BELVIDERE, NJ, May 08, 2025 (GLOBE NEWSWIRE) -- Edible Garden AG Incorporated (“Edible Garden” or the “Company”) (Nasdaq: EDBL, EDBLW), a leader in controlled environment agriculture (CEA), locally grown, organic and sustainable produce and products, announced today that it will host a conference call on Thursday, May 15, 2025, at 8:00 AM Eastern Time to discuss financial results for the 2025 first quarter and provide a business update. The conference call will be available via telephone by dialing toll-fre ...

BELVIDERE, NJ, April 29, 2025 (GLOBE NEWSWIRE) -- Edible Garden AG Incorporated ("Edible Garden" or the "Company") (Nasdaq: EDBL, EDBLW), a leader in controlled environment agriculture (CEA), locally grown, organic, and sustainable produce and products, today announced that it has expanded the distribution of its sustainably grown herb product line to additional Stop & Shop retail locations across New York. "We are excited to build on our commitment to servicing Stop & Shop by making our sustainably grown h ...

Core Insights - Edible Garden AG Incorporated has launched its new product line, Pickle Party, which is marketed as the world's first functional pickle, aimed at health-conscious consumers [1][3] - The Pickle Party line includes Kosher, Non-GMO pickles and sauerkraut that are fresh, fermented, and refrigerated to maintain freshness and health benefits [2][3] - The company emphasizes its commitment to sustainability and innovation in the condiment category, aligning with modern wellness trends [3] Company Overview - Edible Garden is a leader in controlled environment agriculture (CEA), focusing on locally grown, organic, and sustainable produce [4] - The company operates over 5,000 stores across the US, Caribbean, and South America, utilizing advanced farming protocols and sustainable packaging [4] - Edible Garden's proprietary technologies, including GreenThumb software and Self-Watering displays, enhance product quality and reduce environmental impact [4] Market Position - The introduction of Pickle Party reflects a growing consumer demand for healthier condiment options, indicating a shift in market preferences [3] - The company is recognized as a FoodTech 500 company and is involved in Walmart's Project Gigaton sustainability initiative, highlighting its industry influence [4]

BELVIDERE, NJ, April 16, 2025 (GLOBE NEWSWIRE) -- Edible Garden AG Incorporated ("Edible Garden" or the "Company") (NASDAQ:EDBL, EDBLW)), a leader in controlled environment agriculture (CEA), locally grown, organic, and sustainable produce and products, today announced that preorders are now coming in for its highly anticipated Pickle Party product line—the world's first functional pickle. Being introduced at Foodtown and Lincoln Market locations across the NY/NJ Metro region, Pickle Party arrives just ahea ...

Joins Forces with Berkot's to Leverage Patented Self-Watering Display Technology to Drive Freshness & Reduce Shrink Edible Garden to bring the "Pickle Party" to the Midwest BELVIDERE, NJ, April 14, 2025 (GLOBE NEWSWIRE) -- Edible Garden AG Incorporated ("Edible Garden" or the "Company") (NASDAQ:EDBL, EDBLW)), a leader in controlled environment agriculture (CEA), locally grown, organic, and sustainable produce and products, today announced the signing of an exclusive two-year vendor supply agreement (VSA) w ...

