Business
Happy Belly Food Group Announces 11th Consecutive Record Quarter, and First Fiscal Year of Positive Adjusted EBITDA
Toronto, Ontario--(Newsfile Corp. - April 30, 2025) - Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company"), a leader in acquiring and scaling emerging food brands across Canada, is pleased to announce its audited financial results and corporate update for the fiscal year ended December 31st, 2024."In 2024, Happy Belly Food Group delivered record growth and transformation, advancing our mission to become Canada's leader in acquiring and scaling emerging ...
About this update from Happy Belly Food Group Inc
[{"type":"text","content":"Toronto, Ontario--(Newsfile Corp. - April 30, 2025) - Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company"), a leader in acquiring and scaling emerging food brands across Canada, is pleased to announce its audited financial results and corporate update for the fiscal year ended December 31st, 2024.","length":353,"tagName":"p"},{"type":"text","content":""In 2024, Happy Belly Food Group delivered record growth and transformation, advancing our mission to become Canada's leader in acquiring and scaling emerging food brands while generating significant shareholder value. Through a combination of organic expansion and strategic acquisitions, we added 30 new restaurant locations, drove a 419% increase in system sales, and achieved a 72% rise in net income. We closed the year adjusted EBITDA-positive and strategically reinvested capital in securing additional capacity during Q4 to support our record setting 2025 rollout. Key hires and system enhancements during the year underpinned an expedited opening schedule, evidenced by 10 net new restaurant openings year-to-date in 2025, with many more still to come," said Sean Black, Chief Executive Officer.","length":818,"tagName":"p"},{"type":"text","content":""As I reflect on 2024, I am proud of our sustained momentum across both top and bottom-line metrics, including an 11th consecutive record quarter. Equally important is the collaborative culture we have built at Happy Belly. Our management team and brand partners are working seamlessly to support franchisees and expand our national footprint. This dynamic teamwork is the foundation of our rapid execution and positions us for an even stronger performance in 2025. While 2024 was transformational, our best chapters are still ahead as we are very focused on delivering more growth throughout 2025. In a few short weeks we look forward to unveiling our Q1 2025 results, as we continue our push toward cash-flow positivity and positive earnings per share; our story is truly just beginning."","length":800,"tagName":"p"},{"type":"text","content":"We are just getting started.","length":28,"tagName":"p"},{"type":"text","content":"2024 Financial Highlights","length":25,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"System wide sales across Quick Servi...