Flow Beverage Stock Price, News & Analysis

Flow Beverage Corp (TSX:FLOW; OTCQX:FLWBF) has announced changes to its Board of Directors. Joseph Mimran, a prominent figure in fashion and design, has been appointed to the Board and will serve on both the Audit Committee and Governance, Human Resources & Compensation Committee. Simultaneously, Joe Jackman has resigned from the Board. Mimran, known for creating brands like Joe Fresh and Club Monaco, brings significant brand-building expertise as the company continues its strategic transformation toward a capital-efficient operating model focused on profitable growth.

Flow Beverage Corp has closed a US$2 million secured convertible note private placement with BeatBox Beverages, their co-packing partner. The note matures in 2029 with a 10% annual interest rate and is convertible to shares at $1.00 per share. The proceeds will fund expansion at Flow's Aurora facility, adding two production lines. Flow has amended its manufacturing agreement with BeatBox, extending it from five to six years and increasing minimum revenue from $115 million to $213 million. This expansion aims to meet increased co-manufacturing demand from BeatBox and accommodate Flow brand growth.

Flow Beverage Corp (TSX:FLOW; OTCQX:FLWBF) is set to participate in the Lytham Partners Fall 2024 Investor Conference on October 1, 2024. The event will feature a webcasted presentation and one-on-one investor meetings, both hosted by Trent MacDonald, Flow's Chief Financial Officer and EVP of Operations.

The webcasted presentation is scheduled for 2:00 p.m. ET on October 1, 2024. Investors can access the webcast through the conference home page or via a direct link. A replay of the webcast will be available after the event.

To arrange one-on-one meetings with Flow's management during the conference, interested parties can contact Lytham Partners or register for the event through the provided links.

Flow Beverage Corp. (TSX:FLOW; OTCQX:FLWBF) reported its Q3 2024 financial results, showing significant improvements in profitability. Consolidated net revenue increased 5% to $13.8 million, while gross margin improved to 34% from 3% in Q3 2023. The company's Adjusted EBITDA Loss decreased to $1.9 million from $10.7 million in Q3 2023. Flow's operational transformation is delivering financial improvements, with co-pack business scaling rapidly and operating expenses at more sustainable levels. The company expects to reach positive Adjusted EBITDA by Q4 2024 and anticipates a return to Flow brand growth in Q1 2025.

Flow Beverage Corp. (TSX:FLOW; OTCQX:FLWBF) has announced the release of its third quarter fiscal 2024 financial results on September 16, 2024, after market close. The company will host a conference call and webcast on September 17, 2024, at 8:30 a.m. ET to discuss the results and provide a business outlook.

Key participants in the call will be Nicholas Reichenbach, Chairman and CEO, and Trent MacDonald, CFO and EVP Operations. Investors and analysts can join via phone or webcast, with replay options available until October 17, 2024.

Flow Beverage Corp. (TSX:FLOW; OTCQX:FLWBF) has announced a sponsorship agreement with the Toronto International Film Festival (TIFF) for 2024 and 2025, becoming the exclusive hydration partner for still and sparkling water categories. The 49th TIFF, taking place from September 5 to 15, 2024, is expected to attract over 650,000 attendees.

Flow will launch its new Sparkling Mineral Spring Water at TIFF in August 2024, available in 300ml aluminum bottles with 75% recycled content. The water will come in OG and three flavors: Blackberry + Hibiscus, Lemon + Ginger, and Cucumber + Mint. To celebrate, Flow is running an e-commerce pre-order contest offering VIP TIFF screening experiences as prizes.

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.