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Tattooed Chef, a leader in plant-based foods, will participate in a fireside chat at the Cowen Health, Wellness & Beauty Summit on September 14, 2021. The management team will speak at 12:20 p.m. PT (3:20 p.m. ET). Investors can access the webcast through the Investors section of Tattooed Chef’s website. The company is known for its innovative, sustainably sourced products including ready-to-cook bowls and cauliflower pizza crusts, catering to the growing demand for plant-based options.
Tattooed Chef reported Q2 2021 financial results showing a 45.9% revenue increase to $50.7 million, driven by branded sales rising 62% to $33.1 million, which comprised 65% of total revenue. The gross profit improved to $8 million with a 15.7% gross margin, up from 10.8% last year. However, the company faced a net loss of $53.2 million, primarily due to a one-time tax asset valuation expense. For 2021, Tattooed Chef expects revenue between $235 million and $242 million, projecting growth of 58% to 63%
Tattooed Chef (TTCF) has launched four new entrée bowls, including Buffalo Cauliflower Mac & Cheese and Spicy Thai Bowl, now available in approximately 340 Sprouts Farmers Market stores. The Spicy Thai Bowl features gluten-free plant-based chicken in a spicy Thai peanut sauce, catering to the growing demand for plant-based options. Each bowl is priced starting at $5.79, requires minimal preparation, and reflects Tattooed Chef's commitment to innovative and sustainably sourced plant-based foods.
Tattooed Chef (Nasdaq: TTCF) announced that it will release its financial results for Q2 2021 on August 12, 2021, post-market. The company will hold a conference call at 1:30 PM PT to discuss the results, which can be accessed by dialing 877-300-8521 within the U.S. and 412-317-6026 internationally. A replay will be available after the call and the results will also be archived on the company’s website for 30 days. Tattooed Chef is a leader in the plant-based food sector, focusing on innovative and sustainable food products offered widely in retail and e-commerce.
Tattooed Chef Expands Distribution
Tattooed Chef (Nasdaq: TTCF) announced plans to launch its plant-based products in approximately 1,800 Kroger stores nationwide by September 2021. The launch will feature a selection of 12 SKUs including pizzas, entrée bowls, and vegetables, all of which are either vegan or vegetarian-friendly. This expansion into Kroger, one of the largest food retailers in the U.S., highlights Tattooed Chef's growth strategy and commitment to making its innovative meals accessible to a broader audience.
Tattooed Chef, a leading plant-based food company, will participate in three upcoming virtual investor conferences. The management team will host a fireside chat at the Oppenheimer 21st Annual Consumer Growth and E-Commerce Conference on June 16, 2021, at 11:05 a.m. PT. Following that, they will engage in another chat at the Jefferies Virtual Consumer Conference on June 22, 2021, at 12:50 p.m. PT. Finally, investor meetings are scheduled for the 7th Annual Roth Virtual London Conference on June 23, 2021. Interested parties can access webcasts via the company’s website.
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.
