Thank you. And your next question comes from the line of Scott Mushkin from R5 Capital. Please go ahead. Yes, look, weÂ're going to continue to manage it for the quarters ahead and weÂ're going to continue to monitor what the allocation is and for Q2, Q3, Q4, weÂ'll message obviously appropriately. Scott Mushkin Okay. And then, I was kind of remiss, I should have congratulated everybody, even their new roles and whatnot. So congratulations to all on the call, and looking forward to working with you guys. My ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-38880 TABLE OF CONTENTS (Address of Principal Executive Offices) (Zip Code) (312) 840-6000 (Registrant's telephone number, including a ...

Financial Performance - Product revenues for the year ended December 31, 2022, were $538.272 million, an increase from $493.973 million in 2021, representing a growth of approximately 8.5%[298]. - The net loss for the year ended December 31, 2022, was $58.752 million, compared to a net income of $0.083 million in 2021, indicating a significant decline in profitability[300]. - Gross profit for 2022 was $140.212 million, down from $158.755 million in 2021, reflecting a decrease of about 11.6%[298]. - Operating loss for the year ended December 31, 2022, was $(24.646) million, compared to an operating income of $22.816 million in 2021, highlighting a substantial operational downturn[298]. - Total comprehensive loss for 2022 was $(69.481) million, compared to a comprehensive income of $1.165 million in 2021, indicating a significant deterioration in overall financial performance[300]. - The company reported asset impairment charges of $46.500 million in 2022, which were not present in 2021, impacting the financial results significantly[298]. Assets and Liabilities - As of December 31, 2022, Whole Earth Brands, Inc. reported total assets of $849 million, a decrease from $922 million in 2021[296]. - The company had $368 million in outstanding principal under its Term Loan Facility and $76 million under its Revolving Credit Facility as of December 31, 2022[280]. - The long-term debt increased to $432.2 million in 2022 from $383.5 million in 2021[296]. - The company had an accumulated deficit of $85.2 million as of December 31, 2022, compared to $26.4 million in 2021[296]. - The company reported a total stockholders' equity of $274.6 million as of December 31, 2022, down from $313.9 million in 2021[296]. Cash Flow and Financing - The company had a net cash used in operating activities of $(5.810) million for the year ended December 31, 2022, compared to net cash provided of $9.482 million in 2021[305]. - Capital expenditures for 2022 were $(8.887) million, down from $(12.198) million in 2021, indicating a reduction in investment in physical assets[305]. - The company raised $54.000 million from a revolving credit facility in 2022, compared to $25.000 million in 2021, reflecting an increase in financing activities[305]. - Cash and cash equivalents at the end of the period increased to $28,676 million from $28,296 million, reflecting a net change of $380 million[307]. - Interest paid increased to $28,386 million from $21,203 million, indicating a rise of approximately 34%[307]. - Taxes paid, net of refunds, rose to $9,113 million from $4,523 million, representing an increase of about 101%[307]. Foreign Exchange and Market Risks - A 10% fluctuation in the Swiss Franc, Euro, Chinese Yuan, and British Pound Sterling against the USD would lead to an approximate 4% change in revenue for the year ended December 31, 2022[282]. - The company is subject to risks from the ongoing military conflict in Ukraine, which may impact sales, operations, and supply chain[280]. Expenses - Selling, general and administrative expenses decreased to $99.735 million in 2022 from $113.141 million in 2021, a reduction of approximately 11.8%[298]. - Research and development expenses were approximately $3.9 million for 2022, up from $3.4 million in 2021[336]. - Marketing and advertising expenses were $11.8 million in 2022, down from $17.0 million in 2021[344]. - The Company recognized restructuring and other expenses of $4.5 million during the year ended December 31, 2021[356]. Acquisitions - The Company acquired Swerve for a total purchase price of $79.032 million, funded by cash and a revolving loan facility[368][369]. - The acquisition of Wholesome was completed for an initial cash purchase price of $180 million, with an additional potential earn-out of up to $55 million based on financial metrics[372][373]. - Wholesome contributed $179.6 million in product revenues and $20.6 million in operating income for the year ended December 31, 2021[382]. - The Company recorded goodwill of $36.081 million from the Swerve acquisition and $80.763 million from the Wholesome acquisition, reflecting future economic benefits[369][378]. Taxation - The Company reported a total provision for income taxes of $5,789,000 for the year ended December 31, 2022, compared to a benefit of $(7,144,000) for the year ended December 31, 2021[437]. - The effective tax rate for the Company was (10.9)% for the year ended December 31, 2022, compared to 101.2% for the year ended December 31, 2021[437]. - The Company recognized a discrete tax benefit of $4.1 million in 2021 due to a beneficial Switzerland tax ruling allowing amortization of intangible assets over a 10-year period[440]. Pension and Employee Benefits - The Company froze its qualified pension plan on December 31, 2019, and unfunded non-qualified plans were frozen on December 31, 2022[446]. - The projected benefit obligations decreased from $20.3 million at the end of 2021 to $7.7 million at the end of 2022, reflecting a reduction of approximately 62%[449]. - The net pension liability improved from $(7.4) million in 2021 to $(5.2) million in 2022, indicating a reduction of approximately 30%[450]. - The Company recorded compensation expense related to defined contribution plans of $1.2 million for 2022, up from $1.0 million in 2021[465]. Stock-Based Compensation - Stock-based compensation expense for the year ended December 31, 2022, was $4.9 million, a decrease from $8.7 million in 2021[469]. - The aggregate fair value of RSUs that vested in 2022 was $1.5 million, compared to $7.2 million in 2021[472]. - The weighted average grant date fair value per share of RSUs granted in 2022 was $5.42, significantly lower than $13.48 in 2021[471].

TABLE OF CONTENTS UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-38880 Whole Earth Brands, Inc. (Exact name of registrant as specified in its charter) Delaware (State or other j ...

TABLE OF CONTENTS UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-38880 Whole Earth Brands, Inc. (Exact name of registrant as specified in its charter) Delaware (State or other jurisd ...

TABLE OF CONTENTS UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-38880 Whole Earth Brands, Inc. (Exact name of registrant as specified in its charter) Delaware (State or other juris ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-38880 Whole Earth Brands, Inc. (Exact name of registrant as specified in its charter) Delaware 38-4101973 (State or other jurisd ...

TABLE OF CONTENTS UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-38880 Whole Earth Brands, Inc. (Exact name of registrant as specified in its charter) Delaware (State or other j ...

For the transition period from to TABLE OF CONTENTS For the quarterly period ended June 30, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File No. 001-38880 Whole Earth Brands, Inc. (Exact name of registrant as specified in its charter) Delaware (State or other jurisd ...

TABLE OF CONTENTS UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-38880 Whole Earth Brands, Inc. (Exact name of registrant as specified in its charter) Delaware (State or other juris ...