Financial Data and Key Metrics Changes - Gross profit for 2024 grew by 181.3%, with gross margin increasing from 5.9% in 2023 to 16.7% in 2024, reflecting the strength of the core herb business and strategic plans [10][32] - Total revenue for 2024 was $13.9 million, a 1.4% decrease from $14 million in 2023, primarily due to the exit from lower-margin product lines [29][30] - Net loss for 2024 was $11.1 million, compared to a net loss of $10.2 million in 2023, attributed to increased SG&A expenses and interest costs [33] Business Line Data and Key Metrics Changes - Revenue from the core herb business grew by 1.7 million or 16.3% year-over-year, highlighting the strength of the focused approach [12][30] - The company exited lower-margin categories like lettuce and floral, which accounted for a $1.7 million decline in revenue [30] Market Data and Key Metrics Changes - The company is expanding its retail footprint across the U.S., strengthening its presence in key consumer markets [19] - The proposed acquisition of Narayan Group aims to expand the company's international footprint and diversify product offerings [16][18] Company Strategy and Development Direction - The company refocused operations around its core herb business and launched new shelf-stable products and a clean-labeled sports nutrition line [10][11] - The strategic decision to exit lower-margin categories is expected to drive long-term profitability and operational efficiency [12][14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence that the momentum from the second half of 2024 will carry into 2025, with a focus on higher-margin, more profitable opportunities [12][13] - The company aims to leverage its vertically integrated model to enhance efficiency and drive growth [15][19] Other Important Information - The company signed a non-binding letter of intent to acquire Narayan Group, which could significantly enhance its product offerings and operational efficiency [16][18] - The company is committed to sustainability and innovation, with initiatives like herbicide-recyclable pots contributing to CO2 emissions reduction [24] Q&A Session Summary Question: What impacted the gross margins in Q4? - Management indicated that increased labor costs during the holiday season were a significant factor affecting gross profit margins in Q4 [40][41] Question: Can you elaborate on the proposed acquisition and cross-selling opportunities? - The acquisition of Narayan Group is expected to provide cross-selling opportunities with products like coconut water and superfoods, enhancing the company's portfolio and margins [46][48] Question: What are the expectations for the sports nutrition category in 2025? - Management highlighted the growing consumer interest in clean-label supplements and the strategic launch of Kik Sports Nutrition on Amazon, indicating strong growth potential [55][56] Question: Are there any anticipated one-time charges related to exiting lower-margin products? - Management does not anticipate any additional charges beyond those already accounted for in 2023 related to exiting the lettuce and floral business [71] Question: How does the company plan to leverage vertical integration moving forward? - Management emphasized the importance of operational efficiency gained from vertical integration, which positions the company to focus on top-line growth and new product launches [78][80]

Core Business Performance - The core herb business of Edible Garden experienced a revenue growth of 16.3% year-over-year, contributing an increase of $1.7 million [3][12] - Gross profit surged by 181.3%, reaching $2.3 million, with gross margin improving from 5.9% in 2023 to 16.7% in 2024 [3][14] - The company strategically exited lower-margin product lines, such as lettuce and floral, to focus on higher-margin opportunities, which positively impacted profitability and operational efficiency [3][12] Financial Results - For the year ended December 31, 2024, total revenue was $13.9 million, a slight decrease of 1.4% compared to $14.0 million in 2023, primarily due to the exit from lower-margin categories [12][17] - Cost of goods sold decreased by 12.7% to $11.6 million, driven by reduced reliance on third-party growers and the operationalization of Edible Garden Heartland [13][14] - Selling, general, and administrative expenses rose by 15.8% to $11.6 million, influenced by increased legal and accounting fees [15][17] Strategic Initiatives - The company is pursuing the acquisition of Narayan Group, which would enhance its global presence and diversify product offerings, particularly in organic coconut and superfood products [3][4] - Edible Garden is expanding its retail footprint across the U.S. by increasing distribution of its USDA Organic herb line, aligning with rising consumer demand for organic produce [4][8] Innovation and Sustainability - The introduction of Squeezables, a shelf-stable line of stir-in paste herbs, reflects the company's commitment to innovation and meeting consumer needs [5][6] - Edible Garden's sustainable practices earned it a Top 50 ranking in the 2024 FoodTech 500, highlighting its leadership in sustainable food systems [7][8] - The company implemented curbside recyclable pots, contributing to a reduction of 11,803 metric tons of CO₂ emissions in 2024 through Walmart's Project Gigaton [7][8]

