Starco Brands Announces Insider Stock Buy Back Plan and Discusses Valuation
Starco Brands (OTCQB: STCB) has announced board approval for an Insider Trading Policy and stock buy-back plan. The company, which owns five growing brands including Whipshots, Winona Pure, Art of Sport, Skylar Beauty, and Soylent, reported Q2 2024 net revenue of $15.6 million with margins increasing to 37%. CEO Ross Sklar highlighted the company's progress in expanding product lines and distribution points, projecting national retail expansion and growth for late 2024 and 2025.
Sklar expressed his intention to purchase company stock, citing unique products, defensive moats, and scaling distribution as reasons for the company's success. He also noted that the enterprise value of individual brands may exceed the company's entire market cap, which is currently less than one times revenue. Following the earnings release, STCB experienced record trading volume on August 14th.
Starco Brands (OTCQB: STCB) ha annunciato l'approvazione del consiglio per una Politica di Insider Trading e un piano di riacquisto di azioni. L'azienda, che possiede cinque marchi in crescita tra cui Whipshots, Winona Pure, Art of Sport, Skylar Beauty e Soylent, ha riportato un fatturato netto di 15.6 milioni di dollari per il secondo trimestre del 2024, con margini in aumento al 37%. Il CEO Ross Sklar ha messo in evidenza i progressi dell'azienda nell'espansione delle linee di prodotto e dei punti di distribuzione, prevedendo un'espansione al dettaglio nazionale e una crescita per la fine del 2024 e il 2025.
Sklar ha espresso la sua intenzione di acquistare azioni della società, citando prodotti unici, fossati difensivi e la scalabilità della distribuzione come ragioni per il successo dell'azienda. Ha anche notato che il valore dell'impresa di singoli marchi potrebbe superare l'intero valore di mercato dell'azienda, attualmente inferiore a una volta il fatturato. Dopo il rilascio dei guadagni, STCB ha registrato un volume di scambi record il 14 agosto.
Starco Brands (OTCQB: STCB) ha anunciado la aprobación de la junta para una Política de Negociación Interna y un plan de recompra de acciones. La compañía, que posee cinco marcas en crecimiento, incluyendo Whipshots, Winona Pure, Art of Sport, Skylar Beauty y Soylent, reportó ingresos netos de 15.6 millones de dólares en el segundo trimestre de 2024, con márgenes que aumentan al 37%. El CEO Ross Sklar destacó el progreso de la compañía en la expansión de líneas de productos y puntos de distribución, proyectando una expansión minorista nacional y crecimiento para finales de 2024 y 2025.
Sklar expresó su intención de comprar acciones de la empresa, citando productos únicos, fosas defensivas y la escala de distribución como razones del éxito de la compañía. También señaló que el valor empresarial de marcas individuales podría superar la capitalización total de mercado de la empresa, que actualmente es inferior a una vez los ingresos. Después del anuncio de ganancias, STCB experimentó un volumen de negociación récord el 14 de agosto.
Starco Brands (OTCQB: STCB)는 내부 거래 정책 및 자사주 매입 계획에 대한 이사회 승인을 발표했습니다. Whipshots, Winona Pure, Art of Sport, Skylar Beauty, Soylent 등 5개의 성장 브랜드를 보유한 이 회사는 2024년 2분기 순수익이 1560만 달러에 달했으며, 마진이 37%로 증가했습니다. CEO 로스 스클라는 제품 라인 및 유통 포인트 확장에서 회사의 진행 상황을 강조하며, 2024년 말과 2025년을 위한 전국 소매 확장 및 성장을 전망했습니다.
스클라는 독특한 제품, 방어적 해자 및 유통 규모를 성공의 이유로 들며 자사 주식을 구매할 의사를 밝혔습니다. 그는 또한 개별 브랜드의 기업 가치가 현재 매출의 1배 미만인 회사의 전체 시가 총액을 초과할 수 있다고 언급했습니다. 실적 발표 이후 STCB는 8월 14일에 기록적인 거래량을 경험했습니다.
Starco Brands (OTCQB: STCB) a annoncé l'approbation du conseil d'administration pour une Politique de Trading d'Initiés et un plan de rachat d'actions. L'entreprise, qui possède cinq marques en croissance, notamment Whipshots, Winona Pure, Art of Sport, Skylar Beauty et Soylent, a déclaré un revenu net de 15,6 millions de dollars pour le deuxième trimestre 2024, avec des marges augmentant à 37%. Le PDG Ross Sklar a souligné les progrès de l'entreprise dans l'expansion de ses gammes de produits et de ses points de distribution, prévoyant une expansion nationale au détail et une croissance pour la fin de 2024 et 2025.
Sklar a exprimé son intention d'acheter des actions de l'entreprise, citant des produits uniques, des fossés défensifs et l'évolutivité de la distribution comme raisons du succès de l'entreprise. Il a également noté que la valeur d'entreprise des marques individuelles pourrait dépasser la capitalisation boursière totale de l'entreprise, qui est actuellement inférieure à une fois le chiffre d'affaires. Après la publication des résultats, STCB a connu un volume de transactions record le 14 août.
Starco Brands (OTCQB: STCB) hat die Genehmigung des Vorstands für eine Insider-Handelsrichtlinie und einen Aktienrückkaufplan bekannt gegeben. Das Unternehmen, das fünf wachsende Marken besitzt, darunter Whipshots, Winona Pure, Art of Sport, Skylar Beauty und Soylent, meldete für das zweite Quartal 2024 einen Nettoumsatz von 15,6 Millionen Dollar mit Margen, die auf 37% steigen. CEO Ross Sklar hob den Fortschritt des Unternehmens bei der Erweiterung der Produktlinien und Vertriebsstellen hervor und prognostizierte eine nationale Einzelhandelserweiterung und Wachstum für Ende 2024 und 2025.
