Business
The Fresh Factory Reports Second Consecutive Quarter of Positive EBITDA in Q2 2024
The Company marks its second consecutive quarter of positive EBITDA, ending the quarter with EBIT...
About this update from Fresh Factory B.c. Ltd.
[{"type":"text","content":"The Fresh Factory Reports Second Consecutive Quarter of Positive EBITDA in Q2 2024 The Company marks its second consecutive quarter of positive EBITDA, ending the quarter with EBITDA of $0.3M (CAD $0.4M).The Company achieved a positive EBITDA of $0.6M (CAD $0.8M) in H1 2024, compared to ($1.5M) (CAD ($2.1M)) in H1 2023.The Company recorded quarterly billed revenue of $7.3M (CAD $10.1M) and YTD revenue of $15.6M (CAD $21.3M), representing an increase of 26% YoY and 39% YTD.This quarter the Company secured a new 56,000-square-foot facility in Downers Grove, Illinois, to expand manufacturing capabilities and drive strategic growth initiatives.CAROL STREAM, IL / ACCESSWIRE / August 29, 2024 / 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, reports financial results for the second quarter ending June 30, 2024 (\"Q2 2024\").\"This quarter's financial results highlight our continued focus on strategic growth and operational efficiency, marking our second consecutive quarter of positive EBITDA,\" said Bill Besenhofer, Chief Executive Officer and co-founder of The Fresh Factory. \"The addition of our new 56,000-square-foot Downers Grove facility in Q2 is a significant milestone. This new facility enhances our ability to scale production and meet the increasing demand for clean-label, better-for-you food and beverages. The first half of 2024 has been our best yet, underscoring the strength of our business model and our commitment to innovation. With this momentum, we are setting the stage for continued growth and further solidifying our position as a leader in the industry as we head into the second half of 2024.\"Financial Highlights: H1 2024 vs. H1 2023Billed revenue: $15.8M (CAD $21.6M) in H1 2024 vs. $11.3M (CAD $15.5M) in H1 2023, an increase of 39.3%.Achieved positive EBITDA of $0.6M (CAD $0.8M) in H1 2024, compared to ($1.5M) (CAD ($2.1M)) in H1 2023.Financial and Operational Highlights: Q2 2024 vs. Q2 2023Billed Revenue: $7.4M (CAD $10.1M) in Q2 2024 vs. $5.9M (CAD $8.0M) in Q2 2023, an increase of 26.2%.EBITDA: $0.3M (CAD $0.4M) in Q2 2024 vs. ($0.5M) (CAD ($0.7M)) in Q2 2023, an increase of 153.5%.Adjusted Gross Margins: $2.8M (CAD $3.8M) in Q2 2024 vs. $1.7M (CAD $2.4M) in Q2 2023, an increa...