Core Insights - Edible Garden AG Incorporated is expanding its fresh Poultry Mix product into the ShopRite chain, leveraging its existing retail relationships to meet consumer demand for fresh, sustainable culinary herbs during the spring holiday season [1][2][5] Group 1: Product Launch and Market Strategy - The Poultry Mix, which includes fresh culinary herbs like rosemary, thyme, and sage, is positioned to enhance flavor in various dishes and is expected to perform well during Passover and Easter [2][4] - The product rollout follows a successful winter holiday season where sales doubled year-over-year, indicating strong consumer interest in high-quality, ready-to-use fresh herb blends [2][3] - The launch is supported by Edible Garden's in-store branding and merchandising tools to maximize visibility and consumer engagement [4][5] Group 2: Retail Partnerships and Consumer Trust - Edible Garden's partnership with ShopRite, recognized as the "Most Trusted Grocery Retailer in the Northeast" for three consecutive years, aligns with the company's values of quality, freshness, and community [3][5] - ShopRite operates over 350 stores across New Jersey, New York, and neighboring states, providing a robust distribution network for Edible Garden's products [3][5] Group 3: Company Overview and Sustainability Initiatives - Edible Garden is a leader in controlled environment agriculture (CEA) and focuses on providing sustainably grown, Certified USDA Organic, non-GMO produce [6] - The company operates state-of-the-art vertically integrated greenhouses and processing facilities in New Jersey and Michigan, along with a network of contract growers [6] - Edible Garden is recognized as a FoodTech 500 company and is a member of Walmart's Project Gigaton sustainability initiative, emphasizing its commitment to sustainable practices [6]

BELVIDERE, NJ, April 08, 2025 (GLOBE NEWSWIRE) -- Edible Garden AG Incorporated ("Edible Garden" or the "Company") (NASDAQ:EDBL, EDBLW)), a leader in controlled environment agriculture (CEA), locally grown, organic, and sustainable produce and products, today announced the rollout of its fresh Poultry Mix into ShopRite chainwide. This expansion capitalizes on the Company's existing retail footprint and long-standing relationship with Wakefern Food Corp., the largest retailer-owned cooperative in the United ...

