Welcome to our dedicated page for Muscle Maker news (Ticker: gril), a resource for investors and traders seeking the latest updates and insights on Muscle Maker stock.
Muscle Maker, Inc. (Nasdaq: GRIL), a prominent player in the global food supply chain sector, has undergone significant transformation and expansion over recent years. Originally focused on the U.S. restaurant business, Muscle Maker has evolved into a diversified, global food-focused organization, operating through its two main business units: Sadot LLC and the MMI Restaurant Group.
Sadot LLC, the company's largest operating unit, was formed in partnership with Aggia LLC FZ and focuses on international trading and shipping of food and feed commodities such as soybean meal, wheat, and corn. Recently, Sadot expanded its operations into North, Central, and South America, facilitated by a strategic agreement with Buenaventura Trading LLC. This expansion has significantly enhanced the company's geographic reach and strengthened its position in the global commodity trading industry.
The MMI Restaurant Group operates over 50 restaurants, including concepts such as Pokémoto Hawaiian Poké & Boba Tea and Muscle Maker Grill. These restaurants and the fresh-prep meal service, Superfit Foods, cater to the growing 'healthier-for-you' market segment. The National franchise development of Pokémoto is a key growth driver, with over 50 franchise units already in the 2023 pipeline.
Muscle Maker's achievements include its recent addition to the Russell Microcap® Index, reflecting the company's strategic advancements and financial performance, notably a 7000% increase in year-over-year top-line revenue in Q1 2023. The company's subsidiary, Sadot LLC, has generated over $500 million in total revenue since its inception in November 2022.
An essential part of Muscle Maker's growth strategy is its commitment to sustainability and innovation. The recent appointment of David Errington, an expert in the sustainability and environmental sector, to the Board of Directors underscores this commitment.
The company's financial condition remains robust, with positive net income and consistent revenue growth. The recent amendment to the services agreement with Aggia LLC FZ is expected to enhance profit potential by reducing non-cash stock-based expenses by 50%, thus improving bottom-line results.
Muscle Maker continues to grow in size, diversity of operations, and financial strength while maintaining its original principles of sourcing and providing healthier food options. For more information, please visit www.musclemakerinc.com.
Muscle Maker, Inc. (NASDAQ:GRIL) reported a top line revenue exceeding $58 million for February 2023, marking the fourth consecutive month with revenues above $50 million. The company's subsidiary, Sadot, played a significant role in this achievement, especially during a traditionally slower season. CEO Michael Roper expressed optimism about the results and indicated plans to release fully audited financials later this month, providing insights into the bottom line and future initiatives. This performance showcases the company's adherence to its strategic vision and operational execution.
Muscle Maker, Inc. (Nasdaq:GRIL) announced participation in the 35th Annual Roth Conference from March 12 to 14, 2023, in Dana Point, CA. CEO Michael Rope will engage in various industry panels and presentations alongside approximately 400 other companies. The event will feature one-on-one and small group meetings, analyst-selected discussions, and thematic panels across several growth sectors, including Health & Wellness and Technology. This participation highlights Muscle Maker's strategic positioning within the market and offers potential networking opportunities for growth.
Muscle Maker, Inc. (NASDAQ:GRIL) announced that it has regained compliance with Nasdaq's Listing Rule 5550(a)(2), which requires a minimum bid price of $1.00. Consequently, the Company has been removed from Nasdaq's non-compliance list. CEO Michael Roper stated this achievement is positive for shareholders. Muscle Maker operates several brands, including Muscle Maker Grill and Pokemoto, offering healthier food options through various channels, including meal prep services.
Muscle Maker, Inc. (NASDAQ:GRIL) announced that shareholders approved a Services Agreement between its subsidiary, Sadot LLC, and AGGIA LLC FZ. This partnership will enhance Sadot's operations in sustainable farming and agricultural commodity shipping. Under the agreement, AGGIA can earn up to 14,424,275 shares of the company's common stock based on performance metrics, requiring around $22.5 million in net income. Notably, Sadot has generated over $200 million in revenue within its first three months, demonstrating promising growth potential.
Muscle Maker, Inc. (NASDAQ:GRIL) has appointed Integrous Communications as its investor relations advisor. This strategic move aims to enhance financial communications and investor outreach as the company identifies growth opportunities in its business. CEO Michael Roper emphasizes the need to strengthen investor engagement, highlighting recent financial opportunities. Integrous will facilitate communication of corporate and financial updates to current and potential investors. With over 100 years of combined experience, Integrous aims to elevate Muscle Maker's presence in capital markets.
Muscle Maker, Inc. (Nasdaq: GRIL) announced impressive results from its subsidiary, Sadot LLC, which generated over $200 million in revenue within its first three months, including $58.5 million in January 2023 alone. This performance triggered the appointment of two new board members, Hannah Oh and Ray Shankar, effective March 1, 2023. The company's diversified strategy aims to expand into a global food entity, overseeing sustainable farming and agricultural commodity trading. The partnership with AGGIA has proven beneficial, as they were able to earn board nominations through achieving key financial milestones.
Muscle Maker, Inc. (GRIL) announced the appointment of Hannah Oh and Ray Shankar to its Board of Directors, effective March 1, 2023. CEO Michael Roper praised their extensive expertise, which is expected to drive growth as the Company marks over $150 million in revenue within the first 60 days of operations for its Sadot subsidiary in Q4 2022. Oh brings over 15 years of experience in agri-food leadership and sustainability, while Shankar specializes in family office advisory. This strategic addition fulfills performance terms noted in a recent 8-K filing.
Muscle Maker, Inc. (GRIL) has announced the signing of three new franchise agreements for its Pokemoto Hawaiian poke bowl restaurants, increasing its total franchise agreements to 60. The company is expanding into the Greater Houston area, known for its diverse cuisine and large population. Recently, Pokemoto also opened its first location in Highland Village, Texas. The franchise model generates up to $25,000 from initial fees and a 6% royalty on net sales. With openings in 16 states and ongoing franchising efforts, the brand aims to enhance its visibility and growth.
Muscle Maker, Inc. (Nasdaq: GRIL) announced a licensing agreement with Saladcraft to enable Pokemoto franchisees to offer a ghost kitchen concept. This partnership allows franchisees to provide build-your-own salad options alongside their existing Poke offerings, promoting new revenue streams. By leveraging existing facilities and personnel, the initiative aims to reduce overhead costs. Saladcraft offers over 60 quality salad ingredients and aligns with the healthier dining theme of the Muscle Maker brand. This move is part of a broader strategy to maximize revenue per square foot while catering to a diverse customer base.
Muscle Maker, Inc. (GRIL) has announced the signing of a franchise agreement to open a Pokemoto location at Tanger Outlets at Foxwoods, Mashantucket, Connecticut. This will be the company's 57th franchise agreement and will add to the existing 19 Pokemoto locations in Connecticut. The new outlet will feature a smaller, non-traditional design, providing patrons with customizable poke bowls and boba tea while engaging in the various entertainment options at Foxwoods Resort Casino. The franchise model typically generates up to $25,000 for initial fees with ongoing royalties of up to 6% on net sales.
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