Core Viewpoint - Edible Garden AG Incorporated will host a conference call on March 31, 2025, to discuss its financial results for Q4 and the full year of 2024, along with a business update [1]. Company Overview - Edible Garden is a leader in controlled environment agriculture (CEA), focusing on locally grown, organic, and sustainable produce [4]. - The company operates state-of-the-art greenhouses and processing facilities in Belvidere, New Jersey, and Grand Rapids, Michigan, and has a network of contract growers near major U.S. markets [4]. - Edible Garden's proprietary GreenThumb 2.0 software optimizes growing in both vertical and traditional greenhouses, aiming to reduce food miles and pollution [4]. - The company offers a range of products, including plant and whey protein powders under the Vitamin Way® and Vitamin Whey® brands, as well as sustainable food flavoring products like Pulp gourmet sauces [4]. Conference Call Details - The conference call will take place at 8:00 AM Eastern Time and can be accessed via telephone or webcast [2]. - A replay of the call will be available on the company's investor relations website and through telephone access for a limited time [3].

Core Insights - Edible Garden AG Incorporated has been recognized as a top 50 company in the 2024 FoodTech 500 list, highlighting its leadership in controlled environment agriculture and sustainable practices [1][2][3] Company Overview - Edible Garden specializes in controlled environment agriculture (CEA), focusing on locally grown, organic, and sustainable produce [1][6] - The company operates state-of-the-art greenhouses and processing facilities in Belvidere, New Jersey, and Grand Rapids, Michigan, and has a network of contract growers near major U.S. markets [6] - Edible Garden's patented GreenThumb software and self-watering displays enhance operational efficiency, extend product shelf life, and reduce waste [3][6] Industry Recognition - The FoodTech 500 is a prestigious list that evaluates over 2,000 companies globally, recognizing those at the intersection of food, technology, and sustainability [2][4] - Edible Garden's inclusion in the top 50 reflects its business size, digital presence, and sustainability practices [2][3] Commitment to Sustainability - The company is dedicated to its Zero-Waste Inspired® mission, aiming to address challenges in food production while promoting sustainable practices [3] - Edible Garden's innovations contribute to a more sustainable food ecosystem, benefiting retailers, consumers, and the environment [3][6]

Core Insights - Edible Garden AG Incorporated has partnered with Freshtown Marketplace to offer its USDA Organic herb product line, enhancing accessibility for health-conscious consumers seeking fresh, sustainable produce [1][2] - The partnership aligns with Edible Garden's mission to provide flavorful herbs and supports the growing demand for organic and locally sourced products [2] Company Overview - Edible Garden is a leader in controlled environment agriculture (CEA), focusing on locally grown, organic, and sustainable produce, with a commitment to Zero-Waste Inspired farming practices [3] - The company operates state-of-the-art greenhouses and processing facilities in New Jersey and Michigan, and has a network of contract growers near major U.S. markets [3] - Edible Garden's proprietary technologies include the GreenThumb software for optimizing growth and a self-watering display to enhance plant shelf life and in-store experience [3] Product Offerings - The company offers a variety of USDA Organic herbs, including basil, cilantro, and parsley, cultivated with a focus on quality and sustainability [2] - In addition to herbs, Edible Garden develops plant and whey protein powders under the Vitamin Way and Vitamin Whey brands, as well as sustainable food flavoring products like Pulp gourmet sauces [3]

Core Insights - Edible Garden AG Incorporated is participating in Indoor Ag-Con 2025, focusing on Integrated Pest Management (IPM) for controlled environment agriculture (CEA) [1][2][3] - Amanda Caton, Head Grower at Edible Garden, will present best practices for IPM, aimed at enhancing pest control and crop health [1][3] - The event serves as a significant platform for industry professionals to connect and explore innovations in CEA [2][4] Company Overview - Edible Garden is a leader in CEA, providing locally grown, organic, and sustainable produce, with a commitment to Zero-Waste Inspired® practices [5] - The company operates advanced greenhouses and processing facilities in New Jersey and Michigan, and has a network of contract growers near major U.S. markets [5] - Edible Garden utilizes patented technologies such as GreenThumb software and self-watering displays to optimize production and reduce environmental impact [5]

