Solutions Inc. will host a shareholder update call on October 15, 2024 at 4:30 PM EST. The call will provide updates on Better Choice's acquisition of SRx Health, announced in early September 2024. The all-stock transaction, valued at approximately $125 million, will bring SRx Health's extensive Canadian specialty pharmacy network under Better Choice's umbrella.

SRx Health operates 35 specialty pharmacy locations, 40 specialty health/infusion clinics, 4 clinical trial sites, and 2 wholesale distribution facilities across Canada. In 2023, SRx Health generated CAD$161.5 million in revenue, with a projected increase of over 20% to CAD$200 million for the fiscal year ending September 30, 2024. Management expects similar growth for fiscal year 2025.

The shareholder call will provide the investment community with transaction details, which is expected to close in the coming months.

Better Choice Company (NYSE: BTTR) announced its participation in the Sidoti Virtual Conference on November 13-14, 2024, where it will provide an update on its ongoing acquisition of SRx Health. SRx Health's revenue for the fiscal year ending September 30, 2024, is expected to increase over 20% year-over-year to over CAD$200 million. The company anticipates similar revenue growth for fiscal 2025.

Michael Young, Chairman of Better Choice, expressed satisfaction with SRx Health's preliminary revenue growth and noted the robust pipeline heading into fiscal 2025. He highlighted the substantial investor appetite for stable, growing, and predictable businesses in the healthcare space. The acquisition of SRx Health remains on track, with Better Choice looking forward to closing the transaction in the coming months.