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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 (Nasdaq: RGF) reported a strong first quarter for 2022, with net sales of $37.6 million, a 124% increase from the prior year. The increase is attributed to growth in the club channel and heightened demand from retail customers. Despite achieving gross profit of $4.2 million, margins were impacted by rising labor and raw material costs. The company anticipates reaching Adjusted EBITDA positivity by Q4 2022, following the ramp-up of its Bolingbrook facility, which aims to add $200 million in capacity. The updated guidance for 2022 estimates net sales of $150 million to $160 million.
The Real Good Food Company (Nasdaq: RGF) has launched its new crispy chicken shell tacos in approximately 3,500 Walmart stores across the U.S. as of May 10, 2022. These tacos, which are 100% grain-free and gluten-free, contain only 2g of net carbs and offer 25g of protein per serving. The product, developed in collaboration with Cacique, comes in three varieties: seasoned beef with cheddar, pulled chicken with cheese, and shredded chicken with special salsas. This launch aims to boost accessibility to nutritious options for health-conscious consumers.
The Real Good Food Company (Nasdaq: RGF) plans to announce its first quarter results for 2022 on May 13, 2022, before market open. A conference call will be held at 8:30 a.m. ET on the same day to discuss the results, with options for U.S. and international listeners to participate. The call will also be available via webcast on the Company's website, where it can be accessed for 30 days post-event. Real Good Foods focuses on health-conscious frozen food products, available in over 16,000 stores nationwide.
The Real Good Food Company (Nasdaq: RGF) announced a new rewards program for shareholders in partnership with TiiCKER. This program allows qualified shareholders to redeem perks such as free shipping, access to exclusive merchandise, and Visa gift cards. Shareholders must create a TiiCKER account and connect their brokerage to avail themselves of these benefits. The initiative aims to foster direct communication with investors while enhancing community engagement. Real Good Foods, known for its healthy frozen meals, operates in over 16,000 retail locations nationwide.
The Real Good Food Company (Nasdaq: RGF) introduced a shareholder rewards program through TiiCKER on April 26, 2022. This program offers qualified shareholders perks including free shipping, access to exclusive merchandise, and Visa Gift cards. Shareholders can redeem these perks by creating a TiiCKER account. The initiative aims to enhance community engagement and strengthen relationships between Real Good Foods and its investors. TiiCKER provides a platform for direct-to-shareholder marketing, allowing companies to connect with retail investors effectively.
The Real Good Food Company (Nasdaq: RGF) reported significant growth in its recent SPINS retail scanner performance data for the four-week period ending March 20, 2022. The overall frozen food category grew by 5.8%, while the health and wellness frozen food subcategory, which includes Real Good Foods, increased by 8.8%. Notably, the Real Good Foods brand experienced a remarkable growth of 58%, with core products, including entrées and breakfast items, soaring by 146%. These results underscore the brand's strong velocity growth of 101%.
The Real Good Food Company (Nasdaq: RGF) has opened a new manufacturing facility in Bolingbrook, Illinois, aimed at more than doubling its production capacity. This USDA-certified plant is crucial to the Company's growth strategy, expected to add $200 million in capacity by year-end, supporting net sales of $250 to $300 million when fully operational. The facility will decrease costs, improve margins, and enhance profitability by utilizing high-throughput production lines for current and future product innovations.
The Real Good Food Company (Nasdaq: RGF) reported strong sales growth for its health-focused frozen food products, with recent SPINS data showing a remarkable 73% increase in brand growth over four weeks ending February 20, 2022. The overall frozen food category grew 4.2%, while the Health & Wellness subcategory expanded by 9.1%. Core products saw incredible growth of 192%, with brand velocities increasing by 118%. This data captures approximately 50% of the company’s sales, emphasizing its position in the market.
The Real Good Food Company (Nasdaq: RGF) raised its 2022 outlook following strong financial results for Q4 and the full year ended December 31, 2021. Q4 net sales surged by 129% to $25.6 million, primarily due to increased demand for core products. The company anticipates net sales between $140 million and $150 million for 2022, reflecting a growth of 67% to 79%. However, adjusted EBITDA is expected to show a loss between $4 million and $11 million. The forthcoming Bolingbrook facility is expected to enhance production capabilities and efficiency.
The Real Good Food Company (Nasdaq: RGF) will announce its fourth-quarter and full-year results on March 11, 2022, before market open. A conference call is set for the same day at 8:30 a.m. ET, where the executive management team will discuss the results. U.S. listeners can join by calling (877) 451-6152, with international listeners dialing (201) 389-0879. A replay will be available after the call until March 25, 2022. The call will also be accessible via a live webcast on their website, which will be archived for 30 days.
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