Stryve Foods Inc - SNAX STOCK NEWS

Stryve Foods reported a full-year 2022 net sales of $29.9 million, reflecting a modest decline from $30.1 million in 2021. The fourth quarter net loss was $4.5 million with an adjusted EBITDA loss of $3.5 million. Despite the challenges, the company implemented significant operational changes, including a 55% reduction in operating expenses and product rationalization leading to a stable gross margin of 22.3%. For 2023, Stryve anticipates net sales between $28 million and $34 million, indicating potential growth of over 40% in core revenues. A conference call will detail the financial results further.

Stryve Foods, Inc. (NASDAQ: SNAX) will announce its fiscal 2022 fourth quarter and full-year results on April 3, 2023, before market opening. A conference call is scheduled for 9:00am ET on the same day. In this session, management will discuss 2022 performance and provide fiscal 2023 guidance on key financial metrics. The company highlights achievements in product quality, retail strategy, and brand positioning that are expected to drive significant growth in revenue and margins starting in Q2 2023.

Stryve Foods, Inc. (NASDAQ: SNAX) announced key metrics for the fiscal year 2022, projecting net sales to fall between $29 million and $32 million. This guidance is primarily impacted by the recent SKU rationalization program, which resulted in the exit of the Stryve Nutrition portfolio. Notably, the company reported a 27% increase in retail sales year-over-year and improved distribution points by 33%.

Furthermore, the fourth quarter of 2022 saw significant operational improvements, including a 50% reduction in operating expenses compared to the previous year, alongside a notable decrease in adjusted EBITDA losses.

Stryve Foods, Inc. (NASDAQ: SNAX) reported its Q3 2022 results, achieving a gross margin of 22.4%, significantly improved from negative margins in Q2. The net loss narrowed to $4.97 million, equating to $0.16 per share, down from $8.71 million in Q3 2021. Despite a 31.9% decrease in net sales to $6.2 million, the company anticipates full-year sales of $29 to $32 million. Operating expenses fell by 46%, contributing to reduced losses. Stryve secured $21 million in non-dilutive borrowing capacity to support ongoing initiatives.

Stryve Foods, Inc. (NASDAQ: SNAX) announced the appointment of Chris Whitehair to its Board of Directors. Whitehair, with extensive experience in the consumer packaged goods sector, aims to enhance Stryve's supply chain capabilities and support its transformation agenda. CEO Chris Boever expressed enthusiasm for Whitehair's expertise, highlighting the potential for unlocking value. Whitehair has previously held senior positions at SunOpta and ConAgra Foods, and he is expected to contribute significantly to Stryve's productivity initiatives.

Stryve Foods (NASDAQ: SNAX) announces participation in two investor conferences. On November 16, CEO Chris Boever and CFO Alex Hawkins will present at the 14th Annual Southwest IDEAS Investor Conference at 3:00 p.m. Central Time, with a webcast available. They will also hold one-on-one meetings. Following this, on November 17, they will participate in the 13th Annual Craig-Hallum Alpha Select Conference in New York City. Stryve specializes in healthy snacks, focusing on low-sugar, high-protein air-dried meat products.

Stryve Foods, Inc. (NASDAQ: SNAX) announced it will release its fiscal 2022 third quarter results on November 14, 2022, after market close. A conference call is scheduled for the same day at 4:30 PM ET, allowing investors to get insights into the company's performance and future strategy. Stryve is recognized for its air-dried meat snack products, which are positioned as healthier alternatives with zero grams of sugar and friendly to Keto and Paleo diets. This upcoming financial disclosure is essential for stakeholders keen on understanding the company's market trajectory.

Stryve Foods (NASDAQ: SNAX) has successfully closed on $26 million in non-dilutive credit facilities to bolster its strategic restructuring plan. The financing includes a revenue-based term loan of $6 million and an asset backed facility of $15 million, aimed at enhancing liquidity and supporting growth initiatives. CEO Chris Boever emphasized a focus on quality revenue growth and productivity improvements, while CFO Alex Hawkins highlighted the flexibility of the financing structure to accommodate future performance.

Stryve Foods (NASDAQ: SNAX), a premium air-dried meat snacks brand, has partnered with Folds of Honor, a nonprofit providing scholarships to families of fallen and disabled service members. This collaboration aims to raise awareness and support scholarship funding, having awarded over 35,000 since 2007, with 91% of funds going directly to scholarships. Stryve Foods will display the Folds of Honor badge on its packaging to promote this cause. This partnership demonstrates Stryve's commitment to social responsibility while enhancing its brand visibility.