Business
Happy Belly Food Group Announces 12th Consecutive Record Quarter, and First Quarter of Positive Net Income from Operations
Toronto, Ontario--(Newsfile Corp. - May 21, 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 unaudited financial results and corporate update for the fiscal quarter ended March 31st, 2025."In Q1 2025, Happy Belly Food Group marked its 12th consecutive record quarter of growth and reported its first quarter of positive net ...
About this update from Happy Belly Food Group Inc
[{"type":"text","content":"Toronto, Ontario--(Newsfile Corp. - May 21, 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 unaudited financial results and corporate update for the fiscal quarter ended March 31st, 2025.","length":352,"tagName":"p"},{"type":"text","content":""In Q1 2025, Happy Belly Food Group marked its 12th consecutive record quarter of growth and reported its first quarter of positive net income from operations-signaling a pivotal cornerstone in our evolution. This achievement underscores our continued progress toward becoming Canada's premier acquirer and scaler of emerging food brands, while delivering meaningful value to our shareholders. We doubled our system sales, driving a 101% increase versus the same quarter last year. We successfully added 8 restaurant locations in Q1 through our continued focus on organic growth and accretive acquisitions," said Sean Black, Chief Executive Officer. "I would like to personally congratulate all brand leaders, franchisees, team members and cross functional teams for an amazing start to fiscal 2025. The team continues to execute on our aggressive growth and strategic plans, which is leading to yet another positive step forward and significant growth during Q1 2025. System sales reached $11M (+101%), and total revenues of $4M (+95%) both doubled versus the same quarter last year. Adjusted EBITDA increased 690%, while achieving positive cash flow before changes in non-cash working capital, and our first quarter positive net income from operations. Another key milestone achieved by Happy Belly Food Group," said Gary Fung, Chief Financial Officer. "Our core principles have been the 3P's: People, Product and Process, while staying operationally and financially disciplined throughout our execution plan. As at the end of Q1 2025, we have 50 operating restaurants, up 32 or 178% versus the same quarter last year. We continue to drive both organic and inorganic growth, through accretive acquisitions, improving sales and traffic, net restaurant openings, and overall profitability at restaurant level. Such positive tailwinds are already evident in Q2 2025, while we head towards the summer season. Exciting times ahead f...