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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 reported a record revenue growth of 43.7% to $213.4 million for 2021, with 32.2% growth in Q4 2021 compared to Q4 2020. Despite a net loss of $87.4 million for the full year and $13.1 million in Q4, the company expanded its product line and retail presence significantly. They ended 2021 with 78 SKUs and expanded distribution to over 160 retailers. The outlook for 2022 anticipates revenue between $280-$285 million, supported by new product launches and increased distribution.
Tattooed Chef (TTCF) will announce its fourth quarter and full year financial results for 2021 on March 16, 2022, before the market opens. A conference call to discuss these results is scheduled for 9:00 a.m. ET on the same day. Investors can join the call by dialing (877) 407-9753 in the U.S. or (201) 493-6739 internationally. The call will also be available via webcast on Tattooed Chef's investor relations page, with the recording archived for 30 days. Tattooed Chef is a leader in innovative, plant-based foods available nationwide.
Tattooed Chef (TTCF), a leader in plant-based foods, will participate in the 34th Annual Roth Conference from March 13-15, 2022. The management team is set to engage in a fireside chat on March 14, 2022, at 3:00 PM PT. Investors can listen to the live audio webcast through the company's website or directly via the provided link. Tattooed Chef offers a wide range of innovative, sustainably sourced products including frozen food options that cater to the growing demand for plant-based diets.
Tattooed Chef (Nasdaq: TTCF) will restate its financial statements for the quarters ending March 31, June 30, and September 30, 2021. The restatement arises from errors in recording a deferred tax asset of $4 million related to the issuance of 825,000 shares for services in June 2021. The net loss increased by $4.0 million, impacting earnings per share by ($0.05) for multiple periods. However, the restatement is deemed immaterial to revenues, cash flows, and overall operations.
Amended 10-Q reports will be filed with the SEC shortly.
Tattooed Chef (TTCF) has unveiled its 2022 product innovations at the Natural Products Expo West, expanding beyond frozen offerings. With a portfolio now totaling 140 products across 10 categories, the brand highlights its growth as the fastest-growing Frozen Health and Wellness brand and the top brand in Frozen Breakfast. New product lines include plant-based snacks, burritos, and quesadillas, featuring unique ingredients like plant-based chorizo. The company aims to make plant-based meals more accessible while maintaining a commitment to sustainability.
Tattooed Chef (Nasdaq: TTCF) announced its intention to file Form 12b-25 with the SEC to extend the due date of its Annual Report on Form 10-K for the fiscal year ending December 31, 2021. The company, having changed its filing status to large accelerated filer, faces a shortened filing deadline. Due to significant growth in annual revenue, Tattooed Chef was unable to submit its consolidated financial statements by the initial March 1, 2022 deadline. The company aims to file its Form 10-K by March 16, 2022, and will update on its fourth quarter and full-year financial results as soon as possible.
Tattooed Chef (Nasdaq: TTCF) announced the acquisition of Belmont Confections for approximately $18 million in cash and stock, completed on December 21, 2021. This acquisition allows Tattooed Chef to expand into the snack bar category, enhancing its manufacturing capabilities. Belmont focuses on private label nutritional bars and operates a 47,000 square foot facility in Youngstown, Ohio. The company plans to launch new plant-based bars under its brand in 2022, indicating a strategic move to diversify its product offerings in the growing plant-based food market.
Tattooed Chef (Nasdaq: TTCF) announced Gaspare Guarrasi as its new Chief Operating Officer effective November 29, 2021. Guarrasi, with over 30 years of experience in operations and manufacturing, was previously the Director of Operations at Tattooed Chef since August 2021. He succeeds Stephanie Dieckmann, who remains as Chief Financial Officer. CEO Sam Galletti praised Guarrasi's leadership and expertise, emphasizing its importance for the company’s growth. Tattooed Chef continues to lead in the plant-based food sector, offering innovative products available nationwide.
Tattooed Chef reported record revenue of $58.8 million for Q3 2021, a 43.5% increase year-over-year, driven by a 56% rise in branded product revenue to $35.3 million. However, the company recorded a net loss of $8.2 million, worsening from a $3.2 million loss in Q3 2020. Gross profit for the quarter was $5.9 million with a 10.1% gross margin, slightly down from 10.3% last year. For 2021, Tattooed Chef anticipates revenue of $210-$215 million with an adjusted EBITDA loss between $18-$20 million. The company faces rising operational costs and inflationary pressures.
Tattooed Chef announced that its management team will participate in a fireside chat at the Jefferies Virtual West Coast Consumer Conference on November 17, 2021, at 11:50 a.m. PT. The event will be accessible via a webcast on the company's website.
Tattooed Chef is a leader in plant-based foods, offering products such as ready-to-cook bowls and cauliflower pizza crusts. Their innovative approach caters to the growing demand for healthy, sustainable food options.
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