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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 (TTCF) has launched two new vegetable products, Organic Greens and Zucchini Spirals, at Whole Foods Market nationwide. These products are available in 12oz bags, priced from $3.99. The Organic Greens blend consists of five varieties, including zucchini and broccoli, while the Zucchini Spirals offer 100% zucchini in a convenient format. The company emphasizes ease of preparation, requiring just 6-7 minutes to cook. Tattooed Chef continues to expand its portfolio as a leader in plant-based foods, leveraging its long-standing partnership with Whole Foods since 2010.
Tattooed Chef announces the acquisition of Foods of New Mexico for approximately $37 million, enhancing its manufacturing capabilities and expanding production capacity beyond frozen foods. The deal includes two facilities, allowing Tattooed Chef to produce a wider range of Mexican food items. The company also reported a reclassification of expenses affecting financial metrics, resulting in a gross profit decrease but maintaining its revenue projections of $235-$242 million for 2021, reflecting a 58%-63% increase compared to 2020.
Tattooed Chef reported a 59% revenue increase in Q1 2021, reaching $52.7 million, driven by a 105% surge in branded sales to $36 million. The net loss was $7.9 million, compared to a profit in the previous year, while gross margin decreased to 26%. The company aims for 2021 revenue guidance of $235 million to $242 million, reflecting ongoing growth strategies and the acquisition of Foods of New Mexico. Despite operating expenses rising to $20.7 million, management is optimistic about long-term value creation.
Tattooed Chef (TTCF) has launched a new line of multi-serve meals available nationwide at Target as of May 10, 2021. This expansion includes five unique plant-based meals, each 20oz in size, aimed at families seeking convenient, healthy dinner options. Examples include Cauliflower Spaghetti with Plant-Based Bolognese and Chickpea Pasta with Plant-Based Sausage Ragu, all priced starting at $8.99. The meals are gluten-free and easy to prepare, taking only 6-7 minutes to cook.
Tattooed Chef (TTCF) will announce its financial results for Q1 2021 on May 12, 2021, after market close. A conference call is scheduled for 1:30 PM PT (4:30 PM ET) to discuss the results, with dial-in options for U.S. and international investors. A telephone replay will be available until May 26, 2021. The call will also be webcast and archived on the company’s website for 30 days. Tattooed Chef offers a wide range of sustainable, plant-based food products available at major retailers and online.
Tattooed Chef has announced the acquisition of Foods of New Mexico for approximately $35 million, with transactions expected to close in early May 2021. This acquisition enhances Tattooed Chef's capacity in the $20 billion Hispanic/Southwest food sector, particularly targeting the $1 billion frozen Mexican food market. The plants involved, totaling 118,000 square feet, are expected to drive annual revenue of up to $200 million. The company has updated its full-year 2021 revenue guidance to $235-$242 million, projecting a growth of 58 to 63% compared to 2020.
Tattooed Chef has launched five new plant-based pizzas, expanding its portfolio to ten offerings. These pizzas are gluten-free, vegan, and crafted using proprietary meat alternatives. The new varieties include Plant Based Vegetable, White, Pepperoni, Sausage & Pepperoni, and 2 Cheese Pizzas, all on a cauliflower crust and priced starting at $7.99 each. Available at Meijer locations, these pizzas promise quick preparation in 10-12 minutes. The company aims to revolutionize plant-based eating through innovative products and sustainable sourcing.
Tattooed Chef (Nasdaq: TTCF) has launched its first national advertising campaign featuring 6-second and 15-second commercials across major TV networks, connected TV, and digital platforms. The goal is to enhance brand awareness and boost distribution momentum in retail outlets. The ads showcase popular products like Cauliflower Crust Cheese Pizza and Organic Acai Bowl, reaching an audience of over 80 million consumers. The campaign aims to engage potential buyers within a 10-mile radius of stores, promoting a plant-based lifestyle.
Tattooed Chef (Nasdaq: TTCF) filed its Annual Report on Form 10-K for the fiscal year ending December 31, 2020, while also issuing a Form 8-K to amend prior financial statements. Notably, adjustments from the merger with Myjojo, Inc. led to a $23.4 million increase in net income for Q4 and the full year 2020. These adjustments were non-recurring and primarily non-cash, leaving revenue, Adjusted EBITDA, and cash balance unaffected, with no changes to business operations or 2021 guidance.
Tattooed Chef reported impressive financial results for Q4 and FY 2020, with revenues of $39.6 million and $148.5 million, marking 48% and 75% increases year-over-year, respectively. Branded product sales surged to a record $24 million, outpacing private label products for the first time. Net income reached $41.5 million for Q4, boosted by a one-time tax benefit of $39.3 million. Adjusted EBITDA improved to $3.7 million in Q4. The company reaffirmed its 2021 guidance, projecting revenues of $222 million, gross margins of 20%-25%, and adjusted EBITDA between $8 million and $10 million.
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