Welcome to our dedicated page for Edible Garden Incorporated news (Ticker: EDBL), a resource for investors and traders seeking the latest updates and insights on Edible Garden Incorporated stock.
Edible Garden AG Incorporated (EDBL) is a pioneering force in the field of controlled environment agriculture (CEA). Utilizing both traditional and advanced agricultural techniques, the company focuses on growing fresh, organic food sustainably and safely, while enhancing traceability. Headquartered in Belvidere, New Jersey, and Grand Rapids, Michigan, Edible Garden operates state-of-the-art greenhouses and processing facilities.
The company stands out with its Zero-Waste Inspired® next-generation farming approach, which emphasizes sustainability and safety. Edible Garden's products are available in over 5,000 stores across the United States, making it a significant player in the CEA and sustainability technology sector. The company employs patented technologies like the GreenThumb 2.0 software (US Nos.: US 11,158,006 B1, US 11,410,249 B2, and US 11,830,088 B2) for optimizing growth in vertical and traditional greenhouses, as well as a self-watering display (U.S. Patent No. D1,010,365) designed to increase plant shelf life and enhance in-store display.
Edible Garden is not just about growing food; it is also a developer of plant and whey protein powders under the Vitamin Way® and Vitamin Whey® brands. Additionally, the company offers a line of sustainable food flavoring products, including Pulp gourmet sauces and chili-based products.
The company's commitment to reducing pollution-generating food miles is evident in its strategic network of contract growers located near major U.S. markets. This ensures that their organic herbs and lettuces, grown in controlled environments like hydroponic and vertical greenhouses, are always fresh and local.
Edible Garden's innovative approach and robust safety protocols have not only earned it a dedicated customer base but also positioned it as a disruptor in the CEA and sustainability technology landscape. For more information, visit Edible Garden AG.
Edible Garden (Nasdaq: EDBL) reported a significant 51% year-over-year increase in preliminary sales during the Thanksgiving period of 2024. The company, which specializes in controlled environment agriculture and sustainable produce, maintained an industry-leading fulfillment rate exceeding 98%. CEO Jim Kras attributed this record-breaking performance to the company's focus on its complete herb line and core strengths, positioning Edible Garden as an innovative leader in sustainable and organic products. The company's Zero-Waste Inspired® mission and commitment to locally sourced products continue to strengthen relationships with retail partners while creating opportunities for distribution network expansion.
Edible Garden (Nasdaq: EDBL) announced its participation in the 2024 New York Produce Show and Conference, where it will showcase its USDA Organic herbs and produce at Booth 146 on December 11, 2024. The company will introduce its new Pickle Party kosher, Non-GMO product line, developed in collaboration with Hermann Pickle Company.
The company aims to capitalize on the fresh condiments market, which is projected to grow from $172.8 billion in 2021 to $240.7 billion by 2028. Edible Garden's product portfolio includes sustainable, USDA Organic, raw, and fermented product lines such as Pulp, Squeezables, and Pickle Party, targeting consumers seeking clean-label, better-for-you products.
Edible Garden (Nasdaq: EDBL) has expanded its USDA Organic herb distribution to additional Key Food, City Supermarket, and Lincoln Market locations across the New York Metropolitan Area. The expansion includes more than a dozen locally grown organic herbs, such as basil, cilantro, and parsley.
The company reported significant growth in its core business, with cut herb sales increasing by 55% in the first nine months of 2024 compared to the same period in 2023. This expansion aligns with Edible Garden's mission as 'The Flavor Maker' to deliver fresh, flavorful herbs while maintaining commitment to quality and sustainable farming practices.
Edible Garden AG (Nasdaq: EDBL) has appointed Dario Pressimone as Vice President of Digital and E-Commerce. With over 20 years of experience in digital marketing, Pressimone brings expertise from previous roles at Macy's and Bed Bath & Beyond. He will lead the company's e-commerce and digital marketing initiatives, focusing on expanding online presence and customer engagement. His appointment aligns with Edible Garden's strategy to strengthen its position in the digital marketplace, including recent efforts like the launch of consumer-packaged goods on Walmart Marketplace and Amazon.
Edible Garden reported strong financial performance with a 324% increase in gross profit to $1.7 million for the first nine months of 2024. The company's strategic shift from lower-margin floral and lettuce products led to a 27% gross profit margin expansion in Q3 2024. Cut herbs sales grew 55% year-over-year for the first nine months. Q3 2024 revenue was $2.6 million, down from $3.3 million in Q3 2023. The company raised $5.65 million through an S1 offering, using $3.2 million to pay down debt. Edible Garden expanded its partnership with Walmart, introducing Hydro Basil and launching Vitamin Whey products on Walmart Marketplace.
Edible Garden AG (Nasdaq: EDBL) has announced the appointment of James Beard Award-winning Chef JJ Johnson as Culinary Advisor. Chef JJ, known for his restaurants including FIELDTRIP and Blue Llama Jazz Club, will collaborate with the company to develop new product lines and create innovative flavor profiles. The partnership aims to enhance Edible Garden's USDA Organic herbs and produce offerings while advancing their Zero-Waste Inspired® mission. Chef JJ brings his expertise in West African and Caribbean cuisine, along with his commitment to sustainability and food equity, to help position Edible Garden as 'The Flavor Maker' in sustainable agriculture.
Edible Garden (Nasdaq: EDBL) has announced a conference call scheduled for Wednesday, November 13, 2024, at 8:00 AM Eastern Time to discuss their third quarter 2024 financial results and provide a business update. The call will be accessible via toll-free telephone numbers for both U.S. and international callers. A webcast will be available through the company's investor relations website, with replay access through November 13, 2025. Telephone replay will be available until November 27, 2024.
Edible Garden (Nasdaq: EDBL) has completed an additional production line at its Heartland facility in Grand Rapids, Michigan, significantly expanding its Midwest production capabilities. The expansion includes advanced processing capabilities and is expected to enhance company margins. The company has integrated its patented GreenThumb greenhouse management system and installed high-speed packing lines to improve product traceability and supply chain efficiency. This expansion aims to meet increased holiday season demand, support future growth, and reduce dependency on third-party suppliers. The company is transitioning toward higher-margin fresh produce by phasing out legacy floral operations acquired with the facility.
Edible Garden (Nasdaq: EDBL) has received grants from the USDA Organic Certification Program to support organic certification costs and R&D at its Belvidere, New Jersey, and Grand Rapids, Michigan facilities. The funding, administered by the Farm Service Agency, will help offset expenses related to achieving and maintaining organic certification, as well as processing and handling certifications. The company plans to utilize these funds for new product innovation while advancing its Zero-Waste Inspired® mission in sustainable agriculture.
Edible Garden AG (Nasdaq: EDBL) is hosting a 'Pickle Party' at the 2024 Global Produce & Floral Show in Atlanta, Georgia, on October 18th-19th. The company is introducing its sustainable, kosher, Non-GMO Pickle Party product line, leading the way in the fresh condiments category with cleaner and better-for-you ingredients.
Edible Garden's CEO, Jim Kras, highlighted the company's focus on cleaner labels and healthier ingredients, addressing consumer demand for fresh, flavorful, and sustainable condiment options. The company's product lines, including Pulp, Squeezables, and Pickle Party, are redefining the condiment space with USDA Organic, raw, and fermented offerings.
The Global Produce & Floral Show attracts over 20,000 participants from all 50 U.S. states and more than 50 countries, providing Edible Garden with a platform to showcase its innovative products and expand its market presence.
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