Core Insights - Better Choice Company Inc. reported a net sales of $7.9 million for Q1 2024, with 75% of sales driven by its Halo Holistic® product line [3][5] - The company achieved an adjusted EBITDA improvement of 27% year over year, reaching $(1.4) million, and an adjusted EBITDA margin expansion of 299 basis points to (18)% [1][5] - The net loss available to common stockholders improved by 19% to $(2.8) million, with EPS improving by 28% to $(3.60) per share [5][6] Financial Performance - Net sales for Q1 2024 were $7.9 million, down from $9.2 million in Q1 2023 [4] - Gross profit decreased to $2.6 million, compared to $3.2 million in the previous year, resulting in a gross margin of 33% [4][5] - Operating expenses were reduced to $5.1 million from $6.5 million year over year, leading to a loss from operations of $(2.5) million, an improvement from $(3.3) million [4][5] Operational Highlights - The company improved inventory levels by approximately 50% over the last 15 months, achieving an average fill rate of 96% for the quarter [3] - The Halo Elevate line was successfully launched on Chewy, receiving an average product rating of 4.6 stars, indicating strong consumer satisfaction [3] - Better Choice is focusing on a digital-first strategy to enhance brand awareness and optimize its product portfolio [3] Balance Sheet Overview - As of March 31, 2024, total assets were $15.4 million, down from $16.7 million at the end of 2023 [7] - Current liabilities increased to $14.3 million from $13.8 million, with accounts payable rising to $7.5 million [7] - Stockholders' equity decreased to $1.1 million from $3.0 million, reflecting the ongoing net losses [7]

Core Insights - Better Choice Company Inc. reported a net revenue of $7.9 million for Q1 2024, with a gross margin of 33% and a net loss of $2.8 million, which is an improvement of 19% year over year [2][3] - The company achieved an EPS improvement of 28% to $(3.60) per share and an adjusted EBITDA growth of 27% year over year to $(1.4) million, with an adjusted EBITDA margin improvement of 299 basis points to (18)% [1][2] - Approximately 75% of the sales volume was driven by the Halo Holistic® product line, and the company launched the Halo Elevate line on Chewy, receiving an average product rating of 4.6 stars [2][10] Financial Performance - Net sales for Q1 2024 were $7.9 million, down from $9.2 million in Q1 2023 [3] - Cost of goods sold decreased to $5.3 million from $6.0 million year over year, resulting in a gross profit of $2.6 million compared to $3.2 million in the previous year [3] - Total operating expenses were $5.1 million, down from $6.5 million in Q1 2023, leading to a loss from operations of $(2.5) million, an improvement from $(3.3) million [3] Operational Highlights - The company improved inventory levels by approximately 50% over the last 15 months, achieving an average fill rate of 96% for the quarter [2] - The CEO emphasized a digital-first strategy and marketing investment shifts to enhance brand awareness and discoverability [2] - Better Choice is focused on optimizing its product portfolio and addressing consumer barriers to purchase [2] Balance Sheet Overview - As of March 31, 2024, total assets were $15.4 million, down from $16.7 million at the end of 2023 [4] - Current liabilities increased to $14.3 million from $13.7 million, while total liabilities rose to $14.3 million from $13.8 million [4] - Stockholders' equity was reported at $1.1 million, reflecting an accumulated deficit of $(324.2) million [4]

NEW YORK, April 30, 2024 (GLOBE NEWSWIRE) -- Better Choice Company (NYSE:BTTR) ("Better Choice" or "the Company"), a pet health and wellness company, is encouraged by the potential DEA reclassification of marijuana. Michael Young, Chairman of Better Choice Company, commented, "As the environment for the cannabis industry continues to evolve, we look forward to watching the evolution of regulatory reform. Bona Vida CBD treats and chews, a wholly owned subsidiary of Better Choice, continues in our view to hav ...

NEW YORK, April 16, 2024 (GLOBE NEWSWIRE) -- Better Choice Company Inc. (NYSE:BTTR) (the "Company" or "Better Choice"), a pet health and wellness company, announces that its Board of Directors has authorized a stock repurchase program under which the Company can repurchase up to $5 million of the currently outstanding shares of the Company's common stock, until December 31, 2024. Shares may be repurchased in open market or private transactions or pursuant to any trading plan that may be adopted in accordanc ...

Gross Margin Improved 300 basis points to 31% Year-Over-Year Adjusted EBITDA Grew 30% Year-Over-Year EPS Grew 45% Year-Over-Year TAMPA, Fla., April 12, 2024 (GLOBE NEWSWIRE) -- Better Choice Company Inc. (NYSE:BTTR) (the "Company" or "Better Choice"), a pet health and wellness company, today reported its financial results for the fourth quarter and year ended December 31, 2023. Kent Cunningham, CEO of Better Choice, stated, "In 2023, we realized significant gross margin improvement to 31%, fueled by strateg ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Accounts receivable consist of unpaid buyer invoices from the Company's customers and credit card payments receivable from thirdparty credit card processing companies. Accounts receivable is stated at the amount billed to customers, net of point of sale and cash ...

TAMPA, Fla., March 08, 2024 (GLOBE NEWSWIRE) -- Better Choice Company, Inc. (NYSE:BTTR) ("Better Choice" or the "Company"), a pet health and wellness company, announced today that it will proceed with a 1-for-44 reverse stock split (the "Reverse Split") of its issued and outstanding shares of common stock, par value $0.001, following authorization by its Board of Directors and majority shareholders to effect a reverse stock split by a ratio of not less than 1-for-25 and not more than 1-for-45 (the "Reverse ...

NEW YORK, March 04, 2024 (GLOBE NEWSWIRE) -- Better Choice Company (NYSE:BTTR) ("Better Choice" or "the Company"), a pet health and wellness company, today announced that after successfully completing the acquisition of Aimia, the Company will explore and evaluate proposals to monetize and fund ownership in its R&D platform with the goal to bring in partners to participate in the evolution of a treat-based GLP1 supplement to combat obesity in dogs and cats. About Better Choice Company, Inc.Better Choice Com ...

NEW YORK, Feb. 09, 2024 (GLOBE NEWSWIRE) -- Better Choice Company (NYSE:BTTR) ("Better Choice" or "the Company"), a pet health and wellness company, today announced the acquisition of all the issued and outstanding common shares of Aimia Pet Healthco Inc. (‘Aimia'). Better Choice will now be in a position to manage the clinical trials internally in hopes to develop a supplement to support weight loss in domestic animals. More than half of all dogs and cats worldwide are classified as overweight or obese and ...

Cost of goods sold consists primarily of the cost of product obtained from co-manufacturers, packaging materials, freight costs for shipping inventory to the warehouse, as well as third-party warehouse and order fulfillment costs. We review inventory on hand periodically to identify damages, slow moving inventory, and/or aged inventory. Based on this analysis, we record inventories at the lower of cost or net realizable value, with any reduction in value expensed as cost of goods sold. Our gross profit has ...