Welcome to our dedicated page for SMART FOR LIFE news (Ticker: SMFL), a resource for investors and traders seeking the latest updates and insights on SMART FOR LIFE stock.
Smart for Life, Inc. (NASDAQ: SMFL) is a leading health and wellness company renowned for its innovative Smart for Life® Cookie Diet. Founded by Dr. Sasson Moulavi, a bariatric physician, the company is dedicated to helping clients across the U.S. and Canada achieve their weight loss and health goals while making a positive environmental impact. Over the past seven years, Smart for Life® has assisted hundreds of thousands of individuals in losing weight, enhancing their health, appearance, and overall happiness.
Smart for Life® products are crafted using pesticide-free organic ingredients and triple-filtered water, ensuring the highest quality and safety standards. The company adheres to the guidelines of the American Society of Bariatric Physicians (ASBP), a 50-year-old organization dedicated to teaching physicians the fundamentals of weight loss.
In addition to its flagship cookie diet, Smart for Life, Inc. is deeply involved in the development, marketing, manufacturing, acquisition, operation, and sale of a wide range of nutritional and related products. The company provides contract manufacturing services, producing and packaging nutraceutical products for various clients. This diversified approach enables Smart for Life to generate substantial revenues and maintain a strong position in the health and wellness industry.
Recent achievements include a profitable acquisition expected to contribute more than $8 million in annualized revenue and over $1 million in adjusted EBITDA. This strategic move underscores the company's commitment to growth and operational excellence.
Latest news highlights include:
- CEO's discussion on the profitable acquisition expected to significantly enhance revenue and EBITDA
- Participation in SupplySide East, where industry leaders gather for networking and education to drive product innovation
- Material loss reductions and the transformation of the company’s balance sheet, with updates on timing for Form 10-K and Form 10-Q
- White paper detailing recent trends and analysis in the growing nutraceutical industry
- Company representatives exploring strategies for emerging growth companies in the health & wellness sector
Smart for Life, Inc. (Nasdaq: SMFL) has completed its acquisition of Ceautamed Worldwide as of July 29, 2022, enhancing its position in the health and wellness sector. This acquisition is expected to be synergistic and accretive, adding the Greens First brand and over 45 SKUs to Smart for Life's portfolio. The transition will migrate Ceautamed’s contracts to Smart for Life’s FDA-certified manufacturing facility in Miami. The company aims for $300 million in revenue in the coming years and is committed to leveraging its direct-to-consumer expertise to maximize growth opportunities.
Smart for Life, Inc. (Nasdaq: SMFL) announced that CEO Darren Minton will present at the Benzinga All Access event on July 15, 2022, at 9:20 A.M. Eastern Time. The presentation will be broadcast live and can also be viewed later via the company's investor relations website. Smart for Life is a leader in the health and wellness sector, focusing on nutritional supplements and foods. The company aims to aggregate revenues of $300 million through strategic acquisitions within the next 36 months.
Smart for Life, Inc. (NASDAQ:SMFL) recently released a video interview featuring CEO Darren Minton, addressing the company’s strategy in acquisitions within the Health & Wellness sector. The firm, dedicated to developing and marketing nutritional products globally, aims to aggregate companies generating over $300 million in revenue over the next three years. Currently, it operates four subsidiaries and is pursuing synergies through a buy-and-build strategy. Minton outlined the company’s commitment to driving growth and expanding its acquisition pipeline.
Smart for Life (SMFL) has partnered with Milk Dust to manufacture proprietary lactation products aimed at increasing breast milk production for nursing mothers. The collaboration, which began in 2019, has seen heightened demand amid the infant formula shortage, assisting over 50,000 mothers so far. Milk Dust offers nutrient-dense protein and aims to help postpartum recovery and weight management. Smart for Life's manufacturing capabilities are set to scale up production significantly to meet this rising demand.
Smart for Life, Inc. (Nasdaq: SMFL) announced the imminent completion of its acquisition of Ceautamed Worldwide, with closing expected by July 29, 2022. The company is making a $1 million payment as part of the deal, aiming to consolidate operations for enhanced efficiencies and cost savings. The acquisition aligns with Smart for Life's growth strategy to achieve $100 million in annual revenues within the next year. Additionally, the company received a 180-day grace period from Nasdaq to comply with its minimum bid requirement, aiming to leverage upcoming market opportunities.
Smart for Life, Inc. (Nasdaq: SMFL) is set to present at the H.C. Wainwright Global Investment Conference from May 23-26, 2022. The company will present in-person on May 25 at 4:00 p.m. ET, with a live webcast available for replay. CEO Darren Minton, Executive Chairman Alfonso J. Cervantes, and CFO Alan Bergman will hold one-on-one meetings with qualified investors during the event. Smart for Life focuses on developing and acquiring nutritional products, aiming for $300 million in revenues within 36 months through a buy-and-build strategy.
Smart for Life, Inc. (Nasdaq: SMFL) reported remarkable 679% year-over-year revenue growth in Q1 2022, reaching $4.5 million. This surge was driven by strategic acquisitions, including Doctors Scientific Organica and GSP Nutrition. Gross profit soared to $1.5 million, with a gross margin rise to 34.1% from 3.7% a year prior. Despite these gains, the company posted a net loss of $16.7 million, mainly due to heightened operating expenses. Looking forward, Smart for Life aims for $100 million in revenues within 24 months through ongoing acquisitions.
Smart for Life, Inc. (Nasdaq: SMFL) announced a non-binding letter of intent with Diamond Creek Capital for a $4 million senior secured credit facility. The funds will primarily support the anticipated acquisition of Ceautamed Worldwide, LLC. This new financing follows a previous $3 million loan from Diamond Creek, which facilitated the acquisition of Doctors Scientific Organica in July 2021. Smart for Life aims to grow through strategic acquisitions and currently operates four subsidiaries.
Smart for Life (NASDAQ:SMFL) announced its participation in the Spring Into Action - Best Ideas Investor Conference, scheduled virtually from May 16-20, 2022. CEO Darren Minton will present on May 18, 2022, at 11:30 a.m. ET, with a live webcast available for replay. The company aims to engage with qualified investors through one-on-one meetings during the event. Smart for Life is focused on growth through acquisitions and innovative product development in the health and wellness sector, targeting $300 million in revenues in the next three years.
Smart for Life has appointed Darren C. Minton as CEO, transitioning from his role as President since 2017. A seasoned executive with over 15 years in capital markets, Minton's expertise spans operational management and acquisitions. His appointment comes after Ryan Zackon resigned as CEO to pursue other interests, with acknowledgment of his contributions during his tenure, particularly the company's IPO. Smart for Life aims to expand through its 'buy-and-build' strategy, targeting $300 million in revenue from acquisitions over the next three years.
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