Company Overview - Edible Garden AG Incorporated is a leader in controlled environment agriculture (CEA), focusing on locally grown, organic, and sustainable produce and products [4] - The company operates state-of-the-art vertically integrated greenhouses and processing facilities in Belvidere, New Jersey, and Grand Rapids, Michigan, along with a network of contract growers [5] - Edible Garden has been recognized as a FoodTech 500 company and is a member of Walmart's Project Gigaton sustainability initiative [5] Product Launch - The Kick. Sports Nutrition product line is now available at a major Midwest big-box retailer, marking a significant step in the brand's omnichannel go-to-market strategy [1][3] - The product line includes clean-label, functional products such as plant-based and whey protein powders, with plans to expand into pre-workout, post-workout, and hydration formulations [2] Market Potential - The global sports nutrition market is projected to grow from $54.8 billion in 2023 to $103.3 billion by 2032, indicating a strong demand for natural and effective health solutions [3] - Edible Garden's omnichannel approach aims to meet this demand by providing convenience, value, and clean ingredients through both retail and online channels [3] Strategic Partnerships - The company is preparing for an e-commerce launch on Amazon, collaborating with Pirawna, a Verified Amazon Partner, to enhance its online distribution strategy [3] - This integrated distribution strategy combines the reach of physical retail with the scale of e-commerce, improving accessibility and brand visibility [3]

Company Overview - Edible Garden AG Incorporated is a leader in controlled environment agriculture (CEA), focusing on locally grown, organic, and sustainable produce and products [4] - 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 [5] - Edible Garden has been recognized as a FoodTech 500 company and is a member of Walmart's Project Gigaton sustainability initiative [5] Product Launch - The Kick. Sports Nutrition product line is now available at a major Midwest big-box retailer, marking a significant step in the brand's omnichannel go-to-market strategy [1][3] - The product line includes clean-label, functional products such as plant-based and whey protein powders, with plans to expand into pre-workout, post-workout, and hydration formulations [2] Market Potential - The global sports nutrition market is projected to grow from $54.8 billion in 2023 to $103.3 billion by 2032, indicating a strong demand for natural and effective health solutions [3] - Edible Garden's omnichannel approach aims to meet this demand by providing convenience, value, and clean ingredients through both retail and online channels [3] Strategic Partnerships - The company is preparing for an e-commerce launch on Amazon, collaborating with Pirawna, a Verified Amazon Partner, to enhance its online distribution strategy [3] - This integrated distribution strategy combines the reach of physical retail with the scale of e-commerce, improving brand visibility and consumer accessibility [3]

Core Points - Edible Garden AG Incorporated announced a special Earth Day collaboration with Chef JJ Johnson to promote sustainability and community engagement through the distribution of complimentary USDA Organic potted herbs at FIELDTRIP restaurants in New York City [1][2] - The initiative aligns with Edible Garden's Zero-Waste Inspired® mission, emphasizing sustainable farming practices and eco-conscious packaging to reduce environmental impact [2][10] - Chef JJ Johnson views this collaboration as a way to inspire home cooking and a deeper connection to sustainability by encouraging individuals to nurture their own herbs [5][4] Company Overview - Edible Garden is a leader in controlled environment agriculture (CEA), focusing on locally grown, organic, and sustainable produce, and operates over 5,000 stores across the US, Caribbean, and South America [10] - The company utilizes patented technologies such as GreenThumb software and Self-Watering displays to optimize growing conditions and enhance product shelf life [10] - Edible Garden is recognized as a FoodTech 500 company and is a participant in Walmart's Project Gigaton sustainability initiative [10] Chef JJ Johnson's Profile - Chef JJ Johnson is an award-winning chef known for his commitment to sustainability and making ethically sourced food accessible [6][4] - He is the founder of FIELDTRIP, a restaurant that emphasizes rice as a key ingredient and utilizes sustainable practices [7] - Johnson is also involved in various community initiatives focused on food justice and equity [9]

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]

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][4] 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, such as the 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]

Core Insights - Edible Garden AG Incorporated has signed a two-year exclusive vendor supply agreement with Berkot's Super Foods to supply sustainably grown products across the Midwest [2][5] - The partnership aims to enhance product freshness and visibility through innovative merchandising solutions, including self-watering displays [4][5] - Edible Garden's commitment to sustainability and local produce is reinforced by this collaboration, which aligns with its growth strategy in the grocery retail sector [6] Company Overview - Edible Garden is a leader in controlled environment agriculture (CEA), focusing on locally grown, organic, and sustainable produce [2][7] - The company operates vertically integrated greenhouses and processing facilities in New Jersey and Michigan, with a network of contract growers [7] - Edible Garden's proprietary technologies include the GreenThumb software and patented self-watering displays, aimed at reducing food miles and enhancing shelf life [7] Product Offerings - The company will supply a variety of products, including fresh potted herbs, hydroponic basil, cut herbs, and the functional pickle product known as "Pickle Party" [3][5] - Edible Garden also offers a range of plant and whey protein powders, as well as fresh condiments like gourmet sauces and pickles [7]

