Stryve Foods, Inc. Announces Preliminary FY 2024 Financials and Filing of Form 12b-25 to Extend Time to File FY 2024 Annual Report
Stryve Foods (OTC: SNAX) has released preliminary unaudited financial results for FY 2024, showing net sales of $21.0 million, an 18.5% increase from the previous year. The company's operating loss improved by 31.2% to $10.6 million, while adjusted EBITDA loss improved 32.4% to $8.0 million.
Q4 2024 performance showed strong growth with net sales of $4.5 million, up 57.5% year-over-year. The company's working capital deficit increased to $15.0 million by year-end 2024, with approximately $16.4 million in debt.
In early 2025, Stryve completed two significant balance sheet transactions: reducing current liabilities by $8.7 million through a preferred equity deal and eliminating over $10.2 million in future lease payments by exiting a distribution facility lease. The company has filed Form 12b-25 to extend its FY 2024 annual report filing deadline due to working capital constraints.
Stryve Foods (OTC: SNAX) ha pubblicato i risultati finanziari preliminari non verificati per l'anno fiscale 2024, mostrando vendite nette di 21,0 milioni di dollari, con un aumento del 18,5% rispetto all'anno precedente. La perdita operativa dell'azienda è migliorata del 31,2%, attestandosi a 10,6 milioni di dollari, mentre la perdita EBITDA rettificata è migliorata del 32,4%, raggiungendo gli 8,0 milioni di dollari.
Le performance del quarto trimestre 2024 hanno mostrato una forte crescita con vendite nette di 4,5 milioni di dollari, in aumento del 57,5% rispetto all'anno precedente. Il deficit di capitale circolante dell'azienda è aumentato a 15,0 milioni di dollari entro la fine del 2024, con circa 16,4 milioni di dollari di debito.
All'inizio del 2025, Stryve ha completato due importanti operazioni di bilancio: riducendo le passività correnti di 8,7 milioni di dollari attraverso un accordo di equity preferenziale e eliminando oltre 10,2 milioni di dollari in pagamenti futuri di affitto uscendo da un contratto di locazione per un impianto di distribuzione. L'azienda ha presentato il modulo 12b-25 per estendere la scadenza per la presentazione del rapporto annuale FY 2024 a causa di vincoli di capitale circolante.
Stryve Foods (OTC: SNAX) ha publicado los resultados financieros preliminares no auditados para el año fiscal 2024, mostrando ventas netas de 21,0 millones de dólares, un aumento del 18,5% en comparación con el año anterior. La pérdida operativa de la empresa mejoró en un 31,2%, alcanzando los 10,6 millones de dólares, mientras que la pérdida de EBITDA ajustado mejoró un 32,4%, llegando a 8,0 millones de dólares.
El rendimiento del cuarto trimestre de 2024 mostró un fuerte crecimiento con ventas netas de 4,5 millones de dólares, un incremento del 57,5% interanual. El déficit de capital de trabajo de la empresa aumentó a 15,0 millones de dólares al final del 2024, con aproximadamente 16,4 millones de dólares en deuda.
A principios de 2025, Stryve completó dos transacciones significativas en su balance: reduciendo las pasivos corrientes en 8,7 millones de dólares a través de un acuerdo de capital preferente y eliminando más de 10,2 millones de dólares en pagos futuros de arrendamiento al salir de un contrato de arrendamiento de una instalación de distribución. La empresa ha presentado el formulario 12b-25 para extender el plazo de presentación de su informe anual del FY 2024 debido a restricciones de capital de trabajo.
스트라이브 푸드 (OTC: SNAX)는 2024 회계연도에 대한 비공식 재무 결과를 발표하며 순매출 2,100만 달러를 기록했으며, 이는 전년 대비 18.5% 증가한 수치입니다. 회사의 운영 손실은 31.2% 개선되어 1,060만 달러에 달했으며, 조정 EBITDA 손실은 32.4% 개선되어 800만 달러를 기록했습니다.
2024년 4분기 성과는 순매출 450만 달러로 강력한 성장을 보여주었으며, 이는 전년 대비 57.5% 증가한 수치입니다. 회사의 운전 자본 적자는 2024년 말까지 1,500만 달러로 증가했으며, 약 1,640만 달러의 부채가 있습니다.
2025년 초, 스트라이브는 두 가지 중요한 재무 거래를 완료했습니다: 우선주 거래를 통해 현재 부채를 870만 달러 줄였고, 유통 시설 임대 계약을 종료하여 향후 임대료 1,020만 달러를 없앴습니다. 회사는 운전 자본 제약으로 인해 2024 회계연도 연례 보고서 제출 기한을 연장하기 위해 12b-25 양식을 제출했습니다.