Sklar äußerte seine Absicht, Unternehmensaktien zu kaufen, und nannte einzigartige Produkte, defensive Gräben und skalierende Distribution als Gründe für den Erfolg des Unternehmens. Er merkte auch an, dass der Unternehmenswert einzelner Marken den gesamten Marktwert des Unternehmens übersteigen könnte, der derzeit weniger als das Eineinhalbfache des Umsatzes beträgt. Nach der Veröffentlichung der Geschäftszahlen erlebte STCB am 14. August ein Rekordhandelsvolumen.
- Q2 2024 net revenue reached $15.6 million
- Margins increased to 37%
- All five portfolio companies experiencing growth year to date 2024
- Two divisions set to double year over year through 2024
- National retail expansion and growth projected for late 2024 and 2025
- Insider stock buy-back plan approved
- Record trading volume achieved on August 14th
- None.
All five portfolio companies experiencing growth year to date 2024
2 divisions set to double year over year through 2024
The Company, owner of five operating brands: Whipshots, alcohol infused aerosol whip cream, Winona Pure, popcorn and seasoning sprays, Art of Sport, a wellness brand designed for athletes, Skylar Beauty, a clean fragrance and personal care brand and Soylent, a nutritional food and beverage brand, recently reported net revenue for the second quarter 2024 to be
Starco Brands Chairman & CEO Ross Sklar said: “We have integrated and created efficiencies through our shared service platform for our brands over the course of 2023 and 2024 allowing the Company to now experience tremendous retail expansion, topline growth and higher margins. The team made incredible progress in expanding our product lines and points of distribution and I cannot be more proud of them.”
In an interview with ICR, the Company’s investor relations firm, Mr. Sklar was asked why disclose the adoption of the firms insider trading policy and plan to buy back stock? Mr. Sklar said, “As our public company continues to grow and gain in popularity the employees and senior executives are eager to own more of our stock. We are proud to announce the approval of our Insider Trading Policy and plan to buy our stock along this amazing journey. Sklar continued, I am a buyer of our stock and have begun purchasing when allowed during non-black out periods, as outlined in our Insider Trading Policy.
Mr. Sklar was then asked why he is currently buying the Company’s stock in the open market. Mr. Sklar responded, “If you look at any of our portfolio companies we are winning because we have extremely unique products and brands with defensive moats and scaling distribution.” Sklar continued, “Anybody is free to review the company’s performance to understand its current revenue run rate, margins and distribution expansion activities and then analyze that versus the market cap and see if this aligns. A couple of the metrics that are important to me are, the enterprise value of individual brands may exceed the entire market cap of the company. As well, the market cap overall is less than one times revenue, anybody is free to make their own judgements if they believe this is an undervalued asset or not.”
On August 14th, the day after the Companies earning release and call, Starco Brands stock traded more shares than ever before in the Companies life.
Forward-Looking Statements
Any statements in this press release about the Company's future expectations, plans and prospects, including statements about our financing strategy, future operations, future financial position and results, market growth, new product launches and product growth, total revenue, as well as other statements containing the words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "potential," "predict," "project," "should," "target," "will," or "would" and similar expressions, constitute forward-looking statements within the meaning of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. The Company may not achieve the plans, intentions or expectations disclosed in the Company's forward-looking statements, and you should not place undue reliance on the Company's forward-looking statements. All forward-looking statements are subject to assumptions, risks and uncertainties that may change at any time. Therefore, readers are cautioned that actual results could differ materially from those expressed in forward-looking statements. The Company undertakes no obligation to update any forward-looking statements as a result of new information, future developments or otherwise, except as expressly required by law. This cautionary statement entirely qualifies all forward-looking statements in this document.
Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements the Company make as a result of a variety of risks and uncertainties, including risks related to the Company's estimates regarding the potential market opportunity for the Company's current and future products and services, the impact of the COVID-19 pandemic, the competitive nature of the industries in which we conduct our business, general business and economic conditions, our ability to acquire suitable businesses, our ability to successfully launch new products and seize market share, the Company's expectations regarding the Company's sales, expenses, gross margins and other results of operations, and the other risks and uncertainties described in the "Risk Factors" sections of the Company's public filings with the Securities and Exchange Commission on Form 10-K for the year ended December 31, 2022 and our subsequent interim reports on Form 10-Q and 8-K. Copies of our SEC filings are available on our website at www.starcobrands.com. In addition, the forward-looking statements included in this press release represent the Company's views as of the date hereof. The Company anticipates that subsequent events and developments may cause the Company's views to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date after the date hereof.
About Starco Brands
Starco Brands (OTCQB: STCB) invents and acquires consumer products with behavior-changing technologies that spark excitement in the everyday. Today, its disruptive brands include Whipshots®, the world's only vodka-infused whipped cream co-founded by global artist Cardi B; Art of Sport, the body care brand designed for athletes and co-founded by Kobe Bryant; Winona® Pure, the first indulgent theater-popcorn spray powered by air; Skylar, the only fragrance that is both hypoallergenic and safe for sensitive skin; and Soylent, the complete non-dairy nutrition brand. A modern-day invention factory to its core, Starco Brands identifies whitespaces across consumer product categories. It draws upon a portfolio of innovative formulas spanning eight product categories with limitless innovation potential. Starco Brands publicly trades on the OTCQB stock exchange so that retail investors can invest in STCB alongside accredited individuals and institutions. Visit starcobrands.com for more information.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240815925473/en/
Investor Relations
John Mills
ICR
646-277-1254
John.Mills@icrinc.com
Deirdre Thomson
ICR
646-277-1283
Deirdre.Thomson@icrinc.com
Source: Starco Brands, Inc.
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