Splash Beverage Group, Inc. - SBEV STOCK NEWS

Splash Beverage Group (SBEV) has appointed F. William (Bill) Caple to its Board of Directors. With over 30 years of investment banking and management consulting experience, Mr. Caple will bolster the company's growth initiatives. He is the founder of Caple Advisory, focusing on international growth strategies, and has a track record in M&A and capital raises. Notably, he was instrumental in the acquisition of TaylorMade Golf by Centroid Partners. CEO Robert Nistico expressed confidence in Mr. Caple's ability to enhance the company's strategic direction. Splash's portfolio includes innovative brands such as Copa di Vino and SALT flavored tequilas, and aims for rapid expansion in the beverage industry.

Splash Beverage Group (SBEV), a growing beverage company, reported a 47% increase in total gross revenue for Q1, reaching $6.1 million, compared to $4.1 million in the prior year. The core beverage brands experienced a 28% increase, with Q-plash up 60%. The company has expanded its retail presence by adding over 24,000 store doors in various national and regional chains, enhancing distribution capabilities through key partnerships. The management emphasizes the significance of an established distribution network for product authorization in retail. They expect gradual revenue growth as distribution expands within retail chains and through the on-premise segment. CEO Robert Nistico expressed confidence in the company’s positioning and the potential for continued growth in a large market.

Splash Beverage Group (SBEV) announced a conference call for April 11, 2023, at 10:00 am ET to discuss its Q4 and full-year 2022 financial results. The call can be accessed via toll-free numbers or a live webcast. Additionally, a replay will be available until April 25, 2023. The company boasts a diverse portfolio of beverage brands, including Copa di Vino and SALT flavored tequilas, and aims to expand its global distribution. Investors are urged to connect early for the call to accommodate potential software requirements for the webcast.

Splash Beverage Group (SBEV) reported strong financial results for Q4 and the full year ended December 31, 2022. Q4 revenues rose 56% to $4.79 million, while full-year revenues increased 61% to $19.0 million, driven by growth in its ecommerce platform Qplash and the Copa Di Vino brand.

Gross margins improved significantly, reaching $3.3 million in Q4 and $5.9 million for the full year. The net loss narrowed to $4.8 million in Q4 and $21.7 million for the year, compared to $6.2 million and $29.0 million, respectively, in 2021. Cash reserves increased slightly to $4.4 million. The CEO emphasized ongoing investments in marketing and distribution as key to future growth.

Splash Beverage Group, Inc. (SBEV) recently announced that its Pulpoloco Sangria has been awarded the prestigious 7-Eleven, Inc. Brands with Heart™ designation, enabling it to be showcased in select 7-Eleven and Speedway stores across the U.S. This recognition highlights the brand's growing visibility in the competitive beverage market. Pulpoloco Sangria, crafted in Madrid, is presented in an innovative eco-friendly packaging called CartoCan, emphasizing sustainability. CEO Robert Nistico expressed enthusiasm about this opportunity, indicating confidence in the product's quality and the company's distribution capabilities as pivotal factors for success in major retail outlets.

On March 2, 2023, Splash Beverage Group (SBEV) announced a new distribution agreement with Carolina Premium Beverage to deliver its brands, Copa di Vino, Pulpoloco, and TapouT, across North Carolina. Carolina Premium Beverage has over 80 years of experience and delivers more than 6.8 million cases annually, placing it among the top beer wholesalers in the U.S. CEO Robert Nistico expressed enthusiasm for the partnership, signaling an expansion into key markets like Charlotte. This agreement, along with a recent Publix authorization for TapouT, enhances Splash’s distribution strategy in the Southeastern U.S., aiming to boost retail presence and revenue.

Splash Beverage Group (SBEV) announced new distributor agreements to enhance the presence of SALT Tequila across most counties in New York, excluding New York City. The distributors, Try-It Distributing, A. L. George Distributing, and Saratoga Eagle Sales & Service, are part of the Anheuser Busch network, providing a strong distribution network. Chairman Robert Nistico emphasized the growth potential of tequila in the spirits market, which could favorably impact SALT Tequila's expansion. The company aims to capitalize on the growing demand in the spirits sector.

Splash Beverage Group (SBEV) announced the upcoming launch of TapouT Energy, an energy drink aimed at enhancing cognitive performance and focus, set for late March 2023. Developed by elite nutritionist Sanjeev Javia and NFL star Drew Brees, the drink will be available in three flavors: Cherry Lemonade, Orange, and Peach Mango, all zero sugar and derived from natural ingredients. CEO Robert Nistico highlighted that the U.S. energy drink market is nearing $12 billion and is expected to grow to $28.25 billion by 2027. The launch capitalizes on a booming sector, with innovative brands seeing an 18% increase in sales.

Splash Beverage Group (NYSE American: SBEV) shared a shareholder update highlighting recent growth and distribution agreements. The company has added over a dozen new distributors and several national retail authorizations, including Circle K, Publix, and Target. Gross sales grew by 73% quarter-over-quarter and 64% over nine months. The company has also secured financing through the sale of convertible notes and warrants. New hires, including a veteran sales leader, aim to capitalize on growth opportunities, bolstered by celebrity endorsements such as NFL star Drew Brees.