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Flow Beverage Corp (FLWBF) is a leading player in the beverage industry, specializing in the production and distribution of premium alkaline spring water. The company's core business revolves around providing health-conscious consumers with high-quality, naturally alkaline water sourced from sustainably managed springs. With a commitment to environmental sustainability, Flow Beverage Corp emphasizes eco-friendly packaging and supports social initiatives to give back to communities in need. Recent achievements include expanding their product line to include flavored alkaline water options, entering new markets through strategic partnerships, and achieving strong financial performance driven by consumer demand for healthier beverage alternatives. Through innovative marketing campaigns and a focus on wellness, Flow Beverage Corp continues to grow its presence in the competitive beverage market.
Flow Beverage Corp. (TSX:FLOW; OTCQX:FLWBF) is launching Flow Sparkling Mineral Spring Water in Canada in October 2024, followed by a U.S. rollout. The new product line features:
- 300ml aluminum bottles made from 70%+ recycled aluminum
- Four variants: OG (unflavored), Blackberry + Hibiscus, Lemon + Ginger, and Cucumber + Mint
- Zero sugar and zero calories
- Organic-certified flavors
The innovative packaging uses 30% less aluminum than competing formats and requires 60% less energy to produce. Flow is also installing a new production line for in-house aluminum bottle packing and co-packing services.
Flow Beverage Corp. (TSX:FLOW; OTCQX:FLWBF) has expanded its manufacturing agreement with BeatBox Beverages, increasing the minimum total revenue under contract to $213 million from $115 million. The agreement's term has been extended from five to six years. Flow plans to add two production lines at its Aurora facility over the next 12 months to meet increased demand.
As part of the amended agreement, BeatBox has committed to purchasing a $2 million convertible note from Flow by October 31, 2024. The note will bear 10% annual interest and be convertible into Flow's subordinate voting shares at $1.00 per share. This expansion aligns with Flow's profitability and cash flow goals for fiscal 2024 while maintaining its commitment to environmental and social values.
Flow Beverage Corp. (FLWBF) reported its Q2 2024 financial results, revealing a net revenue of $12.1 million, down 14% from Q2 2023. Flow brand net revenue declined by 26% to $7 million due to the exit of unprofitable partnerships. However, co-packing revenue grew by 12%. The company achieved a gross margin of 28%, improved from 18% in Q2 2023. Adjusted EBITDA loss was reduced to $3.5 million from $6.6 million in Q2 2023. CEO Nicholas Reichenbach credits restructuring efforts and a focused operating model for these improvements. Flow aims to achieve positive Adjusted EBITDA and cash flow by Q4 2024.
Flow Beverage Corp. (TSX:FLOW; OTCQX:FLWBF) will release its financial results for the second quarter of fiscal 2024 after market close on June 14, 2024.
A press release detailing these results will be issued before market open on June 17, 2024.
Additionally, a conference call and webcast hosted by Chairman and CEO Nicholas Reichenbach and CFO Trent MacDonald will take place on June 17, 2024, at 8:30 a.m. ET to discuss the financial results and provide a business outlook.
Investors can dial in using Conference ID 01170 or access the webcast through a provided link.
A replay of the call will be available until July 17, 2024.
Flow Beverage Corp. (TSX:FLOW; OTCQX:FLWBF) will participate in the Lytham Partners Spring 2024 Investor Conference on May 30, 2024. The event will be virtual, featuring a webcasted presentation and one-on-one meetings with investors.
The presentation, hosted by CFO and EVP of Operations Trent MacDonald, will occur at 1:15 p.m. ET and be accessible live and for replay. Investors can arrange one-on-one virtual meetings by contacting Lytham Partners or registering on the event's website.
Flow Beverage Corp. (TSX: FLOW, OTCQX: FLWBF) announced that Trent MacDonald, CFO and EVP Operations, will present at Water Tower Research's inaugural Consumer Products Virtual Investor Conference on June 5 and 6, 2024. MacDonald is scheduled to give a virtual presentation on June 5 at 10:30am ET and will be available for one-on-one meetings. The conference will feature presentations from various branded consumer products companies and will be hosted by Doug Lane, WTR's Head of Consumer Products. Investors can attend the conference online for free by registering through the provided link.
Flow Beverage Corp. announced the results of its annual general meeting, with over 72 million votes cast, approving all matters, including the election of five director nominees. Shareholders also approved the reappointment of Ernst & Young LLP as the auditor and the amendment to the Company's incentive plan.
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