Sadot Group Inc. Reports Top Line Revenue Over $59 Million for September 2023

Rhea-AI Summary

Sadot Group Inc. announces top line revenue of over $59.8 million for September 2023, marking the 11th consecutive month of revenue exceeding $45 million. CEO Michael Roper highlights revenue growth fueled by Sadot Agri-Foods commodity trading unit and contribution from Farming Operations in Zambia.

Positive

• Sadot Group achieves strong revenue growth, with September 2023 revenue exceeding $59.8 million, marking the 11th consecutive month of revenue exceeding $45 million.

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• None.

FORT WORTH, TX / ACCESSWIRE / October 26, 2023 / Sadot Group Inc. (NASDAQ:SDOT) (the "Sadot Group" or the "Company"), an emerging player in the global food supply chain sector, today announced that it has achieved top line revenue of over $59.8 million for the month of September 2023. This announcement marks the 11th consecutive month in which top line revenue has exceeded $45 million.

"We are extremely pleased with Sadot Group's continuing revenue growth fueled by our Sadot Agri-Foods commodity trading unit," said Sadot Group CEO, Michael Roper. "We are also pleased to share that our Farming Operations in Zambia are now contributing to revenue, reaffirming our commitment to exploring new growth opportunities in the global food supply chain across various operational verticals and geographical regions."

The preliminary, unaudited financial results included in this press release are based on information available as of September 30, 2023, and management's initial review of operations and financial results as of such date. They remain subject to change based on the completion of the Company's customary quarterly financial closing and review procedures and are forward-looking statements. The Company assumes no obligation to update these statements, except as may be required by law. The actual results may be materially different and are affected by the risk factors and uncertainties identified in this press release and in the Company's annual and quarterly filings with the Securities and Exchange Commission. Further, the Company's independent auditor has not reviewed or performed any procedures on the preliminary, unaudited financial results.

About Sadot Group Inc.
Sadot Group Inc., formerly known as Muscle Maker Inc., has rapidly established itself as an emerging player in the global food supply chain. Sadot Group provides innovative and sustainable supply chain solutions that address the world's growing food security challenges.

Sadot Group connects producers and consumers across the globe, sourcing agri-commodity products from producing geographies such as the Americas, Africa and the Black Sea and delivering to markets in Southeast Asia, China and the Middle East/North Africa region.

Sadot Group currently operates within three key verticals of the global food supply chain including 1) global agri-commodity origination and trading operations for food/feed products such as soybean meal, wheat and corn, 2) farm operations producing grains and tree crops in Southern Africa, and 3) food service operations with more than 45 restaurants across the U.S. and Kuwait.

Sadot Group is headquartered in Ft. Worth, Texas with subsidiary operations in Miami, Dubai, Singapore, Kyiv and Zambia. For more information please visit www.sadotgroupinc.com.

Forward-Looking Statements
This press release may include "forward-looking statements" pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. To the extent that the information presented in this press release discusses financial projections, information, or expectations about our business plans, results of operations, products, or markets, or otherwise makes statements about future events, such statements are forward-looking. Such forward-looking statements can be identified by the use of words such as "should", "may," "intends," "anticipates," "believes," "estimates," "projects," "forecasts," "expects," "plans," and "proposes." Although we believe that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading "Risk Factors" and elsewhere in documents that we file from time to time with the SEC. Forward-looking statements speak only as of the date of the document in which they are contained, and Sadot Group, Inc., does not undertake any duty to update any forward-looking statements except as may be required by law.

Investor Relations:
Frank Pogubila
SVP
Integrous Communications
W - 951.946.5288
E - IR@sadotco.com

SOURCE: Sadot Group, Inc.

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FAQ

What is Sadot Group's top line revenue for September 2023?

Sadot Group achieved top line revenue of over $59.8 million for September 2023.

What contributed to Sadot Group's revenue growth?

Revenue growth was fueled by Sadot Agri-Foods commodity trading unit and Farming Operations in Zambia.

Is the financial information audited?

The preliminary financial results included in the press release are unaudited and subject to change based on completion of customary quarterly financial closing and review procedures.

Are there any risk factors and uncertainties affecting the actual results?

The actual results may be materially different and are affected by the risk factors and uncertainties identified in the press release and the Company's filings with the Securities and Exchange Commission.

Will the Company update the statements?

The Company assumes no obligation to update the statements, except as may be required by law.