Financial Performance - The company has a history of operating losses since inception and expects to incur additional near-term losses, raising substantial doubt about its ability to continue as a going concern[32]. - Total revenue for the year ended December 31, 2024, was $13,857,000, a decrease of 1.4% compared to $14,049,000 in 2023[245]. - Gross profit increased to $2,312,000 in 2024, compared to $822,000 in 2023, reflecting a significant improvement in profitability[245]. - The net loss attributable to common stockholders for 2024 was $14,924,000, compared to a net loss of $10,188,000 in 2023, indicating a worsening financial position[245]. - Net income for 2024 was a loss of $11,051,000 compared to a loss of $10,188,000 in 2023, indicating a 8.5% increase in losses year-over-year[253]. - Cash provided by operating activities was $(8,516,000) in 2024, slightly improved from $(8,531,000) in 2023[253]. - The company has incurred significant losses and needs to raise additional funds to meet its obligations and sustain operations, raising concerns about its ability to continue as a going concern[233]. - Selling, general and administrative expenses rose to $11,587,000 in 2024, compared to $10,009,000 in 2023, reflecting increased operational costs[245]. - The company incurred an interest expense of $1,219,000 in 2024, up from $390,000 in 2023, indicating higher borrowing costs[245]. - The company has net operating loss carryforwards of approximately $41.86 million for federal income tax purposes and $38.65 million for New Jersey income tax purposes as of December 31, 2024[354]. Assets and Liabilities - Total current assets rose to $7,377,000 as of December 31, 2024, up from $2,647,000 in 2023, showing improved liquidity[241]. - Total liabilities increased to $7,821,000 in 2024, compared to $6,944,000 in 2023, indicating a rise in financial obligations[242]. - The company had cash reserves of $3,530,000 as of December 31, 2024, a significant increase from $510,000 in 2023[241]. - Total inventory as of December 31, 2024, was $1,544,000, up from $678,000 in 2023, indicating a significant increase in stock levels[295]. - Accounts payable and accrued expenses rose to $4,018,000 in 2024 from $2,483,000 in 2023, showing increased liabilities[299]. - The total stockholders' equity improved to $4,094,000 in 2024, compared to a deficit of $288,000 in 2023, reflecting a positive shift in equity position[242]. Customer Concentration and Revenue Sources - Approximately 82.0% of the company's revenue for the year ended December 31, 2024, was earned from four customers, indicating a high customer concentration risk[48]. - Four customers accounted for approximately 82.0% of total revenue in 2024, with one customer alone contributing 44.0%[273]. Investments and Acquisitions - The company acquired a five-acre greenhouse facility in Grand Rapids, Michigan for $2,886,000, which is expected to enhance gross margins by reducing costs associated with contract growers[35]. - The company anticipates investing an additional $1.1 million in capital expenditures to complete the packhouse, with $410 thousand already spent[59]. - The company acquired fixed assets with debt totaling $1,390,000 in 2024[266]. - The Company acquired Edible Garden Corp. on October 1, 2024, for a nominal price of $1.00, assuming a lease with a term ending on December 31, 2029[346]. Sustainability Initiatives - Total estimated emissions avoided in 2024 are projected to be 145,803 metric tons of CO2, demonstrating the company's commitment to sustainability[81]. - The company has avoided 11,803 metric tons of non-recyclable virgin plastic by using recyclable pots for crops[82]. - Edible Garden operates with a focus on sustainability, utilizing closed-loop systems to recycle water and integrated pest management to reduce pesticide use[80]. Product Development and Market Strategy - The company currently offers over 106 stock keeping units (SKUs) and aims to cross-sell products across supermarket partners to meet demand[39]. - The company has expanded its product line to include nutraceuticals and plant-based proteins, with products sold under the Vitamin Way brand[42]. - The company plans to expand its product portfolio with shelf-stable products to increase revenue opportunities and market penetration[75]. - The company aims to reduce transportation costs and enhance local brand awareness through greenhouse expansion and acquisitions[34]. Financing and Debt Management - The company plans to seek additional funding through debt or equity financing to improve liquidity[263]. - The company entered into a promissory note for $3,000,000 with Sament Capital Investments, Inc., accruing interest at 3.5% per annum, maturing on March 30, 2025[302]. - The company received gross proceeds of $5,552,484 from the September Offering, with net proceeds of $4,795,158 after fees[322]. - The Company completed a public offering on May 23, 2024, raising gross proceeds of $5,998,120 from the sale of 2,437,000 common units and 8,720 pre-funded units[328]. - The Company entered into an Equity Distribution Agreement on January 31, 2025, allowing it to issue and sell shares for an aggregate offering price of up to $2.52 million[361]. Operational Efficiency - The company is developing a proprietary propagation system at its Edible Garden Heartland facility to improve growing efficiency[35]. - Edible Garden Heartland facility reached 60% growing capacity in 2024, reducing reliance on third-party growers and contributing to higher gross margins[62]. - The company utilizes GreenThumb software to analyze sales data and develop forecasts for contract growers, ensuring alignment with customer demand[54]. Compliance and Regulatory Matters - The company is evaluating the impact of new accounting standards to be adopted in future periods, which may affect financial disclosures starting in 2025[267]. - The company received an extension from Nasdaq until March 31, 2025, to regain compliance with the minimum bid price requirement[364].

Edible Garden AG Incorporated (EDBL) Q4 2024 Earnings Conference Call March 31, 2025 08:00 AM ET Company Participants Conference Operator - Call ModeratorTed Avas - Investor RelationsJim Kras - Chief Executive OfficerKostas Tafoulis - Interim Chief Financial OfficerAnthony Vendetti - Maxim GroupNick Pincus - Forest CapitalBrian Kennedy - Capital Market Conference Operator Greetings and welcome to the Edible Garden AG Incorporated 2024 fourth quarter business update conference call. At this time, all partici ...

Edible Garden AG (EDBL) Q4 2024 Earnings Call March 31, 2025 05:30 PM ET Company Participants Ted Ayvas - Head of Investor RelationJames Kras - CEO, President & ChairKostas Dafoulas - Interim Chief Financial Officer Conference Call Participants None - Analyst Operator Greetings, and welcome to the Edible Garden AG Incorporated twenty twenty four Fourth Quarter Business Update Conference Call. At this time, all participants are in a listen only mode and a question and answer session will follow the formal pr ...