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The Real Good Food Company, Inc. (NASDAQ: RGF) is an innovative and fast-growing entity in the health and wellness-focused frozen food sector. The company specializes in developing, marketing, and manufacturing a variety of delicious and convenient comfort foods that are high in protein, low in sugar, and made from gluten- and grain-free ingredients. These products cater to the clean eating movement, making it easy for consumers to enjoy nutritious meals without compromising on taste.
Founded with the mission to provide 'Real Food You Feel Good About Eating,' the company's first product line of frozen pizzas quickly gained traction in the direct-to-consumer (D2C) market and over 2,000 specialty nutrition stores. By 2017, Real Good Foods expanded into the broader retail pizza category, achieving approximately 70% ACV distribution by August 2018, without relying on third-party distributors.
Since then, Real Good Foods has diversified its product offerings to include frozen snacks and ethnic frozen meals. This expansion has been supported by the company's strong social media presence, boasting over 300,000 followers in just 18 months, driving new users to these categories and boosting sales for retailers.
Recently, Real Good Foods has made headlines for its financial performance and strategic initiatives. On October 31, 2023, the company released its Financial Results for the Quarter Ended September 30, 2023, and provided preliminary guidance for the year ending December 31, 2024. The company expects to achieve positive cash earnings starting in the fourth quarter of 2023 and continuing into 2024.
Furthermore, on November 9, 2023, Real Good Foods entered into a term sheet with PMC Financial Services for a debt refinancing agreement, aimed at enhancing liquidity by $15 million and significantly reducing cash debt service.
The company's products are available in over 16,000 stores nationwide, with additional direct-to-consumer options. Their recent foray into the refrigerated burrito segment within the Club Channel has been particularly notable, offering nutritious options with limited net carbs and high protein content.
For more information or to get in touch, you can follow Real Good Foods on Facebook, Instagram, or Twitter @realgoodfoods, or visit their website at www.realgoodfoods.com.
The Real Good Food Company, Inc. (NASDAQ: RGF) reported strong financial results for Q4 and the fiscal year 2022, with net sales rising 39% to $35.7 million and up 68% for the year to $141.6 million. Gross profit margin improved to 13.7%, up from 5.0% year-over-year, driven by lower commodity costs and production efficiencies. The company maintains a revenue guidance of at least $200 million for 2023 and aims for positive operating cash flow. Noted improvements include operational efficiencies from the Bolingbrook facility and a decrease in net loss to $11.9 million from $44.9 million in Q4 2021.
The Real Good Food Company (NASDAQ: RGF) has announced it will report its financial results for the fourth quarter and fiscal year ended December 31, 2022, on March 27, 2023, before market open. An investor conference call is scheduled for the same day at 8:30 a.m. ET, covering the financial results, corporate updates, and a Q&A session. Real Good Foods specializes in health and wellness frozen foods, aiming to provide nutritious, low-sugar, low-carb, and high-protein options. Its products are widely available in over 16,000 stores nationwide.
The Real Good Food Company (NASDAQ: RGF) announced a favorable amendment to its loan agreement, enhancing liquidity by up to $20 million. This includes an additional borrowing capacity of $10 million beyond the existing asset base and increased advance rates on finished goods and raw materials. Executive Chairman Bryan Freeman emphasized that this reflects the lender's confidence in the company's growth prospects and provides access to non-dilutive capital for long-term value creation. Real Good Foods specializes in health-focused frozen foods, with over 16,000 store locations nationwide.
Real Good Food Company (Nasdaq: RGF) announced the nationwide launch of its multi-serve Asian entrees at Safeway and Albertsons, following a significant 32% month-over-month sales increase according to SPINS data. This expansion includes approximately 1,800 stores, contributing to a total of 40,000 new distribution points, marking a 25% growth in the measured channel. The company reported a 26% increase in brand velocity and is on track to exceed its 33% sales growth forecast. Real Good Foods' entrees are positioned as healthier options, with low sugar and high protein content, aimed at enhancing its market presence.
The Real Good Food Company (Nasdaq: RGF) announced the launch of its Creamy Poblano Chicken Enchiladas in Sam’s Club stores nationwide, starting January 4, 2023. This new meal offering follows three other product launches in the past year, highlighting the company's commitment to providing health-oriented frozen foods. The enchiladas feature a proprietary tortilla filled with seasoned chicken and Monterey Jack cheese, topped with a homemade poblano sauce. The launch aims to increase the accessibility of nutritious foods for health-conscious consumers.
The Real Good Food Company (Nasdaq: RGF) announced the immediate resignation of Director Deanna T. Brady, due to conflicts arising from the company's evolving product portfolio, which overlaps with Hormel Foods. Bryan Freeman, Executive Chairman, expressed gratitude for Brady's contributions and highlighted efforts to find her replacements on key committees.
Real Good Foods specializes in health-focused frozen foods, promoting products that are low in sugar and carbohydrates while high in protein, available in over 16,000 stores nationwide.
The Real Good Food Company (RGF) reported a 63.2% increase in net sales to $37.6 million for Q3 2022, driven by strong demand and expanded distribution points.
Despite growth, gross profit fell to 4.7% of net sales due to rising raw material costs and increased manufacturing expenses. The company anticipates improved margins in Q4 2022 and projects at least 30% growth to $200 million in revenue for 2023.
Operating loss surged to $10.6 million, with a net loss of $13.1 million. The current cash balance of $5.4 million is expected to sustain operations moving forward.
The Real Good Food Company (NASDAQ: RGF) announced it will release financial results for its third quarter on November 11, 2022, before the market opens. A conference call is scheduled for the same day at 8:30 a.m. Eastern time for discussing financial results and corporate updates. The company focuses on health-conscious frozen foods, offering products that are low in sugar, low in carbs, and high in protein, available at over 16,000 stores and through direct-to-consumer options. More details can be found on their website.
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