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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) announced the launch of its new Stuffed Chicken Bites at Kroger stores nationwide. Available in Three Cheese and Cheesy Taco flavors, these products are gluten-free, grain-free, and contain only 3g net carbs and 25g protein per serving. This expansion into 1,500 Kroger locations enhances the company's partnership and aims to provide healthier frozen food options to consumers. Real Good Foods is committed to accessibility and improved nutrition, targeting health-conscious shoppers.
Real Good Foods (Nasdaq: RGF) reported robust sales growth in its recent SPINS performance data ending January 23, 2022. Notably, the frozen food category grew 5.6%, while the Health & Wellness segment rose 11.5%. Real Good Foods' overall brand sales surged by 63%, with core product sales (Entrée and Breakfast items) increasing by an impressive 162%. Furthermore, upward revisions indicated a growth of 69% in the four-week period and 44% in the twelve-week period compared to the previous year. The company aims to provide nutritious comfort foods across various dining occasions.
The Real Good Food Company (Nasdaq: RGF) announced the expansion of its best-selling Grande Chicken Enchiladas to all Costco regions starting January 22, 2022. The enchiladas are made 100% grain-free, containing only 2g net carbs and 20g protein per serving. Bryan Freeman, Executive Chairman, emphasized the enhanced partnership with Costco that facilitates greater access to nutritious food options across the U.S., aiming to improve consumer health through better dietary choices.
The Real Good Food Company (Nasdaq: RGF) reported significant growth in its recent SPINS retail scanner data for the period ending December 26, 2021. Overall, the frozen food category grew by 6.2%, while the health and wellness frozen food subcategory increased by 8.5%. Real Good Foods outpaced these trends with a remarkable 56% growth, bolstered by a 143% surge in its core products. The Company credits this acceleration to rising consumer demand for nutritious comfort foods, enhancing its distribution potential.
The Real Good Food Company (Nasdaq: RGF) announced its management will present at the 2022 ICR Conference on January 11, 2022, starting at 3:00 p.m. ET. The presentation will be accessible via webcast on the Company's website and archived until February 8, 2022. Founded in 2016, Real Good Foods focuses on health-conscious frozen meals that are low in carbohydrates and high in protein. Their products are available in over 16,000 stores nationwide, including major retailers like Walmart and Costco.
The Real Good Food Company (Nasdaq: RGF) announced a partnership with Sam's Club to launch a new flavor of its Bacon Wrapped Stuffed Chicken Breast—Creamy Spinach & Artichoke. This entrée is grain-free, low in carbohydrates, and high in protein, catering to health-conscious consumers. Available at Sam's Club stores nationwide, this collaboration aims to improve access to nutritious frozen meals for shoppers. Founded in 2016, Real Good Foods focuses on providing craveable, nutritious comfort foods while promoting healthier lifestyles.
The Real Good Food Company (Nasdaq: RGF) reported significant sales growth in its latest press release, with a remarkable 38% increase in product sales for the four weeks ending November 28, 2021. This outperformed the overall frozen food category growth of 7.1% and the health-focused subcategory at 12.6%. Core products, including entrées and breakfast items, saw a substantial 109% increase. The company also expanded its retail presence, including partnerships with Walmart and Kroger. These developments highlight a positive trend in consumer demand and the effectiveness of Real Good Foods' branding.
The Real Good Food Company (Nasdaq: RGF) reported a 136% year-over-year increase in net sales for Q3 2021, reaching $23.0 million. Gross margin rose significantly, with adjusted gross margin at 17.1%. Following its IPO, the company achieved a pro forma cash balance of $44 million and expanded its credit facility capacity to $70 million. For 2021, net sales are projected at $83 million to $85 million, while 2022 forecasts net sales of $115 million to $125 million. Despite losses in adjusted EBITDA, growth metrics signal strong market performance.
Real Good Foods (Nasdaq: RGF) will report its third-quarter results on December 7, 2021, after market close. A conference call with executive management is set for 4:30 p.m. ET that same day to discuss the results. U.S. participants can join by calling (877) 451-6152, while international listeners may dial (201) 389-0879. A replay will be available until December 21, 2021. The call will also be webcast on the Company's website, which will be archived for 30 days.
The Real Good Food Company (Nasdaq: RGF) celebrated its IPO by ringing the closing bell at the Nasdaq on November 5, 2021. Executive Chairman Bryan Freeman expressed gratitude to the team for their efforts in reaching this significant milestone. The company focuses on health-conscious frozen foods that are high in protein and low in sugar, aligning with their mission to promote healthier lifestyles. Viewers can watch the closing bell ceremony livestream online. The announcement included forward-looking statements regarding future performance, acknowledging potential risks and uncertainties affecting outcomes.
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