Better Choice Company Inc. - BTTR STOCK NEWS

Better Choice Company (NYSE American: BTTR) received a notice on July 9, 2024, from NYSE American , confirming the acceptance of the firm's plan to regain compliance with Sections 1003(a)(i) and (ii) of the Company Guide. The notice indicated that the company was not in compliance due to stockholders' equity of $1.1 million as of March 31, 2024, and losses from continuing operations in three of the last four fiscal years ended December 31, 2023.

The company's listing will continue under an extension with a target completion date of October 24, 2025. Better Choice will provide quarterly updates to NYSE American on its progress toward achieving compliance.

Better Choice Company (NYSE: BTTR) announced the retirement of substantial debt obligations and the settlement of litigation with Alphia. The Company will retire $5 million in senior secured debt plus $0.4 million in accrued interest and eliminate $5 million of other indebtedness at a 56% face value reduction within 90 days, saving up to $2.7 million. Additionally, 335,640 outstanding warrants with an $11.44 strike price have been retired. Michael Young, Chairman, highlighted that these actions position the Company for growth and profitability, reinforced by confidence in the leadership team.

Better Choice Company (NYSE American: BTTR) received a warning letter from NYSE Regulation for noncompliance with the NYSE American Company Guide.

The company failed to notify the exchange at least ten minutes prior to its first-quarter 2024 results announcement on May 17, 2024, as required by Section 401(a).

The warning was issued on May 21, 2024, as per Section 1009(a)(i) of the Company Guide.

Better Choice Company (NYSE American: BTTR) announced its Q1 2024 results, highlighting a 28% year-over-year improvement in EPS to $(3.60) and a 27% growth in Adjusted EBITDA to $(1.4) million, with an Adjusted EBITDA margin of (18)%. The company reported a net revenue of $7.9 million, primarily driven by its Halo Holistic® product line.

Net loss improved by 19% to $(2.8) million, and gross margin stood at 33%. The Halo Elevate line, launched on Chewy, gained consumer traction with an average rating of 4.6 stars. CEO Kent Cunningham emphasized the company's digital-first strategy and inventory optimization, reducing inventory levels by 50% over the past 15 months and achieving a 96% fill rate.

Despite a decline in net sales from $9.2 million to $7.9 million, the company has shown progress in operational efficiency and cost management. However, operating expenses remain high at $5.1 million, and interest expenses increased to $362,000. The company's assets decreased to $15.4 million from $16.7 million, with liabilities at $14.3 million.

Better Choice Company (NYSE: BTTR) is encouraged by the potential DEA reclassification of marijuana. The company's subsidiary, Bona Vida CBD Dog and Cat treats, remains a significant asset with promising benefits. Chairman Michael Young is optimistic about the evolving regulatory environment in the cannabis industry.

Better Choice Company Inc., a pet health and wellness company listed on NYSE American under the symbol BTTR, received a notice of noncompliance with NYSE American listing standards due to insufficient stockholders' equity and recurring losses. The company must submit a compliance plan by May 24, 2024, to address the deficiencies and risks potential delisting if not resolved by October 24, 2025.

Better Choice Company Inc. announces a stock repurchase program authorizing the repurchase of up to $5 million of its common stock until December 31, 2024. The program allows for repurchases through various methods, with decisions based on market conditions and financial performance.

Better Choice Company, Inc. reported strong financial results for the fourth quarter and full year 2023, with significant improvements in gross margin, adjusted EBITDA, and EPS. The company focused on operational discipline, strategic pricing initiatives, and profitability. Despite a decline in topline due to strategic shifts, Better Choice remains optimistic about future growth and brand equity enhancement.

Better Choice Company, Inc. (BTTR) initiates legal action to enforce a right of first refusal option exercised by Alphia, Inc., seeking over $19 million in damages. The company aims to compel the closing of the asset sale of its subsidiary, Halo, Purely for Pets, Inc., due to Alphia's alleged misconduct.