Better Choice Co Inc. - BTTR STOCK NEWS

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.

Better Choice Company (NYSE: BTTR), a pet health and wellness company, announced its participation in the 2024 ThinkEquity Conference on October 30th at the Mandarin Oriental Hotel in New York City. The company will provide updates on its international sales performance and the ongoing acquisition of SRx Health.

Key highlights include:

• Continued sales growth in China, with a 37% sequential increase in Q2 2024 compared to Q1 2024
• International sales account for approximately 28% of Better Choice's total revenue
• China remains a key market for expansion, with the Halo brand gaining recognition and winning industry awards
• The SRx Health acquisition is progressing as planned

Better Choice Company (NYSE American: BTTR) announced that board members and senior management of SRx Health Solutions Inc. have purchased 10,000 shares of Better Choice common stock in the open market. Additionally, Better Choice has activated its share repurchase program and has been buying shares amid market volatility.

Adesh Vora, SRx Health Founder and CEO, stated that they believe Better Choice is undervalued and their investment demonstrates confidence in the combined businesses, growth prospects, operational excellence, and strong cash flow. The company is committed to enhancing shareholder value and will continue to be opportunistic with share repurchases.

Better Choice Company (NYSE American: BTTR) has provided shareholders with an update on its pro-forma and as-adjusted balance sheet. The company reported a 6% increase in Pro Forma Adjusted Net Tangible Book Value Per Share (NTBVPS) to $4.07 and a 16% increase in Pro Forma Adjusted Net Current Asset Value Per Share (NCAVPS) to $3.94. These figures are based on the company's financial position as of June 30, 2024, and take into account the recent public offering and a settlement agreement with Alphia, Inc.

The company also highlighted its pending acquisition of SRx Health Solutions Inc., which is expected to close in Q4 2024, subject to stockholder approvals and other customary conditions. Better Choice's Chairman, Michael Young, expressed optimism about the potential additional value this acquisition could bring to shareholders.

Better Choice Company (NYSE American: BTTR) has signed a definitive agreement to acquire SRx Health Solutions Inc. for approximately $125 million in an all-stock transaction. This acquisition will transform Better Choice into a leading global health and wellness company, combining its pet products with SRx Health's specialty pharmacy network in Canada. Key highlights include:

- Combined company net revenue of ~$95 million for H1 2024
- Projected 2025 revenue of $270+ million and EBITDA of $10+ million
- SRx Health's 2023 performance: C$161.5 million revenue and C$11.4 million pro forma Adjusted EBITDA
- Post-acquisition ownership: SRx 75%+, Better Choice shareholders 15%
- 8% dividend of Halo, Purely For Pets, Inc. stock to Better Choice shareholders

Better Choice Company Inc. (NYSE American: BTTR) reported strong Q2 2024 results, with net income increasing 190% to $2.7 million year-over-year. EPS grew 170% to $2.98, and Adjusted EBITDA improved 98% to nearly break-even. The company recognized a $3.6 million gain on extinguishment of debt. Revenue increased 8% to $8.5 million from Q1 2024, while gross margin improved 403 basis points to 38% year-over-year. Operating loss decreased 72% to $(0.7) million. The company's strategic shifts are showing positive results, with 27% growth in the International channel and 11% growth in the Digital channel. Better Choice is focusing on the Halo brand, targeting the $50 billion US & Canada pet food markets and the $30 billion Asia-Pacific region.

Better Choice Company (NYSE American: BTTR), a pet health and wellness company, has announced its upcoming Second Quarter 2024 Financial Results Conference Call. The event is scheduled for Tuesday, August 13, 2024, at 4:30 p.m. ET. Investors and interested parties can join the live call by dialing 1-844-826-3035 (US) or 1-412-317-5195 (international). Alternatively, a webcast will be available for those unable to join the conference call. The webcast replay will remain accessible for 90 days under the 'Events & Presentations' section of the company's website. This call will provide an opportunity for Better Choice to discuss its Q2 2024 financial performance and offer a business update to shareholders and analysts.