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]

Core Insights - Edible Garden AG Incorporated is expanding its fresh Poultry Mix product into the ShopRite chain, leveraging its existing retail relationships and aiming to meet consumer demand for fresh, sustainable culinary herbs during key seasonal periods [1][2][5] Group 1: Product Launch and Market Strategy - The Poultry Mix, which includes fresh culinary herbs like rosemary, thyme, and sage, is being launched in time for the spring holiday season, coinciding with Passover and Easter [2][4] - The product rollout follows a successful winter holiday season where sales doubled year-over-year during Thanksgiving, Christmas, and New Year [2] - The launch is supported by Edible Garden's in-store branding and merchandising tools to enhance consumer visibility and maximize retail impact [4][5] Group 2: Retail Partnerships and Consumer Trust - Edible Garden's partnership with ShopRite, part of Wakefern Food Corp., is significant due to ShopRite's strong presence with over 350 stores and its recognition as the "Most Trusted Grocery Retailer in the Northeast" for three consecutive years [3][5] - The collaboration aims to deepen retail partnerships by introducing high-velocity products that align with consumer demand and seasonal trends [5] Group 3: Company Overview and Sustainability Initiatives - 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 [6] - The company operates state-of-the-art vertically integrated greenhouses and processing facilities in New Jersey and Michigan, and has a network of contract growers near major U.S. markets [6] - Edible Garden has been recognized as a FoodTech 500 company and is a member of Walmart's Project Gigaton sustainability initiative, highlighting its commitment to sustainability and innovation in agriculture [6]

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].

Financial Data and Key Metrics Changes - Gross profit for 2024 increased by 181.3%, reaching $2.3 million compared to $0.8 million in 2023, with gross margin improving from 5.9% to 16.7% [10][32] - Total revenue for 2024 was $13.9 million, reflecting a 1.4% decrease from $14 million in 2023, primarily due to strategic exits 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 selling, general, and administrative expenses [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] - Cost of goods sold decreased by 12.7% to $11.6 million for the year, driven by reduced reliance on third-party growers [31] Market Data and Key Metrics Changes - The company expanded its retail footprint across the U.S., strengthening its presence in key consumer markets [19] - The launch of Kik Sports Nutrition, a clean-label lineup, is expected to enhance market presence and drive growth [21] Company Strategy and Development Direction - The company refocused operations around its core herb business and launched new shelf-stable products, stepping away from lower-margin categories [10][11] - A non-binding letter of intent to acquire Narayan Group, a European producer of organic coconut and superfood products, marks a significant strategic growth step [16][18] - The company aims to leverage vertical integration and operational improvements to drive long-term profitability and efficiency [15][19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence that the momentum from operational improvements and strategic realignment will carry into 2025 [12][14] - The company is positioned to capitalize on new opportunities and reinvest in high-growth areas, with a focus on sustainability and innovation [19][24] - Management highlighted the importance of maintaining strong relationships with major retailers to drive future growth [88] Other Important Information - The company made significant progress in strengthening its balance sheet through disciplined cost controls and successful capital raises [14] - The introduction of herbicide-recyclable pots is part of the company's sustainable packaging initiatives, contributing to CO2 emissions reduction [24] Q&A Session Summary Question: Can you elaborate on the gross margins and any inventory write-offs? - Management indicated that the lower gross profit margin in Q4 was primarily due to increased labor costs during the holiday season [40][41] Question: What are the cross-selling opportunities with the proposed acquisition? - The acquisition of Narayan Group presents opportunities to leverage coconut products and superfoods across existing retail channels [46][48] Question: What is the outlook for the sports nutrition category in 2025? - Management expressed optimism about the growth potential in the sports nutrition category, particularly with the Kik brand launching on Amazon [55][57] Question: Are there any expected one-time charges related to exiting lower-margin businesses? - Management does not anticipate any additional charges beyond those already accounted for in 2023 [71] Question: How will the company leverage vertical integration moving forward? - Management emphasized the importance of operational efficiency and the ability to respond quickly to market opportunities as key benefits of vertical integration [78][80]