Welcome to our dedicated page for TTCF news (Ticker: TTCF), a resource for investors and traders seeking the latest updates and insights on TTCF stock.
Tattooed Chef, Inc., founded in 2018 and headquartered in Paramount, California, is a pioneering plant-based food company. Specializing in the production and distribution of a wide selection of frozen foods, Tattooed Chef has quickly made a name for itself in the retail food industry across the United States.
The company's core offerings include a variety of ready-to-cook bowls, zucchini spirals, riced cauliflower, acai and smoothie bowls, and cauliflower crust pizza. These products cater to the growing demand for healthy, plant-based meal options and are available both under the private label and the Tattooed Chef brand in the frozen food sections of numerous retail food stores.
Tattooed Chef's innovative approach and commitment to quality have earned it a significant presence in the market. The company prides itself on creating products that are not only nutritious but also convenient and delicious, making it easier for consumers to incorporate plant-based foods into their daily diets.
Recently, Tattooed Chef has made notable strides in broadening its product portfolio and expanding its distribution network to reach more customers nationwide. Financially, the company continues to focus on growth and sustainability, leveraging partnerships and collaborations to enhance its market footprint.
In summary, Tattooed Chef, Inc. stands out in the plant-based food industry due to its innovative product offerings, strong market presence, and commitment to providing healthy, convenient, and tasty options for consumers.
Tattooed Chef, a plant-based food leader, received a Notification Letter from Nasdaq on March 31, 2023, indicating a non-compliance issue due to the late filing of its Annual Report on Form 10-K for the fiscal year ending December 31, 2022. This letter does not immediately affect the company's stock trading. Previously, on March 17, 2023, the company filed a Notification of Late Filing, citing the implementation of a new enterprise resource planning system and the need to restate previous financial statements as reasons for the delay. Tattooed Chef has until May 30, 2023, to submit a compliance plan, with a potential extension up to September 27, 2023, if accepted. The company is committed to filing the Form 10-K and regaining compliance promptly.
Tattooed Chef (TTCF) announced updates on cost reduction initiatives and operating activities in a press release dated March 17, 2023. The company has filed a Form 12b-25 with the SEC, indicating delay in the filing of its FY 2022 Annual Report. Tattooed Chef now anticipates up to $40 million in annual cost savings for 2023, aiming for breakeven Adjusted EBITDA by Q4 2023. Key actions include a $15 million reduction in marketing expenses and a workforce reduction plan. Retail expansion is underway, with products in over 24,000 stores and agreements with CVS. Preliminary FY 2022 results show net revenue at $234 million, with a gross margin anticipated between -4% to -5%.
The global plant-based food ingredients market is experiencing significant growth, projected to reach
Tattooed Chef (TTCF) reported Q3 2022 net revenue of $54.1 million, down 6.7% from Q3 2021's $58.0 million. The company experienced a gross loss of $(3.9) million with a margin of (7.2)%, compared to a gross profit of $5.0 million and a margin of 8.6% last year. Net loss surged to $(38.5) million or $(0.46) per share, widening from last year's $(8.2) million. The company revised its 2022 revenue guidance to $235 - $245 million, down from $280-$285 million.
Despite challenges, Tattooed Chef aims for annual cost savings of $30 million by 2023 and plans to achieve positive EBITDA by mid-2024.
Tattooed Chef (Nasdaq: TTCF) announced the upcoming release of its third-quarter financial results for the period ended September 30, 2022, scheduled for November 15, 2022, after the market closes. A conference call will take place on the same day at 5:00 PM ET to discuss the results. Interested investors can join via phone or online, with the call also being archived for 30 days. Tattooed Chef is a leading player in plant-based foods, offering a diverse range of products available in national retail and e-commerce.
Tattooed Chef (TTCF) announced plans to achieve approximately $30 million in expense savings by year-end 2023, targeting positive EBITDA and operating cash flow by mid-2024. The company is implementing cost reduction measures, including cutting marketing expenses and improving operational efficiencies. Despite these efforts, it revised its 2022 revenue outlook to $235-$245 million, down from $280-$285 million, citing inflationary pressures and changing consumer behavior. The gross margin forecast has also been lowered to 0-3% from 8-10%.
FAQ
What is the market cap of TTCF (TTCF)?
What does Tattooed Chef, Inc. specialize in?
Where is Tattooed Chef, Inc. headquartered?
When was Tattooed Chef, Inc. founded?
How are Tattooed Chef's products made available to consumers?
What is the market focus of Tattooed Chef, Inc.?
Has Tattooed Chef, Inc. expanded its product portfolio recently?
What type of partnerships does Tattooed Chef, Inc. engage in?
What is a key factor in Tattooed Chef's market success?
Where can I find Tattooed Chef products?
Why should consumers choose Tattooed Chef products?
