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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.
Tattooed Chef announces the launch of six new plant-based products at Target stores nationwide on March 15, 2021. The offerings include the Cauliflower Mac & Cheese Bowl and Cauliflower Pizza Bowl with Plant-Based Pepperoni, among others, catering to both vegan and vegetarian diets. Each bowl is priced starting at $4.99 and requires only 6-7 minutes for preparation. This expansion aims to make plant-based meals accessible to a broader audience, reinforcing the company's commitment to innovation and sustainability in the food industry.
Tattooed Chef, a leader in plant-based foods, announced participation in two upcoming virtual investor conferences. On March 11, 2021, management will host a fireside chat at the D.A. Davidson 4th Annual Consumer Growth Conference at 12:30 p.m. PT. Additionally, on March 16, 2021, they will engage in a fireside chat at the 33rd Annual ROTH Conference at the same time. Interested investors can access webcasts of these presentations on the company's website.
Tattooed Chef, Inc. (Nasdaq: TTCF) announced it will release its financial results for the fourth quarter and full year ending December 31, 2020, on March 10, 2021, after the market closes. A conference call will follow at 1:30 PM PT (4:30 PM ET) for discussion of the results. Investors can join via phone or through the webcast available on the company's website. The call will be recorded with a replay option available until March 24, 2021.