Stryve Foods (OTC: SNAX) a publié des résultats financiers préliminaires non audités pour l'exercice 2024, montrant des ventes nettes de 21,0 millions de dollars, soit une augmentation de 18,5 % par rapport à l'année précédente. La perte d'exploitation de l'entreprise s'est améliorée de 31,2 % pour atteindre 10,6 millions de dollars, tandis que la perte d'EBITDA ajusté a été réduite de 32,4 % pour atteindre 8,0 millions de dollars.
Les performances du quatrième trimestre 2024 ont montré une forte croissance avec des ventes nettes de 4,5 millions de dollars, en hausse de 57,5 % par rapport à l'année précédente. Le déficit de fonds de roulement de l'entreprise a augmenté pour atteindre 15,0 millions de dollars à la fin de l'année 2024, avec environ 16,4 millions de dollars de dettes.
Début 2025, Stryve a réalisé deux transactions importantes sur son bilan : réduction des passifs courants de 8,7 millions de dollars grâce à un accord de capital privilégié et élimination de plus de 10,2 millions de dollars de paiements futurs de loyer en sortant d'un contrat de location d'un centre de distribution. L'entreprise a déposé le formulaire 12b-25 pour prolonger le délai de dépôt de son rapport annuel pour l'exercice 2024 en raison de contraintes de fonds de roulement.
Stryve Foods (OTC: SNAX) hat vorläufige, ungeprüfte Finanzzahlen für das Geschäftsjahr 2024 veröffentlicht, die Nettoverkäufe von 21,0 Millionen Dollar zeigen, was einem Anstieg von 18,5% im Vergleich zum Vorjahr entspricht. Der operative Verlust des Unternehmens verbesserte sich um 31,2% auf 10,6 Millionen Dollar, während der bereinigte EBITDA-Verlust um 32,4% auf 8,0 Millionen Dollar zurückging.
Die Leistung im vierten Quartal 2024 zeigte ein starkes Wachstum mit Nettoverkäufen von 4,5 Millionen Dollar, was einem Anstieg von 57,5% im Jahresvergleich entspricht. Der Fehlbetrag im Umlaufvermögen des Unternehmens stieg bis Ende 2024 auf 15,0 Millionen Dollar, mit etwa 16,4 Millionen Dollar an Schulden.
Anfang 2025 hat Stryve zwei bedeutende Transaktionen in der Bilanz abgeschlossen: die Reduzierung der kurzfristigen Verbindlichkeiten um 8,7 Millionen Dollar durch ein Vorzugsaktiengeschäft und die Eliminierung von über 10,2 Millionen Dollar an zukünftigen Mietzahlungen durch den Ausstieg aus einem Mietvertrag für eine Vertriebsstätte. Das Unternehmen hat das Formular 12b-25 eingereicht, um die Frist für die Einreichung des Jahresberichts für das Geschäftsjahr 2024 aufgrund von Beschränkungen des Umlaufvermögens zu verlängern.
- Net sales increased 18.5% to $21.0 million in FY 2024
- Q4 2024 sales grew 57.5% year-over-year to $4.5 million
- Operating loss improved 31.2% to $10.6 million
- Adjusted EBITDA loss improved 32.4% to $8.0 million
- Reduced current liabilities by $8.7 million through preferred equity transaction
- Eliminated $10.2 million in future lease payments
- Working capital deficit increased to $15.0 million from $7.4 million year-over-year
- Substantial debt burden of $16.4 million
- Continued operating losses and negative cash flow
- Working capital constraints limiting ability to meet product demand
- Delayed annual report filing due to financial constraints
Full Year ‘24 Net Sales of
Adjusted EBITDA Loss Improved by
Significant Balance Sheet Transformation Underway in 2025
PLANO, Texas, April 01, 2025 (GLOBE NEWSWIRE) -- Stryve Foods, Inc. (OTC: SNAX) (“Stryve” or the “Company”), a leader in high-protein, better-for-you snacking, today unaudited preliminary Q4 2024 financial information and disclosed it had filed form 12b-25 for their Form 10K for the fiscal year ended December 31, 2024.
FY 2024 Unaudited Preliminary financial information
The unaudited preliminary financial information as of and for the year ended December 31, 2024, is as follows. The Company expects net sales of
In the fourth quarter of 2024, the Company achieved net sales of
Since year-end 2024, the Company has completed two significant transactions to transform its balance sheet. On January 30th, 2025, the Company reduced its current liabilities by
The Company’s working capital position has remained constrained limiting its ability to fully realize and execute on the demand for its products. Until the Company can generate positive cash flow from operations, the Company expects to finance its operations through equity offerings, debt financings, other financing or strategic transactions. There can be no assurance that the Company will be successful in raising additional capital or that such capital, if available, will be on terms that are acceptable.
¹ Adjusted EBITDA is a non-GAAP financial measure.
