Business
The Fresh Factory Reports Fiscal 2024 Results with Record Annual Total Billed Revenue of $32.9M
The Company reported a record full-year billed revenue of $32.9M (CAD $47M) in 2024, representing...
About this update from Fresh Factory B.c. Ltd.
[{"type":"text","content":"The Fresh Factory Reports Fiscal 2024 Results with Record Annual Total Billed Revenue of $32.9M The Company reported a record full-year billed revenue of $32.9M (CAD $47M) in 2024, representing a year-over-year increase of 39% from 2023.The Company recorded its highest-ever quarterly billed revenue of $8.9M (CAD $12.7M) in Q4 2024, surpassing the previous record of $8.4M (CAD $12M) set in Q1 2024. This marks a 38% increase over Q4 2023.During the fourth quarter, the Company continued its progress toward opening its previously leased facility in Downers Grove, IL. While construction of the production area continued, office staff were able to move into the new office space.The Company successfully completed trials for new customers that would start shipping in the first quarter of 2025.The Company successfully launched smoothies as a complement to its cold-pressed juices and wellness shots. CAROL STREAM, IL / ACCESS Newswire / March 21, 2025 / The Fresh Factory B.C. Ltd. (TSXV:FRSH)(FRA:Q4Z) (\"The Fresh Factory\" or the \"Company\"), a mission-driven company for fresh, clean-label, and better-for-you food and beverage brands, is pleased to announce financial results for the fourth quarter and fiscal year ending December 31, 2024 (\"Q4 2024\" and \"Fiscal 2024,\" respectively).\"2024 was a pivotal year for The Fresh Factory as we continued to execute on our growth strategy, driving record revenue while improving operational efficiency and our bottom line,\" said Bill Besenhofer, Chief Executive Officer and co-founder. \"We successfully strengthened our foundation by expanding our capabilities, optimizing production, and launching innovative new products. With the upcoming launch of our expanded facility, we are well-positioned to scale further and support the growing demand for fresh, clean-label, better-for-you food and beverage products. As we move into 2025, our focus remains on disciplined execution, continued growth with our customers, and sustained profitability.\"Financial Highlights: Fiscal 2024 vs. Fiscal 2023Record billed revenue was $32.9M (CAD $47M) in Fiscal 2024 compared to $23.7M (CAD $33.9M) in Fiscal 2023, an increase of 39%. This increase was mainly due to sales to existing strategic partners across various categories.Adjusted EBITDA was $2.5M (CAD $3.6M) or 7.6% of total revenue for Fiscal 2024 vs. $(0.5)M (CAD ...