Business
The Fresh Factory Reports Strong Q2 Results; Momentum Accelerating in Second Half of the Year
Second consecutive quarter of record billed revenue of $4.85M in Q2 2022 ($6.22M CAD), comp...
About this update from Fresh Factory B.c. Ltd.
[{"type":"text","content":"The Fresh Factory Reports Strong Q2 Results; Momentum Accelerating in Second Half of the YearSecond consecutive quarter of record billed revenue of $4.85M in Q2 2022 ($6.22M CAD), compared to $3.43M ($4.39M CAD) in Q2 2021, representing an increase of 41.4%.Year-to-date billed revenue of $8.72M ($11.2M CAD), an increase of 34.6% over H1 2021.Year-to-date net revenue of $8.42M ($10.79M CAD), compared to $6.09M ($7.81M CAD) in H1 2021, representing an increase of 38.3%.CAROL STREAM, IL / ACCESSWIRE / August 29, 2022 / The Fresh Factory B.C. Ltd. (CSE:FRSH) (FRA:Q4Z) (\"The Fresh Factory\" or the \"Company\"), a mission-driven company for fresh and better-for-you food and beverage brands, reports financial results for the second quarter ending June 30, 2022.\"Our team delivered another strong quarter, reflecting The Fresh Factory's continued focus on executing our strategy to create, invest in, and accelerate the clean-label food and beverage brands of tomorrow,\" said Bill Besenhofer, Chief Executive Officer and co-founder of The Fresh Factory. \"We continue to see a growing demand for fresh food and beverages made with recognizable, healthy ingredients. This, coupled with our innovative production capabilities and operational expertise, gives us confidence that we will continue to see momentum for the rest of 2022 and beyond. Despite challenging headwinds with the current supply chain and inflationary environment, our customers see us as a trusted partner to scale their businesses, taking them from product to shelf, and everywhere in between. Our ability to source ingredients and packaging and streamline production and distribution has been extremely well received by our current customers, as well as prospective customers who come to us to help bring their ideas to life.\"Financial Highlights: H1 2022 vs H1 2021Record billed revenue of $8.72M ($11.2M CAD) in H1 2022 vs. $6.48M ($8.31M CAD) for H1 2021, an increase of 34.6%.Adjusted EBITDA decreased to $(0.93)M ($(1.19)M) CAD) in H1 2022, materially driven by additional public-company expenses and investments in staff and infrastructure for growth.Adjusted gross margins were $2.41M ($3.09M CAD) in H1 2022 vs. $2.22M ($2.85M CAD) in H1 2021.Financial and Operational Highlights: Q2 2022 vs Q1 2022Record billed revenue of $4.85M ($6.22M CAD) in Q2 2022 vs. $3.86M ($4.95M CAD) for Q1 ...