All financial results as of and for the year ended December 31, 2024, included below are preliminary, have not been reviewed or audited, are based upon the Company's estimates, and were prepared prior to the completion of the Company's financial statement close process. The preliminary financial results should not be viewed as a substitute for the Company's full year end results, do not present all information necessary for an understanding of the Company's financial performance as of and for the year ended December 31, 2024 and should not be considered final until the Company files its Annual Report on Form 10-K for the fiscal year ended December 31, 2024. During the course of the preparation of the Company's financial statements as of and for the fiscal year ended December 31, 2024, the Company may identify items that could cause its final reported results to be materially different from the preliminary financial information set forth above. Accordingly, undue reliance should not be placed on this preliminary data.
Extension to File Annual Report for FY 2024
The Company filed Form 12b-25 informing the Securities and Exchange Commission that it is unable to file its Annual Report on Form 10-K for the fiscal year ended December 31, 2024 (the “FY 2024 10-K”) within the prescribed period of time because of working capital constraints have rendered timely filing of the FY 2024 10-K impracticable without undue hardship and expense. As a result of the foregoing, the Company’s independent registered public accounting firm has not yet completed its audit procedures. The Company intends to file the FY 2024 10-K as soon as practical.
About Stryve Foods, Inc.
Stryve is a premium air-dried meat snack company that is conquering the intersection of high protein, great taste, and health under the brands of Braaitime®, Kalahari®, Stryve®, and Vacadillos®. Stryve sells highly differentiated healthy snacking and food products in order to disrupt traditional snacking and CPG categories. Stryve’s mission is “to help Americans eat better and live happier, better lives.” Stryve offers convenient products that are lower in sugar and carbohydrates and higher in protein than other snacks and foods. Stryve’s current product portfolio consists primarily of air-dried meat snack products marketed under the Stryve®, Kalahari®, Braaitime®, and Vacadillos® brand names. Unlike beef jerky, Stryve’s all-natural air-dried meat snack products are made of beef and spices, are never cooked, contain zero grams of sugar*, and are free of monosodium glutamate (MSG), gluten, nitrates, nitrites, and preservatives. As a result, Stryve’s products are Keto and Paleo diet friendly. Further, based on protein density and sugar content, Stryve believes that its air-dried meat snack products are some of the healthiest shelf-stable snacks available today. Stryve also markets and sells human-grade pet treats under the brands Two Tails and Primal Paws, made with simple, all-natural ingredients and
Stryve distributes its products in major retail channels, primarily in North America, including grocery, convenience store, mass merchants, and other retail outlets, as well as directly to consumers through its ecommerce websites and through the Amazon and Wal*mart platforms. For more information about Stryve, visit www.stryve.com or follow us on social media at @stryvebiltong.
* All Stryve Biltong and Vacadillos products contain zero grams of added sugar, with the exception of the Chipotle Honey flavor of Vacadillos, which contains one gram of sugar per serving.
Cautionary Note Regarding Forward-Looking Statements
Certain statements made herein are “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate”, “may”, “will”, “would”, “could”, “intend”, “aim”, “believe”, “anticipate”, “continue”, “target”, “milestone”, “expect”, “estimate”, “plan”, “outlook”, “objective”, “guidance” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters, including, but not limited to, statements regarding Stryve’s plans, strategies, objectives, targets and expected financial performance. These forward-looking statements reflect Stryve’s current views and analysis of information currently available. This information is, where applicable, based on estimates, assumptions and analysis that Stryve believes, as of the date hereof, provide a reasonable basis for the information and statements contained herein. These forward-looking statements involve various known and unknown risks, uncertainties and other factors, many of which are outside the control of Stryve and its officers, employees, agents and associates. These risks, uncertainties, assumptions and other important factors, which could cause actual results to differ materially from those described in these forward-looking statements, include: (i) the inability to achieve profitability due to commodity prices, inflation, supply chain interruption, transportation costs and/or labor shortages; (ii) the ability to meet financial and strategic goals, which may be affected by, among other things, competition, supply chain interruptions, the ability to pursue a growth strategy and manage growth profitability, maintain relationships with customers, suppliers and retailers and retain its management and key employees; (iii) the risk that retailers will choose to limit or decrease the number of retail locations in which Stryve’s products are carried or will choose not to carry or not to continue to carry Stryve’s products; (iv) the possibility that Stryve may be adversely affected by other economic, business, and/or competitive factors; (v) the impacts of the transition from NASDAQ to OTC; (vi) the possibility that Stryve may not achieve its financial outlook; (vii) risks around the Company’s ability to continue as a going concern and (viii) other risks and uncertainties described in the Company’s public filings with the SEC. Actual results, performance or achievements may differ materially, and potentially adversely, from any projections and forward-looking statements and the assumptions on which those projections and forward-looking statements are based.
Investor Relations Contact:
Investor Relations
ir@stryve.com
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