Company Overview - Edible Garden AG Incorporated is a leader in controlled environment agriculture (CEA), focusing on locally grown, organic, and sustainable produce and products [6] - The company operates state-of-the-art greenhouses and processing facilities in New Jersey and Michigan, with a network of contract growers near major U.S. markets [6][7] - Edible Garden's proprietary GreenThumb software optimizes growing in vertical and traditional greenhouses, aiming to reduce pollution-generating food miles [7] Acquisition of Narayan Group - Edible Garden is pursuing the acquisition of Narayan Group, a European producer of organic coconut and superfood products, which is expected to enhance supply chain efficiencies and expand access to healthier ingredients in North America and Europe [1][3] - The acquisition is seen as a major milestone in Edible Garden's growth strategy, allowing for international expansion and the introduction of high-quality, sustainably sourced superfoods to the North American market [3] - Narayan's vertically integrated supply chain will provide greater control over sourcing, production, and distribution, enhancing operational efficiency and reducing costs [3] Event Announcement - Edible Garden will host "The Future of Food" event during Natural Products Expo West® 2025, featuring culinary advisor and James Beard Award-winning Chef JJ Johnson [1][4] - The event aims to showcase bold, globally inspired flavors using Edible Garden's fresh, sustainably grown ingredients, highlighting the intersection of culinary innovation and sustainability [4][5] - The company will also promote its Pickle Party, Pulp, and Squeezables product lines at the Expo, reinforcing its commitment to clean-label condiments [5]

Core Insights - Edible Garden AG Incorporated is participating in Natural Products Expo West® 2025, showcasing its commitment to sustainability and clean-label ingredients in the fresh condiments category [1][5] - The company is introducing its innovative product lines, including Pickle Party, Pulp, and Squeezables, which emphasize bold flavors and responsible sourcing [3][4][5] Company Overview - Edible Garden is a leader in controlled environment agriculture (CEA), focusing on locally grown, organic, and sustainable produce, with a Zero-Waste Inspired® farming approach [6] - The company operates state-of-the-art greenhouses and processing facilities in New Jersey and Michigan, and has a network of contract growers near major U.S. markets [6] - Edible Garden's proprietary GreenThumb software optimizes growing processes and aims to reduce food miles, while its self-watering displays enhance plant shelf life [6] Product Lines - The Pickle Party line features the world's first functional pickle, made with sustainably sourced, fermented Kosher, Non-GMO ingredients [3] - The Pulp product line includes gourmet sauces and chili-based products available at major retailers, designed to elevate everyday meals with unique flavors [3] - Squeezables are shelf-stable, stir-in paste herbs that maintain fresh flavors and extend shelf life, aligning with the company's sustainability goals [4] Industry Context - Natural Products Expo West® 2025 is expected to attract 60,000 to 65,000 participants, with buyers making up approximately 60% of attendees, highlighting the growing interest in natural and organic products [2]

Core Insights - Edible Garden AG Incorporated's CEO, Jim Kras, has been recognized in the 2025 NJBIZ Power 100 list, highlighting influential business leaders in New Jersey [1][2] - This recognition follows Kras being named a finalist for the Entrepreneur Of The Year® 2024 New Jersey Award by Ernst & Young, celebrating innovative business leaders [3] Company Overview - Edible Garden is a leader in controlled environment agriculture (CEA), focusing on locally grown, organic, and sustainable produce [5] - The company operates state-of-the-art greenhouses and processing facilities in Belvidere, New Jersey, and Grand Rapids, Michigan, with a network of contract growers near major U.S. markets [5] - Edible Garden's proprietary GreenThumb software optimizes growing in vertical and traditional greenhouses, aiming to reduce pollution-generating food miles [5] - The company offers a range of products, including plant and whey protein powders under the Vitamin Way® and Vitamin Whey® brands, as well as sustainable food flavoring products [5] Innovations and Sustainability Efforts - Edible Garden is committed to revolutionizing sustainable agriculture through technology and responsible farming practices, including a Zero-Waste Inspired® mission [4] - The patented GreenThumb software enhances efficiency and optimizes crop yields, while the self-watering display technology extends plant shelf life and reduces spoilage [4]

Core Insights - Edible Garden AG Incorporated has launched a curb-side recyclable pot across its retail distribution network, initially introduced at Walmart, contributing to a reduction of 11,803 metric tons of CO2 emissions [1][2]. Company Overview - Edible Garden is a leader in controlled environment agriculture (CEA), focusing on locally grown, organic, and sustainable produce, supported by its Zero-Waste Inspired® farming practices [3]. - The company operates over 5,000 stores in the U.S. and utilizes patented technologies such as GreenThumb software and self-watering displays to enhance sustainability and product quality [3]. Sustainability Commitment - The introduction of the recyclable pot is a significant milestone in Edible Garden's commitment to environmental responsibility, aiming to reduce waste and ecological footprint [2]. - The initiative aligns with the sustainability goals of retail partners like Walmart and caters to environmentally conscious consumers [2].