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) announced a new order for dried sliced Shiitake mushrooms to be exported to New York. CEO Yefang Zhang highlighted this achievement as part of the company's strategy to leverage its brand and supply chain for growth in key markets. The United States is noted as a significant market where demand for fungi is increasing. Farmmi aims to boost order size and volume in the U.S. and other key regions, indicating potential for further expansion in its operations.
Farmmi, Inc. (NASDAQ: FAMI) announced a new order for dried Shiitake mushrooms from its subsidiary Zhejiang Farmmi Biotechnology, destined for export to Dubai. Chairwoman and CEO Yefang Zhang noted a rebound in customer demand, contributing to increased order sizes. The company has navigated supply chain challenges during COVID-19, strengthening long-term customer relationships.
Farmmi, Inc. (NASDAQ: FAMI), a supplier of agricultural products in China, announced a repeat order from a customer for its dried Shiitake mushrooms, which will be exported to Jordan. CEO Yefang Zhang highlighted the company's commitment to meeting global demand for high-quality agricultural products. Established in 1998, Farmmi specializes in Shiitake mushrooms and other edible fungi, with sales conducted both offline and online. This new order reflects the company's ongoing success in international markets.
Farmmi, Inc. (NASDAQ: FAMI), a Chinese agriculture products supplier, announced a repeat order for dried sliced Shiitake mushrooms from a long-term customer, destined for export to Israel. The global mushroom market, valued at US$46.1 billion in 2020, is projected to grow at a CAGR of 9.5% through 2028, driven by increasing demand for protein-rich diets. CEO Yefang Zhang emphasized the company's growth strategy through existing and new markets, highlighting strong demand for their products and beneficial customer relationships.
Farmmi, Inc. (NASDAQ: FAMI) reported significant financial growth for the fiscal year 2021, achieving a 39% increase in revenue to $39.29 million compared to 2020. Net income surged 188% to $2.36 million, and total stockholders' equity rose to $159.9 million. Gross profit expanded by 10% to $5.11 million, despite a decline in gross margin to 13%. The company emphasizes its improved financial stability amid ongoing supply chain challenges, bolstered by its diversification strategy in agricultural products.
Farmmi, Inc. (NASDAQ: FAMI) announced a follow-on product order for dried Shiitake mushrooms from its subsidiary Zhejiang Farmmi Biotechnology, aimed at export to Vancouver, Canada. According to Chairwoman and CEO Yefang Zhang, customer activity has increased, reflecting strong demand tailwinds from the previous year. The company emphasizes effective supply chain management to meet higher demand and larger orders. Farmmi is optimistic about its growth prospects for 2022, having improved its balance sheet in 2021 to support accelerated expansion.
Farmmi, Inc. (NASDAQ: FAMI) has been awarded the municipal-level key agricultural leading enterprise designation by the government, along with a monetary award. This recognition was announced on January 6, 2022, emphasizing Farmmi's significant investment in the agriculture sector, which has aided local economies and created jobs. Chairwoman and CEO Yefang Zhang highlighted the company's integrated platform and resilience during COVID-19, expressing optimism for growth and diversification in the new year. Farmmi aims to enhance agricultural services and promote sustainable development in Lishui City.
Farmmi, Inc. (NASDAQ: FAMI), an agricultural products supplier in China, announced a new repeat order for dried mushroom slices from a long-term customer. This order will be exported to Southampton, England. Chairwoman and CEO Yefang Zhang emphasized the significance of this win in continuing the company's sales growth trajectory, attributed to enhanced investments in sales and marketing and strong supply chain relationships. The order exemplifies Farmmi's strategy to support customers across its product line, aiming to increase revenue per customer and strengthen long-term relationships.
Farmmi, Inc. (NASDAQ: FAMI) announced a repeat order for its dried Shiitake mushrooms from its subsidiary, Zhejiang Farmmi Biotechnology Co., Ltd., destined for export to Jordan. CEO Yefang Zhang emphasized ongoing sales momentum, crediting repeat orders to the product's quality and ability to meet inventory demands. The company is experiencing growth through existing customer expansion and new client engagements, projecting a sustained high sales rate into 2022 due to favorable market conditions.
Farmmi, Inc. (NASDAQ: FAMI), an agriculture products supplier in China, has received its annual Kosher certification in Israel for the seventh consecutive year. Additionally, both Zhejiang Farmmi Biotechnology Co., Ltd. and Zhejiang Farmmi Food Co., Ltd. were recognized as Sunshine Factories by the Zhejiang Provincial government, reflecting their advancements in intelligent food production and processing technologies. These certifications enhance Farmmi's market position and open up new revenue opportunities, particularly within the Kosher market, which caters to health-conscious consumers.
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