Welcome to our dedicated page for Farmmi news (Ticker: FAMI), a resource for investors and traders seeking the latest updates and insights on Farmmi stock.
Farmmi, Inc. (NASDAQ: FAMI) is a well-established supplier, processor, and retailer of agricultural products, specializing in edible mushrooms such as Shiitake and Mu Er, alongside other agricultural products. Founded in 1998, the company has expanded its reach by selling products both online and offline. Farmmi's offerings are known for their high quality, making them popular both within mainland China and internationally.
Recently, Farmmi announced a significant high-volume order for the UK market, half of which is for new customers. This order includes dried and sliced mushrooms, showcasing the company's growing global footprint. Farmmi's strong manufacturing, supply chain, and logistics partnerships have helped contain costs and combat inflation, thereby maintaining stable pricing for its customers. The company aims to use this momentum to further solidify its global brand and achieve profitable revenue growth.
For the six months ending March 31, 2023, Farmmi reported record revenue driven by new growth segments. This achievement came despite a challenging supply chain and logistics environment. The company’s focus on its core agricultural products, combined with new ventures into tapioca and cornstarch trading, underscores its ambition to establish a scalable platform for matching suppliers and customers.
In September 2023, Farmmi shareholders approved a one-for-eight share consolidation to regain compliance with Nasdaq listing requirements. This move is expected to help the company maintain its market presence while continuing to focus on long-term growth and value creation for its shareholders.
Farmmi has also made strides in expanding its customer base in emerging markets. The company received repeat high-volume orders for its dried Shiitake mushrooms from customers in Lebanon, Chile, Canada, and Jordan, among others. These orders highlight Farmmi's commitment to customer support and its ability to leverage local sales and distribution networks effectively.
Overall, Farmmi's robust business model, diversified product portfolio, and strategic market expansions position it well for future growth. The company's strong financial health, exemplified by a cash balance of $69.4 million as of March 31, 2023, and successful handling of operational challenges, further bolster its growth prospects.
Farmmi, Inc. (NASDAQ: FAMI), an agriculture products supplier in China, announced a new shipment of shiitake mushrooms from its subsidiary Zhejiang Forest Food Co., Ltd. to a long-term customer with over 100 retail stores in China and Canada. This order signifies a strong start to 2021, highlighting the company’s reputation for quality and potential revenue growth. CEO Yefang Zhang emphasized their commitment to meeting increased demand and strengthening customer relationships.
Farmmi, Inc. (NASDAQ: FAMI) has announced the shipment of a follow-on order for dried mushrooms and black fungus to a long-term customer in Jordan. Chairwoman and CEO Yefang Zhang highlighted the company's growing momentum, driven by changes in the sales force and targeted growth strategies implemented in 2019 and 2020. The company anticipates further acceleration in growth throughout 2021 as it scales its sales force and enhances customer interactions.
Farmmi, Inc. (NASDAQ: FAMI) announced a new export order for dried mushrooms from a long-term customer, targeting the Dubai market. Chairwoman and CEO Yefang Zhang highlighted the company's continuous expansion driven by a diverse customer base and a strong presence in both domestic and international markets, including Japan and North America. The company emphasizes health-conscious trends benefiting its sales initiatives developed in 2020, aiming to further penetrate global markets.
Farmmi, Inc. (NASDAQ: FAMI) reported a fiscal year 2020 net income of $0.82 million, or $0.05 per share, compared to a net loss of $0.31 million, or $0.03 per share in the previous year. Despite a revenue decline of 2.19%, totaling $30.17 million, the company managed to grow its customer base, with one customer now accounting for over 10% of total revenue. Key product revenue highlights included a 5.51% increase in Mu Er sales while Shiitake sales decreased by 6.77%. Farmmi aims for future growth by diversifying its customer base and expanding international sales.
Farmmi, Inc. (NASDAQ: FAMI), an agricultural products supplier in China, is expanding its international sales with a new multi-product order of dried Shiitake mushrooms to Israel through its subsidiary, Zhejiang Forest Food Co., Ltd. CEO Yefang Zhang emphasized the importance of this order in diversifying their sales base and increasing their global presence. The Company continues to focus on leveraging its product line and marketing efforts to build momentum throughout the year.
Farmmi, Inc. (NASDAQ: FAMI) has announced the launch of its Chinese New Year mushroom gift boxes via its subsidiary, Zhejiang Forest Food Co., Ltd. The company has begun receiving orders, including a significant one from a long-term customer operating over 100 retail stores in China and Canada. Farmmi's Chairwoman, Yefang Zhang, emphasized that the gift boxes, designed to symbolize health and prosperity, have received a positive customer response, with expectations for additional orders leading up to the holiday period.
Farmmi, Inc. (NASDAQ: FAMI), an agricultural products supplier based in China, announced on January 11, 2021, that it has regained compliance with NASDAQ's minimum bid price requirement under Listing Rule 5550(a)(2). NASDAQ confirmed that this matter is now closed, allowing the company to continue its trading on the exchange. Farmmi specializes in the supply, processing, and retail of Shiitake mushrooms and other agricultural products. The company is committed to following regulations and maintaining its listing status.
Farmmi, Inc. (NASDAQ: FAMI) announced a follow-on order for dry mushrooms from Zhejiang Forest Food Co., Ltd., a key subsidiary. This order comes from a multi-channel customer operating over 100 retail stores in China and Canada. Chairwoman and CEO Yefang Zhang expressed optimism for 2021, citing previous achievements in partnerships and innovation that enhance growth prospects. The company emphasizes its commitment to meeting the rising demand for quality agricultural products, particularly in the context of increased wellness trends driven by the pandemic.
Farmmi, Inc. (NASDAQ: FAMI) has received the Ecological High-Quality Agricultural Product designation for its Lishui Shangeng branded black fungus and dried mushrooms from the Lishui Municipal Government. This recognition underscores product excellence and aligns with the company's commitment to quality. Chairwoman Yefang Zhang expressed optimism for 2021, citing growth in demand for healthier food options and competitive advantages through investments in automation and logistics. Farmmi aims to foster a robust supply chain, which may lead to poverty alleviation and rural revitalization while strengthening its brand presence.
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