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Sow Good Inc. (symbol: SOWG) is an innovative U.S.-based company specializing in the manufacturing and marketing of freeze-dried fruits, vegetables, snacks, smoothies, and soups. The company also offers gluten-free granola products under the Sow Good brand. Using proprietary freeze-drying technology, Sow Good has successfully created a new subcategory of confectionaries known as freeze-dried candy, transforming traditional treats into novel and exciting everyday snacks.
The company recently celebrated a significant milestone by uplisting its shares to the Nasdaq Capital Market as of May 2, 2024. This strategic move is expected to boost institutional investor interest, market visibility, and liquidity, while enhancing long-term shareholder value.
In addition to its Nasdaq uplisting, Sow Good also completed an underwritten public offering that raised $13.8 million in gross proceeds. These funds will support ongoing production expansion and broader growth initiatives, aiming to strengthen the company's leadership in the freeze-dried candy and treats category.
Further, on April 15, 2024, Sow Good issued approximately 2.2 million shares of its common stock in connection with the exercise of warrants issued between December 2021 and May 2023. This move reduced the company's debt by $5.2 million and increased common equity by nearly $5.3 million, showcasing its solid financial condition.
Looking ahead, Sow Good is committed to continuous innovation and excellence in manufacturing. The company plans to expand its B2B customer base and retail presence while advancing product innovation. These efforts are aimed at maintaining and growing its market presence and ensuring high-quality standards in all its food products.
Sow Good Inc. (SOWG) reported Q3 2024 financial results with revenue of $3.6 million, down from $5.0 million in Q3 2023. The decrease was primarily due to delayed shipments caused by quality concerns during extreme summer heat. Gross profit declined to $0.6 million with a 16.0% margin, compared to $1.3 million and 27.0% in Q3 2023. The company reported a net loss of $3.4 million or $(0.33) per share.
Year-to-date revenue significantly increased to $30.6 million compared to $6.5 million in 2023, with gross profit rising to $14.2 million and a 46.4% margin. The company's sixth freeze dryer is now operational, and they're implementing temperature-controlled distribution to prevent future heat-related issues.
Sow Good (Nasdaq: SOWG), a leader in freeze-dried candy and treats, has scheduled its Q3 2024 earnings conference call for Thursday, November 14, 2024, at 10:00 a.m. ET. The company will release its financial results for the quarter ended September 30, 2024, before the call. Interested participants can register through the provided link to receive dial-in instructions. The call will be broadcast live and available for replay on the company's website.
Sow Good Inc. announces expansion of its freeze-dried candy lineup with new products including -Edition Holiday Marshmallows, Taffy Bombs, Chamoy-coated candies, and Mint to Be treats. The company plans to double its freeze-drying capacity at both Irving and new Dallas facilities, targeting presence in over 10,000 stores by end of 2024 and European expansion by early 2025. By March 2025, Sow Good will bring chew candy production in-house. The products are currently available at major retailers including Five Below, Cracker Barrel, Kroger, HEB, and Amazon.
Sow Good Inc. (Nasdaq: SOWG), a leader in the freeze-dried candy and treat industry, is set to present at the 2024 Annual Gateway Conference in San Francisco. The presentation is scheduled for September 4, 2024, at 12:30 p.m. Pacific Time at the Four Seasons Hotel. Investors can access a live webcast and replay of the presentation online.
In addition to the main presentation, Sow Good executives will be available for one-on-one meetings throughout the conference. This event provides an opportunity for investors to gain insights into Sow Good's business strategies and market position. Interested parties can request invitations or schedule meetings by emailing conference@gateway-grp.com.
Sow Good Inc. (Nasdaq: SOWG) reported strong Q2 2024 results, with revenue increasing 37% sequentially to $15.6 million, driving net income of $3.3 million or $0.29 per diluted share. Gross profit rose to $9.0 million with a margin of 57.6%. Adjusted EBITDA improved to $6.2 million. The company achieved several milestones, including a Nasdaq listing and a $12.8 million public offering. Sow Good is focusing on expanding production capacity, diversifying distribution partnerships, and innovating in the candy category. The company is bringing chew candy production in-house to enhance quality control and reduce supply chain vulnerabilities. Despite a slower start to Q3 due to seasonal factors, Sow Good remains confident in its growth trajectory for 2024.
Sow Good Inc. (Nasdaq: SOWG), a leader in the freeze-dried candy and treat industry, has announced its upcoming second quarter 2024 conference call. The call is scheduled for Thursday, August 15, 2024, at 10:00 a.m. Eastern time. During this call, Sow Good will discuss its financial results for the quarter ended June 30, 2024. The company plans to release its financial results in a press release prior to the conference call.
Interested parties can register for the call using the provided link. For those experiencing difficulties connecting to the call, Gateway Group can be contacted at 1-949-574-3860. The conference call will be broadcast live and available for replay on the company's website at Sowginc.com.
On June 26, 2024, Sow Good (Nasdaq: SOWG) announced that its Founder and Executive Chairman, Ira Goldfarb, was interviewed by Robert Kraft of Planet MicroCap. During the interview, Goldfarb discussed the company's history, its competitive advantages in the freeze-dried candy and treat industry, and its long-term vision. The interview aims to provide insights into Sow Good's growth strategies and market positioning. The full interview is available online for viewing.
Sow Good (Nasdaq: SOWG) has announced a substantial expansion with a new 324,000 sq. ft. production facility in Dallas, Texas. The facility will significantly increase the company's production capacity to meet rising demand for its freeze-dried treats. Approximately 306,500 sq. ft. of the facility will be dedicated to production, packaging, and distribution, while 17,400 sq. ft. will be reserved for office space. The company has secured deposits for five advanced freeze driers, with three set to be operational in the next six months. This move aims to centralize and streamline logistics and distribution while maintaining high food safety and quality standards. The facility will start distribution within a month and will begin packaging and freeze-drying production within four and six months, respectively.
Sow Good (Nasdaq: SOWG), a leader in the freeze-dried candy and treat industry, will participate in the 21st Annual Craig-Hallum Institutional Investor Conference on May 29, 2024, at the Depot Renaissance Hotel in Minneapolis, Minnesota. The company's management team will be available for one-on-one meetings throughout the day.
Sow Good (Nasdaq: SOWG) will ring the Nasdaq Opening Bell today, May 20, 2024, to celebrate its recent listing and ongoing operational growth. The company, a leader in the freeze dried candy industry, transitioned to Nasdaq on May 2, 2024. CEO Claudia Goldfarb highlighted their first-year achievements, including expanding production infrastructure and customer base, and developing an innovative SKU portfolio. Executive Chairman Ira Goldfarb emphasized the company’s entrepreneurial roots and commitment to community impact, noting growth in transforming niche trends into high-growth categories. The ceremony will be livestreamed, marking a significant milestone for Sow Good.
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